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A yearly CES tradition: The Adam Frucci white guy dance. If only you knew how he moved when the camera was turned off.

During the launch of (official) 3D gaming for webOS at the Palm CES presentation, the games that got the most attention (and live demos) were Need for Speed Shift and The Sims 3 from EA Mobile. Among the new games, though, was another title which while less well known to most consumers is revolutionary in its own right: X-Plane ($9.99), by Laminar Research. (You can see the full description of X-Plane in PreCentral’s new App Catalog Gallery here.) For avid or even casual flight simulation fans, X-Plane for webOS is the real deal.

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Lost fans can breathe a sigh of relief: President Obama has opted not to give his State of the Union speech on Feb. 2 — which is ironically the same night ABC has scheduled the premiere of the show’s sixth and final season.

“I don’t foresee a scenario in which millions of people that hope to finally get some conclusion in Lost are pre-empted by the president,” White House spokesman Robert Gibbs told The Associated Press at press briefing this afternoon. “I assume it’s a big deal at ABC.”

The network has set aside a three-hour block to show the first episode of the wildly popular show’s last season. Frantic Lost fans launched a Twitter campaign protesting a possible Feb. 2 State of the Union after reports surfaced earlier this week suggesting the Lost premiere would be preempted for the program. No word on when Obama’s first State of the Union will actually be held.

Despite the fact that all the big banks have paid back their bailout, many policymakers are still concerned about outlandish banker compensation. One interesting suggestion has been made by the Federal Deposit Insurance Corporation. Maybe if it deems a bank’s compensation scheme as too risky, i.e. giving employees too much earnings and not holding onto enough earnings to use as cushion for unforeseen disasters, then it could charge the bank more for its depository insurance. It will vote on the plan next week. While clever, I still think stricter leverage and capital requirements are a better way to deal with bank risk and compensation.

I read about this suggestion in an article from Breakingviews.com. It explains the rationale:

Generating the most buzz is a sensible plan to tie the amount that banks pay for deposit insurance to the risk in their compensation plans. Banks with plans that favor short-term gains would pay more than those that, for example, include multiyear clawbacks on bonuses.

That could work. But I worry that this slick plan kind of misses the real problem: actually preventing banks from running out of cash in the first place.

As I’ve said before, regulators would be better off focusing on more prudent leverage and capital requirements for banks. That way, the probability that banks would get into trouble in the first place would be lower. This would also cover investment banks, which the FDIC plan wouldn’t, since they don’t have deposit insurance.

And as I’ve also mentioned before, more conservative capital and leverage requirements would also limit compensation by their very nature. One of the reasons why investment banks are able to make so much money is because they have so much leverage. For example, if you can make $5 profit by only holding $10 of capital, that’s a 50% return. If you need to hold $20 of capital, then your return is only 25%. As a result, bank employees will be forced to make less money, since more of its revenue must go towards its capital base as its assets increase.

So I think the compensation problem will take care of itself if leverage and capital requirements are reformed. Then you don’t have to worry about any tricky regulatory measures to control how compensation is paid by charging more for deposit insurance. I favor ensuring we have more stable financial institutions that consequently can’t help but have more down-to-earth pay scales, rather than attempting to back into stability by forcing banks’ hands through dictating how they should compensate their employees.

VIZIO, America’s #1 LCD HDTV Company, announced today that it has entered into a three year, North American endorsement agreement with international pop-music icon and film star, Beyoncé Knowles – Carter.  Financial terms of the agreement were not released, but the contract does provide language that allows the parties to expand the relationship as VIZIO enters new markets around the world.

The agreement grants name and likeness rights to VIZIO for North American advertising, product packaging, web, promotions, public relations and point of sale materials.  The partnership will also allow Knowles to participate in the design and performance characteristics of new products from VIZIO’s ever-expanding line of audio, visual and web-enabled products.

“Beyoncé is in an elite class of entertainers who are globally known and respected for their talent on stage and in front of the camera,” said Laynie Newsome, Co-Founder and VP Sales & Marketing Communications of VIZIO. “We believe both VIZIO and Beyoncé are closely aligned as American success stories who have redefined the rules in our respective industries.”

VIZIO has maintained the #1 U.S. LCD ranking though the third quarter of 2009*, and had twice the Q3 shipment volume of Sony in the U.S. VIZIO now has more than 13 million U.S. households who own VIZIO HDTVs.  They have recently been named one of Advertising Age’s Hottest Brands.

“What I love about VIZIO is how committed they have been to customers and their focus on delivering tremendous performance at a great value,” said Knowles – Carter. “As a performer, I can relate to that, because my fans spend their hard-earned money to see me perform, and I give everything I can to make sure I exceed their expectations. I’m excited to be associated with such a successful company.”

Casio has set up some new digital photo frames with what’s essentially a set of automatic artsy Photoshop filters, allowing grandmas to make pictures of their grandkids look like robotic watercolors. Good lord.

Filed under: Chicago Auto Show, Sedan, Performance, BMW

BMW has stated several times that it has no plans to do an official M version of the current F01 7 Series, but that doesn’t mean it won’t offer a hotter version of its flagship sedan courtesy of Alpina.

At next month’s Chicago Auto Show, BMW will be reviving the Alpina B7, and while the sweet 4.4-liter twin turbocharged V8 remains under the hood, the dial has been turned up from the stock 400 horsepower to a full 500 hp, along with 516 pound-feet of twist. That should be enough to catapult the big sedan to 60 mph in just 4.5 seconds.

By itself, big power is useless unless spend all your time at the drag strip and the 7 Series is capable of so much more. Handling has long been a BMW hallmark and the 21-inch, 20-spoke Alpina wheels wrapped in Michelin PS2 rubber should provide plenty of grip for directional changes and positive and negative acceleration. A deeper front air dam and a rear decklid spoiler help keep the car glued to the pavement at autobahn level velocities, while inside the B7 coddles its occupants in upgraded leather and wood trim.

The B7 goes on sale this spring in both standard and long wheelbase formats, although pricing has yet to be announced. Make the jump for all the details.

[Source: BMW]

Continue reading Chicago preview: BMW brings back the Alpina B7 for 2011

Chicago preview: BMW brings back the Alpina B7 for 2011 originally appeared on Autoblog on Fri, 08 Jan 2010 16:27:00 EST. Please see our terms for use of feeds.

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Filed under: Detroit Auto Show, Government/Legal, GM

On Monday, the Tea Party is coming to Detroit and crumpets are not on the docket (*rimshot*). The traveling band of disgruntled Americans is heading over to General Motors’ Renaissance Center between 9:30 AM and noon to protest against the fed’s stake in GM and Chrysler. The protest is well-timed, with 6,000 journalists and government dignitaries a few hundred yards away at the first media day of the Detroit Auto Show.

The Detroit News reports that Tea Party organizers say the goal of the rally is to “make a peaceful yet clear statement against government takeover of America.” An online flier reportedly distributed by the anti-tax party states, “What Michigan needs is a responsible auto industry that can become profitable, self sustainable and efficient in ways that provide more private jobs and economic success.”

While the Tea Party undoubtedly picked a great day to protest against the federal government’s 61 percent stake in GM, we’re a little confused as to why organizers chose the Ren Cen instead of Cobo Hall. With all the journalists inside, attending press conferences and avoiding Michigan weather, the protesters won’t have the opportunity to get the media attention they’re after. Too bad. It could have made for some interesting people watching.

[Source: Detroit Free Press | Image: Jewel Samad/Getty]

REPORT: ‘Tea Party’ demonstrators to picket at Detroit Auto Show originally appeared on Autoblog on Fri, 08 Jan 2010 15:58:00 EST. Please see our terms for use of feeds.

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The Governor’s Office of Management and Budget of the State of Illinois today is pleased to announce the successful sale of $3.466 Billion in taxable General Obligation Bonds at a rate of 3.854% to be deposited into the Pension Contribution Fund.

Funds from these bonds will reimburse or fund the State’s required deposit to its pension systems for fiscal year 2010.  The bond principal amount will be paid in equal installments over the next five years.

“This is a very successful deal for the State of Illinois and the 3.854% rate is proof the State’s economy is strong,” said Gov. Pat Quinn.

“Investors have expressed confidence in our State and have allowed us to meet our Pension Contribution for this fiscal year.”

Close to 200 investors, including major American, European, and Asian investors purchased these bonds. Demand exceeded $8 Billion resulting in an oversubscription of $3.9 Billion-a 2 to 1 coverage.

The oversubscription allowed pricing to be improved 15 basis points over initial indications.

“The level of demand for this bond issuance reflects the markets belief in the State’s long term financial strength, said David Vaught, Director of the Governor’s Office of Management and Budget.

Eleven Banks participated in this transaction including J.P. Morgan, Goldman Sachs, and Loop Capital Markets who served as Joint Book Running Senior Managers.

Mesirow Financial served as Senior Manager.  Seven other firms completed the underwriting syndicate.  Peralta Garcia Solutions served as financial advisor to the State in connection with this financing.

“I’m very pleased with the hard work and great execution provided to the State by our bank group,” said John Sinsheimer, Director of Capital Markets for the Governor’s Office of Management and Budget.

This is the State’s first issuance of medium term notes for its pension system and is the second largest deal ever done by the State.  It is one of only a handful of deals this size ever completed by state issuers.

The General Assembly authorized these bonds during the July 2009 Session.  In excess of $800 Million from this bond sale will be used to reimburse the Common School Fund and the General Revenue Fund for monies already advanced to the pension funds.

Christina Aguilera has come a long way since her days as as aspiring pop star on The Mickey Mouse Club. Now a married mother of one, X-Tina is gearing up for her upcoming big screen debut alongside legendary diva Cher in the motion picture musical Burlesque.

The singer was so determined to make a made splash in Hollywood that she asked screenwriters to give her character more of an edge.

”[It was] kind of like my first day at school,” she tells Marie Claire in its February issue. “I didn’t want to do something that was easy for me. I’ve actually had my character rewritten to be tougher and a little more spunky.”

MagicJack is set to release a new box that will connect and route cellphone-based VoIP calls (without special software), using other cell provider’s towers (without permission, mind you), offering service inside your house for just $40 a year.

According to the AP, MagicJack feels their within the realm of legality because wireless spectrum licenses don’t extend to personal homes. The wireless MagicJack requires a broadband connection. and comes bundled with a GSM-based SIM card (which mostly means AT&T and T-MO handsets only). When the SIM is inserted, the phone will require a one time sync up, then will automatically connect to the device when its within range (3000 ft.). And while the cell towers are used to establish connections, the actual calls are VoIP-based.

Legal issues aside, I’m still not entirely sure what advantages this has over a standard MagicJack. Will it really reduce cell bills that much? Is constantly swapping SIM cards really worth it? I guess it’s a super-easy way to make VoIP calls around the house. And if you have an extra GSM phone laying around anyways, it could be easier than using a standard cordless phone. [AP]

Photo courtesy of AP/Paul Sakuma

If Phone Arena’s leaked roadmap is correct, Sprint will be launching an Android WiMax phone from HTC in 2010.

The document says that an HTC A9292 is on the way, possessing a candybar form factor. And comparing that to HTC’s convention for model numbers, means that the phone will be powered by Android. Also interesting is that Phone Arena’s tipster brought up the possibility of Sprint launching the Palm C40 (which isn’t on the list), and a Motorola WinMo phone though nobody has a clue what those could be. But Phone Arena says that Moto has no plans to launch a WinMo 6.5 phone, so it’s possible that could be running 7.0 instead. Curious.

Other than that, the rest of the products listed look like run-of-the-mill dumbphones and featurephones. Yawn. [Phone Arena via Slashgear]

It’s not a great day for economic news. First there was the grim jobs report. And now a much worse than expected drop in total outstanding consumer credit. It fell by $17.5 billion, or at an 8.5% seasonally adjusted annual rate, the Fed said Friday.

The sharp decline surprised economists, who expected about a $5 billion decline.

“This was a shockingly weak report, as it suggests that the deleveraging process taking place among U.S. households continued unabated,” Millan L. B. Mulraine of TD Securities wrote in a note to clients. “The continued decline in credit remains the most serious risk for the economic recovery.”

To be sure, consumers had to deleverage after overextending themselves but there’s still no sign of relief. With consumer spending responsible for 70% of demand in the economy, a continuing drop in Americans’ access to and affinity for credit is a bad sign for growth.

Revolving credit fell at an 18.5% annual rate as consumers shied away from their credit cards or found credit was no longer available. More than a third of banks in the Fed’s October Senior Loan Officer Survey said they were decreasing lines of credit to existing credit card customers. None of the banks said they were increasing lines of credit.

A third of banks also said demand off all types of consumer loans was weaker. Just 9.4% of banks said they’d see a stronger demand for such loans. Nonrevolving credit — loans for things like vacations, boats and vehicles — also declined at a 2.9% annual rate.

From Baxter Finley: Presented with serious wet shavers in mind, the safety razor was first introduced in the late 18th century as an alternative (and “safer”) to a cut throat blade. “DE” blades are commonly known as the blade your father or grandfather used to use – today, classic style wet shaving is making a resurgence, along with the durable goods category. Many advocates of the blade insist that they get a closer, more comfortable shave, with less irritation and shaving bumps. Shaving bumps occur with the whisker is cut too close, causing the hair to grow back in an angle, underneath the skin causing a “bump”. Users also speak to the blades cost effectiveness in comparison to pricey cartridge blades If you are not used to shaving with a safety razor, you will have a slight learning curve. The main difference you will see is the fixed shaving head … as most modern blades have a pivoting head allowing you to make “turns” – your DE blade will not pivot, so use short straight strokes or you will get shaving nicks.” We include a small instructional card along with the razor. Available at Baxter Finley.

On December 14, one man woke up to find himself infested in a world with zombies. Or at least, he’s tweeting like it is.

This man, Gus, in Miami, Florida has been tweeting relentlessly for the past month as if the world is at and end. Or as he puts it in his bio, “Zombies are everywhere and this is my diary of the apocalypse.” Among other things, he’s documented his first zombie scratch (and relief that he was still human afterwards), his scavenging for food at abandoned gas stations, and of course, plenty of zombie sightings.

To add to the tale, Gus is even taking somewhat elaborate TwitPics of his adventure. For example, here’s a picture of a dead person (covered in blood) that Gus lifted some keys from. He’s also made a video, of some zombies apparently chasing him, that you can barely see.

Overall, a solid effort, and something that should keep the zombie-crazed Internet amused until Gus’ inevitable demise at the hands of zombies.

[thanks Franco]

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A couple times a year, the FBI reaches out to let us know about their latest social media tools in the war against the world’s most notorious criminals. Today, they’ve detailed some of the latest additions to their growing arsenal.

The first is a new Video Widget that allows users to embed the Bureau’s videos in their webpages and blogs. It’s a pretty standard widget, but the content is obviously more serious than your average YouTube video — and it could actually help catch a few bad guys. After you’ve embedded it, the widget will stay updated as the FBI uploads new content.

Next is a new Facebook Quiz on the FBI’s Facebook Page, which the Bureau describes as a “a light-hearted quiz to determine what kind of FBI career best suits you: Special agent? IT professional? Intelligence analyst? Even the FBI Director?” Quizzes can be kind of lame, but they’re a great way to engage a broad audience.

Finally, the FBI has detailed some of the updates that have been made to the free FBI Most Wanted iPhone application that was developed by NIC. The app features the FBI’s most wanted list, as well as breaking news related to missing children, children, and terrorism. The latest update to the app allows you to locate the nearest FBI office using geolocation. The FBI says that the application has now been downloaded over 670,000 times.

The FBI has actually been quite active on social media before now — they’ve previously launched a Most Wanted widget, and established profiles on Facebook, YouTube, and Twitter.

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This morning’s jobs report was wildly depressing on many levels. But we did manage to find one tiny bit of good news.

Jobs in FIRE (finance, insurance, real estate) actually ticked up a little sequentially. That’s real, real jobs gained.

Below we’ve plotted the changing levels of employment for goods producing areas and FIRE, and in the sub-box, we’ve blown up the last three months. It makes it very clear that while people in the “real economy” continue to suffer, FIRE is on the mend.

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See Also:

• CHART OF THE DAY: Welcome To The Jobless Manufacturing Recovery
• CHART OF THE DAY: How The Government Payroll Replaced Goods-Producing Jobs
• CHART OF THE DAY: That Horrible Q3 GDP Report Was Even Worse Than You Thought