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January 18, 1980 - Image 3

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Publication:
The Michigan Daily, 1980-01-18

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The Michigan Daily-Friday, January 18, 1980-Page 3,
CONSULTANTS EVALUA T E FINANCIAL MANAGEMENT

Regent
By SARA ANSPACH
During these days of double-digit in-
flation, there comes a time when you
have to decide how to get the most for
your money.
For the Regents, yesterday was such
a day, At its monthly meeting yester-
day afternoon, the Board heard
representatives from a financial
evaluation service present an analysis
of the University's investment
management.
DIRECTED BY the Regents in
November, 1978 to evaluate the invest-
ment of University endowment funds,
Financial Control Systems Division
(FCS) of First of Michigan Corporation
informed the Regents yesterday that
the University's investment manager,
the National Bank of Detroit (NBD),
has performed as well or better than
other similar money managers.
The University's endowment funds

is exanine invest

consist of gifts and grants given to the
University from individuals, private
foundations and corporations. About 60
per cent of this money is invested in
equities (stocks) and 40 per cent in
fixed income (bonds). The income
generated from this capital is part of
the University's operating budget and
is used to fund University programs.
In past years, the University has
spent all income from its endowment
investments. The Regents now are con-
sidering reinvesting part of that income
to increase their equities. A larger
principal, would, in turn, generate
more income for the University..
"YOU ARE spending future principal
(when the University spends all of its
income)", FCS consultant Ned
Joachimi told the Regents yesterday.
"In today's world, you cannot spend all
of your income."
Vice-president for Financial Affairs

James Brinkerhoff said the University
chief executives will be evaluating the
impact on the operating budget in the
short run if the University should adopt
a policy which places less emphasis on
income and more on capital growth.
Also yesterday during the public
comments session, Diane Allevato of
the Huron Valley Humane Society, ad-
dressed 'the Regents about the cat
killing incident at Alpha Delta Phi and
accused the University of trying to be a
"protective parent" of the five young
'men who pleaded no contest yesterday
to the charges of torturing and killing
their fraternity's pet. (See related
story, Page 1).'
Washtenaw County Coalition Against
Apartheid (WCCAA) members' Anne
Fullerton, Debbie Duke and Phillip
Hartford also presented the Regents
with a scenario of South Africa under
the Sullivan Principles and said WC-

mnents
CAA will return at the Regents March
meeting, when, according to Fullerton,
the Regents will review their policy
toward divestment.
In addition, three members of their
South University Merchants-
Association, Edward Roberts, Rick
Butts, and Fred Ulrich, attempted t6
persuade the Regents to sell a piece of-
property at Forest and Washtenaw to a"
development company which wishes to
build a 36-story high rise building with
space for a hotel, apartments,-and con-
dominiums.
LIKE TO TRAVEL BUT
CAN'T FIND THE $$ ?
Live/east with fellow students
from all over the world.
An unusual cultural opportunity at the
Friends Infernational Coop.
See ad above

OT SU

Daily Photo by CYRENA CHANG
STAFF MEMBERS of the LSA Coalition for the Use of Learning Skills
(CULS) met with students yesterday at the Trotter Minority Student Center
to celebrate CULS's 10 year history.
Scelebrates 10
years of ''servce

OT

01

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PAY,
ESI

OT TUES

By JULIE BROWN
The Coalition for the Use of Learning'
Skills (CULS) marked its tenth an-
niversary yesterday afternoon with an
,open houseat the Trotter Minority
Student Center.
Ten years ago, Black Action
ovement strikers demanded the
University offer academic support ser-
vices for minority students. One of the
outcomes of this demand was the CULS
program in LSA.
"WE SERVE ANY student in the
college, and also some in Rackham,"
said John Russ, CULS director. "We
don't have a permanent body of studen-
ts, except for our Bridge Program. The
regular CULS programming is on an
es-needed basis."
The CULS Bridge Program brings 50
Opportunity Program stfdents to the
University for a summer-half term
before their first year, Russ said.
The Opportunity Progam, under the
Office of Academic Affairs, provides
educationally disadvantaged students
with a variety of counseling services.
"THE BRIDGE Program is for
students with the potential for success
with marginal, aid," Russ said. He ex-
lained that Bridge Program students
ake basic courses in English and
statistics, as well as a series of reading
and writing workshops offered through

the University's Reading and Learning
Skills Center.
Other CULS units are: the
SMathematics Instruction, Quantitative
Skills, and Study Group Component;
the. English Instruction and Com-
municative Skills Component; the
Hispanic-American Student Services
Component; and the Experiential
Education and Learning Component.
CULS Associate Director Wilton
Barham explained that CULS was
originally staffed exclusively by'
student volunteers.
"AT ONE TIME, we were fully staf-
fed by students," he said. He added the
CULS acquired-its first full-time direc-
tor in 1974, and staff salaries were
provided for at that time.
"Now, all of our staff, with a few ex-
ceptions, are paid," Russ said. He ad-
ded that CULS is staffed by ap-
proximately 60 people, including ad-
ministrators and graduate student
teaching assistants.
Russ estimated that CULS serves ap-
proximately 3,000 students in oneyear.
"THE MAJORITY of students we
serve are minorities, but we have a
very large proportion of non-minority
students in some areas, such as the
study groups," Russ said. He estimated
See CULS, Page 8

OT

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iYAI

FILMS

EVERYTHING 5% to 40% OFF
OF OUR EVERYDAY LOW PRICES
SATURDAY 10 AM TO 9 PM
THESE ARE JUST A FEW OF THE MANY "SATURDAY ONLY" BARGAINS:

School of Public Health-Noontime Film Fest, Can We Fish Again?,
Pigeon River Forum, Aging of the Lakes, 12:10 p.m., SPH Aud. II.
Mediatrics-Jeremiah Johnson, 7 p.m., The Candidate, 9 p.m., Nat. Sci.
Aud.
Alternative Action Film Series-Sleuth, 7,9:30 p.m., Angell Hall Aud. A.
Ann Arbor Film Coop -Blazing Saddles, 7, 8:40, 10:20 p.m., Modern
Languages Building Aud. 4.
Gargoyle Films-Freaks, 7:07, 9:39 p.m., Dracula, 8:18 p.m., 100 Hutchins
Hall.
Astronomical Film Festival-Skylab Space Station I, Predictable
Disaster, The Case of the Bermuda Triangle, 7:30 p.m., MLB Aud. 3.
SPEAKERS
WUOM-Prof. Richard Falk, Princeton University, "Technology and
Politics: Shifting Balances," 9:55 a.m.
Center for South and Southeast Asian Studies-John Whitmore, "Vietnam,
China, Cambodia: Manifest Destiny?," noon, Lane Hall Commons Room.
Philosophy Department-Prof. Ruth Barcan Marcus, "Moral Dilemmas
and Consistency," 4 p.m., MLB Lec. Rm. 2.
School of Metaphysics-"Karma: What Is It?," 7:30 p.m., 219%12 N. Main
St.
Hillel-Rabbi Edward Feld, "The Holocaust and After: Theological
Reflections," 8 p.m., 1421 Hill St.
EXHIBITS
Slusser Gallery-"Art/Book/Art," Watercolors, acrylic paintings, and
collages, Prof. William Lewis, 9 a.m.-4:30 p.m., Slusser Gallery.
Union Art Gallery-"Ceramics, Sculpture, and Printmaking," Joan
Gallup and Paulene Benio, 10 a.m.-6 p.m., Union Art Gallery.
PERFORMANCES
Midwestern Conference on School Vocal and Instrumental
Music-"Collage Concert," 8p.m., Hill Aud.
Folklore Society/Friends of Traditional Music-Musical and social
gathering, 8:30 p.m., 2755 Canterbury.
The Ark-Peter 'Mudcat' Ruth, 9 p.m., 1421 Hill St.
MISCELLANEOUS
University Club-Self-serve continental breakfast, 7 a.m.-10:30 a.m., self-
serve lunch, 11:30 a.m.-1:30 p.m., bar open, 11:30 a.m.-2 p.m., 4 p.m.-7 p.m.

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3-WAY SPEAKERS
10-inch cone woofer, cone
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Bass reflex. Regular $119.48.

12 MAXELL UDC60
CASSETTE TAPES,
High quality, low noise blank
cassette tapes. Regular $29.88.
Limit 24 tapes per customer.
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Elliptical stylus tracks 3/4 to
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