Thursday, September 29, 2011

The Jersey Shore

Everyone knows of the Jersey Shore's fist pumping, binge drinking, and Snooki - all the negative steryotypes brought upon by the hit reality show. It may seem like all these negative implications would lead to a downhill apeal for real estate in the state of New Jearsy, however that is not the case. According to recent polls and amounts of houses sold recently since the show started, the numbers haven't decreased, showing an inelastic demand for the Jersey lifestyle. As the number of seasons increase, the interest in housing at the shore have stayed at a steady pace, not dropping or rising.

Bank of America to Add $5 Fee to Debit Card Users

Recently, Bank of America has announced that they are adding a $5 fee to those who use their debit card for purchases. Other banks have stated that they will be adding a debit card fee similar, but this particular announcement has more impact because BOA is the largest U.S. bank by deposits. Debit card usage has started to rise in recent years, 2/3 of customers saying that they use debit cards more than credit. The company hopes this will give customers incentive to switch to more frequent credit card usage. Many will have to consider a trade-off between dealing with the $5 fee with all debit usage, or dealing with interest fees on credit card bills, along with the possibility of credit card debt. This also becomes an issue for many families with teenagers, whose parents give them a debit card as an easy way to pay for gas and other consumer goods, without another credit card bill at the end of the month. 66% of customers have said that if a $5 fee is implimented, they will find another way to pay.

Wednesday, September 28, 2011

Arsenal Deciding to Spend Money on New Players

In the transfer window Arsenal picked up nine total players.  Some of which were very pricy for them to acquire.  We are in a time where we need to be watching money so Arsenal really had to weigh the trade offs of paying for certain players or not.  Although after starting out with one win, one tie, and three losses they were forced to reconsider what they should do.  The trade offs were to stick with what they had and risk being relegated at the end of the year or put their money to good use and try to make the team better.  So acquiring people like Gervinho, Park Chu Young, Andre Santos, Per Mertesacker, and Mikel Areta became a need because Arsenal did not have a lot of depth in certain positions.  Arsenal has gotten some marginal benefit from all of this because since these transfers Arsenal is doing very well in the Champions League tournament and in league play. Hopefully Arsenal can get back to the top of the table with these transfers after a rocky start.

-Hunter Prater

Incredibly Priced Camaro ZL1

The first Chevrolet Camaro ZL1 went on the market for $250,000! Rick Hendricks, owner of Hendricks Motorsports and chairman of the Hendricks Automotive Group, bought the luxurious car for $250,000. He'll have to gather up the money now. Although, he'll have to wait fot his precious Camaro ZL1 until the beginning of 2012. However, the wait should be worth it, considering the ZL1 Hendricks will recieve will be the only one produced with Carbon Flash Metallic exterior. It will be the 69th ZL1 to be sold, of which only 69 were produced. The Camaro ZL1's 6.2-liter supercharged V-8 will make a jaw-dropping 580 horsepower and 556lb-ft of torque. It is safe to say that the Camaro ZL1 would be considered and inferior good. The special thing about this car, besides the advancements, would be the level of demand. Since the demand is low, due to the price being incredibly high, it makes this car that much more valuablt. Therefore, if more people could afford the Camaro ZL1 or the price was lower, it would decrease the value of the car, making it less desirable. It would be just like all the other cars.

Friday, September 23, 2011

Kobe Bryant's Incentive to Play Overseas

Kobe Bryant has recently been thinking of going overseas to play basketball for the Italian team, Virtus Bologna. Kobe's incentive to head over and play is substantial. He has been offered an incredible amount of $6.7 million dollars to play for the team, which could be broken down into a game-by-game type of payment. This means he could leave and come back at any time should the lockout end. This gives him the marginal benefit regardless of his decision. However, there would be some cost as well. If he decided to leave, he would either have to leave his family for a little bit or bring them with him. If he just leaves them, he would have the cost of going one more game each time but being away from his family that much longer. Also, he would have to look at his opportunity costs. A lot of last season he suffered from pain in his knee and had to have it drained numerous times to prevent it from keeping him out. He could easily take the opportunity at hand to take some time off from basketball and rest up. It isn't like he doesn't have to money in his bank account to support his family anyway. Personally, I believe that he shouldn't go overseas. If he stays here, he can stay with his family, take well-deserved time off, as well as keep his title as a lifer for the Lakers. For a person like Kobe, that extra money he would gain by playing overseas is pointless when weighing the missed opportunities he would miss out on, especially considering what he would earn in Italy would only be a quarter of what he would earn this year in the NBA.