Friday, August 18, 2017

Law & Wellness: Interview with Jodi D. Taylor (Shareholder at Baker Donelson)

Jodi D. Taylor, a shareholder at the law firm Baker Donelson and a former classmate of mine, recently won the firm’s Work-Life Warrior Award. “Baker Donelson established the Work-Life Warrior Award to honor an attorney in the Firm who demonstrates an ongoing commitment to excellence in maintaining a healthy work-life balance or has advocated on behalf of work-life balance issues for the benefit of others.” Jodi graciously accepted my request to answer a few questions for this post, as part of the series I am doing on law and wellness.

The interview is below the break.

Continue reading

August 18, 2017 in Haskell Murray, Lawyering, Service, Wellness | Permalink | Comments (0)

Law & Wellness: Introduction

On July 15 of this year, The New York Times ran an article entitled, “The Lawyer, The Addict.” The article looks at the life of Peter, a partner of a prestigious Silicon Valley law firm, before he died of a drug overdose.

You should read the entire article, but I will provide a few quotes.

  • “He had been working more than 60 hours a week for 20 years, ever since he started law school and worked his way into a partnership in the intellectual property practice of Wilson Sonsini.”
  • “Peter worked so much that he rarely cooked anymore, sustaining himself largely on fast food, snacks, coffee, ibuprofen and antacids.”
  • “Peter, one of the most successful people I have ever known, died a drug addict, felled by a systemic bacterial infection common to intravenous users.”
  • “The history on his cellphone shows the last call he ever made was for work. Peter, vomiting, unable to sit up, slipping in and out of consciousness, had managed, somehow, to dial into a conference call.”
  • “The further I probed, the more apparent it became that drug abuse among America’s lawyers is on the rise and deeply hidden.”
  • “One of the most comprehensive studies of lawyers and substance abuse was released just seven months after Peter died. That 2016 report, from the Hazelden Betty Ford Foundation and the American Bar Association, analyzed the responses of 12,825 licensed, practicing attorneys across 19 states. Over all, the results showed that about 21 percent of lawyers qualify as problem drinkers, while 28 percent struggle with mild or more serious depression and 19 percent struggle with anxiety. Only 3,419 lawyers answered questions about drug use, and that itself is telling, said Patrick Krill, the study’s lead author and also a lawyer. “It’s left to speculation what motivated 75 percent of attorneys to skip over the section on drug use as if it wasn’t there.” In Mr. Krill’s opinion, they were afraid to answer. Of the lawyers that did answer those questions, 5.6 percent used cocaine, crack and stimulants; 5.6 percent used opioids; 10.2 percent used marijuana and hash; and nearly 16 percent used sedatives.”

There is much more in the article, including claims that the problems with mindset and addiction, for many, start in law school.

After reading this article, and many like it (and living through the suicide of a partner at one of my former firms), I decided to do a series of posts on Law & Wellness. These posts will not focus on mental health or addiction problems. Rather, these posts will focus on the positive side. For example, I plan a handful of interviews with lawyers and educators who manage to do well both inside and outside of the office, finding ways to work efficiently and prioritize properly. My co-editors may chime in from time to time with related posts of their own.

August 18, 2017 in Current Affairs, Ethics, Family, Haskell Murray, Law School, Management, Wellness | Permalink | Comments (2)

Tuesday, August 15, 2017

Wharton School of the University of Pennsylvania - Business and Law Professor Position

From an e-mail I received earlier today: 

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FACULTY POSITION IN BUSINESS AND LAW 

The Wharton School of the University of Pennsylvania invites applications for a tenure-track position at any level (Assistant, Associate, or Full Professor) in its Department of Legal Studies and Business Ethics.  Applicants must have a J.D., a J.S.D./S.J.D., a Ph.D. in law, or an equivalent law degree from an accredited institution. An additional graduate degree in a relevant field is desirable but not required. For applicants in a doctoral program, an expected degree completion date of no later than July 1, 2019 is acceptable.

Applicants must have a demonstrated research interest in an area of law relevant to the Wharton School's business education and research missions. Examples of such fields include, without limitation, corporate law, employment and labor law, financial regulation, securities regulation, and global trade and investment law.

The Wharton School has one of the largest and most widely published business school faculties in the world, with ten academic departments and over twenty research centers. Legal scholars in its Legal Studies and Business Ethics Department publish their research in leading law reviews and journals in the United States and abroad. The Department’s faculty teach a variety of required and elective courses in law and business ethics in Wharton's undergraduate, MBA, and EMBA divisions, as well as in its own Ph.D. program in Ethics and Legal Studies.

Applicants are requested to electronically submit a letter of introduction, c.v., and at least one selected article or writing sample in PDF format via the following website,https://lgst.wharton.upenn.edu/faculty/faculty-positions/ , by November 1, 2017.   Decisions for interviews will be made on a rolling basis, so candidates are encouraged to apply early. The appointment is expected to begin July 1, 2018.

 

The University of Pennsylvania is an equal opportunity employer.  Minorities, women, individuals with disabilities and veterans are encouraged to apply.

 

August 15, 2017 in Business Associations, Business School, Haskell Murray, Jobs | Permalink | Comments (0)

Friday, August 11, 2017

Business Law Professor Positions

In this post I will compiled legal studies professor positions (mostly in business schools) and law school positions that indicate a business law preference. I will not be listing adjunct positions. Please feel free to e-mail me with any additions. I will update the list from time to time.

Updated August 15, 2017

Legal Studies Positions (Mostly Business Schools)

Law School Positions (Expressed Interest in Business Law)

 

August 11, 2017 in Business School, Haskell Murray, Jobs, Law School | Permalink | Comments (0)

Thursday, August 10, 2017

University of Nebraska College of Law - Tenured/Chaired Position in International Trade and Finance

From an e-mail I received this week:

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The UNIVERSITY OF NEBRASKA COLLEGE OF LAW invites applications for lateral candidates for a tenured faculty position to hold the Clayton K. Yeutter Chair at the College of Law. This chaired faculty position will be one of four faculty members to form the core of the newly-formed, interdisciplinary Clayton K. Yeutter Institute for International Trade and Finance. The Institute also will include the Duane Acklie Chair at the College of Business, the Michael Yanney Chair at the College of Agriculture and Natural Resources, and the Haggart/Works Professorship for International Trade at the College of Law. The Yeutter Chair, along with the other three professors, will be expected to support the work and objectives and ensure the success of the Yeutter Institute. The Yeutter Chair will teach courses at the College of Law, including International Finance. Other courses may include Corporate Finance and/or other classes related to business and finance. More on the Yeutter Institute can be found at http://news.unl.edu/free-tags/clayton-k-yeutter-institute-of-international-trade-and-finance/.

Minimum Required Qualifications: J.D Degree or Equivalent; Superior Academic Record; Outstanding Record of Scholarship in International Finance and/or other areas related to international business; and Receipt of Tenure at an Accredited Law School. General information about the Law College is available at http://law.unl.edu/. Please fill out the University application, which can be found at https://employment.unl.edu/postings/51633, and upload a CV, a cover letter, and a list of references. The University of Nebraska-Lincoln is committed to a pluralistic campus community through affirmative action, equal opportunity, work-life balance, and dual careers. See http://www.unl.edu/equity/notice-nondiscrimination. Review of applications will begin on September 15, 2017 and continue until the position is filled. If you have questions, please contact Associate Dean Eric Berger or Professor Matt Schaefer at lawappointments@unl.edu.

August 10, 2017 in Financial Markets, Haskell Murray, International Business, International Law, Jobs, Law School | Permalink | Comments (0)

Friday, August 4, 2017

Summer Reading: Option B by Sheryl Sandberg and Adam Grant

OptionB

Shortly after hearing Sheryl Sandberg and Adam Grant speak on a Harvard Business Review podcast, I purchased Option B.

After listening to the podcast, I expected the book to contain more references to the research on resilience than it ultimately did. While I knew the book was popular press, I expected Penn Professor Adam Grant to add a more scholarly flavor. As it was, the book was a relatively short memoir focused on the death of Sheryl Sandberg's husband Dave. Had I started the book expecting a window into Sandberg's grieving process rather than an accessible integration of the resilience research, I think I would have appreciated the book more.  

On the positive side, the book is an extremely easy read and is written with a punchy, engaging style. Sandberg is quite honest, and is blunt in sharing with the readers what is and isn't helpful in interacting with those who have experienced great personal loss. In Sanberg's opinion, you should address the elephant in the room, and should not worry about reminding them of their loss, as they are already thinking about it all the time. Vague offers like "let me know if I can do anything to help" were deemed less helpful than more specific offers like "I am in the hospital waiting room for the next hour if you would like a hug" or "what would you not like on a burger." Also, mere presence was deemed meaningful. As someone who is always at a loss for what to say or do in these situations, her suggestions were helpful. 

Of the relatively limited references to research, I found the discussion of Martin Seligman's work helpful, including the finding that "three P's can stunt recovery: (1) personalization - the belief that we are at fault; (2) pervasiveness - the belief that an event will affect all areas of our life; and (3) permanence - the belief that the aftershocks of the event will last forever." (16).

Also, I appreciated the references to Joe Kasper's work on post-traumatic growth in its "five different forms: finding personal strength, gaining appreciation, forming deeper relationships, discovering more meaning in life, and seeing new possibilities." (79). Thankfully, the authors note that you do not have to actually experience trauma to benefit from this sort of growth, you can experience pre-traumatic growth (especially through observing the trauma of others or near-misses in your own life). 

Based on the podcast, I was hoping on more information on raising resilient children, and there is a chapter on this topic. That said, the chapter did not offer much new. Sandberg and Grant refer to Carol Dweck's work on growth mindset, which I reviewed a few years ago on this blog. The main suggestion was to help "children develop four core beliefs: (1) they have some control over their lives; (2) they can learn from failure; (3) they matter as human beings; (4) and they have real strengths to rely on and share." (111).

While this book wasn't quite what I expected, given the very limited amount of time it took to read (2-3 hours), I think it was worthwhile as a honest look at one person's grief and suggested ways to serve grieving people. 

August 4, 2017 in Books, Current Affairs, Haskell Murray, Psychology | Permalink | Comments (0)

Friday, July 28, 2017

Summer Reading: John Inazu - Confident Pluralism

These days it is easy to get discouraged on how divided our nation seems to be on a number of issues. John Inazu, Distinguished Professor of Law, Religion, and Political Science at Washington University, maps a way forward in his book Confident Pluralism (2016).

The book is divided into two parts: (1) Constitutional Commitments, and (2) Civic Practices.

The first part “contend[s] that recent constitutional doctrine has departed from our longstanding embrace of pluralism and the political arrangements that make pluralism possible.” (8) Further, the first part offers guideposts for future decisions and political solutions. The first part argues for both inclusion and dissent, for the free formation of voluntary groups, for meaningful access to public forums, and for access to publicly available funding for diverse organizations. Provocatively, Inazu claims that Bob Jones case – which stripped tax-exempt status from Bob Jones University due to its prohibition of interracial dating/marriage – is “normatively attractive to almost everyone, [but] is conceptually wrong.” (75) Inazu claims that “[t]he IRS should not limit tax-exempt status based on viewpoint of ideology.” (79) He extends the argument to “generally available resources.” While the Trinity Lutheran case was decided by the Supreme Court after publication of Confident Pluralism the decision seems in line with Inazu’s argument about the provision of ”generally available resources” to all types of organizations. Inazu does concede “Neither [the inclusion of dissent] premise is absolute. Inclusion will stop short of giving toddlers the right to vote or legally insane people the right to bear arms. Dissent will not extend to child molester or cannibals.” (16) I fully never figured out how he draws these lines, as he discusses other controversial topics that the majority of people strongly object to, but perhaps he only seeks to exclude when virtually everyone in society agrees.

The second part “canvass[es] the civic practices of confident pluralism that for the most part lie beyond the reach of the law.” (10) The second part centers around civic aspirations of tolerance, humility, and patience. As defined by Inazu, “Tolerance is the recognition that people are for the most part free to pursue their own beliefs and practices, even those beliefs and practices we find morally objectionable. Humility takes the further step of recognizing that others will sometimes find our beliefs and practices morally objectionable, and that we can’t always “prove” that we are right and they are wrong. Patience points toward restraint, persistence, and endurance in our interactions across difference.” (11). In this part, he describes the “hurtful insult” and the “conversation stopper” as speech we should aspire to avoid. (97-100). The hurtful insult includes terms like “fat, ugly, stupid, friendless.” (97). The aim of the conversation stopper is not primarily used to wound (as the hurtful insult is) but rather to shut down the conversation. Terms like “close-minded, extremist, heretical, and militant” fall in the conversation stopper category. While Inazu admits that those terms can be hurtful, he claims that they are mainly used to shut down reasoned debate.

In conclusion, this is a timely book and is well worth reading. At under 170 pages (including the notes), it is an extremely quick read, but the book is also worth pondering for extended time. Inazu encourages relationships across differences, such as Dan Cathy (Chick-fil-A) and Shane Windmeyer (Campus Pride) and former President Barack Obama and former Republican senator Tom Coburn. (124) I’d add the friendships of the late, conservative justice Antonin Scalia with his liberal colleagues on the Supreme Court Ruth Bader Ginsburg and Elena Kagan. With Inazu, I suggest face-to face conversations with friends with different, strongly-held beliefs. While social media and electronic communication can sometimes suffice between in-person meetings, tough topics are best handled around a table and after trust has been earned. Personally, I count my friendships with those who see the world very differently than I do as some of my most valuable relationships, and those friendships make it difficult to construct the straw men we see so frequently in TV news “debates.”

For more, Paul Horwitz (Alabama) shares some thorough and thoughtful notes on the book here

July 28, 2017 in Books, Constitutional Law, Current Affairs, Ethics, Haskell Murray | Permalink | Comments (0)

Friday, July 21, 2017

Summer Reading: Parker Palmer - Courage to Teach

At the beach with my wife’s family, I read Parker J. Palmer’s Courage to Teach in a couple sittings. Palmer has a PHD in sociology from UC Berkeley, and has written extensively on education.

My mother-in-law was reading the book for her job at a private elementary school, and I brought a limited number of books (due to the weight of my hardcopy books), so I read this book too. Our teaching center at Belmont University has mentioned Palmer’s work a number of times, so I was interested in the book.

Simply stated, Palmer’s thesis is that “good teaching comes from the identity and integrity of the teacher.” He defines identity as “an evolving nexus where all the forces that constitute my life converge in the mystery of self," and he defines integrity as “whatever wholeness I am able to find within that nexus as its vectors form and re-form the pattern of my life.” (13) Teaching, he argues, comes from the heart and soul of the teacher, and not primarily from chosen techniques. 

Palmer makes a solid point about paradox and pedagogical design. “The space should be bounded and open….hospitable and charged….invite the voice of the individual and the voice of the group…welcome both silence and speech.” (76-77). The tendency in teaching, I think, is to swing from one side to the other, when we really need to be addressing all of these things simultaneously. Making space for silence in the classroom is something that is especially difficult for me.

He observed, “students who have been well served by good teachers may walk away angry—angry that their prejudices have been challenged and their sense of self shaken. That sort of dissatisfaction may be a sign that real education has happened. It can take many years for a student to feel grateful to a teacher who introduces a dissatisfying truth.” (96-97). This made me wonder if we should add teaching evaluations from alums 5+ years after the class.

I also liked his description of subject-centered classes (instead of teacher-centered or student centered). In the subject-centered class, the students are active and important participants, but they are not the focus of the time.

Palmer notes that he uses mastery grading, allowing students to revise their papers as many times as they like with only the final grade counting. I tried this once, in an MBA class, because many of my colleagues utilize it. I found mastery grading lacking. It encourages weak initial effort, as the students wait for comments, knowing that they can revise their poor product with more specific guidance.

Finally, I really liked the Quaker concept of a “clearness committee” that Palmer describes. The committee consists of four or five colleagues and a focus person. Before the meeting, the focus person writes a description of the problem (as professors, likely stemming from the classroom). Then, for two to three hours the colleagues of the focus person ask him/her open-ended questions about the problem, being careful not to offer advice, bring attention to themselves, or ask questions that are really advice in disguise (e.g., Have you considered seeing a therapist?) After the questions, the focus person has the option of continuing with mirroring (“reflecting to the focus person things he or she said or did but might not be aware of: 'When asked about A, you said B,' or 'When you spoke about X your voice dropped and you seemed tired.'”) (160). Confidentiality is pledged, not only to those outside of the committee, but also within the committee--meaning that the topic would not be raised again, even among the group members. The clearness committee would take a fair bit of time but seems like a great way to solves problems, as most solutions that stick seem to stem from personal realizations rather than merely outside advice.

There wasn’t all that much that surprised me in this book, but it was an easy read and had a few good reminders.

July 21, 2017 in Books, Haskell Murray, Teaching | Permalink | Comments (0)

Friday, July 14, 2017

Summer Reading: Jayber Crow by Wendell Berry

WB

I highly recommend Jayber Crow by Wendell Berry

Set in rural Kentucky, Jayber Crow is a story about small town life, community, love/hate, sustainability, and industrialization. The main character, Jonah "Jayber" Crow loses both his parents and his Aunt and Uncle by the age of ten. He spends the next few years in an orphanage before obtaining a scholarship to a local college as a "pre-ministerial" student. Doubting his calling to the ministry, Jayber drops out and returns to his hometown. He serves as the town's only barber, and he also picks up jobs as the local grave digger and church janitor. Jayber narrates, in vivid detail, the exodus from the small town by the younger generation and the invasion of large-scale, profit-focused, corporate farming.   

The author, Wendell Berry, warns that "persons attempting to explain, interpret, explicate, analyze, deconstruct, or otherwise 'understand' [this book] will be exiled to a desert island in the company only of other explainers" so I will simply end with a few of my favorite quotes below. I think one of the reasons I so liked this book is because it reminded me of my family's property and of my maternal grandfather, who lived at a pace unknown to most of us and who worked the land with his hands and simple tools. 

"You have been given questions to which you cannot be given answers. You will have to live them out--perhaps a little at a time." (54)

"The university thought of itself as a place of freedom for thought and study and experimentation, and maybe it was, in a way. But it was an island too, a floating or a flying island. It was preparing people from the world of the past for the world of the future, and what was missing was the world of the present, where every body was living its small, short, surprising, miserable, wonderful, blessed, damaged, only life." (71) 

"Instead of sitting out and talking from porch to porch on the summer evenings, the people sat inside rooms filled with the flickering blue light of the greater world." (258)

"We were, as we said again, making war in order to make peace We were destroying little towns in order to save them. We were killing children in order that children might sleep peacefully in their beds without fear." (294)

"On those weekends, the river is disquieted from morning to night by people resting from their work. This resting involves traveling at great speed, first on the roads and then on the river. The people are in an emergency to relax." (331)

"The Economy does not take people's freedom by force, which would be against its principles, for it is very humane. It buys their freedom, pays for it, and then persuades its money back again with shoddy goods and the promise of freedom." (332)

Update: Here is a trailer for a new film on Wendell Berry, Look & See. Powerful, especially if you grew up in a rural place that is now being "developed," or if have seen beautiful landscapes that you love ruined. "Those who had wanted to go home could never get there now...."

July 14, 2017 in Books, CSR, Ethics, Haskell Murray, Real Property | Permalink | Comments (0)

Friday, July 7, 2017

Social Media: Costs and Benefits

A few weeks ago, Stephen Bainbridge asked about the benefits of the social media site LinkedIN. His question caused me to revisit the costs/benefits of social media. Below I reflect on the social media websites I use.

With so many professors getting in trouble on social media - see, e.g., here, here, here, here, and here - it may make sense to ask if any of the websites are worth the risk. As long as you are wise when you post, and assume a post will be seen in the worst possible light, I think social media can be worth using. 

Facebook. 

  • Benefits. Facebook has a broader network of people than any of the other social media sites I use. My parents are on Facebook, as is my wife's grandmother and great aunt, as are my peers, as are my much younger cousins. Facebook also has a wide range of user generated content -- photos, links, short & long posts, groups, etc. The "Friends in ___ City" feature has allowed me to catch up with old acquaintances when traveling for conferences or family trips. Just a few weeks ago, I visited with two of my old coaches for the first time since high school. Neither of their e-mails were online, and I have only kept up with them via Facebook. 
  • Costs. For me, Facebook is the biggest time waster among the various social media sites. Recently, I deactivated my Facebook account for the time being. I will probably be back at some point. The benefits of Facebook could probably be achieved in about 30 minutes a week, but until I learn to limit my use to around that amount of time, I will likely continue to deactivate for periods of time to cut back usage.
  • Use for Work. I don’t allow current students to “friend” me, given the more personal nature of Facebook, but I have allowed alums to connect, which has been rewarding. I follow my university and my alma maters on Facebook. I am Facebook friends with a handful of professional contacts.

Twitter.

  • Benefits. I have kept Twitter almost entirely professional; I rarely tweet about my family or my personal hobbies. As such, for me, the benefits of Twitter are captured in the "Use for Work" section below.
  • Costs. Twitter can also eat time, though unlike Facebook,  I am rarely tempted to spend long amounts of time on Twitter. Twitter doesn't allow for very nuanced debate and your posts can be taken the wrong way. Professor Eric Posner recently posted some harsh comments about Twitter; his comments have a kernel of truth. That said, I do think he is overly negative. For example, I think Twitter can actually be better than newspapers for some information. With Twitter you get the news directly from the source, and the news reaches you more quickly and with fewer words. Also, newspapers are unlikely to cover niche topics, like the latest happenings in social enterprise law. 
  • Use for Work. I maintain two hashtags - #MGT2410 and #MGT6940 – for news tweets related to my two primary courses. I allow current students to follow me, though I do not require it nor do I post anything necessary for my classes. I follow mostly professional contacts and professional organizations on Twitter. Given the accounts that I follow, Twitter can be a relatively good place to get quick news. Finally, I have found that a number of C-level executives, lawyers, and well-known academics are easier to engage via Twitter than any other medium.

LinkedIN.

  • Benefits. In thinking about Steven Bainbridge’s question about LinkedIN, I had a difficult time thinking of many significant benefits. I see LinkedIN as a place to connect with professional contacts that you want to share less information than you share on Facebook. I rarely log into LinkedIN, but I haven’t deleted my account either, as the costs of being on the website are incredibly low. 
  • Costs. LinkedIN takes the least amount of my time among the various social media sites. I spend 0 to 30 minutes on LinkedIN most months. There does appear to be a fair bit of spam in the various work groups I have joined, but it is pretty easy to ignore by unsubscribing to group e-mail updates. 
  • Use for Work. LinkedIN seems to be my MBA students' preferred method of connecting, and the site is worthwhile just to stay connected to them. I belong to a number of work related LinkedIN groups, but, as mentioned, most have been overtaken by spammers, so I almost never read the shared content. 

Strava.

  • Benefits. Strava is a social media website for runners, cyclists, and swimmers. For me, Strava’s main purpose is as an online place to log my runs without annoying my friends on other social media websites. On Strava, I only have about 30 friends, all of whom are committed to fitness. The website is an incredibly good accountability tool, as those friends can see if you have been slacking for a few days, and some of them will even call you out. It is also nice to have a few people notice when you have a good race or workout. You can also borrow workout ideas from posts. 
  • Costs. I don't love that people can tell when you are out of town, based on the location of your runs, but with only 30 friends and the privacy settings set tight as to other users, this isn't a huge issue. Strava doesn't take much time. The routes automatically upload from my Garmin and the newsfeed isn't designed to keep you engaged with it. 
  • Use for Work. I don't really use Strava for work other than staying in touch with a couple attorney runner friends. 

Instagram, Pinterest, Etc. I never got into Instagram, Pinterest, or any other social media websites. Instagram does seem to be quite popular among my somewhat younger friends and students, but it also appears to be a giant time waster, so I am glad I never got hooked.

Feel free to share any comments or additional thoughts. 

July 7, 2017 in Business School, Current Affairs, Haskell Murray, Technology, Web/Tech | Permalink | Comments (3)

Friday, June 30, 2017

Summer Reading: The Moviegoer by Walker Percy

Download

While I am already looking forward to returning to the classroom in the fall, one of the reasons that I love summers is that I get to catch up on reading. It has been an embarrassingly long time since I have finished a fiction book, but I am committed to making fiction an increasing percentage of my reading.  

Percy's Moviegoer won the 1962 National Book Award. I have my brother Will to thank for the recommendation and for the book itself. The novel focuses on the life of a New Orleans area stockbroker "Binx" Bolling, and his search for meaning. I won't ruin the story for those who have not read it, but I was moved by the Binx's struggle against what he called the malaise and everydayness. Binx appears to be a pretty sad character, spending a good bit of time hiding from life in movie theaters and engaging in flings with his secretaries, but he can also inspire the reader to ask serious questions, engage in meaningful relationships, and live more intentionally. 

June 30, 2017 in Books, Haskell Murray, Philosophy, Psychology | Permalink | Comments (0)

Friday, June 23, 2017

Focus Group Experience

Recently, I participated in a focus group on running shoes for Brooks. A few years ago, I did something similar for New Balance

Brooks paid each participant $100 for 90 minutes. 

The group was well-facilitated, and the group members stayed incredibly engaged. The 90-minutes flew by.

The research Brooks was conducting on both shoe design and marketing was extremely qualitative. It was essentially a brainstorming session. I do think Brooks could have gotten more out of the time if they would have had everyone privately write down their own ideas first, as there were about three or four of the ten of us who dominated the discussion. 

While this type of focus group was not cheap---$1000 in payment plus renting the room plus travel for two employees from Seattle---it was surely a very small fraction of their production and marketing budget. And I do think Brooks got some valuable ideas. Brooks does this sort of thing all over the country, and their employees said that they do start to hear patterns in the responses. It is those patterns that Brooks acts on, as they can't possibly address every one-off comment. 

This focus group made me think that universities should consider similar focus groups with applicants and with local companies. I know a bit of this happens informally at most places, and perhaps it happens formally at some places, but I do wonder if it is done with the same regularity and intensity as for-profit firms like Brooks. I think the insights would be valuable, and even if the insights are poor, the organizing institution does get to explain itself (and show it really cares) to the focus group participants. 

June 23, 2017 in Business School, Haskell Murray, Law School, Marketing, Psychology, Sports | Permalink | Comments (0)

Friday, June 16, 2017

Building Brand Value through Building Community

Next week, I will write about my focus group experience with Brooks Running.

Last week, on Global Running Day, Brooks announced “the biggest athlete endorsement deal in sports history” saying that they want to endorse everyone who runs….with $1 and a chance to win Brooks running gear.

This would have made a decent April Fools Day joke, but as a serious attempt at building brand value, it is pretty weak.

Brooks would have done much better to follow the lead of Oiselle, a women's athletic apparel company that I have spoken and written about before in regard to their multi-level team of professional, semi-pro, and recreational athletes. The main differences between Brooks and Oiselle is that Oiselle provides value to the team members and creates shared experiences. Oiselle athletes get team gear (even though the recreational runners pay for the gear), and they get invited to numerous group events. Oiselle has state team leaders and helps connect the team members for training and races. The “birds”, as they call themselves, really seem to support each other.

Now, the Oiselle method is definitely more complicated, and it probably comes with various legal risks. For example, what if one the team leaders turns violent or what if a team member gets hit by a car on a run led by a team leader or what if someone gets a bit out of control at one of their camps or parties? (I am sure Oiselle has everyone sign waivers, but as we know, waivers don't always prevent costly litigation and liability). There is also a fair bit temporal and financial costs involved in creating the team singlet, sending out newsletters, updating social media, planning events, etc. But building real community and brand value is almost never easy. (And Oiselle is far from perfect and has its critics, but I applaud Oiselle's effort. That said, if they are still requiring the recreational athletes to both pay and only post photos of themselves on social media in Oiselle gear, that seems overly restrictive. If they are going for authentic, they should provide suggestions instead of mandates. With sponsored athletes, I better understand the restrictions, though even with sponsored athletes you can usually tell a difference between organic and forced marketing posts.)

Sadly, Brooks' “endorsement” isn’t about building community, rather it is a pretty transparent attempt to buy your e-mail address and lure potential customers for $1. (Also, I uncovered in the fine print that they limited the $1 payment to the first 20,000; they have over twice that many signed up already).

As I will write next week, I was impressed with the people running the Brooks focus group, but they didn’t ask us about this “endorsement” idea, and if they asked others about it, I think they got bad advice. Brooks might get a bit of press, and they will probably even get a fair number of email addresses from curious people, but I doubt they will get much of lasting value. 

[I wonder how many people who signed up read the fine print. For example, there is a Code of Conduct that will be sent to participants. Also, see the clause below the break seemed incredibly broad.]

Continue reading

June 16, 2017 in Business Associations, Haskell Murray, Marketing, Sports | Permalink | Comments (0)

Friday, June 9, 2017

IRONMAN Acquires Competitor Group

In August, 2015, Chinese conglomerate, Wanda Group, acquired IRONMAN (primarily known for its long distance triathlon races) from a private equity group for $650 million

Last Friday, IRONMAN/Wanda acquired Competitor Group (primarily known for the Rock 'n Roll Marathon and Half-Marathon series) for an undisclosed amount. 

To start, I had no idea organizing endurance sports had become such big business, but given the increasing popularity and the increasing entry fees, perhaps I should have known. 

Personally, I have mixed feelings about big corporations dominating endurance sports, which, previously, had been much less commercial. On one hand, because of their scale, larger corporations like Competitor Group can conduct their events in a very professional manner, produce slick event shirts, measure the courses precisely, host impressive expos before the races and impressive after-parties, maintain plenty of insurance, take proper precautions, and market effectively to bring new participants into the events.

On the other hand, the big corporations often seem focused on a single, financial line. They raise entry fees as high as they can and often seem to spend an incredible amount on marketing. The races organized by big corporations often lack the individual touch of local races. That said locally organized races are a mixed bag. Sometimes they are organized by complete amateurs, and their lack of experience or financial backing shows in things like poorly measured and marked courses. Other times, when organized by devotees of the sport, locally organized races can provide a superior event without the marketing, frills, and shiny gadgets. Perhaps there will be room all types of organizers, especially because the locally organizers are usually nonprofit operations, and therefore are a bit of a different animal.

This strategic acquisition by IRONMAN may be telling regarding the trajectory of races. The long distance races like the IRONMAN (2.4 mile swim, 112 mile bike, 26.2 mile run) had skyrocketed in popularity, but, while those races are still currently popular, I think that many people are starting to realize they don't have the time or the money (the entry fee is often over $500) for that kind of event. Competitor Group brings not only a portfolio of marathons (26.2 miles) to the table, but also half marathons (13.1 miles, which is growing in popularity), 5Ks (3.1 miles), and even 1 mile races. 

In any case, I do wish IRONMAN the best with this acquisition, and I hope they will consider all stakeholders as they move forward. 

June 9, 2017 in Corporate Governance, Haskell Murray, M&A, Private Equity, Sports | Permalink | Comments (2)

Friday, June 2, 2017

"Even Bank Robbers Can Tithe"

One of the most striking lines in Provost Jeff Van Duzer's talk at the Nashville Institute of Faith and Work a few months ago was his statement that "even bank robbers can tithe."

See a somewhat similar version of that talk here.

Jeff Van Duzer's point seemed to be that you cannot be a truly socially responsible company simply by giving some money to good causes. I think he was exactly right. He went on to explain that socially responsible businesses should focus on creating good products and good jobs. 

This week I was thinking about Jeff Van Duzer's talk when I considered, for about the one hundredth time, how to define social enterprises.

Think about Ben & Jerry's, a company that comes up at almost every social enterprise conference. While I can think of some good that ice cream does, I wonder if Ben & Jerry's main products are, on the whole, socially beneficial. We have a serious, deadly obesity problem in the country, and Ben & Jerry's products seem to be contributing to this problem. Perhaps Ben & Jerry's ice cream is more healthy than most options or uses more natural ingredients (I am unsure if this is true), but are Ben & Jerry's core products a net benefit to society? Perhaps Ben & Jerry's tip the scale in the social direction by providing good jobs with good benefits. However, Ben & Jerry's is best known for their giving and advocacy, which any business (no matter how socially destructive) could do.

The same arguments could be made against Hershey and Mars Corp., both of which are also well known for their focus on social responsibility. Are there certain industries that social enterprises should avoid altogether? Or should social enterprises enter all industries and try to make them incrementally better?

As a consumer, I am becoming more convinced that providing good products should among the very highest priorities. High quality products and thoughtful customer service is becoming increasingly difficult to find.

Given that I have two young children, Melissa & Doug toys come to mind as a company that is doing it right. Their products are durable and well-designed. Their products are designed to encourage Free Play, Creativity, Imagination, Learning, Discovery. Little Tikes is an older, but similar, company. I have never heard Melissa & Doug or Little Tikes referred to as "social enterprises," but, in my opinion, both companies benefit society much more than many of the frequently mentioned "social enterprises." 

June 2, 2017 in Corporations, CSR, Current Affairs, Haskell Murray, Social Enterprise | Permalink | Comments (5)

Friday, May 26, 2017

Nike Oregon Project and Morals Clauses

Logo

Last Friday, The New York Times ran a story on possible performance enhancing drug use inside the Nike Oregon Project.

The Nike Oregon Project is coached by running legend Alberto Salazar, who, by all accounts, is both incredibly competitive and dedicated to his work.

Among the athletes who are or have been associated with the Nike Oregon Project (and coached by Salazar )are gold medalist (in the 5000 & 10,000m in 2012 and 2016) Sir Mo Farah, gold medalist (in the 2016 1500m) Matt Centrowitz Jr., and silver medalist (in the 10,000m in 2012 and in the marathon in 2016) Galen Rupp. These three athletes have been the most dominant male distance runners for the U.S. over the last two Olympic cycles. 

Allegations of doping is nothing new for the Nike Oregon project coach and athletes. For example, Kara Goucher, U.S. Olympian and former member of the Nike Oregon Project herself, has been extremely vocal with allegations against the group for years. The Times of London published some of the same allegations against the Nike Oregon Project a few months before The New York Times. FloTrack has released what it thinks is the full report from USADA (US Anti-Doping Agency). The allegations are not only of doping, but of drug use that may have engaged the athletes' long-term health

I haven't seen any of the contracts for the Nike Oregon Project, but I would be willing to wager they contain morals clauses, allowing Nike to terminate the contracts, for cause, if the coach or athletes' actions tarnish Nike's brand. Often these morals clauses do not even require a finding of liability or guilt - often the mere allegations are enough. 

In this case, however, given the success of these athletes and coach, I expect Nike to wait to see if the allegations are confirmed. If, however, these athletes or coach were less popular and/or underperforming, the morals clause might have come into play earlier. These allegations do already appear to be hurting Nike's reputation among my friends who follow track & field. Sadly, however, I imagine that most of Nike's customers are more aware of the medals won by the athletes than the current allegations made against the athletes and coach.

This summer, I am working on a paper on morals clauses, including a discussion on when these clauses may be unenforceable, so I will continue to follow this story and may update with new information. 

May 26, 2017 in Current Affairs, Ethics, Haskell Murray, Sports | Permalink | Comments (0)

Monday, May 22, 2017

Shareholder Wealth Maximization at the Firm Level

I ask my Advanced Business Associations students to recognize and process theory and policy and relate them to doctrine at the practical level.  This is, as most of you will recognize, a tall order of business for students who have just recently learned what business associations law is and may not yet (at the time they take the course) have applied the law in a practical context outside the classroom.  (The course is open to 2L and 3L students who have already taken Business Associations.)

So, when it came time to lionize my friends Lyman Johnson and David Millon at a symposium honoring their work (which, as you may recall, I first heralded on the BLPB a year ago and wrote a bit about back in October), I decided to put my scholarship pen (keyboard) where my teaching mouth is.  My goal for the symposium was to write something that linked theory and policy through doctrine to law practice and, at the same time, incorporated Lyman's and David's work. The essay I produced in fulfillment of these objectives was recently released and posted to SSRN.  I excerpted from it in my post on Saturday.  The full SSRN abstract follows.

In context, corporate law is often credited with creating, hewing to, or reinforcing a shareholder wealth maximization norm. The now infamous opinion in Dodge v. Ford Motor Co. describes the norm in a relatively bald and narrow way: “A business corporation is organized and carried on primarily for the profit of the stockholders." As a matter of theory and policy, commentators from the academy (law and business) and practice (lawyers and judges) have taken various views on this asserted norm—ranging from characterizing the norm as nonexistent or oversimplified to maintaining it as simple fact.

In an effort to broaden the conversation about the shareholder wealth maximization norm in an applied context, this essay describes shareholder wealth maximization under various state laws (in and outside Delaware) as a function of firm-level corporate governance—corporate law statutes, decisional law interpreting and filling gaps in that statutory law, and corporate charter and bylaw provisions—as applicable to both publicly held and privately held corporations in a variety of states. In this overall context, the essay considers the possibility that holders of shares in for-profit corporations may desire to maximize overall utility in their shareholdings of a particular firm, rather than merely the financial wealth arising from those holdings. To accomplish its purpose, the essay first briefly and generally addresses shareholder wealth maximization as a function of applicable statutory and decisional law and as a matter of private ordering (collecting, synthesizing, and characterizing, in each case, points made in the extant literature) before suggesting the broad implications of that analysis for corporate governance and shareholder wealth maximization and concluding. Ultimately, the essay makes a case for a more nuanced look at the shareholder wealth maximization norm. Given differences in doctrine and public policy among the states and variance in that doctrine and public policy among public, private, and statutory close or closely held corporations within individual states, answers to open questions are likely to (and should) depend on individualized facts assessed through the lens of specific statutory and decisional law and applicable public policy.

I fear that this short piece does not do the subject (or Lyman and David's amazing work) justice.  But my biggest regret is that the essay went to press without the addition of thanks to two special folks in my author's footnote.  I want to call those two colleagues out here.  

Continue reading

May 22, 2017 in Business Associations, Corporate Governance, Corporations, Haskell Murray, Joan Heminway, Teaching | Permalink | Comments (2)

Friday, May 19, 2017

Summer Reading: Visions of Vocation by Steven Garber

In last week’s post, I mentioned Dr. Steven Garber. Recently, I finished his 2014 book Visions of Vocation: Common Grace for the Common Good. This book is among a handful of  books in the faith & work area that I have read over the past few months.

Visions of Vocation is beautifully written, lyrical and rich. Garber’s weaves philosophy, literature, and personal stories throughout the book’s 255 pages.

Garber’s thesis in this talk, which echoes in much of his work, is that “vocation is integral, not incidental to the Missio Dei (mission of God)." Garber says the book Visions of Vocation grew out of these questions: Can you know the world and still love the world? & What will you do with what you know? The first question hits home, as the flaws of jobs and people often become more vivid over time.  After the second question, Garber shows how stoicism and cynicism are unsatisfying responses.  

Garber offers no easy answers, which is, perhaps, on purpose. These are difficult questions in a difficult area, and easy answers may not exist. I finished the book still hoping for some clear principles for integrating faith and work, but maybe the stirring questions were the point. The stories of folks at International Justice Mission and Elevation Burger, among others, do help in thinking about how faith and work fit together, as do the references to Walker Percy and Wendell Berry.

Again, this is not a book that provides a few simple steps or quick takeaways, but for a number of days after finishing it, I am still pondering its contents. For that reason, I think the book was well worth reading.

May 19, 2017 in Entrepreneurship, Haskell Murray, Religion, Social Enterprise | Permalink | Comments (0)

Friday, May 12, 2017

Mutuality in Business - University of Oxford & Mars Corporation

From a Facebook post by Dr. Steven Garber, I recently learned of the mutuality in business project by Mars Corporation and University of Oxford.

Quoting from the website:

A collaborative project with the Mars Corporation exploring mutuality as a new principle for organising business. Mutuality - a principle that emphasises the fair distribution of the burdens and benefits of a firm’s activities - is seen as a promising new organising value with the potential to strengthen relationships and improve sustainability.

"Mutuality in business" seems to be yet another term for social responsibility in business. We already have so many terms for the social business concept - blended value, business for good, CSR, creative capitalism, multi-stakeholder governance, natural capitalism, shared value capitalism, social entrepreneurship, social enterprise, social innovation, sustainability, triple bottom line. Many people are trying to create, differentiate, and mark their corner in this social business space.

Despite the addition of yet another social business term, the information at the website is interesting, especially the research projects

May 12, 2017 in Business Associations, Business School, CSR, Haskell Murray, Social Enterprise | Permalink | Comments (0)

Friday, May 5, 2017

Carson-Newman University - Business Law Professor Position

Job description

Carson-Newman University is a leading Christian Liberal Arts institution, recently ranked Best Undergraduate Teaching in the South by U.S. News & World Report and received the President’s Award for Community Service. Carson-Newman emphasizes academic excellence through innovative teaching, advising, mentoring of students, and service learning. The campus is located at the foothills of the Smoky Mountains and is surrounded by beautiful lakes. More information is available from the University website, www.cn.edu.

Carson-Newman University invites applicants for an Assistant, Associate, or Full Professor of Business Law, Management, and/or Finance in the Department of Business. The position is a full-time, 9-month, tenure-track position, to begin August 2017, or January 2018.

Candidates for the position must have a minimum of a Juris Doctorate or a terminal degree in a related business field with at least 18 graduate semester hours in law. Candidates with business and/or teaching experience are preferred.

Carson-Newman employs faculty and staff who are actively supportive, through a local church, of its aim as a university with a Christian commitment.

Candidates for the position of Assistant, Associate, or Full Professor will teach, advise, and mentor students, participate in the campus community through committee work, conduct appropriate research, and other work as assigned by the Department Chair or Provost.

The rank and salary will be commensurate with educational preparation and experience. Group health insurance as well as a 401K retirement plan are available on a participating basis.

How to apply

Only complete application packets will be considered. A complete application packet will include a letter of interest, a statement of Christian faith, a statement of teaching philosophy, references, and current vitae. Please send the packet electronically to:

Email: facultyrecruiting@cn.edu

Human Resources
Attn: Faculty Recruiting
Carson-Newman University
Jefferson City, TN 37760

www.cn.edu

CARSON-NEWMAN UNIVERSITY IS AN EQUAL OPPORTUNITY EMPLOYER

May 5, 2017 in Business School, Haskell Murray, Jobs | Permalink | Comments (0)