ELGIN (STMW) — Police arrested a man found sleeping in an abandoned home in northwest suburban Elgin Friday morning.
Jacob N. Munoz, 51, who is homeless, was found sleeping in the dining room of a home the 200 block of Villa Place, according to police, which said the house had been red tagged.
Munoz was arrested under a city ordinance on occupying a red tagged house, reports stated.
In an unrelated incident, a real estate agent preparing to show an apartment in the 300 block of Raymond Street to prospective renters discovered someone entered the home and had been living there, police said.
The squatters left behind belongings including toiletries, clothing and garbage, reports stated. The stove was left on, and someone had burned the wood floor with cigarettes, which were left discarded in the apartment, police said. A few small items were stolen.
Also found at the scene was a substance believed to be an illegal drug, according to reports. Police are investigating the incident as a burglary.
“Nick Marshall, Bărbat cu B majuscul, este un burlac irezistibil, care îşi închipuie că învârte lumea pe deget. De altfel, s-a autoproclamat “darul făcut de Dumnezeu femeilor”. Dar într-o noapte, în locuinţa sa amenajată “à la Sinatra”, cineva îi dă un brânci, iar şocul îi deschide urechile mai mult decât ar fi visat el vreodată. Nick descoperă că a căpătat el însuşi un dar : poate auzi cele mai ascunse gânduri ale femeilor.”
CHICAGO (AP) – Peerless Industries, a manufacturer of audiovisual mounting solutions, plans to stay in Illinois and add at least 85 new jobs to its 405-person work force over the next three years.
Peerless will move from two campuses in Melrose Park to a single larger facility in Aurora beginning in May. Illinois provided a $2.9 million investment package to leverage nearly $17.5 million in private investment to facilitate the move.
Gov. Pat Quinn says losing the company to an out-of-state location would have put hundreds of people out of work.
The company’s relocation follows a decision last year to return all manufacturing jobs to the United States after four years during which 30 percent of the company’s products were produced in China.
When Italian Carabinieri police captured American fugitive Mark Weinberger in the Italian Alps in December, they received a boost from one of the country’s most popular crime shows, “America’s Most Wanted.”
The show’s Web site helped authorities identify Weinberger, and now the man dubbed the “king of fraud” by the Italian media has been extradited to the United States, while the show celebrates its success.
“I just feel immense pride,” said AMW producer Jenna Griffiths from the show’s office in Bethesda, Md. “I feel so proud that we could help this tiny town in Italy and I was totally shocked when they found him.”
Weinberger was arrested in December camping in snow-covered Alps near the Italian luxury ski resort of Courmayeur on the French border, after five years on the run.
The 46-year-old was thought to be making his way to Switzerland when he was caught in rugged terrain by local Carabinieri and taken to nearby Aosta.
Police had received reports from hikers about a strange man in a tent at around 8,000 feet, and wondered if it was an American who had failed to pay his rent on an apartment in Courmayeur.
Head of the Carabinieri in Aosta, Comandante Guido Di Vita, said police were afraid the man may have been a terrorist and were surprised when they found that Interpol had issued an international alert for Weinberger.
“At the beginning we had no idea he was so important. In the end we were able to piece together the pieces of the puzzle three or four days before his arrest,” he told the Post-Tribune.
“It was not only through Interpol. We also surfed the Internet and saw ‘America’s Most Wanted.’ When we saw ‘America’s Most Wanted’ we were astonished — 300 people affected and 22 charges.”
As “America’s Most Wanted” prepares to air its 1,000th episode this week, the show has extra reason to celebrate the rare capture of an international fugitive. The show featured its report on Weinberger in its season premiere in September 2008.
“I think it means enormous relief for so many people who lost so much money and underwent unnecessary surgery,” said Griffiths, who has followed the case since 2007. “I hope they feel a tremendous sense of justice.”
A U.S. Justice Department spokeswoman in Washington last week declined to comment on the case, saying the department speaks about extradition cases only when the accused is on U.S. soil.
On Thursday, U.S. authorities transported Weinberger from Italy to the United States. He is expected to make an initial appearance on Monday in U.S. District Court in Hammond.
The surgeon was indicted by a federal grand jury in 2006 on 22 counts of medical fraud and could face up to 300 civil claims filed by former patients.
CHICAGO (AP) – Illinois’ first-ever cemetery oversight board has been appointed and will meet for the first time Wednesday.
The board is among the safeguards recently enacted into law to protect the public from deceptive and unfair practices by cemeteries. The law was prompted by troubles at Burr Oak Cemetery in suburban Chicago, a historic black cemetery where former workers allegedly dug up graves in a scheme to resell burial plots.
The board includes cemetery owner Willie Carter, cemetery manager David Evans, cemetery executive director LuAnn Johnson, retired activist Zenobia Johnson-Black, health policy advocate Patrick Keenan-Devlin, cemetery executive director Roman Szabelski, cemetery manager Gregory Vogele and DuSable Museum President Antoinette Wright.
The first strike of immigrant workers in Italy's history will take place on Monday March 1st. Similar peaceful protests are also planned in France, Spain and Greece on the same day.
In Italy, the organizing Primo Marzo (March 1st) committee (a mix of entrepreneurs, journalists and grassroots activists) has been making active use of online media since November, with a related blog and several regional groups on Facebook. This is how they introduce the event:
Cosa succederebbe se i quattro milioni e mezzo di immigrati che vivono in Italia decidessero di incrociare le braccia per un giorno? E se a sostenere la loro azione ci fossero anche i milioni di italiani stanchi del razzismo?
Primo marzo 2010 si propone di organizzare una grande manifestazione non violenta per far capire all'opinione pubblica italiana quanto sia determinante l'apporto dei migranti alla tenuta e al funzionamento della nostra società.
Questo movimento nasce meticcio ed è orgoglioso di riunire al proprio interno italiani, stranieri, seconde generazioni, e chiunque condivida il rifiuto del razzismo e delle discriminazioni verso i più deboli.
Il colore di riferimento di Primo marzo 2010 è il giallo. Lo abbiamo scelto perché è considerato il colore del cambiamento e per la sua neutralità politica: il giallo non rimanda infatti ad alcuno schieramento in particolare.
What would happen if the 4.5 million immigrants now living in Italy decided to go on strike for one day? And what if also millions of Italians tired of racism will support them?
The ‘Primo marzo 2010′ committee is organizing a major nonviolent protest to let the public opinion understand the decisive role of migrants to help our society good functioning.
This movement was born of mixed race and is proud to bring together Italians, foreigners, second generations, and whoever shares the rejection of racism and discrimination against less lucky people.
We chose yellow as our march color, because it is considered the color of change and for its political neutrality: in fact, yellow doesn't refer to any political line-up.
Worsened relations
Particularly over the past year, the living conditions of migrants have worsened, both for those residing in Italy and those who have made attempts to enter the country. There have been several contentious events. In May, authorities refused to accept 227 African citizens who were trying to cross the Sicily Channel by boat to reach Lampedusa island, the southernmost part of Italy. And in July, a national security law that makes undocumented immigration a criminal offense, was approved by the parliament.
About the public perception of immigrants in Italy, Mauro Biancaniello wrote on Facebook:
L'Istat conferma dei dati di cui molti di noi erano già convinti: l'immigrato non è il criminale che lo si dipinge, ovvero che, come abbiamo visto, il reato principalmente commesso è la violazione sulla legge dell'immigrazione. […] L'immigrato (regolare o non), non è un santo. Ebbene sorpresa: nemmeno l'italiano è pronto per la beatificazione
Istat [National Statistics Bureau] data confirms something we already knew: immigrants are not the criminals they are commonly made out to be. In fact their most common violation is against immigration law itself. […] Immigrants (whether documented or not) are no saints. Well, surprise: even Italians could do with some improvement.
The most controversial recent event was probably the so-called Rosarno revolt in Calabria, in early January 2010. Three African farm workers we assaulted by unidentified people, and several immigrants started a street riot with a violent retaliation by local residents. Some sources refer to the involvement of the powerful crime syndicate ‘Ndrangheta, while the government of Egypt presented an official complaint [fr] to the Italian government.
Here is a Rosarno: il tempo delle arance, a documentary by Nicola Angrisano about the entire incident [it]:
Giuseppe Civati, a blogger and politician, shares a detailed infographics map that shows the degree of dependence on immigrants in Northern Italy to help illustrate what many people are asking: Can we imagine an Italy without immigrant workers?
In Rome, an open discussion on the ‘geography of exclusion' during the economic crisis will take place in front of the parliament, called “Lessons of illegality”:
Fare della nostra clandestinità la nostra ricchezza, rivendicare la nostra eccedenza e mettere in comune le nostre esperienze e i nostri saperi [per] renderci visibili e prendere parola contro le politiche e le retoriche razziste, contro lo svilimento del mondo della formazione, contro la precarizzazione delle vite.
We wish to transform our clandestinity into our wealth, claim our surplus and share our experience and knowledge [to] make ourselves visible and speak up against racist politics and rhetoric, against the degradation of education, against life insecurity.
A documentary film by the weekly magazine Carta, called In Between, is being widely distributed in advance of the day. It stars six young people from different European countries who describe their everyday lives negotiating the differences between the culture they live in, and the one from which their families come from.
Nove città europee di sei differenti Paesi. In ognuna di queste città, alcuni giovani, figli di migranti, raccontano le proprie esperienze, le proprie sensazioni e ricordi, il loro modo di percepirsi e di essere percepiti, la loro quotidianità e le sue sfide. Italia, Francia, Germania, Olanda, Portogallo, Spagna. Nonostante le diversità, tutti i protagonisti del video si raccontano in una situazione che li accomuna: persone che si trovano nel mezzo, portatori di un’identità di confine che li colloca fra il paese da cui provengono i loro parenti e quello dove vivono, seconde e poi terze e poi enne-esime generazioni, sempre ri-conosciuti solo a partire dalla loro provenienza.
Nine European cities from six different countries. In each of these towns, some young people, descendants of migrants, will share their experiences, their feelings and memories, their way of perceiving themselves and being perceived, their everyday life and their challenges. Italy, France, Germany, The Netherlands, Portugal, Spain. Notwithstanding their differences, all the characters of this film describe a situation they all share in common: They are people who find themselves in between – with an identity that places them between the country from which their relatives are from, and the one where they live. Second, third and N'th generations, always ‘recognized' on the basis of their origin.
Activists and netizens are busy in preparation for the major protest on Monday. Small and large events are expected throughout the country. This Google map by the Primo Marzo 2010 organizing committee shows many locations, while a Web-TV will host a special 24-hour programming on the event.
Terre Libere, an online outlet devoted to minorities and current events, shares an appeal from immigrants in Rosarno:
Non siamo venuti in Italia per fare i turisti. Il nostro lavoro e il nostro sudore serve all’Italia come serve alle nostre famiglie che hanno riposto in noi molte speranze. I mandarini, le olive, le arance non cadono dal cielo. Sono delle mani che li raccolgono.
We did not travel to Italy as tourists. Our work and our sweat helps both Italy and our own families whose only hope is in our daily work. Tangerines and olives do not fall from the sky. These are the hands that pick them.”
The Italian GV Lingua team contributed to this post, including: Beatrice Borgato, Bernardo Parrella, Tamara Nigi.
* Un om cu un singur ceas stie cit e ora.Un om cu doua ceasuri
nu este sigur niciodata.
* Anticipari negative conduc la rezultate negative. Anticipari
pozitive conduc la rezultate negative.
* Cind un lucru iese prost, orice incercare de a-l indrepta nu
face decit sa-l strice si mai mult. (de luat aminte mai ales daca o dati in bara intr-o relatie)
* Lucrurile se inrautatesc inainte de a se imbunatati.
* Lasate singure, lucrurile se desfasoara de la prost la mai
prost.
* Orice lucru care incepe bine se sfirseste prost. Orice lucru
care incepe prost se sfirseste si mai prost.
* Lucrurile incep sa mearga prost, toate deodata. (si oare de cate ori am trecut prin asta)
* Singurul mod de a descoperi limitele posibilului este de a
trece in domeniul imposibilului.
* Anumite lucruri sint imposibil de cunoscut. Dar este imposibil
de aflat care sint aceste lucruri.
* Informatia se deformeaza cind trece spre nivelele ierarhice
superioare.
* Intr-o intreprindere, confuzia creste odata cu nivelul ierarhic
* Pentru un biciclist, indiferent in ce directie o ia va fi la
deal si impotriva vintului.
* Dupa ce adaugi doua saptamini la termenul de predare a
proiectului, datorita unor intirzieri neprevazute, mai adauga
inca doua luni pentru intirzierile neprevazute care nu pot fi
prevazute.
* Mai sigura este o pasare in mina decit una care zboara pe
deasupra capului. (pentru ca s-ar putea sa-ti lase o amintire;nu stiu daca placuta,dar cu siguranta va avea un miros aparte)
* Cu cit stirile proaste se transmit mai repede si mai detaliat,
cu atit mai bine.
* Istoria nu se repeta, dar istoricii da.
As long as TouchFlo3 has existed, there has been an annoying process that had to be done before you were allowed to listen to some tunes, but we have to suffer it no longer.
This new Tweak was created by appelflap, and instead for your music being loaded right when you would like to listen to it, it does it at startup. This means instead of the music library being rebuild when you click the music tab, it is done when your phone is turned on. This cab also it refreshes your music collection when you insert you SD card.
If you have been running TF3D and you also use it for your music, this cab might really help you.
A member of Pyongyang, North Korea’s traffic police on the job. Image by BryanH. Follow the jump to watch video.
North Korea may be a totalitarian hellhole run by a lunatic with an affinity for women’s M.C. Hammer glasses, but we’ll at least give Dear Leader this: his army of traffic-control maidens is a sight to behold. Stationed at intersections throughout Pyongyang, the uniformed women of the city’s traffic police go about their mission with robotic precision. It comes off as a deadly serious affair – no smiling, no banter – as they point what little traffic there is in the direction it needs to go. And, really, it is serious business: After all, even though there may be traffic lights, there’s little electricity available to power them.
As such, the burden of maintaining order on the roads falls on the shoulders of these often pretty, yet always stern-faced officials. As one oblivious Mini Cooper driver learns in one of the videos posted after the jump (how does one come to own a Mini in NoKo, anyway?), you can get the traffic girls to leave their posts, which are defined by circles drawn in the intersections, if you ignore their instructions. Only they won’t do so until after they complete a formal, choreographed changing of the guard ceremony.
Other observations: in the summer, the blue uniform tops appear to be exchanged for white ones, and the traffic-control stations (at least some of them) are augmented with shaded platforms that presumably make the job somewhat more bearable. It’s all bizarrely fascinating to watch, which you can do in several videos posted after the break.
Topic of the Month: Making the Leap from Best Efforts to Mandatory Deliveries
Notes from the Field: Part II of II (Part I available upon request)
For mortgage originators, maximizing profits while minimizing risk is the key to operating a successful business. One way originators selling and delivering loans on a Best Efforts basis can increase profitability is by transitioning to Mandatory Deliveries and managing the interest rate risk themselves or with the help of a third-party vendor. Recent observations have shown that the spread between the all-in Best Efforts price and the all-in Mandatory price has increased from the typical 20-30 basis-points to over 60+ basis-points* on some product/noterate combinations, making the switch from Best Efforts to Mandatory deliveries more appealing than ever before. This article will identify and discuss the key factors that are required to make a successful transition from Best Efforts to Mandatory selling. In last month’s article we identified the need for developing appropriate lock-in and hedging policies and procedures, establishing relationships with Broker Dealers and Whole Loan Investors, and the need for accuracy when transferring data from the Loan Origination System to the Risk Management System. In the conclusion of this article we will discuss different methods of managing Pipeline Risk, the importance of performing Best Execution Analysis and the selection and implementation of hedge accounting methodology.
One vital step when considering the switch from Best Efforts to Mandatory is developing a hedging strategy to manage the interest rate risk inherent with Mandatory execution. Mortgage originators granting a loan’s rates and terms weeks and sometimes months in advance of its actual closing, expose themselves to changes in market interest rates and mortgage pricing from the lock-in date until the loan is allocated to a mandatory commitment and the sale price is set. The risk being that a lender grants rates and terms on day N at price X and when the loan has closed on day N+15, interest rates in the market are higher, and the loan is sold mandatory at a price of X-0.25, with the worse execution eroding the expected profit margin on the loan by 25bps. In order to offset this risk, avoid market losses and preserve the loans expected profit margin, originators can sell forward or otherwise enter into short positions in various fixed income instruments to hedge their pipeline’s exposure to fluctuations in rates. Rather than offset the market risk on every individual loan, hedging is performed in aggregate, in an attempt to reduce the overall market exposure of the pipeline. Among the more popular hedge instruments are Agency MBS, MBS Options, Treasury Futures, Treasury Future Options, EuroDollar Futures and Mandatory Forwards. Originators choosing to hedge can do so with the help of a third-party vendor like Compass, or with the proper tools, analytics and expertise, hedging can be performed in-house.
Another form of Pipeline risk is Fallout Risk, or the risk that a hedged loan lock fails to close. This typically occurs when interest rates fall after loan terms and rates are set, and can result in the pair-off transaction of a hedging instrument, at a possible loss to the originator. The conundrum faced by lenders choosing to sell loans Mandatory is that in a rising rate environment, when loans in the pipeline are out of the money, we expect a high percentage of the loans to close, whereas conversely in a declining rate environment, when loans in the pipeline are in the money, we would expect a lower percentage of the loans to close. This situation where loans carrying losses are more likely to close, and vice versa, requires lenders that are hedging to adjust the amount of hedge coverage applied to the pipeline depending whether a loan is in or out of the money to the originator. By observing historical fallout across different market environments, lenders can implement dynamic pullthrough assumptions by market move and apply coverage based on the percentage of loans that they expect will close. For example, a loan that has a Mark-to-Market value that is 50bps underwater might be covered at ~75%, while a loan that is 50bps in the money might be covered at ~60%. By conducting regular pullthrough analysis, originators can reduce their exposure to Fallout risk by ensuring that they have the optimal level of coverage applied to the pipeline.
In order to maximize profits, lenders need to search for ways to squeeze every last dollar out of each loan. One way to do this is to conduct Best Execution analysis on loans ready for allocation to Mandatory commitments. Since most lenders have several delivery channels for selling loans mandatory, originators must price out each individual loan using the different investor’s models to ensure that the maximum mandatory price available to the lender is captured. It is important to conduct the analysis every day, as even in the event that the market levels remain unchanged day over day, a loan’s Best Execution can change, since most whole loan investors publish daily changes to their model’s pricing components, such as par noterates, noterate adjusters and buy up, buy down schedules. It is also important to analyze execution at the loan level in order to take Loan Level Price Adjustments (LLPA’s) into consideration. For example, let’s assume we have 2 Conforming 30 year 5.375% loans, one with escrows and one without, that are eligible for Mandatory sale with 2 different investors. The loan with escrows Best Exes to Investor A because the all-in price is better than Investor B’s by 10bps. However, the loan without escrows Best Exes to Investor B because Investor B only charges 12.5 bps for no escrows, while Investor A charges 25bps, making investor B the better execution by 2.5 bps. By diligently conducting daily Best Execution analysis, originators ensure that they are maximizing profits on a loan by loan basis.
Now that we’ve discussed ways to reduce risk and maximize profits, we need to determine the best way of recording and reporting financial results. The final topic covered in this article will be the selection and implementation of hedge accounting methodology. Today, most lenders have moved away from FAS 133, which required somewhat complicated effectiveness testing and was known to cause volatility in earnings from one month to the next, and have switched to some form of Fair Value Accounting. Companies wishing to use fair value accounting must first elect to apply the provisions of FASB 157, "Fair Value Measurements" before they can adopt FASB 159 or other variations of fair value accounting. The main difference between hedge accounting and best efforts accounting is that in hedge accounting, the lender is able to book the change in mark-to-market value of their liabilities and assets on their balance sheet while in best efforts accounting, only cash accounts from purchased loans are reported on.
By tracking historical fallout and managing pullthrough assumptions, modeling the changes in duration and convexity of the loan pipeline and hedging instruments that result from rate shocks and applying a hedge strategy, mortgage originators can reduce the pipeline risk inherent with selling loans mandatory. By accurately deriving the true market value of the loans on a daily basis, and determining the best method of reporting financial results, lenders can ensure that they are maximizing profits and reporting their financial results in a way that reduces earnings volatility month over month. Investors interested in making the leap from best efforts to mandatory sales can use the steps identified in parts I and II of this article as a guide in order to help facilitate a smooth transition. -Bob Gundel
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Just a week ago, the rumor was spread that new TVRs will be coming to the U.S. and that they’ll cook their tires with U.S. engines – but you’ll probably have to wait until this year’s Goodwood Festival of Speed to get the details. Now we’ve been told that you can buy remanufactured versions of the Tuscan, Sagaris, and T350, and you don’t have to wait at all!
These old-as-new TVRs are being sold as rolling chassis, the same way you would buy a Superformance or Rossion, and have otherwise been made to comply with U.S. DOT laws. They’re available through Carmel Motorsports in Indianapolis, and all you’ll need to do after a phone call and a cash transfer is show up with an engine or a trailer.
We don’t know where the supply of cars is coming from, however. The “official” TVR isn’t building cars; these are coming from a company called Total Vehicle Remanufacturing. TVR, get it? We don’t know anything about them, but hey, one call to Carmel can answer all your questions if you decide you’re ready for the raw rear-wheel-drive power of what used to be Blackpool’s finest. Hat tip to Alexis!
The HD2 can do many things, and with Windows Mobile anything is possible. This new tweak was made by the XDA member exidler. The tweak uses the HD2’s proximity sensor to turn of the screen when a finger or any object is detected in front of it. This would work a little like during a phone call, except it does not turn back on until you press a hard button. This tool only works in portrait mode, to prevent accidental screen-offs when using landscape apps.
It switch off screen using proximity sensor detection.
Like alternative power button.
After proximity detected – screen switched off and proximity sensor don’t used until screen will be switched on again manually.
I was thrilled to hear that current apps will be compatible with the iPad, but I’m more excited for apps that haven’t been written yet. Apps for the iPhone and iPod touch are designed for use while being held. There’s an exciting new use case that comes with the iPad — when it’s sitting in the dock. Owners not only have a new device to read news while on the couch, but they also have the perfect peripheral display.
What’s a peripheral display? Something that provides basic information without distracting you from your primary task. It runs silently in the background and it’s there when you need to retrieve some glanceable information. You already use plenty of them every day: clocks, stock tickers, weather icons, unread email icons, etc. I currently use one app on my iPhone as a peripheral display: Flip Clock. I think we are soon going to see a lot more apps like this.
My perfect peripheral display app would come with a few basic widgets like a clock, calendar, stocks, weather, and access to photos on the iPad. The app could then offer upgrades (perhaps $2.99 each) for access to services like Flickr, Picasa, Twitter, Facebook, CNN (and other news sites), etc. The app could be free with the requirement that one of the widgets shows advertisements. A quick paid upgrade (perhaps $9.99) would remove the ads and offer a spot for another widget.
I’ve taken the liberty of mocking up in Photoshop what this app may look like using the iPad GUI. Below you can see a few basic widgets, a tweet that changes every few minutes, and a photo slideshow powered by Flickr. The tweet includes a link which when tapped should close this app and launch Safari. This applies to the other widgets too; tapping them should launch their corresponding apps. Interactivity makes this app better than any digital picture frame available.
There are tons of apps that provide basic information, but now they can be combined to take advantage of the larger screen.
Now that I’ve filled your head with ideas, go build it! Just think of me when you publish the app to the store. Also, let me know if you think this is a good idea.
Activision’s Dan Amrich has made some clarifications regarding the kick-off date of Blur’s multiplayer beta. Don’t worry, there’s no delay. Apparently there’s just been some confusion over when it’ll actually start.
Other than that, there didn’t seem to be much of a difference: Both systems have a common currency, while states are forced to manage their own budgets.
However, this was not exactly correct, and it’s worth clarifying.
We do actually have a automatic mechanisms for bailing out the states. As George Soros noted today in a CNN interview, we do have various transfer/welfare mechanisms that are funded in part by the federal government. Unemployment benefits, for example, are coordinated at the state level, though the Federal Government replenishes these funds with loans. Federal health programs serve a similar effect. These aren’t considered “bailouts” per se, but that’s exactly what they are.
Granted, California is nowhere near “bailed out,” but without these various mechanisms, the situation wou ild obviously be much worse, and a Greek-style crisis here would be much more acute. (It could happen anyway here, we don’t know, but the point is for now we do have some curbs and limits that take some of the edge off).
Now of course, some will react that we should “let ’em fail,” which is fine so far as it goes, though holders of that view should be aware that big, liberal states like California and New York have long been net payers to the Federal Government, while more conservative “red states” have been net recipients in the tax system. This is not good or bad, it’s just what it is, and it out to be considered.
There is new evidence, introduced by a key lawmaker on Friday, that levels accusations that Toyota hid evidence pertaining to vehicle rollover cases. The evidence has come to light via the subpoena of former Toyota attorney Dimitrios Biller’s collection of documents pertaining to Toyota’s hiding of evidence regarding other safety issues.
“We have reviewed these documents and found evidence that Toyota deliberately withheld relevant electronic records that it was legally required to produce in response to discovery orders in litigation,” Rep. Ed Towns wrote in a letter Friday to Toyota North America President Yoshimi Inaba. “Many of these documents concern ‘rollover’ cases in which the plaintiff was injured.”
Among the documents was a letter from Biller to his supervisor advising the disclosure of certain information, as required by law. According to Biller, Toyota maintained ’secret books of knowledge’ regarding safety issues.
Representatives for Toyota were not immediately available for comment.
In somewhat separate news, the NHTSA announced its purchase of the Lexus ES350 owned by the Smith family, who had testified at Wednesday’s congressional hearing. The car will be the subject of thorough examination at the NHTSA’s vehicle Research and Test Center in Ohio.
Koenigsegg is ready to celebrate 15 years of producing supercars with the launch of the new Koenigsegg Agera – a new supercar aimed to take the company’s performance to the next level.
“The development of the Koenigsegg Agera has been evolutionary, following the Koenigsegg tradition of continuous improvements, by honing and perfecting the end result, all based on previous experience and innovative mindsets. The focus when developing the Koenigsegg Agera was to maximize, driving experience, cornering speed, braking and adaptability,” says Christian von Koenigsegg.
But after looking at the picture above, you’re probably thinking that the Agera looks like every other Koenigsegg – well, that’s because that’s what the company is aiming for. Koenigsegg says that its design of the concept CC, created 15 years ago, is still fresh and competitive today so the Agera will stay true to the original philosophy, shape and size of the CC. However it will perform, handle and feel like something totally new.
Power for the Koenigsegg Agera comes from the same 4.7L V8 as the CCX, however its been twin-turbocharged to produce a total of 910-hp with a maximum torque of 737 lb-ft. That will allow it to go from 0-62 mph in 3.1 seconds with a top speed of more than 240 mph.
Koenigsegg will produce the Agera right next to its CCX and CCXR at its facility outside of Ängelholm, Sweden.
At least 40 people have been killed in France after it was battered by heavy rain and hurricane-force winds in the country’s worst storm for more than a decade.
Many victims drowned in floods, while others died when they were hit by falling trees and branches or when parts of buildings broke off.
Strong gusts reached speeds of about 130mph on the summits of the Pyrenees and almost 100mph along the Atlantic Coast.
More than one million residents suffered power cuts. Worst affected was central France and Brittany, where rivers overflowed.
Toyota is shipping hundreds of data-decoding machines to the U.S. to make them commercially available in the wake of complaints that the event data recorders on their vehicles are encoded in such a way as to only be readable by machines owned by Toyota. Up until now, there was only one such decoder in the United States. Increased pressure from lawmakers and lawyers has compelled Toyota to make these decoders available, so that the information may be accessed by law enforcement agencies or consumers.
There is a federal rule in place that is set to require that such data be accessible by consumers starting in 2012, and Toyota is taking steps to make the units commercially available by 2011. Making better use of the ‘black-box data’ was one of the key changes outlined by Akio Toyoda last week.
While some say that such data will be helpful in the determination of causes of such crashes, others question the value of such information as the boxes only record events for a few seconds leading up to a crash.
Usually when we hear about a tuner working on a Ferrari, it gets us wondering who out there actually feels that their Italian stallion isn’t powerful enough for the roads. However, when a well-known tuner like Novitec Rosso works on a Ferrari, we somehow understand that there is a reasoning behind their modifications.
Meet the new Novitec Rosso Race 848 – a two-seater supercar based on the Ferrari 599 GTB Fiorano. After undergoing Novitec’s modifications, the car makes a whopping 848-hp and 621 lb-ft of torque from the GTB Fiorano’s 6-cylinder V12 engine. That allows it to run from 0-62 mph in just 3.4 seconds with a top speed of more than 214 mph.
The Novitec Rosso Race 848 also features a new aerodynamic kit developed in a wind tunnel, an upgraded interior, a three-piece 21-inch wheel set, a sports suspension and a high-performance brake system.
Novitec says it will only build three units to ensure exclusivity.
Novitec Rosso RACE 848:
Press Release:
NOVITEC ROSSO RACE 848
– 848 hp / 624 kW, 842 Nm and a Top Speed of 345 km/h+
– World Debut at the Geneva Motor Show 2010
NOVITEC ROSSO RACE 848 – this name stands for an absolutely unique high-performance sports car. Only three of these automotive masterpieces will be built. The two-seater car is based on the Ferrari 599 GTB Fiorano and celebrates its world debut at the Geneva Motor Show 2010.
Underneath the striking aluminum skin that sports the unusual color combination of matte white and grey beats an extremely powerful heart: The NOVITEC ROSSO RACE 848 twelve-cylinder twin compressor engine produces 848 hp / 624 kW of power and has a peak torque of 842 Nm. Powered by this engine the car sprints from rest to 100 km/h in less than 3.4 seconds, to 300 km/h in just 23.7 seconds, and reaches a top speed in excess of 345 km/h. This exclusive special model also features an aerodynamic-enhancement kit developed in the wind tunnel, three-piece 21-inch wheels with matching sports suspension, a high-performance brake system and exclusive interior options.
The NOVITEC ROSSO RACE 848 is powered by an evolutionary stage of the tried and proven twin-compressor engine conversion for the six-liter V12 four-valve engine of the F599. For an additional power increase of 40 hp / 29.4 kW both mechanical chargers were fitted with modified turbine blades, several details of the engine peripherals were modified and the engine electronics were reprogrammed.
The high-performance chargers have an electronically limited boost pressure of 0.48 bars. The chargers are driven by a cogged belt and have their own dedicated oil circuit. A large water-to-air intercooler with dedicated water circuit also contributes greatly to the optimal power yield. A custom-developed intake manifold, high-performance injectors and sport air filter round out the engine conversion.
In addition, high-performance headers custom-designed for the compressor engine and the NOVITEC ROSSO stainless-steel quad sport exhaust system with a pipe diameter of 90 millimeters are also installed. The intensity of the exhaust note can be adjusted with a little switch on the steering wheel called the ‘manettino.’
The NOVITEC ROSSO engine management system coordinates the perfect interaction of all conversion components and ensures excellent power yield, running smoothness beyond reproach and maximum longevity.
The NOVITEC ROSSO RACE 848 specification represents a power increase over the production engine of 228 hp / 167.8 kW to 848 hp / 624 kW at 7,900 rpm. Simultaneously peak torque grows by 234 Nm to 842 Nm at 6,300 rpm.
Longer carbon-fiber NOVITEC ROSSO shift paddles make shifts of the six-speed F1-Superfast transmission even quicker and more precise. The gearbox also plays a major part in the superior performance of the car. Acceleration from rest to 100 km/h takes just 3.4 seconds, the sprint to 200 km/h a mere 9.6 seconds. With a sprint time for 0 – 300 km/h of just 23.7 seconds the NOVITEC ROSSO RACE 848 solidifies its position among the world’s fastest-sprinting sports cars. The car reaches a top speed of more than 345 km/h.
This level of performance places highest demands on well-balanced aerodynamic properties which received their finishing touches in the wind tunnel. The NOVITEC ROSSO front spoiler lip reduces lift on the front axle. The rear apron is upgraded visually and aerodynamically with a rear diffuser. The NOVITEC ROSSO rear wing further increases downforce.
The NOVITEC ROSSO rocker panels calm the airflow between front and rear wheel arches and their large air ducts optimize the supply of cooling air for the rear brakes.
The unique paint scheme sets the NOVITEC ROSSO RACE 848 even further apart from the rest: The matte-white aluminum body contrasts with grey accents such as the roof and parts of the hood to create an especially sporty appearance. Black side markers, black tail lights and third brake light as well as LED backup lights add further visual highlights.
The high-performance equipment also includes three-piece NOVITEC ROSSO NF3 wheels shod with Pirelli P Zero high-performance tires. The alloy wheels with five double spokes measure one inch diameter more than the production wheels. The front axle features size 9Jx20 wheels with size 275/30 ZR 20 tires. Size 12.5Jx21 wheels and size 355/25 ZR 21 tires on the rear axle provide excellent traction.
The king-size wheels offer space for the high-performance brake system developed in cooperation with brake specialist Brembo. The system uses the largest brake components currently approved for street use. Front and rear axle feature steel discs with a diameter of 405 millimeters and six-piston brake calipers. This system represents an optimal combination of braking power and endurance.
The height-adjustable NOVITEC ROSSO sport suspension also allows the damping rates to be set to the individual preferences of the future owners of the super sports car. The suspension’s lift function on the front axle can be activated with a push of a button in the cockpit. It raises the front of the vehicle by 40 millimeters to safely navigate such obstacles as speed bumps or parking garage ramps. Upon reaching a speed of 80 km/h the suspension automatically reverts to its original drive position.
The interior of the NOVITEC ROSSO RACE 848 offers an especially exclusive ambiance and features a limited edition plaque with the car’s serial number. The interior is built to the customer’s exact specifications and the customer can choose between a highly luxurious or a Spartan racing flair. The interior appointments include aluminum pedals and foot rest as well as the NOVITEC ROSSO leather/carbon-fiber sport steering wheel with flattened bottom for easier entering and exiting of the vehicle.
Locul 3 in preferintele mele din 
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