These gas prices are out of season

U.S. drivers are now paying more to fill up their gas tanks than they ever have at this time of year.

The national average price of retail gasoline posted its biggest one-day increase in 23 months on Friday, rising four cents to $3.46 a gallon, according to AAA. The average price has risen 13 cents -- a 4 percent increase -- in the past week.

Gasoline prices have followed in part the climb in the stock and oil prices. Oil and equities have risen sharply over the last few weeks, as the Dow Jones Industrial Average reached 14,000 for the first time since 2007, Brent crude oil futures hit at 4-month high near $117 a barrel, while the U.S. oi lprice is near $98 a barrel.

(Read more: Energy Boom: Jim Cramer Names the Stock to Watch)

Retail gasoline prices have also hit a new milestone.

"This is the highest price record for February 1st," says OPIS analyst Tom Kloza, who predicts the national average price of regular gasoline will climb a few more pennies to $3.50 a gallon this weekend. (Read more below the video.)

Gasoline Prices $4/Gallon By Valentine's Day?Stocks, oil and gasoline prices rose to new milestones to close out the week. The Dow hit the 14,000 for the first time since 2007, Brent crude futures are at a 4-month high, and gas prices at the pump on average are at the highest price on record for ...

NYMEX March RBOB gasoline futures, which help determine prices at the pump, have risen 10 percent in the past two weeks, finishing the week at $3.05 a gallon on Friday.

"Refinery issues and speculation about refinery issues has with a lot of money betting onstill higher gasoline prices," Kloza says.

Oil producer Hess announced earlier this week that it is shutting its refinery in Port Reading, N.J., by the end of February. That refinery accounts for about 7.5 percent of oil production on the East Coast at about 70,000 barrels per day. Philadelphia Energy Solutions isalso set to begin planned maintenance at its 335,000 barrel per day Philadelphia refinery.

(Read more: US Seeks Greater Ethanol Use Despite Efforts to Cut It)

Traders and analysts forecast the closure and maintenance of refineries near the New York Harbor will further tighten gasoline supplies in the region. Planned maintenance in other parts of the country also add to concerns about gasoline supplies.

Meanwhile. gasoline demand is on the rise. While total U.S. gasoline supplies fell by 1 million barrels last week, gasoline demand increased by 70,000 barrels a day tothe highest level since the end of December.

Analysts say the U.S. Labor Department's upward revision to payroll data on Friday is further indication of steady economic growth and will lead to continued increases in gasoline demand. The number of non-farm jobs added in November was revised sharply higher from 161,000 to 247,000, while the figure for December was upgraded from 155,000 to 196,000.

(Read more: Brent Climbs Towards $116 on Middle East Tensions)

"Significant upward revisions for 2012 and last two months of the year in particular are showing up in the increase in gasoline demand," says John Kilduff, founder of Again Capital. "Improvement in employment is going to be supportive of gas prices."

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Source: http://finance.yahoo.com/news/gasoline-highest-price-ever-time-213515871.html

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Pentagon expands probe of troubled components on fighter jet-sources

WASHINGTON (Reuters) - The Pentagon is inspecting other components of the F-35 fighter jet in addition to the faulty fuel lines blamed for the grounding of the Marine Corps version of the warplane, two sources familiar with the program said on Friday.

Vice Admiral David Dunaway, head of Naval Air Systems Command, asked for the expanded "material audit" this week after being briefed on plans by the Pentagon's F-35 program to resume training and test flights of the F-35B, the sources said.

"There's too much at stake here," said one of the sources, who was not authorized to speak publicly.

The grounding of the F-35B has raised questions about the ability of the $396 billion Joint Strike Fighter program to keep up with an aggressive flight test schedule for this year.

Dunaway wanted to be certain that other components made by Stratoflex, a unit of Parker Hannifin Corp, for the Lockheed Martin Corp F-35 fighter jet did not have the same problems as the fuel lines.

"He wants to assess the company's quality assurance practices and make sure they are doing business the right way," said the source.

Dunaway's office was not immediately available to comment.

It was not immediately clear how long the additional inspections would take and when the B-model would be cleared to start flying again. Dunaway is responsible for approving flights of the F-35Bs used for training, while the Pentagon's F-35 program office is responsible for approving test flights.

"This is a prudent step which will help to ensure that when we're ready to return to flight we do so with confidence," said a second source, who was not authorized to speak publicly.

The Pentagon this week began shipping fuel lines made by Stratoflex for CT scanning by an independent company in Minnesota after it determined improper crimping had caused a fuel line to detach just before a training flight at a Florida Air Force base on January 18, resulting in a grounding of the entire fleet of 25 F-35 B-model planes.

The Pentagon on Monday blamed the problem on faulty manufacturing, not the component's design or maintenance, and said both engine maker Pratt & Whitney, a unit of United Technologies Corp, and its subcontractor, Britain's Rolls-Royce, were taking steps to beef up their quality control procedures.

Stratoflex is a subcontractor to Rolls Royce.

U.S. military officials had already decided to have all the affected fuel lines produced by Stratoflex inspected using CT scans since problems could not be easily detected otherwise, but Dunaway decided to have other components made by the company inspected as well.

No comment was immediately available from Parker Hannifin, the parent company of Stratoflex.

Earlier this week, a Parker Hannifan spokeswoman said the company makes many other components for the aircraft and was working around the clock to support the Pentagon investigation.

Lockheed is building three different models of the F-35 fighter jet for the U.S. military and eight countries that helped pay for its development: Britain, Canada, Italy, Turkey, Denmark, the Netherlands, Australia and Norway.

The Pentagon plans to buy 2,443 of the warplanes in coming decades, although many analysts believe U.S. budget constraints and deficits will eventually reduce that overall number.

(Reporting by Andrea Shalal-Esa; Editing by Lisa Shumaker)

Source: http://news.yahoo.com/pentagon-expands-probe-troubled-components-fighter-jet-sources-015630909--sector.html

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Hundreds turn out for inaugural Dubai Outsource Zone Cricket Cup ...

The eagerly anticipated event took place at the Insportz Club in Dubai on 25th January and saw 20 teams comprising companies located in DOZ participate for a chance to win the tournament trophy.

The event and was attended by more than 500 spectators who turned out in force to cheer on participants and colleagues from some of DOZ's premium business partners, including Habib Bank Zurich, du, Royal Bank of Scotland, Mashreq Bank, Back Office, Cupola, IDAMA, AXA Insurance, First Data, Pamcal, ADCB, Dunia Finance, Serco, Gulf Outsourcing, Interglobe, Jumeirah Group and TECOM Investments.

The DOZ Cricket Cup was awarded to the team from Mashreq Bank following a close final match with runners up, du.

Speaking after the event, Ammar Malik, Director of Operations, Dubai Outsource Zone said: "In addition to providing world class services to DOZ's business partners, we strive to encourage a healthy work life balance across our community. The success of the DOZ Cricket Cup not only highlights the popularity of cricket in Dubai, but more significantly the potential of business zones to bring together members of the community. The establishment of the tournament falls in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai to promote sports and competition across Dubai, a vision that DOZ fully supports."

"We are delighted that the tournament attracted so many teams from across DOZ and hope to make the Cricket Cup an annual event.All teams put in their best efforts at the event and at the end of the day, the best side won the cup - congratulations to Team Mashreq."

Farhad Irani, Head of Retail Banking Group at Mashreq commented: "I would like to congratulate Team Mashreq for their spectacular performance and wining spirit throughout the tournament. This is a reflection of what teamwork really stands for. We are grateful to DOZ management for organising this community bonding event. Our players demonstrated pure talent, playing each game as if it were the final. They are worthy of being declared Champions of DOZ Cricket Cup 2013 and of bringing the trophy home."

DOZ was established in June 2004. Companies set up in the zone can expect to experience an environment that attracts different elements of the value chain from banking and finance, insurance, IT, legal to airlines and hospitality. Companies currently operating in DOZ include Genpact, Interglobe, Serco, Back Office, AXA Insurance, Du, Mashreq Bank, Arab Bank, First Data, Cupola, Larsen & Toubro Infotech Ltd, Al Futtaim Willis and Jumeirah Group.

Source: http://www.ameinfo.com/hundreds-inaugural-dubai-outsource-zone-cricket-327883

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Canada's Flaherty reveals skin disease, explains bloating

OTTAWA (Reuters) - Canadian Finance Minister Jim Flaherty revealed on Thursday he is suffering from a serious skin disease and is taking steroids that make him appear bloated and red-faced, but that the problem is not preventing him from doing his job.

Flaherty's health has been a source of speculation in Ottawa for months because of his changed appearance.

The minister, 63, has had the rare condition, called bullous pemphigoid, for nearly a year, his office said in a statement.

"This treatment has in no way impacted Minister Flaherty's ability to do his job," Flaherty's chief spokesman, Dan Miles, said in the statement. "The minister says the condition is clearing up and he is hopeful his appearance will return to normal in the near future."

The condition causes blisters on the skin and usually affects people older than 60, according to the Mayo Clinic.

Flaherty's doctor has prescribed a steroid called prednisone, which has side effects such as bloating, weight gain, redness in the face and bouts of sleeplessness.

In an interview with the Globe and Mail newspaper, published on Thursday, Flaherty said he has fielded questions about videotaped interviews in Davos, Switzerland, on January 25 in which he had appeared to be slurring his speech.

He attributed his speech to the effects of the medication, which can cause dry mouth and mouth sores, and said he was exhausted from an overnight flight before his meetings in Davos.

Asked about his alcohol consumption, he said: "Since I've been on my medication, I drink less because I have to listen to what my doctor tells me when he says it's okay to have a glass of wine or two, or a beer or two, but that's it."

Flaherty told the newspaper he had informed Prime Minister Stephen Harper about his health problems late last year.

He said he intends to remain finance minister until the government's budget is balanced, a goal set for 2015.

(Reporting by Randall Palmer and Louise Egan; Editing by Philip Barbara and Peter Galloway)

Source: http://news.yahoo.com/canadas-flaherty-reveals-skin-disease-explains-bloating-124457166--business.html

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'ILLEGITIMATE' PANEL? GOP Senator's Bill Would Freeze Labor Board Rules

WASHINGTON ? ?Republican Sen. John Barrasso introduced legislation Wednesday that would freeze or overturn virtually every decision the National Labor Relations Board has made in the past year.

The move comes after a federal appeals court ruled that President Obama exceeded his constitutional authority by making appointments to the NLRB when the Senate was on a break last year.

?Until we have a final resolution from the courts, the NLRB should not be able to issue or enforce decisions that will create even more confusion and illegitimate regulations,? Barrasso, R-WY, said. ?My bill will restore clarity, order and respect for the U.S. Constitution.?

If the court ruling stands, the NRLB would have just one valid appointee left which would bring deciding any labor cases to a screeching halt. At least three members are needed for a quorum. Barrasso?s bill, though unlikely to clear the Democratically-controlled Senate, would aim to halt a range of decisions and regulations dealing with everything from how social media is used by union members to union dues.

Chief Judge David Sentelle said in his ruling that allowing the president?s power to remain unchecked would give the executive branch ?free rein to appoint his desired nominees at any time he pleases, whether that time be a weekend, lunch, or even when the Senate is in session and he is merely displeased with its inaction.? He added, ?This cannot be the law.?

The NLRB issued a statement following Friday?s ruling saying that it would continue to operate normally until the legal issues surrounding the recess appointments are resolved.

The White House is expected to appeal the verdict.

?

Source: http://www.foxnews.com/politics/2013/01/31/gop-senator-proposes-bill-that-would-freeze-nlrb-rules-decisions/

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Retirement investing requires optimism - Early-Retirement.org

Retirement investing requires optimism

Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free! Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE! You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Today, 08:45 AM	? #5
Give me a museum and I'll fill it. (Picasso) Give me a forum ... ? Join Date: Jan 2008 Location: Chicagoland Posts: 6,318	It's a surprisingly insightful article for it's brevity, thanks. I could write 10 times as much and say far less. It will be interesting to see if folks can just read it dispassionately instead of through their own "lenses." I also liked: The media's 24/7 barrage of bad tidings and other distractions (such as the fiscal cliff countdown clock that appeared on this website) serve to frighten rather than educate. The best way I have found to develop optimism is to study history. It will help you put today's headlines and countdown clocks into historical perspective. The last century has contained most of the history altering events that we are likely to experience in the future ? war and peace, a growing economy, a declining economy, bull and bear markets, inflation and deflation, high and low interest rates and countless other frightening events that now reside on the timeline of things long forgotten. By reading today's headlines instead of history, you're left with the impression that we live in unusual times but each decade is unusual in its own unique way. I am bored by those who assert that the dark future they envision in their fevered dreams is a certainty. Those bearded, white-robed seers holding "The End Is Near" signs have gone digital and the Internet gives them a global microphone. It requires no special insight to complain about the budget deficit, a dysfunctional Congress, the national debt, high unemployment, slow economic growth, etc. ad nauseam. __________________ It's a pity to waste your life living the same tiny day over and over again. James Taylor Retired Jun 2011 at age 57
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Today, 11:22 AM	? #7
Dryer sheet aficionado ? Join Date: Jun 2012 Posts: 46	Very nice article. I can't figure out how to cut a snippet out of the article and past it in here with my phone but there is a line in the article that says people need to educate themselves on how to invest for their future. To me this is key. Reading a few books on investing has given me a better understanding of how the market has worked over time and that gives me power over my fear. I think most people invest because they are told it is the best way to prepare for the future. They go to the company open enrollment meeting and get an outline of how and what to invest in pick a plan and go with. They don't really understand why or how it works and at the first sign of trouble they bail out. 401K plans are a great tool but like many other tools they are dangerous if you don't know how to use and maintain them properly. NMF __________________
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Today, 11:39 AM	? #9
Give me a museum and I'll fill it. (Picasso) Give me a forum ... ? Join Date: Jan 2008 Location: Chicagoland Posts: 6,318	But I believe that the news media, in general, just wants us to stay worried all the time because they think that will keep their audience captive. Originally Posted by youbet +1 Audrey, you're right on target! It's all about ratings to sell advertising of course, serving any other purpose is a distant second. Chicken-or-the-egg maybe but Is the media negative? Media studies show that bad news far outweighs good news by as much as seventeen negative news reports for every one good news report. Why? Humans seek out news of dramatic, negative events. Many studies have shown that we care more about the threat of bad things than we do about the prospect of good things. Our negative brain tripwires are far more sensitive than our positive triggers. We tend to get more fearful than happy. So from evolutionary and neuro-scientific and probability perspectives, we are hard-wired to look for the dramatic and negative, and when we find it, we share it. However, more encouraging (I hope)? Is there any good news in all this? According to positive psychologists we can change our habits, and we can focus on the glass being half-full. When we acquire new habits, our brains acquire "mirror neurons" and develop a positive perspective that can spread to other people like a virus. Giving us the bad news, so that our brains are hard-wired into a negative state, will just reinforce the current negative economic climate. http://www.psychologytoday.com/blog/wired-success/201012/why-we-love-bad-news just one of many articles online. __________________ It's a pity to waste your life living the same tiny day over and over again. James Taylor Retired Jun 2011 at age 57
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Today, 12:24 PM	? #11
Give me a museum and I'll fill it. (Picasso) Give me a forum ... ? Join Date: Jul 2008 Posts: 7,309	An important thing an investor must avoid is to extrapolate his particular situation to the world at large. Here's an example. In the 2000-2002 tech bust, our business was hurt badly. Looking around, I saw huge tech and communication companies like Nortel, Cisco imploding, let alone a little business like ours. Yet, I also saw that there were sectors shunned earlier by investors now doing well. Of course, people needed less silicon chips, but still ate potato chips. From the top of 2000 to the bottom in 2002, my portfolio shrank to 50% of its high. And this happened while we toiled for no pay trying to keep the business alive. My personal situation was pretty gloomy. I sold most of my tech holdings and reinvested in other sectors like material and energy. I got back to my 2000 high at around 2005 in late 2004, and even got the confidence and money to buy a 2nd home in 2005. So, I can relate to people in beaten down industries like auto and housing who would feel pretty bad, and cast a gloomy outlook over the whole world. Nope! Just because you are in a destitute personal situation does not mean the rest of the world isn't out partying. __________________
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Source: http://www.early-retirement.org/forums/f28/retirement-investing-requires-optimism-64868.html

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Republican Senator Says ?Video Games Is A Bigger Problem Than Guns?

This just in from the land of crazy: Republican Senator Lamar Alexander says that "video games is [sic] a bigger problem than guns." We've included the full quote and video below of his Interview with NBC's News' Chuck Todd, responding to a question about background checks for gun owners.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/BOxfg0sh_c0/

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