In the Media

NJBIZ
Newark, NJ
Monday, June 1, 2015

NJBIZ

The Rutgers Business School's Center for Real Estate has unveiled the founding members of its advisory board, a star-studded roster than includes more 60 of the most influential developers and industry professionals in New Jersey.

In a news release, the program said its board is meant to be a cross-section of New Jersey’s real estate sector, featuring everyone from builders and brokers to government officials and bankers. And it will help provide students with speakers, mentors and access to real-world experiences as Rutgers continues to mold the academic and research program.

“We have assembled the industry’s top minds to help us revitalize and transform the way real estate curriculum is taught both in and out of the classroom,” Morris A. Davis, the Paul V. Profeta Chair and academic director of the Center for Real Estate at Rutgers Business School, said in a prepared statement. “We appreciate the commitments that each member has made to our program and will be relying on our Advisory Board to bring practical and real world knowledge and experiences from every sector of our industry into our Center.”

Full article and membership



Forbes
New York, NY
Wednesday, May 27, 2015

Forbes

Somehow “passive” has become the investing theme of the moment. Tons of money is flowing into index funds and ETFs. I am also hearing about “the death of active management.” I’ve heard about the death of a lot of things in my time–radio, television, pen and paper–and they’re all still here. Meanwhile, plenty of experienced, highly active managers are earning their keep.

For decades many active managers were at odds with the academic community. Most studies have suggested that active managers cannot dependably outperform the market. Vanguard has built a giant business capitalizing on this widely held belief. One professor from the University of Notre Dame, K.J. Martijn Cremers, has come to active mutual fund managers’ defense with his “Active Share” metric.

His 2006 paper, coauthored by Antti Petajisto, was called “How Active Is Your Fund Manager? A New Measure That Predicts Performance.” Active Share quantifies how much an actively managed portfolio differs from a benchmark.

Cremers, now working with Ankur Pareek of Rutgers Business School, has a new paper: “Patient Capital Outperformance: The Investment Skill of High Active Share Managers Who Trade Infrequently.” Its first sentence clearly lays out the main point: Among high Active Share portfolios, only those with patient investment strategies–holding stocks at least two years–outperform.

Full Article



CNN
Newark, NJ
Monday, May 25, 2015

CNN

Most of us want to do the right thing. We don't want to steal office supplies or lie on an expense report. But we all face temptations, and sometimes we give in to them. A new study suggests that being aware of these temptations, and thinking about their long-term consequences, could help us resist the urge to act unethically.

Researchers put groups of people and their moral fortitude to the test in a series of situations where acting dishonestly could benefit them in the short-term. In one scenario, participants were faced with whether to lie in negotiating to buy a house to get a better deal. They were less likely to resort to cheating if they were reminded beforehand of another time they bent the rules in their favor.

"There is this general, overarching question of why good people occasionally do bad things," said Oliver Sheldon, assistant professor of management and global business at Rutgers Business School and co-author of the study, which was published on Friday in the journal, Society for Personality and Social Psychology.

"We think part of the explanation for why people occasionally don't behave ethically is their failure to confront and realize there's a temptation," Sheldon said. In addition to acknowledging the temptation, the study suggests that people have to see it as one they might have to struggle with repeatedly, and that could potentially jeopardize their reputation and integrity.

Full Article



Newark, NJ
Friday, May 15, 2015

Rutgers Today

Professor Rosa Oppenheim's degrees are fighting for space on her wall.

The B.S. (from Polytechnic University) in chemical engineering once sat alone on a white canvas. It was soon joined by an M.S. (Polytechnic) in operations research, and they coexisted peacefully until the operations research Ph.D. (Polytechnic) shoved them to the side. Then came the M.A. in English, soon to be squished by an M.A. in liberal studies, both from Rutgers University–Newark (RU–N).

It’s time for a new wall.

Oppenheim's May 2015 M.A. is the latest milestone in her journey of lifelong learning. In 1973, she joined RU–N as an assistant professor, shortly after earning her Ph.D. After a few years, she decided to continue her education.

"When I first got tenure at Rutgers back in 1980, I rewarded myself by starting a master's program in English. I have an engineering background and all of my undergraduate work was very technical, there was no room for electives in the arts and humanities,” she said. “I always had a great interest in those areas and wanted to take advantage of the opportunity here at Rutgers.”

Full Article



Rutgers Today
Newark and New Brunswick, NJ
Thursday, May 14, 2015

Rutgers Today

Rutgers University–Newark (RU-N) has announced more than $4 million in seed grants under the Chancellor’s Seed Grant Program, which is more than double the $2 million projected in the competition’s original request for proposals. Designed to cultivate sustainable projects that advance the priorities articulated in the university’s strategic plan, Rutgers University–Newark: Where Opportunity Meets Excellence, the competition yielded more than 50 individual awards to schools, institutes, centers, and administrative offices ranging from $12,000 to $125,000.

“We were thrilled with the overwhelming response to the request for proposals,” said Chancellor Nancy Cantor. “With the quality of proposals being so high overall and the volume so remarkably large, we knew we should shift gears and invest as much as we possibly could in this first year of the competition to build even greater momentum in implementing our strategic plan.”

A standing Strategic Seed Grant Committee comprised of faculty, staff, and students facilitated the selection process.

The Strategic Seed Grant Committee includes: Anne Englot, professor in the Department of Arts, Culture and Media of the Faculty of Arts and Sciences (FASN); Lindsey McDougle, assistant professor at the School of Public Affairs and Administration (SPAA); Lyra Monteiro, assistant professor in the Department of History and the Graduate Program in American Studies of FASN; Natalia Morisseau, director of the Office of Financial Aid; Rosa Oppenheim, professor and chair of the Department of Supply Chain Management and Marketing Sciences at Rutgers Business School (RBS); Andres Rengifo, associate professor and director of the MA Program at the School of Criminal Justice; Lyneir Richardson, executive director of The Center for Urban Entrepreneurship and Economic Development at RBS; Shana Russell, doctoral candidate in American Studies; Jongmin Shon, assistant professor at SPAA; Michael Simmons, program manager at the Joseph C. Cornwall Center for Metropolitan Studies; Lee Slater, professor and chair of the Department of Earth and Environmental Sciences of FASN; and Jennie Valverde, clinical professor at the School of Law.

Full Article

List of 2015 Seed Grant Awardees



Value Colleges
New Brunswick
Tuesday, May 12, 2015

Value Colleges

These days, a lot of people are going back to school. If you’re in business, maybe in middle management, what you’ve heard is true – the best way for you to advance is an MBA. Workers with an MBA make much more than those without, get to higher positions, and have more job security.

The Rutgers Business School MBA, from Rutgers University, has the distinction of being named the best public MBA in the NYC region by U.S. News & World Report, and there’s something very important in that statement: the New York City region. If one of the main objectives of an MBA program is to provide connections to the business world – and it is – the New York City region may be the single most important area. Students can choose a traditional full-time MBA with many concentrations, including Analytics and Information Management, Pharmaceutical Management, and Global Business, or the Flex MBA (formerly part-time), for working professionals who wish to earn a degree while keeping their current job. Rutgers’ superior career services, with strategic partnerships with major businesses in New York and New Jersey, help ensure that students will graduate considering their degree well worth the investment – with a high-paying, satisfying career as the return.

Full Rankings



BusinessBecause
New Brunswick, NJ
Monday, May 11, 2015

BusinessBecause

There is a need for talent at the top, as supply chains become departments with senior-level management, according to Eugene Spiegle, vice chair of the supply chain management department at Rutgers Business School.

These departments are a way to “sustain competitiveness and manage the fast-paced changes caused by both global markets and changing consumer demands”, he said.

Full Article



New York, NY
Monday, May 11, 2015

CBS This Morning

Allergy experts are warning of a "pollen tsunami," adding to the downside of Spring for the roughly 50 million Americans with nasal allergies.

One of the biggest pollen hot zones in the country spans the Northeast and there are indications it won't let up anytime soon, reports CBS News correspondent Jericka Duncan.

Blooming flowers and budding branches mean Spring is in the air -- and so is the pollen. It's everywhere, collecting in thick clumps on the ground and coating cars.

Dr. Clifford Bassett, medical director of allergy and asthma care of New York, said there's so much pollen, even people who have never had allergies are suffering.

A Rutgers researcher (Kevin Lyons) says climate change is causing allergy seasons to start earlier and last longer and that by 2040, pollen counts will be more than twice the levels they were in 2000.

Climate Change and Allergic Disease, Leonard Bielory, Kevin Lyons, Robert Goldberg

Download Paper



Newark, NJ
Monday, May 11, 2015

You have a spot to fill on a team. Two qualified candidates come to mind. One is bright and gregarious—she radiates energy and is well-liked around the office. The other is quiet and nervous—he has a reputation for being obsessive and can be off-putting. It’s a no-brainer, right? The extrovert will shine; the neurotic will shrink.

Think again, says Corinne Bendersky, associate professor of management and organizations at UCLA’s Anderson School of Management. She believes that the assumptions people make and the expectations they have about how much value colleagues with different personality types will bring to a group are usually wrong.

Bendersky and her collaborator, Neha Shah of Rutgers Business School, have studied how status changes are driven by the perceptions of an individual’s peers.

Bendersky considered the influence of personality type on these perceptions, with a focus on the two dimensions of the Big Five traits that previous research has shown are most strongly associated with status in groups: extroversion and neuroticism (she controlled for the other traits, which are agreeableness, conscientiousness and openness to experience). As interdependent work unfolds, she finds, extroverts lose stature and neurotics gain stature.

Full Article



Newark, NJ
Friday, May 8, 2015

Asbury Park Press

Whole Foods Market’s new Wall location will still be Whole Foods, a spokesman said today after the conspiracy theorists here in the APP’s business department wondered if it would be part of its new, millennial friendly concept.

The Austin, Texas-based grocer made headlines this week when it announced it would launch a new, yet unnamed store to reach out to the generation.

Included in its announcement were buzzwords that likely will appeal to millennials: “convenient,” “transparent,” “values-oriented,” “innovative” and, perhaps most of all, “great prices.”

Millennials, now in their 20s and 30s, are bringing sweeping changes to New Jersey, forcing the suburban state to reinvent itself for a generation that prefers living in cities.

Whole Foods’ announcement makes sense. The grocer often is referred to as “Whole Paycheck” because of its prices. The chain risks losing young customers to competitors like Trader Joe’s, whose brand is synonymous with inexpensive prices, said Marc Kalan, a professor at Rutgers Business School - Newark and New Brunswick.

Deep in student loan debt and still feeling the effects of the recession, “millennials don’t have a lot of disposable income,” Kalan said. But their shopping habits are being formed now; no company wants to assume they’ll gravitate there when they get older or get a raise.

Full Article



NJBIZ
Hackensack, NJ
Thursday, May 7, 2015

NJBIZ

Hackensack University Health Network officials were in discussions with CVS Health about expanding their partnership involving Minute Clinics when the moment came that assured Hackensack CEO Robert C. Garrett he had found the right partner:

CVS Health announced it was pulling all tobacco products from its stores.

“That was a real major consideration for us,” Garrett said. “If we’re going to talk the talk and walk the walk with population health and wellness and fitness and keeping the population healthy, we want to partner with an organization that really shares those beliefs.”

Garrett and Hackensack have made a number of partnerships with a variety of businesses and organizations in the past few years.

He told the audience last week at a conference in New Brunswick organized by the Rutgers Institute for Ethical Leadership that he looks at more than just the bottom line when picking partners.

“We look at our partners’ values, their culture to make sure there’s a consistency with what we stand for,” he said. “Strategic interest and strategic objectives are really important when you look at these types of affiliations or mergers, but I think the most important thing is cultural compatibility. It’s huge and it has to be foremost (in the discussion).”

Judy Young, the executive director of the institute, feels a cultural connection may be the most important consideration when reviewing a potential partner.

“It’s critically important when you are doing a merger and acquisition to do your due diligence beforehand,” she said. “If your values are not in synch, you are going to find that you are going to be a mismatch in every vein of business that you are trying to do with this organization. It’s critically important that you find out as much as you can about an organization’s values — not only what they have on the wall and what looks pretty, but what do they practice on a daily basis.”

Full Article



Cambridge, MA
Wednesday, May 6, 2015

Harvard Law School Forum

The Harvard Law School Forum published an abstract by Mark Humphery­Jenner, a Senior Lecturer at the University of New South Wales Business School, of a paper he co­authored with Suman Banerjee, Associate Professor in the Department of Economics and Finance at the University of Wyoming, and Vikram Nanda, Professor of Finance at Rutgers Business School. The paper, entitled “Restraining overconfident CEOs through improved governance: Evidence from the Sarbanes­Oxley Act,” explores whether appropriate restraints on CEO discretion and the introduction of diverse viewpoints on the board serve to moderate the actions of overconfident CEOs and, in the end, benefit shareholders.”

View the abstract here.



BNY Mellon
New York, NY
Tuesday, May 5, 2015

BNY Mellon

John Buckley, global head of corporate social responsibility (CSR) at BNY Mellon, presented the first ever BNY Mellon Social Finance Prize to a team of Rutgers Business School MBA students at recent breakfast event at the NYC Yale Club for the Aspen Institute’s recent annual Business & Society International MBA Case Competition. Created in partnership with the Aspen Institute, the prize encourages innovation in social finance, a field that encompasses investment activities with both financial returns and significant social impact.

The Rutgers student team’s recommendation focused on further developing existing guidelines to provide financial services companies with a corporate responsibility metric to evaluate performance in emerging markets. The students will work with an organization to implement their recommendation, and BNY Mellon will direct $15,000 to the organization to improve social responsibility standards.

Full Article



NJ.com
Newark, NJ
Tuesday, May 5, 2015

NJ.com

I was disappointed by the headline on The Star-Ledger's editorial page, "Barchi is mainly to blame for Rutgers' next tuition hike." The cost of college education is a difficult national issue, which should not be personalized. The issue is difficult because the cost is driven by widely shared and cherished goals. The decision to burden Rutgers with the unknown cost of its merger with UMDNJ, for example, was made in Trenton with broad public support before Robert Barchi came to Rutgers.

Full article



NJBIZ
Short Hillls, NJ
Monday, May 4, 2015

NJBIZ

"If you think about what happens in a lot of urban areas, there is a premise that comes in within the political framework that if you are left-leaning you are socially conscious and you are generally against business and economic development, and if you are right-leaning, then you are a pure capitalist and you are against anything that is socially conscious," Jersey City Mayor Steven Fulop said to a chuckle in the room.

"We believe they are not mutually exclusive choices, that it is a false choice in many ways — that you can put in place policies that are socially conscious and partner with the private sector as well, to make sure that those are implemented in a positive way and at the same time put policies in place that drive the very, very strong local economy."

Fulop spoke Friday at "Moving the Goalposts: The New Urbanism Real Estate Conference," put on by the Center for Real Estate at Rutgers Business School at the Hilton Short Hills.

Full Article



NJBIZ
Newark, NJ
Monday, May 4, 2015

NJBIZ

Carl Goldberg knows it takes stability and support from a local government to bring a development project to the finish line — and he has a walking, talking case study named Richard Turner.

“(Turner) has been mayor of the township of Weehawken since 1990,” Goldberg said. “And since 1990, he has had a vision for what the redevelopment of the Hudson River waterfront would look like and what — most importantly — it would not only mean to the new people that move to Weehawken, but … to the current residents of the township of Weehawken who had been there for many, many decades.”

That staying power helped drive a partnership with Goldberg’s former firm, Roseland Property Co., as it has transformed the northern Hudson waterfront in recent years. And that partnership was on display Friday at the inaugural conference hosted by the Rutgers Business School Center for Real Estate.

Full Article



NJ.com
Newark, NJ
Monday, May 4, 2015

NJ.com

The Newark Community Economic Development Corporation (CEDC) – a city-run agency focused on economic development – is an example of Newark's renewed focus on growing business opportunity, said Otis Rolley, CEDC President and CEO.

The CEDC launched last year to replace the Brick City Development Corporation, which was previously cited for issues with its loan program.

"Newark CEDC has been revamped, restaffed, and reinvigorated and is poised to help retain, attract and grow business big and small throughout Newark," he said.

"We have $2 billion in our development pipeline."

And, city government workers aren't the only ones pulling for an economic renaissance in the state's largest city. The Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers Business School has been working to foster small business growth in Newark and other urban areas across the state for the past seven years.

According to Lyneir Richardson, CUEED's executive director, about one-third of the 180 businesses the center has worked with are in Newark. Over the past five years, 80 percent of the small businesses the center has worked with are still open, and together they have hired 181 new employees in the city, he said.

"Part of the challenge of Newark is...communicating (to the masses) the good things that are happening here," Richardson said. "Walk around Newark for half a day and you can see the opportunity, (and how you) can be part of this story of revitalization. It's a comeback city."

Full Article



New Brunswick, NJ
Friday, May 1, 2015

The Daily Targum

The Rutgers Institute for Ethical Leadership held its 2015 Conference on Ethical Leadership on April 30 at the Hyatt Regency in New Brunswick, New Jersey.

The institute anticipated over 200 conference attendees, including speakers from Johnson & Johnson and the Hackensack University Health Network.

"We see evidence in the news every day that ethical leadership is needed more than ever," Judy Young, the executive director of the Rutgers Institute for Ethical Leadership, told PR Newswire. "Our diverse programs provide several options to instill in leaders a deeper understanding of the correlation between ethical decisions and their organization's success."

Full Article



Voice of OC
Newark, NJ
Thursday, April 30, 2015

Voice of OC

The legal careers of two Orange County supervisors and whether they intersect with their public duties are raising questions among good government and ethics experts.

Supervisors Todd Spitzer and Shawn Nelson are both prominent local attorneys, and each report substantial income from their law firms on state-mandated disclosure forms. Spitzer has reported receiving up to $100,000 annually since he took office in January 2013, and Nelson more than $100,000 in each year since he become supervisor in 2010.

But beyond that, very little is publicly known about who their clients are, or more specifically, how their income is generated.

In large measure, these unknowns are due to the scope of the state's disclosure requirements. Elected officials in California who are also attorneys are generally required to list clients who paid their law practice at least $10,000 per year, if they’re the sole owner of the practice.  The dollar threshold is higher if they just have a partial ownership stake in the firm.

There are concerns that go beyond specific questions of reported income and/or ownership.

In Nelson’s case, a recent advertisement for Rizio & Nelson featured Nelson prominently, listing him as “of counsel” to the firm and his title as a county supervisor.

A leading government ethics expert says that while elected officials shouldn’t be penalized for “maximizing their honest income,” the ad doesn’t seem to pass the “sniff test.”

“At a certain point it’s just a matter of good form, or good taste,” said James Abruzzo, co-director of the Institute of Ethical Leadership at Rutgers Business School. “There are certain things that just don’t pass the sniff test, and I think that this just might be one of them.”

Full Article



Newark, NJ
Thursday, April 30, 2015

The New York Times

Richard Sung Kang's American dream came crashing down in a shower of broken glass.

His West Baltimore liquor store and bar, the Oxford Tavern, was hit by looters during a riot over the police-involved death of neighborhood resident Freddie Gray.

The business wasn't torched like the nearby CVS pharmacy, but its doors and windows were broken and cash and inventory stolen, leaving shelves bare.

Now the 49-year-old South Korean immigrant must decide whether to reopen. If so, it could mean taking on more debt and paying higher insurance premiums.

Even companies that can rebuild face challenges. When a business is closed for an extended period, customers seek alternatives and may not return, said Jeffrey Robinson, a professor of entrepreneurship at Rutgers Business School.

Full Article