Archive for June, 2010
Friday, June 25th, 2010
From Forbes.com, June 25, 2010:
In a commentary written for Forbes.com, Eric Smith, associate director of the Tulane Energy Institute, says the Obama administration’s current Gulf policy will lead to the departure of drilling companies, increasing the nation’s dependence on foreign oil and dealing the U.S. Gulf Coast a dire economic blow.
To read the entire commentary, visit Forbes.com:
Friday, June 25th, 2010
Updated July 9, 2010
The Tulane Association of Business Alumni (TABA) has announced the program for the 2010 Tulane Business Forum. With the theme “Leveraging Corporate Resources,” this year’s forum will focus on business leaders and organizations that have demonstrated the ability to leverage assets to strengthen their market positions and achieve goals.
- “Health Reform: What Is It and What Does It Mean?”
Charles N. Kahn III, President and CEO, Federation of American Hospitals, Washington D.C.
- “Distinguishing Your Company in What Could Be a Commodity Business”
Dean E. Taylor, Chairman, President and CEO, Tidewater Inc., New Orleans
- “Thriving in the Post-Recession, Post-Mass Media Age (aka Now!)”
Robbie Vitrano, Agency Founder and Chairman, Trumpet, New Orleans
John Winsor, CEO, Victors & Spoils, Boulder, Colo.
- Alternative Capital Markets Panel Discussion
J. Marshall Page, Partner, Jones Walker, New Orleans
Nicolas R. Perkin, Co-Founder and President, the Receivables Exchange, New Orleans
Christopher J. Perry, President, Americas Sales & Service, Markets Division, Thomson Reuters, New York
Moderator: Peter Ricchiuti, Burkenroad Professor of Finance, Freeman School of Business, New Orleans
Celebrating its 31st year, the Tulane Business Forum is the premier business conference in the Gulf South, with an annual attendance of more than 750 business leaders from across the region. The forum is TABA’s primary fundraising vehicle and provides essential support for Freeman School programs including the TABA Community Service Program, the Tulane Business Plan Competition, Freeman Days networking events, and the annual Rock ‘N’ Bowl Party welcoming incoming graduate students.
The 2010 Tulane Business Forum will take place on Friday, Oct. 8, at the New Orleans Sheraton (please note the change in venue). Registration begins at 8 a.m. with the first speaker at 8:30 a.m. By attending the forum, CPAs can earn five Continuing Professional Education credits and PEs can earn five Professional Development Hour credits.
For more information about this year’s program and to register online, visit TulaneBusinessForum.com.
Thursday, June 24th, 2010
From the Wall Street Journal Online, June 23, 2010:
Economists and real estate brokers here say it is too early to gauge the long-term damage, but the early signs are worrisome. Leaking oil already has sapped tourism and fishing, and uncertainty lingers as the federal government appeals a court ruling blocking its six-month ban on deepwater oil drilling, which could cost more high-paying jobs.
“Things were really rocking” in Louisiana, said Peter Ricchiuti, a professor of finance at Tulane University and former assistant state treasurer. Insurance proceeds, federal disaster relief and growing employment in oil and gas helped the state “coast through the national recession,” he said. Louisiana’s jobless rate in May was 6.9%, well below the national average of 9.7%.
In the wake of the spill, Mr. Ricchiuti said, “it just kind of seems like Katrina again,” only this time in slow motion.
To read the entire article, visit wsj.com:
Tuesday, June 22nd, 2010
From NPR’s All Things Considered, June 21, 2010:
NPR’s Michele Norris spoke with Eric Smith, associate director of the Tulane Energy Institute, about the drilling moratorium’s potential impact on the Gulf Coast economy and what the government can do to improve safety on rigs drilling in deep water.
To listen to the entire segment, visit NPR.org.
Friday, June 11th, 2010
FOR IMMEDIATE RELEASE
June 11, 2010
Contact: Ben Haimowitz
NEW ORLEANS – The likely effect of the Gulf oil spill on the future stock performance of energy companies in the region may be less dire than one might imagine, suggests a Tulane business professor who is a leading expert on the area’s economy, particularly small-cap firms that he calls “stocks under rocks.” While the six-month moratorium on deep-water drilling may play havoc with the prospects of many firms in the energy sector, which dominates the region, it may actually benefit others.
This assessment comes from Peter Ricchiuti, a clinical professor of finance at Tulane’s A. B. Freeman School of Business and director of its Burkenroad Reports program, in which business students analyze stocks of 40 small-cap companies in Louisiana and nearby states (www.burkenroad.org). A mutual fund based in large part on Burkenroad Reports has outperformed 99 percent of U.S. mutual funds since its inception in 2001.
Clinical professor of finance Peter Ricchiuti says some of the companies followed by the Freeman School's Burkenroad Reports program may actually benefit from a moratorium on deep-water drilling.
According to Prof. Ricchiuti, there are four major energy initiatives in Louisiana and the Gulf area in general, “and they’re all spectacular.” The first initiative is based on the massive natural gas deposits of the Haynesville Shale, near Shreveport, which “in two or three years,” he says, “will be the biggest natural gas field in the world”; the second exploits old land wells and gives them a new lease on life; the third focuses on potentially major natural gas deposits 25,000 or more feet below shallow-water portions of the Gulf; and the fourth involves wells in deep water, where a six-month moratorium on further drilling has been instituted by the Obama administration.
That moratorium in deep water, the professor thinks, could work to the benefit of Burkenroad-covered companies in the three other exploration sectors, as they get more attention and money.
Thursday, June 3rd, 2010
From NPR’s Morning Edition, June 3, 2010:
President Obama has clamped a six-month moratorium on new deep-water drilling. He says a pause is necessary to guard against another crushing environmental catastrophe. But Peter Ricchiuti, who teaches finance at Tulane, says deep-water oil is crucial.
“The last great oil province in the domestic United States is the deep water in the Gulf of Mexico,” he says. “I mean, you can make major gas finds, you can hit smaller oil fields, but what we call elephant fields — the last of them are in the Gulf of Mexico.”
To hear the entire segment, visit NPR.org:
Wednesday, June 2nd, 2010
From Forbes.com, June 1, 2010:
In a commentary written for Forbes. com, Eric Smith, associate director of the Tulane Energy Institute, says oil companies need the U.S. less than the U.S. needs oil companies.
To read the entire commentary, visit Forbes.com:
Tuesday, June 1st, 2010
From The Times-Picayune, May 30, 2010:
[Tulane marketing professor Mita Sujan] says BP may not be quite as motivated to follow Tylenol’s example. “In cases like Tylenol and Toyota, people buy with their feet,” she says. “But with BP, it’s not a branded choice. People generally buy gasoline based on price, not on company. So I don’t think there’s a real financial motivation to accept responsibility.”
To read the entire article, visit nola.com: