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Finance leader shares lessons learned
$4.5M returned to state will be spent on Capitol KU gives back money after going under budget on pharmacy building By Scott Rothschild srothschild@ljworld.com
Mike Yoder/Journal-World Photos
AFTER BEING PRESENTED A SIGNED 2010-2011 KU MEN’S BASKETBALL, DAVID BOOTH, chairman and CEO of Dimensional Fund Advisors, watches a performance by Kennedy School pre-kindergarten students, pictured below, at the Lawrence Schools Foundation Community Education Breakfast on Friday at the Holiday Inn Lawrence. Booth, a 1964 Lawrence High School graduate and owner of the original rules of basketball, was keynote speaker at the event.
Booth thanks LHS teacher at fundraiser By Mark Fagan mfagan@ljworld.com
When the day comes that James Naismith’s original typewritten rules of “Basket Ball” find their home at Kansas University, transforming Allen Fieldhouse into a year-round attraction and boosting its stature as a recruiting tool both for basketball players and students and employees, folks just may want to thank Margaret McReynolds. That would be Mrs. McReynolds, David Booth’s calculus teacher at Lawrence High School. Booth, a 1964 LHS gradu-
ate, entertained more than 550 attendees at Friday’s Community Education Breakfast at Holiday Inn
be displayed at KU; how he founded a financial firm that today has more than $200 billion under management; and how his name now graces the University of Chicago Booth School of Business, which he dubbed “the No. 1-rated business school in this or any other galaxy.” But without Mrs. McReynolds, he suggested, such things might never have happened. Booth said “nobody had a bigger impact” than her Lawrence, 200 McDon- because back in 1964 he’d ald Drive, by sharing tales found himself humiliated of how he purchased the Please see BOOTH, page 2A rules for $4.33 million, to
‘Challenge’ ahead for basketball rules at KU By Mark Fagan mfagan@ljworld.com
David Booth can do the math: 13 rules + two sheets of paper + one signature = one heck of a tourist attraction. Booth, a trustee for the Kansas University Endowment Association and chairman and co-CEO of Dimensional Fund Advisors, said Friday that he was looking forward to turning over James Naismith’s “Original Rules of Basket Ball” to his alma mater, where they are envisioned as the focal point for a likely expansion of the Booth
Family Hall of Athletics. With the community’s help, of course. “We’ve put it in the form as a challenge,” said Booth, speaking during the Community Education Breakfast, which drew 550 people Friday to support the Lawrence Schools Foundation. “As soon as KU gets a way of housing them appropriately, we’ll give them the rules. They’ve got some exciting (ideas) ... and hopefully all of you will be able to participate in the fundraising efforts for that. “It will really be a great destination point, based on the things they’re thinking
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Today’s forecast, page 8A
Please see RULES, page 2A
Mike Yoder/Journal-World Photo
A PHOTO CARD of James Naismith was on display at tables at the Lawrence Schools Foundation Community Education Breakfast on Friday at Holiday Inn Lawrence.
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about, which will partly convert Allen Fieldhouse more into a year-round venue, which I think is very exciting.” Plans remain in the works for accommodating rules, which Booth purchased at auction in December for $4.33 million. Various options are being considered, including remodeling or expansion of the Booth Family Hall of Athletics, which Booth and fellow family members helped establish with a donation of $9 million. The rules also could go into a stand-alone building.
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TOPEKA — Kansas University on Friday gave back $4.5 million to the state government, which immediately applied it to the Capitol restoration project. The State Finance Council, led by Gov. Sam Brownback, approved the transfer. Brownback quipped that KU’s only requirement was that “we paint the Indian (statue) on top of the Capitol red and blue.” The money came from bond proceeds for the recently completed KU pharmacy building on West Campus. The pharmacy building was completed $4.5 million under budget because of lower-than-expected construction costs caused by the recession, officials said. Rebecca Floyd, executive vice president of the Kansas Development Finance Authority, said the transfer of $4.5 million will reduce a bond issue for the Capitol restoration project by the same amount. “This will result in significant economic savings to the state of Kansas and
Journal-World File Photo
THE DOME at the Kansas Capitol in Topeka is pictured from the inside in 2007. Kansas University on Friday gave back $4.5 million to the state government, which immediately applied it to the Capitol restoration project. taxpayers,” she said. The long-running restoration of the Statehouse is currently projected to cost about $285 million. Legislative veterans on the Finance Council congratulated KU on finishing the pharmacy building under budget. “This doesn’t happen very often,” said Senate President Steve Morris, R-Hugoton. — Statehouse reporter Scott Rothschild can be reached at 785-423-0668.
2 million ordered to leave as Irene takes aim By Jennifer Peltz and Michael Biesecker Associated Press
MOREHEAD CITY, N.C. — Whipping up trouble before ever reaching land, Hurricane Irene zeroed in Friday for a catastrophic run up the Eastern Seaboard. More than 2 million people were told to move to safer places, and New York City ordered the nation’s biggest subway system shut down for the first time because of a natural disaster. As the storm’s outermost bands of wind and rain began to lash the Outer Banks of North Carolina, authorities in points farther north begged people to get out of harm’s way. The hurricane was still packing 100 mph winds late Friday, and officials in the Northeast, not used to tropical weather, feared it could wreak devastation. “Don’t wait. Don’t delay,” said President Barack Obama, who decided to cut short his summer vacation by a day and return to Washington. “I cannot stress this highly enough: If you are in the projected path of this hurricane, you have to
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Don’t wait. Don’t delay. I cannot stress this highly enough: If you are in the projected path of this hurricane, you have to take precautions now.” — President Barack Obama take precautions now.” Senior hurricane specialist Richard Pasch of the National Hurricane Center said there were signs that the hurricane may have weakened slightly, but strong winds continued to extend 90 miles from its center. The moment today when the eye of the hurricane crosses land “is not as important as just being in that big swath,” Pasch said. “And unfortunately, it’s a big target.” Hurricane warnings were issued from North Carolina to New York, and watches were posted farther north, on Please see IRENE, page 2A ! More on Hurricane Irene.
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COMING SUNDAY We check in with Kansas’ athletic director as fall sports get under way.
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