Is Cabrini University in our future? Many local colleges are changing their statuses to universities. Now, with Eastern College being the latest to do so, all eyes are focused squarely across King of Prussia Road at Cabrini. However, the administration is not feeling any pressure to add more programs or increase their graduate studies curriculum.
by Vince DeFruscio assistant news editor
Workers at Eastern College were out quickly changing their sign on King of Prussia Road to read "Eastern University" recently. The college officially became a university on Dec. 1, 2001, immediately drawing speculation about the future of Cabrini's college status. A 1999 report from the Middle States Association of Colleges and Schools "strongly" recommended that Eastern consider university status based on two reasons, according to an Internet letter posted by Eastern University President, David Black. Firstly, Eastern offers extensive graduate programs, and secondly, they have opened a new department, the School of International Leadership and Development. All in all, Eastern University offers 46 undergraduate and graduate programs to its students. According to Nancy Santos
Eastern became a university because of their international appeal. Iadarola went on to explain that the word "college" translates to "high school" overseas. However, "university" translates to "college." So, basically foreigners don't see a need to go to a "college." Eastern also offers a more expansive masters program as well photo by Justine Difilippo as a doctorate program. Iadarola continued by speaking Eastern has recently made the decision to change from college to more about Cabrini's "niche," sayuniversity status. ing that the school is meeting a Gainer, executive director of mar- (majors)," Santos Gainer said, re- "need" in the market. Becominf keting and communications, mar- ferring to regional studies show- Cabrini University would me.ai keting a university can be tough. ing Cabrini being rated the second that the school would have tc "The public has to become educat~ private school in Pennsylvania for change its mission statement anc ed about the facts," Santos Gainer • education majors. place more emphasis on graduate Santos Gainer also said that work. Cabrini would also have tc said. When speaking to administra- most universities try to market increase its on-campus resources tors about Cabrini's status in the themselves as small schools, de-· such as the library and faculty community, one term that contin- spite their rather large sizes. "It's making it an all around large1 ues to be used is "niche." Cabrini all relative," Santos Gainer said school. has a niche as being a small, pri- when speaking about the quality vate, Catholic college geared to- of programs offered at universities -story continued on page 3 and colleges. wards undergraduate education. President Iadarola feels that "We're the best in education
Enron scandal· explained by Dr. Mary Harris by Geri Lynn Utter A & E editor
"The ultimate cause of Emon Corporation's brutal collapse was a culture of greed and arrogance that bred excessive secrecy," competitors and lawyers interviewed by Kurt Eichenwald of the New York Times said. Due to the alleged white-collar crime causing the fall of Emon Corporation, one of the world's largest energy traders, Congress has been forced to reevaluate the business ethics of the entire nation. Critics and members of Congress charge that Enron Corporation managed to violate basic accounting procedures and committed white-collar crime, that have not only effected its employees and shareholders, but its political status with the country. "Dec. 2 Enron Corporation filed for a Chapter 11 bankruptcy, which is a form of bankruptcy that allows the company to operate while attempting to redeem itself,"
Dr. Mary Harris, assistant profes- cording to a basic accounting prinsor of finance, -============= ciple, known said. A Chap"Anoccurrencesuch as the Owner ter 11 bankof Partnership, may as Enron filing Chapter if a comparuptcy not seem exnytperson 11 shows how large •tremely detri• bl" d d b (Enron) owns ftrmS are In e y less than 50mental . to many busithe almighty dollar, percent of a nesses, but in anything to make a company (inEnron's situavestment partbuck. nerships) the tion it is a matterof $1.2 billoss and debt of that compalion of debt -Lisa Simonetti, senior ny does not and losses that were kept off accounting major have to be reported on the the books, hidbooks. It was den in separate investment partnerships. later discovered that Emon did Investment partnerships can be have ownership in more than half best described as separate busi- of these so-called investment partnesses that were partially owned nerships. What Emon essentially by Enron Corporation; however, did, according to accusations from Emon failed to report the debt and 1997 to 2000 was report all the inlosses of these small investment vestment partnerships revenue partnerships on the books because (gain) and disregarded their lossEmon did not claim to own more es. than half of these companies. AcArthur Anderson, a Big Five ._
Accounting firm, is currentl) being investigated for sigriing fi. nancial statements and reports tha contained false information involving the loss and gain of Emon's investment partnerships. "As an accounting major seeking my CPA certification, it ha5 been driven into me that the onl)' companies worth working for are the Big Five Accounting Firms,' Lisa Simonetti, a senior accounting major, said. "An occurrenct such as Enron filing Chapter 1 shows how large firms are blinde1 by the almighty dollar, anything t make a buck. Enron should nc have attempted to keep separat investment partnerships off th books, and Arthur Anderso should have had the ethical stand ing to refuse approval of financia statements."
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