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THE TUFTS DAILY Est Where You Read It First Snow 36/26 THE TUFTS DAILY Est. 1980 VOLUME LIX, NUMBER 12 TUESDAY, FEBRUARY 16, 2010 TUFTSDAILY.COM Dartmouth policies Universities’ endowments saw tackle rise in drinking major losses last year, report shows BY MICHAEL DEL MORO BY SAUMYA VAISHAMPAYAN about underage drinking. Daily Editorial Board Daily Editorial Board “The town shares with the College the goal of reducing This article is the first in a Tufts students are no lon- the risks to student health and two-part series examining college ger alone in facing harsher safety posed by excessive alco- endowments. Today’s installment measures targeting alcohol hol consumption,” Giaccone focuses on the findings of a report abuse, as Dartmouth College’s said in the Feb. 10 press release. detailing major endowment losses. local police department has “From the statements made in The second article, to appear in unveiled a new enforcement recent days, it is clear that tomorrow’s Daily, will look at the strategy to combat a per- the Greek Leadership Council possible reasons for these losses. ceived rise in underage drink- and other involved student University endowments ing on campus. groups also share this goal across the country, includ- In a Feb. 4 meeting with and are committed to working ing that of Tufts, suffered huge Dartmouth’s Greek life com- energetically to achieve harm losses in the past fiscal year, munity leaders in Hanover, reduction.” according to a Jan. 28 National New Hampshire, Hanover Zachary Gottlieb, president Association of College and Police Chief Nicholas of the Interfraternity Council University Business Officers Giaccone announced a new at Dartmouth, highlighted the (NACUBO)-Commonfund Study strategy of instating compli- proactive approach taken by of Endowments (NCSE) report. ance checks at fraternities to the Greek community in engag- The NACUBO and the reduce underage drinking. ing with the Hanover police. Commonfund Institute surveyed DAILY FILE PHOTO The proposed checks would “There are a lot of conversa- 842 institutions and found that Harvard University, like many institutions across the country, has suffered allow the Hanover Police tions happening,” Gottlieb told endowments fell by an average of a huge loss in its endowment. Department to send unaffili- the Daily. “Many are internal, 18.7 percent during the 2009 fiscal ated undercover agents into but we have also branched out year, which ended June 30. as the numbers indicate, however, These changes will likely revolve Dartmouth fraternities to to the student assembly. This These losses coincided with in light of the fact that the 10-year around issues of governance, such pose as underage individuals is an issue that will affect the the economic recession and national average for net endow- as managerial malpractice and attempting to procure alcohol. entire student body.” have led to a review of finan- ment returns is four percent. portfolio rebalancing, according In the event that their Gottlieb added that many cial management. Tufts’ endowment has nearly to Redd. attempts succeed, the agents fraternities are now consis- While these losses appear doubled since 2000, a statistic that “I guess you could say institu- can give evidence to the tently requiring students to quantitatively drastic, com- university officials are quick to tions are making sure their plans Hanover police and create show their Dartmouth identi- parisons reveal that university highlight at a time when short- and policies are being strongly grounds for prosecuting the fication cards to gain entrance endowments over the course of term financial news tends to be adhered to and that investment implicated fraternity. into an event. the year performed relatively overly emphasized. managers are monitoring things,” The new policy met with “Individual organizations better than the overall financial Chairman of Tufts Redd told the Daily. strong opposition from the stu- are being more vigilant, mak- market, according to NACUBO Administration and Finance Exactly what those changes dent body and Greek organiza- ing sure that they’re on top of Director of Research Policy and Committee Andrew Safran (A ’76) are, however, remains to be tions on campus in the days everything, and taking greater Analysis Ken Redd. emphasized the importance of seen and Tufts officials main- following the announcement. responsibility for students and Redd pointed out that while this long-term growth trend over tain that despite the size of The Dartmouth Student guests,” Gottlieb said. university endowments’ losses the temporary losses of the past the recent loss, no significant Assembly on Feb. 9 passed a Dean of Student Affairs were on average below 20 percent, year and pointed out that since changes are anticipated. resolution stating the need for Bruce Reitman pointed out that the Standard and Poor’s 500 Index 1999, the university endowment’s “No major strategic or poli- a reevaluation of the Hanover although changes in official dipped nearly 26 percent during value per student has increased cy changes have been made in Police Department’s proposed alcohol policies can help to curb the same time. from $62,000 to about $120,000. response to market conditions; enforcement strategy. student drinking, these are just Still, schools like Harvard and Still, the losses of this past year marginal changes are made on a Giaccone announced the stopgap measures, and a change Yale suffered egregiously, losing will likely force universities like regular basis,” Tufts’ Director of next day a delay in the exe- in the drinking culture itself is nearly 30 percent of their endow- Tufts to make adjustments to both Public Relations Kim Thurler said cution of the policy and the the only way to permanently ments, while Tufts’ endowment their annual financial budgets and in an e-mail to the Daily. compliance checks in order decrease unsafe drinking. declined by 23.7 percent. long-term investment strategies, Safran did not point out any to allow different community The outlook for university according to a press release sum- groups to engage in a dialogue see DARTMOUTH, page 2 endowments may not be as bad marizing the NCSE report. see ENDOWMENT, page 2 Seniors count down to graduation at 100 Senate to bring discussion on the body’s Days Celebration diversity representation to wider community BY BRENT YARNELL position to the individual culture centers, Daily Editorial Board while another would eliminate the posi- tion altogether. The Tufts Community Union (TCU) Senate TCU Vice President Antonella Scarano this spring will launch a campus-wide dia- said that the meeting was intended to logue on the future of diversity representa- shape the scope of future conversations tion in the Senate, continu- about the subject. ing an ongoing discussion “The proposals were just a conversation about the role of community starter,” Scarano, a senior, said. “We just representatives in the body. wanted to make sure that we had all sides The Culture, Ethnicity, fleshed out so we can have an organized and Community Affairs discussion about it going forward.” Committee (CECA) met CECA Chair Nedghie Adrien, a junior, said Friday with the directors of the directors’ feedback helped re-direct the the six culture centers to seek feedback on committee’s focus. proposed changes to the Senate’s commu- “I would say the discussion is going to nity representative position. go more toward what the change should Community representatives are internally accomplish, rather than what the change elected members of TCU-recognized student should be,” Adrien said. groups who are meant to provide a voice on The center directors also emphasized to the Senate for their respective constituencies. CECA the need to incorporate the larger stu- JENNA LIANG/TUFTS DAILY Currently, four student organizations have dent body in the discussion. University President Lawrence Bacow and his wife Adele Fleet Bacow delivered a toast representatives on the Senate: the Asian- “Whatever we do is going to impact [the to the Class of 2010 at Friday’s celebration in Dewick-MacPhie Dining Center. The American Alliance, Queer Straight Alliance, students] directly and impact the larger Tufts event commemorating the 100-day mark until the seniors’ graduation was sponsored Pan-African Alliance and the Association of community,” Adrien said. “We need to make by the Senior Class Council. Latin American Students. CECA’s favored proposal would tie the see COMMUNITY, page 2 Inside this issue Today’s Sections Strong performances Following a pair of News 1 Editorial | Letters 10 and cinematography late-game comebacks, lift “Wolfman” above hockey team secures Features 3 Op-Ed 11 horror genre. playoff spot. Arts & Living 5 Classifieds 13 Comics 9Sports Back see ARTS, page 5 see SPORTS, back 2 THE TUFTS DAILY NEWS Tuesday, February 16, 2010 Visiting the Hill this week Tufts emphasizes TUESDAY “Socialism in a Top Hat” reporting on Israel’s military endeavors. “Managing Without Growth: Slower Details: Elisa New, professor of English When and Where: 12 p.m. to 1:15 long-term goals by Design, Not Disaster” at Harvard University, will discuss her p.m.; Eaton 206 Details: Economist Peter Victor will new book “Jacob’s Cane: A Jewish Sponsor: Friends of Israel over current losses present his reasoning for challeng- Family’s Journey from the Four Lands ing the idea that economic growth of Lithuania to the Ports of London THURSDAY ENDOWMENT should be an economic policy priority and Baltimore.” “Chaplain’s Table: A Look at Religion” continued from page 1 of wealthy nations. When and Where: 4:30 p.m. to 5:30 Details: Father Nick Kastanas from the specific changes but said that the universi- When and Where: 3:30 p.m. to 5 p.m.; p.m.; Center for the Humanities Greek Orthodox Church in Arlington ty’s investment officers have always and will Cabot 702 Sponsor: Center for the Humanities will speak on the Greek Orthodox continue to practice prudence and ensure Sponsor: The Global Development and Church today.
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