2
Wednesday, April 18, 2001
Merged Bank to Have Different Focus
The Associated Press
RALEIGH - The combined First
Union-Wachovia may look like a bank
with subsidiaries offering other financial
services, but the company’s bottom line
will reflect a diminishing role for bank
ing to millions of average consumers.
The merged company’s future con
tinues steering away from the tradition
al picture of a retail banker - turning
deposits from checking and savings
accounts into loans - to a richer future
from fees generated by making and
managing investments.
“It paints a picture of a contempo
rary, modem financial services compa
ny,” Tony Plath, a finance professor at
UNC-Charlotte, said Tuesday.
The merged company announced
Monday would have securities divisions
managing nearly $320 billion in mutu
al fund and other assets compared to
REPEATS
From Page 1
pie we see are repeat offenders," he said.
Behind bars, the ratio is even higher.
Of 172 misdemeanants and felons
who were convicted in Orange County
since October 1994 and who exited
North Carolina prisons in the year prior
to March 1,2001, more than 80 percent
are repeat offenders.
In Durham County, the figure is just
under 85 percent
A Familiar Story
After almost four years of patrolling
the west Chapel Hill community of
Northside, Officer Alan Philley of the
Chapel Hill Police Department said he
saw little change in repeaters’ behavior.
“For most of them, it’s the same thing
over and over. If they break into cars,
they break into cars. If they break into
residences, they break into residences.”
In addition to residential and car
break-ins, repeat offenders are likely to
be arrested for shoplifting, larceny,
forgery, credit card fraud or dealing
drugs, Philley said.
A case in point is that of Glenton
Horton, 35, of Chapel Hill. Horton went
to prison in February 1997 on charges of
breaking and entering and larceny.
He was released four months later.
Piwer
Brunches
&
Power
Seech
~the
UOGURTc{I|
T pump
Downtown Chapel Hill
106 W. Franklin St.
(next to He's Not Here)
North Durham Northgate mall
(next to Carousel)
DATE TODAY, Wednesday, April 18 - Saturday, April 21 I
TIME 10am-3pm weekdays, 11 am-2pm on Saturday
PLACE UNC Student Stores . ,> r
I 1-800-952-7002 Student Stores ■
I Local Artcarved Office: 919-968-7894 • Special Payment Picms Available. Ml Eg *' ~ carol,™
$lB3 billion in total deposits.
In addition, Wachovia’s Offitbank
subsidiary manages sls billion in assets
held by wealthy clients around the
world, each investing $lO million or
more.
The banks estimate their retail bank
ing operations will generate 46 percent
of their profits this year, while brokerage
and wealth management services make
up 21 percent.
That’s expected to change as the
banks focus on growth on brokerage
and wealth-management fees, close up
to 300 bank branches and sell off up to
$2 billion in deposits.
The deposit divestiture may be
required to keep the two North Carolina
banks from controlling too much of the
market in some areas.
Once the merger is smoothed out in
three to five years, retail banking prof
its are expected to drop to about 35 per
Since that time, he has been arrested by
Chapel Hill police more than 15 times on
charges including second-degree trespass,
misdemeanor larceny and- most recent
ly - possession of thug paraphernalia.
Horton’s most recent charge was dis
missed by the district attorney.
Horton was one of six people identi
fied by Chapel Hill police as sample
repeat offenders.
The six offenders are not Chapel Hill’s
worst repeaters. “They’re just a subset,”
said police spokeswoman Jane Cousins.
A Deeply-Rooted Problem
Both Woodall and Philley said most
repeat offender crime can be traced to
substance abuse. “There are some peo
ple who are just plain mean, but I would
guess if you took drugs and alcohol out
of the equation, you would eliminate 75
percent of the crime,” Woodall said.
He said in addition to substance
abuse, other factors such as mental ill
ness contribute to the behavior of some
repeat offenders.
Philley said he believed many repeat
offenders were caught in a cycle of bad
behavior. “For a lot of these repeat
offenders, it’s what they’ve done. It may
be what they learned growing up, what
they’ve been around their entire lives,”
he said. “Once they’ve committed these
crimes one, two, three times, they have
a felony on their record, and it would
Campus Calendar
Today
noon - The Sonja H. Stone Black
Cultural Center presents Around the
Circle: “Exploring the Relationship
Between Africans and African-
Americans.”
How can relationships between
Africans and African-Americans be
improved? What are the stereotypes
that exist? What has been the influence
Join GSPF for an
END OF THE YEAR
ICE CREAM SOCIAL
GSPF will provide
FREE Ice Cream*
from “The Inside Scoop”
to Graduate and Professional Students
(you must bring your student ID)
on Wednesday, April 18,2001
from 12:30 to 1:30
in front of the Bell Tower**
*While supplies last! Only 250 scoops will be served, first come first served.
**ln case of rain, we will serve from the awning in front of the
Undergraduate Library
From Page One
cent to 40 percent of the bottom line.
The new bank expects to reap 30 per
cent to 35 percent of its profits from bro
kerage and wealth-management ser
vices, according to a merger statement
filed with the U.S. Securities and
Exchange Commission.
The new Wachovia also has set lower
profit goals from consumer banking ser
vices - 7 percent to 9 percent compared
to 15 percent from brokerage and
wealth management services and 10 per
cent from lending and other services to
corporations.
Even a 9 percent growth rate for retail
banking would mean the new Wachovia
was stealing customers from other
banks, Plath said.
The industry norm is about a 3 per
cent increase in deposits per year and a
5 percent annual increase in loans, he
said.
Plath said, “Old banking is dying."
probably hamper their getting a job.”
A Challenge to the Courts
The cycle of criminal behavior iden
tified by Philley and Woodall strains the
court system.
Three Orange County judges
attempted to address problems associat
ed with repeat offenders last year when
they signed a letter to the N.C. General
Assembly requesting tougher sentencing
guidelines for individuals convicted of
more than 10 misdemeanor crimes.
“The response of the Sentencing
Commission was an expression of con
cern as to how this increased prison pop
ulation would be housed,” said Orange
County District Court Judge Charles
Anderson, one of the letter’s signatories.
Anderson said concerns about prison
overpopulation were just one of the
ways in which resource allocation
impacted the criminal justice system’s
ability to deal with repeat offenders.
“It’s a resource issue in terms of the
number of law enforcement officers,
court personnel, district attorneys and
judges your county or state wants to pay
for,” he said.
But some observers believe rehabili
tation, not more punishment options, is
the best solution.
The Possibility of Rehabilitation
In an effort to unburden the courts
of African-American popular culture on
African society? Join us to discuss these
topics.
noon - Professor Patrick O’Neill of
the Department of English will present
a lunchtime talk on “The Present State
of Celtic Studies” in Toy Lounge of
Dey Hall. Bring lunch and join us!
6 p.m. - The Wesley Foundation
will have dinner, followed by a senior
worship service.
7 p.m. - The Management and
GENOME PROJECT
From Page 1
dent from New York, works with two
other graduate students in one of
Magnuson’s labs. He agreed that genom
ic research will have a significant impact
on future health care. “It’s a basic under
standing of how we work - how humans
are put together on a molecular level,”
he said. “(It) can certainly lead to future
questions - addressing problems that
occur within a population and trying to
determine causes and treatments.”
Mager said his own research work cen
ters on human development “I’m look
ing at one gene we’ve identified to be
involved with the way mammals (such as
mice) develop,” he said. “In the absence
of this gene, what goes wrong, and what
can I learn about other genes from that?”
He said genetic research with mice
can be applied to humans because both
fetuses develop in a similar manner.
Funding for UNC’s genetic research
was initiated in June 2000 by a $2.6 mil
lion grant from the Howard Hughes
and corrections systems and help
offenders who might benefit from treat
ment, Orange County maintains one
court that differs from the normal trial
court and has another planned.
In community resource court, the dis
trict attorney’s office could defer prosecu
tion of individuals whose crimes stem
from mental illness or substance abuse in
exchange for an agreement by the offend
er to undergo treatment that might include
counseling or drug and alcohol screening.
Treatment costs are paid either by pri
vate insurance, Medicaid or the individ
ual, who is charged on a sliding scale
based on income, said D.C. Rhyne, a
case manager with the Orange-Person-
Chatham Foundation for Mental Health.
If the offender sticks to the program,
charges could be dismissed.
Anthony M. Purefoy, 39, is a repeat
offender who was sent to community
resource court
Purefoy went to prison in July 1999
on two charges of breaking and entering.
He left Orange County Correctional
Institute less than three months later.
In February 2001, Purefoy, whose
record includes more than 20 arrests on
both misdemeanor and felony charges,
was arrested again on a charge of mis
demeanor breaking and entering.
In March, Purefoy metjudge Patricia
DeVine in the community court.
DeVine warned him that he must
Society Student Association will hold
its last meeting of the year in Union 213.
Anyone interested in becoming an
officer for next year should attend.
7 p.m. -The Sangam Executive
Board Elections will take place in 209
Manning Hall. Come see what’s happen
ing in the South Asian community.
7 p.m. - Come express your views
on the student judicial system at an
Honor Court forum in the Cobb
Residence Hall lobby. Free pizza!
7:30 p.m. -Choice USA and
Department of Women’s Studies will
sponsor the discussion “Reproductive
Choice: The Facts Behind the
Headlines,” in 209 Manning Hall.
Panelists will include UNC faculty as
well as legal and medical professionals
from the community.
Discussion will focus on the global gag
rule, comprehensive sex education and
mifepristone (RU-486).
8 p.m. - Mary T. Boatwright of
Duke University will lecture on
“Harmonious Partners: Husbands
Do you U/S/C atßCetics, meeting
exciting peopCc, and Raving fun?
Get involved with the
CAA
Join the CAA’s Homecoming Committee
and become a part of UNC history!
Sign up in the CAA office Suite Bin the Union or drop by
one of our info sessions: Wednesday, April 18 and Thursday,
April 19,2nd floor lounge in the Union, 4-6 PM
Medical Institute, a privately funded phil
anthropic organization. The recently
announced funds consist of private dona
tions -most notably a $25 million
anonymous gift -and public funding
such as money from the $3.1 billion high
er education bond passed in November.
Magnuson’s research, and that of the
department, will soon be aided with a
new facility partially funded by the
Howard Hughes grant. The Human
Biomolecular Building, on which con
struction started last December, will be
located on South Columbia Road next to
the Neuroscience Building. Construction
is slated to be finished byjanuary 2003.
Marzluff praises the progress of such an
ambitious project at a relatively early date.
“Progress has been excellent,” he said.
Mager echoed MarzlufFs sentiments,
emphasizing the future consequences of
UNC’s genetic research. “With the gene
being sequenced, we have tools that we
never had before,” he said. “It’s a profound
difference in how we approach our work.”
The University Editor can be reached
at udesk@unc.edu.
meet the court’s requirement that he
undergo drug and alcohol screening and
return to court in April, or he would end
up back behind bars.
Purefoy attended his April court date
and is scheduled for another appearance
on May 9. The charges against him
eventually could be dismissed.
In addition to community resource
court, the county also has planned a pilot
program to address the link between
criminal behavior and substance abuse,
said Timothy Cole, an assistant public
defender in Orange County.
Cole said the court, known as drag
court, was slated to become active later
this year.
Although some observers question the
long-term effectiveness of special court
programs, others say they are a crucial
element of the criminal justice system.
“Prison is a lot of things, but it’s not
rehabilitation,” said Glen Veit, a
Hillsborough-based attorney who some
times represents offenders in communi
ty resource court.
He said questions of the long-term
effectiveness of treatment-oriented
courts should not deter the county from
offering them.
“It’s not just a good thing to do - it’s
the only thing that makes any sense.”
The City Editor can be reached
at citydesk@unc.edu.
and Wives on Tombstones From
Rome’s Northeastern Frontier
(Pannonia)” in 039 Graham Memorial.
The event is free & open to the pub
lic.
Thursday
7 p.m. - The Campaign to End the
Death Penalty will hold “Close to
Death,” a forum on crime, punish
ment and the death penalty.
The event features Darby Tillis, for
mer death-row inmate who was later
proven innocent and released; Rose
Clark, sister of N.C. death-row inmate;
and the sister of a murder victim.
The forum will be held in 05
Mitchell Hall and is free and open to
the public.
lailg uiar Urrl
Wednesday, April 18,2001
Volume 109, Issue 33
RO. Box 3257. Chapel Hill, NC 27515
Matt Dees, Editor, 962-4086
Advertising & Business, 962-1163
News, Features, Sports, 962-0245
5-Ijp laxly ®ar Rrri
RACIALS
From Page 1
The data shows that from Jan. 1,
2000, to Jan. 31, 2001, black drivers
stopped by the N.C. Highway Patrol
were searched almost twice as often as
were white drivers.
But this data is not available at the
local level because the statute does not
include municipal or county law
enforcement agencies.
The Chapel Hill and Carrboro Police
Departments and Orange County
Sheriff’s Department, for example, keep
statistics only about citations.
All information about stops made by
these agencies is processed through the
communications division of Orange
County Emergency Management in
Hillsborough, but that information does
not necessarily include detailed data
about the stop, said Gwen Snowden, the
agency’s deputy director.
“Anytime (the police) do a traffic
stop, they call into us,” she said. “All we
would get is the license number and
location, and if the officer happened to
say that it was a white male or a black
male, we would get that as well.”
Snowden said officers did not have to
give the reason for the stop.
While proponents of S.B. 147 say
information about stops is important to
the fight against profiling, some local law
enforcement officers say the bill might be
unnecessary and counterproductive.
“Don’t get me wrong, if there is a
perception of racial profiling, we need
to do everything we can to investigate
and alleviate peoples’ concerns,” said
Carrboro police Capt. John Butler. “But
we’ve already done studies on this in
our department, and it’s pretty balanced
in terms of who’s getting cited.”
Butler said he was not familiar with
the bill’s specific provisions, but he
feared the bill could negatively affect
both the public’s perception of the
police and the job done by officers.
“The only thing it’s going to do is,
even if we only have to give a warning
we’re going to have to tie people up
while we write it up the information,” he
said. “If you’ve got lazy police officers
which, thank God, we don’t - it’s going
to keep them from stopping people.”
But the issue of racial profiling is too
important to be disregarded for conve
nience, said Alan McSurely, a Chapel
Hill-based civil rights attorney.
“Ask any black person; they don’t just
suspect that racial profiling is going on,
they know it,” he said. “It’s happened to
their friends. It’s happened to their
mothers, fathers, sons and daughters.”
McSurely and others say passing S.B.
147 is just the one step toward docu
menting the practice of profiling.
Matt Zingraff, associate dean for
research in N.C. State University’s
College of Humanities and Social
Sciences, researches racial profiling in
North Carolina.
He said traffic stops were not the only
stops potentially involving racial profil
ing.
“Walking stops are detentions, too,”
he said. “There are fewer cases where
people are contesting their detentions
and searches when they’re walking.
“There’s a whole world of racial pro
filing going on that’s not being explored.”
The City Editor can be reached
at citydesk@unc.edu.
ELECTION
From Page 1
have to get students in their district to
vote for them as a write-in candidate.
Tuchmayer said students can find out
more about the open seats by asking
Congress members who will be sitting
in the Pit beginning Friday. “The pur
pose (of the Pit sit) is two-fold,” he said.
“We want to find out from students what
their interests are and let students know
about the election.”
And Student Body Vice President
Rudy Kleysteuber said student govern
ment will continue holding special elec
tions until they get the congressional
seats filled. “If we don’t get enough peo
ple, we’ll just do it every 30 days for the
rest of the year.”
The University Editor can be reached
at udesk@unc.edu.