VOLUME 113, ISSUE 121
CAMPUS DIVERSIFIES PORTFOLIO
BY STEPHANIE NEWTON
STAFF WRITER
While Franklin Street has come
to define the University’s ambi
ence, another well-known thor
oughfare is sharing the spotlight.
It’s called Wall Street.
As institutions of higher learn
ing across the country begin to
diversify their investment portfo
lios through a wide array of asset
allocation categories, endowments
continually are expanding through
new funding avenues.
In the past ten years UNC’s
investment endowment has
almost tripled, from $541 million
in 1996 to $1.4 billion for fiscal
year 2004-05.
“We expect to earn a higher
rate of return over the 1986 and
Health
services
to see
merger
BY BRIAN HUDSON
UNIVERSITY EDITOR
After an intensive, year-long
review process, administrators
have announced an overhaul of
campus health programs that is
aimed at providing more coordi
nated services for students.
Effective Jan. 1, the University’s
student health, counseling and
health outreach services will
be combined into the Campus
Health Services, administrators
announced Thursday.
The change will allow health
officials to provide more cohe
sion that will result in increased
outreach and development ser
vice, said Margaret Jablonski, vice
chancellor for student affairs.
“Ideally students are going to
experience this as one building,
one service,” she said.
Anew position assistant
vice chancellor for campus health
services will be created to
oversee Student Health Service,
Counseling and Psychological
Services and the Center for
Healthy Student Behaviors.
Previously, each unit reported
to a different person in the stu
dent affairs office.
Administrators have targeted
July 1 as the start date for the new
vice chancellor, said Christopher
Payne, associate vice chancellor for
student affairs. During the interim
Payne will serve in the position.
Administrators opted for a
review of health programs last
January, and during the sum
mer they consulted the American
College Health Association, of
which UNC is a member, for guid
ance.
SEE CAMPUS HEALTH, PAGE 4
LOW ATTENDANCE TURNS UNC BLUE
BY JACOB KARABELL
SENIOR WRITER
The scene seems to repeat itself
year-in and year-out.
The lower section of Carmichael
Auditorium has a smattering of
fans, with some sections mostly
full and others mostly empty.
The upper section consists of
desolate blue bleachers that seem
to yearn for the excitement of an
earlier era when the men’s basket
ball team consistently drew capac
ity crowds.
Noise reverberates when the
pep band plays, but aside from
that, the gym rarely reaches a
high decibel level. Carolina Fever
online I dailvtarheel.com
LOOK OUTWARD Wachovia unveils a
plan to outsource jobs to better efficiency
TWO GROUPS, ONE VISION N.C.
Hillel and GLBT-SA sponsor Friday Shabbat
WON'T WALK OVER YOU Global
GuluWalk held to benefit North Uganda
Serving the students and the University community since 1893
®ffc latlu ®ar Mrcl
1996 portfolios,” said Jon King,
president of UNC Management
Company Inc. “But because of the
diversification, there is less risk of
any one sector of the market creat
ing a catastrophic downturn.”
Managing the UNC-Chapel
Hill Foundation Investment Fund,
the company computes the annu
al payout for endowment funds
based on specific guidelines. The
University’s endowment which
serves to provide a perpetual
source of income includes the
assets of the school and 21 addi
tional related foundations and
associations.
“There is nothing in the portfo
lio now that is over 18 percent,” he
said, referring to the contributions
from different sectors. “We have a
Jk • I I ‘JP ■ M
3V ifiji I I
D.L. Mock of the Durham Police
Department gang unit waves to
\**childen at Wal-mart in the New
Hope Commons shopping center on
Saturday. Twenty officers teamed up with
22 inner-city children from the Salvation
Army Boys and Girls Club of Durham to
Beards, bellies full, santas ready for ho-holidays
'
DTH/SHANE BROGAN
Randy Gibson (left), dressed as Santa Claus, holds Carly Robertson, 8
months, at University Mall on Sunday. Santa is now in malls nationwide.
students periodically fill their sec
tion, but otherwise there are few
sightings of students.
The action on the court, mean
while, contains one of the top
women’s basketball teams in the
country. The Tar Heels remain
the only team in the ACC to have
won a national championship
on a buzzer-beating shot by
Charlotte Smith in 1994 —and
they advanced to the Elite Eight
of the NCAA Tournament last
season before falling to eventual
champion Baylor.
So, why haven’t fans and stu
dents flocked to watch Coach
Sylvia Hatchell’s team?
arts I page 2
HALL OF SWEETS
Memorial Hall opens its stage
to Carolina Ballet's production
of "The Nutcracker," the first
ballet to be put on at the
performing arts landmark.
www.dailytarheel.com
lot more pie slices, but they are all
thinner.”
During the 2004-05 fiscal year
UNC saw a 15.5 percent return on
its $1.4 billion endowment.
The trend mirrors similar suc
cess at other higher institutions
across the country. Rival schools
Duke, Wake Forest and N.C. State
universities saw 18.1,12.3 and 8.15
percent returns, respectively.
Growing from seven invest
ment categories in 1986 to 10 in
2005, UNC’s endowment is seeing
significant shifts away from fixed
income and traditionally low-risk,
low-return investments such as
bonds and cash, King said.
Current targets are more risky
and high-returning options such
as real estate, private equity and a
POLICE ESCORTS
take them Christmas shopping during the
annual Shop With Cops program. Officers
hope that reaching out to children from the
inner city and allowing them to have positive
experiences with police officers will help
deter crime. The department also offers
education programs to help prevent crime.
“I don’t know” Hatchell says. “I’ll
do anything, and I’ve tried about
everything, but I don’t know what
else we can do. I think the Tar Heel
fans and the graduates just have to
embrace our team and get behind
us and support us more.”
Tonight, the Tar Heels will get a
one-night taste of an atmosphere
they would love to bring home.
No. 7 UNC will battle No. 8
Connecticut as part of the Jimmy
V Classic at the Hartford Civic
Center. A sellout of more than
15,000 fans is expected.
In one way, Connecticut has fol
lowed a similar progression of on
court success to North Carolina.
campus I page f>
FESTIVAL OF LIGHTS
N.C. Hillel holds its annual
Hanukkah celebrations
Saturday at the center. The
campus group has held similar
celebrations since 1936.
joint venture for energy and natu
ral resources.
“Five years ago, nobody cared
about energy,” he said. “It was
boring, it was volatile, and prices
were low.”
By going against the grain
and catching energy early on, the
management company employed
“more forward-thinking and
opportunistic vantage points,”
King said.
“It was my predecessor who
should get the credit for doing
this,” King added, speaking of
Mark Yusko and his decision to
raise a number of funds in the
category incrementally during the
last five to 10 years.
SEE ENDOWMENT, PAGE 4
COURTESY OF JUSTIN COOK
BY JULIE TURKEWITZ
STAFF WRITER
It was like something out of a
Jimmy Stewart movie.
A stewardess spotted James
Kiddy’s white beard and round
belly and immediately knew there
was a celebrity on the plane.
“Do you play Santa?” she asked.
“No,” replied Kiddy of
Fayetteville. “I am Santa.”
This season, thousands of
rotund and jolly men are don
ning red velvet suits and echoing
Kiddy’s words at malls and parties
around the world.
“I decided that instead of play
ing Santa, I would become him,”
says Cliff Snider of High Point, a
marketing director who has played
The Huskies first qualified for the
NCAA Tournament in 1989, and
they won the school’s first national
title six years later —a year after the
UNC claimed its championship.
Unlike at UNC, though, fans
began to flock to watch the
Huskies. In 1994-95 UConn led
the nation in attendance, the
beginning of its perennial stand
ing near the top of the women’s
basketball attendance chart.
“The national title in 1995
had the most to do with it,” says
Randy Press, an assistant direc
tor of athletic communications
SEE ATTENDANCE, PAGE 5
■BJPk jd
Investment fund allocation MM
UNC's investment fund* is being diversified to combat market downturns.
With more categories, the effects of market depressions are less severe.
- . I Domestic Equity A Bonds
2.5%, s3oTrniiiion I | 22.4%, $273.7 million
Enhanced Fixed Income I Emerging Markets
9%, sllO million | 8%, $97.8 million
Energy & Nat. Resources r Global & Int’l Equity
8.4%. $102.6 million J 16%, $195.5 million
Real Estate 1 Absolute Return
8.5%, $103.9 million 7.6%, $92.9 million
Private Equity J
17.6 h, $215 million 'Portfolio positions as of 6/30J0S
SOURCE: UNC MANAGEMENT COMPANY INC. DTH/BOBBY SWEAT!
UNC takes
purse abroad
BY JENNA RAMAN
STAFF WRITER
In the University’s efforts to
create a globally competitive
campus, administrators are
jumping across the pond with an
expansion to the London study
abroad program.
UNC and King’s College in
London have struck a deal to
expand their undergraduate
exchange program so that gradu
ate students and faculty members
also can study and work abroad.
Along with this deal, the
University purchased a proper
ty in Bedford Square in London,
making this the first UNC
owned study abroad facility in
Europe.
Dee Reid, assistant to the
dean in the College of Arts and
Sciences, said the program offers
a multilevel experience.
“We want to have a truly inter
esting program and have a facility
in England so any faculty, student
and alumni can use (it),” she said.
The newly purchased European
Santa every Christmas since 1962,
when he was 16.
“I decided to grow out my
beard, create my own costumes
and become Santa year-round.”
Nicholas Claus of Seattle says
portly men with white beards have
difficulty escaping the Santa label.
“I get called Santa no matter what
I do or where I go,” Claus says.
It’s no surprise besides having
the authentic beard and belly, Claus,
formerly Stephen Moore, changed
his legal name 20 years ago.
“It just fits better,” says Claus,
a founding member of the
Amalgamated Order of Real
Bearded Santas, a 664-member
group dedicated to improving the
quality of professional Santas.
< f f * af Ilfl fflß
-Ji § If ”***#&*
DTH/LOGAN PRICE
Sophomore Alex Miller lines up a free throw in Carmichael Auditorium
during Friday's blowout of South Florida while a handful of fans watch on.
Sports I page 10
GAME, SET, MATCH
The Tar Heels volleyball team
falls in four games to College
of Charleston in the NCAA
Tournament first round
Saturday at the Smith Center.
MONDAY, DECEMBER 5, 2005
Study Center in Winston House,
which will hold classes for the
honors program in London,
also will enable members of the
University, from alumni to under
graduates, to hold meetings.
“It just seemed to make sense
to look for a facility of our own,”
said James Leloudis, UNC’s asso
ciate dean for honors. “Having a
building will allow us to do so
much more.”
“The vision is that the center
becomes a crossroads,” he said.
The property cost $5 million,
which is being financed by pri
vate funds.
The initial exchange program,
developed in 2002, allowed stu
dents from UNC to attend King’s
College to enroll in a few classes.
A formal exchange was created in
2004, and undergraduates from
both schools could complete a
semester at the other school.
Because of the expansion
of the exchange program, fac-
SEE UNC LONDON, PAGE 4
Kiddy, Snider and Claus are on
Santa duty year-round.
“I’m totally berserk when I’m
Santa,” Claus says. “It’s that love
of children that is such a power
ful thing. They say ‘I love you’ and
give you a big slobbery kiss.”
The money isn’t bad, either.
Claus says that he makes $30,000
during the holiday season.
But to make the big bucks,
training and authenticity are key,
says Timothy Connaghan, execu
tive director of AORBS. He says
most mall Santas make between
$5,000 and SIO,OOO a season.
Connaghan started the
International University of Santa
SEE MALL SANTAS, PAGE 5
weather
Rain
-***** H 45 L2B
index
police log 2
calendar 2
crossword 6
edit 7
sports 10