Don’t Be Afraid to Publish in Cyberspace, Pace University Professor Says

“Magazine publishers who are afraid to go cyber because they
might risk giving away their content, misunderstand the benefits of
doing business online,” says Alan Eisner, professor of management at
Pace University Lubin School of Business. “Cyber publishing is not
about newsstand sales. It’s about attracting more customers and
generating greater advertising revenue. It’s about converting
online users to subscribers and creating opportunities to reach
new and existing readers and advertisers in different ways.”
Eisner, along with Quintus Jett, Rice University, and Helaine
Korn, Baruch College conducted a recent study comparing
characteristics and roles of 114 randomly selected online
publications.

Contact: Public Affairs
(212) 346-1696
News@Pace.Edu
NEW YORK – “Magazine publishers who are afraid to go cyber because they
might risk giving away their content, misunderstand the benefits of
doing business online,” says Alan Eisner, professor of management at
Pace University Lubin School of Business. “Cyber publishing is not
about newsstand sales. It’s about attracting more customers and
generating greater advertising revenue. It’s about converting
online users to subscribers and creating opportunities to reach
new and existing readers and advertisers in different ways.”
Eisner, along with Quintus Jett, Rice University, and Helaine
Korn, Baruch College conducted a recent study comparing
characteristics and roles of 114 randomly selected online
publications.

Researchers compared newcomer, online-only entrants
(including Salon, Sludge Report, and thestreet.com) with
cyber versions of incumbent, print publications (including
The New York Times, The New York Post, and The Wall Street
Journal). “Newcomer” webzine entrants were found to be
ground-breaking, include original content and feature
innovative layout design. However, “incumbents”
generated greater revenue than newcomers. “Incumbents”
had strong ideas about what they wanted to accomplish
due to strong business plans and these publications
possessed legitimacy in the minds of potential readers
and advertisers.

Scores of online publications enter the realm of
cyber-publishing everyday. “But, don’t worry because
the newspaper as we know it is never going to disappear.
People want something to read on the train, or at the
morning breakfast table and that won’t change for
eons,” states Eisner.

Pace is a comprehensive, independent University with
campuses in New York City and Westchester County. Nearly
14,000 students are enrolled in undergraduate, graduate
and professional degree programs in the Dyson College of
Arts and Sciences, Lubin School of Business, School of
Computer Science and Information Systems, School of
Education, School of Law, Lienhard School of Nursing and
the World Trade Institute.

Tipsheet: Stocks or Bonds? How to Decide Which is Better for You

Worries plague “new” investors. Recently flush with cash from their investments and the long-running bull market, young inexperienced stock market players are besieged with anxieties about the inevitable market crash, the Asian crisis, and the loss of their gains. In order to sleep at night, more and more investors are choosing to invest their money in bonds to circumvent fears of “hitting bottom” in the stock market. When making the decision to invest in stocks or bonds, consider information from Professor P.V. Viswanath of the Pace University’s Lubin School of Business.

Contact: Public Affairs
(212) 346-1696
PLEASANTVILLE, N.Y. —
Tips from Pace University’s Lubin School of Business

Worries plague “new” investors. Recently flush with cash from their investments and the long-running bull market, young inexperienced stock market players are besieged with anxieties about the inevitable market crash, the Asian crisis, and the loss of their gains. In order to sleep at night, more and more investors are choosing to invest their money in bonds to circumvent fears of “hitting bottom” in the stock market. When making the decision to invest in stocks or bonds, consider the following information from Professor P.V. Viswanath, Pace University’s Lubin School of Business:

I understand what a stock is, but what is a bond? Are there different types besides the Treasury bond?

    Bonds are securities that represent loans made either to the US Government (Treasury bonds or T-bonds), local or state governments (municipal bonds) or to corporations (corporate bonds). T-bonds are free of default risk, i.e., it is almost certain that the principal lent to the US Government will be repaid, and that the interest payments (coupons) will be made on time. However, if the bonds are not held until maturity, their value can go up or down as interest rates fluctuate. Corporate bonds do have default risk, but the amount of risk depends very much on the characteristics of the issuers.

  1. If you are investing for just a few years, do you invest in stocks or bonds?

If you are investing for just a few years, bonds provide much more safety. In addition, it is possible to choose bonds of the appropriate maturity, so that interest rate risk is minimized. If you want to minimize down-side risk, then you should invest much more in bonds than in stocks.

3) I am in my thirties, do I invest in stocks or bonds? Why?

The average return on bonds, particularly T-bonds is very low, compared to that on US equities. Long-term T-bonds have yielded an average of 5.35% from 1926 to 1993, while the average return on the Standard and Poor’s Composite Index over the same period was 12.31%. Inflation over the same period was 3.23% on average. This means that long-term bonds barely provided a 2% return over inflation, while equities provided about 9% over inflation. Although the year to year variation in returns is much higher for bonds than for stocks, the variation in returns over 20-year periods is actually smaller for stocks than for bonds. Hence, anybody investing for the long-run should probably invest a sizeable portion of their wealth in stocks, provided that the portfolio is well diversified.

  1. Are bonds subject to the same market fluctuations as stocks? Stocks are subject to two kinds of market fluctuations: one, fluctuations in earnings, and two, fluctuations in interest rates, i.e. fluctuations in the value of money. Bonds, on the other hand (at least, T-bonds), are subject only to fluctuations in interest rates. However, there are empirical relationships between the level of business activity and interest rates, which vary over the business cycle. Hence, T-bonds will also be indirectly affected by fluctuations in corporate earnings, through their effect on interest rates.

  2. What are “emerging-market bonds”? Emerging Market bonds are bonds issued by governments in countries that do not have fully industrialized and developed economies, or economies that are somewhat more risky. These countries frequently have high substantial political, as well as exchange rate risk. Due to the adventurous nature of these securities, returns can sometimes be handsome, making them attractive to investors willing to tolerate risk. However, the downside danger can be substantial. Examples are bonds issued by the governments of Mexico, Russia, Brazil, China, Hong Kong and India.

  3. What are some “tips” you can give to first time investors in bonds? Investing in T-bonds is pretty easy, since these bonds mainly differ by maturity. Investing in corporate bonds is much more difficult, since it is necessary to look at the financial statements of the companies issuing the bonds, as well as specific characteristics of the bonds: are they callable, are they convertible, are they secured, are they senior or subordinated, etc. However, in either case, it is advisable to look for mutual funds with objectives and maturities that match your needs. If you are thinking of investing in tax-free bonds, compare their return with the after-tax return on regular taxable bonds. If you are in a high tax bracket, they may be worthwhile for you.

  4. Who should consider investing in bonds? Bonds should form a part of almost everybody’s portfolio. However, two categories of investors would be particularly interested in bonds: those who don’t like risk, and those who are investing for a specific point in time in the not-too-distant future and cannot bear downside risk (e.g. somebody saving to buy a house in two years).

  5. What are some websites that provide background information on bonds?

A simple introduction to bond pricing can be found at http://library.pace.edu/~viswanat/class/301/notes/bonds.html

Information on Bond Portfolio Management can be found at http://library.pace.edu/~viswanat/class/652/notes/fixportf.html

In addition, all the mutual fund companies, such as Vanguard (www.vanguard.com) or Fidelity (www.fidelity.com) have information on bonds.

Other sources are:

http://www.bonds-online.com/
http://www.investinginbonds.com/
http://www.wsrn.com/home/
http://biz.yahoo.com

Pace University’s Lubin School of Business Launches Entrepreneur in Residence Program

More than 85 percent of new businesses fail. But don’t tell American entrepreneurs the odds! With technological advances, growing opportunities on the Internet and the ever-enduring lore of Horatio Alger — more Americans than ever want to start and run their own business. Pace University’s Lubin School of Business launches an “Entrepreneur in Residence” program, to commence in September 1998, to provide entrepreneurs-to-be the chance to interact and learn from a successful self-starter.

Contact: Public Affairs
(212) 346-1696

NEW YORK – More than 85 percent of new businesses fail. But don’t tell American entrepreneurs the odds! With technological advances, growing opportunities on the Internet and the ever-enduring lore of Horatio Alger — more Americans than ever want to start and run their own business. Pace University’s Lubin School of Business launches an “Entrepreneur in Residence” program, to commence in September 1998, to provide entrepreneurs-to-be the chance to interact and learn from a successful self-starter.

Lubin’s Entrepreneur in Residence program will feature individuals who have created, financed and managed new business ventures. Three guest entrepreneurs per academic year will visit Lubin and share their knowledge with students and faculty. The program received funding from the Coleman Foundation, Inc., of Chicago. Randy Myer, founder of Best Friends Pet Care, a national chain of high quality boarding, grooming and veterinarian services, is the first scheduled entrepreneur for the 1998/99 school year. Myer has a Harvard MBA and, prior to founding Best Friends Pet Care, worked for Booz, Allen & Hamilton, Spalding and IBM.

Myer will interact with students on Pace University’s Pleasantville, White Plains and New York City campuses. Myer states that, “most business education has been geared to large corporate leaders of business, but the backbone of this country is really the small business owner.” In addition to teaching a graduate course on Entrepreneurial Policy, Myer will lecture to undergraduate and graduate marketing and management classes, conduct hands-on workshops, and help students to develop business plans and strategies for attracting venture capitalists. Myer also will participate in developing an Entrepreneurial Development Fund, which will invest in and provide resources to Pace students and alumni who have an idea for a new business. Myer comments, “Pace will not only offer students the educational wherewithal to start their own businesses but also assist them financially in getting started.”

Pace is a comprehensive, independent University with campuses in New York City and Westchester County. Nearly 14,000 students are enrolled in undergraduate, graduate and professional degree programs in the Dyson College of Arts and Sciences, Lubin School of Business, School of Computer Science and Information Systems, School of Education, School of Law and Lienhard School of Nursing.

Tips for Starting Your Own Business

NEW YORK – The psychology of a successful entrepreneur may be elusive, but there are several practical tips one can follow when embarking on a new business venture. Randy Myer, Entrepreneur in Residence at Pace University’s Lubin School of Business, provides some hands-on guidelines for strategic and successful entrepreneurship.

  • Acquire Experience in Your Field. If you want to start a cookie company, try working as an apprentice in a leading bakery. Learn the business. See how the inside of your dream really works.

  • Conduct Research. Determine the need for your product or service within your target population. For instance, before Myer started his company, Best Friends Pet Care, he discovered that pet owners were willing to spend a lot of money on their pets – especially for quality. And in 1990, when Myer set out, the pet care industry was seriously under-serving this population.

  • Solve Consumer Frustrations. Successful companies solve consumer frustrations and correct market imperfections. You may not be able to build a better mousetrap, but you might be able to create something like the E-Z Pass, which eliminated many commuters’ frustration when waiting at the toll booth.

  • Develop a Conservative Business Plan. Underestimate the “up” side in terms of product development, marketing and sales and overestimate the time it will take you to achieve that.

  • Supplement Your Staff. Hire a team of people who possess skills and experience that you do not have. Do not hire individuals who will only clone your strengths.

  • Develop a Working Model. If your business is multi-location, develop a model in one place to see how it works before you start expanding.

Randy Myer, founder of Best Friends Pet Care – a national chain of high quality boarding, grooming and veterinarian services – is available for interviews; please contact Public Affairs at (212) 346-1696 to schedule.

Despite Major Differences Commercial Banks and Credit Unions Fare Equally in the 1990’s

Banks and credit unions are equal performers says a quantitative analysis comparing the performance and profitability of commercial banks — those that accept deposits and have the ability to make commercial loans — and credit unions in the 1990’s. Raymond H. Lopez and Surendra K. Kaushik, professors of finance at Pace University’s Lubin School of Business, find that banks are not at a competitive disadvantage despite their tax-paying status. Credit unions, on the other hand, maintain a non-taxable status and have a limited client base, and perform on par with behemoth banks. Some of these findings are explained by the new competitive realities of deregulated financial markets.

Contact: Public Affairs
(212) 346-1696

NEW YORK — Banks and credit unions are equal performers says a
quantitative analysis comparing the performance and profitability of
commercial banks — those that accept deposits and have the ability to
make commercial loans — and credit unions in the 1990’s. Raymond H.
Lopez and Surendra K. Kaushik, professors of finance at Pace
University’s Lubin School of Business, find that banks are not at a
competitive disadvantage despite their tax-paying status. Credit
unions, on the other hand, maintain a non-taxable status and have a
limited client base, and perform on par with behemoth banks. Some of
these findings are explained by the new competitive realities of
deregulated financial markets.
Looking at both loan and securities portfolios of the two industries,
Lopez and Kaushik conclude that the large size of the commercial banking
industry does not necessarily generate higher profitability.
Demonstrating a significant comeback from the 1980’s, commercial banking
has visibly recovered from some of its crises, and is performing well
across the board. According to Lopez, “Credit unions — even with their
circumscribed client base and potential volatility — have continued
since the Eighties to steadily perform well.” Data show a narrowing of
spreads between the two industries in most areas of financial
performance. Key findings include:
* Although credit unions operate under more restrictive guidelines
than commercial banks, their loan portfolios have grown more rapidly
than banks in the 1990’s and their net interest margins have remained
above banks.

* Non-interest income margins for credit unions, although still lagging
behind banks,
are rising, as are non-interest expense margins. In contrast, at
commercial banks, these expenses have been declining slightly since
1993. With the unprecedented consolidation taking place in the banking
industry through mergers and acquisitions, within the next decade,
parity could be reached between the two.

* Credit union growth rates of equity capital have ranged from 11
percent in 1994 to 20 percent in 1992. These growth rates have mostly
been 50 percent higher than bank equity growth.

Lopez and Kaushik further point out that product and service diversity
between these two industries is not converging. Whereas commercial
banks are branching out into many areas of the financial services
marketplace that were previously unavailable to them, credit unions
remain primarily domestic institutions and highly regional in their
operating composition.
Pace University is a comprehensive, independent University with
campuses in New York City and Westchester County. Nearly 14,000
students are enrolled in undergraduate and graduate degree programs in
the Dyson College of Arts and Sciences, Lubin School of Business, School
of Computer Science and Information Systems, School of Education, School
of Law and Lienhard School of Nursing.

Pace University to Honor Thomas C. Hays, CEO of Fortune Brands, During Annual Award Dinner, June 16

Pace University will honor Thomas C. Hays, chairman and CEO
of Fortune Brands, Inc., during the University’s 36th annual Leaders in
Management Award Dinner, on June 16 at The Plaza Hotel. Hays also will
receive an honorary Doctor of Commercial Science degree from the University
that evening.

Contact: Public Affairs

(212) 346-1637
NEW YORK – Pace University will honor Thomas C. Hays, chairman and CEO
of Fortune Brands, Inc., during the University’s 36th annual Leaders in
Management Award Dinner, on June 16 at The Plaza Hotel. Hays also will
receive an honorary Doctor of Commercial Science degree from the University
that evening.

The Leaders in Management Award is presented to prominent members of the
business community. It celebrates personal and professional accomplishments
that strengthen and enhance the economic, civic and cultural life in New York
and the nation. In addition, the Award serves as a symbol of excellence to
Pace University students.

Fortune Brands is a consumer products company whose brands include Titleist,
Foot-Joy and Cobra golf equipment, Jim Beam spirits, Master Lock hardware,
Moen faucets and Swingline Staplers. The company has a strong commitment to
improving the quality of life in the communities within which it operates.
Fortune Brands emphasizes a diversified workplace, and provides generous support
to such organizations as the National Urban League, the National Hispanic
Scholarship Fund and the United Way.

Thomas Hays joined the Andrew Jergens Company in 1964, was elected a director in
1974, advanced to the company’s executive vice president in 1978 and became
president and CEO a year later. In 1980, Hays joined the American Tobacco
Company as vice president-marketing, which, like Jergens, was a subsidiary of
American Brands, Inc. He was elected executive vice president in 1981, president
and chief operating officer in 1985 and CEO in 1986. American Brands sold the
American Tobacco Company in 1994.

Hays was elected a director of American Brands in 1981, a vice president in 1984
and a member of the company’s executive committee in 1987. He was elected chairman
and CEO of American Brands effective on January 1, 1995, after having served as
president and COO for nearly eight years, and on January 1, 1996 he assumed the
position of chairman of the executive committee. In May 1997, American Brands
became Fortune Brands, Inc.

Hays is a member of the Ambassadors’ Roundtable, The Forum for World Affairs, The
Business Roundtable and its Corporate Governance Task Force, The Conference Board,
and The Economic Club. He also serves as a director of ACNielson, the Fairfield
County Community Foundation, Inc., and the Southwestern Area Commerce and Industry
Association.

The Leaders in Management Award Dinner was initiated in 1962 by the Pace University
Executive Council to highlight the corporate community’s support and encouragement
of the University. Proceeds are used to match the $10 million Dyson Family Challenge,
the National Endowment for the Humanities Challenge Grant and the $55-million Campaign
for Pace University.

Past recipients of the Award include Eugene R. McGrath, Consolidated Edison; Thomas G.
Lebrecque, The Chase Manhattan Bank; William Ferguson, NYNEX Corporation; Robert E.
Allen, AT&T; Maurice R. Greenberg, American International Group, Inc.; John Weinberg,
Goldman, Sachs & Co.; and the Board of Trustees of Pace University.

Pace is a comprehensive, independent University with campuses in New York City and
Westchester County. Nearly 14,000 students are enrolled in undergraduate, graduate
and professional degree programs in the Dyson College of Arts and Sciences, Lubin
School of Business, School of Computer Science and Information Systems, School of
Education, School of Law and Lienhard School of Nursing.

Pace University Study Shows that Temporary Workers are Just as Motivated as Permanent Staff

If you’re concerned that your temporary staff is slacking off, don’t worry – a new Pace University study shows that contingent workers are just as motivated as permanent employees. New findings of the attitudes, behaviors and motivations of contingent workers shatter many popular myths about this sector of the labor force.

Posted by Public Affairs on March 25, 1998 at 13:51:13:

Contact: Public Affairs
(212) 346-1637
NEW YORK – If you’re concerned that your temporary staff is slacking off, don’t worry – a new Pace University study shows that contingent workers are just as motivated as permanent employees. New findings of the attitudes, behaviors and motivations of contingent workers shatter many popular myths about this sector of the labor force.

“Far from being less committed, less satisfied, less skillful than core employees, contingent workers frequently scored higher in such areas of this survey,” said Peter Allan, a professor of management at Pace University’s Lubin School of Business in New York. “Management should not overlook the potential of these workers. Despite lacking job security and other benefits, they certainly have the motivation to function productively.”

Allan surveyed 197 professional and technical workers – both core and contingent – about how they perceived their jobs. Then he assessed those attributes that are linked to motivation and performance, such as task significance, autonomy, skill variety and feedback. The Pace University study shows:

· Contingent workers scored higher in their ability to be self-motivated by their jobs. Possible reason: lacking permanent positions, contingents may have valued their jobs more; permanent workers may take their jobs for granted.
· Contingent workers scored significantly higher in task identity and job feedback. Possible reason: contingents are hired for tasks that are whole identifiable pieces of work and provide information about the effectiveness of their performance.
· Contingent workers scored higher in need for growth, suggesting that they were likely to respond more favorably to jobs that offered them challenges.

With the exception of job security, the core workers did not score significantly higher in any category, including in their satisfaction with compensation. In many cases, professional and technical contingent workers are paid better than full-time employees are.

“Generally, contingent workers do not enjoy the same kinds of benefits that full-time employees do, such as pensions or health insurance,” Allan said. “But in many cases, people choose to be contingent workers, because it allows them job flexibility. Often hired for a special project, they leave when the assignment is complete, thus freeing them to care for an aging parent or young children. This type of temporary work also can be ideal for a retired person who wants to keep a hand in the labor force.”

Businesses need to tailor work to be motivating to the contingent workers, and provide them direct feedback on their performance in order to maximize motivation and production, Allan said.

Pace University’s Lubin School of Business, with 5,500 students, offers undergraduate, graduate and doctoral degree programs, and hosts a number of research centers and institutes which extend its scholarship and teaching to a worldwide audience. The School is accredited by AACSB: the International Association for Management Education.

Pace University Purchases World Trade Institute from Port Authority

The World Trade Institute, one of the
nation’s leading schools specializing in international trade,
transportation, taxes and language studies, has been purchased by Pace
Unive rsity.

Contact: Public Affairs
(212) 346-1637

NEW YORK, July 1, 1997 — The World Trade Institute, one of the
nation’s leading schools specializing in international trade,
transportation, taxes and language studies, has been purchased by Pace
Unive rsity.

The Institute will continue operating on the 55th floor of One World
Trade Center in New York, where the Port Authority first opened it in
1970.

Port Authority Executive Director Robert E. Boyle said, “The World
Trade Institute is a valuable educational resource to both World Trade
Center tenants and the region’s international trade community. Under
the agreement we are announcing today, the Institute will continue to
serve tenants and business people from both states, and the Port
Authority will save operating costs and gain sale and rental revenues.

“This is another example of how the Port Authority is continuing to
seek privatization opportunities when they serve the public interest.
Offering international t rade and language education at the World Trade
Center is a valuable service, but it’s even a better idea if it is
managed by a private university such as Pace, with the experience and
resources to capitalize on its success.”

The acquisition of the Institute by Pace will strengthen the
University’s respected tradition of preparing men and women for
successful careers in a global economy and further its commitment to
the expansion of adult, international and corporate programs.

Pace Pr esident Patricia Ewers said, “With the acquisition of the World
Trade Institute, Pace University is building upon its 90-year
tradition of educational responsiveness and entrepreneurship by adding
a new range of academically sound, sophisticated, flexible learning
opportunities, grounded in the important international arena, for a
new generation of talented, ambitious, lifelong learners.”

The World Trade Institute has seen its programs grow in popularity
during a distinguished 25-year history. Its offerings, including
academic programs, seminars, conferences, on-site training,
international training, the Evening School of World Trade, the
Language Center and the WTI Conference Center, are ideally suited to
Pace University’ s mission. That mission emphasizes strong
partnerships with the business community, the interaction of theory
and practice, individualized and customized training, and a commitment
to continuous learning and student achievement.

During the tra nsition of ownership, Pace will provide support for the
WTI to continue to develop and deliver its programs. Pace will build
upon these programs by enhancing the scope of their content, teaching
methods, and partnerships with other organizations . The University’s
Dyson College of Arts and Sciences is already a WTI partner in
offering a certificate in Language, Culture and World Trade as well as
language training programs. Pace’s other schools are eager to explore
other possibly joi nt offerings for the Institute’s regional and
international students.

Pace is a comprehensive, independent university with campuses in New
York City and Westchester County. Nearly 14,000 students are enrolled
in undergraduate and graduate de gree programs in the Dyson College of
Arts and Sciences, Lubin School of Business, School of Computer
Science and Information Systems, School of Education, School of Law
and Lienhard School of Nursing.

The World Trade Center houses a full spect rum of businesses and
government agencies involved in international commerce, with 435
tenants from 26 countries. The 16-acre complex, with approximately 12
million square feet of office space, consists of seven buildings,
including the 110-s tory Twin Towers and the New York Marriott World
Trade Center. It also offers 70 stores and restaurants. The complex
has a daily population of 40,000 workers and more than 100,000
visitors.

Pace University Program to Address Quality and Cost of Patient Care

Pace University’s Center for Health Care Education and Research is presenting a seminar on “Measuring Patient Care: Quality and Cost Efficiency,” on Wednesday, June 25, from 8:15 to 10:30 a.m. at the Lubin Graduate Center, One Martine Avenue, White Plains, NY. The cost of the program is $45. For more information, call (914) 422-4298.

Contact: Public Affairs
(212) 346-1637
WHITE PLAINS, NY — Pace University’s Center for Health Care Education and Research is presenting a seminar on “Measuring Patient Care: Quality and Cost Efficiency,” on Wednesday, June 25, from 8:15 to 10:30 a.m. at the Lubin Graduate Center, One Martine Avenue, White Plains, NY. The cost of the program is $45. For more information, call (914) 422-4298.

Guest speakers will include Arthur Weintraub, president of the Northern Metropolitan Hospital Association; Frank Medici, M.D., medical director of Oxford Health Plans; and John Connolly, president and CEO of Castle Connolly Medical Ltd., and author of several consumer guides on choosing medical care.

The conference is co-sponsored with the New York Society for Health Planning and the Northern Metropolitan Hospital Association. The speakers will address “The Quality Report Card Process: Health Care Organizations Measure Results,” “The Managed Care Approach in Evaluating Quality and Cost Efficiency,” and “Guiding the Public to Efficient Quality Care.”

Pace University’s Center for Health Care Education and Research was founded in 1996 by the Dyson College of Arts and Sciences’ Department of Public Administration in order to advance health care education and research activities at Pace, and to assist health care providers in meeting the needs of the community.

Pace is a comprehensive, independent University with campuses in New York City and Westchester County. Nearly 14,000 students are enrolled in undergraduate, graduate, and professional degree programs in the Dyson College of Arts and Sciences, Lubin School of Business, School of Computer Science and Information Systems, School of Education, School of Law and Lienhard School of Nursing.

Pace Honors Eugene R. McGrath of Consolidated Edison With Leadership Award

Pace University honored Eugene R. McGrath, chairman, president and CEO of Consolidated Edison of New York, at the University’s 35th annual Leaders in Management Award Dinner on Tuesday, April 1, at The Plaza in New York City.

Contact: Public Affairs
(212) 346-1637
NEW YORK — Pace University honored Eugene R. McGrath, chairman, president and CEO of Consolidated Edison of New York, at the University’s 35th annual Leaders in Management Award Dinner on Tuesday, April 1, at The Plaza in New York City.

In presenting the Award, Pace University President Dr. Patricia O. Ewers described Mr. McGrath “as a giant in the energy industry and a man of enormous dedication and commitment when it comes to civic responsiveness and a keen understanding of the importance to higher education in building the skilled and productive workforce of tomorrow.” At the ceremony, Mr. McGrath received an Honorary Doctor of Commercial Science degree from the University.

A native of New York, Mr. McGrath earned a mechanical engineering degree from Manhattan College, a masters of business administration degree from Iona College and completed an advanced management program at Harvard University.

The Leaders in Management Award, initiated in 1962 and presented annually to prominent members of the business community, celebrates the recipients’ achievements, which serve to enhance the economic, civic and cultural life of New York and the nation.

Past recipients of the Leaders in Management Award include: David Rockefeller, The Chase Manhattan Bank; Thomas J. Watson Jr., IBM; and Robert E. Allen, AT&T.

Also during the evening, the University recognized the contributions of the Corporate Representatives Committee, a group of alumni that serves to strengthen the University’s ties to the corporate community and fosters increased alumni participation in University events and activities.

Proceeds from the Leaders in Management Award Dinner will be used to match the $10-million Dyson Family Challenge and Pace University’s National Endowment for the Humanities Challenge Grant.

Lubin School of Business to Offer New M.B.A. in Health Systems Management

Pace University’s Lubin School of Business will offer a new master’s degree program in business administration with a concentration in health systems management beginning September 1997. The program will prepare students for management positions who are able to combine leadership skills with an understanding of the ethical and policy issues of the complex health care field.

Contact: Public Affairs
(212) 346-1637
NEW YORK — Pace University’s Lubin School of Business will offer a new
master’s degree program in business administration with a concentration in health
systems management beginning September 1997. The program will prepare students for
management positions who are able to combine leadership skills with an understanding
of the ethical and policy issues of the complex health care field.

“Out of seventeen million jobs created during the next ten years in the United
States about three million will be in health care,” said Dr. Vasanthakumar Bhat, associate
professor of management science and coordinator of the new program. The demand for
health care managers in New York is roughly 1,500 annually, while schools in the state
currently produce only 500 professionals in the field.

Lubin’s health systems management program combines M.B.A. core courses with
specialization courses in the management, economics and strategic planning of health
care organizations and delivery systems, and the legal, ethical and social policy issues in
health care. The specialization courses will be taught by Pace University faculty from
the Public Administration Department in Dyson College and the Lienhard School of
Nursing. M.B.A. core courses will be taught by faculty in the Lubin School of Business.

The Lubin School of Business, with 5,500 students, offers undergraduate, graduate
and doctoral degree programs, and hosts a number of research centers and institutes
which extend its scholarship and teaching to a worldwide audience. The School is
accredited by the American Assembly of Collegiate Schools of Business (AACSB).

Pace is a comprehensive, independent university with campuses in New York City
and Westchester County.