HP Is ?the Epitome of a Value Trap? After ... - Yahoo! Finance

Hewlett-Packard (HPQ) shares tumbled 12% to a 10-year low Tuesday after the company announced a shocking $8.8 billion write-down and dismal quarterly results.

In 2011, HP acquired London's Autonomy for $11 billion in a bid to move deeper into software and services. HP now says it was duped, citing "serious accounting improprieties" in announcing the write-down, of which over $5 billion was related to accounting issues and the rest due to the division's poor performance.

HP's founder Michael Lynch vehemently (and publicly) disputed HP's claim of wrongdoing, leading many observers to wonder whether HP was really the victim of accounting fraud (a word the company notably hasn't used) or is just using these alleged accounting issues as an excuse to mask its poor performance.

"The mind boggles as to where the snafu was," says Barry Ritholtz, CEO of Fusion IQ and author of The Big Picture blog, who notes the accounting industry is once again left with another black eye ? and with shareholders holding the bag. "I'm not just talking about HP," he says. "This is a mainstream part of finance and quite frankly an embarrassing debacle."

Beyond questions over the potential failings of audit firms Deloitte UK and KPMG, HP's board and its finance team, "to me this is just another bad HP acquisition," Ritholtz says. "They were once a wonderful, storied company. Now they need to figure out who they are."

For shareholders, this is the critical question because the Autonomy write-down and drama over the allegations served to somewhat obscure another lousy quarter for HP overall.

For its fiscal fourth quarter, HP reported poor performance across the board as revenues fell in its PC, printer, services, and server and networking divisions. HP reported a 7% drop in revenue vs. a year ago and a whopping loss of $6.9 billion.

For the full fiscal year ended Oct. 31, HP's overall revenues dropped 5% while earnings dropped 23%.

Tuesday's swoon comes on the heels of another big drop in October when the company cut its fiscal 2013 guidance and CEO Meg Whitman talked about a long, slow turnaround process.

After the earlier decline, many analysts declared HP to be "cheap."

At around $12, The WSJ notes HP now trades at 6 times its enterprise value, which includes factors such as debt. But that compares to 9.7 times for Apple (AAPL), which is growing much faster and has a rock-solid balance sheet.

"HP is the epitome of a value trap," says Ritholtz, who has no position (long or short) in the stock. "The stock has been in a relentless downtrend for a decade, has a history of making horrific acquisitions and is in a space that's pretty much been devastated by tablets in general and Apple specifically."

Looking forward, the best chance for the company is to transform itself into an "IBM-like services company," he continues. "But I don't know if they have ability, or the skills or the management team to do that."

Considering both the deals for Autonomy and EDS ? which the company took a separate $8 billion write-down this year ? were designed to do just that, it's a fair question and skepticism is warranted.

Aaron Task is the host of The Daily Ticker and Editor-in-Chief of Yahoo! Finance. You can follow him on Twitter at @aarontask or email him at altask@yahoo.com

More from The Daily Ticker:

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Source: http://finance.yahoo.com/blogs/daily-ticker/hp-epitome-value-trap-embarrassing-debacle-ritholtz-175822766.html

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Twinkies sell for millions - Business Insider

After Hostess closed all of its factories last week, many junk food fanatics remain concerned about the future of one of the pastry giant's most famous desserts: the Twinkie.

Many are scared that Twinkies, which are rumored to last for quite a long time, will go extinct (although the brand is so well-recognized, odds are another company will purchase it and start making Twinkies themselves).

That hasn't stopped people from putting up Twinkie-related items for sale on eBay, and the prices are astounding. Odds are that a handful of these postings are scams, and it is difficult to verify with certitude the validity of each sale.

Users are selling boxes of Twinkies, Ding Dongs, and other Hostess pastries at large sums and in turn donating the money to charity. The most expensive is pegged at $21 million for one box, and in turn the proceeds would go Samaritans Purse for Starving Children.:

?

Many are trying to sell Twinkie-related domain names, including one user who is trying to sell MUSTHAVETWINKIES.COM for $10 million:

Some are just hoping that they can catch the eye of wealthy pastry fanatics rather than the philanthropists, and are selling their 'rare' Twinkie paraphernalia.

This user is selling 1 box of "Fall-time" Twinkies for $1 million:

GOODBYE, TWINKIES: Check out how the beloved snack used to be made >

Source: http://www.businessinsider.com/twinkies-sell-for-millions-2012-11

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Sprint playing crucial role in Softbank's 30-year grand plan ...

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X Factor George Shelley 'upset as Union J bandmate makes move on Ella'

X Factor contestant George Shelley is said to be heartbroken after his Union J bandmate Josh Cuthbert flirted with and grew close to fellow act Ella Henderson.

Shelley and Henderson were rumoured to be an item after they were spotted holding hands last month, but Henderson dismissed reports by saying the pair were just good friends. She has since been spotted arm in arm with Cuthbert outside the contestants' hotel.

? Rex Features / Beretta/Sims/Rex Features

According to The Mirror, Rylan Clark was seen comforting Shelley after Cuthbert and Henderson spent time together during a group trip to Disneyland Paris.

Henderson later posted a picture of Cuthbert on her Twitter page and called him a "teddy bear".

"Ella and Josh have always been good friends," said a show insider. "They get on really well and the first signs of romance started to show when they went to Disneyland ?early in the week.

"They were ?hanging out all the time and George was left by himself. On Tuesday ?morning George ?realised what was going on as they were all staying at the Disneyland hotel ?together.

"Ella hadn't spent much time with George and was ?getting on really well with Josh.

"When George found out about the situation Rylan had to calm him down as he was on the verge of tears."

The source continued: "Neither Ella or Josh seemed to really care about how their ?actions or feelings towards each other were affecting George... [They] didn't seem to mind who saw them together.

"Josh is quite protective around her and had his arm round Ella as they entered the back door of the hotel. They seem like two little ?lovebirds when they are ?together."

In the past, Henderson has spoken about her desire to fall in love - even if it ends in heartbreak - because it means she will be able to draw on different emotions when songwriting.

"I haven't been in a proper relationship," she explained. "It sounds weird but I can't wait to fall in love and be ?heartbroken ?because I know I write the best songs when feeling strong emotions."

The X Factor continues tonight (November 18) at 8pm on ITV1.

Photo gallery - The X Factor Guilty Pleasures week:

The X Factor Week 7: The Judges.

1 of 9

Copyright: Ken McKay/Thames/Rex Features

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South Africa labor strikes, unrest expand to farms

RUSTENBURG, South Africa (AP) ? Down a two-lane road, where slag heaps tower and miners' shack homes crowd against each other, the labor unrest now gripping South Africa first caught fire.

Mining companies here outside of Rustenburg, a city about 100 kilometers (60 miles) northwest of Johannesburg, saw workers walk off the job and continue to demand higher wages, even after violence during six weeks of strikes and a mass police shooting at one mine killed 46 people. The strikes recently spread to agriculture, South Africa's other major economic engine, as day laborers burned farms and fought with police Wednesday in violence that left at least one person dead and five others injured.

The unrest has shaken South Africa, a nation now free from apartheid-era laws, but not of its legacy of economic disparities between whites and blacks. And though the grip of the strikes appear to have loosened, the damage done to South Africa's anemic economy could last even longer.

"Even if I can take you to my house, my fridge is empty," said Gaddafi Mdoda, a labor organizer outside a shuttered mine shaft owned by Anglo American Platinum Ltd. "It's hard to survive."

The unrest began in August at the Lonmin PLC Marikana platinum mine, only a few miles down the road from Anglo American Platinum. Violence between miners and guards killed 12 people, while police later opened fire on miners and killed 34 of them. An investigation into that shooting continues.

The nation recoiled at the killings, while Lonmin ultimately gave workers raises of up to 22 percent. Those raises, as well as shock at the killings, caused other workers at mines down this road to walk off the job.

Mining drives the economy of South Africa, which remains one of the world's dominant producers of platinum, gold and chromium. Since the strikes began, world platinum prices have risen about $200 an ounce to almost $1,600 as of Wednesday trading. In September, President Jacob Zuma said the strikes already had cost the nation about 4.5 billion rand (nearly $563 million).

Yet black miners long have faced low salaries and poor living conditions in shantytowns often beset by alcoholism, drug abuse and prostitution.

The same goes for salaries of day laborers working in agriculture in South Africa, another major part of the nation's economy. The minimum wage for a farm worker is just about 70 rand ($8) and the top wage typically earned is just slightly more than that. Over the last few days, workers have said they want the minimum wage to rise to 150 rand ($17) a day.

Wednesday, their protest turned violent as workers set fire to some farms, overturned a police truck and confronted officers in riot gear in the country's Western Cape. The police fired tear gas to drive away protesters, as the sounds of gunshots could be heard in local television footage.

One man was killed in the violence "as a result of police action," police Lt. Col. Andre Traut told the South African Press Association. At least five other people were injured.

Traut declined to discuss casualty figures when reached Wednesday night by The Associated Press.

"Police officers are deployed to affected areas to maintain law and order," he said.

Government and union officials later said that a deal had been put before farm laborers, but it was unclear if they accepted. Most of the laborers work in vineyards supporting South Africa's wine industry, the world's eighth largest overall producer.

Unrest also has continued at the mines. Police said they arrested 37 mineworkers Tuesday near an Xstrata PLC mine after miners threw stones at cars and burned tires. Authorities also said they found the body Tuesday of a miner from Mozambique killed near the Anglo American Platinum mines.

At Anglo American Platinum, also known as Amplats, workers began their strike more than eight weeks ago. The company fired 12,000 workers and then reinstated them, though the miners still have not returned to work. In a statement Wednesday to investors, the world's largest platinum producer said its year-end earnings "will decrease by more than 20 percent" compared to last year. It blamed the strikes in part for the losses.

The unrest has, however, showed signs of easing in recent days. AngloGold Ashanti Ltd., the world's third largest gold bullion producer, said in a statement Wednesday that its Mponeng mine in South Africa had returned to normal operations after earlier violence there.

Striking workers at Amplats faced a deadline Wednesday to return to work, but shafts remained empty. Workers gathered under umbrellas early that morning near two mine shafts to listen to their leaders describe a wage offer involving a one-time 4,500 rand ($500) payment, as well as either a monthly pretax allowance of 600 rand ($70) or a pretax salary increase of 400 rand ($45). Workers had asked for 16,000 rand (about $1,800) in monthly pay.

It remained unclear if the deal would be accepted, though many acknowledged that the weeks of striking had begun to take a toll.

"We'll look for the percentage of the majority," Mdoda, the labor organizer, said. "If the other shafts, maybe the four of them they are saying we are taking the offer, the three must withdraw and join the others just because if you can't beat them you must join them."

___

Online:

AngloGold Ashanti Ltd.: www.anglogold.com

Anglo American Platinum Ltd.: www.angloplatinum.com

Lonmin PLC: www.lonmin.com

Xstrata PLC: www.xstrata.com

___

Jon Gambrell can be reached at www.twitter.com/jongambrellAP .

Source: http://news.yahoo.com/south-africa-labor-strikes-unrest-expand-farms-173540403.html

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NE OBLIVISCARIS Portal of I music review by CCVP

Next big thing in progressive metal? Maybe in the future, but definitively not for now

From time to time, a band arises in the progressive rock (and metal) community that claiming the position of possible big guysin the scene and, in 2012, Ne Obliviscaris has taken that place. Obviously, for being in such position, their debut album was for many times discussed and talked about by the community, so I had to see (or hear) for myself if all what was being said did in fact made sense. Also, I feel that it is necessary to mention that, however big the amount of positive feedback, there were people bashing the guys for not being original and claiming they were mere copiers of Opeth and generic symphonic black metal bands. Even though the band had previously released a demo EP some years back, Portal of I is my first contact with this Australian progressive black metal group.

Since the beginning, from the very first song, you can see that, to some degree, the people that praise this album does indeed have some reason in doing so. The compositions in general are indeed impressive and they evolve gradually, they are carefully crafted and well developed, denoting that the guys from the world's largest island did take their time writing and sharpening the material they had for Portal of I. Also, there is the impressive violin and solo guitar parts that, together, amount for the best elements in the whole album; indeed, they are truly awe inspiring, specially the violin parts. Another quite interesting part of the band's opus are the lyrics which, in spite of not making much sense themselves (if taken literally), are quite beautiful in the way they sound and how you need to twist and turn them to get their true meaning.

However, this album does not comes without flaws. starting with the compositions, the strongest element in this album, even though they are very well crafted, the band allowed their influences to be too much in our face, instead of letting them to subtly guide themselves. The most obvious ones are Opeth, which guides most of the album's light - dark, forte - piano, growling vocals - clean vocals aesthetics (these are the whole musical concepts of Portal of I); and Borknagard, whose influence can be felt in how the band portrays their melodic black metal lines, much in the same vein as the Norwegian band does themselves.

Another issue I have myself with this album is with the mixing and mastering. Starting with the former, I feel that whoever mixed this album cared mostly for the base part of Portal of I's sound, because the drums and the bass are way too high. They are so loud that at points they drown mostly every other thing, besides the violin and the highest notes from the solo guitar. Everything else gets inaudible, the music turns into a mass of blast beats, repetitive bass lines and some indistinguishable noise which consist in all other instruments and the vocals. As for the mastering, there are also some problems with the music's loudness; instead of just keeping how the instruments were, the person responsible for the album's mastering decided to make everything louder, making the music get clipped at times, further worsening the problems of the bad mixing.

Rating and Final Thoughts

Having addressed both strong and weak points in the band's output, I must say that both sides on the prog music community are right in their claims to some extent. The guys from Ne Obliviscaris do have a strong chance to impress us in the future whenever they choose to release another album (or when they decide to re-record or re-release Portal of I without so many flaws regarding the mixing and mastering and making their influences less apparent).

For now, however, I feel that, in spite of releasing an album with strong compositions, Portal of I is so fundamentally flawed in such important instances that for some moments the album's qualities are unimportant.

Everything considered, I think that the three stars rating is the most appropriate for this particular album.

CCVP | 3/5 | 2012-11-10

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Source: http://www.progarchives.com/Review.asp?id=855438

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Mountain meadows dwindling in Pacific Northwest, U.S. due to climate change, study suggests

ScienceDaily (Nov. 2, 2012) ? Some high mountain meadows in the Pacific Northwest are declining rapidly due to climate change, a study suggests, as reduced snowpacks, longer growing seasons and other factors allow trees to invade these unique ecosystems that once were carpeted with grasses, shrubs and wildflowers.

The process appears to have been going on for decades, but was highlighted in one recent analysis of Jefferson Park, a subalpine meadow complex in the central Oregon Cascade Range, in which tree occupation rose from 8 percent in 1950 to 35 percent in 2007.

The findings of that research, which was funded by the Pacific Northwest Research Station of the USDA Forest Service, were published in the journal Landscape Ecology.

The changes in Jefferson Park are representative of a larger force that is affecting not only this beautiful meadow at the base of Mount Jefferson, scientists say, but many areas of the American West.

"We worry a lot about the loss of old-growth forests, but have overlooked declines in our meadows, which are also areas of conservation concern," said Harold Zald, a research associate in the College of Forestry at Oregon State University and lead author of this study.

"The first awareness of declining meadows dates back to the 1970s, and we've seen meadow reduction at both high and low elevations," Zald said. "Between climate change, fire suppression and invasive species, these meadows and all of the plant, animal and insect life that depend on them are being threatened.

"Once trees become fully established, they tend to persist, and seed banks of native grass species disappear fairly quickly," he said. "The meadows form an important part of forest biodiversity, and when they are gone, they may be gone forever."

The meadow decline takes place over several decades, like the melting of glaciers. This also provides a way to gauge long-term climate change, Zald said, since the forces at work persist through seasonal, annual and longer patterns that are variably more wet, dry, hot or cold than average.

"It takes a long time to melt a glacier or fill in a meadow," he said. "It's a useful barometer of climate change over decadal time periods."

In this study, it appears that snowpack was a bigger factor than temperature in allowing mountain hemlock tree invasion of Jefferson Park, a 333-acre meadow which sits at the northern base of Mount Jefferson, a towering 10,497-foot volcano northwest of Bend, Ore. Seedlings that can be buried by snow many months every year need only a few more weeks or months of growing season to hugely increase their chance of survival.

The study also found surprising variability of tree invasion even within the meadow, based on minor dips, debris flows or bumps in the terrain that caused changes in snowpack and also left some soils wetter or drier in ways that facilitated tree seedling survival.

"The process of tree invasion is usually slow and uneven," Zald said. "But if you get all the conditions just right, some tree species can invade these meadows quite rapidly."

There's some suggestion that alpine meadows may simply move higher up on the mountain in the face of a changing climate, Zald said, but in many cases slopes become too steep, and poor-quality, unstable soils are unable to harbor much plant life.

In other research in recent years, Zald said, he looked at meadows on lower-elevation mountains in the Oregon Coast Range -- what are called "grass balds" on the tops of some of the higher peaks, such as Mary's Peak, the highest point in that range west of Corvallis, Ore. In a study of five Coast Range sites, Zald found that these "bald spots" had declined by an average of 50 percent between 1950 and 2000.

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Story Source:

The above story is reprinted from materials provided by Oregon State University.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Harold S. J. Zald, Thomas A. Spies, Manuela Huso, Demetrios Gatziolis. Climatic, landform, microtopographic, and overstory canopy controls of tree invasion in a subalpine meadow landscape, Oregon Cascades, USA. Landscape Ecology, October 2012, Volume 27, Issue 8, pp 1197-1212 [link]

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/most_popular/~3/LW_J4GUzpHs/121102205141.htm

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Blake Shelton pulls off surprise win at CMAs

Miranda Lambert, left, and Blake Shelton embrace onstage after winning the award for song of the year for "Over You" at the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Wade Payne/Invision/AP)

Miranda Lambert, left, and Blake Shelton embrace onstage after winning the award for song of the year for "Over You" at the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Wade Payne/Invision/AP)

Miranda Lambert, winner of the awards for song of the year for "Over You" and female vocalist of the year, left, and Blake Shelton, winner of the awards for male vocalist of the year, song of the year for "Over You" and entertainer of the year, pose backstage at the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Chris Pizzello/Invision/AP)

Jimi Westbrook, from left, Kimberly Schlapman, Karen Fairchild and Phillip Sweet, of Little Big Town, accept the award for vocal group of the year at the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Wade Payne/Invision/AP)

Eric Church accepts the award for album of the year for "Chief" at the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Wade Payne/Invision/AP)

Jason Aldean performs during the opening of the 46th Annual Country Music Awards at the Bridgestone Arena on Thursday, Nov. 1, 2012, in Nashville, Tenn. (Photo by Wayde Payne/Invision/AP)

NASHVILLE, Tenn. (AP) ? Winning the Country Music Association Awards' entertainer of the year is a top honor and always counted as a career high point. But for Blake Shelton it wasn't even the most memorable moment of an amazing Thursday night.

"The Voice" star took home three trophies, including his third straight male vocalist victory, but nothing compared to sharing song of the year with wife Miranda Lambert. The pair wrote "Over You," about the death of Shelton's brother Richie in a car wreck 15 years ago. He said that trophy will always have a special place in their Oklahoma home.

"For me as a songwriter that is as personal as I can get," Shelton said. "So that songwriter award, song of the year award, it will have its own shelf. It will have spotlights on it and an alarm and everything. Trip wires and there will be a land mine if you walk towards it. It is a real big deal to Miranda and I."

Shelton's entertainer win was the biggest surprise of a night full of them. Even he couldn't believe he'd won the award in a field that included Taylor Swift, Jason Aldean, Kenny Chesney and Brad Paisley.

"I didn't think about that tonight. I was thinking there's Taylor Swift right there," he said of the two-time entertainer of the year. "Really, this is pretty dumb that there's anyone else even nominated."

The reality, though, is Shelton capped one of the most impressive career reboots in country music history with the win. About three years ago, he was searching for a hit or a gimmick that might return him to the top of the charts, without much luck. He scored a novelty hit with Trace Adkins called "Hillbilly Bone," began a run of hits and then joined "The Voice" in a move that made him an instant celebrity outside the country world.

He hasn't sold as many records as Swift, whose "Red" just moved 1.2 million copies in its first week, or as many concert tickets as Chesney or Aldean. But his leading-man looks, wicked sense of humor, Twitter presence and mellow baritone have made him one of country's top stars.

While Shelton didn't give himself much of a shot, Lambert ? who also won her third straight female vocalist of the year award ? thought he fit the definition of entertainer of the year after doing a little research.

"I realized that it just meant not only touring numbers, not only ticket sales or how much production you have, but the way that you represent country music within a year," Lambert said. "The media that you do and the work that you do and the TV shows that you are on and how you represent yourself and how you speak out about country music. When you think about it that way, Blake Shelton deserved to win that trophy tonight."

Shelton's victory was just one of many surprises during the awards. Quartet Little Big Town joined Lambert with two wins apiece, taking home vocal group and single of the year for "Pontoon." And Thompson Square's Shawna and Keifer Thompson won vocal duo of the year, ending Sugarland's five-year run in that category.

"Y'all, this has been a 13-year journey," Karen Fairchild said as members of the group fist-pumped, jumped up and down and shouted on stage. "We're living proof that if you work really hard and chase your dream, all the good stuff happens and it follows you. Nashville, you made us your band. Thank you for letting us do this."

Like fellow outsiders LBT, Eric Church felt the love from the CMA's voters for the first time. He won the prestigious album of the year for his breakthrough record "Chief," signaling the North Carolina native's complete acceptance by the country music community.

"I spent a lot of my career wondering where I fit in ? too country, too rock," Church told the crowd. "I want to thank you guys for giving me somewhere to hang my hat tonight."

The awards went off-script early, and not just for Little Big Town. Thompson Square won in a category that's been locked up by either Sugarland or Brooks & Dunn 19 of the last 20 years.

"Ever since I was 5 years old, I used to practice in the kitchen with one of my Meemaw's Mason jars for this moment here," Shawna Thompson said.

Hunter Hayes won new artist of the year, while Chesney and Tim McGraw won musical event of the year for "Party Like a Rock Star" and Toby Keith won video of the year for "Red Solo Cup."

Church helped kick off the show by combining forces with Aldean and Luke Bryan. Playing with a large American flag behind them, the trio of performers teamed up on Aldean's new single "The Only Way I Know" from his new album "Night Train" and earned a standing ovation. Each returned later to play singles, showing how large a market share they now own in country music.

Most of country's top stars were on hand at Nashville's Bridgestone Arena for the celebration, with many slated to perform. Swift performed her somber new single "Begin Again" on a set with a picture of the Eiffel Tower and falling leaves in the background. She received an ovation of her own.

Shelton, McGraw and wife Faith Hill, Lady Antebellum and Keith Urban joined together to salute lifetime achievement winner Willie Nelson, ending with a group sing-along of his iconic "On the Road Again."

Little Big Town performed their winner "Pontoon," a song that was something of a departure for Fairchild, Kimberly Schlapman, Jimi Westbrook and Phillip Sweet. Produced by Jay Joyce, the song has a sharper groove than LBT's previous efforts.

In a coincidence, Joyce also produced Church's "Chief." The hard edge he brought to both paid off all around.

Church said album of the year, arguably the CMA's second most prestigious award, was a win that fit right in with his and Joyce's philosophy.

"I still think in this day and time the only way to really get a fan base is you've got to give them more than one chapter of a book," Church said. "They've got to read the whole book."

___

AP writer Kristin M. Hall in Nashville contributed to this report.

___

Online:

http://cmaworld.com

http://abc.go.com/shows/cma-awards

___

For the latest country music news from the Associated Press: http://twitter.com. Follow AP Music Writer Chris Talbott: http://twitter.com/Chris_Talbott.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-11-02-Music-CMA%20Awards/id-4b24dcbb253f42ca9e0629d8edee797b

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Car Loan? Let tenure decide the type of loan you take this season ...

What are the parameters?you consider when looking for a car loan? Mostly, rate of interest, tenure, processing fee, prepayment charges and of course the total cost of the loan, at the most. If you are planning to buy a car this festival season, there are a number of mouth watering offers in the market?vying for your attention. Recently a number of banks cut their lending rates on various loans, including car loans. Thanks to the festival season, among other reasons.

The interest rate which SBI offers for new cars is 10.50 percent per annum. They also give a discount on processing fee, though this discount is valid until 31 December. Reuters

What?s on offer: A quick online search at loan aggregator website will show that SBI does really offer the cheapest loan as far as interest rate offering goes, at 10.50%.? There are banks such as State Bank of Hyderabad (SBH), which offers 10.50% as well and Bank of Maharashtra (BoM) offering 10.55%. Union Bank of India offers 10.9%. Sundaram Car Finance, Indian Bank and Reliance Consumer Finance offers 11%. Among private sector banks, such as HDFC Bank, are charging 11.5% to 16.5%. ICICI Bank?s stand at 11.5% to 14.5%. The number of options can be mind boggling.

Most important parameter:?So why such a big difference between these banks rates? Among other things, one aspect to keep in mind is that SBI, SBH and BoM loans are floating interest loans. The loan is linked to bank?s base rate, and any change in the bank?s base rate will change the rate you pay. While the other loans mentioned above are fixed rate loans. But you hardly think between the options of fixed verses floating rates. Common knowledge says when it comes to car loan, fixed is better than floating. But that?s a general rule, and general rules break themselves under certain conditions.

For instance, let?s take SBI. The interest rate which SBI offers for new cars is 10.50 percent per annum. They also give a discount on processing fee, though this discount is valid until 31 December. The processing fee is 0.255% of the loan amount, subject to a minimum of Rs.510 and a maximum Rs.5100. Also, they do not charge a prepayment penalty. And, the maximum loan tenure up to for 84 months or 7 years.

So, since SBI is a floating rate loan, does it mean you should not go for it? Common knowledge tells us not to, but experts think differently. Kartik Jhaveri, a Mumbai-based Certified Financial Planner, says, ?If you look at the present market conditions, interest rates have a possibility to fall more than they are expected to rise. So, choosing a floating rate loan will ensure that the rate decreases when the next rate cut happens.? Of course, he also says that in a rising interest rate scenario,(which is not the case now) this would have been a terrible choice. But now that the rates are falling, you could make the most of it under certain conditions.

What?s the condition:?Vivek Rege, another Mumbai CFP, echoes Jhaveri?s views. He says, ?If you are planning to take a car loan for a short term of say three years, a floating rate like SBI loan is a good idea.?

Of course, taking a floating rate loan for more than three years is not wise. He said, ?If you are planning for more than three years, go for a fixed rate loan. After all in the seven years, the rate cycle could change a couple of times.? SBI is currently offering the highest tenure of seven years. But you can choose lower tenure as well, with them.? Floating rate loan for longer tenure is definitely a no-no. But for a shorter duration, SBI seems like a good bet. Especially, since SBI does not charge a prepayment penalty.

If you plan to go for a longer term loan, check out the fixed rate loans. This will ensure that through out the tenure you will need to pay a fixed rate of interest. After all, for a longer term, who knows how many times the interest rate cycles will turn.

End Note:?As they say, principles are made for men and not men for principles. Sure, financial planning says when it?s a car loan, fixed is better then floating, but you should apply thumb rules only after looking into prevailing economic conditions. The RBI yesterday cut cash reserve ratio, and most expect the apex bank to cut policy rates in January. And by then real rates will surely start falling. So, do make the most of this festival season, choose the right type of rate (fixed or floating) based on the tenure of your loan. And do check the other same old same old parameters of processing fee and prepayment charges.

Source: http://www.firstpost.com/business/sbi-claims-its-loan-is-cheapest-but-is-it-really-the-best-deal-508644.html

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Feeling Is Believing | Psychology Today

Your beliefs will guide you whether or not they are in your best interest. Maybe you believe that you are incapable of having a healthy intimate relationship, or that you aren?t attractive to others, or think you will not live a long life. Or perhaps you have a strong conviction that you are very lucky, or that people in general are basically good and trustworthy. Whatever the belief may be, you hold it as a truth and perceive that those who disagree with you are thinking irrationally since, when it comes to beliefs, there is often no common evidence upon which agreement can be reached. ?Nevertheless, your beliefs, whether they are within your conscious awareness or not, direct and influence your life.

It?s only in recent decades that we?ve recognized and validated that emotions are a powerful attention directing system?an amplification device?in our brain. They are responsible for creating the visceral responses regarded as feelings, that in turn are transformed into thoughts and the formation of beliefs to help us make sense of what we experience at the moment and to use for future reference. Even the most simple beliefs have emotional memory at their core, such as a certain food, person, or place that may no longer appeal to you following an experience that resulted in you having a disgust response.

Logic may inform you that life experiences dictate the conclusions we draw and form the cognitive constructions that lead us to believe what we do. However, it is not simply that past experiences determine how we view and approach the present based on beliefs we?ve created and hold. Instead, our present beliefs are governed by past experiences that are linked to unconscious emotional memories. In his book, Shame and Pride: Affect, Sex, and the Birth of the Self, Donald Nathanson (1992) writes, ?Whatever resides in our memory is stored with its accompanying emotion; thus each of us has a highly personal ?information bank? of emotion-related data. This storehouse provides the coloration of an event?that which is personal for each of us? (p. 48).? Thus, as far as our beliefs are concerned, emotional memories provide an unconscious lens through which we view our world. In addition, our unconscious affects are subject to various influences as they become the emotions we consciously experience. J. Samuel Bois reminds us that, ?Apart from inherited variability, affects are made different in their manifestations and in their expected satisfactions by the culture in which we are brought up? (p. 260).

As noted in a previous blog, your emotional memory has accumulated a great amount of data that it uses to inform and protect you in the event that you encounter a similar situation in the future. How fortunate it is that the next time you encounter a situation?one that is similar to a previous event where an emotion was activated?your emotional memory will be able to recall what you experienced and respond accordingly.? The ability of the human brain to compare current experiences to the stored representations of previous experience is referred to as ?pattern matching? (Nathanson, 1992). But, at times, emotional memories that are based on your previous experiences may lead you to develop cognitive beliefs that may be contrary to your goals or interfere with them.? For example, what you may want most is an intimate and loving relationship, but you believe that you are unlovable or flawed and so you avoid closeness with others. However, experiencing oneself as unlovable or flawed does not necessarily translate directly to emotional memories where one was made to believe so. Instead, the emotional foundation of such beliefs often has to do with experiences related to shame?perhaps a subject for a future blog. The point is that emotional memories, and their impact on our beliefs, are complex.

Since conscious and unconscious beliefs are closely connected to your affects they can play out in your present life in many maladaptive ways. ?The psychoanalyst, Joseph Weiss (1997), refers to such beliefs as ?pathogenic? and developed his theory of psychopathology through empirical studies of guilt and shame?emotions that are central to the formation of the self and to one?s functioning in interpersonal relationships. Where Weiss refers to pathogenic beliefs, Silvan Tomkins (cited by Kelly, 2012), a psychologist and personality theorist, considers the formation of ?scripts? as the learning or knowledge structure (belief-formation) that results from the experience of emotion.? It is likely that many, if not most, theories of psychopathology and treatment have as their basis, overtly or not, an interface between emotions and beliefs.

Given that the muscle of emotion forms the foundation of a belief, it is no wonder why humans adhere to their adaptive as well as maladaptive ones.? Whether the belief has to do with food preferences, intimacy, religion, politics, or this blog, the beliefs that you ?feel? can interfere with your relationships with others and your ability to learn about yourself. Testing what you believe can only be accomplished in relation to an other, preferably an other with whom you have a trusting relationship. Thus, here I must call upon the wisdom of J. Samuel Bois (1968/2003), a psychologist, semanticist, and epistemologist, who wrote in Communication As Creative Experience, "Do not evaluate critically the other person's views against your own as the standard of truth and wisdom, but take his views as a tentative standard against which you re-examine and re-evaluate your own opinions and feelings"(p. 24).

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For information regarding my books about emotions:?http://www.marylamia.com

This blog is in no way intended as a substitute for medical or psychological counseling. If expert assistance or counseling is needed, the services of a competent professional should be sought.

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References

Bois, J. S. (1966/1996).?? The Art of Awareness.? Philosphere Publishers.

Bois, J.S. (1968/2003).? Communication As Creative Experience. Philosphere Publishers.

Kelly, V. (2012).? The Art of Intimacy and the Hidden Challenge of Shame. Tomkins Press.

Nathanson, D. (1992). Shame and Pride: Affect, Sex, and the Birth of the Self. New York: Norton.

Weiss, J. (1997). The role of pathogenic beliefs in psychic reality. Psychoanalytic Psychology. 14, 427-434.

Source: http://www.psychologytoday.com/blog/intense-emotions-and-strong-feelings/201210/feeling-is-believing

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AMBER Alerts Show Up In Google Maps Now By Leslie Horn? God...

AMBER Alerts Show Up In Google Maps Now

By Leslie Horn?

God forbid a child go missing, but if it happens now there?s another place you?re going to hear about it, because Google has added AMBER Alerts to Google Maps.