Large banks introduce clearXchange mobile payments service

Three of the largest banks in the United States are competing with the company PayPal, states the Associated Press. A new mobile payments program called clearXchange now makes it easier than ever for consumers to make person-to-person payments via a mobile number or email address. The banks imagine clearXchange replacing old-fashioned bank money transfers completely.
Fees from both PayPal and prepaid debit cost more
Bank of America, Chase bank and Wells Fargo are suggesting the Charlotte, N.C. clearXchange has fewer fees than prepaid debit cards and eBay’s PayPal, even though banks bring on the fees. Soon, the mobile payment service will be accessible for several people. For now, the person-to-person clearXchange will only go to the three banks’ customers.
JPMorgan’s Director of Mobile, eCommerce and Payments Jack Stephenson told the Associated Press that clearXchange could not be simpler.

“Customers will be able to send and receive money even more quickly and easily,” he said, “with full confidence their funds are in a bank account without worrying about cash, checks or higher-cost services.”

PayPal is fairly big
In the first quarter of 2011, PayPal processed $27.4 billion in payments with its 100 million active users that currently using it, reports eBay, which is a 28 percent increase from last year. The revenue at PayPal hit $992.3 million. Now, eBay is sure that PayPal will annually make more money than its parent company.
There’s ‘An innovative game-changer’
Business Wire spoke with Wells Fargo Executive V.P. Mike Kennedy who said the simplicity of clearXchange will change how mobile payments work.

“This is an innovative game-changer in electronic payments,” he said. “We want our customers to be able to easily send money to anyone without having to establish a new account outside their primary bank. All our customers need to know is the email address or mobile number of a friend or family member and (clearXchange) takes care of the rest.”

Articles cited
Reuters
reuters.com/article/2011/05/25/idUS131437+25-May-2011+BW20110525
USA Today
usatoday.com/money/industries/banking/2011-05-25-banks-cash-transfer-cell-email_n.htm
ROAM Data, Inc.’s Rob Stringer on end-to-end encryption

Tim Pawlenty states no to ethanol subsidies

GOP presidential preferred Tim Pawlenty came out in a big way against ethanol, reports The Daily Caller. The previous Minnesota governor did not mince words, calling ethanol subsidies an idea whose time has come and gone. Intellectual Takeout points out that ethanol fuel supporters cling to the renewable fuel argument, but enough criticisms of ethanol exist to justify exploration of whether there needs to be government subsidies for it in the first place.
The United States needs the corn it grows
It is very important for U.S. farmers to grow corn. It has been this way for a long time. Even traditional bluegrass nuggets like “The Boy Who Wouldn’t Hoe Corn” equate the ability to grow corn with male virility:

“Why do you come for me to wed?
Can’t even make your own corn grain.
Single I am and will remain;
A lazy man I won’t maintain.”

Buying a culture
The U.S. has become more interested in renewable fuel sources for instance ethanol due to the automotive industry’s interest in fuel efficiency. Many different political lobbies support ethanol fuel production. This includes the National Corn Growers Association.
Tim Pawlenty is just one of many that do not support the subsidy. He does not think it is worth it. Option fuels to gasoline have been created with grains. This has brought on shortages meaning corn prices have increased. Cheap grain is more valuable as food than fuel, argues Pawlenty. He thinks he can help the U.S. just like he helped Minnesota reduce ethanol subsidies while managing its fiscal challenges.

“I’m here today to tell Iowans the truth about federal energy subsidies,” said Pawlenty during his presidential candidacy announcement. “(That includes) federal subsidies for ethanol… (They must) be phased out gradually. We need to do it fairly. But we need to do it.”

How fuel efficiency will change with ethanol
When comparing ethanol to traditional gasoline, it has 34 percent less energy potential per unit of volume, several scientists explain. As much as 50 percent fuel can be used in an ethanol only engine than that of a standard gasoline engine.
The failure to set up a solid connection between ethanol fuel and greater miles per gallon brings ethanol’s viability into question. An increased national MPG standard is expected by people such as Keith Crain. With this taking place, it may not be possible for ethanol fuel to really be used.
Information from
Auto News
autonews.com/apps/pbcs.dll/article?AID=/20110523/OEM01/305239986/1137
The Daily Caller
dailycaller.com/2011/05/23/pawlenty-announces-2012-run-under-banner-of-truth-tells-iowans-that-ethanol-subsidies-must-be-phased-out/
Wikipedia
en.wikipedia.org/wiki/Ethanol_fuel
Intellectual Takeout
intellectualtakeout.org/library/agriculture/ethanol-renewable-energy
National Corn Growers Association
ncga.com/
Tim Pawlenty
timpawlenty.com/
Tim Pawlenty, et al, on ethanol subsidies

U.S. Marshals to auction Unabomber things

The U.S. Marshals Service has decided to auction off a few of the personal effects of Theodore John “Ted” Kaczynski. Kaczynski is better known as ‘the Unabomber’. The online auction is underway and will continue until June 2. Proceeds of the auction will go to the targets of Kaczynski’s mail bombing spree; a spree which lasted nearly 20 years.
What will auction
On April 3, 1996, Kaczynski was captured in Montana in a cabin loaded with stuff. This stuff, about 60 lots of items, will be sold in the auction that is occurring. The hooded sweatshirt and dark glasses he is known for could be found in these items. His driver’s licenses, deeds, checks, transcripts, letters and birth certificate will all be sold. All of his personal documents found will sell. Many photos were found and will sell. Kaczynski’s clothing, books, bows, tools and watches will also all be sold. Additional on the block is the typewriter he used to write his Industrial Society and Its Future, also called the Unabomber Manifesto. There will even be 20,000 pages of the document sold, including hand-written and typed versions.
You can see the catalog, photos and information of all the items being sold. Just go to the GSA auction site to find them.
A domestic terrorist
Kaczynski was a mathematical prodigy after bring born in 1942 in Chicago, Ill. When he was 16, he got his undergraduate degree at Harvard. He got a PhD later from the University of Michigan. This was in mathematics. Kaczynski became increasingly frustrated with a society he saw as becoming rapidly technological. Kaczynski moved into a cabin in 1971. This one room cabin in Montana was supposed to help him become a self-sufficient male. He got the name Unabomber, due to University and Airline bomber put together, due to his 16 homemade mail bombs he sent to several airlines, universities and other targets between 1978 and 1995. Because of his bombs, three individuals died. Another 23 were injured. The subject of a nationwide FBI manhunt, Kaczynski was eventually turned in by his brother and his sister-in-law and captured in 1996. Kaczynski is now serving in the “supermax” prison for life without the chance of parole at age 69. This prison could be found ! in Florence, Colorado.
Technology used against him
In a statement to the press, “We will use the technology that Kaczynski railed against in his various manifestos to sell artifacts of his life,” was what U.S. Marshal Albert Najera said.
What people will pay
Nobody knows how much value is really in these items. “This is an unusual type of case,” Marshals spokeswoman Lynzey Donohue said today. “It’s really difficult to put a value on these items because of the intrinsic value they have based on his notoriety.”
Information from
NY Daily News
nydailynews.com/news/national/2011/05/18/2011-05-18_unabomber_ted_kaczynskis_belongings_hit_auction_block_sweatshirt_glasses_typewri.html
CNN
articles.cnn.com/2011-05-12/justice/us.unabomber.auction_1_auction-plan-unabomber-ted-kaczynski-auction-website?_s=PM:CRIME
The Sacramento Bee
sacbee.com/2011/05/13/3623703/unabomber-kaczynskis-personal.html
GSA Auctions
gsaauctions.gov/gsaauctions/gsaauctions/

Consumer Financial Protection Bureau simplifies mortgages forms

The CFPB, in a bid for greater transparency in the mortgage industry, plans to require a simpler, less confusing mortgage buying sheet. The bureau is being led by Obama administration adviser Elizabeth Warren. Two prototype version of the new mortgage disclosure form were released to the public Wednesday on the bureau’s site. Consumer and industry groups have both had mixed reactions to the new forms.
Consumers mixed up about existing forms
The CFPB claims that hidden charges and unreasonable terms are often concealed within the confusing language of the forms currently being used by lenders. Right now both the federal Truth in Lending Act (TILA) mortgage disclosure and the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate are required. Rather than getting five pages, consumers will only get one now, front and back. This is because the two have been combined. It is being done by the CFPB. It is the “know before you owe” project being done.
Two different prototypes offered
Both versions of the new form contain the same information, but it is presented in different ways. Both forms have taxes and closing costs on them. The monthly loan payment and interest rate is also on it. Monthly payments, and just how the loan will change the payments, can be seen. Penalties and other charges that might be added on will even be put on the form.
Confusion can be costly
Warren commented on Wed. “Getting stuck with the wrong home loan can cost tens of thousands of dollars over the life of the loan,” he said. “(This) is a clear, simple form so consumers can get better answers to two basic questions: Can I afford this mortgage, and can I get a better deal somewhere else?”
The reactions that came
The reactions have not all been the same. They have been mixed. Industry groups say the changes may limit innovation and variety in lending, while consumer groups are concerned that the changes may limit the ability to stop a foreclosure with court action.
Every little thing is currently the same
The new forms won’t soon be accessible by any bank, however. Part of the Dodd-Frank Act was the Consumer Financial Protection Bureau. It will get started on July 21. Before a form is introduced in September, the CFPB will test the forms in six cities in five rounds. The bureau will then have until July 2012 to propose rules associated with the form’s implementation.
Information from
CNN
money.cnn.com/2011/05/18/pf/mortgage_disclosure_form/index.htm?iid=HP_LN
Bloomberg
bloomberg.com/news/2011-05-18/banks-say-simpler-mortgage-form-could-stifle-new-products.html
LA Times
articles.latimes.com/2010/feb/28/business/la-fi-harney28-2010feb28

Biggest Australian brothel opening soon in Sydney

The largest brothel in Australia will quickly be opening in Sydney, earning the city the interesting distinction of being home to it. A remodel will mean in a three-story, 40-room resort that aims to be the premiere establishment of its kind in the Land Down Under. This brothel is located in a residential district, and the neighbors aren’t terribly happy about its presence.
Change in rooms with reconstruction
The number of suites available at the resort in Sydney, Australia will double with the $12.7 million renovation. An extra floor of very luxurious suites will be added also. This building differs from other hotels that have been renovated, MSNBC states. It will become the biggest brothel in Australia after the renovation, more than likely. Stilleto is the name of the brothel which will consist of a 3rd floor of suites, seven of them, with King beds, pool tables, a spa and two bedrooms. Instead of having 20 suites, Stilleto will have 40 available.
Not a huge fan with the community
Apparently “lawyers, movie stars, accountants and professional athletes,” are all welcome at Stilleto. MSNBC reports this is the crowd that will be drawn in. A three story brothel in the neighborhood makes some neighbors upset. The Sydney Morning Herald reports that the residents near Stilleto aren’t happy about the idea. They do not want people coming and going all night long. Some do like the idea that there will be security guards on the building grounds. Really, this ought to make the neighborhood a bit safer.
Feelings towards prostitution
Wikipedia states that many countries in the world have a different opinion than the United States when it comes to prostitution, as in the United States only eight counties in Nevada have it legalized. Brothers are illegal while it is not regulated in most countries. The trade is allowed however brothels aren’t in Italy, for instance. Everyone involved must be at least 18 though. Whether or not Ruby the Heartstealer got paid before she was eighteen by Italian Prime Minister Berlusconi has not yet been decided. The Christian Science Monitor reports he is in legal battle with it right now. Prostitution is illegal in most of the world, however, and the nations in which it is legal and regulated are a small minority.
Information from
MSNBC
msnbc.msn.com/id/43063695/ns/travel-destination_travel/
Sidney Morning Herald
smh.com.au/nsw/three-storeys-of-sex-as-sydney-braces-for-biggestbrothel-title-20110516-1epzn.html
Christian Science Monitor
csmonitor.com/World/Europe/2011/0406/Plenty-of-flash-at-lightning-brief-start-of-Berlusconi-trial
Wikipedia
en.wikipedia.org/wiki/Prostitution_by_country

Kutcher takes over for Charlie Sheen on show

Ashton Kutcher has come from out of nowhere to win the race to replace Charlie Sheen in "Two and a Half Men." Sources indicate the previous "That 70s Show" and "Punk’d" star has signed a contract that will pay him between $625,000 and $900,000 per episode, just over half of what Charlie Sheen reportedly earned. Season nine of "Two and a Half Men" will return in rebooted form as soon as the middle of the current TV season.
Done with the Harper unique character
Alan and Jake will still be played by Jon Cryer and Angus T. Jones. Some suggested that Kutcher might replace Charlie Sheen as Harper in "Two and a Half Men." This isn’t true; all that is known is that he will be living in the Malibu beach house with characters Cryer and Jones.
Late-comer Kutcher may have a lot of work
Numerous actors and at least one actress have been rumored to replace Charlie Sheen on “Two and a Half Men,” including Rob Lowe (a friend of Charlie Sheen, whom he recommended), John Stamos, Matt Dillon, Jenny McCarthy and Hugh Grant. According to the Huffington Post, as of May 11 Grant almost got the part. Due to "creative differences," the deal was broken at the last minute.
Ashton Kutcher used comments such as "What’s the square root of 6.25? Two and a half," on Twitter to his 6.7 million supporters after CBS and "Two and a Half Men" creator Chuck Lorre decided on the deal with Kutcher. "Two and a Half Men" will thrive, Lorre hopes, with Kutcher on the show. His twitter fan base could be able to help with that.
Charlie Sheen involvement
Kutcher's job is not something Charlie Sheen has talked about. In addition to completing his "Violent Torpedo of Truth" tour and possibly continuing his "Sheen’s Korner" video podcast, Sheen might be up for a role on "Entourage," notes the Hollywood Reporter. He said that he wants to say sorry to Chuck Lorre for his rants in hopes of being back on the "Two and a Half Men" show.
Information from
Hollywood Report
hollywoodreporter.com/news/sources-confirm-ashton-kutcher-will-188048
Huffington Post
huffingtonpost.com/2011/05/12/ashton-kutcher-joins-two-and-a-half-men_n_861389.html
TMZ
//bit.ly/kFGmDp

Suggestions to keep away from rental automobile gasoline penalties and other fees

The average price of gasoline in the U.S. is almost $4 per gallon. However did you know it will cost more than double per gallon needed if you do not return the rental with a full tank? This and other “hidden” fees can cost you a fantastic deal of money. Go to the rental car counter armed with knowledge and save.
Rental car gasoline at $9.29 per gallon
Dollar and Thrifty is charging $8.99 a gallon to top of the gas tank while Hertz is charging $9.29 a gallon on average according to a USA Today survey of 13 large U.S. airports with rental vehicle businesses. If a customer pays the rental company ahead of time, the price goes down a lot, however this is one way consumers’ get money stolen by rental companies all the time.
Thinking about the other fees to avoid
1. Additional driver fees – Most rental companies charge an additional $10 per driver.
2. Insurance – If you already have driver’s insurance, especially comprehensive, don’t purchase extra insurance. You may even want to check with the credit card company. It might insure against losses.
3. Early/late return fees – It pays to be on time when returning your rental car, as it can cost $10 or more for each day late. Early returns usually require a $15 fee too.
4. Child car seats – Make sure you bring your own vehicle seats into your rental. Otherwise, you’ll pay about $7 per day for each child safety seat rented through the business.
5. Toll bypass – Some rental companies will sell you an electronic toll road pass. If you already have one of these for your daily commute or are not worried about this choice, just say no.
6. Mileage – Be careful of the miles you put on. If you know you’re going to be driving long distances, opt for an unlimited mileage rental or be prepared to pay an exorbitant amount per mile over the limit.
7. Cleaning – Don’t smoke in the car and clean up your mess. Cleaning fees are always expensive. Sometimes it can cost too much.
Ways to get a cheap car for a while
There are easy ways to discover deals on rental automobiles. Just go to Priceline.com, Hotwire.com, Travelocity.com and Expedia.com. Plan ahead and you also may even be able to discover a good rate that comes as part of a package deal with airline tickets and hotel. You may be able to conserve even more with entertainment coupon books and online websites like RetailMeNot.com. Make sure you rent for what you need. Don’t go any longer. As long as you don’t have too much stuff, you might be okay with an economy compact which will get you there safely.
Citations
Bankrate.com
bankrate.com/financing/cars/rental-car-gas-costs-9-a-gallon/
MSNBC
today.msnbc.msn.com/id/23471992/ns/today-money/t/secrets-renting-car-without-overspending/
Dollar Rent-A-Car was caught red-handed
youtube.com/watch?v=ZY4A-EJAbZs