June 2005 Issue

Joseph R. Baczko Named Dean of Lubin School
David Oreck to Visit Pace
Spring Issue of LubinFutures Published
Class of 2005 Receive Honors
7th Annual Lubin Golf Classic
Diversity Managment from French Perspective
AOM's President Addresses Lubin Leaders
Pace Shines Again in NYSSA Challenge
Ad Team Scores in National Advertising Competition
Pace's Beta Alpha Psi First Place Again
NABA Chapter Celebrates 4th Outstanding Year
PUMA at the Big Easy
Entrepreneur Team Wins 'Rookie of the Year'
Pace Investment Team Scores High at Competition
ALPFA Chapter Places Second in Accounting Case Competition
3rd Annual Lubin Industry Conference
Lubin Student Awarded Research Opportunity at Michigan

[Joseph R. Baczko]
Joseph R. Baczko
Joseph R. Baczko Named Dean of Lubin School

Pace University has appointed Joseph R. Baczko, former president of Blockbuster Entertainment and Toys "R" Us International and chair of the Board of Visitors for the School of Foreign Service at Georgetown University, as dean of the Lubin School, effective July 1, 2005. Said Baczko: "I am thrilled to assume the leadership of the Lubin School of Business at Pace University, and look forward to working with its distinguished faculty, staff, students, and alumni as we build on its 100-year legacy of high quality business education."
>> more info

David Oreck to Visit Pace
[David Oreck]
David Oreck


The ubiquitous David Oreck, founder and chairman of the highly successful Oreck Corporation, will be an Entrepreneur in Residence on the New York City campus on December 8, 2005. In addition, he will be the keynote speaker and serve as a judge for the 2nd Annual Pace Pitch Contest on December 9. "Building a Brand" will be Oreck's theme for his entrepreneurship lectures.
>> more info

Spring Issue of LubinFutures Published
[LubinFutures]


The spring issue of Lubin's new magazine, LubinFutures, is hot off the press. The issue features provocative articles on China's balancing act between economic boom and bubbling social pressure; an Economic Roundtable on Private Equity in the Public Sector, with three financial experts who debate the best ways to eliminate U.S. deficits; an Executive Suite interview with Lubin alumnus Charles Mak, head of Private Wealth Management, Asia Pacific, Morgan Stanley; The Street forecast on changing ethical behavior in the boardroom; and a research spotlight on Corporate Tax Sheltering.
>> more info

Class of 2005 Receive Honors

[Arthur L. Centonze]
Arthur L. Centonze
Lubin students, faculty, administrators, families, and friends gathered at the New York City and Westchester campuses on May 19 and 20, respectively, to celebrate the achievements of the School's Class of 2005.

After the induction ceremony for Beta Gamma Sigma (BGS), the preeminent business society, on the New York City campus, Dr. Eric Kessler, BGS faculty adviser, presented Dr. Arthur L. Centonze, Dean of the Lubin School of Business, with the Pace University 2005 Beta Gamma Sigma Award. "During his fifteen year tenure as the dean of Lubin, Dr. Centonze has led the School with honor, wisdom, and honesty," said Kessler. "Under his leadership, the School has become one of the top business schools in the country as indicated by our ACCSB International accreditation."

Associate director of BGS, Dr. Kathryn F. Winsted, presented the BGS award to Dr. Centonze at the Westchester ceremony.

Justyna M. Tuniewicz (New York City), received the Outstanding Student of the Year Award in recognition of her scholarship and exceptional dedication to the ideals of the Lubin School of Business. Janet A. Lenaghan (New York City), received the Doctoral Program Award, which is given to the graduate of the Doctor of Professional Studies Program who has achieved the highest academic average and defended a dissertation judged to be of the highest quality in both academic rigor and practical application. Milena Kats (New York City) and Timur Rakhmanov (Westchester) were awarded Undergraduate Scholastic Achievement Awards in recognition of their excellence in scholarship, effectiveness in class discussions, research and general performance. The Academic Excellence Award in an Associate Degree Program was presented to Diane Castiglia (Westchester), who excelled in scholarship and general performance.

7th Annual Lubin Golf Classic
[Lubin Golf Classic]


Great weather and fun-spirited golfers set the pace for the Lubin School's 7th Annual Golf Classic at the Wheatley Hills Golf Club in East Williston, NY. Golfers played on a challenging Devereux Emmett designed course and enjoyed 5-star cuisine at brunch, a dinner/cocktail reception, fabulous raffle prizes, and silent and live auctions. The outing was the most successful ever, with proceeds from the event providing support for student leadership initiatives.
>> more info

Diversity Management from French Perspective
[Diversity Management ]


"Diversity Management from a French Perspective" will be the topic of an open forum discussion among French, American, and Franco-American scholars and practitioners to discuss differences in cultural and business practices between France and the United States. The conference will be held on the New York City campus on June 29th, 5-8 p.m.
>> more info

AOM's President Addresses Lubin Leaders

[Dr. Denise Rousseau]
Dr. Denise Rousseau
"Many times we see an organization that wants to change but when a crisis or disruption hits, it falls back on its old practices," said Dr. Denise Rousseau, president of the Academy of Management (AOM), the oldest and largest scholarly management association in the world, in her lively and informative lecture on "Leadership and Change." The author of six books and over a hundred articles on careers, employment, and human resource strategies, Rousseau visited Pace University's downtown New York City campus on April 14, 2005, as part of the Lubin Leaders and Scholars program.

Losses First – Gains Later
"A basic principle in change is that losses are more painful than gains are good," said Rousseau, explaining that loss has a greater emotional impact than a gain of equal value would have. Since the initial phase of the change is almost always a loss and gains come only later, there is an issue of resistance to change, she said. "If people are reacting negatively to change, that's the normal discomfort with losing things," opined Rousseau. "[So] managers need to get enough confidence to stay with the change to get the gain."

Does Employee-Management Relationship Matter?
"Change comes in a lot of different forms: you can have a simple change that feels hard and a complicated change that feels easy," continued Rousseau, explaining that the factor that "shapes how a particular change will feel" is the nature of the relationship between the employees and the leadership. "When people trust the leadership, a big change can feel small, and when they don't—even minor things can be extremely painful." She said that the reason why entrepreneurial firms find it easier to change is because of a direct relationship between employees and the founder, which results in a better understanding of his/her motives and willingness to take the leap of faith. "The nature of the relationship between labor and management radically colors the perspective people will take with regard to the change." Underlining the importance of the organizational vision, Rousseau pointed out that employees are willing to make sacrifices today only if they can see the opportunities for themselves in the future.

Why Best Practices Are Hard to Copy?
"The vast majority of management innovations fail," commented Rousseau in speaking about the fact that a pattern successfully implemented in one organization doesn't necessarily work in other companies. She pointed to culture as the reason why best practices are hard to copy, i.e., an infrastructure that supports the practice. "You can copy the practice...but miss a whole host of other supporting activities," she said. "If we are able to make a change and use the existing values and assumptions, it's so much easier to get there."

Opining that often managers are looking for "a quick fix," Rousseau recommended: "Think about the change process as a rare flower that we find overseas and would like to bring home. To get this flower to make it, it has to go native in our organization...[so] the culture is the stuff we have to figure out," concluded Rousseau.

The editor-in-chief of the Journal of Organizational Behavior, Rousseau is a professor of Organizational Behavior at the Heinz School of Public Policy and Management at Carnegie Mellon University and in the Graduate School of Industrial Administration.

For more information, visit the Lubin Leaders and Scholars Web site at www.pace.edu/lubin/llsp, Dr. Rousseau's Web site at www.andrew.cmu.edu/user/rousseau or the Academy of Management Web site at www.aomonline.org.

Pace Shines Again in NYSSA Challenge
[NYSSA Challenge]
Photo courtesy of The New York Society of Security Analysts, Inc.


Lubin graduate students Jennifer Bayne, Haroon Chaudhrey, Darlina David, Amit Durgani and Li Yao participated with other New York area teams in the Third Annual NYSSA Investment Research Challenge. Pace placed first in the written report section of the Challenge and overall came in only a fraction of a point behind Fordham University, the first-place winner, in the equity research report competition. The other area teams were from Baruch College (CUNY), Columbia University, NYU, Rutgers University, St. John's University, and Seton Hall University. The Pace team has been involved in the competition since its inception three years ago and has won or placed very well in two out of the three years.
>> more info

Ad Team Scores in National Advertising Competition

[Ad Team]
The Pace Pleasantville Advertising team, led by faculty advisor Paul Kurnit, came in second (up from third place last year) in the American Advertising Federation National Student Advertising Competition. Students from 23 regional schools worked on a real-world marketing campaign for Yahoo! "It's My Life" was the tagline for the campaign Pace students created to convince more teens to use Yahoo services. Pace was .30 behind the first-place winner, Ithaca College. The team garnered first place for presentation and third place for their marketing plan.
>> more info

Pace's Beta Alpha Psi First Place Again

[Beta Alpha Psi]
In April 2005, 15 members of the Iota Lambda chapter of Beta Alpha Psi, the international honorary professional organization for financial information students, successfully competed against their peers at the annual Regional Competition held in Pittsburgh, PA.

This year the competition included three categories: Service to the Community, Ethics and Integrity, and Innovation. Pace and NYU were the only two schools that competed in all three parts of the event. First-place winners in the Service category, the Lubin team presented on their trip to a nursing home called "Brightening the Day for the Elderly." "We presented on the advantages of doing such community service," commented Anthony Vinci, Pace chapter president, "[In doing this kind of community service] you have direct impact and direct relationships as opposed to something like the March of Dimes, where you don't directly help or affect anyone."

In the Ethics category, Pace students presented a Mock Ethics Trial debating an ethical issue in accounting. The Pace team took second place, following Marist College. Presenting on the executive board evaluation process, which they implemented during the year for the Innovation category, the Pace team was second only to the University of Connecticut.

Among other participants in the competition were Baruch College, St. John's University, Buffalo College, and Albany College. The Lubin faculty advisor is Dr. Susanne O'Callaghan.
>> more info

[NABA]
NABA Chapter Celebrates 4th Outstanding Year

The Lubin student chapter of the National Association of Black Accountants (NABA) was declared the winner of the Student Chapter Reporting Evaluation Program (SCREP) in the 2nd division (designated by the number of members in the chapter). Competing with other schools from all over the nation, Lubin NABA students won for the 4th consecutive year. They also received an award for their contribution to the NABA Annual Spring Banquet, which took place on April 27, 2005. During the NABA National Convention in Detroit in mid-June five Pace NABA students competed with their peers from other chapters in a case study program hosted by KPMG.

For more information, visit the NABA Web site at www.geocities.com/pacenaba/NABAMENU.html

PUMA at the Big Easy
[PUMA]


The Pace University Marketing Association (PUMA) participated in the Annual American Marketing Association's Collegiate Conference in New Orleans, in mid-April. The New York chapter won the Outstanding Professional Development and the Outstanding Chapter Planning Awards. The PUMA Pleasantville chapter received the New Chapter Performance and the Best Use of Conference Theme Awards.
>> more info

[Entrepreneurs]
Entrepreneur Team Wins 'Rookie of the Year'

The Pace Pleasantville entrepreneurs' team of 15 students, inspired by their faculty adviser Professor Bruce Bachenheimer, won the "Rookie of the Year" award at the Students in Free Enterprise (SIFE) Regional Competition held in New York City in April. Part of the Pace Association for Collegiate Entrepreneurs (P.A.C.E.), the SIFE team studied business plan development and helped instruct teens at the YMCA who were interested in establishing their own small businesses.
>> more info

Pace Investment Team Ranks High in Inter-MBA Asset Management Competition
[Pace Investment Team ]


Only the University of Maryland bested Pace's student investment team in the Inter-MBA Asset Management Competition organized by Baruch College (CUNY). The competing teams had to build an overall investment strategy, perform trades, and rebalance their portfolios each month through April 2005, when a panel of Wall Street experts ranked them. The Pace team came in first in the written report component of the competition, receiving 40 out of 40 points. Faculty advisers Professors P.V. Viswanath and Padma Kadiyala counseled the students throughout the competition. Among other schools fielding teams in the event were NYU, Baruch College, Georgetown University, and Fordham University.
>> more info

[ALPFA]
ALPFA Chapter Places Second in Accounting Case Competition

The Pace chapter of the Association of Latino Professionals in Finance and Accounting (ALPFA) placed second in this year's accounting case competition, held at the offices of KPMG in New York City. Eight Northeast region schools competed and St. John's University came in first.
>> more info

3rd Annual Lubin Industry Conference

[Janis Estrella]
"Educating Generations of Leaders" was the title of the 3rd Annual Lubin Industry Conference held on the downtown New York City campus on April 27, 2005. Lubin faculty, alumni, and numerous industry leaders gathered to share their ideas about "breaking into the business," with Pace students. "[The purpose of the event] is to show the students how to become leaders," commented Lubin class president Joshua Rosen, the moderator of the conference.

The day was organized into a series of panel discussions, followed by two hands-on workshops.

Entrepreneur and professor of economics Mark Weinstock opened the Student and Alumni Panel discussing ways to become a successful entrepreneur. "It's presented to you that the only way to become successful is to work for a large company," said Wienstock. "Entrepreneurship means you can start your own business, create your own environment, set your own goals that are only limited by your ambition, intelligence, and by sheer luck." According to Weinstock, another opportunity to become a successful leader within a big firm is through intrapreneurship. "Intrapreneurs are people who become more than just employees or managers by leading new divisions or innovating new campaigns. Corporate America is not looking for conformists, it is looking for people who can seize the initiative, take some vision, and make it really happen," he concluded.

Recent Pace alumni Alex Torok and Katherine Georgion, and current student Brian Burton, shared with the audience their experiences as interns and how this experience helped them get job offers.

Thomas Hogan, COO of Deloitte and Touche, North East practice, the first speaker on the Professional Panel, described the challenges of bringing two major accounting firms Deloitte, Haskins, Sells, and Touche Ross together in 1989. He also spoke about the importance of helping employees excel through leadership, entrepreneurship, and personal advancement in the work place. He also singled out the importance of supporting and encouraging women's initiatives within an organization.

Speaking about the investor relations field, Robert Jones '78, vice president of Monster.com, told the audience how his experience as an intern helped him to build a successful career. "Be positive, work hard, and always be aware of where you are [because] the more you put yourself in a position to succeed, the better off you will be," he recommended to students.

David Dahill '99, vice president of JPMorgan Chase, spoke about the fickle work environment in the financial industry. "In order to make yourself valuable in the organization, you need to continue to educate yourself," he said. "What has significantly helped me in my career was that I chose to go back to school at night and show my commitment to improving myself and adding value to the organization."

Finally, Maxine Sugarman, director of Cooperative Education at Pace, encouraged students to participate in Co-op programs and internships and to look on them as invaluable tools to refine their working knowledge of business and its challenges. Following the conference, First Allied Securities and JPMorgan Chase, respectively, offered hands-on workshops to help interested students put what they learned into practice.

[Janis Estrella]
Janis Estrella
Lubin Student Awarded Research Opportunity at Michigan

Janis Estrella, a Lubin student in the Pforzheimer Honors College, is spending the summer working one-on-one with a mentor at the University of Michigan as part of the Summer Research Opportunities Program (SROP). The program is designed to immerse talented minority students in research projects and provide them with the resources to learn more about graduate school possibilities, in particular at a Big Ten University. Estrella is one of 529 students participating in the program this summer.
>> more info