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UConn expert weighs in on controversial statue debate at the Connecticut Capitol
What should be the fate of the large statue commemorating John Mason that adorns the Connecticut State Capitol Building? He’s a historic figure and founder of the Connecticut Colony. He also left a legacy of violence and murder, with more than 400 Indigenous people, including 175 women and children, killed under his command. And whether to let his statue stand or remove it has engaged a debate from leading experts, historians, relatives of Mason, and the Indigenous community across the state. UConn’s Manisha Sinha was asked to lend her expertise to the situation: Manisha Sinha, a University of Connecticut professor of 19th century U.S. history, said she is a veteran of debates about the fate of statues memorializing Confederate leaders as well as founding fathers who owned slaves. “I have advocated for the taking down of statues that commemorate Confederate leaders and generals, who I see as traitors to the American republic, fighting for the worst cause in American history, as General Grant put it, in the cause of human bondage,” Sinha said. “On the other hand, I have opposed the taking down of statues of some of our founding fathers, revolutionary figures who did not defend slavery as a positive good.” Sinha said history can be complex, and great men of history can be flawed. “The Mason massacre is not a complex story,” she said. “It was a sheer massacre of non-combatants and of women, children and elders. We cannot excuse this by pointing to internecine warfare among Native Americans.” Mason’s statue is not necessary to teach history, she said. “I think it is high time that you think of removing John Mason’s statue,” Sinha said. “It cannot be contextualized. We do not remember history by statues, especially not in the monumental 19th century forms. We actually end up commemorating people, making them heroic.” November 18 – The CT Mirror This is a sensitive and very important topic as America reconciles with its past and moves forward as a country. And, if you are a journalist covering this topic, then let our experts help with your in-depth coverage and questions. Manisha Sinha is the Draper Chair in American History at the University of Connecticut and the author of "The Slave's Cause: A History of Abolition." She is an expert in the era of America during the 19th Century and available to speak with media regarding this topic – simply click on her icon now to arrange an interview today.
The Case for Career Advocates: An Organization Is Not a Meritocracy
“This blog post is the first in a three-part series that summarizes the key messages I deliver to my students, in the hopes that it can catalyze and support the career success of a broader group of ambitious employees who aspire to make it to the C-Suite,” writes Renee Dye 94PhD, associate professor in the practice of Organization & Management. “Most of my lessons are derived from my own unlikely personal journey from literary scholar to top-tier management consultant to C-suite executive for a publicly traded company, but they are also heavily informed by leading researchers like Sylvia Anne Hewlett. In the final blog, I discuss the impact of remote work on career success.” One of the paradoxes of the Gen-Zs and Generation Alphas is their intuitive understanding of the phenomenon of social media…at the same time they maintain an almost ideological conviction that the workplace – apart from systemic biases – is otherwise a meritocracy, where talent is perfectly and objectively evaluated – and the best and most deserving rise to the top. Surely a cursory exploration of Instagram and TikTok would convince even the most skeptical of the fundamentally idiosyncratic nature of success in a networked world? The Real World is likewise characterized by outcomes in which success is imperfectly correlated with capability level. Someone whose capability level is less than yours may lap you in the race to the top of the organization. That may seem unfair, but that’s because you’re making the mistake of assuming that career success is predicated purely on capability. A survey of MBA graduates from my school a few years ago produced a startling insight: of all the skills that we provided to our students during their MBA tenures, our students felt most unprepared to navigate “organizational politics” in their careers. The reason that I found this fact so astonishing is that today’s students, who are Digital Natives and in part Social Media Natives, are the most connected and self-promoting generation the world has ever seen. Yet today I find that my students continue to exhibit little practical understanding of how career success is forged…so much so that I now devote an entire class session in my core Strategy class to demonstrating the importance of relationship management and advocacy cultivation. Capability is not unimportant; far from it. As I tell my students, though, capability is table stakes these days as the level of education and skill sets continues to advance among individuals. If you’re not smart and capable you’re not getting in the door. But once you’re in, your career path and ultimate career success will be more determined by (1) your level of aspiration and unflagging commitment to achieving your goals; (2) your performance outcomes in your individual roles; (3) your work ethic and conscientiousness; and (4) the relationships you have with other people within your organization. And the relationships that matter the most are the individuals with influence and power over your future career opportunities. Let me put it starkly: without career advocates (notice the plural), it will be much, much harder to make it to the senior management ranks. Full stop. Some facts to bear this assertion out: • People with advocates are 23% more likely to move up in the careers • Women with advocates are 22% more likely to ask for a stretch assignment to build their reputations as leaders Ultimately, having an advocate confers a career benefit of 22-30%, depending on who’s doing the asking and what they’re asking for. That’s increasing your odds of making it to the C-Suite by nearly a third! If anecdotal evidence is more your thing, here are a couple of quotations for you: • A lot of decisions are made when you are not in the room, so you need someone to advocate for you, bring up the important reasons you should advance” (Catalyst Survey, as quoted in Elizabeth McDaid, “Mentor vs. Sponsor,” September 3, 2019) • When you get to the level in your career when decisions are not just being made by an individual manager, feedback from other leaders becomes crucial. Rosalind Hudnell, Chief Diversity Officer, Intel. As quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) • “I was great at building businesses and had tons of cheerleaders, but I had that typical Asian keep-your-head-down-and-you’ll-get-taken-care-of mindset.” My boss had to take me aside and tell me that if I didn’t actively cultivate her as my sponsor, I would never progress beyond senior associate” (quoted in Hewlett, Sylvia Ann, Melinda Marshall, and Laura Sherbin. “The Relationship You Need to Get Right,” HBR 2011) To reiterate: an organization is not purely a meritocracy where talent and hard work speak for themselves; and it’s much, much harder to advance within an organization without effective advocates. Renee Dye is an Professor in the Practice of Organization & Management at Goizueta Business School. For more insight and to continue reading this article and series, please visit Dye’s blog. To arrange an interview – simply click on Dye’s icon now to book a time today.
When investors are deciding whether to put their capital into a company, they typically take a breadth of different factors into account. Earnings, performance, market share—all of these are critical, for sure. But equally important is belief in the talent and capabilities of the organization, and its most visible human face: its CEO. How a CEO comes across at key touchpoints such as earnings calls can significantly shape investors’ perceptions of his or her abilities. We know from research that even subtle things like tone of voice can increase—or diminish—shareholder confidence. So, too, can subliminal emotional or behavioral cues in speech. But what about something arguably more obvious and easier to quantify? What about accent? Until now, remarkably little attention has been given to how much sway a CEO’s accent has on investors’ impressions or attitudes. We simply don’t know whether chief executives with “foreign” accents fare better or worse with shareholders than native US-English speaking counterparts. And this subject matters. It’s estimated that as many as 9% of all companies in the US and more than 11% of Fortune 500 firms are run today by foreign-born chief executives. How investors perceive these CEOs relative to native speakers could have major implications for hundreds of thousands of organizations. Shedding compelling new light on this is new research by Goizueta PhD candidate Leonardo Barcellos, and Schaefer Chaired Professor of Accounting Kathryn Kadous. Together they have produced a study that suggests that accent does matter – though perhaps not in the way that many of us might think. That study and the entire article is attached – and well worth the read. And if you are a journalist looking to learn more about this topic – then let our experts help. Kathryn Kadous is the Schaefer Chaired Professor of Accounting and Director and Associate Dean of PhD Program at Goizueta Business School. She is available to speak with media – simply click on her icon now to arrange an interview.
The health and safety of their children is the top priority of every parent. And after more than a year and a half of enduring a pandemic, mothers and fathers across America have been inundated with news, information and debate about what’s best for all of our health and how to avoid contracting COVID-19. And now, as America is seeing vaccines approved for children five and over, parents and the media are relying on leading experts to provide honest guidance, advice, and clarity on what parents need to know about what’s best for the health of America’s kids. It’s why Dr. Jody Terranova, a physician at UConn Health and the president-elect for the Connecticut chapter of the American Academy of Pediatrics, is getting the word out to parents: The state of Connecticut is already rolling out vaccinations for children ages five to eleven. This move comes on the heels of the CDC's formal recommended emergency use authorization. Within hours of the announcement, children here have rolled up their sleeves. One UConn School of Medicine pediatrician says she understands why parents have questions and hopes to clarify a few important details. Not only is Dr. Jody Terranova the president-elect for the Connecticut chapter of the American Academy of Pediatrics, she was also a member of the scientific sub-group of the state of Connecticut governor’s COVID-19 vaccine advisory group. “At this point, we are really recommending that all five to eleven-year-olds get vaccinated. There are very few children that should not get vaccinated right now," Dr. Terranova explained. Dr. Terranova admits the topic of vaccines for children ages five to eleven is a sensitive issue. That’s why in order to make an informed decision for your family, it's critical to ask important questions, like how does the vaccine work to protect the pediatric population from COVID-19? “The vaccine that we are giving for COVID works very similar to other vaccines, where it’s really activating your immune system to mount a response to recognize that virus when it invaded your body and create antibodies that will attack it so that it can’t replicate and infect you or your child," continued Dr. Terranova. November 4 - Eyewitness News If you are a journalist looking to know more about the COVID vaccine for children and the important information parents need to know, let us help with your coverage. Dr. Terranova is available to speak with media – simply click on her icon to arrange an interview today.
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As America continues down the long road of adapting, adjusting, and advancing safety efforts in order to overtake COVID 19 – vaccinations have now been approved for children five and older. It’s welcome news for health care experts and epidemiologists – but there’s no doubt this most recent development has parents concerned about the safety and potential consequences children could face if they roll up their sleeves to get immunized. Since this next step was announced, it’s gotten the attention of media and parents from across the country. Augusta University experts have been front and center to help with the messaging. The vaccine rollout for kids ages 5 to 11 starts now. Right now, local hospitals and pediatric offices are working to get doses to the river region. For the past nine months, we’ve seen different rollouts for different age groups come through Augusta University Health’s mass vaccination site. AU Health says it’s still up in the air right now whether this will be the main site you’ll bring your kids to get vaccinated. But what we do know is that 1,200 doses are on the way. “Every single individual has been paramount in this response,” said Dr. Joshua Wyche, AU vaccine coordinator. AU Health officials say they aren’t even close to accomplishing their mission to get everyone vaccinated. “We’re very fortunate to have caregivers that care so much about their community that want to make this impact and continue to push through during this pandemic,” Wyche said. November 03 - WRDW/WAGT Augusta An update from the CDC: kids can start rolling up their sleeves to get their COVID-19 vaccine. This means nearly 30 million American children ages five to 11 are now eligible for the vaccine. That's a little under 1 million in Georgia and 450,000 in South Carolina. But some parents still have concerns about the vaccine's safety. “For the vast majority of people and for parents as they’re looking for how they can protect they’re children best from COVID-19, having access to the vaccine now gives them another tool to protect their child,” says Augusta University Strategic Planning & Pharmacy VP Dr. Joshua Wyche. November 03 – Fox News Child vaccinations are an important topic – and it is essential that accurate details and information are shared with media and parents across the country, and that’s where Augusta’s experts can help. Dr. Joshua Wyche is accomplished pharmacist with an extensive background in business management. He is an expert in strategic planning and pharmacy services. Dr. Wyche is available to speak with media regarding this important topic – simply click on his icon now to arrange an interview today.
MEDIA RELEASE: Is your vehicle ready for winter? What you need to do to prepare for the season ahead
Temperatures are getting colder, Ontarians are bundling up, and CAA South Central Ontario (CAA SCO) is recommending that now is the right time to get your vehicle winter ready. “Preparing for unpredictable driving conditions will help ease the frustration and anxiety that comes with colder weather,” says Kaitlynn Furse, director, corporate communications, CAA Club Group. “Before the winter season starts ensure your car is in tip top shape.” If you’re uncertain of when or how to get ready for winter driving, the top three things you can do right now are: packing an emergency roadside kit, installing your winter tires, and checking your car battery. CAA recommends packing a fully stocked emergency roadside kit so in case something does happen while on the road, you have everything to stay safe until help arrives. The kit should include a flashlight and extra batteries, warning devices (e.g., flares, reflective vests/strips), a first aid kit, blankets, jumper cables, non-perishable food and water plus a phone charger. Be sure to also keep an ice scraper, small shovel and snow brush handy in your car at all times. With the temperature consistently hovering around 7° Celsius, it’s important to install four matching winter tires to fully optimize your vehicle’s handling, stability and braking. “Compared to all-season tires, winter tires stay flexible in cold temperatures giving you better traction, whether or not there’s snow on the ground,” says Furse. “This may reduce your stopping distance by a few feet which can be the reason for preventing a collision.” While installing your winter tires, CAA recommends also asking your mechanic to check your car battery. “Even a fully charged battery can lose power when the temperature dips below 0° Celsius,” says Furse. “It’s important to have your car battery tested in the fall to ensure it’s ready for the winter.” Are you unsure if your car battery will make it through the winter months? Watch for the following warning signs that a battery may need to be replaced: Your vehicle cranks slowly when trying to start. It takes 175 to 250 amps of battery power to get a car going. If your car is slow to start, you might be dealing with an insufficient charge. Your headlights dim while idling. When idle, a car may draw more power than the alternator alone can produce, so your battery kicks in. If your headlights dim when you are idling but brighten when you rev the engine, it could mean a drained battery. Your digital systems power down quickly. Electronics like the radio, GPS, dash cams and other accessories, especially in modern cars, use battery power when the engine is off. If they stop functioning properly, it could suggest a weak battery. You hear a grinding, clicking or buzzing noise when you turn on the ignition. It’s important to be able to distinguish the reason your vehicle may be making noises, usually these sounds mean your battery has lost its charge but if you’re still unsure, get your vehicle checked by a professional. Your vehicle has stalled. The stored energy in your car battery is essential for starting the engine, without its juice, you won’t be going far. If your battery is giving you problems or you are unsure if it’s time to replace it, you can call CAA’s Mobile Battery Service at *222 to have a trained CAA SCO Battery Service Representative come test your battery and provide a helping hand.
Youngkin wins Virginia - let our expert explain how it happened
It was a governor's race that had a lot of star-power, got a lot of attention and was supposed to be a referendum and affirmation on the first year of the Biden agenda. But the people of Virginia spoke with their votes Tuesday evening - and the state that overwhelmingly supported Joe Biden one year ago changed lanes and turned red. There will be no doubt an enormous amount of explanations, excuses, analysis and finger-pointing on both sides of the politcal spectrum regarding this outcome and what is says about the upcoming elections in 2022. And if you are a journalist covering this election - the let our experts help. Dr. Stephen Farnsworth is a sought-after political commentator on presidential politics. He has been widely featured in national media, including The Washington Post, Reuters, The Chicago Tribune and MSNBC. If you are a reporter covering Virginia's gubernatorial race, simple click on his icon to arrange an interview today.
Emory Experts - Why Companies Invest in Local Social Media Influencers
Companies seek local influencers to pitch products. Even though most influencers amass geographically dispersed followings on social media, companies are willing to funnel billions of sponsorship dollars to multiple influencers located in different geographic areas, effectively creating sponsorships that span cities, countries, and in some cases even, the globe. The desire to work with local influencers has spawned advertising agencies that specialize in connecting companies with influencers and may soon redefine the influencer economy. This trend has merit, our research team finds. In a new Journal of Marketing study, we show a positive link between online influence and how geographically close an influencer’s followers are located. The nearer a follower is geographically to someone who posts an online recommendation, the more likely she is to follow that recommendation. To investigate whether geographical distance still matters when word of mouth is disseminated online, our research team examined thousands of actual purchases made on Twitter. We found the likelihood that people who saw a Tweet mentioning someone they follow bought a product would subsequently also buy the product increases the closer they reside to the purchaser. Not only were followers significantly associated with a higher likelihood to heed an influencer’s recommendation the closer they physically resided to the influencer, the more quickly they were to do so, too. We find that this role of geographic proximity in the effectiveness of online influence occurs across several known retailers and for different types of products, including video game consoles, electronics and sports equipment, gift cards, jewelry, and handbags. We show the results hold even when using different ways to statistically measure the effects, including state-of-the-art machine learning and deep learning techniques on millions of Twitter messages. We posit that this role of geographic proximity may be due to an invisible connection between people that is rooted in the commonality of place. This invisible link can lead people to identify more closely with someone who is located nearby, even if they do not personally know that person. The result is that people are more likely to follow someone’s online recommendation when they live closer to them. These online recommendations can take any form, from a movie review to a restaurant rating to a product pitch. What makes these findings surprising is that experts predicted the opposite effect when the internet first became widely adopted. Experts declared the death of distance. In theory, this makes sense: people don’t need to meet in person to share their opinions, reviews, and purchases when they can do so electronically. What the experts who envisioned the end of geography may have overlooked, however, is how people decide whose online opinion to trust. This is where cues that indicate a person’s identity, such as where that person lives in the real world, come into play. We may be more likely to trust the online opinion from someone who lives in the same city as us than from someone who lives farther away, simply because we have location in common. Known as the social identity theory, this process explains how individuals form perceptions of belonging to and relating to a community. Who we identify with can affect the degree to which we are influenced, even when this influence occurs online. Our findings imply that technology and electronic communications do not completely overcome the forces that govern influence in the real world. Geographical proximity still matters, even in the digital space. The findings also suggest that information and cues about an individual’s identity online, such as where he/she lives, may affect his/her influence on others through the extent to which others feel they can relate to him/her. These findings on how spatial proximity may still be a tie that binds even in an online world affirm what some companies have long suspected. Local influencers may have a leg up in the influence game and are worth their weight in location. For these reasons, companies may want to work with influencers who have more proximal connections to increase the persuasiveness of their online advertising, product recommendation, and referral programs. Government officials and not-for-profit organizations may similarly want to partner with local ambassadors to more effectively raise awareness of—and change attitudes and behaviors towards—important social issues. Goizueta faculty members Vilma Todri, assistant professor of Information Systems & Operations Management, Panagiotis (Panos) Adamopoulos, assistant professor of Information Systems & Operations Management, and Michelle Andrews, assistant professor of marketing, shared the following article with the American Marketing Association to highlight their new study published in the Journal of Marketing. To contact any of the experts for an interview regarding this topic, simply click on their icon to arrange a time to talk today.
Emory Experts - Post-Financial Crisis: How Well do Mutual Fund Stocks Fare?
Following the global financial crisis in 2008, the assets of passively managed mutual funds have ballooned, while the market share of actively managed funds has fallen dramatically. Addressing this topic, a new research has been coauthored by Jeffrey “Jeff” Busse, professor of finance, and Goizueta alumni Kiseo Chung 17PhD, assistant professor of finance, Texas Tech University and Badrinath Kottimukkalur 17PhD, assistant professor of finance, George Washington University. In their paper, the researchers explain the shift in assets from actively managed funds to passive funds, “Impediments to Active Stock Selection and the Growth in Passive Fund Management. In 1999, Busse and his coauthors explain, the net assets of passive funds were “less than an eighth the assets of active funds.” But by the end of 2019, “the market share of passive equity funds increased to more than 50 percent,” Busse, Chung, and Kottimukkalur note. Passive funds track indices such as the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, and Wilshire 5000—all indices that have been difficult to beat over the last decade. According to the Wall Street Journal, from 2008 to 2018, more than 80 percent of actively managed funds in the U.S. underperformed the S&P Composite 1500. This is in large part, the trio notes in their paper, because the so-called “FAANG” stocks—Facebook, Apple, Amazon, Netflix, and Google—comprise such a large part of these indices. In fact, the top 10 stocks in the S&P 500 currently make up around 30 percent of its market cap. “The market caps of these companies are huge, and they’ve done exceptionally well since the financial crisis,” Busse explains. Hence, active fund managers and their teams of analysts have found it much more challenging to discover undervalued and overlooked stocks with positive alphas ─ the stocks that outperform an index. “As such, a general move toward passively managed funds is not so surprising,” the paper reveals. Finding Diamonds and Avoiding Duds Making it even more difficult to find diamonds in the rough is a lack of volatility in the stock market. Except for some isolated periods, including the month or so around the start of the pandemic in March 2020, the market hasn’t experienced much volatility since 2008. Without wide swings in prices, fund managers have less opportunity to buy low and sell high. Over the same time period, aggregate stock liquidity has also been high, which means less chance for fund managers to pick up winners at bargain prices. “When there’s money in the market—when there’s liquidity—it means there aren’t a lot of disagreements on prices,” explains Busse. “Liquidity is inversely related to mispricing,” the researchers explain in their paper. This combination of circumstances—the rise of the FAANG stocks, the lack of market volatility, and higher liquidity—is making it much more difficult for actively managed funds to find stocks that will help their funds beat the indices, and therefore, outperform the passive funds. As a result, justifying their management fees gets more complicated. According to Thomson Reuters Lipper, the average expense ratio (management fees divided by total investment in a fund) for actively managed funds is 1.4 percent compared to 0.6 percent for the average passive fund—nearly three times as much. While active fund managers have realized that these higher costs are no longer paying off and have moved to reduce them, actively managed funds continue to lose market share. Market Share Gain of Passively Managed Funds While the authors weren’t surprised by the growth of passively managed funds, they were surprised by how much they grew. From 1999 to 2019, the authors note, the number of actively managed funds grew by 11 percent, while the number of passively managed funds increased by 244 percent. “There haven’t been any papers that try to explain why passive funds have gained so much market share,” says Busse. He and his coauthors believe their research illustrates that it’s in large part because the market, post-financial crisis, is challenging for stock pickers. “As such, it has been difficult for actively-managed funds to recoup the costs associated with active management, and compared to earlier periods, passively managed funds are better positioned to gain market share,” they explain. “As the payoffs to active management decrease, it becomes more difficult to justify the costs of active management, and, thus, we expect funds to decrease these costs given their negative performance implications.” Busse doesn’t believe the current fund management environment will continue indefinitely. When the pandemic knocked the S&P 500 down 30 percent in March 2020, managers did gain opportunities to find positive alpha stocks—which they bought. “It’s just, on average, over the last 10 years, there haven’t been enough of those opportunities,” explains Busse. “It’s a matter of hanging in there and, in some sense, keeping your investors from fleeing to passive funds until the environment is a little bit better.” Jeffrey Busse is the Goizueta Foundation Term Professor of Finance where his research focuses on investments, with an emphasis on mutual funds. Jeff is available to speak with the media regarding this important topic – simply click on his icon now to arrange an interview today.
CAA Insurance Company is proud to announce the expansion of Canada’s first and only pay-as-you-go auto insurance payment program, CAA MyPace™, in Ontario. The program allows motorists to monitor how much they are driving and to pay for auto insurance based on that mileage. After three years where thousands of Ontario drivers have benefitted from CAA MyPace, CAA Insurance is now providing greater savings by expanding access to those who drive less than 12-thousand kilometres annually. Previously it was designed for those who drive less than 9-thousand kilometres. “Since the launch of the program back in 2018, CAA MyPace has been generating a great deal of interest in the market, and consumers are asking for it by name,” said Matthew Turack, president, CAA Insurance Company. “As many Ontarians continue to drive less than they did two years ago, we are excited to make this program available to even more Ontario drivers.” The uniqueness of CAA MyPace in the Ontario auto insurance market has resulted in considerable interest by drivers. The number of new CAA MyPace policies during the pandemic period of January - September 2021, increased by 418 per cent compared to the same pre-pandemic period of January - September 2019. The growth directly results from customers who made the switch to CAA MyPace and are seeing significant savings. On average, CAA’s pay-as-you-go policyholders save 50 per cent on their auto insurance costs compared to a traditional policy. An August 2021 survey of over 2,100 Ontarians, conducted by CAA Insurance, indicated that 64 per cent of respondents would consider a pay-as-you-go product now or at their time of renewal. “Expanding our lifestyle products and programs gives CAA Insurance the ability to be responsive to the needs of our customers and to ensure that we are there for them in every stage of life,” says Turack. New customers can enrol in the expanded CAA MyPace program starting November 15, 2021. Existing CAA MyPace customers will be automatically transitioned into the expanded program, with no additional costs at renewal, effective January 15, 2022.
