Kyle Speed

 

In high school, I worked with an impressive young man from Seattle, Washington.  He was a soft-spoken manager yet his presence commanded respect.  On the court in our recreational basketball leagues, he displayed an exceptional ability to score, record assists, and keep team morale lofty.  Off the court, his optimistic attitude and words of encouragement turned a mundane high school job into an enjoyable experience.

The young man I’m writing about has a name--Kyle Speed.  He is now the starting point guard and a student at Grand Canyon University in Phoenix, Arizona.  In addition to balancing the responsibilities of a student-athlete, Kyle makes sure he is there for his wife Bree and their two young children.  

Life presents hurdles to all of us, but Kyle has overcome mountains to get where he is today.  In his early childhood, Kyle, his mother and three sisters stayed in homeless shelters across Seattle.  After his father left the Speed family, they fell upon tough financial times, and bounced around from shelter to shelter, even staying at homes for battered women on occasion.  The family relied on food kitchens for meals and sought out charities for clothing. 

Eventually, the family was placed in a two-bedroom apartment as a part of the Seattle Emergency Housing program.  Kyle slept on the couch, but had a chance to harness his basketball skills on the apartment’s court.  When his mom graduated from vocational school and started a job as a dental assistant, the family moved out of the shelter and Kyle went on to excel in football and basketball at Lake Washington High.  However, Kyle hadn’t completely emerged from the immaturity of youth.  After just a semester at Bellevue Community College, he dropped out as heavy marijuana use consumed his life. 

As the struggles continued, he got a job at a childcare facility, but was taken aback by the number of older people on the premises.  Kyle saw what could happen to himself if he continued down the road he was on, and decided to rededicate himself to academics and the game of basketball.  The environment in Seattle didn’t provide him with many opportunities, so he relocated with Bree--his high school girlfriend--to Kansas, where she had family.  Kyle took on two jobs, which was where he entered my life.  As a manager on duty at a fitness club and an employee at a sporting goods store, Kyle attempted to support himself and Bree while he searched for a junior college that would let him play basketball and attend classes.  After nearly a year and no interest from local schools, he enrolled at Johnson County Community College in Overland Park to work towards an associate’s degree.  While there, he decided to attend an open basketball tryout, a decision that changed his life for the better.  The coaches liked what they saw and invited him to join the team as a walk-on.  Faced with the daunting task of getting playing time at one of the best junior college basketball programs in the country, Kyle outworked his teammates and earned a spot in the starting lineup on opening day of the season. 

Not even a torn ACL was enough to slow Speed down.  During his sophomore season, he averaged 14.1 points and 4.8 assists per game, and shortly after, he received a call from Grand Canyon University.  Meanwhile, Kyle married Bree and is now the proud father of Kyle, Jr.  After Kyle took a recruiting visit to Arizona, he was impressed with the on-campus housing and opportunities for his family, and eventually accepted an offer to play basketball at GCU.

Life has really turned around 180 degrees for the Speed family.  Last year, Bree gave birth to their second child, and she now has a job at GCU.  Kyle also works in the Student Contact Center to earn extra income for his family.  The demands of basketball, school, work, and holding a family together are enough to make any man sweat, but Kyle performs his duties with a smile on his face.  He’s a shining example of hard work, commitment, and devotion.  I wish him the best, and I hope he realizes the lasting, positive impact he has left on the people he has touched.

Turner Gill Fired

 

On Sunday evening, the University of Kansas fired Turner Gill after two losing seasons and three years remaining in his $10 million contract.  I’ve heard nothing but good things about this man’s character in the past two years, but his firing is cold hard evidence that in order to keep a head coaching job at a BCS school, you must produce results.  

Although I never met Turner, players and coaches raved about his desire to help young men succeed.  In a statement, athletic director Sheahon Zenger reinforced this sentiment, regarding Gill a “quality individual who wants only the best for the young men he coaches.”
 

The Jayhawk faithful never want to be reminded of the embarrassment that was the KU football team over the past two years.  In 2011, out of 120 BCS teams, KU ranked dead last in points allowed (43.8) and 95th in points scored (22.3).  After a wild shootout victory against Northern Illinois on September 10, the Jayhawks lost their next 10 games by an average margin of 20 points.  Those defeats include a 59-21 drubbing at the hands of in-state rival Kansas State and a 70-28 blowout courtesy of Oklahoma State.  In a 43-0 loss at Texas, the KU offense mustered up a grand total of 46 yards.  In two seasons as head coach, Turner’s only Big 12 win came against a struggling Colorado team that promptly fired its coach after the loss.  The offense, special teams, and defense never played a complete game.  Opportunities were missed and the Jayhawks looked worse in the final games of the season that in the beginning. 
 

If Gill was expected to build the KU football team from scratch, the athletic department probably would have been more patient with him.  However, KU’s 2009 recruiting class was ranked 4th by Rivals.  In addition, KU football had established itself as a bowl game regular prior to his hiring in 2010:
2008- Defeated Minnesota in Insight Bowl
2007- Defeated Virginia Tech in Orange Bowl
2005- Defeated Houston in Fort Worth Bowl
 

The burden now lies on the athletic department to hire a suitable replacement.  Former Texas Tech coach Mike Leach would be a sensible candidate given his track record and longstanding relationship with Sheahon Zenger.  In 1993, Zenger started a magazine called American Football Quarterly.  Through interviews and staying in touch, Leach and Zenger developed a friendship.   Considering the dire circumstances, Zenger needs to make an intelligent hire to turn the football program around, and it needs to happen quickly.  Other BCS schools--North Carolina, Mississippi, Illinois, Penn State, Washington State, and Arizona-- have openings and there are only so many top-tier coaches to go around.  KU fans demonstrated in the Mangino era they are willing to attend games when the Jayhawks are competitive, a fact which will justify calling a big name.    

A Blind Man's Advertisement

Once upon a time, an old blind man was sitting on the busy street corner in downtown Kansas City begging for money.  On a cardboard sign, next to an empty tin cup, he had written, "Blind--Please Help" 

He sat there for hours, and no one gave him any money.  Eventually, a young advertising agent walked past, saw the blind man and his empty cup, and noticed all the people passing by.  The advertising agent took a thick marker from her pocket, turned the cardboard sheet over.  After pondering for a moment, she rewrote the sign and headed on her way.

Immediately, passerbys began to put money in the tin cup.  After awhile, when the cup was overflowing with money, the blind man asked a stranger to tell him what the sign said.

"It says, 'It's a beautiful day.  You can see it.  I cannot.'" replied the stranger.

This anecdote is a reminder that the words we choose influences how well we connect with other people.  Whether we are aware of it or not, effective communication is absolutely essential in personal and professional lives.  If you are willing to master it, every aspect of your life will improve.    

Happy Thanksgiving

Thanksgiving is the day that kicks off the holiday season.  A historically unifying event, Thanksgiving brings together Christians and non-Christians alike to celebrate America and give thanks for what we have.  

Thanksgiving also reignites the frustrations Christians experience during the holiday season.  We cannot say Merry Christmas because it is intolerant and offensive.  Instead, we are relegated to say, “Happy Holidays”, a phrase so vague and uninspiring that it leaves us feeling hallow.  But Thanksgiving brings us together.  We can say “Happy Thanksgiving” to everyone, but shouldn’t the politically correct among us be outraged this seemingly harmless expression?  Along with the creation of America came the decimation of an entire race of indigenous people.  The Native Americans certainly weren’t thankful for being told how to live.  Despite the morally questionable historical roots surrounding this popular holiday of Thanksgiving, it is nevertheless a chance to be grateful.  If for no other reason, giving thanks helps us lead a life of Christian virtue.  Our gratitude level is inversely proportional to our level of greed.  Gratefulness magnifies what we have while ingratitude magnified what we lack.      

In his book The City of God, St. Augustine explains that the philosophers have different opinions on what constitutes the good life.  Plato and his followers advocate contemplation and reflection as ways to add meaning to our lives.  Aristotle promotes the view that contemplation and action are necessary to live well.  

For college students, Thanksgiving is an opportunity to reflect.  Thoughtful reflection is good for everyone, and no human life should be without leisure.  Every professional should strive to have a mixture of productivity and rest.  One reason we need this leisure is to appreciate and be grateful for what we have been given.  Thanksgiving is a time we can celebrate relationships with family and friends.  Along with gratitude comes the call for charity.  Several years ago, my father and I went down to the Salvation Army food kitchen and served Thanksgiving dinner to the poorest among us.  I will never forget this experience.  Moreover, it is a time for us to express gratitude so we can further figure out who we are.      

Thought Provoking and Powerful Pictures

Pay It Forward

If you have never seen the film Pay It Forward, it’s worth your time to watch.  Based on the best-selling novel of the same name by Catherine Ryan Hyde, the film received mostly negative reviews from film critics for being emotionally manipulative and a sales pitch for the Pay It Forward Movement.  Despite the unfavorable reception of the film, the concept of ‘pay it forward’ is a brilliant one that outlines how an ordinary person like you or me can make a positive difference in this world. 

Paying It Forward is a boundless commitment to do good deeds without expecting anything in return.  If someone does a nice thing for you, you “pay it forward” by performing an act of kindness for someone else.  If the person you helped asked how to pay you back, simply tell them to “pay it forward”.

Although paying it forward is a straightforward concept, here are a few tips to get you headed in the right direction.

Always Look For Opportunities To Help Someone 
This mission can be difficult because we live in an era of precise scheduling and overcommitment.  Much of our time is occupied with work, school, shopping, and everything else.  Of course, there will always be small opportunities to help an elderly neighbor carry out the trash, or picking up the tab for a friend’s lunch.  However, if you want to make a bigger impact, budget time into your busy schedule for community service.  Make a regular habit out of searching for chances to make other’s lives better.

Don’t Expect Much In Return 
Paying it forward does not involve any compensation other than the feeling that you performed an act of kindness for a fellow human being.  It’s about helping make the world a friendlier place.  To be selfless means to get nothing in return.  I'm not sure this pure altruism is possible.  When you give money to a beggar, don’t you get happiness or satisfaction in return?  I think so, and if you helped another person while achieving happiness, you made the world a better place.   

Don’t Forget To Spread The Word
If, in the course of your random acts of kindness, someone wants to repay you, that is “pay it back”, explain to them the concept of “paying it forward”.  Tell them you’d like them to do something nice for three people in lieu of payment to you.  The idea is to exponentially increase the goodness in the world.

Reasons Why You Should Visit Office Hours

In college, every professor is required to hold office hours, which is a chance for students to stop by without an appointment and ask questions about the course.  When I started college, I told myself every excuse in the book to avoid office hours:
-I had too much homework.
-I had a class during the scheduled office hours.
-Office hours are for struggling students.
-I am intimidated by the professor.

Now, I look forward to the opportunity to interact with professors.  I can’t pinpoint a specific time when my attitude towards office hours shifted, but it did, and I now make every effort I can to become acquainted with some of the smartest people in the world.  Besides a casual conversation, there are many benefits that showing up to office hours can offer you. 
 

Clarification on course material
In a lecture, it can be difficult to summon the courage to ask a question.  You might feel insecure or embarrassed at asking a question the class might already knows the answer to.  If the textbook does not offer an answer that makes sense, go see your professor about your concern.  After all, the professor is the individual teaching the class.  Therefore, he or she is expected understand the course material to a greater extent than you.  Go in there with questions, listen, and hopefully, you will come out a more informed person.
 

Job Opportunities
While a professor has the power to offer you as job as a teaching assistant, most of the time, a strong letter of recommendation will help you tremendously.  Furthermore, professors are generally well-connected people who can refer you to someone in the field you are interested in.  If a contact ends up landing you a job or internship, remember to be appreciative and grateful to your professor.
 

Enhance Your Education Experience
I know this idea sounds absurd, but you might actually be one of the few people in college to learn new things.  If you find the course material to be intellectually stimulating, go to office hours to learn about other courses that will further your understanding of your areas of interest.  Professors can also offer you good advice about graduate school and research opportunities relevant to your academic interests.  Tuition and fees are exorbitant as it is, so why not get your money’s worth? 

Just like you, professors are people.  If you treat them with respect and decency, you will find they will react the same way.  Professors want to inform and share their knowledge about their discipline, or else they would not have applied for a teaching job.  Demonstrate honesty, sincere curiosity, and respect, and you can’t go wrong. 

A Mother and A Father?

I have been blessed to have a loving mother and father, but in our society, many children only have one parent due to high divorce rates.  Some children have two parents of the same gender.  I started thinking recently about the role a parent plays in a child’s life--do children need both a mother and a father?  Is it unnatural to only have one parent or two parents of the same gender?

The nuclear family has only recently developed as commonplace in our species, so it is difficult to say whether or not is has been a success.  Human beings previously lived in small tribal groups with extended families. 

What happens when the parents are homosexual?  All children seek to emulate their parents, so it would be awfully peculiar for a heterosexual male to try to copy his homosexual parents.  Such an endeavor might bring about feelings of guilt and confusion.  Another problem arises when kids with homosexual parents are teased by bigoted kids and parents. 

I am of the opinion that a child needs adult guidance of one form or another in this world.  Here’s a fact- a baby would die without adults who care.  Babies are helpless and dependent upon adults for all their physical needs- food, shelter, water, and learning.  Once you look outside of basic needs and focus on ideas, the parents indoctrinate their children to some degree.  Children’s minds are like sponges that absorb ideas and then mimic them. 

I also think that a child, regardless of gender, should be influenced by both masculine and feminine qualities.  Why?  Both of these characteristics are evident in the world.  The child will be able to deal with these differences more effectively if they are present in the home. 

It should be mentioned that a child needs is love and compassion, and the source can come from anyone- homosexuals, divorced parents, and heterosexuals.  I am only arguing that the optimal situation includes both a mother and a father because masculine and feminine characteristics are present in the world.  I won’t doubt there are gay couples who are perfectly capable of loving and properly raising a child, but this is not the perfect scenario.

Movie Review: Tower Heist

 

As the Occupy movements capture media attention from major news outlets, Hollywood found it fitting to release Tower Heist, an action-comedy flick about working class individuals rising up against a Wall Street phat cat.  Ben Stiller plays the role of Josh Kovaks, the manager of a high-class condo in present-day Manhattan.  Through an impeccable attention to detail and excellent customer service, Josh has gained the respect and friendship of the resident elites, especially the owner of the Tower’s top suite, billionaire Wall Street genius Arthur Shaw (Alan Alda). 
 

The level of trust Josh has for Mr. Shaw sets up the conflict--Shaw is allowed to manage the employee pension fund for all Tower workers.  When an FBI investigation led by boozy Agent Claire Denham (Tea Leoni) reveals Shaw’s billion-dollar fraud, Josh is crushed, but quickly plots revenge.  Kovak pulls together his team which includes local thief Slide (Eddie Murphy).  Stiller plays the straight-man and his band of misfits provide comic relief.  There is also help from Josh’s brother-in-law/concierge worker Charlie (Casey Affleck), elevator operator Enrique (Michael Pena), Odessa, a Jamaican maid (Gabourey Sidibe), and a recently evicted former stock broker, Mr. Fitzhugh (Matthew Broderick).  With his team assembled, Kovaks hopes to pull off a Robin-Hoodesque heist to steal $20 million Josh believes Shaw has hidden in his high-rise condo.  The gang of crooks at least know the ins and outs of the Columbus Circle highrise.
 

While the plot is rather preposterous and far-fetched, the film’s timeliness is what will draw people to the box office.  In an era of growing frustration with Wall Street and the upper 1%, people won’t mind paying $8 to see a Bernie Madoff-like character out-smarted by a regular squad of working class Americans.  As a bonus, Eddie Murphy will provide a few laughs in this shallow, yet recession-relevant flick.

MF Global and the Risky World of Derivitives

On Halloween, MF Global filed for bankruptcy in a move that will liquidate the brokerage unit after problems arising from investments in European bonds.  According to BankruptcyData.com, the bankruptcy is the seventh-largest in US history, and the company is the first American victim of the European sovereign debt crisis.  On October 25, the firm reported a $191.6 million quarterly loss as a result of trading European government bonds.  Quickly after this news was released, credit rating agency Moody and Fitch downgraded the company’s corporate credit rating to junk, a grade associated with ultra-high risk. 

Despite knowing the troublesome waters MF Global was treading in, PriceWaterhouseCoopers (PwC), MF Global’s auditors, never issued a going concern opinion in which accountants express doubts about the company’s ability to remain in business.  This is surprising given an auditor’s responsibility to evaluate whether a company can continue to operate.

MF Global experienced four years of massive losses, severely negative free cash flows for three of the last four years, an unhealthy exposure to the European debt markets, and several downgrades in the corporate credit ratings, yet no going concern opinion was issued by PwC.  In addition, MF’s debt-to-equity ratio was approximately 30-1, based on $40 billion of assets and just $1.4 billion of equity.  Perhaps part of the reason is that MF Global could have disguised its debt levels by temporarily slashing obligations before issuing its financial statements each quarter.  A report from the Wall Street Journal suggests MF Global participated in “window dressing”, a technique in which a company misleads shareholders by not reporting the true levels of risk in its investments. 

Furthermore, window dressing masks the actual levels of risk and borrowing of a financial institution. For instance, third quarter of 2010, MF’s short-term borrowings were reported at $18.7 billion, but those loans peaked at $28.4 billion (34% higher) during the period. 

On Friday, Jon Corzine stepped down as MF Global’s chairman and chief executive after reports surfaced about the whereabouts of $633 million of missing customer money.  A former executive at Goldman Sachs from 1994 to 1999, Corzine described his departure from MF as difficult.  He joined MF Global in March 2010 after serving as a U.S. Senator and governor of New Jersey. 

The downfall of MF Global is a sober reminder of what can happen when a firm takes aggressive, risky bets in one market using excessive leverage.  Investors lost trust in the company, and credit nearly evaporated.  Somewhere along the line, MF Global either ignored or failed to implement risk management controls, and it came back to haunt them on Halloween.  However, the writing on the wall was evident long before the day of Jack-O-Lanterns.

Inside Internships Profile #2- Marci Mauch

As college students continue to work through a semester of coursework, some of them can now say they have worked internships in professional atmospheres.  In an effort to capture these valuable experiences and share them with other internship-seeking students, I am continuing a post series on Joe’s Musings called Inside Internships.  Our first Inside Internships post featured Phil Bastow, a junior studying accounting.  My hope is that you will learn how students found and prepared for their internship as well as skills acquired on the job.  Our second student is Marci Mauch, a senior studying accounting and finance at the University of Kansas.  Over the summer, Marci interned at the U.S. House of Representatives in Washington D.C. for Congressman Huelskamp.
 
There is an enormous amount of information available through Career Centers and internship search engines regarding internships.  How did you find your internship at the US House of Representatives?



I found my internship through a news website (ksallink.com) for my hometown.  There was an article that said Congressman Huelskamp was looking for interns for his offices in D.C., Salina, Dodge City, and Hutchinson.  The article discussed how to apply, so I did.  

 

What was the best thing about your internship?



The best thing about my internship was how much I learned! 

 

One of the core purposes of an on-site work experience is to equip you with the skills necessary to succeed in your career. What are three skills you acquired or refined through your internship?

 

Three skills I refined through my internship were writing, public speaking, and researching. 

 

Every internship is different because agencies have vastly different missions, work environments, and leadership.  What is one advantage and one disadvantage of doing an internship at the US House of Representatives?



One advantage of doing an internship at the U.S. House of Representatives is that there is always a very knowledgeable speaker to listen to.  For example, I got to hear Colin Powell speak at the Intern Lecture Series. 



I cannot think of a single disadvantage to my internship.  I had a great experience, and I do not have anything negative to say. 

 

Many students don’t know that you can acquire college credit for completing an internship, even if you landed a paid position.  Did you elect to receive college credit?  

 



I did not elect to receive college credit.  



In one sentence, what advice would you give to students seeking to intern? 
 


Learn as much as you possibly can. 

Movie Review: V for Vendetta

 

Remember, remember the 5th of November...

The opening scene of V for Vendetta gives us a lesson in English history.  In the 17th Century, a gentleman named Guy Fawkes attempted to blow up Parliament, an act of sabotage that caused his execution in front of a mob of thousands.  The film then fast forwards to London in the not too distant future.  A totalitarian regime has seized control of Great Britain and the United States is in a state of chaos caused by a civil war.

We are introduced to an individual who goes by the letter V.  As the story is told, we learn that V will use any means necessary to incite the will of the people to rebel, while gradually killing off individuals from his dark and mysterious past.  He stands for an overthrow of the government by carrying out Fawkes‘ failed mission.  V’s true identity is never revealed as he wears a Fawkes mask covering his entire face.     

Natalie Portman gives an excellent performance as Evey, an orphan whose parents were detained for political activism.  She works for the state-run British Television Network.  Initially, V rescues her from an attempted rape by members of secret police, and takes her to his safe house on the evening of the the 5th of November, a day the people of Britain will always remember.  Throughout the film, V sheds light on the truth behind the deaths of her parents, and she is conflicted between her nonviolent tendencies and the evil evident in her government.   

There’s plenty of kung fu, violence, and gunfire, but the most striking aspect of V for Vendetta is the dark, resonant, politically-charged idea it conveys.  Fear can be used to give a person or organization too much power as is the case in V for Vendetta.  V’s goal is to awaken and empower the people, but his methods are morally questionable.  Regarding the England’s oppressive regime, he said, “If you want to see who is responsible, look no further than the mirror.  I understand, you were afraid...People should not be afraid of their governments.  Governments should be afraid of their people.”  This film is purposefully designed to make you uncomfortable and make you question the moral correctness of V’s actions.  Even the Chancellor’s actions aren’t as black and white as they might appear--he believes his actions are necessary for a safe society, however evil they are.  Does the end ever justify the means? 

How does V for Vendetta apply to current affairs?  You can see individuals among the Occupy Wall Street protests wearing the Guy Fawkes mask adorned by V.  Whether these protesters understand the violent historical roots and profundity of the mask is entirely up for debate.  Guy Fawkes attempted to blow up a government building, yet his image has been romanticized over the past 400 years.  It is essentially equivalent to donning a Timothy McVeigh mask.  From my own observations, I’ve concluded that Occupy protesters have a much more peaceful message than Fawkes.

Further adding to the irony of the protests, Warner Brothers holds licensing rights for the Guy Fawkes mask.  Therefore, when anti-corporation protesters purchasing official versions of the masks are actually enriching the target of their demonstration.  However, several protesters have stated they are using illegally-made copies to circumvent Warner Brothers.

Groupon's IPO Prices at $20 Per Share

 

Groupon’s roadshow certainly had its highs and lows, but founder and CEO Andrew Mason expected skeptical audiences.  A roadshow consists of a series of meetings with potential investors and brokers conducted by a company and its underwriter prior to an initial public offering.  Normally a casual dresser, Mason got a new haircut and dressed in a suit as he attempted to persuade prospective financiers that Groupon is a sound investment choice.  At the end of Tuesday, Groupon priced its initial public offering at $20, exceeding the expected range of $16 to $18. 

Groupon is initially selling just 35 million shares, or 5 percent of total shares.  The low supply has caused an increase in the price.  In this regard, Groupon is following a trend set by other US internet firms.  LinkedIn, which went public in May, sold less than 10 percent of its total stock in its IPO. 
On November 4, Groupon will start trading on the NASDAQ stock exchange.  If the stock price increases significantly on the first day, expect Zynga and Facebook to expedite their IPOs. 

Groupon’s business model is somewhat questionable, causing uncertainty among potential investors.  The tech company prompts customers to shop as groups rather than individuals so they can earn deep discounts from local businesses.  The discounts only apply if there is a certain number of customers that sign up for a deal.  As explained on Groupon’s site, “Each day, Groupon e-mails its members one unbeatable offer on something great to do in your city.  We offer consumers great values by guaranteeing businesses a minimum number of customers.  If a certain number of people sign up, then everyone gets the Groupon offer.  If that minimum isn’t reached, then no one gets it.”

Groupon seizes economies of scale by connecting large numbers of customers with businesses.  A company captures economies of scale when it lowers the average cost per unit through increased production.  For instance, when 10,000 laptops are made, the per unit cost is cheaper than if only 1000 were manufactured because fixed costs are spread over a larger production batch.
Local businesses receive two benefits from Groupon’s offerings.  First, they receive guaranteed demand for their products and services, which lowers excess inventory and attains economies of scale.  Second, Groupon creates communication and anticipation for new products and services. 
On the positive side, Groupon has demonstrated rapid growth.  In under 2 years, it has grown from 152,203 subscribers to 83.1 million.  During that same time, revenue has grown from $3.3 million to $644.7 million.

So how does Groupon make money?  Consumers purchase a coupon through the Groupon website.  When someone purchases, say, a $40 massage, for $20, Groupon will keep $10 and pass the remaining $10 onto the business.  In this instance, the massage parlor is providing a $40 massage for $10, but it attracted a customer it might have otherwise not gained.
This business model might not be sustainable because small businesses are actually hurt when a Groupon is successful.  Potential losses increase with every Groupon customer that walks through the door.  Imagine if 10,000 people showed up wanting a $40 service, but the company only receives $10 per massage.  The massage parlor’s per unit revenue will be slashed by 75%, but its costs remain the same.      

Businesses with high fixed costs and low variable costs will benefit from using Groupon.  Health club memberships, yoga classes, sporting events, DVDs all fall under this category.  High margin businesses that can afford a 75% reduction in revenue might also be interested in Groupon.  Take for example a jewelry shop where the retail price is 500% of the actual cost.  A Groupon 75% discount (25% to Groupon, 50% to the customer) might work for this type of business. 

What do you think?  Is Groupon’s business model sustainable?  Is the $20 stock price too high?

Short Interview Tips

 

As the recruiting season continues, many college students will double if not triple their current interview experience.  Because I am still learning the principles of strong interviewing, I don't have a wealth of knowledge to share yet.  However, I do maintain a list of 9 universally beneficial tips in my back pocket. 

1. Be Enthusiastic, Smile, and Exude Confidence

2. Know the company better than anyone else interviewing for the position
In addition to researching the company's mission, dig for current events and press releases you can casually bring up in your interview. 

3. Dress for success
You can't go wrong with a black suit and tie. 

4. Focus on how you can add value to the company, not how the company can benefit you.

5. Nonverbal communication is just as important as what you say.
Sit straight, make plenty of eye contact, and demonstrate enthusiasm through your body language. 

6. Never trash past employers or bosses or organizations.

7. Tell memorable stories that illustrate your strengths.

8. Show your interest with intelligent, informed questions.

9. Be Yourself
Be the best version of yourself, not a second-rate version of somebody else.