Daily Lobo new mexico
The Independent Student Voice of UNM since 1895
tuesday November 25, 2014 | Vo l u m e 1 1 9 | Is s u e 7 0
Lottery CEO’s proposal draws ASUNM ire By David Lynch
The Associated Students of UNM voiced their support of the current state of New Mexico’s lottery scholarship that many students depend on, in the wake of lottery CEO David Barden proposing a reduced amount going toward education. Resolution 9F, which passed unanimously at ASUNM’s final meeting of the semester last Wednesday, opposed the possible
dip in percentage of lottery profits that benefit students across the state. Sen. Gabriela Eldredge, who sponsored the legislation, called Barden’s proposal unfair. She said she opposed more money potentially going to overhead. “It’s a few people getting a large amount of money that could be helping out a lot of people in education,” Eldredge said. Eldredge said that the resolution does not advocate for a higher
percentage going toward the scholarship, but that the amount remains consistent. “Basically, our legislation was saying that we stand with the 30 percent — we don’t want it lowered,” Eldredge said. “The idea was to bring it to the capitol’s attention, so that they realize we are concerned about it.” The resolution states that in the 2012-2013 school year, almost 70 percent of students in research universities throughout the state were aided
by the lottery scholarship. Barden said he commended ASUNM for being involved with the issue. However, he regretted that there was confusion surrounding his motivations. Barden opined that a lower percentage would help New Mexico students in the long run. “Students receive actual dollars for scholarships, not percentages,” Barden said. “As an example, does 30 percent of $100 million generate more scholarship money than 25
percent of $150 million? The scholarship fund could stand to gain an additional $12.5 million through more robust sales if the mandate were to be abolished.” Barden’s plan is to increase the amount of money that goes towards prizes and further promoting the lottery. If more people play, more money would potentially go toward education.
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women’s basketball
Lobo upset bid falls short against Stanford By Liam Cary-Eaves
The stage was set for New Mexico to upset No. 5 Stanford. The Lobos were down 66-65 as redshirt senior guard Antiesha Brown stepped to the line with two free throw attempts and only 20 seconds left. Brown sent both bouncing off of the iron, and UNM lost 70-65 to Stanford on Monday night at The Pit. “We didn’t think we were going to walk away here with a loss,” UNM head coach Yvonne Sanchez said. “We’ve just got to hit free throws. It’s not one person — that’s been our Achilles’ heel.” Stanford head coach Tara VanDerveer said her team didn’t come into Albuquerque expecting to push the Lobos over. “We got them down, and we couldn’t put them away. That’s a compliment to them,” VanDerveer said. “This is a great win for our program and for our team.” VanDerveer said she was surprised her squad was able to leave The Pit with a win because of the Cardinals’ struggles from the charity stripe. However, Stanford (3-1) converted on all six of its free throws with 30 seconds left in the game, while the Lobos went 1 of 4 in that time span. “Everybody remembers the last two (free throws), and they shouldn’t,” Sanchez said. “We’re going to be
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Hoops page 3
William Aranda / Daily Lobo / @_WilliamAranda
Lobo redshirt senior guard Antiesha Brown wipes her face after missing her free throws during the last minute of the game against Stanford at the Pit on Monday night. Despite the potential for an upset, the Lobos lost to Stanford 70-65.
Ex-Enron CFO gives ethics lecture By Jonathan Baca
In a rare public lecture, former Enron Chief Financial Officer Andy Fastow held up his “CFO of the Year” award in one hand, and his federal prison ID card in the other. “I got both of these for doing the exact same thing,” he said before a crowd of eager UNM business students. Fastow went on to talk about his role in the biggest corporate scandal of the century and the lessons he learned about the ethics of business. In 2001 the Securities and Exchange Commission investigated Fastow’s role in hiding massive amounts of Enron’s debt using off-balance sheet accounting and special-purpose entities. Fastow was eventually convicted of fraud, money laundering and conspiracy, and was
forced to forfeit nearly $24 million in assets. He was sentenced to six years in federal prison and was released in December 2011. At the start of the lecture, Fastow joked with the audience about being confused each time he is asked to speak on the topic of ethics. “I think inviting me to talk about business ethics is a bit like inviting Kim Kardashian to talk about chastity,” he said. The collapse of Enron was a dramatic example of the failure of business people to put principles before rules, Fastow explained — a mistake that corporations and governments still make to this day. For six years in a row Fortune magazine named Enron the “Most Innovative Company,” and Fastow himself was praised for his creative use of
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Ethics page 3
Sergio Jiménez / Daily Lobo / @SXfoto
Former Enron CFO Andrew Fastow raises both his “CFO of the Year” award and prisoner identification card during his presentation at the Anthropology building on Monday. The presentation, titled “Rules versus Principles,” was put on by the Daniels Fund Ethics Initiative at UNM, which supports business ethics education.