Michigan Tech College of Business Newsblog

Appleton Senior Awarded Michigan Tech Impact Scholarship

Published March 15, 2021

Scholarships

Michigan Technological University’s College of Business announces Rachel Weyenberg of Appleton, Wisconsin, as the 2021-22 Impact Scholarship recipient.

Weyenberg is the daughter of Amy and Kevin Weyenberg and is a senior at Appleton East High School. She is active as the vice president of competitive excellence in DECA, an association of high school business students who participate in career development, social events, community service activities, and competitions. She credits DECA for helping her discover a passion for business and leading her to Michigan Tech.

photo of Rachel Weyenberg

On campus in Houghton, Weyenberg plans to pursue construction management, become active in Enterprise, and land an internship. Supported by both the College of Business and the Department of Civil and Environmental Engineering, the interdisciplinary construction management major was recently named the best construction management program in the state by Universities.com.

“I fell in love with Michigan Tech and all the unique opportunities offered by the University. What made me decide to attend MTU was how amazing the College of Business is. When I toured campus I met with both Associate Dean Buche and Dean Johnson. They made me feel welcomed and at home. I love the one-on-one attention each student receives and the hands-on approach.” Weyenberg says.

The Impact Scholarship, organized by Admissions, Financial Aid, and the College of Business, is an annual competitive award recognizing Michigan Tech business majors. Held virtually this year, 41 high school senior finalists from seven states were invited to participate in leadership activities via Zoom and received renewable awards ranging from $1,000 to full in-state tuition.

“Evaluators were struck by Rachel’s communication skills including public speaking experience as well as her outgoing and positive approach,” says Shannon Rinkinen, director in the College of Business and chair of the Impact Scholarship committee.

Weyenberg is also active in student council, National Honors Society, link crew, pep club, and varsity soccer. In her free time, she enjoys spending time with family and friends, watching movies, and going on road trips.

“I am extremely grateful for the Impact Scholarship. This opportunity will allow me to further my education without the stress of out-of-state tuition. I know that I was meant to be a Husky.”

Next year’s Michigan Tech Impact Scholarship application will open in summer 2021.

Michigan Tech Husky Investment Tournament Spring 2021—Week Two

Published March 8, 2021

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Competitions

Welcome to week two of the Husky Investment Tournament!

Have you been paying attention to the financial news? This past month has seen a large amount of coverage given to normal everyday people. The stock market has felt the impact of retail traders banding together over social media to increase share prices.

Retail traders are people like you and me that do not hold large amounts of financial resources. In the past, this group was never given a second thought, but when they came together, Wall Street took notice. Gamestop stock saw its price rally from $15 to $350 at the peak. Many hedge funds who sold the stock short lost a significant amount of money.

It got to the point where well-known trading apps such as Robinhood had to restrict the trading of the selected stocks. This led to even more interest in the story, and even more people investing in the selected stocks. Congress recently decided to get involved and it will be interesting to follow along and see how this all plays out.

It is important to note that for all the retail traders that made money, an even larger amount lost money when the stock fell back down to its true fundamental value. Trevor Salata, a current Michigan Tech student, goes over what happened in this week’s video.

Michigan Tech Husky Investment Tournament Spring 2021—Week One

Published March 1, 2021

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Competitions

Michigan Tech’s beautiful campus in Houghton, Michigan, is beautiful in all four seasons—come visit us!

Welcome to week one of the Husky Investment Tournament! Teams from India, Georgia, California, Virginia, Maryland, and Michigan are joining the experience. Ready to get started?

Let’s start by comparing two people and their investing habits, assuming a seven-percent annual return on the stock market:

Beth starts investing at the age of 18 and contributes $2,000 a year until she reaches age 40. Beth’s friend Jo waits to start investing until age 40 and contributes $5,000 each year until reaching age 60.

Who do you think will end up with more money at age 70?

Beth would have contributed $44,000 of her own money and by the time she reached age 70, there would be $531,950.70 sitting in her investment account. On the other hand, her friend Jo would have contributed $100,000 and there would be only $403,221.69 sitting in an investment account.

This example illustrates the power of time and compound interest. If you were to start at age 18 to achieve millionaire status by age 60 you would need to invest $4,335.91 a year. This number equates to $361 a month or roughly $90 a week!

As Albert Einstein once said, “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.”

The College of Business at Michigan Technological University wants you to understand the basics of stock investing now, while you’re young. People naturally avoid things they don’t understand. We want you to understand that investing isn’t as complex as it may appear. In the Husky Investment Tournament, only one team will finish in first place, but all of you can win in the retirement tournament.

This week’s video is from Dean Johnson, dean of the MTU College of Business. He provides an introduction to stocks and investing to help get you started, as well as an explanation of rules and trading restrictions.

Good luck, and have fun!

My Life On Campus During COVID-19

Published January 27, 2021

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Emily Kughn is a second-year student in Michigan Technological University’s College of Business, dual majoring in marketing and management with a concentration in supply chain and operations management. The Horton, Michigan, native is also a member of the American Marketing Association. Below is her piece about what it’s like living and learning on campus during the COVID-19 pandemic.

Walking onto campus to start my first year, I felt a huge mix of emotions: happy to start a new chapter, sad to leave my family and friends back home, anxious about what’s to come, and excited about my new independence. Just like any other first-time college student, I had my guesses about what college might be like, but I really had no idea what to expect. I can assure you the last thing I anticipated was a global pandemic!

Fast forward now into my second year at Michigan Tech—my everyday campus life looks much different than it did last year. Obviously, I wish more than anything that this virus never existed, but I’ve learned to forge a new path and create a new normal.

The sense of community on Michigan Tech’s campus is especially strong this year. We’ve found creative ways to come together and show support for one another. Since we can’t attend sporting events, have large gatherings, or socialize much outside of class, it makes the interaction we do get extra special. My favorite ways to safely socialize now include our outdoor movie nights, bonfires, going on hikes, and Zoom calls with my friends.

In order to thrive in online classes, I find it vital to establish a routine to stay organized. I treat my classes the same way I would if they were all in person. I make sure to mask up and head to the library at least twice a week in order to get a change of scenery while studying. I am also still very much involved in student organizations, which keeps me busy.

In the American Marketing Association, we participated in a virtual marketing competition and the Women’s Rugby Club competed against our conference in a virtual season. My student org involvement has been a major blessing; being able to stay connected with others in new ways while also staying involved in things I enjoy.

The most challenging part of the year so far has been not being able to attend all classes in person, not being able to see all of my friends, trying to meet new people, and constantly dealing with the many unknowns.

Finding opportunities to learn and grow given our current circumstances is important. Living and learning on campus during a pandemic definitely comes with challenges. However, I am thankful to be on the campus I love, still doing the things I enjoy (even if virtual for now).

Houghton Gremlins Win Husky Investment Tournament

Published December 1, 2020

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Competitions

The Husky Investment Tournament hosted this fall by the College of Business (COB) at Michigan Technological University drew more than 130 high school business students from as far away as Maryland and Florida to compete for a cash prize and scholarships toward a Michigan Tech education.

The competition utilized a virtual stock-trading tool and College faculty-led video modules to help high school educators lead engaging conversations and lessons of their own. Teams of three to four students received $1,000,000 in virtual US dollars to build a portfolio. The group with the highest-valued portfolio earned $1,000 in prize money and all students who actively participated were awarded a scholarship to attend Michigan Tech.

“With how high schools have shifted curriculum due to COVID-19, teachers and students alike tell us that the Husky Investment Tournament has been a welcome enhancement to their virtual education,” said Dean Johnson, dean of the Michigan Tech College of Business.

Students from Houghton High School in Houghton, Michigan, came in first place at the conclusion of trading on November 16. Despite the stock market only returning five percent during the competition, the team of Milo Schaefer, Kazimir McCloskey, Matthew Ryynanen, and Trent Bukovich earned a positive 11-percent return. The winners were surprised at the outcome, with one student saying, “Going into it, we never thought we’d have a chance, but we made a few investments that really took off.”

Their teacher, Jennifer Rubin, added, “I love the opportunity that the Husky Investment Tournament provides for my personal finance students. It helps them dive into investing and really see how stocks fluctuate over a period of time—with no consequences.”

Prior to the competition, most students were unfamiliar with stock basics.

The Husky Investment Tournament is embedded in high school economics, business, and personal finance classes. Since its launch in September 2019, 830 students across Michigan, Wisconsin, Minnesota, Maryland, Florida, and Illinois have participated. High school educators or administrators wishing to sign teams up for the spring 2021 competition, which begins March 1, should visit mtu.edu/business-tournament.