sellmycarsussex.co.uk

Although it does make it sound like a range of Stannah stairlifts or motorised wheelchairs, forward-thinking manufacturer Peugeot is developing a range of ‘mobility options’, including cars, motorbikes and automobiles, to meet the changing needs of increasing urban traffic and an ever more environmentally conscious consumer.  One of these new vehicles is the Peugeot BB1, not the sleekest vehicle in the world but with a 3.5m turning circle at least you’ll never have to worry about room for a 3 point turn.  The car uses electric energy and solar panels and has a unique bubble shape and a length of 2.5m that still accommodates four people.  The future’s bright, the future’s bubble-shaped..

Electric cars are the hot topic right now – from the poor fool on Dragons Den who tried to pitch his design (“you’re too late!” screeched Deborah Meaden “the revolution is already under way!” Or something to that effect…) to Boris Johnson, everyone’s jumping on the bandwagon.  However, although this might make it seem like you could go and buy one now, mass availability is still quite a long way off.  Having said that, you could pop out and buy one if you looked really hard but you’re unlikely to find one that travels above 60mph and until the government introduces its safety criteria it’s all a bit touch and go.  The government is introducing subsidies for the electric car in 2011, indicating perhaps that by then they should be fully on the market.

Apparently the Peugeot 107 has been named as the best car in the UK for maintaining its value.  As opposed to the usual speedy depreciation, the car holds 60.9% of its £8,595 buy it new price three years after purchase.  Factors responsible for the price maintenance include the fact that the car is fuel-efficient and has low road tax. Glass’s Guide, the company that compiled the figures, revealed: “What really makes a difference is purchase price and everyday running costs.”  In terms of other cars, the Toyota Aygo held at 60.2%, the Suzuki Swift at 59.5% and the BMW MINI 58.9% of its original value.

The results of the top US banks stress tests is due out on Thursday.  The progress made in the sector most notably Goldman Sachs first quarter results could come to an alarming halt if these figures are not taken well by the markets.

The sensitive information is being relayed all at once to avoid a run on any particular bank. However, there will certainly be fallout and a dividing line between those who will need further capital and those who don’t will inevitably be drawn.

What is more interesting is what the stress test involved. If it was not robust and did not include off balance sheet assets then this whole procedure is effectively pointless.  The financial skulduggery of the last decade has meant that the stock market quoted element of the bank is not the only part of it’s operations.

For instance Citigroup has assets of around $2.2 trillion but has another $1.1 trillion off balance sheet. Effectively meaning that Citigroup is really 50% times larger with 50% more liabilities than it’s share price would suggest. Oh yes, you also can’t find out what these assets are either, they are simply not accountable, therefore they don’t show up in the accounts.

These off balance sheet accounting practises have hidden risk for a decade now, the regulators have had no access to this world, indeed they didn’t even seem to realise it existed.  If progress is to be made then these assets must be included, for better or for worse. Not to do so would be equivalent of sweeping the problems under the accountancy magic carpet.

http://uk.reuters.com/article/businessNews/idUKTRE5440OG20090505

http://www.bloomberg.com/apps/news?pid=20601087&sid=aiw0TbO.lTsM&refer=home

http://globaleconomicanalysis.blogspot.com/2008/07/citigroups-11-trillion-in-mysterious.html

Chrysler is in the middle of a bankruptcy restructuring and FIAT has turned out to be the best potential suitor for the carcass. This would give FIAT the scale it needs to be competitive in the New World Order and  Chrysler a new lease of life with more up to date technology and  work practises.

However  do not expect the fallout to be quite as harmless as the first article suggests. After all we are talking about 50,000 employees, 3,227 dealerships and 150 major suppliers.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aOofvGXOZKk4&refer=home

A bit of a car for the times, with cheap insurance, tax and running costs plus being cheaper than the equivalent petrol makes this a winner. It pretty good looking too.

http://www.topgear.com/uk/volkswagen/scirocco/gallery#0

http://www.topgear.com/uk/volkswagen/scirocco/road-test/gt-2.0-tdi

With the majority of sales  in India and Japan, Suzuki has avoided the worst of the global downturn in car sales. However the worry is that 80% of the sales in India are down to credit.

http://www.bloomberg.com/apps/news?pid=20601101&sid=aAR_P6sweoCU&refer=japan

http://www.reuters.com/article/GCA-autos/idUSTRE51416320090205

2,000 bottles of champagne (Moët & Chandon or ’61 Bollinger preferred); 8,000 lobsters; 100kg of prawns; 4,000 portions of caviar; 8,000 boxes of Ferrero Rocher chocolates; 3,000 ducks; doesn’t sound too bad does it? Oh yes your host is Robert Mugabe.

http://www.timesonline.co.uk/tol/news/world/africa/article5697712.ece

How to take a bus: “Wait at an appointed bus “stop” – they’re everywhere, once you start noticing them – and when a bus comes into view, raise your right hand as if you were hailing a taxi. Get on at the front and tell the driver where you are going. He will name a price. Haggling is frowned upon, as is suggesting a route. Buses have no business class as such, but the top deck, if there is one, offers superior views. When things start to look familiar, push the STOP bell and de-bus from the rear doors.”

http://www.guardian.co.uk/lifeandstyle/2009/feb/09/bankers-guide-reality