Gas costs have been increasing, and automobile purchasing habits have modified along with the costs at the pump. {However, American customers aren’t buying as several green cars such as hybrids and electric cars as they are compact and subcompact automobiles that sip the gas tank|That said, individuals are not buying more hybrids or electrics. Rather than green vehicles, people have been buying smaller compact and subcompact cars that sip daintily from the tank|Compact and subcompact carsare still much more popular than green cars, as individuals still want traditional automobiles that only sip from the tank| Subcompact and compact cars are still more po! pular than green vehicles like electrics or hybrids, as traditional automobiles that sip lightly from the tank are selling much better than greener but more expensive and less useful opportunities|Small
Sunday, May 29, 2011
Hochul (D) wins seat from GOP in special House election
Tuesday’s special House election in N.Y.’s 26th Congressional District showed Democrat Kathy Hochul taking the seat from the Republicans. Hochul’s challenger was Republican Jane Corwin. Hochul narrowly won, 47 percent to 43 percent. A third candidate, Democrat-turned Tea Party candidate Jack Davis, garnered 9 percent of the votes.
Unhappy about changes made for Medicare
The changes House Spending budget Committee Chairman Paul Ryan suggested for Medicare were addressed quite a bit by Hochul. Hochul vehemently opposed the changes. In last week’s debate with Corwin, who supports Ryan’s budget plans, Hochul said: “I will fight any plan that tries to decimate Medicare. That is something people in this district feel passionately about, and I do as well.”
A comment was given by Rep. Steve Israel of the Democratic Congressional Campaign Committee. He said: “Even in one of the most Republican districts, seniors and independent voters rejected the Republican plan to end Medicare.”
Support for Medicare changes by the House
Ryan’s Medicare redesign was approved by the House on April 15 with all Democrats four Republicans opposing. The proposed changes include federally subsidized premiums for private insurance, and would apply to individuals who are now younger than 55.
Hochul’s win something Obama likes
The Hochul win was something Obama was happy about. He made a statement Tues praising it. “Kathy has shown, through her victory and throughout her career, that she will fight for the families and companies in western New York, and I anticipate working with her when she gets to Washington.”
GOP disputes that Medicare was deciding factor
The idea that victory was depending on Medicare reform problems was debated by House Republican Leader Eric Cantor. ”This race is about the belief that it’s a three-way race,” Cantor said. He said this to reporters.
Seat vacated in sex scandal
After Republican Rep. Christ Lee’s sex scandal, Hochul now gets to take his seat. In Feb., Lee stepped down after shirtless photos of himself that he had sent to a woman on Craigslist surfaced.
Special elections continue
Two more special House elections will be held later this year to fill vacancies. California Democrat Jane Harman will be replaced by a political election in July. Dean Heller, Republican in Nevada, will be exchanged this year too. Those elections will be in Sept. The seat vacated by John Ensign will be filled by Heller in U.S. Senate.
Citations
Huffington Post
huffingtonpost.com/2011/05/24/new-york-special-election_n_866074.html
MSNBC
msnbc.msn.com/id/43161820/ns/politics-capitol_hill
Chicago Tribune
chicagotribune.com/news/nationworld/la-pn-ryan-special-election-20110525,0,3908152.story
McDonald's raises prices and stocks go down
McDonald’s is the world’s fast food leader with about nineteen percent of the market. However, challenged with the increasing costs of commodities needed, the business has declared that it plans to apply minor price increases throughout the year to be able to offset some, but not all, of this pattern.
Guesses wrong
McDonald’s guesses that food costs will rise between 4 percent and 4.5 percent in the United States and Europe this year. This is a rise from earlier estimates, which projected only 2 to 2.5 percent increases in the United States and 3.5 to 4.5 in Europe. Paper costs were also cited in the projected price increases. According to McDonald’s, food and paper costs took up 33.6 percent in the first quarter of 2011 of the company’s sales. From the same quarter a year ago, costs increased a lot. Those costs went up 32.9 percent.
Avoid price boosts
Fewer individuals will go out to eat if the costs go up too much. People are already dealing with increases in prices for housing, fuel and food. According to Steve West, “It’s very hard to pass through price increase(s) right now.” West is an analyst for the Stifel Nicolaus business.
Concern flusters investors
Stock costs dropped in the middle of the day after the company announced its plan. On the New York Stock Exchange, shares dropped 1.5 percent.
The company’s CFO Pete Bensen states the company intends to sacrifice some short term profits in favor of long term growth.
Increase by 1 percent in costs
The U.S. and Europe saw a 1 percent increase in menu items at McDonald’s. This increase started in March. More increases are prepared. They will happen throughout the year. Price increases are also planned for its stores in China.
McDonald’s still the best
McDonald’s continues to outperform its competition. Peter Jankovskis said, “The bottom line is they’re still doing a great job of growing revenue.” Jankovskis is an Oakbrook Investments officer. In the first quarter, the corporation made $6.1 billion in revenue. That is a 9 percent increase. There a huge difference shown in the European stores especially.
Articles cited
Reuters
reuters.com/article/2011/04/21/us-mcdonalds-idUSTRE73K0U820110421
MSNBC
msnbc.msn.com/id/42695011/ns/business/t/mcdonalds-warns-higher-food-inflation/
Daily Finance
dailyfinance.com/2011/05/25/higher-food-costs-will-eat-into-mcdonalds-profit-margins/
Thursday, May 26, 2011
Medical diagnostics getting a supercomputer support
The problem-solving computer Watson has surely proven itself. “Jeopardy!” competition demonstrated that Watson is able to parse natural-language questions and come up with answers that are usually, though not always, right. Healthcare questions are the newest target of the supercomputer. The problem-solving capability of Watson should, in theory, be able to provide succinct answers to healthcare diagnostic inquiries. Still in the test phases, Watson’s diagnostics programming may research every little thing from personal blogs to new research.
How Watson solves problems
Winning “Jeopardy!” was the primary goal for the International Business Machines supercomputer, Watson. The program was given a ton of information in order to develop answers to questions when asked them. In the showdown against two of the game show’s biggest stars, Watson won handily. Watson’s problem-solving ability is especially unique because it requires an understanding of natural language that can be very difficult to program into computers. There are a ton of possibilities brought forth with the “probability engine” style of problem-solving. This means more than just one answer to an issue is considered.
Watson plans to help with medical troubles
The programmers that created Watson decided that he would be better off in the healthcare field than just winning “Jeopardy!” once or twice. Now, that is going to become a reality. It has only been a few months though. Rather than the library of encyclopedias, film scripts and historical information, Watson is being fed healthcare journals and diagnostic manuals. Medical researchers have been helping get Watson ready at Columbia University. Healthcare students have been testing him with hypothetical students. Watson gives possible diagnoses and treatments after being given a list of symptoms. Watson will even consider narcotic allergies and complicating symptoms.
New information availability
One of the biggest benefits of Watson’s ability to digest all accessible information is the inclusion of newly available information. Programmers are considering adding medical blogs to Watson’s database. They’re also considering adding off-label narcotic utilizes. Diagnosing a patient will become more accurate. Doctors will have options for treatment they might never have considered. Watson’s diagnostic capability also has the benefit of not forgetting leaving out any piece of information. It will still be essential to have a doctor. A machine can’t replace a doctor’s care. Doctors have to make the final opinion on treatment for patients after considering what Watson has suggested. Doctors could consult “Watson portals” if IBM engineers can get it prepared. In the end, it will all be up to the doctor and patient though.
Articles cited
USA Today
usatoday.com/tech/news/2011-05-21-watson-medicine_n.htm
CBS News
cbsnews.com/8301-504763_162-20065277-10391704.html
Wednesday, May 25, 2011
For-profit colleges' risky place to spend unsecured loans
Private, for-profit schools aren’t all created equal, and students should be persistent about any they may be thinking about. There have been numerous clashes between for-profit schools and the authorities, and profit driven school attendees have the highest loan default rates after graduating. Scholars should do their research before going to, though many for-profit schools are perfectly fine.
The chance for Indictment for Donald Trump
CNN states the New York Lawyer General is investigating five businesses that were for-profit universities. One of the schools involved is the previous Trump University, the small for-profit university launched by Donald Trump several years back. It became the Trump Entrepreneur Initiative quickly though. This was as the Department of Education said that it could not say it was a school at that point. The New York Times reports that Corinthian Colleges, Bridgepoint Education, Lincoln Educational Services and the Career Education Corporation are the other schools involved. Charges have not yet been filed. They are all being investigated still.
Latest brouhaha between universities and states
State governments and the federal government are beginning to come down on for-profit universities, and some previous students are not thrilled. Some scholars say they were misled by the now Trump Entrepreneur Initiative which is why these Californian students are now suing Donald Trump. The investigation of Corinthian’s colleges consist of those found in many states. These states consist of Florida, Georgia, Massachusetts and California. The Boston Globe reports the Massachusetts Attorney General will investigate the Apollo group also which is known as the Kaplan Career Institute, operated by the Washington Post business, and University of Phoenix. The corporate parts of smaller private colleges are also typically not very stable. For instance, Alpine College in Spokane, Wash., recently closed its doors permanently in the middle of a term, leaving students holding the bag for thousands in personal loans and no degree to show for it.
Affording it is hard to do
One of the considerations one must make in choosing a university is cost. It costs a ton of money to go to a for-profit university. In just one year after graduating from college, 15.2 percent of scholars who went to a for-profit university defaulted on student loans in 2009. That is almost twice the 7.3 percent rate that public university scholars had, Reuters explains. Private, not-for-profit schools had a default rate of 4.3 percent. About half of total loan defaults come from for-profit college scholars as well. Students have not been prepared well enough for the job industry after going to for-profit universities, some say. This has made it impossible for scholars to meet loan obligations that they have. A new rule is being considered by the Department of Education. This would not allow schools with scholars that have a 35 percent or higher default rate to get federal loans for students.
Information from
CNN
money.cnn.com/2011/05/20/news/companies/trump_university/index.htm
New York Times
nytimes.com/2011/05/20/nyregion/trumps-for-profit-school-said-to-be-under-investigation.html?pagewanted=1&_r=1&ref=education
Reuters
reuters.com/article/2011/05/20/education-forprofit-idUSN2028820820110520
Reuters
reuters.com/article/2011/05/20/us-education-idUSTRE74J55O20110520
MSNBC
msnbc.msn.com/id/43130397″>MSNBC
Boston Globe
http://articles.boston.com/2011-05-17/business/29552871_1_college-access-success-college-students-schools”
Friday, May 20, 2011
After scandal, Dominique Strauss-Kahn can't get bail
Dominique Strauss-Kahn, the head of the IMF, has been detained on sexual assault charges. When arraigned in a New York City court, he was denied bail. Strauss-Kahn was arrested on suspicion of sexual attack and false imprisonment. He is supposedly attempted to rape a hotel worker. He is in custody at Riker’s Island.
Director of international fund accusations
The International Monetary Fund head was brought into a New York City courtroom on Monday, May 16 and arraigned on charges of sexual assault and false imprisonment, states the Guardian. This will be among the highest profile sex scandals in years to come out. Strauss-Kahn was arrested on Saturday for sexual attack and false imprisonment after he was accused of sexually assaulting a hotel maid at Sofitel, the Times Square hotel he had been staying at. He went before a judge on Monday after being arrested while boarding a plane for France, Reuters reports. The attorneys that were prosecuting said he would be a flight risk. They said that if he had gone to France, the country wouldn’t have extradited him. He was denied bail and is now being held at Riker’s Island Correctional Facility.
Operation of IMF does not stop
The LA Times reports the International Monetary Fund has continued to run even though its head is in prison. Kahn missed a meeting with several finance ministers in Europe in Brussels because he was in arraignment. This meeting discussed the possibility of a joint bailout package for the Portugal debt crisis between the European Union and International Monetary Fund. There is still a Greece debt crisis. The topic of sending more aid was to be discussed as well. The headline “the chambermaid blocks Greece!” was shown in an Athens newspaper while the austerity measures in the country that were forced already have been destructive for Strauss-Kahn. While these matters are being discussed, Strauss-Kahn is in the holding cells near the Riker’s Island Courthouse called The Tombs, according to The Guardian, awaiting his next hearing.
Fallout from scandal
Dominique Strauss-Kahn is a prominent figure in the Socialist party in his native France and had been anticipated to challenge current president Nikolas Sarkozy in the coming elections. It is possible that Francois Hollande or Marine Aubry will replace him. His job at the International Monetary Fund is up for grabs, according to the Telegraph, and there are numerous people waiting in the wings to replace him. Even though current P.M. David Cameron won’t endorse former English prime minister Gordon Brown, he really wants the job. Axel Weber as a former finance minister of Germany is a possibility for the job. Christine Lagarde is also in the running as the current France finance minister.
Information from
The Telegraph
telegraph.co.uk/finance/dominique-strauss-kahn/8517119/Christine-Lagarde-and-Axel-Weber-front-runners-for-Dominique-Strauss-Kahns-IMF-role.html
Los Angeles Times
latimesblogs.latimes.com/washington/2011/05/ron-paul-imf-dominique-strauss-kahn.html
Reuters
reuters.com/article/2011/05/16/us-strausskahn-arrest-idUSTRE74D29F20110516
Los Angeles Times
latimes.com/news/nationworld/world/la-fg-euro-talks-20110517,0,2339845.story
The Guardian
guardian.co.uk/world/2011/may/17/dominique-strauss-kahn-court-appearance
The Guardian
guardian.co.uk/world/2011/may/15/strauss-kahn-arrest-hits-french-elections
Wednesday, May 18, 2011
Three congressional bills trying to weaken the Consumer Financial Protection Bureau
In July, a new federal agency is going to launch. That CFPB has been in the planning stages for years. The CFPB, however, would be weakened by several new bills. All three bills have the intention of weakening the new agency before it even launches. All three bills will be debated in the House, however they have not become law.
How the CFPB is looking
The Consumer Financial Protection Bureau was initially created by the Dodd-Frank Act to be able to “promote fairness and transparency for mortgages, charge cards and other consumer financial products and services.” The beginning of the bureau is coming up. It is supposed to start July, 2011. Even with the deadline, there still isn’t a director. The Consumer Financial Protection Bureau may have to wait a while for one. The Security of Treasury will take this role until a director is nominated.
Which bills would affect the Consumer Financial Protection Bureau
In the U.S. House of Representatives, three separate bills to weaken the CFPB have been introduced. Rather than a Consumer Financial Protection Bureau director, there would be a five-member commission with HR 1121. This is called the Responsible Consumer Financial Protection Regulations Act of 2011. Any rules made by the CFPB could be overturned by the Department of Treasury’s Financial Stability Oversight Council with HR 1315. It is also called the Customer Financial Protection Safety and Soundness Act. Finally, HR 1667, the Bureau of Consumer Financial Protection Transfer Clarification Act, would block the agency from operation until a director has been confirmed. The Financial Services Committee has approved all three bills leaving it up to the House to debate.
Plans for the CFPB
There are several things the Consumer Financial Protection Bureau will be in charge of, even though they may change. The Consumer Financial Protection Bureau will be in charge of consumer protection. They will monitor financial products with this in mind. The CFPB would be in charge of enforcing any federal financial laws in place already. Finally, the Bureau will have a ton of information available. Customers will be able to access the information.
Citations
Treasury.gov
treasury.gov/initiatives/Pages/FSOC-index.aspx
WalletPop
walletpop.com/2011/05/12/5-things-the-consumer-financial-protection-bureau-will-do-for-yo/
House.gov
house.gov/
Saturday, May 14, 2011
Tips to stay away from rental automobile gas penalties and other fees
Today, the average cost of gasoline in the United States is $4 per gallon. However did you know it will cost more than double per gallon needed if you do not return the rental with a full tank? Do not let this and other “hidden” fees burst your spending budget. Go to the rental car counter armed with knowledge and conserve.
Paying $9.29 a gallon for rental vehicle gasoline
Dollar and Thrifty is charging $8.99 a gallon to top of the gasoline tank while Hertz is charging $9.29 a gallon on average according to a USA Today survey of 13 large U.S. airports with rental auto businesses. With low base fees, rental corporations often charge these extra fees. They can be avoided if you pay for the extra gasoline ahead of time though.
Other rental vehicle add-on fees you need to beware
1. Additional driver fees – About $10 per driver is typically charged by rental businesses.
2. Insurance – You have no need to buy additional insurance if you already are paying for it every month. This is especially true when you have comprehensive on your insurance. See if your losses can be insured by the charge card business too.
3. Early/late return fees – It can cost $10 or more every day you are late, so return the vehicle on time. Generally, rental corporations will charge for early return as well. It costs about $15.
4. Child auto seats – Make sure you bring your own car seats into your rental. Otherwise, you’ll pay about $7 per day for each child safety seat rented through the company.
5. Toll bypass – There are rental businesses that make an effort to sell even more. They want you to purchase an electronic toll road pass. If you already have one of these for your daily commute or are not worried about this choice, just say no.
6. Mileage – Watch the mileage limit. Are you going to be driving long distances? If this is the case, you should make sure you’ve an unlimited mileage rental to avoid extra fees for going over your miles.
7. Cleaning – Clean up your mess, leave the cat with family and don’t smoke as part of your rental car. It can cost a lot to have the vehicle cleaned.
More tips for finding a cheaper rental vehicle
To discover the least costly rental cars, start by searching travel sites like Travelocity.com, Expedia.com, Priceline.com and Hotwire.com for deals on rental cars. You may want to try preparing ahead. You might get good airline ticket, rental auto and hotel deals put together. You may be able to save even more with entertainment coupon books and online websites like RetailMeNot.com. Make sure you rent for what you need. Do not go any longer. As long as you do not have too much stuff, you might be okay with an economy compact which will get you there safely.
Articles cited
Bankrate.com
bankrate.com/financing/cars/rental-car-gas-costs-9-a-gallon/
MSNBC
today.msnbc.msn.com/id/23471992/ns/today-money/t/secrets-renting-car-without-overspending/
Dollar Rent-A-Car was caught red-handed
youtube.com/watch?v=ZY4A-EJAbZs