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Professor’s offer
gets an T9
By Editorial Staff
■ Columbia Spectator
Columbia U., NY
Adjunct Business School Profes
sor Asher Edelman thought stu
dents in his corporate merger class
needed a little something to fire
them up about the coursework. So
Edelman, one of Wall Street’s lead
ing raiders, came up with the per
fect incentive: a $100,000 finder’s
fee to a student who could come up
with a suitable corporation for
Edelman to take over. Great, right?
Now there’s a real reason to hit
those books. But then that stodgy
old B-School Dean John Burton be
gan to rain on the money parade.
“Totally inappropriate,” he said,
forbidding the reward. And Edel
man’s unhappy students had to go
back to grubbing for grades instead
of money.
What’s the problem, some stu
dents ask? Incentives like Edel
man’s are part of the real world of
business, and they have a legiti
mate teaching role in the graduate
program. But the question is
whether an academic institution
should be reinforcing the seedy
Wall Street sentiment that money
chasing—rather than corporate
efficiency, worker satisfaction or
increased productivity—is the
summum donum of business enter
prise. Edelman’s offer perpetuates
a flawed and dangerous notion—
that the only things worth doing
right are those that pay off big.
Even The New York Times sees
Burton’s insistence on “academic
purity’ as unreasonably idealis
tic—especially at the B-School,
where making money the new
fangled way is the raison d’etre.
But if you can’t advocate ideals in
the university setting, where can
you? The goals of classroom learn
ing must be broader and more ethi
cally sound than the goals of the
average Wall Street grind.
The business program, however
closely linked to Wall Street, has a
responsibility to teach not only
what is, but what should be. No one
expects professors training stu
dents for the cut-throat world of
business to be ivory tower idealists.
But the B-School remains an
academic institution, and some
academic conventions must be re
spected—like the very basic idea
that professors don’t pay their stu
dents for in-class performance.
Stodgy old Dean Burton was right.
COMMUNITY LIFE
Buddies
American U.’s Big
Buddies offer more than
just ‘help with homework '
Page 12
YOUR MONEY
Scraping by
Students budget to
prevent skimpy meals at
month's end.
Page 11
CAREERS
Finance jobs alluring
Finance management jobs
attract students from all
walks of life.
Page 10
ECONOMICS
Teeing off in business
Golf is an advantage in
the business game.
Page 10
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Tough new law cuts GSLs
Students face \
hard times
By Michelle Allen
■ The Daily Kent Stater
Kent State U., OH
Experts from the U S. Department of
Education project a 15 percent reduc
tion in the number of GSLs awarded to
undergraduates and 25 percent for
graduate students, according to the
Chronicle of Higher Education.
In 1986, Edward Irish, former Kent
State associate director of Student
Financial Aid, conducted a study on the
impact the 1986 Higher Education
Amendment would have on the GSL
program at Kent State.
Last year 6,571 students received
GSLs. The study projects that of that
same number, 3,749 students will re
ceive reduced GSLs. Of these 3,749 stu
dents, 806 will not be eligible for any
GSL. Last year Kent State certified a
total of $13,000,160 in GSLs. This year,
according to the study and the associate
director of Student Financial Aid Theo
j dore Hallenbeck, KSU is projected to
I certify $3,087,823 less.
Kent State administrators were anti
cipating reductions in loans since Con
gress made changes last year, but few
students were prepared for the cuts.
Shelly Wilson, 19, a junior interior
! design major, lost $2,300 of her GSL
this year. Wilson has received the max
imum amount available, $2,500, for the
past two years. This year she is eligible
for only $200.
“My family is struggling to keep me in
school,” she said “Two hundred dollars
won’t even buy my books.”
Speculating about why her GSL was
so dramatically reduced, Wilson said, “1
guess it is due to the new laws consider
ing parents’ assets when calculating
how much families can pay for college.
“We’re not rich. We bought a new
house which is highly valued and this
took my GSL away. Being an out-of
state student, I need the financial aid
even more.”
According to an article in the Con
gressional Quarterly, congressional
aides say lawmakers cut the number of
students eligible for loans when revis
ing the Higher Education law in an
effort to curb the loan program’s grow
ing cost.
See GSLs, Page 12
Laid back dude’ rents mini fridges
cc
2
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Greg Wadley hates normal jobs, so he began his own refrigerator rental service.
By Sarah Stettler
■ Daily Nexus
U. of California, Santa Barbara
“I like to go out with my friends. I like
to get wild. But—I don’t know. Some
times my brain just won’t stop thinking
about it—ways to try to make money.
Everything I see—it’s like psychotic,”
U. of California, Santa Barbara sopho
more Greg Wadley said.
Wadley surfs, he parties, he’s into
sports—but there is something diffe
rent about him. He has a certain entre -
preneurial air.
Wadley s motivation comes from a
fierce sense of independence combined
with a marked distaste for the ordinary.
“I hate working for hourly wages.
Whenever 1 get a job, I end up hating it
within three weeks."
He also has an eye for opportunity.
“You see something that works in
another town, something that you
might need, then other people need it
too,” he said. When asked about his
apparent preoccupation with devising
new ways of making money, Wadley
said, “It doesn't really bother me that
much. It just gets out of hand some
times when it’s (money ) the only thing I
can think about. It usually goes away. A
few beers and it goes away.”
At Francisco Torres dorm, where
Wadley lived last year as a freshman,
there was a large demand for dorm re
frigerators but a small supply. The re
frigerators FT. offered for rent were
also “really expensive" and the students
had to transport them to and from their
rooms on their own, Wadley said. So he
bought 10 dorm fridges from a refrigera
tor distributor. He posted signs and
waited, but not for long. At $65 per year,
plus a $15 returnable deposit, his hunch
was right on the money—the service
was appealing, especially to cost
conscious freshmen who didn’t want to
deal with F.T.’s system.
His refrigerators were newer, cheap
er and he offered drop-off and pick-up
service. He arranged a maintenance
agreement with a private company,
rented a truck to transport the re
frigerators, and delivered them to wait
ing customers within a few days of their
order.
After the students were done with his
refrigerators in June, he retrieved them
with few problems. The only difficulty
arose during finals, when Wadley found
himself sharing his tiny dorm room
See Fridge, Page 12