Recreational Food Service Management: A New Academic Challenge

The School of Hospitality Management at Florida International University recently offered a new course, recreational food service management, in an effort to address the specialized needs of that segment of the industry. The author discusses the size and scope of this area, its history and presentations, its specialized operational nature, its menu structure and style of service, and the unique management requirements for success.

The effect of the business cycle on the performance of socially responsible equity mutual funds

The current study applies a two-state switching regression model to examine the behavior of a hypothetical portfolio of ten socially responsible (SRI) equity mutual funds during the expansion and contraction phases of US business cycles between April 1991 and June 2009, based on the Carhart four-factor model, using monthly data. The model identified a business cycle effect on the performance of SRI equity mutual funds. Fund returns were less volatile during expansion/peaks than during contraction/troughs, as indicated by the standard deviation of returns. During contraction/troughs, fund excess returns were explained by the differential in returns between small and large companies, the difference between the returns on stocks trading at high and low Book-to-Market Value, the market excess return over the risk-free rate, and fund objective. During contraction/troughs, smaller companies offered higher returns than larger companies (ci = 0.26, p = 0.01), undervalued stocks out-performed high growth stocks (h i = 0.39, p <0.0001), and funds with growth objectives out-performed funds with other objectives (oi = 0.01, p = 0.02). The hypothetical SRI portfolio was less risky than the market (bi = 0.74, p <0.0001). During expansion/peaks, fund excess returns were explained by the market excess return over the risk-free rate, and fund objective. Funds with other objectives, such as balanced funds and income funds out-performed funds with growth objectives (oi = −0.01, p = 0.03). The hypothetical SRI portfolio exhibited similar risk as the market (bi = 0.93, p <0.0001). The SRI investor adds a third criterion to the risk and return trade-off of traditional portfolio theory. This constraint is social performance. The research suggests that managers of SRI equity mutual funds may diminish value by using social and ethical criteria to select stocks, but add value by superior stock selection. The result is that the performance of SRI mutual funds is very similar to that of the market. There was no difference in the value added among secular SRI, religious SRI, and vice screens.

Facilities Tour

Outline of the COM facilities tour.

AHSC Facilities Master Plan

Plans and projections for the development of the Academic Health Sciences facility.

Board of Governors Meeting-State University System of Florida, Facilities Committee

Board of Governors Meeting of the State University System of Florida, Facilities Committee. Meeting held at Graham Center Ballroom, Modesto Maidique Campus, Florida International University on September 14, 2011

A study for the establishment of higher foodservice standards in health-care facilities

1. Area of Investigation The relative need of higher standards in healthcare foodservice facilities. Individual opinions of foodservice directors. 2. Materials and Methods Used Existing text, trade publications, interviews with industry leaders, conferences with estemmed professors and the author's own experience were used for research and evaluation. An important method used to evaluate the need for higher standards was a descriptive survey and the analysis thereof. 3. Major Findings A. The survey showed, with a 42 percent response, that the overwhelming majority of the respondents have problems within their department. B. It is presumed that these problems are caused by a lack of standards and/or a failure to meet existing standards. 4. Results and Conclusions A. The objectives of the majority of health-care facilities is to provide the best possible care at lowest possible price. The objectives of the foodservice department is to provide the best possible food at the most reasonable cost. B. Continuous education of foodservice directors in all facets of the industry are necessary so that each foodservice director has the capacity to establish and maintain, and in some cases surpass his or her own standards. C. Where no standards exist minimum requirements should be set to satisfy the objectives and goals of both the facility and foodservice department.