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July 23, 2001 - Image 1

Resource type:
Text
Publication:
Michigan Daily Summer Weekly, 2001-07-23

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I

NEWS: 76-DAILY Monday
CLASSIFIED: 764-0557
wwmhigandaply.com One hundred ten 6ears of edio4tredom tr
'U rgnt ppov .5 uiion iincrease

'Athletics to move out
o red after 2001-2002
By Seth Klempner
Daily Sports Editor
With the end of the 2000-2001 fiscal year, University Ath-
letic Director Bill Martin announced at Thursday's Board of
Regents meeting for the third consecutive year the Athletic
Department is running a deficit.
The good news is the deficit was $3 million less than
expected, and the department expects to be out of the red by
the end of the 2001-2002 fiscal year.
Martin said the Athletic Department is "$3 million better off
than I told you we'd be in the budget I didn't think I'd have to
live with," referring to his budget presentation he made last
year when he was serving as the interim athletic director.
See ATHLETICS, Page 2

Athletic Department
budgeted revenue
2001.2002
* Admissions, 49 percent
* Conference distributions, 17
percent
9 Corporate sponsorship and radio,
12 percent
* Annual donations, 6 percent
* Licensing revenues, 4 percent
5 Other, 12 percent
Source: University of Michigan
Athletic Department

2001-2002 budget first ever
to surpass $1 billion mark
By EMlzabeth Kassab
Daily Nets Editor undergraduate students and 7.3 percent raise for

I
it

out-of-state undergraduates. Tuition increases
The University Board of Regents approved have hovered around 3 percent since then.
Friday by a 7-1 vote the 2001-2002 fiscal year The proposed budget is designed to maintain
budget, which includes a 6.5 percent tuition the quality of the University, sustain important
increase for all undergraduate and most gradu- initiatives and consolidate the gains of the past
ate school programs on the Ann Arbor campus few years, Courant said. The budget is set for
for the upcoming academic year. $1.04 billion, the first time it has surpassed the
"It's the toughest budget year we've had in a billion dollar mark.
long time," said Paul Courant, associate provost One reason for this fiscal year's increase is a low
for academic and budgetary affairs. Tuition has expected increase in the state's appropriation to the
not been raised this much since fiscal year 1995- University, a 1.5 percent increase announced last
96 when there was a 6.3 percent hike for in-state See BUDGET, Page 2
Sluggish economy
r -may impact mhirng
By John Polley
Daily Staff Reporter

TRICENTEN
By Elliott Wells-Reid
Daily Staff Reporter
DETROIT - Stevie Won-
der came home to help down-
town Detroit come alive for
the celebration of the city's
300th birthday Saturday, cul-
minating a weeklong celebra-
tion.
Fifteen tall ships docked
near Hart Plaza along the
Detroit River to commemo-
rate Detroit's role in the War
of 1812.
Another nine
ships docked
at Dieppe
Park in Wind-
sor allowed
Canadians a
close-up view
of the ships without having to
cross the river.
At 132 feet, the mast of the
Bluemose I, the tallest ship,
made it a popular attraction.
Comedian David Alan Crier
hosted the Homecoming con-
rest, featuring actor-comedi-
is s Dave Coulier an d Tim
Allen, who golilsheir star s itt
the Comedy C sole in Der it ABOVE
asoel as M otow n teges do to get a
the t mptotions. TOP. Ti
[ SneDET1SIT, Fog4 whIch a
NEWS _
The lives and backgrounds of tihee
artists whose work was featr ed at the
Art Fairs is profiled.
Pages 8, 9

;NIAL
CELEBRATION

.
3

In a speech before Congress Wednesday, Federal Reserve Board
Chairman Alan Greenspan warned of continued weakness in the econo-
my, noting in particular that unemployment is expected to continue its
climb in the coming year. As the autumn campus recruiting season
draws near, the prognosis is sure to cast a heavy shadow over students'
job prospects.
Following years of record campus recruitment, the hiring momentum
slowed considerably last winter when tumbling stock prices led the
economy into an abrupt slow-down. As companies scaled back profit
estimates and reassessed employment needs, a number of students who
had secured employment in the fall recruiting season were suddenly
confronted with an uncertain future.
"We've heard of delays in hiring, and in winter we had some rescind-
ed offers," said Cynthia Redwine, director of the College of Engineer-
ing's Career Resource Center. "Companies are having to slow down in
terms of the number of hires."
In the technology, automotive and consulting industries, where the
economic downturn was particularly acute, many firms made the deci-
sion to delay recruits' start dates in order to keep pace with slowing
business. With a number of last year's recruits still delayed - some for
as long as a year - last fall's recruitment overestimates are expected to
compound job scarcity in the coming year.
"Most companies over-recruit in good times and under-recruit in bad
times," explained Business Prof. Richard Price, a senior research scien-
tist at the Institute for Social Research. "One of the first things (compa-
nies) will do is slow down recruiting - they already have a workforce
that they've invested in"
While matty companies have dealt with the dowItsr by delay-
ing recruits;'start dates inling onsultirisg gints Accenteeand
ArtisicAnr 'ora n l sibe'offisshave songi'5"aLeisu"tive meth-
ods The Doston Cos u , Group introdced a"Lasgutage
See EMPLOYMENT, Page 7

RIGHT: The Niagra sets salde docking at Hart Ptam Is all w viewers tne eppo Sanity
close leek before joisrig te ether vessels ir the po do a srps.
sessands uS people e usd the Hart Pines wateresot is get a view of the parade et ships
ailed damn She Detroit Rar in celohretian of Detroilo S3kh sthiay.

ARTS SPORTS
Hungry dinosaurs and a musically Tommy Amaker adds a new scholarship
inclined Italian role Dashy Arts this player to the 2001-02 basketball team in
week. Marcus Bennett of Renaissance High.
Page 10 Page 13

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