Primary School Teacher is Connecticut’s Most Common Job; Secretary Was For Most of Past Three Decades

What was the most common occupation in Connecticut in 2014?  Primary School Teacher. That’s according to data analyzed by National Public Radio, using U.S. Census data.  NPR checked the most common occupation in each of the 50 states, every two years from 1978 and 2014.

One of the key findings?  Farmers have virtually dropped off the map.  In only two states – North Dakota and South Dakota – were “farm managers” the leading occupation in 2014.  That compares with 8 states in 1978.

Primary school teachers were the most prevalent job in 2 states – New Hampshire and Alaska – in 1996. In addition to Connecticut, the other states in which Primary School Teacher was the leading job in 2014 were Alaska, Florida, Massachusetts, Rhode Island and West Virginia.

In 2014, the most common job in 4 states was “computer software developers” – Colorado, Utah , Virginia and Washington State.  The leading occupation in Washington, D.C.? Lawyers.

NPR points out that “through much of the '80s, as the U.S. economy shifted away from factories that make goods and toward offices that provide services, secretary became the most common job in more and more states. But a second shift — the rise of the personal computer — reversed this trend, as machines did more and more secretarial work.”

Connecticut’s most common occupation through the years:

  • Secretary             1978, 1982-1994, 2004, 2008, 2010job application form
  • Foreman              1980
  • Bookkeepers     1998
  • Truck drivers      1996, 2000
  • Nursing Aide      2002
  • School Teacher 2006
  • Primary School Teacher 2012, 2014

The NPR report points out that “driving a truck has been immune to two of the biggest trends affecting U.S. jobs: globalization and automation.”  The prominence of truck drivers is partly due to the way the government categorizes jobs, the report points out. It lumps together all truck drivers and delivery people, creating a very large category.

Other jobs are split more finely; for example, primary school teachers and secondary school teachers are in separate categories, as evidenced by Connecticut’s most common jobs – school teachers in 2006, primary school teachers in 2012 and 2014.common job map

Three CT Metro Regions Reach Top 50 in USA for Well-Being of Residents

The well-being of residents in three of Connecticut’s metropolitan areas are among the nation’s top 50, ranking at #36, #37 and #48 in a national survey of community well-being that evaluated the top 100 metro regions in the country. The 2014 Community Well-Being Rankings are the latest annual surveys by the polling company Gallup and the consulting firm Healthways. Reaching the top 50 from Connecticut were the Bridgeport-Stamford-Norwalk region (#36), West Hartford-Hartford-East Hartford (#37), and New Haven-Milford (#48), based on U.S. Census tract data. wbi_logo

The Gallup-Healthways Well-Being Index, surveyed residents to get a sense of their social, physical and financial health, as well as their sense of purpose and connections to their community -- all factors that contribute greatly to worker productivity, societal health costs and the economic competitiveness of a place, according to the polling firms as reported by Governing Magazine.

The 2014 rankings are based on 55-question surveys of about 176,000 people across all 50 states. The score for each community included metrics affecting overall well-being and five elements of well-being:

  • Purpose: liking what you do each day and being motivated to achieve your goals
  • Social: having supportive relationships and love in your life
  • Financial: managing your economic life to reduce stress and increase security
  • Community: liking where you live, feeling safe and having pride in your community
  • Physical: having good health and enough energy to get things done daily

mapThe Bridgeport-Stamford-Norwalk region ranked #5 in physical health, #43 in financial health, #58 in community ties, #63 in sense of purpose and #88 in social health.

The Hartford - West Hartford – East Hartford region ranked #18 in financial health, #20 in physical health, #30 in social health, #61 in sense of purpose and #62 in community ties.

The New Haven-Milford region ranked #6 in physical health, #47 in sense of purpose, #48 in social ties, #50 in financial ties, and #91 in community ties.

The South, Southwest and West Coast dominated the top 30, with Boston the only Northeast city, reaching that high.  California, North Carolina, Texas all have two communities in the top 10.report cover

Leading the list was Florida’s North Port-Sarasota-Bradenton area, which performed especially well in financial and physical health. Honolulu, Raleigh, California’s Oxnard-Thousand Oaks-Ventura area and El Paso, Texas, rounded out the top five.

El Paso was the only community to take the top ranking in two categories: sense of purpose and physical health.  That was also the only category to see a Connecticut metropolitan area reach the top 10. Elsewhere in New England, Providence-Warwick ranked #70.

The survey found that residents of high well-being communities exercise more frequently -- an important aspect of physical well-being -- but they are also more likely to report that someone close to them encourages them to be healthy, a critical component of social well-being. They are much less likely to be obese, they have fewer significant chronic health conditions, and they feel safe where they live. Those who feel safe where they live are, in turn, more likely to have access to a safe place to exercise and access to fresh produce, which are important community characteristics that are linked to lower levels of obesity.

Each community, defined as a metropolitan statistical area under the U.S. Census Bureau, received a rank in each category according to the strength of the responses from their residents and an overall rank as well.

Residents of the top well-being locations in the U.S. are “more likely to be thriving across each of the five critical elements of well-being, thus capitalizing on the synergistic benefits of each element acting in concert with one another,” the survey analysis indicated. “This may reflect what is perhaps the most important factor separating the nation's high well-being communities from those with lower well-being: a holistic view of well-being.”

Suicides in Connecticut, Nationally Increase in Recent Years, Extending Trend

The number of Americans who die by suicide has climbed to more than 40,000 deaths annually, according to data from the Centers for Disease Control and Prevention.  Between 2007 and 2012, total annual suicide deaths increased in all but two states, and twenty states recorded increases of more than 20 percent – including Connecticut, where the suicide rate increased 36 percent in the five-year period. suicide CTConnecticut had 368 suicides in 2012, compared with 271 in 2007, which was the lowest number in the state since 2002.  Suicide is the 10th leading cause of death in the United States, according to the CDC.  The data, through 2012, indicated that the rate of suicides in Connecticut ranked the state 44th in the nation, according to the National Center for Health Statistic as published in Governing Magazine.

In Connecticut, the age-adjusted rate of 9.9 per 100,000 population is below the national rate of 12.5, and well below states including Utah (21.0), New Mexico (21.3) and Montana (22.6).  New York (8.3) and New Jersey (7.4) had the lowest suicide rates among their population.  The number of suicides has increased in New York and decreased in New Jersey in recent years.

Nationwide, the number of suicides has been steadily increasing each year for more than a decade.  In 2012 there were 40,600 deaths by suicide reported, compared with 34,598 in 2007, an increase of 17 percent, and 29,350 in 2000.

Research hasn’t linked a single prevailing factor to steadily rising rates, according to published reports. But some of the more commonly cited culprits, according to Governing magazine, are the downturn in the economy, prescription drug abuse and returning veterans suffering from post-traumatic stress disorder.  About half of suicides nationally are committed with firearms, according to CDC data.

Suicide increases are especially apparent in what some have described as the Suicide Belt, a region stretching from Idaho down to Arizona and New Mexico where self-inflicted deaths are more prevalent, according to Governing. Some site the relative lack of access to mental health care as a possible contributing factor.USA suicide

From the 2012 CDC data, men were about four times more likely than women to take their own lives. Women, however, are about three times more likely than men to attempt suicide. From 1986 to 2000, suicide rates in the U.S. dropped from 12.5 to 10.4 suicide deaths per 100,000 people in the population. Over the next decade, however, the rate generally increased, and was at 12.5 percent by 2012.

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As Income Inequality Grows Nationwide, CT's Top 1% Earn More Than in Any State

Connecticut's top 1 percent earned an average of $2.7 million, compared to an average of $52,000 for the rest of the taxpayers -- a ratio of about 51 to 1, according to a report from the Economic Analysis and Research Network (EARN). The data indicate that the top 1 percent of taxpayers in Connecticut earn more than $677,608 — the highest 1-percent income threshold in the nation, according to the report issued earlier this year, based on 2012 data.  In addition, Connecticut has the largest income gap between the top 1 percent of taxpayers and the bottom 99 percent, according to a recent study, and a AP-GfK poll found that 68 percent of Americans believe that wealthy households pay too little in federal taxes. It is little wonder that some describe the nation – as well as Connecticut – as separate and disparate lands.  Income inequality drives the conversation.

CT statThe top 1 percent in Connecticut saw incomes grow by 35 percent between 2009 and 2012, while the bottom 99 percent of Connecticut taxpayers saw average real income growth decline by 5.4 percent during the same period, according to the report. In fact, the states in which all income growth between 2009 and 2012 accrued to the top 1 percent include not only Connecticut, but Delaware, Florida, Missouri, South Carolina, North Carolina, Washington, Louisiana, California, Virginia, Pennsylvania, Idaho, Massachusetts, Colorado, New York, Rhode Island, and Nevada.pulldata

A recent article in the Boston Globe, Divided Nation, included the following:

  • The nation’s 100 richest families have as much wealth as the 80 million families who make up the bottom 50 percent in wealth, according to the University of California, Berkeley.
  • By the late 1970’s the wealth gap in America had substantially closed over the previous five decades, with the top .01 percent of Americans holding 7 percent of the nation’s wealth. The trend then reversed. By 2012, the top 0.1 percent controlled 22 percent of the nation’s wealth.  Projections are the percentage will reach 25 percent by next year.
  • An estimated 7 million families have lost their homes to foreclosure since 2007, according to Moody’s Analytics. And 6.5 million families still hold mortgages larger than the value of their home.pay chart

A study conducted at Harvard Business School last fall found that Americans believe CEOs make roughly 30 times what the average worker makes in the U.S., when in actuality they are making more than 350 times the average worker.  A previous analysis estimated that it takes the typical worker at both McDonald's and Starbucks more than six months to earn what each company's CEO makes in a single hour.

The average Fortune 500 CEO in the United States makes more than $12 million per year, which is nearly five million dollars more than the amount for top CEOs in Switzerland, where the second highest paid CEOs live, more than twice that for those in Germany, where the third highest paid CEOs live, and more than twenty one times that for those in Poland, the Harvard report indicated.

EARN reportThe wealth disparity is also on full display in politics, the Globe points out, noting that 100 super-wealth Americans accounted for 41 percent of contributions in 2012 to so-called Super Political Action Committees (PACs).

Widely reported estimates suggest that compensation of CEOs was about 20 times as much as the typical worker in the 1950s, rising to 42-to-1 in 1980 and 120-to-1 in 2000. In 2013, the ratio stood at 204-to-1 for the S&P 500, with the average of the top 100 companies at nearly 500-to-1, according to a 2013 Bloomberg Businessweek report cited a study by researchers at Rice University and the University of Houston last month, which found that for the vast majority of United States commercial banks, the ratio of CEO-to-employee pay was lower than at the top echelons of the S&P 500.

The EARN report concludes by starkly pointing out that “Policy choices and cultural forces have combined to put downward pressure on the wages and incomes of most Americans even as their productivity has risen. CEOs and financial-sector executives at the commanding heights of the private economy have raked in a rising share of the nation’s expanding economic pie, setting new norms for top incomes often emulated today by college presidents (as well as college football and basketball coaches), surgeons, lawyers, entertainers, and professional athletes.”

56 Women of Innovation Recognized; Girls Encouraged to Enter STEM Fields in CT

Fifty-six women, from across Connecticut, were honored for their innovation and leadership during the eleventh annual Women of Innovation awards gala, held this week. This awards program recognized women innovators, role models and leaders in the fields of science, technology, engineering, and math as well as outstanding women at the high school and collegiate level. “The Council is honored to recognize Connecticut’s most extraordinary and talented women representing a cross section of the state’s most important technology companies and educational institutions.” said Bruce Carlson, President and CEO of the Connecticut Technology Council.

Of the 56 women honored, 10 wewomen-of-innovationre recognized as category winners; there are two winners in both the Research and Collegian categories: Academic Innovation and Leadership: Medria Blue-Ellis, Principal, Engineering & Science University Magnet School; Collegian Innovation and Leadership (two winners): Sapna Gupta, Ph.D. Student, University of Connecticut, Monika Weber, Ph.D. Student, Yale University; Community Innovation and Leadership: Keshia Ashe, Co-Founder & CEO, ManyMentors; Entrepreneurial Innovation and Leadership: Christina Lampe-Onnerud, Founder & CEO, CLOTEAM LLC; Large Business Innovation & Leadership: Yu-Hui Rogers, Site Director, The Jackson Laboratory for Genomic Medicine; Research Innovation and Leadership (2 winners): Serap Aksoy, Professor, Yale School of Public Health, Radenka Maric, Connecticut Clean Energy Professor in Sustainable Energy, University of Connecticut; Small Business Innovation and Leadership: Lisa Braden-Harder, CEO, Appen; and Youth Innovation and Leadership: Anubhuti Mathur, High School Student, Glastonbury High SchCT-ORGool.

Presenting sponsors of this year’s event, held at the AquaTurf in Plainville, were Boehringer Ingelheim USA Corporation, Covidien, Day Pitney LLP, and United Technologies Corporation.

Efforts to interest girls in the STEM fields are underway elsewhere in Connecticut as well.  UIL Holdings Corporation is among the organizations encouraging girls to pursue careers in science, technology, engineering and math (STEM) by supporting three Generating Girls Opportunities (G2O) Expos.

ggoThese expos offer girls exposure to STEM fields, as well as the opportunity to participate in hands-on experiments.  The next G2O Girls & STEM Expo to be held April 10 at Central Connecticut State University.  It is a half-day interactive event for 9th and 10th grade girls introducing participants to all the possibilities of STEM (Science, Technology, Engineering & Math) through workshops and activities led by college professors and STEM professionals.

Activities are designed to inspire girls to question, create, design, test, explore, and more!  They learn about possible STEM careers and talk to colleges and employers to help them plan for the future. The expos, organized by the Connecticut Women’s Education and Legal Fund (CWEALF), are designed to engage the students and teachers in expanding educational opportunities in STEM programs and careers.

A study commissioned by the Girl Scout Research Institute found that girls are interested in STEM fields and aspire to STEM careers, but need more exposure and adult support to carry this interest into the future.  Additional expos will be held in West Hartford at the University of Saint Joseph on May 4 and at Mitchell College in New London on June 5.

The Connecticut Technology Council (www.ct.org), which organizes the annual Women of Innovation, is Connecticut’s industry association for the technology sector. CTC’s mission is to connect people, ideas and opportunities to the global technology and innovation community.

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winners2015 Women of Innovation

Medria Blue-Ellis is the principal of ESUMS, a Magnet School of Excellence and CT School of Distinction. Her Curriculum expertise, creative thinking, and persistence are shared with the female STEM teachers she mentors. Her encouragement of female students to excel in STEM manifests in accomplishments such as the 2014 Verizon App Challenge State Finalist. Medria was one of 100 school leaders, educational advocates, and researches convened at the Jack Kent Cooke Foundation “Closing the Excellence Gap” conference.

Sapna Gupta is a graduate research assistant at the Center for Clean Energy Engineering and a Ph.D. candidate in materials science and engineering at UCONN. Sapna’s academic achievements, innovative research and creativity are evident in the many fellowships, distinctions, and awards she has received, including her honorable mention for the 2014 Baker Student Researcher award. She is founder and president of UCONN Keramos, and delegate of the ACerS PCSA

Monika Weber is a Ph.D. candidate in electrical engineering at Yale University and the co-inventor of Fluid-Screen, a small device that detects bacteria in 30 minutes. She has won the Grand Prize in the NASA “Create the Future” Design Contest 2011” and the Gold Prize in MassChallenge and received over $200,000 in technology and entrepreneurial awards. Monika combines leadership skills with strong technical expertise, creativity and business acumen.

Keshia Ashe is a Ph.D. candidate in chemical engineering at UCONN and co-founder and CEO of ManyMentors. ManyMentors is a STEM online and in-person mentoring nonprofit organization that connects university mentors with middle and high school students interested in STEM degrees and careers. She is a mentor, role model, TEDx speaker, and an unwavering advocate for STEM education in Connecticut.

Christina Lampe-Onnerud is known for her innovative work developing high-performance, low-cost, safe, environmentally-friendly batteries for portable electronics, electric vehicles and energy storage. She is founder of Boston-Power (IPO in 2016) and CLOTEAM, as well as holder of 80+ patents and author of numerous scientific articles. She was recognized as a Technology Pioneer by the World Economic Forum where she serves as an advisor on global innovation and renewable transport.

Yu-Hui Rogers is leading the JAX-GM Administration and Operation Team in establishing its new research institute in Connecticut. She was the vice president of Core Technology Development at the J. Craig Venter Institute where she was responsible for technology development and a large-scale genomic operation. She was instrumental in the development and implementation of a high-throughput sequencing pipeline that enabled the completion of the first human genome sequence at Celera Genomics.

Serap Aksoy is a professor at the Yale School of Public Health where she works on insects that transmit disease-causing microbes to animals and plants. She lectures internationally, maintains ongoing collaborative research programs, and has made landmark contributions to the functional and evolutionary aspects of insect-microbe interactions. Through her discoveries, she developed innovative methods that use beneficial bacteria to render insects inhospitable for disease-causing pathogens, thereby reducing their disease transmission potential.

Radenka Maric joined UCONN in 2010, where she focuses on developing new materials and novel structures for energy storage and conversion, structural ceramics and hydrogen production and separation. Previously, she was group leader and program manager at the National Research Council of Canada’s Institute for Fuel Cell Innovation, program manager at nGimat and senior scientist/team ILeader at the Japan Fine Ceramics Center in Japan. Radenka has published over 150 scientific papers.

Lisa Braden-Harder started her career in IBM’s research division, moving on to found the Butler Hill Group in 1993. There, she leveraged her background in linguistic products ranging from grammar checkers to search engines. In 2011, the company merged with Appen, an Australian company also engaged in taking devices to global markets. In 2013, she became CEO of the combined entity and in January 2015, led the company through an IPO on the Australian stock exchange.

Anabhuti Mathur conducts research at the UCONN Health Center and was a 2014 summer student fellow at The Jackson Laboratory. She was an Intel ISEF finalist, American Chemical Society award winner, National JSHS State Representative, Chemistry Olympiad Semifinalist, and the Anna Harrison award winner for top female scorer. Anubhuti captains Glastonbury’s Debate and Science Bowl teams, is president of the Medical Leaders Club, and runs a charitable multicultural dance organization.

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Tough New Anti-Smoking Ads to Air in Connecticut, Nationwide

The Centers for Disease Control and Prevention is launching its 2015 “Tips From Former Smokers” campaign with a series of powerful new ads featuring former smokers who suffer from smoking-related illnesses, including vision loss and colorectal cancer. Ads also highlight the benefits of quitting for smokers’ loved ones, and the importance of quitting cigarettes completely, not just cutting down. Cigarette smoking kills more than 480,000 Americans each year and remains the leading cause of preventable death and disease in the United States. For every American who dies from a smoking-related disease, about 30 more suffer at least one serious illness from smoking.

Beginning March 30, the ads will run for 20 weeks on television, radio, billboards, online, and in theaters, magazines, and newspapers. Connecticut is included in the national ad buy, which includes cable TV, magazine, and digital media, according to CDC officials. smoking3

Data from the Centers for Disease Control and Prevention indicate that in 2013, 15.5 percent of Connecticut adults were smokers.  This was lower than the national average of 18.1 percent, and lower than the other New England states, which ranged from 16.2 percent (New Hampshire) to 20.2 percent (Maine).

CDC’s successful Tips national tobacco education campaign has helped prompt millions of smokers to try to quit since it began in 2012, officials said. It has also proven to be a “best buy” in public health by costing just $393 to save a year of life.

“These former smokers are helping save tens of thousands of lives by sharing their powerful stories of how smoking has affected them,” said CDC Director Tom Frieden, M.D., M.P.H.  “These new real-life ads will help smokers quit, adding years to their lives and life to their years.”

In 2014, Tips ads had an immediate and strong impact. When the ads were on the air, about 80 percent more people called the national quitline, CDC officials noted, for free help. Since 2012, Tips ads have generated more than 500,000 additional calls to the toll-free quitline number, 1-800-QUIT-NOW.CDC

Nationally, about 3 in 4 adult e-cigarette users also smoke cigarettes. If you only cut down the number of cigarettes you smoke by adding another tobacco product, like e-cigarettes, you still face serious health risks, according to CDC offcials. Smokers must quit smoking completely to fully protect their health -- even a few cigarettes a day are dangerous, they emphasize.

The agency website, www.cdc.gov/tips, includes personal stories from the campaign.  The website also includes detailed assistance developed by the National Cancer Institute to support smokers trying to quit.

Besides the human cost, smoking takes a devastating toll on the nation’s economy, CDC officials point out. Those costs exceed $300 billion a year—nearly $170 billion in direct medical care for adults and more than $156 billion in lost productivity.

The Tips campaign serves as an important counter to the more than $8.3 billion spent annually by the tobacco industry to make cigarettes more attractive and more affordable, particularly to young people, officials said.

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Connecticut Ranks #39 Among States for Retirement; Lowest In New England

Connecticut, ranking 39th overall and lowest among the six New England states, came away with a mixed bag of results on a list of the “Best and Worst Places to Retire,” compiled by the financial data website bankrate.com and published this week. The good news:  Connecticut ranked #6 in crime rate, the state’s highest ranking among the six categories included in the survey, and just outside the top ten at #12 for health care quality.  Undeterred by the challenging February weather this year, Connecticut ranked #14 for weather among the nation’s 50 states.  Not so good – Connecticut ranked near the bottom, at #48, in cost of living, and at the middle-of-the-pack, at #24, for community well-being.

The survey of around 1,000 adults in the U.S. questioned what Americans' priorities are when it comes to retirement. Nearly a quarter of those surveyed said being close to family was the deciding factor. But when it came to climate, while around a quarter prefer being close to a beach, nearly 40 percent of people want access to the great outdoors, rivers and mountains, according to published reports highlighting the survey results.retrirement

The top 10 states were Wyoming, Colorado, Utah, Idaho, Virginia, Iowa, Montana, South Dakota, Arizona and Nebraska.  The highest ranked New England states were Maine at #12, Vermont at #15 and New Hampshire at #16.  Massachusetts came in at #18 on the list, and Rhode Island was just ahead of Connecticut at #38.

By category, Minnesota topped the list in health care quality, Hawaii was #1 in community well-being, New Mexico was #1 in weather, and Mississippi (which ranked #36 overall) had the lowest cost of living.   Vermont had the lowest crime rate and Wyoming the lowest tax rate.

Bankrate provided the following breakdown of the origin of the data used in compiling the rankings:  The cost-of-living data was provided by the Council for Community and Economic Research, a Virginia-based group that tracks retail prices in more than 300 communities around the country. Crime statistics include property and violent crimes reported by police departments to the FBI.senior man

Health care quality scores come from the Agency for Healthcare Research and Quality, a federal office that measures each state's performance on about 160 different health-related issues. The National Oceanic and Atmospheric Administration provided weather data, including readings on temperature, humidity and sunshine. The "well-being" scores for seniors were from Healthways, a research group that works with the Gallup polling service to survey the public about their happiness and general satisfaction with their surroundings.

There are worse places than Connecticut to retire, according to the survey.  Among them:  Oklahoma, Oregon, Missouri, Kentucky, Louisiana, West Virginia, Alaska, and Arkansas, as well as New York and New Jersey.  Hawaii also ranked in the bottom 10, largely due to its highest-in-the-nation cost of living.

As Competency-Based Education Gains Interest, Charter Oak State College Among Leaders

“Competency-based education has the potential to streamline the path to a college degree for a significant number of students, both working adults who can apply their skills and experiences to earn credit for what they already know and other students who prefer self-paced learning over the traditional time-based model of earning credits.” That is the conclusion of a new report analyzing the current status – and future potential – of competency-based education (CBE) in the United States, researched by the American Enterprise Institute’s Center on Higher Education Reform.

The study, “The Landscape of Competency-Based Education,” found that there are currently 34 colleges nationwide that have CBE programs, with at least 18 more colleges working on developing programs.  One of those 34 colleges is Connecticut’s Charter Oak State College, the state’s on-line degree-granting institution.  It is the only Connecticut college highlighted in the report. online-degree

For Charter Oak, the approach is wholly consistent with its mission, not a new concept, and growing in interest and popularity among potential students.

The report indicates that a growing number of colleges and universities are offering, or soon will offer, college credits in exchange for direct demonstrations of learning, NPR recently reported. “That's a big shift from credit hours — the currency of higher education for more than a century — which require students to spend an allotted amount of time with instructors.  A ‘competency’ might be a score on a standardized exam or a portfolio of work. The major argument in favor of competency-based programs is that they will offer nontraditional students a more direct, more affordable path to a degree,” the NPR story indicated.

Charter Oak State College has been very involved in the competency based education national movement for some time. The institution’s President and Provost are part of the steering committee of C-BEN, the Competency Based Education Network which is comprised of colleges who are interested in “pushing the traditional college delivery envelope.”  The initiative is funded by the Lumina Foundation, one of the nation’s most respected education foundations.CBE report

Charter Oak State College President Ed Klonoski participated in a panel of leading higher education innovators in Washington, D.C. to discuss new and emerging models of academic learning and assessment. The panel was moderated by Jamie Merisotis, Lumina Foundation President & CEO (and a Connecticut native), and took place in The Dirksen Senate Office Building nearly two years ago.

Klonoski pointed out that "at Charter Oak we have been offering competency based approaches to higher education since our founding in 1973,” adding that “these approaches are now being highlighted as ways to lower the cost of higher education and accelerate degree attainment."

Panelists addressed the growing importance of identifying and assessing learning outcomes and their impact on shortening the time toward degree completion, and shared insights about innovative and effective models in linking learning and degree attainment.

Also in 2014, the federal Department of Education sought proposals from institutions seeking status as experimental sites focused on competency-based education. Charter Oak submitted an individual college response and a joint response with C-BEN members.  By late last month, the federal agency designated Charter Oak as one of 11 CBEN institutions to participate.

cosc_color 2007-2008Charter Oak’s proposal would create an Experimental Site in financial aid that would offer aid to students for prior learning (established via portfolios and tests), with the aim of making a college degree more affordable and accessible.

The American Enterprise Institute report calls for more data to be gathered in rigorously examining the range of CBE programs being offered and developed, to better identify strengths and weaknesses of the various types of programs, and the students who would benefit most from particular programs.  The report was researched by Robert Kelchen, assistant professor of higher education at Seton Hall University, who noted of the evolving field, “there is still no consensus definition of CBE, even among the institutions that provide it.”  Programs fall into two main areas, according to the report:

  • Well-established prior learning assessments (PLA), which grant credits for content that a student has previously mastered; and
  • Newer competency-based coursework, where students progress toward a degree as they demonstrate mastery of new academic content.

The American Institute plans additional reports on additional aspects of CBE, as the field continues to “catch the attention of federal and state policymakers, foundations, and colleges.”

Women at Disadvantage in Seeking IPO Investments, Research Study Finds

A new study by academic researchers into decisions regarding the financing of Initial Public Offerings (IPO) of fledgling businesses has found "one significant and persistent effect on investor perceptions that did influence those evaluations—the gender of the CEO.” Even though women-owned firms represent almost half of U.S. new businesses, female founders and CEOs of start-ups fared poorly in an IPO simulation involving MBA students, the researchers found – a result of interest to Connecticut’s business start-up, venture capital, and entrepreneurial communities, at a minimum.IPO

The study found that the amount of money that participants recommended for investment in a fictionalized initial public offering for a cosmetic-surgery company was almost 4 times higher if the CEO was identified as male.  In fact, the anticipated share price of IPOs led by male CEOs was approximately 11 percent higher than those of female-led IPOs, suggesting that bias explains why successful female-led IPOs are an "extremely rare phenomenon," the researchers point out.

The paper,recently  published and now available through the Social Science Research Network, was conducted by Lyda S. Bigelow, Leif Lundmark and Robert Wuebker of the University of Utah and Judi McLean Parks of Washington University in St. Louis.McLean Parks, JudiLyda Bigelow

Skirting the Issues: Experimental Evidence of Gender Bias in IPO Prospectus Evaluations,” stresses that “given the impact of entrepreneurial activity around the world, the question of how entrepreneurs finance their ventures is a crucial question, as adequate capitalization for a new venture can make the difference between firm survival and failure. Whether a spin-off or start-up, firms that seek to grow beyond initial size at founding rely on the decisions of potential investors for the necessary financial resources.”

Given that women executives are present in the top management teams of IPO firms in increasing numbers, the lack of female-led IPO firms is a “curious fact, especially since women-owned private businesses represent almost half of the new businesses formed in the United States, with patterns of founding similar to male-owned businesses.”

In the study, using a sample of MBA students the researchers constructed a simulated initial public offering (IPO) manipulating the gender demographics of the top management team. Their results suggested that female CEOs “may be disproportionately disadvantaged in their ability to attract growth capital when all other factors are controlled.”

Despite identical personal qualifications and firm financials in the scenario, the study results indicated that:

  • firms led by females were seen as having a poorer strategic position than those led by males,
  • female Founder/CEOs were perceived as less capable than their male counterparts, and
  • IPOs led by female Founder/CEOs were considered less attractive investments.

“The disparity is significant, as is its potential economic and social impact,” the researchers state. “If companies led by females are disadvantaged in their ability to raise cash through the stock market, it can impact the viability and financial health of their companies, their ability to expand and compete in an increasingly global and competitive environment, and if they are unable to remain viable, their employees’ livelihoods.”

The 43-page research report also suggests that gender bias may extend beyond IPO’s to other disciplines within the financial world, and urge additional study.

Future research, they suggest, “could explore whether or not these findings extend to financial professionals such as bank loan officers or venture capital investors, and could investigate the role that prior experience plays in that process. This is an important question, as financial professionals, making investment decisions for individuals and institutions, control enormous amounts of money (for example, the combined assets of the nation’s mutual funds exceed $7.4 trillion, retirement funds exceed $2.7 trillion, closed end funds exceed $20 billion and exchange traded funds weigh in at $174 billion,” the research team pointed out.

Photos:  Judi Parks (left), Lyda Bigelow