11-09-12

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INDEPENDENT SINCE 1880

The Corne¬ Daily Sun Vol. 129, No. 57

FRIDAY, NOVEMBER 9, 2012

!

ITHACA, NEW YORK

16 Pages – Free

C.U.Sees 2nd Lowest Endowment Returns Among Ivy Schools By AKANE OTANI Sun News Editor

News Hard Times

In 2012, 3,000 more people went to local soup kitchen Loaves & Fishes than they did in the year before. Kitchen organizers thanked the community for its support. | Page 3

IVY LEAGUES’ ENDOWMENT PERCENT RETURNS FOR FISCAL YEAR 2012 5.8

6

4.7

5 4

3.1

1 0 -1

2.3 0.14

By KERRY CLOSE Sun News Editor

A worker fell about four stories from the

construction site of Gates Hall and was hospitalized Thursday morning, according to University officials.

At 9:45 a.m., Scott Eckert –– an employee of Capital Construction, a subcontractor in the construction of the Bill and

No Blockheads Here

Nikhita Parandekar grad discusses the rigors of “Block IV” — a schedule for veterinary students during the fall of their second year. | Page 7

A New Hope

News that Disney bought Lucasfilm — and will fund a new Star Wars movie — has both excited and given fans pause, writes Colin Chan ’14. | Page 9

Weather Sunny HIGH: 48 LOW: 34

-0.05

Worker Hospitalized After Four-Story Gates Hall Fall

Opinion

Arts

1.6

1.0

PRINCETON

2

UPENN

3

YALE

7

See ENDOWMENT page 5

HARVARD

pension, according to Aditya Ramesh ’14, an Acacia brother. and MANU RATHORE “None of the allegations against us were for Sun Senior Writer hazing. We don’t want people to get the wrong impression. I am not sure [about the reason for the The Acacia, Pi Kappa Phi and Tau Epsilon Phi suspension],” he said. “We are scheduled to meet [Travis Apgar, associate fraternities have been placed on interim suspen- “None of the allegations against dean of students] tomorrow and that will clear up sion after the University us were for hazing.” things.” received reports alleging Aditya Ramesh ’14 University administrathat “dangerous behavior” tors were not available for — including hazing and high-risk drinking — occurred at the chapters, comment Thursday evening. The allegations came through reports from Cornell said Thursday. In an interview Thursday, Chris Sanders ’13, Cornell Police and individuals using Cornell’s hazpresident of the Interfraternity Council, clarified ing website, which allows students to report hazing that there were no hazing allegations against incidents online. Students can also submit reports Acacia or Pi Kappa Phi. See SUSPENSION page 4 Acacia was uncertain of the reason for its susBY AKANE OTANI

Sun News Editor

DARTMOUTH

Univ. Suspends Three Frats, Citing ‘Dangerous Behavior’

CORNELL

drinking mandate. On Thursday, the University placed three fraternities on interim suspension.

COLUMBIA

Rethinking the system | The Interfraternity Council meets in 2010 to contemplate its response to a new

BROWN

LAUREN BIGALOW / SUN FILE PHOTO

After seeing two consecutive years of double-digit growth, Cornell’s endowment return took a nosedive in the 2011-12 fiscal year, just breaking even with a 0.14 percent gain, the University reported Wednesday. Citing economic volatility, the University said that, as of June 30, the value of its endowment had dipped from $5.35 billion in fiscal year 2010-11 to $5.23 billion in 2011-12. The endowment shrunk because the University spent more of it than it earned from investments and philanthropic gifts over the same period. The results dealt a blow to the University’s hopes that its endowment was climbing back up to its

pre-recession high of $5.8 billion. Cornell, however, was not the only school to see a steep fall in its endowment returns over the last fiscal year. Nationwide, colleges reported, on average, a negative 0.3 percent return in their endowment in the 2011-12 fiscal year — a drop from a 19.2 percent return in the 2010-11 fiscal year, according to preliminary data released by the National Association of College and University Business Officers. The University’s modest gain in 2012 will cut a slice out of the revenues Cornell typically earns from the endowment. According to the University, payouts from the endowment represent about 11 percent of Cornell’s total annual

JEFF STEIN / SUN MANAGING EDITOR

Accident | A worker at the construction site for Gates Hall was hospitalized Thursday but alert and conscious, according to police. The worker reportedly fell four stories.

Melinda Gates Hall –– fell from one of the upper levels of the site, according to Joe Schwartz, public information officer for the University. Eckert, 43, was climbing a ladder to access a higher level of the construction site when the bottom of the ladder “kicked out” and collapsed from underneath him, according to Schwartz. Eckert then fell, landing on a concrete surface. Eckert was conscious at the scene, according to Schwartz. “Police said he was alert … and talking to them,” Schwartz said. Eckert was transported to the State University of New York Upstate

Medical Center in Syracuse, N.Y. for treatment. Schwartz did not have information about Eckert’s condition. Schwartz said that, after the accident, police closed traffic for about 30 minutes on Hoy Road, where the construction of Gates Hall –– a $60 million building for the Department of Computing and Information Sciences –– is ongoing. Construction was halted for about an hour while Eckert was removed from the scene and placed in an ambulance, Schwartz said. Kerry Close can be reached at kclose@cornellsun.com.


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