Updated April 17, 2011 – I am happy to announce that I’ve been elected as NYU PR&CC Alumni Representative 2011/2012. Fellow NYU PR friends and classmates, thank you for your support. It’s going to be an exciting year!
And, to my fellow PR&CC classmates and friends: I would like to earn your vote – so please share any feedback, ideas or suggestions. Feel free to contact me by email, Facebook, Twitter or whatever medium suits you best. You can email your vote to PRL.email@example.com by Friday @ 6pm. Let the voting begin.
Alumni Representative Platform:
Building a strong alumni network is the best way to invest in the ongoing value of our NYU education.
A strong alumni network expands networking opportunities for our current and future ambitions, supports the program’s potential to recruit future successful candidates, and furthers the already highly regarded PR&CC program reputation.
As a graduate of university that “bleeds” blue and white, I know firsthand the benefits of a wide-reaching alumni association. Additionally, I’ve held a wide range of positions on numerous student bodies, committees, clubs and organizations, including PRSSA Penn State National Conference Committee Representative, New Orleans.
My goal is to further develop our alumni network and make it more accessible to us.
I think our first priority should be to increase the alumni’s involvement with the current students. As a participant in the mentor program this semester, I know the graduates were eager to share their knowledge and experience. I hope to build on this program and complement it with an online presence that is easy, accessible and beneficial to current students and graduates.
Overall, my hope is to inspire and facilitate camaraderie, team spirit if you will, that genuinely encourages the success of fellow PR&CC students and recognizes that these achievements are yet another investment in the value of our NYU education.
In seven short months, I’ve had the privilege of getting to know numerous talented and engaging individuals. And, ultimately that’s what drives a successful alumni network – it’s the memories and relationships we forge through our university experience. This is why I’m committed not only to promoting our alumni relations, but also to assisting the executive board in every way I can.
This is an exciting time for our university, the profession and future of our class. I’d be honored to be your alumni representative and strive to make us all proud to be graduates of the NYU PR&CC program.
“It isn’t just what you know, and it isn’t just who you know. It’s actually who you know, who knows you, and what you do for a living.” — Bob Burg
“Loss of the Big Board to Germans Is a Crime, but Who’s Guilty?” by Wall Street Journal’s David Weidner asks key players the tough questions regarding the “merger” of Deutsche Börse and the New York Stock Exchange. Dick Grasso, John Thain and Duncan Niederauer, three NYSE chief executives “take the stand” to determine who’s “responsible” for America’s loss of the “Big Board.”
An interesting take on a serious situation which does not pinpoint a guilty party, but it does highlight speculation surrounding each CEO’s actions and possible contributions towards the Deutsche Börse acquisition of the NYSE. As easy as it would be to place blame one individual, it is more than apparent that numerous items led America to this point. The article ended rather abruptly and left me with one question – Why is this acquisition referred to as a “merger?” And why is it continually compared to the merger of the NYSE and Euronext in 2007? This is a buyout and nothing less. There is big difference between “merger” and an international company owning a majority stake in America’s historical financial beacon. The word “merger” softens the blow and, in my opinion, keeps this story “on the down low.” For those fervently following it, this might sound completely off, but I asked a number of news-informed friends their opinion and was surprised that this was the first they’d heard about it.
So, as an ethical PR or communication professional, what is your thought on how this “business combination” is being publicized? This is not a question about whether this is the right business decision for America, but if this is the right (ethical) communication strategy. And, how would you suggest the NYSE communicate this raw and emotional moment to the American public?
Additionally, this is a recent article by Nancy Mclernon that supports the “merger.” She backs her claim by using examples of previous successful mergers between well-known American brands and international companies.
Just as technology is outrunning the government, so is its influence on the financial sector; hence the ongoing ethical debate about flash trading.
But, regarding the financial collapse of 2007 – 2010, I’d argue that actions by individuals, ethical or not, far outweigh any role technology played in this recession.
Not one person or institution is entirely at fault. More so, an overlap and repeated history of bad business decisions and poor judgment can be attributed to what is today coined the “Great Recession.” Broadly, it is the result of greed, ineffective regulation and poor judgment:
–Greed on the side of Wall Street, who knowingly sold dubious mortgage-backed securities;
–Ineffective supervision by the government, who neglected to monitor the activity and ensure the stability of the market; and
–Poor judgment by the public, who, for the past 40 years, have “borrowed, borrowed, borrowed” and consciously lived outside their means.
Basically, banks started buying up mortgages and selling them to investors (as triple- A rated mortgage-backed securities) in order to free up liquidity for the bank and increase its ability to lend. For example, it used to be that a bank issued a loan for $50,000, and then collected on that $50,000 over the life of the loan. Now, that same bank can sell that loan to an investor and recoup the entire $50,000 in a matter of weeks.
A simple supply and demand problem quickly emerged. Banks ran out of lendable loans, however, mortgage-backed securities were in high demand. So, banks lowered their lending standards in order to keep up with demand. This decision subsequently came full circle when homeowners ran out of money and stopped paying their mortgages.
So, was it unethical for banks to alter their lending standards? Even when the government did not raise objections or question the changes? Was it ethical for homeowners to take out loans they knew they could not afford?
In conclusion, people need to balance their aspirations with prudence and moderation. In the same way, institutions need to exercise similar judgment in the creation and application of new products and technology platforms.