Zazzle Shop

Screen printing

Friday, February 6, 2009

25 People Who Will Affect Your Finances in 2009

A month into the new year, and the American economy is reeling from the ongoing banking crisis, battered retirement accounts, and mounting unemployment. Who are the folks who might make things better, or even worse? Who are the people who will move markets this year, up or down? To help you keep track of these "market movers," U.S. News & World Report compiled a list of key CEOs, politicos, and even media stars to watch in 2009. So if things do improve, you'll know whom to credit. And if they don't, you'll know whom to blame.

1) Barack Obama. Tackling the economic mess is job one for the new president, and then it's on to challenges in healthcare, climate change, and financial re-regulation. It's a daunting list for the new commander-in-chief who famously said "the challenges we face are real ... [and] they will be met."

2) Ben Bernanke. Now that the Federal Reserve chairman has slashed interest rates to almost zero and lent billions to the ailing banking sector, what comes next? He'll need to stay nimble this year, as the central bank keeps trying to figure out how to deal with all those bad mortgage assets while supporting a Fed balance sheet that's ballooned to $2 trillion.

3) Lawrence Summers. He's a brilliant economist and a former Clinton-era treasury secretary. Now, as head of the National Economic Council, he's a major force in sizing up the Obama Administration's stimulus package.

4) Timothy Geithner. The youthful Treasury Secretary (he's 47) will be tasked with figuring out a plan to heal the banking sector. His time in the trenches during the collapse of Bear Stearns and Lehman Bros. give him credibility in the finance world, even after it came to light that the country's most visible financial enforcer forgot to pay some of his own taxes.

5) Jean-Claude Trichet. The president of the European Central Bank caught flack for hiking interest rates in mid-2008, but reversed course in response to the global downturn later in the year. Since then, he's proved surprisingly creative in dealing with the global spread of the banking crisis. Still, as lenders worldwide (and Europe in particular) face mounting losses, his job is far from done.

6. Warren Buffett. The legendary investor took full advantage of market turmoil last fall, decrying the rise of "financial weapons of mass destruction" while making billion-dollar investments in beaten-down American companies including Goldman Sachs and General Electric. Buffett's investments didn't escape the market's decline in late 2008, but if there's any environment where a value-investing guru can prosper, it's this one.

7) Bill Gross. No other bond investor carries as much weight as Bill Gross, co-founder of the $800 billion Newport Beach, Calif.-based bond giant Pacific Investment Management Co., or PIMCO. Risky bets placed on Fannie Mae, Freddie Mac, and other finance and mortgage-related securities late last year showed some daring. They'll play out in 2009. His latest advice for fixing the economy: "[T]he remedy for this deflationary delevering and mini-depression is simple and almost axiomatic: stop the decline in asset prices."

8) Lou Jiwei. As chairman of China Investment Corp., the $200 billion state-run foreign investing arm, Jiwei suffered through bad bets on investments in American financial firms like Blackstone and Morgan Stanley. Now, the technocrat is shying away from the U.S. banking sector, and raising stakes in institutions at home.

9) Barney Frank. As the chairman of the House Financial Services Committee, the colorful and whip-smart Massachusetts Democrat will play a key role in the new Congress's efforts to resolve the worst financial crisis since the Great Depression. He's also addressing the regulatory shortcomings that helped create it.

10) Sheila Bair. By arguing that the federal government should do more to modify troubled loans--and then introducing a program that would do so--Bair, who heads the Federal Deposit Insurance Corp., has emerged as a leading figure in the high-profile battle against foreclosures.

11) Kenneth Lewis. For now, Bank of America CEO Kenneth Lewis remains in charge of the consumer-banking giant. After losing face following unexpected losses from the $21 billion emergency acquisition of Merrill Lynch, he's fighting to restore the bank's profitability--and his reputation.

12) Jamie Dimon. The J.P. Morgan Chase head is either the smartest guy on Wall Street, or just the luckiest. He got the deal of the century by picking up Bear Stearns and Washington Mutual, deals which makes Morgan, by some measures, America's biggest bank. Now all he has to do is rebuild destroyed shareholder value at a time when a slow economy and tighter regulation could make banking a far less profit-friendly business.

13) Vikram Pandit. Citigroup's beleaguered CEO has a tough year ahead (if he manages to keep his job). The looming questions: What's to be done with a $306 billion portfolio of troubled mortgages and other assets? And will the bank weather mounting credit card losses and consumer defaults?

14) Jim Cramer. Love him or hate him, the former hedge-fund manager turned "Mad Money" host on CNBC still has a voice that out-booms all others when it comes to stock picking. Lately, his manic antics have included scathing attacks on asleep-at-the-switch regulators and tossing his hat into the ring for the job of chairman of the Securities and Exchange Commission.

15) Prince Alwaleed bin Talal. The billionaire Saudi investor has had a rocky go since his firm, Kingdom Holding Co., went public on the Saudi stock exchange in 2007. A huge stake in Citigroup went south last year, sending Kingdom shares down 62 percent. Alwaleed's personal net worth slumped to an estimated $17 billion, down from $21 billion in 2007.

16) Eric Schmidt. The Google CEO is forging ahead despite a wavering stock price on the strength of a 60 percent-plus market share in Internet searches and the accompanying highly profitable ads. He's also behind new moves into coming battles in the browser and smart-phone wars.

17) Meredith Whitney. Oppenheimer's outspoken banking analyst has become the closest thing to a household name in the research world, thanks to gutsy but accurate forecasts of financial trauma. Her bearish calls made her one of the most prescient figures on Wall Street and influential enough to make blue-chips tank and CEOs tremble.

18) Steve Jobs. It's hard to think of any company more tied to the personality of its leader than Apple. It's not surprising, given Jobs' role as the architect behind runaway successes including the iPod, iTunes, and iPhone. A swooning share price amid rumors regarding his future at the company shows Wall Street still believes Apple's fate rests on the man who made Mac.

19) Austan Goolsbee. The young star from the University of Chicago Graduate School of Business is the cheerful face of centrist, market-friendly policies in the Obama Administration. He's won over conservative critics including George Will despite his own criticisms of supply-side conservative policies. His role as chief economist for the President's Economic Recovery Advisory Board will include helping to fix the financial crisis while keeping up the administrations' pro-market, pro-trade credibility.

20) Rupert Murdoch. He won the battle to buy the Wall Street Journal, and the billionaire News Corp. head continues to oversee a sprawling global empire of media properties. How he'll fare during one of the worst advertising markets in history remains to be seen.

21) Nouriel Roubini. They call him "Dr. Doom." The New York University economist has the right to wear the title as a badge of honor. After correctly predicting the severity of the housing and credit crisis, he's a continually popular source for the latest version of what could still go very wrong in the economy.

22) Maria Bartiromo. Anchor of CNBC's "Closing Bell with Maria Bartiromo" and host and managing editor of the nationally syndicated "Wall Street Journal Report with Maria Bartiromo," she's become the first face of financial news during one of the worst downturns in history.

23) Neil Cavuto. Fox's irascible Neil Cavuto has seen his profile rise as the financial crisis rages and the economy swoons. A familiar face on both the Fox News Channel and Fox Business Network, he's the network's unapologetic free-market voice at a time when defending capitalism has become a tougher sell.

24) Lawrence Kudlow. If Barack Obama makes the case for higher taxes on the rich, you can bet CNBC host Lawrence Kudlow will be taking the other side of that trade as a long-time banner-carrier for the tenets of Reagan's supply-side revolution.

25) Paul Krugman. Arguably America's best-known living economist, Krugman won the 2008 Nobel Prize in economics for his work in international trade. In his more public role as one of the staunchest critics of the Bush Administration, the New York Times columnist and author remains both an unapologetic partisan and a helpful demystifier of complex economics.

Hmm Kia MPV- here come the Koreans

kia-mpv-555.jpg

Behold the next Kia MPV. What's an MPV you say? Most sane people figure it to mean "multi-purpose vehicle", but not Kia.

Nope, those crazy loons figure this nifty concept is a "Million Possibilities Vehicle". Ok, we'll just have to see about that next month at the 2009 Geneva Auto Show.

Mercedes Unveils Destinations Program

MONTVALE, New Jersey — Earlier this week, Mercedes-Benz USA reported January sales of 10,433, a 43 percent drop compared with January 2008. But that dire news didn't stop the German automaker from rolling out a new "Destinations" program that harks back to the old boom times.

Destinations is a major perk program for Mercedes-Benz owners. It links the automaker to exclusive U.S. resorts and hotels, where Mercedes-Benz owners can take advantage of complimentary vehicles, welcome gifts and room upgrades. The complimentary vehicles include the Mercedes-Benz SL63 AMG, the S-Class sedan and the new Bluetec SUVs.

The hotels and resorts in the program include The Montage in Beverly Hills, California; the St. Regis in Aspen, Colorado, and The Inn at Palmetto Bluff, South Carolina, among others. Rates at The Montage normally range from $495-$1,600 a night for two adults, according to Ares Travel.

"Our new Destinations program extends that luxury experience by offering exclusive customer benefits through select, hand-picked properties that are quite extraordinary," said Lisa Holladay, manager of Mercedes-Benz brand experience marketing.

Owners can get more information at the Mercedes-Benz Owners Web site.

In an interesting counterpoint to the exclusive program, Mercedes-Benz USA announced earlier this week that sales of its used cars have gone through the roof this year. The Mercedes-Benz Certified Pre-Owned Program reported a whopping jump of 86.3 percent in sales this January versus sales in January 2008.

Inside Line says: Feels like the good old days thanks to this new program. Just don't tell anybody that's a used Mercedes you're driving.

4 IPO's You Can Get In On Next Week

After a barren U.S. market last year, four companies will test investor appetite for initial public offerings next week.

A children's food maker, a renewable energy company, a real estate investment trust and a homeland security group are all expected to hit the street next week. Together, they could raise nearly $940 million.

As the economy chilled in 2008, the number of companies that went public froze. The last U.S. deal to hit the market, Grand Canyon Education, brought in $144 million last November. It was the only IPO in the fourth quarter, a dismal end to 2008, during which the number of IPOs declined 83% from 2007 to 43.

The current drought is the second-longest on record, and the number of withdrawn or postponed IPOs increased 62% to 120 in 2008 from 74 deals in 2007, according to data tracker Dealogic.

Despite some optimism from the federal economic stimulus package in Congress, the IPO outlook for 2009 remains bleak. According to Dealogic, just 31 deals are looking to raise $7.5 billion in the current 180-day SEC registered backlog. At the same time last year, 146 IPOs expected to raise $43.7 billion.

Analysts say the market will start to thaw if the initial round of IPOs is successful. "People will want to see how they price and perform," says Mary Ann Deignan, head of equity capital markets in the Americas for UBS. "If you see nice trading and reasonable valuations come out in this first class, then you will start to see more companies come to market."

Deignan says investors will remain cautious in 2009, but some will spend if the opportunity is right. "There really aren't very many people on the buy side who have said to us 'don't show me any IPOs,'" she says. "But everyone has said 'I need a good clean company, I need a clean balance sheet, I need visibility, I need good valuation, I need a reason to believe that I'm not taking a silly risk.'"

Timothy Monfort, head of equity capital markets at Jefferies, expects public offerings to reemerge in the second half of the year, but warns that investors will be especially cautious about putting money into unproven businesses with many blue-chip stocks available at steep discounts. "When the IPO market comes back and the flow is more steady, it will be driven by best-in-class, larger companies," Monfort says.

The IPO is expected to raise $563 million with an initial price range of $21 to $24. If successful, it would be the largest U.S. IPO since American Water Works raised $1.25 billion in April 2008.

What else is on tap

The other three companies don't have the same pedigree as Mead Johnson. Changing World, which transforms waste from animal and food processing into renewable diesel, isn't yet profitable, losing $19.9 million on sales of $589,000 in 2007. The deal aims to raise $32.75 million with a stock price of $11 to $15.

Still, Changing World's alternative energy play fits with a hot topic on Wall Street: the nearly $900 billion federal stimulus package in Congress. Billions of dollars in government spending and tax cuts are slated for alternative energy, and companies like Changing World could get increased tax breaks and other incentives.

Changing World wouldn't comment further, but the company has already received a $1-per-gallon renewable diesel federal tax credit, according to its Securities and Exchange Commission filing.

"This massive infusion of money...may encourage some companies to go out," says Mark Heesen, president of the National Venture Capital Association, but he notes that investors are still wary of relatively unproven businesses even in sectors that stand to benefit from stimulus dollars like clean tech, broadband, and life sciences.

Real estate investment trust Madison Square Capital (MSC) and homeland security focused O'Gara Group will also test investor interest for their industries.

MSC invests in agency-backed residential mortgage securities like those issued by troubled lenders Fannie Mae and Freddie Mac. Despite the mortgage-centered financial crisis, the company was recently formed by Highland Financial Holdings, a mortgage and asset-backed securities financial firm. At about $15 a share, MSC plans to raise about $200 million from the IPO.

"Existing real estate investment trusts all have pretty bad portfolios. Madison Capital will bring a clean slate and diversification," says Francis Gaskins, editor of IPODesktop.com. "All they're doing is cherry picking from government-backed securities. There's no risk."

The last of the IPOs expected next week is the O'Gara Group, which is expected to raise about $144 million with an estimated price of $17 to $19 a share.

The company focuses on the homeland security market, making products like armored vehicles and night vision goggles, and providing urban warfare and other training services. O'Gara will acquire three companies simultaneous to the IPO for $232 million: armored-vehicle suppliers Isoclima (Italy) and TPS Armoring (Mexico), and OmniTech (U.S.), which makes night-vision goggles. The company posted a loss of $2.8 million through Sept. 30 2008, according to a Jan. 12 SEC filing.

Regardless of how investors take to O'Gara and the other IPOs next week, the outlook for 2009 is uncertain. "Hopefully in the second half of the year we'll see something that feels like it's a more steady stream," says Deignan of UBS, emphasizing the importance of general market stability for IPOs in 2009.

"But a lot of it is going to depend on underlying economic conditions, which I'm not going to opine on as my crystal ball is not as good as it used to be."

Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"




The fiscal stimulus bill being debated in Congress not only won't help the economy, it will make the recession much worse, says Peter Schiff, president of Euro Pacific Capital.

Schiff scoffs at the notion the economic decline is starting to level off and concedes no government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster," says Schiff, who gained notoriety in 2007-08 for his prescient calls on the housing bubble and U.S. stocks.

The problem, he says, is the government is trying to perpetuate a "phony economy" based on borrowing and spending. With the U.S. consumer tapped out, the government is "now taking on the mantle" of consumer of last resort, he continues, predicting the bond bubble will soon burst - if it hasn't already - ultimately leading to a collapse of the dollar and an "inflationary depression worse than anything any of us have ever seen."

If nothing else, Schiff is an nonpartisan critic of American policymakers, comparing President Bush to Herbert Hoover and President Obama to FDR, and neither in a favorable way.

Note: Stay tuned for part 2 of my interview with Schiff, where he addresses recent criticism of his investing prowess.

Ten best Used Cars for Less Than $5000

Special Post for MacDaddy since that's all his wife would allow him to spend!

There are three things you need to know about this list. First, as soon as the unit cost of automotive fun starts to look too good to be true, it probably is. You're not going to get a $10,000 car for $5,000. Second, cars this capable of driving goodness with sub-$5,000 price tags have at least 100,000 miles — universally. Get over it. Finally, all of them — with careful shopping and plenty of patience — are still worth it.

We did most of our shopping using Auto Trader to gauge pricing and eBay Motors to collect actual transaction prices. Doing so illustrated the dramatic regional price differences. Roadsters like the Miata, for example, go for more in the Sun Belt in the summer than the Rust Belt in the winter. So expect these swings and take your time to find the right car. It's out there.

1994-2001 Acura Integra GS-R
Here's what's great about Acura's Integra GS-R: It's got an engine with a ripping 8,000-rpm redline and a transmission that keeps the engine in the meat of its big-cam-lobe power band when shifted at redline. Well, that, and it's one of the best-handling front-drivers ever made. It's also a practical hatchback with rear seats that will allow it to haul four people in a pinch.

Finding a stock GS-R in good shape is no easy task these days, as most have either been abused, neglected or received the full rice-rocket treatment complete with polished muffler and painted interior bits. Your best bet here is to find a seller who doesn't know the difference between GS-R and OCD.

If it were our money: GS-Rs remained relatively unchanged over their eight-year run in the U.S., so we'd buy the lowest-mileage, most stock car we could find. A little tuning will seriously awaken the GS-R's engine. We'd add Type R valvetrain components, a more efficient intake and exhaust header and have Hondata retune it all to work together.

Online sources: Acura Integra history:, Honda-Tech (use Integra-specific forums), Club Integra

1985-'94 Chevrolet Camaro/Pontiac Firebird
If your version of automotive fun leans more toward burnouts and powerslides than country back roads, then GM's F-body twins might just be your best bet. You need not bother with anything but V8 power. Two options were available in the third-generation cars: a 5.0-liter or 5.7-liter V8. However, the larger and more powerful L98 5.7-liter TPI engine, which was available from 1987-2001, was only available with an automatic transmission.

Fourth-generation cars ('93 and newer) offer a far stiffer chassis and more powerful LT1 engine — this time with a six-speed manual transmission. Power rating for 1993 and '94 models was 275 horsepower and 325 pound-feet for both Camaro and Firebird — enough to make you forget about your bad taste with sheer pushrod joy. And you might want to avoid T-top cars and convertibles of any vintage. Rattle traps for sure.

There's no shortage of well-maintained third-generation cars available for far less than our price cap. Finding a fourth-generation is more difficult, but thanks to their abundance, success is just a matter of time (and taste). We found several on eBay that had closed in the last month.

If it were our money: In the Camaro/Firebird world, the LT1 is only one step away from nirvana (LS1) and that's exactly where our money would go: the lowest-mileage fourth-generation Camaro coupe we could find. And a new set of rear tires.

Online sources: Chevy Camaro history, Third Gen, LS1/LT1 Forums

1984-'96 Chevrolet Corvette
The C4 Vette, which doesn't age as well as many cars on this list, is here because it's an impressive value at this price. You get an independent suspension with lightweight aluminum bits, huge wheels and tires, real brakes and, if you buy the right year, at least 245 hp.

Finding a C4 Corvette that merits parting ways with $5 grand is going to require patience. Most are junk and all require prudent shopping and a willingness to do some wrenching. One completed C4 eBay listing said the subject of the auction was "rougher than three nights in a South Georgia jail." It sold for $3,150, but it had 123,000 miles on the clock and its interior probably smelled like the men's room in a South Georgia jail. We found running examples for as little as $2,500. And there were plenty that sold for far less than our price cap.

Vetteheads will tell you that the convertible reappeared in 1987, but smart Vetteheads will tell you to avoid them like moldy milk. Structural rigidity is so bad, the doors open on the larger bumps. No joke.

If it were our money: Forget about any car before 1989. That's when the ZF six-speed manual transmission was introduced. Before that, the manual transmission option was a four-speed with electronic overdrive. And it sucked, so don't bother. The L98 made 245 hp beginning in 1988 — the same year the Vette got massive 275/40ZR17 rubber.

Online sources: Chevy Corvette history, Corvette Forum

1986-2004 Ford Mustang
Let's not forget the Ford Mustang — the car to buy if you prefer a V8 rumble to drown out the rattles from your cheap ride's aging interior. We're starting with the 1986 model year because that's the first year the 5.0-liter V8 was fuel-injected (third-generation Mustangs began production in 1979). The next major generational change didn't happen until 1994 and ended in 2004, but you'll find few cars newer than the 2000 model year for less than $5 grand.

Virtually any online classified source will yield an abundance of Mustang-powered rubber-smoking, mullet-flapping good times. And it can all be yours for less than $5 large.

Four body styles were available with the V8: hardtop, T-top (up to 1993 only) and convertible. There was even an unloved but cool notchback made famous by the California Highway Patrol and sold to the public throughout the '80s and early '90s. It died with the Fox body after 1993.

If it were our money: The clean lines of the 1987-'93 LX — mercifully free of the GT's side skirts, spoiler and general tackiness — are still easy on the eyes today. The LX came with the same 5.0-liter, 225-hp engine found in the GT. These cars could run high 13-second quarter-mile times in their day, which was quick enough to take anything but a Buick Grand National. We'll take ours with a five-speed: no T-tops, no ragtops.

Online sources: Ford Mustang history, Ford Mustang Forums, Mustang Heaven, Mustang Works

1997-2001 Honda Prelude
Obscure, unpopular, underrated and overpriced. That's how the automotive press viewed Honda's last Prelude. But it's the underrated part that earns the Prelude a spot on this list. You'll find few reviews of this car that criticized its dynamics. In its final generation, the Prelude utilized a 2.2-liter four-cylinder (H22) making either 195 hp (1997-'98) or 200 hp (1999-2001). A five-speed manual transmission was standard and a four-speed auto was optional.

Most Honda Preludes have fallen victim to the same group of miscreants who are attracted to the Integra. Sorting through the masses (and there are plenty on Auto Trader) will take some time and probably some travel. You might have to blow the budget by a few hundred bucks to get the right car.

If it were our money: The right car, in this case, is the SH trim level, which utilized Honda's magical Active Torque Transfer System (ATTS) to bias drive torque to the outside wheel in a turn. It's the best limited-slip differential of the day. SH Preludes are mixed in at random with base models in the classifieds so some owners might not know what they have. Be sure you drive the car hard around a corner — you'll know if ATTS is present and functional immediately. Oh, and of course ours would have three pedals.

Online sources: Honda Prelude history, Honda-Tech (use Prelude-specific forums), Prelude Online

1990-'98 Mitsubishi Eclipse GS-T/GSX and Eagle Talon TSi/TSi AWD
Bring on the boost. The Diamond Star Motors twins — Mitsubishi Eclipse/Eagle Talon — came with turbocharged 2.0-liter inline-4 engines and optional all-wheel drive wrapped in a striking two-door hatchback body. Two generations of these cars were produced over a nine-year run. First-generation cars were rated at 195 hp while second-generation models made 210 hp.

Our search produced several well-maintained second-generation cars with fewer than 100,000 miles inside the price cap. A few were convertibles, which suck. Tops are expensive to replace and chassis stiffness is lost. First-gen cars are abundant and cheap, while Talons are even cheaper, just because fewer people know what the hell an Eagle is.

If it were our money: Most enthusiasts prefer the 1G cars for their lighter weight and bigger stock turbo, which could easily make more power than the T25 on 2G cars. However, with nice 1G DSMs becoming increasingly scarce, a well-maintained 2G (which has the desirable double-wishbone front suspension) might be a smart choice. We'd buy an AWD model with a five-speed and the optional rear limited-slip differential.

Online sources: Mitsubishi Eclipse history, DSM Forums, Club DSM, Road Race Engineering

1990-2000 Mazda MX-5 Miata
Mazda's Miata is the best-handling, most communicative and most engaging car on this list. It's also the slowest. But if a Camaro makes the list for its engine, then the Miata should for its chassis. Still in production as the third-generation MX-5 Miata (although the Miata model name went away briefly when the third-generation model was introduced), this little roadster proves that the right sports car formula has real staying power.

First-generation (1990-'97) cars are readily available for well under $5 grand, while only the first two years of the second generation make the price cut, and cheap high-mileage second-gen cars are out there. Either way, the closer you get to the price cap, the less likely you'll be to wind up with a car that needs a new top, which can cost $800.

If it were our money: The more powerful (140-hp) second-gen Miatas are better overall cars, but we still want the purity of a 1.8-liter first-gen with a five-speed and Torsen limited-slip differential. Avoid the automatic tranny at all costs — it's the only way to steal the soul of a Miata.

Online sources: Mazda Miata history, MX-5 Miata Net

1989-'98 Nissan 240SX
Nissan's 240SX is a great chassis in search of a real engine. Here's what you get: Light weight, rear-drive, sophisticated rear suspension, great steering and a low cost of entry — a car modeled on the Porsche 944, in fact. Unfortunately, Nissan wimped out and offered the 240 with only a slightly improved version of the 2.4-liter inline-4 from its trucks.

But these 240s are the drifter's car of choice, so many cars have undergone a swap to the more powerful and easily modified 2.0-liter SR20DET turbo engine that was fitted to the car in the Japanese market.

Two generations of the 240SX, S13 and S14 in Nissan-speak, spanned a nine-year sales run in the U.S. Later versions (1995-'98) make slightly more power and offer only a coupe body, while first-gen cars were available as a coupe, a hatch and a convertible.

If it were our money: A properly swapped SR20 car will be hard to come by on this budget, so we'd buy the nicest stock-engine five-speed car we could afford and save our bucks for doing the swap right.

Online sources: 240SX Org, S-Chassis, Jim Wolf Technology

1998-2001 Subaru Impreza 2.5 RS
There are lots of reasons to buy a Subaru 2.5 RS, but ours is simple: It's the only car on this list that makes us want to drive on anything but a perfectly smooth road. And it's the only one that's any good at it.

The RS only made 165 hp, but that's plenty in the gravel or snow. Based on the simple and nearly indestructible GC Impreza platform, the 2.5 RS's appeal was largely a result of its simplicity. Struts front and rear make suspension upgrades to the exceptionally stiff chassis quick and easy. The first two model years were coupe only, but a sedan became available in 2000.

We found high-mileage (150,000-plus) 2.5 RS models starting at around $4,500 on Auto Trader. We'd probably spend a bit more to get fewer miles. Thanks to its relative anonymity and desirability in snowy climates, finding an unmolested 2.5 RS will be easier than many other cars on this list.

If it were our money: Our 2.5 RS would be a 2000 model for two reasons. That's the first year of the sedan, which increases practicality without a significant decrease in performance. Plus, beginning in 1999, all RSs got the SOHC engine, which is smoother and makes a bit more torque.

Online sources: RS25, North American Subaru Impreza Owners Club

1991-'95 Toyota MR2
With the advantages of relatively low weight, excellent weight distribution, a low polar moment of inertia and ample power (from turbo models), the second-generation Toyota MR2 deserves its spot on this list. Base models used a Camry engine, which means they accelerate like, well, a Camry.

Realistically, the only turbo model that fits our budget is a beat '91 with T-tops, which you probably won't want. Fact is, these cars have appreciated in value lately, with the turbo models leading the way. But look earnestly and you'll find a decent base car with high mileage. The upside to having Camry power, of course, is Camry durability and reliability — the powertrain is solid well past 100,000 miles.

Ninety percent of these things were equipped with T-tops so they'll be hard to avoid, but finding a fixed-roof car is still more desirable. Chassis rigidity is better, and replacing missing panels is expensive.

If it were our money: A high-mileage base car with service records is probably worth more than $5 grand, but we found an undeniably appealing base car fitted with a 3.0-liter V6 from the Lexus ES 300. Go ahead, tell us that doesn't sound like fun.


Blight: Illuminating Solar Blinds Turn Night to Day

by Mike Chino

blight solar blinds, greener gadgets design competition, renewable energy, photovoltaic blinds, sustainable design, green design, illuminating blinds, interior design

One of fifty top entries in this year’s Greener Gadgets Design Competition, Vincent Gerkens’ Blight offers a brilliant twist on staid venetian blinds. Rather than serving simply to block the sun’s rays, the design re-envisions blinds as sun-soaking solar panels that store energy during the day and illuminate your interiors at night.

blight solar blinds, greener gadgets design competition, renewable energy, photovoltaic blinds, sustainable design, green design, illuminating blinds, interior design

Named after a combination of the words “blind” and “light”, Blight creates a seamless link between the indoors and the outdoors, storing sunlight during the day and giving it back at night. The smart design takes advantage of the large surface area of extended venetian blinds by lining each panel with flexible solar cells. Once night falls, stored energy is transfered to a layer of electroluminescent foil, which provides energy-efficient light.

Gerkens states: “With Blight we have not produced a new object; we have just created the design of an everlasting product: the Venetian blind. We use all the current functions of this object and add a little technology to give it a new function - to catch solar energy and convert it into electricity.”

There’s lots more innovative eco gadgets to check out, so head over to the to the Greener Gadgets website to see all 50 entries! And remember, we’ll be awarding $5000 to the top three designs so be sure to vote for your favorite!

VOTE FOR YOUR FAVORITE GREEN GADGET >

+ Blight

+ Greener Gadgets Design Competition

blight solar blinds, greener gadgets design competition, renewable energy, photovoltaic blinds, sustainable design, green design, illuminating blinds, interior design

Editor Reviews: 2009 F-150

2009 Ford F 150 Lariat Front Three Quarter View
2009 Ford F 150 Lariat Interior View

Pagani Launches Zonda R

Pagani Launches the Zonda R

Pagani showed a scale model of its Zonda R at the Geneva show last year. The car has now come to life and is reportedly the fastest Pagani ever.

The Zonda R is born from owner Horatio Pagani’s dreams. “The car’s long been a crazy dream of mine, but I never expected to find so many people who were just as crazy,” he told Autocar. There will only be sixteen cars produced, and only five remain up for grabs.

Pagani is right to call this car crazy. The Zonda R sports a 6.0-liter Mercedes-Benz V-12 engine and is the product of further development on the 6.0-liter V-12 found in the Mercedes-Benz CLK-GTR race car from the late 1990s. The engine produces a monstrous 739 hp and 524 lb-ft of torque.

The cars basic body structure is built from a woven mix of carbon fiber and titanium and is the first car in the world to use the material. The special weave is four times the cost of ordinary carbon fiber, but can easily be absorbed into the cars €1.4 million ($1.8 million) price tag. Using the exotic material helps the Zonda R achieve a curb weight of just 2300 lbs.

With 739 hp and only 2300 lbs to propel, the Zonda R is good for 0-to-60 mph in under 3.0 seconds and will reach 233 mph before running out of steam. To help transmit the power to the ground, Pagani employs a 6-speed sequential transmission with an Automac Engineering AMT system. The Pagani Zonda R uses 15-inch ventilated Brembo carbon ceramic brakes at the front and rear to provide fade-free stopping at the track.

While the Zonda R may be a completely unique vehicle, it does have one similarity to other Zondas: it won’t be coming to the States. If you’re interested in purchasing one of the five remaining Zonda R’, you may want to brush up on NHTSA’s “Show and Display” loophole...

Source: Pagani via Auto Car

Cash for Clunkers Pulled from Stimulus

WASHINGTON (Reuters) -- One proposal to help jump start U.S. auto sales was withdrawn late Thursday and the fate of another was unclear, despite a vigorous endorsement from President Barack Obama, as Senate consideration of economic stimulus legislation accelerated.

Sen. Thomas Harkin, an Iowa Democrat, pulled an amendment that would have provided $16 billion in rebates to buyers of new fuel efficient vehicles who traded in their old, poor performing models.

Harkin said he would defer the so-called "cash for clunkers" proposal, which had strong support from U.S. automakers.

Lobbyists for those companies this week called it a genuine stimulus for a depressed market. U.S. auto sales plunged to a 26-year low in January.

There was no backing, however, for the plan from foreign manufacturers whose operations are clustered in states represented by conservative Republicans.

The provision required that the vehicle be assembled in the United States, a nod to General Motors Corp (GM, Fortune 500), Chrysler LLC and Ford Motor Co (F, Fortune 500), all struggling financially and all based in economically hard-hit Michigan. Those companies' domestic operations are unionized.

Automakers and suppliers are pushing hard for additional help from Washington, which extended GM and Chrysler a $17.4 billion bailout in December.

The Treasury Department has extended domestic auto finance companies capital to help stimulate lending and is considering additional steps to unlock tight consumer credit.

Still, U.S. automakers are banking on additional assistance from Congress.

Lawmakers also are weighing proposals in and outside of stimulus legislation to fund battery research for plug-in hybrids and other alternative fuels.

Also under consideration in the Senate stimulus bill is a $600 million plan for the government to purchase tens of thousands of fuel efficient vehicles to replace inefficient models in the fleet.

Obama Thursday struck back at critics of the plan, saying that it would reduce gasoline consumption and help revive sales.

"It will not only save the government significant money over time, it will not only create manufacturing jobs for folks who are making these cars, it will set a standard for private industry to match," Obama said in an appearance at the Energy Department.

Senate Minority Leader Mitch McConnell called the new vehicle program wasteful spending.

"I doubt if the government buying $600 million worth of automobiles would provide the kind of stimulus that we're talking about here," McConnell said Sunday in an appearance on the CBS program "Face the Nation." To top of page

The Jobs Problem Nobody is Talking About

NEW YORK (CNNMoney.com) -- January was one of the worst months for layoffs ever, with nearly a quarter-million job-cut announcements grabbing headlines.

But the real problem in the U.S. labor market today isn't layoffs. It's a hiring freeze that is gripping most work places - and has not gotten nearly as much attention as the job cuts.

chart_job_freeze.03.jpg

"The hiring rate has caved. That's why the job market is as bad as it is," said Mark Zandi, chief economist with Moody's Economy.com. "Given this low hiring rate, unemployment would still rise even if layoffs were falling."

The government's key employment report, released Friday morning, doesn't detail hiring and job openings. It instead gives overall change in the number of workers on U.S. payrolls.

It was another terrible report, with employers shaving 598,000 jobs off of U.S. payrolls, the biggest drop in 34 years. The unemployment rate climbed to 7.6%, which was a 16-year high. Both results were worse than economists' forecasts.

But since 2000, the Labor Department has also tracked hiring, job openings and layoffs. And the most recent readings on those statistics show that the level of hiring and job openings has actually tumbled more than layoffs have soared.

Through November, the number of layoffs was up 17% from year-earlier levels. But the amount of workers who were hired during November was down 26%, and the number of job openings tumbled 30%.

While layoffs are likely up from the November levels, the hit to hiring has also gotten much more severe, according to experts. And that means that once people do lose their job, it's going to be even tougher to find a new one.

The Conference Board's tracking of online job listings shows a decline of more than 1 million listings in the last two months alone. That's a 23% decline in postings since November. The weakness in job postings is widespread, with only two states, North Dakota and Wyoming, having fewer unemployed people than advertised job openings.

During the last recession in 2001, there was not nearly as sharp a drop in hiring and job openings. In fact, the hiring and job opening rates, which compare new hires and openings to the overall number of workers, are both at their lowest level on record.

And economists say that even if the number of layoffs peaks soon, the pace of hiring and job openings may remain soft for months to come.

"The issue of hiring is often overlooked," said Gad Levanon, senior economist for The Conference Board. "But it's the key to the labor market. In the last recession, layoffs reached their peak in late 2001. But hiring didn't reach its lowest level until 2003, and that's when the job losses finally ended."

Andrew Reina, practice director for job placement firm Ajilon Finance Solutions, said hiring freezes are now the rule at most companies.

"A lot of our clients are looking at hiring freezes, certainly in the short term, and most likely through the first half of this year," he said.

Economist Robert Brusca of FAO Economics added that hiring freezes are an easier way for many companies to reduce work forces than layoffs, since even in bad times people will leave companies on their own.

And he said the hiring freezes won't end until companies have some confidence that the economy and demand for their products are ready to turn around.

"It's pretty clear that fear is running the show right now," he said. To top of page

Most Wanted Wii Games of 2009

MadWorld, Punch-Out, and Final Fantasy Crystal Chronicles lead the way for Wii this year.

By 1UP Staff

While you might consider the Wii to be that "baby game system," both developers and gamers can't ignore its phenomenal success. What's encouraging is that this year especially looks good for gamers who want to play more than bubbly party games on the system. Also, while we'd love to put down titles like "the next Zelda" or the long-rumored Kid Icarus remake on this list, we know too little about them to put them on the list. Other games we like, and would have put on if this list extended to 13, include Dead Rising: Chop Till You Drop, House of the Dead Overkill, and the Play on Wii version of Pikmin.

(Dis)agree with our picks? Participate in the official discussion board thread!

The Conduit

Sega | High Voltage Software

The Conduit

In the ocean of Wii Remote-flicking sports games and family-oriented minigame collections, The Conduit stands out for being an unabashed attempt to make a Wii title for core gamers. While its alien-blasting action may draw comparisons to Metroid Prime 3, from the demos we've seen, The Conduit seems to feature more of the moment-to-moment shootouts you'd find in, say, Perfect Dark. The developers at High Voltage take getting everything right so seriously, that they implemented options to customize just about every possible aspect of the controls, and you can even completely rearrange the display. With that degree of attention to detail, they might just be up to the challenge.

Fatal Frame 4: Mask of the Lunar Eclipse

Nintendo | Grasshopper Manufacture Studio

Fatal Frame 4: Mask of the Lunar Eclipse

Two words: Grasshopper Manufacture. For the fourth installment in Tecmo's horror franchise, it contracted the No More Heroes studio to handle the development duties. So what is Grasshopper bringing to the series? While you still fight spirits using your camera, this time around you use the Wii Remote and Nunchuk to aim your camera and flashlight, offering a far more immersive experience. So does it work? Well, the game's already received high marks in Japan, so that's a good sign. While it hasn't been formally confirmed for an American release, Nintendo published it in Japan, and we're optimistic that Nintendo of America is going to start talking about the U.S. release soon.

Final Fantasy Crystal Chronicles - Echoes of Time

Square Enix | Square Enix

Final Fantasy Crystal Chronicles - Echoes of Time

The plot to this latest loot/gear-fest isn't the most compelling (you're finding the cure for a young villager's "crystal sickness"), but it brings a ton of great improvements. Whether you're playing on Wii or DS (both versions are identical, though Wii players can import their Miis), you can now take your multiplayer sessions online. Conversely, you can now add up to three A.I. controlled (and customizable) CPU bots for your single-player adventures. Naturally, even more items and recipes have been added, as well as a 3D world map, and "New Game+" quests to undertake after completing the main story. If these additions add up to a game that's even more addicting than the first Crystal Chronicles on DS, then we've got many long nights ahead of us.

MadWorld

Sega | Platinum Games

MadWorld

On another console, MadWorld might look like any other fun, hyper-stylized brawler. But on the Wii, this bloody trip through a black-and-white city is one of the few games focused on an adult audience. Its über-violent moves give you plenty of ways to kill your opponents, and the controls are a little more sophisticated than just simple Wii Remote waggling. The game is unapologetically gory; whether you're tearing out a parking meter to jam through some brute's head or just punching someone, blood flies out of your enemy's bodies like candy from a piñata. It's definitely a mad world.

Monster Hunter 3

Capcom | Capcom

Monster Hunter 3

Monster Hunter is kind of like the classic rock band Cheap Trick: big in Japan, "whatever" everywhere else. But after what seems like dozens of semi-sequels and upgrades for PSP in Japan, Capcom is bringing the proper third title to the Wii. This experiment should reveal whether a franchise can sway its entire fanbase over to a different console, or if the console determines the franchises' success. Our money goes to the franchise (see also: Final Fantasy), and with so many Wiis out there, chances are, a lot of Japanese gamers will find themselves swinging their Wii Remotes like a broadsword at crazy monsters with their friends online. Whether that success is replicated over here remains to be seen, but the game already looks great, and plays quite nimbly with the Wii's controls.


Muramasa the Demon Blade

Marvelous Entertainment USA/XSeed Games | Vanillaware

Muramasa the Demon Blade

Certainly one of the stylistically-elite Wii titles, Vanillaware's action game takes the developer's distinctive visual panache, and combines it with a mythological Japanese theme and crazy-fast sword slashing. One concern coming out of Tokyo Game Show 2008 was that the combat felt a bit too simplified when compared to the developer's recent action-RPG, Odin Sphere, and we're definitely anxious to see how reflective the 10-minute demo is of the final game. Regardless, what little we've played so far was fun and undeniably beautiful.

No More Heroes 2: Desperate Struggles

Marvelous Interactive | Grasshopper Manufacture Studio

No More Heroes 2: Desperate Struggles

After all the death and destruction left in the wake of protagonist Travis Touchdown in last year's breakout hit No More Heroes, it seemed like it was wrapped up as well as it could be -- after all, what do you do once you reach the top of the assassin rankings? But developer Grasshopper Manufacture has apparently found a way, and will be bringing a sequel later this year, if all goes well. Reportedly, Desperate Struggle will take on a grittier tone that's centered on revenge and more reflective of its title. That sounds quite all right with us.

Punch-Out!!

Nintendo | Nintendo

Punch-Out!!

Nintendo's "Blue Ocean" philosophy means its most hardcore fans have to settle for revisiting the classics -- classic like Punch-Out!! This timeless boxing series has been practically forgotten since the Super NES days, so the fact that this Wii rendition looks to be a simple 3D remake of the NES hit probably won't dampen anyone's enthusiasm about Little Mac's return. Especially when said remake looks this faithful (we'll be disappointed if a 3D Doc doesn't urge us to join the Fun Club, though).

Sin & Punishment 2

Nintendo | Treasure

Sin & Punishment 2

For years North American gamers had no idea how cool Treasure's N64 action shooter was -- they'd only hear from their Japanese counterparts or lucky importers about what a great game they were missing out on. That all changed when the game finally saw a western release on Virtual Console (if you haven't checked it out yet, do so now!). Of course, Sin and Punishment 2 isn't just a N64 port -- it's a full-on Wii sequel. That means in addition to better visuals and bigger enemies to fight, you now use the Wii Remote to aim your firepower. Cool.

Wii Sports Resort

Nintendo | Nintendo

Wii Sports Resort

Now, now. Before you storm off in a huff, seriously think about Nintendo's sequel to its original pack-in minigame collection for a second. People around the globe are still playing Wii Sports two years after its launch, and we fully expect Wii Sports Resort to be a repeat performance. And it's not a lost cause for hardcore gamers either, since Resort will come with Wii Motion Plus packed-in, an intriguing little add-on device that's billed as the bringer of more accurate Wii Remote swinging. What that spells for the future of Wii games is unknown, but we're excited to test things out with this minigame sports sequel.

100TB of imagery added to Virtual Earth during January 2009

Throughout January 2009, Microsoft added about 100TB worth of imagery to Virtual Earth. Details on which countries were affected are inside.

100TB of imagery added to Virtual Earth during January 2009
Bucharest, Romania

Microsoft added 48 TB of imagery to Virtual Earth in December 2008, so it was quite a surprise to many when it looked like 2009 would only be starting off with new road data for North America, Europe, and Asia. Well that thought has been crushed with Virtual Earth's latest imagery release being a massive 100TB worth of data this month, according to Chris Pendleton. If memory serves correctly, that beats any month in 2008.

The countries that will see updates are as follows. For Obliques (Bird's Eye View), new images were added for France, Germany, Ireland, Italy, Netherlands, Romania, Spain, Sweden, the UK, and the US. High Resolution Orthos images were added for England, Greece, Japan, Norway, Portugal, Spain, and the US. Satellite images (the major part of this update), thanks to a deal Microsoft struck with DigitalGlobe in October 2008, were added for Albania, Bulgaria, Bosnia and Herzegovina, Brazil, Canada, China, Croatia, Estonia, Hungary, India, Lithuania, Moldova, Mexico, Montenegro, Panama, Poland, Romania, Russia, Serbia, Slovakia, Turkey, Ukraine, and South Africa.

To check out all the changes, head over to maps.live.com, choose 3D, and install the latest Virtual Earth 3D (Beta) software.

'Seuss-like' Sea Creatures Discovered

By LiveScience Staff


A newly identified species of carnivorous sea squirt lurks in the deep sea off Australia, where it traps and devours meaty prey swimming past.

The deep-sea resident, along with two other marine species that are new to science, were discovered by an international team of scientists during a month-long voyage aboard the research vessel RV Thompson to a marine reserve near Tasmania. The findings were announced today.

An expedition below the surface relied on the remotely operated submersible called Jason, which dropped to depths of more than 13,000 feet (4,000 meters).

"It was truly one of those transcendent moments," said the cruise's lead scientist, Jess Adkins of Caltech, referring to the descents made by Jason. "We were flying — literally flying — over these deep-sea structures that look like English gardens, but are actually filled with all of these carnivorous, Seuss-like creatures that no one else has ever seen."

During the voyage, researchers explored the so-called Tasman Fracture Zone within the Tasman Fracture Commonwealth Marine Reserve. Until now, scientists had only observed this zone to a depth of about 5,900 feet (1,800 meters).

Jason allowed scientists to peer much deeper into the abyss. That's where researchers spotted the new sea squirt, which is about 1.6 feet (half a meter) tall. The transparent organism is triggered to feed when a fish or other swimming snack touches the sea squirt. Similar to what happens in a Venus flytrap, the funnel-shaped section of the squirt's body traps and collapses around prey.

Sea squirts are considered tunicates, a type of marine organism with a rubbery outer covering called a tunic. The animal typically feeds by pushing water in and out of tiny tubes, filtering out bacteria and algae and other bits of food.

Other findings included newly identified species of barnacles and a sea anemone that's new to science and which the researchers called "the bane of our existence," because it looks just like a coral species the scientists were trying to collect.

In addition to surveying the life that exists in the area's deep sea, researchers hope to use the corals there to shed light on climate changes over the past 100,000 years or so.

The voyage was the second of two cruises taken by the team, which included researchers from the United States (including scientists from Caltech and the Woods Hole Oceanographic Institution in Massachusetts) and Australia's Commonwealth Scientific and Industrial Research Organization.

The research was funded by the National Science Foundation, CSIRO, the Commonwealth Environmental Research Facilities' Marine Biodiversity Hub, and the Australian Department of the Environment, Water, Heritage and the Arts.

Happy Van Damme Friday!!! Strike a pose!