Mental Preparation

Well it's December 28th, just a few days after Christmas. Christmas tree is coming down, garbage men are picking up dozens of empty toy boxes. And I am getting ready for my 3rd semester in this MBA program with Ole Miss. You may remember from a previous post that I received two B's in the Fall Semester and I am thus COMMITTED to getting two A's this Spring. The classes this time around are:

MBA 613: Mobilizing Technology: The role of information and computer technology in the modern business enterprise. Emphasizes practical application of computer and information technology to real-world problems and decision environments. Requires development of an advanced end-use application involving process reengineering.
MBA 621: Statistical Analysis: A critical examination of the theory and assumptions underlying the major multivariate statistical techniques.

A mouthful by any measure. Needless to say, if I'm going to get better performance this time around, I will HAVE to do things differently. I think the idea my wife and I came up with involving me getting study time in AWAY from home twice a week was a brilliant introduction toward the end of the fall. Backing that up with increased usage of the online textbook tools should bring things around to my favor. Here we go!!

Are you LinkedIn?

I am, finally. It's a funny thing for a guy who swore off all social media and at one time was proud of little to no web presence, now I'm all over the place. I guess I was just turned off at how sophmoric MySpace became in no time. Linkedin seems different. It comes across as a much more mature social networking site than some of the others. I have made some productive connections in university alumni groups and with former coworkers and friends. For those interested, here I am on the web:

http://www.linkedin.com/pub/lawrence-lockhart/17/58b/227

http://mbafortheoldguy.blogspot.com/

http://www.youtube.com/user/onesirian

 

Fall 2009 Grades And More

First fall semester is finished and the grades are in (rather promptly I might add). Despite a sure measure of unassuredness (is that a word?), I logged in to the university internal portal site and checked my grades just last Monday. 2B's...yes two B's. I predict my New Year's resolution will begin with the resolve to shrug off all remaining vestiges of mediocrity and embrace superior performance to the point of achieving A's. And with that, my graduate school transcript looks like so:

MBA 601 Managerial Communication A-Excellent 3 credits

MBA 614 Business Environment B-Good 3 credits

MBA 623 Integrative Business Analysis B-Good 3 credits

Semester	GPA: 3.33 Points: 30.00 Attempted Hours: 9.00 Earned Hours: 9.00 Graded Hours: 9.00
Resident	GPA: 3.33 Points: 30.00 Attempted Hours: 9.00 Earned Hours: 9.00 Graded Hours: 9.00

MBA 611 Financial Analysis B-Good 3 credits

MBA 617 Managerial Accounting B-Good 3 credits

Semester	GPA: 3.00 Points: 18.00 Attempted Hours: 6.00 Earned Hours: 6.00 Graded Hours: 6.00
Resident	GPA: 3.20 Points: 48.00 Attempted Hours: 15.00 Earned Hours: 15.00 Graded Hours: 15.00

On Productivity

As a good friend and I used to muse, it is totally possible and often found that people do things the right way without doing the right things. The problem with this scenario is that gives the "doer" of said tasks the unearned satisfaction of having done a good job while from a meta-perspective the question remains if the good job done was the one that most needed to be done. In other words is the person doing what needs to be done or just doing what they can most easily do. What we find in studies of productivity is that people are always doing something; even quiet moments of reflection hold great value. In such a constant go mode, there surely must be some guidelines to help direct one's task flow, specifically in workplace scenarios.

Fortunately, Brian Tracy has shared some guidelines of this very nature. For those that do not know, Mr Tracy is a top shelf business strategist, success coach, and prolific author. In his book Eat That Frog, Brian shares among other strategies that on each day you go to work, you should identify all of the relevant tasks you have to accomplish on that day. Then, he advises picking the most difficult and least liked task from the list to accomplish first. The metaphor is that if the first thing you do each day is eat a live frog, the rest of your day has to get better from there. Similarly, by accomplishing your most difficult duties first, you

1. Put them behind you
2. Build upon the momentum of success
3. Deliver great value to your organization early.

#3 is particularly helpful in safeguarding against the dreaded unproductive day eminating from useless distractions, unproductive meetings, and fire after endless fires. When approached from the big-picture thinking of a VP or C-suite level position, this aids you in accomplishing high value-added tasks more often and becoming a person that both does things right AND does the right things.

News from the Street

• AOL and Time Warner have outlined the details of an upcoming spin-off. The acquisition in 2000 has proved a troublesome one with AOL profitability and market valuation dropping sharply ever since.
• Hard-hitting venture capital firms are doing the unthinkable in a frantic effort to lure investors back to the table: they're slashing their own fees and in some cases cutting them outright.
• Treasury yields are going up as investors seek safer places to stash cash going into the end of the year
• Facebook Fopah: Canadian Natalie Blanchard apparently just didn't think they would look when she was surprised by a sudden halt in her sick-leave benefits. Ms Blanchard after going on leave for clinical depression was photo'd having the time of her life in a local party, a vacation, and even a Chippendales bar show; all of which were captured on her own facebook page. Maybe that was part of the treatment...

Help is on the way

Quick blurb to share an excellent online reference I've been visiting for the past few months.

http://www.youtube.com/user/SusanCrosson

Tons of videos on all things accounting. Big help here recently.

Light at the End of the Tunnel

OK my last blog post was a zillion years ago and rather depressing now that I look at it. To counter-balance that, I'd like to share one inspiring website. The site is called Khan Academy and it is owned and run by Salman Khan. Salman officially qualifies as a "good guy" in my book. B.S. in mathematics from MIT, Harvard MBA, and an array of engineering degrees. So what does a guy like this do with his spare time? How about upload over 800 free informative videos on youtube on every subject from elementary arithmetic to differential equations. I'm serious! From newtonian physics to advanced topics in finance. All for free. He states his goal is to educate the world. I for one think that's alright ;-) Enjoy

http://www.khanacademy.org/

In other news, the MBA program is most demanding at this point. In finance we are studying firm valuation and the capital budgeting process for levered firms (what led me to Khan in the first place). The Harvard Business School case studies are helpful in this class since we are in teams and we learn from one another - also because of the real world nature of the cases themselves - our last case was on the Marriott corporation and involved determing the proper hurdle rates for the three divisions of that firm: hotels, restaurants, and contract services. Since I've been on that case for a week now I have NO idea what our next subject is in accounting. Guess I should crack a book!

Eye opening crooks

Part of this high tech business education I'm receiving involves an immersion in all things financial. I take it our professors want us well-tuned to the beat of American finance and all things Wall Street. To that end, my managerial accounting class suggested each student subscribe to the Wall Street Journal which I did immediately. After watching my dad read that paper for as long as I can remember, now I'm in the inquisitor seat digging out what nuggets I can from its pages.

Short version? WSJ rocks! That is an excellent paper and it is fascinating to just read it everyday. (Yes, this is coming from a generation-X'er who still loves his news updates via Google News: http://news.google.com/ ). Did you know Kraft is trying to strongarm Cadbury into being bought out? Or that Mars SWALLOWED Wrigley's gum last year? And in other news, I guess I've just been in a cave under a rock under the earth's core somewhere, but while we continue to lambast ol' Bernie Madoff for his treacherous Ponzi scheme, I have learned through WSJ that there are Madoff-spinoffs who are just as bad! These guys are not shady wanna-be multi-level marketers hawking every version of water filter, super vitamin, and weight loss pill known to man...these guys are established in the American financial sector, respected in their communities, and generally thought of as decent guys. That is, until the fateful day when they walk up and announce to their investors the impending doom that they face. I imagine it sounds a little like my dad put it once, when I was expounding on the corporate benefits of organizational communication and he said "Oh, so somebody just needs to say HEY YA'LL! WE GOING BROKE!". An entire semester course summed up in 5 words and the worst part is, he's 100% right. Where's the accountability? Where's the checks and balances? Where's the guy with the bullhorn belching out my dad's line at the top of his lungs? Woefully, nonexistent - again, bear in mind some of these guys are MBA types like I'm trying to be - makes you wonder. Heck, even Bernie was a former chairman of NASDAQ! Can't get much more established than that.

Anyway, good guys will be good guys and bad guys will be bad guys and at the end of the day, you better have some form of internal gauge on how you handle money that is based on something more substantial than whether or not said decision will yield you a positive net income. That's what Bernie used to do and I emphasize USED to.

To conclude, here's stories about two other Ponzi schemers that aren't getting much press right now - that is except in the Wall Street Journal:

Idaho man makes off with $100M! That's a whole lotta potatoes!!

http://online.wsj.com/article/SB123216172808292889.html

New Yorker takes dirty money and gets it dirtier!

http://online.wsj.com/article/SB125242221709292609.html?mod=googlenews_wsj

Rich man fresh in jail:

Same man, not so rich, not so fresh. Any questions?

Random Labor Day thoughts

#1 Nothing really heavy to share today. I'm quite appreciative of the fact I can have my folks and my in-laws over for a BBQ and everything goes well. Good food, fun, and fellowship. In case there is anyone left on planet earth that hasn't figured it out just yet, a loving family is more valuable than all the degrees and high-paying jobs in the world. Even when your baby looks at you like you're crazy!

#2 After much reluctance, I must admit facebook is quite addictive. Never mind the number of people who try to "friend" me who were never really my friend, it really gives you an effectice way to catch up on old times with lots of good people from your not so distant past. I'm interested in growing my lists from a networking perspective but I take it linkedin is more geared toward that type of thing. Great, another site to register for. Oh and twitter serves no purpose for me whatsoever. I do not want you to know when I go shopping, jogging, and cutting my weed-infested grass. It's just not that serious.

#3 The more I learn of this amazing world, the more diverse my interests become. That's a good thing right? WRONG! At a time when I'm trying to pinpoint that final big career that's going to take me into my gray years, that one thing that pays ridiculous money yet feels like fun, that one thing where I'm going to earn my 25 year pin, that "thing" could potentially be any NUMBER of things. Even during down time when I visualize ideal career scenarios that get my juices going, it could be

• V.P. Marketing and Sales for a Fortune 500 foodservice provider
• Senior Director Corporate Training and Development for a resort chain
• Program Coordinator for distance learning degree options at a major university
• Business Professor at an HBCU
• Upper administration at an HBCU
• Management Consultant specializing in lean enterprise initiatives
• Founder, CEO for a new restaurant franchise based on my mom's Cajun and southern recipes
• Founder of a company that produces one product that I can't tell you about right now (it's just that good)

You see where this is going. I'm intrigued by a whole lot of stuff. So until that majestic day when I graduate with MBA in hand I'll continue to ask questions, investigate, and perhaps the final pick will be something I haven't even thought about yet.

#4 Recently added another role model to my list of people to keep an eye on. Check him out:

http://marquisweblog.blogspot.com/

#5 HAPPY LABOR DAY!

Campus Meeting

Well, I had an eventful and educational Saturday. On the 29th, about 25 of us "distance-learning" types met at Ole Miss for an in-person informational session. We started with coffee and pastries around 8 and by 8:15 we were rolling. We were introduced to Bethany Cooper, a chipper young lady who directs the whole program, our IT expert Randy Uncapher, Dr Vorhies who is "Mr. Marketing" on campus, and I think the Dean, Ken Cyree.

After those pleasantries, we burst headlong into class. My two classes for the day were Managerial Accounting and Corporate Finance though the finance professor made it very clear the entire class was really a VALUATION class (of projects, firms, etc) and all the little pieces that go into that valuation. That professor, Dr Fuller, is a fireball! Very engaging fast talker with a comedic pace to her patter. Other professor reminded me of an 8th grade English teacher I had - just 2 sweet.

Looks like a lot of casework this semester as we already had cases assigned in the accounting class then after a vote on Saturday we "magically acquired" cases for the finance class. Buckel your seatbelts, things might get a little rocky for a bit.

Summer's Over

Well my first semester as an MBA STUDENT has ended and the results are in: 2 B's and 1 A - not the stellar performance I was going for but upon reflection I think this is pretty darn good considering a full time job and full time family. Taking two classes this Fall: Managerial Accounting and Corporate Finance - wife is going back to school as well so this will be a very interesting and challenging two years. We'll have our first in-person training session this weekend so I'll actually see professors in person as well as meet the dean. Should be fun.

NEW BAG!

I've seen some pretty nifty laptop bags in the last few days. I don't really need one, really can't afford to buy one but there's this impulse thing at play. So let's vote; here's a few popular styles. Msg back and let me know which way you would go. In all likelihood, I'll stick with my Dell shoulder bag regardless but I thought this would be a neat exercise. If your favorite isn't listed, include a link or picture in your post.

Online education debate

OK so I'm a huge proponent of continuing education. It was as a "nontraditional" student that I was able to complete my Bachelor's at Mississippi State University. That said, not all online programs are built the same, and not all online programs yield the same results. I just listened to a sad story today about yet another student "burnt" by unscrupulous online schools. This young man was attempting to transfer to a major university and was summarily told he could not be admitted until completion of two classes he could have sworn were on his transcript. When he searched his transcript, indeed he had taken the two classes via an online program. Long story short, the "school" he took the classes through was locally accredited only and held no national accreditation which means he really took those classes for nothing. He spent his money, put in the time, but was not able to use those classes to his benefit whatsoever. That's sad.

My humble advice to anyone consideing completing college credit through an online program: take those classes through a traditional campus-based university that you have heard of and potential future schools and employers will have heard of as well. Too often, "online only" schools are little more than quick profit centers that teach little while taking much. Stick with a school you already know. Public as well as private schools around the country are opening their doors via the access point of the web and they bring a level of familiarity and reputation that will help immensely. Worked for me.

Gotta fly now

OK so all work and no play makes Brainy a dull smurf. Soooo I packed up the wife and flew off to New York for our third anniversary. I needed that, NYC is hot, I loved it top to bottom. Well, everything except the drivers. Those cats are crazy.

SMH

Why oh why did my summer financial aid clear within 6 weeks of my FAFSA submission but the fall is still "outstanding" after 2 months? And what's with that word "outstanding" anyway? How can something that should be done yet is still not done be "outstanding". More like "woefullylate" or "notjustyet" or even "wehavenoidea". Yeah, I like that word. More people should use that word "wehavenoidea" rather than sharing information that is so incorrect as to be potentially damaging to the lives and careers of ofthers. Yup, "wehavenoidea" is the word of the day. Time to get to work

Breather

Well I pushed through the Mgr. Economics midterm and Contemporary Business Analysis final. Those were indeed comprehensive but they're behind me now and no one could be any happier.
Econ homeowrk due tonight, maybe I should start reading now.

Le' Crunch

One managerial economics midterm,

One contemporary business analysis final,

One business simulation final assessment.

No sweat.

If you see me looking like this, I don't have a headache. I'm just learning the difference in short run and long run when it comes to changes in the market eqillibrium price. All part of economic analysis and the first thing you learn when you really get into supply and demand. Homework due tonight.

Birthday!

My baby Nina turned 1 and had her first Chuck E experience. Went fairly well considering she was half asleep
the whole time. Party's over, back to studying.

Here we go

OK and now we have gotten really seious really fast. First lecture in managerial economics and my prof. has whipped out some elementary calculus on me. DO YOU KNOW HOW LONG IT'S BEEN SINCE I'VE HAD CALCULUS?! AAAhhh!!! Sure, conceptually it's a simple maximization problem looking at the rate of change in total costs and total revenue but wow what a way to start you know. For those just joining me, I'm a non-traditional student going back to school to get my MBA at my local State U via a distance learning format. So far doing well but I'm REALLY having to earn it at this point. This blog is just tracking the ups and downs along the way.

Summer 09 Blog 1

OK, so I'm a 36 y.o. guy, wife and 3 kids, mortgage, 2 cars, and a DEMANDING job. So what in the world would possess me to pursue an MBA? Strange as it may sound, all the stats I just mentioned are the very reasons I'm going for this. Turns out Ole Miss (University of Mississippi) has a pretty decent MBA program that's well-respected in the Southeast and has a distance learning component that works out well for me. So fast forward to now. I started this summer after taking 2 prerequisites I needed during the Spring. First class was PMBA 601 Organizational Communication and that let me know just how intense this was going to be. First class - 3 textbooks, 20+ academic articles, 2 major papers, powerpoint presentation w/audio all in about 7 weeks. That's intense. I'm midway through 623 - Contemporary Business Analysis and this week just started 614 - Environment of Business. (Managerial Economics) I'll talk more about 614 tomorrow - it's a cool class.