The Teewave AR.1 uses Toray carbon fiber for its chassis, crash structures, body, and interior.

This concept sports car was built, from initial sketches to working prototype, in just nine months.

(Credit: Gordon Murray Design)

 

Creating a new car can take years of development, but Gordon Murray Design put together a running prototype electric sports car in just nine months. The Teewave AR.1 was commissioned by Toray Industries to show off its carbon fiber production.

Toray says that its process can make carbon fiber components in just 10 minutes. The Teewave AR.1 uses Toray carbon fiber for its chassis, crash structures, body, and interior. Other Toray materials make up interior surfaces and components of the car.

 

Gordon Murray Design opted for a modest electric powertrain in the Teewave AR.1, meaning sluggish acceleration.

(Credit: Gordon Murray Design)

 

Those light carbon fiber elements make the overall weight of the Teewave AR.1 just 1,874 pounds. The lithium ion battery pack for the car makes up 530 pounds of that weight.

Gordon Murray Design did not specify the supplier of the electric power train, but its specifications are fairly standard for new electric cars hitting the market. Range is listed as 116 miles using the New European Driving Cycle test procedure, and charging time is 6 hours.

The Teewave AR.1 does not push the boundaries of electric car performance. Its electric motor, driving the rear wheels, only produces 63 horsepower and 132 pound-feet of torque. That means acceleration of 11.4 seconds to 62 mph.

You won't be able to buy a Teewave AR.1 anytime soon. The car will be used by Toray to demonstrate its carbon fiber capabilities. But Toray says its carbon fiber components will scale from a car as small as the Teewave AR.1 to any other size of vehicle.

What this concept also demonstrates is how quickly a new car can, from sketches to a working prototype, can be built. Components such as the electric drive train and suspension are modular, while the carbon fiber can be formed from molds rather than the more time-consuming stamping process for steel, which involves more tooling.

MINI COUPE

It was quite a good idea for Mini to make a coupe version as the fifth body derivative in the model line-up because the earlier variations basically covered the widest customer expectations possible.

If you loved the Mini for what it has always been, you'd easily go for the classic Hatch. Want more fun and there's the Convertible. Need to be a little pseudo and the Clubman awaits you. Crave for family practicality and the Countryman's yours.

But if you needn't any of those values but want a genuinely good looking and driving Mini for yourself, the Coupe is the perfect choice.

The removal of the compartment for rear passengers has allowed Mini to put in place a three-box profile to give the Coupe a nice coupe profile. Adding more fun is a helmet-style roof distinctively coloured from the body.

But that's just about it when it comes to the cosmetic test because the rest of the Coupe is plainly a Mini.

There's no differentiation when it comes to the lights or front grille. Simply, it's the roof that holds the key to your liking of the Coupe.

The fascia is just like in any other Mini: fun but flawed to use.

Despite the booted appearance, the Coupe's boot lid opens in a hatch manner (together with the rear windscreen) which, in essence, makes the Coupe more of a liftback.

No rear perches means that the Coupe has that kind of boot space rarely seen in any Mini. Mini has also taken the opportunity to design the interior boot cover with stylish twin cowls. In functionality terms, the Coupe is all what two people at most would ever need.

And turning to aesthetics again, the interior reaches the same dead end as the exterior in which distinction is only confined to the rear bit. The front seats, steering wheel and fascia are like in other Minis, with the latest aspect being fun in appearance but flawed in ergonomic terms.

But you really can't blame Mini for the vast similarities the Coupe bears to its other siblings.

It's a diversification of a specific model, in the first place, and not entirely all-new on its own. Hence, the need to share as many parts as possible.

The pop-up spoiler has both visual and dynamic benefits.

So if you're expecting the Coupe to feel distinctively special on the move, prepare to frown because it doesn't. However, that can never be considered a bad thing since Minis have always been known to be cars that are great to drive.

The running gear of the Coupe is predictable enough: the engines and transmissions are the ones you have seen around since the Mini's facelift in second-gen form with no changes in power and torque outputs.

The one highlighted here for the Coupe test drive in Germany this month is the range-topping 211hp 1.6-litre petrol-turbo and six-speed manual gearbox for the so-called John Cooper Works guise.

The chassis setup is basically just like in other Minis including a sporty tuning. Absence of rear seats has also allowed engineers to place a cross-member in their place to further increase body rigidity for even better handling.

With this in mind, the Coupe drives very much like the Hatch. Performance is brisk in a straight line and impressive when picking up from low engine revs and when exiting corners.

There's no doubting the Coupe's handling, too. This is as sporty as a car of this small size gets, and the way it grips at high speeds when slamming down the autobahn to its top speed is quite amazing. Special thanks go to a new rear spoiler that pops up at over 80kph (and disappearing again when dipping below 60kph).

Ah, that spoiler, the item much talked-about in the Coupe which many critics have described as more a cosmetic gimmick rather than one for dynamic reasons. But as things turned out during the international driving trials, there seems to also be much weight leaning towards the latter factor.

The Coupe also goes around into corners with the same conviction as the Hatch: superbly agile, finely balanced and virtually free of understeer. It's equally as capable as a rear-drive sports car like the Mazda MX-5, unless your idea of looking out from the car is through the side windows.

There’s some stow space behind the front seats... and more of it in the boot.

Speaking of the driving view, the Coupe does feel different from the Hatch in the sense that the front windscreen is more slanted and not as upright as in the Hatch or Clubman. And the Coupe's rear view is limited, although the view of the spoiler (and the stripes painted on it) looks cool.

A more serious downside (in terms of marketing and not engineering) is the unavailability of an automatic gearbox. Mini still insists that JCW cars must be manual. This means that Thais won't be getting this powerful JCW, unless they order it.

Instead, the Cooper S and Cooper variants will come at the year-end with six-speed slushers, the prior spec having steering-mounted paddle-shifters. There wasn't the chance to sample the Cooper S, but it's fair to say _ based on previous driving experiences of other Minis _ that the Coupe with this power treatment will still be a fast car to drive.

You need not have suspicions about the Coupe's ride: the underlying firmness of the chassis makes for a stiff ride, even on the slightest of potholes on German roads. We'd easily say that the ride on Bangkok streets would be terrifyingly hard.

Spain 'a Top Choice' For Those Thinking Of Moving Abroad

 

Spain has been named among the top five destinations that people would consider moving to if they were going to leave the UK, new research has found. A survey conducted by Post Office International Payments revealed that the European nation, which was the fourth most popular location named in the poll, was a possible choice for ten per cent of those questioned. The firm also pointed out that it was the highest-placed nation where English is not the first language. One of the top reasons given for buying a property in Spain or elsewhere in the world is the chance to have a better quality of life, while other reasons to move included warmer weather, discovering a new culture and the adventure of emigrating. Mortgage provider Conti published figures earlier this month showing that it has received seven per cent more enquiries about relocating to Spain so far in 2011 than last year. Overall, the country accounts for 31 per cent of all queries handled by the organisation, with only France garnering more interest.

US Deep-Sea Explorers Must Return $500 Million Treasure To Spain

federal appeals court on Wednesday ruled that US divers in Florida have to fork over 17 tons of buried sea treasure worth an estimated $500 million to Spain. But Tampa, Fla.-based Odyssey Marine Exploration has vowed to continue the protracted legal battle over the cache, which could be worth as much as $500 million. In a statement Wednesday, the company said it would take the next step in the appeals process, requesting a hearing before all the judges of the 11th Circuit Circuit Court of Appeals.  Cracked Mayan Code May Pave Way to Lost Gold 2,000-Yr-Old Mayan Palace Discovered Treasure Divers Find $500,000 Gold Ring From Spanish Sunken Ship That came after a three-judge panel of the 11th Circuit had issued its ruling in a case that could case spill over to treasure hunts for years to come. "We are certainly disappointed by the 11th Circuit's ruling," said Melinda MacConnel, Odyssey's vice president and general counsel. "We believe the U.S. Constitution and all other applicable laws give jurisdiction to the U.S. courts to determine the rights of Odyssey, Spain and all other claimants in this case." Attorneys for Odyssey asked the three-judge panel to overturn a lower court ruling and uphold the "finders keepers" rule that would give the treasure hunters the rights to coins, copper ingots, gold cufflinks and other artifacts salvaged in April 2007 from the galleon found off the coast of Portugal. Spain's lawyers countered that U.S. courts are obligated by international treaty and maritime law to uphold Spain's claim to the haul. The ship, called the Nuestra Senora de las Mercedes, was sunk by British warships in the Atlantic in 1804 while sailing back from South America with more than 200 people on board. Odyssey created an international splash in May 2007 when it announced that it had recovered more than 500,000 silver coins and other artifacts from the wreck and flew the treasure back to Tampa. Spain went to the U.S. District Court in Tampa, where the company is based, claiming ownership. Odyssey disputed the Spanish government's ownership of the valuable cargo. James Goold, a Washington attorney who represented the Spanish government in court, called the appeals court decision "a complete and much-deserved victory." "The court recognized that stripping the sunken Spanish ship of coins to sell to collectors is no more appropriate than to do that to the USS Arizona in Pearl Harbor," Goold said. "We are pleased and gratified that the court recognized U.S. obligations under international law, just as Spain respects the sanctity of sunken U.S. Navy ships." A federal judge sided with Spain in the first round of the tug-of-war in June 2009, accepting the Spanish government's argument that it never surrendered ownership of the ship and its contents. Attorneys argued the case before the 11th Circuit panel in May. Odyssey had argued that the wreck was never positively identified as the Nuestra Senora de las Mercedes. And if it was that vessel, then the ship was on a commercial trade trip -- not a sovereign mission -- at the time it sank, meaning Spain would have no firm claim to the booty. International treaties generally hold that warships sunk in battle are protected from treasure seekers.

Alexa Chung range a hit

 

Alexa Chung's latest range for Madewell caused the retailer's website to crash. The British beauty announced her partnership with the label last year, creating a line that was popular amongst fashionistas. Alexa launched her second collection with the US brand yesterday and celebrated with a star-studded bash in Los Angeles. The 27-year-old star tweeted her excitement before the party. "It's my Madewell collection launch party tonight in LA. Very Exciting," she wrote, before later letting her fans know how popular the launch had been. "Congrats! You crashed the @madewell1937 website with the purchase onslaught. Glad you like it! Xxxx (sic)," she added. Guests at the fashion launch included Kate Bosworth, Elle Fanning, Amanda Seyfried and Dianna Agron. Alex donned a gorgeous Madewell mini dress for the party, while Elle also opted to wear the designer. The young actress chose a lacey shift, while Amanda wore a polka dot Madewell blouse. Diana also chose to sport the label, and opted for a tan-coloured shirt dress. Alexa's range includes vintage-inspired tea dresses, skirts and lace tops. The star's advertisements, which were shot in Austin, Texas, were recently revealed last month. "We were all so in sync," Madewell's Head of Design, Kin Ying Lee said of the process. "Since it's the second collection, it was like old friends getting together and creating something - and having a great time in the process.

THE Queen gave Prince William the go-ahead to rip up the official guest list for his wedding to Kate Middleton

Prince William (pic: Handout)

THE Queen gave Prince William the go-ahead to rip up the official guest list for his wedding to Kate Middleton, he has revealed.

He told how he never knew a soul on the official paper of hundreds of people and was not happy with the line-up.

“They said: ‘These are the people we should invite’. I looked at it in absolute horror and said: ‘I think we should start again’.”

The 29-year-old said: “I came into the first wedding meeting, post-engagement. And I was given this official list of 777 names, dignitaries, governors, all sorts of people, and not one person I knew.

William told how he then approached the Queen for help. He added: “I rang her up the next day and said: ‘Do we need to be doing this?’

“And she said: ‘No. Start with your friends first and then go from there’. And she told me to bin the list.

“She told me there are certain times when you have to strike the right balance.”

Elizabeth Taylor's designer clothes to be auctioned

 

Designer clothes owned by Hollywood legend and fashion icon Elizabeth Taylor, including haute couture by Chanel, Yves St. Laurent and Dior, will be sold at auction in New York, Christie's said on Wednesday. The silk chiffon dress that the Academy Award winning actress wore for her first wedding to actor Richard Burton will be among the nearly 400 times included in the four-day series of sales in December. "One of the many great treasures within Elizabeth Taylor's vast collection is her extraordinarily well-preserved wardrobe," said Marc Porter, chairman and president of Christie's Americas. "The stunning outfits she wore to galas, award ceremonies, AIDS benefits and even her own weddings to Richard Burton are all here, lovingly maintained along with the handbags, shoes, hats and other accessories that completed her superstar looks," he added in a statement. The December 13-16 sales, which span over 50 years of fashion, will follow a global three-month tour which will also includes Taylor's renowned jewelry, fine art and memorabilia. It will be the second in a series of auctions from the estate of the legendary film star who died in March. Nearly 6,000 people viewed the collection this month when it was displayed in Moscow. Stops in Los Angeles, London, Dubai, Geneva, Paris, Hong Kong and New York will follow. Meredith Etherington-Smith, Christie's' curator for the fashion auction, described the items as "a highly personal collection." "This is not a red carpet wardrobe edited by stylists but a treasure trove of looks chosen by the last of the great movie stars. Many of the pieces in this lifetime collection were couture, custom made for Ms. Taylor by designers who became her close friends, including Valentino Garavani, Gianni Versace and Gianfranco Ferre." Some 68 of Taylor's most iconic looks will be auctioned at a gala evening sale on December 14, followed by hundreds of other fashion items and accessories in other sales. Highlights will include a Versace beaded evening jacket arrayed with portraits of the actress in some of her famous movie roles, which is estimated to sell for up to $20,000. The sunflower yellow dress by Hollywood designer Irene Sharaff that Taylor wore to her 1964 wedding to Burton has an estimated sale price of $40,000 to $60,000. Taylor's estate was valued at up to $1 billion when she died of congestive heart failure at age 79. A portion of the proceeds from the exhibitions, events and publications related to the auction will be donated to The Elizabeth Taylor AIDS Foundation, which the actress founded in 1991. The series of Taylor sales are individually devoted to jewelry, haute couture, fashion and accessories, decorative arts and memorabilia from Taylor's Bel Air home, and Impressionist and modern art.

Ernest Hemingway’s final visits to Spain are remembered at a new exhibition in Rioja.

Ernest Hemingway’s final visits to Spain are remembered at a new exhibition in Rioja.

Hosted and created by Bodegas Paternina at its Conde de los Andes winery in Ollauri, the exhibition entitled “Tinta, Sangre y Vino” – “Ink, Blood and Wine” – celebrates the writer’s visit to the winery 55 years ago and marks 50 years since his death.

However, the exhibition does not focus solely on Hemingway’s visit to Paternina in 1956.

Making use of never-before-seen photographs and working with the Hemingway family, Paternina’s exhibition is more of a look at Hemingway’s association with Spain in the final years of his life.

Greater attention is given to his passions for wine in general, bullfighting, writing, fiestas and good company. Carlos Eguizábal, CEO of Paternina, spoke to the drinks business at the opening ceremony in Ollauri.

“We felt the exhibition was appropriate because of his relationship with wine and Rioja in general,” he said.

“There is a connection between wine, culture, bullfighting and literature which Rioja encapsulates and which underpinned his love of Rioja and Paternina. It’s a celebration of his life.”

Hemingway’s daughter-in-law Valerie and grandson John were also at the opening of the exhibition and Valerie tolddb about the author and his connections with wine.

“He was always looking for what was good,” she said. “Not always the best but what he could enjoy. He didn’t follow trends or labels or vintages but wine was part of the fabric of his life.”

As for his reputation as a heavy drinker (and at worst a drunk), Valerie countered: “He was very disciplined with his drinking and never drank because he ‘needed’ the drink. He would also never write after drinking, saying: ‘Anything you write after drinking is worthless’.”

Much of the exhibition centres on Hemingway’s return to the bullfights between 1956 and 1960.

His visit to Paternina in 1956 coincided with the coming of age of Antonio Ordóñez son of the bullfighter Cayetano Ordóñez also a friend of Hemingway and model for the character Pedro Romero in The Sun also Rises.

Antonio was on a tour of the Basque country and Rioja in 1956 and Hemingway followed his fights in cities such as Bilbao, Pamplona, Haro, Logroño and Calahorra.

It was on this trip that the two of them visited Paternina and a great many of the unseen photographs in the exhibition show the pair being shown around the cellars – and tasting wine.

Hemingway would follow Antonio on subsequent returns to Spain between 1956 and 1960.

These, along with the mano a mano contest between Antonio and his great rival and brother-in-law Luis Miguel Dominguín in 1959, formed the basis of Hemingway’s last series of articles for Life magazine, The Dangerous Summer.

To help commemorate the event, Paternina’s winemaker Carlos Estecha has designed a special edition label for the 2006 Conde de los Andes reserva.

The exhibition runs from Tuesday to Sunday – with more limited opening times on Sunday – until 15 April 2012. Admission with a tasting is €3, €2 for over 65s and under 18s and free for under 14s.

Celebrity Cruises Taps Top Chef to Join Culinary Team

Known for its culinary leadership and commitment to offering guests a modern, luxurious experience during their precious vacation time, Celebrity Cruises has expanded its already robust culinary talent by naming 2010 James Beard Foundation "Rising Star Chef" nominee and 2007 "Rising Star Chef of American Cuisine" John Suley as its director of Culinary Operations. Tapped by Celebrity's charismatic Vice President of Culinary Operations Jacques Van Staden – himself a James Beard-nominated Master Chef – Suley is widely regarded as one of the country's top "up and coming" chefs. Prior to joining Celebrity, he worked in the star-studded, international dining scene as executive chef at the South Florida incarnation of three-time James Beard honoree Alfred Portale's famed "Gotham Bar & Grill" (New York), "Gotham Steak" at the chic Fontainebleau Hotel in Miami. Suley's wealth of experience also includes work at the Ritz Carlton-South Beach, the Waldorf Astoria and St. Regis hotels, and with many of the world's most accomplished chefs, including Daniel Boulud, and Celebrity's Van Staden himself, at some of the finest restaurants in the dining mecca of Las Vegas. Suley is a graduate of the Culinary Institute of America. At Celebrity, Suley joins Van Staden in leading the line's continuing quest to achieve the highest levels of consistency, quality and innovation in the culinary experience. "John Suley is known for his edgy and innovative cooking style, and is a genuinely unique chef," said Van Staden, "Having known him for 12 years, and observing the amazing contributions he made during the recent debut of our newest Solstice Class ship, Celebrity Silhouette, I am confident he will be an inspirational and creative leader within Celebrity's innovative culinary team, and will make tremendous contributions as we continue to prove to vacationers around the world that we can treat them to a dining experience that is easily comparable to the best on land." About Celebrity Cruises: Celebrity Cruises' iconic "X" is the mark of modern luxury, with its cool, contemporary design and warm spaces; dining experiences where the design of the venues is as important as the cuisine; and the amazing service that only Celebrity can provide, all created to provide an unmatchable experience for vacationers' precious time. Celebrity sails to Alaska, Australia/New Zealand, Bermuda, California, Canada/New England, the Caribbean, Europe, Hawaii, the Pacific Coast, Panama Canal, South America, and year-round in the Galapagos Islands. Celebrity also offers immersive cruisetour experiences in Alaska, Australia/New Zealand, Canada, Europe and South America.

Who needs The X Factor when you have your own shoe line?

Credit: Mike Marsland/WireImage.com

 

Cheryl Cole was all smiles at the Olivier National Theatre in London on Monday night, where the ousted X Factor judge was celebrating her newest venture -- fabulous footwear!

 

To celebrate her partnership with U.K. fashion website, Stylistpick.com, the 28-year-old Brit showed off her amazing figure through the sexy cutouts in her scarlet mini dress. She styled her hair into a voluminous bouffant accessorized with a gold headband and sported smoky eye makeup.

 

The stylish star finished off her look with a pair of sparkling, sky-high heels. But despite their fabulous appearance, weren't such a walk in the park.

"Girls..Don't you just love taking your foot out of a heel and into your slippers..The best! Feels like my feet are having a cuddle.. X," the Girls Aloud singer tweeted after the event.

Cole's limited-edition footwear collection is due to hit stores in December just in time for the holiday season.

 

"Cheryl is the style icon and is amazingly warm -- a quality that has made her the nation's sweetheart," Stylistpick's CEO, Juliet Warkentin, said. "We believe that the launch will have a huge fashion impact, establishing fashion's greatest influencer as a major force in fashion design."

Cole will also curate her own picks on the site as well as give style tips to users.

Pippa Middleton sat front row at the Temperley London show at London Fashion Week

Pippa Middleton had a prime seat at the Temperley runway show at London Fashion Week at the British Museum. (Tim Whitby - GETTY IMAGES) on Monday, taking in the elegant 2012 resort collection by Alice Temperley next to British journalist Peaches Geldof and actress Rosario Dawson.

The line contained garments that could easily be seen on either Middleton sister, with tailored jackets and clean cocktail dresses. Drop-waist dresses and a ’20s flapper vibe was also incorporated in the collection, a trend that was also seen during Mercedes Benz Fashion Week in New York last week.

This is not the first time Pippa and Temperley have appeared in the same headline. The royal bridesmaid wore an emerald green gown by the designer for Kate and Will’s post-wedding festivities in April.

Marbella Club Hotel, Golf Resort & Spa: Marbella, Spain hotel:

 

Located on the Southern Spanish Costa del Sol, in the heart of the 'Golden Mile' only 5 minutes to Old Town Marbella and Puerto Banús, with 320 days of sunshine and a mild year round average temperature of 21ºC). Open year round, the renowned Marbella Club Hotel, was once the private residence of Prince Alfonso von Hohenlohe. The 121 luxury bedrooms and suites, spread over the beach front resort, harmonize with 14 Andalusian-Style villas throughout 42,000 square meters (452,083 sq. ft.) of lush subtropical gardens. Each guest room is decorated with the finest fabrics and Mediterranean interior design, reflecting the surrounding elements and has furnished balcony / terrace and spacious luxurious bathrooms with separate shower and bath. The 14 charming villas are in the unmistakable style of the Hotel, faithful replicas of traditional Andalucían architecture, blending harmoniously with their surroundings, and are ideal for families and guests seeking to enjoy more space and privacy. The 2, 3 or 5 bedroom villas have their own private garden and heated pool, providing guests with both comfort and privacy during their stay. Both of the 2 outdoor heated swimming pools, one with seawater invite you to relax in the surrounding gardens or to enjoy the views of the Mediterranean through the palm trees of the famous beach club.

Housing Market Woes Even Hit Celebs

Even celebrities are having a hard time selling their mega-mansions. More on DIS Fan Cam: The Next Sports Cash Machine?Jay Rasulo, Senior Executive Vice President And Chief Financial Officer, The Walt Disney Company, To Speak At The Goldman Sachs 20th Annual Communacopia ConferenceBond Funds See Huge Spike in Inflows Market Activity The Walt Disney Co| DIS Mommy-to-be Hillary Duff has put her first mansion that she purchased while starring in Disney's Lizzie McGuire up for sale with an asking price of $6.25 million. But according to The Real Estalker, Duff also attempted to sell the estate last year, listing for $7 million last time around. Real estate records reveal Duff bought the 9,277 square-foot house in Toluca Lake, Calif., in March 2004 for $3.5 million. Mark Wahlberg, a.k.a. Marky Mark, also recently re-listed his Beverly Hills estate with a $2 million price cut. Wahlberg originally listed the property in 2008 for $15.9 million. The 1.41-acre home is now listed for $13.9 million. The executive producer of Entourage purchased the mansion in 2001 for just $5 million, later remodeling it. Earlier in the summer, Christina Aguilera reduced the price on her home in the Hollywood Hills to $5.5 million from $8 million, while Jodi Foster's Beverly Hills mansion was brought down to $8.9 million from $10 million. The housing market continues to wobble with few consumers taking advantage of record-low mortgage rates. Sales of newly built homes are expected to be at their worst levels for decades this year, while sales of previously occupied homes are on pace for their poorest showing in nearly 15 years

Russell Crowe Asks for Help for Texas Fire Victims

Russell Crowe, star of Gladiator, is doing what he can to help residents of the state of Texas and asking others for support as well. After dozens of wildfires in the state, caused by the strong winds brought in by Tropical Storm Lee, thousands of people had to be evacuated. The fires caused major damage destroying2,600 homes and burning over 3.7 million acres of land in the southern state. It's certainly a worthy cause, and those who have the power to do so should help. It's always great to see celebrities lend their names to causes that matter.

According to KOIN, Russell Crowe posted the facts to his Twitter page appealing to the public to help, "3.7 million acres burnt, 2600 homes lost, Texas doing it hard this summer. To help out go towww.texasdisasterrelieffund.org." At least someone is doing something other than telling Texans to pray for rain!

The actor may have a special place in his heart for Texas after filming a live DVD in 2001 with his band, Thirty Odd Foot of Grunts. He may not be well-known for his music, but his acting has made him a household name. Russell Crowe cares about helping Texas—do you?

 

Spain finance chief admits odd quirk in wealth tax

One aspect of a plan to restore wealth tax in Spain makes no sense but there's nothing the government can do about it, the finance minister said Saturday. Elena Salgado spoke from Poland where she was attending a meeting of euro zone counterparts. The tax stems from the central, Socialist government but is collected by regional administrations. It was suspended in 2008 to stimulate growth as the global economic crisis started to bite in Spain. But the Madrid government has kept compensating regional governments for the lost revenue. Now, regions stand to get the money twice: once from high-earning taxpayers under a decree passed Friday and again from the central government because the compensation must continue under a separate law that has a higher status than a decree. Salgado said "this does not seem reasonable" but there's no way around it. "With a decree, there is nothing you can do to avoid it," she said. Her comments were the latest in a sea of confusing government statements about the wealth tax, which is levy on a person's net worth: assets minus debts. The flip-flops concerned the wealth level at which it will kick in and how much revenue it will raise. In the end, if passed by Parliament next week, the levy will apply to taxpayers' net worth above euro700,000 ($963,000), or an estimated 160,000 people, and raise euro2 billion in revenue. It is temporary, and will be in effect only in 2011 and 2012. The government says the tax is aimed at getting richer people to chip in more as Spain struggles with a 21 percent jobless rate, anemic growth and a high deficit. But it has been criticized by the conservative opposition as a populist nod to leftist voters angry over deficit-cutting austerity measures as Nov. 20 general elections approach. The ruling Socialists are projected to lose badly. Salgado's remarks seemed to contradict some made just Friday by government spokesman Jose Blanco, who said no region would get the wealth tax money twice. Salgado said Blanco really meant the same thing she did: that it seems unreasonable for regions to get the money doubly.

Stars Rake In The Swag As Emmy Gift Suites Abound

Emmy nominees are always talented, and in the days leading up to the awards ceremony many are gifted, too. Gift suites catering to Emmy nominees and presenters beckoned the stars, writers and producers of TV's top shows Saturday with loads of luxury freebies. The stars who came by the Nokia Theatre to rehearse for Sunday's ceremony were invited backstage to the HP Touchsmart Gift Lounge, where HP gave away notebook computers and made a donation to the TV academy's nonprofit foundation for each celeb who stopped by. Actor David Boreanaz of TV's "Bones" came to the suite with his family in the morning and was among the stars who collected bedazzled toasters, sneakers made from recycled plastic water bottles, designer sunglasses, Centrum vitamins, Nautica watches and a $700 hair dryer. At the Four Seasons Hotel across town, the HBO Luxury Lounge was a crowded, multi-room affair that drew LL Cool J, Loretta Devine, who won an Emmy for her guest-starring role on "Grey's Anatomy," "Mad Men" creator Matthew Weiner and veteran actress Cloris Leachman, among others. Guests could retreat to a mini spa, where L'Oreal provided manicures, makeovers, hairdos and hot shaves. They could sip cocktails inspired by HBO shows such as "True Blood" and "Boardwalk Empire" in the Klipsch listening lounge; and they could gather lots of goodies, from handbags to headphones to high-end baby strollers. Among the offerings: UppaBaby's $680 Vista stroller (outfitted with shock absorbers and an organic bassinet with a pull-out sun shade); rare and red-carpet-ready blue diamonds from jeweler Sophia Fiori; Brahmin leather handbags (popular Saturday with actress Melissa Joan Hart and TV personality Samantha Harris); indestructible steel "True Blood" headphones by V-MODA; and vegan footwear from Michael Antonio Shoes. Devine, who won her Emmy at last week's Creative Arts ceremony, was all smiles as she navigated the crowded suite. Other guests included Penny Marshall, actress Lorraine Bracco and "Entourage" star Jerry Ferrara. More gifts were handed out in Hollywood at the GBK Tic-Tac Gift Lounge at the W Hotel. But the most coveted prizes won't be presented until Sunday, when the Emmys are awarded.