In celebration of National Hispanic Heritage Month beginning Sept. 15, WalletHub assessed the minority business climate within the 150 largest U.S. cities. It did so by examining 19 key metrics such as Hispanic entrepreneurship rates, corporate tax systems and the share of businesses owned by Hispanics. WalletHub, a social network launched by Evolution Finance and built around personal finance for consumers and small business owners, reached out to experts, including Rutgers Business School Professor Arturo Osorio, to flush out their rankings with commentary on issues related to Hispanic business ownership.
James Abruzzo co-founder, Institute for Ethical Leadership, spoke with Chris DeBello regarding the Sussex County Community College ethics probe. Abruzzo shared his anaylsis of ethics questions regarding the Sussex County NJ Community College Board of Trustees.
Sussex County Community College trustees Glen Vetrano, Edward Leppert and Glenn Gavan had conflicts of interest with an engineering firm they hired to do work at the school according to an investigative report released August 25.
Vetrano, Leppert and Gavan all did work for, and were paid by, CP Engineers, a Sparta-based firm that has been awarded hundreds of thousands of dollars’ worth of work by the college since last year, according to the report compiled by Saiber, a Florham Park-based law firm.
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With increasing levels of carbon dioxide accumulating in the atmosphere and moving into marine ecosystems, the world's oceans are becoming more acidic.
The oceans may be acidifying faster today than at any time in the past 300 million years, scientists have found.
To address concerns for acidifying oceans, the National Science Foundation (NSF) has awarded new grants totaling $11.4 million through its Ocean Acidification program. The awards are supported by NSF's Directorates for Geosciences and Biological Sciences.
From tropical oceans to icy seas, the projects funded will foster research on the nature, extent and effects of ocean acidification on marine environments and organisms.
Paul G. Falkowski, the first holder of the Bennett L. Smith Chair in Business and Natural Resources, and Co-Principal Investigator with Debashish Bhattacharya, Department of Ecology, Evolution & Natural Resources, School of Environmental & Biological Sciences, received funding for their project: Ocean Acidification: Mechanisms of Coral Biomineralization, sponsored by Rutgers University - New Brunswick.
From the abstract:
This research seeks to understand how corals make their skeletons. The skeletons of stony corals are critically important biological structures that support huge areas of tropical and subtropical marine life as well as providing natural barriers against waves, storms, and floods. However, it is not yet known how corals construct their skeletons, nor is it fully understood what the effect of ocean acidification will have on this process.
The research team will create online learning modules for undergraduate students. In addition, the research will be incorporated into the Education and Public Outreach group at Rutgers University for marine science education of K-12 students and training of K-12 teachers. Finally, the project includes training and career development for two post-doctoral fellows.
As Hailee Bellusci enters her final year of college and begins finishing her curriculum as a student in the Rutgers Business School, she knows she will walk away with a skill not taught in any of her courses: golfing.
She is not a member of the golf team, nor does she have any experience in golf prior to college. But as a member of Women Business Undergraduates in Leadership Development (Women BUILD), a leadership program for high-achieving and motivated women in RBS, it is one unexpected perk she is lucky enough to experience.
As a budding career woman in modern-day corporate America, she is honing her golf skills, readying to play all 18 holes at a future company retreat. But until she graduates, she is still an active part of Women BUILD, networking with former BUILD alumni and learning about effective leadership and communication skills.
The mission of Women BUILD is multi-faceted, said Sangeeta Rao, assistant dean for mentoring programs at RBS. She wants to build women into strategic and business-minded thinkers with an ethical and global perspective.
“We give [the students] the knowledge and the skills in order to [accomplish that],” she said.
The men and women who make up the Class of 2018 at Rutgers, The State University of New Jersey, come from 40 states and more than 60 countries. Collectively, they comprise one of the largest enrolling classes in Rutgers' history, and will be joining a community of students from more than 100 countries and 50 states, as well as the District of Columbia and Puerto Rico.
Courtney McAnuff, vice president for enrollment management, calls them "one of the most academically talented and diverse groups of students to ever enter the university."
Sara Prado of Clark, a graduate of Arthur L. Johnson High School, recently won the Helping Hands Homecare Scholarship presented by DECA, an international association for high school and college students and teachers of marketing and entrepreneurship. She'll be starting at the Rutgers Business School in Newark, with plans to major in marketing and an eye on a career in marketing and promotion for Broadway theaters.
The Ice Bucket Challenge has its fans and critics. But there’s no denying, for a very worthwhile organization, the ALS Ice Bucket Challenge has generated tremendous awareness and financial success. It is likely to go down in history as one of the most successful viral social media campaigns, ever; and to serve as a model for other non-profits and profit organizations who will attempt to duplicate this level of success for their causes.
Rutgers Business School Executive Education, where I teach, has a Social Media Marketing Mini-MBA for Non-Profits. Donna Dourney York, was a participant in the program. Donna has made amazing progress changing the way people perceive ALS.
On top of the 75 percent of white Americans reporting “that the network of people with whom they discuss important matters is entirely white, with no minority presence,” the researchers also found that only 15 percent of white folks reported having a racially diverse social network. In comparison, 65 percent of black Americans reported having an all-black social network, and 23 percent said that their network is diverse.
“Whites help other whites, especially when unemployment is high,” Rutgers Business School vice dean Nancy DiTomaso wrote in The New York Times. “Although people from every background may try to help their own, whites are more likely to hold the sorts of jobs that are protected from market competition, that pay a living wage and that have the potential to teach skills and allow for job training and advancement.”
The three Sussex County Community College trustees who were paid by an engineering firm they also hired at the school weren’t aware of their ethical obligations required by state law and the school’s ethics code, an independent investigation found Monday.
But experts now say they doubt that finding.
“It would be unusual for three members to not know their responsibilities,” added Alex Plinio, co-founder of the Institute for Ethical Leadership at the Rutgers Business School. “Perception is as important as reality when it comes to these situations.”
An impressive slate of national and state speakers will headline the first of a series of solution-based Resilience Workshops that link resilience to competitiveness, preparedness to prosperity, and motivate companies and communities to think it terms of shared outcomes and collaborative solutions.
"A lot of effort was invested in organizing this high level, knowledge packed all-day seminar," said Brenda Hopper, NJSBDC CEO-State Director. "The topic of resilience and related best practices to prevent business operational disruptions are more important than ever and we think small business owners attending will take away a lot of valuable information they can utilize."
"We're encouraged that various size businesses at different levels of growth will participate in this thought provoking session," said Deborah Smarth, NJSBDC COO-Associate State Director. "Having business leaders at all levels sharing their experiences and operating procedures in relation to market disruptions or natural disasters will provide a good framework for other small businesses to follow.
Whether you’ve risen to the ALS Association’s Ice Bucket Challenge with enthusiasm, or its oversaturation on social media has turned you into a wet blanket, local marketing experts said the craze has undeniably become a game changer for fundraising campaigns. How to explain why things go viral? In many ways, said industry observers, it isn’t anything new. That bucket challenges surfaced on a grass-roots level and spread virally traces back to a business phenomenon as old as the hills: word of mouth, said Professor Ashwani Monga, chairman of the Marketing Department at Rutgers Business School in Newark. "As we know, word of mouth matters most in any successful product or method. So in that sense, it has definitely worked," he said.
Through a federal grant, small to midsize New Jersey businesses looking to institute or expand environmentally friendly practices can now get pro bono advice and technical assistance from experts in the green arena.
The New Jersey Small Business Development Center's new initiative, supporting sustainability and pollution prevention with free counseling, is being funded by the U.S. Environmental Protection Agency. The center's network is a non-profit, federal-state educational partnership based at the Rutgers Business School in Newark.
Business, education, government, and community representatives will gather to discuss strategies for creating sustainable, scalable business solutions for urban communities as part of the inaugural Urban Entrepreneurship Symposium in October.
The keynote speaker for the Symposium is Jeffrey Robinson from Rutgers Business School, Center for Urban Entrepreneurship and Economic Development. CUEED is the first center of its kind in the nation to integrate scholarly works with private capital, government, and non-profit sectors to develop citywide resources and bring renewed economic growth and vitality through urban entrepreneurship.
As academia attempts to create the accountant of the future, some programs are marching to the beat of their own drum.
Alexander Sannella, the director of the MBA in Professional Accounting program at Rutgers Business School, said the school has found a liberal arts background can make for the ideal accounting student.
“It's about those broader thinking skills,” Sannella said. “And definitely you find that the decision-making and communication skills are strong from that population.”
New research by a team that includes a finance expert at Southern Illinois University Carbondale suggests that some illegal insider trading is the result of information leaks from state and federal regulatory agencies.
Wanli Zhao, associate professor of finance, partnered with David M. Reeb, the Mr. and Mrs. Lin Jo Yan Professor in Banking and Finance at the National University of Singapore Business School, and Yuzhao Zhang, assistant professor at the Rutgers University Business School, for the study into insider trading involving supervised industries.
“Our findings are somewhat controversial in that we’re saying the presumed protectors of the shareholders and general public interests appear to be using their positions to their advantage,” Zhao said.
At Rutgers Business School, academic leaders hope to bring Newark’s diverse community of experts to the table by sparking collaboration among the city's businesses, faculty, and students of Rutgers-Newark, with an eye toward finding solutions to foster economic development in the greater Newark community. Through the Rutgers Center for Supply Chain Management, Nancy Cantor, chancellor of Rutgers University – Newark and her colleagues hope to “create an infrastructure of collaboration to really make change.”
Paul Goldsworthy, a professor at Rutgers' Department of Supply Management & Marketing Sciences, talked about the importance of a symbiotic relationship between business and education from the perspective of the community's universities.
Wayne Eastman, another Rutgers professor and chair of the third round table at the event, described this relationship between business and education as "an infrastructure of collaboration in the employment supply chain."
A new study finds that the emergency extensions of unemployment benefits during the recession went a long way toward preventing mortgage defaults, even more than government programs meant to prevent foreclosures by focusing only on reducing monthly payments.
The study’s findings also strengthen the case for foreclosure-prevention programs that enhance a borrower’s ability to pay. One such idea was pitched early in the recession by researchers from the Federal Reserve Bank of Boston and the Board of Governors but went nowhere. It called for providing homeowners at high risk of default — those who are both unemployed and underwater — with government loans or grants to help cover their mortgages.
In contrast, during the recession the Obama administration’s Home Affordable Modification Program, known as HAMP, only lowered monthly payments, which is not a solution for homeowners with significant income disruption and is a more costly way of preventing defaults, said Morris A. Davis, the academic director of the Center for Real Estate Studies at Rutgers Business School and a former advocate of the government loan proposal.
Efforts to investigate New York retailers that unlawfully profile minority shoppers may pare back the problem, but experts are doubtful prosecutors can strike at its heart unless lawmakers revise a statute that gives the industry a free hand to profit by demanding money from alleged thieves.
Lawyers who represent aggrieved shoppers and other experts were watching as New York Attorney General Eric T. Schneiderman entered into an agreement that will see Barneys New York Inc. revamp its loss-prevention policies, hire an anti-profiling consultant, and collect and share data.
Components of the deal with Barneys — especially the retailer's promise to collect data detailing loss-prevention incidents, police interventions, the goods allegedly stolen and information about alleged thieves — are impressive, according to Wigdor LLP founding partner Douglas H. Wigdor.
"These are steps in the right direction," said Wigdor, who filed shop-and-frisk class actions against Macy's and the New York City Police Department that recently were confidentially settled.
According to the attorney general's agreement with Barneys, the retailer kept poor data on such incidents in the past. But the data the retailer did have showed that Latinos and African-Americans were overwhelmingly targeted by its loss-prevention teams.
The aggregation of better data could prove to be a powerful weapon over the long-term, according to Rutgers Business School professor Jerome Williams, who has studied retail discrimination. "It's very important, moving forward, for companies to measure discrimination and monitor to make sure violations are not continuing to occur,” Williams said.
The country needs a large number of centres of higher learning which are world-class,” said Arun Jaitley, the Finance Minister while presenting the Union Budget in Parliament this year. Budget allocation for higher education saw a rise of 13 per cent. The twinning programme — a programme of study whereby students in an Indian college may complete their study partly in India and partly in foreign educational institutions — can be seen as an attempt in bringing the best of two worlds together, a way of getting world-class education at a price lesser than that of a conventional foreign degree.
In an attempt to regulate such twinning programmes and prevent private institutions from exploiting students, the University Grants Commission (UGC) enacted the Promotion and Maintenance of Standards of Academic Collaboration between Indian and Foreign Educational Institutions Regulations, 2012 on September 21, 2013. The guidelines apply to non-technical, private Indian colleges offering twinning programmes, already in collaboration prior to these regulations, or those intending to collaborate with foreign colleges/universities.
Recently the Directorate of Technical Education (DTE), Maharashtra initiated an inquiry against HR College of Commerce, Mumbai, for allegedly starting admissions to an MBA twinning programme launched this year with Rutgers Business School, Newark, US, without the UGC approval.
In an email correspondence with edex before the DTE order of inquiry, Shahani, who is also a Member, UGC, said, “The HR College and Rutgers Business School collaboration is completely in compliance with The Promotion and Maintenance of Academic Collaboration between Indian and Foreign Educational Regulations of September 2013.”
Rutgers is accredited with the highest grade in their homeland by the Middle States Commission on Higher Education and is ranked among the top 500 world class universities by Times Higher Education World University Rankings and the Academic Ranking of World Universities (ARWU) of Shanghai Jiao Tong University, China, another widely observed rankings system. Rutgers Business School is ranked among the top 25 EMBA programmes by the Wall Street Journal and ranked in top 25 programmes among US programmes in 2008 -13. The 20-month programme has Rutgers faculty fly into Mumbai, while the last two modules of the total of 18 are completed in Newark, New Jersey, US.
Asked if her students have to worry about their degrees not being recognised by Indian universities, Shahani said, “This is a full-fledged MBA degree from a leading American University and is widely accepted and recognised by all universities across the world.”
On the surface, balancing tight budgets with a steady stream of new demands for technology services sounds like an untenable challenge for higher ed IT managers.
Still, many tech leaders at colleges and universities across the country have found the answer: They're living lean, and liking it. Case in point: Rutgers Business School, which has seen undergraduate enrollment skyrocket by more than 40 percent over the past four years. Today, nearly 8,000 students are enrolled at the school's campuses, in New Brunswick and Newark, N.J.
Despite the rapid growth, the IT department has maintained its staff of eight, who deliver IT services and support two new, state-of-the-art facilities with 70 technology-enabled rooms and more than 1,400 computers that came online in recent years.
What's their secret? The team capitalizes on the expertise of professional IT services firms and takes advantage of cloud-based Infrastructure as a Service (IaaS) solutions.
"I would love to have a giant IT staff, but we can do a lot with a small group if we manage things right," says Kevin Dowlin, assistant provost for technology and learning spaces at Rutgers University-Newark.
Chrishan Wright, who has worked in government relations and marketing since 1996, was able to turn her first unemployment experience into media content on downsizing for MSNBC and a blog featured on CNN.
Four years and a divorce later, Wright’s company was again downsized — but instead of clawing her way back into the workforce, Wright continued her education by completing a mini-MBA in digital marketing at Rutgers University’s Center for Management Development in 2013 (now Rutgers Business School Executive Education).
Wright knew the mini-MBA would help her put her best self forward as a mother and an entrepreneur while launching her new startup Propel Media Group, a full-service boutique digital marketing and public relations firm, in March.
What she didn’t know is how she’d also connect with fellow graduate Jessica Federman, owner of Mindshuffle Marketing, via Twitter.
Together, Wright and Federman came up with the idea to create an interactive podcast community for women entrepreneurs attempting to juggle businesses and families.
Wright submitted their concept, Women Entrepreneur Biz (WE Biz), into the third annual “Start Something Challenge,” a statewide pitch competition and business-strengthening session organized by the nonprofit Rising Tide Capital.
Results of a new study released today show that the major automakers – in fact, most manufacturing companies – could significantly improve their profits simply by improving their supplier relations.
The new study titled OEM Profitability and Supplier Relations by John W. Henke, Jr., Ph.D., president and CEO of Planning Perspectives, Inc., Birmingham, MI, and Professor of Marketing at Oakland University, Rochester, MI and his co-researcher, Professor Sengun Yeniyurt at Rutgers Business School, New Brunswick, NJ, is based in part on data gathered over the past 13 years from Henke's annual Working Relations Index® Study, and breaks new ground in supplier relations and business performance analysis.
It establishes the fact that the economic value of the suppliers' non-price benefits can greatly exceed the economic benefit realized from suppliers' price concessions. On average, this can be up to 4-5 times greater, and often much more.
In the aftermath of the financial crisis, there have been relatively few individuals held responsible for the roles they played, or the bad mortgages they issued and bundled together to pass along to investors. However, a former employee of the mortgage lender Countrywide Financial was fined Wednesday as part of a civil fraud case.
Countrywide’s former CEO and CFO were also fined coming out of the financial crisis.
However, most individuals who have been targeted are typically lower-level employees who worked directly on the bad deals, says Michael Santoro, a professor in the Department of Management & Global Business at Rutgers Business School.
“It’s a little more difficult to present evidence against people who have set policies in motion or who might turned the other way or who may have winked at something,” he says.
"This Mini-MBA includes ethics and values, corporate social responsibility, compliance, crisis communication, and how to create and sustain an ethical culture. Participants will gain knowledge and experience in ethical leadership and critical decision-making skills,” said IEL Executive Director Judy Young.
Since Merck’s companywide restructuring last fall that included laying off thousands of workers, closing locations and sharpening its focus on research and development, Chief Executive Kenneth Frazier has maintained the sweeping changes would require time to pay off.
“In the longer term, we see some good things coming up from the research wing through alliances, through small acquisitions,” said Rutgers Business School professor Mahmud Hassan, who follows the pharmaceutical industry. “These will help put off all of Merck’s uncertainties, I hope.”
Merck’s recent strategy shift and drug rollout plans, Hassan said, have renewed his optimism in the company.
“They reorganized, took some bold steps and I think those are now starting to pay off.”
A new study concludes that Moody’s gave significantly higher ratings on bonds and derivatives issued by companies in the investment portfolios of its two largest shareholders, including Warren Buffett’s Berkshire Hathaway, and took longer to downgrade them than its rival Standard & Poor’s.
The study joins a large body of literature probing the effects of ownership on supposedly objective business decisions, including how managers cater to activist investors who buy large stakes in their companies.
In the study to be presented at the American Accounting Association meeting next week in Atlanta, Shivaram Rajgopal of Emory University’s Goizueta Business School, and coauthors Simi Kedia and Xing Zhou of Rutgers Business School examined Moody’s ratings over the 10 years after it went public on the New York Stock Exchange in 2000.
Rajgopal said: “there’s a lot of statistical smoke.”
As academia attempts to create the accountant of the future, some programs are marching to the beat of their own drum.
Alexander Sannella, the director of the MBA in Professional Accounting Program at Rutgers Business School, said the school has found a liberal arts background can make for the ideal accounting student. “It’s about those broader thinking skills,” Sannella said. “And definitely you find that the decision-making and communication skills are strong from that population.”
Roger Smeets of Rutgers Business School looked at R&D spending by small firms, comparing firms that were hit by extensive lawsuits to a carefully chosen comparable sample. The comparison sample allowed him to isolate the effect of patent lawsuits from other factors that might also influence R&D spending. Prior to the lawsuit, firms devoted 20% of their operating expenditures to R&D; during the years after the lawsuit, after controlling for other factors, they reduced that spending by 3% to 5% of operating expenditures, representing about a 19% reduction in relative R&D spending.
Professor Jerome Williams of Rutgers Business School discussed the ways the commercial marketplace caters to different racial groups—already a pervasive problem resulting in certain groups suffering disadvantages, often in subtle or obscure ways.
In one case Williams researched, one particular racial group represented only five percent of the total customers that entered the store but accounted for 95 percent of the customers stopped for suspicion of shoplifting. "What that suggests," Williams said, "is the security cameras only focus on that one group."
This could have amplified implications given the potential uses of facial-recognition technology, Williams said.
For many, a shopping trip is a simple experience. It certainly isn’t one where you expect to be followed and supervised by store employees who think you’re going to steal something.
In some cases, people not only acknowledge that this stereotyping exists but attempt to justify it as well. Racial profiling is often defended by claims that black shoppers are more likely to shoplift, but according to Jerome Williams, a business professor at Rutgers Business School, the facts don’t agree – in fact, according to statistics, white women in their 40s engage in more shoplifting than any other group.
"The reason they don't show up in crime statistics is because people aren't watching them," said Williams. He went on to say that statistics that say black customers steal more “are not really an indication of who's shoplifting. It's a reflection of who's getting caught. That's a reflection of who's getting watched. It becomes a self-fulfilling prophecy.”
"I'm very honored and excited to be the first real estate chair at Rutgers," Morris Davis said. "This is an opportunity to build a top real estate program in the middle of some of the top real estate in the world."
The faculty chair was created last year with a $1.5 million commitment from Paul V. Profeta who owns a national real estate investment, management and leasing business that bears his name. Profeta's contribution was matched by an anonymous donor who pledged a total of $27 million to Rutgers University as part of an Endowed Chair Challenge in 2011. The challenge, issued during the "Our Rutgers, Our Future Campaign” was intended to add 18 world class faculty members across the university.
"Professor Davis's appointment advances the stature of Rutgers Business School and will contribute significantly to strengthening the connections between our students and the business community of New Jersey and the metropolitan region," said Glenn Shafer, dean of Rutgers Business School. "We are very grateful to Paul Profeta and our anonymous donor for making this initiative possible."
The endowed chair also was the catalyst for the formation of the Center for Real Estate Studies (or CRES as it is known familiarly) at Rutgers Business School. Ronald Shapiro, a veteran real estate and banking executive, has served as the center's director since last summer.
Shapiro described the appointment of Morris Davis as "a major game changer" as Rutgers Business School continues "to advance and promote real estate as an integral part of its future academic curriculum, executive educational programs, and industry conferences."
Working with Shapiro, Davis will develop an undergraduate and MBA real estate program, forge connections with the industry and work to establish the Rutgers brand for real estate study. "That doesn't happen overnight," Davis said, "but with case competitions, through deep connections with the industry and by creating a pipeline to employment."
Professor Ivan Brick, who led the search for a professor to fill the Profeta Chair, said the committee believed he was the "perfect candidate" because of his research impact in the field and his administrative experience as the director of the real estate center in Wisconsin.