Experience Stern | News & Events

As part of the School’s Leadership Luncheon Series, coordinated by the Leadership Development team, students had a chance to hear from NYC real estate investor and developer Larry Silverstein, president and CEO of Silverstein Properties; Stephen Sadove, chairman and CEO of Saks Inc.; and Captain Jamie Peace, veteran of the United States Marine Corps.

Silverstein described the master plan for rebuilding the World Trade Center site, a $20 million project with an expected completion of 2016, which includes the first Leadership in Energy and Environmental Design (LEED) certified tower in the City. He warned students about the inherent obstacles of public-private partnerships, and shared several pieces of advice for those that dare to embark on such projects:

• Be dedicated to your work
• Never lose sight of the “public good”
• Develop a thick skin to weather the storms

Having witnessed a great deal of turmoil throughout his career at General Foods, Clairol and most recently Saks Inc., Sadove shared his perspective on how to run a business through turbulent times. First and foremost, he advised students to treat everyone with respect and to care about the individuals in an organization. He stressed, “Leadership creates the culture of an organization; culture drives innovation and people; and innovations and driven people produce results.” It’s vital, he said, to change a “me/they” culture to a “we” culture of collaboration to get the best results.

Peace shared some lessons learned after serving in Iraq and Sri Lanka as an officer in the United States Marine Corps. He warned, “It’s not too hard to be a good leader, but it’s very easy to be a bad one.” Reflecting on several experiences from his time leading a team of Marines, he advised:

• Humility is key; don’t be afraid to own up to your mistakes
• Empowering subordinates is the fastest way to develop trust within a team
• Lead by example
• Take care of your team; passing accolades along to deserving team members goes a long way
• Timely decisions that are “good enough” are better than perfect decisions that are too late
• There’s a fine line between arrogance and confidence; always have a back-up plan
• Keep the end goal in sight at all times

“Being located in New York City and having access to leaders in their field is part of what makes NYU Stern so unique,” says Tiffany Youngker Rufrano (MBA ’11), who attended the Silverstein event as co-president of Stern’s Real Estate Club. “Meeting a well-respected, senior real estate professional like Larry Silverstein, and hearing insights on how he’s navigated the ups and downs in his career is invaluable.”