Stern in the News: Prof Yermack Breaks Down P&G Acquisition
Issue date: 2/8/05 Section: News
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Stern in the News
January 2005
NYU Stern's media coverage in January featured School programs, professors' research, School programs, and comments on global current events and issues, including President Bush's effort to privative social security, New York's minimum wage hike, Gillette's proposed merger with Proctor & Gamble, and recent trading and corporate accounting scandals. NYU's Stern Consulting Corp and TRIUM global executive MBA program were featured in the Financial Times and The Independent, respectively. Professors Michael Moses and Jianping Mei appeared on CBS News' "Sunday Morning" to discuss their Mei/Moses Fine Art Index, and Professor David Yermack was quoted in the Associated Press about the criticism surrounding Taser's stock sales and use of corporate airplanes. In addition, Professor Mark Sirower's research on corporate mergers was included in an article in the Financial Times, and Professor Joshua Ronen was interviewed on CNN Lou Dobbs Tonight and on Bloomberg TV about the cases surrounding the accounting scandals of Tyco and WorldCom. Several professors were also asked to comment for various news outlets on the Proctor & Gamble bid to acquire Gillette. Continue reading for more news highlights from January 2005. For a comprehensive look at NYU Stern's media coverage, visit the News and Information site, http://www.stern.nyu.edu/News/
The Wall Street Journal: "No Razor Here: Gillette Chief to Get a Giant Payday"
January 31, 2005
Professor David Yermack was quoted and his study on executive compensation and mergers was included in an article about Proctor & Gamble's bid to acquire Gillette. The article reveals that Gillette's chairman and chief executive officer, James Kilts, could make $153 million on the merger, a deal he initiated. Critics of the merger say Kilts' personal gains have motivated it, which spotlights recent issues surrounding executive compensation and corporate consolidations. Professor Yermack commented, "You have to wonder if the deal might have been even more favorable had [chief executives] been working for shareholders instead of just for themselves."
January 2005
NYU Stern's media coverage in January featured School programs, professors' research, School programs, and comments on global current events and issues, including President Bush's effort to privative social security, New York's minimum wage hike, Gillette's proposed merger with Proctor & Gamble, and recent trading and corporate accounting scandals. NYU's Stern Consulting Corp and TRIUM global executive MBA program were featured in the Financial Times and The Independent, respectively. Professors Michael Moses and Jianping Mei appeared on CBS News' "Sunday Morning" to discuss their Mei/Moses Fine Art Index, and Professor David Yermack was quoted in the Associated Press about the criticism surrounding Taser's stock sales and use of corporate airplanes. In addition, Professor Mark Sirower's research on corporate mergers was included in an article in the Financial Times, and Professor Joshua Ronen was interviewed on CNN Lou Dobbs Tonight and on Bloomberg TV about the cases surrounding the accounting scandals of Tyco and WorldCom. Several professors were also asked to comment for various news outlets on the Proctor & Gamble bid to acquire Gillette. Continue reading for more news highlights from January 2005. For a comprehensive look at NYU Stern's media coverage, visit the News and Information site, http://www.stern.nyu.edu/News/
The Wall Street Journal: "No Razor Here: Gillette Chief to Get a Giant Payday"
January 31, 2005
Professor David Yermack was quoted and his study on executive compensation and mergers was included in an article about Proctor & Gamble's bid to acquire Gillette. The article reveals that Gillette's chairman and chief executive officer, James Kilts, could make $153 million on the merger, a deal he initiated. Critics of the merger say Kilts' personal gains have motivated it, which spotlights recent issues surrounding executive compensation and corporate consolidations. Professor Yermack commented, "You have to wonder if the deal might have been even more favorable had [chief executives] been working for shareholders instead of just for themselves."