Category: News

Filed under: LA Auto Show, Government/Legal, Lotus

We had a chance to chat with Lotus USA spokesman Kevin Smith at the LA Auto Show and he shared a bit of news with us. He confirmed that while we unfortunately won’t be getting the limited edition Exige Scura/Stealth that debuted at the Tokyo Motor Show, we will will get something close. The problem is the special matte black paint on the Scura. We reported on the rubberized finish at the time after talking with Lotus vehicle engineering director Roger Becker. The matte finish can be marked up, and because of process used to apply it, it’s not possible to do spot repairs on the affected area.

Because of the litigious nature of America when it comes to product liability, Lotus has apparently opted not to offer the special paint job. We will, however, get essentially the rest of the car including the new wheel design that debuted on the Scura. The rest of the mechanical bits are largely the same as the Exige 260 S that we had so much fun with a few months ago. Lotus is still finalizing the spec of the new limited edition model but Smith tells us that it will be available in four colors including Phantom Black. Approximately 20-30 units will be built for the U.S. market in two-to-three months with availability in early spring.

Photos copyright (C)2009 Sam Abuelsamid, Jonathon Ramsey / Weblogs, Inc.

[Source: Lotus]

LA 2009: Lawsuit-happy U.S. kills chances for Lotus Exige Scura, but we’ll get something similar originally appeared on Autoblog on Thu, 03 Dec 2009 13:58:00 EST. Please see our terms for use of feeds.

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The U.S. services sector is once again contracting according to the Institute for Supply Management’s (ISM) Non-Manufacturing Index.

The latest November index value came in at 48.7, surprising consensus economists who expected it to be 51.5. Any value below 50 indicates a contraction of activity, according to the ISM.

This makes it very clear that the services sector improvement we’ve seen all year has suddenly reversed, after only briefly breaking above the key 50-level. See detailed tables about the latest November report here.

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See Also:

• Surprise! The U.S. Services Sector Is Contracting Again
• The ISM Services Index Stops Rebounding, Missing Expectations
• Postal Services Around The World Need A Bailout

Some commentary [Ed note: from Goldman’s 2010 commodity outlook]:

As we start a new decade with the global economy emerging from the worst recession of the post-war era, we expect the commodity supply-side constraints of the past decade to once again reemerge, reinforcing the sustainability of higher long-term commodity prices – a theme we first began discussing at the turn of the current decade. However, the inability to grow supply after a decade of sharply higher prices turns the question of the sustainability of higher long-term commodity prices into one of the sustainability of higher long-term growth. Anemic supply growth of energy and basic materials runs head-on into the ongoing revolution in emerging markets generated by more than a billion people rising into the ranks of the middle class over the next decade.

We maintain that this undesirable outcome is not the inevitable result of dismal Malthusian logic, but rather the result of deliberate choices as expressed through policy. At the beginning of the current decade, we argued that decades of inadequate investment in commodity productive infrastructure were leading to a “Revenge of the Old Economy”, where a constrained supply base would sustain higher commodity prices. Toward the end of the current decade we argued that the “Revenge of the Old Economy” had turned into the “Revenge of the Old ‘Political’ Economy” where significant policy constraints on the free flow of capital, labor and technology were substantially constraining supply growth for many commodities, regardless of price or expected return. Furthermore, these protectionist policies caused capital not to flow to the most efficient commodity investment but rather to the most freely accessible one that was usually inefficient, extremely high cost/tax with poor rates of return, which put more upward pressure on prices, or in some cases the capital did not flow at all, creating outright physical shortages.

Read the whole thing at Zero Hedge >>

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See Also:

• Amazing: John Paulson Makes $50 Million In Five Weeks On A Gold Trade (DGC)
• Here’s The Real Peak In Gold
• Here’s Why The Mint Is Running Out Of Gold Coins

Sony Corporation and FIFA have announced an agreement for selected media rights of the 2010 FIFA World Cup in 3D. FIFA is to produce the world’s first FIFA World Cup in 3D. Up to 25 of the 2010 FIFA World Cup South Africa matches will be produced using Sony’s 3D professional cameras, which will provide coverage of the action that is unprecedented in depth, vividness and excitement to people around the world.

FIFA will utilize Sony’s experience and know-how of 3D content production to spread the passion inside the stadiums at the greatest sport event in the world to more people than ever before.

From 2010, Sony will be incorporating 3D compatibility into a wide range of consumer products such as “BRAVIA” LCD TV, Blu-ray Disc recorders and players, VAIO and PlayStation 3, to provide a multitude of ways in which 3D content – from 3D movies to stereoscopic 3D games – can be enjoyed in the home. By having viewers around the world experience sensational 3D content from the World Cup tournament, Sony aims to accelerate the expansion of 3D from professionals to consumers in 2010 and beyond.

“The transition to 3D is underway, and, we, at Sony, intend to be leaders in every aspect. Our sponsorship of the FIFA World Cup allows us to leverage our cutting-edge 3D technology and premier products with dazzling content to produce a unique and totally compelling viewing experience. 3D viewers around the world will feel as though they are inside the stadiums in South Africa, watching the games in person,” said Sir Howard Stringer, Chairman, CEO and President of Sony Corporation.

“This propels the football fan into a whole new viewing dimension and marks the dawning of a new era in the broadcasting of sport,” said FIFA Secretary General Jerome Valcke. “We are proud that the FIFA World Cup can serve as a platform for advancing technology and the viewing experience, and are truly fortunate to have Sony as a partner in this endeavour.”

Viewers will be able to enjoy 3D experiences at the following locations:

• During the 2010 FIFA World Cup, FIFA will host the “International FIFA Fan Fest” public viewing events in 7 cities around the world (Berlin, London, Mexico City, Paris, Rio De Janeiro, Rome, and Sydney). At Sony’s commercial displays located within the “Fan Fest,” people will be able to enjoy and experience promotional highlight trailers of the FIFA World Cup in 3D.
• In anticipation of the Official 3D Film, viewers will be able to watch promotional trailers for the film of the World Cup in 3D at retail outlets(including Sony stores) that sell Sony products around the world.
• Sony Pictures Home Entertainment plans to produce and distribute the Official 3D Film on the Blu-ray Disc and other formats.

By combining the excitement of the FIFA World Cup with 3D images generated using Sony’s technology and products, Sony and FIFA will seek to deliver 3D images that convey the action and emotion of the World Cup to viewers around the world, and a viewing experience as if they were in the stadium itself.

Filed under: LA Auto Show, Coupe, Performance, Etc., Technology, Lexus

Wow. Lexus brought their new LFA supercar to the LA Auto Show this year. That might not seem particularly wow-worthy, but it definitely becomes more surprising when you hear that they actually brought an LFA and a half. While a white LFA was happily humming along, spinning slowly on a rotating platform in the middle of the booth, another LFA-like creature lay motionless a few feet away.

It seems Lexus had an extra drivetrain they wanted to display, but instead of just parking the engine, transaxle and other mechanical bits on a stand, they decided to make it something of a cutaway. Rather than chopping up one of those exquisitely woven carbon fiber bodies, thankfully, they supported the running gear in a wireframe cutaway of sorts that mimics the overall shape of the production car. It was even done up in white just like the real thing on the other side of the stand. While some saw it as a novel way to display the internals, we think this might be a sneak peek at the cheaper, simpler Lexus LFA we had hoped for. Or, you know, not.

Check out the gallery below, and do yourself a favor – Take a few extra seconds to ogle that engine.

LA 2009: Lexus LFA wireframe cutaway wows us originally appeared on Autoblog on Thu, 03 Dec 2009 13:31:00 EST. Please see our terms for use of feeds.

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Time again for the weekly European PlayStation Store update. Lots of special offers for both PS3 and PSP content this week. European gamers with the exception of those living in Germany are also getting the

Candied bacon fudge! What a mix! This plus simple ways to improve your cooking, some budget (yet still luxurious) gifts for cooks, and the easiest pasta ever. Read on for the top ten posts published this past week!

15. How Should I Adjust Recipes to Allow for Salted Butter?
14. December Cooking: What Do You Want to Eat Right Now?
13. A Fresh Kitchen Makeover for Only $400
12. Food Gift We’d Love to Receive: Whipped Brandy Butter
11. Holiday Gift Guide: 10 Kitchen Basics Under $25

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Ciara Felder of Mars Hill College received the fourth annual North Carolina Campus Compact Community Impact Student Award during the Compact’s Student Conference held at Western Carolina University Saturday…

According to a new study, women who consume sugary soft drinks prior to conception face an increased risk of gestational diabetes during pregnancy. The study, which monitored thousands of women over the course of ten years, also found that that their children also face an increased risk of early onset diabetes, childhood obesity and glucose intolerance. Read why.  Photo from: Comstock

SACRAMENTO — The Civil Justice Association of California (CJAC) today praised the 8th U.S. Circuit Court of Appeals November 27 ruling that “holding name brand manufacturers liable for harm caused by generic manufacturers ‘stretch[es] the concept of foreseeability too far.’”

The decision is in stark contrast to a November 2008 California court of appeal decision that found Wyeth Pharmaceuticals liable for the plaintiff’s negative reaction to a medication used to treat stomach conditions — which Wyeth pioneered but no longer produced. The plaintiff in that case took a generic drug, manufactured and sold by a generic drug manufacturer, but sued Wyeth for failure to warn of risks associated with the drug.

Of the present case, CJAC President John H. Sullivan said, “the court got it right, showing a refreshing abundance of common sense in telling us that ‘Traditional products liability requires a plaintiff to show that she actually consumed the defendant’s product.’”

The 8th Circuit Court, in ruling the former name brand manufacturer could not be held liable for injuries caused by a generic competitor’s version of the drug, considered and rejected the appellate court’s holding in the California case (which the California Supreme Court refused to review).

“It makes no sense to tie a company’s product liability to a drug that it invented but has lost patent protection — and which the plaintiff was not taking when the injury occurred,” Sullivan said.

Read the opinion in Mensing v. Wyeth by clicking here. (Click the link and search for case number 08-3850.)

Contact: John H. Sullivan
916-443-4900

What’s cooking this weekend? We are thinking about warm and comforting casseroles, as well as holiday parties! Cheese boards (see above), sparkling wines, and delicious nibbles all sound very good. What about you? What are you cooking? Here are a few ideas from The Kitchn’s past week.

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We have been big fans of Ashley Ann’s photography and charming design sense for a while now. So when we saw that she was remodeling her kitchen we had to get a sneak peek. She graciously shared some photos and the story. Here’s a look at how she and her husband remodeled their kitchen for under $500, along with some of the cost-saving tips that let them do it for so little.

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I have decided to hold a press conference to confront stories that I was Tiger Woods’ mistress. I’ve never held one before. Nor have I ever met the man, nor am I “inclined” that way. But I figure that now is a good time to jump on the band wagon, especially if magazines are paying up for stories. Stay tuned for the time and place – it might be more entertaining than mortgage banking, and I’ve never been on the cover of “Us”.

I would imagine that plenty of folks at Bank of America, and their clients, are happy. Bank of America Corp. said that it plans to repay its $45 billion in government bailout funds, as soon as this week! Apparently the Bank has that much available cash, without sniffing around in the safe deposit boxes of its customers, and raise $18.8 billion in capital to repay the money. This is great news for shareholders (the stock moved higher on the news). Of the 4 major mortgage investors & servicers, this will leave Citi ($45 billion) and Wells ($25 billion) with owing TARP funds. There is no news from Citi. As for Wells, ever since they accepted their $25 billion of federal bailout assistance last year, management has said that the bank never needed the money, didn’t want it, and shouldn’t have been forced by the government to take it. They keep saying they’d like to pay it back, too, but have not offered up a schedule.

If you went to a mall last weekend to look for Cabbage Patch Dolls, the odds are pretty good that it was owned by General Growth Properties – they own and manage more than 200 of them here in the US. They are in the middle of a Chapter 11 bankruptcy plan after failing to refinance portions of its $27 billion in debt.

more on GGP, MBAA Apps, FHA MI Changes, GMAC Bank, Wells Wholesale, HAFA, Economy and Markers, and more TIBER WOODS JOKES PART 2 <<< CLICK HERE

JPMorgan’s aggregate global manufacturing and services indicators both tell the same unfortunate story — the global economic recovery slowed down in November.

JPMorgan: “The global economic recovery continued in November, but a growth pause in services hit the overall rate of expansion. However, new business is still rising and this should support growth looking ahead. In addition, official activity data continue to advance, suggesting the underlying recovery remains intact.”

Yet while both the global services and manufacturing indices are slightly above the 50-level, which indicates continued expansion, it’s clear that the up-trend in the data has lost steam.

They also aren’t far from suddenly dropping below 50 next month.

(Via JPMorgan, Growth of the economy slowed in November, 3 December 2009) Note that these global indices are built from manufacturing and services indices for countries around the world, such as from the ISM in the U.S. and from Markit for many other countries.

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See Also:

• Banks Change Advertising MO: Convenience Out, Security In
• Morgan Stanley: Here Comes A Brutal 2010
• Morgan Stanley: What’s With USD’s Pathetic Move In Response To Dubai?

To our Clients, Colleagues and Friends

Despite what you might hear or think, banks can raise equity capital this year.

• $72.4 billion in equity capital
• $31.8 billion in senior debt
• $49.7 billion of preferred equity
• $32 billion in Trust Preferreds

This is private capital showing its optimism for the banking sector an portends, in our view, that 2010 will see a real return to stability in banks.

We see it through our strategic planning and M&A Due Diligence projects.

Garrett, Watts & Co.

The MAG beta will be closing down this Saturday at midnight, but Zipper Interactive has one more test for the beta testers a test of mad MAG skills. Think you’ve gotten good these last

Filed under: LA Auto Show, Crossover, Hyundai, Autoline on Autoblog

Hyundai‘s second big unveiling for the LA Auto Show is its next-generation Tucson, its compact crossover. Like the Sonata sedan, we’ve actually already seen the Tucson for some time now, as it previously debuted South Korea and Europe badged as the ix35 or Tucson ix. We actually first saw this shape as the ix-onic concept at Geneva last March and the production model is only mildly toned down.

Even toned down, though, this is a major departure from the outgoing Tucson. Like the Sonata, that model was a competent but utterly invisible CUV. The new Tucson was created by Hyundai’s Frankfurt-based European design studio and features the same “Fluidic Sculpture” surface language used on the Sonata. Like the sedan, the look is attractive, if not entirely original, as the form seems to draw quite a bit inspiration from the Nissan Murano, especially in the rear. Either way, with its bulging fenders and a multitude of curves and creases, the new style is likely to draw a lot more second glances than its predecessor. Wherever the ideas came from, the Tucson appears to be well-executed overall. Follow the jump to learn more Hyundai’s latest CUV.

[Source: Hyundai]

Continue reading 2010 Hyundai Tucson makes the drive to America

2010 Hyundai Tucson makes the drive to America originally appeared on Autoblog on Thu, 03 Dec 2009 13:00:00 EST. Please see our terms for use of feeds.

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It looks like Paulson’s gold obsession is paying off.

John Paulson has been betting big on gold for a few weeks now, and he is launching a new gold only fund in January.

According to Bloomberg, the hedge fund manager of Paulson and Co might have made $45 million in 5 weeks – off of just one of the gold investments in his portfolio.

Bloomberg reports: “Paulson & Co., based in New York, held 10.3 million shares of Toronto-based Detour as of Oct. 31, according to a Nov. 10 regulatory filing. The stock has gained 34 percent since Oct. 31 to C$17.85 a share at 11:09 a.m. in Toronto Stock Exchange trading.”

Paulson’s other gold holdings include shares in Kinross Gold Corp. and Gold Fields Ltd, and he’s also the largest shareholder of AngloGold Ashanti Ltd.

Read the full story on Bloomberg >>

Join the conversation about this story »

See Also:

• John Paulson Hoarding More Gold Than Several Countries Combined
• John Paulson Is A Great Trader Because He’s Grumpy And Negative
• Paulson Starts A New Gold Fund (KGC, AU)