It is a common thought in the worlds of business and engineering that success can create greatness, and that is a reason why Hybrid retains quality engineers like Ron “Hollywood” Cervin. The work and ideas of Cervin and other engineers at Hybrid are leading a revolution that will change the way the world views electric vehicles. The effort of Cervin and others will help change the landscape of all the vehicles on the road and help to save the environment one car at a time.

Ron Cervin has always expressed an interest in automobiles. He got his start in the aerospace industry, working on projects such as space shuttles, F-14 fighters, T-46 trainers, A-10 aircraft, B2 bomber, and the Stealth fighter, but soon decided to pursue his true passion, automobiles. Before making the switch, Ron facilitated revisions to designs and blueprints on aircraft as well as machining

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Initial Claims for the week ending Dec. 20 increased to a 26-year high, by 30,000 to 586,000 from the upwardly revised figure of 556,000 (+1,000) from last week, a 3.7% surprise from the 565,000 estimate.  This is the 7th consecutive week unemployment filings surpassed the half million mark.  Last year, only 353,000 initial claims filings were made, which is over 200,000 higher in recent weeks as a consequent of the lingering recession.  In the past week, ending December 13th, initial claims decreased as a result of fewer filings in North Carolina, California, Pennsylvania, and Georgia, all decreased by more than 10,000, following a spike in filings in those states the prior week (increased fillings by more than 20,000), from fewer layoffs in textile, furniture, lumber wood, fabricated metals, transportation, service, manufacturing, and construction industries.  The 4-week moving average was 558,000, an increase of 13,750 from the previous week's

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Best Buy Profit Falls 77%; Goldman Sachs Posts $2.12 Billion Loss; New Permits and Starts at Record Low; Brazil Retail Rises 10.1%; Berkshire Buys NC Real Estate Brokerage; Crude Slides in Spite of OPEC

Profit at electronics retailer Best Buy Co. (BBY) fell 77% during the company’s fiscal third quarter ended Nov. 29. The company said it would offer buyout packages to nearly all corporate employees to save on costs as it trudges through a dismal holiday shopping season, the Associated Press reported. Goldman Sachs Group Inc. (GS) reported a $2.12 billion, or $4.97 a share, loss for its fiscal fourth quarter, Bloomberg reported. “Our results for the fourth quarter reflect extraordinarily difficult operating conditions, including a sharp decline in ...

Friday December 12, 2008 Navivest

With the closure of two more banks by banking regulators Friday evening, the number of banks that have failed so far this year in the U.S., now totals 25.

While that does not sound like a lot especially considering that there are over 8,500 fedrally insured banks and thrifts operating in the U.S., there were just three bank failures last year and four in 2006.

Friday evening, Texas Department of Banking closed Sanderson State Bank in Sanderson Texas and Haven Trust Bank in Duluth Georgia was shuttered by the Georgia Department of Banking and Finance.

Upon the closure, The Federal Deposit Insurance Corporation or FDIC, was appointed receiver of both banks.

The size of the banks was relatively small, with Haven Trust having assets of $572 million and deposits of $515 million as of Dec. 8, while Sanderson State had assets of $37 million and deposits of $27.9 million

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Thought we might get through one day without another major company announcing a significant, economy-crippling number of layoffs? Wrong! After the bell, Charlotte, NC-based Bank of America, or BofA (BAC) announced it will be taking the hacksaw to its employment numbers -- 30,000 to 35,000 jobs will be lost over the next 3 years to the soon-to-be-largest U.S. bank in terms of assets, once it has brought investment bank Merrill Lynch & Co. (MER) into the fold.Of course, a merger as massive as BofA's annexing of Merrill Lynch was bound to create many synergies and make lots of jobs expendable. Even still, in a week where companies such as Sony Corp. (SNE) and Rio Tinto, Plc (RTP) have announced are ridding themselves of many thousands of jobs, BofA's news takes the cake. Then again, it's still only Thursday.Bank of America's earnings ...

Thought we might get through one day without another major company announcing a significant, economy-crippling number of layoffs? Wrong! After the bell, Charlotte, NC-based Bank of America, or BofA (BAC) announced it will be taking the hacksaw to its employment numbers -- 30,000 to 35,000 jobs will be lost over the next 3 years to the soon-to-be-largest U.S. bank in terms of assets, once it has brought investment bank Merrill Lynch & Co. (MER) into the fold.Of course, a merger as massive as BofA's annexing of Merrill Lynch was bound to create many synergies and make lots of jobs expendable. Even still, in a week where companies such as Sony Corp. (SNE) and Rio Tinto, Plc (RTP) have announced are ridding themselves of many thousands of jobs, BofA's news takes the cake. Then again, it's still only Thursday.Bank of America's earnings ...

With the U.S. “Big Three” of General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. seeking as much as $34 billion in bailout money, there’s a lot at stake for the American auto industry. There would also be quite a bit at stake for Congress, given the personal stakes that elected officials own in the automakers, FoxBusiness.com reports.

According to published reports, 25 members of the U.S. Congress have reported on their financial disclosure forms that they own stock in – or have other capital interests in – the Big Three, based on data compiled from the Center for Responsive Politics, a Washington, D.C., research group that tracks money in U.S. politics. [Editor’s Note: Fox News senior information specialist James Farrell pulled the data displayed in the accompanying

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Bank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal is finalized.

PNC Financial Services Group Inc. (PNC), which will get $7.7 billion from Treasury’s Troubled Assets Relief Program (TARP), is using that cash infusion to help finance its $5.2 billion buyout of embattled National City Corp. (NCC).

And U.S. Bancorp (USB), which received a $6.6 billion capital infusion from that same rescue package, has acquired two California lenders – Downey Savings & Loan Association, F.A., a subsidiary of Downey Financial Corp. (DSL), and PFF Bank & Trust, a subsidiary of PFF Bancorp Inc. (OTC: PFFB). U.S. Bank

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The United States housing market, which has been the main cause of the financial crisis, remains in the doldrums.

Figures released in the US last night show that the S&P/Case-Shiller Home Price Index, which is the most widely used measure of house prices, declined by a further 1.8% in September.

The index, which measures prices in 20 large cities, was down 17.4% on a year on year basis and 21.8% from its July 2006 peak.

Housing markets throughout the US are very mixed with conditions in Southern California, Nevada and Florida particularly depressed while markets in Texas and a number of the northern states are holding up.

The worst performing markets over the past twelve months, in terms of prices, have been:

Phoenix, Arizona -31.9% Las Vegas, Nevada -31.3% San Francisco, California -29.5% Miami, Florida -28.4% Los Angeles, California -27.6%

The best have been:

Dallas, Texas -2.7%

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The Department of Labor reported Initial Claims for the week ending Nov. 15th were 542,000, an increase of 27,000 from the previous week's revised figure of 515,000 (originally reported at 516,000). This is the highest level since July of 1992.  The consensus was 517,000, which brought today's report at a 4.85% surprise.  California had an increase of 15,532 but declined to provide comment.  North Carolina, Tennessee, New Jersey, New York, and South Carolina all reported a significant increase in filings, a combined 23,443, cited from layoffs in primary metals, furniture, transportation equipment, industrial machinery, construction, service, and manufacturing industries.  The 4-week moving average was 506,500, the highest in 25 years, an increase of 15,750 from the previous week's revised average of 490,750 (which was a 17 year high).  Less than half of unemployed workers do file for unemployment benefits, while there has been much contraction in economic activity recently

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