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Formed in 2007, SSPEED is a multi-institutional collaboration that aims to address deficiencies in storm prediction, disaster planning and evacuations for communities stretching from New Orleans to Brownsville, Texas.“There’s no question that Houston dodged a bullet with Ike,” said Rice’s Jim Blackburn, professor in the practice of environmental law and co-principal investigator on the grant with Bedient. “It opened a lot of eyes to the vulnerabilities we face from a big storm. The reality is that we have developed this entire region without regard to the risks of a big hurricane.”SSPEED’s partner institutions include the University of Houston (UH), the University of Texas at Austin, Texas A&M University, Texas Southern University, Texas A&M University at Galveston, the University of Texas at Brownsville, Louisiana State University, the Environmental Defense Fund and the Houston-Galveston Area Council, southeast Texas’ largest council of local governments.The Houston Endowment grant will allow SSPEED to compile all the lessons learned from Ike and make recommendations about what lawmakers, emergency managers, industry officials and homeowners should do to prepare for future storms. Dozens of SSPEED experts will be pulled into the project, which will examine: ShareCONTACT: Jade BoydPHONE: 713-348-6778E-MAIL: [email protected] Center wins $1.25M for Ike studyHouston Endowment will fund study to prepare for next big stormWith an estimated price tag around $30 billion, Hurricane Ike ranks as the third-costliest hurricane in U.S. history. Yet Ike delivered only a glancing blow to Houston, and it was just a Category 2 hurricane when it made landfall.For researchers at the Rice-based center for Severe Storm Prediction, Education and Evacuation from Disasters (SSPEED), the big question is, What would have happened had Ike not weakened and turned its full fury toward Bolivar Peninsula at the last minute?“If you project the devastation at Bolivar taking place around NASA and the Clear Lake area instead, you can very quickly imagine a storm that’s more costly and deadly than even Katrina,” said SSPEED Director Phil Bedient, Rice’s Herman Brown Professor of Engineering.Now, thanks to a new $1.25 million two-year grant from Houston Endowment, SSPEED experts can put real numbers to the damage estimates of a direct strike on Houston by a powerful hurricane. “With hurricane season here, we can all appreciate the practical applications likely to be gained from the research that Houston Endowment has so generously funded,” Rice President David Leebron said. “Ike may have been a once-in-a-quarter-century event, but the entire region will benefit if we better understand and plan for these storms. There are dollars and, more important, lives to be saved by improving our ability to make effective responses to these massive hurricanes.” FacebookTwitterPrintEmailAddThis
The DeGroote School of Business at McMaster Unviersity recently hosted Myron Scholes, a McMaster graduate and nobel laureate who has built a career on the unknown.Scholes graduated from the Faculty of Social Sciences in 1962 and earned the Nobel Memorial Prize in Economic Sciences for his work with researcher Robert C. Merton in 1997. Together, Merton and Scholes were recognized for developing a new method for determining the value of derivatives. Currently serving as the Frank E. Buck Professor of Finance, Emeritus, at the Stanford University Graduate School of Business, Scholes returned to his alma mater at the end of October to offer insight to a new generation of business leaders, with his lecture The Evolution of Asset Management: What the Future Holds. This was Scholes’ first time returning to McMaster’s main campus since his 50th class reunion in 2012.Much of Scholes’ work looks into the importance of risk management in enhancing terminal wealth, and how digital transformation will continue to impact asset management over the coming years.“I think there’s a great connection between data and technology,” Scholes said, commenting on his work. “Technology allows one to do things faster and more individualized. It allows one to do things faster and more individualized. It allows people to do things more flexibly, and that’s what business is.”Since his time at McMaster, Scholes has gone on to earn an MBA and Ph.D. from the University of Chicago Booth School of Business. He served as a faculty member at the MIT Sloan School of Management and the University Chicago before taking his current role at Stanford in 1983. RelatedSix Booth School Professors Make Thomson Reuters List of Thought LeadersSix University of Chicago Booth School of Business faculty members were named to Thomson Reuters’ list of most influential thinkers, making Chicago Booth No. 1 in business school thought leaders worldwide. The faculty members named to the list are: Marianne Bertrand, Chris P. Dialynas Distinguished Service Professor of Economics, focuses…October 1, 2014In “Featured Home”Chicago Booth Professor Richard Thaler Takes Home Nobel Prize in EconomicsA professor from the University of Chicago Booth School of Business has won top honors in the field of economics. According to a press release, Richard Thaler was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017. Thaler was honored for investigating the implications of…October 10, 2017In “Featured Home”Two Booth Professors Receive Nobel PrizesProfessor Eugene F. Fama and Professor Lars Peter Hansen of the Booth School of Business were awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2013. Professor Robert J. Shiller, of Yale School of Management, was also awarded a prize. All three professors were granted…December 1, 2013In “Featured Region” regions: Toronto McMaster Nobel Laureate Myron Scholes Shares Insight with Students About the AuthorAlanna ShafferStaff Writer, covering MetroMBA’s news beat for Atlanta, Houston, and Dallas.View more posts by Alanna Shaffer Last Updated Oct 25, 2017 by Alanna ShafferFacebookTwitterLinkedinemail