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By 2020 Most Of The World's Super Rich Will Have Moved Their Money Out Of Switzerland

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soldier, army, switzerland, tilt shift

Switzerland is under siege

By 2020 the country will have lost its position as the number one destination for the wealth of the world's super rich to Singapore, says a report from private banking research group WealthInsight.

The report is their annual Family Office briefing, a deep dive into where money is moving in the most exclusive investment clubs in the world — in elite wealth management, family and multi-family offices. In 2011, it was a $19.3 trillion industry.

Switzerland had $2.8 trillion of that money. That's 34% of the pie, and more than anywhere else in the world.

But that's changing, and fast. Partly because governments have been scrutinizing traditional private banking centers like Luxembourg and the Caribbean lately, so the rich are looking for quieter places to base their cash.

However, WealthInsight also points out that the newly rich in countries like China and Indonesia are contributing to this move as well. Most emerging markets have a growing number of rich people, but lack the banking structure to service them.

Enter Singapore, a quick plane ride for Asia's wealthiest with a well-regulated banking sector. It also has a head start in the private banking. Singapore-based Portcullis TrustNet, for one, was mentioned in a recent International Consortium of Investigative Journalists report about how the super rich invest in tax havens with the help of talented private bankers.

In 2011 Singapore had $550 billion worth of private banking assets under management, in 2000 it had only $50 billion. That's massive growth that WealthInsight doesn't see that slowing any time soon.

So it sounds like they'll have no problem playing catch up.

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Enter To Win A Kindle Fire From Business Insider

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We're giving you a chance to win a Kindle Fire HD.  Become a newsletter subscriber now to enter.  If you're the lucky winner you will have a host of features at your fingertips.  

Entry deadline is May 31.

As a newsletter subscriber, you'll get daily updates and alerts on topics that matter most to you. You must subscribe to at least one newsletter to be eligible, so if you haven't already, be sure to choose one or more before submitting your entry.

CLICK HERE TO ENTER >

On or after May 31, 2013, we'll announce the lucky winner.

You must be a legal resident of the U.S. and a newsletter subscriber to win.

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This Silk Glasses Case Doubles As A Pocket Square

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This is Travelteq's newly released Pocchiali glasses case.

Why We Love It: This case is hand-made in Amsterdam from Italian silk. It works as a glasses holder that fits snugly in your jacket pocket, and even looks like a pocket square thanks to the fabric.

Each design has a reversible hue on the inside, and there are eight different color combinations including green, blue, yellow, and red.

It measures approximately 3 x 7 inches, and is a handy accessory to have this summer so you don't lose your sunglasses.

travelteq pocchiali sunglasses case

 

travelteq pocchiali sunglasses case

Where To Buy: Available through Travelteq.

Cost: $79.

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: Learn To Cook In Your Own Kitchen In Just 4 Weeks

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George Soros' Son Is Selling His NYC Townhouse With A Rooftop Basketball Court For $12 Million

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5 Centre Market Place

Two years ago, George Soros' son bought a townhouse in Little Italy with a domed basketball court on the roof for $11,999,900.

Now he's selling it for $12 million, says Curbed NY.

Wonder what he'll do with that extra $100...

The five story townhouse has four bedrooms, a sick roof terrace (there's a basketball court up there, remember), and a garden.

Jed Garfield, Matthew Pravda, and Christopher Ricchio of Leslie Garfield Real Estate have the listing.







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10 Hotels With Views Of Natural Wonders

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Jade Mountain St. LuxiaNothing man-made can rival Mother Nature at her finest.

For those who love the great outdoors, the most memorable vacations aren't at massive mega-resorts -- they're at hotels that bring you closer to some of the world's natural wonders.

From an historic landmark hotel in Yosemite National Park to a lodge at the top of a massive waterfall to luxury tree houses nestled among California's redwoods, these 10 hotels have natural settings that are truly jaw-dropping.

The Ahwahnee, Yosemite National Park, California

Nestled deep among the pine trees, cliffs, and canyons of Yosemite Valley is the 123-room Ahwahnee Hotel. This impressive structure was built out of stone, concrete, and timber in 1927 and is considered a National Historic Landmark. Rooms, with views of the Half Dome and El Captain summits, are filled with wooden accents and rich tapestries of Native American design.



Arenal Kioro Suites and Spa, La Fortuna/Arenal, Costa Rica

Arenal Kioro Suites is located at the base of a 5,437-foot active volcano -- so close that guests can actually see and hear small tephra eruptions. The hotel takes full advantage of its natural setting, and the rooms, restaurants, and pool all offer stunning volcano views. Big suites come with large hot tubs and two terraces.



Jade Mountain Resort, St. Lucia

Jade Mountain is one of the most luxurious and romantic resorts in the world, thanks in part to its views of St. Lucia's stunning Pitons. Each of the 29 enormous suites has an open fourth wall, whirlpool tub, and canopy bed; most have private infinity pools.



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6 Private Islands You Can Rent Right Now

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bahamas musha cay super lux vacation rentals

It seems like everyone is talking about private islands these days.

It's rumored that Jay-Z is looking for a private island getaway for wife Beyonce and baby Blue Ivy, and Skorpios — the most famous private island in Greece — just sold to an anonymous Russian billionaire for $153 million.

But you don't need to buy a private island to enjoy the feeling of being completely secluded.

Luxury Retreats, a luxury villa vacation company with more than 2,000 properties, has half a dozen private islands for rent. They aren't cheap, but they are ideal for a true getaway.

MUSHA CAY is David Copperfield's private island resort in the Bahamas. It has rentals that start at $37,500 per night and go up to $52,000 during peak season.

Source: Luxury Retreats



The island can accommodate 24 guests. They can either stay in the 10,000-square-foot home at the top of the hill, or in a thatched-roof beach house on the outskirts of the island.

Source: Luxury Retreats



From handcrafted mahogany terrace to massage tables and a steam room, this island truly has it all.

Source: Luxury Retreats



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The Rise And Fall Of The Gourmet Cupcake

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cupcake

Gourmet cupcakes have been popping up everywhere for the past decade.

The trend that supposedly started with a "Sex and the City" episode went nuclear when Crumbs Bakery went public in a reverse merger worth $66 million in 2011.

But things quickly south for Crumbs, and now it seems the whole trend may be in trouble.

The Wall Street Journal declared today that the gourmet cupcake market is crashing.

The craze first began in 2000, when Miranda and Carrie munched on Magnolia's Cupcakes on an episode of Sex and the City.

People quickly jumped on fashion trends the show featured.

This time, they jumped on the culinary trend, too.



Tourists started flocking to Magnolia Bakery's West Village location. And then a Sex and the City tour bus made the location a destination on its NYC tour.

Emma Forrest wrote an article detailing how the cupcake craze at Magnolia ruined her neighborhood, as tourists began flocking their in droves.

Even Magnolia couldn't keep up with the demand and was taken off the tour in 2010. It was replaced with Billy's Bakery.



After that, cupcake shops started popping up around the country. Sprinkles Cupcakes, founded in 2003, was one of the first.

Its cupcakes went for $3.50 and it bills itself as being the instigator of the cupcake craze.

Its founder, Candace Nelson, later became a judge on Food Network's Cupcake Wars.



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Cars Are Becoming So Expensive Auto Loans Take Record Time To Pay Off

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2013 range rover test drive utah desert suv

As car prices continue to rise, some auto loan terms have lengthened to a whopping 96 months, or eight years.

It's an attempt to make monthly payments more affordable for consumers, but financial experts say such lengthy auto loans can be a bad idea.

The average price of a new automobile is $31,200, according to Kelley Blue Book. To make that more palatable for consumers, lenders are allowing them to spread payments over more years.

In March, nearly one-third of auto loans were for 72 months or longer, a record high, according to J.D. Power and Associates.

"It used to be that 36 months was considered a standard loan," said Mike Sante, managing editor of Chicago-based Interest.com.

Because vehicles last longer today, consumers might justify taking a longer loan. The average age of a vehicle today is 11.

Jack Nerad, executive editorial director of Kelley Blue Book, said consumers are demanding pricey vehicles with smaller payments. "People want nicer cars with more stuff," he said. "And they just can't afford it otherwise. ... It's up to people to make that decision."

The trend toward longer loan terms might be aiding U.S. auto sales. New-car sales in March were the highest since August 2007, according to kbb.com.

But Richard Barrington, personal finance expert for MoneyRates.com, called it a "disturbing trend" and perhaps a sign of desperation for lenders and borrowers.

"Ultimately, it is just another way of getting people to take on more debt," Barrington said. "It is also disturbing that people should feel the need to lengthen out car loans at a time when low interest rates have already made loan payments unusually affordable."

A longer loan term often means buyers pay more interest -- and higher interest rates -- and stay "upside down" longer, meaning the borrower owes more than the vehicle is worth.

"When you talk about going to seven years to pay off a car, you are going to be underwater for five of those seven years," Sante said. "That puts you in a bind if you need to sell the car."

Many personal finance experts suggest the 20-4-10 rule. It means you should have a 20 percent down payment on a car loan, borrow for no more than four years and make sure car payments are no more than 10 percent of your gross income. Others express it as keeping payments lower than 20 percent of take-home pay.

"If you have to go past 48 months -- and definitely if you have to go past 60 months -- to get a monthly payment you can afford, you're spending too much money on that car," Sante said. "It should really tell you something as a consumer."

Consumers clearly aren't heeding that advice. Last year, 89 percent of auto loans exceeded the four-year rule, according to Experian Automotive. And the recent trend is toward longer loans. In 2010, about 9 percent of auto loans extended past six years. Last year, that rose to more than 16 percent.

Gregory Karp's Spending Smart column appears regularly in the Sunday Money & Real Estate section.

gkarp@tribune.com

Twitter @spendingsmart ___

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The Most Outrageous Outfits At Coachella

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Coachella 2013 crazy outfit

When it's nearly 100 degrees in the desert on the outskirts of Palm Springs, clothing is limited, and sometimes even optional.

In recent years, the annual Coachella Valley Music & Arts Festival has become as much of a fashion show as it is about the music.

Some trends we noticed on the fields this year: bikinis, body paint, masks, headdresses, wigs, floral crowns, cut-off shorts, and embellished sunglasses.

Usually all worn at once.

Coachella-goers are known to bring out their craziest and most colorful outfits for the three-day festival in the hot desert.



Even the musicians — like Lindsey Troy and Julie Edwards of Deap Vally — get in the spirit.



Masks and head gear were a big theme this year.



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Hedge Funders Are Building Huge Barricades To Protect Their Hamptons Mansions From Washing Away

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Joshua Harris, Hamptons Home

After super-storm Sandy, a bunch of hedge funders have set up barricades to protect Hamptons mansions and property from the wrath of the ocean.

The New York TimesMichael Schwirtz reports: 

...Joshua Harris, a billionaire hedge fund founder and an owner of the Philadelphia 76ers, began to fear that his $25 million home on the water here might fall victim to the next major storm. So he installed a costly defense against incoming waves: a shield of large metal plates on the beach, camouflaged by sand.

His neighbor, Mark Rachesky, another billionaire hedge fund founder, put up similar fortifications between his home and the surf. Chris Shumway, who closed his $8 billion hedge fund two years ago, trucked in boulders the size of Volkswagens.

But there's another storm brewing in Southampton, though.

According to the report, there are concerns amongst locals that these fortifications designed to protect these multi-million summer homes could actually speed up the erosion of public beaches.

Beaches in front of dunes in the Hamptons are open to the public, the report said citing local laws. The property behind the dune belongs to the homeowner.  

"All these people are extremely rich and they’re broadcasting the message of 'Me first,'" Fred Havemeyer, a member of the Town of Southampton board of trustees told the NYTimes.

Harris is the co-founder of Apollo Global Management. His wall cost about $50,000, according to the NYTimes.

Rachesky runs MHR Fund Management. Shumway was a so-called "Tiger Cub" fund manager. 

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Carnival Will Spend $700 Million To Prevent Fires And Blackouts On Its Ships

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US Coast Guard and Carnival Triumph

Carnival Corporation will spend up to $700 million to upgrade its fleet of 101 cruise ships.

$300 million of that money will be used to upgrade the 24 ships operated by Carnival Cruise Lines, with improved emergency generators, engine rooms, and fire systems.

The funds will also go to expanding the availability of hotel service for guests in cases where a ship loses power, Carnival announced Wednesday.

Carnival Corporation & plc operates ten lines, including Carnival Cruise Lines.

The upgrades to the 24 ships are a direct response to a string of high-profile failures in the past few months that started in February, when an engine room fire stranded the cruise ship Triumph. More 4,000 passengers were adrift in the Gulf of Mexico for five days, with no hot water and few working toilets.

That incident was followed a month later by problems onboard the Dream and Legend ships, just a week apart. The Carnival Fascination failed a recent health inspection after inspectors found live flies, roach nymphs, dried food waste, and many other violations throughout the cruise ship.

Carnival Cruise Lines CEO Gerry Cahill stood by the company's safety standards, but did not deny there's room for improvement. In a press release, he said:

However, by applying lessons learned through our fleet-wide operational review after the Carnival Triumph fire and by taking advantage of new technologies, we have identified areas for enhancement across our operations.

Carnival will also form a new safety and reliability review board, staffed by outside experts, to provide a third-party perspective on its operations.

SEE ALSO: A Photo History Of Carnival Cruise Ship Disasters

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It's Now Legal To Take Home Your Roadkill In Montana

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dead roadkillThis post originally appeared at Edible Geography.

Roadkill cuisine has been making headlines this spring, after the Montana House of Representatives passed a bill (by 99 votes to 1) that allows the state’s motorists to collect and eat the deer, elk, moose, or antelope that was unlucky enough to get in their way.

Apparently, food banks in the state already collect freshly killed wild animals from the highways, clean and dress them, and distribute them to the poor, so Montana HB247 simply legalises common practice.

As demonstrated by an interactive map created by Marketplace, several states already have similar laws on the books. Florida is the most permissive: according to Marketplace, “If you hit a deer, it’s legal to take it home and do whatever you want with it. You don’t need permission.”

Most states with roadkill bills do require drivers to notify the authorities; for example, in New York state, residents can salvage deer, moose, or bear from the highway, but only if the collision is reported and deemed to be accidental. A handful of other states expressly forbid the collection and consumption of roadkill, including, somewhat counter-intuitively, that well-known home of guns, “freedom,” and feral hogs, Texas.

In some rural counties in Alaska and Vermont, you can even add your name and number to roadkill phone trees: the state game warden will give you a call when there’s a fresh moose or deer “that’s not too smooshed.” 

Opinions are sharply divided as to the desirability of eating roadkill.

PETA endorses it, saying that, “If people must eat animal carcasses, roadkill is a superior option to the neatly shrink-wrapped plastic packages of meat in the supermarket.” Fans point out that, as an alternative protein source, roadkill is free, naturally lean, raised without the energy and chemical-intensive inputs of farmed livestock, and avoids waste (though this last point seems moot, as there are several other species that are only too happy to dine on the flattened fauna that humans leave in their wake).

As far as taste goes, Alaskan roadkill aficionados describe moose as “like hamburger, but with more flavour,” and savour the animal’s gelatinous nose, while British conservationist and regular roadkill consumer Jonathan McGowan sang the praises of the UK’s squashed birds and mammals to The Ecologist magazine last year:

I’m a sucker for deer and pheasant though, and I love fox. It’s delicious – like a very lean, sweet tasting pork. Similar to rat actually.

However, not everyone is convinced. Critics point to the parasites and worms harboured by wild animals, and even fans admit to finding roadkill more appetising in the winter, when the cold acts as a natural refrigerant, halting decay. And, although pounding chicken or veal cutlets flat before cooking is a well-established technique in the French culinary canon, Marketplace reports that flattening an animal as you kill it does not produce such delicious results:

A deer that’s been slammed by a car might not have all that much edible meat. “Blood will go into that muscle and that meat is no good,” says Nick Bennett, who owns Montana Mobile Meats and processes wild game. Just how much meat you can get out of the roadkill depends on exactly where and how hard you hit it.

One of the more interesting aspects of the media coverage is discovering just how common car-animal collisions are. A spokeswoman for insurance company State Farm told Marketplace that they estimate “one and a quarter million drivers every year have some sort of altercation with a deer while in their car” in the United States. The Ecologist reports that “The Mammal Society estimates that some 100,000 foxes, 50,000 badgers and between 30,000 and 50,000 deer are killed on UK roads every year.”

For retired biology professor Roger M. Knutson, the Michigan-based founder of the International Simmons Society for the study of flattened fauna, this ubiquity speaks to roadkill’s larger importance. In his book, Flattened Fauna: A Field Guide to Common Animals of Roads, Streets, and Highways, he notes that “those (up to now) non-descript spots and blotches of fur, feathers, and scales are the wildlife we see most often, yet nowhere has there been a guide to their identification.”

Knutson’s approach to the thirty-six most common North American roadkill specimens is that of a naturalist (albeit one with his tongue firmly in cheek), rather than a gourmet. As more and more people live in cities and biodiversity shrinks, squashed animals seem to be bucking the trend, rising in numbers — although, as Knutson laments, both historical and current data on roadkill is thin:

At a time when the total world fauna is surely shrinking in both absolute numbers and species complexity, the road fauna is clearly increasing. Before 1900, in the United States, its presence was recorded by only the most fragmentary references to the occasional horse-stomped snake. With the development in the twentieth century of a much elongated road network and dramatically increased traffic speed, the flattened fauna has increased in both species and total numbers.

Knutson cites an early count, in the “1938 classic, Feathers and Fur on the Turnpike,” in which New Englander James Simmons (in whose honour the Simmons Society is named) measured a density of 0.429 dead organisms per mile. A more recent study in Nebraska suggests that roadkill density may since have risen to 4.10 animals per mile. “This means,” Knutson notes, “that a trip of 1,000 miles could be the occasion for seeing, identifying, and even enjoying anywhere from 400 to 4,000 animals.”

An extremely slim paperback, Flattened Faunais nonetheless full of gems: Knutson’s sense of humour belies his detailed study of the “remarkable persistence” of muskrats on even the busiest motorways, the unfortunate tendency of cold-blooded snakes to seek large, flat, sun-warmed surfaces at night, and the particular silhouette or “form toward which” each different animal tends, in its two-dimensional afterlife (“genuine dorsi-ventral flattening is uncommon for rabbits,” for example). Indeed, the study of roadkill has a serious use, beyond entertainment value: as biologist Bob Brockieexplained to Radio New Zealand’s This Way Up programme a couple of years ago, counting squashed animals on the road provides an excellent guide to shifts in population numbers and migration patterns.

Perhaps the most intriguing aspect of both roadkill cuisine and roadkill safaris, however, is what it tells us about the car’s influence on our changing relationship with animals. In Flattened Fauna, Knutsen speculates that “if the road habitat and its major selective pressure — fast-moving vehicles — were to persist,” we might expect to see the emergence of characteristics related to successful highway negotiation. Indeed, though with a certain degree of scepticism, Knutsen quotes Victor B. Sheffer, author of Spires of Form, Glimpses of Evolution, who believes that “hedgehogs have learned genetically, within our century, to run from approaching automobiles instead of curling up in the defensive posture of their pre-auto ancestors.”

As for humans, as Knutson notes, many of us will drive at least two hundred miles, passing anything from five to twenty-five squashed animals, for every mile we walk in the natural world, observing live animals. Given our lifestyles, it seems only logical that we learn to extend our appreciation of animals to their two-dimensional forms — with, of course, the help of his book, “which is devoted to making the experience of seeing dead animals on the road meaningful, even enjoyable.”

Meanwhile, having domesticated both ourselves and our food supply, we could perhaps argue that the underground popularity of roadkill cuisine is a technologically enhanced resurgence of our inner hunter-gatherers — even if the hunting is being done, for the most part, from the leather seats of a four-wheel drive. Although Montana’s new law has apparently been written to discourage intentional collisions, examples have been reported of roadkill poachers, who, rather than using a bow and arrow or gun, simply put a jam sandwich or sausage roll on the road as bait, and then lie low waiting for a passing vehicle to kill their dinner for them.

Hours of study have been devoted to understanding the ways in which cars have reshaped the built environment, our perception of space and time, and even the global atmosphere; perhaps roadkill provides a small, easily overlooked example of some of the ways they have also redesigned our relationship with the animal world?

SEE ALSO: The Rise And Fall Of The Gourmet Cupcake

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Lance Armstrong Just Bought A $4.3 Million Home In Austin

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lance armstrong house

After reportedly selling his house for much less than the $10 million asking price last week, Lance Armstronghas scooped up a $4.3 million home in Austin, according to Curbed.com.

The home sits on 3.6 acres of property which extends to Lake Austin.

The entire compound, which consists of four separate buildings, is 12,500 square feet and was designed by Arthur Andersson, a local architect.

The house is very modern looking on the outside



It has a nice, secluded pool



Lots of outdoor space



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Here's The New SUV Mercedes-Benz Is Building To Compete With BMW

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mercedes-benz GLA concept

The compact SUV class might just get a little cooler if the production GLA Class looks as good as the Concept GLA unveiled today at the Shanghai Auto Show.

The Concept GLA is on the road to production — we've spied both normal GLA Class crossovers in development and the high-performance version, the GLA45 AMG.

In fact, we're expecting the production version to be unveiled at the 2013 Frankfurt Auto Show in September ahead of a sales launch early next year.

Packaging an off-road stance (though we're not expecting much off-road ability) with a punchy 208-horsepower turbocharged four-cylinder engine piped through a seven-speed dual clutch to power 4Matic all-wheel drive, the Concept GLA is aimed at a new and likely difficult space in the market. The GLA will have to compete with the BMW X1 and Audi Q3.

"The Concept GLA marks a new approach for us in the compact SUV segment — this is a sporty and more coupé-like evolution of this category of vehicle", said Dr. Joachim Schmidt, executive vice president Mercedes-Benz Cars, sales and marketing.

The Concept GLA is based on the same architecture that underpins the A Class, B Class, and the CLA Class.

mercedes-benz GLA concept interiorDigging deeper into the design and concept-only features, the exterior uses SUV cues to give a rugged look: raised pads ("softcubes") are used to define the radiator grille, side sill panels, and exhaust surround; a power dome hood and the now-familiar forward-thrust grille and star; and a "dropping line" running the length of the car from front to back.

Skipping the all-LED design meme for the GLA's headlights, Mercedes-Benz shows a laser-based headlamp system. Using the headlamp-mounted lasers, the COMAND multimedia system can project pictures or videos onto any surface. Conveniently, Mercedes also allows the videos or pictures to be displayed inside the Concept GLA as well.

The laser/LED headlights also offer a "coming home" function, pulsing with a blue light to show the GLA is ready for its driver.

A pair of cameras in the hood can be used to generate 3D images or be removed for your usual action sport montage: mountain biking, kayaking, skiing, etc.

Inside, the Concept GLA uses over 65 hand-stitched seams for the leather, dark galvanized aluminum trim, wrapping around four individual seats.

An aluminum framework sits on a leather-surfaced dashboard, with visible screws, and plexiglas controls.

For more on the future of the GLA as it heads to production, be sure to follow our ongoing GLA Class coverage.

SEE ALSO: Here Are All The Changes We Hope Cadillac Makes In The Next Escalade

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The 26 Most Impressive Students At Yale Right Now

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Marina Horiates Yale

Yale is one of the best universities in the U.S. — if not the world.

Each year, it attracts top high school applicants, this year had a record-low acceptance rate of 6.7%.

As a result, Yale has some pretty remarkable students. We found 26 particularly impressive undergraduates at Yale.

They're entrepreneurs, composers, athletes, scientists and writers who are making a difference in the world.

Jenny Bright is a Rhodes Scholar who was editor-in-chief of the Yale undergraduate Law Review.

Class of 2013

Bright is finishing her senior thesis on public-health initiatives under the Bloomberg administration, specifically critiquing the process of policy making behind the 2002 smoking restrictions, the 2008 trans-fat restriction, and the recent attempt to limit the portion size of soda.

She was editor-in-chief of the Yale undergraduate Law Review, and was President of the Urban Collective, a group of undergraduates who are interested in urban studies who come together to discuss topics relevant to cities.

In November, she was named a Rhodes Scholar and will pursue a Master of Public Policy at the Blavatnik School of Government at Oxford next year.

She hopes that her studies in the U.K. will allow her to ground her interest in urban health in a public-policy foundation.

Eventually, she wants to attend law school.



Victoria Buhler ran Yale's Model United Nations team and is interested in international relations.

Class of 2013

Buhler works with Professors Robert Shiller and Mobel laureate George Akerlof as a research assistant for their upcoming behavioral economics book.

She ran Yale's Model United Nations team. They had an undefeated season including winning at the largest national competition.

She edited the Yale Economic Review, and used to teach international relations to local New Haven high school students.

Recently, one of her papers was used as the basis for David Brook's Op-Ed column in the New York Times.

Next year she will be studying international relations at Cambridge before returning to the Boston Consulting Group.



Kevin Daly recovered from a severe boating accident to become captain of the rugby team.

Class of 2014

During Daly's junior year of high school, he had a severe boating injury when his leg was run over by a propeller.

He was completely out of athletic activities for a while, but used rugby as a recovery method and a way to return to competitive sports. Eventually, he became captain of the Yale University Rugby Club.

Daly is also on the Model United Nations team, and won Best Delegate in the largest delegation at Nationals last year.

He is very involved with his fraternity, serving as social and rush chair.

Daly plans to write his senior essay on Irish ideas of sovereignty during the Euro Zone crisis.



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Russian Gambling Ring Allegedly Used MMA Fighters To Collect Debts

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Stephan Bonnar (top) and Kyle Kingsbury (bottom) during an UFC Light Heavywieght bout at the HP Pavillion

A number of the 34 individuals accused of running an international gambling ring based in the U.S. and Russia were arraigned in a New York City Courtroom yesterday, and that means more juicy details about the organization's clandestine activities.

According to an indictment filed by federal authorities earlier this week, for years the Nahmad-Trincher and Taiwanchik-Trincher groups catered to the poker and sports betting needs of the world's most rich and powerful — oligarchs, Hollywood stars, Wall Street bankers and more.

All the while, they laundered their ill-gotten gains through banks and businesses all over the world, using violence to intimidate clients when they could not settle their debts.

At yesterday's arraignment, reports GalleristNY, Judge James C. Francis spent most of his time on Arthur Azen. Azen faces 115 years in jail, more jail time than any other defendant, and a $2.25 million fine.

Even though he wasn't a leader of either Trincher group, the prosecution argued that Azen had a hand in every sector of the gambling business, collecting money, distributing it through the organization, and making sure that debts were paid.

From GalleristNY:

“Mr. Azen’s job is basically to suck money out of Titan and funnel it to” other defendants, said one of the prosecutors.

The prosecution also stated that Mr. Azen sent mixed martial arts fighters to collect from one of the Nahmad-Trincher organization’s debtors. The federal agents monitoring Mr. Azen were apparently “so concerned” for the wellbeing of a person who owed money that they intervened on one occasion by sending in police officers to protect the debtor.

The defense explained that Mr. Azen was “managing and promoting” mixed martial arts fighters, not using them to intimidate debtors.

The Trincher groups' alleged leaders were not at the arraignment, and getting them to a NYC Courtroom may be a delicate and diplomatic operation.

According to authorities, the leaders of the Trincher groups were Alimzhan Tokhtakhounov, Vadim Trincher, his son Ilya Trincher, and billionaire art dealer Hillel "Helly" Nahmad.

Tokhtakhounov, based in Russia, has been in trouble with U.S. authorities before. He was accused of trying to rig the Salt Lake City Winter Olympics and was detained at his Tuscan villa in 2002.

The "Vor" (basically Russian for "Godfather") managed to stay in Europe, however, when Italian authorities overturned his extradition order to the United States. He has been linked to powerful politicians in Russia, including Vladimir Putin, says the NYT.

Helly Nahmad is another story. The police raided his family's Upper East Side gallery on Tuesday, but he was in Los Angeles where he was supposed to surrender to authorities later that day — he has yet to be found.

The Nahmad family is one of the wealthiest art dealing families in the world. Their roots are in Aleppo, Syria where the family scion (also named Hillel) first made his mark on the world of banking.

Eventually, the family made its way to Europe and then to NYC, where one of the two Helly Nahmad Galleries is located.

The family is known both for its incredible up to 5,000 piece private collection (90% of which is held in storage) and its secrecy. Forbes estimates 34 year-old Helly's father's wealth at $1.75 billion.

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All Of These Elite Groups Don't Have Any Women

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Boys Club

There's a Tumblr, 100 Percent Men, circulating right now that highlights all the organizations that are led, and have historically been led by only men.

Created by Lydia DePillis, a staff writer at the New Republic, the site is meant to bring awareness to how far our society is from true gender equality. DePillis doesn't offer much commentary, beyond a description at the top of the site: "Corners of the world where women have yet to tread. Shine a light."

Rebecca Greenfield at The Atlantic writes that "DePillis says she had 'no proactive intent' when creating the site, the natural order of things suggests awareness will facilitate change."

Facebook COO Sheryl Sandberg discussed the issue of gender equality in her controversial book, "Lean In." Sandberg has been outspoken about how we're in a "stalled revolution" for women, and points out in her book that currently women hold 16 percent of board seats and only 21 of Fortune 500 CEOs are women.

"Every commissioner ever of Major League Baseball, the National Football League, National Hockey League, and National Basketball Association."



"Every CEO of every airline in the Star Alliance and every CEO of every airline in oneworld."



"Secretaries General of the United Nations."



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Georgetown's Business School Will Now Offer A Meditation Class Inspired By Hedge Fund God Ray Dalio

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ray dalio

It's a well-known fact that hedge fund god Ray Dalio, who runs Bridgewater Associates, loves to meditate. 

In fact, he has attributed the practice to his success as a hedge fund manager. Dalio is one of the world's most successful hedge fund managers. 

It looks like meditation is getting some serious attention in the business community.

Just last week, Georgetown University's McDonough School of Business said it would offer meditation as a class, according to Reuters' James Saft.

Reuters reports: 

At a conference last week in Washington, Dalio expounded on how his practice of meditation has helped his investment performance. Georgetown University, at the same conference, announced it would begin to offer a semester-long class on the discipline at its graduate business school.

Now that sounds like an awesome class. 

Now check out Dalio in this video explaining how meditation "was the biggest ingredient of whatever success I've had." 

Ray Dalio on Meditation from Meditation WCCM on Vimeo.

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Wild Photos From The World's Biggest Water Fight In Thailand

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Thailand's Songkran Festival 2013

Thailand's Songkran New Year Festival used to signify a cleansing of bad luck and a new beginning. The younger generation would ask for the blessings of their elders, and pour scented water over their hands as a sign of respect.

Now, it's an all-out water war. People take to the streets with hoses, buckets, and water guns as they try to get everyone around them as sopping wet as possible.

Though Thailand is not the only country to hold the nation-wide water fight, it is the most famous. Tourists come from all over the world just to be a part of the wet and wild activities.

But there is a darker side to the celebration — the traffic accident death toll usually doubles during this time of year since all the festivals lead to widespread drunk driving.

Some people in Thailand still observe the old Songkran tradition of washing their elders' hands with scented water to show respect.



But most just join in the all-day water fight that rages in the streets.




Hoses, buckets, and squirt guns are the favorite weapons for those celebrating the New Year.



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What Classic Ads Would Look Like If They Had To Use Social Media

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classic hathaway ad

What would classic ads that shaped the advertising industry look like if a creative team had to reconfigure them into effective digital campaigns?

Ireland-based advertising creative Eoin Conlon decided to figure it out, aiming to open up a discussion on how the industry uses and abuses social media.

"I think in a lot of cases social media is just bolted onto the end of a campaign, with obligatory Twitter accounts, Facebook pages, etc., and I just think if there's no apparent reason for its inclusion in the campaign then it can end up doing more damage than good," he told Business Insider.

Conlon recreated VW's "Think Small" campaign, Apple's "1984" commercial, and more, to be Facebook, Twitter, and YouTube appropriate.

"The whole thing of finding us on Facebook or the battle for likes and shares is ludicrous if there's nothing of substance behind it," he said. 

This is a classic ad for Hathaway shirts, by Ogilvy & Mather in 1951.



Today, the character would no doubt have his own Twitter account.



Just like Dos Equis' "Most Interesting Man in the World."



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