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New study finds U.S. ca
lacking in resale value
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Beernuts by Rob Appling
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TRAVERSE CITY, Mich.
(AP) — U.S. carmakers fared
poorly Tuesday in a first-ever
ranking of auto resale values,
with European and Japanese
brands expected to keep more of
their worth as used cars.
An incentives war being
waged by the U.S. car dealers
may be contributing to the prob
lem, although the study by the
Automotive Lease Guide also
took other important factors
such as quality and past per
formance into account.
It was the first time the
Automotive Lease Guide, which
is the industry’s main authority
on resale values, made public a
ranking of brands’ expected
future worth. Most U.S. brands
came in below average; the
exceptions were Jeep, produced
by the Chrysler Group of
DaimlerChrysler AG and GMC,
by General Motors Corp.
Volkswagen of America Inc.
was found to be the brand that
would best hold what’s known
as residual value over the next
three years. The study predicts
Volkswagens will retain 52.2
percent of their worth after
three years.
The Volkswagen Passat was
ranked best in the midsize car
category.
Automotive Lease Guide
president Raj Sundaram said
laying on incentives erodes
residual values because they
make the cars worth less when
they’re purchased new. When a
new vehicle costs less, its value
erodes at a quicker rate.
“Residuals have been com
ing down for awhile, but now
there are more problems as the
automakers play games on the
new car side,” Sundaram said.
U.S. automakers have been
offering some type of incentive
for many years, but the latest
battle began in September with
GM’s “Keep America Rolling”
no-interest financing promo
tion. Ford Motor Co. and
Chrysler followed, leading to a
torrid sales pace at the a 1
the year that boosted2f
the second-best sales .;
history.
The automakers kne,
incentives narrowed pro!::
gins, but feared a retreat;
drive away customers wb
become accustomed J
come-ons.
The Automotive Leased
awarded Toyota Motors
U.S.A. top rankings intbj
egories; the Tacoma ft
compact truck sepEH
Sequoia for the full-size
segment; and thelundraf;
full-size truck segment
three are repeat segment
from last year.
Among non-luxury
falling below the averel
41.S percent residual
were: Buick, Che;::
Chrysler, Daewoo, D)
Ford, Hyundai, Isuzu.
Mazda, Mercury, Mitsi
Oldsmobile, Pontiac, St
and Suzuki.
T1
“Rea
get a
NEWS IN BRIEF
New York municipal workers
accused of stealing millions
from bank after Sept. 11
NEW YORK (AP) — In one of the largest fraud
cases resulting from the terrorist attacks, thou
sands of people are accused of using ATMs to
steal $15 million from a municipal employees'
credit union whose computer security system
was damaged on Sept. 11.
Sixty-six people have been arrested and 35
more were being sought in the scheme, author
ities said Monday.
District Attorney Robert Morgenthau said the
suspects found a way to repeatedly withdraw up
to $500 a day from ATMs — even if their accounts
at the Municipal Credit Union couldn't cover it.
Prosecutors will seek death
penalty in slaying of 5-year-
old California girl
SANTA ANA, Calif. (AP) — Saying the crime
"shocked and outraged our community," prose
cutors announced plans to seek the death
penalty against the man accused of kidnapping
5-year-old Samantha Runnion from in front of
her home and killing her.
Alejandro Avila, 27, is accused of dragging the
girl away from a playmate after he asked her for
help in finding his puppy. He is charged with
murder, kidnapping and two counts of forcible
lewd acts on a child.
'There is no question in my mind that the person
who kidnapped, molested and murdered 5-year-
old Samantha should face the death penalty,"
Orange County District Attorney Anthony
Rackauckas said on Monday. He said he would not
consider a plea bargain under any circumstances.
Hundreds honor Marilyn
Monroe on 40th anniversary
of her death
LOS ANGELES (AP) — Athena DeLima placed a
bouquet of roses amid an array of other floral
arrangements, then leaned over and kissed the
bronze name plate on Marilyn Monroe's crypt.
The 20-year-old, not even born when Monroe
died of a drug overdose on Aug. 5, 1962, was
one of hundreds of fans keeping the Hollywood
sex symbol's legend alive on Monday, the 40th
anniversary of the actress' death.
"To me. I'd rather celebrate her life instead of
her death," said DeLima, who drove two hours
from her home in Oceanside to pay tribute to
Monroe. "She's still alive to me."
Enrollment
Continued from page 1
in electrical engineering may decide to specialize in
power systems and power electronics because of the
recent downturn in the telecommunications industry.
Kezunovic said the recent freeze in the com
puter industry may also be a contributing factor.
The electrical engineering field has eight differ
ent focus areas and students must look at several
different factors when choosing a specialization.
Kezunovic and Singh were both cautious in
speculation about the future popularity of power
systems and power electronics.
“There is always a time delay in the react
students to current events,” Kezonovic saii
here is
Aggieh
some ti
Aggie Bonfire
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what’s the dec
Reggie “Tl
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Beginning
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effect of the market’s recent tluctuations.il: - m „ publicly?
out of corporate scandals, and events sumc. going to try 01
Sept. I 1 remain to be seen. At this point a: 1^ curre nt st;
enrollment numbers to such events \uv s ] 10wn t hc pas
pure speculation.” | McNeal ha:
Singh said he was excited about theupsi. | asn ’ t been set
numbers. When No. 16 1
“EPPEI had .1 ver> strong reputation, Ik wm _ |-,j s teamn
“The program is well respected by the: fans know he \
industries and by professors in the field act j n t i ie state
country.
Hawking
Continued from page 1
Fry said.
“This will also stimulate both
the graduate and undergraduate
studies for A&M and the
physics department.”
Dr. Lewis Ford, associate
head of the Department of
Physics, said the institute will
bring top scholars in the area of
physics together.
“We have a very strong
research group in theoretical
high energy physics,” Ford said.
“The idea is to have a workshop
from very renowned physicists
and have them work together on
some particular problem in
physics.
“Hawking is second only to
Albert Einstein in physics and is
probably the most famous
physicist who is living. He will
bring great recognition to Texas
A&M.”
In addition, nine or 10 other
top scholars will also be invited
tions, senior qt
. In the fi
: against Austin
with a sprainet
most quarterbz
. •„ ; n ctihitr from an 18-po
While McN
ment has been actively pm
this institute since JanuanS
- It 's g ood,ohavepe#|V-Ow.sv^
that kind of caliber l«. d «“
said. “It will bring greatatt solid detenses
, 1 ^ nnrt d an d time again
to the department and' ThJc ^° r , c
attract undergraduate
ate students to the departm®
“This institute will also
the public excited and ink
ed. It’s the biggest thins
department has experience
recent years.”
Declaration
Continued from page 1
artifacts, including muskets and colonial uni
forms.
The Declaration of Independence was drafted
by Thomas Jefferson and was approved on July 4,
1776. It was signed by delegates from the I' 1
inal colonies. ,
The Declaration of Independence will
display until Sept. 4. However, the Frecj
Journey exhibit will remain on display unit
2003.
Admission is free for all A&M and
dents and faculty.
This year’s
with Virginia 1
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GIG THIS! * s 99Total Move-In
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