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Inside Higher Ed: "At His Own Pace"

02/17/2017

Inside Higher Ed: "At His Own Pace"

Marvin Krislov is in for a dramatic change of scenery.

Krislov, the 56-year-old president of Oberlin College, was announced on Tuesday as the next president of Pace University, effective Aug. 1. The move will have him leaving a 3,000-student liberal arts college and conservatory in northern Ohio that’s known for sharply leaning to the left in order to lead a professionally oriented 13,000-student university with campuses in Manhattan and New York’s Westchester County.

The differences don’t stop there. Oberlin’s student body is decidedly whiter, richer and more traditional than Pace’s. While Oberlin reports that 20 percent of its student body consists of students of color, Pace says its undergraduates are 49 percent white. At Oberlin, 9 percent of first-time undergraduates received Pell Grants in 2014-15, indicating they came from low-income families. The portion of first-time undergraduates receiving Pell Grants at Pace that year was 34 percent, according to federal data. Pace also has more than 3,500 graduate students and more than 500 law students.

It’s not the typical next step for a college president in Krislov’s position. He announced in September that he would be stepping down at the end of this academic year after a decade as Oberlin’s president. But one might expect his career arc to bend more toward another liberal arts college or a widely known research institution next. He was a finalist for the president’s position at the University of Iowa in 2015.

Instead, Krislov sees Pace as an opportunity to grow personally. He hears tremendous concern right now over whether higher education is providing students with enough opportunity, he said in a telephone interview Tuesday. Krislov sees Pace as a place that has traditionally helped first-generation students, students from working-class families and immigrants.

“I think higher ed is changing,” he said. “I think Pace may be the model for the kind of college or university we’re going to need more of. I’m excited about building a different model and taking this opportunity.”

Krislov sees himself as a longtime advocate of opportunity for those who are disadvantaged and for civil rights. At Oberlin, he created an access initiative that eliminated loan requirements for Pell-eligible students. Before that, he was among the leaders of the University of Michigan’s successful legal defense of affirmative action in front of the U.S. Supreme Court when he was that university’s vice president and general counsel.

Pace’s institutional values fit with Krislov’s, he said. He also pointed out that Pace has a liberal arts core, arguing that there are similarities with Oberlin.

Read more here.

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Associated Press: "Oberlin's president to take over at Pace University in NYC"

02/17/2017

Associated Press: "Oberlin's president to take over at Pace University in NYC"

NEW YORK (AP) - The head of Oberlin College in Ohio will become the next president of New York's Pace University.

Pace's board of trustees announced the selection of Marvin Krislov as the university's eighth president on Tuesday.

Krislov is a lawyer and former Rhodes scholar who has been president of Oberlin since 2007. He announced his plan to leave the liberal arts college in September.

At Oberlin, Krislov presided over a selective college known for its long history of liberal activism. Controversies have erupted there in recent years over issues including free speech and inauthentic ethnic food in the dining hall.

Pace is a different type of institution, with many students who are the first in their family to attend college. It has campuses in lower Manhattan and in New York City's suburbs.

http://www.usnews.com/news/new-york/articles/2017-02-14/oberlins-president-to-take-over-at-pace-university-in-nyc

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Wall Street Journal: "Oberlin’s Krislov Named President of Pace University"

02/17/2017

Wall Street Journal: "Oberlin’s Krislov Named President of Pace University"

Marvin Krislov at the ceremony inaugurating him as the 14th president of Oberlin College in 2007. Photo: Gus Chan/The Plain Dealer/Associated Press

Marvin Krislov, president of Oberlin College since 2007, has been tapped to be the eighth president of Pace University as the New York City school prepares a major expansion.

In August he will succeed Stephen Friedman, 78 years old, who has been in the post for a decade, and said last year that he would step down.

The board of trustees at Pace announced Mr. Krislov’s appointment Tuesday morning, noting his efforts to make Oberlin more diverse and enroll more high-qualified, low-income students. During his tenure, Oberlin established a fundraising campaign that raised $318 million, attracted more science grants and built a new jazz studies building and stadium.

Mr. Krislov, 56, will steer Pace at a time when it has ambitious expansion plans. Last week, university officials announced a $190 million plan to renovate and expand its lower Manhattan campus. The century-old private institution has about 13,000 students in undergraduate and graduate programs.

“I am honored to be chosen to lead Pace University during this exciting period of growth and revitalization,” Mr. Krislov said in a news release. “Pace’s commitment to access and pathways to success for students inspires me.”

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Pacesetters in Financial Reporting: Key takeaways from the conference hosted by Pace University, FEI and EY

02/15/2017

Pacesetters in Financial Reporting: Key takeaways from the conference hosted by Pace University, FEI and EY

In late 2016, Lubin School of Business at Pace University, Financial Executives International (FEI) and Ernst & Young LLP jointly hosted the Pacesetters in Financial Reporting conference. The conference was designed to stimulate discussion about how to enhance financial reports and to acknowledge, and learn from, companies that are striving to better meet the information needs of today’s investors.

“...Officials from the SEC and FASB have been urging companies not to wait for official guidance from them but rather to take the initiative and find ways to make their financial reports more effective under the existing standards and regulations.”

—Leslie Seidman

Lubin School of Business

Pace University

Read more here

Please email Leslie Seidman at LSeidman@pace.edu if you would like to receive information about the next Pacesetters in Financial Reporting Conference scheduled for September 19, 2017. 

 

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The Hill's Pundits Blog: "The world is safer because of the Iran deal. We must not abandon it."

02/13/2017

The Hill's Pundits Blog: "The world is safer because of the Iran deal. We must not abandon it."

“The 2015 Joint Comprehensive Plan of Action (JCPOA), commonly known as the ‘Iran deal,’ represents one of the most significant recent diplomatic victories in curbing the spread of nuclear weapons,” writes Professor Matthew Bolton, Associate Chair of the Department of Political Science at Pace University. “It resulted from complex technical negotiations that do not lend themselves to snappy slogans. Nevertheless, at its heart, the agreement’s simple bargain has made the world safer.

“The JCPOA, which is often depicted as a deal between America and Iran, is actually the result of a multi-sided conversation, including Russia, China, Britain, France, Germany and a representative of the European Union. Keeping all these countries on board presented Iran with a united international front, preventing it from playing into great power proxy conflicts.

“The agreement cuts off all possible pathways to an Iranian nuclear weapon. It prohibits Iran from acquiring or stockpiling weapons grade uranium and scraps the excess centrifuge capacity Iran would need to do enrichment itself. The deal commits Iran to redesign its Arak nuclear reactor, preventing the production of weapons grade plutonium or tritium. It halts the development of further facilities that could do so.

“But what if Iran only pretends to comply and moves forward with developing the Bomb anyway? The agreement foresaw this possibility and established the most robust ever international inspections regime. To start up its nuclear weapons program again, Iran would have to expel or block the work of the inspectors, which would raise immediate red flags. This would give the world at least a year to respond before Iran would have sufficient material to build a bomb.

“The JCPOA was welcomed unanimously by the United Nations Security Council. Should Iran step out of line—or any other country help it to do so—they could face the array of punitive measures available to the Security Council, from sanctions to military action.

“In short, the deal closed off all routes to an Iranian bomb, posted checkpoints on all roads leading toward it, and committed the entire world to making sure no traffic moves that way. Since the JCPOA went into effect January of last year, the International Atomic Energy Agency (IAEA) has verified Iran’s compliance six times. When the IAEA has spotted minor technical violations, Iran has made rapid corrections.

“Given how comprehensively the JCPOA has shut down Iran’s nuclear weapons program, what was in it for them? It eased nuclear-related sanctions on Iran that were having a debilitating effect on its economy and improved relations with the rest of the world.

Read more here.

 

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New York Business Journal: "This Indian restaurateur owns 5 eateries, including 3 in Curry Hill"

02/13/2017

New York Business Journal: "This Indian restaurateur owns 5 eateries, including 3 in Curry Hill"

. . . Many independent retail stores including Chinese restaurants, barber shops and nail salons haven’t “effectively developed a business model to consolidate these fragmented industries,” explained Bruce Bachenheimer, executive director of the Entrepreneurship Lab at Pace University in New York. “The most common reason behind consolidation is economies of scale,” he said.

Moreover, he noted the restaurant business is challenging for individual entrepreneurs to expand. “The restaurant business is extremely competitive and subject to numerous trends and fads. It’s hard enough to manage one, much more complex to keep five thriving,” pointed out Bachenheimer.

Sustaining a loyal staff is another hurdle. “Aside from external factors such as competition and changing trends, high employee turnover is a challenge, attracting, retaining and motivating staff is difficult,” he asserted.

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Kiplinger's Retirement Report: "Join a Nonprofit as An Encore Career"

02/13/2017

Kiplinger's Retirement Report: "Join a Nonprofit as An Encore Career"

SUZANNE ARMSTRONG THRIVED IN THE CORPORATE world, working for American Express and later consulting for Citibank, Deloitte and other behemoths. Her expertise: helping leaders build support for major change in a company’s vision or systems.

Several years ago, Armstrong went through her own transformation. She left big business and now taps her “change leadership” know-how as a consultant for non-profits, splitting her time between Miami and Toronto.

When the Miami Art Museum was planning to move to a new location and expand its mission in 2012, the museum’s director asked Armstrong, who was a donor, to work with the leadership team to ensure a smooth transition for employees. (The museum changed its name to Pérez Art Museum Miami after the move.) Armstrong also found work at United Way, where she coaches executives at the organization. “I am tremendously fulfilled,” says Armstrong, 69. “It’s great to continue to do the same kind of work—and make a difference.”

For someone at Armstrong’s level of experience, the pay is nominal—about $20 an hour for about 15 to 20 hoursa week. She is paid through the South Florida affiliate of ReServe, which places professionals ages 55 andolder in part-time positions with nonprofit organizations and government agencies.

Like Armstrong, many baby boomers with long careers in the business world are now eyeing work in the nonprofit sector. About 21 million adults between the ages of 50 and 70 report that they would like to seek jobs that address social needs, particularly in education, health care, human services and the environment, according to a 2014 study by Encore.org and market research firm Penn Schoen Berland.

These second-act, social-impact jobs are known as encore careers, and the survey found that most who seek these jobs want work that will help them feel worthwhile. Facing perhaps decades in retirement, “it’s so incredibly important to make these extra years meaningful, useful and productive,” says Joan Tucker, director of the Encore Transition Program at Pace University, in New York City. The program’s continuing education workshops help boomers figure out how to create a purposeful retirement.

 

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Daily News: "Pace University launches $190M plan to upgrade lower Manhattan campus"

02/10/2017

Daily News: "Pace University launches $190M plan to upgrade lower Manhattan campus"

The Daily News covered news of the New York City Master Plan for Pace. The news appears online and on page 2 in print.

From the Daily News:

"Pace University kicked off a $190 million renovation and expansion of its lower Manhattan campus on Thursday, joining a number of other city colleges already in the midst of expensive projects.

In the first phase of Pace’s multiyear, three-phase plan, the 111-year-old private college will spend $45 million to upgrade its two main campus buildings adjacent to the Brooklyn Bridge and on Park Row.

Pace, which enrolls nearly 13,000 students in bachelor’s, master’s and doctoral programs, will renovate more than 55,000 square feet of space in the two buildings under the first phase of the project.

The construction will create a variety of new spaces, including an art gallery and shared offices for students and staffers. The buildings also will get new entryways and lobbies.

Pace President Stephen Friedman said the massive renovation reflects Pace’s commitment to its students and lower Manhattan neighborhood.

“We are advancing an exciting plan that invests in our future by re-creating our campus,” he said. “Our new plan embodies our enduring commitment.”

Construction on the first phase is scheduled to begin this summer and projected to finish in fall 2018.

New York University, Columbia and Cornell are also in the midst of their own campus expansions in the five boroughs."

Read the original story here.

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Wall Street Journal: "Pace University Plans $190 Million Update of Lower Manhattan Campus"

02/10/2017

Wall Street Journal: "Pace University Plans $190 Million Update of Lower Manhattan Campus"

Wall Street Journal writer Leslie Brody reported on Pace's plans for the New York City campus.

"Construction is expected to start this summer and finish in fall 2018, school officials said"

 

Pace University, a century-old private institution with growing enrollment, announced a $190 million plan Thursday to renovate and expand its lower Manhattan campus.

The first phase will update One Pace Plaza, the school’s flagship academic building next to City Hall, and 41 Park Row, the home of the New York Times from 1889 to 1903. The city’s Landmarks Preservation Commission must review some changes to the latter.

Pace University, which has about 13,000 students in undergraduate and graduate programs, has seen a rapid rise in those who are attending full time and living on campus.

 

School officials said the first phase will redesign the lower levels of the two buildings to add more space for students to meet outside of class with peers and faculty.

New spaces will include an art gallery, student commons, advising center and lounges. Construction is expected to start this summer and finish in fall of 2018, school officials said, and the process will allow classes to continue during that time.

Universities nationwide have faced criticism in recent years for adding luxury dorms or gyms while students shoulder mounting tuition. President Stephen J. Friedman said the renovations were sorely needed. 

“This isn’t climbing walls we’re building,” he said. “This is all academic space and student gathering space.”

The university has about $100 million in donations for construction and a campaign will seek to raise another $90 million, he said.

 

The first phase will cost $45 million. Later phases will add two floors to a six-story section of One Pace Plaza and update technology in classrooms.

Pace has been an engine of upward mobility, according to data released in January by researchers at the Equality of Opportunity Project, who studied students from 1999 to 2013. Pace came in second nationwide in a ranking of colleges by mobility rate: 15% of its students came from poor families and 56% of those students reached the top fifth of incomes in their early 30s.

SUNY’s Stony Brook University and City University of New York made the top 10 as well.

Read the original article here.

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Crain's New York Business: "Pace University will spend nearly $200 million to keep pace with lower Manhattan"

02/09/2017

Crain's New York Business: "Pace University will spend nearly $200 million to keep pace with lower Manhattan"

News broke on the Master Plan for Pace's Lower Manhattan campus with a story by Daniel Geiger in Crain's New York Business.

The school's fortresslike campus was designed in the 1960s to shield the student body from a turbulent urban environment

Pace University plans to spend $190 million to transform its fortresslike campus to better connect students with the surrounding city and draw attention to the school's streak of growth.

School officials say Pace plans to renovate 1 Pace Plaza, its flagship campus complex just south of the entrance to the Brooklyn Bridge. Clad with an imposing concrete façade, the building hearkens back to a time when institutions sought to wall themselves off from the city's gritty streets.

"When 1 Pace Plaza was built in the 1960s, it was a turbulent time, and the architecture was designed to screen out the city and make it a haven inside a shell," said Stephen Friedman, Pace's president. "What has happened since then is lower Manhattan has become this incredible area."

The project also highlights the rapid growth of the university, which has had a streak of academic success in recent years. The student body at its lower Manhattan campus has grown by more than 500% since 2000, and the school recently placed second nationally in a survey that measured the upward mobility of its grads.

The project will start with about $45 million of improvements to the lower floors of 1 Pace Plaza and a neighboring property, 41 Park Row. Because the 13-story office building at 41 Park Row is a landmark, Pace must first receive permission from the city's Landmarks Preservation Commission for what it says will be modest changes to the exterior at the base of the property, such as relocating its main entrance from Park Row to Spruce Street. The school plans to file its application with the commission on Thursday, Friedman said.

In a second, more-expensive phase, Pace plans to add two floors of academic space on top of the western half of 1 Pace Plaza, creating 67,000 square feet that will be used in part by its Lubin School of Business. The school has hired architecture firm FXFowle to design the upgrades and expects to begin the project by the end of the year.

The initial phase of the work will reorganize student life at the buildings and better connect it to the surrounding streetscape. For instance, a cluster of administrative offices near the front entrance of 1 Pace Plaza will be replaced with a welcome center and a student union. New glass walls will be installed facing Frankfort and Spruce streets on the perimeter of the block-sized building—replacing tinted panes with clear glass panels that offer a glimpse inside to passers-by.

"We want people to know that there are exciting things happening here, and we want to bring student life here into view," said Jean Gallagher, a vice president at the university, who is helping to oversee the renovation project.

The school plans to relocate a Barnes & Noble campus bookstore on the ground floor of 41 Park Row into 1 Pace Plaza, replacing the old space with an art gallery that will feature work from students and faculty from its Dyson College of Arts and Sciences.

"The gallery is a great opportunity to activate the space and showcase our creativity to a neighborhood that has become more diverse," Gallagher said.

Friedman, who plans to retire from his post as president in May after a decade in the position, said work on the first phase will begin by the end of the year and take about a year to complete. Afterward, the school will begin planning the second phase. Friedman said Pace has raised about $100 million from the sales of the Briarcliff Manor campus in Westchester it previously operated and a dormitory building at 106 Fulton St., as well as having funds given years ago by Joseph Lubin, for whom its business school is named.

"We're planning to raise the additional money needed for the work," Friedman said.

Read the original article here: http://www.crainsnewyork.com/article/20170209/REAL_ESTATE/170209880/pace-university-plans-200-million-renovation-of-its-lower-manhattan

Read more about this in:

Real Estate Weekly - http://rew-online.com/2017/02/09/pace-university-unveils-190m-campus-modernization-plan/

The Real Deal - https://therealdeal.com/2017/02/09/pace-plans-190m-upgrade-to-lower-manhattan-campus/

Patch - http://patch.com/new-york/downtown-nyc/pace-university-begin-construction-lower-manhattan-campus

Curbed NY - http://ny.curbed.com/2017/2/9/14559338/pace-university-expansion-lower-manhattan-fidi

POLITICO New York Real Estate: http://www.politico.com/states/new-york/tipsheets/politico-new-york-real-estate-pro/2017/02/hudson-yards-tenants-006473

Read the press release here - http://www.pace.edu/sites/default/files/FINAL_RELEASE_NYC_MasterPlan.pdf

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