Experience Stern | News & Events

Excerpt from The Week -- "If all the factors responsible for the massive decline of the newspaper industry, Craigslist, the internet's free classifieds page, has long attracted a big share of the blame. So it's no surprise that a new study by Robert Seamans of New York University's Stern School of Business and Feng Zhu of the Harvard Business School seems, on its face at least, to back up the blame-Craigslist argument. What is surprising is the actual numbers. Analyzing how 1,000 newspapers reacted to the rise of Craigslist from 2000 to 2007, the professors estimated that classified ad buyers saved $5 billion by posting free listings on Craigslist instead of buying ads in newspapers. The obvious corollary here is that newspapers lost the $5 billion that consumers saved, and saw their classified ads business — one of three longstanding revenue pillars, along with circulation revenue and more traditional ads — all but decimated."

Excerpt from Forbes -- “A new study by two business school professors examined the issue and concluded that, indeed, Craigslist took a giant bite out of newspapers’ revenues — some $5 billion between the years 2000 and 2007. And that’s not even looking at the Times, the Wall Street Journal or USA Today, which the authors left out in order to have a more homogeneous sample. 'Our study definitely suggests that Craigslist has had a huge effect on newspapers,' says Robert Seamans, an assistant professor of management and organizations at the NYU Stern School of Business. Coauthored with Feng Zhu of Harvard Business School, the paper will be published by the journal Management Science."

Excerpt from Bloomberg TV -- "Boards are meant to be assets, not liabilities and recently [the JCPenney board] has become a liability. They need to just get out of the way of the CEO, be supportive of the process, and let those good people try and get back to work on what is a very, very challenging position for JCPenney. They're kind of stuck in the middle. This is a difficult time for JCPenney."

In a new study, Robert Seamans, assistant professor of management and organizations at the NYU Stern School of Business, and Feng Zhu at Harvard Business School, examine the impact of Craigslist, a website providing classified-advertising services, on local US newspapers during the 2000s.

Excerpt from Bloomberg TV -- "They say a picture is worth a thousand words and a video is worth a million words. So as we've gotten more broadband, more technology and more ability to deliver great content and also get great content from our users, these visual platforms and video platforms have really taken root. And what's exciting about them is advertisers love them. A video is a fantastic emotional, very visceral medium, so they attract dollars, and these platforms are going to where the dollars are."

Excerpt from MarketWatch -- “'[The High Line has] had a deep impact, but it was facilitating a transformation that was already happening,' says Joseph Foudy, an economics professor at New York University’s Stern School of Business. 'Cities around the world are going to have to be very careful about what neighborhoods can actually be transformed.'”

Excerpt from Minnesota Public Radio -- "Some of these new sharing economy companies are sort of like the rental business on steroids. You used to rent a car for a day, now you can rent it for an hour. There are bike share programs where sort of a fleet of bikes is provided by the city, like in Minneapolis or CitiBike in New York City now, which has gained tremendous popularity over the last few months. But the more interesting models are actually the ones like airbnb and RelayRides where the sharing is person-to-person, so it's not a company that is providing a suite of apartments or a fleet of cars, it's individuals saying, well, if I own something that other people can use, here is a marketplace on which I can actually commercially lend it to them. So we're not creating a whole new set of assets that are then shared by people."

NYU Stern’s Berkley Center for Entrepreneurship and Innovation recently hosted a new workshop series entitled, "Lean Startup Summer Boot Camp." The five-session series explored human-centered research, divergent thinking and problem solving to validate or invalidate startup or product ideas early on.

Excerpt from Bloomberg TV -- "What Greece needs is a certain amount of money that it will be free to invest and that needs to be found somewhere. And in my opinion, the best way to get this money is to get a grace period from the European Union of 3-5 years and not pay interest on the inter-government loans for those years and these loans are $5-6 billion in interest per year so if Greece takes this money and invests it in infrastructure projects, then you will see suddenly the unemployment rate go from 26 or 27% down at least ten points so you won't fix the whole unemployment problem of Greece, but you'll fix, very significantly, parts of it."

Excerpt from the Village Voice -- "New York University economist Arun Sundararajan calls PAVE's investment-based model one 'whose time has come.' He predicts that soaring debt will not only drive students to seek alternatives to college—most notably Massive Open Online Courses—but to consider alternate forms of financing their education."

Excerpt from CKGSB Knowledge -- "Durairaj Maheswaran, the Paganelli Bull Professor of Marketing at New York University’s Stern School of Business, sees the globalization of companies in terms of a 'Five C' model of competitive advantage. In simple terms, this model examines how a company’s core benefit, competition, culture, corporate structure and country of origin impact its globalization strategy."

Professor Russ Winer, chair of NYU Stern’s Marketing Department, along with Stern PhD student Stephanie Tully, examine the willingness to pay for socially responsible products in their new paper, "Are People Willing to Pay More for Socially Responsible Products: A Meta-Analysis."

Excerpt from San Jose Mercury News -- "'It's a groundbreaking new economic paradigm,' said Arun Sundararajan, a professor at New York University's Stern School of Business who studies digital economies. 'This isn't just a recession-era phenomenon. It's a technology-driven change.'"

Excerpt from Bloomberg TV -- "CBS has more customers now. We're basically price takers with Time Warner Cable or whatever you have in New York. You have to take whatever they offer you and every year your bill's gone up more than inflation, and you ask yourself, has there really been any innovation? There's been so much innovation on our phone, very little innovation around the TV. I think what you're going to see here with TV is that less is more, and then people are going to have the opportunity for the first time to pick the 10 to 15 to 20 channels they actually watch and just pay for those channels, similar to what happened with music and iTunes."

Excerpt from All Things Digital -- "A study conducted by NYU think tank Luxury Lab (or L2) stated that 35 percent of “prestige brands” were active on Vine, while the same report said about 26 percent of those prestige brands were experimenting with Instagram video."

Excerpt from Bloomberg TV -- "The study we did at NYU shows that less than 3% of the traffic that brands and retailers who were generally large advertisers in any medium...less than 3% of the traffic they're getting is actually coming from social media versus 33% for search. So, placed in context, social media isn't having as large an impact as originally thought on the business world."

Executive MBA students from the Class of 2013, along with family and friends, gathered at Pier Sixty at Chelsea Piers to celebrate their scholastic achievements at a Graduation Celebration.

Excerpt from CCTV -- "I wouldn't say [investors] are being driven out of India. They're pausing a little bit at the present moment and that's because of a number of political factors, for the most part, and some economic factors. There's a huge consumption demand because we have a rapidly growing middle class which wants the same sorts of things that middle-class people everywhere in the world want and so there is an attractive market opportunity."

Excerpt from The New York Times -- "We must ask those who would repeal Obamacare how they propose to solve the adverse-selection problem. That problem is not an abstraction invented by economists to justify trampling individual liberties. As experience in most countries around the world has confirmed, it is a profound source of market failure that renders unregulated insurance markets a catastrophically ineffective way of providing access to health care."

Excerpt from BBC Capital -- "Tax-haven status can be a real boon for countries without natural resources, a large industrial base or significant tourist income. If a company has a large office in a tax haven, there can be a big benefit for the local community, from jobs to better infrastructure that’s built to support the needs of multinationals, said Damodaran."

Excerpt from Reuters -- "Too much style drift can be a worrisome sign, says Marcin Kacperczyk, an assistant professor at New York University's Stern School of Business who studies mutual funds. Though some managers end up with big company stocks because of short-term liquidity issues, 'it's a big red flag that makes you wonder what else the manager is doing.'"

Excerpt from Westchester County Business Journal -- "Last September, Gambardella enrolled in New York University’s Langone Master of Business Administration Program for Working Professionals, which is administered at the SUNY Purchase campus. Gambardella has kept a full-time job while taking businesses courses in leadership and organization, statistics, firms and markets, accounting and marketing while employed full-time at her company."

Excerpt from CCTV -- "At this point, given this very very high unemployment, the European Union has to set some money aside to help Greece, Spain and Portugal create jobs, especially Greece. And I think one way to do it is to allow Greece not to pay interest for a few years on the loans that it owes to the EU area countries."

Excerpt from LiveMint -- "What a unified regulator allows you to do is take a very holistic view on the system, not just a banking view or insurance view or a markets view. A unified regulator typically does consist of representatives from these different regulatory agencies and they all come together and can take a holistic view. The downside is that if this unified regulator becomes in some sense the authoritative regulatory figure, then you might see very little regulatory innovation, which is often necessary because as the institutions change, as the markets change, the regulators have to evolve their policies and usually this works much better with a decentralized regulator than with a single central regulator."

Excerpt from The Washington Post -- "Today, corporate profits account for 12 percent of GDP, while net investment has shrunk to 4 percent. When Asker, Ljungqvist and Farre-Mensa looked into this anomaly, they unearthed a startling fact: While publicly traded firms devote 3.7 percent of their total assets to investment, comparable privately owned firms devote 6.8 percent. Using a new database that provides more information on more privately held firms than had previously been available, the economists discovered a problem at the heart of this nation's shareholder version of capitalism."