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Revenge defintely needs to update there website like i stated before why in the world does he post pontaic cars on there website when they are discontinued???????? proof below for the non believers!!!
Pontiac, maker of muscle cars, ends after 84 years
DETROIT – The Pontiac name plate is is going out of business.
The General Motors brand was known for muscle cars drag-raced down boulevards, parked at drive-ins and roared across movie screens.
The 84-year-old brand has been moribund since GM decided to kill it last year as it collapsed into bankruptcy and was in decline for years before that.
It was undone by a combination of poor corporate strategy and changing driver tastes.
GM's agreements with Pontiac dealers expire Sunday.
Pontiac's sales peaked at about 1 million in 1968, when the brand's speedier models were prized for their powerful engines and scowling grills.
http://news.yahoo.com/s/ap/us_goodbye_pontiac
exactly audi just released the Audi A3 TDI is 2010 Green Car of the Year http://www.greencar.com/articles/audi-a3-tdi-2010-green-car-year-clean-diesel-reigns.php. Clean Diesel,mmmmmmmmmmmmmmmmmmmm how does peter plan to compete with a car like that??? NAIAS will be from jan 10-23 mmmmmmmmmmm will the car and engine be ready for the display???will people be able to view the interior of the car???? we shall see what excuse he comes up with for the this time.
interesting article let see if peter will meet this demand!!
62 mpg for new cars? It's the US target for 2025
Farther on a gallon: New cars, trucks may have to improve to 62 mpg by 2025, government says
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FILE - In this May 21, 2010 file photo, the 2011 Jeep Grand Cherokee rolls off the assembly line at the Chrysler Jefferson North Assembly Plant in Detroit. New models and Labor Day promotions didn't do much to fire Americans' appetites for new cars in September. Still, auto executives expect a modest recovery for the remainder of the year. (AP Photo/Carlos Osorio, file)
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{"s" : "f,mtlqq.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Ken Thomas, Associated Press Writer, On Friday October 1, 2010, 5:55 pm EDT
WASHINGTON (AP) -- Cars and trucks averaging 62 miles per gallon? Seems extraordinary now, but the government suggested Friday that automakers could be required to build lineups like that by 2025, making today's high-mileage hybrids seem conventional and turning gas guzzlers into mere relics.
It's all included in potential efficiency ranges the government is considering for new cars and trucks starting in 2017. By a decade and a half from now, in 2025, a carmaker's fleet of new vehicles may need to meet a standard somewhere from 47 mpg to 62 mpg, the Transportation Department and Environmental Protection Agency said.
Those mileage gains that would be the equivalent of an annual decrease in carbon dioxide emissions per mile of 3 to 6 percent.
The new standards, while several years away, are closely watched by the auto industry as it develops future vehicles and environmental groups trying to curb oil dependence and reduce greenhouse gas emissions. President Barack Obama has pushed for tougher fuel efficiency standards, and new rules could take on added significance if Congress is unable to pass energy legislation capping greenhouse gases blamed for global warming.
The government envisions gas-electric hybrids making up about half the lineup of new vehicles under the most aggressive standards, while electrics and plug-ins would comprise about 10 percent of the fleet.
After little progress during the past three decades, rules adopted earlier this year will lift the new vehicle fleet average to 35.5 mpg by 2016, an increase of more than 40 percent over current standards.
The administration's release on Friday of a technical analysis started the work on mileage standards for the 2017-2025 model years. The government intends to issue a proposal in September 2011 and a final rule by late July 2012.
The administration wants to "keep the momentum going to make sure that all motor vehicles sold in America are realizing the best fuel economy and greenhouse gas reductions possible," said Transportation Secretary Ray LaHood.
EPA Administrator Lisa P. Jackson said the next round of mileage standards "will accelerate the environmental benefits, health protections and clean technology advances over the long term."
Fuel efficiency standards are designed to improve gas mileage across each automaker's lineup and across the nation's entire fleet of new vehicles. Vehicles must meet differing standards based on their dimensions. Compact cars must get better mileage than sport utility vehicles, for example, but requirements for all types of vehicles will go up.
Friday's "notice of intent" provides an overview of the possible standards, describes the technologies that would be needed to achieve the goals and seeks feedback from the public. The two federal agencies plan to issue a second notice by Nov. 30 with an updated analysis of potential efficiency targets.
Environmentalists have sought requirements of at least 60 miles per gallon by 2025, arguing that more gas-electric hybrids, electric vehicles and cars and trucks with improved internal combustion engines and reduced weight could dramatically alter the cars and trucks Americans drive.
"The auto industry has 15 years to meet these new standards -- that's plenty of time to use innovation and technology to reach 60 miles per gallon," said Brendan Bell of the Union of Concerned Scientists' clean vehicles program.
Several states sided with the environmental groups. Governors from eight states -- New York, New Mexico, Maine, Oregon, Maryland, Pennsylvania, Massachusetts and Washington -- urged Obama in a letter Friday to set standards of 60 mpg by 2025.
Automakers, who plan their vehicle offerings years in advance, cautioned that pushing gas mileage standards up too quickly could force them to raise prices beyond the reach of many consumers.
Dave McCurdy, head of the Alliance of Automobile Manufacturers, which represents General Motors, Ford, Toyota and others, said many of the assumptions "are based on very preliminary and incomplete data at this point and inevitably will change as more information is brought to the process."
The Association of International Automobile Manufacturers, whose members include Toyota, Nissan, Honda and others, said the regulations need to balance issues such as environmental objectives, costs and meeting the needs of customers.
The documents estimate that the toughest efficiency standards under consideration would add up to $3,500 to the price of each vehicle. But under that scenario, owners would recoup their investment in three to four years and save up to $7,400 over the vehicle's lifetime.
If met, the targets would bring strong fuel efficiency to a larger number of vehicles. For example, a new Toyota Prius gets 50 mpg in city-highway driving combined and a Honda Civic hybrid gets 42 mpg in combined driving -- figures that would become much more common in 15 years.
Later this year, General Motors and Nissan will begin releasing mass-market plug-in electric hybrids and electric cars that get even better gas mileage, opening a new wave of options.
Parts suppliers who make the batteries, engines and other components are already planning for the changes. "Weight is the enemy of efficiency and that's why vehicle weight -- not vehicle size -- must be reduced significantly," said Randall Scheps, chairman of the Aluminum Association's transportation group.
Online:
U.S. Environmental Protection Agency: http://www.epa.gov/
National Highway Traffic Safety Administration: http://www.nhtsa.gov/
http://finance.yahoo.com/news/62-mpg-for-new-cars-Its-the-apf-61868960.html?x=0&sec=topStories&pos=4&asset=&ccode=
yeah petey needs to follow these guys if he wants revenge to rise!!!
3 Cars Win 100 MPG Race
The Progressive X-prize highlights fuel efficient technology.
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Buzz Up! By Peter Valdes-Dapena, senior writer
The X-prize Foundation showcases and rewards cutting-edge innovations in fields that have the potential to benefit humanity.
The Automotive X-prize is for fuel efficiency. Sponsored by the Progressive insurance company and partially funded by the Department of Energy, it was given in three different vehicle classes. Regardless of the class, the cars had to be safe, "commercially viable" -- meaning only that they had to perform more-or-less like a regular cars -- and they had to get at least 100 miles per gallon or the equivalent.
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» A first look at Chrysler's new 2011 lineup
The contest was launched in 2008. Beginning this summer, the 136 vehicles that entered -- representing 111 teams from around the world -- were winnowed down through a serious of tests. Besides fuel economy, cars were also tested for things like acceleration, braking, handling and maneuverability.
In the "Mainstream" class, which offered the biggest cash prize, vehicles were required to have four wheels, seat four people and have a driving range of at least 200 miles. In other words, they had to offer the bare basics of a typical car.
Edison2's Very Light Car No. 98
Edison2's Very Light Car No. 98Team from: Lynchburg, Va.
Class: Mainstream
Prize: $5 million
Fuel: E85 ethanol
Fuel economy: 102.5 MPG
Edison2, a team that fielded entries in all three classes, used a small internal combustion engine rather an electric motor or hybrid power. The car relied largely on its light weight -- no heavy batteries -- and its best-in-class aerodynamics to win the prize.
Li-ion Motors Corp.'s Wave II
Team from: Mooresville, N.C.
Class: Side-by-Side
Prize: $2.5 million
Fuel: Electricity
Fuel economy: 187 MPGe
Li-ion Motors Corp.'s Wave IIVehicles in this category seated two people side-by-side, as the name implies. They also had to go at least 100 miles before needing to refuel or recharge.
The winner, in this case, drew on the advantage of electric motors: their much greater efficiency compared to internal combustion engines. Electric motors turn nearly all the energy fed into them into motion. Gasoline engines turn only about 30% of gasoline's energy into motion while most ends up wasted as heat.
This car got 187 MPGe, or miles per gallon equivalent. In other words, it can go 187 miles on same amount of energy as that contained in one gallon of gasoline.
This Wave II also minimized one big disadvantage of electric drive: weight. Gasoline contains much more energy per cubic foot than batteries, so electric car batteries end up being big and heavy compared to a tank of gasoline. In this case, the car itself, built largely from aluminum, is so light that it all adds up to only 2,176 pounds total. That's less than a tiny Smart car.
Still, the Wave II takes almost 15 seconds to reach 60 miles an hour, good enough to win here but downright pokey by most standards.
X-Tracer Team Switzerland's E-Tracer No. 79
X-Tracer Team Switzerland's E-Tracer No. 79Team from: Winterthur, Switzerland
Class: Tandem
Prize: $2.5 million
Fuel: Electricity
Fuel economy: 205.3 MPGe
Cars in the "tandem class" were two-seaters with the occupants sitting one behind the other. In this case, you might question the use of the word "car" since this vehicle looks an awful lot like a motorcycle. It does have four wheels, though. It's just that two of them fold up and out of the way while driving, dropping down at low speeds to provide stability. It thus qualifies as a car under the X-prize rules.
Its bike-style body saves a lot of weight, which confers advantages in both efficiency and performance. In tests, this car got to sixty miles per hour in a relatively blistering 6.6 seconds.
http://autos.yahoo.com/articles/autos_content_landing_pages/1525/3-cars-win-100-mpg-race/
we shall see if peter can compete with ferrari yeahhhh right this article is complete shut down of the supercar, peter will never be able to compete with fastest car in the world!!!! we shall see what excuse he comes up with come this december and january for los angeles and detroit motor show!!!!
On the Track With the Ferrari 599XX
Getting Our Heads Around a 720-Hp Ferrari
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Buzz Up!0 votes By Steve Sutcliffe, Contributor | Photos by Stuart Price
2010 Ferrari 599XXTheoretically the 2010 Ferrari 599XX could be regarded as the greatest four-wheel folly of all time. After all, this is a car that will never be raced and must never be driven on the road. And since just 29 examples will be built over the next two years, you will almost certainly never see one. And did we mention that it costs $1.8 million?
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But this folly might be the most important Ferrari in 10 years. In fact, it could be the most important Ferrari for the next 10 years, because this car is a test bed for the new automotive technologies under development at Ferrari right now.
So think of the 2010 Ferrari 599XX as the Maranello company's prime research and development project, a kind of NASA space shuttle, only painted red. The 599XX will determine the course of Ferrari's evolution in the next decade, and do so in public, where we can all bear witness to the successes and failures.
Breaking the Sound Barrier
Among all the dynamic barriers broken by the 2010 Ferrari 599XX, one particular achievement stands out. And this is that the 599XX is a full 10 seconds quicker around the Ferrari test track than the exotic Ferrari Enzo, quite an accomplishment by a conventional front-engine, rear-wheel-drive automobile.
OK, so the 599XX runs on full racing slicks, 305/30R19 front and 325/35R19 rear Michelins. This probably accounts for 4 of the 10 seconds, but the remaining 6 seconds of speed come from more power, less weight, improved aerodynamics, an advanced braking system and an array of new electronic driving aids. In fact, the 599XX incorporates more racing technology than any car that has ever turned a wheel outside of a Formula 1 paddock.
It starts with the 599XX's 5,999cc V12, which has had its internals "super polished" to reduce friction, a measure that helps increase its output to 720 horsepower at 9,000 rpm and 505 pound-feet of torque at 6,500 rpm. The software for the automated manual transmission has been rewritten to produce slightly faster upshifts and much quicker downshifts, and it will shift down to whatever gear it thinks you need with just one pull on the paddle, just like a Formula 1 car. The lightweight carbon-ceramic brakes carry ferrous-iron brake pads for better modulation. Meanwhile, the car weighs just 3,153 pounds, so it has physics on its side.
The 599X also has aerodynamics on its side. We're not just talking about a few extra wings and skirts here and there. In the 599XX's trunk there is a pair of fans that actively suck air up and away from the rear aero diffuser between 30 mph and 155 mph, creating more downforce without adding more aerodynamic drag. The 599XX has 12 percent more downforce than a Ferrari 599 GTB Fiorano, yet it has 15 percent less drag, making it 30 percent more efficient overall aerodynamically.
2010 Ferrari 599XXThe driving aids are controlled by two small manettino dials that sit on the center stack of instruments, not on the steering wheel. One offers three different settings for the American-designed magnetorheological dampers, while the other lets you select from no fewer than nine different programs for the stability control, compared to five on the 599 GTB Fiorano. In this car, the driving aids are not safety measures but instead performance parts, meant to enable the driver to go as fast as possible.
You might just be able to match the stability control system for a couple of corners, but over an entire lap the electronics will win every time. And that's why the XX is half a second quicker around Fiorano with the system engaged, even in the hands of Ferrari's most skillful test driver.
More Drama, but Less Intimidation
Just like the 2005 Ferrari FXX, the modified Ferrari Enzo that tested much of the technology that later found its way to the Ferrari 458 Italia, the 599XX is meant to be used at Ferrari-sponsored track events where a phalanx of Ferrari mechanics will take care of the car, so you get pretty much the same deal that Fernando Alonso and Felipe Massa get on a Formula 1 race weekend.
It's a little nerve-racking to be strapped into the 599XX while a crowd of mechanics in scarlet overalls looks on, but this is very much how Ferrari wants you to feel. After all, the 599XX has as much downforce as a GT2-specification Ferrari F430 racing car for the 24 Hours of Le Mans and the same selection of driving aids as a 2007 Formula 1 car, so the experience should be hugely dramatic, very loud and mind-numbingly fast.
And yet the experience is not remotely intimidating. Quite the opposite, in fact. Inside the cabin, the 599XX feels like half road car, half racer, with a viselike bucket seat to hold you in position but also cargo pockets in the doors. On the dashboard you find a new feature called "Virtual Race Engineer." This is a big digital screen where the instruments would normally sit, and there are five different menus to scroll through, all meant to help you get the most out of the car.
Track Day
When you're accelerating in a straight line, the 2010 Ferrari 599XX feels almost impossibly fast (and sounds like it, too, thanks to the car's lightweight, titanium exhaust system). You don't bother with 1st or 2nd once you're up and running, and they're gone in a blur. Once in 3rd gear the V12 still picks up so cleanly and so quickly that you need to concentrate hard in order to keep from hitting the rev limiter. It gets to 100 km/h (62 mph) in 2.9 seconds and the overall gearing limits top speed to 196 mph.
But it's the 599XX's chassis and its various aero and electronic aids that make this Ferrari feel so otherworldly to drive. It's astonishing to find that you can throw the thing at a corner and then let the electronics guide you through, and yet you never feel as if the intervention of the electronics is very intrusive. Basically, you just aim it and the XX goes. Maybe there's a hint of understeer in tight corners, but otherwise the car feels neutral for the rest of the time.
2010 Ferrari 599XXOnce you reach the middle of a corner you can open up the throttle 100 percent and simply wait for the system to decide when there's enough traction to actually deliver full throttle. As it monitors the slip angle of the car as well as other dynamic parameters, the car then gradually gives you more power, but only when it knows it is capable of getting that power to the road. And then, presto, you exit the corner perfectly, with precisely the right amount of adhesion.
Get used to the way it works and you can dial down the level of electronic assistance and perform perfect drifts — not the big, dramatic ones that photographers like, but instead the small, efficient ones that stopwatches prefer. And there's none of the terror normally associated with throwing a 720-hp car sideways.
The XX Experience
Driving the 2010 Ferrari 599XX really is an otherworldly experience, one that a few lucky people are going to enjoy on a level that's never been available before outside of a Formula 1 car.
And if you think the $1.8-million price still sounds a bit steep, bear in mind that Ferrari will throw in two free track test sessions per year with the asking price, complete with full technical backup, plus a ticket to its end-of-year Ferrari bash at Mugello. And you get to become a Ferrari development driver as well.
To be honest, though, the 2010 Ferrari 599XX itself is priceless, as is the driving experience it offers. The other stuff is just a bonus.
http://autos.yahoo.com/articles/autos_content_landing_pages/1517/on-the-track-with-the-ferrari-599xx/
wow are you serious an electric, how many prototype cars will he come out with before this company does anything real?????? pete doesnt have a chance on reviving this company unless something really dramatic changes, for example issuing financials when and if ever this company ever makes any money!
wowwwwww how does peter plan to compete with a car like this one????????
The Rebirth of the Supercar
The Porsche 918 Spyder hybrid concept combines three electric motors with a 3.6-liter V8 to achieve 500 hp — and a jaw-dropping 78 mpg.
By Greg Kable of AutoWeek
Click to enlarge picture
Porsche's 918 Spyder concept hybrid combines a 3.6-liter V8 and three electric motors.
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Lots of concept cars are like those gratuitous flings you had back in college: loads of initial excitement that rarely leads anywhere particularly meaningful. And when you meet again, you wonder what you ever saw in them.
The Porsche 918 Spyder, however, is different. Conceived as a successor to the company's exalted Carrera GT, the new two-seater points the way to an advanced performance flagship that, if company chairman Michael Macht has his way, will be ready to begin wooing customers in production guise within three years.
Revealed at the Geneva Motor Show, the 918 Spyder lays down a template for the future of the supercar in an age of heightened environmental awareness under Porsche's broad-based Intelligent Performance initiative. That initiative has spawned the wild 911 GT3 R hybrid race car.
In addition to a conventional gasoline engine, the dramatically styled 918 Spyder uses a trio of electric motors powered by a bank of lithium-ion batteries for four-wheel-drive propulsion as part of Porsche's first real foray into contemporary hybrid-drive systems.
With a 0-to-62-mph time of just 3.2 seconds, the new Porsche not only possesses straight-line performance matched by only a handful of conventionally powered supercars on sale today, but it also returns consumption of a combined 78 mpg on the European cycle, making most compacts appear thirsty.
Porsche's computer simulations suggest that the 918 Spyder will be able to lap the Nurburgring marginally faster than the Carrera GT, at 7.5 minutes.
Ask Macht what makes Porsche's latest concept so special, and he doesn't mince words: "It provides an emphatic answer to whether there can be high-performance supercars in the future. Many have said they are finished. This car shows they are not."
Created in six months after an official go-ahead last September, the 918 Spyder went from drawing board to concept car faster than any previous Porsche. Based around a lightweight carbon-fiber monocoque — to which engineers attached an intricate carbon-fiber engine cradle similar to that on the Carrera GT — the 918 Spyder's design also hints at the modern appearance we'll see on a whole new generation of Porsche models.
"We wanted to provide a glimpse of what our customers can expect in the future, not just on a supercar but other models in the lineup. There are a number of styling elements, in both the exterior and interior, that will be fully reflected on our road cars in the years to come," says design boss Michael Mauer.
At 177 inches long and just 43 inches tall, the 918 Spyder is five inches shorter and three inches lower but exactly the same width, 76 inches, as the Carrera GT. Its wheelbase of 104 inches is two inches shorter than Porsche's last limited-production road racer. Despite its apparent compactness, Porsche says its new car actually offers more space than the Carrera GT for its two occupants, an 18.5-gallon fuel tank behind the cabin and a luggage compartment up front in the nose.
The real attraction, however, is the advanced driveline. The gasoline-electric system includes a 90-degree, naturally aspirated, 3.6-liter V8 gasoline engine mounted behind the cabin in a classic midship layout. It is derived from the engine used to power the company's successful RS Spyder ALMS race cars but has been thoroughly redeveloped at Porsche's hallowed Weissach engineering center, with added capacity and various modifications aimed at providing greater durability.
Porsche isn't revealing a lot of details right now, but it does claim that the new engine can reliably rev to 9,200 rpm and is producing about 500 hp on the test bed, giving the 918 Spyder a specific output of 139 hp/liter. In a sign of things to come, the engine's efforts are supported by a trio of brushless electric motors that together are claimed to muster a further 218 hp.
Two motors sit within the front axle to provide individual drive to the front wheels. The third motor is mounted within the housing for the seven-speed dual-clutch gearbox, where it drives the rear wheels via an electronically controlled torque-vectoring clutch and a limited-slip differential.
Electrical energy for each motor is drawn from a bank of air-cooled lithium-ion batteries with overall capacity of 5.1 kilowatts per hour which sit low directly behind the seats for an optimal center of gravity. In pure electric mode, the range is about 16 miles. Recharging is via conventional means, but Porsche claims a high-amp system will provide a rapid two-hour fill-up.
Because of the differences in the operating programs for the gasoline engine and each electric motor, it's not just a simple process of adding the 918 Spyder's two horsepower figures together to arrive at a combined output. Porsche does claim a weight-to-power ratio of 4.8 pounds per hp. With claimed curb weight of 3,285 pounds, this points to a peak around 680 hp, 30 hp more than the Carrera GT's 5.0-liter V10.
Yes, the 918 Spyder is only a concept. But it is clearly destined to play a prominent role in Porsche's future road-car lineup. "There is no one inside Porsche who doesn't want to build this car," says Macht.
The version of the 918 Spyder we'll see in three years, running down the line at the Leipzig factory in Germany next to the Cayenne and the Panamera, hasn't been fully defined. Macht indicates it could follow the open-top layout of the concept car or gain a fixed roof to improve overall aerodynamics. "As soon as we start to receive feedback, we'll push on with the hard decisions," he says.
http://editorial.autos.msn.com/article.aspx?cp-documentid=1140607&icid=autos_0770>1=22021
GM takes on subprime car loans but it's less risky
General Motors, looking to expand in subprime car loans, agrees to buy AmeriCredit for $3.5B
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FILE - In this file photograph taken June 1, 2009, an American flag flies in front of the General Motors, Global Headquarters in Detroit, Michigan. General Motors Co. will buy AmeriCredit Corp. for $3.5 billion, a deal that allows the automaker to expand loans to customers with poor credit and offer more leases, key areas where GM must grow to accelerate its car sales.(AP Photo/The Canadian Press, Dave Chidley, file)
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{"s" : "acf,an,f,mtlqq.pk","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Tom Krisher and David Pitt, AP Business Writers, On Thursday July 22, 2010, 7:03 pm EDT
DETROIT (AP) -- General Motors is getting into the subprime lending business. And that means taxpayers are, too.
But these car loans aren't as risky as you might think.
GM, majority owned by taxpayers, is buying a company that makes car loans to shoppers with poor credit. Unlike home loans, though, the risk in subprime auto lending is relatively low and may reward GM. The company hopes to boost sales by making loans and leases to buyers that it must now turn away for lack of financing.
GM will pay $3.5 billion in cash for AmeriCredit Inc., a Fort Worth-based company with 800,000 customers and a $9 billion portfolio of subprime auto loans. GM's purchase will be made out of its $30 billion cash stockpile, one that is funded in part by the government.
AmeriCredit had already been helping GM with subprime loans, which now amount to 4 percent of the car company's sales. GM Chief Financial Officer Chris Liddell expects that to grow by a percent or two, a significant number considering that GM is on pace to sell over 2 million cars and trucks in the U.S. this year.
About 40 percent of U.S. customers have below prime credit scores, Liddell said. "Clearly there's an opportunity to bring more people into our showrooms and help them with finance."
Dealers and GM executives have complained for months that they're losing business because many customers can't get loans or leases.
Historically, the loan approval rate for borrowers with poor credit -- those with scores below 620 -- ran about 60 percent. Now, it's running at 9 percent.
"(GM) absolutely needed to add this segment of the market to meet the needs of the customers coming into our dealerships," Mike Jackson, CEO of AutoNation Inc., the largest auto dealer chain in the U.S., said after the deal was announced Thursday.
Customers with poor credit couldn't get an in-house loan from a GM dealer and faced additional hurdles to secure financing from an outside bank. Although access will improve, ultimately loans may not become easier to obtain because AmeriCredit will likely stand by its current lending criteria, said Melinda Zabritski, director of Automotive Credit at Experian, a credit reporting agency.
Toyota and Ford have their own finance companies, which enable them to offer sweeter deals. GM lost its ability to finance cars at cheaper interest rates when it sold control of its finance arm four years ago.
Auto lending, compared with other consumer loans, is fairly low risk. Banks or finance companies can repossess cars if owners stop paying. Drivers who fall behind on bills tend to pay their car payments ahead of other debt because they need transportation to get to work.
Fewer borrowers are falling behind on their car loans than a year ago, according to Experian. The 30-day delinquency rate hasn't changed dramatically in the last year, and currently remains below 3 percent for all auto loans. Auto repossessions for banks remain low at less than 1 percent of loans.
Under the deal, GM will pay $24.50 for each share of AmeriCredit, a 24 percent premium over Wednesday's closing price. Investors were happy with the deal, pushing up shares of AmeriCredit by more than 21 percent, to $23.91 on Thursday.
The sale, subject to AmeriCredit shareholder approval, is expected to close in the fourth quarter.
AP Auto Writer Dan Strumpf in New York contributed to this report.
http://www.reuters.com/article/idUSN1326039720100713
Ethanol tax break may ride on U.S. energy bill
Digg This Tweet ThisShare on LinkedIn Share on FacebookFactboxesFactbox: Key players in final hurdle for Wall St bill
Mon, Jul 12 2010
FACTBOX: Senate weighs Obama's small business plan
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Tue, Jul 13 2010
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WASHINGTON | Tue Jul 13, 2010 4:16pm EDT
WASHINGTON July 13 (Reuters) - Senators from the U.S. Midwest may attach a long-term extension of biofuel tax breaks to an energy bill being formulated by Democratic leaders.
Senator Amy Klobuchar of Minnesota mentioned the idea of linking the issues during a speech on Tuesday to soybean growers. Two ethanol spokesmen and a Capitol Hill source said the approach was possible, but not guaranteed.
Senate Majority Leader Harry Reid planned to meet five committee chairmen this week to see if an energy bill, or a climate bill, can be fashioned from various proposals. Congress has a relatively limited amount of time to act this year with mid-term elections looming.
A $1-a-gallon tax credit for biodiesel lapsed at the end of 2009 and major ethanol incentives, including a blender tax credit and a tariff on imported ethanol, expire at the end of this year. Ethanol proponents say they want a long-term legislative solution, besides promoting short-term fixes in stand-alone bills.
The tax breaks are worth $6 billion a year, say critics. They include a 45-cent-a-gallon tax credit for gasoline blenders, a 54-cent-a-gallon tariff on imports, a $1.01-a-gallon credit to cellulosic ethanol producers, and a 10-cent-a-gallon small-producer tax credit for ethanol.
Using corn as feedstock, ethanol makers distilled more than 10.75 billion gallons of the renewable fuel in 2009. The largest makers are Archer Daniels Midland (ADM.N), privately owned POET and Valero Energy Corp (VLO.N).
Klobuchar said strong biofuels provisions should be part of a revamped energy bill. A Capitol Hill source said the energy bill was a possible vehicle for biofuels, but cautioned there was no consensus on a bill.
Although the House and Senate have voted to revive the biodiesel credit as part of a so-called tax extender bill, they have not agreed on the same piece of legislation. The bill has foundered on growing concern in the Senate to rein in federal spending.
The biodiesel credit may also be offered as an amendment to a small-business bill. Klobuchar said a new vote on the credit could be called soon after a replacement is named for the late Senator Robert Byrd of West Virginia. (Reporting by Charles Abbott; Editing by Walter Bagley)
interesting article anyone know what happened to rvgd and poet contract?????????????????
I agree 100% its about time they do something this gas is getting out of hand!!
Interesting article
The End of the Gasoline Age
By John Rosevear
May 28, 2010 | Comments (10)
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Berkshire Hathaw
Rate BRK-B CAPS Rating 5/5 Stars . $71.21 $0.66 (0.93%)
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BROWSE ALL BRK-B ARTICLES
Disney Buys Marvel!
David Gardner called it. He’s up 1,334%! See what David’s recommending that you buy NEXT.
•Click Here Now
All of a sudden, the auto industry's movement toward electric vehicles (EVs) has become a stampede. Toyota's (NYSE: TM) plan to invest $50 million in Silicon Valley's Tesla Motors got a lot of attention when it was announced last week, but there's much more going on. This is clearly a moment when established global players, emerging-markets powers, and brand-new startups are all rushing in to what seems more and more likely to be a historic shift to electrified transportation.
They're rushing to claim more than just market share -- governments around the world are dishing out subsidies, hoping to speed the transition to a less-oil-dependent future. Here in the U.S., House and Senate leaders, accompanied by representatives from battery maker A123 Systems (Nasdaq: AONE) and start-up EV maker Bright Automotive, just introduced an $11 billion plan intended to speed the development of infrastructure needed to support the mass adoption of EVs.
As drafted, the bill would provide up to $1 billion for as many as eight "deployment communities" -- cities and regions that pledge to use the funds to establish public charging stations and other EV-specific infrastructure. Few such stations exist now, but they're seen as key to mass EV adoption, and their development -- along with other infrastructure, such as beefed-up power transmission networks -- is becoming a priority.
A global shift
The U.S. government has been offering alt-fuel-related incentives for years, but they're not alone. Japan's clean-car incentives program has driven Toyota's Prius to the top of that country's sales carts, and China is widely expected to offer incentives to clean-car buyers in the near future.
That latter expectation is probably behind the joint-venture deal that Mercedes-Benz's corporate parent Daimler (NYSE: DAI) just announced with Chinese battery-and-auto-maker BYD. The two companies are expected to release a jointly developed car in the near future, likely a Daimler-enhanced version of BYD's all-electric e6.
BYD, which is partly owned by Warren Buffet's Berkshire Hathaway (NYSE: BRK-B), has previously said that it will launch the e6 in the U.S. by the end of this year, joining a long list of automakers promising new EVs by late this year or early 2011.
A whole lot of Leafs
Speaking of EVs due in late 2010, Nissan (OTC: NSANY.PK) on Thursday announced a $1.7 billion investment in a new lithium-ion battery factory in Smyrna, Tenn. When it opens in 2012, the plant will be able to supply battery packs for up to 200,000 vehicles annually -- and right next door is an assembly plant that will be able to produce up to 150,000 all-electric Nissan Leafs a year.
While Nissan probably isn't expecting those kinds of volumes initially -- CEO Carlos Ghosn recently said that the U.S. allocation of 2011 Leafs is already sold out, at 13,000 -- 150,000 Leafs a year is an ambitious number. Nissan is clearly counting on volume to make a reasonable profit at its announced $33,000 price for the Leaf. And they're counting on more than that -- the size of the new battery plant suggests that the Leaf will be joined by other Nissan EVs in the not-too-distant future.
Nissan wasn't the only automaker announcing a battery-plant investment this week -- Ford (NYSE: F) and start-up CODA Motors announced smaller, but similar, investments in plants in Detroit and Ohio, respectively. CODA is a southern California-based start-up that is planning to bring a Chinese-made electric four-door sedan to the U.S. market. When? You guessed it -- late this year.
Whether CODA delivers or not, it's clear that EVs are about to hit the mainstream in a big way.
But will any of these cars be fun to drive?
Just in case you horsepower fiends were starting to despair, imagining a future of shoebox-sized cars that sound like sewing machines and look like they were designed by Birkenstock, take heart: According to a report in the U.K.'s Auto Express, Volkswagen's super-mega high-end Bugatti division -- builders of the $1-million-plus 250-mph-plus Veyron supercar, a leading over-the-top status symbol among car-mad hedge fund managers worldwide -- has built an 800 horsepower electric sports car prototype.
It is unclear whether the car, said by someone close to the project to have "absolutely unbelievable" acceleration, will ever see production -- but if it does, expect drop-dead styling, mind-blowing performance ... and a seven-figure price tag.
Love this article? Get our best articles delivered direct to your inbox at no cost. Sign up for Foolwatch Weekly by entering your email below.
Fool contributor John Rosevear wonders how long it'll be until Chevy builds an electric Corvette that's as fast as that Bugatti. He owns shares of Ford. Berkshire Hathaway is a Motley Fool Inside Value recommendation. Berkshire Hathaway and Ford are Motley Fool Stock Advisor choices. The Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.
Read/Post Comments (10) | Recommend This Article (13)
Interesting article
The End of the Gasoline Age
By John Rosevear
May 28, 2010 | Comments (10)
Recs
13 Email
Share
Print
Back to Yahoo!
ShareThisBRK-B
Berkshire Hathaw
Rate BRK-B CAPS Rating 5/5 Stars . $71.21 $0.66 (0.93%)
More about BRK-B
The Unlikeliest Dividend Play
Venture Mechanics Opens "Berkubator" for Tech Startups
BROWSE ALL BRK-B ARTICLES
Disney Buys Marvel!
David Gardner called it. He’s up 1,334%! See what David’s recommending that you buy NEXT.
•Click Here Now
All of a sudden, the auto industry's movement toward electric vehicles (EVs) has become a stampede. Toyota's (NYSE: TM) plan to invest $50 million in Silicon Valley's Tesla Motors got a lot of attention when it was announced last week, but there's much more going on. This is clearly a moment when established global players, emerging-markets powers, and brand-new startups are all rushing in to what seems more and more likely to be a historic shift to electrified transportation.
They're rushing to claim more than just market share -- governments around the world are dishing out subsidies, hoping to speed the transition to a less-oil-dependent future. Here in the U.S., House and Senate leaders, accompanied by representatives from battery maker A123 Systems (Nasdaq: AONE) and start-up EV maker Bright Automotive, just introduced an $11 billion plan intended to speed the development of infrastructure needed to support the mass adoption of EVs.
As drafted, the bill would provide up to $1 billion for as many as eight "deployment communities" -- cities and regions that pledge to use the funds to establish public charging stations and other EV-specific infrastructure. Few such stations exist now, but they're seen as key to mass EV adoption, and their development -- along with other infrastructure, such as beefed-up power transmission networks -- is becoming a priority.
A global shift
The U.S. government has been offering alt-fuel-related incentives for years, but they're not alone. Japan's clean-car incentives program has driven Toyota's Prius to the top of that country's sales carts, and China is widely expected to offer incentives to clean-car buyers in the near future.
That latter expectation is probably behind the joint-venture deal that Mercedes-Benz's corporate parent Daimler (NYSE: DAI) just announced with Chinese battery-and-auto-maker BYD. The two companies are expected to release a jointly developed car in the near future, likely a Daimler-enhanced version of BYD's all-electric e6.
BYD, which is partly owned by Warren Buffet's Berkshire Hathaway (NYSE: BRK-B), has previously said that it will launch the e6 in the U.S. by the end of this year, joining a long list of automakers promising new EVs by late this year or early 2011.
A whole lot of Leafs
Speaking of EVs due in late 2010, Nissan (OTC: NSANY.PK) on Thursday announced a $1.7 billion investment in a new lithium-ion battery factory in Smyrna, Tenn. When it opens in 2012, the plant will be able to supply battery packs for up to 200,000 vehicles annually -- and right next door is an assembly plant that will be able to produce up to 150,000 all-electric Nissan Leafs a year.
While Nissan probably isn't expecting those kinds of volumes initially -- CEO Carlos Ghosn recently said that the U.S. allocation of 2011 Leafs is already sold out, at 13,000 -- 150,000 Leafs a year is an ambitious number. Nissan is clearly counting on volume to make a reasonable profit at its announced $33,000 price for the Leaf. And they're counting on more than that -- the size of the new battery plant suggests that the Leaf will be joined by other Nissan EVs in the not-too-distant future.
Nissan wasn't the only automaker announcing a battery-plant investment this week -- Ford (NYSE: F) and start-up CODA Motors announced smaller, but similar, investments in plants in Detroit and Ohio, respectively. CODA is a southern California-based start-up that is planning to bring a Chinese-made electric four-door sedan to the U.S. market. When? You guessed it -- late this year.
Whether CODA delivers or not, it's clear that EVs are about to hit the mainstream in a big way.
But will any of these cars be fun to drive?
Just in case you horsepower fiends were starting to despair, imagining a future of shoebox-sized cars that sound like sewing machines and look like they were designed by Birkenstock, take heart: According to a report in the U.K.'s Auto Express, Volkswagen's super-mega high-end Bugatti division -- builders of the $1-million-plus 250-mph-plus Veyron supercar, a leading over-the-top status symbol among car-mad hedge fund managers worldwide -- has built an 800 horsepower electric sports car prototype.
It is unclear whether the car, said by someone close to the project to have "absolutely unbelievable" acceleration, will ever see production -- but if it does, expect drop-dead styling, mind-blowing performance ... and a seven-figure price tag.
Love this article? Get our best articles delivered direct to your inbox at no cost. Sign up for Foolwatch Weekly by entering your email below.
Fool contributor John Rosevear wonders how long it'll be until Chevy builds an electric Corvette that's as fast as that Bugatti. He owns shares of Ford. Berkshire Hathaway is a Motley Fool Inside Value recommendation. Berkshire Hathaway and Ford are Motley Fool Stock Advisor choices. The Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.
Read/Post Comments (10) | Recommend This Article (13)
ROYALTY DIVIDENDS????? PRESS RELEASE
Press Release Source: Revenge Designs Inc. On Wednesday May 12, 2010, 12:23 pm EDT
DECATUR, IN--(Marketwire - 05/12/10) - Revenge Designs Inc. (Pinksheets:RVGD - News)
Revenge Designs Inc. is announcing the withdrawal of all support and funding to Hp2g llc, due to numerous requests for third party validations to the claims of their 110mpge Hp2g engine. Revenge Designs was informed the patents were in place in late 2009. Since then Revenge Designs has requested documentation for the third party testing to no avail. Revenge Designs finds this to be unacceptable.
As this powertrain was only an option, the RCS Blade Supercar is headed for production in 2011 with the proven technology and reliability of America's top two powertrains -- the GM Performance 638hp and the Ford Performance 605hp supercharged and highly fuel efficient engines. Revenge Designs will continue to support and assist with the development of proven alternate fuel and powertrain options.
Revenge Designs is proud to have designed a world class Supercar which received recognition by the EyesOn Design awards earlier this year. The funds needed to take such an exciting project to the world are extensive. Therefore Revenge Designs will remain the Design Company with the production of the RSC Blade Supercar being produced by Revenge Supercars Inc. which is in the process of securing the extensive funds needed.
Revenge Designs will receive a royalty dividend for each vehicle produced and as it stands the first production run is scheduled for 4000 vehicles. The amount of royalty dividend will be announced at a later date. Revenge Designs will also receive said dividend for all present and future designs that go into production.
Revenge Designs will be continuing with all aspects of the company as it moves forward with continued success.
"SUCCESS IS THE ULTIMATE REVENGE"
Revenge Designs Inc., a specialty car designer and production assembler, is headquartered in a facility in Indiana. Mr. Peter Collorafi is a designer from Queensland, Australia. Mr. Collorafi has been designing and installing custom modifications for factory produced vehicles since 1980. Their products include the Revenge Solstice, Revenge Ridgeline and the award winning Revenge GTO. For more information please contact 260 724 4000, team@revengedesignsinc.com and http://www.revengedesignsinc.com/
does anyone know what happened to hp2g website, it seems like it not up anymore??? what happened to doug?????
well everyone should check out the website now, seems like revenge is on the roll, especially since there seems to be new production care called Revenge Blade
I agree 100%
your not the only one, i defintely wanna see what all the hype was about but so far so good with the picture drawing from december issue have to wait to see tuesday morning ..........
http://www.motorauthority.com/blog/1041449_2010-detroit-auto-show-americas-revenge-verde-supercar
2010 Detroit Auto Show: America’s Revenge Verde Supercar
Viknesh Vijayenthiran January 10th, 2010
By Viknesh Vijayenthiran
Car Expert
January 10th, 2010
Articles Contributed: 3398Comments Posted: 0Leaderboard Rank: N/A705 Views
1 Comment
10 Share
January 10th, 2010 You may recall that at last year’s Detroit Auto Show, America’s Revenge Designs, a tuner of GM products turned niche auto manufacturer, unveiled its GTM-R supercar based on the Factory Five GTM platform. For the 2010 Detroit Auto Show, which kicks off this week, Revenge Designs is set to unveil a brand new supercar called the Verde, which is previewed here in this official teaser. The new Verde will eventually have a pricetag of $180,000 when it goes on sale in July. Comparing the car to the Lamborghini Gallardo, which costs upwards of $250,000, Revenge Designs CEO Peter Collorafi said: "That Gallardo's clutch will run $16,800 to repair. Ours will be done with domestic vendors and labor and run $3,200. That's a niche we want to fill." Two different powertrains will eventually be offered for the Verde supercar: a regular V-8 and an advanced gasoline-electric V-8 hybrid dubbed the HP2ge. This latter unit is claimed to return a fuel-economy of up to 110 mpg while developing a peak output of 400-horsepower and 500-pound-feet of torque. Revenge Designs is hoping its new supercar will be able to gather enough international attention that the company will eventually be able to start exports. [Revenge Designs via WorldCarFans]
Revenge Verde supercar teaser
Enlarge Photo
You may recall that at last year’s Detroit Auto Show, America’s Revenge Designs, a tuner of GM products turned niche auto manufacturer, unveiled its GTM-R supercar based on the Factory Five GTM platform.
For the 2010 Detroit Auto Show, which kicks off this week, Revenge Designs is set to unveil a brand new supercar called the Verde, which is previewed here in this official teaser.
The new Verde will eventually have a pricetag of $180,000 when it goes on sale in July. Comparing the car to the Lamborghini Gallardo, which costs upwards of $250,000, Revenge Designs CEO Peter Collorafi said: "That Gallardo's clutch will run $16,800 to repair. Ours will be done with domestic vendors and labor and run $3,200. That's a niche we want to fill."
Revenge Verde supercar teaser
Enlarge Photo
Two different powertrains will eventually be offered for the Verde supercar: a regular V-8 and an advanced gasoline-electric V-8 hybrid dubbed the HP2ge. This latter unit is claimed to return a fuel-economy of up to 110 mpg while developing a peak output of 400-horsepower and 500-pound-feet of torque.
Revenge Designs is hoping its new supercar will be able to gather enough international attention that the company will eventually be able to start exports.
[Revenge Designs via WorldCarFans]
how can being on the OTCBB be more transparent than NYSE?i beg to differ, you have to release all information such as financial documentation to SEC it mandatory and law, this would stop all the bashers if REVENGE was on NYSE or NASDAQ, but we have to wait and see what peter does with this company, since there are two subsidaries now.
does anyone know if this company will be bought out by SHELL????
ask Peter when will Revenge move from pinksheets to Nasdaq? or NYSE??
your right dog if revenge designs can move to otcbb or even move to nasdaq or nyse this will streamline the entire operation and give transparency and show financials to stockholders, also bashers wont be able to say anything because evidence will show rvgd will show revenue if they can move away from pinksheets!!
IPO
which means Inital public offering, revenge is pink sheet company so they have not fully release all their financial information to the public, so after they are able to generate cash flow (when Verde is released)they should switch from Pinkyland to IPO on NYSE so financing will not be a problem.
revenge should become an IPO in 2010??
Initial public offering can be an excellent way for a corporation to raise a large amount of capital. In an initial public offering, a corporation’s shares are made available to the general public, thus providing a substantial influx of cash. The term applies only the first of such offerings, and any later offerings are referred to as secondary market offerings.
The benefits of an initial public offering are numerous. In addition to the financial gains, a company that decides to go public will also increase their public awareness and credibility.
Since public companies are more carefully and closely monitored than private companies, many investors feel that that they make for more stable investments. This increased demand is reflected in a higher overall valuation of the company. In addition, media outlets are generally more willing to cover public companies, so publicity generally increases.
Going public also increases the liquidity of company shares, further increasing the value of the company. At the initial public offering, a market is created for the company’s shares, allowing investors to trade freely. That freedom to sell as necessary lowers the risk involved in holding shares, thereby increasing value.
For a company that has difficulties attracting and retaining quality employees, going public can offer another form of compensation. While shares of a company can certainly be offered as compensation by private companies, they are even more valuable when they have the liquidity and stability that comes with going public. In addition to increasing morale, stock options help to align the incentives of employees to those of the company.
The owner of the business may enjoy similar benefits after going public. His or her shares immediately take on a liquid, easily calculated value. While there are restrictions on when those shares may be traded, the overall value of the owner’s percentage should increase after the initial public offering. In fact, many business owners decide to go public as an exit strategy. Once the company is public and shares can be sold, it becomes much easier to remove oneself from ownership.
For all the benefits of an initial public offering, the process is not without its drawbacks. Those who enjoy the autonomy of owning a private company may not enjoy having to answer to shareholders after going public. Instead of acting purely in the interest of the company’s long-term well-being, management may feel pressured to take actions to maximize immediate returns.
Lack of control doesn’t end with management decisions. The decision to go public can also leave a company vulnerable to hostile takeover if insiders don’t retain a sufficient percentage of outstanding shares. Although extremely rare to occur, for that reason, some companies choose to restrict the number of shares issued. While this is effective, it also limits the total capital raised. As an alternative, other corporations issue shares with voting restrictions. These restricted shares are valued less than unrestricted shares, so this scenario also raises a smaller amount of capital.
Even before the initial public offering is complete, it can have some negative effects on the corporation. The process of going public is both time-consuming and expensive, and can divert employees from day-to-day activities. It’s not unusual for underwriting fees and related expenses to cost 10-20% or more of the total funds generated by the offering.
After the initial public offering takes place, higher expenses continue in the form of increased reporting requirements. Taxes become more complicated, required disclosures increase, and the company becomes subject to a host of SEC requirements regarding activity of the company and its executives.
While an initial public offering isn’t right for every company, the decision to go public is certainly appropriate for many. If a corporation can shoulder the burdens of additional expenses and profit-driven stockholders, it’s certainly an option worth pursuing. The major influx of cash that going public can provide might be just what it takes to bring a company to the next level.
http://www.publicfinancial.com/articles/initial-public-offering
mmmmmmmmm should rvgd go public??
GOING PUBLIC / INITIAL PUBLIC OFFERINGS (IPO’s)
HOME PAGE Firm Services Financing Tips Going Public Business Plans Private Offerings Capital Sourcing Books Links & Clubs Tips/Notes Reverse Mergers DPOs
(This section contains 3 pages)
The principals of Venture Associates are consultants and coaches to CEOs, their management teams and Boards in taking companies public - initial public offerings or IPOs. If you have questions, we probably have the answers, because we have been there dozens of times. We invite your questions, simple or sophisticated. We would be pleased to determine if we can assist you in your potential quest of taking your company public.
Are you raising money from private investors? - Preparation of Private Placement Documents
--------------------------------------------------------------------------------
The preface to this section is by James B. Arkebauer, founder of Venture Associates, and author of the book, GOING PUBLIC - Everything You Need to Know to Take Your Company Public, Including Internet Direct Public Offerings (Dearborn Financial Publishing - 348 pages - $29.95). Review the Detailed Table of Contents. This book has been called the bible on the topic of taking a company public.
--------------------------------------------------------------------------------
I've dealt with initial public offerings (IPOs) and the process of taking companies public for over 20 years. Sometime ago, I began to see how the people involved found it difficult to comprehend all the various aspects and complexities of the process. This is especially true of entrepreneurs who are pressed for time and often don't know the correct questions to ask. I have been frustrated with many business book authors who have had little practical, first-hand experience in taking a company public.
This is what prompted me to write a definitive handbook.
In my case, I have gained an intimate knowledge of the OTC market as a player, broker, trader, corporate finance officer and syndicator. Additionally, I've been a public company founder, officer, president, director, and have invested in hundreds of companies, both public and private. I took my first company public in 1970, and have been involved in over 50 IPOs in one capacity or another.
Being involved in a publicly held business is an entrepreneur's ultimate dream. Taking a company public is the major financial reward. It brings glamour and prestige, and is one of the acknowledgments of success in business, but taking a company public is a complex process. It involves many different business disciplines and can be mysterious and confusing, even for those who have been through it several times.
It's not surprising that entrepreneurs and their management teams are intimidated. Consequently, they seek helpful information from IPO consultants, attorneys, accountants, public relations executives, and other support professionals.
Many of these professionals will acknowledge, however, that they don't have a complete understanding of the complementary disciplines, or in many cases, a full grasp of the total process. Some may have only a cursory knowledge of many of the subjects, others may have an in-depth knowledge of just some of the subjects.
The major need of the chief executive officer (CEO) of a prospective public company, and those on the initial public offering (IPO) team, is a fuller understanding of a complicated subject. My book provides this and it is now in its third edition and covers the going- public process from beginning to operations.
The following web pages share a small part of the information contained in the book Detailed Table of Contents and are presented here to give the reader a brief overview of the process.
What is going public?
Basically, going public (or participating in an "initial public offering" or IPO) is the process in which a business owned by one or several individuals is converted into a business owned by many. It involves the offering of part ownership of the company to the public through the sale of debt or more commonly, equity securities (stock).
What are the Advantages and Disadvantages?
Advantages Disadvantages
Stronger capital base Short-term growth pressure
Increases other financing prospects Disclosure and confidentiality
Better situated for making acquisitions Costs - initial and ongoing
Owner diversification and Restrictions on management
Executive compensation Loss of personal benefits
Increase company and personal prestige Trading restrictions
Does my company qualify and will my offering succeed?
There are no guarantees in life or financing. In business, that’s why they call it entrepreneuring. The atmosphere for making public offerings is always in flux. Talk with an underwriter, IPO consultant, accountant or attorney about the market prospects. Then ask yourself:
Can I show that my company can maintain consistent high growth?
Is the public aware of our type of product or service? Do they think its in a "hot" industry?
Can our company perform as well as and preferably better than our competition?
Can we meet the financial audit requirements?
Many underwriters require that your company is generating sales of $10 to $20 million annually with profits of $1 million. That your product is on the "leading edge" and that you have an experienced, proven top management team and can show future growth rates of at least 25% annually for the next five years. To obtain a NASDAQ listing, you need $4 million in tangible net assets. However, most IPOs today are much, much larger with most offering sizes over $100 million.
What do I need to go public?
Audited financials and a good management team. The creditability and experience of your management team is the most important key in obtaining an underwriter and successfully completing a public offering. You also need a good outside team. These are your IPO consultants, accountants, attorneys, underwriters and PR specialists.
What is the Registration Process?
Going public requires a Registration Statement which is a carefully crafted document that is prepared by your attorneys and accountants. It requires detailed discussions on information pertaining to:
Business product/service/markets
Company Information
Risk Factors
Proceeds Use (How are you going to use the money)
Officers and Directors
Related party transactions
Identification of your principal shareholders
Audited financials
After your registration statement is prepared, it is submitted to the securities and exchange commission and various other regulatory bodies for their detailed review. When this process is completed, you and your management team will do a "road show" to present your company to the stock brokers who will then sell your stock to the public investors. Assuming they can successfully sell your issue, you’ll receive your money. Then it's simple, all you have to do is make a lot more money with the proceeds so as to increase the value of your teams and the public investors stock.
How much does going public cost?
Cost can vary considerably depending upon an individual company's history, size and complexity. The following figures are considered minimums and many larger offerings will have costs that greatly exceed these numbers.
Legal - $50,000 to $150,000
Accounting - $20,000 - $75,000
Audit $30,000 - $200,000
Printing - $20,000 -$80,000
Fees $10,000 -$30,000
Plus underwriter commissions and expenses as well as numerous expenses on the part of the company.
How long will it take?
3 -12 months (6-9 average - when well prepared)
http://www.venturea.com/public.htm
also some food for thought!! check out this article!
Plug-in hybrid hype gets zapped
by Peter Valdes-Dapena, CNNMoney.com senior writerDecember 15, 2009: 3:02 PM ET
NEW YORK (CNNMoney.com) -- If you want to save big money on fuel and create a cleaner environment by buying a new, hot off the production line plug-in hybrid, you'd better hold your horses.
For at least a couple of decades, plug-in hybrid vehicles are likely to cost too much for drivers to earn any financial benefit, according to a government advisory group.
Facebook Digg Twitter Buzz Up! Email Print Comment on this story
Despite travelling miles without gasoline, cars like the Chevy Volt are unlikely to have a big impact on the nation's fuel consumption.
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High battery costs are the main culprit, according to a National Research Council report.
Also, Americans shouldn't expect a big environmental impact from these vehicles even if they're very successful with consumers, the report said.
Among plug-in hybrids, those that rely more on gasoline and less on electric power, like Toyota's planned Prius plug-in, are expected to become cost-effective sooner for consumers. That's because of the high cost of the lithium-ion batteries required for these cars. The farther a car is expected to drive on electricity alone, the larger, and more expensive, its battery pack will have to be.
Fuel savings won't cover the extra battery cost unless gas prices rise sharply, the report said. That extra cost will have to be offset somehow, either by passing it on to consumers or by providing higher government incentives to car buyers, or both.
A car like General Motors' Chevrolet Volt, which is expected to travel 40 miles on a fully charged battery before burning gasoline, won't be cost effective for new car buyers until 2040, assuming gasoline prices don't rise above $4 a gallon, the report said. The Volt is expected to go on sale in late 2010.
On the other hand, a car like Toyota's planned plug-in Toyota Prius, which is expected to travel only 10 miles on electricity before burning gasoline, is expected to become cost effective for buyers before 2030. The Prius plug-in is due to hit the market in 2011.
Toyota and GM were not immediately able to comment on the report. Representatives of GM, Toyota, Ford (F, Fortune 500) and other companies provided information used in the report.
In order to help these vehicles gain market acceptance in the meantime, the government will need to spend "tens to hundreds of billions of dollars" in subsidies to generate sales of these vehicles. The Volt, for instance, will be eligible for a $7,500 federal tax credit which will help bring its expected $40,000 sticker price down to about $32,000. Bigger government incentives than that may still be needed, according to the NRC report.
0:00 /3:42Rebuilding Cadillac's image
The extra cost to build a car like the Volt, compared to a similarly sized gasoline-only car, is expected to be about $18,000 according to the NRC. Of that, $14,000 is for the battery pack alone. A car like the plug-in Prius would cost about $6,300 extra to produce, including $3,300 for the battery pack. Added to that, some homes will require electrical system upgrades to charge the vehicle, work that will add about $1,000 to consumers' costs, the report said.
Higher gas prices or faster-than-expected reductions in battery costs could shorten the time it takes for these cars to become cost effective and decrease the amount of government incentives needed sell them, the report said.
Competing against gasoline power. One of the biggest challenges facing plug-in hybrid cars will be the continued improvement of ordinary, non-hybrid vehicles.
The Chevrolet Equinox SUV, already on the market, gets 32 miles per gallon on the highway and the Chevrolet Cruze compact car, due out around the same time as the Volt, is expected to get 40 mpg. Both will cost thousands less than the Volt and will carry more passengers and cargo.
Also, those cars won't need to be plugged in.
"Some people will probably look at that as something they don't want to have to do," said Jim Katzer, an MIT researcher and one of the reports' authors.
Even given optimal expectations of 40 million plug-in hybrids in a fleet of 300 million, they will have relatively little impact on the nation's fuel consumption before 2030.
"You've got tremendous inertia in the existing fleet that's got to be turned off," Katzer said.
Improvements in green house gas and other emissions will take much longer because of the higher emissions of the typical American power generating plant, the report said.
"As long as you have the grid as it is now, and you don't clean it up, you don't save a lot," Katzer said
http://money.cnn.com/2009/12/15/autos/nrc_plug-in_hybrid_report/index.htm
its only matter of time before revenge rises!!!!