Joint Meeting· Plans Progress

Eastern Illinois University The Keep October 2008 10-30-2008 Daily Eastern News: October 30, 2008 Eastern Illinois University Follow this and additional works at: http://thekeep.eiu.edu/den_2008_oct Recommended Citation Eastern Illinois University, "Daily Eastern News: October 30, 2008" (2008). October. 20. http://thekeep.eiu.edu/den_2008_oct/20 This is brought to you for free and open access by the 2008 at The Keep. It has been accepted for inclusion in October by an authorized administrator of The Keep. For more information, please contact [email protected]. THURSDAY J 10.30.08 VOL. 97 J ISSUE 47 LOCAL I MEETING CAMPUS I EVENT Joint meeting ·plans progress Panel to Coles Together, focus on Charleston, Mattoon share updates local effects By KRYSTAL MOYA City Editor of bailout Charleston and Mattoon's city councils encouraged further plan School of Business, ning on the project updates present ed at Wednesday's joint city council Business Solutions meeting. Center will host Coles Together, Charleston and discussion at Lumpkin Mattoon planning committees gave prcsemarions on the progress of projects that affect both municipal ities, such as the reformulation of By BRITTNI GARCIA corporate boundary lines in the two Campus Editor cities. "The corporate boundary lines ROBBIE WROBLEWSKI I THE DAILY EASTERN NEWS Business professor Richard Mayor John Inyart listens to a discussion between city manager Scott Smith and city administrator Alan have been in the works for quite Whitaker will nor downplay the some cime," said Scott Smith, the Gilmore for Mattoon Wednesday afternoon at the Charleston Carnegie Public Library. economic rimes in che United Charleston city manager. "I think it path," said Charlesron Mayor John bining one waste removal group ies; however, the Charleston council States. is important ro keep planning and Inyart. "We want ro gee rid of chis to diminate costs of fud and bet bdieved more research needed co be "We are in a chaotic time in his gee chis together and continue the jagged sec of teeth." ter organize trash rouces. The res conducted. tory for financial and econom proc:ess." The legal reformulation will come idential volunteer program would Cure Buescher, the Charleston ic places," Whitaker said. "So, this Corporate boundaries and water ar no cost co either city. increase community participation public works director, discussed panel is here ro provide opportuni and sewer facility service areas from Mattoon Mayor David Cline in the recycling program, removing the scarus of the Inrergovernmcn ty to bear wbar's going on and the Charleston and Maaoon have inter said he saw no opposition on the quantities of recydable items &om ral Cooperative Agreement between effect on reality." twined around Sarah Bush Lincoln city's side. Both sides agreed to con the waste scream, he said. Mattoon and Charlesron. The School of Business and Busi Health Center and the Coles Coun tinue the planning and further rhe "I think it's important to pro Lase year, Charleston paid a bal ness Solutions Center will host che ty Airport. process. vide guidance and education in chis ance of almost $9,400 co Manoon panel discussion, "Wall Street Bail Maccoon serves both businesses Afan Gilmore, the Mattoon endeavor," Gilmore said. "It is amaz for use of their tub grinder and sew out/Main Street Fallout," from 5 co with water and sewer, bur Charles city adminiscraror, discussed plans ing ro see what can be taken out of er camera chat grinds fallen cree 6:30 p.m. coday in the Lumpkin ton has pares of both businesses to incorporate a one-source waste the waste scream when you know limbs and natural wasre from scorms Hall Audicorium. within its corporate limits. removal contract that would include what to recycle." co dear the balance for chis year's fis Other panelist include business "It seems to me chat legally we residential volunteer recycling. Both councils showed gener cal calendar. professionals such as Jack Schul want co trade you the chunk of Gilmore proposed an investi al approval for the idea in solv tz, chief executive of the Agra R.oure 16 for a liale piece of a bike gation into the possibility of coming the waste issues of the two cir- » SEE CITY, PAGE 5 cel industrial developmenc firm in Effingham, Brian Tims, gen eral manager of Lorenz Supply UNIVERSITY I ECONOMY in Mattoon, Dan Downs, pres ident of First Neighbor Bank in Charleston and Chuck Lefebvre, No drastic changes made to university yet vice president of First Mid-Illinois Bank and Trust. With economic from the economic and financial During a recession, return on Perry said the srudent loan market "We have more diverse cross sec downturn. investments slow and endowments provided by direct lenders could dty tors of the panels, so we represent downturn, Eastern The Eastern Illinois University receive fewer gifts from donors. up a little which would affect afford academic side, bur we want co hear endowment takes a dip Foundation, which !'louses the uni Scholarships come from endow ability of higher education of sru from business leaders and hear from versity's endowments, has dropped ments. dents. affected owners and their marker 13.8 percent since the beginning Monticelli said che founda "Another factor is if jobs are lost place," Whitaker said. By EMILY ZULZ of rhe calendar year. tion cakes 5 percent off of a rolling and family members lose their income Whitaker said everyone hears Administration Editor The endowments have suffered three-year average for scholarships. then chat's going co affect whether or about this current siruation, but along with the equity markers, said The foundation adds the values not they're going co be able co scare or may not understand it all. The University of Massachusetts Elizabeth Monticelli, senior con from 2008, 2007 and 2006 and finish a college education," Perry said. "This impacts the real economy, has cue its budget by $25 million sultant for Hammond Associates. divides by three. He said some impacts c.ould be so we want to hear from chose who because of statewide budget curs. "Equity portion of endowmenrs If one year has a drop, the roll more srudenrs scarring at communi the real economy impacts," ~ira The University of California, decline as equiry markers globally ing calculation smooths out the ty college. ker said. Berkeley, faces $28 million in cues. decline," she said. Hucruarions in che market for the "Thar's a rrend already simply Whitaker said there would be Boston University has put a Although, the endowment has endowment account. because of the cost of higher educa several questions that will be dis freeze on new hires and new con outperformed equity markers, She said the impact of the cur tion," Peery said. cussed chat will allow business own muccion projects. which as a whole are down around rent economy would not be felt He also said universities may see ers to learn and address quesrions The University of Memphis is 19.3 percent, Moncicelli said. until 2010, 2011 or2012. some srudenrs taking a break, going they may have. delaying equipment purchases Like Don Gher, chair for investment "It will hurt, but they won't feel co community college and coming "This is a significant evenr in laboratory equipment and library committee for the foundation and as much chis year," Moncicelli said. back. the last 75 years since the Great books and subscriptions. treasurer of the foundation, said The foundation's spending and Both of these could affect Eascern's Depression," Whitaker said. "This "We haven't taken any actions the foundation was able co outper money will be reduced. enrollment. is worldwide, and happening essen Uke thac at chis time," President form che global market because of Fewer dollars will be given out "lc's possible appUcarions could tially in all countries." Bill Perry said. its diversified portfolio. and spending money on scholar decrease if there's a long-term down He said chis happened from rhe He said the university budgeted The foundation portfolio also ships will be h!duced over the nexr rum," Perry said. financial sector and led ro an eco conservatively. includes fixed income and hedge three years, she said. The opposite could happen as nomic effect. "There would have to be a sig funds, which were nor as affected "It's a delayed impacc, bur we wdl. Whitaker said this is the reality nificant change in our stare fund by the economy as stocks or equi all know it's coming," Monricel "Normally in times of recession because it is not only hurting the ing for us to start considering such ty funds. li said. when jobs are nor as plentiful, indi government; it is affecting people action," he said. "We didn't go down like the She said having a forewarning viduals rend co enroll in colleges co who are losing jobs. Perry said he has concerns with stock markets because we had och will allow the university to address retool, finish a degree or get a second Jeanne Dau, director of rhe Busi regard to scholarships. er assets ro protect us in the down the drop accordingly and will give degree," he said. ness Solutions Center, said the pan He said if there is a long-term turn," Gher said. "We were down everyone time to prepare. Although tuitions at higher educa eliscs would discuss issues relating downrurn then he thinks rhe uni but it could have been much worse tion instlrutions are higher than they co business issues, loans and how co versity will have a problem. if we had been in a stock portfo Overall financial system were during the last recession.

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