Experience Stern | News & Events

Excerpt from Bloomberg TV -- "I think the SEC should look at this and say, well, you know, there were two smaller rivals to NASDAQ and NYSE, they're getting together now. They're going to be right in between NASDAQ and the NYSE in terms of trading, so in some sense the competitive environment might be getting stronger, not weaker, by this merger."

Excerpt from NBR -- "Certainly when investors are lacking confidence in a CEO and that CEO leaves, there's going to be a bump in the stock price. When we think about what some of the major reasons why you would see a big bump like Microsoft, there's often the sense that there's a big amount of value in the organization, whether it be cash or cash flows from things like Windows and the Office suite and there's a concern that the CEO is going to waste that money, going to spend it frivolously trying to chase down some new opportunity and so when that cash and that treasure is kind of protected, the investor is certainly going to react very positively to that kind of a change."

Excerpt from AFP -- "'Our most probable scenario is elections in early 2014 but we do not exclude even sooner than that. The markets are reasoning in a similar way,' Roubini said in an interview with La Repubblica daily."

Excerpt from Bloomberg TV -- "This new CEO is going to have a really difficult time because there's two challenges they're facing. One is how to keep the existing core business profitable and keep on milking that for all it's worth. And at the same time, completely tear down and re-vision what they're going to do in mobile and operating systems from that perspective. And that's a very big challenge to try and do both and will require a very unique skill set to try and do that."

Excerpt from Crain's New York Business -- "'There's a whole government structure that has evolved to handle this analog way of sharing,' said Arun Sundararajan, a professor at New York University's Stern School of Business who has written on the peer-to-peer economy. 'The complexity of the city is greater. But the need and demand [for sharing services] is also greater, and whether we'll lead the way or it will take longer [to adapt] depends on which of these forces dominate.'"

Excerpt from Barron's -- "With the outbreak of World War I at the end of July 1914, Treasury Secretary William G. McAdoo ordered the New York Stock Exchange closed in order to prevent massive liquidation of U.S. stocks by British investors seeking to raise cash. (At the time, the Treasury Secretary was the de facto central banker; although legislation to create the Federal Reserve had been passed the previous year, it was not yet up and running.) The U.S. then was operating under the gold standard, so the proceeds of sales of American assets could be readily converted to gold, which could flee the country. (This account comes from When Washington Shut Down Wall Street, a 2006 book by William L. Silber, an economics professor at New York University and—full disclosure—a professor of mine in grad school.)"

Excerpt from CNC World -- "The dropout rate, the switching rate of people from BlackBerry to Apple and Android is very high and as early adopters of BlackBerry start ditching those phones for the smarter ones, they are going to lose their install base very quickly. They already lost a lot. At some point when the install base comes down to single digits, that’s as good as bankrupt."

Excerpt from AP TV -- "I think the lesson of these recent trading problems...is that everybody who's using them has to check on the software and the people have to be highly trained who are pressing the buttons to execute the trades or the algorithms they build in the trading strategies. So a lot more work has to go into making sure those things don't have errors in them. I don't think the problem can go away entirely, but I think some of it is avoidable and it will cost them a little money, but they need to spend that money because the whole market system is involved in this and if people lose confidence in the markets, then these very important markets won't function as well as they should and our economy will be the worse for it."

Excerpt from Bloomberg -- "Other economists, including Mohamed El-Erian, chief executive officer of Pimco, Kenneth Rogoff of Harvard University and Nobel laureate Michael Spence, aren’t as pessimistic. 'The American economy still has great strengths in terms of innovation,' said Spence, a professor at New York University’s Stern School of Business. 'It’s very flexible and adjusts relatively quickly.'”

Excerpt from Jamaica Observer -- "The [Jamaican] Government, we submit, would be wise to heed the advice of world-famous Jamaican economist Professor Peter Blair Henry, dean of the Stern School of Business at New York University. Professor Henry in his new book Turnaround: Third World Lessons for First World Growth (2013) states: 'Although there is not one single path to prosperity, one thing leaps out of the evidence -- discipline.'"

“‘An Education in Possible’ isn’t just a tagline; it’s an experience,” Larry Arbuthnott, a student in the second year of the MBA/MPA dual degree program, explained to incoming MBA students at the 2013 LAUNCH, the incoming full-time MBA students’ introduction to the NYU Stern MBA experience.

NYU Stern’s Citi Leadership & Ethics Program, sponsored by the Citi Foundation, has appointed Ellen Seidman, former director of the US Treasury Department’s Office of Thrift Supervision, as its 2013-2014 Citi Leadership & Ethics Distinguished Fellow.

Excerpt from The Wall Street Journal -- "While some traders and economists shrug their shoulders and write off recent problems—such as this week's options trading snafu or the 2010 'flash crash'—as the price of progress, others say the problems are becoming so widespread that exchanges and big firms need to be held to a higher standard. 'It shows that corners are being cut and not enough is being spent on testing these systems,' said financial historian Richard Sylla of New York University's Stern School of Business."

Excerpt from Marketplace -- “'What happened was the computer program mistakenly started to sell options at like one dollar an option, when in fact the market price was higher than that,' says Richard Sylla, an economics professor at New York University. 'Basically, Goldman sold a lot of options cheaply. And if they have to buy them back, they will lose money because they will have to pay the market price for them.'”

Excerpt from Motley Fool -- "In the late 1960s...Edward Altman, published a formula that would change finance: the Altman Z-score. Altman researched nearly 70 bankrupt manufacturing companies' financial statements pre-bankruptcy to determine what these companies had in common. This research gave rise to an easy-to-use equation that could predict bankruptcy."

Excerpt from The Wall Street Journal -- “'He did very well to refuse the pressure of lowering interest rates at the time when government deficits were mounting last year,' said Viral Acharya, a professor at New York University’s Stern School of Business."

Excerpt from Economic Times -- "'Different components of human rights like freedom of speech, discrimination, harassment at work, security practices and supply chain issues need to be integrated in different courses at business schools, and it could vary from region to region,' [Posner] says."

Excerpt from Business News Daily -- "'Anyone teaching has to believe that given the right tools and opportunities, every student can be a member of the entrepreneurial class,' [Williams] said. 'You can't change personality, but you can change key habits.'"

Excerpt from Fox Business -- “'The Fed has shown itself to be the central banker of the world. The waters are not exactly calm right now so it’s more than likely that there will be some tests for the new Fed chief,' said Richard Sylla, an economist and financial historian at NYU."

Excerpt from Bloomberg TV -- "They're just not localizing for the market. They're trying to shove a square peg in a round hole...The way people tend to find luxury brands is initially through search. And most aren't typing in English. They're typing in Cyrillic. And a lot of brands just haven't optimized their content...they just haven't done the proper tagging. It's basic blocking and tackling."

Excerpt from Fox Business -- "Galloway says the decline in specialty retail stores on Facebook shows that most users don’t come to the social network when they plan to shop. 'They don’t approach Facebook with a commerce mindset,' says Galloway. 'People are there to socialize and look at pictures of friends.'”

Excerpt from Yahoo! Finance -- "The problem with Icahn’s plan is that such financial machinations can be a distraction for a technology company that needs to focus on developing innovative new products, according to Arun Sundararajan, professor of information sciences at New York University. 'This kind of financial engineering isn't in the long-term interest of Apple's shareholders,' he says. 'They're still a tremendously valuable company, but stock price boosts from financial engineering shouldn't distract from the fact that their business model doesn't look as solid and dominant as it did four years ago.'"

Excerpt from Financial News -- "Surveying executives across industries, they asked how many had issues and concerns at work that they did not articulate. The answer came back: 85%. By anyone’s measure, that’s a lot of silence. What it means is that we go to enormous time, trouble and expense to hire smart people – and then they shut up."

Excerpt from Project Syndicate -- "Without dismissing the downside risks, I remain cautiously optimistic about the global economy’s prospects. With greater clarity in terms of Chinese and US policy, both economies should gain momentum. That will give developing countries (many of which face difficult domestic policy choices) a tailwind, while making the substantial challenges in Europe and Japan easier to address."

Excerpt from Bloomberg -- “'Recent regulatory changes will cause dealers to reduce risk and to make markets less aggressively,' Bruce Tuckman, senior fellow of financial markets research at the non-profit Center for Financial Stability and a finance professor at New York University’s Stern School of Business, said in an Aug. 14 telephone interview. 'End users will lose some liquidity as dealers adjust to higher risk capital mandates, lower leverage limits, and increased margin requirements.'”