The Chronicle T h e i n d e p e n d e n t d a i ly at D u k e U n i v e r s i t y
Monday, february 7, 2011
ONE HUNDRED AND SIXTH YEAR, Issue 91
www.dukechronicle.com
Long-term Uni fund up 13.3%
Check you out
by Matthew Chase THE CHRONICLE
ted knudsen and chelsea pieroni/The Chronicle
2AM Club and Chiddy Bang performed for an enthusiastic crowd during Personal Checks in K-ville Friday night.
Keohane explores effective leadership by Anna Koelsch THE CHRONICLE
Duke’s first and only female president returned to campus to share what she has learned from her study and practice of leadership. Nannerl Keohane, former Duke president, gave her perspective on what makes a good leader Friday at the Sanford School of Public Policy, centered on her new book, “Thinking About
Leadership.” The discussion, led by Kristin Goss, assistant professor of public policy and political science, and senior Mike Lefevre, Duke Student Government president, focused on leaders of many different types and characteristics they share. “There are leaders in all sorts of situation,” Keohane said. “Why do we use this same term to describe the head of garden club as
the president of the U.S.? Leaders don’t all have high-powered, omnifarious jobs.” Keohane said she decided to write a book about leadership in 1980 when she accepted the post as president of Wellesley College, her alma mater. In discussing her work, Keohane described three elements to See keohane on page 3
Despite growth of the University’s long-term investments in the 2010 calendar year, spending for next fiscal year will not substantially increase. The University’s share of the long-term pool of investments, which is managed by the private firm Duke University Management Company, saw 13.3 percent growth in 2010, Vice President of Finance Tim Walsh said. The increase has brought the current valuation of the investments to $6.0 billion, up from June 30 of last year when it was valued at $5.4 billion. Walsh noted that those figures do not include other funds managed within the longterm pool, including those of the Duke University Health System and other agency funds. “From where we started in July 2008, would I have expected two calendar years of [these returns]? No, our models were showing 5 percent, or 8.5 percent,” Executive Vice President Tallman Trask said. “In part that’s because I didn’t want to overestimate before the fact.” Even with the rise, the University is still yet to reach the level it was at before the economic recession. Trask added that the overall annual return since summer 2008
is still negative, standing at about -1 or -1.5 percent, he estimated. “It’s better than I expected, but we’re not back to where we were,” Trask said. Because not all universities have released their 2010 numbers, Duke has not been able to compare itself to other institutions, Walsh said. He added that the most recent numbers should put Duke in the top quartile as usual. Starting next fiscal year, some faculty members will benefit from the economic gains. In the Fall, President Richard Brodhead announced plans for a “modest salary increase”—a measure that Duke has not taken in two years— beginning next fiscal year. Trask said the positive growth last year reaffirmed the upcoming salary increases, although he noted that it is still “too early to tell” their exact size. The increases will likely be lower than they were prior to the economic recession, he noted. “[Increases before the recession] were in the 2, 3, 4 [percent] range, this will be in the 2, 3 [percent] range, I would guess,” he said. “We have a lot of work to do.... We are working hard to figure out how to pay for [the salary increases] again.” See endowment on page 4
Athletics campaign 76 DUKE NCSU 52 to fund stadium upgrades, additions Duke cruises to win over State from Staff Reports
by Vignesh Nathan
Duke Athletics is embarking on an effort to raise $100 million to expand Wallace Wade and renovate Cameron Indoor Stadium. The fundraising is expected to begin in the Spring and last three to five years, the Triangle Business Journal reported. The majority of money raised will go toward building a new press box and increasing seating in Wallace Wade Stadium by 10,000—including the addition of 24 suites and 700 to 800 club seats. Planned improvements to Cameron Indoor Stadium—which include expanding its lobby, constructing an upstairs club area and adding more concessions and rest rooms—will account for one-
There were only six competitive minutes in No. 5 Duke’s 76-52 rout of N.C. State Saturday—the first six. A scrappy Wolfpack squad, missing star freshman C.J. Leslie for a “violation of team rules,” managed to keep up with the Blue Devils, only down 10-8. But four more minutes passed, and things quickly went downhill for N.C. State (12-11, 2-7 in the ACC). The Blue Devils (21-2, 8-1) went on a 17-2 run and had already built a seemingly insurmountable lead over the Wolfpack, 27-10, with 30 minutes of regulation still remaining. It was then that Nolan Smith dealt the signature blow of the game.
the chronicle
THE CHRONICLE
See m. basketball on SPORTSWRAP page 4
zachary tracer/The Chronicle
The Blue Devils went into halftime with a 29-point lead, and not even a subpar second half could stop them from cruising to an easy win.
See athletics on page 4
dukechronicle.com Visit our website to see video taken at Personal Checks
ONTHERECORD
“Instead of honoring people for what they are, we hold people and memories to impossible standards...”
—Junior Harrison Lee in “Insufficient memory.” See column page 7
Women’s basketball to take on the Tar Heels , Sportswrap Page 2