Campus Echo 10/15/08

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BY GEOFFREY COOPERECHO EDITOR-IN-CHIEF

Financial woes arent juston Wall Street these days.

N.C. Central University isjoining the club, along withthe 15 other North Carolinapublic universities.

About $4.4 million fromNCCUs 2008-2009 certifiedbudget of approximately$109,803,916 has been cut.

Alan Robertson, vice

chancellor for administra-tion and finance, said that onOct. 9, an e-mail was sentfrom Gov. Mike Easley andthe Office of State Budgetand Management to the UNCGeneral Administrationauthorizing budgets fromN.C. agencies be downsizedby 4 percent to maintainfinancial stability in analready shaky state andnational economy.

Ive been in this field formore than 30 years, and Ihave never seen anythinglike this before, Robertsonsaid in regard to the currenteconomy.

The first mandate cameon Sept. 18 from state budgetdirector Charles Perruse,stating that due to the slow-down of the national econo-my, Easley recommendedlowered revenue expecta-tions for all state-wide agen-cies.

In order to reach this goal,Easley first proposed a 2 per-cent cut in authorized budg-ets for state agencies.

We are not immune fromthe nations economic slow-down, Perruse said in theletter.

(We) are implementingmeasures now to give asmuch as possible to managerevenue shortfall should itarise.

Perruse also stated thatEasley is attempting to

ensure that N.C.s budget isstable by June 30, 2009.

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Opinions . . . . . . . 14

OCTOBER 15, 2008

Opinions

Want to understand thefinancial crisis? Its the

Federal Reserve,argues Roundtree.

Page 14

N O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y VOLUME 100, ISSUE 4

1801 FAYETTEVILLE STREETDURHAM, NC 27707

919 530 7116/[email protected]

BY SADE THOMPSONECHO STAFF REPORTER

Since 2001, Jorim Reid,director of bands, has ledN.C. Central UniversitysSound Machine in a tri-umphant rendition.

Yet when funds show nosign of increasing, the

music doesnt always makeit to the stadium. And theinstruments dont alwaysget purchased.

The Sound Machine isfunded by Student Affairs.

The number of studentsin the marching band hasquadrupled, said Reid.

The budget has not.The band did make it to

the Oct. 11 game against thePresbyterian Blue Hose.

Its disappointing whenwe put in 20 hours of hardwork during the week andcant play at the game, said

Beyond NCCU

How we got into thismess the financial

crisis explained.

Page 6

Photo Feature

Echo photographer

Sebastian Frances

turns his camera on

the Big Apple.

Pages 8-9

Sports

Eagles are stoppedat the 1-yard line;now theyre 1-5.

Page 13

On the road, less and lessTight budget, farther-away games means fewer road trips for Sound Machine

Former S

ound Machin

e as

sistant drum major Austin Chamb

er

s show

s the cr

owd h

ow t

o g

et low at th

e 20

04 Ag

gie

-Eagle ClassicEcho File Photo

Budgetcuts hit

homeBY KEVIN G. HALLMCCLATCHY NEWSPAPERS (MCT)

WASHINGT

ON TheTreasury Department con-firmed Friday evening that itwill buy stakes in major U.S.banks and financial institu-tions, announcing the boldmove as leaders of theworld's leading industrial-ized democracies agreed toguidelines for joint actionbut stopped short of takingcoordinated steps sought byinvestors worldwide.

The revelation thatTreasury will take nonvotingstakes in U.S. banks adds to agrowing list of unprecedent-ed government interventionsinto private financial institu-tions not seen since the GreatDepression.

The list includes theseizure of mortgage-financecompanies Fannie Mae andFreddie Mac, the rescue ofglobal insurer AmericanInternational Group with an$85 billion loan, emergencylending to several financialfirms, and the direct pur-chase of short-term promis-sory notes from U.S. corpora-tions to bypass clogged creditmarkets.

The announcements cameafter another turbulent day inworld financial markets, and

after Treasury SecretaryHenry Paulson held an emer-gency meeting in Washingtonwith the finance ministersand central bank presidentsfrom the Group of Seven,which includes the U.S.,Canada, the United Kingdom,

Crisis,Feds

get bold

n See CRI

SIS Page 6

Economic slowdown hits

state $4.3 million cut

from NCCU budget

n See B

AND Page 2

ELECTION NEARS | OBAMA AHEAD IN POLLS

Washing

ton Universit

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ez jockeys for th

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C tap

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s b

ef

or

e th

evic

e pr

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sidential debate to b

e held at Washing

ton Universit

y in St. Louis, Missouri, Thur

s

day, October 2, 20

08.

ROBERT COHEN/St. Louis Post-Dispatch (MCT)

INSIDE

See our CampusElection Special.Its in the fold.

Its been a long presidential campaign for everyone. Now its almost time

to head to the polls early voting starts tomorrow. The Republicans have

occupied the White House for eight years. Will John McCain make it 12?

Or will Barack Obama make history and become the first African-Americanelected to our highest office? Read about it in our special elections section.

Well tell you where and when you can vote. Theres even a sample ballot.

n See BUDGET Page 2

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2 Campus EchoWEDNESDAY, OCTOBER 15, 2008CampusN O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y

The NC

CU Sound Ma

chin

e at this ye

ars Ag

gie-Eagle Classic in Charlot

t

es Memorial Stadium.

BRYSON POPE/Echo Staff Photographer

BANDCONTINUED FROM PAGE 1

So how does this affectNCCU?

The mandate from Easleyaffects public schools, com-munity colleges and the uni-versities in the UNC System.

On Sept. 24, ChancellorCharlie Nelms issued aUniversity-wide e-mailexplaining the contents ofthe mandate from Easleyand outlining the NCCUadministrations plan tocarry out Easleys initia-tives.

Nelms said the slow-downin N.C.s economy could becredited to scenarios

Americans are facing, suchas the credit crunch, bankfailures, high unemploy-ment and businesses goingunder.

This thing has a rippleeffect, said Nelms.

If anyone ever wonderedabout the global nature ofthe economy, if they needproof, this is certainly it.

Nelms said that althoughthe University was notentirely prepared, he wasnot surprised at the cuts.

He said he believes theyare reasonable and that theUniversity system is general-ly well supported by thestate.

Any cut is too much, but

its understandable becausethis is a situation that is

affecting all of us, he said.We are going to continue

to do our share.Nelms approved NCCUs

budget committee recom-mendations:

All state-funded vacan-cies were to be stopped as ofSept. 24.

In order for any vitalUniversity position to befilled, it must go through theapproval of departmentchairs, deans, the provost orvice chancellor and thechancellor.

Hiring decisions will bebased on the urgency of theposition and availability offunds.

As of Sept. 30, the fundsfor positions that have notyet been filled will be seizedby NCCU administration.

Travel and purchasingdecisions should be weighedheavily.

Purchases should only bemade that are vital toUniversity priorities.

The Office of StateBudget and Managementwill monitor the revenueposition monthly.

The budget cuts may belifted when the economyimproves.

BUDGETCONTINUED FROM PAGE 1

Reubin Ahukanna, a trom-bone player in the SoundMachine.

Reid said he has pur-chased meals and paid fortransportation for themarching band out of hisown pocket.

He also has purchaseditems such as drumsticks,reeds and sheet music,often because they wereneeded immediately.

Due to scheduled per-formances, the band cantspare the time to wait twoor three months for monies

to be approved by theschool.

Price increases espe-cially gas prices havealso hit the Sound Machinehard and cut into their abil-ity to travel to away games.

There was a time wherediesel used to be cheaperthan regular gas, but now itcosts more, said Reid.

According to Reid, it nowcosts about $1,800 dollarsper bus per trip, comparedto $600 dollars per busthree to four years ago.

People have to get out

of the CIAA culture andmentality, Reid said.

New stipulations comewith transferring to theMid-Eastern AthleticConference, and the march-ing band will not be atevery game.

Schools that NCCU usedto play regularly includingShaw University and

Johnson C. SmithUniversity, are located clos-er to NCCU.

But MEAC games, atschools like HowardUniversity in Washington,

D.C., and Florida A&MUniversity in Tallahasseeare farther way.

Reid said that even whenthe band is not present,fans should be excited tosee the Eagles play.

Students should be stu-dents and pep up thegame, he said.

Reid said he reaches outto outside corporations,like Yamaha, for support.

The corporation gave theSound Machine equipmentvalued at half a million dol-lars for $100,000.

Regardless of color, religion, or ethnicity, Martin Luther King Jr. believed in equality for all Americans.Now its our turn to keep his dream of hope alive. Help build The Martin Luther King Jr. National

Memorial on the Mall in Washington, DC. Your support will help future generations learn thatwithout the tireless work of Dr. King, the world they live in could be a very different place.

WASHINGTON DCCALL 1 888 4-THE DREAM or VISIT BUILDTHEDREAM.ORG

These shoes were found 46 yards from

the crash caused by a drunk driver.

Carissa Deason was thrown 30 yards and

not even her father, a doctor, could save her.

Friends Dont Let Friends Drive Drunk.

Campus Echo Onlinec a m p u s e c h o . c o mc a m p u s e c h o . c o mc a m p u s e c h o . c o m

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Campus Echo

WEDNESDAY, OCTOBER 15, 2008 CampusN O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y

3

Book fair fares wellScholastic Book Fair provides resources for

NCCUs Curriculum Materials Center

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Want to attend health career seminars and workshops?

Want to meet recruiters from health professions schools?

Want to meet students pursuing health professions?

If so, find out about the N.C. HealthCareers Access Program at NCCU.

Health Careers Center

521 Nelson Street

Durham, NC 27707

919 530-7128

Barbara S. Moore, Director

Alfreda D. Evans, Program Assistant

BY MIKE

DEWEESE-FRANK

ECHO STAFF REPORTER

N.C. Central UniversitysCurriculum MaterialsCenter hosted its fourthconsecutive ScholasticBook Fair Oct. 6-9 to publi-cize the center and to addmore childrens books to itscollection.

The fair was held at theCurriculum MaterialsCenter in the H.M. MichauxEducation Building.

The CMC was originallylocated in Shepard Library;in 2004, it moved to the newEducation Building.

Yash Garg, CMC director,

said the book fair was goodpublicity, helping bring peo-ple to the center and pro-viding an introduction to itsservices.

The CurriculumMaterials Centers primarypurpose is to provideresources to tomorrowsteachers, said Garg.

The center provides edu-cational materials for theteachers training programin the education depart-ment.

Angela Terry, CMC assis-tant, said that theScholastic Book Fair wentvery well, and is good forthe center. The fairlets people know thatwere here and that weexist, said Terry.

Besides publicity, CMCneeded more childrens lit-erature for its collection.The center now has morethan childrens 1,000 books.

Scholastic will donatebooks to CMC based on howmany are sold.

We get to keep a certainpercentage of sales for our-selves, said Garg.

The Scholastic Book Fairwas not held to raise fundsfor CMC, but rather toreceive in-kind donationsfrom Scholastic.

I dont want to make it abusiness venture, saidGarg. I want to make it anacademic venture.

Last year, CMC sold$1,200 worth of books at thefair, which resulted in bookdonations valued at $550.

According to Garg 30titles were selected thisyear, with a value of $350.

Most of them are educa-tional titles like Freedomon the Menu, Birmingham- 1963 and Hooray forReading Day.

Other are storybooks likeThe Rabbit and theTurtle, By the Light of theSilvery Moon and Old

Bear.Others acquired include

pre-school titles, such asAlphabet and ComeRhyme with Me.

Garg said she strives tooffer a variety of literarygenres, including adven-ture, science, fantasy,graphic novels, reference,history, and picture books.

She said she tries to

choose books for the CMCcollection that will cater toa variety of interests andlevels of reading.

Garg said, we want goodliterature, and describesherself as being very selec-tive in choosing not onlywhat will be available at theScholastic Book Fair, butwhat titles will be donatedto CMC.

Campus Echo Online ~ www.campusecho.comBreaking news, past issue archives, advertising information, and more.

Yash Gar

g, dir

e

ctor of th

e Curriculum Materials C

enter, at th

e

annual Scholastic Book Fair, O

ct 6-9.

MICHAEL DEWEESE-FRANK/Echo Staff Photographer

ATTENTION STUDENTSNOTICE OF HISTORICAL ELECTION EVENT

Tuesday, November 4, 2008

The Durham County Board of Elections will conduct a General Election on Tuesday, November

4, 2008. All of our 57 polling places will be open from 6:30am until 7:30pm.

Races on the ballot will be: US President and Vice President, US Senate, US House of

Representatives, Governor, Lt. Governor, Attorney General, Auditor, Commissioner of

Agriculture, Commissioner of Insurance, Commissioner of Labor, Secretary of State,

Superintendent of Public Instruction, Treasurer, NC Senate 18,20, NC House 29,30,31,55,

District Attorney, County Commissioner (5), Register of Deeds, NC Supreme Court AssociateJustice, NC Court of Appeals Judge (6), District Court Judge, Soil and Water Conservation

District Supervisor, and Tax Referendum.

All registered voters residing in Durham County are eligible and encouraged to vote in this

election. Voters who are currently registered need not re-register. Citizens who have not regis-

tered or voters who have moved or changed other information since they last voted must notify

the Board of Elections by 5pm, Friday, October 10, 2008.

NOTICE OF ONE STOP NO EXCUSE ABSENTEE VOTING

Any Durham County registered voter can vote early---youll receive the exact same ballot as

you would at your precinct on Election day. If you have moved, it is easy to update your

address at any one stop site.

ONE STOP LOCATIONS Board of Elections Office: 706 W. Corporation St, Durham, NC 27701

NCCU Campus: Parrish Center Meeting Room, 1400 S. Alston Ave, Durham, NC 27707

Duke University Campus: Old Trinity Room, West Union, 114 Chapel Dr, Durham, NC27708

North Regional Library: 231 Milton Rd, Durham, NC 27712

East Regional Library: 211 Lick Creek Ln, Durham, NC 27703

Forest View Elementary: 3007 Mt. Sinai Rd, Durham, NC 27705

Southwest Elementary: 2320 Cook Rd, Durham, NC 27713

ONE STOP HOURS (SAME FOR ALL 7 LOCATIONS)

Thur-Sat Oct 16-18 9am-5:30pm

Sun Oct 19 12noon-3pm

Mon-Sat Oct 20-25 9am-5:30pm

Sun Oct 26 12noon-5:30pm

Mon-Wed Oct 27-29 9am-5:30pm Thur-Fri Oct 30-31 9am-7pm

Sat Nov 1 9am-1pm

SAME DAY REGISTRATION-Voters are allowed to register and vote at one stop sites.

It is quicker and easier to register in advance, but if you have not registered you can do

it at one stop with proper identification. (This same day registration is not allowed at the

precincts on election day.)

VOTING IS THE

CORNERSTONE

OF DEMOCRACY

YOUR VOTE IS YOUR VOICE

REGISTER NOW & VOTE

Information regarding registration, polling locations, absentee by mail voting, one

stop hours, or other election matters may be obtained by contacting the Board of

Elections at: 919-560-0700 or www.co.durham.nc.us/elec or 706 W.

Corporation St., Durham, NC, 27701

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Campus Echo

WEDNESDAY, OCTOBER 15, 2008CampusN O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y

4

NC TEACH an alternative routeBY CARA OXENDINE

ECHO STAFF REPORTER

Undecided about what youwant to do with your life or

your degree?

NC TEACH, or North

Carolina Teachers of

Education for All Children,

offers students an opportuni-

ty to enter the teaching pro-

fession without a teaching

degree or prior teaching

experience.

N.C. Central University is

one of 12 colleges in the state

that offer the program.

NC TEACH was developed

nine years ago by the State

Board of Education and the

N.C. Department of Public

Instruction and has provided

licenses to more than 1,500

students in 85 North Carolina

counties.

Graduates are hired as lat-

eral-entry teachers, which

means that prior teaching

experience or a teaching

degree is not required, just 24

credits in a specialized area.

Students are allowed to

begin teaching right away,

while taking coursework to

complete their teaching certi-

fication.

Its like a temporary

license or a provisional per-

mit for teachers, said

Katrina Billingsley, NCCUs

site coordinator for NC

TEACH.

The program provides

new, alternative routes to

teacher certification and

enables school districts to

respond quickly and more

efficiently to high-need

schools.

The drawbacks to being

lateral-entry is that you are

learning as you are doing,

says Ragan Spain, a high

school science consultant for

the N.C. Department of

Public Instruction,

Curriculum Instruction and

Technology Division.

They dont have the luxu-

ry of a student teaching expe-

rience, he said.

Often your beginning

teachers are saddled with

more problem kids, lower lev-

els, and lower couses.

Some advantages of enter-

ing lateral entry are that stu-

dents can avoid taking Praxis

I by maintaining a 2.5 GPA

and can start with higher

salaries because of previous

work experience.

Even better, the program

allows out-of-state students to

be eligible for in-state tuition.

Its the local systems that

give supplements that differ-

entiate the pay, he said.

This means that students

must find schools that offer

loan forgiveness programs

and pay incentives.

Teaching is a rewarding

profession, said Spain. One

where your hands actually

shape the future every day.

I doubt it will ever get the

money it deserves, but retire-

ment salaries in N.C. are

among the highest national-

ly.

NCCU offers certification

programs for grades K-12 in

special education, and for

grades six through nine in

math, science, language arts

and social studies.

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5Campus Echo

WEDNESDAY, OCTOBER 15, 2008

PAID FOR BY OBAMA FOR AMERICA

MAKE SURE YOUR VOTE IS COUNTED

VOTE EARLY OCT. 16 THRU NOV. 1

FOR ONE-STOP EARLY VOTING LOCATIONS NEAR YOU

CALL 1-888-NC-EARLY (1-888-623-2759) OR VISIT

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6 Campus EchoWEDNESDAY, OCTOBER 15, 2008Beyond NCCU

N O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y

BY EDWIN GARCIASAN JOSE MERCURY NEWS (MCT)

SACRAMENT

O, Calif. Getready to remove your fin-gers from that tiny key-board while driving.

Gov. ArnoldSchwarzenegger onWednesday signed into law

a measure banningmotorists from text mes-saging and e-mailing whileoperating a vehicle.

The law, written by stateSen. Joe Simitian, D-Palo

Alto, takes effect Jan. 1.Building on legislation

already helping save livesin California, I am happy

to sign this bill because itfurther encourages safeand responsible driving,Schwarzenegger said in a

statement.Banning electronic

text messaging while driv-ing will keep drivershands on the wheel andtheir eyes on the road,

making our roadways asafer place for allCalifornians.

Drivers caught using

their phones to write, reador send messages will behit with a $20 ticket thefirst time and $50 on eachsubsequent offenses.

CRISISCONTINUED FROM PAGE 1

For more information or

to get involved in Campus Ministries

contact Rev. Michael Page at 530-6380 or by e-mail at

[email protected]

United ChristianCampus Ministr

y525 Nelson Street, NCCU Campus

Michael D. Pa

g

eCampus Minister

MID WEEK MANNALunch and Learn Bible Study

Every Wednesday 12:00 Noon to

12:50 P.M.

Old Holy Cross Catholic Church

Guest Lecturers:

Wed., Oct 15 ~, Dr. Herbert R. Davis,

Pastor, Nehemiah Christian Center

Wed., Oct. 22 ~ Minister Tammy

Rodman, Abundant Hope Christian

Church

Wed., Oct.. 29 ~ Wilbur Fletcher,

Evangelical Lutheran Fellowship

Calif. restricts texting, driving

S

tu

d

e

n

t

s, Si

g

n u

p t

o join C

h

ris

tia

n S

t

u

d

e

nt F

el

lo

w

shi

p,

FITT MEN's Mi

n

is

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ry.

Housing values never go down. That simple premise enticed American consumers and Wall Street

to load up on mortgage debt. Plunging home values now threaten to drag down the global economy.

THE BOOM 2000-2006

Clinton and Bush administrations and Congress,as part of their domestic agenda, push toincrease homeownership from about 63 percentof U.S. households to 68 percent. Underwritingregulations are eased to allow more low-incomeborrowers to obtain a mortgage.

2000: The dot-com bubblebursts in March, followed bythe 9/11 terrorist attacks in2001.

Stock markets tumble.The Federal Reserve, underAlan Greenspan, cuts interestrates 12 times beginning inJanuary 2001. By June 2003,interest rates are at a 40-yearlow.

New home construc-tion, existing home sales andmedian home values surge.

Lendersuse the cheapmoney to create ever-moreexotic mortgages, includingadjustable-rate loans withteaser or introductory ratesas low as 1 percent.

Subprime loans, thosemade to borrowers with poor orrisky credit histories, soar from7 percent of all home loans in

2001 to 20 percent in 2006.Lenders pool the mort-

gages to sell on Wall Street,which embraces the real estatesector and its promise of highreturns.

Credit ratings agenciesbless these mortgage packageswith their safest rating, AAA.A key assumption: home val-ues will continue to rise.

Banks, insurance com-panies, hedge funds, pensionfunds and foreign governmentsgobble up these supposedly safemortgage-backed securities.

Some firms buy insur-ance policies from AmericanInternational Group and simi-lar firms to protect them in theevent of defaults.

THE SUBPRIME CRISIS

LATE 2006 TO EARLY 2008

The Federal Reserve raises interest rates inJune 2004, the first of 16 increases. The bub-ble begins to deflate a year later with the firstwave of foreclosures, a slowdown in new-home construction and a slide in home values.

January 2006:Ameriquest Mortgage Co. set-tles 49-state probe into decep-tive subprime practices for$325 million.

April 2006: Fed ChairmanBen Bernanke acknowledgessigns of softening in housingmarket.

Median home saleprices stall, then fall.

Housing starts to fall.February 2007: New-

home sales drop 20.1 percentfrom same month in 2006.

Sales of existinghomes fall.

The consumer econo-my stalls as home sales akey indicator of future con-sumer spending fall.

Teaser rates give way tohigher monthly payments.

Owners, unable to refi-nance or sell, start missingpayments.

Foreclosures mount.The value of those

mortgage-backed securitiessinks.

THE MELTDOWN 2008

Accounting rules require owners of the mort-gage-backed securities to write down theirvalue. As the housing market worsens, confi-dence in the value of any mortgage-backedsecurity evaporates. Investors are forced towrite off hundreds of billions of dollars.

February:AIG and otheragencies that sold insuranceagainst defaults have to pay upand take similar writedowns.

March: Bear Stearns, amajor investment bank andunderwriter of mortgage-backedsecurities, runs out of capital andis sold to J.P. Morgan Chase.

April: New CenturyFinancial, the second largestsubprime lender, files forbankruptcy.

Sept. 7: Mortgage giantsFreddie Mac and Fannie Mae,with more than $5 trillion inmortgage-back securities, aretaken over by the federal gov-ernment to avert a bankruptcyafter their market values fellby more than half.

Sept. 15: Lehman Brothersinvestment bank goes bankrupt.

Sept. 15: Merrill Lynch

hastily accepts a purchase offerfrom Bank of America to avoidLehmans fate.

Sept. 16: AIG is rescuedby the Federal Reserve with an$85 billion secured loan inexchange for a 79.9 percentgovernment stake.

September:Bankers,unsure of their total exposureto bad mortgages, raise interestrates for their best customersand shy from lending moneyto others.

September:Fear of adeep global recession grows.

September: Saying piece-meal interventions are notenough, Treasury SecretaryHenry Paulson and Bernankepropose a $700 billion bailoutunder which the governmentwould buy and then attempt toresell mortgage-backed securities.

FROM WASHINGTON . . .

Politicians of all stripes, long preaching the virtues of home-ownership, resist efforts to tighten lending standards. The Americaneconomy depends heavily on free-spending consumers, and interestrate cuts beginning in 2001 were tinder for the housing boom.

. . . TO WALL STREET

Banks and mortgage lenders opened the vault to anyone whohad a pulse. Platoons of mortgage brokers canvassed the country,offering deals that seemed too good to pass up. Wall Street bun-dled packages of good, bad and ugly loans for eager investors.

. . . TO MAIN STREET

American consumers go on a borrowing binge. They buyhomes they cant afford, use their homes as an ATM and specu-late in real estate. Some are victimized by largely unregulatedmortgage brokers. When the bills come due, theyre tapped out.

BY KEVIN G. HALL

McClatchy Newspapers

any Americans are nervously watching thewild swings on the New York StockExchange for signs of a Wall Street col-lapse, but its the opaque credit marketsthat matter most right now to consumersand businesses alike.

These markets can be mind-numbing in their complexity, butthey are vital to corporate Americas ability to fund its daily cashflow, and to Main Street itself. And theyre the reason whyPresident Bush proposed the controversial $700 billion rescue plan.

Here are some answers to questions about the credit markets.

Q:Whats the credit market?A: Its not one but several interconnected markets. Some of

these markets involve banks lending to each other at overnight

rates, while others involve issuance of a variety of debt instru-ments such as bonds that carry a short lifespan.

Q:Why do banks need to provide each otherovernight credit?

A: The Federal Reserve requires banks to keep a certainamount of cash in reserve on the premises or in one of the Fedsdistrict banks. The amount is actually a ratio to the level ofdeposits the banks have. The required ratio of reserves-to-depositsgoes up and down, so banks lend to each other to cover this ever-shifting target.

The Federal Reserve establishes a target for the rate that bankscharge in overnight lending called the Fed funds rate. This tar-get is set through the Feds rate-setting Federal Open MarketCommittee, which normally meets eight times a year. But theactual overnight lending rate is set by the banks themselves.

The Feds target interest rate for overnight lending has been at

2 percent since April, but the market-set rate actually shot up to 7percent Tuesday morning before tapering off to 3 percent. Thatsstill a full point above the Feds target, and it means banks arehoarding cash and only willing to part with it for a high price. Theresult: They borrow less, and thus lend less.

Q:How does this translate to problems on Main Street?A: Commercial banks take a cue from the Fed funds rate when

they set the prime rate, which is the interest they charge on loansto customers with the best credit. The prime rate is usually 3 per-centage points higher than the Fed funds rate, but banks do set thisrate based on conditions on the ground. Changes in t he Fed fundsrate affect short-term interest rates, foreign exchange rates andindirectly the price of goods and services and even employment.

So overnight rates are a vivid, immediate expression of the con-fidence or lack thereof in credit markets. When nervous bankscharge each other higher overnight rates, it ripples across all kindsof lending in the economy.

Q: How is this credit crunch affecting corporateAmerica?

A: Corporations dont have piles of cash sitting in bank accountsto pay their bills. They issue IOU-like short-term notes, sometimescalled commercial paper, that often mature in 30 days. In somecases, the collateral on these notes is a companys inventory or otherassets, so these bonds are also called asset-backed commercial paper.

When these largely unregulated short-term notes mature, investorscan cash in or roll them over for another 30 days. If there is the percep-tion of more risk, the yield or the interest paid to investors rises.

When theres confidence in the markets, the yields are low, whichmeans that borrowing costs for corporations are low. When fear is ram-pant, as it is now, investors are reluctant to hold these bonds, fearing adefault. They demand a higher interest rate, or yield. As the yield rises,it becomes more costly to borrow to fund day-to-day operations.

Q: So what? These Wall Street fat cats deservewhats coming to them.

A: Maybe so, but remember that although the investors whobuy these short-term debt instruments may be on Wall Street, thecompanies issuing this debt are corporations that employ millionsof people in the U.S. and around the world. When their costs ofborrowing go up substantially, they have to cut costs elsewhere,and that often translates into layoffs. Thats how Wall Street prob-lems quickly become Main Street problems.

Q: Any other examples?A: Automobile dealerships. Carmakers dont just give them

cars. Dealerships borrow money to purchase the cars they willthen sell to customers. When the cost of borrowing goes up fordealerships, theyre forced to raise the price of the vehicles theysell at a time when there are already few buyers and when loanterms have tightened sharply for consumers.

The credit crunch also hits developers and civil-engineeringfirms that build shopping malls, office buildings and public worksprojects. When funding for their projects dries up, constructionworkers are laid off.

Q: How are local communities hit by the credit crunch?A: Many local governments rely on issuing debt, often in the

form of municipal bonds, to fund road projects or other develop-ment in their region. They too are being squeezed as the cost ofcredit goes up. Local quality of life will suffer.

I think its going to limit (bond issuance) because it is goingto be expensive to borrow. Its going to be tough on small commu-nities, said Michael Long, the treasurer for Klamath County inOregon, on Californias northern border.

MORE Q&A: McClatchy correspondents Kevin G. Hall and

Tony Pugh are available to answer your questions about the eco-

nomic meltdown athttp://www.mcclatchydc.com/turmoil/ .

M

INNEAPOLIS

STAR

TRIBUNE/M

CT

*Measures changes in residential real estate

values by tracking repeat sales of individual proper ties.

Germany, France, Italy andJapan.

In a news conference,Paulson said he told thevisiting financial leadershow hell carry out therecently enacted $700 bil-lion U.S. financial rescuepackage.

He revealed that heplans to go beyond pur-chasing distressed bank

assets to take nonvotingstakes in U.S. financialinstitutions to help recapi-talize them.

We are developingstrategies to use theauthority to purchase andinsure mortgage assets andto purchase equity in finan-cial institutions, as deemednecessary to promotefinancial market stability,Paulson said.

He added that Treasuryis working to develop astandardized approach fora wide array of companiesto help them attract privatecapital as well.

In a joint communique,G-7 finance ministers and

central bankers said thatthe current situation callsfor urgent and exceptionalaction.

We commit to continueworking together to stabi-lize financial markets andrestore the flow of credit,to support global economicgrowth.

Their five-point guide-line plan includes prevent-ing bank failures; ensuringthat credit and money mar-kets return to normal func-tioning; enabling banks toraise capital from publicand private sources; ensur-ing sufficient insurance ofbank deposits; and restart-ing the secondary markets

where mortgages and otherloans are pooled into bond-like instruments.

This is a period likenone of us have seenbefore. ... There were not(questions) on what weneeded to do, Paulsoninsisted, dismissing con-cerns that global investorswanted to see more imme-diate G-7 steps taken inunison.

Action would be coordi-nated where possible, hesaid, but individual coun-tries are going to have dif-ferent needs and are goingto approach the problemsdifferently.

Perhaps the statements

most important point, how-ever, was its message to theworld that the G-7 powersare committed to coordi-nated and united action.

Market analystshad stressed that such astand was necessary toimprove global confidence.Thats the point Paulsonemphasized in a statementhe issued following themeeting:

The G-7 is compelled torobust international part-nership and cooperation.Never has it been moreessential to find collectivesolutions to ensure stableand efficient financial mar-kets and restore the healthof the world economy,

Paulsons statement said.Over the weekend,

Paulson will continue meet-ing with leaders of theworlds 20 most importanteconomies including bigemerging markets such asBrazil, Russia, India andChina to seek additionalways of restoring confidencein the financial markets.

Theyre in Washingtonfor meetings of theInternational MonetaryFund.

The G-7 meeting came atthe end of a turbulent week

in global financial markets.In the U.S. on Friday, the

Dow Jones IndustrialAverage swung more than1,000 points in a wild day oftrading, the biggest pointswing in the blue-chipstock indexs 112-year his-tory.

The Dow closed down128 points to 8,451.19, thebest daily finish in a dismal

week that had the indexdown more than 18 percent,the worst week of its sto-ried history.

Before getting to thatfinal number, however, theDow fell almost 700 pointsafter the opening bellFriday and briefly crossedbelow 8,000 for the firsttime in five years.

In a rare bit of goodnews, some battered bankstocks including Citigroupand J.P. Morgan Chaserebounded, preventingeven steeper losses in theDow.

The tech-heavy Nasdaqactually closed up 4.39points, or 0.27 percent, to

1,649.51. The S&P 500 post-ed modest losses of 10.70points, or 1.18 percent, to899.22.

And the Russell 2000, anindex of smaller compa-nies, rose 4.6 percent.

The U.S. numbers weretame compared to the tur-moil abroad Friday, asinvestors projected into thefuture and fretted about asinking global economy.

Japans Nikkei exchan gefell 9.6 percent, losing aquarter of its value thisweek. Exchanges in HongKong and Australia fell 7.2percent and 8.3, respective-ly, on Friday.

Asias turmoil spread to

Europe, where LondonsFTSE exchange was down8.8 percent and exchangesin Germany and Franceclosed down 7 percent and7.7 percent, respectively.

There is no safe haven,said Evariste Lefeuvre, aneconomist with the Frenchinvestment bank Netixis,told the BBC.

Most economists nowproject a U.S. recessionand the possibility of aglobal one.

Another bright spot: Oilprices tumbled 10 percent,settling at $77.70 a barrelon the New York MercantileExchange, almost half of

Julys record of $147.

For U.S. motorists, thattranslates to lower pumpprices.

The nationwide averageprice for a gallon of unlead-ed gas fell to $3.35 onFriday, according to AAA.

Thats down 76 centsfrom the July 17 high of$4.11 a gallon and down 31cents from a month ago.

Meanwhile the creditmarket at the heart of theglobal financial turmoilsent conflicting signals.

The most closelywatched credit measure isthe London interbank offerrate, or Libor, a rate bankscharge each other forshort-term loans.

The British Bankers

Associati on said Fridaythat the overnight Liborrate improved markedly, to2.46875 percent on Fridayfrom 5.09375 percent a dayearlier.

But the Libor rate forthree-month loans, a sign offuture confidence, actuallyrose from 4.75 percent to4.81875 percent.

Libor rates affect thecost of borrowing for U.S.businesses, as well as somerates on car loans, studentloans and adjustable-ratemortgages.

www.campusecho.com

7/27/2019 Campus Echo 10/15/08

7/17

7Campus Echo

WEDNESDAY, OCTOBER 15, 2008 Beyond NCCU

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Recent warming not cyclicGlobal warming unprecedented in 1,300 years study

BY RENEE SCHOOFMCCLATCHY NEWSPAPERS (MCT)

WASHINGTON A new scien-tific study adds evidencethat temperatures in theNorthern Hemisphere fluc-tuated a bit over time, butthat the sharp increaseduring the past fewdecades is bigger than any-thing in at least 1,300 years.

The report was pub-lished Tuesday in theProceedings of theNational Academy ofSciences.

Its conclusion is thattemperature increased anddecreased a little over thecenturies, but the fluctua-tions were small enoughthat the line was roughlyflat, like the shaft of a hori-zontal hockey stick.

Then, from about 1980 tonow, temperatureincreased sharply, morethan any increase before like the blade of the hockeystick.

For the past 10 years, cli-mate-change skeptics havebeen calling the hockeystick bogus.

Now the scientists whostudied the climate recordand produced the originalhockey-stick graph havedone a new study usingmore data from moresources and they got thesame pattern.

The new study estab-lishes further evidence thatthe recent warming isnt

just part of a typical cycle,said climatologist MichaelMann, director of the EarthSystem Science Center atPennsylvania StateUniversity.

Of course, this alonedoesnt establish the causeof that warming that itmust be due to human

influences, Mann said.Thats left to other scientif-ic studies of the climate.

Forces of nature changes in the output of thesuns energy and volcaniceruptions and randomvariation explain thechanges in climate beforeindustrial times, Mannsaid. But only if human fac-tors are taken into account particularly the produc-tion of long-lasting, heat-trapping gases from burn-ing fossil fuels can scien-tists explain the unusuallyhigh recent temperatureincrease, he said.

Manns groups study col-lected additional data forthe centuries before themid-19th century, when sci-entists began recordingtemperatures.

Their previous studydepended on tree rings,and some critics said it wasnot a reliable way to recon-struct past climate over along period.

Mann said that while itsnot always true that treerings arent reliable, histeam decided to conduct anew study that didntdepend on them.

They took data fromother natural sources ofclues about past climate _corals, ice cores and lakeand cave sediments.

We found we got moreor less the same answer,Mann said.

The recent temperature

increase is an anomalyover 1,300 years withoutusing tree rings, and for1,700 years if the tree-ringdata are used, the studyfound.

Scientists have observeda warming of about 0.8degrees Celsius during thepast century.

Mann said there was aburst of about 0.3 degreesfrom about 1900 to 1950.

Then, in the 1950s to1970s, temperatures wereflat or showed a slight cool-ing, because heavy particlepollution, which has a cool-ing effect, masked the heat-ing effect of greenhousegases, Mann said.

Another, larger increaseof temperature has beenrecorded in the past 30years, he said, due largelyto the increase of green-house gases. Particle pollu-tion was reduced as aresult of clean-air laws inthe U.S. and other coun-

tries.On the W

eb:

An abstract of the NationalAcademy of Sciences report:http://www.pnas.org/con-tent/early/2008/09/02/0805721105.abstract

Earth System ScienceCenter at Penn State:http://www.essc.psu.edu/

Campus Echo Onlinewww . c am p u s e c h o . c omwww . c am p u s e c h o . c om

Get acopy!

White workingclass revealed

BY CARA OXENDINEECHO STAFF REPORTER

Ever wonder why thewhite working class so oftenvote Republican eventhough the vote they castoften works against theireconomic interests?

Joe Bageant, author ofDeer Hunting with Jesus:Dispatches from AmericasClass War, provides insightinto that quandry.

Provocative and convinc-ing journalist Joe Bageantwill discuss and sign copiesof his book, Deer Huntingwith Jesus: Dispatches from

Americas Class War, thisevening at 7 p.m.

The event will be held atthe Regulator Bookshop at

720 Ninth St. in Durham.The book signing is open tothe public.

In a close inspection intohis own native Scottish-Irish mutt people of theworking class in Virginia,Bageant shows how workersthroughout America havecontinually voted for aRepublican party that doesnot appear to support them.

He evokes working classAmerica like no one else,said Howard Zinn, author ofA Peoples History of theUnited States.

The author ofReservation Blues, Sher-man Alexie, warns that weignore its message at ourperil.

Bageant says the problemfor the white working class isthat they vote Republicanbecause no liberal voice that speaks the rock-bottom,undeniable truth, everenters their lives.

This is a truly usefulwarning to heed at the edgeof an important election.

If you r

e

gis

tered usin

g N

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CU as y

our addr

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s v

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Old Holy Cr

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chedule:

Oct 16 to Nov 1, Oct 16-29, Mon-Fri, 9am-5:30

Oct 30-31, Thu-Fri, 9am-7pm

Sat, Oct 18, 9am-3pm

Sun, Oct 19, 12pm-3pm

Sat, Oct 25, 9am-5:30pm

Sun, Oct 26, 12pm-5:30pm

Sat, Nov 1, 9am-1pm

7/27/2019 Campus Echo 10/15/08

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N O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y

New York, New YorkWE D N E S D A Y , O C T O B E R 1 5 , 2 0 0 8

8 9

Photographic Essay by Sebastian Frances

Who would have thought a quiet little

island inhabited by the Lenape

Native American tribe would

become what we now know as

New York today?

Every time I visit New York, I am amazed by

the sheer scale of the buildings, the number of

people cramped in tiny spaces and the energy

that characterizes the city.

It is fascinating to know that from its humble

beginnings, the island of Manhattan has become

a major cultural, commercial and financial center

of our country.

It has also become a staple in world travel,

along with Paris, London, Moscow, and other

major cultural hubs.

The city is home to 38 museums, several

renowned universities and an array of well-known

landmarks and tourist attractions all packed in

22.96 square miles.

The presence of The United Nations and the

New York Stock Exchange add to the diversity of

institutions that make up this tiny island.

Manhattan is also important to our nations

history because, for several years, it was the gate

to the United States for millions of immigrants.

Some stayed in the city; others spread out

across the country all brought the dream of anew life of opportunities.

In search of the same dream, hundreds of

African Americans migrated to New York during

the Great Migration from the South, to escape

racism and make a better life. As a result, the

Harlem Renaissance was born.

Art movements, like abstract expressionism

and pop art, were also born in New York and

helped the city carve out its place in global cul-

ture.

For these reasons, as well as others, I love and

admire this city.

I cant wait to go back!

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7/27/2019 Campus Echo 10/15/08

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10Campus Echo


Campus Echo Onlinewww.campusecho.com

www.campusecho.com

www.campusecho.com

www.campusecho.com

Information regarding registration, polling locations, absentee by mail voting, one

stop hours, or other election matters may be obtained by contacting the Board of

Elections at: 919-560-0700 or www.co.durham.nc.us/elec or 706 W. Corporation

St., Durham, NC, 27701

ATTENTION STUDENTSNOTICE OF HISTORICAL ELECTION EVENT

Tuesday, November 4, 2008

The Durham County Board of Elections will conduct a General Election on Tuesday, November

4, 2008. All of our 57 polling places will be open from 6:30am until 7:30pm.

Races on the ballot will be: US President and Vice President, US Senate, US House of

Representatives, Governor, Lt. Governor, Attorney General, Auditor, Commissioner of

Agriculture, Commissioner of Insurance, Commissioner of Labor, Secretary of State,

Superintendent of Public Instruction, Treasurer, NC Senate 18,20, NC House 29,30,31,55,

District Attorney, County Commissioner (5), Register of Deeds, NC Supreme Court Associate

Justice, NC Court of Appeals Judge (6), District Court Judge, Soil and Water Conservation

District Supervisor, and Tax Referendum.

All registered voters residing in Durham County are eligible and encouraged to vote in this

election. Voters who are currently registered need not re-register. Citizens who have not regis-

tered or voters who have moved or changed other information since they last voted must notify

the Board of Elections by 5pm, Friday, October 10, 2008.

NOTICE OF ONE STOP NO EXCUSE ABSENTEE VOTING

Any Durham County registered voter can vote early youll receive the exact same ballot as

you would at your precinct on Election day. If you have moved, it is easy to update your

address at any one stop site.

ONE STOP LOCATIONS

Board of Elections Office: 706 W. Corporation St, Durham, NC 27701

NCCU Campus: Parrish Center Meeting Room, 1400 S. Alston Ave, Durham, NC

27707

Duke University Campus: Old Trinity Room, West Union, 114 Chapel Dr, Durham, NC

27708

North Regional Library: 231 Milton Rd, Durham, NC 27712

East Regional Library: 211 Lick Creek Ln, Durham, NC 27703

Forest View Elementary: 3007 Mt. Sinai Rd, Durham, NC 27705

Southwest Elementary: 2320 Cook Rd, Durham, NC 27713

ONE STOP HOURS (SAME FOR ALL 7 LOCATIONS)

Thur-Sat Oct 16-18 9am-5:30pm

Sun Oct 19 12noon-3pm

Mon-Sat Oct 20-25 9am-5:30pm

Sun Oct 26 12noon-5:30pm

Mon-Wed Oct 27-29 9am-5:30pm

Thur-Fri Oct 30-31 9am-7pm

Sat Nov 1 9am-1pm

SAME DAY REGISTRATION-Voters are allowed to register and vote at one stop sites.

It is quicker and easier to register in advance, but if you have not registered you can do

it at one stop with proper identification. (This same day registration is not allowed at the

precincts on election day.)

VOTING IS THE

CORNERSTONE

OF DEMOCRACY

YOUR VOTE IS YOUR VOICE

REGISTER NOW & VOTE

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With 25,000 + distinguished alumni nationwide

YOU are no ordinary individual,

YOU are the future of the NCCU alumni legacy,

YOU are an Eagle,You possess power and soar toward greatness, so

Go forth and excel humbly through service!

Eagle PrideAMPLIFIED!!!

Go to NCCUALUMNI.org to find a chapter

in your area

or email [email protected] for

more information!

NCCU National Alumni Association, Inc.

YOU CAN MAKE A WORLDOF DIFFERENCE.

T H E W O R K O F A N A T I O N . T H E C E N T E R O F I N T E L L I G E N C E .

NATIONAL CLANDESTINE SERVICE CAREERS

CENTRAL INTELLIGENCE AGENCY

Be a part of a mission thats larger than all of us. The CIAs NationalClandestine Service seeks qualified applicants to serve our countrys mission abroad. Our careers

offer rewarding, fast-paced, and high impact challenges in intelligence collection on issues of

critical importance to US national security. Applicants should possess a high degree of personal

integrity, strong interpersonal skills, and good written and oral communication skills. We welcome

applicants from various academic and professional backgrounds. Do you want to make a difference

for your country? Are you ready for a challenge?

All applicants for National Clandestine Service positions must successfully undergo several personal

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investigation. Following entry on duty, candidates will undergo extensive training. US citizenship

required. An equal opportunity employer and a drug-free work force.

For more information and to apply, visit:www.cia.gov

7/27/2019 Campus Echo 10/15/08

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11A&EN O R T H C A R O L I N A C E N T R A L U N I V E R S I T Y


Campus Echo

Prof honors MandelaBY LARISHA J. STONEECHO STAFF WRITER

My commitment is to improving

the quality of life for us, Joseph tolda crowd of students Tuesday in the

B.N. Duke Auditorium.Joseph spoke as part of N.C.

Central Universitys Nelson MandelaCelebration.

As U. S. Ambassador to SouthAfrica from January 1996 to

November 1999, he was the firstambassador to present credentials to

President Nelson Mandela.James A. Joseph was born in

Louisianas third oldest city,Opelousas.

He did not venture too far from

home for undergrad, attendingSouthern University in Baton Rouge,La.

After Yale Divinity School, Josephmoved to Tuscaloosa, Ala. to teach at

Stillman College, where he helpedorganize the local civil rights move-

ment in 1963.Before serving as an ambassador

in South Africa, he was the firstchairman of the board of directors of

President Clintons Corporation forNational Service.

Joseph served under three otherU.S. presidents. He was Interiorundersecretary and chairman of thepresidentially appointed Commissionon the Northern Mariann in theCarter administration.

Under President Reagan, he was amember of the Advisory Committeeto the Agency for InternationalDevelopment; and incorporatingdirector of the Points of LightFoundation.

Under President George H.W.Bush, he served as a member of thePresidential Commission on

Historically Black Colleges.At NCCU, Joseph reminded stu-

dents to always maintain a commit-ment to the community that gave youbirth. Dont forget where you comefrom no matter how high you rise,he said.

Solomon Burnette, history senior,asked Joseph, How does one goabout affecting transfer of economic

wealth in South Africa andAmerica?

Joseph informed students that inorder for reconciliation to occurthere would have to be economic ref-ormation, which dont always occuras fast as political reformation.

He is the author of two books, TheCharitable Impulse (1989) andRemaking America (1995), and is nowat work on a book that focuses onethics in public life.

He has taught at Yale DivinitySchool and the Claremont Colleges.

Joseph is professor of the practiceof public policy studies at the TerrySanford Institute of Public Policy andleader-in-residence at the HartLeadership Program at Duke

University.I have a responsibility to returnsomething to our community, hesaid.

Gary Brown, dean of Greek Affairs,has been on the planning committeefor the lecture since the beginning.Weve been planning this for awhile, he said.Were happy that itsbeen a success.

Ambas

s

a

dor Jame

s Jos

eph spe

aks with students in

B.N. Duk

e Audit

orium Tu

e

sday.

SAVINJOSEPH/Echo Photo Editor

OCT 22 NOV 9Center for Dramatic Art, UNC-Chapel Hill

playmakersrep.org919.962.PLAY (7529)

A soul-searching journey begins when aprofessors wife leaves him on the eve of the MillionMan March. Through a night of visits from the spiritsof his ancestors, their stories and songs help himreconnect with his cultural heritage. Tony Award-winning Trezana Beverley, director ofToni Morrisons The Bluest Eye, returns toPlayMakers!

Vagina, anyone?Vagina Monologues back once again to open eyes and ears.

BY COURTNEY MORGANECHO STAFF WRITER

Say The Vagina Monologues outloud. What is the first thing thatcomes across your mind?

Is it feminism, abuse, pain or

neglect?Or is it rape, strength, courage

and breakthrough?The Vagina Monologues is a

production put on by college cam-puses across the nation as a part ofthe V-Day celebration.

According to the V-Day Web site,V-Day is a global movement to stopviolence against women and girls.

V-Day generates broader atten-tion for the fight to stop violenceagainst women and girls, including,rape, battery, incest, female genitalmutilation and sexual slavery.

The play, which has been going

strong since 1998, celebrateswomens strength and courage.

Written by Eve Ensler, TheVagina Monologues tells the storiesof women who have faced sexualabuse and assault.

In 2006, Dr. Francis Graham

assisted in bringing the monologuesto NCCU, making it the first histori-cially black co-educational school toperform The Vagina Monologues.

I attended the first productionof the monologues at Central, Ienjoyed it then, and I am so lookingforward to it now, said TiffanyWhitehead, history senior.

The words spoken throughoutthis production inspire me as awoman.

The monologues make me proudto have a vagina, said Whitehead.

This February, VOX: Voices ofNCCU, will put on its production of

The Vagina Monologues.Auditions, which are being spon-

sored by Sigma Phi Beta Inc, VOX,and the NCCU Womens Center, areopen to women on every campus,and will be held today at 5:30 p.m.in Ruffin Hall.

Senior hospitality and tourismmajor Theresa Garrett, lead organ-izer for V-Day 2009 and co-founderof VOX, encourages women to comeout and be a part of this upliftingevent.

Just think of The VaginaMonologues as females sitting downand talking about their own person-al stories that may have changedtheir lives.

This play gives women thecourage to never forget but at thesame time the strength to get overtheir issues that may be holdingthem back.

V-

d

ay 20

09 judges list

en int

en

sely auditionin

g new cast members.


Janelle

Mone

Metropolis: The

Chase SuiteAtlantic Records

4out of5 on theblack hand side

Dont think that an albumalready in circulation does-nt deserve its props.

Yes world, I give youJanelle Monae.

Thisyoung,inventiveartist is tak-ing themusic sceneby storm.Metro-polisSuite 1 ofIV : TheChase takeseveryone ona futuristic

journey withMs. Monaesalter ego,

android Cindi Mayweather,a heroine in 2719 facingchallenges to not feelhuman emotions.

The album is a take onthe space-age 1927 Germanfilm Metropolis by FritzLang.

Monaes Metropolis is amelting pot of rock, soul,funk and a hint of jazz.

Although when first lis-tening to the music, I gotthe feeling that I was listen-ing to Prince, I also get me

the vibe of a New AgeLauren Hill.

Its been a while sincesomeone has come alongwith such creativity anddiversity and is not just set-ting the tone with the every-day bitter black womanapproach.

Although thats neededtemporarily, it gets old.Favorite tracks on thealbum include Many

Moons, a funky cyber sonictune that reminds me of themovie Charlie and theChocolate Factory.Violet Stars Happy Hunt-ing

is anupbeat,high-energypiece,with aguitarbreakthatsendschillsand lastbut notleast,thelyrics.

Sincere lyrics.Jane takes me back to

the 1963 orchestra set of theclassic Pink Panther, withthe orchestration in theback mist of this track isvery enticing.

Monae is full of funk,high energy, and a breath offresh air that we all need.Welcome to Metropolis.World, I give you CindiMayweather.

Chasity Nicole

B a r a c k Oba m a

M i c h e l l e Oba m a

J o e B i d e n

S a r a h P

J M A C

12345

1234

123

12

WHAT?

Girl got a good job so baby aint broke/ come hop in my shower I'll be your

soap/ Girl so fine I'll drink your bath water.

Paul Wall ft. Akon Girl On Fire

This has got to be the most corny line ever. And drinking bath water is so

original.

So, next time you ask yourself how Paul Wall got that girl on his

side remember, it was the money and not the game he talks.

Wade Banner

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12Campus Echo


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University Career Ser

vicesWilliam Jones Building, Room 005

560-6337

University Career Services is the students

focal point for career planning. We offer

career counseling, part-time job place-

ments, internships, and cooperative edu-

cation placements in both the private and

public sectors.

We offer workshops on resume writing,

inteviewing, cover letter writing, and stress management.

Plus, in our Glaxo Career Library, youll find career-related videos,

brochures, pamphlets, and magazines, as well as graduate school

catalogs and annual reports all there for you to review. Call for

an appointment or drop by to meet with one of our counselors.

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Sports 13Campus EchoWEDNESDAY, OCTOBER 15, 2008

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Books meet braun at Dunn buildingN.C. Central Univesity athletes benefit from mandated academic program

Blue Hose slip one by Eagles

NCCU FUMBLES ONE-YARD SNAP FOR THE WIN AGAINST PRESBYTERIAN COLLEGE

BY ASHLEY GRIFFINECHO SPORTS REPORTER

When the AlexanderDunn Building comes tomind, many N.C. CentralUniversity students auto-matically worry about how

theyll meet their communi-ty service requirements.

But, to NCCUs athletes,the building is a place theyget help with their studies.

The ComprehensiveAcademic Support Center,better known as studyhall for athletes, isdesigned to help studentssucceed in the classroom.

The center opened in1993 under the guidance offormer chancellor Julius L.Chambers. He noticed thatathletes were blooming intheir particular sport butstruggled in their classes.

Chambers worked withAnn Edmonds, director ofthe ComprehensiveAcademic Support Center,

to open the help center forthe athletes.

When making the transi-tion from high school to col-lege, most students have notlearned proper study habits

and have poor time man-agement skills, Edmondssaid

The program was fundedthrough the chancellorstrust fund until 2006, whenthe state started picking upthe tab.

Womens volleyballcoach Georgette Crawford-Crooks said she has seenher players grades improveeach year after attendingstudy hall.

Last semester, only threeout of 15 volleyball playershad a GPA under 3.0.

It helps (athletes) withtime management andteaches discipline, shesaid. You have to figureout how you will map outyour entire week withgames, practice and schoolwork.

One of the more popularservices offered by the cen-ter is individual peer tutor-ing.

We pick our student

tutors on how well theyexcel in their classes andwhat subject is needed atthe time, Edmonds said.

Athletes can be tutoredin math, science, English

and foreign languages,among other subjects. Thefree program is open to allundergraduates.

Being a student tutorhas enabled me to give backto my fellow students, saidbiology junior Naima

Stennett, who has tutoredstudents in math, French,biology and chemistry for ayear.

When I am able to helpothers, it makes me feelgood.

Getting the grades maybe one thing, but makingsure athletes continue topush for higher academicachievement involves a lit-tle extra supervision.

The center also providesclass attendance monitor-ing, where counselors wille-mail professors about anathletes class attendance,participation and progres-sion.

The How to Studyworkshops are popular bythe center. These work-

shops show students how totake notes, make the mostout of their study time andhow to manage theirresponsibilities.

Athletes are mandated toattend study hall, and whilesome oppose the mandate,others like the extra help.

I find study hall veryuseful, said mens basket-ball forward Dami Sapara.They have everything Ineed in there to make sureall my work gets done ontime, he said.

I know in the long runthis program will help mebecome a better student.

The center is openMonday-Thursday, 8 a.m.-9p.m. and Friday, 8 a.m.-5p.m.

Junior track long jumper Michael Edwards w

orks on a p

aper

in the Ale

xander Dunn building bef

or

e hitting the track.


BY AARON SAUNDERSECHO SPORTS REPORTER

With 39 seconds left, theN.C. Central Universityfootball team was withininches of scoring the game-

winning touchdown.But a bobbled snap on

the 1-yard line derailedthat chance and gavePresbyterian College the

28-24 victory on Saturday.Shock and awe set in on

the Eagle players and theirfans.

They were in disbeliefthat they could not punch itin from inches away.

The fumble was indica-tive of how the Eagles sea-son has gone so far.

The Eagles came out alittle sluggish in the first

drive, going three and outand being forced to punt.

The Blue Hose alsostruggled to find theirrhythm early.

The Blue Hose struckfirst with a 1-yard touch-

down run by quarterbackBrandon Miley.

The Eagles answeredback with a 52-yard, 12-play drive that lasted

almost 7 minutes. It wascapped by a 1-yard touch-down run by fullbackGeorge Mobley.

In the third quarter, theEagles found themselvesdown 28-10 when third

string quarterback MichaelJohns on, a transfer fromUniversity of Tulsa,entered the game.

It didnt take long for

Johnson to fi nd his rhythmas he hit wide receiver WillScott for a 52-yard touch-down pass on his secondpass of the season.

On the next driveJohnson cont inue d his

onslaught on the Blue Hosedefense with another longtouchdown pass a 24-yarder to wide receiverWayne Blackwell.

With 3:54 left in the

game, the Eagles defensestepped up big time, forc-ing the Blue Hose to puntafter three plays.

The Eagles took over attheir own 40-yard line andthe stage was set for theultimate comeback.

Afte r being sack ed onthe second play, Johnsoncompleted a screen pass towide receiver DeshawnSpears, for 37-yards.

With the ball on the 19-yard line and 47 seconds togo, the Eagles handed theball to running back TonyMcCord for an 18-yard run,which put the Eagles onthe 1-yard line and on theverge of their second con-secutive win.

But it just wasnt theEagles day. After battlingback from an 18-pointdeficit, NCCU could notcomplete the comeback.

However, there wereplenty of bright spots forthe Eagles in the heart-breaking loss.

The defense once againstepped up big by forcingtwo turnovers. Quarter-back Johnson completed 8of 9 passes for 159 yardsand two touchdowns.

Neither Coach MoseRison nor any of his play-ers were available for com-ment.

The Eagles look tobounce back next week as

they travel to Conway, S.C.

to face Coastal CarolinaUniversity, led by talented

rushing trio Eric ONeal,

Arthur Sitton, and Jamie

Fordham.

NC

CU s

ophom

or

e s

afet

y J

effery Hender

s

on (#8) an

d s

ophomor

e def

enisive linem

an Ter

yl White (#50)shar

e a ta

ckle on Presby

t

erian runnin

g b

a

ck S.J. W

orr

ell at Pr

esby

terian.

ROBERT LAWSON/Office of Public Relations

They have everything I need to make sure all my

work gets done on time. I know in the long run this

program will help me become a better student.

DAMI SAPARABASKETBALL, SMALL FORWARD

6216 Fayetteville Road, Suite 105

Durham, N.C. 27713

919.405.7000

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7/27/2019 Campus Echo 10/15/08

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7/27/2019 Campus Echo 10/15/08

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A CAMPUS ECHO PUBLICATIONOCTOBER 15, 2008ELECTION SPECIAL

BY CHI BROWNECHO STAFF WRITER

This years election hasmany people looking at thefactors that shape whetherpeople go to the polls.

Key factors include:education, income, age,race and gender.

Additionally, Southernersvote less than other

Americans.Education also plays a

significant role in whomakes it to the polls.

According to the 2004voting and registration sta-tistics reported by the U.S.Census Bureau, 84.2 per-cent of persons who heldadvanced degrees voted,while persons with any-thing less than a highschool education only had

a 39.5 percent voterturnout.

Those with more edu-cation have more incomeand therefore may havemore of a stake in whathappens in terms of poli-tics and public policy, said

Jarvis Hall, associate pro-fessor of political science.

Income also helps deter-mine who votes.

Families who made$100,000 or more in 2004had an 81.3 percent voterturnout, while familieswho made under $20,000only had 48.3 percent voterturnout.

Certainly, poor peoplewould have a stake interms of health care issues,

Greetings Eagle Family,

First let me say thank you tothe hundreds of studentswho have registered to vote.

The ability to vote is onethe greatest Constitutionalrights we have as Ameri-

cans.Our ancestors fought,

m a r c h e dand diedso wecould havethe right tovote.

S ov o t e what bet-ter way tosay thankyou to thep e o p l ewho madevoting pos-sible atall?

Your vote will help deter-mine the next four years of

our lives.I am sure most of you arenot pleased with the currentstate we are living in, so Ihave come up with KentsTop Five Reasons to Vote.

I hope they will give youmore reasons to vote.1. To bust the stereotype:Young people are lazy, theydon't care, they won't vote.Let's prove them wrong.2. To honor our history: Aslong as this country hasexisted, there have been

KentWilliamswants you

to vote

Who votes,who doesnt

n See V

OTER

S Page 3

n See WILLI

AMS Page 2

Historic shift may be in cards

Taking a roadless traveled

This NCCU black Republican looks right,as most others on campus look left

BY MATTHEW BEATTYECHO STAFF WRITER

Most N.C. CentralUniversity students aresporting Barack Obama T-shirts and buttons this fall,but one students loyalty isfor John McCain and theRepublican Party.

Political science sopho-more Courtney Jordan grewup in a home where he wasfree to make his own deci-sions.

But Jordan admits hestorn between who he willvote for for president of the

United States.

I would like to vote for[Obama], but just becausehe looks like me doesntmake him the best candi-date, he said.

He can also hurt futureAfrican-Americans whodecide to run if he doesntdo the best job in office. Ihave to look at the candi-date who will benefit me.

Jordan rejects the stereo-type that Republicans areself-centered, rich andracist.

Hes working on a benefitconcert that will help a

number of causes, including

relief efforts in Haiti andscholarship money for aNCCU student, and is help-ing to get young people tovote.

Most people think a badRepublican is a BushRepublican, he said.

Everyone isnt like that.The facts are there as towhat he did no denyingthat but everyone isntlike that. There are someDemocrats who fit the

KENT

WILLIAMS

REASONS

TO VOTE

2008elections

60%

40%

20%

0%

White African-

American

Latino

African-Ameri

c

an Youth Age

s 15-25

Le

ast Likely to View Voting a

s Imp

ortant

Con

sider voting impor

tant D

ont c

onsid

er v

otin

g important

Source: Council for Excellence in Government

Cour

trney Jor

d

an say

s the Republicans h

av

e a strong

er

r

e

cord of pr

omoting individual r

esp

onsibilit

y.

MITCHELL WEBSON/Echo Staff Photographer

n See REPUBLIC

AN Page 3

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2008 ElectionCAMPUS ECHO PAGE 4 10.15.2008

KE

Y PHILOSOPHICAL POSITIONS OF LIBERALS AND CONSERVATIVES

Conser

vativeAb

or

ti

on

Human life begins at conception. Abortion is the mur-

der of a human being. Support legislation to prohibit

partial birth abortions.

Af

firmativ

e action

People should be admitted to schools and hired for

jobs based on their ability. It is unfair to use race as a

factor in the selection process. Reverse-discrimination

is not a solution for racism.

De

ath p

en

al

t

y

The death penalty is a punishment that fits the crime;it is neither cruel' nor unusual'. Executing a murderer

is the appropriate punishment for taking an innocent

life

Economy

The free market system, competitive capitalism, and

private enterprise afford the best opportunity and the

highest standard of living for all. Free markets produce

more economic growth, more jobs and higher stan-

dards of living than those systems burdened by exces-

sive government regulation.

Educ

ati

on - s

chool v

ouch

er

s

School vouchers will give all parents the right to choose

good schools for their children, not just those who can

afford private schools. Parents should decide how and

where to educate their child.

Th

e Envir

onm

ent

Desire clean water, clean air and a clean planet, just

like everyone else. However, extreme environmental

policies destroy jobs and damage the economy.

Changes in global temperatures are natural over longperiods of time.

Gun c

ontr

ol

The Second Amendment gives the individual the right

to keep and bear arms. Gun control laws do not thwart

criminals. You have a right to defend yourself against

criminals.

He

al

th c

ar

e

Free healthcare provided by the government (social-

ized medicine) means that everyone will get the samepoor-quality healthcare. The rich will continue to pay

for superior healthcare, while all others will receive

poor-quality free healthcare from the government.

Health care should remain privatized. Support

Healthcare Spending Accounts.

Hom

el

and securi

t

y

Wary of parts of the Patriot Act.

Immig

rat

ion

Support legal immigration but do not support illegal

immigration. Government should enforce immigra-

tion laws. Oppose President Bush's amnesty plan for

illegal immigrants.

Reli

gion

The phrase "separation of church and state" is not in

the Constitution. The First Amendment to the

Constitution states "Congress shall make no law

respecting an establishment of religion, or prohibiting

the free exercise thereof..." This prevents the govern-

ment from establishing a national church. However, it

does not prevent God from being acknowledged inschools and government buildings. Oppose the

removal of symbols of Christian heritage from public

and government spaces. Government should not

interfere with religion and religious freedom.

Same

-se

x marriage

Marriage is between one man and one woman.

Opinions differ on support for the creation of a consti-

tutional amendment establishing marriage as the

union of one man and one woman.

S

oci

al S

e

curit

y

The current Social Security system is in serious finan-

cial trouble. Changes are necessary because the U.S.

will be unable to maintain the current system in the

future. Support proposal to allow a portion of Social

Security dollars withheld to be put into an account cho-

sen by the individual, not the government.

Taxes

Support lower taxes for higher income groups and a

smaller government. Lower taxes create more incen-

tive for people to work, save, invest, and engage inentrepreneurial endeavors.

Uni

t

e

d Nati

on

s (UN)

The UN has repeatedly failed in its essential mission: to

preserve world peace. History shows that the United

States, not the UN, is the global force for spreading

freedom, prosperity, tolerance and peace. The U.S.

should never subvert its national interests to those of

the UN.

War in Iraq

This was a preemptive strike to protect the U.S. All intel-

ligence indicated that Saddam Hussein possessed and

used weapons of mass destruction (WMDs) in the past

and was prepared to use them again. He would not

allow United Nations weapons inspectors to confirm

his claim that he had destroyed his WMDs. A democra-

cy can succeed in Iraq if the people are given the

opportunity to create one. All people want to live in free-

dom

War on t

err

or/t

err

orism

The world toward which the Militant Islamists strivecannot co-exist with the Western world. Militant

Islamists have repeatedly attacked Americans and

American interests here and abroad.

W

el

far

e

Oppose long-term welfare. We need to provide opportu-

nities to make it possible for poor and low-income

workers to become self-reliant.

Liberals

Ab

or

tionThe decision to have an abortion is a personal

choice; the government should stay out of it,

including partial birth abortion.

Affirmative Action

Support affirmative action based on the belief

that America is still a racist society. Due to

prevalent racism in the past, minorities were

deprived of the same education and employ-

ment opportunities as whites. We need to make

up for that.

Death p

enalt

y

We should abolish the death penalty. The death

penalty is inhumane and is cruel and unusual

punishment. Every execution risks killing an

innocent person.

Ec

onomy

Favor a market system in which government

regulates the economy. We need government

regulation to level the playing field. Unlike theprivate sector, the government is motivated by

public interest.

Education - scho

ol v

ouch

er

s

School vouchers are untested experiments. We

need to focus on more funding for existing pub-

lic schools in order to raise teacher salaries and

reduce class size.

The Envir

onm

ent

Industrial growth harms the environment. Global

warming is caused by an increased production of

carbon dioxide. The U.S. is a major contributor to

global warming because it produces 25% of the

world's carbon dioxide. The U.S. should enact laws

to significantly reduce that amount.

Gun contr

ol

The Second Amendment gives no individual the

right to own a gun, but allows the state to keep a

militia (National Guard).

Health c

ar

e

Support universal government-supervised health

care. There are millions of Americans who can't

afford health insurance. They are being deprived

of a basic right to healthcare.

Homeland security

Oppose the Patriot Act.

Immigration

Support legal immigration and increasing the

number of legal immigrants permitted to enter the

U.S. each year. Support blanket amnesty for cur-

rent illegal immigrants.

Families shouldn't be separated.

R

eli

gion

Support the separation of church and state.

Religious expression has no place in government.

Support the removal of all references to God in

public and government spaces. Religion should

not interfere with government.

Same-s

ex marriageMarriage should be legal for gay, lesbian, bisexual

and transgender couples to ensure equal rights

for all. Believe that prohibiting same-sex citizens

from marrying denies them of their civil rights.

Opinions differ on whether this issue is equal to

civil rights for African Americans.

So

cial Securit

y

Generally oppose change to the current Social

Security system. Changing the current system will

cause people to lose their Social Security benefits.

Support a cap on Social Security payments to the

wealthy.

Tax

es

Support higher taxes and a larger government if

needed to solve social problems. High taxes

enable the government to do good and create

jobs.

United Nations (UN)

The United States has a moral and a

Campus Echo 10/15/08

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