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September 16, 2008 - Image 1

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The Michigan Daily, 2008-09-16

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Ann Arbor, Michigan
p THE SATELLITE CAMPUSES
Enrollment
at U-M Flint
Dearborn at
all-time high
Campuses add new programs,
on-campus housing in effort to
lose commuter-school image
ByKELLY FRASER
Daily News Editor
In recent years, the University's satellite cam-
puses in Flint and Dearborn have tried to rein-
vent their commuter-college images by expanding
recruitingefforts,offeringnew academic programs
and developing on-campus housing options.
And with both campuses reporting record
freshman class sizes this year, the effort seems to
be paying off.
Enrollment for the freshman class at the Uni-
versity of Michigan-Flint has surged by almost
50 percent this year. According to estimates from
a 10-day head count, there are 909 first-year stu-
dents enrolled this fall, a 45.2 percent increase
from last year's class of 626 students.
The surge in numbers bumped up the campus's
overall enrollment by about 5.5 percent.
Freshman enrollment at the University of Mich-
igan-Dearborn is up about 7 percent and 3 percent
overall, according to estimates from Dearborn
See CAMPUSES, Page 7
SATELLITE GROWTH
Freshman enrollment at both of the University's satellite
campuses climbed sharply this year.
U-M FLINT FRESHMAN CLASS SIZE,2004-2008
1000
500
0
2004 2005 2006 2007 2008
U-M DEARBORN FRESHMAN CLASS SIZE, 2004-2008
1000
500_
0 '

Tuesday, September 16, 2008

michigandaily.com
FROM CAPITAL MARKETS TO THE JOB MARKfT
Wall Street
shake-up
jolts student
career plans
After Lehman Brothers collapse yesterday,
some students scrambling for another job

Ross School of Business MBA student Vlad Negrut studied in the school's newly unveiled building yesterday.
Business schools
building unvebled

By LINDY STEVENS C
Daily StaffReporter T
Across campus yesterday, R
some aspiring investment bank- t
ers lost their dream jobs beforeV
they even began. The prospect t
of post-graduation employment
with financial giant Lehman
Brothers dissolved for them
when the investment bank filed
for bankruptcy early Monday.
Lehman's collapse is only the
latest addition to the turmoil
that has gripped the American
financial industry over the past.
year. left many business-mind-
ed students worried about their
futures.
Merrill Lynch announced
yesterday it would sell itself to
Bank of America for $50 billion,
effectively spelling the end of
the venerable brokerage. And in
March, Bear Stearns, another
Wall Street mainstay, accepted
an offer from JPMorgan Chase-
to be sold for $10 a share -
about a tenth of what it once
was worth less than a year ago.
The Dow Jones Industrial Aver-
age yesterday posted its sharpest
decline since the aftermath of the
Sept. 11, 2001 terrorist attacks.
For - some business-bound
University students, includ-
ing at least four undergraduates
and four graduate students who
interned at Lehman this summer,
the nosedive in the American
financial markets means they're
plunging into one of the worst
Wall Street job markets in recent
history.
It also means that those for-
mer Lehman interns can't return
to the Manhattan-based bank
where they often put in upwards
of 90 hours a week, all in hopes of
securing a coveted job offer.
Lehman was hit hard by the

DIMINISHING RETURNS
Though investment banking drew more
Ross School of Business undergraduates
han any other financial field last year,
Wall Street's struggles might change
hat.

Students get first taste of
$145-million building,
slated to open late this year
By KYLE SWANSON
Daily StaffReporter
Stephen M. Ross School of Business stu-
dents, faculty and staff got their first glimpse
of the school's new $145-million new home
yesterday afternoon.
The school opened up a small section
of the building, which included a student
lounge, two conference areas and a medita-
tion room.
Much of the funding for the new building
comes from a $100 million donation from
real estate developer and business school

alum Stephen M. Ross in 2004. The gift,
of which $75 million was used in the con-
struction project, is the largestin University
history and is the largest ever given to a busi-
ness school in the United States.
Since the spring of2006, when the school's
old building was torn down to make room for
the new facility, Business school faculty and
students have been using classroom space in
Mason Hall and other building around cam-
pus.
Classes in the new building are slated to
begin next semester.
The 270,000-square-foot building will
include twelve classrooms with stadium
seating, an auditorium, faculty offices, offic-
es for advisers and tutors, a fitness center,
space for team based learning projects and
a food court.
See BUSINESS, Page 7

KEY
┬░Investment bankingt-49.7%
Inoestment management - 8.9%
Corporatefinance - 22.7%
Salestrading -9.7%
Other finance - 8.7%
OUCE:iRnOSSCHOOL OF BUSINESS
aftershocks of a decline in U.S.
home prices that startedlastyear.
That led to defaults on loans and
caused the value of assets backed
by mortgages to plummet. Those
woes spread throughoutthe glob-
al financial system, causing firms
like Lehman to post massive loss-
es and writedowns on assets.
Yesterday morning, the firm
filed for Chapter 11 bankruptcy
protection. Though it's in talks to
sell parts of its business and most
employees haven't officially been"
laid off, one thing is clear: Leh-
man Brothers will soon cease to
exist in any recognizable form.
Along with the thousands of
former Lehman employees now
looking for work are the firm's
See WALL STREET, Page 3

2004 2005 2(
Note: Theenrolmentfiguresfor2008and
Dearborn in 2006 are based on estimates.

SOURCE:UNIVERSITY
OF MICHIGAN

LSA THEME SEMESTER
* Keynote speaker urges
students to live 'green'

For campus sororities,
this week's a rush

Former CEO calls
for increased focus
on environment
By ELAINE LAFAY
Daily StaffReporter
To kick off the College of Lit-
erature, Science and the Arts's
Fall 2008 "Energy Futures"
theme semester, the former CEO
of Physicians for Social Respon-
sibility stressed yesterday that
environmental issues needed
to figure more prominently in
today's political discourse.
In a lecture titled "Hope for
a Heated Planet," Robert Musil
told an audience of about 200 at
the Rackham Graduate School
auditorium that grassroots mobi-

lization and individual action
were necessary to curb climate
change.
Noting that environmental
activism "doesn't necessarily
make the big national media," he
encouraged grassroots student
campaigns, claiming activism
will eventually make its way up
the ranks to powerful legislators.
He said students should pres-
sure University President Mary
Sue Coleman to sign the Presi-
dents Climate Commitment, a
national coalition of 540 presi-
dents of colleges and universities
to make their campuses carbon
neutral.
"That's the kind of thing that
should be a goal here at Michi-
gan," he said.
He also encouraged students
See KEYNOTE, Page 7

Prospective sisters
visit all 15 Pan-Hel
houses to find a fit
By JILLIAN BERMAN
Daily StaffReporter
Don't be alarmed by any loud
chanting or singing coming from
large houses near campus this
week - It's just the start of rush.
During the Panhellenic Associa-
tion's sorority recruitment, usually
called "rush," University students
participate in events that let them
learn about the houses in four
rounds. "Rushes" rank their top
choices for a house throughout the
process, while sisters in the house
simultaneously rank the rushes
they think would best fit in the
sorority.

Sorority recruitment may seem
like a song and dance to onlookers,
but to both sisters and rushes, the
process can be grueling.
"I had no idea what a huge pro-
duction it was," said LSA freshman
Maya Massing-Schaffer, who was
amongthe groups of students wait-
ing outside the sorority houses on
Hill Street last night.
She also walked through the
pouring rain on Sunday to meet the
sisteres and be wooed by the elabo-
rate decorations and boisterous
singing offered at each house.
Sunday and last night comprised
the first round of the rush process.
Rushes are divided into groups and
as they approach a house - they
visit all 15 for the first set - the sis-
ters greet them with shouting and
singing. Each visitor is then paired
with a sister so they can getto know
See RUSH, Page 3

A group of students gathered outside Alpha Delta Pi for Fall Rush last night. The
sorority's sisters chanted and cheered for several minutes before inviting them in.

TOMORROW'S HI: 67
WEATHER LO 47

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