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BizEd: "Big Ideas on Campus"

12/15/2014

BizEd: "Big Ideas on Campus"

. . . Students are responsible for running three different businesses at Pace University’s Lubin School of Business in New York City, all three overseen by the university’s Center for Student Enterprise.

• The Pace Perk Café, founded in April 2010 by two students, is a late-night café spot open from 9 p.m. to 1 a.m. Ten student managers run the business, which employs 13 students and had sales of $125,000 in 2013. With retained earnings of more than $20,000, the Perk was able to make a $5,000 loan to the newest student-run business, Pace Mart, for startup funds.

The Perk also serves as a learning lab for other students: Last fall, a graduate auditing class did an audit of the Perk, which provided valuable insights to both the graduate students and the student managers of the Perk.

• Pace Connect is a student-run call center that works on behalf of university clients. When it was founded in the fall of 2012, it contacted alumni to raise money for the Pace Annual Fund; within a year, it was also contacting graduates on behalf of Pace Career Services to collect information about alumni jobs. It now also makes calls for the Office of Student Assistance to help current students set up payment plans for past-due balances; the Office of Student Success to identify second-semester freshmen who are having problems or considering not returning to Pace; and the Office of Enrollment to invite admitted students to attend preview events.

A team of four student managers runs the business, which employs 20 students. The center operates out of an accounting classroom, using Skype to make calls and SalesForce.com to track data. The business had revenues of $26,000 this year and has retained earnings of about $2,000.

• The newest operation, Pace Mart, is a convenience store run by eight students who negotiated with Pace Administration to plan the enterprise. They’re working with a new type of student account called Dawg dollars that will allow students to use their swipe cards to make purchases. The store was piloted in April in a small area of the school library, but a full store was planned for the fall; it will employ at least 20 students and be open eight hours a day.

Read more: http://www.bizedmagazine.com/features/articles/big-ideas-on-campus.asp

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

12/15/2014

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

A new cycle of this professional regulatory certification commences in January, available in both "in-person" and "online" modes with concurrent New York State CPE credit.  This industry recognized program provides a unique framework encompassing the integration of compliance/risk management/corporate governance with business strategy.

New York, NY – December 15, 2014 — Today’s regulatory environment is ultra-complex and rapidly evolving, with voluminous new regulations being issued at an unprecedented pace. The Center for Global Governance, Reporting and Regulation at Pace University and the Association of International Bank Auditors announce a new seventh cycle of the Certified Compliance and Regulatory Professional (CCRP®) certificate program.  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 new cycle begins Tuesday evening January 13, 2015 and continues to July 7, 2015.  Classes will be held on Tuesday evenings at Pace University’s Midtown Center in the historic Fred French Building at 551 Fifth Avenue between 45th and 46th Streets, with concurrent online synchronous ("live") participation.  A taped version will also be available for asynchronous "after the class" viewing.  Thus, this program is now also available to professionals whose work schedules preclude commuting to Pace's Midtown Center, making the CCRP® professional certification accessible to national and global audiences.   The CCRP® at Pace has also recently been approved for Continuing Professional Education (CPE) credit by New York State.

The CCRP® is designed to develop the critically important proficiencies essential for today’s professionals to distinguish themselves in this challenging regulatory and business environment.  It provides intense and in-depth exposure to key aspects of governance, risk management, regulatory strategy, and relevant regulations.   Faculty includes both Pace professors as well as subject matter experts drawn from world's leading financial institutions, professional organizations and regulators.  The sessions include detailed discussions of current compliance and regulatory issues (including AML, OFAC, Dodd Frank, Basel III, etc.), and examinations of real-life case studies. Team presentations provide experience in applying coursework to actual business problems.  CCRP® certificate holders include professionals from domestic and international banks, "non-banks" (brokerages, asset managers, credit unions, etc.) and professional services (accounting, law, consulting) firms.

“This new CCRP® cycle has been enhanced with two features --- a complementary online offering to enable participation by geographically broader audiences, and the ability for participants to concurrently earn New York State continuing professional education (CPE) credits," says Robert J. Chersi, the former CFO of Fidelity Investments who is the Executive Director of the Center at Pace’s Lubin School of Business.  "These new features will be valuable to participants seeking to augment their professional skills."

The Center also has expanded its other professional development offerings, including “boot camps” that can be customized to an institution’s desired location, topics, and duration, as well as on-line videos and eBooks that enable distance learning.

More information about the CCRP® program is available at www.pace.edu/ccrp, and for all of the Center's programs at http://www.pace.edu/lubin/departments-and-research-centers/center-for-global-governance-reporting-and-regulation, or by contacting the Center’s Chairman Emeritus Jack James at jjames@pace.edu or Executive Director Bob Chersi at rchersi@pace.edu.

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

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Institutional Investor: "Deals of the Year 2014: Facebook's Data-Driven Takeover of WhatsApp"

12/11/2014

Institutional Investor: "Deals of the Year 2014: Facebook's Data-Driven Takeover of WhatsApp"

. . . Snapping up a player like WhatsApp, whose user base has exploded to about 500 million since it launched its app in 2009, yields an advantage, at least temporarily, says Darren Hayes, a professor at Pace University’s Seidenberg School of Computer Science and Information Systems, in New York. "A lot of companies are looking to expand and get more information that they can sell to third parties," adds the former investment banker.

Read more: http://www.institutionalinvestor.com/article/3409120/banking-and-capital-markets-corporations/deals-of-the-year-2014-facebooks-data-driven-takeover-of-whatsapp.html#.VIi09ZxGt1w

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Pace University Wins 11th Annual National College Federal Reserve Board Challenge

12/04/2014

Pace University Wins 11th Annual National College Federal Reserve Board Challenge

Experiential Learning Drives Victory As Pace Bests Princeton and U of Chicago In Nationwide Competition

Photo caption: (left to right) Lauren Price, Professor Anna Shostya, Yulia Mikhailova, Professor Gregory Colman, Kelsey Berro, Katherine Craig, Jordan Jhamb, Federal Reserve Chair Janet Yellen, Professor Joseph Morreale

Pace University won the 11th annual national College Federal Reserve Challenge on Tuesday, a competition that  tests students’ understanding of the U.S. economy, monetary policymaking, and the role of the Federal Reserve System.

The finals were held in Washington, D.C. as the capstone to five district competitions held around the country. Undergraduate teams competed in their local Reserve Bank Districts, and top teams moved on to the finals. The other national finalists were second-place Princeton University, and, with honorable mentions, Bentley University, the University of Chicago, and the University of North Carolina at Chapel Hill. The Pace University team had placed first in the semi-final New York regional competition, ahead of 35 other teams in the region. Pace’s win was the first for the NY Fed District in the history of the College Fed Challenge.

The Pace Team represented the New York Federal Reserve District and included Dyson College Economics majors Kelsey Berro (co-captain), Jordan Jhamb (co-captain), Julia Mikhailova, Katherine Craig, Lauren Price, and Daniella Gambino. The team was coached by Economics professors Mark Weinstock, Gregory Colman, and Anna Shostya, faculty members from the Department of Economics in the Dyson College of Arts and Sciences at Pace’s New York City campus. Berro and her professors have been part of winning College Fed Challenge teams since 2012, when Pace first won the New York District challenge and advanced to the national level.

Participating teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeled on the work of the Federal Open Market Committee.  Teams competing in the finals gave 15-minute presentations and answered questions for a panel of senior Federal Reserve officials.

"Students' participation in the Fed Challenge adds to their understanding of the economy and the Federal Reserve's role, and, I hope, spurs some students to pursue further study of economics and finance. In addition, the research, analytical, and communication skills that participants gain through their preparations will help them in whatever careers they choose," said Federal Reserve Board Chair Janet L. Yellen.

“Our students demonstrated the quality, hard work and commitment to success that characterizes education at Pace,” President Stephen J. Friedman said. “This victory graphically illustrates the competitive advantage and professional experience offered to students who choose the Pace Path. The result is a group of students who are more effective at graduation; they understand how to deal with major challenges and achieve long-term career success.”

About Pace University: Since 1906, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the opportunities for professional experiences offered by the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. www.pace.edu

Contact: Cara Cea, ccea@pace.edu, 914-906-9680

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Associated Press: "Security Experts Doubt North Korea Hacked Sony"

12/03/2014

Associated Press: "Security Experts Doubt North Korea Hacked Sony"

. . . It would be unusual if North Korea was behind the breach, said Darren Hayes, director of cybersecurity at Pace University's computer science school.

"However, there are numerous hackers for hire" in some of the shadowy corners of the Internet, he said. "If Kim Jong Un has developed his own rank-and-file cyberattack unit, with sophisticated capabilities, then we should be very concerned."

Read more: http://abcnews.go.com/Technology/wireStory/security-experts-doubt-north-korea-hacked-sony-27317398

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China Daily: "Chinese culture inspiration for students"

12/02/2014

China Daily: "Chinese culture inspiration for students"

Members of the Pace University Confucius Institute and the New York Chinese Opera Society (NYCOS) award two students with cash prizes on Monday at Pace University in New York for their submissions to the Fourth Annual NYCOS Essay Competition. Julieth Saenz (fourth from left) and Elizabeth Delaney (fourth from right), both seniors at Pace University, took home the first- and third-place prizes, respectively. Jack Freifelder/ China Daily.

Read more: http://usa.chinadaily.com.cn/world/2014-12/02/content_19007449.htm

 

 

 

 

 

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Westchester County Business Journal: "Investing in Westchester’s biotech surge"

12/02/2014

Westchester County Business Journal: "Investing in Westchester’s biotech surge"

. . . “The literature shows that $30 is the sweet spot, meaning that there’s an optimal mix of retail and institutional investors,” said Padma Kadiyala, a professor of finance at Pace University’s Lubin School of Business. “As share price goes up, the number of investors that can afford to buy shares of the stock goes down. It’s harder for mom and pop to invest in stocks with share prices over $100.”

Kadiyala explained that shares of stock trading between $30 and $100, such as Acorda, are more liquid than stocks trading at higher prices, such as Regeneron. Because those shares are more liquid, they also get more attention and coverage from securities analysts, who examine corporate financial data to determine investment risk. And because there is more analysis of the stocks for investors to peruse, it’s easier, at least in theory, for them to make a determination.

Read more: http://westfaironline.com/67541/investing-in-westchesters-biotech-surge/

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The Hill's Congress Blog: "Tax reform Frank Capra style"

12/01/2014

The Hill's Congress Blog: "Tax reform Frank Capra style"

With Republicans taking control of the Senate there has been talk of tax reform as a potential area where the Obama administration and the Republican controlled Congress can agree, writes Philip G. Cohen, associate professor of Taxation at Pace University's Lubin School of Business and a retired vice president-Tax & General Tax Counsel at Unilever United States, Inc.  There is a widespread view that the Internal Revenue Code is in need of reform. Previous efforts at tax reform by Congress, however, have created a complex, inefficient and inequitable federal tax system.  

While past tax acts often are replete with reference to "tax reform" or nomenclature like "jobs creation," they generally serve neither to truly reform the tax system or create many American jobs. One must therefore be wary of tax reform that would continue this pattern. Imagine, however, if the next round of tax reform were crafted by those who embody the ideals of Senator Jefferson Smith, portrayed by Jimmy Stewart, in the 1939 movie classic directed by Frank Capra, "Mr. Smith Goes to Washington."  

Read more: http://thehill.com/blogs/congress-blog/economy-budget/225410-tax-reform-frank-capra-style

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Connecticut Post: "Child advocate's Sandy Hook report expected to affect recommendations for troubled kids"

12/01/2014

Connecticut Post: "Child advocate's Sandy Hook report expected to affect recommendations for troubled kids"

While the state Office of the Child Advocate's bombshell report presented many new details about the troubled, rage-filled life of the Sandy Hook Elementary School shooter, recommendations for screening, identifying and treating troubled children will be challenges for years to come.

The 141-page report released Friday will play a large role in the upcoming final proposals being prepared by the governor's Sandy Hook Advisory Commission.

"I am not sure of the total value of looking backward at Adam Lanza," said Hamden Mayor Scott Jackson, chairman of the advisory commission, which will present its suggestions in late December or January.

"But the way the report is broken out, there are specific recommendations, and that's what we're looking for," Jackson said in a phone interview. "The child advocate and the writing group had information that we did not have. To the extent that we can endorse them or flesh them out will be our top priority over the next weeks."

The report promotes early insurance-eligible examinations and screening for children as young as infants; better programming for developmentally disabled schoolchildren; more support and expertise for school-based programming; and better oversight of education and treatment plans for children who are homebound after being found unsuitable for classroom instruction.

"The purpose of this report is to understand the developmental trajectory," Child Advocate Sarah Healy Eagan told reporters during an online news conference Friday. "There is much to learn and much to take away. Children's wellness is inextricably bound with their families. Children's health does not exist in a vacuum, and until we can provide that fairly focused, multidisciplinary support for children with special needs, we will always have children fall through the cracks."

With input from other contributors, the long-awaited report was created by Eagan, Assistant Child Advocate Faith VosWinkel; Julian D. Ford, a psychiatrist at the Center for Trauma Recovery and the Juvenile Justice University of Connecticut Health Center; Christopher Lyddy, a former state representative from Newtown, chief operating officer of Advanced Trauma Solutions Inc.; Dr. Harold I. Schwartz, psychiatrist-in-chief at Hartford Hospital's Institute of Living; and Andrea Spencer, dean of the Pace University School of Education.

Both Lyddy and Schwartz served on the 16-member Sandy Hook commission.

Lyddy said the in-depth study of shooter Adam Lanza's medical and mental health evolution and ultimate descent into homicidal rage, creates a map of pitfalls and opportunities for doctors, educators and parents.

"The real learners here are the system, the mental health system," Lyddy said during the news conference. "The system needs to understand that parents deal with significant stress, sometimes debilitating stress, in dealing with children with special needs."

Ford said when Lanza was 14, the Yale Child Study Center offered a course of medical treatment and special education and therapeutic supports. It was rejected by his mother, Nancy Lanza, whom six years later the shooter murdered with four shots from a .22 rifle in her bed before driving to the school with her assault-style rifle and several large-capacity ammunition magazines and murdering 20 first-graders and six adults.

"She was trying to keep him sheltered in many ways," Lyddy said.

Schwartz told reporters Lanza's "virtual social isolation" did him no good. "Rather than being withdrawn, they should be required to face it," Schwartz said, charging so-called homebound status -- as opposed to home-schooling where parents and guardians adhere to stricter education plans -- was part of a larger, harmful pattern for Lanza. "The capitulation of a needy child ultimately limits the horizons of that person."

"There is very limited monitoring and essentially no education services," said Spencer of homebound children. "He was losing a sense of contact with people as human beings."

Read more: http://www.ctpost.com/local/article/Child-advocate-s-Sandy-Hook-report-expected-to-5913269.php

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Bloomberg BNA: "Increase in Risk Complexity Impacting Board Strategy, Recruitment, Panelists Say"

11/24/2014

Bloomberg BNA: "Increase in Risk Complexity Impacting Board Strategy, Recruitment, Panelists Say"

. . . Robert Chersi, executive director of the Center for Global Governance, Reporting and Regulation at Pace University's Lubin School of Business, noted that recent studies have shown certain aspects of board composition have changed over the last 10 years. For example, he explained that while, on average, board size, board turnover rate and board member age have remained relatively the same, other changes have occurred that could have an impact on governance issues.

Two of the changes that he highlighted were an increase in companies with lead directors taking on powerful roles and in companies with specialist directors on their boards.

He observed that while much has been written and spoken about regarding splitting the roles of CEO and chairman, not much has changed in this area of board composition. According to Chersi, the emerging role of lead director has been the “antidote” for many corporations, instead of splitting the roles of chairman and CEO.

Read more: http://www.bna.com/increase-risk-complexity-n17179912492/

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