First Look at 40 MPG Hyundai Elantra - Magic

by Christopher DeMorro
40 mpg is the new magic number when it comes to small cars, and the battle lines are being drawn. The latest entry comes from Hyundai, whose new 2011 Elantra gets 40 mpg, on the base model.
Last week GM was the one making waves with its Chevy Cruze Eco, which set the bar at 42 mpg on the highway. It is a lofty number requiring a number of aerodynamic improvements such as a front grille shutter and lowering the ride height, as the Cruze Eco does. The Elantra, which looks great, also manages to get 29 mpg, which is one better than the Eco. While Hyundai hasn't released pricing for the 2011 Elantra the Cruze Eco is priced at $18,995. The current Elantra starts at about $14,145, and prices shouldn't go up too drastically, meaning the Elantra will have a price advantage over the Eco that ought to make up for that 2 mpg discrepancy.
Under the hood, the 2011 Elantra gets a 1.4 liter engine that makes 148 horsepower and 131 ft-lbs, the same neighborhood as the Cruze. There are going to be just two trim levels initially, GLS and Limited. Even the base model GLS gets power windows, remote keyless entry, six airbags and four disc brakes. Limited models get bigger 17" wheels, fog lights, sunroof, and leather just about everywhere. The Elantra also weighs just 2,661 pounds for the GLS, and just over 2,700 for the Limited, making it quite the light car. Style didn't suffer though, and I really dig the "flowy" lines. More details will emerge after its official L.A. Auto Show debut.
There are also rumors that the new Elantra might get a "touring" edition featuring a hatchback. Of course there is always the possibility of a hybrid or Eco Elantra as well. 45 mpg Hyundai anyone?
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Superman powers Magic to win over Hawks - Magic

The Magic, who bullied Atlanta during a 4-0 best-of-seven sweep in last season's playoffs, had to dig deep for a win in the first meeting this season between two of the top teams in the NBA's Eastern Conference.
Orlando won by an average of 25.3 points in eliminating Atlanta during the second round of the 2010 post-season, but the rematch saw a competitive contest throughout with the visitors taking a one-point lead with close to five minutes left.
"We wanted to show the Orlando Magic that we could come in and make a game of it, and not just hand them the game," Hawks forward Josh Smith told reporters despite his team losing for the 11th time in 12 meetings with Orlando.
Jason Williams, playing in place of injured starting point guard Jameer Nelson (ankle), drained a go-ahead three-pointer with 4:15 remaining and Rashard Lewis scored less than a minute later to put Orlando (5-1) on top 86-82 en route to their fourth straight victory.
Vince Carter added 19 points including five points in the final 1:12 to secure the win.
"If we're going to continue to fight that hard even when the shots aren't falling, then we have a chance to be really good," said Orlando coach Stan Van Gundy. "I know we're going to shoot the ball well at some point."
Joe Johnson scored a team-high 23 points while Smith put up 13 points and 13 rebounds for Atlanta (6-2) which lost for the second straight night after beginning the season 6-0.
The Hawks fell 118-114 to the Phoenix Suns on Sunday but seemed to rebound early when they raced to a 13-point first quarter advantage.
However, Orlando recovered with a 19-2 run between the first and second quarters.
(Reporting by Jahmal Corner in Los Angeles; Editing by Alastair Himmer)
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Young voters pose skeptical questions to Obama - Magic

* Obama on end of skeptical questions
* Hopes for greater cooperation with Republicans
By Patricia Zengerle
WASHINGTON, Oct 14 (Reuters) - U.S. President Barack Obama
faced some skeptical questions from young people and defended
his policies, from job creation to immigration, on Thursday in
an effort to rev up Democratic voter enthusiasm for the Nov. 2
midterm elections.
Obama appeared at a live television event in his latest
attempt to reach young people and recapture some of the magic
from his 2008 presidential victory as polls show the Democrats
trailing in the congressional vote.
One man peppered Obama with questions about his economic
policies and asked whether he would deserve re-election in
2012. "Why should we still support you going forward with your
monetary economic policies, and if the economy doesn't improve
over the next two years why should we put you back in?" he
asked.
Obama said he took office when the country was in the
throes of the worst financial crisis since the Great Depression
and the $814 billion economic stimulus he pushed through
Congress "no doubt" saved or created 3 million jobs.
"While the economy was contracting when I came into office,
it's now growing," he said. "With respect to the private
sector, we've seen job growth nine consecutive months."

� Continued...
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COLUMN: A painful holiday's end for Europe - James Saft - Magic

(James Saft is a Reuters columnist. The opinions expressed are his own)
By Jim Saft
HUNTSVILLE Ala. (Reuters) - Europe's long summer holiday still has a week to run but this year's reentry will bring with it evidence that very little progress has been made on the issues that threaten to rend the currency union and upend the global economy.
Despite waving the stress-test magic wand over its banks in late July the same problems continue to grow unchecked: a euro zone periphery that can't compete, may not be able to pay its debts and so may bring down with them the very banks that have been pronounced healthy.
While the German economy is growing at a rate not seen since the Berlin Wall came down, things are a good bit worse in Ireland, Portugal, Spain, Italy and especially Greece, all of which face some combination of an austerity-induced recession and debts public and private which which threaten their banking systems, local governments and Treasuries.
Investors have looked at this on the one hand and on the other a $1 trillion bailout, a pliant International Monetary Fund and the results of the stress tests and have voted with their feet: average spreads between German and peripheral country bonds are back in territory last seen in June and heading north. Ten-year Greek bonds now yield 861 basis points more than German issues, or about where they were in May when we were all debating the chances of the euro surviving in its current form.
Irish bonds too have underperformed alarmingly as austerity without debt rescheduling does what austerity without debt rescheduling does: kills growth and kills the prices of assets the debts are secured upon, leaving the country less able to service its debts and more likely to default even harder. Yes, defaults are like sneezes; some are polite and soft and some splatter everyone in the room.
A number of interlocking stories show that, while European central bankers are talking a firm game about upgrading growth forecasts on the back of German exports, their actions show continued very strong concern.
First comes news on Monday that Anglo Irish Bank has transferred a new batch of impaired loans to the state-run bad bank National Asset Management Agency at just 38.1 percent of their face value, a price lower than the last transfer and one that, while it may prove optimistic, even at this level implies a weakening asset market and a growing and perhaps ultimately un-meetable bill for the government. Remember, the more money Ireland needs from the center, the less there is available to meet the growing needs of Greece and Spain.
Shortly after came news that the European Central Bank last week bought 338 billion euros of bonds, the most since early July. This follows closely on talk, unsubstantiated, last week among bond market participants that the ECB had bought up 60 billion euros of Irish bonds as investors lost confidence in Ireland and sold.

JEAN-CLAUDE TRICHET STARS IN "NO EXIT"
All of this put dovish comments by Axel Weber, Bundesbank President and a hawk's hawk, in perspective. Weber told Bloomberg Television on Friday that it was "wise" to extend unlimited lending to banks through the volatile end of year period, effectively moving the conversation about exiting some of its support of the market and of banks back to 2011.
That was not far from market consensus, but coming out of Weber's usually tough-talking mouth unexpectedly on a summer's Friday suggests that things in the banking system in Germany are not stable and will require continued support.
Spain too is a huge source of concern: as of June its banks have borrowed 126 billion euros from the ECB, up nearly half from May, money they need because many are shut out of interbank funding markets and have amassed huge portfolios of real estate which they hope will somehow rise rather than fall in value.
Surveys of purchasing managers released on Monday only underscored the divide between the robust center and the struggling edges; Germany and France are doing pretty well but there are no signs that austerity is bringing with it a rapid growth in competitiveness for the hindmost.
This is the problem: Europe cannot support its banks, honor all its debts, increase the competitiveness of the weak and hold on to a common currency all at the same time. This is not a problem that market confidence can solve, even if market confidence can be generated.
Like the United States, Europe has decided that the banks won't be allowed to fail and has reasoned outward from there, a debts over people, or taxpayers if you like, strategy.
Welcome back, policymakers, you have an interesting autumn ahead.
(Editing by James Dalgleish)
(At the time of publication James Saft did not own any direct investments in securities mentioned in this article. He may be an owner indirectly as an investor in a fund.)
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Analysis: Apparel sticker shock worries retailers - Magic

LAS VEGAS (Reuters) - Every day, the general manager of the Umgee USA apparel brand receives price quotes from Chinese vendors who stitch his trendy dresses and tops that end up at stores from Forever 21 to Macy's (M.N)
"Some of it is more expensive over there!" said Stan Park. "Every day I get an email from China saying 'This costs so and so.' It's just not worth it!"
Park and others have solved the problem of rising sourcing costs from China by making much of their product domestically in hubs like Los Angeles. But for larger brands that require the big volume that only China can supply, rising prices are a reality.
"Apparel prices are going to go up. It's as simple as that," said Perry Ellis (PERY.O) Chief Executive George Feldenkreis, who said a rise of up to 10 percent will be seen next year. "The American consumer will have to accept it."
That is hard to swallow for retailers big and small, who have been battling erratic sales trends this year amid high unemployment and lingering financial insecurity.
Finessing price strategies were top of mind this week for vendors and retailers at the Magic apparel trade show in Las Vegas, where buyers place orders for the newest styles.
"Because the economy hasn't quite gotten back on track, we can't raise our prices quite yet," said boutique owner April Bullock. "It's still a little scary for us -- we're not sure what the future holds."
Lower prices across the apparel spectrum have been one of the most visible effects of the financial downturn. Luxury department store Saks (SKS.N) now offers more mid-priced goods, while Aeropostale (ARO.N) has outperformed its peers in the teen sector due to its low prices.
Elan Savir of the Elan USA line said he has wanted to "make nicer stuff," but knows a more expensive price tag will turn off key customers like Nordstrom (JWN.N), which depend on him to fill a niche for fashionable yet inexpensive products.
"They're looking for stuff they can put in their stores for $49 and $59," Savir said, showing off a draped T-shirt that sells at wholesale for $12.50.
GLOBAL SOURCING SUFFERS
Companies' ability to wrest profits out of their global sourcing this year has suffered on multiple fronts, from a spike in cotton prices to higher labor costs and worker shortages, fewer ships available to transport containers across international waters and most recently, flooding in Pakistan.
Given these pricing pressures -- Park sees prices from China up 15 percent from last year -- brands are collaborating more closely with suppliers to reduce "sticker shock" for the consumer, retail-watchers said.
"It's heavy logistics planning. They know prices are going up so they need to take out costs in order to prevent that rise in prices," said Tony Ward, a principal with consultancy Kurt Salmon Associates.
Brands from giants like Nike Inc (NKE.N) to smaller names like Carole Hochman are working with fewer but larger and more reliable vendors. Some are eliminating middle men to boost margins, while others are trying to circumvent warehouses by trying to deliver direct to stores, Ward said.
Offering longer-term contracts in exchange for price reductions is one way to combat the inflation, said Peter Gabbe, chief operating officer of Carole Hochman, a sleepwear and intimate apparel company that licenses labels such as Ralph Lauren and Jockey.
Some expect smaller suppliers to be eliminated as brands consolidate their vendors. "The next three months will be very bad for people with no clout," said Feldenkreis.
Eric Beder, an analyst with Brean, Murray Carret, explained how Aeropostale's strategy of dealing with five main vendors has been crucial in keeping prices low.
"You really are partners in that situation," Beder said. "You can't walk away. They'll find some accommodation to keep prices in check."
Localization, a strategy that has proved successful this year for department store Macy's, is another way to make it easier for vendors to fulfill orders. With smaller orders deployed to specific stores based on geography and need, sales can improve while inventory risk is lower, and less cash is needed up front.
"That takes tremendous pressure off the sourcing people to have to make it right from the first," said Ward.
DISGUISED RISE
One consolation for retailers is that many consumers may not even notice an increase in prices.
"The myth people have is that consumers won't accept it," said Beder. "But because of trends, it's very easy to mask price increases. It's not like milk where you buy it every day."
That means that last season's top with a new twist may look different enough to justify a few more dollars in price.
Warnaco Group (WRC.N) Chief Executive Joe Gromek told analysts recently the company was "realistic about the consumer and their willingness to pay more at this point in time."
"So we're just not going to raise prices across the board," he said. "But where we think that we have somehow done things to create added value, then we will make the necessary moves."
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Warehouse 13 role no stretch for Saul Rubinek - Magic

LOS ANGELES (Back Stage) - Canadian actor Saul Rubinek may have theater in his blood, but he is no stranger to the demands of sci-fi TV shows.
He can currently be seen on the Syfy cable channel in "Warehouse 13," where he plays Dr. Arthur "Artie" Nelson, the mysterious yet methodical Secret Service agent. The show, now in its second season, evokes "The X-Files" with a touch of humor.
Rubinek, 62, says much of the acting is "shmacting. Acting-shmacting ... There should be a class called Schmacting 101."
But don't be deceived by his seemingly dismissive tone. Like so many of the show's fans, he marvels at its many elements -- from fantasy adventure to comedy with no shortage of wonderful villains. Rubinek talks about how it appeals to women and families without losing its male base. He comments on how rare it is in an actor's career to be in a program that is well-written, well-acted, and wildly popular -- not only in the States but globally. It is now being telecast in 50 countries, he says.
The actors' challenge is to maintain a light touch and at the same time be truthful. "It's walking a tightrope," he remarks. "If we fall off the tightrope, it would no longer be interesting. The stakes have to be high. We can't take ourselves too seriously, but we have to take seriously the characters' situations."
Rubinek's sci-fi credits also include "Star Trek: The Next Generation," "Stargate SG-1," and "The Outer Limits," among others. Paradoxically, he has little interest in special effects: "I think there is magic onscreen when two people have great dialogue in a great story with humor and depth."
Which possibly explains why he was suited to guest-starring roles on shows like "Frasier" and "Curb Your Enthusiasm."
For the first 20 years of his career, theater was his home base. He was 27 years old before he performed in front of a camera. To this day he believes any good stage actor can do film, though the reverse is not necessarily true.

� Continued...
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Young Frankenstein revived on L.A. stage - Magic

LOS ANGELES (Hollywood Reporter) - In a classic case of life imitating fiction, Mel Brooks' out-of-control updating of his iconic film comedy "Young Frankenstein" at the Pantages Theater embraces whole new generations of theatergoers with nonstop energy and unrestrained effort.
Appropriately, the method Brooks and co-writer Thomas Meehan have used in creating this justly celebrated new musical is remarkably similar to the method Dr. Frankenstein used in creating the monster: Take bleeding chunks of bodies and shtick from wherever they can be dragged in.
Using a repertoire of shtick and smirk that ranges from historical character actors like Fritz Feld to ones entirely of his own creation, Roger Bart's Dr. Frankenstein does the heavy lifting at first in a succession of routines that gets the audience going. But eventually, Bart fades away as his energy subsides and even his "frohnkensteen" obsession gets lost in the shuffle.
Cory English's Igor leaves the audience begging for more with his galumphing antics and movable hump, and Joanna Glushak nearly steals the show with her inane antics and eerily Cher-like look as the gruesome, violin-playing Frau Blucher. Shuler Hensley does the Monster perfectly, from soup to nuts. Although Beth Curry does her manic best to bring back at least some of the magic of the film's Madeline Kahn, Anne Horak's Inga, despite her heroic yodeling and fetching wholesomeness, is no substitute for Teri Garr. In the secondary roles, Kevin Ligon as grandfather Victor Frankenstein and Brad Oscar as the blind hermit create instant classics.
Director Susan Stroman has managed to capture everything Brooks and Meehan poured into their book with a production that scampers relentlessly and breathlessly for the whole night. Her choreography for a well-trained dance troupe, featuring a gaggle of tall leggy blondes, gives the kind of high-art legitimacy to the evening that Brooks so often longs for.
Musically, Brooks' serviceable score is nothing to write home about aside from Irving Berlin's "Putting on the Ritz," which triggers a sequence of showstopping numbers that includes a shadow dance that Fred Astaire only could have dreamed about. And though it's a treat to see Igor handling the French horn as if it were a cheerleader's baton, cutting out the glorious call that ends the movie is profound loss.
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