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BMW M's Boss Officially Confirms M Version of 1-Series Coupe

2010-06-02T21:40:00.000-07:00

For the past year or so, we've been hearing all sorts of rumors about a possible M-badged variant of the 1-Series. We've also seen many spy videos and photographs of what appeared to be a prototype version of the sports car testing at the Nurburgring circuit. But nothing was official, until now, that is.

In an interview with German webzine "Auto-News", BMW M GmbH's Managing Director Dr. Kay Segler for the first time officially acknowledged the Bavarian automaker's plans to introduce an M-variant of the 1-Series Coupe.

Segler did not give out any specific details on the sports coupe, but he did say that it will not carry the M1 badge as this name is reserved for the original model, adding that the M-prepped 1-Series Coupe will go on sale in relatively small number of copies in the second quarter of 2011.

It remains to be seen what kind of powerplant will motivate the M variant of the 1 coupe, though most bets are on an upgraded version of the 135i's 3.0-liter turbocharged straight six.

*All Photos, including the opening sketch, are of the 2007 BMW 1-Series tii Concept

Source: Auto-news , Via: 1Addicts

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2011 Chevy Volt

2010-04-24T00:55:00.000-07:00

2011 Chevy Volt - Click above for high-res gallery

According to Consumer Reports, Chairman Ed Whitacre has said that the Chevrolet Volt will go on sale this October. Of course, we've heard this rumor before, and each time GM says that the original target date is not moving. Last year, for example, Jon Lauckner, General Motor's vice president for global product planning, said, "Our date with destiny is November of 2010." Given the intense scrutiny GM is under with this particular vehicle program, we wanted to hear form the source if anything has changed. Dave Darovitz, who handles corporate communications for the Volt and the fuel cell Equinox, told Autoblog:

As you can expect, we're pretty excited about the market potential for the Chevrolet Volt electric vehicle. Our plans and focus have not changed - we continue to drive toward a flawless consumer experience when we launch in the fourth quarter this year in California, Michigan and Washington D.C.

Kind of cryptic. Darovitz doesn't say it won't be October, but also makes it clear that GM's plans remain what they have always been. Guess we'll have to keep waiting, for the Volt and to learn about the real release date.

2011 Chevy Volt

Federal Reserve holds rates for 10th time

2010-03-08T19:49:00.000-08:00

Highlights

* The Federal Open Market Committee maintained its target for the federal funds rate.
* The yields on insured bank deposits are likely to remain stuck in the muck.
* The Fed has bought more than a trillion dollars' worth of mortgage-backed securities since late 2008.

The Federal Reserve continues to punish savers and reward borrowers as it keeps its benchmark overnight interest rate at about zero percent.

The Federal Open Market Committee maintained its target for the federal funds rate in a range of zero percent to 0.25 percent, in a decision that everyone expected, and hinted that it won't raise the rate anytime soon. Banks make overnight loans to one another at the federal funds rate, which then influences other short-term rates, including variable-rate credit cards and shorter-term certificates of deposit. The Fed has kept the federal funds rate near zero for more than 13 months to encourage consumers and businesses to borrow and spend to get the economy going.

For months, the Fed has said that economic conditions "are likely to warrant exceptionally low levels of the federal funds rate for an extended period." That's the Fed's way of saying that it plans to keep the rate near zero for at least the next few months. The Fed kept that wording in this monetary policy statement. But, in a change, the decision to keep that wording wasn't unanimous. One member of the panel, Thomas Hoenig, "believed that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted," according to the Fed's statement.

"The first crack in the armor," says Bob Walters, chief economist for Quicken Loans. But he adds that he doesn't think a lone dissenter is a big deal -- if two or three committee members dissented, they would be sending a clear message.

With the federal funds rate so low, the yields on insured bank deposits are likely to remain stuck in the muck. Last week, the average yield on a money market account was 0.24 percent in Bankrate's weekly survey. CDs weren't much better, with yields less than half a percent for deposits of six months or less. Those yields probably won't improve anytime soon.

It's too early to say how the Fed's rate decision will affect mortgages. Fixed-rate mortgages are long-term loans, so the overnight rate has little impact on them. In typical times, mortgage rates reflect investors' consensus about the economy: In good times, mortgage rates tend to rise, and in recessions, mortgage rates tend to fall. But these aren't typical times.

In an effort to reduce mortgage rates, the Fed has bought more than a trillion dollars' worth of mortgage-backed securities since late 2008. In announcing the purchase program in November 2008, the Fed said that the goals were to "reduce the cost and increase the availability of credit for the purchase of houses."

There's no doubt that the Fed succeeded in its first goal, that of reducing mortgage rates. In October 2008, the month before the Fed announced its plan to buy mortgage-backed securities, the 30-year fixed-rate mortgage averaged 6.49 percent. In December 2009, the 30-year fixed-rate mortgage averaged 5.15 percent.

The Fed reiterated that it plans to stop buying mortgage-backed securities by the end of March. Almost everyone in the mortgage industry expects the Fed's withdrawal from the market to be followed quickly by a rise in mortgage rates. But mortgage analyst Adam Quinones thinks the increase in mortgage rates might be muted, because of lack of demand. "There isn't a better time for the Fed to make an exit," Quinones says.

Walters thinks rates might rise after the Fed withdraws from the mortgage market, but he doesn't expect them to skyrocket. "Wouldn't it have happened already?" he asks. After all, the Fed has been broadcasting the withdrawal plan for months. No one will be taken by surprise when the Fed stops buying mortgage-backed securities. The last thing the Fed wants to do is spring any surprises on investors.

Boat plant closing hits Little Falls 'in the teeth’

2010-02-03T22:00:00.001-08:00

The hometown of legendary aviator Charles Lindbergh has had a spirited love affair with the boating industry for 90 years. But the news this week that a Little Falls boat plant will be closing has left the central Minnesota community drowning in confusion -- and with 180 fewer jobs.

"It's devastating, a kick in the teeth," Little Falls Mayor Cathy Van Risseghem said Wednesday in response to Tuesday's announcement that Brunswick Corp. would be moving the production of Crestliner and Triton boats and pontoons to plants in Missouri, Indiana and New York Mills, Minn.

"This is what our heritage is," Van Risseghem said. "Four generations of Little Falls families have been in this industry. And now this ... just when we've gotten our hopes up."

The community of 8,000 has been riding waves of emotion for five years -- ever since Brunswick bought Crestliner from Irwin Jacobs' Genmar Holdings. Two years ago, Brunswick laid off 115 workers at plants in Little Falls and New York Mills.

Then came the announcement last month that the Jacobs-controlled JD Acquisitions had bought the Larson, Seaswirl and FinCraft boat brands and the Little Falls plant that builds those boats.

"That is a real sign of hope," Carol Anderson, community development chief for Morrison County, said Wednesday. "And we need to hang onto every bit of hope after the way this happened."

Crestliner began in 1942 as the Aluminum Boat Co., when William Morse Sr. developed the small craft with its trademark red lower hull that in time would become a Minnesota icon. In 1948, the company was renamed Larson Watercraft, and in 1955 it christened all of its boats "Crestliner.''

Its first fiberglass boat, the Comanche 17, was built in 1958, and in 1964 Crestliner produced its first all-welded aluminum boat, setting itself apart from the riveted aluminum hulls built by Alumacraft and Lund.

State stops matching deferred compensation contributions

2010-02-03T21:59:00.000-08:00

The state will stop matching state workersâ € ™ deferred compensation contributions from March 1.

As part of Gov. .. Jay Nixonâ € ™ s latest round of cutbacks, the state will drop its monthly draw up to $ 35 between March 1 and June 30.

Nixonâ € ™ s proposed budget has the money for the competitions for the year beginning on July 1, but Bubs Hohulin, an assistant to Sen. .. Carl Vogel, said it's € ™ s unlikely that the match will be funded for the coming fiscal year.

â € œFrom a practical standpoint, if it's € ™ s in 2010, € ™ s it's very difficult to convince the parliament to remain in the year 2011, â €? Hohulin said.

On Tuesday, Nixon cut an additional 73.8 million U.S. dollars in this fiscal yearâ € ™ s budget. The elimination of the deferred compensation match could save 2.2 million U.S. dollars between March 1 and June 30.

Several state employees on Wednesday said they were shocked upon hearing the news. They said they hadnâ € ™ t heard first hand, but that state employees were sending e-mails with information.

Charity Hall, who works for the Ministry of elementary and secondary education, said many state employees work for the state, not because the pay is equitable with the private sector, but because the benefits are good. OEI â € donâ € ™ t want to go half track so that I can have a decent package, â €? she said.

Adds developments from court this morning

2010-02-03T21:57:00.001-08:00

Tomahawk man sentenced to life imprisonment in January 2009 at the court today to withdraw his guilty plea and request for re-sentenced.

Derek Domke, pleaded guilty October 13, 2008 at the expense of the first murder and armed robbery. Police said Domke slain Rochelle Anderson, 25, March 22, 2008, from convenience Cruising Zephyr in the Tomahawk. An autopsy showed that Anderson was beaten and stabbed to death during a robbery at the gas station.

Domke, 19, gave investigators the name of the alleged accomplice, but no one was charged in connection with the death of Anderson. Domke trial lawyer, Robert Rush revealed today that Domke told him that another man Domke asked for the knife to scare the clerk during a robbery. Domke, provided that a person with a knife and then saw Anderson was injured when he returned to the stores, "said Rusch.

In a motion filed in that case Domke argued that he was forced to plead to the charge of first degree murder and was not informed by his counsel about the possibility of charging murder crime.

Rush said he and Domke spoke several times by telephone and in person at the lower wages. Rusch said he recommended Domke, a charge that he as an option for the jury will submit, but declined Domke.

"(Domke), was very concerned that we could not protect his business," said Rusch. (A) an element of his fatigue and anxiety, as he is admitted to a plea agreement, probably the best he can expect in the circumstances to offer. "

Occupation Attorney Domke "James Rebholz, Domke questioned if the impact of the debt. Rebholz said Domke understood suffering from psychological problems, do not take the necessary drugs in prison and was placed on suicide watch for two weeks before October 2008 are invited to a hearing.

Police officers and a psychologist who examined Domke are among those scheduled to testify later today.

Look for updates on the hearings Domke later today.

Gay ban should be lifted, says top officer

2010-02-03T21:52:00.000-08:00

Washington DC - is het tijd om de militairen te trekken: "Don't Ask, Don't Tell"-beleid en laat homo troepen te dienen is geopend voor het eerst in de geschiedenis, hoge ambtenaren, zei de bescherming van dinsdag met de voorzitter van de Joint Chiefs of Staff verklaarde dat het leger niet mag worden gedwongen "liegen over wie ze zijn."

Echter, als U. S. minister van Defensie Robert Gates en de Joint Chiefs voorzitter Admiral Mike Mullen werd gevraagd tijdens het jaar studies naar de gevolgen voor het Congres zou trekken de controversiële beleid.

De omkering van het Pentagon 17-jaren beleid ten aanzien van homo's "worden gereduceerd tot integriteit," voor de militaire als instelling, evenals militair personeel zelf, Malla zei de hoorzittingen in de Senaat. Overtuigen, verscheidene Republikeinse senatoren zeiden dat ze zouden alle inspanningen die het Congres ingetrokken het beleid verzetten.

Gedurende de tien maanden voor de kiezers kiezen een nieuw Congres, sommige Democratische leiders ook verdacht werden van pogingen om haar beleid te veranderen dit jaar, wanneer beide partijen erkennen de Republikeinen zou kunnen ophalen zetels, vooral omdat de GOP verkozen senator Scott Brown, een onverwachte overwinning vorige maand in Massachusetts. Intrekking-Don't Ask-Don't Tell-is NIET een winnende strategie voor de campagne voor de partij onder vuur.

"Wat ik wil de leden in hun wijken?" Ik wil richten op banen en fiscale verantwoordelijkheid ", zegt U. S. House Majority Leader Steny Hoyer, D-MD., Classificeren van homo's in het leger onder" een heleboel andere zaken "die onvermijdelijk komen.

"Het is nooit een goed jaar" voor de Democraten om de controversiële beleid te verhogen, "zei de Democratische Senaat Whip Richard Durbin van Illinois. "We kunnen verwachten dat het zal ruwe rit zijn."

Echter, Senaat Majority Leader Harry Reid, D-Nieuw., Zei dat hij niet begrijpt waarom hij moet een jaar wachten.
Review verbod

Het Pentagon kondigde de 11-maanden herziening van de wijze waarop het verbod kan worden opgeheven, zoals de Amerikaanse president Barack Obama zei dat hij zou werken. Maar er is geen tijdschema voor het beëindigen van het beleid dat de ambtstermijn van president Bill Clinton, en dat homorechten pleit aandringen op de annulering.

State stops matching deferred compensation contributions

2010-02-03T21:35:00.000-08:00

The state will stop matching state workersâ € ™ deferred compensation contributions from March 1.

As part of Gov. Jay Nixonâ € ™ s latest round of cutbacks, the decline is the monthly draw up to $ 3Dyarzhava termination of the relevant government workersâ € ™ deferred compensation contributions, starting March 1.

As part of the Governor Jay Nixonâ € ™ s the latest round of cutbacks, the state leaves its monthly match up to $ 35 starting March 1 and June 30.

Nixonâ € ™ s proposed budget is the money in the game for the fiscal year beginning July 1, but BUBS Hohulin, assistant to Senator Carl Vogel, said Ita € ™ s probably not the next fiscal year will be funded.

â € œFrom practically see if itâ € ™ s in 2010 Ita € ™ s very difficult to convince the legislature to continue in fiscal 2011, €? Hohulin said.

On Tuesday, Nixon cut an additional 73.8 million U.S. dollars in this fiscal yearâ € ™ with the budget. Removal deferred compensation match to save 2.2 million U.S. dollars in the period of March 1 and June 30.

Several officers on the afternoon of Wednesday, said they were shocked to hear news. They said that hadnâ € ™ t heard from first hand, but state employees by sending e-mail with information.

Charity Hall, who works in the Department of Primary and Secondary Education, said many officials working for the state, not because they pay a fair relationship with the private sector, and because the performances are good. OEI â € donâ € ™ t want another job, so I can have a decent retirement package, â €? yana.5 said between March 1 and June 30.

Nixonâ € ™ s proposed budget has the money for the competitions for the year beginning on July 1, but Bubs Hohulin, an assistant to Sen. Carl Vogel, said it's € ™ s unlikely that the match will be funded for the coming fiscal year.

â € œFrom a practical standpoint, if it's € ™ s in 2010, € ™ s it's very difficult to convince the legislature to remain in the year 2011, â €? Hohulin said.

On Tuesday, Nixon cut an additional 73.8 million U.S. dollars in this fiscal yearâ € ™ s budget. The elimination of the deferred compensation match could save 2.2 million U.S. dollars between March 1 and June 30.

Several state employees on Wednesday said they were shocked upon hearing the news. They said they hadnâ € ™ t heard firsthand, but that state employees were sending e-mails with information.

Charity Hall, who works for the Ministry of elementary and secondary education, said many state employees work for the state, not because the pay is equitable with the private sector, but because the benefits are good. OEI â € donâ € ™ t want to get half track so that I can have a decent package, â €? she said.