Experience Stern | News & Events

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."

Excerpt from Bloomberg -- "Sidney Homer and Richard Sylla, co-authors of the landmark 'History of Interest Rates,' noted that in the second half of the 19th century, the corporate debt of railroads tended to run to 50 or 100 years. One source concluded that two-thirds of all railroad debt issued in the 1890s ran 50 years or more."

Excerpt from Fortune -- "I think the shift is fundamentally good for the following reasons: We're moving the role of the individual from being a provider of labor or talent in exchange for a wage from the institution to actually being part owner. Being someone who runs a small business through an institution. So you go from working for a hotel to being an Airbnb host that's running a small business through the hotel. You go from driving for someone else as an employee to being an Uber driver. You go from working in a retail store to being an Etsy seller. So as the role of the individual shifts from being laborer to being owner, we're going to in the long run, reduce inequality because we're spreading the ownership of capital in society across a broader range of people."

Excerpt from Fast Co.Exist -- "'A state-based visa program would create a temporary work permit that would allow participating states to manage the flow and regulate the quantity of temporary migrants who want to live and work within their border,' write Brandon Fuller and Sean Rust for the CATO Institute, a think tank."

Excerpt from Politifact -- "'These are publicly traded companies,' said Lawrence White, an economist at New York University’s Stern School of Business. 'If Mr. Trump received a dividend payment, then he must have owned shares of stock in that company -- that is, he was invested in the stock market.'"

Excerpt from The Economist -- "'Trump is something other. Trump is bringing in emotions and concerns that were not well-represented on the traditional left-right scale before', says Jonathan Haidt, a social psychologist at New York University."

Research has shown that people are predisposed to believe men are more capable leaders than women, and women with assertive or dominant characteristics are often viewed in a more negative light than their male counterparts. New research from NYU Stern Professor Rebecca Schaumberg finds that this perception is reversed for female leaders who exhibit self-reliance – the capacity to self-govern and control their own outcomes.

Excerpt from MindfulMBA -- "A grounding in practical application is paramount for Kim, and her program’s offerings are designed to emphasize 'IQ plus EQ' — academic excellence and emotional intelligence — a combination Stern believes is critical for leadership success. For example, she and Shy collaborate frequently on events, merging MindfulNYU’s expertise in mindfulness techniques with the leadership lens of Mindfulness in Business."

More than 500 aspiring entrepreneurs from across the NYU student, faculty and alumni communities gathered in Paulson Auditorium for the 2016-2017 Entrepreneur’s Challenge Kick-Off on Wednesday, September 14.

Excerpt from BuzzFeed News -- "'In credit cards and other aspects of consumer banking, the model often relies on making money from fees that the customer isn’t paying attention to or is even aware of,' said Claudine Gartenberg, assistant professor at New York University’s Stern School of Business, to BuzzFeed News."

Excerpt from Forbes -- "Says Jonathan Haidt, Professor of Business Ethics at NYU and founder of Ethical Systems, 'Good people will do terrible things when people around them are even gently encouraging them to do so.'"

Excerpt from The New York Post -- "For Samsung, 'this PR disaster could not have come at a worse time,' says Anindya Ghose, a professor at the NYU Stern School of Business. 'It definitely gives a temporary edge to Apple, especially for any consumer who was sitting on the fence,' Ghose added."

The NYU Stern Salomon Center for the Study of Financial Institutions and The Clearning House hosted the Gallatin Lecture Series on Banking, on September 13, 2016.

Excerpt from Financial Times -- "'He’s a very prickly guy and a very proud man, prepared to take his last years and much of his fortune to try and prove himself right and the others wrong,' said Roy Smith, a professor at NYU Stern School of Business."

Excerpt from Fast Co.Exist -- "Research by N.Y.U. researchers Samuel Fraiberger and Arun Sundararajan last year found that ride-sharing has a 'disproportionately positive effect on lower-income consumers' mostly because poorer groups are more likely to switch from owning to renting."

Excerpt from The New Yorker -- "I spoke with Kermit Schoenholtz, a former chief economist at Citibank and now a professor of banking finance at the N.Y.U. Stern School of Business, and the co-author of an essential banking textbook. He told me that, since the beginning of the Great Depression, our system of bank regulation has relied on bank self-monitoring; it’s long been clear that government banking cops could never match the resources of the banks themselves. Each fine, then, serves two purposes: to punish the wrongdoing and also to warn all banks that they will pay a stiff price if they don’t root out such activity. But he warned me, 'The mechanism isn’t working.'"

Excerpt from The New York Times -- "Maria Patterson, who teaches business ethics and law at the Stern School of Business at New York University, said the state might be aided in court by the lack of a requirement to prove fraudulent intent, which is generally required in federal fraud cases. The state’s anti-fraud Martin Act, she said, 'is designed to deal with deceit that does not comply with standards of common honesty.'"