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Ann Arbor, Michigan
Friday, October 15, 2010
michigandaily.com
UNIVERSITY ENDOWME1'
Rebounding from losses,
endowment grows 12.3%
CHRIS RYBA/Daily
University President Mary Sue Coleman at the monthly regents meeting yesterday.
At the meeting, the regents voted to give Coleman a 3-percent raise.
SRegents give
Coleman 3%
pay increase
After 21-percent drop in
2009, endowment climbs back
$600M to $6.6 billion in 2010
By KYLE SWANSON
Daily News Editor
After a severe 21-percent drop in its value
last year, University officials announced yester-
day afternoon that the University's endowment
rebounded somewhat in the pastyear,growing12.3
percent.
The growth, from $6 billion to $6.6 billion as of
June 30, 2010, begins the recovery from last year's
$1.6 billion loss. However, the figure leaves much
more to gain back before the University's long-term
portfolio is back to its 2008 level when the endow-
ment reached an all-time high of more than $7.6
billion.
The return is higher than was expected by Uni-
versity officials like Tim Slottow, the University's
executive vice president and chief financial officer,
who told the regents in June that he was predicting
an 11.5-percent return on the endowment invest-
See ENDOWMENT, Page 2A
ON THE WAY BACK?
After hefty losses in the 2009 fiscal year, the University's endowment
made back some ground, settling at $6.6 billion as of June 30, 2010.
1.1
5.7
4.9
7.6
4.2
3.5 3.6 3.5
6.6
6.0
2.3 2.5
2.0
1.6
1.3
1.0
0.6 0.8
0.4 0.5
6 ,
'90 '91 '92 '93 '94 '95
'96 '97 '98 '99 '00 '01
Year
'02 '03 '04 '05 '06 '07 '08 '09 '10
SOURCE: UNIVERSITY REPORT oN INVESTMENTS
Raise will bump 'U'
president's base
salary to $570,105
By JOSEPH LICHTERMAN
DailyStaffReporter
The University Board of Regents
voted unanimously at its monthly
meeting yesterday afternoon to give
University President Mary Sue Cole-
man a 3-percent salary increase.
The raise took effect Aug. 30,
2010. Coleman's previous base
salary was $553,500, while her
total compensation package was
$783,850. The 3-percent raise will
result in a $16,605 increase in Cole-
man's base salary, bringing it to
$570,105.
Aside from her base salary, Cole-
man received a $100,000 retention
bonus, $75,000 in deferred compen-
sation, $24,500 in retirement pay
and $30,850 in supplemental retire-
ment pay in 2009.
Coleman also has an account for
herbusiness-relatedtravelexpenses
and other operations. In addition,
she is given a car and is provided full
use of the President's House at 815
South University Ave.
Coleman accepted a 4-percent
raise in 2008, but requested in 2009
that the regents not give her a merit-
basedsalaryincrease.In2007,Cole-
man received a 3-percent raise, but
decided to donate the money back to
the University.
According to data published by
The Chronicle of Higher Educa-
tion last January, Coleman was the
sixth-highest paid university presi-
dent in the country in 2009.
The Board of Regents Person-
nel, Compensation and Governance
Committee conducted a perfor-
mance review before awarding this
year's salary raise.
At yesterday's meeting, Regent
Andrew Richner (R-Grosse Pointe
Park) read the regents' recommen-
dation for the raise. Speaking on
behalf of the regents, Richner said
Coleman's performance as well as
market trends supported the deci-
sion to award the raise.
"The committee and the board, in
addition to extending our personal
gratitude for a job well done, is rec-
ommending a 3-percent increase in
PresidentColeman's salaryeffective
August 30, 2010," Richner said. "I
should note that this recommenda-
tion is well supported by the mar-
See RAISE, Page 7A
50TH ANNIVERSARY OF THE PEACE CORPS
Peace Corps and University leaders at a 50th anniversary event for the Peace Corps on the Union steps yesterday.
Peace Corps leaders return to
''fr anniversary celebrtion0
University
announces
new Peace
Corps grad
program
By NICOLE ABER
Daily News Editor
As part of its celebration
marking the 50th anniversary of
the Peace Corps, the University
announced that three schools
will begin a program next year
offering master's students credit
for partaking in the Peace Corps
duringctheir graduate studies.
The program, called Master's
International, allows masters
students in the Schools of Social
Work, Natural Resources and
Rnvironment and Education, to
go into the Peace Corps while
getting their master's degrees,
Alex Pompe, the University's
Peace Corps campus coordi-
nator, said in an interview last
night.
After applying and being
accepted to both the Peace Corps
and the University program of
their choice, participating stu-
dents would complete one year
See PROGRAM, Page 7A
MICHIGAN FOOTBALL
Michgan to take
Season opener our players a chance to display who
they are, show that we'll go any-
will be played at where and play anybody," Michigan
Athletic Director David Brandon
Cowboys Stadium told The Michigan Daily on Sept.
25 when asked about the possibility
in Dallas of the matchup after rumors sur-
faced. "That's the kind of program
By TIM ROHAN we have. I believe in that. I think it's
DailySportsEditor what our fans want. It's something
we're going to try to make happen."
Those waiting for the Michigan This is the third attention-grab-
football team to schedule a premier bing matchup to be announced
college football program to open within a year. In January, the Ath-
non-conference play got their wish letic Department finalized plans
on Thursday. to host "The Big Chill at the Big
The Wolverines will play Ala- House," an outdoor hockey game
bama at Cowboys Stadium on Sept. against Michigan State to be played
1, 2012, in the "Cowboys Stadium at Michigan Stadium. In addition,
Classic," according to an Athletic Brandon announced in March that
Department press release distrib- the Wolverines will face Notre
uted yesterday. The game will be Dame under the lights in 2011 for
televised nationally in primetime. the program's first-ever night game
"Going out and doing some of in Michigan Stadium.
these innovative things that really The game against Alabama will
drive attention to our program, one mark the fourth meeting between
that we're really proud of and give See FOOTBALL, Page 2A
Tom Hayden,
former Sen.
Wofford talk
founding of prog.
By KAITLIN WILLIAMS
Daily StaffReporter
"Kennedy's idea is time-
less. It is as vibrant today as it
was half a century ago," said
Peace Corps Director Aaron
Williams yesterday during the
50th anniversary celebration
of then-presidential candi-
date John F. Kennedy's speech
on the steps of the Michigan
Union.
Fifty years ago, on Oct. 14,
1960, Kennedy gave a sponta-
neous speech at 2 a.m. More
than 5,000 students crowded
around the steps of the Union
to hear the then-Senator talk
about his idea for an interna-
tional service organization.
Yesterday, about 800 Uni-
versity students, faculty, poli-
ticians, community members
and past Peace Corps volun-
teers gathered in front of the
Michigan Union to hear speak-
ers commemorate the historic
day.
After an opening speech
from Dean of Libraries Paul
Courant, University President
Mary Sue Coleman and hon-
See ANNIVERSARY, Page 3A
OBI* TRY"*
Med. student dies in accident while researching abroad
Sujal Parikh was
studying pediatric
HIV/AIDS in Africa
By SUZANNE JACOBS
Daily StaffReporter
Sujal Parikh, a fourth-year
student at the University's Medi-
cal School, passed away Tuesday
night in Kampala, Uganda after
being injured in a motorcycle
accident.
Parikh was researching pedi-
atric HIV and AIDS at the Joint
Clinical Research Centre in Kam-
pala as a Fogarty International
Clinical Research Scholar.
Elizabeth Petty, associate dean
of the University's Office of Medi-
cal Student Education, said in a
phone interview that Parikh was
a "very inspirational, visionary
young man who was incredibly
humble and incredibly generous
with his time."
Petty wrote in an e-mail inter-
view that Parikh "will be dearly
missed" by the medical school
community.
"Sujal was such an exceptional
human being - a true humanitar-
ian," Petty wrote. "He was tire-
less and selfless in his passionate
efforts to address social injustice
and health disparities globally. He
touched us all so profoundly with
his insightful words, visionary
thoughts and generous actions."
Petty wrote that Parikh had
a passion for social justice and
international health, which could
be seen in the variety of organiza-
tions he participated in. Parikh
partook in the Student Advisory
Board for Physicians for Human
Rights, the Student Advisory
Committee for the Global Health
Education Consortium and the
American Medical Student Asso-
ciation's AIDS Advocacy Network
Steering Committee.
Originally from Dallas, Texas,
Parikh got his undergraduate
degree in public health and neu-
robiology at the University of
California, Berkeley. He came to
the University in 2007 for his first
year of medical school.
On his blog called "Mzungu
Bye!"- a phrase Ugandan chil-
See PARIKH, Page 7A
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