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.
The National Institutes of Health has awarded a nearly $1 million grant to the Dr. Susan Love Research Foundation to continue development of a technology aimed at addressing breast cancer, a serious issue for women's health, especially young women, in low- and middle-income countries.
Survival rates in developing countries are less than half that of the United States mainly for lack of resources for diagnosis and treatment.
Proven pattern recognition technology, novel algorithms for ultrasound image enhancement, and computer-aided detection and diagnosis will be combined with real-time information generated by the live ultrasound scans to determine the probability of malignancy.
The device development and clinical validations will be performed in close collaboration between breast cancer expert and surgeon Dr. Susan Love, and breast imaging radiologist and clinical trial expert Dr. Wendie Berg (University of Pittsburgh School of Medicine, Magee-Womens Hospital of UPMC), medical software product development and commercialization expert Christine Podilchuk, PhD (ClearView Diagnostics), and technology and commercialization expert Richard Mammone (ClearView Diagnostics/Rutgers, The State University of New Jersey).
Mammone, who is a professor of electrical and computer engineering and a professor in the Rutgers Business School, invented the scanner technology and founded ClearView Diagnostics.
Davis, a real estate and urban land economics professor at Wisconsin School of Business, will hold the Paul V. Profeta Chair in Real Estate as part of Rutgers’ plan to establish a teaching and research platform in what is one New Jersey’s most important industries. An investiture ceremony is scheduled for Sept. 23 in Newark, according to a story on Rutgers’ media relations website.
The school’s Newark campus announced last year that it would launch an MBA concentration in real estate, thanks to a new $3 million endowment to establish a chair in the field. The position is named after Paul V. Profeta, president and owner of West Orange-based Paul V. Profeta and Associates Inc., who donated $1.5 million to the post.
“I’m very honored and excited to be the first real estate chair at Rutgers,” Davis told Rutgers media relations department. "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 Garden State Woman Education Foundation will host a Business and Leadership Academy in Florham Park from Aug. 11 through 15 to educate and inform high school girls about the importance of including business courses in their planning for college and a career.
Judy Chapman, co-founder of Garden State Woman Education Foundation and leader of the Academy also has invited college students studying business and/or economics from Harvard, the University of Pennsylvania, Tulane, Rutgers and more to assist in helping the high school students navigate college applications and choose courses.
“Rutgers was looking to attract more girls into their business program, and we were looking to inform and educate them to the fact that everything is business,” Chapman said.
Attendees of SEO for PR Update: Boost Buzz, Brand and Web Traffic with New Search Engine Marketing Tips will learn how to create the SEO-rich content, how to find the best keywords, how to use social sites to boost rankings, and how the Big Three search engines are tweaking their algorithms to reward press releases, online newsroom content and social media that is properly optimized.
Peter Methot, Managing Director, Executive Education, Rutgers Business School
Shiva Narayan, Manager, Search & Analytics, Enterprise Digital Team Transamerica
Greg Jarboe, President and Co-founder, SEO-PR
Mark Munroe, Director of SEO, Trulia
This PR University webinar takes place on Friday, July 18, at 1PM ET (noon CT; 11AM MT; 10AM PT).
Following in the footsteps of several management schools that have partnered with Indian institutes in the recent past to cater to MBA aspirants in the country, the Rutgers Business School (RBS), US, recently collaborated with HR College to deliver its Executive MBA program in Mumbai.
Farrokh Langdana, global director of the EMBA program, says, "With 50% of India's population under the age of 30, there are tremendous opportunities for niche education and skills training for young graduates. There is currently a huge demand for high-potential executives, trained to operate in different cultures, ready innovate and operate in various sectors from finance and marketing to economics and business analytics. Thus, we decided to bring the program to India."
The Federal Reserve is set to end its economic stimulus program [quantitative easing] in October, bringing to an end the controversial five-year-old scheme even as officials said there were signs that the US economy was still in trouble.
Controversial from the outset, QE was designed to keep long-term interest rates down and encourage investors to back stocks or corporate debt in order to stimulate the economy. Stock markets have hit record highs under QE yet the unemployment rate remains high and there are continuing signs of weakness in the wider economy.
Last year, Andrew Huszar, a senior fellow at Rutgers Business School and a former manager of the Fed’s mortgage-backed security purchase programme, called for an end to QE in an article for the Wall Street Journal. He said it had helped Wall Street far more than Main Street. Critics in Congress and elsewhere have also worried that QE will create another financial bubble or excessive inflation.
Is it ethical for a venture capital investor to praise a product put out by a company he’s invested in without disclosing his financial interest?
James D. Robinson IV, a founder of RRE Ventures in New York City, which is currently investing from a $280 million fund raised this year, did just that. RRE is an investor in Quirky Inc., Palantir Technologies Inc. and OnDeck Capital Inc.
Ann Buchholtz, research director for the Institute for Ethical Leadership at Rutgers University says that, “as a private citizen, he certainly has a right to express his opinion. But,” she added, “he also has a responsibility to let people know any fact that would be appropriate for them to consider.”
July 4, 1776. The day the United States celebrates sending England’s King George III a legal brief: The Declaration of Independence.
It is a document that to this day inspires freedom-seeking men and women the world over, and instills panic in the hearts of authoritarian regimes.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness,” begins the second paragraph of the document that formally notified George III he no longer had control over the 13 colonies.
“There are so many countries that aren’t even close to 1776 yet,” noted Bob Stern, a co-author of the law that created California’s Fair Political Practices Commission, or FPPC, which enforces state campaign finance laws.
“We need to celebrate our success.”
But while celebrating, said Ann Buchholtz, research director of the Rutgers University Business School’s Institute for Ethical Leadership, “we have to be willing, as a great nation, to still look at ourselves and see where we can make improvements.”
At the corner of Rutgers University’s Livingston Campus—the institution’s youngest of five campuses in or near New Brunswick, New Jersey—rests a passive solar gem: the Rutgers Business School building at 100 Rockafeller Road in Piscataway. With splayed columns playfully propping up the upper curtainwalled corridor and a bottom corner that is seemingly split open, the structure greets students as an embodiment of the Livingston Campus’s vision: to be a model of sustainable and responsible community development and to serve as the gateway to the remaining Piscataway facilities.
In a way, the design of the building’s three vertical sections—classrooms to the west, offices in the middle, and lounges to the east—signifies its program, moving from opacity to transparency. Nothing was conceived haphazardly; wide corridors and accessible spaces were designed to foster chance meetings, and even the stairs and restrooms were located close to areas where sidebar conversations might occur. By daylighting these “collaboration spaces” and ensuring that they all have views across the campus, Norten made them all the more attractive and accessible.
The new Rutgers Business School in Piscataway, New Jersey, is more than a collection of classrooms and offices. The building, designed by TEN Arquitectos, is a linchpin of the university’s Livingston campus, reconceived as an urban center for graduate studies and continuing education.
“It established a frame,” said project manager James Carse, whose firm created a vision plan for the campus starting in the late 2000s. “We were interested in really marking the edge of campus to motivate future development to respect the campus boundary, rather than allowing or suggesting that this was a pervasive sprawl. We wanted to make sure this would set a pattern where infill would happen.”
The Rutgers Business School’s tripartite envelope reinforces the distinction between outside and inside. While the sides of the building facing the boundary line are enclosed in folded anodized aluminum panels, the glass curtain walls opposite create a visual dialogue with the rest of campus.
Rutgers Business School officials say they've taken the first major step toward launching the real estate academic platform at the university's new Center for Real Estate Studies. The school has selected its new faculty chair in real estate — spurred by a $1.5 million donation by West Orange-based developer Paul Profeta — and plans to unveil its pick in the coming months.
That will mean someone focused on creating an MBA concentration in real estate at the state's largest university, one modeled after the elite out-of-state programs that now lure away many of New Jersey's best and brightest.
“That Profeta chair is here to get Rutgers to be the NYU and Wharton in New Jersey, for real estate,” said Ronald Shapiro, the center's executive director. “They want to have not only excellence in teaching, they want this to be a major research facility for real estate.”
iFunding (http://www.ifunding.co), America's real estate crowdfunding platform, today announced that its CEO, William Skelley, will speak as part of a panel discussion at the Second Annual New York Summer Apartment Summit, to be held at the Scholastic Building, 997 Broadway, in New York City on June 26.
For the panel discussion, entitled "Debt, Equity & Alternative Capital Sources: Analysis of the Myriad of Financing Strategies and Key Differences Between Traditional Banks and Emerging Solutions," Mr. Skelley will explain how crowdfunding is providing an important new source of finance for operators of multi-family residences and apartment towers.
The moderator of the panel discussion is Ronald M. Shapiro, director of the Center for Real Estate Studies, Rutgers Business School. Besides Mr. Skelley, other speakers on the panel include Ray Adkins, Multifamily Account Management, Fannie Mae; John Gambardella, Regional Manager of Chase Commercial Term Lending, Chase; Michael A. Gardner, Managing Director, CCRE; and Justin Levitt, Loan Officer, Prudential Mortgage Capital Company.
CaseWare Analytics announced today that it has donated $250,000 of technology and services to The Rutgers Accounting Research Center. The contribution will support the efforts of the Rutgers Continuous Auditing and Reporting Lab (CAR) to advance audit practices through the use of technology.
“Today, we lead the field in research in the areas of Continuous Auditing and Enhanced Business Reporting, and are constantly seeking solutions to take advantage of the Real-Time Economy,” said Miklos Vasarhelyi, director of Rutgers Accounting Research Center, Rutgers University. “The donation of CaseWare Analytics’ technology has been vital to our project’s development. In a world with rapidly growing data, our students will be prepared to view this environment as an opportunity to add tremendous value and insights.”
The Rutgers Accounting Web has been a leader of accounting and auditing research for the past two decades. The university is consistently ranked by the U.S. News and World Report as a top producer of Fortune 500 CEOs and job placements for MBA students.
Minority business accelerators have launched in a handful of metropolitan areas in recent years as local businesses, chambers of commerce and economic development groups work to create more jobs and improve the quality of life in their regions.
A key goal of the accelerators is to help minority owned-companies win contracts with large companies. Despite the rapid growth in the number of minority-owned businesses — over 45 percent between 2002 and 2007, according to the Census Bureau — they struggle to get business with major companies.
One reason for the disparity is that a small company may not have the infrastructure, such as computer systems, and the experience to operate on the level needed to fulfill a big contract, says Jeffrey Robinson, a professor of management and entrepreneurship at Rutgers University. He is working on the Newark accelerator.
"There's a leap you have to take from the five-person company to a couple hundred, to being a multimillion-dollar company. You can't run them the same way," Robinson says.
New Hope Borough Council President Claire Shaw would be well-advised to create some distance between herself and the borough’s review of the proposed four-story boutique conference center that investors want to build next to her property to avoid the appearance of a conflict of interest, say ethical experts.
Several colleges and universities with faculty specializing in political, philosophical, and organizational ethics were contacted to find out if they thought it’s a good idea for a public official to recuse themselves from consideration of project next door to their property to avoid the appearance of a conflict of interest.
James Abruzzo, co-director, Institute for Ethical Leadership at Rutgers Business School, said, “Public officials have a responsibility to every citizen to act in a disinterested manner. Inevitably, a governing body must decide on a situation that could benefit one of its members. In that case, there could be the appearance of a conflict of interest. I am not qualified to decide if something is illegal, but it could be construed as unethical. The best solution is for the person involved to declare his conflict; to provide input into the situation if asked; but to then remove himself from the voting process. This not only removes the conflict, it removes the perception of a conflict.”
Being socially responsible doesn't have to be on a grand scale, but in ensuring day-to-day processes are fair, safe and environmentally friendly, according to several speakers. Rutgers Professor Kevin Lyons, an expert in supply chain issues, said employee conditions is a topic that repeatedly comes up in his work. "Companies are in business to make money, but how are the people (workers) being treated," he asks. "Are they paid a living wage?"
Bruce Wrobel's body was found by a friend on Dec. 10, 2013, at about 1 a.m. in a Mercedes-Benz CLK550. Police called to the West 20th Street scene—a quiet, tree-lined stretch of townhouses in Manhattan's affluent Chelsea neighborhood—discovered suicide notes to family and friends. The New York City medical examiner concluded the 56-year-old poisoned himself inside the parked car with carbon monoxide by mixing sulfuric acid and other toxic chemicals.
Colleagues and friends were shocked and heartbroken. Why would Wrobel, a visionary businessman who succeeded through a forceful blend of hard work and passion, kill himself at the peak of his career?
And although Wrobel's accomplishments highlight the potential of enlightened capitalism to forge growth and better the lives of others, the issues that apparently contributed to his death show just how difficult it can be for even well-meaning people to navigate complex economic, social and political issues.
"What makes the whole thing sad is that in some ways he's emblematic of an emerging type of business person who understands that with power and wealth comes responsibility," said Michael Santoro, an expert on business ethics at Rutgers Business School. "He was a model of what we want business people to be like. But make no mistake about it—the kind of criticism [he was facing] is inevitable when we live in a world where we're expecting business to solve the problems that governments are supposed to."
A new study by the Center for Economic and Policy Research, which shows African-American college graduates are twice as likely to be unemployed than their white counterparts (PDF), is just another finding that speaks to the systemic unfairness of hiring practices, according to Nancy DiTomaso.
DiTomaso is vice dean for faculty and research at Rutgers Business School-Newark and New Brunswick and the author of, “The American Non-Dilemma: Racial Inequality Without Racism.” DiTomaso said that disparities between blacks and whites in terms of employment have been studied for decades: “The findings in this report are not necessarily new, but obviously they’re troubling,” she said.
“One of the reasons I feel this is the case has to do with the way whites help each other in terms of the job search,” she said. “Whites are disproportionately in positions where they have more authority, more decision-making ability – particularly in regard to who gets hired (and) who gets opportunities. Then if blacks are not in those same networks … they are less likely to get access to those jobs.”
The 6th Annual National Association of Women Business Owners - Central Jersey (NAWBO-CJ) Chapter Business Plan Competition, Supporting Emerging Entrepreneurs’ Development (SEED) was hosted on the Rutgers University New Brunswick - Douglas campus on Tuesday, May 20, 2014. The evening’s competition included the final five contestants with the best business plans who were selected from 38 New Jersey women entrepreneurs by a panel of notable judges.
Chris Pflaum, speaking on behalf of Rutgers' New Ventures & Entrepreneurship Group, expressed excitement about partnering with NAWBO-CJ on the S.E.E.D. event and recognizing women entrepreneurs in New Jersey.
Keynote speaker Jasmine Cordero, Managing Director of The Center for Urban Entrepreneurship & Economic Development at Rutgers Business School, offered attendees insight on business building when the entrepreneur is faced with draining challenges.
In the Huffington Post's TED Weekends, Professor Michael Santoro shares his impressions of Liu Bolin's technique in his art and social commentary about contemporary China and a TEDTalk that coincided with the 25th anniversary of Tiananman Square.
While automated investing startups have recently attracted plenty of venture capital (Wealthfront also raised a $35 million round in April, bringing total funding to $65.5 million), some experts express doubt that passive, automated investing platforms will be able to retain Millennials over the long term.
“To manage your money, you have to have a minimum level of expertise,” said Ravi Jagannathan, a co-director of the Financial Institutions and Markets Research Center at Northwestern University’s Kellogg School of Management. “[These platforms] are for really busy people who are trying to do things on their own.”
With that in mind, Jagannathan says more sophisticated investors may end up looking for asset-management services that are more hands-on.
“It’s hard to predict where they will go in the future,” he said.
And as Gen Y builds more wealth, it may need other services not currently provided by some of the startups in the field.
“There are some instances where having a human advisor makes sense. Like for high net-worth investors, their financial situation tends to be more complicated. Estate planning-type needs may not be dealt with effectively [by these startups],” said John Longo, clinical associate professor of finance and economics at Rutgers Business School.
Last month, Republicans in the U.S. Senate blocked legislation that would have used building codes to increase energy efficiency.
This theory ignores the reality of business in the post-Friedman era. On sustainability, in all its forms, the most successful businesses recognized their responsibility as corporate citizens and began acting on them decades ago.
Companies share a responsibility to all citizens, not just their employees and shareholders. The citizens and local governments allow the corporation to exist and thrive. They run the fire departments, teach the children of workers, and dry-clean clothing. The government provides all basic services necessary for the company to exist, including maintaining the roads between the private airport and the local headquarters.
“Ethical” corporations realize this and act accordingly.
Clearview Diagnostics, Inc. announced today that they have received FDA approval to market their imaging software system, ClearViewHD. The ClearView Image Enhancement System uses proprietary patent-pending technology to significantly enhance the ultrasound images used for breast cancer diagnosis.
Ultrasound imaging is especially useful in women with dense breast tissue, found in up to 50% of the female population and especially prevalent in younger women, where traditional mammogram screening can fail to find the cancer.
Clearview is uniquely positioned to collaborate with world-renowned hospitals, cancer centers and research facilities, as well as attract some of the most talented engineers and scientists in the country.
Minority entrepreneurs who feel their road to success is more difficult than others may not be imagining things.
Sterling Bone, an assistant professor at the Jon M. Huntsman School of Business at Utah State University, said research he has completed shows that entrepreneurs who are minorities face more obstacles to success and deal with the rejection they sometimes experience differently than their Caucasian counterparts.
Bone's conclusions were recently published in the Journal of Consumer Research, a top academic publication. He collaborated on the paper with Glenn L. Christensen, Garrett Research Fellow, and associate professor of marketing at the Marriott School of Management at Brigham Young University, and Jerome D. Williams, the Prudential Chair in Business and research director of the Center of Urban Entrepreneurship & Economic Development at Rutgers Business School.
“Therefore, it is appropriate to continue asking the question: 'Is the glass half empty, or is the glass half-full?' in terms of progress being made in eradicating discrimination in the marketplace,” Williams said. “If marketers continue to remain insensitive to racial and ethnic minority consumers, they run the risk of alienating these segments and, as a result, suffering severe economic consequences.”
"If you are white and set out to get financing for an entrepreneurial venture, it might be a tough journey," said study co-author Glenn Christensen, an associate professor of marketing at Brigham Young University. "But, generally speaking, you would experience fewer obstacles and find more help along the way than if you came from an African-American or Hispanic background."
"While racial and ethnic minorities have made significant progress in terms of race relations over the past several decades, the harsh reality is that there still are remnants of discrimination in society," said co-author Jerome Williams, director of the Center of Urban Entrepreneurship and Economic Development at Rutgers Business School. "It is appropriate to continue asking the question, 'Is the glass half empty, or is the glass half full?' in terms of progress being made in eradicating discrimination in the marketplace."
Nearly five years after the Great Recession officially ended, the struggles and dampened expectations of young college graduates have become a fixture of American politics and even popular culture. But amid all the focus on the difficulties of college-educated millennials, one facet of this upheaval has remained largely unexplored: the continued significance of race.
As a new crop of college graduates joins the American workforce, unemployment rates among minorities with degrees remain distinctly elevated and their economic prospects disproportionately dimmed, a new report (PDF) released by the Center for Economic and Policy Research has found.
In 2013, the most recent period for which unemployment data are available by both race and educational attainment, 12.4 percent of black college graduates between the ages of 22 and 27 were unemployed. For all college graduates in the same age range, the unemployment rate stood at just 5.6 percent. The figures point to an ugly truth: Black college graduates are more than twice as likely to be unemployed.
"This study—its findings, as terrible as they are—honestly should not come as a shock to anyone who is willing to face the truth about employment and unemployment in the United States," said Nancy DiTomaso, a professor at Rutgers Business School who studies inequality and organizational diversity.