Senate Briefs: March 5

A fluke turns out well for ASPC

In 2008, ASPC said it wanted its funds to be invested in a socially responsible manner. It hired Duncan Meaney from the Social Equity Group/Financial West Group, an investment firm based in Berkeley. ASPC was originally supposed to commit $400,000. However, because , according to Adviser Ellie Ash, themembers of the Senate at the time “dropped the ball,” only $200,000 was committed. As a result, 90 percent was invested in bonds and only 10 percent in stocks.

As many students may know, the United States economy is going through a recession.. Due to our reliable Senate members’ fluke, ASPC was luckily able to dodge dropping into the negative! Instead, the ASPC portfolio is 15 percent higher, making a profit of approximately $10,000 a year. ASPC accidentally dodged a bullet.

We are socially responsible!

At the moment, ASPC invests in the Calvert Foundation, which supports non-profit financial institutions that lend in poor communities. We also have bonds with the largest community development bank, South Shore Bank.

Besides investing in firms which assist poor communities, we are invested in firms seeking alternative energy. The ASPC funds are currently invested in a solar power manufacturer, Sun Power, and the largest wind turbine manufacturer, Vestas Wind Systems. When asked if he would invest in any companies working with nuclear energy, Meaney seemed conflicted. On one hand, “Obama supports nuclear energy;” on the other hand, he is “anti-nuclear.” Well, if Obama supports it, it must be good, right? Next week, after the Reserve Investment Oversight Committee (RIOC) meets again, Senate will discuss how to invest next.

Combating the biggest crime at the 5Cs…bike theft

Green Bikes has requested funds from the Budget Committee to purchase U-locks that would be available for cheap rental. Senate members seemed to agree that the locks should be available to all students, not just for the green bikes fleet. Some members suggested selling or renting them at the Coop Store. Yet another sub-committee was created to draft a proposal for the Budget Committee. The meeting was adjourned at 6:01 p.m., without South Campus Representative Jeff Levere ’12, who granted himself an early dismissal at 5:46 p.m.

Facebook Comments

Leave a Reply