University Of Alabama At Tuscaloosa

University of Alabama News » UA in the News: August 9, 2011

…Some people think we would be better off without religion in public life. In the long run, however, we would lose much more than we gain. Our debates may be more contentious if we allow religion in, but they will also be more committed and honest. Just as the Constitution allows Mr. Perry to stake his political future on “The Response,” it allows the rest of us to answer back.

Many local investors concerned about stock market’s nosedive …Robert McLeod, a finance professor at the University of Alabama, characterized the stock sell-off as a panic. “If you are not out of the market now, I wouldn’t panic,” he said…“S&P added fuel to the fire,” McLeod said. “People who don’t even know what S&P is know the difference between a triple A rating and a double A rating.”…Investors are speculating that gold prices could go higher. McLeod said that is likely but that gold is shaping up as the next investment “bubble” whose price will be pushed up until it bursts. “I think you could see gold go to $2,000 an ounce but at some point it will have to adjust and come down,” he said… McLeod said he remembers the advice of Warren Buffett, a self-made billionaire and investment guru: “Buffett said be fearful when others are greedy and be greedy when others are fearful.”

Dr. James Cover of UA’s Culverhouse College of Commerce and Business Administration discusses the downgrade of the U.S. Credit Rating and what it means to people in Tuscaloosa … Jim Cashman, a University of Alabama professor of management who studies the auto industry, said parts typically account for 30 to 40 percent of a total repair bill. By eliminating the parts markup, which is a significant portion of revenue at most shops, BYOP could lower customers’ bills by around 20 percent, he said. “I’ve had my nose in this business since the early ‘80s, and I’ve never heard of this before,” Cashman said. “This is indeed a unique proposition.” There are some concerns, Cashman said. Customers who don’t buy the right parts might risk nullifying a warranty, and some of the shop’s business likely will return to dealerships and other independent mechanics when the economy rebounds. But overall, he said, it’s a business model with promise. “These guys could have something good going,” he said.

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