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Ann Arbor, Michigan Wednesday, November 26, 2014 michigandaily.com

ADMINISTRATION
$9.7 billion
and the 'U:
'Endowment
explained

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Investments management in the University's
Investment Office, the endow-
ipport a variety ment is a pool of capital that can
indefinitely support the Univer-
of programs sity if properly managed.
"You can think of it, in a way,
MICHAEL SUGERMAN as this giant bond ... which pays
Daily Staff Reporter out a certain amount of inter-
est every year to the University,"
e University's most recent Castilla said. "It's one of various
rt of Investments, released funding sources."
October Board of Regents The endowment's investment
ng to reflect numbers as of return in 2014, according to the
30, 2014, shows an all-time report, was 18.8 percent - mean-
level of endowment funds: ing that the total endowment
illion. That's nearly quadru- grew by 18.8 percent.
value 15 years ago. It's worth noting that the
e annual report analyzes the endowment does not grow alone
'rsity's investments using a by compounding upon itself; the
deal of financial jargon that, University's fundraising cam-
finance novice, amounts to paigns also play a significant role.
more than gibberish. Take the current effort, The
e following is a look at what Victors for Michigan campaign,
y the endowment is, how it which aims to raise $4 billion.
and why it is important for Rather than giving gift money
nts. The University also has directly to students, the funds are
plex mechanism for how it generally invested. The proceeds
:s its endowment funds - from those investments can con-
es that have a direct impact tinue to fund scholarships for
dent life. years.
University spokesman Rick
The endowment Fitzgerald said the destination
defined by Rafael Castilla, for...
irectdr of investment risk See ENDOWMENT, Page 2A

LUNA ANNA ARCHEY & RUBY WALLAU/Daily
Protesters gather on the Diag on Tuesday to hold a vigil for Michael Brown, a Black teenager killed by police officer Darren Wilson in Ferguson, Mo. in August,
followed by a march to City Hall. On Monday, a grand jury in Ferguson decided not to indict Wilson on any charge related to Brown's death.
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idents lead vigil a Ferguson, Missouri. police
officer with the August shoot-
d protest march ing death of teenager Michael
Brown.
after Michael The vigil, which occurred in
conjunction with events across
Brown ruling the country, was intended to cre-
ate a space for healing as well as
By EMMA KERR increase awareness of the case
Daily StaffReporter and broader issues on race rela-
tions nationwide.
re than 1,000 students and Student organizers said they
unity members gathered hoped to hold a vigil for Michael
idarity on the Diag Tues- Brown and others that have been
ght following a grand jury subject to police violence across
on Monday not to charge the nation. Student organiza-

tions supporting the vigil includ-
ed the Black Student Union,
Students Allied for Freedom and
Equality and the Student Union
of Michigan.
LSA sophomore Noor Ahmad,
an event organizer, said she saw
the situation as an opportunity
to inspire discussion and cata-
lyze change.
"Since so many people feel so
helpless in these kinds of situa-
tions, we wanted tohave an open,
peaceful forum for people to talk
about it and to come together as
a community to do something,"

Ahmad said. "People are so
upset, and this is something to
get everyone even more fired up
to really want to make a change."
The grand jury's decision not
to indict Wilson followed three
months of heightened tensions
in Ferguson. The decision drew
crowds near the city's police sta-
tion, where thousands of people
gathered peacefully. Despite
calls for calm by the county
prosecutor and President Barack
Obama, arson and looting dam-
aged local businesses as the night
See VIGIL, Page 3A


STATE POLICY
Election results
indicate support
for legalization

ZACH MOORE/Daily
LSA junior Jennifer Cusmano in a face-off against a player from Little Caesars Senior A team at Yost Arena on Tuesday.
CITY COUNCIL
Students hope to secure
seas con A2 Cty1 Council

Marijuana was
decriminalized in
Ann Arbor in 1974+
By EMMA KERR and
JACK TURMAN
Daily StaffReporters
As more states and munici-
palities are voting to decrimi-
nalize recreational marijuana
use, Ann Arbor could be closer
to legalization.
The residents of six Michi-
gan cities voted to decrimi-
nalize the use of cannabis on
election day this year. Marijua-
na use is legal in some form in
23 states, and was legalized for
recreational use this Novem-
ber in Alaska and Oregon. The
states are the third and fourth
states to adopt such a policy.
LSA senior Brian Kardell,
codirector of Students for Sen-
sible Drug Policy, said his orga-
nization is working to create a
dialogue surrounding the need
for marijuana legalization.
"Our goal is basically have
open conversations about drug

use and drug abuse," Kardell
said. "We think the war on
drugs is a failed policy. It puts
hundreds of thousands of peo-
ple in prison for drug-related
offences. Ann Arbor is consid-
ered a safe place for marijuana,
but we don't condone or con-
demn drug use, we just know
the drugpolicy needs to change
on a large scale."
Kardell said his organiza-
tion's support of the legal-
ization of marijuana in the
state of Michigan stems from
observing what has happened
in other states following can-
nabis legalization, considering
the negative effects of keeping
marijuana on black markets
instead of regulating it.
"All we have to do is look to
Colorado and Washington to
see how much money the state
has made because of the legal-
ization and regulation of mari-
juana," Kardell said.
The use of marijuana has
been decriminalized in Ann
Arbor since 1974, but the pos-
sibility of legalizing the sub-
stance in Michigan could be
SeeMIDTERMS, Page 3A

TECHNOLOGY
'U'looks to
provide new
unplugged
TV options
Currently in testing,
Philo aims to offer
cable streaming
across campus
ByAMRUTHA SIVAKUMAR
Deputy Magazine Editor
University Information and
Technology Services doesn't
want students to rely on Netflix
for catching up on their favorite
shows. Rather, it's ready to bring
live TV on-campus - delivered
directly to students laptops and
smartphones.
Philo is a service that allows
students on campus to stream
and record live TV over the
web. First launched in 2011 at
Harvard University, Philo now
provides a way for universities
with existing cable TV contracts
to transmit their content online.
Currently, any University
affiliate with a.unigname and
Kerberos password can log in
to the University's subdomain
See PHILO, Page 3A

No student has held
a seat on the Council
since the'70s
By SHOHAM GEVA
Daily StaffReporter
There were no Republicans on
the ballot during last fall's City
Council elections, but several

Democratic candidates faced a
challenge from another party.
The Mixed Use party, com-
prised mostly of University stu-
dents, ran two candidates for
seats on the council, including
then-LSA senior Conrad Brown
and Eastern Michigan University
student Sam DeVarti.
Both lost, but were followed by
several more student challeng-
ers this year - LSA sophomore,

Sam McMullen, who lost in this
year's Democratic primary, and
now, University alum Will Leaf, a
former co-chair of the Mixed Use
party who is running as a Demo-
crat in next year's Council race.
Student City Council members
have a short but interestinglegacy
in Ann Arbor. In 1973, University
alum Kathy Kozachenko became
the first openly gay or lesbian
See COUNCIL, Page 3A



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