Thursday. February 18. 1999
The University Daily Kansan
Section A · Page 3
Senate approves fee increase
By Nadia Mustafa
Kansan staff writer
Kansan staff writer
Student Senate passed a $2 student fee increase last night.
The increase — from $6 to $8 — was to the Educational Opportunity Fee, which is the portion of campus fees that awards funds each fall to academic departments and student organizations for need-based grants and student salaries for community service or employment in campus service programs.
Nicole Skala, fee review subcommittee chair and the bill's sponsor, said that student groups had requested almost $600,000 last fall, but only $276,000 was available.
Erika Nutt, Social Welfare senator, said that the EOF was the most valuable student fee. She said that the only reason it had not been increased by the Board of Regents in the past was because of the bureaucracy involved.
"Generally, my constituents are not in favor of increasing student fees," Nutt said. "But I think they would support this increase because not only does it go to under-represented students, but also because it is the most socially just fee."
Student Senate
In other business, Senate passed the following legislation:
■ A resolution supporting the establishment of student representative seats for minority groups at Big 12 Conference universities.
Marlon Marshall, Engineering senator and EOF committee member, said that he did not think the fee should be increased because many of the funds were used to pay hourly student salaries which should have be paid for by the University of Kansas, not by students.
A bill to finance the KU Student Lecture Series' possible speaker, South African Bishop and Nobel Peace Prize Winner Desmond Tutu.
He said that last fall every group that applied
Bills to finance the Asian-American Festival, International Awareness Week, Commission on the Status of Women and Engineering Expo '99.
for funds was granted at least a portion of what it asked for, and that the fee increase would just encourage student groups to request more money.
Partha Mazumdar, graduate senator, said that the fee increase should have been put to a student body referendum.
He said that many senators violated their campaign slogan of, "Have a say before you pay," by voting for the fee increase
without student body consent.
The EOF was awarded to 31 organizations last fall, including the KU McNair Scholars Program, Graduate Minority Recruitment Program, Office of Student Financial Aid, and School of Social Welfare.
If the fee increase is approved by the chancellor and the Board of Regents in April, it will go into effect this fall.
— Copvedited by Keith Burner
Lecture features connection between Asian economic crashes, globalization
By Kris M. Elliott Special to the Kansan
The United States should consider the recent economic collapses in Asia in relation to one another, said Clyde Stoltenberg, professor of business.
Stoltenberg gave a lecture called "Japan and Its Asian Neighbors: The Financial Debacle" yesterday. About 40 people attended the lecture, which was part of the University Forum series at Ecumenical Christian Ministries, 1204 Oread Ave.
Stoltenberg said that the United States made the mistake of looking at events such as economic collapses in Thailand, Korea and Singapore as separate events instead of comparing them to the state of the global economy.
"Globalization has tied national and local economies ever closer together." Stoltenberg said.
Stoltenberg said that investors needed to be aware that changes in
the value of money and property was cyclical.
For example, he said that in 1980, his father could have sold his farm for $4,000 an acre. His father didn't sell the land, and the value quickly dropped. However, when the land was sold last year, his father received nearly as much as he would have in 1980.
"If my dad's farm land took 18 years to get back to its value, these problems aren't going to be wrung out very quickly." Stoltenberg said.
Stoltenberg said that the world economy was unstable because people were investing differently. Investments that used to be in tangible transactions, such as real estate, have changed to portfolio investments, including bonds and stocks, which can move in and out of an economy rapidly.
Stoltenberg said that $1.25 trillion was traded daily across borders. This meant that one week's trade
transactions were equal to the gross national product of the United States for one year.
Despite the instability of several Asian economies now, Stoltenberg said that he would rather invest in them instead of the U.S. stock market because he believed the worst is through for those countries.
"I'm not putting money in the stock market these days," he said. "I would put money in Korea. Korea strikes me as being through the worst."
Molly Yu, a graduate student from China, said the speech did a good job of showing how Asian economies were related to each other.
She said that she often spoke with her friends in Beijing about the Asian financial crisis.
"This speech was not just about China," Yu said. "It addressed the issue from a different perspective. It helped me see where the crisis started out."
- Copyedited by Melody Ard
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