My friend and fellow MBA student, Keven McGhan, has graciously agreed to fill in for me once in a while with the blog. Our field trip today to the European Central Bank seemed like the perfect opportunity, as Keven wrote a paper on the subject for the benefit of the entire group. (Each student on the trip was required to write and distribute a paper that provided background information on one of several topics related to the various places and activities we would be taking in on the trip.)
(Keven) Thursday morning provided an opportunity to learn from the expertise and experience of Professor Klein and her brother. This dynamic duo presented their story, the Rau Case. Thank you for your candid remarks and for teaching us the importance of communication before and during difficult times.
Following three days of intense study and preparation, we were called upon to present our case studies. The case revolved around the idea of private equity firms taking advantage of unique opportunities to buy family businesses in Germany and flip them for short term profits. Each group represented a different stakeholder, union, private equity firm, or government ministry, and advocated for that stakeholder. The quality of the presentations was very high. Insightful and creative solutions were provided. My colleagues embraced the project and maximized the learning experience thanks to you all.
As we prepare to travel to our next location we send out a big thank-you to our excellent hosts at WHU.
Brenda, Anna, Paul, Lindsey, and Arrakis presenting
In the evening we took advantage of an opportunity to unwind. Various groups enjoyed different options to relax and enjoy bonding experiences the group is definitely gelled.
What’s going on with Greece? Timing could not have been better for a trip to the European Central Bank. With Greece on the brink of bankruptcy, The European Union is working to implement solutions but the process will be painful. Stock markets around the world have reacted definitively with US markets experiencing the largest single day point loss in history.
Lindsey, Megan, Kaila, Arrakis, Anna, Brad, Ruth, and Cody
Katrina, Katherine, Hana, Kiersten, Manj, Angela, Linda, Haily, and Brenda
Today we sat in the very conference room where European Central Bank board members meet the 1st and 3rd Thursday of each month to establish and implement monetary policy on behalf of the member nations.
View from the 36-floor conference room
Kaily, Anna, Matt, Lindsey, and Brad
After clearing security, much like an airport, we were fortunate to experience two one hour presentations. The first from Niels Bὓmemann, Principal Press Officer, about the history and operation of the ECB and a second by José Marin, Head of Euro Area Macroeconomics, about the analytical tools and methods used to establish direction for monetary policy. In answering questions from students, the presenters gave the impression that the advantages for Greece of belonging to the EU, in their current situation, outweigh the disadvantages. The road ahead for Greece, and probably Portugal and Spain, will be difficult.
Cheers for now.
Keven McGhan
(Tabea) One other very important event took place today. We celebrated the birthday of our brave leader, Peter. All the best to you, from the entire group!!!
Birthday boy
