Experience Stern | News & Events

Excerpt from The Atlantic -- "According to the economist Thomas Philippon, total compensation of financial professionals, including profits, wages, salaries, and bonuses, is around 9 percent of U.S. GDP — about $1.4 trillion dollars. That’s up from below 3 percent of GDP in 1951. As compensation in the financial sector grows, though, there’s no sign that more finance is bolstering economic activity, Philippon finds."

Excerpt from Accepted.com -- "Stern is an incredible place. It may sound cliché, but my favorite thing about the program is my classmates. I have made friends and trusted colleagues for life in a little over a year’s time. That’s very difficult to do. I give a lot of credit to Stern’s admissions team for putting together an awesome and diverse class."

A group of industry professionals and Stern alumni gathered for a series of lectures and panel discussions as part of the 2016 Risk Management Symposium.

Excerpt from the New York Law Journal -- "'Nobody is going to be making grand speeches, as you might to a jury, because what's the point, this judge is presiding,' she said. 'He knows the story here. … What I would do is get the witnesses on, have them testify, and not do a dog-and-pony-show trial.'"

Excerpt from Fortune -- "'Financial information doesn’t move markets,' they conclude. 'Reported earnings are largely detached from reality, and no longer reflect the factors that create corporate value.'"

Excerpt from Bloomberg View -- "...the highly respected Xavier Gabaix of New York University has incorporated the idea into a new model."

Excerpt from Poets & Quants -- "'I’m just surrounded by energy and students who are excited about being at NYU,' says Barasch, who will teach a core Introduction to Marketing course to undergrads in the spring. 'But the real draw was Stern’s Marketing Department. It’s top-notch. It has some of the best researchers, the most published and well-known names.'"

Excerpt from The New York Times -- "'You can be a pioneer in the market and get surpassed by other things,' Professor Greenwald said. 'I think that’s partly what’s happening to them — their food safety problems coincided with all these new concepts like Cava Grill and Sweetgreen.'"

The NYU Stern Center for Global Economy and Business hosted a panel on The Big Short and Financial Reform on September 20, 2016.

Excerpt from Marketplace -- "Dhar said despite some recent crashes of semi-autonomous vehicles, driverless vehicles could end up being far safer than human drivers. 'There's a huge drag on the economy around accidents,' he said. 'There's 4 million injuries every year. Almost 40,000 people die.'"

Excerpt from CNBC -- "'Across the board I don't see a bubble but I see certainly some frothiness that is not justified by the fundamentals because the economy is barely growing 2 percent, earnings growth is slowing down and PE ratios are now above historical average,' the chair of Roubini Global Economics told CNBC's 'Closing Bell' on Tuesday."

Excerpt from Financial Times -- "'Technology is a tsunami that will radically change the face of financial services,' Prof Roubini said. 'The losers will be those companies that are not nimble enough to adopt the new technology — and a lot of them may disappear.'"

Excerpt from Forbes -- "Fluid software’s Expert Personal Shopper app (XPS) for The North Face, and 1-800 Flowers’ GWYN (Gifts When You Need) concierge powered gift recommendation engine, both use Watson technology to enable natural conversations on their sites, and understand location, temperature, gender, shopper use intentions and climate factors, to suggest the most relevant products to meet customers’ needs."

Stern's Business and Society Program will host Wayne Pacelle, CEO of The Humane Society and author of The Humane Economy, for a lecture and book signing on September 20.

Excerpt from Clear Admit -- "Since launching, the center also assembled its corporate advisory board, recruited a host of industry research scholars, hosted Unilever CEO Paul Polman on its campus and published the 'How Corporate America Can Support the Paris Climate Deal' op-ed in Fortune on Earth Day, April 22, 2016. Each important move reflects the center’s overall theme of 'A Better World through Better Business.'"

Excerpt from Livemint -- "The problem with loyalty programmes is that there are too many of them, they are undifferentiated (i.e. the benefits are similar so they don’t offer unique benefits), and difficult for consumers to use with some exceptions like airlines and hotels. The best way for companies to build loyalty is not through gimmicks but by investing in their brands by constantly innovating and offering clear value propositions to their target audiences."

On September 19, the NYU Stern Center for Sustainable Business welcomed David Arison, global businessman and philanthropist, for a talk entitled, "Doing Good Is Good Business."

Excerpt from IndustryWeek -- "'Until we learn how to assess the real effects of these trade deals, remembering that they take place in a mercantilist world…we should have no more of them,' he urged. Gomory joined several other TPP critics in warning against the agreement’s dispute settlement provisions that give companies the power to sue governments if the companies believe the governments have taken 'any step that hurts their profits.'"

Excerpt from The Economist -- "Pankaj Ghemawat, of the Stern School of Business at New York University and the IESE Business School at Navarra, Spain, calculates that America’s top 1,000 public companies now derive 40% of their revenue from alliances, compared with just 1% in 1980."

Excerpt from The Washington Post -- "Irving Schenkler, a professor of management communication at New York University, said that if the finger is pointed too sharply at lower-level workers, it 'could cause unintended consequences or backlash,' sparking disgruntled employees to come forward or current workers to lose trust in leadership. 'It could breed cynicism,' he said."

Excerpt from Mashable -- "Banks have experimented with the idea of equity versus debt in home financing for at least 25 years, according to Lawrence White, a professor at New York University's Stern School of Business who has studied mortgage markets. 'It wouldn't surprise me if anyone lending against somebody's castle or somebody's estate in 16th century England would have said, "Why don't I take a piece of equity and why am I lending?"' White said."

Excerpt from WNYC -- "'Where are JPMorgan Chase, where are Bank of America, where are Citigroup? These are aggressive lenders to the real estate sector. In most instances, they are leaders in lending to this sector, so where are they?' asked Roy Smith, a professor of finance at NYU's Stern School of Business. It could be that Trump has created a comfortable niche for himself, borrowing money from smaller local institutions instead of bigger banks, said Smith."

Excerpt from The Wall Street Journal -- "'If you took into account the interests of the collective welfare of all shareholders in the financial system, you’d cut back on dividends,' Viral Acharya, a finance professor at New York University and one of the study’s authors, said in an interview."

Excerpt from the Financial Times -- "Roy Smith, a former president of Goldman Sachs International and now a professor at NYU Stern School of Business, said: 'It is never a good idea to say that [you won’t pay] when you are dealing with the Justice Department.'"

Excerpt from Reuters -- "Look at the high-level data and it is easy to see why my assertion that the industry is too big and too self-serving is fair. The unit cost of a dollar of financial intermediation has remained about two cents for 130 years, according to data from Thomas Philippon, Professor of Finance at New York University."