Experience Stern | News & Events

Excerpt from NPR -- "So this was an anticipated ruling from the EU in deciding whether Uber was a digital platform or a transportation service. They came down on the side that Uber is a transportation service just like a traditional taxi service or a black car service. What this means is that all Uber drivers will have to be professional drivers. In all likelihood Uber's relationship with its drivers will have to change from contractors to them being full time employees and so it dramatically changes Uber's cost structure if it wants to operate in different European cities."

Excerpt from Quartz -- "'I will keep an eye out on startups that focus on various applications of AI, for example, in healthcare, banking, and education sectors,' Ghose said. 'I will also look out for startups that can use data from wearable devices to advance the treatment of chronic diseases, startups that use facial recognition for basic security, those that use deep learning for image processing, startups focusing on the internet of things, cloud technologies and the intersection of telecom players and ad-tech.'"

Excerpt from Bloomberg -- "It certainly will be good for corporate America, I am not sure how much of that will feed through to the broader economy. The theory has always been that if you allow the corporates to bring that stash, that cash that is stashed overseas, back to the United States, that they will invest in capital investment, they will boost economic growth, they will pass that off in increased wages to their employees. But what we have observed in the past is that when companies do bring that cash back from overseas, they generally tend to use it to pay dividends to their shareholders or to engage in share buybacks."

Excerpt from Poets & Quants -- "In naming an insider to succeed Henry, NYU is going with a highly talented and well-liked professor who has been behind some of the more innovative changes at Stern in recent years. He is also yet another example of a highly successful Indian-born scholar who has moved up the ranks to head one of the world’s best business schools, following in the footsteps of Nitin Nohria at Harvard Business School, Sumatra Dutta at Cornell’s SC Johnson College of Business, and Sri Zaheer of the University of Minnesota’s Carlson School of Management."

NYU President Andrew Hamilton and Provost Katherine Fleming today announced the appointment of Rangarajan “Raghu” Sundaram as Dean of the Leonard N. Stern School of Business, one of the nation’s leading business schools.

Excerpt from The Economist -- “A company pursuing an innovation strategy based on acquisitions will appear more profitable and asset-rich than a similar enterprise developing its innovations internally.”

Excerpt from Bloomberg -- "It makes sense for CLSA to reduce its reliance on institutional broking, but success in areas like asset management isn’t guaranteed, said Roy C. Smith, emeritus professor of management practice at New York University’s Stern School of Business. 'Whether they can pull this off depends on the firm’s ability to execute a major business and cultural transformation,' he said."

Excerpt from WalletHub -- "Recessions tend to start after the Fed fights rising inflation by increasing interest rates. Interest rates are abnormally low now, so I see the Fed moving to normalize them at a faster pace in 2018. That could dim the economic outlook for 2019. ... [The Federal Reserve Open Markets Committee will raise its target rate in 2018] three times, and 2.25 percent."

Excerpt from NPR -- "I really think that one of the big public policy challenges of the next couple of decades, as I discuss in my book, is coming up with a new funding model in the United States and the UK, I was in japan last week they are facing the same problem, where we get away from this idea that the corporation is responsible, the employer is responsible for the bulk of the safety net and we come up with alternative ways because honestly in a couple of decades the majority of the workforce is not going to be full-time employees."

New York University’s Stern School of Business named its new one-year Technology and Entrepreneurship MBA in recognition of a significant gift from alumnus Andre J.L. Koo (MBA ‘94), Chairman, Chailease Group, and his wife, Jana. The Andre Koo family’s gift will support the School’s new MBA program, which will enroll its first class in May 2018.

Excerpt from The New York Post -- "Aswath Damodaran, professor of finance at New York University, said, '[Nakamoto’s] on his way to being a billionaire now. He kept more than 10,000 bitcoins.' And he’s not surprised by the creator’s low profile: 'Bitcoin was designed by paranoid geeks for paranoid geeks.'"

Excerpt from Poets & Quants -- "'Right from the get-go, people come in knowing fully well that global is a big part of what we do. And they start thinking about it from the freshman year,' Menon says. ... 'One of the things we’re really against is being a tourist,” Menon explains. “That’s not what it’s about. It’s about education. We take the coursework really seriously.'"

Excerpt from Politico -- "But Paul Hardart, a marketing professor at New York University’s Entertainment, Media and Technology program in its Stern School of Business, said he expected Fox to have 'less entertainment content in the near term.' Sports and news have been the main pillars holding up cable and broadcast television, he said, as the two types of programming viewers typically watch live and can’t fast-forward through commercials on. Murdoch, he said, is 'playing to his strengths.'"

Excerpt from the Chicago Tribune -- "'Consumers who participate in the sharing economy just have to come to terms with the idea that this isn't like getting a service from a large, branded company,' explained Sundararajan. 'The responsibility for providing the service is split between the platform (e.g., Turo or Airbnb) and the provider (the individual renting out the product), and people need to get comfortable with who's responsible for what.'"

Excerpt from Bloomberg -- "The work should yield some of the first pieces of guidance on the rules in the next couple of months, as disagreements over unanswered questions are hammered out through the FASB Transition Resource Group on Credit Losses and American Institute of CPAs forums, [Frederick, partner at PricewaterhouseCoopers LLP] Currie said in a Dec. 4 roundtable discussion by the Ross Institute of Accounting Research at the New York University Stern School of Business."

Excerpt from CFO -- "'It’s extremely important for investors to understand where topline growth comes from,' he said. 'Foreign exchange is mainly beyond managers’ control. Volume is clearly under managers’ control. Price effects are generally long-term, while M&A is frequently transitory. Some companies provide a partial breakdown of these effects, but there’s nothing secret about this information.'"

Excerpt from Glamour -- "Mrs. Obama was pretty uniquely adept at mixing items from the Gap with higher-priced couture to appeal to everyone from millennials to middle-class moms. Consumers could imagine themselves in her clothes, which is harder to do with actresses you see on the red carpet…. she also changed designers frequently and had absolutely no favoritism with what she might wear on a given day."

Excerpt from CNBC -- "'It's basically young people saying they have no faith in our institutions,' Galloway told CNBC's 'Squawk Alley' Tuesday. 'As we lose faith in institutions, it goes up.'"

Excerpt from Bankrate -- "When you use plastic, you’re liable to spend more than when you just fork over cash. One study by Priya Raghubir and Joydeep Srivastava, published in the Journal of Experimental Psychology: Applied, found that participants spent 21 percent more preparing a Thanksgiving dinner when they used a credit card ($175) compared to cash ($145)."

Excerpt from Bloomberg View -- "Our empirical findings support the hypotheses, showing that ambiguity significantly affects stock market returns. That is to say, investors act as if they consider the degree of ambiguity when they price financial assets. The findings provide strong evidence that individuals exhibit ambiguity aversion to favorable returns and love for ambiguity for unfavorable returns."

New York University Stern School of Business Professor Nicholas Economides is available to provide commentary on the current state of net neutrality leading up to and after the Federal Communications Commission’s (FCC) scheduled vote this Thursday, December 14th, 2017.

Excerpt from Global Finance -- "The financial case for sustainability is the high correlation between good environmental and social governance performance in a company and good stock performance, lower cost of capital and better operational performance. We don’t really know why, because companies are not tracking the ROI on their sustainability investments; although they do track operational efficiencies like energy savings."

Excerpt from The Wall Street Journal -- "Mr. Brenner, a early pioneer of volatility research whose work was profiled in The Wall Street Journal in March, and Mr. Izhakian are turning the concept into a gauge of current market conditions that they hope will be useful for market watchers. They came up with the measure by analyzing market returns in five-minute increments. Their research is due to be published in the Journal of Financial Economics."

New York University Stern School of Business has named Richard Berner, currently the first Director of the Office of Financial Research, as the first Executive-in-Residence of the School’s Center for Global Economy and Business, effective January 1, 2018. Berner will also serve as an adjunct professor in the Department of Economics. 

Excerpt from the Golf Channel -- "If we take an amateur golfer who plays five rounds of golf a week over a two year period, the chance of getting sixty holes in one is less than one out of one trillion to the tenth power. He has a better chance of getting twenty straight royal flushes if he plays poker. It is basically impossible."