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June 28, 1999 - Image 1

Resource type:
Michigan Daily Summer Weekly, 1999-06-28

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Monday, June 28, 1999

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Re ort ex lores athletic finances

By Nika Schulte
Daily News itor

of athletic facilit
U project a ba

Offering suggestions for the long-term planning of controlling expe
the University's Athletic Department, a four-member work towa
committee released a report last week outlining ways to reporting practic
improve the Athletic Department's finances. energize de
The committee was appointed by University ble donors.
President Lee Bollinger in February following the Kasdin serve
increase of non-student football ticket prices from $27 to included Univer
$35. The price was later lowered to $31. Barry, Educatio
University Chief Financial Officer Robert Kasdin alumnus Bill Ma
*said the report, which offers four recommendations for The committe
the department, "speaks for itself." The report suggests ic department fi
the athletic department: The Ann Arbo
a set aside predetermined funds for the maintenance Tom Goss projec
Students to see
ower loan fees
By Seva Gunitskiy argue that the Department of
Daily Staff Reporter Education has no jurisdiction over
Students looking to borrow interest rates.
money from Uncle Sam may be in Education Force Committee
for a pleasant surprise. The U.S. members in Washington called
Department of Education recently the proposal illegal, contending
proposed a plan to slash interest only Congress has power to
rates for student loans, a move change interest rates. They cited
which could save students across the Direct Loan Program's loss of
the country millions of dollars. market share as a catalyst for the
The three-part plan calls for an proposal, adding that the program
interest rate reduction for students is attempting to become more
who pay electronically and consol- competitive at a cost to taxpayers.
idate their debts while in school, But supporters argue the reduc-
and a reduction in the up-front tion is merely a step toward con-
loan fee. ¬ęsistency and fair-
For a student ness in the loan
who owes aprogram. The
$10,000 debt on other major loan
a 10-year repay program, Federal
ment program, ~4 FamiIY
the savings g I lage Education
would amount A0 em t rah* Loans, lowered
to $631. A sav- : . its rates last year.
ings of $374 '> Private lenders
would come A O t t issue FFEL loans
from consolidat. .. ..:.:; with a govern-
ing debts while t n i ment guarantee
in school or dur- against default
ing the grace and are in direct
period, competition with
"We are very supportive of any the Direct Loan Program.
efforts on the part of the federal Students borrowing directly
government that increases funds from the government, however,
available to students," said have been paying higher interest
laigaret Rodriuez, University rates. This is the discrepancy
associate director of financial aid. which the new reduction works to
Opponents of the reduction counteract, supporters contend.
See LOANS, Page 2

lanced budget with careful attention to
nses and less dependence on revenue.
rd standardizing accounting and time
es with other University departments.
velopment efforts by identifying possi-
d as chair of the committee which
sity Deputy General Counsel Elizabeth
on Prof. Percy Bates and University
e's report came at the end of the athlet-
scal year.
or News reported that Athletic Director
cted a $2 million deficit for the year due

to fewer sales in licensed clothing and merchandise as
well as losses from Internet ventures and M-Vision, the
broadcasting of away football games at Crisler Arena.
Assistant Athletic Director for Media Relations Bruce
Madej said the department welcomed the insight from
Anderson Consulting, the firm hired to work with the
"The committee's report was not a surprise, it was
something we wanted" Madej said.
Goss could not be reached for comment about the
report but Madej said the department was already con-
sidering some of Anderson's suggestions.
"They brought up more ideas which we are planning
on implementing," he said.
See REPORT, Page 7

Members of the band Three Speed perform at Top of the Park Saturday evening. This
was the band's second year performing at the festival.
By Jeannie Baumann "I like the shown and the performances,"
tDaity Staff Repoiter said Dickerson while relaxing in the
Although this park may not have see- Garden, the event's designated area for
saws or sandboxes, the ement surroundings guests who are of legal drinking age.
of the Fletcher Street parking structure still "Occasionally, I'll try and see one of the big-
provide a place for summer fun. ger acts like The Capitol Steps," she said.
As one of the highlights of the 16th sns- ' Kathy M iller. also an Anti Arbor resident,
at Ann Arbor Summer Fest, Top of the Park has ben to Top of the Park for the last three
provides the setting for camaraderie, enter- yearn. "It's fun to pople watch. Plus, there's
tainment and outdoor amusements. a good variety of music and entertainment,"'
Sherry Dickrrson, an Ann Arbor resident shne said.
svho has atrended AASF for more thatn 10 The start of Top of the Park, which
years, said site eitjoys coming to Thp of the swiff cud July II, cans at a time swhen many
Park because she likes the bristling aimos- University students were looking
phnere and tie entertainment opportunities. See FEStiVAL. Page 2

$30M gift
By Michael Grass
Dly News Eatiir
University President Lee Bollinger
announced at the Board of Regents
meeting June 17 that philanthropist A.
Alfred Taubman will donate $30 mil-
lion to the College of Architecture and
Urban Planning, the Iargest financial
gift of its kind ever given to any school
of arehitecture.
Later during the meeting, the eight-
member board unanimously approved an
administrative recommendation to
rename the College of Architecture and
Urban Planning in Taubman's honor.
Bollinger said it is rare for the
University to bestow as high of an honor.
"It is a very serious matter to name
something at the University, whether it
be a professorship, room, building or
school' he said. "Naming a school is the
most significant of all of those."
Regent Andrea Fischer Newman (R-
Ann Arbor) noted that it has been a
"long time" since the University has
honored a donor by naming a school or
college after one.
The regents' approval of the renaming
will make the A. Alfred Taubman
College of Architecture and Urban
Planning the second University school
named in honor of an individual.
The regents established the Horace
H. Rackham School of Graduate
Studies in 1935 when the trustees of
the Horace H. Rackham and Mary A..
Rackham Fund of Detroit gave the
University $6.5 million to construct a
building for graduate studies and
establish an endowment to support
research and other scholarly activi-
Prior to this donation, Taubman con-
tributed gifts in the 1980s toward the
construction of the A. Alfred Taubman
Health Care Center and the Taubman
Medical Library.
"This is by no means his first gift, but
it is his largest' Bolhinger said. "This gift
is immensely significant.
Susan Feagin, University Vice
President for Development, said gifts
of such magnitude are t "rare occur-
See TAUBMAN, Page 3

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