MIT Alumnus Thain Chosen to Lead Merrill Lynch
John A. Thain ’77 won plaudits as Wall Street’s Mr. Fix-It by revitalizing the embattled New York Stock Exchange. Now, he faces what could be a more formidable challenge: turning around Merrill Lynch, the once-proud Wall Street firm battered by losses from the mortgage debacle.
MIT Sophomore Arrested at Logan For Wearing LED Device
Star A. Simpson ’10, wearing a circuit board that lit up and was connected to a battery, was arrested at gunpoint at Logan International Airport this morning and was charged with disorderly conduct and possession of a hoax device. Simpson was released on $750 bail earlier today; her pre-trial hearing is scheduled for Oct. 29, 2007 at 9 a.m. in East Boston District Court.
Five Injured by Sodium in Charles River Fire
Five burn injuries from a boat fire on the Charles River Thursday appear to have been caused by sodium, said Jake Wark, spokesperson for the Suffolk County District Attorney’s Office. Local media sources reported that the sodium may have come from Sodium Drop, an MIT tradition in which sodium is thrown into the Charles River so that students can watch its violent reaction with the water.
Cambridge City Council Unofficial Election Results
Cambridge City Council Unofficial Election Results
University Presidents Given Increasingly Fat Paychecks
Soaring compensation of university presidents, once limited to a few wealthy institutions, is becoming increasingly common, with the number of million-dollar pay packages at private institutions nearly doubling last year, and compensation at many public universities not far behind.
Study: Int’l Students Added $14.5 Billion To Economy in ’06-’07
While foreign students at American colleges and universities are most often singled out for their scientific and cultural contributions, their growing numbers help make them an increasingly important economic force as well, according to a new report from the Institute of International Education.
Commerce Under Secretary Visits MIT, Talks Shop
<i>The Under Secretary of Commerce for Industry and Security, Mario Mancuso, was on campus last Tuesday, Nov. 6, visiting with upper level administrators. During his visit, Mancuso met with </i>The Tech<i> and talked about his job and how it impacts the MIT community.</i>
UA, GSC Pass Resolutions, Bills Aimed at Improving Student Life
The Undergraduate Association and Graduate Student Council are moving forward on a number of resolutions and programs aimed at improving student life and addressing student concerns, including a new UA fund to support student initiatives and a large-scale GSC survey which will assess graduate student needs and cost of living.
Eight Members Retain Seats; One Newcomer Elected to City Council
Eight incumbents and one newcomer won election to the nine-member Cambridge City Council in the Nov. 6 elections, according to unofficial results released by the City of Cambridge Election Commission last week. Henrietta Davis, a councillor since 1996, received the highest number of top votes.
John Jackson
A strange thing happened Oct. 19 at MIT’s Delta Kappa Epsilon fraternity house: The pilot light on the main Vulcan stove in the kitchen where John Jackson had cooked for half a century suddenly went out. About the same time, current cook Tom Egan, who had been baking pizzas, said he received a phone call from an alumnus telling him of Mr. Jackson’s death.
MIT Sues Gehry Firm Over Stata Problems
MIT has filed a lawsuit against Frank O. Gehry, the architect of the Ray and Maria Stata Center, and Skanska USA Building Inc., the construction company that built the Stata Center. MIT alleges that Gehry was negligent in designing the building and that both Gehry and Skanska breached their contractual obligations.
MIT Car Places Fourth in DARPA Challenge
After months of planning, building, coding, and troubleshooting, Team MIT arrived with its autonomous car at the finals of the Defense Advanced Research Projects Agency Urban Challenge on Saturday, Nov. 5 as one of 11 teams out of the original field of 89. The car — pushed to its limits — finished the race alongside only five of its competitors.
Senior Gift Aims for 55 Percent Donation Level
The Senior Gift campaign kicked off last night, challenging seniors to donate to MIT and reach 55 percent participation rate. This year’s senior project, a fund for students taking unpaid externships over the Independent Activities Period, was also unveiled.
In Short
The Committee on Race and Diversity has been formed to advance race relations within the community. The new committee, which absorbed the Campus Committee on Race Relations and the MLK Celebrations Committee, will administer grants managed by the CCRR and will sponsor the MLK Breakfast in February. Faculty race and diversity issues remain under the provost’s race initiative.
News Briefs
Anna Tang, the Wellesley College junior accused of stabbing Next House resident Wolfe B. Styke ’10, was ordered held without bail on probable cause in a Nov. 7 dangerousness hearing. Tang, who pleaded not guilty to charges of home invasion and armed assault with intent to murder, was not present at the Cambridge District Court hearing.
Simpson Hearing for Motion to Dismiss Scheduled Dec. 3
Star A. Simpson ’10 attended a status hearing at East Boston District Court yesterday morning. At the courthouse, a hearing for motion to dismiss was scheduled for Dec. 3. Simpson is charged with possession of a hoax device for appearing at Logan International Airport wearing a circuit board with light-emitting diodes that was mistaken for a bomb.
Endowment Reaches Nearly $10 Billion, Rises 19 Percent in 2007
MIT’s endowment increased by $1.6 billion, or 19.3 percent, during the 2007 fiscal year, reaching a total of $9.98 billion. The increase resulted primarily from investment returns of 22.1 percent, as reported by the MIT Investment Management Company.
Solar Decathlon Places 13th in DOE Competition To Build a Solar Home
The MIT Solar Decathlon team placed 13th out of 20 teams in the Department of Energy competition to build a practical solar home. MIT’s entry, a house called “Solar 7,” earned top marks for its efficient use of solar energy but lost points in architecture and market viability. MIT competed in the competition for the first time this year.