Shoppers welcome holiday sales by buying early, often — and online

Shoppers swooped into stores in droves on Thanksgiving weekend, topping last year’s sales, as more retailers opened their doors earlier than ever on Thursday, luring bargain hunters away from eating another plate of turkey.

And now Cyber Monday is expected to set a record for online shopping this year, for those who prefer the Internet to the mall.

Spending per shopper nationwide averaged $423 — $25 more than last year — from Thursday to Sunday, while total spending increased nearly 13 percent, to an estimated $59.1 billion, according to a survey by the National Retail Federation.

“I think the only way to describe the Thanksgiving openings is to call it a huge win,” said Matthew Shay, the trade group’s president and chief executive. Shopping, he said, “has really become an extension of the day’s festivities.”

South Florida was no exception, as a flurry of stores, as well as several malls, opened on Thanksgiving. Thursday has seemingly become the new Black Thursday, taking a bite out of the old-fashioned kickoff day of the holiday, Black Friday.

“We had an excellent weekend,” said Humberto Maldonado, director of marketing for Dadeland Mall, which opened at midnight on Thursday. Sales figures are not yet in, but the overall trend was up from last year, he said Monday.

“It was really busy from midnight to 5 a.m., then it slowed, and picked up again at 7 a.m. or 8 a.m., and stayed busy all day on Friday,” Maldonado said.

Nationwide, about 35 million people visited stores and shopping websites Thursday, up from 29 million last year. More than double that number — 89 million, up from 86 million — shopped on Black Friday.

“There were more people shopping every single day of the weekend,” Shay said.

Topping off the weekend, Cyber Monday’s early results, tabulated at 3 p.m. Monday, showed that online shopping was up a whopping 25.6 percent compared with the same time period a year ago, according to figures by IBM Benchmark.

Nationwide, most of the weekend’s shoppers — roughly 58 percent — bought clothing and accessories. Another 38 percent bought electronics and 35 percent shelled out for toys, National Retail Federation figures show.

Retailers made an effort to lure people in, with updated mobile shopping applications for smartphones and tablets, and expanded shipping and layaway options.

Still, it remains to be seen whether increased sales over the Thanksgiving weekend will translate to higher sales throughout the holiday shopping season. Analysts have been predicting mediocre sales this year, nationwide, as shoppers remain uncertain about the broader economy. Overall holiday sales are expected to increase 4.1 percent from 2011, compared with sales growth of 5.6 percent last year, the National Retail Federation said.

However, Florida is expected to beat those figures. Buoyed in large part by tourists and snowbirds, the Florida Retail Federation is forecasting a 5.3 percent gain this year over last, to $58 billion, marking the highest percentage growth predicted since the recession. Pre-recession, retail sales peaked at $54.3 billion in 2006.

Christian Cutillo, 26, of Weston, hit Walmart, then Sears, Target and Old Navy after eating Thanksgiving dinner.

She began at 7:30 p.m. Thursday and by 3 a.m. Friday she had finished shopping for all 15 people on her list, mostly buying clothing and toys.

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Police seize haul of bogus lobster tags

An ongoing investigation into an elaborate scheme to counterfeit state-issued tags for spiny lobster traps has pulled in a second suspect.

Jesus Alonso Perez, 51, of Miami was charged with possession of phony trap tags after his arrest last week by Florida Fish and Wildlife Conservation Commission officers in Miami-Dade County.

Perez is the first person arrested in the case since Ramon Rojas, 44, of Hialeah was arrested on Monroe County and Miami-Dade warrants earlier this month.

Rojas has been charged with dozens of conservation counts for possessing and using fake trap tags, and fishing traps without required state certificates. A handful of Rojas' personal traps bearing counterfeit trap tags were hauled from water off Big Pine Key before his arrest.

"During the investigation, we were able to determine [Rojas] actually was in the midst of selling some of these counterfeit tags and ended up selling 100 at $50 a pop," said FWC Officer Jorge Pino, an agency spokesman. "We knew some of these tags were being used already."

The case could lead to additional state and federal counts.

Investigation started June 29 when U.S. Customs and Border Patrol agents intercepted a suspicious package shipped to Florida from Colombia.

Inside the package were 1,512 yellow plastic tags bearing serial numbers and state identification. The package was passed along to federal wildlife officers, who forwarded it to the FWC.

"To an untrained eye, they might have looked like real tags but our inspector immediately identified the tags as counterfeit," Pino said. "Not to mention, they were coming into Florida from Colombia."

The package was re-sealed for delivery, with FWC officers keeping watch. Other details on the investigation are still considered confidential.

"We've seen counterfeit trap tags before so that wasn't a surprise," Pino said. "We were a little surprised at the lengths he went to, going to another country to get this many."

"This goes contrary to everything the FWC is trying to achieve as a conservation agency in terms of protecting the resource," Pino said. "Putting what could have been a large number of illegal traps in the water has the potential to do a lot of damage."

Trap tags have been required by the state since 1992 as part of an effort to control and reduce the number of traps used by Florida commercial fishermen. Currently about 490,000 tags are issued annually, down from a peak of 750,000. Lobstermen receive an allocation of tags based on their history of commercial trap harvests.

People who want to enter the fishery or increase their trap numbers must buy trap certificates, which include the right to buy trap tags, from other fishermen. A tag itself costs only $1 each from the state but certificates can sell for more than $100 each.

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Grammys Flashback: Aerosmith 1995

Aerosmith has etched itself into rock music history through its many years in the business, but it hasn't always been a smooth road for the band. In 1995, after Aerosmith had just won its third Grammy, the band reflected on the turbulent journey they had led.

Following their soaring launch into the music industry in the '70s with five platinum albums, Aerosmith suffered a rift in the band that wasn't emanating from Joe Perry's guitar. Perry left the band and formed his own project in 1979, which didn't bode well with fans.

VIDEO: Aerosmith Releases First Music Video in 8 Years

The band got together five years later, and was able to recapture its deep fan base after a few albums. Almost a decade after reuniting, Aerosmith put out Get a Grip, which earned it the Best Rock Performance Grammy in two consecutive years. After receiving the award for "Crazy," lead vocalist Steven Tyler and drummer Joey Kramer reflect on the band's schism.

"We got a good chance to see what it was that breaks bands up and how foolish it is [because] the music is the biggest thing," Tyler says in the pressroom following the award. "When we get five guys together and they can create something like a song or an album or a good time, you don't want to kill that for any reason."

VIDEO: Aerosmith Talks Global Warming Tour

"The ironic thing is that we were the last ones to know about it, about how it felt," Kramer adds.

In 2009, nearly fifteen years after the band had professed that it had learned its lesson, Aerosmith quaked again from another rift involving Perry. Tyler was then nearly replaced as lead singer, but all was eventually amended.

VIDEO: Aerosmith Rocks Out, Steven Tyler Chews Mic

All bridges magically remained intact and the band recently put out its fifteenth studio album, Music From Another Dimension!.

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Cyber Monday likely to be the year's busiest online sales day

AP

Cyber Monday is likely to be the year's busiest online sales day.

Bye-bye Black Friday. So long Small Business Saturday. Now, it's Cyber Monday's turn.

Cyber Monday, coined in 2005 by a shopping trade group that noticed online sales spiked on the Monday following Thanksgiving, is the next in a series of days that stores are counting on to jumpstart the holiday shopping season.

It's estimated that this year's Cyber Monday will be the biggest online shopping day of the year for the third year in a row: According to research firm comScore, Americans are expected to spend $1.5 billion, up 20 percent from last year on Cyber Monday, as retailers have ramped up their deals to get shoppers to click on their websites.

Amazon.com, which is starting its Cyber Monday deals at midnight on Monday, is offering as much as 60 percent off a Panasonic VIERA 55-inch TV that's usually priced higher than $1,000. Sears is offering $430 off a Maytag washer and dryer, each on sale for $399. And Kmart is offering 75 percent off all of its diamond earrings and $60 off a 12-in-1 multigame table on sale for $89.99.

Retailers are hoping the deals will appeal to shoppers like Matt Sexton, 39, who for the first time plans to complete all of his holiday shopping online this year on his iPad tablet computer. Sexton, who plans to spend up to $4,000 this season, already shopped online on the day after Thanksgiving known as Black Friday and found a laptop from Best Buy for $399, a $200 savings, among other deals.

"The descriptions and reviews are so much better online so you can compare and price shop and for the most part get free shipping," said Sexton, who lives in Queens, N.Y., and is a manager at a utility company.

Sexton also said that it's easier to return an online purchase to a physical store than it had been in previous years. "That helps with gifts," he said.

How well retailers fare on Cyber Monday will offer insight into Americans' evolving shopping habits during the holiday shopping season, a time when stores can make up to 40 percent of their annual revenue. With the growth in high speed Internet access and the wide use of smartphones and tablets, people are relying less on their work computers to shop than they did when Shop.org, the digital division of trade group The National Retail Federation, introduced the term "Cyber Monday."

"People years ago didn't have ... connectivity to shop online at their homes. So when they went back to work after Thanksgiving they'd shop on the Monday after," said Vicki Cantrell, executive director of Shop.org. "Now they don't need the work computer to be able to do that."

As a result, the period between Thanksgiving and Cyber Monday has become busy for online shopping as well. Indeed, online sales on Thanksgiving Day, traditionally not a popular day for online shopping, rose 32 percent over last year to $633 million, according to comScore. And online sales on Black Friday were up 26 percent from the same day last year, to $1.042 billion. It was the first time online sales on Black Friday surpassed $1 billion.

For the holiday season-to-date, comScore found that $13.7 billion has been spent online, marking a 16 percent increase over last year. The research firm predicts that online sales will surpass 10 percent of total retail spending this holiday season. The National Retail Federation estimates that overall retail sales in November and December will be up 4.1 percent this year to $586.1 billion

But as other days become popular for online shopping, Cyber Monday may lose some of its cache. To be sure, Cyber Monday hasn't always been the biggest online shopping day. In fact, up until three years ago, that title was historically earned by the last day shoppers could order items with standard shipping rates and get them delivered before Christmas. That day changes every year, but usually falls in late December.

Even though Cyber Monday is expected to be the biggest shopping day this year, industry watchers say it could just be a matter of time before other days take that ranking.

"Of all the benchmark spending days, Thanksgiving is growing at the fastest rate, up 128 percent over the last five years," said Andrew Lipsman, a spokesman with comScore.

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Shifting tides of Panama real estate echo Miami trends

PANAMA CITY, Panama — As a real estate agent shows off a model apartment — white leather sectional, stainless steel appliances, open concept, ocean views — in the 59-story Yacht Club Tower, and touts its fitness center and pool deck designed to mimic a ship floating on the sea, he makes a telling statement:

“We tried to emulate the Miami style in this building.”

Approaching this Central American capital from the air, the first thing a traveler notices is a skyline on steroids — gleaming towers jutting skyward like so many pickets on a fence. There’s even a Trump high-rise here — the sail-shaped 72-story Trump Ocean Club International Hotel & Tower. And it’s not uncommon for those active in Miami real estate and development circles to try their luck in Panama or move back and forth between the markets.

Although Miami is nearly 1,200 miles from Panama City, the real estate markets of the two cities share certain similarities. Both went through booms and overbuilding and then had way too many empty condominiums. Wealthy Latin American buyers were a salvation in both cities when traditional segments of the market fell off.

“Now that things are starting to pick up in the States, they are picking up here too. Now that there’s not as much economic uncertainty in the United States, people feel more confident about Panama too,’’ said Morris Hafeitz, general manger of Emporium Developers. He used to work in Miami as a project manager for Odebrecht, the Brazilian conglomerate.

Now Hafeitz is trying to sell Allure at the Park, a 50-story building Emporium developed in Panama City’s Bella Vista neighborhood. The building is chock full of amenities — gym, teenage game room, adult lounge, toddler playroom, pool, squash court and even miniature golf on the roof — but one of its main selling points is that it overlooks a park and two low-rise historic buildings. “In the heart of the city without the hassles of the city,’’ said Hafeitz.

During the boom, many buildings in central Panama City went up practically on top of each other. “In the beginning of the boom there were no regulations on density,’’ said Mauricio Saba, a project manager at Zoom Development in Panama City and another Miami real estate alum. “I have a friend who said he could watch his neighbor’s TV from his balcony.’’

Margarita Sanclemente, a Miami real estate broker with offices in Panama City and New York, has seen it all — the boom, the irrational building and the slowdown — and has stuck with the Panamanian market.

She first ventured into Panama in 2005. The Panamanian real estate market, which had been sluggish for more than a decade, was undergoing a rebirth and Americans, lured by low prices and the low cost of living, were snapping up properties.

The sweet spot was the 1,000 to 1,500-square-foot apartment, sans maid’s quarters, which appealed to retirees from Canada and the United States, she said.

That was back when Americans still believed you couldn’t go wrong with real estate. “Some of the buyers didn’t even see the units. We sold them by phone,’’ Sanclemente said. Condo prices at new buildings such as Destiny averaged $98 to $120 per square foot. She herself bought a 1,000 square foot, one bedroom condo for $123,000 back in 2005.

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Never mind shopping; Messiah concert marks start of holiday season

Participating in the annual Messiah sing-in, always made me feel like the Season had begun. I was a member of the community chorus for many years, under the late Dr. Lee Kjelson. It was a wonderful feeling, singing the words from the Bible that foretold the coming of Jesus. Now, decades later, the Messiah sing-in tradition is still going strong.

At 2:30 p. m. on Dec. 9, the Miami Dade College Kendall Campus will present the Civic Chorale of Greater Miami in the 41st Annual Messiah Sing-in at Old Cutler Presbyterian Church, 14401 Old Cutler Rd. in Palmetto Bay. Dr. Kenneth Boos is the artistic director of this time-honored event, and Robert Gower and John Guarente are the conductors. Jay Brooks is the organist. The singers will be backed by the Alhambra Orchestra, conducted by Alfred Gershfeld.

The program will feature the Chorale in a brief concert featuring original works and familiar classical selections. Following the concert, community singers are invited to join the Chorale in the singing of the Christmas sections of Handel’s beloved Messiah.

Founded by Kjelson, the Civic Chorale has been a vital part of the South Florida musical community since 1970. the group is comprised of students and adult members of the community, who share a love for singing and musical excellence. The Chorale is housed at Miami-Dade College Music, Theater and Dance Department, at the Kendall campus. Rodester Brandon is the chairperson.

Singers are asked to bring their own Messiah score, if possible. A limited number will be available for use on the day of the concert.

This is the way it works: Rehearsal for participating singers will be at 2:30 p.m., followed by the concert at 4 p.m. Admission is free, but a goodwill offering will be collected. This year, Miami food trucks will be at the event.

For more information, contact Phee Price, executive director of the Chorale at 305-490-5930 You may also visit the Chorale’s website at, www.civicchorale.info.

String quartet goes to Washington

Congratulations to Miami pianist Alan Mason and Florida International University’s Amernet String Quartet, who on Dec. 6, will perform at the Kennedy Center in Washington.

Mason is an associate professor of music at Barry University and the Amernet String Quartet is in residence at FIU. The musicians will perform in a concert called "From Psalm to Lamentation: A Concert of Cantorial Masterpieces," presented by Pro Musica Hebraica, an organization that was created by Pulitzer Prize-winning columnist Charles Krauthammer and lawyer-turned-artist Robyn Krauthammer to present three concerts a year featuring the music of Jewish composers. .

The Dec. 6 concert will pay homage to the golden age of cantors and to the liturgical music of modern times and will feature Cantor Netanel Hershtik and the Hampton Synagogue Choir.

In addition to the Kennedy Center performance, the concert will be presented on Dec. 2, at New York’s Museum at Eldridge Street.

Mason is the music director of Temple Israel of Greater Miami and has performed at the White House, Lincoln center and Carnegie Hall. He has also performed in Rome, the United Kingdom and Israel. He is a leading accompanist of Jewish music and also serves as the program director and accompanist of the Winter Jewish Music Concert presented annually here in Miami. that concert will be on Jan. 19, and will be broadcast live on the JLTV cable network.

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Saudi telco regulator suspends Mobily prepaid sim sales

(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.

Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.

These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.

This measure is designed to ensure customer account details are kept up to date, the CITC said.

Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.

The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.

Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.

Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.

Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.

(Reporting by Matt Smith; Editing by Dinesh Nair)

Tech News Headlines – Yahoo! News

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Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

Video: Larry Hagman Talks 'Dallas', Cancer and Veganism

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's rep says the late actor will be cremated.

His Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray told ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

"Friday I lost one of the greatest friends ever to grace my life. The loneliness is only what is difficult, as Larry's peace and comfort is always what is important to me, now as when he was here," Duffy said in a statement. "He was a fighter in the gentlest way, against his obstacles and for his friends. I wear his friendship with honor."

Victoria Principal, who played Pamela Barnes Ewing, added, "Larry was bigger than life ... on screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him. Look out God ... Larry's leading the parade."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

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Bond bubble bust

Jonathon M. Trugman

There goes the nest egg.

There’s a record $16.3 trillion of US debt and a good portion of that is sitting in baby boomers’ portfolios like a ticking time bomb ready to explode, and most investors know little about it.

“It’s my worst nightmare,” says a long-only bond fund manager. “There’s nothing I can do — the checks come in [from clients] every day, and I have to invest it.”

With Ben Bernanke’s debt paper floating through the market and the Fed chief vowing to keep rates low until 2015, some bond managers are hoping to get out before the bubble bursts and Armageddon hits.

And rates would not have to go through the roof to take out billions in principal for investors, most of whom are in bonds because they are nearing retirement.

“If the 10-year [bond] goes up 100 basis points, that could mean more than $35 billion is lost,” says one bond trader.

One hundred basis points is just a 1 percent increase, which would put the 10-year at about 2.6 percent. The average rate of return over the last decade is roughly 4 percent, which, if we return to that yield, could put principal losses close to $500 billion, says a bond manager.

Bond prices (your principal) and interest rates (yield) move in opposite directions. When rates rise, bond prices fall. The inverse is, of course, true as well. When rates fall, the price (your principal) of the bond rises.

The problem today is that short-term Federal Reserve funds rates are pegged at zero percent. In addition, the Fed’s irresponsible bond-buying spree, dubbed QE, has driven even long-term rates insanely low, to 1.5 or 1.6 percent on the 10-year Treasury.

Without rewriting arithmetic, rates have nowhere to go but up — and, eventually, up quite a bit. And the principal invested in bonds will fall substantially.

Most older Americans have done their part, putting away a little bit each month towards their retirement, cutting back on household budgets and selling their riskier equity investments in favor of “safer” US Treasury bonds.

Well, that’s where they may have gone wrong. While most financial advisers still steer their near-retirement clients into bond funds, these are extraordinary times where the latest bubble — bonds — is about to explode, just like the two previous bubbles.

The Fed’s bizarre move “forward” into a massive multitrillion-dollar bond-buying binge has left all investors more vulnerable today than they were in 2000 after the Internet bubble, or the housing-bubble bust in 2008.

Investors implicitly understood that there were certain levels of risk inherent in Internet/technology stocks in the beginning of the dot-com economy, where an idea and a sock puppet could garner a $100 million market cap. The same applied a few years later, when investors saw the price of their homes double over three years on nothing more than easy credit and lax regulator supervision.

But sadly, few Americans understand just how risky bonds are at this very moment. For generations, investors have looked to US bonds/Treasuries as “low-risk” savings instruments, almost like a bank CD. Bond losses were always something that happened in other countries like Argentina, Greece or Portugal, not America.

It is not as complicated as some would pretend, but it is extremely important for all to understand — especially those planning on retiring soon. Pension plans, 401(k)s, annuities, IRAs — retirement vehicles have never been more at risk than they are now.

Most Americans don’t spend their time trying to comprehend the likes of quantitative easing or yield curves. That’s what the bureaucrats get paid for.

However, everyone recognizes that they earn next to nothing on their money today, either in the bank or in other interest-rate-based products like bonds and money-market funds.

They also know that “something” is clearly not right. That intuitive “something,” that recognition, is all-telling. The Fed has forced the bond market into unchartered and very unsafe waters.

With Social Security, Medicare and Medicaid all on the chopping block because Washington overspent and mismanaged itself, retirement savings are even more important.

So after manipulating the bond market to bubbly levels that even Dom Perignon would be proud of, we have virtually no economic benefit to show for it.

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Is the electric car dying again?

A second administration of President Barack Obama will be forced to revisit the issue of subsidies for renewable energy and, with it, those for electric vehicles. Despite the millions of dollars spent on government incentives, marketing and promotion, sales of fully electric cars are well below projected targets. Investment in vehicle charging infrastructure also has fallen victim to budget cutbacks, limited usage and concern over the return on money spent.

Indeed, only last month, a leading automotive battery manufacturer, A123 Systems, was forced to declare bankruptcy. And the founder and CEO of Better Place, Shai Agassi, whose company (in which I was employed) promotes all-electric vehicles with batteries that can be both charged and replaced, was himself replaced due to low sales figures and high capital expenses arising from the deployment of battery-switching stations.

As a result, the question is now being raised: Are we again bearing witness to the death of the electric car?

Any such conclusion over the longer term may be premature. With declining costs and gradually improving technologies that can extend battery range beyond its current limitations, the electric car continues to hold promise. Rising gasoline prices and potential disruptions in oil supply favor alternative sources of energy.

To achieve mass market adoption, however, cars running on electricity — or any other alternative energy source — must satisfy the three “C’s”: cost, convenience and connectivity.

Few buyers are able or willing to pay more for a car running on clean energy unless the upfront cost of the car roughly equals or is below its carbon-powered alternative. Advertised savings over time in powering a car using alternative “fuels” so far have failed to persuade the average driver to buy. And while government subsidies play a role in reducing initial costs to consumers, such incentives so far have not been sufficient to attract large numbers of drivers to switch to electric vehicles.

Cars driven solely or partially by electricity or other alternative energies also must be at least as convenient as those powered exclusively by internal combustion engines. Drivers appear unwilling to sacrifice the expected hundreds of miles in driving range between refuelings. Likewise, drivers demand refueling times equal to what they are accustomed — about five minutes at the gasoline station.

Further, there must be adequate infrastructure in place to enable large numbers of drivers to connect to an alternative energy source before that source can be widely adopted. While a scattering of drivers simultaneously connecting to a power grid may not have much impact, large numbers of drivers doing so can cause major power outages that escalate absent the real-time balancing of energy loads across the network. Moreover, the environmental impact of the connected cycle between car and infrastructure, often referred to as the “well-to-wheel” balance, has to result in less pollution overall for alternative energy vehicles to achieve significant market traction.

Until the fully electric car can satisfy all three C’s, any assessment of projected vehicle sales must reflect a variety of energy sourcing options, both traditional and alternative, all competing for market share.

Gasoline and diesel likely will remain the predominant source of energy in the foreseeable future for new car buyers, with hybrid vehicles that run on both petroleum and alternative energy sources taking an increasingly larger share of the market. Although more costly than pure gasoline-driven cars, hybrids do offer a more environmentally friendly solution and provide the driving range demanded by car buyers.

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