Chasing The Stars
What some business schools have done to land--or keep--top faculty in the past year
-- COLUMBIA used three of its schools--business, the school of international public affairs, and the college of arts and sciences--to put together a package to woo finance professor Robert Hodrick, his wife--and her ex-husband. They all had been teaching at Northwestern. Because of child-custody arrangements, to get Hodrick, Columbia had to land them all.
-- The UNIVERSITY OF CHICAGO hired an immigration lawyer to argue that newly hired junior finance professor Nicholas Barberis, a native of Britain, was a certified ``genius'' who deserved a special visa from the U.S. government. The school won the case.
-- When Northwestern made a run at CARNEGIE MELLON, finance professor Chester S. Spatt, the Pittsburgh school realized it didn't have the funds to compete. So it raised $500,000 for an endowed chair for Spatt, who stuck around to occupy it.
-- Coveting its neighbor's economist, Columbia offered NEW YORK UNIVERSITY professor David Backus a 70% raise--but Backus stayed put after NYU stepped up with a similar counteroffer.
Updated June 14, 1997 by bwwebmaster
Copyright 1996, Bloomberg L.P.