[3] Thomas J. Lueck, Jersey Realty Coup by Hartz, New York Times, August 8, 1987. He is the Director of THCG from 1999, Chairman of Given Imaging from 2012, Chairman of SodaStream International LTD from 2015 and few others. Nothing else lasts.[63]. While there was a lot of pressure on firms, particularly public companies, to focus more on core competencies and divest themselves of unrelated businesses, Stern swam against this tide, which is a reflection of his personality and the fact the Hartz empire was a family business and hence not subject to the pressure of outside investors. | The Economist", "Fortune Magazine Best MBA Programs in 2022", "Top 10 Business Schools for Getting a Top-Tier Job", "U.S. News Undergraduate Business School Rankings Finance", "U.S. News Undergraduate Business School Rankings International Business", "Poets&Quants for Undergrads - New York University Stern School of Business", "BNYU Admits its Most Diverse Freshman Class", "MBA Admissions Chats: Consortium, NYU Stern", "First woman to reach Earth's highest and lowest points", Center for Cosmology and Particle Physics, Center on the Administration of Criminal Law, Furman Center for Real Estate and Urban Policy, Journal of Intellectual Property and Entertainment Law, Journal of International Law and Politics, NYU Catherine B. 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Wagner Archives, List of New York University honorary degree recipients, List of presidents of New York University, Culture, Education, and Human Development, https://en.wikipedia.org/w/index.php?title=New_York_University_Stern_School_of_Business&oldid=1140922387, Educational institutions established in 1900, Short description is different from Wikidata, Articles with unsourced statements from April 2020, Articles with failed verification from August 2020, Articles with unsourced statements from February 2023, All articles with vague or ambiguous time, Vague or ambiguous time from October 2022, Articles needing cleanup from December 2022, Articles with sections that need to be turned into prose from December 2022, Creative Commons Attribution-ShareAlike License 3.0, #3 Graduate Finance Program in the U.S. by, #5-equal Best Undergraduate Business Program in the U.S. by, #6 in the U.S. and worldwide for Post-MBA Salary by, This page was last edited on 22 February 2023, at 12:51. Known as a master marketer, he expanded the Hartz Mountain business, named after the Harz Mountain area of Germany from which he came (he Americanized it by adding the t), into bird food and cages.[5]. Part of the gift was used to build a 200,000-square foot building to consolidate the business school activities, which had been scattered at different sites. In the starting, he was able to get shares from most of his siblings. Do you have a job opening that you would like to promote on SSRN? Prominent investment banker and Home Depot investor Kenneth Langone (MBA 1960) donated $10 million to Stern in 1999. He is the chairman and CEO of the privately owned Hartz Group based in New York City Many were able to rise to economic security within little more than a single generation. As head of Hartz Mountain, Leonard has had his share of business battles. I have my vision and I take my risks, Leonard told the Wall Street Journal. [53] Robert D. McFadden, Entrepreneur Plans to Donate About $25 Million to N.Y.U., New York Times, September 19,1988. The school offers Bachelor of Science in Business at the undergraduate level and Master of Business Administration degrees at the postgraduate level. EN. Back home, he wrote for Spy magazine, then worked as business manager for TheVillage Voice, which Leonard had purchased in 1985. Often characterized by his business and social acquaintances as a dapper, tough, cutthroat, arrogant workaholic, Stern has described himself as a self-made man determined to be the youngest of the rich and then the richest of the rich.[1] His drive helped him carry the sluggish Hartz Mountain pet company he inherited from his father to unimagined heights by the early 1980s. The thought that I might, at some time, have to at the very least correct their mistakes is very, very stressful. Celebrating its 100th birthday in the year 2000, Stern launched a $100 million centennial campaign, the school's most ambitious fundraising effort to date. They knewand taught their children and childrens childrenthat working for others was not the road to a strong, secure future. He is currently having a net worth of total $4.2 Billion. In 1969, consumers were spending three billion dollars a year on the purchase of food, habitation, care, and grooming for their dogs, cats, goldfish, turtles, monkeys, and other animals. He emigrated to the United States in 1926. In Future of Emerging Market Flows. REQUEST PROCESS. The School of Commerce, Accounts and Finance was renamed the College of Business and Public Administration in 1972. [28] Village Voice Sold to Investor Group, New York Daily News, January 5, 2000. It was his contention that the plea did not represent guilt on the companys part, but rather served as an admission that while some of its corporate executives had engaged in illegal conduct, Hartzs top executives were not touched by the scandal. Abstract Views. Leonard married Judith Falk, a psychologist, in 1962 and had three children: Emanuel Theodore (b. 1963), and Andrea Caroline (b. [26], In 1999, Stern put TheVillage Voice up for sale. In his late forties, Stern had a style that differed markedly from the reserved, buttoned-down senior executives of his generation. The school was renamed Leonard N. Stern School of Business. Like so many Jewish immigrants, the Sterns have long been committed to upward mobility. [5] The Hartz Group History (accessed July 19, 2012). She agreed with her fathers assessment, saying in the article that she is just as driven and ambitious as my brothers are. Never abandoning its core pet-related ventures, in 1994, the Hartz Group acquired Wardley, which was at that time the biggest manufactured line of aquatic foods and remedies, with upwards of two hundred formulations for the serious aquatic hobbyist market, as well as outdoor pond products that moved Hartz into that growing market. Marcel is the son of Ghity Lindenbaum and Max Stern. Edward married Stephanie Rein, a doctor, on June 6, 1991 (Edward J. Stern Wed to Ms. Rein, New York Times, June 7, 1991). When a naming opportunity for a new exhibit dedicated to the endangered snow leopards became available in 1996, Mr. Father Max Stern immigrated to the U.S. from Fulda, Germany, in 1926. His competitors complained that he engaged in monopolistic practicesoffering bribes and kickbacks to distributorsthat allowed Hartz Mountain to corner 70 percent of the pet supplies market. Established as the School of Commerce, Accounts and Finance, the school changed its name in 1988 in honor of Leonard N. Stern, an alumnus and benefactor of the school. [citation needed], Peter Blair Henry became dean of the school in January 2010. The Federal Trade Commission and several supply companies and distributors alleged that Hartz, despite a commanding market share in many pet supply categories, seemed determined to drive all competitors out of its markets. Stern also offers an Executive MBA program for experienced professionals and executives, a 22-month-long degree program which includes two global study tours as a part of the curriculum. The average age of executive MBA degree candidates is 27, and 45% of the students have at least one advanced degree in other areas. He looks after the family business and is the current CEO and Chairman of private family Hartz Group. [49][50] The Stern School announced it will join the growing list of programs now accepting the Graduate Record Examinations (GRE) from MBA candidates applying beginning in 2010. Disclaimer: Visitor traffic is tracked using Google Analytics, 2010 - 2022 German Historical Institute |, http://www.immigrantentrepreneurship.org/entries/leonard-n-stern/, Canary Capital Agrees to Pay $40 Million, Hartz: First Commercial Developer in Region to Introduce an iPhone Web Application for Available Properties, NYCs Billionaire Milkman, Greatest Person of the Day, Heard & SceneDonor of the Day: Real-Estate Titans Milk Drops, From the Postwar Boom to Global Capitalism, 1945-Today. Additional initiatives provide literacy training, tutoring, and a program to build employee readiness. The programs are all extremely selective. Share with your friends. and each individual billionaire profile contains a detailed analysis of how that person's fortune is tallied. Veterinarians have tried for decades to have the products removed from the market. They have been leaders in innovation, creating jobs for thousands of people and leading other entrepreneurs onto new ground. 9. Perhaps the answer lies in the immigrants willingness to remain inventive, flexible, and to not only take advantage of existing opportunities, but to envision and create new ones even when, like Leonard, they have long passed the point of needing to work for money. DP15303. This enabled Edward to invest in his dream of running a hedge fund, which provided private investment opportunities for the wealthy. In the 1950s, a still-vital Max gave all the Hartz Company stock to his three children. PaineWebber, Bankers Trust, and Peat Marwick were among the large firms that found it cheaper to locate back-of-office and computer operations to the other side of the river. Leonard Stern joined his father Max's pet supply business in 1959. Leonard said that people thought he was crazy for purchasing a 750-acre plot of land in New Jersey, which has long been famed for stench, chemical dumps, and bad jokes. I cant remember one time when he told me an untruth I brought my sons into the business to extend my working life, so I could keep my hand in the business. The states vibrant economy in the 1980s spurred skyrocketing growth in the price of real estate and a rush to develop land that was reminiscent of the Florida land booms and the western gold strikes. [9] Gigi Mahon, Hartz Content: The Good Life of Leonard Stern, New York Magazine, May 5, 1986, 45. From Max, a failed businessman who crossed an ocean with little more than thousands of singing birds and the sense that he had everything to gain and little to lose, to his sons genius at solidifying the family fortune through ongoing innovation, to the sons sons taking the family legacy to the next level, the legendary Stern family is a classic example of taking risks, accepting the responsibility of leadership, and remaining grounded in the traditions that enable growth, progress, and the creation of a multi-generational legacy. Stern's sons, Emanuel and Edward, joined their father's business in 1990, expanding the company's real estate holdings with the Soho and Tribeca Grand hotels in New York. [5], Stern's alumni include former Chair of the Federal Reserve of the United States, Alan Greenspan; former CEO and current Chairman of Nasdaq, Robert Greifeld; Iceland's "first billionaire", Thor Bjorgolfsson; former CEO and Chairman of MetLife, John J. Creedon; former CEO of Viacom, Thomas E. Dooley; CFO of Pfizer, Alan Levin; President of DC Comics, Paul Levitz; and the founding financier of The Home Depot, Kenneth Langone. Given its importance, it . He said the paper wanted to deliver the best journalism and the maximum in market penetration for readers and advertisers. New York University - Stern School of Business; New York University (NYU) - Leonard N. Stern School of Business Date Written: July 23, 2019 Abstract As companies and investors globalize, we are increasingly faced with estimation questions about the risk associated with this globalization. Leonard Norman Stern (born on March 28, 1938, in New York City, NY) was the second son of three children of Max Stern and Hilda (Loewenthal) Stern. Leonard saw beyond pets to property when he learned that a soggy, garbage-strewn piece of real estate in the Meadowlands area of New Jersey was for sale at a bargain rate of $13,000 an acre. Total Cost * $152,710. 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