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cartechboy writes There's been plenty of skepticism when it comes to Tesla. The Silicon Valley startup unveiled an all-electric car that stunned the world and had many other automakers rolling their eyes. Fast forward to 2014 and Tesla's preparing to launch its third model, the Model X. Production of the Model S sedan is humming along, and this new automaker continues to make headlines multiple times a week. Industry veteran Bob Lutz was the champion behind the Chevrolet Volt, and has been quite vocal about Tesla from the beginning. So what's his view on the company now? He said Tesla will remain a "fringe brand" until it launches its next generation of vehicles and the smaller, less expensive Model 3. Speaking Wednesday on CNBC's "Squawk Alley" finance show he said that Tesla's stock price was "kinda high" at the moment.
266 comments | 2 days ago
HughPickens.com writes Auto loans to borrowers considered subprime, those with credit scores at or below 640, have spiked in the last five years with roughly 25 percent of all new auto loans made last year subprime, a volume of $145 billion in the first three months of this year. Now the NYT reports that before they can drive off the lot, many subprime borrowers must have their car outfitted with a so-called starter interrupt device, which allows lenders to remotely disable the ignition. By simply clicking a mouse or tapping a smartphone, lenders retain the ultimate control. Borrowers must stay current with their payments, or lose access to their vehicle and a leading device maker, PassTime of Littleton, Colo., says its technology has reduced late payments to roughly 7 percent from nearly 29 percent. "The devices are reshaping the dynamics of auto lending by making timely payments as vital to driving a car as gasoline."
Mary Bolender, who lives in Las Vegas, needed to get her daughter to an emergency room, but her 2005 Chrysler van would not start. Bolender was three days behind on her monthly car payment. Her lender remotely activated a device in her car's dashboard that prevented her car from starting. Before she could get back on the road, she had to pay more than $389, money she did not have that morning in March. "I felt absolutely helpless," said Bolender, a single mother who stopped working to care for her daughter. Some borrowers say their cars were disabled when they were only a few days behind on their payments, leaving them stranded in dangerous neighborhoods. Others said their cars were shut down while idling at stoplights. Some described how they could not take their children to school or to doctor's appointments. One woman in Nevada said her car was shut down while she was driving on the freeway. Attorney Robert Swearingen says there's an old common law principle that a lender can't "breach the peace" in a repossession. That means they can't put a person in harm's way. To Swearingen, that would mean "turning off a car in a bad neighborhood, or for a single female at night."
904 comments | about a week ago
An anonymous reader writes Apple has announced that it sold over 10 million new iPhone 6 and iPhone 6 Plus models, just three days after the launch on September 19. From the article: "Chief Executive Tim Cook said the company could have sold even more iPhone 6 and iPhone 6 Plus models if supplies had been available. Analysts had estimated first-weekend sales of up to 10 million iPhones, after Apple booked record pre-orders of 4 million on Sept. 12, the day pre-orders opened."
206 comments | about two weeks ago
The Verge reports that Montreal startup Vrvana has produced a prototype of its promised (and crowd-funded) VR Totem headset. One interesting aspect of the Totem is the inclusion of front-facing cameras, one over each eye, the output of which can be fed to the displays. Reviewer Mike Futter has worn a prototype, and seems to be generally impressed, writing at Game Informer: Vrvana’s device offers 1080p resolution and features 90-degree field of view (the same as the Project Morpheus, but less than the Oculus Rift's 100-degree FOV), an OLED display, and adjustable lenses that can compensate for lens prescription. The HMD is usable by glasses wearers, but the tuning provides an option for those that don't want to wear corrective lenses while in VR. The system connects via HDMI to any source, and can model 3D (side-by-side) from game consoles as virtual reality right now. The Totem is currently compatible with all Oculus developer kit 1 applications, and Vrvana is working on getting DK2 experiences working. The prototype I wore was a good proof of concept, but didn't yet feature the OLED screen. This led to increased persistence due to the LCD. The head tracking also wasn't perfect, requiring some software tuning to prevent drift (something easily surmountable down the road). The clarity was impressive, rivaling some of the best experiences I've had with a Rift or Morpheus.
25 comments | about two weeks ago
schwit1 (797399) writes "Rumors are flying that some of the individuals who gave Virgin Galactic deposits for space tourism flights on SpaceShipTwo are demanding their money back. It appears that the most recent delay, revealed by Branson on David Letterman, is the cause." How much would you pay to go to space, if the ticket was only good starting 10 years from now? How about 20? How about, as Branson claims, if it was early next year?
77 comments | about two weeks ago
lpress writes Alibaba is this week's hot news — they have had a lengthy PR campaign (preceded by a documentary film) followed by a record-setting stock offering. After a day of trading Alibaba's market capitalization was comparable to that of established tech giants. But, there are cultural and structural differences between Alibaba and U.S. companies. Alibaba is tightly woven into a complex fabric of personal, corporate and government organization relationships. The same can be said of information technology companies in Singapore. Is owning a share of, say, Apple, conceptually the same as owning a share of Alibaba?
122 comments | about two weeks ago
An anonymous reader writes with this report from The Verge linking to and excerpting from a newly released report created for a committee in the U.S. House of Representatives, including portions of eight "damning emails" that offer an unflattering look at the rollout of the Obamacare website. The Government Office of Accountability released a report earlier this week detailing the security flaws in the site, but a report from the House Committee on Oversight and Government Reform released yesterday is even more damning. Titled, "Behind the Curtain of the HealthCare.gov Rollout," the report fingers the Centers for Medicare and Medicaid Services, which oversaw the development of the site, and its parent Department of Health and Human Services. "Officials at CMS and HHS refused to admit to the public that the website was not on track to launch without significant functionality problems and substantial security risks," the report says. "There is also evidence that the Administration, to this day, is continuing its efforts to shield ongoing problems with the website from public view." Writes the submitter: "The evidence includes emails that show Obamacare officials more interested in keeping their problems from leaking to the press than working to fix them. This is both both a coverup and incompetence."
392 comments | about two weeks ago
New submitter atagunov writes "Video clips have been released as crowdfunding starts for the world first open source cinematic videocam. "I am a filmmaker myself ... I would like to have powerful tools that I know to have full control over and that I can tune and tweak," says Sebastian Pichelhofer of Apertus. He is working on the Axiom Beta, the 2nd generation Apertus videocam, fully open sourced under GPL and OHL. It's not cheap compared to consumer-grade cameras, but being not-cheap hasn't stopped people from snapping up Joel Rubenstein's Digital Bolex.
51 comments | about two weeks ago
An anonymous reader writes The Chinese e-commerce giant Alibaba has made headlines lately in US financial news. At the closing of its Initial Public Offering (IPO) on Friday, it had raised $21.8 billion on the New York Stock Exchange, larger even than Visa's ($17.9 billion), Facebook's ($16 billion), and General Motors ($15.8 billion) IPOs. Some critics do say that Alibaba's share price will plummet from its current value of $93.60 in the same way that Facebook's and Twitter's plummeted dramatically after initial offerings. Before we speculate, however, we should take note of what Alibaba is exactly. Beyond the likes of Amazon and eBay, Alibaba apparently links average consumers directly to manufacturers, which is handy for an economy ripe for change. Approximately half of Alibaba's shares "were sold to 25 investment firms", and "most of the shares went to US investors."
191 comments | about two weeks ago
dcblogs writes: Scotland is not a major high-tech employment center, but it has good universities and entrepreneurial energy. About 70,000 people work in tech out of a total workforce of about 2.5 million, or about 3%. By contrast, financial services accounts for about 15% of employment in Scotland. But passions are high. "Honest, I've never been so scared in my life," said Euan Mackenzie about the prospect of separating from the U.K. He runs a 16-employee start-up, 1partCarbon, in Edinburgh, a platform that builds medical systems. "For tech start-ups, funding will be tougher to find and more expensive, there will be no local banks, access to EU markets and the freedom of movement will be curtailed," said Mackenzie. "As someone who enjoys risk and new opportunities, my company will remain in Scotland and make the best of whichever side prevails on Thursday, but the effect of independence on tech start-ups and the whole Scottish economy will be cataclysmic," he said.
494 comments | about two weeks ago
An anonymous reader writes: If you're a creative engineer looking to build a product, you're probably going to end up starting your own business or joining an established one. That's where ideas get funding, and that's where products make a difference (not to mention money). Unfortunately, it also siphons a lot of the tech-related talent away from government (and by extension, everybody else), who could really benefit from this creative brilliance. That's why investor Ron Bouganim just started a $23 million fund for investment in tech companies that develop ideas for the U.S. government. Not only is he hoping to transfer some of the $74 billion spent annually by the government on technology to more efficient targets, but also to change the perception that the best tech comes from giant, entrenched government contractors.
64 comments | about two weeks ago
An anonymous reader writes with this piece about Digital Knights, the studio behind the Kickstarter campaign project Sienna Storm, which was cancelled this week after the team raised only 10% of their $180,000 target, despite a compelling concept (a card based espionage game) and a reputable team including the writer of the original Deus Ex, Sheldon Pacotti. The team is now seeking alternative funding before reaching out to publishers, but in an interview given this week, Knights CEO Sergei Filipov highlights what he sees as a recent and growing problem with crowdfunding games: an expectation to see a working prototype. "It seems at least 50 or 60 percent of the game needs to be completed before one launches a campaign on Kickstarter," he says. It's a chicken and egg cycle some indie developers will struggle to break out of, and shows just how far we've come since Tim Schafer's Double Fine Adventure Kickstarter burst the doors open two years ago.
215 comments | about three weeks ago
Calibax writes NVIDIA has filed complaints against Samsung and Qualcomm at the ITC and in the U.S. District court in Delaware. The suit alleges that the companies are both infringing NVIDIA GPU patents covering technology including programmable shading, unified shaders and multithreaded parallel processing. NVIDIA is seeking damages and a ban on U.S. import of a number of devices with Snapdragon and Exynos processors until there is an agreement on licensing.
110 comments | about a month ago
An anonymous reader writes New Zealand is facing its weirdest election ever with a hacker calling himself "Rawshark" progressively dumping emails hacked from a controversial blogger. This weekend, revelations forced the resignation of one Government minister and nobody knows what will drop next. Emails revealed that the blogger, called "Whale Oil", was in contact with both a government minister in charge of New Zealand's white collar crime investigations unit and with a PR man acting for a founder of a failed finance company then under investigation.
75 comments | about 1 month ago
SpzToid (869795) writes The state of Oregon sued Oracle America Inc. and six of its top executives Friday, accusing the software giant of fraud for failing to deliver a working website for the Affordable Care Act program. The 126-page lawsuit claims Oracle has committed fraud, lies, and "a pattern of activity that has cost the State and Cover Oregon hundreds of millions of dollars". "Not only were Oracle's claims lies, Oracle's work was abysmal", the lawsuit said. Oregon paid Oracle about $240.3 million for a system that never worked, the suit said. "Today's lawsuit clearly explains how egregiously Oracle has disserved Oregonians and our state agencies", said Oregon Atty. Gen. Ellen Rosenblum in a written statement. "Over the course of our investigation, it became abundantly clear that Oracle repeatedly lied and defrauded the state. Through this legal action, we intend to make our state whole and make sure taxpayers aren't left holding the bag."
Oregon's suit alleges that Oracle, the largest tech contractor working on the website, falsely convinced officials to buy "hundreds of millions of dollars of Oracle products and services that failed to perform as promised." It is seeking $200 million in damages. Oracle issued a statement saying the suit "is a desperate attempt to deflect blame from Cover Oregon and the governor for their failures to manage a complex IT project. The complaint is a fictional account of the Oregon Healthcare Project."
212 comments | about a month ago
gthuang88 writes: As the marketing hype around "big data" subsides, a recent wave of startups is solving a new class of data-related problems and showing where the field is headed. Niche analytics companies like RStudio, Vast, and FarmLink are trying to provide insights for specific industries such as finance, real estate, and agriculture. Data-wrangling software from startups like Tamr and Trifacta is targeting enterprises looking to find and prep corporate data. And heavily funded startups such as Actifio and DataGravity are trying to make data-storage systems smarter. Together, these efforts highlight where emerging data technologies might actually be used in the business world.
87 comments | about a month ago
hackingbear writes: According to a new Cost-Competitiveness Index, the nations often perceived as having low manufacturing costs — such as China, Brazil, Russia, and the Czech Republic — are no longer much cheaper than the U.S. In some cases, they are estimated to be even more expensive. Chinese manufacturing wages have nearly quintupled since 2004, while Mexican wages have risen by less than 50 percent in U.S. dollar terms, contrary to our long-standing misconception that their labors were being slaved. In the same period, the U.S. wage is essentially flat, whereas Mexican wages have risen only 67%. Not all countries are taking full advantage of their low-cost advantages, however. The report found that global competiveness in manufacturing is undermined in nations such as India and Indonesia by several factors, including logistics, the overall ease of doing business, and inflexible labor markets.
233 comments | about a month ago
mdsolar sends this news from the Associated Press:
Expensive delays are piling up for the companies building new nuclear power plants, raising fresh questions about whether they can control the construction costs that crippled the industry years ago. The latest announcement came this week from executives at SCANA Corp., which has been warned by its builders the startup of the first of two new reactors in South Carolina could be delayed two years or more. ... That announcement may well foreshadow more delays for a sister project in eastern Georgia, and they have caught the attention of regulators and Wall Street. 'Delays generally cause cost increases, and the question becomes who's going to bear the costs?' said C. Dukes Scott, executive director of the South Carolina Office of Regulatory Staff, a watchdog agency that monitors SCANA Corp.'s spending.
None of this is helpful for the nuclear power industry, which had hoped its newest generation of plants in Georgia and South Carolina would prove it could build without the delays and cost overruns so endemic years ago. When construction slows down, it costs more money to employ the thousands of workers needed to build a nuclear plant. Meanwhile, interest charges add up on the money borrowed to finance construction. A single day of delay in Georgia could cost $2 million, according to an analysis by utility regulators.
142 comments | about a month and a half ago
Ars Technica reports that "J. Michael Straczynski will shortly begin work on a rebooted big-screen version of his 1990s sci-fi TV series [ Babylon 5]." From the article: According to JMS's latest announcement, the new script will be targeted at a 2016 theatrical release and will be a reboot of the series rather than a continuation. This is necessary for both dramatic and practical purposes—the series was in regular production from 1994-1998, and the cast has simply aged too far to credibly play themselves again during the series’ main timeline. Additionally, several of the foundational cast members — Michael O'Hare, Andreas Katsulas, Richard Biggs, and Jeff Conaway — have passed away. ... The movie rights to the Babylon 5 property remain in JMS's hands, but the creator is hopeful that this time around, Warner Bros. will choose to finance the film instead of passing on it. Nonetheless (at least according to TV Wise), JMS is prepared to fund the movie through his own production company if necessary — something that wasn't a possibility ten years ago — suggesting that B5 will in fact come to the big screen at last.
252 comments | about 2 months ago
jrepin sends this EU report: The French city of Toulouse saved 1 million euro by migrating all its desktops from Microsoft Office to LibreOffice. This project was rooted in a global digital policy which positions free software as a driver of local economic development and employment. Former IT policy-maker Erwane Monthubert said, "Software licenses for productivity suites cost Toulouse 1.8 million euro every three years. Migration cost us about 800,000 euro, due partly to some developments. One million euro has actually been saved in the first three years. It is a compelling proof in the actual context of local public finance. ... France has a high value in free software at the international level. Every decision-maker should know this."
296 comments | about 2 months ago