After two rained soaked free days, we were reminded that this wasn’t just a school sponsored vacation with our second to last round of business visits. We began the day at Phillips 66 (a holding company of ConocoPhillips), a downstream energy company that is headquartered in Houston Texas. You have likely passed by their iconic logo many times while driving. The presentation began with a short movie about the company’s history dating back to the early 20th century. Next, Thaddeus Low and Octavio Santa Gadea gave a quick overview of the petroleum industry. The major takeaway from these presentations was that most of the consumption growth in the ensuing decades will come from Asia and Africa while the production growth will come from North America. The predicted consumption growth is a result of the burgeoning middle class in the emerging markets as they begin to purchase cars and other vehicles that require oil. Most of the predicted production growth is from Hydraulic Fracking which allows for the development of shale oil gas fields.
The lobby at ConocoPhillips.
A panoramic view from our visist at ConocoPhillips.
Following a brief lunch, we were off to our second visit of the day at Credit Suisse. Here we were hosted by John Lentini, director of fixed income middle office of Asia in their operations department. His presentation centered on Credit Suisse’s business in Asia and the vast opportunities that are available by working abroad in a multi-national company. One of the major takeaways of his presentation was how the increase in regulation after the 2008 financial crisis is going to affect the worldwide banking industry going forward. He was confident in Credit Suisse’s ability to remain profitable going forward but was concerned that the new regulations would harm the profitability of banking in the United States. He predicted the new regulations, specifically Dodd-Frank, would result in the outsourcing of US banking jobs to countries with less stringent regulations.
The trading floor at Credit Suisse.
Walking through Credit Suisse’s Smart Work pilot
After a quick rest following our busy day of business visits the group departed for Singapore’s famous Night Safari. While we waited for it to get dark we grabbed dinner, saw the fire breathing show and the Creatures of the Night show. The fire breathing show was made all the more entertaining when Todd was picked from the crowd to participate. At this point it was dark and we boarded a tram that took us throughout the safari for forty five minutes of action packed exhibits of sleeping animals which were supposed to be nocturnal. After a long day of business visits and animal sitings the group was ready to head back to the hotel and get some rest for our final day of business visits.
Paige at the entrance of the night safari.
Mike getting his feet tickled at the fish pedicure.
Todd volunteering at the fire breathing show.
An elephant at the Night Safari.
By John Newman and Matt Feldman