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Little faith in Obamacare among under-30s

Written By Unknown on Kamis, 05 Desember 2013 | 16.30

A majority of the nation's 18- to 29-year-olds believe costs will rise and quality of care will fall under President Obama's health care reform law, and fewer than three in 10 who are uninsured say they will enroll in coverage through an exchange if and when they are eligible, according to a new national poll by Harvard's Institute of Politics.

The Internet survey of 2,089 millennials found that a majority disapprove of the law, regardless of whether it is referred to as the Affordable Care Act (56 percent) or Obamacare (57 percent).

By a margin of more than 2 to 1, those surveyed believe that the quality of their care will get worse under the health reform law. And between 50 percent (when the ACA is used) and 51 percent (when Obamacare is used) believe the cost of care will increase.

"I wasn't surprised that opinions were negative, but I was surprised at the depth of the negativity, especially when you step back and say this is the demographic that helped get (Obama) elected, and this law is his signature policy achievement," said Trey Grayson, the institute's director. "The administration is going to have to do a better job at selling this."

Among the 22 percent of millennials polled who do not have health insurance, 29 percent say they will enroll in the program described as Obamacare, and 25 percent say the same of the ACA.

Fifty-two percent of those surveyed would recall all members of Congress if it were possible, and 47 percent would recall President Obama.


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Plans escalate for big Quincy Market upgrade

Faneuil Hall Marketplace would be set for dramatic changes to its historic Quincy Market building — including the addition of escalators — under preliminary design plans that manager Ashkenazy Acquisition Corp. is floating with the city.

The New York real estate investment firm is proposing a redesign of Quincy Market that includes a pair of new, two-story tenant additions encased in glass "sheds," according to an 80-page document submitted to the Boston Landmarks Commission. One of the new spaces is designated for a Uniqlo store, the Japanese fast-fashion retailer that's on an East and West Coast expansion spree, according to the documents.

"It's a preliminary design that we wanted feedback on," said Joe Press, Ashkenazy's senior vice president of asset management.

Plans the firm is scheduled to present at the Landmarks Commission's meeting Tuesday call for the removal of "temporary tenant installations." But Kristen Keefe, Faneuil Hall Marketplace's general manager, could not say whether they include pushcarts or other vendors.

Ashkenazy purchased the city-owned tourist center's lease for $136 million in 2011. The city's blessing was based in large part on Ashkenazy's promise of a capital investment in the property that included upgrades to draw locals.

But the city has expressed frustration with the firm's slow pace on a master plan to redevelop the property — a plan it initially had said would come in the spring of 2012. Ashkenazy since has hired Boston's Elkus Manfredi Architects, Watertown planning and design firm Sasaki Associates and New York's Biederman Redevelopment Ventures Corp. to help create the master plan.


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The Ticker

Owner explores sale of Providence Journal

The Dallas-based parent company of the Providence Journal, A.H. Belo, has hired a consultant to explore the sale of the paper, the company said in a statement.

The Journal is the only newspaper owned by Belo outside of Texas, after the sale of the Press-Enterprise of Riverside, Calif., last month.

The company said the eventual sale of the Journal is not guaranteed, and is dependent on finding an appropriate buyer.

MGM Springfield inks deal with Ludlow

MGM Springfield has signed its first surrounding community agreement with the town of Ludlow, the casino giant said. The town will receive $50,000 up front and a minimum of $100,000 per year, according to MGM. MGM is proposing an $800 million casino in the South End of Springfield. The project was endorsed by Springfield voters in July.

State income tax to drop Jan. 1

State Revenue Commissioner Amy Pitter has certified that the state's income tax will be lowered from the current 5.25 percent to 5.2 percent Jan. 1.

In a letter yesterday to Secretary of Administration and Finance Glen Shor, Pitter said tax collections have exceeded benchmarks and have met the threshold required under state law to trigger an automatic .05 percent reduction in the income tax. Officials say the tax cut will result in an estimated loss of $65 million in the fiscal year that runs through July 1.

Robot can solve Rubik's Cube

Humanoid robot Baxter, made by Boston-based Rethink Robotics, can now solve a Rubik's Cube, the company said. In a video posted online, the robot used primarily for monotonous manufacturing tasks recognizes the different colors of the cube and then figures out the necessary steps to solve the puzzle.

TODAY

  • Labor Department releases weekly jobless claims.
  • Commerce Department releases third-quarter gross domestic product.
  • European Central Bank's governing council meets to set monetary policy for the eurozone.

TOMORROW

  • Labor Department releases employment data for November.
  • Commerce Department releases personal income and spending for October.

THE SHUFFLE

  • Marjorie Cappucci, left, has joined Needham Bank's Medfield office as branch manager. She has more than 17 years of banking experience.
  • Snom, a developer of IP desktop business phones, has appointed Brian J. Kelley as chief executive officer. Kelley had previously been managing snom's business in the Americas.

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Hub-Beijing travel ‘traffic’ spurs flights

Written By Unknown on Rabu, 04 Desember 2013 | 16.30

Hainan Airlines' move to start nonstop flights between Boston and China was spurred by the already large number of travelers between the two destinations and the expectation for future growth, a company official said.

"There's a tremendous amount of traffic between Boston and China because of the educational travel, the leisure travel and the business travel in both directions," said Joel Chusid, Hainan's U.S. executive director. "It's a good thing for both economies. The market is also growing. We expect (it) is going to be further stimulated because of the nonstop service."

The Chinese airline confirmed yesterday that it plans to start direct flights between Logan International Airport and Beijing's Capital International Airport on June 20, as the Herald first reported last week. The flights initially will be four times weekly.

Hainan, Massport officials and Gov. Deval Patrick are set to announce the new service today. "Nonstop service from Boston to Beijing will open up new commercial and economic opportunities, and I thank Hainan Airlines for their partnership in achieving this significant milestone," Patrick said in a statement.

Hainan will start taking reservations within a few days for flights aboard Boeing 787s that will take a little more than 13 hours.

"It means a great deal because there are a large number of high-tech and not so high-tech companies in the Boston area that have very important trade relations with Chinese companies," said attorney Samuel Shafner, co-chairman of Burns & Levinson LLP's China practice. "The ability to easily make that trip may reduce a temptation for those companies to be located in markets like New York, where they have a direct flight."

Hainan, whose first nonstop U.S. service started in Seattle in 2008, had talked of Boston being its first U.S. destination since at least 2005. In his 2006 state of the city address, Mayor Thomas M. Menino announced Hainan expected to start air cargo service between Boston and Beijing and Shanghai that summer and passenger service that December. That plan was derailed by delays in the delivery and certification of the 787, Chusid said.


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German giant to venture into Hub

The venture arm of one of the world's largest pharmaceutical companies is opening its first U.S. office in Kendall Square, pledging to make $130 million in investments to life sciences companies.

"We chose Boston because it is unique," said Martin Heidecker, who will lead the Boehringer Ingelheim Venture Fund, an affiliate of Ingelheim, Germany-based Boehringer Ingelheim, citing the area's renowned universities and established biotech companies.

Heidecker said he will invest in early stage life sciences startups, and expects to give about $13 million to each company to help them grow and develop their technologies.

"We have a long-term perspective," Heidecker said, adding there is no time limit for the fund to be invested.

Although the main goal is to invest in companies that can eventually be acquired by Boehringer Ingelheim, Heidecker said he believes the products he ends up investing in will be difference-makers regardless of his parent company's involvement.

"The products result in solving the medical problems we have in the future," such as cancer, Alzheimer's and dementia, he said.

One of the reasons the Boehringer Ingelheim Venture Fund is different is its penchant for molding companies, Heidecker said.

"This is very hands on, very early" in a company's life, he said.

Although Heidecker will look for companies to invest in around the country, locating the office in Cambridge will naturally mean more investment in the local area, said Peter Abair, director of economic and global affairs for the Massachusetts Biotechnology Council. The average investment in Bay State biotech companies was about $8 million last year, he said.

"We do know venture capital does tend to stay close to where the VC firms can keep an eye on the companies," Abair said.

Heidecker, who has been in Cambridge for a month, said he has already found companies he is interested in backing.

"There will be investments in the near future," he said.


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In Japan, General Motors has high hopes, low sales

TOKYO — General Motors says it's in Japan for the long haul despite sales of Cadillac and Chevrolet models barely surpassing 1,000 vehicles a year.

There has never been much appetite in Japan for left-hand drive gas guzzling U.S. autos, and there are many informal barriers to foreign automakers making it here.

But GM executives see a glimmer of hope in the fact sales of its luxury nameplates have doubled in the past three years.

The automaker is trying to lure Japanese buyers with the new Cadillac CTS and Chevrolet Corvette, which it says boast better quality and mileage.

GM Japan Managing Director Sumito Ishii declined to give a sales target Wednesday, but said part of the Detroit automaker's sales strategy is to approach buyers who may not have preconceptions about GM.

General Motors Co. has also begun to offer models with the steering wheel on the right, which is standard in Japan.

"We have just begun our fight," Ishii told reporters at the Foreign Correspondents Club in Tokyo. "We offer attractive qualities that you can't find in Japanese and European cars."

Ishii and Gregg Sedewitz, director of sales and marketing, said the cars represent American luxury and are synonymous with risk taking, coolness and Hollywood celebrities.

The Cadillac CT comes packed with the latest technology, such as a lightweight structure and a direct injection turbo engine, and sells for 5.99 million yen ($59,900) and 6.99 million yen ($69,900).

The Corvette, which ranges from 9.29 million yen ($92,900) to 11.59 million yen ($115,900) including the convertible models, is the greenest Corvette ever, delivering 12.3 kilometers per liter.

They on sale in Japan from April and May next year.

Japanese consumers have historically favored European imports and home-made cars over American models, including luxury brands.

Annual sales of the Lexus, the luxury offering from Toyota Motor Corp., the world's top automaker, total about 40,000 vehicles in Japan. Annual sales for the BMW are about that same number.

Sedewitz acknowledged there was "no magic bullet" to boost sales volume in Japan.

"The numbers speak for themselves," he said. "We are in it for the long term."

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Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama


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Detroit to get crucial ruling in bankruptcy case

Written By Unknown on Selasa, 03 Desember 2013 | 16.31

DETROIT — A judge was expected to announce Tuesday whether Detroit can come up with a plan to get rid of $18 billion in debt in the largest public bankruptcy in U.S. history, a case that ultimately could crack a shield protecting public pensions and also put the city's extraordinary art collection up for grabs.

Judge Steven Rhodes will declare whether Detroit is eligible to stay in court, more than four months after filing for Chapter 9 protection. It's the most critical decision so far because it could give local officials a green light to scrub the balance sheet and slowly improve the quality of life in a city that has lost more than 1 million residents since 1950.

Rhodes postponed his decision by an hour to give the public more time to get through courthouse security.

"Eligibility means working down a specific checklist and making sure the city has done what it needed to do to be in court. If the city gets its ticket punched, it's game on," said Michael Sweet, a bankruptcy expert who has advised struggling local governments in California.

Rhodes' task at this stage is limited to deciding if Detroit has met certain conditions to be in bankruptcy. A local government must do more than claim it's broke. There must be evidence that Detroit tried to negotiate in "good faith" with creditors or that such talks were simply impossible because of the number of parties and other factors.

During a nine-day trial, unions and pension funds with much to lose in bankruptcy vigorously fought the city on the good-faith requirement, saying a month was not enough time to make deals and avoid the historic filing last summer. Detroit emergency manager Kevyn Orr offered just pennies on every dollar owed to creditors.

If Rhodes finds Detroit isn't eligible for bankruptcy, it likely means the city would have to sit down again with creditors and try to reach an agreement outside of court. If that fails, the city could return and file again for Chapter 9.

But Orr is predicting an "Armageddon-like scenario" if the Chapter 9 petition is rejected Tuesday. He said creditors who have been owed money since July will clog the courts with lawsuits to get anything they can while the city attempts to stay afloat.

"The issue at this point is very narrow. ... I think Detroit will be ruled eligible," Sweet said. "I think the judge will find, given the factors the city and the emergency manager had to deal with, they did the best they could with what they had."

Detroit's largest creditors include two pension funds that are underfunded by $3.5 billion, according to Orr. The Michigan Constitution protects public pensions, but Orr believes bankruptcy law trumps that provision. If the city is found eligible for bankruptcy, pension cuts for 23,000 retirees are possible in the final plan. Most get less than $20,000 a year.

The city's art trove at the Detroit Institute of Arts also could be vulnerable. New York auction house Christie's is working on an appraisal of works that could be worth billions. Orr hasn't signaled a strategy yet, but even creditors are demanding a role in determining whether art could be used to raise money.

Jacqueline Esters, 66, said she's willing to take a hit to her $1,006 monthly pension if it means the city can turn itself around. She retired in 1998 after 30 years with the health department but found another job as a community college teacher.

Esters is concerned about her street. She believes her house might fetch just $30,000 if she put it up for sale, compared to $80,000 a decade ago. Someone broke a window on a vacant home just two doors away, meaning vandals are lurking.

"My idea of bankruptcy is you can start all over again," Esters said. "I don't know how much will happen in the neighborhoods. Until people are held accountable, the city is going to look like a dump."

Orr was appointed emergency manager in March under a Michigan law that allows a governor to send a manager to distressed cities, townships or school districts. A manager has extraordinary powers to reshape local finances without interference from elected officials. But by July, Orr and Gov. Rick Snyder decided bankruptcy was Detroit's best option.

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Follow Ed White at http://twitter.com/edwhiteap .


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Mass. conference explores Internet-based network

BOSTON — Massachusetts officials will host a conference to discuss the transition from a traditional telecommunications network to an Internet-based network in Massachusetts and New England.

The state Department of Telecommunications and Cable will hold the New England Internet Protocol Transition conference Tuesday at Suffolk University Law School.

Issues, developments and controversies associated with the transition are expected to be discussed, including the effects on economic development and consumer protection.

Participants are expected to include: Gregory Bialecki, Mass. Secretary of Housing and Economic Development; Vermont Public Service Board member John Burke; and Cameron Kerry, former general counsel and acting secretary of the U.S. Department of Commerce.


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More Mass. communities join solar energy program

AMHERST, Mass. — Fifteen more communities are participating in the second round of a grassroots solar energy program run by the Amherst-based Massachusetts Clean Energy Center and the state Department of Energy Resources.

Solarize Massachusetts includes solar energy marketing, education and a group-buying program designed to increase adoption of solar energy while reducing the cost. The program started in 2011 offers residents a five-tier pricing program that increases savings as more people sign up.

The new participants are Adams, Amherst, Andover, Bedford, Chesterfield, Egremont, Great Barrington, Lexington, Needham, Salem, Swampscott, Watertown, Wellfleet, Whately and Williamsburg.

In western Massachusetts, Great Barrington will partner with Egremont, and Williamsburg, Whately and Chesterfield will work as a group.

In the greater Boston area, Salem and Swampscott will be partners, and Lexington will partner with Bedford.


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LeSabre shakes and rattles when it’s not on the roll

Written By Unknown on Minggu, 01 Desember 2013 | 16.31

I own a 2005 Buick LeSabre with 65,000 miles on it. It has developed a vibration when stopped at a light with my foot on the brake and the transmission in drive. The vibration can be felt in the floor, brake pedal and steering wheel. Three GM dealers and one independent service agency have worked on the car. All four engine/transmission mounts have been replaced but the car still vibrates. Can you offer any suggestions?

While the engine/transmission mounts are always suspect in a case like this, there are several other possibilities. An engine misfire, roughness or vacuum leak can cause an idle shake. Since the power brake system utilizes engine vacuum for its assist, perhaps vacuum is leaking only when the brakes are applied.

In a safe location such as a large, empty parking lot, bring the car to a stop and keep your foot on the brake.

Then apply the parking brake very firmly. Release the brake pedal — hopefully the car won't move. Does the vibration/shake stop? If so, a vacuum leak is highly suspect.

Another possibility is contact between a driveline component such as the exhaust system and the chassis. A physical inspection might reveal rub marks confirming the contact.

L L L

I have a 2001 Pontiac Grand Prix with front-wheel drive. The two front tires are P205/65-R15 in excellent condition. Several days ago I installed two P205/70-R15 tires in the rear, also in excellent condition. Will the slightly different tire size interfere with handling or fuel mileage? To my untrained eye, maybe this wasn't the best choice.

I agree — putting different-sized tires on the rear of your vehicle wasn't the best idea, but it probably isn't a complete disaster. First off, since the larger tires are on the rear of your front-drive vehicle, there shouldn't be any effect on fuel mileage.

The differences in tread width and rolling diameter between the two are relatively small. The rear tires are eight-10ths of an inch larger in diameter when new, but have the same section/tread width, 8 inches. And since the speedometer read-out is based on driveline and front-wheel speed, there won't be any change in speedometer accuracy.

Handling? That's another issue. But while it's never a good idea to mix tire sizes, since the tire size differences are very small and all four tires are in "excellent" condition, I can't see a huge issue.

L L L

I drive a 2001 Hyundai Elantra with 178,000 miles on it. Over the past couple of years all four wheel bearings have been replaced. The first two only lasted one to two days each. The third, replaced along with the drive axle, lasted until April and the fourth went out in mid-May. The replacement lasted until July. What's going on?

Most manufacturers of front-drive vehicles utilize sealed front hub/bearing assemblies that are not serviceable. Hyundai, on the other hand, used a non-sealed hub with replaceable bearings in that vehicle.

Since the bearings were replaced individually, the quality and source of the bearings and the quality of installation are suspect. If the hub/bearing/knuckle assembly is not set up and installed correctly, bearing life will be dramatically reduced.

In addition, in July 2001 Hyundai began installing front-wheel bearing dust covers to keep road debris and contamination from getting into the bearings. If your vehicle was not fitted with these, the dust covers can be added when the bearings are replaced.

Paul Brand, author of "How to Repair Your Car," is an automotive troubleshooter, driving instructor and former race-car driver. Readers may write to him at: Star Tribune, 425 Portland Ave. S., Minneapolis, Minn., 55488 or via email at paulbrand@startribune.com. Please explain the problem in detail and include a daytime phone number. Because of the volume of mail, we cannot provide personal replies.


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