SoCIal ReSponSIBIlIty In BuSIneSS In The 21St CentuRy

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Center for International Financial Services and Marketsof theFrank G. Zarb School of Businesspresents a conferencein celebration of the 75th anniversary of Hofstra UniversitySocial Responsibility in Businessin the 21st CenturyWednesday, December 1, 2010Noon-6 p.m.Student Center Theater, Sondra and David S. Mack Student CenterNorth CampusConference Program1

Center for International Financial Services and Marketsof theFrank G. Zarb School of Businesspresents a conferencein celebration of the 75th anniversary of Hofstra UniversitySocial Responsibility in Businessin the 21st CenturyWednesday, December 1, 2010STUART RABINOWITZPresident and Andrew M. Boas and Mark L. ClasterDistinguished Professor of LawHofstra UniversityMARILYN B. MONTERChair, Board of TrusteesHofstra UniversityM. PATRICIA ADAMSKISenior Vice President for Planning and AdministrationAdolph G. and Dorothy R. Eckhardt DistinguishedProfessor of Corporate LawHofstra UniversityHERMAN A. BERLINERProvost and Senior Vice Presidentfor Academic AffairsLawrence Herbert Distinguished ProfessorHofstra UniversityPATRICK SOCCIDean, Frank G. Zarb School of Business, Hofstra UniversityHofstra University Presidential Medal ScholarJoseph GrundfestW. A. Franke Professor of Law and BusinessCo-Director, Rock Center for Corporate Governance, Stanford UniversityJoseph G. Astman Distinguished Conference ScholarSheila WellingtonClinical Professor of Management and Organizations, New York UniversityCenter for International Financial Services and MarketsAward for Distinguished Contributions to Women’s Policy ResearchHeidi HartmannPresident, Institute for Women’s Policy ResearchFrank G. Zarb School of Business Conference Co-DirectorsGioia P. BalesCheryl LehmanEsmeralda LynAnil Mathur2Anoop RaiNancy White

SOCIAL RESPONSIBILITY IN BUSINESS IN THE 21ST CENTURYThe devastating effects of the global financial crisis have weakened confidence in corporationsas responsible citizens and intensified interest in corporate social responsibility (CSR).Corporations are challenged to respond with newer models of business relationships andcommitments to their various stakeholders. Business schools, charged with shaping future businessleaders, increasingly recognize the importance of incorporating CSR practices into their curricula.The Center for International Financial Services and Markets of the Frank G. Zarb School ofBusiness, as part of Hofstra’s 75th anniversary celebration, is proud to host this conference to raiseawareness on some of the critical issues facing corporations as they review and reform corporategovernance practices. Sponsored by Broadridge Financial Solutions, Inc., the conference willassemble a group of prominent business leaders, regulators and educators to discuss a range ofissues and ideas to merge business and social interests in the 21st century. The conference will alsodiscuss the challenges facing educators in designing the appropriate curricula to teach corporateresponsibility to business students.11 a.m.-2 p.m.Registration and Coffee12:15-1 p.m.Welcome Patrick SocciDean, Frank G. Zarb School of Business, Hofstra University Presentation of Hofstra University Presidential Medal To Keynote Speaker Stuart RabinowitzPresident, Hofstra UniversityKeynote SpeakerJoseph Grundfest W. A. Franke Professor of Law and BusinessCo-Director, Rock Center for Corporate Governance, Stanford University Corporate Social Responsibility: Why the Concept Is, and Will Always Be,Confusing and Controversial1-2 p.m. Standards of Business Practices in the Marketplace How Should Business Practices and Corporate Governance Changeto Become Socially Responsible?Moderator Nancy White Associate Professor of Finance and Chair, Department of Finance,Frank G. Zarb School of Business, Hofstra UniversityPanelistsScott RechlerChairman and Chief Executive Officer, RXR RealtyGerald HassellPresident, BNY Mellon Corporation3

2-3 p.m.Business, Community and Government What Should Be the New Relationship Between Business, Government and the Community?Moderator Anil Mathur Brodlieb Distinguished Professor of Business, Frank G. Zarb School of Business, Hofstra UniversityPanelistsGerald Bresnick Corporate Vice President, Environment, Health, Safety and Social Responsibility, Hess CorporationScott Budde Managing Director, Asset Management Division, TIAA-CREF3-4 p.m. Teaching Leadership and Ethics in the 21st Century How Should Awareness of Social Responsibility Be Increased in Education and the Community?ModeratorCheryl Lehman Professor of Accounting, Taxation and Legal Studies in Business,Frank G. Zarb School of Business, Hofstra UniversityPanelistsSheila Wellington Clinical Professor of Management and Organizations, New York UniversityJoseph G. Astman Distinguished Conference ScholarHeidi Hartmann President, Institute for Women’s Policy ResearchCenter for International Financial Services and MarketsAward for Distinguished Contributions to Women’s Policy Research4-4:15 p.m.Coffee Break4:15-6 p.m.Broadridge Thought Leadership Panel A New Model for Corporate Transparency and an Open Marketplace in the 21st CenturyIntroductions Esmeralda Lyn Vice Dean and C.V. Starr Distinguished Professor of Finance and International Financial Services,Frank G. Zarb School of Business, Hofstra UniversitySalvatore F. Sodano Senior Executive Adviser to the President, Hofstra UniversityRichard Daly Chief Executive Officer, Broadridge Financial Solutions, Inc.ModeratorFloyd NorrisChief Financial Correspondent, The New York TimesPanelistsRobert B. Catell Chairman, Advanced Energy Research and Technology CenterFormer Chairman, National Grid and KeySpan CorporationCharles Elson Edgar S. Woolard, Jr. Chair in Corporate Governance, University of DelawareJoseph Grundfest W. A. Franke Professor of Law and BusinessCo-Director, Rock Center for Corporate Governance, Stanford UniversityClosingGioia P. BalesRemarks Assistant Dean and Instructor of Finance, Frank G. Zarb School of Business, Hofstra University4

Foundation of Suffolk County, Inc. He received the Ernst & Young 2003Entrepreneur of the Year Award and Arthur Andersen’s worldwide BestPractices Award for “Organization” and “People.”GERALD I. (GERRY) BRESNICK is corporate vice president forenvironment, health, safety and social responsibility at Hess Corporation. Mr. Bresnick joined Hessin June 2001 following 21 years of experience withBP and Amoco Corporations. He has worked onprojects and with various governments, NGOs andinternational agencies. He has served as chair orco-chair of trade association committees dealingwith all areas of health, safety, environment andsocial impact from oil and petrochemical operations and has spoken atvarious national and international meetings and conferences.CHARLES M. ELSON is the Edgar S. Woolard, Jr., Chair in CorporateGovernance and director of the John L. WeinbergCenter for Corporate Governance at theUniversity of Delaware. His fields of expertiseinclude corporations, securities regulation andcorporate governance. He is a graduate ofHarvard College and the University of VirginiaLaw School, and he served as a law clerk to JudgesJ. Harvie Wilkinson III and Elbert P. Tuttle of theUnited States Court of Appeals for the Fourth and Eleventh Circuits.Professor Elson has served on the National Association ofCorporate Directors Commissions on Director Compensation, DirectorProfessionalism, CEO Succession, Audit Committees, StrategicPlanning and Director Evaluation; was a member of its Best PracticesCouncil on Coping With Fraud and Other Illegal Activity; and presentlyserves on that organization’s Advisory Council. He is vice chairman ofthe ABA Business Law Section’s Committee on Corporate Governanceand was a member of its Committee on Corporate Laws.SCOTT J. BUDDE is managing director in the Asset ManagementDivision of TIAA-CREF. In this capacity, he headsTIAA-CREF’s Global Social and CommunityInvesting Department, which is responsible forthe organization’s community investing programsand oversight of its socially screened funds. Inconnection with his management of TIAA-CREF’sGlobal Microfinance Investment Program,Mr. Budde serves as chairman of the board ofdirectors of the International Association of Microfinance Investors(IAMFI), represents TIAA-CREF as a shareholder of ProCredit HoldingA.G., and serves on advisory committees for Catalyst MicrofinanceInvestors, Developing World Markets Microfinance Equity Fund I, theLeapfrog Financial Inclusion Fund and the Core Innovation Capital IFund. Mr. Budde also directly manages TIAA-CREF’s Community BankDeposit Investment Program, which includes TIAA’s deposit relationshipswith leading community development banks in the United States.JOSEPH A. GRUNDFEST is the W. A. Franke Professor of Law andBusiness and co-director of the Rock Center forCorporate Governance at Stanford University.He is a nationally prominent expert on capitalmarkets, corporate governance, and securitieslitigation. His scholarship has been publishedin the Harvard, Yale, and Stanford Law Reviews,and he has been recognized as one of the mostinfluential attorneys in the United States. ProfessorGrundfest founded the award-winning Stanford Securities Class ActionClearinghouse, which provides detailed, online information about theprosecution, defense, and settlement of federal class action securitiesfraud litigation.Professor Grundfest was a commissioner of the U.S. Securitiesand Exchange Commission and served on the President’s Councilof Economic Advisors as counsel and senior economist for legal andregulatory matters. Early in his career, he was a research associate at theBrookings Institution and an economist and consultant with the RANDCorporation. Professor Grundfest is also a co-founder and director ofFinancial Engines, Inc., and a director of KKR Management, LLC.ROBERT B. CATELL is chairman of the Advanced Energy Researchand Technology Center (AERTC) and chairmanof the New York State Smart Grid Consortium.He was formerly chairman of National Grid andchairman and CEO of KeySpan Corporation.Mr. Catell is a member of the board of directorsand a trustee of numerous industry and businessorganizations, including the Colin Powell Centerfor Policy Studies. Hudson Clean Energy FundAdvisory Board, New York Academy of Science (NYAS), and Tomorrow’sHope Foundation.He serves as a member emeritus of Brooklyn Law School, and, untilrecently, he was also a board member of the Brooklyn Public LibraryFoundation, Business Council of NYS, Edison Electric Institute (EEI),Energy Association of NYS, Long Island Foreign Affairs Forum, and amember of the advisory board of HeartShare for Human Services ofNew York.HEIDI HARTMANN is president of the Washington-based Institute forWomen’s Policy Research, a scientific researchorganization that she founded in 1987 to meetthe need for women-centered, policy-orientedresearch. Dr. Hartmann is also a researchprofessor at The George Washington University.She has published numerous journal articles andbooks, and her work has been translated intomore than a dozen languages.Dr. Hartmann is co-author of Still A Man’s Labor Market: The LongTerm Earnings Gap; Unnecessary Losses: Costs to Americans of the Lackof Family and Medical Leave; Equal Pay for Working Families; and Survival at the Bottom: The Income Packages of Low-Income Families WithChildren. She lectures widely on women, economics, and public policy,frequently testifies before the U.S. Congress, and is often cited as anauthority in various media outlets.RICHARD J. DALY is CEO of Broadridge Financial Solutions, Inc., anda member of the Broadridge board of directors.Prior to his current role, he served as grouppresident of the Brokerage Services Group ofADP, a member of the Executive Committee, anda corporate officer of ADP since June 1996.Before joining ADP in 1989, Mr. Daly was withThomson McKinnon Securities, The IndependentElection Corporation of America, Arthur Andersen& Co., and Touche Ross & Co. He is a certified public accountant.Mr. Daly attended the Harvard Business School’s Young President’sProgram from 1996 to 2004, thereby successfully completing thePresident’s Program in Leadership. He is a member of the board oftrustees of New York Institute of Technology, and a founding memberand honorary director of the board of directors of the Make-A-Wish5

GERALD HASSELL is president of BNY Mellon Corporation, a globalfinancial services growth company operating in36 countries and serving institutions and highnet-worth individuals in more than 100 marketsworldwide. Mr. Hassell oversees the company’sbroad range of securities servicing businesses,including asset servicing and issuer, broker-dealer,treasury and clearing services. Prior to the mergerof The Bank of New York Company, Inc. and MellonFinancial Corporation in July 2007, Mr. Hassell was president of TheBank of New York.Mr. Hassell is chairman of the board of visitors of The Fuqua Schoolof Business at Duke University; a member of the board of visitors ofColumbia University Medical Center; and a member of the boards ofthe New York Philharmonic, the Economic Club of New York, and theNational September 11 Memorial & Museum.SCOTT RECHLER is chairman and CEO of RXR Realty LLC, amultibillion-dollar private real estate company thatwas formed subsequent to the merger of RecksonAssociates Realty Corp with SL Green, one of thelargest public real estate management buyouts inREIT history.Mr. Rechler’s vision and leadership as chairmanand CEO guided Reckson during its years ofdynamic growth throughout Long Island, NewJersey, New York City, Westchester and Connecticut, overseeing inexcess of 6 billion in acquisitions and developments and managingmore than 20 million square feet of commercial property in New York’stri-state area.Mr. Rechler serves as a board member of the Association for aBetter Long Island, board member of the Association for a Better NewYork, and member of the Hofstra University Honors College AdvisoryCommittee and the NYU Real Estate Institute Advisory Committee.FLOYD NORRIS was named chief financial correspondent for TheNew York Times in 1999, after spending morethan a year as a member of The Times’ editorialboard. He joined the paper in 1988 as a financialcolumnist.Before joining The Times, Mr. Norris had beenwith Barron’s National Business and FinancialWeekly since December 1982; he began as a staffwriter and subsequently was promoted to stockmarket editor. He began writing “The Trader” column in mid-1983 andwas cited by the New York Society of Certified Public Accountants foroutstanding reporting on accounting issues in 1984. In 1998 Mr. Norriswas honored by the Financial Writers Association of New York foroutstanding lifetime achievement.Mr. Norris attended the University of California in Irvine. He wasa Walter Bagehot Fellow in Economics and Business Journalism atColumbia University for two terms and earned an M.B.A. in 1982.SHEILA W. WELLINGTON was appointed clinical professor ofmanagement and organizations at the NYULeonard N. Stern School of Business in September2003. A leader and advocate on behalf of womenin business, Ms. Wellington currently teachesa course she developed, Women in BusinessLeadership. For 10 years, she was president ofCatalyst, the preeminent nonprofit organizationdedicated to women’s private sector leadership.Ms. Wellington is the author of Be Your Own Mentor, a highlysuccessful book focusing on issues of organizational change andwomen’s advancement. A nationally recognized speaker on these andrelated topics, she is a board member of the Institute for Women’s PolicyResearch and The Transitions Network and serves as a commissionerof the New York City Commission on Women’s Issues. Ms. Wellingtonreceived the Distinguished Alumnus Award from the Yale School ofPublic Health in 2002 and was inducted as a Fellow of the NationalAcademy of Human Resources.Prior to Catalyst, Ms. Wellington served as vice president andsecretary of Yale University. A Phi Beta Kappa graduate of WellesleyCollege, Ms. Wellington earned concurrent master’s degrees in publichealth and urban studies at Yale University.THE HONORABLE PAUL H. O’NEILL was appointed the 72ndsecretary of the U.S. Treasury Department in 2001by President George W. Bush and served in thiscapacity until December 2002.He was previously chairman and CEO ofAlcoa from 1987 until his retirement as chairmanat the end of 2000. Prior to joining Alcoa, hewas president of International Paper Company.His unique experience transforming an oldeconomy firm into a new economy success has been chronicled as astudy by Harvard Business School. Mr. O’Neill gained valuable insightsinto international finance and the global economy as head of a majorcorporation with 140,000 employees that span 36 nations. Hismastery of federal budget details and process stems from his tenure atthe U.S. Office of Management and Budget (OMB). He joined OMB in1967, and was deputy director of OMB from 1974 to 1977. After workingwith the OMB, he left the U.S. government in order to pursue businessinterests in the private sector.Through his U.S. Treasury tenure, Mr. O’Neill utilized the department’sresources to fight terrorist financing. He was also an outspoken criticon the complexity of the nation’s tax code. He believed the code’scomplexity was inhibiting personal as well as corporate growth inAmerica and became one of the administration’s leading advocatesfor its change.Mr. O’Neill has served on a wide variety of committees, includingthe American Red Cross, Committee for Economic Development, JointCouncil on Economic Education, Institute for International Economics,and National Leadership Commission on Health Care.Socially responsible initiatives at this conference havebeen organized and administered by the Corporate SocialResponsibility Association of the Frank G. Zarb School of Business.6

hofstra at a Glancehofstra board of trusteesLOCATION: Hempstead, Long Island, 25 miles east ofNew York City. Telephone: (516) 463-6600As of October 2010OFFICERSMarilyn B. Monter,* ChairAlan J. Bernon,* Vice ChairDavid S. Mack,* Vice ChairJoseph M. Gregory,* SecretaryStuart Rabinowitz, PresidentCHARACTER: A private, nonsectarian, coeducationaluniversity.FOUNDING DATE: 1935PRESIDENT: Stuart Rabinowitz, J.D.MEMBERSGeorge W. Bilicic, Jr.Tejinder BindraRobert F. Dall*Helene FortunoffMartin B. Greenberg*Leo A. GuthartPeter S. Kalikow*Abby KenigsbergArthur J. KremerKaren L. LutzDonna M. Mendes*Janis M. Meyer*John D. Miller*Martha S. PopeJames E. Quinn*Edwin C. ReedRobert D. Rosenthal*Debra A. Sandler*Thomas J. Sanzone*Peter G. SchiffJoseph Sparacio*Frank G. Zarb*COLLEGES AND SCHOOLS: Hofstra College ofLiberal Arts and Sciences; Frank G. Zarb Schoolof Business; School of Communication; School ofEducation, Health and Human Services; School ofLaw; School for University Studies; Hofstra UniversityHonors College; Hofstra University ContinuingEducation; and Hofstra North Shore-LIJ School ofMedicine at Hofstra University.FACULTY (including librarians): There are 1,180faculty members, of whom 544 are full-time. Ninety-onepercent of full-time faculty hold the highest degree intheir fields.STUDENT BODY: Full-time undergraduate enrollmentof 7,327. Total University enrollment, including parttime undergraduate, graduate and School of Law, isapproximately 12,100. Male-female ratio is 45-to-55.DEGREES: Bachelor’s degrees are offered in about140 program options. Graduate degrees, includingthe Ph.D., Ed.D., Psy.D., Au.D., J.D., and M.D., advancedcertificates and professional diplomas, are offered inapproximately 150 program options.THE HOFSTRA CAMPUS: With 115 buildings and 240acres, Hofstra is a member of the American PublicGardens Association.DELEGATESGregory Maney, Speaker of the FacultyWilliam F. Nirode, Chair, University Senate Executive CommitteeStuart L. Bass,* Chair, University Senate Planning and Budget CommitteeJames Wells, President, Student Government AssociationLukas Miedreich, Vice President, Student Government AssociationFrederick E. Davis, Jr.,* President, Alumni OrganizationLIBRARIES: The Hofstra Libraries contain 1.2 millionprint volumes and provide 24/7 online access to morethan 90,000 journals and books.James M. Shuart,* President EmeritusWilbur Breslin, Trustee EmeritusEmil V. Cianciulli,* Chair EmeritusJohn J. Conefry, Jr., Chair EmeritusMaurice A. Deane,* Chair EmeritusGeorge G. Dempster,* Chair EmeritusJoseph L. Dionne,* Trustee EmeritusBernard Fixler,* Trustee EmeritusFlorence Kaufman, Trustee EmeritaWalter B. Kissinger, Trustee EmeritusAnn M. Mallouk,* Chair EmeritaThomas H. O’Brien, Trustee EmeritusArnold A. Saltzman, Trustee EmeritusNorman R. Tengstrom,* Trustee EmeritusACCESSIBILITY: Hofstra is 100 percent programaccessible to persons with disabilities.JANUARY AND SUMMER SESSIONS: Hofstra offersa January session and three summer sessions betweenMay and August.Hofstra University continues its commitment to extending equal opportunityto all qualified individuals without regard to race, color, religion, sex, sexualorientation, age, national or ethnic origin, physical or mental disability,marital or veteran status in employment and in the conduct and operationof Hofstra University’s educational programs and activities, includingadmissions, scholarship and loan programs and athletic and other schooladministered programs.*Hofstra Alumni28257:11/107

assemble a group of prominent business leaders, regulators and educators to discuss a range of issues and ideas to merge business and social interests in the 21st century. The conference will also discuss the challenges facing educators in designing the appropriate curricula to teach corporate responsibility to business students.