In the Media

CBS Money Watch
New York, NY
Monday, August 31, 2015

CBS Money Watch

Bloomberg News reports that China is selling billions of dollars of its massive inventory of U.S. Treasuries to raise dollars to buy back and stabilize the country's own currency. The move comes amid a sharp decline in Chinese stocks in recent months and rising concerns about China's slowing economic growth.

The reported Chinese sell-off of Treasuries comes at a time when the American economy remains the brightest spot on the planet for global investors. U.S. gross domestic product grew 3.7 percent between April and June, well above an initial estimate of 2.3 percent, a sharp contrast with Europe's anemic recovery and stagnation in Latin America, as well as other emerging markets damaged by China's slowdown.

"We are not fortress America," said Farok Contractor, professor of management and global business at Rutgers Business School. "But the U.S. looks like the least bad place."

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NJBIZ
Newark, NJ
Friday, August 28, 2015

NJBIZ

A number of leaders from New Jersey's academic and business communities will gather Friday morning at the Rutgers Business School in Newark in an effort to come up with new ways for the city to take advantage of public-private partnerships, particularly between its largest and smallest employers.

The event will be highlighted by a panel discussion entitled "Restart, sustain and grow Newark’s Economic Development," featuring the likes of PSE&G President Ralph LaRossa, Schindler Elevator Corp. President Greg Ergenbright, New Jersey Chamber of Commerce President Tom Bracken and Rutgers University’s Cornwall Center Director Roland Anglin. Michael Aron, NJTV chief political correspondent, will moderate the discussion.

Also scheduled to speak are Deputy Mayor Baye Adolfo-Wilson and Newark Community Economic Development Corp. President Otis Rolley.

“You have all of these big anchor institutions in Newark,” said Kevin Lyons, Rutgers Business School professor and event organizer. “Why aren’t they buying from the local area? The money could be very significant.”

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Washington, DC
Friday, August 28, 2015

The Washington Post

Law school applications have been dropping for years now and are facing their lowest enrollment numbers in years, prompting some to cut their budgets and change their programs to attract more students, as my Post colleague Danielle Douglas-Gabriel reported in this April 2015 story.

It said that in the most recent admissions cycle, some 53,000 applications were expected, compared to 77,000 applicants in 2010 and 90,000 in 2004. Why is this happening? And what should legal-minded students do?

Michael Simkovic and Frank McIntyre explain in this post.  Simkovic is an associate professor of law at Seton Hall University School of Law and a Visiting Research Scholar at Fordham University. McIntyre is an assistant professor of finance and economics at Rutgers Business School. (They thank Access Group and LSAC for supporting their recent research on a paper titled Timing Law School.)

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Los Angeles, CA
Friday, August 28, 2015

Los Angeles Times

Are you befuddled by the cost of prescription drugs? There may be a legitimate reason.

"It's certainly not an efficient market," Jason Doctor, an associate professor of pharmaceutical and health economics at USC, said about prescription drug prices. "If it was, you would see only one price for each drug at drugstores, and you don't."

Worse, folks believe that prices for many drugs, both name-brand and generic, keep going up.

According to a recent study by Consumer Reports, one-third of patients said the cost of their usual prescription rose $39 on average over the last year. One in 10 said they're now paying at least $100 more than they did a year ago.

Among the drugs that saw the biggest jumps in prices were treatments for common ailments such as asthma, high blood pressure and diabetes.

I asked about a dozen experts whether the drug market was rigged against consumers. The answer, surprisingly, was no. But they said there were steps that could be taken to improve things.

"I think everyone would agree that the price of many branded drugs is way too high," said Mahmud Hassan, a healthcare economist at Rutgers Business School. "But we still have the cheapest generic drugs in the world."

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CBS Money Watch
New York, NY
Monday, August 24, 2015

CBS Money Watch

For China, the challenge requires balancing the need to preserve stability at home with generating strong enough growth to foster innovation and build wealth. Crisis management on this scale also requires sending confident signals for both domestic and international consumption that China remains a good long term bet.

Yet it would seem by several indicators that well before the latest sell-off it was the Chinese themselves, and some of their largest corporations, that have been hedging their bets against the threat of slowing growth.

Consider that well over a year before the latest Chinese market gyrations, reports of a large migration of China's wealthiest residents out of the country starting popping up in the world financial press.

"When the people that have been successful and pulled together these kinds of assets are leaving in droves, that is problematic on a number of levels," said Michael Santoro, a professor of management and global business at Rutgers Business School. "It signals the economy is in trouble, the environment is deteriorating, and it sends a depressing message to the hundreds of millions of members of the new urban middle class who don't have the means to emigrate."

"What people forget is that modern China has lived longer under economic reform than it did under communism," he added. "China still has a great success story in terms of mass upwardly mobility. Keep in mind that in 1981, 83 percent of the Chinese people were living in extreme poverty. By 2010 that number had declined to 13 percent of the population."

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New York, NY
Monday, August 24, 2015

Strategy+Business

Silicon Valley is recognized globally as the birthplace of some of today's most popular and iconic technologies. Many of its startups have a particular dynamic to thank for their success: the formation of clusters, or groups of companies and organizations that congregate in a region around a particular field.

Brett Gilbert, an associate professor in Rutgers Business School's department of management and global business (and @ProfGilbert on Twitter), studies the formation and influence of these clusters. When a prominent university or a powerhouse company draws other, smaller organizations to its region, a tech cluster forms, supporting entrepreneurs as they develop their own breakthroughs. This model has been observed for decades in the United States. Now, emerging markets such as South Africa are seeing nascent cluster formation. And the success of these nations in the global economy may depend, at least in part, on their ability to make clusters work.

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Forbes.com
Jersey City
Monday, August 24, 2015

"Chief Marketing Officers have always been intellectually curious as to how products and services are delivered to consumers," says John Impellizzeri, assistant professor of professional practice and co-director of the Center for Supply Chain Management at Rutgers Business School. "Over the past decade both consumer and supply demands have become increasingly volatile and complex, making the CMO’s awareness and understanding of the supply chain a necessity to survive."

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Chicago, IL
Monday, August 17, 2015

American Marketing Association

The impact of digital marketing, changes in sales management, and the rise of the "Marketing CEO."

These were just some of the trends and "Next Practices" discussed at the Summer AMA Marketing Educator's Conference in Chicago. More than 800 scholars, students, experts and select vendors came together to discuss cutting edge Marketing thought.

Andy Friedman interviewed Rutgers University Provost Dr. Jerome Williams and others. The PHD Project is making a profound difference in the number of minority doctoral students entering the Marketing academic field and eventually teaching.

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Industry Week
Newark, NJ
Monday, August 17, 2015

Industry Week

New Jersey has its eye on a certain type of entrepreneur.

“We are trying to identify entrepreneurs who can operate profitably in urban environments and also want to make an impact on the community at the same time,” explains Lyneir Richardson the director of the Center for Urban Entrepreneurship & Economic Development (CUEED) at Rutgers University. CUEED is a research-driven, teaching and practitioner-oriented urban entrepreneurship and economic development program, based at the Rutgers Business School.

While that seems to be a tall order, there is actually a large supply of these business owners in the area.  In fact one of CUEED's programs, the Entrepreneurship Pioneers Initiative, receives 100-150 applications and can only accommodate 25-30.

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PR Web
Newark, NJ
Monday, August 17, 2015

PR Web logo

Mayor Ras J. Baraka, Acting Governor Kim Guadagno, U.S. Senator Cory A. Booker, former Governor Thomas Kean, former Nebraska Governor and U.S. Senator Bob Kerrey, Audible.Com Founder and CEO Donald Katz, Prudential Financial Vice Chairman Mark Grier, and other leaders announced the formation of Newark Venture Partners, a $50 million technology venture fund that will bring a state-of-the-art, ultra-high bandwidth, 25,000 square-foot accelerator to Newark, along with “Firebolt Newark Wi-Fi,” delivered by the world’s fastest, large-scale, contiguous public outdoor Wi-Fi to the City, at a press conference at Audible.Com in 1 Washington Park in downtown Newark yesterday.

“The fund and the Wi-Fi network are major steps toward establishing Newark as a technology hub for the region,” said Mayor Baraka. “We are making the right tech investments in our workforce and our neighborhoods. This is about creating more opportunities to grow the economy, for Newark 3.0 to thrive.”

Rutgers Business School is excited to partner with Newark Venture Partners investors to realize this forward-thinking plan for attracting new companies to Newark,” said Rutgers University Newark Chancellor Nancy Cantor. “The establishment of a dynamic technology facility and hub for innovation also creates an incredible new avenue of opportunity for Rutgers students and the rest of the academic community in Newark.”

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AARP
Newark, NJ
Tuesday, August 11, 2015

When it comes to lending money, it's a fine line between being generous and being a sucker. These real-life scenarios (with name changes, etc.) will help you create your own ground rules for giving.

To help us assess each situation, we turned to three authorities for their unique perspectives.

Personal finance expert: Lynnette Khalfani-Cox, The Money Coach
Ethicist: Ann Buchholtz, Business ethics professor at Rutgers Business School
Minister: L. Roger Owens, Associate professor of leadership and ministry at Pittsburgh Theological Seminary

In each case, what would you do?

Read all scenarios and answers



MD News
Newark, NJ
Tuesday, August 11, 2015

MD News

Rutgers Business School Executive MBA alumnus Marc Klaphoz "exemplifies the level of excellence students bring to the Executive MBA program" said Director Farrokh Langdana.

For University Hospital’s Division of Cardiology, success in patient outcomes results from a reliance on 150 physician-educators from a wide range of disciplines.

Although every member of the Division of Cardiology plays a distinct role, by working together, within their own department and in conjunction with physicians in other departments, these professionals provide improved patient outcomes.

“It all starts with collaboration,” says James Maher, MD, FACC, Medical Director of the Echocardiography Laboratory and Associate Director of the Heart Failure and Pulmonary Hypertension Prevention and Treatment Program at University Hospital.

“We provide integrated cardiology care, delivering expertise across the spectrum of cardiovascular disease to every patient,” says Marc Klapholz, MD, FACC, Chief of Medicine and Director of Cardiology at University Hospital and Professor and Chair of Medicine at Rutgers New Jersey Medical School. “We aim to deliver care that will provide the best long-term outcomes, and we don’t spare any effort in pursuit of that goal. It forms the underlying ethic of what we do and how we train the next generation of physicians in this academic medical center.”

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New York, NY
Tuesday, August 11, 2015

Psychology Today

Temptations are everywhere in life, from the rich chocolate torte in the gleaming bakery case to the possibility of finally hooking up with a neighbor or co-worker you’ve been interested in for years. You think to yourself, “What’s wrong with just one small piece?” or in the case of the hookup (assuming you’re in a committed relationship) “How bad would it be to go out for one little drink?”

You might also be tempted, on occasion, to behave in a way that violates your sense of right and wrong.

The study of temptation tends to examine how people behave unethically when they truly desire to be ethical. Less frequently studied are the factors that lead people to resist temptation when it’s staring them in the face.

Rutgers Business School assistant professor and psychologist Oliver Sheldon and University of Chicago’s Ayelet Fishbach (2015) believed that people would be more likely to resist temptation if they could be encouraged to take the long view of seeing one piece of unethical behavior as tied to an entire series of actions that are all interconnected.

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The Guardian
New York, NY
Thursday, August 6, 2015

The Guardian

The US unemployment rate is expected to hold steady at 5.3% on Friday – the lowest unemployment rate in seven years. Yet there is one group whose unemployment rate is still close to 10%: African Americans.

Black unemployment has been about twice as high as that of white Americans since 1954, the earliest that the Department of Labor has unemployment rate by race. In June, the unemployment rate for black Americans was 9.5%. That's more than twice the unemployment rate of white Americans, which was 4.6%.

One of the main reasons why racial inequality persists in the workforce, according to experts, is because of the way employees recommend others for jobs in their workplace.

"There is almost no attention to the bias for people, specifically that whites are biased in preference for other whites and provide information, opportunity and influence on behalf of people that they think of as like them," said Nancy DiTomaso, professor at Rutgers Business School, author of The American Non-dilemma: Racial Inequality without Racism and expert in diversity in labor force.

A while back DiTomaso went to a conference where she met a CEO who wanted to hire more black employees. He knew all about unconscious bias, was attuned to issues of diversity and was passionate about changing middle management composition which he said was "too male, stale and pale."

"That was his language, not mine," she said. "And yet at dinner that night, one of the HR people proudly said that most of the people they hired were recommended by their current employees. [The CEO] had never thought about that. He was so focused on ridding the company of bias against non-whites, he never considered that maybe what was reproducing the lack of diversity in the middle management was that they were hiring the friends of their current middle managers."

DiTomaso points out that Americans still live a very segregated life with whites "disproportionately in the positions with higher income, more influence, more skills and training." As such companies need to pay attention to their entire hiring process as well as what kind of candidates are coming down the pipeline thanks to current employees' references.

Full Article



The Economist
Newark, NJ
Tuesday, August 4, 2015

The Economist

Many of the capabilities military personnel develop during their service are the same as those that are sought out in the corporate world. A 2005 study on the high representation of veterans in the C-suite suggested that the military capabilities valuable in the business world include those related to teamwork, organization, planning, professional communication and goal setting and achievement.

"I have found our veterans to be exceptionally strong in leadership skills," says Professor Farrokh Langdana, who has taught a large number of veterans during his 18 years as Executive Director of the Rutgers Executive MBA. He also serves as an instructor in the new Mini-MBA: Business Management for Military and Veterans, a week-long certificate programme at Rutgers Business School that is also aimed at civilians who work closely with former military personnel. "In my opinion," Langdana adds, "these are leadership skills that are regretfully missing today in large swathes of corporate America. We need our veterans to have the intrinsic confidence to know that they can lead in the business world, too."

Full Article



CBS Money Watch
Puerto Rico
Tuesday, August 4, 2015

CBS Money Watch

Puerto Rico Gov. Alejandro Garcia Padilla is husbanding the Commonwealth's cash to keep vital services up and running following its debt default on Monday.

"The Governor of Puerto Rico's very intentional fashion of going about this is keeping the ship steady until, hopefully, President Obama can step in with a global solution," said Michael Santoro, professor of management & global business at Rutgers Business School.

Padilla in June said Puerto Rico could no longer service its $72 billion dollar public debt. Since that declaration, the Commonwealth has made some payments but strategically missed others.

"What we are seeing is that, not unlike with Greece, Puerto Rico has to choose between maintaining basic services and paying their bondholders," Santoro said. "This is part of America, and we have for far too long neglected it and its people."

Full Article



CNBC
Newark, NJ
Tuesday, August 4, 2015

CNBC

Audible plants high-speed roots in Newark

Donald Katz, Audible.com founder & CEO, discusses his partnership with Newark and Rutgers Business School to bring the world's fastest Wi-Fi to the urban city and create jobs.

Watch Video



PR Daily
New Brunswick, NJ
Tuesday, August 4, 2015

PR Daily Europe

Nobody likes crafting a stellar press release, blog entry or even social media post, only to watch it disappear into a black hole with little or no exposure.

Here are three ways to optimize your online PR content for greater reach, readership and results:

1. Punch up press releases via social media. A/B test your press release headlines on social networks to compare effectiveness using metrics like retweets, favorites, mentions and clicks. The metrics will tell you which is more effective, removing the guesswork and ensuring a more productive release.

"First, create two headlines for an article or press release that you think will perform well,” says Peter Methot, managing director of executive education at Rutgers Business School. “Then tweet both of these headlines roughly one hour apart and compare the data for each tweet."

The headline that has received more clicks, mentions and RTs obviously performed better. Use this one for the press release or any other type of content you’re distributing. “Let the data be the determining factor—not a gut instinct,” Methot says.

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Education Post
Hong Kong
Friday, July 31, 2015

Education Post

Asian women are in the vanguard of a revolution in the world of business education, new research shows.

The once male-dominated field is changing fast as more women enroll in university MBA courses across the globe, with Asian women leading the pace of change, according to a report in British newspaper The Independent.

Even in traditionally conservative Japan, known for the dearth of women leaders in commerce, industry, and government, the MBA program in Tokyo, run by Canada’s Desautels Faculty of Management, is almost half female.

Meanwhile, in the US Professor Lei Lei became the first-ever woman to become dean of Rutgers Business School in New Jersey. Of the full-time MBA students who will graduate from Rutgers in 2016, 51 per cent are women.

Lei says that because CEOs are typically male, more top corporations are becoming interested in recruiting women with leadership potential. Special events are being held for business hopefuls to get mentoring from senior women executives at companies such as Avon and New York’s Metropolitan Museum of Art.

Lei says these kinds of events help attract more women to study for an MBA, assisting students as they strive to "build a strong belief in themselves, about their future, and their success in their careers because they see the role models come to the classroom to talk to them".

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NorthJersey.com
Hackensack, NJ
Wednesday, July 29, 2015

NorthJersey.com

As old buildings tumble and new ones go up in the evolving downtown Hackensack redevelopment, experts say success rides on how the transformation is marketed, and some city businesspeople are clamoring to start the publicity campaign soon, fearing that time is slipping away.

Marc Kalan, a marketing professor at Rutgers Business School, said that however the alliance markets the downtown, it had better deliver.

"A brand, when you really think about it, is the setting up of potential expectations for potential customers," Kalan said. He said cities must find what it is about their location that stands out from competitors and play to that strength.

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