NEW HAVEN, CONNECTICUT · TUESDAY, DECEMBER 1, 2015 · VOL. CXXXVIII, NO. 56 · yaledailynews.com
INSIDE THE NEWS MORNING EVENING
RAIN SHOWERS
44 42
CROSS CAMPUS
WHAT THE FRACK STUDY EXPLORES DRILLING
ALL RHODES LEAD TO OH CANADA Four seniors win prestigious Rhodes, Marshall scholarships
U.S., CANADA AMBASSADORS TALK RELATIONS
PAGES 10-11 SCI-TECH
PAGE 3 UNIVERSITY
PAGE 5 UNIVERSITY
Yale looks to lead in cultural resources
and the Senate. Thirteen of the 14 female senators joined presidential candidate Hillary Clinton LAW ’73 at a pep rally in D.C. last night to affirm their support for the 2016 hopeful. The only absent female senator was Massachusetts Sen. Elizabeth Warren. Although she signed a letter encouraging Clinton to run in 2013, Warren has not publicly endorsed Clinton’s bid.
to The Huffington Post, a Houston voter received a special message from Republican presidential candidate Ben Carson ’73 over Thanksgiving. The mailing consisted of a large lithograph portrait of Carson, a personalized message and a fundraising appeal with a prepaid envelope to send a donation.
Time traveler. Hulu recently
revealed a teaser for an eightpart series titled “11.22.63” starring James Franco GRD ’16 as an English teacher who uses time travel to attempt to prevent former President John F. Kennedy’s assassination. The first episode of the series comes on Feb. 15.
Thinking critically. Timothy Dwight Master Mary Lui will host a master’s tea with Alice Wells, U.S. ambassador to Jordan, at 4:30 p.m. today. The conversation, titled “Defeating ISIL: The Challenge of U.S. Diplomacy” will consider ISIL through the lens of U.S.– Jordan relations. Twenty-something sitting on $25 bill. The Yale Investments
Office will host an information session for their 2016 summer internship program at Mory’s at 7:30 this evening. Chief Investment Officer David Swensen GRD ’80 and Senior Director Dean Takahashi ’80 SOM ’83 will both be present to speak with interested students.
Foxes on Cross Campus.
Student representatives for Firefox will host a study break at noon on Cross Campus today featuring hot chocolate, coffee, cookies and free Firefox gear. The event aims to educate students about new Firefox products.
THIS DAY IN YALE HISTORY
1965 Several faculty members prepare a report recommending a major overhaul of the Yale College curriculum. The central recommendation is the expansion of interdepartmental offerings.
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PAGE 12 SPORTS
BY JIAHUI HU STAFF REPORTER
and Counseling expected to schedule hours at each cultural house, the centers will also be able to provide mental health resources specific to students of color, a provision called for by many student activists. When Yale is compared to some of its peer institutions, just the existence of these centers is noteworthy. According to Dean of Student Engagement Burgwell Howard, Yale is among a small group of colleges nationwide that have designated
New Haven residents are calling for tighter regulations on Yale’s longstanding development plans because of the negative impact they may have on the parking space shortage in the city. But the University contends that a new parking proposal will stifle New Haven’s economic growth. The University currently enjoys significant autonomy from the Board of Alders when determining the quantity and location of parking spaces on University property. This is a result of the Overall Parking Plan — a towngown agreement established in 1998 stipulating that Yale can determine where and how many parking spaces are built on University property. But three alders — Furlow and Hill Alder Dolores Colon, Westville Alder Adam Marchand and West River Alder Tyisha Walker — are organizing to change the current regulations. Responding to community concerns over parking scarcity, these alders have proposed an amendment to the city’s parking regulations that would subject Yale’s future construction plans to pre-approval by the Board of Alders. According to Marchand and Colon, the Overall Parking Plan affords Yale too much leeway regarding the whereabouts of city parking spaces. “The city created a legal framework that has allowed Yale to have an overall parking plan that took into account owned lots or leased spaces elsewhere in the city, not necessarily adjacent places,” Marchand, who created the proposal, said. Yale, Marchand said, has not built parking spaces near commercial and residential loca-
SEE CENTERS PAGE 6
SEE PARKING PAGE 6
Stand with PP. Gov. Dannel
Look at me now. According
Darius Manora ’17 named captain for next year’s football team
Elm City, University debate parking
Women belong in the House...
Malloy will visit New Haven’s Planned Parenthood tomorrow. Malloy spoke out against Congressional efforts to defund the women’s health organization over the summer, saying, “What they would do is deny women and poor people the ability to get the same treatments that they would want their daughters or mothers or wives to get.”
MAZEL TOV!
WIKIMEDIA COMMONS
Harvard does not have distinct cultural centers but instead has a Foundation for Intercultural and Race Relations. BY MONICA WANG AND ELLEN KAN STAFF REPORTER AND CONTRIBUTING REPORTER In the wake of student demonstrations and demands for an improved racial climate on campuses across the country, University President Peter Salovey has expressed his hope that Yale will lead its peer institutions in providing support for a diverse student body. While Yale differs from many other schools in housing four distinct cultural centers, students and
Traffic costs state $5.1 billion BY NOAH DAPONTE-SMITH STAFF REPORTER $5.1 billion: the amount state residents pay each year to address congestion and poor roads in Connecticut each year, according to a new report from the national transportation research group TRIP. Rocky Moretti, the director of policy and research at TRIP, announced the report’s findings at a joint press conference in Hartford last week with representatives from the state government and Connecticut’s business community. The results are dire statewide. In the New Haven area, deficient roads and bridges, rampant congestion and a dearth of safety features on roads cost drivers nearly $2,100 annually, under the average for the Bridgeport and Hartford areas. The TRIP report rates three-quarters of major roads and bridges in the New Haven area as being in either “poor” or “mediocre” condition, just over the average of 72 percent statewide. And the situation is worsening, the report says. Traffic congestion — which causes 40 annual hours of delay on average in New Haven and 45 in Hartford — has increased in recent years, and TRIP reports that nearly 10 percent of bridges statewide are “structurally deficient” and in need of immediate repairs. State Senate Majority Leader Bob Duff, who represents the commuter town of Norwalk in Fairfield County, said the report’s findings should alert the U.S. Congress of the need for transportation investment. SEE TRAFFIC PAGE 6
administrators at Yale and beyond agree that more must be done to promote a campuswide culture of inclusivity. In a University-wide email on Nov. 17, Salovey announced a host of changes designed to foster such a culture, including the doubling of the budgets for the four cultural centers: the Asian American Cultural Center, the Afro-American Cultural Center, La Casa Cultural and the Native American Cultural Center. With professional counselors from Yale Health’s Mental Health
Yale investment model difficult to imitate GRAPH YALE ENDOWMENT RETURN THROUGH THE YEARS 28.0%
30% 25%
19.4%
22.3% 22.9%
21.9%
20.2%
20% 15% 10% 5% 0
12.5% 9.2%
8.9% 0.7%
8.8%
4.5%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
11.5% 4.7% 2011
2012 2013
2014 2015
-5% -10% -15% -20% -25%
-24.6% MERT DILEK/PRODUCTION & DESIGN EDITOR
BY FINNEGAN SCHICK STAFF REPORTER Since arriving at Yale in 1985, Chief Investment Officer David Swensen GRD ’80 has raised the University’s endowment from $1.3 billion to its largest size ever, $25.6 billion. But this success is difficult to imitate. Economists and financial commentators are fond of using Swensen’s successful investment strategies as a model for private investment, recommending that individuals imitate Yale to grow their own wealth. A
Nov. 20 article titled “Three Lessons from Yale’s Endowment Fund” by John Rekenthaler, vice president of research at the investment management firm Morningstar, is the latest in a sequence of articles translating Yale’s strategies to the general public. But Swensen has argued repeatedly in articles and books that imitating Yale’s methods may not yield the best results for private investors who have less money and less time to wait for returns than Yale does. Even as the public continues looking to Yale for the
secret to financial success, some analysts recommend that investors look elsewhere for guidance and take investment into their own hands, rather than relying on external models. “Nothing succeeds like success,” said William Jarvis ’77, managing director of the Commonfund Institute, an institutional investment firm. “People look at Yale and want to have some of that for themselves. But the issue is that many people don’t understand how challenging it can be to manage the risks.”
In 2000, Swensen published “Pioneering Portfolio Management,” a book about how large institutions should invest their money. Across the country, thousands of institutions, including hundreds of colleges, began adopting similar versions of the methods outlined in Swensen’s book. But few saw the same success Yale did, according to a 2012 Forbes article titled “The Curse of the Yale Model.” Five years later, Swensen SEE INVESTMENT PAGE 8