DOCSLIB.ORG

Nysba Summer 2014 | Vol

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Nysba Summer 2014 | Vol NYSBA SUMMER 2014 | VOL. 25 | NO. 2 Entertainment, Arts and Sports Law Journal A publication of the Entertainment, Arts and Sports Law Section of the New York State Bar Association WWW.NYSBA.ORG/EASL From the NYSBA Book Store Section Members get 20% discount* with coupon code PUB2200N Entertainment Law Fourth Edition “The defi nitive text in the burgeoning fi eld of entertainment law. It provides an in-depth analysis of the key issues currently confronting the practitioners of its various specialties. For both its breadth and depth, I highly recommend Entertainment Law to students, academics and professionals alike.” “This is a must for anyone who is seriously involved in the entertainment business.” EDITOR-IN-CHIEF Entertainment Law, Fourth Edition, updates and expands the Howard Siegel, Esq. coverage of the previous edition, including the historical changes in the music industry, and features a new chapter on Exhibitions. PRODUCT INFO AND PRICES 2013 / 986 pp., Edited by Howard Siegel, Esq., this book’s 10 chapters cover the looseleaf / PN: 40862 principal areas of entertainment law, including the Recorded Music NYSBA Members $140 Industry, Music Publishing, Television, Film, Commercial Theater, Non-members $175 Book Publishing, Minors’ Contracts, Personal Management, and Exhibitions. Order multiple titles to take advantage of our low fl at rate shipping charge of $5.95 per order, regardless of the number of items shipped. $5.95 The authors, from the New York, California and Nevada Bars, are shipping and handling offer applies to orders shipped within the continental U.S. Shipping and some of the most successful entertainment law practitioners in handling charges for orders shipped outside the the country. continental U.S. will be based on destination and added to your total. *Discount good until September 15, 2014 Get the Information Edge NEW YORK STATE BAR ASSOCIATION 1.800.582.2452 www.nysba.org/pubs Mention Code: PUB2200N Table of Contents Page Remarks from the Chair .....................................................................................................................................................4 Editor’s Note .......................................................................................................................................................................5 Law Student Initiative Writing Contest ...........................................................................................................................7 The Phil Cowan Memorial/BMI Scholarship .................................................................................................................8 NYSBA Guidelines for Obtaining MCLE Credit for Writing .....................................................................................10 A Union for Football Players Blitzes Northwestern University .................................................................................11 (Paul Burmeister) 3D Printing, Secondary Liability, and Staying Ahead of Grokster ..............................................................................15 (Britton Payne) Has Idaho Dealt the Baseball Rule Its Third Strike? ....................................................................................................24 (Michael Crowley) Calculating Wagering Gains and Losses: A Statutory Interpretation of I.R.C. § 165(d) .........................................35 (Ning Yu Wu) Internet Piracy Developments: Recent Case Law, Voluntary Collaborative Solutions, and Proposals for Additional Remedies .............................................................................................................................................43 (Edward McCoyd) Future of Fair Use Is Present: Lois Greenfi eld v. Jill Pankey ...........................................................................................56 (Irina Tarsis) Automating Music Similarity Analysis in “Sound-Alike” Copyright Infringement Cases ...................................60 (Charlotte A. Tschider) Fixated on Garcia ...............................................................................................................................................................69 (Marc Jacobson and Marc Pellegrino) Direct Licensing Controversy: Will Publishers Be Able to License Public Performing Rights to Digital Music Services Directly (Instead of Through the Performing Rights Organizations) and What Are the Consequences for Songwriters? .................................................................................................................................72 (Steve Gordon) Entertainment Immigration: An Introduction to Employment-Based Immigrant Visas ........................................77 (Michael Cataliotti) Leslie S. Klinger v. Conan Doyle Estate, Ltd. .....................................................................................................................79 (Joseph Perry) Court of Arbitration for Sports Relevant Practice: An Analysis of the Most Important Swimming- Related Cases ................................................................................................................................................................82 (Sergey Yurlov) TV 101 .................................................................................................................................................................................84 (Nima Daivari) Krell’s Korner: Shipwrecked: A Legal Analysis of Gilligan’s Island ...........................................................................87 (David Krell) NYSBA Entertainment, Arts and Sports Law Journal | Summer 2014 | Vol. 25 | No. 2 3 Remarks from the Chair I am now six months into NYSBA’s CLE Department entitled: “Practicing Entertain- my tenure as Chair of EASL, ment Law in New York: What You Need To Know,” and the involved in all aspects of its Pro Bono Clinic at NYFA was held on June 3rd. In October, activities, and planning for we will again be providing panels and seminars as part of an exciting upcoming year as CMJ. Of course, neither the EASL Blog, nor the Journal, will summer approaches. I have be taking the summer off. survived chairing my fi rst Executive Committee meetings A social event by the Membership Committee is being (with the invaluable assistance planned for the summer. EASL membership can be a valu- of Diane Krausz) and I am able and fun social and networking group. Stay tuned for looking forward to many more. details. In a short period of time, We are closely monitoring several major cases, such as EASL has had three co-sponsored CLE events, all of which Aereo*, that will be decided shortly and I’m sure that EASL were tremendously exciting and successful, both in content will be actively involved in disseminating information and and in attendance. The second annual Cardozo Sports Law leading discussions on the outcomes. In addition, I am Symposium (co-sponsored with Cardozo and several other particularly happy to report that as a result of the efforts organizations) took place in March. The third (yes, third) of Judith Bresler, EASL has submitted a memorandum in annual seminar on the “Legal Aspects of Live Theatrical support of the proposed amendment to New York Arts Producing” (co-sponsored with CTI) and the panel on “In- and Cultural Affairs Law in regard to opinions concerning dependent Film Finance and Distribution” (co-sponsored authenticity, attribution and authorship of works of fi ne art. with Cardozo and the Metropolitan Black Bar Association) Lastly, I am looking forward to expansion of EASL’s both took place in April. Thank you to Anne Atkinson, Law School Liaison program under the stewardship of Jason Baruch, Diane Krausz and everyone else (I’m sure I Jason Aylesworth, to include not only more law schools, but have missed many names) who worked tirelessly to orga- to get the students and liaisons more actively involved in nize these events. I truly believe that EASL is becoming the EASL and EASL’s activities. pre-eminent presenter of seminars and educational events in the New York entertainment, arts and sports law legal I wish you all a good summer. community. Steve Rodner On May 21st, Barry Werbin and Mary Ann Zimmer *Decided 6/25/14. See nysbar.com/blogs/EASL. Post- presented the EASL Spring Meeting, which included Aereo: Has The Supreme Court Clouded the Future? by guests speaking about “Cutting-Edge Case Developments Barry Werbin, 7/3; Week in Review by Martha Nimmer, in Entertainment Law” and “Protecting and Enforcing 6/27 and U.S. Supreme Court Decision Favors Broadcast- Publicity Rights in Social Media.” In June, EASL also ran ers Over Aereo, by Barry Skidelsky 6/25. a full day entertainment law overview seminar for the Follow NYSBA and EASL visit on Twitter www.twitter.com/nysba and www.twitter.com/ nysbaeasl and click the link to follow us and stay up-to-date on the latest news from the Association and the EASL Section 4 NYSBA Entertainment, Arts and Sports Law Journal | Summer 2014 | Vol. 25 | No. 2 Editor’s Note Happy Summer reading! Pro Bono Update This issue is fi lled with inter- On March 29th, we hosted a roundtable discussion at esting and well written ar- ArtsWestchester and Kristine A. Sova led a conversation ticles concerning all aspects of about employees, interns, and general employee business entertainment, art and sports practices. It was a resounding success, and we are work- law topics. Please make sure to ing with ArtsWestchester to see if EASL can be helpful in visit the EASL Blog for regular other areas as well. updates,
Load more

Recommended publications
  • Read Ebook {PDF EPUB} Gillian's Island by Cat Johnson 15 Fateful Facts About Gilligan’S Island
    Read Ebook {PDF EPUB} Gillian's Island by Cat Johnson 15 Fateful Facts About Gilligan’s Island. The 98 th —and final—episode of Gilligan’s Island was broadcast on April 17, 1967. Though never a critical favorite, the show was still a solid ratings hit and the cast and crew had every expectation of returning in the fall for a fourth season. But at the last minute CBS needed to find some room on the schedule for Gunsmoke , the favorite show of Babe Paley, wife of network president William Paley. So Gilligan got the axe and, at least as far as viewers know, the cast is still stranded somewhere in the Pacific. Forty-eight years after that final wrap party, however, Gilligan’s Island is still on the air. It was sold into syndication and has been broadcasting reruns continuously in 30 different languages around the world. Just sit right back and you’ll hear some tales of everyone’s favorite castaways. 1. IT WAS INTENDED TO BE A “METAPHORICAL SHAMING OF WORLD POLITICS.” One day in a public speaking class at New York University, the professor had students compose an impromptu one-minute speech on this topic: If you were stranded on a desert island, what one item would you like to have? Sherwood Schwartz was a student in that class, and the question so intrigued him that it remained lodged in the back of his mind for many years. After working for some time as a comedy writer for other shows, Schwartz decided to pitch his own idea for a sitcom.
    [Show full text]
  • The George-Anne Student Media
    Georgia Southern University Digital Commons@Georgia Southern The George-Anne Student Media 9-8-2005 The George-Anne Georgia Southern University Follow this and additional works at: https://digitalcommons.georgiasouthern.edu/george-anne Part of the Higher Education Commons Recommended Citation Georgia Southern University, "The George-Anne" (2005). The George-Anne. 1886. https://digitalcommons.georgiasouthern.edu/george-anne/1886 This newspaper is brought to you for free and open access by the Student Media at Digital Commons@Georgia Southern. It has been accepted for inclusion in The George-Anne by an authorized administrator of Digital Commons@Georgia Southern. For more information, please contact [email protected]. Soap star on campus this Friday INEWS,P.S Nitty Gritty Dirt band i HIATUS, P. 13 D I Tailgate elsewhere Everything you need to High: 91 I Low: 75 Sunny GSU limits where students can tailgate, know about GSU football Volume 78 offers transit for game day I SPORTS, p. 6 I VARIETY, p. 12 Number 23 f I T f*\ A DAILY THE GEORGE-ANNE THURSDAY, SEPTEMBER 8, 2005 Tropical storm Students offer help Ophelia worries for victims Students find Florida coast By Casey Altman By Ron Word T—ZZ Assistant news editor Associated Press Ophelia near two Katrina devastated the gulf refuge at GSU JACKSONVILLE - Brisk wind 2004hurricar^) coast Sept. 29, leaving thousands Free tuition offered to at least 11 students displaced by hurricane and forceful rain from Tropical of people homeless. Families are Storm Ophelia moved through living in shelters across the South this beachside community from Houston to Atlanta.
    [Show full text]
  • MODERN LETTERS Te P¯U Tahi Tuhi Auaha O Te Ao
    INTERNATIONAL INSTITUTE OF MODERN LETTERS Te P¯u tahi Tuhi Auaha o te Ao Newsletter – 8 December 2006 This is the 99th in a series of occasional newsletters from the Victoria University centre of the International Institute of Modern Letters. For more information about any of the items, please email [email protected] 1. Rugby script wins Embassy Trust Prize............................................................. 1 2. More scripting success......................................................................................... 2 3. Writing workshops (1): Short Fiction................................................................. 2 4. Writing workshops (2): Creative Non­Fiction.................................................... 2 5. Other lives............................................................................................................ 3 6. The loss of Oz Lit?............................................................................................... 3 7. The next half dozen.............................................................................................. 4 8. ‘Tis the season to be jolly (1) ............................................................................... 4 9. ‘Tis the season to be jolly (2) ............................................................................... 5 10. But wait, there’s more ....................................................................................... 5 11. Last call for Evil Advice!..................................................................................
    [Show full text]
  • Gilligan's Island
    “GILLIGAN’S ISLAND” DOCKS AT TV LAND FOR THE FIRST TIME IN 10 YEARS Join TV Land For A “12-Hour Tour” With Your Favorite Stranded Sailors on Monday, January 20th New York, NY, January 16, 2014 – The old gang is back and better than ever! TV Land is welcoming “Gilligan’s Island” back to the network after a 10-year hiatus and for the first time ever, fans will be able to see the series re-mastered in HD. The network is celebrating in a big way by kicking off with a “12-Hour Tour” marathon on Monday, January 20th from 9am to 9pm. The classic sitcom then settles into its regular slot in primetime airing between 7pm and 9pm from Monday through Saturday. Join the fun online and follow @TVLand #12HrTourathon, and check out the TV Land Buzzfeed list of “Best Uses of Coconuts.” Pinterest will house pictures of the actual “island” and users can go to TVLand.com and TV Land on Facebook for more “Gilligan” fun. Launched in 1964, “Gilligan’s Island” became one of the most widely-seen and successful series ever in syndication. Created by Sherwood Schwartz and inspired by “Robinson Crusoe,” Schwartz developed what he believed to be a meaningful show that represented various citizens of America, brought together to survive on a deserted island. With his selection of characters -- the wealthy, the glamour girl, a brainiac, a wholesome girl, the misfit and the resourceful bull of a man -- Schwartz had hoped that the audience would find someone on the island with whom they could identify.
    [Show full text]
  • The Castaways on Gilligan's Island
    the castaways on gilligan's island (1979) free download ⓘ The Castaways on Gilligans Island is a 1979 made-for-television comedy film that continues the adventures of the shipwrecked castaways from the 1964–67 sitcom G .. The Castaways on Gilligans Island is a 1979 made-for-television comedy film that continues the adventures of the shipwrecked castaways from the 1964–67 sitcom Gilligans Island and the first reunion movie, Rescue from Gilligans Island, featuring the original cast from the television series with the exception of Tina Louise, who was replaced in the role of Ginger Grant by Judith Baldwin. Written by Al Schwartz, Elroy Schwartz and series creator Sherwood Schwartz and directed by Earl Bellamy, it was first broadcast on NBC May 3, 1979. Unlike the independently-produced Rescue from Gilligans Island, this and the subsequent The Harlem Globetrotters on Gilligans Island were produced by MCA/Universal Television. 1.1. Plot Part One. The movie picks up directly after the end of Rescue from Gilligans Island. The castaways are once again stranded on the same island that they had been on for so many years. The storm has contaminated all of the underground springs, and they are desperately searching for fresh water. Gilligan stumbles upon a pair of airplanes that are hidden in the jungle that they failed to notice throughout their 15 years on the island. It is revealed that the island was a base of operations for the Army Air Corps during World War II, and the hangar was abandoned and heavily overgrown with jungle brush, and as such hidden from plain sight.
    [Show full text]
  • Name That Pet! / Naomi Jones
    Cousin Alice’s Press 14925 Magnolia Blvd., Suite 311 Sherman Oaks, CA 91403-1331 Copyright © 2004 by Naomi Jones All rights reserved. No part of this book may be reproduced or utilized in whole or in part, or transmitted in any form or by any means, electronically or mechanically including photocopying, recording, or by any information storage and retrieval system now known or hereafter invented, without the express written permission of the Publisher. ISBN: 0-9719786-3-8 Cover graphics and book design by Syzygy Design Group, Inc. Cover illustration by Susan Gal Illustration Interior illustrations by Tanya Stewart Illustration Printed by United Graphics Inc. Printed in the United States of America First Printing: October 2004 Publisher’s Cataloging-in-Publication Jones, Naomi Name that pet! / Naomi Jones. -- 1st ed. p. cm. ISBN 0-9719786-3-8 1. Pets--Names. I. Title. SF411.3.L54 2004 929.9’7 QBI02-200487 10 9 8 7 6 5 4 3 2 WHAT PEOPLE ARE SAYING ABOUT “NAME THAT PET!” “ ‘Name That Pet!’ is one of those funny, uncategorizable books that are just for pet lovers. It is really a great book!” Lisa Ann D’Angelo, Managing Editor, Book Review Café “Pet naming has become one of the first emotional connections we make with our new friend. The author has included humorous, and both contemporary and historical names–along with defini- tions and references. This is a fun book to read and useful in its own way.” Susan J. Richey, Librarian, Santa Monica Public Library “My wife and I were amazed at the scope, details and fun in reading Ms.
    [Show full text]
  • Trygt Enkelt
    Sannsynligvis Veritas-godkjent kurs i arbeidspsykologiske Norges beste tester 28.–30. august CRM-system Påmelding: 815 48 333 – www.vegasmb.no www.cut-e.com/no/services/training.php Bedre å være kunde – enklere å være deg MEASURETOWIN WWWCUT ENO A-AVIS FOTO: ANITA MYKLEMYR ANITA FOTO: 4. AUGUST 2006 NR. 26 – 19. ÅRGANG – LØSSALG KR 25 FOTO: SCANPIX Alkoholbruk koster EU Parterapeut Sissel Gran: 1000 milliarder kroner GIR RÅD TIL LEDERE SIDE 30 I SAMLIVSTRØBBEL SIDE 14 FOTO: ANITA MYKLEMYR LEDERUTFORDRINGEN: De fl este takler tøff David Cameron —Labours banemann SIDE 8 PER OLAF LUNDTEIGEN: omstilling Reven Hyppige endringer og tøffe omstillinger i hønse- fører ikke til en brutalisering av arbeids- livet, viser forskning som påtroppende gården BI-rektor Tom Colbjørnsen har gjennomført. SIDE 6 Der de har gode ledere, takler de ansatte omstillingen best. Noen opplever imidlertid Opplevelse for LEDERVERKTØY: at klimaet er blitt råere og faller utenfor. STYRET alle pengene Side 24 SIDE 20 SIDE 28 I FOKUS PROGRAMVARE OG LØSNINGER INNEN: LØNN REISE ENKELT TRYGT TIBE REPUBLIC Tiden er en knapp ressurs. Derfor har vi lagt like stor vekt på Mer enn 40.000 bedrifter nyter godt av vår betydelige kompetanse brukervennlighet og en svært god brukerstøtte, som på gode gjennom snart 25 år. Kundene er svært fornøyd med oss, når vi løsninger. Vårt fokus er på brukerens hverdag og hjelpen er aldri mer spør sier mer enn 95% at de er meget fornøyd. Med Huldt & Lillevik enn en telefonsamtale unna. Huldt & Lillevik gjør det enkelt, sparer tid programvareløsninger er du trygg, fordi jobben blir utført, korrekt og og er kostnadseffektiv for bedriften.
    [Show full text]
  • This N That Plus Some More Stuff
    This N That Plus Some More Stuff I was trying to come up with a catchy title for this first article of 2021but I decided the above is better than “How Much Worse Can It Get?” I do hope this year is a good one for everyone but we know there will be challenges and blessings. When you are young the passage of time means good things. You can’t wait to drive, or get out of school, doors opening, new possibilities, new events in your life. As you get older it sometimes means your circle of friends becomes smaller, events get harder, and sometimes you can’t find the door. It is good we mark the passage of time for it reminds us of what is and is not important. One big lesson I have learned is the value of time and its relation to opportunities. “Therefore, as we have opportunity, let us do good to all, especially to those who are of the household of faith.” (Galatians 6:10) Our lives are like a bag in which we pull out one day, the number of days in that bag is limited. One does not know the number of days one has, therefore, don’t take it for granted. While writing this article, Friday, January 1, 2021 I came across an article by Ken Weliever which I thought worthy of sharing as it relates to one of today’s sermons. Happy New Year 2021! People want to be happy. We pursue happiness with passion. But happiness does not come by looking for it.
    [Show full text]
  • Virus Shots Start Next Week
    Project1:Layout 1 6/10/2014 1:13 PM Page 1 Gators: Florida faces Oklahoma in Cotton Bowl /B1 THURSDAY TODAY CITRUSCOUNTY & next morning HIGH 81 Partly sunny and LOW warm. 64 PAGE A4 www.chronicleonline.com DECEMBER 31, 2020 Florida’s Best Community Newspaper Serving Florida’s Best Community 50¢ VOL. 126 ISSUE 84 I Editor’s Note: Due to early deadlines for the New Year’s Day Virus shots start next week edition, Thursday night’s lottery numbers will not Elderly up first; Department of Health warns initial supplies will be limited appear Friday, FRED HIERS will offer COVID-19 vac- 2,000 doses this week and “We don’t know how get the vaccinations here, Jan. 1. Staff writer cines to senior citizens the first to receive them will many vaccinations we’ll she said. from 9 a.m. to 3 p.m. Thurs- be emergency first respond- have. We know we have Seniors wanting the vac- NEWS Citrus County residents day, Jan. 7, and Saturday, ers such as paramedics and 2,000 we received (and cinations are required to 65 years old and older Jan. 9, at the Central Ridge firefighters this week. first responders will re- bring valid identification BRIEFS wanting to be vaccinated District Park, 6905 N. Le- “Whatever is remaining ceive theirs first) so people and must plan to be in Cit- against the coronavirus canto Highway, Beverly will be used at the drive- can guesstimate based on rus County to receive their Citrus COVID-19 will have the opportunity Hills. thru next week,” she said.
    [Show full text]
  • Gilligan' S Island Season 3 Episode Guide
    Gilligan' s island season 3 episode guide Season 3 gogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogogo episodes30Rele- azerbaijan networkCBSOriginal release 12 September 1966 (1966-09-12) - April 17, 1967 (1967-04-4-12) Season 17 of the Chronology Season 2List episodes of Gilligan Island The Third and Final Season of the American comedy television series Gilligan Island began airing in the United States on September 12, 1966 and ended on April 17, 1967 on CBS. The third season continues the comic adventures of the seven outcasts as they attempt to survive and escape from the island on which they were shipwrecked. Most episodes revolve around conflicts of dissimilar outcasts and their failed attempts - invariably Gilligan's fault - to avoid their plight. The season premiere aired Mondays at 7:30-8:00 p.m. (EST). Initially, it was scheduled for the series to resume at the end of its third season, but at the last minute, CBS decided to resume their older gunsmoke show (which is soon vaulted to the top five in the rankings) and the fall of Gilligan Island. This came as a shock to both the cast and the show's creator, Sherwood Schwartz. At the time of its cancellation, the series ranked 44th out of 101 shows in total. Immediately after the end of the show, it was sold in syndication, in which it became a great success. However, Schwartz was forced to hire lawyers and audit United Artists Film Studios because they did not pay royalties in a timely manner. Critically, the season was originally brushed off, but contemporary reviews saw the season in a much more positive light.
    [Show full text]
  • Revealing True Character Through Cross: Archetypal Cross Examination Authored by Keith Belzer Devanie, Belzer & Schroeder, S.C
    Antelopes, Grizzlies & Mountain Lions: Revealing True Character Through Cross: Archetypal Cross Examination Authored by Keith Belzer Devanie, Belzer & Schroeder, S.C. 300 2nd Street North, Suite 200 La Crosse, WI 54601 [email protected] www.dbsjustice.com * * * * * “A conclusion is the place where you get tired of thinking.” Steven Wright By now most criminal defense attorneys have heard of and are likely introducing elements of storytelling into their trial practice. This article hopes to plant the seed of looking at the very foundations upon which stories have been told throughout the millennia. By looking at the roots of story we can the attempt to tell even more imaginative and compelling stories on behalf of our clients. * * * * * “Life is not a matter of holding good cards, but of playing a poor hand well.” Robert Louis Stevenson In the beginning there was counter punching. Back in a time where, perhaps, beyond a reasonable doubt, presumption of innocence and other constitutional protections still had meaning, it was not uncommon for the strategy to be “show me what you got and I’ll poke holes in it.” Or, “this is a house of cards, but…if you pull out this card here at the bottom, the whole house falls down.” The approach was simple, counter punch the prosecutor’s case until they had no case left and the jury would conclude that there was reasonable doubt. There was not a lot of push toward putting on a defense and clients very rarely took the stand. * * * * * “The only real lawyers are trial lawyers, and trial lawyers try cases to juries” Clarence Darrow 1 The next evolutionary stage of trial work took place when attorneys began to bring storytelling into the courtroom.
    [Show full text]
  • Crepe Room Appalachian Ghosts, Nancy Robert William Barrett WAV: 22 Black-And-White Photographs by Bru E (T
    CALL US SUN! Note The Chronicle's It's finally here, along with nice brisk tem­ telephone numbers: peratures. Chance of Newsroom: 684-2663 rain a mere 20%. Business office: 684-3811 The Chronicle Sports-Arts: 684-6115 Duke University Volume 74, Number 67 Thursday, December 7, 1978 Durham, North Carolina Founder's Day marks Endowment's origins By Scott McCartney University treasurer. Next Monday, Dec. 11, marks the 54th anniversary Harwood said that the University's endowment has of the founding of Duke University. On that day in been "hurt because endowment income has not been 1924 James ("Buck") Duke established the Duke going up as fast as the cost of inflation." Endowment, Inc., a foundation of which Duke Six and three tenths percent of the operating incpme University is a benefactor. of the University each year comes from endowment Buck Duke established the Duke Endowment with a funds, with the Duke Endowment contributing 3.5 principal of $40 million worth of stock in six percent, or $8.1 million, and the University endow­ companies. Today the foundation holds assets worth ment contributing the remaining 2.8 percent, or $6.6 $422 million, according to Richard B. Henney, million. executive director of the Duke Endowment. President Terry Sanford will hold a ceremony on Henney said that the Duke Endowment stock once Sunday at 10:40 in the chapel to commemorate^ the reached a value of $700 million, but has since declined 1924 signing of the trust agreement establishing the "due to the state of the economy." Nevetheless stock " Duke Endowment, and subsequently the University dividends have not been subject to market which was built around the heart of Trinity College.
    [Show full text]