THE
PAGE 16
Maroon
FRIDAY, MAY 3, 2013
Hide ya locks, hide ya bikes
ERIC KNOEPFLER/The Maroon
As of May 20, all bicycles on university bicycles racks are in violation of the Parking Regulations Brochure. Students enrolled for summer 2013 semester were asked to contact Loyola University Police Department before May 20. Therefore, all bicycles that remained chained to bicycle racks are considered deserted at this time. These bicycles and bicycle locks will be taken down, stored and auctioned off in the future at the owner’s expense.
MONEY: Endowment numbers fall in 2012 Continued from page 1 is invested and not kept in savings, its financial health is greatly affected by the overall state of U.S. economy. “It can be noted that over the years, the endowment market value has fluctuated substantially,” Michael Hubbard, portfolio coordinator for the office of financial affairs, said. “In 2008, the markets took a serious decline which effected everyone investing, including the Loyola Endowment. Fortunately, the endowment did not take as hard a hit as many other endowments, but there was a market value decline that would need to be recovered from moving forward.” Though Hubbard said that the market is improving, it may not be evident when looking at the endowment figures for the 2011 and 2012 academic years. “You will note a slight market value loss between 2011 and 2012,” Hubbard said. “This shows that even as the markets have been slowly recovering, there are periods where the market volatility causes a loss.” This corresponds with an increase of about 8 percent in the endowment at the end of Loyola’s fiscal year. 2008 was a rough year financially for both the stock market and the university. Loyola saw a 22 percent decrease in its endowment. The endowment breaks down into two categories: the restricted and unrestricted. The restricted endowment is funds that are earmarked for a specific purpose. The restricted endowment is often used for scholarships, professorships, chairmanships and similar interests. “The Unrestricted Endowment
is used to support the Current Operating Budget of the University,” said Jay Calamia, vice president of finance and administration. “We use a three year average of the last three years of the Unrestricted Market Values of the Endowment and take 5 percent of the Average Market Value to determine the amount that is used to support our budget.” Calamia went onto say that when there is a decrease in the amount of money available in the unrestricted endowment, the university will have to forgo certain things they would have supported if they had the money available. If the restricted endowment continues to perform well as the economy recovers, it could have an effect on tuition rates. Since the university may not be able to afford the costs of operation with just the funding from the operating budget, tuition prices could rise. Loyola raised tuition 4.9 percent when it adjusted its budget for the 2013-2014 academic year. This was in large part due to lower than expected enrollment and retention numbers, but performance of the endowment in the markets this past year also factored into Loyola’s decision to raise rates. Loyola will have a lot to consider when looking at the best possible way to ensure the health of the endowment but in the report they prepared for the board meeting, financial affairs said they have a plan in place. Hasani Grayson can be reached at hkgrayso@loyno.edu
Leaders: Mission drives group success Continued from page 3 in terms of their contribution through student fees,” Roundtree said. “Everything from the bike racks to the hydration stations to let the student body know what is it are we contributing to, what is it are we doing.” Daniel Maxwell, American Student Government Association expert, said he does not believe SGA’s purpose is to purchase food or to plan events. “The purpose of the student government is to provide a voice for the students and to create
a kind of shared government with the university,” Maxwell said. “The student government should be concerned with hosting and publicizing multiple public for a that allow students to be heard. Even if every student doesn’t know who they are, most of them should. They’re responsible for the students, for keeping the students informed.” Goolsby raises the question about what the purpose of the university is. “What is the purpose of the university? To have great hot dogs over in the Danna Center, is that the purpose of the university?
No, the purpose of the university is for you to leave here a lot different than when you came in. That never came up,” Goolsby said. Goolsby said that he did not know much about Loyola’s SGA; however, he said that he does not believe this is an isolated problem. “But my sense of it is that it is a symptom of a much larger problem,” Goolsby said. Lucy Dieckhaus can be reached at ljdieckh@loyno.edu Emily Andras contributed to this report.
EXAMS: Passage rates are at 40 percent Continued from page 3 that are covered,” Wallace said. Owens explains how a bar review course was helpful to him. “It showed you what the exams look like, you get to see the patterns in the test questions, and you get to become a smart test taker,” Owens said. The previous bar exam was administered in February of this year. According to the Louisiana Supreme Court bar exam results, the statewide passage rate was at a low with only 40 percent. Professor Wallace does not think that is has anything to do with the students. “It’s very distressing to me to see the committee on bar examiners create an examine that has a state wide passage that is below 50 percent when our passage rate ten year ago was 70 and 80 percent. No one will convince me that the students are less smart now,” Wallace said.
Law students not only have to prepare for passing the bar exam, but they also have to prepare for their careers after it. Howard Murphy, counselor at law of Deutsch, Kerrigan & Stiles law firm shares what he looks for in hiring a law school graduate. “When I engage in hiring, I focus on three attributes — intelligence, the ability to reason, and the ability to effectively communicate, both verbally and in writing,” Murphy said. “Professional experience in an area other than the law also can have great value. “The graduate must be personable and demonstrate the ability to be convincing in conversation as well as in the composition of legal memoranda and briefs,” Murphy said. The next Louisiana bar exam will be administered on July 22. As the date approaches, Professor Wallace advises students to dedicate their time to as much preparation as possible. “I would say to treat
it like a marathon and keep a pace,” Wallace said. “My biggest advice is to treat it like a job. Give up those two and half months of your life and give it up to studying,” Wallace said. “You do it once and don’t have to do it again. It’s worth it to put some things on hold.” William Duponte, Chief Judge of the 18th Judicial District Court and Loyola alumnae, has similar advice. “Suck it up and put your time in it,” Duponte said. “In the scheme of things just put your whole mind, body and soul into it because that’s what is necessary in law school. You just have to drop everything else and get through it and if you do that, it’s easy,” Duponte said. Alicia Serrano can be reached at amserran@loyno.edu