Experience Stern | News & Events

Excerpt from The New York Times -- "'They are concentrated in the hardest part of the business,' said Roy C. Smith, a former partner at Goldman who is now a historian of the financial industry at New York University. 'In terms of the modern life of the place, this is the most difficult ordeal to manage its way through that the firm has ever faced.'"

Excerpt from Bloomberg -- "Critics such as Roy Smith, a professor at New York University’s Stern School of Business, say prosecutors were driven by 'political fever' to extract massive penalties from Wall Street. 'They have to deliver something, so they come up with this,” said Smith, a former Goldman Sachs Group Inc. (GS) partner. 'The fact that it’s unfair never really gets considered. The banks have no choice but to hunker down and accept it.'"

Excerpt from Bloomberg -- "The best thing about the American economy is that it is structurally flexible, so the private sector is actually adjusting pretty fast. But we need very heavy investment infrastructure, education, skills, and other things to try to bring the lower half of distribution up."

Excerpt from The Huffington Post -- "The Stern School of Business has joined with Global Spiritual Life at NYU, with support from the Lenz Foundation, to introduce the NYU Mindfulness in Business Initiative. The first event of the year featured Dan Harris, best-selling author and co-anchor for ABC's Nightline. Being in business school, I expected Harris's recommendations for mindful living to consist of checklists and frameworks. Instead, he shared with us his path to meditation, and the clarity he's found as a result. He made no promises, but offered a convincing case about the value in stepping back and gaining the presence of mind to become aware of thoughts and impulses before acting on them."

Excerpt from The Wall Street Journal -- "Iconic, charismatic leaders can excite investors, and boost innovation during their tenures. But the 'great man' approach can lead to stymied growth or worse, once the guy heads for the door, said Karen Brenner a professor at New York University Stern School of Business. 'You never want to let it get to a point that the company’s leader is seen as its core operational strength,' Prof. Brenner said."

Excerpt from Bloomberg Businessweek -- "This combination, a more robust and resilient LIBOR for transactions that require a reference rate with a bank credit risk component and the development of an alternative reference rate for transactions like interest rate derivatives that don't, will strengthen our financial system and help undo some of the damage caused by earlier transgressions."

Excerpt from Financial Times -- "At NYU Stern, MBA students work with growing businesses within New York City’s fashion industry through a masters workshop with the Council of Fashion Designers of America. Paired with designers, they advise on finance, product market strategies and business plans. MBA student Laura Musano recently completed the workshop, working on a project for handbag collection Kara. 'I really liked that it opened up two-way learning,' she says. 'Not only could we use our skills but it felt like we were really helping the business grow.'"

Excerpt from Fox News -- "Alvin Lieberman, a marketing professor at NYU and director of the school’s entertainment, media, and technology program, sees fierce competition for The Players’ Tribune. 'Jeter has to fight among the 200-plus cable channels and the many thousands of social networks,' he told FoxNews.com. 'Will he make an impression? Yes. The question is, how long will it last?'"

Excerpt from The New York Times -- "Indeed, scholars find that some of the most elemental differences between liberals and conservatives occur on the moral plane. In his now famous research, New York University’s Jonathan Haidt interviewed hundreds of people and surveyed tens of thousands more about their moral biases. He told outlandish stories (one involved a family eating its dog) and gauged his subjects’ immediate moral reactions. The differences were stark."

Excerpt from the New York Post -- "'It was a pretty good report,' said Joseph Foudy, a business professor at New York University. 'The fact that job growth was in a range of sectors tells you it’s not just a one- or two-industry story.'"

Excerpt from Bloomberg Businessweek -- "'Our goal is to make it clear to those who are entering their career with MBAs that business is a place for them, and that they should be proud to be out,' says Matt Kidd, the executive director of Reaching Out MBA. So far, the business schools at Columbia, University of Chicago, Northwestern, Dartmouth, MIT, and NYU have all agreed to fund one of the scholarships, which will be called Reaching Out MBA fellowships."

Excerpt from Politico -- "An Internet roundtable was held focusing on the economics of the issue, and Chairman Tom Wheeler put forth an interesting question: 'Is there difference between prioritization and paid prioritization? Does the exchange for value change the economics?' he inquired in front of a panel of economists. It’s unclear if they got to the bottom of it, but Nicholas Economides, an NYU professor and executive director of the NET Institute, gave this answer: The ISPs have to prioritize their networks to run smoothly, he explained. 'The payment is the crucial thing because the payment can create disincentives that I think are perverse from the point of view of the public interest, but they are perfectly natural from the business point of view. From the business point of view, it makes perfect sense to create artificial scarcity and make more money.'"

On October 2nd, over 30 Stern students and administrators descended on San Francisco for the Annual Reaching Out MBA (ROMBA) Conference. The weekend came on the heels of good news from the Stern Administration announcing an LGBT fellowship, and included Stern-facilitated admissions, alumni, and career events.

Excerpt from PBS NewsHour -- "Uber’s creating a platform that’s replicating the traditional model of taxi, just doing it far more efficiently."

Excerpt from MyFoxNY -- "There's a lot of good that's come out of the 1999-2000 dot com bust. Ecommerce is what it is today because of what we have learned from the mistakes in the past. There is collateral damage. Sure, investors lost, but society benefited."

 

Excerpt from Bloomberg -- "Yesterday’s gap was $9.23 billion, according to data compiled by Bloomberg. The shortfall reflects an estimate by Damodaran, the author of four books on company valuation, that Yahoo has $8.02 billion in cash. The discount is a sign of 'investor concerns, merited or not, that Yahoo’s management might do something senseless with the cash,' he wrote two days ago in a posting on his Musings on Markets blog."

The directors of the Center for Business and Human Rights at the New York University Stern School of Business, Michael Posner and Sarah Labowitz responded to the Obama administration’s announcement that it would begin the process of writing a national action plan to examine the impact of business on global human rights in a letter to President Obama.

On October 2, William C. Dudley, president & CEO of the Federal Reserve Bank of New York, stressed the importance of restoring confidence in reference rates in a public speech at NYU Stern.

Excerpt from Greek Reporter -- "The strategy that leads Greece quickly and with certainty to growth and reduction of unemployment is simple. Greece borrows €5bil per year issuing new bonds and uses all the moneys in public investments. Greece does not put a single euro from these moneys in the general budget, and the money is not wasted to 'pay' the IMF, which would send inspectors to Greece even if it extends no further loans. With some attention and care, Greece can reach a 3-5% growth in 2015 and higher in 2016. And by the end of 2016, this growth would result in 600,000 new work positions."

Two teams of NYU Stern MBA students were honored at the Turnaround Management Association Annual on September 30 for winning first and second place in the 11th Annual Carl Marks Student Paper Competition.

Excerpt from PBS NewsHour -- "Occupy Central has now become Occupy Hong Kong. As of tomorrow it’s likely to become Occupy larger than that. And if the — if local police, through threat and selective arrests, are unable to disperse these demonstrations, we’re likely to see a very significant violent crackdown."

Excerpt from Bloomberg -- "'It’s six years after the crisis and they are still facing continued litigation, so if you were in that foxhole wouldn’t you do something?' said Roy Smith, a finance professor at New York University’s Stern School of Business and a former Goldman Sachs partner. 'You protect yourself by causing these restrictions.'"

Excerpt from Project Syndicate -- "Global markets have not reacted for several reasons. For starters, central banks in advanced economies (the United States, the eurozone, the United Kingdom, and Japan) are holding policy rates near zero, and long-term interest rates have been kept low. This is boosting the prices of other risky assets such as equities and credit."

Excerpt from Bloomberg -- "[PayPal] has been the crown jewel. This is what CEOs like. They like to be diversified with a number of assets in case one property underperforms, but here's the deal. Investors don't need CEOs to diversify for them. They can diversify on their own. They need to be accountable for one business with one core mission and one core brand and let the best assets go out on the marketplace and get the shareholder return they deserve. The biggest winners here are Icahn because he's going to do a victory lap, and not only that, the people who work specifically on PayPal who will now get options on PayPal stock."

Excerpt from CNC World -- "Tim Cook is gonna have a good legacy, I may even say great legacy. In the sense that a lot what we are seeing is still inventions during Steve Jobs' presence... technology takes a while for products to come out, so what we are seeing are possibly a lot of influences from Steve Jobs, but I wouldn't take credit away from someone like Tim Cook, I'm pretty positive that he will have an amazing legacy as well, especially with wearable technology."