Why Americans are loading up on cars

The rest of the economy may be stuck in the slow lane, but the auto industry is on a tear.

Auto sales in November continued to strengthen, hitting an annualized rate of 17.1 million vehicles, according to Reuters, which is comparable to the boom year of 2006.

Even better news for the automakers: the average buyer paid about $33,750 for a vehicle in November, the highest average transaction price on record, according to car-research site KBB.com. The biggest beneficiaries are General Motors (GM) and Chrysler (FCAU) which are selling pickup trucks and SUVs as if gas were once again below $3 per gallon. (Wait. It is!)

The strength in auto sales is surprising given that a lackluster recovery following the 2007-2009 recession has left the typical family with less wealth and disposable income, at the same time the soaring cost of healthcare and other essentials demands more of the family budget. Still, the American love affair with cars seems to persist, despite many premature reports of its demise. Here are three reasons cars sales have been so strong:

Auto loans are the only kind of credit many people can get. The total amount of auto loans outstanding has hit new highs in 2014, according to the Federal Reserve Bank of New York. The only other credit category thats been growing like that is student loans, and many of those are subsidized by the government. Other types of credit, including credit cards, mortgages and home-equity loans, are still well below pre-recession levels, with some people unable to qualify for loans and others simply cutting back on debt.

Grand Cherokee finally has a diesel - maybe too much diesel.

Subprime loansthose granted to the riskiest borrowersaccount for about 20.4% of all auto loans, according to credit-monitoring firm Experian. Thats a fairly high level that has prompted some concern about an auto-lending bubble that could end in a spasm of defaults and repossessions. But auto-loan default rates have fallen steadily since 2010, as buyers prioritize car payments above other obligations. Lenders may be aided by new technology that allows lenders to electronically disable a vehicle from afar if the buyer has falleb behind on payments. And there are no signs yet of a subprime bubble about to burst.

Meanwhile, the average term of a loan has crept up to five-and-a-half years, according to Experianthe longest everwhile interest rates, averaging about 4.5%, remain extremely low. A combination of relatively easy credit, lengthier loan terms and very low rates has helped new-car buyers borrow an average of $28,000 while keeping the monthly payment at about $470. Thats just about the best deal car buyers have had in decades. With many people locked out of mortgages and resigned to renting, a shiny new SUV may be the new starter home.

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Gas is cheap. Car buyers have short memories, and when gas prices fall, theres almost always a correlating surge in sales of larger, less thrifty vehicles. Thats been happening for the last five months, with pump prices free-falling from a national average of nearly $3.70 in June to about $2.75 now, and hefty rides such as the GMC Yukon, Ford Explorer and Ram pickup notching impressive sales gains. Larger SUVs and pickups have much bigger profit margins than economy cars or sedans, which makes the latest drop in oil prices an unexpected boon for automakers.

This undated photo provided by General Motors shows the 2015 GMC Yukon Denali. General Motors, which sells more

Cars are old. Despite all the new vehicles purchased, the average car on the road is more than 11 years old, according to IHS Automotive. Cars last much longer than they used to, but still need to be replaced so riders have a reliable way to get to work and bring the kids to soccer practice. With the average age of a car still rising over time, analysts expect sales to remain strong in 2015 and beyond as buyers upgrade.

Theres always something that could throw the auto industry into reverse. Interest rates could shoot up, the subprime market could collapse or gas prices could skyrocket all over again. But it seems more likely that automakers will sustain cruising speed as the economic recovery improves. Our love affair with cars has a few more miles to go.

Rick Newmans latest book is Rebounders: How Winners Pivot From Setback To Success. Follow him on Twitter: @rickjnewman.

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Source: http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNGMOK6lea4CZgtCVjPM62Krb7IaUA&clid=c3a7d30bb8a4878e06b80cf16b898331&cid=52778673090810&ei=uXl_VJGJF6al8QGcp4CIAg&url=https://finance.yahoo.com/news/why-americans-are-loading-up-on-cars-175803069.html

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Here Are The Factors Underlying Our $163 Price Estimate For LinkedIn's Stock

LinkedIn reported impressive results in the third quarter, with revenue rising by 45% and adjusted EBITDA margin expanding by 300 basis points annually. Its stock price has risen by around 15% since these results were reported. In this article, we assess the key factors underlying our $163 price estimate for LinkedIns stock, which represents around 30% discount to the current market price.

In our valuation model, we expect the companys revenue to surge from around $2.2 billion in 2014 to over $7.0 billion by the end of our forecast period, driven by broad-based growth across all the business segments. The companys strategies to redesign member profiles, grow the mobile ecosystem and publisher network, expand jobs listings, and foray into newer geographies and user demographics, will spur engagement and monetization on the platform. In addition, we estimate LinkedIns adjusted EBITDA margins will rise from 26% in 2014 to 49% in the long-run, as revenue growth should outpace increase in operating expenses. We also forecast a rapid decline in capital expenditure as a percentage of gross profit over the coming years.

We believe LinkedIns revenue will have to grow to over $9 billion and the adjusted EBITDA margin will have to expand to over 55% by 2021 to justify the current market price. Hence, we advise investors to think twice before getting into the stock at these levels. Any failure to meet (or surpass) expectations in the coming earnings releases could send the stock stumbling.

See our complete analysis for LinkedIn

Revenue Is Estimated To Rise By A CAGR Of 20% Over 2014-2021

Year 2014 2015 2016 2017 2018 2019 2020 2021 Revenue (forecast in $ millions) 2,208 2,862 3,520 4,187 4,894 5,625 6,392 7,110

Though we project LinkedIns revenue to surge by 44% and 30% in 2014 and 2015 respectively, we expect the growth rate to slow down over the latter years due to higher base and tougher y-o-y comparisons. We expect broad-based growth across all the business segments, namely Talent Solutions, Marketing Solutions and Premium Subscriptions. New customer additions and price hikes, along with a ramp up in the sales workforce, will contribute to growth in the Talent Solutions segment. And the other segments will benefit from factors such as high demand for sponsored updates, contributions from recently acquired businesses, and the addition of new features on the platform.

LinkedIn is undertaking several strategic steps to enhance its demand such as: raising the number of job listings on its platform drastically, developing a multi-app portfolio, building a publishing platform, and expanding across demographic groups and geographies. LinkedIn started aggregating job listings this year from other sites, taking the number of job listings on its platform from 1 million at the end of Q2 to over 2 million currently.It also rolled out multiple mobile applications including connected and Job Search during the year to increase the share of traffic from mobile devices. In addition, it also launched a publishing network and the weekly long-form posts surpassed 40,000 recently. We expect these initiatives to boost member additions and engagement levels, enhancing LinkedIns appeal among both recruiters and marketers.

Expansion in geographies (such as China) and in different demographic groups (such as students) will catapult LinkedIn to the next level of growth. We think delivering the right product for this huge audience group could result in large-scale member additions. While we forecast revenue to surpass $7 billion by 2021, in case it grows much faster to $9 billion, then it would lead to a 25% increase in our valuation for the companys stock.

Profitability Is Expected To Improve

Year 2014 2015 2016 2017 2018 2019 2020 2021 Adjusted EBITDA margin (forecast) 26% 30% 33% 36% 39% 43% 46% 49%

We forecast LinkedIns profitability to rise consistently by 300-400 basis points annually during our forecast period. We expect this improvement to be driven by decrease in R&D and SG&A expenses as a percentage of gross profit, as the growth in latter should outpace increase in operating expenses in the future. The operating expenses could grow at a slower pace over the coming years, as the business becomes relatively more mature. We believe LinkedIn will have to expend lesser resources on expansion, data centers, and product development in the coming years. In the event, adjusted EBITDA margin improves more dramatically to over 60% by the end of our forecast period, it would represent more than 20% increase in our price estimate to $200.

Capital Expenditure As A % Of Gross Profit Will Come Down

Year

2014 2015 2016 2017 2018 2019 2020 2021 Capex as % of Gross Profit 21% 19% 17% 15% 14% 13% 12%

11%

We believe capital expenditure will grow in absolute terms over our forecast period, as LinkedIn will have to invest in technology upgrades to keep pace with the growth in user data. However, as the company slows down its expansion phase in the coming years, capex requirement as a percentage of gross profits is expected to diminish during our forecast period.

Our readers can tweak the estimates in our valuation model to see the impact on LinkedIns valuation.

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Source: http://www.forbes.com/sites/greatspeculations/2014/12/02/here-are-the-factors-underlying-our-163-price-estimate-for-linkedins-stock/

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Madonna t*****s: 16 other celebrities who have unleashed their b*****s and ...

WARNING: NSFW

(Picture: Interview)

This year seems to have been the year of the nipple.

First Rihanna made her nipples her number one accessory at the CFDA Fashion Awards in New York in November, then Kim Kardashian released a full frontal shot of herself in Paper Magazine.

Now Madonna never one to be outdone has unleashed her b*****s on the world in all their bright purple glory.

But who else has dared to bare their nipples in the past?

NOTE: Some celebrities such as Denise Richards, Geri Halliwell and other Madonna magazine photographs could not feature in this list as theywere just too rude.

1)Keira Knightly, Interview Magazine 2014

The Pirates of the Caribbean actress posed t*****s for Interview Magazine in September this year in protest at having her body manipulated by photoshop.

2)Lindsey Lohan, Playboy Magazine 2011

Lindsey Lohan posed as Marilyn Monroe in 2011 wearing only a silk dressing gown she was criticised at the time for having many of her freckles airbrushed out.

3) Miley Cyrus, German Vogue Magazine 2014

Its almost a surprise these days to see Miley Cyrus with clothes on. The singer stripped off for German Vogue in February this year in another Marilyn Monroe-style shoot.

4) Sharon Stone, Paris Match 2009

(Picture: Paris match)

After hitting her 50th birthday, Sharon Stone graced the cover of Paris Match Magazine in full bondage gear with her nipples on show. Move on over Madge

5) Katie Holmes, The Gift 1998

As many teenagers around the world watched romance blossom on Dawsons Creek, Katie Holmes bared more than expectedon supernatural thriller The Gift.

6) Helena Christensen, Reebox 2010

(Picture: Reebox)

Jaws dropped around the world when supermodel Helena Christensen stepped out of retirement wearing just a pair of trainers. She was 41 at the time.

7)Rihanna, Lui Magazine 2014

(Picture: Lui Magazine)

Hiding underneath a bucket hat and braids, Rihanna stripped off entirely for Lui Magazine this year. It wasnt the last time she bared her chest after wearing next to nothing at the CFDA Fashion Awards in November.

8) Marilyn Monroe, Playboy Magazine 1953

Its the image that started it all, Marilyn Monroes centrefold in the very first Playboy issue in 1953.

9) Drew Barrymore, Playboy Magazine 1995

The ET actress shocked her fans when she posed in playboy aged just 19 years old in 1995.

10) Angelina Jolie, Gia 1998

(Picture: Gia)

Hollywood actress Angelina Jolie bared her chest in 1998 film Gia, a biographical movie about fashion modelGia Marie Carangi.

11) Kate Moss, Playboy 2014

Kate Moss has appeared in Playboy on several occasions the most recently being last year when she doned the familiar bunny ears for the magazines 60th anniversary

12) Heather Graham,Boogie Nights 1997

Heather Graham first released her nipples in the film Boogie Nights in 1997. She continued to do so in dozens of other films including Boogie Woogie and Killing Me Softly.

13) Beyonce, Flaunt Magazine 2013

(Picture: Flaunt Magazine)

Just a few months after giving birth to her daughter Blue Ivy, Beyonce stripped off entirely and doused herself in glitter for this magazine cover.

14) Pamela Anderson, Purple Magazine 2014

Aged 46, Pamela Anderson pushed boundaries with this magazine shoot in March this year. Several year after squeezing into a tiny red swimsuit in Baywatch, the actress showed she still had it.

15)Scarlett Johansson, Under the Skin 2013

The actress went full frontal last year in a film about a woman seducing lonely men. Turns out Scarlett actually picked up real men during filming in Glasgow to make the film more realistic.

16) Kim Kardashian, Paper Magazine 2014

And how could we forget Kim Kardashian? She not only broke the internet with shots of her behind went viralbut she full on sent it into a frenzy when she stripped off entirely the next day.

Source: http://metro.co.uk/2014/12/02/madonna-t*****s-16-other-celebrities-who-have-unleashed-their-b*****s-and-nipples-4970668/

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THE VOICE HITS 20 MILLION ITUNES DOWNLOADS SINCE FIRST SEASON

The Voice Logo

Signifying its importance on the global music stage, The Voice, in conjunction with Republic Records, reached a milestone of 20 million iTunes music downloads Monday night, dating back to its first season (iTunes.com/TheVoice).

In reaching this remarkable achievement of 20 million downloads, fans of the Emmy Award-winning musical competition series have clearly embraced the series as a vital showcase for outstanding talent. The shows eclectic performances ranges from original material to staples of country, pop and rock, among other musical genres.

All of us at Republic Records are thrilled to be part of this major milestone on The Voice. An achievement like this is only possible through the hard work, commitment and collaboration from everyone including NBC, iTunes, Mark Burnett and Republic Records. We are so happy to be a part of The Voice, said Tom Mackay, General Manager West Coast / EVP, Republic Records.

The Voice, currently in its seventh season, launched on NBC in April 2011 and is both a ratings force and cultural phenomenon in mining undiscovered talent. Artists work closely with both key advisers and their superstar coaches.

The shows innovative format features five stages of competition: the first begins with Blind Auditions, then Battle Rounds, Knockouts, Live Playoffs and finally, Live Performance Shows.

Through the seasons opening eight weeks, The Voice ranks as televisions #1 reality series in adults 18-49 and all other key demographics, with its Monday and Tuesday editions combining to average a 4.2 rating, 13 share in adults 18-49 and 13.9 million viewers overall in most current figures from Nielsen Media Research. The Monday edition is the #5 entertainment series on the Big 4 networks so far this season with a 4.5 average in 18-49, leading NBCs Monday schedule to the #1 ranking among Big 4 entertainment lineups so far this season.

The Voice is a presentation of United Artists Media Group (an MGM company), Talpa Media USA Inc. and Warner Horizon Television. The series was created by John de Mol, who serves as executive producer along with Mark Burnett, Audrey Morrissey, Marc Jansen and Lee Metzger.

For embeddable clips and more, please visit NBC.coms official show site: http://www.nbc.com/TheVoice.

Source: http://clizbeats.com/voice-hits-20-million-itunes-downloads-since-first-season-5214/

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The Buzz: Kwik Trip adds, Express sells

Kwik Trip(Photo: Maureen Wallenfang/Post-Crescent Media)

Kwik Trip will purchase two Express Convenience Centers in Appleton on Dec. 18, changing both into Kwik Trip branches. The locations are on Richmond Street at the corner of Franklin Street, and on Wisconsin Avenue at the corner of Meade Street.

Kwik Trip also signed a purchase agreement for the vacant northeast corner of Casaloma and Greenville drives in Grand Chute where it will build another store from scratch.

U.S. Venture, which owns the Express brand, sent a separate statement detailing its plans to step away from owning and operating retail convenience stores as it focuses on growing its fuel distribution side.

"In the coming months, U.S. Venture's 10 remaining company-owned Express locations in the Fox Valley and Green Bay areas will change over to new ownership. Most stores will continue to operate under the Express Convenience Center brand," it said in the statement.

About 34 Express locations will continue to operate while Express switches from a franchise to license operating model.

When Kwik Trip's deal for the two Appleton Express stations is finalized, however, those stations will close for renovation and expansion, a process that will take several months, and later reopen as Kwik Trips.

As previously announced, Kwik Trip also purchased the southeast corner of Appleton and Midway roads in Menasha to build a convenience store and gas station. It has two new stations opening in Kaukauna.

With about a dozen new or acquired Fox Cities sites over the last few years, Kwik Trip has invested millions of dollars in local development. The average cost of building or renovating each branch is between $4 million and $6 million, with $2 million to $2.5 million of that in equipment costs, said Hans Zietlow, director of real estate for the La Crosse-based company.

"We're investing money in a market we see going in the right direction," he said of the company's expansion in the Fox Cities. "We're investing where we see continued growth. When I compare this market to the rest of the state, I see it as a good place to invest for the future. The whole Fox Valley is in a much better economic position than much of the rest of the state or neighboring states."

SPECIAL SECTION: Read more Buzz from Maureen Wallenfang

Maureen Wallenfang: 920-993-1000, ext. 287, or mwallenfang@postcrescent.com; on Twitter @wallenfang

Read or Share this story: http://post.cr/1rBGlaO

Source: http://www.postcrescent.com/story/money/companies/buzz/2014/11/28/buzz-kwik-trip-adds-express-sells/19625079/

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'Walking Dead' Lurches To Top Of Twitter TV Ratings In Finale

SPOILER ALERT: This story includes a reference to aWalking Dead plot spoiler, and links to stories with more detailed spoilers.

The Walking Deadmay be stomping on the NFL on Sunday night viewer ratings, but even with what showrunner Scott Gimple called a devastatingmidseason finale last night, it couldnt get past the leagues marquee matchups when it comes to audiences, Nielsen said.

Walking Deadtopped all TV series and specials for the week, with nearly 5.2 million people seeing 773,000 tweets about the finale, which featured the demise of yet another major character and many other gotcha moments custom-made for social sharing.

Reality competitionsDancing With The StarsandThe Voice each put two shows in the top six, with only theSoul Train Awardsto break up the singing and dancing with, well, more singing and dancing.

The weeks other newcomers to the list included an unlikely Christmas special built around a fat feline-turned-Internet meme and the MTV teen drama .Awkward. (complete with odd punctuation). It is worth noting that Grumpy Cat officially has made more of itself thanks to a heaping helping of support from sponsor Purina than anyone might have thought possible, never mind worth watching or tweeting about.

Nielsen measures its Twitter TV ratings based on the unduplicated number of Twitter users who saw at least one post about a broadcast while it is airing or in the three hours before and after that first broadcast.

On the sports side, the NFL had two big matchups in prime showcase slots, and both delivered lots of Twitter love. Tops was the Thanksgiving tilt between longtime rivals and co-division leaders Philadelphia and Dallas, which drew 7.3 million Twitter audience members from 915,000 tweets, both far exceeding the hordes of Walking Dead tweeters.

The leagues second big matchup, Sunday night between perhaps its two best teams, New England and Green Bay, was only a bit behind, and still well ahead of The Walking Dead, which was on at the same time for at least part of the game on the East Coast.

More surprising was the presence of at least one of the two college football games to make it in the Sports Top 10: the traditional rivalry between Ohio State and the University of Michigan. OSU is trying to make the inaugural championship playoff final four; Michigan was playing out the string before it fires its Dead Man Walking head coach.

The other college game to get a lot of Twitter notice was not, for once, one featuring defending champion Florida State. Rather it was a key rematch between in-state rivals Alabama (ranked No. 1) and Auburn (No. 15). Last year, that game was decided by a 109-yard return of a missed field goal attempt on the final play, sending Auburn and its fans into joyful hysterics and the SEC (and eventually national) championship game.

This year, Alabama already was guaranteed a spot in the SEC championship before kickoff, but the game turned into a track meet, with more points 99 and total yards of offense 1,169 than any previous game in the rivalry, which started in 1892. That provided plenty of things to tweet about for fans who could catch their breath long enough to post something.

As always, Nielsen provides plenty of caveats with its numbers. Here are the ones for this batch:

Nielsen Social captures relevant Tweets from three hours before through three hours after broadcast, local time. Unique Audience measures the audience of relevant Tweets ascribed to a program from when the Tweets are sent until the end of the broadcast day at 5am. Sports Events include those on Broadcast and National Cable Networks only across all day parts. For multicast events, networks are listed alphabetically and metrics reflect the highest Unique Audience across all airing networks.

Source: http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNFdCWSPRKg3NdNY7YAhSxuIH0Pc7w&clid=c3a7d30bb8a4878e06b80cf16b898331&ei=c399VPihO6L68AGGuIGIBg&url=https://deadline.com/2014/12/the-walking-dead-twitter-tv-ratings-nfl-1201304817/

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Johnny Manziel's 'nap' in the endzone gives birth to new #Manzieling meme

Bills Browns second half

Cleveland Browns quarterback Johnny Manziel lays on the field after being pressured by Buffalo bill Kyle Williams during the second half at Ralph Wilson Stadium in Orchard Park on Sunday, Nov. 30, 2014 (AP Photo/The Buffalo News, Harry Scull Jr.)

CLEVELAND, Ohio -- We're not sure what Browns quarterback Johnny Manziel was thinking when he laid down motionless in the endzone for a moment (or two or three) Sunday after losing the ball and getting pummeled by the Bills.

Was he sleepy? Was he just taking it all in? Was he wondering what's the deal with those Bills fans in those silly Buffalo wing hats?

Whatever is was, it didn't take long for the birth of a new #Manzielingmeme that had nothing to do with flashing the money sign, floating on a swan or talking into a money phone.

Well done, Internet.

Source: http://www.cleveland.com/browns/index.ssf/2014/12/johnny_manziels_nap_in_the_end.html

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