Experience Stern | News & Events

Excerpt from Bloomberg -- "The Fed actually is very rule-like in its behavior. It thinks about rules all the time. But they're not slavish, and that's important because they realize there are factors other than a simple rule that should govern monetary policy."

Excerpt from Marketplace -- "I think there's a real concern that the ACA, the Affordable Care Act, will get reversed, and that will have a significant impact on the desirability of being a sharing economy provider."

Excerpt from Business Insider -- "The researchers — New York University's Alixandra Barasch, the University of Chicago's Emma E. Levine, and the Wharton School's Maurice E. Schweitzer — came to their conclusions after conducting a series of studies to test the link between the magnitude of positive emotions people display and others' perceptions of them."

Excerpt from Nightly Business Report -- "There's been a growing sentiment in terms of economic research in jobs and job growth that we've reached a point where technology is no longer creating as many jobs as it destroys. We've had this long history of technology destroying certain jobs but at the same time creating different jobs that use different skills. But we may have reached this point where the balance is tipping in the other direction."

Excerpt from The Hollywood Reporter -- "'Severance is an insurance policy. In the entertainment business, you are putting a product out there that requires imagination. It's inherently risky to be in a creative business,' says compensation expert David Yermack, a professor at NYU's Stern School of Business. 'And you want to provide a safe landing for those you are firing without cause. It's a signal to the next group of managers that you will take care of them.'"

Excerpt from KSCJ -- "Hamilton was absolutely crucial in setting up our financial system... the national debt, the dollar, the first central bank, banking systems, stock markets and corporations.. Hamilton was the key person in giving us that right from the beginning of our history."

Excerpt from The Guardian -- "Dishonesty hurts a brand’s reputation as well as sales, said Tülin Erdem, a business and marketing professor who specializes in brand reputation management at New York University’s Stern School of Business. Welspun’s shares dropped by nearly 43% in the week following the announcement from Target, which was the manufacturer’s second largest customer and accounted for $90m, or 10% of the company’s business, in the fiscal year that ended in March. Retailers play a part in ensuring consumers get what they’re paying for. Although it can be difficult to track every manufacturer’s claim, retailers have a responsibility to take action promptly when they suspect dishonesty, said Erdem."

Excerpt from Nightly Business Report -- "...there are several things that companies can and often do do in these situations. The first thing is to do what Ford and Apple did which is to try to remind the American people they create a lot of jobs here in the U.S. and they are good citizens here in the United States. Another thing that companies often do is they will speak directly to policymakers to try and shape how they think about the kinds of problems and decisions they have to make. And so, it doesn't surprise me to see Bill Ford pick up the phone and to try and speak with President-elect Trump."

Exceprt from the Harvard Law blog -- "Our research shows that companies that also think about their stakeholders when they strategize about their business operations can effectively prevent stakeholder mobilization that escalates into reputational crises. To this end, the same process used for managing employees, suppliers and customers should be applied to managing stakeholders more broadly defined, including local communities, NGOs and activists, mayors and local councils, governments and regulatory agencies."

Excerpt from WalletHub -- "I would strongly encourage consumers to read the 'fine print' on these deals. Some will say the deal is only good for the specific model (stock keeping unit or SKU), and the deal is only good for existing stock. Some may say you can get a "rain check" for when they come back in stock."

In pursuit of a deeper strategic understanding of how big data increases competitive advantage, 70 energetic business analytics students traveled to Shanghai for a key module in their MS in Business Analytics (MSBA) program.   
 

Excerpt from Business Insider -- "'Whether an iPhone is going to go up in price $10 or something is a small issue,' Wachtel said. 'If President Trump starts putting tariffs on electronic goods, does that begin to wreak havoc on the global electronics industry? Now you're talking a real issue.'"

Excerpt from MarketWatch -- "It was apparent from the panel discussion on 'Recent trends in non-GAAP reporting' last week, which was hosted by New York University’s Stern School of Business and included MarketWatch’s Transparency Reporter Francine McKenna and SEC Associate Director Kyle Moffatt, that regulators are starting to turn the screws."

Excerpt from WealthTrack -- "[Theodore Roosevelt] was very independent and a lot of the republican leadership didn't trust him. The republicans were the business party. Teddy Roosevelt was a trust buster and so he kind of alienated some of his own party by pursuing large corporations and breaking them up. They thought a good republican president should be pro-business... so he was somebody who bucked the center of his party."

Excerpt from Knowledge@Wharton -- "Mobile marketing is a powerful approach. Other forms of advertising... can't really come close to matching. But the reality is, in the digital world, a lot of folks find advertising on mobile devices annoying or intrusive and they strongly dislike these ads that ruin their browsing or consumption experience. But the reason this happens is twofold. One is: brands don't have enough information about consumer preferences, so they're showing them a bunch of ads, like throwing darts in the air, hoping one will stick. But in return, what happens is people get overwhelmed and annoyed by those offers and they tune out. So the solution here is figuring out an optimal balance where the number of offers should be less frequent than what it is right now and should be more relevant and targeted. And that's where I ... talk about this two-way communication between consumers and brands. If consumers are able to share more information about themselves, then brands are going to be able to use mobile as a concierge and as a butler, but not as a stalker."

Excerpt from The New York Times -- "'Through this new technology, people are now empowered to express their grievances and to follow people they see as echoing their grievances,' Mr. Bremmer said. 'If it wasn’t for social media, I don’t see Trump winning.'"

Excerpt from Bloomberg View -- "What this means is that, so long as liquidity in the underlying assets backing the ETF is sufficient, the APs will execute an arbitrage that keeps the market price of the ETF close to the net-asset value of the underlying portfolio. But, during periods of market stress, should it become difficult to trade underlying assets, investors wanting to sell their shares may have to settle for prices below the NAV. That is, those who want to sell may have to do it at a discount. Put another way, when markets are liquid, ETFs operate like open-end mutual funds; but should markets become illiquid, ETFs then operate like closed-end funds. As a consequence, ETFs face no run risk."

Excerpt from Inc. -- "Sundararajan adds that Uber should also be concerned about investors pressuring the company to go after profit prematurely, say, by filing for an initial public offering. It's still in the company's best interest to remain private for a while longer, he says. That way, the NYU professor insists, it can make a greater leap into autonomous vehicular transportation. 'Investors have to realize that [Uber is] really going after a bigger pie here. They have to lose money to gain market share,' he says."

Excerpt from VoxEU -- "...we propose studying the implications of converting a rapidly growing class of open-end mutual funds into ETFs. If the SEC is to undertake a ‘root-and-branch review’ of the ETF industry (Financial Times 2016), it ought to consider it in the context of the mutual fund industry as a whole, allowing for the serious possibility that – relative to mutual funds holding illiquid assets – ETFs could reduce systemic risk."

Excerpt from Bloomberg View -- "Ghemawat is dubious of this digital-takeover angle. 'If you looked back to the 1930s, information flows probably kept rising then, too,' he told me when I visited his NYU office last month. His overall take was that on the whole, while things had slowed down since the 1990s and early 2000s, global integration was still fitfully increasing. 'We're neither inevitably headed for a great reversal or a renaissance,' he said."

Excerpt from SFGate -- "'The story that is being told is that people take units off the long-term rental market to rent them on Airbnb,' Sundararajan said. 'It’s a story that resonates with a lot of people. But if you look at the data ... it is very clear that if there is any effect that Airbnb is having on the availability of long-term rentals, it is very small compared to the effects of rent stabilization and population growth.'"

Excerpt from Vox -- "So what do we do now about our multiethnic democracy? Do we try to assimilate and emphasize our similarities, or do we celebrate differences and endorse multiculturalism? This is exactly what we need to debate and discuss as a country, and my vote is firmly for emphasizing assimilation, similarity, and unity — this, I think, is the best way to have a multiethnic democracy."

Excerpt from The New York Times -- "The program was intended to reward people for putting money into the United States. Projects that raised more than $1 billion were practically nonexistent in the program before 2010, Prof. Jeanne Calderon of New York University’s Stern School of Business wrote in a March report on the program. But when banks turned off the credit spigot around the 2008 financial crisis, developers started getting more creative in finding alternative financing."

U.S. Securities and Exchange Commission (SEC) actions against public companies or their subsidiaries (public company–related defendants) outpaced the overall growth in enforcements over the last four fiscal years. SEC actions targeting these defendants in FY 2016 increased 130 percent from FY 2013, compared to a 61 percent increase in all independent or stand-alone enforcement actions.

Excerpt from The Chronicle of Philanthropy -- "Brothers Lorenzo Fertitta and Frank Fertitta III donated $15 million to endow a new program for active-duty U.S. military members and veterans entering the business school’s MBA program next year. Lorenzo Fertitta earned an MBA from the Stern School in 1993 and runs Zuffa, a sports-promotion firm that specializes in mixed martial arts. Frank Fertitta is chief executive of Station Casinos. The brothers own both companies."