- Stockholm School of Economics in Riga

Vai
dot
as
We hope that this Insider will be read in the beach or in the office
during one's internship and that you will find it interesting and
amusing. Furthermore, we wish you to have a lot of adventures
during the summer, both in your leisure time and internships and,
of course, to be full of emotions when we will see you after
summer. Have a nice summer and lots of fun!
Vaidotas & Donatas
Arvydas
Still there were some other things to cover too. Peak Time brought
fun, friends and more fun to our school, winners' compadres share
their experiences. The player touches both notorious and loveable
table football's sides. SSE Rigians activities outdoors described as
well as Gintare shared her impressions from the city of luxury and
wonders – Dubai. In the excellence part two outstanding lectures
were interviewed for students to know them better. And, of
course, some gossips as always.
s
ta
na
Do
Another year is over and we are happy to present you the last
Insider this academic year. Year 3 spread their wings and are off to
meet the “angry boss” (reference to Karolis Šella); well, even better
for us – another 95 students to write about in the success stories
and still several years without meeting the “angry boss”.
Graduation ceremony was superb, party – even better, with plenty
of gossips and things to write about. On behalf of the Insider we
would like to thank all Year 3 for writing, for being the ones to
write about, for being with us and for not being with us
(sometimes) and we hope that many times in the future we will
write about you with pride and honour. Thank you and
congratulations!
@
We are waiting for your
articles/comments/gossips/photos/
etc. at insider.sseriga@gmail.com
Morten’s Column
Saturday 2 June was graduation day at SSE Riga. I was there
since I like that day – only happy faces and some even want
their picture taken together with me. Beauty and the Beast, I
wonder?!?
Well, it is also a good day to talk to students, ups, sorry,
graduates, new ones as well as older ones who have stopped
by to congratulate their peers about what they are doing
now. Increasingly, the answers I get are like this: “Asset
management”, “real estate”, “banking” etc. A few years back
the typical answer would have been “consulting” but
seemingly not so anymore.
As you have already guessed this change can of course be
explained by economics…. As GDP has grown considerably in
all three Baltic States there are actually assets to manage
now. And since houses and apartments are very income
elastic goods, their prices have soared as incomes have
grown, also helped by very low interest rates, which are due
to (reasonably) credible fixed exchange rates, free capital
mobility and free and unlimited convertibility.
Macroeconomics rules!
And why move into asset management, real estate or
banking in the first place? Profit opportunities, of course!
Microeconomics rules, too!
But is there a real estate bubble, some ask, whispering? Good
question but hard to answer although a lot points in that
direction while some say that it is a perfectly normal
development we see – and that is also typical for economics.
As the old saying goes, if you have two economists you can be
sure of at least three different opinions – at least if one of the
economists is Keynes. Economics rules – but is sometimes
difficult to apply.
To graduates and students alike: Have a great, great summer,
whether you add to GDP or go on holiday!
| Published in Stockholm School of Economics in Riga | Strelnieku 4a, Riga LV-1010 |
2|INSIDER June 2007
Info.com
The SSE Riga GRADUATION CEREMONY took place in Congress Hall
on the 2nd of June. 95 BSc students and 14 Executive MBA
students were awarded diplomas. All students, alumni and the
school's partners and benefactors were invited to the ceremony.
The U.S. Ambassador to Latvia, H.E. Catherine Todd Bailey, gave a
speech.
On the 31st of May, a shot film festival “Too Short to Suck” took
place at SSER. Students were invited to two guest lectures about
career blogging and marketing and advertising. The world's best
advertisements were shown, and an award ceremony of the film
festival took place (the winners got very attractive prizes from Je
Joue sponsor LifeStyles).
During the ceremony, SIA IBS Prudentia presented a scholarship to
Vilius Maniusis and Mykantas Urba for the best bachelor's thesis
this year.
On the 7th of June, a professional instructor taught students Irish
line dances. Concert “Summer Tune Records” took place.
Everyone was be able to sing karaoke on the stage. Finally, Je Joue
closing ceremony took place.
Hansabanka and the Scholarship Fund of the University of Latvia
are organizing the "Open Mind" scholarship competition where
15 universities in Latvia are involved. SSE Riga is among those
universities. Full time students in their first or second year of
studies were invited to apply for the scholarships by May 30. All
information about the scholarship competition is available at
www.open.lv. Hansabanka also sponsored SSE Riga. The money
will be spent for SSER sports activities and Summer Symposium.
Graduation party was organized on the 2nd of June. It started at
10pm, and finished sometime in the morning… At midnight,
students in a formal dress-code admired fireworks.
Ideju Kauss 2007, a business idea competition organized by SSER
Business Development Lab, has started. Teams had to submit a
short business idea description until the 28th of May; they will
later have to write a complete business plan for the idea. The idea
must be connected to Latvia, yet the participants can also be
Estonian or Lithuanian. The prize fund is 13200 LVL.
A football tournament took place in the beginning of May.
Currently, table football tournament is taking place. It is expected
to end in the middle of this week. In June, two sports events will
take place. First of all, students will be invited to the beach to play
Frisbee, beach football, volleyball, maybe some other games.
What is more, paint ball is planned for June.
On May 10-13 SSE Riga hosted the 8th annual International
Business Student Competition Peak Time 2007. Twenty two teams
from Austria, Belarus, Brazil, Costa Rica, Estonia, Germany,
Iceland, India, Indonesia, Kazakhstan, Latvia, Lithuania, the
Netherlands, Norway, Poland, Romania, Russia and Singapore,
Spain, South Africa, Sweden, Taiwan, Turkey, Ukraine competed in
business simulation CESIM, case study analyses and
presentations. The winners of Peak Time 2007 are uNeek
(National University of Singapore, Singapore Management
University); the second place winners are JETS Team (SSE Riga,
Jönköping International Business School, IMC University of
Applied Sciences Krems) and the third places winners are Tetra
Threat (National University of Singapore).
SSE Riga and its sponsors are very generous to the top-scoring
students. 200 LVL for the only 'excellent' in Macroeconomics went
to Irina Beinarovica. Lattelecom, the Golden Sponsors of the SA,
has decided to give a scholarship of 200 LVL for the Marketing
course. The scholarship will be given to the student, who will have
overall top score for the course. The company will also give 200
LVL also for the Human Resource Management course. This time
the money will go to “The most promising student”, who will be
named by HRM lecturer Jorgen Hansson.
The annual student competition "EKU DRUDZIS 2007" took place
on May 5 at SSE Riga. In tough competition the SSE Riga team Deniss Aksjonovs, Natalija Avramenko, Aleksandrs Iïkuns and
Viktorija Rudzîte - became winners of "EKU DRUDZIS 2007".
SA
The Yearbook is finally published and handed out to the new
graduates of SSE Riga.
Admission Process
855 students from Lithuania, Latvia and Estonia applied for
bachelor's program at SSER. The names of the applicants have
been already submitted to the National Examination Centers. At
the end of June the final stage of admission process will begin. At
the end of July invitation letters will be sent out. SA will include a
welcome message in Lithuanian/Latvian/Estonian to welcome the
new Year 1 students.
Student Activities
The Board Game Club has organized the first SSER Settlers of
Catan Championship. It started on the 28th of May and will finish
on the 16th of June. That Saturday, semi-finals and finals will take
place, and the winners will be announced. There are 22 people
participating in the event (SSER students and one graduate).
Prizes will most probably be coupons for some board games.
The Charity Group's fund-raising campaign proved to be rather
successful. SEB Unibanka donated 6 computers and 2 printers,
which were later allocated among few orphanages. In June, July
and August the group will be having a summer break.
The first Je Joue day took place on the 17th of May. The Drama
Club's performance was followed by some dances and a mini
concert of SSE Riga Choir.
On the 24th of May, students were able to paint on SSER windows,
saw various exhibitions, and a fashion show.
Estonia (12.22%)
Lithuania (22.53%)
Latvia (61.10%)
Total
Female
55
72
283
410
Male
54
129
262
445
Total
109
201
545
855
News from the Administration
End of the year ceremony will take place on the 20th of June in the
lobby and yard. Students will get an opportunity to taste some
beer and snacks.
June 15 – 16 SSER will host International Nordic – Baltic
Conference of the World Federation of Language Teacher
Associations. The first day, the opening ceremony will take place.
Diana Pauna, SSER Pro-rector, will welcome the participants.
Parallel sessions in various languages (English, French, Latvian,
Russian and German) will take place throughout the day.
2007 June INSIDER|3
News
For 2007, two scholarships from the Staffan Burenstam Linder
Foundation of up to SEK 100.000 (approximately EUR 10.500) are
available to SSE Riga graduates for studies at the Masters or
Doctoral level in the Nordic countries. The deadline for application
was the 15th of May. Applicants had to submit their CVs,
statements of purpose and budgets for the academic year
2007/2008.
On June 1 – 2, EPAMA project “Enterprise Performance Analysis –
Management Assessment Results of Latvia” was be presented.
The authors of the project are Aivars Timofejevs (SSER Faculty),
Gerda Reza and Zanda Indriksone (class of 2006). The
representatives from three universities were present: Greifswald
University in Germany, Gotland University in Sweden, and
Stockholm School of Economics in Riga.
On June 13, FICIL (Foreign Investors Council in Latvia) special
project “Strengthening Latvia's Competitiveness through the
Promotion of Excellence” will take place. SSE Riga is a co-organizer
of the event.
On the 1st of June, a TeliaSonera visited SSER. The company's CEO
Anders Igel had a meeting with Anders Paalzow and held a guest
seminar and a press conference. After that, a reception in SSER
lounge followed. TeliaSonera made a new very generous donation
to SSE Riga.
May 21 – June 1 SSE Riga Executive Education invited employees
with high potential and senior-level managers to participate in the
Strategic Management Program (an intensive, two-week "miniMBA" program). 25 people mostly from international companies
(1 Lithuanian, 2 Finns, and 22 Latvians) participated in the
program. The program covered five key management areas:
Marketing, Finance, Strategy, Organizational Management, and
Human Resource Management. The program was organized by
the William Davidson Institute at the University of Michigan, in
cooperation with SSE Riga.
A seminar (BICEPS/SSE Riga Seminar Series) “Impact of Subsidies
and Payroll Taxes on Firm Creation and Employment in Central
Europe” was held by Zuzana Brixiova on the 28th of May.
A seminar (BICEPS/SSE Riga Seminar Series) “The financial
structure of leveraged buyouts” was held by Ulf Axelson on the
17th of May.
Competitions
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Annual economics competition for students Eku Drudzis
took place this year at SSE Riga premises, and was
organized by Y1 students: Irina B., Katrīna B., Anastasija
D., Dmitrijs G., Svetlana J. and Anna S. Organization of the
event started already in March, when the organizing team
gathered together and started to think how to make that
day special. It was decided to attract Bank of Latvia to be
a sponsor of this event. The bank was very generous by
providing collectable coins to the winners of the
competition. The competition consisted of 2 parts:
assignments’ part and tests. In the first part, SSE Riga
team was leading. Nevertheless, in the second part,
Ventspils University College collected most points. Thus,
the competition for the organizers turned to be even
more exciting trying to find out the winner. After the final
point counting only with a couple points lead SSE Riga
team took the first place. Congratulations to the winning
team: Deniss Aksjonovs, Natalja Avramenko, Aleksandrs
Iļkuns and Viktorija Rudzīte! This victory for SSE Riga
means that next year students of SSE Riga will have to
organize this event one more time.
Eku Drudzis 2007 organizing team is grateful to BoL,
3Dart, and SA for supporting the event and is looking
forward to the next year organizing team, wishing them to
have a lot of innovative ideas, promote Eku Drudzis across
Latvia and gain recognition among Latvian universities.
4|INSIDER June 2007
Riga Marathon
by Eglė
In the very morning of 20th May 2007, a group of active and smiley
people gathered at the school. Although it was Sunday, they stuck their
numbers in the front and together went to Arena Riga. That was the
start and the finish of their running trip. The majority participated for
the first time while two of them were experienced and for the second
time taking part in such a huge event. Yes, you would have never
guessed it – on that hot Sunday morning SSE Riga team „Sexy Sporty
Economists” participated in Nordea Riga Marathon. Eriks Lededoks ran
the longest distance, while Jekaterina Petrova and her sister took the
half-marathon. The other ten team members – Kristjan Loorits, Linas
Liktorius, Ignas Vaitkunskas, Aleksejs Krecetovs, Aleksandrs Popovics,
Harlis Velk, Egle Saltinyte, Anastasija Zukova, Ivar Merilo and Anni
Viskus – chose the mini-marathon distance. Everyone ran successfully,
got some diplomas or medals, and could enjoy the concert near Arena
Riga. „Sexy Sporty Economists” represented three nationalities and
managed to be the most international team. As it was quite different, a
picture in the newspaper „Diena” appeared the next day and SSE Riga
got some promotion for free. Thus, we would like to encourage more
people to join the team next year. The weather is wonderful so start
training today.
Graduation
Dear Class of 2007,
When you entered SSE Riga close to three years ago and we met for the first time in
Soros, I quoted the words (by Malcolm Forbes) on the flower-pot that was a gift
from the class of 2004:
The purpose of education is to replace an empty mind with an open one”
Hence after three years at SSE Riga, your mind should be an open one. Having had
the opportunity to observe your personal development throughout your years at
SSE Riga, I am convinced that your mind is really an open one, and I do hope that it
will remain so. Be it private or professional decisions your open mind will always be
there to assist you as long as you nurture it with some education once in a while –
so welcome back to SSE Riga!
On behalf of everyone at SSE Riga, I wish you and your open mind good luck in your
future endeavours.
Anders Paalzow
To Class 2007
In the reference letters that I will be producing for you in the future, in the first
paragraph I will write: Name, Surname graduated with a Bachelor of Science degree
in Economics and Business from the Stockholm School of Economics in Riga (SSE
Riga) in June, 2007; s/he studied in a class of 115 students who were selected from
1056 applicants from Estonia, Latvia and Lithuania. I will be writing in the past
tense referring to the past experience, however, in a way it is somewhat unfair,
because I know that you are all set to pursue the next great discovery. Wherever
you are and whatever you do in your pursuit of discovery, let us know how things
work out for you in the big world outside SSE Riga. Good luck!
Yours,
Diana
Dear Graduates,
We know that your study years in SSE Riga were a lot of fun and you will always
remember them with a smile on your face. Don't forget that you can always give
something back to the school (or the Student Association ). But forget about it now
– enjoy life, you deserve it! The world is yours!
Marius & Arvis
2007 June INSIDER|5
Excellence
Emil
Numminen & Mattias Nordqvist
by Boriss Kuzmins & Aleksandrs Popovic
At the end of May many SSE Riganians probably noticed two fresh faces at school. No, they are
not another couple of MBA’s in the canteen nor special guests who adore occupying the lobby
to hold banquets. These two guys are our new lecturers who teach Year 2 students. According
to the long-lasting tradition, the Insider publishes interviews with them so that students could
find out what personalities are hidden behind the names Emil Numminen and Mattias
Nordqvist.
At the end of each interview we had a small association game. We named a word and Mattias and Emil had to say whatever
association popped up in their mind.
Mattias Nordqvist
Lecturer in Strategy
Tell us about your career.
I decided to become a high school teacher
and I had studied classic literature for a
year. However, this turned out to be no
fun. Therefore, I switched to business
studies at Jönköping International
Business School and got my degree in
Economics and Business Administration. I
l i ke d wo r k i n g i n t h e u n i ve rs i t y
atmosphere. Hence, when the professor
proposed writing a PhD, I agreed and
started to teach at the same time. I have
travelled to a lot to different countries to
present my research.
Then, I turned to consulting and provided
executive education in the field of strategy and family business in
Sweden and Europe. I was proposed to become an assistant
professor and researcher at Jönköping. For now, I have accepted
this offer and I am planning to spend a few more years in academic
sphere. After that I will do something else.
Why did you decide to come to teach here, in Latvia?
Well, the reason was that the person who was in charge last year
could not do the course now. Therefore, I was asked to come
instead of him. In fact, I like to come here. Your school is a very nice
place with very good students. I like teaching here as much as back
in Sweden.
6|INSIDER June 2007
Can you mention a funny case while you were teaching?
It is always fun when you teach. You never know what will
happen. Often students ask good and tricky questions.
Unfortunately, I can’t come up with one right now…
Sometimes I get questions I do not know how to answer.
Usually in such case I say, “O.K. I don’t know but you seem to
know better so tell us about this.” If a question is about the
content of the lecture, I look that up for the next lecture.
Do you have some funny memories from your childhood?
Hmm… I was a middle child. I remember very well the fights
with my elder brother and younger sister… (smiles)
Can you say something about your family?
I have a wife and no children so far. However, I like children
very much.
What would be or better, what was your ideal honeymoon?
Well, the ideal one could be in South America. Anyway, me and my
wife had a good time in Switzerland.
What about your hobbies?
Unfortunately, I have not much time – I do a
lot of research. I like running in Jönköping. I
also read much and prefer classical novels; I
have read much of Russian classical books
by the authors like Dostoevsky, Tolstoy,
Turgenev, and Chekhov. Can you advise me
of some Latvian? Then, I travel much
privately and with my wife. I try to ski every
winter.
Do you play video games?
No.
What kind of music and movies do you
prefer?
I like alternative pop, rock, Swedish artists,
also solo artists.
As for the movies, I prefer alternative style as well – European,
independent American movies, not blockbusters. Unfortunately, I
have not seen Baltic or Russian movies.
I also like using books and movies when teaching. For example,
there is a movie called the “Inheritance.” It takes place in the
family business context. Usually, afterwards we have with
students a 5-10-minutes-long case discussion around the movie.
How do you spend your Friday or Saturday nights?
Friday nights I stay at home with my wife. Usually we have a glass
of drink and we cook some food. Saturday nights we go out in a bar
or meet our friends.
Excellence
Emil Numminen
Lecturer in Economics of
Networks
Tell us about your career.
I have not gone up too far on the ladder
yet. I took my Bachelor in Finance at
Blekinge Institute of Technology, then my
Master at the same place. I have lectured
for 2 years and have started with my PhD
“Investment Assessment for an ICT
Investment”. I am writing about how to
find the yield for investment using the real
option technique.
Why did you decide to come to teach
here, in Latvia?
My supervisor taught in Latvia a couple of
years ago. He was asked by Diana to come back but did not have
enough time. So, she asked me and I agreed as the supervisor had
always been speaking good things about the school. So far, I have
not been disappointed. The school and facilities are very nice. I
like the city, which reminds me of Helsinki – one of my favorite
cities. You have friendly people here and excellent food.
Can you mention a funny case while you were teaching?
Well, I have one. I was introducing real options as a strategy basing
on the article by Leuhrman. There is a metaphor for introducing
options strategy as a garden of tomatoes where you have to
decide which tomatoes to pick and which not to pick before
squirrels eat tomatoes. A student mentioned that squirrels do not
eat tomatoes. I said I can’t do anything about it. Maybe I should
have written to Leuhrman and said that squirrels actually do not
eat tomatoes?
Do you have some funny memories from your childhood?
It was a sailing experience, probably. We were sailing together
with my father. There was a bridge from mainland to the island.
When the bridge was 2 miles ahead, I said we wouldn’t fit under it,
but we did. Since that time I learned that things are not exactly
what they seem to be. Maybe it’s not so interesting but it’s the first
thing that came to my mind.
Can you say something about your family?
I am not married but I have had a fiancée for 10 years. We engaged
2 years ago and we will get married some day. We have no children
and we have not talked about them yet. There is no room in our life
for children right now. We have a dog (Irish Soft-Coated Wheaten
terrier); my fiancée has 3 horses, so there are pretty much thing to
do anyway.
What would be your ideal honeymoon?
I have already imagined an ideal way of getting married. Now, it’s
ideal honeymoon… Well, there are two versions. It’s either going
on a cruise in the Caribbean, getting married by the captain on the
deck, sunset and so on. Or, going to Kenya and visiting mountain
gorillas in Rwanda. That would be really nice… (smiles)
What about your hobbies?
I have a big passion – walking long walks with my dog (hope my
fiancée won’t hear it). I like mountain biking in the forest for hours;
the rainier it is the better.
Do you play video computer games?
I used to play a lot, I really got stuck. There were hours and hours
pumped in. From time to time I return to a particular game about
skateboarding. I can kill a couple of
hours easily; it’s not a problem
whatsoever. I think it’s a nice way of
relaxing. Still, I do not play much
anymore as it is so time-consuming.
What kind of music and movies do
you prefer?
American college music, college rock,
punk music. Opera and Gregorian are
also nice, but my fiancée can’t stand
them. So, I listen to them when she’s
not at home.
Movies… I prefer documentaries as it
is fascinating to follow a person’s life
or a particular happening in history. I
as everyone else enjoy a good action
movie.
How do you spend your Friday or Saturday nights?
Probably, it will be a boring answer. Usually I am pretty exhausted
because of the long week. So, we have a good meal and a glass of
wine with my fiancée, and then it’s falling asleep on the sofa. We
are visiting friends as well, if I am not mountain biking of course.
Thank you!
2007 June INSIDER|7
by Karolis Ramoška
A
s the summer finally arrived to the tiny Baltic States and the column of every thermometer jumped past 30 degrees, the
nature once again started calling to the very soul of every student at SSE Riga (well, some of them anyway…). Having this in
mind, the fittest and the bravest students (this might explain why not a single Y2 was around) set off on a challenging two
day kayak trip in northern Lithuania. The prospect of such exciting journey was so strong that it influenced not only the present SSE
Riga community but also tempted two of our older colleagues from last years' graduating class and a single delegate from Vilnius
University to join in for some fun.
The fun, of course is never limited to the
trip needs a few key elements to be
graduates who strongly believe that
journey itself and even the road to our
successful. Location is certainly
getting you wet is the sole purpose of
starting point proved to be rather
something that springs to mind first and
kayaking (as a punishment for which they
entertaining. Traveling on second-grade
we had it all covered. Meeting up in the
had to complete a part of the journey with
roads at 150km/h, performing overtaking
only district in Lithuania that has the
only one paddle), and other
maneuvers so daring that every single
capacity (although, not the willingness)
inconveniences. Those who do know how
passenger seat in the car was soon
needed to lay radioactive waste over
to relax (mainly Y3, to be fair), were quick
soaking in cold sweat, stopping at the
much of northern Europe is an exciting
to join the kayaks together, open the cans
side of the road to consume an
prospect by itself. However, having
of cider or bear, and light up some
occasional cigarette and play a variation
realized that messing around the Ignalina
cigarettes (so much for that healthy
of baseball where road signs are used
Nuclear Power Plant would be fairly
lifestyle and clean air) or even very very
instead of a bat all were a great source of
difficult due to the military-grade
special tobacco brought from a land far far
fun. Not to mention an (almost) too close
security installed there, the river of
away. Of course, in order to fully enjoy the
acquaintance with the rear bumper of an
Zeimena was chosen as a more suitable
benefits of such delightful treat, one would
expensive looking Audi A8 that had every
location for the trip.
have to use something more sophisticated
single passenger and driver griping the
than a simple self made roll-up and that
seatbelts.
The trip itself is worth mentioning as well,
was the reason why some of the students
so one would have to start with
brought with them a… water-pipe… to a
As for the rowing itself, every top-notch
specifying the great distance of 25km
kayak trip… whoever said we were leaving
that we were determined to
civilization behind?
travel... in two days. The short
distance could easily be
Well, with the relaxing trip, clean air,
depicted by strong and
healthy lifestyle and nature somewhat
dangerous currents, many
gone, the main thing to look forward to
gigantic obstacles and other
was the entertaining and pleasant
lies. However, one has to
overnight in the woods after a hard day of
realize that the purpose of the
work. And this is where the SSE Riga crew
trip was not to beat a world
did not disappoint. Within a couple of
record or two (as a certain Y1
minutes ater landing, the fire was ready,
person thought), but to relax,
the water-pipe was burning yet again, and
enjoy the nature, clean air,
the tents were set up. After some optional
friendly company and
activities such as football (which ended
wonderful summer nights. In
with the sole Latvian in our crew literally
that sense, it was a success...
kissing the tree) the darkness set upon and
sort of.
everyone settled around the fire to
peacefully enjoy a good company. Except
The first part, relaxing, is good.
for one lost soul. The above-mentioned
Relaxing is not complicated. It
tree-kisser (Y4) wandered around the
even becomes very easy once
camp desperately searching for something
you learn to ignore certain
that would have at least forty degrees (not
people who seem to always
sure if he was talking about the
want to be first, certain
temperature or…), chasing the girls around
8|INSIDER June 2007
Activities
shashlyki. Soon after even the energetic Latvian had settled
down, the entire party went to sleep to terribly overcrowded
tents with only billions of mosquitoes remaining to feast upon
our sleeping bodies. In the total silence you could only hear
someone's quiet voice whispering “I'm cold, put your arms
around me” (not surprisingly for SSE Rigans, it was one of those
man-to-man conversations instead of what others would
expect).
After a good and short night's sleep, everyone was very quick to
get ready for the second day (which means they got ready in
less than 4 hours). Except for Vilius (Y3), of course, who got
ready so fast that he left alone before anyone else had gotten
up. This put a slightly worried smile on the face of our president,
who had suddenly found himself facing a prospect of walking
for the rest of the journey. Fortunately for him, Vilius turned up
a few hours later and we all set off for the last few kilometers.
Sadly, not everyone was very excited by this and two Y3 guys
even managed to fall asleep before they reached the finishing
point.
After finally getting back to civilization, the first logical thing to
do was to go and get some normal food (there is a limit of how
much half-ready shashlyki you can eat), some beer and talk
about the previous few days as well as the grim prospects of
going back to work or studies the next day…
2007 June INSIDER|9
Graduate
There are some common things between love and SSE Riga:
you start both of them believing it is its special spirit and not
finance what should matter and you are sure you have made
the best choice possible out of all the endless options; after
some time you realize it is taking more and more of your time
and you begin to hate that but can do nothing about it; in the
middle of it you start realizing it is getting boring, till after 3
years it is other and your best friend keeps telling you that it is
not the end, just a beginning of a new stage in your life.
Just as in all the previous years, in 2007 over one hundred of
year 3 students are forced to feel the sorrow when saying
goodbye to the beloved academic institution, filled with all the
good, bad, and surely deep emotions experienced during all the
three years. Such time is enough to get to know better your
friends, enemies, Lithuanians and most importantly the school
itself. Actually, three years make one the best expert competent
enough to answer all the myths
and rumors lingering in the air of
SSE Riga. Being part of this already
dying Year3 2007 generation, I
would like to uncover all the truth
behind the most prominent
secrets of SSE Riga.
Myth #1: Study hard, party
hard.
This is the myth we get to
know long time before entering
the building in Strelnieku iela. The
slogan is broadly used in
promotional campaigns with the
aim to attract more fresh minds to
SSER. In the first year of studies,
which is filled with the brightest and biggest impressions, the
slogan seems to be saying the truth (especially during the
course of statistics). However, in later years very often a student
is feeling standing in between of the dilemma “Study hard,
party later” and “Party hard, re-exam even harder”. In such a
case, the choice depends on your strong will, motivation, and in
some cases on the nationality.
Myth #2: Finance changes your life and your soul.
Everybody has heard it, especially in the beginning of the
finance course. Finance is thought to be the subject that can
radically change everything in just 10 weeks. From my own
experience, finance for sure seems to be ruining every minute
of your personal life during those 10 weeks: you forget your
family, you forget your girlfriend or forget that you want one,
you gain weight but still want to eat more because of believe it
will help to memorize Black and Sholes, your daily routine
becomes perfectly optimized between the school where you
study, shop where you buy food to be able to study, and home,
where you study again. And the worst thing is that at the end
you start enjoying it. However, after the 10 weeks of hell, and 20
more weeks of depression and state of psychological recovery
you still are the same guy still willing to play basketball,
unwilling to get up early in the morning and still a guy who likes
girls (except if you are Vilius). So finance shows how you can
10|INSIDER June 2007
live, but definitely not how you should, or how you will live. And if 10
weeks have inspired a great passion for the subject, don't be too
optimistic – first 3 months of work in the field of finance sometimes
can easily kill that passion.
Myth #3: If you pass finance, you can consider yourself as a
successful graduate already.
Another mystery around the 10 weeks of no-life time. If you want
to get this myth disproved, just look at the statistics, how many poor
year three students did not manage to end the school because of
more terrestrial reasons than The Course. It would be more
appropriate to say that if after finance you had enough motivation to
successfully finish Y2, most likely you will have enough steam to end
your academic journey on time. But only most likely.
Myth #4: If you want an endless party, go to exchange.
Many of the SSE Riga brainiacs devote extensive time to
extracurricular activities only because of one hope that they will be
allowed to go to the exchange in
the last year of studies. But just as
for any widely desired object, if
everybody wants it, it doesn't
mean you should go for it.
Sometimes it might happen so,
that instead of constant partying
with the most beautiful girls and
handsome boys on the beach of
Mediterranean, you will find
yourself wasting your time and
rapidly becoming a chauvinist
while surrounded with lazy
individuals not knowing any other
means to have a good time except
for excessive drinking and
throwing up in the streets. Of course, you might find yourself in such
a situation without going to exchange too. However, in my opinion, if
you don't know for sure where you want to spend your third year of
studies, consider choosing a well tested alternative – stay in Riga. If
you consider going to exchange to Liege, stay in Riga for sure (a
subjective suggestion).
Myth #5: Arrogance is the key point creating SSE Riga image.
It is not arrogance which creates school's image. It is us. Though in
many cases a student of SSER should be proud of the results which
are possible to achieve after 2 netto hours of studying, in many cases
a true SSER student feels somebody better than others just because
he's a part of the club. However, being a part of something won't
make you a Somebody. And one does not need to spend 3 years to be
able to do “bling-bling” in front of his friends – it is enough to buy a
ring.
To sum up, we hear many stories about our school, however,
instead of relying on them, we should all try to make those 3 years of
our life another chronicle people won't forget. Year 3 students have
already finished their own, not it is up to you to evaluate, try to
follow, or try to avoid it.
Sincerely,
A member of dying poets' society, Mykantas, a.k.a. Levi I Tolsti.
Activities
by the Player
This article is about the table football. The one we have in our lobby. The one many of us enjoy
during breaks, after lectures and in late evenings. It is about its past, present and future.
Many of you probably remember the older table football which
was in the lobby for one or two months before Christmas. Some
liked it so much that they even played it without a few bars until it
was completely broken. No surprise – it was a pretty low quality
table, which was bought just as a temporary entertainment for
one party by the previous SA. Where is it now? Probably in some
dump.
Months were passing by, and the new SA decided to buy a new,
high-quality table football. It was introduced during the Days of
Opportunities – Takeover party on April 13th, and stayed in the
lobby until now. However, the story does not end so easily. The SA
was so keen on giving such entertainment to
studen
ts that they even forgot to ask the opinion of
the school administration about it. Hence,
there is no surprise that problems arose.
The administration stated that this new
equipment creates bad image of the
school, especially when it is visited by
some important guests. It was proposed
to move the table out of the lobby.
Somewhere. Anywhere. Maybe to
accompany the old table in the dump?
As a response, the SA carried out an
internet survey among students asking
whether they would like the table
football to stay in the lobby, or
somewhere else in the school. The
Insider got the results of the survey,
which were the following: 94 students
voted, out of which 70 (or 74.5%) wanted
the table football to stay, 16 (or 17%)
supported the idea of taking the table
away and 8 (or 8.5%) didn’t care. Below
you can read some of the best comments
from the students regarding this issue,
gathered during the poll. The author of the
article
takes no responsibility for the content of the comments, and
notes that they are completely anonymous:
I think that table football creates better image than a crowd
of smokers in the yard.
It really does create bad image for our school, which is already
spoiled by such "inventions" of current Y1 like cheerleaders
team. It used to be different :(
I think that table football is the only sunshine in SSE Riga
where the administration takes care that we are overloaded
with studies… <…> Besides, shadows who came to our school
were so happy to see it and for them it was like a proof that
SSE Riga is not just some boring place where you have to study
all the time.
I think the problem is not the table football itself, but rather
the way it is being used. Many companies have football tables
and similar things in their social areas, so it is generally
acceptable. People should get used to playing it without
excessive emotion and/or noise, as this may disturb others.
Concerning myself, I started to smoke less due to spending
more time playing - obvious benefit.
The administration removed 4th floor study places and the
rest room, one of the computer labs, made
limitation to study and use laptops in
the table zone of the cafeteria during
lunch time, etc. One more step
towards getting out students from
second home.
The football table even improves the
image of the school. In particular it
shows that this school is far ahead of
other universities with regards to
keeping in touch with students as
well as that the school pays
attention to what they do.
It is really disturbing when you
study in the lobby.
I hate the noise it creates during
the breaks, it is imposible to
concentrate on anything!!!
Students who play can create bad image, but… our students
are so ethical that they have not done it and certainly will not
do it :)
Let's wear suits and play football.
A lot of different opinions can be seen. However, one thing is
clear – students like the table football, only a better place should
be found for it. Futhermore, the students could play it no so
loudly. Still, where should it be put? So far, it has been decided to
keep it in the lobby until the end of the study year, but no one
knows what will happen with it the next year. Let’s wait and see…
By the way, while waiting, a table football tournament has been
organized, to which 20 single players and 15 teams applied.
Congratulations to the winners, which are most probably already
known at the time you, are reading this article.
2007 June
May INSIDER|11
Gossips
They say GG's "Newcomer's guide
to SEX" MUST be send to the next
year1 before they arrive.
decide to finish the guest lecture
being not the lecturer. Well, not for
Denis.
They say Ieva(y1) deleted a lot of
people from draugiem.lv after
seeing the last Insider. How sad we
say.=)))
They say that he wants now to be
called THE DENNIS.
They say that Edgars Gravis is the
best singer in the school and only
lucky ones get to see him
performing.
They say table football makes
people free riders.
They say Lloyd Banks warmed up
dmitro globnichiy in his concert in
Riga. aigh 8)
They say that recently there has
appeared a person who makes all
the Lithuanians ashamed and
embarrassed.
They say be careful! Arturs Č. has
been working for Italian mafia since
winter. Bang! Bang!
They say that Jenny's life’s motto is:
if you can't be pretty, you can at
least be b*tchy!
They say that Linas (Y2) persuaded
Lucia to cancel the lecture in order
to be able to celebrate the last day
of spring and first night of summer.
They say that when Lucia Naldi
suddenly screams "she", you have
to reconsider your opinion about
women.
They say Olga K is the most
acrobatic cheerleader! So boys,
don’t miss the opportunity!
They say LT students are so tolerant
- that's why they are sitting in the
first row during Marketing. So
sweet! =)
They say that the SSE Riga must
change its name to The Banquet
School of Economics.
It is not commonly accepted to
12|INSIDER June 2007
They say that sleeping pills industry
has been suffering losses since
Jurgita has been allowed to teach.
They say that Aleksandrs T. (Y2) is a
prophet. During the Strategy
course he claimed to manage
different scenarios for his future.
They say that Emil sees Swedish
squirrels eating tomatoes.
They say that Ignas (Y2) has been
attacked by crazy employers.
They say that during Economics of
Networks lectures one can see
what it means for a tie to STAND!
They say that one of Ganu flats is so
f***ing arrogant that nobody can
overcome them.
They say that the reason why Y2
lectures takes place in W32, while
the Soros auditorium is empty, is
the administration's expectations
that Y2 won't attend the lectures.
They say that after “studying hard”
during macro and MAF, Y1 get to
“sleep hard” during marketing.
They say Jurgita cannot understand
why the students look so bored
during her lectures. Is she so
boring? Or have they been reading
the new Bible – marketing 14th
edition and are therefore tired?
They say that after successfully
finishing micro & macro some Y1
girls decided to visit some underdeveloped countries (i.e. Turkey
etc.) just to share their knowledge
and improve their economy.
They say Jurgita believes that
having a PhD in finance &
marketing makes her “The God”
and gives a chance to try to control
every single Y1 student.
They say that Jurgita has achieved a
new stage in blondology. She
sincerely believes that being a
blond Lithuanian married to a
Swede is enough to teach
marketing.
They say that eating ice-cream
during lectures really helps to grow
BIG eggs.
They say that next year every
professor of SSE will have to get a
“approved by Deniss Aksjonovs”
stamp on their preliminary
schedule in order to start the
course.
They say that if you get really bored
during marketing lectures, just
start singing. Because if she will
notice you’re bored … she will
make you sing.
They say that someone has come
up with an idea to establish "Gossip
radio" in SSER.
They say that you learn more when
you are in lectures. Especially, if you
sign up.
They say that someone had a hard
childhood with the wooden toys
nailed to the floor and a bad
father... You can guess what I mean.
T h ey s ay t h at s h e i s ve r y
professional in incorporating the
"shhh" sound in her speech
They say everyone in Lithuania has
small eggs. That’s why Marius R
wants to have them BIG.
They say that there is still some
hope that there are some people,
most likely in the first row, that are
studying marketing.
They say that she was in US.
They say that when sending a
personal “thank you” letter you
They say that four sign up sheets
are not enough.
They say that even the internet
connection used to fall asleep
during the marketing lectures.
They say that soon all SSERiganians
will be fluent in German. Thanks to
German Viagra spam!
Jurgita (Marketing lecturer) says
that on average American drugdealers earn below the minimum
wage level, meaning that they work
only because are patriots of their
profession.
They say that Jevgeni B (Y1) likes
tits “at a level”
They say that SSE Riga cheerleaders
are becoming more and more
popular also among other
universities' sports' teams, which is
mainly due to Anta's persistence
and charming personality! :)
They say the Insider web page is in
an Estonian server, because the
Editorial team photos are sloooow
to change online.
They say Dima G. is the...
khm...ambassador of Janis M (both
Y1).
They say that Baltrusaityte-Axelson
only knows examples from the
book, so in case of doubt she just
leaves the auditorium.
They say that someone at SSE is
REALLY envious of Alina's (Y2)
looks.
Jurgita will soon force year1 to have
diaries like at school to put marks
and reproofs! And maybe there
should be parents meetings as
well?!
They say Peak Time participants
were sooo cute that they broke
several hearts of SSE girls =(
Peak Time party was FANTASTIC
just because Katrin was NOT
organizing it!
They say that Macro and Micro
theory, which claims that supply
meets demand, works in reality,
because otherwise there would
not be so many spam with "extend
your..." or with "it will last forever"
letters in SSE Riga mailboxes!
They say that despite the neverending striptease in elections
campaign for party com, it is no
longer the sexiest title at SSE. The
sexiest one starts with C!
They say that Aleksandrs Cjornijs
(Y3) is world champion in kickboxing.
They say that Olga and Shishka
zanimalis peak timeom.
They say that Olga neznajet kak
otkrivatj excel :)
They say there are 2 witches on the
second row in Soros that write all
the gossips.
spent in the USA has a bad
influence on the health.
They say that marketing lectures
are mandatory because there is no
other way to force students to
come to lectures as they are so, so
boring.
They say that Hitler was
resurrected this year and came
here to teach marketing in Y1. Now
they all feel like small Jews in the
marketing ghetto.
They say SSER students stopped
shopping in Mols.
They say Ganu19 has now THE
blond,thus, it is getting even hotter
there.Everyone now waiting for
massive Party, that will really bring
their glory back!
They say “shut the f*ck up”.
They say that having a double
Lithuanian
-Swedish
Eyes were concealed
surname
to protect the innocent. And the guilty.
doesn’t
make you
cool, or
smart.
Now all Y1
knows
that 12
y e a r s
The Insider T-shirt goes
to Svetlana Jefimova
just include her in CC or BCC.
2007 June INSIDER|13
by Ignas Vaitkunskas
:Confessions
Intro
It all began last year right after the
summer when we started our first
meetings and discussions about how to
make Peak Time bigger, better, sexier,
more interesting and more exciting.
After last year's organizers announced
the election results in one Riga club
(those who were there know how fun it
was) in June of 2006, some people were
saying we were in deep sh*t. Actually,
they were partly right - during this one
year of organizing Peak Time there were
such cases of deep sh*t. But on the
were, with costs already above what we could handle even if we
other hand it is damn amazing when
reach last years budget (8.000 LVL) and important sponsors
together with the team you knock these sh*tty issues and get
were gone as well. Pretty fun!
that relaxing feeling in your stomach and the smile of success
suddenly appears on your face. Ahhh…. It's just like after closing
I remember those days very well.
ceremony when everything has
We were all crazy about calling
happened you sit with cool people in
sponsors and were ringing the
SA room and make some crazy jokes, “We don't know what “the worst
phone in business lab on 3rd floor
play with the siren and enjoy free
non-stop. We NEEDED sponsors
beverages of whatever the taste and experience” means at all. And almost
badly. After hearing numerous “no,
kind that you like. They are all yours. everything we did here was the best
thank you” and even getting pissed
No one said we will do it for free, haha!
experience.” The Chem!cal Brothers
about b*tchy marketing director of
Anyway… let's get to the story.
one Lithuanian beverages
company, hard work finally paid off
The rollercoaster
and we got the good news. I remember calling Parex bank
adviser to the president and telling her about Peak Time. To my
Before fun like that, much stuff had to be done. We had
surprise she somehow already knew about our event. Her voice
meetings every week, constant brainstorming since the start of
seemed to carry good news and I was getting excited. They said
Y2. Actually, it was particularly fun during the first months. Soon
they had the meeting in the board of directors and that they
we found out that Albert Hotel will require double the expenses
decided ... I could barely breathe … to be PLATINUM SPONSOR!!
that Peak Time had last year. Right now we know that in the end
… I was speechless!… Happy!… Ahhhhhh… :) It means we got
the Hotel charged us even more than that, but, believe me, it
65% of last year's budget with one company only. But the story
was fun anyway when two of last years main sponsors – SEB and
just began. I quickly sent an email to Peak Timers with many !'s
Microsoft – refused to sponsor again and, for some reason, did
and :)'s and I was curious to find out who from our team
not even wanted to discuss this opportunity more. So there we
contacted Parex bank since we did not talk about contacting
this bank in the meeting. Our Latvian
members Arturs and Ilze did not, while
Indre and Kristiina did not do that as well.
I was waiting for the answer from Marija.
For some reason she did not reply for
several hours and did not answer calls
either. A thought came to my mind that
maybe Parex meant sponsoring Days of
Opportunities… Cold rush went through
my body - I remembered conversation
with DoO organizers that Parex might
sponsor them. The cold feeling became
even stronger. Actually it was quite hard
to concentrate on anything and when in
the evening I finally got SMS from Marija
that she did NOT contact Parex… To put it
bluntly, it was DEEP SH*T!
So here we were on the rollercoaster that
14|INSIDER June 2007
Peak Time
We did it. Platinum. 65%. 5000. !!!!. #$%@. :)))). Believe me,
that felt verrry nice after such a “trip”. We found out that no one
knew, even Marija, how Parex got to know about Peak Time, but
that did not matter. We were finally rich. I would like to say big
“THANK YOU” to the person who forwarded the email to Parex
on behalf of our organizers. We love you! : )
More fun was yet to come. After several weeks we finally had
Well, people here are very good looking,
especially the organizers. It's wondering
how all guys in Riga keep such a good
shape. Do they exercise a lot? Girls’
team from Taiwan
just reached amazing heights and now was not only going
down, but was pretty unstable at all. As if the connectors that
stick it to the railroad are releasing and you begin to simply fly...
down. That's when it gets fun, believe me!! Really fun. I
remember the faces of the team when we met next day after
such rollercoaster. They were looking… actually, a word “bad”
would underestimate those looks. The crazy thing was no one
knew whether Parex will sponsor us or DoO. DoO organizers
were not contacted as well. But they were quite happy. Since we
did not contact Parex while DoO did, there was little hope we'd
get the funds. And even crazier thing was that, after one day,
there finally was the answer. I remember thousand of !'s in
Marija's email after number “5000LVL”. She was contacted by
Parex and they decided to sponsor US!!!
Peak Timers strike back!
some more answers – we got KPMG and Zabolis. We still were
only about as rich as last years budget and were short of funds
to cover hotel expenses. I remember the meeting we had with
Albert Hotel sales manager. She was very reluctant to talk about
lower prices and explained that May is the first month of hotel
summer season and that is why the price went up (last year PT
took place April 28-30th). That did not make us feel better. Even
with Parex we cannot have so big pie. We had work to do!
This time another girl from our nice team hit it off. Peak Time
never had substantial sponsorship from Lithuanian countries.
They were not getting the huge 85% discount that Latvian
companies get. However, there is nothing impossible when we
have 4 girls on the team. At some point that week Indre sent an
email with much “!!!!” in the subject... And guess what? I could
not stop jumping in the air and laughing – Lithuanian Bite
agreed to give us 5000 LVL as well. Hotel issue
was now just a joke. We were already twice the
last years budget. Filthy Rich. Don't mess with
Peak Time!!
Do you know who the highest paid women in
SSE Riga are? Let me shortly introduce you to
them. Long after Parex and Bite roller coasters
we still wanted more funds to be able to really
inject some cool stuff to the event. So one nice
spring morning Kristiina and Ilze dressed up
very nice (I did not see them, but I bet they used
it, did you? :) ) and went to Lindorff. They had
meeting for 10 minutes and got 1500 LVL
resulting 150 LVL per minute income. Being
9000 LVL per hour that is probably 100 times
more than the partners of richest investment
banks in Baltics. I remember teasing them why
they did not stay longer…
Peak Promotion
After sponsors were in the place, promotion
campaign had to come. We wanted to make
Peak Time global. Besides marketing in Europe,
we made promotional teams of Y1 students
2007 June INSIDER|15
Peak Time
directed at about 10+ countries: USA, China, India, Japan, South
Korea, RSA, Brazil, Turkey and some others. What we found out
is that emails suck at promoting. Even though hundreds of
emails were sent, we got several applications only from three of
the countries. But we were pretty lucky anyway and,
surprisingly, got cool countries which we did not target:
Kazakhstan, Armenia, Georgia, Taiwan, Singapore, Brazil and
Costa Rica. Actually the Singaporeans were contacted only 3
days before the deadline, but that's another story. In general it
was quite fun to have Finance at the same time as it incentivized
to deal with emails in seconds and was serving as an “alarm” not
to oversleep all February.
nice beginning! Since champagne had to be ready by 1 p.m. that
day I found myself on the way back from beverages distributor
just in time with the drinks and for the opening ceremony. It was
quite fun to make a speech during opening ceremony and put
on the Peak Time T-Shirt, but if you know the saying “good
beginning is half the work” it was the reverse in my case : ) Those
who saw know why. Anyway, during the day participants,
compadres and everyone were able to enjoy guest lectures, get
to know themselves in icebreaking and chill out. Kristiina was
responsible for icebreaking and the whole thing went out pretty
good – participants were regrouped and had to pass several
checkpoints around Riga old town. Some of the tasks were to
buy Latvian chocolate, learn Latvian words (guess which ones)
and count in how many places you can buy beer. I bet some of
Peak Time 2007
the participants used the latter observation later in the evening.
That night we went to Belarussian hotel room. One of them
9 months have passed. Peak Time is about happen in several
passed
out from vodka and we remember putting bottles
days. Pressure! Deadlines! Thrill! Run! Call! Arrange! Oh, it was
around
him
and then taking a picture of him while holding his
pretty challenging. On the way to Peak we even contacted
passport
next
to his face. Evil! Actually about that time when
Latvian minister of foreign affairs who arranged Indonesian visa
the
guy
passed
out we decided to go to the hotel lobby and on
for us with no hassle. Thank you, Mr. Artis! Meanwhile, we
our way we met hotel administrator who
would not say thank you to airlines. One of
informed
us that there are the most
compadres had to meet Brazilians at
complaints in this hotel on our floor and the
midnight, but since their flight was
“We really like the
cause
is Belarussian room. Upz! Overall, that
cancelled he had to wait all night till 7 a.m.
people
in
Latvia,
but
the
night
was
good warm-up.
till they finally arrived. He looked quite
thing is that we met
sleepy the next day. Another sleepless
The next day was CESIM. We were running
night was threatening Costa Rican
mainly Lithuanians.”
around
fixing laptop wireless problems.
compadres, but luckily we found out about
Wallenberg
administrator made a joke with
Team
from
Costa
Rica
the cancelled flight in time. Due to the
the
login/password
– only one user could be
airlines poor Costa Ricans were not able to
connected
at
once,
while
there were about 25
experience guest lectures and, as they
people
there
under
deadline.
It is so nice to see
wrote in one email, were like “sleeping like
expression
on
their
face
when
you
fix
the
problem (we
Polar bears” in Miami airport since their flight was delayed 24
distributed
f*ckin
32
character
password)
and
see their
hours.
expression when you extend the deadline “Ah… thank you!”. It
was also quite fun when we discovered that CESIM does not
On Peak Time opening day I was woken up at around 8 a.m. by a
work
appropriately with Excel 2007, but the issue got solved
call from a nice lady on behalf of Lithuanian “Alita”, who agreed
and
overall
participants were into CESIM and were enthusiastic
to give us free drinks – ciders, vodka and champagne. What a
about results. Russian team
demonstrated outstanding performance
and dedication. They made a very bad
decision on the very first round and were
2nd worst team. However in only two
next rounds they managed to recover
and become 2nd best team! The next day
they advanced to the semi-finals. That is
team work and focus! In the end of the
three rounds Veijo, the CESIM co-owner,
announced the results and everyone
went to have some fun in the evening.
This time after settling loads of issues
and small things at around midnight I
arrived in Lithuanian hotel room and
they somehow got me to take 150 ml
shot of vodka. I think I did not drink more
that night. We then went to the Iceland
girls' room. May what happened there
stay to those who were there, you know
who you are : ) Anyway, after some time
we went to the city and I remember
16|INSIDER June 2007
Peak Time
listening to Costa Ricans when they told me how they party
Latina style in Costa Rica, what do they do there and the coolest
places in their country. There were quite many people in the
city, it was loud and the next day it was very tough for everyone
to get up early for CESIM. Some teams did not have full squad,
while Spanish guys made decisions from their hotel room.
After two more rounds in CESIM the best teams proved to be
from Germany, Romania, Lithuania, SSERiga/Austria/Sweden,
Norway, Russia and two from Singapore. After semi-finals
everyone had dinner in Caramel Rouge and started preparing
for Peak Time Party: The Casino. Everyone got $ 100 Peak Time
dollars (PT$) and was able to gamble. Some participants won as
much as $ 1500, but overall we found out that casino business is
profitable since the Roulette, Blackjack and Poker tables ended
up with more money than they started with. Peak Time party
rocked the place.
The next day there were finals. They had some nice aspects too.
One of these aspects was that main jury guy, who also was
responsible for developing and bringing the case study was late
for one hour and did not answer phone calls. Imagine all final
What were the best and the worst
experience during your stay?
Best: Party night at SSE!
Worst: Having to compete again right
after the party night!
Tetra Threat from Singapore
“We can not really say if we like Latvia
but we for sure like Riga (so we can
risk an assumption that the whole
country is cool :)”
Team from Poland
teams and jury members consisting of people with PhD's and
regional managers are waiting and looking at you while you
don't even have case and the main jury person is unreachable.
Exciting! Anyway, Mr. Arturs thought the ceremony will begin 2
hours later, but since he was only a bit more than 1 hour late
everything finally started. Ahhh, what a relief! I won't tell you
what we planned to do : ) The finals' presentations were quite
exciting because the finalists were able to modify and prepare
presentations not only during the 1.5h prep-time, but also
during the presentations and they also had time to rebut their
proposal after all teams make the presentations. After tough
case about Zara shops Singaporean team uNeek from National
University Singapore and Singapore Management University
proved to be the best. Second team was JETS Team consisting of
SSE Riga, Austria and Sweden and another Singaporean team
Tetra Threat landed third. Singapore overall took Ä 3500 to their
country impacting Latvian balance of payments pretty badly.
But JETS Team got four expensive Motorola phones from Bite so
it is not so bad after all.
Peak Time fun was not over even after Sunday because quite a
few people stayed in Riga for several more days. On Monday we
went with Singaporeans (uNeek) to the city. The weather was
quite tough and you could see thunderbolts in the sky. One of
the guys asked whether we have typhoons in our country. We
assured him that he is safe. In the city we went to one of Riga
diamonds – Pelmeni. Singaporeans really enjoyed them and
were very happy about food in Riga in general. They later
suggested exporting the food to Singapore. Why not? After
Pelmeni we went to one Y2 Estonian's birthday and they gave
him red vodka that we acquired illegally on the “spot” – Ganu
people know where it is : ) After the party I showed them my flat
and some attributes like Absinthe. They made some photos of it
and recently I saw that photo on one of their blog's with words
like “insane” and “crazy” : )
Overall it was great experience to organize Peak Time and we
will never forget it. We hope you enjoyed reading how it felt
from our side. There is also one last thing we would like to say to
everyone. Believe in yourself and you can make anything
happen! The world will shine for you. You might have found
evidence in the article already, but there is one more case. One
week before Peak Time the weather forecast was terrible. It
forecasted strong showers and thick clouds on all weather
agencies and we were very concerned. Something on what you
worked for nine months might be screwed because of
something you cannot control. Actually, the opposite
happened! During Peak Time it was raining when participants
were inside and stopped when they were outside. Bring it on!
2007 June INSIDER|17
Peak Time
by Žymantas Baušys
The response was quick: “Sure, I would like to be a compadre of the Peak Time team! Singaporean? Even
better!” That's how I got a duty to take care of uNeek team. Later on I realized, that it was probably the best
decision I made in May.
enthralled the jury. The uNeek team achieved the
victory in Peak Time 2007. I was just a little bit less
happy than they were.
There were four of them - intelligent Lewis, funny Jian Hui, active
Adi and pretty Veron. They managed to come to Riga by three
different planes on three different days.
That was a challenge for me
and my colleague Marius.
However, now we know the
way to Riga's airport blindfold.
M ay b e d u e to t h e t i m e
difference or due to very cold
weather (+17º) our new friends
were a little bit reserved at first.
Fortunately, that did not last too
long and we were able to hear
many exciting facts about
Singapore. Even though, they were
a little bit astonished when saw a
couple kissing on the bench, Jian
Hui had no scruples to declare that
oral sex is forbidden in their
country…but some couples still
ignore that! Moreover, all males who
have graduated from
the school and have 18 years must go into the army for two years.
And any note from the doctor or good academic results can not
prevent from that horror.
After some sightseeing days the Peak Time competition started. I
should admit that at first I was not sure about the success of my
supervised team. However, step by step uNeek was heading to the
peak and even before the announcement I was certain that they
will definitely go to the finals. What they did there was amazing!
Fluent team cooperation, perfect quality, honesty and sincerity
18|INSIDER June 2007
However, it wasn't the only good thing that
happened to uNeek here in Riga. All of them
enjoyed Latvian food. They have even taken
photos of all meals that they had! Moreover, they
were impressed by Riga's architecture. It is nice
when skyscrapers do not cover the sun… One day
we took Adi to play basketball with us. He named
it as one of the best experiences in Riga! We also
got an opportunity to realize that basketball in
Singapore really exists. Unfortunately, just Jian
Hui and Lewis managed to participate in preParty
of Peak Time party at Ganu Street. Such events are
difficult to imagine in Singapore. Both guys
claimed that there is no need to go to the Party
when you have a so cool preParty. The strangest
thing that uNeek has experienced in Riga was
endless walking on foot. The distance from
Strelnie
ku to Kalku for them seemed
more than weird.
Seven days passed as quickly as
they could and our new friends
had to leave. The mood of
departure was upraised by
Lewis's and Jian Hui's promise
and wish to come back to
Latvia the next year. Lewis is
thinking about a trip in
December… I hope there will
be a significant global
warming before; otherwise
he will definitely get cold.
All of them used the
chance to expand their
journey and visit some
Western Europe countries
afterwards. By the way, Veron is still
tripping there… They say Asians like Europe!
Appendix 1
The adventure was still not over. After a week in Germany and
France Jian Hui came back to Riga! It seems that he didn't lie when
said that he adores Riga. Much to our regret it was just a one
day/night visit as he had his flight back to Singapore through Riga.
He stayed at our flat in Vesetas street. He was not afraid of our
warnings that we do not have electricity, live on candles and use an
outside toilet. So, we had one more opportunity to hear out some
stories about his army days or Singaporeans students' nightlife…
Opinion article
Englishmen in New York
by a Man
“I’m an alien, I’m a legal alien, I’m an Englishman in New York” –
some years ago a wise man sung such a song. The idea behind it
was quite simple – an Englishman
was suffering as he felt as an
outcast in the USA. It seems that we
have such aliens down there in SSE,
too. And they might be even in a
worse position – they aren’t even
true aliens anymore.
Take graduation, for example. I
remember that during my entrance
interview the only question I asked
was “How about people here?” I
was told the same usual story about
a very close community, good
relations between all students,
students and teachers and so on.
And it is sometimes really so: there
wouldn’t be any PeakTimes,
DoO’es, JeJoues or other events if
this wasn’t true. However, it seems
that these relations are present as
long as each one feels the individual
benefits such as entry in a CV, a
huge party with a lot of food and
alcohol, or an opportunity to have
an internship in a cool place.
Unfortunately, there are not so
many events as “The Little Prince”
whose main point is to give
something for the community, not
for the members individually and
the only benefit artists get is
appraisal by the audience . So, let’s
come back to graduation - the most
important event for Year3 students.
And, probably, it should be a very
important one for everyone in SSE
Riga. However, people are heading
to Lithuania or Estonia as on a usual
weekend, they do not care SO
much. Why should they? Neither
do they know Y3 people so well, nor
are they attracted by “yet another
party”. In other words, there is no gain for them. The
administration is also struggling to find flagmen for this event,
and here even free entry to the banquet and the party does not
help. Probably, it is time to offer some compensation for such
“jobs”? We are a nice community, just sometimes the main link
between us seems to be the advanced toilet paper, which is
only valuable in the short run.
Moreover, we have some aliens landing to teach us, too. The
best recent example is probably Jurgita. She is not from Mars,
and not even from the Moon, she has been living in Lithuania,
and some time in the glorious United States of America.
Unfortunately, she lacks the understanding of the main values and
principles how everything is done here. As we have always been told,
team is the strongest unit in SSE
Riga, and every member is equally
responsible for the result it
produces. However, dear Jurgita
decided to break this rule – Y1 had
to fill in “Peer Evaluation Forms” - to
evaluate every member for every
single aspect of the report. Now
that’s encouragement of team
work! Or take her statements that
each team should send her daily
reports about the job done that day
– in order to assure that we do not
start everything on the last
weekend. It reminds me the good
old times in the kindergarten where
I wasn’t allowed to sleep on the left
side. Maybe the USA students need
such treatment, but, dear Jurgita,
we DON’T. We are responsible for
our actions, especially when we
feel the consequences individually.
Also, we have teeth, and after such
offers as these, we will start nipping
everything you propose. We will
start hating Amazon.com with its
one-shopping-cart system or
individually assembled Dell
Computers, and we won’t care
about You either. That is our clear
stand against aliens who try to
disturb our calm existence.
It would be nice that we would also
care more about some other aliens.
For example, we would not let
drunken guards get away; we would
straightly ask what is of more
importance: normal premises for
student activities or the expansion
of the Business Lab; and finally, we
should not let ourselves become
aliens. The Little Prince will not
remind us every time; we will have to draw a sheep by ourselves – no
outsourcing, no hiring of painters – just pure feelings, which rarely
can be bought for advanced toilet paper. Only then we will be able to
proudly stand at the graduation and be sure that the school not only
let us gain knowledge and contacts, but also gave a lot of emotions
and friends. And only then rumors about SSE as a “fabrik zviozdy” will
disappear, and the stories about close communities won’t have to
skip the fact that there is a lot of close communities in SSE, but
sometimes there isn’t the community of SSE – only a lot of people
who firstly care about themselves.
2007 June INSIDER|19
Opinion article
I WANT TO KNOW
WHAT I DID LAST
SUMMER
I still remember myself being a real-life-unexperienced and afraid
of an outside world Year 1 student last June, going to my first
interviews for the first internship after the first year at SSE Riga...
Looking forward to my first summer as a student. Was I naive
then?:)
something is different from the world described in our textbooks,
isn‘t it?). Add several scarce meetings with your SSER fellows in the
pubs of the city center to have some fun and stories from their
(first?) workplaces and you almost get the entire picture. What
happened afterwards?
I think I wasn‘t. After all, being acquainted with elderly students I
had put my pink sunglasses into the drawer even earlier than the
hot sun and sandy beach wheedled us out of the memorable
lectures of Business Law and other good subjects. I really mean
good by saying that! So, even having a pile of glamorous promises
by various companies to employ me for the summer (collected
during DOO), I
wasn‘t expecting
s o m e t h i n g
spectacular. Being a
little bit lazy myself,
maybe being
another bit unlucky, I
didn‘t make it to the
top, albeit the offer
was comfortable.
Well, through the
pink glasses it might
have seemed slightly
differently. What
h a p p e n e d
afterwards?
After returning back to school, almost none of my coursemates
(probably including myself) mentioned the summer thoughts
aloud, including the fact that they did not adore their internship
placements (oh yes, I admit that some people really loved them,
but let‘s focus on such unstable personalities who didn‘t). And
soon those thoughts, probably generated by overheated brain,
were crushed down
by the carousel of
International
Economics, Finance,
Econometrics and
other stuff, with the
Financial Economics
for the culmination
of the ecstasy. The
pace was pretty too
quick to think about
the future (at least
the nearest) plans,
and now I find
myself standing on
the edge of the
summer again,
without yet a clear
vision, mission and
strategy of my life,
not to mention a
short term plan and
tactics. So much
happened during
this year, but it feels pretty much similar to the early summer of
2006. What have I learned about my wishes throughout this year?
(Except making myself sure that I hate queuing in the canteen,
waiting behind the locked door of the copy center, and watching
how various business labs and bicepses push out students from
their Alma Mater into God knows where). I think the most valuable
experience is not option pricing, stock valuation modeling or
mastering some regression techniques, but understanding that
having missed some train is not such a bad thing after all. Because,
apparently, you have some time to think whether you really want
to travel by train. And if I turn back to the beginning of previous
summer, I know what I did then – I was enjoying a possibility to
miss one more train than I can at the moment at which this article
is being read.
The summer was
neither exceptional
nor very ordinary.
But it was good in
one sense – I had
moments when
thoughts that
returning to the Soros‘ desk was quite a good idea prevailed
strongly! Do not regard me as a science-loving nerd, but I was
longing for some freedom we have there compared to the
business world. You wake up in the morning, and the magic
powers of your brain can be cast on one issue: to get up or not to
get up. When you get up in the morning of your workday, the
immense powers must be attributed to taking yourself out of bed
with no space left to at least a tiny idea of staying where you‘ve
spent your night. There is no freedom of choice, unless you are
employed by your dad (and even then, the dad might be stricter
than the Alma Mater). Anything else in between was like a fasttrack movie: some boring stuff in the internship place, some
arrogance going in the city with a business suit or entering a shiny
office building, some desperate thoughts whether you could do a
job better than your boss does, some questions whether you
would ever like to be in the place of your boss, after all. (Damn,
20|INSIDER June 2007
by an Author
d
n
i
Beh
l
i
e
V
S
the
Dubai has been my dream for over a year. I
can't say why exactly, but I felt Dubai
should be something very luxurious,
relaxing, impressive, heaven-like.
Therefore, it is difficult to express how
delighted I was being on the plane to Dubai
less than two months ago.
Insight Dubai 2007
It all started with a simple ad on the net
about the upcoming conference in Dubai
(thank you Marius Z. for showing it to me).
The Dubai Women's College was
organizing an annual conference Insight
Dubai. The organizers had invited 50
international female students from
around the world as well as 50 local girls to
come for a week long conference in Dubai.
There were participants form Costa Rica,
US, Canada, Kenya, Australia, Japan,
Ko re a , I ta l y, L e b a n o n , Pa k i sta n ,
Kazakhstan, UAE and many other
countries. I happened to be the only
representative from the Baltic States. The
conference was impressive. We had a lot
of debates and simulations on women
leadership, Arabic law, and cultural
diversities. A tough daily schedule was
spiced up with interesting guest lectures
by prominent Arabic people, and, of
by Gintarė Galvanauskaitė
Abroad
he wears Prada shoes, carries a Fendi
bag, fingers are heavy from jewelry
and Her face hosts an enormous
amount of make-up. Yet, you can't see
much more of her – she's in a sort of long
black dress and covers her head with a
scarf. And by the way, She's an Emirati.
course, evening programs. I can
admit I have never yet participated
in such a good conference. No
wonder, Emiraties need to have
everything first-class.
Arabic women: how different are
they?
The first encounter with Emirati
women was quite shocking. I have
definitely seen women covered
with black dresses and scarves, but
never so many in one place. Yet, the
first impression didn't take long to
evaporate as the real picture came
in. Arabic women, girls, students are
This is how women used to cover their faces.
just like us. They study, work, go to
shopping malls, spas, gyms, movies,
how exactly Arabic women dress. Firstly,
go out. The only differences – they are
they were the normal clothes as we do.
always covered in black and they almost
Yet, they always put an Abaya on top (the
never have men in their company (unless
black dress). Finally, they cover their hair
they are married). I vividly remember
with a Sheila (a scarf). It depends on the
walking in the library in the Dubai
family how much a girl should cover. Some
Women's College when I heard a loud
of them slightly cover their hair. Others, on
chatting and laughing behind my back. I
the other hand, put special scarves on top
was so surprised to see that the girls who
so that they would cover their whole faces
were so freely gossiping were nothing else
(similar to a veil). Moreover, some of the
but the locals.
women wear gloves so that none of the
skin would be revealed to strangers.
I could stop here for a second and explain
Desert safari. It is really fun!
2007 June INSIDER|21
Abroad
himself. That was really amusing! Anyway,
The conference. another popular place where to flirt with
guys is driving around the main streets in
the evening. Guys get crazy and start
racing, trying to throw their phone
numbers into your car. Moreover, some of
the guys can like a girl so much that they
can follow her to her home and go directly
to her farther to talk about marriage.
Usually, mothers, sisters, aunts, cousins
t a ke c a re o f f i n d i n g a s u i t a b l e
groom/bride. There is no such thing as
dating. One of the girls I met there had a
male friend since her childhood. They used
to talk a lot over the phone and were best
friends. And one day, out of nowhere, the
guy decided he wants to marry her. Isn't
that…sweet? It is really strange to
understand that, but Emiraties find it
acceptable. And love? It will come, they
say.
Me and some of the participants near
the seven stars hotel Burj Al Arab.
Women and Men
The gender issue is very important in Arabic countries. It is
unacceptable for a girl to chat with a guy, or even worse, for a guy
to see her uncovered. There wasn't a single male in the
conference (except for the headmaster of the college). During the
evening parties, whenever girls wanted to start dancing (and that
is done without wearing black clothes as they are allowed to
uncover in front of women) all men had to leave the room.
Flirting, Dating and Getting Married
Yet, despite all the prohibitions to communicate, girls and guys
find ways to contact each other. I've experienced myself how guys
do that. I was standing in a queue at Starbucks as he, standing
close to me, started talking to me. He was repeating his phone
number and asking for me to call him, yet he didn't look at me.
Later on he caught me near a table and started spelling his phone
number again but not looking at me as though just talking to
22|INSIDER June 2007
Dubai – The Future City
Do we have a construction boom? It is
probably 50 times bigger in Dubai.
Everything is under construction there. There should
be at least 100 sky scrapers being built at the same
time. I can mention a few unique objects: the to-behighest building in the world Burj Dubai, the seven
stars hotel Burj Al Arab, a huge shopping mall with
skiing facilities Mall of the Emirates, The Palm Island,
The World. The city is only 30 years old. It is
surrounded by the desert and the Persian Gulf. It is
amazing.
There is probably no other place in the world so
diverse both according to the countries people come
from and religions. Moreover, it is both a business
center in the Middle East and a huge tourist attraction.
The environment (white beaches, light blue sea)
makes you feel like in heaven. It was my dream going
to Dubai and I did it. Maybe it is time to start thinking
about moving there?
I have Henna on my hand – traditional ornaments in Dubai.
Pain(t)ball
Sports
Have you ever wanted to feel yourself as a SWAT team member or a sneaky sniper? Have you ever thought “How the hell do they
sprint 30 meters under fire in those Hollywood action movies?” Have you ever wanted to shoot somebody's ass? Welcome to the
world of paintball!
I have always wanted to try out paintball.
The most difficult thing always was to get
enough people. It is hardly done at home,
as usually you do not have so many
friends. This is why SSE Riga is a great
place! There are always many people
who want to be acquainted with new
ways to spend their leisure time. Being
from such a cool university, we have
chosen the biggest and probably the best
paintball park in Latvia – Latvian Paintball
Club. It is about half an hour driving from
central station. There are 12 playing
grounds, starting from Omaha beach
with trenches and sandbags and ending
with Kansas City with saloon and gibbet.
the rules and look after that you to follow
them. Furthermore, they are judges and
game-makers. Course assistants can feel
the pace and the mood of the group.
Thus, they are able to recognize when it is
time to change a playing ground or
change a scenario of a game, when to
give time to rest and when to move
further. Of course, they not only watch
but also ask and take into account what
the group wants,. If you wish to rush
through all the playing grounds – let it be
so. If you like particular field – please,
stay.
Having arrived at the place, we received
all the necessary inventories: clothing,
helmets and guns (markers). Then 15
minutes briefing followed, where all the
rules were explained (it's better to stick to
the rules, I'm serious) and we were
allowed to try out our mighty weapons. In
fact, markers shoot surprisingly well.
Only ballistic arch that is increasing with
the distance can make you miss. Still, you
can adjust your fire already after the first
shot. Afterwards a group can split into
two teams either by themselves or a
course assistant.
As I mentioned scenarios, let me explain
what it is. Paintball is not only about
shooting everything that is moving. You
can also play games with special task that
have to be accomplished in order to win.
Famous example is capturing the flag.
Assistant puts a flag in the center of a
battlefield. The goal of each group is to
get it and bring to their base. It doesn't
matter if one team is full and there is only
one person left in the second team. If he
brings the flag to the base, that team
wins. It's lots of fun, believe me! Another
scenario, which we haven't tried, is to
bring the VIP to a particular place. The
goal of another team is to shoot the VIP.
Course assistants require a separate
paragraph. They are not only explaining
I should also mention that it is essential to
be smart and a good team player. If you
can rely on your partner, knowing that he
won't run away and will cover you from
the back – you can perform much better.
Good teamwork also allows to attack
from different directions simultaneously
or to rush through the barricades, having
in mind that if one falls, other will take
revenge :)
Many people ask if it is painful to be shot.
Frankly, it hurts only to such extent that it
makes you try to avoid being shot, but if it
happens, you don't cry :) If it hurt less, it
would not be interesting to play. On
contrary, if it was be more painful, it
wouldn't be very pleasant. We have seen
many girls playing and none of them
shouted from the pain or was afraid of
marks (although they appear, he-he).
Lastly, being from SSE Riga, we made a
great afterparty with shashlik, beer,
swimming in a nearby river Maza Jugla,
playing cards and discussing paintball.
The course assistant visited us even after
we moved to relaxation grounds near the
river. He told us funny stories and
explained how professional paintball is
designed.
Finally, we moved towards our homes.
We were happy, tired and we knew that
we should come back!
2007 June INSIDER|23