Another Clean Tech Startup Goes Down: Better Place Is Bankrupt

The big lesson? Be a little more like Tesla

 

Electric car infrastructure company Better Place's move to file bankruptcy today marks the end of the road for a billion-dollar bet that Silicon Valley-style technological disruption could wean the world from fossil fuels.

Founded in 2007 in Palo Alto, California, by a charismatic former SAP executive named Shai Agassi, Better Place sought in one stroke to solve a conundrum: most electric cars were too expensive and too limited in their range to become a mass market alternative to the internal combustion engine. Agassi's solution was to separate the most expensive component of an electric vehicle, the battery, from the car. Drivers would buy or lease an electric car for a price comparable to a gasoline-powered model and Better Place would own the batteries. Paying a monthly fee based on how much they drove, drivers would gain access to Better Place's network of robotic switch stations to let them swap out depleted batteries for fresh ones in a matter of minutes.

READ MORE:  http://www.theatlantic.com/technology/archive/2013/05/another-clean-tech-startup-goes-down-better-place-is-bankrupt/276257/

HOLTZ-EAKIN: Sharp shoppers scuttle Obamacare

The young drop coverage to avoid higher premiums

The political travails of the Affordable Care Act — aka Obamacare — continue, as witnessed by the furor surrounding Health and Human Services Secretary Kathleen Sebelius‘ attempts to solicit funds to pay for its implementation. Politics do garner the bulk of the media attention, and the public may think that partisan battles will determine the law’s future. A recent poll sponsored by the American Action Forum, though, shows that the nuts and bolts of consumer decision-making may be its real Achilles heel.

At the heart of Obamacare is the goal of expanded health insurance coverage, and the law as originally passed envisioned coverage for an additional 30 million or so Americans. About one-half of these would purchase their insurance in the so-called “exchanges” — state-based marketplaces where approved coverage will be for sale for individuals and small businesses to purchase. An elaborate system of government subsidies would assist insurance for those making up to $89,000. Of course, as was settled by the Supreme Court decision, those who do not purchase insurance will be subject to a penalty, or extra tax.

Read more: http://www.washingtontimes.com/news/2013/may/20/sharp-shoppers-scuttle-obamacare/#ixzz2UmeYL5GR

Quantitative Easing: CNBC Explains

If you’ve been reading about the markets recently, it’s likely you’ve heard about quantitative easing, also known as QE. The U.S. central bank engages in quantitative easing to influence the economy by increasing cash in order to stimulate economic activity. But how does QE differ from normal federal reserve open market operations? Also, how does U.S. quantitative easing differ from Japan’s quantitative easing program? Salman Khan of the Khan Academy explains the finer points of quantitative easing.
From the first video, you’ll understand:

• How quantitative easing differs from normal Fed operations
• The types of assets purchased by the Fed under QE 

READ MORE:  http://www.cnbc.com/id/43268061

Electric-Car Maker Coda Files for Bankruptcy to Seek SaleCoda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC (FIG) unit for $25 million. The Los Angeles-based company, whose Coda Automotive unit also sought court protection, listed assets of as much as $50 million and debt of as much as $100 million today in the Chapter 11 filing in Wilmington, Delaware. The company said it intends to sell its assets within 45 days.

Coda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC (FIG) unit for $25 million.

The Los Angeles-based company, whose Coda Automotive unit also sought court protection, listed assets of as much as $50 million and debt of as much as $100 million today in the Chapter 11 filing in Wilmington, Delaware. The company said it intends to sell its assets within 45 days.

Coda’s bankruptcy is at least the third by an electric vehicle-related company in just over a year. A123 Systems Inc. (AONEQ), a battery supplier to Fisker Automotive Inc., another California-based maker of electric cars, filed for bankruptcy in October. Ener1 Inc., also a maker of batteries for electric cars, entered bankruptcy in January 2012. 

READ MORE:  http://www.bloomberg.com/news/2013-05-01/electric-car-maker-coda-files-for-bankruptcy-to-seek-sale-1-.html

Employee Benefits Fall As Firms Brace For ObamaCare

Employer spending on benefits rose at the slowest pace on record in the first quarter, as companies began bracing for higher health costs with next year's launch of ObamaCare.

Total benefits, such as insurance and pension contributions, rose just 0.1% vs. the end of last year, the smallest gain in Labor Department data going back to 2001. By comparison, payroll employment grew by a half-million, or 0.4%, in Q1. So benefits-per-worker declined.

Total employee benefits provided outside of government jobs declined outright.

Read More At Investor's Business Daily: http://news.investors.com/050113-654209-companies-cut-employee-benefits-as-obamacare-looms.htm#ixzz2UDl0NsLr

The Federal Reserve: CNBC Explains

The Federal Reserve System—or the "Fed" as it's known—arguably plays the most crucial role in the U.S. economy.

Yet most people have little idea how the Fed works, what it actually does and why its decisions have so much impact. Here are the details.

What is the Federal Reserve? 

The Fed is the gatekeeper of the U.S. economy and is part of the federal government.
Based in Washington, D.C., the Fed is the bank of the U.S. government and regulates the nation's financial institutions. It's comprised of a network of 12 Federal Reserve Banks and a number of branches. This is all overseen by the Fed's Board of Governors, which we'll detail a little later.

READ MORE:  http://www.cnbc.com/id/43752521

Center City Job Fair For Ex-Offenders Is Canceled After 3,000 Show Up

By Cherri Gregg

PHILADELPHIA (CBS) — The City of Philadelphia shut down a career fair for ex-offenders today after an unexpected crowd of thousands showed up, résumés in hand.

There were lots of disppointed job seekers and potential employers this morning.

The city was expecting about 1,000 people to show up, but about three times that number were standing in a line that wrapped around the Municipal Services Building, across from City Hall.

And when someone jumped the line, order collapsed.

There was no yelling, no shoving — just 3,000 people all trying to get into the job fair at once.

READ MORE:  http://philadelphia.cbslocal.com/2013/05/17/center-city-job-fair-for-ex-offenders-is-canceled-after-3000-show-up/