Blackstone Chairman on Running on Empty Tiffany President Honored at 12th Annual Lubin Lunch Nobel Laureate Speaks on Global Economy Securities Conference Examines Increased Competition and Scrutiny Experts on Economy in Post-Election Debate DDB Worldwide Chairman Is Executive in Residence Lubin and School of Ed Partner for EIR Visit 7th Annual Golf Classic Inaugural Pace Pitch Contest New Leadership Team at the CIBD New Associate Director Appointed at the CIBD Study Indicates That Corporate Tax Shelters Lower Debt Ratio Artificially Finance Professor Finds Five-Star Ratings Dim Under Close Scrutiny    January 2005 www.pace.edu/lubin  Blackstone Chairman on Running on Empty Peter G. Peterson, chairman of the Blackstone Investment Group and the Council on Foreign Relations, was the featured speaker at the Global Finance Leadership Forum on December 6, 2004. Organized by Lubin's Center for Global Finance, the forum was co-sponsored by Forbes.com and Gartner Inc. Peterson recently authored Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It. >> more info Tiffany President Honored at 12th Annual Lubin Luncheon "For me and for so many first generation New Yorkers, Pace is a big step forward," said James E. Quinn while addressing over 300 fellow alumni, colleagues, Lubin faculty, staff, and students at the 12th Annual Alumni Achievement Award Luncheon held in his honor on December 3, 2004. Scholarship recipient Timur Rakhmanov and Recent Alumni Service Award recipient Elizabeth Diep were also honored. >> more info Nobel Laureate Speaks on Global Economy Dr. Joseph Stiglitz, Nobel Laureate, addressed "Globalization and Its Discontents" at the Fifth Annual Henry George Symposium. A packed auditorium heard Stiglitz discuss Iraq, debt forgiveness, and global instability reflected in the U.S. fiscal and trade deficit. >> more info Securities Conference Examines Increased Competition and Scrutiny E. Stanley O'Neal of Merrill Lynch and other securities specialists participated in what has become a "must attend" industry tradition – the Pace October Securities Industry Conference. The 11th annual conference focused on surviving increased competition and increased scrutiny in the Securities Industry. O'Neal also revealed that Merrill Lynch will remain independent. "This will be the case as long as I can see it," he stated. >> more info Experts on Economy in Post-Election Debate On Wednesday, November 10, 2004, three experts in the field of finance: Vincent Catalano, CFA, president of iViewResearch, LLC, and moderator; Subodh Kumar, investment strategist, CIBC World Market; and Matthew Morey, associate professor of finance, and winner of the 2004 Investment Management Consultants Association journalism award, gathered to discuss the economic challenges facing the Bush Administration in its second term. >> more info DDB Worldwide Chairman Is Executive in Residence Executive in Residence Keith Reinhard, chairman of DDB Worldwide Communications Group, offered a stimulating challenge to students during his visit to at the Lubin School on November 3, 2004. Reinhard called on students to be international ambassadors by helping to restore respect for "Brand America" through his organization Business for Diplomatic Action. >> more info Lubin and School of Ed Partner for EIR Visit The Lubin School and the School of Education collaborated to bring Michael C. Koffler, president and CEO of MetSchools, Inc., as an Executive in Residence to the New York campus on November 18, 2004. Koffler outlined for business and education students the process MetSchools, Inc. is going through to launch the Claremont Preparatory School in downtown Manhattan. >> more info 7th Annual Golf Classic On Tuesday, May 31, 2005, the Lubin School will welcome its alumni and corporate friends to Wheatley Hills Golf Club in East Williston, NY, for the 7th Annual Lubin Golf Classic. Join us and enjoy the club's challenging Devereux Emmett designed golf course, 5-star cuisine, fabulous raffle prizes, and silent and live auctions. Dell will once again be the title sponsor and all proceeds benefit student leadership initiatives. >> more info Inaugural Pace Pitch Contest Clinical Professor of Management Bruce Bachenheimer got the idea and JPMorgan Chase Bank funded it: an innovative pitch contest where budding entrepreneurs had three minutes to present their ideas , marketing strategy, competitive analysis, and financial plan to a panel of judges who acted as potential investors. The contest, held on December 3, 2004, at the Pace downtown New York City campus, was a huge success, with 17 contestants making presentations. >> more info New Leadership Team at the CIBD Dr. Linda M. Sama has great plans for Lubin's Center for International Business Development (CIBD). As the new director, Sama, associate professor of management and international business, is putting the Center into high gear, aiming to expand Lubin's international connections on several levels. Understanding the importance of a strong management team, she has hired John Meletiadis as the new associate director to assist her in reshaping the Center. >> more info New Associate Director Appointed at the CIBD John Meletiadis has joined the Lubin School of Business as the new associate director of the Center for International Business Development. Fluent in Greek and Spanish, Meletiadis holds an MBA in international business and marketing from Georgetown University and a BA (magna cum laude) in political science and economics from New York University. >> more info Study Indicates That Corporate Tax Shelters Lower Debt Ratio Artificially Researchers Alan Tucker (Lubin) and John Graham (Fuqua/Duke) looked at 43 large, tax sheltering companies, mainly during the 1990s, and found that these companies avoided billions of dollars in annual tax payments and may have artificially enhanced their financial health to investors. There is high media attention to this study, including The Wall Street Journal, and other outlets. The paper, "Tax Shelters and Corporate Debt Policy," is available at www.ssrn.com/abstract=633042. Finance Professor Finds Five-Star Ratings Dim Under Close Scrutiny Professor Matthew R. Morey's recent study of 273 mutual funds that received first-time five-star ratings from Morningstar Inc. found that things began to go bad almost immediately. Seems the rating may be "the kiss of death" because the funds, to some degree, may alter their portfolios to fit their new rating and may not be able to sustain momentum. Morey's study, forthcoming in the Journal of Investment Management has received media attention from The Washington Post, Crain's New York Business, The Capital Times, Contra Costa Times (CA), and Providence Journal, among others. Questions about eLubin? Write to lubin@pace.edu