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Wednesday, March 12, 2003 |
Broadway Strike Ends. The curtains went up on Broadway musicals on Tuesday night after producers and musicians reached a settlement, ending a four-day strike. By Robin Pogrebin and Steven Greenhouse. [New York Times: Business]
Again, more drama about people fighting over money!
The quote of the article:
"You won't be able to bring all the color," he added. "It's like saying to Van Gogh, `Sorry, no orange.' "
I do have a vested interest in this one, though; one of my best friends plays in a long-running show. I haven't spoken to her about this yet, but when I do I'll share the insider view.
5:23:39 PM 
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HBO Countersues 'Sopranos' Star. HBO escalated its salary war with James Gandolfini, the star of "The Sopranos," countersuing him for more than $100 million. By Bill Carter. [New York Times: Business]
Juicy, petty fight over big money, between a big corporation and a big mob star. I love following the drama.
5:11:04 PM
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Finance is teaching many interesting lessons, and I hope that I am not the only person who finds this to be a compelling course. We were asked to read a classic Friedrich von Hayek article, "The Use of Knowledge in Society" (1945), and most found it tough going. Personally, if you complain about reading Hayek I think you are an intellectual lightweight and deserve to suffer, but I digress....
Hayek makes many great points, but his thesis is that economic knowledge is not centralizable. This stands in contrast to scientific knowledge, which most people regard as centralizable and understandable. Economic knowledge is as such because it is inherently context-dependent, whereas scientific knowledge is not.
He goes on to say that actors who profit from their superior knowledge should be commended, not regarded as "profiteers" or as people who "take advantage" of others. It is their very ability to create value out of opportunity that drives the advancement of our society. I myself have fallen prey to thinking that, at times, people were "taking advantage" of their superior knowledge, and now I must rethink my positions.
Change. Change is good. More change is better. I'm glad I am learning.
1:38:01 PM
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Harald Hau's Quotes of the Day from Corporate Finance
Harald Hau is our professor for Corporate Finance. A fearsome German, whose intellect frankly strikes fear amongst the amphizens, he is nevertheless witty in a way that is hysterically funny, though you don't dare laugh out loud. Here are his quotes; for maximum effect, remember to say them loudly, and with a slight German accent.
[when describing NPV in particularly complex terms, and why it is the holy grail of finance] "If you understand nothing of the second part of today's session, it is not so tragic."
[when explaining how price signals serve to optimize production across many different producers who do not communicate with each other] "Is that clear, or did I already lose someone?" Student: "Could you explain that again, this time without using the word 'vector'?"
1:35:09 PM
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The horror of blimps. Make sure to swallow your milk before reading, or it will all come out of your nose.
1:11:46 PM
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© Copyright 2003 Lucky Goldstar.
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