Experience Stern | News & Events

Excerpt from NBC -- "J.P. Eggers, an associate professor at New York University’s Stern School of Business, compared the phenomenon to pop-up stores, increasingly popular in high-traffic areas where rents are high. A seasonal shop in a vacation location has little value once visitors go home, but real estate costs remain high for a store in a place like Brooklyn, he noted. 'The idea of leaving it with either no business because it’s closed or with a business that is just not going to make any money at that time of day or in that season just doesn’t make any sense,' he said. 'It’s far too valuable a property to do that.'"

Excerpt from Fortune -- "Last week, the Federal Communications Commission (FCC) formalized the non-discrimination tradition on the Internet and preserved net neutrality. This is good news to ensure that the Internet remains a free market for innovation and provides consumers with unbiased choices when it comes to content."

The NYU Stern Center for Global Economy and Business welcomed Sheila Bair, former chair of the Federal Deposit Insurance Corporation, for a talk and Q&A session.

Excerpt from Quartz -- "There is no such thing as a real conversation over email. Period. The back-and-forth of emails and text messages offer the appearance of intimacy. Unfortunately, it’s a false one, as Justin Kruger of New York University and Nicholas Epley of the University of Chicago proved. The two psychologists showed that people could only accurately determine sentiment in text-based communications about half of the time."

Excerpt from The New York Times -- "Thomas Philippon, a finance professor at New York University’s Stern School of Business, is another academic who has studied the role of finance in the economy. In a November 2012 article in The Quarterly Journal of Economics, Mr. Philippon and Ariell Reshef, an economist at the University of Virginia, reported on wages in the United States financial industry from 1909 to 2006. Among their findings: Finance accounted for 15 to 25 percent of the overall increase in wage inequality between 1980 and 2006."

Excerpt from Project Syndicate -- "Over time, of course, negative nominal and real returns may lead savers to save less and spend more. And that is precisely the goal of negative interest rates: In a world where supply outstrips demand and too much saving chases too few productive investments, the equilibrium interest rate is low, if not negative. Indeed, if the advanced economies were to suffer from secular stagnation, a world with negative interest rates on both short- and long-term bonds could become the new normal."

Excerpt from The Economist -- "A recent paper* by Uma Karmarkar of Harvard Business School and Bryan Bollinger of Duke Fuqua School of Business finds that shoppers who bring their own bags when they buy groceries like to reward themselves for it. For two years the authors tracked transactions at a supermarket in America. Perhaps unsurprisingly, shoppers who brought their own bags bought more green products than those who used the store’s bags. But the eco-shoppers were also more likely to buy sweets, ice cream and crisps."

Excerpt from Fox Business -- "When you're talking about economic growth, it is innovation that's the driver of that growth. So the way you increase growth, you have to have a vested increase in increasing the pace of innovation. And the way you increase the pace of innovation is increase the exchange of ideas - or between different industries. So, New York has a tremendous advantage because it's not just tech.... you know, fashion, media... it's all mixing of ideas."

Excerpt from Business News Network -- "I think that when we, nowadays, have so much electronic trading, and we have guidelines on what type of collaborations among competitors are allowed, having five competitors chatting live in a way that is not disclosed to the market on what the prices of gold, on which they have a variety of derivatives benchmarked on, and at the time when they themselves are trading for their clients and their own books, and nobody is monitoring... and ensuring that this process is robust, that is extremely problematic. It's very problematic also because we do see the patterns in the data."

Excerpt from The New York Times -- "If this era of war ever ends, and we emerge from the slumber of automated killing to the daylight of moral questioning, we will face a reckoning. If we are honest with ourselves, the answers won’t be simple."

NYU Stern announced that Peter Henry, an economist and dean of the School, was awarded the Foreign Policy Association Medal at the organization’s annual Financial Services Dinner, held last evening at the Pierre Hotel in New York City.

On Friday, February 27, the NYU Stern Private Equity Club will host its 10th Annual Stern Private Equity Conference.

Organized by NYU Stern’s Citi Leadership & Ethics Program and Business & Society Program, with generous support from the Citi Foundation, the 2015 conference featured this year’s Distinguished Citi Fellow in Leadership & Ethics Tensie Whelan, president of the Rainforest Alliance and NYU alumna (BA ’80), as well as global business leaders, funders and the managing director of a Rwandan Specialty Coffee Company.

Excerpt from HuffPost Live -- "I do think that there are some merits to allowing states to have a say in directing the flow of immigration because they understand local costs imposed by immigrants... and also the benefits. I think one advantage that the state-based visa would have, for example, over an employment-based visa is that the immigrants themselves would have more flexibility within the states. So they'd be able to work for any number of different employers. That would create a thicker labor market, which would, of course, benefit employers as well. So there would be a higher potential for good matches between employers and workers. In the existing system, if you take, for example, the H1B specialty employment visa, it ties a worker to one employer. So you don't have that kind of labor market flexibility, which is ultimately detrimental to the immigrant and the economy and the labor market."

Excerpt from Financial Times -- "'Something of this magnitude is rather unusual,' said Joshua Ronen, professor of accounting at New York University Stern School of Business and co-editor of the Journal of Law, Finance and Accounting."

Excerpt from The Guardian -- "In contrast, the Fair Labor Association launched its code alongside its charter. 'We realized we couldn’t just launch a set of principles,' Michael Posner, a former US assistant secretary of state for democracy, human rights and labor and head of New York University’s Center for Business and Human Rights, told me. 'It couldn’t just be that every company was "on a journey"; we needed metrics and ways to evaluate compliance.'"

On Thursday, February 26, NYU Stern's Management Consulting Association (MCA) and Strategy & Operations Club (SOC) will co-host the 5th Annual Strategy Forum. This year's conference is themed "WINNING: Business Strategy in Sports."

Excerpt from BusinessBecause -- "Students on Stern’s master in business analytics program, which filled its class of 60 and closed the admissions process a month early, also 'get their hands dirty' with programming language. 'We are teaching the managers [and] executives who need to understand the language of analytics and how to leverage data to make strategic decisions,' said Roy Lee, Stern's assistant dean of global degree programs, in an interview with BusinessBecause."

Excerpt from The Wall Street Journal -- "Nicholas Economides, an economics professor at New York University, says paid prioritization would let ISPs pick the Internet’s winners, which would naturally be the richest players. 'In an industry with lots of change and innovation, there are big dangers of allowing only the people who can pay you today to win,' he said."

Excerpt from Luxury Daily -- "'Not all brands need be patrons of the arts but luxury brands most often are,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York. 'Traditionally, luxury objects have been items of great craftsmanship and artistic intent, often made of the most precious and rare materials — in fact, most of the luxury objects produced in pre-modern times are housed in renowned museum collections today.'"

The NYU Stern Berkley Center for Entrepreneurship and Innovation will welcome alumni, angel investors, venture capitalists, entrepreneurs and industry innovators to the 2015 New Venture Showcase and Reception on February 25.

Excerpt from Forbes -- "The Harvard Business School Case, El Bulli: A Taste of Innovation, provides business lessons from the way Ferran Adria innovates (the Catalan chef, thought by many to be the most creative chef in history) and it truly changed my life. Ferran’s methods inspired both my book, Catalyzing Innovation and innovation program for global executives, Inventours™, and it made me far more observant of how others innovate across industries, wherever I go. Given how much I learned by studying Ferran, I thought learning how the best 'mixologists' innovate could yield similar insights, given the art and entertainment form inventive craft cocktails have become."

Excerpt from CKGSB Knowledge -- "[Economides's] models suggest that even small network effects can help a good company realize high profits, more sales and greater profits, and the stronger the effect, the more likely that the company will be able to achieve a monopoly position. 'If we have a network, we will see a lot of inequality among companies, which means that some people are going to make a lot of money,' he says."

Excerpt from BusinessBecause -- "Offered jointly by Stern and NYU’s law school, the course covered topics such as bitcoin as an investment and the trading of bitcoin, and the legal and regulatory treatment of the currency. It ran from September to December 2014. 'We are exploring a new technology that raises interesting questions about the nature of money and how that is likely to change in the future,' said David Yermack, a finance professor at Stern who created the course with law school professor Geoff Miller."

Excerpt from Bloomberg -- "It's a great time to be a writer, someone who's trying to greenlight a script. There's going to be more original scripted series this year than, I think, in the history of television. It's just not a great time to be in the business of selling eyeballs on an ad-supported model. HBO, great business. Netflix, great business. Amazon media might be a great business. Trying to get a ton of people to show up and then selling commercials to beer companies, that's going to be a difficult business."