In the man-versus-machine competition, machine is winning. And it’s not just Watson beating humans on “Jeopardy.” Since the recession ended, businesses had increased their real spending on equipment and software by a strong 26%, while they have added almost nothing to their payrolls. In August, new orders and shipments of “capex goods” — defined as [...]
WASHINGTON – Borrowers are making their mortgage payments on time more frequently compared to a year ago, but delinquency rates remain elevated as government efforts to help homeowners fail to keep pace with job losses that push more homeowners toward foreclosure. At the end of the second quarter of this year, 88.0 percent of U.S. [...]
NEW YORK — The members of Occupy Wall Street are not allowed to use megaphones, so they’ve adopted a low-tech workaround. At their twice-daily general meetings in Zuccotti Park in Manhattan’s financial district, whoever has an announcement to make speaks slowly and clearly, with a pause every few seconds, so that everyone within earshot of [...]
In the wake of the financial crisis, a number of the nation’s largest banks were excused from the government’s rescue program before they had returned to a position of complete financial security — in part because they wanted to avoid restrictions on how much their executives would get paid, according to a new report from [...]
Bob Lutz is apparently planning to keep busy in his retirement. In addition to snapping up an advisory rolewith General Motors, the former automotive executive has just announced that he is joining up with VIA Motors, an electric vehicle manufacturer responsible for converting full-size GM products into extended-range hybrids. At this point, it’s unclear exactly what kind of [...]
Glancing down the F1 roster this year has lead to a little confusion for many. That’s because there are two teams that lay claim to the Lotus name, and they’re both powered by Renault. The French automaker and engine supplier is stuck in the middle of the naming-rights tug-of-war, but if you were hoping things might be clarified [...]
Word has it that BMW is working on some serious stoppers for its M5. According to Bimmerfile, Dr. Herbert Diess, a member of the BMW board of management, has confirmed that the company is currently testingcarbon ceramic discs for the M5 and upcoming M6. Brake supplier Brembo has teamed up with SGL Carbon for a joint venture to [...]
Gordon Murray Designs’ latest creation, the Teewave AR1, not only showcases the firm’s engineering capabilities, but also illustrates the point where integrity, lightweighting and electric drive meet. On the day Project T.32 (the Teewave AR1′s codename) was primed for its Tokyo debut, the automotive world came to know a firm by the name of Toray Industries – [...]
The Motorcycle Safety Foundation has just passed an amazing milestone by graduating its 6 millionth Rider Course student. MSF has been training safer riders since 1973 and currently boasts 10,000 coaches in over 2,000 locations. While probably best-known for its introductory motorcycle school, MSF also works in tandem with military, federal and state groups to train riders [...]
When Mini announced plans to bring the Countryman to its showrooms, the brand’s acolytes recoiled in horror at the thought of a bloated all-wheel-drive model joining the range. To prove that the new micro-crossover has the chops to live up to Mini’s race pedigree, Mini partnered with Prodrive to create theCountryman WRC. There was much rejoicing. Now EVO Magazine [...]
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