main navigation
my pace

NYC

News & Events

Sort/Filter

Filter Newsfeed

News Item

New York Times: "Where 600 College Students Live Above the Store"

01/06/2014

An article by C.J. Hughes appeared in the commercial real estate section of the New York Times on December 31, 2013 about Pace's new residence halls in lower Manhattan. The article quotes Pace's Chief Administrative Officer, Bill McGrath. The e story is about the increased demand for residential space for college students in New York City.

"Manhattan may be a bit large to be considered a college town. But the rapid expansion of dozens of postsecondary schools across the borough in recent years has added a hard-to-ignore collegiate flavor.

As enrollments have surged, so too have the number of dormitories, which are increasingly being built not by the universities themselves, but by third-party developers, who take on site acquisition, construction and leasing.

...A recent example is 180-182 Broadway, a 23-story dorm at John Street in the financial district that SL Green, along with Wharton Properties and the Harel Group, an Israeli insurance company, built for nearby Pace University.

About 230 rooms in the top 20 floors of the building provide housing for around 600 students and are leased to Pace for 30 years.

The developers are hanging on to a window-lined retail space at the base of the building, which faces the new Fulton Center transit hub. In 2014, two tenants, Urban Outfitters and TD Bank, will open locations in the space, which is a commercial condo, Mr. Herschenfeld said. The commercial condo arrangement is a way for a nonprofit organization like Pace to separate retail development from more traditional uses of its property.

For decades, Pace was primarily a commuter school and made do with dorms at One Pace Plaza, a 1969 building across from City Hall that has 500 beds, as well as classrooms and a library.

But today, Pace enrolls 5,500 undergraduates in Manhattan, up from 4,700 in 2008, officials say (the university also has a campus in suburban Pleasantville, N.Y.). And many come from out of state, with 72 percent of this year’s first-year students living in dorms, said William McGrath, Pace’s chief administrative officer.

Around the corner, SL Green, in a partnership with the Naftali Group and Harel, is also at work on 33 Beekman Street, a new 34-story, 384-room dorm for 770 students that will have a small bookstore at street level and a fitness center upstairs. The high-rise, which Pace will also lease for 30 years, is to open in 2015.

Record-high land costs, coupled with a desire not to mire balance sheets in debt because of expensive construction projects, has made leasing attractive to many schools.

“It wasn’t feasible to build new dorms ourselves,” said Mr. McGrath, who initially talked with landlords about converting empty offices to dorms. Ultimately, though, he decided it was easier to create small, shareable rooms in a custom-built facility.

For dorm life, Pace students pay $15,800 for the nine-month academic year, or about $1,760 a month, which includes furniture and utilities. In contrast, a typical downtown studio, which does not come with beds or electricity, is about $2,700 a month, according to a Douglas Elliman rental report from November."

Read the full article on the New York Times web site: http://www.nytimes.com/2014/01/01/realestate/commercial/600-college-stud...

 

News & Events

Sort/Filter

Filter Newsfeed

News Item

E-Commerce Times: "Is Bitcoin Bubbling Over?"

12/16/2013

E-Commerce Times: "Is Bitcoin Bubbling Over?"

. . . "Bitcoin will probably remain a successful currency for the foreseeable future, particularly because of the anonymity that it offers," said Darren Hayes, an assistant professor at Pace University. "In many ways, Bitcoin is being viewed as a safe investment like gold." -

See more at: http://www.ecommercetimes.com/story/Is-Bitcoin-Bubbling-Over-79620.html#...

News & Events

Sort/Filter

Filter Newsfeed

News Item

San Jose Mercury News: "Google and fellow tech giants move into shopping malls"

12/16/2013

San Jose Mercury News: "Google and fellow tech giants move into shopping malls"

. . . Experts say most tech giants won't open full stores like Cupertino-based Apple -- retail space is expensive, and unless you have a wide product selection it would be hard to fill. Holiday installations and pop-up stores give companies the flexibility to move around and avoid hiring full-time retail staff.

"No long-term commitments, no long leases," said Larry Chiagouris, a consumer behavior and marketing expert at Pace University. "You can be in Palo Alto today and you can be in San Jose tomorrow."

Read more: http://www.mercurynews.com/business/ci_24704155/google-and-fellow-tech-giants-move-into-shopping

News & Events

Sort/Filter

Filter Newsfeed

News Item

Corporate Counsel: "Getting GCs Up to Speed on the Volcker Rule"

12/13/2013

Corporate Counsel: "Getting GCs Up to Speed on the Volcker Rule"

. . . Edwin (Ned) Lewis is in-house counsel at Pace University’s Center for Global Governance, Reporting and Regulation. He lectures and helps develop the curriculum for Pace’s compliance certificate program for financial institutions. He also has served as general counsel to several companies, including 14 years at Borg-Warner Security Corporation.

“You have to start with a clear understanding of the law, as well as a clear understanding of your banking operations and how they will be affected by the rule,” Lewis said.

He explained that banks have wide-flowing operations, and any number of different groups could be involved in proprietary trading, such as wealth management or lending. “You really have to dig in and find out what have you got on your hands,” he advised.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202632064133&sl...

 

News & Events

Sort/Filter

Filter Newsfeed

News Item

Accounting Today: "Seidman Joins Lubin School of Business"

12/13/2013

Accounting Today: "Seidman Joins Lubin School of Business"

Leslie Seidman, former chairman of the Financial Accounting Standards Board, has taken on a new role as the executive director of the new Center for Excellence in Financial Reporting at Pace University’s Lubin School of Business.

In her new role, Seidman will stimulate discussion about current topics in financial reporting through conferences, gatherings, and activities focused on best practices and promoting enhanced reporting. In addition, Seidman will guest lecture and mentor advanced accounting students at Lubin. She will also be available to faculty to consult on relevant research and curricular topics.

Read more: http://www.accountingtoday.com/news/seidman-joins-lubin-school-of-busine...

News & Events

Sort/Filter

Filter Newsfeed

News Item

Pace University and the Association of International Bank Auditors announce new cycle of Certified Compliance and Regulatory Professional program

12/11/2013

Pace University and the Association of International Bank Auditors announce new cycle of Certified Compliance and Regulatory Professional program

New sessions to focus on cybercrime, banking regulations, and the impact of the Dodd-Frank Act on asset and wealth managers, broker/dealers, hedge funds, and money markets

New York, December 11, 2013 — The Center for Global Governance, Reporting and Regulation at Pace University and the Association of International Bank Auditors announce a new fifth cycle of the Certified Compliance and Regulatory Professional (CCRP®) certificate program.

The new session begins March 13, 2014 and continues to September 11, 2014. Classes will be held at Pace University’s Midtown Center in the historic Fred French Building.

Recognized as the ‘standard’ for training and development courses by bank executives and regulators, the CCRP® program offers a 26-week session with intense and in-depth exposure to all aspects of governance, risk management, regulatory strategy, and relevant regulations taught by industry professionals. The program includes coverage of regulations in key foreign countries in a comparison with U.S. practices.

“All class sessions in the CCRP® program are led by executives from top financial firms as well as experts from federal and state regulatory bodies,” says John Alan James, executive director of the Pace Center. “Our current session has participants from some of the largest global financial institutions and stock exchanges, finance and lending firms, asset managers, money market managers, and consulting firms in law and auditing.”

Sessions include detailed discussions of current compliance and regulatory issues, and examinations of real life case studies. Team presentations provide experience in applying coursework to actual business problems.

In addition, “Boot Camp” programs will be offered by AIBA and Pace, with short (one or two-day) courses covering key current regulatory issues like Bank Secrecy Act/Anti-Money Laundering, Office of Foreign Assets Control (OFAC), and the new Dodd-Frank regulations impacting trading and non-bank operations.

The CCRP® at Pace provides growth opportunities and positions global financial services professionals as leaders in the compliance community, giving them an edge in a very competitive job market. The program has been designed with the rigorous content demanded by an academic agenda while stressing the important practical dimensions of real-world experience in the compliance field. Professors from Pace University, all with distinguished prior careers in the private sector, created the syllabus alongside veteran compliance professionals from some of the world’s leading international banks.

Guest speakers drawn from prestigious New York law firms, Big Four Accounting firms, and the bank regulatory community will complement the joint Pace-AIBA team.

About the Lubin School of Business at Pace University: Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at Pace’s suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance. Its programs are designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

About the Association of International Bank Auditors: The AIBA membership consists of internal audit, compliance and internal control professionals of nearly 100 U.S. branches and agencies of foreign banks.  The mission of the AIBA is to foster the professional standing of its members by increasing their knowledge and capacities to carry out their responsibilities with respect to international banking.

Media contact:  Bill Caldwell, Pace, 212-346-1597, wcaldwell@pace.edu

# # #

News & Events

Sort/Filter

Filter Newsfeed

News Item

Leslie F. Seidman, former Chairman of the Financial Accounting Standards Board, named Executive Director of the new Center for Excellence in Financial Reporting at Pace University’s Lubin School of Business

12/10/2013

Leslie F. Seidman, former Chairman of the Financial Accounting Standards Board, named Executive Director of the new Center for Excellence in Financial Reporting at Pace University’s Lubin School of Business

New York, NY – December 10, 2013 – At a time when transparent reporting is more important than ever, the Lubin School of Business at Pace University has created a new Center for Excellence in Financial Reporting.

Leslie F. Seidman, the former Chairman of the Financial Accounting Standards Board (FASB), will serve as Executive Director of the new Center and Guest Lecturer at the Lubin School.

“Leslie Seidman’s depth of knowledge about accounting policy and her breadth of relationships across the profession are unsurpassed,” said Neil S. Braun, Lubin’s dean, who is the former President of the NBC Television Network and Chairman of Viacom Entertainment.  “We are thrilled that Leslie has chosen to make Lubin her home for her thought leadership and continuing contributions to the field.”

In her new role, Seidman will stimulate discussion about current topics in financial reporting through conferences and other gatherings, as well as other activities aimed at identifying best practices and promoting enhanced reporting.  In addition, Seidman will guest lecture and mentor advanced accounting students at Lubin. She will also be available to faculty to consult on relevant research and curricular topics. 

“Pace University was founded as a school of accountancy and has been highly recognized in the field for over a century,” said Seidman. “I am very excited to lead this new Center at Pace, which will focus on the enhancement of reporting practices for the benefit of the investing public.”

Seidman served as Chairman of the FASB from December 2010 through June 2013.  She was originally appointed as a member of the FASB in July 2003, and was reappointed twice.

Previously, Seidman was an auditor with Arthur Young & Co., a Vice President of Accounting Policy with J.P. Morgan & Co., and a member of the FASB staff, serving first as an Industry Fellow, and later as the Assistant Director of Technical Activities. Immediately prior to joining the FASB, Seidman founded and managed a financial reporting consulting firm, serving corporations, accounting firms, and law firms.

A recognized expert in accounting, Seidman was named CPA of the Year (2013) by the American Woman’s Society of CPAs. She also was ranked among the Top 10 Most Influential People in Accounting by Accounting Today from 2010 to 2012, and was named to the NACD Directorship 100 for Governance in 2011. Seidman authored the first three editions of Financial Instruments: A Comprehensive Guide to Accounting and Reporting (currently in its 11th edition from CCH). She is a frequent speaker at conferences and universities.

Seidman, a CPA (inactive), earned an M.S. degree in accounting from New York University Stern School of Business and a B.A. degree in English from Colgate University.

Seidman is a member of the AICPA, the American Woman’s Society of CPAs, Financial Executives International, the International Women’s Forum, and the Institute of Management Accountants. 

About the Lubin School of Business at Pace University: Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at Pace’s suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance. Its programs are designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

Media contact:  Bill Caldwell, Pace, 212-346-1597, wcaldwell@pace.edu

# # #

News & Events

Sort/Filter

Filter Newsfeed

News Item

Global Finance: "Global Salon: John Alan James"

12/06/2013

Global Finance: "Global Salon: John Alan James"

Global Finance sat down with John Alan James, executive director, Pace University Center for Global Governance, Reporting & Regulation. James’s distinguished career in management consulting, governance and academia spans 25 years in Europe and more than 20 years in Asia.

News & Events

Sort/Filter

Filter Newsfeed

News Item

San Jose Mercury News: "More holiday shoppers buy later and online"

12/05/2013

San Jose Mercury News: "More holiday shoppers buy later and online"

. . . "You're seeing the holiday period get longer in terms of the number of days and number of hours," said Larry Chiagouris, a consumer behavior expert at Pace University and marketing consultant. "People are shopping online for an increasing portion of purchases and for more expensive purchases."

Read more: http://www.mercurynews.com/business/ci_24639421/cyber-monday-track-break-online-sales-records

News & Events

Sort/Filter

Filter Newsfeed

News Item

Baltimore Sun: "Despite more time to shop, Black Friday weekend customers spend less"

12/04/2013

Baltimore Sun: "Despite more time to shop, Black Friday weekend customers spend less"

. . . Larry Chiagouris, a marketing professor at Pace University in New York, said he thinks the National Retail Federation is too conservative in its retail sales projections.

"There is a lot of pent-up demand. At some point in time, there is a gush of shopping that takes place when people aren't comfortable with putting things off any longer," he said. And that point is likely now, he said.

Chiagouris said he doesn't expect consumers to spend, however, unless they are given special deals.

"We have now trained shoppers to expect discounts," he said.

Read more: http://www.baltimoresun.com/business/bs-bz-black-friday-report-20131201,0,2952691.story#ixzz2mWUV9CFU

Pages