T H E O L D E ST C O L L E G E DA I LY · FO U N D E D 1 8 7 8
NEW HAVEN, CONNECTICUT · THURSDAY, NOVEMBER 29, 2012 · VOL. CXXXV, NO. 59 · yaledailynews.com
INSIDE THE NEWS
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The saga continues. Students
in professor A. Douglas Stone’s PHYS 420 course were treated to a familiar surprise yesterday when they walked in to find a series of chalk images related to Nintendo 64 characters drawn on the board. The first panel read “Your princess is in another castle,” a nod to an identical chalk message that appeared in class last August, while the second panel featured a tableau of Koopas titled “Grand Koopanonical Ensemble,” a reference to physics material covered in the course. The third seemed to picture Contour Dude, a character from “Super Mario Brothers.” Science rocks.
Sending a message. Believe in People, New Haven’s famous underground graffiti artist, has struck again, this time commenting on Yale-NUS by painting two orange signs in Yale’s steam tunnels. Both signs read “Under Construction: YaleN.U.S.T.,” though each sign has an additional message: the first says “Going Lower Than Ever Before” while the other says “Freedom of Speech Guaranteed.” Success on the field. Yale
running back Tyler Varga ’15 has been awarded first team All-New England honors. Varga ended the season with 935 yards for the Bulldogs.
THIS DAY IN YALE HISTORY
1961 The Admissions Office announces that it will notify applicants of admission decisions by late April. Submit tips to Cross Campus
crosscampus@yaledailynews.com
ONLINE y MORE cc.yaledailynews.com
PAGE 3 CULTURE
PAGE 5 CITY
PAGE 6 SCIENCE & TECHNOLOGY
PAGE 12 SPORTS
Alternatives promote ‘arms race’ GRAPH DECLINING ALLOCATION TO U.S. PUBLIC EQUITIES 80
HARVARD PRINCETON YALE
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SEE ARMS RACE PAGE 8
SEE LEVIN PROJECTS PAGE 8
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BY SOPHIE GOULD STAFF REPORTER As University Chief Investment Officer David Swensen’s investment model began to yield unprecedented endowment returns in the
1990s, more and more universities adopted the Yale model by shifting toward investing in alternative assets. Two professors at the School of Management are now arguing that this trend reflects universities’ tendencies to mimic their clos-
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REPORT CONSIDERS THE INFLUENCE OF THE YALE MODEL IN INVESTMENT OF HIGHER EDUCATION ENDOWMENTS
BY JULIA ZORTHIAN STAFF REPORTER
est competitors, but their report also raises questions over where the “herd” will move next — and who will lead it. Sharon Oster and William Goetzmann presented a paper, entitled “Competition Among University Endowments,” at a National Bureau of Economic Research con-
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Salovey, Levin share decisions Before Nov. 8, 2012, there was no need for distinction when referring to the only Yale president on campus. But since the Yale Corporation announced that Provost Peter Salovey will assume University President Richard Levin’s position on June 30, 2013, the Yale community can now look to two leaders — a fact made clear when Salovey sent a Nov. 16 email to students from the email address president.elect@yale.edu. While it is rare to have both an incoming and outgoing Yale president on campus at once, Levin said he will retain most of his responsibilities as president until Salovey officially takes the helm of the University on June 30. One new responsibility Salovey will take on in the coming months will be overseeing personnel decisions, including the appointment of a new provost. “We’ve been a team for the last four years,” Levin said. “[There are] many major decisions for the University I’ve been consulting the provost on regularly. In that respect, nothing’s different.” Salovey was appointed Yale’s secondhighest administrator in 2008, and Levin said he has involved Salovey in most major University decisions he has made during his recent tenure. While there are no searches for deans or other major administrators currently under way, Salovey is in charge of selecting his replacement provost. In addition to his provostial responsibilities, Salovey said he has begun to meet extensively with many
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does. The Yale football player and teenage heartthrob was eliminated from the popular NBC singing show “The Voice” last night, much to the dismay of his thousands of fans and coach Christina Aguilera. But it’s okay. Duron still has more than 60,000 fans on Facebook, 11,000 followers on Twitter and hundreds of marriage proposals.
Undefeated Bulldogs head to the NCAA tournament
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Do you sing? Dez Duron ’14
BELTER GRD ’15 PIONEERS TURBINE DATA COLLECTION
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Precision Marching Band and the Yale Russian Chorus joined forces yesterday to prank professor John Gaddis during his “Cold War” class. One student dressed as President Ronald Reagan delivered Reagan’s famous speech at Brandenburg Gate, while another dressed as Mikhail Gorbachev gave a grandiose speech in Russian. When a U.S. Air Force pilot impersonator shouted for an air drop, silver packets of Alpha Delta Pizza chips rained down to feed the hungry masses below.
Catholics criticize Knights of Columbus for marriage spending
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Professor Gaddis, tear down this wall! The Pundits, the Yale
VOLLEYBALL
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record-breaking delegation of seven Rhodes scholars will be joined by one more student: Ela Naegele ’13, a German international student who was won an international Rhodes scholarship from Germany. Naegele hopes to study modern British and European history with a focus on international law at Oxford.
KENYA
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Suck it, Harvard. Yale’s
KNIGHTS
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CROSS CAMPUS
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SUNNY CLEAR
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MORNING EVENING
YALE CABARET EXPERIMENTING WITH ‘CAT CLUB’
Education funds’ Gov. unveils budget cuts increase unlikely BY CHRISTOPHER PEAK STAFF REPORTER While activists in Connecticut push for an increase in education funding from the state government, a projected state budget deficit stands to thwart their efforts. As Gov. Dannel Malloy prepares next year’s budget address to the General Assembly, interest groups across the state, including Connecticut Conference of Municipalities and Connecticut Coalition for Justice in Education Funding, are asking for an increase to the state’s education budget. The state currently distributes the majority of education funds to local governments through the Education Cost Sharing (ECS) grant, a program that has rarely been fully funded. With a $365 million deficit confirmed earlier this month and $170 million in spending cuts announced by Malloy Wednesday, ECS may remain underfunded through another budget cycle. “We would like to see an increase, a significant increase, in ECS funding, but we recognize that it will be exceedingly difficult … to close our current budget gap,” Dianne Kaplan deVries, the project director for Connecticut Coalition for Justice in Education Funding, said in a Wednesday email to the News. “Current fiscal constraints, however, are no excuse for not fixing properly the state’s broken ECS formula and the entire system of how it funds traditional public schools, choice programs, [and]
early childhood programs.” The ECS grant was created in 1988 to equalize education funding across the state by providing aid to each student, giving more to towns with lower per capita income and less revenue from property taxes. Connecticut has the nation’s largest achievement gap between high-income and low-income students.
Current fiscal constraints … are no excuse for not fixing properly the state’s broken ECS formula. DIANNE KAPLAN DEVRIES Project director, Connecticut Coalition for Justice in Education Funding But the program’s funding has repeatedly been frozen or cut due to financial downturns. Funding is currently pegged at fiscal year 2009 levels, and barring an increase in the next budget, it will continue at that level through the end of fiscal year 2013. In the last fiscal year, legislators budgeted $1.89 billion for the ECS grant, only 72 percent of the target aid. The funding gap totaled over $700 million. DeVries said the effects of underfunding include “unconscionable achievement gaps SEE EDUCATION PAGE 4
SAGAR SETRU/STAFF PHOTOGRAPHER
Due to a $365 million budget deficit, Gov. Dannel Malloy has announced funding cuts to many state agencies. BY MICHELLE HACKMAN STAFF REPORTER Facing a mounting budget deficit this fiscal year, Gov. Dannel Malloy announced $170 million in cuts across a wide gamut of state agencies on Wednesday. Earlier this month, Office of Policy and Management Sec-
retary Ben Barnes certified a budget deficit of $365 million for fiscal year 2012. By law, the governor must draft a deficit mitigation plan whenever the state’s projected deficit tops 1 percent of the total $19.1 billion budget. The cuts he proposed fall within the governor’s authority to slash up to 5 percent of any budget line item
without the need to seek legislative approval. “Many of these cuts are very difficult to make, especially now when so many residents continue to struggle in a tough economy,” Barnes said in a press conference Wednesday afternoon. “But as painful as SEE DEFICIT PAGE 4