Experience Stern | News & Events

Excerpt from The Economist -- "Remarkably, they find that people pay a premium of 10%-15% less for 100-year leaseholds and 5%-8% less for leaseholds of between 125-150 years. Only for leaseholds of 700 years or more do they detect no difference in price. On the whole, they reckon, a discount rate of about 2.6% appears to apply out well beyond a century. Oddly enough, people are willing to part with real money now in exchange for benefit flows accruing well beyond any reasonable expected lifespan. That won't make it any easier to generate the political support for meaningful action to slow climate change. But it does make it harder to justify delay based on the fact that people simply don't care much about the distant future."

Excerpt from Fox Business -- "I think fundamentally it's a story of economic growth and technological progress stimulating economic growth. The term 'sharing economy' is sometimes misleading because, at the heart of this, this is pure capitalism. It's markets, it's free markets, it's pricing, it's... people transacting with other people. And so when there's this kind of disruption, special interests or established interests do sort of step in and use what they can to sort of try and make sure that the interests that they have are preserved."

Excerpt from Financial News -- "Markets will continue to grow. But the key players in it, as they always have, will change. Big, systemically important banks will have their role to play, but a universe of smaller, less-regulated, non-systemic non-banks will be the source of much of the innovation and energy that sustain the markets."

Excerpt from AdAge -- "But releasing an app pits brands against the commandeering forces of social media and games. 'Unless you have something that's an incredible application in terms of utility, it's just a tree falling in the forest,' said Scott Galloway, a marketing professor at NYU. 'No one hears it.'"

Excerpt from Financial News -- "The study, Evasive Shareholder Meetings by Yuanzhi Li of Temple University and David Yermack of New York University, was published recently by the US National Bureau of Economic Research. It investigated the relationship between where and when US companies held their AGMs in the five years to the end of 2010, and the trends in their share prices in the six months after the meeting. When companies held meetings 1,000 miles away from their headquarters, the average cumulative stock returns over the next six month were -3.7%. For companies that held their AGMs at least 50 miles from their headquarters and 50 miles from a major airport, the average abnormal stock performance over the six month was -6.8%."

Excerpt from Yahoo! Finance -- "In the second stage of the research, New York University’s Dr Adam Alter studied 500 first and last names of US lawyers. He found that those with the most pronounceable names were promoted faster than their unusually named counterparts, even though they had comparable skills and experience."

Excerpt from Fashionista -- "'We have seen a great decline in brand presence on Tumblr, which is a negative forward looking indicator for the platform,' Scott Galloway, founder of digital luxury consultancy L2, says."

Excerpt from Harvard Business Review -- "There’s more to progress than technological innovation. Breakthroughs can also result from innovations in management. Past work by another economist, Paul Romer, helps make the point. He explains that the history of progress is a history of two types of innovation: Inventions of new technologies, and introductions of new laws and social norms. We can make new tools, and we can make new rules. The two don’t always march in lockstep. In a period of time where one type of innovation flags, the other type can sometimes forge ahead."

Excerpt from CNBC -- "It is now more than five years since Fannie Mae and Freddie Mac were ignominiously put into conservatorships and became wards of the U.S. government — at a cost of $188 billion. They have continued to function during these five-plus years, and have even become profitable again. But it is long past time to give them a decent burial — and also to make sure that clones don't spring up to replace them."

Excerpt from TIME -- "Here’s why there is good reason to be confident that China will do well over the next year or so: The leadership under Xi Jinping has actually engaged in transformational economic reform without the specter of urgent crisis. Leaders rarely undertake difficult projects when circumstances don’t absolutely force their hand (and even then, those responses begin to recede along with the threat itself). That’s what we saw with the Eurozone sovereign debt crisis, and with financial reform in the U.S."

Excerpt from BedTimes Magazine -- “'Any organization that’s only embracing incremental change is in a dangerous position,' said Williams. 'That path is getting narrower and narrower, until at the end, the customer has forsaken you for someone else that you didn’t even see coming.'”

Excerpt from Fortune -- "Roubini said the European Union and the Euro were looking a lot stronger than a year ago. He also said 'Abenomics' appears to be working in Japan, and the risk of a recession has receded there. But the biggest improvement, Roubini thought, is taking place in the U.S. The deficit has shrunk and Washington appears to have called a truce."

Excerpt from The New York Times -- "Even as the case continues, Arun Sundararajan, a professor at New York University’s Stern School of Business, said he would like to see Airbnb and lawmakers find a way to come up with [a] new set of guidelines that distinguish between occasional users of the service and those who are doing it on a much larger scale with multiple apartments. 'We need a new regulatory framework that is reasonable and inclusive of providing this new form of short-term accommodation commercially,' he said."

Excerpt from Reuters -- "If the United States' primary goal has been to keep violence in Ukraine and tensions between outside powers to a minimum, it has made a series of significant missteps. The United States failed to offer real economic support to the Ukrainian government before events reached a crescendo."

Excerpt from The Huffington Post -- "In The Righteous Mind: Why Good People Are Divided by Politics and Religion, Haidt explains, 'Intuitions come first, strategic reasoning second.'"

Excerpt from US News -- "'The GDP – its bottom-line, short-term estimates are incredibly noisy, and for that reason, people tend to see the GDP recovers more quickly than employment, so that hasn’t served so well,' Backus says."

Excerpt from The Economist -- "Pankaj Ghemawat, of Spain’s IESE and NYU’s Stern business schools, calculates that only 12% of the world’s Fortune Global 500—the largest corporations by revenue—are led by a CEO who hails from a country other than the one in which the company is headquartered."

Excerpt from Fox Business -- "I think it's actually a perfect fit. I see complete synergy between the brands because, when you think about it, the actual guy who designed the headphones used to be the head of design at Apple... People have to stop thinking about Apple as a technology company now and start thinking of them as a fashion and a lifestyle brand... They're also the disruptors... they wouldn't go and acquire someone who's just copied them. And if you look at what Beats did, they're the complete opposite to Apple. So Apple's coming out with these little light headphones, they came out with these big heavy bass headphones. Apple was coming out with something very subtle you hardly see, they were coming out with something very obvious."

Excerpt from The New York Times -- "Professors were more responsive to white male students than to female, black, Hispanic, Indian or Chinese students in almost every discipline and across all types of universities. We found the most severe bias in disciplines paying higher faculty salaries and at private universities."

Excerpt from Harvard Business Review -- “'Retailers are all using scanner data to track what happened at the point of sale,' says Sam Hui, an associate professor of marketing at NYU’s Stern School of Business. 'But they have no idea what’s really happening at a point-of-purchase decision.'”

Excerpt from CNNMoney -- "'Quits going up is a sign that people have more confidence in their ability to find another job,' says Tom Cooley, an economics professor at New York University's Stern School of Business. However, Cooley adds that this report's relatively small change in people quitting their jobs is fairly insignificant because tiny fluctuations are often within the margins of error."

Excerpt from The New York Times -- "'To position it as a status symbol, as something you buy to impress other people, doesn’t make sense,' [Meyvis] said. 'Other people don’t see it. You don’t talk about it. It makes more sense for mattress advertising to take a functional approach that provides a solution to a problem,' as the ComforPedic iQ campaign does, he said."

Excerpt from Quartz -- "During the period of growing disparity of incomes and wealth described by Piketty, this differential between financial sector wages has increased by a staggering amount. Thomas Philippon and Ariell Reshef, find that, 'that rents accounted for 30% to 50% of the wage differential between the financial sector and the rest of the private sector.'”

Excerpt from Bloomberg -- "The process for initial offerings has been evolving for centuries. Among the first IPOs in America was in 1791 for the Bank of the United States, started by Alexander Hamilton. The offering, made through newspaper advertisements, allowed the public the right to purchase a share for $25. 'In the early days of the U.S., there wasn’t such a developed investment-banking industry,' said Richard Sylla, chairman of the Museum of American Finance and an economics professor at New York University Stern School of Business."

Excerpt from CNBC -- "I think it's a great company. I was actually surprised by how much money the company makes. It's just a phenomenal moneymaker."