Posted By RichC on January 24, 2013
Posted By RichC on January 24, 2013
It may be 15 degrees outside, but that doesn’t keep my firebug wife from heading out to burn landscape grasses and who knows what else. She asked if I had a larger fire blanket (I gave her a small one for Christmas this year), and since I didn’t, she settled for a 5 gallon bucket of water and sopping wet painters tarp in order to protect the fence (the one she burned last year!) I suggested that we cut the grasses like everybody else, but it is obvious that she would rather burn them down. Where’s “global warm-ite” Al Gore when you need him?
Posted By RichC on January 23, 2013
Apple Inc. (AAPL) will report results for its first fiscal quarter this afternoon. 
Investors are on pins and needles wondering just how business has been going with slowing computer sales and increased pressure from Android devices on iPhone and iPad sales. Apple stock has already been beaten down and if the numbers are lackluster could take another hit. On the other hand, if sales and earning are good, $AAPL could rally. So far this afternoon, traders look to be gambling that the news will be good as the stock price has been rising on the day.
EDIT:
Apple Reports Record Results
47.8 Million iPhones Sold; 22.9 Million iPads Sold
CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its 13-week fiscal 2013 first quarter ended December 29, 2012. The Company posted record quarterly revenue of $54.5 billion and record quarterly net profit of $13.1 billion, or $13.81 per diluted share. These results compare to revenue of $46.3 billion and net profit of $13.1 billion, or $13.87 per diluted share, in the 14-week year-ago quarter. Gross margin was 38.6 percent compared to 44.7 percent in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue.
“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter”
Average weekly revenue was $4.2 billion in the quarter compared to $3.3 billion in the year-ago quarter.
The Company sold a record 47.8 million iPhones in the quarter, compared to 37 million in the year-ago quarter. Apple also sold a record 22.9 million iPads during the quarter, compared to 15.4 million in the year-ago quarter. The Company sold 4.1 million Macs, compared to 5.2 million in the year-ago quarter. Apple sold 12.7 million iPods in the quarter, compared to 15.4 million in the year-ago quarter.
Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on February 14, 2013, to shareholders of record as of the close of business on February 11, 2013.
“We’re thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter,” said Tim Cook, Apple’s CEO. “We’re very confident in our product pipeline as we continue to focus on innovation and making the best products in the world.”
“We’re pleased to have generated over $23 billion in cash flow from operations during the quarter,” said Peter Oppenheimer, Apple’s CFO. “We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.”
Apple is providing the following guidance for its fiscal 2013 second quarter:
• revenue between $41 billion and $43 billion
• gross margin between 37.5 percent and 38.5 percent
• operating expenses between $3.8 billion and $3.9 billion
• other income/(expense) of $350 million
• tax rate of 26%
Apple will provide live streaming of its Q1 2013 financial results conference call beginning at 2:00 p.m. PST on January 23, 2013 at www.apple.com/quicktime/qtv/earningsq113. This webcast will also be available for replay for approximately two weeks thereafter.
http://www.businesswire.com/news/home/20130123006477/en/Apple-Reports-Record-Results
Posted By RichC on January 23, 2013
Getting the testing done and appropriate governmental safety and FAA approvals takes time, but the Terrafugia experimental airplane/car is continuing to make progress. The company has over 100 orders and has had few setbacks considering their undertaking in their goal of producing the first commercially viable flying car. The video PR makes it all look “too” easy. Nice! (previous posts: 1, 2, 3, 4, 5)
Posted By RichC on January 23, 2013
Volkswagen is showing off a new DSG all wheel drive Diesel Hybrid this year at the 2013 auto shows and getting a fair amount of praise and criticism — it is hard to make everybody happy. Some chastise the hybrid concept and others the unglamorous styling. Others see it as the SUV that they’ve been waiting for, but are doubtful that the price will be affordable. Who knows if VW will build it with the listed specs … or whittle it down a bit to offer price point closer to "a people’s car" (doubt that’s even possible). Volkswagen suggests that this is a "serious" concept and says that “if it goes into production, the CrossBlue would flesh out the Volkswagen SUV lineup with a seven-seat midsize crossover that slots in above the Tiguan and below the premium Touareg.”
Here are a few specs to spark your interest:
Posted By RichC on January 22, 2013
Pulitzer-Prize winning historian and biographer Jon Meacham made a few comments that had me nodding my head Monday evening in a discussion with Bill O’Reilly. I snagged a bit of audio while replaying for my wife.
He was able to succinctly communicate the fiscal issues facing our nation and the seeming lack of urgency President Obama is demonstrating. We all know that jobs and expanding the private sector is the key to dealing with our rapidly growing debt, but the Obama administrations lack of a growth agenda is very concerning.
| FoxNews (mp3) Bill O’Reilly talks with Jon Meacam – 1/21/2013 |
Posted By RichC on January 21, 2013
Our nation has come a long way in race relations in my lifetime in large part due to Martin Luther King Jr., a 1960’s era civil rights leader 
that we remember and celebrate with a national holiday today. Considering the United States has come “a long way” since slavery and segregation, we … and the media … still ends up differentiation each other by traits other than “our character.”
I’m acrimonious when reading comments regarding business or political issues made based on race, religion or gender (“the first black president”, “the cabinet doesn’t have enough diversity,” “can’t vote for a Mormon,” etc), and wondering when we as a nation will get beyond these insignificant differences? At what point can we comfortably treat each other as equal and differentiate based on qualifications, political philosophy and character?
Maybe we can be more like the NFL? On the playing field this past weekend, Altlanta, San Francisco, Baltimore and New England brought their best (and only two can move on to the Superbowl – Baltimore and San Francisco) … little was made of either teams diversity, religion or race. There were no complaints that teams were all male, or that Hispanics weren’t equally represented. The color of skin had little to do with how players, coaches or owners ran the business or played the game – success and achievement lead to decision making.
I’d like to think the same “blindness” could go into politics on this Presidential Inauguration Day — but think it is already too late as it should have been on election day. Success and achievement should be paramount, whether electing a president or congressional representative, or a president filling advisory positions in a cabinet. BUT aided by the continued push for political correctness … too many Americans focus on traits that have little bearing on a persons ability to lead. In the case of our current president, his lack of leadership is harming our country. Certainly he was not as qualified a Hillary Clinton four years and even after four years did 
not gain the qualities needed to repair America – much based on his own poor leadership. It was obvious to most that he was elevated based not on his qualification and experience or even “quality of his character” … but his ability to divide and conquer. I’d suggest, at the risk of being called a racist, that Obama most likely received some votes because of his race – 93%??? (CNN November 2012 vote breakdown to the right) … and yes it happened and does still happen in the reverse no doubt … just not as obvious. I find I hard to believe that any American, if they were choosing based on leadership and character, could conclude that the United States is better having President Obama in the Whitehouse for four more years rather than a Mitt Romney? Sure I’m confident American will muddle through (thanks to the way our founders set up the branches of our government), but the lack of a leader in Washington DC bringing the country together is most likely going to add another four years of slow growth and a stagnate economy … and who knows how much more debt and long term damage we’ll suffer?
Posted By RichC on January 20, 2013
Selling a long term project like building an airplane leaves me with mixed feelings. In part, I’m glad to be lessening my hobby load of “things to do,” but sad to part with a project that has consumed so much of my time and been a focus this past decade. As family we took trips to Airventure in Oshkosh, Wisconsin and separately with Taylor when deciding to add building an airplane to my aviation interests. I spent hours in the workshop with both kids and by myself; they helped with the drilling, deburring and riveting of the 6000+ holes required on the Sonex project. Besides just being with them, I also enjoyed teaching them to use tools that were familiar to me, as well as those which were new. I’ve always loved working with my hands and had hoped to share what know with my children.
I also am disappointed to have had started another long term hobby which was derailed by other interests and time constraints. I would use the excuse that it was monetarily and the cost was too much, but that would not be completely true since my wife was 100% supportive of my interests (her only concern was that I would eventually fly this project making my life insurance void???) In fact she never minds doing volunteer work with my EAA chapter or functions that revolved around aviation.
As for the buyer, he is from China and has a variety of helicopters and airplanes – from experimental to vintage military planes. The project is being crated and shipped overseas to be completed and flown in that rapidly changing country. I met him through a helicopter aviation friend, Homer Bell this summer who works with the Chinese company owned by the buyer with the shipping American parts to China. I will be interested to hear about the test flights later this year or next?
The only negative now is that “I thought” that I’d be able to take my new found wealth and use it to complete my New Year’s Resolution (a diesel car like a VW TDI)… but the check was quickly swiped by my boss to be used for something more important … my daughter’s wedding! (Links 1, 2 & 3) 
Posted By RichC on January 18, 2013
Although retail unleaded gasoline is down 25 cent per gallon since last year at this time in SW Ohio, we remain just above $3.00/gallon in most areas. 
(I paid $3.09 and $3.07 this week while traveling in north east Ohio)
Since I’m thinking about a new diesel car this year, it is be frustrating to have to consider paying 80 cents or more per gallon for diesel (about $3.90/gallon). Even calculating the 30-35%efficiency of diesel engine, it isn’t easy to justify paying more upfront for a diesel vehicle and still paying 30% more for fuel. For those of us wanting to see diesel vehicles make “real” inroads in America, it will continue to be an uphill battle.
Posted By RichC on January 17, 2013
We’ve all been there. Weighing the choice to put in sweat equity to save money or spend money to save time. This year is no exception and sided with spending money to save time.
Life has been busy and priorities like spending time with my mom in her final months, and my dad in recent weeks, has taken up the time that I intended to use to work on Encore while she was out of the water. I fully intended to at least paint the bottom after the peel and epoxy barrier, but finding spare days and weeks was not possible. Instead, I’ve opted to job out the final steps in order to get Encore’s bottom finished up and ready to go back in the water. Oh, there is still plenty to do topsides and below decks, but at least we’ll be floating rather than in a dirty boatyard. As my late-brother-in-law would have said, she is looking marvelous. I’m impress with the shine; the guys were able to buff and wax Encore’s aging fiberglass back to life. (more photos below – click for larger)
Thanks for the photos Joe (1/15/2013)