In the Media

New York, NY
Thursday, May 11, 2017

BloombergBusinessweek

When Sarah Rumbaugh enrolled at the University of Virginia Darden School of Business in 2013, she planned to launch her own business soon after graduation. The MBA, she figured, would provide her with the skills to help her do that and build a network of contacts. Darden's program, which includes an incubator for student-run startups, venture capital workshops, and design courses, appealed to her. "If someone taught you how to play basketball from a textbook, you wouldn't learn to play basketball," she says.

Top Schools for Entrepreneurs

Rumbaugh followed through on her plan a year before completing the program. In 2014 she co-founded RelishCareers.com, a recruiting platform that matches graduate degree recipients with employers. Over the past three years the venture has received $1.2 million in funding—she declines to name the investors—and has landed several big clients, including American Express, L'Oreal, and Under Armour.

Full Article



GlobeSt.com
Las Vegas, NV
Wednesday, May 10, 2017

Globe St.

For the 13th year in a row, Lyneir Richardson, executive director of Center for Urban Entrepreneurship and Economic Development at Rutgers Business School, will be attending the upcoming ICSC RECon [real estate] conference in Las Vegas.

Richarson said: "Rather than having a transactional mindset and packing my schedule with back-to-back meetings, I'll approach the 2017 show in the same way that I approached the 2009 RECon during the Great Recession.

"Back then, I was there for education and revelation:  I went to the RECon plenary sessions, seminar sessions, and breakfast roundtable discussions to try and make sense of the new, unstable, and strange world that we were facing.  This year too, I want listen to and learn from experts and outsiders so I can understand what the heck is happening out there.

"The reason for the shift in my POV is the current shaky state of American retail.  To say that the robust shopping industry that so many of us fell in love with is under siege is an understatement."

Full Article



NJBIZ
Newark, NJ
Tuesday, May 9, 2017

NJBIZ

For the first time, Rutgers Business School will have a woman holding an endowed chair, it announced Monday.

Simi Kedia, a member of the finance and economics faculty who has held the rank of full professor since 2012, will now hold the Albert R. Gamper Chair in Business, the university said in a news release.

Kedia, known for her research on corporate governance and corporate fraud, has been published in prominent academic journals and quoted extensively in the mainstream media, according to professor Ivan Brick, chair of the finance and economics department.

Full Article



New York Times
New York, NY
Sunday, May 7, 2017

New York Times

Congratulations to this year's award-winning students and to all of our 18,000 graduates.

studentachievement.rutgers.edu 

1st PLACE
College Fed Challenge
Federal Reserve Board


1st PLACE
CME Group Trading Challenge
Chicago Mercantile Exchange


1st PLACE
Cross-Examination Debate Association National Tournament
and National Debate Tournament


1st PLACE
Regional Hult Prize Challenge
Hult International Business Schooland Clinton Global Initiative



New York, NY
Wednesday, May 3, 2017

Daily Times Leader

Eighteen MBA students – selected from close to 1,000 worldwide – have won a share of nearly $35,000 in scholarship money by tackling a real-life business challenge at the intersection of corporate profitability and positive social and environmental impact.

Through the Aspen Institute's Business & Society International MBA Case Competition, along with lead partner BNY Mellon, students representing 25 top business schools analyzed a brand new case study, authored by the Yale School of Management, about the IBM Corporate Service Corps (CSC). Founded in 2007, IBM CSC had become the largest pro bono consulting program in the world sending nearly 500 IBM employees each year to consult with organizations in countries all over the globe.

1st Place: Northwestern University, Kellogg School of Managemen

t2nd Place: Duquesne University, Donahue Graduate School of Business

3rd Place: New York University, Stern School of Business

4th Place: University of Jyvaskyla, School of Business and Economics (Finland)

5th Place: Boston University, Questrom School of Business

Honorable Mentions were awarded to five additional teams (in alphabetical order):

Millsaps College,

Else School of Management

Rutgers Business School

University of Chicago, Booth School of Business

University of Denver, Daniels College of Business

Wilfrid Laurier University, Lazaridis School of Business & Economics (Canada)

Full Article



CNBC
Englewood Cliffs, NJ
Friday, April 28, 2017

In the 2017 CNBC Stock Draft, Karn Dalal: The Rutgers All-Stars choose their second-round draft pick: Pfizer (PFE)

Karn Dalal, The Rutgers All-Stars second choice stock: Pfizer

LIBOR Stocks


Morningstar
San Francisco, CA
Thursday, April 27, 2017

Morningstar

Uber Technologies Inc., in its search for a No. 2 to Chief Executive Travis Kalanick, is interviewing candidates with track records in large, established companies -- a sign the ride-sharing titan is looking to temper Mr. Kalanick's idiosyncrasies in exchange for a corporate culture more typically in tune with its size and ambitions.

"There is a point when you go from an entrepreneurial fly-by-the-seat-of-your-pants startup to a professional organization that needs all the structure and bureaucracy that goes with it," said Michael Barnett, professor of management at Rutgers Business School, "and they are big enough in terms of most measures to need that."

Full Article



The Star Ledger
Montclair, NJ
Wednesday, April 26, 2017

The Star Ledger

Colleen Carlee, a former Wall Street trader, was looking to start her own business when she came across what she thought was an unusual franchising idea that paired art lessons with drinking wine.

Not long afterward, she opened up her own Pinot's Palette franchise in Montclair, a "paint and sip" studio that hosts wine and painting classes as well as and private parties.

The brainchild of a two friends from Houston batting around potential business idea, Pinot's Palette now has more than 180 studios open or under development, including Carlee's business on Bloomfield Avenue.

"I didn't have experience in opening a business. It was a little daunting to me," recounted the Verona entrepreneur, who had no background in art. "But a franchise is different. They gave me a roadmap."

There are hundreds of retail franchises in New Jersey, from big, iconic fast food operations with familiar golden arches, to Carlee's downtown studio.

It's all big business. The U.S. Small Business Administration said, franchising loans accounting for 11 percent of the SBA's $806 million in loan approvals in New Jersey last year.

That represented 160 loans totaling $86.4 million in fiscal 2016, said a spokesman. In this fiscal year, it has so far approved 71 franchise loans for $32.3 million.

Elayne McClaine, regional director of the N.J. Small Business Development Center at Rutgers Business School-New Brunswick, said franchises offer more than just a roadmap.

It is far easier to get financing for businesses that have an operating history, she said.

"That's the cold reality," remarked McClaine. "No bank is going to lend money to someone without a track history. You can have an idea with the best intentions. But most people in the lending business want to see financials in place."

Full Article



NJ1015.com
Trenton, NJ
Tuesday, April 11, 2017

What’s the logic in setting up shop so close to a competitor if you're a retailer? Why not move a mile up or down the road and separate yourself from the pack? According to Sandy Becker, who teaches marketing at Rutgers Business School, while the incoming brand (Quick Chek, in this case) would, of course, love to take some business from the existing brand at the same intersection (Wawa), moves like these are made with the consumer in mind. "It’s also an opportunity for the competitor to be viewed as one of the many brands to be considered," he said.

Read the whole story:

Marketing


San Francisco, Calif.
Monday, April 10, 2017

Overall, 49 schools participated in our 2nd annual “Best & Brightest.” The class is a potent mix of dreamers and doers, who alternated between leading and serving as well as creating and sustaining. This year’s Best & Brightest come from all walks of life. You’ll find class presidents and homecoming kings alongside all conference athletes, budding entrepreneurs, and scholars with unblemished GPAs. They honed their business acumen from growing up in the family business, watching Shark Tank re-runs, and competing in Model UN. On the 2017 list are students Lauren Kelly and Zoe Makropoulos from Rutgers Business School-New Brunswick and Chanel Clarke and Jorge Paneque from Rutgers Business School-Newark.

Read the piece:



ozy.com
New York City, N.Y.
Monday, April 10, 2017

During the presidential campaign, Donald Trump proposed using federal disaster declarations to free up funds for developing new infrastructure, razing blighted buildings and increasing law-enforcement presence. There’s been no follow-through so far, but given the recent stumble on health care, the White House might want to prioritize an initiative that could yield a bipartisan win. Count Lyneir Richardson among the optimists. Richardson, the executive director of the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School, says it’s time to ditch training programs for specific jobs in favor of entrepreneurship guidance that gives strivers the tools to start businesses or side hustles.

Read the full story:



Poets&Quants
Oakland, CA
Friday, April 7, 2017

Poets&Quants

Most people picture business leaders in form-fitting suits and pulled back hair. It can be hard to imagine a time when they were breaking out dance moves, singing a cappella, or fretting over their futures. Go back to their college years and you’ll find they were no different than today’s students.
Just look at PepsiCo CEO Indra Nooyi, who once rocked out as the guitarist in a band. How about Blackstone CEO Steve Schwarzman, the founder a ballet appreciation club at Yale? Before Facebook COO Sheryl Sandberg turned "Lean In" into a rallying cry, classmates remember her for racing around Harvard in sweat shirts and leggings.
As students, they sparked discussions, spearheaded initiatives, and racked up accolades. They challenged conventions, overcame odds, and built communities. You’ll find this same spirit in Poets&Quants’ top business majors from the Class of 2017. They are a class of catalysts and volunteers, ambassadors and difference-makers who took 100 different paths to the graduation stage.


Newark, NJ
Thursday, April 6, 2017

The Newark Times

The Newark Times recently sat down with Dr. Bonita Vesey and Alexander Sannella, an associate professor at Rutgers Business School-Newark to learn about the new P3 Collaboratory (Pedagogy, Professional Development, and Publicly-Engaged Scholarship)being implemented in conjunction with Association of College and University Educators to take a new approach to professional development among students and the professoriate.

In an especially eye-opening discussion, Dr. Vesey and Professor Sannella both spoke on the enlightening experiences they've been having in the classroom, new techniques they've learned and been able to implement, old techniques they've unlearned, and the immediate response they're seeing from students.

Newark Times video

Rutgers University-Newark News full article



Big Ten Network
Newark, NJ
Monday, April 3, 2017

Big Ten Network

Orangi Town is a community of over 1,000,000 inhabitants, mostly refugees, in northwestern Karachi, Pakistan. Originally a squatter village, Orangi has seen its share of ups and downs, notably the Orangi Pilot Project, a social innovation program seeking to provide low-cost sanitation, housing, health and microfinancing opportunities to residents.

The crowded area is nonetheless plagued by a variety of problems. Among the most pressing is access to clean, reliable, affordable transportation. As of now, packed buses and expensive taxis provide the only means of motorized transit through Orangi Town, leaving citizens with few options when they need to get to work, school, markets, hospitals and other crucial resources.

A team of Pakistani-American Rutgers Business School students – and one alumnus – is looking to change that with the rollout of their company Roshni Rides, which aims to provide electric-powered rickshaw transportation service to Orangi Town.

The team's efforts have been bolstered by a spate of good showings in business plan competitions, the most recent and prestigious being the regional Hult Prize Challenge, where Roshni beat out teams from Yale and Princeton among others.

The Hult Prize recognizes student's sustainable start-up business models that target major global challenges. This year, the Hult Prize Challenge zeroed in on the plight of refugees worldwide. 

Full Article



Woodbridge, NJ
Friday, March 31, 2017

mycentraljersey.com

Attention shoppers: there is a new outlet store with designer deals in town, but it has a familiar name.

And shoppers willing to brave Friday's windy, rainy weather got a sneak peek at Macy's Backstage The Outlet Store, on the third floor of Macy's at Woodbridge Center, which officially opens Saturday, April 1. 

The Backstage opening comes amid last month's Macy's announcement to close 68 stores, including three in New Jersey but not Central Jersey.

Marc Kalan, Rutgers Business School assistant professor of marketing, said it's an interesting concept what Macy's is doing, opening an outlet store within an existing store.
"If it draws traffic into the base store, it's a clever and good idea," said Kalan, adding that retail stores still face challenges from big-box and online retailers.

"The whole retail sector is feeling challenged," he said.

He questions if Macy's might be getting an incentive from the mall owner who is challenged by empty store fronts and perhaps this is an experiment.

Full Article



NJTVNews
Newark, NJ
Thursday, March 30, 2017

NJTV News
Every scroll and click: websites, movies, shopping, your bank, even your doctor. When you go online, your internet service provider, or ISP, will be allowed to track every move.

And sometime soon, it will likely also be able to sell your browsing history to the highest bidder.

It's about choice. You can opt out on individual websites that collect browsing data. And you can shop around for browsing platforms, like Google. But you rarely get more than one option for broadband internet service. You're stuck and privacy will be out of your control, says Rutgers Business School marketing professor Ashwani Monga.

"Our individual privacy, our individual freedom of what we can do, what actions we can take without others watching over us all the time," Monga said. "And Big Brother's going to make money off it, yes."

But some experts say not all information will be for sale.

"Definitely not identity information like your name, your birthday, your Social Security number, your home address," said Rutgers Business School management science & information systems professor Hui Xiong.

Full Article



New York, NY
Wednesday, March 29, 2017

Downtown Magazine NYC

Have you ever dropped your cell phone? Odds are that you have, and that drop led to its screen being cracked. Instead of feeling hopeless and clumsy, there is a wonderful alternative out there in the form of Smartbulance. 

Founded by Ralph Shulberg, Rutgers Executive MBA ’15, Smartbulance is an economical and efficient repair service for smartphones. Customers are offered emergency repairs via pickup and drop-off as Smartbulance services all five New York City boroughs and neighboring Hudson County. And for those dropping off, Smartbulance also provides a bit of spectacle, as its team emphasizes its emergency concept by working out of an ambulance.

Ralph spoke to Downtown about what inspired him to start up the company, which is in the midst of tremendous growth. He opened up about Smartbulance's new partnership with the MTA; the first kiosk under this collaboration launches in May. 

Where did the idea for the ambulance come from? Did you have the idea for the vehicle before you had the name?

I identified this trend and timing of the market saturation early in 2012. I developed a transition strategy to downsize my brick and mortar locations down to 2, apply to business school with the end goal of entering the mobile device repair industry when I graduated. I enrolled in Rutgers Executive MBA program in 2013. 

It was during this time when I realized just how busy working professionals are. They are busy with work, family life, and many had decided to go back to school thus reducing their free time even further. 

My classmates constantly were showing up to class with broken devices with no time to get them repaired. I asked about their IT departments and most of them laughed and explained how inefficient the repair process was for enterprise accounts. 

By January 2014 I had developed a business plan on how we would use state of the art repair trucks to bring the repair shop to enterprise customers, their employees, and individual customers. So the idea for the trucks came first.

I graduated with my Executive MBA from Rutgers on May 20th took 10 days off and started Smartbulance on Jun. 1, 2015 by purchasing my first truck. It took 2 weeks to customize and we were on the road and in business by Jun. 15, 2015.

Full Article



Khaleej Times
Dubai, United Arab Emirates
Wednesday, March 29, 2017

Khaleej Times

Rutgers Business School Executive Education is conducting a two-day Digital Bootcamp at the Media Rotana in Dubai. This program, offered by Rutgers Business School in partnership with Know How Training & Consultancy and Hibiscus Media Group (both Abu Dhabi-based companies) will be held on April 11 and 12, 2017.

Digital has revolutionized business as we know it - from marketing to sales, human resources, supply chain management, and virtually everything in between. This is especially true in the UAE, as businesses and individuals prepare for the new challenges and opportunities that are brought to the fore by this rapid change. Best practices from the US alone may not necessarily be useful for the UAE unless they are adapted to the unique nuances of the local market conditions. That is exactly the goal of this bootcamp - combine cutting edge tips, resources and best practices with local adaptations that will deliver a powerful and meaningful program for all attendees.

"It is incredibly exciting to bring our world-class digital marketing program to the UAE with the partnership of our colleagues at Know How and Hibiscus Media Group," said Peter Methot, managing director of executive education at Rutgers Business School. "We have helped our clients achieve their goals in many parts of the world for several years and are thrilled to be able to offer this cutting-edge bootcamp to businesses and individuals in the UAE."

Full Article



The Hill
Newark, NJ
Wednesday, March 29, 2017

The Hill

What do the three wealthiest entrepreneurs in the United States — Bill Gates, Jeff Bezos, and Warren Buffett — have in common? Likely, not a single penny of income tax will be paid on their appreciated stock. Ever.

How is this possible? An anachronistic Tax Code section, commonly known as the "step-up in basis" rule, provides that an asset's tax basis (a.k.a. its cost) is made equal to its fair market value at the owner's death. After a basis step-up, an asset can be immediately sold by a taxpayer's heirs without triggering income tax on any capital gains from the sale proceeds.

The revenue loss from this arcane tax rule is enormous. 

Because the rule constitutes a significant departure from the principle that all income should be taxed at least once, legislators have twice tried to eliminate it.

Full Article



Newark, NJ
Tuesday, March 28, 2017

Huffington Post

Rutgers University is located in a region where transportation is rampant and ride-sharing options like Lyft is the primary choice for those without transportation. It does an excellent job at providing secondary or in some cases primary income for those with reliable vehicles. 

What about communities who do not have this luxury? What is the solution for these communities? Unlike many companies looking to solve a social problem, they don't come in wearing a cape but rather the garb of community members... a smile and desire to help. They aren't looking to be the saviors but rather solving a problem as fellow community members. 

I have a strong notion that Roshni Rides may be the solution and will be making impact internationally. The thoughtfulness of the Roshni team has created a solution for locations with vastly different challenges but the same goal as ride share options… to help stimulate the economy and enrich lives of all through accessibility to travel amongst refugees. With a great idea like this, it was intriguing to find out the impetus for their solution. This Rutgers super team is ready to tackle the challenge.

Full Article