Last Monday, Tesla passed G.M. as the most valuable American auto-company. With a current market capitalization of $50.9 billion, Tesla’s stock has been climbing in recent weeks. However, the question on every investor’s mind: is this growth sustainable or is Tesla overpriced and bound to be a risky investment in the long-term?
Amazon Go Not Yet Ready for Prime Time
Four years ago, Amazon asked, ‘what if we could create a shopping experience with no lines and no checkout?’ Shortly after, Amazon revealed exciting plans to open a computerized brick-and-mortar retail store in downtown Seattle. Was this a stroke of genius or is the program running into problems?
Ongoing Brexit and Changing Globalization Trends
Since the British referendum to leave the European Union last June, there has been much speculation over how the UK plans to change its role as not only a European nation, but also a global one. British Prime Minister, Theresa May, triggered Article 50 of the Lisbon Treaty—which created the EU—on March 29, 2017, starting the two-year Brexit process. Now the country faces challenges with reconciling its Brexit goals.
Campus Events This Week
April 17, 2017
Deutsche Bank-Global Transaction Banking Fireside Chat 151 Warren Hall @ 5PM
Open to: Freshmen and Sophomores
RSVP via Handshake and on Deutsche Bank website
Attire: Business Casual
What I Wish I Knew At 22 (Hotel School Young Alumni Panel) 5th Floor Tower Statler Hall @ 5:30PM
Open to: All
RSVP on Handshake
Information Session with GE Aviation 155 Olin Hall @ 6PM
Open to: All
RSVP on Handshake
Deutsche Bank Global Transaction Banking Coffee Chats Venue TBD @ 6:30PM
Open to: All
Register here
Morgan Stanley Cornell Student Ambassador Study Break Warren Hall B02 @ 7:30PM
Open to: Freshmen and sophomores
Register here
April 18, 2017
Meet Sun World President David Marguleas 170 Roberts Hall @ 1:30PM
Open to: All
RSVP on Handshake
April 19, 2017
Deloitte’s 2017 Human Capital Trends Presentation 105 Ives Hall @ 4:30PM
Open to: All
RSVP on Handshake
Current Events This Week
Cornell Related
- Joe Biden to speak at Cornell Class of 2017 Graduation.
- John Novarr, Developer of Collegetown Terrace plans new apartments on Linden Avenue. Novarr hopes to target MBA students since the Breazzano Center for Executive Education, once finished, will be located next to the new housing.
Markets
- S&P 500 was down 1.1% this week amidst worries of geopolitical issues.
- Bonds and gold both fared well in the previous week as investors sought safer investments.
- United Airlines has lost $570M in market cap this week after passenger was dragged off a United aircraft.
International
- Former Odebrecht SA, Latin America’s largest construction company, executive is tying Brazilian president Michel Temer to $40Mbribery scandal.
- Russia, Syria, and Iran have unified on a common front in support of Syrian president Bashar al-Assad, stating that US accusations of a chemical strike by the Syrian government in Damascus are false.
Tech
- Uber has run into regulatory problems in both Denmark and Italy as the two nations’ governments try to oust the ride hailing company from the roads. On the bright side, Uber is resuming service in Taiwan after a 2 month hiatus.
- Tesla has now surpassed both G.M. and Ford in market value coming in at a cool $50.9B.
Politics
- Former Alabama Governor Robert Bentley was forced to resign after he plead guilty to using state funded resources to try to cover up his extramarital affair. Lieutenant Governor Kay Ivey was sworn in as the new governor following his step down.
- President Trump has threatened to withhold critical subsidies for Obamacare if Democrats do not agree to negotiate a new deal.
Business Leader of the Week: Charlie Liao
"I’d rather leave an impression on the people I’ve interacted with. I’d be much happier if I could say that I helped a friend land her dream job instead of saying that people remember me for doing x, y, and z things."
Campus Events This Week
March 27, 2017
DSP Work on Wall Street Conference Terrace Restaurant Statler Hotel @ 5 PM
Open to: All
RSVP here
March 28, 2017
Hotel School Career Conversation with Brian Waldman, SVP, Peachtree Hotel Group 253 Statler @ 4:45 PM
Open to: Hotel School
RSVP on Handshake
JPMorgan Chase Information Session and Networking Night Statler Hotel, Ballroom @ 5:30 PM
Open to: freshmen and sophomores
Attire: Casual
Recommended to pre-register here and on Handshake
The Truth about the Nuclear Disaster in Fukushima and the Future of Renewable Energy” by former Japanese Prime Minister Naoto Kan Statler Hall, Statler Auditorium @ 5 PM
Open to: All
March 29, 2017
How Financial Markets are Changing- a discussion led by Lee Maschler, Founder and Principal Owner of Trillium 175 Warren Hall @ 5 PM
Open to: All
Attire: Business Casual
RSVP on Handshake
Intel’s Strategic Position in the Race Towards Self-Driving Cars
Intel’s $15.3 billion acquisition of Israeli tech company Mobileye positions the company to be the leading tech provider for self-driving car manufacturers.
Current Events This Week
1. Cornell Related
- Cornell receives $280K to give as fellowships to students studying agriculture by the U.S. Department of Agriculture.
- Wings over Ithaca has re-opened under new management in Collegetown. It was previously closed in October 2016 after its owner was charged with 26 counts of tax evasion.
2. Markets
- Markets are holding their breath as the vote on the healthcare bill is expected to have profound effects on the broader markets.
- Analysts have found markets are proving to be more resilient following terrorist attacks as there was barely any movement following the terror attacks in London. In the past, investors have been quick to dump stocks and move money to more stable investments following such tragedies.
3. International
- Major cities are under high alert and tightened security measures as Great Britain recovers from a terrorist attack that left 4 dead and many more injured.
- It was announced this week that British Prime Minister, Theresa May, will officially declare to the European Union that the UK will be leaving the EU, with full effects of Brexit estimated to occur in 2019.
4. Tech
- Computer Scientist and A.I. researcher Andrew Ng leaves role as chief scientist at Chinese internet company Baidu.
- A hacker who stole more than $39 million from the Kenya Revenue Authority has been caught.
5. Politics
- The Republican push to repeal Obamacare failed Friday, after a minority group of Republicans unsatisfied with the changes voted to repeal the controversial Affordable Care Act.
- Secretary of State, Rex Tillerson, has ordered heavier scrutiny of Visa applicants in addition to rejecting anyone who presents “security concerns.”
Strike in the University of Puerto Rico Amidst $450 Million Budget Cuts
On March 21, after hours of long debate, the students of the University of Puerto Rico’s Rio Piedras campus (UPRRP) voted to go on strike from March 28 to April 6.
A Peek Into The Changing Political Landscape of Korea
In the wake of South Korean President Park Geun-hye’s impeachment earlier this month, many wonder if the shifting political landscape will result in the substantive economic and political reforms needed to overhaul its corporate governance.
Echiuma - The Good Light Company
I should start out with the problem; in Nigeria power is really infrequent. We could be talking right now, and the power could go out and not come back for two weeks. If you want to have electricity during a blackout you would have to use a generator. And that is only for grid electricity, where only 40 percent of the country has it. That can be really challenging for a business that needs energy to function.
Should They Stay or Should They Go?
Following the United Kingdom's controversial decision last June to secede from the European Union, it appears that Scotland is gearing up for its own vote. While many will agree that leaving the European Union presents obstacles that Scotland and the rest of Great Britain will have to tackle moving forward, perhaps Scotland's best decision is to remain part of Great Britain for now.
Janet Yellen & The Curious Case of the Rate Hike Conundrum
Last Wednesday the Chairman of the US Federal Reserve announced her decision to hike interest rates by a quarter-percentage point. How have the Dollar's value and the Dow been affected?"
Current Events This Week
Cornell Related
- The School of Hotel Administration hosts its 92nd annual conference Hotel Ezra Cornell.
- Cornell was recently awarded $7million by the Department of Transportation to lead infrastructure research.
Markets
- Geese may migrate south for the winter, but Canada Goose’s IPO certainly headed north, ending the day up 26% at $16.08 and a company valuation of $1.7 Bn.
- Boeing, the US, and an unspecified international company made a $3.4 Bn deal for new and renovated Apache attack helicopters. Markets have rebounded 250% since their low eight years ago.
Business
- Tesla has raised $1.2 billion, approximately 20% more than expected, through the sale of common shares and convertible debt.
- Given a Trump presidency and positive economic outlook, investments banks are on pace for substantial growth with return on equity to increase by 5%.
Tech
- Apple is looking to broaden its reach and is planning on investing $500 million into R&D centers in China.
- The race to dominate the autonomous vehicle market is heating up with Google taking Uber to court on accusations that former Google workers now employed by Uber stole proprietary information from Google.
Politics
- Mark Rutte, the current Prime Minister of the Netherlands is preparing to extend his stay in office after getting re-elected for a 3rd term as Prime Minister.
- Paul Ryan and the Senate Intelligence Committee see no evidence supporting Trump Wiretap claims.
On Campus This Week
March 20, 2017
● A&S How to Find a Job or Internship in Nonprofits Location will be emailed out to registered students @ 3:30PM
Open to: Arts and Sciences
RSVP on Handshake
● Tuck Summer Bridge Program Info Session 104 Rockefeller Hall @ 4:30PM
Open to: Arts and Sciences
RSVP on Handshake
● Career Conversation with Entrepreneur- Edward Piegza of Classical Journeys 253 Statler Hall @ 4:45PM
Open to: All
RSVP on Handshake
● Morgan Stanley Sales and Trading 101 and Networking Reception Statler Hotel Taylor A & B @ 6:15PM
Open to: Freshmen and Sophomores
Attire: Business Casual
RSVP on Handshake and at Morgan Stanley's website
March 21, 2017
● Morgan Stanley Equity Research Networking Event 198 Statler Hall @ 6PM
Open to: All
Attire: Business
RSVP on Handshake and at Morgan Stanley's website
● Student Leadership Educators Network Meeting 148 Stocking Hall Conference Center @ 2PM
Open to: All
RSVP here
March 22, 2017
● Career Conversation with Chief Revenue Officer, Alex Ross of Nix86 189 Statler @ 4:45PM
Open to: All
RSVP on Handshake
March 25, 2017
● Cornell Business Impact Symposium Klarman Hall @ 8:30AM
Open to: All
Buy Tickets here
A Cold Snap on Wall Street
The share price for Snap Inc., the parent company of Snapchat, fell below its opening price of $24 on the first day of public trading, three days after the company’s IPO. While the stock enjoyed robust gains before opening to the public, the sudden nosedive reflects growing unease with the company’s inability to post a profit and concerns about future growth prospects.
Meet Natural Cuts
I would define an entrepreneur as someone who is unafraid of being wrong or viewed as different. They are ready to throw themselves out into the world, get beaten up in all sorts of ways and are still ready to stand back on their feet and figure out a solution... If you think you are smarter than everyone else, then I would not say you are an entrepreneur.
Current Events for the week of 3/13 - 3/19
1. Cornell Related
- Electronic/Hip-Hop band Big Gigantic and Indie group MisterWives chosen as Slope Day headliners. (BrassTracks and S’Natra set to open)
- Nick Lambrou proposes new 5-Story Collegetown apartment on Eddy St.
- Ithaca College faculty unions set strike date for March 28th/29th if agreement is not met by then
2. Markets
- 8 years ago today, markets hit their crisis era low, since then have rebounded 250%
- Markets saw a very slight decline over the course of the week as pressure from the financial and energy sectors stunted growth
3. Finance
- The US Energy Information Association predicts that domestic oil production will hit its highest level in the nation’s history by next year
- Following the jobs report released on March 8th, a FED rate hike seems almost certain to occur
4. Tech
- Airbnb’s latest round of funding brings its valuation up to $31B
- Wikileaks “Vault 7” reveals CIA spying and malware
5. Politics
- South Korea upholds ruling to remove President Park Geun-Hye from power
- Obamacare revision passes two house committees as Trump and Republicans rush to pass the proposed plan
Campus Events for the week of 3/13 - 3/19
03/13
Goldman Sachs: Growing Our Business (Human Resources, Compliance and Services)
Warren Hall B02 @ 4PM
Open to: Freshmen and Sophomores
RSVP here.
Women and Negotiations: Getting What You’re Worth
Milstein Auditorium @ 5PM
Open to: College of Human Ecology, College of Architecture, Art and Planning and The Hotel School
A Global Journey in Banking with Gunit Chadha
Goldwin Smith Hall G76 @ 5PM
Open to: All
03/14
Goldman Sachs: Resume Review and Mock Interview
Amphitheater Statler Hotel @ 12PM
Open to: Freshmen and Sophomores
RSVP here.
SSO Workshop: Get the Facts on Visa Sponsorship and OPT/CPT in the U.S.
W. Sibley Hall B1 @ 4:30PM
Open to: All
DysID: Talk with Alex Myrs, Author of “Revolutionary”
Warren 101 @4:30 PM
Open to: All
From Liberal Arts and Sciences/Social Sciences to Goldman sachs
Klarman Hall G70- Rhodes-Rawlings Auditorium @ 4:35PM
Open to: All Social Liberal Arts and Sciences/Social Sciences majors
JP Morgan Chase Information Session and Networking Night
Ballroom Statler Hotel @ 6PM
Open to: Freshmen and sophomores
Dress code: Casual
Pre-register here.
Big Red Venture (Johnson’s School Venture Capital Fund): Start-Up Competition Application Due
03/15
Finance Internships: Recruiting 101 and Alumni Panel with Goldman Sachs
Goldwin Smith Hall G76 Lewis Auditorium @ 4:30PM
Open to: Sophomores of all majors
Come to learn about the recruitment process for fall 2017 recruitment (for Summer 2018 internships), to hear from a panel of Cornell alumni about their transition to the firm. RSVP on Handshake.
Deloitte Startup Cornell-Innovation Competition
Deadline: March 15th
Register here.
03/16
Natural Cuts x Luna Inspired Street Food Launch Party
Luna Inspired Street Food @ 6PM
Open to: All
03/18
Young Entrepreneurs Panel
eHub Collegetown@ 3:30PM
Open to: All
RSVP here.