NEWS
TO
KNOW
News from the New York Times DealBook.
Senators introduce a bipartisan proposal for A.I. regulation
Richard Blumenthal, Democrat of Connecticut, and Josh Hawley, Republican of Missouri, will put forward legislation that would require licenses for and audits of artificial intelligence, and create a new government watchdog. It’s the latest step by a Washington grappling with A.I. Congressional leaders will hear more from tech executives on the subject next week.
Goldman Sachs’s C.E.O. pushes back against critics
David Solomon defended his sometimes turbulent tenure as leader of the Wall Street bank in an interview with CNBC, amid lagging performance and others carping about his track record; “I don’t recognize the caricature that is painted of me,” he said. Meanwhile, Goldman is planning to lay off more employees, according to The Financial Times.
The S.E.C. is reportedly looking into Ryan Cohen’s trades in Bed Bath & Beyond
A focus of the regulator’s inquiry is Cohen’s investing of $120 million in the struggling housewares retailer and then abruptly selling his stake days after publicly praising the company, according to The Wall Street Journal. Shareholders have already sued the billionaire, accusing him of a pump-and-dump scheme.
Walmart is said to cut pay for some new workers
The retail giant will pay most new hourly workers the lowest possible wage for their store, abandoning a system in which some positions were paid more than others from the start, The Wall Street Journal reports. It’s another sign of companies feeling less pressure to offer higher pay to attract workers as labor markets cool.
CULVERHOUSE IN
THE NEWS
College news from around the world.
Culverhouse Faculty Team Makes INFORMS Finals for Analytical Pipeline to Combat Sex Trafficking
A Culverhouse team consisting of ISM faculty members Drs. Nickolas K. Freeman, Gregory J. Bott, Burcu B. Keskin, Jason Parton, and James J. Cochran placed second in the 2023 INFORMS Innovative Applications in Analytics Award (IAAA) competition in April with their research, “Analytical Pipeline for Identifying Potential Sex Trafficking Victims in Commercial Sex Ad Data.”
Parth Venkat Publishes Article in MIT Sloan Management Review
An article by Culverhouse's Parth Venkat and collaborators, “The Case Against Restricting Stock Buybacks,” was featured in MIT Sloan Management Review’s Research Highlight section in July. The researchers studied whether stock buybacks are as bad as they’re made out to be.
Todd DeZoort Wins American Accounting Association 2023 Best Research Paper Award
In August, Todd DeZoort received the 2023 Best Research Paper Award from the AAA's Forensic Accounting Section for "The Effects of Cognitive Bias on Fraud Examiner Judgments and Decisions” (co-authored with Rich Brody and Bret Hood).
QUOTE OF
THE WEEK
“People who think too much before they act don't act too much."
--Jimmy Buffett, late billionaire musician and businessman