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Bloomberg: "How VW's Plan to Win America Backfired"

09/25/2015

Bloomberg: "How VW's Plan to Win America Backfired"

Photo: Martin Winterkorn. Photographer: Krisztian Bocsi/Bloomberg

. . . In his resignation statement on Wednesday, Winterkorn -- who has a reputation for obsessive attention to engineering details -- said he was "not aware of any wrongdoing on my part" and that he was "stunned" by the revelations.

Even if Winterkorn was unaware of the cheating, experts say it’s unlikely it could have been the work of only a few individuals. Emissions and mileage standards are a central component of car and engine design, affecting weight, performance, and price.

Intricate System

"The system is so intricate that it is totally impossible that there was not, up and down the line, knowledge of what they were doing," said John Alan James, a former consultant for automakers such as General Motors and Volvo who now chairs the corporate governance center at Pace University in New York.

Winterkorn is likely to have many more opportunities to practice his English as American prosecutors, regulators and lawyers round on Volkswagen. The Federal Bureau of Investigation has opened a criminal probe, and an investigation by the Environmental Protection Agency could result in as much as $18 billion in penalties. That’s before class-action suits, state-level investigations or cases brought by other federal agencies.

In July 2014 in Wolfsburg, the company town west of Berlin where Volkswagen has its headquarters, Winterkorn had spoken at length -- in German -- about his ambitions for the U.S. The occasion was the announcement of a new sport-utility vehicle to be built in Tennessee, "a true American car, big, attractive, and with lots of high-tech," as Winterkorn put it, that would capture the country’s attention.

A little over a year later, and for very different reasons, Volkswagen’s certainly got it.

Read more: http://www.bloomberg.com/news/articles/2015-09-25/how-vw-s-american-ambi...

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AACSB Videos Feature Dean Neil Braun Discussing Challenges and Opportunities for Business Schools

09/24/2015

AACSB Videos Feature Dean Neil Braun Discussing Challenges and Opportunities for Business Schools

Dean Braun spoke with AACSB about the necessity for innovation at business schools to prepare students for the competitive world they will face upon graduation. In addition to his many insights about the future of business education, he described Lubin's ever-growing opportunities for students through industry partnerships, academic competitions, interdisciplinary collaboration, Bloomberg Essentials and Advanced Excel training, and uniquely relevant academic program offerings.

View the videos.

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Marketplace: "Colorado court takes up local laws limiting fracking"

09/24/2015

Marketplace: "Colorado court takes up local laws limiting fracking"

. . . Many energy companies have sought to raise their safety standards and to cooperate with towns. Company officials often speak of acquiring a local “social license to operate.”

Yet it’s challenging to coordinate voluntary measures for the entire sector. The shale oil and gas industries are fragmented, represented by hundreds of firms. 

“There are a fair number of small and unsophisticated, and maybe irresponsible and rogue, companies,” said law professor John Nolon of Pace University in New York. “I think it’s very difficult to control the entire industry.”

Listen to the interview: http://www.marketplace.org/topics/sustainability/colorado-court-takes-local-laws-limiting-fracking

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New York Daily News: "Jurors for Bonanno mobster Vincent Asaro's trial must be unfamiliar with ‘Goodfellas,’ ‘The Godfather’ and other mob-centric titles"

09/22/2015

New York Daily News: "Jurors for Bonanno mobster Vincent Asaro's trial must be unfamiliar with ‘Goodfellas,’ ‘The Godfather’ and other mob-centric titles"

. . . Defense lawyer John Meringolo, who is also an adjunct professor at Pace University Law School, said any prospective juror who has seen the Martin Scorsese classic film should be barred from serving on the panel.

“It’s very rare for a crime to be depicted in a movie or a book before the trial is held,” Meringolo told the Daily News, also referring to the book “Wiseguys” by acclaimed journalist Nicholas Pileggi, which inspired the film.

Meringolo, who is not involved in the upcoming trial, said the gangland bloodbath depicted in the “Goodfellas” film in the aftermath of the Lufthansa robbery would be highly prejudicial to Asaro because he was not involved with killing any of the members of the crew.

Read more: http://www.nydailynews.com/new-york/vincent-asaro-trial-jurors-not-goodfellas-article-1.2364880

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E-Commerce Times: "Amazon Fans Fire's Flames"

09/22/2015

E-Commerce Times: "Amazon Fans Fire's Flames"

. . . Amazon is striking while the iron is hot, noted Larry Chiagouris, professor of marketing at Pace University's Lubin School of Business.

Shoppers have a high level of trust in Amazon, he said, referencing a yet-to-be-released study on millennial consumers and their habits, conducted by the Marketing Executives Networking Group.

More than half of respondents in both the millennials group and the 35-and-older group indicated they trusted Amazon more than any other major tech company, according to Chiagouris. About 17 percent of the millennials pointed to Google, about 12 percent to Apple, roughly 8 percent to Facebook, and about 5 percent indicated that Microsoft was the most trustworthy of the bunch.

"Amazon cannot be expected to remain so far ahead on the important trust factor forever, and they are doing what they can to exploit the trust advantage, which includes launching new products and services that will be more readily accepted today than ... a year or two from now," Chiagouris told the E-Commerce Times.

Read more: http://www.ecommercetimes.com/story/82510.html

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Associated Press: "Apple withdraws some China apps after malware found"

09/21/2015

Associated Press: "Apple withdraws some China apps after malware found"

. . . Hackers are increasingly looking for new ways to target mobile apps and devices, including iPhones, because they are so widely used by many consumers, added Darren Hayes, a cyber-security expert at Pace University in New York.

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Tribeca Trib: "Gaspard & Dancers"

09/21/2015

Tribeca Trib: "Gaspard & Dancers"

This weekend, a choreographer and native Haitian will bring to the stage a powerful and personal response to the devastating 2010 Haitian earthquake and its aftermath.

The Trilogy (“L’Esprit,” “Souke” and “Annatations”) created by Gaspard Louis, whose dance company, Gaspard & Dancers, is based in Durham, NC, will debut at Pace University’s Schimmel Center for Performing Arts.

- See more at: http://www.tribecatrib.com/content/gaspard-dancers#sthash.yZfQH31W.dpuf

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Compliance Week: "ACCA Report Highlights Cybersecurity Risks to Accountants"

09/21/2015

Compliance Week: "ACCA Report Highlights Cybersecurity Risks to Accountants"

. . . According to a report issued last week by ACCA USA, the U.S. arm of the Association of Chartered Certified Accountants, and Pace University, accountants must also be particularly vigilant in ensuring that "the sensitive personal and corporate financial information they handle is safe." Accountants need to be "at the forefront of cybersecurity," the ACCA USA report stated.

Read more: https://www.complianceweek.com/blogs/enforcement-action/acca-report-high...

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NY1: "Pace University Summit Addresses Cybersecurity Threats Facing Financial Institutions"

09/18/2015

NY1: "Pace University Summit Addresses Cybersecurity Threats Facing Financial Institutions"

A new report illustrates the increasing virtual threats against America's financial institutions.

The report was released at an annual cybercrime summit at Pace University, moderated by NY1's Annika Pergament.

The survey, conducted by Pace and The Association of Chartered Certified Accountants, found that 57 percent of top finance professionals felt their IT systems were well protected.

See the video: http://www.ny1.com/nyc/all-boroughs/news/2015/09/17/pace-university-summ...

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Accounting Today: "Cybersecurity Poses Challenge to Accountants"

09/18/2015

Accounting Today: "Cybersecurity Poses Challenge to Accountants"

Accountants need to be at the forefront of cybersecurity to safeguard the sensitive personal and corporate financial information they handle, according to a new report.

ACCA USA, the U.S. arm of the Association of Chartered Certified Accountants, and Pace University issued a report Thursday about how ACCA members are adapting to address cybercrime threats.

Read more: http://www.accountingtoday.com/news/firm-profession/cybersecurity-poses-...

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