By Bellarmine University's Rubel School of Business
5
11 ratings
The podcast currently has 22 episodes available.
Episode 20: In today’s episode, host Jim Ray is joined by Dr. Frank Raymond (Professor of Economics) and Mr. Carl Hafele (Investment Manager and Professor) to discuss the current state of the US economy. Both guest have joined the podcast to discuss similar topics in Episode 3 and Episode 16. It’s always a lively conversation.
Thank you for listening to this episode of the Bellarmine on Business podcast. Please remember to SUBSCRIBE to our podcast, so you don’t miss an upcoming episode.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Thank you for listening to this episode of the Bellarmine on Business podcast. Please remember to SUBSCRIBE to our podcast, so you don’t miss an upcoming episode.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Thank you for listening to this episode of the Bellarmine on Business podcast. Please remember to SUBSCRIBE to our podcast, so you don’t miss an upcoming episode.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Today’s we’re focusing our discussion around disregarded entities (“flow entities”), such as LLCs, LLCs filing as S-corporations, Partnerships, etc.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 16: In today’s episode, host Jim Ray interviews Dr. Frank Raymond (Professor of Economics) and Mr. Carl Hafele (Investment Manager and MBA Professor). In this extended episode, we’re going to discuss the economy as we begin 2022. We’ll touch on inflation, supply chain issues, the worker shortage, energy’s impact on the economy, politics and war and capital gains and more.
Both Frank and Carl joined me for Episode 3 in 2020. We discussed the impact of the pandemic on the US economy and various economic policies. Now that we’re heading into 2022, inflation is a significant, new concern.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 15: In today’s episode, host Jim Ray interviews Dr. OJ Oleka, Chair of the Executive Board of our Rubel School of Business. He’s also the President of the Association of Independent Kentucky Colleges and Universities. They discuss is important topics for the Rubel School of Business.
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 14: In today’s episode, host Jim Ray interviews Jorge Pazmiño, Director of Graduate and Executive Education Programs for the Rubel School of Business. In Episode 1 of our podcast, we introduced Dr. Natasha Munshi and discussed her vision for several initiatives involving executive education. Jorge has the responsibility for the development and implementation of some of those initiatives.
Jorge moved from Quito, Ecuador, as a bi-lingual international student to study business. He enlisted in the US Army. After a deployment in Iraq, he completed his undergraduate degree. He used the GI Bill to pursue and earn his MBA and a Master’s in information technology.
Jorge then joined the financial services industry, but still had an interest in education and its impact on people’s lives. This inspired him to pursue his interest in a Doctoral degree in education leadership at Bellarmine University. He is currently working toward the completion of this degree, while working at Rubel.
Scholarships
Recruiting for the Spring MBA and Executive MBA (EMBA) programs at Bellarmine is currently underway. Rubel offers an early application scholarship for those who apply by November 5th, 2021. The scholarship is $1,000 for EMBA program and $500 for the MBA program.
Jim and Jorge spend time discussing some of the advantages of the EMBA program. Jim is a 2008 alumnus. The contact with the professors, the rigor of the classes, the networking opportunities and other aspects of the Bellarmine culture result in a very challenging, but rewarding experience.
Meet the Dean – November 2, 2021 (Virtual)
This is an opportunity for interested individuals to interact with Dr. Natasha Munshi and others, in a virtual setting. For more information, please email: [email protected].
Dean’s Executive Speaker Series with Bill Samuels Jr. (Virtual)
This is another virtual opportunity presented by the Rubel School of Business. It takes place November 3rd from 5:30EST-6:30EST. Bill Samuels Jr. is the Chairman Emeritus of the Maker’s Mark Distillery and Trustee Emeritus at Bellarmine University. Click Here to Register.
Rubel School of Business Initiatives
MBAs are found throughout various industries and roles. Rubel has an initiative to create additional awareness of the MBAs programs through an on-campus partnership with the Office of Identity and Inclusion. As a student of color and those with other backgrounds may not be as familiar with the benefits of earning a Bellarmine MBA or EMBA. This initiative is there to help create awareness and access.
Partnership with Military and Veteran’s Affairs
Having served in the US Army, this Rubel initiative takes on a special focus for Jorge. The military offers service members some terrific educational benefits. Rubel is partnering with the educational center at Ft. Knox and various National Guard units and reserves. The Bellarmine Office of Military & Veteran Services provides a terrific connection point for members all military branches who may be interested in pursuing the various opportunities at Bellarmine and the Rubel School of Business.
International Collaborations with other Business Schools
As an international student, Jorge has a unique understanding of the opportunity for an international student to study in the US. Rubel is developing an initiative to interact with students in various countries and to potentially have them come to Bellarmine to pursue an MBA. It’s about engagement. Jorge is going to conduct a virtual workshop with a group of finance students at Universidad San Francisco de Quito (Ecuador).
Executive Education Program Development
In Episode 12, we discussed an innovative partnership between the Rubel School of Business and Kroger. Rubel has an ongoing focus on developing more of these certificate programs in specific and/or core competencies for other organization in the region. It’s a terrific professional development benefit for corporations and an interesting way for the Rubel School of Business to connect with employers.
Other Bellarmine on Business Executive Education Topics
Here is a brief list of previous episodes about executive education initiatives:
To Contact Jorge Pazmiño:
Phone: (502) 272-7240
Email: [email protected]
Disclaimer:
The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 13: In today’s episode, host Jim Ray interviews Dr. Mike H. Ryan, Professor of Management and Rubel’s Associate Dean, who also has an extensive background in space-related topics. As private sector activity ramps up, there’s a tremendous future available to us. Join us for an interesting conversation about the business of space.
Elon Musk’s SpaceX recently took 4 civilians into space for the first time. Other high-profile companies such as Richard Branson’s Virgin Galactic and Jeff Bezos’ Blue Origin are also making inroads in to space exploration.
Growing up, Dr. Ryan assumed he might actually take a job in space. As the space race heated up with Sputnik and our mission to the moon, it was hard for him to imagine we wouldn’t go back to the moon during the next 50 years. He spent time in the US Air Force, before returning to school. He completed his Master’s and PhD. Currently, he’s one of the few professors in the US who does research on “space business.”
Dr. Ryan is personally acquainted with Max Faget and also astronauts Buzz Aldrin and Neil Armstrong. He’s written numerous books and 75-100 publications and has given an extensive number of presentations, generally involving some aspect of space.
Space – It’s Just a Place
The idea of working in space can seem intimidating to many. It all seems so complex, even though we are much less intimidated with the idea of working in the oceans. Dr. Ryan explains that it shouldn’t be so difficult to conceptualize. After all, it’s just a place.
If you think about it, the distance it would take to fly from Louisville to Australia on business (9,963 miles) is actually farther than the distance from earth to the international space station (only 254 miles).
Rockets
Everything in space is about getting from point A to point B. Rockets are a primary mode of transportation. As our technology evolved, we transferred from rockets to the space shuttle. Over time, the shuttles became less reliable, so we moved back to travel via rockets. Unfortunately, we had not kept up the investment in this mode, so we relied on rockets from other countries (i.e. Russia).
Dr. Ryan firmly believes there are many other ways in which we could utilize rocket technology, beyond simply putting satellites into space. There are plenty of opportunities for people to work in space, as well. One of the challenge is making the trip and return trip feasible. Reusability is a key consideration. SpaceX and Blue Origin are proving that reusability is absolutely possible.
Over time, reusability reduces the cost of putting people and equipment into space. This opens up the possibility of more frequent visits. The opportunities stretch as far as you can imagine.
Rocket propellant (“fuel”) is actually cheaper than people might imagine. It’s primarily liquid hydrogen and/or liquid oxygen. Both of those are components of water. There may be other options which we could develop to replace liquid rocket fuel.
Dr. Ryan discusses how a “space plane” could be extremely advantageous vs. the rockets we know today. Reusability combined with the ability to take off and land from a variety of locations would reduce the cost of going to low-earth orbit and potentially further.
Mining in Space
Rare elements, minerals and even water are abundant in space. We think about the moon, but also consider asteroids and even Mars. If we can figure out how to maintain supply levels, we could put many more people into space for an extended period of time. Dr. Ryan discusses how something called a “mass driver” working on an electromagnetic rail system could eliminate the need for rocket fuel to get material into low-earth orbit. The mass driver could launch a payload into orbit. This would provide those supply levels, which could then be used for a variety of purposes and destinations.
Dr. Ryan explains that many minerals are extremely abundant in asteroids. He explains that a nickel-iron asteroid the size of UofL’s Cardinal Stadium would provide enough iron ore for approximately 100 years. Many asteroids are composed of water. These could also be captured and brought to earth. The opportunities are simply amazing, if we can figure out how to do it economically and efficiently.
Solar power satellites could be deployed to beam down a constant source of solar energy to provide extremely inexpensive power to specific locations. In expensive electric power could also facilitate the conversion of sea water to fresh water for food growth and sanitation.
Satellites
There are approximately 10,000 satellites currently in orbit. There are a couple hundred thousand pieces of space debris. People are already researching how best to deal with the debris.
We are currently building constellations of satellites. Elon Musk’s team is focusing on communication satellites for cell phones and data. This could dramatically increase speed and availability.
Roadblocks to Commercializing Space
Interestingly, one of the initial roadblocks has to do with treaties sign by and among countries because, at the time, we really didn’t understand the vast opportunities available in space. We simple couldn’t imagine it would one day be possible.
During the next 5, 10 or 50 years, our ability to begin harnessing space opportunities will increase exponentially. We’ll need to find the best way to replace those treaties with some other type of infrastructure.
Because of the sheer size of the earth, the gravity well exerts tremendous pull. Escaping this pull and getting into space adds tremendous cost for our current technologies. If we could figure out how to manufacture in space, theoretically, we could reach much further into space at a more economic level.
The Impact of Space on Kentucky’s Economy
Kentucky’s number one export is space-related aerospace products. Yes, it outpaces bourbon. We export $12-$13 billion in goods, which helps to maintain 19,000 Kentucky jobs among over 600 companies.
Kentucky is #2 in the country for aerospace export.
There’s a company called Space Tango, located in Lexington, with its own testing facility on the international space station.
Where Are We Going from Here?
Dr. Ryan concludes the episode with these comments. In 5 years, we may have commercial space stations. Eventually, we’ll have a much larger commercial space station. Within 15 years, Dr. Ryan sees us having a permanent lunar base. In 20-25 years, we could have a commercial, lunar base. Transportation breakthroughs will determine the pace of these advancements.
Disclaimer: The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 12: In today’s episode, we discuss the partnership between Kroger and the Rubel School of Business, which launched the Kroger Emerging Leaders Program. Ann Reed, Kroger Regional President, Jacqui Fritz, Kroger Assistant HR Leader and Dr. Natasha Munshi, Dean of the Rubel School of Business discuss how the program was conceptualized, developed and implemented to help up and coming Kroger leaders.
In Episode 1, Dr. Munshi described her vision for executive education certificate programs. The opportunity to work with Kroger to custom-develop an Emerging Leaders Program is a result of her passion and execution. This is a significant component of Rubel’s strategic plan.
Professional Development Challenges during the COVID Pandemic
Jacqui discusses a number of challenges Kroger encountered. As Kroger has grown in scale, the training and develop requirements have evolved. Larger volume stores bring their own challenges based on diverse personalities and larger numbers of employees. The technology challenges (i.e. e-commerce) increase as this aspect of sales continues to grow. There’s also the staffing challenges as people retire and move-on. HR looks to identify and cultivate new leaders to help cope with the myriad of both challenges and opportunities.
The Future of Work in the Grocery Retail Business
Ann comments specifically on the pace of change Kroger is experiencing. Food is a substantial part of Kroger’s portfolio. Investing in innovative ways to provide those items, and others, in a competitive environment is tantamount to Kroger’s success. How Kroger thinks about a traditional brick and mortar location is vital to continuing a presence as a local community center.
What Are the Skill Sets and Competencies Kroger Expects as a Result of this Partnership?
There was a lot of discussion about aspirant skill sets and gaps Kroger sees among the new leaders its cultivating. One aspect is equipping them so they have the confidence needed to make solid business decisions on a day-to-day basis. Adapting to the multiple employee groups, in addition to a diverse customer-base, is a specific competency Kroger values and is expecting to provide via its partnership with Rubel.
A confident leader will be ready to execute more effective and more efficiently. In examining the existing gaps, they understood the advantage of additional training in financial concepts and measurements. The program will help Kroger leaders to execute at the departmental levels within the stores.
From a leadership standpoint, specific training effective accountability discussions. Developing to skills and perspectives to lead a large group of employees is a highly-desired aspect of professional develop. Executing on excellence is at the forefront. Kroger and Rubel have designed the Executive Leadership Program to address these and other core (and advanced) managerial competencies.
Ann Reed Discusses Her Inspiration for this Program
Ann originally met Natasha via Susan Donovan, Bellarmine’s President. Both Ann and Natasha recognized the value of the “Zero Hunger. Zero Waste” initiative. Kroger is on a mission to end hunger in the communities it serves. This was the foundation for a working relationship and exploration of additional opportunities.
Ann was aware of some of the partnerships Dr. Munshi had developed in her previous roles, before coming to Bellarmine. Ann wanted to develop a similar development program for Kroger leaders, outside of the internal training already provided by Kroger. There’s value in the networking opportunities and exposure to other leaders in the community.
Initially, Ann and Jacqui were thinking about local-area instructors, but the Rubel School of Business program offered even more. Technology has enabled the program to involve instructors from across the country to participate in the Emerging Leaders Program.
In describing her personal path, a career in the grocery business was not what Ann anticipated. She started in Kroger’s Indianapolis division. She was new to this industry. What inspires her and interests her today are some of the same things she recognized 28 years ago.
The pace of change is something Ann loves. It’s a very kinetic environment with the opportunity in interact with many people and personalities. So many of her special childhood memories were around the table, and Kroger is all about food. In her opinion, there’s no better place to work.
Ann still values those aspects which initially inspired her: People, Serving the Community and Great Food.
Kroger operates in Southern Indiana, Southern Illinois and most of the counties in Kentucky. There are 116 stores employing 19,000 associates and is proud of its 90+ years. Kroger is one of the largest employers in Kentucky. They are the largest market-share grocer in the region. Kroger focuses on its customers. They want to be friendly; the items to be fresh and in-stock every single day.
HRs Targeted Outcomes for the Kroger Emerging Leaders Program
Once a high-potential leader has been identified, he/she may be offered the opportunity to participate in this innovative program. Kroger wants to instill a sense of accomplishment for those who complete this program. The skills and competencies they learn can be applied and demonstrated at the local store level. This creates a natural mentoring opportunity.
The program will drive improved financial results and the team’s ability to deliver an exceptional customer experience.
The overarching concept is that these leaders will be moving up and through the organization. Success as a result of this program will foster employee retention as the leaders pass on those skills to younger leaders and associates.
The Decision to Partner with the Rubel School of Business
Ann commented on how proud she is of what Bellarmine stands for in the community. The innovative approach to a developing a customized experience, using actual Kroger financial information, created in conjunction with Kroger is something that stood out for her. The Kroger leaders will learn using their own data and experiences.
Bellarmine moved extremely quickly to propose a workable concept that both parties refined and finalized together. The speed of development and implementation impressed Ann.
Kroger has really embraced this experience and is confident in how it will help its leaders to rise to the next level.
Natasha comments that the current iteration of the program is done using technology, such as Zoom video. This relates back to how Rubel is incorporating other thought leaders and experts to augment its own faculty in delivering a cutting-edge experience.
Key Take-Aways for other Senior Executives
As we conclude the discussion, we discuss how this type of partnership could help other organizations.
Long-term success is always about your people. The type of programs Rubel can develop can help to demonstrate a company’s commitment to its people and their individual success.
The Rubel team fosters strong communication as the program moves from conceptualization to implementation. This engenders trust and enables a more efficient rollout. It’s a partnership.
The value of the company’s decision to equip its leaders can also help with retention, another key metric for any organization.
As a community, we need to focus on being learners for life. This program provides an innovative opportunity.
While a company may have an internal training and development team, incorporating an external partnership can be exciting. There are outside perspectives and deliverables that could augment the internal team’s efforts.
Bellarmine’s strategic plan involves a focus on enabling transformative business education. In addition to this program, Rubel is also partnering with Kroger in the Rubel School of Business’ Women of Color Entrepreneurial Leadership Certificate. This is another demonstration of Kroger’s commitment to the local community. They sponsored 3 women entrepreneurs so each could participate in the program. We recorded an episode detailing the aspects of the Women of Color Entrepreneurial Leadership Certificate.
Bellarmine’s business school wants to partner with other organizations to enhance our community. We are ready to pursue a similar opportunity with your organization.
THE MONTHLY FORECAST:
Upcoming Events
Fall 2021 – Mentoring Opportunities – This continues to be a strength of the Bellarmine experience. Many fellow alumni mentor undergraduates and that opportunity continues to benefit the Bellarmine community. Click here for more information.
9/11/21 – Women of Color Entrepreneurial Pitch Contest – As part of Dr. Munshi’s strategic plan for Rubel, this event provides an opportunity to see ideas and concepts being pitched for possible backing and sponsorship. Click here for more information.
9/16/21 – Bellarmine Alumni Awards Celebration – Join Bellarmine in celebrating our distinguished alumni award recipients. This exciting evening will be part of our inaugural Alumni Weekend. Click here for more information.
9/30/21 – Dean’s Executive Speaker Series – We are finalizing our guest speaker for this event. The website will be updated soon. Click here for more information.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
Episode 11: Host Jim Ray interviews Dr. Frank Raymond Professor of Economics and Chris Cloonan who is Cuba Policy Fellow for Just Foreign Policy, an NGO actively working with members of the US Congress on Cuba policy. The protests in Cuba are receiving a lot of media coverage, so we thought it would be interesting to share some perspectives on root causes and possible objectives.
Please understand, this topic can be both politically and emotionally charged. It’s our goal to provide perspectives on this multi-faceted issue.
Editor's Note: This episode was recorded remotely, so the audio quality is different from our normal podcast episodes.
Dr. Raymond has a background in international economic development. The Rubel School of Business has an international experience requirement, as part of the MBA program. Several years ago, an excursion to Havana and some surrounding areas was developed as an option for this international experience.
Chris Cloonan completed part of his Master’s program at the University of Havana. His Master’s thesis focused on a proposed normalization between the US and Cuba. Chris spent 2013 and 2014 in Cuba. Later in 2014, then President Obama began taking steps toward that normalization. Chris published a normalization proposal with the help of Just Foreign Policy. They published is proposal and hired him to assist with legislative efforts.
From a purely economic perspective, the US has had a long-term economic embargo on Cuba. There have been some brief thaws, leading to a somewhat inconsistent posture. Dr. Raymond explains that over the centuries, long-term embargoes never work. Locals end up digging in their heels and the country responsible for the embargo ends up being viewed as the bad guy.
Obviously, short-term embargoes (e.g. during a state of war) can work to some effect. The issue is the failure of long-term embargoes used to nation-build.
Foreign Policy Influence by Domestic Policy
Chris’ perspective is that the US foreign policy toward Cuba is actually a reflection of US domestic policy. He goes on to explain that Florida’s swing state status strongly influences the stance of our foreign policy, by way of the Cuban-American voters. This has left us fairly isolated on this topic, internationally.
Dr. Raymond explains the wide-reaching impact of the US embargo. It prohibits countries which decide to trade with Cuba from doing business with the United States. The attractiveness of the US domestic market provides leverage against engaging with Cuba. There are some countries not currently doing business in the US and thus engaging in the Cuban economy. Then there’s China.
Economically, we still engage with China on an economic level. While China does conduct business with Cuba, we tend to look the other way, based on our own interests. The risk is having China heavily investing in a country with such a close proximity.
Chris goes on to explain how the goals of the Cuban-American voters, and those of the former Trump administration policies, actually bring about the exact opposite results. He states the sanctions, continued with little change under the Biden administration, have invited Chinese and Russian investment into Cuba.
During the period of opening under former President Obama, there was an easing of internet restrictions, cell phone ownership grew (including phones with internet capabilities), access to tourism facilities increased and licenses to open small businesses exploded. The Cuban government showed a greater tolerance for independent media and freedom of the press.
Once the Cuban population began protesting for food, medicine and better economic conditions, the Cuban government shut down the internet access. Chris states the impact is counter-intuitive, but the Cuban people fair better when sanctions are eased.
Interestingly, direct change to a democratic republic, might actually be dangerous. This would be a significant shock to the Cuban economy and infrastructure, which could derail its success. Cubans have experienced 400 years of Spanish colonial rule. The US later supported the Batista regime, which Castro overthrew. While the US helped to build much of the existing infrastructure in Cuba, it’s aged. The Cuban people are wary of perceived colonial powers seeking influence in Cuba.
What Sparked the Cuban Protests?
Chris explains that this isn’t really a move toward democracy. It’s important to put into perspective the Cuban experience with democracy. After the Spanish-American war, there was a lot of racial tensions surrounding the elections. The government was later overthrown 3 times in 26 years. During the last 60+ years, despite the problems of the Cuban government, it’s been stable.
The protests, in Chris’ view, are actually a reaction to the US sanctions. They are forcing the people into the streets. However, the food shortages, blackouts, lack of access to medicine and the lack of COVID vaccinations, among other issues are coming to a head. The most common word used in these protests is Libertad (“freedom” not “democracy”). It’s actually a vague term. He feels it’s a quality of life issue, not so much an issue of politics.
Dr. Raymond discusses the issues related to a command and control economy. It’s an inefficient market resulting in shortages and surpluses. It’s not a good system for the distribution of goods and services. It’s restrictive in terms of the ability for an individual to pursue his/her type of job or profession. There are many ongoing distortions. This underscores the people focusing on their immediate needs over some sort of regime change.
Different Opinions, but not Misinformed
The Cuban population is very well-educated and also well-informed about domestic and global issues. Millions of Cubans live abroad and are able to maintain connections with people still living on the island. There’s a constant exchange of information, that gets around the state-controlled media. Living under the current system, people form their own opinions.
Dr. Raymond reminds us that even in the US, a person’s political affiliation generally follow that of their parents/friends and where they grew up. We have common aspirations for the education of our children, good jobs and to provide for our families
Americans tend to view issues as either black or white, but in life there is a tremendous amount of gray in between. This may in fact explain part of what we’re seeing in Cuba, right now.
To Contact Dr. Raymond: https://www.bellarmine.edu/rubel-school-of-business/faculty
To Contact Chris Cloonan: [email protected]
THE MONTHLY FORECAST:
Upcoming Events
8/19/21 – Dean’s Executive Speaker Series – Natalia Bishop Founder and CEO of Level Up will discuss her background and provide advice. Click here for more information.
9/16/21 – Dean’s Executive Speaker Series – Jeff Calderon, Director and Partner at DMLO. For more information, click here. Bellarmine Career Development Service – This service is open to both Bellarmine students and alumni. Is it time to make a change? Click here to contact learn how Bellarmine can help.
Want to Listen to Additional Episodes?
You can find additional episodes on the Rubel School of Business Podcast page of the Bellarmine website, various Bellarmine social media pages, Apple Podcasts, Google Podcasts, Spotify, Amazon Music, Audible, Libsyn, Podchaser and many other podcast directories. We encourage you to subscribe to our podcast so you don’t miss an episode.
Interested in Developing a Podcast for Your Business or Organization?
This podcast was produced by Jim Ray Consulting Services. Jim Ray, host of the Bellarmine on Business podcast, can help you with the concept development, implementation, production and distribution of your own podcast. For more information, visit: https://jimrayconsultingservices.com/podcastproduction.
The podcast currently has 22 episodes available.