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Tuesday october 6, 2015 vol. cxxxix no. 82
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U N I V E R S I T Y A F FA I R S
U. endowment returns 12.7 percent, now up to $22.7B
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By Lorenzo Quiogue senior writer
In Opinion Columnist Reva Abrol discusses the token minority phenomenon and Columnist Azza Cohen criticizes media outlets for profiling perpetrators of mass shootings. PAGE 4
Today on Campus 4:30 p.m.: The Program in Russian and Eurasian Studies hosts an event on realism and socialism realism in Soviet cinema. 219 Aaron Burr Hall.
The Archives
Oct. 6, 1979
A group of 27 students demands an optional rebate of the part of the University health fee that funds abortions.
PRINCETON By the Numbers
22.7
The value of the University’s current endowment, in billions of dollars.
News & Notes Reported rapes at Harvard nearly double from 2013 to 2014
Harvard’s campus saw its number of reported rapes nearly double from 2013 to 2014, the Harvard Crimson reported. Reported rapes increased from 17 in 2013 to 33 in 2014. The increase accompanied a much smaller increase, from 40 to 43, in sexual offenses overall. The term “sexual offense” refers to fondling, rape, incest and statutory rape. Six of the 33 reported rapes were classified as “unfounded,” meaning “any report of a crime that is found to be false or baseless” after law enforcement performs an investigation. Dartmouth had 55 reported sex offenses in 2014, where “sex offenses” includes rape and fondling. The University reported eight instances of rape in 2014 in its Annual Security and Fire Safety Report, released last Wednesday, compared with six instances of rape in 2013. There were also 28 sexual offenses, two domestic violence offenses, one dating violence offense and five fondling offenses were also reported. Rape, fondling, incest and sodomy count as subsets of sexual assault in the University’s report.
MICKEY CLARKE :: CONTRIBUTING PHOTOGRAPHER
Jeff Smith, former Senate member and Assistant Professor at the New School’s Milano Graduate School, gave a talk on Monday at Robertson Hall Bowl 2 about his experience in prison. BEYOND THE BUBBLE
The University’s endowment returned 12.7 percent in the fiscal year that ended on June 30, according to Princeton University Investment Company president Andrew Golden. The total value of the endowment rose to $22.7 billion, up from $21 billion last year. PRINCO, which manages the University’s endowment, is expected to certify the results in a meeting of its directors on Oct. 22. Golden said that he was satisfied with the past year’s results. “That’s a nice number in absolute terms. It’s sufficient to meet our spending objectives and give us the ability to reinvest, and hopefully to offset future inf lation,” Golden explained. “That’s the kind of result that helps us achieve the endowment’s mission, which is to support the
teaching and research at this University.” This year’s return was above both Harvard and Yale‘s endowment returns, with Harvard returning 5.8 percent and Yale returning 11.5 percent. Golden explained that it would be difficult to draw conclusions from one year, but added that the three funds used different models. Golden explained that broad market indicators such as the Standard & Poor’s 500 Index generally have a minimal effect on the fund’s return. The S&P 500 rose 5.3 percent in the past fiscal year. He explained that PRINCO strives to build a highly diversified program that is somewhat immunized from broad market movements in most circumstances. “So broad market movements do have an inf luence, but that doesn’t explain as much about performance as See ENDOWMENT page 2
U N I V E R S I T Y A F FA I R S
Campbell ’04: firsttime candidate for Boston City Council By Olivia Wicki staff writer
Andrea Campbell ’04, a firsttime candidate running for Boston City Council, is leading in the preliminary polls against incumbent Charles C. Yancey. Yancey has represented the city’s District 4 since the district was created in 1983. Campbell beat him 58 to 34 percent in the Sept. 8 preliminary election, and voters will ultimately decide who the representative will be when they return to the polls for the municipal election on Nov. 3. Campbell explained that she did not always aspire to run for political office. “Never in a million years did I think I would be doing this,” she said of being in the race. Campbell used to work as a lawyer in the office of Massachusetts Governor Deval Patrick. The death of her twin brother Andre when they were 29 years old in pre-trial custody spurred part of her career trajectory change, Campbell explained. “When life happens, and what I mean by that is when you go through things in life, whether it’s deaths in your family or other tragic circumstances, sometimes they pull you in different directions,” Campbell said. Her brother had been a pretrial detainee for two years in Massachusetts. Having been diagnosed with an scleroderma, an autoimmune disease, six years before his arrest, he was not getting the medical care he required, Campbell said, and he passed away while he was in custody. Campbell said she had been advocating for increased medical attention for him. “As his next of kin – both our biological parents are deceased – I was the one bearing the burden advocating for him, I was
the one who was responsible for advocating for him to get appropriate medical care,” she explained. The death caused Campbell to reflect on their upbringing as siblings. “When something like that happens and you’re going through the bereaving process, you begin to look back and ask questions,” she said. “And so for me, the questions I asked myself were, ‘How do two twins born and raised the city of Boston have such different life outcomes?’” Campbell attended what she described as the prestigious Boston Latin Grammar School, earned a bachelor’s degree at the University and then attended the University of California at Los Angeles law school, while her brother cycled in and out of court. After leaving her job as an attorney in Patrick’s administration, Campbell decided to make the run for city council. “I left the private sector to go into the public sector,” Campbell explained. At the University, Campbell majored in sociology and wrote a thesis titled “XY” about blackJewish intersections in urban life. She made the switch to sociology from mathematics after her father passed away in her sophomore year. His death made her reconsider her path and realize she should be pursuing her actual passions, she said. Campbell noted that she decided to pursue the academic interests most important to her, even as she recalled sometimes being the only person of color as well as the only non-Jew in her classes. “I was taking classes in sociology, black and Jewish relations in urban settings,” she said. See CAMPBELL page 2
COURTESY OF BLOOMBERG.COM
Paul Volcker ’49, former Federal Reserve Chairman, recently donated his public service papers to the University.
Volcker ’49 donates public service papers to U. library By Christina Vosbikian staff writer
Former Federal Reserve Chairman Paul Volcker ’49 donated his public service papers to the University on Sept. 11, according to University Archivist and Curator of Public Policy Papers Daniel Linke. The collection of Volcker’s papers, currently comprised of 29 boxes with an additional 30 expected in the coming months, is located in the Mudd Manuscript Library, a division of the Princeton University Library’s Department of Rare Books and Special Collections. Covering Volcker’s time as chairman of the Board of Governors of the Federal Reserve System, Undersecretary of the Treasury for Monetary Affairs and president of the Federal Reserve Bank of New York, the papers include correspondence, speeches, re-
ports and memos. Additional materials will pertain to Volcker’s work with the World Bank, United Nations and President Barack Obama’s Economic Recovery Advisory Board. Volcker did not respond to a request for comment. Linke explained that the acquisition of these papers was the culmination of about eight years’ worth of on-andoff correspondence between himself and Volcker. “It’s in the last year and a half, essentially, that things got serious,” Linke said. “Giving up his papers is a really significant thing for him to do.” Linke explained that Volcker and his staff are in the process of gathering and collating the records that will be adding to the collection in the coming months. Linke noted that some documents currently housed in the collection include cor-
respondence between Volcker and then-U.S. Vice President George H.W. Bush, and between Volcker and then-U.S. President Ronald Reagan. The papers also contain a transcript of Volcker’s testimony before the White House Joint Economic Committee about his monetary policy stance in 1982. These kinds of documents, Linke explained, provide an invaluable resource for historical study of U.S. economic history. One of the areas in which the University collects is economic development, Linke said. He noted that the Mudd Library houses about 35 collections on this topic from across the 20th century. Linke explained that when Volcker himself toured the Mudd Library, he noted the presence of papers from James Baker, whose time as Secretary of the Treasury See VOLCKER page 2