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Volume 110, Issue 62
UNC relatively stable
in uncertain markets
By John Frank
Assistant University Editor
Mark Yusko has been on the edge of his
seat for more than a year now.
As UNC’s chief investment officer, han
dling the school’s $1 billion endowment for
student scholarships and faculty professor
ships, a negative-growth year and a topsy
turvy summer stock market have made him a
But with fiscal year 2001-02 reports in
hand, Yusko can relax.
While the overall market benchmarks
dropped 10.4 percent, UNC pulled slightly
better than even with a 0.03 percent gain.
“We had a very strong performance com
pared to the benchmark,” Yusko said. “We
outperformed the market.”
The earnings don’t seem significant, but
Yusko claimed a victory compared to institu
tions that lost substantial amounts of money.
For instance, the University of California
system lost $145 million of its $5.1 billion
endowment on Enron investments when the
energy-trading company went bankrupt this
Yusko said that if UNC had invested most
of its money in equity funds such as stocks,
similar to what the UC system did, it would
have lost as much as $l7O million.
University investors had limited amounts
of stock and bonds in Enron and the other two
major companies to declare bankruptcy in
recent months - World Com and Adelphia.
Investors made up money lost in dimin
ished bond values by buying into the bank
rupt companies in the hopes that they will
rebound higher after they come out of
Chapter 11, Yusko said.
Instead of investing most of the endow
ment money in the stock market, the
University believes in diversifying its funds
among many different assets to reduce risk,
The University’s endowment is split into
1,700 different accounts and is directed by
more than 150 managers.
“With diversification we always underper
form the best but outperform the worst,”
See INVESTING, Page 2
O.C. SAT Scores
Drop 32 Points
City schools see gains
for minority students
The last academic year was one of both
achievement arid frustration concerning SAT
scores for school districts in Orange County.
Chapel Hill-Carrboro City Schools saw a 45-
point increase in the scores of black students,
raising the average to 988. The increase has
been called a major step forward in the district’s
battle against the minority achievement gap.
But just north of the southern Orange County
district, Orange County Schools saw their over
all scores decrease by 32 points, down from
1036 the year before. The drop follows a major
increase in the 2000-01 school year, when the
district saw a 42 point overall increase in scores.
Orange High School Principal Jeff Dishmon
said he can’t pinpoint the difference between
this year and last. “Well, more students took
the test this year, so that could have an effect,”
he said. “But I really just don’t know.”
Dishmon said Orange High School is tak
ing steps to combat the problem.
“We’re offering SAT remediation courses,
open for all students,” he said. “The courses
are voluntary, and we should be offering them
See SAT, Page 2
The human race has one really effective weapon, and that is laughter.
The Daily Tar Heel is seeking staffers for the
2002-03 academic year. Pick up an application
in Suite 104 of the Student Union.
“It’s a culmination of a very long 10 days , and everyone’s excited about seeing who the new people are. ”
Jay AnhoßN, Director of Greek Affairs
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A pledge celebrates with friends during Bid Day on Franklin Street on Wednesday afternoon. Police closed Franklin
in anticipation of the 380 girls running to their sorority houses after getting their bids in front of South Building.
Bids, Smiles, Sisterhood
Bid Day saw 380 UNC girls find new homes and friends in 1 of 10 sororities
By Eshanthi Ranasinghe
Three hundred and eighty girls - screaming,
crying, jumping, hugging - came barreling through
campus at full speed at 6:25 p.m. Wednesday.
Police officers and pedestrians remained
motionless as the stampede crossed Franklin
Street, where it split and filtered to the 10 soror
ity houses awaiting their arrival.
“I’m so psyched to be here,” one of the girls
shouted as she ran to join her friends.
It was Bid Day, the moment Panhellenic soror
ity rushees were waiting for to find out which
house they got into. Bidding is an emotional time
for rushees and sorority members, said Jay
Anhom, director of Greek affairs. “It’s a culmina
tion of a very long 10 days, and everyone’s excit
ed about seeing who the new people are,” he said.
The girls gathered outside of South Building at
about 6 p.m., trading in their original location of
Gerrard Hall for fresh air and curious onlookers.
The rushees whispered through announce
ments and awards, waiting for the envelopes that
would tell them which sorority they were in. “I’m
Tenure Policies Prompt Lawsuit; Reviews
By Emma Burgin
Assistant State & National Editor
All eyes are on the University of South Florida as a tenured professor
suspected of terrorist ties fights a lawsuit filed by the university calling for
Although not prompted by the USF controversy, UNC officials also are
looking at matters of tenure. A
task force was formed last year to
examine the University’s tenure
process and what it means to
The USF Board of Trustees is
suing Sami Al-Arian, a tenured
computer science professor, for
disrupting the university envi
ronment by allegedly having ter
The university, located in
Tampa, Fla., put Al-Arian on
paid leave after he appeared on
Fox News’ “The O’Reilly Factor”
shortly after the Sept. 11 terrorist
attacks. The video captured Al-
Arian shouting in Arabic what
some officials believe to be anti-
USF also has accused Al-
Serving the students and the University community since 1893
Thursday, August 29, 2002
very enthusiastic at the moment,” said freshman
Bronwyn Duffield. “I’ve waited 10 days for this.”
Once the girls ripped open the envelopes,
they took to the streets, screaming all the way
down to Franklin Street, where their new sisters
waited with house shirts, confetti and silly string.
Amid the excitement, dozens of onlookers gath
ered to watch the festivities, some by chance and
many in eager anticipation. “It’s like an annual tra
dition for Carolina fellas to come out here and line
up the street to watch the pride of Carolina run
through,” said junior Bradley Bennett
Others, however, were not so receptive to the
rushing. “It seems very childish to me - it’s over
excessive,” said freshman Michael Causey. “It’s
not the most diverse crowd to hang out with.”
Recruitment for the houses began with the
start of classes last week. Potential rushees were
greeted at the Recruitment Kickoff, where rep
resentatives from each of the sororities recited
the cheers of each Panhellenic house on campus.
The girls later visited each of the houses to
meet the sisters and find out about their respec
tive sororities, Anhom said. “The reason it’s so
structured is so that they can see all the groups,”
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SOURCE: KACUI.TY COUNCIL
Volleyball seeks 4th
straight ACC title.
See Page 9
Anhom said. “Slowly but surely, the women and
the houses narrow down their choices.”
The night before Bid Day, the rushees make a
list of their top three houses, which are later
matched up with lists of preferred rushees sup
plied by each of the sororities. Each girl who
turns in a list with three choices is ensured mem
bership to one of the sororities, Anhom said.
“At Carolina we have guaranteed placement,”
Anhom said. “If they make it to Bid Night and
they list all three, they’re guaranteed a spot.”
When rush began, 512 girls expressed interest
in joining a house. After 10 days of events and
meetings, 380 remained.
But Anhom said the drop was due mainly to
withdrawals made by students not able to pay
the fees rather than being cut from the rush.
For the girls who follow rush the whole way
through, however, the decision can be life
changing. “There’s so much pressure,” one
rushee said, “and finally to get a good group of
sisters... it’s the best experience of my life.”
The University Editor can be reached at
Arian of using university funds for terrorist activities.
The lawsuit, filed with the Florida 13th Judicial Court in Tampa, includes
a letter terminating Al-Arian’s employment. The lawsuit is aimed at deter
mining whether firing Al-Arian is in violation of his First Amendment rights.
Ruth Flower, director of media relations for the American Association
of University Professors, said USF is not following general procedure for
removing a tenured professor. “The tenure requirements work just fine,”
Today: T-Storms; H 81, L 66
Friday: Showers; H 83, L 65
Saturday: Cloudy; H 89, L 64
Flower said. “But this time, it was
the process that didn’t work.”
USF trustees asked USF
President Judy Genshaft to sue Al-
Arian, and she acted on their request
without consulting other faculty
members, Flower said, adding that a
professor’s colleagues typically judge
if there are grounds for firing.
“We are trying to point out that
this is exactly what tenure is sup
posed to be against,” Flower
said. “We were so surprised
that a university would take a
faculty member to court.
“(The situation) is a terrible
thing for academic freedom. If
any professor now says any
thing controversial, they’ll know
See TENURE, Page 2
Day will include a
convocation and vigil
As the anniversary of the Sept. 11 terrorist
attacks approaches, the University communi
ty has finalized plans for an entire day of
In addition to a gathering in front of South
Building, a comprehensive volunteer fair and
candlelight vigil are among the events slated
for Sept. 11.
UNC officials have organized a noon con
vocation in Polk Place, revisiting the site
where more than 10,000 people came togeth
er Sept. 12 in reflection and mourning.
Organizers say the event will center on
remembering the six UNC alumni who died
in the two World Trade Center Towers.
Chancellor James Moeser will address
those attending the midday convocation, dur
ing which the bell in South Building will toll
for each of the six alumni.
Throughout the afternoon, about 75 volun
teer organizations from both the University
and the surrounding community will partici
pate in a volunteer fair.
Sponsored by the Carolina Center for
Public Service, the Public Service and
Advocacy Committee of student government,
the Chapel Hill-Carrboro Chamber of
Commerce and Volunteer Orange!, the fair
also will be held in Polk Place from 11 a.m. to
UNC Health Care will hold a symposium
on terrorism preparedness earlier in the day.
Donald Trunkey, chairman of surgery at
Oregon Health Sciences University, will give
the keynote speech at the event, which begins
at 7:30 a.m. in the Fourth Floor Clinic
Auditorium of the Old Clinic.
Later that evening, the UNC Campus Y is
hosting an interfaith candlelight vigil in the
Featuring numerous student organizations’
music and poetry, the vigil will be held at 8
At last year’s gathering at Polk Place - held
the day after the terrorist attacks - speakers
included then-Student Body President Justin
Young; Raj Panjabi, then-Campus Y co-pres
ident; Richard Kohn, chairman of the cur
riculum in peace, war and defense; Sue
Kitchen, then-vice chancellor for student
affairs; and Rev. Steve Stanley of Chapel of
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DTH FILE PHOTO
Students and faculty gather on Polk
Place on Sept. 12,2001, for a ceremony
memorializing the Sept. 11 victims.