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THE PAUW WOW Vol. LXXXI, No. 9 Saint Peter’s College Student Newspaper Wednesday, April 1, 2009 College to Close Due to Misleading Madoff Investments By Gary Young Editor in Chief, ‘09 According to a press release by the Southern District of New York Attorney’s office, Bernie Madoff’s investments even have reached academic endowments. Saint Peter’s College, along with Fordham University and Drew University, have all become, through shell corporations and middlemen, victims of Madoff’s scheme. Open Court Investments, a New York based investment house, allegedly invested Saint Peter’s College, Fordham University, and Drew University’s money into Bernard L. Madoff Investment Securities LLC. “Saint Peter’s Endowment has lost some 60% of its value, and the college will be forced to close, pending an evaluation by the office of the Jesuit General in Rome,” According to a college administrator who wished to remain anonymous. He/She went on to say, “There is no word yet as to the timeline of the reopening, but classes will not resume in Fall 2009.” Fortunately, the 26 other United States’ Jesuit Colleges and Universities have opened their doors to Saint Peter’s students who will be without a school next semester. Special transfer applications for Saint Peter’s students are available through the Association of Jesuit Colleges and Universities at http://www.ajcunet. edu/. When approached for comment, Saint Peter’s college officials offered none, and did not reply to this newspaper’s inquiries. One of Saint Peter’s former football players told this reporter, “First the college took football from us, and now, they’re forcing us out.” Fordham University, the closest Jesuit University to Saint Peter’s, will not be accepting applicants, due to their similar involvement with Madoff’s investments. Steven Rodgers, the assistant director for Transfer Students at Saint Joseph’s University has said, “As a fellow Jesuit University, we are obligated, in the spirit of Cura Personalis, to welcome our brothers and sisters from Saint Peter’s into our community.” Some Saint Peter’s students, when told the news, expressed desire to attend Saint Joseph’s University, the closest to Saint Peter’s. Other students will be traveling further from Jersey City to continue their education. Jacob Hayden, Class of 2010, a criminal justice major from Pullayup, Washington, has already made arrangements to return home, hoping to finish attend his last year at Seattle University. Graduating seniors are concerned with how these circumstances will effect their applications to graduate school. Chris DePizzo, a senior from Youngstown, Ohio, is applying to law school and is concerned with how the college’s closing will affect his bachelor’s degree’s credibility. “I’ve spent four years of my life here at SPC,” DePizzo said, “and now I’m not sure if my educational journey will end here because the college is closing.” See Madofff on Page 7 Photo courtesy of Photo by martin sirakov Madoff (above) and the soon to be closed college. Pope Hall Wins USAAC Architectural Award By Paul Lazaro Staff Writer, ‘11 Last Wednesday, Saint Peter’s College Pope Lecture Hall was honored by the United States Collegiate Architectural Awards Committee. The lecture hall and its architect narrowly bested the Air Force Academy’s Cadet Chapel and The Harvard Law Library, for the award of All Purpose Superior Structure. “My eyes just lit up when I first laid eyes upon those artfully crafted brown bricks,” commented USAAC Chairmen Luis DeOverture. “Once inside it was easy to recognize why this building is so prized by the Saint Peter’s College community. The overall darkness and lack of natural sun exposure within the building makes Pope Lecture Hall ascetically ideal.” An award of this magnitude cam as a surprise to some Saint Peter’s College students, “I have always known that Pope Hall has been at the forefront of technology in the classroom, but to see it awarded for all best all around structure is breathtaking,” commented Saint Peter’s sophomore Rojendra Pradhan. Yet, some students are dismayed by the honors, See Pope on Page 7 Photo by Aashish shrestha The unique combination of brick and concrete made Pope Hall stand out among the competition. Kanye and the Rolling Stones to Headline Peacock Palooza ‘09 By Justin Roberts News Editor, ‘10 Saint Peter’s College’s next and final Peacock Palooza will feature Kanye West and the Rolling Stones. Frank DeMichele, layout editor of this paper and member of the Peacock Palooza planning committee, managed to secure the Rolling Stones with the help of his uncle, Bill Wyman, bassist for the band. Wyman, when reached for comment said, “Frankie’s my sister’s kid. How could I say no to him.” The band will arrive on campus on April 28th, stay in a Jersey City Hotel, and open Peacock Palooza. The college’s attraction of Kanye West was similarly fortuitous. The Peacock Palooza committee entered the college into Kanye West’s “My Nation is in a Recession Free Concert Lottery.” Kanye will not be signing autographs, as he is slated to play Peacock Palooza during the day, and head to the Izod Center for a concert on the night of April 29th. Due to security concerns, the college will only admit the first 300 students, as the concert will be held on the roof of Pope Lecture Hall. Mayor Jeremiah Healy, of Jersey City, admits his excitement at the prospect of the Rolling Stones and Kanye See Palooza on Page 7

Pauw Wow 2008-2009 Issue IX

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