This city's residents have the least debt

Detroit residents carry an average debt load of $23,604.

NEW YORK (CNNMoney)

The average debt load for a person living in Detroit is $23,604. That's the lowest of any major city and is down 7.1% from four years ago, according to Experian, which looked at credit card, auto, personal and student loan debt in the 20 largest U.S. metropolitan areas.

Other cities where residents carried the lowest overall amounts of debt included Los Angeles, Miami, New York and Boston (see table for full list below).

Related: Big data knows you're broke

Dallas residents carried the biggest debt load, with an average of $28,240. That's up 7.8% from four years ago.

Houston, Washington, D.C., Seattle and Baltimore rounded out the five cities with the highest debt burdens.

Detroit was the only city out of the 20 that saw its average debt load decrease over the past four years. Nationwide, debt has climbed 5% to an average $25,927 since 2010.

Related: 3 simple ways to get out of debt

But growing debt isn't always a bad sign, says Michele Raneri, vice president of analytics at Experian.

"[It] could actually be signaling a recovery pattern as credit lending is opening up and consumers are becoming more confident," she said.

That could also be why Detroit was the only city to see debt levels decrease. Residents may not be able to access as much credit or are refraining from taking on debt as they try to get through their own financial troubles amid the city's economic crisis, said Raneri.

Detroit residents have decent credit scores on average, however. While the average VantageScore (which ranges from 300 to 850) is 665, Detroit averaged a 667 -- meaning residents are managing the credit they do have fairly well.

Where the debt is

Detroit	$23,604
Los Angeles	$24,361
Miami	$24,884
New York	$25,396
Boston	$25,413
Tampa	$25,537
Minneapolis	$25,626
San Francisco	$25,828
Philadelphia	$26,128
San Diego	$26,423
Chicago	$26,429
St. Louis	$26,721
Atlanta	$26,940
Denver	$27,090
Phoenix	$27,267
Baltimore	$27,271
Seattle	$27,279
Washington, D.C.	$27,668
Houston	$28,105
Dallas	$28,240

First Published: April 30, 2014: 5:56 AM ET

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China's economy bigger than believed, new study claims

By one measure, China's economy is approaching that of the United States.

HONG KONG (CNNMoney)

The basis for this claim is new data from a statistical program run by the World Bank that suggests China's rapidly-growing economy is much bigger than previously thought.

Caveats abound, however.

The data, published by the International Comparison Program, relies on a way of calculating the real cost of living known as purchasing power parity. The idea is to compare economies around the world while accounting for changes in exchange rates.

By this measure, China's economy was 87% the size of the U.S. economy in 2011, putting it on track to claim the top ranking in the near future.

But if a straight comparison of gross domestic product is used, the $17 trillion U.S. economy is around twice the size of China's reported GDP. While China's economy is growing fast, it will still take years for the U.S. to lose its top spot by this measurement.

China also lags far behind when its population of 1.4 billion is taken into account. The country ranked 99th in the ICP comparison of GDP per capita, while the U.S. came in 12th.

Related: World's largest economies

So what to make of all this? Probably not much.

Comparing the size of economies is difficult, in part because different countries maintain (and sometimes manipulate) their own currencies. Fluctuations in currencies can make economies appear larger, even if there has been no change in the quantity of goods or services produced.

For example, imagine two countries with identical GDPs. If one country's currency strengthens by 10%, it does not follow that its economy is now 10% larger than its counterpart.

Related: Finally! I got a job

By using purchasing power parities to calculate the size of economies, ICP tries to take these fluctuations into account in its comparisons.

This method has its advantages, and is often used to gauge poverty in the developing world. But it also produces a significant margin of error, and is not the final word on economic might.

First Published: April 30, 2014: 6:03 AM ET

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What to really look for in April's auto sales

To get the full auto sales picture, you need to read between the spaces.

(Fortune)

While it's good to have the sales numbers, it is equally important to know how to interpret them. The raw data requires experienced eyes to identify trends and spot inflection points. To paraphrase the old saying, there are lies, damn lies, and monthly auto sales.

It's complicated. For one thing, reported sales numbers don't represent final sales to retail customers but wholesale shipments to dealers. When newly assembled cars leave the factory, they are titled and become the property of a dealer, and the sale is counted. It will be several more months before a retail customer takes possession.

Manufacturers are experienced at gaming the numbers. One trick is to load unsold cars onto truck transporters and train carriers at month's end, so the vehicles can be counted as sold. Years ago, Chrysler had a habit of parking newly built cars on empty lots around Detroit and then selling them to dealers in fire sales at discounted prices. The practice, known as the "sales bank," nearly drove the company into insolvency in the late 1970s.

MORE: 10 things I learned at the New York auto show

Until the mid-'90s, sales were reported every 10 days, creating even more opportunities for gamesmanship. The last third of the month always saw a spike in sales. But once a month invites its own kind of sleight-of-hands. Here are some of the many ways to parse the monthly auto sales numbers:

Bulls vs. bears

For some analysts, the sales glass is always half full; others are typically less rosy. Take these divergent forecasts for April 2014:

At Kelley Blue Book, senior analyst Alec Gutierrez expects April "to continue with another solid month of sales, which will be supported by rising consumer confidence and improving employment conditions." Bah humbug, says independent consultant Warren Browne, who admits to not being a "natural optimist" when it comes to predicting economic growth. Browne believes the recession left deep scars and "consequently, it will take exceptional luck to keep vehicle sales growing in 2015 -- a small economic miracle, or the industry getting to crazy incentive levels."

I'd side with Browne, since Kelley could be conflicted by its mission of helping shoppers buy cars.

Three-card monte

Sales wars are fought on three levels. First, there are gross sales that count every customer: government and corporate fleets, daily rental car fleets, and retail buyers. These results tend to favor domestic makers who have lots of fleet customers -- sometimes as much as 40% of their volume. Import manufacturers that sell fewer fleet cars prefer to count retail sales only. But even though retail sales are a better measure of true demand, the numbers aren't published industrywide and don't get wide circulation. As a result, nobody can claim the award for most retail sales in a particular model.

Then there are sales adjusted for incentives, the so-called cash on the hood that automakers use to close deals. As in fleet sales, there is a whisper number as well as a published one, which allows a manufacturer to anonymously cast doubt on the sales results of a competitor. Honda (HMC), which eschews incentives, uncharacteristically went public a few days ago (without naming names) when it declared in its March sales report that Honda market share remained strong "despite heavy incentives from several major automakers."

Classic duels

Sales analysts like to report on the progress of several head-to-head sales battles, which vary widely in their economic significance. One of the most popular is Toyota Camry vs. Honda Accord because the winner is usually the bestselling car overall, a title that carries considerable bragging rights. In narrower segments, Mustang vs. Camaro and Chevy Volt vs. Nissan Leaf have followers, though low volumes make the outcomes inconsequential. The battle between BMW and Mercedes-Benz for the honor of bestselling luxury brand is also widely followed, even though large sales numbers don't correlate with premium exclusivity.

MORE: GM posts huge profit drop driven by ignition switch crisis

The most closely watched contest in 2014 -- and deservedly so -- is between two trucks: Chevy Silverado and Ram. Chevy has long been the runner-up in truck sales (Ford's (F, Fortune 500) F-series is way out front) but Ram passed it in March sales. At stake are the lushest variable profits in the business -- up to $10,000 per truck.

Quote wars

For auto sales insiders, there is another two-way spat going on: Edmunds.com vs. Kelley Blue Book. They fight not over sales, but over who gets more analyst quotes into print. After Edmunds started providing prepackaged quotes to journalists a few years ago, Kelley began doing the same. Now the two battle each month in an effort to gain visibility for their car shopping websites. Most of their comments are to the point, though they sometimes lapse into tautologies along the lines of "falling sales are a sign of declining popularity" and "if their sales keep going down, they could be in trouble."

U.S. vs. Japan

A popular stat that compares the market share of the old Big Three to the Japan Six went out of favor when Detroit's share seemed to stabilize, and it became almost unpatriotic to point out the shortcomings of domestic producers. Now it may be time to revive it. As Warren Browne points out in his latest report, Detroit's share has fallen 5.9 percentage points since the 2008-2009 financial crisis, and the Toyota (TM) brand may outsell General Motors' (GM, Fortune 500) Chevrolet this year. If the domestics keep losing sales like that, they could be in real trouble.

First Published: April 30, 2014: 6:09 AM ET

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Why did China force The Big Bang Theory offline?

The cast of "The Big Bang Theory" -- no longer viewable in China.

HONG KONG (CNNMoney)

"The Big Bang Theory," "NCIS," "The Good Wife" and "The Practice" were taken offline over the weekend. The orders came from the State Administration of Press, Publication, Radio, Film and Television, which gave no reason for their removal.

The shows -- especially "The Big Bang Theory" -- were extremely popular with Chinese users on legal video streaming sites including Sohu and Youku Tudou. The sites pay U.S. studios to license content, which is then streamed alongside local advertisements.

The crackdown hit Chinese Internet stocks. Youku Tudou (YOKU) shed 5.5%, Sohu (SOHU) declined 6.7% and search giant Baidu (BIDU) fell 7.4%.

While still dwarfed by state broadcasters, streaming Web content is gaining popularity in China -- especially with younger audiences and the middle class. "The Walking Dead" and "House of Cards" are among the biggest hits, racking up tens of millions of views.

The Internet and media are closely controlled in China. Services including Facebook (FB, Fortune 500) and Twitter (TWTR) are banned, and Beijing has invested heavily in a firewall that restricts access to controversial websites. Films are censored, and Beijing limits imports of Hollywood movies.

But the nascent Web streaming industry has managed to escape some regulatory scrutiny. The content is often racier or more controversial than shows broadcast on state-owned television channels such as CCTV. Foreign shows are much easier to find.

Related story: Meet four kings of Alibaba's online retail empire

Yet it remains unclear why innocuous programs like "Big Bang" were targeted in the crackdown, especially since other popular -- and controversial -- shows are still available. "The Walking Dead" is an ultra violent post-apocalyptic horror drama, and political corruption is a major theme on "House of Cards." The latest season of the Netflix hit even highlights the inner workings of a fictional Chinese Politburo.

So why are regulators allowing some shows to run, while denying Chinese consumers their seemingly innocuous "Big Bang" fix?

Sohu Chairman Charles Zhang wouldn't say why the four shows were removed when asked on Tuesday, but he suggested the move was not part of a broad policy change.

"I believe the policy for American TV shows is not tightening up," Zhang said during an earnings call. "We don't see any major change to stop this trend."

Related story: Netflix to increase subscription prices

Analysts have suggested that Beijing may be trying to protect the interests of broadcasters including CCTV, which have been challenged by upstart satellite and Internet content providers.

It wouldn't be the first time officials have tried to protect state media interests at the expense of private operators. Last year, programmers were warned to cut down on wildly popular reality television and talent shows that were stealing attention from CCTV programs.

The Wall Street Journal reported that a cleaned up version of "The Big Bang Theory" may soon appear on CCTV.

Regulators may also be using the episode to remind tech companies of Beijing's power -- the second such warning in days.

Officials said last week they would strip Sina.com of its video and audio publication licenses after finding lewd images on the website. The company immediately went on an apology tour, but it's not yet clear that contrition will help Sina avoid punishment.

First Published: April 29, 2014: 7:08 AM ET

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For entrepreneurs, cycling is the new golf

In Southern California, Michael Marckx spearheads a group of cyclists who regularly ride and network.

NEW YORK (CNNMoney)

"Unlike golf, cycling is also a great equalizer," said Andy Clarke, president of the League of American Bicyclists. "You're the same as the person riding next to you. So it makes people more approachable. "

Entrepreneurs also gravitate toward cycling because it's a better way to stay in shape, said Clarke. It's also less time consuming and relatively less expensive.

"The trend is gaining momentum in bustling business centers," he said. "But it's also taking root in the heartland of the country, in places like northwest Arkansas."

Related: Meet America's oldest bike maker

In 2007, Jason Kayzar founded the Midwest Cycling Network for those who enjoyed the outdoors but wanted a change from 18 holes.

"I wanted to draw decision-makers, business owners, c-level executives who are in charge of their own schedules," said Kayzar, the founder and president of Milwaukee, Wis.-based MC2, a telecom service provider.

The rides started with just a few people he knew. But today, the group has 500 members and meets once a month for a two-hour, 35-mile ride. It usually attracts between 10 and 40 people -- architects, web designers, builders and small business owners -- most from the the Milwaukee area, but some from cities like Madison and Chicago.

Kayzar actually struck one of his firm's most lucrative deals on a ride five years ago when he signed one of the largest scaffolding firms in the country as a client.

While Kayzar said there's a little chit-chat as they ride (it's legal to ride two abreast in Wisconsin), the big chance to network comes at the end when they stop at a Mexican restaurant for chips and salsa and a round of drinks.

"Unlike golf, we're not committing to a couple of hours and all kinds of expenses just to network," said Kayzar. "This is a free gathering, very informal and you're done in 2 hours."

Because the monthly rides are mostly male dominated, Kayzar recently launched a second group in the hopes of attracting more women.

"It's half the speed and half the distance," he said.

Related: Hot startup ideas

There's no escaping golf's influence in the Southern California city of Carlsbad. It's home to Callaway (ELY), the world's largest maker of golf clubs, Cobra Golf, a top maker of golfing equipment, and a number of top-notch golf courses.

But even here, many entrepreneurs are choosing cycling over golf.

"It's a better cardio workout. You can get a great ride done in one to two hours as opposed to hours on a golf course," said Michael Marckx, CEO of eyewear company Spy Optic. "And you can actively network with more people."

Marckx is the driving force behind a cycling group of 60 people who gather every Tuesday and Thursday for a 30-mile trek.

"We get CEOs, entrepreneurs, and division heads of biotech and pharmaceutical companies joining in," he said. "Cycling is absolutely becoming the go-to activity for 40- and 50-year-olds who find it's a better compliment to their lives."

Sometimes the rides result in business deals and new hires. On a January ride, Marckx met a fellow cyclist who he hired to run performance marketing at Spy Optic.

Related: This startup thrives on a four-day workweek

Brad Swope recently broke several ribs in a cycling accident, but he's itching to rejoin his cycling group in Louisville, Ky., which he says is a "phenomenal cycling town."

"You see people from all professions -- doctors, lawyers, firemen, business folks -- getting together for rides," said Swope, a marketing director.

Swope said many riders in his group have ditched golf for cycling because it keeps them more active and is easier on the wallet.

And sometimes a ride can turn into a networking bonanza. It was on a group ride a decade ago that Swope befriended John Schnatter, founder of Papa John's (PZZA). Their conversations during the rides eventually inspired Swope to enter the restaurant industry. He and his wife are now partners in a local chain called Wild Eggs.

"It's ironic that I gave him cycling tips years ago and he would give me tips about the restaurant industry," said Swope. "Cycling can be very effective for networking."

First Published: April 29, 2014: 5:56 AM ET

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Stocks: Emerging from a month-long funk?

Click on chart to track premarkets

NEW YORK (CNNMoney)

But U.S. stock futures were pointing higher Tuesday, lending some hope that the final days of April may make up some lost ground. U.S. stocks ended mixed Monday.

Earnings continue to dominate Tuesday's agenda. Sprint (S, Fortune 500) reported a narrower-than-expected loss and strong sales. eBay (EBAY, Fortune 500) and Twitter (TWTR) are among the major companies reporting after the close.

Related: Fear & Greed Index still gripped by fear

Share of BP (BP) nudged higher after the oil and gas firm hiked its dividend. Retailer Coach (COH) was taking a hit after the company missed sales forecast, even as it beat on earnings.

Aside from earnings, shares of Nokia (NOK) surged 8% premarket after the company announced a new CEO and plans to spend billions on dividends and share buybacks. Nokia has just finalized the sale of its handset division to Microsoft (MSFT, Fortune 500), allowing it to focus on its networks business.

In economic news, the S&P/Case-Shiller home price index will be published at 9 a.m. ET. The Conference Board will publish its consumer confidence index at 10 a.m. ET.

Related: CNNMoney's Tech30

European markets were higher in morning trading. Russian stocks rose and the ruble firmed against the dollar as investors shrugged off the latest round of U.S. and EU sanctions imposed this week over the crisis in Ukraine.

The British pound pushed higher, trading at its highest level against the U.S. dollar since August 2009, as GDP data showed U.K. growth accelerated to 0.8% in the first quarter. The economy grew by 3.1% during the same period a year ago.

Asian markets closed mixed. The two major indexes in China logged gains, while the Nikkei in Japan declined by 1%.

First Published: April 29, 2014: 5:24 AM ET

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Google Now and Cortana are the future, not Siri

NEW YORK (CNNMoney)

Based on the investments Big Tech companies are making, the next tech wave will likely be powered by contextual and predictive technologies.

In plain terms, contextual and predictive technologies are designed to get our devices to do exactly what we want without us having to ask over and over again.

Microsoft's (MSFT, Fortune 500) new Cortana feature for Windows Phone can dive into a handful of apps and anticipate when and where you'll need certain bits of critical information. For example, Cortana can offer up your flight info and boarding pass as you travel to the airport. It can then prominently present that information to you without you doing anything. In some cases, it could even automatically relay information to another app.

What's particularly interesting about Cortana is how much attention Microsoft has given it. Cortana was the star of the show at this year's Microsoft Build developers conference, overshadowing substantial Windows and Windows Phone updates.

Microsoft is not alone, either.

Related: Meet Cortana, Microsoft's Siri

Google (GOOGL) offers a similar service called "Google Now" for Android devices. Earlier this year, Yahoo! (YHOO, Fortune 500)paid a cool $80 million for Aviate, an Android app that changes the look of users' homescreens based on where they are, what time of day it is, and what they're doing. Nest's thermostats learn your habits and the most efficient way to manage the temperature in your house.

The lack of contextual services is also what makes Apple's (AAPL, Fortune 500) Siri feature more of a gimmick than a digital assistant. Apple has spent years polishing its voice recognition technology, which works pretty well. But aside from things like dictating text messages, setting alarms, and checking the weather, there's not much to it that is actually useful.

Why all this attention to context and predictions? As new categories of technology, including wearable devices, grow more popular, services such as Cortana and Google Now will only rise in importance.

Contextual and predictive technologies, if done right, will streamline and improve the process of interacting with a phone, watch, headset, television and cars. Smarter software inside a car could help keep our focus on the road. Embedded within a video streaming service, it could determine each person's likes and dislikes in a room and recommend something everyone will want to watch. And it could mean less interaction with devices that have limited physical space, particularly watches or Google Glass-like wearable displays.

That's why Google prominently mentioned Google Now features when introducing its forthcoming Android Wear platform for smartwatches. With Google Now, Android-powered watches have the potential to determine where you are, and to a certain extent, what you're doing. They could also predict what you're most likely to go tapping and swiping for and then display that on the watch's screen.

Related: Windows 8 will soon be more like Windows 7

How well this will work in real life remains to be seen. But without the predictive powers of Google Now, any Android watch would have struggled to be more than a clone of Samsung's woeful Gear smartwatches that force you to swipe and swipe and swipe to accomplish anything.

As cool as this not-so-distant future sounds, the thought of technology constantly tracking you and collecting data can seem a bit dystopic. The rise of these services will require a certain level of caution and responsibility from their creators.

Marcus Ash, the program manager for Microsoft's Cortana project, stressed how important it was to approach the issues of data collection and privacy with extreme sensitivity.

Cortana, for example, has a built-in dashboard where users can see exactly what the software is tracking and the the types of data it is saving. Ash says that outside apps have no access to any personal data collected, and the user has complete control over changing or removing any settings or collected data.

"When it comes to new technologies like this, you only get one chance to win people over," said Ash. "And if you mess that up, it's a hard thing to recover from."

So far, these services have avoided any of the major pitfalls that could detract from mass adoption of these technologies. And that's a good thing, because without them, technology would be much more boring right now.

First Published: April 28, 2014: 6:24 AM ET

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NFL Cheerleaders: We're not even making minimum wage

A lawsuit against the Oakland Raiders was the first of several this year filed by cheerleaders against their NFL teams.

NEW YORK (CNNMoney)

Several current and former cheerleaders are suing their NFL employers over pay.

Three separate suits filed against the Oakland Raiders, Buffalo Bills and Cincinnati Bengals describe contracts that don't guarantee the minimum wage and claim the cheerleaders are vastly underpaid.

The suits say cheerleaders also aren't compensated for equipment they must buy, practices they must attend and community appearances they must make. Cheerleaders must meet exacting hair, makeup and uniform standards set by the team and keep up with physical fitness requirements, according to court documents.

One former cheerleader for the Cincinnati Bengals, Alexa Brenneman, said she was paid no more than $90 for each game and worked 10 games. Including $75 for a public appearance, she said she was paid $855 for the 2013 season and worked "well over 300 hours a year."

Including the games, practices and other events, she calculated her hourly wage at $2.85.

Team spokesman Jack Brennan responded, "The Ben-Gals cheerleading program has long been a program run by former cheerleaders and has enjoyed broad support in the community and by members of the squad." The team's attorneys filed documents in federal court which argued Brenneman "has been paid all wages allegedly due" under state and federal law.

The case against the Raiders, which was filed in January, is tied up in court over a stipulation in the cheerleading contract that disputes be settled in arbitration, said attorney Sharon Vinick, who represents a former Raiders cheerleader named Lacy T.

Related: Cheerleader sues Oakland Raiders over wages

"This is our dream job, we work extremely hard to be on this team and to maintain our spot on this team," Lacy T., who is suing the Raiders, told CNN. The team declined to comment when the suit was filed and didn't respond to a new request for comment last week.

The lawsuit against the Bills, filed by five former members of its cheerleading organization the "Jills," said "each individual Jill provides approximately 20 hours of unpaid labor per week ... This equals 840 hours of unpaid work per woman, per year."

They claimed they were paid only a few hundred dollars for an entire season, which includes about eight regular season games, plus some preseason play.

A spokesman for the Bills said the team was aware of the lawsuit but would not comment on it publicly.

Related: FCC considers scrapping 'blackout rule'

The central legal question in the disputes is if the cheerleaders were properly categorized as independent contractors, who aren't subject to certain regulations like minimum wage, or should have been considered employees.

Several experts said it's likely the cheerleaders weren't paid fairly.

"If it had been my client, I never would have told them to make (the cheerleaders) independent contractors," said Deborah Kelly, a partner at Dickstein Shapiro a law firm that typically represents companies in employment disputes.

"Cheerleaders are certainly employees," said Justin Swartz of Outten & Golden. "They're providing a benefit that directly entertains the fans, just like the players," Swartz, who typically represents people who sue their employers, said.

Stewart Schwab, a dean and professor at Cornell, said the distinction between an employee and contractor is the amount of supervision and direction that the employer provides.

"The more they're required to do and the more they're required to show up at particular times and work with others in a coordinated fashion and listen to a boss, the more they're sounding like employees," Schwab said. "I think there's quite a bit to that suit."

Even if the cheerleaders should have been considered employees, there are are some narrow exceptions to the federal minimum wage, such as for seasonal employees and small businesses.

First Published: April 28, 2014: 6:35 AM ET

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Guerrilla marketing for books

Author John Shors (second from right) with a group of readers in front of a Bangkok temple.

NEW YORK (CNNMoney)

He leads tours of the Southeast Asian temples and hidden jungles that inspired his books. The idea: Get people excited about his work, and sell books -- a lot of them.

Today's authors don't always lock themselves away for two years to write. Tighter publisher budgets, fewer booksellers, more competition and the rise of ebooks has put more pressure on novelists to aggressively market their books.

Writers now travel with readers, Skype with book clubs, create products based on fictional characters and produce online trailers. Competition is fierce: An estimated 301,642 books were published in 2012 alone, almost 100,000 more than in 2002, according to Bowker Market Research.

"Every author feels this pressure and thinks, 'How can I make my book stand out?'" says M.J. Rose, author of 14 suspense novels.

Traditional publishers often provide just a few thousand dollars for marketing, which means much of the responsibility falls on authors. Yet authors reap just a small amount from book sales -- about 15%, which about $1 to $2 per book.

Related: From farmers' markets to mass market

To boost buzz for her novels, Rose hired an Etsy artist for $350 to make necklaces like those featured on the covers of her recent books "The Collector of Dying Breaths" and "Seduction." And she asked New York perfumer Frederick Bouchardy to create a fragrance based on a fictional character, whose Parisian family was perfume makers.

"I was lucky that Frederick fell in love with the book and the idea of creating a perfume for my character," says Rose, who invested nothing and draws no royalties from the sales. Bouchardy sells the perfume online and in designer boutiques across the country. Rose buys $28 bottles to give away at promotional events.

The creativity paid off: Rose has sold more than a million copies of her books.

Shors, who has written six novels, started book tours last year after readers said his bestselling book, "Beneath a Marble Sky," inspired them to visit India's Taj Mahal. (CNNMoney parent company Time Warner purchased the rights for a TV miniseries.)

In February, he took a dozen readers on an 11-day tour to Thailand and Cambodia locations that inspired two of his novels. He has two more Asia trips set for this year and next.

By traveling with a few dozen readers, Shors hopes to build loyal fans who spur word-of-mouth buzz. Plus, the 11-day trips, which cost nearly $6,000 per person, offer extra income at a time when many authors need second jobs.

"It gets people excited," says Shors, who has spoken to 3,000 book clubs over the past decade. "If it wasn't for these programs, I would have sold a fraction of the books I've sold."

Related: Orange buttons boost online sales

Thriller writer Steve Berry took a similar tack, traveling with 25 readers last fall through Prague and Vienna to discuss his book "The Columbus Affair." Next year, he'll go to Southern France with readers of "The Templar Legacy."

Meanwhile, Maryland author Melissa Foster boosted her book sales with a supercharged production schedule, publishing one book a month since the start of 2013 and releasing some as free ebooks. It's made her a New York Times bestselling author who draws six-figure sales each month from her 18 books.

Foster works with a six-person editorial team to finalize drafts and says she once rewrote a 300-page novel because she didn't feel it captured the essence of her main character.

"I don't just rush through books," she says. "I'm feeding my own obsession, since nothing outside of my family makes me as happy as writing."

Foster says authors who get to know readers in book clubs and on social media will have an edge.

"Book sales are not about selling, they're about building relationships," she says. "People talk. People read. Put the two together, and there's your answer to getting noticed."

First Published: April 28, 2014: 6:42 AM ET

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Under Armour scores invite to S&P 500

NEW YORK (CNNMoney)

That puts it in the ranks of the largest largest companies on U.S. stock exchanges -- call it the "varsity league" of stocks.

Under Armour (UA) stock has been on the kind of winning streak that the Yankees would envy. It has skyrocketed 850% over the past half-decade. It will replace Beam (BEAM) in the S&P lineup once the alcohol company's $13.6 billion buyout from Japan's Suntory Holdings is completed next week.

Related: Under Armour's crew of star athletes

But the Baltimore-based company didn't get much of a victory lap. Under Armour shares fell on Friday, which is somewhat unusual since new additions to the S&P 500 typically enjoy a bounce as funds that track the broad benchmark buy shares of the companies in the index.

The problem is the athletic-gear maker is a member of the "momentum crowd", a group of stocks that has quickly gone out of style on Wall Street as investors increasingly shift their money into stocks of more boring, but stable companies.

Under Armour experienced that shift first hand on Thursday, when the company's shares tumbled over 7% despite revealing a 73% leap in profits and indicting a lot of optimism about the rest of the year.

Still, the addition to the S&P 500 highlights the ability of Under Armour in recent years to challenge industry leaders Adidas (ADDDF) and Nike (NKE, Fortune 500), the latter of which was added to the even more exclusive Dow Jones industrial average in 2013.

Under Armour sports strong profit margins and impressive growth overseas, where sales surged 92% in the first quarter from the year before. The company has also boosted sales by expanding into new categories, including hunting and golf.

Earlier this year, Under Armour scored a 10-year deal to become the official sports apparel outfitter of Notre Dame's varsity teams. Terms were not disclosed but the blockbuster deal is estimated to be worth around $100 million.

So far Under Armour has been able to weather the storm stemming from the Winter Olympics, where the U.S. speed-skating team blamed the company's high-tech suits for slowing them down in Sochi. The speed-skating team even extended its exclusive contract with Under Armour.

Shares of Under Armour fell over 1.5% on Friday, trimming their 2014 gains to below 15%.

On the other hand, LinkedIn (LNKD) dropped about 5% as the professional social network was snubbed from the S&P 500 despite ample speculation earlier in the week that it would get the bid to join the lineup.

First Published: April 25, 2014: 11:44 AM ET

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Elon Musk's SpaceX will sue U.S. over rocket contract

Musk claims his aerospace company SpaceX was unfairly shut out of a contract for rocket launches he says he can do for less money.

WASHINGTON (CNNMoney)

SpaceX plans to sue the U.S. Air Force to challenge a $7.2 billion contract awarded to a company called United Launch Alliance, Musk said at a news conference on Friday.

The alliance, a venture of Boeing (BA, Fortune 500) and Lockheed Martin (LMT, Fortune 500), is set to use rocket boosters to launch things like GPS satellites into space for the federal government.

The contract, Musk charged, "essentially blocks companies like SpaceX from competing for national security launches."

"This really doesn't seem right to us," added Musk, whose electric car maker Tesla (TSLA) is challenging established auto companies.

The Air Force did not respond to a request for comment.

United Launch Alliance spokeswoman Christa Bell said the contracting process began in 2011. She said the ULA contract was able to deliver $4 billion worth of savings compared to past contracts.

"ULA recognizes the DOD plan to enable competition and is ready and willing to support missions with same assurance that we provide today," Bell said.

Related: Elon Musk's ventures

SpaceX has filed notice that it plans to sue the Air Force, the first step before a federal contract can be challenged. The suit will be filed late Friday or Monday, a spokesman said.

Musk alleged the United Launch Alliance contract is costing taxpayers "billions of dollars, for no reason" because SpaceX could provide launch rockets more inexpensively.

SpaceX has a $1.6 billion contract to launch a dozen unmanned cargo ships to the International Space Station, delivering equipment and supplies.

First Published: April 25, 2014: 3:13 PM ET

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Taco Bell tests new restaurant aimed at Chipotle crowd

A rendering of a U.S. Taco Co. shows an eatery that could compete with chains like Chipotle and Qdoba.

NEW YORK (CNNMoney)

How far is Taco Bell branching out? The Mexican Car Bomb isn't even a taco. It's a vanilla shake with Guinness, tequila caramel sauce and chocolate flakes.

U.S. Taco Co is set to open in Huntington Beach, Calif., this summer, with a taco-focused menu -- but not the same tacos you can buy for a buck or two at Taco Bell.

The "Brotherly Love" will be like eating a Philly cheese steak stuffed inside a flour tortilla. The "Winner Winner" adds a southern twist, with crispy chicken and gravy.

The southern California location is a test-run, but it could be the first of dozens across the country, Taco Bell CEO Greg Creed told the Orange County Register.

The eatery won't offer Mexican restaurant favorites like burritos or tortilla chips, and instead it will sell steak fries with tacos.

Related: Why McDonald's is offering free coffee

U.S. Taco Co. aims to fit in with other "fast-casual" chains like Chipotle, Qdoba Mexican Grill and Panera, said Morningstar analyst R.J. Hottovy.

Those chains offer higher quality food at the same speed as a fast-food joint.

U.S. Taco Co's menu will offer steak fries and milk shakes along with tacos.

It's a growing industry so it makes sense that Taco Bell, owned by Yum! Brands (YUM, Fortune 500), would want to enter the field.

"The cost to operate isn't as high as casual restaurants, but they can still charge higher prices. It's very lucrative," Hottovy said.

The tacos will cost $4 at the new restaurant, while most cost under $2 at the nearly 6,000 Taco Bell locations in the United States.

First Published: April 25, 2014: 4:39 PM ET

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Under Armour scores invite to S&P 500

NEW YORK (CNNMoney)

That puts it in the ranks of the largest largest companies on U.S. stock exchanges -- call it the "varsity league" of stocks.

Under Armour (UA) stock has been on the kind of winning streak that the Yankees would envy. It has skyrocketed 850% over the past half-decade. It will replace Beam (BEAM) in the S&P lineup once the alcohol company's $13.6 billion buyout from Japan's Suntory Holdings is completed next week.

Related: Under Armour's crew of star athletes

But the Baltimore-based company didn't get much of a victory lap. Under Armour shares fell on Friday, which is somewhat unusual since new additions to the S&P 500 typically enjoy a bounce as funds that track the broad benchmark buy shares of the companies in the index.

The problem is the athletic-gear maker is a member of the "momentum crowd", a group of stocks that has quickly gone out of style on Wall Street as investors increasingly shift their money into stocks of more boring, but stable companies.

Under Armour experienced that shift first hand on Thursday, when the company's shares tumbled over 7% despite revealing a 73% leap in profits and indicting a lot of optimism about the rest of the year.

Still, the addition to the S&P 500 highlights the ability of Under Armour in recent years to challenge industry leaders Adidas (ADDDF) and Nike (NKE, Fortune 500), the latter of which was added to the even more exclusive Dow Jones industrial average in 2013.

Under Armour sports strong profit margins and impressive growth overseas, where sales surged 92% in the first quarter from the year before. The company has also boosted sales by expanding into new categories, including hunting and golf.

Earlier this year, Under Armour scored a 10-year deal to become the official sports apparel outfitter of Notre Dame's varsity teams. Terms were not disclosed but the blockbuster deal is estimated to be worth around $100 million.

So far Under Armour has been able to weather the storm stemming from the Winter Olympics, where the U.S. speed-skating team blamed the company's high-tech suits for slowing them down in Sochi. The speed-skating team even extended its exclusive contract with Under Armour.

Shares of Under Armour fell over 1.5% on Friday, trimming their 2014 gains to below 15%.

On the other hand, LinkedIn (LNKD) dropped about 5% as the professional social network was snubbed from the S&P 500 despite ample speculation earlier in the week that it would get the bid to join the lineup.

First Published: April 25, 2014: 11:44 AM ET

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Taco Bell tests new restaurant aimed at Chipotle crowd

A rendering of a U.S. Taco Co. shows an eatery that could compete with chains like Chipotle and Qdoba.

NEW YORK (CNNMoney)

How far is Taco Bell branching out? The Mexican Car Bomb isn't even a taco. It's a vanilla shake with Guinness, tequila caramel sauce and chocolate flakes.

U.S. Taco Co, set to open in Huntington Beach, Calif., this summer, with a taco-focused menu -- but not the same tacos you can buy for a buck or two at Taco Bell.

The "Brotherly Love" will be like eating a Philly cheese steak stuffed inside a flour tortilla. The "Winner Winner" adds a southern twist, with crispy chicken and gravy.

The southern California location is a test-run, but it could be the first of dozens across the country, Taco Bell CEO Greg Creed told the Orange County Register.

The eatery won't offer Mexican restaurant favorites like burritos or tortilla chips, and instead it will sell steak fries with tacos.

Related: Why McDonald's is offering free coffee

U.S. Taco Co. aims to fit in with other "fast-casual" chains like Chipotle, Qdoba Mexican Grill and Panera, said Morningstar analyst R.J. Hottovy.

Those chains offer higher quality food at the same speed as a fast-food joint.

U.S. Taco Co's menu will offer steak fries and milk shakes along with tacos.

It's a growing industry so it makes sense that Taco Bell, owned by Yum! Brands (YUM, Fortune 500), would want to enter the field.

"The cost to operate isn't as high as casual restaurants, but they can still charge higher prices. It's very lucrative," Hottovy said.

The tacos will cost $4 at the new restaurant, while most cost under $2 at the nearly 6,000 Taco Bell locations in the United States.

First Published: April 25, 2014: 4:39 PM ET

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Elon Musk's SpaceX will sue U.S. over rocket contract

Musk claims his aerospace company SpaceX was unfairly shut out of a contract for rocket launches he says he can do for less money.

WASHINGTON (CNNMoney)

SpaceX plans to sue the U.S. Air Force to challenge a $7.2 billion contract awarded to a company called United Launch Alliance, Musk said at a news conference on Friday.

The alliance, a venture of Boeing (BA, Fortune 500) and Lockheed Martin (LMT, Fortune 500), is set to use rocket boosters to launch things like GPS satellites into space for the federal government.

The contract, Musk charged, "essentially blocks companies like SpaceX from competing for national security launches."

"This really doesn't seem right to us," added Musk, whose electric car maker Tesla (TSLA) is challenging established auto companies.

The Air Force did not respond to a request for comment.

United Launch Alliance spokeswoman Christa Bell said the contracting process began in 2011. She said the ULA contract was able to deliver $4 billion worth of savings compared to past contracts.

"ULA recognizes the DOD plan to enable competition and is ready and willing to support missions with same assurance that we provide today," Bell said.

Related: Elon Musk's ventures

SpaceX has filed notice that it plans to sue the Air Force, the first step before a federal contract can be challenged. The suit will be filed late Friday or Monday, a spokesman said.

Musk alleged the United Launch Alliance contract is costing taxpayers "billions of dollars, for no reason" because SpaceX could provide launch rockets more inexpensively.

SpaceX has a $1.6 billion contract to launch a dozen unmanned cargo ships to the International Space Station, delivering equipment and supplies.

First Published: April 25, 2014: 3:13 PM ET

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Ford shares sink after profits drop

Ford posted lower earnings in the first quarter - its first drop since 2012.

NEW YORK (CNNMoney)

The company also fell below expectations set by Wall Street analysts for the first time since 2011. And it repeated its earlier guidance for lower pretax earnings for the year because of the cost of rolling out new models.

Ford (F, Fortune 500) shares, which have been performing much better than rivals General Motors (GM, Fortune 500) and Toyota Motor (TM) this year, were down in premarket trading.

Related: Reports - Ford decides on CEO succession

The company reported narrowly higher revenue and global auto sales. But the profit tumbled 39% to $989 million.

The drop was due to problems in its core North American auto operations, where pretax earnings fell by $892 million. The company partly blamed bad weather for slower sales. It also increased reserves for warranty work on prior year models, including those involved in recalls.

But North America wasn't the only problem; losses also increased in South America. All told, results in North and South America weighed against improved results in Europe, Asia-Pacific and the rest of the world.

First Published: April 25, 2014: 7:52 AM ET

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'Glamping' goes mainstream

NEW YORK (CNNMoney)

"Glamping" -- featuring roomy canvas tents, comfy mattresses and overhead lighting -- has gone mainstream and the businesses behind it are thriving.

It was something of a gamble when Patricia Jensen started ConTENTment Camping six years ago specializing in luxury tent rentals for weddings, private events and festivals. She spent more than $75,000 the first two years to create what she refers to as pop-up hotels -- buying large, custom-made canvas tents, linens, beds, blankets and other furniture.

She quickly discovered that glamping has a universal appeal, particularly to travelers who don't want to assemble a tent or might not even own one.

"I don't think you have to be a certain age to enjoy the outdoors and to appreciate being comfortable," said Jensen, whose business has grown from 20 to 400 tents.

Based in Buffalo, N.Y., ConTENTment leases semi-trailers to move tents and across the country, something Jensen compares to the circus coming to town. Although the full-time staff is just herself and one other employee, her crew can grow into the dozens from May to September when the company is busiest.

The price -- and the experience -- can run the gamut. At Sturgis, the nation's biggest motorcycle rally, a night on a cot in one of Jensen's single-person tents costs just $65.50. Meanwhile at the Indy 500 (which makes its glamping debut this year), a tent with a queen bed will run you $1,100 for four nights.

And it's not just babyboomers with aching backs who want to glamp. At the Firefly Music Festival in Dover, Del., the glamping options sold out within weeks -- before any of the more standard options. And the average age of those glampers is 33. At $999 for four nights and five days, glampers who buy the "premium" package can stay in an air-conditioned tent with a queen bed and access to the glamping lounge and upgraded restroom trailers.

Glamping's popularity has been building during the last four years -- even the Royal Couple spent a night in a lavish tent during a recent trip to Australia. It's helped companies like Davis Tent & Awning in Denver weather the recession.

Though glampers aren't a huge part of their customer base, they're significant because the tents often cost thousands of dollars.

To meet customers' needs, the company offers more luxurious materials, air conditioning vents and additional windows.

Davis Tent even outfitted the San Diego Zoo with 44 canvas tents a few years ago for their Safari Park where people can pay to spend the night.

"It's one of the cooler projects we've done," said co-owner Roy Davis. "Some of my customers who spent thousands and thousands of dollars to go to Africa on safari said they could get kind of the same feeling [in California]."

Jensen's tent rental company isn't the only one enjoying the luxury ride. Outdoors Geek, also based in Denver, started renting standard camping setups in 2010 but quickly found that glamping rentals, particularly for music festivals, had huge potential.

"It will be our number one area of investment this year," said cofounder Will Marquardt. Last summer, Outdoors Geek needed 100 safari-style tents. This year they've added 120. He expects more competition.

"We're just trying to stay in front of it," Marquardt said. "There's a lot to being one of the first ones to the plate."

First Published: April 25, 2014: 6:23 AM ET

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Ford's Alan Mulally will leave with nearly $300 million nest egg

Ford Motor CEO Alan Mulally will leave the company with stock and options with him that today are worth nearly $300 million.

NEW YORK (CNNMoney)

Such a compensation package is unusually large for a CEO at an old-line industrial company with less than a decade on the job. Eye-popping CEO pay is more typically found at tech companies or on Wall Street.

Mulally's Ford holdings are bigger than that of chairman William Ford Jr., the great-grandson of founder Henry Ford.

Mulally, 68, has accumulated 6.2 million shares of company stock, according to government filings.

In addition, he's due to get another 1.8 million shares in coming years, though he's likely to sell about a third of those shares to pay taxes.

And he has 17.7 million stock options to buy shares at reduced prices that he has yet to exercise.

Together, those nearly 25.7 million shares are worth $419 million based on Thursday's closing price for Ford. However Mulally would need to spend almost $130 million to exercise stock options. That leaves him with a net gain of $289 million on his Ford shares at current market value.

Even that may be a conservative estimate. Ford gives valuations for stock options based on assumptions about share prices years in the future. Some of those estimates are far above current values.

Related 12 top paid CEOs

Whatever the gain that Mulally eventually receives on those shares, much of it is due to the strong performance of Ford (F, Fortune 500)shares during Mulally's tenure. Shares fell as low as a $1.39 a share in November 2008, and are now above $16.

Under Mulally's leadership, Ford was able to avoid the bankruptcy and subsequent bailout that wiped out shareholders at General Motor (GM, Fortune 500)and Chrysler Group.

The company shed weaker brands such as Volvo, Land Rover and Mercury, revitalized the lineup at its core Ford brand and conserved enough cash to ride out the recession.

Since then it has come back stronger than ever. Ford earned $7.2 billion in 2013. Profits were healthy enough to pay all the hourly factory workers a record profit-sharing bonus of about $8,800 each.

The company recaptured its position as the No. 2 automaker in terms of U.S. sales from Toyota, behind only GM.

Related: Ousted Yahoo executive gets $58 million golden parachute

During his tenure at Ford, Mulally received a total base salary of $13.5 million, and cash bonuses of $30.8 million. That gave him a total of $44.2 million in cash through the end of last year.

He also sold more than $68 million in stock during the past five years to generate cash needed to pay taxes and exercise stock options.

Mulally will also receive a lump-sum retirement payment equal to four times what Ford has already contributed to his retirement plan.

The company said Mulally's compensation has been in the best interest of shareholders.

"Ford had record profits in North America and Asia Pacific last year, which helped propel the company to one of its best-pre-tax operating profits in its history," said spokeswoman Susan Krusel.

"We believe strongly in aligning executive compensation with the company's business performance and long-term shareholder value. That's why almost 90 percent of Alan's compensation is performance based."

First Published: April 25, 2014: 8:22 AM ET

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Female gun instructors in hot demand

Deb Ferns, Lisa Munson and Kay Miculek, co-founders of Babes with Bullets.

NEW YORK (CNNMoney)

The market for female gun instructors is booming as more women want to learn to shoot -- both for self defense and for sport, said Tina Wilson-Cohen, who owns She Can Shoot, an all-women firearm and self-defense training business in Fairfax, Va.

"When I started training women in 2007, there weren't many female instructors," she said. "Now you're not the only name in town."

The National Rifle Association, noting the burgeoning market opportunity, is trying to boost its ranks of 8,000 NRA-certified female instructors, said spokesman Andrew Arulanandam.

In 2009, the NRA organized 280 "Women On Target" training clinics nationwide, and 8,000 women signed up. In 2013, the group held 450 clinics for 12,000 women.

While Arulanandam said self protection is still the primary reason women take up gun training, he said they're increasingly realizing "that they'd like to pursue it for activities like target shooting or skeet shooting."

Related: For the gun industry, women are next big thing

Alecs Dean offers several NRA-certified courses at his range in Fort Myers, Fla. In the last two years, two-thirds of his clients have been women compared to just a third five years ago.

Since 2012, Dean has offered a 50% discount to women who enroll in his instructor training course.

"We need more women instructors," said Dean. "They bring a perspective that men don't have when it comes to their self defense. It could be something simple like knowing which side a woman typically carries her purse."

And the perspective is appreciated by his male students as well -- many even prefer a female instructor.

But many of the female-oriented shooting groups use a women-training-women model.

"There's no ego involved," said Deb Ferns, a co-founder of Babes with Bullets. "Women instructors demystify the language, they're more patient and more nurturing."

The company, which offers training camps across the country, was started in 2004, but its popularity has recently exploded, said Ferns.

"Since 2011, we started getting so many inquiries that we had to hire someone just to keep up with the demand," she said.

While she's now a competitive shooter, Ferns, 59, didn't pick up a gun until she was 45 and her daughters left for college.

"I wanted to take up something that my husband and I could do together," she said. "I wanted ballroom dancing, he wanted shooting sports."

Now, Babes with Bullets conducts 24 camps a year (a mix of three-day intensives and one-day sessions), and has over 4,000 alumni ranging from 24 to 74 years old. "80% of them have never touched a gun," said Ferns. "They're professional women, real estate agents, nurses and young divorcees."

In many states, the three-day camp (which costs $750) certifies participants for a conceal-carry permit.

Last month, Babes with Bullets held two camps for female oil workers and residents in Minot, N.D., a small town that's seen a surge in its population because of the oil boom. Ferns said 24 women attended the camps.

"When you get a lot of oil money to a tiny town and the population explodes, it also brings with it a sudden increase in crime," said Ferns.

Wilson-Cohen has also seen a huge spike in demand since launching She Can Shoot in 2010.

"I advertised it on social media. Within 24 hours I had 99 inquiries," said Wilson-Cohen, who had spent 22 years in law enforcement. In just four years, her business has ballooned into a franchise in 12 states with 4,000 alumni.

She estimates a 20% increase last year in the number of women who trained with her group.

"More women are financially independent now and they're staying single longer," said Cohen-Wilson. "They're not relying on a man in the house for protection."

First Published: April 24, 2014: 6:02 AM ET

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Stocks: Buoyed by Apple, Facebook (but not GM)

Click on chart to track premarkets

NEW YORK (CNNMoney)

Both Apple (AAPL, Fortune 500) and Facebook (FB, Fortune 500) reported strong quarterly earnings late Wednesday, boosting market sentiment and pushing U.S. stock futures higher Thursday.

Apple shares rallied after the company said it was expanding its stock buyback program and increasing its dividend, while reporting quarterly results that beat expectations.

Apple also revealed a seven-to-one stock split, which will make it easier for individual investors to buy a slice of the tech giant. A single share in Apple currently costs over $500.

Facebook also beat expectations, helped by strong mobile advertising numbers.

Related: Apple shares soar on increased buyback

Thursday is a busy day for earnings reports as well. General Motors (GM, Fortune 500) reported a $1.3 billion charge relating to a massive recall involving faulty ignition switches linked to at least 13 deaths. But excluding that charge and other one-time items, GM's earnings easily topped forecasts. Shares rose 2% in premarket trading.

UPS (UPS, Fortune 500) blamed the snowy weather for weak first quarter results while Caterpillar (CAT, Fortune 500) shares surged nearly 4% in premarket action after reporting earnings that topped forecasts.

Microsoft (MSFT, Fortune 500), Starbucks (SBUX, Fortune 500), Amazon (AMZN, Fortune 500) and Baidu (BIDU) are slated to report after the market closes.

Related: Fear & Greed Index still shows fear

Shares of AstraZenec (AZN)gained after the firm reported better-than-expected earnings. AstraZeneca was in the spotlight earlier this week after it was reported that Pfize h (PFE, Fortune 500)ad considered buying the company for £60 billion ($100 billion). Some think an offer may yet come.

Meanwhile, in Paris, Alstom (ALSMY) shares surged by roughly 12% Thursday following a Bloomberg report that General Electric (GE, Fortune 500) may make a multi-billion dollar bid for the company. The French maker of turbines and trains said it was "not informed" of a takeover offer.

On the economic front, investors are expecting the latest set of initial jobless claims from the U.S. Department of Labor at 8:30 a.m. ET. The Census Bureau will release durable goods orders at the same time.

Related: CNNMoney's Tech 30

European markets were all pushing higher in morning trading, while Asian markets ended with mixed results.

On Wednesday, Wall Street broke its six-day winning streak. All three U.S. indexes ended in the red.

First Published: April 24, 2014: 4:59 AM ET

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GM's $1.3 billion recall cost wipes out profit

NEW YORK (CNNMoney)

The cost of the recall and some other accounting charges left the company with a profit of only $108 million in the quarter.

The company recalled a total of 7 million vehicles during the quarter, most prominently 2.6 million with a faulty ignition switch tied to at least 13 deaths. GM said it would spend about $700 million to fix that ignition switch, and another $600 million on other recalls.

While most of those repairs did not start until this month, the company booked the full cost of the recalls in the first quarter.

Still, the nation's largest automaker will be able to afford the massive recall cost. The earnings, excluding the special charges, were better than expected by Wall Street analysts.

Shares of GM (GM, Fortune 500) are down nearly 16% so far this year, but they rose nearly 3% in premarket trading after the earnings report.

Sales of GM models, even in the United States, have not been hurt by the recall crisis, as revenue increased 1% to $37.4 billion, and the number of vehicles sold rose 2% to 2.4 million. It reported record sales in China, the largest market for car sales where GM sells more vehicles than it does in the United States.

The company ended the quarter with $27 billion in cash and marketable securities on its balance sheet, up 11% from a year ago. It was able to pay its first dividend in five years in the period.

Related: GM - Steps to a recall nightmare

The company had already warned of the charge to deal with a flood of recalls in the period. The company had originally estimated that it would need a $300 million charge to deal with the cost of a recalls. But as the extent of the problem grew larger and larger in the period, it raised its estimated cost to $1.3 billion.

First Published: April 24, 2014: 7:52 AM ET

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MLB takes a swing at the video game business

NEW YORK (CNNMoney)

MLB Advanced Media, the league's digital arm, has released a baseball video game for PlayStation 3, Xbox 360 and Apple mobile devices. The game itself, RBI Baseball '14, is fairly conventional, but its release is not: It marks the first time a major professional sports league has developed its own console game.

"MLBAM has done some games before, but online mobile games," said Samit Sarkar, reporter for the video game news site Polygon. "It's something new for a league to do a bigger console title like this."

For its initial foray into console game development, MLBAM rebooted a classic 1980s Nintendo game.

"We wanted to revive something that was loved and that people would readily know in the market and would want to find in the market, but we didn't want to go back too far," MLBAM CEO Bob Bowman said.

Licensing trademarks to big-game developers like EA Sports and 2K Sports has been lucrative for sports leagues in the past. But aside retaining final say over the games, the leagues generally don't get involved in hands-on development, Sarkar said.

So why is MLBAM taking the risk of doing their own in-house development?

"Our thinking is we could do it, we can do it, why shouldn't we do it?" Bowman said. "And rather than take the sure thing of a license fee, take a little bit more risk certainly on the downside, we spent the money to build the game. Whether it turns out to be a great game, or however it evolves, we have the upside."

Related: Xbox One vs. PS4: Which is best?

Baseball console games are becoming rare. After years of lackluster sales, 2K Sports let their MLB license lapse, which left Sony's MLB the Show as the sole remaining console game.

"Sony does a great job," Bowman said. "That's a great game, but it's a different game. This is a cheap and cheerful game."

Cheap might be the key selling point. RBI Baseball '14 retails for $19.99 for the Xbox and PlayStation versions, while Sony's baseball game costs $40 more. Being a part of MLB saves money on team trademarks, but Bowman said that MLBAM isn't focused initially on turning big profits.

"We play for the long ball," Bowman said. "We don't need to make money this year. We need to create a great product that will grow."

MLBAM says versions of the game for Android, PlayStation 4 and Xbox One will be coming later this spring.

First Published: April 23, 2014: 6:07 AM ET

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Students cry foul over athlete unions

NEW YORK (CNNMoney)

Nearly half of U.S. college students surveyed over the past two weeks said they opposed the idea of student athletes forming unions -- just as a regulatory board ruled that some can do just that.

Even more than half said they believe unionization would accelerate the increasing cost of college for all students.

Fluent, a marketing company that targets college students, surveyed 900 students, most of whom are non-athletes. Less than one-third said they were in favor of college-athlete unionization.

Related: Labor board says Northwestern football players can unionize

"From our conversations with college students, it's clear this issue matters to more than just the student-athlete," said Michael Carey, a vice president at Fluent, in a release.

Many say they fear unionization will create greater inequality between student-athletes and non-athletes on campus, and between athletes who play different sports.

The National Labor Relations Board ruled in March that football players at Northwestern University are employees of the college and have the right to unionize. The football team will vote Friday about whether or not they will form a union. If they do unionize, the college could have to cover the cost of better medical coverage, concussion testing, and possibly even pay for the student-athletes.

Advocates of the change argue that college athletes deserve to be treated like employees because they already receive pay in the form of scholarships, work between 20 and 50 hours per week and generate millions of dollars for their schools.

But not everyone is a fan. The coach of the Northwestern football team and some if its players are against forming a union. And the university has said it will appeal the ruling from the labor board.

First Published: April 23, 2014: 6:15 AM ET

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Grandfather launches smart gun push after Sandy Hook shooting

NEW YORK (CNNMoney)

His 6-year-old grandson, Ben Wheeler, was one of 26 people killed in the December 2012 shooting at Sandy Hook Elementary School in Newtown, Connecticut.

As a way of helping memorialize Ben's brief life, Lobis has launched a crowdfunding campaign to finance an idea he hopes will protect others: a biometric locking station for firearms. The idea is that guns would be stored in a carrier that could only be unlocked by their owner's fingerprint, making it difficult for intruders or children to get hold of them.

Along with business partner Ben Tomb, Lobis hopes to raise $100,000 to build the technology, called Protector XT.

Lobis, who invests in startups, met Tomb by chance following the death of his grandson. Tomb was building out biometric technology aimed at gun safety. He shared the same first name as Lobis's grandson.

"I do believe in divine intervention, and I thought my Benny introduced me to this Ben," said Lobis, who lives in West Chester, Pennsylvania.

The venture became deeply personal for them both. Tomb had lost a family member in a firearm accident, and Lobis, who was grappling with the death of his grandson on a daily basis, was determined to turn the idea into a reality.

"It's really my attempt to memorialize his history," Lobis said. "He was with us 6 years, a great 6 years."

Through technology, Lobis and Tomb want to build safer systems for storing and handling guns. Safe gun tech may sound like an oxymoron, but a number of entrepreneurs are using technology like biometrics to make it more difficult for the wrong person to get hold of a firearm.

Related: Gun safety advocates develop smart weapons

It's also become a Silicon Valley initiative.

In February, prominent tech investors launched the Smart Tech Challenges Foundation to encourage entrepreneurs to build out this type of technology.

"There's thousands of gun accidents a year, and I do think it's high time that the tech industry step in and use innovation to go solve yet another big problem that exists in society," investor Ron Conway told CNNMoney.

"Technology has transformed the way that people communicate with text messaging then email, then all kinds of forms of messaging," added Conway, who is spearheading the challenge along with longtime entrepreneur Jim Pitkow. "Why don't we use that same innovation and ingenuity on gun safety?"

The National Rifle Association, via posts on the website of its lobbying arm, the Institute for Legislative Action, views smart-gun technology with suspicion, fearing it will be co-opted by gun-control advocates.

But there's another big hurdle: money.

It's expensive to build the technology, and entrepreneurs have struggled to take a smart-gun idea to mass market.

The Smart Tech Challenges Foundation will award a total of $1 million to teams with the best proposals for better safeguards. Along with funding, they'll receive resources to bring their idea to life.

Lobis and Tomb have applied for funding. Lobis is first to admit the process isn't easy. He often calls on his grandson's memory for inspiration.

"Some days are tougher than others, I ask him, 'Hey help me out here. I'm doing this for you, and there are some things I'm not sure how to proceed on,' and typically he responds in some way," Lobis said.

Lobis describes his lost grandson as creative and curious with an energy level that was "full on or off."

In other words, traits valuable to any entrepreneur.

"I said Ben is going to create great things," Lobis said, tearing up. "I just thought it would be while he was alive."

First Published: April 23, 2014: 6:05 AM ET

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Tesla to build cars in China

Tesla CEO Elon Musk is hoping to build a production facility in China.

HONG KONG (CNNMoney)

"At some point in the next three or four years we'll be establishing local manufacturing in China," CEO Elon Musk said in Beijing. "China is very important to the future of Tesla."

Musk was in Beijing to mark the first deliveries of Tesla's Model S to customers in China, where the sports car sells for around $115,000.

Electric vehicle sales in the world's second biggest economy have been tepid so far, but many automakers see great potential. The country's middle class is expanding rapidly and is increasingly interested in luxury cars.

China also faces a growing air pollution problem, and the government is working to encourage the adoption of electric cars.

Yet much of China lacks the infrastructure needed to support them.

State media reported that Tesla (TSLA) is ready to help change that, with Musk pledging to launch a nationwide battery charging and service network by 2015.

"We're going to make a big investment in China in terms of charging infrastructure," Musk said.

The automaker has already built a supercharger network in the United States, making it easier for Tesla drivers to travel between major cities.

Related story: Will Tesla's bet on China pay off?

China isn't the only place Tesla wants to build a new factory.

It has plans for a massive U.S. facility that is expected to produce more lithium ion batteries annually by 2020 than were produced worldwide in 2013.

Tesla estimates the new factory will cost $4 billion to $5 billion and employ about 6,500 people. It could be located in either Arizona, Nevada, New Mexico or Texas.

Making more batteries, and reducing their cost, are vital to Tesla's ability to produce a cheaper car in numbers that could catapult the company into the ranks of the major automakers.

First Published: April 22, 2014: 6:14 AM ET

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This startup thrives on a four-day workweek

Ryan Carson, right, with one of his employees in Treehouse's Portland space.

NEW YORK (CNNMoney)

"We ended up working 48 straight hours. I remember catching a few minutes' sleep on the floor," he said.

That experience, all too common at startups, gave him a different idea: What if companies could prevent burnout (and reward their employees) by limiting the number of hours they worked?

So in 2010, he gave it a shot. Treehouse, located in Portland, Ore., develops online courses in website-building, code writing and mobile apps. The firm, which Carson cofounded, has a second office in Orlando, Fla., and about half of its 75 employees work remotely.

While purposefully avoiding San Francisco, Treehouse offers plenty of Silicon-Valley-style perks. The biggest: Every weekend starts on Thursday night.

And that doesn't mean Monday through Thursday are 10-hour days. Carson says they still maintain a normal schedule throughout the week.

Related: Orange buttons boost online sales

It's proven to be a powerful recruiting tool.

"At first, we didn't tell candidates about the four-day week [right away] because we really wanted people who were passionate about our mission of low-cost online education," Carson recalled. "But we started mentioning the short week up front when we realized what an advantage it is in attracting top talent."

One Treehouse developer regularly gets job offers from Facebook and Google, Carson said, but "so far, his answer has always been, 'You guys working a four-day week yet?'"

There are plenty of advantages to the schedule, but it also presents some obvious challenges, which Carson has had to navigate.

"I'm very selective about the projects I take on," he said. "The key is to focus on what you want to get done. Carve out blocks of time where you can concentrate on one thing at a time, and cut out distractions like unnecessary meetings."

Related: 7 hot businesses you can start now

Email is another time suck Carson avoids. Instead, Treehouse staffers use a free service called Hipchat that allows businesses to set up chat rooms. Rather than emailing colleagues or interrupting them mid-project, employees post questions and comments that others respond to "when they get around to it," Carson said. Treehouse also designed an online tool called Flow, where people post daily updates on specific projects.

If a four-day week were easy, everyone would be doing it, and Carson conceded that it does have drawbacks.

"The biggest one is that it's pretty hectic," he said. "There's no downtime. With a four-day week, every hour counts. It can be stressful."

And as a business owner, Carson said, "I get frustrated sometimes, thinking we could do more and grow faster if we had that fifth day."

Even so, he's committed to keeping the four-day week and, financially, Treehouse has done fine without Fridays. Carson said the company was profitable almost immediately, and revenues have tripled to about $10 million in the past three years. Venture capitalists, including big names like Kevin Rose and Reid Hoffman, don't seem at all put off by Treehouse's abbreviated schedule. So far, they've invested $11.5 million.

First Published: April 22, 2014: 6:52 AM ET

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Stocks: Pharma, earnings in the spotlight

Click on chart to track premarkets

NEW YORK (CNNMoney)

Shares in Botox maker Allergan (AGN, Fortune 500) surged nearly 20% in premarket trading after activist investor Bill Ackman and Valeant Pharmaceuticals (VRX) said they were planning a joint bid to buy the company. This is after Allergan gained 6% on Monday.

In Europe, GlaxoSmithKline (GLAXF) and Novartis (NVS) announced a multi-billion dollar deal that will see the firms swap some business units and combine others. Glaxo shares jumped in premarket trading while Novartis shares also rose before the opening bell.

AstraZeneca (AZN) shares slipped in premarket trading, losing their early gains in response to reports that Pfizer (PFE, Fortune 500) had looked at buying the company for £60 billion ($100 billion). Some think an offer may yet come.

"Pfizer... has valid reasons to rekindle this [takeover] approach given the promising drug pipeline at AstraZeneca," said ETX Capital market strategist Ishaq Siddiqi.

Related: Fear & Greed Index still gripped by fear

In the broader market, U.S. stock futures were slightly higher.

Wall Street has a big day of company results. Comcast (CMCSA, Fortune 500) shares rose before the open after the cable provider reported that its quarterly net income and revenue increased in the first quarter from a year earlier. The CEO attributed the gains to the Sochi Olympics, which were broadcast via NBC.

Aerospace company Lockheed Martin (LMT, Fortune 500) also reported a year-over-year gain in quarterly income.

AT&T (T, Fortune 500) and Yum Brands (YUM, Fortune 500) will release earnings after the close.

Shares in Netflix (NFLX) were higher after the company reported earnings that beat expectations. It also said it would increase its monthly fee for new customers in some countries later this quarter.

Shares in soccer club Manchester United (MANU) look set to dip after the company fired coach David Moyes after less than one season.

"The dismissal of Manchester United's manager is getting more attention than the global capital markets, where trillions of dollars are exchanging hands every day," wrote Marc Chandler, strategist for Brown Brothers Harriman, in a market report.

Related: CNNMoney's Tech30

On the economic front, existing home sales numbers from March will come out at 10 a.m. ET.

U.S. stocks drifted higher Monday. The Dow Jones industrial average, the S&P 500 and Nasdaq all ended the day with modest gains.

European markets were rising in midday trading.

Asian markets ended with mixed results, though the moves both up and down were relatively modest.

First Published: April 22, 2014: 5:28 AM ET

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$100,000 income: Three very different tax bills

NEW YORK (CNNMoney)

One that stands out: People making the same money in each of those places can face very different tax bills.

CNNMoney asked the Tax Institute of H&R Block to compare the combined federal, state and local income tax bill on a gross household income of $100,000 in each of the three cities.

For a dual-earner married couple with two young children, the New York City borough of Queens would deliver the biggest tax bite at $8,719. (We had to make some assumptions about the taxpayer's situation; see them below.)

The Queens couple would pay the biggest bill largely because they would be subject to some of the highest state and local income taxes in the country.

By contrast, the same $100,000 couple in Seattle would pay the smallest total income tax bill -- just $3,286 -- because Washington has no state or local income taxes.

Related: Who pays most income taxes? People 45 and up

Queens would also be the priciest place tax-wise for childless singles making $100,000, followed by Topeka then Seattle.

But the order changes a little for everybody if one isolates just the federal tax burden.

In that case, Topeka tops the list. A family of four there could owe $4,066 to Uncle Sam versus $3,076 if they lived in Queens or $3,286 in Seattle.

Here's why: State and city income, sales and property taxes affect a person's federal tax burden because they are deductible on the federal income tax return. So the lower those taxes are, the smaller the federal tax deduction and the bigger a person's federal tax bill.

Home prices, too, play a role since they determine how big a mortgage one needs and how large one's federal mortgage interest deduction will be.

A key reason why Topeka takes the No. 1 spot among the three cities in terms of the federal income tax burden is because residents there are likely to pay less in mortgage interest and property taxes than they would in either Queens or Seattle.

This story is part of a CNNMoney series exploring Americans' real tax burden. We'd love to hear how you feel about yours at #YourEconomy.

First Published: April 21, 2014: 6:58 AM ET

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Many recalled GM cars won't be repaired

Many of the recalled GM cars will never get repaired according to experts.

NEW YORK (CNNMoney)

That's because roughly a third of all vehicles recalled by automakers are never brought to dealers.

Experts say there are many reasons that people don't take advantage of free repairs for their cars. Many people believe the notices are junk mail solicitations from the automakers. Others minimize the safety risk, having never seen the problem prompting the recall. Still others can't give up their car for the time it takes to make a repair.

And there are two reasons that suggest more owners than average won't get the repairs done in this recall. Older model cars -- such as the ones involved -- are likely to have had multiple owners, making it more difficult for automakers to track down the current owners. And when the dealer or brand has gone out of business, as is the case with the Pontiac and Saturn cars, owners are sometimes not aware that they can go to any GM dealership.

GM says it gets more of its recalled cars to the shop than the industry-wide average. Spokesman Alan Adler said 80% of recalled GM vehicles are repaired within a year, and 85% are fixed within two years.

Related: GM - Steps to a recall nightmare

But even with higher fix rates, there will be a significant number of cars on the road with an ignition switch that can shut off and cause the airbag, power steering and anti-lock brakes to fail.

"You can't look at the percentages, you have to look at total number of vehicles," said Chris Basso, a spokesman of CarFax, the service that tracks accidents and repairs done to cars. "If they get to 90%, that would be great, but that would still leave more than 250,000 on the road."

The publicity in this case might not be enough to get a higher completion rate. In one of the most famous recalls in history -- the Ford Pinto that was at risk of an exploding gas tank -- only 52% of cars were brought in for the free repair, according to Clarence Ditlow, executive director of the Center for Auto Safety.

"That was the completion rate on a defect that everyone knew was horrible, so I doubt you'll get more than 52% on this one," he said.

Related: The car GM never wanted to build

The problem is not limited to GM or to this recall, Basso said. CarFax has done analysis that shows 36 million cars now on the road, or roughly one in seven, are subject to a safety-related recall but have never been repaired. CarFax has a free service at recall.carfax.com that allows owners to plug in their VIN number to see if there are any unaddressed recalls on their cars.

Ditlow said there is more that can be done to get the recalled cars in for repairs, including not letting a car pass state inspection or even be registered for a new year if there is an open recall. At the minimum, he says no car should be able to be sold without a recall being addressed.

"There's a lot of ways we can do better," he said.

Related: Cool cars from NY auto show

But there are few laws that require owners to bring a car in for a recall and none that require a car seller, even a dealership, to disclose or comply with a recall.

CarFax estimates that 3.5 million online car sale listings in 2013 were for vehicles with unaddressed recalls in place. At the very least, used car buyers should be checking for recalls before they buy, said Basso.

"Everybody needs to take responsibility to look for open recalls and then fix them," he said. "In almost every case, it's free to get them fixed."

First Published: April 21, 2014: 6:55 AM ET

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