Ford’s Strategy For Self-Driving Cars May Be The Smartest One Yet

Posted by admin on 08/24/2016 in Secured Funding | Short Link
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Unlike rival automakers, Hyundai and affiliate Kia Motors have shunned joint ventures or alliances to make high-cost, low-volume sports cars and electric vehicles. Hyundai is now seeking to transform its go-it-alone strategy and become more open to tie-ups with tech upstarts and Silicon Valley giants to stay relevant in the coming era of connected cars and autonomous driving.

“Hyundai is lagging behind the competition to develop autonomous vehicles,” said Ko Tae Bong, senior auto analyst at Hi Investment amp; Securities Co. “It’s not a choice but a critical prerequisite for Hyundai to cooperate with IT companies, such as Google, to survive in the near future.”

It’s be a homecoming of sorts for at least one important person at Google.

Any potential collaboration between the two companies may be aided by John Krafcik, the former Hyundai US chief who joined Google in 2015 to lead its self-driving car project.

Another interesting thing to watch!

3rd Gear: Chinese Electric Car For The Masses Raises $1 Billion

You probably haven’t heard of WM Motor. But it’s led by a Chinese auto industry veteran and just succeeded in raising $1 billion in an initial fundraising round, Bloomberg reports. The goal: make a better and more affordable electric car than Tesla.

Freeman Shen left Volvo Cars owner Zhejiang Geely Holding Group Co. in 2014 and last year founded WM Motor, which he says has secured funding from both domestic and overseas investors. WM plans to introduce its first model in 2018 and boost production to more than 100,000 units annually within the following three years, he said Tuesday.

“We have profound experience in the industry, which distinguishes us from other startup companies, even Tesla,” Shen, who’s worked in the auto industry for 22 years, said in an interview in Shanghai. “We don’t want to make toy-like luxury cars for the minority. We will target the mass market.”

Oooh, shots fired!

4th Gear: Can Uber And Lyft Replace Bus Drivers?

Apparently, it’s what they want now, and they’re getting subsidies from cities in Florida and Colorado to try it. Via Bloomberg:

In Uber’s early days, it said it wanted to be “everyone’s private driver.” Now the company and its main US competitor, Lyft, are playing around with the idea of becoming the bus driver, too. Uber has partnered with a handful of local public transportation agencies to strike deals like the one in Pinellas Park, which it expanded earlier this month.

Later this month Lyft plans to launch a partnership with Centennial, Colorado, its first deal where a local government will subsidize its rides. The company also said it has helped a dozen transit agencies apply for federal grants that would pay for a portion of Lyft fares.

But!

Governments already pay for taxis in some situations, but the deals with Uber and Lyft could usher in more fundamental change. What happens to people without smartphones? What happens if the cities come to rely on the apps, only to have the private companies decide the partnerships are no longer a sensible business venture?

Who can say.

5th Gear: Meet The New Bosses

I’m going to borrow 5th Gear for a housekeeping note real quick, if you don’t mind.

As you may have seen in the news yesterday, Jalopnik’s parent company, Gawker Media, has been purchased at auction by TV and digital publisher Univision. That is a thing that is happening!

What does that mean for Jalopnik, or for you, the reader? In the immediate term, not much. A lot has yet to be determined, but in the meantime we will continue the important work we do every day, like making fun of Lewis Hamilton and writing about adventures in questionable cars.

As always, thank you for your continued support, and for being a part of the best and most dedicated readers on the internet.

Reverse: Kettering!

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Citizens targets loans to parents looking to adopt

Posted by admin on 08/24/2016 in Unsecured Lending | Short Link
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In March, before the partnership began, Citizens started targeting loans to adoptive parents. The effort is led by MK Fiorille, the Dedham-based head of unsecured lending at Citizens, who is adopted herself. To date, the bank has given out more than 6,000 of the loans.

The NAF was attracted to Citizens in large part by Fiorelle’s personal connection with adoption, as well as that of Brad Conner, vice chairman of consumer banking, who is an adoptive parent. “We realized what better financial institution is there to have a relationship with than one where two of the executives have been down this road?” said Tommy Alfredo, who sits on the NAF’s board.

The NAF used to have a similar relationship with a California financial institution that the organization ultimately felt did not care enough about the adoption element, but saw the partnership in more purely financial terms, according to Alfredo. Fiorelle said Citizens has trained its customer service team to be sensitive to the emotion that adoptive parents can feel when pursuing financing. The average cost of adoption is $30,000, according to NAF research.

Citizens is donating at least $100 in support of NAF’s mission for every loan made through the partnership, it said.

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Simi Valley council extends lease for Under One Roof project

Posted by admin on 08/18/2016 in Secured Funding | Short Link
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The Simi Valley City Council voted 4-1 this week to extend the lease for the long-planned Under One Roof facility for nonprofits despite a related criminal investigation into a possible embezzlement.

The Simi Valley Community Foundation, which is overseeing the project, announced in July that it had uncovered potential evidence of financial malfeasance and turned it over to the Ventura County District Attorneys Office. Prosecutors say they are investigating a possible embezzlement from the foundation, a nonprofit umbrella group for local charities.

Even so, the Simi Valley City Council on Monday night extended the $1-a-year lease for the citys Development Services Building, where the Under One Roof facility will be housed, for six months. The facility is intended to house local civic, health and human services nonprofits to better serve their clients and the community. It currently is unoccupied.

The extension will give the foundation more time to demonstrate that it has secured funding for the project, a requirement of the lease, which the council initially approved in August 2013. The foundation said it couldnt make this months deadline to do so.

Jarrod DeGonia, chairman of the foundations board, has declined to say whether missing the deadline had anything to do with the possible financial malfeasance.

The City Council extended the lease over the strong objections of Councilman Keith Mashburn.

Here we have alleged criminal activity going on and were being asked to extend the lease, said Mashburn, the sole dissenting vote.

Mashburn said he favored letting the lease expire this week and wait for the results of the District Attorneys investigation. If no crime was committed, or if the crime is limited in scope, the foundation could then reapply for the lease, Mashburn said.

But Councilman Steve Sojka said letting the lease expire would send the message that we dont have confidence in the foundation.

Id hate to kill any momentum, or kill (the project) completely. A lot of years of hard work have gone into the project, which is an important one for the community, Sojka said. Mayor Bob Huber said the project has been in the works for at least eight years.

A condition of the councils extension of the lease is that the foundation provide it with monthly financial reports.

We have a historic record of not receiving reports, Mashburn said.

Councilman Glen Becerra told DeGonia that the council needs to see very significant progress on the project in the next six months for it to continue to have the bodys support.

Mashburn also complained that the foundation didnt inform the council directly about the investigation.

When did the investigation begin and why werent we notified? he asked. I feel slighted I didnt know about it.

DeGonia replied that he cant comment on an ongoing investigation. I dont have a lot of information, he said.

Though he voted to extend the lease, Huber said the investigation is a cloud hanging over the project. Even so, I dont want to throw the baby out with the bathwater, he said.

DeGonia said he was pleased with the extension.

Were thankful for the councils trust to allow us to move forward with this, he said. A lease extension allows us the opportunity to develop a strategy … on how we continue the capital campaign.

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30 Ways to Give Yourself a Raise

Posted by admin on 07/11/2016 in Consolidating Debt | Short Link
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6. Buy a dividend stock: Dividend stocks are the gifts that keep on giving. They can hedge your downside in a falling market, and reinvesting your payouts over time can allow you to accumulate more shares of stock, leading to bigger dividend payouts, and even more shares of stock. This repeating process is known as compounding, and its what the pros use to get rich.

7. Hold your stocks for the very long term: When buying stocks, consider holding them for the long-term, which is at least a year and a day. Short-term capital gains are subject to ordinary tax rates that range between 10% and 39.6%, whereas long-term capital gains taxes are much lower: 0% (for the 10% and 15% ordinary income-tax brackets), 15% (for the 25%, 28%, 33%, and 35% income-tax brackets), or 20% (for the 39.6% income-tax bracket).

8. Refinance your mortgage: Lending rates remain near their historic lows thanks to economic uncertainty and Brexit, meaning if youre paying 4.5% or higher on your mortgage, it could be worthwhile to consider refinancing to a lower rate and saving money each month.

9. Consider banking with a credit union: With interest rates as low as they are, big banks are looking everywhere to boost profits. This includes charging checking account fees to consumers for not maintaining a minimum account balance. Credit unions are often smaller and more community-oriented. They also have less of a tendency to nickel-and-dime their customers or require a minimum account balance.

10. Pay down your debts: Once you have a stranglehold on your budget, you can consider paying down your debts. Remember, your best strategy is going to be to tackle your highest interest rate debt first. You may also consider consolidating debt on a low APR card to help reduce what you owe.

11. Set up automatic payments on basic expenses: Ever had a late payment? The fees associated with late payments, and potentially higher interest rates on credit cards, can be a killer. By setting up automatic payments for basic expenses you can avoid ever dealing with late payments and associated fees again.

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Man arrested for trying to cash forged check

Posted by admin on 07/10/2016 in Cash | Short Link
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A Decatur man is behind bars after police say he tried to cash a fake check at Regions Bank.

Morgan County dispatchers got a call on Friday from the bank on 4th Avenue NW saying Kenny Wayne Cooley was trying to cash a forged check.

A patrol officer detained Cooley and brought him to the police station, where he was questioned by detectives.

Cooley has been charged with criminal possession of a forged instrument in the third degree. His bond is $2,500.

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Jessica Alba goes monochrome chic with Cash Warren on date night

Posted by admin on 07/10/2016 in Cash | Short Link
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Jessica Alba and her husband Cash Warren have two children together and recently celebrated their eighth wedding anniversary.

And on Friday, the happily married couple nurtured their relationship as they enjoyed a date night out in Los Angeles. 

The actress, 35, and her producer beau, 37, took in a movie at the ArcLight Theater in Hollywood, dined at Los Balcones eatery, and then took a romantic stroll.

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Asset managers "detach from UK" as BoE readies help for banks

Posted by admin on 07/10/2016 in Unsecured Lending | Short Link
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Asset managers are getting ready to quit the UK and Bank of England chiefs are set to help banks following the EU referendum.

The Financial Times reported that asset managers had begun a “slow detachment” from London following last months vote.

Mamp;G (LON:MGHI), Columbia Threadneedle, Legg Mason, Fidelity International and T Rowe Price had all outlined plans to move staff from London or set up fund ranges in neighbouring EU countries to avoid being locked out of fundraising in the bloc, the newspaper reported.

Asset managers fear that a UK exit from the EU would threaten Britain’s position as the world’s second-biggest centre for the industry after the US, the FT said.

The newspaper also said Bank of America Corp (NYSE:BAC) was close to calling off the sale of its £7bn MBNA credit card business in the UK after the referendum result reduced demand from bidders.

BofA is said to be reviewing plans for the auction, which has attracted interest from the likes of Lloyds Banking Group PLC (LON:LLOY) and private equity groups Cerberus and TPG.

Meanwhile, Bank of England chiefs are tipped to relieve banks of the need to increase their capital buffers as the UK economy weakens following the referendum vote to leave the EU.

The bank’s financial policy committee on Tuesday is set to reverse the rise in the “counter-cyclical buffer” to 0.5% that it announced in March, Goldman Sachs Group Inc (NYSE:GS) said in a note.

The decision would reflect a switch in the central bank’s approach towards providing supportive credit conditions rather than guarding against excessive credit growth.

Goldman expects the committee to say domestic risks now dominate the UK economic outlook, although it does not anticipate the committee taking any supportive action at the moment.

But cyclical assets that have grown significantly, such as unsecured lending and buy-to-let mortgages, are seen as key risk areas.

Goldman is advising investors to buy into Royal Bank of Scotland PLC (LON:RBS), which it says has ample capital and funding buffers and a more domestic focus than more internationally targeted rivals.

It also sees Asia-focused Standard Chartered PLC (LON:STAN) as a ‘buy’.

In a separate report, Goldman said flows into UK equity funds initially responded positively following the referendum result, but then faded.

Eurozone area funds were quicker to see outflows, but also showed signs of stabilising more rapidly.

We estimate that (more than) 90% of UK fundsmay have underperformed the FTSE UK All Shareindex this month, Goldman said.

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Victim in Brighton loses cash, subletee on same scam

Posted by admin on 07/10/2016 in Cash | Short Link
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BRIGHTON 

Grand larceny/scam: On June 23, an employee of a company on Brighton-Henrietta Town Line Road received an e-mail, supposedly from her boss, asking her to transfer money to another persons account. The employee did so. The employers e-mail account had been hacked.

Criminal mischief: At 9:15 am July 2, a resident of Grosvenor Road heard two loud bangs on the door. The homeowner opened the door to see an unknown male riding away. There is some damage to the door panel.

Unauthorized use of a vehicle: On July 6, Fallon Brooks, 22, of Gates was arrested for allegedly refusing to return a vehicle to the Cortese dealership at 2400 West Henrietta Road after the rental agreement had expired.

Grand larceny/scam: In a delayed report from June 30, a person placed an ad on Craigslist to sublease an apartment at Suburban Court. The suspect sent her a check for an amount that was much larger than the amount requested for the apartment, asking the victim to return the surplus. After doing this, the victim learned that the original check was fraudulent.

Petit larceny: Sometime between 9 am and 1 pm July 6, a person on Browncroft Boulevard said someone switched the vehicles wiper blades for an older pair, and that this had happened last winter.

IRONDEQUOIT

Burglary: On June 17, someone stole a white mountain bike from an unlocked shed on Hardison Road.

Burglary: Sometime between June 15 and 20, someone stole power tools from a garage on Thomas Avenue. During the same approximate time frame, someone cut the chains from a secure storage area and stole kayaks.

Larceny: On July 4, someone stole an all-terrain vehicle from a Glenview Lane yard.

Burglary: On July 7, someone stole a bicycle from an unlocked garage on San Rose Drive.

VICTOR

Petit larceny: A Victor man already in custody at Ontario County Jail was charged on July 8 with a petit larceny that occurred in March.

Petit larceny: A Henrietta man was charged after he allegedly stole a T-shirt from Von Maur in Eastview Mall on July 7.

WEBSTER

Petit larceny: An owner of a driveway sealing company reported that someone stole the cones from the end of a customers driveway on Holt Road overnight on June 15.

Criminal mischief: Someone reported on June 18 that an unknown suspect damaged a fence surrounding a business on Barrett Drive while trying to gain entry into that business.

Petit larceny: A resident reported that she observed someone rummaging through her vehicle, parked on Carriage Path Court, on June 18, and scared the intruder away by banging on her window.

Note: Updated reports from Penfield, Perinton, Pittsford and the western suburbs including Greece and Chili were unavailable.

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6 Critical Steps to Prepare Your Finances for Divorce

Posted by admin on 07/10/2016 in Finances | Short Link
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By Shawn Leamon
Learn more about Shawn on NerdWallet’s Ask an Advisor 

The process of getting a divorce often leaves both parties wounded. However, there are a few things you can do right now to ensure that you are financially protected.

1. Gather your financial records

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Pot groups fight over finances

Posted by admin on 07/10/2016 in Finances | Short Link
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PUEBLO, Colo. –

Allegations of campaign and political finance violations are the latest battle in the fight over recreational marijuana in Pueblo County.

Theres a lack of explanation for $1,166, said Dan Corsentino, speaking on behalf of Growing Pueblos Future,a pro-marijuana group, about finances that they believe werent reported by the anti-marijuana group.

Growing Pueblos Future, filed complaints against Citizens For A Healthy Pueblo, the group against the sale of recreational marijuana. A Denver judge has 15 days to decide if Colorado campaign rules were violated

I think that theres accountability issues on both sides. You know, I mean, Growing Pueblos Future has made every attempt to be accountable, Corsentino said.

But Charlene Graham with Citizens For A Healthy Pueblo says its done nothing wrong and have all necessary donations accounted for.

We assured them it was watched the entire time, but its another one of those smokescreens that theyre going to go about this $20, Graham said.

Graham submitted more than 9,000 petitions in June to put a question of banning the sale of recreational marijuana on the ballot.

I, quite frankly, find that this complaint is an assault on all those people, Graham said.

But the complaints over finance are just some of the complaints filed.

There was a poll that was conducted and the opposition has basically said that they did not conduct a poll, Corsentino said.

Graham says in her eyes, that polling issue should have already been cleared up.

We have talked to the man. He sent a letter telling the judge that he was in error and it was entered in as an exhibit, Graham said.

But both parties agree that the disagreements will not stop them for continuing their cause for the November ballot.

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