NYU Stern
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    Excerpt from Bloomberg -- "There is a major piece of legislation that is going to come up on Wednesday, this week, in the Greek Parliament, and there will be defections from the ruling party. And we'll see how it will go. It will most likely pass with the vote of the opposition, but the ruling party is becoming weaker and weaker... most likely, we'll see elections in September or October."
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    Excerpt from Bloomberg -- "If you ask me where we are right now, the IMF is not going to support a new bailout. We're not heading for soft landing over time for Greece. Right now, we're heading for another Euro summit."
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    Excerpt from Voice of America -- "Paul Wachtel, an economics professor at New York University, told VOA that long-standing U.S. sanctions and the more recent U.N. restrictions "severely hampered" Tehran's economy, pushing it into a 'deep recession.' He said Iran's economy could recover within two or three years of the lifting of the sanctions. But Wachtel said questions remain about what Tehran might do with its windfall of cash, as frozen bank accounts are unlocked at the same time the country boosts its oil exports. 'It is enough money to make a lot of trouble' in the Mideast through support of insurgencies Iran favors, Wachtel said."
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    Excerpt from Bloomberg -- "Proposed legislation seeks to redirect investments to poor and rural communities and would make it tougher for developers to access funds in big cities such as New York, where at least $3.2 billion of EB-5 cash has gone toward building the skyline since 2010, according to a study by Jeanne Calderon and Gary Friedlander, professors at New York University’s Stern School of Business."
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    Excerpt from Washington Examiner -- "The Volcker Rule, criticized for its complexity, has already forced some megabanks to divest in ways they might not have had to under the late-stage versions of Glass-Steagall... The 21st Century Glass-Steagall Act would go far beyond that, White said... The financial industry would survive, he said, but might not be safer. 'If Glass-Steagall, with all of its pristine beauty of 1933, had still been in place, nothing would have been different' in 2008, he said."
  • new york times logo feature
    Excerpt from The New York Times -- "According to a 2014 Treasury Department report, $270 million worth of Cuban assets are frozen in United States bank accounts. 'It’s going to be a mess that may not get resolved for many, many years,' said Roy C. Smith, a finance professor at N.Y.U.’s Stern School of Business who has also studied the claims."
  • financial times logo feature
    Excerpt from Financial Times -- "Mobile payment may ease the ‘pain’ of spending but could make you poorer...The academics Priya Raghubir and Joydeep Srivastava have found that we are less likely to remember purchases made by electronic means."
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    Excerpt from Mashable -- "Arun Sundararajan, a professor of business at New York University, says several startups in the on-demand market, including Lyft and Airbnb, have ramped political efforts at an earlier stage precisely because these services largely operate offline and run up against local regulators earlier. 'They all developed political and government relation functions way, way earlier than the typical technology company,' he says. Even by that standard, however, Sundararajan notes that the political maneuvering of these other companies are 'not as brash and in your face as Uber.'"
  • forbes logo feature
    Excerpt from Forbes -- "'Amazon cannot survive as a pure-play retailer,' said Scott Galloway, founder of L2 Research and a professor at the NYU Stern School of Business, at the January DLD15 conference. 'Stores are the new black in the world of ecommerce. We have discovered these incredibly robust, flexible warehouses called stores.'"
  • new york times logo feature
    Excerpt from The New York Times -- "Yet compared with its turmoil in some other big cities, Uber has negotiated the regulatory wringer of New York with relative ease. 'So far, this has been one of their success stories,' said Arun Sundararajan, a professor at the Stern School of Business at New York University who has studied the company. 'But if this [new legistlation] goes through, it will severely restrict their ability to grow.'"
  • voice of america logo feature
    Excerpt from Voice of America -- "With sanctions being removed slowly, by timetable agreement, Paul Wachtel, economics professor at New York University's Stern School of Business, said, 'In the short run, the effects will be relatively limited. The sanctions don’t even get removed immediately...I wouldn't expect much to happen for the next six months, a year, maybe two years. Beyond that, it will begin to affect the world economy. In a sense, Iran is a large economy, it’s got a large population, a well-educated population and lots of economic resources. If this agreement leads to Iran being integrated into the global economy, you have got a brand-new big player in the world economy.'"
  • bloomberg logo feat
    Excerpt from Bloomberg -- "'The significant number of ‘no’ votes from Syriza, including by some of the ministers, puts Mr. Tsipras at a very difficult position,' said Nicholas Economides, a professor at New York University’s Stern School of Business. 'Either he has to continue as a minority government at the mercy of the votes of the pro-Europe opposition parties, or create a new coalition that includes the opposition parties, or call for elections.'"
  • huffington post logo feature
    Excerpt from The Huffington Post -- "'Our economy is designed to provide a social safety net to people who have full-time jobs, but we don’t have the infrastructure to provide a similar safety net for people who do productive work but are not full time,' said Arun Sundararajan, a professor at New York University's Stern School of Business. 'Uber drivers are trying to become full time because that’s where benefits are, but classifying them as full time is retrofitting an old system. There’s a new way people are making a living, and it’s about finding a way to extend protections to more of them.'"
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    Excerpt from The Wall Street Journal -- "'This is a country where high fructose syrup has a better supply chain than fresh tomatoes, and half of our produce comes from the state of California,' said Hans Taparia, clinical assistant professor at NYU Stern School of Business, where he teaches classes on food entrepreneurship."
  • financial news logo feature
    Excerpt from Financial News -- "Barclays has made a big step by replacing [Antony] Jenkins in the middle of his efforts to turn things around. It appears that the main reason for the change was that what he was doing was taking too long, and the markets no longer believed his efforts would change anything, not that the basic strategy was wrong. [John] McFarlane must convince the market that he can deliver strategy that will yield better results, or he too will be out. Many other global investment banks are in the same position, sticking to the old strategy while working to improve execution. But the real fault is in the strategy itself, not the execution, however slow that has been."
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    Excerpt from MBA Today -- "The NYU Stern's Center of Business and Human Rights is led by co-directors, Research Scholar Sarah Labowitz and Professor Michael Posner, former Assistant Secretary of State for Democracy, Human Rights and Labor. The representation of these figures from this field within a business school is rare and exceptional. Yet, this is just the beginning. Though only two years old, the CBHR has already helped grow substantive initiatives internationally, and with it sought to establish ongoing links with NYU Stern. This has been seen in the Center's work throughout the developing region, with works in Bangladesh."
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    Excerpt from CBS News -- ""The potential for opportunities for trade and growth are significant if Iran really opens up to the world,' said Paul Wachtel of New York University's Stern School of Business. 'It is a country with oil and a well-educated labor force. A large economy like that coming back into an integrated world economic order would be really significant.'

    But Wachtel said there's a major 'if' tied to that prospect. 'That integration can only happen if this nuclear deal is part of an Iranian political shift to a broader openness to the world. You need that trust factor that's still not there yet.'"
  • huffington post logo feature
    Excerpt from The Huffington Post -- "On July 21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (hereafter, DF), the most sweeping financial regulatory reform in the United States since the 1930s. DF explicitly aims to limit systemic risk, allow for the safe resolution of the largest intermediaries, submit risky nonbanks to greater scrutiny, and reform derivatives trading. How to celebrate its fifth birthday? Well, if you are like us, it will be a sober affair, reflecting serious worries about the continued vulnerability of the financial system."
  • reuters logo feature
    Excerpt from Reuters -- "The agreement, despite its imperfections, shows that Europe will ultimately pull together, even to try to help its weakest link, said the professor of economics and international business at the Stern School of Business, New York University....'It's a constructive deal, positive for the euro zone, and means that for now, those tail risks that would have led to a more fundamental repricing of euro zone assets should not occur,' Roubini told Reuters in an interview in London."
  • – Faculty News

    Professor Kim Schoenholtz on China's stock market

    July 13, 2015
    china daily logo feature
    Excerpt from China Daily -- "Writing in their blog moneyandbanking.com, Stephen G. Cecchetti a professor of international economics at Brandeis University in Waltham, Massachusetts, and [Kim] Schoenholtz, noted that China's stock market is now the world's second-largest behind the US in terms of market capitalization of domestic issues...'In a large market like China's you are dependent upon the behavior of private investors. It's hard for government action to lead to stability,' Schoenholtz said. 'The success of China's stock market will depend on the government being able to tolerate volatility.'"
  • salon logo
    Excerpt from Salon -- "NYU economist Thomas Philippon finds that we now pay much more for financial middlemen than we should, despite dramatic technological advances, and that drains about $280 billion annually out of the economy. This is profit from rent seeking activity. Using a market price/earnings factor of 15.5 (a commonly used multiple that converts annual profit into market value of equity), the implied size of this financial rent-seeking business in terms of share value is more than $4 trillion, larger than the 15 largest non-financial firms in the United States and more than 15 percent of aggregate market capitalization of U.S. businesses."
  • new york times logo feature
    Excerpt from The New York Times -- “‘Competition in a collaborative environment doesn’t work well,’ Professor Blader said. In team-based environments, it may be better to inform each employee of his or her performance individually rather than as part of a group ranking. But if a company’s culture is self focused rather than team focused, publicizing rankings may be effective, he said.”
  • wall street journal logo feature
    Excerpt from The Wall Street Journal -- "In China, too, debt is the problem. 'When a bubble pops, it’s leverage that almost always proves so corrosive and destabilizing on the way down,' says Lawrence White, professor at New York University’s Stern School of Business who specializes in financial regulation."
  • bloomberg logo feat
    Excerpt from Bloomberg -- "'This makes all the sense in the world,' said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in a phone interview. 'Tesla is not an automobile company, it’s a luxury company.'"
  • financial times logo feature
    Excerpt from the Financial Times -- "We live in a world that's very competitive and I think investors are often operating on very short-term horizons, especially in the US. I think that short-termism drives companies to make a lot of bad decisions. And so one of the things we've got to do is begin to take a longer-term view and get the investment community to say we're going to take longer bets on companies that basically build sustainable models that protect human rights, the environment, and also make a profit. This is about doing good and doing well."


Contact NYU Stern Public Affairs

If you're a member of the press, please contact Stern’s Office of Public Affairs at:

Phone: 212-998-0670
Fax: 212-995-4950
Email: paffairs@stern.nyu.edu

Or contact us directly:

Jessica Neville, Executive Director
(416) 516-7677; jneville@stern.nyu.edu

Rika Nazem, Executive Director
(212) 998-0678; rnazem@stern.nyu.edu

Carolyn Ritter, Senior Associate Director
(212) 998-0624; critter@stern.nyu.edu

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