Happy Holidays to everyone. More in the new year. Remember, the
faculty are here to help.
Saturday, December 27, 2008
Monday, December 15, 2008
Merry Christmas everyone, or whatever
Whatever holiday you celebrate, I want to wish everyone the best time during the break from school. Take time to be with family, because that's what really counts. Of course, don't forget that the family has gotta eat!
Good luck to everyone, and I'm looking forward to hearing from you in the new semester.
Good luck to everyone, and I'm looking forward to hearing from you in the new semester.
Thursday, December 4, 2008
'Accounting major? Don't take finance classes,' says the accounting faculty
In the last week or so undergrads have been asking some of us about something their accounting faculty advisors have told them recently (it's not new).
To wit:
"If you're an accounting major, taking finance classes or being a double major 1) is a waste of time, or 2) dilutes your transcript, making you look 'weaker' to employers, or 3) is a distraction."
Pick one of the reasons. With limited exception, they're crap (of course). But some of us on faculty have heard it before. It's a really good example of folks not having an "abundance" mentality -- if students take FINANCE classes, that somehow takes away from the ACCOUNTING program at UHCL. What a bunch of garbage.
What's worse, it doesn't do the students any good in the long run to think that, or to hear disparaging remarks about UHCL in any context. These kind of remarks violate students' trust of us as counselors and career advisors.
To the accounting faculty with this attitude: open your eyes. Spouting this kind of stuff undermines your credibility with the students. It hurts all of us, but you especially. If nothing else, 6 months after they start a job they're going to look back and think about how stupid some of that rhetoric was.
What's the limited exception, when is the recommended FOCUS a good idea? If you KNOW you're going into public accounting (say, you've already worked in it and it's what you live for) then focus like a laser on getting your CPA. Don't daudle. Get it done ASAP. Forget everything else in the meantime.
Otherwise, it may make sense to keep your options open. Take a few classes here or there in things that interest you. MAYBE even get a double major just in case the accounting thing doesn't really work for you down the road.
I have ALWAYS told my finance students to get as much accounting as possible during their undergrad years. Always. If some of them end up as accounting majors (and plenty have) then so be it. I won't LIE TO THEM to get a few more finance majors here or there. You have to understand accounting to do finance, no question. You have to make sure you're not just passing the classes, but that you really KNOW it.
At the same time, if you plan on getting an accounting degree, you don't have to plan on getting a CPA (another myth). Not everyone does. But if you end up working in public accounting where everyone else has a CPA, and you don't have one, you're going to feel like the Ugly Duckling. I've talked to folks in the REAL WORLD about this one lately, and it's annoying if you're in the middle of that situation.
Finally, for those for whom the "limited exception" applies, think about this: if you're going for your CPA, and you KNOW that's where you're headed, please make sure that UHCL is giving you what you need. Take the time to find out what challenges lie ahead and make sure that the courses you're taking are rigorous enough to prepare you for the CPA exam. If they aren't, take the time to find out why and figure out how to fix things for yourself before you take the exam.
One other alarming thing to report:
One of my accounting students the other day said they had been told by faculty in accounting that it was usually a good idea to plan on taking one of the CPA review courses off-campus (they said a name at the time). Some of my other students echoed this in class this week. WHAT! Isn't that what an accounting degree is for? In 20 years of doing this stuff, I've never heard anything so absurd.
As always, if you're concerned about this kind of stuff, come talk to us. That's what we're here for.
Tim
To wit:
"If you're an accounting major, taking finance classes or being a double major 1) is a waste of time, or 2) dilutes your transcript, making you look 'weaker' to employers, or 3) is a distraction."
Pick one of the reasons. With limited exception, they're crap (of course). But some of us on faculty have heard it before. It's a really good example of folks not having an "abundance" mentality -- if students take FINANCE classes, that somehow takes away from the ACCOUNTING program at UHCL. What a bunch of garbage.
What's worse, it doesn't do the students any good in the long run to think that, or to hear disparaging remarks about UHCL in any context. These kind of remarks violate students' trust of us as counselors and career advisors.
To the accounting faculty with this attitude: open your eyes. Spouting this kind of stuff undermines your credibility with the students. It hurts all of us, but you especially. If nothing else, 6 months after they start a job they're going to look back and think about how stupid some of that rhetoric was.
What's the limited exception, when is the recommended FOCUS a good idea? If you KNOW you're going into public accounting (say, you've already worked in it and it's what you live for) then focus like a laser on getting your CPA. Don't daudle. Get it done ASAP. Forget everything else in the meantime.
Otherwise, it may make sense to keep your options open. Take a few classes here or there in things that interest you. MAYBE even get a double major just in case the accounting thing doesn't really work for you down the road.
I have ALWAYS told my finance students to get as much accounting as possible during their undergrad years. Always. If some of them end up as accounting majors (and plenty have) then so be it. I won't LIE TO THEM to get a few more finance majors here or there. You have to understand accounting to do finance, no question. You have to make sure you're not just passing the classes, but that you really KNOW it.
At the same time, if you plan on getting an accounting degree, you don't have to plan on getting a CPA (another myth). Not everyone does. But if you end up working in public accounting where everyone else has a CPA, and you don't have one, you're going to feel like the Ugly Duckling. I've talked to folks in the REAL WORLD about this one lately, and it's annoying if you're in the middle of that situation.
Finally, for those for whom the "limited exception" applies, think about this: if you're going for your CPA, and you KNOW that's where you're headed, please make sure that UHCL is giving you what you need. Take the time to find out what challenges lie ahead and make sure that the courses you're taking are rigorous enough to prepare you for the CPA exam. If they aren't, take the time to find out why and figure out how to fix things for yourself before you take the exam.
One other alarming thing to report:
One of my accounting students the other day said they had been told by faculty in accounting that it was usually a good idea to plan on taking one of the CPA review courses off-campus (they said a name at the time). Some of my other students echoed this in class this week. WHAT! Isn't that what an accounting degree is for? In 20 years of doing this stuff, I've never heard anything so absurd.
As always, if you're concerned about this kind of stuff, come talk to us. That's what we're here for.
Tim
Monday, November 17, 2008
Mark Cuban is under investigation (update). And the info bounce exists! Or it did in '04.
"Under investigation" is a technical term, a piece of jargon, that we use in the finance biz to designate that someone is facing potential jailtime.
Normally I wouldn't recommend TheSmokingGun.com b/c of its controversial nature, but this is just precious, as my little white-haired granny would say.
Holy smoke. Look at pages 6 and 7 of the complaint. It says that he made $750,000 on the deal! Sounds pretty clear to me, and a jury will may think so too.
I wonder if this has anything to do with his outspoken opposition to the current bailout environment. [We should get our tinfoil hats ready, and wish him lots of luck.] Of course, this all may be some kind of misunderstanding.
His anti-bailout website.
OK, so how is this relevant? Note that the stock (pages 6 and 7) lost 9.3% at the announcement of the PIPE. So, the "private equity" portion of the PIPE mitigated some of the asymmetric information effect, but it still took at hit. Wow, this finance stuff really means something.
In this case, it may mean some time in the Big House. Ouch. Can't go to jail without demonstrable "ill gotten gains." Man, what a bummer.
On closer inspection, though, it looks as though the Feds are just asking for a fine and not jail time. I'm not used to reading insider trading indictments, but that's what it looks like (page 2, at the top). Maybe that isn't where they ask for slammer time.
His anti-bailout website.
OK, so how is this relevant? Note that the stock (pages 6 and 7) lost 9.3% at the announcement of the PIPE. So, the "private equity" portion of the PIPE mitigated some of the asymmetric information effect, but it still took at hit. Wow, this finance stuff really means something.
In this case, it may mean some time in the Big House. Ouch. Can't go to jail without demonstrable "ill gotten gains." Man, what a bummer.
On closer inspection, though, it looks as though the Feds are just asking for a fine and not jail time. I'm not used to reading insider trading indictments, but that's what it looks like (page 2, at the top). Maybe that isn't where they ask for slammer time.
Thursday, October 9, 2008
AOL Webspace is going away!
Just so you guys know, AOL webspace is getting shut down 10/31/08. I will be moving our documents to WebCT or some other host as soon as I can. Watch this space for links/announcements.
If WebCT is going to be a firewall issue for anyone, please let me know at michael@uhcl.edu as soon as possible.
Sunday, October 5, 2008
Welcome to the UHCL Finance Blog
I thought it would be a good idea to set up a blog for undergrad finance at UH Clear Lake. We'll see where this goes.
Sunday, September 28, 2008
New Syllabi
Hey Everyone:
Don't forget that I've ended up with new syllabi for each class that incorporate new test dates and make-up days for Ike (see below). You can visit each course's Web site to pick up copies of the post-Ike revisions. I handed out the changes (one-page) in class last week (9/22 or 9/24).
Don't forget that I've ended up with new syllabi for each class that incorporate new test dates and make-up days for Ike (see below). You can visit each course's Web site to pick up copies of the post-Ike revisions. I handed out the changes (one-page) in class last week (9/22 or 9/24).
Sunday, September 21, 2008
UHCL Makeup schedule for Ike -- my classes
To make up time for what we lost due to Ike, the administration at UHCL has determined that we need to have classes on Friday and Saturday. It's unofficial so far, but here's the schedule for my 4331 and 5133 classes.
Monday at 1PM will meet Friday 10/3 from 1-4
Monday at 7PM will meet Sat. 10/4 from 1-4
Wednesday at 7PM will meet Sat. 10/18 from 1-4
I will clarify as new info becomes available, but I suggest that folks keep Fridays and Saturdays flexible for the next two months.
Update: I've gotten some emails about this. I'll try to answer questions in class this week.
Monday at 1PM will meet Friday 10/3 from 1-4
Monday at 7PM will meet Sat. 10/4 from 1-4
Wednesday at 7PM will meet Sat. 10/18 from 1-4
I will clarify as new info becomes available, but I suggest that folks keep Fridays and Saturdays flexible for the next two months.
Update: I've gotten some emails about this. I'll try to answer questions in class this week.
Friday, September 19, 2008
OK, so Ike came and went
Thanks to those folks who've emailed about our safety or lack thereof. We're fine. We evac'ed to Woodville TX and found out that they were under mandatory evac too, and they're going to be without power until 10/8 or so.
[Update: Some folks in Woodville and points west actually got power back on Friday 9/19, but that's mainly around the center of town. During our drive back from Woodville on Sat. 9/20 there was plenty of damage and quite a number of destroyed homes.]
Here, we lost some of the roof (so we have a blue tarp now) and the back fence, so we've spent all week working on that stuff. I never knew I could see so much from up on my roof! I can almost see where Kemah was! We've had some family here from parts outward, and we've had fun.
But seriously -- we'll have to reevaluate where we stand in class and make sure that we can make up for lost time. According to the ALMOST OFFICIAL UHCL disaster recovery plan, our lost class (from this past week) will be made up on Saturday, 10/18 from 1 to 4. We'll discuss in class on 9/24 the new schedule.
Note: Your other classes will have a makeup schedule too, so get ready. Saturday classes would appear to be the new norm.
I hope everyone is OK after the storm, and I'm looking forward to class next week.
[Update: Some folks in Woodville and points west actually got power back on Friday 9/19, but that's mainly around the center of town. During our drive back from Woodville on Sat. 9/20 there was plenty of damage and quite a number of destroyed homes.]
Here, we lost some of the roof (so we have a blue tarp now) and the back fence, so we've spent all week working on that stuff. I never knew I could see so much from up on my roof! I can almost see where Kemah was! We've had some family here from parts outward, and we've had fun.
But seriously -- we'll have to reevaluate where we stand in class and make sure that we can make up for lost time. According to the ALMOST OFFICIAL UHCL disaster recovery plan, our lost class (from this past week) will be made up on Saturday, 10/18 from 1 to 4. We'll discuss in class on 9/24 the new schedule.
Note: Your other classes will have a makeup schedule too, so get ready. Saturday classes would appear to be the new norm.
I hope everyone is OK after the storm, and I'm looking forward to class next week.
Tuesday, September 9, 2008
Sunday, September 7, 2008
5133 Readings Chapters Progress
I've had some questions about our progress (or lack thereof) through the material in 5133 on Wednesday nights. Hurr. Ike might make that class even tougher.
What we're going to do, I think, is move ahead with the financial structure stuff and the review next class (this week if we're here) but I'm going to start covering the Chapter 10, 11 and 12 stuff regardless of where we get in the preliminary stuff. What I'm afraid of is that folks aren't reading ahead and working the problems in 10, 11 and 12, and 14 for that matter, and that stuff can be tough. Plus, when we get to it we'll fly through it as a review.
Please, please don't bog down with the readings. Read as much as you can, up through 16 if possible. As soon as you can -- you may even have to read it twice to understand it, I know that I did. I'm STILL learning stuff every time I read a chapter. Please work problems and read ahead and let me know if you have questions, regardless of how far we get in class each week. Otherwise, things are going to come pretty fast and furious in a few weeks.
What we're going to do, I think, is move ahead with the financial structure stuff and the review next class (this week if we're here) but I'm going to start covering the Chapter 10, 11 and 12 stuff regardless of where we get in the preliminary stuff. What I'm afraid of is that folks aren't reading ahead and working the problems in 10, 11 and 12, and 14 for that matter, and that stuff can be tough. Plus, when we get to it we'll fly through it as a review.
Please, please don't bog down with the readings. Read as much as you can, up through 16 if possible. As soon as you can -- you may even have to read it twice to understand it, I know that I did. I'm STILL learning stuff every time I read a chapter. Please work problems and read ahead and let me know if you have questions, regardless of how far we get in class each week. Otherwise, things are going to come pretty fast and furious in a few weeks.
Good Luck Storming the Castle!
We'll have to see where Ike is in a few days, but if we get a consistent track it's a good bet that UHCL will be closed later this week for Act II of the "Texodus". Or not.
If we have to evacuate, at the least it will set our exams back a week. If we have more than just a run to the hills, all bets are off.
As always, we just have to wait and see.
Models are here:
Models
Track cone is here:
Cone (5-day)
We'll have to see where we end up with this.
If we have to evacuate, at the least it will set our exams back a week. If we have more than just a run to the hills, all bets are off.
As always, we just have to wait and see.
Models are here:
Models
Track cone is here:
Cone (5-day)
We'll have to see where we end up with this.
Thursday, August 28, 2008
Here it comes!
Tropical Storm Gustav seems to be bearing down on the Gulf over the next few days. Please keep an eye on Accuweather or Weather Underground for the latest. I'll try to post class updates here (since it's easier than AOL) if and when we need to reorganize things.
As of Sunday night, it looks as though Gustav is going into Central LA, so we're in the clear. Dr. Staples has said UHCL will be open on Tuesday for normal operations.
So, we dodged a bullet on this one. Hope everyone east of here stays safe.
As of Sunday night, it looks as though Gustav is going into Central LA, so we're in the clear. Dr. Staples has said UHCL will be open on Tuesday for normal operations.
So, we dodged a bullet on this one. Hope everyone east of here stays safe.
Saturday, August 23, 2008
Another Reading List Linky
We look at a lot of research (directly or indirectly) in the FINC 5133 course. One of my favorite places to find free papers is SSRN, linked on my homepage and here, as well.
McKinsey on Finance
Something I've encouraged my MBA/MS students to read for a few semesters now is the McKinsey on Finance series, which is available free on the McKinsey & Co. Web site. Unlike most free things, this one is quite worthwhile. Here's a link
Convocation is coming!
Just got the announcement that Convocation will be Sept. 19, pretty much all day. Convocation at UHCL is a day for everyone to come together and recognize what we have here and how unique it is. Jim Hayes, former Provost, started it a few years ago and it's always successful. We'll have lots of staff and faculty there, and I imagine students can attend if they contact the provost's office. I'll write more when I find out the specifics.
UPDATE:
Convocation will be a half-day, with presentations by Provost and VP Carl Stockton and the marketing firm that UHCL hired in the Spring. Should be interesting. Also, we'll get free food (but you have to RSVP to someone I think).
UPDATE:
Convocation will be a half-day, with presentations by Provost and VP Carl Stockton and the marketing firm that UHCL hired in the Spring. Should be interesting. Also, we'll get free food (but you have to RSVP to someone I think).
Friday, August 15, 2008
Getting ready for a new semester
Things will be kind of sketchy next week, as we tear down the old to make room for the new. New semesters are kind of exciting, but this one even more so since I'll be teaching FINC 5133 on Wednesday night, and two sections of Financial Institutions on Monday. Yippee.
Monday, August 4, 2008
School Closed for Eduardo
As of 3 PM this afternoon, we're closed until Wednesday due to the tropical storm out there. My tests will be given on Thursday, or Monday at the latest (if we aren't open Thursday). The official emergency number at UHCL is 281-283-2221, and the emergency website is
Good luck to everyone, and see you soon.
Tuesday, July 29, 2008
Last drop date
Things have been hectic the past few weeks, with school going and all. This summertime stuff isn't very fun most days. If it gets to be too much for you, the last drop date for the 2nd 5-Week term is August 1st (this Friday).
Sunday, July 13, 2008
Second 5-Week Session Starts
Tomorrow marks the beginning of the 2nd 5-week session for UHCL, and it runs through 8/14. I will be teaching two undergrad classes, Business Finance and Contemporary Financial Institutions.
Monday, June 30, 2008
Help for those in need
Did you know that the Dean of Student's office has set up tutoring for some of the harder courses on campus? It seems that folks were having trouble, so Dr. Jenkins went and recruited some students to help out. Check out the Student page at uhcl.edu for more info.
http://prtl.uhcl.edu/portal/page/portal/HOMEPAGE/Students_Tab
Of course, don't forget that your professors usually have lots of office hours each and every week. Tutoring is OK, but you should try to work with the prof first -- after all, teaching is what we do.
http://prtl.uhcl.edu/portal/page/portal/HOMEPAGE/Students_Tab
Of course, don't forget that your professors usually have lots of office hours each and every week. Tutoring is OK, but you should try to work with the prof first -- after all, teaching is what we do.
Thursday, June 26, 2008
Updated School of Business Web Site
I hope folks like the newer, more accessible Web site for the School of Business at UH Clear Lake.
http://prtl.uhcl.edu/portal/page/portal/BUS/NewBUS/index.html
Dr. Robert Hodgin has worked very hard on it for a few months now, and the new provost (Dr. Carl Stockton) has made UHCL's Web presence an obvious priority.
http://prtl.uhcl.edu/portal/page/portal/BUS/NewBUS/index.html
Dr. Robert Hodgin has worked very hard on it for a few months now, and the new provost (Dr. Carl Stockton) has made UHCL's Web presence an obvious priority.
We shall redouble our efforts, Lord Vader.
Yep, just like the guy in charge of the 2nd Death Star, we're "redoubling our efforts." Efforts to bring folks a better MBA, a better education in general at UHCL, are continuing. It's not like we expect a visit from Emperor Palpatine, though.
I wanted to start a blog that would give me a place to write about UHCL stuff. I'll post as often as I can.
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