In the Media

TaxNotes
Falls Church, VA
Monday, March 14, 2016

TaxNotes

As billionaire real estate investor and presidential candidate Donald Trump amasses more Republican primary victories, theories mount about what could be lurking in his federal tax returns -- documents he has so far refused to release.

The latest comes from Jay Soled, tax law professor at Rutgers Business School, who wonders if Trump's returns indicate his use of so-called captive insurance companies, which the IRS has long been wary of because of their potential to serve as a tax dodge.

The term refers to special entities or subsidiaries formed by businesses large and small to insure aspects of their operations when traditional insurance is either prohibitively expensive or unavailable to cover some contingencies. The parent company makes payments to the captive insurers that are regarded as premiums and are tax-deductible for the parent.

"Don't be surprised to learn that Donald utilized some captive insurance companies to reduce his tax burden," Soled told Tax Analysts. "Do I have evidence of this? No, but many, many folks of his wealth class were employing this strategy" during the years Trump says are under audit, Soled says.

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Newark, NJ
Wednesday, March 9, 2016

faculty-staff-bulletin

For the third consecutive year, the U.S. Department of State selected Rutgers to offer the six-week Mandela Washington Fellowship (MWF) program as part of President Obama's Young African Leaders Initiative (YALI)—the only New Jersey university chosen to do so.

Fifty young leaders from sub-Saharan Africa who work with nonprofits and the public and private sectors will receive leadership skills and training at Rutgers that will help them improve local communities, develop economically viable business ventures, enhance peace and security, and promote employment and growth in their regions.

For the first two years, Rutgers has participated in the program as one of only 20 universities; when the U.S. Department of State doubled the size of the program this year, Rutgers followed suit by applying for two institutes—and succeeded.

The Rutgers Centers for Global Advancement and International Affairs (GAIA Centers) also recruited faculty from Rutgers Business School and the Department of Chemistry to offer a brand new sustainable business institute.

"Not many universities get selected to host two institutes," said Kevin Lyons, associate professor of business and academic director of the sustainable business institute. In fact, Rutgers is only one of four universities that will offer two institutes for the fellowship.

"The goal of the institute is to give the fellows a better understanding of decision-making. We're going to give them a decision analysis tool that takes complex bits of information as inputs and helps them analyze different aspects that are calculated into a decision—risk is one such aspect," Lyons said. "The tool can serve as a placeholder for critical information beyond the scope of this fellowship and in their real working lives."

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Asbury Park, NJ
Saturday, March 5, 2016

Asbury Park Press

As Donald J. Trump picks up steam in the Republican presidential primary, New Jersey business leaders say his anti-immigrant, isolationist views would hit the state's economy particularly hard.

New Jersey business groups are trying to wrap their heads around a Trump candidacy, and it's not an easy task. On its face, Trump, a real estate developer, speaks their language as a plain-spoken leader who plans to bring his business acumen to Washington, D.C. But he also has taken aim at minorities and the disadvantaged in a way that would get any CEO of a major U.S. company fired.

"If you look at it from simply the bread-and-butter issues that are most important to the business community, he is a very sympathetic candidate," said Michael Santoro, professor of management and global business at Rutgers Business School in Newark and New Brunswick. "The problem I think for him is no one, no company in the U.S. or the world can really be associated … with many of the attitudes that he’s expressed in this campaign."

"The way he has handled issues of diversity and inclusion are very far from the values of corporate America," Santoro said.

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inc.com
Newark, NJ
Thursday, March 3, 2016

inc.com logo

Even if you are a skilled networker--and you routinely reach out to former colleagues to refresh your rapports--you could be making better choices about which former colleagues you reach out to. That is one of the primary takeaways from an article recently published in the MIT Sloan Management Review called "How to Reconnect for Maximum Impact."

The authors of the study--professors Jorge Walter (George Washington University School of Business), Daniel Z. Levin (Rutgers Business School), and J. Keith Murnighan (Northwestern University's Kellogg School of Management)--studied what happened when more than 150 executives interacted with old ties about an important work project.

Their big finding? Executives chose the contacts they were most comfortable reconnecting with--not necessarily the contacts who'd provide the best advice or novel insights.

"Emotions played a bigger role than we expected," write the authors. That is, the executives were anxious about reconnecting. "When pressed, they gravitated toward contacts with whom they had extensive histories of prior interaction, even if that meant missing out on potential value," note the authors.

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New York, NY
Tuesday, March 1, 2016

Bloomberg Business

Rutgers Business School's Institute for Ethical Leadership (IEL) and Governance & Accountability Institute (G&A Institute) announced today a partnership to develop and offer a Corporate Social Responsibility (CSR) Certificate Program with the purpose of providing a competitive advantage to CSR teams and corporate professionals expanding into this growing field.

The first two-day executive education program classes will take place on Wednesday, April 27th and Thursday, April 28th at Rutgers Business School in Newark, NJ.   Both organizations will actively market the services over the next few months.   The program will focus on a deep dive into CSR and the related fields of philanthropy, sustainability, risk management, supply chain management, and ethics.

According to IEL Co-founder, James Abruzzo, "Americans' faith in large institutions has faltered, and they now expect greater transparency, social responsibility and two-way communication far exceeding what was demanded in the past. The best ethical leaders believe that corporate responsibility goes beyond the shareholders to the greater good. When social responsibility is part of their companies' cultures, both they and society benefit."

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New Brunswick, NJ
Tuesday, March 1, 2016

Digital Media Online

Rutgers Business School Executive Education is launching an accelerated certificate program that will explore the impact of the Internet of Things (IoT) on the next generation of supply chain strategy. The Mini-MBA Supply Chain in a Digitized Network program will be offered April 11-15, 2016, in New Brunswick, N.J.

In addition to hosting a North America program, Rutgers will expand this program internationally to include the Asian and Pacific Coast (APAC) countries. Over the past five years, Rutgers has achieved great success with custom program delivery in the APAC region. Corporate clients include Johnson & Johnson (Shanghai & Singapore), Janssen Pharmaceutical (Vietnam), and Sodexo (Vietnam). The first international Supply Chain Mini-MBA program will be delivered in an open enrollment format and will be led by the Rutgers Business School Executive Education team and APAC-based faculty. The program will include relevant and regional challenges, compelling case studies, and will be hosted in Singapore in 2016.

"IoT is profoundly reshaping the supply chain and reinventing the entire industry. Many companies have focused their IoT strategy on how the technology can cut costs and improve efficiency. However, IoT can also serve as a foundation for greater differentiation and innovation," said Jackie Scott, global program director of Rutgers Business School Executive Education.

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Newark, NJ
Thursday, February 25, 2016

The Daily Targum

The "Business of Fashion" concentration is offered to undergraduates on the Rutgers—Newark campus, and there is a "Business of Fashion" minor offered to students who are not in Rutgers Business School. In addition to the undergraduate programs, a Master of Science in Business of Fashion will also be launching in the fall.

Founding Director Tavy Ronen said the program is close to her heart. Having grown up in New York City and around the fashion industry, she said she aims to make the fashion program one of Rutgers Business School’s outstanding features.

“Our program is also for arts and sciences students, especially the ones who want to solidify their understanding of business,” said Ronen, an associate professor in the Department of Finance and Economics. “There are so many people these days who are interested in both fields.”

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Newark, NJ
Tuesday, February 23, 2016

Bloomberg Business

Rutgers Business School is launching a new specialty master's program designed to equip healthcare leaders with the business knowledge and skills to adapt and manage the transformation in healthcare delivery.

The Master of Science in Healthcare Services Management program was developed with a uniquely customized MBA curriculum for executives, physicians and managers in the healthcare delivery services industry.

David Dobrzykowski, co-director of the new program and a supply chain management professor, said U.S. healthcare providers from hospitals and physician offices to long-term care facilities are seeing reimbursement methodology change from incentivizing volume to incentivizing quality and customer satisfaction measures that mainstream businesses have long valued and used to guide their business practices.    

"C-level administrators, physicians, physician executives and other clinical leaders are recognizing there's a need to beef up their understanding of business operations in order to successfully lead their organizations through this dramatic period of change," Dobrzykowski said.

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NJBIZ
Newark, NJ
Monday, February 22, 2016

NJBIZ

His friends enjoyed their summer after graduation vacationing or partying at a rental on the Jersey Shore.

Alex Clark spent his studying for the CPA exam.

Today, Clark is a senior CPA at Marcum LLP's Neptune office, but he still acutely recalls the rigors required to pass the exam five years ago.

The stakes for accounting majors to pass the CPA exam are high.

"One of the stumbling blocks in the accounting profession is that most, if not all the major firms will put up a glass ceiling if you don't pass the exam," said C. Daniel Stubbs Jr., CPA and an assistant professor at Rutgers Business School. "You won’t get up to a management level without it."

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Brighton, MA
Monday, February 22, 2016

Harvard Business Review

Tech companies, banks, consulting firms, you name it — all are scrambling to create diverse and inclusive environments. But despite pouring millions of dollars annually into diversity efforts, organizations sometimes fail to capture the benefits that diverse groups reportedly offer.

One possibility for this failure is that the purported benefits of diversity are more hype than reality, but that’s unlikely given the ample research that speaks against this claim.

So why the disconnect between the potential of diverse groups and reality? Part of the problem may be the fact that people’s biases about diverse groups, both conscious and unconscious, can undermine the very benefits of diversity.

To examine this hypothesis, we conducted a series of experiments in which participants made judgments about the level of conflict in a group’s interactions. They also rated their willingness to provide that group with the resources it requested.

The findings were striking. When reading a transcript with pictures revealing the group’s composition, racially diverse teams were perceived as having more relationship conflict than homogeneous ones. And they were less likely to receive additional resources because of these biased perceptions of conflict — even though the objective content of the group interaction was exactly the same.

By: Katherine W. Phillips, Robert B. Lount, Jr., Oliver Sheldon, and Floor Rink

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Newark, NJ
Tuesday, February 16, 2016

U.S. News & World Report

When it comes to applying to business school, connecting with a school's admissions team can be a key part of the process. For prospective students, this connection often happens at admissions events.

Many MBA programs prefer applicants work for a few years before applying and like to see resumes with a certain look.

"I would say no more than two pages for their resume," says Stephan Kolodiy, a senior admissions officer for Rutgers Business School. "Sometimes we get a resume that's five to six pages long, and that's way too much information," says Kolodiy, who works for the MBA Office of Graduate Admissions.

Applicants can also inquire about which work experiences to list.

"They can ask how far back should they go in regards to listing their professional experiences, and that all depends on how long they've been working," Kolodiy says.

"Every applicant is a little different, so that could be something that we discuss during the course of the conversation."

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NJBIZ
Newark, NJ
Monday, February 15, 2016

NJBIZ

Marcela Zuchovicki speaks five different languages: English, Spanish, French, Portuguese and German.

She has lived and worked in five countries and in four different states within the U.S.

Today, at age 54, she runs a multimillion-dollar, global management and strategic advisory firm specializing in financial services with offices in Bangalore, India — from her home office in Phillipsburg.

Zuchovicki created a fair-trade company — Jalima Coffee — that would encourage the import of gourmet, organic Mexican coffee to the U.S. in 2004.

The coffee was sold in 250 stores — including Whole Foods — within six months.

That boom was short-lived.

In an effort to keep Jalima Coffee afloat, she attended the Entrepreneurship Pioneers Initiative program at The Center for Urban Entrepreneurship and Economic Development at Rutgers Business School-Newark in 2009.

To supplement her income while managing Jalima Coffee, Zuchovicki had been providing bookkeeping and financial services on a freelance basis since 2007.

“I ended up going by myself to India in 2011 to create the infrastructure for what would become (Jalima & Associates),” Zuchovicki said.

“I used all of my experiences and everything that I learned through my different careers and volunteer opportunities to create my own strategic management tools that would help companies grow.”

Zuchovicki’s virtual bookkeeping and financial services firm currently serves nearly 200 clients around the world by employing 250 employees in both the U.S. and Bangalore, India.

“We are virtual in bookkeeping and financial services, but we also provide strategic management solutions,” she said. “We create resilience programs that provide personality and behavioral assessment tools in which to create effective change and build efficiencies.”

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Rutgers Today
Newark, NJ
Monday, February 15, 2016

Rutgers Today

Creative people drawn to work in the fashion industry don’t necessarily have business skills, while business professionals interested in fashion industry jobs often know little about the field’s creative side.

The Rutgers Business School-Newark and New Brunswick aims to breach that gap with a new Master of Science in Business of Fashion program to create a new breed of industry professionals, says Tavy Ronen, founding director of the program and an RBS finance professor.

“In the fashion industry, there seems to be a big disconnect between the business sector and the creative field – there’s a real chasm between the two,” Ronen says. “We decided it would be great to provide a program for creatives who want to learn how to run a business and for business professionals who want to work in the fashion industry.”

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New York, NY
Saturday, February 13, 2016

Wall Street Journal

Bernie Sanders wants to raise a lot of money from Wall Street.

Mr. Sanders’s plan isn’t to ask Wall Street for money. It’s to demand it in the form of a financial-transaction tax.

Proponents claim the tax would collect tens of billions of dollars, discourage speculative and high-frequency trading, and make markets safer and less volatile. Its opponents say the revenue estimates are overstated and the tax will actually make markets more volatile.

The New York tax was the subject of a study by Bank of Canada economist Anna Pomeranets and Rutgers University economics professor Daniel Weaver. They found that the tax made stocks more volatile, depressed stock prices, widened bid-ask spreads and made capital more expensive for businesses. For example, when the tax was raised 25% in 1966, bid-ask spreads widened from 1.76% to 2.05%.

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Newark, NJ
Thursday, February 11, 2016

Bloomberg Business

One of the fastest growing and least understood corporate functions - Corporate Social Responsibility or Corporate Sustainability - is the new field taking over for the more traditional corporate foundation and sponsorship.

In recognition of this growing business function, the Institute for Ethical Leadership (IEL), located at Rutgers Business School, is offering a Corporate Social Responsibility Certificate Program. This two-day executive education program, on Wednesday, April 27 and Thursday, April 28, 2016, at Rutgers Business School in Newark, features a deep dive into Corporate Social Responsibility and the related fields of philanthropy, sustainability, risk management, supply chain management, and ethics.

According to IEL Co-founder, James Abruzzo, "Americans' faith in large institutions has faltered, and they now expect transparency, social responsibility and two-way communication far exceeding what was demanded in the past. The best ethical leaders believe that corporate responsibility goes beyond the shareholders to the greater good. When social responsibility is part of their companies' cultures, both they and society benefit."

Full Article



Salon
New York, NY
Wednesday, February 10, 2016

Salon

What's missing from the way that our financial press reports about China's economic slowdown is that it fails to take into account the role of the mainland's people and the environment in how this crisis came to be. For too long this story has been told exclusively with quarter over quarter economic performance statistics by the myopic business press, which ignores entirely the deeper ecological crisis and intense social upheaval that has been underway in China for years.

There are serious and profound consequences from China's over-the-top drive to be the world's factory, and global investors' greed to extract as much as they could in the way of a double-digit rate of return in the process. The truth is, our investor class did not care, and still doesn't care, how China makes its numbers as long as it makes them.

“Imagine a thousand Flints in a country without a free press,” says Michael Santoro, a China expert and professor of management and global business at Rutgers Business School. “The environmental degradation is relentless and the people pressing their claims must do so through informal Internet channels.  Because the blowback comes from so many people and is so desperate the government must respond.”

"But the conundrum for the government is that, unlike Flint, the environmental dangers posed are not merely isolated functions of government incompetence, racism and budgetary mismanagement," according to Santoro. "Rather the environmental problems are tied at the hip with economic growth and are thus much more deeply enmeshed into China’s economic growth model and the Communist Party's stability and prosperity premises for governing."

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Newark, NJ
Wednesday, February 10, 2016

Bloomberg Business

The Center for Real Estate at Rutgers Business School, a rising academic program positioned to transform and inspire the next generation of real estate leaders, is pleased to announce the appointment of Jeffrey Sica, Founder and President of Circle Squared Alternative Investments to its Advisory Board.

“We rely on our Advisory Board members to bring practical and real world knowledge and experiences from every sector of our industry into our Center with the goal of providing the most advanced and innovative curriculum and the most important and timely research available for real estate,” added Morris A. Davis, the Paul V. Profeta Chair and Academic Director of the Center for Real Estate at Rutgers Business School. “The consolidation and dissemination of this knowledge will serve as a focal point for addressing New Jersey's, and subsequently the country's, difficult and complex business and real estate issues, and will inspire the next generation of real estate leaders.”

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FindMBA
Newark, NJ
Tuesday, February 9, 2016

FindMBA

All admissions essays have one thing in common: they present an opportunity for students to inject a personal flair into the impersonal numbers and lists of internships that comprise the rest of an application.

Stephan Kolodiy, senior admissions officer at Rutgers Business School, says Rutgers asks students to choose one of several topics and write an essay. Too often, students end up writing an essay on a completely different topic.

"It shows that they can't follow instructions," Kolodiy says. "It's basically a short paper. It's a two-page paper, and it's a very simple topic. If they can't follow instructions on this, then how are they going to be able to do it once they're in the classroom?"

"All the other part of the application--the GRE, the GMAT score--that won't be something that we remember about them," Kolodiy says.

"But something we read in the essay will be something we remember about them."

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STAT
Newark, NJ
Tuesday, February 9, 2016

STAT

With a theatrical flair, Martin Shkreli, the poster boy for sky-high drug prices, once again captured the public imagination as he appeared last week before a congressional committee.

But while Shkreli and the rest of the pharmaceutical industry are, indeed, a study in contrasts, the differences may be lost on the American public.

The reality is that price hikes are pervasive and the entire pharmaceutical industry shares responsibility for its poor reputation.

"The industry needs to convince people that the money they make goes into innovation," said Michael Barnett, a Rutgers Business School professor in the Management & Global Business department who specializes in stakeholder management. "But that’s also the party line they’ve been telling for a while."

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Newark, NJ
Monday, February 8, 2016

Bloomberg Business

Rutgers Business School is inviting students from New Jersey's seven largest county colleges to participate in a new case competition on April 1.

The event is open to students of any major attending Bergen, Brookdale, Essex, Hudson, Middlesex, Morris, and Union county colleges. Individual teams are limited to seven students, and only half of a team can be made up of first-year students.

Each school represented by a team at the NJC4 New Jersey County College Case Competition will receive $1,000. Prize money also will be awarded to the top two teams. Registration deadline is Feb. 26.   

"We want to give the county college students an opportunity to come to Rutgers Business School and have the experience of meeting real company executives," said Robert Kurland, associate dean of undergraduate student and academic services in Newark.

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