Experience Stern | News & Events

The Leonard N. Stern School of Business Graduate Convocation Ceremony took place on Thursday, May 22, 2014 at Radio City Music Hall.

Excerpt from Barron's -- "The West needs to overcome the political dysfunction and short-termism that frustrates durable economic growth, delays financial soundness and dampens job creation. For their part, emerging powers need to accept that global instability would inflict heavy damage on their still evolving economies—and that assuming greater international responsibility is ultimately in their interests. And they all need to work toward these goals before a massive global crisis shocks them into action and dictates the terms of the response."

Excerpt from Barron's -- "The West needs to overcome the political dysfunction and short-termism that frustrates durable economic growth, delays financial soundness and dampens job creation. For their part, emerging powers need to accept that global instability would inflict heavy damage on their still evolving economies—and that assuming greater international responsibility is ultimately in their interests. And they all need to work toward these goals before a massive global crisis shocks them into action and dictates the terms of the response."

Excerpt from Reuters -- "In a G-Zero world, with no single dominant voice and a lack of global coordination, India now stands out as a rare oasis of leadership and a prime opportunity for bilateral engagement. Take India’s direct relationship with Washington, where high-profile visa issues, including the arrest of an Indian diplomat in New York, have strained relations. The United States denied Modi a visa in 2005 based on his role in Gujarat riots in 2002. But sometimes winning really does solve everything: after Modi’s election victory, Obama called to congratulate him and invite him to the United States. For his part, Modi is looking to put points on the board, not settle scores. Expect him to pursue an invigorated, pragmatic approach to international relations."

Excerpt from US News & World Report -- "An academic study on the CARD Act found that the legislation’s limits on fees reduced borrowing costs to consumers overall by 1.7 percent a year, and had a still more dramatic impact for borrowers with lower credit scores; people with credit scores below 660 saw their borrowing costs go down by 5.5 percent. All in all, this study found an even larger impact than the CFPB report, calculating that fee reductions as a result of the CARD Act have saved consumers a whopping $12.6 billion per year."

Excerpt from BBC -- "'The secret is to start small. Take the focus off thinking that you need to innovate everything,' said Aline Wolff, clinical associate professor of management communication at New York University’s Stern School of Business. 'Instead, managers who juggle multiple tasks should pick one of them and reconsider how it’s typically completed.'"

Excerpt from Bloomberg -- "'The value of a criminal admission only has symbolic value to let the public know the Justice Department is out there doing its job.' said Roy Smith, a finance professor at New York University’s Stern School of Business and a former Goldman Sachs Group Inc. partner. 'I don’t think it extracts anything other than an opportunity to register a symbolic victory.'"

Ajay Banga, President & CEO of MasterCard, will be the keynote speaker for NYU Stern's 2014 Graduate Convocation.

Excerpt from The Economist -- "Remarkably, they find that people pay a premium of 10%-15% less for 100-year leaseholds and 5%-8% less for leaseholds of between 125-150 years. Only for leaseholds of 700 years or more do they detect no difference in price. On the whole, they reckon, a discount rate of about 2.6% appears to apply out well beyond a century. Oddly enough, people are willing to part with real money now in exchange for benefit flows accruing well beyond any reasonable expected lifespan. That won't make it any easier to generate the political support for meaningful action to slow climate change. But it does make it harder to justify delay based on the fact that people simply don't care much about the distant future."

Excerpt from Bloomberg Businessweek -- "Ajay Banga, chief executive officer at MasterCard, will speak to MBA’s at NYU’s Stern School of Business on May 22."

Excerpt from Fox Business -- "I think fundamentally it's a story of economic growth and technological progress stimulating economic growth. The term 'sharing economy' is sometimes misleading because, at the heart of this, this is pure capitalism. It's markets, it's free markets, it's pricing, it's... people transacting with other people. And so when there's this kind of disruption, special interests or established interests do sort of step in and use what they can to sort of try and make sure that the interests that they have are preserved."

Excerpt from Financial News -- "Markets will continue to grow. But the key players in it, as they always have, will change. Big, systemically important banks will have their role to play, but a universe of smaller, less-regulated, non-systemic non-banks will be the source of much of the innovation and energy that sustain the markets."

Excerpt from AdAge -- "But releasing an app pits brands against the commandeering forces of social media and games. 'Unless you have something that's an incredible application in terms of utility, it's just a tree falling in the forest,' said Scott Galloway, a marketing professor at NYU. 'No one hears it.'"

Excerpt from Financial News -- "The study, Evasive Shareholder Meetings by Yuanzhi Li of Temple University and David Yermack of New York University, was published recently by the US National Bureau of Economic Research. It investigated the relationship between where and when US companies held their AGMs in the five years to the end of 2010, and the trends in their share prices in the six months after the meeting. When companies held meetings 1,000 miles away from their headquarters, the average cumulative stock returns over the next six month were -3.7%. For companies that held their AGMs at least 50 miles from their headquarters and 50 miles from a major airport, the average abnormal stock performance over the six month was -6.8%."

Excerpt from Financial Times -- "When Laura Fox decided to go to business school, she chose NYU Stern for one reason: its urbanisation programme. 'Given the scale of urbanisation in the next 40 years, if we don’t get it right now, we are in real trouble,' she says. As she approaches the end of her first year, she is part of a team of three MBA students who are working with academics in the Marron Institute at NYU to help policy makers in Mexico City develop a more liveable city. 'This project is really different,' she says, 'because we are building a business-focused proposal for a policy group.'"

Excerpt from Financial Times -- "But there is a more fundamental point, says Prof Romer: should urbanisation be restricted or actively encouraged? He is clear: 'I decided to start working on urbanisation because in developing economies I concluded that the effect of urbanisation was the fastest way for their economies to grow.'"

Excerpt from Yahoo! Finance -- "In the second stage of the research, New York University’s Dr Adam Alter studied 500 first and last names of US lawyers. He found that those with the most pronounceable names were promoted faster than their unusually named counterparts, even though they had comparable skills and experience."

Excerpt from Fashionista -- "'We have seen a great decline in brand presence on Tumblr, which is a negative forward looking indicator for the platform,' Scott Galloway, founder of digital luxury consultancy L2, says."

Excerpt from Harvard Business Review -- "There’s more to progress than technological innovation. Breakthroughs can also result from innovations in management. Past work by another economist, Paul Romer, helps make the point. He explains that the history of progress is a history of two types of innovation: Inventions of new technologies, and introductions of new laws and social norms. We can make new tools, and we can make new rules. The two don’t always march in lockstep. In a period of time where one type of innovation flags, the other type can sometimes forge ahead."

Excerpt from CNBC -- "It is now more than five years since Fannie Mae and Freddie Mac were ignominiously put into conservatorships and became wards of the U.S. government — at a cost of $188 billion. They have continued to function during these five-plus years, and have even become profitable again. But it is long past time to give them a decent burial — and also to make sure that clones don't spring up to replace them."

Excerpt from Poets & Quants -- "More than anything I’m grateful for the amount of resources that the Entrepreneurs Challenge—and NYU—afforded us. Everything imaginable that you need to get your business going—a framework, mentors, continual feedback—they gave us. I can’t say enough about the coaches, mentors, judges, and all the people we were introduced to throughout the process. As first-time entrepreneurs, they were incredibly helpful and always willing to share their time. So even if we would have lost, it still would’ve all been worth it."

Excerpt from TIME -- "Here’s why there is good reason to be confident that China will do well over the next year or so: The leadership under Xi Jinping has actually engaged in transformational economic reform without the specter of urgent crisis. Leaders rarely undertake difficult projects when circumstances don’t absolutely force their hand (and even then, those responses begin to recede along with the threat itself). That’s what we saw with the Eurozone sovereign debt crisis, and with financial reform in the U.S."

Excerpt from BedTimes Magazine -- “'Any organization that’s only embracing incremental change is in a dangerous position,' said Williams. 'That path is getting narrower and narrower, until at the end, the customer has forsaken you for someone else that you didn’t even see coming.'”

Excerpt from Fortune -- "Roubini said the European Union and the Euro were looking a lot stronger than a year ago. He also said 'Abenomics' appears to be working in Japan, and the risk of a recession has receded there. But the biggest improvement, Roubini thought, is taking place in the U.S. The deficit has shrunk and Washington appears to have called a truce."

Excerpt from Idealist.org -- "NYU’s Stern School of Business, in partnership with its Social Enterprise Association MBA club, established the school’s Loan Assistance Program. The program seeks to reduce the financial burden of repaying business school loans for MBA graduates who pursue nonprofit, government, or social enterprise career paths. ... A Loan Assistance Program helps enable students to think early—and seriously—about pursuing career paths that support positive change."