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: âGoogle Research Award Goes to Vagelis Hristidisâ |
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: âBroadband Openness Rules are Fully Justified by Economic Researchâ August 30, 2010 |
Professor Nicholas Economidesâ research on broadband openness rules was featured. |
ScienceDaily: âLocation Determines Social Network Influence, Study Finds: Number of Connections Less Important Than Proximity to Coreâ |
Associate Research Scientist Lev Muchnikâs 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: âNew Findings in the Area of Financial Studies Publishedâ |
Professor Holger Muellerâs 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: âNew Quantitative Marketing and Economics Study Findings Recently Were Reported by Researchers at New York Universityâ |
Professor TĂŒlin Erdemâs test for distinguishing between internal reference price theories was referenced. |
Billboard: âSix Names Likely Mentioned in Googleâs Search for Music Chiefâ |
Professor David Ellner was highlighted as one of the top choices to head Googleâs digital music division. |
The Daily Telegraph: âLehman Brothersâ Art Auction Offers Glimpse Into the Secret World of Corporate Collectingâ |
An NYU Stern study showing that investing in the stock market is more profitable than art was featured. |
Examiner.net: âFink: History and Math versus Ideologyâ |
Professor Amity Shlaesâ book, The Forgotten Man, was featured. |
The Wall Street Journal: âDiets that Donât Work: Where Enterprise Resource Planning Goes Wrongâ |
Professor Sinan Aralâs book, Generating Premium Returns on Your IT Investments, was highlighted. |
Barron's: âA Big Say on Big Payâ |
Professor Fabrizio Ferriâs 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: âNumber of the Week: Bankers Keep Getting Richerâ |
Professor Thomas Philipponâs research on bankersâ salaries, which showed that in 2006 wages in finance were 70 percent higher than other professions, was featured. |
The New York Times: âMcCain Looks to Complete a Comebackâ |
Professor Scott Gallowayâs study on ranking senators by their âdigital IQâ was referenced. Additional coverage appeared in Newsweek, New York Magazine, Bloomberg TV, Fox News, WNYC, TIME, CNN.com blog and 28 other outlets. |
The New York Times: âNews Briefsâ |
Professor Eric Dinalloâs 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: âApplying Academic Formulae to Scripts Could Weed Out Hollywood Dudsâ |
Professor Sam Huiâs research on predicting box office performance from movie scripts was referenced. |
Forbes.com blog: âInvesting Strategies for Low Inflationâ |
Inflation data collected by NYU Stern, which showed previous periods of low inflation and slow economic growth, was referenced. |
HedgeFundsReview.com: âMorgan Stanley Offers Ucits III Event Driven Hedge Fundâ |
Professor Peter Schoenfeld was featured for his hedge fundâs (PSAM) relationship with Morgan Stanley. Additional coverage appeared on Opalesque.com, CityWire, Telegraph.co.uk, BobsGuide.com, Forexyard.com and FINalternatives.com. |
The Independent: âTake Shorter Breaks More Often for the Happiest Time Offâ |
Professor Tom Meyvisâ research on hedonistic experiences, which shows that longer vacations do not necessarily give us better memories, was highlighted. |
Southtown Star: âBloom to Celebrate his 110th Birthdayâ |
Professor Richard Sylla was featured for his upcoming induction into the Bloom High Schoolâs Alumni Hall of Fame. |
The Washington Post: âBanks Gird for Financial Overhaulâs Ban on Speculating with Their Own Moneyâ |
Professor William Silberâs paper on the nature of trading was featured. |
TCMNet.com: âNew Software Keeps E-Mail from Being Misconstruedâ |
Professor Justin Krugerâs study on the misinterpretation of sarcasm in emails was referenced. |
MoneyWeb.com: âBeware of Geeks Bearing Giftsâ |
Professor Bernard Doneferâs study, âAlgos Gone Wild,â which concludes that the speed of algorithims and their ability to reach many markets simultaneously makes disaster inevitable, was highlighted. |
The Charlotte Observer: âThis Small City has a Dramatic Dreamâ |
âThe Baumol Effect,â based on Professor William Baumol's research finding that service industry costs increase while output remains constant, was referenced. |
Economics Week: âResearch on Economics Detailed by Scientists at New York Universityâ |
Professor John Askerâs study on the internal organization of a bidding cartel was referenced. |
TheStreet.com: âFinancial Investments and Stock Market Tips for Real Moneyâ |
Professor Aswath Damodaranâs book, Investment Fables, was highlighted. His paper on risk free investments was featured in Australian Financial Review. Professor Damodaranâs four classifications of market timing were referenced on InvestingDaily.com. |
The West Australian: âMichelle Markup Graces Fewâ |
Professor David Yermackâs study on Michelle Obamaâs impact on fashion companiesâ stock was highlighted. |
Financial Express: âColumn: Thereâs Much Room for Improvementâ |
Professor Xavier Gabaixâs research on complicated financial products was highlighted. |
The New York Times blog: âAugust Poli-Books Best Seller Listâ |
Professor Nouriel Roubiniâs book, Crisis Economics, was highlighted. Additional coverage appeared on Quay County Sun, Asheville Citizen-Times and Research Magazine. |
The New York Times: âA GM Initial Public Offering Might Stir Cautionâ |
Professor Edward Altmanâs 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 Post. His Z-Score was used as a tool to determine the risk of certain stocks defaulting on TheStreet.com. |
Science Letter: âNew Productivity Science Data Have Been Reported by Scientists at New York Universityâ |
Professor William Greeneâs study, building on Heckmanâs sample selection model, was referenced. |
Stern's Programs & Community |
Emirates News Agency: âMicro â Macro Economic Indicators are Vibrant: Lubnaâ |
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: âStocks Turn Lower at Start of Busy US Data Weekâ |
MBA student Eric Viloriaâs views on the Bank of Japanâs decision to ease credit policy were referenced. Additional coverage appeared in The New York Times and Bloomberg. |
MarketWatch.com: âWilliam R. Berkley to Present at the Keefe, Bruyette & Woods Insurance Conferenceâ |
Vice Chairman of NYU's Board of Trustees and Chairman of the Stern Board of Overseers William Berkleyâs (BS '66) forthcoming presentation at the Keefe, Bruyette & Woods Insurance Conference was highlighted. Additional coverage appeared on TMCNet.com and ADVFN. |
The Huffington Post: âPromoting Entrepreneurship: Creating Lasting Economic Development in Underserved Communitiesâ |
The Clinton Foundationâs consulting program, a partnership with NYU Stern and Booz & Company, was featured. |
CNBC: âBond Market Not âEven Close to a Bubbleâ Advisorâ |
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: âClimate Corps 2010: News Corp Cleans Up with Telepresence, Lighting Retrofitâ |
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: âEver Increasing Applications to Executive MBA Programsâ |
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: âIs Congress Helping College Students Save Money?â |
Undergraduate student Scott Gamm commented on Congressâ 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: âAdmissions Q&A: NYUâ |
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: âPrivate Equity 3.0â |
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: âWorldwide Plaza Lease for WNETâ |
Member of the NYU Stern Board of Overseers Philip Milsteinâs (MBA '74) plans to sell the Milford Plaza Hotel was highlighted. |
The Wall Street Journal: âEton Park Discloses Big Gold ETF Stakeâ |
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 Harrahâs 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: âJohn Poindexter Fights for His Brethren and Winsâ |
The 2010 C. Walter Nichols Award recipient, John Poindexter (MBA '71, PhD '76), was featured. |
Bloomberg: âDr. Doom Backs Fed Stimulus, Sees 30-Year Yield Falling to 3.5%â |
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: âWiley InterScience Replaced by Wiley Online Libraryâ |
Member of the NYU Stern Board of Overseers William Pesce (MBA '75) was featured for his thoughts on the launch of John Wiley & Sonsâ Wiley Online Library. |
The Times of India: âBridging the Gap Between the âCreativesâ and the âSuitsââ |
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. |
Crainâs New York Business: âWill the Giving Be as Good as the Getting?â |
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: âNew Approach to Cyber Security: NYU-Poly Educates Engineers to Think Like Policy Makers and Psychologists to Protectâ |
NYU Stern was featured for its faculty participation in the upcoming NYU-Poly program, âINSPIRE: An Interdisciplinary Research and Education Program.â |
The Wall Street Journal: âChristopher Reeveâs Children Continue Fightâ |
MBA/MFA student Matthew Reeve was featured for helping to establish the Christopher and Dana Reeve Foundationâs Champions Committee. |
SouthWest.com: âSouthwest Airlines Salutes the Inheritance of Hopeâ |
Semi-finalist in NYU Stern's 2008 Business Plan Competition Deric Milligan (MBA â09) was featured for his organization, Inheritance of Hope. |
AOL Small Business: âWhy Payâ |
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: âJobs for MBAs are Back, But They are Differentâ |
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: âOn Social Enterprise: An Opening Post by Andrew Wilkesâ |
NYU Stern was highlighted as a business school with dedicated funding and space for social enterprise. |
The Wall Street Journal: âGeithner Addresses Economy, Financial Overhaulâs Implementationâ |
US Treasury Secretary Timothy Geithnerâs 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: âActivity-Tracking Service the Hotlist Launches iPhone Appâ |
The Hotlist, the first undergraduate team to win the NYU Stern New Venture Competition in 2007, was featured. |
Crainâs New York Business: âVenture Capital Funds Nurture Secret Start-Upsâ |
NYU Stern was highlighted for hosting NYC SeedStart, a joint project of five venture capital operations. |
Expert Commentary from Faculty |
The Daily Beast: âObama Speech: Iraq Vision Accomplishedâ |
In an op-ed, Professor Tunku Vardarajan shared his thoughts on President Obamaâs 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, Obamaâs 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: âMining Human Behavior at MITâ |
Professor Sinan Aral commented on Alexander Pentlandâs combination of data mining and social dynamics, saying that it was unique. |
The Wall Street Journal: âThomas Cooley and Lee Ohanian: FDR and the Lessons of the Depressionâ |
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: âBringing Trust Back to the Free-Market Systemâ |
Professor Joshua Ronen commented on financial statement insurance stating that it is a way to prevent misrepresentations in financial statements. |
The Motley Fool: âFinding Safe Low P/E Stocksâ |
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: âExclusive for Love and/or Money: When Business and Activism Hold Handsâ |
Professor Sheila Wellington shared her thoughts on nonprofits collaborating with corporations. |
The New York Times: âGoogle Internet Plan Disillusions Some Alliesâ |
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: âGuarantees Would Make Banks Take a Look at Break-Upsâ |
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 Geithnerâs speech at NYU on Le Football blog. |
Fortune: âDonât Blame the Consumer for Sluggish Economyâ       |
Professor David Backus commented on historic consumption trends in the US, stating that it has not always been as high. |
The New York Times: âComfortably Wasteful With the Air-Conditionerâ |
Professor Lawrence White commented on peopleâs 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, Bloomberg, The 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: âSilicon Valley Criticizes Google-Verizon Accordâ |
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: âFilm Students Focus on Businessâ |
Professor Al Lieberman commented on NYU Sternâs Entertainment, Media and Technology program, saying that it served as a model for Emoryâs new program in Film and Media Management. |
Bloomberg: âCrash of 2015 Won't Wait for Regulators to Rein in Wall Streetâ |
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 |
Professor Gian Luca Clementi commented on the Euro. |
ArsTechnica.com: âThe Sorcererâs Apprentice, But with Money: Another Look at the HFTâ |
Professor Bernard Donefer commented on high frequency trading stating that it is all electronic. Additional coverage appeared on AI 5000. |
Forbes.com: âGet Ready for a Sluggish Second Halfâ |
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 CNBCâs 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: âThe Crucial Skill for Tomorrowâs Leadersâ |
Professor Batia Mishan Wiesenfeld commented on what is necessary to develop the future leaders of tomorrow at the âImagining the Future of Leadershipâ Symposium. |
Marketplace: âAre Consumers Ready for 3-D TV?â |
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: âQuinn Tours Upstate Farm; Urges City Agencies to Buy Locallyâ |
Professor Joseph Foudy commented on the local food movement, arguing that helping farmers was important but not at the expense of taxpayers. |
Financial Times: âRegulation and Governance: A Small Step in the Right Directionâ |
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: âRobert Engleâ |
Professor Robert Engle shared his thoughts on the financial crisis and necessary reforms in an exclusive interview. |
Global Times: âHelping Hand for Locals Wonât Push Away Foreign Firmsâ |
Professor William Baumolâs thoughts on innovation as a key factor for any enterprise was featured. He also commented on regulating art auctions in Maine Antique Digest. |