Experience Stern | News & Events

Excerpt from The Washington Post -- "Five years ago, G-20 leaders pledged to cut fossil-fuel subsidies. They now must redeem that pledge. Setting a timetable for phasing out all subsidies for fossil-fuel exploration would be smart economics. It would also establish the G-20 as a credible force in international efforts to secure an ambitious global deal on climate change."

Excerpt from Vox -- "Given the scale of the crisis, understanding the dynamics of the Eurozone is a major challenge for macroeconomics today. We argue that we need a quantitative framework to identify these various mechanisms, their relations and, ultimately, to run counterfactual experiments. This is what we do in a recent paper (Martin and Philippon 2014)."

Excerpt from Mashable -- "'It really becomes a question of what are you pricing it against,' Damodaran told Mashable in an interview. Snapchat may not be worth $10 billion to investors by itself, but if the market already values Twitter at $30 billion-$40 billion, then the Snapchat valuation may make more sense. 'Twitter, after all, is not that far ahead of Snapchat,' he argues."

Excerpt from CNBC -- "'Even if growth, inflation and employment data are at the right level to start hiking, the Fed would like to wait a little bit longer just to make sure that if they start hiking with the liftoff, they're not going to abort and go back to zero because otherwise they lose their credibility,' he said."

Excerpt from OZY -- "Investors have to be accredited in the U.S., which generally limits the pool of possible investors to the top 1 percent. Now? About the top 5-10 percent of the population can buy their way in, estimates NYU’s Stern Business School professor Anindya Ghose."
 

Excerpt from The Wall Street Journal -- "Pankaj Ghemawat, global professor of management and strategy at the New York University Stern School of Business and a co-author of the survey, says that improving connectivity between sub-Saharan African nations—enabling more efficient movement of people, goods and information across borders—would make a vast difference to the continent’s economic prospects."

Excerpt from Financial News -- "It would be momentous and unprecedented for the Fed openly to force a bank to break up. But the power to do so under Dodd-Frank is certainly there, though the process is complex and can be appealed. Dudley’s cultural workshop may actually be less about culture and more a blunt warning to those banks the Fed considers to be moving too slowly in transforming themselves into the well-managed entities it wants. Those banks know who they are. As Dudley says, they need to 'get on with it'."

Excerpt from Financial Times -- "In the adverse scenario of the ECB stress tests, capital adequacy is 5.5 per cent of risk-weighted assets while our measure is 5.5 per cent of total quasi assets. When risk weights do not adequately reflect risk, which has been widely observed for both European and US financial reports, then this measure of capital adequacy can be highly misleading. In an earlier study, Acharya, Engle and Pierret ('Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights', Journal of Monetary Economics, 2014), we found that risk weights were negatively related to conventional measures of firm risk."

Excerpt from Luxury Daily -- "During the '"7": The Forces Shaping Prestige in 2014' session, L2 Think Tank boss Scott Galloway pointed out that Apple’s acquisition of CEOs from Burberry and Saint Laurent indicates that the brand is forcefully moving toward the luxury sector. The founder also warned that luxury brands will begin to face increasing disruption from outsiders."

Excerpt from the New York Post -- "It was a 'solid continuation of past progress,' according to New York University economics professor Joe Foudy, who said the highlight was that employment gains were scattered over 'a mix of industries.'"
 

Excerpt from Daily Mail -- "Roubini reckons hinting at that famous Chinese economic 'bubble' that credit fueled investment, will result in more bad assets for the banks and shadow banks, more bad investments in real estate, infrastructure and excess manufacturing capacity and more non-performing assets in the public sector."
 

Excerpt from The Huffington Post -- "...the biggest worry of all should be the most important person in the room. The reaction of that one person to your presentation is probably going to be the biggest factor in whether or not your presentation will be successful at accomplishing your goal. And that's true whether there are two people or 20 in the room."

Excerpt from Poets & Quants -- "At Stern, mindfulness is the buzzword. The school is teaming up with NYU’s Center for Global and Spiritual Life to incorporate mindfulness in business leadership. Caitlin Weaver, Stern’s director of Leadership Development, says the shift to incorporate mindfulness training in the leadership program is two-fold—to increase decision making ability and to improve the the health of students."

Excerpt from WIRED -- "Coding education has taken off in recent years, driven by reports that the demand for quality programmers in America is drastically outpacing the supply. So everyone from the White House to Google has jumped on the coding bandwagon. Meanwhile, bootcamps have sprung up across the country. But the challenge is there’s no way for employers to know that the so-called graduates of these programs are any good. 'They’re new. They don’t have track records, so it’s hard to look at a person who’s graduating and evaluate and screen them,' says Prasanna Tambe, an NYU professor specializing in IT work force."

Excerpt from The Wall Street Journal -- "Professor Altman’s research found that serial bankruptcy filers had a significantly worse financial profile than the average sample of reorganized companies—whether measured in terms of corporate liquidity, solvency, profitability or leverage. Moreover, he predicted that serial filings would likely increase in the context of the increased predilection of investors and other stakeholders to focus Chapter 11 activity and reorganization plans on financial re-engineering, as opposed to operational performance improvement, of the distressed business."

Excerpt from mbaMission -- "In this competition, Stern and Kanbar students develop short films based on the sponsor’s specifications regarding content, length, and brand message. The films are judged by a panel of advertising and marketing executives, and the winning teams are given access to the resources of partnering media, entertainment, and communications companies to assist in screenplay production. The finished films—which are debuted at New York’s Tribeca Film Center—may be used by the sponsoring brand as part of the parent company’s advertising campaign."

Excerpt from Washington Monthly -- "Economist Thomas Philippon found that financial services themselves have become less, not more, efficient over this time period. The unit cost of financial services, or the percentage of assets it costs to produce all financial issuances, was relatively high at the dawn of the twentieth century, but declined to below 2 percent between 1901 and 1960. However, it has increased since the 1960s, and is back to levels seen at the early twentieth century. Whatever finance is doing, it isn’t doing it more cheaply."

Excerpt from Straits Times -- "No president can sustain an expensive, ambitious foreign policy without reliable public support. In America, that support is no longer there - and unless there is another major terrorist attack on US soil, it isn't coming back in the foreseeable future."

Prospective doctoral candidates are invited to attend an Open House to learn more about the Stern PhD Program and meet Stern faculty and current PhD students.

Robin Hayes, current President and incoming CEO of JetBlue Airways, joined MBA students and alumni for a 2014-2015 Langone Speaker Series event. 

This year’s GMA conference, "Glocalization: Reaching Local Consumers on a Global Scale," will tackle the question of how brands in today’s interconnected world maintain their core identity, while also striving to make that identity universal and relevant in local markets.

Excerpt from Quartz -- "Looking ahead at the future of Ferguson after the events of recent weeks, it seems certain that the overwhelming African-American majority will press for empowerment in municipal affairs. This transition needs to come with a parallel effort to strengthen the municipal economy."
 

Excerpt from Harvard Business Review -- "But what many economists generally gloss over is a notion that I will argue is highly complementary to market failures: management failures. For policy-making purposes economists assume that all businesses act rationally in the pursuit of profits. The possibility that that might not be the case is generally ignored, or even when mentioned, quickly finessed."

Excerpt from CCTV -- "I think [Mario Draghi] will act. He said he's expected to buy assets. He hasn't said he's going to buy something specific, but he says he is expected to, and he also said that it's a unanimous decision. So he's pushing in that direction, but I think that there is resistance from Germany, and we'll see how it turns out. We're not sure."

Excerpt from The Wall Street Journal -- "Through data collected from 1984 to 2013, New York University Professor Edward Altman found two factors are most indicative of a debtor filing again: its profitability upon its first emergence and its leverage. The data reveals that for recidivist debtors, their financial profiles upon exiting their first bankruptcy tended to resemble that of other firms as they entered bankruptcy—namely too much debt and too much leverage. This data supports what restructuring professionals have experienced anecdotally. Sometimes a plan is premised on the best available recapitalization structure, which is not necessarily the right structure."