Experience Stern | News & Events

Excerpt from CNN -- "'Yes' is hope and a future for Greece in Europe. 'No' would mean Greece goes out of the Eurozone, possibly out of the EU. It's a very uncertain future for Greece, a very sad one, and in fact a very poor one...the vast majority of the Greek economists, not only in Greece but also abroad, have declared that it's best to go with a 'Yes.'"

Excerpt from NPR -- "And without functioning banks Greece's economy will grind to a halt. Economides says so far there has been some panicked buying of essentials like fuel and medicine. But if the banks stay closed, things will get much worse. 'As the banks are closed and people have a hard time importing stuff from abroad, very soon in a week, two weeks, three weeks, there will be shortages because merchants are not going to be able to import,' Economides says."

Excerpt from Marketplace -- "'If you're the film that gets in before the weekend, you begin to build buzz,' says New York University professor Al Lieberman, a former film and television marketer. 'It's out in the press immediately and on social media right away.' ...There are some risks of opening early. People are even more likely to spread the word about a movie they didn't like, Lieberman says, especially if they're a diehard fan who has stayed up until the wee hours to see it."

Excerpt from CNBC -- "'I've got clear evidence that the wage rates on TaskRabbit across every profession, are significantly higher than the Bureau of Labor Statistics average for the same profession,' said Arun Sundararajan, a professor at New York University's Stern School of Business. Sundararajan said because customers will rate a 'taskers' performance on the website, taskers who engage in things like plumbing, electrical work, editing or moving, can charge higher rates if they get good reviews. Those assessments then provide another benefit for a tasker, more jobs."

Excerpt from Bloomberg View -- "The ramifications of demerging would go beyond economics. 'Greece would become a small country in the Middle East,' Economides said. 'Instead of being in the center of Europe, it would be subject to the larger powers of the Middle East, in particular its biggest neighbor Turkey, which would be a national disaster.'"

Excerpt from BusinessBecause -- "There are also opportunities in marketing, according to Professor Thomaï Serdari, strategist in luxury marketing and branding at NYU Stern School of Business. 'The field of luxury marketing, as an academic and business discipline, is growing as the luxury market grows,' she said."

Excerpt from Bloomberg -- "[The referendum] was quite unexpected. I thought that the Greek government and the lenders were very close to an agreement and then suddenly, the Greek prime minister did not want to take responsibility for the agreement and instead called a referendum to throw the responsibility to the Greek people."

Excerpt from The New York Times -- "But a crowdfunding campaign to bail out a country seems to be a first, according to Anindya Ghose, a professor of information technology and marketing at New York University’s Stern School of Business, who has been researching crowdfunding for the past six years. 'It’s very unique,' Mr. Ghose wrote in an email. In at least one way, though, the campaign and the reaction to the crisis in Greece fit into what Mr. Ghose has seen in his research: Altruism is a key motivating factor inspiring people to donate."

Excerpt from The Wall Street Journal -- "For Greek New Yorkers, the crisis has both emotional and practical implications, said Nicholas Economides, an economics professor at New York University’s Stern School of Business. 'They are seeing a disaster unfolding in front of them, but they are far away,' he said. Because the banks are closed and withdrawals at ATMs are limited, there is no feasible way to send money to relatives living there."

Excerpt from The Washington Post -- "'Consumers are basically browsing and decision-making has moved online,' said Scott Galloway, a professor who teaches marketing and branding at New York University’s Stern School of Business."

Excerpt from Al Jazeera -- "The way out is for Greeks, who are overwhelmingly pro-Euro, to vote 'yes' and then have a renegotiation, hopefully with a different government in charge in Greece, with the creditors, and have a reasonable solution. Greece is not a crazy place. It's not a very poor place... Greece is not a third world country. Greece is in the center of Europe and can easily remain in the center of Europe with a 'yes' vote."

Excerpt from CNN -- "The problems of Greece is that if it goes to Grexit, it's going to be a total disaster mode... It's the most irresponsible government I've seen in Greece in decades. There is no concern about contagion in other countries; the problem is that Greece cannot even deal with its own problems... The full drama, the disaster is going to be in Greece and not the rest of the European Union."

Excerpt from LinkedIn -- "Since January 2015, 59 Greek businesses have closed down each day on average. Banks have hemorrhaged cash; since mid-December 2014, when elections were announced, more than €40 billion has been withdrawn by depositors. That includes more than €5 billion last week alone, and that was before Tsipras’ surprise announcement of a referendum announcement and subsequent capital controls. The true cost of shutting down Greek banks for a week are still too difficult to calculate, but it’s safe to assume it will cost Greece at least hundreds of millions of euros in lost economic activity."

Excerpt from Project Syndicate -- "Above all, most emerging markets are financially more sound today than they were a decade or two ago, when financial fragilities led to currency, banking, and sovereign-debt crises. Most now have flexible exchange rates, which leave them less vulnerable to a disruptive collapse of currency pegs, as well as ample reserves to shield them against a run on their currencies, government debt, and bank deposits. Most also have a relatively smaller share of dollar debt relative to local-currency debt than they did a decade ago, which will limit the increase in their debt burden when the currency depreciates. Their financial systems are typically more sound as well, with more capital and liquidity than when they experienced banking crises. And, with a few exceptions, most do not suffer from solvency problems; although private and public debts have been rising rapidly in recent years, they have done so from relatively low levels."

Excerpt from CNBC -- "The multi-month negotiation between Greece and the Europeans has not yet reached an agreement. The long negotiation has created unprecedented and unnecessary uncertainty that has brought the Greek economy to a standstill. Without an agreement, Greece will default in July within the euro or outside of the euro ('Grexit')."

Excerpt from CNN -- "No country ever pays back its debt - the United States doesn't, Britain doesn't, nobody does. What they do is service it - they pay the interest on it. And Greece is extremely likely to have most of its debt held by the European partners and by the stability mechanism; that debt right now has an interest rate of about 1.8%. So though it [the debt] is huge, it has a very small servicing cost and Greece can in fact service it. The crucial question for Greece is to get out of this cycle of asking for money, to reform its economy, to do well, to grow, and be able to pay the debt. I don't think there will be any problem whatsoever paying the money forever for this debt if Greece grows. So the crucial thing we should aim for in any agreement is how do we get the Greek economy to perform better, to be more competitive, to be in better shape compared to the rest of the world and be able to grow. Once we do that, once we get there, Greece will do great."

Excerpt from Bloomberg -- "'The probability of Greece leaving the euro, sadly, has only increased with this decision,' said Nicholas Economides, Professor at the Stern School of Business at New York University, in a phone interview."

Excerpt from the Financial Times -- "We have some advice that might help young analysts get through the initial two years: first, relax a little. Remember that the training is all about establishing a reputation for being professionally reliable, which means getting the work done accurately and on time ... Second, learn to handle chaos and disorder. ... Third, a tough training environment is going to have to be endured before you can really judge whether or not the work (and the career) is what you want." 

Excerpt from CNN -- "Unfortunately, the Greek government made such a crazy decision yesterday...it gambled with the whole future of Greece and let the decision be at the hands of the ECB and the Eurogroup. This, in my opinion was a totally irresponsible move. There was an opportunity to make a deal... Instead we're going through this crazy adventure of a referendum and the last referendum that happened in Greece was 40 years ago... it's very strange for the Greek system."

Excerpt from The New York Times -- "'It’s absolutely critical that they don’t sacrifice safety over speed of growth,' [Sundararajan] said, adding that a major car accident involving a HopSkipDrive vehicle, or an untrustworthy driver in the company’s ranks, could be catastrophic for the business. Creating a plan for such an event, the way some companies set up product-recall plans, would be wise, he said."

Excerpt from the Los Angeles Times -- "'People below the age of 30 are much more likely to identify with their mobile and computing devices than the cars,' said Arun Sundararajan, a professor of information, operations and management sciences at New York University. 'Autos just aren't the identity-making purchase that they once were.'"

Excerpt from Refinery29 -- "'Placebos work precisely because you expect them to have a particular effect,' Dr. Alter explains. 'There can’t be a placebo effect unless someone — or the text on a product label — suggests that it should have a certain effect on you.'"

Excerpt from The Globe and Mail -- "Aswath Damodaran, a professor of finance at New York University, likes to gauge the market by keeping tabs on the so-called equity risk premium, which he says is 'the one number that best sums up investors’ hopes, fears and expectations.' In more precise terms, the equity-risk premium is the expected extra return that investors demand over and above what they could get on safe government bonds before they will agree to buy stocks. Prof. Damodaran’s estimate of the premium at the start of June was 5.74 per cent, far higher than the norm of 4.07 per cent during the past half century."

Excerpt from Luxury Daily -- "'Having shifted away from mere marketing of products, most luxury brands have redirected their focus on marketing experiences,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'The best way to do that digitally is to create a 360-degree overview of the brand that highlights the processes of production, the people involved, the various stages outlined in bringing a concept to life and to the hands of the consumer and finally, the context within which it all takes place,' she said."