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January 07, 2005 - Image 3

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The Michigan Daily, 2005-01-07

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NEWS

The Michigan Daily - Friday, January 7, 2005 - 3

. ON CAMPUS
School of Music
faculty to play
Mozart, others
. Professors from the School of Music
will perform tonight at the Britton
Recital Hall in the School of Music at
8 p.m. They will play Mozart, Brahms,
Berio, Horvit and Glinka.
Performing will be Fred Ormand on
the clarinet, Christopher Hading on the
piano, Katherine Votapek on the viola,
Julia Broxholm as a soprano and Rich-
ard Beene on the bassoon.
For more information, contact Rachel
Francisco at 764-0594 or e-mail her at
rachaf@umich.edu.
Organ recital
slated for tonight
Ben LaPrarie will play the organ
tonight at 8 p.m. at Hill Audito-
rium. For more information, contact
the School of Music through Rachel
Francisco at 764-0594.
Warren Robbins
Gallery to host
performance
Artists Christa Donner, Robert
Goodman, Andrea Landau, Jason
Yah and Chris Landau explore the
"delinquint systems of the domestic,
the body, the senses, landscape and
technology." The performance will
take place from 6 to 9 p.m. tonight in
the Warren Robbins Gallery at the Art
a and Architecture. For more informa-
tion, contact Kate West at 763-1265.
CRIME
NOTES
Vehicle damaged,
police deem
incident malicious
A vehicle was damaged Tuesday
in a parking lot at 1170 West Medical
Center, according to Department of
Public Safety reports. DPS called the
incident "malicious destruction." The
investigation is continuing.
Basketball player
injured at CCRB
A person playing basketball was
injured at the Central Campus Rec-
reation Building Wednesday night
at about 7 p.m, according to DPS
reports.
Personal item
swiped from Mott
A personal item was stolen from C.S.
Mott Children's Hospital Wednesday
afternoon, according to DPS reports.
The alleged crime occured at about 1
p.m.

Theft occurs at
residence hall
A caller told DPS that his property
had been stolen from South Quad Res-
idence Hall. The incident was reported
Wednesday at 4:16 p.m.
THIS DAY

Students take
reins of King
symposium

Colleges see larger payoffs
on investments this year

By Christina Hildreth
Daily Staff Reporter
This year's annual Reverend Dr.
Martin Luther King Jr. Symposium
will, for the first time, be completely
on the shoulders of students
The symposium, which opens on
Monday, has been taking place at the
University since 1987. Previously, it
had been largely organized and run
by University staff.
Past years' celebrations have been
undercut by student indifference
toward Martin Luther King Day,
organizers say. As the holiday forms
a three-day weekend, many students
use that opportunity to go home, or
simply take the day off school.
"Unfortunately, to a lot of people
that is just what it is (a day students
get to go home). As much as we can
do to educate people about what's
going to be out there, to some it's still
just a day off," said LSA freshman
Jasmine Floyd.
Silvia Carranza from the Office of
Academic Multicultural Initiatives
said this year's greater student par-
ticipation aims to correct that, get-
ting students involved right from the
planning stages.
"The reality of MLK day is that it's
a day off for students. But the reason
it's a day off is so that people can
attend (the events)," Carranza said.
"There are 22 events taking place on
MLK day alone. It's not just for the
benefit of staff - we want to make it
more enticing for students to be able
to take part in it."
Over the past three years, students
have taken increasingly involved roles
in planning the theme and events to
celebrate King's life and philosophy.
This year is "for students, by stu-
dents," Carranza said.
The symposium's opening event,
"A Tribute to a King," is a free show-
case performance at the Mendels-
sohn Theatre planned by students.
The show will feature various student
groups commemorating King through
spoken word, dance and drama.
"We put the show together, we con-
tact different groups and we adver-
tise for it," Alicia Benavides, an LSA
sophomore and student staff member
for the symposium said. She is one
of five students in charge of planning
the month-long celebration
Each year the planners of the sym-
posium address a different angle of
King's life and work. This year the
planning committee settled on the
theme "The Simple Art of Living
Together," inspired by a quote taken
from one of King's sermons.
"We have learned to fly the air like
birds and swim the sea like fish, but
we have not learned the simple art of
living together like brothers," King
said in the 1961 sermon.

(AP) The investment portfolios
of colleges, universities and other
educational institutions enjoyed
their best year since the stock mar-
ket downturn began, according to a
new survey that shows educational
nonprofits recovering in fiscal 2004
after several years of losses or mea-
ger gains.
The 707 endowments surveyed
by the research arm of Common-
fund, which helps manage money
for 1,600 nonprofit institutions and
foundations, earned an average of
14.7 percent in the 12 months ending
June 30.
That compared to investment
gains of 3..1 percent in 2003, and
losses in the two years prior to that.
Since most educational nonprofits
use about 5 percent of their assets
per year to support operations, many
institutions had spent several years
treading water at best.
"It certainly is a helpful rebound.
It doesn't put nonprofits out of the
woods yet because their budgets
were severely tested and squeezed
during the bear market," said John
Griswold, executive director of the

MLK

Commonfund Institute.
Respondents to the survey includ-
ed colleges and universities as well
as independent secondary schools
and private education foundations.
The survey, released yesterday,
also found that the best-performing
endowments have generally been
shifting money away from hedge
funds, suggesting the "smart money"
that led the charge into these invest-
ments several years ago may be
looking elsewhere now that they
have become trendy.
Overall, however, the survey
revealed few dramatic changes in
how nonprofits are investing their
money. _Average allocations to
domestic stocks (31 percent), fixed
income (15 percent), internation-
al stocks (16 percent) and cash (4
percent) were all within a few per-
centage points of the figures in last
year's survey.
The best-performing endowments
were more heavily concentrated in
investments such as real estate and
energy, the survey found.
Some of the wealthiest educa-
tional endowments have already

reported their results for last year.
Harvard University, the world's rich-
est, earned a 21.1 percent return on
its investments to bring its endow-
ment's total value to $22.6 billion in
the year ending June 30. Yale, the
No. 2 private university endowment,
earned 19.4 percent and stands at
$12.7 billion.
For universities and colleges,
much of the money is set aside and
can only be used for specific pur-
poses - scholarships, for instance,
or endowed professorships.
The surveyed institutions con-
tinued to spend about the same
percentage of their endowment on
operating costs -- 4.8 percent last
year, compared to 4.9 percent in fis-
cal 2003 and 5.1 percent in fiscal
2002. Some public schools dipped
more aggressively into their savings
to help weather state budget cuts.
The institutions surveyed said
they don't expect to do as well in
fiscal 2005, predicting investment
gains of 7.9 percent.
Forty-two percent of responding
institutions reported an increase
in gifts received during the year,

2005
This year's symposium will high-
light some of King's ideas that often
take a backseat to his groundbreak-
ing work with civil rights.
"People are definitely used to
hearing about his ideas on civil rights
issues," Carranza said. The plan-
ning committee wanted to choose a
theme that would explore "sides of
Dr. Martin Luther King that people
weren't so used to hearing about,"
she said.
Such ideas include King's Poor
People's Campaign, which was to be
the beginning of King's crusade on
class issues. The campaign, which
King planned shortly before his death
in 1968, was launched by his follow-
ers after his assassination but failed
to gain momentum in the absence of
his leadership.
The symposium will also explore
King's Christian theologies, his work
to open dialogue about social issues
and his ideas on peaceful protest.
"Everything King did was rooted
in the Christian philosophy that he
held so dear to his heart," Carranza
said, adding that King's ability to ini-
tiate a national conversation on civil
rights can serve as a model to rectify
the current polarization in American
public opinion.
The symposium consists of over 90
events addressing these topics, rang-
ing from one-hour lectures to week-
long exhibits
The three main events sponsored
by the symposium's planning com-
mittee are the opening performance
on Monday, a memorial lecture given
by former Secretary of Housing and
Urban Development Henry Cisneros
and a closing lecture given by black
activist and author Walter Mosley.
Other events include lectures,
photography exhibits, interactive
museums and musical dramatic per-
formances.

In Daily

History

'U' faces fine for
radioactive spill in
Med Sci 1 Building
Jan. 7, 1993 - University officials
met with lawyers to decide whether
or not to pay a fine for a radioactive
chemical spill.
The U.S. Nuclear Regulatory Com-
mission had given the University until
Jan. 13 to pay or contest the $3,750
penalty.
The NRC proposed the fine after
investigating an incident in which a
graduate student accidentally spilled a
chemical in early September 1993. The
small amount of radioactive phospho-
rus was not detected until three days
after the student researcher spilled it

OIP Summer Study Abroad Fair
Thursday,January 13,2005
3 to 5 p.m.
Pendleton Room, Michigan Union

2004 Study Abroad Photo Contest Grand Prize Winner
Moll;**Zipkin

I

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