Volume 92 Issue 22

Page 1

A LOOK AT LGBTQ RIGHTS AT FORDHAM- PAGE 10

MEN’S BASKETBALL BEATS LEHIGH 74-67 - PAGE 24

SERVING THE FORDHAM UNIVERSITY COMMUNITY FOR OVER 90 YEARS

1918-2010

DECEMBER 8, 2010

VOLUME 92, ISSUE 22

GSB Namesake Mario Gabelli Addresses Students By VIKRAM BHATIA STAFF WRITER

Mario Gabelli gave a presentation in the Keating Hall 1st floor auditorium on Dec. 1, offering students an opportunity to listen to the wisdom of the man who donated $25 million to their school. The donation, the largest in University history, was made in September as part of Excelsior | Ever Upward | The Campaign for Fordham. It prompted the College of Business Administration to change its name to the Gabelli School of Business. The event was significant because Gabelli, the CEO of GAMCO Investors and a member of the 1965 business school graduating class, was unable to attend the celebration that took place in honor of his donation on Homecoming Saturday in early October. He said that it was “a distinct privilege for me to be here.” The presentation was mainly on the subject of the outlook for the global economy, but there was humor and inspiration mixed in throughout. He first expounded upon the idea that “sunshine follows darkness,” referring to the opportunities that young people have after the financial crisis. He said that all crises present people with “danger and opportunity” and that the key is to take advan-

tage of that opportunity. “When things look bleak, there is great opportunity,” he said. Gabelli stressed that his company was all about emphasizing value, a product of his faith in value investing. This faith comes from his studies at the Columbia Business School, where he learned about the investing philosophy of David Dodd and Benjamin Graham. Value investing emphasizes the importance of investing in companies that have a low market value, but a high level of cash flow. He said that since GAMCO’S inception in 1977, the company has been research-driven, and has focused on absolute returns. He also mentioned the contribution to the financial world that he may be most famous for, which is his idea of private market value. PMV says that the value of a publicly traded company is equal to the amount of money that an individual investor would pay for it in the case that it was not a public company. He recommended that private investors “look for a catalyst” when they employ the private market value theory as they begin their investment process. He provided examples of catalysts from history. “Tiananmen Square in 1989 changed the world,” he said. “It really signaled that Adam Smith and SEE GABELLI ON PAGE 3

PHOTO BY SIMON SULIT/ THE RAM

Speaking in Keating Hall on Wed., Dec. 1, Mario Gabelli, CBA ’65, championed entrepreneurship, creativity and good citizenry to Fordham University students in attendance at his lecture.

USG Passes Bill of Rights to Mandate Open Meetings By VICTORIA RAU ASSISTANT NEWS EDITOR

All United Student Government meetings and USG committee meetings, including Budget Committee, will be open to the public in accordance with Article III of the Bill of Rights, a USG resolution passed unanimously on Dec. 2. The bill, composed of eight articles, explicitly defines student rights with regard to transparent access to USG and USG committee records; equal opportunity for creating clubs and seeking club funding; the ability to petition USG and the option to attend USG Budget, House, Operations and senate meetings. Donald Borenstein, president of FCRH ’13, authored this piece of legislation, which he said he hopes will encourage student activism and increase clarity and accountability between students and USG. “Hopefully, this bill will immediately help serve to improve USG’s role as a conduit between the students as administration, and further improve our role as active representatives of student rights and interests,” Borenstein said, adding that it was USG’s Maroon Square initiative that initially inspired him to focus on student rights as a firstyear senator. Although a majority of the committee chairs already hold open meetings and most of the other liberties that the bill stipulates are

already in practice by the current administration, the bill will ensure that future student governments abide by these same standards. “This Bill of Rights largely exists to make sure we, as a USG and as a student body, don’t take a step backwards from where we are today,” Borenstein said. “We want to make sure that, 10 years or 20 down the road, the Fordham University United Student Government will be there to actively work to protect student interests to at least the same degree we are today.” Easily the most contentious section of the bill is Article III, which requires open meetings for USG Budget, House, Operations and senate meetings. Of these, Budget Committee is the only one that does not currently operate with fully open meetings, the only committee for which change is in store. Presently, the first part of Budget meetings are open to the public, while the second part, during which members vote on appeals, is a closed session. Maintaining a preference for keeping the voting portion of the meeting closed, Emily Amato, FCRH ’12, vice president of finance, voted in favor of the Bill of Rights, despite Article III’s mandate for completely open meetings, which will not take effect until April 15, 2011 by which time a new committee will begin their term. “Logistically, and due to the na-

Audit Senate Briefing DiTanna announced that, in the interest of time, the audit of the Student Activities Fund that his task force is conducting will not take on auxiliary auditors in its next stage as originally planned. Rather, club leaders are invited to the USG meeting on Dec. 8 to share their input on the audit’s findings in a public forum. A decline in Budget Committee oversight on referendum club allo-

cations, inefficiency in terms of accounting and regulation mechanics, general communication issues and a developing “free for all” culture composed the major themes of the task force’s findings thus far. “We believe referendum clubs need a detailed financial accounting system behind them,” DiTanna said, citing the need to justify referendum allocations, which have become seemingly arbitrary. Inefficient accounting, DiTanna explained, leads to a system where funds are paralyzed because clubs’ surpluses, resulting from an event costing less than expected, are not credited to the pot from which the committee draws allocations. An overarching issue that the task force will try to address in its suggestions to the committee is the culture that has resulted from a lack of appropriate oversight. “It’s ‘grab it while you can get it because otherwise it will be gone,’” DiTanna said in description of the culture, acknowledging that the current practices and structure of the committee facilitate this attitude.

Sports PAGE 22

Opinions PAGE 7

Culture PAGE 13

Women’s basketball wins 77-55 over St. Peter’s.

Point Counterpoint: Should we build Moynihan Station?

Interview with “Weeds” and “30 Rock” actor Maulik Pancholy.

ture of the committee’s discussions, closed meetings are the most efficient and effective, particularly with the clear notification forms implemented this year and the availability of decisions to all on the USG Web site,” Amato said. “For the purposes of objectivity and the most effective interpretation of Handbook policies that govern the committee, many of the committee members and I believe that closed meetings for discussion and voting are the best.” Amato acknowledged that the beginning of a new term marks a good starting point for the transition to open meetings, especially because findings by the budget task force’s audit, which Amato is co-chairing with Michael DiTanna, FCRH ’13, vice president of information technology, may prompt additional adjustments to the committee’s structure and function. Borenstein called the Bill of Rights “a huge victory for student rights on this campus” and lauded the strides Executive President Sara Kugel, FCRH ’11, and Execu-

tive Vice President Caitlin Meyer, FCRH ’12, have already made toward transparency during their administration. He cited their efforts as motivational and supportive for this bill, which he has been working on since April. “The main function of this bill of rights is basically to inform and embolden the student body in regards to what USG can do for us, both on the individual level and on the whole,” Borenstein said. “It really focuses on what USG can do for students more than anything else, and I feel that’s absolutely critical.”

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