Andres Oppenheimer, Pulitzer Prize co-winner and acclaimed author, will be present in a special guest lecture that is part of Texas A&M International University's Inauguration Celebration for President Dr. J. Charles Jennett.
The Oppenheimer Lecture will take place tonight, Friday , November 1st at 6:30 pm in the Great Room of the Sue and Radcliffe Killam Library. The lecture is hosted by the College of Arts and Humanities. It is free of charge and open to the public.
Dean of the College of Arts and Humanities, Dr. Jerry Thompson, said the College is honored to have Oppenheimer present as a part of the special events planned for the University's inauguration of President Jennett.
"Oppenheimer is considered by many to be the most respected journalist currently reporting on Latin American affairs. It seems most appropriate that our University, with its international focus on education, have him present as part of our Inauguration Week observance." Dr. Thompson said.
Prior to his appearance at A&M International, Oppenheimer will participate at a book-signing at BookMark Books from 3-5 pm.
In 1987 Oppenheimer shared the Pulitzer Prize for reporting that helped uncover the Iran-Contra scandal. He is the author of Castro's Final Hour and Bordering on Chaos: Guerrillas, Stockbrokers, Politicians, and Mexico's Road to Prosperity.
Oppenheimer is the senior Latin American correspondent for the Miami Herald.
By: Jaime F. Alvarado
Construction for the second of four planned phases is nearly complete at Texas A&M International University. The new buildings will add to the steady growth that the university will experience in the coming years. Two administration buildings plus a kinesiology center are almost ready for student use. These facilities are being built to provide greater accessibility to students wishing to continue their education here.
The first building, Dr. F.M. Canseco Building, is the Nursing and College of Science and Technology Complex. The first floor is to contain nursing labs and classrooms. Classrooms and faculty offices are to be located in the second and third floors. The unique aspect of this building is to be found on the second floor: an art studio and a video/TV classroom for editing, cameras, and distance learning.
The second building, Anthony J. and Georgia A. Pellegrino Hall, is the College of Business Administration. The first floor will consist mainly of lecture halls, classrooms, and seminar rooms. The second floor will have two computer labs as well as seven classrooms and two faculty office suites. The computer labs in this building will fulfill many student demands.
The greatly anticipated Kinesiology/Convocation Center will seat about 1500, and will consist of two levels. The lower level will house a lobby for receptions as well as a basketball court. The court may be used for other floor activities such as volleyball. The bleachers in this court will be powered electronically and will recess back into the wall. There will be a weight training room along with many other exercise rooms. The east side of the complex will be equipped with showers and lockers for men and women, while the west side will support General Admini-stration Offices. Kinesiology classrooms will also be present in this building. A Student Lounge with vending machines will be on the east side of the upper level.
As you can see, TAMIU is looking to expand and offer more to its students. The College of Business Administration and the Kinesiology/Convocation Center will be ready by the start of Spring semester in 1997. The College of Science and Technology will be set for use by March of next year. Just as Phase II is drawing to a close, work on Phase III is about to begin. The Ground-breaking ceremony for the new student apartment complexes is scheduled for November 1, 1996. There are many good things coming to TAMIU and we, as students, play a major role in the development of this university.
I am writing to draw attention to the most under appreciated group of people on our campus: the faculty. I do not presume to speak for all students, but in my experience, the dedication of our professors surpasses reasonable expectations of scholarly commitment. Let me tell you why.
Many faculty members have become more involved in campus groups and activities than the students have. Let me point out that events and campus organizations are set up to serve and educate the students; they simply increase the workload for faculty. Despite this obvious fact, students whine and complain every day about the professors, while refusing to become part of the university community. It is time for students to look to the example set by the faculty, to appreciate their efforts, and to increase the value of their education at this institution through hard work and greater personal involvement.
We, as students, should also be grateful to the numerous professors who go out of their way to make themselves accessible. There are many demands placed on faculty members, such as research commitments, service on committees to enhance educational opportunities, and community service obligations, which are all in addition to their teaching duties. A large number of our faculty members could command greater salaries and lighter workloads by seeking employment in the private business sector, yet they have chosen to share their vast knowledge with us. They are a very busy group of individuals, much the same as students are, yet they consistently take time to provide one-on-one assistance to those of us who need it, and to offer us a meaningful education by giving of their time and wisdom.
I would like to take this opportunity to urge students, the next time they become disgruntled, to consider the sacrifices of our dedicated faculty and compare them to their own. If you feel justified, take your issues into the proper forum.
Speak to your professor, get involved with a campus organization, write to the school newspaper, or attend meetings and lectures that will nurture your personal growth. If the fault is your own, work harder and take advantage of services offered by the talented group of individuals that make up our faculty. Academic freedom for university professors, and the opportunity to learn from the caliber of scholars we have been fortunate enough to attract to our campus facility, are among the most treasured aspects of our system of higher education. We have an obligation to actively participate in, and promote, the institution that makes them available to us.
The faculty, and their commitment to preparing us for the future, are critical to the success of this campus. The student body, as a reflection of the efforts made by our professors, must carry that success into the outside world as a symbol of the fine university at which we were educated. We are, after all, the finished product by which TAMIU will be judged. The dedication of our faculty must, therefore, be supported and properly represented, both now and upon graduation. Together we must all work hard to make this an institution to be proud of.
Sincerely,
Laurie Trusky
I've simply got to say that during the past few months being at TAMIU has been like being a kid in a candy store. As part of the library's efforts to serve students, the Killam administrators solicited from all faculty lists of texts that we believed central to our particular fields and necessary for a vital research library. Almost daily I receive acknowledgments from the library staff that tell me which of the books I suggested have arrived and have been shelved. The library grows before our very eyes.
I recognize, of course, that many of the titles might not be of interest to all students. (Some aren't really that interesting to me.) And, although these are not new books, many are classics. There are some real treasures being added daily to the library collection and I'm not sure there is a vehicle by which students can be made aware of these titles. I'd like to suggest that with each issue The Bridge--in its never-ending quest to keep the University community informed--seek out a faculty member who will highlight some of the new acquisitions that might be of interest. And, because I think it's such a great idea, I'll volunteer the first list.
The books below might be of interest to any student, faculty member, employee, or citizen with a yen for Women's Studies:
UNDERSTANDING THE GENDER GAP: AN ECONOMIC HISTORY OF WOMEN IN AMERICA BY CLAUDIA GOLDEN
WOMEN'S LEGACY: ESSAYS IN RACE, SEX, AND CLASS IN AMERICAN HISTORY BY BETTINA APTHEKER
THE DAUGHTER'S SEDUCTION: FEMINISM AND PSYCHOANALYSIS BY JANE GALLOP
CLAIMING THEIR LAND: WOMEN HOMESTEADERS IN TEXAS BY FLORENCE c GOULD AND PATRICIA PANDO (ORDERED BY THE ASTUTE AND SUPPORTIVE DEAN OF ARTS AND HUMANITIES, DR. JERRY THOMPSON.
I urge all students to take a gander at some of these books. Education only begins in the classroom. Students have to take it to the streets (of Laredo).
Yours truly,
Dr. Jeri Kraver
Assistant Professor of English
By Timothy J. Kennedy
Editor-in-Chief
Several days ago, I was embarrassed, disappointed, and disgusted with our whole TAMIU community. I would not have cared to have visitors that day, since we had no feasible excuse — it wasn't like we had the Rolling Stones in concert the night before. This campus was trashed.
Soda cans, foam cups, corn chip bags, etc. were simply left where they lost value as a container. And it does not stop there on the "Green." The classrooms usually have those unpleasant reminders of other people — their waste. Is this the way to encourage other students to want to come here? encourage benefactors to contribute to our university? would your future employer be impressed? is this how you live at home?
Yes, we do have a custodial crew that cleans up our campus — I'm sure they are impressed with our lack of personal responsibility.
There are trash receptacles available. Let's use them. Let's remind others to use them. When perhaps we have accomplished this first step in our social education, then we may venture into recycling and higher math more effectively.
* * *
If we are the future of this university, this community, then we, the students of Texas A & M International University, need to establish and enforce our own honor code. We do not have a tradition of cheating or plagiarizing, and we do not need to start one. We need to establish our own standards. We need to define what is acceptable and what is not acceptable, then we need to define the consequences of unacceptable behavior.
Most of us do not cheat. Most us have our own honor code — called a conscience— and we need to insure that all others respect our standard. West Point and Annapolis have had their scandals, and they have an honor code and supposedly the discipline to adhere to such standards. We need to insure that our time and financial investment in attending this university does not go to waste.
I don't care to have TAMIU known as "the place where cheaters prosper."
Part of establishing a student honor code is to work through the system.
There are the usual excuses and retorts from both sides: too much work, too little effort.
Let us get beyond this and discuss an honor code, as well as, for instance, which classes are best suited for the long semesters and not suited for the shorter summer sessions, or perhaps whether the two summer sessions should be combined in to a longer summer session.
Time, self-respect, and honor are valuable resources and we need to manage them. It is a fact that insufficient resources do not allow for maximum performance ( and don't think that was directed towards the administration), but we, as individuals, need to manage our time, respect our environment, and earn trust as we take into consideration what we can and will dedicate to our education.
Editor's Note: This newspaper will not endorse any candidate. This article is a summary of the research conducted by several students on the campaign issues.
Pro- or Anti- Flat Tax
Both presidential candidates agree that there should be a tax cut, but their views on how to cut taxes differ. Bob Dole supports a flat tax that will replace income tax. Bill Clinton, on the other hand, opposes a flat tax but support a middle class tax cut.
Bob Dole's plan is to propose a drastic tax cut. Dole's proposal includes a tax cue of 15% and a $500 per child tax credit for couples earning less than $110,000 a year. Dole believes that moving to a flat tax system will reduce most tax returns to a simple postcard making April 15 far less of a nightmare to taxpayers. Although many voters feel that a flat tax will mostly benefit the rich, Dole argues that a flat tax will lower taxes for many wage earners, and kick-start the economy. Dole's proposals will not benefit some taxpayers. The $500-per child tax credit, for instance, seems unfair to childless taxpayers. This per child credit will not benefit low-wage families who do not earn enough to pay taxes. In addition , Dole is proposing to cut earned income-tax for the poor. Dole's proposal seems promising but many voters argue that his past votes reveal that he is for tax increases. For example, Dole has voted for 19 tax increases in his 35 years of Congress. Dole retorts, "I've voted for sixty tax decreases." While Dole proposes a very promising tax cut, Clinton feels that there should be more focus on the middle class.
Bill Clinton's proposal includes a tax cut for the middle class, a $300 per child tax credit and a $10,00 annual tax deduction for education expense. Clinton believes that the middle class is the group that needs a tax cut. He responds to the Republicans plan by saying:
While making such devastating cuts in Medicare, Medicaid and other vital programs, this bill would provide huge tax cuts for those who already the most well off.
For this reason, Clinton opposes a flat tax because he believes it will mostly benefit the rich who do not need a tax break like the middle class. Clinton's per child tax credit is for families who have children under age 13 and earn under $75,00 a year. This is the most expensive item in his package because 63 percent of families are potentially eligible, though some earn too little to be subject to taxes. The tax deduction for post- secondary education expenses, including college and vocational training, will benefit families earning less than $100,000 a year. Many voters feel Clinton's proposal is too little and too late because Clinton promised a tax credit in his 1992 campaign, a promise on which he did not follow through.
Today's Welfare Reform
Of many of the debates on issues they have had, Welfare Reform has been one of the most important issues they both have faced. Senator Bob Dole and President Bill Clinton differ in many ways on this issue. In particular, they differ on the specific issue of what to do with the people on welfare.
The Republican Party nominee, Senator Bob Dole, has his own plan for the welfare system. He favors ending federal welfare and job programs and giving the money to states. This will allow them to set their own eligibility and benefit levels. Dole also wants to freeze grants for five years at the 1994 levels and set a five-year lifetime cap on welfare for each recipient. Because of this, single teenage mothers will have to live at home and stay in schooling, allowing them to receive the education they need in order to survive in today's world. According to Senator Dole, "My economic vision for American is one of lower taxes, less intrusive government and more economic freedom - all of which will produce a stronger economy. A stronger economy will then increase job and investment opportunities and decrease the amount of people on welfare." Sen. Dole wants to increase the self-esteem of many of the people who are on welfare. He sees the positive side of the issue. He believes that most people are on welfare because they are afraid of facing the real world of today.
President Bill Clinton, on the other hand, has a different view of welfare reform. He signed a bill that he believes, "will break the cycle of dependency for millions of families by imposing strict time limits and strong work requirements." This will allow the states to take the money that was spent on welfare checks, and use it to help businesses provide paychecks. With his welfare plan, President Clinton wants to help businesses hire people on welfare for the long run, so that they can become permanent members of the workforce. According to his plan, all Americans share a responsibility to see that jobs are available, so that people can leave welfare for good. Business should be given a tax credit for every person hired off welfare and kept employed and private jobs should give placement firms a bonus for every welfare recipient they placed in a job who stays in it. It has been stated that during Bill Clinton's term in office, 10.5 million new jobs have been created. More than 2/3 are in high-wage categories and 90% are full time jobs. According to President Clinton, "as of right now, we have the lowest unemployment rate in 7 1/2 years."
Clinton's and Dole's Proposal for 1996 Presidential Elections
Higher-education is one of the important issues in which President Bill Clinton and Senator Bob Dole differ.
President Bill Clinton has many ideas about how to improve higher-education. Peter Brimelow writes that, President Bill Clinton wants to spend more of people's money on the higher-education industry. However President Clinton says . "Our goal must be nothing less to make the 13th and 14th year of education as universal as the first 12th are today." Therefore, he proposed a two year, $1,500 annual tax credit for students in college as well for families with insufficient taxable income.
President Clinton believes that in order to have a better higher-education, money needs to be invested. Where in programs such as: Heads St. and Goals 2000 provides comprehensive services for disadvantaged children, ages three to five, and their families, Goals 2000, is a plan to help improve school efforts, by raising academic and occupational standards, improving teaching and expanding the use of technology. Both programs allow disadvantaged children to have more opportunities learning and to become familiar with today's modern technology. This are President Bill Clinton's ideas for a better and higher -education.
Senator Bob Dole also has many ideas about how to improve higher-education. Lisa Guernsey in Chronicle of Higher Education writes that Senator Dole promised that if he were elected, all American children would be able to "count on being able to afford a good college." Dole says, "All American children should expect to learn the nation's history and democratic values and study the classics of Western civilization." Senator Dole believes that children are not being taught well, and students are not learning anything.
Senator Dole thinks that Americans are spending more on education and getting less. According to a study by the National Assessment of Education Progress, two out of every 17-year-olds do not know that World War II was fought sometime between 1990 and 1950. It also reports that 20 percent of high school seniors are functionally illiterate. Senator Dole argues that "just throwing money at the problem is not the answer." IN the past 30 years, spending on education has doubled, yet average SAT scores have dropped over 50 points. Moreover Senator Dole will not spend more of people's money for a better higher-education if students are not learning or are being taught well.
Education Hot Topic
As the Presidential elections approach, people are expecting the candidates to address the issue in improving the nation's education system. In the issue of education in America, Bill Clinton and Bob Dole offer different philosophies to improve higher education.
Bill Clinton has many ideas about how to improve education. He believes that education could be improved by raising funds for all American students. According to The Chronicle of Higher Education, "not all Americans are able to benefit fully from their education. Clinton considers uncertain funding and inadequate resources to be the greatest weakness in American education." President Clinton believes that every American student should have an opportunity to continue in higher education. Although college tuition is on the rise, Clinton wants to increase funding to encourage students to continue their education. He believes that funding is essential Bob Dole, on the other hand, has a different idea.
Dole has a different philosophy about how education can be improved in the U.S. Dole's view is that a good education comes more through discipline than from increased spending. Dole believes, "The lesson the government has learned is that educational success does not necessarily depend on the dollars spent; it depends on what is being taught, how it is being taught, and demanding that students meet high standards." Dole simply suggests that money is not a way to solve problems. At issue is the way students are taught. The government is wasting money on students who do not accomplish their goals in their education.
American Environment
To find an efficient president, voters need to review their candidate's positions on important issues concerning the environment such as the "takings" legislation, the Endangered Species Act," and the Arctic National Wildlife Refuge.
The "takings" legislation was introduced as part of the Republicans' "Contract with America," It is legislation that "requires payment if federal environmental regulations reduce values." In a recent interview, Clinton was asked whether he supported the "takings" legislation. He immediately responded with a stern "No," arguing that the "takings" legislation would consequently cost taxpayers tens of billions of dollars and weaken safeguards for public health, safety, and the environment. Senator Dole when asked the same question, replied with a simple "Yes," noting that he sponsored the legislation.
Another issue central to the environment is "The Endangered Species Act" of 1973. This act helps to protect and conserve endangered species and the ecosystem on which they depend. President Clinton strongly opposes changing this act arguing that it "embodies values important to all Americans and we must maintain our commitment to protect our nation's priceless biological heritage." Clinton believes that heritage should be maintained to further develop the countries environmental standards.
Senator Dole supports the rewriting of the Endangered Species Act, limiting the space set aside for endangered species conservation.
The last of these important issues is the Arctic National Wildlife Refuge. Recently, oil exploration and drilling have been debated due to the concern of the preservation of its immediate environment. President Clinton recently stated that, "the Arctic Refuge is rare, pristine wilderness that should be preserved for future generations. There are substantial state and federal lands that can be developed in Alaska without disturbing the refuge. And since there is more oil in energy efficiency that can be extracted from the Arctic Refuge, drilling is unnecessary as it is unwise. President Clinton clearly advocates the preservation of such wilderness and is threatening to veto the GOP bill to authorize exploration. Senator dole believes that exploration and drilling "can be done safely and responsibly without damage to the environment, because careful development of Americas oil and natural gas resources contributes to economic growth, creates American jobs, enhances our national economic security and reduces dependence on foreign oil." Senator Dole supported his view on oil exploration and the American people as his reason to further exploration.
Clinton, Dole on Welfare Reform
They have similar ideas about some aspects of welfare reform, but they also have their differences of opinion.
Creating jobs for people on welfare is one idea on which Clinton and Dole agree. Clinton's plan would require welfare recipients to work after receiving benefits for a certain amount of time. The businesses who give recipients the opportunity to work for them in order to better themselves by getting off welfare will receive the former "welfare money" to use for the paychecks. Dole also wants welfare recipients to make a move from welfare to work. His plan is similar to Clinton's, although he would grant individual states their own work programs.
Tax cuts designed to ease the transition from welfare to work are part of both plans. Clinton's plan includes "a $1,500 tax cut for the first two years of college and a $10,000 deduction for all college costs." Dole believes that to attain a stronger economy, taxes need to be lowered. This will cause for jobs to rise and create "investment opportunities for all." The extra money, in both cases, can be used to pay for child care and transportation.
Access to welfare benefits by drug-users is an issue of disagreement in the welfare plans. Clinton's 1994 welfare proposal allows drug-users to receive welfare benefits. Dole believes that people should be denied welfare benefits if they are on drugs, although this in not officially a part of his plan.
State control over welfare is also an issue of disagreement. Clinton's 1994 welfare proposal burdens the welfare program on the Federal Government rather than on the states themselves. Dole wants welfare to be taken care of by the states, not the Federal Government.
Abortion: Creating Rivalry in the Presidential Elections
The two main presidential candidates, Bill Clinton and Bob Dole represent different views on abortion. Clinton, like society, and Dole, like Christianity, disagree with women having the choice to have an abortion. Yet, they do agree that abortions should be allowed if the woman's life is endangered, or if she is an incest or rape survivor. However, the issue of partial birth abortions has added to the rivalry between the candidates.
As a pro-choice advocate, Bill Clinton believes women have the right to choose to have abortions under any circumstances. While other people may consider abortion acceptable only in cases of endangerment of the circumstances. Besides the common reasons for abortions, the issue of partial birth abortions is a very controversial subject both candidates' campaigns. Misunderstood by some people, partial birth abortions are abortions that occur in the 7th , 8th, and 9th month of pregnancy. They are extremely rare and are performed not only when the life of the woman is endangered, but if risks to her health may leave her physically disabled after birth. A recent bill prohibiting partial birth abortions except to save the life of the mother was vetoed by the President because id did not consider endangerment of a woman's health a reason for partial birth abortions. Thus, Clinton's veto of the bill shows his support for partial birth abortions. Although some of Clinton's views on abortion overlap with Dole's views, distinct differences can be found.
Unlike his opponent, presidential candidate Bob Dole is a pro-life advocate, yet he believes there are some exceptions in which a woman's life, incest, and rape viable factors that constitute abortion as a woman's choice. In contrast to his opponent's support for partial birth abortions, Dole not only disagrees with Clinton, but he questions the morality of abortions, Dole criticizes the President's veto by saying he pushed the limits of decency too far' by vetoing the bill. Even though Dole disagrees with the banning of partial abortions, he does support such abortions only in cases where the woman's life is endangered.
Election 1996
The issue that is often overlooked is the of advertising. Not advertising in general, but that of "controversial" issues, such as hard liquor and tobacco. This is seldom mentioned in the race for the White House in 1996.
President Clinton has a strong stance on the advertising of controversial products. For example, Clinton has proposed the restriction of billboard around or near schools which advertise tobacco products. President Clinton quoted as saying, "Young people are barraged constantly by messages that glamour and grit can be found in a package of cigarettes... We must act more strongly to make cigarettes less accessible and make children less subject to the lures of the advertising."
Senator Dole recognizes the need to regulate controversial product advertising; but he is less specific on tobacco products. One of Dole's main sources of campaign funding is the tobacco industry. Dole simply can not turn his back on his contributors. Dole states, "We know smoking is not good for kids, but a lot of other things aren't good. Drinking is not good. Some would say milk's not good." Dole recognizes that smoking is harmful, but does not support his stance on tobacco advertising with proposed reforms. Since the advertising topic is now in the spotlight, the candidate whose stance on the issue is strongest, will have the advantage come November.
material compiled by:
Gerardo Garcia
Alex Garza
Olga Guzman
Nancy Ibarra
Joann Longoria
Lara Mardiros
Elias Jaime Montemayor
Araceli Ramirez
Elizabeth Ruiz
Kika Sanchez
Ricardo Sanchez
And a special thanks to Dr. Jeri Kraver!
by Stephanie A. M. Smith, Department of Economics and Finance
The following is a list of suggested readings for students interested in finance including the areas of banking and the management of financial institutions, corporate finance, and investments. These recommendations may take the following three forms: (1) textbooks that may also serve as reference books; (2) journals, periodicals and newspapers that may offer more current (and often complicated) information; and (3) pure (non-textbook) reference books. To provide substance to my recommendation, I have attempted to provide a brief description (justification) for each suggestion.
In the area of banking and financial markets, the following readings are suggested:
Bank Management by Timothy W. Koch (1995). This textbook gives a thorough description and explanation of the activities of and forces affecting commercial banks.
International Finance by Maurice D. Levi. This textbook offers a comprehensive examination of the instrument- and market-related considerations and historical issues and consequences of international trade financing.
World of Banking. This practitioner-oriented periodical provides timely information and real-life applications of the material discussed in the textbooks and reference books.
Euromoney, the Wall Street Journal, Barron's, the Financial Times, and Latin Finance. These daily, weekly and monthly publications are several of the principal sources of work-day information for both practitioners and academicians in any area of the field of finance.
Federal Reserve Bulletins, Publications and Websites. Each Federal Reserve District Bank offers one or more monthly bulletins and research publications. Most of these bulletins and publications are available free of charge to individual subscribers, and are available in either paper- or electronic-form in the TAMIU library. Several (but not all) of the District Banks also maintain websites that provide access to their research publications and working papers. They also list employment opportunities and positions.
Global Financial Services by Roy C. Smith and Ingo Walter (1990). This reference book provides a comprehensive overview of the international and securities industry.
In the area of corporate finance, the following readings are suggested:
Managerial Finance by J. Fred Weston and Thomas E. Copeland. This textbook provides a thorough review of the fundamental concepts and techniques of corporate finance (e.g., financial analysis, time value of money, capital budgeting, working capital management, asset valuation and cost of capital considerations, and other special topics).
The Treasurer's Handbook of Financial Management by Dubos J. Masson, John G. Oros, Michael J. Flagg and Basil P. Mavrovities (1995). This handbook provides a comprehensive overview of the essential elements of treasury management and is written to provide practitioners with a step-by-step application of the theories, concepts and quantitative methods of treasury management (including cash, marketable security, credit and disbursement management, electronic and commerce and electronic data interchange).
Financial Management. This academic journal has a large practitioner readership. It is unique among academic finance journals in that it offers readable articles that are excessively quantitative in nature only when the material so requires. It is the journal of the Financial Management Association, the trade group for finance professors and interested (related) practitioners.
Corporate Finance, Corporate Cashflow, the TMA Journal, and the Journal of Corporate Finance are practitioner-oriented journals that address topics applicable to some facet of corporate finance. Several of these publications are available in hard copy in the TAMIU library, while others can be accessed electronically through either the Texshare database or the full-image CDS in the TAMIU library.
In the area of investments, the following readings are suggested:
Graham and Dodd's Security Analysis by Sidney Cottle, Roger F. Murray and Frank E. Block (1988). This is the practitioner's classic investment "bible." It provides a review of the principles and techniques of financial asset valuation and financial statement analysis. Its self-claimed intended audience is the individual investor, security analyst, portfolio manager, broker/dealer, investment banker, and/or credit officer.
International Investments by Bruno Solnik (1993). This textbook is a mainstay in a course on international investments. It addresses the issues of international versus domestic diversification, the characteristics and essential elements of debt and equity markets and instruments, foreign exchange, derivatives and international performance analysis.
The same recommendations regarding the reading of the Wall Street Journal, Barron's, the Financial Times, Euromoney and Latin Finance apply to readers interested in the area of corporate finance and investments.
by Mike Crilly
The United Kingdom in conjunction with Western Europe is moving towards real time payment systems. People and corporations are no longer willing to wait several days for cross-border transactions to clear through traditional networks. Corporations require multi currency liquidity management and investment capabilities. They must be certain that all payments that are supposed to be collected have been collected, and in a timely manner. Once funds have been collected corporations want the ability to put that money to work quickly. Corporations need the ability to bank seamlessly through out Europe. They require timely information at known costs and reliable payment schedules. Consumers also want the ability to transfer funds across borders in real time.
Along with customers banks also have central banks pushing banks to provide real time settlement in order to reduce the system risk of international transactions (ala Herrstadt). The SWIFT system has the technical ability to provide rapid movement of messages through it network. But, posting by member banks takes several days.
A number of alternative payment systems have been formed by banks to provide quick payments for their customers. Some examples in Europe include Relay, Tipa-net, Eurogiro, and IBOS-the Inter-Bank Online System.
IBOS was created by Banco Santandor, of Spain, and the Royal Bank of Scotland in 1991. The two banks created the technology and hired Britishtelecom and MCI to build a network that would allow the banks to send fund to and from customer accounts between the banks. In 1995 Chase Manhattan bought a majority interest in IBOS. With its broad band width IBOS is capable of handling electronic commerce, digitizing, imaging, stored value cards, and other emerging technology including interactive capabilities.
The IBOS system currently includes banks in Spain, the United Kingdom, Portugal, France, Belgium, Denmark, Italy, and the Netherlands. IBOS is in the process of expanding to include one bank in each European Union country, and then to include major international markets.
Treasury management can be greatly enhanced by the use of networks like IBOS, transferring funds between accounts at banks within the network is as easy as transferring funds between accounts at the same bank. The treasury manager can also check up to twelve accounts with in the network with one request. IBOS also maintains accounts with the local clearing house in each country that IBOS operates in, allowing account holders to make transfers between IBOS and nonIBOS accounts. This permits customers to pay international suppliers as easily as domestic suppliers. Payments can be made in the local currency of any bank in the network.
Customers can access their accounts directly from their home or office. The cost of using the IBOS system is in line with the standard rates published at the local bank. Security of the system is channeled through a complex and efficient coding and validation system to ensure the confidentiality and integrity of the data transmitted.
Dr. Jan A. Berg-Andreassen, Graduate School of International Trade and Business Administration TAMIU will have two papers published in the fall edition of the Maritime Policy and Management magazine. Dr. Berg-Andreassen has years of experience in the maritime industry which enables him to convey the importance of understanding maritime economics and vessel usage to students.
Modern management techniques are slowly but surely being introduces also in shipping management. Large sections of the industry practices strategic management at various level in the firm. This paper outlines a method for deciding chartering strategies in the international bulk shipping industry. A well known risk/return model, is tailored to transportation contracts in the shipping industry. The model delineates a set of optimally defined transportation contracts that should serve as a basis for the shipowner's strategic decisions. The strategies and elements of strategies suggested by the model have historically been practiced by a number of successful shipowners. An important conclusion of the paper is that there exists no second best problem and hence movement towards the solution is advocated even if the optimal solution can not or will not be reached. Additionally, the paper provides an organized way of crafting, analyzing and applying chartering strategies. Furthermore, the outcomes can be clearly defined and analyzed based on well known statistical concepts and theories.
This paper tests two fundamental hypothesis concerning international maritime statistics. The first one deals with the question of stationary or stability of the maritime markets statistics. The second hypothesis is the assumption that the international maritime statistical time series are not distributed accordingly to a normal or Gaussian probability law, but rather belong to the same family of distributions with distinctly different critical parameters. Through well documented statistical methods, the paper concludes that the international freight rates observed on a day to day basis are generated by a random walk process. The paper finds that the shipping industry's conventional wisdom is essentially correct. "Last done" is as good a forecast of tomorrow's freight rates as any other generated by more sophisticated forecasting methods. Furthermore, freight rates and second hand tonnage prices fluctuate closely together. The freight rates are generated by stochastic processes fully described by the Paretian family of distributions. The critical parameters of these distributions, the characteristic exponents, are such that the risk conscious ship operator can indeed reduce his exposure to the risk by securing a correct set of freight rate contracts.
Acknowledgments:
The author wishes to express appreciation to Jan-Rune "JR" Berg-Anderson for excellent research assistance during the preparation of this paper.
If you can't even imagine how to pronounce my name, don't panic. I've an American one, "Paddy"! Well, I am a graduate student pursing a business masters in International Trade. I am from India and am pursuing a doctoral program on the "Political Economy Of Sustainable Growth and Development: A Comparative Study of Germany and India, 1987-95" at Jawaharlal Nehru University, New Delhi, India. (My M.B.A. is suppose to be a break from my Ph.D.!) Through this article I would like to share with you all some of my learning experiences at TAMIU.
We, in India do not have an uniform educational setup. The quality of the schools vary from the very best to the almost useless ones. Hence the teaching-learning process also vastly differs. Most of the schools emphasis more on theory and less on application. One has to make it to the best schools if one wants to learn the application part of it. Here at TAMIU, in every class the students are encouraged to think of how to apply what they learn rather than to memorize the theory. The assignments and papers are all based on applications (a classic eg. is having to dress up as statistical techniques and explain that technique for the Halloween!) The ambiance in the class is very casual and friendly. And most of the time learning is fun (if you are regular on your home works, that is!)
DISSERTATION
PRE-DOCTORAL
Title: Differences in Environmental Perspective of European Community Member Countries: A Case Study of Germany and the United Kingdom, 1973-93.
Abstract: With the end of the Cold War, the focus of international relations has shifted from confrontation to co-operration. The European Community, as the only supra- national organization o f its kind, where the member states have voluntarily surrendered a part of their sovereignty over areas of policy making, gain more significance in this context. One of the major focus of the EU countries is environment. The main objective of the study was to make an empirical study of the approaches to the evolving environmental dimension of national/international policies and the major objectives of the study were (a) to understand the environmental policy of European Community in terms of the Community Institutions and its policies, (b) to look into and analyze the differences and similarities in the policy approaches among the Community members, especially those of Germany and the United Kingdom and (c) to study the influence on the policy framework by various factors like geo-physical position, system of government, the electoral system, pressure groups, public opinion and the level of technological advancement.
DOCTORAL RESEARCH PROPOSAL
Title: Political Economy of Sustainable Growth And Development: A Comparative Study of Germany and India, 1987-95.
Synopsis Abstract: The establishment of the United Nations Commission on Environment an Development in November 1983 symbolized the universal acceptance and importance of the need for growth and development to be sustainable. The acceptance of a new integrated outlook of sustainable development, as expounded by the Commission's report "Our Common Future", shed Light on the various economic and developmental parameters- that have emerged in the industrial West- as the indicators of development and growth.
The economic activities of both the free market and the centrally planned economies and their market forces for the past 50 years, have come under vehement criticism for their high degree of unsustainability. As the remedial measures to set right the above involve all spheres of national and international co-operation, it becomes imperative to study the policy frameworks and policy options of nations. The main objective of the study is to analyze the parameters of growth and development in the light of holistic approach of the UNED. A comparative study of Germany- as a representative of the industrialized North and India- as a mirror of the developing South is undertaken as the frame work of the study. The main objectives of the study are (a) to study recent liberalization of Indian economy and the unification of the German Democratic Republic with the FGR in the light of the concepts under study (b) at the global level state planning has become redundant. Privatization has replaced statism as a desirable path of economic growth and development.
Multinational Corporations are the vehicle of execution of this principle of privatization. Under the changed economic disposition, how would the principles of sustainable growth and development fare?, (c) to study the role of German multinationals in India in the context of liberalized economy and the kind of safeguards Indian Government must consider and (d) analysis has also to be made in the Indian context as to what extent conventional technologies have been producing environmental hazards and to what extent high tech industries would be problem free in this regard.
By Dr. Jeri Jewett-Smith
How is a "world-class" scientist made? What I mean by world class, is someone who's vision is clearer, has the ability to find the pattern among all the noise, and coherently communicate that pattern to her or his colleagues. In order to get some insight into this process, I have started a quest to read about great scientists. The first book I saw that seemed to fit this quest was the autobiography, "Naturalist", by E.O. Wilson ($11.95 paperback, Warner Books, 1995).
I have known about E.O. Wilson since my first course in ecology. He was the man who never outgrew his "bug period". Now, at 67, he is probably one of the world's experts on ant systematics (the study of how each type of ant is related to each other and to the other insects), the father of the study of sociobiology and a major proponent of saving the tropic's biodiversity. Yet his beginnings were very modest. His father, an alcoholic, separated from his mother when Wilson was very young. Wilson spent several of his young years in a military school, from which he says his discipline came. He moved very often with his mother and step-father, and never felt part of the crowd as a teenager. He became an introvert, who put his energy into study of the natural world around him (we'd call him a science "nerd" in the 1990's) He has a deep and abiding faith in God, grew up as a Southern Baptist and yet he is not a fundamentalist.
Evolution, the processes and tests of them, has been a major part of his work. From his early forays into the local southern habitats of piney woods and swamps, he gained a keen ability to observe the ecology and behavior of insects. He wasn't satisfied to just collects a few ants, he learned how to dig up whole ant colonies and transfer them to the lab. From his observations he began to put together the ideas of sociobiology: the behavior of ants, with their high degree of organization, depended upon their genetic programming. They were "hard -wired" by the traits passed on from their ancestors to behave in certain ways. Soldier ants foraged and protected the nest, the nurses cared for the queen and larvae, the males participated in nuptial flights, then died. He also learned about the chemical communication that made ant colony organization possible: trail markers, where food was and how much, which ants belonged to the colony and which didn't (and were destroyed), and when ants were dead and needed to be put into the refuse pile. Ants do all this communication by excreting and sensing chemicals, and Wilson was one of the first to find the glands that produced these chemicals.
Another part of the evolutionary whole that Professor Wilson worked on was the idea of island biogeography and species-area curves. He visited tens of islands and took meticulous notes on the types and numbers of individuals and species. From his studies of tropical islands, he saw that there were more species on larger islands, fewer on smaller islands. Was there some factor due to island size that allowed for a specific number of insects, mammals or plants? Knowing that the processes of new species landing on an island (immigration) and some species dying off (extinction) were constant, he was lead to ask if there was an equilibrium number of species? To test this, he and his student Dan Simberloff (now another "world class" scientist at Florida State University) worked on small mangrove islands in the Florida Keys. After counting all the insects on an island, they had a termite control company gas the island with Methyl Bromide. Then they censured the island on a regular basis to monitor the recolonization. What they found was that although different insects colonized and some of them went extinct on the island, eventually an equilibrium number of species was reached. They also found that on larger islands, the equilibrium number was larger. This species-area relationship has become very important when we now consider the appropriate size of nature preserves. Since preserves are essentially islands surrounded by lower quality wildlife habitat (grazing, agricultural, industrial or urban landscapes), size becomes important to how many species can be saved. The species-area relationship has come under fire recently, for lack of proof. Anti-environmentalists do not want to see large tracts of land set aside for endangered species for "just a theory". However, the meticulous quantification of scientists like Wilson and Simberloff make the theory very plausible and testable.
Wilson has also been a party to the great molecular revolution in science. As a young assistant professor at Harvard, one of his colleagues was James Watson, the codiscoverer of the structure of DNA. Wilson, being trained in the "old" type of biology (field study, collection and taxonomy) participated in the "molecular wars" at Harvard. Even though there was (and still is) much to learn and study about natural history, the reductionist view of many molecular trained people of the 1960's and 1970's was that all could be explained by the DNA code. People who studied ecology, evolution or systematics were considered lower class scientists. Funding for major ecological projects dried up. Ecology professors lost laboratory space to the new young turks of the molecular revolution. A new synthesis needed to be made, where the molecular and organismal sciences could be placed on equal footing. Mathematics stepped in to help. Wilson and other ecologically trained scientists began developing mathematical models to predict and test evolutionary theories like those from island biogeography, predator- prey relationships, and the niche (an organisms job, what it eats and what eats it).
Wilson is now one of the celebrities of nature films. You can hardly turn on the Discovery Channel or see a National Geographic film on the rain forest, without some commentary by E.O. Wilson. He has the ability to write both highly technical and elegant scientific papers and communicate to the popular reader his ideas. His work with trying to save the biodiversity of the world's tropical rain forests has lead to preserves being set aside. His graduate students have gone on to train the next millennium's ecologists and evolutionary biologists. Not bad for a poor kid from Alabama.
by: Lara A. Mardiros
The monotonous life we are familiar with seems to me the epitome of human existence. Since we, as humans, are habit forming creatures, we are easily caught inside a cycle that is eternally repetitive. Subconsciously we like the structured predictability of our lives. Yet, when the mind, heart, and soul unite, a taste of the air outside the mold entices us to drink life in. Yet, we ask ourselves how can we drink life in? How can we suck the existence, the energy, the vitality, and beauty beneath a breath inside a hollow body? At this moment we have become passionate beings for our awakening heeds inspiration; and what more does inspiration produce than passion?
Passion to fill a dozen souls compacts itself into one and he must search to release that passion for fear he may think himself crazy. Thus, he creates. He makes something so precious, so intimate with his bare hands. Exactly what his hands create is irrelevant to the emotions that surge through his hands like electricity through a wire. Time has no mercy with him; as with all who are in harmony with themselves. And when the passion has run out from its' medium he has used all his inspiration; thus, he returns to habit.
Yet, what is it that keeps us alive in the emptiness of our daily existence? What is it that drives us to live another day? What force pushes us to keep habit? Where is the sanity embedded inside us when we have experienced pure inspiration? What force? What feeling? What emotion? Love. Perhaps love drives each and every one of us to live life. Love is so perfect. It surrounds us like the warmth of the sun after the icy- coldness of a man-made building. Spiritual, emotional, and human love have the power to possess our earthly bodies with a breath of perfection, a glow of inspiration. Although love never ends, the remembrance soon fades. When it begins to slip like sand between our fingers our thoughts regress to what they once were.
Love drives us on. Love motivates us to live through pain and anger. Love. Why? For one moment in time we are complete beings. We are united and free in that moment of passion. Remembering the exhilaration and complete peace keeps us living one more day. Like a habit, we carry on our habits in search for perfection...love.