bryan

Gator Intern Trio Trevor Day ’20, Brendon Urso ’20 and Taylor Renk ’20 @Hefren-Tillotson

Hefren-Tillotson 2019 Summer InternsThis summer three Economics students are working for Hefren-Tillotson in their summer internship program.  Trevor Day ’20, Brendon Urso ’20 and Taylor Renk ’20 are among the student group attending a presentation by the Investment Advisory Team where they learned about the different ways the company looks at investment opportunities.

According to CBE Fellow Trevor Day, “Hefren-Tillotson is a great place to intern for a summer because they encourage you to find projects that interest you. Hefren-Tillotson always encourages you to find a learning opportunity.”

Hefren-Tillotson is home to many Allegheny College alumni, and actively supports Allegheny students and programs.  Today, with over $12 billion in client assets, Hefren-Tillotson is one of the oldest and largest full-service wealth management firms headquartered in Western Pennsylvania. They were recently named among the “Best Places to Work in Pennsylvania” by the Pittsburgh Business Times.

Our special thanks to Kim Tillotson Fleming, Chairman and CEO of Hefren-Tillotson, 2017 Executive in Residence, and Don Belt ’93 Hefren-Tillotson President, for their continued service and support of Allegheny students.

 

New for 2019! The Financial Literacy Challenge Inaugural Event

Allegheny College Financial Literacy CompetitionThe Financial Literacy Challenge Inaugural Event will be held on Saturday, November 23

The Financial Literacy Challenge, hosted by the Bruce R. Thompson Center for Business & Economics, will be an intercollegiate competition in which students develop and present a personal financial budget and investing plan appropriate for a recent college graduate. There will be $5,000 in prizes and trophies awarded to student winners.

How it works

The competition will be open to all Allegheny students, however participation in the challenge will be a mandatory assignment for students taking ECON 010 – Financial Literacy.  Each student or student team will give a 15 minute presentation which will contain:

  • A personal budget that addresses a likely salary that will include tax withholding and monthly and annual living expenses for a recent college graduate,
  • The impact of the rate of inflation,
  • An investment strategy that shows an understanding of the return characteristics of different asset classes,
  • An asset allocation that fits the student’s age as well as investment objectives,
  • A rationale of why the students chose their specific investments,
  • A growth profile that shows expected asset growth in 5, 10, 15 & 20 years.

A panel of six judges consisting of Allegheny alumni and local investment professionals experienced in wealth management will be assembled to serve as judges.

Students can look forward to more information when they return in the fall, alumni and friends of the college can feel free to email cbe@allegheny.edu.

#gatorsintheworkforce: Emma Black ’20

Emma Black '20
Emma Black ’20

Emma Black ’20 is on the job in Pittsburgh with UPMC in their Finance Summer Associates program.  Emma is an Economics major and German minor, a CBE Fellow, chief executive officer of the Mu chapter of Kappa Alpha Theta and an Alden Scholar. 

The Summer Associate position is a fantastic opportunity for Allegheny students to live and work in Pittsburgh – We think the view from Emma’s office is amazing! 

The UPMC Summer Associates program is designed for junior and senior undergraduate students offering a variety of programs in divisions such as Corporate, Insurance, Health Services, and UPMC Enterprises.

Emma’s view of Pittsburgh from her office window

The UPMC Summer Associates Program is a unique opportunity for students to gain practical experience in their respective fields of interest and provides exposure to real-world business opportunities. The program emphasizes professional development, networking, and community service.

Allegheny College welcomes UPMC to campus annually where students learn first-hand about internship and job opportunities.  Support for safe housing for students living away from home is offered through the Allegheny Gateway Career Services and the Economics Department.

#gatorsintheworkforce, #womenineconomics #summerinternship

#gatorsintheworkforce: Liam Wilby ’20

ECON major Liam Wilby ’20 (standing, 3rd from the right, blue tie) celebrates with the Right to Play UK staff in London, England at their successful fundraising event, “Right to Play Annual Sports Quiz” where the team earned over £250,000 for the charity. Liam is a summer intern with Right to Play UK, a charity that seeks to protect, educate and empower children to rise above adversity using the power of play.

#gatorsintheworkforce

Dr. Gaia Rancati Joins Allegheny’s Center for Business & Economics

Dr. Gaia Rancati

This year the Allegheny College Center for Business & Economics welcomes Dr. Gaia Rancati to Quigley Hall where she will teach Principles of Marketing and Business & Managerial Economics during the fall semester.

Dr. Rancati is an experienced trainer and coach in both sales and customer experience specializing in retail, sales, team building, and management.  She earned her Ph.D. in Marketing and Neuroeconomics as well as a Bachelor in Marketing from IULM University, and a Master of Leadership and Management from Il Sole 24ORE Business School in Milan, Italy.

Dr. Rancati is a sought-after researcher and speaker in the field of neuromarketing where she applies the science of neuroeconomics for improving customer experience in the retail field with a focus on service encounters, sales transformation and artificial intelligence.

As an integral part of Allegheny’s Business and Business Economics programs, advanced marketing courses will be offered during the second semester.

 

The Allegheny Wealth Management Club Seeks Students Who Want to Master Personal Finance

 

Under the guidance of Professor Michael Michaelides, students Rafael Balanquet ’20, Club President, and Trevor Day ’20, Vice President, have organized the department’s first wealth Management Club designed to give students a collaborative environment in which they can openly discuss and learn about topics relating to personal finance. The club will invite guest speakers, use simulations, and perform individual research in order to educate members about personal finance topics and how get a head start on managing their own money.

According to Balanquet, “While the club still is in an infant stage, we would like to insure that it continues to bring in students who are interested in learning about these topics in a rather relaxed environment. For this reason, we would like to have past executives and members alike to invest time into helping later generations of students through both alumni relationships with future employers, along with assistance in the actual club atmosphere itself. This will help develop topics and standards the club should abide by in order to get our aspiring financially conscious students a path in the right direction.”

There are no requirements for students to join the club other than a genuine interest in personal finance.  The students have created an ambitious agenda to attack during the school year.  Here is a small sample:

  • Each student will “adopt a company” in other words, pick a company, in whichever industry they like, and consistently provide up-to-date analysis of their company, such as news, public offerings, stock price changes, different business deals, etc. This will also include the key information on their most recent earnings call for the respective fiscal quarter.
  • “Index Watch” – Students in teams of two look at a certain index and report on the change in trading price and basis points each week.
  • Students can participate in a Mock Stock Market Game on the club website.
  • Students will learn how to perform a technical analysis to determine buy/sell states in securities
  • The group will conduct discussions of recent news stories relating to the economy.
  • The club members will reach out to alumni and external speakers to understand some of the more specific occupations in finance, such as CFP and CFA, and the process of them getting their designation (or pursuing) and their day to day activities and advice for the job market.

More information will be available at the beginning of fall semester, however students and alumni that would like to participate can email bryan@allegheny.edu for more information.

Economics Students Present Award Winning Senior Projects

2019 Allegheny College Economics students in the Federal Bank of Cleveland Undergraduate Research Poster Competition
2019 Participants in the Federal Bank of Cleveland Undergraduate Research Poster Competition – from left: Jonathan “Jack” Goodman, Professor Russ Ormiston, Griffin Sullivan, David Perez

Seniors Jack Goodman, Griffin Sullivan and David Perez presented their senior comps during an undergraduate research poster competition at the Federal Reserve Bank of Cleveland on May 3, 2019. 

All three students represented Allegheny College and themselves extremely well with work that matched up favorably with the very best posters at the event.  Jack Goodman won second place in the economics division with his senior project entitled, “An Analysis on the Effect of Trade Liberalization on Income Inequality.”

Griffin Sullivan, selected as a Keynote in the Allegheny College 2019 Scholars Symposium presented “The Effect of a Female CEO on Firm Profitability of Fortune 500 Companies,” and David Perez presented “The Effects of Foreclosure on Home Values for Real Estate Throughout the United States of America.”

According to Professor Ormiston, “Our students and those from Case Western and Washington & Jefferson were generally among the best in show in the economics division. Very good company to keep. ”

The following is the complete Economics Senior Projects Honors list for the 2018/2019 school year:

  • Colten Buzard, “Network-Based Operating Structures: Capturing Competitive Advantage through Business Model Innovation.”
  • Maria DiDonato,   “Factors Influencing Access to HIV Medication in Sub-Saharan Africa.”
  • Jonathan Goodman, “An Analysis on the Effect of Trade Liberalization on Income Inequality.”
  • Johnathan Miller, “Innovation in the Indian Pharmaceutical Market Post-2005.”
  • Patrick Palad, “ Impact of Minimum Wage Policy on Employment: An Agent Based Approach”
  • Nicholas Rumzie, “Cost Benefit Analysis of Zebra and Quagga Mussels in The Lower Colorado Region.”
  • Erblin Shehu, “Unit-Based Pricing Waste System to Increase Recycling and Reduce Waste.”
  • Jonathan Sion, “Competitive Balance in the Top European Soccer Leagues with an Emphasis on the English Premier League.”
  • Griffin Sullivan, “The Effect of a Female CEO on Firm Profitability of Fortune 500 Companies.”
  • Meghan Uht, “Do adverse childhood experiences affect risky decision-making in young adults?

Board of Visitors Mini Conference & 18th Executive Roundtable

The Allegheny Community and students of all interests are invited to attend two special events hosted by the Center for Business and Economics:

Board of Visitors Mini – Conference
April 8, 2019 | 9:00 am – noon
Quigley, 2nd floor, various classrooms

The Board of Visitors is an advisory body for the Center for Business and Economics.  The Board of Visitors advisory group is a powerful asset for students and faculty alike.  This year’s event includes the following sessions, followed by refreshments and networking opportunities with our visiting executives.

All three sessions run concurrently with session #1 from 9:00 – 9:50 am, and session #2 from 10:00 am – 10:50 am. Beginning at 11:00 am, there will be refreshments & networking with the visiting Board of Visitors members until noon.

  • Managing a Diverse and Inclusive Workplace, Room 215
  • Graduate School — When, Where and How, Room 217
  • Leveraging your Comp & Extracurricular Activities to get your First Job, Room 220

The 2019 visiting Board Members in attendance for both conference topics and networking include:

  • Jennifer Daurora ’99, Trustee, former Chief of Operations, McGinnis Sisters Specialty Foods
  • Mark Hanson ’83, Senior Vice President, Freddie Mac Securitization Division
  • Terry Hartford ’81, Trustee, Vice President, ATI Defense
  • Sean Mathis ’65, Founding Partner, New Centuropm Capital Partners
  • Devone McLeod ’13, Certified Financial Planner (CFP), Reby Advisors
  • Samuel Moss, Doctor of Letters, Allegheny College, Senior Director of Finance, CF Foundation
  • Evelyn Pendleton ’87, Vice President, PA Market Chief Financial Officer & Coach of the Mid-Atlantic Territory for Aetna, a CVS Company
  • Roger Tufts ’76, Director, Policy Analysis Division, Office of the Comptroller of the Currency, U. S. Treasury
  • Don Belt ’93, President, Hefren-Tillotson
  • Jim Spaulding ’80, Sr. Vice President and General Counsel (retired), Vanguard Health Systems, Inc.
  • Kyle O’Connor ’03, Sr. Vice President of Corporate Development at TriState Capital

Business Culture and the #MeToo Movement
April 8, 2019 | 4:00 pm – 5:30 pm
Ford Memorial Chapel, Allegheny College, Meadville, PA

The Center for Business and Economics proudly presents the 18th Executive Roundtable on a critical topic of national interest.  Our goal is to provide our local community with a thoughtful, balanced inquiry into the important questions of our time.

What started as a simple phrase of support for survivors of sexual assault in 2006 has evolved into the viral #MeToo movement that has shone a spotlight on the culture of sexual harassment in some American workplaces. Sexist comments, unwanted sexual advances, and demands for sexual favors have contributed to a culture in which both women and men report lost work opportunities, reductions in income, demotions, and other forms of career impairment. In this roundtable, a group of experts will discuss the #MeToo movement and its impacts on the future of business, jobs, and careers.

This year’s panel of business leaders include:

Jennifer Daurora ’99 (Moderator) is an experienced executive leader, community builder and entrepreneur. As the former Chief of Operations of McGinnis Sisters Special Foods Stores, Ms. Daurora has deep experience in executive leadership, entrepreneurship, strategic planning, open book management, nonprofit management and governance, relationship management, data analysis, employee and community engagement. Ms. Daurora earned her BA in Economics at Allegheny College.

Sarah (Webster) Quinn, Attorney, Steptoe-Johnson focuses her practice in the area of energy (coal, oil and gas) and transactions throughout the Appalachian Basin. Mrs. Quinn also counsels higher education clients regarding workplace harassment, mental health issues, overtime regulations, transgender issues and Title IX. In addition, she helps institutions of higher education develop solutions for novel challenges both on and off campus. Ms. Quinn earned her BA in International Politics and Political Science at Westminster College and her JD at Ohio Northern University.

Mark Hanson ’83 is the Senior Vice President of Freddie Mac’s Securitization Division. In this role, he oversees Freddie Mac’s mortgage securitization efforts, including pass-thru, REMIC and strip issuance. He currently serves as the Executive Sponsor of Freddie Mac’s Women’s Network. Mr. Hanson earned his BS in Economics at Allegheny College and his MBA from the University of Rochester.

Karen Ubelhart ’77 is a senior analyst at Bloomberg. Ms. Ubelhart has covered the industrial sector for more than 30 years. Her time in the industry includes roles as the Managing Director at Lehman Brothers, a sector portfolio manager and analyst at Government of Singapore Investment Corporation, and an analyst at Oppenheimer. During her tenure Ms. Ubelhart has been ranked by both Institutional Investor and Greenwich Associates polls and has been a winner of Wall Street Journal’s Stock Picking Award. Ms. Ubelhart earned her BS in Economics at Allegheny College and is a Chartered Financial Analyst.

Learn more at https://sites.allegheny.edu/econ/center-for-business-and-economics/the-executive-roundtable/

The Board of Visitors and Executive Roundtable programs are supported by the Earl W. Adams, Jr. Endowment, established by Allegheny College Trustee William H. Brown, Jr., Allegheny Class of 1980, in honor of Professor Emeritus Earl William Adams, Jr.  – teacher, mentor and friend.

#OneYearOut with Kyle O’Connell ’18

This interview is one of a series of interviews conducted by the Center for Business and Economics Fellows with recent Business & Economics graduates about life after graduation.

This interview was conducted during the Fall 2018 semester by CBE Fellow, Troy Elphinstone ’19 with recent graduate, Kyle O’Connell  ’18.

Troy: Where are you’re currently employed— How did you hear about this position?

Kyle O'Connell
Kyle O’Connell ’18

Kyle: Currently, I am employed at Highmark Health where I am part of the Leadership Acceleration Program. I heard about the position after speaking with Highmark at the West Pacs career fair.

Troy:  What do you do on a day to day basis?

Kyle: For the Leadership Acceleration Program, I rotate through four different areas of the company every six months, so my day to day will change. In my current rotation, I work on the Highmark Health Innovation Team where I’m tasked with both creating and implementing innovative ideas. These ideas typically address an existing problem within our organization/health care or attempt to revolutionize the industry in the future.

I’m currently leading a few major projects as well as a couple minor ones, so my days tend to vary. As an example, one day I might spend 4 hours out at one of our hospitals meeting with patients and clinicians followed by a 2 hour meeting to consolidate the information we found. On a different day, I might present the results or findings of a project to one of our senior leaders in the morning, meet with my team and other leaders around lunch, and then finish the afternoon with more heads down/individual work.
To summarize it briefly…No two days are the same.

Troy:  How did Allegheny help prepare you for your current job?

Kyle: In my experience, people tend to question the value of an Economics/liberal arts degree due to its lack of specificity. While I’m yet to draw a MC curve (or any curve at that), Allegheny taught me more advanced skills that have allowed me to adapt in unfamiliar territory. I would say the “big two” I learned are critical thinking and business mindedness. I’m able to tackle projects and think through business processes that address some of the greatest challenges in healthcare—a skill people with more concentrated backgrounds seem to lack. There’s that saying out there about giving a man a fish versus teaching a man to fish—Allegheny provides you with the right tools to succeed even with limited experience.

Troy: What advice would you give to current Allegheny students?

Kyle: Find the thing or experience that separates yourself from others and use that as a major selling point. Put things in real terms—tell people what they need to hear and not what they want to hear. Constantly evaluate yourself and your work to determine if value is actually being created. Don’t be afraid to question ‘why’ because the status quo isn’t always the right way to do things.

#OneYearOut with Joe Wesolowski ’18

This interview is one of a series conducted by the Center for Business and Economics Fellows with recent Business & Economics graduates about life after graduation.

Joe Wesolowski '18
Joe Wesolowski ’18

This interview was conducted during the Spring 2019 semester by CBE Fellow, Troy Elphinstone ’19 with recent graduate, Joe Wesolowski ’18.

Troy:   Where are you currently employed? — How did you hear about this position?

Joe: I am currently employed by Crown Castle International. Crown Castle is a management, consulting, real estate, infrastructure, and technology company specifically for firms in the wireless communication and emerging technologies space. I interned for Crown in the summer of 2017 and had the opportunity to come back for a full time position. I found Crown Castle through some mutual connections formed at Allegheny and some general networking prior to the internship.

Troy:  What do you do on a day to day basis?

Joe: I work on the Area Finance team for the Mid-West Area of the company. Each Area Financial Analyst is responsible for a certain line of business within the company (ie. Real Estate, Operations, etc). The goal is to support that line of business within each major city/office hub for the area by preparing beginning and end of quarter/year budgets, projections, forecasts, and any other financial planning for the group. Managers or Team/Project leads will come to the team for advisement on their big data projects or recurring issues/situations that may arise during the work day. We offer up assistance and provide feedback for their various projects/issues.

Troy: How did Allegheny help prepare you for your current job?

Joe: Allegheny does an outstanding job establishing their student’s theoretical foundations, but the greatest tool Allegheny drills into their student’s repertoire is communication and problem solving skills. Post grad Allegheny students will find out quickly that they are very well equipped to be an adaptable employee for any company they go and work for. Allegheny provides the refinement of skills that a lot of other young post grads do not have. Allegheny also provides a vast network of alumni and connections that want to help and see students succeed, so it can give you a leg up in an organization building those connections.

Troy: What advice would you give to current Allegheny students?

Joe: My advice for current Allegheny students is to absorb every opportunity that can help you grow as a person and a young professional. Do not take the small events for granted. If the department puts on a career talk or a skills building event, go to it. Also, do not be afraid to put yourself out there during your job search process. Utilize the department and the career education office, but do not be afraid to send out emails to alumni yourself. Put yourself out there and build your network as much as you can during your four years at Allegheny.