Commencement Addresses

Dartmouth Nabs Hank the Tank For Commencement 07.

bluto_paulson.jpgThe signs of the approaching summer are everywhere. DealBreaker is hiring summer interns. The recruiting departments at all the Wall Street banks are in a frenzy preparing for their own summer interns. We’re gearing up for our coverage of the follies of those same summer interns. Colleges and business schools are lining up commencement speakers.
The first big entry in this last category is Hank Paulson, who has been grabbed by Dartmouth. Paulson was an English major who graduated from Dartmouth with the class of 1968. Hank will be receiving an honorary degree at the ceremony. The college says it invited Hank because of his financial success and record of public service. We’re sure the fund-raising office had nothing to do with his selection.
Tuck’s ceremony will be graced by the presence of Harold W. “Terry” McGraw III, Chairman, President and CEO of the McGraw-Hill Companies. Do those kids up in Hanover know how to party of what. Terry is an animal, we hear.*
* Yeah. No. Not really. Not at all.
Treasury secretary to be Dartmouth commencement speaker [Boston Globe]

HBS Graduation Report

hbs.jpgBankersBall comes through with a great report on the Harvard Business School graduation.

To all the hard-charging i-bankers out there, Paulson had a particularly relevant message to you: never forget about maintaining a work-life balance. So next time you just got to get out of there at 4:30 to catch the Metro North, you know who to cite.

Ugh. We hate that kind of advice. Really, Hank? You think your associates and vice presidents are going to get away with catching the train out of town at 4:30? Really? You might call that “work-life balance” but there’s also another word investment banks have for that kind of behavior: “fired.”
More pictures from the HBS graduation on this flickr set.

HBS Commencement Highlights

Bill Moyers On The Economics of Bread

We’re not used to turning to Bill Moyers for insight into anything, much less economics. But maybe we’ve been too harsh, turned off by the dopey earnestness and knee-jerk politics of his PBS specials. This piece from his commencement address at Hamilton College is actually very good stuff.

Bread is the great re-enforcer of the reality principle. Bread is life. But if you’re like me you have a thousand and more times repeated the ordinary experience of eating bread without a thought for the process that brings it to your table. The reality is physical: I need this bread to live. But the reality is also social: I need others to provide the bread. I depend for bread on hundreds of people I don’t know and will never meet. If they fail me, I go hungry. If I offer them nothing of value in exchange for their loaf, I betray them. The people who grow the wheat, process and store the grain, and transport it from farm to city; who bake it, package it, and market it–these people and I are bound together in an intricate reciprocal bargain. We exchange value.

Pass the Bread: Text of Bill Moyers’ Address at Hamilton College
[ via blog]