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This year, we challenged our incoming MBA students to consider the great problems facing the world and to raise their ambitions about their potential for impact. In turn, we promised to deliver an educational experience that empowers them through an environment we describe as An Education in Possible. Simply put, this phrase symbolizes our relentless pursuit of unparalleled excellence. As Olympic athletes begin to convene in London from all over the world, I am struck by what wonderful examples they are of the uncompromising pursuit of achievement. Shortly we will all witness individuals who push beyond perceived limits – on a world stage – redefining what is possible in their sport. In fact, sports are a valuable framework for teaching business – and life – lessons: teamwork, leadership, decisiveness, and courage, to name a few. You may not realize that NYU Stern boasts a number of alumni who are leaders in the sports industry. In this issue, we interview 11, all in different arenas, each of whom followed a different path to the top. I think you’ll find it interesting reading (page 6). Our faculty are also drawing ideas and insights from sports. In this issue, we showcase Amitav Chakravarti’s investigation of the screening effect in Olympic venue selection, and Gavin Kilduff’s exploration of the roots of rivalry (page 22). Our back page features Larry Ritter, the author of what’s been called the best baseball book ever written. We know him as the father of the Stern finance department (page 40).
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As for mental gymnastics, your School is bringing home gold. Last fall, the School celebrated when Tom Sargent, the William R. Berkley Professor of Economics and Business, won the 2011 Nobel Prize in Economic Sciences. With this honor, Tom joins our two other Nobel laureates in economics, Robert Engle and Michael Spence. All three are active faculty members, making for one deep bench. Mike Spence is featured in this issue, starting on page 12, as he engages in a dialogue with The Economist’s Matthew Bishop about global trends and policies in employment. Cathy Minehan (MBA ’77) is yet another example of proving what’s possible, both in her own career and in the field of graduate business education. After nearly 40 years with the Federal Reserve System, she is launching a second career as dean of the sole women-only MBA program in the US, at Simmons College School of Management (page 5). In the “news you can use” department, take a look at Baruch Lev’s extensively researched top 10 tips for CFOs (page 18). In closing, I wish to thank each and every one of you for making a Stern education not only possible for others, but excellent at every level. Your continuing engagement, through mentoring, participation in our events, and financial contributions, are indispensable keys to our success. With all good wishes,
Peter Henry Dean