2A - Monday, October 7, 2013
The Michigan Daily - michigandaily.com *I
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ANDREW WEINER KIRBY VOIGTMAN
Editor in Chief Osiness Maaer
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Students seek funds for voter registration
Fifty years ago this week
(October 10, 1963)
In order to raise funds, the
University Friends of the Stu-
dent Non-Violent Coordinat-
ing Committee, or SNCC, asked
campus sororities and frater-
nities for financial support.
According to SNCC's plan,
each fraternity and soror-
ity would contribute a certain
amount each week to voter reg-
istration drives in the South.
Twenty-five years ago this
week (October 12,1988)
After the National Gay Rights
Advocates declared Oct. 11 as
"National Coming Out Day," an
Alice Lloyd Hall Resident Adviser
created an educative "gay rap."
The rap was turned into forums
for students to discuss homo-
sexuality and curb homophobia.
Nearly 40 students attended the
first forum. The forums were
targeted at freshmen, who may
have come to campus with less
experience around homosexuals.
Although some were confused
by the raps and did not believe
it changed their perceptions of
homosexuals, others found the
discussion to be enlightening.
Ten years ago this week
(October 8,2003)
The University braced
itself for state budget short-
falls, after calculations of Sep-
tember revenues estimated
a gap of about $800 million.
Cuts in state funds led to small-
er budgets for state universities,
causing University officials to '
reconsider funding allocations.
Mitch Bean, director of -
the Michigan House Fiscal
Agency, said the state legisla-
tors were just as concerned
with the fiscal shortage.
"This is a very substantial
problem we are looking at,".
he said. "This is going to be a
very difficult round of cuts."
ADAM GLANZMAN/Daily
A fan dresses up as a storm trooper at Michigan Stadium
-ALLANA AKHTAR AND to cheer onthefootball team duringtheirgame against
KATIE BURKE Minnesota on Saturday.
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CRIME NOTES
That sinking Crime stats
feeling for Saturday's
WHERE: West Quad game
WHEN: Friday at about
9:20 a.m. WHERE: Michigan
WHAT: Several sinks Stadium and surrounding
were found damaged in areas
a third floor restroom in WHEN: Saturday
West Quad, University WHAT: The University
Police reported. There are Police and its partners
currently no suspects. made 6 arrests at Saturday
CAMPUS EVENTS & NOTES H
Medical ethics Soundscapes
A 70-foot-long mobile
WHAT: To help students of childhood home was stolen from the
with their medical school parking lot of a Hampton,
interviews, Emergency WHAT: Students in the N.Y., diner last Friday, accord-
Medicine Prof. Andrew Bar- Reading and Writing Land- ingto the Huffington Post. The
nosky will hosta seminar scapes of Childhood class police reported that the sus-
discussing the ethical issues will present an open house pect took the home on Sept. 28
of medicine and how to of audio-walks representing after hitching it to a truck and
approach them. childhood tales. heading toward Vermont.
WHO: Career Center WHO: Utiversitve ihrar h
'ps
EDITORIAL STAFF
MatthewSlovin ManagingEditor mjslovin@michigandaily.com
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-Adienne Roberts Editoiat PagetEditors
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The Michigan Daily (ISSN 0745-967) is published Monday through Friday during the fall and
wite trms bny studentat tep iersit oeMck hiahn.One copeisavailable free o hrge
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0i
WHEN: Today at 3:30 m
WHEN! Todnvaoe ant40n0m
Bumper cars
WHERE: Palmer Parking
Structure
WHEN: Friday at about
10:50 a.m.
WHAT: Between 10 a.m.
and 11 a.m. on Thursday, a
parked car was struck by an
unknown vehicle and sus-
tained damage to its fender,
University Police reported.
football game: two for
resisting and disrupting
a police officer and four
for Minor in Possession
of Alcohol. 18 people were
ejected from the game: 12
for disorderly conduct,
three for possessing
another person's ID, two
for possession of alcohol
and one for throwing
projectiles. Emergency
medical personnel treated
74 people; four were taken
to University Hospital.
WHERE: Student Activities WHERE: Hatcher Gradu- The Michigan football
Building' ate Library team retained the
. au eLittle Brown Jug for
America and Student rcital the sixth straight year with
a 42-13 win over Minnesota.
smoking
WHAT: Public Health Prof.
Kenneth E. Warner will give
a lecture on cigarette use and
smoking history in America,
examiningpast policy efforts
and advertisement both for
and against cigarettes and
tobacco.
WHO: Center for Local,
State, and Urban Policy
WHEN: Today from
4 p.m. to 5:30 p.m.
WHERE: Weill Hall
WHAT: The University
Voice Department presents
a free recital. A short Q&A
will follow.
WHEN: Today at 6:45 p.m.
WHO: School of Music,
Theatre & Dance
WHERE: Moore Building,
Britton Recital Hall
CORRECTIONS
" Please report any
error in the Daily
to corrections@
michigandaily.com.
SEE SPORTSMONDAY INSIDE
At least 15 people are
dead in Cairo, Egypt
after confrontations
between crowds of Morsi
and military supporters on
Sunday, the New York Times
reported. The events started
as a anniversery celebration
of the country's last war with
Israel before turningviolent.
Jamaicans' consumption of
Stocks rise on hope that
crocidiles endangers species DC will end its bickering
Global conservation
groups call for
action in Jamaica
CASCADE, Jamaica (AP) -
Crocodiles were once so abun-
dant along the salty rim of
southern Jamaica that images
of their toothy jaws and spiny
armor crown the tropical island's
coat of arms and are stenciled on
the bumpers of military vehicles.
Now, the big reptiles are
and not just because they blend
into swampy backgrounds.
These days, a growing taste for
crocodile meat and even eggs
in Jamaica has conservationists
worried that the reptiles might
be wiped from the wild altogeth-
er, although they've been pro-
tected by law since 1971.
"I went from never hearing
about anyone eating crocodile
meat, much less.crocodile eggs,
to hearing about it all the time.
There's just so much carnage
going on," said Byron Wilson,
University of the West Indies.
Crocs have steadily reclaimed
their range in Florida, their only
U.S. habitat, after rebounding
from the edge of extinction. But
experts believe the reptiles may
be reaching a tipping point in
economically struggling Jamai-
ca. A recent newsletter from the
Crocodile Specialist Group, a
global network involved in croc
conservation, said the situation
appears dire on the island as the
impact of habitat loss deepens
with a "new demand for croco-
dile meat, both for personal con-
sumption and for local market
distribution."
The poaching problem has
gotten so bad in Jamaica that a
passionate reptile enthusiast,
Lawrence Henriques, has set up
a crocodile sanctuary and cap-
tive rearing program just outside
a tiny northern mountain town
called Cascade, far from the ani-
mals' southern habitat, as insur-
ance against future loss. He also
hopes to educate islanders who
revile them or want to barbecue
them.
His facility's fenced pens and
ponds now hold about 45 gray-
green crocs, including a nearly
11-footer (3.3 meters) nicknamed
"Stumpy" because of a severed
tail. Nearby, opening its big jaws
to display sharp interlocking
teeth, a nearly 8-foot (2.4 meter)
female dubbed "Doris" basks in
her new home. Last month, Hen-
riques rescued her in southern
St. Thomas parish after her mate
was fatally shot in the head.
"It's very worrying that so
many people just have no regard
for the laws protecting these
animals," said the wiry and tena-
cious Jamaican, speaking over
a forest symphony of insects in
his croc retreat, which has a sign
warning the rare visitor that they
enter at their own risk.
According to Henriques, some
poachers use baited shark hooks
to bag crocs, mostly sub-adults
measuring about 7 feet (2 meters)
long. People in St. Thomas also
reportedly dig up eggs after
nesting females deposit them on
beaches.
'Modest optimism'
calms fears of
government default
NEW YORK (AP) - Wall
Street thinks Washington's grid-
lock could be easing.
Stocks posted modest gains
Friday, driven by budding opti-
mism among traders that Wash-
ington's bickering politicians can
reach an agreement on the bud-
get and on increasing the govern-
ment's borrowing limit soon.
"Call it 'modest optimism,"'
said Frank Davis, director of
sales and trading at LEK Securi-
ties.
The stock market rose for just
the third time in 12 days. The
Dow Jones industrial average
closed up 76.10 points, or 0.5 per-
cent, at 15,072.58. The Standard
& Poor's 500 index rose 11.84
points, or 0.7 percent, at 1,690.50
and the Nasdaq composite index
gained 33.41 points, or 0.9 per-
cent, at 3,807.75.
Traders aren't expecting a
miracle. The rhetoric between
Democrats . and Republicans
remains as hot as ever. But the
pressure to end the shutdown
and raise the debt ceiling is
climbing quickly.
"The thought is that the
Republicans and Democrats will
soon work this out before Oct.
17," Davis said, referring to the
date the Treasury Department,
said the government's borrowing
authority would be exhausted.
On Friday, House Speaker
John Boehner reemphasized
that he won't let the U.S. govern-
ment default on its debts. There
were also reports that Boehner
was looking to bring House
Republicans together to pass
some sort of budget compromise
that would include raising the
debt ceiling.
Davis noted that it's a positive
sign that investors are buying
stocks heading into a weekend,
especially-with how volatile the
political climate in Washington
has been.
Despite Friday's gains, the
trend for the last three weeks in
the stock market has been lower.
The Dow is down nearly 4 per-
cent since hitting an all-time
high on Sept.18.
While remote, the possibility
of the U.S. failing to pay its bills
or creditors remains a deep con-
cern to investors.
"Credit markets could freeze,
the value of the dollar could
plummet, U.S. interest rates
could skyrocket, the negative
spillovers could reverberate
around the world, and there
might be a financial crisis and
recession that could echo the
events of 2008 or worse," the
Treasury Department said in a
report Thursday.
Investors went through a
similar case of political brink-
manship in August 2011, which
ultimately led to Standard &
Poor's downgrading the United
States' credit rating. The S&P
500 fell roughly 12 percent in the
weeks that followed.
Because of that precedent, the
political noise out of Washington
has come to dominate nearly all
conversations on Wall Street.
Under normal circumstances,
traders would have the govern-
ment's monthly jobs report to
parse through on the first Friday
of the month. But the shutdown
has forced the Labor Depart-
ment to postpone the release of
September's data for at least the
foreseeable future.
And few traders are talking
about third quarter corporate
earnings reports either, which
start next week.
"The market is goingto remain
completely occupied by Wash-
ingtonuntil this is resolved," said
Bob Doll, chief equity strategist
and portfolio manager at Nuveen
Asset Management, which over-
sees $126 billion.
Despite these concerns, Doll
and other investors believe the
possibility that the U.S. govern-
ment would willingly default on
its debt is remote.
"It's hard to really say how
this is going to end, but I think
it's unthinkable that it will end
with a.default of the U.S. gov-
ernment," said Steve Auth, chief
investment officer at Federated
Investors.
Not all parts of the market
were optimistic Friday. Yields
for the one-month T-bill that
mature around the time the U.S.
government is expected to hit
its borrowing limit have risen to
their highest level in a year. The
yield on one-month T-bill was
0.12 percent, up sharply from
0.01 percent five days ago.
Bond market observers said
that fund managers for money
market funds, who primarily
invest in these types of securi-
ties, have been selling short-term
Treasuries. Fund managers
don't want to be stuck holding
U.S. government debt maturing
around the time the federal gov-
ernment hits its borrowing limit.
Average investors have also
been moving out of riskier assets
as well. Roughly $300 million
was pulled from stock mutual
funds last week, according to
fund tracking firm Lipper. It was
the first time this year that mutu-
al funds saw net outflows, Lipper
said. Exchange-traded funds
also saw investors head toward
the exits, with $2.8 billion leav-
ing ETFs last week.
"We have seen a pull out of
(stocks) and investors moving
to cash," said Kristina Hooper,
head of U.S. investment strate-
gies at Allianz Global Investors.
"We're very focused on being
there, holding our client's hand
and helping them think about
the long-term so they're not get-
ting rattled by what is short-term
event."
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