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AT&T and LG Electronics MobileComm U.S.A., Inc., today announced the LG eXpo will be available online beginning December 7. Featuring the first 1 GHz processor in the United States, the LG eXpo allows business professionals to meet their demanding data sharing needs while on the go. Available exclusively for AT&T customers, the handset will be compatible with AT&T’s High Speed Packet Access (HSPA) 7.2 Mbps technology, which provides a considerable speed boost to the nation’s fastest 3G network.

The LG eXpo is the first device in North America to support an optional integrated pico projector. The LG Mobile Projector snaps onto the back of the device and allows users to share presentations, slideshows and even online videos straight from their mobile phone. Weighing only 1.8 ounces and small enough to fit into the palm of your hand, the LG mobile projector provides users with powerful new technology in a compact design, featuring a projection distance as far as eight feet

"LG eXpo adds to our growing portfolio of smartphones that operate on the latest upgrade to our 3G network and offer customers a great choice," said Michael Woodward, vice president, Mobile Phone Portfolio, AT&T Mobility and Consumer Markets. "As we move to HSPA 7.2 technology, it is crucial to provide our customers innovative and future-proof smartphones." With the upgrade to HSPA 7.2 technology, AT&T continues its investments to deliver the nation’s fastest 3G network.

AT&T plans to deploy HSPA 7.2 initially in Charlotte, Chicago, Dallas, Houston, Los Angeles and Miami by the end of the year. The company plans to deploy HSPA 7.2 in 25 of the nation’s 30 largest markets by the end of 2010, and to reach about 90 percent of its existing 3G network footprint with HSPA 7.2 by the end of 2011. LG eXpo also eliminates the need for pin codes and passwords with the exclusive "Smart Sensor" fingerprint recognition from AuthenTec, which delivers a new level of added smart and personal security unlike any other mobile phone in the market. AT&T is the first to offer U.S. subscribers a smartphone that leverages the features and functions of a smart sensor. The Smart Sensor complements the touchscreen user interface of the eXpo by also providing precise cursor control for text editing, 4-way menu navigation, and AuthenTec’s unique turbo-scroll feature for rapid browsing of long emails, contact lists or websites.

The LG eXpo is loaded with Windows Mobile® 6.5 Professional to help power users stay more connected with email, calendar and Microsoft® Office Mobile. The phone’s projection feature allows users to display Web pages, documents, photos and videos on the go. "LG eXpo is the perfect balance of mobile innovation and design" said Ehtisham Rabbani, vice president of product strategy and marketing for LG Mobile Phones. "Enabling users to meet their professional and personal computing needs from the palm of their hands, LG eXpo makes on-the-go communication an effortless luxury."

Boasting a 3.2-inch external touchscreen with 16M color, LG eXpo features a sophisticated slider design with a full size QWERTY keypad. For the dynamic multi-tasker, LG eXpo provides users with powerful functionality that supports an RSS Viewer, Podcast and aGPS. In addition to a crystal clear 5.0 megapixel camera with built-in auto flash, LG eXpo can support up to a 16GB removable microSD memory card for premium music and photo storage.

Beginning December 7, LG eXpo will be available to enterprise customers and for purchase online at www.att.com/lgexpo for $199.99 after mail-in rebate. Pay $299.99 and after mail-in rebate receive a $100 AT&T Promotion Card. Two year agreement on a minimum $69.99 plan required. The LG Mobile Projector will be available in the coming weeks for $179.99.

Read more at LG here.

Craig Mast pays a visit to Camp Woodward where he got his start and ends the episode with a full-blown music video for a song he wrote about his Firsthand appearance.

Add this to your queue
Added: Mon Nov 30 20:03:05 UTC 2009
Air date: Sun Dec 06 00:00:00 UTC 2009
Duration: 22:09

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Filed under: Aftermarket, Concept Cars, Coupe, Performance, Europe, Misc. Auto Shows, Ferrari

If you thought that last remaining piece of lasagna at the food court looked iffy, remember that’s not even the most suspicious concoction to bear the Sbarro banner. Franco Sbarro rivals even his fellow Swiss coachbuilder Rinspeed for his, um… “originality.” Recent examples have included a six-wheeled Citroen crossover, a leaning quadricycle and a vintage Rolls-Royce equipped especially for bird-watching. But as bizarre and unusual as most of Franco Sbarro’s creations have been, the Swiss designer also has a long history in radically modifying Ferraris.

Based on the 308 GTB, the Super 8 made our Top 10 Mid-Engined Hatchbacks list, but that’s just the tip of the proverbial iceberg. Sbarro’s done everything from converting a 365 GT4 into a Mille Miglia spyder to giving the 550 Maranello the wide-body treatment. Among the most intriguing of his projects, though, has been the Alcador series. The first Alcador, based on the Testarossa, debuted at the 1995 Geneva salon. The second, called the Alcador GTB, came a baker’s-dozen years later at the 2008 Geneva show, borrowing its chassis and engine from the 348. Sbarro tweaked the design and came back to the Palexpo the following year with a new Alcador GTB based on the 360 Modena.

Now, a Swiss collector by the name of Lienhard has commissioned the coachbuilder to craft him another example, and the result was unveiled to the public this past weekend at the Essen tuner expo in Germany. Strangely called the Lista Office, Sbarro’s latest is underpinned once again by the 80s-era Testarossa, packing its 450hp 5-liter boxer 12. Say what you will about the styling, but one thing’s for sure: it doesn’t look anything like a 512TR. See for yourself in the image gallery below.

[Source: Sbarro and Autoblog.nl]

Flight of the Alcador: Franco Sbarro unveils Ferrari Testarossa-based Lista Office in Essen originally appeared on Autoblog on Mon, 30 Nov 2009 14:59:00 EST. Please see our terms for use of feeds.

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An old, crusty, off-strip hotel with a rich poker past is shutting down.

LasVegasNow: A spokesperson with Binion’s Gambling Hall & Hotel has confirmed that the property’s hotel rooms, Original Coffeeshop and Keno will be closing on December 14th.

A memo to all employees obtained by 8 News Now blames the economy for the move. The casino portion of Binion’s and associated restaurants will remain open.

The closings will result in the layoff of around 100 people.

The news comes the same day as the Dubai-owned monstrosity City Center is oficially opening up.

Here’s the full memo to staff.

Binions Closing

(Picture via Flickr user Eric__I_E)

Join the conversation about this story »

See Also:

• Just In Time: Dubai Opens $8.5 Billion Casino In Vegas
• Carl Icahn Is Lead Bidder For Vegas Casino
• CHART OF THE DAY: The Las Vegas Strip Is Making A Huge Comeback

While I should probably be looking for some Cyber Monday deals (other than Amazon’s Lightning Deals), I’m pretty entrenched in tonight’s Patriots/Saints game. For the seventh time this season, the Patriots will face an undefeated team, and three of those have accounted for all the Patriots’ losses. They all came down to the last possession as well. I have one prediction for tonight’s game: “Pain!” (…in the immortal words of Clubber Lang.) I don’t know who will suffer more of it, but there’s not going to be a happy ending for everyone in this game.

How big is this game? New Orleans says it’s up there with the Super Bowls that the city had hosted. Average tickets are going for as much as $2000 to $2500. For a regular season game? Are you kidding me? Patriots fans like myself are spoiled… this game probably doesn’t rank in the top 15 of the decade. When your team has won two playoff games in 42 years like the Saints have, this game gets top story on the first page of the New Orleans Times.

I can’t seem to focus on much else, so here are this week’s links:

Money Writers:

• Brip Blap gives my up close look at health care.
• Digerati Life examines Blockbuster vs Netflix: online DVD rentals for less.
• Frugal Dad posts 5 four-letter words you should be using in personal finance.
• Generation X Finance asks are you a credit card junkie? Learn how to kick the habit.
• Million Dollar Journey shares 3 principles of successful investors.
• Money Smart Life posts cleaning out the garage.
• My Dollar Plan writes plan and budget for holiday spending.
• The Sun’s Financial Diary talks frugal holiday entertaining.

Top PF Posts:

• Free Money Finance says your money habits will influence your children’s money habits.
• Mighty Bargain Hunter asks what money smells do you need to work on?
• PT Money shares ten financial moves to consider before 2009 ends.
• Consumerism Commentary posts 6 items that exemplify conspicuous spending.
• Dough Roller says successful personal finance does not require perfection.
• Wisebread offers 5 easy ways to save some green this holiday season.
• Rich Credit Debt Loan asks is it safe to borrow from a 401(k)?
• Harvesting Dollars blogs about the top 4 things everyone should know about their finances.
• Saving Advice explains that American culture is why people don’t save money.
• The Smarter Wallet writes managing our family finances during a jobless recovery.

Related posts:

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2. Personal Finance Links (and on being NFL perfect) Hall of Fame receiver Michael Irvin said a week ago…
3. Personal Finance Links (Christmas Gifts Edition) I thought I’d recount some of the Christmas gifts I…
4. Verizon is Evil (and some personal finance links) I think my new favorite past times is calling a…
5. Personal Finance Links (Football is Back Edition) It feels good to have the NFL back in gear….

Oil is up more than 1.4%, as Iran is at the center of a potential global landmine.

AP: Britain’s Foreign Office says that a racing yacht carrying five U.K. nationals has been stopped by Iranian naval vessels, and they are now in Iran. Government officials said Monday that the yacht may have strayed inadvertently into Iranian waters when it was stopped last Wednesday.

The Foreign Office added that all the crew members aboard the yacht are “safe and well,” according to Fox News.

Something similar happened in March 2007 when 15 British sailors were seized by Iran and held captive for nearly two weeks.

Zero Hedge has this chart showing what happened to oil prices:

Join the conversation about this story »

See Also:

• Iran: We Made $5 Billion Shorting The US Dollar
• Iran Accused Of Secret Nuclear Facility
• The Geopolitics Of The Dubai Debt Crisis: It’s Iran vs. The United States

Product DescriptionFrom classic breads, cakes, and desserts to imaginative new creations, the recipes in this book eliminate the dairy and eggs without reducing the flavor. These homemade delights have been taste-tested to tantalizing perfection. Each bite proves that vegan-baked goods can be just as delectable as their animal-product counterparts. Whether one is motivated to do something positive for the earth, to show compassion for animals, or to be good for one’s health, these qui. . . More >>
The 100 Best Vegan Baking Recipes: Amazing Cookies, Cakes, Muffins, Pies, Brownies and Breads

The 100 Best Vegan Baking Recipes: Amazing Cookies, Cakes, Muffins, Pies, Brownies and Breads is a post from the Vegetarian Vitamins Guide blog where you can find suggestions and advice from vegetarians and vegans on vegetarian diets, supplements, vitamins and overall nutrition.

Related Vegetarian Vitamins Posts:

1. Anybody got any recipes for vegan cakes or biscuits? Usually I just use recipes out of books and substitute…
2. Anybody got any recipes for vegan cakes or biscuits? Usually I just use recipes out of books and substitute…
3. In A Vegan Diet, What Do You Use For A Substitute For Eggs In Cooking/baking? Um, egg beaters are basically egg whites and they are…
4. The Joy of Vegan Baking: The Compassionate Cooks’ Traditional Treats and Sinful Sweets Product DescriptionWhether you want to bake dairy- and egg-free…
5. Vegan Lunch Box: 130 Amazing, Animal-Free Lunches Kids and Grown-Ups Will Love! Product DescriptionIf you think vegan lunchtime means peanut butter…

The economy still isn’t doing so great, and that impacts everyone — even lawyers. So what are they to do in weak times? Eric Goldman points out that in the past, they’d become bankruptcy lawyers, but this time around, it looks like some are realizing a more lucrative strategy is to get involved in patent trolling — though they prefer to call it “IP monetization.” This is, of course, just a continuation of the whole ridiculous focus on squeezing cash from unused or ignored patents, following the publication of the book Rembrandts in the Attic, which kicked off this effort.

From an economic standpoint, this activity is a pure dead weight loss on economic activity. There is nothing good that comes from it. You basically have companies that have ignored a patent they got for whatever reason, suddenly rediscovering it and using it to go after totally unrelated companies who actually innovated and brought products to market (almost always with no knowledge whatsoever of the questionable patent in the first place). And suddenly the actual innovators have to pay up to a company that did absolutely nothing with the invention.

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Alice Schroeder, Author, The Snowball: Warren Buffett and the Business of Life (3 min)

• The future for Berkshire Hathaway
• The Oracle will not step down and retire.  He is 79, however, and he freely admits he’s not going to live forever.
• His successor has been chosen.
• Unfortunately, Berkshire Hathaway sans Warren will probably be like Paul McCartney & Wings

Produced By: Kamelia Angelova & William Wei

More Alice Schroeder:
– Warren Buffett’s Secrets To Success
– How Warren Buffett Really Makes His Investment Decisions
– ºThe Truth About Warren Buffett: He’s “Almost Like A Kid”

More Video: TBI Calendar Click HERE >

Join the conversation about this story »

See Also:

• The Truth About Warren Buffett: He’s "Almost Like A Kid"
• How Warren Buffett Really Makes His Investment Decisions
• Warren Buffett’s Secrets To Success

Filed under: Etc.

Cambodia is known for a few things – such as the amazing ancient ruins in Angkor Wat and an over-abundance of scooters and three-wheeled Tuk Tuks – but a real-life automobile industry is most definitely not one of them. Not yet, at least. While current transportation choices are mostly imported from Vietnam and Thailand, there’s apparently a growing desire in Cambodia for a homegrown automobile.

In fact, a number of individual Cambodians have taken it upon themselves to jump start the nascent auto industry by creating their very own DIY cars… even ones that supposedly respond to telepathic commands. According to Nhean Phaloek, a 51-year-old Cambodian who just built his Angkor 333-2010 (at right), “I just snap my fingers and the car’s door will open. Or I just think of opening the car’s door, and the door opens immediately.”

While we’re not quite ready to buy the thought-control bit, building your very own two-seat convertible for $5,000 that can hit speeds of about 62 miles per hour is itself an accomplishment to be proud of. Thanks for the tip, Adrián!

[Source: AFP via Yahoo]

Cambodian reportedly develops ‘telepathic’ new car originally appeared on Autoblog on Mon, 30 Nov 2009 14:28:00 EST. Please see our terms for use of feeds.

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Felix Salmon noted this weekend that the US dollar didn’t see much of a bounce from the latest turmoil, which is, perhaps, an ominous canary in the coalmine.

In a new note, Morgan Stanley is observing the same thing:

Is this the best the USD can do in the face of risk retrenchment?  While the USD responded very strongly to signs of financial market frictions and deleveraging among market participants in major economies during the summer of 2008 through March 2009, the USD has not seen a uniform
trend following the news of a possible default by Dubai World, and rising concerns about sovereign risk more broadly. 

Over the past week, the USD is stronger against some higher- yielding currencies such as AUD and NZD, but it is weaker against JPY and EUR. The mixed performance of the USD
suggests that while investors may have scaled back risk somewhat following the recent developments, there is not yet a strong global safe-haven demand for US Treasuries; which is what usually propels the USD higher during periods of global risk aversion.  Investors seem to be interpreting recent
events as discrete and idiosyncratic in nature, a view that we share.  As a result, we do not anticipate a broad-based USD rally in the wake of this hiccup in risk appetite.  Instead, it is notable that JPY, CHF and even EUR, are benefitting relatively more than the USD.

Morgan appears to be hedging its bets a little bit. Is the lack of USD appreciation the result of the fact that it’s fading as the safe-haven of choice, or the fact that Dubai is no big deal.

Given the relative calm in the market over the past several days, it would seem to be the latter.

Join the conversation about this story »

See Also:

• Does Islamic Banking Law Prohibit A Bailout Of Dubai World?
• Dubai Newpaper: Everything Is A-OK!
• Saut: Ignore The Dollar, This Is Not The Market Top

How was everyone’s Thanksgiving? We had a slight mishap with our turkey – it sort of cooked way too long and dried out – but I discovered that turkey breast meat steamed in a covered container with a little water in the microwave tastes just fine covered with turkey gravy 🙂   Even after having leftovers for lunch on Friday and turkey sandwiches for lunch yesterday, we STILL have a container full of mostly breast meat in the fridge, so dinner tonight is definitely being made with turkey!

Monday – Turkey Divan Casserole, tossed salad, crescent rolls

Tuesday – Sloppy Joes, corn, sliced apples

Wednesday – Slow Cooker Pork Loin Roast with Gravy (pork loin’s on sale at Meijer, and I have most of these ingredients already!), carrots, potatoes

Thursday – Spaghetti, Garlic bread, corn

Friday – Pizza Night

Saturday – Leftovers

Sunday – not planned yet

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COOKBOOK GIVEAWAY!

After the New Orleans neighborhoods David Guas grew up in were nearly erased by Hurricane Katrina, he knew he needed to record and preserve not only the desserts of his family and region, but his memories as well especially for his two young sons. DamGoodSweet: Desserts to Satisfy Your Sweet Tooth, New Orleans Style is part dessert cookbook, part travelogue and really shines with amazing food photography, wonderful stories of New Orleans and great recipes like Buttermilk Beignets and handmade Chocolate Pralines.

David wants to celebrate his book with bloggers and foodies that have supported him the most, and so he has created “Sweet Swap”, an ON-LINE LIVE CHAT for bakers, bloggers and all types of folk to discuss recipes they love, questions or troubles they have in the kitchen or even just to say hello. “Sweet Swap” will be held every Sunday morning from 9:30am until 10:30am EST beginning on November 1st until the end of December on damgoodsweet.com. Just click on the red velvet cake and chat away.

WIN IT: David is generously offering three MomCooks readers a copy of DamGoodSweet in this giveaway! To enter, leave a comment on this post by 12:00 PM EST on Tuesday, December 8th. Open to U.S. addresses only.

BONUS ENTRIES: Earn additional entries after you leave your main entry by doing any of the following-

• Follow MomCooks on Twitter and Tweet the giveaway. Leave the link to your tweet in a comment. You can do this once per day, leave a separate comment for each.
• Subscribe to MomCooks’ feed, in a reader or by email. Tell me in your comment which way you subscribed.
• Grab my badge and post it on your site or add MomCooks to your blogroll. Leave a comment with your URL.
• Stumble the post, vote for it on digg or Kirtsy, or add it to any other social bookmarking site, and leave the URL.
• Blog about the giveaway including a link to the post and leave the URL.

Thanks for entering and good luck everybody!

disclosure: David Guas sent me a copy of his cookbook DamGoodSweet. No other compensation was received.

  

 

 

Must read  – THE “3-D” HURRICANE FORCE HEADWIND – Robert D. Arnott – on deficit, debt, demographics, and asset allocation for the years ahead – RAFI Newsletter by Research Afiliates  –      hattip Prieur du Plessis
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Must read – Options, who makes more money? Buyers or sellers?  – Do Black Swans Negate Option Premiums? – Surly Trader

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liquidity returning? – The CLO market may be making a comeback – Amazingly, the primary CLO market, which has been shut down since late 2007, may be making a comeback in 2010. The volumes will be a fraction of the peak, the capital structure will be simple, and the equity structures will be thicker, but the deals will get done … This may be the first securitization market that comes back (even as a shadow of what it used to be) without government (TALF) assistance. … – Sober Look Blog

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The Future of the Securitization Business, Part I – Daniel Harrison – Seeking Alpha

The Future of the Securitization Business, Part II – Daniel Harrison – Seeking Alpha
Part One is pessimistic
Part 2 is optimistic

 

good read – On the future of reps and warrants – The New Rules For Compliance In The Post-Crash Environment – BY LOUIS PIZANTE – Mortgage Orb

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Mortgage valuation: how much is due to Fed purchases? – Scott Grannis – … If rates are going to rise in the future (and I think they will), it will not be because the Fed stops buying MBS, it will be when the Fed and the market realize that policymakers and market participants have mistakenly assumed that inflation risk is extremely low because of the economy’s excess capacity  … – Calafia Beach Pundit

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New Home Sales Highest in a Year, Inventory Measure of New Homes Lowest Since 2006 – Mark Perry’s Carpe Diem Blog

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Citi Says Mortgage Principal Forgiveness Must Rise – As unemployment rises, more borrowers need principal forgiveness on their mortgages, not just restructured loans, Citigroup Inc.’s mortgage chief said.  The comments by Sanjiv Das, president and chief executive of Citigroup unit CitiMortgage Inc., came as Citigroup issued its latest quarterly report on its own mortgage modification efforts. – DJ Money CNN
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Many ‘underwater’ mortgage holders really aren’t, data firm says – By E. Scott Reckard – First American CoreLogic says its new methodology shows that the owners of 23% of all mortgaged homes had negative equity in the third quarter. Under the old formula, it would have been 33.8%. … First American CoreLogic said it changed its methodology to take into account two things that the firm’s previous data hadn’t reflected: how much of a loan’s principal had been paid down, and how much of a home equity line of credit was actually being used. … – LA Times

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Product Developed to Protect Borrowers Home Values – Working Equity released an interesting solution that allows homeowners to protect 100% of the value of their home even while real estate values fluctuates said a company statement. – has a link to a calculator – Reverse Mortgage Daily

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Fannie Mae cuts portfolio, delinquencies jump – Fannie Mae shrunk its gross mortgage portfolio by an annual rate of about 28 percent in October and delinquencies on loans it guarantees rose sharply in September … The conventional single-family serious delinquency rate rose 27 basis points to 4.72 percent … One year ago, these rates were sharply lower at 1.72 percent for single-family … – Reuters

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Homebuyer Tax Credits Threaten the FHA – By ROBERT C. POZEN – A few weeks ago, President Barack Obama signed legislation extending an $8,000 tax credit for first-time home buyers – The extension the president signed makes the credit available to first-time buyers, but also to people who have owned a home for at least five years. … The problem is that the FHA insures mortgages of homes below certain price levels with such a low down payment that it can be funded solely by the refundable tax credit … Owners who don’t sink their own money into a house are much more likely to default on the mortgage. .. – WSJ Opinion

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Case-Shiller Home Price Index up for 5th time, but cracks showing – Posted by Edward Harrison – … When Case-Shiller reported in September, 18 of 20 cities showed price increases.  Then, last month the number turned down slightly to 17 of 20 markets. This month the number really turned down. Only 10 of 20 markets rose in the data (for sales through September).  That is not good.  is this a one-month aberration? It’s hard to say …. – Credit Writedowns

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Fannie Mae to tighten lending standards – By Dina ElBoghdady – Banks will demand higher credit scores, lower borrower debt  – Starting Dec. 12, the automated system that Fannie Mae uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850. Previously, the cut-off was 580.  Also, for borrowers with a 20 percent down payment, no more than 45 percent of their gross monthly income can go toward paying debts. … – Washington Post
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Fannie Mae Introduces ‘First Look’ Initiative – BY: BRITTANY DUNN – … Through Fannie Mae’s First Look, only offers from owner occupants and buyers using public funds will be considered during the first 15 days a property is on the market, and offers from investors will only be considered after the first 15 days have passed. … – DS News

Cisco who has recently acquired the company behind the line of Flip Video camcorders, are now back with a brand new release for you to part with your hard earned cash this holiday season. We’re talking about a new innovation in home video sharing with the device known as FlipShare TV. Touted to be the first of its kind in the industry, FlipShare TV will offer the user’s whole Flip Video library of photos and videos right smack in the middle of the family room over the HDTV screen – all done sans pesky wires running over the ground. This means you can always share your videos instantly with other FlipShare TV owners as well, any time, anywhere. Similar to its other Flip Video products, the FlipShare TV is a snap to set up and use. You will need to connect the tiny FlipShare TV
base to the TV through the included composite cables or an HDMI cable, while the FlipShare TV USB key will be plugged into a USB port on a PC or Mac. Both USB key and console have been preconfigured to function wirelessly, giving you instant wireless viewing on the TV without having to work around a wireless home network. Couch potatoes will also love the included wireless remote that lets you navigate through the intuitive TV interface before selecting one’s favorite videos, custom movies, or photos and watch them in full HD glory. FlipShare TV was specially designed to play nice with FlipShare 5.0, a brand new software from Flip Video which offers a convenient and easy way to organize, edit, and share favorite video moments online as well as through cellphones. Not oly that, you can also view videos shared by other Flip Video users on their own TV, thanks to automatic accessibility of videos shared via Flip Channels. Interested in picking one up for your living room this Christmas? You’ll need to pony up $149.99 for the FlipShare TV then.

Buy it here – FlipShare TV

© 2007 Freakitude dot Com.

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Filed under: Earnings/Financials, Renault, Russia

Renault has found a way to appease Russian Prime Minister Vladimir Putin that didn’t involve writing a check for $850 million. The French company took a 25% stake in Russian carmaker Avtovaz, and when Avtovaz started having a hard time of it earlier this year Renault looked content to see how things turned out. Putin wasn’t: he told Carlos Ghosn to inject cash into Avtovaz, or Putin would dilute Renault’s stake with a share sale.

Things retreated from the cliff when Renault promised technology to Avtovaz, in return for which Russia would put 50 billion rubes ($1.7 billion U.S.) into the company. Renault’s technology share is valued at €240 million ($358 million U.S.). The know-how could be of greater assistance to both companies than if Renault had contributed cash: Avotvaz gets something it can build on long term, and Renault doesn’t have to throw good rubles after bad.

Avtovaz is nowhere near rescued, however. The company remains loaded with debt, making it difficult to finance its restructuring, and sales of its primary vehicle, Lada, haven’t rebounded. And to hear Putin tell it, he could be knocking on Renault’s door again soon.

[Source: Bloomberg | Photo: PIERRE VERDY/AFP/Getty Images]

REPORT: Renault and Russia come to agreement on AvtoVAZ originally appeared on Autoblog on Mon, 30 Nov 2009 13:59:00 EST. Please see our terms for use of feeds.

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Why were shoppers wrestling with each other on the floor or Wal-Mart for a cheap price on a new videogame?

Really, why do they put up with such horridness?

The answer: Americans are broke.

As a survey from the National Retail Federation revealed, more Americans than ever intended to brave the Black Friday mess, and they intended to spend far less than in recent years.

More people and more demand for bargains gets you total chaos.

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See Also:

• Amazing Footage Of Black Friday Chaos Inside Wal-Mart (WMT)

Filed under: Europe, Hatchback, Volkswagen

It can be a bit overwhelming when every magazine and their various editions pick their own Car of the Year each annum. Fortunately, the Europeans have it together. Literally.

Every year, seven of the continent’s biggest car mags – each from a different country and in a different language – get together and jointly choose the European Car of the Year. The process is exhaustive, first identifying the candidates in the summer, then whittling it down to a shortlist of nominees in the fall before selecting their one winner for the year in the winter. And with temperatures dropping everywhere on this side of the equator and the new year fast approaching, the time has come once again.

For 2010, the jurists have selected the new Volkswagen Polo as their Car of the Year. The fifth-gen VW hatch beat out some stiff competition from the Citroen C3 Picaso, Mercedes-Benz E-Class, Opel/Vauxhall Astra, Peugeot 3008, Skoda Yeti and Toyota iQ. It was a close race, the Toyota coming in a narrow second with 337 points to the Polo’s 347. The Astra took third place by a wide margin at 221 points.

It’s the first time a Volkswagen has won the award in some 17 years and only the second time Wolfsburg’s taken the prize home in the forty-five years since the jury first sat. Sister company Audi has also won the award twice (for the 1973 Audi 80 and 1983 Audi 100), and Porsche once (for the 1978 Porsche 928).

[Source: CarOfTheYear.org]

Volkswagen Polo named 2010 European Car of the Year originally appeared on Autoblog on Mon, 30 Nov 2009 13:30:00 EST. Please see our terms for use of feeds.

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This year marks the first time RideLust’s editorial staff (read: me) has possessed enough disposable income to fund live auto show coverage and it is with great excitement that I embark on my journey to the LA Auto Show. Well actually I embark tomorrow, today is mostly filled with last-minute trips to the bank for toll money (seriously, the bridge fare is a JACK) and Macy’s for a new pack of socks (I plan to be stuntin’), but I digress. I will begin my journey tomorrow with a 7:30am EST flight out of PHL and, weather permitting, I’ll touch down in the beautiful City of Audigier at 10:48am PST. I will be constantly relaying my experiences via Twitter, so if you’re interested in brief, off-color, occasionally off-topic auto show updates be sure to follow me at @SuzanneDenbow.

When I’m not dodging gang fights in the questionable area surrounding the convention center or groveling at the feet of the friends kind enough to put me up for a few days, I’ll be posting live coverage of all the new and exciting LA reveals here at RideLust. Unfortunately, Volvo does not appear to be hosting a press conference this year and both Lamborghini and Ferrari will be no-shows, so while I might be providing a barrage of updates it remains to be seen whether or not they’ll be “exciting.”