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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (Oct. 11, 1994)
^ CjL, 1 1 \ ^ ■ Phillips shoulders load with QB shortage, page 7
_ I * I _ Arts and Entertainment
I ■ Film series shows art of architecture, page 9
I W I | ^ B B I PAGE 2: Clinton sees no indication of Iraqi pullback
COVERING THE UNIVERSITY OF NEBRASKA SINCE 1901 VOL. 94 NO. 35
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Warron Buffott addroaaoa tho crowd In tho Contonlal Ballroom of tho Nobraoka Union Monday morning. Buffott, who
la tho aocond richoat man In AmoHca, apoko aa part of tho E.J. Faulknor Locturo aortoa and anaworod atudonta’
Buffett offers advice about business, life
By Matthaw Walta _
Warren Buflctt told an audience of about
1.0(H) people Monday that the traits needed
to succeed were not impossible to have.
The three things needed. Buflctt said,
were intelligence, energy and character
“If you don’t have the last one. the first
two will kill you.” he said.
Buffett, ihe second richest man in
America, offered advice, encouragement and
some humor about life and bupness to a
group consisting of mostly business students
and U niversity of Ncbraska-Lincoln faculty.
Buffett was speaking as part of the E.J.
Faulkner lecture series. £
The Omaha businessman spbkc to the
audience in the Nebraska Union about him
self and his business sense and answered
questions from the audience for more than an
The charismatichalf-owner of Berkshire
Hathaway, a stock-holding company, an
.-•- I . I -- n
AGE - 64. Bom Aug. 30, 1930, in Omaha.
EDUCATION • Graduated University of Nebraska
Lincoln, 1950. Application to Harvard University's
graduate business school rejected. Studied under
Benjamin Graham at Columbia University’s busi
ness school, graduating with a master’s degree in
economics in 1951.
BUSINESS - Worked for two years at Graham
Newman Corp., a New York investment firm.
Founded Buffett Partnership in 1956 in Omaha with
$105,000 from relatives and friends, invested In
Berkshire Hathaway; Berkshire Hathaway became
Buffett's investment vehicle after 1969; chairman
and chief executive officer Berxsmre namaway
1970-; interim chairman Salomon Inc., 1991. Owns
40.3 percent of Berkshire Hathaway; estimated net
worth $9.2 billion in 1994.
POLITICS - Republican until '60s, when he became
a Democrat; honorary chairman of Sen. Bob Kerrey,
D-Neb., re-election campaign, 1994.
FAMILY - Wife, Susan, 62, who lives In San Fran
cisco, owns 3.1 percent of Berkshire Hathaway;
three children: Susan Buffett, who lives in Omaha;
Howard, corporate vice president of Archer Daniels
Midland Co., in Decatur III.; and Peter, a composer
living in Milwaukee.
swercd questions ranging from stock options
to whether he believed in true love.
“I do,” Buffett said, “in securities and
Buffett advised students to look i nto busi
nesses for whom they would enjoy working.
He said working a job that one didn't like
was not smart.
“Essentially, it’s like marrying for money,
which is not a good idea,” he said “It's
absolute madness when you’realready rich.”
People make life more complicated than
they should, he said. Buffett told the students
to use common sense and keep their reasons
See BUFFET on 3
By DoPra Jaw—n
ASUN’s student court will clarify this week
a decision made last spring involving the Inter
national Student Organization election.
Last May, thecourt ruled the organization's
April 7 election was invalid because it was not
held in strict accordance with election rules set
by the organization’s constitution. The court
called for new elections for sometime after the
fall semester began.
The organization's previous officers would
retain their positions until a new election was
held, the court decided. The student court also
recommended the organization change its elec
tion procedures and revise its vague constitu
The court met Thursday to discuss its deci
sion, said Marlene Bcykc, an adviser for the
Association of Students of the University of
Nebraska. The court may clarify its decision as
early as Wednesday, she said.
Sunjae Park, who won the ISO presidency in
the invalid election, petitioned the court for the
clarification. Park requested the court specify a
date for the new election.
He also requested that the court specify
whether ISO’s interim government or the new
government had the authority to change elec
tion procedures and revise the organization's
constitution. The interim government currently
is revising the constitution.
Park asked that the court specify wnetner tne
new elections should be limited to candidates
from the April 7 election or whether it should be
open to new candidates.
Park’s petition to the student court is one of
several recent efforts he has made to resolve the
election issue. He has taken his case to James
Griescn. vice chancellor for student affairs.
Griescn recommended he file the petition.
Park also has appealed the student court's
decision to the University Appeals Board, but
the board declined to hear the appeal
Park said the student court’s decision to rule
the election invalid was wrong because election
rules were followed in accordance with the
constitution and with tradition.
The election rule in question by the student
court involved the verification of authorized
voters. According to the ISO constitution, ail
authorized voters must provide evidence of
their citizenship to the Electoral Committees
Traditionally, the Electoral Committee has
used a student checklist provided by the Office
of I ntcrnational Affairs to verify the citizenship
But identification has never been required to
verify that voters were actually the students on
At an April 6 meeting. Park said he met with
Judy Wendorff, ISO adviser, and Sekar
See ISO on 6
UNL hopes to prevent the ‘brain drain,’ Griesen says
• «i « _1_
By P«Pra Jan—n
UNL is a major agent to clog
Nebraska’s “brain drain,” the vice
chancellor for student affairs said.
James Griesen said UNL gradu
ates often left Nebraska because other
states offered more and better job
“If people with a degree find better
opportunities in other states, they're
going to leave,” Griesen said. “It’s a
problem the university doesn't cause,
but it’s a problem the university can
indeed help remedy.”
A study recently released by the
Federal Reserve Bank of Kansas City
showed that in the last two decades.
More high-tech job opportunities should keep graduates here
more people left Nebraska than any of
the other states in the I Oth Federal
Reserve District. Those states include
Nebraska, Colorado, Kansas, western
Missouri, northern New Mexico, Okla
homa and Wvoming.
Though the brain drain occurred
across all age groups and education
levels, 54 percent of those who left
Nebraska from 1985 to 1990 were
college graduates or advanced degree
holders, the study showed.
However, Griescn said, during
those years Nebraska’s economy per
formed poorly in comparison to the
Gricscn said the study showed
Nebraska's brain drain had been de
creasing in the '90s. Slightly more
people came into the state than left it
in 1991-92. the study indicated.
“The more recent news looks kind
of good,” he said.
Griesen said the university helped
combat brain drain by attracting more
out-of-state students to Nebraska and
by promoting economic growth and
development in the state.
“Universities lend to spin ofThigh
tcch type industries in the areas where
the : located,” he said.
ause of its research capabili
ties, he said, the university attracted
industries, such as Transcrypt Inter
national Inc. and Information Tech
nology Inc. to Lincoln.
Not only do those industries pro
vide job opportunities for UNL gradu
ates, they provide job opportunities
for graduates from other states, Gricscn
Also, Griescn said, the university
is working with the city to develop a
business enterprise in Lincoln known
as “Technology Park." That enter
prise will create new employment
opportunities in the city, he said.
However, Griescn said, there al
ways will uc suiuc pcupic wnu leave
“We don’t live with borders around
our states,” he said.
Larry Routh, director of Career
Services, said some students deft nilely
planned to leave the state after gradu
ation. But, he said, most students want
to stay in Nebraska
Routh said his office helped gener
ate job opportunities for students who
want to stay in Nebraska through a
program called the resume referral
Students who use the service sub
mit resumes to the Career Services
office, he said. Employers can call the
office and request those resumes.
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