Experience Stern | News & Events

Excerpt from TheStreet.com -- "He added that Walmart, in fact, still struggles with profitability from its Chinese operations. 'They misread the culture,' said Salomon. 'Customers didn't want the same things in China that they wanted in the United States and they ran into trouble with local politicians and national politicians along the way.'"

Excerpt from The Los Angeles Times -- "And Stephen Cecchetti of Brandeis University and Kermit Schoenholtz of New York University observe, the privacy of financial transactions should be seen on balance as a virtue. 'We are what we buy,' they've written,'so protecting our privacy requires controlling information about our payments.'"

Excerpt from The New York Times -- "Mr. King has been warning about the possibility of another financial crisis, which he has contended is a near certainty, and says that the European Union is set for an 'economic political crisis.' In his book, he suggested that the monetary union had created a conflict between a centralized elite and democratic forces at the national level. 'This is extraordinarily dangerous,' Mr. King wrote."

Excerpt from TheStreet.com -- "The main thing is to think carefully about the political, cultural and economic hurdles that you'll face in every market, and then adapt your business model to those environments."

Excerpt from The Guardian -- "The economist Paul Romer, whose work in the 1990s shaped our understanding of infocapitalism, defined information as 'instructions for making things.' Because these instructions are reproducible using minute amounts of labour, energy and mass, and not used up in the process of production, Romer concluded they would end up either very cheap or free."

Excerpt from Financial News -- "This year, both parties have been greatly shaken up by populists of the sort that never would have impressed voters in the past. Both Trump and Bernie Sanders, the lifelong socialist seeking the Democratic nomination, are enjoying surprising success because they have tapped into deep-seated anger and frustration of blue collar workers whose real incomes have been stagnant since the 1970s and whose economic future seems bleak and beyond their own control."

Excerpt from Project Syndicate -- "... the principal unaddressed problem affecting China’s financial system is the pervasiveness of state control and ownership, and the implicit guarantees that pervade asset markets. This leads to misallocation of capital (with small and medium-size private enterprises struggling the most) and the mispricing of risk, while contributing to a lax credit culture. The absence of credit discipline is particularly problematic when combined with highly accommodative monetary policy, because it can artificially keep zombie companies afloat."

Excerpt from The New York Times -- "As [Baumol] points out, no matter how fast our computers become or how many people worldwide plug into broadband-Internet access, it will still take roughly 30 minutes for four human beings to play Mozart’s String Quartet No. 14. If your business is playing string quartets for live audiences, there’s a fundamental limit to how much more productive, in raw economic terms, your work can become."

Excerpt from The Economist -- "Even with a perfect transport plan, Manila would probably have a problem. The population of the entire capital area rose from 18m to 23m between 2000 and 2010. It is dense: Shlomo Angel of New York University, who measures cities, estimates that it crammed 274 people into each hectare a decade ago, compared with 64 per hectare in Paris—and Manila will have got only more squashed since."

Excerpt from The Chronicle of Higher Education -- "Well before the events of the fall, this group produced a body of work that underlies the narrative that academe suffers from a leftist ideological uniformity that conflicts with free speech. The New York University psychologist Jonathan Haidt is a key figure here. Haidt’s article in The Atlantic, 'The Coddling of the American Mind,' written with Greg Lukianoff of the Foundation for Individual Rights in Education, was the most prominent summation of this view."

Excerpt from the Los Angeles Daily News -- "Technology and globalization, particularly jobs going overseas, have created the highest gap in income equality in more than 30 years, according to a graph he presented. As artificial intelligence increases, the middle class will get pushed to one end of the spectrum, either up to top income earners, or more likely, down to its lowest, Spence said."

Excerpt from Forbes -- "If ever there were a case of coals to Newcastle it must be the announcement by the U.S.-based coffee shop chain Starbucks that it intends to set up in Italy next year. Chief executive Howard Schultz reportedly describes the move as the fulfilment of a 30-year dream. If it in fact turns out to be a nightmare Schultz will at least have the consolation of knowing he was not alone in mis-reading the market. Indeed, a book just out by Robert Salomon, globalization expert at New York University’s Stern School of Business, describes how often companies from all over the world come unstuck by ill-judged expansion into territories they do not understand as well as they think they do."

Excerpt from Bloomberg -- "Shares of companies making cash-and-stock acquisitions typically decline after a deal is announced, said Menachem Brenner, a finance professor at New York University'™s Stern School of Business."

Excerpt from The New York Times -- "Irving Schenkler, a professor and crisis management expert at New York University, said there have been few parallels in history. 'It’s unprecedented in terms of the cross-national scope of it, the degree of the problems,' he said. 'There are so many different fronts.'"

Excerpt from Marketplace -- "Scott Galloway, a marketing professor at the Stern School of Business at NYU, said it's clear what Uber needs to do in response: First, acknowledge what happened. Second, make sure it's the company's top person, the CEO, who publicly addresses the issues. 'The third is you have to over-correct,' Galloway said, 'They have to announce immediately a serious of additional screening tools that they're implementing.'"

On Friday, February 26, the Latin American Business Associations (LABA) of NYU Stern and Columbia Business School will host their inaugural joint conference, themed “Latin America: Navigating Uncertainty.”

Excerpt from Bloomberg -- "There's some upside risk to the economy. I see that with low oil prices, low gas prices, consumer spending could actually even be stronger than what we've seen in the last couple years. And it's been the biggest driver by far of the US economy."

Excerpt from Reuters -- "'I favor an eclectic approach, recognizing that policy is always made with a high degree of uncertainty and one shouldn't place all their bets on one approach,' he said at the NYU Stern School of Business. 'While I understand the impetus behind wanting a single rule to follow, it's just not ready for prime time.'"

Excerpt from The Wall Street Journal -- "'My own view is that it was time' to lift short-term rates off the near-zero levels they were at then, Mr. Williams said in the text of a speech to be presented at New York University. 'The economy has been showing solid momentum, the recovery was well into its seventh year, and I'm someone who takes forecasts into account,' Mr. Williams said. The economy's likely path supported 'getting on the normalization track,' he said."

Excerpt from Bloomberg -- "I think that most companies look to global markets and they think that they're incredibly exciting. And they are; there's a lot of growth around the world, at least up until recently in emerging markets. There's a lot of growth in the world and companies want to tap into that. But the problem is that they often overlook the challenges that exist in those markets. And those are, principally, three challenges: cultural challenges, political challenges and economic challenges that they'll face in those markets."

Excerpt from BusinessBecause -- "'I take students on visits to places "off the beaten path" to help them gain an appreciation of hand-made luxury goods,' says Thomaï Serdari, director of the program’s luxury marketing specialization. ... 'NYU Stern gives [students] access to the strongest luxury retail market in the US,' says Thomaï. 'Our network of graduates is global, strong, and renowned for its effectiveness.'"

Excerpt from TIME -- "A vote to leave would force the British government to renegotiate trade and investment relationships with other E.U. members. Over time, Britain might secure access to E.U. markets for its goods on fairly favorable terms, but European leaders would make the process as arduous and painful as possible to discourage other E.U. states from threatening exit to win concessions. Two years of negotiations–at least–would generate enough uncertainty to create serious problems for Britain’s growth and investment outlook."

NYU Stern's Center for Global Economy and Business will welcome Dr. John C. Williams, President and CEO, Federal Reserve Bank of San Francisco for a talk with the Stern community on Thursday, February 25.

Excerpt from China Radio International -- "I think the government is trying to efficiently use the land but through this great experiment. Remember, it's just an experiment. Number one, we know it's very difficult to change people's eating habits. And secondly, all these reasons that have been given here is, 'Well, it's more scientific,' and so on a so forth, 'use less water.' And it did not mention the economic side of it."