| By Edd Straw | Tuesday, April 29th 2014, 15:41 GMT |
Valtteri Bottas believes the Spanish Grand Prix will be key to the Williams team's hopes of continuing its strong start to the Formula 1 season.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Anderson | Tuesday, April 29th 2014, 15:18 GMT |
Nissan is confident that its ZEOD RC racer will hit its stated objectives in the Le Mans 24 Hours, including the first all-electric lap of the Circuit de la Sarthe.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Tuesday, April 29th 2014, 15:27 GMT |
Sage Karam has signed a multi-year driver development deal with Chip Ganassi Racing; an arrangement that will begin with the reigning Indy Lights champion entering this year's Indianapolis 500
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Monday, April 28th 2014, 14:52 GMT |
Toyota will run its two TS040 HYBRIDs in low-downforce Le Mans configuration in this weekend's Spa World Endurance Championship event.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Charles Bradley and Jonathan Noble | Monday, April 28th 2014, 16:26 GMT |
Alain Prost thinks the engine battle between Renault and Mercedes could be transformed in a few races, opening up the fight for victories in Formula 1
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Monday, April 28th 2014, 19:26 GMT |
Former Audi factory driver Pierre Kaffer will return to the Risi Competizione Ferrari squad for this weekend's Lagnua Seca round of the United SportsCar Championship.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Sunday, April 27th 2014, 17:49 GMT |
Gabby Chaves secured the win in a processional second race of this weekend's Indy Lights double-header at Barber
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Sunday, April 27th 2014, 17:45 GMT |
Marc Marquez continued his unbeaten MotoGP run by coming from seventh to first at Termas de Rio Hondo in Argentina.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Sunday, April 27th 2014, 23:35 GMT |
Ryan Hunter-Reay led Marco Andretti across the line for an Andretti Autosport 1-2 in a rain-delayed and shortened IndyCar race at Barber.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Saturday, April 26th 2014, 18:56 GMT |
Cosworth says that it is continuing to make progress with its efforts to return to IndyCar, and that further meetings with potential manufacturer partners could take place as early as next month
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Saturday, April 26th 2014, 17:58 GMT |
Marc Marquez stormed to his third consecutive pole position as he secured the top spot in qualifying for Argentina's MotoGP at Termas de Rio Hondo
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Saturday, April 26th 2014, 20:14 GMT |
Will Power edged out James Hinchcliffe to secure pole position for Sunday's IndyCar race at Barber
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
Ford Motor CEO Alan Mulally will leave the company with stock and options with him that today are worth nearly $300 million.
NEW YORK (CNNMoney)
Such a compensation package is unusually large for a CEO at an old-line industrial company with less than a decade on the job. Eye-popping CEO pay is more typically found at tech companies or on Wall Street.
Mulally's Ford holdings are bigger than that of chairman William Ford Jr., the great-grandson of founder Henry Ford.
Mulally, 68, has accumulated 6.2 million shares of company stock, according to government filings.
In addition, he's due to get another 1.8 million shares in coming years, though he's likely to sell about a third of those shares to pay taxes.
And he has 17.7 million stock options to buy shares at reduced prices that he has yet to exercise.
Together, those nearly 25.7 million shares are worth $419 million based on Thursday's closing price for Ford. However Mulally would need to spend almost $130 million to exercise stock options. That leaves him with a net gain of $289 million on his Ford shares at current market value.
Even that may be a conservative estimate. Ford gives valuations for stock options based on assumptions about share prices years in the future. Some of those estimates are far above current values.
Related 12 top paid CEOs
Whatever the gain that Mulally eventually receives on those shares, much of it is due to the strong performance of Ford (F, Fortune 500)shares during Mulally's tenure. Shares fell as low as a $1.39 a share in November 2008, and are now above $16.
Under Mulally's leadership, Ford was able to avoid the bankruptcy and subsequent bailout that wiped out shareholders at General Motor (GM, Fortune 500)and Chrysler Group.
The company shed weaker brands such as Volvo, Land Rover and Mercury, revitalized the lineup at its core Ford brand and conserved enough cash to ride out the recession.
Since then it has come back stronger than ever. Ford earned $7.2 billion in 2013. Profits were healthy enough to pay all the hourly factory workers a record profit-sharing bonus of about $8,800 each.
The company recaptured its position as the No. 2 automaker in terms of U.S. sales from Toyota, behind only GM.
Related: Ousted Yahoo executive gets $58 million golden parachute
During his tenure at Ford, Mulally received a total base salary of $13.5 million, and cash bonuses of $30.8 million. That gave him a total of $44.2 million in cash through the end of last year.
He also sold more than $68 million in stock during the past five years to generate cash needed to pay taxes and exercise stock options.
Mulally will also receive a lump-sum retirement payment equal to four times what Ford has already contributed to his retirement plan.
The company said Mulally's compensation has been in the best interest of shareholders.
"Ford had record profits in North America and Asia Pacific last year, which helped propel the company to one of its best-pre-tax operating profits in its history," said spokeswoman Susan Krusel.
"We believe strongly in aligning executive compensation with the company's business performance and long-term shareholder value. That's why almost 90 percent of Alan's compensation is performance based." 
First Published: April 25, 2014: 8:22 AM ET
A rendering of a U.S. Taco Co. shows an eatery that could compete with chains like Chipotle and Qdoba.
NEW YORK (CNNMoney)
How far is Taco Bell branching out? The Mexican Car Bomb isn't even a taco. It's a vanilla shake with Guinness, tequila caramel sauce and chocolate flakes.
U.S. Taco Co, set to open in Huntington Beach, Calif., this summer, with a taco-focused menu -- but not the same tacos you can buy for a buck or two at Taco Bell.
The "Brotherly Love" will be like eating a Philly cheese steak stuffed inside a flour tortilla. The "Winner Winner" adds a southern twist, with crispy chicken and gravy.
The southern California location is a test-run, but it could be the first of dozens across the country, Taco Bell CEO Greg Creed told the Orange County Register.
The eatery won't offer Mexican restaurant favorites like burritos or tortilla chips, and instead it will sell steak fries with tacos.
Related: Why McDonald's is offering free coffee
U.S. Taco Co. aims to fit in with other "fast-casual" chains like Chipotle, Qdoba Mexican Grill and Panera, said Morningstar analyst R.J. Hottovy.
Those chains offer higher quality food at the same speed as a fast-food joint.
U.S. Taco Co's menu will offer steak fries and milk shakes along with tacos.
It's a growing industry so it makes sense that Taco Bell, owned by Yum! Brands (YUM, Fortune 500), would want to enter the field.
"The cost to operate isn't as high as casual restaurants, but they can still charge higher prices. It's very lucrative," Hottovy said.
The tacos will cost $4 at the new restaurant, while most cost under $2 at the nearly 6,000 Taco Bell locations in the United States.
First Published: April 25, 2014: 4:39 PM ET
This was a wedding suite for a couple outside New Orleans. Click for more photos.
NEW YORK (CNNMoney)
"Glamping" -- featuring roomy canvas tents, comfy mattresses and overhead lighting -- has gone mainstream and the businesses behind it are thriving.
It was something of a gamble when Patricia Jensen started ConTENTment Camping six years ago specializing in luxury tent rentals for weddings, private events and festivals. She spent more than $75,000 the first two years to create what she refers to as pop-up hotels -- buying large, custom-made canvas tents, linens, beds, blankets and other furniture.
She quickly discovered that glamping has a universal appeal, particularly to travelers who don't want to assemble a tent or might not even own one.
Based in Buffalo, N.Y., ConTENTment leases semi-trailers to move tents across the country, something Jensen compares to the circus coming to town. Although the full-time staff is just herself and one other employee, her crew can grow into the dozens from May to September when the company is busiest.
The price -- and the experience -- can run the gamut. At Sturgis, the nation's biggest motorcycle rally, a night on a cot in one of Jensen's single-person tents costs just $65.50. Meanwhile at the Indy 500 (which makes its glamping debut this year), a tent with a queen bed will run you $1,100 for four nights.
And it's not just babyboomers with aching backs who want to glamp. At the Firefly Music Festival in Dover, Del., the glamping options sold out within weeks -- before any of the more standard options. And the average age of those glampers is 33. At $999 for four nights and five days, glampers who buy the "premium" package can stay in an air-conditioned tent with a queen bed and access to the glamping lounge and upgraded restroom trailers.
"I don't think you have to be a certain age to enjoy the outdoors and to appreciate being comfortable," said Jensen, whose business has grown from 20 to 400 tents.
Glamping's popularity has been building during the last four years -- even the Royal Couple spent a night in a lavish tent during a recent trip to Australia. It's helped companies like Davis Tent & Awning in Denver weather the recession.
Though glampers aren't a huge part of their customer base, they're significant because the tents often cost thousands of dollars.
To meet customers' needs, the company offers more luxurious materials, air conditioning vents and additional windows.
Related: 'Glamping' in style
Davis Tent even outfitted the San Diego Zoo with 44 canvas tents a few years ago for their Safari Park where people can pay to spend the night.
"It's one of the cooler projects we've done," said co-owner Roy Davis. "Some of my customers who spent thousands and thousands of dollars to go to Africa on safari said they could get kind of the same feeling [in California]."
Jensen's tent rental company isn't the only one enjoying the luxury ride. Outdoors Geek, also based in Denver, started renting standard camping setups in 2010 but quickly found that glamping rentals, particularly for music festivals, had huge potential.
"It will be our number one area of investment this year," said cofounder Will Marquardt. Last summer, Outdoors Geek needed 100 safari-style tents. This year they've added 120. He expects more competition.
"We're just trying to stay in front of it," Marquardt said. "There's a lot to being one of the first ones to the plate."
First Published: April 25, 2014: 6:23 AM ET
NEW YORK (CNNMoney)
That puts it in the ranks of the largest largest companies on U.S. stock exchanges -- call it the "varsity league" of stocks.
Under Armour (UA) stock has been on the kind of winning streak that the Yankees would envy. It has skyrocketed 850% over the past half-decade. It will replace Beam (BEAM) in the S&P lineup once the alcohol company's $13.6 billion buyout from Japan's Suntory Holdings is completed next week.
Related: Under Armour's crew of star athletes
But the Baltimore-based company didn't get much of a victory lap. Under Armour shares fell on Friday, which is somewhat unusual since new additions to the S&P 500 typically enjoy a bounce as funds that track the broad benchmark buy shares of the companies in the index.
The problem is the athletic-gear maker is a member of the "momentum crowd", a group of stocks that has quickly gone out of style on Wall Street as investors increasingly shift their money into stocks of more boring, but stable companies.
Under Armour experienced that shift first hand on Thursday, when the company's shares tumbled over 7% despite revealing a 73% leap in profits and indicting a lot of optimism about the rest of the year.
Still, the addition to the S&P 500 highlights the ability of Under Armour in recent years to challenge industry leaders Adidas (ADDDF) and Nike (NKE, Fortune 500), the latter of which was added to the even more exclusive Dow Jones industrial average in 2013.
Under Armour sports strong profit margins and impressive growth overseas, where sales surged 92% in the first quarter from the year before. The company has also boosted sales by expanding into new categories, including hunting and golf.
Earlier this year, Under Armour scored a 10-year deal to become the official sports apparel outfitter of Notre Dame's varsity teams. Terms were not disclosed but the blockbuster deal is estimated to be worth around $100 million.
So far Under Armour has been able to weather the storm stemming from the Winter Olympics, where the U.S. speed-skating team blamed the company's high-tech suits for slowing them down in Sochi. The speed-skating team even extended its exclusive contract with Under Armour.
Shares of Under Armour fell over 1.5% on Friday, trimming their 2014 gains to below 15%.
On the other hand, LinkedIn (LNKD) dropped about 5% as the professional social network was snubbed from the S&P 500 despite ample speculation earlier in the week that it would get the bid to join the lineup.
First Published: April 25, 2014: 11:44 AM ET
NEW YORK (CNNMoney)
A weekly collection of design, data and interactive links.
Design/Data viz
George and Jonathan | WebGL music videos
Restart Page | Reboot into the past
Responsive Design | The cassette tape as responsive design
Math Type | Typefaces based on problems of computational geometry
Jing Zhang | Three-dimensional illustrations and infographics
Photo/Video
Birds | A lighthearted essay on contextualized characters
Golf Balls | Golf balls cut in half
Tokyo Backwards | Filmed walking backwards and played in reverse
Damp Spirits | Animated short
Code
Maze Solver | D3 maze solver
GIve 'n' Go | A curated gallery of Dribbble shots reworked as interactive CodePen pens
Tools | Templates and design resources
See last week's links
Have a nice weekend!
@dubly and @talyellin
First Published: April 25, 2014: 10:05 AM ET
Ford posted lower earnings in the first quarter - its first drop since 2012.
NEW YORK (CNNMoney)
The company also fell below expectations set by Wall Street analysts for the first time since 2011. And it repeated its earlier guidance for lower pretax earnings for the year because of the cost of rolling out new models.
Ford (F, Fortune 500) shares, which have been performing much better than rivals General Motors (GM, Fortune 500) and Toyota Motor (TM) this year, were down in morning trading following the report.
Related: Reports - Ford decides on CEO succession
The company reported narrowly higher revenue and global auto sales. But the profit tumbled 39% to $989 million.
The drop was due to problems in its core North American auto operations, where pretax earnings fell by $892 million. The company partly blamed bad weather for slower sales. It also increased reserves for warranty work on prior year models, including those involved in recalls.
But North America wasn't the only problem; losses also increased in South America. All told, results in North and South America weighed against improved results in Europe, Asia-Pacific and the rest of the world.
Related: Ford's Mulally will leave with nearly $300 million nest egg
During a press conference following the results, CEO Alan Mulally declined to comment on reports that he is close to announcing plans to retire from the company. Ford had previously said Mulally planned to stay in the top job through the end of 2014.
First Published: April 25, 2014: 7:52 AM ET
LONDON (CNNMoney)
The agreement has unraveled quickly. Washington and Moscow are now accusing each other of failing to use their influence to implement the agreement in Ukraine, where violence between government forces and pro-Russian militants is escalating.
As tension rises, investors are again taking note, and events in Ukraine could have far reaching consequences. Here are 3 things to watch:
Western sanctions: The U.S. and Europe have already imposed sanctions over Russia's annexation of Crimea. The focus has been on freezing the personal assets and disrupting the travel plans of powerful figures close to President Vladimir Putin. Officials directly implicated in separating Crimea from Ukraine have also been targeted, and the U.S. has sanctioned one Russian bank.
Washington has signaled what will happen next if Russia escalates the crisis. President Obama signed an executive order in March giving the U.S. the power to sanction Russian companies in sectors such as financial services, energy, metals and mining, defense and engineering.
On their own, U.S. sanctions are likely to have little direct effect, and Europe is reluctant to take tougher measures because it has much more to lose in terms of trade, investment and financial exposure at a time of economic recovery.
President Obama discussed the crisis with the leaders of Germany, France, the U.K, and Italy on Friday.
They agreed to work closely together on additional steps to impose costs on Russia, the White House said in a statement, adding that the U.S. was prepared to impose targeted sanctions in response to Russia's latest actions.
Russia is already suffering, however. Investors at home and abroad are dumping ruble assets in fear of an escalation in the crisis. As a result, its $2 trillion economy is stalling and inflation is accelerating. It's becoming more expensive for the government and businesses to borrow -- the central bank hiked interest rates for a second consecutive month -- and the risks of a recession are rising rapidly.
Related: IMF slashes Russia growth forecast
Russian gas: Moscow could retaliate against new Western sanctions by cutting gas exports to Ukraine. Russian gas exporter Gazprom meets a third of Europe's gas needs, and about half of that is piped through Ukraine.
Russia has turned off the gas before, most recently in January 2009. But most analysts see a shutoff as a last resort given the impact it would have on the economy. Energy accounts for 70% of Russia's exports.
Still, Russia is increasing the pressure. Gazprom has jacked up the price it charges Ukraine by about 80% this month, and Putin has warned that supplies could take a hit unless Kiev starts making regular payments for gas and coughs up $2.2 billion in arrears.
Europe is looking at ways to pump gas to Ukraine through Poland and Slovakia, and prioritizing efforts to reduce imports of Russian energy. Many of those -- such as shale gas investment -- won't bear fruit for years, leaving countries such as Germany leaning heavily on Gazprom.
German Chancellor Angela Merkel and Putin discussed the Ukraine crisis Friday. Talks between Russia, Europe and Ukraine on gas supply could take place within days, Itar-Tass quoted a Russian official as saying.
Related: Russia looks to Asia for trade cushion
European economy: Energy is the single biggest risk for European growth. But car makers, brewers and oil companies also stand to lose from a trade war. Exports to Russia are worth about $170 billion a year, and 75% of all foreign direct investment in Russia originates in EU states.
Germany is most exposed. It is Russia's largest trading partner in Europe, and more than 6,000 German companies do business in the emerging market.
Some companies, such as German software group SAP, have already noticed slower business in Russia, but so far it has failed to put a lasting dent in business or investor confidence in Europe's biggest economy. That could change.
"More than actual trade losses, a consequent confidence shock could halt the recovery, especially in Germany, at least temporarily," wrote Berenberg economists.
First Published: April 25, 2014: 10:26 AM ET
Many middle-class Americans are living paycheck to paycheck.
NEW YORK (CNNMoney)
They have decent salaries. Many own homes and have retirement accounts. But they don't have a lot of savings or readily accessible funds, according to a recent economic study presented by the Brookings Institution.
About one-third of American households live "hand-to-mouth," meaning that they spend all their paychecks. But what surprised the study authors is that 66% of these families are middle class, with a median income of $41,000. While they don't have liquid assets, such as savings accounts or mutual fund holdings, they do have homes and retirement accounts, with a median net worth of $41,000.
"We don't expect them to be living paycheck to paycheck," said Greg Kaplan, study co-author and assistant professor of economics at Princeton University.
Poor hand-to-mouth households, by contrast, typically have incomes of $21,000 and no assets. Families that don't live paycheck to paycheck have incomes of $51,000 and assets of $116,000.
Those living paycheck to paycheck have a tougher time weathering income shocks, such as illnesses or bouts of unemployment. The study found that they have to cut back their spending far more than those with a reserve they can tap more readily.
Related: Where the middle class thrives
Just why these middle class households opt not to sock away cash in the bank or stock market isn't clear. One explanation, Kaplan says, is that they think that housing and retirement funds offer better returns so they are willing to forgo having a cash cushion.
"The return is so high that it makes it worthwhile to live paycheck to paycheck," said Kaplan. In a separate study, he found that people who put their money into these illiquid assets can consume more over the course of their lives, though they don't have a smooth pattern of spending.
Many Americans want to own their home, though they know that they won't have a lot of spending money, experts said.
"The typical homeowner knows they are making a big investment in their house, which soaks up a lot of their disposable income but can also be their primary asset when they retire," said Mark Aguiar, an economics professor at Princeton.
This financial plan bucks conventional wisdom, though. Most financial planners recommend people sock away three to six months of expenses in an emergency fund, though few actually do.
Most Americans, however, aren't living hand to mouth for long. Middle class families are typically in this situation for 3.5 years, while poorer households lack a cash cushion for 4.5 years.
First Published: April 25, 2014: 6:13 AM ET
Click the chart for more markets data.
NEW YORK (CNNMoney)
The Nasdaq dropped 1.75%, while the Dow fell 140 points and the S&P 500 also ended lower. The sell-off came as investors questioned whether key companies like Amazon (AMZN, Fortune 500) are growing at the pace Wall Street likes to see. There were also renewed concerns about turmoil in Ukraine.
The major indexes gave up gains from earlier in the week and ended the week with losses. It was the eighth straight week that the S&P 500 alternated between weekly gains and losses, according to Ryan Detrick, a strategist at Schaeffer's Investment Research. Call it the "Spring Swivel".
The latest reading on CNNMoney's Fear & Greed index shows sentiment is still languishing in "fear" mode.
Related: Fear & Greed Index still gripped by fear
Amazon (AMZN, Fortune 500) reported better-than-expected earnings and revenue Thursday, but shares plunged almost 10% as worries about rising costs at the tech giant surfaced. The stock was the biggest loser on CNNMoney's Tech 30 Index, which was down 4% Friday.
"$AMZN It's simple, when you run out of ways to increase your margin and make a profit, you distract people. drones, movies, phones, promises," said Caviar on StockTwits.
But another StockTwits trader wasn't fretting the Amazon drama.
"$AMZN awesome, hope to get this at a bargain price maybe in a couple weeks," said zv2013.
Related: S&P cuts Russia's credit rating
Microsoft (MSFT, Fortune 500) was one of the few tech stocks that edged out a win Friday after the company reported first-quarter sales that exceeded analysts' expectations. It also announced the completion of its deal with Nokia, complete with a slightly awkward photo of CEO Satya Nadella and executive Stephen Elop walking and talking in a mountainous setting while Elop holds a Nokia phone.
"$MSFT New CEO, new management, new devices+services strategy....Now we'll see some real momentum! #MSFTjustgotsexy," said StockTwits trader lcc007.
Ford (F, Fortune 500)shares fell over 3% after the automaker reported its first quarterly earnings decline since 2012. Profits also were below analysts' estimates.
But Stocktwits trader Circpunk thought Ford deserved some credit.
"$F It takes time to rebalance and refocus. They're doing an outstanding job running this company. This is old school competence," he said.
Shares of Dow component Visa (V, Fortune 500) tumbled 5% after the credit card giant missed revenue forecasts.
Starbucks (SBUX, Fortune 500) rose after reporting a gain in sales and earnings. There also have been rumors that it is considering buying a stake in SodaStream. Shares of SodaStream (SODA) have rallied sharply this week on that speculation.
Burger King (BKW) got a boost after its earnings report barely topped estimates, but that was a better story than McDonald's (MCD, Fortune 500) had when it reported its quarterly results earlier in the week.
Shares of athletic apparel maker Under Armour (UA) sank for a second straight day even though the company reported strong earnings Thursday and is on the verge of being added to the S&P 500 index.
Related: CNNMoney's Tech 30
In geopolitical news, senior government officials told CNN that the U.S. could impose new sanctions on Russia for failing to take steps to reduce the tension in eastern Ukraine. Sanctions would target key allies of Russian President Vladimir Putin, high-profile oligarchs and possibly companies.
Even without additional sanctions, Russia is struggling economically. Standard & Poor's downgraded Russia's credit rating to one step above junk status, and the country was forced to raise its interest rate from 7 to 7.5% since its currency is dropping sharply. This was the second increase in two months.
Related: 3 risks from the Ukraine crisis
European indexes finished mostly lower, with Germany's DAX falling 1.5%. Germany is Russia's largest trading partner in Europe. New sanctions would hurt both economies.
Most major Asian markets finished the day down as well.
First Published: April 25, 2014: 9:50 AM ET
Musk claims his aerospace company SpaceX was unfairly shut out of a contract for rocket launches he says he can do for less money.
WASHINGTON (CNNMoney)
SpaceX plans to sue the U.S. Air Force to challenge a $7.2 billion contract awarded to a company called United Launch Alliance, Musk said at a news conference on Friday.
The alliance, a venture of Boeing (BA, Fortune 500) and Lockheed Martin (LMT, Fortune 500), is set to use rocket boosters to launch things like GPS satellites into space for the federal government.
The contract, Musk charged, "essentially blocks companies like SpaceX from competing for national security launches."
"This really doesn't seem right to us," added Musk, whose electric car maker Tesla (TSLA) is challenging established auto companies.
The Air Force did not respond to a request for comment.
United Launch Alliance spokeswoman Christa Bell said the contracting process began in 2011. She said the ULA contract was able to deliver $4 billion worth of savings compared to past contracts.
"ULA recognizes the DOD plan to enable competition and is ready and willing to support missions with same assurance that we provide today," Bell said.
Related: Elon Musk's ventures
SpaceX has filed notice that it plans to sue the Air Force, the first step before a federal contract can be challenged. The suit will be filed late Friday or Monday, a spokesman said.
Musk alleged the United Launch Alliance contract is costing taxpayers "billions of dollars, for no reason" because SpaceX could provide launch rockets more inexpensively.
SpaceX has a $1.6 billion contract to launch a dozen unmanned cargo ships to the International Space Station, delivering equipment and supplies.
First Published: April 25, 2014: 3:13 PM ET
| By Mark Glendenning | Friday, April 25th 2014, 21:06 GMT |
Zach Veach has taken pole position for the first race in this weekend's Indy Lights double-header at Barber
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Friday, April 25th 2014, 20:39 GMT |
Rookie Kyle Larson has been handed his maiden pole position for Saturday night's Richmond NASCAR Sprint Cup race after qualifying was rained off
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Friday, April 25th 2014, 21:37 GMT |
IndyCar's new engine penalty system has already struck both Chevrolet and Honda, with the two manufacturers having been docked 50 and 30 points respectively for unapproved changes
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Thursday, April 24th 2014, 15:40 GMT |
Parker Kligerman is out of a drive following a restructuring within NASCAR Sprint Cup team Swan Racing
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Jonathan Noble | Thursday, April 24th 2014, 15:20 GMT |
Bernie Ecclestone reiterated his innocence of bribery charges on Thursday as the Formula 1 supremo's high-profile court case in Germany got underway
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Friday, April 25th 2014, 02:26 GMT |
Jason Bright took his first V8 Supercars win in 12 months as he triumphed in the opening race of the Pukekohe quadruple-header
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Ben Anderson | Wednesday, April 23rd 2014, 15:33 GMT |
Romain Grosjean says Lotus is now the second best Renault team in Formula 1 after running in the top 10 in the Chinese Grand Prix
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Wednesday, April 23rd 2014, 11:45 GMT |
GP2 driver Jon Lancaster will make his Le Mans 24 Hours debut with the Swiss Race Performance LMP2 team in June
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Wednesday, April 23rd 2014, 14:48 GMT |
Franck Montagny will return to IndyCar after an extended absence next month to drive a fifth Andretti Autosport entry for the Indianapolis road course race
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Monday, April 21st 2014, 14:58 GMT |
Mark Webber has heralded Porsche's podium in the Silverstone World Endurance Championship opener at the weekend as "massive step" for the German manufacturer on its return to top-flight sportscar racing
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By David Evans | Monday, April 21st 2014, 15:24 GMT |
Peugeot will face a race against time to solve teething troubles that forced the retirement of both factory 208 T16s on last week's Circuit of Ireland
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Ben Anderson | Monday, April 21st 2014, 16:43 GMT |
The Mercedes Formula 1 team reckons that Nico Rosberg was fortunate to finish the Chinese Grand Prix following his first corner contact with Valtteri Bottas
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Peter Mills | Sunday, April 20th 2014, 16:28 GMT |
Citroen's Jose Maria Lopez produced a fearless, attacking drive from last on the grid to take a sensational second victory of the World Touring Car Championship season at Paul Ricard
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Sunday, April 20th 2014, 16:54 GMT |
Toyota claimed first blood in the new era of the World Endurance Championship with a dominant one-two finish at Silverstone
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Kevin Turner | Sunday, April 20th 2014, 17:11 GMT |
Gordon Shedden gave the Honda Civic Tourer its first British Touring Car Championship victory with a last corner effort in the Donington Park finale
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Peter Mills | Saturday, April 19th 2014, 18:01 GMT |
Citroen's provisional front row qualifiers Sebastien Loeb and Jose Maria Lopez have had their qualifying times cancelled at Paul Ricard's second round of the World Touring Car Championship
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By David Evans | Saturday, April 19th 2014, 17:00 GMT |
Finland's Esapekka Lappi moved to the top of the European Rally Championship standings with a commanding win on the Circuit of Ireland
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Saturday, April 19th 2014, 18:57 GMT |
Tristan Gommendy came from behind to seal victory in the opening round of the European Le Mans Series at Silverstone with TDS Racing team-mates Pierre Thiriet and Ludovic Badey
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
Buried by tasks on the job? Here's how to speak up if you're maxed out, without sabotaging your next promotion.
(Money Magazine)
Consider it a form of flattery: With companies today demanding that employees work faster while tackling more complex tasks, the nimble professionals who "get it" have been deluged, says Anat Lechner, associate professor at NYU's Stern School of Business.
"When you're that kind of person, everyone knows who you are." Lucky you.
Here's how to speak up if you're maxed out, without sabotaging your next promotion.
Speak to the firm's interests
Your manager probably hasn't thought about what else is on your plate when she asks you, in passing, to take on a new proposal.
It's up to you to speak up if you don't have bandwidth.
"But you have to be able to react within seconds," says New York City career coach Caroline Ceniza-Levine.
Related: Don't let divorce wreck your finances
Keep a running tally of all your projects, so you'll be ready to respond. Then, rather than whining to the boss that you already do the job of five people, you can explain how taking a new project will prevent you from achieving some other equally important task, says Atlanta executive communications coach Darlene Price.
You might say: "Jim, the client in New York needs my attention this week so I can close the deal, which is worth $1 million. What should we do?"
Related: Baby on the way? Time to make a budget
Of course, the right approach depends on your manager's personality and the security of your job. You may find it safer to agree to a task but ask for the resources you need to do it. "Say, 'Yes, but to do that, I need x, y, or z,'" suggests Lechner.
Name the right recipient
Aim to hold on to high-profile jobs and offload work that won't help you advance. Instead of letting the duties fall upon your peers, who may not be pleased to pick up your discards, suggest that a junior colleague take an unwanted project as a stretch role.
"Something you don't want to do can be useful to someone else," says Ceniza-Levine.
Draw a line in the sand
If a manager essentially tells you to suck it up, you may be part of a workaholic culture or chronically understaffed department where the only way to scale back is to leave, says Price.
Once you have a "walkaway" strategy, consider making a final attempt with your boss.
Related: Budgeting for a new home, and a disability
One executive Price coached -- who traveled so often her 6-year-old asked her where she lived -- tried repeatedly to get her manager to reduce her business trips. Finally she told him she couldn't accept the working conditions and asked if he'd write her a letter of recommendation. "That called his bluff," says Price.
With this tactic, you've got to be ready to hear "buh-bye" -- but you may be better off in a new job anyway.
First Published: April 18, 2014: 5:00 PM ET
The Heartbleed bug revealed limitations with the software protecting banks and other key websites.
NEW YORK (CNNMoney)
They're all volunteers. And only one does it as a full-time job.
Their labor of love is OpenSSL, a free program that secures a lot of online communication. And it was a tiny coding slip-up two years ago that caused the Heartbleed bug, a hole that allows attackers to peer into computers. The bug forced emergency changes last week at major websites like Facebook (FB, Fortune 500), Google (GOOG, Fortune 500) and Yahoo (YHOO, Fortune 500).
But security experts say OpenSSL is severely underfunded, understaffed and largely ignored.
The bug wasn't caught until recently, because the OpenSSL Software Foundation doesn't have the resources to properly check every change to the software, which is now nearly half a million lines of code long. And yet that program guards a vast portion of our commerce and government -- including weapon systems and smartphones, the foundation claims.
Related story: Heartbleed Bug explained
"The mystery is not that a few overworked volunteers missed this bug; the mystery is why it hasn't happened more often," Steve Marquess, the foundation's president, said in an open letter.
When weighed against its critical importance to Internet security, OpenSSL has a shoestring budget. It has never received more than $1 million a year, Marquess said. The only federal support listed online was a single $20,000 renewal contract from the Department of Defense.
While the foundation receives money from the Department of Homeland Security, Citrix (CTXS) and others, the vast majority of its funding is from specific work-for-hire contracts. A company wants a certain feature added here, a specific function there. It keeps developers busy. But Marquess said there's no money going toward reviewing the code or performing audits.
In fact, the only person working on this full-time is Stephen Henson, an extremely private mathematician living in England who referred to Marquess for comment. Only a handful of other developers pitch in with any consistency, and Marquess told CNN their total labor amounts to maybe two full-time workers.
Even in the aftermath of Heartbleed, the foundation has received only $9,000 -- sparking Marquess to publicly call out companies that use OpenSSL for free.
"I'm looking at you, Fortune 1000 companies," he wrote.
In the wake of Heartbleed, this lack of funding for OpenSSL may prove a wake-up call.
Startups and major corporations frequently use open-source software because it's freely distributed and costs nothing. But they rarely contribute back in dollars or donated time. Without significant outside help -- donating dedicated staff and money without strings attached -- open-source projects like this are at risk of fizzling out or blowing up in our faces, said Azorian Cyber Security founder Charles Tendell.
"If you bought your car and knew it was put together by volunteers, how would you feel about that?" Tendell asked.
A select few firms provide some help. Facebook and Microsoft sponsor bug bounties via the HackerOne program -- essentially paying hackers to find mistakes that need fixing. And it was a Google security researcher, Neel Mehta, who discovered the Heartbleed bug.
Others are convinced it's time to chip in. The initial response by Marc Gaffan, cofounder of cloud-security provider Incapsula, was: "What do you expect? You got this for free. You get what you pay for." But it turns out his company relies on OpenSSL too. When asked if he would lead by example, Gaffan promised his firm would make its first donation.
Related story: Post-Heartbleed, change these passwords now
This recent scare has gotten the White House's attention. The Obama administration is now "taking a hard look at widely used tools such as OpenSSL to see if there is more that the federal government needs to do -- including supporting research and development," said National Security Council spokeswoman Laura Lucas Magnuson.
There's a catch, however. The government can only get so close without triggering fears that it's actually undermining the security of online communications, especially after Edward Snowden's disclosures about the National Security Agency's extensive surveillance programs. Former NSA crypto engineer Randy Sabett, now a tech privacy attorney at the Cooley law firm, expects the open-source community will be apprehensive.
"The public does not want the government involved in the design of the commercial Internet," he said. "They don't want back doors put in."
First Published: April 18, 2014: 6:57 AM ET
These apps make it simple to listen in to your favorite podcasts -- and discover new ones.
(Money Magazine)
These three apps make tuning in easy.
BEST OVERALL: Pocket Casts
Cost: $4
Platforms: Apple, Android
This app won top honors for its practical features and simplicity. Pocket Casts has an easy-to-use directory for searching for new shows, and it downloaded episodes to our device faster than any other app we tried.
To learn more about a show, just tap the name of the episode for a pop-up description (swipe it away when you're done). The app lets you create podcast playlists in two ways: by manually selecting the episodes you want to hear, or by grouping downloads using filters like "unplayed" and "video."
It also allows you to sync your shows between devices: We started playing Morningstar's Investing Insights on an iPad, then resumed listening on an Android phone without missing a word.
Related: Charge your cell phone in 30 seconds
BEST FREE: Pod Wrangler
Cost: Free, unlimited: $2
Platform: Apple
For newbies, Pod Wrangler is a good free option. Use the "find shows" tool to discover a few you like, then subscribe to up to five so they'll auto-download. (Unlimited subscriptions are $2.)
The app has a useful on-the-go feature that enlarges control buttons when you plug in headphones. A note about video podcasts: This app can play only the audio portion.
BEST FOR EXPERTS: Downcast
Cost: $3
Platform: Apple
Podcast addicts will love Downcast's many customization options. For instance, it has a unique feature that lets you save volume and speed settings for individual podcasts, allowing you to set the typically quiet Pimco Investment Outlook to always play louder, and Bloomberg Surveillance, which has rapid banter, to play at half-speed.
Related: 3 portable speakers with big sound
FIND NEW FAVORITES
New to podcasts or trying to expand your library? Here's where to start.
Tap your app. All the podcast apps in our roundup have an "explore" function. Use it to search for shows by keyword, genre, or popularity.
Browse iTunes. You'll find rankings, detailed descriptions, customer reviews, and suggestions based on shows you already listen to. For example, if you like NPR's Planet Money, iTunes recommends podcasts from The Economist and 60 Minutes.
Try Twitter. Some podcast-related websites use their Twitter handles to suggest new or interesting shows you should check out.
Good ones to follow include @PodcastThing from PodcastThing.com, and @PodcastOfTheDay and @APodcastlsBorn from Player FM.
First Published: April 17, 2014: 4:46 PM ET
NEW YORK (CNNMoney)
Alfa's return has been seriously discussed ever since the brand's parent company, Fiat, rescued Chrysler from bankruptcy in 2009. Strictly speaking, Alfa did make a minor U.S.-market re-entry with the pricey Alfa Romeo 8C in 2008. Only about 100 of those cars, with prices starting around $260,000, were ever sold in North America.
The 4C is a much more attainable car that Alfa plans to sell in far more serious numbers. When it goes on sale here in June, the 4C will initially be available in a special "Launch Edition" that will come in one of three colors, two shades of red and one white. Only 500 of those will be sold at prices around $70,000.
Gallery - Cool cars from the New York Auto Show
Those who can wait until autumn will get a broader range of color choices and prices that start at about $54,000.
The 4C is powered by a 237-horsepower turbocharged 4-cylinder engine mounted behind just behind the seats. It has a 6-speed automatic transmission engineered for quick, sporty gear shifts. To save weight, the 4C's body is made from aluminum, carbon fiber and special composite materials. The car has a top speed of 160 miles per hour and can go from zero to 60 in about 4.5 seconds.
The 4C will be sold through specially selected Fiat and Maserati dealers. Like Alfa Romeo, Maserati is also part of the new Fiat Chrysler Automobiles. So far, there's no word if any other Alfa Romeo models might come to the U.S.
First Published: April 18, 2014: 6:55 AM ET
Owners of the recalled Chevrolet Cobalt won't have to "park it now."
NEW YORK (CNNMoney)
Plaintiffs Charles and Grace Silvas, the owners of a recalled 2006 Chevrolet Cobalt, had asked the court to force GM to issue a "Park it Now" alert for all of the 2.6 million cars it has recalled due to a faulty ignition switch.
The National Highway Traffic Safety Administration, a federal agency that oversees American automakers, is "far better equipped" to regulate the recall, wrote U.S. District Judge Nelva Gonzales Ramos.
NHTSA has been overseeing the recall and has approved notices issued by GM that say the cars are safe to drive.
GM attorneys, and its CEO Mary Barra, argue that the cars are safe to drive as long as everything is removed from the keyring, leaving only the ignition key. Owners can bring their cars to a dealer to be fixed, but the recall doesn't mean they have to stop driving them.
Thirteen deaths have been connected to the ignition switch problem.
Robert Hilliard, a lawyer for the plaintiffs, said in a statement that "GM betrayed a moral obligation to save lives when they refused to issue an emergency alert to force drivers of GM vehicles to Park it Now."
GM is facing at least 36 ignition switch lawsuits across the country. It wants a bankruptcy court to rule that it is protected from those lawsuits because of a legal shield it gained as part of its 2009 bankruptcy.
First Published: April 17, 2014: 4:10 PM ET
NEW YORK (CNNMoney)
But the final enrollment figure remains to be seen: The White House has not released how many people have fully enrolled, which requires paying their first premium.
The open enrollment period ended on March 31, though people in some states are still able to sign up if they had already begun the application process.
The White House also said that 28% of those signing up on the federal exchange are between ages 18 and 34. The enrollment of young adults is being closely watched since they are presumed to be healthier and less costly, which will help offset the higher expenses generated by older enrollees.
Related: Got Obamacare, can't find doctors
The success of Obamacare's initial year will have an impact on insurance premium increases for 2015.
National enrollment figures, however, are not that significant, experts have said. Ultimately, it's more important that the final enrollment tally -- and the share of young adults -- matches with insurers' expectations. Insurers interviewed last month said sign-ups were tracking closely to their projections.
The White House used the occasion to again tout the fact that Obamacare has helped slow the rise of health care costs to record low levels. In the decade before Obamacare, employer-based insurance costs rose almost 8% a year. Last year, it increased at half that rate, President Obama said Thursday in a press conference.
Obama also chastised the governors and lawmakers in 24 states who have opted not to expand Medicaid, which he said was purely for political reasons. Many adults below the poverty line in these states are not eligible for Medicaid, nor do they qualify for federal subsidies to buy private insurance on the exchanges. Some 5.7 million people will remain uninsured because of this, according to the White House.
"It's wrong," the president said. "Those folks should be able to get insurance like everybody else."
Related: Medicare doctors - who gets the big bucks & for what
First Published: April 17, 2014: 5:09 PM ET
Art investment funds might choose to invest in "blue-chip" works, such as Andy Warhol's dollar sign series.
HONG KONG (CNNMoney)
The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit.
Growth in art investing has helped smash records for international art sales, which hit $66 billion last year. And the idea has been catching on with the very rich -- a group that already uses collectors' items and luxury goods as investments -- in the years following the global financial crisis.
"People are looking at new areas to invest in, and at the moment art is one of those -- it's making people money," said Jon Reade, co-founder of Hong Kong-based art brokerage Art Futures Group.
Related story: Chinese snap up fine art for use in laundering schemes
As with stocks, fund managers might buy pieces they believe are currently undervalued, perhaps from emerging artists. Funds can also buy into "blue-chip" artists -- similar to blue-chip stocks, these are top artists whose coveted works may offer more reliable returns.
Some art investment funds focus on investing in art from a certain region, a particular style period, or a specific medium, such as photography.
Another strategy is to buy in bulk, from a gallery or artist nearing bankruptcy, or to arrange for pieces to be exhibited -- a move that can help increase value.
Fund managers try to predict when a certain work will peak in value -- the golden moment to sell for a profit. To accomplish this, managers track a variety of indicators from auction houses, curators and galleries that can illuminate otherwise murky trends.
These funds can carry a hefty price tag -- London's Fine Art Fund Group requires a minimum investment of $500,000 to $1 million per investor.
"It's a very significant threshold, so it's not a fund for widows, orphans or retail investors," said CEO Philip Hoffman. "It's purely for high net worth and institutional type investors."
Related story: Where the rich stash their toys
Art funds are relatively new, and hold total assets of roughly $2 billion worldwide, according to the Art Fund Association, an industry group. That's still tiny compared to the $2.6 trillion hedge fund industry.
But related businesses are already springing up to support investing in art, such as freeports -- highly secure, tax-free places to stash fine art and other luxury items.
Future demand for art funds is expected to come from Asia, and especially China. Chinese demand boosted the global art fund market by 69% in 2012 alone, according to a Deloitte report.
Art investing is attractive to the Chinese due to limited investment options in the country. Plus, it promises big gains -- China's contemporary art market has gained roughly 15% each year in the last decade, while stocks have been largely flat, said New York University professor Jianping Mei, the developer of a fine art index.
Critics say a lack of regulation and the opaque nature of the market make art one of the riskiest investment options out there. Some have even accused wealth managers of exploiting the lack of transparency to bid up certain artists or works in order to raise the value of their funds.
Related story: Quarter sells for a record $1.5 million
And art is not as liquid an investment as assets such as stocks or bonds. Investors should expect to hold pieces for years, and be prepared to absorb insurance and storage costs during that time.
But supporters say these characteristics make art an extraordinary and rewarding investment.
"You get the benefit of a beautiful work of art you can enjoy on your wall," said Diana Wierbicki, who specializes in art law at Withers. "It's also an asset that is appreciating in value, because it's a market that's so strong."
First Published: April 17, 2014: 10:07 PM ET
A data breach at Michaels craft stores lasted eight months.
NEW YORK (CNNMoney)
The news comes three months after the nation's largest crafts chain told customers it learned of a possible hack. It's been investigating since then.
Some customers' credit and debit card numbers as well as expiration dates were compromised, but the company said there is no evidence that information such as a customers' names or PINs were stolen.
The breach occurred between May 8, 2013 and Jan. 27, 2014 and affected about 7% of transactions made with cards during that time. Not all stores were impacted and a "limited number" of those cards were subsequently used fraudulently, Michaels said.
The Michaels subsidiary Aaron Brothers was also hacked. Information from another 400,000 cards was potentially stolen at the Aaron Brothers stores between June 26, 2013 and Feb. 27, 2014.
Related: What you need to know about the Heartbleed bug
"We want you to know we have identified and fully contained the incident, and we can assure you the malware no longer presents a threat to customers while shopping at Michaels or Aaron Brothers," wrote CEO Chuck Rubin in a post on the company's website.
The initial Michaels announcement came just weeks after Target (TGT, Fortune 500) also disclosed it was hacked. The attack on Target affected as many as 110 million customers, including 40 million credit and debit card shoppers at the height of the holiday shopping season.
First Published: April 17, 2014: 7:23 PM ET
NEW YORK (CNNMoney)
A weekly collection of design, data and interactive links.
Photo/Video
Onion Skin | An installation by Olivier Ratsi.
Project Ara | A smartphone made by DARPA.
Binkbeats | Windowlicker by Aphex Twin.
Strength | Deutsche Bank media wall.
The Tale of the Plump Bird | Short animated video by Saki Iyori.
Scenes of Spring | Photographs from The Atlantic's InFocus blog.
Ornithology S. | Animated 4-color screen prints on bristol paper.
Design/Data viz
Responsive Man | Responsive layout of the human face.
Affordances Matter | A detailed look at iOS 7's shift key.
Code
Perspective Transformation II | Perspective example using d3.js
Unix Command Line | For artists and activists.
See last week's links
Have a nice weekend!
@dubly and @talyellin
First Published: April 18, 2014: 9:37 AM ET
NEW YORK (CNNMoney)
The promotion puts Spencer on par with George Stephanopoulos and Robin Roberts, the other two co-hosts, and means she'll be more visible during the 7 a.m. hour of the top-rated morning show.
"GMA" has weathered a number of cast changes in recent months: Weather anchor Sam Champion was replaced by Ginger Zee in December, and news anchor Josh Elliott was replaced by Amy Robach a few weeks ago. Two new contributors, Michael Strahan and Tony Reali, have been announced since Elliott's departure.
Spencer's promotion is most likely the last in this series of changes. It was announced about a month after she signed a new contract with ABC News.
Related: How things got ugly between ABC and Josh Elliott
Spencer was a host of the entertainment newsmagazine "The Insider" before joining "GMA" in 2011, in a job created for her -- "lifestyle anchor." Her signature segment has been the "Pop News Heat Index," an 8 a.m. hour summary of entertainment and pop culture news stories.
Friday's promotion affirms how the morning show has evolved. Over time, Spencer has played a bigger part at both 7 and 8 a.m. Case in point: She recently interviewed Vice President Joe Biden at a White House event with the original "Rosie the Riveters," whom Biden said represented "the start of the first's women's liberation movement."
Her promotion was announced by the new president of ABC News, James Goldston, who was the producer in charge of "GMA" back in 2011. Goldston said in an internal memorandum that "Lara is clearly an essential ingredient in the success we have enjoyed."
Two years ago this week, "GMA" began to beat NBC's "Today" show in the morning TV ratings race, ending a 16-year winning streak by "Today." Despite the cast shakeups, "GMA" remains firmly in first place; last week the show led "Today" by 279,000 viewers between the ages of 25 to 54, a key demographic for news advertisers. ABC said that win represented the widest gap between the rival shows in three months.
First Published: April 18, 2014: 3:16 PM ET
| By Gary Watkins | Friday, April 18th 2014, 17:00 GMT |
Audi blocked out the top two positions in second free practice for Sunday's opening round of the World Endurance Championship at Silverstone.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Marcus Simmons | Friday, April 18th 2014, 17:44 GMT |
Lotus F1 Junior Esteban Ocon took a brace of pole positions in the second qualifying session for this weekend's Formula 3 European Championship opener at Silverstone.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By David Evans | Friday, April 18th 2014, 19:12 GMT |
Rising Finnish star Esapekka Lappi rocked the Irish establishment with a stunning opening day to lead the European Rally Championship's Circuit of Ireland
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By David Evans | Thursday, April 17th 2014, 19:58 GMT |
Irishman Robert Barrable set the fastest time on the qualifying stage of the Circuit of Ireland Rally, round four of the European Rally Championship
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Hal Ridge | Thursday, April 17th 2014, 18:00 GMT |
Double DTM champion Mattias Ekstrom has set up his own team to compete in the World Rallycross Championship
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Thursday, April 17th 2014, 20:20 GMT |
Robert Wickens ended BMW's domination of the final DTM pre-season test at Hockenheim as he topped the times for Mercedes on Thursday
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Wednesday, April 16th 2014, 17:14 GMT |
Joey Hand kept BMW on top of the time sheets as the final pre-season DTM test continued at Hockenheim
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Jonathan Noble | Wednesday, April 16th 2014, 16:10 GMT |
Force India has vowed to keep up the pressure for Formula 1's governance to be reformed, as it believes the current structure is unacceptable
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Wednesday, April 16th 2014, 20:54 GMT |
KV/AFS Racing driver Sebastian Saavedra has been fined and placed on probation for a full-course yellow infraction at last weekend's IndyCar race at Long Beach
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Tuesday, April 15th 2014, 15:40 GMT |
Audi has expressed frustration at changes to the LMP1 fuel allocations ahead of this weekend's World Endurance Championship opener at Silverstone
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Hal Ridge | Tuesday, April 15th 2014, 16:11 GMT |
Andrew Jordan tested the Ford Fiesta RX Supercar that he will use in the AUTOSPORT WorldRX of Great Britain at Lydden.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Tuesday, April 15th 2014, 17:20 GMT |
Marco Wittmann stayed on top of the times on the second day of the DTM pre-season test at the Hockenheim circuit.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Andrew van Leeuwen | Monday, April 14th 2014, 17:20 GMT |
Marco Wittmann topped the first day of the final DTM pre-season test at Hockenheim on Monday
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Kevin Turner | Monday, April 14th 2014, 15:58 GMT |
Returning British Touring Car champion Fabrizio Giovanardi believes improvements to his Ford Focus will allow him to move up the field at the Donington Park round this weekend
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Ben Anderson | Monday, April 14th 2014, 18:45 GMT |
NASCAR team boss Gene Haas is eying a tie-up with renowned single-seater constructor Dallara to build a car for his entry into the 2015 Formula 1 world championship.
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Sunday, April 13th 2014, 19:56 GMT |
Marc Marquez led a dominant Honda one-two in an Austin MotoGP race that proved a disaster for the works Yamahas
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Gary Watkins | Sunday, April 13th 2014, 18:57 GMT |
Two-time Le Mans 24 Hours winners Andre Lotterer, Marcel Fassler and Benoit Treluyer will attempt to add victory in the Spa 24 Hours to their tally of successes together
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Sunday, April 13th 2014, 23:17 GMT |
Ed Carpenter Racing's decision to hire Mike Conway for IndyCar's road and street rounds was rewarded as the Briton survived an extraordinary race to claim his second Long Beach win
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| By Mark Glendenning | Saturday, April 12th 2014, 21:34 GMT |
Last-gasp flying laps from Ryan Hunter-Reay and James Hinchcliffe secured an all-Andretti Autosport front row for Sunday's IndyCar race at Long Beach
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Saturday, April 12th 2014, 20:05 GMT |
Marc Marquez cruised to his second consecutive pole of the 2014 MotoGP season after breaking the lap record in qualifying at Austin
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
| Sunday, April 13th 2014, 00:03 GMT |
Ganassi's Scott Pruett and Memo Rojas withstood near-relentless pressure to win the Long Beach United SportsCar round
You have viewed over 20 free stories this month. Why stop there? Click here to find out how to continue reading.
NEW YORK (CNNMoney)
Spirit (SAVE) received the most complaints per passenger last year, the U.S. PIRG Education Fund found.
The group examined complaints made to the Department of Transportation about major U.S. airlines.
Passengers of Spirit were three times as likely in 2013 to lodge a complaint than those flying on Frontier Airlines, which received the second largest number of complaints per passenger. United Airlines (UAL, Fortune 500) and American Airlines (AAL) took the third and fourth spots.
Related: 5 airline fees we hate the most
Spirit's fees have been a source of frustration for fliers, said Paul Hudson, president of Flyersrights.org.
Spirit says it is able to offer discounted fares because it lets passengers choose whether or not they want to buy meals or pay to check in their luggage.
"Many of the DoT complaints are driven by customers not fully understanding that we offer unbundled fares that let them control how much they spend," said Maggie Espin-Christina, a spokeswoman for the airline.
A spokeswoman for Frontier Airlines, Kate O'Malley, attributed its elevated complaint level to a one-off event, a program aimed at converting its frequent flier miles to Delta's SkyMiles. Almost 40% of last year's complaints involved the program, she said.
United Airlines, which did better in the PIRG analysis than it did the previous year, said it is "investing significantly" to improve its services and was "pleased to see the latest rankings reflect our progress."
Matt Miller, speaking for American Airlines, noted that the airline faced tough weather conditions early and late in 2013, particularly in Chicago, one of its main hubs.
Related: 'How I'm using my tax refund'
Southwest (LUV, Fortune 500) had the best record, with the smallest number of complaints per passenger, PIRG said. It is also the only major carrier to allow passengers to check two bags for free.
Alaska Airlines (ALK), which is one of the most consistently on-time airlines, was also one of the least likely to elicit complaints from its passengers. Other airlines with few complaints per passenger included Delta (DAL, Fortune 500), JetBlue (JBLU, Fortune 500) and AirTran.
Throughout the airline industry, however, passenger dissatisfaction is on the rise, PIRG found. Among the top complaints: flight delays and cancellations, overbooking, lost baggage, customer service, and mishaps with reservations and ticketing.
While still prevalent, complaints about lost luggage and baggage handling are starting to decrease. PIRG attributed the decline to rising fees, which have prompted many travelers to try and avoid checking in their bags altogether.
The fastest growing complaint category was flight delays and cancellations. On-time performance fell throughout the industry last year, which could explain the uptick, PIRG said.
"Consumers are incredibly frustrated," said Laura Murray, a consumer associate for U.S. PIRG. "Flying isn't fun."
First Published: April 11, 2014: 11:26 AM ET
Like a lot of high-income Americans, the Obamas were subject to an additional Medicare tax to help pay for the president's signature health reform law.
NEW YORK (CNNMoney)
The bulk of their income came from the president's salary, but the Obamas also reported roughly $100,000 in business income from Random House and literary management company Dystel & Goderich.
The White House released the couple's 2013 federal tax return on Friday.
Their federal tax bill for 2013 came to $98,169, according to their return. That's an effective federal tax rate of 20.4% on the First Family's AGI.
But because they already paid $117,277 in federal taxes, they're due a big refund of $19,108. They opted to have it applied to their 2014 taxes.
Related: 4 ways the rich will pay more in taxes
Like a lot of very high-income Americans, the Obamas were subject for the first time to the additional Medicare tax that went into effect in 2013 to help pay for the president's signature health reform law.
The extra tax cost them an additional $2,310.
They also owed $136 in additional Medicare taxes on $3,578 in net investment income. Also as a result of Obamacare, net investment income is now subject to a 3.8% Medicare tax for people making more than $250,000.
And like roughly a third of all U.S. tax filers, the Obamas are itemizers. They claimed $147,769 in itemized deductions, the biggest of which was $59,251 in charitable contributions to organizations such as the Fisher House Foundation, American Red Cross and CARE.
A distant second was $42,383 deduction in mortgage interest.
Unlike a lot of Americans, the Obamas put aside a lot for their retirement, saving $20,681 in tax-advantaged retirement plans.
First Published: April 11, 2014: 5:26 PM ET
NEW YORK (CNNMoney)
Its latest flagship phone, the Galaxy S5, is still busy and scattered. But the Galaxy S5 shows that Samsung (SSNLF) is beginning to take a more cautious and thoughtful approach than with its Galaxy predecessors.
Flashy new features
Unfortunately, adding flashy, unnecessary features is required for marketing a smartphone these days. The Galaxy S5 has its share -- some successful and some forgetful. The big new additions include an Apple (AAPL, Fortune 500) iPhone-like fingerprint sensor, a heartbeat sensor, water resistance and a new focus on health tracking.
The fingerprint and heartbeat scanners don't work as well as they should. The fingerprint sensor adds an optional level of security to the phone and certain files, and it could eventually be used for payments. Unfortunately, it's tricky to master and requires clumsily moving your finger or thumb over the home button.
The heartbeat sensor also needs improvement. To use it you press and hold a finger on the back of the phone. It gave me an accurate reading every time but was repeatedly unable to detect any cardiac activity in my partner, who I now worry is one of the undead.
Related: The HTC One M8 is beautifully better
The most welcome addition is water resistance. Our poor, expensive gadgets are regularly subjected to a number of damp indignities. They're dropped in toilets and pools, soaked by spilled drinks, and gnawed on by drooly babies and dogs. The people using them as fitness devices are probably adding some sweat to the mix.
The Galaxy S5 is water- and dust-resistant and can last up to 30 minutes submerged in a meter of water. Though it's not guaranteed to be fully waterproof it might prevent a few early smartphone deaths.
Streamlining software, slowly
After taking into consideration customer feedback and usage statistics for its previous software features, Samsung cut down the number of pre-installed apps weighing down the phone. Realizing many of those apps should be optional, Samsung has stashed a list "Galaxy Essentials" apps in one spot so customers can decide which ones they'd like to download or ignore.
The result is an improvement over the Galaxy S4, but it's far from perfect. At times, the interface can feel disjointed and busy instead of cohesive and intuitive, like it was designed by committee instead of a tight team of user interface designers. And, of course there are still the usual bloatware apps from carriers to contend with, nothing a few minutes of deleting can't clear up.
It's what's inside that counts
For most customers, the fun add-ons and software are just window dressing. The true test of a phone is its core features such as speed, battery life and camera quality.
A new quad-core Qualcomm (QCOM, Fortune 500) processor inside the phone keeps everything speeding along. The battery is bigger, rated for up to 21 hours of talk time. When the juice is low and you're nowhere near an outlet, the very handy ultra power-saving mode can drastically drag out the device's life. The screen switches to a white-on-black display and only essential communications are supported. It's pretty genius.
Related: Hands on with the Samsung Galaxy S5
A smartphone's camera is a key feature for shoppers -- so much so that Nokia (NOK) has made super-powerful cameras the primary selling point of its Microsoft (MSFT, Fortune 500) Windows Phone devices. The Galaxy S5 camera is sharper than the S4 with more pixels packed in to the same-sized sensor, with some new software features.
Many of the software add-ons are the same types of filter and editing options you can get with third-party camera apps. Samsung says the focus time is faster, but the camera can still be a touch slow when image stabilization turned on. A nice addition is the real-time HDR feature, which combines two different exposures of the same scene in preview mode, so you don't have to wait until after you snap a photo to see if it looks good. HDR also works for videos.
Design
The physical design of the phone is, like its predecessor, inoffensive. It mixes plastic and a faux leather back for a look that's nice enough on the eyes but feels a little cheap. On the bright side, phoning it in on materials keeps the increasingly large phone light.
Samsung doesn't have Apple's eye for high-end design details and materials, or the Moto X's flare for fun customization and color. Instead the company put more attention into part of the phone that you'll be staring at all day: the screen.
Samsung slightly inflated the Galaxy S5's screen size from five inches to 5.1 inches, adding a nice but subtle amount of screen real estate. The AMOLED 1080p HD touchscreen display is outstanding and sharp with vivid colors.
A light upgrade
Many of these details will probably be beside the point for the Galaxy S5. It is one of the most popular smartphones in the world, particularly where Google's (GOOG, Fortune 500) Android and Samsung fans are legion. For those who want a top-of-the line Android phone, most pick up the latest Galaxy S.
That popularity might be why the company is hesitant to make any radical changes to the device. Instead of reinventing the Galaxy S4, Samsung is refining it, honing in on what makes it a success and throwing in the types of features that are unlikely to win over customers who don't already use Samsung products -- but won't alienate existing fans either.
First Published: April 11, 2014: 10:12 AM ET
Click the chart for more stock
NEW YORK (CNNMoney)
Herbalife (HLF)'s shares ended the day 14% lower in the wake of the Financial Times article about the company, which hedge fund manager Bill Ackman has claimed operates as a pyramid scheme.
A law enforcement official confirmed to CNN Friday that the U.S. Attorney's Office in Manhattan and the FBI have been investigating Herbalife for several months.
Herbalife has strongly defended itself against Ackman's claims, saying its business model is no different from other multi-level marketing firms.
Related: Herbalife tumbles on FTC probe
In a statement, Herbalife said it had "no knowledge of any ongoing investigation by the DoJ or the FBI" and that it had not received any formal nor informal request for information from either agency. "We take our public disclosure obligations very seriously," it said.
The company's stock price fell last month after it announced that it was the subject of a civil inquiry by the Federal Trade Commission.
Herbalife shares are down more than 30% year-to-date.
Shares of fellow multi-level marketing company Nu Skin (NUS) fell nearly 4% Friday.
-- CNN's Evan Perez contributed to this report.
First Published: April 11, 2014: 4:43 PM ET
