Lawyer Escrow theft Rampant in New York

Johnny Carson had a joke: "It was so cold in Burbank today . . . [How cold was it?] I saw a lawyer with his hands in his OWN pockets.

Here's a New York Times article (free registration required) about a real estate lawyer who allegedly stole $3.6 million from client's escrow accounts. Amazingly the routine practice for closings is to require a 10% down payment that lawyers put in their escrow accounts. I don't see any good purpose for this practice, and I doubt if it is very common elsewhere.



The New York Times > Real Estate > When Lawyers Steal the Escrow

What do Paris Hilton, Methamphetamines and Lexis-Nexis have in common?

Read the CNET.com story linked below.



Security Watch: Of ID theft, Paris Hilton, and methamphetamines - CNET reviews

Detroit News on GM Job Cuts: at least 6 plants to close - 20% of workforce to be laid off.

The Detroit News has comprehensive coverage of GM CEO Rick Wagoner's announcement of massive restructuring at GM. At least 6 plants will close, and 25% of the workforce is to be laid off over 3 years.

I find most interesting what wasn't said - how they're going to cut their healthcare costs - up to $5.4 Billion this year. All of the cuts that were announced will save about $2.5 Billion. At the current rate of increase for healthcare costs, that savings will be countered by increased healthcare costs in about 4-5 years.

Traditionally, when GM closes plants, it pays off workers, and many of them take early retirement. The high level of retirees supported by a smaller (in historical terms) workforce, is a big part of GM's problems. I don't see how GM is going to shrink its way out of its financial mess -- UNLESS -- it wipes away history through bankruptcy court.

At least 6 plants expected to close - 06/08/05

The Hindustan Ambassador

Now that you can't buy an original Beetle in Mexico, what's the junkiest old car that you can buy new? Perhaps it's the Hindustan Ambassador. This car will rock your world with its 36 horsepower engine. You have to go to India to get it.

:: AUTOCAR INDIA - CAR AND BIKE MAGAZINE ::

Where In The World Does GM Have Plants?


Here's an interactive map.

GM - GMability Environment: Our Plants: Plant List: World Map

GM to cut 25,000 Jobs - Close Plants - By 2008

CEO Rick Wagoner told shareholders at the annual meeting that the job cuts would generate annual savings of $2.5 Billion. My questions:

1) Is that enough? The loss in the first quarter was $1.1 Billion, by my calculation, they're still $1.9 Billion short.

2) How much capital will they have to shell out to buy out these workers? Where's the money going to come from?

3) Could ABC News have picked a worse picture of Mr. Wagoner?

ABC News: GM Plans to Cut 25,000 U.S. Jobs by 2008

Dress Steve Jobs

As I write this, Apple Computer CEO Steve Jobs is delivering his keynote address at the World Wide Developer's Conference (WWDC). It was apparently just confirmed that Apple will be shifting to Intel microprocessors, starting next year.

Okay, but that's no fun. Here's something fun: Dress Steve Jobs, a Flash game.

? The Joy of Tech! ?

You know you are ugly when . . .

You pay for the privilege of working as a nude model, they take your money, and they still don't want you. That's what "Juan" alleges in his complaint posted at ripoffreport.com



Rip Off Report:Promotional Video Promotions - Aivis Svirskis - Marck Macheras Charged me $250 for work in Nude Modeling then I never heard anything back from them Amsterdam The Netherlands

Preview - 2006 Buick Lucerne from Autoblog.com

Autoblog.com has an excellent preview of the 2006 Buick Lucerne, the replacement for the best-selling Buick LeSabre. Based on this preview, it looks like Buick will hold onto its most loyal customers. Whether it can win new (and younger) customers may depend upon pricing and intangibles.



2006 Buick Lucerne: Autoblog First Look - Autoblog - www.autoblog.com _

Is there an Aromatic Membrane in your future? Fuel Cell Car Update 2005 - Hond FCX

This year's Honda fuel cell vehicle, the FCX, drives like an ordinary car according to Jim Motavalli of the New York Times. While range remains limited, at about 190 miles, this year's fuel cells are half the size of the previous models and produce twice the power. The subcompact FCX weighs 3700 lbs, goes 0-60 in about 11 seconds (slow but not extrodinarily slow), and costs over a million dollars.

Honda's #1 bragging point: an aromatic electrolyte membrane allows the FCX to operate at temperatures down to four degrees below zero. Cold weather performance has always been a problem for fuel cells. That's why I never understood why they are used in NASA spacecraft, since the temperature in space is close to absolute zero.


Honda FCX: What a Gas! A Week in Suburbia With a Hydrogen Honda - New York Times