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Westchester Magazine: "The Business Behind Westchester’s Nonprofits"

11/13/2014

Westchester Magazine: "The Business Behind Westchester’s Nonprofits"

. . . Impact investing (investments whose purpose is to generate both a financial return and a measurable social impact) is a related funding source that’s gaining popularity, notes Rebecca Tekula, executive director of Wilson Center for Social Entrepreneurship and an assistant professor at Pace University. “These are investments made by foundations and other institutional investors that support charitable activities but have a potential return of capital,” she explains. “Impact investing is a real game changer that goes beyond corporate responsibility.”

Tekula points out that foundations often sit on an endowment that is managed to protect or grow the principal while spending only the legally required 5 percent for charitable purposes (though Tekula notes most spend more than the required minimum). With impact investing, “we’re starting to see capital invested for social causes instead of purely monetary returns,” she says, noting that the potential is huge. “You’re talking about billions of dollars in Westchester. It’s money that lives in Westchester but doesn’t always work for Westchester,” she says. Foundations based in the county have $3 billion in assets, according to the economic impact study from Pace. The move by nonprofits to set up for-profit arms and benefit corporations will help them tap this funding.

Read more: http://www.westchestermagazine.com/914-INC/Q4-2014/The-Business-Behind-W...

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CNBC: "Next for banks: Layoffs, chat smackdown, more regs"

11/13/2014

CNBC: "Next for banks: Layoffs, chat smackdown, more regs"

For banks at the center of the recent foreign exchange investigation, paying the $3.4 billion in fines might be the easy part.

The aftermath, filled with more intense regulations and scrutiny as well as prospects of layoffs and continuing probes into their activity, make for an even murkier future, according to those familiar with the investigation and the ensuing fallout among the misbehaving institutions.

"This is really beginning to bite," said John Alan James, a professor at Pace University's School of Business and author of multiple books on corporate governance in the banking industry. "It's time for a pause."

James is an advocate of easing the pressure on banks, which have come under continued scrutiny since triggering the financial crisis of the past decade. He believes the regulatory burden not only hurts the banks themselves but also the broader economy as institutions remain reluctant to lend.

"You've got to really think about the impact that you're having through reduced loan capacity on the national economy," he said.

Read more: http://www.cnbc.com/id/102178243

 

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InsideCounsel: "Insider trading inquiries reportedly taking place regarding government employees"

11/07/2014

InsideCounsel: "Insider trading inquiries reportedly taking place regarding government employees"

. . . John James, chairman emeritus of Pace University’s Center for Global Governance, Reporting, and Regulation, told InsideCounsel, “This is an unusual move for [the] SEC to be investigating another government agency for possible ‘insider trading’ violations, unless they are talking with [the] DOJ [Department of Justice] about something else – that could be more serious.”

The investigations bring to mind how regulatory agencies have gotten “instructions” from ''above to expand their examination procedures to include what we in the governance field refer to as internal governance,” James added.

He explained that internal governance is the realm of the Board of Directors, and involves policies and procedures affecting non-regulated aspects of enterprises.

“Many of us have been unpleasantly surprised to see regulators dig into the ‘cultures’ of financial institutions,” James added. “As a long-time strategic planning advisor I am super-sensitive to the availability to anyone outside our board room knowing our own evaluations of our strengths and especially our weaknesses. As they say in New York City, ‘Does Macy’s tell Gimbles?’”

Read more: http://www.insidecounsel.com/2014/11/06/insider-trading-inquiries-reportedly-taking-place

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Forbes: "Accounting For The Glass Ceiling"

11/05/2014

Forbes: "Accounting For The Glass Ceiling"

Along with Pace University, IMA recently sponsored the first-ever Women’s Accounting Leadership Series (WALS), which gathered high-profile accounting and finance leaders to explore trends and topics important to the profession. One of the event’s creators was Leslie Seidman, the executive director of the Center for Excellence in Financial Reporting at Pace University’s Lubin School of Business and former FASB Chairman.

Read more: http://www.forbes.com/sites/jeffthomson/2014/11/04/accounting-for-the-glass-ceiling/

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Bloomberg BNA: "White House to Reveal Policy Goals For Lame-Duck Session in Days Ahead"

11/04/2014

Bloomberg BNA: "White House to Reveal Policy Goals For Lame-Duck Session in Days Ahead"

. . . David Caputo, president emeritus and professor of political science at Pace University in New York, told Bloomberg BNA that, assuming Republicans gain control of the Senate, there will be no major policy changes in the next two years.

“And even if they do not—even if we have a Biden majority, 50-50 where the Democrats retain full control—I think there's very little possibility that we'll get major policy decisions out of Congress,” Caputo said.

The vice president also is president of the Senate. In cases of a tie vote in the Senate, Vice President Joe Biden would cast the tie-breaking vote.

Caputo predicted Republicans will have a difficult time on getting any changes on several issues—such as immigration, health care, the economy and budget—because of the conservative base in the House, which will be difficult to move.

If the Republican majority in both chambers decided to eliminate the Affordable Care Act, for instance, either head-on or though budget cuts, they would run into difficulties, Caputo said.

If they tried to repeal it head on, the president would veto it, Caputo said.

“I don't think the Republicans will have two-thirds majority in either the House or the Senate to override that veto,” he said.

“And if they do it in the budget, then we're headed for a showdown and I don't think the president will blink,” Caputo said. “And I think the Republicans will get blamed for shutting the government down again,” he said.

Ability to Govern

There could be major policy changes, depending on what the president decides to do in terms of executive orders, Caputo said.

This would put Congress on the defensive in terms of arguing that the president has exceeded his powers, Caputo said.

“So that would also be very interesting to watch,” he said.

Budget issues also will be significant, Caputo said. Republicans in the House and Senate will use their majority status, assuming Republicans take control of the Senate, to push for a number of budget reforms, including a decline in domestic spending and an increase in defense spending, he said.

At that point, the president will be forced to either accept the changes or not, Caputo said.

“If he doesn't accept, if there's not agreement, then he won't sign the legislation and we'll go off the fiscal cliff—or we'll come close to going off the fiscal cliff,” he said.

Republicans do not want to be seen at this point, after having gained control of the government, as not being able to govern, Caputo said.

“So I think this is going to be a very interesting tap dance for them, in terms of trying to promote a policy agenda, which is seen as clearly Republican, [but] which remains acceptable to the president,” he said.

The president has an equal problem in that, if he wants to get anything through, he is going to have to make a series of compromises, which so far he has been unwilling to do, Caputo said.

“So I think what's going to happen is deadlock will continue, and I think it sets the stage for 2016 on these issues,” Caputo said.

Read more: http://dailyreport.bna.com/drpt/7010/split_display.adp?fedfid=58518415&v...

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Direct Marketing News: "Publicis to Buy Sapient, Create 'Transformational' Digital Platform"

11/04/2014

Direct Marketing News: "Publicis to Buy Sapient, Create 'Transformational' Digital Platform"

. . . Publicis immediately announced plans to introduce Publicis.Sapient, a platform merging communications, marketing, commerce, and technology components. A combined effort of Sapient and current Publicis units DigitasLBi, Razorfish, and Rosetta, Publicis.Sapient aims to deliver “transformational services to clients through a model that has unmatched reach and capabilities,”the company boasted in a press release.

But that remains to be seen, says Larry Chiagouris, former chairman of the Advertising Research Foundation. “It has the potential to enhance the already well-established digital portfolio continuing to be developed at Publicis; however, there will be many major obstacles in making a Publicis-Sapient entity work,” said Chiagouris, a professor of marketing at Pace University. “These are companies that have operated in very different sectors and it remains to be seen whether any hoped-for synergy can ever grow to become a substantial source of new revenue for either Publicis or Sapient."

Read more: http://www.dmnews.com/publicis-to-buy-sapient-create-transformational-digital-platform/article/380732/

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National Journal: "One Millennial's Answer to Political Apathy: Put College Students in Classrooms"

11/03/2014

National Journal: "One Millennial's Answer to Political Apathy: Put College Students in Classrooms"

Failure is a powerful icebreaker, so Pace University sophomore Nelli Agbulos opens her presentation to a group of high school seniors by telling them about an unsuccessful protest that she recently planned for her campus. Six people came.

"I told all my friends to come, and nobody showed up," she says.

"Then you've got messed-up friends," one of the seniors retorts.

Sure enough, the anecdote gets the class talking. How do you make sure people know about an event? How do you communicate to them that their presence is important? One student suggests getting the football team to sponsor it. Another says teachers should give extra credit for attendance. Posters. Twitter. P.A. announcements. The class is buzzing.

Agbulos isn't much older than the kids in the government class she teaches twice a week at the Franklin Delano Roosevelt High School in Brooklyn. She isn't paid and doesn't get school credit for her time. She has no teacher training. What she does have is these students' attention. They identify with her and sympathize with her plight in a way that they don't with their teacher, Eric Cortes, who hangs out in the back and keeps order.

Read more: http://www.nationaljournal.com/next-economy/solutions-bank/one-millennial-s-answer-to-political-apathy-put-college-students-in-classrooms-20141031

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SC Magazine: "Safe tether: Wearables"

11/03/2014

SC Magazine: "Safe tether: Wearables"

. . . Darren Hayes, assistant professor and director of cybersecurity at Pace University, says while the Snowden revelations have heightened awareness of U.S. government spying, it is by no means just within these borders. France and Spain are very active in phone surveillance and even tracking visitor's highway travel. He points out that many vulnerabilities, including some of the biggest, are connected to governments or government-sponsored hackers. “When you travel to a country like China or Russia, very likely the quick inspection of your laptop or phone conducted at the airport is actually an imaging of the device using special hardware,” he says

Some hardware should also be suspect, including some computer and telecommunication products manufactured in China, most likely with the complicity of the People's Liberation Army. “Most western governments won't use Lenovo laptops, for example, and they may be right,” says Hayes. Other similar perils potentially afflicting users, mobile or not, are the use of free anti-virus software. For example, Hayes says the free version of Kaspersky should be adopted with caution because “there is reason to believe the company is backed by the Russian government,” he says.

Finally, there are now known vulnerabilities with devices such as Cisco routers and with certain encryption algorithms. Another persistent issue is Heartbleed – the security bug in the OpenSSL cryptography library, which still has wide impacts. 

Although Hayes does not yet see threat vectors involving wearable technologies, he does see Bluetooth as a continuing source of concern and says it should be a point of focus for security efforts. “Bluetooth 4.0 allows you to be monitored by beacons that are used for commercial purposes, for example by retailers to offer special deals. However, that can also be used to track the movement of people,” he explains.

Steps to take

Hayes says there are some specific steps organizations can take now to protect themselves and their mobile workers. One of them is adopting Pretty Good Privacy (PGP) data encryption and decryption software to provide cryptographic privacy and authentication for data communication – or the similar GNU Privacy Guard (GPG), which is a  free version of the OpenPGP standard. It may not solve all of the road warrior problems but it is a good start, he notes.

Additionally, Hayes suggests adopting some of the secure tools increasingly adopted by journalists, including SecureDrop, an open-source software platform for secure communication originally designed and developed by Aaron Swartz and Kevin Poulsen under the name DeadDrop.

Bluetooth, however, remains problematic. “I recommend that organizations encourage people to disable Bluetooth,” says Hayes. And never use “free” anything. USBs handed out as tchotchkes at tradeshows often contain problematic programs if not actual malware. 

“I don't even trust some of the supposedly legitimate free apps because they can also make use of your machine in ways you don't expect,” adds Hayes. “Any company that claims to be concerned about a secure infrastructure has to pay attention to these issues if it is going to protect its business travelers,” he adds. 

Read more: http://www.scmagazine.com/safe-tether-wearables/article/377733/2/

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Westchester County Business Journal: "Pace, Media Storm announce master’s program in social media"

10/31/2014

Westchester County Business Journal: "Pace, Media Storm announce master’s program in social media"

Business success often results from finding a gap in the market.

Pace University’s Lubin School of Business believes its newest program will fill a gap in the business education market. Last week, the school announced its new master’s degree program in social media and mobile marketing that will be co-branded with Media Storm, the second-largest independent media planning and buying agency in the U.S.

“Social media and mobile technology have fundamentally transformed our culture,” said Jon Cropper, the resident futurist at Media Storm. “In the last five or six years, the power structure has shifted. In the past, tastemakers decided what people wanted and pushed content to them, but now consumers create their own content with more relevance and intimacy than the content creators.”

Cropper said the gap that exists between business school education and modern marketing techniques is unique.

“Education hasn’t kept up with social media,” Cropper said. “A textbook on social media is almost an oxymoron, because the landscape of social media is constantly changing, while a traditional textbook refreshes every three years.”

According Lubin School of Business Dean Neil Braun, that gap — between what students learned about social and mobile media and what they really need to know — has been noticed in business circles.

“It’s a big topic of conversation,” Braun told the Business Journal. “Our model (for this program) is different. Pace has control of the curriculum and Media Storm provides integrated experiences for our students.”

Read more: http://westfaironline.com/66841/pace-media-storm-announce-masters-progra...

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American Banker: "How Banks Can Step Up to Bat on Cybersecurity"

10/29/2014

American Banker: "How Banks Can Step Up to Bat on Cybersecurity"

The United States is losing the war on cyberhacking, writes James Gabberty, a professor of information systems at Pace University in New York City and consultant to the information security industry. If there was any doubt beforehand, the recent revelation that hackers broke into JPMorgan Chase's systems this summer, compromising the personal information of 76 million households and seven million businesses, should be proof.

Read more: http://www.americanbanker.com/bankthink/how-banks-can-step-up-to-bat-on-cybersecurity-1070900-1.html

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