2010-02-17

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THE TUFTS DAILY

Where You Read It First Est. 1980 TUFTSDAILY.COM

WEDNESDAY, FEBRUARY 17, 2010

VOLUME LIX, NUMBER 13

Report’s findings raise questions about endowment practices BY

MICHAEL DEL MORO Daily Editorial Board

This article is the second in a two-part series examining college endowments. The first section, printed in yesterday’s paper, looked at the findings of a recent report showing huge endowment losses. Today’s article focuses on endowment investment and management practices. A National Association of College and University Business Officers (NACUBO) and Commonfund Study of Endowments (NCSE) report revealing that universities across the country had suffered major endowment losses in the 2009 fiscal year, has thrown a spotlight on the management of university endowments.

One question that has arisen is whether these losses, which averaged 18.7 percent, were the result of risky investments or simply a product of the ongoing economic recession. In an interview with Bloomberg’s Bostonbureau,UniversityPresident Lawrence Bacow claimed that the significant endowment losses at institutions like Harvard resulted from risky investment strategies. Bacow also noted in the interview that wealthier endowments tended to engage in riskier investments. According to NACUBO’s Director of Research Policy and Analysis Ken Redd, however, this past year’s widespread losses were less a product of risk and more the result of the worldwide economic crisis.

Still, Redd agreed that “some of [the institutions] are a lot riskier than others,” but emphasized the limits on universities’ possible investment strategies. “There really is no safe place to go for investors,” he said, citing treasury bonds and cash as the few arenas immune to economic troubles. Redd pointed out that the outcome could have been more severe. “[University endowments] didn’t do well but it could have been a lot worse had they not been invested the way they were,” he said. In regards to investment guidelines, the NCSE report revealed that just 178 of the 842 schools see ENDOWMENT, page 2

Massachusetts aims to ban drivers from texting BY

CORINNE SEGAL

Daily Editorial Board

The Massachusetts House of Representatives on Feb. 4 approved a bill banning text messaging while driving and requiring drivers to use hands-free cell phone devices. The bill further eliminates the use of all cell phones while driving for individuals under 18 and institutes a mandatory vision test for drivers over 75, who must renew their licenses every five years. The bill, which passed 146 to nine, must be approved in the state Senate before it is put into effect. If passed, it would add Massachusetts to the ranks of the 19 other states that already prohibit sending text messages while driving and the six states that ban drivers’ use of handheld cell phones. David Procopio, a spokesperson for the Massachusetts State Police, said that distracted drivers are often the cause of road accidents. “The state police is very concerned about all types of distracted driving,” Procopio told the Daily. “We see numerous accidents and

crashes that are caused by drivers not paying attention to the road.” Massachusetts State Rep. Carl Sciortino (LA ’00) said that while some representatives believe that giving the government control of cell phone use in the car is an encroachment upon civil liberties, the risk such usage poses to public health takes precedence. “I disagree with that argument strongly,” Sciortino (D-Medford/ Somerville) told the Daily. “When you are on a public road and you are endangering other people with your behavior, it is something that the state needs to deal with and has a responsibility to deal with.” Although he could not comment on the merits of this specific bill, Procopio said that the state police supports policies that improve public safety. “Very generally speaking, we support anything that policymakers believe will help reduce distracted driving,” he said. Sciortino said he expects the Senate to vote on the bill during this year’s session, which ends in July.

A similar bill was presented in the House two years ago but failed to pass in the Senate. Sciortino is more hopeful about the future of this bill since spokespeople for State Senate President Therese Murray (D-Plymouth/ Barnstable) have announced her support for it. “It’s looking very promising,” he said. Sciortino explained that the original version of the bill was limited to issues concerning text messaging while driving and elderly drivers. Representatives later amended the bill to ban all use of any handheld cell phones while driving. If the bill passes in the Senate, the state will institute an educational campaign to ensure that drivers are aware of the new law, which imposes a fine of $100 for a first offense, $250 for a second and $500 for all following offenses, according to Sciortino. “I think the state has a responsibility to educate people about the dangers of using a cell phone see DRIVING, page 2

MCT

First lady Michelle Obama last week launched Let’s Move, a national youth obesity prevention initative.

Local program model for national initiative BY JENNY

WHITE

Daily Editorial Board

A Somerville obesity prevention program with Tufts roots last week took the national stage as Mayor of Somerville Joseph Curtatone joined First lady Michelle Obama at the White House for the launch of a national initiative to tackle childhood obesity. The first lady on Feb. 9 held a news conference after President Barack Obama approved up to $1 billion per year over 10 years for the new initiative, Let’s Move. Let’s Move, a government program proposed and promoted by the first lady, is designed to inform Americans about obesity and to help the population, especially the youth, adopt healthier lifestyles. Both Curtatone and Christina Economos, associate professor at the Friedman School of Nutrition Science and Policy, were invited to the launch because of their joint

efforts and success at promoting consciousness about health and obesity in Somerville through Shape Up Somerville, a local initiative targeting youth obesity. Curtatone delivered remarks on behalf of Shape Up Somerville at the launch, which he called a rewarding experience. “[It was] a gratifying moment for everyone who has been involved in our project to reverse the trends of childhood obesity,” he told the Daily. Economos was unable to attend the event due to weather disruptions. Shape Up Somerville began as a Tufts program, sponsored by a Center for Disease Control (CDC) grant, according to Jaime Corliss, director of Shape Up Somerville. Corliss said that the program, which started out as a community task force, has become a see OBESITY, page 2

Plans for campus center renovations pick up steam BY

MARTHA SHANAHAN Daily Editorial Board

DILYS ONG/TUFTS DAILY

Plans are underway for a renovation of the lobby in the campus center.

Students are closer to having a new and improved campus center as plans for the potential renovation of the Mayer Campus Center lobby are progressing steadily, with drawings slated for completion in the next two months. “We are moving forward with some design work to at least develop a good, firm concept for the [lobby],” Director of Construction Management Mitch Bodnarchuk said. Facilities staff and members of the Tufts Community Union (TCU) Senate have continued to work to develop plans for the lobby area and the lounge with representatives from architecture firm Tappé

Inside this issue

Associates, Inc., which last summer designed improvements to the Rez Café, according to Bodnarchuk Senior Duncan Pickard, a trustee representative on the TCU Senate, said that improvements would include new staining on the wood panels, new carpets in the lobby and the replacement of the white vinyl coating on the columns near the main entrance to the campus center. Pickard, who on Feb. 5 secured the Board of Trustees’ approval for the project, added that a new light fixture would be installed to “add light to the mezzanine level study spaces.” He noted that the existing fixture “has not been touched since the campus center was built.” Bodnarchuk said that the light replacement would give the lobby a

“more contemporary look.” He also explained that the initial intention of building a new information booth was excluded from the eventual design plan due to excessive costs. “It was taking up one third of the cost,” he said. “That’s pretty expensive.” Bodnarchuk said that the renovations are scheduled to take place over the coming summer, depending on the availability of funds. Pickard is currently working with the Board of Trustees to find funding for the project, which, in his proposal to the Board of Trustees, he estimated would cost $150,000. This estimate, he explained was “totally speculative,” and it remains uncertain where funding for the see RENOVATIONS, page 2

Today’s Sections

New FX series “Archer” is an animated spoof on the classic spy genre.

Women’s squash finished the regular season on a high note with a win over Wellesley.

see ARTS, page 5

see SPORTS, page 15

News Features Arts & Living Captured Editorial | Letters

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Op-Ed Comics Sports Classifieds

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2010-02-17 by The Tufts Daily - Issuu