Experience Stern | News & Events

Excerpt from The BRICS Post -- "Mr. Modi has political capital to spend in India, and he ought to use some of it to winnow government subsidies, reduce protection of certain economic sectors, and to do all he can to increase basic competition in goods and services. Infrastructure and education are important too, but these take a long time to improve. The most immediate need is to get the growth rate back to a 9-10 per cent level."

Excerpt from NHK -- "It is possible that only those people that have bad credit who cannot get loans from banks are the ones who borrow from these platforms. And so, if I'm the lender, my risk is a high default rate."

Excerpt from Clear Admit -- "I think the surprise that people get when they experience Stern is that the culture is very collaborative, very diverse and very team based. We have people from all over the globe who come to Stern with diverse backgrounds and bring experience from a range of industries, from investment banking to entertainment to marketing to the military. But as different as they all are, what these people all have in common is that they respect one another and work together. We aim to shape our community with people who possess what we call IQ + EQ—the combination of strong intellectual and interpersonal strengths."

Excerpt from Business Insider -- "...Galloway’s basic premise is this: Everyone thinks the 'digital age' is a rising tide that will lift all boats. But really, it’s a shift in tides that favors a few super yachts and will leave everyone else stuck in the sand or worse. With this perspective, he examines the players in three arenas: Social media, retail, and the world economy."

Excerpt from New York Observer -- "Manhattan is home to some of the world’s most iconic skyscrapers. But despite its abundance of upward real-estate, a map created by Shlomo Angel shows the city actually has a lower population density as of 2010 versus 1910. Mr. Angel’s map comes from his book Planet of Cities, part of an upcoming New York Public Library presentation by the NYU Stern Urbanization Project and the NYU Marron Institute for Urban Management."

Excerpt from Forbes -- "Apple has become the ultimate symbol of luxury. And as the luxury sector has been the most robust part of the retail industry, particularly amid the nation’s vanishing middle class, the darling of the tech world is poised for explosion growth — particularly as it tip toes into upscale fashion accessories with its new smart watch, Scott Galloway, founder and chairman of L2 and clinical professor of marketing at NYU Stern, said during the conference. More than Cartier or Hermes, 'Apple is becoming the new indicator of wealth in our society,” said Galloway, who called Apple the hands-down winner today in the digital age."

Excerpt from Bloomberg View -- "Today's chart comes from a very interesting article on stock buybacks from Aswath Damodaran, a professor at New York University. He writes: This has been a big year for stock buybacks, continuing a return to a trend that started more than two decades ago and was broken only briefly by the crisis in 2008."

Excerpt from Reuters -- "'What we don’t know, or we feel like it varies, is whether the benefit comes from working longer hours, or not being able to turn off, working evenings and weekends, or from something else,' [Wiesenfeld] told Reuters Health. 'It could be there’s higher wellbeing, there could be creativity benefits too,' she said. Working parents have lower stress levels when they have the option to work remotely, she noted."

Excerpt from IT Business Edge -- "Panos Ipeirotis describes a similar, but much more complicated approach, in 'Crowdsourcing: Achieving Data Quality with Imperfect Humans,' which is available on YouTube. Ipeirotis holds a Ph.D. in computer science from Columbia and is now an associate professor and George A. Kellner Faculty Fellow for the Department of Information, Operations, and Management Sciences at Leonard N. Stern School of Business at New York University."

Excerpt from CityLab -- "'This increase in black entrepreneurship is unambiguously a good thing. Anything we can [do] to expand that is a good thing,' Seamans says."

Excerpt from Bloomberg -- "Some bondholders aren’t allowed to hold notes that are rated below a certain grade, which may cause some mutual funds to unload their holdings after a downgrade, according to Lawrence White, a professor at New York University’s Leonard N. Stern School of Business."

In an event co-hosted by Stern in Africa and NYU's Center for Global Affairs, Nigerian Finance Minister Ngozi Okonjo-Iweala will discuss the role the Private Sector can play in Africa's growth.

Excerpt from The Huffington Post -- "Though psychologists have studied virtually every human emotion, they have only recently begun to pay attention to the complicated and varied emotion of awe. In a foundational 2003 paper, 'Approaching Awe, A Moral, Spiritual And Aesthetic Emotion,' psychologists Dacher Keltner of UC Berkeley and Jonathan Haidt of New York University outlined how exactly awe works and what effect it has on us. Awe consists of two qualities, Keltner and Haidt say: perceived vastness (something we think to be greater than ourselves), and accommodation, a need to assimilate the experience of vastness into one's current mental structure."

Excerpt from Quartz -- "Managers tend to think that using a flexible schedule to be more productive is good—a sign of commitment to the organization—according to a study (pdf) from Lisa Leslie at the University of Minnesota. But when employees seek such schedules to accommodate aspects of their personal life, they see it as a sign of low commitment and dedication."

The Right Honourable Gordon Brown, former Prime Minister of the United Kingdom and NYU’s first Distinguished Global Leader-in-Residence, presented a talk entitled "Global Economic Problems, Global Solutions," to more than 100 graduate students from NYU’s Stern School of Business, Wagner School of Public Service and the School of Arts & Science this fall.

Excerpt from Business Insider -- "One Chinese supplier that works with a range of European and American buyers described how Uniqlo provided him with 18-month forecasts of order volume. If the company deviated by more than a certain percentage, Uniqlo would apologise and offer to compensate him for the lost production. Other buyers, in contrast, would simply cancel orders or reduce volumes with neither an apology nor the offer of compensation. The supplier said he never accepted monetary compensation when Uniqlo deviated from its order projections. The respect the company showed him and the long-term nature of the relationship were worth more than the money."

Excerpt from CNBC -- "In principle, a Scotland operating independently over time could kind of get it right. It's a small country. It could function effectively, like Sweden, but there's an enormous transition. First of all, you have a country that has 50% of the people, plus or minus, who think it's a bad idea and 50% who think it's a good idea, so this is a fairly badly divided country."

Excerpt from Montreal Gazette -- "'At the very least, the rule needs to be improved,' said Rosa Abrantes-Metz, an economist who investigates manipulations and cheating, when told of the section of Quebec’s Act Respecting Contracting by Public Bodies that allows provincial departments and agencies, hospitals, universities, school boards and other public institutions to exempt themselves from holding a public call for tenders when they award contracts over $100,000."

Excerpt from Business News Daily -- "Business leaders who consider their audience's perspective and who are conditioned to see the world from someone else's point of view produce the best outcomes, according to a study published recently in the journal Social Psychological and Personality Science."

Excerpt from Pacific Standard Magazine -- "Imagine you’re working your way through a list of chores—you might have to dust some bookshelves, vacuum the rugs, and sweep the floors. Probably you’ll check off one group—one category—of chores at a time. If you dust one shelf, vacuum part of a rug, and sweep a bit over there, you’re still left with more dusting, more vacuuming, and more sweeping, making your to-do list feel interminable... That intuition turns out to be correct, according to Anuj Shah and Adam Alter. In a series of seven experiments, they show that the average person will try to tick off categories of unpleasant tasks before moving on to the next. They’ll do the opposite for more enjoyable things. That way, there are more categories left to sample from—even if the number of things in those categories is the same, that makes it feel like the good times last a little longer."

Excerpt from CCTV -- "China's ecosystem, regulation, and government favors local players, so to seriously expand into the Chinese market, you need a big brother and basically by taking money from Alibaba, you get a big brother on the ground in China."

Excerpt from The Wall Street Journal -- "Policy makers and the public may wish for the comfort of certainty in their climate science. But I fear that rigidly promulgating the idea that climate science is 'settled' (or is a 'hoax') demeans and chills the scientific enterprise, retarding its progress in these important matters. Uncertainty is a prime mover and motivator of science and must be faced head-on. It should not be confined to hushed sidebar conversations at academic conferences."

Excerpt from Project Syndicate -- "The EU’s cohesion strategy is admirable and smart. Whereas such investment in the past was heavily tilted toward physical infrastructure – particularly transport – the agenda has shifted to a more balanced set of targets, including human capital, employment, the economy’s knowledge and technology base, information technology, low-carbon growth, and governance. That said, one can ask what the economic and social returns on these investments will be."

Excerpt from OZY -- "Ironically, central bankers’ renewed focus on the labor market exposes their limitations when it comes to helping the average worker. Current labor-market research tells us that sustainable wage increases don’t really depend on the Fed’s short-term interest rate decisions. Nor is any kind of long-term solution likely to come through an increase in the minimum wage. Better skills are the only way to produce sustainably higher wages — especially those skills that meet the demands of a globalized, tech-driven market."

On September 19 Brian Krzanich, CEO of Intel Corporation, joined Professor Michael Posner, Co-Director of the Center for Business and Human Rights, for a discussion on Intel’s conflict-free initiative in the Democratic Republic of Congo.