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(11/12/13 4:06pm)
• Sales of DSLR cameras, the large cameras with interchangeable lenses used by photographers, are rapidly declining, raising concerns for companies such as Canon Inc. and Nikon Corp. The change is due to the widespread use of smartphone cameras, according to the Wall Street Journal.
• Starbucks has pledged to hire 10,000 veterans and spouses of men and women in active duty over the next five years. The coffee giant is one of many companies looking to hire returning vets, according to CNBC.
• Former real estate writer and the man who coined the now famous term “the fiscal cliff,” Walter H. Stern, died last week at age 88. The writer first used the term in an article back in 1957, according to the New York Times.
• Lays Potato Chips has developed a new sweet and savory combination: the chocolate-covered potato chip. If successful, the company plans to unveil a line of salty, chocolate products such as fondue dips and other chips, according to Bloomberg Business Week.
• Marvel Comics is planning to introduce a new superhero. Her name is Kamala Khan and she is a Muslim-American teenager living in Jersey City, according to the New York Times.
• Freshman enrollment in private schools has plummeted over 10 percent since 2010 due to price-conscious students eliminating expensive schools as an education option, according to the Wall Street Journal.
• “Thor: The Dark World,” the most recent movie by Disney’s Marvel Comics, took the number one slot at the box office this weekend. Sales were not only driven by strong domestic interest, but also unexpected and tremendous success internationally, according to the Wall Street Journal.
(11/12/13 4:04pm)
Stiletto Networks are small groups of professional women who support each other in both their careers and personal lives, and these groups are continuously growing in popularity. Pamela Rychman coined the term “Stiletto Network” and broke down its story and success as the keynote speaker at the School of Business’s Women’s Leadership Summit on Tuesday, Nov. 5.
Rychman recently authored the book, “Stiletto Network,” which tells the story of groups of professional women who effectively used their women’s groups to create success and support.
“Women are describing these groups as life changing, destined, fated and meant to be,” she said, adding that the women forming these small groups are surrounding themselves with people they want to be around and, as a result, are creating real friendships.
These groups can be formed at various stages in life, but some of the most successful are those that are formed early so they can grow and find their successes together.
In addition to being an author, Rychman has written for various financial publications, including the Financial Times and the New York Times, and often speaks about the power of networking groups to colleges, universities and corporations.
In an open discussion with students following her main presentation, Rychman gave advice and answered questions about networking and being a woman in a corporate environment.
“It’s not that there aren’t women in power,” Rychman said. “Women don’t self promote.” Women in the workplace have been discouraged from advertizing what they want and discouraged from going for the jugular, she said.
Rychman explained that one of the many advantages of having a networking group is that women don’t have to promote themselves alone.
“If self promoting sounds a little icky to you, then there are nine other women excited to help,” Rychman said.
One of the biggest challenges with forming a Stiletto Network is organizing events around the busy schedules of professional women.
Rychman said the most successful groups meet in each other’s homes for dinner or lunch and rotate who the host will be.
“Technology keeps the groups close when they cannot meet,” she said.
The groups are all peer-to-peer communication that creates a safe and trusting environment for sharing.
Rychman recommended that young women also get involved in a mentor program with women who are already in their fields.
She warned, however, that students should not immediately be looking for what their mentors can do for them, but rather make themselves helpful, productive and stand out within the company.
“You will make yourself visible,” Rychman said.
The growing number of women’s networking circles, dinner groups and Stiletto Networks represent a change in professional lives. Rychman explained that modern women’s lives are blended.
Women are friends with colleagues at work, their kids play together and they do things socially in addition to cooperating on office work. Women are finding support in these professional friendships.
“That’s the way the world is moving,” she said.
(11/06/13 10:54pm)
Employee training programs funded by government grants, such as the Opportunity4Jersey Training Grant Program, decrease the opportunity cost of obtaining additional education or training for workers and provide trained workers to employers. As a result of the increased training and lowered cost, frictional unemployment decreases.
The Opportunity4Jersey Training Grant Program is an effort by the New Jersey Department of Labor and Workforce Development (LWD) to “increase employment opportunities for qualified unemployed workers and to connect training with employer-driven occupational demand skills in targeted industry sectors,” according to the Department. The current sectors being targeted for training are transportation, logistics and distribution; biotechnology, pharmaceuticals and life sciences; advanced manufacturing; financial services; health care; technology; and leisure, hospitality and retail, according to LWD. These industries have been identified as both key industries for the state as well as areas where companies need skilled workers.
Traditionally, the cost of higher education or vocational training would mean not only time spent out of the workforce, but also the absence of full-time income. When looking at potential earnings streams, an individual who attends college or training is incurring debt for the length of the program. The worker who goes directly into the workforce begins earning an income immediately. The advantage of having the additional education or training is the constant increase in wages with each year of education, so a worker raises his lifetime earnings potential as he moves along the wage-schooling locus.
Grant Training Programs, like Opportunity4Jersey, are free for unemployed workers to participate in. This offers a solution and a change for workers who entered the labor force without obtaining any higher education or job training because they were unable to give up the time or pay the cost. Training can be offered in either a classroom-type setting or electronically, according to LWD. The lower opportunity cost and ease of access to the training increases the number of workers who will participate and gives the ability to earn a higher income at a future job.
The second benefit of Opportunity4Jersey is the relationship the program has established with employers. Companies that apply to have workers trained for current job openings are required to hire the newly-trained workers upon graduation from the program, according to LWD. The requirement is in exchange for the government finding qualified employees for the firm and providing the free training program that may have otherwise been offered through the company itself.
Matching the newly-trained workers with employers who are looking for a particular skillset reduces frictional unemployment. Frictional unemployment is defined as the unemployment that results from workers having to take time to find employers who are hiring employees with specific skills and at a desirable wage, according to the Bureau of Labor Statistics.
Grant Training Programs are an example of a productive, government-funded way to reduce unemployment while simultaneously increasing a worker’s potential lifetime earnings and the productivity of a firm.
(11/06/13 8:57pm)
• Thanksgiving falls much later than last year, leaving only 25 days between Black Friday and Christmas. Due to the delay (six shopping days less than last year), consumers can expect to see holiday deals beginning earlier, before Thanksgiving feasts and the famous holiday-shopping kick-off, according to the Wall Street Journal.
• Since the banking crisis, bankers have reduced the number of loans being given to small businesses. As a result, the popularity of “shadow lenders,” or alternate lending institutions such as high-end pawnshops, has grown substantially, according to the Wall Street Journal.
• “Ender’s Game,” earning $28 million in ticket sales over the past weekend, took the top slot at the box office. The futuristic film tells the story of two children selected to battle an enemy race, according to Reuters.
• Amazon.com Inc. is using data mined from users viewing 20 pilot episodes for potential original TV shows to decide which to create and what viewers are most interested in seeing in a television show. The first series to be created is a comedy about four politicians called, “Alpha House,” according to the Wall Street Journal.
• American automotive companies General Motors and Ford topped their foreign competitors in October sales as the popularity of large SUVs and trucks increased. The change in Americans’ taste is largely due to the decline in gas prices, according to the Wall Street Journal.
• Now that it is legal in all 50 states to carry a concealed weapon (if one obeys the varying restrictions), firearms companies, such as Remington Arms Co., are producing a clothing line catered to those who choose to carry firearms. Examples include the “Smoothbore Field Coat” ($1,295) and the “Double Derringer Leather Vest” ($300), according to Reuters.
• While Manhattan apartments remain out of most Americans’ pricerange, luxury apartments in New York are considerably cheaper than comparable apartments in other international cities such as London. The result is an increased number of international buyers in the New York real estate market, according to the New York Times.
• Growing demand for locally grown and organic foods has sparked a new group of businesses specializing in renting out hens. Families can now, for a price, receive a coop, feed, necessary tools and several egg-laying hens to keep for a summer. The rental program represents an option for families not looking to make the large commitment of raising hens all year and from the time they are chicks, according to the New York Times.
(11/06/13 8:41pm)
Kendall Hall filled with students and many were turned away when Nobel Prize winner and Princeton professor Paul Krugman visited the College on Wednesday, Oct. 23. The economist and New York Times writer gave a presentation regarding the U.S. Government’s involvement in the Great Recession and the current recovery, “Are we Greece?”
“This event was a telling sign of TCNJ’s ever-growing academic reputation and it was inspiring to see Kendall Hall filled to capacity,” senior economics major Chris Attardo said.
His lecture began with a joke.
“I have to apologize. It did not seem right to wear a tie to an event that is only 20 minutes from my house,” he said. Krugman maintained this casual and sometimes comedic disposition throughout the entire lecture.
During the lecture, Krugman outlined of the problem the Federal Bank faced when it began to lower interest rates in an effort to stimulate economic growth during the recession following the 2008 stock market crash.
“They ran into a big problem that can be summarized in one word: zero,” Krugman said. He was referring to the lower zero bound problem, or that interest rates could not be lowered any further because they were already too close to zero in 2008.
Krugman proceeded to compare and contrast the Great Recession to various periods in U.S. economic history as well as economic crises in Europe and Japan. He stated that Japan had handled its crisis in the late 1990s better than the United States had handled and is currently handling the Great Recession.
“The Japanese government purposely created the crisis we fear the most,” Krugman said. Japan is experiencing growth because its government set a goal for higher inflation in an effort to increase trade, he explained.
His only positive comment about the U.S. government’s handling of the Great Recession was that “it’s not as bad as the Great Depression.”
Krugman jokingly suggested the observation as a potential campaign slogan for the Obama administration.
Despite the complexity of the presentation, Krugman was able to break down each economic factor and topic in a simple manner so he could reach the diverse student audience. He used the same accessibility he often employs in his articles for the New York Times.
“I think it’s important for students of different disciplines to be exposed to experts in fields aside from their own area of study,” sophomore biology major Asmi Panigrahi said.
Following the lecture, the floor was opened up to any questions the audience had about Krugman’s writings or the lecture. Questions ranged from the impact of technology on our economy to more abstract concepts such as whether economics is a science.
Krugman answered students’ questions in detail. When the presentation had to end, there were still students in line to ask the economist questions.
“Having Mr. Krugman speak at the College was truly a unique experience and a great privilege,” Attardo said.
(11/06/13 8:16pm)
When autumn arrived, the College’s students found time to get off campus and enjoy the crisp, beautiful season. Students visited a variety of places in the surrounding area, some are well known destinations and others are hidden gems.
Grounds for Sculpture:
One town over from the College, in Hamilton, N.J., Grounds for Sculpture is a public modern sculpture garden and museum. The grounds opened to the public in 1992, thanks to the vision of philosopher and sculptor, J. Seward Johnson. Visitors can roam and explore the 42 acres filled with sculptures ranging from Robert Strang’s abstract forms to intricate, realistic scenes sculpted along the river.
“I would say the best part was seeing famous paintings such as “The Scream” brought to life in a 3D sculpture that allows you to actually see the subject from all sides,” said freshman physics major Tim Osborn after his trip to the Garden’s with the College’s honors program. Admission is $12 for adults, and within the garden there is restaurant and small café.
Trenton Farmer’s Market:
When looking for pumpkins and gourds to decorate a dorm room, or fruits and vegetables to do some weekend cooking, the College’s students turn to the Trenton Farmer’s Market.
The market is located on Spruce Street right next to the common ice cream destination, Halo Farms.
The fruitful market has rows upon rows of freshly grown and relatively inexpensive produce from a collection of local farms. In addition to the products that grow there, the market also sells homemade desserts and breads.
Princeton Art Museum:
Hidden a bit deeper within the Princeton University Campus, the Princeton Art Museum has 80,000 pieces of art from a broad range of world regions and time periods.
The museum frequently hosts exhibits in addition to the usual collection.
The museum is an indoor fall activity, but if the weather is beautiful, the University’s campus and Nassau Street can stand alone as destinations to explore when students are looking to make a day of their trip to Princeton.
Terhune Orchard:
When it is time for time for the most classic of fall events — apple picking — students at the College pay a visit to Terhune Orchard in Princeton.
The homey, family farm lets apple-lovers pick their own apples in the orchard in addition to picking their own pumpkins and relishing in farm animals and freshly-baked pies.
[caption id="" align="alignright" width="280" caption="Locals shop around at Tyler State Park. (Courtney Wirths / Photo Editor)"][/caption]
Tyler State Park:
Across the river, in the neighboring Buck’s County, Tyler State Park offers students a chance to go hiking, fishing and picnic or even enjoy a game of disc golf.
The park is 1,711 acres and has four miles of hiking trails. Along the trails, hikers can stop off at picnic groves or explore the shore of the Neshaminy Creek. The park frequently hosts craft fairs and the Center of the Arts there offers classes and workshops.
(10/22/13 3:20pm)
• Three weeks after its initial launch, Americans still struggle to get through some of the bugs and glitches on Healthcare.gov. “No one is madder than me about the fact that the website isn’t working as well as it should ... It’s going to get fixed,” President Obama said in the Rose Garden, according to the New York Times.
• Classic characters of rock ’n’ roll, such as Thom Yorke of Radiohead and Talking Heads frontman David Byrne, refuse to allow their content to be put on the music-streaming site, Spotify, saying music- streaming sites have the potential to ruin music’s creativity, according to CNBC.
• Science-fiction movie, “Gravity,” starring Sandra Bullock and George Clooney, was No. 1 at the box office for a third week in a row. The 3D hit is a huge success for Time Warner Inc., according to the Wall Street Journal.
• Netflix Inc. reached 30 million subscribers as of Sept. 30, and the online video streaming giant is poised to pass HBO in paid U.S. subscribers. The milestone will prove that the company is reaching its goal of becoming a web-based television network, according to Bloomberg.
• Apple Inc. is on track to unveil their new iPads on Tuesday, Oct. 22. The company’s iPad mini is the best-selling tablet in the world and accounts for two of every three iPads sold, according to the Wall Street Journal.
• Last week, Google, after reporting better than expected quarterly earnings, traded at over $1,000 per share. The drive was caused mainly by increased usage on mobile devices, according to the New York Times.
• Betty White is making her safety video debut. Air New Zealand, famous for providing entertaining in-flight safety videos, released a new video featuring the “Golden Girl” in a retirement home, according to CNBC.
• Retail giant J.C. Penney has decided to sell less Martha Stewart Living Omnimedia Inc. products. The two companies were sued by Macy’s on allegations of breaking an exclusive merchandising deal between Macy’s and Stewart, according to CNBC.
(10/15/13 3:13pm)
• President Obama officially nominated Janet Yellen to be the next chairman of the Federal Reserve. If appointed, she will be tasked with deciding when to end the controversial bond-buying program, according to the Wall Street Journal.
• For the third straight month, Americans cut back on their credit card use. This could mean a decline in consumer spending, according to the New York Times.
• The number of Americans who watch online video content has grown significantly over the past four years. Humorous and educational videos are the top genre viewed by adults today, according to CNBC.
• Google Inc. will now be including the names of users in advertisements on webpages. For the tech-giant to include a user in an ad, he or she will have to share, like or follow something on Google+ (Google Inc.’s Facebook equivalent), according to the Wall Street Journal.
• Starbucks, led by CEO Howard Schultz, kicked off a petition to encourage law-makers to come to an agreement to reopen the government. On the first morning of its creation, more than 200,000 people had already signed, according to CNBC.
• Consumer confidence recently reached its lowest level in nine months. Though sentiment declined, the drop was relatively small as consumers spook less easily when reading about major economic indicators, according to CNBC.
• Americans Eugene Fama, Lars Peter Hansen and Robert Shiller took the Nobel Prize in Economic Sciences for their research into the operations on financial markets, asset prices and behavioral economics, according to the Wall Street Journal.
• A new psychological study that was released asserted that chewing popcorn in movie theaters allows people to avoid internalizing the subliminal messages of advertising, according to Bloomberg Businessweek.
• Blackberry Ltd. eased customers’ concerns in an open letter it released on Monday, Oct. 14 about its recent financial struggles. According to CNBC, the company has had trouble selling its most recent products, but claimed that their label is “here to stay.”
(10/08/13 4:36pm)
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On Saturday, Oct. 5, Quimby’s Prairie was transformed into a vibrant field of tall, white tents and brightly-colored picnic blankets. It was Community Fest, an annual tradition that brings Ewing families, businesses and the College together for a day of fall festivities.
The band Crazy Ivan could be heard all around campus, pumping out classic rock and backyard-barbeque tunes. Toddlers danced together on the green while parents watched from the stands.
“The weather is perfect,” said Adam Priori. “It made us want to come out and enjoy the day.” Priori and his family painted pumpkins at one of the many craft tents at Community Fest.
Community Fest is entirely run by volunteers from both the College and the town.
The Senior Citizen Advisory Council was one of the many local organizations assisting with the day’s events, according to Chirley Csercsevits. Csercsevits has been volunteering at Community Fest for over five years.
Students and teachers from the local high school volunteered to paint faces. Many student organizations could also be found running booths under the event’s big white tents.
The Student Chemists Association was conducting a bubble experiment for children using dry ice, bubbles and water.
“We’re showing enthusiasm for chemistry and sharing it with Ewing,” sophomore chemistry major Susan Knox said.
The Ewing Green Team was playing Frisbee on the field and giving out Frisbees to anyone who wanted one. This organization, in cooperation with the College’s Bonner scholars, works to promote sustainability in the community.
“We are always trying to make Ewing a healthier and greener place to live,” said sophomore biology major Aygen Heparker.
The outside of the Prairie was lined with the booths, tents and trucks of various local eateries. The cuisines available at the event ranged from hotdogs and cheesesteaks to homemade sandwiches and Danishes.
“It’s a really great day to come out as a community,” said JoAnne Brown while she served a delicately decorated cupcake from her bakery, Let Them Eat Cake. Brown explained that Community Fest is a great opportunity for small businesses to introduce themselves to the neighborhood.
For the food-truck Pura Vida, meaning “pure life,” it was its first time at Community Fest.
“We’re rookies today,” said Gilberto Ramirez from the window of the truck. “It’s an awesome day — a beautiful time with beautiful people.”
(10/08/13 4:34pm)
• Towns around the nation are being forced to use state and local funds in order to keep national parks open in these last few weeks of the tourism season. All national parks were closed as a result of last week’s government shutdown, according to the Wall Street Journal.
• The U.S. Military is making a large shift toward more energy-efficient fuels and practices. The primary motivation is not environmentalism, but safety. Fuels like solar energy present much less of a risk to troops than do fuel tankers in dangerous regions of Afghanistan, according to Bloomberg.
• Walmart Stores Inc., after struggling in Asia with regulations, slowing economies and competition, is now open to potential deals in China. China represents a large chunk of the discount giant’s plan for expansion in Asia, according to the Wall Street Journal.
•A survey conducted by George Washington University revealed that more than a third of Americans currently lack basic financial literacy, meaning they cannot compound interest or understand the differences in mutual funds and common stocks. The lack of knowledge can directly correlate to poor financial decision-making in the current complex economy, according to the New York Times.
• The federal income tax celebrated its 100th birthday on Friday, Oct. 4. This century old tax’s big day brought with it a discussion on whether the tax needs to be reformed to fit today’s changing economy, according to CNBC.
• After releasing detailed plans about their initial public offering, the social media site Twitter received a message that its 218-million-user audience may still be too small for many large-scale advertising companies, according to the Wall Street Journal.
• Cattle and hog prices are expected to rise in the coming months due to a decrease in the supply of animals going to butcher. There has also been a recent increase in the demand for the meat, according to Bloomberg.
(10/01/13 4:28pm)
• King.com, the creator of the popular Candy Crush Saga, filed for its initial public offering (IPO) with the Securities and Exchange Commission. The Candy Crush Saga has earned the company 250 million monthly active players and generates a few million dollars a day, according to CNBC.
• McDonald’s Corp., in an effort to push healthier eating choices, is now going to offer costumers a side salad, fruit or vegetables in the place of French fries on all value meals. The company is also planning to push healthier beverage choices in Happy Meals, according to the Wall Street Journal.
• AMC Networks’s hit show “Breaking Bad” ended on Sunday, Sept. 29 after a successful five seasons. The AMC original series had more than seven million viewers every week and the company plans to continue to move in the direction of increased original content, according to Barron’s Magazine.
• A combination of new emissions regulations and cheap natural gas prices are driving many commercial marine operators to begin running their ships on cleaner liquefied natural gas rather than diesel, according to the Wall Street Journal.
• In a new trend in organic products and environmentalism, hotels around the world are using their rooves to house beehives. The honey harvested by beekeepers is then used for drinks, dishes and spa products in the hotels, according to CNBC.
• Orbital Sciences Corp. became the second commercial entity to successfully send a spacecraft to the international space station on Sunday, Sept. 29. The event marks another step in the privatization of NASA’s human spaceflight program, according to the Wall Street Journal.
• The Star Ledger, the largest newspaper in New Jersey, came to an agreement with unions on a new contract for its staff this past week. The contract still has to be approved, but the settlement allows the newspaper to avoid a shutdown, according to Bloomberg News.
• After years of criticism, Exxon Mobil Corp. has agreed to offer benefits to same-sex couples who are legally married in the United States. The company said that benefits are now offered because of the Supreme Court’s decision to strike down the Defense of Marriage Act, according to the Wall Street Journal.
(09/24/13 5:03pm)
A panel of four entrepreneurial alumni of the College joined William Keep, dean of the Business School on Friday, Sept. 13 to kick off the third annual Mayo Business Plan Competition. The event doubled as one of the Business School’s “Third Wednesdays,” meetings, which look to provide students with networking opportunities and exposure to various industries.
“You came tonight because you thought it was in your own best interest,” Keep said, gesturing to the crowd of students. “But here, you also form a community of people and you all have a shared interest.”
This year, the total sum of prize money being awarded is $30,000. The first place winner receives $16,000, second place $9,000 and third place $4,500, according to Keep.
The panel on Wednesday night provided students with their stories of entrepreneurship and answer any questions about starting a business from just an idea:
Shelly Hewson:
Shelly Hewson graduated Trenton State College in 1980.
After graduation, she began her own landscaping business.
Hewson advanced her education through joining professional organizations and earning various certifications for her business.
She also joined organizations for other women business-owners.
“I like being the boss,” she said. “I like steering my own ship.” Hewson told students to look at what they like to do when deciding what area of business to go into.
Joe Gesualdo:
Joe Gesualdo was a member of the class of 2011. At the College, Gesualdo was a finance major.
“I knew I was good at math and I wanted to make a lot of money,” Gesualdo said. Gesualdo was offered a full-time job at Price Waterhouse before his senior year. After three weeks working in a finance and corporate environment, the recent graduate realized it was not the line of work for him.
“You don’t know what you want to do,” he said. “But you find out what you don’t want to do.”
Gesualdo decided he wanted to be in the technology industry. He and a friend set up a workstation in their apartment and began to teach themselves programming.
“I wanted to be a part of a small company or start my own,” Gesualdo said. “There are a lot of really interesting things that are going to change the world.”
Soon they began the company Homespree. Homespree puts homeowners in touch with contractors to do home improvement jobs.
Finding an industry you are really interested in is what’s important, Gesualdo explained. Then, he said, students should implement technology.
Gregg Hollmann:
Gregg Hollmann graduated the College in 1993 with a degree in finance. He wanted to have a fast-paced job, something where he had to hustle.
In his late 20s, Hollmann bought his first DJ mixer and began DJ-ing at friends’ parties. He then moved on to doing events on the weekends and eventually full time. His business, Ambient DJ Services, was exploding, he explained and he was soon making the same money he had been in the corporate world.
“Dip your toe in and test a concept,” Hollmann said. “If you do it well, down the road you can do it full time.”
Chris Hindley:
Chris Hindley graduated from the College in 2004. After a short time working in marketing, he decided he wanted to be on the other side of the table and start his own business.
“I liked taking a business that hadn’t happened yet and helping it grow,” he said. Hindley explained that he wanted to be in e-commerce because of the tremendous number of available consumers.
Inspired by his struggle to sleep with triplets in the house, Hindley invented the Hoodiepillow. The company took off within weeks and went on to be on the business investing show Shark Tank.
“Just jump off that cliff,” he said. “We get our hands dirty, and we run our own business.”
After the panel had concluded, Dean Keep briefly elaborated on the valuable lessons that students can learn when applying classroom lessons to real world scenarios.
“We can’t teach you everything that you need to know,” he said. “We can teach you things of value, but I don’t know what you need to know yet, because I don’t know where you are going.”
(09/24/13 4:59pm)
• The combination of disappointing numbers from economic indicators and the inevitable turmoil in Washington, the Fed decided to continue its bond-buying program as is. The decision was met with a rally in the market, according to the Wall Street Journal.
• Starbucks Corp. has requested that costumers no longer bring firearms into their cafés unless they are authorized law enforcement officers. The company carefully worded the statement so that it is not a ban, but simply a request to responsible gun owners, according to the Wall Street Journal.
• JC Penney is looking into cash-raising options. The struggling company recently met with banks over the past months looking for advice and suggestions, according to CNBC.
• Google is considering throwing out “cookies.” In a move that would completely shake up online marketing, the “tech giant” is beginning plans for a new tracking system that would attach individual identifiers to each user, according to the Wall Street Journal.
• Mexico, a country that had previously been weighed down with a struggling economy, has now become a destination for immigrants. For the first time in history, more Americans immigrated to the growing nation last year than Mexicans who immigrated north to America, according to the New York Times.
• U.S. car sales set a new record in fuel efficiency this year. The overall gas mileage for all cars that were produced and trucks sold in the U.S. was 24.9 MPG. The record was hit even with a surge in the sales of SUVs, according to CNBC.
• General Motors has plans for an electric car that would travel close to 200 miles on one battery charge. The new technology, if it were to be set for production, would likely cost $30,000, but after the slow response to the first wave of electric cars, the company doubts it will sell the new design, according to CNBC.
(09/17/13 3:39pm)
• Alcoa, Bank of America and Hewlett-Packard are being removed from the Dow Jones Industrial Average after a combination of suffering stock performance and declining popularity with investors. The companies will be replaced by Goldman Sachs, Nike and Visa, according to The New York Times.
• In the coming holiday seasons, shoppers may see a steep increase in the price of chocolate. The increase is due to the rising price of cocoa butter, the ingredient that gives chocolate a smooth texture, according to CNBC.
• Brazilian energy corporation, Petrobras, is selling oil blocks and pipelines in Columbia to Perenco UK Ltd. for $380 million. Petrobras plans to use the cash to further develop its pre-salt oil reserves below the Brazilian seabed, according to Bloomberg News.
• Businesses, as well as a newly built boardwalk in Seaside Heights, were destroyed in a fire that burned out of control for several hours on Thursday, Sept. 12. The shore area had just begun to rebuild after severe damages by Superstorm Sandy, according to the Wall Street Journal.
• After a slow summer and a disappointing back-to-school season, retail stores are already beginning to roll out their Christmas plans and promotions. Shoppers can expect to see Christmas ads even before Thanksgiving and layaway programs are already beginning, according to CNBC.
• Both retail sales numbers and consumer confidence came in lower than expected for the month of August. The discouraging numbers are likely to be discussed among the Federal Reserve staff this coming week, according to Bloomberg News.
• Late last week, Twitter filed paperwork to apply for its long-anticipated initial public offering (IPO). The 7-year-old company is being cautious and extremely private about its IPO in an effort to avoid the mistakes made by Facebook, according to the Wall Street Journal.
(09/17/13 3:27pm)
Results from the One-Year Out graduate survey revealed that 97 percent of the College’s graduates have either a full-time job or are enrolled in graduate school within the first six months after graduation. 80 percent of those who responded said that they had used the College’s Career Center, according to Debra Klokis, employer relations specialist and liaison to the School of Business for the Career Center.
The Career Center kicked off a series of information sessions to guide students planning to use Lion’s Link, the College’s job and internship search site on Thursday, Sept. 5. The auditorium was filled with students from a variety of majors, ranging from Chinese to accounting.
“We are here to help you get started with efforts beyond graduation,” Klokis said. “We’re partners with you.”
Lion’s Link’s goal is to connect students with employers searching for employees with a particular major and skill set.
Aleksandr Nozhnitskiy, senior economics major, used Lion’s Link to obtain his internship at Bloomberg this past summer.
Bloomberg is one of the many companies that recruits heavily from the College through Lion’s Link. Other companies are Johnson & Johnson, PNC Bank and Bank of America.
Bloomberg had two rounds of interviews to select students for the 10-week internship program. All interviews are set up for students through Lion’s Link. Nozhnitskiy was one of 25 students selected from around the country.
“I feel very fortunate that I got it,” he said. “They did a lot of development workshops for the interns. It wasn’t just monkey work.”
Nozhnitskiy’s primary position was a data analyst in the capital structure department.
“We each had our own managers, each intern,” Nozhnitskiy said. “We weren’t just in a giant pool. It was pretty individualized. I was the only intern in capital structure.”
The position, according to Nozhnitskiy, paid well. The Career Center encourages finding an internship that is paid, so students receive compensation for their time. If pay is not given, students should be sure to receive academic credit, Klokis said.
In addition to working in their set departments, interns at Bloomberg are given training to develop skills such as leadership, communication and time management.
Bloomberg also exposed interns to the importance of philanthropy in a corporate environment. The company partnered with Trenton’s Habitat for Humanity to host a carnival day for children in Trenton. All the interns attended to lend a hand.
During the information session, Klokis stressed the importance of having either a part-time job or an internship in one’s field of interest before graduating.
“Internships should be an experience that helps you get to the next level,” Klokis said.
For Aleksandr Nozhnitskiy, Bloomberg did just that. After his internship, Nozhnitskiy and several other interns were offered full-time positions at the company.
“I would definitely recommend Lion’s Link,” said Nozhnitskiy. “TCNJ students should peruse as many (job search) channels as possible.”
The Career Center encourages networking, in addition to Lion’s Link. It is recommended that students use events on campus, as well as family and friends, to have conversations about potential job opportunities.
“Use your network,” Klokis advised.
(09/10/13 4:32pm)
Even though I was only in Princeton, the Salt Creek Grille has a metropolitan atmosphere. The outside has small wicker coves next to burning, two-sided fireplaces. Inside, the bar is the centerpiece of the room with floor-to-ceiling shelves. Decorative bottles gleam from the soft, golden lighting. My dining companions and I were seated on the lower level of the rustic-chic space. The noise level in the room was a bit high, but fine for a group intending to catch up on the past summer.
We started the evening off with the ahi tuna stack appetizer for $19. The dish was decoratively surrounded by four sets of chopsticks. The beautiful piece of food-art had alternating layers of fresh, sashimi-style tuna and avocado. The fish was exceptional. The combination of tuna and avocado provided smooth and refreshing textures.
The next course was the bread. We had to wait a little longer than normal for our bread to arrive because it was still in the oven. After a genuine apology from our waiter, it arrived and we discovered it was well worth our wait. The Salt Creek Grille’s unique bread was a round loaf cut into wedges. Baked in the center was asiago cheese and garlic butter. The cheese was warm and easy to spread on each wedge of moist bread.
For my meal, I had the pear and warm goat cheese salad. For $14 it was a good value. The salad’s size was tremendous (I couldn’t even finish it) and it was spectacularly presented. On top of the baby greens were tomatoes, candied walnuts, pears and four warm, flakey phyllo-wrapped goat cheese triangles. I wasn’t sure what the proper technique was for tackling phyllo-wrapped anything, but I chose to break up the pieces and eat them with my greens. The warm savory cheese, cool greens and tangy sherry vinaigrette were an unexpected yet well-wedded combination.
On a very full stomach, I ended my meal with a hot cappuccino. It was delicious. Compared to the coffee at Eick, the white mug was filled with bliss.
Salt Creek Grille is the place to go for a special occasion. Although the entrée prices are a bit above broke-college kid, the burgers, salads and sandwiches are just right.
(09/10/13 5:00am)
• The United States has seen a recent spike in the popularity of the Southern favorite — fried chicken. The variations of the once simple dish are making their way north, even to upscale restaurants in Manhattan and Boston, according to the Wall Street Journal.
• The American mink fur business used to be small, but it has now gone global with the rising popularity of fur among Chinese women. Sapphire and black pelts are considered especially fashionable this season, according to Bloomberg.
• After a long courtroom battle with retailer Macy’s over rights to Martha Stewart products, J.C. Penny has decided it no longer wants to carry the designer’s home goods. CEO Mike Ullman says Stewart’s designs aren’t selling well, according to CNBC.
• JPMorgan Chase & Co., the largest bank in the United States, announced to colleges last week that it will stop new college loans this coming October. The change is further evidence of the growing concern over the student debt bubble, according to CNBC.
• The FDA is looking to put out new regulations on electronic cigarettes within the next month. The decision came after a government study saw a sharp increase in e-cigarettes among adolescents, according to the Wall Street Journal.
• Tokyo, Japan was selected as the site for the 2020 Summer Olympic games. The hope is that the selection will help Japan to pull out of struggles from both a slow economy and recent natural disasters, according to the New York Times.
• Apple Inc. is, in a long anticipated deal, planning to send both the new high-end iPhone as well as the less expensive iPhone to China. China Mobile Ltd. is the largest mobile network carrier in the world, according to the Wall Street Journal.
• Carl Ichan announced on Monday that he will not make any further attempts to block the buyout and privatization of Dell Inc. The activist investor, owning 9 percent of the company, had claimed that the deal offered by Michael Dell and private equity firm Silver Lake was too cheap, according to the Wall Street Journal.
(09/03/13 5:00am)
Expensive cars, a dream home and a life of luxury: that’s what is promised to distributors in many multilevel marketing (MLM) companies. What distributors aren’t told, though, is that they will more than likely fail, according to William Keep, dean of the College’s School of Business.
“Here, you’re not guaranteed anything,” said sophomore management and psychology double major James Tomasullo. “So it’s a risk.” His risk was becoming a distributor for the MLM company, Vemma, the same company Keep warned students about becoming involved with this past summer. For Vemma, the energy drink and health supplement company, a lot of incentives are placed around recruitment.
In addition to the likely loss of money, those involved in MLM companies take the chance of the institution turning out to be an illegal pyramid scheme.
The legitimacy of MLM companies has been a frequent topic of discussion not only on the College’s campus, but also on Wall Street. The added attention began when activist investor William Ackman shorted the public MLM company, Herbalife. Ackman declared that he felt the company was a pyramid scheme and cited an article written by the School of Business’s dean.
Keep is considered an expert on the topic of MLM companies and pyramid schemes and has spoken to numerous hedge funds on both sides of the Herbalife debate over the past year.
“I have been looking at direct selling and MLMs for almost 20 years,” Keep said.
Companies that have an MLM structure require distributors (sales individuals) to purchase products in advance and then sell them to consumers themselves. Along the way, they recruit additional distributors. A company becomes a pyramid scheme, according to Keep, when more profits are raised from recruiting new distributors than there are from selling to consumers.
“You peak (potential distributors’) interest,” Tomasullo said. “Then you pass them off to someone else doing better than you. That’s their Upline. Then the Upline will tell them about the opportunity.” An upline is a distributor that has had more success and experience than a newly recruited distributor.
The number of people who identify themselves as independent salesmen or distributors tripled from 1992 to 2011, according to Keep. Despite the increase in individuals involved in MLM companies, the percentage of total retail sales in the United States attributed to direct selling has steadily decreased due to MLM companies not assigning territories to distributors. Rather, all distributors must compete against each other.
“It’s not like an application where you fill out a résumé and then go to an employer and ask them to hire you,” Tomasullo said. “You sign up on their website and you buy a certain amount of product based on how involved you wanted to be in the company.”
MLM companies, such as Vemma, look at college students as strong possible candidates for becoming distributors. College is both an anxious and freeing time for young people, explained Keep, and MLM companies present themselves as a way to make an impact with a tangible outcome.
“They play upon aspirations,” Keep said. “The desire to wow people.”
After six months at Vemma, Tomasullo began to question the company and decided to quit.
“The reason I left Vemma was because I felt the CEO wasn’t transparent enough,” he said. “I had concerns that not enough profit was coming from product sales.”
The biggest concern with MLM companies is that they will turn out to be illegal pyramid schemes. Students questioning the legitimacy of an MLM should look to see that the company does not place a greater emphasis on recruitment than sales. Illegitimate companies will not have competitive prices for their products. Additionally, they will use the same examples of success stories and fabulous lifestyles, Keep warned.
“Look, I lost $1,000 total,” Tomasullo said. “But I was actually really happy with the whole thing.” Working for Vemma, Tomasullo explained, provided him with courage, a lot of new skills and a passion for sales.
These skills, though, can still be found and honed without the risk associated with becoming involved in an MLM company. Keep recommends that students interested in sales pick up a professional selling minor or consider a part-time job in sales where the company pays commission and is selling a well-known product.
“Always get paid for what you do sell,” Keep said.
(08/27/13 5:23am)
Welcome Week is not the most memorable week of your freshman year. Yes, it’s a lot of fun. Yes, there are no classes being held. And yes, there are more free T-shirts than you can imagine, but just hang on. The days that will make you fall in love with the College are not planned and certainly aren’t organized.
I came into the College with a relatively poor attitude. To be honest, it wasn’t my first-choice school (or second) and so I had decided it couldn’t possibly be right for me. But then things started to change.
So if you are sitting in your dorm, hesitant about this first year you are about to dive into, don’t fret. Soon you will be sitting around on a Saturday afternoon and someone will be yelling down the hall, “Volleyball, everyone it’s volleyball time.” You will step out into the hall and two rag-tag volleyball teams will be forming themselves and laughing at that one kid who tucks in his tank top like Urkel. After a not-so-competitive game, you will all file into Eickhoff with cold, sandy toes and grab one of the big tables under the skylights.
Floor bonding is homey. It makes you feel safe in a brand new place. When the College really begins to shine though, the memories that you laugh about in July, are those you create in student organizations. Personally, I found some of my very best friends tucked away in a small office down in the basement of the Student Center. They are the staff of The Signal. There was something about the big old couch, the political conversation and the constant stream of witty jokes that made me feel right at home. But that’s just me.
A very good friend of mine told me that I wouldn’t find students like those at the College anywhere else. He’s right. The College is a fantastic place to go to school because of the type of individuals that walk around on our cobblestone paths. They are funny, down-to-earth and quirky. Most importantly, they’re what will make you want to stick around.
(04/30/13 4:51pm)
By Courtney Wirths
News Assistant
The sales and marketing fraternity, Pi Sigma Epsilon, travelled to San Diego, Calif, earlier this April to compete in a series of business and chapter related competitions.
Students from the College’s Zeta Zeta chapter brought home the award for the best chapter in the competition’s Amethyst division.
PSE is a business fraternity on campus. The organization is open to students of all majors that are looking for networking opportunities and have an interest in business.
“To me, anybody can use skills that you use in business,” said sophomore marketing major and member of PSE Rachael Scott. “If you want to get a job, networking is very important. You need to be able to talk to somebody.”
The College has had a chapter of PSE for five years, and there are currently 35 members.
At the San Diego national competition, the chapter’s executive board presented their successes over the past two semesters, including their community service projects. What really set the College’s chapter apart was their volunteer work for the victims of Superstorm Sandy.
“Right after Sandy hit, we immediately contacted someone so we could help out at the shores,” Scott said. “That was very special for us as a chapter because New Jersey was hit very hard both emotionally and physically.”
In addition to the chapter competition, students had the option to compete in individual events.
Scott participated in a marketing case study as well as a sales competition.
For the marketing case study, Scott’s team was given a day to develop a marketing campaign for Pepsi Max and present the campaign to judges the next morning.
They unfortunately did not move on to the second level of this competition.
“Participating in that was a really good experience because now we know what to expect and we realized that the financials are something that they really look for. They look for the long-term and short-term goals,” Scott said.
The sales competition, the Pro-Am-Sellathon, simulated the experience of a sales person making a pitch to a company or buyer.
Students are given a company to represent, a product to sell, and then must pitch the product to the buyers and the judges.
Scott said that she felt more prepared than many other chapters competing because of the hours of practice she had with professor and faculty advisor to PSE, Al Pelham.
“I had never considered a career in sales, and after this competition I am reconsidering,” Scott said.
Above all, Scott values the people she met while at the competition and the relationships she formed with students from all over the country.
Scott described the students that participate in PSE as being hungry for success.
“It is always good to put yourself in a room with people who are just as motivated as you are,” she said.