UST in the news

Here’s a roundup of recent St. Thomas mentions of interest in various media. Read the stories by clicking on the links. Links do expire and change as papers move stories to “archive” status, and if links have expired, you’re welcome to purchase access to the stories or use a search engine such as Lexis Nexis, available on the UST Libraries’ Web site. In some cases, you’ll need to register on the publication’s Web site in order to access full text.

If you see a story about St. Thomas and would like us to include mention of it, be sure to drop us a note at bulletin@stthomas.edu.

  • "Financial Armageddon? Three local experts don’t think so," MinnPost.com, Sept. 16, 2008. "David Vang, professor and finance department chair, University of St. Thomas’ Opus College of Business: ‘My impression is the worst is over already.’ The markets, he explains, are forward-looking. Traders buy and sell based on what they think is going to happen the next day. So Monday’s trading already reflected investors’ fears about the future of AIG, the struggling insurance giant. Anything short of a worst-case scenario today should be enough to perk up traders, he believes. It’s not great news for an economy struggling to pick itself up, but the direct impact of this week’s Wall Street drama will probably be contained to Lehman Brothers employees and investors and negligible for the rest of us, Vang says. The financial panic was ignited when fears spread over the weekend that AIG and two other major financial institutions were on the brink of failure. Lehman Brothers declared bankruptcy, but the second, Merrill Lynch, found a buyer in Bank of America. The private bailout, Vang says, offset the Lehman news and showed that the financial markets can still function." http://www.minnpost.com/stories/2008/09/16/3538/financial_armageddon_three_local_experts_dont_think_so
  • Financial meltdown: Hyman Minsky warned us this would happen, MinnPost, Sept. 17, 2008. "The diving Dow, the implosions in bedrock financial institutions and a seemingly unending streak of economic crises have left economist Charles ‘Mel’ Gray pondering whether his doom-and-gloom dissertation adviser might have been on to something back in the 1970s. While working on his Ph.D. in economics at Washington University, Gray used to chafe under the direction of Hyman P. Minsky. Unlike the economists of the day who increasingly favored financial deregulation, the Harvard-educated Minsky believed that there was an "inherent instability" in unchecked capitalism, which in turn led to "recurrent bubbles or stampedes or over-exuberance," says Gray.’He pretty much just harped on the fragility of the financial system and the economy,’ recalls Gray, now a business economics professor in the Opus College of Business at the University of St. Thomas in St. Paul. http://www.minnpost.com/stories/2008/09/17/3542/financial_meltdown_hyman_minsky_warned_us_this_would_happen
  • "Schools search for potential," Star Tribune, Sept. 17, 2008. "We know they’re there. We know they’re equally gifted. They’re just not showing up,’ said Karen Rogers, a professor of gifted studies at the University of St. Thomas who conducted an audit for District 196 several years ago of all its gifted services. The problem, say Rogers and other educators, is that standard evaluations can’t account for all the obstacles faced by some children with exceptional potential. Some kids grow up with less exposure to books, numbers games and other enriching experiences that can translate into higher test scores. Others may struggle with English or have testing anxiety." http://www.startribune.com/local/south/28370859.html
  • "Target, Macy’s Roll Out Holiday Decorations," KQCA-TV, Sacramento, Calif., and more than 30 other sources, Sept. 18, 2008. " University of St. Thomas professor David Brennan said with a soft Christmas season expected, retailers are pushing the holidays earlier than normal. But he expects consumers will hold on to their pocketbooks and credit cards more closely than in the past." http://www.my58.com/money/17493414/detail.html
  • "Where the credit crunch hits hardest," St. Paul Pioneer Press, Sept. 19, 2008." ‘There are a number of big lenders … that have been informing borrowers that their line of credit is either frozen, suspended or restricted in some way,’ Mike Ryan, director of the Small Business Development Center at the University of St. Thomas said in a recent interview. Many of those lines of credit are tied to home equity, he noted, and have shrunk with declining home values." http://www.twincities.com/news/ci_10512999
  • "Temporary ban on short-selling put into place," Star Tribune, Sept. 19, 2008. "Short-sellers have proliferated over the past decade, as financial companies increasingly offered ‘products on the edge that take advantage of the unsophisticated investor,’ said Mike Sullivan, a professor of finance at the University of St. Thomas’ Opus College of Business." http://www.startribune.com/business/28676594.html
  • Preschoolers interviewed, WCCO-AM Radio, Sept. 18, 2008. The Roadrunners, the St. Thomas Child Development Center’s oldest preschool group, took a field trip to downtown Minneapolis and "helped" meteorologist Mike Lynch with his weather report. Listen here.
  • "Business is booming – at least in the classroom," Star Tribune, Sept. 22, 2008. "At the University of St. Thomas, roughly four out of every 10 undergraduates are studying business." http://www.startribune.com/local/29459639.html
  • "Who picks up the tab?:  A closer look at who is responsible for paying property taxes," Southwest Journal, Sept. 22, 2008. “’Property taxes are the kind where people expect the Assessor’s Office to give you the assessment and for the treasurer’s office to send you a bill,’ said Scott Taylor, who teaches tax law at University of St. Thomas School of Law." http://www.swjournal.com/index.php?&story=12378&page=152&category=69