April 2009

Fordham Stock Market Challenge Winners Announced
by Mukund Multani, CBA 2010

The winners of the Fordham Stock Market Challenge were announced this past month. Hayk Minasian took the $250 first prize by a mile with a 43.8% return over the five month competition period, during which the S&P 500 declined by 17.8%. Juniors Matthew Casatelli and Anthony DiPietro placed second and third, with returns of 18.6% and 16.5% respectively.

All three will enjoy a celebratory lunch with Professor Kelly, who graciously organized the competition in the wake of student disappointment over the cancellation of a national stock market competition for university students and professors, the Barron’s Challenge. A total of thirty-three students participated in the competition, during which they met several times to discuss market conditions, portfolio strategies and learned to use the Thomson One Portfolio Management System in Fordham’s Trading Room. In these trying investment conditions, four other students posted positive returns. Congratulations to David Murphy-Colonna (+12.7%), Tom Dobbins (+8.2%), Will Mansour (+6.5%) and Max Siegel (+6.2%).

Last year Fordham students participated and finished 4th, 5th and 12th out of almost 2000 students nationwide in the Barron’s challenge.

 



Second Annual CBA Finance Day
by Sally Reyes, CBA 2010



Every year, the College of Business Administration, Fordham Finance Society and ALPFA Fordham Chapter unite to organize CBA Finance Day, an annual gathering for students, faculty and alumni in the financial services industry to discuss pertinent issues impacting the world economies and capital markets.

On March 4th 2009, the day began with a Speaker Presentation by Fordham alumnus, Robert Valdes-Rodriguez, a former Wall Street senior executive and banker turned luxury Italian neckwear designer. Throughout his presentation, Mr. Valdes-Rodriguez kept the spirit of entrepreneurship alive. He opened with an interactive exercise to help students come up with their own definitions of success, using quotes from notable persons in history as a reference. After students shared their experiences and goals for success, they learned about the 3 P’s of success, mentorship and other do’s and don’ts in the financial services industry. The presentation ended with Mr. Valdes-Rodriguez’ story on how he founded his own company. He left students inspired to pursue their passions throughout their career. In the evening, alumni joined students and faculty for dinner in Tognino Hall to share their experiences with leading financial firms and their knowledge of the financial markets. After dinner, a panel discussion focused on the business cycle, the current economy and possible changes in the way businesses are regulated, financed, and managed. The general advice to students was to be creative, and broaden one’s horizons to find growth opportunities in a career.

For more information on how to become involved in next year’s annual finance forum, please contact ALPFA Fordham Chapter (alpfa.fordham@gmail.com) or Fordham Finance Society (fordhamfinance@gmail.com).

 



CBA Field Trip: Where Innovation Meets Sustainability
by Kyle Mahony, CBA 2012

On March 4, twenty students embarked on a field trip to Sciame Construction’s Cooper Union Engineering Art Building. I’ll be honest, this field trip was far different than anything I’ve ever experienced before; it was amazing. Our day began when the Ram-Van picked us up from Faber Hall. Our destination was the still-under-construction Cooper Union New Academic building. After a 40-minute ride downtown, we were happily greeted by Steve Colletta, a recent Fordham University CBA alumnus who is Vice President of Sciame Construction. Mr. Colletta invited us into the project offices, housed in the Cooper Union Foundation building, where he introduced us to Robert DaRos, Jr, another Fordham alum who is the Project Executive, and gave us an overview of the new construction and the design for the highly anticipated Cooper Union New Academic Building. According to Mr. Colletta, this building is like nothing before it. The building’s main purpose is not only to provide a top-notch educational facility for Cooper Union students, but also to be a model for sustainable development.

Mr. Colletta started the lecture by explaining the goals of Peter Cooper, the founder of Cooper Union. Peter Cooper’s main vision was to provide free education for those who deserve it. Mr. Colletta explained that the new academic building is an important part of allowing this vision to carry on. In order to make the Cooper Union's finances sustainable into the future, the College is consolidating its campus, leasing some of the current campus to continue to fund the full scholarships it offers to all students of the Cooper Union. At the same time, this vision is integrally linked to the design an efficient "green" building that promotes sustainable development.

Many may ask the rhetorical question: “What is sustainable development and why is it important”? Mr. Colletta thoroughly answered this question. He claimed sustainable development is meeting human needs while preserving the needs of the environment for an indefinite future. The new Academic Building, designed by architect Thom Mayne of the architectural firm Morphosis, is a perfect example of this. It incorporates new innovative ideas that include an atrium inside the middle of the building which collects sunlight and harnesses its energy, an outer mesh "skin" which keeps the building cool in summer and warm in winter, a "green roof" with prairie plantings which collects rain water and uses it for its restrooms, efficient radiant heating ) and cooling, and a system of powerful co-generation turbines which create electrical power to offset power use. Together, these features combine to make it eligible for a Platinum LEED certification from the U.S. Green Building Council, a new, higher standard for energy use in a lab building.

Not only does the new building design promote sustainable development but optimal communication. The central atrium, conceived of as a "vertical piazza," bridged by multiple "skyways" creates an atmosphere of openness and inter-departmental sharing. Some of the other innovative features include a "skip-stop" elevator. Basically, having the elevator stop at every other floor allows more interaction between students and faculty, which creates more communication. Communication, too, is seen as a "sustainable" value essential for an efficient business.

I was slightly skeptical when I heard all of these new innovative designs; I wanted to see them for myself. It was rumored that we were to have an exclusive tour of the building. I thought to myself: “how is this possible if it is still under construction?” My question was answered when the Vice President told all of us to put hard hats on. We put on our protective headgear and exited the building to the new unfinished building. In the new building, caution tape was all about and remnants of saw dust were still in the air. I thought to myself, this is finally getting good. Our tour consisted of various floors throughout the building. Each floor contributed something different to this magnificent building. The worst part for me was when the tour was over. Overall, this was one of the best field trips I have ever been on. From my understanding, everyone else enjoyed this trip as much as I did. Thanks Professor Livesey!




Opinion: Obama’s New Deal
by Saisandeep Avuthu, CBA 2012

Last month, President Obama signed into action the American Recovery and Reinvestment Act, also known as the “Stimulus Bill”. The legislation was based heavily on proposals made by the President himself, who calls the plan “the most sweeping economic recovery plan in history.” The primary goals of the $787 billion package are: to (1) preserve and create jobs, particularly in infrastructure (3.5 million, plan estimate) (2) assist those most impacted by the recession, (3) provide investment to spur technological advances in health and science, (4) invest in transportation, environmental protection, and other infrastructure, and (5) to stabilize state and local government budgets so as to minimize counterproductive state and local tax increases. Here’s a quick breakdown of what exactly happened to this package: 37% went to tax relief, 18% to state and local fiscal relief, 14% to infrastructure and science, 10% to protecting the vulnerable, 7% to healthcare, 7% to education and training, 5% to energy, and 1% to other activities.

Furthermore, the plan aims to cut healthcare costs with the help of computerized medical records, and provide renewable energy companies with growth opportunities. Meanwhile, Obama’s first budget is a hefty $3.6 trillion that addresses key economic issues and focuses on national health care, education, and alternative energy. It would be funded by a sharp increase in the taxes of families with an income of over $250,000 and on a wide range of businesses. It also contains a $250 billion reserve for the recovery of the financial industry that could include the establishment of a “bad bank” that would purchase toxic assets from the banking sector. The plan anticipates a federal deficit of $1.75 trillion for the year of 2009, roughly 12% of GDP, a level not seen since World War II!

However, Obama has pledged to cut the deficit in half by the end of his first term. He promised that his administration will "go through our books page by page, line by line" in order to cut wasteful spending and stated that officials have already found almost $2 trillion in savings. “I don’t want to pretend that today marks the end of our economic problems. Nor does it constitute all of what we have to do to turn our economy around. But today does mark the beginning of the end,” he said. Evidently, Obama is making conscientious efforts to get the economy back on track and at the same time provide transparency and to the taxpayers. He seems to be a man of his word, for he is clearly pushing towards the important economic change that America truly needs at the moment.

 

 
Networking Your Way Through Difficult Times
by Michael Winton, CBA 2009

Perhaps some of the most important lessons during my years at Fordham did not come in the classrooms of Dealy Hall or Faculty Memorial Hall. As a finance major, I was curious about the direction of my future career and spoke to a multitude of Fordham alumni. The recent economic crisis made me particularly interested in the situations in which these alumni began their first jobs. One particular alumnus, Tom Cordisco, FC ‘82, was an aspiring journalist who interviewed with Salomon Brothers at a campus recruiting session. At the time, interest rates were at historical highs and economic woes created a challenging job market. After Salomon’s demise, Mr. Cordisco leveraged the relationships he had developed at Salomon to continue his career and went on to trade bonds with Lehman Brothers in Tokyo; today he is a Director in Merrill Lynch’s Private Equity Group.

I also recently met Fordham alum, John Maguire CBA ‘90, whose initial job offer at Drexel Burnham Lambert was terminated even before his first day because the firm filed for bankruptcy that February. In the midst of an economic recession, Mr. Maguire spent his first five months post-graduation actively searching for a job before settling for a position with American International Group (AIG), in a role very different from the one at DBL. However, he eventually steered his career onto Wall Street with his next job at Sanwa BGK Securities, a small primary-dealer of U.S. Treasury securities. He is now a Vice President at Goldman Sachs and a senior salesperson in the firm’s Interest Rate Products Group. Mr. Maguire attributes much of his career progression to the relationships and professional network he built throughout his career.

The similarities in these stories are obvious. Both careers were initially setback by economic woes, but despite these challenges, both men succeeded in their fields. They did so by leveraging relationships to propel their careers through periods of economic stress. The current senior class here at Fordham is graduating at the confluence of an economic crisis and has all the makings to become the ‘Lost Class of 2009’. However if you take any lesson from these Fordham alumni, it should be that there is more than one starting point to a desired end.

I recently accepted a job offer to commence my career in a position that I never expected to begin in with Macquarie Securities, a firm I had never heard of this time last year. However, with the changing employment, my new job may be a fortuitous opportunity for launching my career. While it may not be exactly the career path I take in the future, I think that the relationships I have developed with Fordham alumni across New York City will afford me career flexibility in the future. The advice I hope to pass along to Fordham students is that networking is invaluable since most professionals have been through the same job struggles we are going through today. The world is a meritocracy where the people who succeed are those who exert the most effort and take advantage of opportunities. Take advantage of our extensive alumni network— even if it does not offer a return today, establishing relationships will certainly pay off in the future. Don’t be afraid to accept a job that may not be exactly what you wanted, it is far better than being an unemployment statistic a year down the road!

 
The CBA Finance Scholars Program

The CBA Finance Scholars Program is a 7-week program which offers undergraduates an opportunity to prepare for careers in finance; including investment banking, corporate / public finance, research, sales and trading, and alternative investments. A limited number of students will be selected for this program and it’s geared toward students who will be Juniors this fall. It will include five, two-hour informational sessions by alumni and industry-specific career development; such as resume review and mock interviews, a One-Day Capstone Seminar, and a congratulatory dinner.

Application packages can be obtained from CBA Office, Faber Hall, Room 359. All completed applications are to be delivered to Brian Dunn, Faber Hall, Room 358 by Wednesday, April 29 th , by 5pm. Late applications will not be accepted. *Students with a 3.5 GPA or higher may apply.

 
2009-2010 Scholarship Applications Available

The CBA Scholarships website lists all available internal CBA scholarships as well as a selection of business-related external scholarships. Applications can be downloaded directly from the CBA Scholarships website. The deadline for most internal scholarships is Thursday, April 30th.
 
Tutoring Help Available Through The CBA Study Center (Faber Hall, Room 354)

Is your head spinning from trying to understand what is going on in one of your CBA classes?
Would you like a little help to get a grasp of your class material?

Well, help is readily available through the CBA Study Center (Faber Hall, Room 354). Boyle Society and Beta Alpha Psi tutors are available throughout the week (Monday-Friday) free-of-charge to help you in the following courses:

Accounting: Financial Accounting, Managerial Accounting, Intermediate Accounting I & II, Individual & Business Taxation
Economics: Macroeconomics, Microeconomics
Finance: Financial Management
Math: Finite, Calculus
Statistics: Statistics I, Statistics/Decision Making
CBA Core: Information Systems, Management, Marketing, Operation & Production Management

You can reserve a tutor by stopping by the CBA Study Center (Faber Hall) and signing up on the Tutor Reservation sheet or by emailing Brian Dunn - bdunn@fordham.edu with the day/time and tutor you would like to reserve.

 

 

 

CBA Events - April

Thursday, April 2
Entrepreneur Week Event: Third Annual Networking Dinner
Strategic Job Planning Session III: Senior Peer Networking Forum & Interviewing for Success

Friday, April 3
Entrepreneur Week Event: Meet Sally Hogshead, Branding Expert & Careerist

Saturday, April 4
Beta Alpha Psi & Deloitte Spring Fling Community Service

Monday, April 6
CBA Advisory Board Panel ”Your Future - Thinking Creatively & Adapting to the New Business Environment”

Wednesday, April 8
Mock CPA Testing

Sunday, April 19
Beta Alpha Psi - Park-Clean Up Community Service

Monday, April 20
Beta Alpha Psi: Becker - CFA Information Session

Tuesday, April 21
Career Services’ Career View Program: MTV


Please see CBAAccess.com for event details and to RSVP. Business casual attire required for all events.

Do you have any news for our newsletter?
Send it to: cbanews@fordham.edu.