Wednesday, 16 October 2013

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Auto Parts Price Fixing

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.

As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."

Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.


View the original article here

Monday, 14 October 2013

Google Earth helps sheriff's department find stolen car [w/video]

Man finds a stolen vehicle after seeing satellite images of it while surveying his property using Google Earth.

A stolen-vehicle case opened back in March was recently solved with the help of a property owner using Google Earth, a virtual globe and mapping service similar to Google Maps, ABC News reports. The man, who remains anonymous, found the stolen GMC Yukon while he was surveying his property in George County, Mississippi, using the map service and, judging by the top-down satellite image, thought he found a "shooting house" on his hunting grounds.

When he drove out to the suspicious structure, he realized it actually was a sport utility vehicle wedged in thick brush about 70 yards from the nearest road, so he called the police.

Law enforcement officers had arrested a female suspect in the case earlier based on eyewitness accounts, but didn't prosecute her because the stolen SUV hadn't been found. Ben Brown, a lieutenant detective with the George County Sheriff's Department, says that he ran the plates and confirmed the SUV was the stolen vehicle the department had been looking for.

"Now that we have the truck, we can pursue the prosecution," Brown says.

Watch the video below for the full story (followed by an interesting piece on the iPhone's fingerprint recognition system), and remember: Google is watching you...


View the original article here

Sunday, 13 October 2013

Treasury sells more GM stock, stake now at 7.3%

Treasury reduces stake in GM to 7.3 percent as of September 13, 2013.

The US Treasury's sale of General Motors stock continues, with the unloading of more than 110 million shares between May 9 and September 13 netting the government agency $3.82 billion and reducing its stake in GM to 7.3 percent, Reuters reports. The Treasury also confirmed that it now holds 101-million shares, which are on track to be sold by March 2014.

Those remaining shares are currently worth $3.7 billion, with GM stock closing at $36.71 per share as of yesterday. That means Treasury is on track to lose $10 billion from the bailout, which is far less than earlier estimates of more than $20 billion. But to recoup the full amount, it was reported in July that GM stock would need to be worth over $95 per share – it's presently trading around $37.50. Supporters of the bailout note that the bailout was meant to save jobs and stabilize the wider economy, a consequence of which is that Washington – and taxpayers – probably won't break even.

The US government originally took a 60.8 percent stake in GM valued at $49.5 billion as part of the 2009 bailout, and has since that time, it has been reducing its stake in the company with the goal of selling all of its GM stock and recouping as much of the bailout money as possible. The selloff started when the automaker went public in 2010.

In December, the Treasury announced it would sell its remaining GM stock over the next 12 to 15 months. At the time, it held roughly 500-million shares, 200m of which were bought back by General Motors before 2013 at a negotiated price of $27.50 per share. In February, it reduced its stake in GM to 19 percent with the sale of 17.2-million shares. In July, the Treasury announced that it had sold more shares, totaling $876.9 million, which reduced the government's stake in GM by 23-26-million shares to around 135-137-million shares. Between then and September 13, the Treasury sold another 34-36 million shares to land at the current number of 101 million, or a stake of 7.3 percent.

Treasury Assistant Secretary Timothy Massad said in a statement: "We remain on track to complete our exit from GM by early next year at a cost far less than originally projected," Reuters reports.


View the original article here

Saturday, 12 October 2013

AU Gold Coast turns away Top Gear taping, fears noisy cars

Top Gear Live - Media Call

For all of its negatives and controversy, let's get one thing clear - the BBC's Top Gear has quite possibly the largest viewing audience of any TV show on the planet, an estimated 350 million people in 170 of the 190-odd countries on the map.

Which makes it rather odd that Australia's capital of tourism, the Gold Coast, an area renowned for its beaches and surfing, would reject the kind of global publicity that comes with a Top Gear episode filming. But that's just what the Gold Coast City Council did in a move that Paul Morris, head of the Holden Driving Center, called "bureaucracy gone mad."

According to Perth Now, Jeremy Clarkson was set to drive the Xbox One-sponsored Holden Commodore V8 Supercar at the Holden Driving Center in Norwell, about 27 miles outside the city center and in an area that mainly consists of sugar cane farmers. Still, the Driving Center needed to apply for a relaxation of its noise restrictions, which the Gold Coast City Council blocked, claiming the one-day notice wasn't enough time to get approval. Devil's advocate here, but who expects any city government to move that quickly, regardless of who or what it's for?

With the filming happening further inland in Warwick now, Morris has taken the opportunity to verbally lambast the City Council over its decision, telling Perth Now, "We are talking about the world's biggest TV show and the council, which is always banging on about how the Gold Coast is open for business, can't even facilitate it. Clarkson was going to drive the car himself. It's bureaucracy gone mad. The pen-pushers are strangling this town with red tape." Speaking of the noise issue, Morris added, "The guy cutting cane next door makes more noise with his harvester than the V8 car."

For what it's worth, the Gold Coast Deputy Mayor, Donna Gates, told the Aussie publication, "I'm disappointed in any opportunity like this that we miss. Top Gear obviously has a really big viewing audience and it would have been great promotion for the city."


View the original article here

Friday, 11 October 2013

NHTSA: More than 1/3 of kids killed in car crashes weren't in car seats or wearing belts

NHTSA Finds More Than a Third of Children Killed in Crashes Were Not in Car Seats or Wearing Seat Belts

WASHINGTON, Sept. 19, 2013 /PRNewswire/ -- According to the Department of Transportation's National Highway Traffic Safety Administration (NHTSA), more than a third of children under age 13 who died in passenger vehicle crashes in 2011 were not in car seats or wearing seat belts. To help eliminate these deaths, and as part of Child Passenger Safety Week, NHTSA is highlighting the important safety benefits associated with the proper use of car seats, booster seats, and seat belts.

"Safety is our top priority, particularly when it comes to protecting our children – who are our most vulnerable passengers," said U.S. Transportation Secretary Anthony Foxx. "Parents and caregivers can be the first line of defense by ensuring their children are correctly secured in the right seat for their size and age, and by buckling up themselves."

Motor vehicle crashes remain a leading cause of death for children. In 2011, almost two children under the age of 13 were killed and 338 were injured every day while riding in cars, SUVs, pickups and vans. Of the children killed, the percentage of unrestrained fatalities, with no car seat or seat belt, varied by vehicle type, with greater percentages of unrestrained fatalities occurring in larger vehicles: SUVs (55 percent), pick-ups (43 percent), vans (40 percent), and cars (24 percent).

"Regardless of the size of the vehicle, the age of the child or the length of the trip, children should always be properly restrained in a car seat, booster or seat belt," said NHTSA Administrator David Strickland. "Car seats, when correctly installed and used, provide proven life-saving and injury-reducing benefits for child passengers."

From 1975 through 2011, NHTSA estimates that approximately 10,000 lives were saved by child restraints for children under the age of 5 in passenger vehicles, with more than 260 lives saved in 2011 alone.

NHTSA offers parents and caregivers the following safety tips:

-Determine if your child is in the right seat for his or her age and size;
-Read the instructions and labels that come with your child's car seat and read the vehicle owner's manual for important information on installing the seat in your particular vehicle;
-Go to your local car seat inspection station to have your seat checked by a Certified Child Passenger Safety Technician;
-Use the Lower Anchors and Tethers for Children (LATCH) restraint system or seat belt to install your car seat and use the top tether to secure forward-facing car seats;
-Register your car seat and booster seat at SaferCar.gov so you will be informed if there is a safety recall on your model; and
-Always wear your seat belt to set a good example. Unbuckled drivers are more likely to have unrestrained children in the car.
-Child Passenger Safety Week is September 15 through September 21, with the final day of the week (Sept. 21) recognized as National Seat Check Saturday. Throughout the week, at more than 600 events in 45 states across the country, certified child passenger safety technicians will inspect car seats and show parents and caregivers how to correctly install and use them. In most cases, this service is free of charge.

Parents and caregivers can visit SaferCar.gov/TheRightSeat to determine if your child is in the right seat for his or her age and size and to locate a car seat check event in your area.

Additional information on child passenger safety can be found in NHTSA's latest issue of SAFETY 1N NUM3ERS, an online monthly newsletter on hot topics in auto safety – including problem identification, people at risk and recommended practices and solutions to mitigate injury and death on our nation's roadways.
=========
General Motors
Study: 1 in 4 Parents Drive with Children Unsecured in Vehicle

New Safe Kids Worldwide report made possible by a $2 million GM Foundation grant

DETROIT – One in four parents and caregivers responding to a Safe Kids Worldwide survey said they have driven without making sure their children are safely secured in vehicles.

The report, funded as part of a $2 million grant from the General Motors Foundation, is based on a national online survey of 1,002 parents and caregivers of children ages 10 and under. It reveals that one in four parents admit to having driven without their child buckled up in a car seat or booster seat.

Safe Kids released "Buckle Up: Every Ride, Every Time," today as part of National Child Passenger Safety Week, which began Sunday and continues through September 21.
"As kids grow up, it can be easy to forget the importance of taking time to buckle up, especially on a quick or overnight trip," said Mike Robinson, GM vice president of Sustainability and Global Regulatory Affairs, and a GM Foundation board member. "Unfortunately, exceptions can lead to tragedies. The research findings underscore the importance of remaining vigilant about buckling up throughout a child's lifetime. There is no reason important enough to take the risk."

About Safe Kids Worldwide
Safe Kids Worldwide is a global network of organizations dedicated to providing parents and caregivers with practical and proven resources to protect kids from unintentional injuries, the number one cause of death to children in the United States. Throughout the world, almost one million children die of an injury each year, and almost all of these tragedies are preventable. Safe Kids works with an extensive network of more than 600 coalitions in the United States and in 23 countries to reduce traffic injuries, drownings, falls, burns, poisonings and more. Since 1988, Safe Kids has helped reduce the U.S. childhood death rate from unintentional injury by 55 percent. Working together, we can do much more for kids everywhere. Join our effort at safekids.org.

About General Motors Foundation
Since its inception in 1976, the GM Foundation has donated hundreds of millions of dollars to American charities, educational organizations and to disaster relief efforts worldwide. The GM Foundation focuses on supporting Education, Health and Human Services, Environment and Energy and Community Development initiatives, mainly in the communities where GM operates. Funding of the GM Foundation comes solely from GM. The last contribution to the GM Foundation was made in 2001. For more information, visit www.gm.com/gmfoundation.


View the original article here

Thursday, 10 October 2013

Saudi cleric under fire after saying women risk hurting ovaries if they drive

Mideast Saudi Women Driving

In Saudi Arabia, where only men can earn a driver's license, a conservative cleric is drawing criticism for saying that women risk damaging their ovaries and bearing children with clinical problems if they drive, The Guardian reports.

The cleric, Sheikh Saleh bin Saad al-Lohaidan, made the comments in an interview following a recent campaign by women opposing the ban on female drivers. Lohaidan reportedly says women involved with the campaign, whose website was blocked in the kingdom, should put "reason ahead of their hearts, emotions and passions" – and not drive.

The opposition campaign called for female drivers to defy the ban and drive cars in a protest on October 26. According to the report, the ban on women drivers isn't actually a law, but only men are allowed to obtain driver's licenses. The country was preparing to lift the ban five years ago, but that plan didn't pan out.

Lohaidan explains the reasoning behind the ban as such: "If a woman drives a car, not out of pure necessity, that could have negative physiological impacts as functional and physiological medical studies show that it automatically affects the ovaries and pushes the pelvis upward," The Guardian reports. No specific medical studies were cited for explanation.


View the original article here