Hyundai Motor's 4Q profit dented by won's rise

SEOUL, South Korea (AP) ? South Korea's Hyundai Motor Co. reported its lowest quarterly profit in nearly two years Thursday due to lackluster car sales at home and a surge in the local currency that made it less competitive with Japanese automakers.

South Korea's largest automaker earned 1.89 trillion won ($1.77 billion) in the October-December quarter, down 5.5 percent over a year earlier.

The result was below the median analyst forecast of 2.05 trillion won, according to FactSet. It was also the automaker's smallest profit since the first quarter of 2011. Hyundai's shares fell 4.4 percent in Seoul after the earnings release.

Hyundai also said it put aside 240 billion won ($224 million) during the fourth quarter as compensation for American buyers after U.S. authorities found Hyundai overstated gas mileages. Hyundai said the estimate is based on $82 per vehicle compensated for 10 years

Sales rose 11 percent over a year earlier to 22.72 trillion won while operating profit fell 12 percent to 1.83 trillion won.

Even though Hyundai sold more vehicles in the fourth quarter over a year earlier, its profit was lower because the won's rise eroded overseas profit and made it harder to compete with Japanese rivals such as Toyota Motor Corp.

The won has been rising against the U.S. dollar and the yen as both the U.S. and Japan have implemented super easy monetary policy to boost their struggling economies.

Lee Won-hee, the company's chief financial officer, warned that a continued rise in the won could further hurt Hyundai's profit this year, even though its annual vehicle shipments are expected to rise 6 percent to 4.66 million in 2013.

Lee said the weak yen could intensify competition from Japanese cars in Australia and Russia in particular.

In South Korea, where Japanese firms are selling cars manufactured in U.S. factories to benefit from the free trade agreement between Seoul and Washington, Japanese firms may start directly shipping cars from Japan to South Korea if yen continues to weaken, Lee said.

They could also aggressively discount car prices to take market share from Hyundai and its Kia affiliate, who have been suffering from sluggish car demand at home.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-01-24-SKorea-Earns-Hyundai%20Motor/id-aece95020a1143b58fb3c72cf685aed2

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Greek police storm metro workers sit-in, strike goes on

ATHENS (Reuters) - Greek riot police stormed a train depot in Athens on Friday to disperse subway staff defying government orders to end their strike, intensifying a standoff that has paralyzed public transport in the city.

The Greek capital's subway lines remained shut for the ninth day as most subway workers continued a strike against planned wage cuts. But some were back on the job after being served the orders to return to work or face arrest.

The showdown has turned into the latest test for Greece's fragile three-party ruling coalition as it faces down powerful unions to implement austerity measures demanded by foreign lenders as the price for bailout funds.

Scuffles broke out when police forced their way through a metal gate shortly after 4 a.m. at the subway depot where 90 workers had gathered overnight in protest. Police detained at least 10 workers, an official said on condition of anonymity. One woman was taken to hospital with light injuries, he added.

Prime Minister Antonis Samaras's government has taken a hard line on the strike despite criticism from the smallest party in his three-party government.

"When labor action is judged illegal and abusive, the law has to be implemented. Everyone has made sacrifices and no one can ask to be made an exception," government spokesman Simos Kedikoglou told state TV NET on Friday.

Public anger has grown against the strike which affects more than half a million commuters in the city of 5 million people.

Other transport unions held strikes in solidarity with subway workers on Friday, leaving Athens without bus, trolley, tram and rail service and traffic jams across the city.

Subway employees oppose being included in a unified wage scheme for public sector workers drawn up under an austerity program that would slash their salaries.

Government orders to return to work, issued under emergency legislation, were being served to subway employees but many had yet to receive the notices and continued to strike, a subway union official said.

Under the emergency law meant to be used in times of war, natural disasters or for public health interests, workers can face arrest and up to five years in jail.

"Subway staff who have not received notices to return to work are participating in the 24-hour strike," Manthos Tsakos, general secretary of subway union SELMA told Reuters.

(Additional reporting by George Georgiopoulos, editing by Deepa Babington)

Source: http://news.yahoo.com/greek-police-storm-metro-workers-sit-strike-goes-090941664.html

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Experience The Magic Of Manali In The Luxurious Lap Of 5 Star Hotels

Manali: An Overview

Located in the vast expanse of the snow-covered Himalyas, Manali is magical and perfect place for romance and adventure. Honeymooning couples huddle close for warmth and intimacy;

children, invigorated by the cool mountain air, prance gaily; young adventurers head out in search of heart-stopping thrills; locals, in colourful mountain gait, shuffle to work" Slowly, as the chilled air permeates the senses, you succumb to the magic of the mountains.

The Manali Fact File

"Altitude ""1,926 metres above sea level
"Latitude 31 20"25" to 3225"0" North Latitude and longitude 7656"30" to 7752"20" East Longitude
"Area "" 5.12 km (core Manali town)
"Distance from nearby towns/cities: Shimla 270 km, Chandigarh 310 km, Ambala 365 km, Delhi 585 km
"Take away: Tibetan and Kashmiri handicrafts, hand-woven carpets, famous Kullu and hand-made shawls, Kullu caps, woollen wear
How to reach Manali
"By Air "" Closest airport is Bhuntar, 50 km (1.5 hour drive) from Manali
"By Rail "" Closest rail heads are Pathankot, Chandigarh, and Ambala
"By Road "" Well-connected by road with Delhi, Ambala, Chandigarh, Dehradun, Haridwar, Shimla, Dharamsala and Dalhousie; Himachal Tourism and Himachal Roadways offer daily Volvo luxury coach services from Delhi.

When to Visit

"You can visit breathtakingly beautiful Manali any time of the year. Ideal seasons, though, are April""June and September""December. The months of July and August are best avoided

due to rainfall and landslides.
"You could also choose a season depending on what you"d like to do here ""
Rohtang Pass "" Open from May to November 15 (depending on the weather)
Skiing "" November to February
"Paragliding "" April to November (depending on the weather)
Rafting "" Mid-April to June
"During your planned visit, a wide choice of 5 star and budget hotels gives you the comfort and luxury as per your needs.
"In general, if you"re looking for snow, winter months are the best. Summer months are better for sight-seeing, trekking, mountain climbing and other activities.

What to do and see in Manali

"Rafting
"Zorbing
"Paragliding
"Skiing
"Horse riding
"Canoeing, kayaking
"Trekking
"Mountaineering
"Biking
"Ancient temples
"Solang Valley
"Rohtang Pass
"Rahala Falls
"Manikaran
"Other hot springs
"Nagar Castle
"Roerich Museum ""
"Urusvati Himalayan Folk Art Museum Dechen Choekhor Monastery
"Gadhan Thekchoking Gompa
"Wildlife Sanctuaries

The Climate and Weather

"Summer Temperatures: 12C - 25 C
"Winter Temperatures: ""3C - 15C
"Heavy snowfall in winter (especially in January and February)
The belongings to take along with
"Layered clothing "" Places like Rohtang Pass are at significantly higher altitudes than Manali town and require much warmer clothing. Carry light as well as heavy warm clothes. Besides

heavy woollens for winter, also take a waterproof warm jacket. Carry light woollens for the rest of the months.
"Shoes "" Comfortable walking shoes; snow shoes if you"re visiting in December (these are also available on rent).
"Motion sickness medicines "" You may need this for the road journey to Manali and other mountain road trips. Take the medicines half-an-hour before starting the journey.
"Camera.
"Cash "" There are very few ATMs here, most of which are on Mall road in Manali town.
A map of Kullu-Manali and Himachal Pradesh
Where to stay
You can plan your stay in Manali as per your budget and needs. For premium tourists, 5 star hotels in Manali give you ultra-luxurious ambience. For budget travelers, there is a wide choice of
budget hotels in Manali that offers pleasant accommodation facility at reasonable prices.

About the Author:
Hotels in Goa - There are several 5 star hotels in hyderabad , beach hotels in Goa and getting details of five star hotels in goa is quite easy. budget hotels in delhi, 5 star hotels in Manali, budget hotels in agra, budget hotels in hyderabad.

Source: http://www.articlesnatch.com/Article/Experience-The-Magic-Of-Manali-In-The-Luxurious-Lap-Of-5-Star-Hotels/4396500

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Analysis of fracking wastewater yields some surprises

Jan. 22, 2013 ? Hydraulically fractured natural gas wells are producing less wastewater per unit of gas recovered than conventional wells would. But the scale of fracking operations in the Marcellus shale region is so vast that the wastewater it produces threatens to overwhelm the region's wastewater disposal capacity, according to new analysis by researchers at Duke and Kent State universities.

Hydraulically fractured natural gas wells in the Marcellus shale region of Pennsylvania produce only about 35 percent as much wastewater per unit of gas recovered as conventional wells, according to the analysis, which appears in the journal Water Resources Research.

"We found that on average, shale gas wells produced about 10 times the amount of wastewater as conventional wells, but they also produced about 30 times more natural gas," said Brian Lutz, assistant professor of biogeochemistry at Kent State, who led the analysis while he was a postdoctoral research associate at Duke. "That surprised us, given the popular perception that hydraulic fracturing creates disproportionate amounts of wastewater."

However, the study shows the total amount of wastewater from natural gas production in the region has increased by about 570 percent since 2004 as a result of increased shale gas production there.

"It's a double-edged sword," Lutz said. "On one hand, shale gas production generates less wastewater per unit. On the other hand, because of the massive size of the Marcellus resource, the overall volume of water that now has to be transported and treated is immense. It threatens to overwhelm the region's wastewater-disposal infrastructure capacity."

"This is the reality of increasing domestic natural gas production," said Martin Doyle, professor of river science at Duke's Nicholas School of the Environment. "There are significant tradeoffs and environmental impacts whether you rely on conventional gas or shale gas."

The researchers analyzed gas production and wastewater generation for 2,189 gas wells in Pennsylvania, using publicly available data reported by industry to the state's Department of Environmental Protection, in compliance with state law.

In hydraulic fracturing, large volumes of water, sand and chemicals are injected deep underground into gas wells at high pressure to crack open shale rock and extract its embedded natural gas. As the pace of shale gas production grows, so too have concerns about groundwater contamination and what to do with all the wastewater.

Another surprise that emerged, Doyle said, was that well operators classified only about a third of the wastewater from Marcellus wells as flowback from hydraulic fracturing; most of it was classified as brine.

"A lot of attention, to date, has focused on chemicals in the flowback that comes out of a well following hydraulic fracturing," he said. "However, the amount of brine produced -- which contains high levels of salts and other natural pollutants from shale rock -- has received less attention even though it is no less important."

Brine can be generated by wells over much longer periods of time than flowback, he noted, and studies have shown that some of the pollutants in brine can be as difficult to treat as many of the chemicals used in hydraulic fracturing fluids.

"We need to come up with technological and logistical solutions to address these concerns, including better ways to recycle and treat the waste on site or move it to places where it can be safely disposed," Doyle said. "Both of these are in fact developing rapidly."

"Opponents have targeted hydraulic fracturing as posing heightened risks, but many of the same environmental challenges presented by shale gas production would exist if we were expanding conventional gas production," Lutz added. "We have to accept the reality that any effort to substantially boost domestic energy production will present environmental costs."

The Marcellus shale formation stretches from New York to Virginia and accounts for about 10 percent of all natural gas produced in the United States today. Much of the current production is in Pennsylvania. Prior to technological advances in horizontal well drilling and hydraulic fracturing that made the shale gas accessible, the region accounted for only about 2 percent of the nation's output.

Lutz and Doyle conducted their analysis with no external funding.

Aurana Lewis, who graduated in 2012 with a master of environmental management degree from Duke's Nicholas School, co-authored the paper.

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Journal Reference:

1. Brian D. Lutz, Aurana N. Lewis and Martin W. Doyle. Generation, transport, and disposal of wastewater associated with Marcellus Shale gas development. Water Resources Research, 11 JAN 2013 DOI: 10.1002/wrcr.20096

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/top_news/top_technology/~3/U96Alr_8SeE/130122102104.htm

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Entrepreneurs, nonprofit executives invited to UT College of

The University of Toledo College of Business and Innovation will conduct a Franchise Summit Friday, Feb. 8, from 8 to 11 a.m. on Main Campus.

This free workshop is intended for area entrepreneurs considering this business structure as well as executives at nonprofit organizations who are exploring new options to fund their missions.

The featured speaker will be Dr. Ben Litalien, founder and principal of Franchise Well, a consulting practice dedicated to the enhancement of franchising. He is a frequent author and speaker on franchising, is a certified franchise executive as designated by the International Franchise Association, and he designed and oversees the Franchise Management Certificate Program at Georgetown University.

?Franchising is a powerful model for generating value,? Litalien said. ?Entrepreneurs and nonprofit management should not miss this unique opportunity to learn how to harness franchising in new and beneficial ways, including growing business concepts, creating jobs, and achieving above market-rate returns.?

Litalien also will moderate a panel discussion that will include W. Rhett Linke, executive director of national business development, NISH; Jeannie Hylant, vice president, Hylant; Anthony Calamunci, attorney, franchise law group Roetzel & Andress; Kevin Lent, president, Sonic Drive-In; and Bryon Stephens, vice president, Marco?s Franchising.

?The University of Toledo College of Business and Innovation embraces its mission of presenting innovative ways to educate and assist the regional business community,? said Dr. Anand Kunnathur, executive associate dean of the college. ?Franchising is an increasingly popular and viable format for many people to establish their own businesses, so we are pleased to work with experts in this field to develop this free educational program.

?We know that the more we can do to help area businesses and entrepreneurs, the better it is for the regional economy,? Kunnathur said.

The Franchise Summit is free, but seating is limited. Register here.

This entry was posted ?on? Wednesday, January 23rd, 2013?at? 4:07 am?and is filed under? Business and Innovation, Events, UToday.
You can follow any responses to this entry through the RSS 2.0 feed.? You can leave a response, or trackback from your own site.?

Source: http://utnews.utoledo.edu/index.php/01_23_2013/entrepreneurs-nonprofit-executives-invited-to-ut-college-of-business-franchise-summit?utm_source=rss&utm_medium=rss&utm_campaign=entrepreneurs-nonprofit-executives-invited-to-ut-college-of-business-franchise-summit

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There's Always a Party Inside Rebecca Minkoff Stelle Speaker Purses

We've evolved past the point of shouldering giant boomboxes for something a bit more portable. Now the party can follow you in a more stylish way—Rebecca Minkoff and Stell? Audio's fly new clutches aren't really clutches at all. Rather, they're Bluetooth speakers. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/XBqFpxhyU_k/theres-always-a-party-inside-rebecca-minkoff-stelle-speaker-purses

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'I did it!'? Obama takes oath surrounded by family at White House

Larry Downing / Reuters

President Barack Obama gets a hug from his daughter Malia as wife Michelle and daughter Sasha looks on in the Blue Room of the White House in Washington, Jan. 20, 2013.

By Carrie Dann, Political Reporter, NBC News

President Barack Obama was officially sworn in Sunday for his second term as president of the United States, ahead of Monday's public events.

In a small and succinct ceremony at the White House, Obama recited the constitutionally mandated oath of office for the third of four expected times during his time in office. ?

Embracing his children after the oath, his younger daughter Sasha was heard to whisper ?good job, Daddy!??

"I did it!" he responded, before she observed "You didn't mess up."?

Sunday's official swearing-in, administered by Chief Justice John Roberts, was the 57th inauguration of a president in American history.?

This time, President Obama and Justice Roberts got the words right. The oath took 32 seconds inside the White House. NBC's Peter Alexander reports.

Wearing a dark suit and blue tie, Obama repeated the directive to ?preserve, protect, and defend the Constitution of the United States." He was joined by First Lady Michelle Obama and his daughters Sasha and Malia. ?

After thanking Roberts and waving to cameras, Obama and the first family left the White House's Blue Room. He will deliver his public inaugural address Monday on the west front of the United States Capitol.

During the brief swearing-in Sunday, the first lady -- who wore a dark blue dress -- held the family Bible upon which Obama laid his hand to swear the oath. According to inaugural officials, the Bible was a gift from Mrs. Obama?s father to his mother in 1958.

When Obama first took the oath of office on?Jan. 20?four years ago, he and Chief Justice John Roberts tripped up over the wording, raising concerns about whether the constitutional requirements were fulfilled to the letter of the law.? Roberts went to the White House the next day and administered it again in full.?

The short Sunday?ceremony was held because the constitutionally mandated inauguration date of Jan. 20 falls on a Sunday, so Obama will take the oath a fourth and final time on Monday before hundreds of thousands of observers on the National Mall.?

America may be politically divided, but most Americans report really liking Michelle Obama, who counts helping military families among her key initiatives. NBC's Kristen Welker reports.

The Monday ceremonies will include?the president's inaugural address, a?luncheon with the president and members? of Congress and the traditional inaugural parade and?balls.?

Ahead of the ceremony, the Obama family attended church at the Metropolitan African Methodist Episcopal Church in Washington , a historic place of worship that also hosted pre-inaugural services for former President Bill Clinton and Vice President Albert Gore.

Vice President Joe Biden was officially sworn in?at about 8:20 a.m. ET Sunday.

The small?weekend ceremonies for both men are a bit of a historical quirk, although today's swearing-in was the seventh in history to take place on a Sunday.? The last instance occurred in 1985, when President Ronald Reagan was formally sworn in for his second term in office.

Beginning with the second inauguration of Franklin D. Roosevelt in 1937, new presidents and vice presidents have been sworn in on Jan. 20 due to the changes laid out in the 20th Amendment to the Constitution.

(Before that, inaugurations were typically held on March 4, as directed by the 12th Amendment. But controversy over the length of the lame duck period forced that ceremony to be moved up by law).

Jewel Samad / AFP - Getty Images

Festivities for President Barack Obama's second inauguration.

RELATED: More Inauguration Day content from NBCPolitics.com

In addition, eight vice presidents have been administered the oath of office upon the death of a president. The hastily planned ceremonies have taken place in hotels, homes and -- famously, after the death of John F. Kennedy -- aboard Air Force One.?

The oath of office for the president is set out in the Constitution.

Article II, Section 1, states as follows "Before he enter on the execution of his office, he shall take the following oath or affirmation: -- "I do solemnly swear (or affirm) that I will faithfully execute the office of president of the United States, and will to the best of my ability, preserve, protect, and defend the Constitution of the United States."

Traditionally, two minor changes are made. First, the president taking the oath says his name after the first word ("I, Barack Hussein Obama"). And second, the phrase "so help me God" is added at the end.?

NBC's Pete Williams and Shawna Thomas contributed to this report.?

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Source: http://nbcpolitics.nbcnews.com/_news/2013/01/20/16589187-obama-to-take-official-oath-in-private-ceremony-sunday?lite

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