Business & Entrepreneurship

The School of Law’s 12th annual Public Interest Law & Policy Speakers Series continues Jan. 20 with the Dr. Martin Luther King Jr. Commemorative Lecture featuring John Payton, J.D., the director of the NAACP’s Legal Defense and Education Fund.

An international gathering of business executives will don caps and gowns for their graduation ceremony at the Olin Business School. Strobe Talbott, president of the Brookings Institution will deliver the keynote speech.

Human guinea pigs do their homework before volunteering for high-paying clinical trials. New research shows that people equate large payments for participation in medical research with increased levels of risk. And when they perceive studies to be risky, potential participants spend more time learning about the risks and nature of the study. Findings published this month in Social Science and Medicine, suggest there is a “mismatch” between current research guidelines for setting compensation levels and the assumptions participants make about the levels of pay and risk.

A record number of aspiring entrepreneurs entered 45 ideas for new ventures in the annual Olin Cup business plan competition this fall. As the race toward $75,000 in seed money enters its last stage, seven finalists are crunching numbers and honing their plans for the crucial final presentation to judges in January.

Seven entrepreneurs enter the final round of the Olin Cup business plan competition this month as they vie for $75,000 in seed money. Ken Harrington, managing director of the Skandalaris Center, co-sponsor of the Olin Cup, emceed the recent “Elevator Pitch” event where 17 semi-finalists had two minutes each to present their business plans. The teams presented privately in front of 16 judges, then presented publicly in front of an audience. Harrington said, “the judges, audience, and I were very impressed with the quality of this year’s pitches and ideas. We look forward to the next phase in the competition and seeing their full business plans.” Winners will be announced in February. Video report on the competition included.

GM releases its first quarterly results post-bankruptcy on Nov. 16. U.S. auto sales in October equaled an annualized rate of 10 million vehicles. That’s a steep drop from the 17 million cars sold each year from 1991-2007. Not even a robust recovery from the recession is expected to boost sales near previous highs. Bailouts, bankruptcies and cash for clunkers have helped keep the industry afloat this year. Yet, the reality of too many factories and workers remains as demand continues to dip. Supply chain expert Panos Kouvelis says auto makers need to keep the brakes on production and proceed with caution. Video available.

What happens when the CEO of one of the largest financial institutions in the world sits down to talk with MBA students? Olin Business School students had a long list of questions for Citi CEO Vikram Pandit when he visited recently. The discussion ranged from the financial crisis to reform, compensation to career choices. Pandit offered candid advice to the students with concerns about unemployment numbers and the loss of jobs on Wall Street.

Washington University has been awarded nearly $80 million in funding from the 2009 American Recovery and Re-investment Act to support research across a broad range of projects, including cancer, Alzheimer’s disease, renewable energy, diabetes and climate change.

“A lot of people were horrified that it was the first time a political scientist got the prize,” says Douglass C. North in a video interview on the 2009 Nobel prize in economics. North North, a 1993 recipient of the prestigious award, defends this year’s winners, Elinor Ostrom and Oliver Williamson, as pioneers in the New Institutional Economics that uses an interdisciplinary approach to research. Traditional economists who favor formal mathematical model-based theory are critical of the institutional approach and Nobel recognition of the social sciences versus pure economics. North talks about this year’s winners, their work and New Institutional Economics in accompanying video.

What do ripening pumpkins, sunspots and scratching dogs have to do with stock market crashes in the month of October? Just ask Washington University in St. Louis economics professor Stephen Williamson. He proposes three theories on why the stock market might tend to crash in October as it did so famously in 1929, 1987 and 2008.