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Prof. Gonzalez quoted in story on Arthur Avenue economy

Areas of Study , Faculty , Finance Stories | Feb 28, 2012 |

The Fordham Schools of Business’ Professor Laura Gonzalez was quoted in a recent New York Daily News article about how the economy of the Eurozone — and the exchange rate of the Euro against the U.S. dollar — could affect businesses on Arthur Avenue.

The article, which you can read here, profiles local shops such as Mt. Carmel Gourmet Food, 90 percent of whose business comes from the sale of imported Italian goods: espresso, olive oil, amaretti biscuits, dried pasta, Parmesan cheese and more. The story also enumerates the manifestations of unrest in the Italian economy — including protests such as truck-driver strikes against Italy’s new austerity measures — that could lead to spikes in the costs of Italian goods sold here. Some business owners quoted in the article worry that if they are forced to raise their prices, customers will come to view their products as a luxury they can no longer afford.

Professor Gonzalez, who teaches in our finance and business economics area, offers a note of reassurance toward the end of the piece, predicting that the Italian companies that supply Arthur Avenue’s retailers probably will trim their profit margins and offer discounts to their U.S. purveyors if demand starts to dip.


Photograph courtesy of Bianca Bueno on Flickr’s Creative Commons.

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