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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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Journal News: "Ferguson: Prosecutor's actions 'peculiar,' Pace professor says"

12/01/2014

Journal News: "Ferguson: Prosecutor's actions 'peculiar,' Pace professor says"

New York state chief judge Sol Wachtler once said if a district attorney wanted, a grand jury would indict a ham sandwich.

Grand juries, Wachtler argued, serve the prosecutor and give the prosecutor what the prosecutor wants.

When St. Louis County, Missouri, Prosecuting Attorney Robert McCulloch announced Monday that Ferguson Police Officer Darren Wilson would not be indicted in the death of 18-year-old Michael Brown, and then released all of the grand jury's documents and testimony, it raised a barrage of questions.

Bennett Gershman, a White Plains lawyer and Pace University law professor, has spent years in front of city and federal grand juries, in cases as celebrated as Frank Serpico's Knapp Commission fallout and "The French Connection." In the years since, he has studied grand juries.

He has questions.

"The question is: 'Is it unusual or unprecedented for the grand jury material to be released as quickly as it was and for the prosecutor to be making statements about the subject matter of the grand jury investigation? In both scores, I feel it is extremely unusual. I can't say unprecedented, because we're talking about thousands and thousands of grand jury cases.

Read more: http://www.lohud.com/story/news/local/2014/11/25/ferguson-prosecutor-act...

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USA Today: "Grand jury charges are easy, except against police"

12/01/2014

USA Today: "Grand jury charges are easy, except against police"

. . . "People do not want to believe officers do bad things," said Randolph McLaughlin, a law professor at Pace University in New York and a trial lawyer who has handled wrongful death cases against police. "Society gives them the benefit of the doubt. ... It's very difficult to indict a police officer."

Read more: http://www.usatoday.com/story/news/nation/2014/11/25/ferguson-grand-jury/70098616/

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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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The Hill's Congress Blog: "Lessons learned from Japan’s failed economic policies"

11/21/2014

The Hill's Congress Blog: "Lessons learned from Japan’s failed economic policies"

For nearly twenty years, Japan has been trying to counter stagnation with near zero interest rates and enormous government expenditures using large additions to Japan’s national debt, writes Robert G. Vambery, a professor at Pace University’s Lubin School of Business. The Abe administration’s plan of government expenditures combined with the Bank of Japan’s additional quantitative easing is more of the same, just on a larger scale.

Read more: http://thehill.com/blogs/congress-blog/economy-budget/224929-lessons-learned-from-japans-failed-economic-policies

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Richmond Times-Dispatch: "Law and precedent are on Obama's side, legal experts say"

11/21/2014

Richmond Times-Dispatch: "Law and precedent are on Obama's side, legal experts say"

. . . Christopher Malone, a professor of political science at Pace University in New York, said that the president’s announcement could also be viewed as an attempt to change the narrative coming out of the disastrous 2014 midterm elections for the Democratic Party.

“It will certainly further poison the well with the new Republican majority in Congress. But frankly, Obama had nothing to lose in that regard. Either way, it is a foregone conclusion that he will be hamstrung by Republicans in the last two years of his presidency,” Malone said.

“With the announcement, Obama gives an utterly demoralized Democratic Party base something to fight for, something to hope for, and something to mobilize around going into the 2016 election,” he said.

Read more: http://www.timesdispatch.com/news/state-regional/virginia-politics/law-and-precedent-are-on-obama-s-side-legal-experts/article_494acde2-6343-5e20-8705-55ca69044fc9.html

 

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