OBAMA INAUGURATION:
Anxious optimism
Continued from page 1
promise of citizenship. This is
the source of our confidence,
the knowledge that God calls
on us to shape an uncertain
destiny. This is the meaning of
our liberty and our creed, why
men and women and children of
every race and every faith can
join in celebration across this
magnificent mall; and why a
man, whose father less than 60
years ago might not have been
served in a local restaurant can
now stand before you to take a
most sacred oath."
The next day, almost every
major newspaper ran pictures
of those watching the event,
many who had tears in their
eyes. It seemed the world had
stopped for that brief hour as
the presidency changed hands
from one man many labeled the
worst president in U.S. history
to another who offered hope to
every American.
Many at Penn State Harrisburg
watched the inauguration with
Six-figure Cabinet jobs sometimes mean a pay cut
BY SHARON THEIMER
ASSOCIATED PRESS WRITER
Jobs in President Barack Obama's
Cabinet come with a pay cut for
some of his appointees, who made
millions from investments and
lucrative careers in law, lobbying
and business before joining his
administration, according to
financial reports the government
released Tuesday.
At least one must sell stock
to avoid potential conflicts of
interest
Obama's choice for deputy
defense secretary, William J.
Lynn, until recently a lobbyist
for military contractor Raytheon,
holds Raytheon incentive stock
valued at $500,001 to $1 million,
the documents show. The stock
is due to vest next month. He has
Raytheon "unvested restricted
stock" worth $250,001 to
$500,000.
Lynn has said he will sell the stock.
He received a salary of $369,615
last year as a Raytheon senior
vice president, and is expecting a
2008 cash bonus of $lOO,OOl to
$250,000 to be paid this March,
his report shows. Obama has given
looks of amazement and pride
on their faces. Looking around
Stack's Market, an observer
could notice the diversity that
the crowd portrayed. One
thing brought all these people
together: patriotism.
Chris Snyder, engineering
major, junior, said, "It was nice,
except for him messing up his
oath of office he had a good
speech."
Constitutionally, when a
president is being sworn in and
makes an error in his oath, he
is not at fault for it. Even those
who did not vote for him were
praising the inauguration.
Every eye is now on Washington,
anxious about what President
Obama will do to turn around the
country whose economic crisis
is constantly at the forefront of
many minds.
If Obama does as he promises
the country will see a new dawn
approaching, even his campaign
slogan portrays the new horizon,
bright, hopeful and promising.
Yes We Can.
Lynn a waiver from ethics rules
banning employees from taking
part in decisions related to their
former employers for two years
and prohibiting them from taking
jobs in agencies they recently
lobbied. If he is confirmed as
expected, Lynn will be subject to
ethics reviews for one year.
Government ethics rules require
senior administration officials to
provide details annually on their
personal finances. The reports
include descriptions of assets,
income and debt typically
given in ranges rather than exact
amounts and lists of gifts
and any outside positions. The
disclosures are intended to shine
a light on and help avoid any
potential conflicts of interest.
The report for Obama's nominee
to become attorney general,
Eric Holder, shows he received
$3.3 million, including deferred
compensation, as a partner at the
law firm Covington & Burling, far
more than the $196,700 he would
make as a member of Obama's
Cabinet. He anticipates receiving
a $1 million to $5 million partner
separation payment when he
leaves the firm.
Holder's clients included a
major bank under investigation
BY MARIN BENDORITIS
STAFF WRITER
MABS33B@PSU.EDU
The Student Government
Association started off the Spring
semester with the resignation of
Senators Jacob Faznith and Kevin
Griffin, according to president
Antonios Avennidis. The first
meeting, Jan 16, did not meet
quorum.
The Jan 2.2 meeting met quorum
with nine senators attending.
During Public Comments, Greg
Shivoni and JoAnn Coleman
from Housing and Food
Services asked the senate for
feedback and recommendations
regarding Stacks Market
and the Housing system.
Amanda Basil from the galley
asked what the administration
planned on doing regarding
overcrowding in Stacks. Shivoni
stated that they may open the
Special Events room during rush
hours, and that he would like to
expand, but all building projects
by the department, Swiss bank
ÜBS AG. The company has said
it is cooperating with the inquiry.
Authorities say a ÜBS executive
hid $2O billion in assets from
the Internal Revenue Service by
using secret overseas accounts
for thousands of wealthy clients.
Holder represented the bank in a
separate discrimination case.
Ron Kirk, Obama's pick to
become U.S. trade representative,
would leave his law firm and
several corporate boards if
confirmed. He received $556,740
from Vinson & Elkins last year and
a total of $460,265 from serving
on the boards of Pet Smart, Dean
Foods and Brinker International
restaurant company. Kirk reported
$1.9 million to $4.6 million in
assets.
Secretary of State Hillary
Rodham Clinton's husband,
former President Bill Clinton,
earned millions in speaking fees
last year. Nearly $4.6 million of
the $5.7 million in honoraria came
from foreign sources, including
Kuwait's National Bank and firms
and groups in Canada, Hong
Kong, Germany, India, Malaysia,
Mexico and Portugal, her report
shows.
His global financial and charitable
SGA Update
have been put on hold due to the
economy.
Senator Kemeisha Patterson
raised a question regarding the
lack of vegan and vegetarian
options. Shivoni replied that he
would like recommendations
from vegans and vegetarians.
The Student Court is currently
looking over three club
constitutions for the Latino
Student Union, the Muslim
Student Association and the
Mock Trial club. Chief Justice
Oliver Eisler was hopeful that the
constitutions would be approved
shortly.
• Jackie Daniels, SGA Treasurer
reported that the finance
committee has not yet met to look
over and approve club budgets
for the Spring semester. Daniels
said that the committee would be
meeting within the week.
Chief of Staff, Thomas Brown
said that the SGA website is still
not up and running and asked
for help in order to remedy the
problem. Senate Leader Joseph
Matvia stated that the IT club
activities have drawn scrutiny from
some senators, who want Hillary
Clinton to provide more details
about overseas fundraising for
her husband's foundation than she
promised to under an agreement
with Obama's transition team.
Jacob Lew, Obama's choice for
Clinton's deputy, shows several
investments overseas. They
include $15,000 to $50,000 in
State of Israel Bonds; $l,OOl to
$15,000 each in - Ishares MSCI
South Africa, Ishares MSCI
Austria, Ishares MSCI Belgium
and Ishares MSCI South Korea;
and up to $l,OOO in Ishares MSCI
Brazil.
Jeh Johnson, nominated to serve
as the Pentagon's top lawyer,
will be giving up a seven-figure
salary from an international law
firm. He earned $2.6 million last
year as a partner at Paul, Weiss,
Rifkind, Wharton and Garrison.
Johnson owns stock valued at
$l,OOl to $15,000 each in defense
contractors including Alliant
Techsystems, Lockheed Martin,
L 3 Communications and General
Electric.
The reports also show:
—Agriculture Secretary Tom
Vilsack's income included
$300,000 from the law and
would be willing to help.
President Mermedis reported to
the senate regarding SAF news
and news from the Middletown
Town Council meeting he
attended. New SAF regulations
will require students wishing
to submit a proposal to attend a
training session, either in person,
or online. The Middletown
Council has raised concerns over
Penn State Harrisburg students
parking on Wharton Avenue
and Grandview Avenue, stating
that residents are unhappy. The
subcommittee on Maintance and
Planning is currently looking
into charging for parking on
public streets. The next meeting
of the Council is Feb 10 at the
Middletown Police Station,
according to Avermidis.
The senate approved seven
proposals at the meeting, including
proposals from Kappa Alpha Psi,
BSU, Philosophy club and THON.
There is currently $25,808.20 in
the Restricted Account, $2,757.21
in the Unrestricted Account, and
$15,964.10 in the FAA Account.
lobbying firm Dorsey and Whitney
in Des Moines, Iowa; $lOO,OOO
consulting for Mid American
Energy; $63,000 from lowa State
University; and $55,000 from
other sources, including honoraria,
a fellowship, a director's fee and
consulting. In addition, he and his
wife have $500,000 to $1 million
in farmland that yielded $15,000 to
$50,000 in rent, plus $7,552 from
a U.S. Agriculture Department
Conservation Reserve Program.
—Michele Flournoy, Obama's
pick for the Pentagon's No. 3
job, undersecretary of defense for
policy, is partner with her husband
in a consulting firm whose clients
include defense contractors
Lockheed Martin and BAE
Systems North America. She said
the firm will be dormant during
her time at the Pentagon. Flournoy
disclosed receiving $60,000 in
consulting fees from the firm, AVA
Partners, last year and a salary of
$254,820 as president ofthe Center
for a New American Security, a
Washington think-tank.
—Treasury Secretary Timothy
Geithner has $740,000 to $1.7
million in assets, including partial
ownership of property on Cape
Cod in Massachusetts valued at
$250,009 to $500,000.