Experience Stern | News & Events

Excerpt from The Wall Street Journal -- "Lawrence J. White, a professor at New York University's Stern School of Business, says the SEC should make information available to rating firms under 17(g)5 accessible to investors as well. Mr. White says incremental changes to rating-industry practices are far more likely than an overhaul. 'There wasn't going to be major change," he says. "It wasn't going to happen quickly. It's not going to happen now.'"

Excerpt from Fresh Outlook -- "I think retailers in general, especially retailers with a large physical presence, will benefit. I also think the very large online retailers such as Amazon have already compromised and are paying the taxes for the last couple of years and they also are better equipped to know all the details of every zip code and how much tax they should calculate and so on, so these are going to be the main beneficiaries."

Excerpt from Bloomberg Markets -- "The researchers looked specifically at the difference between what the banks paid creditors for borrowing money and what investors earned from owning U.S. government debt. They subtracted that number from the same measurement for smaller banks and, taking into account differences in risk unrelated to bank size, determined the value of the implicit government subsidy."

Excerpt from The Wall Street Journal -- "Three economists—Enrichetta Ravina of Columbia Business School, Luis Viceira of Harvard Business School and Ingo Walter of New York University's Stern School of Business—analyzed the holdings and trades of more than 260 ultrawealthy families between 2000 and 2009. The data came from an unnamed private company that consolidates account information for the wealthy."

Excerpt from Nightly Business Report -- "Every director gets one vote so at the end of the day splitting the roles doesn't change that dynamic and sometimes it's appropriate to split the roles if there's a transition in the CEO role or if the company is going through a certain event in its life -- a transaction, or new leadership -- there are specific instances where splitting the role can be very effective and helpful in arranging or facilitating a transition, but really it is not one size fits all. I think one of the good elements of our governance system is that we allow for different cases and different contexts to respond to the needs of the particular situation."

Excerpt from Bloomberg -- "I think one of the biggest problems that they're facing is that this introduction of the product has kind of damaged and threatened the golden goose within the organization, which is this Windows PC operating system business."

Excerpt from Bloomberg -- "BlackRock began a five-year branding campaign last year as it seeks to get investors back into higher-yielding assets such as stocks and expand its retail business. Fink has said clients need to diversify and can be harmed by staying in cash-like products. Earlier this week, he spoke at New York University’s Stern School of Business about the need for retirement-savings reform and creating a mandatory savings system."

Excerpt from CNN -- "If American and Western consumers want to help people get out of poverty, it is important for them to have a presence in countries like Bangladesh, according to Posner. 'The reality is there are four-million people, mostly young women, working in these factories in Bangladesh. They're often the only breadwinners in their families.'”

Bob Pittman, CEO of Clear Channel, will be the keynote speaker for NYU Stern's 2013 Graduate Convocation. Mr. Pittman will urge graduates to challenge the status quo and welcome constant change in order to succeed in today’s digital and global business world.

Excerpt from Fortune -- "'Markets look happy, but what is going on in the general economy is not,' says Roubini. 'We are stuck in a two-year boom and bust cycle. That's what I am most worried about.'"

Excerpt from Harvard Gazette -- "In research described earlier this year in the Personality and Social Psychology Bulletin, Elinor Amit, a College Fellow in psychology, along with two collaborators, Cheryl Wakslak and Yaacov Trope, showed that people increasingly prefer to communicate verbally (versus visually) with people who are distant (versus close) — socially, geographically, or temporally."

Excerpt from CNBC -- "Stocks aren't in bubble territory as yet, but a 'huge rally in risk assets' over the next two years puts markets in danger of a big crash, renowned economist Nouriel Roubini said on Tuesday."

Excerpt from TIME -- "NYU professor Nouriel Roubini, who correctly anticipated the 2008 financial crisis, has argued that Bernanke’s policies are failing to help the economy and are instead fueling a stock market bubble that will end in a financial crisis."

Laurence D. Fink, chairman and CEO of BlackRock and an NYU Trustee, spoke with NYU Stern MBA students and faculty on "Longevity in the Age of Twitter," highlighting how the retirement landscape has changed significantly over the past 50 years.

Excerpt from Fortune -- "'We're at a point now where the interest rate cycle makes it very difficult [for investors to save],' he said, during remarks delivered to a group of NYU Stern business school students. 'If you can no longer buy a 30-year bond with a 7% yield, how will investors achieve the necessary savings outcome?'"

Excerpt from Financial Times -- "Apple’s actions can be explained by two features of the tax code: its treatment of foreign income and its bias towards debt over equity."

Excerpt from Bloomberg -- "A so-called resolution authority for the repo market, to orderly liquidate repurchase agreements and prevent fire sales of underlying assets during periods of financial stress, was proposed as a way to reduce risks in March 2012 by New York University Stern School of Business professors Viral Acharya and T. Sabri Oncu in a paper presented at a Federal Reserve conference in Washington."

In new research forthcoming in Information Systems Research, Anindya Ghose, NYU Stern Associate Professor of Information, Operations and Management Sciences and co-Director of the Center for Business Analytics, with Gordon Burtch at the University of Minnesota Carlson School of Management and Sunil Wattal at Temple University’s Fox School of Business, quantifies how donors influence each other in the crowdfunding process, and finds that quick fundraising, while seemingly desirable, can have downsides.

Excerpt from Financial News -- "Of all the massive regulatory reforms adopted since 2008, Basel III is the main effort to constrain systemic risk. But considering the size of the markets and the major banks that dominate them, it may not be enough."

Professor Nouriel Roubini moderated a conversation with Eric Schmidt, executive chairman of Google, and Jared Cohen, director of Google Ideas, on their new book, "The New Digital Age: Reshaping the Future of People, Nations and Business."

Excerpt from The Daily Beast -- "According to Joseph Porac, George Daly Professor in business leadership at New York University’s Stern School of Business, superstar CEOs—executives who have amassed reputations, awards, and piles of press clippings—are on the shortest leashes. Over the course of their careers, about 15 percent of CEOs will be fired or pushed out."

Excerpt from Fast Company -- "'This lack of a delete button on the Internet is in fact a significant issue,' Schmidt said. 'There are times when erasure [of data] is the right thing...and there are times when it is inappropriate. How do we decide? We have to have that debate now.'"

Excerpt from The Wall Street Journal -- "In Equity Risk Premiums (ERP): Determinants, Estimation and Implications–The 2013 Edition, Aswath Damodaran, professor of finance at New York University, found that ERPs varied widely in short periods. In fact, implied ERPs ranged from 4.2% to a high value of 8% between September and late November 2008."

Excerpt from CNET -- "Cohen said that in the future, an ecosystem will evolve around protecting and monitoring people's online images. Meanwhile, Schmidt said that even with the proliferation of wearable devices, people will still have privacy. Each country will make a decision about how to address the issue, he said, and each nation's policy will be different. "

Excerpt from CNBC -- "As content has gone digital, Sundararajan said, content creators and publishers have changed the rules, which used to be guided by copyright law. Now they're determined by the endless contracts consumers never read but must assent to before buying a 99-cent tune. 'These contracts are more restrictive—they're really circumventing copyright law, and consumers don't seem to notice.'"