Groupon’s board of directors fired the company’s CEO yesterday. Andrew Mason founded the daily deal site. This is, in many ways, a familiar story. An ideas man builds up a business, takes it public, and then…
“Some kind of infrastructure is needed,” says James Abruzzo, co-founder of the Institute for Ethical Leadership at Rutgers Business School. “And clearly that was the case here."
From The Wall Street Journal:
Trading in dark pools and other off-exchange venues has been rising in recent years. About 14% of all stock trades in the U.S. now take place on dark pools, up from 3% in 2007, according to Tabb Group, which tracks electronic trading. Total trading away from exchanges hit a record of 37% of all trading volume in January, according to NYSE Euronext NYX -0.65%.
A rise in off-exchange trading could hurt investors, some said. A 2010 study by Rutgers Business School professor Daniel Weaver found that a NYSE-listed stock with 40% of its volume trading in the dark costs investors about $4 million per stock a year.
The reason: With more investors trading in the dark, fewer buy and sell orders are being placed on exchanges. That can translate into worse prices for stocks, because prices for stocks are set on exchanges.
Exchanges have been scrambling to turn the tide. One tactic in recent years has been to cater to high-frequency firms in order to capture the rivers of buy and sell orders they provide. With more orders on the exchanges' books, investors might get better prices and find it easier to trade, they hoped.
Read full article.
The Civil Rights movement of the 1960s seemed to mark a historical turning point in advancing the American dream of equal opportunity for all citizens, regardless of race. Yet 50 years on, racial inequality remains a troubling fact of life in American society and its causes are highly contested. In The American Non-Dilemma, sociologist Nancy DiTomaso convincingly argues that America's enduring racial divide is sustained more by whites' preferential treatment of members of their own social networks than by overt racial discrimination. Drawing on research from sociology, political science, history, and psychology, as well as her own interviews with a cross-section of non-Hispanic whites, DiTomaso provides a comprehensive examination of the persistence of racial inequality in the post-Civil Rights era and how it plays out in today's economic and political context.
Taking Gunnar Myrdal's classic work on America's racial divide, The American Dilemma, as her departure point, DiTomaso focuses on "the white side of the race line." To do so, she interviewed a sample of working, middle, and upper-class whites about their life histories, political views, and general outlook on racial inequality in America. While the vast majority of whites profess strong support for civil rights and equal opportunity regardless of race, they continue to pursue their own group-based advantage, especially in the labor market where whites tend to favor other whites in securing jobs protected from market competition. This "opportunity hoarding" leads to substantially improved life outcomes for whites due to their greater access to social resources from family, schools, churches, and other institutions with which they are engaged.
DiTomaso also examines how whites understand the persistence of racial inequality in a society where whites are, on average, the advantaged racial group. Most whites see themselves as part of the solution rather than part of the problem with regard to racial inequality. Yet they continue to harbor strong reservations about public policies—such as affirmative action—intended to ameliorate racial inequality. In effect, they accept the principles of civil rights but not the implementation of policies that would bring about greater racial equality. DiTomaso shows that the political engagement of different groups of whites is affected by their views of how civil rights policies impact their ability to provide advantages to family and friends. This tension between civil and labor rights is evident in Republicans' use of anti-civil rights platforms to attract white voters, and in the efforts of Democrats to bridge race and class issues, or civil and labor rights broadly defined. As a result, DiTomaso finds that whites are, at best, uncertain allies in the fight for racial equality.
Weaving together research on both race and class, along with the life experiences of DiTomaso's interview subjects, The American Non-Dilemma provides a compelling exploration of how racial inequality is reproduced in today's society, how people come to terms with the issue in their day-to-day experiences, and what these trends may signify in the contemporary political landscape.
NANCY DiTOMASO is professor of organization management at Rutgers University.
From the “Big Apple” to the “Brick City”: after a 20-minutes train ride from New York Penn Station, Newark welcomed us with sunshine and spring-like warmth. Even warmer, we were welcomed at the NJPAC by Dana Bochna and Joanne Hsu from the Center for Ethical Leadership at Rutgers Business School who kindly had set up this trip for us, and Joan (the incarnation of civil society), a NJPAC volunteer who had already given tours when NJPAC was still under construction. During the tour around the performing arts center, we learned about its history, its program and above all what the NJPAC meant and still means to the city of Newark that suffered from social upheavals and urban demolition since the riots in 1967.
The Bloomberg article took stock of Rutgers Business School in particular, which just established a $3 million endowed chair for real estate in anticipation of creating a full-on real estate concentration next year. In an era where many graduate schools are trimming down their programs, and prospective MBA applicants are questioning the market value of a degree, this is no small gesture.
The North Carolina Museum of Natural Sciences announced its new director Monday morning after a six-month search of more than 200 candidates.
Emlyn Koster is a geologist, educated in England and Canada, who has been at the helm of several premier museums in the United States and Canada, leading landmark expansions of their facilities, exhibitions, programming and outreach.
"Emlyn brings to this role the precise mix of leadership qualities we need," said Mike Murphy, president of the Friends of the N.C. Museum of Natural Sciences and chair of the search committee. "He is an engaging advocate for the museum to the public and a collaborative manager who can unite the staff, stakeholders and supporters in order to guide this world-class museum in expanding its reach and taking its mission to new heights."
BEDMINSTER — The school district's website was changed early Friday morning to edit a letter from Superintendent Carolyn R. Koos that, until then, appeared to be plagiarized from another school system.
According to Standard Five of the New Jersey Standards for Teachers and School Leaders, "School administrators shall be educational leaders who promote the success of all students by acting with integrity, fairness and in an ethical manner."
"Plagiarizing is not acting with integrity, and it certainly isn't ethical," Ann Buchholtz, a professor of Leadership and Ethics and director of the Institute for Ethical Leadership at the Rutgers Business School, told NJ.com last week.
In this issue of NRBP, Rutgers Institute for Ethical Leadership is featured for honoring Newark Museum Director, Mary Sue Sweeney Price.
A two-day international conference on ‘Global Strategies for an Emergent India’ has begun on the Indian Institute of Management Kozhikode (IIMK) campus at Kunnamangalam here on Thursday. Radhakrishna Pillai, Dean, Academic Administration of IIMK, inaugurated the event.
As many as 38 papers selected from over 100 entries received from academics and doctoral students from India and abroad on the subject are being presented during the conference, which is being organised by the IIMK in association with the University of Sydney Business School.
Scholars from top business schools, including Farok J. Contractor, Professor, Department of Management and Global Business, Rutgers Business School, Rutgers; Sumit K. Kundu, Professor, Department of Management and International Business, College of Business Administration, Florida International University; Rajaram Veliyath, Professor, Department of Management and Entrepreneurship, Coles College of Business, Kennesaw State University; Sougata Ray, Professor of Strategic Management and Dean (Programme Initiatives), Indian Institute of Management Calcutta; Somnath Lahiri, Assistant Professor, Illinois State University, and Raveendra Chittoor, Assistant Professor, Indian School of Business, would be chairing different sessions, the press release said.
School cheating has been a particular concern, as it’s reported at all levels and among students, teachers and administrators. Those involved include such institutions as the Air Force Academy (where cadets were accused of cheating on an online test in April) and Harvard University.
Donald McCabe, a professor of management at Rutgers University-Newark, says the Internet has created new opportunities to blur ethical bounds. “People have redefined what constitutes cheating in line with the technologies available now,” says McCabe, co-author of Cheating in College, published in September.
NEW YORK-Known as “charm prices,” prices ending in 9, 99 or 95 make items appear cheaper than they really are. Since people read from left to right, they are more likely to register the first number and make an immediate conclusion as to whether the price is reasonable.
When professor Robert Schindler of the Rutgers Business School studied prices at a women’s clothing store, he found the one-cent difference between prices ending in .99 and .00 had “a considerable effect on sales,” with prices ending with .99 far outselling those ending with .00.
TRENTON - State business leaders are facing a stark and chilling reality: Hundreds of companies remain perilously close to losing their battle against Hurricane Sandy’s devastation.
This is a critical point in officials’ efforts to resuscitate ailing businesses in the Garden State. They have to rapidly turn the rounded numbers and estimates from the early days of the hurricane’s aftermath into hard figures that will help them cut a clear path to recovery.
Jeffrey Robinson, assistant professor at Rutgers Business School in Newark, has studied data collected from companies after other U.S. disasters.
In academic terms, Robinson said, New Jersey’s survey would need to generate at least 4,000 responses before it could claim represent a signficant cross-section of the estimated 40,000 businesses impacted by the storm.
"The only way to get that is by going door to door, getting people to go out and collect this information," he said. "Anyone can go online to fill out that form right now, for better or for worse."
Stores, restaurants, factories and offices across the Northeast were damaged or destroyed by the Oct. 29 storm. So far, almost all the recovery money that's being offered to small businesses by government agencies is in the form of loans, but taking on debt is one of the last things owners want to do as they try to recover from the storm in an already challenging economy.
Making small business depend on loans is a mistake, says Jeffrey Robinson, a professor of entrepreneurship at Rutgers University in New Jersey. "A loan is not going to be good for a business that's already deeply in debt," Robinson says.
Graduate students looking to go global now have one more option thanks to SMU’s newly announced master’s degree in international arts management.
In conjunction with HEC Montreal and the Bocconi University Graduate School of Management, SMU has announced an international advisory committee with the two institutions to launch the 12-month program that will have its students spending one four-month session at each of the three partnering schools.
The advisory committee is a who’s who among the arts world and includes names such James Abruzzo of DHR International, Maxwell L. Anderson, the director of the Dallas Museum of Art as well as many more notable advisors.
DALLAS (SMU) — HEC Montréal, Bocconi University Graduate School of Management and SMU announce the appointment of an international advisory committee in conjunction with the launch of their new 12-month International Arts Management Master of Management degree (M.M.). To begin in fall 2013, the new M.M. degree will be the first to focus on issues unique to international arts management and to approach arts management from a global perspective. The program will include one four-month session at each of the three partner institutions and will prepare students to manage and lead international arts and cultural organizations.
“The international advisory committee members will provide input on program content and help make key strategic decisions,” said Zannie Voss, chair of the Division of Arts Management and Arts Entrepreneurship at the SMU Meadows School of the Arts. “They will also provide connections to the field for our students and serve as worldwide ambassadors for the program.”
The committee members are James Abruzzo, executive vice president, DHR International, New York; Maxwell L. Anderson, director, Dallas Museum of Art; Victoria Bailey, executive director, Theatre Development Fund, New York; Jean-Paul Cluzel, president of the Réunion des musées nationaux et du Grand Palais, Paris; Sergio Escobar, director, Piccolo Teatro, Milan; Piers Handling, CEO, Toronto International Film Festival; Peter Herrndorf, CEO, Canada’s National Arts Center, Ottawa; Sylvain Lafrance, former executive vice president, Radio-Canada, Montréal; Daniel Lamarre, CEO, Cirque du Soleil, Montréal; Glenn D. Lowry, director, The Museum of Modern Art, New York; Zarin Mehta, former president, New York Philharmonic; Charlotte Nors, executive director, Singapore Repertory Theatre; Mikhail Piotrovsky, director, the State Hermitage Museum, St. Petersburg, Russia; Anamarta de Pizarro, director, Iberoamerican Theatre Festival of Bogota (FITB), Colombia; David Resnicow, president, Resnicow Schroeder Associates, New York; Xiaohong Sun, former vice chairwoman, China Arts and Entertainment Group, Beijing; and Gorgun Taner, general director, Istanbul Foundation for Culture and Arts, Istanbul, Turkey.
Though the country is “predominantly a service economy,” Professor Farok J. Contractor of Rutgers Business School writes, “The nation is still the world’s biggest manufacturer,” he adds, with “unrivaled productivity in terms of manufacturing value-added per employee or per hour worked.”
Teams from 11 business schools, including Georgetown and Columbia, have signed up to compete in the school's first biopharmaceutical case competition.
The day-long competition will be held Nov. 10 at Rutgers Business School's $83 million facility in Newark, NJ.
The teams will be competing for cash prizes as well as the recognition of some of the industry's leading companies.
"It brings another layer of national exposure to the school,'' says Chris Parker, a Rutgers MBA student who competed at Kellogg School of Management earlier this year. As co-president of the pharmaceutical club, Parker helped to organize the competition being hosted by Rutgers.
Parker says Rutgers will follow what has become "the gold standard'' for pharmaceutical case competitions: Each team will have a week to prepare after receiving a case study that reflects a current, real-life marketing or operational issue faced by the industry.
Recent data from the International Center for Academic Integrity at Clemens University shows between a quarter to a third of students at the collegiate level admit to cheating on tests. A study conducted by Rutgers University School of Business professor Donald McCabe, who has investigated the topic for 22 years and surveyed over 250,000 college students, shows two-thirds of students report some type of academic dishonesty – from not citing material used in a paper to cheating on a test.
Building on the momentum created by several recent lateral hires, Cooley LLP announced today that leading Intellectual Property lawyers Walter Hanchuk and John Kheit have joined the firm as partners in its New York office. Walter and John were partners at Chadbourne & Parke LLP in New York, where Hanchuk was chair of Chadbourne's IP practice and Kheit led the firm's Mobile Technology practice. Hanchuk joins Cooley's national IP group as chair of the firm's New York IP practice and will be driving the strategic growth of the firm's IP practice in New York.
John Kheit focuses his practice on representing a variety of technology-focused companies in complex litigation, patent and licensing matters. Particularly active in the computer software sector, Kheit has a deep understanding of microprocessors, electronic commerce, payment systems, communication, wireless, and network technologies. He has also been involved in the patenting of pure software technologies, including financial instruments, data-structures, graphical user interfaces, digital rights management, and peer-to-peer networking.
Prior to practicing law, Kheit worked in high-technology, corporate and academic arenas, including positions with NeXT Computer, Inc., Time Warner, Harvard University, Franklin Pierce Law Center and the University of Toledo Law School. He received his JD from New York Law School; his BA and MBA from Rutgers, The State University of New Jersey; and his LLM from Franklin Pierce Law Center.
RSR Partners, a leading executive recruiting firm specializing in senior level board and executive searches, announced today the appointment of Harold J. Spitzfaden as Managing Director and the firm’s new Chief Administrative Officer. As a seasoned corporate tax executive, Mr. Spitzfaden will offer a wealth of management, financial, and legal expertise to help fuel the company’s activities.
Mr. Spitzfaden joins RSR Partners from Swiss-based pharmaceutical concern Novartis Corporation, where he served as Vice President of Tax Reporting and Compliance. Previously, he served as the Head of the Global Tax Department for Russell Reynolds Associates, Inc. A Certified Public Accountant, he earned his BA, BS, and JD from Seton Hall University, his MBA from Rutgers University, and his LLM from New York University. Mr. Spitzfaden also served as a U.S. Army captain.
Rutgers Business School will host a conference next month examining some of the lingering effects of the 2008 financial crisis, including the controversial regulations intended to prevent risky banking practices blamed for causing it.
The conference, "Risk Management in a Fast-Changing Regulatory Environment" promises to deliver a provocative debate on the implications of regulations such as Dodd-Frank to the possibility of even stricter provisions being put into place through an updated version of Glass-Steagall.
Charles Morris, an economist with the Federal Reserve Bank of Kansas City, who has helped to shape some of the new rules intended to limit risk, will be among the plenary session speakers on hand to discuss the implications of Dodd-Frank and the Volcker Rule.
Own It Ventures, a woman-owned, NJ based organization has collaborated with Rutgers University-Center for Urban Entrepreneurship & Economic Development and investors from TechLaunch and Delaware Crossing for a "Get Your Business Pitch Ready for Prime Time" Entrepreneur Roadshow on October 26, 2012 at Rutgers Business School in Newark, NJ. The day is set to educate women entrepreneurs on the important elements of successful business pitches to Angel Investors, the Media and Retailers.
"We have found that most entrepreneurs do not fully understand the process and mechanics of pitching their companies and/or products to investors, the media and retailers. The issue for women is compounded with the fact that if we do not feel confident or knowledgeable, we typically will not attempt to pitch," states Melissa Cloeter, President of Own It Ventures.
The agenda for the Entrepreneur Roadshow is to alleviate the angst and improve the areas where women lag; specifically access to capital, revenue growth, and access to influential business networks. According to the Survey of Business Owners Census in 2007, women own approximately one third of small businesses and employ 7.6 million people, yet only 4% of women owned firms secure bank loans to finance growth and less than 2% receive funds from VCs, family and friends.
"What the public saw was someone who was not at all contrived, but a basic, decent person," said Michael Santoro, a professor at Rutgers Business School who teaches an ethics course includes an examination of the handling of the Tylenol crisis.
"Ethics wasn't a pie-in-the-sky notion to Jim Burke," Santoro said. He noted that Burke appeared genuinely distraught by the Tylenol killings, which have never been solved, and would speak of the victims by name and extend his sympathies to their families.
After authorities determined that the pills were poisoned after they had been distributed to retail stores, Johnson & Johnson introduced new tamper-resistant packaging to make it harder to break into packages undetected. But, in 1986, when a woman in New York state was killed from a cyanide-laced Tylenol capsule, Burke announced that the company could no longer assure the safety of its capsule product, which led to way to the creation of tamper-proof gel caps and caplets.
Ann K. Buchholtz, professor of leadership and ethics and research director at the Institute for Ethical Leadership at Rutgers Business School, said, “anytime that people interact with other people, like the workplace or a managerial setting, problems are going to arise, and, unfortunately, sexual harassment has not gone away.”
The bottom line is people should treat other people with respect, according to Buchholtz, who has co-authored a textbook that discusses sexual harassment.
“Unfortunately, they need to be told how one does that.
“It’s something about which we need to stay vigilant and aware,” she said.
“We can’t stop caring about this issue because it’s so important.”
The New York & New Jersey Minority Supplier Development Council (The Council) and InnoCentive, Inc. will salute the four innovative multicultural business winners of the 2012 Sustainability Summit Innovation Challenge – Driving Sustainability & Diversity on October 9 at The Council’s 2012 Sustainability Summit: Be Eco Smart at Sentry Center, 810 Seventh Avenue in New York City.
There was great interest in the Innovation Challenge, which sought out unique products or services that could aid a sustainable supply chain, bring benefits to urban and rural communities and promote job creation. The competition was open to Minority-Owned Business Enterprises (MBEs) and diverse organizations nationwide, which aspired to highlight their innovation, build capacity, and develop supplier relationships with large publically traded corporations and public sector agencies. In addition to the recognition, each of the four winners will receive a monetary prize of $2,500.
The judges for the 2012 Sustainability Summit Innovation Challenge – Driving Sustainability & Diversity were: Kevin E. Brooks, CEO & president at THiNKGREEN! Global Advisors, Inc.; Leisha John, Americas director, environmental sustainability at Ernst & Young; Dr. Kevin Lyons, supply chain and environmental management and policy at Rutgers University; Jonathan Powers, Obama Administration’s federal environmental executive; Emily Reyna, senior project manager at Environmental Defense Fund Climate Corps; Mark Szollar, managing director, diversity & recruitment advertising at New York Times; Apple White, vice president at BNY Mellon; K.O. Ansa B. Yiadom, director of strategic initiatives global procurement & operations at Pfizer, Inc.; Majora Carter, 2011 Peabody award recipient/public radio host, environmental justice advocate and economic consultant; and Don Carli, senior research fellow at Institute for Sustainable Communication. The competition sponsors were: AIG, BNY Mellon and Con Edison.
Because of economy, more turn to startups because of job security.
It's a nice premise: Buy stuff to help those in need. Companies using this model are profiting off people wanting to "do good." Is there anything wrong with that?
If Harvard does go the honor code route, it could help create a culture where students and professors are more trusting of one another and cheating is less likely to occur.
Honor codes vary in form and are relatively rare, with probably fewer than 100 around, said Donald L. McCabe, a professor of management and global business at Rutgers University who has conducted research and surveys on student cheating for more than two decades. Honor codes generally include at least one of four components: a pledge students sign to affirm they won’t or didn’t cheat on an assignment; a non-toleration clause in which students promise to turn in students they see cheating (these are rare); a judiciary board controlled evenly or mostly by students; and unproctored exams.
McCabe’s surveys have indicated honor codes do reduce rates of cheating, but by how much varies. In three surveys of about 30 small- to medium-sized liberal arts colleges, slightly concentrated in the East, fewer students at colleges with honor codes than those without reported copying exam answers from one another. 13, 19 and 8 percent reported cheating at “code schools,” compared to 31, 32 and 14 percent at “no-code schools.” The surveys are from the 1990-1, 1995-6 and 2005-6 academic years.
“I’m a great believer in honor codes, and if I were [Harvard] I would look at how I might be able to implement an honor code,” McCabe said, adding that faculty and administrators who resist honor codes – as seems to have been the case at Harvard – tend to do so because it means surrendering control to students via a student judicial board or unproctored testing.
People sit on the campus of Harvard University in Cambridge, Mass. Dozens of Harvard University students are being investigated for cheating after school officials discovered evidence they may have wrongly shared answers or plagiarized on a final exam. Very few colleges or universities have honor codes, which some credit for lowering the rate of cheating on campus.