OPINIONS OPINION UNIVERSITY FINANCES 21 BUSINESS JE SUIS CHARLIE..? A VISION FOR THE COMMENTATOR A Diverse Student Body; The State of YU’s Liberty, Equality, and Endowment Obscenity: The Boundaries of a Multiplicity of Opinions. 11 Free Speech Let Your Voice be Heard. 13 The FEBRUARY 23, 2015 OMMENTATOR Volume LXXIX C The Independent Student Newspaper of Yeshiva College, Sy Syms School of Business, and Yeshiva University • www.yucommentator.org Issue 6 Birthing Pains: An Einstein Agreement is Made By Abraham Gross As President Joel noted, the university has had a long and endowment pool were revealed. As reported in the annual proud history with both Einstein and Montefiore. Einstein survey by Commonfund and the National Association of On February 3rd, Yeshiva University and Montefiore and Montefiore have been in various contractual agree- College and University Business Officers, of 92 North Health System, in a joint statement, announced an agree- ments for several decades, well before President Joel took American universities with endowments of over one bil- ment on the terms of the deal between the two institutions office. He describes this latest agreement as “a natural lion dollars, Yeshiva University was the only one among that had been in negotiations since last July. The deal synergy.” In his words, “for Einstein as a medical school them whose endowment has not increased but in fact has promised to grant Montefiore greater financial control over to be a research enterprise in the 21st century, it has to decreased by 8% in the last fiscal year. Expenses related the Albert Einstein College of Medicine, a major cause of be in unity, given Einstein’s quality, with a great medical to the maintenance of Einstein are reported to account for the University’s annual deficit. Last December, it was con- approximately two-thirds of the deficit, $100 million of firmed by Moody’s Investor Service that negotiations had the total $150 million of debt that YU faces. “Remember, broken down between the two parties, which threatened to those statements will not be reflective of tomorrow, they plunge Yeshiva University into deepening financial straits. will be reflective of yesterday,” President Joel warned, However, it now appears that, pending “final documenta- adding that “any statement made can be a diversion that tion and regulatory approval,” the deal is set to continue just has you take two steps back…you’ll get more from me as planned. then you’ll get from anybody.” The weeks leading up to agreement were marked by Adding to the difficulty of properly addressing unclear uncertainty and unrest; in January, the faculty senate of expenses is the lack of transparency as to what the deal Einstein issued a vote of no confidence directed at Presi- will actually do. President Joel maintains that Yeshiva dent Joel and Yeshiva University board amid much dis- University will continue to hold a 49% share in the medi- cussion of the responsibility of the administration in the cal school’s equity, as well as all of its real estate. Howev- future of the medical school. President Joel, in an exclu- er, Joel guarantees that the University will no longer take sive interview with The Commentator, characterized the any financial responsibility over Einstein. For the foresee- senate’s actions as a reflection that “different parties have able future, YU will remain the degree-granting institu- different realities,” and that the boards of Einstein and YU tion; however, it is conceivable that Einstein may become “didn’t need a resolution of the faculty to decide that there system, and Montefiore is a great medical system. So it’s a its own degree granting institution. As to why Montefiore should be a deal”; in his view, “their actions were not a natural synergy. It’s where it needs to go.” would agree to Yeshiva University seemingly maintaining factor in this.” This tightening of the bond between Montefiore and all the benefits of Einstein while simultaneously accepting Of course, it was not only the faculty who seemed con- Einstein comes at a particularly troubling time in Yeshiva the hefty operating expenses of the school, President Joel cerned. On the day the agreement was announced, hun- University’s history. On the same day that the agreement only said that “it’s not an arms-length adversarial relation- dreds of students rallied in support of the Einstein deal. was announced, new figures about Yeshiva University’s ship. I mean, sometimes there are difficult negotiations, see Einstein Agreement, cont p. 4 NEWS BRIEFS BY COMMENTATOR STAFF YU FINDS NEW GRADUATION years. Arena officials cited financial YU’s administration and professors New York area, and some from the heard from Marlon Shirley, a deco- VENUE losses as the main reason for the will sport their signature silk robes more far-flung reaches of the United rated Paralympic athlete dubbed the shutdown; had it remained open, the and plush velvet hats on The Rock’s States. The legendary Henry Wit- “world’s fastest amputee,” who has Soon after hosting Iggy Azalea arena would have lost around $8.5 twenty thousand square foot arena tenberg, for whom the tournament won medals in various competitions, on her Great Escape Tour and Mc- million in 2015. floor. President Joel had assured the is named, founded YU’s wrestling including high jump, long jump, and donald’s annual Gospelfest, the Pru- As soon as the shutdown was worried soon-to-be graduates that “a team in 1955 and served as YU’s 100m and 200m races, and received dential Center will host an event that publicized, YU, along with thirteen great alternative” would “be secured first wrestling coach. He won Olym- the ESPY award in 2003 for best will be less musical but more inspir- other colleges and high schools, in the next few weeks,” and he did pic gold and silver medals for wres- disabled athlete. ing: YU’s 84th annual commence- scrambled to find a new venue for not disappoint. tling, and, in 1977, he was inducted The wrestling continued on ment exercises. The ceremony was its 2015 graduation. On February into the Wrestling Hall of Fame. Sunday and culminated with the originally slated for the Izod Center 11, President Joel announced that SAR WINS 20TH ANNUAL WIT- The festivities began when the championship final rounds at mid- of East Rutherford, New Jersey, the ceremony will remain on its TENBERG TOURNAMENT out-of-town teams arrived on the day on Monday - the SAR Sting where YU has held graduation for previously scheduled date, Sunday, afternoon of Thursday, February 12. of Riverdale won the tournament, “And Jacob was left alone; and many years, even after the Nets, the May 17, but will now be held at The wrestlers weighed in on Friday while MTA and TABC rounded out there wrestled a man with him until Devils, the Seton Hall Pirates, and Newark’s Prudential Center. Nick- morning, and prepared for the first the top three. According to Rabbi the breaking of the day.” the Storm (NJ’s now extinct lacrosse named “The Rock,” the Prudential round which began at 10:30. The Kenneth Brander, Vice President for In order to encourage imitation team) had all vacated the arena. But Center is a $375 million sports are- teams spent Shabbos together at a University and Community Life, the of the ways of our forefathers, YU the plan fell through when, on the na in Newark, NJ that seats around hotel, where they were treated to tournament created a unique mix of hosted its 20th annual Henry Wit- afternoon of January 15th, the New 18,000 and boasts 360-degree LED delicious meals and participated in tussling and Torah, allowing “young tenberg invitational high school Jersey Sports and Exposition Au- ribbons and an eight-sided HD the third annual Wittenberg Trivia Jewish athletes to bond with each wrestling tournament beginning thority voted to shut down the arena Jumbotron. In a few short months, Tournament (known to be as com- other in a Torah environment.” Friday, February 13. The tourna- by the end of the month and keep YU’s graduating class of 2015 will petitive as the wrestling itself). Af- ment included many teams from the it closed for at least the next two display their caps and gowns and ter Friday night dinner, the wrestlers 2 Editorial Monday, February 23, 2015 - 4 Adar, 5775 The The DITORIAL COMMENTATOR Arieh Levi E Editor-in-Chief Now What? Daniel Atwood So, we’ve managed to get rid of Einstein, and with it will increase, allowing less time for research. While ten- Managing Editor two-thirds of our debt. Of an estimated $150M annual defi- ured and tenure-tracked faculty will stay on, large num- * cit, we’re now down to $50M – Einstein supposedly ac- bers of contract faculty will be replaced by adjuncts that Ben Kohane counted for $100M. Which begs the question: how do we cost a fraction of the price and can only add a fraction of Senior News Editor fill a $50M hole? More specifically, how do we fill it with the value. To illustrate, adjuncts typically make between Avi Strauss sustainable and increasing cash flows? $3,500 and $6,500 per course. The average adjunct, then, Junior News Editor As always, it comes back to in- must teach 12 courses to receive an income of $60,000. * Arieh Levi creasing revenues and decreasing The average New York City-based adjunct will therefore Daniel Atwood Editor-in-Chief costs. Let’s start with the former. be teaching hundreds of students spread across 12 courses Senior Opinions Editor In my conversations with Presi- at – for example – Fordham, City College, Manhattan Col- Joshua Tranen dent Joel, the President pointed to two specific revenue- lege, Columbia, and YU.