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Market Tunnoil Affects Student Job Prospects 29 Arrested at Michigan THE The Independent Newspaper Serving Notre Dame and Saint Mary's OLUME 43: ISSUE 16 TUESDAY, SEPTEMBER 16,2008 NDSMCOBSERVER.COM Market tunnoil affects student job prospects Despite major economic trouble, Dow Jones loses more than 500 points Notre Dame diploma still valuable on Wall St.'s worst day in seven years ByJENN METZ Associated Press News Editor NEW YORK - The upheaval in the American financial system sent shock waves through the stock market The fate of Merrill Lynch and Lehman Brothers, for­ Monday, producing the worst day on Wall Street in seven merly two of the nation's top investment banks, reflect<; years as investors digested the failure of one of its most a "scary time" in the investment community, Lee Svete, venerable banks and wondered which domino would be Director of the Notre Dame Career Center, said. next to fall. "We don't know yet what the dominant effect will be," The Dow Jones industrial average lost more than 500 he said. points, more than 4 percent, its steepest point drop since The once-reliable companies' failings affect Notre the day the stock market reopened after the Sept. 11, Dame student<; of all majors, Svete said, in a volatile job 2001, attacks. About $700 billion evaporated from retire­ market. ment plans, government pension funds and other invest­ "Hight now, it's going to impact our job market for ment portfolios. student<; who want to pursue investment banking but The carnage capped a tumultuous 24 hours that redrew do not have an internship on their resume," he said. U.S. finance. Lehman Brothers, an investment bank that Lehman Brothers and Merrill Lynch were not present predates the Civil War and weathered the Great at la'>t Thursday's Fall Career Expo, but both firms have AP Depression, filed the largest bankruptcy in American histo- A stock broker takes a break from the floor during trading see CAREERS/page 4 on Wall Street in New York Monday. see WALL ST./page 4 Gigot Ctr. Hurricane Ike worries ND Texans as she flew into Houston launches By BECKY HOGAN Thursday for a family wed­ NewsWrirer ding near the Mexico-Texas border. Hurricane Ike slammed While in Texas, Bath was contest Galveston, Texas, as well as able to get a feel for how the parts of southern Houston state has been handling the By PUJA PARIKH early Saturday morning, leav­ effects of the storm. News Writer ing Notre Dame students con­ "People seem to be taking cerned about loved ones that the curfews very seriously," may have been affected in its Bath said. Dozens of Notre Dame students wake. According to CNN, are brainstorming to come up According to The Weather Galveston and Harris counties with their best entrepreneurial Channel, Galveston and implemented curfews begin­ ideas after the inaugural Notre southern Houston suffered the ning on Sept. 12, and about Dame Ideas Challenge began Sept. brunt of Ike's destruction, but 60 percent of Galveston 8 with a kickoff event at Legends. the storm's path took it from Island resident have evacuat­ This Ideas Challenge, which Louisiana to New York. ed. allows students to make their AP Senior Lorna Bath experi­ Although the hurricane dev- pitch on a variety of concepts, is Hurricane Ike evacuees from Galveston, Texas wait for family enced some the effects of organized by the Gigot Center for members to pick them up at a San Antonio bus stop Monday. Hurricane Ike last weekend see STORM/page 6 Entrepreneurial Studies. This new program supplements The Center's annual Notre Dame Business Plan Competitions. "The idea ean be from any disci­ pline and is designed to encourage student'> to think outside the box - 29 arrested at Michigan game Saturday to stretch their mind a'> to what is possible," said Karen Slaggert, Five people were arrested senior administrative assistant at By JOHN-PAUL WITT and transported to jail for the Gigot Center. "Our desire is to News Writer public intoxication, one of reach out to all student<> who real­ whom was charged with pos­ ly might want to make a difference One person was arrested session of false identifica­ in the world." · during Saturday's Notre tion. One individual was The competition is designed to Dame-Michigan football arrested and jailed for tres­ attract participants from across game and taken to jail for a passing and re-selling tick­ the University. felony charge of assaulting a ets on campus. "IThel Ideas Challenge is open police officer and resisting Two citations were issued to all Notre Dame graduate and law enforcement, and 22 inside the stadium for w1dergraduate students," Slaggert others were arrested and minors consuming alcohol said. "Designed to be less intimi­ transported to jail during while only two people were dating than our annual Business the game for alcohol related asked to leave the stadium, Plan Competition, the Ideas offenses, Notre Dame compared to nine ejections Challenge is perfect for student'> in Security Police (NDSP) assis­ last week for "violations of all colleges and all majors on cam­ tant director David Chapman stadium rules," Chapman pus." said. said in an e-mail to The Students compete in one of five Police made 29 total Observer Monday. categories. The first category, arrests this weekend on the One person was taken to called Lend a Hand, accepts ideas Notre Dame campus. NDSP the hospital for intoxication, likely to have a positive impact on made the arrests in conjunc­ police said. the world. The technical category tion with the Indiana State Seventeen tickets were is for concept'> likely to be devel- Excise Police, St. Joseph issued for alcohol-related County Police and the South see IDEAS/page 6 Bend Police Department. see ARRESTS/page 3 MARY JESSE I Observer Graphic page 2 The Observer+ PAGE 2 Tuesday, September 16, 2008 INSIDE COLUMN QUESTION OF THE DAY: HOW DO YOU FEEL ABOUT THE RAINY WEATHER SO FAR? Facebook etiquette My fellow Fal'!~bookers: It has eome to my attention recently that there are several problems in our favorite social networking land. And Andrew Diaz Priscilla Choi Zak Kapopoulos Andrew Kristiansen Lei Lei no. I'm not rdi~rring to the new Faenhook. I'm freshman freshman freshman freshman freshman talking about Kaitlyn Conway Keough Breen Philips Keenan Keenan Badin etiquette, peo- ple. What has Scene Writer "It sucks." "I like it, it's "Neutral. "It's really, "I feel like I'm happened to the days of dassy Facebooking? There are really cool!" Although God hath really, really, in a wet T-shirt eertain things, my friends, that are smote us with this really contest!" aeenptable, and certain things that are foul weather, He depressing." not. I feel like this is a large issue, some­ hath punished the thing that can't be fully diseussed in Michigan one column. So today, I will hold heathens with a myself to one target of these Face book faux-pas: the wall. far fouler football I think that there are several things team." you should never do on a Facebook wall. First and lilfmnost: You should never ask someone on a date via Faef\book wall. That's just embarrassing- both for IN BRIEF you and the person you're inviting out. Do you really want yow: humiliation to A live video interview with be public if you get turned down? And Philip Hoth, Pulitzer Prize and honestly, it's just not at all dassy. Save National Book Award winning that for a Faeebook message - then author, will take place in the it's acceptablt~. Hammes Notre Dame Thoro is one oxeeption to this: a Bookstore today at 8 p.m. The eompletely over-the-top invitation to interview will celebrate the woo your potential mate. In this case, release of his novel it's probably not even a potential mate, "Indignation" and be conducted morn like a good frinnd you can mess by author Benjamin Taylor. around with li1r thn purpose of a Facebook scandal. There will be a leeture entitled Those invites should look something "How We Can End the like this: "My dearest. darlingest Genocide in Sudan" given by !insert name hernl. My life will be John Prendergast in the eornph~toly lonely and incomplete if Hesburgh Center for you do not join me ltonighUthis week­ International Studies end! aUin Imy SYR, formal, the dining Auditorium, on Thursday from hall, my bod. etc. I I eannot live without 12:30 to 2 p.m. Lunch will be you. Yours forever, [your name!." available prior to the lecturP. It Anything but this obvious display of is sponsored by the Kroc all'!~ction is unneeessary for your Institute for International Fac:ehook wall. Don't make the mis­ Peace Studies, DeBartolo take of having it be~ serious. Performing Arts Center, and the Thn second faux-pas: Giving people TOM LA/The Observer Center for Social Concerns This your number via wall. Umm, open Associate Professor of Mathematics Claudia Polini celebrates her birthday event is free and open to the invitP on stalkers, anyone? Again, keep Monday. Polini celebrated with her freshman honors math class. public. it to the Faeebook message. No one wants creeper phone calls late at In "The Wonderbread Years," night, and that is exactly what you arc Pat Hazell finds humor in the opening yourself up to. Pnss on it. experience of growing up in Then there's always the adventures America. This event will be peoplP get into when they are, hmm, OFFBEAT Thurs., Fri., and Sat. at 7 p.m. shall we say, not in the right state of in the Decio Mainstage Theater mind.
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