Saturday, June 30, 2012

GOP plots 2013 strategy on health care repeal

WASHINGTON (AP) ? Turned away at the Supreme Court, congressional Republicans sketched a strategy Friday to repeal the nation's health care law in 2013 that requires a sweeping election victory carrying Mitt Romney to the presidency and the party at least to narrow control of the Senate.

Romney sought to turn the court's decision upholding the two-year-old law into a campaign battle cry, saying the 5-4 ruling had injected "greater urgency" into his challenge to President Barack Obama. "I think many people assumed that the Supreme Court would do the work that was necessary in repealing Obamacare," he said, adding that the justices "did not get that job done."

Several Republicans seized on a portion of Chief Justice John Roberts' majority opinion that said the centerpiece of the law, a requirement to purchase insurance, was constitutional because it is based on Congress' power to impose a tax. "Those who will end up paying the heaviest burden for not buying government-mandated insurance won't be the wealthiest Americans, but the very middle class families the president claims to defend," said Senate Republican leader Mitch McConnell of Kentucky.

The White House said that was an argument it was happy to have. Presidential press secretary Jay Carney said Obama has signed legislation cutting middle class taxes repeatedly, that Republicans want to extend existing income tax cuts for the wealthy and then add "another $5 trillion...that would disproportionately benefit" the same group.

At the same time, the administration announced the latest in a series to steps to implement a law that already has curbed insurance company abuses and cut costs for seniors with high prescription drug costs. Officials said another round of financing was available for states to set up health insurance exchanges, the one-stop markets for consumers scheduled to open in 2014.

Polls find Obama and Romney in a close race four months before the election, with the economy the nation's overriding issue. The battle for control of the Senate is also uncertain, and one day after the court's ruling, the principal fallout was political.

Romney, Obama and congressional candidates in both parties raised campaign money from the ruling, in which Roberts unexpectedly joined four more liberal justices to uphold the law's core component ? a requirement that nearly all Americans purchase health insurance beginning in 2014.

The Republican-controlled House is planning to vote in a little more than a week to repeal the law. But that is a symbolic vote, designed to show faith with opponents of what the GOP scornfully calls "Obamacare." Party officials also hope to force some Democrats into a difficult vote on legislation that has never been popular with the public. The repeal measure is doomed in the Senate, where Democrats hold a majority.

Recognizing as much, Republicans were turning their attention to 2013 as their next realistic opportunity to erase legislation that they say gives government control of health at the same time it raises taxes, cuts Medicare and swells deficits.

"One thing is clear: we need the majority in the Senate," Senate Republican Leader Mitch McConnell of Kentucky wrote in a fundraising email to supporters. "Every path to repeal depends on it."

A 60-vote majority is normally required to overcome adamant opposition to legislation in the Senate, but under limited circumstances, a mere majority can suffice. Democrats took advantage of that when they pushed the health care law to passage in 2010 when they controlled 59 seats. Sen. Jon Kyl, R-Ariz., told reporters, "I think with a ... majority in the Senate, Republicans could do the same things."

The GOP currently has 47 seats in the 100-member Senate, and needs to gain three for effective control if Romney wins the presidential election. Any repeal scenario also assumes the Republicans maintain their House majority in the fall.

A little more than 24 hours after the ruling, Obama, Romney and congressional leaders quickly adjusted.

One effect of the decision was to make Romney's election essential for tea party-aligned voters who fought his nomination in winter and spring but now need him in the White House if there is to be any real hope of repeal.

In a fundraising pitch, the Tea Party Patriots addressed both Romney and House Speaker John Boehner, R-Ohio., asserting "the American people are putting you on notice. We will not rest until this law is overturned."

The court's decision also injected the health care issue into congressional races.

Crossroads GPS, an independent group aligned with Republicans, introduced an ad in North Dakota noting that Democratic senatorial candidate Heidi Heitkamp "endorsed Obamacare." The commercial says the law raises taxes, cuts Medicare and gives federal bureaucrats "the power to restrict seniors' care." It encourages viewers to lobby her to swing behind the repeal effort.

Heitkamp's opponent, Republican Rep. Rick Berg, favors repealing the legislation. A spokesman said he supports "the concepts" behind provisions to guarantee coverage for pre-existing conditions, reduce prescription drug expenses for seniors and raise federal payments in North Dakota and other rural states for doctors and other Medicare health care providers, "but not as part of a $1.7 billion government takeover."

The spokesman, Chris Pack, said he didn't have any information on how those features could be left in place between the time the current law was repealed and a new one was enacted.

It's a question Democrats raised repeatedly in recent days as they tried to position themselves politically for an anticipated defeat at the Supreme Court that didn't come.

Republican candidates ran on a slogan of "'repeal and replace" in 2010, when they won control of the House and gained seats in the Senate. But they have yet to outline details for replacement legislation, and even before the court's ruling, GOP officials said they had no plans to do so until after the election or perhaps 2013. Nor has Romney detailed what he would like to see included in a substitute law.

___

Associated Press writers Donna Cassata and Ricardo Alonso-Zaldivar contributed to this story

Source: http://news.yahoo.com/gop-plots-2013-strategy-health-care-repeal-202641732.html

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Yakubu leaves Rovers for China

Friday 29th June 2012 11:49

Yakubu: Heading for China

Yakubu: Heading for China

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Yakubu Aiyegbeni has agreed a switch to Chinese outfit Guangzhou Fuli, bringing to an end his time with Blackburn Rovers.

The 29-year-old striker becomes the latest high-profile figure to head for the Far East, following Didier Drogba and Nicolas Anelka's arrival at Shanghai Shenhua.

Yakubu is looking forward to experiencing a different culture and footballing way of life after nine years in England with Portsmouth, Middlesbrough, Everton, Leicester City (loan) and Blackburn.

"There were many clubs interested according to the media, but the only people who made direct contact have been Guangzhou R&F," he said.

"Many will ask why China? The truth is there is not much to prove after scoring almost a century of goals in the (Premier) league - considered as one of the best in the world.

"I thank Blackburn Rovers, the fans, fellow players for making my one season there seem like a decade.

"I appreciate their support and I hope the club will come back again into the top-flight as soon as possible."

Yakubu had been looking to leave Blackburn following their relegation out of the Premier League last season and insists money played no part in his decision to head for China.

"Money cannot buy you happiness and what I have found from the people in China is love, happiness, sincerity and warmth and I can't wait to get started here," he said.

"They are starting an unbelievable football programme here and it's nice to be a part of it."

Source: http://www.teamtalk.com/championship/7851388/Yakubu-leaves-Rovers-for-China

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Friday, June 29, 2012

Phantasy World Online

Phantasy World Online

What happens when a game controls itself? Will the players fight to keep things right or fall under the power of the tyrant that controls it?

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This topic is an Out Of Character part of the roleplay, ?Phantasy World Online?. Anything posted here will also show up there.

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Forum for completely Out of Character (OOC) discussion, based around whatever is happening In Character (IC). Discuss plans, storylines, and events; Recruit for your roleplaying game, or find a GM for your playergroup.

Come one and come all.. If you have any questions feel free to ask!

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Usui
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I. Love. This. However... I can't roleplay until next month. Is there anyway that I could create a character then... if this survives that long. I'm sorry to say it... It's just, roleplays die quickly around here :/

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Thursday, June 28, 2012

IP E-Games eyes casino in Cagayan free port | gambler

Listed firm enters new ?gaming? sector

By: Paolo G. Montecillo
Philippine Daily Inquirer

Listed video game publisher IP E-Games Ventures Inc. plans to invest in a different kind of ?gaming? as it moves to set up casino operations in the Cagayan Special Economic Zone and Freeport.

In a disclosure on Thursday, IP E-Games, which recently spun off the bulk of its video gaming assets to a subsidiary it co-owns with former rival Level Up!, said it would acquire 36,000 square meters of land at the planned casino complex in Cagayan.

?The casino is a state-of-the-art casino offering the full range of gambling offerings including, but not limited to, black jack, baccarat, craps, roulette and slots,? the company told the local bourse.

The company will buy the land for P70 million and will be paid through a combination of cash and shares.

The transaction was done through IP E-Games subsidiary, RAN Online Inc.

IP E-Games said it hopes to ride on the expected growth of the country?s gaming sector, which is seen becoming a major draw for tourists across the region.

?Similar to Singapore?s tourism income, which saw a steep 74-percent increase from $10 billion to $17 billion from 2007 to 2009, the Philippines expects a boost to its tourism income due to gaming and gaming-related projects,? IP E-Games said.

The firm cited companies like Enrique Razon Jr.?s Bloomberry Resorts Corp., one of the four groups allowed to put up casinos at the Philippine Amusement and Gaming Corp. (Pagcor) Entertainment City in Pasay.

Casinos, IP E-Games said, ?will be key drivers in achieving President Aquino?s vision of bringing in 10 million visitors (to the Philippines) by 2016.?

The Department of Tourism says it is on track to growing tourist arrivals this year by 18 percent to 4.6 million visitors.

?(The company) believes there will be a ?spillover? effect of tourists to other key locations in the Philippines such as the Cagayan Ecozone,? the disclosure read.

IP E-Games said it was poised to be one of Cagayan?s major investors.

The company?s shares surged 2.56 percent?outperforming the main index that fell 0.03 percent?following IP E-Games? announcement.

IP E-Games? foray outside of its core video game business was approved by shareholders in a symbolic meeting last May. The corporation has a public float of 5.3 percent, which means over 94 percent of its shares are held by its controlling owners.

The expansion into gaming is in line with the IPVG group?s restructuring program in search of more lucrative industries. Earlier, IP E-Games? affiliate IP Converge was acquired by the 8990 Group, a property firm with big investments in Visayas and Mindanao. Meanwhile, its former parent firm IPVG Corp. recently ventured into mineral refining locally and overseas.

In 2011, IP E-Games acquired several Internet cafe chains in a bid to diversify its revenue stream and complement its video game publishing operations. More than two thirds of all Filipino users still access the web through Internet cafes.

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NBA Free Agency 2012: Why L.A. Lakers Must Move on from Ramon Sessions

Free agent point guard Ramon Sessions has had his Hollywood moment.? The votes have been cast and the results are in: It's time for the Lakers to move on and find another actor to play the role.

Like a typical television series that starts out strong, then quickly fades under the pressure of bad scripts, Sessions went from being the next Norm Nixon to forgetting his lines under the glare of the playoff spotlight.

What was obvious about Sessions from the start of his run in L.A. was that he possessed the speed and passing skills the team was sorely lacking.? His first handful of games with the Lakers felt like a basketball breath of fresh air?fans had not seen a penetrating, lightning-quick PG in purple and gold since the days of Nixon and Byron Scott back in the 1980s.

In just over a month, Sessions had to learn the Lakers playbook and get acquainted with new teammates.? Going from the no-name Cleveland Cavaliers to the Kobe Bryant, Andrew Bynum, Pau Gasol Lakers was a lesson in superstar culture shock.

Sessions seemed to relish his new role. In 23 games he averaged 13 points on 48 percent shooting from the floor, including almost 50 percent from beyond the arc.? The latter was a pleasant surprise.

Sessions at first came off the bench and provided a much needed spark for the otherwise listless bench.? It all looked quite promising until the playoffs came around, at which time he became the incredible shrinking point guard.

In 12 games?and I might add these were the first 12 postseason games of his career?Sessions shot just 38 percent from the field and only 16 percent from three-point range.? His assist numbers went from 6.2 to 3.6 and his scoring average dipped to 9.7.?

Clearly, this was a severe case of playoff panic.

Should the Lakers Try and Resign Ramon Sessions?

    Should the Lakers Try and Resign Ramon Sessions?

  • Absolutely, he can help this team

  • Absolutely not?they can use that money for a better point guard

Adding to Sessions' woefully inept offensive game was an exposure and inability to defend against two of the league's top point guards in Denver's Ty Lawson and Oklahoma City's Russell Westbrook.?

In seven games, the 5'11" Lawson ran around, through, under and over the taller Sessions?lighting him for 19 points per game on 51 percent shooting.? He also handed out six dimes per contest as the Lakers were lucky to survive a series that should not have gone the distance.

Very few guards can stop Westbrook, but Sessions offered virtually no defense as the Thunder used one pick and roll after another to free up their star PG.? Westbrook averaged almost 26 points a game in the five-game rout of the Lakers, including a 37-point "blow by" performance at Staples Center in Game 4.

In his defense, Sessions was never going to be "the one." ?That was supposed to be Chris Paul, but the Lakers caught the short end of a stick when Commissioner and de facto owner of the Hornets David Stern nixed a deal that would have brought the All-Star guard to L.A.

But, then again, L.A. is a town of high expectations, especially for its Lakers.? Sessions arrived and the fans expected an immediate upgrade at the position.? Many thought he'd be the catalyst to take the team deep into the playoffs.

The fact is, Sessions is an above-average point guard with above-average basketball IQ.? With the right personnel alongside him, he may excel and help you win a title.

Had Sessions exercised his player option with the Lakers, he would be worth keeping around for another year in order to give him a training camp and a full, 82-game schedule. ??

But now he understandably wants to see if another team will offer him the security of a long-term deal.? He's smart to kick some tires.? The Lakers are OK with it all if he leaves.

Still, there are pundits who feel Sessions belongs in L.A. despite his poor performance in the playoffs.

As Kevin Ding of the Orange County Register wrote in a column yesterday:? "No doubt that Sessions wilted under the playoff microscope and needs Mike Brown to perform the defensive upgrade that the coach did on so many defense-challenged players in Cleveland, but it's more about incorporating his skills better than Sessions not being able to play ? especially now that Sessions has some experience with a winning team and taking part in the postseason."

The Lakers were smart to trade for Sessions, but not so smart to trade away their first-round draft pick to get him.? As of today, they have neither.

It's time for Lakers management to focus on bringing in a veteran point guard, such as Kyle Lowry or Aaron Brooks, who will seamlessly fit into the Lakers system; and give more minutes to that young, athletic kid at the end of the bench?Darius Morris.

In order to make any of this happen, the team will need to move a piece or two from their current roster.? I continue to feel that piece should be Andrew Bynum?he'll bring the most value and give the Lakers what they really need; a superior point guard and a reliable small forward.

Ramon Sessions is not the answer.

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Google: Android 4.1 Jelly Bean coming to Samsung Galaxy Nexus, Nexus S and Motorola Xoom mid-July

Google Android 4.1 Jellybean coming to Samsung Galaxy Nexus

As is the norm for developer summits, Google's kicking off I/O with a keynote highlighting whatever the heck it wants to. Jelly Bean is, of course, one of the big topics of discussion at today's session, and we're hearing more news come down the pipeline straight from the horse's mouth. Jelly Bean, also known as Android 4.1, should be making its way to the Samsung Galaxy Nexus, Nexus S and Motorola Xoom in mid-July as an OTA update, and the SDK will be available today as part of a developer preview.

Keep up with the latest Google news by checking out our I/O keynote liveblog!

Google: Android 4.1 Jelly Bean coming to Samsung Galaxy Nexus, Nexus S and Motorola Xoom mid-July originally appeared on Engadget on Wed, 27 Jun 2012 13:08:00 EDT. Please see our terms for use of feeds.

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Rupee slump deepens India private equity quagmire

MUMBAI (Reuters) - Global private equity funds, which poured tens of billions of dollars into India investments when the economy and currency were flying high a few years ago, may be stuck with those holdings much longer than planned as the rupee's plunge plays havoc with their exit options.

Returns on funds raised in dollars have shrunk with the currency's tumble to record lows, compounding the effects of a weak stock market and slowing growth, and threatening to further dampen private equity interest in Asia's third-largest economy.

"This has simply shaved off nearly a year's implied return," said Srinivas Chidambaram, managing director at Jacob Ballas Capital India, of the rupee's steep slide since August.

"The depreciation is clearly a matter of concern in the medium term as it impacts exit realisations and existing portfolios," he said. His company, an offshore fund backed by New York Life Insurance Co, manages $600 million in India.

The rupee is Asia's worst-performing currency over the past 12 months, shedding more than one-fifth of its value to hit a record low last Friday at 57.32 to the dollar. In November 2007, at the height of a boom in private equity investment, it marked a decade high of 39.03.

India has proven a tough market for global private equity companies once captivated by its growth potential.

Fierce competition for deals, few willing sellers, a regulatory ban on leverage and a fickle market for exits through IPOs meant many private equity firms have had to content themselves with minority stakes, often in listed companies.

KPMG figures $31.5 billion was invested in India by private equity funds during the boom period of 2006 to 2008, with less than 10 percent of that having exited as of the end of 2011.

Typically, private equity investors look to sell off their investments in roughly five years.

"There is at least one year extra time required for portfolio companies to now deliver the returns," said Subbu Subramaniam, founding partner of M Cap Fund Advisors, which has invested in consumer products maker Jyothy Laboratories Ltd and City Union Bank .

In one boom-time deal whose paper loss has been exacerbated by the drop in the currency, U.S. private equity fund Warburg Pincus , one of the most active India investors, in August 2007 paid $98.5 million for a small stake in Indian engineering firm Punj Lloyd at 275 rupees a share.

Since then, the rupee is down 27 percent and Punj Lloyd stock is down nearly 83 percent, and the stake is worth just $12 million.

CAUGHT OFF-GUARD

The rupee has been under pressure as India's economy weakens and investors worry about a widening current account deficit. Ratings agencies Fitch and Standard & Poor's, citing fiscal policy woes and risks to growth, have cut their outlook on India's credit rating, threatening its investment grade status.

The Reserve Bank of India, which has stepped into the market to sell dollars, on Monday announced a rise in foreign investment limits in government bonds and other steps to bolster the rupee, but the currency drew little support as the market had hoped for more aggressive measures.

The sharp drop in the rupee late last year, and again since March, caught companies, investors, and policymakers off-guard.

"The speed and magnitude have been significant. It adds to the risk profile of our investments," said Devinjit Singh, managing director of the India buyout fund at Washington-based private equity giant Carlyle Group , which has invested $800 million in India, according to its website.

The currency risk could dampen private equity investments in India which, including venture capital deals and stakes in listed companies, rebounded to $13.5 billion last year, up 64.3 percent from 2010, according to KPMG. The peak year for private equity investment in India was 2007, at $14.1 billion.

Last year, exits were down 38 percent from a year earlier, at $2.8 billion, the KPMG data showed.

"Most funds are not keen to exit their investments now," said Jacob Mathew, managing director of Mape Advisory Group, an Indian investment bank that handles private equity deals.

Traders and economists expect the rupee to remain weak as Europe's protracted debt crisis steers investors away from risky assets and India's economy sputters at its slowest in nine years, growing at 5.3 percent in the March quarter.

The tumble in the rupee comes on top of a slump in share prices, with the BSE Sensex sliding 25 percent last year, although it has recaptured some of those losses with a gain of about 9 percent so far this year.

And while the outlook for protracted weakness will give many investors pause, Mape Advisory Group's Mathew said it also makes Indian assets attractively cheap.

"If the rupee remains at these levels, we will see more fresh investments than exits," he said.

(Editing by Tony Munroe and Edmund Klamann)

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Wednesday, June 27, 2012

Choosing Executive Office Furniture | KUSIQUYLLUR Home ...

2116243017 9a39d7c107 m Choosing Executive Office Furniture

It can be challenging working in an office that doesn?t have the right furniture for the job. Before purchasing?executive office furniture, shoppers should be mindful of the type of work that is to be done, how much time is expected to be spent in the office and the number of people the furniture is expected to accommodate before making purchases.

The type of work that?s expected to be done in an office has an impact on the type of executive office furniture that should be purchased. If an employee needs to keep frequently used files at his desk, a desk that incorporates filing cabinets or pedestals would be useful. Should the employee spend a great deal of time on a desktop computer and needs to have a printer directly connected to his computer, there are desk configurations purposely constructed? for this scenario.

Some workers, which may include lawyers, doctors and IT professionals,? may need to keep reference materials at their desks. These users may prefer larger desks which incorporate space for book shelves, housing for computer and accessories, and another separate flat work surface for paperwork. Consider the nature of the work done at the desk carefully before investing in a desk that won?t work well for the user.

The amount of time the user is likely? to spend in the office may also impact on the style of executive office furniture that is purchased. Users that spend long periods at their desk may have special requirements.? Chairs need to be comfortable, adjustable and be capable of reclining.

Some office chairs may be fitted with massage beads or similar accessories to lessen discomfort.

Shoppers should also take into consideration the number of users that may need to use the office furniture. Should multiple employees meet in the office regularly, it may be easiest to just place a few chairs in front of the desk. However, workers might be more productive if given their own working space on which to place laptops, notepads etc during those meetings. A simple circular table with a few chairs may be enough? for a small office. Always take into consideration the expected uses of the office furniture before investing in it. Shoppers will save more money in the long run by doing so and office workers will be more productive using the executive?office furniture that fits their needs best.

?

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Tuesday, June 26, 2012

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Two feet of rain, thousands flee Debby floods

River flooding form Tropical Storm Debby on Tuesday forced up to 20,000 people out of their homes in one Florida county alone, while another area had already seen more than 26 inches of rain -- topping the official forecast calling for up to 25 inches in a few areas by the time Debby moves out Thursday.

In Pasco County on Florida's central Gulf Coast, a mandatory evacuation was ordered between the Anclote and Pithlachascotee rivers, Reuters reported. The Anclote rose from 9 feet before Debby's approach to more than 27 feet on Tuesday, flooding areas with water head-high in places.

Boats were used to reach stranded residents, and 106 homes had been damaged.

Wakulla County, meanwhile, has seen more than 26 inches of rain, weather.com said in a Twitter alert Tuesday morning. Authorities there advised people to stay in their homes due to washed out and flooded roads.

Flash flood warnings were issued for parts of northern Florida and southern Georgia as Debby moved eastward. By midday, Debby picked up speed to 6 mph and winds had dropped to 40 mph, but that didn't stop the rain.

Parts of Interstate 10 in north Florida were closed due to flooding on a 50-mile stretch between Jacksonville and Tallahassee. The Florida Highway Patrol warned motorists to use extreme caution on other parts of the highway.

Hundreds of thousands of people have been impacted, many having to leave flooded homes in Florida's Panhandle on Monday and others losing power or having property hit by twisters.

Video: TODAY tracks Debby's path

In Tampa Bay, a mother manatee was found dead in the water Tuesday off Bayshore Boulevard. Her two calves, which were still alive and later rescued, washed ashore along the flooded road.

Tropical-storm warnings remained in effect for 450 miles of coastline from the Panhandle's Mexico Beach to Englewood, south of Sarasota. Debby is expected to make landfall on Wednesday in an even weaker state but still dumping rain.

On Monday, Florida Gov. Rick Scott declared a statewide emergency as five inches of rain in the course of an hour fell on some areas.

President Barack Obama called Scott on Tuesday and the federal government stands "ready to provide additional assistance if necessary," the White House said.

St. Marks, Fla., saw 21 inches in a two-day period while other areas got around 20 inches, weather.com noted.

Parts of Live Oak, Fla., were evacuated Tuesday due to flooding, it added.

Some areas of northern Florida and southeast Georgia could see up to 15 inches of rain Tuesday through Thursday, weather.com stated.

The National Hurricane Center predicted parts of northern Florida could see 25 inches of rain by the time Debby crosses Florida and exits into the Atlantic.

Weather.com noted that 2012 broke the record for the most named storms so early in the Atlantic season. Debby makes four so far, "leapfrogging Dennis from July 5, 2005.

"In an average year, the fourth named storm would have occurred by August 23," it added. "In terms of named storm counts, we're roughly two months ahead of the pace. That said, there is no correlation between a fast start to the season and the degree of activity of the rest of the season."

Debby was also the first tropical storm of the season to enter the Gulf of Mexico.

Debby earlier left tens of thousands of people without power and forced the closure of key highways and bridges in the Tampa Bay area.

Debby has also spawned some 20 twisters, including one on Sunday that killed a woman, injured her daughter and tore through homes in central Florida's rural Highlands County.

WFLA-TV reported Heather Town died when her home was lifted off its foundation and she and her 3-year-old were thrown into nearby woods. The mother was found clutching the child, who survived.

In Starke, Fla., five dogs drowned early Monday when a swollen creek flooded an animal shelter, The Florida Times-Union reported.

Pinellas County saw flooding and at least 20 homes damaged during a tornado-like storm on Sunday.

The Associated Press and Reuters contributed to this report.

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Motley Fool Suggests Chevy Volt Lease May Be a Bargain | Hybrid ...

Published June 25, 2012

By Jeff Cobb

2013-Chevrolet-Volt-004

Is a Chevrolet Volt lease through Ally Financial ?too affordable? not to pass up?

For certain consumers, this may be the case, and one reason why GM expects to sell 20,000 units this year, offers Motley Fool writer, Chris Baines.

?Despite Fox News' protests, perhaps the Chevy Volt is not a completely overpriced hunk of metal after all,? says Baines.

How so? By a confluence of factors, the $369 starting lease price for a $40,000 Volt is only $80 per month more than an also-economical $22,095 entry level Toyota Camry.

Minimizing the fact that the Camry is a mid-size car and five-seater, the compact but spacious four-seater Volt is a way cooler ride, costs nearly twice to purchase, but its lease price is not nearly so much more, meaning leasing one is a screaming deal.

Further ? goes the napkin sketch approach to personal finance punditry ? operating costs for the Volt using only electricity assuming under 40 miles a day could mean total outlay would be cheaper for the Volt compared to a Camry that only runs on gasoline.

Of course consumers will want to take a closer look at their actual considerations, but the realities for this uniquely situated car could mean one theoretically beats the system ? or at least one could wind up feeling that way.

One unique factor for the Volt's lease is that Ally was faced with pinning a residual value on the new technology Volt ? which some have reported as too low ? but Baines suspects the residual may prove too high ? thus it helps reduce the monthly lease payment.

Not quite explicitly explained in the article is a leasing company is entitled to collect the full $7,500 federal tax credit and so the Volt?s effective base selling price is cut to $31,645.

Thinking like an investor, the investment advice writer opines that leasing further makes sense for the Volt as lease makers are hedging their bets as to where the technology ? and potentially used car value ? will go.

In one extreme example, if GM comes up with a substantially improved next-generation Volt, a leased first-gen example could see its resale value crash and burn ? not unlike any other outdated piece of consumer electronics. But if that happens, no problem, just turn it in, and let Ally absorb that loss, says Baines.

Or, goes the possibility thinker, the Volt could be a total flop and GM stops making them, in which case clean used examples could even have collector?s value. Under this scenario, one could buy the Volt at the fixed end-of-lease buyout price, and have made a wise purchase below market value.

Baines says he suspects GM too has effectively hedged its bets at taxpayer expense. Not only is it effectively capitalizing on the federal tax credit to offer a pain-free discount on its new technology, it only owns 9.9 percent of Ally, so guess who loses if the Volt does?

Right, you the taxpayer do, or rather the federal government does not to put too fine a point on it. Ally is 73.8 percent-owned by the U.S. Treasury, so as it bets on the winds of the future, less predictable risk could work either against it ? or in its favor ??and only time will tell.

Motley Fool


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Supreme Court Again Smacks Down Campaign-Finance Reformers (Atlantic Politics Channel)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, News Feeds and News via Feedzilla.

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Monday, June 25, 2012

Saudis to permit women to compete in Olympics

(AP) ? The Saudi Embassy in London says the kingdom will permit women to compete in the London Olympics ? provided they qualify.

The embassy said in a statement issued Sunday that the Kingdom of Saudi Arabia will oversee the participation of women athletes "who can qualify for the games."

An official in Saudi Arabia, who spoke on condition of anonymity on Monday, says an announcement by King Abdullah about Saudi women's first-ever participation in the Olympics was expected some days ago, but was postponed after the death of Crown Prince Nayef.

The official spoke on condition of anonymity because of the sensitivity of the issue.

So far no women have qualified, though athletes in judo and in track and field are considered possibilities.

Associated Press

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Wall Street tumbles on EU summit doubts

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Sunday, June 24, 2012

Senate OKs huge farm bill, puts House GOP on spot

Washington -- The Senate's passage Thursday of a nearly $1 trillion farm bill with bipartisan support presented House Republicans and their antideficit Tea Party faction with a huge spending bill that subsidizes large corn and other commodity farmers while spending record sums on food stamps.

The House Agriculture Committee delayed consideration of its version until after Congress returns from its recess July 11. House Majority Leader Eric Cantor, R-Va., ordered a slowdown to assess the political ramifications. The House Republican majority includes several lawmakers from rural states whose championship of farm subsidies has often trumped their claims of fiscal austerity.

The 64-35 Senate passage has House Republican leaders "worried about bringing a nearly $1 trillion bill to the floor this summer when all the talk about been about cut, cut, cut," said Steve Ellis, vice president of Taxpayers for Common Sense, a budget watchdog group, especially because the bill is 60 percent more expensive than the last farm bill in 2008.

The farm bill, renewed every five years, helps shape the American diet and sets environmental policy on 922 million acres of land, or 40 percent of the nation, including a quarter of California.

Food stamps consume about 80 percent of the Senate bill's $969 billion cost over the coming decade. Food stamp spending has doubled since 2008 as a result of the recession, with about 1 in 7 Americans receiving assistance.

State preserves funds

The bill would make crop insurance the primary means of direct farm support. Total spending on corn and other commodities would reach $142 billion at a time when farmers are riding a historic commodity boom. The bill trimmed overall spending by $23 billion, or 2.3 percent, and cut conservation programs by 10 percent.

California produce growers, after decades of being ignored in federal farm programs, flexed their newfound muscle by preserving funds won five years ago that purchase fresh fruits and vegetables for schools and other federal food programs.

Food activists, environmentalists and fiscal conservatives won key amendments that require farmers to conserve soil, wetlands and grasslands in return for federal aid, and that trim crop insurance subsidies to farmers who earn more than $750,000 a year.

Still, the Senate bill represents incremental change, not the overhaul that the food movement, born in the Bay Area, has been demanding with increasing ferocity over the past decade.

The bill continues to direct most of its farm support to corn, wheat, soybeans, cotton, rice, dairy and other commodities, just as it has since farm programs began in 1933. Those benefits, as they have for decades, continue to accrue to the largest farms, hastening farm industrialization and specialization.

The bill was a debut for the new committee chair, Rep. Debbie Stabenow, D-Mich., whose state farms mainly produce.

Stabenow and top committee Republican Pat Roberts of Kansas hailed the bill as a major reform that cut the deficit and consolidated hundreds of programs while killing traditional commodity subsidies and shifting farm support to crop insurance.

Although taxpayers pick up on average two-thirds of the cost of the crop insurance premiums, farmers also have to pony up money and do not collect payouts unless they show losses.

Rare alliances

Still, Midwestern corn and soybean growers and Southern cotton growers won new entitlement programs that will have taxpayers cover the cost of small dips in their incomes that most businesses routinely weather without aid.

Senate leaders allowed 73 amendments, with little debate. Unlike most partisan issues that consume Washington, the farm bill pitted rural against urban interests, encouraging rare bipartisan alliances of liberal and conservative lawmakers.

Oklahoma Republican Tom Coburn joined Illinois Democrat Dick Durbin on the amendment that limited insurance subsidies to wealthy farmers.

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NCAA DI OTF Championships ? 2012 Scoring Breakdowns

Here?s a look at some more scoring breakdowns from the 2012 NCAA Division I Outdoor Track & Field Championships. A breakdown by conference, hometowns, and more are listed here.

For a full breakdown of each categories with subcategories by school and hometown, view this PDF.

(indiv. events only)

(indiv. events only)

(indiv. events only)

(indiv. events only)

Los Angeles-Riverside-Orange County, CA-AZ 84 New York-No. New Jer.-Long Island, NY-NJ-CT-PA-MA-VT 69 Chicago-Gary-Kenosha, IL-IN-WI 63 Houston-Galveston-Brazoria, TX 61 Dallas-Fort Worth, TX-AR-OK 58 Salt Lake City-Ogden, UT-ID 38 Miami-Fort Lauderdale, FL 35 Atlanta, GA-AL-NC 29.5 Sacramento-Yolo, CA 28.5 St. Louis, MO-IL 28 Seattle-Tacoma-Bremerton, WA 27 Oklahoma City, OK 24 Kansas City, MO-KS 23 New Orleans, LA-MS 23 Boston-Worcester-Lawrence-Lowell-Brockton, MA-NH-RI-VT 22 Denver-Boulder-Greeley, CO-KS-NE 22 Indianapolis, IN-IL 19 Portland-Salem, OR-WA 19 San Francisco-Oakland-San Jose, CA 18 Grand Rapids-Muskegon-Holland, MI 18 Orlando, FL 17 Pittsburgh, PA-WV 16 Washington-Baltimore, DC-MD-VA-WV-PA 16 Jackson, MS-AL-LA 14 Norfolk-Virginia Beach-Newport News, VA-NC 14 Lafayette, LA 13 Anchorage, AK 13 Knoxville, TN 11 Memphis, TN-AR-MS-KY 10.5 Des Moines, IA-IL-MO 10 San Diego, CA 10 Cleveland-Akron, OH-PA 10 Fort Wayne, IN 10 Greenville-Spartanburg-Anderson, SC-NC 10 Toledo, OH 10 Minneapolis-St. Paul, MN-WI-IA 9 Nashville, TN-KY 9 Wichita, KS-OK 9 State College, PA 8 Milwaukee-Racine, WI 8 Philadelphia-Wilmington-Atl. City, PA-NJ-DE-MD 8 Baton Rouge, LA-MS 8 McAllen-Edinburg-Mission, TX 8 Detroit-Ann Arbor-Flint, MI 8 Columbus, OH 8 San Antonio, TX 8 Raleigh-Durham-Chapel Hill, NC 8 Richmond-Petersburg, VA 8 Las Vegas, NV-AZ-UT 7 Grand Island, NE 6 Hickory-Morganton, NC-TN 6 Charlotte-Gastonia-Rock Hill, NC-SC 6 Tampa-St. Petersburg-Clearwater, FL 5 Cedar Rapids, IA 5 Sarasota-Bradenton, FL 5 Reno, NV-CA 5 Elkhart-Goshen, IN-MI 5 Topeka, KS 5 Fargo-Moorhead, ND-MN 5 Omaha, NE-IA-MO 5 Roanoke, VA-NC-WV 5 Tallahassee, FL-GA 4 Erie, PA 4 Green Bay, WI-MI 4 Lake Charles, LA 4 Greenville, MS 4 Pensacola, FL 4 Grand Forks, ND-MN 4 Macon, GA 3.5 Biloxi-Gulfport-Pascagoula, MS 3 Cincinnati-Hamilton, OH-KY-IN 3 Birmingham, AL 3 Appleton-Oshkosh-Neenah, WI 3 Davenport-Moline-Rock Island, IA-IL 3 Lubbock, TX 3 Rochester, MN-IA-WI 2 Dayton-Springfield, OH 2 Odessa-Midland, TX 2 Corpus Christi, TX 2 Albany-Schenectady-Troy, NY 1 Mobile, AL 1 Sioux Falls, SD-IA-MN-NE 1 Syracuse, NY-PA 1 Austin-San Marcos, TX 1

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