EU leaders did not discuss extending Brexit transition period, reveals Donald Tusk

first_imgDespite the lack of progress, Tusk tried to sound upbeat in his press conference – a contrast to his remarks at the close of a summit in Salzburg last month when said May’s plan for a post-Brexit trade deal with the EU would not work.He said on Thursday: “ We are in a much better mood than after Salzburg.”He added that his positive feeling was “more emotional than a rational one.” EU leaders did not discuss extending Brexit transition period, reveals Donald Tusk whatsapp EU leaders did not discuss extending the UK’s post-Brexit transition period last night despite Theresa May floating the offer as a way to jumpstart negotiations. Owen Bennett Sharecenter_img Thursday 18 October 2018 4:00 pm whatsapp The PM made the proposal to her EU counterparts on Wednesday, but European Council president Donald Tusk revealed it was not talked about after she had left the room.German Chancellor Angela Merkel used a post-summit press conference to suggest an extra period of transition would not be needed once a “political solution” to the impasse was found.In his own remarks to the press, Tusk said he did believe EU leaders would agree to the plan if they felt it would end the deadlock in the talks.Speaking in Brussels, Tusk said: “I am sure the leaders would be ready to consider it positively.”EU leaders decided last night not to give the go-ahead for a special Brexit summit to be held in November, as sufficient progress has not been made over the Irish backstop issue. Read This Next20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour Tags: Brexit Donald Tusk People Theresa Maylast_img read more

So long, Theresa – business leaders change all the time

first_imgUnfortunately for May, it became clear that she’d run out of steam. In practice, this was reflected by parliament repeatedly voting down her Brexit deal, and members of her own cabinet briefing against her. whatsapp Theresa May, take comfort from knowing that leaders change all the time in business John MorrisJohn Morris is a partner at Smith & Williamson. Opinion whatsapp Of the businesses that we spoke to which have successfully raised finance, scaleups were also far more likely to have a concise business plan in place. Unfortunately for the outgoing Prime Minister, she did have a plan, but it did not stand up to scrutiny. Tags: Brexit Conservative leadership race Theresa May Two weeks ago, as Theresa May stood outside Downing Street to announce her resignation, you would  have been hard-pressed not to feel a degree of sympathy, regardless of political affiliation. But the truth is that what can look like a bruising resignation is sometimes exactly what’s needed for an organisation to move on and – in most cases – prosper. Friday 7 June 2019 11:42 am What links these failure rates is the rationale, from nearly half of founders, that the management team wasn’t strong enough. This far exceeds the number of companies that failed because their business model wasn’t good enough, demonstrating that the quality of the management team is the most important factor for investors. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStoryElvenarIf You Are Above 30, this Fantasy Game is a Must-Have. No Install.Elvenar Share A staggering 40 per cent of founders who’ve successfully raised funds told us that changing their chief executive was part of the process, and 28 per cent also said that they had replaced their chief financial officer during the funding journey. In short, organisations need new ideas and new ways of thinking to thrive, and this is often brought about by new leadership teams. This can be particularly felt at the scaleup stage, as businesses transition from “growth to super-growth”. It is here where a new leader might help refocus the business on its key objectives, while delivering scale as it aims to reach the next level. And unlike in business, where lengthy gardening leave is the norm, she now has the unenviable task of operating in a caretaker capacity. That’s politics for you. In the business world, securing an agreement – especially one which could be viewed as risky – requires preparation. Securing investment should by no means be a blind leap of faith into the unknown. Equally important is the level of ambition displayed, and a degree of certainty on future plans and objectives. But even so, getting something signed is never easy. To understand the importance of the leadership team, it’s worth exploring businesses which have tried and failed to raise finance. Considering all the funding success stories that we hear about, the fact that seven in 10 businesses fail to raise finance during their first attempt may be surprising. Two fifths of firms fail to secure funding more than three times, while nine per cent have made five or more unsuccessful attempts. To be ready for complex negotiations, firms need to ask themselves difficult questions and demonstrate that a strong management team is in place which can successfully handle unexpected events and adapt to the fast-paced nature of business growth. Recently, we’ve been looking at scaleups and small businesses, and how they raise external finance as they prepare for a period of significant growth. Today is May’s official resignation date as leader of the Conservatives, although she’ll remain as Prime Minister until her party selects her successor. She might perhaps take some comfort from the fact that we see business leaders replaced surprisingly frequently. This is particularly apparent when firms are in the midst of major change – not unlike the Brexit negotiations. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. So the fact that such a significant proportion of those businesses which secured that all-important funding deal replaced members of their management team during the process speaks volumes. BRUSSELS, BELGIUM – NOVEMBER 25: British Prime Minister Theresa May departs after speaking at a press conference after attending a special session of the European Council over Brexit on November 25, 2018 in Brussels, Belgium. Ms May spoke after leaders of the 27 remaining member states of the European Union met and approved the United Kingdom’s withdrawal agreement for leaving the European Union and the political declaration that will set the course for the U.K.’s relationship with the E.U. once Brexit is complete. (Photo by Sean Gallup/Getty Images) last_img read more

Persimmon builds up sales to pre-Covid levels

first_imgWednesday 28 April 2021 8:39 am Show Comments ▼ The housebuilder saw a lift of 2.10 per cent to its share price this morning, now resting at 3,213p. Despite many strapped for cash, Persimmon reported strong numbers of customer enquiries, 17 per cent ahead of numbers seen in 2019. Persimmon set aside £75m in January to address the legacy cladding issues in their buildings. (Getty Images) Also Read: Persimmon builds up sales to pre-Covid levels whatsapp The group will provide a further trading update on 8 July 2021. Sales at housebuilder Persimmon for 2021 so far are 23 per cent ahead of last year, meanwhile, it has set aside £75m to address the issue of flammable high-rise cladding. whatsapp The group has also branched out with £140m in land investments across to tackle the 15 per cent drop in active outlets. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks “Where we no longer own them we will work with the owners to make sure they meet their legal responsibilities and duty.” Persimmon set aside £75m in January to address the legacy cladding issues in their buildings. (Getty Images) The chairman of the group, Roger Devlin, said at the time that “the concern around now banned cladding is affecting many thousands of homeowners who live in high-rise buildings right across the country.”center_img The housebuilder’s broadband service, FibreNest, has almost doubled its customer base since 2020, growing from 6,500 to 14,000. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFactableAluminum Foil Uses You’ll Want to KnowFactableBrake For ItSay Goodbye: These Cars Will Be Discontinued In 2021Brake For ItAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlyLiver Health1 Bite Of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUnPastedThese Are Hands Down The Worst Cars Ever MadeUnPastedDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Persimmon also set aside £75m in January to address the legacy cladding issues in their buildings. “We are progressing our land holdings and taking advantage of good quality investment opportunities, bringing 6,000 plots across 29 locations into the business in the period and securing a strong pipeline for the future,” Finch added. Share Millie Turner The end of April saw Persimmon’s balance sheet and liquidity remain robust, with £940m in cash and around £90m in deferred land commitments. “Persimmon has made a strong start to the year with current forward sales 23 per cent ahead of last year and 11 per cent ahead of the same point in 2019. Our build rates continue at pre-Covid levels,” chief executive Dean Finch said. With the average price for homes sold to private owners at around £252,000, the group enjoyed £3bn in sales in the first quarter of 2021, up from £2.4bn last year. Persimmon set aside £75m in January to address the legacy cladding issues in their buildings. (Getty Images) Also Read: Persimmon builds up sales to pre-Covid levels Persimmon builds up sales to pre-Covid levels Persimmon set aside £75m in January to address the legacy cladding issues in their buildings. (Getty Images) Also Read: Persimmon builds up sales to pre-Covid levels Tags: Persimmonlast_img read more

Premium / Analysis: Rising staff costs may be a package too heavy to carry for DP-DHL

first_img Email* Email* Password* New Premium subscriber REGISTER Reset Your Password By Alessandro Pasetti 26/03/2018 Please Login << Go back Please either REGISTER or login below to continue LOGIN Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium Almost all the key 2017 financial figures released by DP-DHL this month moved in the right direction – group revenues rose nicely above inflation and earnings growth was even stronger, thanks to operating leverage, while free cash flow as well as debt metrics were impressive.One number soared, however, and certain trends prompted concern, particularly for the employees of the DHL Global Forwarding (DGF) unit.(DGF in this story refers to both freight and forwarding activities, which are reported separately).Rising costsIt is ... Premium subscriber LOGIN Forgotten your password? Please click here Resetlast_img read more

Private Doctor Industry Booms in NK

first_imgNewsEconomy News Facebook Twitter North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) SHARE By Daily NK – 2015.04.28 2:14pm AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Private Doctor Industry Booms in NKcenter_img RELATED ARTICLESMORE FROM AUTHOR News There are signs that North Korea is running into serious difficulties with its corn harvest US dollar and Chinese reminbi plummet against North Korean won once again Private doctors — often dubbed“famed doctors” — are more popular these days than those languishing in North Korea’s state-run hospitals. Meager pay and overall poor working conditions have prompted an exodus of doctors from these institutions, seeing them head outside the confines of state medical facilities to offer personal medical services instead. “Provincial, municipal, and county hospitals have very few patients and feel so desolate,” a source from NorthHamkyung Province reported to Daily NK on the 24th. “On the other hand, thereare lines of patients in front of the houses of individual doctors in eachregion, who have come to be renowned for their competence.” State-run hospitals and clinics in NorthKorea are notorious for prescribing medication without the ability to provideit. While the nation receives some international pharmaceutical aid, Party cadres often appropriate much of it forpersonal use or bribes; in other cases, these medications end upcirculating at the markets. Moreover, the source attested that thedoctors in these facilities are novices at best, fresh out of medical andvocational schools without the ability to treat illnesses–let alone diagnosethem. “On the contrary, individual doctors are quite popular because they arevery experienced and have direct access to medications,” he pointed out.  The most renowned doctors are those who previously rankedas section chiefs or served in special wards within the hospitals.Leaving the state-run institutions has afforded them the opportunity to tend topatients in their homes or make house calls to the donju [new affluent middle class] or Party cadres,bumping up their profit margins exponentially, according to the source. This abundance of time and flexibility is something ratherunfathomable for those still affiliated with any state-run enterprise in North Korea: in this case, hospitals. In addition to daily compulsory morning meetings about work-relatedprojects mixed in with ideological study sessions, ahead of any major nationalholiday–Chosun Workers’ Party Foundation Day, Kim Il Sung’s birthday, Kim JongIl’s birthday, National Independence Day, etc.–these institutions must hostcelebratory events, which require all personnel to engage in group song and dance to honorthe Kim dynasty. Practice sessions typically commence amonth ahead of the events, stripping the physicians of time that should be spent on patient care. These tight parameters prevent doctors from seeing any patients prior to noon, afterwhich “the doctors cursorily visit their wards about once a day, leaving therest of the treatments to the nurses,” according to the source.“Private doctors may lack perfect medicalfacilities but they make up for it with ample experience and skills; they evenhave a wide net of pharmacists and practical nurses at their disposal, all of whom are poised to produce the necessary medication,” he explained. “These doctors are available toprovide treatment whenever, wherever, making them a highly sought-afterservice.” The cost of such services varies largely on a given patient’s affliction. Shingles or similar ailments run in the range of150,000-200,000 KPW [18.75-25 USD]. A visit to a state-run hospital for the same patient,however, would run him or her around 130,000 KPW [16.25 USD], but in order to access proper treatment andmedications, bribes to medical personnel inevitably drive up the costs, quickly emptyingthe pockets of patients desperate for medical care. For this reason, high-ranking officials donothing to crack down on doctors practicing from their homes–despite theofficial ban on private operations by the state. After all, as Party cadres comprise a significant portion of the doctors’ client base, regulating their activities would only prove to be self-sabotaging. News last_img read more

Global dividends expected to grow 10% in 2018: report

first_imgBy sector, banks are expected will record the largest increase in gross payouts in 2018, growing by a forecast US$26.1 billion to US$258 billion. Industrial goods and services and technology are tied for second, with predicted gains of US$12.6 billion.On a percentage basis, basic resources are forecast to lead the way, with a 16% gains in dividends, followed by construction and materials, up 14%), and technology, up 13%.By region, emerging markets are projected to outperform developed markets in dividend growth.“Our positive global forecast is based on a bottom-up analysis of more than 7,500 companies, which collectively show an encouraging economic outlook. In 2018, we expect to see stronger performance across sectors, coupled with resurgent growth in Europe and a notable decrease in dividend cuts,” says Thomas Matheson, head of dividend research, IHS Markit, in a statement. Facebook LinkedIn Twitter Keywords Dividends James Langton Related news Gold companies reward shareholders Global dividends to recover in 2021: IHS Markit Led by banks, declared dividends are expected to increase 10% globally this year to approximately US$1.65 trillion, according to a report published Thursday from London, U.K.-based IHS Markit.This represents the highest level of annual growth since 2014, the firm says in a news release. Dividends poised to rise again in 2021 Help clients understand financial planning vinnstock/123RF Share this article and your comments with peers on social medialast_img read more

FDIC settles with PwC over bank that failed in 2009

first_img Share this article and your comments with peers on social media James Langton Retail trading surge on regulators’ radar, Vingoe says Imposters among us, CSA warns Related news DoJ launches task force to tackle Covid-19 fraud High angle view of mallet eyeglasses legal book in courtroom andreypopov/123RF The FDIC reports that a U.S. district court “held PwC liable for professional negligence in its audit of Colonial Bank” and that the court subsequently awarded damages to the FDIC on its claims.The bank’s failure cost the federal deposit insurance fund almost US$3 billion. Last year, the FDIC also settled professional negligence claims against Crowe Horwath LLP for US$60 million, stemming from its internal audits of Colonial Bank. Keywords FraudCompanies PriceWaterhouseCoopers LLP The U.S. Federal Deposit Insurance Corp. (FDIC) announced that it has reached a US$335 million settlement with PricewaterhouseCoopers LLP (PwC) over its audits of a bank that failed almost a decade ago. The settlement involves claims of “professional negligence” brought by the FDIC against PwC stemming from its audits of Alabama-based Colonial Bank, which failed in August 2009.The bank collapsed after it was revealed that it had acquired hundreds of millions of dollars worth of fraudulent mortgages. In 2011, a former Colonial Bank executive was sentenced to eight years in prison after she pled guilty to one count of conspiracy to commit bank, wire, and securities fraud. Facebook LinkedIn Twitterlast_img read more

Joseph Matalon to Chair Jamaica Productivity Centre Advisory Board

first_imgRelatedJoseph Matalon to Chair Jamaica Productivity Centre Advisory Board RelatedJoseph Matalon to Chair Jamaica Productivity Centre Advisory Board FacebookTwitterWhatsAppEmail Businessman Joseph Matalon has been appointed chairman of the Advisory Board of the Jamaica Productivity Centre (JPC).This board will be responsible for overseeing the programmes and activities of the JPC. “We are going through great pains to put together an advisory board for the Productivity Centre [as] we are determined to give the Productivity Centre what it needs,” said State Minister for Labour and Social Security, Andrew Gallimore, as he addressed the launch of National Productivity Awareness Week recently at the Terra Nova Hotel in Kingston.Mr. Matalon’s appointment is expected to assist efforts to improve the country’s productivity rate, which according to Mr. Gallimore is “heading in the wrong direction”.Comparing Jamaica’s productivity rate with that of its regional partners, Mr. Gallimore cited research done by the JPC, which shows that while gross domestic product (GDP) per capita in the Caribbean has grown at an average of 2.3 per cent per annum over the last 10 years, Jamaica’s GDP per capita declined by approximately 0.01 per cent per annum over the same period.“Trinidad’s productivity is three times more than our Jamaican population. They are currently growing by approximately 3.4 per cent while we are declining by.12 per cent,” he pointed out. “Without being an alarmist, I would like to say we are in crisis. We are heading in the wrong direction,” he stated.According to Mr. Gallimore, the country has not paid much attention to productivity and its implications for the economy and improving the lives of Jamaicans.“There is hardly anything more important to growth and development of our country than productivity,” he stated, noting that every Jamaican “would like to live a better life. these things will only be possible with significantly increased productivity”.The Labour State Minister said that if Jamaica is to improve the current level of productivity, there must be a unified approach between employers and employees. “For too long in Jamaica, we have had a situation where the employers want to pay the least and get the most and the person that is doing the work wants to do the least and get the most. We have to agree that for persons to get an increase they have to produce and we have to agree that when they produce, they will get an increase,” he said.He noted further that, “every time that we have a dispute between management and labour, if there is not a fair and objective way of settling that dispute, which represents an outcome that is in the national interest, then no matter who wins, Jamaica loses.”Mr. Gallimore said that the Ministry will be looking to the Productivity Centre to provide unbiased and objective data that can guide the relationship between the trade unions and the employers.In his remarks at the function, Labour Minister, Pearnel Charles said that the Ministry will be working to ensure that workers, within all categories of work, are certified. “We are going to make it absolutely clear sometime next year, that we are going to be having certification of workers within all categories of work throughout Jamaica,” he stated.In the meantime, he said that the Ministry will be moving from the position of “putting out strikes” to emphasizing human resource development to enhance productivity.National Productivity Awareness week was observed under the theme: Enhancing Living Standards Through Productivity Growth. RelatedJoseph Matalon to Chair Jamaica Productivity Centre Advisory Boardcenter_img Joseph Matalon to Chair Jamaica Productivity Centre Advisory Board UncategorizedNovember 25, 2007 Advertisementslast_img read more

Work Set To Start On Williamstown Crossing Removal

first_imgWork Set To Start On Williamstown Crossing Removal VIC PremierConstruction on the Ferguson Street level crossing removal project in Williamstown will start in February with designs now finalised to decrease congestion and keep the community safe.The dangerous and congested level crossing – used by more than 25,000 vehicles per day and more than 110 trains – is the source of significant safety concerns for residents and schools.The $192 million contract will create 600 local full-time jobs at peak construction, awarded to an alliance comprising McConnell Dowell, Arup, Mott McDonald, Metro Trains and the Level Crossing Removal Project.Member for Williamstown Melissa Horne said construction partners were raring to go to deliver the project, which involves lowering the rail line under the road and building a brand-new North Williamstown Station.Once construction teams are up and running on site, their first major task will be to excavate a 750-metre trench through hard basalt rock and clay, removing enough material to fill 20 Olympic swimming pools.From there they will rebuild Ferguson Street over the new trench, lay tracks beneath the road and build the new North Williamstown Station. Construction for this massive undertaking will require a three-month closure of the rail line in late 2021.Designs unveiled today contain final tweaks to the station and surrounding precinct, carefully configured to fit in with Williamstown’s low-rise streetscapes.Red brick and bluestone – some reused from the current station precinct – will feature throughout, along with new open space and an additional pedestrian crossing. The main western heritage station building will be retained.The local community embraced opportunities to shape the project, responding in force with more than 1,800 surveys completed across three rounds of consultation.Locals are now being encouraged to head online to a new ‘virtual information room’ containing detailed images and insights into the project and its designs: 44 level crossings already gone for good, the Victorian Government is well on track to smash its commitment to remove 50 crossings by 2022, and 75 by 2025. We’re not wasting a minute delivering this project, with one level crossing to be removed every four weeks on average in 2021.As stated by Minister for Transport Infrastructure Jacinta Allan“Months and months of careful work and planning has gone into fine-tuning this design and we’ll continue to work with the local community as we remove this level crossing for good.”As stated by Member for Williamstown Melissa Horne“A chaotic level crossing has absolutely no place in an area that sees hundreds of kids transiting from train station to school each day. The time has come for it to go.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, Australia, building, community, Ferguson, Force, full-time, Government, infrastructure, Minister, Pedestrian, project, running, Safety, school, Transport, Victoria, Williamstownlast_img read more

Motor Mouth: Wanting flying cars isn’t going to make them real

first_imgCreated with Raphaël 2.1.2Created with Raphaël 2.1.2 The Aeromobil, a flying supercar is on display as part of the “Top Marques” show, dedicated to exclusive luxury goods, on April 20, 2017 in Monaco. This is not an engineering story. Oh, there will be plenty of discussion regarding horsepower, lift and even some calculations — probably erroneous, as I did the calculating — of the thrust required to get a helicopter off the ground compared with the power needed to drive a car. Nonetheless, this is definitely not an engineering story.Instead, this is about focus groups. Or, more accurately, why 80 per cent of products, despite being thoroughly vetted through focus groups, fail within the first six months. Why, as Harvard Business School professor Gerald Zaltman wrote in How Customers Think, “the correlation between stated intent and actual behaviour is usually low and negative.” Or, as UX magazine’s Jay Eskenazi, explains, “If you just show people a product, they will give you an opinion or reaction. If you have them actually use or interact with the product, their feedback will be based on their experience, which is far superior to their initial, hypothetical thoughts.” In other words, the more abstracted an expressed opinion is from reality, the more likely it is that the research participant’s opinion will be incorrect, inaccurate or misleading.This explains why, according to the University of Michigan’s A Survey of Public Opinion About Flying Cars, not only do consumers really want their next cars to be completely electric, they also want them to fly. For those already thinking that there must have been some magic mushrooms involved, consider this further demand: They also want their future flying car to have a range of at least 640 kilometres (400 miles). Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Motor Mouth: Why I’m not drinking the Tesla Kool-Aid The Rolls-Royce Boat Tail may be the most expensive new car ever Trending in Canada Motor Mouth: An electric ‘revolution’ that never wasNow, before you all send me YouTube videos of Lilium’s sensational Vertical Take-off and Landing Jet, know that there is more than a little skepticism that it can deliver its promised 300-kilometre range using only its Tesla-like electric batteries. Besides, it is not in any way, despite the blogosphere’s attempt to describe it as such, a car. Indeed, the one flying car that does use some electric power, the AeroMobil 3.0, is actually a hybrid, its Chevrolet Volt-like 2.0L gasoline-fuelled powertrain consuming about 4 L/100 km while driving and about 12 L/100 km jetting around at 260 km/h. It is also, despite having 300 turbocharged horsepower at its disposal, not capable of vertical take-off. Oh, and by the way, according to Wired magazine, AeroMobil is projecting its flying car will cost “between the price of a supercar and a small plane.” In other words, neither is any more indicative that our future is practical, four-door, vertical-take-off-and-landing flying electric cars than HBO’s You Me Her is proof that unicorns really exist.Nonetheless, as seemingly outrageous as the survey’s conclusions may be, the source — the University of Michigan — is an entirely credible institution (its studies on fleet-wide fuel economy for newly registered cars are considered the bible of corporate average fuel economy). Nor is this an April Fool’s joke: authors Michael Sivak and Brandon Schoettle concluding that, “despite the fact most Americans are very concerned about the safety of flying cars, most would still ultimately like to use them.”The point, technical mumbo-jumbo notwithstanding, is that as the automotive world is in flux, it’s becoming common to back up outlandish claims with seemingly creditable surveys. Just the latest, by no less than the American Automobile Association, claims that up to 30 million Americans are likely to buy an electric vehicle as their next car. Now consider that, since 2010, there have been barely more than 250,000 EVs sold in North America and that the sale of environmentally motivated automobiles has declined in recent years. As Michelle Krebs, a senior analyst for, told CNBC, the survey “does not correlate at all with what Cox Automotive’s Kelley Blue Book or AutoTrader see in shopping and sales data. If people are saying they are interested in electric vehicles … that interest is not translating into sales.”In fact, if 30 million Americans were to buy EVs as their next cars, it would require that the plug-in segment capture roughly 20 per cent of the entire new-car market over the next 10 years. In reality, EV sales currently account for less than one per cent of North America’s new-car market. You don’t need to be a mathematician to understand the chances that 20 times more Americans are suddenly going to open their wallets to buy electric is not realistic. RELATED TAGSMotor MouthMotor MouthNew VehiclesAmerican Automobile AssociationAsiaAutomotive LLCBrandon SchoettleCNBC Inc.David BoothEast AsiaElectric VehiclesGerald ZaltmanHarvard Business SchoolHawaiiHome Box Office Inc.Isuzu ImpulseJapanJay EskenaziKelley Blue Book Co. Inc.Michael SivakMichelle KrebsNagoyaNorth AmericaRon PopeilScience and TechnologyTechnologyTesla Model SU.S. Department of EnergyUnited StatesUniversity of Michigan COMMENTSSHARE YOUR THOUGHTS advertisement Let’s examine those expectations, shall we? Assume, for the moment, that the respondents were talking about 640 km of driving range. Extrapolating from current electric car performance, it takes about 30 to 35 kilowatt-hours of lithium-ion to reliably promise 160 km of range. Six hundred and forty kilometres, then, would require somewhere between 120 and 140 kWh useable battery capacity. The problem is, using current technology, that represents somewhere between 480 kilograms (1,056 pounds) and 560 kg (1,232 lb.) of battery weight. Now consider that a four-passenger aircraft such as Cessna’s 172 — the world’s most popular four-passenger recreational aircraft — weighs about 770 kg (around 1,700 pounds). In other words, the battery that would drive a car 640 km would weigh almost as much as a four-passenger aircraft.Now consider that a Tesla Model S, with 100 kWh of battery and 500 km (315 miles) of range, weighs roughly 2,300 kg. In other words, an electrically powered car able to carry four passengers — which the Sustainable Worldwide Transportation study’s respondents say is another “must have” — with enough battery to drive 640 km (never mind the 960 klicks some respondents wanted) has virtually no hope of flying.But wait – as Ron Popeil, he of Veg-O-Matic fame, used to say – there’s more. Fully 83.1 per cent of these same respondents say their future flying car should also offer vertical takeoff and landing, the whole point being enhanced convenience and shorter travel times.The problem here is that helicopters, which our flying cars would now have to be, require a lot more power than fixed-wing aircraft (essentially, a helicopter has to lift its weight with sheer power, while an airplane gets its lift from horizontal speed). A rough calculation reveals that one horsepower is needed to lift something between two and 3.5 kg of car/plane/helicopter off the ground. In other words, just getting a Tesla 100 D’s battery off the ground would require anywhere between 150 and 200 hp. Getting the whole car taking off vertically would require anywhere from 750 to 1,000 hp. Indeed, a Bell 429, weighing in a comparatively svelte 2,025 kg, boasts twin Pratt & Whitney turboshafts with no less than 1,250 hp.RELATED Trending Videos PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | See More Videos Just as you don’t have to be an aeronautical engineer to understand that a four-passenger electric car with a range of 640 km isn’t going to fly, no matter how many people say they want one. ‹ Previous Next ›last_img read more