PaceAcademe

This space is reserved for remarks, comments or analysis of any issue of concern to the Pace community. The Blog is NOT moderated and thus the adminstrator reserves the right to delete any posts that are deemed to be inappropriate either in tone or in contents. Discourse is encouraged as long as it remains civil and constructive. Let the games begin.

Friday, November 17, 2006

Fiduciary Responsibility II

In an earlier post we presented a summary of the basic three fiduciay responsibilities of Board member of not-for-profit in the state of New York. These responsibilities , explained in great detail, by the Attorney General's Office of the State of New York consisit of :

The duty of Care

The duty of Loyalty

The duty of Obedience

Compliance with the above three principles is not as easy as it might look but it is not inordinately difficult either. The law is quite demanding and board members must be willing to be establish policies to monitor and pass judgement on the activities of the institution whose welfare they are being entrusted with.

The following is the way a major authority on New York not-for-profit explains the requisite duty of board members. Loeb and Troper explain that" It is up to the board to determine the feasibility of any plan presented to it...Once it is adopted, the plan must be monitored by the board to ensure that it is being implemented on time, within budget constraints and without side effects that may prove detrimental to the organization's health".

Another pertinent area that the report deals with by giving an actual example is the following:

"We recently heard about an organization that granted substantial salary increases to executives at a time when it was laying off hundreds of employees. As you might guess, the board of this organization was severly critisized in a state audit for abdicating its responsibilities".

17 Comments:

At 8:56 PM, Anonymous Concerned said...

It looks that the law is very unambiguous. The board should have known that the plans were NOT being executed and should have NOT rewarded those who have failed to deliver.

 
At 5:54 AM, Anonymous Anonymous said...

did the board know about student protests in nyc? did they agree to caputo's decision to "dare" them to cross a police barricade, hoping they would walk right into the trap? i wasn't there on wednesday, but all i can say is that they never interfered with my access to 1 pace plaza; i never felt any physical danger from them; they never disrupted my classes. caputo certainly did not have the consent of faculty, students, or staff for what he did. did he have the board's consent? the law is unambiguous. you can't demonstrate on private property or cross police barriers, but why did he feel such measures were necessary? now i'm beginning to feell unsafe on that campus.

 
At 5:56 AM, Anonymous Anonymous said...

I've heard that some (all?) adjuncts have not yet been paid. What is the truth of the matter? What is the board's responsibility with regard to the weakest of faculty members?

 
At 6:52 AM, Anonymous Anonymous said...

bianco must go

 
At 7:53 AM, Anonymous Anonymous said...

The Devil’s Faculty advocate wrote,

The remaining ten days in November will inevitably bring, with much trepidations, immense number of developments to Pace University:

In lieu of the three pillars of fiduciary responsibilities of a Board of Trustees for a University and their possible violations by our Board and their cronies namely, the President/Provost and the rest, The Board will either wake up and take decisive decisions that would not only rectify their retroactive wrong doings, and put the President and associate to their proper place, that is, outside the Pace boundary, or else, the Community has no choice but to take charge and expel the Board and the President and his cabinet through an immediate vote no confidence and… . This may need a huge class action law suit, reporting them to the NYS and Federal Department of Education to audit Pace and intervene in its austerity governance, filing with the State and Federal Attorney Generals for investigations, etc.

So, Faculty, in one word, we the faculty MUST put up or shut up! The most fundamental goal is to save PACE from evils, and that requires,

Put our collective power of intellect, conscience and ethics where our “mouth” is, and that also requires scoffing up to a few thousand dollars each to set up the legal funds to crucial to save Pace. It may even require us to voluntarily accept a pay cut of up to 25% our already enormous base salary!! for a year or two, just to demonstrate our solidarity with our students hurting.

 
At 8:05 AM, Blogger Thomas Paine said...

Anon 5:54,
You bring up a very important point. What role if any did the Board play in the developments that saw five of our students sent to jail just because they were demonstrating without a license? Maybe next time we should have them shot!!!
These students deserve our unqualified support both moral and financial. Please be generous when you are approached on either campus by the student/faculty representatives who are collecting signatures and funds in support of these students.

 
At 9:02 AM, Anonymous Anonymous said...

most responsible by far the chairman and the king; their plans were hatched before the king was crowned!

 
At 9:09 AM, Anonymous Anonymous said...

- Goodbye And Good Riddance ... This guy was a dictator. Let's call a spade a spade. He was a horrible, cold, mean dude.

 
At 5:33 AM, Anonymous Anonymous said...

The shoemaker’s children have no shoes. Bye, bye shoemaker.

 
At 5:40 AM, Anonymous Anonymous said...

the crime of misappropriation ...............................check the federal code.................................it applies to our facts....

 
At 9:57 AM, Anonymous Anonymous said...

golden parachute..............NO! NO!NO!
n. Slang.

An employment agreement that guarantees a key executive lucrative severance benefits.

 
At 10:02 AM, Anonymous Anonymous said...

Please check pre Pace friendship of the chairman and the king.

 
At 8:04 AM, Anonymous Anonymous said...

The Rot at the Center of the Empire

 
At 11:29 AM, Anonymous Anonymous said...

November 15, 2006



Neill Bianco, ’61, Chairman of the Pace University Board of Trustees, issued the following statement in response to the news conference by the chapter of SDS on the University’s Downtown campus:

do not be fooled....glaring omissions

David Caputo was brought to Pace six years ago to effect change at the University – change to advance the reputation of Pace, strengthen the educational experience for students, and create better professional opportunities for students upon graduation.



Dr. Caputo has the unequivocal support of the Board of Trustees.



The faculty has expressed generally-thoughtful concerns about governance issues and internal communication with them. The Board and President Caputo are working on responses that will be thoughtful, too, and will present those before the end of the 30-day schedule the faculty requested.



While we work through current challenges in enrollment and budget, we remind people that Pace University is healthy.



Under Dr. Caputo we’ve kept our salaries competitive with other institutions, kept our benefits generous, and avoided layoffs.


We are bargaining in good faith with our adjunct and part-time faculty members.


Dr. Caputo has led a sweeping restructuring of our information technology systems.


He has led the creation of 15 new faculty positions, bringing teachers and scholars of note and accomplishment to Pace.


With Dr. Caputo’s encouragement, faculty members have increased the yearly total of their sponsored research grants from half a million dollars to seven million dollars.


Sixteen of our students have won Fulbright scholarships for postgraduate work abroad, and we just had our first student ever apply for a Rhodes scholarship.


Annual giving rates among Pace alumni and alumnae have doubled in four years, a sign of their confidence in the University’s mission, direction and goals.


Dr. Caputo’s leadership puts Pace at the forefront of the important national conversation currently taking place on accountability in higher education.


David Caputo is worth what we pay him.



Pace University deserves the best possible discussion by all the members of its community of how to improve the learning and lives of our students. We look forward to continuing conversations on these issues that are vital to the university’s future.

 
At 11:31 AM, Anonymous Anonymous said...

November 15, 2006

HE HAND PICKED HIM WHAT WOULD YOU EXPECT HIM TO SAY.

Neill Bianco, ’61, Chairman of the Pace University Board of Trustees, issued the following statement in response to the news conference by the chapter of SDS on the University’s Downtown campus:



David Caputo was brought to Pace six years ago to effect change at the University – change to advance the reputation of Pace, strengthen the educational experience for students, and create better professional opportunities for students upon graduation.



Dr. Caputo has the unequivocal support of the Board of Trustees.



The faculty has expressed generally-thoughtful concerns about governance issues and internal communication with them. The Board and President Caputo are working on responses that will be thoughtful, too, and will present those before the end of the 30-day schedule the faculty requested.



While we work through current challenges in enrollment and budget, we remind people that Pace University is healthy.



Under Dr. Caputo we’ve kept our salaries competitive with other institutions, kept our benefits generous, and avoided layoffs.


We are bargaining in good faith with our adjunct and part-time faculty members.


Dr. Caputo has led a sweeping restructuring of our information technology systems.


He has led the creation of 15 new faculty positions, bringing teachers and scholars of note and accomplishment to Pace.


With Dr. Caputo’s encouragement, faculty members have increased the yearly total of their sponsored research grants from half a million dollars to seven million dollars.


Sixteen of our students have won Fulbright scholarships for postgraduate work abroad, and we just had our first student ever apply for a Rhodes scholarship.


Annual giving rates among Pace alumni and alumnae have doubled in four years, a sign of their confidence in the University’s mission, direction and goals.


Dr. Caputo’s leadership puts Pace at the forefront of the important national conversation currently taking place on accountability in higher education.


David Caputo is worth what we pay him.



Pace University deserves the best possible discussion by all the members of its community of how to improve the learning and lives of our students. We look forward to continuing conversations on these issues that are vital to the university’s future.

 
At 2:04 PM, Anonymous Anonymous said...

The 52 students enrolled at Pace University's new center in Mount Kisco have attended classes this month in three conference rooms at the Ramada Inn here instead. The school had been expecting 400 students when the center opened Jan. 27. The small enrollment and the need to use the hotel have left Pace officials a bit flustered......................we knew then what we know now the time had come for the man at the top to step down.

 
At 10:19 AM, Anonymous Anonymous said...

Guts are a combination of confidence, courage, conviction, strength of character, stick-to-itiveness, pugnaciousness, backbone, and intestinal fortitude. They are mandatory for anyone who wants to get to and stay at the top. Our question is who has more the chairman and the king or us?

 

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