Seize the day and save some money!

I am back, as I promised!

Reading an article in this week’s TIME magazine (09/21/2009, Vol.174, pp81), I realized that there are numerous extravagances due to prodigal administration. Probably it wouldn’t be a problem a few years ago, however nowadays, during recession, it is a necessity to slash budgets! This is what many Universities across the States thought and actually did, saving not hundreds but…thousands of dollars.

For example:
HARVARD UNIVERSITY is saving $900,000 (per year I suppose) by stopping serving weekday hot breakfasts at undergrad dorms

MASSACHUSETTS INSTITUTE OF TECHNOLOGY cut eight varsity sports teams, including the hand-pistol, alpine-skiing and wrestling teams, and saved $485,000

WESTERN WASHINGTON UNIVERSITY saved $485,000 by punting its 100-member football team

DICKINSON COLLEGE is saving $150,000 a year by dumping its free laundry service

UNIVERSITY OF COLORADO Will saves $122,000 by curtailing trash removal and window-washing

CONCORDIA COLLEGE Reduced food waste by 40% (environmental friendly too) when it ditched its cafeteria trays earlier this year

How about Western Kentucky University??? I am really curious to know.

You can find the full article in this week’s TIME issue or at the following link:
http://www.time.com/time/magazine/article/0,9171,1921613,00.html


It also reminded me of an article in the newspaper I read years ago, saying that airline companies saved millions of dollars by removing only one olive from each meal they served! Can you imagine that?

Let’s do the math: for example USAirways flies from JFK, Newark, Washigton DC, Chicago, Miami, Boston and Philadelphia to destinations in Europe (London, Munich, Frankfurt, Paris, Amsterdam, Milan, Athens, and Istanbul). Assuming 30 one-way trips (USAirways might not fly from every US airport to every European airport I mentioned above), the round trips would be 30*2=60. The average number of passengers per plane could be 150 (probably more). What do we have so far? 60*150=9000 passengers daily flying ONLY to Europe!!! And 365*9000=3.3 million per year. How about saving 3.3 million olives every year only from European destinations? Add the trips to and from South America, Asia, Australia and Africa; an enormous amount of money!!!

Seize the day and save some money!
Michael

First post!

Hi everybody!!!

I am Michail Trivizadakis but everybody calls me Michael (you can choose Mihalis - the Greek version). This is my first blog ever! We have met in one of our classes and probably talked with some of you, so let me introduce myself to the rest of the “gang”.

I am a Chemical Engineer with a PhD in Chemical Engineering and specifically in Trickle Bed Reactors (multiphase flows). Before moving to Bowling Green KY I was working as a researcher (post-doctoral fellow at UPenn/CHOP and Drexel) in Philadelphia PA. I am currently a student in the Full Time MBA program at Gordon Ford College of Business and have a full time job (24/7). You can see my “boss” in the picture below!

I would like to help in making a better future for my daughter and all the kids and I really do believe that business should not be “all about money”.

Hopefully, more information and news regarding economics, business and MBA programs will be shared in this blog. I hope you’ll enjoy it. Feel free to post your comments here.

Michael