Nigerian Puppy Scam
The Detroit News reports that the latest advance fee scam coming out of Nigeria involves puppies.
Tuesday, May 29, 2007
Monday, May 21, 2007
How Bodacious! Tata Rumored to take over Visteon
A Reuter's story cited by autonews.com says that Tata may be planning to buy a share of Visteon, an automotive component company that was formally part of Ford. The price: $1.2-2.0 billion. It's not clear how Tata would benefit from financially-troubled Visteon unless Tata plans to "lift and shift" the parts-making equipment to India.
A Reuter's story cited by autonews.com says that Tata may be planning to buy a share of Visteon, an automotive component company that was formally part of Ford. The price: $1.2-2.0 billion. It's not clear how Tata would benefit from financially-troubled Visteon unless Tata plans to "lift and shift" the parts-making equipment to India.
Wednesday, May 16, 2007
Fuel Cell News #1:
GM Fuel Cell Vehicle Passes 300 Mile Test
GM's Sequel, a hydrogen fuel-cell powered SUV, passed a key test, travelling 300 miles over public roads without refueling. This real world range test demonstrates that only cost stands in the way of producing a practical car that does not produce carbon emissions. Well, cost and hydrogen infrastructure. Nevertheless, advances in fuel cell technology have rendered performance gains similar to the "Moore's Law" techonology curve followed by the semiconducter industry. Under Moore's law, performance doubles every 18 months. Fuel cell progress may not be quite that good, but GM engineers have report that they have improved the efficiency of the Sequel by 30% since last September. The Sequel is a 5300 lb. SUV, but it recorded the equivalent of 43 mpg on the 300 mile test.
The sequel to the Sequel will be the low-slung Volt which sports a fuel-cell stack that is half the size of the Sequel's. The Volt also has a 300 mile range on fuel-cell power, but it also relies on lithium ion batteries for a 20 mile electric-only range.
In my opinion, the progress shown by GM on fuel cell vehicles is encouraging. Honda has made similar progress. What is disappointing is the level of support shown by the United States government. The government should be funding service-test fleets for government agencies and the United States Postal Service. It would not be hard to establish hydrogen fueling facilities in larger government installations, and postal hubs also could house the required infrastructure.
Source: Detroit News
GM Fuel Cell Vehicle Passes 300 Mile Test
GM's Sequel, a hydrogen fuel-cell powered SUV, passed a key test, travelling 300 miles over public roads without refueling. This real world range test demonstrates that only cost stands in the way of producing a practical car that does not produce carbon emissions. Well, cost and hydrogen infrastructure. Nevertheless, advances in fuel cell technology have rendered performance gains similar to the "Moore's Law" techonology curve followed by the semiconducter industry. Under Moore's law, performance doubles every 18 months. Fuel cell progress may not be quite that good, but GM engineers have report that they have improved the efficiency of the Sequel by 30% since last September. The Sequel is a 5300 lb. SUV, but it recorded the equivalent of 43 mpg on the 300 mile test.
The sequel to the Sequel will be the low-slung Volt which sports a fuel-cell stack that is half the size of the Sequel's. The Volt also has a 300 mile range on fuel-cell power, but it also relies on lithium ion batteries for a 20 mile electric-only range.
In my opinion, the progress shown by GM on fuel cell vehicles is encouraging. Honda has made similar progress. What is disappointing is the level of support shown by the United States government. The government should be funding service-test fleets for government agencies and the United States Postal Service. It would not be hard to establish hydrogen fueling facilities in larger government installations, and postal hubs also could house the required infrastructure.
Source: Detroit News
Tuesday, May 15, 2007
Prom Babies: New Trend, or Urban Legend?
If you do a Google search on the neologisms (new words) "prom baby" or "prom babies", you'll come up with almost 50,000 hits as of today. What's a prom baby? A good starting point would be to review a recent Dear Abby column wherein a writer suggested that he/shehad witnessed a new trend of female high school seniors intentionally getting pregnant on prom night to avoid the pressures of college.
Despite thousands of web pages discussing the term, the editors at Wikipedia apparently determined that the phenomenon of prom babies, if real, was not widespread enough to warrant an entry in the Wikipedia encyclopedia. They could find no independent confirmation that this is a social trend.
http://news.yahoo.com/s/ucda/20070507/lf_ucda/girlsavoidcollegepressurebyhavingprombabyinstead
http://en.wikipedia.org/wiki/Wikipedia:Articles+for+deletion/Prom_baby
If you do a Google search on the neologisms (new words) "prom baby" or "prom babies", you'll come up with almost 50,000 hits as of today. What's a prom baby? A good starting point would be to review a recent Dear Abby column wherein a writer suggested that he/shehad witnessed a new trend of female high school seniors intentionally getting pregnant on prom night to avoid the pressures of college.
Despite thousands of web pages discussing the term, the editors at Wikipedia apparently determined that the phenomenon of prom babies, if real, was not widespread enough to warrant an entry in the Wikipedia encyclopedia. They could find no independent confirmation that this is a social trend.
http://news.yahoo.com/s/ucda/20070507/lf_ucda/girlsavoidcollegepressurebyhavingprombabyinstead
http://en.wikipedia.org/wiki/Wikipedia:Articles+for+deletion/Prom_baby
Monday, May 14, 2007
Cerebus to Buy Chrysler
About 9:00 PM last night (Sunday) the news flash went out that there was a deal to buy Chrysler. It was confirmed this morning. DCX issued a press release that Cerebus was going to buy 80.1% of the Chrysler division for $7.4 billion, a price that was on the higher end of the speculated value. Contrary to early reports, including in the Wall Street Journal, DCX will be retaining pension obligations, and the deal has the blessings of the UAW. Complete coverage is available on the Detroit News website, www.detnews.com.
Chrysler workers have to feel like a mail-order Russian bride, they're heading off to a new land, and they have no way of knowing whether the new spouse will be true love, or a drunken wife-beater. Of course, it has to be encouraging that Cerebus Capital Management was named after Cerebus, the three-headed dog who guards the gates of hell.
I'll try to post a follow-up late this evening.
About 9:00 PM last night (Sunday) the news flash went out that there was a deal to buy Chrysler. It was confirmed this morning. DCX issued a press release that Cerebus was going to buy 80.1% of the Chrysler division for $7.4 billion, a price that was on the higher end of the speculated value. Contrary to early reports, including in the Wall Street Journal, DCX will be retaining pension obligations, and the deal has the blessings of the UAW. Complete coverage is available on the Detroit News website, www.detnews.com.
Chrysler workers have to feel like a mail-order Russian bride, they're heading off to a new land, and they have no way of knowing whether the new spouse will be true love, or a drunken wife-beater. Of course, it has to be encouraging that Cerebus Capital Management was named after Cerebus, the three-headed dog who guards the gates of hell.
I'll try to post a follow-up late this evening.
Friday, May 11, 2007
The Mexican Witch Craze
Apparently, I'm the last to know that an evil witch is terrorizing Monterrey, Mexico. Videos of this story have been passed around my daughter's middle school for some time now. Some people don't believe that it's a witch. To me it's easy to prove if she's a witch. WEIGH HER. If she weighs the same as a duck, then she's made out of wood, and A WITCH. Or you could build a bridge out of her.
Apparently, I'm the last to know that an evil witch is terrorizing Monterrey, Mexico. Videos of this story have been passed around my daughter's middle school for some time now. Some people don't believe that it's a witch. To me it's easy to prove if she's a witch. WEIGH HER. If she weighs the same as a duck, then she's made out of wood, and A WITCH. Or you could build a bridge out of her.
Youtube Music Video of the Day
Bush & Blair - Endless Love
Yesterday's big news was that British PM Tony Blair was resigning. What better way to remember the good old days but with a link to Tony and George's version of Endless Love.
Bush & Blair - Endless Love
Yesterday's big news was that British PM Tony Blair was resigning. What better way to remember the good old days but with a link to Tony and George's version of Endless Love.
Spy Shots - 2008 Honda Accord!
Actually, when you click on the link, you'll probably wonder why I put the exclamation mark in the heading. Although the redesigned Accord is a big deal for Honda and for the industry, if these spy shots are the final version, the design is pretty vanilla. It kind of reminds me of the Hyundai Sonata.
Actually, when you click on the link, you'll probably wonder why I put the exclamation mark in the heading. Although the redesigned Accord is a big deal for Honda and for the industry, if these spy shots are the final version, the design is pretty vanilla. It kind of reminds me of the Hyundai Sonata.
Thursday, May 10, 2007
Spotlight on General Motors' Cash Flow
Robert Farago just posted installment 122 of his GM Deathwatch series at thetruthaboutcars.com. Subtitled Burn Baby Burn, the focus is on GM's cash flow as reflected by its recent quarterly financial statement. As you may recall. GM effectively posted a break-even quarter, thanks to profits all over the world but North America, not to mention the sale of the General's stake in Suzuki. There's no question that GM is not bleeding as fast as it was last year, but it's still not a healthy company. With $24.7 billion in cash on hand, GM reported a loss of 1.7 billion, plus it had increased payables to suppliers (who are now treated as bankers) of $1 billion. Put the two together, and GM lost $2.7 in cash over the quarter.
Now is the time that GM should really be salting away the big bucks. There's a brand new line of profitable pick up trucks as well as the Envoy/Acadia/Outlook crossovers. Saturn has a product line that is top-heavy with new models -- for a change. There won't be as much new metal on the floor next year, and there will be some new competition, most notably, a new Honda Accord.
Farago gives GM two years until Chapter 11 bankruptcy at the current rate of cash burn. Is that accurate? How can you tell when the end is neigh? One sign will be massive stock-sell offs. GM officials just received permission to sell their accumulated shares. Another sign would be cancelled new models, delayed new models, or, even worse, pie in the sky announcements of models they don't have a chance at producing in the time frame announced. We're seeing some of those signs now. The rear-wheel drive platform has been delayed, and GM has made blue-sky predictions about the Chevrolet Volt electric car concept.
Make no mistake about it, if you read about the insiders selling their shares, it's a sign the rats are leaving the sinking ship, and it's time to put on your life jacket.
Robert Farago just posted installment 122 of his GM Deathwatch series at thetruthaboutcars.com. Subtitled Burn Baby Burn, the focus is on GM's cash flow as reflected by its recent quarterly financial statement. As you may recall. GM effectively posted a break-even quarter, thanks to profits all over the world but North America, not to mention the sale of the General's stake in Suzuki. There's no question that GM is not bleeding as fast as it was last year, but it's still not a healthy company. With $24.7 billion in cash on hand, GM reported a loss of 1.7 billion, plus it had increased payables to suppliers (who are now treated as bankers) of $1 billion. Put the two together, and GM lost $2.7 in cash over the quarter.
Now is the time that GM should really be salting away the big bucks. There's a brand new line of profitable pick up trucks as well as the Envoy/Acadia/Outlook crossovers. Saturn has a product line that is top-heavy with new models -- for a change. There won't be as much new metal on the floor next year, and there will be some new competition, most notably, a new Honda Accord.
Farago gives GM two years until Chapter 11 bankruptcy at the current rate of cash burn. Is that accurate? How can you tell when the end is neigh? One sign will be massive stock-sell offs. GM officials just received permission to sell their accumulated shares. Another sign would be cancelled new models, delayed new models, or, even worse, pie in the sky announcements of models they don't have a chance at producing in the time frame announced. We're seeing some of those signs now. The rear-wheel drive platform has been delayed, and GM has made blue-sky predictions about the Chevrolet Volt electric car concept.
Make no mistake about it, if you read about the insiders selling their shares, it's a sign the rats are leaving the sinking ship, and it's time to put on your life jacket.
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