ADVANCED TRADING
BY IVY SCHMERKEN
New York (May 1, 2013)

Professor Bernard Donefer of Baruch College and Sal Arnuk, Partner at Themis Trading went head-to-head on regulation, technology and politics surrounding the controversial practice of HFT.

A lively debate on high frequency trading or HFT was held last night at Baruch College in Manhattan featuring two well -known speakers who are polar opposites on the controversial practice.

Professor Bernard Donefer, Distinguished Lecturer and the Associate Director of the Subotnick Financial Services Center at Baruch College, faced off against Sal Arnuk, co-founder, partner and co-head of equity trading at Themis Trading LLC.

Donefer was introduced as the speaker who would defend Frankenstein’s Monster – an analogy coined by The New York Times business columnist Joe Nocera to describe the invention of HFT.

To continue reading click here.

Copyright © 2013 UBM Tech, All rights reserved

Overall, 34 colleges and universities participated in this contest, totaling just under 700 students from the United States. Baruch College had the most students who finished in the Top 100 Overall Ranking, with 13 students.

The following Baruch students placed in the Top 100 Overall Ranking: Benjamin Chung (undergraduate), 3rd place; Ruming Huang (undergraduate), 4th place; Edwin Huang (undergraduate) 7^th place; Michael Jimney (undergraduate), 9th place; Rigoberto Garcia (undergraduate) 22^nd place; Ashfaq Khandaker (undergraduate) 27^th place; Amir Mohsen Danesh Yazdi (undergraduate), 28^th place; Pedro Orta (undergraduate) 37^th place; Xiaodong Pan (undergraduate) 50^th place; Rachid Afane (undergraduate) 65^th place; Vivian Tsoi (undergraduate) 69^th place; Manuel Cifuentes (undergraduate) 94^th place; and Quan Lin (undergraduate) 95^th place.

The All-America Student Analyst Competition, which ran from September 2012 through January 2013, was a collaborative event between Institutional Investor and Mark My Media, a Stamford, Connecticut–based firm that has built a sophisticated software platform to track portfolios of the participants. Performance was graded quantitatively on multiple factors to determine the overall winners, as well as those in seven different industry sectors.

Students started their portfolios with $100,000 each and had to follow Regulation T, the Federal Reserve Board rule designating a 50 percent major requirement on initial stock purchases. They were then free to trade in any of the seven Industry Sectors: Basic Materials, Capital Goods/Industrials, Consumer, Energy, Financial Institutions, Health Care and Technology, Media & Telecommunications. The trading books were maintained in a dedicated server that sits in an SAS-70 security-rated co-location facility similar to those financial institutions use.

In the Industry Sectors, Baruch College was well-represented by its students. Jason Tong, placed 3rd in the sector of Energy. In the Financial Institutions sector, Jason Tan placed 5^th, Vivian Tsoi finished in 11^th and Rigoberto Garcia placed 15^th. In the Technology, Media & Telecommunications sector, Sharaf Islam finished in 11^th place.

Baruch’s Manuel Cifuentes finished in first place in the Long Alpha category, riding penny stock EP Global Communications, an Irvine, California-based medical device manufacturer and marketing company. The stock was trading under 1 cent per share when Cifuentes, a finance major, picked it up and had risen to 4 cents by the end of January.

In the Short Alpha category, Ding Siu Lau, placed 7^th, Hajun Lee placed 9^th, Sanguk Kim placed 13^th, Edwin Huang placed 14^th, Vivian Tsoi and Heather Alicia tied for 18^th place.

In the Net Benchmark Outperformance category, Ruming Huang ranked 2^nd, Manuel Cifuentes ranked 15^th, Benjamin Chung ranked 16^th, and Edwin Huang ranked 18^th.

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:

Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu

Mercedes Sanchez, (646) 660-6112, mercedes.sanchez@baruch.cuny.edu

The Aspen Institute's 2013 Business & Society International MBA Case Competition introduced a new case study created by the Yale School of Management and the National University of Singapore Business School: Golden Agri Resources and Sustainability. Students took on the role of consultants for the company (one of the largest producers of palm oil in the world) and tackled complex questions related to sustainability certification, regional economic development, and stakeholder engagement with activist environmental organizations.

Baruch’s MBA Team included David Master, Santiago Perez, Marc Persaud and Madhu Sudhan. They completed three rounds of competition, which began in mid-March. On April 19, the Top 5 teams presented their ideas in a written format and PowerPoint, to a panel of judges including senior corporate executives. For placing second, Baruch College’s MBA Team won $8,500.

“Our team did great work on Friday night and we are very proud of them,” said John Albanese, Director of Baruch’s Full-time MBA Program in the Zicklin School of Business. “This was our fourth time participating in the Business & Society Case Competition and our first appearance in the final round. It was very exciting waiting for our placement!”

This is the first time Baruch MBA student David Master participated in any business case competition. He said he found the experience very interesting and rewarding. “The nature of the case study forced us to delve into large amounts of information, and into greater levels of complexity,” he said. “This created a very challenging dynamic that required the use of both soft and hard skills.”

Team member Madhu Sudhan, born and raised in Bangalore, India, said it was an honor to represent Baruch College in the competition. “The greatest asset [to participating in the competition] has been [learning] how businesses can adopt sustainable practices and yet remain relatively profitable,” he said. “I have been lucky to meet very talented people who are ambitious, hardworking and I am developing long-term friendships beyond school and business.”

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:

Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu

Mercedes Sanchez, (646) 660-6112, mercedes.sanchez@baruch.cuny.edu

After a national search that included open meetings with Baruch’s faculty, staff and students, President Mitchel B. Wallerstein is pleased to welcome Dr. Christy as the College’s new chief academic officer. “I am delighted that Dr. David Christy, who is currently the Dean of the Orfalea College of Business at the California Polytechnic State University, has accepted my invitation to become the new Provost and Senior Vice President for Academic Affairs of Baruch College.  Dr. Christy’s experience as a business educator, researcher and academic leader are ideally suited to the current needs of the College, but the fact that his background also includes training in and exposure to the arts and sciences leads me to have great confidence that he will be fully responsive to the needs and concerns of the entire institution.  We are fortunate to have recruited him, and I look forward to his arrival at the College this summer,” said President Wallerstein.

“I look forward to enhancing and protecting what is already great about Baruch College, which was built on the principles of providing students with access to an excellent education and the opportunities for success that come with that education,” said Christy. “Baruch is already one of the premier urban public colleges, and I am honored by the faith placed in me to propel the College forward as it implements its new strategic plan. I am eager to meet the faculty, students, staff, alumni and many friends of Baruch College so that we may begin working together to advance the College.”

Academic Leadership

As Provost and Senior Vice President for Academic Affairs at Baruch College, Dr. Christy will manage an academic budget of more than $100 million as he oversees the academic programs and services for the School of Public Affairs, the Weissman School of Arts & Sciences and the Zicklin School of Business, the largest collegiate business school in the nation. The Provost’s portfolio also will include the College’s Honors Program, the Baruch Computing & Technology Center, its Bernard L. Schwartz Communication Institute, an extensive continuing and professional studies program, the William and Anita Newman Library, work with faculty on sponsored programs and research, and many student-specific services, including the academic consulting and writing centers.

Currently Dean of the Orfalea College of Business at the California Polytechnic State University since 2004, Dr. Christy is a proven advocate for faculty development.

“Dr. Christy has enhanced the reputation of the Orfalea College of Business over the past nine years by attracting bright students and committed faculty,” said Cal Poly President Jeffrey D. Armstrong. “He has exceptional talent for recruiting and supporting faculty members who are devoted to excellence in scholarship and teaching.”

Dr. Christy said he understands that the faculty are the competitive edge for an institution of higher education.

“For nine years I have served our faculty and students as an academic leader. While this role is complex, the objectives are straightforward: create a shared vision for a productive, creative and effective learning community. My plan is to invite faculty and students to make substantial contributions to the achievement of this vision, and to build an organization that encourages respect and openness while we tackle difficult problems. Strategic planning, assurance of student learning, and investing in faculty development are each essential components in achieving this vision.”

Focus on Operations Management and Management Science

Dr. Christy earned his Ph.D. in business administration from the University of Georgia, where he also earned his M.Ed. in science education. His undergraduate degree in biology and chemistry was earned at the University of Dayton, Ohio.

He began his career at Penn State’s Smeal College of Business in the Department of Management Science & Information Systems, eventually serving as department head; then served as Interim Associate Dean for Research and Graduate Programs and during his final four years at Penn State was Associate Dean for Undergraduate Programs.

During Dr. Christy’s tenure as Dean of the Orfalea College of Business at Cal Poly, the college continued to execute its strategic plan, enhanced opportunities for faculty research support, updated the MBA curriculum including an Asian study tour option, and enhanced the academic quality of graduate degree offerings. An MS in Accounting Taxation program was initiated. The undergraduate program now offers an option for first year students to enroll in business core courses, has enhanced advising services, and offers a sophomore leadership workshop to one hundred students each year. The Volunteer Income Tax Assistance program and Low Income Taxpayer Clinic have expanded to serve regional clients. Christy was involved in recruiting 37 new faculty, refreshed the programs in economics and industrial technology, and enhanced intellectual opportunities for faculty within a framework of faculty participation and accountability. Using criteria developed by the faculty, he initiated a cooperative agreement between the business programs at Cal Poly and Politecnico di Milano, Italy.

Baruch College: A global leader in public urban education

More than 166 years ago, Townsend Harris and other City Fathers signed an accord to create New York’s and the nation’s first free institution of higher education. The idea for the Free Academy was audacious, and where Baruch College stands today, America began an experiment in access to higher education that was intended to create a better-trained workforce for the City of New York. The experiment succeeded, and Baruch is its most direct heir.

In fall ‘12, President Wallerstein oversaw the adoption of the College’s new roadmap, theBaruch College Strategic Plan 2013-2018. This five-year plan sketches an ambitious agenda that builds on the tremendous successes achieved throughout the history of Baruch College and, particularly, in the past two decades. “I’m looking forward to partnering with Dr. Christy to implement our strategic plan, which envisions a new way of working at the College: one that is more collaborative, more data-driven, more communicative, and more goal-oriented. Dave’s background in academic administration coupled with his career-long foundation of collaboration with faculty and advocacy for student success, is the mix needed to reach our goals,” said President Wallerstein.

Much of his recent work at Cal Poly has prepared Dr. Christy for this appointment – from serving as the point of contact for development of university entrepreneurship initiatives, to securing business program reaccreditation by AACSB International, to championing the improvements in learning assessment and instructional design, including technologies to support both.

“I look forward to working across the entire Baruch campus and with the CUNY chancellery to ensure Baruch’s mission is strengthened, says Christy. “In particular, I look forward to launching a national search for the next dean of the Zicklin School of Business, guiding that School through its upcoming AACSB reaccreditation, and harnessing Baruch’s great work in business, the arts and sciences, and public affairs to prepare our students to be effective citizens. I was a first-generation student with great aspirations. I can’t wait to apply everything I’ve learned to help Baruch’s heavily first-generation student body actualize their ambitions. Getting to live and work in New York City is also terribly exciting,” concludes Baruch College’s new Provost and Senior Vice President for Academic Affairs, Dr. David P. Christy.

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:

Baruch College: Christina Latouf, 646-660-6114, christina.latouf@baruch.cuny.edu

Cal Poly: Matt Lazier, 805-756-7109, mlazier@calpoly.edu

This spring young entrepreneurs from New York colleges and universities are competing in the 11th Annual SmartPitch Challenge, hosted by Baruch College and IBM. The competition, which celebrates New York City as a center for innovation and new business development, gives student entrepreneurs an opportunity to create and validate a business concept, pitch their idea and follow a business plan to ultimately launch their business.

The competition kicked off Feb. 1 at Baruch College with a reception featuring remarks by noted business entrepreneurs, educators and mentors. A series of supporting events are being hosted throughout the challenge that will lead up to the formal SmartPitch competition scheduled on June 6. A list of events and updates can be found on Facebook and their Social Networking Site.

The SmartPitch Challenge, partnership of the CUNY Institute for Virtual Enterprise (IVE), the Lawrence N. Field Center for Entrepreneurship at Baruch College and IBM, is featured the article, “Delivering the Perfect Pitch: Startups flock to business-plan competitions to win cash and publicity,” published in Crain’s New York.

Baruch’s Newman Vertical Campus in The Educated Observer

Jill Lerner, Managing Principal at Kohn Pedersen Fox Associates (KPF) was interviewed by The Educated Observer about the role architecture and design plays in the world of higher learning today. Ms.Lerner's 30-year career in design and management at KPF has seen her at the helm of many award-winning projects for academic institutions across the globe.

The Newman Vertical Campus mixed-use academic complex at Baruch College, CUNY is among the buildings featured in the article. The 780,000-square-foot building occupies almost a full city block in Manhattan’s historic Gramercy Park neighborhood and won an AIA National Honor Award in 2003. In the article, “If You Build They Will Learn: The Role of Architecture and Building Design in Optimizing Modern Learning,” by The Educated Observer, Spring 2013, Lerner says, “It is always rewarding to work with a client with these sensibilities. It was a fabulous opportunity to remake a major institution in the city and resulted in an internationally recognized, award-winning design.”

BizEd Highlights CSR-Sustainability Monitor

Baruch College’s Weissman Center for International Business has created the CSR-Sustainability Monitor^TM that examines 560 CSR reports from national and international corporations. Corporate Social Responsibility (CSR) is a leading non-financial evaluator of corporate performance by shareholders.

During the last decade, there has been growing global, public concern about the impact of corporate strategies and operations on the physical, economic, and socio-political environments. To address this concern, researchers at the Weissman Center for International Business, under the direction of University Distinguished Professor S. Prakash Sethi, have developed the CSR-Sustainability Monitor^TM which is an analytic framework for the systematic and objective evaluation of CSR reports. The CSR-S Monitor, which was published in late January, is featured in the “Upcoming and Ongoing” section of the March/April Issue of BizEd Magazine.

• XBRL Data for Analysis – a Review of Data in Use Today and What’s Ahead
• How Analysts, Investors & Regulators Use Corporate Data: A Changing Landscape
• Analytical Tools on the Market
• XBRL Challenge Applicants

See complete timeline and list of panelists here.

WHEN: 3:00 p.m. - 6:15 p.m., Wednesday, March 27, 2013

WHERE: Baruch College, 55 Lexington Ave (enter on 24th or 25th street) Room 14-285, New York City

HOW:: Register for this free conference at http://zicklin.baruch.cuny.edu/centers/zcci/zcci-events/xbrl-and-financial-analysis-conference. For more information, contact Matthew Lepere at 646-312-3231 or matthew.lepere@baruch.cuny.edu.

###

About Baruch College’s Robert Zicklin Center for Corporate Integrity
The Robert Zicklin Center for Corporate Integrity is a forum for discussion of a broad range of contemporary issues confronting US corporations and capital markets. Our concerns include: transparency of corporate reporting, corporate governance, examining legal and ethical corporate behavior, spotlighting executive accountability, corporate responsibility in global business development, risk assessment and amelioration, resolving conflicting corporate stakeholder interests, and evaluating the role of governmental regulation. Learn more at http://zicklin.baruch.cuny.edu/centers/zcci.

About NYSSA
The New York Society of Security Analysts (NYSSA) is a leading forum for the investment community. NYSSA’s mission is to promote best practices and the highest professional and ethical standards in the industry. With nearly 10,000 members, NYSSA is the largest of the 135 societies worldwide that make up CFA Institute, which has more than 100,000 members. For more information about NYSSA, please visit http://www.nyssa.org. Follow NYSSA on Facebook, Twitter and Finance Professionals’ Post.

About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission, and has developed a taxonomy for corporate actions. Learn more at http://xbrl.us

MEDIA CONTACTS:

For Baruch College: Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu

For  XBRL US: Michelle Savage, (917) 747-1714, michelle.savage@xbrl.us

Colleges were surveyed in fall 2012 and early 2013. Data needed to calculate full-time MBA rankings were based on a weighted average of the indicators that included: Quality Assessment (peer assessment score, recruiter assessment); Placement Success (mean starting salary of graduates and bonus, employment rates for full-time master’s program in business graduates); Student Selectivity (mean GMAT and GRE scores and mean undergraduate GPA); and Acceptance Rate. The Zicklin School of Business ranked 66th in the area of “graduates’ mean salary and bonus” and 23rd in the area of “recruiter assessment.”

Included in the 2014 ranking is Baruch’s School of Public Affairs ranked at #46, up 11 spots from the 2008 ranking of #57. In addition, the SPA received high marks in the specialty area of Nonprofit Management debuting on the ranking at #21. These rankings, first announced in 2013, are also included in the 2014 Edition of the “Best Graduate Schools.”

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.  For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:

Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu

Mercedes Sanchez, (646) 660-6112, mercedes.sanchez@baruch.cuny.edu

The University of Alabama Birmingham Health System has sponsored the Health Administration Case Competition since 2007. The competition provides students with the opportunity to present their recommendations to a national panel of judges. It is designed to be a capstone experience that tests each team’s analytic, teamwork, communication and presentation skills.

This year, 32 teams from national universities and colleges competed. Steve, Jahnhoy and Nicole each spent between 125-150 hours analyzing the case brief that was delivered to teams four weeks before the competition. The 2013 case challenged teams with developing several urgent care centers in Middle, Tenn., as part of the TriStar Health System. Each team had to develop a 20-minute pitch using PowerPoint to present their strategic approaches to achieving each of the case’s articulated deliverables.

Steve said he and his teammates, who all work full-time, were able to effectively collaborate by utilizing each other’s areas of expertise and strengths. Steve is a business analyst at Memorial Sloan-Kettering; Jahnhoy is a Medicare operations manager with the New York City Health and Hospital Corporation/MetroPlus Health Plan; and Nicole is a grants specialist at Montefiore Medical Center.

"I was honored to represent Baruch,” Nicole said. “I am very proud of my team as we were recognized by our peers and so many illustrious industry members for the work we put in and the quality of our ideas."

“Each of us possess different backgrounds and expertise, but were able to combine our unique strengths to our advantage,” Steve said. “Given the complexity and level of research needed for the case, managing our time was the primary challenge, but I think we worked very well as a team. We had the perfect balance of expertise and were able to create innovative, viable recommendations for TriStar.”

For the case competition, Jahnhoy developed a marketing plan and applied his expertise in Medicare/Medicaid programs. Nicole developed a sophisticated methodology for establishing urgent care centers, and Steve created a financial and operational plan, providing projections for the cost of staffing, equipment and other essentials business variables. The team’s analysis examined demographics in Middle, Tenn., including economic conditions, local competitors, population growth, insurance payor mix, and marketing opportunities.

##

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.  For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:
Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu
Mercedes Sanchez, (646) 660-6112, mercedes.sanchez@baruch.cuny.edu
Celene McDermott (646) 660-6134, celene.mcdermott@baruch.cuny.edu

##

ACCOUNTING TODAY
BY MICHAEL COHN
New York (February 11, 2013)

Public Company Accounting Oversight Board member Jeanette Franzel said the ability to inspect auditing firms in China remained one of the PCAOB’s greatest challenges, but the PCAOB is making progress on negotiating a memorandum of understanding with the Chinese government.

Franzel spoke Friday during a conference on sustainable business at Baruch College’s Zicklin Center for Corporate Integrity. She also noted that the PCAOB has taken a brief pause in its deliberations around a concept release proposing mandatory audit firm rotation, but would make a decision on the next steps later this year.

The ability to inspect China, along with broker-dealer audits and the auditor’s reporting model were cited as the top challenges for the PCAOB by Franzel, who joined the board last February after serving as a managing director at the Government Accountability Office.

To continue reading click here.

2013 SourceMedia. All rights reserved.

Read More...

ACCOUNTING TODAY
BY MICHAEL COHNMELISSA HOFFMANN LAJARA
New York (November 30, 2012)

Public Company Accounting Oversight Board chairman James Doty told an audience of auditors that the public is expecting more from the audit profession and warned firms against skimping on audit quality.

2013 SourceMedia. All rights reserved.

This year’s recipients hail from around the globe and once again include leaders from the public and private sectors as well as authors, consultants, researchers and academics. Each recipient has made an extensive and positive contribution to building trust in business and many have already joined Trust Across America's Alliance of Trustworthy Business Experts (ATBE), a program that launched in the fourth quarter of 2012 and has already grown to over 150 global experts who are collaboratively joining forces to combat the world's trust crisis.

Dr. Schepers was recognized for his extensive work when he served as Director of the Robert Zicklin Center for Corporate Integrity, which serves as a forum for discussion of a broad range of contemporary issues confronting U.S. corporations and capital markets including: transparency of corporate reporting, corporate governance, examining legal and ethical corporate behavior, spotlighting executive accountability, corporate responsibility in global business development, risk assessment and amelioration, resolving conflicting corporate stakeholder interests, and evaluating the role of governmental regulation. In fall 2012, Schepers was appointed Associate Dean of the Zicklin School of Business.

The release of this third annual list coincides with the formal launch of Trust Across America's Campaign for Trust™, a two-year collaborative initiative to reverse the cycle of mistrust in business. Trust Across America publicized and received hundreds of nominations from around the world. The list was narrowed through an extensive vetting and independent judging process.

“The honorees are inspiring organizations to look more closely at their higher purpose...to create greater value for, and trust from, all of their stakeholders,” said Barbara Kimmel, Executive Director. “They understand that trust is an asset that can leverage real business gains. We congratulate all of these leaders whose work is shining a spotlight on the importance of trust and providing a roadmap for others to follow.”

Trust Across America™ (TAA) is a program of Next Decade, Inc., an award-winning communications firm that has been unraveling and simplifying complex subjects for over 20 years. TAA provides a framework for public companies to improve trustworthy business practices, as well as showcasing role models that are exhibiting high levels of trust and integrity.

This year’s recipients hail from around the globe and once again include leaders from the public and private sectors as well as authors, consultants, researchers and academics. Each recipient has made an extensive and positive contribution to building trust in business and many have already joined Trust Across America's Alliance of Trustworthy Business Experts (ATBE), a program that launched in the fourth quarter of 2012 and has already grown to over 150 global experts who are collaboratively joining forces to combat the world's trust crisis.

Dr. Schepers was recognized for his extensive work when he served as Director of the Robert Zicklin Center for Corporate Integrity, which serves as a forum for discussion of a broad range of contemporary issues confronting U.S. corporations and capital markets including: transparency of corporate reporting, corporate governance, examining legal and ethical corporate behavior, spotlighting executive accountability, corporate responsibility in global business development, risk assessment and amelioration, resolving conflicting corporate stakeholder interests, and evaluating the role of governmental regulation. In fall 2012, Schepers was appointed Associate Dean of the Zicklin School of Business.

The release of this third annual list coincides with the formal launch of Trust Across America's Campaign for Trust™, a two-year collaborative initiative to reverse the cycle of mistrust in business. Trust Across America publicized and received hundreds of nominations from around the world. The list was narrowed through an extensive vetting and independent judging process.

“The honorees are inspiring organizations to look more closely at their higher purpose...to create greater value for, and trust from, all of their stakeholders,” said Barbara Kimmel, Executive Director. “They understand that trust is an asset that can leverage real business gains. We congratulate all of these leaders whose work is shining a spotlight on the importance of trust and providing a roadmap for others to follow.”

Trust Across America™ (TAA) is a program of Next Decade, Inc., an award-winning communications firm that has been unraveling and simplifying complex subjects for over 20 years. TAA provides a framework for public companies to improve trustworthy business practices, as well as showcasing role models that are exhibiting high levels of trust and integrity.

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.  For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:
Manny Romero, (646) 660-6141, manuel.romero@baruch.cuny.edu
Mercedes Sanchez, (646) 660-6112, mercedes.sanchez@baruch.cuny.edu
Celene McDermott (646) 660-6134, celene.mcdermott@baruch.cuny.edu

The first year of the Competition was such a success that the Maytree Foundation’s Cities of Migration initiative has recognized Competition THRIVE as part of an international showcase of excellence and innovation in urban integration practice. Due to its success last year, the competition has been renewed for a second year. While the first year of the Competition was primarily focused on soliciting ideas from Community Based Organizations, in the second year, NYCEDC intends to broaden the applicant base by conducting significant outreach to organizations including banks, industry groups, chambers of commerce, foreign diplomatic organizations, tech companies, and private sector organizations and businesses.

“New York City has long gained strength from its immigrant population, and the purpose of Competition THRIVE is to ensure the City’s immigrant entrepreneurs will continue to contribute to our economic growth,” said New York City Economic Development Corporation President Seth W. Pinsky. “Thanks to the success of last year’s competition, we have redoubled our efforts and expanded the competition for a second year. I look forward this year’s program and the opportunity to solicit new and innovative ideas from the private sector that will support the next generation of immigrant entrepreneurs in New York City.”

“The first round of Competition THRIVE demonstrated that investing in our City’s immigrant entrepreneurs and small business owners is a smart way to fuel economic growth and create more jobs for all New Yorkers,” said Commissioner of the Mayor’s Office of Immigrant Affairs Fatima Shama. “Immigrant-owned enterprises make up nearly half of all small businesses in New York City, and they are a fundamental component of our City’s prosperity and competitiveness. Round two of Competition THRIVE will provide an exciting opportunity to build on this initiative’s proven success and enhance the offerings available to the newest New Yorkers as they pursue their dreams of entrepreneurship.”

“The Queens Economic Development Corporation was honored to be the first group awarded $100,000 for Competition Thrive in 2012,” said Seth Bornstein, Executive Director of the Queens Economic Development Corporation. “With these funds we have expanded out Home Improvement Contractor Training program which has helped over 125 contractors, prepare, take and pass the New York City Department of Consumer Affairs Home Contractor Licensing Examination.  As licensed businesses they can take on larger projects, hire more employees and expand their companies.  In essence, they are now part of the mainstream business community and are adding value, expertise and improving the economy of our city.

“Deutsche Bank looks forward to continuing our partnership with the New York City Economic Development Corporation to foster innovative ideas that support immigrant businesses,” said Gary Hattem, President of the Deutsche Bank Americas Foundation.  “The format of the program has proven to be a successful tool in helping to strengthen and diversify New York City’s economy.”

“Immigrant businesses play a critical role in many cities across the country, but despite their importance, providing effective services to this important sector has been challenging,” said Orson Watson, Director of Community Revitalization Programs at the Garfield Foundation. “Because of its history and the diversity of its immigrant population, the Garfield Foundation believes that New York City is an ideal place to seek out and test innovative supports for immigrant business sectors that can be replicated in other parts of the country.”

“After last year’s success, the Field Center is thrilled to continue working on Competition THRIVE,” said Monica Dean, Administrative Director of the Lawrence N. Field Center for Entrepreneurship “As an institution that prides itself in attracting a diverse population, including a great number of first generation students, we are excited to participate in a project that fosters immigrant entrepreneurship.”

New York City’s immigrant population has more than doubled since 1970, from roughly 1.4 million to 3 million, and immigrants now represent nearly 40 percent of the City’s population and 43 percent of the City’s labor force. Immigrants are a significant and important piece of the City’s entrepreneurial economy: immigrants make up 49 percent of all self-employed workers in the City compared to 25 percent in New York State and only 12 percent in the U.S.

Despite their large numbers, immigrant businesses face serious challenges. While immigrant populations have a strong record of opening businesses here in New York City, a greater proportion of immigrant business owners shut down operations within 12 months compared to their non-immigrant peers.  Factors such as limited capacity to plan for long term growth, lack of trust in government programs, fragmentation of resources, immigration status, and language constraints often serve as additional barriers to growth for immigrant entrepreneurs.

Competition THRIVE was launched in 2011 after a year of round-table discussions with community members that made it clear New York City needed to do more to assist immigrant entrepreneurs. In the first year of the Competition, The Queens Economic Development Corporation (QEDC) won the grand prize of $100,000 to expand their pilot foreign language contractor training program, which provided assistance to immigrant home improvement contractors preparing to take the Department of Consumer Affairs licensing test in their native language. The Business Outreach Center (BOC) Network was named the THRIVE runner-up, and received an additional $25,000 matching grant from the Deutsche Bank Americas Foundation and $25,000 from Capital One for their program to increase immigrant entrepreneurs’ access to financing. The BOC Network utilized Competition THRIVE pilot funds to create an online business resource and lending platform using mobile devices, which made the resources and expertise of the BOC Network instantly available to immigrant entrepreneurs in their own neighborhoods.  The three other finalist organizations, ACCION USA, Make the Road NY (MRNY), and Washington Heights and Inwood Development Corporation (WHIDC), each received $25,000 in seed funding for their pilot programs.

All organizations with ideas for facilitating entrepreneurial business and better serving the immigrant community are encouraged to enter a proposal. Organizations will be able to submit their proposals to the competition between February 1 and March 7, 2013. There will be an information session for potential applicants on February 7, 2013.Organizations and potential applicants can learn more about Competition THRIVE and download proposal guidelines at www.nycedc.com/THRIVE. For further information about Competition THRIVE contact Lendynette Pacheco-Jorge at immigrantcompetition@baruch.cuny.edu or 646-312-4799.

Competition THRIVE was one of three new initiatives announced in March 2011 by Mayor Bloomberg to support immigrant-owned businesses. The other two initiatives, also being implemented this year, include a new series of free NYC Business Solution courses in Chinese, Korean, Spanish, and Russian; and a business expo to showcase locally-based manufacturing businesses and link them to customers nationwide.

###

About Baruch College:

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.  For more about Baruch College, go to http://www.baruch.cuny.edu/.

MEDIA CONTACTS:
Nick Kelly, New York City Economic Development Corporation, 212-312-3804, NKelly@nycedc.com

Manny Romero, Baruch College, (646) 660-6141, manuel.romero@baruch.cuny.edu