Author: Serkadis

Earlier today, Beyonce was spotted on the set of the Put It In A Love Song video shoot. Keep checking for more pictures!

02.09 – Put It In A Love Song Video Shoot

Sandia Park, New Mexico | Eccentric Homes

Ross Ward began carving wood in junior high school. His first piece was a miniature wooden circus. Little did he know this was to the first of many thousands of carvings, paintings, etchings, and drawings he would complete in his lifetime. His first subject was a fitting one: Ward eventually gained employment as a carnival backdrop painter and for over 30 years he traveled with the circus, exhibiting his self-taught paintings and carved miniatures around the world.

Today a 22-room museum, also built by Ross Ward, is packed with Ward’s art as well as his eccentric collections of American ephemera. The museum itself is a curiosity built out of 50,000 glass bottles. A true labor of love, it took Ward four decades to build, collect and stock the Tinkertown museum. Wagon wheels, old fashioned store fronts, and western memorabilia also make Tinkertown’s exterior as much a part of the museum as the wonders within.

Among the many other items the museum features, besides Ward’s art, are thousands of wedding cake couples, antique tools, bullet pencils and much, much more. Other highlights include Otto the one-man-band and Esmerelda, the Fortune Teller (a quarter each) as well as a 35-foot-long antique wooden sailboat that braved a 10 year voyage around the world. It is displayed in the backyard.

A testament to just how much one man can accomplish in his life, in the words of Ross Ward: “I did this all while you were watching TV.”

On March 20th, 2010, join us on a special back room tour of Tinker Town, an eccentric museum created over four decades by a carnival backdrop painter!

No matter how much you push the envelope, it’ll still be stationery. (I know, keep my day job.)

Why wouldn’t investors want to gobble up securities made up of jumbo loans? Well, how about delinquencies? In a story out of Business Week, "US prime jumbo mortgages at least 60 days late backing securities reached 9.6% in January from 9.2% in December, the 32nd straight increase for "serious delinquencies," according to Fitch Ratings." This is almost 3x the rate in 2008. Folks in the business know that non-agency securities don’t have the guarantees/insurance of Freddie, Fannie or Ginnie Mae. So where do these beasts trade? According to the article, last March they hit a low of .63 (so a loss of almost 40 cents on the dollar versus the original principal balance) but are now up into the low 80’s.

This raises the question "Why would an investor buy a pool of mortgages?" In the past, banks, who were, and still are, making fees on originating the loans, didn’t have to hold on to them, but instead could pool them and make them attractive to buyers. The buyers did not hold the individual mortgages, but parts of huge packages of them. Kind of like thinking about how delicious the Orange Chicken is at Panda Express and not having to think about how it got there. On top of that, the rating agencies told investors that the pools were safe, especially so in light of recent appreciation trends. Unfortunately now the rating agencies can’t quite say that, and are having difficulty trying to figure out how to rate any pool of mortgages.

Here in Cal-e-for-ni-a, according to DataQuick, million-dollar home sales continue to decline.  In 2009, 18,621 California homes sold for $1m or more last year, down about 24% from 2008 and the fourth consecutive year of sales volume declines. At some price, however, houses see buyers; the drop in the number of higher-priced house sales was countered by higher sales in all price levels. Total California home sales increased 16.9% to 460,166 in 2009, from 393,703 in 2008.

Yesterday I mentioned that, on Friday, the FDIC closed a bank, and that "the loss of $11.7 million will be shared with the taxpayer picking up about $3 million of the expense." An executive from the FDIC reminded me that, "All of FDIC’s expenses, including losses on liquidating failed banks, are paid for by the insurance premiums that open banks pay and from earnings on investments in U.S. Treasury securities.  Taxpayers pay nothing, and FDIC receives no Congressional appropriations." As best I could tell, however, currently income tax makes up between 45-50% of our government’s revenue, which in part goes to pay the interest on U.S. Treasury securities – but point well taken about the FDIC.

Brokers selling loans to Bank of America’s wholesale group were reminded that they must pre-register with an appraisal management company for all case numbers assigned past February 15th. Appraisals can be initiated on behalf of Bank of America by using LandSafe Appraisal, for from one of the following AVM’s: ISGN, LSI, or First American. BofA also stated that FHA lenders are prohibited from accepting appraisals "prepared by appraisers who are selected, retained or compensated by mortgage brokers and commission-based lender staff. In addition, enforces appraiser independence by prohibiting the mortgage broker from having substantive communications with the appraiser regarding valuation, ordering, or managing the appraiser assignment."

I don’t know how I let this one slip by me, especially since I need a new washing machine – so why not buy an REO property to go along with it? Some time ago Fannie Mae announced their "HomePath Appliance Incentive" program, which smaller investors such as Flagstar are following. So for purchase agreements signed after 1/28 and closing before 5/1, Fannie Mae is offering buyers an incentive of up to 3.5% of the final sales price to be used towards the purchase of new Whirlpool appliances by Fannie Mae. In Flagstar’s case, if "the buyer wishes to utilize any portion of funds towards the purchase of new appliances, the maximum appliance allowance is limited to 3.5% of the final sales price. Borrowers may take advantage of additional seller contributions towards closing costs and prepaids. Total appliance allowance plus seller contributions to closing costs and prepaids may not exceed 6% of the final sale price." (Section 38 of the Real Estate Addendum will note what funds are used for closing costs and what amount is used for appliances.)

more news on Pulte, Caliber Funding, markets and origination flows, treasury refunding, and joke of the day … <<< CLICK HERE TO CONTINUE

Ok it’s official, EUR/USD is trading based on Greece and that’s about it today. It’s been slammed now that a bailout might not happen. So then now what happens if, on Thursday, a bailout is announced? There’s a pretty high probability that a bailout is coming, it’s just the shape or form which is up for debate, in our view. Yet EUR/USD didn’t seem too concerned with knowing what the shape or form of today’s rumored bailout would have been… it simply wanted a bailout, any bailout. Badly.

Join the conversation about this story »

See Also:

• Euro Shorts Flee The Scene Ahead Of The Greek Bailout
• What It Means The Portuguese Sovereign CDS Curve Is Now Inverted
• Europe’s Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels

Fort Washington, PA – PartMaker Inc., a division of Delcam Plc, is pleased to announce that PartMaker Version 2010, its latest version of PartMaker Software for programming CNC Mills, Lathes, WireEDMs, Turn-Mill Centers and Swiss-type lathes is now available. PartMaker Version 2010 is the most significant PartMaker release made to date as it features a number of new powerful features and enhancements that will allow users to program faster, make more complex parts and take advantage of the latest in machine tool technology.

“PartMaker Version 2010 is the most significant release made to date and will provide every PartMaker user an immediate productivity improvement,” states Delcam’s PartMaker Inc. Division President, Hanan Fishman. “Plugging into Delcam’s development staff, the largest in the CAM industry, has facilitated the incredible leap in technology included in PartMaker Version 2010. Perhaps most importantly, all the new technology in PartMaker Version 2010 is provided in PartMaker’s industry leading easy-to-use user interface, allowing users to truly take advantage of the new functionality Version 2010 provides.”

Major highlights of this newest release, PartMaker Version 2010, include the ability to perform 5-axis simultaneous milling on multi-axis lathes, more powerful milling functionality, enhanced grooving routines, faster tool path creation, improved solid model-based programming tools and the ability to better visualize thread whirling. A host of additional productivity, user-driven enhancements will also be featured in PartMaker Version 2010.

The 5-axis simultaneous milling functionality in PartMaker Version 2010 is based on robust, well-proven technology used in PowerMILL, Delcam’s world leading specialist NC CAM software for the manufacture of complex shapes.

Calex Electronics Ltd announces the availability of the EFIL-100-10 filter module. The EFIL-100-10 is a compact 1″ x 2″ x 0.45″ (2.54 x 5.08 x 1.14 cm) input differential and common mode filter for Calex DC/DC Converters. The board mount unit is housed in a water washable non-conductive case and is available with either RoHS or non-RoHS construction. The EFIL-100-10 is designed to be used in series with the input to the DC/DC Converter, between the source and the converter. A single EFIL-100-10 can be used as the front end for multiple DC/DC converters as long as the total input current does not exceed 10 Amps DC.

The maximum input voltage for the EFIL-100-10 is 100 Volts DC. The maximum input frequency is
100Hz. The EFIL-100-10 is isolated input to output at 1000 Volts DC. The differential mode insertion loss is typically 31 dB. The common mode insertion loss is typically 28 dB. The operating temperature range is -40ºC to +60ºC. The storage range is -40ºC to +105ºC.

The EFIL-100-10 is available from approximately four to six weeks after receipt of order.

Programable Logic and Analogic modules for Distributed Processes

Save PLC tasks by carry out the calcul and control in field!

The MAC-3500 Series are powerful modules for analog an d logic control, friendly programmables by Function Blocks for an easy realization of infinity of projects. The MAC-3500 Series allows to work as RIO (Remote Input Output) or directly like a PLC. Optionally, can be transmit by Radio, Ethernet cable o WiFi.

Powtran new product PI8000 & PI8100 sensorless vector control ac drives will launch soon.
Product orientation:
Based on the latest motion control theory and technological achievement.PI8000/8100 is brand new sensorless vector control high performance frequency inverter series of POWTRAN Technology. It achieves perfect motor control via servo function, and offers comprehensive drive solution.

Technical feature:
1. Sensorless Vector control frequency inverter with high performance, excellent quality and low pollution
2. It achieves quick-response and precise control by decoupling control of motor magnetic flux current and torque current, which makes the speed adjustment and torque control runs at a high degree of accuracy and wide range.
3. Brand new hardware platform, advanced processing technique and perfect testing equipment, which guarantees the applicable reliability

Function Introduction:
Central control module based on DSP, realizes high-speed and high performance control. Integrate V/F control, V/F+PG control, vector control. Automatic recognize the parameter of the motor! Auto-adjust to the best control mode!
Dead zone compensate function and Automatic slip compensate, 180% torque output can come out below 0.5HZ frequency.
Eight switch inputs, three analog inputs, two analog output, 0-10V or 0-20mA from inside the scope of the definition signal!
Support feedback signal: 0-10v, 1-5v, 0-20mA, 4-20mA
Simple PLC Function, at most 15 segments speed control and 8 segments accelerationcontrol can be realized.
Humanization display menu, highlighted Chinese OLED+LED, simultaneous display 3 groups of state parameters.

More and more the seek for cost reduction implies easy and quick assembling in electrical cabinets, and in the smaller space if possible : the new generation of our celpac products is the answer

Performances & reliability :

-Maximum voltage up to 1600V (690VRMS), 600VAC and 1200VAC as standard,
-Thyristor rating up to 95A (IRMS = 96A @ 100°C ; IRMS = 125A @ 85°C,
-Large input range : 3-32VDC with regulated current models,
-AC input control available,
-Input status yellow LED
-Over-voltage protection on input,
-New generation of TMS² technology for thyristors for a longer life expectancy
-Quick and easy connections,
-Designed according to European standards EN60947-4-3 (IEC947-4-3) and EN60950 (VDE0805 reinforced insulation) -UL-cUL
-IP20 protection with removable flaps (SU range) or cover (SA range)
-Other protection devices in option : RC snubber, VDR, self turn-on
-Fixation screws compatible with SO or SC relays in hockey puck style

Price-effective & small-size solution :

-The 22,5mm pitch of our Solid state Contactors reduces space to the minimum,
-Reduced assembling time, easy cabling
-Reduced maintenance thanks to a very long life expectancy
-One single screw driver for input and output

Different types are available :
-SA range : with screws connection – transparent protective cover – for mounting on your heatsink or panel mount,
-SAL range : « ready to use » on 22,5 and 45mm heatsinks,
-SU range : with pluggable connector on inputs – removable flaps for protection – for mounting on your heatsink or panel mount ,
-SUL and SUM range : « ready to use » on 22,5 and 45mm heatsinks.

Filed under: Sedan, Geneva Motor Show, Volvo

The 2011 Volvo S60 is set to make its debut at next month’s Geneva Motor Show, and as expected, the automaker’s newest midsize offering remains true to the concept that bowed in Detroit last year and comes packing a formidable blend of tech and safety features.

The images in the gallery below speak for themselves, but with a sloping greenhouse and a pedestrian-safe front end, the all-new S60 certainly packs more presence than the outgoing model. A wagon variant is expected to arrive in Europe later this year, but Stateside consumers likely won’t get a crack at the five-door model.

Compared to its predecessor, the S60 grows by one inch to 182.2 inches overall, with a 109.3-inch wheelbase (up by 2.3 inches over the last generation) and a one-inch widening up front, along with 1.7-inch stretch in the rear. All told, the S60 is less than 100 pounds heavier than the outgoing model.

Power will be provided by a twin-scroll turbocharged 3.0-liter inline-six putting out 300 horsepower and 325 pound-feet of torque, with maximum twist available at 1,500 rpm. Coupled with a six-speed automatic and a Haldex all-wheel drive system, the S60 T6 AWD will run to 60 mph in 6.5 seconds and top out at 155 mph. Expect the front-wheel drive model to debut alongside the wagon late in 2010.

European consumers will have their choice of a turbo’d and direct injected 2.0-liter four-pot, along with a diesel and a dual-clutch gearbox. There’s also talk of the S40’s turbocharged 2.5-liter (T5) making its way underhood later in the S60’s lifecycle, which should be good for 227 hp and 236 lb-ft of torque.

Three separate suspension systems will be available: Base, Dynamic and Four-C Adaptive. Dynamic will be optional and use stiffer springs and bushings, combined with retuned dampers and thicker piston rods, with the Four-C setup utilizing Volvo’s new adaptive damping system.

Naturally, safety isn’t left out of the package, and with the S60, Volvo has incorporated it’s newest system – Pedestrian Detection – which utilizes the City Safety crash avoidance system, a front-mounted radar unit and mirror cameras to detect pedestrians over 31 inches tall and apply the brakes to prevent a collision.

All the details are available in the press release below the fold and expect a slew of videos later today showing the new S60 in action.

Continue reading Geneva Preview: 2011 Volvo S60

Geneva Preview: 2011 Volvo S60 originally appeared on Autoblog on Tue, 09 Feb 2010 12:55:00 EST. Please see our terms for use of feeds.

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Is the rally about to unravel?

A German government spokesman says the reports of a Greek bailout are unfounded.

So far the market is still higher, but by about 168, rather than the 220+ they were up previously.

Both CNBC and Reuters are reporting the comments.

Now check out the 9 ways Greece could still possibly get bailed out >

Join the conversation about this story »

See Also:

• Dow Now Up 200 On Greek Bailout

CHAMPAIGN, Ill. (AP) — Schools across central Illinois are closed and police are handling dozens of ac-cidents as snow continues to fall.

The National Weather Service says anywhere from 3 to 5 inches of snow fell across the region through early Tuesday.

Another couple of inches is possible during the day and a little more overnight.Forecasters expect blowing snow to become a problem by Tuesday afternoon.

Most schools in Champaign, Bloomington, Peoria, Decatur and virtually every small town in between are closed.

The Illinois State Police say they’ve handled more than 70 accidents on Interstate 57 in the Champaign vicinity alone.

Read the original article from Herald & Review.

Filed under: China, Etc., Videos, Hummer, Humor

Hummer may be the most hated automotive brand in the history of the green movement, but even Al Gore has to admit that there are times when a big, hulking SUV is necessary. The snowed-in residents of Baltimore City are likely very happy there was at least one H2 nearby when one of their massive snow plows got stuck in a couple feet of the white stuff. We’re not talking a 20 year-old Super Duty with a blade here folks. Nope. We’re talking one of those massive International trucks with four full-sized doors and a plow bigger than your typical midsize sedan.

Hit the jump and watch as the H2 digs deep and rescues the much larger plow truck from the indomitable snow drift. That’s enough of a sign of force to make a Chinese company very proud. Or not.

[Source: WBAL TV]

Continue reading Video: Hummers still good for some things, like towing giant snowplows

Video: Hummers still good for some things, like towing giant snowplows originally appeared on Autoblog on Tue, 09 Feb 2010 12:29:00 EST. Please see our terms for use of feeds.

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Euro bears are fleeing on expectations of a Eurozone bailout, note the huge EUR/USD move in just the last hour. Yet even a bailout from stronger Eurozone nations doesn’t change the euro’s aggregate debt situation. For the euro currency system, debt is debt whether it be Greece’s or France’s. Only an unlikely bailout from outside the Eurozone would change the aggregate debt situation.

Thus for the time being at least, shorts appear to have been benefitting from euro-weakness due to uncertainty alone, rather than the actual debt position of the Eurozone.

Also, this just out:

AP:

Bernard Valero, a spokesman for France’s foreign minister said Tuesday that “we must help” Greece. “It’s about helping a friend … we are the European family.” He did not give any details of that help.

European Union leaders will issue a statement on Greece’s debt crisis during a Thursday meeting, officials said Tuesday, but added the contents had not yet been discussed and would not say if it would lay out details of a possible bailout.

Join the conversation about this story »

See Also:

• Europe’s Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels
• ECB Chief Trichet Flies To Emergency Meeting On The Crumbling Euro
• The Euro Experiment Failed: Europe Is Less Unified Than Ever

Is it any wonder that NBC Universal keeps having trouble? If you painted them a map that explained how to clearly provide people what they wanted, the company would do the exact opposite. Two years ago, during the summer Olympics, NBC Universal severely limited online offerings. It didn’t let people embed videos. It only made events that people weren’t as interested in available online, and even then, would delay much of the content online. The backwards thinking here was that if they blocked the “good stuff” out and made it only on TV, it would drive people to the TV. Of course, NBC’s own research showed that the more people watched online, the more they watched on TV. But, of course, by limiting access, not that many people watched online through legal channels (a lot more watched elsewhere). And, at NBC, they considered this a success. Seriously.

And to prove it, NBC Universal is apparently going to make things even worse this time around. TorrentFreak points us to a MediaWeek piece that describes NBC Universal’s “plan to fight piracy,” that makes so little sense it makes the whole Jay Leno fiasco look well-organized.

Rather than giving people a choice, NBC is limiting its live streaming even more. There are 300 events at the Winter Olympics in Vancouver, and NBC is going to stream a grand total of two of them live online: curling and hockey. And, then its spending a ton of wasted effort getting lots of other sites to try to block live streams of Olympic events. You know what would have stopped those live streams in a way that NBC could have profited from? Providing those live streams directly. What sort of company sees that there’s demand for a product and then purposely decides to not offer it and to actively stop others who are trying to offer it? Wow!

NBC’s explanation for all this is just as bizarre:

“One of the things we learned in Beijing is that people really go to the Web for highlights,” said Perkins Miller, svp, digital media at NBC

Perhaps that’s because you didn’t offer much live streaming last time around, and the only events you did so on were the events no one cared about.

But, of course, the best comes from Rick “oh-those -poor-corn-farmers-decimated-by-piracy” Cotton, NBC’s general counsel, who seems so fixated on “stopping piracy!!!” that he seems oblivious to the concept of providing real value:

“Our aim is to make access to pirated material inconvenient, low quality and hard to find,” said Rick Cotton, NBC’s evp and general counsel. In terms of Web piracy, “you are never going to go to zero. But there has been a sea change in terms of recognition of the problem.”

Again, you solve the problem of people going elsewhere by giving them what they want, not purposely deciding not to give them what they want and then getting upset when they go find it elsewhere.

And you wonder why, for the first time ever, a broadcaster is expected to lose money on the Olympics?

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This feels like that day back in October 2008 when CNBC broke the news of something witht he acronym “TARP” and markets went crazy. Of course, the euphoria proved to be short-lived.

This time the bailout is in Europe. Hopefully things work out better this time.

The Dow is up 200 and is now up on the month.

Join the conversation about this story »

See Also:

• Market Explodes Higher As EU Prepares Greece Bailout

Five years ago, a DuPage County jury, in a split verdict, found an Aurora gymnastics coach guilty of inappropriately touching seven of the 14 girls who accused him of abuse.

But two years ago, as Michael Cardamone served a 20-year prison term, a state appellate court overturned his conviction after justices found the jury was allowed to hear too much testimony of uncharged allegations.

A new trial was ordered.

On Monday, the long legal saga took another twist as prosecutors sought a legal do-over, while evoking the infamous double jeopardy case of Chicago Outfit Enforcer Harry Aleman.

Prosecutors asked DuPage Circuit Judge Blanche Hill Fawell to either vacate the jury’s not guilty verdicts or declare a mistrial because, they claim, Cardamone conspired with his mother, wife and an employee to doctor gym work schedules and provide untruthful testimony during the 2005 trial.

Prosecutors cited certain case law, including Aleman’s case, that supports double jeopardy exceptions.

Aleman was convicted at retrial of a 1972 Chicago Teamsters union steward’s murder after it was learned his attorney bribed a Cook County judge who had acquitted him originally. Though the two cases are dissimilar, prosecutors argue, Cardamone also manipulated the outcome of his trial.

“(Cardamone) employed fraud and collusion to obtain the findings of not guilty,” the prosecution motion states. “There is no doubt that these frauds were perpetrated with the knowledge and approval of the defendant, who testified consistently with the false alibi-type evidence and forged documents.”

Cardamone, 33, who wears an electronic monitoring device, has been free on a $550,000 bond since shortly after his initial conviction was overturned in March 2008. He is awaiting a new trial.

He is living with family in Oswego and is barred from having contact with his accusers, all of whom live in the Aurora and Naperville area. Cardamone has fought the allegations since his initial arrest in late 2002.

“(The) motion is in direct retaliation against me in my fight to prove my innocence,” Cardamone said after court.

“This case is an example of malicious prosecution. The appellate court overturned this case because I was not given a fair trial in DuPage County. (The prosecution) has done everything they can to defer and hinder me from proving the facts in this case, which do prove innocence.”

The new controversy arose after his estranged wife, Elizabeth, against whom he filed for divorce, began cooperating with the prosecution and said she lied while testifying during the trial.

She later recanted, but Cardamone’s mother and a gym employee were charged with forgery based on statements Elizabeth Cardamone provided the prosecution with the hope they’d help her regain custody of the former couple’s two sons.

Michael Cardamone is due back in court March 8. Judge Fawell is expected to rule on the prosecution motion after a hearing is held on the issue.END_ATTRIBUTION

Read the original article on DailyHerald.com.

The second of three Waukegan men charged with breaking into cars in Gurnee pleaded guilty Monday in Lake County circuit court.

Myles Irby, 19, was placed on probation for two years after pleading guilty to burglary during a hearing before Circuit Judge John Phillips.

Assistant State’s Attorney George Pappas said Irby, his brother Ellis Irby, 30, and Marcus Keys, 17, broke into at least 20 vehicles in the Pembrook and Westgate subdivisions on July 1 and July 2.Police were called by a resident who saw the three walking in her neighborhood around 4 a.m., and the responding officer found them carrying what appeared to be stolen property.

The trio took purses, cell phones, GPS units, cash, tools and other property, police said.

Ellis Irby pleaded guilty to theft in December and was placed on 30 days probation, Pappas said.

Keys has pleaded not guilty to burglary and is due in court Feb. 24.

Phillips ordered Myles Irby to pay $3,452 in restitution and to perform 100 hours of public service before his probation is up.

Read the original article on DailyHerald.com.

In this morning’s Breakfast With Dave, analyst David Rosenberg discusses the various strategies that you, the investor, can use to hedge against losses during a period of delfation. When commodity prices are falling and the dollar is dropping, here’s how you protect yourself:

—–

1. A focus on safe yield, wherever you can get it. High-quality corporates (non-cyclical, high cash reserves, minimal refinancing needs)

2. Equities: focus on reliable dividend growth/yield; preferred shares (“income” orientation).

3. Whether it be credit or equities, focus on companies with low debt/equity ratios and high liquid asset ratios – balance sheet quality is even more important than usual. Avoid highly leveraged companies at all costs.

4. Ultra-selectivity with regard to financials. Same for retailing.

5. Focus on sectors or companies with these micro characteristics: low fixed costs, high variable cost, high barriers to entry/some sort of oligopolistic features, a relatively high level of demand inelasticity (utilities, staples, health care).

Join the conversation about this story »

See Also:

• Rosenberg: Even With The Government Throwing Money At The Problem, Home Sales Collapse
• Credit Suisse: This Is No Bear Market, Get In There And Buy The Dips
• Siegel: 2010 Will Be Great For Stocks, And A Rate-Hike Will Only Cause A Two-Week Market Swoon

Those who already got their copies of Dante’s Inferno will notice an insert that details the release schedule for the game’s upcoming DLC. For the benefit of those who haven’t gone to hell yet, here it