| Completion of Barret Banking School will earn six credit hours toward MBA at ASU
The College of Business at Arkansas State University in Jonesboro has entered into an agreement with the Paul W. Barret School of Banking in Memphis to award six credit hours toward the master of business administration degree to individuals who complete the Barret Banking School program. Harold Perrin, who serves on the McAdams Frierson Chair of Bank Management Advisory Board at ASU, was instrumental in bringing the two institutions together. Perrin is also a former member of the ASU Board of Trustees and a faculty member at the Barret School of Banking. Chris Kelley, executive director for the Barret Banking School, stated that this agreement will provide recruiting benefits for both institutions. Dr. David Kern, who serves as McAdams Frierson Chair of Bank Management at ASU, added that "this agreement provides an excellent opportunity for bankers in our region who want to pursue an MBA degree.
Business Highlights
Wall Street resumed its slide Monday as investors absorbed a gloomy outlook for the banking sector as well as bleak news about housing. The major stock market indexes each fell more than 1.5 percent, with the Dow Jones industrial average giving up more than 200 points. .
Business Briefing
Wall Street resumed its slide Monday as Wall Street absorbed a gloomy outlook for the banking sector.
Concerns about banking dominated the session, including Goldman Sachs Group Inc.'s downgrade of large banks, and its estimate that Citigroup Inc. would have to write down $15 billion.
The Dow industrials fell 218.35, or 1.66 percent, to 12,958.44. The S&P 500 index fell 25.47, or 1.75 percent, to 1,433.27, and the Nasdaq composite index fell 43.86, or 1.66 percent, to 2,593.38.
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Chevy Chase Cuts 300 Jobs, Bank Hours in Housing Lag
Chevy Chase Bank is laying off more than 300 employees as it cuts back its banking hours and adjusts to lower mortgage demand brought on by the housing market slowdown, bank officials said. More than 200 of the layoffs come from a change in banking hours. Chevy Chase, based in Bethesda, ramped up its evening banking hours and added Saturday and Sunday hours over the past two years as it sought to draw more customers and compete against other banks in the region, such as Bank of America, SunTrust and Wachovia. .
Taiwan Post Secures Business Continuity With Nortel Metro Ethernet Solution
Taiwan Post, the largest postal, banking and insurance services provider in Taiwan, will ensure customers will continue to be served and catastrophic failure to business operations averted in the event of disaster through a Nortel Metro Ethernet solution. Taiwan Post is ensuring business continuity with Metro Ethernet technology by enabling real-time information backup, access and recovery. In addition to business continuity, Taiwan Post is increasing the effectiveness of its operations by converging multiple existing networks onto a simple, scalable and secure metro infrastructure. The new network, based on Nortel's Optical Metro 5200 DWDM multiservice platform, will enable an efficient and effective information management process to ensure the security of Taiwan Post's valuable information assets.
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