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Faculty News

Stern in the News: August 2010

In August, NYU Stern generated nearly 900 media hits. Stern faculty were featured for their perspectives on a number of topics including the threat of a double dip recession, the financial reform bill and the economic recovery in a variety of prominent media outlets including Bloomberg, the Financial Times and Forbes. Additionally in some 30 op-eds, Stern faculty offered their perspectives on the floods in Pakistan and banking reform, and shared lessons from the Great Depression.

Please continue reading for news highlights from August 2010.

Faculty Research & Accolades

FIU.edu: “Google Research Award Goes to Vagelis Hristidis”
August 31, 2010

Professor Panagiotis Ipeirotis was mentioned for his $70,000 award from Google Research, which will focus on developing technologies that facilitate the exchange of information.

Antitrust & Competition Policy blog: “Broadband Openness Rules are Fully Justified by Economic Research”
August 30, 2010

Professor Nicholas Economides’ research on broadband openness rules was featured.

ScienceDaily: “Location Determines Social Network Influence, Study Finds: Number of Connections Less Important Than Proximity to Core”
August 29, 2010

Associate Research Scientist Lev Muchnik’s research, which found that someone located at the core of a social network has the most influence, was highlighted. Additional coverage appeared on MediLexicon.com.

Investment Weekly News: “New Findings in the Area of Financial Studies Published”
August 28, 2010

Professor Holger Mueller’s research on CEO compensation, showing that reducing incentive pay is a better method of inducing less effective CEOs to quit rather than paying severance, was highlighted.

Marketing Weekly News: “New Quantitative Marketing and Economics Study Findings Recently Were Reported by Researchers at New York University”
August 28, 2010        

Professor Tülin Erdem’s test for distinguishing between internal reference price theories was referenced.

Billboard: “Six Names Likely Mentioned in Google’s Search for Music Chief”
August 27, 2010

Professor David Ellner was highlighted as one of the top choices to head Google’s digital music division.

The Daily Telegraph: “Lehman Brothers’ Art Auction Offers Glimpse Into the Secret World of Corporate Collecting”
August 23, 2010

An NYU Stern study showing that investing in the stock market is more profitable than art was featured.

Examiner.net: “Fink: History and Math versus Ideology”
August 23, 2010

Professor Amity Shlaes’ book, The Forgotten Man, was featured.

The Wall Street Journal: “Diets that Don’t Work: Where Enterprise Resource Planning Goes Wrong”
August 23, 2010

Professor Sinan Aral’s book, Generating Premium Returns on Your IT Investments, was highlighted.

Barron's: “A Big Say on Big Pay”
August 21, 2010

Professor Fabrizio Ferri’s research on CEO compensation, which showed that the Dodd-Frank bill is likely to forge a closer link between performance and pay, was highlighted.

The Wall Street Journal blog: “Number of the Week: Bankers Keep Getting Richer”
August 21, 2010

Professor Thomas Philippon’s research on bankers’ salaries, which showed that in 2006 wages in finance were 70 percent higher than other professions, was featured.

The New York Times: “McCain Looks to Complete a Comeback”
August 20, 2010

Professor Scott Galloway’s study on ranking senators by their ‘digital IQ’ was referenced. Additional coverage appeared in Newsweek, New York Magazine, Bloomberg TV, Fox NewsWNYC, TIME, CNN.com blog and 28 other outlets.

The New York Times: “News Briefs”
August 18, 2010

Professor Eric Dinallo’s campaign for New York State Attorney General was highlighted. Additional coverage appeared on The New York Times blog, The Wall Street Journal blog, Reuters, eight The New York Observer pieces, three New York Post pieces, three New York Daily News articles, four New York Daily News blogs, Associated Press, Crain's New York Business two WNYC pieces, Portfolio.com and 41 other outlets. He was also highlighted for his help in winning a $35 million settlement for Bear Stearns in City Hall.

NPR: “Applying Academic Formulae to Scripts Could Weed Out Hollywood Duds”
August 17, 2010

Professor Sam Hui’s research on predicting box office performance from movie scripts was referenced.

Forbes.com blog: “Investing Strategies for Low Inflation”
August 16, 2010

Inflation data collected by NYU Stern, which showed previous periods of low inflation and slow economic growth, was referenced.

HedgeFundsReview.com: “Morgan Stanley Offers Ucits III Event Driven Hedge Fund”
August 16, 2010

Professor Peter Schoenfeld was featured for his hedge fund’s (PSAM) relationship with Morgan Stanley. Additional coverage appeared on Opalesque.com, CityWire, Telegraph.co.uk, BobsGuide.com, Forexyard.com and FINalternatives.com.

The Independent: “Take Shorter Breaks More Often for the Happiest Time Off”
August 15, 2010

Professor Tom Meyvis’ research on hedonistic experiences, which shows that longer vacations do not necessarily give us better memories, was highlighted.

Southtown Star: “Bloom to Celebrate his 110th Birthday”
August 15, 2010

Professor Richard Sylla was featured for his upcoming induction into the Bloom High School’s Alumni Hall of Fame.

The Washington Post: “Banks Gird for Financial Overhaul’s Ban on Speculating with Their Own Money”
August 14, 2010

Professor William Silber’s paper on the nature of trading was featured.

TCMNet.com: “New Software Keeps E-Mail from Being Misconstrued”
August 13, 2010

Professor Justin Kruger’s study on the misinterpretation of sarcasm in emails was referenced.

MoneyWeb.com: “Beware of Geeks Bearing Gifts”
August 12, 2010

Professor Bernard Donefer’s study, “Algos Gone Wild,” which concludes that the speed of algorithims and their ability to reach many markets simultaneously makes disaster inevitable, was highlighted.

The Charlotte Observer: “This Small City has a Dramatic Dream”
August 6, 2010

“The Baumol Effect,” based on Professor William Baumol's research finding that service industry costs increase while output remains constant, was referenced.

Economics Week: “Research on Economics Detailed by Scientists at New York University”
August 6, 2010

Professor John Asker’s study on the internal organization of a bidding cartel was referenced.

TheStreet.com: “Financial Investments and Stock Market Tips for Real Money”
August 6, 2010

Professor Aswath Damodaran’s book, Investment Fables, was highlighted. His paper on risk free investments was featured in Australian Financial Review. Professor Damodaran’s four classifications of market timing were referenced on InvestingDaily.com.

The West Australian: “Michelle Markup Graces Few”
August 5, 2010

Professor David Yermack’s study on Michelle Obama’s impact on fashion companies’ stock was highlighted.

Financial Express: “Column: There’s Much Room for Improvement”
August 4, 2010

Professor Xavier Gabaix’s research on complicated financial products was highlighted.

The New York Times blog: “August Poli-Books Best Seller List”
August 4, 2010

Professor Nouriel Roubini’s book, Crisis Economics, was highlighted. Additional coverage appeared on Quay County Sun, Asheville Citizen-Times and Research Magazine.

The New York Times: “A GM Initial Public Offering Might Stir Caution”
August 3, 2010

Professor Edward Altman’s study on companies that emerge from bankruptcy was referenced. Additional coverage appeared on The New York Times blog, Reuters blog, Business Standard and the Financial PostHis Z-Score was used as a tool to determine the risk of certain stocks defaulting on TheStreet.com.

Science Letter: “New Productivity Science Data Have Been Reported by Scientists at New York University”
August 3, 2010

Professor William Greene’s study, building on Heckman’s sample selection model, was referenced.

Stern's Programs & Community

Emirates News Agency: “Micro – Macro Economic Indicators are Vibrant: Lubna”
August 31, 2010

An NYU Stern delegation was highlighted for its discussion on how non-oil sectors are affecting the UAE economy. Additional coverage appeared in the Khaleej Times.

Associated Press: “Stocks Turn Lower at Start of Busy US Data Week”
August 30, 2010

MBA student Eric Viloria’s views on the Bank of Japan’s decision to ease credit policy were referenced. Additional coverage appeared in The New York Times and Bloomberg.

MarketWatch.com: “William R. Berkley to Present at the Keefe, Bruyette & Woods Insurance Conference”
August 30, 2010

Vice Chairman of NYU's Board of Trustees and Chairman of the Stern Board of Overseers William Berkley’s (BS '66) forthcoming presentation at the Keefe, Bruyette & Woods Insurance Conference was highlighted. Additional coverage appeared on TMCNet.com and ADVFN.

The Huffington Post: “Promoting Entrepreneurship: Creating Lasting Economic Development in Underserved Communities”
August 27, 2010

The Clinton Foundation’s consulting program, a partnership with NYU Stern and Booz & Company, was featured.

CNBC: “Bond Market Not ‘Even Close to a Bubble’ Advisor”
August 25, 2010

Member of the NYU Stern Executive Board and Professor Richard Bernstein (MBA '87) commented on the US bond market, stating it is nowhere near a bubble. He also shared his view that jobless claims influence the stock market on CNBC.com.

GreenBiz.com: “Climate Corps 2010: News Corp Cleans Up with Telepresence, Lighting Retrofit”
August 23, 2010

MBA student Jay Stone commented on his internship experience with News Corp this summer. Additional coverage appeared on the Environmental Defense Fund blog.

CoolAvenues.com: “Ever Increasing Applications to Executive MBA Programs”
August 20, 2010

Dean Emeritus and Professor Thomas Cooley commented on the TRIUM Global Executive MBA, a joint program with NYU Stern, LSE and HEC Paris.

The Huffington Post: “Is Congress Helping College Students Save Money?”
August 20, 2010

Undergraduate student Scott Gamm commented on Congress’ new law to help students save money on textbooks. Additional coverage appeared on a USA Today blog. He also commented on credits unions on TheNation.com.

Bloomberg Businessweek: “Admissions Q&A: NYU”
August 19, 2010

Assistant Dean of MBA Admissions and Financial Aid Anika Davis Pratt stressed that Stern is looking for MBA candidates with intellectual and interpersonal skills who are forward-looking and results-oriented.

IndustryWeek.com: “Private Equity 3.0”
August 18, 2010

Member of the NYU Stern Board of Overseers Ronald Blaylock (MBA '89) was featured as a founding member of the private equity firm, GenNx360 Capital Partners.

New York Post: “Worldwide Plaza Lease for WNET”
August 17, 2010

Member of the NYU Stern Board of Overseers Philip Milstein’s (MBA '74) plans to sell the Milford Plaza Hotel was highlighted.

The Wall Street Journal: “Eton Park Discloses Big Gold ETF Stake”
August 16, 2010

Member of the NYU Stern Board of Overseers John Paulson (BS '78) was cited for his position on investing in gold. Additional coverage appeared in two Bloomberg Businessweek pieces, three Bloomberg pieces, two Forbes.com blogs, MarketWatch.com, SmartMoney.com, The Wall Street Journal blog,  TheStreet.com, The Globe and Mail and five other outlets. The acquisition of Goldman Sachs shares by Paulson's hedge fund was highlighted in Bloomberg Businessweek, three The Wall Street Journal pieces, two TheStreet.com pieces, CNNMoney.com, The Seattle Times, Reuters Africa and three additional outlets. He was referenced for his plans to sell shares in Harrah’s in Reuters, MarketWatch.com and seven additional outlets. He was also cited for being most likely to donate to charity in The Chronicle of Philanthropy, The Wall Street Journal blog and two additional outlets. His plans to launch a Ucits-compliant version of his main funds was referenced in Investment Week. Paulson was also cited in an article on the top 10 hedge fund stocks to buy in The Globe and Mail.

Houston Business Journal: “John Poindexter Fights for His Brethren and Wins”
August 13, 2010

The 2010 C. Walter Nichols Award recipient, John Poindexter (MBA '71, PhD '76), was featured.

Bloomberg: “Dr. Doom Backs Fed Stimulus, Sees 30-Year Yield Falling to 3.5%”
August 10, 2010

NYU Life Trustee and Chairman Emeritus of the NYU Stern Board of Overseers Henry Kaufman (PhD '58) commented that the Fed should purchase more debt to support the economy. Additional coverage appeared on Bloomberg Businessweek and FOX Business. He also commented on US economic growth in two Bloomberg pieces, TopNews.net and IMarketnews.com.

Information World Review: “Wiley InterScience Replaced by Wiley Online Library”
August 9, 2010

Member of the NYU Stern Board of Overseers William Pesce (MBA '75) was featured for his thoughts on the launch of John Wiley & Sons’ Wiley Online Library.

The Times of India: “Bridging the Gap Between the ‘Creatives’ and the ‘Suits’”
August 9, 2010

Professor Samuel Craig and graduate student Heather Jack were featured for their comments on NYU's MBA/MFA dual degree program for producers from NYU's Stern School and Tisch Kanbar.

Crain’s New York Business: “Will the Giving Be as Good as the Getting?”
August 8, 2010

Member of the NYU Stern Board of Overseers Kenneth Langone (MBA '60) was highlighted for being a New Yorker who pledged at least half of his wealth to charity. He was also cited as an important donor for NYU Stern in Business Standard.

Internet Weekly News: “New Approach to Cyber Security: NYU-Poly Educates Engineers to Think Like Policy Makers and Psychologists to Protect”
August 9, 2010

NYU Stern was featured for its faculty participation in the upcoming NYU-Poly program, “INSPIRE: An Interdisciplinary Research and Education Program.”

The Wall Street Journal: “Christopher Reeve’s Children Continue Fight”
August 6, 2010

MBA/MFA student Matthew Reeve was featured for helping to establish the Christopher and Dana Reeve Foundation’s Champions Committee.

SouthWest.com: “Southwest Airlines Salutes the Inheritance of Hope”
August 5, 2010

Semi-finalist in NYU Stern's 2008 Business Plan Competition Deric Milligan (MBA ’09) was featured for his organization, Inheritance of Hope.

AOL Small Business: “Why Pay”
August 4, 2010

MBA student and winner of Stern's 2010 Social Enterprise Competition Chirag Sadana (MBA '12) was featured for his advice to budding entrepreneurs. 

Forbes.com: “Jobs for MBAs are Back, But They are Different”
August 3, 2010

Assistant Dean of Career Services and Leadership Development Pamela Mittman was featured for her comments on the increase in job postings for new MBA students.

JustMeans.com: “On Social Enterprise: An Opening Post by Andrew Wilkes”
August 3, 2010

NYU Stern was highlighted as a business school with dedicated funding and space for social enterprise.

The Wall Street Journal: “Geithner Addresses Economy, Financial Overhaul’s Implementation”
August 3, 2010

US Treasury Secretary Timothy Geithner’s speech at NYU Stern on financial reform was highlighted. Additional coverage appeared in another Wall Street Journal piece, The Washington Post, New York Daily News, Associated Press, two Reuters pieces, The Times, two New York Times pieces, CNBC, CNBC's Kudlow Report, CNBC World, In Focus with Carol Massar and Mark Miller, Closing Bell With Maria Bartiromo, Bloomberg Businessweek, Bloomberg News, Bloomberg Taking Stock, Newsweek, Fortune blog, MarketWatch, The New York Observer, The Huffington Post, American Banker, three Dow Jones pieces, Dow Jones Chinese Financial Wire and 24 additional outlets.

VentureBeat.com: “Activity-Tracking Service the Hotlist Launches iPhone App”
August 2, 2010

The Hotlist, the first undergraduate team to win the NYU Stern New Venture Competition in 2007, was featured.

Crain’s New York Business: “Venture Capital Funds Nurture Secret Start-Ups”
August 1, 2010

NYU Stern was highlighted for hosting NYC SeedStart, a joint project of five venture capital operations.

Expert Commentary from Faculty

The Daily Beast: “Obama Speech: Iraq Vision Accomplished”
August 31, 2010

In an op-ed, Professor Tunku Vardarajan shared his thoughts on President Obama’s speech announcing the end of combat operations in Iraq. In seven Daily Beast op-eds, he commented on Sarah Palin, the floods in Pakistan, American beliefs, the mosque at Ground zero, Obama’s re-election and former White House Chief of Staff Karl Rove. He also shared his thoughts on Senator John McCain in another Daily Beast piece, with additional pick-up in Reuters.

Forbes: “Mining Human Behavior at MIT”
August 30, 2010

Professor Sinan Aral commented on Alexander Pentland’s combination of data mining and social dynamics, saying that it was unique.

The Wall Street Journal: “Thomas Cooley and Lee Ohanian: FDR and the Lessons of the Depression”
August 27, 2010

In an op-ed, Dean Emeritus and Professor Thomas Cooley offered his thoughts on FDR and lessons from the Depression. Additional coverage appeared on Seeking Alpha. He commented on the effects of increasing unemployment insurance on the labor market on Forbes.com. He also shared his thoughts on the politics of financial reform and the Dodd-Frank Act in another Forbes.com piece and in American Banker.

New Jersey Newsroom: “Bringing Trust Back to the Free-Market System”
August 26, 2010

Professor Joshua Ronen commented on financial statement insurance stating that it is a way to prevent misrepresentations in financial statements.

The Motley Fool: “Finding Safe Low P/E Stocks”
August 20, 2010

Professor Aswath Damodaran commented on price-to-earnings stocks, stating that low P/E stocks outperform high P/E stocks significantly.

The Women's Media Center: “Exclusive for Love and/or Money: When Business and Activism Hold Hands”
August 18, 2010

Professor Sheila Wellington shared her thoughts on nonprofits collaborating with corporations.

The New York Times: “Google Internet Plan Disillusions Some Allies”
August 16, 2010

Professor Scott Galloway commented on how consumers view Google, saying they have been able to create a positive image. Additional coverage appeared in the Sarasota Herald-Tribune. He also shared his thoughts on US consumer behavior on Bloomberg, The Washington Post and ClipSyndicate.com. He offered his perspective on privatizing Playboy Enterprises Inc. on Bloomberg TV and in The Washington Post.

Financial Times: “Guarantees Would Make Banks Take a Look at Break-Ups”
August 13, 2010

In an op-ed, Professor Viral Acharya shared his thoughts on government guaranteed banks. In another Financial Times op-ed, he offered his perspective on OTC derivatives. He shared his thoughts on the central clearing of credit default swaps in India on Mint, and on government-sponsored enterprise reform on The Economist blog. He commented on the Dodd-Frank Act, systemic risks and stress tests on VoxEU.org. He shared his review of Fault Lines by Raghuram Rajan on Ajay Shah's blog and India Microfinance. He also commented on US Treasury Secretary Geithner’s speech at NYU on Le Football blog.

Fortune: “Don’t Blame the Consumer for Sluggish Economy”       
August 13, 2010

Professor David Backus commented on historic consumption trends in the US, stating that it has not always been as high.

The New York Times: “Comfortably Wasteful With the Air-Conditioner”
August 10, 2010

Professor Lawrence White commented on people’s tendency to overuse things that are free. He shared his thoughts on the Federal Reserve monetary policy, Fannie Mae and Freddie Mac, interest rates and credit rating agencies on Bloomberg TV, BloombergThe Wall Street Journal, Fox News' "Your World with Neil Cavuto," FOXBusiness.com, AOL's Daily Finance, Brookings.edu and Treasury & Risk. He offered his support of non-banking institutions providing financial services in TheStreet.com and shared his thoughts on exclusions for the regulatory reform bill in American Banker and OnWallStreet.com.

The Washington Post: “Silicon Valley Criticizes Google-Verizon Accord”
August 10, 2010

Professor Nicholas Economides shared his view on the Google-Verizon pact on net neutrality, stating that it appeared lopsided. He also commented on the consequences of abandoning neutrality in El Economista. He offered his view on the FTC settlement with Intel in WIRED and PC Magazine.

The Atlanta Journal - Constitution: “Film Students Focus on Business”
August 8, 2010

Professor Al Lieberman commented on NYU Stern’s Entertainment, Media and Technology program, saying that it served as a model for Emory’s new program in Film and Media Management.

Bloomberg: “Crash of 2015 Won't Wait for Regulators to Rein in Wall Street”
August 8, 2010

Professor Roy Smith shared his perspective on financial risk in the future, saying that the pace of banking reform will not keep up with the tendency to experience a crash every five to seven years. Additional coverage appeared in the San Francisco Chronicle, Austin American Statesman, Denver Post, two Finanza e Mercati pieces and Business Report.

TV Tokyo
August 8, 2010

Professor Gian Luca Clementi commented on the Euro.

ArsTechnica.com: “The Sorcerer’s Apprentice, But with Money: Another Look at the HFT”
August 5, 2010

Professor Bernard Donefer commented on high frequency trading stating that it is all electronic. Additional coverage appeared on AI 5000.

Forbes.com: “Get Ready for a Sluggish Second Half”
August 5, 2010

In a co-authored op-ed, Professor Nouriel Roubini commented on the economic recovery for the second half of 2010, stating that it will be sluggish. Additional coverage on his economic outlook appeared on Bloomberg TV, three Bloomberg pieces, The New York Times, The New York Times blog, CNBC.com, FOXNews.com, The Washington Post, TheStreet.com, Portfolio.com and 17 outlets. His thoughts on the threat of a double dip recession and the US economy appeared on CNBC’s Squawk Box, CNBC.com, two Bloomberg pieces, The Huffington Post, Financial Times Alphaville, Barron's blog, The Washington Post, MSNBC.com, two TheStreet.com pieces, The Times, The Independent, Financial Times blog and 29 outlets. He shared his thoughts on preventing the re-birth of Gordon Gekko on Project-Syndicate.org, The New York Times blog, The Korea Herald, two Huffington Post pieces and eight additional outlets. He also commented on banking reform, deflation and China in The Economist, The Wall Street Journal blog and two additional outlets.

Harvard Business Review blog: “The Crucial Skill for Tomorrow’s Leaders”
August 4, 2010

Professor Batia Mishan Wiesenfeld commented on what is necessary to develop the future leaders of tomorrow at the “Imagining the Future of Leadership” Symposium.

Marketplace: “Are Consumers Ready for 3-D TV?”
August 4, 2010

Professor Samuel Craig commented on 3-D television, saying it is a chicken and egg situation in which consumers will not buy without content and producers will not offer content unless consumers buy.

NY1: “Quinn Tours Upstate Farm; Urges City Agencies to Buy Locally”
August 3, 2010

Professor Joseph Foudy commented on the local food movement, arguing that helping farmers was important but not at the expense of taxpayers.

Financial Times: “Regulation and Governance: A Small Step in the Right Direction”
August 2, 2010

Professor Viral Acharya and NYU Life Trustee and Chairman Emeritus of the NYU Stern Board of Overseers Henry Kaufman (PhD '58) commented on clearing houses.

BigThink.com: “Robert Engle”
August 2, 2010

Professor Robert Engle shared his thoughts on the financial crisis and necessary reforms in an exclusive interview.

Global Times: “Helping Hand for Locals Won’t Push Away Foreign Firms”
August 1, 2010

Professor William Baumol’s thoughts on innovation as a key factor for any enterprise was featured. He also commented on regulating art auctions in Maine Antique Digest.

NOTE: Due to subscription policies, not all articles cited could be included with a link to the full article.