Wednesday, December 26, 2007

Microfinance Has Macro Impact

"Most people in the world never get to unwrap the gift they carry with them and then we say they're poor people and have pity on them. It's not them, it is the way we built ourselves, our system..." - Muhammad Yunus

According to Matthew Swibel at, “Microfinance has become a buzzword of the decade, raising the provocative notion that even philanthropy aimed at alleviating poverty can be profitable. Instead of merely writing a check (then writing it off), why not make a tidy profit from a short-term, high-interest loan, most for under $200, so that a Mexican seamstress may buy a new sewing machine? Billionaires, global leaders and Nobel Prize recipients are hailing these direct loans to uncollateralized would-be entrepreneurs as a way to lift them out of poverty while creating self-sustaining businesses.”

In a recent online list, economist Muhammad Yunus was listed as one of the “stars” of the Microfinance movement. Yunus won the 2006 Nobel Peace Prize for his efforts to fight poverty through micro-credit, and has essentially been dubbed "the father of microfinance." His model of lending small sums to people too poor to qualify for traditional bank loans has been copies globally and has become the basis for a new and growing private-equity industry.

eClips captured a recent lecture given by Yunus where he discussed his background and how he came to create the concept of microfinance. He also shared his belief that society has to give all people the ability to reach their potential.

View one of Yunus' clips below:

Thursday, December 20, 2007

eClips Offers Sound Advice for Job Hunters

eClips recently began offering three different series of free podcasts!

Sound Advice is a series hosted by Kirsten Barker '92. This series features "the best of" eClips in 5-15 min. podcasts that give you pointed insight from multiple experts and are organized by topic for easy search. Sound Advice is your personal business coach sitting by your side on your commute or any other time you need the power of the voice.

Lessons Learned is a series hosted by Cornell professor Deborah Streeter. In this series, "the Professor is in" during 10-20 min. podcasts that peel back the onion and get to the heart of the issue in a format that is edutaining. Lessons Learned share the insight of many in the context of a case study. Real people talking about real problems faced and real opportunities captured. This is a great tool to exercise your mind.

eClips Uncut are a series that focus on "the journey". These 20+ min. podcasts let you wrap your mind and heart around the experiences of those business people and entrepreneurs who captivate you and motivate you. The emotions of the highs and lows are captured in a way that not only shares the experience but moves the soul. You won't help but find a nugget of truth you will write down and carry with you on your personal journey.

The Cornell Chronicle recently published a piece on a specific subset of the Sound Advice seies that caters to undergraduate students who are looking to land their first job. Specific career-oriented podcasts include:

We hope you enjoy the various series!

Wednesday, December 12, 2007

Cornell Is (Ac)Counting Its Blessings

Cornell University's Undergraduate Business Program in the College of Agriculture and Life Sciences will now offer a new concentration in accounting thanks to the $800,000 gift from Ernst & Young.

"Because of the hard work of Cornell alumni Jerry Goldman '72 and Gary Kozlowski '89 and the generosity of the Ernst & Young Foundation and many Cornell alumni at Ernst & Young, the college will be able to bolster its course offerings to meet the growing expectations of its students, employers and alumni," says William Lesser, the Susan Eckert Lynch Professor of Science and Business and chair of the Department of Applied Economics and Management.

eClips had the opportunity to sit down with Jerry Goldman and learn a bit more about his experiences at Ernst and Young. Listen to the clip below where Goldman shares that anyone who plans on being in the business world needs to have an understanding of accounting basics...

To hear more from the interview, click here to access Jerry Goldman's comments in eClips.

To read more about this initiative, click hear to access the Cornell Chronicle article.

Monday, December 10, 2007

Ted Teng Speaks With eClips

"In the corporate environment there are many, many opportunities to be entrepreneurial."

- Ted Teng

Ted Teng is the Principal and CEO Prime Opus Partners, LP. Prior to this new entrepreneurial venture, he was president and chief operating officer of Wyndham International. With more than $1.5 billion in annual revenue, Wyndham's portfolio included more than 190 properties with more than 50,000 guest rooms.

During his interview with eClips, Teng discussed his experiences in the hotel industry and shared thoughts on his new expereinces as an entrepreneur. Specifically, he discussed the differences between being a professional in a corporate setting versus being an entrepreneur and how one can be entrepreneurial in both roles.

Listen to the clip below where Teng shares a personal experience where he exhibited his entrepreneurial nature in the corporate setting...

To hear more from the interview, click here to access Ted Teng's comments in eClips.