04 09 14 entire issue lo res

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INDEPENDENT SINCE 1880

The Corne¬ Daily Sun Vol. 130, No. 120

WEDNESDAY, APRIL 9, 2014

!

ITHACA, NEW YORK

20 Pages – Free

News

Science

Sports

Weather

Collegetown Bound

Hot Couture

Not Horsing Around

Cloudy HIGH: 45° LOW: 28º

The Roitman Chabad Center will hold weekly events at the former Green Café this semester. | Page 3

Divestment debate | A.J. Edwards discusses the feasibility of divesting from fossil fuels Tuesday.

The Cornell equestrian team competed in the Zones competition this weekend. | Page 20

Students have developed a type of athletic wear that changes color in response to temperature. | Page 11

C.U.:Divestment Would Have Low Impact Official says divesting from fossil fuels would be merely ‘symbolic’ for Cornell By SOFIA HU Sun Staff Writer

The University’s divestment from the fossil fuel industry would likely have a minimal impact on the companies it would potentially be divesting from, according to Chief Investment Officer A.J. Edwards. At a University Assembly meeting Tuesday, some senior administration officials said divestment would be “symbolic,” instead of significantly affecting climate change policy or the University endowment. Other

officials, however, argued that Cornell’s divestment may start a social movement across universities. The 200 companies with the largest carbon reserves have a combined value of $3.95 trillion, Edwards said. In contrast, the Ivy League schools have a combined $100 billion of assets and Cornell’s share of public energy stock is an estimated 0.0048 percent of that $3.95 trillion. Approximately 9 percent of the University’s long term investments are in energy, with about a third in public stocks and the rest in private investments, Edwards said. The private investments are mostly illiquid, and any potential divestment would only affect those public stocks, which consist of approximately 3 percent of the endowment. Investment in these public energy stocks increased the University’s endowment by approximately $100 million over the last ten years, Edwards said. Prof. David Shalloway, molecular biology and genetics, howev-

MICHELLE FELDMAN / SUN STAFF PHOTOGRAPHER

Ithacans Share Concerns About Affordability of Tompkins County Housing

Russia-Ukraine Conflict Similar to Cold War, Bulgarian Ambassador Says By ZOE FERGUSON Sun Staff Writer

By ASHLEY COLLIS-BURGESS

assessment for Tompkins county — said property taxes continue to increase at a rate of 3.57 perThe Tompkins County cent per year, which he said is Democratic Committee held a based off the uniform market forum to discuss the growing and is reflected in his assessconcerns of home affordability ments. in the county at Ithaca Town Tompkins County is limited Hall Tuesday. in its ability to regulate property At the forum, which was held taxes because it is at the bottom by the issues committee of the of both the federal and local Tompkins Democratic “chain,” according to Franklin. Committee, a panel of experts He added those higher up in this and Ithacans chain should spoke about be more costs for trans- ‘The biggest problem in responsible for p o r t a t i o n , housing affordability is paying their energy and real own share. constantly rising property taxes Monica expenses.” in terms of Moll — cotheir effect on owner of Moll Monica Moll housing affordProperties — ability. said the probPeter Meyers — one of the lem with housing affordability is founders of the Tompkins the constantly rising expenses County Workers’ Center — said from property taxes and the Tompkin County and New York inability to respond without residents currently allocate a sig- raising rent. nificant percentage of their “The biggest problem in income to housing. Based on the housing affordability is concost of housing, data shows that stantly rising expenses, including the living wage needs to be property taxes,” Moll said. “We raised, according to Meyers. can’t increase our inventory Meyers said he was “shocked based on economic atmosand astounded” that 43 percent phere.” of households in Tompkins pay According to Moll, her busimore than 30 percent of their ness operates on very small marincome while 30.2 percent pay gins in a “number game” where 50 percent or more. Jay Franklin — director of See HOUSING page 4 Sun Staff Writer

See DIVESTMENT page 4

Elena Poptodorova, ambassador of Bulgaria to the United States, spoke about the effects of the conflict between Ukraine and Russia on Europe and the Balkans at Sage Hall Tuesday. In her speech, Poptodorova emphasized what she called the “unwelcome” truth of the situation. “All romantics are gone,” she said. “We are back to reality.” Poptodorova also said she thinks nationalism should be a primary concern in considering potential complications of the Russia-Ukraine conflict. “If Mr. Putin [decides] to restore a past glory of

Russia and the Soviet Union, that would negatively provoke an even stronger reaction by the European Union,” Poptodorova said. “Nationalisms are the scourge of our times. The big worry for the whole of Europe is the rise of nationalisms.” Poptodorova added nationalist sentiments arise when countries are facing strife, and drew a subtle connection between the Russia-Ukraine conflict and Hitler’s attempted takeover of Europe. She also compared the current political situation to the Cold War, adding that the new conflict may represent a form of return to that era. “Now we are back to a past period, which none See AMBASSADOR page 4

ANTHONY CHEN / SUN STAFF PHOTOGRAPHER

Crimean crisis | Elena Poptodorova, ambassador of Bulgaria to the United States, discusses the impact of the Russian-Ukrainian conflict Europe and the Balkans with the Cornell community Tuesday evening in Sage Hall.


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