wl 2A - Wednesday, February 20, 2013 The Michigan Daily - michigandaily.com PC Michigan Will- 420 Maynard St. Ann Arbor, MI 48109-1327 www.michigandaily.com ANDREW WEINER RACHEL GREINETZ Editor in Chief Business Manager 734-418-4115 ext. 1252 734-418-4115 ext. 1241 anweiner@michigandaily.com rmgrein@michigandaily.comn PE E R-TO-P EaE R TRANSmTm S JT O NDE OF NW SSTEM N ew e-payment method at Duke A GRAND SLAM Ivy, a new electronic payment application for students that automatically connects to either a bank account or a credit card number, is being endorsed by Duke University's student gov- ernment, The Duke Chronicle reported Friday. The new system allows stu- dents to make transactions elec- tronically with any other member of the system, eliminating the hassle of having to keep track of a card or even cash. Duke freshman Alex Semien introduced the new method of payment to the student govern- ment which showed support for the adoption of this new system. "Ivy is really innovative, and it is quick," Semien said. "Hon- estly, it is the fastest peer-to-peer system that I have seen. Students almost never have cash with them anyway." Duke sophomore Tre' Ellis Scott added that Ivy has the potential to become synced with students' Duke University accounts, making online access to transactions and expense records simpler for students. Cornell takes measures to increase safety for students traveling abroad Cornell has implemented a new online travel registry that will make traveling abroad safer for both students and staff, the Cornell Sun reported Friday. When students organize a study abroad semester they are- automatically registered with the system and will have access to emergency travel insurance. Alexis Santi, coordinator of travel safety for Cornell Abroad, said although a number of stu- dents who independently planned their trips have registered with the system, there are still 1,000 to 1,500 who have yetto do so. Dean of Students Kent Hub- bell said the system will be bet- ter able to respond to emergency situations. - HILLARY CRAWFORD Newsroom 734-418-4115 opt.3 Corrections corrections@michigandaiy.com Arts Section arts@michigandaily.com Sports Sectin sports@michigandaly.com Display Sales display@michigandaily.com Online Sales onlineads@michigandaily.com News Tips news@michigandaily.com Letters to the Editor tothedaily@michigandaily.com Editorial Page opinion@michigandaily.com Photography Sectin photo@mhigandaiy.com Classified Sales classiied@michigandaily.com Finance finance@michigandailycom 0 NICHOLAS WILLIAMS/Daily Detroit comedian Satori Shakoor hosts NPR's Moth Story Slam at the Circus Club on Tuesday evening. CRIME NOTES Parking perils Nap time? WHERE: 1600 Medical WHERE: Taubman Center Medical Library WHEN: Tuesday at about WHEN: Tuesday at 5:50 p.m. 4:30 a.m. WHAT: A witness observed WHAT: Staff memb a vehicle collide with a reported finding a s parked vehicle before sleeping in the lobby parking in a nearby space, library, University P University Police reported. reported. Police det The damaged car could not that the subject was be located after the incident versity student. was reported. CAMPUS EVENTS & NOTES about bers ubject y of the Police ermined a Uni- Cold feet WHERE: University Hos- pital WHEN: Tuesday at about 8:45 p.m. WHAT: A pair of shoes was reported stolen from a hosptial staff break room, University Police reported. There are currently no sus- pects. Stairway to heaven WHERE: 216 Thayer WHEN: Tuesday at about 2:50 p.m. WHAT: Spraypainted graf- fiti was found outside a carport, University Police reported. The paint was found on three levels of the starway. Police currently have,,n,,ects Free concert WHAT: Performers from the School of Music, The- atre & Dance will be per- forming some of Brahm's most famous works. The show will also feature vocal performances. WHO: University Philhar- monia Orchestra and Uni- versity Choir WHEN: Today at 8:00 p.m. WHERE: Hill Auditorium Alphabet lecture WHAT: Prof. Richard Janko will discuss the ori- gin of the alphabet and the history of advanced com- munication. There will be a reception following the lecture. WHO: University and Dev- lopment Events WHEN: Today at 4:00 p.m. WHERE: Rackham Ampitheatre Shakespeare WHAT: Members of the popular, all-male perfor- mance group Propeller will perform Shakespeare's Twelfth Night. Tickets can be bought online or at the League ticket office. WHO: University Musical Society WHEN: Today at 7:30 p.m. WHERE: Power Center for teh Performing Arts Ford debate WHAT: Experts will exgage ina debate on the state of cyber security in the United States WHO: International Policy Center WHEN: Today at 5:30 p.m. WHERE: Weill Hall, Annenburg Auditorium CORRECTIONS . Please report any error in the Daily to corrections@michi- gandaily.com. TH REE TH INGS YOU SHOUtD KNOW TOIJAY Eclipse, a 557 foot, $1.5 billion dollar owned by Russian billionaire Roman Abrovich, made a surprise visit to New York harbor, CNN reported Tues- day. Eclipse is the largest and most expensive privately owned yacht in the world. The HathiTrust Digi- tal Library holds over five million books in an online database, benefiting students and scholars nation- wide. But what about the authors? FOR MORE, SEE INSIDE Famed South African Olympian Oscar Pis- torius faced a judge on Tuesday to argue his side of the murder charges brought against him by prosecutors, CBS reported. The judge ruled that the charges could not yet be dismissed. 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Preparing people to lead extraordinary lives Gov. may appoint emergency manager to handle crisis -DETROIT (AP) - A state- appointed review team has determined Detroit is ina finan- cial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency man- ager who would need to come up with a new plan to get the city out of its fiscal crisis. The team released its find- ings Tuesday, saying in a report to Snyder that "no satisfactory plan exists to resolve a serious financial problem." The review team pointed to the city's ongoing cash crisis, which have threatened to leave the city without money to pay its workers or other bills. It noted that the city's deficit could have reached more than $900 mil-. lion in fiscal year 2012 if the city had not borrowed enormous amounts of money; that Detroit has long-term liabilities, includ- ing underfunded pensions, of more than $14 billion; and that the city's bureaucratic structure makes it difficult to solve the financial problems. "The cash condition has been a strain on the city," said state Treasurer Andy Dillon, a member of the review team. "The city has been running def- icits since 2005 ... (and) mask- ing over those with long-term borrowing." Under Michigan law, Snyder has 30 days to decide for him- self whether there's a financial emergency. Mayor Dave Bing would have 10 days to request a hearing: Snyder could then revoke his decision or appoint an emergency manager. The emergency manag- er would be responsible for overseeing all of the city's spending. Bing and the City Council would keep their jobs, but the manager would decide all financial matters. And only the manager would have the power to authorize the city to take the bankruptcy route. James McTevia, president of a Michigan-based firm that specializes in turnaround man- agement, said an emergency manager could halt the city's borrowing, freeze debt and restructure finances, including voiding contracts. "The check- book needs to be taken from the politicians," he-said. However, others said that even with an emergency man- ager, municipal bankruptcy may be the city's only way out of the financial mess. "Is it imminent?. Well not tomorrow," said Doug Ber- nstein, managing partner of the Banking, Bankruptcy and Creditors' Rights Practice Group for Michigan-based Plunkett Cooney law firm "You need to give a financial man- ager the opportunity to formu- late a plan and let the plan have a chance to succeed or fail. It may not avoid a bankruptcy, but you don't need to do a bank- ruptcy today." Snyder spokeswoman Sara Wurfel said he will review the team's report carefully. "He won't make a determi- nation immediately, but sooner rather than later," she said. "The governor believes that a strong and successful Detroit is key to Michigan's continued comeback." Bing said Tuesday's report shouldn't have surprised any- one. - "My administration has been saying for the past four years that the city is under financial stress," Bing said in an emailed statement. "If the Governor decides to appoint an emer- gency financial manager, he or she, like my administration, is going to need resources - par- ticularly in the form of cash and additional staff. "As I have said before, my administration will stay focused on the initiatives that most directly impact the citi- zens of Detroit: public safety, public lighting, transportation, recreation and neighborhood blight removal." Each of the six review team members agreed on the finan- cial emergency determination, Dillon said. If Snyder moves ahead and appoints an emergency man- ager, Detroit would be the sixth and largest city in Michigan to have one. The cities of Benton Harbor, Ecorse, Pontiac, Flint and Allen Park are currently under state oversight. School districts in Detroit, Highland Park and Muskegon Heights also have managers. A new state law taking effect in late March gives local gov- ernments the chance to choose their own remedy when a review team finds a financial emergency exists: However, Detroit loses those options if an emergency manager is put in place before the new law goes into effect, said Terry Stanton, Treasury spokesman. City Council President Pro Tem Gary Brown said the pace of fiscal change in Detroit has been too slow. "The political will has often not been there to make the nec- essary and bold fiscal reforms," Brown said in a written state- ment. The statement went on to say, "Without a doubt, we need the support and account- ability that a State of Michigan partnership offers. We cannot address our legacy obligations alone. And, as Detroit goes, so goes Michigan." Now that the depth of Detroit's woes is clearer, the most efficient path to recovery needs to be taken and that falls to Snyder, Dillon said. "A lot of the ingredients for the turnaround of the city are in place," Dillon said. "Now we just need to execute. I do believe strongly that Detroit is fix- able and can see brighter days ahead." t$ 4