Posts Tagged ‘Credit’
Bad credit car finance: Get to drive your own car
Author: admin
Car Financing
MOUNT AN DO ME …..item 1..China Consolidates Grip on Rare Earths — forcing prices to rise eightfold to fortyfold (September 15, 2011) …
An 11-watt G.E. compact fluorescent bulb — the lighting equivalent of a 40-watt incandescent bulb — was priced on Thursday ..(9/15/2011).. at .88 on Wal-Mart’s Web site for pickup in a Nashville, Ark., store.
…..item 1)….website….Yahoo! Finance….
The New York Times
KEITH BRADSHER, On Thursday September 15, 2011, 7:46 pm EDT
finance.yahoo.com/news/China-Consolidates-Grip-on-nytimes…
BEIJING — In the name of fighting pollution, China has sent the price of compact fluorescent light bulbs soaring in the United States.
By closing or nationalizing dozens of the producers of rare earth metals — which are used in energy-efficient bulbs and many other green-energy products — China is temporarily shutting down most of the industry and crimping the global supply of the vital resources.
China produces nearly 95 percent of the world’s rare earth materials, and it is taking the steps to improve pollution controls in a notoriously toxic mining and processing industry. But the moves also have potential international trade implications and have started yet another round of price increases for rare earths, which are vital for green-energy products including giant wind turbines, hybrid gasoline-electric cars and compact fluorescent bulbs.
General Electric, facing complaints in the United States about rising prices for its compact fluorescent bulbs, recently noted in a statement that if the rate of inflation over the last 12 months on the rare earth element europium oxide had been applied to a cup of coffee, that coffee would now cost .55.
An 11-watt G.E. compact fluorescent bulb — the lighting equivalent of a 40-watt incandescent bulb — was priced on Thursday at .88 on Wal-Mart’s Web site for pickup in a Nashville, Ark., store.
Wal-Mart, which has made a big push for compact fluorescent bulbs, acknowledged that it needed to raise prices on some brands lately. “Obviously we don’t want to pass along price increases to our customers, but occasionally market conditions require it,” Tara Raddohl, a spokeswoman, said. The Chinese actions on rare earths were a prime topic of conversation at a conference here on Thursday that was organized by Metal-Pages, an industry data firm based in London.
Soaring prices are rippling through a long list of industries.
“The high cost of rare earths is having a significant chilling effect on wind turbine and electric motor production in spite of offsetting government subsidies for green tech products,” said one of the conference attendees, Michael N. Silver, chairman and chief executive of American Elements, a chemical company based in Los Angeles. It supplies rare earths and other high-tech materials to a wide range of American and foreign businesses.
But with light bulbs, especially, the timing of the latest price increases is politically awkward for the lighting industry and for environmentalists who backed a shift to energy-efficient lighting.
In January, legislation that President George W. Bush signed into law in 2007 will begin phasing out traditional incandescent bulbs in favor of spiral compact fluorescent bulbs, light-emitting diodes and other technologies. The European Union has also mandated a switch from incandescent bulbs to energy-efficient lighting.
Representative Michele Bachmann of Minnesota is running for the Republican presidential nomination on a platform that includes strong opposition to the new lighting rules in the United States and has been a leader of efforts by House Republicans to repeal it.
China says it has largely shut down its rare earth industry for three months to address pollution problems. By invoking environmental concerns, China could potentially try to circumvent international trade rules that are supposed to prohibit export restrictions of vital materials.
In July, the European Union said in a statement on rare earth policy that the organization supported efforts to protect the environment, but that discrimination against foreign buyers of rare earths was not allowed under World Trade Organization rules.
China has been imposing tariffs and quotas on its rare earth exports for the last several years, curtailing global supplies and forcing prices to rise eightfold to fortyfold during that period for the various 17 rare earth elements.
Even before this latest move by China, the United States and the European Union were preparing to file a case at the W.T.O. this winter that would challenge Chinese export taxes and export quotas on rare earths.
Chinese officials here at the conference said the government was worried about polluted water, polluted air and radioactive residues from the rare earth industry, particularly among many small and private companies, some of which operate without the proper licenses. While rare earths themselves are not radioactive, they are always found in ore containing radioactive thorium and require careful handling and processing to avoid contaminating the environment.
Most of the country’s rare earth factories have been closed since early August, including those under government control, to allow for installation of pollution control equipment that must be in place by Oct. 1, executives and regulators said.
The government is determined to clean up the industry, said Xu Xu, chairman of the China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters, a government-controlled group that oversees the rare earth industry. “The entrepreneurs don’t care about environmental problems, don’t care about labor problems and don’t care about their social responsibility,” he said. “And now we have to educate them.”
Beijing authorities are creating a single government-controlled monopoly, Bao Gang Rare Earth, to mine and process ore in northern China, the region that accounts for two-thirds of China’s output. The government is ordering 31 mostly private rare earth processing companies to close this year in that region and is forcing four other companies into mergers with Bao Gang, said Li Zhong, the vice general manager of Bao Gang Rare Earth.
The government also plans to consolidate 80 percent of the production from southern China, which produces the rest of China’s rare earths, into three companies within the next year or two, Mr. Li said. All three of these companies are former ministries of the Chinese government that were spun out as corporations, and the central government still owns most of the shares.
The taxes and quotas China had in place to restrict rare earth exports caused many companies to move their factories to China from the United States and Europe so that they could secure a reliable and inexpensive source of raw materials.
China promised when it joined the W.T.O. in 2001 that it would not restrict exports except for a handful of obscure materials. Rare earths were not among the exceptions.
But even if the W.T.O. orders China to dismantle its export tariffs and quotas, the industry consolidation now under way could enable China to retain tight control over exports and continue to put pressure on foreign companies to relocate to China.
The four state-owned companies might limit sales to foreign buyers, a tactic that would be hard to address through the W.T.O., Western trade officials said.
Hedge funds and other speculators have been buying and hoarding rare earths this year, with prices rising particularly quickly through early August, and dipping since then as some have sold their inventories to take profits, said Constantine Karayannopoulos, the chief executive of Neo Material Technologies, a Canadian company that is one of the largest processors in China of raw rare earths.
“The real hot money got into the industry building neodymium and europium inventories in Shanghai warehouses,” he said.
Stephanie Clifford contributed reporting from New York.
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Bad credit car finance: Get to drive your own car
Article by Steve C Clark
Car Financing question by here_4_1_day: I want to finance a car but am unsure as to how financing works. Can someone explain it to me?
I have a very good credit score. I am in need of a car right now, but cant pay for it all at once. I got some advice from someone to finance a car. What exactly is financing?
Car Financing best answer:
Answer by twofortwo
Financing is simply getting a loan to pay for your car. The financing is usually arranged by a car dealer with his finance companies or banks, but you can arrange your financing at your own bank or credit union.
Your credit score is important to getting the best interest rate. But it is also necessary to have an income and no excessive debt. You might find the following article useful:
http://www.firstcarguide.com/finance/auto-loan-basics.html
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Bad Credit Car Finance
Author: admin
Car Financing
Brooklyn Trolley Cars Panoramic
Four-picture stitched panoramic of 3 trolley cars parked indefinitely along the water"s edge at Brooklyn"s Redhook. There was an effort about 12 years ago to re-establish a short exposition line here but it fell through on so many levels.
Financing, insurance liability, bureaucracy and sore words exchanged.
Note the overhead wires set up!
Old 1880s warehouse is now a high-end supermarket and an art gallery. Minolta D500 A man name Bob Diamond has for years been trying to preserve and make active and viable a short-run trolley service in Red Hook. There have been many "ups and downs" in his efforts. Note: he even had the electrified overhead wires installed at one point. Today they remain in storage here which is better than demolished so far. talk.nycsubway.org/perl/read?subtalk=614058
MORE INFO…
www.forgotten-ny.com/TROLLEYS/redhook/redhook.html
Bad Credit Car Finance
Article by Brayden Cox
I know that many people need to have their own car for their personal purposes. Long time ago, cars are just for the one that could afford to have it. Well, who cannot deny the fact that until now, the trend of buying a brad new car in cash is just for the one who could able to release their thousands of dollars that may be the full amount of a certain car. You may need to buy your own car but there’s a doubt within you that your bad credit may be the hindrance of availing your dream vehicle. What I am trying to say is that you need a loan from a car finance company but the bad credit that you may have might hinder the release of an amount that you need in buying your car. Well, to be exact, you don’t have to worry for that problem. Actually, the purpose of the existence of a bad credit car finance loan are fully designed for the people who have a bad credit. Hence, this bad credit car finance could make your dreams come true- availing a used or even a brand new car. Now, because of the easier processes of a bad credit car finance loan, you can select the a brand new car. Well, of course, you are also aspiring the one that has a good condition and at the same time, the one that has a brand of a new technology. What I mean is that many people do not settle for a used one but rather get the aid of a bad credit car finance loan and enjoy the ownership of a brand new car. As a car buyer, bad credit does not really count much at the time of seeking the financing for the prospect car. You should know that the provider of a bad credit car finance is securing the the amount that is being loaned and the car is being used as a collateral. This means that the lender will take all the papers necessary for the car and these will just be given to you as soon as you finish the payment of the amount being loaned- which is the cost of the car itself plus the interest. Even that you have a bad credit, your needed car finance will be provided at a lower interest rate as long as the finances is being secured through a car itself. Thus, the offering is usually offered for a short period of time. However, if you consider yourself to be a bad credit person, you have to take in your mind that there are some factors to be considered in order that your finance will be approved as long as possible. You have to make sure that you are not approaching a bad credit car finance company that charge a very high interest. Well, it is not wise to deal with the one that make you pay more that thirty percent of your annual income towards the debt. It is easy to have an access with a bad credit car finance but make sure that you will pay the finances in time.
Car Financing question by hurleyqtgurlie: What is the difference between financing a car thru a dealership and getting an auto loan through your bank?
I’m purchasing a new car soon and I alaways see specials for financing a car thru a dealership. What is the difference? I was planning on going through my credit union.
Car Financing best answer:
Answer by jay
It’s easier through the dealer, but typically a higher interest rate. You credit union should have lower rates and will offset the extra time.