In the Media

Newark and New Brunswick, NJ
Friday, September 4, 2015

MBA Programs.org

Rutgers Business School claims many firsts in the world of business education. In 1950, it was the first to offer a master of accounting, and in the early 1970s, it was the first to offer a course that had students working on consulting projects for real companies, a practice that has been imitated by many schools since.

More recently, in 2014, RBS became the first business school to have more women students in the full-time MBA program than men, says Sharon Lydon, associate dean and executive director of MBA Programs at Rutgers Business School. This is significant because most business schools -- even top-tier ones -- are fighting to get more women candidates, who notoriously reject graduate business school in favor of other programs that better conform to their personal and professional needs.

"What separates our business school from others is the community of people willing to go above and beyond to help each other," says Lydon.

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New Brunswick, NJ
Wednesday, September 2, 2015

Bloomberg Business

Rutgers Business School Executive Education is launching a one-week Digital Marketing Certificate Program in Chicago, IL.

This program, offered by Rutgers Business School in partnership with the University of Notre Dame Mendoza Stayer Center for Executive Education, will begin Sept. 28 at the Notre Dame Chicago campus.

"It is incredibly exciting to bring our world class digital marketing program to Chicago with the partnership of our colleagues at Notre Dame's Stayer Center for Executive Education," said Peter Methot, managing director of executive education at Rutgers Business School. "We have helped our custom clients achieve their goals in Chicago for several years but are thrilled to finally offer this cutting-edge program to the public in this convenient and desirable location."

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NJBIZ
Newark, NJ
Monday, August 31, 2015

NJBIZ

The Rutgers Center for Urban Entrepreneurship and Economic Development announced last week its partnership with ETSY — the publically traded e-commerce company focusing on handmade and unique manufactured items — to host a Craft Entrepreneurship Program in Newark.

“CUEED is working to build partnerships with companies such as ETSY to further economic opportunities for small entrepreneurs who live and/or operate in urban markets and contribute to local economic development,” said Lyneir Richardson, executive director at CUEED. “The ETSY platform will provide an opportunity for urban entrepreneurs to gain exposure, generate new sales and reach new customers in places all around the world.”

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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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New York, NY
Wednesday, August 26, 2015

Bloomberg Business

For the first time in four years, investors are grappling with a stock market correction, watching their retirement portfolios dwindle and second-guessing themselves.

They roll out the same advice every time stocks take a turn for the worse. But as the volatile stock market of the past two weeks has shown, not everyone heeds it.

How to make heads or tails out of the stock market? Here are five things to know:

1. Where do we stand?

The major stock market indexes rebounded on Tuesday but reversed course in late-day trading and closed with a loss.

All told, it met the definition of a correction, which is when stocks fall more than 10 percent.

2. Why is this one getting so much attention?

A bunch of reasons. The Dow plummeted 1,000 points early Monday, enough to get anyone to do a double take. Investors are bombarded with information around the clock -- from television, newspapers and social media. And it had been four years since the last correction. Graduates could have gone their entire college careers without seeing a steep downturn.

Corrections "usually happen once every two years," said John Longo, a finance and economics professor at Rutgers Business School. "The fact we've gone four-plus years without it is longer than average."

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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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Newark, NJ
Tuesday, August 18, 2015

Bloomberg Business

Rutgers Business School will bring together academic, business and community leaders on Aug. 28 to discuss ways of forging and sustaining public-private partnerships capable of generating jobs, growing companies and creating social change.

The roundtable discussion "Restart, Sustain and Grow Newark's Economic Development," will explore ways that the city's largest institutions, including Rutgers University, can do business with manufacturers and small companies in Newark.

"You have all of these big anchor institutions in Newark. Why aren't they buying from the local area," said Rutgers Business School professor Kevin Lyons, one of the event organizers. "The money could be very significant."

The panel will include Ralph LaRossa, president and chief operating officer of PSE&G; Greg Ergenbright, president of Schindler Elevator Corp.; Tom Bracken, president and chief executive officer of the New Jersey Chamber of Commerce; and Roland Anglin, director of Rutgers University's Cornwall Center. The panel discussion will be moderated by NJTV's Chief Political Correspondent Michael Aron.

Interested in attending "Restart, sustain and grow Newark's Economic Development." Register here. The Aug. 28 event is being held at Rutgers Business School's Bove Auditorium, One Washington Park, Newark, from 8 a.m. until 11:45 a.m.

Full Article



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.

Full Article



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.

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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."

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