Word: macavoy
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...transformed from placid, tightly regulated industries into volatile hotbeds of competition. Many of the results have been glowing examples of a free market at work: lower prices, greater efficiency and more choices for consumers. "Across the board, we are much better off with deregulation than without it," says Paul MacAvoy, dean of the graduate school of management at the University of Rochester...
...University of Rochester, Paul MacAvoy, 49, a former Yale professor and member of President Ford's Council of Economic Advisers, believes that business-school teaching methods "have lost relevance to the real world." He argues that Harvard's famed case-study approach, in which students examine actual management situations, helped build broad knowledge but little feel for the gritty problems of running a plant. MacAvoy says students too often "get bogged down in the big picture." What is needed, he believes, are not generalists but specialists in fields like capital management. He foresees that as "the hottest topic...
...October 6, police officers kicked open Neil MacAvoy's door at Alpha Delta Phi fraternity after he allegedly received a registered mail package containing hashish, police said...
...team of about a dozen officials, including agents of the Santa Clara County Narcotics Bureau, the Federal Drug Enforcement Agency, the U.S. Postal Service and Stanford Police went to the fraternity house. They ordered MacAvoy to open his door, but when he did not respond after 20 seconds, the officers forced their way into the room, according to police...
...stock market has made the shares of hundreds of American corporations irresistible bargains. The Dow Jones average now stands no higher than it did more than 16 years ago. But inflation has inexorably driven up the value of industrial plants, equipment and other assets. Says Yale Economist Paul MacAvoy: "Market values of corporate shares are drastically out of line with the replacement cost of corporate assets or the long-term market values of those shares...