2A - Wednesday, November 26, 2008 The Michigan Daily - michigandaily.com 2A - Wednesday, November 26, 2008 The Michigan Daily - michigandailycom When campus was snowed in Last winter was indisputably the snowiest winter in Ann Arbor history. The city recorded more than 85 inches of snow, enough to surpass the previous record of 83.9 inches set during the 2004-2005 season. The title of the single worst bliz- zard in the city's history, however, is a more contentious debate. Weather historians typically narrow the honor down to two top contenders: "the Great White Hur- ricane of 1913" from Nov. 7 to Nov. 12 and the "Great Blizzard of 1978" from Jan. 25 to Jan.27. The 1978 storm, the last time the University called a snow day, blan- keted the Ann Arbor area in 19 inch- es of snow and allbut shut down the Midwest from the Ohio Valley to Ontario, Canada. Both Michigan Gov. William Mil- liken and Ann Arbor Mayor Albert CRIME NOTES Wheeler declared a state of emer- gency as roads became impassable. The University was forced to first postpone and then suspend classes for two days. The snow also prevented food deliveries to the dining halls and piled so high on the Diag that the Engineering Arch was almost sealed off. The Michigan Daily, which was the only daily paper in Michigan to continue publishing duringthe bliz- zard, reported that most students "looked forward to a Norman Rock- well sort of day" curled up indoors - but this wasn't the case for every- one. Students rushed to find sleds and cafeteria trays for sledding. Biv- ouac on State Street reported that it quickly ran out of rental skis. About 15 West Quad hallmates, living up to their nickname "the Zoo," stripped down to shorts and T-shirts and ran barefoot sprints across State Street in front of the Union. "We're just trying to prove thatr it's all in the head," said one of the runners. Meanwhile, a handful adventur~ ous students threw a beach party complete with "snowbathers" and a Beach Boys soundtrack. The hosts explained the party saying, "If (University President) Robben Fleming can call off school, that's good enough reason to have a beach party." On Jan. 30, C.R. Snider of the National Weather Service in Ann Arbor said that 20 deaths had been attributed directly to the snowfall and more than 100,000 cars were DAILY FILE PHOTO abandoned on state highways dur- West Quad residents celebrate in shorts and T-shirts on a snow ing the three-day blizzard. day in January 1978. The January storm was one of the worst in KELLYFRASER Ann Arbor history. 420 Maynard St. Ann Arbor, MI 48109-1327 www.michigandaily.com ANDREW GROSSMAN ELAINA BUGLI Editor in Chief Business Manager 734-647-3336 734-764-0558 greossmaC@michigandaityco m bugti@micCigandaitycom CONTACT INFORMATION Newsroom Officehours:Sun.-Thurs.tna.m.-2 a.m. 734-763-2459 News Tips news@michigandaily.com Corrections corrections@michigandaily.com letters to the Editor tothedaily@michigandaily.com Photography Department photo@michigandaily.com 734-764-0s63 ArtsSection artspage@michigandaily.com Editorial Page opinion@michigandaitycom 734-763-0379 Sports Section sports@michigandaily.com Display Sales display@michigandailycom 734-764-0554 Classified Sales classfied@michigandaily.com 734-764-0s57 Online Sales onlineads@michigandaily.com Finance finance@michigandaiy.com 734-763-3246 EDITORIAL STAFF Gabe Nelson Managing Editor nelson@michigandaily.com Chris Herring Managing News Editor herring@michigardaily.com SENIOR NEWS EDITORS: Emily Barton, Kelly Fraser, Lisa Haidostian, Andy Kroll GaryGraca Editorial Page Editor grata@michigandaily.com ASOCATE EITORIAL AGEDITORS: Emmarie Hutea, iliel ~s, aePebody ASSISTANTEDITORIALPAGE EDITORS:HarunBuljina,RobertSoave Nate Sandals Managing Sports Editor sandals@michigandailyecom rSENIOR SPORTS EDITORS: Dan Feldman, Courtney Ratkowiak, Ian Robinson, Andy Reid, Michael Eisenstein ASSISTANT SPORTS EDITORS: Nicole Auerbach, Ruth Lincoln, Chris Meszaros,ColtRosensweig,AlexProsperi,Jason Kohler MatttEmery and Michael Passman ManagingArts Editors arts@michigandaily.com AISTANT RTS EDTORS: lk obleWhitnyPowM ark Schultz, David Watnick RodrigoGaya Managing Photo Editor- gaya@michigandailycom SENIOR PHOTO EDITORS: Jeremy Cho, Zachary Meisner usSTNTCPOTOETORS:BenDeRob igrin Clifiero, sChasne o-Habsburg-Lothrige Allison Ghaman Managing Design Editor ghaman@michigandaily.com SENIOR DESIGN EDITORS: Bridget O'Donnell, Hillary Ruffe Bridget O'Donnell Managing online Editor odonnell@michigandaily.com SENIOR ONLINE EDITORS: Tom Haynes lessica Vosgerchian MagazineEditor vosgerchian@michigandaiy.com Ben Simon MultimediaEditor blrsimon@umich.eda Katherine Mitchell copy chief witchkl@umich.edu ASSOCIATE COPY CHIEF: Zenaida Rivera BUSINESS STAFF Michael Schrotenboer DisplayAdvertising sales Manager DISPLAY ADVERTISING ASSOCIATE MANAGERS: Daniel Nen, ~,ChriisiPilips Ryan Businski casifiedSalesManager Classified Sales Assistant Manager: Alison Thomas Marissa Gerber Online Sales Manager Ben English Production esignManager ,,oducton Assitant: AttieSantaareu Daniel Cheung Finance Manager The Michigan Daiy (ISSN0745-967)is published Monday through Friday during the fall and wirter termsbystudentsatthe Universityof Michigan.Onecopyisavaiablefree ofchargetoallrearers. AdditionaicopiesmaybepickedupatieDaly'sofficefor2Subscriptionsforfalteenstartigin september,viau.smalarei110.interterm(January through Api is$11syeioong(September through Aprilis $195.University affiliates are subjectto a reduced subscription rate. On-campus subscriptionsirfaiermare$3.Subscriptionsmust beprepaid.The MichiganOailysa membero The Asociated Preand The Asciated ColatPrss.F,, CAMPUS EVENTS & NOTES Tractor-trailer Computer, sideswipes bus monitor stolen WHERE: Glen and Ann avenues WHEN: Monday at about 7:40 a.m. . WHAT: A University bus was sideswiped by a tractor-trailer while transporting students on campus, University Police reported. No one was injured in the incident, and both vehi- cles involved sustained minor damage. WHERE: School of Social Work Building WHEN: Monday at about11:25 a.m. WHAT: A computer and high- resolution monitor were stolen from a room in the building sometime last weekend, Uni- versity Police reported. Police have no suspects. Chemical spills Product development competition WHAT: Nine student groups will design a structure that will allow people to wash their hands, bathe themselves and an infant and use the bathroom in a disaster area. Students are now eligible to vote for the project they think is best done at www.tauber. umich.edu. Votingcloses on Dec. 2. WHO: Tauber Institute for Global Operations WHEN: Today until voting closes on Dec. 2. WHERE: Michigan Union, Ballroom Jeff Daniels performance WHAT: A concert hosted by the actor featuring Michigan musicians. WHO: Big Pickle Productions University Housing will WHEN: Saturday at 8 p.m. U WHERE: Michigan Theatre host a Thanksgiving Day meal at the Hill Dining Center from.11:30 a.m. to 2 p.m. Evening prayer Meals are $10.95 for students with Blue Bucks or dining Dol- service lars or $12.95 in cash. Tresspasser into storm drain escorted out of WHERE: East Ann Arbor Medical Center Weill Hall WHEN: Monday at about 2:50 WHAT: A service including scripture readings and prayers followed by free dinner WHO: Episcopal Student Foundation WHEN: Today at 5:30 p.m. WHERE: Canterbury House, 721 East Huron Street CORRECTIONS . A story in yesterday's edi- tion of the Daily (Wolverines defeat Buckeyes -finally) said Michigan last defeated Ohio State in Blood Battle, a blood donation competition, in 2001. Prior to this year, the last time Michigan won was in 2002. " Please report any error in the Daily to correc- tions@michigandaily.com. Ypsilanti's Corner Brewery, owned by the company behind the Arbor Brewing Company, has a Bring Your Own Food policy. Seriously. - FOR MORE, SEE THE STATEMENT Louisville residents have scrapped plans to have an Christmas event based on the fictional village of "Whoville" after receiv- ing cease-and-desist letters from Dr. Seuss's lawyers, The Associated Press reported. "It appears these lawyers' hearts are two sizes too small," Lou- isville Mayor Jerry Abramson said. WHERE: Weill Hall WHEN: Monday at about 8:30 a.m. WHAT: A man found trespass- ing in the building was escorted out, University Police reported. p.m. WHAT: 10 gallons of coolant from a generator leaked into a storm drain, University Police reported. The department of Occupation Safety and Envi- ronmental Health responded to the incident. Economy's tumble was worse than expected for latest quarter DECIDE WHAT GOES WHERE. ............................................................................................... ........... ........................................... Michigan Daily Advertising is hiring a Production Layout Designer. Begin winter semester and work two hours every weekday. Applicants should have a knack for spacial relationships and a distinct attention to detail. Experience with Adobe InDesign is a plus. Email bce@umich.edu GDP shrank at a,.5 Insurance Corp. said the list of banks it considers to be in trouble percent annual rate shotupnearly50percentto171dur- ing the third quarter - the highest between July and level since late 1995. The FDIC also said that commercial banks and September savings institutions suffered a 94 percent drop in third-quarter prof- WASHINGTON (AP) - The its to $1.7 billion. Except for the economy took a tumble in the fourth quarter of 2007, it was the summer that was worse than first lowest profit since the fourth quar- thought as American consum- ter of 1990. ers throttled back their spending The FDIC does not reveal the by the most in 28 years, further institutions on its "troubled" list, proof the country is almost cer- but on average, about 13 percent of tainly in the throes of a painful them end up failing. recession. Nine banks failed in the third The updated reading on the quarter, decreasing the FDIC's economy's performance, released deposit insurance fund to $34.6 yesterday by the Commerce billion from $45.2 billion in the Department, _ showed the gross second quarter, both below the domestic product shrank at a 0.5 target minimum level set by Con- percent annual rate in the July- gress. There have been 22 bank September quarter. failures so far this year compared That was weaker than the 0.3 with three for all of 2007. It's percent rate of decline first esti- expected that many more banks mated a month ago, and marked won't survive the next year of eco- the worst showing since the econo- nomic tumult. my contracted at a1.4 percent pace Elsewhere, the New York-based in the third quarter of 2001, when Conference Board said its Consum- the nation was suffering through er Confidence Index for November its last recession. rose to 44.9, from a revised 38.8 GDP measures the value of in October. Last month's reading all goods and services produced was the lowest since the research within the U.S. and is considered group started tracking the index in the bestbarometer of the country's 1967 and Americans' views on the economic fitness. economy remain the gloomiest in "Consumers and businesses decades as they grapple with mas- were like deer in the headlights ... sive layoffs, slumping home prices frozen," said economist Ken May- and dwindling retirement funds. land, president of ClearView Eco- To revive the economy, Pres- nomics. ident-elect Barack Obama, who The new reading on GDP under- takes over on Jan. 20, says a top scores just how quickly the econo- priority will be working with Con- my deteriorated as housing, credit gress to enact a massive stimulus and financialcrisesintensified. The package that he says will generate economy logged growth of 2.8 per- millions of new jobs. cent in the second quarter. The new, lower third-quarter White House press secretary GDP reading matched economists' Dana Perino called the lower GDP forecasts. The downgrade from the figure "troubling" and said new initial estimate mostly reflected an government efforts announced even sharper cut back in spending Tuesday to boost the availability by consumers and less brisk sales of auto and student loans, credit growth of U.S. exports. cards, home loans and other con- American consumers - the life- sumerlending- at cheaper rates - blood of the economy - slashed should eventually help spur more spending in the third quarter at a consumer spending. 3.7 percent pace. That was deeper On Wall Street, those new than the 3.1 percent cut initially government efforts provided an reported and marked the biggest early lift to stocks, but the Dow reduction since the second quarter Jones industrials were down of 1980, when the country was in about 90 points in afternoon the grip of recession. trading. Consumers are hunkering down Meanwhile, the Federal Deposit amid job losses, tanking invest- ment portfolios and sinking home values, which are making them nervous about spending. Underscoring the strain faced by consumers, the report showed that Americans' disposable income fell at an annual rate of 9.2 percent in the third quar- ter, the largest quarterly drop on records dating back to 1947. The government's initial estimate had showed a record 8.7 percent decline in disposable income for the quarter. Sales of U.S. exports grew at a 3.4 percent pace in the third quarter. That was lower than a 5.9 percent growth rate initially esti- mated and marked a sharp slow- down from the second quarter's blistering 12.3 percent growth rate. The deceleration reflects less demand from overseas buyers coping with their own economic problems. Home builders slashed spend- ing at a 17.6 percent pace, marking the 11th straight quarterly cut and fresh evidence of the depth of the housingslump. Meanwhile, a report on home prices released Tuesday and downbeat earnings results from homebuilder D.R. Horton, showed further deterioration in the hous- ing market. The Standard & Poor's/Case-Shiller U.S. National Home Price Index said that home prices tumbled a record 16.6 per- cent during the third quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004. Fort Worth, Tex.-based D.R. Horton Inc. reported anearly $800 millionlossinits fiscalfourthquar- ter on slower home sales and more than $1 billion in charges amid a battered housing market. To help revive the economy, the Federal Reserve is expected to lower interest rates when its meets on Dec. 16, its last session of the year. Last month, the Fed dropped its key rate to 1 percent, a level seen only once before in the last half- century. So far, though, the Fed's rate reductions, a $700 billion finan- cial bailout package and a flurry of other radical actions have been unable to break though a danger- ous credit clog, restore stability to financial markets and help the sinking economy. i