Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Why does this Mercedes cost $500,000?

2011 Maybach 62 S
 The Maybach isn't the most expensive car in the world, but it is the highest-price line of autos made by Mercedes-Benz. The 62S model of the Maybach — the automaker's answer to the Rolls-Royce and Bentley — costs 8 million Hong Kong dollars (about US$1 million). And that's without extras.But the biggest reason for its high price is the Hong Kong luxury tax, about 50% in this Chinese territory. In the U.S., the car costs about $459,000. Even so, we found that as luxury cars go, the Maybach doesn't offer much beyond what other cars in this category offer, save for a couple of features.

2011 Maybach 62 S

The Maybach received a facelift last year, and small changes were made to the exterior, including a larger chrome-radiator grille in front, more aerodynamic mirrors, new wheels — with 12-spoke 20-inch alloy hubcaps painted in a sterling silver color for the Maybach 52S and 62S — and daytime LED driving headlights (daytime driving lights are mandatory on cars sold in the European Union; but experts disagree on whether they cut down on the rate of traffic fatalities). Of all the Maybach models available in Hong Kong, the 62S has the most powerful engine. Oh, and the “S” stands for “special.”

The 62S was a popular Christmas gift among Hong Kongers, according to the dealership, and all 60 of its available models sold out in eight months. Now, there is an eight-month waiting list for the car.

At the Maybach dealership in Hong Kong — a decked-out space with a terrace overlooking Repulse Bay and an open bar — senior manager Karin Hoo explains why the car costs seven figures.

More colors: Buyers can choose from 18 different exterior colors, including the newest Maybach “New Bahamas Blue” (a dark sky blue). That’s four more than the standard number offered in Mercedes Benz models. Of course, as with all luxury cars, the Maybach can be painted any color under the rainbow for an extra fee.
2011 Maybach 62 S
Sheepskin interiors: High-grade nappa-leather interiors are standard and each seat is upholstered with a single piece of uncut hide. Buyers choose between two colors: black or white.

Back-seat recliner: Most Maybach owners rarely sit in the front seat of their car; they have chauffeurs. Fashioned after first-class airplane seating, the Maybach back seat reclines to a nearly flat position and comes with a leg rest and tray table on the side “That’s why they call the Maybach a ‘jet on wheels,’” Ms. Hoo says. The back seat has 84.5 centimeters of legroom.

Perfume atomizer: Forget about those paper air fresheners that hang on the rearview mirror. Each Maybach 62S is fitted with a perfume atomizer — built into the air-conditioning vent. That’s guaranteed not to stain the fine leather interior or your (no doubt) bespoke or haute couture clothing, of course. Swiss flavor and scent manufacturer Givaudan custom-blended two scents just for the Maybach: a citrus-y green tea and more-masculine agarwood.

An extra meter: Most Mercedes S-series models are roughly five meters long; the Maybach 62S — as its name denotes — is 6.2 meters. “We name the car in the same way boats are named after their length,” Ms. Hoo says.

A glass roof: With the press of a button, the glass roof changes from opaque to clear to let in more light (it’s made from a liquid-crystal membrane of conductive polymer plastic, and an electric current in the crystals changes the view). Another button triggers a cover to close over the glass roof completely.

Lighting: Turn on the side LED lights, along the edge of the window, for softer interior lighting. “The idea is to have just the right ambience the owner prefers,” Ms. Hoo says.

Engine: With a 12-cylinder, 630-horsepower engine, the Maybach 62S can hit 100 kilometers an hour in just five seconds (that’s a second faster than most luxury sports cars). It can hit a maximum speed of 250 kilometers an hour. The Maybach name, in fact, comes from engineer Wilhelm Maybach, who designed the engines of the first Mercedes.
Entertainment system: Two 9.5-inch flat-screen monitors are installed in the back of the front seats. The monitors can play DVDs or connect to the Internet through the car’s built-in WLAN wireless connection. Sound is surround: 21 speakers, designed by Bose, are strategically placed throughout the car for what Ms. Hoo calls “concert-hall quality.” And everything is controlled via a center console with a remote control in the back and front seats.

Customizable add-ons: “Each Maybach is meant to be bespoke, and personalized to the customer’s own preferences,” Ms. Hoo says. Ask and you shall receive, the dealership says, from adding your family crest to the seats to installing a minibar in the back. But there isn’t a list of “extras” from which to choose — it’s up to the customer to ask. Previous add-ons have included the family crests etched onto the glass, fax machines and cigar humidors.
Read More: Yahoo

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Biggest Political Lies of 2010

Obama's Promises

Presidents and promises have been comrades since the birth of our nation. Sometimes, the vows have been bold: Lyndon B. Johnson pledged to eliminate poverty in his 1964 State of the Union Address. Obviously, that didn't happen. Other times, the promises have been mostly fulfilled, as when Roosevelt announced his historic New Deal. Throughout his campaign, President Obama made more than 500 promises to our nation, according to PolitiFact, a service from the St. Petersburg (Fla.) Times that assesses the truth behind politicians' statements. Here is how PoliFact says the president is doing.
Foreclosure prevention fund
'The Fund will not help speculators, people who bought vacation homes or people who falsely represented their incomes.'
PolitiFact rating: Compromise
Repeal the Bush-era tax cuts for those making more than $250,000 (couple) or $200,000 (single)
'At a time when Americans are working harder than ever, we are taxing income from work at nearly twice the level that we're taxing gains for investors,' Obama said. 'We've lost the balance between work and wealth.'
PolitiFact rating: Stalled
Require health-insurance
coverage for all children

'Barack Obama and Joe Biden will require that all children have health-care coverage … [and] expand the number of options for young adults to get coverage by allowing young people up to age 25 to continue coverage through their parents' plans.'
PolitiFact rating: Promise Kept
Build an electronic health
information system

'Barack Obama and Joe Biden will invest $10 billion a year over the next five years to move the U.S. health-care system to broad adoption of standards-based electronic health-information systems, including electronic health records. They will also phase in requirements for full implementation of health IT and commit the necessary federal resources to make it happen.'
PolitiFact rating: In the Works
Assure that the Veterans Administration budget is prepared as 'must-pass' legislation
'Obama will meet early in the budgeting process each year with congressional leaders and the nation's leading Veterans' Service Organizations (VSOs) to ensure the VA budget is always given 'must-pass' status.'
PolitiFact Rating: Promise Kept
Begin drawing down combat
troops from Iraq

'Barack Obama will work with military commanders on the ground in Iraq and in consultation with the Iraqi government to end the war safely and responsibly within six months.'
PolitiFact Rating: Promise Kept
Deploy additional troops to Afghanistan
'As Obama removes our combat brigades from Iraq, he will send at least two additional brigades to Afghanistan, where the Taliban is resurgent. He will also provide our armed forces with the reset capability that they need. He will replace essential equipment, and he will ensure that our men and women in uniform get the care and support they have earned.'
PolitiFact Rating: Promise Kept
Close Guantanamo Bay
'As president, Barack Obama will close the detention facility at Guantanamo. He will reject the Military Commissions Act, which allowed the U.S. to circumvent Geneva Conventions in the handling of detainees. He will develop a fair and thorough process based on the Uniform Code of Military Justice to distinguish between those prisoners who should be prosecuted for their crimes, those who can't be prosecuted but who can be held in a manner consistent with the laws of war and those who should be released or transferred to their home countries.'
PolitiFact Rating: Stalled
End the use of torture
'Barack Obama will end the use torture without exception. He also will eliminate the practice of extreme rendition, where we outsource our torture to other countries.'
PolitiFact Rating: In the Works
New rules barring paid lobbyists from serving as administration officials
'No political appointees in an Obama-Biden administration will be permitted to work on regulations or contracts directly and substantially related to their prior employer for two years. And no political appointee will be able to lobby the executive branch after leaving government service during the remainder of the administration.'
PolitiFact Rating: Promise Broken
Require full disclosure and a waiting period for budget earmarks
'The Transparency and Integrity in Earmarks Act will shed light on all earmarks, disclosing the name of the legislator who asked for each earmark, along with written justification, 72 hours before they can be approved by the full Senate.'
PolitiFact Rating: Compromise
Create tough new financial regulations
'I'll put in place the common-sense regulations and rules of the road I've been calling for since March--rules that will keep our market free, fair and honest; rules that will restore accountability and responsibility in our corporate boardrooms.'
PolitiFact Rating: Promise Kept
Provide a path to citizenship for undocumented immigrants
'Obama and Biden support a system that requires undocumented immigrants who are in good standing to pay a fine, learn English and go to the back of the line for the opportunity to become citizens.'
PolitiFact Rating: Stalled
Create 5 million new 'green industry' jobs
'Obama and Biden will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial-scale renewable energy, invest in low-emissions coal plants and begin transition to a new digital electricity grid. A principal focus of this fund will be devoted to ensuring that technologies that are developed in the U.S. are rapidly commercialized in the U.S. and deployed around the globe.'
Politifact Rating: In the Works
Create a cap-and-trade system to control global-warming emissions
'As president, I will set a hard cap on all carbon emissions at a level that scientists say is necessary to curb global warming--an 80 percent reduction by 2050 … These reductions will start immediately, and we'll continue to follow the recommendations of top scientists to ensure that our targets are strong enough to meet the challenge we face.'
PolitiFact Rating: Promise Broken
Increase funding for national parks
and forests

'As president, he and Joe Biden will repair the damage done to our national parks by inadequate funding and emphasize the protection and restoration of our National Forests.'
PolitiFact Rating: Promise Kept