Los Angeles Times: It’s Time To Focus On Fixing The Affordable Care Act, Not Gutting It Conservatives have married their political fortunes to the notion that Obamacare is a catastrophe and must be discarded in its entirety — even though some of the signature elements of the law, such as a requirement that most people be insured, are ideas that they originated. “There’s plenty of blame to go around for what’s wrong with the law,” said Mark Pauly, a healthcare economist at the University of Pennsylvania’s Wharton School. “What we need now is an informed debate about how it can be made better.” And that’s precisely what we’re not getting (David Lazarus, 7/11).The New York Times: G.O.P. Still Trying To Stop Health Care Reform Just because there is no sign of actual governing arising from Congress, it doesn’t mean that the right-wing dominated House Republican Caucus is just sitting around doing nothing. To the contrary, in addition to plotting the demise of the first real chance at immigration reform in decades, House G.O.P. leaders are thinking of new ways to continue their long-running show of trying to stop health care reform from taking effect (Andrew Rosenthal, 7/11). The Washington Post: The Catholic Health Association V. The Bishops V. Obama Last week, the Obama administration published its final guidelines for contraception coverage by insurers, putting what should be closure on years of back-and-forth debates with the Catholic bishops. … the Catholic Health Association, which represents the country’s largest group of nonprofit health care providers, found the compromises to be considerably accommodating to the religious liberty of religious hospitals, and endorsed the policy this week. Sadly, the predictable answer from Cardinal Dolan and Archbishop Lori, was “not good enough.” Like the tea party faction in Congress, anything Obama is for, these prelates are against. They refuse to accept victory in order to keep fighting with President Obama (Anthony M. Stevens-Arroyo, 7/11). The Wall Street Journal: Connecticut And ObamaCare Connecticut appears to be yet another state that will stumble its way into ObamaCare. It wasn’t supposed to be this way. The Nutmeg State, run by Democratic Gov. Dannel Malloy and a heavily Democratic legislature, was one of the first to sign up to run its own health-care exchange and has received more than $150 million in federal grants to do so. But as the Oct. 1 start date approaches, projections are not cheery. “It’s going to be rocky in this first year,” said Kevin Counihan last month at a board meeting of the Connecticut Health Insurance Exchange. “This is not simple. It’s highly complex. It’s unprecedented, and it’s not going to be smooth” (Harry Graver, 7/11). USA Today: Get Obamacare, While Supplies Last On Oct. 1, the uninsured can start signing up for coverage under ObamaCare. But should every policy be sold with an asterisk: Guaranteed access to care … while supplies last? Maybe. The unpleasant truth is that we don’t have enough doctors to offer quality care to a growing number of Americans, never mind the nearly 30 million uninsured who’ll begin to gain coverage under ObamaCare starting in 2014 (Paul Howard, 7/11). The Baltimore Sun: How Do Liberals Hate NSA Intrusion But Love Obamacare?Self-proclaimed civil libertarians are up in arms over the National Security Agency’s massive database containing information about whom we call and what we do on the Web. Defenders of the program say, “So what?” Unless you’re a terrorist, no one in the government will ever bother to access that information. That’s not good enough, say civil libertarians (Jonah Goldberg, 7/12).Bloomberg: How Republicans Can Exploit ObamacareRepublicans have responded to the delay of an important component of President Barack Obama’s health-care reform by escalating their attacks. Here’s a suggestion: Instead of trying to wreck the law, focus on using it to prove the superiority of conservative principles (7/11).JAMA: Are Officials Who Predict Health Reform Doom And Gloom Sowing A Self-Fulfilling Prophesy?As 2014 approaches, the health policy community is focused on implementation of the Affordable Care Act’s (ACA’s) main coverage provisions: the opening of health insurance exchanges, related reforms of the individual market, and the Medicaid expansion that states can choose to adopt or reject. … Although all these questions are important, politics may play a particularly significant role in state cooperation, which, itself, has implications for some of the other issues (Austin Frakt, 7/11).And, in opinions on other subjects –The New York Times: My Life, Post Exposure I grew up in a Modern Orthodox Jewish family in New Jersey, where my “sex talk,” at 13, came in the form of my mother handing me a book of anatomical comics. Inside it, she placed post-it notes to indicate her feelings. In the masturbation section: “God does not approve of this.” In the gay sex section: “Definitely not.” When I came out at 18, I had to learn everything on my own. Last year, as a 21-year-old college student, I got my hardest lesson (Isaac Lobel, 7/11). The Washington Post: An AIDS-Free Generation Is Closer Than We Might Think Because of the extraordinary progress in the fight against HIV/AIDS, we can now consider a question that just a few years ago seemed far-fetched. No longer is it whether we can achieve an AIDS-free generation. Now, the question is: How long will it take and will it be sustained? Vaccines historically have played an important role in the control and even elimination of global health scourges such as smallpox, polio and measles. So two important questions regarding an AIDS-free generation are: Is an HIV vaccine needed to reach this goal, and if so, what role will it play? (Anthony S. Fauci, 7/11).USA Today: Beware Of Self-Help Gurus Nationally known self-help guru James Arthur Ray is scheduled to be released Friday after serving 20 months in prison for the deaths of three people during a 2009 sweat-lodge ceremony he conducted as the surprise culmination of his “Spiritual Warrior” inspirational retreat. All signs suggest Ray will attempt to rebuild his motivational videos, books and seminar business. But unlike Martha Stewart’s post-prison rebranding through benign recipes, Ray’s return to lead workshops on “harmonic wealth,” “practical mysticism” and other “life-altering experiences” underscores the need for people to ask questions, do their research and take caution when choosing a self-improvement program (Christine B. Whelan, 7/11). Bloomberg: Americans Die Younger Than Europeans. They Don’t Need ToIf you wanted to pick a single metric to judge the success of a country, one measure that both conservatives and liberals could agree on, life expectancy may be your best bet. On that metric, the U.S., which spends more on health care than any other developed country, is doing terribly. A new study in the Journal of the American Medical Association shows just how badly (Flavelle, 7/11). Viewpoints: GOP Should Focus On Fixing Health Law; Bishops Refuse To Accept Victory This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
Los Angeles Times: Obamacare: Silence Of The Insurers When will the insurers revolt? It’s a question that’s popping up more and more. On the surface, the question answers itself. We’re talking about pinstriped insurance company executives, not Hell’s Angels. One doesn’t want to paint with too broad a brush, but if you were going to guess which vocations lend themselves least to revolutionary zeal, the actuary sciences rank slightly behind embalmers (Jonah Goldberg, 12/17). The Washington Post’s Plum Line: Morning Plum: Insurance Industry Bets On Obamacare. GOP Bets On Failure. The Wall Street Journal reports that insurance companies are set to unleash hundreds of millions of dollars in advertising to entice potential customers on to the exchanges created by Obamacare. … All this is a reminder of just how much of a stake the industry has in the law’s success, and how much it is willing to spend to try to make that happen. What’s striking is that this comes even as the absolute certainty among Republicans that the law cannot do anything other than fail spectacularly — indeed, that this has already happened — has only hardened (Greg Sargent, 12/16). The New York Times’ The Conscience Of A Liberal: The Big Money Bets On Obamacare As Greg Sargent has been pointing out for some time, the startup troubles of Obamacare have divided both the general public and the political class into two different intellectual universes. On one side, Republicans — both the base and the political leadership — have decided that health reform is already a failure; that conviction is actually helping the leadership rein in some of the crazies, by telling them that now is the time to wait and let the political payoff from Obamacare’s collapse fall into their laps. On the other side, Democrats see a law that got off to a terrible start but is getting rapidly better (Paul Krugman, 12/16). Los Angeles Times: Employers Cut Health Coverage, Find Scapegoat: Obamacare If there’s been one inexorable trend coming out of the HR departments of major employers, it’s been the steady erosion of worker pay and benefits. Razor-thin raises, defined benefit pensions replaced by 401(k) plans, shrinking healthcare–if you’ve been on a big company’s payroll, you know the drill. Expect the trend to continue or even pick up steam, because employers have an ideal scapegoat right now: the Affordable Care Act. It looks like the blame-Obamacare game is having some effect. According to an AP poll released over the weekend, three-quarters of those with private or employer-based insurance think the Affordable Care Act is the reason for changes in their health coverage for 2014 (Michael Hiltzik, 12/16). The New York Times: What The New Health Insurance Law Means For My Workers In America, I told my workers, health insurance pays for three kinds of care: routine, chronic and catastrophic. Under the old system, my company bought a single policy and used it to pay for all three. And as a business owner, I got to choose whatever policy I thought was best but without good information about the various plans that were available. … I also had no idea what our premiums might be from year to year. The insurance companies could jack our rates up or down for any number of reasons without explanation — although it appeared that if someone in the company got sick, we could expect a large increase in premiums the next year. So we always had that hanging over our heads. Now, the Affordable Care Act has removed that risk (Paul Downs, 12/16).The Fiscal Times: Why The GOP Shouldn’t Count On An Obamacare CollapseThe disastrous rollout of the HealthCare.gov website has so far kept enrollment well below the levels the Obama administration had sought. Yet as the administration works to fix the numerous technological problems that have plagued the site (it now says that the error rates with the problematic “834 transactions” that transmit enrollment data to insurers have been close to zero since the beginning of December), HealthCare.gov will be getting some outside help in trying to lure consumers to sign up for insurance plans (Yuval Rosenberg, 12/16). The Washington Post’s The Monkey Cage: Five Myths About The Future Of Obamacare Both liberals and conservatives believe they are seeing the light at the end of the tunnel with the Affordable Care Act. With the HealthCare.gov Web site running more smoothly, liberals are confident that Obamacare will soon be entrenched. Just as Republicans in the 1950s came to accept Social Security to avoid electoral defeats, ACA supporters insist that conservatives are courting political disaster if they continue to oppose the law. Republicans have a different perspective. They point to millions of cancelled insurance policies, ongoing enrollment problems, and repeated implementation delays as signs that the law is on the brink of collapse. The ACA remains fundamentally flawed, they claim, and all these Band-Aid improvements will never repair a program that was defective from the start. But what do we really know about the dynamics of “policy entrenchment”— that is, whether programs survive after Congress creates them? (Eric Patashnik and Julian Zelizer, 12/16). The Washington Post: Auto Bailout Could Be Harbinger For Obamacare When will the criticism of Obamacare finally end? I’ve done some research on the question, and by my calculations, judging from current trends, this will happen approximately . . . never (Dana Milbank, 12/16).Bloomberg: Make Obamacare Cool, Or Make It HurtInstead of outreach programs and sappy TV ads with parents imploring their kids to sign up for Obamacare, President Barack Obama needs to start thinking creatively if he wants his signature legislative achievement to be a success. What motivates kids? In fact, what motivates any of us? Incentives (Caroline Baum, 12/16).Fox News: Is President Obama ‘Too Big To Jail?’A Chinese proverb says, “May you live in interesting times.” We certainly do. Historians will look back on this time as “the Obama criminal years.” How lawless is the Obama administration? Many of the dirty deeds and scandals of Obama & Co. are public knowledge. Let’s start with the most astonishing. Many citizens are aware that because of ObamaCare, millions of Americans are losing their health care coverage. Is this incompetence, or criminal fraud? (Wayne Allyn Root, 12/16). Fox News: The Impossible Trinity Of ObamaCareThe problem with ObamaCare is not that it is poorly designed or sloppily implemented. The problem is in the nature of things: The Patient Protection and Affordable Care Act, as it has been envisaged, is inherently impossible. To see this, forget ObamaCare for the moment. Think health care in general (Michael S. Bernstam, 12/16). And on other issues -Los Angeles Times: Federal Budget Peace In Our Time? Not For Long. It’s hard to see a happy ending to this drama. For Republicans, the debt limit provides a rare opportunity to force changes in entitlement programs that spend ever-increasing amounts on autopilot. The GOP’s solutions typically involve shifting more of the cost of those programs onto beneficiaries, or narrowing eligibility and trimming benefits. Democrats, who are loath to cut benefits or reduce eligibility, say they’ll curb entitlements only as part of a package that also ends tax breaks for corporations and higher-income Americans. But while [Rep. Paul] Ryan and his colleagues are willing to extract higher fees for government services, raising tax revenue is a nonstarter. Even Democrats have to concede that health-related entitlements (most notably Medicare and Medicaid) are the biggest threats to the federal government’s fiscal health over the long term (Jon Healey, 12/16). USA Today: Ensure That Genetic Tests Are Accurate: Our View Opening the door to genetic testing and its potential health benefits to anyone with $99 and the desire to spit into a test tube is an exciting prospect. But only if the tests are accurate, the interpretations meaningful, and the results understandable to the average consumer (12/16). USA Today: FDA Oversteps On Genetic Testing: Opposing View The FDA worries that giving Americans more information about their own genomes might lead some to get too much medical care — or not enough. … But are Americans really so foolish with their own health? The FDA can’t cite a single example of someone actually being hurt because of 23andMe. Indeed, 23andMe has peer-reviewed research showing that its customers are no more likely to over- or under-estimate their risks (Berin Szoka, 12/16). Viewpoints: All Eyes On Insurers; An Employer’s Perspective On Health Law; Budget Peace May Not Last Long This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
The bipartisan House bill to repeal the flawed Medicare physician payment formula includes an unlikely point of GOP agreement: billions of dollars to the community health centers that do some of the heaviest lifting in Obamacare enrollment. (Norman, 3/26) Medicare Pay Fix Bill Includes Higher Costs For Some Seniors The measure includes a number of other provisions beyond its two big ticket items — the repeal of Medicare’s sustainable growth rate formula to pay doctors and the extension of the Children’s Health Insurance Program. Medicare recipients with income over $85,000 would begin paying higher Part B premiums in 2018 under legislation passed by the House Thursday to avert a cut in physician reimbursements. (Tumulty, 3/26) Marketplace: Challenges Remain, Even After The ‘Doc Fix’ Gets Fixed USA Today: Higher Medicare Costs Planned For Some Seniors In 2018 Another key provision would pay doctors more for high-quality care rather than the volume of care. Everybody loves that, says Harvard’s Dr. Ashish Jha. The trouble is it’s very hard to measure “quality.” “We are going to focus on paying doctors for a lot of things. Some of which probably represent real quality and some of which clearly represent checking the box,” he says. (Gorenstein, 3/26) Politico Pro: SGR Bill Has Billions For Health Centers — And ACA Sign-Up This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
Image credit: via PC Mag 2 min read –shares Learn how to successfully navigate family business dynamics and build businesses that excel. Add to Queue July 11, 2019 Eavesdropping Bug Forces Apple to Disable Walkie-Talkie App Free Webinar | July 31: Secrets to Running a Successful Family Business Apple has been forced to disable its Walkie-Talkie app after a vulnerability was discovered that allowed someone to listen in on your iPhone ($749.99 at Verizon Wireless) without consent.The Walkie-Talkie app was introduced with the roll out of WatchOS 5 last September and allowed FaceTime Audio calls to be carried out in a similar way to talking on a walkie-talkie. However, as TechCrunch reports, even though the app is still present on the Apple Watch, no call will go through if you try and use it today.Apple was made aware of the vulnerability through its security and privacy support page where reports can be filed. The company isued the following statement to TechCrunch regarding what’s happened:We were just made aware of a vulnerability related to the Walkie-Talkie app on the Apple Watch and have disabled the function as we quickly fix the issue. We apologize to our customers for the inconvenience and will restore the functionality as soon as possible. Although we are not aware of any use of the vulnerability against a customer and specific conditions and sequences of events are required to exploit it, we take the security and privacy of our customers extremely seriously. We concluded that disabling the app was the right course of action as this bug could allow someone to listen through another customer’s iPhone without consent. We apologize again for this issue and the inconvenience.Although only a minor inconvenience for Apple Watch ($399.00 at Walmart) owners, Apple will be keen to close the security hole and allow the Walkie-Talkie app to work again. Back in January, a teenager discovered he could hear the audio from his friends’ devices as he added them to a FaceTime group chat. Just like this latest vulnerability, it was possible to listen in without consent. Apple rolled out a fix a few weeks later, but we were all left wondering how secure iOS is. On today’s evidence, there’s still some holes. Privacy Concerns Matthew Humphries Next Article Senior Editor The app contained a vulnerability allowing someone to listen in on your iPhone without consent. This story originally appeared on PCMag Register Now »
More Peter J Thompson/National Post In responses filed in court, RBC denies that its employees knew about Kurgan’s entanglement with Lake Shore when he was hired. Even if they had, the bank says, they were not aware of the full extent of his involvement with the firm or with Baker.Royal Bank says it first learned of Kurgan’s connection to Lake Shore and Baker when he advised his superiors at the bank in early August, 2017, that a reporter had contacted him and was working on a story about Baker and his release from prison and return to Canada, according to court documents.RBC’s review turned up ‘a number of concerns that had not been adequately addressed’ by Kurgan John Kurgan is seeking more than $5 million for wrongful dismissal and other damages, according to court documents.Peter J Thompson/National Post Share this story’Reputation risk:’ Former RBC trader alleges he was fired on the word of a ‘convicted fraudster’ Tumblr Pinterest Google+ LinkedIn Twitter “I helped them with whatever I could, and what I couldn’t, I couldn’t,” Kurgan said in an interview, recalling a discussion with U.S. authorities that took place in 2008. “When I came out of that meeting at the end, everybody thanked me, shook my hand, (and said) thanks for helping us, assisting us.”“There was never a hint of culpability on John’s part,” added his lawyer Michael Meredith.More importantly, Kurgan contends that officials at RBC were aware of his association with troubled Lake Shore more than seven years ago when he was being recruited — long before the two stories featuring Baker and his tale of disgrace were published in late 2017. In court filings, he also alleged that key players at the bank were aware of a previous attempt to “implicate” him in Lake Shore’s collapse, prior to his hiring at RBC Dominion Securities. The curious case of a disgraced ex-hedge fund manager and the trader he says was his partner Donald ex machina: The strange role of a mogul-turned-President in the ongoing saga of Conrad Black The return of Boaz Manor: Co-founder of failed hedge fund Portus turns up at U.S. blockchain startup under new identity The allegations, which have not been proven in court, are at the heart of the wrongful dismissal suit, which heads into mediation on Monday after working its way through the courts since early last year. Kurgan is seeking more than $5 million for wrongful dismissal and other damages, according to court documents, claiming the termination “effectively ruined (his) ability to ever work in the industry again” and “wrongly and unfairly telegraphed to both clients and prospective employers … that Baker’s allegations have credence.”RBC denies that its employees knew about Kurgan’s entanglement with Lake Shore when he was hired What set the wheels in motion for his dismissal, court documents allege, were reports in the Financial Post and The New York Times about Philip Baker, Kurgan’s former friend, who had returned to Toronto after serving a portion of a 20-year prison sentence in the United States for fraud. Baker had given a series of interviews about his fall from grace as head of Chicago-based Lake Shore Group of Companies.He named Kurgan — who was never implicated in Baker’s crimes — as a business partner in an operation that, at its peak, stretched to London, Turks and Caicos and the British Virgin Islands.Toronto-born Philip Baker pleaded guilty in 2011 to defrauding investors while running a global commodities trading and hedge fund business. Join the conversation → 1 Comments Comment In his court filings, Kurgan says the bank appears to have taken “illegitimate documents Baker produced during the receivership” at face value, rather than conducting a fair and objective review.“RBC DS ought to have provided Kurgan the opportunity to respond to any alleged concerns it may have had before purporting to end its employment relationship with him on the basis of the allegations of a convicted fraudster,” he says in an April filing.Instead, Kurgan alleges in the court documents, RBC tried to “bully” him into “leaving the firm quietly” and when he refused their offer to buy his book of business for far less than he thought it was worth, he was terminated on Feb. 8, 2018.Neither Kurgan’s allegations nor the bank’s responses and counter-allegations have been tested in court, and RBC said in an emailed statement Thursday that it could not comment on questions posed by the Financial Post while the matter is before the courts.“We are unable to comment on pending litigation,” Louise Armstrong, a spokesperson for RBC, said.———–Long before media reports revisited the collapse of Lake Shore, the tale of Baker’s downfall was documented in real time by media outlets and wire services including Reuters, Bloomberg and the Chicago Tribune. Those stories — dating back to 2007 — chronicled allegations that Baker hid millions of dollars in trading losses, embezzled funds, and misled hundreds of investors. They do not mention Kurgan.Baker and Kurgan agree that they met while both were working at Refco in Toronto in the 1990s, and that Kurgan did some trading for Lake Shore, the commodities trading and hedge fund business that landed Baker in the sights of authorities in the United States, first as a fugitive in Germany, and then in U.S. prisons including the notorious Fort Dix in New Jersey.Baker was the only person charged in the Lake Shore debacle ‘Reputation risk:’ Former RBC trader alleges he was fired on the word of a ‘convicted fraudster’ Years after the collapse of disgraced hedge fund Lake Shore Group, the effects continue to ripple through Bay Street Barbara Shecter Featured Stories Kurgan, a mild-mannered 61-year-old, vehemently denies that he was a partner and has never been sanctioned or charged. He doesn’t deny knowing Baker and doing some trading for a Lake Shore account for commissions, but points out that during the time Lake Shore operated, from 2002 to 2007, he was employed at Toronto-based trading firms Refco Futures Canada Inc. and MF Global Canada Co. In legal filings and interviews with the Financial Post, alongside his lawyer, Kurgan said that he cooperated with authorities looking into the wrongdoing at Lake Shore, including the Federal Bureau of Investigations and the U.S. Commodities Futures Trading Commission.There was never a hint of culpability on John’s partJohn Kurgan’s lawyer Michael Meredith Reddit However, their versions of the depth of Kurgan’s association with Lake Shore and other ways in which their lives intersected could not be more different.While Baker claims they were partners and that Kurgan was the head trader at Lake Shore, Kurgan maintains he was just helping a friend who was down on his luck by signing a few documents and doing limited trading for commissions.“I’m just kind of keeping track of the trades I’m doing. There’s other traders,” Kurgan said of his time working with Lake Shore more than a decade ago. “I didn’t co-found this company. I didn’t own this company. I worked … for Refco, I worked for MF Global, I worked for RBC. I didn’t work for this company.”Baker was the only person charged in the Lake Shore debacle.Facing criminal charges including fraud, embezzlement, and obstruction of justice, Baker was extradited to the United States from Germany, where he had been living. He pleaded guilty to a single count of mail fraud in 2011, admitting to falsifying Lake Shore’s marketing materials to cover up large trading losses. The same year, Kurgan was recruited and hired by RBC Dominion Securities, the wealth management arm of Canada’s largest bank.RBC came knocking when one of the Canadian firms Kurgan was working for — MF Global — ran into problems completely unrelated to Baker and Lake Shore. RBC sought to hire Kurgan and obtain his client list, according to the documents filed in his wrongful dismissal suit.Kurgan’s court filings recount a recruitment process that involved a handful of meetings and discussions with RBC employees. The documents outline one meeting, during which a Lake Shore proceeding Kurgan was involved in was specifically discussed with Paul Sinel, described as an assistant manager at RBC Dominion. However, his LinkedIn page says he is now retired.The discussion took place outside the Library Bar at the Fairmont Royal York hotel in Toronto, according to Kurgan’s filing, and the topic was a motion Lake Shore’s receiver had made to add FTG Capital Canada to Lake Shore’s receivership proceeding. FTG was a company that had been incorporated by Kurgan in the 1990s.“Kurgan advised Sinel that that he had retained legal counsel to respond to the motion and that the motion to add FTG had been dismissed,” the document says. “Kurgan further advised Sinel that he would be happy to discuss this further with RBC DS and to answer any questions they might have with respect to the Lake Shore proceedings. No one at RBC DS took Kurgan up on his offer.”The court filing notes that the receiver’s report, published in April of 2011, “was and remains accessible to the public” and “was accessible at the time RBC DS recruited Kurgan to the firm” that fall.In his lawsuit, Kurgan says James McElrea, a commodities trader at RBC, was also aware of his involvement with Lake Shore, and had spoken about it with George Corneil, who the document describes as the vice-president of futures at RBC.“Corneil assured McElrea that the matter was closed,” according to Kurgan’s filings, which add that the bank “did not have any concerns about Kurgan’s involvement at that time, and was content to have Kurgan join the firm to obtain his book of business.”However, in a court document filed in response, RBC strenuously denied that its officials were aware of Kurgan’s ties to Lake Shore.“Corneil never made such an admission to McElrea” and was not aware of Kurgan’s “association with Lake Shore or Baker,” one of the documents states.If he did disclose his association with Lake Shore, “which is not admitted but specifically denied, such disclosure, or any related discussions, did not involve the irregularities … including the plaintiff’s (Kurgan) involvement with Lake Shore and/or … with Baker,” adds a document filed in April, 2018.Despite its concerns about the Lake Shore matter after the fresh media reports following Baker’s return to Toronto, RBC says it tried, before Kurgan’s dismissal, to negotiate his exit in early 2018 through its business succession program. The program is described as a financial industry framework that effectively transfers the management of clients from one advisor to another at the bank.But as the two sides dug in, the drama intensified. After Kurgan was dismissed without cause, the bank’s court filings say, RBC discovered that confidential information had been “improperly transferred” to Kurgan’s personal unsecured email without the bank’s permission.That discovery a month after his dismissal gave the bank justification for “summarily dismissing” Kurgan with cause, the documents say.The bank demanded that the confidential information be returned or destroyed, and made a counterclaim against Kurgan for the return of $235,967.82 it says was “improperly” paid to him in termination pay and severance.Kurgan countered in his court filings, saying that the information was contained in an email was sent to him “without his knowledge, consent or direction.” And he added his own salvo, accusing RBC of deploying “harsh” and “malicious” tactics and suggesting the bank may have been motivated by a desire “to prevent any further press highlighting its own involvement in the Lake Shore proceedings.”Royal Bank had money tied up in the now-defunct firm, which came to light during Lake Shore’s bankruptcy proceedings ← Previous Next → Recommended For YouTILT Holdings Announces U.S. $125 Million Convertible Note FinancingMDA, a Maxar Company, Announces Successful Launch of Canada’s RADARSAT Constellation MissionKinder Morgan Declares $0.25 Per Share Dividend and Announces Results for Second Quarter of 2019Canadians lose trust in Facebook as it battles privacy watchdogsAlternative lenders gain ground as mortgage originations slow: CMHC advertisement Facebook As originally reported in the Financial Post, Royal Bank had money tied up in the now-defunct firm, which came to light during Lake Shore’s bankruptcy proceedings in the United States in 2010. A document filed in an Illinois court that year contained a submission from Royal Bank, which was among those asserting claims on Lake Shore’s remaining funds. The Canadian bank weighed in on how available Lake Shore funds should be distributed about those with claims to them.The document did not say how much money Royal Bank believed it was entitled to in the Lake Shore proceedings, but it indicated the bank was part of a group fighting for about $13 million of a $100 million pool of money that had been frozen by authorities.In a statement to the Financial Post in 2017, Royal Bank said the bank “had a very small number of investors who (had) requested exposure to the fund.” The bank’s spokesperson at the time added that Lake Shore funds were never on any list of recommended investments for clients in Royal Bank’s retail channel.In court documents filed last year in response to Kurgan’s wrongful dismissal suit, RBC “specifically denies” that he was terminated due to concerns about exposure of its own involvement in Lake Shore.It’s not clear if Monday’s private mediation will be the final chapter Email For more than six years, John Kurgan worked as a specialist in commodities and futures trading at Canada’s biggest bank. He became a senior vice-president at Royal Bank of Canada’s wealth management unit, where he was the top commodities trader in 2016 and took in more than $3.2 million in revenue for the bank. He was rewarded for his work with offers of trips to Mexico, California, and Miami Beach.All that changed in late January last year, when Kurgan says he was called into a meeting with two of his superiors and told “it would be best if he voluntarily retired.” The meeting is described in documents he filed in a wrongful dismissal suit against the bank in Ontario’s Superior Court of Justice in February last year.Kurgan was told that a decade-old entanglement with a disgraced hedge fund manager in the United States, a one-time friend, had become a “reputation risk” for the bank, according to court documents.John Kurgan was RBC’s top commodities trader in 2016 and took in more than $3.2 million in revenue for the bank What you need to know about passing the family cottage to the next generation Aaron Vincent Elkaim/The New York Times May 24, 20191:52 PM EDT Filed under News FP Street Sponsored By: RBC clients who had exposure to Lake Shore “had requested such exposure,” the bank said. “As part of the bankruptcy proceeding involving Lake Shore, Royal Bank of Canada sought a distribution of the receivership assets on behalf of its clients that had sustained losses.”It’s been years since Lake Shore was wound down, but the ripples flowing from the firm’s existence will be felt Monday in the private mediation scheduled for Kurgan’s wrongful dismissal suit. It’s not clear if that process will be the final chapter.“Mr. Kurgan hopes that the parties will reach a reasonable and fair resolution on Monday,” Meredith, his lawyer, said Thursday. “But if not, he is fully resolved to carrying the matter through to trial and looks forward to obtaining a just result.”• Email: email@example.com | Twitter: In a statement of defence and counterclaim to Kurgan’s wrongful dismissal suit, RBC said it conducted an initial review of Lake Shore, Baker, and Kurgan’s alleged involvement after the newspaper stories were published, between November 23, 2017, and Jan. 25, 2018.That review turned up “a number of concerns that had not been adequately addressed” by Kurgan, including a business agreement he had signed with Baker in 2001, his association with a Lake Shore company called FTG, and what the bank called inconsistencies in responses he gave to a Canadian regulator, court documents say. As a result, the bank told the court it decided to “forego any further review of this matter” and “looked to end the employment relationship with the plaintiff (Kurgan).”For his part, Kurgan says he wasn’t given the opportunity to respond to any of the alleged concerns, even though he offered on “multiple occasions” to meet with RBC, and to bring in Meredith, his long-time lawyer, according to filings in his wrongful dismissal suit.The RBC Plaza which headquarters the Royal Bank of Canada in Toronto.
Sponsored By: Motor vehicle production fell 8.9 per cent, mostly due to “temporary plant shutdowns and fewer units assembled,” according to Statistics Canada.Aaron Lynett / National Post advertisement June 18, 20191:24 PM EDT Filed under News Economy More Twitter What you need to know about passing the family cottage to the next generation Drop in auto production leads surprise decline in Canada’s factory output Motor vehicle production fell 8.9% 0 Comments Email ← Previous Next → Bloomberg News Recommended For YouGrounded Boeing Max fleet tightens airline capacity, drives Canadian airfare prices higherUPDATE 1-European car lobby cuts 2019 sales forecast to 1% fallLatest Netflix price increase costs it plenty of customers just as it faces competitive futureApotex among 20 generic drug firms accused of vast U.S. price-fixing schemeOSC complaint, class-action lawsuits could add to CannTrust’s woes Factory production unexpectedly fell in Canada on a temporary slowdown in the auto sector.Manufacturing sales fell 0.6% in April, Statistics Canada said Thursday from Ottawa. Economists surveyed by Bloomberg were expecting factory output to increase 0.4 per cent.The pullback follows a revised 2.6 per cent gain in March, which was the largest since the end of 2017. In volume terms, sales fell 0.8 per cent.Slowing output in the transportation sector was the primary drag, declining 6.7 per cent. Motor vehicle production fell 8.9 per cent, mostly due to “temporary plant shutdowns and fewer units assembled,” according to Statistics Canada.The nation’s economy is emerging from two quarters of stagnant growth, but Tuesday’s report may shake confidence in a quick return to form. The Bank of Canada, which has indicated interest rates are on hold even as the Federal Reserve weighs a cut, expects output to pick up in the second half of this year.April’s sales drop, however, was somewhat isolated. Output fell in just 8 of 21 industries, and excluding the auto sector factory production rose 0.5 per cent. Inventories increased 1.3 per cent, led by petroleum and coal, bringing the inventory to sales ratio to 1.53 — the highest since 2009.Bloomberg.com Facebook Erik Hertzberg Comment Reddit Share this storyDrop in auto production leads surprise decline in Canada’s factory output Tumblr Pinterest Google+ LinkedIn Join the conversation → Featured Stories
The UK government announced several changes today to its Plug-In Car Grant program. They are essentially ending incentives for plug-in hybrid vehicles and they are reducing the incentive for all-electric vehicles. more…The post UK ends PHEV incentive and reduces all-electric vehicle incentive, says it worked too well appeared first on Electrek. Source: Charge Forward
Support for EVs on Capitol Hill does not divide neatly along partisan lines, as a pair of dueling bills in the Senate illustrates. This week, Senator Dean Heller (R-Nevada) proposed legislation that would lift the current cap on EV tax credits.Under current law, once a particular automaker sells 200,000 EVs, the tax credit will begin to be phased out starting in the following quarter. Tesla passed the 200,000 vehicle milestone in July, and GM expects to hit the threshold by the end of this year.This arrangement has two perverse effects: in Tesla’s case, it means buyers of the company’s earlier, more expensive vehicles got the tax credit, while buyers of the yet-to-be-delivered base Model 3, who arguably need the incentive more, will not be eligible. Secondly, it means that automakers that delayed their EV programs will now have a competitive advantage over the two companies that took a risk and got into the market early.Senator Heller’s bill would lift the cap on sales by individual manufacturers, but would phase out the credit for the entire industry in 2022.Meanwhile, Senator John Barrasso (R-Wyoming), who chairs the Senate Environment and Public Works Committee, wants the government to move in the opposite direction. He recently proposed legislation to end the EV tax credit entirely and impose a new federal tax on EVs.Senate Democrats are opposed to Barasso’s bill. “Repealing a policy that helps combat climate change is the absolute wrong decision,” said Senator Ron Wyden. Last month, seven Democratic senators introduced legislation that would lift the cap, extend the tax credit for 10 years, and allow buyers to use the credit as a point-of-sale rebate. Source: Electric Vehicles Magazine Source: Reuters
Jaguar Enters Electric Motorcycle Biz With Arc Vector Mad Max Motorcycle Road Rage Captured On TeslaCam More E-Bikes Energica Unveils Stunning Bolid-E Electric Motorcycle Prototype Author Liberty Access TechnologiesPosted on December 16, 2018Categories Electric Vehicle News Motorcycles have long taken the backseat in terms of safety features. Partly because technology can be tricky to adapt to the reality of traveling on two wheels, partly because there is a bit of a purist approach riders tend to take with motorcycles. This hasn’t kept some companies from pushing the boundaries and work on adapting modern features found on other vehicles for bikes. Blind spot detection, rearview cameras, lane change assists: these are all terms that are becoming increasingly popular in the motorcycle industry.Energica has not plan of being left behind when the tech trend hits and is working on its own lane change assist system. The project is called E2R and is being developed in partnership with the German University of Applied Sciences, “Hochschule für Technik und Wirtschaft des Saarlandes”.The technology will use a camera system that will scan the motorcycle’s blind spot, monitor distances from vehicles at the front and at the back and “assist” the rider in his decision-making (though Energica hasn’t revealed yet what shape and form the warnings and assistance will take).“For us, safety is one of the most important topics while riding a motorcycle. That is why we are developing innovative sensor systems for motorcycles in Saarbrücken. We are glad to have such an innovative and powerful partner like Energica for this challenge,” commented the University’s E2R team.While the company specializes in electric motorcycles, a system like this could easily be adapted to any two-wheel vehicle. Looks like there’s a new runner in the race to the ultimate motorcycle safety system. Energica is joining the race for the ultimate bike safety system.Italian electric motorcycle maker Energica is best known for its sexy e-sportsbike designs and its domination as the provider of saddles in the all-new MotoE spec series. The word “technology” has no secret for the manufacturer and it’s about to take things a step further. Like other, bigger companies before, Energica is now looking into safety matters and is teaming up with a German university to help make things happen. Source: Electric Vehicle News
Source: Electric Vehicles Magazine By Matt Frommer – Transportation Program Senior Associate at the Southwest Energy Efficiency Project (SWEEP) This article appeared in Charged Issue 40 – November/December 2018 – Subscribe now. Imagine that you just bought a new condo and, since you care about saving the planet while saving yourself money, you’re also thinking about buying a new EV. You check your new parking lot for an electrical outlet, only to find that there isn’t one. With persistence, you ask the property owner about installing an EV charging station in the parking lot for communal use, but after reviewing the building plans together, you discover that the property does not have the electrical capacity and pre-wiring infrastructure (such as conduit) to support an easy and low-cost installation. You’re concerned that without access to home charging, you won’t have a place to charge your new EV, and so you surrender and buy another gas-powered car. This scenario is one of the major challenges for many consumers thinking about buying an EV, but it is solvable, and has been overcome by several communities across the Southwest with EV-ready building codes.What are EV-ready building codes?EV-ready building codes are one of the most effective and low-cost strategies for states and local governments to encourage consumers to buy or lease electric vehicles. At their most basic, the codes establish EV infrastructure requirements for new construction projects, including the electrical capacity and pre-wiring to make possible the future installation of EV charging stations. States and municipalities around the country have developed their own EV-ready building codes to accommodate local EV market trends and to meet community-specific climate goals.Why do we need EV-ready building codes?The US plug-in vehicle market is accelerating rapidly – it has had 52 straight months of year-over-year sales growth. Over the first nine months of 2018, the EV market grew 70 percent compared to the same period in 2017. Encouraged by these trends, Colorado Governor John Hickenlooper announced plans to encourage growth in the state’s already booming EV market, and some estimate the state could have nearly a million EVs on the road by 2030. Every governor in the Southwest has signed the REV West MOU, which commits the state to a number of actions including “identify[ing] and develop[ing] opportunities to incorporate EV charging station infrastructure into planning and development processes, such as building codes, metering policies, and renewable energy generation projects.”To support the monumental transition from gas-powered to electric vehicles, communities across the Southwest will have to install millions of charging stations in both the private and public domains.Approximately half of all vehicles in the US belong to residents of single-family or duplex homes with access to dedicated off-street parking spaces, such as a garage or driveway, which could be used for overnight charging. These new homes are built to last for decades, so they should be ready to accommodate emerging technologies, including the capacity to charge EVs.The other half of vehicles today do not have reliable access to a dedicated off-street parking space at an owned residence, so the EV market needs to move beyond single-family detached homes and expand charging access to multi-family dwellings, workplaces and commercial properties. EV-ready building codes support this expansion, and can save consumers thousands in installation costs.Studies have shown that charging infrastructure is significantly less expensive to install during new construction than it is to retrofit to an existing building. For a parking lot with 10 total spaces and two charging stations, the estimated EV infrastructure costs amount to $920 per charger during new construction, versus $3,710 per charger for a retrofit, largely because of trenching, demolition, and additional permitting costs.What are the EV-ready code options?State and local governments around the country have led the way on EV-ready building codes, with requirements that have been adapted to best fit the needs of each community. Three basic options for EV infrastructure requirements are detailed below.For one- and two-family dwellings with dedicated off-street parking, EV-capable or EVSE-ready outlet provisions are required for at least one parking space per residence. For multi-family dwellings and commercial properties, EV infrastructure requirements are applied as a percentage of total parking spaces (e.g. 5 percent of total parking spaces are to be EV-capable for parking lots with over 10 parking spaces).Where do EV-ready measures belong in the building code?EV-ready code language is often introduced as a part of the municipal building code amendment process, which typically takes place every three to six years. The International Residential Code (IRC) applies to new one- and two-family residential projects with access to an off-street parking space in a garage or driveway. The majority of IRC EV-ready building code amendments call for EV-capable infrastructure, but some jurisdictions, such as Boulder County, Colorado, have chosen to require an EVSE-ready outlet.New multi-family residential and commercial construction projects must comply with the most current version of the International Building Code (IBC). These code requirements typically apply an EV-capable percentage to the total number of parking spaces. The more progressive IBC amendments, such as the one in Palo Alto, California, require 5 percent of new parking spaces to have an installed Level 2 EV charging station.An alternative to the building code amendment process is to pass an ordinance, which can be proposed at any time and considered for approval by a city council or county commissioners. Whereas building codes define the technical details for new construction projects, ordinances govern the use of property by land use and occupancy type. With an EV-ready ordinance, municipalities can vary the percentage of EV-charging spaces by type of occupancy (business, hotel, hospital, golf course, etc).List of municipalities and states with EV-ready building codesA number of states, municipalities, and community improvement districts in the Southwest and across the country have introduced EV-ready building codes for new construction over the last decade, including Denver, Boulder, Boulder County, and Aspen in Colorado. To help make sense of existing codes and simplify the options for your community, SWEEP has created a short EV-Ready Building Code Primer, covering residential and commercial building codes, samples of residential and commercial municipal ordinances and cost-effectiveness comparisons.
The Biggest Challenge Facing Electric Cars Is Still Affordability 2019 Kia Niro EV Electric Crossover Overview: Video IS THE DEATH OF THE INTERNAL COMBUSTION ENGINE AT HAND?Could 2018 go down in history as the beginning of the end for fossil-powered vehicles? Several auto industry analysts quoted in a recent Financial Times article (via The Drive) think it’s a possibility. “We will probably see the peak of combustion engine car sales in 2018,” Felipe Munoz, an automotive analyst for Jato Dynamics, told FT, adding that his company’s “optimistic” forecast for the global auto market had changed in the last six months.More EV News Above: EVs like the Tesla Model S are changing car buyers’ impressions of driving electric (Source: Motor 1)After several years of record growth, auto sales in China, Europe, and the US are levelling off. “When you look at 2018 since the summer, new car sales in all of the important markets are going down,” Axel Schmidt, global automotive lead for Accenture, told FT. “Selling combustion engine cars to customers – this will not grow in the future.”Selling electric cars to customers, however, is expected to grow. Moody’s forecasts that the market share of EVs will rise to 1.6 percent, offsetting the decline in ICE vehicle sales. Most of the growth in EV adoption, at least in the near term, will happen in China, where automakers are investing huge sums in electrification as the government is making it almost impossible for them to expand production of gas-burning cars.Of course, US and European automakers have been producing EVs for years – and selling very few (except for a certain California company). Fossil fuel-burning cars won’t be going away if consumers continue to demand them. However, there’s good news on this front as well. Last May, a survey by AAA found that 20% of respondents said their next vehicle would be an EV, up from 15% in 2017, when AAA first posed the question. Above: Plugging in Nissan’s Leaf (Source: Motor 1)More recently, a survey conducted by the popular video series Fully Charged found existing EV owners to be overwhelmingly happy with their choice to go electric. Out of some 7,700 responses to the audience survey, 88 percent of plug-in car drivers said they would never go back to driving an ICE vehicle. (See Motor1 or Renewable Energy Magazine for more details about the Fully Charged survey results.)As savvy observers of the scene know, most consumers won’t buy EVs to save money, or for their environmental benefits, but because they are better vehicles. “We’ve always maintained that, simply because they are better technologies, electric vehicles and renewables will become mainstream, and this is borne out by our survey,” said Fully Charged host Robert Llewellyn. “It’s the cars in particular that are starting to turn heads, and having driven all of them from the Tesla Model 3 to VW’s hotly-anticipated I.D., I can honestly say that there’s a really cool choice of electric cars for almost every budget.”As any Tesla owner can attest, it’s the test drive that sells an electric car. “Having experienced how impressive electric cars are, we were not surprised to see so many other drivers saying that they won’t go back to the combustion engine, but it might shock those that have yet to switch,” said Llewellyn. “Perhaps more surprising was that the two-thirds of our audience who are yet to buy an EV intend to do so in the next couple of years.”===Written by: Charles Morris*Editor’s Note: EVANNEX, which also sells aftermarket gear for Teslas, has kindly allowed us to share some of its content with our readers, free of charge. Our thanks go out to EVANNEX. Check out the site here. Source: Electric Vehicle News Hyundai Kona Electric Gets Priced In U.S: SEL, Limited, Ultimate *This article comes to us courtesy of EVANNEX (which also makes aftermarket Tesla accessories). Authored by Charles Morris. The opinions expressed in these articles are not necessarily our own at InsideEVs. Author Liberty Access TechnologiesPosted on January 29, 2019Categories Electric Vehicle News
Electrify America & Tesla reach a deal for energy storage systemsElectrify America today announced its plan to install Tesla Powerpack battery systems at more than 100 of their electric vehicle charging stations nationwide over the course of 2019.Electrify America News Author Liberty Access TechnologiesPosted on February 4, 2019Categories Electric Vehicle News Some may ask why onsite energy storage is necessary for EV charging, and the simple answer is demand charges. Demand charges are based on the highest draw the customer (in this case all the charging stations at one location) uses from the utility during a set period of time in a given month, usually carved up into 15-minute intervals.Demand charges vary from utility to utility in the US, but they are so costly they make it nearly impossible for DC Fast charge stations to even break even, let alone be profitable. For example, I own and manage a 24 kW DC fast charger on my property in Montclair, NJ. I pay 12 cents per kWh for my electricity supply, but because the DC Fast charger pulls so much energy at once, I have to pay demand charges for it, pushing the cost of my electricity up well over $1.00 per kWh.“Our stations are offering some of the most technologically advanced charging that is available,” said Giovanni Palazzo, chief executive officer of Electrify America. “With our chargers offering high power levels, it makes sense for us to use batteries at our most high demand stations for peak shaving to operate more efficiently. Tesla’s Powerpack system is a natural fit given their global expertise in both battery storage development and EV charging.”Let’s say a Chevy Bolt owner pulls up to charge their car at my station and they stay for two hours. I charge $6 per hour to use the station, which is what I consider a reasonable amount for lower-powered 24 kW DC Fast station. In those two hours, the Bolt will accept close to 50 kWh. My utility, PSE&G, will bill me about $60 for the electricity, and I billed the customer $12 for the charging session. Then ChargePoint takes their 10% network management fee, so I’m left with $10.80; a loss of about $50.00.An Electrify America site like this one with 10 high-speed DC Fast stations will draw a lot of power. On site energy storage will allow for substancial long-term electricity savingsHaving onsite energy storage allows charging providers to cut off, or drastically lower these menacing demand charges, thereby allowing the stations to operate in the black while still charging reasonable fees. They do so by setting the rate the batteries can recharge from the grid at a lower level, previously negotiated with the utility. Therefore, the utility never gets a spike in the power draw for that location higher than what they can plan for. “Shaving off” the high end of the power demand is valuable to the utilities. They will then lower, or even completely waive demand charges for the location if the high point of the energy draw isn’t too high.The battery systems will be deployed to mitigate higher power demand charges and manageoperating costs by avoiding or reducing demand and energy charges during peak chargingperiods. – Electrify AmericaThe reason we haven’t seen widespread use of battery storage with EV charging sites has been the upfront cost. Network providers have done the math, and it was less expensive to just pay the demand charges, than it would have been to spend $50,000 to $100,000 for the onsite battery storage systems. Hopefully, this announcement means the cost is finally getting down to the point where it is becoming financially viable.Each Electrify America site in this program will consist of a 210 kW battery system, with roughly 350 kWh of capacity. They have a modular design, and will allow for more capacity to be added over time. That will become necessary, once there are multiple EVs plugging in and pulling 150+ kW at the same location.The decision for Electrify America to use Tesla’s Powerpack system is a curious one, because Volkswagen, Electrify America’s parent company, has been developing their own energy storage systems. Perhaps it’s because Tesla is so far ahead that Electrify America can’t wait until VW has a commercially-viable product to implement.Tesla has also said they eventually plan to use energy storage at their Supercharger sites, and has done so in limited locations, but have yet to deploy such systems in any large number. Electrify America Launches California’s First 350 kW Charging Stations Source: Electric Vehicle News Electrify America Will Implement Plug&Charge Exclusive: Electrify America Chief Provides Update On EV Charging Build-Out
Mersen, a manufacturer of products for the electric power industry, has announced a new line of overcurrent protection devices for the EV industry. The new line of self-triggered χp-ST hybrid fuses technology purports to offer greater overcurrent protection in EV DC batteries than traditional fuses.The new χp-ST hybrid fuses incorporate a fast-acting pyro-element with self-triggered ignition, eliminating the necessity of an external trigger sensor. The fuses can detect overcurrent faults at 1000 volts DC in less than 1 ms, with a 2kA minimum breaking capability and a power loss of 20 watts at 400 amps. The fuses have adjustable time-current performance and a tunable minimum breaking capacity.The χp-ST hybrid fuses were introduced to address the challenges of overcurrent protection in EV applications. These include fast protection for a range of fault currents, a large amount of charge and discharge cycles, accelerations and regenerative breaking, and harsh vibrations and temperature variations. Source: Electric Vehicles Magazine Source: Mersen
Your mileage may vary.Prices matter. When the Tesla Model 3 was first revealed, the $35,000 base price was a big part of the excitement. It helped drive a mind-bending 500,000-plus pre-orders for the mid-size sedan just days after the initial launch. Of course, the base price Model 3 didn’t arrive until over a year-and-a-half later. This brings us to the new Model Y.More on the Tesla Model Y Tesla Model Y Pricing Predicted To Start At $45,000, Top Out At $85,000 As you may have heard, that vehicle will be revealed tonight. As we watch the livestream, the question of when the most affordable version will become available is likely to arise. Opinions here at the palatial InsideEVs headquarters are mixed, but this writer thinks it will hit stores the website sooner rather than later. How soon, then?As we said, it took the Standard Range version of the Model 3 about 18 months, give or take, to make it from initial high-spec variant deliveries to actual production of the base model. And in that case, Tesla CEO Elon Musk made some (now partially reversed) bold moves to make that happen. The timeframe for the Model Y should be much shorter.When deliveries officially begin, the Long Range versions will again be the first available to order. That’s the version that will feed the most money back into the automaker’s coffers, so it’s the business decision that makes the most economic sense. There are many factors that will determine the number of months until a Standard Range Model Y can be delivered: speed of the production ramp up and the creation of the necessary space to build them all, for instance.If the company has truly learned from its Model 3 “production hell” ramp up, then a lot of time can be saved there. Since the Model Y will be built on the Model 3 platform and share as much as 75 percent of their parts, the production scale of those elements is already high, making the needed drop in prices to be able to sell the base version at a profit somewhat closer.In the end, this writer thinks the distance from Long Range production to Standard Range availability should be less than a year. It would be nice to see it happen within eight months, but it’s more likely to take closer to twelve. As we said, others in the office feel differently. You may too, so give us your best estimate in Comments. Author Liberty Access TechnologiesPosted on March 14, 2019Categories Electric Vehicle News Tesla Model Y Reveal: Watch Livestream, Pre Show, Post Drives Here Tesla Model Y Reveal Event: Here’s What To Expect: Video Source: Electric Vehicle News
Source: Charge Forward Today only, as part of its Deals of the Day, Best Buy offers the Philips Hue White and Color BR30 Smart LED Light Bulb for $24.99. It will ship free in orders over $35 otherwise you’ll need to opt for in-store pickup to sidestep any delivery fees. As a comparison, it typically sells for over $40 at retailers like Amazon. This is a great way to jump into or expand your Philips Hue setup. In addition to Siri, Alexa and Assistant control, you’ll be able to count on typical LED light bulb savings. Rated 4.1/5 stars. Head below for more deals. more…Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.https://www.youtube.com/watch?v=09bIEmS_KdYThe post Philips LED traditional and smart light bulbs are on sale and more in today’s best Green Deals appeared first on Electrek.
Source: Charge Forward GM claims to be all-in with electric vehicles, but they are still only selling one all-electric car and they are selling it at a loss.Now the automaker says it is pushing for more affordable and profitable electric cars. more…Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.https://www.youtube.com/watch?v=V1zk7Eb8r-s&list=PL_Qf0A10763mA7Byw9ncZqxjke6Gjz0MtThe post GM is pushing for an affordable and profitable electric car appeared first on Electrek.
Newcastle sale scuppered by Americans’ hedge fund losses Reuse this content Share on Messenger This article is more than 10 years old Newcastle United Matt Scott Mon 12 Jan 2009 19.01 EST Share via Email Share on Facebook First published on Mon 12 Jan 2009 19.01 EST Newcastle United Premier League Mike Ashley’s attempt to offload Newcastle United was foiled by the allegedly fraudulent activities of Bernard Madoff, the hedge fund manager currently under house arrest while the US authorities investigate suspicions that he masterminded a £32bn fraud. Two wealthy Americans had indicated their intention to lodge a formal offer for the club with the broker Keith Harris, whose Seymour Pierce company had been engaged by Ashley to find a buyer.The bid was expected last month but never materialised. Harris learned later that the two investors had been exposed to Madoff’s suspected pyramid scheme at a cumulative cost of more than $300m (£201m).That astonishing loss instantly put an end to their interest in Newcastle. “A few weeks ago there was a decent degree of positive thought and optimism that there would be a buyer and then, amongst others, Mr Madoff came along,” said Harris. “There were two people that were looking at Newcastle with us who lost, let’s say, over $300m to Madoff.”That sum equates to close to the asking price Ashley had set for Newcastle. “Mike Ashley put his hand in his own pocket and paid off all the debt,” Harris said. “What you were acquiring would have meant not looking at having to worry about what do I do when the banks want their money back.”Instead the Americans now have other, more pressing worries.Arsenal shares turn overNot all wealthy Americans are turning away from football. Stan Kroenke has continued to invest in Arsenal shares, picking up £100,000 worth on 23 December. The stake pushes his holding in the club to 12.4%. Kroenke was appointed as a non-executive director last October and his purchase could indicate a renewed desire to take over the club. A further eight shares changed hands in a single transaction yesterday and, if the buyer was Kroenke a declaration to the stockmarket will be due today or tomorrow. Club kremlinologists at the Arsenal Supporters’ Trust, a shareholders’ group, speculate that Kroenke might have been sending a message to the third-largest shareholder, Nina Bracewell-Smith. Lady Bracewell-Smith had been ousted as a board director less than a week before Kroenke’s block purchase, meaning her 15.9% shareholding now confers her no perks. It could be that the board is exercising a strategy to pressure Bracewell-Smith into cashing in her asset to Kroenke. IPL agreement nearKevin Pietersen would risk his entire career if he were to quit the England team in favour of a $1.5m contract in the Indian Premier League, according to sources involved in the competition. “He has taken one risk and it has backfired,” said an insider. “No one would want him to try to become the world’s first Twenty20 player. Players need to be currently involved in international cricket for Indian fans to engage with them.” Pietersen, below, and his peers in the England team have yet to sign the central contracts they have held since last October, with one of the elements under negotiation being the stipulation over how long England players will be allowed to play in the IPL. Meetings took place last week between the ECB and the Professional Cricketers’ Association, with both parties holding out hope that agreement can be reached before the team flies to the Caribbean on 21 January.Redknapp’s hard bargainHarry Redknapp has a reputation as one of the canniest transfer-market operators and it is a gift he has worked for more than 20 years. The Tottenham Hotspur manager told the audience at the Football Writers’ Association’s gala tribute evening in his honour on Sunday that in early 1985 he picked up the telephone to someone who was quitting as a director of Maidstone United. “Harry, Mark Newson’s available,” said the voice on the end of the phone. “Tottenham want him but, if you’re quick, you can have him for nothing because he’s not registered with the Football Association.” Redknapp, then Bournemouth’s manager, checked with the FA’s registrations department and the story checked out. Later he called Barry Fry, who was Maidstone’s manager. “Barry, I’m calling about Mark Newson.” “Tottenham want him but we haven’t agreed a fee,” replied Fry. “They’ve offered £100,000 but we might get £200,000.” “You won’t,” replied Redknapp. “I’ve just signed him on a free.” This article is more than 10 years old Share via Email Share on WhatsApp Share on Facebook news Digger Share on Twitter Share on Pinterest Topics Digger Share on Twitter Shares00 Share on LinkedIn