| Dollar Thrifty Hits a Big Pothole
The problems of the car rental business are deepening. On Feb. 4, Dollar Thrifty Automotive Group (DTG) shares plunged 35% after the firm nearly cutting in half its expectations for 2007 profits. Dollar Thrifty's news jolted the industry, raising worries that U.S. consumers are cutting back on their travel spending. Dollar Thrifty's larger rivals, Hertz Global Holdings (HTZ) and Avis Budget Group (CAR), at one point on Feb. 4 had fallen as much as 7% and almost 14% respectively. Fears of a recession add to the difficulties for car rental firms, already battling it out in a brutal business. The car rental industry's problems are similar to those of the airline industry, which has been notoriously tough on investors. Both are highly competitive industries with high fixed costs, so they find it tough to squeeze out profits on a regular basis.
Five key virtual-machine management questions
Virtual machines are hot, and their proliferation is spinning out of control. Why the virtual-machine rush? Easy: The "one operating system, one hardware host" rule is passé now that virtual-machine software lets companies stretch their hardware resources as far as their CPU capacity can take them. .
Snowkite expedition to cross North Dakota begins Monday Feb, 11th
You can keep track of our adventurers with daily call in reports starting Monday Feb 11th on KFGOs Jack and Sandy show. March 1st, they'll make their premier presentation of the expedition from 9 am to noon at the historic Fargo Theater. Tune in to Jack and Sandy and come to the Fargo Theater 9 am to noon March 1st to learn more and show your support. No admission thanks to the sponsors of the event. To Cross the Moon: Snowkiters to cross North Dakota to promote wind energy awareness begins Monday February 11th North Dakota is known by many in the renewable energy industry as the "Saudi Arabia of Wind" we have among the best measured wind resources in the world.
LTO sets sights on dirty, dilapidated cars
After cracking the whip on fixers, newly installed Land Transportation Offices (LTO) chief Alberto Suansing is setting his sights on dilapidated and dirty vehicles cruising on major highways across the country. Suansing said he has directed LTO law enforcers to apprehend and issue citation tickets to drivers of dirty, dilapidated and unsightly vehicles traveling on major highways. Aside from the decrepit vehicles, the LTO is also targeting vehicles with unauthorized commemorative plates, sirens and other illegal attachments. According to an LTO insider, some motorists driving rundown cars take the risk of venturing onto highways since the fine is only P150, the same amount imposed for reckless driving, illegal overtaking, and illegal parking. The source said dilapidated vehicles pose a "major problem" since if one conks out on a busy thoroughfare such as EDSA, it could trigger massive traffic jams Some local government units that have enacted their own local traffic management code and impose a penalty of P500 or more if the motorist committed the offense in their area of jurisdiction.
District gives more answers on $25.8M proposal
Wellsville Central School District officials heard two years ago about $1 million in EXCEL (Expanding our Children's Education and Learning) Aid from the state and started looking into a capital project proposal. Through a building conditions survey, tours of facilities and many meetings with the Community Advisory Committee and the input of staff, architect and construction manager, the project grew into a $25.8 million proposal. It includes state building aid of 93 percent (for about 95 percent of the project) and the district can use $746,327 in EXCEL Aid. The local share will be about $2,269,509. The average annual tax impact from the 15 years of the project debt retirement on a $40,000 home would be $38 per year for a homeowner without a STAR exemption, $9 per year for someone with a STAR Program exemption and $0 per year for someone with a Senior STAR exemption.
GM posts record loss, offers new round of buyouts
The company is reporting a loss of almost $39 billion last year, the largest annual loss ever for an American automaker. It largely was due to a third-quarter charge related to unused tax credits.
The company also announced it's offering a new round of buyouts to 74,000 hourly workers in the U.S.
Retirement-eligible workers will get between $45,000 and $62,500 as an incentive to retire, depending on their skill level. Younger workers can get up to $140,000 if they leave and cut all ties with the company.
GM says it expects the majority of workers to leave by July 1st. ©2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. .
Testimony ends on UW firebombing
The three-week trial of a violin teacher charged in a notorious 2001 firebombing at the University of Washington came to a close Thursday in Tacoma. Briana Waters, 32, faces a mandatory minimum of 35 years in prison if convicted of conspiracy, arson and use and possession of a destructive device. The fire, which destroyed the university's Center for Urban Horticulture, was one of at least 17 fires set by radical activists with the Earth Liberation Front and the Animal Liberation Front from 1996 to 2001. Waters, who lives in Oakland, maintained her innocence on the stand Wednesday, despite the testimony of two women convicted in the fire and records suggesting that she obtained a rental car used in the crime. Her lawyer, Robert Bloom, insisted during closing arguments Thursday that the women, Lacey Phillabaum and Jennifer Kolar, lied on the witness stand in an attempt to frame her and win lighter sentences.
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