Experience Stern | News & Events

Excerpt from Fox Business -- “'Target and Walmart and a lot of these places have kind of established themselves as places you can go where you pretty much know you're going to get a good deal, that things aren't going to be so expensive,' Meyvis said. “So people sort of treat it like the grocery store, where they're just putting stuff in their cart.'”

Excerpt from Seeking Alpha -- "The second winner this week is from Prof. Aswath Damodaran, who graciously shares the tools used in his Stern School of Business MBA classes. I recommend his entire 'Viral Market Meltdown' series, but my focus today is on part V, Back to Basics."

Excerpt from Newsy -- “This kind of crisis can catalyze or even accelerate an ongoing change,” said Arun Sundararajan, author of "The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism."

Excerpt from Outlook India -- "A presentation delivered by Viral Acharya and his colleagues at New York University Stern School of Business said that COVID-19 has many similarities with Global Financial Crisis of 2008 and there are some stark differences as well. It also says that this is once-in-a-century pandemic emanated from Wuhan and has engulfed most of the globe."

Excerpt from Protocol -- "Sundararajan explained that the gig economy flourished after the last financial crisis, because people were 'more willing to experiment with new ways of earning money. Through that lens,' he added, 'I think that there are lots of ongoing technological changes that could be dramatically accelerated by the current crisis.'"

Excerpt from Luxury Daily -- "'Luxury brands need to be more comfortable with risk,' said Allen Adamson, cofounder of Metaforce and adjunct professor at NYU Stern School of Business, New York. 'The temptation from most consumers is that luxury can wait, I don't need to make a big decision right now,' he said."

Excerpt from NY Daily News -- "Lawrence White, a longtime economics professor at New York University’s Stern School of Business, said the new numbers don’t even stack up well against the Great Depression of the 1930s. 'In the 1930s, we went from full employment in 1929 to 25% unemployment in 1933. It took three and a half years. We’re going to be seeing a comparable descent from full employment to deep depression in three and a half weeks, by this rate,' White told the Daily News."

Excerpt from Wired -- “'China is building its soft power,' says Nouriel Roubini, an economist at NYU who was an adviser to presidents Clinton and Obama. 'They are going to use this crisis to say, ‘Our political system is better, our technological model is better, our economic model is better.’”

Excerpt from Grant's Interest Rate Observer -- "Altman hazards no guess about when this grandaddy of benign cycles will turn malicious. 'When both macro and micro market forces point to an unmistakable negative outlook, I except the next stressed credit cycle to produce default amounts that will be higher than any in the past due to the enourmous bond, bank and nonbank buildup, and the crisis may last longer than the previous one."

Excerpt from Adweek -- "The pandemic serves as a 'short-term shock,' said Joseph Foudy, clinical associate professor of economics at NYU Stern School of Business. Unlike a recession, there could be a turnaround in months, not necessarily years. 'If the recovery comes sooner than expected, they could find that it’s difficult to regrow,' Foudy said. 'It would be really inefficient to lay people off.'”

Excerpt from Retail Dive -- "Saks Fifth Avenue's flagship in particular, in the post-COVID era, will face what Serdari called 'an added, unwritten responsibility, which is what it means to define New York City retail on Fifth Avenue, luxury stores, across from Rockefeller Center. Even if times are tough for that parent company [HBC], that's worth exploring.'"

Excerpt from My Company Poland -- "It is surprising how little research is done to deal with this problem. It turns out to be quite complex. Julianna Pillemer, American psychologist from New York University Stern School of Business, the author of pioneering research into close relationships at work, wanted to answer some of the questions about the relationship between friendship and work. What are the basic features that distinguish friendship at work from other friendly or mentoring relationships? What is the difference between friendship between boss and subordinate and peer relationship? How is friendship with a person who you know 10 years different from the one that develops in the workplace?"

Excerpt from Yahoo Finance -- "The increase has spurred Amazon (AMZN) to hire an additional 100,000 workers to keep up with the demand, as Americans turn to the site for home essentials. And according to NYU Stern School of Business professor of marketing Scott Galloway, the greater reliance on Amazon will make it a far stronger company well after the coronavirus lockdowns come to an end."

Excerpt from The Verge -- "We’re continuing our Vergecast interview series remotely during the COVID-19 pandemic and this week, Verge editor-in-chief Nilay Patel sits down via Skype with Amy Webb, the founder and CEO of The Future Today Institute. Amy is also a professor at NYU’s Stern School of Business and recently came out with a book called The Big Nine: How the Tech Titans and Their Thinking Machines Could Warp Humanity."

Excerpt from Yahoo Finance -- "You can’t, until we get an exit plan from the new world the coronavirus has created. 'I think it [the economic recovery] will look very different. It will depend critically on the policies governments put in place,' explained former Bank of England governor Lord Mervyn King on Yahoo Finance’s The First Trade."

Excerpt from The New York Times -- "But there have been more sophisticated and sympathetic efforts, too, like the influential work of New York University’s Jonathan Haidt on the 'moral foundations' of politics: Haidt argues that conservatives actually have more diverse moral intuitions than liberals, encompassing categories like purity and loyalty as well as care and fairness, and that the right-wing mind therefore sometimes understands the left-wing mind better than vice versa."

Excerpt from Forbes -- "Below are tips Ronni and I came up with to help with a diverse range of audiences, both business and academic. Necessity is the mother of invention. I believe we’re all surprising ourselves with our abilities to adapt to teaching online in ways wouldn't have imagined as recently as 2 weeks ago, and finding it more satisfying than expected."

Excerpt from San Francisco Chronicle -- "'Generational shaming is a time-honored tradition,' said Michael North, a business professor at New York University who has researched the recent spate of media standoffs between Baby Boomers and Millennials. 'What’s taking place now is a symptom of our inherent generational divide, not a cause.'”

Excerpt from CNET -- "'For most of us, social media is a primary source of rapidly delivered news, updates from friends and a general method of connecting to the world,' said Adam Alter, an associate professor of marketing and psychology at New York University, who wrote a book about the addictive nature of technology. 'This is a unique situation,' he said of the pandemic, 'the fear of missing out on updates might be more extreme than it usually is.'"

Excerpt from NDTV -- “'In the gated communities and neighbourhoods of the larger cities in China, residents have organised small groups of volunteers via group chat apps to receive supplies at the gate for the whole community, box them for each household, and deliver them to people's doorsteps,' said Anindya Ghose, Heinz Riehl Chair Professor of Technology, Analytics and Marketing at NYU Stern School of Business. 'This is almost certainly something that can be done in many parts of India as mobile text messaging apps are also very popular in India and can enable this kind of grassroots coordination in large housing complexes and gated communities of India.'”

Excerpt from Science Magazine -- "Eberhardt’s studies are 'strong methodologically and also super real-world relevant,' says Dolly Chugh of New York University’s Stern School of Business, a psychologist who studies decision-making."

Excerpt from VoxEU -- "The COVID-19 pandemic is a two-pronged health and economic crisis, and requires a two-pronged response. Ahead of an extraordinary meeting of G20 Leaders, this letter signed by 20 economists and global health experts has one simple message: this crisis is global and requires unprecedented cooperation across countries and disciplines."

Excerpt from Reuters -- "Former Bank of England Governor Mervyn King said on Monday that the economic challenge facing Britain was tougher than during the 2008-09 financial crisis and that public borrowing was likely to rise significantly. But he warned against viewing the coming economic downturn like a conventional recession or depression. 'In order to deal with a health crisis, the government is deliberately pressing down on economic activity ... and at some point there will be a rebound,' King said."

Excerpt from Marketplace -- Professor Arun Sundararajan explains why the reliance on full-time employers to deliver safety-net benefits for workers had been breaking down long before the current coronavirus crisis, noting the need to refashion the social safety net.

Excerpt from Luxury Daily -- "'Reinforcing the heritage of Dior's perfumes and how far back the brand's relationships with the flower farmers in the Grasse area go is one of the goals of this campaign,' said Thomaï Serdari, founder of Brand(x)Lux and director of fashion and luxury MBA and professor at NYU Stern, New York."