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Wednesday, September 23, 2015
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the statement
Former vice-chair
of the U.S Federal
Reserve calls on
students to plan ahead
By EMMA KINERY
Daily Staff Reporter
Retirement may be a long way
off for the University students
who attended Tuesday’s Ford
Policy Talk, but the president
of one of the nation’s largest
nonprofit financial institutions
told them they should start
planning now.
Roger Ferguson, president and
CEO of TIAA-CREF, discussed
financial literacy and economics
during
a
discussion
with
University students and faculty.
TIAA is one of the largest
nonprofit financial institutions
in the nation and one of the
retirement policy providers for
the University.
Ferguson,
the
former
vice chairman of the Board
of
Governors
of
the
U.S.
Federal
Reserve,
previously
served
on
President
Barack
Obama’s Council on Jobs and
Competitiveness
and
worked
on a long-term study for the
National Academy of Science
on the effects of the aging
population in the United States.
During the talk, Ferguson
said he sees Americans’ lack of
fiscal knowledge as one of the
most pressing issues facing the
U.S. economy.
Thirty percent of Americans,
when tested on their financial
literacy, fell into the category of
financially illiterate, Ferguson said.
“The state of financial literacy
is
abysmal,”
he
said.
“The
problem is that most parents
are not very comfortable with
finances, and therefore their
kids are not comfortable. Adults
in general aren’t comfortable,
teachers are uncomfortable … So
I think that there’s this general
lack of financial awareness that
permeates our society.”
The solution, he said, lies in
education, citing work he’s doing
with 15 graduate schools to try to
GOP presidential
nominee hasn’t
won the state since
George H.W. Bush
By SHOHAM GEVA
Daily News Editor
MACKINAC
ISLAND
—
They came to Michigan, and
they recited the usual platitudes
Republicans in the state have
been saying for at least the past
27 years: 2016 is the year the
GOP takes Michigan back in the
presidential election.
Republicans haven’t won the
state in a presidential election
since 1988, but to the five GOP
presidential
candidates
who
came to Mackinac Island this
weekend
for
a
Republican
leadership conference, it wasn’t
just platitudes. They were high-
confidence predictions.
At a rally on the island,
Sen.
Ted
Cruz
(R–Texas)
vowed to campaign hard in
the state, promising a repeat
of the Reagan Revolution — a
reference to former President
Ronald
Reagan’s
ability
to
attract Democratic voters, and
the groundswell of support
he found among Democrats in
Macomb, Mich.
Sen. Rand Paul (R–Ky.), the
winner of the weekend’s straw
poll and a frequent visitor to the
state, touted Michigan-focused
policy — like his plan to return
money to large urban areas like
Detroit through what he calls
“economic freedom zones.”
To reporters, he said he
thought he’d be competitive
in Michigan because of his
positions on issues like Detroit
and privacy, citing the NSA’s
surveillance of cell phones
through the Patriot Act.
“When you talk to college kids
or you do a survey, let’s say even
40 or under, 83 percent think we
went way too far in collecting all
the phone records,” he said. “And
Students also choose
election dates and
strategize around
intercouncil unity
By JACKIE CHARNIGA
Daily Staff Reporter
The director of the Office
of Student Conflict Resolution
addressed members of Central
Student
Government
on
Tuesday
amid
an
ongoing
revision
process
for
the
Statement of Student Rights and
Responsibilities.
Erik Wessel, the director,
discussed ways student could
contribute input during the
revision. The statement outlines
expectations
for
student
conduct, and suggests sanctions
and disciplinary procedures if
they are not met.
The statement is amended
every
three
years.
Wessel
said
it
was
important
for
students
to
be
actively
involved in the amendment
process, particularly because
a
University
student
is
automatically
bound
the
statement upon their enrollment
at the University.
“The statement is best served
when the entire community
has a voice in its continued
creation,” Wessel said, “My
hope is that you will join me in
that process.”
CSG’s
Student
Conduct
Advisory Board is in charge of
drafting the amended statement.
They draft the statement based
on
conversations
with
the
student body. The next forum
will be held Oct. 1 at Weill Hall.
Wessel provided examples of
the kinds of conflicts that may be
addressed in the new statement,
such as how the University
handles students who enter
buildings unauthorized, such as
the Big House.
Remarks highlight
opportunities for
LSA students after
graduation
By EMILY MIILLER
Daily Staff Reporter
The
setting
was
intimate
Tuesday
at
the
#withDeanMartin event held
in the basement of Bursley
Residence Hall.
LSA Dean Andrew Martin
hosted the open discussion
Tuesday night, continuing a
series of forums held last year.
The
audience
included
a
handful of freshmen as well
as several dean ambassadors,
the
students
who
helped
organize the event and work
with Martin’s office over the
year to engage with students as
part of the Dean’s Ambassador
Program.
The tone was informal, with
questions ranging from study
tips to the dean’s role at the
University.
Martin
emphasized
the
importance of taking advantage
of LSA’s growing internship
programs, and said his office
was looking into opening a
Opportunity Center to ensure
students are aware of internship
opportunities.
$12 million
allocated for
North Campus
building renovation
By KATIE PENROD
Daily Staff Reporter
More than 10 years after
disassembling
its
nuclear
reactor,
the
University
is
allocating
$12
million
to
renovate
the
building
and
create a Nuclear Engineering
Laboratory in the existing space.
The
building
was
first
created following World War
II, as part of a project called
the
Michigan
Memorial
Phoenix Project. Its purpose
was to honor members of the
University who had died in the
war, and was recognized by
President Dwight Eisenhower
as a facility for peaceful
nuclear research.
Alum Bob Beyster and his
See POLICY, Page 3A
See GOP, Page 3A
See NUCLEAR, Page 3A
See DEAN, Page 3A
See CSG, Page 3A
GOVERNMENT
RESEARCH
STUDENT GOVERNMENT
EMILIE FARRUGIA/Daily
Justin Wolfers, professor of Economics and Public Policy, and Roger Ferguson, president and CEO of TIAA-CREF and former vice chairman of the U.S. Federal
Reserve, have a conversation about fiscal knowledge and financial literacy in Lydia Mendelssohn Theatre at the Ford School on Tuesday.
RITA MORRIS/Daily
LSA Dean Andrew Martin answers students questions and discusses undergraduate opportunities in the Living Arts
Lounge at Bursley Hall on Tuesday.
Policy talk highlights need
to prepare for retirement
Optimism
for 2016
abounds on
Mackinac
At CSG, OSCR
director speaks
about amending
rights statement
Dean Martin talks student
internships at open forum
Former ‘U’
reactor to
become lab
for nuclear
research
INDEX
Vol. CXXIV, No. 130
©2015 The Michigan Daily
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A RT S . . . . . . . . . . . . . . . . . . . . . . . . 5A
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