Trir? 1
Lml I II
■
I %
WEDNESDAY, MARCH 29. 2000
I I I ■
■
I
■
J
I
LaJ
CIRCULATION 15.000
|
I I y
f* |_J i I 1
j JI
J
THE INDEPENDENT DAILY AT DUKE UNIVERSITY
rts s«.=i.»«
The women's lacrosse team travels to Chapel Hill tonight to take on archrival North Carolina in a crucial ACC game. See page 19 WWW.CHRONICLE.OUKE.EDU
atfH I
VOL. 95, NO. 121
endowment soars Several selective Economy booms, By cashing in on the hot economy, Duke’s has become one of the nation’s top endowments this year. By Jason Wagner groups fail review
At
slightly over nine the United years, States’ current economic expansion is the longest in the nation’s history. With a combination of record low unemployment, low inflation and high productivity, it continues to show no sign of slowing in the near future. What happens to the University when the market heats up? Like many other large institutions, the University feels the benefit, as well as few unique problems, that come with an unusually I booming market. V endowThe ment and The Campaign for Duke have experienced the most
ful for it when we have the** wind at our backs, and we are p| under no delusions that this '’WML market is normal,” he said. One of the phenomena making the past decade and the first few months of the current A|| one so prosperous has been the emergence of high-tech and Internet companies as powerhouses in the stock market The University’s endowment has been marching in step to the trend. (Jr McDonald said at Duke Uni-
dramatic
off Linux, eßay, v Red Hat and Yahoo asyfk some of the stocks the company invested in before they went public, it’s easy to see why the University’s endowment was one of the top performing endowment in tf US. last year. “These wei stocks that could be bought fi 30 cents or 40 cents that ma go public at $l5 and end up $l3O or $140,” he said. He added, however, that in
gains,
which fund raisers often attribute to a rise in the stock market and the general health of the economy. Eugene McDonald, outgoing president of the company that oversees the University's endowment, said the University’s investments have resulted in returns of over 20 percent or more for years and is yielding a whopping 40 percent this year. But he is also aware that the hot economy could cool down at any time. “We want to be grate-
srsity Manage-
mt
Compan
long been ner in capitals’ll
lerships ing
with
*
high-tech
»anies. ,d as McDona* j
on page
is unclear, requirements are ambiguous and standards are not uniformly enforced. ByAMBIKA KUMAR The Chronicle
Six out ofthe University’s 28 selective living groups were recently put on probation for failing the annual review conducted by the Office of Student Development, and the results have sparked renewed criticism and debate about the way the administration assesses selective living groups.
Just before spring break, Delta Sigma Phi, Maxwell House, Old House CC, Phi Kappa Psi, Sigma Alpha Epsilon and Sigma Nu were all put on probation by the Annual Review Committee. The six groups on probation must meet with committee chair Benjamin Ward and create a contract stating measures they will take to improve their standing. “If the group fails to meet the conditions of probation, we recommend that that group be dissolved,” said Ward, associate dean for residential life. However, no groups have been dissolved during the five years the review has existed. But Ward added, “Our purpose is not to dissolve but to strengthen them and to make them the best they can be.”
Ward said the committee suggested improvements in'various areas to at least a dozen additional groups. The annual review requires living groups to compile semesterly reports on their activities in seven categories: faculty interaction, student-led programming, cultural programming, educational programming, community service, social interaction and a new category added this year, citizenship. The review was designed to ensure that the groups—which enjoy prime housing on West Campus—are giving back to the community. “The purpose of [the annual review] is to remind seSee ANNUAL REVIEW on page 10 P~
'
See ENDOWMENT
m
� Many students claim the review process
9
Indigo Girls commit for Last Day of Classes bash By JAIME LEVY The Chronicle
If you don’t go to this year’s Last Day of Classes concert then la, la, 1a... “Shame on You.” The Indigo Girls verbally committed Monday to play at the April 26 Last Day of Classes celebration. The two-woman folk band, which is passing through Durham before concerts in Asheville, N.C. and Myrtle Beach, S C., will perform on the Cambridge Inn Quadrangle, Campus Council
Although the Indigo Girls have a strong fan base among college-aged women, many students were concerned that the group will not appeal to a broad audience. “I think for an event like the Last Day of Classes, when a concert is free and you’re looking for something to unite the whole student body, you should concentrate on groups that have an eclectic fan base,” said Trinity sophomore Brian Washington.
representatives announced.
Indeed, some students said they would not attend the concert—dety sophomore Vik Devisetty, chair of spite the fact that it’s a free event. the Last Day of Classes celebration. “I’m not happy,” said Trinity seIt’s a good opportunity to play at a nior Gianna Moreno. “I don’t particcollege, to get their music out.” ularly like the Indigo Girls. They’re Some students were excited that too folky... It’ll be fun regardless, they could listen to the harmonizing but I probably won’t stick around huo of Amy Ray and Emily Saliers for the show.” strum their guitars on the quad, but Unlike last year’s celebration others were skeptical that the group which included performances from would attract a homogenous crowd. Vertical Horizon, Naughty By NaI definitely like them—l’ll defiture and Fastball—the Indigo Girls NORBERT BCHUHEIVTHE CHRONICLE ndely g0...,” said Leah Trabich, a bring only their opening act. Detrinity sophomore. “I think all of visetty said he will not know who THE INDIGO GIRLS, Amy Ray, left, and Emily Sailers, will bring their folky rock to the Cambridge Inn Quadmy friends See INDIGO GIRLS on page 8 P' rangle for the Last Day of Classes extravaganza. will go.”
“This is on their way,” said Trini-
—
Friends mourn long-time employee, page 6 � Performance artist discusses ms craft, page 8