2A - Friday, November 8, 2013 The Michigan Daily - michigandaily.com I MONDAY: TUESDAY: WEDNESDAY: THURSDAY: FRIDAY: This Week in History Professor Profiles In Other Ivory Towers Alumni Profiles Photos of the 4kan 420 Maynard St. Ann Arbor, MI 48109-1327 LEFT Michigan Football Equip- www.michigandaily.com ment Manager Jon Falk works ANDREWWEINER KIRBYVOIGTMAN in his office on Thursday. (ERIN - . dIPJ wn Editor in Chief Business Manager KIRKLAND/Daily) 734-418-4115 ext. 1252 734-418-4115 ext. 1241 TOP RIGHT Herb Frederick, anweiner@michigandaily.com kvoigtman@michigandaily.com Newsroom 734-418-4115 opt.3 Corrections correctionsmichigandaily.com Arts Section arts@ichigandaily.com Sports Section sports@michigandaily.com Display Sales dailydisplay@gmailcom Online Sales onlineads@miichigandaily.com News Tips news@michigandaily.com Letters to the Editor tothedaily@michigandaily.com Editorial Page opinion@michigandaily.com Photography Section photo@michigandaily.com D SClassified Sales classied@michigandaily.com Finance finance@michigandaily.com i CRIME NOTES CAMPUS EVENTS & NOTES Smoky smell Crash and ... Freshmen Math career fair .,..ss=..,sJ ...,as...,s _, _....,ss_.____.. WHEIRE:1000 Block of South Univeristy WHEN: Wednesday at 7:32 a.m. WHAT: A container was reportedly smoking near the West Hall arch, according to University Police. Officers were not able to find any problem after surverying the area. WHERE: 1500 Block of E. Hospital WHEN: Thursday at 4:57 a.m. WHAT: A collsion betwen two vehicles occured, resulting in them both being towed, University Police reported. One driver was cited for failure to yield. Fridays WHAT: The career center is holding a gathering Friday to allow freshmen to meet the Career Center's staff. The meeting will also have free food. WHO: The Career Center WHEN: Today at 12:00 WJIERE: Student Activities Building WHAT: This career fair will feature University alumni and will focus on careers and graduate opportunities in mathematics programs. WHO: Mathematics Career Conference WHEN: Today from 1 p.m. to 4:00 p.m. WHERE: East Hall, Math- ematics Atrium wheels away ...Burn WHERE: 1300 Block E. Ann WHEN: Wednesday at 8:50 p.m. WHAT: A bike was reported stolen from outside Couzens Hall, University Police reported. There are currently no suspects. WHERE: 611 Church WHEN: Thursday at 2:52 a.m. WHAT: A construction lift was found in flames, Uni- versity Police reported. The fire was putout by the Ann Arbor Fire Dept. The fire was likely caused by electri- cal failure. Whirling Business Dervishes et i nettePaph P A 13-year-old boy from Kansas was suspended from school Wednesday because he did not take off his purse, KCTV reported. Anderson County School District superintendent said both boys and girls are not allowed to wear purses or any type of bag. Ann Arbor is amending its housing law so that tenants bear the conse- quences and fines of litter on housing property instead of landlords. > FOR MORE, SEE OPINION, PAGE 4 3A cop in Arkansas reportedly tasered a woman because she did not show him her breasts, New York Daily News report- ed. The victim is now suing the accused officer, and she claims the police department ignored her complaints. 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One copy is available free of charge to all readersAdditional copies may be picked up at theDaily's office for $2.Subscriptionsfor fall term, starting in September, viaiU.S. mailare$110. Winter term anuary through April) is $115, yearlong (September through April) is $195. University affiliates are subject to a reduced subscription rate.On-campus subscriptionsfor ialllte$are$35.subscriptionsmust beiprepaid. The Michigan Daily is a member of The Associated Press and The Associated Collegiate Press. S1 WHAT: The Center for Campus Involvement will teach the do's and don'ts of formal dining. A four course meal will be offered for a cost of $15. WHO: Center for Campus Involvement WHEN: Today at 12:00 p.m. WHERE: Pierpont Com- mons, Boulevard Room WHAT: This performance will feature Sufi dances and music. WHO: Michigan Union Ticket Office WHEN: Today at 7 p.m. WHERE: Rackham Aud. CORRECTIONS . Please report any error in the Daily to corrections@michi- gandaily.com. After IPO, Twitter stock instantly rises 70 percent B Company valued at nearly $31 billion after first day NEW YORK (AP) - Shares of Twitter went on sale to the public for the first time Thurs- day, instantly leaping more than 70 percent above their offering price in a dazzling debut that exceeded even Wall Street's lofty hopes. By the closing bell, the social network that reinvented global communication in 140-charac- ter bursts was valued at $31 bil- lion - nearly as much as Yahoo Inc., an Internet icon from another era, and just below Kraft Foods, the grocery con- glomerate founded more than a century ago. The stock's sizzling perfor- mance seemed to affirm the bright prospects for Internet companies, especially those focused on mobile users. And it could invite more entre- preneurs to consider IPOs, which lost their luster after Facebook's first appearance on the Nasdaq was marred by glitches. In Silicon Valley, the IPO produced another crop of mil- lionaires and billionaires, some of whom are sure to fund a new generation of startups. Twitter, which has never turned a profit in the seven years since it was founded, worked hard to temper expec- tations ahead of the IPO, but all that was swiftly forgotten when the market opened. Still, most analysts don't expect the company to be profit- able until 2015. Investors will be watching closely to see whether Twitter was worth the premi- um price. Thursday's stock surge was "really not as important as you might think," said Kevin Lan- dis, a portfolio manager with Firsthand Funds, which owns shares in Twitter. "What really matters is where the stock is going to be in six months, 12 months." The most anticipated initial public offering of the year was carefully orchestrated to avoid the dysfunction that surround- ed Facebook's IPO. Trading on the New York Stock Exchange under the sym- bol "TWTR," shares opened at $45.10, 73 percent above their initial offering price. In the first few hours, the stock jumped as high as $50.09. Most of those gains held throughout the day, with Twit- ter closing at $44.90, despite a broader market decline. The narrow price range indi- cated that people felt it was "pretty fairly priced," said JJ Kinahan, chief strategist at TD Ameritrade. The price spike "clearly 0 AP/NA5A Cosmonaut Fyodor Yurchikhin holds the Sochi 2014 Winter Olympics torch brought aboard by fellow cosmonaut Mikhail Tyurin as Tyurin, Rick Mastracchio of the United States and Koichi Wakata of Japan enter the station on Thursday. Russian rocket takes Sochi Olympic torch into space snows tnat oemandoexceeds tne HEI .' supply of shares," said Wedbush analyst Michael Pachter. Earlier in the day, Twitter gave a few users rather than executives the opportunity to ring the NYSE's opening bell. The users included actor Pat- 3 rick Stewart, who played Cap- tain Jean-Luc Picard in "Star 9 7 Trek: The Next Generation"; Vivienne Harr, a 9-year-old girl who ran a lemonade stand for a year to raise money to end child slavery; and Cheryl 3 8 Fiandaca of the Boston Police Department. Twitter raised $1.8 billion Wednesday night when it sold 70 million shares to select inves- tors for $26 each. But the huge first-day pop left some analysts wondering whether the compa- ny could have raised more. Had Twitter priced the stock at $30, 6 for instance, the company would have taken away $2.1 billion. At $35, it would have reaped nearly $2.5 billion. That's a lot for a company that's never made a profit and had revenue of just $317 million last year. Flame soar to space, along with three astronauts MOSCOW (AP) - A Russian rocket soared into the cosmos Thursday carrying the Sochi Olympic torch and three astro- nauts to the International Space Station ahead of the first-ever spacewalk for the symbol of peace. Video streamed by the U.S. space agency NASA reported a flawless docking with the space station about six hours after the craft blasted off from Russia's manned space facility in Bai- konur, Kazakhstan. The unlit torch for the 2014 Winter Olympics in the Rus- sian city of Sochi is to be taken on a spacewalk Saturday, then return to Earth 'on Monday (late Sunday EST) with three departing space station astro- nauts. The arriving crew members Thursday were Russia's Mikhail Tyurin, American Rick Mastrac- chio and Koichi Wakataof Japan. Now that the newcomers have entered the space station follow- ing a long hatch-opening pro- cess, the orbiting lab has nine people aboard for the first time since 2009. Fyodor Yurchikhin of Russia, NASA's Karen Nyberg, and Italian Luca Parmitano are the crew scheduled to return to Earth with the torch via a Mon- day landing on the steppes of Kazakhstan. The Olympic torch will not burn onboard the space outpost because lighting it would con- sume precious oxygen and pose a threat to the crew. The crew will carry the unlit torch around the station's numerous modules before takingit out on a space- walk. The Olympic torch was taken aboard the U.S. space shuttle Atlantis in 1996 for the Atlanta Summer Olympics, but this is the first it time it will be taken out- side a spacecraft. "It's a great pleasure and responsibility getting to work' with this symbol of peace," Tyurin told journalists on Wednesday before the launch. Russians Oleg Kotov and Sergei Ryazanskiy will take the torch out of the space sta- tion on Saturday while Ameri- can Michael Hopkins remains inside. The four-month Sochi torch relay, which started in Mos- cow on Oct. 7, is the longest in the history of the Olympics. For most of the 65,000-kilometer (39,000-mile) route across Rus- sia, it will travel by plane, train, car and even reindeer sleigh. Some 14,000 torch bearers are taking part in the relay that stops at more than 130 cities and towns. Last month, the Olympic flame traveled to the North Pole on a Russian nuclear-powered icebreaker. Later this month it will sink to the bottom of the world's deepest lake, Lake Bai- kal. In early February, it will reach the peak of Mount Elbrus, at 5,642 meters (18,510 feet) the highest mountain in Russia and Europe. The torch will be used to light the Olympic flame at Sochi's sta- dium on Feb. 7, markingthe start of the 2014 Winter Games that run until Feb. 23.