2 - Friday, April 16, 2010 The Michigan Daily - michigandaily.com
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LEFT Inside the School of Public
Policy on Wednesday. (MARISSA
MCCLAIN/Daily) TOP RIGHT
Tea Party protesters sit on a
bench in the Diag yesterday
during the Ann Arbor Tea Party
demonstration. (SAM WOLSON/
Daily) BOTTOM RIGHT PAWS
of Ann Arbor - a student-run
organization that aims to bring
pets to the homes of the elderly
- brought dogs to the Diag on
Wednesday in an effort to raise
awareness for its cause. (TORE-
HAN SHARMAN/Daily)
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CAMPUS EVENTS & NOTES
CRIME NOTES
Chair valued at Textbook swiped
$75stolen
WHERE: 1501 Catherine St.
WHEN: Wednesday at 9 a.m.
WHAT: A brand new Herman
Miller chair valued at $735
was stolen from room C246A,
University Police reported.
There are no suspects.
WHERE: Ross Academic Center
WHEN: Wednesday at2:20p.m.
WHAT: A male student's "The
Aims ofArgument" textbook
was stolen from a desk inthe
basement after he left it unat-
tended to use the bathroom,
University Police reported. The
book isvalued at $85. There are
no suspects.
Annual Latino Environment
Culture Show symposium
WHAT: The 10th Annual WHAT: The Natural Scienc
Latino Culture Show "Nues- and Environment Master's
tra Historia" takes place Project Resource Symposium
tonight. The performance WHO: School of Natural
will feature music, poetry, Resources and Environment
drama and student-cho-~ WHEN: 8:45 a.m.
reographed dance. There WHERE: Dana Natural
will also be a musical per- Resources Building, Room
formance by Grupo Ayo. 1040
WHO: Michigan Union
Ticket Office M U i
WHEN: 7 p.m. to 9 p.m. Movie at UMix
WHERE: Mendelssohn
Theatre WHAT: There will be
a showing of the movie
Stephen Lynch "Invictus," laser tag
and a performance by
comedy show ComCo and Witt's End.
WHO: University Unions
:e
n.
it
Rear window on Female staffer's
VW smashed Mcard taken
1Wal-mart Stores were
ranked first in CNNmon-
ey.com's Fortune 500 list
for this year, money.enn.com
reported. The company, which
saw an increase in profits in the
fiscal year 2010, was ranked
second lastyear.
University student travel
to northern Mexico was
put on hold on Tuesday
by the University's Travel
Oversight Committee after a
recent increase in violence in
the region.
>> PQRMORESEE OPINION, PAGE 4
At nearly 400 parks across
the country next week
visitors won't have to pay
entrance fees as part of Nation-
al Park Week, the Associated
Press reported. Various special
events will also take place at
many parks like planting gar-
dens and park clean-ups.
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S
WHERE: 1114 State St.
WHEN: Wednesday at 3:20
p.m.
WHAT: The rear window of a
female student's Volkswagen
was found broken after some-
one accidentally hit it with a
baseball bat, University Police
reported. There is $1,000
worth of damage.
WHERE: Ross School of Busi-
ness
WHEN: Wednesday at 9 p.m.
WHAT: A female staff mem-
ber's Mcard and University
office keys were stolen after
she left them unattended, Uni-
versity Police reported. There
are no suspects.
'
WHAT: Guitarist Stephen
Lynch will perform as part of
Pike Comedy Night. Proceeds
will go toward Wyclef Jean's
Foundation for Haiti Relief.
WHO: Michigan Union
Ticket Office
WHEN: 7:30 p.m.
WHERE: Michigan Theater
Arts & Programs
WHEN: 10 p.m. to 2 a.m.
WHERE: Michigan Union
CORRECTIONS
" Please report any
error in the Daily to
corrections@michi-
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Love Crime Notes? Get moreonlineat michigandaily.com/blogs/the wire
ENDOWMENT
From Page 1
and Media Relations' website, the
endowment contributed approxi-
mately $244 million in expendable
revenue to the University's budget
last year.
In an interview after yester-
day's meeting, University Presi-
dent Mary Sue Coleman said
the review was being conducted
because a stipulation mandating
it was included in the regents'
vote that implemented the cur-
rent 5-percent payout policy.
"We changed from a three-
year rolling average to a seven-
year rolling average about four
years ago," Coleman said. "And
so in that action item we did four
years ago, we said periodically we
wanted to go back and look at just
the rule itself of five percent, so
that's the discussion we've been
having."
Coleman said the reason
behind reviewing the policy is to
ensure that the payout amount is
still in the best interest of both
the short-term and long-term
needs of the University.
"We're trying to balance pay-
ing for the future with provid-
ing enough money for the units
today and that's a tricky balance,"
Coleman explained, saying it is
important to consider the effects
of possibly raising or lowering the
endowment payout.
However, Coleman stressed
that no final decisions on the
issue have been made yet.
In an interview with The Mich-
igan Daily following yesterday's
meeting, Timothy Slottow, the
University's executive vice presi-
dent and chief financial officer,
echoed Coleman's comments.
Slottow said University offi-
cials were indeed considering
modifications to the current five-
percent payout rule. And while
Slottow said all options are on the
table right now, he indicated that
reducing the endowment payout
might make more sense at this
point in time.
Such discussion comes amidst
a challenging budget round for
the University, in which Uni-
versity officials say they are
planning for as much as a 20- to
25- percent cut in state appropri-
ations. Such a cut would elimi-
nate approximately $68 million
from the University's budget
unless additional revenue can be
found from another source.
To cope with some of the bud-
get hardships, Coleman has called
on the University to "double its
efforts" in cost containment. The
University has eliminated $135
million in annual recurring costs
over the past seven years. Last allowed for an increased payout
year, Coleman said she expected to the University's budget, Slot-
that another $100 million in cost tow explained.
cutting would be in place within The University's spending rule
two years. has remained fairly consistent
Cutting the mandatory endow- over the past 25 years, having
ment-spending rule could mean only been changed twice since
less money for units on campus. 1986.
However, if the payout rule cut is Starting in 1986, the endow-
modest, nominal funding could ment payout was determined
be maintained at current levels based on how well investments
or even increased if the endow- performed in a given year -
ment's performance does not meaning that if the endowment
diminish. rose 5 percent overall, then 5
Even though the University's percent would be allocated in the
endowment lost $1.6 billion in budget. That rule changed in the
real terms last year, the seven 1990s, when the payout rule was
year rolling average value of set at 5.5 percent of the endow-
the endowment was such that it ment's calculated value.
CHERRY
From Page 1
Michigan residents. He stressed
the value of preparing students at
a young age to embark on a post-
secondary education.
"It's not good enough that every
child has access to a free and pub-
lic education, a K-12 education,"
Cherry said. "A K-12 education
must assure that every graduate is
prepared and ready for a post-sec-
ondary experience."
Cherry also repeatedly stressed
adjusting the state's education sys-
tem to help make innovations that
will change the state's economy.
"For our economy to flourish,
our wealth must be based on man-
ufacturing processes that are fed
in part by sophisticated technol-
ogy that we excel in creating and
operating," Cherry said. "Our eco-
nomic success will be directly pro-
portional to the extent that we can
shift from leveraging our muscles
to leveraging our minds."
The state's current educational
funding is not only too minimal,
but outdated as well, Cherry said.
State officials are seeing the same
results from the funding they
would've expected to see years
ago, instead of the product they
would expect in the 21st century,
Cherry said.
In 2004, at Democratic Gov.
Jennifer Granholm's request, the
Cherry Commission on Higher
Education and Economic Growth
was launched. The commission has
laid out "recommendations" for
educational improvement ranging
from professional development for
teachers to incorporating entre-
preneurial skills into the K-12 cur-
riculum.
Cherry said officials may need
to make changes on the current
public school post-secondary
curriculum, which places an
emphasis on obtaining a col-
lege education because it raises
the question of how that educa-
tion applies to students who wish
to transition straight from high
school to full-time work.
He added that the vastly dif-
ferent skill sets that used to be
required to pursue these pathways
are now becoming increasingly
similar.
"The clear division between
vocational and college prep is
quickly disappearing," Cherry
said.
On the first day of the confer-
ence, University professors Maris
Vinovskis, Elizabeth Moje, Brian
McCall and Greg Markus spoke
in the School of Public Policy's
Annenberg Auditorium.
Vinovskis, a public policy and
history professor, spoke about
national education policies, saying
that many of the programs dedi-
cated to improving education in
the country don't receive the atten-
tion they require to be successful.
He added that in recent years,
the government has tended to
exaggerate the efficacy of these
policies.
"We have a long history of
promises unfulfilled in American
development," he said.
Moje, an Arthur F. Thurnau
professor in the School of Edu-
cation, discussed some of the
findings of her ongoing research
project, which is devoted to study-
ing adolescent literacy in the Unit-
ed States.
Moje said she has found that
too much focus has been put on
improving test scores and academ-
ic achievement at the individual
level, and that a greater empha-
sis should be placed on seeking to
enhance the environment in which
students learn.
"What we really need to be
attending to, and what isn't attend-
ed to in these policies, is that we're
not thinking about the structures,
the systems, and the culture in
which education is enacted, in
which we attempt to teach people
and provide opportunity for all,"
Moje said.
Moje's research presentation
was followed by McCall, a profes-
sor of education, economics and
public policy, who discussed the
issue of higher educational financ-
ing from a student's perspective.
He talked about the debilitating
effect that debt can have in not
only affecting a student's ability to
attend graduate school, but also in
making future decisions.
"Debt also affects the type of job
you choose, because with the loans
that you have to repay, you may
look for a job that has high wages
but isn't quite as interesting or not
something that you really want to
do," McCall said.
In concordance with McCall's
arguments, Markus, a professor
of political science and a research
professor atthe University's Center
for Political Studies and Institute
for Social Research, spoke of the
moral and ethical reasons for pro-
viding equal educational opportu-
nities to all students, regardless of
their financial status.
Markus addressed the students
in attendance and encouraged
them to continue to pursue initia-
tives that will improve the state's
educational system.
"I urge you to not be paralyzed
waiting for the final research to
come inas to the one best thing you
should do," Markus said. "Don't
wait for that research; we know
that there are things that can be
done."
After Cherry's speech yes-
terday, America Reads Director
Whitney Begeman, and student
representatives from the Detroit
Partnership and Students for
Educational Equality spoke about
proposed solutions for improv-
ing educational systems both in
Michigan and throughout the
country.
Thespeakersplacedanemphasis
on elementary-level and post-sec-
ondary education and highlighted
the importance of these develop-
mental periods in helping students
thrive in educational settings and
later on in the workplace.
Student representatives from
the University's Detroit Partner-
ship spoke about the importance
of encouraging young children to
pursue a college education.
"We are trying to motivate these
kids to be excited about obtain-
ing a post-secondary education,"
Business senior Neil Thanedar,
executive director of the Detroit
Partnership, said.
is
2010 marks the launch of
Claremont McKenna College's Summer Session.
All of our summer offerings are concentrated versions of regular CMC courses and
will be taught by Claremont faculty Summer Session courses embody the college's
unique focus on leadership and thoughtful engagement in the world and in the
liberal arts. Our twenty-plus courses are designed to appeal to a broad array of
college, graduate, and post-baccalaureate students from Claremont and beyond.
Summer Session begins May 24 with most courses meeting MWF and running
six weeks through July 2. A three-week long MTWRF Religious Studies course
ends on June 11, and our seven-week Arabic immersion program ends on
July 9, meeting full time MTWRF
For more information, please visit
http://www.claremontmckenna.edu/Iasummer
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