Historical Newspapers of South Carolina

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gsaasssaff" Wednesday, January 28,2004 Since 1908 Ice.storm Damage limited to trees, power BY ADAM BEAM THE HAMECOCK Fallen tree limbs, canceled classes and power outages at The Roost and athletics department buildings seem to be the extent of damage USC suffered during an ice storm that left thousands in Columbia without power. As of 4 p.m. on Tuesday, South Carolina Electric and Gas report ed 100.000 people in the greater Alumbia area were without pow W. Traffic lights in downtown Columbia also were experiencing problems. But at USC, only 180 students went without power at The Roost residence hall because a tree took out two of the three power lines into the building. Housing Director Gene Luna approved $3,200 to rent a 500-kilo watt generator for three days until SCE&G could restore power to the building. < “Without electricity we can’t do anything,” said second-year computer information systems student Jermaine Sims. “There is no hot water, and The Roost is so far out there is not really much to do.” The generator was delivered at 5:30 p.m. Tuesday. Luna said the generator would power the build ing and students wouldn’t notice when the main power came back up. Elsewhere USC grounds crews worked to clear fallen tree limbs and rope off areas that were dan gerous for pedestrians. With wind forecasted for the late afternoon ♦ DAMAGE, SEE PAGE 4 PHOTO BY MORGAN FORD/THE GAMECOCK Winter weather conditions caused limbs to fall into the streets. rnuiu di unvil/ omuo/ mt onmi.wvn Students had a hard time trekking through the Horseshoe without getting wet as ice melted off the trees. USC maintenance workers projected significant tree loss from fhe storm. Weather causes delay in SG filing I deadline BY JON TURNER THE (iAMECOCK Because of an ice storm that shut the university down Monday and part of Tuesday, only one stu dent has filed for Student Government president. As an emergency measure, the filing deadline has been pushed back almost two days. Elections Commissioner ^Bichel Keisler ex plained the situa tion. “We’re extend ing filing through the rest of today, then all day to morrow and half Scott day Thursday,” she said. She said the lack of candidates was probably because of the chaos surrounding the school’s closure and subsequent delay. “1 don't think anybody filed yet because, well, I know a lot of peo ple have been without electricity,” she said, “it’s just mayhem. I think a lot more people will file.” tSG Vice President Zach Scott s the only student to file for an executive position by the original 4 p.m. deadline Tuesday. Scott said he expected opposition. “I think it’s only been half a day,” he said. “I think there are a lot of student leaders on this cam pus, and it would be a shame if they didn’t file because they didn’t think the job was right for them. The only way elections are effec tive is if several people come in with different issues.” In the absence of contenders for the positions, Scott emphasized the need for strong executive officers. “I think different positions ♦ SG, SEE PAGE 3 PHOTO COURTESY OF KRT CAMPUS Presidential hopeful Sen. John Kerry (D-Mass.) stops motorists including this fireman to ask for support. Kerry wins N.H. primary, Dean finishes second BY RON FOURNIER THE ASSOCIATED DRESS MANCHESTER, N.H. - John Kerry overpowered Howard Dean to win New Hampshire’s primary Tuesday, scoring a sec Lieberman of Connecticut, sag ging to fifth place, rejected ad vice from some advisers to aban don his bid. After trooping through coffee shops, country stores and livings rooms of Iowa and New ond-straight campaign vic tory to estab lish the four term senator as the Democratic Party’s presi dential front runner. on Hampshire, the candidates now move to the cold realities of a national cam paign — air port rallies and multimillion dollar ad buys “I ask Democrats everywhere to join us so we can defeat George W. Bush and the econo my of privilege,” Kerry told sup porters, promising to “reduce the poverty of millions rather than reducing the taxes of mil lionaires.” Sen. John Edwards of North Carolina and retired Army Gen. Wesley Clark were in a distant race for third. Sen. Joe in seven states holding contests next Tuesday. Kerry, who reshaped the race with his stunning win in Iowa’s caucuses Jan. 19, steams toward the cross-country contests em bolden with the aura of success to argue that he is the candidate best suited to oust President Bush in November. ♦ PRIMARY, SEE PAGE 6 Expert assails mutual funds USC law professor testifies before Congress about fraud in industry BY Z’ANNE COVELL THE GAMECOCK USC law professor John P. Freeman testified before Congress yesterday in regard to fraud in the mutual fund indus try. Freeman said he was asked to speak because of his research and writing about the mutual fund industry’s corruption. “There’s been a lot of press about what I’ve done,” Freeman said. “I was'invited by Sen. Fitzgerald of Illinois, who is concerned with the mutual fund shareholders and the scan dal of how they are being treat ed, and he heard about my ef forts and saw my name in the papers.” According to the statement Freeman presented to the Senate Subcommittee on eluded billions of dollars are be ing wrongfully diverted from the shareholders every year.” Philip Lacy, the law school’s associate dean for academic af fairs, said Freeman’s work for the underdog will bring notori ety to the school. “This is a major issue in the financial community, and he’s one of the leading authorities on corporate fraud,” Lacy said. “He is viewed as a champion of the little guy, and I think this re flects well on the school.” Freeman said that, unlike oth ers, his position allows him to be both informed and impartial when testifying. “Most people who are knowl edgeable in this area work for the mutual fund industry, and they are not in a position to speak because they have con flicting interests,” Freeman Financial Management, the Budget and International Security; the industry’s ex “I’m not bashful about sharing my views.” JOHN P. FREEMAN use LAW PROFESSOR saw. i can De objective and fair even though I have major criti cisms of how the funds are ternai management, where an outside company manages the fund while simultaneously holding positions on the fund’s board, creates a structure of conflicting interest and guar antees the external manager will treat the shareholders un fairly. As a result of these conflicting interests, rampant fee over charging commonly ensues but is often covered up by the man agement. Freeman said shareholders need to become aware of the mon ey they are losing to the industry. “This is important because there are 95 million Americans with mutual funds, and it’s a se rious problem,” Freeman said. “Mutual funds are a $7 trillion industry, and my research con being run. Freeman, a USC law professor for 31 years, has been research ing mutual funds throughout his schooling and his career. “I’ve been involved in writing about the mutual fund industry since I was a kid in law school, and I’ve been doing it ever since,” Freeman said. “As a lawyer I’m basically gathering and analyzing evidence and fig uring out where it leads me.” Freeman’s hearing lasts for only one day, but he says he would be more than willing to speak again in the future if he were invited. “I’m not bashful about shar ing my views,” Freeman said. Comments on this story?E-mail gamecocknewsftigwm.sc.edu ♦ EXCHANGE Students use USC Exchange to buy, sell. FOR MORE SEE PAGE 3 ♦ DANCE USC’s Dance Marathon raises money for children. FOR MORE SEE PAGE 3 ♦ PRIMARY CONCERN Wes Wolfe explains why John Edwards can beat George Bush. FOR MORE SEE PAGE 10 ♦ HOUR POWER USC’s credit-hour system is unfair to students. FOR MORE SEE PAGE 10 ♦LIGHTREADING Students turn to magazines for advice and diversions. FOR MORE SEE PAGE 11 ♦ HEADS AND TAILS Jonathan Hughes’ popular comic returns. FOR MORE SEE PAGE 13 ♦ CASHING IN Bargain shoppers can hit winter sales via the Internet. FOR MORE SEE PAGE 11 ♦ VISITING VANOY Men’s basketball plays Vanderbilt tonight. FOR MORE SEE PAGE 14 ♦ COMMITMENT The football team lands a new quarterback. FOR MORE SEE PAGE 14 HMMffiHHMHHI Index Comics and Crossword 13 Classifieds 16 Horoscopes 13 Letters to the Editor 10 Online Poll 10 Police Report _2 Entertainment News2 USC Calendar 2 Weather High 47 High 55 Low 23 Low 32 Sunny, winds Mostly sunny, at 15 mph winds at 8 mph Visit us online at: : www.dailygamecock.com The GahjeedckTs printed on reveled paper.