INDEPENDENT SINCE 1880
The Corne¬ Daily Sun Vol. 129, No. 115
THURSDAY, MARCH 28, 2013
Investment Officer: Divestment May Hurt Cornell’s Endowment
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ITHACA, NEW YORK
16 Pages – Free
Let’s get loud
By CAROLYN KRUPSKI Sun Staff Writer
In response to students fighting for Cornell to divest — or remove its investments — from the fossil fuel industry, Cornell’s Chief Investment Officer said pulling the University’s investments out of the industry may negatively impact its endowment returns. “This decision would CIO A. J. Edwards said have a material that although impact on the return d i v e s t m e n t may seem to of the endowment.” be “a clear A. J. Edwards and straightforward objective ... the reality is far more complex.” “If the University decided to exclude [energy sector] investments from its endowment, this decision would have a material impact on the return of the endowment and its contribution to the operating budget of the University,” Edwards said. According to Edwards, the expected rate of return on investments in the energy sector is one of the highest of all of the asset classes the University invests in. In contrast, to date, investments in alternative energy strategies in general have rarely produced returns that meet Cornell’s risk and return requirements, Edwards said. As a way to pressure the University to divest, the Student Assembly passed a resolution in early February, calling for the “divestment of all fossil fuel related investments by the See DIVESTMENT page 4
CHRISTOPHER GREGORY / THE NEW YORK TIMES
Protesters both in support of and in opposition of same-sex marriage demonstrate outside of the U.S. Supreme Court Wednesday, as the court finished hearing arguments on the Defense of Marriage Act.
Grad Students Detained Near Border Both refused to answer queries about citizenship status
By JINJOO LEE Sun News Editor
After refusing to answer a border patrol agent’s question about their citizenship status at a Texas airport near the border between the U.S. and Mexico, Omar Figueredo grad and Nancy Morales grad were arrested. Figuerdo was arrested for failing to identify him-
self, resisting arrest and obstructing a passageway, while Morales was arrested for interference with public duties, a class B misdemeanor. The two were released from jail in Brownsville on bond at approximately 7:30 p.m. on Tuesday. Figueredo said that they refused to answer the agent’s question not because they did not have docu-
Clements J.D.’88: Citizens United Ruled Incorrectly
See DETAINMENT page 5
News Oscar Is Very Grouchy
The City of Ithaca is reducing its trash collection from five to four days in an attempt to respond to economic constraints and increase its efficiency. | Page 3
By RUDY YODER Sun Staff Writer
had a passion for urban and regional studies and aspired to make the world a more just place. Angela née Graf, Quandt’s mother, described Quandt as “someone who could find the good in everything and everyone.” She said that, even at a young age, Quandt
Former Mass. Assistant Attorney General Jeff Clements J.D. ’88 spoke Wednesday about his efforts to challenge the Supreme Court’s decision in Citizens United v. Federal Election Commission. The case, settled in 2010, held that the government may not limit corporate spending on political campaigns. Clements, who has founded a national campaign — Free Speech for People — to try to overturn Citizens United v. FEC, said Americans face a serious issue of money dominating politics. He said that democratic elections are being dominated — and unfairly influenced — by billionaires. According to Clements, 200 people contributed 75 percent of donated money to the 2012 presidential campaign, 32 people contributed as much as the entire “small donor pool” — which is comprised of people who donate under $200 per election cycle — and 1,900 donors were responsible for 97 percent of Super PAC money. These numbers demonstrate that only a small elite controls political debate, according to Clements, which he said means that
See MEMORIAL page 5
See CITIZENS UNITED page 4
MATT MUNSEY / SUN STAFF PHOTOGRAPHER
Reaching out | Andrew Quandt, left, brother of Joseph Quandt ’15, speaks with Andew Pike ’15, one of Quandt’s friends, in Anabel Taylor Hall Wednesday.
Large Attendance at Memorial Service for Joseph Quandt ’15 By ALEXA DAVIS Sun Staff Writer
More than 150 students, family members and faculty attended a memorial service for Joseph Quandt ’15 at Anabel Taylor Hall Wednesday. Attendees remembered Quandt — who died of natural causes on Feb. 27 — as a bright, quirky and selfless young man who
Opinion Checking It Out
Jimothy Singh ’13 provides tips and tricks on how to pick up people in the library. | Page 7
Dining And the Winner Is...
Four Seasons and Koko face off in a Collegetown Korean barbeque smackdown. | Page 8
Sports Winning Streak
The men’s lacrosse team defeated Siena College, 17-9, in a home game Tuesday. | Page 16
Weather Wintry Mix HIGH: 39 LOW: 30