Experience Stern | News & Events

The NYU Stern Salomon Center for the Study of Financial Institutions and The Clearing House hosted the fourth installment of the Gallatin Lecture Series on Banking on Friday, October 23.

The NYU 2015 conference on digital big data, smart life and mobile marketing analytics will explore how mobile technologies and connected smart devices affect advertising, promotions, marketing ROI, and omni-channel targeting effectiveness.

Excerpt from BusinessBecause -- "For roles that demand tech-savvy recruits, employers are looking for students with a technology background or a strong interest and understanding of innovation, says Roxanne Hori, Associate Dean of Corporate Relations, Career Services and Leadership Development at NYU Stern."

Excerpt from Financial Times -- "It is 25 years since Paul Romer published a seminal paper on the role of ideas and knowledge in the sustained growth in living standards. The core insight was that because ideas are 'non-rival' — one person’s use of an idea doesn’t leave any less over for others to use — discovery and innovation enables economies to achieve increasing returns to scale: producing more than one-for-one with the amount of inputs that go into the production process. That, in turn, is what makes it possible for material living standards — the amount we produce per capita — to grow continuously."

Excerpt from JoeGeni.com -- "What's amazing to me is that 14% of global employment is in manufacturing, and with the expansion of the global economy, jobs in these supply chains are incredibly important, particularly in poor places where investment from global companies has been transformative. I've done all this work on Bangladesh and the garment sector there. It's the second biggest garment sector in the world. It's incredibly important to Bangladesh's growth."

Excerpt from Fortune -- "'There’s nothing that one can think about Bernie Sanders that is going to be interpreted as a good thing from the perspective of the firms that are in or around the financial sector,' [White] says."

Excerpt from New York Magazine -- "Schweitzer and Galinsky point to a study by New York University psychologist Gavin Kilduff, who found that people tend to perform better when their rivals are present, as compared to their performance against random strangers."

Excerpt from New York Magazine -- "The theory, pioneered by NYU social psychologist Jonathan Haidt... argues that humans respond to five different sets of moral concerns."

Excerpt from RT.com -- "Here's where we have to separate the company from the investment. I like Tesla as a company. It think it's a company that's disrupting a business that needs to be disrupted. The automobile business is an awful business. It's badly managed, badly run across the board. So I think Tesla is disrupting the right business. I even like Elon Musk. I mean, I think he's a little over the top. But he's exactly the kind of CEO that a company like that needs: a PR machine, which is everything he does creates publicity. But Tesla, it has been, in a sense, been selling investors in what I call 'the big story,' which is 'we're going to be a big company. We're going to succeed.'"

Excerpt from MetroMBA -- "The NYU Stern School of Business and NYU Wireless have received a grant from the National Science Foundation. This four-year, $750,000 grant from NSF will go toward research in to the millimeter wave (mmWave) wireless networking spectrum and related business policies and models. The research will focus on business-related questions that will arise with the development of mmWave or 5G."

Excerpt from GMAC News -- "For the last two years we have strived to make being an Ally synonymous with being a member of the Stern Community. It means making your classmates and colleagues feel understood and valued (not just accepted), in order to get the most out of them. Not because it’s politically correct, but because it is the single best way to add value to business and society."

Excerpt from MarketWatch -- "Stock market crashes are inevitable, and we’re kidding ourselves if we think otherwise. That, at least, is the stark conclusion to emerge from research conducted several years ago into the frequency of crashes: 'Institutional Investors and Stock Market Volatility,' by Xavier Gabaix, a finance professor at New York University, and three scientists at Boston University’s Center for Polymer Studies: H. Eugene Stanley, Parameswaran Gopikrishnan and Vasiliki Plerou."

Excerpt from Bloomberg -- "I just think [Yahoo] has been a soap opera that's gone on two or three seasons too long. It should be sold. It is a great asset. It's the most trafficked website in the world."

Excerpt from Fashionista -- "For the past nine years, New York University’s Luxury and Retail Club has brought together students, faculty, luxury executives and local business owners to discuss the ever-changing luxury landscape. Eve Mongiardo, chief operating officer and partner at Irving Place Capital, argued that luxury is no longer about exclusivity and high price points. 'Some argue that Starbucks is a luxury company,' said Mongiardo. 'In many ways it is because it’s a daily indulgence that many of us can’t live without.' Luxury can mean different things to different people — it just depends on whom you’re asking."

Excerpt from Financial News -- "Existential events are not often fatal, but few companies escape the years of lacklustre performance that follow the thumping that the events engender. Boards of big business companies need to wake up and recognise that they can lower the probability of such events in the future by reshaping the cultures and middle management cadres that have enabled them."

Excerpt from The Wall Street Journal -- "Stereotypes in general—negative and positive—are entrenched in part because they help us take cognitive shortcuts. By offering a way to 'automatically categorize people into social groups,' they allow us to 'free up mental energy to' live our daily lives, says Michael North, an assistant professor of management and organizations at New York University’s Stern School of Business."

Excerpt from the Financial Times -- "Trium’s strength lies in harnessing the very different world views and teaching styles of three institutions, says Prof Zemel."

Excerpt from Voice of America -- "TPP opponents say the deal means disputes between businesses and governments can be resolved by arbitrators, a process they contend gives too much power to unelected officials. That provision drew the ire of New York University professor and former IBM official Ralph Gomory. Gomory told Voice of America this provision of a three-person panel to decide any controversy that might arise 'is not a democratic process.' He says 'it’s a process of a few people who are appointed and make a judgment.'"

Excerpt from CNBC -- "But, Damodaran said Uber's challenge is going to be showing how profitable it really is, especially with increasing competition. 'Investors are willing to wait a really long time and Uber may very well be able to convince investors, but I think the biggest challenge they face is, unlike a year ago when the competition was small and splintered, they are now playing against the big boys in their own game.'"

Excerpt from The Huffington Post -- "...long before the latest Guidelines were being contemplated, large food companies began witnessing the rapid evacuation of their consumers. Lobbying against the Dietary Guidelines will not change that, and with the microscope so sharply focused on them, it is likely to further damage consumer trust and backfire."

Excerpt from the Financial Times -- "Based on my current assessment of the outlook and the risks around the outlook, I believe the economy can handle an increase in the fed funds rate and that it is appropriate for monetary policy to take a step back from the emergency measure of zero interest rates. A small increase in interest rates from zero is not tight monetary policy."
 

On Friday, October 16, the Luxury & Retail Club will hold its ninth annual conference, themed "Redefining Luxury." The conference will feature a fireside chat with Julie Rice and Elizabeth Cutler of SoulCycle as well as a keynote speech by Rebecca Minkoff.

Excerpt from Project Syndicate -- "Online talent platforms apply a similar approach to the world of work – with a similar impact. By creating regional, national, and even global job markets, they allow employers to tap into broader talent pools and connect job seekers with a wider universe of opportunities. In this way, they have transformed the typical job search, and are now approaching the critical mass needed to move employment numbers."

Excerpt from Marketplace -- "The economy is this system that absorbs shocks, and either prices move when a shock hits the economy or quantities move when a shock hits the economy. What are these quantities I’m talking about? These are like the numbers of firms or the numbers of workers. So if we don’t make little adjustments in prices that help the economy adjust to these shocks, instead what we'll see is firms going bankrupt and people losing their jobs."

Excerpt from Bloomberg -- "In a working paper for the National Bureau of Economic Research, a group of researchers looked at 8.5 million credit card accounts. They found that for every 1 percentage point reduction in what it costs banks to borrow, banks extended $127 in credit to families with credit scores below 660. Those families spent 58¢ for every new dollar in credit. Under the same conditions, families with credit scores above 740 got $2,203 in extra credit. But they didn’t spend a penny of it. Says Johannes Stroebel of the NYU Stern School of Business, one of the authors: 'The targeting of these credit expansions is potentially to the wrong people, to the people that don’t want to borrow more.'"