Author: Serkadis

Currently involved in what seems to be one of the world’s largest recalls ever, Toyota is also preparing to launch its own performance unit that will be responsible of creating performance-oriented Toyota models. According to insideline.com, the in-house tuning division will wear the Gs nameplate and will launch the first models this year.

The Gs department will work together with several other companies, including Modelista for exterior styling improvements, TRD for some parts and Gazoo Raci… (read more)

On Friday, there was a sudden realization that Amazon had removed books published by publishing giant Macmillan, apparently over a dispute concerning ebook pricing. Of course, Amazon wasn’t just removing Macmillan ebooks, but the physical books as well. After a bit of back and forth over the weekend, Amazon caved in and accepted the way Macmillan wants to price books, which means that Macmillan sets the retail price, and Amazon gets a cut. Previously, Amazon had paid a wholesale price and then got to set the retail prices itself.

I had been under the impression that when manufacturers tell retailers what the end user price is, it’s a form of price fixing, but apparently not…

Of course, what may seem odd about this is that it appears Macmillan will make less per ebook under this model. That’s because with its old wholesale pricing, Amazon was actually losing money on every ebook sold. As the NY Times notes:

In the model that Amazon prefers, publishers typically collect $12.50 to $17.50 for new e-books. Under the new agency model, publishers will typically make $9 to $10.50 on new digital editions.

So why are publishers specifically trying to limit their own profits from ebooks? Because they’re afraid of ebooks cannibalizing hardcover book sales, which is why they’re also looking to delay ebook releases. In fact, in this case, Amazon was given the choice of either increasing the retail price for consumers on Macmillan ebooks, or getting them many months later. All in all, this looks like publishers hurting themselves, yet again, by going against what consumers want in a misguided effort to preserve the way things used to be. Yet, in an age when users are punishing authors and publishers who don’t treat them right, this could backfire in a big way.

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	Should we be building electric cars or streetcars? Which makes more sense, really?		Honda: Insight “too small,” likely to miss sales targets, Fit Hybrid a ‘struggle’ Ambition meets sales figures.
	Greenlings: Can racing really be green? Driving in circles can sometimes be good for the planet..	Other news: Tesla to kill the Roadster in 2011, new version coming in 2013 DOE reduced loan total for Leaf electric vehicle at Nissan’s request Tesla files with the feds for IPO

AutoblogGreen for 02.01.10 originally appeared on Autoblog on Mon, 01 Feb 2010 05:56:00 EST. Please see our terms for use of feeds.

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Julia Roberts has some Valentine’s Day advice for all the Single Ladies out there. At a Beverly Hills press conference promoting the movie Valentine’s Day last Friday, the Oscar winner and mother of three served up some no-nonsense tips for spicing up a relationship — and she’s been in one helluva lot of chick flicks, so she knows what she’s talking about.

When a woman in the audience asked how she could “make him make me happy on Valentine’s Day,” Julia laughed, “Wow. Can we at least dim the lights?”

“How long have you been with your boyfriend? You have sex with him?” she questioned.

When the bashful woman retreated, Julia chided her, “You’re the one that brought it up. You opened Pandora’s box! Where’s the problem? We can fix this.”

“He keeps saying I’m a bad planner,” the woman remarked.

“Make a nice dinner reservation now, because that’s the biggest night out of the year — have a nice glass of wine, and take your top off,” Julia replied as a matter-of-fact.

Article Tags: Newspaper Article

THE lies, the untruths, the paranoid statements, the political point-scoring, the abuse of power, the secretive communications and the cover-ups – not to mention the huge cost to the taxpayer.

Click source link to read FULL report by Donald MacLeod

Source: thesun.co.uk

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With Pedro de la Rosa signing a deal with BMW Sauber F1 team for the upcoming season of Formula One, the Grand Prix Drivers’ Association (GPDA) might be forced to elect a new chairman this year. The Spanish driver had been voted at the helm of the GPDA by all the active drivers in the F1 paddock during the 2008 season, replacing departed German driver Ralf Schumacher.

However, the former McLaren Mercedes tester revealed that his commitment with Peter Sauber’s team will leave him little time t… (read more)

If true, the following rumor may prove to be as exciting as the confirmation of the production version for Audi’s e-tron: BMW decided to produce the stunning Vision EfficientDynamics. According to BMWblog, citing a BMW executive, the Vision has been approved for production and will see the roads in 2013. The exec says the underpinnings of the car, including the hybrid drivetrain and the new 3-cylinder diesel engine are near-production ready.

The full-hybrid Vision is powered by a three-cyli… (read more)

After it announced the new Mazda5 and Mazda6 models will have their world premiere at the 2010 Geneva Motor Show in March, the Japanese carmaker revealed it will also introduce the 20th Anniversary edition Mazda MX-5 at the event. The special edition roadster will be produced in a limited run of just 2,000 units and will only be available in Europe.

The version to have its world premiere at the aforementioned show is based on the same 1.8-litre soft top production roadster model, only that it… (read more)

Come on. You didn’t really think we were about to embark on some era of austerity, did you?

To think that last week people were comparing Obama to Hoover.

—–

AP: President Barack Obama is sending Congress a $3.8 trillion budget on Monday that will increase spending in the fight against high unemployment, boost taxes on the wealthy and freeze spending for a number of government programs.

The deficit for this year would surge to a record-breaking $1.6 trillion, according to a congressional official who had access to a White House summary document. That deficit would easily top last year’s then unprecedented $1.41 trillion gap.

The congressional source, who spoke on condition of anonymity before the budget’s official release, said the deficit would remain above $1 trillion in 2011 and would average 4.5 percent of the economy over the next decade, a level that economists consider a threat to long-term economic prosperity.

In an effort to address the deficit, the president’s budget would institute a three-year budget freeze on a variety of programs outside of the military and homeland security as well as increasing taxes on energy producers and families making more than $250,000.

To support the pledge in his State of the Union address to make job creation his top priority, Obama was putting forward a budget that included a $100-billion jobs measure that would provide tax breaks to encourage businesses to boost hiring as well as increased government spending on infrastructure and energy projects.

After a protracted battle on health care dominated Obama’s first year in office and led to a string of Democratic election defeats, the administration is hoping that its new budget will convince Americans the president is focused on fixing the economy.

Even before the budget arrived on Capitol Hill, Republicans complained about Obama’s proposed tax increases and said the huge projected deficits showed he had failed to get government spending under control.

“I don’t think anybody in the country thinks we have a problem because we tax too little. I think the problem is we spend too much,” Senate Republican Leader Mitch McConnell said Sunday.

But administration officials argued that Obama inherited a deficit from President George W. Bush’s Republican administration that was already topping $1 trillion when he took office, and given the severity of the downturn, the president had to spend billions of dollars stabilizing the financial system and jump-start growth.

Much of the spending surge over the past two years reflects the cost of the $787 billion economic stimulus measure that Congress passed in February 2009 to deal with the worst economic downturn since the Great Depression. The surge in the deficits reflects not only the increased spending but also a big drop in tax revenues, reflecting the 7.2 million people who have lost jobs since the recession began and weaker corporate tax receipts.

The administration’s $100 billion proposed jobs measure would be lower than a $174 billion bill passed by the House in December but far higher than a measure that the Senate could take up as early as this week.

Obama’s new budget attempts to navigate between the opposing goals of pulling the country out of a deep recession and getting control of runaway budget deficits.

On the anti-recession front, Obama’s new budget proposed extending the popular Making Work Pay middle-class tax breaks of $400 per individual and $800 per couple through 2011. They were due to expire after this year. The budget also proposes making $250 payments to Social Security recipients to bolster their finances in a year when they are not receiving the normal cost-of-living boost to their benefit checks because of low inflation. Obama will also seek a $25 billion increase in payments to help recession-battered states.

In a bow to worries over the soaring deficits, the administration proposed a three-year freeze on spending beginning in 2011 for a wide swath of domestic government agencies. It would save $250 billion over the next decade by following the spending freeze with caps that would keep increases after 2013 from rising faster than inflation.

Military, veterans, homeland security and big benefit programs such as Social Security and Medicare would not feel the pinch. Federal support for elementary and high school education would get a big increase as would the Pell Grant college tuition program, which would see an increase of $17 billion to just under $35 billion, helping an additional 1 million students, according to an administration official who spoke on grounds of anonymity before the budget was released.

NASA’s mission to return astronauts to the moon would be grounded with the space agency instead getting an additional $5.9 billion over five years to encourage private companies to build, launch and operate their own spacecraft for the benefit of NASA and others. NASA would pay the private companies to carry U.S. astronauts.

Obama’s budget repeats his recommendations for an overhaul of the nation’s health care system even though prospects for passage of a final bill have darkened given the loss of a Democratic Senate seat in Massachusetts in a recent special election, depriving Obama’s party of the votes needed to break a Republican filibuster.

Presidential press secretary Robert Gibbs insisted Sunday on CNN’s “State of the Union” that the push for health care was “still inside the 5-yard line” but McConnell said the public was overwhelmingly against the bill and the administration should “put it on the shelf, go back and start over.”

In addition to the freeze on discretionary nonsecurity spending, Obama is proposing to boost revenues by allowing the Bush administration tax cuts of 2001 and 2003 to expire at the end of this year for families making more than $250,000 annually. Tax relief for those less well-off would be extended.

Join the conversation about this story »

See Also:

• Soros: Scott Brown Will Create A Double Dip Recession
• It’s Official: Barack Obama Is Just Another Reaganite
• Barack "Hoover" Obama

The world’s most famous soccer star is set to detail his life achievements in a series of comics. David Beckham will be among the stars featured in the forthcoming Fame Biographic Comics from Bluewater Productions.

Beckham will be one of many celebrities — including 50 Cent, Robert Pattinson, and Lady Gaga — due to appear in a series of picture books highlighting the lives of the rich and famous, according to BleedingCool.com — who leaked the first preview sketch of the comic.

“It’s sure to go into all his trials and tribulations, his marriage to Victoria and his squeaky voice. It won’t be comic book hero stuff. Becks won’t be saving the world. It will be gritty and real.”

There are also whispers that the book — penned by Peter Rogers and illustrated by renowned artist Matt Bellisle — will even highlight Becks’ alleged affair with former assistant Rebecca Loos.

Article Tags: Open Letter/Fax

Dear Senator Begich,

As someone who loves my country, I urge you to vote NO on the upcoming Control-and-Tax bill, a bill purportedly designed to fight “global warming.” What global warming?

Senator Begich, are you aware that glaciers are growing in your own state?

Yes, glaciers are growing in Alaska.

According to the US Geological Survey (USGS), glaciers are growing in Alaska for the first time in 250 years. In May, Alaska’s Hubbard Glacier was advancing at the rate of seven feet per day – more than half-a-mile per year. And in Icy Bay, at least three glaciers have advanced one-third of a mile in one year, said Chris Larsen, a scientist at the Geophysical Institute at the University of Alaska Fairbanks.

Senator Begich, I wish you would ask the USGS for a list of glaciers in Alaska, and ask them to tell you – honestly – which ones are growing. I have a feeling that there are more glaciers growing in Alaska than any of us have been told.

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It's now pretty clear why the euro has been tanking against the dollar lately.

Investors have been fleeing the currency in droves -- euro bearishness is back to 2008 crisis levels.

They might not be all that crazy. It seems fair to say that the euro seems worse off today than during the peak of the crisis.

Bloomberg:

Traders have spurned European stocks in favor of shares elsewhere for a record 19 straight weeks, “clearly hurting” the currency by draining a net $13 billion from the market, said Geoffrey Yu, a UBS AG analyst. Investors are as bearish on the euro as they were when the 2008 financial crisis was pushing them to the dollar’s perceived safety, futures data show. After buying more euros than ever in 2009’s second quarter, central banks pared back, International Monetary Fund data show.

Read more here >

Join the conversation about this story »

See Also:

• Spanish Economist Niño Becerra: 'Two Months Until Euro Market Crash'
• Did The EU Just Kill The Volcker Rule?
• Morgan Stanley: Greece Is A Trojan Horse That Threatens The Euro And The Credibility Of Europe Itself

Article Tags: ClimateGate, Joanna Nova, Mohib Ebrahim

Dear ClimateRealists

Just a short note to thank you for featuring my ClimateGate timeline on your site a few weeks back. For the past 4 weeks its been revised, edited and updated and I wanted to advise you the latest version has just been published on JoNova’s site and if you would be kind enough to spread the word I would be grateful.

Thanks for your help and support.

Best regards,

Mohib

Click source link to see the Revised and Edited ClimateGate Timeline (1.1)

Source: joannenova.com.au

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The International Automobile Federation (FIA) looks set to improve the stewarding system in Formula One, starting the very 2010 season. Apart from the inclusion of former Grand Prix drivers in the stewarding team of each race – this has been one of Jean Todt’s most appreciated changes for the upcoming season of Formula One – the FIA has also set up some technological improvements meant to make the stewards’ job easier.

The controversial decisions made by the FIA stewards in the recent seasons… (read more)

Despite the worst recession the UK has seen in over 60 years, Mercedes-Benz managed to increase its market share in the 1.8 tonne – 3.5 tonne segment. The German automaker managed to get a market share of 14.96% and an increase of 3.4% in its five year market share due to the success of the Sprinter and Vito models.

The automaker did not stand immune to the sales drop and the recession, as Mercedes-Benz had 27% less new car sales than back in 2008. The brand sold 20,000 vans, which is not bad… (read more)

With the disaster in Haiti still unfolding, relief efforts from the international community seem to be overwhelmed by the magnitude of the disaster. Speaking at the World Economic Conference in Davos, former President Bill Clinton asked for the international community to get together and raise 100 trucks to be sent to Haiti.

The trucks are needed in the region immediately, with the most urgent need being for rough-terrain vehicles, small trucks and cargo trucks and pick-up trucks.

They a… (read more)

A Los Angeles man is seeking a protective order against hotel heiress and Hollywood socialite Paris Hilton, who he accuses of stalking and sexually assaulting him.

In barely-legible documents, Ramiro Benitez petitioned a California court for a temporary restraining order against Hilton last week. Although his request was denied, Benitez claims he was the victim of “numerous sexual assaults” by Paris. Not to mention physical and financial threats.

Now most of you are probably thinking that Ramiro is a few sandwiches short of a picnic. But is it really so crazy to want to stay 200 feet away from Paris Hilton?

A court hearing on the matter has been scheduled for later this month.

(This psot originally appeared at the author’s blog)

There has been much chatter in recent week’s regarding China’s potential bubble economy.  As we now know, the Chinese government poured in more stimulus per GDP than the United States and with their economy rebounding substantially faster it looks like they are having trouble containing the red hot growth in the broad economy and in asset prices.  This has been nowhere more apparent than it is in Chinese real estate where there is now enough commercial real estate to provide a 5X5 cubicle for every man, woman and child in China.

China International Business recently sat down to interview Zhang Xin, CEO of SOHO China, Beijing’s largest commercial property developer.  Her comments are startling to say the least and are all too reminiscent of the environment we saw here in the United States in 2006 & 2007 where anyone and everyone wanted a piece of the real estate market – except for some of the largest developers like Sam Zell who were selling.

To say that a collapse in Chinese real estate prices would be devastating is an understatement.  A slowdown and asset collapse in China would be potentially catastrophic for the global economy which has become largely dependent on China during this weak recovery.  Attached are a few highlights from the interview:

What is your overall approach to the real estate market today?

Basically – other than Qianmen [Street] in Beijing, which is the only project we decided to hold long term, our strategy for today is to sell everything we have. The real estate business should really be looking at rental yield; build a building and then lease it out with the rent giving a decent return. But, because of where China is with asset bubbles, people want to buy the assets regardless of whether they can be leased out or not. People just want to hold [property], even if it is empty.

Prices are too high, rent is too low, so if you hold property in order to get yield you are likely to get very little. For us it makes no sense to hold property, so our strategy is to sell everything. We see ourselves very much as a manufacturer. We buy land, we build, and then we sell. And the asset bubble has compelled us to be even more of a manufacturer.

When do you think the bubble will burst?

I don’t know. We don’t really have a view on when it will end; [but] we do have a view that this is a bubble. Real estate is very much driven by government policy. This year we have RMB 4 trillion through the stimulus package, another RMB 6 trillion from municipality bonds, another RMB 10 trillion from bank loans: We have RMB 20 trillion in the system and it all finds its way to real estate. If the government next year decides to continue the relaxed monetary policy the market will continue like this, regardless of whether this is a wasteful investment or not – people will still buy and we will still be building and selling.

These buildings are not fully occupied and people should be worried about it. I am sure the government is worried about it, but what do you do, they want the stimulus and if you want to create jobs then this is a by-product. There are a lot of dilemmas in this area – it is not a black and white easy decision.

What is your time period for selling properties?

As soon as possible. We came in [for the Exchange] when it was 30% full and now it’s selling out very quickly. I think in the next few months it is all going to be sold out. People want to buy. It has already reached 50% occupancy.

[Beijing’s] CBD has 35% vacancy but our buildings are all over 95% occupied because we push all these Chinese companies to come in. [Normally] if you go to Guomao as a small Chinese company there is no chance they will lease it to you, they won’t even talk to you.

Jim Chanos just might be right after all and it appears China’s government is keenly aware of the troubles as they begin to implement measures to slow China’s growth….

Source: China International Business

Join the conversation about this story »

See Also:

• Shanghai Nosedives, Down 1.9%, Commodity Shares Whacked
• Jim Chanos: Actually, We’re Not Betting Against China
• Chanos: 30,000,000,000 Sq. Feet Of Commercial Real Estate Being Built In China

Now that the US auto sector is showing some signs of recovery, Ford, the only large Detroit-based automaker that managed to survive without government-backed funds, is looking into ways to launch new models under the brands it owns. One possible scenario is a C-segment vehicle for Mercury that might be released in 2012, several Ford sources have hinted.

First of all, there’s Mark Fields, Ford’s president of the Americas, who said at the West Michigan Automotive Manufacturing Summit that a C-c… (read more)