Daily 49er Sept 17, 2015

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DAILY 49ER

Quotes of the night from the second GOP debate

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California State University, Long Beach

www.daily49er.com

Vol. LXVII, Issue 15

Town hall to discuss changes to President’s Scholars program

Thursday, September 17, 2015

The nature of art

The university president will host a meeting on Friday for current and former students to weigh in on the changes.

By John Broadway Staff Reporter

Community members and concerned students will gather at the California State University, Long Beach Anatol Center on Friday to discuss the proposed changes to the school’s President’s Scholars program. Future president’s scholars at CSULB will soon face changes to the scholarship program that reduce the amount of aid offered in order to allow more students in, according to a statement from President Jane Close Conoley. “For someone like me, the changes could have a negative effect because all of the financial aid they gave me was a big factor in me moving away and coming here,” said current president’s scholar and junior biochemistry major Tate Lone. “Maybe for those living in the [Los Angeles] area, it’s better for them because more scholarships are being provided, but if you’re coming from out of the area it’s a lot harder if you don’t have the full financial support.” The President’s Scholar program started as way to elevate the scholastic achievement on campus and help CSULB become one of the most sought after schools in the CSU system, according to the press release. Former CSULB President and President’s Scholar founder Robert Maxson said that he will continue to support Conoley’s decisions regarding the program regardless of any potential changes made. “I have the utmost confidence in President Conoley, and I know whatever decision she makes will be in the best interest for the university,” Maxson said. The new changes are consequently being made in order to widen the target demographic and help alleviate funding problems for the program, the statement said. “Today, [the CSULB president’s scholar program] remains the state’s

See SCHOLAR, page 2

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Viviana R amos | Daily 49er

An art piece of a tree by California State University Long Beach’s seniors Adam Lauft, Laura Ibarra and Taylor McKellar is displayed in front of the Social Science and Public Affairs building to encourage students and faculty think about the importance of trees in the environment.

ASI, student union tumble in the stock market The organizations’ investment portfolios loses over $100,000 in value combined in August. By Valerie Osier Staff Writer

Associated Students, Inc. and the University Student Union investment portfolios lost over $100,000 com-

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bined in August, their largest losses since the 2008 recession, according to ASI officials. ASI Executive Director Richard Haller shared in his Executive Director’s Report at the Sept. 8 Senate meeting that ASI’s investment portfolio had a net loss of $43,035 and USU’s investment portfolio had a net loss of $65,415 in August. While the value of the portfolios has decreased by over $100,000 combined, ASI has not cashed out their stocks and actually lost the money. “We had dramatic losses back in 2008, when the great recession hit,” Haller said in a later interview. “Those

were eventually recovered, so if history is any indication, then I suspect we will recover those.” Haller said they usually see a 5-6 percent return on investment each year. “Stocks can be volatile,” Haller said. “And I think there were concerns about the Chinese economy not growing as fast as it has been in the past … The stock market reacts to the slightest things and if there’s the least bit of uncertainty, then people start selling off their stock. So the prices go down.” The dramatic decrease in the values of the portfolios was felt across

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the entire U.S. stock market in August, said Wade Martin, a professor and chair of the economics department at California State University, Long Beach. He explained that the market sometimes experiences large readjustment periods when the prices have exceeded their values for too long, which is often referred to as a bubble. “There were some wide swings in August that people didn’t anticipate for the most part,” Martin said. “And also realizing now, the [Dow

See ASI, page 2

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