5/18
Penn in the News
A round-up of Penn mentions in local, national, and international media.
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Penn In the News
Robinhood said to keep go-public plan, weighing IPO or SPAC deal
Cait Lamberton of the Wharton School spoke about Robinhood, the trading app at the center of a market manipulation controversy involving GameStop and Reddit. “I don’t think they ever anticipated that they would end up being the battleground for a showdown between traditional Wall Street and the individual investor, but that’s really what they are right now,” she said.
Penn In the News
Gensler is poised to confront stock market hit by historic mania
Jill Fisch of the Law School spoke about the obstacles facing Gary Gensler, the incoming SEC chief. “We’re in a bubble, and bubbles burst,” said Fisch. “For the SEC, that’s a tough thing because investors lose a lot of money. The question is how do you regulate when you know there’s a bubble?”
Penn In the News
It seems money does buy happiness after all
Research by Matthew Killingsworth of the Wharton School exploring the link between income and happiness finds that money does indeed enhance happiness.
Penn In the News
China diplomat’s ‘red line’ warning points to U.S. tensions
Avery Goldstein of the School of Arts & Sciences spoke about relations between the U.S. and China. “So far, all signs on both sides are that neither wants to appear too eager to make the first move in moderating the bilateral tensions,” he said. “Despite the transition to a new administration in the U.S., continuity rather than change in this troubled relationship prevails.”
Penn In the News
COVID-loss case by restaurant is first U.S. test for insurers
Tom Baker of the Law School commented on a lawsuit in which a New Orleans restaurant is suing its insurer for coverage of pandemic-related losses. “This is the first opportunity business owners have to prove the virus can cause physical damage or loss,” he said. “The decision will have an impact on whether other cases can move forward.”
Penn In the News
Should Biden go big on public housing?
Daniel Aldana Cohen of the School of Arts & Sciences made an argument for a significant investment in public housing infrastructure, which would create jobs and relieve inequity. “There is no doubt that there is a lack of high-quality, healthy, affordable housing in disadvantaged communities,” he said.
Penn In the News
‘Love contracts’ go mainstream as employers track office romance
Anita Allen of the Law School said workplace romance policies can help maintain fairness and reduce distractions. However, she said, “the regulation of interpersonal relationships raises privacy concerns. People can understandably feel that they’re intrusive, especially within a large company.”
Penn In the News
Landlords challenge U.S. eviction ban and continue to out renters
Michael Levy of the Perelman School of Medicine modeled the public health risks associated with evictions. His research predicted that a 1% eviction rate would lead to a 5-10% higher incidence of COVID-19 infection, and 1 death for every 60 evictions.
Penn In the News
A Hoover study claiming Biden would harm the economy has critics
Richard Prisinzano of the Penn Wharton Budget Model said a study from the Hoover Institution attributes post-2026 tax increases to Joseph Biden, when in actuality the increases are already a part of existing laws. “I’m trying not to be overly partisan, but I think they’ve put their thumb on the scale in that way,” he said.
Penn In the News
Stay-at-home orders more effective on virus than closing businesses
Research by the Wharton School’s Kent Smetters, Alexander Arnon, and John Ricco found that shelter-in-place orders did more to combat the coronavirus than business closures and at a lower economic cost.