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# Calling Chicago (Booth) Applicants for 2009

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Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
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Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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01 Dec 2008, 16:58
rhyme wrote:
I thought I'd share a little prep from this week's pre-final studying. My answers below for comparison.

1. Consider a single period problem where investors are risk-neutral, the risk-free interest rate is zero, and there are no taxes. A firm consists of a machine that will produce cash flows of \$210 if the economy is good and \$80 if the economy is bad. The good and bad states occur with equal probability. Initially, the firm has 100 shares outstanding and debt with a face value of \$50 due at the end of the period. What is the share price of the firm?

Why bother? Whatever it is, its going down in this market.

2. Suppose the firm in question 1 unexpectedly announces that it will issue additional debt, with the same seniority as existing debt and a face value of \$50. The firm will use the entire proceeds to repurchase some of the outstanding shares.

(a) What is the market price of the new debt?
(b) Just after the announcement, what will the price of a share jump to?
(c) How does all this affect the value of the firm (debt plus equity)?

(a) Who cares?
(b) Why does it matter? It'll probably just drop when people realize how crappy this firm is.
(c) It doesn't. The firm sucks with or without debt at any level of seniority.

LMAO.....I see how weel your studies are going...
_________________

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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01 Dec 2008, 17:03
Alright, I have a few minutes to breathe now, so I will post my re-cap.

Once again, I was blown away by the facilities and the professionalism of the admissions staff and process. They are very organized and on top of it. During my only other business school interview so far (at another school) - the interviewer did not take the time to read my resume before the interview, and he barely glanced at it during the interview. My interviewer at Chicago not only took the time to review my resume prior to our interview, but came up with interesting and specific questions to ask related to my resume. I was impressed by this, as well as the organization and professionalism of everyone in the admissions office. Chicago is definitely a model for how any school should treat their prospective students. Whether the schools like it or not, students do pay attention and the opinion that they form of the admissions office will likely be what they think of career services and the rest of the administration.

Interview questions:

- Short and long-term goals
- I noticed you're involved in this specific extra-curricular, tell me more about it
- What do you do for fun?
- I said my long-term goal was entrepeneurship. The interviewer asked why not private equity? and we explored this a bit.
- What will you do if you are not admitted this year?
- I noticed you trained and hired a subordinate at work. How would this person describe you?
- What makes you different from the masses of other "Finance guys" applying to our school?
- Any other things you would like to tell me about yourself?

The interviewer was a 2nd year student going into General Management at an F500 and was very professional and upbeat. They definitely enjoyed their time at Booth and were open to speaking about it candidly. After my interview, I had lunch with rhyme, kwam, and dabots and that certainly provided a different and valuable perspective as well (i.e. off the record and outside of the admissions process).

The biggest thing that I took away from today is how humbling business school is going to be. So many of us are used to being in the top 1-5% at our places of employment, undergrad schools, by GMAT scores, etc. When you get to a school like Chicago, almost everyone feels like an average joe due to the high caliber of students. This feeling was invigorating and made me really excited about business school in general (regardless of where I end up).

I'll be twiddling my thumbs and anxiously awaiting decisions in 2 weeks like the rest of you! Best of luck to everyone.
_________________

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Current Student
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Schools: CBS, Cornell, Duke, Ross, Darden
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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01 Dec 2008, 17:10
agold wrote:
Alright, I have a few minutes to breathe now, so I will post my re-cap.

I'll be twiddling my thumbs and anxiously awaiting decisions in 2 weeks like the rest of you! Best of luck to everyone.

Sounds like a GREAT visit. I'm also looking forward to hearing your decision results. All the best!

Kudos [?]: 206 [0], given: 4

GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926

Kudos [?]: 2194 [1], given: 7

Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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01 Dec 2008, 17:11
1
KUDOS
My apologies to those of you that visited today... it was kind of a hectic day for me and I didn't really do much of a job as host (at least compared to my usual). Particular apologies to the individual who called me at 1:30 or so.... (no names for privacy I suppose) .... I was in the middle of an important call sorry I didnt reconnect - it lasted a while and then I had to run back to a meeting. I owe you one.... agold, sorry for the distracted attitude today, again, my mind has kind of been elsewhere.

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VP
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Posts: 1045

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Location: New York, NY
Schools: Chicago Booth Class of 2010
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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01 Dec 2008, 19:43
And here it goes my cohort's movie, though they haven't used my scene (I guess my Brazilian accent was the reason ):
_________________

Rhyme´s guide to interviewing
http://www.gmatclub.com/forum/t55030

Kwam's Profile
http://gmatclub.com/forum/111-t57360

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Current Student
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Schools: Wharton, LBS, UChicago, Kellogg MMM (Donald Jacobs Scholarship), Stanford, HBS
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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02 Dec 2008, 02:21
rhyme wrote:
I thought I'd share a little prep from this week's pre-final studying. My answers below for comparison.

1. Consider a single period problem where investors are risk-neutral, the risk-free interest rate is zero, and there are no taxes. A firm consists of a machine that will produce cash flows of \$210 if the economy is good and \$80 if the economy is bad. The good and bad states occur with equal probability. Initially, the firm has 100 shares outstanding and debt with a face value of \$50 due at the end of the period. What is the share price of the firm?

Why bother? Whatever it is, its going down in this market.

2. Suppose the firm in question 1 unexpectedly announces that it will issue additional debt, with the same seniority as existing debt and a face value of \$50. The firm will use the entire proceeds to repurchase some of the outstanding shares.

(a) What is the market price of the new debt?
(b) Just after the announcement, what will the price of a share jump to?
(c) How does all this affect the value of the firm (debt plus equity)?

(a) Who cares?
(b) Why does it matter? It'll probably just drop when people realize how crappy this firm is.
(c) It doesn't. The firm sucks with or without debt at any level of seniority.

If there was a poll for "post of the year", this would be my pick. It's a work of genius.

Kudos [?]: 140 [0], given: 3

GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926

Kudos [?]: 2194 [0], given: 7

Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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02 Dec 2008, 06:25

1. Consider a single period problem where investors are risk-neutral, the risk-free interest rate is zero, and there are no taxes. A firm consists of a machine that will produce cash flows of \$210 if the economy is good and \$80 if the economy is bad. The good and bad states occur with equal probability. Initially, the firm has 100 shares outstanding and debt with a face value of \$50 due at the end of the period. What is the share price of the firm?

\$80 * .5 + \$210 * .5 = \$145 in expected equity. Minus the \$50 of probably soon to be insolvent-debt, means we have ourselves \$95 in equity, divided by 100 mostly worthless shares, gives us \$0.95 Debased American Puppet Currency per share.

2. Suppose the firm in question 1 unexpectedly announces that it will issue additional debt, with the same seniority as existing debt and a face value of \$50. The firm will use the entire proceeds to repurchase some of the outstanding shares.

(a) What is the market price of the new debt?
(b) Just after the announcement, what will the price of a share jump to?
(c) How does all this affect the value of the firm (debt plus equity)?

(a) Well, the idiot who gave the debt to the firm didn't think of making it senior, so his dumbass now has to split the \$80 with the other guy evenly like a tool:

\$50 * .5 + \$40 * .5 = \$45.

So it's worth \$45.

(b) Immediately after, it'll probably crater, but assuming that investors are rational, and of course, we know they arent based on the fricking markets dropping 8% because *NEWSFLASH* America is in a recession (Really? That wasn't priced in already?)... well in that case lets see...

First we know that they will take this \$45 (soon to be called "Amero-Euro"s) and buy back n worthless shares at an overvalued price we will call p. We also know that the remaining value of the equity in each scenario is as follows: .5 * 210 - 100 + .5 * 0 = \$55, provided the fed stops printing cash. Otherwise discount by 1.9^8000. Thus (100-n)*s = \$55. Solve for n, and solve for s, and you realize that ROI(MBA) can be negative, but you also realize S=1 and n=45.

(c) no change because the firm will be worth \$0 in any situation

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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02 Dec 2008, 16:05
Hi all - had my interview this afternoon.

After doing this for two years (re-app), I've come a few conclusions about the interview:

- The interview is a lot tougher than you think...
- I doubt anyone who interviews on campus will ever think their interview went badly

Let me explain - I've interviewed on campus two years in a row, and have gotten pretty much the same questions both years (Resume, Why MBA, Why Booth/GSB, Short Term & Long Term Goals...). These questions are pretty standard, and every potential MBA student should have them answered before even finishing their application. Thus, upon interviewing and leaving, you should feel pretty good about yourself - I mean you were able to answer everything they threw at you, right??? This is why I say that I doubt anyone who interviews on campus will every believe that their interview went badly.

But this is a huge fallacy in my eyes - the interviewers are asking you very open-ended questions on purpose. They are giving you the time to tell you story and really show fit. When preparing your answers, you better be conscious of your communication style, the words you choose and the overall theme of "you". Last year, I focused on telling my story, who I was, who I wanted to be, etc. I spoke about fit briefly and ended up getting waitlisted through the summer...

I don't know if it will make a difference, but my interview this year was much more geared towards Booth culture than last year. My story wasn't much different, my experiences didn't change all that much, but I made an effort to sell myself from a fit standpoint. I spoke heavily about self-awareness, challenging the status quo and the need for understanding business fundamentals vs. business trends.

I guess I'll find out if it helped in about 2 weeks.

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GMAT 3: 740 Q40 V50
GMAT 4: 700 Q48 V38
GMAT 5: 710 Q45 V41
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GMAT 9: 740 Q49 V42
GMAT 11: 500 Q47 V33
GMAT 14: 760 Q49 V44
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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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02 Dec 2008, 17:51
Hm, although I'm not a reapp, I'm not sure I completely agree with you. Many people I've known have had on campus interviews, perhaps not at Booth, but at other schools, and did not feel it went great.

I think it all comes down to how do you convey yourself, and are your goals and experience really as great as you may think it is in comparison to what your interviewer is perceiving. We all have different ways we'd like to come across. For me, I think it's important to be confident, yet humble, social and comfortable, yet focused. I believe fit is determined more by who you are and how you convey it in words, rather than hitting x,y, and z in an interview. It's always important to highlight what a school offers and why it fits with your goals, personality, etc. But I just view it like how I feel when I interview candidates for my company. If they are a fit, they are a fit. A good resume is always a definite, but if they aren't what I'm looking for.. even if I can't put my finger on it, they aren't getting the position.

The interview is very subjective, which is why I don't think it's the make or break factor. Unless you completely blow it by offending them, are socially awkward, or are too over confident or are too meek.

That's just my opinion though - I'm sure you did great, and your reapplication shows how much you want to attend. I wouldn't stress too much about it, and I bet you did a ton better than those of us who are new to this.

sigity wrote:
Hi all - had my interview this afternoon.

After doing this for two years (re-app), I've come a few conclusions about the interview:

- The interview is a lot tougher than you think...
- I doubt anyone who interviews on campus will ever think their interview went badly

Let me explain - I've interviewed on campus two years in a row, and have gotten pretty much the same questions both years (Resume, Why MBA, Why Booth/GSB, Short Term & Long Term Goals...). These questions are pretty standard, and every potential MBA student should have them answered before even finishing their application. Thus, upon interviewing and leaving, you should feel pretty good about yourself - I mean you were able to answer everything they threw at you, right??? This is why I say that I doubt anyone who interviews on campus will every believe that their interview went badly.

But this is a huge fallacy in my eyes - the interviewers are asking you very open-ended questions on purpose. They are giving you the time to tell you story and really show fit. When preparing your answers, you better be conscious of your communication style, the words you choose and the overall theme of "you". Last year, I focused on telling my story, who I was, who I wanted to be, etc. I spoke about fit briefly and ended up getting waitlisted through the summer...

I don't know if it will make a difference, but my interview this year was much more geared towards Booth culture than last year. My story wasn't much different, my experiences didn't change all that much, but I made an effort to sell myself from a fit standpoint. I spoke heavily about self-awareness, challenging the status quo and the need for understanding business fundamentals vs. business trends.

I guess I'll find out if it helped in about 2 weeks.

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 00:15
Am I accepted? Rose asked me to "join the community"!

Or maybe she said that to everyone.

Quote:

Dear Benjamin:

Last month, business school alumnus David Booth, '71, made an extraordinary \$300 million gift, the largest to any business school in the world. In recognition, we are now called the University of Chicago Booth School of Business.

Captivated by the ideas he learned from his very first professor, Eugene Fama, Booth's success and his gift are an affirmation of the power of ideas which is at the heart of the Chicago Approach.

As with David Booth, ideas can change the face of business. At Chicago Booth, they will change you.

We have the flexibility to lead and be bold.
We will attract the best students.
We will develop alumni who do amazing things.

Warm regards,

Rose Martinelli

CRUEL!

_________________

http://bent.tw

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 00:35
Got the same thing. Can't wait any longer...

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 01:17
Haha I didn't mind that e-mail. It's not like they sent it on the morning of December 18th
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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 05:25
got that email too

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 07:04
I certainly agree with everything you say below, especially about how you present yourself, being honest, etc...the point I wanted to make is that its easy to believe your interview went "well" based on the way that Chicago holds their interviews. I strongly believe Booth when they say that fit matters most. Personally, I do believe that Booth is a perfect fit for me and what I would like to do and I realized this year that I probably didn't do a great job of telling them that my last year's application/interview (but I still thought it went "well").

I certainly hope that people aren't forcing themselves to "fit" into a culture or a program doesn't feel right...in the long run, this will probably only hurt.

Thanks for the good wishes jlola...

jlola21 wrote:
Hm, although I'm not a reapp, I'm not sure I completely agree with you. Many people I've known have had on campus interviews, perhaps not at Booth, but at other schools, and did not feel it went great.

I think it all comes down to how do you convey yourself, and are your goals and experience really as great as you may think it is in comparison to what your interviewer is perceiving. We all have different ways we'd like to come across. For me, I think it's important to be confident, yet humble, social and comfortable, yet focused. I believe fit is determined more by who you are and how you convey it in words, rather than hitting x,y, and z in an interview. It's always important to highlight what a school offers and why it fits with your goals, personality, etc. But I just view it like how I feel when I interview candidates for my company. If they are a fit, they are a fit. A good resume is always a definite, but if they aren't what I'm looking for.. even if I can't put my finger on it, they aren't getting the position.

The interview is very subjective, which is why I don't think it's the make or break factor. Unless you completely blow it by offending them, are socially awkward, or are too over confident or are too meek.

That's just my opinion though - I'm sure you did great, and your reapplication shows how much you want to attend. I wouldn't stress too much about it, and I bet you did a ton better than those of us who are new to this.

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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03 Dec 2008, 22:28
Guys one quick question, Do you know whether Chicago releases all decisions regardless of outcome (admit, denied, W/L) on the 18th, or does it release some admits a few days before?

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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04 Dec 2008, 01:39
riccardinho wrote:
Guys one quick question, Do you know whether Chicago releases all decisions regardless of outcome (admit, denied, W/L) on the 18th, or does it release some admits a few days before?

I also wondering about the same .. any help is appreciated folks

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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04 Dec 2008, 04:21
riccardinho wrote:
Guys one quick question, Do you know whether Chicago releases all decisions regardless of outcome (admit, denied, W/L) on the 18th, or does it release some admits a few days before?

I believe they do 2-3 days before, and on the day of are usually dings.

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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04 Dec 2008, 06:14
jlola21 wrote:
riccardinho wrote:
Guys one quick question, Do you know whether Chicago releases all decisions regardless of outcome (admit, denied, W/L) on the 18th, or does it release some admits a few days before?

I believe they do 2-3 days before, and on the day of are usually dings.

This is correct. For the last two years, admit calls have started coming out approximately 2 days prior - and with almost total certainty, those who do not hear prior to the 18th, are either waitlisted or denied. Also, the decisions that come out on the 18th are instantaneous at 9am (via email/online).

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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04 Dec 2008, 13:11
rhyme wrote:
jlola21 wrote:
riccardinho wrote:
Guys one quick question, Do you know whether Chicago releases all decisions regardless of outcome (admit, denied, W/L) on the 18th, or does it release some admits a few days before?

I believe they do 2-3 days before, and on the day of are usually dings.

This is correct. For the last two years, admit calls have started coming out approximately 2 days prior - and with almost total certainty, those who do not hear prior to the 18th, are either waitlisted or denied. Also, the decisions that come out on the 18th are instantaneous at 9am (via email/online).

This was my experience last year (twice), first time I was waitlisted in R2, the second time was R3. Both times the process worked exactly as described above. In R1 last year, however, I remember reading that final decisions came out as far as four days in advance of the deadline...with all the forums that exist, i'm sure we will all know as soon as decisions begin rolling out...

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Re: Calling Chicago (Booth) Applicants for 2009 [#permalink]

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04 Dec 2008, 13:36
Last year I got the call 3 days in advance for Round 2 apps...it was an acceptance. The scholarship call came on the expected date...oh well, I wasn't complaining. I deferrered (don't ask how, Rose said to be hush-hush), and will be attending next year...hopefully I see some of you there!

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Re: Calling Chicago (Booth) Applicants for 2009   [#permalink] 04 Dec 2008, 13:36

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