March 1, 2010 issue

Page 1

The Chronicle T h e i n d e p e n d e n t d a i ly at D u k e U n i v e r s i t y

MONDAY, MARCH 1, 2010

ONE HUNDRED AND FIFTH YEAR, Issue 105

www.dukechronicle.com

Reception honors chaplain Antepli Trustees Muslim imam will lead opening prayer for U.S. House Wednesday approve K4, tuition hikes Undergrad fees rise above $50K with 3.9% increase by Emmeline Zhao THE CHRONICLE

A group of financial industry leaders gathered at the Fuqua School of Business Saturday to dissect the global economic crisis. Following an introduction by Douglas Breeden, former dean of Fuqua and William W. Priest professor of finance, the panel of seven experts discussed the financial health of the American and global economies. Among the panelists were Board of Trustees members Alan Schwartz, Trinity ’72, David Rubenstein, Trinity ’70 and Bruce Karsh, Trinity ’77, each of whom has been at the helm of a major financial institution. Anthony Santomero, a senior adviser from McKinsey & Company, moderated the discussion. The event attracted a crowd of more than 400, which gathered in the Geneen Auditorium at Fuqua Saturday afternoon. The discussion, “The Future of Lending, Credit and Leverage,” was the second in the school’s four-part series, titled “The Future of Capitalism.” Panel members discussed the causes and implications of the financial crisis. Some members of the panel took issue with using the growth rate of a country’s gross domestic product as a means

During its weekend meeting, the Board of Trustees approved the construction of a new dorm, discussed the University’s financial state and raised the total cost of a Duke undergraduate education past the $50,000 mark for next year. The Board approved a 3.9 percent increase in tuition, room and board for undergraduates, bumping the total cost of attending Duke up to $51,865 from $49,895. The new price includes a 4 percent increase in tuition to $38,985, which is $1,500 more than the current academic year. It also ties in a Richard Brodhead 5.2 percent increase for all dining plans, but whether that amount will be added as a fee or as additional food points is yet to be determined, said DSG President Awa Nur, a senior. Nur sits on the Board’s Business and Finance Committee. “We’re not trying to close the budget deficit on the back of our students,” President Richard Brodhead said. “There are things here that enrich the students, and that investment is reflected in the increase, but we also try to keep it as low as we can.” Tuition increased by 3.9 percent last year and by 5 percent in 2008. Duke’s tuition hike comes at a time when peer institutions are raising their prices as well. The University of North Carolina’s Board of Governors signed off on a 5.2 percent increase in undergraduate tuition Feb. 12, pending legislative approval. Yale University announced a 4.8 percent tuition increase Feb. 23, Stanford University has approved a 3.5 percent increase and Brown University will see a 4.9 percent jump. Financial aid will not expand this year, but officials emphasized the University’s commitment to need-blind admissions. Board Chair and Democratic state Sen. Dan Blue, Law ’73, said that between 30 and 40 percent of the tuition increase will go toward funding financial aid. University officials are also working to balance increases in revenue from tuition with budget cuts by the Duke Administrative Reform Team, Provost Peter Lange said. Duke has consistently stayed below the median in tuition hikes among its peer institutions, Lange added.

See economy on page 16

See Trustees on page 16

michael naclerio/The Chronicle

Muslim chaplain Abdullah Antepli (center) talks to community members at a reception Friday in the Divinity School. The reception honored Antepli, who will deliver the opening prayer for the U.S. House of Representatives in Washington, D.C. this Wednesday. by Sanette Tanaka THE CHRONICLE

Duke’s Muslim chaplain Abdullah Antepli will give the opening prayer for the U.S. House of Representatives in Washington, D.C., this Wednesday at 10 a.m. The prayer is sponsored by Rep. David Price, D-N.C. An intimate reception was held Friday in the Divinity School to honor Antepli. “This invitation is not just to me, but to Duke University in appreciation of its success in understanding diversity and looking toward the future and not the past,” Antepli said. “I am so humbled to be part of this.”

Vice President for Student Affairs Larry Moneta called the invitation a “booster shot” for Duke’s ongoing mission of building a sense of understanding and community among Muslim students. “Although never intentional or mean-spirited, estrangement, alienation and intimidation can happen on campus, but the appearance of a Muslim imam in Congress will lift the heavy burdens in the hearts and minds of Muslims,” Antepli said. “We know that we are heard, respected, appreciated and acknowledged.” The practice of opening the House in prayer began in 1774 See antepli on page 4

Panel wary of debt burden in recovery by Taylor Doherty THE CHRONICLE

melissa yeo/The Chronicle

As a part of “The Future of Capitalism” series in Fuqua Saturday, a panel of financial industry leaders discuss the causes and impacts of the financial crisis.

ONTHERECORD

“It’s always special to capture championships—that’s what it’s all about.”

­—Head coach Joanne P. McCallie on her first ACC title. See story page 6

Rewarding the healthy Students were granted awards for weight loss and other healthy lifestyles, PAGE 3

Blue Devils crush Cavaliers, Page 8


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