Hitting the Tough Shots - MIT Sloan School of Management
Hitting the Tough Shots - MIT Sloan School of Management
Hitting the Tough Shots - MIT Sloan School of Management
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>School</strong>wide News<br />
<strong>Hitting</strong> <strong>the</strong> <strong>Tough</strong> <strong>Shots</strong><br />
By Sarah Foote and Patricia Favreau<br />
Hana Peljto, MBA ’11, can hit a three-pointer, speak four languages,<br />
organize basketball camps for Bosnian children, plan a major, highvisibility<br />
sports analytics conference, complete an internship for Gatorade,<br />
plan her wedding, and earn an MBA at <strong>MIT</strong> <strong>Sloan</strong>, all with enthusiasm and<br />
grace.<br />
Hana came to <strong>MIT</strong> <strong>Sloan</strong> to pursue her passion for <strong>the</strong> business <strong>of</strong> sports—<br />
an interest she has had since she was a child. When Hana was 10, her family<br />
saw that <strong>the</strong> ethnic confl ict in Sarajevo, Bosnia, was not going to improve and<br />
<strong>the</strong>y moved to Slovenia, <strong>the</strong>n Canada, eventually settling in Minnesota where<br />
she attended high school. “Throughout my family’s ordeal, sports provided<br />
me with an outlet and instilled in me a strong work ethic, confi dence, and an<br />
appreciation for teamwork,” she said.<br />
She was accepted to Harvard University where she earned an AB in<br />
Psychology while playing on <strong>the</strong> women’s basketball team. As team Captain,<br />
she was honored with <strong>the</strong> Harvard Radcliffe Foundation for Women’s<br />
Athletics Prize after leading Harvard to consecutive NCAA basketball<br />
tournament appearances and fi nishing as <strong>the</strong> third leading scorer in Ivy<br />
League history. She also received multiple Player <strong>of</strong> <strong>the</strong> Year awards and<br />
was named a Verizon Academic All-American. “Balancing school and<br />
basketball was hard, and academics are very important to me, so I had to<br />
learn how to manage my time effectively,” Hana said.<br />
Continued on page 2<br />
Hana Peljto MBA ’11<br />
Vol: XX<br />
Issue: 9<br />
November 1, 2010<br />
http://mitsloan.mit.edu/newsatmitsloan/<br />
Inside this Issue:<br />
3 <strong>MIT</strong> PSC Announcements<br />
5 Elevator Pitch Winners<br />
7 Brunel Lecture Series<br />
9 Beginner Salsa Lessons<br />
10 Movies: The Informant!<br />
11 Shape Up Somerville
Continued from page 1<br />
During college, her passion for basketball was channeled into <strong>the</strong> creation <strong>of</strong> a basketball camp for<br />
Bosnian refugee children in Minnesota. “The basketball camp for o<strong>the</strong>r Bosnian children refugees was my<br />
fi rst community engagement in which I sought to instill in o<strong>the</strong>rs <strong>the</strong> values that sports have helped me<br />
develop.”<br />
Hana coordinated all aspects <strong>of</strong> <strong>the</strong> project. Over 40 children attended in <strong>the</strong> fi rst year, leading her to<br />
organize separate boys’ and girls’ camps and hire more staff in <strong>the</strong> second year. The camp was recognized<br />
in <strong>the</strong> media for <strong>the</strong> positive impact on <strong>the</strong> community but more importantly, a number <strong>of</strong> <strong>the</strong> campers<br />
continued to play basketball and become role models <strong>the</strong>mselves in <strong>the</strong> community.<br />
Following graduation in 2004, Peljto went on to pursue a lifelong dream <strong>of</strong> playing pr<strong>of</strong>essional basketball<br />
for two years in France, in one <strong>of</strong> Europe’s top women’s basketball leagues. “I always wanted to play at <strong>the</strong><br />
highest level <strong>of</strong> my sport, and it was great to have had that opportunity. I enjoyed travelling with <strong>the</strong> team<br />
and <strong>the</strong>n on my own. It was a great opportunity pr<strong>of</strong>essionally and internationally,” she said.<br />
This year, Hana is <strong>the</strong> Co-Lead <strong>of</strong> <strong>the</strong> <strong>MIT</strong> <strong>Sloan</strong> Sports Analytics Conference, which will have some <strong>of</strong> <strong>the</strong><br />
same amazing guests <strong>the</strong> conference has had in <strong>the</strong> past. The keynote speaker is Malcolm Gladwell, writer<br />
for <strong>the</strong> New York Times and author <strong>of</strong> The Tipping Point. O<strong>the</strong>r speakers will include Mark Cuban, owner <strong>of</strong><br />
<strong>the</strong> Dallas Mavericks; ESPN writer Bill Simmons, and Sarah Robb O’Hagan, <strong>the</strong> Chief Marketing Offi cer <strong>of</strong><br />
Gatorade. “Having known some people who went through <strong>the</strong> MBA program here, I was excited to apply to<br />
<strong>MIT</strong> <strong>Sloan</strong>. I liked <strong>the</strong> culture here, and obviously a huge draw for me was <strong>the</strong> Sports Analytics conference,”<br />
Hana said.<br />
“The conference is a great collection <strong>of</strong> people and students who are interested in and excited about<br />
sports. Both <strong>the</strong> growth <strong>of</strong> <strong>the</strong> conference and students’ increasing enthusiasm has just been incredible<br />
over <strong>the</strong> last couple <strong>of</strong> years. This year we are considering having <strong>the</strong> conference take place over two<br />
days. To be a part <strong>of</strong> one <strong>of</strong> <strong>the</strong> pre-eminent sports conferences has been very exciting for me,” she noted,<br />
adding, “Sports have always been a huge part <strong>of</strong> my life. I have a passion for <strong>the</strong>m, so I can defi nitely see<br />
myself working in sports in <strong>the</strong> long-term,” she said.<br />
Hana already has a jump-start on working in a sports-related fi eld. This past summer she interned for<br />
Gatorade, <strong>the</strong> sports beverage, in <strong>the</strong> company’s Chicago <strong>of</strong>fi ce. Through her <strong>MIT</strong> <strong>Sloan</strong> network, Hana<br />
was able to set up a series <strong>of</strong> interviews that eventually landed her a position in <strong>the</strong> Marketing Department.<br />
While at Gatorade, she worked on a retail strategy and laughed when she said, “I was very well hydrated<br />
this past summer.”<br />
Hana worked on a project that focused on investments in Gatorade’s retail outlets. She had <strong>the</strong> opportunity<br />
to meet Chicago Bulls forward Carlos Boozer while <strong>the</strong>re. “To get insight into how one <strong>of</strong> <strong>the</strong> largest sports<br />
drinks in <strong>the</strong> world really works was very valuable for me,” she said.<br />
News@<strong>MIT</strong><strong>Sloan</strong> is a weekly student newsletter that<br />
updates you about what is happening on campus.<br />
We welcome story ideas, photos, suggestions, and<br />
comments from students, faculty, and staff.<br />
Please send items to: Sarah Foote, Editor,<br />
news@sloan.mit.edu.<br />
Editorial Deadline: 12 p.m. Thursday for publication<br />
<strong>the</strong> following week.<br />
Continued on page 3<br />
2
Continued from page 2<br />
Earlier this fall, Hana was awarded <strong>the</strong> prestigious Siebel Scholarship. The Siebel Scholars program<br />
recognizes outstanding graduate students from <strong>the</strong> world’s top-ranked business, computer science, and<br />
bioengineering graduate schools. This year’s 77 recipients from across <strong>the</strong> globe were chosen by <strong>the</strong><br />
Dean <strong>of</strong> <strong>the</strong>ir respective schools on <strong>the</strong> basis <strong>of</strong> outstanding academic achievement and demonstrated<br />
leadership. “I am very honored. It’s a great way to meet amazing and talented people,” she said <strong>of</strong> <strong>the</strong><br />
award.<br />
As if Hana did not have enough<br />
on her plate, she got married this<br />
past summer and she is a teaching<br />
assistant for Organizational<br />
Processes (15.311) and is a Pilot<br />
Captain for <strong>the</strong> Mediterranean<br />
Ocean this fall. She is also President<br />
<strong>of</strong> Vintners club. In her free time,<br />
Hana enjoys cooking traditional<br />
Bosnian dishes. She said <strong>the</strong> key<br />
to fi tting everything she wants to<br />
do into any given day is “good time<br />
management.”<br />
Hana Peljto (second from left) and <strong>the</strong> group that helped organize <strong>the</strong> 2009 <strong>MIT</strong><br />
<strong>Sloan</strong> Sports Analytics Conference.<br />
<strong>MIT</strong> Public Service Center Announcements<br />
The holidays are right around <strong>the</strong> corner and we know that sometimes this time <strong>of</strong> year can be very<br />
busy! We’d like to remind you that The Public Service Center (PSC) has multiple exciting opportunities<br />
throughout <strong>the</strong> year as well as program application deadlines. Our opportunities are for undergraduates<br />
and graduates and in some cases staff are able to participate. If you have any questions or would like to<br />
know more about how <strong>the</strong> PSC can help you with a service initiative please feel free to stop by <strong>the</strong> PSC in<br />
4-104, or e-mail: psc@mit.edu.<br />
Global Challenge<br />
Inventing <strong>MIT</strong>’s Next Years <strong>of</strong> Service to <strong>the</strong> World<br />
GIVING OPPORTUNITIES<br />
In 2011 <strong>the</strong> Institute will recognize 150 years <strong>of</strong> service to <strong>the</strong> world. As part <strong>of</strong> this special celebration <strong>the</strong><br />
Public Service Center, in partnership with <strong>MIT</strong>150 http://mit150.mit.edu and <strong>the</strong> <strong>MIT</strong> Alumni Association<br />
will launch <strong>the</strong> <strong>MIT</strong> Global Challenge – an invitation to <strong>the</strong> worldwide <strong>MIT</strong> community to collaborate<br />
with <strong>MIT</strong> students through <strong>the</strong> IDEAS Competition. The Global Challenge features several engagement<br />
opportunities, including sponsored challenges, mentoring opportunities, and Community Choice Awards.<br />
It will award up to $15,000 per team for innovative service projects. Combined, IDEAS and <strong>the</strong> <strong>MIT</strong> Global<br />
Challenge will award up to $150,000 to teams that demonstrate <strong>the</strong> greatest innovation, feasibility, and<br />
potential for impact.<br />
For more information visit: http://globalchallenge.mit.edu.<br />
Continued on page 4<br />
3
Continued from page 3<br />
<strong>MIT</strong> Public Service Center Announcements continued<br />
11/22 – 12/14<br />
<strong>MIT</strong> Giving Tree – it’s here!<br />
Brighten <strong>the</strong> holidays for a local child! Please join your fellow <strong>MIT</strong> community members in supporting this<br />
great <strong>MIT</strong> holiday tradition. Through <strong>the</strong> Giving Tree, you can donate gifts to children in <strong>the</strong> Boston and<br />
Cambridge area. Each year, over 500 <strong>MIT</strong> faculty, staff, students, and partners provide gifts to over 600<br />
children affi liated with 13 local service agencies. Co-sponsored by <strong>the</strong> <strong>MIT</strong> Public Service Center and <strong>the</strong><br />
Panhellenic Association, <strong>the</strong> Giving Tree allows participants to choose specifi c gifts for specifi c children,<br />
making <strong>the</strong> gift-giving process a more personalized one for all.<br />
Here’s how to participate:<br />
1.) Stop by <strong>the</strong> <strong>MIT</strong> Public Service Center at 4-104 between November 22 and December 14 (Monday-<br />
Friday 9:00 a.m. – 5:00 p.m.)<br />
2.) Pick up a gift label for a child – or choose more than one!<br />
3.) Purchase, wrap, and place <strong>the</strong> gift label on your gift, and return it to <strong>the</strong> PSC in 4-104, no later than<br />
10:00 a.m. on Tuesday, December 14.<br />
Questions? E-mail: mitgivingtree@mit.edu or visit: http://web.mit.edu/mitpsc/programs/givingtree/.<br />
PSC Grants application deadline is 12/2/10<br />
Public Service Center Grants enable student service projects during <strong>the</strong> semester and over IAP. They<br />
have a rolling deadline, but if you plan to travel at <strong>the</strong> beginning <strong>of</strong> IAP we have an application deadline <strong>of</strong><br />
December 2. Turn in your proposals, and turn your service ideas into action! Expedition Grants, supported<br />
by <strong>the</strong> Underclassmen Giving Campaign and <strong>the</strong> Alumni Association, enable continuing <strong>MIT</strong> students<br />
to travel to an unknown community and explore solutions to problems. Students have recently used<br />
Expedition Grants to start projects in New Orleans, Mexico, and Cameroon!<br />
Learn more at:<br />
https://giving.mit.edu/underclassmen-campaign/index.html<br />
12/15<br />
Would you like to thank a high school teacher who inspired you?<br />
Nominate your favorite high school teacher for <strong>the</strong> <strong>MIT</strong> Inspirational Teacher Award and get <strong>the</strong> chance to<br />
connect that teacher with a great bunch <strong>of</strong> <strong>MIT</strong> resources. Nominations are due before December 15. Visit<br />
http://web.mit.edu/inspire/nomination.html to complete <strong>the</strong> online nomination form.<br />
4
Collapsible Air Freight Crate Wins <strong>MIT</strong> $100K Elevator Pitch Contest<br />
Fourth annual contest unfolded against backdrop <strong>of</strong> Time Travel <strong>the</strong>me<br />
From <strong>MIT</strong> <strong>Sloan</strong> Media Relations Offi ce<br />
Green Logistics, creator <strong>of</strong> a<br />
new collapsible air freight crate,<br />
won <strong>the</strong> 4th Annual <strong>MIT</strong> Elevator<br />
Pitch Contest, sponsored by <strong>the</strong><br />
<strong>MIT</strong> $100K Entrepreneurship<br />
Competition. The winner was<br />
announced during <strong>the</strong> fi nal round<br />
<strong>of</strong> pitches held in front <strong>of</strong> an<br />
in-person and virtual crowd <strong>of</strong><br />
more than 600 people on <strong>the</strong> <strong>MIT</strong><br />
campus last week. More than 300<br />
teams competed in this year’s<br />
contest, representing 23 colleges<br />
across <strong>the</strong> Nor<strong>the</strong>ast.<br />
Twelve fi nalists with ideas<br />
ranging from honey bee vaccines<br />
to instant night life updates<br />
delivered <strong>the</strong>ir pitches, with<br />
Green Logistics, pitched by<br />
Anand Dass, MBA ‘12, taking<br />
home <strong>the</strong> $5,000 Grand Prize.<br />
Elevator Pitch Contest participants, from L-R, Jarrod Phipps, MBA ’11, Lucas Behnke,<br />
MBA ’11, Cynthia Barnhart, <strong>MIT</strong> Interim Dean <strong>of</strong> Engineering, Daniel Vannoni, MBA ’11<br />
and Anand Dass, MBA ’12. (Photo by Julie Williams)<br />
The aspiring startup Supply Change, pitched by Shayna Harris, an <strong>MIT</strong> <strong>Sloan</strong> <strong>School</strong> MBA, focusing<br />
on sustainable supply chain awareness, was awarded <strong>the</strong> $2,000 Runner-up and <strong>the</strong> $1,000 Audience<br />
Choice award. Best Bees, pitched by Noah Wilson-Rich, a Tufts University PhD student, which focuses on<br />
delivering vaccines to honey bees to increase <strong>the</strong>ir productivity, was also recognized with a $2,000 runnerup<br />
prize.<br />
“Five billion dollars in jet fuel is spent every year, shipping empty containers around <strong>the</strong> world” said Dass in<br />
his pitch. “Our invention solves a real problem and will help reduce this expense by 85 percent.”<br />
All Elevator Pitch Contest fi nalists, who were announced on <strong>the</strong> spot, were called down live out <strong>of</strong> <strong>the</strong><br />
audience to deliver <strong>the</strong>ir pitch in 60 seconds or less to a panel <strong>of</strong> investor and entrepreneur judges. <strong>MIT</strong><br />
<strong>Sloan</strong> MBA ‘11 and contest Director Luke Behnke said, “We introduced this element <strong>of</strong> surprise into <strong>the</strong><br />
contest this year, with <strong>the</strong> intent <strong>of</strong> simulating what an entrepreneur might encounter when entering an<br />
elevator with an unknown investor.”<br />
This year’s contest was set against <strong>the</strong> <strong>the</strong>matic back drop <strong>of</strong> Time Travel, illustrating how <strong>the</strong> projects and<br />
research unfolding at <strong>MIT</strong> represent a vision into <strong>the</strong> future. The stage was dwarfed by a six-foot foot high<br />
time machine, with a fl ux capacitor, which greeted fi nalists as <strong>the</strong>y came down to deliver <strong>the</strong>ir pitches.<br />
During a fi reside chat that kicked <strong>of</strong>f <strong>the</strong> evening, Cynthia Barnhart, <strong>MIT</strong> Interim Dean <strong>of</strong> Engineering, and<br />
Bill Aulet, Managing Director <strong>of</strong> <strong>the</strong> <strong>MIT</strong> Entrepreneurship Center, talked about how <strong>MIT</strong> is leading <strong>the</strong> way<br />
in entrepreneurship and innovation, and how <strong>the</strong> <strong>MIT</strong> $100K plays an integral role in linking <strong>the</strong> campus.<br />
When asked why <strong>MIT</strong> students make such good entrepreneurs, Barnhart noted, “<strong>MIT</strong> students see a<br />
Continued on page 6<br />
5
Continued from page 5<br />
problem, and want to solve it. Our students want to make a difference, and this want, along with a culture<br />
that ignores barriers is what drives students here to be so entrepreneurial.”<br />
Aulet elaborated on <strong>the</strong> <strong>the</strong>me <strong>of</strong> cross-campus collaboration. “The more collisions <strong>of</strong> great minds we can<br />
create at <strong>MIT</strong> <strong>the</strong> better,” he said. “The <strong>MIT</strong> Entrepreneurship Center, for example, was designed from <strong>the</strong><br />
beginning to serve all fi ve schools across <strong>MIT</strong>, and promote education between <strong>the</strong> schools.”<br />
The <strong>MIT</strong> $100K will start <strong>the</strong> next phase <strong>of</strong> its competition with <strong>the</strong> Executive Summary Contest,<br />
announcing its winners in February 2010, followed by <strong>the</strong> Business Plan Contest, where more than<br />
$350,000 in cash and prizes will be awarded to aspiring entrepreneurs.<br />
For more on <strong>the</strong> <strong>MIT</strong> $100K, please visit: http://www.mit100k.org/<br />
When a Liquidity Diet for Banks Makes Sense<br />
<strong>MIT</strong> <strong>Sloan</strong> researcher’s model tells banks how to avoid running out <strong>of</strong> cash<br />
From <strong>the</strong> <strong>MIT</strong> <strong>Sloan</strong> Media Relations Offi ce<br />
The balance sheets <strong>of</strong> many <strong>of</strong> <strong>the</strong> big banks that failed or teetered on <strong>the</strong> brink in <strong>the</strong> fi nancial crisis<br />
actually looked fi ne. On paper, <strong>the</strong>ir assets were suffi cient to cover liabilities. Their problem was liquidity.<br />
At <strong>the</strong> end <strong>of</strong> each day, banks must have suffi cient liquid assets to meet demands. If <strong>the</strong>y don’t, <strong>the</strong> bank<br />
heads for failure, which is what happened at Bear Stearns and o<strong>the</strong>r Wall Street institutions in <strong>the</strong> fall <strong>of</strong><br />
2008. Liquidity vanished as apprehension about default spread, and banks were afraid to lend to each<br />
o<strong>the</strong>r.<br />
Sebastian Pokutta, a lecturer in operations research and statistics at <strong>MIT</strong> <strong>Sloan</strong>, has developed a<br />
ma<strong>the</strong>matical model that banks can use to organize <strong>the</strong>ir global liquidity operations so <strong>the</strong>y have suffi cient<br />
liquidity to avoid a repeat <strong>of</strong> what happened in <strong>the</strong> crisis.<br />
The model, which Pokutta developed with Christian Schmaltz <strong>of</strong> <strong>the</strong> Frankfurt <strong>School</strong> <strong>of</strong> Finance and<br />
<strong>Management</strong>, tells large banks when <strong>the</strong>y need to open local liquidity centers in outlying subsidiaries.<br />
These centers can generate liquidity almost immediately, while waiting for a transfer from a distant<br />
headquarters can take hours or even be impossible when headquarters is in a different time zone and<br />
happens to be closed at a crucial time.<br />
“A liquidity center provides relatively cheap and immediate liquidity,” Pokutta said. Liquidity centers are<br />
staffed by traders who can quickly execute overnight loans with o<strong>the</strong>r banks or sell <strong>of</strong>f assets to generate<br />
cash when demand is likely to exceed liquid assets.<br />
“If you don’t have a liquidity center in place, <strong>the</strong> only immediate liquidity available is expensive central bank<br />
funds. Cheap liquidity has to be ordered in advance from a distant location and is only available with a<br />
delay.” Pokutta said. “One might say that a liquidity center is an option on cheap and immediate liquidity.”<br />
Opening a liquidity center can be costly for a bank, since staff must be hired, trained, and equipped.<br />
Pokutta’s model identifi es <strong>the</strong> conditions under which opening such a center would be a wise move for<br />
a bank. It turns out that <strong>the</strong> opening <strong>of</strong> a center becomes more attractive when demand uncertainty<br />
increases.<br />
Continued on page 7<br />
6
Continued from page 6<br />
Most large banks today have only a handful <strong>of</strong> liquidity centers, even though <strong>the</strong> banks have subsidiaries<br />
operating in countries around <strong>the</strong> globe. “Banks today are spread out over time zones, countries,<br />
jurisdictions, and foreign exchange zones,” Pokutta said. “Sometimes <strong>of</strong>fi cials have to sign <strong>of</strong>f on transfers.<br />
People did not think about this before <strong>the</strong> crisis, but now we know this situation is dangerous.”<br />
Before moving to <strong>the</strong>ir academic posts, Pokutta and Schmaltz used to work toge<strong>the</strong>r at a large fi nancial risk<br />
management fi rm. They decided to use <strong>the</strong>ir fi rst-hand experience and academic training to create a model<br />
that simulates a large bank with subsidiaries in countries and regions around <strong>the</strong> world.<br />
The model incorporates <strong>the</strong> many variables that affect a bank’s risk <strong>of</strong> running short <strong>of</strong> liquidity, as well<br />
as <strong>the</strong> cost <strong>of</strong> opening a center. Accounted for in <strong>the</strong> model are such things as <strong>the</strong> liquidity uncertainty,<br />
transferability constraints, currency fl uctuations, and country instability.<br />
In testing <strong>the</strong> model, Pokutta and Schmaltz discovered that <strong>the</strong> key factor in whe<strong>the</strong>r a bank should<br />
open a liquidity center is <strong>the</strong> volatility <strong>of</strong> demand a bank faces for liquid assets. This fi nding contradicts a<br />
widespread assumption in <strong>the</strong> banking industry that <strong>the</strong> total amount <strong>of</strong> demand for liquidity is <strong>the</strong> main<br />
reason to open a center.<br />
“For a very long time people thought that <strong>the</strong> expected demand was what would tell you whe<strong>the</strong>r you<br />
needed to do this,” Pokutta said. “It turns out that <strong>the</strong> volatility aspect is much more important.”<br />
He likens it to ordering pizza for a party <strong>of</strong> 20 friends. The host might assume that each person would eat<br />
two slices and would order pizza with 40 slices plus a few extra. But if <strong>the</strong> host has no idea how much each<br />
person will eat, <strong>the</strong>n it would be good to have a pizza shop nearby with fast delivery.<br />
Before <strong>the</strong> fi nancial crisis, banks did not pay a great deal <strong>of</strong> attention to liquidity management, according to<br />
Pokutta. They focused instead on <strong>the</strong>ir investments, loans, and o<strong>the</strong>r so-called “pr<strong>of</strong>i t centers” in <strong>the</strong> bank.<br />
Since <strong>the</strong> crisis, banks and regulators are paying more attention to liquidity, according to Pokutta. He<br />
believes events would have unfolded differently in <strong>the</strong> fall <strong>of</strong> 2008, if banks had dedicated more resources<br />
to understanding liquidity risk more clearly.<br />
“It should not happen that a bank with a good balance sheet fails,” he said. “Failures caused by liquidity<br />
problems are unnecessary defaults.”<br />
Brunel Lecture Series<br />
This year’s talk in <strong>the</strong> Brunel Lecture Series on Complex Systems, which will be presented by Charles<br />
Ferguson, Director/Producer/Writer <strong>of</strong> Inside Job (new documentary about <strong>the</strong> causes <strong>of</strong> <strong>the</strong> 2008 fi nancial<br />
meltdown; watch trailer here). His lecture, entitled, “The Financial Crisis, <strong>the</strong> Recession, and America’s<br />
Future: A Systemic Perspective” will begin at 4:00 p.m. at <strong>MIT</strong>, in 54–100.<br />
The <strong>MIT</strong> Engineering Systems Division (ESD), which sponsors <strong>the</strong> Brunel Lecture, is an interdisciplinary<br />
academic unit that spans most departments within <strong>the</strong> <strong>School</strong> <strong>of</strong> Engineering, as well as all fi ve schools<br />
within <strong>MIT</strong>. ESD faculty, researchers, and students tackle real-world challenges using approaches from<br />
engineering, management, and social sciences.<br />
For more details about this event and Ferguson visit: http://events.mit.edu/event.html?id=13566016&da<br />
te=2010/11/9.<br />
7
Deadlines to remember:<br />
<strong>Sloan</strong> Women in <strong>Management</strong><br />
(SWIM) Fashion Forward!<br />
Tara Thomas, MBA ’11, at <strong>the</strong> SWIM Fashion Forward<br />
event last week. (Photo by Dawn Peters, MBA Student<br />
Affairs)<br />
SLOAN EDUCATIONAL SERVICES CORNER<br />
Add/Drop Deadline<br />
Wednesday, November 17, is <strong>the</strong> deadline to do <strong>the</strong> following via an add/drop form:<br />
• Add an H2 class<br />
• Add an Independent Study or Thesis units<br />
• Drop a full term class<br />
• Change a full term class to Listener status<br />
• Change <strong>the</strong> grading process for an H2 class using <strong>the</strong> Graduate P/D/F Option<br />
SES reminds you to double-check your fall 2010 registration on WebSIS (http://student.mit.edu) for any<br />
registration errors and to ensure that you have submitted all necessary add/drop paperwork so far this<br />
semester.<br />
Cross-Registration at Harvard During <strong>the</strong> January 2011 Term<br />
This January, Harvard Law <strong>School</strong> (HLS) and <strong>the</strong> Harvard Kennedy <strong>School</strong> <strong>of</strong> Government (HKS) will <strong>of</strong>fer<br />
classes available for cross-registration. Both schools start <strong>the</strong>ir January classes on Monday, January 3,<br />
2011. Harvard Law <strong>School</strong> will accept paper petitions for cross-registration starting <strong>the</strong> fi rst day <strong>of</strong> January<br />
classes, with <strong>the</strong> exception <strong>of</strong> <strong>the</strong>ir Negotiation Workshop which had an October 18 online application<br />
deadline. Harvard Kennedy <strong>School</strong> will start accepting petitions for <strong>the</strong>ir January classes via <strong>the</strong>ir online<br />
registration process on Tuesday, November 2 (a few days later than expected). For more information,<br />
please see <strong>the</strong> updated cross-registration slides on <strong>Sloan</strong>Bid (http://sloanbid.mit.edu) under <strong>the</strong> “Cross<br />
Registration Links” tab.<br />
8
15 DEGREES<br />
ALUMNI NEWS & UPDATES<br />
Fiesty Fiorina Has Mostly Avoided Missteps<br />
Read <strong>the</strong> Orange County Register story about <strong>MIT</strong> <strong>Sloan</strong> Fellow<br />
alumna Carly Fiorina here: http://www.ocregister.com/news/fi orina-<br />
272442-time-business.html<br />
CAMPUS CORNER<br />
Free Beginner and Advanced Beginner Salsa Lessons<br />
Lessons will be held on Wednesday, November 3, 7:30 – 9:45p.m. For more information contact Rahmat<br />
Cholas, salsaclub-exec@mit.edu, or visit: http://web.mit.edu/salsaclub.<br />
Note: we are still confi rming <strong>the</strong> location for <strong>the</strong> beginner class at 7:30. Please join our e-mail list or check<br />
for posted signs at lobby 13 in case <strong>of</strong> potential location changes. 8:30 class will defi nitely be in Lobby 13.<br />
Distinguish Yourself as a Burchard Scholar<br />
Carly Fiorina, SF ’89, spoke at DILS.<br />
(Photo by Sarah Foote)<br />
The Burchard Scholars Program brings toge<strong>the</strong>r distinguished members <strong>of</strong> <strong>the</strong> faculty and promising <strong>MIT</strong><br />
sophomores and juniors who have demonstrated excellence in some aspect <strong>of</strong> <strong>the</strong> humanities, arts, or<br />
social sciences. The format is a series <strong>of</strong> dinner-seminars with discussions on current research topics.<br />
A Burchard Scholar can be a major in any department <strong>of</strong> <strong>the</strong> Institute; no preference is given to HASS<br />
majors. All sophomores and juniors in good standing are eligible to apply. Apply by December 1.<br />
For more information contact Stephanie Muto, smuto@mit.edu or visit: http://shass.mit.edu/burchard.<br />
9
MOVIES<br />
Now Playing on Campus...<br />
The Informant! (2009)<br />
Mark Whitacre (Matt Damon) was fast rising<br />
through <strong>the</strong> ranks at agri-industry powerhouse<br />
Archer Daniels Midland (ADM) when he became<br />
savvy to <strong>the</strong> company’s multinational price-fi xing<br />
conspiracy, and decided to turn evidence for <strong>the</strong><br />
FBI. Convinced that he’ll be hailed as a hero <strong>of</strong><br />
<strong>the</strong> people for his efforts, Whitacre agrees to wear<br />
a wire in order to ga<strong>the</strong>r <strong>the</strong> evidence needed<br />
to convict <strong>the</strong> greedy money-grabbers at ADM.<br />
Unfortunately, both <strong>the</strong> case – and Whitacre’s<br />
integrity – are compromised when FBI agents<br />
become frustrated by <strong>the</strong>ir informant’s evershifting<br />
account, and discover that he isn’t exactly<br />
<strong>the</strong> saintly fi gure he made himself out to be.<br />
(Courtesy <strong>of</strong> Google Images)<br />
Unable to discern reality from Whitacre’s fantasy as <strong>the</strong>y struggle to build <strong>the</strong>ir<br />
case against ADM, <strong>the</strong> FBI watches in horror as <strong>the</strong> highest-ranking corporate<br />
bust in U.S. history threatens to implode before <strong>the</strong>ir very eyes. Scott Bakula, Joel McHale, and Melanie<br />
Lynskey co-star. Directed by Steven Soderbergh.<br />
Playing on November 13, at 7:00 and 10:00 pm in 26-100, and again on November 14, at 7:00 and 10:00<br />
pm in 26-100.<br />
From <strong>the</strong> Lecture Series Committee website. Most movies are just $4.<br />
AROUND TOWN<br />
Things to do in Boston & Cambridge<br />
Boston Comedy Festival<br />
Semi Finals Round 1 Stand-Up Comedy Contest takes place Friday, November 12, at The Cavern Club at<br />
Hard Rock Cafe Boston. For more information call 617-424-7625.<br />
10
SUSTAIN-<br />
ABILITY@<br />
SLOAN<br />
Get Ready for S-Lab<br />
Quote <strong>of</strong> <strong>the</strong> Week:<br />
“Try not to become a man <strong>of</strong> success but ra<strong>the</strong>r try to become a man <strong>of</strong> value.”<br />
—Albert Einstein<br />
<strong>MIT</strong> <strong>Sloan</strong>’s Laboratory for Sustainable Business (S-Lab) is now accepting project proposals for spring<br />
2011, according to Jason Jay, S-Lab faculty member and Program Coordinator.<br />
S-Lab is a project intensive class that integrates classroom learning with a “real-world” team project that<br />
is focused on effective sustainability. It is taught in conjunction with <strong>the</strong> course “Strategies for Sustainable<br />
Business (15.913).”<br />
Host organizations, which can be small or large companies, non-pr<strong>of</strong>i ts, government agencies, or social<br />
enterprises, set <strong>the</strong> project’s focus and work closely with <strong>the</strong> student teams on <strong>the</strong> scope, schedule, and<br />
deliverables. Some examples <strong>of</strong> previous S-Lab fi nal reports can be found here: http://actionlearning.mit.<br />
edu/s-lab/.<br />
Final proposals are due by December 17, 2010.<br />
Somerville is Promoting a Healthier Lifestyle<br />
By Amy MacMillan<br />
First Lady Michelle Obama’s “Let’s Move” campaign is partially based on a local program in neighboring<br />
Somerville, according Nicole Rioles, Coordinator <strong>of</strong> Shape Up Somerville. Rioles spoke at <strong>MIT</strong> <strong>Sloan</strong> last<br />
week at <strong>the</strong> invitation <strong>of</strong> <strong>the</strong> <strong>MIT</strong> Food and Agriculture Collaborative (<strong>MIT</strong>FAC), which has many <strong>MIT</strong> <strong>Sloan</strong><br />
members. Shape Up Somerville is a citywide campaign that aims to increase physical activity and promote<br />
healthier eating. Let’s Move (http://www.letsmove.gov/) is <strong>the</strong> First Lady’s attempt to have children adopt<br />
healthier lifestyles, since childhood obesity rates have tripled over <strong>the</strong> past three decades.<br />
Shape Up Somerville began in 2002 as a joint effort with Tufts University, and was sponsored by a Centers<br />
for Disease Control (CDC) grant, in an effort to reach fi rst-through-third grade children. At <strong>the</strong> time, over 40<br />
percent <strong>of</strong> schoolchildren in Somerville were identifi ed as being overweight or at risk for being overweight.<br />
Rioles presented some background on Somerville, <strong>the</strong> densest city in New England, with a population<br />
<strong>of</strong> 77,478, comprised <strong>of</strong> many immigrants from all over <strong>the</strong> world. These immigrants typically hail from<br />
healthier lifestyles, but in an effort to assimilate into <strong>the</strong> American culture, <strong>the</strong>y <strong>of</strong>ten tend to fall into <strong>the</strong><br />
pattern <strong>of</strong> fast food and driving everywhere “almost overnight,” Rioles said.<br />
Continued on page 12<br />
11
Continued from page 11<br />
Today, Shape Up Somerville is geared toward<br />
<strong>the</strong> entire community and fosters changes<br />
that will make a healthier city. The effort<br />
is getting noticed. Not only did Shape Up<br />
Somerville gain attention at <strong>the</strong> White House,<br />
but <strong>the</strong> Massachusetts Health Council named<br />
Somerville <strong>the</strong> 2010 healthiest city in <strong>the</strong><br />
Commonwealth.<br />
According to Rioles, healthy eating is<br />
emphasized throughout Somerville. The city<br />
boasts two farmer’s markets, nine communitysupported<br />
agriculture distribution sites, eight<br />
community gardens, and eight gardens at<br />
<strong>the</strong> city’s elementary schools. The Somerville<br />
<strong>School</strong> Food Service Department was on board<br />
from <strong>the</strong> beginning. Immediately, <strong>the</strong> fryolators<br />
were expelled from school cafeterias and<br />
vegetable steamers were brought in. Fresh<br />
fruit was made available each day for breakfast<br />
and lunch. Artifi cial trans fat was removed<br />
from food and programs such as “Veggie <strong>of</strong><br />
<strong>the</strong> Month” were introduced to students. Last<br />
<strong>MIT</strong> graduate student Ranjani Paradise (left) with Nicole Rioles <strong>of</strong><br />
Shape Up Somerville. (Photo by Amy MacMillan)<br />
month featured corn, and students shucked corn that <strong>the</strong>y ate for lunch. Colorful posters with educational<br />
nutritional information were posted in school cafeterias. “We are trying to make it a sensory experience for<br />
<strong>the</strong>m,” she explained.<br />
This season, Somerville will open a winter farmers’ market, based on some research done by <strong>MIT</strong> students.<br />
Ranjani Paradise, a fi fth-year graduate student in biological engineering who is <strong>the</strong> Co-Leader <strong>of</strong> <strong>the</strong> Local<br />
Food subgroup in <strong>MIT</strong>FAC, said <strong>the</strong> group designed, implemented, and analyzed a survey assessing<br />
customer interest in a Somerville Winter Farmers’ Market, which will be <strong>the</strong> fi rst winter market in <strong>the</strong> greater<br />
Boston area. The data allowed <strong>the</strong> group to make recommendations about how many vendors to include,<br />
what fees to charge, range <strong>of</strong> products, and best times to hold <strong>the</strong> market. The market will begin in January<br />
at <strong>the</strong> Armory on Highland Avenue and will be open during <strong>the</strong> hours <strong>of</strong> 10 a.m. to 2 p.m. on Saturdays<br />
through March. “There was huge interest in <strong>the</strong> market,” Ranjani said.<br />
Rioles added, “This has not historically taken place around here…we are hoping this will be a draw<br />
and an inspiration to o<strong>the</strong>r cities so that people will have more access to locally grown food in <strong>the</strong>ir own<br />
community.”<br />
The First Lady’s Let’s Move efforts have dovetailed nicely with what’s been happening in Somerville<br />
for years. Mrs. Obama has asked Somerville Mayor Joseph A. Curtatone to recruit more Nor<strong>the</strong>ast<br />
communities to adopt healthier lifestyles. “It really does seem to happen at <strong>the</strong> community level,” Rioles<br />
said.<br />
12