Faculty News
Stern in the News: July 2010
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In July, NYU Stern generated more than 800 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 Greek public debt in a variety of prominent media outlets including Bloomberg, the Financial Times and Forbes. Additionally in 35 op-eds, Stern faculty offered their perspectives on Goldman Sachs and the SEC, AIG’s problems and the Eurozone economy.
Please continue reading for news highlights from July 2010.
| Faculty Research & Accolades |
Financial Times: “Private Equity’s Activities Have Huge Public Consequences” |
Professor Viral Acharya’s study on private equity markets was referenced. His research on credit-risk models was referenced in The Business Times. |
Bloomberg: “Publicis' Kekst Names Larry Rand Chief Executive as Founder Pares Duties” |
Professor Larry Rand was named president and CEO of Kekst and Company. Additional coverage appeared in PR Week. |
Motley Fool: “The 20 Best Value Stocks in Tech” |
Professor Aswath Damodaran’s research, showing that stocks with a low Price/Earnings ratio (P/E) outperform high P/E stocks, was referenced. Additional coverage appeared in TheMoneyTimes.com. |
The Wall Street Journal: “Lenders Fare Better in Latest Downturn” |
Professor Edward Altman’s report on distressed-debt exchanges and bankruptcy was referenced. His Z-score model that predicts the probability of a corporate default was referenced in USA Today, TheStreet.com and Benzinga.com. |
The Huffington Post: “Balanced Capitalism” |
Professor William Baumol’s book, Good Capitalism, Bad Capitalism, was referenced. |
Science Letter: “New Findings from New York University in the Area of Operations Science Published” |
Professor Mor Armony’s research on the routing policy in call centers was referenced. |
DigitalJournal.com: “Microsoft Research Illuminates Night Sky and Mars in 3-D with WorldWide Telescope” |
Professor Sinan Aral was highlighted for his 2010 Microsoft Research Faculty Fellowship grant. |
PaidContent.org: “paidContent Mobile: Leveraging the Smartphone Boom” |
Professor Luke Williams’s upcoming speech at the conference “paidContent Mobile: Leveraging the Smartphone Boom” was highlighted. |
Financial Times: “Something for the Weekend” |
Professor Sam Hui’s new model to predict box office revenue from movie scripts was referenced. Additional coverage appeared on Fox Business News and the Financial Post. He and Professor Michael Goodman commented on the NYC personal care website Lifebooker.com in Crain’s New York Business. |
Investor's Chronicle: “The Psychology of Recovery” |
Professor Tom Meyvis’ research on hedonistic experiences was referenced. Additional coverage appeared in The Week and Gamasurta.com. |
Slate.com: “The Almighty Dollar” |
Professor David Yermack's study on incentive compensation in the Church was referenced. Additional coverage appeared in PhysOrg.com. |
Financial Times: “Leaving School” |
Professor Tommaso Albanese’s appointment as the UBS European co-head of global capital markets was highlighted. |
Helium: “Role Of Product Bundling in Sales Marketing |
Professor Yannis Bakos’s study on product bundling, which refers to packaging software in the price of hardware, was referenced. |
The New Yorker: “The Dangers of Financial Illiteracy in America” |
Professor Justin Kruger’s study on recognizing one’s own ignorance was referenced. Additional coverage appeared in The Atlantic and TayarKoni.org. |
TIME: “British ATM Network Uses Small Banknotes to Push Savings” |
Professor Priya Raghubir’s study, finding that consumers are less likely to spend cash held in large denominations, was highlighted. |
Investment Weekly News: “Research Conducted at New York University has Updated Our Knowledge about Empirical Finance” |
Professors Yakov Amihud and Clifford Hurvich’s research on predictive regressions was highlighted. |
Marketing Weekly News: “Research Findings From New York University Update Understanding of Marketing Science” |
Professor Sha Yang’s study on underreporting bias in panel survey data was referenced. Her study on intrahousehold behavioral interaction was highlighted in another Marketing Weekly News piece. |
The Wall Street Journal: “Hedge Fund Lending Draws Scrutiny” |
Professor Anthony Saunders’s study on regulating hedge funds was referenced. Additional coverage appeared in The Wall Street Journal Asia. |
ArtPulse: “Art Market Crisis” |
Professor Michael Moses’s co-created Mei-Moses Art Index, which tracks the value of artwork, was referenced. |
The Atlantic: “Monsters in the Market” |
Professor Bernard Donefer’s study, “Algos Gone Wild,” which concludes that the speed of algorithmic equations can cause havoc in trading markets, was referenced. Additional coverage was referenced on NYConvergence.com. |
Stern's Programs & Community |
Dow Jones: “US Equities Week Ahead: Jobs, Auto Sales Data; More 2Q Results” |
NYU Stern was highlighted for hosting US Treasury Secretary Timothy Geithner, who spoke about financial reform on August 2. Additional coverage appeared in DJ em Português, Fox Business, AutomatedTrader.net, The Washington Daybook and Precise Media Planner. |
TheAlternativePress.com: “Nicholas Schiavo Appointed Accounting Expert for Strategic Steps for Growth Program” |
The NYU Stern Berkley Center for Entrepreneurship & Innovation executive education program, "Strategic Steps for Growth," was featured. |
International Business Times: “MBA News: NYU-Stern Releases its Essay Questions” |
The release of NYU Stern’s 2010-2011 graduate school admissions essay questions was referenced. |
Bloomberg Businessweek: “Sunil Kumar Named Dean at Chicago Booth” |
Dean Peter Henry’s appointment at NYU Stern was referenced. |
States News Service: “NYU-Poly Receives Major Grant to Educate Next Generation of Cyber Security Engineers” |
NYU Stern faculty and staff participation in NYU-Poly’s new program, INSPIRE (Information Security and Privacy): An Interdisciplinary Research and Education Program, was referenced. Additional coverage appeared on Insurance News Net. |
The Huffington Post: “The Lifeline for College Students: Credit Unions” |
Incoming undergraduate student Scott Gamm commented on credit unions, stating that they are the financial solution for college students looking to manage their finances. Additional coverage appeared in States News Service. |
The Finance Professionals' Post: “Book Review: Restoring Financial Stability” |
The NYU Stern book, Restoring Financial Stability: How to Repair a Failed System, which features 18 white papers by various Stern faculty members, was reviewed. |
The Wall Street Journal: “Paulson, Biggs Set Sights On Europe” |
Member of the NYU Stern Board of Overseers John Paulson (BS '78) was cited for his plans to launch a UCITS-compliant version of his main funds. Additional coverage appeared in Reuters and The New York Times blog. His comments on investing in gold, selling his shares in Harrah's, CDO investments and the sustained economic recovery in the US were cited on MarketWatch.com, two Bloomberg BusinessWeek pieces, Reuters, The Wall Street Journal blog, The New York Times blog, The Independent, Telegraph.co.uk and 14 additional outlets. |
The Guardian: “MBA Business Schools: Home or Abroad: Where to Study” |
The TRIUM Global Executive MBA, a joint program with NYU Stern, the London School of Economics and HEC Paris, was featured. Additional coverage appeared in the Australian Financial Review. |
New York Post: “Milford Plaza’s on Sales Block” |
Member of the NYU Stern Board of Overseers Philip Milstein (MBA '74) was featured for his plans to sell the Milford Plaza Hotel. Additional coverage appeared on TheRealDeal.com. |
PaGalGuy.com: “Universal Business School: India’s First Green Business School” |
NYU Stern was compared to India’s Universal Business School; both schools are located in major cities. |
Investment Weekly News: “University of Illinois at Urbana-Champaign: U. of I. Professor Honored as Rising Star in Finance” |
Professor Jeffrey Wurgler was mentioned for receiving a Rising Star Award for finance, co-created by NYU Stern. |
Caribbean Life: “One Caribbean Radio Gets Help” |
NYU Stern MBA students were featured for their 10-week initiative under the Clinton Foundation to make One Carribean Radio profitable. |
Politico.com: “Daley to Third Way” |
NYU Trustee and Vice Chairman of the NYU Stern Board of Overseers John Vogelstein (P '98) commented on how former Commerce Secretary Bill Daley will help Third Way. |
Sun-Sentinel: “Florida Consumer Advocates: Taxing Foreign Property Insurers Will Raise Rates” |
Vice Chairman of the NYU Trustees, Chairman of the NYU Stern Board of Overseers and member of the Coalition for a Domestic Insurance Industry William Berkley (BS '66) was cited for his support of the Neal bill. Additional coverage appeared on ClaimsJournal.com, three National Underwriter Property and Casualty Insurance News pieces and InsuranceJournal.com. |
Bloomberg BusinessWeek: “Geeknet Names Kenneth G. Langone Board Chairman” |
Member of the NYU Stern Board of Overseers Kenneth Langone (MBA '60) was highlighted for his election as chairman of Geeknet Inc.’s board of directors. |
Forbes.com blog: “CSR and the Job Hunt: 51 MBA Students LEED the Way on Sustainability” |
MBA student Jay Stone was featured for his sustainability-focused internship with News Corp this summer. Additional coverage appeared on Vault.com, Environmental Defense Fund blog and ClimateBiz. |
The New York Times: “Paul Volcker Pushes for Reform, and Regrets His Past Silence” |
Member of the NYU Stern Board of Overseers Henry Kaufman (PhD '58) commented on the Volcker Rule, arguing that it will be difficult to enforce. He also stated that the financial crisis should be blamed on the Fed on PrisionPlanet.com. |
The Sacramento Bee: “Video Volunteers' Founding Director Speaks at United Nations July 10th” |
NYU Stern Business Plan Competition Winner Sam Barthelme’s (MBA '07) company, Video Volunteers, was featured |
The Washington Post: “How a Business Grew Out of a Failed Social Media App” |
NYU Stern Business Plan Competition Winner Mihir Dange (BS '01) was highlighted for his company, Social Bomb. Additional coverage appeared in The Big Money. |
MarketWatch.com: “Airfest International, Inc’s Subsidiary Signs Distribution Agreement to Launch World Renowned Artist, Thomas Kinkade’s ‘Inspiration of Israel’ Collection” |
Member of the NYU Stern Board of Overseers Michael Jay Solomon (Parent '99) was featured for his collaboration with Artfest Direct to create a DVD of the nine piece collection, "Inspiration of Israel," by Thomas Kinkade. |
Neue Zürcher Zeitung: “Dark Clouds Above the ‘Dow’: Perfect Head-and-Shoulders Pattern and Other Technical Warning Signals” |
NYU Stern’s study on the foreign exchange market was referenced. |
The New York Times blog: “End Times: Dog Interviews, Bike Ads and Prince” |
Alumna Elena Gretch’s (BS '98) business, "It's a Dog's Life," which was a quarter- finalist in Stern's 2005 Business Plan Competition, was featured. Additional coverage appeared in The New York Observer, The Huffington Post, New York Daily News, BrickUnderground.com and Gothamist.com. |
The Wall Street Journal: “UBS Teams with Former Merrill Lynch Strategist” |
Member of the NYU Stern Executive Board Richard Bernstein (MBA '87) was featured for helping UBS determine clients' risk tolerance. Additional coverage appeared on MarketWatch.com, American Banker and OnWallStreet.com. |
CNBC: “Week Ahead: Stocks Oversold, But is Fear Overdone?” |
Member of the NYU Stern Executive Board Richard Bernstein (MBA '87) commented on stocks and employment data. |
MarketWatch.com: “Radio One, Inc. Announces Results of 2010 Annual Shareholders’ Meeting” |
Member of the NYU Stern Board of Overseers Ronald Blaylock (MBA '89) was highlighted for his election as a Class B director of Radio One, Inc. |
NorthJersey.com: “Top 10 Ranked Students are Well Rounded” |
Incoming NYU Stern undergraduate student Jake Wilson was featured as a "Top 10" student in the Clifton High School Class of 2010. |
About.com: “Business School Admissions – NYU Stern School Of Business Admissions” |
Executive Director of MBA Admissions Isser Gallogly was featured in a Q&A on the MBA admissions process. |
| Expert Commentary from Faculty |
Marketplace: “Negotiating Tactics for Women” |
Professor Sheila Wellington remarked on negotiating tactics for women discussing how different negotiations were in the 1970s. |
The Daily Beast: “WikiLeaks Founder Julian Assange is a Fraud” |
In an op-ed, Professor Tunku Varadarajan shared his thoughts on WikiLeaks Founder Julian Assange, stating that he was a fraud. Additional coverage on the WikiLeaks files appeared in another The Daily Beast op-ed. He also shared his thoughts on Charlie Rangle, the financial reform bill, Goldman Sachs and the SEC, the NAACP, the World Cup, the Chairman of the Republican National Committee and President Obama’s immigration speech and his appearance on The View in eight The Daily Beast pieces. |
CNBC.com: “Switzerland: The Little Economy that Could” |
Professor Joseph Foudy commented on Switzerland’s economy explaining that the Swiss place a large emphasis on diversification. |
Forbes.com: “Saintly or Satanic, Wall Street Keeps Growing” |
Professor Thomas Philippon observed that Wall Street’s share of the national wealth has been steadily rising. |
Investor's Business Daily: “Alexander Hamilton was on the Money” |
Professor Robert Wright shared his thoughts on Alexander Hamilton stating that the military unit he commanded gained the reputation of the most accurate in the Continental Army. |
Psychology Today: “On Paul the Octopus and the Human Penchant for Patterns” |
Professor Adam Alter commented on the human penchant for patterns using Paul the Octopus, who was used to predict the outcome of the World Cup, as an example. |
Investment Advisor: “Housing Starts Dropped Precipitously in June, Commerce Department Says” |
Professor Anthony Karydakis made an observation on the housing market stating that the tax credit induced a pick-up in home sales. |
TheStreet.com: “Dissecting Apple’s Mystique” |
Professor Priya Raghubir shared her thoughts on Apple’s brand loyalty, stating that they are doing something right. She also commented on student loan lenders using President Obama as a marketing tool on ProPublica.org and Marketplace. |
Financial News: “Systemic Risk Control: It’s Up to the Banks” |
Professor Roy Smith commented on financial reform noting that after two years of effort, Congress finally gave Obama the comprehensive Frank-Dodd bill to sign. Additional coverage of his thoughts on financial reform appeared in Fulton County Daily Report, El Cronista Comercial and Reforma. |
The Wall Street Journal: “Fight Now Looms Over Fannie, Freddie” |
Professor Lawrence White shared his views on recently passed financial reform legislation, stating that the Obama administration and Congress are not addressing the issues that led to the financial crisis. Additional coverage appeared in Marketplace, QFINANCE.com and BankInvestmentConsultant.com. He also commented on the Financial Crisis Inquiry Commission’s actions towards AIG in Reuters, and shared his perspective on Wall Street and its economic recovery in terms of hiring with the Spanish newspaper AVUI. |
The Wall Street Journal: “Experts Grade the Financial Legislation” |
Professor Nouriel Roubini commented on the new financial regulation legislation, explaining that it is unlikely to have a large impact because it does not address the causes of the financial crisis. Additional coverage appeared on TheStreet.com, Bloomberg, BBC blog, Barron’s blog and six outlets. He shared his thoughts on Greece’s public debt, the Eurozone’s economy and his global economic outlook in two Bloomberg pieces, four Bloomberg BusinessWeek pieces, three CNBC segments, four pieces on CNBC, two Financial Times pieces, two Fortune pieces, three Forbes.com pieces, Forbes.com blog, two Reuters pieces, ABC News, The Huffington Post, three The Globe and Mail pieces, PBS NewsHour, two AOL DailyFinance pieces and 19 outlets. He commented on unemployment benefits, stagflation, the threat of a double dip recession and how to avoid a recession relapse on ABC News, two The Huffington Post pieces, The Seattle Times, The Globe and Mail, Comedy Central's "The Daily Show and 18 additional outlets. He also commented on his ‘perfect’ summer in the Financial Times and New York Magazine blog. |
Financial Times: “Failures of the Frank-Dodd Act” |
Professor Viral Acharya provided his thoughts on the failures of the Frank-Dodd Act. Additional coverage appeared on MoneyMorning.com. He commented on regulation after the stock market crash in QFINANCE.com, and on boutique investment banks on Slate.com. |
The New York Times: “How to Tell a Nation is at Risk” |
Professor Edward Altman offered his expertise on how to predict a country’s susceptibility to risk, stating that studying the private corporate sector can help predict sovereign risk. Additional coverage appeared in The Atlantic and Risk.net. |
The Wall Street Journal: “FDR, Obama and ‘Confidence’” |
Professor Amity Shlaes explained what the White House can learn from FDR’s mistakes by looking at former US Secretary of Treasury Henry Moorgenthau, who started out in office with no confidence. |
Investor's Business Daily: “Beware the Pitfalls of Micromanaging Your Employees” |
Professor Batia Wiesenfeld described the pitfalls of micromanaging. |
Metro: “Renaming Stations is a Risky Business Plan” |
Professor Samuel Craig commented on renaming NYC’s subway stops after corporations, saying that companies might think twice about being associated with a troubled agency. |
Statesman.com: “Teachers' Pension Fund Faces Judgment on its Strategy” |
Professor Stephen Brown shared his views on investments for public funds stating that hedge funds should not be invested in lightly. |
Reforma: "Del Exito Global a la Catástrofe" |
Professor Irving Schenkler commented on BP's recent crisis communications. |
Bloomberg TV: “Dyson Says Apple Product Demand Spurred by Sleek Design” |
Professor Scott Galloway commented on the design of Apple Inc.’s products. Additional coverage appeared in The Washington Post. He also commented on his Digital IQ Index for China, created with colleague Douglas Guthrie, on BusinessofFashion.com and China Daily. |
The Big Money: “Checking in with Foursquare” |
Professor Nicholas Economides commented on social networks. He also reflected on the Greek debt crisis in an NHK Documentary. |
The Economist: “Why are Firms Saving So Much” |
Professor Xavier Gabaix observed that firms and households are saving so much because of macroeconomic risks, anticipation of tight credit constraints and anticipation of higher taxes. Professor Gabaix discussed his research in the area of executive compensation and offered his perspective on a new law that requires publicly traded companies in Japan to disclose compensation for executives making more than 100 yen in Asahi Shimbun. |
Forbes.com: “The Curse of Economic Uncertainty” |
In an op-ed, Professor and Dean Emeritus Thomas Cooley commented on fixing the global economy, saying that fiscal austerity is not the problem, but rather the lack of clarity is. In another co- authored Forbes.com op-ed, he stated that high unemployment is an indication that the recession is not yet over. His comments on the Fed’s role as a regulator were featured in The Wall Street Journal, Dow Jones, Automated Trader and UPI.com. |
The Huffington Post: “Anindya Ghose: Mobile Trends, Consumers and Social Media” |
Professor Anindya Ghose shared his thoughts on mobile trends, consumers and social media. Additional coverage appeared on FORA.tv. |
Seeking Alpha: “Applying the Equity Risk Premium in Valuations” |
Professor Aswath Damodaran reflected on applying the equity risk premium in valuations. He also shared his views on globalization and valuation and risk in 12 QFINANCE.com articles. |
The New York Times: “Economists Who Did Their Homework” |
Professor Richard Sylla commented on the relationship between economics and physics. He shared his thoughts on the merits of trading pit hand signals in The Wall Street Journal and The Wall Street Journal Europe. His book, A History of Interest Rates, was referenced on MarketWatch. |
The Wall Street Journal: “The Intelligent Investor: Should You Bet on Rising Risk?” |
Nobel Laureate Professor Robert Engle observed that there is a lot of uncertainty around forecasting volatility. |
India Abroad: "Mumbai Students Take Lessons on Renewable Energy From NY to India" |
Prof. Venkataramani Srivatsan highlights NYU Stern's Indian Leadership Exchange Program, which brought 40 undergraduate students from Mumbai's HR College and St. Xavier's College to NYU Stern last May to discuss renewable energy strategies. |
Marketing News Exclusives: “Twilight Marketer Digs Fangs Into Core Audience” |
Professor Al Lieberman reflected on the marketing behind the Twilight film series. |
The New York Times: “Panel Chairman Presses Goldman Sachs on Mortgage Bets” |
Professor Eric Dinallo provided his views on AIG’s problems, stating that it would have been better if the government had guaranteed AIG’s deals, but left them on their books. Additional coverage appeared in The Wall Street Journal and The New York Times blog. He shared his thoughts on forming an agreement between banks and bond insurers on TheStreet.com. He also commented on NYPD policy and his campaign for New York State Attorney General in Crain’s New York Business, NY1, Bloomberg, New York Daily News blog, The New York Observer SILive.com, City Hall News and DNAInfo . Additional coverage on his campaign appeared in two Wall Street Journal pieces, two New York Daily News pieces, three NY1 pieces, two Crain's New York Business, four New York Observer pieces, three New York Daily News blog pieces and 21 outlets. |
Irish TV |
Professor Gian Luca Clementi discussed the state of the economy in Ireland. |