Jan 06
AndrewBusiness Apple, iTunes
Apple Inc. announced a new pricing tier for songs purchased through iTunes. The company will sell some songs for as little as $.69 and others for as much as $1.29. The price point will depend on the company releasing the music.
In addition to changing what was previously a fixed price of $.99 (not counting the foray into iTunes Plus tracks) Apple plans to release as much music as possible free of digital rights management (DRM) which in the past prevented users from copying songs on to other users’ iPods. This will make Apple more competitive with Amazon, which sells all its digital tracks without copy protection.
Dec 11
AndrewBusiness, Society and Culture admissions, applying for college, College
Question: What is an admissions hook?
Answer: It is an unwritten rule that some spots in the next class of first year students is saved for students with what is known in admissions lingo as “a hook.” Most colleges would rather not make a big deal about it because they want to encourage you to apply (even if only to turn you away.) Many students with a hook are admitted under different criteria than the average applicant. So the college will judge their application separately, and by definition more favorably, from the pool of mostly everybody else.
If it all sounds a little too distasteful for you, consider that preferential treatment of certain applicants is not really that big a deal. The colleges make it into something sinister by pretending that all applicants are created equal. Instead of denying that some applicants have a better chance of being accepted, they should be honest about it.
Why don’t colleges admit it? Well, some might if you ask. But the truth is colleges feed off the competition for acceptance letters, particularly elite institutions. Colleges that want to be perceived as selective need to have a high number of applications so that the number of students who are rejected is high. And that’s because, for the most part, incoming first year classes are the same size from year to year. So the only way to seem selective is to send out more rejection letters.
Who Has the Hook?
Recruited athletes.
Children of alumni.
Children of donors.
How much of an advantage being in one of these categories depends on the school. Some college actively recruit athletes. Other college actively recruit children of alumni. In many cases, these special applicants are accepted outside the normal admissions process. And that means they are not judged by the same criteria that you are.
Generally speaking, having a hook means you get special attention during the admissions process. Without a hook, you are simply grouped with many of the other applicants who have no special connection to the college. It means your chances of getting may be less because there are more applicants to compete with for admissions in the general group.
Unfair or Unfortunate?
Is the system of preference unfair or is it unfortunate? Actually, it is neither. Even though colleges strive to treat everyone fairly in the admissions process, the fact is your application is judged on subjective criteria. An admissions counselor reads and judges your essay (often in less than two minutes.) You are evaluated partially on the admissions interview, and even how many times you visited campus before you applied. All of these things factor in to your application. Having a hook does give you special consideration, but there are many other factors that make your application more or less appealing. And in fact, one of the easiest ways to get special consideration is to genuinely show your interest in the college. Maybe that means applying early decision or early action. Maybe that means visiting the campus and scheduling an interview with an admissions counselor during your visit.
More than anything, your interest in a school pays off when the acceptance letters go out. So don’t worry about who has the hook and who doesn’t, just use whatever means you have available to sell yourself and you will stand out in the crowd.
Dec 05
AndrewBusiness, Society and Culture admissions, applying for college, College
Question: Doesn’t it seem like everybody talks about getting into Harvard, Princeton, or one of the other so-called “elite” universities?
Answer: Wait, you don’t?
A school should rarely be judged by its ranking. Sure Princeton University offers an unparalleled educational opportunity, but its status as an elite and venerable institution at the top of the college rankings, along with other Ivy League schools like Harvard and Yale (which make up No. 1, 2, and 3 respectively) 1, is as much about its long history, its academic strength, and a carefully crafted marketing plan.
No one should question the caliber of education at such institutions. National universities can offer a wonderful college experience and a superior education but so can many state colleges, small liberal arts schools, community colleges and colleges abroad. National recognition on its own doesn’t make a school’s reputation. Rankings are as much about the hype as they are about assessing the strengths and weaknesses of the college.
College rankings can only tell you so much. U.S. News & World Report rankings for example, set forth at the premier college ranking in the United States, are derived from a mathematical formula. The college submits a data set which is plugged into the formula by U.S. News which ranks the colleges in order from best to worst (or worse yet: unranked.) The problem with relying on rankings to make your college selection: U.S. News decides what’s important in your college education.
The great myth of college rankings is that we all want to get into the elite colleges. It is a perception that is wholeheartedly encouraged by the schools themselves, and it is a perception that drives the rankings system even as other schools, which can provide a similar quality education, lose out because they don’t rank as high. If name recognition is important to you, and be honest, for some, the name of the school is its academic reputation, then you don’t need the college rankings to tell which are the best colleges. And for the rest of us, the rankings take away the most important part of selecting a college, deciding what’s important in picking a college.
To U.S. News credit, they suggest using their rankings as only one tool. But their marketing suggests that this a feint. They want you to believe wholeheartedly in the ranking system and go to great lengths to convince you their methodology is flawless. And if you buy into the rankings, you must also accept that the highest ranked schools provide the best education. The fact is, though, that rankings are influenced by the national recognition of colleges. There are plenty of schools you may not have heard of where you can get a quality education.
While colleges rankings can be used as one tool, the trick is to not make your entire decision about college based on what the rankings tell you is important. Make your own list. Make sure you consult other sources of information. Check out the college’s website. Take a visit to campus during the semester and talk to current students. Not only will you be able to see what the campus is like, but you will have a better idea of whether it fits you. Then you can read the rankings and see if being at the top really matters.
1 U.S. News & World Report, National Universities ranking, 2008 Edition
Dec 03
AndrewBusiness admissions, choosing a college, College
Question: Is there any real difference between a state education and a private education?
The most noticeable difference between private colleges and public colleges is the cost. Tuition at private colleges is generally much higher than at public colleges. So maybe your question should be “is there any evidence that you get your money’s worth paying private tuition for a bachelor’s degree?”
The answer really depends on what is important to you in choosing a college. Here are three possible considerations:
1) A college’s reputation
2) A college’s academic strengths
3) A college’s social environment
A lot of students (or their parents) are very worried about a school’s reputation, and that is why it is worth it to them to pay tuition at a private school. There are a very small number of colleges whose name alone carries a lot of weight (like Harvard University). Are there any state schools with similar credibility on name alone? (It’s not a empty question, can you name any?)
But if a college’s academic strengths are important (the “quality of your education”) or the social environment, then you have to judge each college on its own merits. Colleges individually have very unique strengths to offer in terms of academics and social life. But here is where money does play a factor giving some private schools an advantage.
Public colleges are overseen by the state, in particular, the school’s budget is and funding are state controlled. Unfortunately, that means that if the state has budget problems, the college has budget problems.
Private colleges are funded entirely by tuition dollars, and offset by the endowment (a combination of investments and donations.) Private schools are typically more autonomous than public schools in how money is spent. Lately,you may have noticed that even the elite universities are cutting back in wake of the economic crisis. But the fact is that those universities have a lot more control over where and how their money is spent. And they are committed to maintaining a particular reputation, economic crisis or not. That means they may continue to build a new student center, or new residence halls, even when it might be economically viable to continue to expand.
You can find a good choice among public colleges and private colleges. If cost is a strong concern, you might start with a state school because generally tuition is lower than at private colleges. Beyond that, you will have to evaluate each college on its own merits.
Nov 29
AndrewBusiness, Society and Culture Black Friday, Holiday
Question: Did you hear that a Wal-Mart employee got trampled by an out of control crowd of 2,000 looking for discounts on Black Friday?
Answer: Yeah, I read the AP news story. A Long Island Wal-Mart employee who was assigned to open the doors at 5 a.m. on Black Friday was then trampled by the ensuing mob of shoppers who apparently ran over him without a second thought. Other employees attempt to assist him were likewise knocked about. The police responded and shut the store down to protests by the shoppers who seemingly (at least given how the story was reported) were less than sympathetic that someone had just died.
The story wouldn’t be funny at all but it was a little snarky of the beat writer to include a list of items that were for sale in the Wal Mart. “Dozens of store employees trying to fight their way out to help Damour were also getting trampled by the crowd, Fleming said.
Items on sale at the store included…”
A human life isn’t worth a $9 The Incredible Hulk DVD.
Nov 12
AndrewBusiness fashion, shoes
A sign of troubled economic times, or just the decline of a worn and tired fad? Either way, Crocs Inc. reported plunging sales and high restructuring costs as its stock shares took a massive dive.
The company, founded in 2002, manufactures the shoes known as Crocs, clunky, neon-colored sandals touted for their comfort. A fashion fad for all of 4 years, the company’s sales have been on the decline recently, undoubtedly because people finally realized that the shoes are supremely ugly. There have also been reports that Crocs cause injuries and buzz about a squabble in Europe over the design patent.
The company is in survival mode, trying to cut manufacturing costs in order to meet plummeting sales projections.
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