Do You know How Banks Works?

The funny thing about how a bank works is that it functions because of our trust. We give a bank our money to keep it safe for us, and then the bank turns around and gives it to someone else in order to make money for itself. Banks can legally extend considerably more credit than they have cash. Still, most of us have total trust in the bank's ability to protect our money and give it to us when we ask for it.

Why do we feel better about having our money in a bank than we do having it under a mattress? Is it just the fact that they pay interest on some of our accounts? Is it because we know that if we have the cash in our pockets we'll spend it? Or, is it simply the convenience of being able to write checks and use debit cards rather than carrying cash? Any and all of these may be the answer, particularly with the conveniences of electronic banking today. Now, we don't even have to manually write that check -- we can just swipe a debit card or click the "pay" button on the bank's Web site.

In this article, we'll look into the world of banking and see how these institutions work, what you would have to do to start your own bank, and why we should (or shouldn't) trust them with our hard earned cash.

According to Britannica.com, a bank is:
an institution that deals in money and its substitutes and provides other financial services. Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively.
Banks are critical to our economy. The primary function of banks is to put their account holders' money to use by lending it out to others who can then use it to buy homes, businesses, send kids to college...

When you deposit your money in the bank, your money goes into a big pool of money along with everyone else's, and your account is credited with the amount of your deposit. When you write checks or make withdrawals, that amount is deducted from your account balance. Interest you earn on your balance is also added to your account.

Banks create money in the economy by making loans. The amount of money that banks can lend is directly affected by the reserve requirement set by the Federal Reserve. The reserve requirement is currently 3 percent to 10 percent of a bank's total deposits. This amount can be held either in cash on hand or in the bank's reserve account with the Fed. To see how this affects the economy, think about it like this. When a bank gets a deposit of $100, assuming a reserve requirement of 10 percent, the bank can then lend out $90. That $90 goes back into the economy, purchasing goods or services, and usually ends up deposited in another bank. That bank can then lend out $81 of that $90 deposit, and that $81 goes into the economy to purchase goods or services and ultimately is deposited into another bank that proceeds to lend out a percentage of it.

In this way, money grows and flows throughout the community in a much greater amount than physically exists. That $100 makes a much larger ripple in the economy than you may realize!.If you need learn more about how banks work click this link

Read More..

Private Jet

>Picture of Raytheon Hawker 800. Business jet (previously known as the DH125, then HS125, then British Aerospace 125).Business jet, private jet or, colloquially, bizjet is a term describing a jet aircraft, usually of smaller size, designed for transporting groups of business people. Business jets may be adapted for other roles, such as the evacuation of casualties or express parcel deliveries, and a few may be used by public bodies, governments or the armed forces. The more formal terms of corporate jet, executive jet, VIP transport or business jet tend to be used by the firms that build, sell, buy and charter these aircraft. The allied term bizprop is in use amongst enthusiasts to refer to turboprop-powered aircraft used in similar roles but seems unlikely to spread.

Background
Almost all production business jets, such as Grumman Aerospace's Gulfstream and the Gates Lear Jet (now built by Bombardier), have had two or three engines, though the Jetstar, an early business jet, had four. Advances in engine efficiency and power have rendered four-engine designs obsolete, and only Dassault Aviation still builds three-engine models (in the Falcon line). The emerging market for so-called "very light jets" and "personal jets" has seen the introduction (at least on paper) of several single-engine designs as well.
Cessna 560XL Citation Excel business jet of the Swiss Air Force. Airliners are sometimes converted into luxury business jets. Such converted aircraft are often used by celebrities with a large entourage or press corps, or by sports teams, but airliners often face operational restrictions based on runway length or local noise restrictions.

A focus of development is at the low end of the market with small models, many far cheaper than existing business jets. Many of these fall into the very light jet (VLJ) category. Cessna is developing the Mustang, a six-place twinjet (2 crew + 4 passengers) planned to be available for $2.55 million USD at the end of 2006. A number of smaller manufacturers have planned even cheaper jets; the first is the Eclipse 500 which has become available at around 1.5 million USD. It remains to be seen whether the new jet manufacturers will complete their designs, or find the market required to sell their jets at the low prices planned.


Bombardier Global 5000 business jet
There are approximately 11,000 business jets in the wordwide fleet with the vast majority of them based in the United States or owned by US companies. The European market is the next largest, with growing activity in Asia and Central America. There is a pre-owned marketplace in which aircraft are bought and sold based on their immediate deliverability because new aircraft orders often take two to three years for delivery.

Since 1996 the term "fractional jet" has been used in connection with business aircraft owned by a consortium of companies. Costly overheads such as flight crew, hangarage and maintenance can be shared through such arrangements.

Bombardier Global Express business jet
Classes
The business jet industry groups the jets into five loosely-defined "classes", Heavy, Super Mid-size, Mid-size, Light, and Very Light.


Business jets
Airbus A319 Corporate Jet or ACJ
Boeing 737 Business Jet
Bombardier Challenger and GlobalExpress
Dassault Falcon family
Embraer Legacy and Lineage
General Dynamics (formerly Grumman) Gulfstream II, III, IV, V
Lear Jet
Lockheed JetStar
North American Sabreliner
Cessna Citation
Hawker Beechcraft series

Very light jets
Eclipse Aviation Eclipse 500 ($1-2 million)
Adam Aircraft Industries A700 (approx $1.3 million)

Read More..

Nokia E-90 Best Communicator for Professional

Nokia E90 empowers you to avail high-speed 3G mobile broadband connection for browsing internet and to make seamless video calls. As the mobile phone is an enterprise edition mobile phone, you can virtually take office work all along you. The flexibility in the network connection is another feature which adds spice in this mobile phone. The GPS feature in the mobile phone gives you the chance to be in the right place at the right time.

Here is Nokia E-90 Specification


Operating frequency
GSM quad-band (850/900/1800/1900)
WCDMA HSDPA 2100

Size
Volume: 140 cc
Weight: 210 g
Dimensions: 132 x 57 x 20 mm

Display
Inner: Active matrix color display (800 x 352 pixels), 16 million true colors
Outer: Active matrix color display (240 x 320 pixels), 16 million true colors

User interface

Nokia Series 60, 3rd edition, feature pack 3.1
Symbian OS Version 9.2
Java™ MIDP 2.0


Communicator keyboard:


5-way rocker key, 2 soft keys beside the screen, send and end keys
Full qwerty keyboard with backlight (separate key to activate light)
Application shortcut keys, S60 application key, profile key
Shortcuts to Bluetooth, IR, help, and call volume control


Cover keypad:

Full telephone keypad: send and end keys, two separate soft keys, 5 way rocker
Power key (including profile), application key


Imaging

3.2 megapixel camera with flash and autofocus
QCIF camera for video calling. Up to VGA (640x480) at up to 30 fps.


Email and Messaging


Supports POP3, IMAP4, and SMTP
Support for mobile email with filtering, including Nokia Intellisync Wireless Email
View, open, and edit email attachments with Quickoffice (documents, spreadsheets, and presentations), Zip Manager, and Adobe Acrobat Reader
Remote contact look-up
Instant messaging
Text-to-speech message reader
MMS and SMS


Multimedia


Video calling, video streaming
FM radio
Music player (MP3, AAC)
Media player


Memory functions

Up to 128MB free memory for user data and applications
Extendible up to 2GB with microSD memory card


Applications


Quickoffice office tools with editors
Maps application for location-based services
Nokia Office Tools 1.1 (including Active notes)
VoIP 2.1
Use the Download! client to personalize your device with add-on applications
Support for Nokia Intellisync Mobile Suite
WorldMate service, Nokia Wireless Presenter application, and Global Race – Raging Thunder game available for download via Download! client


Connectivity

Integrated WLAN
WLAN: 802.11b, 802.11g*
WLAN Security: WPA2-Enterprise, WPA2-Personal, WPA-Enterprise, WPA-Personal
WLAN Quality of Service: WMM, U-APSD
Mini USB, USB 2.0 full-speed
Bluetooth wireless technology 2.0
2.5mm Nokia A/V connector with ECI
Infrared (up to 115 kbps)


Browsing


Web browser (x)HTML
JavaScript 1.3 and 1.5 supported
Flash Lite 2.0 supported


Data transfer


WLAN 802.11b, 802.11g*
HSDPA up to 3.6Mbit/s enabled
WCDMA 2100 MHz with simultaneous voice and packet data
GPRS/EGPRS (Class A, MSC 32)
3GPP rel 5
Dual transfer mode MSC11, SAIC rel v1


Personal information management (PIM)


Nokia Team Suite
Calendar attachment support
Meeting requests to calendar
Calendar plug-in for 3rd party email solutions
Contacts with images
Nokia Active Notes application


Device management


Support for Nokia Intellisync Device management
OMA Device Management 1.1.2
OMA Client Provisioning 1.1.2
OTI firmware update
Local connectivity with Nokia PC Suite
Remote access to IT support via Nokia Intellisync Wireless Email and OMA device management


Security


Built-in S60 features protect local user data and restrict access to device settings
Device lock, also remote lock
Memory card lock
OMA DRM 2.0
Wireless LAN security features
SSL 3.0/TSL 1.0
Compatibility with leading third party security applications
Support for most common wireless network encryption methods


Voice features


Voice dialing
Voice commands for menu short cuts, keypad lock, and profiles
Voice recording for making notes or recording conversations
Internet Call release 2.1 for making VoIP (voice over IP) calls
Text-to-speech message reader
Enhanced voice commands with speaker-independent name dialing (SIND), and voice aid for eyes-free control of core functions
Integrated handsfree speaker
Push to talk (PoC)


Other useful features


Integrated GPS
Support for Nokia Intellisync file sync and device management
Stereo FM radio
Vibrating alert feature


Sales package contents


Nokia E90 Communicator
Nokia Battery BP-4L (1500 mAh)
Wired stereo headset (HS-47)
Travel Charger (AC-4)
Connectivity cable (DKE-2)
Memory card (microSD 512MB) - content may vary at country level
Quick Start guide
User manual
DVD ROM including the Nokia PC suite application


Power management


Battery BP-4L
Talk time Up to 5.8 hours GSM
Standby time Up to 14 days GSM
Capacity 1500 mAh


Operation times vary depending on the network and usage.

Read More..

Supercar of Bugatti Veyron

The Bugatti Veyron 16.4 is currently the fastest, most powerful, and most expensive street-legal full production car in the world, with a proven top speed of 407.5 km/h (253 mph), though several faster or more expensive vehicles have been produced on a limited basis.[1] It reached full production in September 2005. The car is built by Volkswagen AG subsidiary Bugatti Automobiles SAS in its Molsheim (Alsace, France) factory and is sold under the legendary Italian/French Bugatti marque. It is named after French racing driver Pierre Veyron, who won the 24 hours of Le Mans in 1939 while racing for the original Bugatti firm.

Performance


According to Volkswagen, the final production Veyron engine produces between 1020 and 1040 metric hp (1006 to 1026 SAE net hp), so the car will be advertised as producing "1001 horsepower" in both the US and European markets, despite the fact that the actual amount of horsepower produced is 986 - making it the second most powerful road production car - second only to the Koenigsegg CCXR, which it is claimed develops 1004bhp, although further testing in the Koenigsegg laboratories has proven it can hit 1064bhp.

Top speed was initially promised to be 406 km/h (252 mph), but test versions were unstable at that speed, forcing a redesign of the aerodynamics. In May 2005, a prototype Veyron tested at a Volkswagen track near Wolfsburg, Germany, and recorded an electronically limited top speed of 400 km/h (249 mph). In October, 2005, Car and Driver magazine's editor Csaba Csere test drove the final production version of the Veyron for the November 2005 issue. This test, at Volkswagen's Ehra-Lessien test track, reached a top speed of 407.5 km/h (253.2 mph). The top speed was verified once again by James May on Top Gear, again at Volkswagen's private test track. When getting close to the top speed during the test he said that "the tires will only last for about fifteen minutes, but it's OK because the fuel runs out in twelve." He also gave an indication of the power requirements, at 249 km/h (155 mph) the Veyron was using approximately 270 BHP (201 kW), but to get to its rated 407 km/h (253 mph) top speed required far more from the engine. The power required to overcome aerodynamic friction is proportional to the cube of the speed. Therefore, to go twice the speed, you need eight times the power.


The Veyron's hydraulic spoiler extended out.The Veyron is the quickest production car to reach 100 km/h (62 mph) with an estimated time of 2.5 seconds, according to the manufacturer. It reaches 60 mph in approximately 2.46 seconds. It also reaches 200 and 300 km/h (124 and 186 mph) in 7.4 and 18.2 seconds respectively. And according to the February 2007 issue of Road & Track Magazine, the Veyron accomplished the quarter mile in 10.2 seconds at a speed of 142.9 mph. This makes the Veyron the quickest and fastest production car in history. It also consumes more fuel than any other production car, using 40.4 L/100 km (5.82 mpg) in city driving and 24.1 L/100 km (10 mpg) in combined cycle. At full throttle, it uses more than 125 L/100 km (2.1 mpg), which would empty its 100 L (26.4 gallon) fuel tank in just 12.5 minutes. The car's everyday top speed is listed at 375 km/h (233 mph). When the car reaches 220 km/h (137 mph), hydraulics lower the car until it has a ground clearance of about 8.9 cm (3½ inches). At the same time, the wing and spoiler deploy. This is the "handling" mode, in which the wing helps provide 3425 newtons (770 pounds) of downforce, holding the car to the road.[2] The driver must, using a special key (the "Top Speed Key"), toggle the lock to the left of his seat in order to use the maximum speed of 407.5 km/h (253.2 mph). The key functions only when the vehicle is at a stop when a checklist then establishes whether the car—and its driver—are ready to enable 'top speed' mode. If all systems are go, the rear spoiler retracts, the front air diffusers close and the ground clearance, normally 12.4 cm (4.9 inches), drops to 6.6 cm (2.6 inches).

The Veyron's brakes utilize unique cross-drilled and turbine-vented carbon rotors, which draw in cooling air to reduce fade. Each caliper has eight[2] titanium pistons. Bugatti claims maximum deceleration of 1.3 g on road tires. Prototypes have been subjected to repeated 1.0 g braking from 194 to 50 mph (312 to 80 km/h) without fade. With the car's fearsome acceleration from 50 to 194 mph (80 to 312 km/h), that test can be performed every 22 seconds. At speeds above 124 mph (200 km/h), the rear wing also acts as an airbrake, snapping to a 70-degree angle in 0.4 seconds once brakes are applied, providing 0.5 g (4.9 m/s²) of deceleration.[2] Bugatti claims the Veyron will brake from 400 km/h (250 mph) to a standstill in less than 10 seconds.[2] The braking is also so evenly applied that the car will not deviate from a straight path if the driver lets go of the steering wheel, even with the brakes fully applied starting from close to top speed.

Specifications



The quad-turbocharged W16 engine used by the Veyron.The Veyron features a W16 engine—16 cylinders in 4 banks of 4 cylinders, or the equivalent of two narrow-angle V8 engines mated in a "W" configuration. Each cylinder has 4 valves, for a total of 64, but the narrow V8 configuration allows two camshafts to drive two banks of cylinders so only 4 camshafts are needed. The engine is fed by four turbochargers, and it displaces 8.0 L (7,993 cc/488 in³) with a square 86 by 86 mm bore and stroke.

Putting this power to the ground is a dual-clutch DSG computer-controlled manual transmission with 7 gear ratios via shifter paddles behind the steering wheel boasting an 8 ms shift time. The Veyron can be driven by full automatic transmission. The Veyron also features full-time all-wheel drive based on the Haldex system. It uses special Michelin run-flat tires designed specifically for the Veyron to accommodate the vehicle's top speed.

Curb weight is estimated at 1890 kg (4,160lb). This gives the car a power to weight ratio of 529 bhp/tonne.

The car's wheelbase is 2710 mm (106.3 in). Overall length is 4462 mm (175.8 in). It measures 1998 mm (78.7 in) wide and 1206 mm (47.5 in) tall.

The Bugatti Veyron has a total of 10 radiators.[2]

3 radiators for the engine cooling system.
1 heat exchanger for the air to liquid intercoolers.
2 for the air conditioning system.
1 transmission oil radiator.
1 differential oil radiator.
1 engine oil radiator.
1 hydraulic oil radiator for the spoiler.


Sales and service
Bugatti originally planned to build 300 Veyrons over five years. In March 2006, Bugatti president Bscher claimed to have 70 firm orders, selling out 14 months of production. In response, the company is reportedly speeding up production, with all 70 cars expected to be built in 2006. Bscher also reported that 14 cars have been completed. It is not clear how many are in the hands of customers.

Maintenance will be possible at Bentley dealerships, but repair service will require a flown-in mechanic, whom the company promises will be available 24 hours a day.


Final Number
Numbers are according to manufacturer, and may be significantly different from tested performance. See [4]

Vehicle type: mid-engine, all-wheel-drive, 2-passenger, 2-door coupe
Base Price: € 1,127,210 (£757 359, $1,440,800)
Engine type: quad-turbocharged and intercooled DOHC 64-valve W-16, aluminium block and heads, direct fuel injection
Displacement: 7993 cm³ (488.8 in³)
Performance Ratings as Tested :


Zero to 60 mph (97 km/h): 2.5 s
Zero to 100 mph (161 km/h): 5.5 s
Zero to 150 mph (241 km/h): 9.8 s
Zero to 200 mph (322 km/h): 19.5 s
Zero to 250 mph (402 km/h): 55 s [5][6]
Zero to 100 km/h: 2.5 s [7]
Zero to 200 km/h: 7.4 s [8]
Zero to 300 km/h: 18.2 s [9]
Zero to 400 km/h: 55 s [10][11]
Top speed (Handling Mode): 233 mph (375 km/h)
Top speed (Electronically Limited): 253.2 mph (407.5 km/h)[12]
Theoretical Top Speed (Drag Limited): 257 mph (414 km/h) [13]


0-100-0mph / 0-160-0km/h: 9.9 s [14]
Standing Quarter-Mile / 402 Meter: 10.2 sec @ 143 mph / 230 km/h [15]
Fuel economy[16]:


EPA city driving: 7 mpg U.S. (34 L/100 km)
EPA highway driving: 10 mpg U.S. (24 L/100 km)

Read More..

The Most Expensive Yatch

This exquisite yacht was pronounced the 11th largest private yacht in the year 2006 in Monte Carlo, Monaco. It is owned by Nasser Al-Rashid, a multi-millionaire businessman in Saudi Arabia.
Features
Launched in 1990 and with a length of 105 m the "Lady Moura" is the result of four years of teamwork between the Italian designer and architect Luigi Sturchio and Blohm + Voss. Both the interior and exterior design were conceived by Luigi Sturchio, whereas Blohm + Voss was responsible for engineering [1].
The Lady Moura is 354 feet long and has its own private Sikorsky S76B helicopter on board. It was a customized job ordered by Nasser Al-Rashid, who still owns her to date.
Lady Moura is reputed to have cost in excess of $200 million, carries a crew of 60, and incorporates features such as a complete beach resort with sand, a large pool with a retractable roof, and a 75ft dining table custom-made by Viscount Linley[2].
The furniture for the owner and guest area was prefabricated in Italy and installed in Hamburg under the supervision of Luigi Sturchio. The crew accommodation formed part of Blohm + Voss' scope of supply.
The Lady Moura is usually seen moored at the Monaco harbor during the summer months or Palma de Mallorca during Spring and Fall.
[edit] Characteristics
Both the hull and the superstructure are made of steel. The propulsion plant consists of two KHD-MWM diesel engines, each with a power of 5050 kW (over 6700 bhp), and controllable pitch propellers producing a speed of over 20 knots. A crafty hydraulically-operated system of shell ports, doors, flaps, roofs, bath platforms, gangways and cranes provide the most possible ease of operation and comfort. Even the boats, anchors, liferafts and navigation lanterns are hidden behind covers and do not disturb the aesthetics of the yacht.

Characteristics:
Length overall: 105 m
Breadth: 18.5 m
Draught: 5.5 m
Speed: 20 kn
Yacht name: Lady Moura
Length: 344 ft - 105.8 m
Launch: 1990
Owner: Nasser Al-Rashid (ex-wife owns Phocea (Yacht))
Builder: Blohm + Voss, Germany
Naval architect: Luigi Sturchio - Diana Yacht Design
Hull: Steel
Engines: 2 x 6,868 hp Deutz-MWM
Tender: On board helicopter
10th largest "private yacht" in 2005
Photo date: June 15, 2005 19:11:07
Locations: Monaco, Palma de Mallorca

Read More..

Top 10 Things to Know About Life Insurance

We all recognize the importance of life insurance. After all, we want to make sure that our loved ones are taken care of when we die. But before you run out and purchase a policy, do some research ahead of time. That way, you'll be sure to get the best possible coverage at the right price. Here are some helpful tips to get you started:

1. Shop around
2. Never buy more coverage than you need
3. The healthier you are, the better the rates

4. Buy sooner rather than later
5. Realize the importance of periodically reviewing your coverage
6. You don't necessarily have to pay a commission
7. You may be paying more for monthly premium payments
8. Don't rely solely on the life insurance offered by your employer
9. Tell the whole truth and nothing but the truth
10. Buying more is sometimes cheaper

Shop around
When it comes to life insurance, it pays to shop around because premiums can vary widely. And thanks to the Internet, it's now easier than ever. Try out one of the many insurance websites that can provide you with instant quotes. Make sure the website you shop from takes into consideration the factors in your medical history that can affect the premiums.

Never buy more coverage than you need
The key to purchasing the right amount of life insurance is to have just enough coverage to meet your needs. If you have more life insurance than you need, you'll be paying unnecessarily for higher premiums. On the other hand, it's important not to have too little coverage, resulting in you being underinsured.

The healthier you are, the better the rates
It's true – healthy people get better rates on life insurance. You will be asked to pay a higher rate for anything that shortens your life expectancy (e.g., if you smoke, take medications regularly, are overweight, have a bad driving record).

Buy sooner rather than later
If you've been putting off purchasing life insurance because you don't want to pay the premiums, you may be doing yourself a disservice in the long run. The younger you are when you purchase life insurance, the lower your premiums will be.

Realize the importance of periodically reviewing your coverage
Any life change signals the need for a review of your overall financial plan. When it comes to life insurance coverage, you'll want to make sure that this major life event (e.g., birth of a child, children are grown) won't leave you underinsured or overinsured.

You don't necessarily have to pay a commission
One of the reasons for higher premiums is that most life insurance policies pay commissions to the agent/broker. However, you may be able to purchase a no-load policy through an insurer that sells no-load policies directly to consumers.

You may be paying more for monthly premium payments
You may not realize it, but you may be paying more for your life insurance if you pay your premium in monthly installments. Many insurance companies charge extra fees if you make monthly premium payments instead of paying the annual premium.

Don't rely solely on the life insurance offered by your employer
Many employers offer their employees some sort of group life insurance. But this amount of coverage is usually not enough to adequately meet your life insurance needs. In addition, group life insurance policies are not portable, meaning that if you leave your job, you can't take your life insurance coverage with you.

Tell the whole truth and nothing but the truth
If you're thinking about lying on your insurance application, think again. If your insurance company finds out that you lied about a health-related condition or your lifestyle (e.g., smoking habit), they may be able to terminate your coverage.

Buying more is sometimes cheaper
Life insurance usually costs less per thousand dollars once you get into higher coverage amounts (e.g., $250,000). If the numbers work out, you may be able to pay a lower premium while increasing your coverage.

Please note that this description/explanation is intended only as a guideline.

Read More..

Learn about Option Trading

What is Stock Option?


A stock option is a contract that gives the buyer of the contract the right, but not the obligation, to buy or sell a security at a certain price (i.e. strike price) on or before a certain date (i.e. expiration date).

After this expiration date, the option would cease to exist. In the US market, stock options expire on the third Friday of each expiration month. If that Friday is a holiday, then the options expire on Thursday.

Note:
Stock option here does not refer to the Employee Stock Option, but to exchange-traded option.
Here are the differences between Employee Stock Option and exchange-traded option.

Employee Stock Option:
Issued & granted by a company to an employee, generally to reward the employee’s contribution & loyalty.
Long term expiration period (like 5 to 10 years) so as to cultivate loyalty among the employees.
Not transferable (Cannot be sold or traded to a third party).

Exchange-traded Stock Option:
Not issued by the company itself, but by OCC (Options Clearing Corporation).
Shorter expiration, usually only a few months (except for LEAPS). LEAPS (Long-Term Equity Anticipation Securities) is an option contract with a very long expiration period (9 months or more).
Can be traded (bought or sold) at any time before expiration. For more information click this link

Read More..