Experience Stern | News & Events

Excerpt from The Washington Post -- "New York University’s Langone part-time MBA program in the Stern School of Business also attracts a diverse array of students, according to Alison Goggin, executive director of MBA admissions. She mentioned a student who came from the beauty industry and now works for Google. A professional dancer recently applied as well. Another example was a doctor who wants to run his or her own practice or become a hospital administrator. 'You don’t have to have taken business classes or quantitative classes or come from a quantitative job to be admissible for the program,' she said."

Excerpt from The New Yorker -- "Ultimately, the mob myth depends on psychological distance, a term coined by the New York University psychologist Yaacov Trope to describe the phenomenon of mental distancing that takes place when we separate ourselves from events, people, emotions, or concepts. In some cases, that distance comes naturally. As painful events recede into the past, our perceptions soften; when we physically remove ourselves from emotionally disturbing situations, our emotions cool. In other cases, we need to deliberately cultivate distance—to 'gain perspective.' Trope likens it to the old cliché of missing the forest for the trees: you can wander around in the trees forever or, through training or external intervention, realize that you need to step back to see the full vista."

Excerpt from Reuters -- "'I wouldn't be surprised if GrabTaxi and Ola were also part of this partnership to bring India and South East Asia into the mix,' said Aswath Damodaran, an industry analyst and professor of finance at New York University's Stern School of Business."

Excerpt from Bloomberg -- "It’s unlikely that La’Zooz will displace such established companies as Uber and Gett because its decentralized nature and virtually nonexistent marketing budget could make it seem unreliable, said Arun Sundararajan, a business professor at New York University whose recent research has focused on the sharing economy. 'There are limits to how far a completely decentralized system like this could go,' he said. 'People will still pay for better logistics, a more trusted system—those are still things that are better done by a centralized platform.'"

Excerpt from Commercial Observer -- "'The CMBS market is very hot. I’m not sure why now would be the right time to' securitize leases, said Stijn Van Nieuwerburgh, director of the Stern Center for Real Estate Finance Research at New York University. Mr. Van Nieuwerburgh said that while securitizing commercial leases is theoretically possible, he fails to see the 'business logic' behind it and questions the appetite for these exotic investments."

Hundreds of aspiring entrepreneurs from NYU’s student, alumni and faculty communities gathered in Paulson Auditorium to hear about this year’s Entrepreneurs Challenge.

Excerpt from The Washington Post -- "The new labels will also include updated serving sizes to better reflect how much people typically consume. But this change may create a troubling unintended consequence: It could actually increase how much food people eat."

Excerpt from US News -- "'It's a complex global economic situation,' Nouriel Roubini, a professor at New York University's Stern School of Business and chairman of consultancy firm Roubini Global Economics, said earlier this month while attending an international economic conference in Italy. 'Certainly, China is slowing down. Emerging markets are slowing down. This has led to global financial market volatility – a tightening of financial conditions.'"

Excerpt from Institutional Investor -- "As the market continues to grow, nonbank originators have the potential to collectively create systemic risk. 'The biggest problem is that they are not banks, and they aren’t as heavily regulated, and our usual defenses of bank regulations and supervision and consumer protection aren’t as strong for those types of institutions,' says Van Nieuwerburgh."

Excerpt from Bloomberg -- "The debate showed that Mr. Tsipras believes that he was successful in the negotiation with the EU, despite the resulting capital controls, reversal of growth to a significant recession in 2015, and severe losses of the public’s money invested in Greek banks,' said Nicholas Economides, a professor of economics at Stern School of Business, in New York. 'Neither candidate committed on specific ways to adjust or modify the agreement and reduce its severity since it was signed at the worst possible point in time for Greece.'"

Excerpt from CCTV -- "It's important to note this is a very long-term enterprise for China. They started SOE reforms in the 1990s, shed something like 25 million jobs. So this is not something for 2015, but something we'll see moving forward. The government's target is for 2020. What they can do now is start to put discipline on managers, and that's why they're trying to increase the amount of shares in Chinese SOEs that are publicly traded. They think they can use that as a tool to... influence managers to focus on profitability and to be more efficient with their asset use... Everything they do on that side is going to be very handy for the Chinese economy."
 

Excerpt from BusinessBecause -- "'Companies like MasterCard are competing for talent with other companies in the traditional tech space such as Facebook, Google, LinkedIn, Amazon, and Microsoft,' says Roxanne Hori, associate dean of corporate relations at NYU Stern School of Business."

Excerpt from Bloomberg -- "Edward Altman, the New York University professor who developed the Z-Score method for predicting bankruptcies, says defaults will breach the historical high next year and the Fed is the 'wild card' that has the power to determine how quickly the current credit cycle ends. 'We’re somewhere in the eighth inning of a nine inning game, but the score is tied so there’s a chance for extra innings,' Altman told a group of investors and analysts at an event hosted by the New York Society of Security Analysts last week."

Excerpt from TIME -- "Unfortunately for Turnbull, Australia’s slowdown is not the result of mismanagement at home: It’s a problem made in China. The two countries signed a free trade agreement just three months ago, though Australia’s parliament has not yet ratified the deal. But the Chinese economy—and its demand for Australian iron ore and other commodities—now appears to be slowing faster than expected."

Excerpt from MarketWatch -- "Schoenholtz said he thinks the Fed will stand pat and try to reinforce the message that rate hikes could occur later this year. When the Fed hikes rates, it seeks to tighten financial conditions, he noted."

Excerpt from Hot Topics -- "As the people running formal entrepreneurship education globally, here are the top 100 professors of entrepreneurship cultivating the leaders of tomorrow."

Excerpt from TheStreet.com -- "'In order to invest wisely in the stock market as opposed to gambling, you need to base your investment decisions on information,' Bartov said. 'Even tweets by individuals who may not have any special knowledge or advantage may be useful.'"

Excerpt from The Economist -- "Progress on the rule of law has been much more halting. Business in China would clearly benefit from a move to a fair and transparent legal system. Michael Spence, a Nobel prize-winning economist at New York University, points out that such a reform would improve the enforcement of contracts, encourage new entrants and help reduce financial fraud."

Excerpt from The Wall Street Journal -- "Even as the globalization story continues, however, an even bigger one is starting to unfold: the story of automation, including artificial intelligence, robotics, 3-D printing, and so on. And this second story is surpassing the first, with some of its greatest effects destined to hit relatively unskilled workers in developing nations… offshoring is often only a way station on the road to automation… In more and more domains, the most cost-effective source of labor is becoming intelligent and flexible machines as opposed to low-wage humans in other countries."

On September 9, 10 and 11, Professor Arun Sundararajan attended the World Economic Forum’s Annual Meeting of the New Champions (‘Summer Davos’) in Dalian, China. 

Excerpt from Vanity Fair -- "'We have created an incentive structure where C.E.O.s want to be stars,' Damodaran explained. 'To be a star, you’ve got to be the next Steve Jobs — somebody who has actually grown a company to be a massive, large-market cap company.' But, he went on, 'it’s extremely dangerous at companies when you focus on the exception rather than the rule.' He pointed out that 'for every Apple, there are a hundred companies that tried to do what Apple did and fell flat on their faces.'"

Excerpt from China Daily -- "Arun Sundararajan, a professor at the Stern School of Business of New York University, said: 'China is the biggest potential market in the world for the sharing economy,' adding that sharing platforms will lead to an increasing number of new businesses."

Excerpt from Poets & Quants -- "For me, one of the big things I take pride in is research and publications. One of the first things we instituted after I became dean was the Stern Program For Undergraduate Research, which really enabled our students to get first-hand experience with research projects."

Excerpt from Luxury Daily -- "'Today, because of social media, which are otherwise powerful marketing tools, our attention span gets shorter and shorter,' Ms. Serdari said. 'It is much more appealing to get someone’s attention with a very short and well edited film and do that several times over a long period of time rather than invest in long films that no one has the time to watch...In 14 short seconds one is drawn into the pulsating crowd of paparazzi and celebrities...,' Ms. Serdari said. 'It all develops through Ferragamo’s own penetrating gaze. He went, he saw, he conquered. Today, the brand stands where he once stood.'"

The NYU Stern Salomon Center for the Study of Financial Institutions and The Clearing House hosted the third installment of the Gallatin Lecture Series on Banking on September 10.