Monday, October 6, 2008 by The Brown Daily Herald

The Brown Daily Herald M onday, O ctober 6, 2008

Volume CXLIII, No. 85

Since 1866, Daily Since 1891

U. to finish projects by next weekend

Economists: doom and gloom ahead

Corp. members to tour completed buildings

By Connie Zheng Staff Writer

is powered entirely with local New England wind power,” Payson said. Cunard said that he hopes the new cafe “will not only be a cafe with food and beverages; it will be a new campus venue” for activities like acoustic music, art showings and poetry readings. “Ideally, we’d like to find a Brown student organization to help run the events,” Payson said. “We want to be very much a part of the community and have Brown students involved and the faculty involved.” Margaret Watson ’11 said she’s pleased about the change. “I used to live on Pembroke last year and went to Blue State all the time,” said

Students and faculty filled Salomon 001 to maximum capacity — and then some — on Friday afternoon to hear four Brown economics professors and a former Lehman Brothers quantitative researcher sound off on the current financial crisis and the recently passed $700 billion government bailout. During the “Roundtable on the Current Financial Crisis,” the panel of five explained the origins of the crisis, warned the audience not to scapegoat Wall Street bankers and expressed its concerns about the ability of the bailout to resolve the problem. Economics professors Peter Howitt, Ross Levine, David Weil ’82 and Ivo Welch shared the spotlight with Matthew Rothman, the former global head of quantitative equity strategies at Lehman Brothers Holdings, Inc. Rothman now works in the same position at Barclays Bank PLC in the wake of Lehman’s collapse. Welch introduced the panelists. Each spent about 10 minutes discussing his views on the economic turmoil and bailout. They opened the remaining 30 minutes of the roundtable to questions from the audience, which ranged from specific questions about mortgages to broader inquiries about the global effect of the crisis. The audience members greeted the roundtable with frequent, vigorous applause and laughter at the speakers’ jokes. The economics department and Department Undergraduate Group hosted the event. Students’ curiosity was met by a panel with primarily bleak opinions to share. Among the grim words of Levine’s peers, his were the most optimistic. “I think we’re going to be okay,” Levine said. “Just a little poorer.” He added that he foresaw neither a depression nor a “financial Armageddon.” Howitt and Welch painted far less rosy pictures. “This is perhaps the most dangerous crisis since the Great Depression,” Howitt said. “Ultimately, the position of the U.S. dollar is at risk.” Howitt also predicted a global recession and the shrinkage of the world economy. Welch echoed Howitt’s concerns, adding that the current crisis is an “incredibly difficult mess to untangle.” The entire panel expressed doubt — or at least ambivalence, on Rothman’s part — in the ability of the government bailout to completely resolve the issue. The prospect of increased gov-

continued on page 4

By George Miller Senior Staff Writer

Following a summer of frenzied construction, two capital projects are nearing completion. Pembroke Hall, occupied just two weeks ago, and the new glass entrance for J. Walter Wilson Hall, should be finished in time for the Corporation meeting next weekend, said Director of Project Management Paul Dietel. Administrators wanted to complete renovations in time for the meeting so that they could give members tours of the completed projects, Dietel said. Pembroke boasts a restored facade and brand-new interior following a “full gut” renovation, Dietel said. The previously dark space — brightened by glass walls and bamboo flooring — has recently been occupied by the Cogut Center for the Humanities and the Pembroke Center for Teaching and Research on Women. It also houses a single classroom on the second floor, which has both a

Kim Perley / Herald

Workers are hurrying to finish J. Walter Wilson in time for the upcoming Corporation meeting. restored 19th-century plaster frieze and a brand-new projector, as well as a multi-purpose loft space on the third floor. “It’s gorgeous,” said Elizabeth Weed, director of the Pembroke Center, adding that the previously interior was “Victorian.” Alumnae Hall

had housed the Pembroke Center since it was established in the 1981, and some offices will remain there, Weed said. Pembroke Hall — along with all new buildings built by the University — will aim for LEED (Leadership in Energy and Environmental Design)

silver certification, said Chris Powell, director of sustainable energy and environmental initiatives. On top of LEED requirements, all new buildings and renovations are subjected to internal “high performance” rules recontinued on page 4

Grad’s sex Bookstore to include Blue State-run cafe and parenting sites flourish By Kelly Mallahan Contributing Writer

By Jyotsna Mullur Contributing Writer

The economy is in a slump. Job opportunities are scarce. What’s a Brown graduate to do? Start a sex Web site, of course.

FEATURE Rufus Griscom ’91 graduated into a floundering economy. He says many of his classmates were faced with the reality that their ambitions of landing a lucrative job would have to be sidelined, at least for the time being. Griscom, however, found the dismal financial forecast liberating. “It was a great thing,” he says. “It reduced the pressure to get a highpaying job.” After hopping from Washington to Little Rock, Ark., and then back north to New York City, Griscom, a concentrator in the now-extinct Literature and Society Program, found himself taking literature in a different direction. In 1997, with a staff of three, he started Nerve — a Web site devoted to sex. At first glance, the site seems more like a blog than an erotica site, but Nerve is unabashedly sex-centric: “We think sex is beautiful and absurd, remarkably fun and reliably trauma-inducing,” reads its mission statement. continued on page 4

ARTS & CULTURE

Starting in January, students will have a new place to get coffee, study and hang out: the Brown Bookstore. Renovations will be completed in early January, according to Bookstore Director Manuel Cunard. A new cafe, to be managed by Blue State Coffee, will be the centerpiece of the revamped bookstore. The new cafe “won’t be officially called Blue State Coffee,” said Alex Payson ’03.5, co-owner and manager of Blue State. Instead, “it will be the College Hill Cafe, operated by Blue State Coffee.” Cunard said that calling the cafe “The Bookstore Cafe” was also a possibility. Blue State Coffee, which currently has a store located three blocks north of the bookstore at 300 Thayer St., beat out several other vendors, including Au Bon Pain and Brown Dining Services, for the bookstore contract, according to Payson. Blue State Coffee donates 10 percent of all sales to progressive causes and local charities, as voted on by customers. The store also sells “Bush’s last day” counters and Obama-Biden bumper stickers. Cunard recognized that “Blue State is a company that has a political agenda, but Blue State in the bookstore will not be driven by that.” “They have given us a philosophical commitment, and are really committed to sustainability and student activism,” Cunard added. Payson agreed. “The political aspect is definitely going to be toned

Pixilerations Activate! Futuristic art exhibition, cosponsored by Brown, brings new media to the public

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CAMPUS NEWS

Donald Kendall / Herald

The renovated bookstore will include a cafe, run by Blue State Coffee. down a bit,” he said, adding that anti-Bush merchandise will not be included in the new cafe and that eco-friendly merchandise, such as sustainable shopping bags, will be emphasized. The new cafe will have an expanded menu, which will include soups and sandwiches along with Blue State’s signature coffee and breakfast offerings. Payson said that Blue State is “very much committed to buying locally,” as well as offering organic goods and supporting sustainability. Blue State, which plans to open a store on Yale’s campus soon, creates very little landfill trash, as it composts coffee grounds and serves food and drinks in containers that can also be composted. Additionally, “the store

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OPINIONS

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12 SPORTS

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