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Kogod in the Media/February 2010


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Faculty, Programs, & Quotes

Kogod Professor Robin Lumsdaine Quoted in American Banker Article
Professor Lumsdaine was recently interviewed about the recent G7 request that the IMF draft a feasibility report regarding the possibility of instituting a global tax that would require internationally active banking firms to pay an assessment fee to an international entity, which in turn, would assist nations attempting to recover the cost of a failed financial firm.

"From a systemic perspective, I can understand why there's interest in having some kind of cross-border resolution plan," said Robin Lumsdaine, a former Federal Reserve Board official and now a professor at American University's Kogod School of Business. "The largest, systemically important firms have operations across the globe — making it difficult to ring-fence an ailing subsidiary and prevent contagion to other parts of the firm."

Additionally, she noted there would be challenges involved in drafting and implementing such a proposal.  "You can't think about the proposal in isolation," she said. "It has to be reconciled to different tax regimes, different accounting regulations and different legal frameworks" existing in each country, she said. "That's where coordination becomes very complex. It doesn't mean it can't be done. But it can be quite challenging to keep the costs from outweighing the benefits." View full article (2/23/10)

Kogod Center for Career Development Director Quoted in Wall Street Journal
A recent Wall Street Journal article titled "Non-campus Recruiting," outlines the changing trends of businesses employing recent graduates. The article reports a decreasing amount of employers physically making a trip to campuses across the country; rather they are recruiting and interviewing through different mediums such as video conferencing. Arlene Hill, Director of the Kogod Center for Career Development, states that video interviewing is a one way of getting more attention for "smaller programs that lack the critical mass of graduates to attract a plethora of employers." Furthermore, Hill says "virtual interviews provide a way for companies to pull from multiple schools without draining all their recruiting resources." View full article (02/23/10)

Washington Post article features Kogod alum love stories
A recent article in the Washington Post titled "Love sweeps college campuses" showcased Kogod alum love stories that were featured on Kogod's home webpage. View full article (02/15/10)

Washington Post article features Kogod School of Business
A Washington Post article titled "Campus Overload" describes how colleges managed to keep their students well informed and up-to-date with school work during the recent snow storms and school closings. The article features Kogod School of Business graduate students, who used Skype as a method to communicate. The students skyped with "a doctor in Iraq who is planning to build a medical lab..." View full article (02/15/10)

Kogod Professor, Sonya Grier quoted in Ad Week article
Kogod marketing professor, Sonya Grier was recently consulted for her expertise in race and the marketplace and quoted in an Ad Week article titled "How close is post-racial America?" The article discusses the numbers and implications for marketing to African-American consumers and the effects of advertising that displays people of various races and ethnicities. Grier suggests there is a generation aspect to how African-American consumers will react to such advertising: "Youth of all races and ethnicities appear to lead a more 'multicultural' lifestyle," says Grier. "So such ads would not seem as contrived to the black consumers in that generation and mind-set as they might to a black consumer who lives a more 'segregated' lifestyle." View full article (02/04/10)

Kogod Professor Robin Lumsdaine Quoted in American Banker Article
Professor Lumsdaine was recently quoted in an article discussing the effectiveness of Federal Reserve programs, on the eve of their expiration, that were introduced to help banks during the financial crisis.

"On aggregate, there's no question the programs were successful in moving us away from the brink of disaster," said Robin Lumsdaine, a professor at American University's Kogod School of Business and a former Fed official. "In retrospect, one might be tempted to look back and say, 'This one was more popular,' or 'This one had greater effect,' but that is the benefit of hindsight. At the times these programs were introduced, there were enormous and urgent liquidity challenges coming from all directions. It required a multipronged approach."

Additionally, Lumsdaine stated "It's appropriate that these programs are winding down, many of them were initiated under 13-3 and hence were always intended to be temporary [the section of the Federal Reserve Act that was invoked to introduce the programs, citing 'unusual and exigent' circumstances]." View full story (02/01/10).