Mitt Romney’s ‘Free and Strong America’ PAC announced a new donation program today called ‘Prescription for Repeal.’
According to a release, the program’s aim is to “support conservative candidates who will repeal the worst aspects of Obamacare and restore commonsense principles to healthcare.”
The first endorsements go to three conservatives in key Ohio Congressional Districts.
Representative Jean Schmidt of Ohio’s Second Congressional District who is running for reelection to her third full term.
Representative Steve Chabot, who served as Congressman in Ohio’s First Congressional District for fourteen years is running for his old seat.
Steve Stivers, a former State Senator running for Ohio’s Fifteenth Congressional District. His opponent, Representative Mary Jo Kilroy (D-OH), voted in favor of healthcare reform.
The PAC will send each endorsed candidate a primary election contribution of $2,500.
“America has unfortunately been taken down the wrong path by President Obama, which is why it’s critical we elect fiscally-responsible conservative leaders who will restore commonsense principles to healthcare,” said Romney.
Not only is the PS3 the heaviest console in history, it also has the best software library according to Famitsu. The Japanese gaming magazine crunched some numbers and found that the PS3 has the highest percentage of
Twitter is moving slowly but surely when it comes to its business features and accounts we’ve been hearing so much about. Slated for introduction at the end of 2009, not much has materialized even until now. It looks like it may be moving closer to launching at least one feature aimed at businesses, Twitter Contributors, announced last Decemb… (read more)
2011 Ford Super Duty – Click above for high-res image gallery
Volatile gas prices and increasingly stiff emissions standards were supposed to kill the auto industry’s horsepower wars, or so we thought feared. Recent news out of the General Motors and Ford camps appears to prove otherwise. The second act in the battle for power supremacy took a turn for the better last November when The Blue Oval announced that the 2011 Mustang would receive a 305-horsepower 3.7-liter V6 powertrain; a hair more punch than the 2010 Chevrolet Camaro V6’s 304-hp output. But what’s one extra horse between neighbors, right?
The General struck back a couple weeks ago when it announced power figures for the 6.6-liter Duramax diesel available in the 2011 Chevrolet Silverado and GMC Sierra heavy duty pickups. The new Duramax pumps out 397 hp and 765 lb-ft of torque, besting Ford’s 6.7-liter Power Stroke diesel that was announced just a few weeks earlier by seven hp and 30 lb-ft. Ford likely isn’t going to take this Super Duty setback lying down, and sources tell our friends over at PickupTrucks.com that the company Henry built is looking to regain the power lead within a year.
PickupTrucks.com reports that the new 6.7-liter Power Stroke diesel engine is an all-new architecture that likely has plenty of room for more punch, while the 6.6-liter Duramax is an older engine with less room for improvement, so the seesaw battle may not last too long. And sources say Ford engineers could crank the mill beyond 400 ponies and 775 lb-ft; or enough power to tow Florida closer to Texas.
But for now GM’s new fullsize pickups hold the power figure crown while Ford engineers look on with malice in their micrometers. At least Ford has that one pony lead over the Camaro, right? Rumor has it that the Bowtie brand is working on that one, too.
Após o anúncio da parceria das preparadoras Roush Perfornance e Barrett-Jackson, a novidade agora é a produção de uma série limitada do belo Mustang. Segundo as empresas, a versão especial terá a produção limitada a somente 50 unidades, e 25 delas possuirão chassi 2010 com motor 4.6 V8, e os outros 25 modelos terão chassi 2011 que terá o potente 5.0 V8 sob seu capô.
Uma pintura especial será feita nesses veículos, com rodas de aro 20″ cromadas, interior totalmente mudado e também alterações técnicas para que o carro fique com um desempenho que seja de acordo com seu visual (isso é medonho, vendo a beleza do carro na foto).
Segundo informações das preparadoras, o modelo da Ford recebeu um supercharger da Roush, um sistema de escape novo e calibragem na ingeção eletrônica para que sejam lançados 540 cv de potência com 70,5 kgfm de torque nas rodas traseiras. Com a nova potência em mãos, o motor também teve que ter seus pistões mudados para que aguentasse. A primeira unidade da série vai ser leiloada no dia 3 de abril em Palm Beach, e as outras unidades custarão US$ 41.495 (R$ 74.600 sem impostos e taxas inclusos).
Managerial decisions influence the distribution of value between different parties. This can lead to conflicting interests among financial claimants, such as holders of equity and debt. The Credit Lyonnais v. Pathe Communications bankruptcy ruling of 1991 before the Delaware court—a case widely perceived to have created a new obligation for directors of Delaware‐incorporated firms—provides an interesting opportunity to assess whether and how equity-debt conflict affects firm behavior. HBS professor Bo Becker and Stockholm School of Economics professor Per Strömberg outline important changes in behavior after Credit Lyonnais. Key concepts include:
The Credit Lyonnais duties are a prime example of how important the Delaware courts are, and how the differences between Delaware corporate law and other jurisdictions can be of significance.
After the ruling, behavior changed for Delaware firms in the vicinity of bankruptcy, which enabled them to enter Chapter 11 in a healthier state, thus making bankruptcy resolution easier.
Firms in distress sometimes have an incentive to undertake actions that hurt debt and benefit equity. Such behavior leads to indirect costs of financial distress, discouraging leverage and reducing overall firm value. A reduction in such behavior took place after the Credit Lyonnais ruling.
Abstract
We use an important legal event as a natural experiment to examine equity-debt conflicts in the vicinity of financial distress. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors’ fiduciary duties in that state. This change limited incentives to take actions favoring equity over debt. We show that, as predicted, this increased the likelihood of equity issues, increased investment, and reduced risk taking. The changes are isolated to indebted firms (where the legal change applied). These reductions in agency costs were followed by an increase in average leverage and a reduction in interest costs. Finally, we can estimate the welfare implications of agency costs, because firm values increased when the rules were introduced. We conclude that equity-bond holder conflicts are economically important, determine capital structure choices, and affect welfare.
30 pages.
“If a loan with rep and warrant violations is modified while being serviced by the investor, is the original broker/originator still obligated to repurchase the loan? If so, are the terms different?” I am going to plead ignorance on this riddle, and frankly I don’t know if the major investors have set forth their policies in writing. But it is an issue that we can look forward to resolving somehow.
Who is Michaelson, Conner & Boul Inc.? FHA lenders may become familiar with this firm, as HUD recently announced that this firm is to serve as “Mortgagee Compliance Manager”. In a few weeks MCB will be responsible for pre-and-post conveyance activity, including the verification and approval of reimbursable expenses for preservation and protection, title reviews, request for time extensions, over-allowable requests, inspection audits, and assurance that conveyed properties meet FHA standards. “Beginning March 31, 2010, Mortgagees may submit these requests electronically using the Department’s new on-line, web-based P260 Internet Portal, eliminating the need for mortgagees to submit paper requests for pre-and-post conveyance activities to HUD.” Mortgagees are required to attend training, and should do so pronto since the use of the P260 portal is mandatory as of April 7. Details are available at HUD, link here and the original press release can be found here.
Yesterday the House Financial Services Committee held a hearing to discuss the future of housing finance, trying to start answering questions about what the new system should do. Many people spoke, although Treasury Secretary Tim Geithner was the headline witness with 17 pages of testimony. “It’s important as we think about the future to make sure we retain what was good in this system.” But Geithner said that the old system, would not be re-created and that Fannie and Freddie’s status as shareholder-owned companies with the implicit backing of taxpayers would end. Basically, Fannie Mae and Freddie Mac won’t be allowed to return to a pre-crisis structure that rewarded shareholders with big profits for years but ultimately saddled taxpayers with massive losses. Look for this to be a long and involved process.
For example, even if the market is under stress, mortgage credit should be available and distributed on an efficient basis to a wide range of borrowers, including those with low and moderate incomes, to support the purchase of homes they can afford. Affordable housing options should be available, and borrowers should have access to easily understood mortgage products. The mortgage finance system should not contribute to systemic risk or overly increase interconnectedness from the failure of any one institution. If there is government support provided, such as a guarantee, it should earn an appropriate return for taxpayers, ensure that private sector gains and profits do not come at the expense of public losses, and the role and risks assumed must be clear and transparent to all market participants and the American people. Regulations should ensure capital adequacy throughout the mortgage finance chain, enforce strict underwriting standards, and protect borrowers from unfair, abusive or deceptive practices.
If your lock desk was busier last week than the week before, you are bucking the trend. The MBAA reported that their sample of applications fell 4.2% last week.
The stock of PMI Group shot up yesterday after Freddie Mac approved PMI Mortgage Insurance Co., or MIC, to guarantee home loans. PMI is the #3 insurer, ranked after MGIC and Radian. MI companies have won approval for subsidiaries to sell policies after main units suffered losses from coverage sold when housing prices were at their peak. In general MI companies have tightened underwriting standards and raised prices to recover from rising claims costs, and are embroiled in questions about rescinding coverage.
As California goes, so goes the nation? Yesterday Realtors (with a capital “R”) released February sales data showing that the median (half above, half below) house price to $279,840, due in part to increased demand from using the tax credit, and that the prices are 14% above where they were a year ago. Overall, however, nationwide Existing Home Sales fell 0.6% in February about as expected. The median price for an existing home was $165,100 in February, down 1.8% from February 2009. “Stable but fragile” seems to sum things up. And the total inventory at the end of February rose 9.5% to 3.59 million existing homes available for sale, which represents an 8.6-month supply at the current sales pace.
FHA mortgage delinquencies dropped in February, with about 4.8% of FHA-backed loans made in the last two years were at least three months late, down from 5 percent in the two-year period ended Jan. 31. FHA officials expect losses to slow, since the 2007 and 2008 are now passing through their worst years: failures most often occur two to three years after a mortgage is obtained.
I am not an expert on short sales even though they accounted for 12% of all sales last year, but I was fortunate to hear a presentation from the Prieston Group on that topic. What are the minimum requirements before a lender will consider a short sale? Basically the home’s value has dropped, the mortgage is in or near default, the seller has fallen on hard times, and the seller has no assets. In the current environment lenders are more willing to negotiate short sales since short sales help the lender avoid the costly and lengthy process of foreclosure (the average loss by a lender is almost cut in half when a short sale takes place instead of a foreclosure) and lenders do not profit from owning & maintaining costly real estate – it is not their primary business line.
Apparently in a short sale, often the 1st lien holder is the only lender who receives any money, and they may or may not pass along proceeds to the junior lien holder and the home owner benefits by resolving the issue without going through foreclosure. Of course, a successful short sale depends on a buyer making an offer to purchase the property and the lender accepting the offer that is close to market value – obviously a point of contention and one that can take a very long time.
And, of course, fraud is a problem. For example, a distressed homeowner can find a prospective buyer and secretly negotiate a low sale price without the lender’s knowledge, and/or can use a straw buyer to purchase the property through a short sale and later sell it back. Or lenders of second liens request money from the buyer or the realtor “on the side”. This payment is made in cash or by cashier’s check and not reflected on the settlement statement therefore illegal and violating RESPA laws. So the Prieston Group recommends lenders obtain a copy of the short sale approval from the lender and that all of the lender’s requirements are being met, be careful if there is more than one existing lien on the property, review the credit report carefully for any red flags on previous mortgage history and both the estimated and final Settlement statements for unusual and unauthorized payments. Signers should be authorized, and watch for any suspicious relationship between the parties (like the borrower buying a home that they are or have rented, the house is an REO, the borrower owned the home within the last two years but currently is not in title, etc.).
The National Association of Realtors has squared off against appraisers on the issue of using BPOs (Broker Price Opinions) as a time saving step to benchmark and vet purchase offers for short sales. Realtors believe that rather than a buyer submitting an offer and not knowing whether it was accepted or rejected for one or two weeks, they could have a response in just a few days. The accuracy and methodology of BPO’s have improved dramatically in the last year, Realtors claim. But appraiser groups told Treasury Secretary Geithner that real estate agents and brokers have an inherent bias toward quick results that produces a fee for themselves.
Mortgage securities did receive a little boost yesterday from Treasury’s Geithner. Rates and prices improved slightly versus Treasury rates, and the current coupon yield spread to the 10-yr Treasury (not exactly accurate, but still used as a benchmark) is sitting around 65 basis points – very strong. We also had Fed Governor Yellen on the tape yesterday, saying that she believes that although the labor market is stabilizing at a high level of unemployment and inflation should stay low, and that the housing market has stalled. And we are in the middle of yet another 3-day period of auctions with $44 billion in 2-yr notes, and $118 billion in all. With inflation expected to be tame, and the Fed expected to leave short-term rates low for an extended period, the argument can certainly be made to own some fixed-rate securities. This morning we’ve had Durable Goods +.5% for February, versus +3.9% in January. After the strong news the 10-yr is up to 3.76% and mortgage prices are worse by .250-.375.
(Warning: I try to give equal time to various political views – “clever is clever”, regardless of politics.)
In honor of the 44th President of the United States, Baskin-Robbins Ice Cream has introduced a new flavor: ” Barocky Road .”
Barocky Road is a blend of half vanilla, half chocolate, and surrounded by nuts and flakes.
The vanilla portion of the mix is not openly advertised and usually denied as an ingredient.
The nuts and flakes are all very bitter and hard to swallow.
The cost is $100 per scoop.
When purchased it will be presented to you in a large beautiful cone, but after you pay for it, the ice cream is taken away and then given to the person in line behind you at no charge.
You are left with an empty wallet and no change, holding an empty cone with no hope of getting any ice cream.
Ford announced today that its SYNC voice-controlled communications and infotainment system has now been installed in more than 2 million Ford, Lincoln and Mercury vehicles.
“The success of SYNC proves that customers want to be connected,” said Ken Czubay, Ford vice president of U.S. Marketing, Sales and Service. “The speed with which we’ve hit the 2 million mark, the premium SYNC adds at auction, and the improvements in purchase consideration show that it is a true differentiator for us, adding real value for the customer.”
SYNC, developed in collaboration with Microsoft, hit the 2 million mark just 10 months after Ford delivered its 1-millionth SYNC vehicle, a 2010 Ford Fusion Hybrid, to Microsoft CEO Steve Ballmer.
Ford also pointed out that when you’re ready to sell your Ford to someone else, you can enjoy some premium with a SYNC equipped vehicle. For example, Ford data analysis shows that SYNC-equipped models of the 2008 Focus are worth more than those without SYNC. After one year in service, the SYNC-equipped models sell for a $240 premium on average. With another year in service added, the SYNC premium is still a significant $200.
Also after receiving a SYNC demo, 80 percent of potential customers report it improves their opinion of Ford and 70 percent are more likely to consider purchase. Among Ford customers who have SYNC on their vehicles, 87 percent are satisfied with how the system works, and 88 percent would recommend the purchase of a vehicle with SYNC to others.
Σύμφωνα με ανακοίνωση του Υπουργείου Δικαιοσύνης των Ηνωμένων Πολιτειών Αμερικής, o Γερμανικός κατασκευαστής πολυτελών αυτοκινήτων, δωροδοκούσε με ποσά αρκετών εκατομμυρίων δολαρίων δημοσίους υπαλλήλους σε περισσότερες από 22 χώρες, έτσι ώστε να παίρνουν παραγγελίες από τις χώρες αυτές. Όπως αναφέρει στην ανακοίνωσή του το υπουργείο Δικαιοσύνης των ΗΠΑ κατηγορεί τη παγκοσμίου φήμης γερμανική αυτοκινητοβιομηχανία, ότι διέθετε δεκάδες εκατομμύρια για δωροδοκία κυβερνητικών αξιωματούχων στην Κίνα, τη Ρωσία, την Αίγυπτο, την Ελλάδα και 18 ακόμη χώρες.
Το αμερικανικό υπουργείο Δικαιοσύνης κατηγορεί την εταιρία, ότι σε συναλλαγές με Ρωσία, Τουρκία, Αίγυπτο, Νιγηρία, Ιράκ και Κίνα, η δωροδοκία κρατικών αξιωματούχων ήταν συνήθης πρακτική. Σύμφωνα με το κατηγορητήριο, η Daimler AG και τρεις θυγατρικές της εταιρίες δωροδοκούσαν με διάφορους τρόπους προκειμένου να παίρνουν παραγγελίες για την πώληση αυτοκινήτων τους στις αναφερόμενες χώρες. Στα βιβλία της εταιρίας οι καταγραφές των χρημάτων για δωροδοκίες περνούσαν ως προμήθειες, «ειδικές εκπτώσεις» ή «έκτακτες δαπάνες». Μάλιστα όπως προκύπτουν από τα βιβλία της εταιρίας παρέδωσαν στα γενέθλια του προέδρου του Τουρκμενιστάν ένα θωρακισμένο αυτοκίνητο.
Το κατηγορητήριο αναφέρεται στη χρονική περίοδο 1998 – 2008. Η εταιρία έχει αποφύγει μέχρι στιγμής να κάνει το οποιοδήποτε σχόλιο. Οι τελευταίες ειδήσεις θέλουν την Daimler να διαπραγματεύεται με τις αμερικανικές δικαστικές αρχές, προκειμένου να σταματήσουν οι έρευνες έναντι καταβολής χρηματικού προστίμου .
Γίνεται λόγος για ένα ποσό της τάξεως των $185 εκατ. με τα $93.6 εκατ. να δίνονται στο Υπουργείο Δικαιοσύνης της Αμερικής και τα υπόλοιπα $91.4 εκατ. στην Επιτροπή Κεφαλαιογοράς.
I recently visited the Deir el-Bahari cache, which is a very difficult tomb to enter. It is down a 15-meter deep shaft, and you must be lowered down by rope into the shaft. From the vertical shaft is the entrance into the tomb: a few stairs down into a roughly cut passage through the rock, which leads to more stairs and ends in a large room where the royal mummies were hidden by priests in the 21st Dynasty. Now we close up the entrance to the tomb so that no one may enter, although there is nothing left inside. The reason for this is to show the importance of this tomb, because inside was found one of the most important discoveries, which is, in my opinion, even more important than the discovery of the tomb of Tutankhamun in 1922.
The story of the discovery of this cache is amazing. A young man named Ahmed, a member of the famous Abdel Rassul family was leading his goats in the hills near the temple of Hatshepsut at Deir el-Bahari, when one of them escaped.
Google runs dozens of services, so you’d be forgiven if you haven’t heard of all of them. Google Bookmarks is probably one of the company’s more obscure products, but it has been around for ages and does see its fair share of use. It got a bit of spotlight when Google introduced the ‘star’ feature on its search engine recently, but it may be getting a much bigger … (read more)
Obama’s new spiritual adviser, Jim Wallis, is also consulting on POLICY. Say what? He claims the Bible mandates the redistribution of wealth… Glenn Beck had the story last night and Breitbart followed up with the video last night.
I spent the morning reading various websites dealing with The Bible and socialism. VERY interesting to say the least. I remember discussing this my senior year with my Bible teacher (who was also a professor at the local Seminary) and discussing the fact that the Bible certainly encourages the ownership of privater property. And while it advocates charity, it never implies that should be enforced by a government.
Considering Communism/Socialism/Marxism is grounded in atheism and the denial of creation, based on a material outlook and the denial of God’s natural order…it seems a bit strange for avowed Marxists to be espousing Biblical admonitions… Can you say false profit?
Once again Obama chooses a pretty radical comrade…
The main thrust of the lecture was the difficulty of presenting epigraphic work and used a lot of computer drawn slides to illustrate his points. This makes it a bit tricky to record on the blog. I will limit myself to the non technical aspects of the lecture which unfortunately make it a bit sparse. The computer bits were quite clever basically by colouring in the epigraphic work in different colours then the software can remove a coloured layer. So you can remove the damage, or the text or the line or the drawings in order to concentrate on the aspect of most interest to you.
Nefermenu was the Mayor of Thebes in the second part of XIX dynasty. His wife was Meryt. This tomb shows the change in the cultic practice around the naos.
My work in the Wilbour Library involves keeping an eye out for books the Library needs, and carrying out archival research into the history of the Egyptian collections in support of the Library’s educational mission. In the Library’s Special Collections I’ve been particularly intrigued by a small group of eighteenth century drawings of Egyptian objects. These were probably made by the German artist Johann Justin Preissler (1698-1771), and provide a rare glimpse into early studies of Egyptian objects.
At the time Preissler made his drawings, Egypt was an inaccessible, mysterious land. Few objects were held in Western museums or collections, and hieroglyphic inscriptions could not be read. Preissler’s drawings are of interest not only because they record objects that may now be lost or damaged, but also because they show how these Egyptian objects appeared to an eighteenth century eye.
South African author Marié Heese won the Commonwealth Writers’ Prize, Africa Region Best Book for The Double Crown: Secret Writings of the Female Pharaoh (Human & Rousseau). It is the story of Hatshepsut, as told by the pharaoh herself. This is an extract.
I am the chosen of the gods. I have always known that. This knowledge has been the source of my strength and my power, and it is the reason why I know that those who now seek my death and desire to usurp my throne shall not succeed.
Yet I have decided that I must make a secret record with details about those whom I do not trust. I shall give the scrolls that I produce into the keeping of my scribe, the faithful Mahu. If I die a wrongful death, he must hand them to someone in power who will avenge me. Mahu will have to decide who the right person might be. I shall ensure that there will be sufficient evidence to see to it that the guilty, if such there are, suffer the just punishment of the gods and do not reap great benefits from treason.
Don’t worry, if you think General Motors of Detroit, Michigan is spending taxpayer dollars on urban transport electric-vehicles, they aren’t… well kind of, depending on how you look at it. Moving on, General Motors of China and its strategic partner, Shanghai Automotive Industry Corp. Group (better known as SAIC) has unveiled their latest urban mobility concept known as EN-V Concept.
Urban mobility concepts are huge on the other side of the world since study shows that by 2030, urban areas will be home to more than 60 percent of the world’s 8 billion people (forecasted figure). Honda recently revealed their take on urban mobility with the new 3R-C and Nissan last year showed its Glider Concept. So how is GM’s EN-V concept any different?
“EN-V reinvents the automobile by creating a new vehicle DNA through the convergence of electrification and connectivity. It provides an ideal solution for urban mobility that enables future driving to be free from petroleum and emissions, free from congestion and accidents, and more fun and fashionable than ever before,” said Kevin Wale, President and Managing Director of the GM China Group.
While all that sounds nice and fancy, it’s really pretty simple. The new EN-V concept is an evolution of GM an Segway’s Puma. It has a closed cabin area to keep you safe, seating for two (instead of a bench like on the Puma) and it has room for light cargo.
Power comes from electric-motors with two driving-mode wheels. Everything in EN-V is drive-by-wire, supporting its ability to operate autonomously or under manual control. The motors get their fuel from a set of lithium-ion batteries that can provide a total range of 25 miles on a full charge.
GM didn’t provide any figures on how long it takes the EN-V to recharge, its top speed or how fast it can go from 0-60 mph, which could be really fun.
Make the jump for the high-res gallery and the press release.
GM EN-V Concept:
Press Release:
GM Unveils EN-V Concept: A Vision for Future Urban Mobility
o Radical Change in Mobility to Address Growing Urbanization Issues
o Convergence of Electricity and Connectivity Redefines Automobile DNA
o EN-V Concepts to be Showcased at World Expo 2010 Shanghai
Shanghai – By 2030, urban areas will be home to more than 60 percent of the world’s 8 billion people. This will put tremendous pressure on a public infrastructure that is already struggling to meet the growing demand for transportation and basic services.
General Motors and its strategic partner, Shanghai Automotive Industry Corp. Group (SAIC), share a common vision for addressing the need for personal mobility through a radical change in personal urban transportation. They are exploring several solutions for tomorrow’s drivers. Among the most promising is a new vehicle form called EN-V.
A Promising Solution
EN-V, which is short for Electric Networked-Vehicle, maintains the core principle of personal mobility – freedom – while helping remove the motor vehicle from the environmental debate and redefining design leadership. EN-V is a two-seat electric vehicle that was designed to alleviate concerns surrounding traffic congestion, parking availability, air quality and affordability for tomorrow’s cities.
Three EN-V models were unveiled today in Shanghai. They represent three different characteristics that emphasize the enjoyable nature of future transportation: Jiao (Pride), Miao (Magic) and Xiao (Laugh). The concepts will be showcased from May 1 through October 31 at the SAIC-GM Pavilion at World Expo 2010 Shanghai. Shanghai is expected to become one of the epicenters for the establishment of personal mobility solutions for the future.
“EN-V reinvents the automobile by creating a new vehicle DNA through the convergence of electrification and connectivity. It provides an ideal solution for urban mobility that enables future driving to be free from petroleum and emissions, free from congestion and accidents, and more fun and fashionable than ever before,” said Kevin Wale, President and Managing Director of the GM China Group.
Breakthrough Technology
EN-V’s platform has evolved from the platform of the Personal Urban Mobility and Accessibility (P.U.M.A.) prototype that was developed by Segway and debuted in April 2009. Segway has worked collaboratively with GM to develop and deliver multiple copies of the drivetrain platform that seamlessly connect to and power the various EN-Vs.
EN-V is propelled by electric motors in each of its two driving-mode wheels. Dynamic stabilization technology empowers EN-V, giving it the unique ability to carry two passengers and light cargo in a footprint that’s about a third of a traditional vehicle. It can literally “turn on a dime” within its own operating envelope. In addition, everything in EN-V is drive-by-wire, supporting its ability to operate autonomously or under manual control. The motors not only provide power for acceleration, but also bring the vehicle to a stop.
Power for the motors is provided by lithium-ion batteries that produce zero emissions. Recharging can occur from a conventional wall outlet using standard household power, allowing EN-V to travel at least 40 kilometers on a single charge. EN-V can also improve the efficiency of the public electric infrastructure since the vehicle can communicate with the electric grid to determine the best time to recharge based on overall usage.
By combining the Global Positioning System (GPS) with vehicle-to-vehicle communications and distance-sensing technologies, the EN-V concept can be driven both manually and autonomously.
Its autonomous operating capability offers the promise of reducing traffic congestion by allowing EN-V to automatically select the fastest route based on real-time traffic information. The concept also leverages wireless communications to enable a “social network” that can be used by drivers and occupants to communicate with friends or business associates while on the go.
This combination of sensing technology, wireless communication and GPS-based navigation establishes a technology foundation, pieces of which could migrate from the EN-V concept and potentially lead the way to future advanced vehicle safety systems.
The ability to communicate with other vehicles and with the infrastructure could dramatically reduce the number of vehicle accidents. Using vehicle-based sensor and camera systems, EN-V can “sense” what’s around it, allowing the vehicle to react quickly to obstacles or changes in driving conditions. For example, if a pedestrian steps out in front of the vehicle, EN-V will decelerate to a slower and safer speed and stop sooner than today’s vehicles.
GM has been a leader in developing autonomous vehicle technology, having worked alongside students and faculty at Carnegie Mellon University in the U.S. city of Pittsburgh, Pennsylvania. This collaboration created “The Boss” Chevrolet Tahoe, which brought autonomous vehicle operation to life in 2007. EN-V takes the lessons learned in “The Boss” and offers mobility to people who could not otherwise operate a vehicle.
“The EN-V concept represents a major breakthrough in the research that GM has been doing to bring vehicle autonomy to life,” said Alan Taub, Global Vice President of GM Research and Development. “The building blocks that enable the autonomous capabilities found on the EN-V concept such as lane departure warning, blind zone detection and adaptive cruise control are being used in some GM vehicles on the road today.”
EN-V has been designed for the speed and range of today’s urban drivers. It weighs less than 500 kilograms and is about 1.5 meters in length. By comparison, today’s typical automobile weighs more than 1,500 kilograms and is three times as long. In addition, today’s automobiles require more than 10 square meters of parking space and are parked more than 90 percent of the time. EN-V’s smaller size and greater maneuverability mean the same parking lot can accommodate five times as many EN-Vs as typical automobiles.
Smaller, Smarter Design
While EN-V leads the way in terms of efficiency and technology, it also sets a new benchmark for vehicle design. For its debut, GM had design teams around the world provide their vision of what future mobility will look like. Xiao (Laugh) was designed by GM Holden’s design team in Australia, while the look of Jiao (Pride) was penned by designers at GM Europe and Miao (Magic) was designed at the General Motors Advanced Design Studio in the U.S. state of California.
Each EN-V has a unique design theme to showcase the flexibility of the propulsion platform. The design gives each EN-V its own personality, with a unique opening, elegant interior and innovative color, lighting and seat technology. Xiao offers a more lighthearted appeal, with its “gumball blue” paint and nautical-inspired design. Miao takes most of its design cues from the consumer electronics industry, as evidenced by its sleek, masculine looks. Designers also used Miao to display innovative lighting solutions, including extensive use of LED accent lighting. With its clean lines and bright paintwork, Jiao takes its design influence from bullet trains and Chinese opera masks.
“EN-V incorporates significant technology and material innovation, which has given the design team a whole new world to explore,” said Clay Dean, Director of Advanced Design for GM North America. “Because of the lightweight structures, materials and integrated controls, we created unique surface forms not traditionally found in automotive applications.”
The body and canopy of EN-V are constructed from carbon fiber, custom-tinted Lexan and acrylic, materials that are more commonly used in race cars, military airplanes and spacecraft because of their strength and lightweight characteristics. The ability to work with such innovative materials provided a learning opportunity for GM’s design teams to study the feasibility of future traditional automotive applications.
EN-V’s compact size makes it ideal for use in densely populated cities thanks to its use of advanced safety and propulsion technologies. But good things come in small packages, as witnessed by EN-V’s innovative interior design, which provides maximum visibility to the world outside. A simple interface for activating Wi-Fi-based technologies keeps occupants connected to the outside world.
“The future of how we move around in urban areas like Shanghai can combine the best of personal mobility and public transit. There is a better solution and it is called EN-V. It demonstrates that we have both the knowledge and the ability right now to create a way to move people that not only ensures a ‘better city’ but also offers people a ‘better life,’” said Taub.
I missed this back in February but better late than never! First of a three part look at the question of who built the pyramids (next two parts yet to be posted). With photographs. Here’s the introduction:
In the first part of January the media began breaking the news that the old yarn about slaves having built the pyramids had finally been dispelled. Dr. Zahi Hawass of Egypt’s Supreme Council of Antiquities announced that three large tombs had been newly discovered very close to the pyramid itself. As the final resting place of some of the overseers of the workforce, both the structure and location of the tombs made it clear that these were no slaves.
Dr. Hawass’ statement that “These tombs were built beside the king’s pyramid, which indicates that these people were not by any means slaves” (source) was widely repeated in the press under headlines announcing that the belief that slaves had built the pyramids could now be retired. But Egyptologists have long known that the Slave Hypothesis was pure Hollywood.
Along with Hawass, Egyptologist Mark Lehner began uncovering the truth of the pyramid builders more than 20 years ago. Lehner was consumed with the question of where such a large workforce could have lived. After conducting the first detailed “to scale” survey of the Giza Plateau, he narrowed his focus to the area around the enigmatic Wall of the Crow, a colossal wall with no apparent related structures.
Lehner hit pay dirt, and his dogged pursuit of these ancient builders led to the excavation of the very city where they lived and worked—a large complex of barracks and permanent housing, distribution centers, industrial sites, and scribal workshops. The recently discovered tombs tell us something of the status of the workers, but the Lost City of the Pyramid Builders gives us the everyday details of their lives.
Most of Em Hotep’s readers will be familiar with Dr. Lehner and his work. But if you are not, then his total absence from the recent news stories may have left you with an incomplete picture of just how strong the case against the Slavery Hypothesis really is. In this three-part series we will take a look at what Lehner discovered about the pyramid builders. We will examine the evidence that the workforce had a surprisingly modern division of labor, followed by a tour of the city itself.
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To the Editor: In their Research Letter, Dr Allam and colleagues described the presence of calcium hydroxyapatite in vessel walls in 15 of 22 ancient Egyptian mummies examined with whole-body 6-slice computed tomographic (CT) imaging. The authors stated that “[c]alcification in the wall of a clearly identifiable artery was considered diagnostic of atherosclerosis, and calcification along an artery’s expected course was considered probable atherosclerosis.” We believe that this criterion was incorrect.
When observing a vascular calcification on a CT (particularly 6-slice), it is not possible to distinguish lesions of atherosclerosis and mediacalcosis. Mediacalcosis is a thickening and loss of elasticity of the walls of arteries (particularly but not exclusively muscular ones) due to a calcification of the tunica media, the concentric layers of helically arranged smooth muscle cells. Such lesions may be seen in all the sites described in the article by Allam et al (abdominal aorta, aortic arch, popliteals, . . . [Full Text of this Article]
Philippe Charlier, MD, PhD [email protected] Department of Forensic Medicine and Pathology University Hospital R. Poincaré (AP-HP, UVSQ) Garches, France
Isabelle Huynh, MD Department of Radiology University Hospital Pitié Salpétrière (AP-HP) Paris, France
Drs Charlier and Huynh propose that mediasclerosis is a unique disease, manifest as calcification of the tunica medica, a disease completely different from atherosclerosis, which they presumably would define exclusively as a disease of the intima. We believe that atherosclerosis is a multifaceted, systemic disease that encompasses both of these histologic features. The earliest pathologic manifestations of atherosclerosis include intimal thickening and fatty streaks, but complex changes occur as the disease progresses, with structural remodeling of the vessel, cellular infiltrates, lipid accumulation, thrombosis, fibrosis, and calcification involving the media as well as the adventitia.
Although mediasclerosis (also called Monckeberg sclerosis) has been attributed by some to a distinct disease process, others regard it as an advanced form of atherosclerosis, most commonly seen in patients with chronic kidney disease and diabetes. These patients often die from heart disease, another manifestation of the systemic disease of atherosclerosis. A distinct metabolic . . . [Full Text of this Article]
Brad Feld points us to the latest in a long line of ridiculous patent lawsuits. Apparently, two foreign companies that have filed “dozens” of similar lawsuits in the last few years are now suing the MBTA (Boston’s transit service) for patent infringement for having a system that sends email/text alerts if a train is running late. The two patents in question (6,317,060 and 7,030,781) highlight why so many people think the patent system is screwed up. There is nothing in creating a system to alert users that their train is late that is all that complicated. If you took just about any group of semi-competent engineers and put them in a room and described the issue, they’d come up with similar solutions. There is no reason to justify giving a patent to such an “invention.” All it serves to do is actively stifle the use of technology.
Twitter is moving slowly but surely when it comes to its business features and accounts we’ve been hearing so much about. Slated for introduction at the end of 2009, not much has materialized even until now. It looks like it may be moving closer to launching at least one feature aimed at businesses, Twitter Contributors, announced last Decemb… (
Google runs dozens of services, so you’d be forgiven if you haven’t heard of all of them. Google Bookmarks is probably one of the company’s more obscure products, but it has been around for ages and does see its fair share of use. It got a bit of spotlight when Google introduced the ‘star’ feature on its search engine recently, but it may be getting a much bigger … (
