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Show : •..'- T . - Page 3 News Friday, /an. 23, 2009 Unemployment to increase until 2010 By SETH BRACKEN staff writer Despite record-low mortgage rates, there is little good news concerning the economy and until 2010 there will be increasing unemployment, said Frank Nothaft, vice president and chief economist for Freddie Mac. Nothaft was a keynote speaker in a business conference held in the Eccles Conference Center Thursday. "I wish I had better news to share with you, but I don't. I've got a lot of bad news to share with you," Nothaft said. The U.S. is in a recession and has been since 2007, Nothaft said, and it doesn't seem to be getting any better. This is the longest and deepest recession since the 1980s. The unemployment rate is currently 7.2 percent, whereas the rate in 1982 was at an impressive 10.2 percent, he said. Nevertheless, projections of the future seem to point to an increase in job loss. In 2008, 2.5 million jobs were lost, he said, the largest singleyear loss since 1945. Economists predict that by the end of 2009, the unemployment rate will nationally be around 8.7 percent, and some areas will be hit harder than others, Nothaft said. "Sadly, the recession seems to be deepening," Nothaft said. "But if you live somewhere where you're pumping oil out of the ground or growing corn, you're doing OK." Utah's economy hasn't been hit as hard and the unemployment rate is at 3.7 percent and predicted to go up, but not nearly as high as the national average, he said. The current recession differs from the recession of the '80s because inflation is currently very low, at 1.7 percent, which is well within the optimal range, Nothaft said. This allows the federal government to take a very aggressive approach to the issue and provide funding and aid in order to help boost the economy. In 1980, inflation was at 13.58 percent, causing interest rates to be astronomically high which made it more difficult for the government to take an aggressive approach to aid, he said. Currently the average interest rate for a 30-year mortgage is just under 5 percent, the lowest it has been since 1945. In 1980, the interest rate was above 10 percent, Nothaft said. The housing industry hit an alltime high in 2005, selling more homes and building more homes than had ever been built before, Nothaft said. However, due to a rise in unemployment and the over projection of housing needs, the housing market became saturated and housing prices began to plummet. The national average price drop in the housing market is 10.5 percent, he said, and Utah is a little better off with a price drop of 6.1 percent. "Approximately 20 percent of home owners have a mortgage balance higher than the worth of their home," Nothaft said. About 33 percent of home sales in the past month have been foreclosure sales, and now is a great time to refinance a home, he said. However, it is much more difficult to get a loan. Northaft said lenders are looking for a nearly spotless Briefs Campus & Community Speaker Series date to be rescheduled The Department of English Speakers Series featuring a lecture by USU professor of English Steve Siporin has been cancelled. Siporin was to read from his translation of Augusto Segre's "Memories of a Jewish Life" Wednesday, Jan. 28, at 12:30 p.m. The lecture was announced in a press release distributed recently. The lecture will be rescheduled at a future date. Rugby coach to speak at USU A Salt Lake City rugby coach, known for leading his teams to 18 national championships and for inspiring the movie "Forever Strong," has accepted an invitation to speak at USU Jan. 28. Larry Gelwix will be the first Dean's Convocation speaker of the year. The convocation will be held at 1:30 p.m. in room 215 of the FRANK NOTHAFT, SENIOR ECONOMISTS AT FREDDIE MAC, George S. Eccles Business buildpresented a grim outlook on the housing market. He said he predicts up to ing. a 6.1 percent decline in Utah home prices and unemployment to rise. BRIAN Gelwix is also the CEO of FRANCOM photo Columbus Travel and was featured as the "Getaway Guru" on.radio ment in the economy, he said, but credit record, stable employment and television. Dean Douglas the job market most likely will not and a significant down payment or D. Anderson said he wants the improve until 2010. home equity. students to hear how Gelwix has "Unemployment lags," he said. "Housing activity is really in a achieved his success on and off the "It's going to go up through the slum," he said. "Mortgage lenders field. have tightened credit standards sig- end of the year and the first part of "Larry works with each player 2010." . nificantly." individually, constantly emphasizHousing prices should level out The federal government's recoving the importance of integrity, and become more stable by 2011 or ery package will most likely take the value of total commitment effect in the second half of this year 2012, said Nothaft. and the power of teamwork," -seth.bracken@aggiemail.usu.edu and there should be some improveAnderson said. "I want our business students to see how the application of such principles has led to amazing success in the hard-hitting world of rugby and in Larry's vocational victories." Dean's Convocations are held monthly at the Huntsman School of Business. The free forums feature exemplary leaders who share their insights on success and integrity. Those interested in more information about the convocation may phone Steve Eaton at 797-8640. Gem: USU professor honored for research on evolution IJ continued from page 1 was unaware that his research was being considered for the article and was surprised to hear it had been chosen. Brodie said his research is far from over. "We are full speed ahead. I've only got so much time to be here," he said. "I've got to take advantage of it while I can." Brodie has been a mentor to many undergraduate and graduate student researchers in a range of projects, and in 2006 was named the USU College of Science's Graduate Mentor . of the Year, he said. In 2001, Brodie said he received the D. Wynne Thorne Research Award, which is the highest research honor given by USU. Brodie has also received the 2007 Henry S. Fitch Award for Excellence, a national award, he said. Brodie said he has been accompanied in his research by his son, Edmund Brodie III, as well as his former doctoral student, Shana Geffeney, who was the first to identify the genetic mechanism, and is currently a postdoctoral research fellow at Stanford School of Medicine. -rachaelhansen@aggiemailusu.edu Fellowships/or humanities students EDMUND BRODIE JR., USU DIRECTOR OF GRADUATE STUDIES, said he was surprised to hear his research was being considered to be honored as one of Nature Magazine's 15 Gems of Evolution. CAMERON PETERSON photo Evidence: Saved from death row by DNA 01 continued from page 1 row," Bloodsworth said. After questioning him, Bloodsworth said the police recommended he wear a blanket over his head to hide his identity as he left. Bloodworth, having nothing to hide, declined. "That would be my biggest error," He said. Sitting in the prison visiting room, Bloodsworth said his attorney assured him that all would go well with the legal proceedings. "I know my way around a courtroom, we're going to find our way out of this together," Bloodsworth said the attorney told him before turning and walking right into the wall. The trial lasted two weeks, Bloodsworth said, and there werefiveeye witnesses. Every one of them had seen Bloodsworth on television the day police had recommended he wear a blanket on his face. When judgment was passed it was the death penalty, Bloodsworth said and the courtroom erupted in applause. With a different attorney, Bloodsworth said an appeal would later yield a sentence of double life. Bloodsworth said he began his new life in prison. At night other inmates would call down the ventilation shaft, "We're going to get you Kirk, we're going to do to you what you did to that little girl." As a means of distraction Bloodsworth said he read. One day a package of books arrived including "The Bloody," a book about a new technology called DNA testing, he said. It told the story of Collin Pitchfork, the first man to be convicted by DI^A evidence, he said. Bloodwsworth said he had "an epiphany bigger than this campus. If it (DNA) could convict you, it could free you." He said he immediately wrote to the prosecuting attorney. He asked that the evidence be re-evaluated. She replied the evidence had inadvertently been destroyed, Bloodsworth said. While serving his prison term.Bloodsworth's mother passed away. He said he was allowed to attend a few minutes of her funeral in shackles and cuffs. ;?-:$ ''This was the woman who taught me to read, she .was the reason I could read 'The Bloody'... I kissed Poem: Johnson said God was lonely IJ continued from page 1 her goodbye and went back to prison an innocent man," Bloodsworth said. The memory of his mother fresh, he said he went back with renewed spirit. He called his attorney and asked that he look for the evidence one last time. By sheer fluke, Bloodsworth said the attorney found the evidence and sent it to one of two DNA labs in America. On April 27,1993, the prison guard left a note that read, "Urgent: Call your attorney." Bloodsworth said the guard was screaming, "Kirk, you're innocent." Bloodsworth was later released as the first man to be exonerated by DNA evidence, he said. As a free man he would learn "It wasn't over, it was just beginning." People did not understand DNA testing; Bloodsworth said it was regarded as a "shaman science, a get out of jail free card." His neighbors had a hard time believing he was really innocent, and he said they treated him like the monster they had come to believe he was. Bloodsworth said he wanted them to put the DNA results in the Combined DNA Index System database. He hoped that it would reveal Hamilton's real killer. It took 10 years before the data was ever entered'into the base, he said, but only two days to find a match. Today, 15 years after his release, Bloodsworth travels the country, speaking to audiences about the criminal justice system. He wears his signature blue tie with a strip of DNA on it. He said he has since helped coordinate the Justice Project whose mission/ according to the project's Web site, is "to increase the fairness and accuracy of the American criminal justice system." Bloodsworth shared his story with USU students Wednesday. He said his story had a message for everyone. "You must stand up for what you believe in; integrity is everything," he said. To the future lawyers in the room he said, "Stand . up for your client." And he warned them to watch for walls. .,£, £ y i1. ;; -dragonfly_chic@hotmail.com "The Creation." He said the poem was originally published on its own and then was later added to Johnson's book, "God's Trombones." Shivery said "The Creation" is a story of how God created the earth. He said Johnson used the King James Bible as inspiration, but the poem was still unique and much different from the Bible's actual story. Shivery said Johnson came up with a motivation for God to create the earth and man in the poem, and the motivation was loneliness. "He adds a childish playfulness and spontaneity to the whole act of creation," said Shivery. "Those who celebrate mystery will enjoy Johnson's work. It's a living, moving, inspiring story of the creation." Shivery showed a slide show at his presentation that showed the paintings that were done for the poem. Shivery said Aaron Douglas was the artist for the paintings. Shivery said Douglas's painting and Michelangelo's version of the "The Creation of Adam" were completely different. Shively said "Gods Trombones" is available at the USU library for anyone that is interested in learning more about Johnson's work. ~s.k.b@aggiemailusu.edu The Utah Humanities Council (UHC) is currently accepting fellowship applications for student research in the humanities. Two fellowships will be awarded this year - one for undergraduate students and one for graduate students. The maximum student fellowship award is $500. Applications are required and are due March 1. Joyce Kinkead, associate vice president for research at USU whose ideas about student research encouraged UHC to offer the fellowships, said, "Students in the humanities traditionally have been disadvantaged by a lack of financial support to undertake research, unlike their peers in the sciences. UHC's Student Fellowships begin to rectify that problem and help Utah students be more competitive for national and international awards." Projects must have a humanities focus, such as history, literature, languages and linguistics, philosophy and ethics, cultural anthropology, archaeology, comparative religion, jurisprudence, folklore and the history and criticism of the arts. Fellowship funds may be used to pay the costs of equipment, supplies, software, technical support, to travel to do research or to report on the results of research at a professional conference. Grant guidelines and forms are available online at http://www. utahhumanities.org/Grants.htm or by calling Brandon Johnson at 801359-9670.,, / "The Utah Humanities Council is very excited to be offering these fellowships to support student research in the humanities," says Brandon Johnson, UHC s director of grants and public programs. "We believe they will not only give undergraduate and graduate students a vital chance to conduct significant research, but that they will also help cultivate the next generation of humanities scholars in Utah." ^Compiled from staff and media reports |