In the Media

The Inquirer
Philadelphia, PA
Friday, September 22, 2017

The Enquirer Daily Philly.com

For recent Rutgers graduate Hasan Usmani, the sight of the vast Karachi slum was a shock, despite his family connections and previous visits to Pakistan.

The 8,000-acre Orangi Town, home to 2.5 million people, many of them refugees from Afghanistan and Bangladesh, is barely livable, the 23-year-old said. Lacking adequate sewer lines, its streets are awash in wastewater when it rains. One resident told Usmani her children shower only once a week so the family can afford food.

"I was surprised to see people living in these conditions and surviving," Usmani said.

He and three other fellow Rutgers Business School students at Rutgers University in New Brunswick — Hanaa Lakhani, Gia Farooqi, and Moneeb Mian — had gone there in May with a project in mind to help the slum residents: solar-powered rickshaws. It was a concept that had won a regional competition earlier. When they got to Pakistan, an even better idea emerged: a ride-share program to better connect impoverished residents of the shantytown to rickshaws, an Uber of sorts.

This month, their pilot program, Roshni Rides, snagged first place and $1 million in start-up capital in the prestigious Hult Prize competition, founded by Swedish businessman Bertil Hult and funded by his family. The award has been dubbed the Nobel Prize for students.

Among the runners-up? A team from Harvard.

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WBGO
Newark, NJ
Thursday, September 21, 2017

WBGO

Fashion changes at such a rapid pace in the 21st century, yesterday's styles can literally end up in a landfill.  Experts call it fast fashion.

"Fast fashion is essentially a global industry that creates clothing very quickly from design to production.  The clothing is designed to be disposable," says Mary Rizzo, author of Class Acts:  Young Men and the Rise of Lifestyles and one of four panelists on The Cornwall Center City Dialogues series at Rutgers Newark.

Kevin Lyons is from the Rutgers Business School Department of Supply Chain Management.  His research finds him scouring landfills across New Jersey.

"Archeology happening in real time and fast to me is very fascinating.  I think people would be shocked to find out that a piece of clothing that was sold in September has already found itself in the dumpster by April."

The overflow of textiles is making an environmental impact.  Lyons believes it''s a crisis flying under the radar.

"When you think about fast fashion, it's not of the highest quality.  We're talking about materials that aren't made in nature in some cases like polyesters and a whole host of chemicals made for things that are iron free.  They don't tell you how or why but it's formaldehyde that makes the material non-ironable.  It's a huge environmental disaster and even the making of it.  In some cases if it's made oversees, the regulations using certain types of chemicals are not as strict as if it was made in the United States."

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nj.com
Newark, N.J.
Thursday, September 21, 2017

Walgreens announced Wednesday it will acquire 1,900 Rite Aid locations, including stores in New Jersey and in New York. The acquisition brings a two-year process to a close, as the deal lingered while some worried how boosting Walgreens' store count could affect competitive pricing. But Mahmud Hassan, a professor of finance and economics at Rutgers Business School, said that's less of a concern to him, as he predicts the deal will force Walgreens and CVS to compete for customers and slash prices. 

Read the complete story: 



Fortune
New York, NY
Thursday, September 21, 2017

Fortune Magazine

Why Startup Founders Should Be Required to Sign a 'No Go, Bro' Clause
By Wayne Eastman and Andrea Marino

The recent resignation of Social Finance CEO Mike Cagney, in the wake of allegations that he sexually harassed female employees, fostered a frat house culture, and misrepresented the firm’s finances to investors, raises the question of what boards and investors can do to check misconduct by startup executives.
Startup CEOs like Cagney, Travis Kalanick at Uber, and Taylor Freeman at UploadVR—accused in a recent lawsuit of bragging with his co-founder Will Mason about how many girls they were going to have sex with at company parties, and designating a room at the office as a "kink room"—can destroy as well as create billions of dollars in value for their companies, all while creating toxic work environments.

Whether they resign like Cagney and Kalanick or remain with the company like Freeman and Mason, startup executives typically own a large percentage of company stock. That often leads investors and boards to treat them gently when it comes to sexual harassment allegations and other forms of misconduct—but it should not.

Wayne Eastman is a professor in the Department of Supply Chain Management at Rutgers Business School-Newark and New Brunswick. Andrea Marino is a corporate attorney and consultant.

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NPR
Washington, D.C.
Wednesday, September 20, 2017

NPR

On a stage at the United Nations headquarters in New York City, the young executives of six start-up companies made their final, feverish bids to win the coveted Hult Prize. Each had formed and launched business ideas over the last year that would try to solve this year's Hult Prize challenge – improving the well-being of at least one million refugees over the next five years.

One team pitched an enterprise to bring fast and reliable web services to refugees, and two companies sought to connect displaced people to jobs through apps and digital workplaces.

The winner this year is a startup called Roshni Rides, Bill Clinton announced at the end of the competition last Saturday. The former president, who began working with the Hult Prize in 2010, continued to speak but a roar of cheers drowned out his words. As he inched toward the stage, Roshni Rides CFO Moneeb Mian said in a breathless falsetto, "Oh, my God, we won."

Roshni Rides provides a private shuttle service dedicated to ferrying refugees from their homes to schools, work, hospitals and markets. "[The company] has an immediate impact and addresses one of the greatest needs, which is mobility. If you can"t be mobile, you are a prisoner," says Ahmad Ashkar, the founder of the Hult Prize.

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CNN
New York, NY
Tuesday, September 19, 2017

CNN

For millions of displaced refugees living in camps, the ability to survive and rebuild their lives often depends on transportation.

Without it, refugee families are unable to get to hospitals, send children to schools, go to local job centers, even shop for food and everyday necessities.

"Lack of transportation robs refugees of their dignity and ability to be self-sufficient," said Gia Farooqi, co-founder of Roshni Rides.

Roshni Rides, a startup launched by four students at Rutgers Business School, studied the problem and created a solution: a rickshaw transportation network that works like a ride-sharing shuttle service.

The rickshaws take passengers on preset routes to important destinations like hospitals, schools and markets.

Roshni Rides, a ride-sharing rickshaw service for refugees won the $1 million Hult Prize startup contest.

Passengers pay using pre-loaded cards, similar to the New York City subway system, said Farooqi.

The concept was presented on Saturday the annual Hult Prize competition, which challenges college students to tackle global problems.

Roshni Rides -- founded by undergraduate business students Gia Farooqi, Hasan Usmani, Moneeb Mian, and Hanaa Lakhani -- beat out five other startup finalists and earned $1 million in funding. The startup was one of 50,000 entries, up from 25,000 submissions last year.

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ROI-NJ
Monday, September 18, 2017

ROI-NJ

A Rutgers Business School team’s transportation plan to return dignity to millions of refugees garnered it the $1 million Hult Prize for social entrepreneurship this weekend.

The prize is often referred to as the Nobel Prize for students.

The four-person team beat out finalists from Harvard University's Kennedy School, the Instituto Tecnolo'gico Auto'nomo de Me'xico, the University of Waterloo, the University of Calgary and York University. The students were the first Rutgers team to make the finals, beating out 50,000 participants from more than 100 countries.

Roshni Rides — using the Hindi word for light — uses existing rickshaws and their drivers, preloaded transaction cards and ride-sharing to create "a transportation network that connects refugees to critical resources and opportunities," senior Gia Farooqi said during the team's presentation.

She, along with new graduates Hasan Usmani and Moneeb Mian, as well as alumna Hanaa Lakhani, found that 2 million rickshaws in Pakistan were underutilized — including most pickups having just one rider, leaving three seats empty — even though their research found that 80 percent of refugees want to go to the same locations.

They used surveys to set a schedule based on demand, fleet size and number of pickup locations, and encouraged ride-sharing, then conducted a two-month pilot in Orangi Town, Pakistan, home to 2.5 million refugees.

In that time, more than 130 riders cut their transportation costs by 53 percent, while the income of the four drivers increased by 27 percent.

Roshni Rides used a preloaded card, similar to the New York subway's MetroCard.

Full Article



QUARTZ
New York, NY
Monday, September 18, 2017

QUARTZ

E-commerce means more deliveries than ever will pour into the world's cities. By 2020, e-commerce sales are expected to rise 85%, auguring a flood of packages. With urban congestion bad and getting worse, how will we get all those packages?

High-tech solutions to last-mile delivery have been on the horizon for decades, say logistics experts. But instead of jet packs, mostly we have gotten Amazon lockers and more night-time deliveries.

McKinsey looked for answers by assessing more than 20 logistical solutions now within reach as part of its September report on urban commercial transport.

"Some of those things have been around for long time," says Rutgers Business School professor and supply chain management expert Rudi Leuschner. "The question is, can you actually line up everyone to make it happen?" The biggest challenge is replacing and modifying old systems. Physical infrastructure as well as economic barriers such as competing delivery firms present massive hurdles for cities wishing to overhaul delivery. "I don't see any huge changes" in the near future, predicts Leuschner.

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Newark, NJ
Monday, September 18, 2017

myCentralJersey.com

A team representing Rutgers Business School won the $1 million Hult Prize for social entrepreneurship on Saturday, capping 11 months of entrepreneurial effort with a polished, convincing pitch about the ability of its rickshaw transportation business to improve the lives of refugees overseas.

Senior Gia Farooqi, new graduates Hasan Usmani and Moneeb Mian, and alumna Hanaa Lakhani, all of whom are New Jersey residents, created the Roshni Rides startup as a way of answering the 2017 Hult Prize Challenge of developing a business capable of restoring the dignity of 1 million refugees by 2022. The company uses a pre-loaded transaction card, encourages ride-sharing and existing rickshaw drivers.

Their ability to persuasively pitch the idea to the Hult judges enabled them to beat out finalist teams from five other schools: Harvard University’s Kennedy School, the Instituto Tecnológico Autónomo de México, the University of Waterloo, the University of Calgary and York University.

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Fox Business
New York, NY
Sunday, September 17, 2017

Fox Business

Former President Bill Clinton awarded $1 million in seed funding to four Pakistani-American students who created a ridesharing rickshaw startup service to help refugees—especially women—travel to major points of interest in Pakistan.

The startup, called Roshni Rides, was developed by Rutgers University students who were participating in the 2017 Hult Prize Foundation competition that showcases more than 10,000 student volunteers in more than 500 on-campus university programs around the world. This year's challenge, which was issued by Clinton himself, was to find a way to restore human dignity and rights to millions of displaced people by 2022.

Full Article



Huff Post
New York, NY
Sunday, September 17, 2017

Huff Post

Four Pakistani-American students are one step closer to making their idea for tackling the global refugee crisis into reality.

The young entrepreneurs behind Roshni Rides, an envisioned transportation network to empower refugees overseas, on Saturday won the prestigious Hult Prize challenge ― which comes with a $1 million award in seed capital.

The Roshni Rides team is made up of recent Rutgers University graduates Hanaa Lakhani, Moneed Mian and Hasan Usmani, as well as CEO Gia Farooqi, who is on track to graduate from Rutgers later this year.

Farooqi, 22, said the refugee-focused challenge posed a politically poignant issue for her team. There was a lot of news coverage surrounding the Syrian refugee crisis when it was announced last October, she noted.

"Being Muslim, and feeling very connected to our global Muslim family, it just became something that was so much more than a competition," she explained.

Farooqi said it felt "very unsafe and almost uncomfortable" to be a Muslim in America after President Donald Trump's 2016 election campaign, which focused heavily on a ban to halt the entry of refugees and other citizens from predominantly Muslim nations into the United States.

Participating in the Hult Prize challenge to support refugees in Muslim-majority Pakistan and beyond afforded her a platform to represent the U.S. on a global stage as an American Muslim, Farooqi said.

"America is diverse and looks different," she added. "Anybody can help anybody, no matter what you look like."

Full Article



Fortune
New York, NY
Thursday, September 14, 2017

Fortune

The smartphone market is unique in that consumers have learned to expect new models every year from major manufacturers. This is a mixed blessing for the industry: The manufacturers are under great pressure to offer significantly innovative features every year; on the other hand, by constantly introducing new features and software updates, the industry has successfully persuaded consumers to ditch perfectly usable products and buy new ones every two years.

It is a great business model. Average repurchasing cycle of a smartphone (about every two years) is far shorter than average useful life of a typical smartphone (about 4.7 years). Moreover, consumers naturally expect to pay more for new and improved features in the new device, which allows the manufacturers to increase prices each year. No other industries can pull out the same trick.

A corollary is that the more innovative the new features are, the more a price increase can be justified. Add the name "Apple" to that, and you are forgiven to push the price envelope even further.

Professor Chan Choi is the Rutgers Business School marketing department vice chair.

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Newark, NJ
Thursday, September 14, 2017

The Daily Targum

Rutgers Business School was ranked among top 10 schools with the most diverse faculty in the United States, according to a survey conducted as a part of the Ph.D. Project, a project run by KPMG Foundation.

The survey covers the current academic year and it showed that, of the most diverse departments, North Carolina A&T had 22 black, Hispanic or Native American professors on faculty. Howard had 19, Florida A&M 15 and Rutgers 14, according to the data provided by The Ph.D. Project.

Professor Eugene Spiegle, an associate professor and undergraduate program director for supply chain management said the Business School places a great deal of importance on the diversity of its professors and faculty.

"In our department, we always look for a variety of persons. We don't want to be a university that is all white or all black or all Asian," he said.

He said the presence of diversity within the institution lends itself a learning curve that one does not get otherwise. This is why the department looks for professors with different work backgrounds to further the scope of learning.

Full Article



Piscataway, NJ
Sunday, September 10, 2017

The Daily Targum

The Rutgers Business School has climbed up in the rankings again, according to a recent report by Money that placed Rutgers 35th in the country for business, tied with Michigan State University and the College of William and Mary.

The ranking was based on quality, affordability and the career payoff.

"As you can see, Rutgers Business School is No. 5 – tied with Michigan State University – among the Big Ten schools and ahead of many elite business schools mentioned in this ranking, including the University of California–Santa Barbara, New York University, University of North Carolina–Chapel Hill and Boston University," said Lei Lei, Dean of Rutgers Business School.

Lei said the brand of Rutgers Business School attributed to the school's ranking.

"The brand of Rutgers Business School shows the unique strengths of our students and alumni. We pride ourselves on these values. Our students are resilient, resourceful and responsible," Lei said. "When companies know and appreciate the value of your brand, they come to hire your students."

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Asbury Park, NJ
Friday, September 8, 2017

Asbury Park Press

Fake news, coursing through websites and social media pages, isn't confined to politics. It is hitting businesses, too, forcing them to be on alert to douse deliberate misinformation before it affects their stock price or brand.

The potential for fake business news to go viral has prompted regulators and academics to search for ways to crack down on the publishers. For now, though, it is up to investors and consumers to ferret out what's real and what's fake.

"It's basically fraud," said John Longo, a finance and economics professor at Rutgers Business School in Newark and New Brunswick. "But if someone is anonymous, they might feel emboldened as a way of trading on it."

But the digital age has added urgency. Hoaxes can spread more quickly, and investors don't need the stories to linger long to make money; computer programs trade stocks by the second, Longo said.

Full Article



New York, NY
Friday, September 8, 2017

The New York Times

Over four decades, Mr. Dalio, 68, has built Bridgewater, which has $160 billion in assets, into the largest hedge fund firm in the world — bigger than the next two largest hedge funds combined.

He has also built an unusual and confrontational workplace at Bridgewater, where employees hold each other to account by following a strict set of rules that he created, "Principles."

All of the rules celebrate what Mr. Dalio calls "radical transparency" in the workplace, and the search for the ideal employee.

In an industry known for producing flameouts, the consistent returns have drawn investors to Bridgewater despite Mr. Dalio's idiosyncratic leadership style, which has included frequent management shake-ups. Most recently, Mr. Dalio ousted Jon Rubinstein, a former top Apple executive, in March after hiring him just 10 months earlier as the firm's co-chief executive officer, because he was not a "culture fit."

"It is a culture that is not for everyone but not one that would dissuade me from investing," said John Longo, a finance professor at Rutgers University School of Business.

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Forbes
Newark, NJ
Wednesday, September 6, 2017

Forbes

What Lyneir Richardson Has Learned About Failure and the Challenges for Minority Entrepreneurs

Lyneir Richardson wears two hats, as an entrepreneur and an academic. Since 2014, he’s been executive director of Rutgers Business School's Center for Urban Entrepreneurship and Economic Development, a program that supports women and people of color who are starting their own ventures.

He's also CEO of Chicago TREND, which offers financing and consulting to retail developers in Chicago's low-income neighborhoods.

Richardson's career has been marked by highs and lows. Early on, he ran his own Chicago real estate firm that first prospered and then crashed. Next, he worked for one of America’s most prosperous REITs, but lost his job when the financial crisis battered the firm. Then came a stint as head of economic development for the city of Newark, NJ.

In this interview, which has been edited and condensed, Richardson, 51, talks about what he learned from failure and why he believes African-American entrepreneurs should always make profits a priority.

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YoungUpstarts
Newark and New Brunswick, NJ
Wednesday, August 30, 2017

YoungUpstarts

Creating Effective Digital Habits for Yourself And Your Company

By Terri R. Kurtzberg and Jennifer L. Gibbs, co-authors of Distracted: Staying Connected without Losing Focus

As an entrepreneur, you will likely end up with two completely different jobs. One is to produce or offer something that the world values and thus create a line of revenue. But in addition, you also hope to end up in the position of having to manage other people, and thus will need to set the tone for a company as it grows and thrives, to decide what rules and behaviors will work best not just for you but for others who will look to you to make these kinds of decisions.

One of the tricky areas to get right in today's world is the balance between being connected to work through our wireless devices and protecting some pure time off. By now, this is probably a familiar tension for nearly everyone — while being able to keep tabs on work even while out of the office creates some impressive freedoms, it also strips us of having any reliable down-time, as emails and messages creep into our nights, weekends, and even vacations.

Some people defend this "bleeding" of work into home-life, stating that addressing things as they arise allows for so much more efficiency, and prevents a miserable stacking-up of messages and tasks upon return to the office.

Others just hate the intrusion and resent the colleagues and bosses who expect round-the-clock attention and fast response rates.

Many people feel pressure to keep up this pace only because others are doing so.

Terri R. Kurtzberg, PhD is associate professor of management and global business at Rutgers Business School, Newark and New Brunswick, NJ and Jennifer L. Gibbs, PhD, is associate professor of communication at Rutgers University's School of Communication and Information in New Brunswick, NJ. They are co-authors of Distracted: Staying Connected without Losing Focus.

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Fast Company
Newark, NJ
Thursday, August 24, 2017

Fast Company

The Center for Urban Entrepreneurship and Economic Development addressing the underrepresented minority entrepreneurs funding gap

The Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers Business School in New Jersey has been plugging away for years to help change that. This year, however, the organization launched two initiatives specifically designed to address the funding gap, after hearing from countless entrepreneurs who struggled to secure capital.

A three-month pre-accelerator called the Black and Latino Tech Initiative (BLT) offers founders of color mentorship and access to CUEED’s venture capital partners, including local accelerators at Newark Venture Partners and IDT Ventures. CUEED’s Pipeline to Inclusive Innovation (PII), on the other hand, aims to up the number of underrepresented scientists and inventors who take advantage of federally funded innovation and tech programs.

There are already about 20 to 25 companies between the two new programs, from a service that CUEED executive director Lyneir Richardson describes as "Yelp for reviewing landlords and property owners," to a diabetes test that uses a human teardrop.

"These folks have interesting ideas,' CUEED’s academic director Jeffrey Robinson says. "Certainly there are comparable ideas out there in the marketplace, and they get greenlit. It makes me wonder, why didn't these folks get greenlit? We're of the mind that we can better prepare entrepreneurs, no matter who they are, for entering accelerators, or getting that first level of funding, or supporting them as they go after these grants."

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BusinessBecause
Newark and New Brunswick, NJ
Tuesday, August 22, 2017

BusinessBecause

It may not come as a surprise to learn that the skillset required of soldiers on the battlefield—autonomy and uncertainty, self-sufficiency, and effective decision-making—makes them a natural fit for the boardroom.

With a whole host of financial resources available to veterans and military personnel at both the national and state levels, there's never been a better time than now to consider business school.

Rutgers' Office of Veteran and Military Programs and Services (OVMPS) collaborates with departments throughout the business school—and beyond—to ensure a "smooth transition and supportive environment" for student veterans. In addition, Rutgers Business School offers a Mini-MBA in Business Management for Veterans, developed to help student veterans and military personnel apply the "knowledge and skills of military training to a civilian workplace."

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