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For $65 million, you can buy Miami's most expensive home

Written By limadu on Minggu, 19 Oktober 2014 | 05.32

miami house exterior Miami's most expensive home for sale has a graceful, Mediterranean style.

NEW YORK (CNNMoney)

Called La Brisa (The Breeze), the Coconut Grove compound sits on 6.9 acres, with more than 200 feet of waterfront property along Biscayne Bay.

The nine-bedroom Mediterranean-style home, which was first built in the 1920s, has undergone a major facelift. It last sold in an estate sale six years ago for $11.5 million.

Related: Mansions for under $1 million

"The [current] seller, an architect, did everything he could to restore it to its original state," said Coldwell Banker agent William Pierce.

The result? Nearly 17,000 square feet of completely renovated and restored living and outdoor space that includes original woodwork, restored windows and natural woods like Brazilian, teak and pine.

miami house interior The seller tried to keep as much original detail as possible.

There's also Spanish tile roofs, balconies, walkways and patios galore, with almost every interior space opening up to the outside or providing views of the water.

A 500-foot canal borders the north end of the property and includes a docking slip that can accommodate a 70 foot yacht. The manicured grounds are filled with 100-year-old trees, tropical vines and a large lawn. There's also a shaded, spring fed pond.

miami house spring The Munroe spring is named for an early owner.

A large, coral stone patio with a fire pit and sitting areas shaded by tall palm trees surrounds a large pool. There's enough room to entertain a couple hundred guests for outdoor parties.

miami house pool The cool pool catches Bay breezes.

Where the seller didn't attempt to return the house to an earlier time were the kitchen and baths, both of which are modern and sleek.

miami house kitchen Walk through the arched kitchen doorways right onto the patio.

As for the rest of the property?

"It's like traveling back in time," said Pierce.

First Published: October 17, 2014: 5:21 PM ET


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Moody's downgrades Russia's debt

NEW YORK (CNNMoney)

Moody's downgraded the country's debt by one notch Friday, citing the ongoing conflict in Ukraine, capital flight and falling oil prices. The debt rating is now Baa2, just two notches above "junk" status.

Ongoing tensions with Ukraine led to international sanctions against Russia earlier this year. That has reduced foreign investment and further slowed economic growth, spurring inflation and higher interest rates.

Related: Ruble's headlong plunge shows Russia hurting

"The longer the conflict in Ukraine and sanctions against Russia last, the more significant will be the damage to investors' confidence in Russia as a source of profitable investment opportunities," the agency said in a statement.

A recent slide in oil prices isn't helping things, either. The commodity is down nearly 12.5% in the last month.

The country relies heavily on oil to bankroll its budget -- over half of the government's 2012 revenues came from oil and gas, according to the latest data from the U.S. Energy Information Administration.

Related: Crashing oil prices could crush Vladimir Putin

The ratings agency said the debt's outlook would remain negative, and it is also considering a separate downgrade of Russia's sovereign credit rating if its economy continues to slow.

Standard & Poor's issued its own sovereign downgrade in April, to just a single step above junk.

The World Bank forecasts anemic Russian economic growth of just 0.5% in 2014 and 0.3% in 2015. A more pessimistic scenario foresees the Russian economy slipping into recession this year and contracting further in 2015 and 2016.

First Published: October 17, 2014: 6:47 PM ET


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Audi driverless car to hit 150 mph

NEW YORK (CNNMoney)

The RS7 Piloted Driving Concept will attempt to lap the Hockenheimring racetrack in Germany at high speeds on Sunday using only computers and sensors to guide it.

Audi and other automakers have previously shown off automated driving technologies, but those systems have operated at normal road speeds. Operating at high speeds presents a different set of challenges.

There will be no other cars on the track at the time, but the car will be operating close to the limits of its own performance capabilities. It will have to round corners as quickly as possible without skidding or driving off the track, and it will have to find the best possible path through each curve.

To do that, the car will use an ultra-precise positioning system that will allow it to know its own exact location on the track moment by moment.

Photos - Best cars for billionaires

The ability to turn in the best possible lap time on a track is more than just a fun trick, according to Audi. It has important implications for safety.

"We have to be able to manage extreme situations and that's what we are demonstrating here," said Ulrich Hackenberg, board member for technical development at Audi.

When operating without a driver on real roads, a car may have to respond to emergencies in ways that require high-speed maneuvering. That will require precise sensors, fast computers and complex, flexible programming.

Audi was the first automaker to receive a license for autonomous driving from the state of California. The Audi RS7 has a 560-horsepower engine and a top speed of nearly 190 miles per hour.

First Published: October 17, 2014: 8:27 PM ET


05.32 | 0 komentar | Read More

For $65 million, you can buy Miami's most expensive home

Written By limadu on Sabtu, 18 Oktober 2014 | 05.32

miami house exterior Miami's most expensive home for sale has a graceful, Mediterranean style.

NEW YORK (CNNMoney)

Called La Brisa (The Breeze), the Coconut Grove compound sits on 6.9 acres, with more than 200 feet of waterfront property along Biscayne Bay.

The nine-bedroom Mediterranean-style home, which was first built in the 1920s, has undergone a major facelift. It last sold in an estate sale six years ago for $11.5 million.

Related: Mansions for under $1 million

"The [current] seller, an architect, did everything he could to restore it to its original state," said Coldwell Banker agent William Pierce.

The result? Nearly 17,000 square feet of completely renovated and restored living and outdoor space that includes original woodwork, restored windows and natural woods like Brazilian, teak and pine.

miami house interior The seller tried to keep as much original detail as possible.

There's also Spanish tile roofs, balconies, walkways and patios galore, with almost every interior space opening up to the outside or providing views of the water.

A 500-foot canal borders the north end of the property and includes a docking slip that can accommodate a 70 foot yacht. The manicured grounds are filled with 100-year-old trees, tropical vines and a large lawn. There's also a shaded, spring fed pond.

miami house spring The Munroe spring is named for an early owner.

A large, coral stone patio with a fire pit and sitting areas shaded by tall palm trees surrounds a large pool. There's enough room to entertain a couple hundred guests for outdoor parties.

miami house pool The cool pool catches Bay breezes.

Where the seller didn't attempt to return the house to an earlier time were the kitchen and baths, both of which are modern and sleek.

miami house kitchen Walk through the arched kitchen doorways right onto the patio.

As for the rest of the property?

"It's like traveling back in time," said Pierce.

First Published: October 17, 2014: 5:21 PM ET


05.32 | 0 komentar | Read More

Moody's downgrades Russia's debt

NEW YORK (CNNMoney)

Moody's downgraded the country's debt by one notch Friday, citing the ongoing conflict in Ukraine, capital flight and falling oil prices. The debt rating is now Baa2, just two notches above "junk" status.

Ongoing tensions with Ukraine led to international sanctions against Russia earlier this year. That has reduced foreign investment and further slowed economic growth, spurring inflation and higher interest rates.

Related: Ruble's headlong plunge shows Russia hurting

"The longer the conflict in Ukraine and sanctions against Russia last, the more significant will be the damage to investors' confidence in Russia as a source of profitable investment opportunities," the agency said in a statement.

A recent slide in oil prices isn't helping things, either. The commodity is down nearly 12.5% in the last month.

The country relies heavily on oil to bankroll its budget -- over half of the government's 2012 revenues came from oil and gas, according to the latest data from the U.S. Energy Information Administration.

Related: Crashing oil prices could crush Vladimir Putin

The ratings agency said the debt's outlook would remain negative, and it is also considering a separate downgrade of Russia's sovereign credit rating if its economy continues to slow.

Standard & Poor's issued its own sovereign downgrade in April, to just a single step above junk.

The World Bank forecasts anemic Russian economic growth of just 0.5% in 2014 and 0.3% in 2015. A more pessimistic scenario foresees the Russian economy slipping into recession this year and contracting further in 2015 and 2016.

First Published: October 17, 2014: 6:47 PM ET


05.32 | 0 komentar | Read More

Audi driverless car to hit 150 mph

NEW YORK (CNNMoney)

The RS7 Piloted Driving Concept will attempt to lap the Hockenheimring racetrack in Germany at high speeds on Sunday using only computers and sensors to guide it.

Audi and other automakers have previously shown off automated driving technologies, but those systems have operated at normal road speeds. Operating at high speeds presents a different set of challenges.

There will be no other cars on the track at the time, but the car will be operating close to the limits of its own performance capabilities. It will have to round corners as quickly as possible without skidding or driving off the track, and it will have to find the best possible path through each curve.

To do that, the car will use an ultra-precise positioning system that will allow it to know its own exact location on the track moment by moment.

Photos - Best cars for billionaires

The ability to turn in the best possible lap time on a track is more than just a fun trick, according to Audi. It has important implications for safety.

"We have to be able to manage extreme situations and that's what we are demonstrating here," said Ulrich Hackenberg, board member for technical development at Audi.

When operating without a driver on real roads, a car may have to respond to emergencies in ways that require high-speed maneuvering. That will require precise sensors, fast computers and complex, flexible programming.

Audi was the first automaker to receive a license for autonomous driving from the state of California. The Audi RS7 has a 560-horsepower engine and a top speed of nearly 190 miles per hour.

First Published: October 17, 2014: 8:27 PM ET


05.32 | 0 komentar | Read More

Employers measure workers' waistlines

Written By limadu on Jumat, 17 Oktober 2014 | 05.32

NEW YORK (CNNMoney)

Companies are going beyond just handing out pedometers and offering Weight Watchers. Now more are measuring waist sizes, recording body fat levels and penalizing those who carry around too many extra pounds.

Wellness programs have been around for years, but they are evolving. Companies are doing more biometric screenings, where they measure metrics such as waist circumferences, cholesterol, glucose (sugar levels) and blood pressure, using independent third-party vendors to protect confidential employee data.

The latest trend is to offer rewards -- and penalties -- for workers who are at risk to take action.

"The hardest [metric] to move the dial on is weight," said LuAnn Heinen, vice president at the National Business Group on Health, which found that increasing employees' physical activity and managing their weight are large employers' top health priorities for 2015. "They are shifting to more outcome- and goal-based incentives."

Employers want trimmer workers: Weight is the main concern for many employers since so many Americans are too heavy. Nearly 7 in 10 adults are overweight, and more than one-third are obese, according to federal health statistics.

Share your story: Are your health care deductibles going up?

Obesity is also a risk factor for many expensive illnesses, including diabetes and heart disease. And unlike high cholesterol and blood pressure, it's easy to see.

"Employers know...it's not hidden. You don't have to screen employees. You just have to look at them," said Soeren Mattke, senior scientist at Rand, which looked at employee wellness programs last year.

Related: 5 ways you pay more for health insurance

The number of firms using biometric measures is still relatively small, but more are adopting them, Heinen said. This is particularly true among larger employers.

employee wellness programs bike A JetBlue employee pedals a bike to power a blender that's making a healthy smoothie.

JetBlue aims high: JetBlue Airways (JBLU) has revamped its wellness program in recent years, adding one-on-one coaching by benefits specialists or registered nurses in 2013 and testing a biometric measuring program this year.

Employees can earn up to $400 in rewards in their health savings account for partaking in certain activities, such as purchasing or owning home exercise equipment, working in a physically demanding job and participating in a healthy cooking class.

Signing up for coaching nets employees $50, but they earn another $200 for finishing it. Workers in the test program can earn up to $500 if they submit weekly weight, blood pressure and waist measurements and if their health improves based on their final biometric reading.

The programs are pretty popular with employees. Some 74% participate in the rewards program and 46% in the coaching initiative, said Kristen Brown, benefits director at the airline. And 76% of the people in the biometric program completed the six-month trial, which also involved counseling. Participants in this trial group were able to lower their risk factors, she said.

Related: How iPhone apps could impact your insurance

While JetBlue is using the carrot approach, others are employing more of the stick.

Penalizing workers who don't participate: Lafarge U.S. offers a voluntary health screening and coaching program. Those who participated this year got rewarded, but those who didn't were limited in their choice of company-sponsored health insurance plans.

Employees at the construction materials supplier can get free individual coaching with Cleveland Clinic specialists. They email their coach what they've eaten and how many steps they've taken, among other things, several times a week.

Everyone who undergoes the screening got a $75 gift card. But those who had at least three risk factors and didn't partake in coaching could not sign up for the company's gold-level insurance plan, which has no deductible and lower out-of-pocket costs. Workers who didn't get evaluated at all could only choose a bronze plan that comes with a $2,750 deductible.

"Our expectation is that Lafarge and employees and dependents are both accountable for health," said Philia Swam, director of health, wellness and group benefits.

(Federal anti-discrimination regulations require that companies allow employees to qualify for rewards or avoid penalties under an alternative standard. For instance, those with certain medical conditions can get a doctor's note that allows them to get the incentives despite having risk factors or not meeting certain goals.)

Related: What does your employer know about your health?

Does it work? Just how effective of wellness programs are -- both in shedding pounds or in saving money for companies -- remains in debate. Only 10% of employees participated in weight management and 21% in fitness programs, according to the Rand study. And only 2% of employers reported actual savings estimates.

At Lafarge, some 97% get screened, but only 19% participate in the health care coaching program, Swam said. But the company is seeing results, she said. The number of employee hospitalizations has declined, while the number of preventative health care visits and tests, such as mammograms and colorectal cancer screenings, is up.

JetBlue, meanwhile, is trying to focus on workers who have risk factors but are not yet sick, Brown said.

First Published: October 17, 2014: 7:59 AM ET


05.32 | 0 komentar | Read More

Can you protect yourself from a market crash?

market protection nyse bull Some funds claim to guard against a market downturn.

NEW YORK (CNNMoney)

There's no easy answer.

While there are a number of financial strategies designed to kick butt when the broader market tanks, they quickly become counterproductive to your portfolio once stocks rebound.

Related: This is not another financial crisis

Still, in a week of gut wrenching swings in the market, some investors will sleep better at night knowing that they have at least some protection.

Here's a primer on the "hedging products" available to ordinary investors:

Inverse Exchange Traded Funds: Whatever direction the market is running, so-called "inverse ETFs" bolt in the opposite direction. Often times, these ETFs move faster than the market itself. The ProShares UltraShort S&P500 (SDS) ETF, for example, seeks returns that correspondent with two times the inverse of of the S&P 500. In other words, if the market drops 1%, it's supposed to gain 2%.

It delivered on that goal recently. While the S&P 500 is down 5.5% this month, the ETF has soared 11%. The ProShares UltraPro Short S&P500 (SPXU), its more risky cousin built to move three times the opposite direction of the market, has jumped 17%.

As enticing as those returns sound, it's important to remember that they got hammered during stocks big run earlier in the year. In fact, they're still down roughly 20% and 30%, respectively, in 2014.

Related: What the heck should the Fed do now?

"It's a high risk strategy," said Jack Rivkin, Chief Investment Officer at Altegris Advisors, an alternative investment firm based out of La Jolla, California. "It's nice to have during a sharp down move, but you have to get out quick because during the bounce back you're going to give it all back."

Liquid alternatives mutual funds: Rivkin instead likes liquid alternative mutual funds, which act like traditional mutual funds except for the fact that they can bet on or against certain stocks or bonds. They also use leverage, or borrowed money, to amplify returns.

Such investments have exploded in popularity during the financial crisis as investors seek a sort of insurance policy against the ups and downs of the market.

"When you're getting into volatility, this is what its all about," said Rivkin.

But a lot of these funds have performed poorly in recent years in the roaring bull market. And it's still too early to tell if they will deliver good performance as the market goes south.

Plus the fees don't come cheap. The average expense ratio for a liquid alternative fund is about 1.8%, but some go as high as 2.5%, according to Josh Charlson, director of alternatives strategy for Morningstar. That's compared to 1.31% for the average stock-focused mutual fund and 0.97% for the average bond fund.

But Rivkin insists the costs are worth it. "You have an operation that needs to be done, are you going to look for the cheapest doctor." he said.

Bottom line: there are plenty of products out there claiming to protect investors from a market crash, but buyers need to be extremely careful. By the time you actually invest, the market may just be on its way back up.

First Published: October 17, 2014: 8:01 AM ET


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Coming soon: Call Starbucks, and have your latte waiting

starbucks phone orders Starbucks customers will soon be able to have their orders waiting for them by pre-ordering on their smartphones.

NEW YORK (CNNMoney)

The service, aimed at attracting customers who are put off by the lines during the morning rush, will debut in the Portland market later this year and be rolled out to stores nationally in 2015, the company announced Thursday.

Related: Starbucks workers gets raises, new dress code and a snack

The announcement comes about a week after Square, which makes mobile payment technology, unveiled an app that also allows users to order coffee using their phone so that it's ready and paid for when customers arrive. But for now, it only works at a few coffee shops in New York and San Francisco.

Starbucks (SBUX) already has a smartphone app which allows customers to make mobile payments, including tipping their baristas. Starbucks said it will also enhance its loyalty program and rewards for customers using the app.

There is growing demand for online payment options by consumers. Mobile payments are likely to reach $3.5 billion this year, according to research firm eMarketer, and is forecast to soar to $118 billion annually within four years. Apple (AAPL, Tech30) is set to start its own mobile payment system, Apple Pay, on Monday.

First Published: October 17, 2014: 8:18 AM ET


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Tesla shares take a couple of hits

Written By limadu on Kamis, 16 Oktober 2014 | 05.32

tsla Click on chart for more data on Tesla shares.

NEW YORK (CNNMoney)

Shares of Tesla (TSLA), which have risen more than 50% this year through Wednesday's close, were down about 5% in premarket trading.

Tesla does not currently have a store or showroom in Michigan, making the home turf of rivals General Motors (GM), Ford Motor (F) and Chrysler Group (FCAU) the largest state in which it does not have an outlet.

Tesla has repeatedly argued it needs to be able to sell cars directly to consumers in order to explain the advantages of electric cars. But the National Automobile Dealers Association and various state dealer groups have fought those company-owned stores, arguing that independently owned dealerships provide a level of protection for car buyers.

The Michigan state legislature overwhelmingly passed the change in the law with little debate or public comment on Oct. 2. But language prohibiting automakers from owning a dealership was quietly inserted as it moved though the process. The news of that provision broke Monday as the bill sat on Gov. Rick Snyder's desk awaiting action.

Neither Snyder's office nor Tesla had an immediate comment on the measure.

Related: Elon Musk's $2 billion Tesla tweet

Also putting downward pressure on Tesla stock is a note from Morgan Stanley analyst Adam Jonas speculating that the Model X crossover vehicle, now due out in the second quarter of 2015, is unlikely to be available until the third quarter. Jonas said Tesla's announcement last week that it is now offering all-wheel drive on the Model S suggests it might want to wait to introduce the Model X, which also has all-wheel drive.

Jonas says Tesla was sticking with the second-quarter launch target for the Model X as recently as a month ago. He remains bullish on Tesla shares and suggested investors consider buying on the current dip.

But his reputation as a fan of Tesla has meant when he's expressed any caution about Tesla shares, it has sparked sell-offs in the stock.

First Published: October 16, 2014: 8:09 AM ET


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