In the Media

Daily Targum
Livingston Campus, Piscataway NJ
Monday, November 24, 2014

Rutgers Business School students found a place on the basketball court when they got the opportunity to observe women’s basketball coach C. Vivian Stringer train her team this past October.

A course called “Management Skills” made its debut at the Rutgers Business School in the fall of 2013, said Phyllis Siegel, an associate professor in the Department of Management and Global Business, which developed this event. The course is required for all first-year business school undergraduate students.

The learning objectives of the course include the ability to better understand and work more effectively with others. The department wanted students to have an opportunity to meet and observe a “real” team that echoes concepts and utilizes skills taught in class.

“The course focuses on specific concepts and critical skills that individuals need to know and have in order to work more effectively with others in organizations, work well in teams and lead teams and organizations successfully,” Siegel said.

Full Article



badcredit.org
Newark, NJ
Monday, November 24, 2014

A pair of real estate economists claim they’ve found a new quirk in the post-recession housing market — not knowing the price of their homes may have kept many homeowners from defaulting on their mortgages.

Rutgers Business School Professor Morris A. Davis and University of Wisconsin-Madison Associate Professor Erwan Quintin revealed their findings in their latest paper “Default When Current House Prices are Uncertain.”

One of the biggest issues here, Davis and Quintin point out, is “anyone that owns a house knows they cannot state the current sales price with certainty.” For this reason, Davis likened homes as an investment similar to both automobiles and art.

“The physical structure of the home is reproducible and should be easily valued based on replacement cost, like a car,” Davis said. “And the land the home sits on is not reproducible and therefore harder to value (although there may be close substitutes), like art. Real estate prices sometimes look like car prices and sometimes look like art prices for this reason.”

Full Article



Newark, NJ
Monday, November 24, 2014

On any Sunday morning, cars fill the parking lots of Central Jersey shopping centers.

Shopping: It's just what we do. And in the coming days, we'll be shifting into high gear.

"It is the state sport," said Marc Kalan, a faculty member of the Rutgers Business School, teaching in New Brunswick and Newark. "New Jersey has the widest array of shopping possible, from your most basic dollar store to small downtown shop owners to big-box retailers to the most exclusive retailers in the country. The Short Hills Mall is like Madison Avenue under glass."

It's also about the audience, Kalan added. "New Jerseyans have a high average income and the heaviest concentration of people in the country without having a huge city. This megalopolis makes it a very exciting place for retailers, big and small, to locate."

Full Article



All Analytics
Newark, NJ
Friday, November 21, 2014

It's interesting how one story can lead to another. I was researching an article here about Michael Koukounas's book, Real-World Analytics, and during an interview with Koukounas, he happened to mention the exciting stuff happening at his alma mater, New Jersey's Rutgers Business School. In particular, the Master's in quantitative finance (MQF) program.

The interesting aspect of his recommendation, it turns out, was not that it's a new program. It's been around for more than a decade; he was pointing to it because of increased relevance for employers. That's somewhat interesting. But another eye-opening aspect, it turns out, is that here was a Rutgers MBA promoting a master's degree that wasn't an MBA.

It turns out that the MQF is creating talent where MBAs are often inadequate.

As Professor Yangru Wu, the MQF program director, explained to me, MBA programs generally do not produce enough candidates with the combination of skills needed for employers' analytical positions.

Why not design an entire academic program around the quant, computer programming, and finance proficiencies required?

That's exactly what Rutgers did in 2001 with MQF, starting with seven students, back when it was one of the first such programs in the world. Now, 110 students are enrolled in the two year program (out of roughly 1,000 students who would have applied over that time). The MQF has grown in stature, too, becoming a top-10 national program, with peers and hope-to-be-peers being University of California at Berkeley, Carnegie Mellon, NYU, Columbia, Cornell, Georgia Tech, University of Michigan, and Fordham.

"These are the kinds of programs that we are comparing and competing with to a certain degree," Wu said. In total now, Wu estimated that 100 similar programs exist.

Full Article



Mondaq
Newark, NJ
Friday, November 21, 2014

The recent increase in hedge fund activism is "hyperbolic" and should be carefully assessed, according to two notable scholars, John C. Coffee Jr. (corporate law; Columbia) and Darius Palia (corporate finance; Rutgers Business School), who have just published on comprehensive study on hedge fund activism entitled, "The Impact of Hedge Fund Activism: Evidence and Implications." The authors address various perspectives on the benefits and repercussions of hedge fund-led corporate change, relying on statistical analysis and market data to answer four questions:

  • Who are the targets of activism?
  • Does hedge fund activism create real value?
  • What are the sources of gains from activism?
  • Do the targets of activism experience post-intervention changes in real variables?

Full Article

Download Paper



BusinessBecause
New Brunswick, NJ
Wednesday, November 19, 2014

On weekday mornings, Daria Demina rises at 5AM in Moscow with a thirst for knowledge. The financial bachelor’s student, enrolled at the Plekhanov Russian University of Economics, is at her peak of activity from 6AM. The only problem is that her classmates and lecturers are all still fast asleep. “I… Have a weird regime,” says Daria.

The ambitious Russian financier won’t wait for them to wake. Like a growing number of MBA candidates, she plugs into cyberspace to supplement her learning in-between degree studies. “I learn fast, and when things are too slow at lectures at university I get frustrated,” Daria says.

Students like Daria, who have grown up swiping, texting and blogging, are increasingly demanding flexibility in their study.

“In the recent trends we have seen, managerial professionals do not have the bandwidth to dedicate two to five years of their time to an MBA,” says Peter Methot, who leads executive education at Rutgers Business School in the US. Like a handful of others, Rutgers runs a “mini-MBA” that is taught entirely online.

Full Article



NJBIZ
Newark, NJ
Tuesday, November 18, 2014

The Rutgers Business School's Center for Urban Entrepreneurship and Economic Development announced Tuesday its inaugural Entrepreneurship Awards.

The awards, according to a news release, will be given as part of an event CUEED is hosting for Global Entrepreneurship Week.

Mukesh M. Patel, founder of Somerset-based JuiceTank, is being recognized as one of the Rutgers Alumni Entrepreneurs at the event.

CUEED Executive Director Lyneir Richardson said the aim of the awards is to create awareness of forward-thinking business people and the role they play in growing the economy.

“This new award initiative at Rutgers Business School is dedicated to recognizing innovative entrepreneurs who are having an impact on their respective industry, the community and employees,” Richardson said in a statement. “These awards celebrate those inventors, disruptors, luminaries and newsmakers that have an impact on urban environments, regional business communities and even the global economy.”

Full Article



Financial Post
Newark, NJ
Sunday, November 16, 2014

Once reviled as a threat to the status quo in executive suites and clubby corporate boardrooms, activist hedge funds are today lauded as catalysts for change, gaining clout and board seats in blue-chip companies: Canadian Pacific Railway, Microsoft Corp. and Procter & Gamble Co.

Like the leveraged-buyout kings of the 1980s and 1990s immortalized as “Barbarians at the Gate,” hedge-fund activists are the new breed of corporate crusaders shaking up lethargic companies, and overhauling the way businesses operate in the name of unlocking value for shareholders. The trouble is, their results don’t quite live up to the celebrity.

There are currently more than 400 activist hedge funds flexing their muscle worldwide: during the first six months of 2014, 148 activist campaigns were launched in the U.S. — up from 52 in 2005-2006. “Whatever their size, few companies today seem immune from the reach of hedge-fund activism,” concluded the report by Prof. Coffee and Darius Palia, a law professor at Rutgers Business School.

Full Article



BusinessBecause
New Brunswick, NJ
Sunday, November 16, 2014

America and Canada have become clusters for new “mini-MBA” courses which are being taught from Toronto to New Brunswick, but the trend has not yet emerged across Europe.

“It acts as a complement,” says Peter Methot, managing director of executive education at Rutgers Business School, which runs up to 18 “mini MBAs” on topics such as entrepreneurship and digital marketing.

“The mini-MBA also serves the purpose of focusing on a specific subject matter in a condensed period of time,” he adds.

Where MBA degrees are expensive, mini courses cost as little as $5,000 and have relaxed entry requirements.

They are targeting middle-managers, according to Alan Middleton, executive director of the Schulich School of Business’ Executive Education Centre. “The mini-MBA tends to get people later on in their careers,” he says, who want to move into broader responsibilities or more senior roles. “They don’t really have time to go back [to business school] for a year or an 18 month program,” Alan adds.

In that sense they are similar to custom executive education courses and EMBAs, which attract candidates who want to move up the ladder in their current careers, rather than establish new ones – although this is starting to change.

Peter says: “We have seen an exponential increase in the value employers place on a mini-MBA.”

Full Article



NVTC
Amsterdam
Tuesday, November 11, 2014

The role of fundraising for the board of trustees of arts organizations.

On November 11, 2014 the NVTC held an exclusive event, sponsored by Camunico and DHR International, where James Abruzzo, co-founder of the Institute for Ethical Leadership at Rutgers Business School shared his expertise concerning the role of fundraising for the board of trustees of arts organizations.

DHR International has developed a prominent position among the cultural sector in the US under the leadership of Mr. James Abruzzo. Mr. Abruzzo has also consulted with cultural organizations in the UK, Germany and Italy as they confront challenges similar to those in The Netherlands.  In that role, he has recruited fund raising professionals to European arts organizations.

In 2013 Mr. Abruzzo, who leads DHR’s global relationships with arts clients, shared his experiences about cultural entrepreneurship in the US. This year Mr. Abruzzo shared his knowledge and experiences about the role of trustees in fundraising for the arts in the US. During this event we continued the dialogue on private fundraising and provided insights into how trustees of Dutch arts organizations may play a successful role.

Read more about the Expertmeeting: Report International Expertmeeting_The role of fundraising for the board of trustees (PDF available)



NorthJersey.com
Newark, NJ
Tuesday, November 11, 2014

Lei Lei, a Rutgers professor, has been appointed dean of Rutgers Business School - Newark and New Brunswick, effective Jan. 1. Lei replaces Glenn Shafer, the school's current dean, who has held the post since 2011.

According to a release, Lei has been a faculty member at Rutgers since 1989, after she received a doctorate in industrial engineering from the University of Wisconsin.

While at Rutgers, she was founding director of the Rutgers Center for Supply Chain Management in 2001 and founding chair of the Department of Supply Chain Management and Marketing Sciences in 2008.

The North Edison resident, who was born in Dalian, China, is the second woman to hold this position, according to Rutgers. In 2007, Rosa Oppenheim was executive vice dean of the school for two years.

Full Article



NJ.com
Newark, NJ
Tuesday, November 11, 2014

Professor Lei Lei will take the reins from Glenn Shafer, who has led the Rutgers business school since 2011. Lei's appointment is effective Jan. 1, 2015.

The professor has been a faculty member at Rutgers since receiving her Ph.D. in industrial engineering from the University of Wisconsin in 1989. She has received multiple best professor awards at Rutgers Business School and earned a nomination for the Professor of the Year Award in 2010.

Lei was the founding director of the Rutgers Center for Supply Chain Management in 2011. She helped bring the school's Supply Chain Management program to national and international prominence, the school said in a news release.

Full Article



NJBIZ
Newark, NJ
Tuesday, November 11, 2014

Rutgers Business School-Newark and New Brunswick will have a new dean with the new year, it announced Tuesday.

Lei Lei will take over from Glenn Shafer, effective Jan. 1, 2015, Rutgers Business School said in a news release.

Three key Rutgers officials — Rutgers-Newark Chancellor Nancy Cantor, Rutgers-New Brunswick Chancellor Richard Edwards and Rutgers-Newark Provost Todd Clear — said in a joint statement that, “A combination of Dr. Lei’s accomplishments as an academic leader, her acuity as a scholar and teacher, deeply engaged with business challenges facing communities locally and globally, were among the key qualities that led to her selection.”

Full Article



Newark, NJ
Tuesday, November 11, 2014

A combination of Dr. Lei's accomplishments as an academic leader, her acuity as a scholar and teacher, deeply engaged with business challenges facing communities locally and globally, were among the key qualities that led to her selection, according to a statement from Nancy Cantor, Rutgers University Newark chancellor; Richard Edwards, executive vice president for academic affairs and Rutgers University New Brunswick chancellor; and Todd Clear, Rutgers University Newark provost.

"Lei highly values our faculty of top-notch researchers and practitioners, dedicated staff, and many strong programs initiated and cultivated by previous leaders of RBS.   She is very proud of our breathtakingly diverse, high-quality, and vibrant students, supportive alumni, and strong partnerships with the business community," said the statement from Cantor, Edwards and Clear.

Lei's many contributions to the university include becoming the founding director of the Rutgers Center for Supply Chain Management in 2001 and establishing the Department of Supply Chain Management and Marketing Sciences in 2008 as founding chair.

Full Article



Philadelphia
Tuesday, November 11, 2014

Michelle Lee, a vice president of Wells Fargo Bank, has been promoted to the top community bank executive position on the East Coast.

Banking was not part of her initial career plans. After earning a degree in music from Boston Conservatory, Lee aspired to become an opera singer. When she joined Wells Fargo (then First National State Bank) as a teller in 1984, she thought it would be an interim job while she pursued singing.

Lee has received many awards throughout her career. She will be honored by the Rutgers Institute for Ethical Leadership with the 2014 Steven J. Diner Ethical Leadership Award next month. Created in 2011 in recognition of a champion of the IEL, Steven J. Diner, former Rutgers University-Newark chancellor, this award is given annually to an individual who demonstrates a long-term commitment to strengthening civil society through ethical leadership.

“Michelle’s passion and commitment to positive change in our community is evident through her remarkable legacy in the city of Newark and New Jersey,” said James Abruzzo, co-founder at the IEL. “The IEL is proud and honored to celebrate such an outstanding individual as Michelle, who exemplifies integrity and ethical leadership in both her personal and professional endeavors.”

Full Article



Yahoo! News
Newark, NJ
Wednesday, November 5, 2014

On Thursday, Dec. 11, 2014, Rutgers Institute for Ethical Leadership (IEL) will honor Michelle Y. Lee, regional banking executive, Eastern Region for Community Banking at Wells Fargo, with the 2014 Steven J. Diner Ethical Leadership Award.

Created in 2011 in recognition of a champion of the IEL, Steven J. Diner, former Rutgers University-Newark chancellor, this award is given annually to an individual who demonstrates a long-term commitment to strengthening civil society through ethical leadership. In addition to the recognition, the awardee names a nonprofit organization in Newark to receive a monetary prize provided by the IEL. Lee has selected the Marion P. Thomas Charter School Foundation to receive this year's award.

"Michelle's passion and commitment to positive change in our community is evident through her remarkable legacy in the City of Newark and New Jersey," says James Abruzzo, co-founder at the IEL. "The IEL is proud and honored to celebrate such an outstanding individual as Michelle, who exemplifies integrity and ethical leadership in both her personal and professional endeavors."

Full Article



FindLaw
Newark, NJ
Tuesday, November 4, 2014

In a paper published in The University of Chicago Law School's Journal of Legal Studies, Michael Simkovic, a professor at Seton Hall University School of Law, and Frank McIntyre, a professor of finance and economics at Rutgers Business School, wanted to know whether it's worth it to go to law school. Their conclusion: A law degree adds about $1 million on average to a person's lifetime earnings.

From the outset, Simkovic and McIntyre state what might be fairly obvious: "The economic value of a law degree turns not on whether law school graduates practice law but rather on how much more readily they find work with the law degree than they would have without and how much more they earn with the law degree than they would have without."

Full Article



REIT Magazine
Washington, DC
Friday, October 31, 2014

Although the U.S. economy continues to gain ground lost during the financial crisis, the pace of growth for much of 2014 has proved for many to be frustratingly slow and uneven. To get a clearer idea of what to expect heading into 2015, REIT magazine assembled four leading economists for a roundtable discussion.

Participants included: Morris Davis, Paul V. Profeta Chair of Real Estate and the academic director of the Center for Real Estate Studies at Rutgers Business School; Christopher Mayer, Paul Milstein Professor of Real Estate, Finance and Economics at Columbia Business School; Kerry Vandell, director of the Center for Real Estate at The Paul Merage School of Business, University of California – Irvine; and Mark Zandi, chief economist of Moody’s Analytics.

Full Article



NJBIZ
Newark, NJ
Wednesday, October 29, 2014

Rutgers Business School in Newark will be offering a two-day executive educational program called Executive Leadership: An Ethical Journey to Success.

The program, hosted by The Institute for Ethical Leadership at Rutgers Business School, will culminate with a certificate of completion.

According to Ann K. Buchholtz, Rutgers professor of leadership and ethics and research director at IEL, the course will provide insight on how to navigate the sometimes murky waters and difficult decisions of doing business.

“This program provides tools for tackling the toughest challenges, those without easy answers,” she said in a statement.

Full Article



NJBIZ
Newark, NJ
Wednesday, October 29, 2014

The Outdoor Exchange (OX) is the first New Jersey company to truly embrace the most modem incarnation of borrowing from your neighbor.

Brett Gilbert, an associate professor at Rutgers Business School's Department of Management and Global Business, said the Internet has allowed for these broader associations by connecting strangers in a way that previously was impossible.

"Technology helps to build in a level of trust between a local person and a stranger who would be using a new type of good," she said. "It's allowing people to still conduct these transactions with strangers, but have a greater level of confidence that the deal will go through." That hasn't always been the case. Subscription sites such as the Outdoor Exchange have evolved from previous marketplaces that allowed for anonymity and less accountability.

"You can certainly do things through Craigslist, but one of the downsides is that people will oftentimes try to scam you," Gilbert said.

One way of holding members accountable for their behavior is allowing users to rate one another based on their transaction. These rating systems have been a prominent feature on e-commerce sites such as eBay and Amazon, but have played a large role in the growing Crust of shared economy businesses such as the rideshaiing service über and Airbnb, the local home-renting website.

"It really helps people to know the character of the person they're dealing with," she said. "That's why these rating systems are very effective, because it gives people an opportunity (to know) how this person has done in previous transactions.

Full Article