Video of the Parsons The New School for Design annual fashion show at the Grand Hyatt New York. The event honors Susan D. Kronick, vice chairman of the Federated Department Stores, Inc. The President of The New School, Bob Kerrey, opens the benefit, introducing former President of the United States, Bill Clinton, a guest at the benefit. Clinton introduces designer Oscar de la Renta, honoring him for his humanitarian activities. De la Renta, recipient of the 2006 Parsons Award, presents the 2007 Parsons Award to Kronick. A tribute video to Kronick follows. Kerry then introduces Tim Marshall, executive dean of Parsons. William L. McComb, chief executive officer at Liz Claiborne, Inc., endows a scholarship in honor of Tim Gunn, honorary chair of Parsons Fashion Design and chief creative officer at Liz Claiborne, Inc. Kerry introduces Sheila C. Johnson, trustee of The New School and chair of Parsons Board of Governors. Gunn speaks. The fashion show follows. The video concludes with a procession of the class of 2007.