Experience Stern | News & Events

Excerpt from Quartz -- "'The announcement of charges is an important first step toward accountability,' Labowitz told Quartz. 'But there is still a long way to go before anyone is brought to justice.'"

Excerpt from Luxury Daily -- "'Maria Grazia Chiuri and Pierpaolo Piccioli are a modern version of what used to be the lone creative genius, which Valentino, the man, and other great couturiers used to be,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'Today, we see a much more collaborative approach to creativity even in the great famed houses of high fashion.'"

Excerpt from The Atlantic -- "The [visual] comes courtesy of NYU urban scholars Solly Angel and Patrick Lamson-Hall. It tracks neighborhood population densities on the island from 1800 to 2010 using historical maps, aerial photographs, and census ward statistics. The basic narrative sees density cluster first in Lower Manhattan, then slowly reach northward and spread out more evenly, then generally subside closer to modern times—waves of growth that, spliced back to back, make the city seem like it’s breathing."

Excerpt from Bloomberg -- "Companies that loaded up on debt during the credit boom of the early-to-mid-2000s were more likely to fire workers and shut down stores once the 2007-2009 recession hit than were companies that hadn’t levered up, according to a National Bureau of Economic Research working paper issued in April. That’s because they couldn’t raise additional funds. The weakened balance sheets among the more highly levered firms were 'instrumental in the propagation of shocks' during the crisis, Xavier Giroud and Holger Mueller wrote in the report."

Excerpt from CNBC -- "What would a good deal contain? Besides the fiscal issues, a good deal should emphasize the microeconomic reforms. It should reduce the huge and inefficient state sector that weighs down on the private sector and the taxpayers. Pensions should become proportional to contributions. The procurement mechanisms of the state should become competitive so that lower prices are achieved and corruption is reduced. Greece should proceed with the privatization of trains, airports, ports, and the energy sector. The "closed sectors" (such as pharmacies) should be opened to competition. The labor market should be liberalized. The business taxes and bureaucratic procedures should be reduced to attract new investment."

Excerpt from The New York Times -- "'Who are brands obsessed with? High-income teens and people in their 20s,' said Scott Galloway, a New York University marketing professor and chairman of L2, a research firm that studies how consumer brands use social media. 'Those people are leaving Facebook. Where are they going? Instagram. Facebook has shored up its rear flank with this important cohort with Instagram.'"

Excerpt from Al Jazeera -- "More important, in the last 20 years the Council of Europe has dramatically expanded to include more than two dozen members from the former Soviet bloc and elsewhere. Many of these relatively new democracies still struggle to build national systems that can reliably protect their people. It is also for the people in these places that the United Kingdom needs to keep its seat at the table and be a leader, not a outlier, and work to strengthen the protection of fundamental human rights throughout Europe. Cameron may wish to exert his nationalist bona fides after his electoral victory, but jettisoning Britain’s European human rights commitments isn’t a productive way to do so."

Excerpt from The Real Deal -- "Investors have poured more than $3.7 billion into several dozen projects around New York City via the EB-5 program since 2009. And while the industry lacks a comprehensive database, The Real Deal zeroed in on some of the city’s largest and most notable projects to date, using data culled by researchers at New York University and referenced in a report by Professor Jeanne Calderon and attorney Gary Friedland."

Excerpt from Macleans -- "'People are very impressionable,” says Thomaï Serdari, an adjunct associate professor at New York University’s Stern School of Business. 'Everyone is adding the adjective of luxury. You see this all the time with condos. They’re advertised as luxury, but you walk in and the walls are so cheap.'"

Excerpt from The Hill -- "Once out in the light of day ISDS [Investor State Dispute Settlement] will perish. This is the outcome that 'fast track' seeks to avoid. We have here a dagger aimed at the very heart of democracy. We should not give up our national system of laws based on a constitution and a long legal history. We should reject 'fast track,' and if we fail at that we should fight on and reject TPP [Trans-Pacific Partnership]. TPP ties together a contentious trade pact with a process to protect corporate profits that is above our democratic processes. We should stand up for democracy."

Excerpt from Eyewitness News -- "Marketing professor Michelle Greenwald said Americans are beginning to become more aware of their health, looking for natural foods without artificial ingredients. She said customers are even willing to pay more for healthier products. 'Getting back to more natural ingredients,' she said. 'It’s a quality of life issue that’s kind of an affordable indulgence.'"

Excerpt from Harvard Business Review -- "Work by Max Bazerman and Dolly Chugh on the concept of 'bounded awareness' has identified two common decision-making errors related to managers’ use of information. First, managers often overlook information that could improve their decision-making....Second, managers often allow information that is irrelevant to the decision at hand to influence their choice."

Excerpt from Los Angeles Times -- “'They see this as a necessary step to maintain the attractiveness of Bangladesh as a source country, particularly for the U.S. and European markets that are strategically important to the industry,' said Sarah Labowitz, co-director of the Center for Business and Human Rights at New York University’s Stern School of Business. 'The brands need Bangladesh too, because no other country can compete on volume and cost,' Labowitz said. 'So we are at a moment where dramatic change is possible because it’s in the interests of both Bangladesh and international companies.'"

Excerpt from Marketplace -- "'It’s unlikely that any of these folks will end up in retail or merchandising,' says Scott Galloway, a clinical professor of marketing at NYU's Leonard N. Stern School of Business, of the candidates offerings, regardless of party affiliation. 'These aren’t what I’d call an inspiring product mix.'"

Excerpt from NPR -- "We're democratizing access to a higher standard of living, in some sense. ... I think that's how a lot of people first felt when they started using Uber... black car on demand... and now it's sort of extended to a whole slew of other slices of our lives."

Excerpt from OZY -- "They studied how public information about employees’ performance affected a company. And often, it affected teams poorly...What Blader and company looked at in particular, though, was whether employees fared better if they had heard about only their own performances or if they’d heard about themselves in relation to others. 'There’s an assumption that if we drive competition, we automatically elevate a group’s performance,' Blader says. Turns out that’s true only sometimes...Moral of the story: Dial down on nailing the data theses to the door if you work in 'a context where people build tight bonds with one another,' Blader says."

Excerpt from Forbes -- "The new IMF study quantifies the direct cost to U.S. economic growth of an oversized financial sector: 2% of GDP per year. In other words, if the financial sector were the proper size, the U.S. economy would be enjoying a normal economic recovery of 3% to 4% per year instead of the dismal 1% to 2% of the last few years. The IMF study builds on earlier important work, including studies by Thomas Philippon at New York University..."

Excerpt from Project Syndicate -- "This combination of macro liquidity and market illiquidity is a time bomb. So far, it has led only to volatile flash crashes and sudden changes in bond yields and stock prices. But, over time, the longer central banks create liquidity to suppress short-run volatility, the more they will feed price bubbles in equity, bond, and other asset markets. As more investors pile into overvalued, increasingly illiquid assets – such as bonds – the risk of a long-term crash increases. This is the paradoxical result of the policy response to the financial crisis. Macro liquidity is feeding booms and bubbles; but market illiquidity will eventually trigger a bust and collapse."

Excerpt from The Wall Street Journal -- "Martin Gruber, an emeritus professor of finance at NYU and a co-author of the study, says that investors should take note if one of those underlying funds is new or has relatively high fees.“The burden of proof,” Mr. Gruber says, “should be on the target-date fund why those funds are in there.”
 

Excerpt from Financial News -- "The rebound in trading revenues should not tempt banks that have decided to retreat from the area to reconsider that choice. The giants of fixed income, currency and commodities that profited so handsomely in the quarter from their constancy to trading, still face long-term performance issues in the post-crisis market-making business."

Excerpt from Reuters -- "Aswath Damodaran, a valuation expert at New York University, says the auto industry qualifies as a 'bad business.' ... Not only is the industry globally not generating a return on invested capital equal to its cost of capital, which Damodaran calculates at 7.53 percent in 2015, but has only done so once in the past 10 years. There are, according to Damodaran, four main strategies for bad businesses: sell up; starve it and take cash out; close your eyes and hum; or, finally, restructure aggressively."

Excerpt from Bloomberg -- "You're talking about media plans that take years to plan. ... Also, I think a lot of different sports agencies are looking at the brands, how they're going to respond. So I think it'll be a measured, slow unwinding. But I do think they're going to withdraw from this."

Excerpt from The New York Post -- "'Wall Street has changed,' Viral Acharya, a finance professor at New York University, told The Post. 'The incentives, and the ability, to leverage through the regulatory cracks, that ability has been shrunk dramatically, however imperfect Dodd-Frank might be.'"

Excerpt from The Wall Street Journal -- "Nouriel Roubini, an economist and a professor at New York University, told the gathering that central banks have no choice but to pursue this loose policy, although it will certainly eventually lead to bubbles, because a fast tightening of monetary policy isn’t an option either, said the official."

Excerpt from VICE -- "Anindya Ghose, co-author of that study, believes that online dating apps have had a similar effect. 'Basically what the Internet does is makes it a lot easier to find a casual partner,' he told VICE News. 'Without the internet you'd have to put effort into casual relationships, chatting with someone at the bar or hanging out in places, but these platforms make it a lot more convenient and easy. That's essentially what the primary driver is.'"