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11 Reasons Why Being Rich Is The Worst

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bush family portrait

Bankers are not happy with their pay, according to a poll done financial services recruiting firm, Selby Jennings.

Globally, 67.2 percent of them believe they should be compensated more given market conditions.

But maybe it's actually better for them if their salaries are lower.

According to a report from Wells Fargo being really, really rich just stinks and it takes a lot of work.

For one, you might need a psychologist to help with the wealth management process, and/or you may be under a lot of pressure to chose a place to discuss family money peacefully and comfortably.

Well Fargo's website has some really interesting literature ("white papers") that go over 1% problems. We've picked out the ones that sound most horrific.

If you're uber-rich, you might have to hold family meetings to talk about your money.

Abbot Downing suggests that wealthy families having so-called "family meetings":

"Regular family meetings provide a forum for sharing news, concerns, opportunities and challenges in an open and direct way."

Source: Abbot Downing



But you probably won't meet in the comfort of your own home.

From Abbot Downing:

"Parental homes or offices make less-than-ideal locations. Meeting at “the old homestead” may encourage family members to fall back into old patterns of behavior, plus it may be intimidating to in-laws or to children less familiar with the location. Family homes and offices are also filled with everyday distractions, and there may not be room enough for everyone comfortably."

Source: Abbot Downing



That's why you should spend more of your money to meet somewhere more suitable such as a country club.

From Abbot Downing:

"Gathering family members at a resort, a rented home or a country club costs money that is well spent. Using the family’s resources for a meeting sends an important message to the family. It says, “We are here not just to grow the money but to grow ourselves, to grow together."

Source: Abbot Downing



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Moscow Ballet Director Describes Moment He Had Sulfuric Acid Thrown In His Face

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Sergei Filin After Acid Attack

Moscow's Bolshoi Theatre became embroiled in scandal at the start of this year, when artistic director and former lead dancer Sergei Filin had acid thrown into his face outside of his Moscow home.

The brutal attack threw the Russian dance world into the spotlight, with petty jealousies and brutal vendettas taking center stage. A dancer, Pavel Dmitrichenko, has now admitted to organizing the attack, but Filin's family suspects the conspiracy goes even further.

New Yorker editor David Remnick, himself former Moscow-bureau chief for the Washington Post, has taken a long dive into the scandal, and it's well worth reading the entire thing.

One remarkable passage at the beginning describes, in graphic detail, Filin's immediate reaction to the attack.

“In those first seconds, all I could think was, How can I relieve the pain?” Filin told me later. “The burning was so awful. I tried to move. I fell face first into the snow. I started grabbing handfuls of snow and rubbing it into my face and eyes. I felt some small relief from the snow. I thought of how to get home. I was pretty close to my door. There’s an electronic code and a metal door, but I couldn’t punch in the numbers of the code. I couldn’t see them. When I understood that I couldn’t get into the building, I started shouting, ‘Help! Help! I need help!’ But no one was around. I tried to make my way to another entrance, in the hope that someone would see me and help me. But that was not such a good idea, because I was falling down and getting up and bumping into cars and into walls and falling down because I couldn’t see any steps. There was so much snow. Snow was coming down. I kept rubbing it into my face.

“When I understood that there was no use shouting for help, I decided to reach into my pocket and put my mobile phone in my hand. I hoped someone would call me. I couldn’t see the screen, so I couldn’t dial. Usually, I get one call after another, but there were no calls for some reason. I tried to knock on the door of each entrance. I’m quite strong and I banged very loudly, but no one was coming out to help. Then the phone slipped out of my hand and I lost it in the snow. The pain in my eyes and face was so terrible that I had a wave of thought: I was dying. But I only wanted to die if it was in the arms of my wife. The pain was unbearable. I really thought this might be the end of me.”

Filin stopped talking for a while, gathering his memory. Then he said, “I remembered that at the parking lot there’s a booth with security guards, and I hoped there would be someone there. So I ran in what I thought might be the direction of the parking lot. My eyes couldn’t see, but somehow my bodily navigation was alert and it moved me in the right direction. I kept falling down and bouncing off the cars, as if I were the ball in a pinball machine. Eventually, I made my way to this booth and I started banging on the window. And here I finally lucked out. There was a guard there. He said he was absolutely shocked when he saw me. He immediately scooped up more snow and rubbed it into my face. By now I was trembling. I’d developed some sort of fever, it must have been shock, and I kept saying, ‘Please call Masha, please call Masha.’ I really thought I was dying. So he called an emergency number—for an ambulance—and then he called upstairs to Masha, who came out of the apartment and to the parking lot. I don’t want to discuss the nightmare that came next: my wife’s reaction, the reaction of my relatives who saw me in this condition. I could hear them crying and I understood that what they saw in my face was something . . . horrendous.”

Filin is currently recovering in Germany, where he is undergoing surgery to save his eyesight (the New York Times reports that he is expected to regain most of his sight in his left eye at least).

Of course, the scandal is far from over. One dancer — viewed by some as a suspect in the case — told Remnick he doubted there was even any acid in the jar.

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It's 'Inconceivable' That We Will Be Driving Cars For Another 100 Years

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car women vintage

This prediction sounds bold primarily for the fact that most of us don't think about technology – or the history of technology – in century-long increments: “We’re probably closer to the end of the automobility era than we are to its beginning,” says Maurie Cohen, an associate professor in the Department of Chemistry and Environmental Science at the New Jersey Institute of Technology.

“If we’re 100 years into the automobile era, it seems pretty inconceivable that the car as we know it is going to be around for another 100 years.”

Cohen figures that we’re unlikely to maintain the deteriorating Interstate Highway System for the next century, or to perpetuate for generations to come the public policies and subsidies that have supported the car up until now. Sitting in the present, automobiles are so embedded in society that it’s hard to envision any future without them. But no technology – no matter how essential it seems in its own era – is ever permanent. Consider, just to borrow some examples from transportation history, the sailboat, the steamship, the canal system, the carriage, and the streetcar.

All of those technologies rose, became ubiquitous, and were eventually replaced. And that process followed a pattern that can tell us much about the future of the automobile – that is, if we’re willing to think about it not in the language of today's "war on cars," but in the broad arc of time.

The replacement of the car is probably out there. We just don’t fully recognize it yet.

“There’s not going to be a cataclysmic moment,” Cohen says of what’s coming for the car. “Like any other technology that outlives its usefulness, it just sort of disappears into the background and we slowly forget about it.” The landline telephone is undergoing that process right now. Your grandmother probably still has one. But did you even bother to call the phone company the last time you moved into a new home? “It’s not as if we all wake up one morning and decide we’re going to get rid of our landlines,” Cohen says, “but they just kind of decay away.

“I think cars will kind of disappear in much the same way.”

They may still exist at the periphery (there are still canal boats out there). But, for the most part, in all likelihood we’ll move on. History is full of these "socio-technical transitions," as academics like Cohen call them. The history of the steamship has particularly influenced this line of thinking. Society spent a good hundred years transitioning from the sailing ship to the steamship. “It wasn’t as if steamships instantly demonstrated their superiority,” Cohen says. There were problems with the technology. Kinks had to be worked out. Sometimes they blew up.

We often think of the car as having arrived with a flourish from Henry Ford around the turn of the last century. But the history of the automobile actually dates back more than a hundred years earlier to steam-powered vehicles and the first internal combustion engine. Early prototypes of the car used to blow up, too. People were afraid of them. You had to acquire a special skill set just to operate them. And then there were all the networks we needed to develop – roads, gas stations, repair shops – to make cars feasible.

“We tend to focus on the car itself as the central element,” Cohen says, “and we fail to recognize that it’s not just the car.” Like any ubiquitous technology, the car is embedded in a whole social system. In this case, that system includes fuel supply lines, mechanisms for educating and licensing new drivers, companies to insure them, laws to govern how cars are used on common roads and police officers to enforce them. In the academic language of socio-technical transitions theory, all of that stuff is the regime around the car.

“People who are part of that regime get up in the morning, put their shoes on and reproduce that system on a daily basis,” Cohen says. “So that system also has a profound ability to beat back any challenges to it.”

But we can already start to see cracks in the regime. New automobile registrations have plateaued in the U.S, even as the population has continued to grow. Rising gas prices have made some housing patterns predicated on the car unsustainable. Twentysomethings are now less likely to own cars and say they’re less enamored of them. The 1973 classic car flickAmerican Graffiti, Cohen points out, would never be made today.

Within any social system, there also exist what Cohen calls “insurgent niches” challenging the regime. Niches are fragile, they’re underfunded, they’re stigmatized. The car was once an insurgent niche in the age of streetcars. Now in the age of the automobile, we might think of those niches as car-sharing companies or bike advocacy groups.

Until World War I, we viewed the car as just a carriage without a horse.

Some niches eventually grow to replace the prevailing regime, as cars themselves once did. But that process is equally dependent on so much more than technological invention. Look at how the cell phone has evolved to replace the landline. Our need for cell phones didn’t arise in a vacuum. Work practices changed. Commuting times got longer, creating the need for communication inside cars. Batteries got smaller. Cell phone towers proliferated.

These are the unnoticed events that happen in the slow course of technological transition. We didn’t even recognize that the car was a fundamentally new thing until around World War I, Cohen says. Until then, many people viewed the car as just a carriage without a horse.

“The replacement of the car is probably out there,” Cohen adds. “We just don’t fully recognize it yet.”

In fact, he predicts, it will probably come from China, which would make for an ironic comeuppance by history. The car was largely developed in America to fit the American landscape, with our wide-open spaces and brand-new communities. And then the car was awkwardly grafted onto other places, like dense, old European cities and developing countries. If the car’s replacement comes out of China, it will be designed to fit the particular needs and conditions of China, and then it will spread from there. The result probably won’t work as well in the U.S., Cohen says, in the same way that the car never worked as well in Florence as it did in Detroit.

We’re not terribly well positioned right now to think about what this future will look like. Part of the challenge is that, culturally, we’re much more accustomed to celebrating new gadgets than thinking about how old technology decays.

“And people don’t have the perspective that extends beyond their own lives,” Cohen says. “They were born into a society and culture where cars were everywhere, and they can’t envision – with good reason – living their lives without a car.”

He worries that in the U.S., we’ve lost our “cultural capacity to envision alternative futures,” to envision the Futurama of the next century. More often, when we do picture the future, it looks either like a reproduced version of the present or like some apocalyptic landscape. But this exercise requires a lot more imagination: What will be the next carriage without a horse? The next car without an engine?

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This Is The Sick Penthouse Where John Paulson Could Live If He Moved To Puerto Rico

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Acquamarine penthouse

Everyone is buzzing about a Bloomberg News report that billionaire hedge fund manager John Paulson is considering moving to Puerto Rico to take advantage of a new tax law.

Bloomberg News also reports that closely-followed hedge fund manager "recently looked at real estate in the exclusive Condado neighborhood of San Juan, where an 8,379- square-foot penthouse, complete with six underground parking spaces, lists for $5 million. The area is home to St. John’s School, a private English-language academy where he and his wife could send their two children, said the people, who asked not to be named because the discussions were private."

Paulson & Co. acknowledged it has looked at real estate there, but doesn't currently hold anything, the report said. 

We were able to track down the $5 million Acquamarina penthouse listed by Trillion Realty Group, an affiliate of Christie's International Real Estate, matching that exact description. 

It's definitely a dream home in paradise and now we're going to take a tour. 

Here's a shot of the Acquamarina building.

Source: Christie's Real Estate



The Acquamarina penthouse occupies the 15th, 16th and 17th floors of the luxury building.

Source: Christie's Real Estate



There's also an elevator for access to each floor.

Source: Christie's Real Estate



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50 Trips You Need To Take In The United States

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Bixby Bridge on the Pacific Coast Highway in California

America's been called a lot of things: beautiful, majestic, wild, and great. It's all those and more.

Whether you're driving down the Pacific Coast Highway, whale watching in Cape Cod, or waiting for Old Faithful to erupt in Yellowstone National Park, the United States is full of incredible surprises.

From the east coast to the west and everywhere in between, we've found 50 trips you must take in the United States. For a closer look at travel hotspots at home and abroad, check out our armchair travel guide.

Watch the sunset from Bass Harbor Head Lighthouse in Maine's Acadia National Park.



Spend a night at Amangiri, a sleek luxury resort in Big Water, Utah, that blends into its Navajo country surroundings.



View cutting-edge art at Art Basel Miami Beach.



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NYC Will Have 'Sugar Police' Armed With 17-Ounce Cups To Enforce Bloomberg's Sugar Ban

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five guys soda

Watch out, New York restaurants.

The soda police are coming to get you.

Mayor Michael Bloomberg's controversial ban on large sugary drinks hits Tuesday and along with it comes an initiative to make sure restaurants are following the rules.

City health inspectors will be armed with specially ordered 17-ounce cups to enforce the new mandate, Tina Moore at the New York Daily News reported.

Here's how it's going to work:

Health inspectors will use the new measuring cups when they're visiting restaurants for regular inspections.

The cups will be able to contain 17 fluid ounces. Inspectors will issue a violation when the cup is found to "clearly exceed" 16 ounces when put in the measuring cup.

The frequency of the inspections depends on letter grade. For instance, restaurants with an A grade are inspected only once per year, but that timeframe shortens as the letter grade gets lower.

Deputy Health Commissioner Daniel Kass said that the cups are meant to provide establishments with a margin of error.

SEE ALSO: The Most Popular Fast Food Restaurants In America >

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Here's What It Really Costs To Get Married In The US

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wedding hinduCouples spent an average of $28,500 to tie the knot in 2012, according to a Wedding Channel/TheKnot.com report.

That's just a couple thousand dollars shy of what the average homebuyer spends on a downpayment today ($31,000 by Trulia's estimate). 

And we're not even including the honeymoon. 

"In 2011, budgets increased for the first time since the economic downturn, and this past year, in 2012, we saw that wedding budgets are continuing to rise even more and to an all-time high since 2008," said Carley Roney, cofounder of The Knot.

It's not the bridal gown that had couples tipping their budgets either. Brides dropped just $1,200 on their wedding dress last year, only about $100 more than the year prior.

They spent twice that much on the reception band alone. 

Blame the venue. Couples spent $800 more on the location of their ceremony last year than in 2011, which ate up nearly half their entire budget at $13,000. The only expense that came close was the engagement ring, which cost more than $5,400 on average.

Manhattan is still by far the priciest city for newlyweds, where they spent more than $77,000 on tying the knot –– a major leap from 2011's $65,000 price tag. That's more than five times as much as couples in chilly Alaska, where weddings averaged $15,000. 

Here are a few other interesting tidbits from the report: 

  • Average Marrying Age: Bride, 29; Groom, 31
  • Average Number of Guests: 139
  • Average Number of Bridesmaids: 4 to 5
  • Average Number of Groomsmen: 4 to 5
  • Most Popular Month to Get Engaged: December (16%)
  • Average Length of Engagement: 14 months
  • Most Popular Month to Get Married: June (17%)
  • Popular Wedding Colors: Blue (33%), Purple (26%), Green (23%), Metallics (23%)
  • Percentage of Destination Weddings: 24%

SEE ALSO: 27 expensive purchases that wound up being huge wastes of money >

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Illinois Settles With SEC For Misleading Muni Investors — State Had Failed To Properly Disclose Underfunded Pension

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chicago lake michigan

The SEC announced a settlement with Illinois for allegedly misleading munibond investors about its pension obligations, according to a release from the agency.

The SEC says the state failed to mention its pension obligations would by statute be significantly underfunded.

The state began correcting  "process deficiencies and enhance its pension disclosures" in 2009 and signed a consent decree neither admitting nor denying the charges.

The state sold more than $2.2 billion in munibonds between 2005 and early 2009. 

“Municipal investors are no less entitled to truthful risk disclosures than other investors,” said George S. Canellos, Acting Director of the SEC’s Division of Enforcement.  “Time after time, Illinois failed to inform its bond investors about the risk to its financial condition posed by the structural underfunding of its pension system.”

If you've never seen it, Gov. Pat Quinn created a mascot called "Squeezy" who was meant to be the face of reforming the state's pension woes. It's pretty great

Here's the full statement: 

------------------------------------------------------------------------------------------------

Washington, D.C., March 11, 2013— The Securities and Exchange Commission today charged the State of Illinois with securities fraud for misleading municipal bond investors about the state’s approach to funding its pension obligations.


Additional Materials


An SEC investigation revealed that Illinois failed to inform investors about the impact of problems with its pension funding schedule as the state offered and sold more than $2.2 billion worth of municipal bonds from 2005 to early 2009. Illinois failed to disclose that its statutory plan significantly underfunded the state’s pension obligations and increased the risk to its overall financial condition. The state also misled investors about the effect of changes to its statutory plan.

Illinois, which implemented a number of remedial actions and issued corrective disclosures beginning in 2009, agreed to settle the SEC’s charges.

“Municipal investors are no less entitled to truthful risk disclosures than other investors,” said George S. Canellos, Acting Director of the SEC’s Division of Enforcement. “Time after time, Illinois failed to inform its bond investors about the risk to its financial condition posed by the structural underfunding of its pension system.”

Elaine Greenberg, Chief of the SEC’s Municipal Securities and Public Pensions Unit, added, “Regardless of the funding methodology they choose, municipal issuers must provide accurate and complete pension disclosures including the effects of material changes to their pension plans. Public pension disclosure by municipal issuers continues to be a top priority of the unit.”

According to the SEC’s order instituting settled administrative proceedings against Illinois, the state established a 50-year pension contribution schedule in the Illinois Pension Funding Act that was enacted in 1994. The schedule proved insufficient to cover both the cost of benefits accrued in a current year and a payment to amortize the plans’ unfunded actuarial liability. The statutory plan structurally underfunded the state’s pension obligations and backloaded the majority of pension contributions far into the future. This structure imposed significant stress on the pension systems and the state’s ability to meet its competing obligations – a condition that worsened over time.

The SEC’s order finds that Illinois misled investors about the effect of changes to its funding plan, particularly pension holidays enacted in 2005. Although the state disclosed the pension holidays and other legislative amendments to the plan, Illinois did not disclose the effect of those changes on the contribution schedule and its ability to meet its pension obligations. The state’s misleading disclosures resulted from various institutional failures. As a result, Illinois lacked proper mechanisms to identify and evaluate relevant information about its pension systems into its disclosures. For example, Illinois had not adopted or implemented sufficient controls, policies, or procedures to ensure that material information about the state’s pension plan was assembled and communicated to individuals responsible for bond disclosures. The state also did not adequately train personnel involved in the disclosure process or retain disclosure counsel.

According to the SEC’s order, Illinois took multiple steps beginning in 2009 to correct process deficiencies and enhance its pension disclosures. The state issued significantly improved disclosures in the pension section of its bond offering documents, retained disclosure counsel, and instituted written policies and procedures as well as implemented disclosure controls and training programs. The state designated a disclosure committee to assemble and evaluate pension disclosures. In reaching a settlement, the Commission considered these and other remedial acts by Illinois and its cooperation with SEC staff during the investigation. Without admitting or denying the findings, Illinois consented to the SEC’s order to cease and desist from committing or causing any violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933.

The SEC’s investigation was conducted by Peter K. M. Chan along with Paul M. G. Helms in the Chicago Regional Office and Eric A. Celauro and Sally J. Hewitt in the Municipal Securities and Public Pensions Unit. They were assisted by other specialists in the unit including Joseph O. Chimienti, Creighton Papier, and Jonathan Wilcox.

This enforcement action marks the second time that the SEC has charged a state with violating federal securities laws in their public pension disclosures. The SEC charged New Jersey in 2010 with misleading municipal bond investors about its underfunding of the state’s two largest pension plans. Additional information about the SEC’s initiatives in the area of municipal securities can be found in its Report on the Municipal Securities Market released last year.


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Ray Lewis Is Selling His Gorgeous Oceanfront Home In Palm Beach For $5 Million

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ray lewis' florida house

Super Bowl champion Ray Lewis is selling his oceanfront home in Palm Beach for $5 million, according to Realtor.com.

The home has seven bedrooms, nine bathrooms, a sports room with a bar, and a chef's kitchen.

Perhaps the best part of the property however, is the backyard, which is right on the beach. There's also an infinity pool, an outdoor kitchen, and a giant patio perfect for summer parties.

The front of the home has a lot of palm trees



Here's a view from the back, it's right on the beach



The beach side of the home is awesome, starting with this private, tucked away pool



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AP Photographer's Instagram Pictures Show What Life Is Like In North Korea

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North Korea Instagram

Back in February, North Korea's local service provider Koryolink started allowing foreigners to access the internet on their mobile phones for the first time ever.

David Guttenfelder, the Associated Press' chief photographer in Asia, immediately began posting pictures from inside Pyongyang to his Instagram account. They quickly went viral.

Jump right to the photos >>

The pictures show snapshots of daily life in the country's capital, from propaganda posters lining the streets to what bar food looks like in Pyongyang. 

A veteran photographer and World Press Photo Award winner, Guttenfelder has traveled to North Korea more than 20 times since first accompanying former US Secretary of State Madeleine Albright in 2000 when she met the now-deceased leader, Kim Jong Il. "During that trip, we were told not to take photos from the bus we traveled in and my hotel window was covered with a black plastic sheet," Guttenfelder wrote on his blog.

Today, he is able to upload his images in real-time to his 74,000 followers.

“I feel I can help open a window into a place that would otherwise rarely be seen by outsiders,” he said on the Instagram blog. “As one of the few international photographers who has ever had regular access to the country, I feel a huge responsibility to share what I see and to show it as accurately as I can.”

But so far, the new change will only affect visiting foreigners — North Koreans do not have access to the new internet service.

Inside The Grand People's Study House, where students work at computers in winter coats.

Source: David Guttenfelder/AP



A view from the Grand People's Study House looking towards two Kim mosaics and a 3,000-unit apartment complex.

Source: David Guttenfelder/AP



Two women tend to infants in the Pyongyang Maternity Hospital.

Source: David Guttenfelder/AP



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Here's The Best Time To Buy Everything

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Lulu Lemon shoppers with shopping bagsSometimes, finding the best deals has more to do when when you shop than where.

"There really is a best time to do just about anything and everything, and that's especially true when it comes to buying things," writes Mark Di Vincenzo in his book, "Buy Ketchup in May and Fly at Noon"

Using tips from Di Vincenzo, along with time-tested advice from sources like DealNews and Mint, we've complied dozens of examples of the best times to buy just about everything. 

Click here to see the full guide >

Or, browse by quarter via the links below:

JAN. - MARCH

APRIL-JUNE

JULY- SEPT. 

OCT. - DEC.

JANUARY >>>



Bicycles

Bike lanes stay pretty empty in January, making stores roll out the deals on their stock of Schwinns.

New models will start rolling in by the middle of next month.



Paint

Slapping on a fresh coat of paint is a task normally reserved for the summer.

Home improvement stores often offer discounts in the winter.



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This Fitness Storage Belt Is The Perfect Accessory For Runners

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This is the FlipBelt Fitness Storage Belt.

Why We Love It: Running outside is great — except when you're trying to store your house keys, phone, earbuds, protein bar, Epipen, ID, or anything else you might want to take along with you. Most fitness gear has an inside pocket, but nothing is ever big enough to store all the things you need.

The FlipBelt is a wide poly spandex belt that has multi-access pocket openings. The idea is really simple: you put the items in and then flip the belt over.

The belt is designed to not ride up, and it's odor resistant, reflective, and machine washable. It comes in a number of colors, and looks just like an average waistband on shorts or pants.

FlipBelt storage for running

 

FlipBelt storage for running

 

Where To Buy: Available through OpenSky and The FlipBelt website.

Cost: $25.

Want to nominate a cool product for Stuff We Love? Send an email to Megan Willett at mwillett@businessinsider.com with "Stuff We Love" in the subject line.

SEE ALSO: The Kogeto Dot For iPhones Lets You Shoot 360-Degree Video

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Property Tycoon Buys One Of London's Biggest Homes For A Record $120 Million

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one cornwall terrace londonNearly a year and a half after it hit the market for a whopping $160 million, London's One Cornwall Terrace has sold to British property tycoon Marcus Cooper, according to The Sun.

He reportedly paid $120 million for the home, significantly less than its asking price. Even with the discount, it's a record price for a terraced home, The Sun reports.

The 21,500-square-foot mansion, near Regent's Park, is named after King George IV, who was originally the Duke Of Cornwall. It has seven bedrooms, nine bathrooms, and 11 reception rooms.

It was the official London residence of the New Zealand High Commissioner from 1955 until the 1970s, and was later occupied by squatters, according to The Sun.

But it later went a full restoration, and now includes a sports complex with an indoor swimming pool, iPad-controlled lighting, and a 40-meter landscaped garden.

Cooper, founder of Marcus Cooper Group, is a property developer in London whose portfolio includes residential and commercial properties throughout the city.

SEE ALSO: Nantucket's Most Expensive Estate Gets An $11.5 Million Price Chop

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JUDGE BLOCKS BLOOMBERG'S SODA BAN — Calls It 'Arbitrary And Capricious'

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Michael BloombergA judge has invalidated New York City's ban on large sodas, which was supposed to go into effect tomorrow, saying that the limits on sugary drinks are invalid, according to CNBC.

The New York City Mayor's Office said it would appeal the decision "as soon as possible" in a tweet shortly after the ruling came down.

Bloomberg's new sugary drink regulations are "fraught with arbitrary and capricious consequences," New York Supreme Court Judge Milton Tingling wrote, according to the WSJ

"It is arbitrary and capricious because it applies to some but not all food establishments in the City," the judge wrote. "It excludes other beverages that have significantly higher concentrations of sugar sweeteners and/or calories on suspect grounds."

"The simple reading of the rule leads to the earlier acknowledged uneven enforcement even within a particular city block, much less the city as a whole," he continued. "The loopholes in this rule effectively defeat the stated purpose of the rule."

The ban on large sugary drinks was supposed to go in effect Tuesday.

Earlier today, Bloomberg predicted that his new regulations would be accepted by most, according to the New York Post.

"I think you're not going to see a lot of push back here," he said.

We reached out to the Mayor's Office, which declined to comment. But it did tweet out a note:

More to come...

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8 Signs You Would Be Better Off Buying Groceries Online

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grocery-shopping-red-head

There are some of us who love grocery shopping. Comparing products side-by-side according to ingredients; smelling, prodding, and tapping the produce; analyzing the meat fat patterns before making a selection, and so on.

But if you're the type of shopper who gets easily aggravated by time spent rolling a cart down crowded aisles, waiting in checkout lines, loading up the car, and then lugging your haul inside, you may want to send your significant other to the store instead — or you could just try out online grocery shopping.

Wouldn't it be ideal to get groceries from your favorite local supermarket, without ever having to leave the comfort of the couch? An ever-growing number of grocers know the aforementioned pains for shoppers, and are thus offering ways for customers to order their groceries online, sometimes for delivery, other times for pickup.

The move from overly-lit grocery store aisles to the digital realm is both a time-saver and a peaceful alternative to the hassles of the supermarket. But is online grocery shopping for you? Here's a checklist to help you find out; if any of these apply to you and your lifestyle, then the service might be worth a test drive.

You Live in a Large City

More and more supermarkets are experimenting with allowing customers to place their orders online. For example, Peapod — owned by Royal Ahold, a large chain of stores that includes Stop & Shop and Giant, among others — offers grocery delivery in major metro areas, mostly on the East Coast, and it will expand to additional locations in 2013. The Great Atlantic & Pacific Tea Company offers online grocery shopping for many of its A&P stores (after emerging from bankruptcy earlier this year) in the Northeast tri-state area, while Safeway— the fifth largest American supermarket chain — offers grocery delivery in markets nationwide under its own brand as well as its owned stores: Vons, Randalls, and Tom Thumb.

That said, some delivery services, such as those for Hy-Vee stores, are operated by third-parties not affiliated with the actual supermarket. For this reason, they don't honor store deals, pricing, or coupon policies.

There are also online grocery services that don't have a brick-and-mortar component, like Amazon Fresh, which currently supports markets in the Seattle metro area. (Alternatively, Amazon Grocery offers items in bulk nationwide.) Other online services include Fresh Direct (available in the New York City and Philadelphia area only), as well as ShopFoodEx, Netgrocer, and a subscription-style frozen food site called Schwan's, all of which make deliveries throughout most of the U.S.

Your Grocery Shopping Is Quick and Routine

If there are regular items that your household regularly needs, especially within the nonperishable packaged goods category, then you will likely find shopping for these items online quick and painless, since you're essentially sticking to an unchanging list. Amazon takes the idea of such hassle-free shopping a step further though with its Subscribe & Save service: it offers scheduled automatic replenishment of basic items at a 5% discount. "These services take your stock-up trip and make it a no-brainer," says Liz Fogerty, Senior Vice President of Strategy and Planning at InMarketing Services, a retail shopper marketing agency.

Additionally, the more you use the service, the more you can save. Amazon recently announced that the extra discount for members with five subscriptions at a time jumps from 5% to 15% off. However, keep in mind that the prices on these items can change between shipments, and you should be aware that a special sale when you subscribe likely won't be offered on future shipments.

You Can't Get to the Store Easily

Recent research from Forrester suggests that convenience is the biggest factor in why people choose to grocery shop online. "We have seen that it's a real family solution for a busy couple with kids," says Sucharita Mulpuru, a retail analyst at Forrester. As more and more consumers become aware of delivery and store pickup options for groceries, the service offerings have grown. That's why Peapod placed coded transit ads on Philadelphia train platforms, to encourage commuters to shop for goods in the morning and schedule a home delivery for later in the day.

You Already Love Shopping Online

If you're already a savvy online shopper, switching to online grocery shopping will be a breeze. Stores are making it easier and easier to buy their goods outside of the home including via mobile apps that allow for digital grocery shopping anytime, anywhere. Delivery routes are expanding, too, and in-store pickup options are becoming more and more common.

You're on a Budget

Have you ever headed to the market to pick up "just a few things" and walked out with arms full of groceries and no bills left in your wallet? Turns out, this is less likely to happen online. "We have found in our research that shopping online using a pre-made, stored list prevents shoppers from usual impulse buys in-store," says Fogerty. "Online grocery shopping allows you to effectively and quickly stick to your list by getting you out of the store."

Moreover, many local supermarkets still accept manufacturer couponsonline, in line with store policies. However, some stores like Amazon andWalmart don't permit coupon clipping. The former has its own coupons and deals, and the latter accepts coupons in-store, but not online for groceries. "You'll have the best chance of using coupons, deals, and finding savings if you shop online at your favorite local grocery store, where you can use your loyalty card, too," says Fogerty. That said, according to Mulpuru, to date coupons have been widely underused, as price is not the main concern for many people who choose to grocery shop online.

You Can Afford the Delivery Fee

While online deals abound in most other categories, online grocery shopping is not always as cost-effective because of delivery fees and bulk purchase requirements. Some goods are sold only in large quantities, as on Amazon andMeijer, so initial orders may cost more, and you need to be aware of unit prices to be sure you are getting a good deal. That said, some merchants offer delivery subscriptions wherein the customer pays a base rate and is entitled to unlimited and free deliveries for a particular period of time.

You're Shopping for Specialty Items

This is one area where online grocery shopping really shines, says Smulpuru. If you are in the market for gluten-free, organic, kosher, or other local specialty items, online shopping is an easy way to find these goods under one roof. In addition, online grocery markets such as Relay Foods bring local farmers, food artisans, and specialty foods into the mix.

You're Willing to Try Anything Once

If you're willing to give online grocery shopping a go, you'll likely be rewarded! Most supermarkets waive the delivery free for new customers, allowing for a risk-free first order. Some sites will also offer free delivery upon reaching a minimum order. For example, Raleys in California has no service charge on orders over $100; Walmart likewise doesn't charge for shipping on orders of $45 or more (assuming the items are eligible for home delivery).

To avoid any and all fees associated with replenishing your cupboards by way of online shopping, you can always opt for in-store pickup when available. Many supermarkets even offer curb-side pick-up, meaning you don't even have to get out of your car! Talk about a time-saver.

While Fresh Direct and Peapod may be two of the most well-known store-to-door grocery services, the number of markets offering home (and office) delivery is growing. Are you an anti-grocery store shopper, already having your weekly provisions delivered at home? Or for those of you who haven't made the leap, does the convenience of shopping for groceries from anywhere entice you to try these services? Sound off in the comments below.

SEE ALSO: 27 products that wound up being huge wastes of money >

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15 Items Every Guy Should Have In His Kitchen

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Modern Kitchen bachelor pad

The kitchen is not always the priority for a guy outfitting his bachelor pad.

So we came up 15 kitchen accessories on the market right now that every man should have in his home.

Whether you're an amateur gourmet or use the sink strictly to mix drinks, these items will take any guy's kitchen to the next level.

The HoverBar is great if you're following recipe apps and tutorials. The adjustable arm rotates the iPad into portrait or landscape positions, and the clamp can attach securely to any surface.

Buy the HoverBar on Amazon for $80



Toaster ovens let you toast, bake, roast, broil or reheat just about anything. This Breville model can fit four slices of bread and automatically adjusts power and calculates cooking time.

Buy the Breville Toaster for $150



If you're really badass, you should probably own the DCI Knuckle Pounder Meat Tenderizer. It looks awesome and provides you with a great grip.

But the Meat Tenderizer here for $10



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Here's Why Millions Of Venezuelans Loved Hugo Chavez [PHOTOS]

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Venezuela Hugo Chavez

Before his death from cancer this week, Hugo Chavez had been President of Venezuela since 1999.

In that time he became a divisive figure, making serious economic reforms in the country,  seizing private property, and clamping down on criticism. Critics say that the Venezuela he created is simply not sustainable.

Even so, he had millions of supporters. Last year, while seriously ill from cancer, he was able to come back and win an election by a margin of 10 points, down from 25 percent in 2006.

One approval rating from last year gave him a 64 percent positive rating — 15 points higher than Obama received in the same poll.

We've selected some images that will give you a glimpse into Chavez's Venezuela — a Venezuela that could be about to change for good.

Venezuela's quality of life improved at the third-fastest pace worldwide during his time as leader.

Source:Business Insider



He helped cut the country's poverty rate to 29.5 percent in 2011 from 48.6 percent in 2002, according to the United Nations Economic Commission for Latin America.

Source:Business Insider



Venezuela moved seven spots to 73 out of 187 countries in the UN's index of human development from 2006 to 2011.

Source:Bloomberg



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A Lamborghini Murcielago Burned To A Crisp In China

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The Lamborghini Murcielago is a beautiful car. Even, it turns out, when it's on fire.

According to Car News China, which posted the photos and shared them with us, the Lambo may have been involved in an illegal drag race in Shenzhen on Sunday when the fire began.

By the time the flames went out, all that was left of the lime green supercar was a blackened hull.

The Murcielago, produced between 2001 and 2010, goes from 0 to 60 mph in under 3.5 seconds. It costs around $400,000.

lamborghini murcielago on fire in china

lamborghini murcielago on fire in china

Here's what it should look like:

Lamborghini Murcielago

SUPERCAR BATTLE: McLaren's P1 Vs. Ferrari's LaFerrari

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'Healthy Food Revolutionary' Jamie Oliver Called Out Again For Salty Food

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jamie oliver

Celebrity chef Jamie Oliver, who tried to make over America's eating habits on "Food Revolution and who has been dubbed a "healthy food revolutionary," was called out by a consumer group for serving heavily-salted dishes at his U.K. restaurant.

The Consensus Action on Salt and Health (CASH) looked at 667 main meals served at 29 restaurants, fast food outlets, and cafes in the U.K. It singled out big-name chefs, including Raymond Blanc and Gordon Ramsay.

But Oliver's Jamie's Italian was the study's biggest offender with its game meatball. The sampled dish contained nearly one and half times the daily maximum recommendation for salt, according to CASH.

On average, Jamie's Italian had the highest level of salt of any restaurants in their three tested dishes, CASH said.

A day after it released the results of the study, however, CASH came out with a follow-up statement saying it had met with Oliver's representatives and that "our result was unusual compared to the regular testing by Jamie's own team." 

The outspoken "health-conscious" chef told CASH he employs three full-time nutritionists who test food across all of his businesses.

But it's not the first time the salt content in Oliver's food has come under fire. In November of 2009, a study was released that said one portion of Oliver's olive and garlic sauce contained the salt equivalent of 10 bags of chips.

And in 2011, the Physicians Committee for Responsible Medicine said his cookbook was one of the five "worst" of the year after finding that one serving of his meatball sandwich contained more fat than a Big Mac and more than double the calories, cholesterol, sodium, and saturated fat.

Of course, it's not surprising that celebrity chefs were the worst offenders on CASH's list of restaurants with a heavy hand on the salt shaker it's proven to make food taste better.

And that may not be a bad thing, as recent studies have found that reduced salt diets may not have a significant health benefit after all.

DON'T MISS: Inside The Biggest Celebrity Chef Restaurant NYC Has Ever Seen

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A British Limo Service Wants To Make A Stretch Lamborghini Aventador

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stretch limo lamborghini aventador

The stretch Hummer limousine has been around for a good while, and for party-goes who want a new ostentatious way to get around town, the next great ride may come from a British limousine company.

Cars For Starts created an online rendering of a stretch Lamborghini Aventador, and it looks like an awesome way to go to your senior prom.

Cars For Stars says it has no current plans to turn the digital concept into a reality, but that it is looking for a "willing and passionate sponsor" to make it happen:

Extremely rewarding benefits of sponsoring the Lambo include 12 months of free advertising, as well as the renaming of the car to incorporate the name of the company! With the backing of someone who wants to see this stunning vehicle taken off the drawing board and onto the road, we'll soon be able to see the stretch Lambo become a reality!

It's a long shot, but if it ever gets made, it would probably be quite popular — though unable to match the real Aventador's 0 to 60 mph time of 2.8 seconds.

Here's the disappointingly small interior:

stretch limo lamborghini aventador interior

And the 3D video tour:

SEE ALSO: A New Generation Of Supercars Was Born At The Geneva Motor Show

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