Facebook set the price range for its initial public offering at $28 to $35 a share, targeting a valuation as rich as $96 billion in what would be a record debut for an American company.
From Gizmodo: The Largest Pharmaceutical Drug Heist in History Was Ruined By a Water Bottle
Amaury Villa and Amed Villa, two brothers from Cuba, have been arrested for stealing $80 million worth of pharmaceutical drugs in Connecticut in a sophisticated scheme that evokes The Italian Job and Ocean’s 11. It’s the largest pharmaceutical drug heist in history, and it was all brought down because one of the brothers left a water bottle at the scene. More »
from Gizmodo
From Wired Top Stories: Hydrogen Powered Hyundai Crosses Europe Using Existing Fuel Stations
A team of European drivers have crossed the continent in a pair of hydrogen-powered cars using only Europe’s existing hydrogen fueling infrastructure.
The Oslo to Monte Carlo trip hit the record books as the longest a hydrogen-fueled vehicle has ever travelled using only fuel from permanent hydrogen filling stations. Other cars have circumnavigated the globe and …
from Wired Top Stories
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From Autoblog: Study: Average cost of car ownership rises to $8,946 per year
Filed under: Car Buying, Earnings/Financials
We Americans sure do love the freedom of owning our own automobile, but the price of that freedom is climbing. AAA has released its 62nd annual “Your Driving Costs” study, which shows a 1.9-percent year-over-year increase in the cost of auto ownership. That’s an average of $8,946 per year per car, with costs including monthly payment, fuel, maintenance and insurance.
Given the sharp rise in the cost of a gallon of petrol, it’s no surprise that prices at the pump are up 14.8 percent, or an average of 14.2 cents per mile. Tire prices are up 4.2 percent, in part because material prices have skyrocketed. The average insurance policy jumped by $33 versus 2010 numbers, with an average rate of $1,001 per year.
Interestingly, used cars are worth more than they were a year ago, with a depreciation drop of 4.9 percent, which means a new car purchase may hold its value a little better than before.
If $8,946 is too rich for your blood, AAA shows that the best bet could be a smaller sedan. Compact models average $6,735 per vehicle, while 4WD SUVs top the charts at $11,360. Large sedans are close to the SUV numbers, with an average of $11,324. AAA based its findings on a driving cycle of 15,000 miles per year. Scroll down belowto read the AAA press release.
from Autoblog