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'U' to divest tobacco stock
Monday, June r19, 200(
By Laura Deneau
Daily Staff Reporter
The University Board of Regents decided to divest the
University's holdings of tobacco stocks on Friday.
Recently, an Ad Hoc Advisory Committee, established by
University President Lee Bollinger last September, recom-
mended that the Regents sell all of the University's stock in
tobacco companies.
Other advocates for the sale of the tobacco stock spoke at
the Regents' meeting on.Thursday.
The debate to divest from tobacco companies has been going
on for three years due to hesitancy to get into what Bollinger
called "a situation where you are debating constantly what are
good companies, what are bad companies, what are good
things, what are bad things"
Robert Kasdin, University executive vice president and chief
financial advisor, said the decision will not have "any meaning-
fisl impact on the financial health of the University."
Bollinger said "the effect on the portfolio would be infinites-
imal, minimal to say the least."
The ethical and moral obligations of the University took
precedence over financial issues n arguments made during
the public comments session, illustrating how the holding of
tobacco stocks is antithetical to the core missions of the
University.
The argument that divesting in tobacco stocks sets a strong
example of non-support throughout the community toward
companies with harmful products was clear.
"It is one of the University's jobs to decide when an issue
is morally and ethically against a community's interest."
Eugene Feingold, professor at the School of Public Health
and past president of the American Health Association said.
"When a major institution like U of M publicly announces
it will not invest in an industry it is attacking the legitimacy
of that industry...the University helps to educate the public,"
he added.
A strong emphasis at the meeting was also placed on the
need to present a concurrent stand concerning the
University's values.
"If a university urges students to serve the public interest it
surely needs to do so as an institution," said alum Douglas
Kelly, a former employee at the University's Flint campus.
Similarly, alum Audrey Jackson pointed out that much of
the University's reputation relies upon its health center and
See TOBACCO, Page 3
Possession
conviction
to result in
By Sava Gunitskiy
Daily Staff Reporter
Protesters from the AFSCME march around Regents' Plaza near the Fleming
Building on Thursday. They oppose the University Hospital's hiring of Aramarck.
Hospital cafeteria staff
protests new company
By Sara Fedewa
9305yhittf Reporer
Mctmhers and supporters of the
\tcrtcan Federation of State.
Cout sod Municipal Emploees
unio sathered hind the Fletsspg
Adt ini_ trition Building I h ir T' ,
afternoos to shosw their outrage at lie
Unis ersity IHospital's decison to
contract Aramark, a food ser ice
omnpanx to take oser certain por-
tions of the hospital's cafeteria work.
The contract with Aramark will
result in a job loss or shift for 39
hospital cafeteria employees and
is pending the approval of the
University Board of Regents.
Associate Administrator for
Operations at the hospital, Tom
Peterson said that the decision to
contract work out to Aramark ssas
made in an effort to tighten the
fidget at the hospital,
Peterson said the hospital has a
commitment to patient care and
research and that this decision,to
outsource will provide more funds
for areas specific to the hospital's
main goals.
Following the informational
picket, members of the union
attended the Regent's meeting to
attempt to persuade them to reject
the toss contract with Aramark.
The sion's major grievances are
tht thte Hspit tis breaking a contract
with its employees and that Aramark
has a history of food poisoning asso-
ciated with their food service.
Peterson said that he has no
knowledge of any incidents of food
poisoning associated s ith Aramark.
Warren Jenkins, bargaining chair
for the local AFSCME, said that the
hospital's own cafeteria and catering
sers ices have never had one incident
of food poisoning and that Aramark
is pitting patients and employees in
danger.
to the union, an issue of even
greater importance is that union
employees may be losing their jobs.
"We're not looking for our staff to
be adsersely affected" Peterson said.
Peterson said that there are other
positions s ithin the hospital for,
See UNION, Page 3
interim Athletic Director Bll Martin speaks to the University's Board of Regents at
their meeting on Thursday about ways to increase Athletic Department funds.
t rt f
t0% raise a e C iu UllS
By Arun Gopal
Dily Sports Editor
With the University's athletic depart-
ment saddled svith a S3 million budget
deficit, Interim Athletic Director Bill
Martin has been busy searching for ways
to get the department back in the black.
Martin made a ntmber of proposals
to the Uiversity's Board of Regents
Friday to cut costs and augment res-
enues. The list of ideas included an
increase in football ticket prices, budget
cuts for virtually all of Michigan's var-
sity sports - except football and the
two golf teams - and preferential seat-
ing programs. Martin also suggested
the Unisersity could cover the playing
field at Michigan Stadium and rent the
tenue for summer concerts.
Martin has entered into a less-than-
See MARTIN, Page 2
Double play
Quarterback Drew H
time between footbal
SPORTS. Pape 1'
A new law coming into effect on July
I will require the federal government to
delay or deny all financial assistance to
students with any sort of drug conviction.
A measure that could possibly affect
thousands of students, the law has been
around for two years in a different
form. Whereas students were previous-
ly allowed to leave blank question 28 of
the Free Application for Federal
Student Aid form - which deals with
prior drug convictions - a new
amendment will make it mandatory to
answer. Leaving the question blank,
as many have done before, will now
result in heavy fines and possible
imprisonment.
"There were a significant number of
applications left blank on the FAFSA
form," said Lisa Cain of the U.S.
See DRUGS, Page 7
enson splits his
1 and baseball.
3
I
Over the Hill Who's the man?
University Board of Regents approved a $30 mil- A bad motha ... or just plain bad?
renovation to the ailing Htll Auditorium. Daily Arts reviews 'Shaft.'
N . S,Page 3 ART, Page 10