Auto Transport, Why Is My Gas So Cheap?

In May 2008, Goldman Sachs analyst Arjun Murti projected that oil would climb from its then record cost of $129.60/barrel to $200/barrel. The New York Times had Murti predicting that American drivers would soon be facing $6 per gallon gasoline.

Clearly, that didn’t happen. Gas is selling for a national average of about $2.80 right now, according to AAA. And since gas prices peaked at $4.11 per gallon in July 2008, there hasn’t been much more talk of hundred-dollar fill-ups. Which begs the question, why?

The Basics

Contrary to the view of many Americans, the business of oil is not an American business. As large as ExxonMobil, ConocoPhillips and other American oil companies are, Big Oil is a global business. Because of the size and international scope, neither U.S. companies (nor the U.S. government) controls the world’s oil supply. Not by a long shot.

For example, Saudi Aramco is the world’s largest oil company when measured by reserves. Other major players include the nationalized oil companies from Iran, China, Venezuela, Iraq, Mexico and other oil producing countries. Russian oil giant OAO Gazprom is one of the world’s largest and most profitable oil producers with 2008 profits of $26.7 billion.

Additionally, it’s critical to understand that oil flows fairly freely once it’s pumped out of the ground, to whomever is willing to pay the most for it. This includes governments, wholesalers, and end-users. Even communist countries play by free-market rules when it comes to oil. So the economics of supply and demand succinctly account for how fuel prices track, much better than your uncle’s favorite conspiracy theory.

Slow Economy, Soft Demand, Lower Prices

To find out why Murti and other analysts were wrong when they predicted today’s fuel prices, we contacted an independent oil analyst, Patrick DeHann. DeHann is the senior petroleum analyst for GasBuddy.com, an organization that tracks gasoline prices across North America. Providing services through a network of 225 websites to tens of thousands of independent gasoline retailers, DeHann is most definitely not the spokesperson of Big Oil.

Pointing out that the free market largely sets the price, DeHann said that gas prices haven’t gone up because the economy has been so bad. And demand is still soft, which is why prices haven’t varied much all summer.

“As soon as the banks collapsed in late 2008, the economy slowed. Demand for gas dropped and with it, the price,” he said. “A price today of $5 or $6 per gallon wouldn’t be feasible,” he said. “The market wouldn’t support it.”

Adding details to DeHann’s explanation is John Felmy, the American Petroleum Institute Chief Economist. Felmy represents Big Oil, the same Big Oil that makes sure your corner gas station has fuel to sell you literally 24 hours a day.

“The worldwide economy was still relatively robust in July 2008,” he said. “Demand was high, especially from China. They were gearing up for the Olympics, had shut down their coal plants (to reduce air pollution) and were using (cleaner burning) oil for power.”

Heavy demand with a tight supply caused an increased price for crude oil. The worldwide price of oil shot up to $147/barrel in July of 2008.Then the financial crisis hit. Demand dropped by several million barrels per day. The barrel price plummeted to $33.

“I look at the situation as purely a function of supply and demand,” said Felmy.

Supporting this, DeHann pointed out that toward the end of 2008, American refineries (of which there are approximately 140) were operating at barely 80-percent. During the stronger economic years of 2005-2007, refineries ran at rates of up to 98-percent capacity.

While the economy has recovered some, worldwide demand isn’t strong enough to push average gasoline prices in the US past about $2.90 at present.

Calculating The Cost At The Pump

To figure out how much gasoline should cost, Felmy said you should take into account three big categories of variables:

• Cost of crude oil
• Taxes, both federal and state
• Refining, transportation, storage, marketing, and profit

Breaking things down, Felmy noted that a barrel of oil can yield 42 gallons of fuel. His equation divides the cost per barrel, which today is about $81, by 42 to get a rough cost per gallon. He then adds $0.47 (the average of federal and state taxes). Felmy then subtracts that total from the cost of regular gas at the pump. The remaining figure, presently around $0.30, includes the cost of refining, transporting the fuel to and from refineries, marketing costs, and profit.

This addresses the basic question of why gas costs less now than it did in the summer of 2008; the cost for a barrel of oil is $59/barrel less, a $1.40 per gallon reduction.

What’s Coming?

GasBuddy.com’s DeHann doesn’t see gas prices moving too much in the near term. He said, “We see the national average for retail gasoline staying around $2.80 until the economy gets stronger.”

All bets are off, however, if there is a major catastrophe or geo-political upheaval.

More Questions

Since we first published  ” Why Does Gas Cost So Much”, we’ve received plenty of comments from readers. Here are some answers to a few of the most common questions.

Q: Why do prices fluctuate overnight at gas stations?
A: About 95 percent of the 170,000 gas stations in the U.S. are independent small businesses. It’s likely, then, that your corner gas station is not owned by the company whose fuel they sell. DeHann characterized station owners as little guys fighting to stay in a business that has become exponentially more competitive over the last 20 years.

“These are businesses that struggle for cash flow on a product where there’s very little margin,” said DeHann.

He noted that many factors impact local retail fuel prices, including;
• Current fuel costs
• Desired sales volumes
• The local competitive environment
• Regional supply issues
• Expected future fuel costs
• Concern over national supply issues

A tanker of fuel to replenish a station’s supply can cost $40,000. To make sure they can afford the next tanker delivery, station owners constantly adjust prices to maximize their profit on the gas they’ve already purchased. Unlike many other businesses, gasoline is not a “cost-plus” business. The profit margin is constantly being adjusted, hence the price fluctuations.

DeHann explained that if an owner thinks his next tanker might be more expensive because of some reason outside of his control (for instance, oil pipeline failures that have caused havoc in Michigan and Illinois) they will raise prices on gasoline that is already in their tanks.

“Prices are more volatile than they used to be because of all the new trading instruments,” said DeHann. He explained that when traders gain knowledge of potential supply issues, this can send price ripples quickly through the system. However, unless the supply problems actually happen, prices settle back down almost as quickly.

Q: Do U.S. currency fluctuations impact fuel prices?
A: There is not a simple, one-size-fits-all answer to this question. An important fact is that oil is denominated (meaning priced and traded) in U.S. dollars. Therefore, when the value of the U.S. dollar drops, those buyers who purchase oil using currencies that have gained strength against the dollar get a better deal. This can increase demand, driving prices up.

Q: Does the US government control fuel prices?
A: At different times in U.S. history, the government has controlled the price of oil and natural gas. President Nixon’s administration was the last to forcibly control the market, resulting in gas shortages. The Reagan administration removed the last remaining price controls in 1981. Outside of the impact of EPA and OHSA regulations, the government doesn’t control fuel prices except in times of disaster.

EPA regulations, though, do impact prices. The price hike that comes every year around Memorial Day is directly linked to the dozens of EPA-directed fuel blends that are required to reduce evaporative emissions. The additives used in so-called summer blend gasolines cost more than those used the rest of the year. Refiners can switch back to lower-cost fuel on September 15.

Q: Why Is Big Oil So Greedy?
A: There’s no doubt that there’s big money in oil. The majority of the world’s most profitable publicly traded companies deal in oil and natural gas. While it’s easy to think that, for instance, ExxonMobil’s 2009 profits of $19.3 billion are obscene, like most headlines, there’s more to the story.

Economics 101 teaches that there are several ways to look at profits. Most headlines reveal profits are in simple, huge numbers. According to Joseph Trocchio, a financial advisor with Raymond James Financial Services from St. Clair Shores, Michigan, “Another measure is to state profitability as a percentage, showing a company’s profit from each dollar of revenue.” Trocchio referenced net profit margins of different companies to illustrate the concept. Compared to ExxonMobil’s 10.2-percent five-year average net profit margin, Google rakes in 24.7 percent and Apple Computer commands 15 percent. In 2009, ExxonMobil’s gross sales were $301.5 billion compared to Google’s $23.65 billion and Apple’s $42.9 billion.

The API’s Felmy added, “Because of the soft economy, in the second quarter of 2010, oil company net profits were just 6.4 percent based on revenue.”

Raymond Jame’s Trocchio confirmed that this profit level is below the average for the Standard & Poor’s 500, which currently averages a net profit around 7 percent.[VIA translogic.aolautos.com]

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Ultra-light vehicles crunched in crash tests

nev_crash_test.top.jpgChrysler Group’s Gem car takes a side impact from a Smart ForTwo (right) and a Tiger Star mintruck after a front impact with a Ford Ranger.

– Those tiny electric cars you sometimes see on the road may be cheap, they aren’t very safe, new crash tests show.

Low Speed Vehicles, electric cars similar to golf carts, don’t fare well in even relatively low-speed crashes with passenger cars, according to tests carried out by the privately funded Insurance Institute for Highway Safety.

The Institute also crash-tested a popular minitruck, a type of very small truck intended primarily for driving around work sites, with similar results.

Vehicles like these aren’t required to have the same safety equipment as passenger cars. For instance, while seatbelts are required, LSVs don’t have to have airbags. Doors are optional and, when installed, are more for protection from wind and weather than vehicle impacts.

LSVs can’t go faster than 25 miles per hour, under National Highway Traffic Safety Administration. But most states allow them to drive on public roads with speeds limits of up to 35 mph. At those speeds, regular passenger cars and trucks present a grave danger to occupants of LSVs and minitrucks, the Institute said.

“On the one hand, you have NHTSA saying these vehicles were meant for low-risk, controlled environments, or farm use, and on the other hand states are pushing them out onto highways,” said David Zuby, the Institute’s chief research officer, in a statement.

“LSVs weren’t designed to protect people in a crash with a microcar like the Smart ForTwo, let alone larger cars, SUVs and pick-ups in everyday traffic,” Zuby said.

The Institute performed side impact crash tests using an electric LSV made by a subsidiary of the Chrysler Group called a Gem Car. The cars were subjected to a 31 mph side hits from a standard side crash impact test barrier as well as from a Smart ForTwo ultra-compact car.

In both tests, instruments on the crash test dummy suggested what would have been “severe or fatal injury to a real person.” The Smart ForTwo’s airbags and steel body protected its crash test dummy from serious trouble, the Institute said.

“Gem vehicles offer customers an inexpensive, clean solution for low speed environments and comply with the National Highway Traffic Safety Administration standards for low speed vehicles which limit the maximum speed of the vehicle to 25 miles per hour,” Chrysler said in a statement.

The Institute also tested a 2008 Tiger Star minitruck in a front-end collision with a 2010 Ford Ranger. In the test, the Tiger Star was traveling at 25 mph and the Ranger at 35 mph.

In the crash test, the head of the test dummy in the Tiger Star hit the steering wheel and its left leg and right foot were trapped by the clutch pedal as the cab crushed in.

A Tiger Truck spokesman did not immediately return a request for comment on the crash test results.

As of 2008, there were an estimated 45,000 LSVs on America’s roads, the Insurance Institute said. Both state and federal governments offer tax incentives for the purchase of LSVs. [VIA CNNMoney.com]

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The new fear: Electric car ‘range anxiety’

Chase Ballew had miscalculated a little bit. He was bringing home some furniture from Ikea in his electric-powered truck, and there wasn’t enough charge to get him all the way to the house.

About a mile from his Portland, Oregon, home he decided to pull into the parking lot of an auto parts store to see if it would let him borrow an outlet. He reasoned that the store would have no problem with him recharging, hoping he’d come back in the future. So he charged for a few minutes, getting enough juice to make it the rest of the way.

That, said Ballew, was the only time in his 18 months as a Zap Xebra owner that he was ever close to being stranded.

“I think the added weight cost me a little bit in range,” Ballew said by phone recently. “I probably could have kept going, but I was worried I would damage the batteries.”

Most of Ballew’s trips are short, and this was only one of a few times he has dealt with “range anxiety,” a new phrase popular with electric car drivers and potential buyers.

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Electric vehicles generally get between 25 to 100 miles on a full “tank” whereas a gas-powered car can go 300 miles or more. And gas stations are everywhere; there are more than 160,000 in the country. There are only a few hundred working electric charging stations. In Portland there are less than 30, Ballew said.

To prevent range anxiety, Ballew said he often will plan trips based on where he can charge the car. For instance, there are two nearby grocery stores. He goes to the one with the eight charging stations and powers up for free while shopping. But still he must keep his trips short.

The good news is the city of Portland is on a mission to install the infrastructure to support the next coming of the mass-produced electric car. Within the next year, Portland will install 500 public-use charging stations, with surrounding communities also putting in similar numbers.

The money comes in part from the U.S. Department of Energy, which has allocated $400 million to electric vehicle infrastructure. Several companies are working with cities to put in charging stations in the next year — about 12,000 of them. Most of them are going in Western state cities where power is primarily from renewable resources and cheaper than other areas. For instance, in Oregon, 69 percent of electricity is generated by hydropower.

Portland Mayor Sam Adams said his city has learned from its experience with building one of the biggest bike networks in the country.

“We built a system that made people comfortable with going from Point A to Point B,” he said, adding that bike ridership has doubled in the past 15 years. “The thing we know having introduced large-scale strategic changes in our transportation system here … is you do your homework upfront, you figure out what it is, in this case that will address people’s range anxiety, and then you watch it very, very closely in the first six to 12 months, and you make the necessary changes.”

Therein lies the question or questions: How many charging stations do you need? For how many electric cars? Do you put in thousands of public charging points, and then watch as just a few cars use them? Will people even buy electric cars if they don’t see places to get power around town?

At your house, plugging the car in overnight is not an issue. When you are out running errands during the day, it can become a concern, as Ballew found out when he headed home from Ikea that day.

Early buyers of electric vehicles are more likely to put up with the inconvenience of locating public charging, but large-scale sales will depend on the public’s comfort with always being able to get fuel.

“The charge infrastructure is going to be something that people adapt to,” said Ted Bohn, an electrical engineer at the Argonne National Laboratory near Chicago, Illinois. “It’s like you get used to charging your cell phone battery or your laptop battery, you know when you need to plug in.”

Bohn added, “The key is whether you have time.”

He said it makes sense to put chargers in where people will spend a lot of time — offices, coffee shops, shopping centers, movie theaters. On the street, charging will be a different story, similar to hunting for a public bathroom. It depends on how badly you need it.

Home chargers should be able to fill a car’s batteries in a few hours. A fast charger outside a grocery store might be able to do the job in 30 minutes. But if all you can find is a 110-volt outlet, getting anything more than a few miles’ worth of power will take more than half a day.

“If the public infrastructure is out there, it makes people feel more comfortable, particularly the people who aren’t very familiar with electric cars,” said Paul Scott, vice president of Plug In America, a coalition of electric car advocates and drivers. Scott lives in California and has driven an electric car for eight years. He said he trades with hybrid-owning friends when he goes on a long trip.

The long-trip predicament is one of the reasons Chevrolet chose to make an extended-range electric vehicle. The Volt can go 40 miles on a single charge (about a average day’s miles for the typical American), and it also has a gas-powered generator that gives it the ability to drive 300 more miles, Chevrolet says.

Volt drivers will still use charging stations, but it’ll be a convenience (electricity costs less per mile) more than a necessity.

“That said, we feel there is going to be an awful lot of organic growth in public places,” said Britta Gross, General Motors’ director of global energy systems and infrastructure commercialization. “[Consumer demand] for public charging is the right way to do it because then it says you are going to do it in just the right spots [where people show they want to charge].”

Chevy’s Volt: When the juice runs out

Determining the right spots is falling into the hands of companies that have tapped into the Department of Energy millions. One of those is ECOtality, which manages the EV Project, an initiative to get the electric car movement reborn.

Jonathan Read, chief executive officer of ECOtality, said that besides helping local governments, utilities and consumer groups set up charging networks, the primary goals are charging station projects that connect cities such as one planned for Interstate 5 along the West Coast.

“The objective is to show what’s necessary to build these major corridors,” he said. “What we’re doing is rolling out the largest infrastructure program for electric cars in history, but we’re also doing is, under the auspices of the DOE program, is we’re collecting data — where people charge, how often they charge, so that we can have hard data to share with other communities of what the consumer is looking for and what we need to do as an industry.”

Nissan, makers of the Leaf, which is scheduled to hit the roads in a few months, said the data collected from the initial rollout will be hugely beneficial to other parts of the country that will be a part of the second phase.

“Of course we’re not going to be 100 percent perfect with every decision, every location,” said Mark Perry, director of product planning at Nissan. “So the deliverable is how do people use it? What is the impact on the grid? What kind of support did drivers need? All that information will be important.”

A closer look at Nissan’s Leaf

Lessons learned from the rollout of charging stations to support the General Motors EV1 more than a decade ago are helpful but “somewhat irrelevant,” he said because the new charging stations are much more sophisticated as are the electronics in the car.

One of the people working on Ford’s electric vehicles said it is vital not to repeat earlier mistakes of putting recharging spots where they weren’t needed.

“Some of the most premium parking spaces were used for EV charging, and there weren’t the vehicles to support them, and you can imagine what the impact was for non-EV drives,” said Mike Tinskey, manager of global electrification at Ford Motor Co. “The answer is not only putting them in the right spot but at the right time.”

Another issue was the technology.

Mike McQuary, chief executive of Wheego electric vehicles in Atlanta, Georgia, said those charge points were built to varying standards and that one of the huge “breakthroughs” recently was an agreement reached between car companies and makers of recharging stations over international equipment standards.

“There’s going to be one type of socket and one type of plug,” McQuary said. “Before that I thought we were going to see a Beta vs. VHS sort of thing.”

The standard was the last big hurdle before the new electric vehicles hit the road, he said.

General Electric is probably the biggest player now getting involved in the manufacture of charging stations. TV ads for its WattStation are already running during network primetime.

“When someone as large as GE comes into the space, you know they have done their research and they see a very big future,” said Perry of Nissan, which is partnering with a company called AeroVironment for home charging stations.

While the general public may still look at the electric car as a novelty, its advocates see the coming wave of new models and stations as a big step toward eliminating this country’s use of oil, especially foreign oil, and helping the planet. Stopping to get a charge away from home is a small price to pay, said Scott, the Plug In America vice president.

“If you care about the environment, if it bothers you that you are polluting everybody’s air, if it bothers you that you are sending lots of money out of the country,” he said, “then it’s worth it to you to spend 20 minutes” recharging.[VIA edition.cnn.com]

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GM experimenting

chevy_cruze_electric.top.jpgThe experimental Chevrolet Cruze EV is similar to the Chevrolet Volt, but with longer battery range and without a gasoline engine. General Motors is building an experimental fleet of electrically powered Chevrolet Cruze compact cars that will have a driving range of up to 100 miles without using any gasoline. Unlike the Chevrolet Volt, which GM plans to sell in the United States beginning in November, these cars will be purely electric with no gasoline engine for long-range driving. The Cruze and the Volt are closely related vehicles. “This Cruze EV demonstration project reinforces GM’s commitment to being a leader in the development of electric vehicles and green technologies, building on our portfolio of hybrids and the Chevrolet Volt,” Karl Stracke, GM’s vice president for global vehicle engineering, said in a statement. The initial demonstration cars are being built by GM Daewoo, GM’s South Korean arm, in cooperation with LG Chem, the company that supplies battery packs for the Chevrolet Volt. The first cars will be tested in South Korea beginning in late October, GM said in a statement. Similar vehicles will built and tested with other partners in other parts of the world later this year.

Range-extended vs. gasoline-free

Once charged, the Chevrolet Volt, a version of the Cruze that GM calls a “range-extended electric vehicle,” can drive up to 40 miles on electric power before a gasoline engine turns on to generate electricity for over 300 miles of driving driving. Other automakers, including Nissan and Ford, will compete against the Volt with electric cars that can drive as much 100 miles before recharging but which have no gasoline engines. Those cars must be plugged in and recharged before they can drive farther. GM’s experimental electric Cruzes will be functionally similar to these cars. GM has touted the Volt’s “range-extended” system as superior because it offers enough gasoline-free electric driving range to cover most Americans’ daily needs — the vast majority drive less than 40 miles on a typical day — while providing the long range of a gasoline-powered car when needed. However, critics have called the Volt a less environmentally sensitive solution because it still has a gasoline engine. “We had expected GM to launch an all-electric vehicle by 2012 or 2013,” said Michael Omotoso, manager of global powertrain forecasting for the market research firm J.D. Power and Associates.’ GM could use an all-electric Volt for two reasons, said Jesse Toprak, an analyst with the automotive Web site Truecar.com. First, as technology improves, pure electric cars will have longer driving ranges and shorter charging times, making them more viable as daily transportation. When that happens, said Toprak, GM will want to have a fully developed product ready to sell. Second, even though the Volt can be driven using electricity alone for days or weeks at a time with a daily recharge, there’s great public relations value in an electric-only car, Toprak said – even if it’s less practical. “The reality is it’s more difficult to explain the extended-range concept,” he said. The Volt is often misunderstood by consumers and the media, Omotoso said, who think of it as a plug-in hybrid. With virtually every other major automaker planning an all-electric car, GM faced the possibility that it might be perceived as less “green” than other automakers. On a standard 220-volt household outlet GM’s experimental electric cars can be fully recharged in about 8 to 10 hours, GM said in an announcement. The cars can go from zero to 60 miles in about 8.2 seconds, GM said, which makes them quicker than the Chevrolet Volt. GM engineers have, in the past, hinted at the possibility of an electric-only Volt saying that it would be a relatively easy matter to remove the gasoline engine and add more battery power.[Via money.CNN.com]

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The Fed’s ‘tax on the consumer’, Managementprosconsulting

Investors have been cheering about the prospect of the Federal Reserve pumping more money into the economy, but some experts warn that move may wind up hurting consumers’ wallets.

Ever since Fed Chairman Ben Bernanke pledged in late August that the central bank would take unconventional measures to keep the economy afloat, the S&P 500 (SPX) has climbed more than 11%.

Those ‘unconventional measures’ would likely be another round of asset purchases, known as quantitative easing, or QE2 for short. The move is designed to boost the economy and lower interest rates. But it would also add further pressure on an already weak U.S. dollar.

Since Bernanke’s comments in August, the dollar index has dropped 7%, while commodities — which are priced in dollars — have surged. Crude oil has jumped 14%, while gold has spiked 8%. Prices for cotton, corn, sugar, wheat and coffee also have all hit new highs during the past two months.

Ultimately, those lofty prices will trickle down to consumers in the form of higher prices for coffee, bread, pizza, gas, clothing and more.

“The problem I have with QE2, is it behaves like a tax on the consumer,” said David Giroux, a fund manager at T. Rowe Price. “People want to believe it’s a free lunch for the economy, but it’s definitely not. Next year, we’re going to be paying more at the gas pump and the grocery store.”

American households already spend $340 billion a year on gasoline, according to U.S. economist Paul Dales of Capital Economics. Since late August, the price of a gallon of gas has jumped 4.8%.

All it would take is another 10% increase, and the average cost per gallon would rise above $3, adding $51 billion a year to your household tab, he said. Even a modest 5% rise in food prices would force a family to add about $350 a year to their grocery budget.

High debt trumps lower rates

The yield on the benchmark 10-year Treasury note had been recently pushed as low as 2.33% amid rising speculation about QE2. The yield, used to set rates for mortgages and other loans, has since drifted back above 2.5%. But it’s still sharply below the nearly 4% level it was sitting at in April.

Lower long-term interest rates should encourage consumers and businesses to spend more. That, in turn, should lead to more jobs, better housing prices and an overall economic revival.

However, a second round of asset-purchases may not make much of a splash.

Parsing the arguments new stimulus

“Banks will have a lot more money to lend, and lower rates will make it easier for people to borrow,” said Mike Schenk, vice president of economics and statistics for the Credit Union National Association. “But the problem is that that people are still up to their eyeballs in debt and are in the process of paying it down, so it’s unclear how much more they’ll be willing to borrow.”

Plus, mortgage rates are already near record lows, yet the weakness in the housing market continues to linger.

And while looser conditions will make it easier for businesses to raise capital, companies are already flush with cash. They’re still not hiring.

“U.S. businesses lack customers, and even zero interest rates won’t inspire GE to build factories and add workers if light bulb sales are stagnant,” said Peter Morici, a professor at the Smith School of Business at the University of Maryland.

“Without more jobs, prospective homebuyers are too nervous to quit renting or purchase bigger homes,” added Morici, a former chief economist at the U.S. International Trade Commission. (CNNMoney.com)

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We bring our expertize directly to your office and work within your current culture. Our clients roster is impressive, and our record of success is unsurpassed.

We’d like to welcome you to Management Pros Consulting, Inc. Our experts look forward to guiding you toward a prosperous future.

Management Pros Consulting

Whether you operate a well-established business or a completely new start-up,you need superior guidance and specialized services to maximize the financial health of your company.

Contact Us

Management Pros Consulting, Inc
84 Agawam Drive
Wayne, New Jersey 07470

Tel: 973-692-9555
Fax: 973-692-0505
Cell: 973-271-2947
E-mail: mricciardi@managementprosconsulting.com

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Quincy city:

Just minutes south of Boston awaits one of New England’s most captivating destinations, the City of Quincy (“quin-zee”). Called the “City of Presidents” and “Birthplace of the American Dream”, Quincy is the birthplace of the second and sixth U.S. Presidents, John Adams and his son, John Quincy Adams. Rich in historic treasures, Quincy’s impressive past remains
vibrant today as the city lays claim to an exciting future.

Fascinating historic sites abound, while miles of coastline capture the imagination with their enchanting beauty. Culture and commerce blend to create an impressive array of things to see and do year round.

Be sure to visit the Adams National Historical Park, commemorating the distinguished men and women of the Adams family who dedicated their lives to the founding and strengthening of the United States. The thirteen acre park includes the home of this remarkable family; the farmhouse where both presidents were born, recognized as the oldest presidential birthplace in the country; the Visitor Center; and the United First Parish Church and Adams Crypt. Visit the Adams national Historical Park
web site.

Other prominent attractions that you won’t want to miss include: the Hancock Cemetery, the colonial community’s first and main burial ground; the Thomas Crane Public Library, a national architectural landmark; the Adams Academy Society; the birthplace of John Hancock; the Dorothy Quincy Homestead; and the Josiah Quincy House, site of many Sons of Liberty meetings.(quincyma.gov)

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Conference

9 – 10 noiembrie 2010
Crystal Palace Conference,
& Ballroom, Bucharest

ro:newmedia starts the 5th edition. The most important event dedicated to the digital industry in Romania is now more spectacular than ever. During the 2 days event, you can attend conferences and workshops powered by the undisputed leaders of the Internet.

Conference – 9 November

9 – 9:30 Conference Check-In & Information
9:30 – 10:30 Introduction to RoNewMedia 5.0: Warm-up debate: special guests, keynote speakers, major industry playes from Romania
10:30 – 11:00 Coffee break
11:00 – 11:30 Special Presentation: Mark Cowan, Facebook
11:30 – 11:45 Q&A
11:45 – 12:15 Keynote Presentation: Colin Kinsella – Digitas North America
12:15- 12:45 Special Presentation: New media as a challenge on 4 screens by Patrice Slupowski, VP Digital Innovation & Communities in the Audience and Advertising Division of the Orange – France Telecom group
12:45 – 13:00 Q&A
13:00 – 14:00 Lunch break
14:00 – 14:30 Keynote Presentation: Marvin Liao, Yahoo
14:30 – 15:00 Special Presentation: Hugo Barra, Google
15:00 – 15:15 Q&A
15:15 – 15:45 Keynote Presentation: Timothy Bataillie, Netlog
15:45 – 16:15 Special Presentation: John Hrvatin, Microsoft
16:00 – 16:30 Q&A
16:30 – 17:00 Coffee break
17:00 – 17:30 Keynote Presentation: Laurent Haug – Founder Lift Conferences
17:30 – 18:00 Special Presentation: Ebbe Altberg, YAHOO!
18:15 – 18:30 Q&A
18:30 – 19:00 Keynote Presentation: Kim Weckstrom, Avaus Consulting
19:30 – late YAHOO! PARTY!!!!!!