Monthly Archives: April 2015

Speeding Ticket in Finland Costs Businessman $58,000

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“When the ‘day fine system’ was devised for petty crimes, Finland did not even have any speed limits on its roads. Those did not arrive until the 1970s.  Back then, the police had to rely on the honor system, that is, asking drivers to declare their incomes, before calculating the fine. In today’s digital age, however, a few seconds is all it takes for the police, using mobile devices, to get information directly from the Finnish tax office.  Police officials say that there are really very few tickets issued of this magnitude, though they do not keep track.  Mr. Kuisla would have gotten a fine of about 100 euros if he had been traveling three kilometers per hour slower.”

http://www.nytimes.com/2015/04/26/world/europe/speeding-in-finland-can-cost-a-fortune-if-you-already-have-one.html

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Croatian Swiss franc debtors demand central bank governor resign

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“Thousands of Croatians holding loans denominated in Swiss francs took to the streets of Zagreb on Saturday, demanding local banks to restructure the debts and the central bank governor to step down for failing to take action. Some 60,000 Croatians hold around 27 billion kuna (£2.5 billion) worth of Swiss franc-denominated loans, mainly taken out during the 2000s when many in central and eastern Europe were attracted to low interest rates on the Swiss currency. The franc surged in January when the Swiss central bank scrapped its peg to the euro, driving the loans’ costs sharply higher. The Croatian government fixed the franc rate against the kuna at 6.39 for one year to put a cap on the mounting debts.”

https://au.news.yahoo.com/world/a/27350119/swiss-franc-debtors-march-in-croatia-demand-cen-bank-governor-to-resign/

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Fiat Chrysler CEO: Please don’t buy Fiat 500e electric car [2014]

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“Fiat Chrysler Automobiles Chief Executive Sergio Marchionne has a request for potential buyers of the automaker’s Fiat 500e electric car: Don’t buy it. He’s tired of losing money.  Decrying the federal and state mandates that push manufacturers to build electric cars, Marchionne said he hoped to sell the minimum number of 500e cars possible.  Through April, the automaker sold 11,514 of the 500 cars in the United States this year, down about 15 percent from the same period last year. The company does not break out 500e sales. ‘I will sell the (minimum) of what I need to sell and not one more,’ Marchionne said of the 500e.”

http://www.reuters.com/article/2014/05/21/chrsyelr-ceo-evs-idUSL1N0O71MS20140521

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California to cap income eligibility for clean-vehicle rebates [2014]

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“Nearly four-fifths of [California] rebates went to households earning $100,000 or more. Nearly half of those getting rebates for Tesla’s premium electric sedan earned at least $300,000.  With the state’s incentive program constantly running out of funds — about 13,500 buyers are on a waiting list to get their rebate — state lawmakers are now looking to get more of that money into the hands of lower-income drivers.  Proposed legislation underscores the dilemma the state faces in lowering tailpipe emissions in a traffic-choked state: how to nurture the development of expensive automotive technology without simply underwriting high-priced cars for the rich.”

http://www.latimes.com/business/autos/la-fi-hy-electric-car-rebates-20140807-story.html#page=1

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Global Markets Hitting All-Time Highs

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“In the United States and the European Union, central banks have printed money mostly out of thin air. It’s quintessential funny money — an addictive drug that, when ultimately  withdrawn, could leave a series of painful hangovers.  But in key emerging markets — especially China — the central banks are drawing the liquid funds from a rich treasure chest of reserves. And this, in turn, is helping to create a burgeoning new middle class that’s driving more cars, crowding into more shopping malls, using more mobile devices, buying more homes.”

http://www.moneyandmarkets.com/global-markets-hitting-time-highs-70875

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Why It’s Cheaper to Lease a New Electric Car Than to Buy One Used

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“It comes down to the government’s preferred way of encouraging people to drive EVs: tax credits. The federal credit is $7,500. That’s a bottom-line credit, so if you’re not paying at least that much in federal taxes, you’re not getting the full benefit. (Various states offer different credits, or none at all.)  That leads people to lease EVs instead. The financing company that buys the new car from the automaker gets the full tax credit, so it can pass those savings to the lessee in the form of lower monthly payments. That’s why you can get a new Nissan Leaf for $2,400 down and $199 a month for 36 months. It’s hard for used EVs to compete with lease rates this low, because the tax credit isn’t passed down.”

http://www.wired.com/2014/08/why-its-cheaper-to-lease-a-new-electric-car-than-to-buy-one-used/

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Chevrolet discounts Spark EV: ‘Cheaper than phone bill’

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“Chevrolet global marketing boss Tim Mahoney, briefing members of the Washington Automotive Press Association in Arlington, Va., Tuesday, wouldn’t say whether the car makes or loses money. Instead, he said its ‘ability to draw new customers to Chevrolet is a major consideration.’   Automakers are forced to take the losses to do business in states that require them to sell a certain number of ‘zero-local-emission’ vehicles. That’s a relatively new description, to acknowledge that the utility power plants generating electricity to recharge electrics do create emissions.”

http://www.usatoday.com/story/money/cars/2015/04/14/chevrolet-spark-ev-price-cut/25757935/

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Meet the NSA’s disturbing Earth Day mascot, Dunk

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“Hey there. This is Dunk. Dunk is a trash can taken from the stuff of nightmares and repurposed by the NSA to promote Earth Day.  The NSA is currently hosting a STEM Recycling Challenge in Maryland schools in an attempt encourage students to consider what happens to the junk they discard daily.”

http://www.theverge.com/2015/4/19/8453531/nsa-mascot-dunk-earth-day

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The NSA made a coloring book for kids

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“The book, America’s CryptoKids: Future Codemakers and Cokebreakers, tells the story of a team of talking animals, who, when they’re not spying on you, spend their time shredding on the guitar and playing friendly games of lacrosse. While also spying on you, of course.”

http://www.theverge.com/2015/4/26/8499267/nsa-coloring-book-cryptokids

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The Danger Of Overstuffing Your IRA

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“If you put too much in an Individual Retirement Account, you can expect to hear from the Internal Revenue Service. That’s the bottom line of a new report by the Treasury Inspector General for Tax Administration, ‘Actions Can Be Taken To Further Improve The Strategy For Addressing Excess Contributions To Individual Retirement Arrangements.’  It’s not just taxpayers making mistakes. When analyzing tax year 2011 Forms 5498 for excess contributions, TIGTA determined that approximately 834,000 (7 percent) of 11.9 million Forms 5498 filed by IRA custodians appeared to be inaccurate.”

http://www.forbes.com/sites/ashleaebeling/2015/04/23/the-danger-of-overstuffing-your-ira/

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