101513 Chicago Maroon

Page 1

TUESDAY • OCTOBER 15, 2013

CHICAGOMAROON.COM

ISSUE 4 • VOLUME 125

THE STUDENT NEWSPAPER OF THE UNIVERSITY OF CHICAGO SINCE 1892

Academic teams frustrated with funding Sarah Miller News Staff

University of Chicago professors Eugene Fama (left) and Lars Peter Hansen received the 2013 Nobel Prize in Economics yesterday morning. PETER TANG | THE CHICAGO MAROON

Econ professors nab Nobel Prize Marina Fang News Editor At 5 a.m. Monday morning , Professor Eugene Fama (M.B.A. ’63, Ph.D. ’64) was preparing for the day when he got a

phone call from Sweden. A couple hours later, the newly-minted Nobel laureate was where he would be on any other day, teaching his Theory of Financial Decisions class at the Booth School of

Business. Fama and Lars Peter Hansen, both University economics professors, won the 2013 Nobel Prize in Economics for their research on the predictability of asset

prices Monday. They share the award with Robert Shiller of Yale University. Fama and Hansen are the 27th and 28th University affiliates to NOBEL continued on page 2

Every spring, a committee of representatives from the five biggest academic teams on campus sit down at the negotiating table and vie for money. Student Government (SG) provides the committee—called the Council of Academic Teams (CAT), which is made up of Debate, Mock Trial, Model UN, College Bowl, and Chess Club—with an overall funding level, but largely leaves it up to the teams themselves to decide individual allocation. No one can leave until a decision is reached. Tensions over the process have become exacerbated in recent years as steadily increasing membership in the RSOs and stagnant SG funding have placed tighter financial constraints on members of the committee. This year’s process ended with Mock Trial formally and unsuccessfully appealing the council’s decision to the SG Assembly. “Sometimes we debate

diplomatically, sometimes angrily,” Mock Trial vice president of finance and thirdyear Peter Tang said. “An RSO will [say they] deserve this amount of money or need this amount of money to cover travel costs, while the other RSOs are saying they are already getting too much. Very slowly, we make compromises.” Tang is not a fan of the process. “[CAT] is a big mess; it’s supposed to have structure, but it usually collapses [at the allocations meeting],” he said. Tang said that because the members of CAT are responsible for dividing the allocation among themselves, they are always vying to increase their budgets at the expense of other CAT members. The process starts in earlyto mid-May, when each RSO in CAT submits a budget for auditing to the council about a week before the annual allocations meeting. During the meetings, a representative from each RSO explains their budget CAT continued on page 3

Admin Building named New hub to dish out $20 mil for startups for past Univ. president Linda Qiu News Editor

Alex Hays Associate News Editor The Administration Building now bears the name of the University president famously locked out of it during the turbulent student protests of the 1960s. The University rededicated the Admin Building at 5801 South Ellis

Avenue after former Law School Dean, Provost, and University President Edward Levi (A.B. ’32, J.D. ’35) in a special ceremony Monday evening. Levi, who also graduated from the Laboratory Schools, has a long history at UChicago, starting from when his grandfather was appointed a faculty member at the Divinity School in 1892.

A UChicago entrepreneurial hub opening in late 2014 will hatch ideas into fledgling businesses, University officials announced last Friday. The new Chicago Innovation

Exchange (CIE), located on East 53rd Street and South Harper Avenue, will provide workspace, collaborative opportunities, and financial support for entrepreneurs across the University and the city. “[The CIE] will create a hub for University faculty, students, alumni,

and researchers as well as external businesses who want to be located near all this talent and energy. The exchange will give them access to programming and expertise, venture capital and, perhaps most importantly, access to each other,” INNOVATION continued on page 3

ADMIN continued on page 3

Two fashion boutiques open on 53rd Street Andrew Fry Maroon Contributor Hyde Park is about to get a lot more fashionable. In the past month, the neighborhood welcomed clothing boutiques Independence and Sir & Madame into the

Harper Court and 53rd Street development. Independence, which will be located in Harper Court, is the brainchild of owner and founder George Vlagos. Vlagos, the son of a Greek immigrant cobbler, originally conceived of BOUTIQUE continued on page 2

Mayor Rahm Emanuel discusses the beneficial impact the Chicago Innovation Exchange will have on Hyde Park and the city as a whole. JAMIE MANLEY | THE CHICAGO MAROON

IN VIEWPOINTS

IN ARTS

IN SPORTS

In the face of Goliath » Page 4

On TV in Norway: So you think you can watch paint dry? » Page 8

First seed Tang finishes third at Small College Championships » Back Page

At Riviera, Impala can’t be tamed »

Athletes of the week » Page 11

Letter: Institutionalizing Input »

Page 6

Page 9


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.