TUESDAY • MAY 19, 2015
CHICAGOMAROON.COM
THE INDEPENDENT STUDENT NEWSPAPER OF THE UNIVERSITY OF CHICAGO SINCE 1892
ISSUE 48 • VOLUME 126
Summer Breeze organizers deem carnival and concert a success TOTAL COST $270K FOR BOTH EVENTS Isaac Stein Senior News Writer
Washington Park is one of two proposed sites being considered to house the Obama Presidential Center, along with Jackson Park. In response to the recent announcement, community members are planning to organize neighborhood benefit argeements to be implemented when the center is built. MARTA BAKULA | THE CHICAGO MAROON
Community members demand benefits with arrival of Obama Presidential Library Sonia Schlesinger News Staff In response to the announcement that the Obama presidential library will come to either Washington or Jackson Park, several residents of the surrounding
communities have begun organizing community benefit agreements and legal documents that require developers to provide benefits to the neighborhoods. Residents of Washington Park will propose these agreements to President Robert Zim-
mer, the University, and the Obama Foundation. Each public park in Chicago has a volunteer advisory council that supports the park’s operations. Cecilia Butler, head of the council for Washington Park, OBAMA continued on page 2
New study shows speakers appear more intelligent than writers Anne Nazzaro Associate News Editor Hearing a person speak makes the listener view him or her as more intelligent than if they read the same words in writing, according to a study published by University of Chicago professor Nicholas Epley and Ph.D. candidate Juliana Schroeder this month in the journal Physiological Science. “A person’s voice, through speech, conveys conscious thinking as it’s happening,” said Epley, a professor of behavioral science at the Booth School of Business. “This led us to wonder whether a person’s voice actually communicates the presence of his or her mind more clearly than other…media.”
In the study, titled “The Sound of Intellect,” Epley and Schroeder tested their hypothesis through a series of elevator pitches. They had M.B.A. students give two-minute elevator pitches to their top-choice employer on why they should be hired. Evaluators either heard recordings of the pitches, watched videos, or read transcripts. Evaluators who listened to the recordings or watched the videos rated their employees to be more “competent, thoughtful, and intelligent” than evaluators who read the transcripts, according to the study. Evaluators also stated that they were more likely to hire the people whose pitches they heard than the people whose pitches they only read.
The researchers first tested this hypothesis with inexperienced evaluators and then with a group of professional job recruiters. The experienced recruiters reported the same evaluations—they were more likely to hire someone whose pitch they heard rather than read. According to Schroeder, the candidates tested in the study did not expect these results. “They think they will be judged the same, regardless of whether they are writing or talking,” she said. Schroeder and Epley have a longer paper in the works to investigate why speaking makes a better impression than writing. “I definitely plan to work on this topic for a long time,” said Schroeder. “It’s fascinating.”
On Saturday, University students and members of the public enjoyed the festivities of Summer Breeze, the annual oncampus event that combines a free public carnival with a ticketed concert. The day’s events all went off without a hitch, which was impressive given the threats of thunderstorms and the large number of inebriated students. The carnival began at noon and ran until 5 p.m., and included balloonists, cotton candy, grilled hamburgers and sausage, and a steady supply of Monster brand energ y drinks. The concert, which sold out to an excited crowd of 2,225, opened its doors at 5:00 p.m. sharp. The concert ran into the
late evening and featured a lineup of artists Madeon, T-Pain, and Azealia Banks. Given this apparently seamless presentation of many events, Breezegoers might be unaware that the event is actually coordinated by two RSOs, each of which plans its efforts independently of the other; the Council on University Programming (COUP) organizes the carnival, while the Major Activities Board (MAB) organizes the concert. However, this division of labor also means that the events are funded independently, and there is not necessarily a close working relationship between the two groups. Fourth-year Natalya Samee, the chair of MAB, said that while she would like to work more closely with COUP, this is made
difficult by the separate purpose of both organizations. “COUP’s events…are broader in scope than MAB’s, which specifically focus on bringing premium acts in music and comedy to campus. MAB would love to collaborate with COUP if either of us came up with an interesting, thoughtful way to do so. But it’s apples and oranges—the focuses of our work are very different, so such opportunities have not arisen,” Samee said. Cuyler Lam, the COUP entertainment c hair, also said that COUP and MAB did not work closely on programming for Summer Breeze. “At Summer Breeze, [COUP and MAB] shared a set of Allied Barton security officers that BREEZE continued on page 2
University bonds rated low-risk by Moody’s Investors Service Katherine Vega News Staff Moody’s Investors Services, a global credit rating company, has reaffirmed the University’s credit rating on $2.3 billion of bonds as Aa2, indicating that its bonds are relatively lowrisk. Moody’s also rated the University’s $683 million of debt as VMIG 1, indicating superior credit quality. According to Moody’s, the University’s credit rating outlook is “stable,” indicating that there is likely to be no change in rating in the near future. The report, released May 15, explained the credit rating by noting that “the University of Chicago’s Aa2 rating reflects its global prominence as an elite research university, notable strengthening of undergraduate demand, demonstrated fundraising prowess
for strategic initiatives, and good unrestricted liquidity.” In analyzing the University’s credit rating , the Moody’s report also noted that “the stable outlook reflects expected strong gift revenue that will ultimately grow balance sheet resources, stable liquidity, and thin consolidated cash flow with rising university and medical center debt service,” according to its website. The Aa rating indicates that the University’s financial obligations are at the second-lowest level of risk out of nine possible levels, with the lowest-risk level denoted by Aaa and the highest-risk level denoted by C. The 2, assigned on a scale from 1 to 3, denotes that the rating is in the middle of Aa-rated organizations. Moody’s downgraded the
Unive rsity’s credit rating one sub-level from Aa1 to Aa2 this past summer. This downgrading came in response to the University’s high level of debt and expectations for minimal cash flow in the near future, although the University affirmed that its strategic plan included an increase in debts. The reaffirmation of the Aa2 credit rating did not take debt from the University of Chicago Medical Center (UCMC) into account, although Moody’s report noted that “adverse changes” in UCMC programming in the future might make the credit rating go down. The UCMC’s Aa3 rating was reaffirmed in late December, although Moody’s had previously threatened to downgrade it, citing the UCMC’s operating cash flow margin.
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