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Westchester County Business Journal: "Pace students win College Federal Reserve Challenge"

12/18/2014

Westchester County Business Journal: "Pace students win College Federal Reserve Challenge"

A group of Pace University students won a major academic competition that tested their economic knowledge earlier this month.

Pace defeated Princeton University, and, with honorable mentions, Bentley University, the University of Chicago and the University of North Carolina at Chapel Hill, to win the 11th annual national College Federal Reserve Challenge. The competition evaluates the teams’ understanding of the U.S. economy, monetary policymaking and the role of the Federal Reserve System.

Read more: http://westfaironline.com/68027/pace-students-win-college-federal-reserve-challenge/

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Business Insider: "Pace University's National Champion Monetary Policy Team Predicts The Fed's Next Move"

12/18/2014

Business Insider: "Pace University's National Champion Monetary Policy Team Predicts The Fed's Next Move"

The Pace Outlook

The Pace team — which beat teams from Princeton and University of Chicago — notes that the phrase "considerable time" might be giving the market unclear signaling. But they warn if the phrase goes away completely the market will be completely directionless.

But as the Pace team sees it, "if 'considerable time' is taken out of the statement, then the June 2015 meeting gets targeted," as the first time the Fed would raise rates, which for Pace strips the Fed of the policy flexibility it's been seeking to maintain. 

And if the Fed were targeting June 2015 on its own, leaving "considerable time" in the statement would still be appropriate, Pace said. 

As part of its championship-winning policy recommendations, Pace suggested the Fed stress data dependency in its forward guidance. Additionally, Pace recommended that the Fed hold a press conference which each policy announcement, as the market currently expects the Fed would only raise interest rates at a meeting that is followed by a press conference from chair Yellen. 

Press conference meetings, however, are only held four times a year: in March, June, September, and December. 

And as the Pace team said, "You can't be data dependent if you can only start to raise rates four times a year." 

 

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The Hill's Congress Blog: "Sandy Hook, two years later: Steps we must take"

12/17/2014

The Hill's Congress Blog: "Sandy Hook, two years later: Steps we must take"

The recently released report by Connecticut’s Office of the Child Advocate describes a trajectory toward unimaginable tragedy – lost lives of twenty young children and those of the educators who tried to protect them two years ago on December 14th, writes Andrea Spencer, dean of Pace University’s School of Education, an educational consultant to the Center for Children’s Advocacy and co-author of “Shooting At Sandy Hook Elementary School.” Investigation of this trajectory was commissioned by Connecticut’s Child Fatality Review Panel, conducted by experts from psychology, psychiatry, social work, education and advocacy. The result is a document that details the life of AL, the perpetrator of the Sandy Hook shootings. Amidst a welter of informational sources, the panel struggled to comprehend and then to communicate the complexities of systems failures that emerged. These failures left untreated a desperately damaged and severely mentally ill individual who brought about unparalleled devastation in the lives of school, families and the Newtown community. What remedies might diminish the potential for similar disasters? The report provides many important recommendations. However, among these, school records were one key source of insights into the circumstances and lost opportunities that defined AL’s withdrawal into isolation and violence. From an educational perspective, what lessons might be learned?  

Read more: http://thehill.com/blogs/congress-blog/education/227314-sandy-hook-two-years-later-steps-we-must-take

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NPR's All Things Considered: "Two Years Later, Still Learning From Sandy Hook"

12/17/2014

NPR's All Things Considered: "Two Years Later, Still Learning From Sandy Hook"

. . . Andrea Spencer, dean of the School of Education at Pace University and one of the co-authors of the child advocate's report, says the schools focused only on his academics and not on the depth of his disabilities.

"It appears to me from what we know that Adam was one of those students who slid beneath the radar in terms of his very serious social, emotional needs," she says.

That slide should be a real concern for anyone who deals with children, Spencer says.

"I guess the lesson that occurs to me is that we have to get and support a broader perspective on children's needs as part of schools, classrooms, teachers, administrators," she says. "Everyone needs to be more cognizant of the social/emotional aspects of children's development."

 

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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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Wall Street Journal: "Grand Jury’s Work Done, but Probes Into Chokehold Case Continue"

12/04/2014

Wall Street Journal: "Grand Jury’s Work Done, but Probes Into Chokehold Case Continue"

 . . . “One of the most difficult challenges to indicting police officers in wrongful death cases is that the DA is also the same DA who works with these police officers every day in the prosecution of other crimes,” said Randolph M. McLaughlin, a professor at the Pace University School of Law. “I think there is an institutional conflict of interest.”

Mr. McLaughlin said he hoped Mr. Donovan would seek to have as much information released about the grand jury proceedings as possible.

Read more: http://online.wsj.com/articles/grand-jurys-work-done-but-probes-into-chockhold-case-continue-1417661628

 

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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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