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Filed under: Government/Legal, Recalls, Safety, Hatchback, Toyota

When it rains, it pours. With recalls on the books for Toyota floor mats and corrosion problems, the National Highway Traffic Safety Administration (NHTSA) is now investigating reports that Toyota’s Corolla and Matrix vehicles may have engines susceptible to stalling. Owners of the 2006 model year Corolla and Matrix vehicles with the questioned 1ZZ-FE engines have described stalling in intersections and on highways, putting drivers at a safety risk while they attempt to restart the engine. There have been no reports of crashes.

It’s important to note that about 397,000 vehicles are covered by the review, and that only 26 complaints have been lodged (that works out to about one in every 15,000 vehicles). Since it is a preliminary investigation, there’s no recall until NHTSA investigates and determines that the stalling is caused by a specific design or parts defect. Of course, they may also find the stalling issue is attributed to poor maintenance or bad gas… nobody is pointing fingers. Yet.

[Source: Reuters]

NHTSA investigating claims of stalling on 2006 Toyota Corolla, Matrix originally appeared on Autoblog on Mon, 07 Dec 2009 17:59:00 EST. Please see our terms for use of feeds.

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(Thanks to Frank Pallotta of LVG for sharing this.)   download paper here

Current Loan Modification Programs Will Not Solve Strategic Default Crisis,
According to New White Paper Released by Loan Value Group

Rumson, NJ, December 7, 2009 – With an estimated 29% of all U.S. mortgages, or 15 million homes, currently in a position of negative equity, the issue of strategic mortgage default is fast becoming one of the biggest problems faced by mortgage security investors, loan owners and servicers as well as the current administration. According to a new white paper released today by Loan Value Group LLC, however, existing solutions for the mortgage industry’s strategic default crisis can’t solve the problem because they are too cumbersome, a burden on the servicers, and ignore the consumer’s behavioral response to the problem of negative equity.

The white paper, authored by Alex Edmans, Assistant Professor of Finance at The Wharton School of the University of Pennsylvania, addresses the behavioral aspects of strategic default in terms of an approach that provides incentives for borrowers to remain current on their mortgages without the need to reduce principal through a loan modification.

Professor Edmans, who is an academic advisor to LVG as well as a behavioral economist and noted expert in incentive structures, said, “The government and loan owners are currently pursuing a number of existing solutions to default. However, they have so far proven to be ineffective for two main reasons. First, certain solutions are founded on the idea that default occurs because households have no choice due to insufficient income, and thus fail to address default that is a rational choice that depends on the homeowner’s balance sheet. Second, certain solutions face substantial practical hurdles to implementation.”

In the white paper, Professor Edmans notes that existing loan modification programs – whether initiated by the government or by the lender – are inherently ineffective:

• First, they entail a significant amount of costs, including legal and documentation fees
for the new legal contract, a re‐underwriting process, and closing costs. In addition,
they require the use of existing mortgage servicing resources, which are currently under
extreme pressure due to the crisis. This pressure is likely to increase as the crisis
intensifies.
• Second, each of the two types of modifications involves their own issues. Payment
reductions/holidays or loan restructurings to increase affordability (e.g. HAMP) do not
address the issue that, even if a homeowner is able to pay, he may choose not to do so
and walk away. Principal forgiveness triggers a full and immediate write‐down to the
value of the loan, which deters lenders from offering them. As such, the uptake of both
types of modification has been limited.
• The lack of effective, systemic results to date by lenders and servicers argues for a new
approach that aligns the interest of the borrower with the mortgage owner. First, since
default is a discretionary, rational choice made by the homeowner, an effective solution
must provide incentives for the homeowner to choose not to default, rather than
welfare to enable them to make payments. Second, since this decision to default is
driven by negative equity rather than the loan’s affordability, the solution must target
the homeowner’s balance sheet rather than income.

“If an incentive‐based solution is not adopted rapidly, strategic default will likely accelerate as house prices continue to decline,” said Professor Edmans. “In contrast, adoption of a successful incentive‐based solution to strategic default will yield substantial benefits to numerous constituencies. Most obviously, it will now be rational for the homeowner to remain in their property, preserving their credit rating and avoiding the dislocation costs caused by having to relocate after foreclosure. Mortgage lenders, investors and insurers will avoid the delinquency, foreclosure and liquidation costs associated with a default, and mortgage servicers will benefit from lower servicing costs due to reduced delinquency rates.”

At the same time, he added, the potential benefits of an incentive‐based program “extend far beyond the specific borrower and lender involved in the mortgage. The local community avoids the social costs of foreclosure, such as the homeowner’s failure to maintain property,
vandalism of property, or mass emigration from certain communities. In addition, given
contagion effects in strategic default, deterring one homeowner from defaulting may help
deter others. Finally, local governments and taxpayers benefit from property tax revenues as borrowers remain in their home, supporting social services and related jobs.”

Copies of the white paper are available at LVG Academic Papers.

About Loan Value Group LLC
Loan Value Group LLC based in Rumson, NJ, works with mortgage owners and servicers to
positively influence consumer behavior to help reduce the risk of strategic default by rewarding the responsible homeowner. Their solutions align the interests of all stakeholders, including homeowners, risk‐owners, servicers and the government through incentive‐based programs and turn‐key solutions that stabilize and preserve neighborhoods while lowering foreclosures.

FOR IMMEDIATE RELEASE
Media Contact:
Rosalia Scampoli
Marketcom PR
212‐537‐5177, Ext 7
[email protected]

On December 4, 2009, the Alabama Supreme Court reversed the case of Jason Sharp, who was sentenced to death following a trial tainted by the State’s discrimination against African Americans during jury selection.

read more

THIS SITE HAS ALL THE SCHEDULES ETC YOU NEED, ALONG WITH POWERLIFTING EVENTS SEMINARS ETC.

WWW.NATURALBODYBUILDINGEVENTS.COM

In order to keep up with China’s rising demand for  energy, the country’s biggest offshore oil explorer, Cnooc Ltd., may double its crude oil and natural gas production in the western part of the South China Sea.

Bloomberg: A number of foreign companies have shown “immense” interest in joining Cnooc’s bid to develop deepwater blocks in the region, Xie Luhong, head of the Cnooc unit, told reporters in Zhanjiang in Guangdong province Dec. 4.

…

Cnooc plans to work with foreign partners to drill the first deepwater wells in the area next year, Xie said, without naming the companies.

Continue reading here.

Join the conversation about this story »

See Also:

• Is China About To Make A Monster $7.5 BILLION Oil Acquisition In The Gulf Of Mexico? (DVN)
• China’s CNOOC In Bidding War With Exxon For Huge Ghana Oil Field

Filed under: Spy Photos, Budget, Truck, India, Tata

Now that Tata has put the World’s Cheapest Car on the market, is the Indian automaker ready to make a similar assault on the pickup truck market? Judging by a recent spy shot, it seems likely. It’s impossible to know for sure, but the truck’s three-lug wheels, single windshield wiper and dash layout indicate that this pickup might be based on the diminutive Nano.

Indian news outlets report that the pickup is codenamed Penguin and is powered by a single-cylinder diesel engine that displaces 350cc and is based on a slice of the Tata Ace and Indica engine block. That big thumper is hooked directly to the rear axle, an arrangement that will do away with the driveshaft and help lower cost. No word on if or when the Nano truck is slated for an official introduction. Hat tip to Shrawan!

[Source: Indian Autos Blog]

Project Penguin: Is Tata Motors planning a Nano-based pickup? originally appeared on Autoblog on Mon, 07 Dec 2009 17:29:00 EST. Please see our terms for use of feeds.

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<<< click

MUST SEE Chart: Multimedia Unemployment Map by County – cool site, scary chart – from American Observer.net  –       hattip Susan Kulakowski  

————

A better way to identify recessions – In an era of rampant conspiracy theories and mistrust of institutions, many have been sceptical of the National Bureau of Economic Research decision process with respect to identifying the start and end of recessions. … To address this issue, James Hamilton from UC San Diego developed an index that uses the GDP data to “measure” the probability of the economy being in recession at a particular time. … – Sober Look Blog

————

Double dip warning – Paul Krugman –  I’ve never been fully committed to the notion that we’re going to have a “double dip” — that the economy will slide back into recession. But it has been clear for a while that it’s a serious possibility, for two reasons …. The chances of a relapse into recession seem to be rising. … – NY Times

————

Chart of the Day – Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 11,000 in November — the smallest decline since the recession began at the close of 2007. … As today’s chart illustrates, the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle…. –
————

Employment Rebound – The jobless recovery has ended.  The unemployment report came in at 10% versus an estimate of 10.2%.  The major change was an increase in temp hiring in November for the holiday season – good comments – Surly Trader

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WHY THE GOOD JOBS REPORT COULD BE BAD NEWS FOR 2010 – Investors are likely to be increasingly concerned about rate increases over the coming months due to the much better than expected non-farm payrolls report.  Using the last few recessions as a reference point it is likely that equity gains could become increasingly difficult to come by as the Fed is pressured to remove their accommodative stance and other programs are wound down. – The Pragmatic Capitalist

Thomas J. Pinkowish On The State Of The Industry – BY PHIL HALL – lots of good thoughts – best quote: ” Fannie and Freddie are the federal government’s Vietnam. How can it exit those companies gracefully, without disruption, or without changing them completely? ” – MortgageOrb
————

Rep. Frank comments on FHA loan limits – … This is simply not true. In fact, there are only 77 counties where an FHA loan as large as $729,750 can be made, and less than 2% of FHA’s outstanding loan portfolio consists of loans which exceed $417,000, the previous GSE conforming loan limit. The average FHA loan made in Fiscal Year 2009 was only $185,278. … – National Mortgage Professional

————

FDIC’s Bair Weighs Mortgage Principal Cuts to Fight Foreclosure – By Alison Vekshin –  Federal Deposit Insurance Corp. Chairman Sheila Bair said she may ask lenders to cut the principal on mortgages acquired from seized banks, expanding her bid to help people keep their homes as unemployment rises.  The FDIC, which has taken over 124 failed banks this year, may seek to have lenders that sign loss-sharing agreements when acquiring the assets do more than cut interest rates or defer the loan’s principal, Bair said today in an interview at Bloomberg’s Washington office. – Bloomberg

————

U.S. mortgage rates fall to record low: Freddie Mac – Julie Haviv – … as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.  The lowest mortgage rates in decades and high affordability have helped …  Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.71 percent for the week ending December 3, down from the previous week’s 4.78 percent  – Reuters

————

Fed MBS Purchases Support Lender Selling. Bernanke Hints at Program’s Extension – by Adam Quinones – … Notice the majority of Fed purchases were in 4.5 MBS coupons last week…50%!!!! These are called “production” or “current” coupons and represent loan supply being sold in the secondary mortgage market by loan originators. … – Mortgage News Daily

————

Mark Hanson report on LA County – The following is an excerpt from The Mortgage Pages research series on 11-13-2009. – Los Angeles County – YEARS of Mid-to-High End Shadow Supply – … potential inventory and sales rate for houses valued at $500k and above there is: 
115 months potential supply based upon the number of props at the 90+ delinquency stage
71 months potential supply based upon the number of props at the foreclosure stage
62 months potential supply based upon the number of prop at the REO stage – Mark Hanson Blog
————

Germany’s Plan to Spur Lending May Revive Securitization: Sources – By DIANA GOLOBAY – A meeting this week among German government officials and bankers resolved to get commercial banks lending again. One option involves reviving securitization into a more active market through guarantees on portfolio assets, according to one of HousingWire’s sources. – HousingWire

Loans Deteriorate 3 to 1 in October: LPS – By JON PRIOR – Housingwire

————

Liar loans part 2? – Why Many Home Loan Modifications Fail – By FLOYD NORRIS – Why are so few temporary mortgage modifications turning permanent?  One reason may be the same one that a lot of bad loans were made in the first place. Borrowers can declare their income, and the banks are willing to grant temporary modifications based on those figures, without any evidence to confirm them. – NY Times

Reverse Mortgages – New Rules for Counselors – By BOB TEDESCHI – … The Federal Housing Administration, which insures reverse mortgages, last month instituted new standards … counselors are required to pass an exam … and they must take part in training every two years. Counselors will also have to follow a set of protocols to help determine whether a reverse mortgage will help a borrower … – NY Times

————

Is a Loan Modification Just Another Exotic Mortgage? – By Nick Timiraos – … But at ForeclosureRadar’s blog, Sean O’Toole raises a different, potentially more problematic issue: “Permanent” loan modifications last for only five years. He posits that reason for the low uptake of the loan modification program:  Maybe borrowers have figured out that this program is really only another exotic mortgage like one they fell prey to when they bought or refinanced the house that resulted in their current predicament. HAMP and the administration’s newly announced campaign isn’t digging borrowers out of a hole. It’s only digging them a new one, and delaying the inevitable. – WSJ Blogs

————

MGIC shares climb after regulator waives capital requirement – By Paul Gores – … The waiver … enables MGIC to continue issuing new mortgage policies even if it breaches the risk-to-capital ratios that are set by regulators to make sure mortgage insurers will be able to pay claims. … But the company, in consultation with regulators, has come up with a plan under which a newly created subsidiary, MGIC Indemnity Corp., would issue polices in states that can’t or won’t grant MGIC Investment Corp. waivers to ease capital requirements. In addition to Wisconsin, there are 16 states that have minimum capital standards. — – Milwaukee Journal Sentinel

Here we are on the 68^th anniversary of Pearl Harbor Day, with the mortgage banking business facing unprecedented new regulatory reforms, and what are the folks in the trenches saying?

“Does anyone get the feeling mortgage banking is a ghost ship, to sail the seas endlessly, with a crew of the damned? Didn’t Disney make a movie with that plot, or am I once again in front of the curve?”

“Things are going really well for us. Right now we run a best effort shop and thinking about making a slow transition into hedging. We’ve been hiring on many new brokers and new loan offers so we’re expanding and hiring like crazy!”

“Things in the lending industry continue to be challenging, but isn’t that why we’re still here? ‘Cause we LOVE our jobs: daily rate & guideline changes, irrational clients, irrational realtors, tightening industry standards, increased blood pressure, etc. etc.”

The AmTrust announcement speaks for itself: “AmTrust Bank was acquired (Friday) by New York Community Bancorp. Due to the nature of this acquisition and the steps required to effect a proper and orderly transition, it is necessary to immediately suspend all registration and rate-lock activity for a period of time in order to permit us to properly address all of the related requirements. We expect to complete this process as quickly as possible. Although we will not be accepting new registrations or rate-locks during the transition period, AmTrust Mortgage Banking will continue to process and fund all rate-locked registrations that are in-process at the time of this notice, in the normal course of business.” AmTrust was, nationwide, in the top 5 for wholesalers buying loans from brokers.

more news on Freddie Mac, Suntrust, Franklin American, Rates – Unemployment – Stock Market, and Joke of the Day …  <<< CLICK HERE

Rob Chrisman

Playdom, the number three player in the social gaming space, has hired Thomas Weisel Internet analyst Christa Quarles to be its CFO.

The obvious implication is that Playdom could be gearing up to go public.

Playdom, which closed a $43 million round earlier this fall, is reportedly set to reach $60 million revenues in 2009.

Its closest rivals are industry leader Zynga and Playfish, which EA acquired for $400 million in October.

Like those companies, Playdom makes its money selling virtual goods to addicted gamers.

The best way to understand how the business works is to see it in action, so don’t miss: How A Stupid Facebook Game Makes (Playfish Rival) Zynga Millions

Join the conversation about this story »

See Also:

• How A Stupid Facebook Game Makes Zynga Millions
• Playdom Cofounder Wants To Seed Gamemakers, Not Copycats
• Playdom Raises $43 Million At A $260 Million Valuation

After two years of often contentious negotiations, the UN climate change conference in Copenhagen opened today.


And while no one is doubting the importance of this particular conference, the hype leading up to today has had the fever of a circus side show.


The normally staid science community are billing the next 11 days as “The largest and most important climate change conference in history.” “Hopenhagen” has been quickly adopted as a nickname, still other scientists have stated this conference is “the most important the world has ever seen”.


Ok! Hang on. We may be at a point, and only history will tell us, where the line in the sand has been drawn. And we need to start to seriously look at ways to bring the reins in as it were.


But is now the time for all the hype? In the last couple of weeks we have had “climategate”, why must everything be a “gate”? But that is for another column. On November 17th 2009 the webmail sever at the University of East Anglia, was hacked and over 1000 emails, containing language, which could be interpreted to indicate scientists were trying to hide a decrease in global warming, were posted all over the web for the rest of the world to see. Presently Police in that country are conducting an investigation into the breach.


When the general public is faced with an overload of information from two opposing and equally passionate arguments, complete with apparent facts and data to support their respective positions, they will often turn to the people they trust for guidance. So who are they? Politicians? Journalists? Scientists? It is anyone’s guess.


So as we sit glued to our tv and computer screens watching every bit of news that emerges from these talks, I have one question – What do we want to come out of this conference?


It was just over a year ago we watched the “Yes we can” train roll across the United States as President Barack Obama made history. His speeches and promises where truly an inspiring sight to behold, but can he deliver?


It is great to have a vision, but if it isn’t attainable, is it only a dream?


Do we want dreams? I don’t. The time for dreams is over. Now is the time that countries must pull out a pen, a blank piece of paper, and a commitment to write the most aggressive, obtainable resolution that each country can implement.



Drafting a resolution that is not attainable is a waste of time, effort and energy, and quite frankly insulting.


To see a country one week sign on the dotted line, then subsequently spin a reason why they cannot honour said commitment is getting a little old.


Sure, we all have our wish lists, I for one have a list that Santa would have a hard time filling, but I do have one request, only one.


Whatever is contained in that final resolution, it must be politically neutral. While we certainly need buy in from the 192 ruling parties in attendance, we need an equal commitment from the opposition parties of those countries that they too will honour all agreements that come out of the conference, should they ever come into power.


Time for political games is over. It is time for everyone to take responsibility for themselves and to continue to pressure the government of the day to honour their commitments.






During the Conference:


Over the next 11 days we at Greener Ideal will look at the daily news and provide an overview of event, talks, and agreements coming out of Copenhagen.


We hope you will find them interesting and informative. As always we love to hear from our readers, drop us a line and tell us what you would like to see come out of this conference.

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related.posts:

1. Copenhagen Climate Conference: Day 3
2. Copenhagen Climate Conference: Day 10
3. The Road To Copenhagen Climate Conference

Highly accurate 3 in 1 meter for ground impedance measurements.

“Improper grounding accounts for up to 40 percent of costly power-related problems, including damage and downtime — whether it’s lightning, voltages induced between equipment cabinets, multi-grounding on the site, or poor operation of computerized electronics.” (Allen-Bradley (AB) Technical Journal)

Proper grounding is absolutely crucial for safe, uninterrupted operation of equipment, and is the most essential component of any ESD/EMI management system. Common tool and equipment problems are largely due to ground and power related issues or excessive noise (EMI) on the ground line.

Ground ProTM ground integrity meter gives equipment and facility engineers and technicians the ability to accurately and easily measure ground parameters, including connectivity, noise and parasitic voltage on ground.

This ground integrity meter is a handheld portable instrument, which is highly accurate, and measures ground impedance in compliance with ANSI 6.1 and ESDA S20.20 requirements.

Ground Pro is a three-in-one meter measuring three (3) important ground parameters:

Impedance Meter – Measures the true value in Ohms on ground regardless of ground currents and noise/EMI that is common on working tools, with alarm threshold settings.
High Frequency (EMI) Signal Meter – Measures the peak and average of the high frequency (EMI) signals present in the tool or facility ground. User defined alarm thresholds will audibly warn of high frequency (EMI) signals above preset levels.
AC Voltage Meter – Measures parasitic AC voltage on ground. If ground is miswired accidentally, as with the other features, an audible alarm indication will notify the user.
Features:
Compact, and light-weight
User friendly
Easy to read, back-lit display
Hold, Hold MAX
Reference/alarm
Measures AC impedance
Measures EMI noise
Measures AC voltage
Equipment and Facility Applications:
Semiconductor Front-End
Semiconductor Back-End
Photolithography Equipment
Flat Panel Display
Disk Drive
Industrial Robotics
Tool Clusters
Medical equipment and facilities
Military/Defense
Aerospace/Aeronautical
Marine
Where ever good ground quality is a concern

The major labels and their friends like to throw around huge numbers of “damages” when it comes to copyright infringement. But how about when they’re on the receiving end of a copyright infringement lawsuit. Up in Canada, there’s a class action lawsuit against the Canadian divisions of all of the major record labels, suggesting that the labels have infringed on the copyrights of artists to the tune of $6 billion (Updated: the original math was off, it’s actually $6 billion, not $60). As Michael Geist explains:

The claims arise from a longstanding practice of the recording industry in Canada, described in the lawsuit as “exploit now, pay later if at all.” It involves the use of works that are often included in compilation CDs (ie. the top dance tracks of 2009) or live recordings. The record labels create, press, distribute, and sell the CDs, but do not obtain the necessary copyright licences.

Instead, the names of the songs on the CDs are placed on a “pending list”, which signifies that approval and payment is pending. The pending list dates back to the late 1980s, when Canada changed its copyright law by replacing a compulsory licence with the need for specific authorization for each use. It is perhaps better characterized as a copyright infringement admission list, however, since for each use of the work, the record label openly admits that it has not obtained copyright permission and not paid any royalty or fee.

Over the years, the size of the pending list has grown dramatically, now containing over 300,000 songs. From Beyonce to Bruce Springsteen, the artists waiting for payment are far from obscure, as thousands of Canadian and foreign artists have seen their copyrights used without permission and payment.

And yet, amazingly, the record labels — these “strong defenders” of the importance of copyright and paying for every use — somehow have decided that it makes no sense to pay this bill. The list itself details about $50 million in unpaid royalties that are owed, often to well known musicians who it would be quite easy for the industry to find and pay up. As for the $6 billion number? Well, the class action lawsuit that’s been filed seeks statutory damages starting at $20,000 per infringement and going up from there. Given that these same record labels have been defending those same (or, similar, in the US, at least) statutory rates for infringement, you have to wonder how they can realistically claim that those statutory rates shouldn’t apply to themselves as well.

Once again, though, we’re seeing what’s really happening. The record labels are copyright defenders only when they profit unfairly from it. When they can screw over others via ignoring copyright, they have no problem doing so.

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Filed under: Aftermarket, Coupe, Videos, Chevrolet

Many of us Autobloggers went to colleges that cultivated rabid alumni, but having seen this 2010 Chevrolet Camaro, our graduates were amateurs. In fact, we didn’t realize you could love college, or its title-winning basketball team, so much. But a CarDomain forum member called “QuMongous” loves him some University of North Carolina Tarheels, and put his car in the game to prove it. Argyle pinstripes, his school’s logo on the door, a hand-painted mascot on the rear quarters, and massive blue Dubs with UNC center caps have made this muscle car a tailgating hero. And wait until you see the back window.

Day-um. That’s all we have to say. Follow the jump to see a walkaround of the car. And to you Tarheels players, you owe this guy another championship.

[Source: Tampa Sports Car Examiner]

Continue reading VIDEO: 2010 Camaro UNC Tarheels Edition is for diehards only

VIDEO: 2010 Camaro UNC Tarheels Edition is for diehards only originally appeared on Autoblog on Mon, 07 Dec 2009 16:55:00 EST. Please see our terms for use of feeds.

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I think my new favorite past times is calling a company evil. Witness my MonaVie and Ijango posts of the past. I like to think I’m relatively justified when I call out a company for being evil. The evil company of the week is… Verizon.

Why are they evil? A company called 4Info allows people to create text message alerts. If you want to know when Brett Favre throws a touchdown, you can go to the website and set that up. It’s quite a handy service. Like any intelligent company, they look to make a profit. The text message alerts are free (as long as your cell phone provider doesn’t charge), but they come with a small advertisement… usually 20 characters or so. That advertising supports the company. This weekend Verizon decided that they would stop their customers from being able to access this service.

I don’t know why Verizon decided to prevent the service. Perhaps they are jealous that 4Info is making a business using Verizon’s service. That sounds pretty weird considering how popular cell phone app stores are nowadays. App stores made the iPhone what it is and bring a lot of customers to AT&T. It’s puzzling to me that Verizon would do this at the risk of losing customers. Furthermore, they may find themselves open for a lawsuit unless they let everyone out of their contracts. If I were a Verizon customer in a contract and I was looking to get out, this would be a fantastic opportunity. After all, Verizon effective took away a service from their customers.

My friend Kosmo wrote more about Verizon trying to kill 4info. It’s a good article, I highly suggest you read it.

And onto the links:

Money Writers:

• Brip Blap talks expanding your means.
• The Digerati Life writes how Sunday paper coupons and newspaper ads save me money.
• Frugal Dad asks life after debt: is it easier on the other side?
• Generation X Finance provides cooking tips to help you keep your energy bills down this holiday season.
• Million Dollar Journey shares financial pet peeves. What are some of yours?
• Money Smart Life answers a student credit card reader question.
• My Dollar Plan illuminates on 6 mistakes of new earners and how to fix them.
• The Sun’s Financial Diary posts serving holiday food frugally.

Top PF Posts:

• Free Money Finance shares one example of living paycheck-to-paycheck. Watch out!
• The Smarter Wallet writes housing prices still down: predicting home price trends.
• Wisebread offers 6 ways to boost your income in a big way.
• All Financial Matters presents three commandments for stock investing (from Jason Zweig).
• Consumerism Commentary discusses your flexible spending account: 10 qualifying purchases.
• One Frugal Girl asks should I pay more for an oceanfront view?
• One Money Design posts how to live off one household income.
• Money Ning talks giving gifts for the holidays on a budget.
• Frugal Being Green shares gifts from years past that I still use today.
• One Frugal Life cracks the great toilet paper conspiracy!

Related posts:

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2. Personal Finance Links (Christmas Gifts Edition) I thought I’d recount some of the Christmas gifts I…
3. Addicted to Cell Phones (and Personal Finance Links) My name is Lazy Man and I’m addicted to cell…
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FedEx blew away analyst expectations for the second quarter, as it announced guidance of $1.10 per share as opposed to the Street forecast of 65 to 95 cents.

The stock is up over 2% after hours. Below, the release:

—-

Better-Than-Expected Growth in FedEx International Priority and FedEx Ground Volumes Benefit Results

December 7–FedEx Corporation (NYSE: FDX) today announced that it expects to report earnings of $1.10 per diluted share for the second quarter ended November 30, down 30% from $1.58 per diluted share a year ago. The company’s previous guidance for the quarter was $0.65 to $0.95 per diluted share.

“FedEx will exceed previous earnings guidance in the second quarter primarily due to better-than-expected growth in FedEx International Priority and FedEx Ground volumes, coupled with the benefits of our continuing cost control programs,” said Alan B. Graf Jr., FedEx Corp. executive vice president and chief financial officer. “Year-over-year growth in our U.S. overnight express and FedEx International Priority services increased each month during the quarter, aided by inventory restocking and our successful sales efforts. Demand for our international services has improved significantly since the first quarter, particularly in Asia and Latin America.”

FedEx will release the details of its second quarter earnings and update its earnings outlook on December 17, 2009.

Corporate Overview

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $34 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 275,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com .

Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, legal challenges or changes related to FedEx Ground’s owner-operators, new U.S. domestic or international government regulation, the impact from any terrorist activities or international conflicts, our ability to effectively operate, integrate and leverage acquired businesses, changes in fuel prices and currency exchange rates, our ability to match capacity to shifting volume levels and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and filings with the SEC.

Join the conversation about this story »

See Also:

• FedEx Inflation: Raising Rates To Protect Margins (FDX)
• No Green Shoots From FedEx (FDX)
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Filed under: Budget, GM, Opel, Electric

General Motors has declared that Opel needs a minicar, a tiny little thing that can compete with runabouts like the Ford Ka and Peugeot 107. That’s a fine sentiment here at the starting line, but to get to the finish GM will need to keep Opel running smoothly, get its Spark firing quickly (if indeed it aims to use that as an Opel), and lure some eyeballs away from the two dozen minicars currently in the segment and the ones on the way from the likes of Volkswagen and Toyota.

Opel showed off the Trixx Concept (pictured) five years ago, but it was left out back to die in favor of the Spark. Five years on, the Spark hasn’t arrived, meanwhile the Ford Ka has solidified its position with 500,000 sales in the UK alone over the last 13 years, the equally cheap and cuter-than-kittens Fiat 500 is still winning awards and stealing hearts and the VW Up! is banging drums.

When Magna was going to purchase Opel it said it would have a minicar for the brand by 2012. GM gave no timeline for its arrival, but did say that it was also looking at battery-powered electric cars — possibly an electric Spark with the help of Reva? Whatever it is — as long as it’s good — it can’t come too soon.

[Source: Automotive News – Sub. Req.]

REPORT: Minicar, EV on the way from Opel originally appeared on Autoblog on Mon, 07 Dec 2009 16:32:00 EST. Please see our terms for use of feeds.

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