Experience Stern | News & Events

Excerpt from Al Jazeera -- "The way out is for Greeks, who are overwhelmingly pro-Euro, to vote 'yes' and then have a renegotiation, hopefully with a different government in charge in Greece, with the creditors, and have a reasonable solution. Greece is not a crazy place. It's not a very poor place... Greece is not a third world country. Greece is in the center of Europe and can easily remain in the center of Europe with a 'yes' vote."

Excerpt from CNN -- "The problems of Greece is that if it goes to Grexit, it's going to be a total disaster mode... It's the most irresponsible government I've seen in Greece in decades. There is no concern about contagion in other countries; the problem is that Greece cannot even deal with its own problems... The full drama, the disaster is going to be in Greece and not the rest of the European Union."

Excerpt from LinkedIn -- "Since January 2015, 59 Greek businesses have closed down each day on average. Banks have hemorrhaged cash; since mid-December 2014, when elections were announced, more than €40 billion has been withdrawn by depositors. That includes more than €5 billion last week alone, and that was before Tsipras’ surprise announcement of a referendum announcement and subsequent capital controls. The true cost of shutting down Greek banks for a week are still too difficult to calculate, but it’s safe to assume it will cost Greece at least hundreds of millions of euros in lost economic activity."

Excerpt from the Financial Times -- "For those of us who attended the talk, this was a rare opportunity to hear from a leader outside the realm of corporate America. The principles of leadership espoused by General McNeil were unique from those typically learned in business schools. At Stern, our course covered the requisite topics of teamwork, power and politics, and conflict management, but it ended with McNeil encouraging us to spark revolutions and change lives."

Excerpt from Project Syndicate -- "Above all, most emerging markets are financially more sound today than they were a decade or two ago, when financial fragilities led to currency, banking, and sovereign-debt crises. Most now have flexible exchange rates, which leave them less vulnerable to a disruptive collapse of currency pegs, as well as ample reserves to shield them against a run on their currencies, government debt, and bank deposits. Most also have a relatively smaller share of dollar debt relative to local-currency debt than they did a decade ago, which will limit the increase in their debt burden when the currency depreciates. Their financial systems are typically more sound as well, with more capital and liquidity than when they experienced banking crises. And, with a few exceptions, most do not suffer from solvency problems; although private and public debts have been rising rapidly in recent years, they have done so from relatively low levels."

Excerpt from CNBC -- "The multi-month negotiation between Greece and the Europeans has not yet reached an agreement. The long negotiation has created unprecedented and unnecessary uncertainty that has brought the Greek economy to a standstill. Without an agreement, Greece will default in July within the euro or outside of the euro ('Grexit')."

Excerpt from CNN -- "No country ever pays back its debt - the United States doesn't, Britain doesn't, nobody does. What they do is service it - they pay the interest on it. And Greece is extremely likely to have most of its debt held by the European partners and by the stability mechanism; that debt right now has an interest rate of about 1.8%. So though it [the debt] is huge, it has a very small servicing cost and Greece can in fact service it. The crucial question for Greece is to get out of this cycle of asking for money, to reform its economy, to do well, to grow, and be able to pay the debt. I don't think there will be any problem whatsoever paying the money forever for this debt if Greece grows. So the crucial thing we should aim for in any agreement is how do we get the Greek economy to perform better, to be more competitive, to be in better shape compared to the rest of the world and be able to grow. Once we do that, once we get there, Greece will do great."

Excerpt from Bloomberg -- "'The probability of Greece leaving the euro, sadly, has only increased with this decision,' said Nicholas Economides, Professor at the Stern School of Business at New York University, in a phone interview."

Excerpt from the Financial Times -- "'Banks have come back,' says Roxanne Hori, associate dean for corporate relations and career services at NYU Stern. 'The M&A marketplace is healthy and the start-up community is healthy, so there are lots of IPOs.' "

Excerpt from the Financial Times -- "We have some advice that might help young analysts get through the initial two years: first, relax a little. Remember that the training is all about establishing a reputation for being professionally reliable, which means getting the work done accurately and on time ... Second, learn to handle chaos and disorder. ... Third, a tough training environment is going to have to be endured before you can really judge whether or not the work (and the career) is what you want." 

Excerpt from mbaMission -- "'First and foremost, I think people regard us as one of the elite business schools with our reputation as an exceptional academic institution. I think the second point, and it’s in our name, of course, is New York—and not just that we’re in New York, a capital of world business, but how we leverage the city as an extension of our classroom. I think the fact that people gain incredible access to experts in industry coming into our classrooms, in addition to real-world learning taking place outside of the classroom, in the business community directly—these benefits are huge advantages.And the third is our diversity of offerings. No matter what industry or function, we occupy that space, and just like the diversity of the city itself, the way we approach business and management is very diverse.'"

Excerpt from CNN -- "Unfortunately, the Greek government made such a crazy decision yesterday...it gambled with the whole future of Greece and let the decision be at the hands of the ECB and the Eurogroup. This, in my opinion was a totally irresponsible move. There was an opportunity to make a deal... Instead we're going through this crazy adventure of a referendum and the last referendum that happened in Greece was 40 years ago... it's very strange for the Greek system."

Excerpt from The New York Times -- "'It’s absolutely critical that they don’t sacrifice safety over speed of growth,' [Sundararajan] said, adding that a major car accident involving a HopSkipDrive vehicle, or an untrustworthy driver in the company’s ranks, could be catastrophic for the business. Creating a plan for such an event, the way some companies set up product-recall plans, would be wise, he said."

Excerpt from the Los Angeles Times -- "'People below the age of 30 are much more likely to identify with their mobile and computing devices than the cars,' said Arun Sundararajan, a professor of information, operations and management sciences at New York University. 'Autos just aren't the identity-making purchase that they once were.'"

Excerpt from Refinery29 -- "'Placebos work precisely because you expect them to have a particular effect,' Dr. Alter explains. 'There can’t be a placebo effect unless someone — or the text on a product label — suggests that it should have a certain effect on you.'"

More than 100 faculty and alumni from NYU Stern’s Master of Science in Business Analytics (MSBA) program, as well as practitioners, gathered for the School’s First Annual Business Analytics Symposium to share insights into current issues in the field.

Excerpt from Clear Admit -- "'One common theme we continue to hear with growing intensity from our prospective students, particularly millennials, is the importance of time—how can I learn what I need to know as quickly as possible to excel in my current position or to be competitive for new functions?' says NYU Stern Assistant Dean of MBA Admissions Isser Gallogly. 'The [Advanced Professional Certificate] APCs provide students with specific area knowledge fast—and they are offered on weeknights and Saturdays, making them accessible to working professionals,' he adds."

Excerpt from The Globe and Mail -- "Aswath Damodaran, a professor of finance at New York University, likes to gauge the market by keeping tabs on the so-called equity risk premium, which he says is 'the one number that best sums up investors’ hopes, fears and expectations.' In more precise terms, the equity-risk premium is the expected extra return that investors demand over and above what they could get on safe government bonds before they will agree to buy stocks. Prof. Damodaran’s estimate of the premium at the start of June was 5.74 per cent, far higher than the norm of 4.07 per cent during the past half century."

Excerpt from Poets & Quants -- "...in January, 2014, after my first semester at NYU Stern, I was promoted from Associate Director to Director, U.S. Marketing Region, for Revlon, which significantly increased my account responsibilities. While I had already been on a high performance track, it was furthering my education at Stern, with a double specialization in Marketing and Leadership, which provided even more evidence to management that I would continue to go the extra mile to achieve any goal and that I was hungry to learn and do more."

Excerpt from Luxury Daily -- "'Having shifted away from mere marketing of products, most luxury brands have redirected their focus on marketing experiences,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'The best way to do that digitally is to create a 360-degree overview of the brand that highlights the processes of production, the people involved, the various stages outlined in bringing a concept to life and to the hands of the consumer and finally, the context within which it all takes place,' she said."

Excerpt from The Atlantic -- "And an interesting study shows that when leaders are fair to the members of their team, the team members display more citizenship behavior and are more productive, both individually and as a team. Jonathan Haidt at New York University Stern School of Business shows in his research that when leaders are self-sacrificing, their employees experience being moved and inspired."

Excerpt from TIME -- "[The presidential candidates] should have long ago ignored what the polls were saying and told us directly whether they believed the flag should continue to fly and why. Now they’ll never have to, claiming they were vindicated in allowing the state of South Carolina to make the “right” decision for themselves. These candidates should have acknowledged outright that the Confederate flag is a clear symbol of racism and hatred, the same type of racism that claimed the lives of those 9 people in the church."

Excerpt from NBR -- "Society gives [corporations] a license to operate by making certain concessions and accommodations to businesses. And they employ large numbers of people, affect large numbers of communities all across the globe. So, they are a part of civil society, and how they go about doing their business, how they create goods and services and how they market those services have a huge impact on society. So, it's not at all surprising that in the wake of this tragedy, the politicians have rallied very swiftly and the retailers have rallied to make changes that probably should have been made quite a long time ago."
 

Excerpt from Bloomberg -- "[Prime Minister Alexis Tsipras] will have a hard time... He has a majority of about 20 in the parliament. Probably more than 20 are going to defect. Other parties are going to vote for the deal, but not having enough majority in the parliament for himself means that he has to resign. ... The current setup cannot survive if [Tsipiras] loses the majority."