Three intelligent economic minds convened at The University of Akron on March 20 for the annual Economic Summit, The Economy 2012: Strategies in an Uncertain Global Environment. The event was sponsored by the College of Business Administration’s Finance Department in conjunction with the Finance Advisory Board. Proceeds from the event were used for student awards and a faculty grant.
Keynote speaker James D. McCool (1982), Executive Vice President of Institutional Services at The Charles Schwab Corporation, gave his outlook on the economy and explained what companies can do to build and maintain their reputation. McCool stated that service ethos and courageous leadership are the two main attributes needed to grow a company’s reputation.
During the panel discussion, McCool was joined by Paul Christopher, Chief International Investment Strategist at Wells Fargo Advisors, and Lynn Hamilton, Senior Vice President and Portfolio Manager at Key Bank, to discuss the future economic outlook. They explained that the 1980’s and 1990’s were glorious and we began to think that this was the norm. We then went back to the status quo in 2000 as the economy went into its decline.
The three panelists all agreed, however, that, as history has proved in the past, the economy is improving and will continue to improve. After discussing commodities and globalization, they agreed that the United States will continue to dominate global business and the U.S. Dollar will be the mainstay in reserves.
Following the keynote and panel discussions, student and faculty awards were presented. Dr. Bhanu Balasubramnian, assistant professor of finance, was awarded the faculty grant for her research, “Has Dodd-Frank Act improved the market discipline of banks?”. The undergraduate student award was presented to Michael Hapanowicz and Brian Anderson received the graduate student award.