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George to Martha: Drop Dead GOVERNOR VETOES FUNDS FOR MVR GOVERNOR GEORGE PATAKI'S NEW YORK STATE BUDGET vetoes have derailed plans to replace the north wing of Martha Van Rensselaer Hall, condemned and vacant since a 2001 engineering study discovered serious structural flaws in the building. In August, Pataki vetoed $460 million in capital projects for the State University of New York system, including $9 million of the $34 million needed to replace the 1966 College of Human Ecology structure, which is owned by the state. The remaining $25 million slated for MVR remains in the budget. In all, Cornell could lose more than $20 million in state funds, including $1 million to the Geneva Agricultural Experiment Station. A September 20 effort to override the vetoes failed in the Democrat-controlled State Assembly. Stuck USN&WR RANKING UNCHANGED FOR THE FOURTH STRAIGHT YEAR, CORNELL was number fourteen in the annual ranking of national universities published by U.S. News & World Report. Harvard and Princeton once again shared the top spot, followed by Yale in third and the University of Pennsylvania in fourth. Fifth place was a three-way tie among Duke, MIT, and Stanford. Columbia and Dartmouth tied for ninth, and Brown jumped from seventeenth to thirteenth, making Cornell the lowest-ranked Ivy. Cornell also placed fourteenth in another USN&WR poll, although this was more welcome news. For the first time, the magazine's ranking of 430 undergraduate business programs included the one offered by the Department of Applied Economics and Management in CALS. Unlike the magazine's overall ranking system, which uses a complex (and controversial) formula to determine each institution's score, the business- school poll is based solely on a "peer survey" of deans and senior faculty at institutions accredited by the Association to Advance Collegiate Schools of Business. Moving Up ENDOWMENT GAINS ACCORDING TO A REPORT PUBLISHED in the New York Times, Cornell's endowment increased by 16.1 percent in the fiscal year that ended on June 30, 2004, climbing to $3.8 billion. Donald Fehrs '77, Cornell's chief investment officer, says that number actually represents "the new amount of the pool of funds we manage in long-term strategies."University CFO Hal Craft '60, PhD '70, says the endowment will be reported officially at $3.3 billion in the annual financial report, which will be presented to the Board of Trustees shortly after this issue goes to press. Beck Center STATLER HALL
Actor and Activist CHRISTOPHER REEVE, 52
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