Brazil’s economy is undergoing the worst recession since 1901, just as the country gears up for this summer’s Rio Olympics. The games face deep cuts, and now the mosquito-born Zika virus creates another threat.
SMITH BRAINTRUST – Haier Group’s recent $5.4 billion purchase of General Electric’s appliance unit is expected expand the China-based manufacturer’s market share and distribution channels and potentially boost its credibility among U.S. consumers.
SMITH BRAIN TRUST — Headlines have been gloomy for Brazil in recent weeks. “Worst Recession Since 1901.” “Rio Olympics Face Deep Cuts.” “Pain to Deepen in 2016.” Even the samba has turned sober for the Carnival that will start on Feb.
SMITH BRAIN TRUST -- Twitter's new CEO, Jack Dorsey, is wasting no time in making changes: This week the social networking company laid off 336 people, or 8 percent of its workforce. He also recently introduced "Moments," curated edited collections of tweets intended to attract new users; and made new overtures to advertisers.
SMITH BRAIN TRUST -- Arrests and resignations have kept Petrobras in the news while a criminal investigation unfolds, but don’t assume a gloomy forecast for Brazil’s state-controlled oil company.
SMITH BRAIN TRUST -- You know you have a corruption problem when Brazilian prosecutors catch you with nearly $24 million in bribe money stashed in a hidden Monaco account. Such stories have become common at Petrobras, a state-controlled oil company engulfed in an 18-month investigation that already has led to 80 arrests and put previously untouchable powerbrokers on alert. Even Brazilian President Dilma Rousseff remains vulnerable.
Paulo takes learning beyond classroom walls. Paulo Prochno, Clinical Professor, has taken hundreds of MBAs to South America through his Doing Business in Brazil course. With his infectious energy and experience in consulting for well-known Brazilian companies, he is a student favorite and a model for enhancing the academic experience with global opportunities.
Pratik Dixit BS ’13 (finance, information systems) could have chosen a glamorous study-abroad locale such as Amsterdam, Dubai or Paris. Instead, he jumped at a 12-day consulting opportunity in rural Nicaragua. Calling it a “perfect blend of service and business,” Dixit says, “Having this experience on my resume helped me say I’ve done real consulting work. … Companies are very impressed by that.” Deloitte evidently was — Dixit has been working there as a consultant since graduation.