Research & Ideas
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Leadership Lessons: Oprah's Journey to "OWN" Cableland
January 3, 2011 - Huffington Post
Oprah's decision to end her talk show and start a new venture and expand her reach is discussed.
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HBS Faculty on 2010's Biggest Business Developments
December 27, 2010 - HBS Working Knowledge
Bill George, Bill Sahlman, Rosabeth Moss Kanter
Three Harvard Business School professors offer their thoughts on the most significant business and economic developments of 2010. These include social networking, the Great Recession and new technologies.
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Being the Boss: 3 Imperatives to Great Leadership
December 14, 2010 - BlackEnterprise.com
Linda Hill's latest book is profiled, taking a brief look at her rules for being a successful leader.
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Tax US Companies to Spur Spending
December 10, 2010 - Washington Post
Professor Desai proposes the taxation of corporate "excess cash" reserves in order to encourage investment and spending in the US economy.
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10 Burning Questions About Why Some Entrepreneurs Fail And Others Succeed
December 8, 2010 - Business Insider
Paul Gompers, Anna Kovner, Josh Lerner, and David Scharfstein
The HBS Working Paper, "Performance Persistence in Entrepreneurship" is highlighted.
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Making Right Choices: Art or Science?
December 2, 2010 - HBS Working Knowledge
The rapidly growing number of alternatives in our lives is a challenge for those wishing to make good choices, whether at work or at the store. Jim Heskett looks at the implications of choice overload on business, asking if science can help us make better decisions.
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Q&A: Harvard Study on Taj Employee Heroism
November 26, 2010 - Wall Street Journal
Rohit Deshpande is interviewed on the recent HBS case study profiling the selflessness and leadership in the face of the 26/11 terrorist attack on the Taj Mahal Palace & Hotel.
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Why Do We Chase Stars?
November 1, 2010 - HBS Working Knowledge
Is chasing outsider talent a fool's errand? Jim Heskett discusses the book, "Chasing Stars" by professor Boris Groysberg and asks, is general management performance portable between organizations? If not, is management truly a profession?
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Stress-Test Your Strategy: The 7 Questions to Ask
November, 2010 - Harvard Business Review
An economic downturn can quickly expose the shortcomings of your business strategy. But can you identify its weak points in good times as well? And can you focus on those weak points that really matter? Seven questions all executives should ask in order to ensure the success of their strategies.
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Lose Manufacturing and You Lose Capacity for Innovation
October 28, 2010 - FT.com
Gary P. Pisano, David Upton
Upton and Pisano respond to John Kay's recent article "Why you can have an economy of people who don't sweat", pointing out that in many industries such as biotech there is a need for manufacturers to be located close to R&D experts.
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Is There a Bubble in the Bond Market?
October 27, 2010 - VoxEU.org
John Y. Campbell, Adi Sunderam, Luis M. Viceira
The historically low yields on Treasury bonds are the hallmark of a bubble, according to some commentators. This column analyzes the relationship between bond yields, the stock market, and inflation over the past 50 years. It finds that the riskiness of nominal bonds changes over time and that investors and policymakers can use the changing stock-bond correlation as a real time measure of inflation expectations.
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Venture Capital's Disconnect with Clean Tech
October 18, 2010 - HBS Working Knowledge
Clean-tech start-ups depend on patience and public policy to thrive--the Internet models for VC funding don't apply. That's why Harvard Business School professor Joseph Lassiter is making an unusual recommendation to his entrepreneurship students: Spend a few years serving time in a government job.
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How Government can Discourage Private Sector Reliance on Short-Term Debt
October 13, 2010 - HBS Working Knowledge
Financial institutions have relied increasingly and excessively on short-term financing, putting the overall system at risk. Should government step in? Harvard researchers Robin Greenwood, Samuel Hanson, and Jeremy C. Stein propose a "comparative advantage approach" that allows government to actively influence the corporate sector's borrowing decisions.
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Selling to Many Countries--Within the US
Fall, 2010 - MIT Sloan Management Review
Frank Cespedes, Michael Wong
If you and your customers understand the value represented in your pricing, you can—and should—charge more for delivering more. An interview on "performance pricing" with researchers Frank Cespedes, Benson P. Shapiro, and Elliot Ross.
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Business School Deans on the Future
October 13, 2010 - On Point with Tom Ashbrook
Harvard Business School Dean Nitin Nohria, along with Dean Sally Blount of Kellogg School of Management at Northwestern University and Dean Rich Lyons of Haas School of Management at UC Berkeley discuss the future of business education in light of the economic crisis.
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Why the New Small Business Jobs Bill May Not Create Jobs
October 5, 2010 - The TakeAway
Lerner emphasizes the importance of new businesses--those 10 years and younger--in creating new jobs, as opposed to small businesses.
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Introverts: The Best Leaders for Proactive Employees
October 4, 2010 - HBS Working Knowledge
Think effective leadership requires gregariousness and charisma? Think again. Introverts actually can be better leaders than extraverts, especially when their employees are naturally proactive, according to Harvard Business School professor Francesca Gino.
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What the Wealthy Know
September 29, 2010 - New York Times
President Obama's plan to repeal the tax cuts to the most wealthy provides both fiscal responsibility and stimulus writes Weinzierl.
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Give U.S. Companies Certainty on Taxes
September 22, 2010 - Financial Times
Bob Pozen suggests alternatives to repeal of Bush-era tax cuts.
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How Stop-and-Go Science Funding Puts the Brakes on Progress
September 19, 2010 - Boston.com
The randomization of research funding (as in the case of stem cell research) causes "devastating implications" writes Professor Sahlman.
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Basel Needs a Firm Hand and Fewer Delays
September 14, 2010 - Financial Times
David Scharfstein, Jeremy Stein
The increase in capital required by banks included in Basel III will not be fully in effect until 2019, Scharfstien and Stein propose that a more rapid rise in capital is required.
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Harvard Business School Dean is Bent on Change
September 10, 2010 - Boston.com
The Boston Globe interviews and profiles Dean Nohria.
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Emerging Markets New Global Playgrounds for Growing MNCs
September 10, 2010 - The Economic Times
Emerging markets are the new global playgrounds for growing multinationals. But how do they flourish in such a fiercely competitive and difficult space?
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Mindful Leadership: When East Meets West
September 7, 2010 - HBS Working Knowledge
William George is fusing Western understanding about leadership with Eastern wisdom about the mind to develop leaders who are self-aware and self-compassionate.
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China: Looking Beyond the Boom
Deptember 6, 2010 - Projo.com
Retsinas shares suggestions and solutions to the threat of a real estate bubble in China.
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You've Been YouTubed When Social Media Take Aim at Big Brands
Setpember, 2010 - HBS Alumni Bulletin
A new case, United Breaks Guitars, documents the incredible viral power of social media, analyzing the reach and impact of a clever customer complaint music video.
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Turning Employees Into Problem Solvers
August 30, 2010 - HBS Working Knowledge
Julia Adler-Milstein, Sara J. Singer, Michael W. Toffel
To improve patient safety, hospitals hope their staff will use error-reporting systems. Question is, how can managers encourage employees to take the next step and ensure their constructive use?
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The Drive to Acquire's Impact on Globalization
August 23, 2010 - HBS Working Knowledge
Humans have evolved four priorities or "drives," according to HBS professor emeritus Paul R. Lawrence: the drive to acquire, to defend, to bond, and to comprehend. In an excerpt from his new book, Driven to Lead: Good, Bad, and Misguided Leadership, Lawrence describes how the four drives impact globalization.
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Toward A Real Science Of Leadership
August 23, 2010 - Forbes.com
Nitin Nohria and Rakesh Khurana
The Handbook of Leadership Theory and Practice, a new book from Nohria and Khurana, is reviewed.
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A City in the Cloud: Living PlanIT Redefines Cities as Software
August 20, 2010 - Fast Company
Living PlanIT, a company recently the subject of an HBS case study is profiled.
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How to Speed Up Energy Innovation
August 9, 2010 - HBS Working Knowledge
We know the grand challenge posed by shifting away from dirty energy sources. The good news, says Harvard Business School professor Rebecca Henderson, is that we have seen such change before in fields including agriculture and biotech, giving us a clearer pathway to what it will take.
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It's Time to Invest in America
August 9, 2010 - New York Times
Bill George encourages tax credits to support investment and innovation in the private sector.
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Will the U.S. be a Global Securities Policeman?
August 5, 2010 - Financial Times
New financial reform regulation may see more involvement in U.S. courts concerning U.S. investors operating in foreign markets.
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Modern Indian Art: The Birth of a Market
August 2, 2010 - HBS Working Knowledge
Before 1995, there was little market for 20th-century Indian fine art. That's when artists, auction houses, critics, and others defined a new product category-modern Indian fine art-resulting in worldwide demand and soaring prices. Professor Mukti Khaire explains the dynamics behind new market categories.
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Wanted: A New Approach to Inventiveness
July 26, 2010 - FT.com
Successful innovation during the recession requires companies "to become more efficient—to learn to do more with the same levels of R&D spending—but also to improve efficacy, making the process function better so that you come up with more relevant innovations."
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Yes, You Can Raise Prices in a Downturn
July 26, 2010 - HBS Working Knowledge
Frank Cespedes, Benson Shapiro, Elliot Ross
If you and your customers understand the value represented in your pricing, you can—and should—charge more for delivering more. An interview on "performance pricing" with researchers Frank Cespedes, Benson P. Shapiro, and Elliot Ross.
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HBS Faculty Debate Financial Reform Legislation
July 21, 2010 - HBS Working Knowledge
Robert Steven Kaplan, David Moss, Robert Pozen, Clayton Rose
Harvard Business School professors share their perspectives on the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Beyond Disengagement and Anger
July 21, 2010 - Xconomy
The Compstudy survey of private company executive compensation is being updated and Wasserman is encouraging participation of executives.
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A Massive Generational Change in Leadership
July 19, 2010 - Forbes.com
As Baby Boomers face retirement, a new generation of business leaders has emerged. Bill George discusses their different way of seeing the world, and the challenges they face.
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How Mercadona Fixes Retail's 'Last 10 Yards' Problem
July 19, 2010 - HBS Working Knowledge
Spanish supermarket chain Mercadona offers aggressive pricing, yet high-touch customer service and above-average employee wages. What's its secret? The operations between loading dock and the customer's hands, says HBS professor Zeynep Ton.
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Renewed Focus on Finance
July 18, 2010 - FT.com
This article profiles Clayton Rose and his course "Managing the Financial Firm", created in response to the financial crisis.
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Rocket Science Retailing: A Practical Guide
July 13, 2010 - HBS Working Knowledge
How can retailers make the most of cutting-edge developments and emerging technologies? Book excerpt plus Q&A with HBS professor Ananth Raman, coauthor with Wharton professor Marshall Fisher of The New Science of Retailing: How Analytics Are Transforming the Supply Chain and Improving Performance.
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The Secret to Job Growth: Think Small
July/August, 2010 - Harvard Business Review
William R. Kerr, Edward L. Glaeser
Regions with many small businesses have seen a faster rate of job growth than those who rely on only a few large firms.
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Are You Ignoring Trends That Could Shake Up Your Business?
July/August, 2010 - Harvard Business Review
Elie Ofek, Luc Wathieu
The implications of trends, and best practices on how to best leverage these are discussed.
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Beyond Disengagement and Anger
July 1, 2010 - Huffington Post
The recent lack of public trust in established institutions may inspire real leaders to emerge.
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How to Restart America's Innovation Engine
June 28, 2010 - DailyFinance
In this interview, William Sahlman discusses opportunities for entreprenuers rasing capital.
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Integrated Reports Voluntary Filing
June, 2010 - World Federation of Exchanges
Robert Eccles, Mervyn King
South Africa has become the first country to mandated integrated reporting, Eccles and King describe the process and advise on how other entities can roll out integrated reporting structures.
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$100,000 Is Plenty for Deposit Insurance
June 23, 2010 - Wall Street Journal
Bob Pozen argues that the $100,000 FDIC limit does not need to be permanently raised to $250,000, as it will "undermine the market discipline exerted by corporate treasurers and sharply raise the FDIC's cost of bailing out banks."
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The Fine (And Risky) Line Of Leniency
June 16, 2010 - Forbes
Management's leniency levels are discussed as Societe Generale's rogue trader Jérôme Kerviel's trial begins.
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The Hard Work of Measuring Social Impact
June 14, 2010 - HBS Working Knowledge
Donors are placing nonprofits on the hot seat to measure social performance. Problem is, there is little agreement on what those metrics should be.
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Improving Brand Recognition in TV Ads
June 7, 2010 - HBS Working Knowledge
Advertisers pay millions of dollars to air TV ads that are subsequently ignored by a third of viewers. New research by HBS professor Thales S. Teixeira offers a simple, inexpensive solution for marketers to retain brand recognition.
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How to Improve Infrastructure and Slum Life
May 31, 2010 - Wall Street Journal (India)
In this interview John Macomber discusses India's infrastructure and the role of private equity.
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The Business of Inclusion
May 29, 2010 - Forbes India
Khanna highlights the importance and opportunities in providing lower income populations with economic and political knowledge.
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Going Green in Annual Reports
May 28, 2010 - Huffington Post
Eccles describes the innovations and benefits of companies reporting on sustainability.
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Michael Porter on Inner City Business
May 27, 2010 - Bloomberg Businessweek
An in-depth look at the benefits of encouraging the development of local businesses.
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Attracting the Next Generation
May 19, 2010 - Huffington Post
George discusses the importance of immigration reform, specifically the impact of legal immigrants and leadership from abroad in the United States.
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The End of the Euro
May 17, 2010 - Newsweek
Crisis--from the Greek "krisis," for a turning point in a disease--is one of many English words we owe to the ancient Athenians. Now their modern descendants are reminding us what it really means. Just when it seemed safe to start using the word "recovery," a Greek crisis is threatening the world economy, and the very existence of the world's second-biggest currency.
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How to Keep Politics Out of Rating Agency Reform
May 13, 2010 - FT.com
Since credit rating agencies did not anticipate the Greek financial crisis, they are again in the hot seat. Michel Barnier, the European commissioner for financial services, has declared that the European Union needs its own rating agency for sovereign debt. However, if such a rating agency were created or sponsored by the European Union, it would be very vulnerable to political influence. Imagine the political backlash if that agency tried to lower the bond rating for France or Germany.
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Cover Story View: Robert S. Kaplan
May 11, 2010 - People Matters
In this interview, Kaplan comments on building strategic advantages in organizations.
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How Big Business Can Regain Legitimacy
May 6, 2010 - Bloomberg Businessweek
Porter points out the importance of big business acting on a local level, supporting local innovation and business, particularly in the inner city.
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Leaders and Fiduciaries
May 3, 2010 - Huffington Post
There is a war of words waging about Goldman Sachs and its role in the larger financial crisis of 2008. The emerging battle lines concern what the bank's leadership did or did not do in betting against mortgage-backed securities - bets that in 2007 alone yielded $4 billion in profit - while at the same time marketing these securities to institutional investors.
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Block-by-Blockbuster Innovation
May, 2010 - Harvard Business Review
Not all innovations are huge breakthroughs, and smaller more incremental developments can be just as important.
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The Pay Problem
May/June 2010 - Harvard Magazine
The current compensation trouble stems in large part from unexamined assumptions that have fundamentally changed the nature of executive compensation.
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Ruthlessly Realistic: How CEOs Must Overcome Denial
Spring 2010 - Conference Board Review
The Conference Board interviews Richard Tedlow on his latest book.
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A Better Fail-Safe Than CoCo Bonds
April 21, 2010 - FT.com
Several academics have suggested that large banks be required to sell bonds that convert into common stock if the bank gets into trouble. Although creative, this is not a workable proposal. Contingent convertibles, or CoCo bonds, are untested in the US market and would probably carry an exorbitant interest rate.
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Back to Basics on Financial Reform
April 23, 2010 - Wall Street Journal
Niall Ferguson and Ted Forstmann
Ferguson and Forstmann provide alternatives to the regulation of derivatives now before the U.S. Congress.
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Straight Talk: Oprah's Leadership Lessons
April 14, 2010 - Huffington Post
Koehn highlights Oprah's humanity and positive influences as some of her leadership qualities.
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One Report: Better Strategy through Integrated Reporting
April 12, 2010 - HBS Working Knowledge
Robert Eccles, Michael P. Krzus
Stakeholders expect it. And smart companies are doing it: integrating their reporting of financial and nonfinancial performance in order to improve sustainable strategy. HBS senior lecturer Robert G. Eccles and coauthor Michael P. Krzus explain the benefits and value of the One Report method. Plus: book excerpt from One Report: Integrated Reporting for a Sustainable Strategy.
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Deficiency of institutions is a characteristic of an emerging market
April 9, 2010 - The Economic Times
Tarun Khanna, and Krishna G. Palepu
While "institutional voids" can be major roadblocks for companies they also present an opportunity. Khanna and Palepu on their new book, "Winning in Emerging Markets: Roadmap for Strategy and Execution."
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Increased Ethics Training 'Essential' to Future of MBA
April 6, 2010 - BNET
In this interview, Professors Datar and Gavin discuss the role of ethics and the future of business education.
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Lessons from the Crisis about Governing Financial Institutions
February/March 2010- Executive Counsel
Lorsch speaks of the importance of independent directors in light of the financial crisis.
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Resilience is Key to Jazzing Up Your Prospects: A Harvard Don's Tips for Surviving Tough Times
March 31, 2010 - Times Online
Gulati's four-part recipe for resilience is discussed.
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Ruthlessly Realistic: How CEOs Must Overcome Denial
March 29, 2010 - HBS Working Knowledge
Even the best leaders can be in denial--about trouble inside the organization, about onrushing competitors, about changes in consumer behavior. Richard Tedlow discusses how executives can acknowledge and deal with reality.
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Do You Really Know Who Your Customer is?
March 29, 2010 - DNA India
When Best Buy started feeling pressure from Wal-Mart in its bread-and-butter consumer electronics business, it knew it had to fight back. Mission #1: Learn more about its own customers.
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How to Design a Fair Bank Tax
March 24, 2010 - FT.com
Pozen takes a closer look at the proposed tax on banks, the "Federal Crisis Responsibility Fee," and proposes an alternative where only banks receiving direct federal dollars would pay this tax.
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Today's Leadership Style: Collaborative
March 22, 2010 - The Wall Street Journal
Management styles and structure are shifting from a hierarchical model to a more collaborative one.
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Admit It: You're in Denial
February 26, 2010 - The Washington Post
Tedlow provides guidance on the signs that an organization and its executives are in denial, and how to address it.
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Simple BPO Ops Will No Longer be Profitable for the Economy
February 25, 2010 - The Economic Times
In this interview, David Yoffie discusses the challenges facing Indian IT companies providing outsourcing services.
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Thriving In Any Economy
February 23, 2010 - CNBC.com
In his new book, Reorganize for Resilience, Ranjay Gulati discusses companies who not only survived but thrived in the midst economic recessions.
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U.S. Public Debt Hits Tipping Point
February 23, 2010 - Boston Globe
Pozen points out the problems faced by the U.S. in light of increasing national debt, and the need for politians to look past partisan politics and act quickly and decisively.
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A Greek Crisis is Coming to America
February 10, 2010 - FT.com
As the Eurozone faces financial crisis in Greece, Ferguson discusses the threat of increasing debt in Western nations.
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How to Get Americans Saving for Retirement
February 9, 2010 - FT.com
Automatic IRAs may help the large number of Americans who do not have an employee-sponsored retirement plan, according to Robert Pozen.
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HBS Cases: Looking Behind Google's Stand in China
February 8, 2010 - HBS Working Knowledge
Google's threat to pull out of China is either a blow for Internet freedom or cover for a failed business strategy, depending on with whom you talk. Professor John A. Quelch looks behind the headlines in a new case
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The Government's Role in Entrepreneurship
February 3, 2010 - Guardian.com
The Guardian interviews Josh Lerner about his new book "Boulevard of Broken Dreams."
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Exposure to Luxury Can Alter Decision Making: Study
February , 2010 - Reuters
The research paper by Roy Chua and Xi Zou, of the London Business School titled ""The Devil Wears Prada? Effects of Exposure to Luxury Goods on Cognition and Decision Making." is discussed.
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An Agenda Disrupted: Obama After Year One
January 26, 2010 - BusinessWeek
As Barak Obama's second year in office begins, Bill George looks at the crisis of confidence facing the president.
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Lessons for the American Housing Market
January 26, 2010 - FT.com
Comparing and contrasting the mortgage financing requirements of the U.S. and Canada, Pozen finds there are many aspects of the homebuying process in Canada (higher down payments for example) which the U.S. should learn from.
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Former Medtronic CEO Says Health Reform Hinges on 'Low-Tech' Solutions
January 19, 2010 - Minnesota Public Radio
Discussing health care and the economy, Bill George comments on taxes on innovation for health care related industries, and the importance of R&D in improving economic health.
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Stop the Federal Guarantees
January 13, 2010 - Huffington Post
Pozen proposes to replace guaranteed debt with non-guaranteed debt, in lieu of imposing a specific bank tax as proposed by the Obama administration.
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How to Bounce Back from Adversity
January/February, 2009 - Harvard Business Review (subscription required)
Joshua D. Margolis, Paul G. Stoltz
This article focuses on how companies can be managed to overcome adversity with resilience. The characteristics of resilient managers who provide leadership for their teams and can build resilience in their employees are discussed. The manager's ability to shift from cause-oriented to response-oriented thinking depends on the four perspectives or lenses controlling the factors causing the crisis, impact of management's actions, breadth of the crisis, and duration of the situation. A resilience regimen of questions that managers can use to reframe negative events and understand their thought processes is explained.
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The Globe: The Promise and Peril of Russia's Resurgent State
January/February, 2009 - Harvard Business Review (subscription required)
The article discusses the effect of the global financial crisis of 2008-2009 on the outlook for Russia's economic growth. The discussion focuses on the status of capitalism in Russia and the government's central role in business. A brief history of Russia's economic policy and business conditions since 2000 is given. The growth of Russia's economy and the fiscal surpluses resulting from high oil prices are mentioned. The experiences of Royal Dutch Shell, British Petroleum Co. PLC, and Enel SpA, which made business investments in Russia, are also discussed.
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When Home isn't Where the Heart Is
December 22, 2009 - Boston Globe
The threat of strategic mortgage defaulters to present and future homeowners is discussed.
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HBS Exhibition Portrays U.S. Downturns of the Past
December 17, 2009 - Harvard Gazette
Baker Library's most recent historical collections exhibit takes a look at the history of financial crisis in the United States.
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How to Restore Confidence In Loan Securitisation
December 16, 2009 - Financial Times
In this opinion piece Pozen states that if "we want to get the economy rolling again, we need to restore investor confidence in the loan securitisation process."
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To Stop Another Crisis, Everyone's Got To Have a Stake
December 13, 2009 - Boston Globe
Bob Pozen is interviewed regarding his new book "Too Big to Save"
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How to Take Moral Hazard Out of Banking
December 3, 2009 - FT.com
Niall Ferguson, Laurence Kotlikoff
Limited purpose banking (LPB) is discussed, as an alternative model for financial companies.
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To Spur Prosperity, Nurture Innovation
November 29, 2009 - Boston Globe
Dean Jay Light highlights the importance of innovation and the pursuit of new opportunities in building a "road out of recession."
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An Empire at Risk
November 28, 2009 - Newsweek
Ferguson says the current economic weakness of the U.S. could hurt its position as a global power.
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Homebuyer Tax Credits Threaten the FHA
November 24, 2009 - Wall Street Journal
Warning that those who rely on credit for a down payment on a home are more likely to default, Pozen proposes that "The Obama administration should increase the requirements to qualify for an FHA-insured mortgage."
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Why Niall Ferguson is Still Bearish
November 23, 2009 - Globe & Mail
In this interview with Report on Business, Niall Ferguson assesses the economic recovery and the outstanding issues for the financial system.
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The Great Wallop
November 15, 2009 - New York Times
Niall Ferguson , Moritz Schularick
In this opinion piece, Ferguson and Schularick see the end of "Chimerica," which "consisted largely of the combination of Chinese development, led by exports, and American overconsumption," and discuss President Obama's visit to Asia.
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Can Public Aid Really Help Business?
November 15, 2009 - New York Times
"Boulevard of Broken Dreams," Josh Lerner's recent book, is profiled, discussing public and private aid to small businesses in innovative ideas.
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Lessons From History
November 12, 2009 - Boston Herald
Niall Ferguson recently spoke at Boston's International Place Executive event outlining his thoughts on what caused the financial crisis, and the outstanding issues which are still evident today.
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Q&A: Josh Lerner on Innovation's Role in the Economy
November 11, 2009 - Wall Street Journal Online
Josh Lerner discusses his new book "The Boulevard of Broken Dreams" and the governments role in fostering innovation.
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Ex-Goldman Sachs Partner Kaplan Expects Populist Rage to Swell
November 5, 2009 - Bloomberg
Speaking at a panel at the Aspen Institute, Kaplan comments on the anger towards Wall Street, the possibility of regulatory reform, and investment banking compensation.
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TWIB: The Meltdown of the Nation's Financial System
November 2, 2009 - NECN
In this discussion on the economic crisis, Robert Pozen previews his upcoming book: "Too big to save? How to fix the U.S. Financial system."
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Five Questions for Bill George
November 2, 2009 - USA Today
Bill George answers questions on leadership in the wake of the financial crisis.
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Is It Fair to Blame Fair Value Accounting for the Financial Crisis?
November, 2009 - Harvard Business Review
Investors and corporate executives don't agree on how to value distressed assets. But maybe they don't have to.
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Stop Pining for Glass-Steagall
October 27, 2009 - McClatchy Newspapers
This Q&A with Robert Pozen visits themes of his upcoming books, "Too Big to Save."
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Sitting Down With Jay Light
October 26, 2009 - Harbus
Jay Light comments on the economy and the influence it has had on the HBS curriculum.
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Profit-based Growth Wiser than Increasing Size of Companies
October 15, 2009 - The Korea Herald
Michael Porter discusses market conditions in the post-economic crisis world, highlighting the importance of strategy and creativity in producing positive financial results.
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Seven Lessons for Navigating the Storm
October 13, 2009 - HBS Working Knowledge
Leading in crisis requires a combination of skills and behaviors--personal and professional--that can be mastered. A crisis, difficult as it is, also presents an opportunity to develop and grow.
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Workers of the World, Your Plight: Beware the 'Doom Loop'
October 8, 2009 - Kansas City Star
The concept of the "doom loop" is discussed, meaning that employees won't speak up with new ideas for fear of being laid off. According to Amy Edmondson, "When it really matters and you really want to say something, you don't. Instead it's 'yes, boss.'"
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HBS Curriculum Adapts to Meltdown
October 5, 2009 - Harvard Crimson
The changes that Harvard Business School has made to its curriculum in response to the financial crisis are explained here.
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The World Bank Must Fix Its Business Model
October 5, 2009 - FT.com
In the wake of the global financial crisis, the need to deliver aid effectively is more urgent than ever. A new United Nations report finds that the working poor in developing countries have been hardest hit. Yet the World Bank is falling short of its potential. At the heart of the matter is a tension between its mission and its business model. Reconciling this tension, one of the most challenging in its 65-year history, is the critical task for its leaders.
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HBS Study Goes Inside the Boardroom
October 1, 2009 - Harvard Gazette
"What about the role of boards of directors in the recession?" is the question posed by the HBS Corporate Governance Initiative. This profile of Jay Lorsch looks at the recently released study "Perspectives from the Boardroom - 2009."
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Over the Top: What's Wrong with Executive Pay?
September 2009 - HBS Alumni Bulletin
Roger Thompson, Brian Hall, Jay Lorsch, Rakesh Khurana
Now that the worst fears about economic meltdown are receding, what should be done about lingering issues such as over-the-top executive compensation? Does government have a role? Is it time we rethink corporate governance?
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As a Storm Approached, a Few Bankers Acted Wisely
September 16, 2009 - New York Times
Bill George is interviewed about Wall Street, Lehman Brothers, and his recent book Seven Lessons for Leading in Crisis.
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Stop Pining for Glass-Steagall
September 16, 2009 - Forbes
Robert Pozen discusses the Glass-Steagall Act of 1933 which was created to "separate commercial banking from the securities business." Pozen argues "The repeal of Glass-Steagall was at most a minor factor in leading up to the financial crisis, and its repeal was instrumental in resolving the liquidity squeeze on Wall Street."
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Wall Street's New Gilded Age
September 11, 2009 - Newsweek
In this article, Niall Ferguson reflects on the financial crisis by discussing the 1-year anniversary of the collapse of Lehman Brothers, the government bailing out financial institutions, and the financial regulation on Wall Street.
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An Ounce of Prevention: Financial Regulation, Moral Hazard, and the End of 'Too Big to Fail'
September/October 2009 - Harvard Magazine
Moss explains some the financial crises of the past, and points out that the role of the government as regulator in terms of financial risk should be increased in order to avoid future disasters.
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John Kotter's Urgent Message for Entrepreneurs
September 1, 2009 - Inc.
This interview with John Kotter, author of A Sense of Urgency, discusses the challenges and opportunities of leading in a recession.
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Disclose the Fair Value of Complex Securities
August 18, 2009 - Financial Times
This opinion piece states "no system of disclosing the fair value of complex securities is perfect. Models can be misused or misinterpreted. But reasonable and auditable methods exist today to incorporate the information in the most recent market prices."
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MBAs Gone Wild (subscription required)
July/August, 2009 - The American Interest
Professor Khurana takes a look at business education in light of the recent economic crisis.
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A Runaway Deficit May Soon Test Obama's Luck
August 11, 2009 - Financial Times
This article discusses President Obama's popularity after six months in office and takes a look at some success in fixing the economy and reforming health care.
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Chatter About a New Global Currency is Overblown
July 29, 2009 - Financial Times
Robert Pozen comments on the discussion around SDRs (Special Drawing Rights) replacing the U.S. Dollar as the global currency.
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Systemic Risk and the Fed
July 9, 2009 - Wall Street Journal
Pozen writes on U.S. Treasury proposals where the Federal Reserve is to be the sole regulator of managing the financial institutions that are considered a systemic risk.
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The Descent of Finance
July 6, 2009 - Washington Post
Robert Samuelson profiles Niall Ferguson's "Ascent of Money" and how looking back historically can point out the inevitable systemic risks found in the financial markets.
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Conducting Layoffs: 'Necessary Evils' at Work
July 6, 2009 - HBS Working Knowledge
Joshua D. Margolis, Andrew L. Molinsky
"The core challenge for everyone who performs necessary evils comes from having to do two seemingly contradictory things at once: be compassionate and be direct," say Joshua D. Margolis of HBS and Andrew L. Molinsky of Brandeis University International Business School.
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The Descent of Finance
July/August 2009 - Harvard Business Review (subscription required)
What if the current recession turns out to be like the Great Depression of 1929-1933? Four years from now, the United States might find itself with a still-shrinking economy, half as many banks as in 2009, a third as many hedge funds, and retail banking resembling a public utility. The federal debt could be at $20 trillion, the top income tax rate at 45%, and the S&P 500 at 418. The Breakdown, as Ferguson calls it, would alter the international economic order too, with China's GDP rising to half that of the U.S. by 2013 and the IMF's Special Drawing Rights replacing the dollar as the international reserve currency. Ferguson analyzes the roots of the crisis as well as the measures taken by the Obama administration to tackle it.
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Internet Economy Valuing the Web's Economic Impact
June 24, 2009 - Advertising Age
Deighton and Quelch write on the impact the internet has on the economy in relation to employment and the amount of money exchanged via the web.
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Echo Boomers a Lifeline for Embattled U.S. Housing
June 22, 2009 - Reuters
The "echo boomers" [aka millennials] are in a good position to revive the housing situation in the United States. According to Nicolas Retsinas, "echo boomers are larger than the baby boomer population. Couple that with immigration and you have the seeds, the possibility of a housing recovery."
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The State of Venture Capital
June 22, 2009 - Wall Street Journal
Laura Kreutzer interviews Josh Lerner about his forthcoming book, Boulevard of Broken Dreams, and the state of venture capital in the U.S.
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Business Looks in Mirror and Winces
June 17, 2009 - Toronto Star
Michael Porter recently received an honorary doctorate from the Rotman School at the University of Toronto. When speaking at the school's conference on lifelong learning, Porter tackled the topic "Restoring the credibility of business."
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Too Big to Fail
June 2009 - HBS Bulletin
David Moss is profiled here, observing that new regulations are required in order to restore some moral hazard in the financial system.
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GM and the World We Have Lost
June 3, 2009 - Boston Globe
Richard Tedlow, David Ruben
Tedlow and Ruben comment on the profound American loss that is the collapse of General Motors.
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How GM Wasted 'a Good Crisis'
June 2, 2009 - Wall Street Journal
Bill George discusses the demise of General Motors and the opportunities they missed.
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HBS Faculty Comment on General Motors
June 1, 2009 - Harvard Business School
Robert Austin, Joseph Bower, Daniel Heller, Nancy Koehn, Malcolm Salter , Daniel Snow, Dennis Yao
HBS Faculty members share their insights on the bankruptcy of General Motors.
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Improving Market Research in a Recession
May 26, 2009 - HBS Working Knowledge
At the same time that marketers must pare research expenditures, they face added pressure to secure high-quality data and insights. What's a Chief Marketing Officer to do?
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The Upside of Economic Carnage
May 21, 2009 - U.S. News and World Report
In this interview, Tom Nicholas observes that this is an opportune time for some companies and industries to invest in research and development, as DuPont and IBM did during the Great Depression.
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Mid-level Jobs Key to Recovery
May 19, 2009 - Boston Globe
Porter comments on the threat of Massachusetts losing mid-level jobs in this economy and in the long term.
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Diminished Returns
May 15, 2009 - New York Times
Ferguson, while looking back at historical financial bubbles and our recent crisis, argues that bad regulation, as more so than deregulation contributed to our economic downturn.
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Schumer's Shareholder Bill Misses the Mark
May 12, 2009 - Wall Street Journal
Jay Lorsch, Martin Lipton, Theodore N. Mirvis
This opinion piece speaks out against the Shareholder Bill of Rights legislation recently proposed in Congress, stating "excessive stockholder power is precisely what caused the short-term fixation that led to the current financial crisis."
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The Definitive Guide to Recruiting in Good Times and Bad
May 2009 - Harvard Business Review
Claudio Fernández-Aráoz, Boris Groysberg and Nitin Nohria
Few companies are thinking about hiring in the current economic environment, but that's a mistake. If history is any guide, staffing will become a front-burner issue once the upheaval eases. Even now companies are running into staffing problems in emerging markets, and many will have to find talented replacements for baby-boom retirees. Will they be able to meet their needs?
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Obama's First 100 Days: Economic Recovery
April 29, 2009 - Harvard University Gazette
As part of a package of "memos" to President Obama from Harvard University faculty, David Scharfstein writes that financial regulation reform needs to be one of the primary focuses for the new administration.
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Building Businesses in Turbulent Times
April 27, 2009 - HBS Working Knowledge
An economic crisis is a charter for business leaders to rewrite and rethink how they do business, says Lynda Applegate. The key: Don't think retrenchment; think growth.
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How Companies Survived Earlier Economic Storms
April 23, 2009 - Wall Street Journal
Nancy Koehn is interviewed on how companies are weathering the current recession and speaks about how the Heinz Co. survived a credit shortage in 1875, and also mentions the importance of entrepreneurship, stating, "One of my colleagues here at Harvard Business School, Howard Stevenson, once defined entrepreneurship as 'the relentless pursuit of opportunity without regard to resources currently controlled.'"
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Give the Big Three Another Chance
April 23, 2009 - Boston Globe
American car buyers need to give Chrysler, Ford, and General Motors a second chance because the companies have made major improvements in safety, fuel efficiency, and interior comfort. Heller states that, "While it may be unrealistic in the current economic slump to expect the Big Three's vehicle sales to suddenly increase by the millions, even a few hundred thousand more sales would be enough to save an assembly plant or two. It would also go a long way toward reviving the sagging fortunes - and public perceptions - of GM, Ford, and Chrysler."
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In Finance, Too, Learning Entails Risk
April 20, 2009 - Wall Street Journal
Robert Merton and his recent speech at MIT are profiled, where he explained that the tension "between financial innovation and crisis" contributed to the economic crisis.
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A Genuinely Stunning Graph for Your Consideration
April 14, 2009 - The Guardian
This article from The Guardian profiles David Moss's working paper on how the financial crisis has changed the future of financial institution regulation.
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The Past and Future of General Motors
April 9, 2009 - Huffington Post
Christensen writes on how foreign auto companies disrupted the U.S. auto industry back in the 1960's by attacking the low end market with compact cars.
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Harvard Business School Evaluates Past Performance
April 9, 2009 - Harvard Crimson
This article discusses the in-progress case study which takes a look at HBS's preparation of students on the lead-up to the economic crisis.
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Report: Bank Bailout a Bad Deal for U.S.
April 8, 2009 - Boston Herald
Joshua Coval and Erik Stafford
A recent working paper by Joshua Coval and Erik Stafford is profiled. The paper states that "banks overpriced the mortgage assets - and are still doing so."
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Why Obama and Geithner Should Find a Bank Czar
April 7, 2009 - Business Week
Bill George writes that President Obama needs to appoint a "czar" to oversee the $1 trillion bailout of financial institutions.
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Q&A With Venture-Capital Vet Bob Higgins
April 2, 2009 - Wall Street Journal Online
WSJ's Venture Capital Dispatch blog spoke with Robert Higgins about venture capital in the current economic climate, and his work at Highland Capital Partners.
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Harvard Begins Case Study as Tainted MBAs Reveal Damaged Brand
April 2, 2009 - Bloomberg News
Paul Healy discusses the HBS brand, and the case study an HBS task force is now undertaking to "scrutinize whether the school is failing to teach students to understand and manage risk in the current environment."
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How to Market in a Downturn
April 2009 - Harvard Business Review
Katherine Jocz and John Quelch
Qulech and Jocz identify and discuss the "patterns in consumers' behavior and firms' strategies that either propel or undermine performance," specifically in the context of an economic downturn.
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Letting Ed Liddy Twist in the Wind
March 23, 2009 - Business Week
Bill George writes on how the public has been blaming Ed Liddy for the AIG bonus payouts, and states that Liddy "is the one person in the country who can get AIG turned around and recoup a significant portion of the $173 billion in bailout funds the government has injected."
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Companies Making Profit Through Greed Hurt All
March 20, 2009 - Economic Times
Rosabeth Moss Kanter is interviewed for her views on the economic crisis.
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How to Innovate in a Downturn
March 18, 2009 - Wall Street Journal
Bhaskar Chakravorti discusses that now is the time for innovative managers and entrepreneurs to discover the idea that will lead us out of recession. Also see this Q&A on HBS Working Knowledge, Creative Entrepreneurship in a Downturn.
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Why CMOs are Gaining Ground in the Recession
March 10, 2009 - Advertising Age
John Quelch comments on the four top issues on which CEOs look to Chief Marketing Officers for guidance.
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Man of Integrity
March 9, 2009 - theBatt.com
In this profile, Michael Jensen states, "We are in some very difficult circumstances at the moment. The world is sinking into a depression that is likely to be worse than that of the 1930s…Yet we will survive, and we will learn, and we will come out the other side of this stronger than when we went in."
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Seven Lessons for Leading in Crisis
March 5, 2009 - Wall Street Journal
George discusses the failure of leadership as a root cause of the financial crisis, and shares the lessons to be learned from the recent mistakes made.
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Credit is Not the Bogey
March 4, 2009 - HBS Working Knowledge
Nicolas P. Retsinas, Eric S. Belsky
"As we attempt to jump-start the economy of 2009, we should recognize both the risks and the advantages inherent in a robust credit industry," write HBS lecturer Nicolas P. Retsinas and Eric S. Belsky. The director and executive director, respectively, of Harvard University's Joint Center for Housing Studies, they offer a prescription for making credit neither too easy nor too hard to get.
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Regulate, Baby, Regulate
March 4, 2009 - The New Republic
Professor Emeritis Thomas McCraw writes on President Obama's stimulus package and how it is similar to Franklin Delano Roosevelt's New Deal.
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US Senate Hearing - Where Were the Watchdogs? Systemic Risk and the Breakdown of Financial Governance: Robert Pozen Testimony
March 4, 2009 - US Senate Committee on Homeland Security and Governmental Affairs
Pozen shares his views on the best way the government can monitor systemic risk in the financial markets.
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'There Will Be Blood'
February 23, 2009 - Globe and Mail
This interview with Niall Ferguson discusses the global recession and how it is affecting Canada, the U.S., and China.
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The Bailout Is Robbing the Banks
February 17, 2009 - New York Times
David S. Scharfstein, John C. Coates
Coates and Scharfstein point out that TARP funds are distributed to bank holding companies, rather than the underlying banks, and the problems with distribution of funds at this level.
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Staying Focused on Your Career Goals in Today's Turmoil
February 11, 2009 - Harvard Business Publishing
This interview with Tim Butler emphasizes staying focused on your long term career goals during these difficult economic times.
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You Can Cap The Pay, But The Greed Will Go On
February 8, 2009 - Washington Post
Rakesh Khurana, Andy Zelleke
HBS's Rakesh Khurana and Harvard Kennedy School's Andy Zelleke write on the future of compensation for CEOs and how the structure of compensation is changing
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Tasting the fruits of effective innovation
February 6, 2008 - Financial Times
Ranjay Gulati and Nitin Nohria
"Recessions bring cuts in the size of the labour force, in capital expenditures, in advertising budgets, in travel, even in the loss of coffee and donuts from our meetings. Sadly, investments in research and development and innovation, the seed-corns of our future, are not insulated from these realities either. Over the past four quarters, the total R&D expenditures of S&P 500 companies (based on the approximately 200 companies that report them quarterly) declined 13 per cent - from a total of $43.1bn in the fourth quarter of 2007 to $37.4bn in the third quarter of 2008 - with more cuts almost certain in the near future."
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Keeping a keen eye on consumer behaviour
February 6, 2008 - Financial Times
Katherine Jocz and John Quelch
"What promises to be the longest and deepest global recession since the 1930s took many marketers by surprise. What appeared first as a crisis affecting the US home mortgage market soon morphed into a global financial meltdown and the evaporation of consumer credit. Given an average household debt in the US of 130 per cent of annual household income, it was inevitable that a downturn in consumer confidence would follow, along with a substantial reduction in consumer spending, which accounts for 72 per cent of US gross domestic product. How should marketers, few of whom are experts in macroeconomics, respond to these conditions?"
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Keynes can't help us now
February 6, 2009 - Los Angeles Times
It began as a subprime surprise, became a credit crunch and then a global financial crisis. At last week's World Economic Forum in Davos, Switzerland, Russia and China blamed America, everyone blamed the bankers, and the bankers blamed you and me. From where I sat, the majority of the attendees were stuck in the Great Repression: deeply anxious but fundamentally in denial about the nature and magnitude of the problem.
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Obama stimulus package questioned
February 6, 2009 - BBC
Michael Porter discusses in this article and podcast his "concern that the US government's economic stimulus package has not targeted the right areas."
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How Corporate America Can Help Obama
February 3, 2009 - Business Week
Bill George details how business leaders in the healthcare, finance, and education sectors can assist President Obama and "contribute to the nation's long-term problems."
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Surviving the Recession
February 3, 2009 - The Women on the Web
Professor Kanter is profiled in this article, which summarizes her "Four Actions to Survive the Recession and Emerge Triumphant."
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Giving the Crisis Perspective
January 12, 2009 - Metro
Niall Ferguson comments on the economic crisis and looks to financial history to explain how it happened.
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Four Actions to Survive the Recession and Emerge Triumphant
January 9, 2009 - Harvard Business Publishing
Kanter encourages action during the recission, and gives four examples that she has seen work in the past.
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Czar Power
January 7, 2009 - Forbes
This opinion piece from Ranjay Gulati discusses how government leaders and organizations have failed to work together. "We saw these patterns during the aftermath of Hurricane Katrina. Rather than consider the suffering people on the ground and pool forces to deliver the relief they so desperately needed, the disparate government agencies involved argued over jurisdictional overlaps and fought to protect, not share, the products and services each was charged with delivering."
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A Long Winter
January 5, 2009 - Publisher's Weekly
Olson writes on how revenues in the book industry struggled in 2008 and also states, "One-time adjustments by retailers and underlying shifts in the structure of the book industry will make 2009 the worst year for publishing in decades, and could lead to long-term fundamental changes in the business."
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Blockbuster or Bust
January 3, 2009 - Wall Street Journal
Elberse writes on how the struggling book industry is cutting back on staff and taking gambles on blockbuster manuscripts to deal with the economic downturn.
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How General Motors Violated Your Trust
December 18, 2008 - Washington Post
John Quelch gives eight reasons why GM's marketing efforts have failed.
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The Innovation Economy
December 16, 2008 - Business Week
Bill George outlines an "eight-step plan" that "will jump-start the innovation economy by providing built-in long-term growth, redistributing wealth without punishing the wealthy, and creating millions of well-paying jobs."
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How Hard Times Can Drive Innovation
December 15, 2008 - Wall Street Journal
An interview with Clayton Christensen discusses how he thinks the economic crisis is the best time for break through innovations and how private companies will be the innovators on such issues as healthcare. According to Christensen, "One great benefit of the current economic crisis is that it will create pressure to find a real solution to the health-care problem."
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Today's Mistakes Can Teach Tomorrow's Leaders
December 15, 2008 - Globe & Mail (subscription or purchase required)
Rob Kaplan is interviewed on his time at Goldman Sachs, his transition to becoming a professor at Harvard Business School, and the root causes of the economic crisis.
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Expert: Auto Rescue Plans Lack Credibility
December 10, 2008 - Wall Street Journal (subscription required)
Interview with Rosabeth Moss Kanter, which discusses the plans that the" Big 3" presented to Congress. This includes how GM needs to cut back on models, Chrysler needs to be a small manufacturer with strategic partners, and how Ford is not asking for a loan but is restructuring itself. Kanter also comments on the situation with "green cars", executive compensation, and keeping employee moral up.
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Professor: Auto Bailout Won't Work
December 9, 2008 -Day to Day (National Public Radio)
Interview with Malcolm Salter on the auto bailout. "I have some very serious questions about oversight, and I think we're moving awfully quickly on this because, obviously, the events are forcing us to do so. But I have some concerns about this so-called car czar. I'm not quite sure I know what it means. I'm not quite sure I know what decision rights the car czar will have."
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Since Enron, Little Has Changed
December 5, 2008 - Wall Street Journal (subscription required)
Bill George and Malcolm Salter
HBS professors Salter and George write that the breakdown of corporate governance led to the downfall of Enron as well as the recently failed financial institutions, and also state that "executives received outsized cash bonuses for closing deals and selling securities without evidence of future profitability. All this encouraged deception and carelessness in the management of firm-wide risk."
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Rebuilding America - Now
December 5, 2008 - Boston Business Journal
The election victory for Barack Obama means that there will be "congressional approval of a major investment in infrastructure." Quelch also lists six things that need to be done including conducting an audit of the transportation infrastructure and development of a transportation strategy.
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Auto CEOs Aren't Making Their Case
December 4, 2008 - Wall Street Journal (subscription required)
Malhotra writes about his 30 year "love/hate" relationship with the auto industry, and discusses how Detroit is not in the same situation as the financial industry when it comes to bailouts.
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In Defense of American Cars
December 3, 2008 - Forbes.com
Professor Snow discusses how General Motors, Ford, and Chrysler have learned from their mistakes and now produce world-class vehicles. The auto industry needs support from the American consumer.
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Unconventional Wisdom in a Downturn
December 1, 2008 - Harvard Business Review
Robert S. Kaplan, David P. Norton, Stewart D. Friedman, BV Krishnamurthy, Tamara J. Erickson, Jeffrey M. Stibel, Peter Delgrosso
"What best practice challenges the conventional wisdom about what to do in a downturn?" This article provides an edited selection of provocative responses to the question from mangement bloggers at harvardbusiness.org.
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Stimulus for Skeptics
November 28, 2008 - New York Times
David Brooks speaks with Michael Porter about what the government needs to do (and not do) to efficiently stimulate the economy.
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Foundations to be Laid Before Bridging Gap
November 19, 2008 - Financial Times
This article argues against giving large U.S. companies the option of adopting international accounting standards for their 2009 financial statements since it will take at least five years to resolve key issues in converting from the Generally Accepted Accounting Principles standard.
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The Leadership Imperative
November 19, 2008 - Forbes
Dean Light states how Harvard Business School is adapting to the crisis by adjusting curriculum. He also explains that business schools have accepted some of the blame for the current situation, but remain focused on producing business leaders for the future.
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There's a Better Way to Prevent 'Bear Raids'
November 18, 2008 - Wall Street Journal
Robert Pozen and Yaneer Bar-Yam
This op-ed piece argues that the temporary ban on short selling was ineffective and that a better approach would be to bring back the "uptick" rule, which the SEC repealed in 2007 after 70 years.
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'Team Chimerica'
November 17, 2008 - Washington Post
Professor Niall Ferguson discusses President Bush's decision not to create new international regulation for financial markets and also states that "the partnership between the big saver (China) and the big spender (U.S.)" is a factor in the economic crisis
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What Harvard Says About Israeli VC
November 9, 2008 - Globes - Israel (registration required)
Batya Feldman interviews Paul Gompers about whether the international venture capital industry is going to survive the economic crisis.
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The Flawed Architecture of the Financial System
November 5, 2008 - Op-Ed
The architecture of the financial system is a disastrous "hairball," in which everything is linked to everything else via counterparties and collateral. This architecture allows shocks to propagate, so that failures in one part of the system inflict "collateral damage" on other distant and unrelated parts. The hairball is a catastrophe that threatens us all. We should redesign the system based on the principles of limited propagation and modularity
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Redefining the American Dream
October 31, 2008 - Washington Times
John Quelch writes "underpinning the collapse of the housing bubble is a demand-side problem - the American Dream - that has been hijacked in countless political speeches from an embodiment of America's core values into a crass appeal to materialism and easy gratification.
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Why America Needs an Economic Strategy
October 30, 2008 - BusinessWeek
The U.S. lacks a long-term economic strategy to ensure prosperity, says Michael E. Porter. Here is what the next president must do to keep America competitive.
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An Astonishing Lack of Urgency (And What You Can Do About It)
October 28, 2008 - Harvard Business Publishing
John Kotter provides a series of suggestions on "what can you do" when facing the anxiety from the economic realities within your company.
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Just Keep Our Money
October 21, 2008 - Washington Post
Peter Tufano suggests offering US savings bonds as an alternative to stimulus package tax refund checks.
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Management must become a profession
October 20, 2008 - Financial Times
Rakesh Khurana and Nitin Nohria
In the face of the recent institutional breakdown of trust in business, managers are losing legitimacy. To regain public trust, management needs to become a true profession in much the way medicine and law have, argue Khurana and Nohria of Harvard Business School.
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This Bailout Doesn't Pay Dividends
October 20, 2008 - New York Times
David S. Scharfstein and Jeremy C. Stein
This opinion piece discusses the $125 Billion on preferred shares in 9 US banks bought by the US government, and the effects of allowing these banks to continue to pay out dividends to stockholders.
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Reverse auctions are useful to buy assets but no panacea
October 9, 2008 - Financial Times
This article explains the challenges of reverse auctions in the context of thousands of unique pools of mortgage backed securities (MBS). It recommends that the Treasury focus on buying control of all tranches of a MBS pool in order to modify the mortgages underlying the pool and that the SEC make clear that the sales in reverse auction will be deemed "distressed sales", and therefore do not require mark downs by all the losers in the reverse auctions.
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The End of the Any Breathing Borrower Era
October 8, 2008 - Boston Globe
Nic Retsinas explains the short history of subprime loans, and the devastating aftereffects, along with a recommendation to better regulate in the future.
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How to Unfreeze Bank Lending
October 8, 2008 - Wall Street Journal
Robert Pozen on how to melt the freeze on short-term loans by banks and create a new pool of liquidity.
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Wall Street's Latest Crisis of Leadership
October 3, 2008 - Business Week
HBS professor Bill George looks at both the failure of some Wall Street Leaders and the prudent leadership of those who "prepared for this crisis by anticipating the impact of systemic risks and emphasizing the long-term health of their firms."
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The End of Prosperity?
October 2, 2008 - Time Magazine
Professor Niall Ferguson discusses the historical parallels between our current financial crisis and the Great Depression, commenting "a Congress-approved bailout may be just a short-term fix. But a short-term fix is better than no fix. If nothing else, it would signal to the world that—unlike in 1930—the U.S. is doing what it can to avoid financial calamity and sidestep Depression 2.0."
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Workout or Bailout: Should Government Take Advantage of the Buffett Effect?
October 2, 2008 - HBS Working Knowledge
Join the discussion on HBS Working Knowledge! Given the unfolding financial crisis, HBS professor Jim Heskett asks: To what degree should the U.S. government take advantage of free markets to ununclog them up when they become frozen? Can it employ the "Buffett Effect" to do so? Is the analogy even appropriate?
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Financial Crisis Caution Urged by Faculty Panel
September 26, 2008 - Working Knowledge
Dean Jay Light and a group of Harvard Business School faculty explore the origins and possible outcomes of the U.S. financial crisis at a recent "Turmoil on the Street" panel. Participants: Dean Jay Light, Robert Merton, David Moss, Nicolas Retsinas and Clayton Rose.
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Financial Crisis Faculty Perspectives, Part I and II
September 26, 2008 - Harvard Magazine
This set of articles from Harvard Magazine summarizes the viewpoints from both the HBS panel and the Harvard University on the crisis.
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A Long Shadow
September 22, 2008 - Financial Times
HBS Professor Niall Fergusson comments on how we arrived at the financial crisis and its possible outcomes. He states that "the Great Repression is upon us. On one side can be seen the chain reaction of deleveraging as banks, other companies and households all battle to stabilize balance sheets that became much too highly geared in the days of easy money; as the resulting credit contraction and forced asset sales create a vicious downward spiral; as the slowdown spreads to Main Street and from Main Street to the world. On the other side are the Fed and the Treasury, desperately manning the monetary and fiscal pumps while trying to decide who is too big to fail and who is not."
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Building Sandcastles: The Subprime Adventure
September 22, 2008 - HBS Working Knowledge
The early days of the subprime industry seemed to fulfill a market need-and millions of renters became homeowners as a result. But rapidly escalating home prices masked cracks in the subprime foundation. HBS professor Nicolas P. Retsinas, who is also director of Harvard University's Joint Center for Housing Studies, lays out what went wrong and why.
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Marketing Your Way Through a Recession
March 3, 2008 - HBS Working Knowledge
In a recession, consumers become value oriented, distributors are concerned about cash, and employees worry about their jobs. But a downturn is no time to stop spending on marketing. The key, says professor John Quelch, is to understand how the needs of your customers and partners change, and adapt your strategies to the new reality.
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How to strengthen Wall Street's global share
April 26, 2007 - Financial Times (subscription required)
This article looks at the reasons behind the declining role of the US in the capital markets.
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Reporting for Duty
March 3, 2007 - New York Times
Robert Pozen comments on the detrimental effects of public company quarterly reporting.
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