In the Media

CBS Money Watch
New York, NY
Monday, September 28, 2015

CBS Money Watch

Donald Trump has sprinted to the front of the pack of Republican presidential hopefuls by defying party orthodoxy on certain issues, while embracing it in other ways.

His tax plan does both.

In proposing to give U.S. multinationals a tax break in return for repatriating overseas profits, Trump is hewing to previous Republican policies, including a tax "holiday" enacted in 2004 under President George W. Bush. Trump said Monday that levying a reduced tax rate on those profits will encourage big U.S. companies -- including Trump's own global real estate empire -- to invest much of the $2.5 trillion they have parked offshore here at home, sparking job-creation and economic growth.

"This was a good idea for five years ago," said Michael Santoro, professor of management and global business at Rutgers Business School. "There's been reporting that U.S. multinationals are already bringing some of this money back. Especially with the decline of China, for all our problems here in the U.S., our economy is pulling away from the rest of the world as far as being a safe place to invest."

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Vice Media, LLC
Newark, NJ
Thursday, September 24, 2015

Vice Media, LLC

Millennials have the reputation of not being in a hurry to settle down, and it's true that young people are waiting longer to purchase property than previous generations, a trend that's likely contributed to historically low homeownership rates. But this is changing as my generation acquires wealth and starts to want the stability my adult-but-boring Arizona friends have.

"I think it depends how old you are," said Morris Davis, a real estate professor at Rutgers Business School. "If you're 23, no, you should not be thinking about buying a house. But if you're 28, yes."

"You have to buy smart and get lucky at the same time," explained Davis, the Rutgers prof. "So for example, if you knew to buy real estate in London in the 50s, it would have been the most spectacular investment you could ever make. But you had to know to buy in London—if you bought in Manchester or Nottingham or Dover, it would have been lousy."

"People think New York is overpriced," Davis continued, "But is it? It's cheap compared to London and San Francisco. If you think it will look eventually like either of those places, you should buy a home there."

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New Brunswick, NJ
Thursday, September 24, 2015

The Daily Targum

Reji, a 20-year-old Rutgers Business School junior, is one of six young men who acquired $290,000 in seed funding on Sept. 22 for Drizzle SMS, a mobile app that pays users to text their friends by placing small banner ads in personal conversations. Rewards are distributed in forms of “Drops,” which can be translated into cash, PayPal, Amazon gift cards and charity donations.

There are organizations on campus that support hundreds of students' creative endeavors, such as The Center for Urban Entrepreneurship and Economic Development (CUEED) and organizations like the Rutgers Entrepreneurial Society, said Jeffrey Robinson, associate professor of management and entrepreneurship in the Rutgers Business School and director of CUEED.

“When I first arrived at Rutgers, we were teaching one or two courses and had 20 or 30 students,” Robinson said. “And then more and more students found out, and we had to increase the number of sections and then we created the minor and we opened it up across the University.”

With the concentration in entrepreneurship, Alfred Blake, assistant director of Undergraduate Entrepreneurship Programs, said he wants to give students actual professional experience.

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Herald Tribune
Sarasota, FL
Monday, September 21, 2015

Herald Tribune

Do you think an elevator speech has more impact going up rather than down? What if the building only has two floors?

The term was coined by Vanity Fair editor Michael Caruso and has nothing to do with Otis elevators. There are many differing opinions on what constitutes a great elevator speech. I decided to seek varying opinions and let you decide how to create or refine the elevator speech for your business.

Said Alfred Blake, assistant director of undergraduate entrepreneurship programs at Rutgers Business School, "Will you spend another Netflix Friday alone? That depends on your pitch. The perfect elevator pitch is the lure that leaves the listener wanting more. Your pitch must create enough intrigue to warrant another date."

"Many people think strictly about business when discussing a pitch," Blake said.  "I liken pitching to a date."

"Is your pitch attractive? Questions to ask: Is your message appealing, who else believes you, do you own it, is it authentic? Compared to dating, these qualities are: appeal, validation, confidence and trust."

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Edison, NJ
Friday, September 18, 2015

Aloo gobi. Mattar paneer. Dal tadka.

Akhil Shah grew up on dishes like these, Indian staples prepared by his mother. But he knows that meals like these are unfamiliar to many, and that busy people who enjoy home-cooked meals don’t have the time to seek out new ingredients and learn how to prepare them.

So Shah, a 24-year-old Rutgers Business School graduate who lives in Edison, created Chutney Chefs.

“It kind of fit my need,” said Shah, who began working on the business concept in July 2014 while employed as a claims specialist for Liberty Mutual. “I work a full-time job, and right now I have a mom who is able to make food for me. But I was thinking long term. I love Indian food, and also, there are a lot of first-generation, American-born Indians that can use this.”

He also realized that plenty of people are interested in Indian food but that making it at home can be “really complicated, with the spices and the prep,” he said. “It’s becoming more and more popular, more restaurants are popping up. If people can (have this at home) to fit a busy schedule, why not?”

Home cooks agreed: Chutney Chefs launched in January, and Shah receives between 70 and 80 orders a day from New Jersey and 10 other states.

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Salon.com
San Francisco, CA
Tuesday, September 15, 2015

But before judging the response to the refugee crisis by some EU countries, consider the existing social conditions in the Europe, where this wave of displaced people seek sanctuary. Across much of Europe, youth unemployment is already at an all-time high, with one in five young people ages 15 to 24 being idle. In countries like Greece, Spain and Italy youth unemployment ranges from 40 percent to over 50 percent. "In Greece youth unemployment is 50 percent, but in Germany youth unemployment is only 7 percent, with overall unemployment well below 5 percent and jobs going begging,” says Farok J. Contractor, professor of management and global business at Rutgers Business School.

Read the story.



FindMBA.com
Berlin, Germany
Tuesday, September 15, 2015

Arash Azadegan, associate professor in the department of supply chain management at Rutgers, says the supply-chain management program trend started about 10 years ago, after companies decided they couldn't do everything in-house and decided to recruit suppliers, especially cheap suppliers in emerging economies such as India, China and Brazil. Now, says Azadegan, his students go on to a host of different careers under the supply chain umbrella, including procurement, supplier development engineering, management, supply chain analysis, or supply risk management.

Read the article.



CNBC
New York, NY
Monday, September 14, 2015

CNBC
Andrew Huszar, senior fellow, Rutgers Business School and former Federal Reserve official, was interviewed on CNBC about the Fed possibly raising the interest rate.

Huszar gave his views on the Federal Reserve’s changing role in financial markets and the Fed’s independence from Wall Street dissipating.

Watch Video



Belmar, NJ
Tuesday, September 8, 2015

Globe Advisor

Rutgers Business School MBA alumnus Desi Saran and his partners Abby Taylor and Robert Giuliani see sales soar after they invest prize money from annual business plan competition.

In the dog days of summer, a tiny company selling fruit bowls and smoothies made with exotic acai berries was one of the hottest businesses in Belmar.

Playa Bowls opened last summer as a sidewalk stand built around a giant cooler on the cement. Still, it drew crowds – large ones. This year, fans of the acai berry bowls returned as if they had been waiting all winter for another taste of the fruity snacks. It wasn't long before lines of customers started forming again, sometimes winding down Ocean Avenue toward Eighth.

But Rutgers Full-Time MBA alumnus Desi Saran and his partners Abby Taylor and Robert Giuliani, another Rutgers graduate, had already decided to up their game. After winning Rutgers Business School's annual business plan competition in April, they invested in a storefront that would bring their customers into the shade.

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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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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."

Full Article



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."

Full Article



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."

Go to story



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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