Media Coverage

Tuesday, November 19, 2013

Remarks By James Abruzzo, Institute for Ethical Leadership Co-founder, on Ethics and the Arts at closing symposium of Art, Poetry and the 2007 Subprime Crisis, an art exhibit by Jan Lourie displayed in Rutgers Business School.

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Newark, NJ
Tuesday, November 19, 2013

"A decade ago, only the most intrepid of travelers embraced the city and everything it had to offer," recalls RADIUS publisher Paul Profeta. "Now, people all over the region are taking ownership of Newark as 'their city.' I cannot begin to express how pleased I am to see how attitudes have turned around. RADIUS will only accelerate that process."

Profeta is a longtime business leader in Newark, and a member of the Rutgers Business School's Board of Advisers. He is also the founder of the Profeta Urban Investment Foundation, which partnered with Rutgers Business School to launch or expand minority-owned businesses in Newark. Over the past few years, Profeta has both supported and spearheaded innovative business development initiatives in the city, creating powerful connections that led to the genesis of RADIUS.

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New York, NY
Tuesday, November 12, 2013

"I can only say: I'm sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed's first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.

"Even when acknowledging QE's shortcomings, Chairman Bernanke argues that some action by the Fed is better than none (a position that his likely successor, Fed Vice Chairwoman Janet Yellen, also embraces). The implication is that the Fed is dutifully compensating for the rest of Washington's dysfunction. But the Fed is at the center of that dysfunction. Case in point: It has allowed QE to become Wall Street's new "too big to fail" policy."

Mr. Huszar, a senior fellow at Rutgers Business School, is a former Morgan Stanley managing director. In 2009-10, he managed the Federal Reserve's $1.25 trillion agency mortgage-backed security purchase program.

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Newark, NJ
Monday, November 11, 2013

The competition will require the student teams to work on a marketing problem created by Rutgers faculty members. At least seven teams will spend a week reviewing an original case and then present their work to a panel of judges from the sponsoring companies.

Teams representing Carnegie Mellon, Boston University, Notre Dame, Penn State, Columbia and the University of Pennsylvania's Wharton School of Business are signed up to participate. Rutgers Business School will have a team of four students competing in the event.

As the case competition is occurring, Rutgers Business School will host Pharma Student Day, a day-long event featuring a series of speakers from the pharmaceutical and biotechnology industries. Pharma Student Day, which will be held from 11 a.m. to 4 p.m., is open to all students, alumni as well as industry professionals.

Both events highlight the strength of the Pharmaceutical Management Program and Rutgers Business School's close ties to the industry.

Rutgers Business School's nine-year-old Blanche and Irwin Lerner Center for the Study of Pharmaceutical Management Issues has strengthened the school's ties to some of the world's leading drug and device companies through symposiums, joint research and education programs designed to develop the next generation of leaders in the industry.

Mahmud Hassan, director of the Blanche and Irwin Lerner Center for the Study of Pharmaceutical Management Issues, said one of the biggest attractions for students at the case competitions is the potential to network.

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INFORMS News
Catonsville, MD
Tuesday, October 29, 2013

The New Jersey Chapter of INFORMS named Laurens Smit of the Rutgers University Business School the winner of its 5th Annual Student Contest for his work on “Far-Reaching Successive Lumping Solutions for Stochastic Models.” This work is part of his Ph.D. research done under the supervision of professors Michael Katehakis of Rutgers and Flora Spieksma of the University of Leiden, the Netherlands. The New Jersey Chapter helped offset Laurens’ expenses so he could present his work at the INFORMS Annual Meeting in Minneapolis in October.

INFORMS Newsletter, RBS News Story



ABC News
AP National Writer
Tuesday, October 29, 2013

The usual scenario involves suspicious glances, inattentive clerks or rude service - not handcuffs.

Yet when a black teen said he was wrongly jailed after buying a $350 belt at a Manhattan luxury store, it struck a nerve in African-Americans accustomed to finding that their money is not necessarily as good as everyone else's. Shopping while black, they say, can be a humiliating experience.

Many people justify racial profiling by saying that black customers are more likely to steal. But one study has shown that white women in their 40s engaged in more shoplifting than other demographic groups, said Jerome Williams, a professor in the Department of Management and Global Business at Rutgers Business School.

"The reason they don't show up in crime statistics is because people aren't watching them," said Williams.

Statistics showing that black customers steal more "are not really an indication of who's shoplifting," Williams said.  "It's a reflection of who's getting caught. That's a reflection of who's getting watched. It becomes a self-fulfilling prophecy."

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ABC 7
Montvale, NJ
Sunday, October 27, 2013

The PhD Project, an award-winning program to increase diversity in management, announced the 2013 inductees into its PhD Project Hall of Fame. They are: Dr. David L. Ford, Jr., Professor of Organizational Studies, University of Texas at Dallas; Dr. dt ogilvie, Dean and Professor of Business Strategy at the Saunders College of Business at the Rochester Institute of Technology; Dr. Miriam Stamps, Chair of Marketing Department at University of South Florida (Emeritus).

Dr. ogilvie, Dean and Professor of Business Strategy at the Saunders College of Business at the Rochester Institute of Technology, has continually mentored, taught, recruited and collaborated with current and former members of The PhD Project since 1994. As a business professor, she has served as a beacon and role model for excellence in teaching, rigorous research and broad-based service that is a spur to action for many. She was formerly a Professor of Business Strategy & Urban Entrepreneurship at Rutgers Business School - Newark and New Brunswick. She was Founding Director of The Center for Urban Entrepreneurship & Economic Development (CUEED) and Founding Director of the Scholarship Training and Enrichment Program (STEP), which helps underprepared incoming freshmen succeed at Rutgers Business School.

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The Star Ledger
Piscataway, NJ
Saturday, October 26, 2013

The Rutgers Business School's new $85 million building in Piscataway has become a gateway to the university's sometimes overlooked Livingston Campus.

Yesterday (10/26/2013) the business school held a ceremony with university dignitaries to officially open the building. Its design, which features two 6-story towers connected by a glass walkway, gives it a distinctly corporate feel.

This building "shows Rutgers' commitment to providing first-rate business education for students from New Jersey and around the world," said Rutgers Business School dean Glenn Shafer earlier this year.

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New York, NY
Friday, October 25, 2013

A year after Superstorm Sandy sent more than six feet of ocean water into their ice cream store and destroyed everything inside, Brian and Michelle McMullin are still waiting to hear if they'll get grant money from New Jersey to help pay rebuilding costs.

But 60 miles away, in New York City, a $250,000 grant from a utility helped Madelaine Chocolate start its recovery after more than four feet of water flooded the factory and left mud, rust and mold covering walls, floors and more than 100 pieces of equipment.

Small business owners who applied for grants after the Oct. 29, 2012, storm are more likely to have gotten money by now from private sources like corporations, charities and chambers of commerce rather than the government. The problem: States must, by law, follow certain steps to give grants. But a lack of planning and negative attitudes about businesses also stand in the way of getting money quickly to companies that need it, according to people who study disaster recovery.

There's also resistance to giving small company grants because of the belief that business owners are well off, says Jeffrey Robinson, an assistant professor of entrepreneurship at Rutgers University in New Jersey.

"They think, 'they're making money, why should we give it to them?'" Robinson says. "But you don't know how much you rely on the local supermarket or the corner Dunkin' Donuts until it's gone."

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Money News
Newark, NJ
Friday, October 25, 2013

There were times during Gregory Weaver’s career at Deloitte & Touche when a mentor’s advice convinced him to take an opportunity he did not immediately recognize on his own.

“I think developing relationships both internally and externally is very important,” Weaver said in an interview leading up to his visit to Rutgers Business School. “Taking advantage of opportunities is very important. Often, you don’t recognize what that opportunity really is. I know my inclination was to generally say no to things that actually had the biggest impact on my career.”

“Being open with those people who can help you with what you want to do is important,” he said. “Too often, I don’t think people are comfortable telling people what they want to do from a career standpoint.”

The CEO Lecture Series was established to provide students with access to leading CEOs, many of whom are also Rutgers alum, and the real-life insights they can share about the business world. In the past, the event has featured Sheri McCoy, a former Johnson & Johnson executive who is now leading Avon, Anne Whitaker, who leads the North America pharmaceutical business for Sanofi-Aventis and most recently, Keith Banks, president of U.S. Trust, Bank of America Private Wealth Management.

“I decided to go to the Rutgers program,” Weaver said. “It was absolutely terrific because for the first time since I started any kind of post-secondary education, I was actually focused on something that would support getting a job.”

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Northjersey.com
Woodland Park, NJ
Friday, October 18, 2013

Two groups of Rutgers Business School students have learned both the excitement and potential pitfalls of entrepreneurship while designing products they believe could find a niche in their respective markets.

The ideas, Zurge+, a touch-screen kiosk that would dispense a small portable cellphone charger for a fee, and CampusBord, a mobile app that condenses news and information on college-related events and activities into one place, will be promoted by Rutgers Business School as part of its FundSPARC initiative.

Through that initiative, supported by the business school's Center for Urban Entrepreneurship and Economic Development, the groups paired up with business professor Brett Gilbert, Department of Management and Global Business who mentored them through "crowdfunding" campaigns.

Gilbert, who teaches classes on innovation and creativity in entrepreneurship, said after she recognized the potential of the two ideas, crowdfunding through the website RocketHub.com seemed like a way to get the ideas off the ground.

"I thought the CampusBord concept was something anyone who lives or works on a college campus could relate to – if you've ever seen a bulletin board on campus, you know they can get messy really quickly," Gilbert said. "As for Zurge+, we've all been out and about and suddenly we see that our phone is out of battery. Their idea would allow you to simply walk up to a kiosk and keep going.”

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PR Web
Secaucus, NJ
Friday, October 18, 2013

Short Stories from the Stock Market uses case studies to illustrate the short selling framework in practice. It draws upon examples from past research by Artham Capital Partners as well as research contributed by Off Wall Street, a short-focused independent research firm, based in Cambridge, MA, with a strong track record that spans two decades. The book illustrates how successful short investment theses are not based on the premise of high valuations, but rather on the problems with a company’s business model and its accounting practices. While buying low and selling high usually works for long ideas, short selling expensive stocks based on high valuation alone usually does not work as well.

Marc Faber, author and publisher of The Gloom Bloom Doom Report, famous for his contrarian approach to investing, said of the book, "Mr. Kumar’s book is an excellent introduction into the controversial strategy of selling short stocks of companies whose fundamentals are likely to deteriorate."

“Amit’s book took me into the mind of a short seller", said Guy Spier, CEO of Aquamarine Capital.

Amit Kumar started Artham Capital Partners LLC, an independent research firm, in 2009, after working as a buy-side analyst at Swiss Re. He is also an adjunct professor of Finance at Rutgers Business School and NJIT School of Management.

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PRNewswire
Piscataway, N.J.
Wednesday, October 16, 2013

Rutgers Business School will formally dedicate its new building on the Livingston Campus on Friday, Oct. 25, following the investiture of Professor Vikram Nanda as the inaugural Albert R. Gamper Jr. Chair in Business.

"Our new building at 100 Rockafeller Road provides, for the first time in decades, the facilities to meet the demand for business education at Rutgers in New Brunswick," Rutgers Business School Dean Glenn Shafer said. "The building will help us attract the most committed and qualified students at all levels and to retain and attract outstanding faculty and staff to work with them."

As Albert R. Gamper Jr. Chair in Business, Professor Vikram Nanda will focus his research on financial institutions, teach corporate finance, and guide PhD students and junior faculty members.

Nanda said he was honored to be chosen as the first recipient of the Gamper Chair. "The finance and economics department at Rutgers has some significant strengths," Nanda said. "My objective is to help the department build on these strengths and to enhance its reputation as a strong research and teaching group."

Albert Gamper, who retired as chairman and CEO of CIT Group in 2004, will be among the guests attending the investiture ceremony. CIT Group and Gamper, who currently sits on the Rutgers Board of Trustees, announced the establishment of the $2 million chair in 2004. In 1999, Gamper was inducted into the Rutgers Hall of Distinguished Alumni.

 

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Amsterdam, Netherlands
Thursday, October 10, 2013

The recently established ‘Dutch Association of Cultural Trustees’ (NVTC) held a discussion on ‘Cultural Entrepreneurship in the US and the Netherlands’. The exclusive event was hosted in Amsterdam by Camunico and founder Ron Soonieus, the driving forces behind the NVTC. Speaking to leaders of Dutch cultural institutions, James Abruzzo of DHR International shared his experiences of working with top US cultural organisations.

Sharing success is key, says Abruzzo.

In the economic downturn the Dutch government has implemented austere spending cuts across the culture sector. Some institutions have closed and some have merged to be able to maintain a viable ‘critical mass’.

Yet other institutions are doing their best to find a new balance between profitability and funding from government, sponsorship and donations. This means looking beyond meagre traditional sources to seek out new funding, and learning from the entrepreneurial activity seen in some American institutions.
Dutch organisations must create an emotional connection with funders and visitors, shift the responsibility for the existence of the organisation from government to individuals, and value a ‘customer service attitude’.

During the event participants also discussed how they cope with difficulties within their organisation, in particular the composition of supervisory boards and cooperation with the executive teams. According to a study done by Camunico it appears that executive and non-executive directors who have developed a strong sense of empathy, based on mutual understanding and respect, are more capable of responding to changes successfully. Therefore, says Abruzzo, cultural organisations need ‘real leaders’, people who know how to lead the fight for the existence of their institution.

If you would like to know more about the insights of the discussion, the NVTC, or the research done by Camunico, please contact us.
Catherine van Nierop Catherine.vannierop@camunico.com 0031 6 41117180



Newark, NJ
Wednesday, October 9, 2013

For Mr. Booker, a vegetarian and foodie who began courting the chain soon after his inauguration in 2006, the store helps fulfill a promise to bring more fresh food to the city.

"You have to convince the retailers that there is a market here," said Jeffrey Robinson, an assistant professor in the Department of Management and Global Business at Rutgers Business School-Newark, who said the city is working on attracting residents downtown.

Neighboring Halsey Street has filled with bars and restaurants frequented by office workers and college students. A $444 million Prudential corporate tower is being erected across the street, and the adjacent Military Park is undergoing a $3 million renovation by the developer who rehabilitated New York's Bryant Park.

Whole Foods could bring further change. The chain's move into an emerging neighborhood tends to cause other stores to follow and property values to rise, said Jerry Johnson of the land-use consultants Johnson Reid.

A specialty grocer locating in a neighborhood tends to boost property values by an average of 18%, according to a 2007 report by Johnson Reid.

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Sydney, Australia
Wednesday, October 9, 2013

Held for the first time in Sydney, Australia the conference centered around the theme of Bridging the Gap between Policy and Practice. The conference brought together scholars to present, argue, and discuss pertinent interpretational issues, different approaches to promoting academic integrity, and its dynamics with learning and teaching.

“Academic integrity has always been important in higher education, but now more so than before because of the competing demands on students’ time, and the role of the internet, which has made it harder for students to resist temptation,” says conference organizer Abhaya Nayak.

Highlights included keynote presentations from Professor Donald McCabe, Department of Management and Global Business, Rutgers Business School, regarded as a founding father of research in this field.

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New York, NY
Tuesday, October 8, 2013

Jerome Williams, Department of Management and Global Business participated on a May 3, 2013 roundtable panel in New York City on Children and Food Advertising.  The discussion was published in the current issue of Advertising and Society Review and available on Project Muse.

“If you go back to the 70s and the early 80s, there were some efforts to get the Federal Trade Commission to regulate advertising to children. And that didn’t really get traction. There was opposition in Congress and some other things that didn’t allow that to happen. Years went by when nothing was really done. So then when we did the Institute of Medicine report, which came out in 2005/2006, that again started to shine the spotlight on marketing and advertising being directed at children. So both from the industry standpoint and the public health viewpoint, everyone started paying more attention to it. I really think that’s what triggered almost everything else that’s come since then. In my opinion, that was really the watershed moment.”

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Marlboro, NJ
Friday, October 4, 2013

The latest example of the fine line between business and bias is occurring in Marlboro, NJ, where one of the town's newest merchants, Hobby Lobby, found itself embroiled in a public clash over religious expression and its place in commerce.

The Oklahoma City-based behemoth of bric-a-brac carries just about everything, from burlap lamp shades to mustache stamp sets, but Marlboro residents learned late last week that the retailer, founded by devout Christian David Green, does not sell anything related to the Jewish faith.

"To not offer what your customer wants is problematic from a purely business perspective," said Ann Buchholtz, professor of leadership and ethics at Rutgers Business School.

Basic market research would show customer demand in the Marlboro area for Jewish-themed items, but Buchholtz said it wouldn't be surprising to learn that a company did not cover that basic step of learning the demographic of a new store location.

At Temple Rodeph Torah, Rabbi Donald A. Weber is stressing to congregants to recognize the distinction between discrimination and business practice, he said, because "freedom is messy."

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NJ.com
Newark, NJ
Wednesday, October 2, 2013

In a statement about its global cost-cutting plan, Merck, the second-largest U.S. drugmaker said the cuts were part of an effort to sharpen “commercial and R&D (research and development) focus and reduce costs,” including the size of its workforce and global real estate footprint.

In a conference call, Merck Chief Executive Ken Frazier said the company will place more emphasis on developing drugs with the most sales potential, which means getting the business side to work more closely with researchers, he said. But Rutgers Business School professor Mahmud Hassan wondered what took so long. “Merck’s been limping along for the last several years, relying on one drug, Januvia,” he said. Sales of that blockbuster diabetes medication are now being threatened as several new competitors are in the final stages of development or scheduled to debut their own versions in the next two years.

Hassan added that Merck’s decision to lay off thousands of workers was a short-term fix, and that trying to sell off properties will be a difficult proposition in the current economy.

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Newark, NJ
Tuesday, October 1, 2013

/PRNewswire-USNewswire/ -- After a competitive application process, a group of emerging leaders from 15 Greater Newark nonprofit organizations have been selected to participate in the second cohort of the Victoria Foundation Emerging Leaders Program (PDF) at the Institute for Ethical Leadership at Rutgers Business School. Over a twelve-month period, the group will meet once a month from September through August to take part in this unique and ground-breaking comprehensive approach to developing both personal and professional leadership skills and competencies.

"There are many critical nonprofit organizations in Newark. This program offers top-notch leadership training to the emerging leaders in our community," said Irene Cooper-Basch, executive officer of Victoria Foundation. "Not only will this education and experience enhance their professional growth, but it will build a network of skilled nonprofit professionals who can work together to strengthen their organizations and the communities they serve as well as solve authentic problems plagued by our city."

"This transformative curriculum-based training and leadership development program is expressly designed to help nonprofit emerging leaders achieve their full leadership potential. Emerging leaders are the future builders of this sector. They will fill the growing gap at the top and with Victoria Foundation's support and this program, these individuals will be better prepared to do so," said Alex J. Plinio, co-founder, Rutgers Institute for Ethical Leadership.

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NJ.com
Newark, NJ
Sunday, September 29, 2013

Under the new health care law about to take effect, all coverage plans will be required to offer a comprehensive set of essential health benefits to consumers — including drug plans. Yet the cost of those prescription benefits still remains a troubling unknown, especially for those who depend on expensive medications.

“The theory is that more people will be taking the drugs that are appropriate to them, which should lower overall health care costs,” said Michael Santoro, professor of management and global business at Rutgers Business School.

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New York, NY
Friday, September 27, 2013

Behavioral finance has established that even the strongest and most dedicated of investors are prone to panic when markets get rough. As such, one of the greatest challenges financial advisors face is trying to keep their clients engaged in markets at all times.

That’s why advisors need to have at the ready a number of airtight investment strategies designed to keep their clients engaged while providing them with the peace of mind they need to actually stay engaged, according to John Longo, CIO at Acertus Capital Management and a finance professor at Rutgers in New Jersey.

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New Brunswick, NJ
Friday, September 27, 2013

Almost three years since Eric LeGrand was carted off the field at MetLife Stadium, five fraternities have banned together to create “PHI-ESTA,” a weeklong series of social events to raise money for Team LeGrand.

The mission of Team LeGrand and the Christopher and Dana Reeves Foundation is to help individuals living with spinal cord injuries and their families. They strive to support quality-of-life initiatives and emerging therapies, said Janelle LoBello, the communications coordinator for the Christopher and Dana Reeve Foundation.

Phi Delta Theta, Sigma Phi Epsilon, Phi Kappa Psi, Phi Kappa Tau and Phi Kappa Sigma began the planning process for PHI-ESTA in June, said Nick Mahtani, a Rutgers Business School junior and philanthropy chair of Phi Delta Theta.

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Newark, NJ
Tuesday, September 24, 2013

Senior executives from 14 New Jersey nonprofit organizations have been selected to participate in the second cohort of The Prudential Foundation Nonprofit Executive Fellows Program at the Institute for Ethical Leadership at Rutgers Business School.  Over a two-year period, this  group of executives meets once a month from September through June to take part in this comprehensive approach to developing both personal and professional leadership skills and competencies.

"We're delighted to continue our collaboration with Rutgers Institute for Ethical Leadership.  Together, we are helping to prepare the next generation of  executive leaders and making sure they have the business management skills and information they need to guide  nonprofit organizations  in the future," said Lata Reddy, vice president, Corporate Social Responsibility at Prudential and president of The Prudential Foundation. 

Alex J. Plinio, co-founder of Rutgers Institute for Ethical Leadership, said, "We are pleased to continue this long-term program with the generous support of The Prudential Foundation to help nonprofit executives achieve their full leadership potential and better serve their organizations and the community."

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New York, NY
Tuesday, September 24, 2013

Five years after Lehman Bros. imploded, business schools have modified curricula to educate students on how to try to keep the financial crisis from happening again. Faculty are hoping that future auditors will help protect society from market meltdowns like the one in 2008 by protecting against abuse.

"We all want to make sure that it doesn't happen again," said Dan Palmon, chair of the accounting department at Rutgers Business School in New Jersey.

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New York, NY
Thursday, September 19, 2013

It may be tough to get broad consensus among academics to agree on almost anything, especially about what lessons to draw from a complicated global crisis.

"We all want to make sure that it doesn't happen again," said Dan Palmon, chair of the accounting department at Rutgers Business School in New Jersey.

Also adding to the challenge to teach the crisis' lessons is the youth of today's students. The financiers of tomorrow may have been in high school when Lehman collapsed.

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WMDT 47
Newark, NJ
Thursday, September 19, 2013

Kevin Chan was hoping to find a class at Rutgers Business School that would allow him to tap into his burgeoning entrepreneurial spirit. When he received a notice last semester about the Experiential Learning Program promising hands-on experience working with small companies, he signed up immediately.  "It makes them bring to bear everything they've learned," said Daniel Stubbs, a clinical assistant professor of accounting and information systems.

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New Brunswick, N.J.
Thursday, September 19, 2013

Campuses nationwide are cluttered with bulletin boards, but some think it is time to make outdated technology a thing of the past.

Three Rutgers Business School students are creating a website, CampusBord, to update students on campus happenings. They are currently relying on crowd funding to get the project off the ground.

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Astoria, NY
Wednesday, September 18, 2013

Broadcast Music, Inc. (BMI), a global leader in music rights management, today announced that the Board of Directors has unanimously elected Michael O'Neill as Chief Executive Officer effective September 16, 2013. O'Neill will also become a member of the Board. O'Neill succeeds BMI's current President and CEO Del Bryant who announced his desire to step down earlier this year after almost 42 years of continuous service to the company. O'Neill will assume the title of President upon Bryant's retirement in June 2014.

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Tampa, FL
Monday, September 16, 2013

"I don't think there's any question that students have become more competitive, under more pressure and, as a result, tend to excuse more from themselves and other students, and that's abetted by the adults around them," Donald L. McCabe, a professor at Rutgers Business School who researches cheating, told the New York Times.

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