<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Tesla likes to wow people with its vehicles. Think supercar-beating "Ludicrous Mode" acceleration in the Model S sedan, exotic "falcon wing" doors on the Model X, or Autopilot self-driving technology.</p><p>Those who are wowed sometimes forget that Tesla is essentially a luxury carmaker selling its vehicles for around $100,000. </p><p>That's all about to change with the arrival of the $35,000 Model 3 - a mass-market car designed to delivering widespread electrified mobility at a very affordable price.</p><p>It will be a different kind of Tesla.</p><p>RBC Capital analysts Joseph Spak focused on this aspect of the vehicle in a research note published Friday:</p><p>Teslas have an aura of futurism around them that can cause people to expect more than they're getting from the cars, which are after all still automobiles, just ones that are powered by batteries and electric motors. Critically for the Model 3, which will sell for far less than either the S or the X, Tesla has to be able to mass-produce the vehicle without losing a ton of money on every car. </p><p>We really are talking about the Toyota of Teslas here, and although the Model 3, due to launch later this year, should be quite snazzy, it will also be the Tesla for the rest of us.</p><p>As customers realize this, they'll either recalibrate their expectations - or suffer disappointment.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/tesla-elon-musk-solves-twitter-supercharger-complaint-6-days-2017-1">Elon Musk came up with an ingenious solution to a Tesla owner's Twitter complaint in just 6 days</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Bia2l0ODE60YUqN44tosbq-1x54bqACE" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

People are expecting too much from the Tesla Model 3

<br />Increasing female literacy (including financial literacy), growing economic pressures (cost of living per family), and the desire for economic and social independence are pushing womenfolk to earn and secure their earnings by being part of the formal <keyword id="6354778" type="ORGANIZATION" weightage="20" keywordseo="Banking">banking</keyword> system. <br /><br />Over the last few years, there has been a significant increase in the number of <keyword id="624" type="ORGANIZATION" weightage="20" keywordseo="Women">women</keyword> utilizing banking services. According to FII data, after PMJDY, the rate of <keyword id="107911" type="ORGANIZATION" weightage="20" keywordseo="Financial-inclusion">financial inclusion</keyword> for Indian women increased by 24% between 2014 and 2015. <div type="embedgroup"> <div type="Article" hostid="261" msid="58150126" title="51% of Online Shoppers Use Two or More Devices Online in India" rank="1.0" kind="RELATED" publishDate="Apr 12, 2017, 8:00 PM" mstype="2" mssubtype="0"></div></div>






<br />The percentage of adult women who are active bank account holders has gone up to 35% in 2016 compared to 18% in 2013. Also according to Intermedia, a global consultancy, as many as 358 million Indian women (61%) have bank accounts, up from 281 million (48%) in 2014, the biggest jump for “banked” women among eight South Asian and African countries. <br /><br />

    

    <div type="embedgroup"> <div type="Article" hostid="261" msid="58132345" title="Exclusive: Here’s what Google VP Rajan Anandan said about Jio’s Impact on the Telecom Sector" rank="1.0" kind="RELATED" publishDate="Apr 11, 2017, 8:55 PM" mstype="2" mssubtype="0"></div></div>




<br />Technology, also has played a significant role in bringing about this change by solving the problem of accessibility. Today, banking services are available online, and facilitate everything from opening a savings account to getting a loan over the mobile phone. Moreover, many financial institutions and service providers share educational content related to their services online.<br /><br />These trends are reflected in the way <keyword id="1865968" type="COMPANY" weightage="100" keywordseo="BankBazaar">BankBazaar</keyword> has seen an appreciable increase in the number of women visiting and transacting on the website in the last two years. Between FY 2014-15 and FY2015-16, there has been a 126% increase in the overall unique visitors (female). <br /><br />

    

    

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<br />The highest percentage increase has been in the category of car loans, which saw a 34% rise in unique visitors (female). If you read this along with the fact that the number of women purchasing their own cars have doubled from 6% to 12% in the last five years, it is evident that women are no longer just influencers when it comes to buying automobiles.<br /><br />More and more women are also resorting to personal loans to fund their expenses – whether personal or business – instead of depending on other family members to help out. The site has seen a 32% rise in unique visitors (female) looking for personal loans between FY 2014-15 and FY2015-16. This increase is seen even in very high-value purchases such as realty. With increase in the number of women employed in high-income and stable jobs, and more couples realizing the tax benefits of taking a joint loan, more women are looking to fund their own homes through a home loan.<br /><br /><em>(Image credits: ICICI Bank)</em>

BankBazaar data shows 126% increase in financial decisions online by women

It is hard to believe that your personal data, be it your residential address, your phone number, email id, details of what you bought online, age, marital status, income and profession is all up for sale but that’s not it. Most of this is sold for less thasn a rupee.<br />
<br />
ET reported that the data is sod anywhere between Rs 10,000 and Rs 15,000 for the personal data of up to 1 lakh people in <a href="http://www.businessinsider.in/searchresult.cms?query=Bengaluru&amp;sortorder=effectivedate">Bengaluru</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Hyderabad&amp;sortorder=effectivedate">Hyderabad</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Delhi&amp;sortorder=effectivedate">Delhi</a>.<br />
<br />
The lists up for sale are creative and granular. One data broker said he could get lists of high net worth individuals, salaried people, credit card holders, car owners and retired women in any given vicinity.<br />
<br /> Some brokers sent free samples: excel sheets with personal data of people in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>, split by address and income profiles. “It’s scary to say the least,” said Hyderabad-based Rajashekar, whose data like name, address and credit card ownership was procured from a Gurgaon-based data broker who sold ET a sample database of nearly 3,000 people with <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword> and <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> credit cards.<br />
<br />
The database had details like name, address, phone number and the classification of the card (debit, credit or a premium card). The broker also said that a database of 1.7 lakh people from <a href="http://www.businessinsider.in/searchresult.cms?query=Delhi&amp;sortorder=effectivedate">Delhi</a>, NCR and Bengaluru can be made available for Rs 7,000.<br />
<br />
“It should be deemed as a crime. Without my permission, how can someone trade information related to me?” said Bengaluru-based Nagaraj BK, who was appalled that details of his purchase of a gas stove on <a href="http://www.businessinsider.in/searchresult.cms?query=eBay&amp;sortorder=effectivedate">eBay</a> were procured by ET as part of a free sample.<br />
<br /> However, eBay said it takes data security and privacy of buyers and sellers on its platform very seriously. An <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> spokesperson said the company was not aware of any data leak or any data being sold from their end, adding that any such case brought to their notice will be dealt with strictly to ensure customer data protection.<br />
<br />
The obvious question to ask is: where are these brokers getting the data from? “Most of the data is sold to us by mobile service providers, agents from hospitals and banks, loan agents, car dealers,” Rajesh, an executive from an NCR-based data broker, told ET.

Personal details are up for sale for less than a rupee

<br /> With the three days deadline given to Uber and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> to stop their pool services terming them illegal, both Uber India and Ola Cabs have defied the <keyword id="6354780" type="ENTERTAINMENT" weightage="20" keywordseo="Karnataka">Karnataka</keyword> Transport Department order and continued to offer these services on their respective portals.<br />
<br /> According to an Uber spokesperson, <keyword id="6591085" type="UNKNOWN" weightage="20" keywordseo="UberPool">UberPool</keyword> fulfills all requirements that allows for shared services to run in perfect harmony with the laws in the country.<br />
<br />
"Any contract carriage permit holder can stop to pick up or drop passengers who are included in the contractual understanding with the driver and UberPool fulfills this requirement. Hence, it does not violate the contract carriage permit in any way," he told ET.<br />
<br />
In conjunction with this, the company has also started a public petition online urging users in Bangalore to support UberPOOL.<br />
<br />
With an aim to reach out to 50,000 users who support the cab aggregator's pool services in Bangalore, the number stood at 18,033 at the time of publishing.<br />
<br />
"The recent expert committee report on Urban Mobility which has been accepted by the Ministry of Road Transport and Highways expressly recommends and recognises seat sharing in taxis as eco-friendly and being a cheap transportation option," the Uber spokesperson said. "We will continue to engage with the government on this issue," he told ET.<br />
<br />
Earlier, MK Aiyappa, Commissioner for Transport and Road Safety said that the cab aggregators collect fare for ride-sharing services, which is against the permit conditions. We are, however, not against carpooling by private car-owners as far as it does not involve exchange of money. If any driver is found continuing ride-sharing services from Friday, we will take action.<br />
<br />
He also added that cab aggregators did not submit a memorandum - seeking modification of the Karnataka Motor Vehicle Rules, in order to accommodate ride-sharing in the contract carriage permit - in the last three days.<br />
<br />
"Had I got the respresentation, I would have forwarded it to the Government," he told ET.<br />
<br /> Uber and Ola, two popular cab aggregators launched shared cab services in <keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword> in 2015.

Uber and Ola defy government orders, continue carpooling in Karnataka

<p><div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image"><a title_source="Uber/Vimeo" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5384fc81eab8ea62166cd618-960/uber-17.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://vimeo.com/77249014">Uber/Vimeo</a></span></p></div><p></p></div></div>A former limo driver recently wrote a letter to U.S. Attorney General Eric Holder, complaining about Uber. </p>
<p><span>In the letter - sent to Holder last Friday - Joe Jordan says that Uber is actually violating federal law. </span></p>
<p><span><a href="http://www.lctmag.com/blogpost/104104/operator-launches-limo-website" target="_blank">Jordan left his post as president of the Limousine Association of Houston in March 2011 to start</a><span> the "Limo Insider Report," a site dedicated to limo and taxi industry news - it has a marked anti-Uber bent. So yes, he is a former lobbyist for an industry that wants to see Uber die. You should take his letter with a pinch of salt.<br /></span></span></p>
<p><span><span>On the other hand, government intervention is the main threat to Uber. There is only one reason Uber operates in San Francisco and New York but not in Las Vegas or New Orleans - in the latter cities, government has made Uber illegal.<br /></span></span></p>
<p>Taxi lobbyists want Uber to abide by the same laws that taxi companies have to. That includes licensing all cars and drivers, providing cars with access for the disabled and not discriminating against riders from minority neighborhoods. Uber can't guarantee any of these things.</p>
<p>"UBER is totally illegal and has overwhelmed the law enforcement, transportation and airport authorities all across America," Jordan wrote in a letter to Holder, provided to Business Insider. "The situation has gotten completely out of hand and will only get worse without Federal Intervention."</p>
<p><span>It's not clear whether the Department of Justice even read this complaint. But this is how DOJ investigations get started - by people complaining in writing. If the DOJ were to take any of this seriously, it could mean bad news for Uber.</span></p>
<p>In New York for instance, <a href="http://www.businessinsider.com/new-york-attorney-general-on-uber-2014-4" target="_blank">the New York Attorney General Eric Schneiderman is investigating whether Uber's surge pricing is actually legal</a>.</p>
<p>So even if this letter to Holder produces no response, it still underlines to biggest weakness in Uber's business model: It's vulnerability to the lobbying of established taxi companies and the government regulation that might produce.</p>
<p><span style="font-size: 15px; line-height: 1.5em;">Business Insider has reached out to the DOJ and will update this story if we hear back. </span></p>
<p>Here's the full letter:</p>
<p style="padding-left: 30px;"><strong>FORMAL COMPLAINT AGAINST UBER TECHNOLOGIES</strong></p>
<p style="padding-left: 30px;">Sent by CERTIFIED MAIL<br />RETURN RECEIPT REQUESTED</p>
<p style="padding-left: 30px;">Hon. Eric Holder<br />Attorney General of the United States<br />U.S. Department of Justice<br />950 Pennsylvania Ave NW<br />Washington DC 20530-0001</p>
<p style="padding-left: 30px;">Dear Attorney General Holder,</p>
<p style="padding-left: 30px;">I am writing you today as a concerned citizen and Licensed Limousine Operator.</p>
<p style="padding-left: 30px;">In order for me to engage in the business of transporting the public for hire over<br />US Roads, I have to be licensed, drug tested, fingerprinted and have a full<br />FBI background investigation. My cars have to be inspected and I must carry<br />first-dollar commercial livery insurance that is in force 24/7/365.</p>
<p style="padding-left: 30px;">There are companies in San Francisco that claim to be "Ridesharing Companies"<br />or an "Internet platform connecting drivers with passengers". These companies<br />are dispatching specific vehicles, collecting the fare by credit cards and paying<br />the drivers. These companies are in fact actual Limousine and Taxicab companies,<br />but are crossing state lines and evading all laws, regulations and insurance<br />requirements.</p>
<p style="padding-left: 30px;">Here are some of the ways UBER Technologies is violating Federal Law:</p>
<p style="padding-left: 30px;">1) UBER discriminates against handicapped persons in violation of the Americans<br />with Disabilities Act (ADA). They do not have a single wheelchair accessible<br />vehicle anywhere in the USA. UBER also refuses to let people with seeing<br />eye dogs ride in their cars.</p>
<p style="padding-left: 30px;">2) UBER discriminates against blacks, Latins and minorities by refusing to enter<br />"Undesirable" neighborhoods for pickups or drop-offs. (Taxicab companies by<br />law must go to any address requested).</p>
<p style="padding-left: 30px;">3) UBER's App has secret codes for rating passengers. This could be for people<br />of color, bad tippers, old people needing help getting in and out of the car, etc.<br />Again, racial profiling and discrimination.</p>
<p style="padding-left: 30px;">4) A prominent Houston regulator was on a recent visit to Washington DC and<br />told us he used the UBER App to get a ride. He asked the driver if he had<br />licenses and insurance. The driver replied, "Yes but not for this jurisdiction.<br />UBER encourages us to cross state lines and go where they need more cars.<br />They say they will pay our tickets if we get caught"</p>
<p style="padding-left: 30px;">5) UBER misclassifies its drivers as "Independent Contractors" when in fact,<br />they are working as employees. Using the IRS 21 point checklist, you will<br />see that UBER micro-manages drivers, trains them and has them do things<br />only employees do. No UBER driver has workers comp. If they are injured<br />in an auto accident, UBER will not help them or pay any of their medical<br />expenses.</p>
<p style="padding-left: 30px;">6) Distracted Driving. In order to use the UBER App, a driver must always be<br />focused on the smart phone screen and a GPS screen. This distraction was<br />listed as a probable cause of a fatal accident on new Year's Eve when an<br />UBER driver ran over and killed a six year old girl.</p>
<p style="padding-left: 30px;">7) Evasion of USDOT insurance requirements. UBER is sending commercial<br />vehicles across state lines without proper insurance. The insurance they do<br />have is a surplus commercial liability line that is not real car insurance.<br />Several states have issued warnings about UBER's fraudulent insurance.</p>
<p style="padding-left: 30px;">http://www.idahostatesman.com/2014/05/22/3197321/ride-share-services-such-as-uberx.html?sp=/99/103/</p>
<p style="padding-left: 30px;">8) FORMAL RICO CHARGES AGAINST UBER. There are three active Federal Lawsuits<br />against UBER,in Houston, Chicago and Connecticut.</p>
<p style="padding-left: 30px;">http://mobile.bloomberg.com/news/2014-05-22/uber-lyft-face-racketeering-lawsuit-by-connecticut-cab-groups.html</p>
<p style="padding-left: 30px;">UBER goes into cities like Bonnie and Clyde and just starts operating illegally. City, County and<br />State law enforcement and transportation agencies and airport authorities are overwhelmed<br />and need Federal Assistance to control this illegal plague of unlicensed pirate taxis sweeping<br />the nation.</p>
<p style="padding-left: 30px;">9) ILLEGAL STOCK FRAUD. UBER claims to have ten billion dollars in Venture capital, yet<br />there is no SEC filing on obtaining these funds. The venture capital investors knew or should<br />have known that UBER is considered totally illegal in 13 states but provides them with funds to<br />operate anyway. This is aiding and abetting a continuing criminal enterprise.</p>
<p style="padding-left: 30px;">10) UBER cars cross the Canadian border and operate illegally there. The whole operation<br />is controlled and manipulated from offices in San Francisco. So here you have not only<br />crimes committed by illegal unlicensed vehicles crossing state lines; but international<br />borders as well. This is undisputedly within the jurisdiction of the U.S. Department of Justice.</p>
<p style="padding-left: 30px;">http://toronto.ctvnews.ca/unlicensed-uber-car-service-facing-charges-1.1835374</p>
<p style="padding-left: 30px;">11) UBER FREELY ADMITS THEY ARE FLAUNTING THE LAW.</p>
<p style="padding-left: 30px;">Here are some troubling quotes by the UBER CEO, Travis Kalanick:</p>
<p style="padding-left: 30px;">a) On the UBER website investor blog, he states: "We will begin operations<br />in any city where we perceive there to be little or no enforcement of<br />transportation law".</p>
<p style="padding-left: 30px;">b) "If they don't enforce, they must endorse" (Our behavior)</p>
<p style="padding-left: 30px;">c) "A Cease and Desist letter only means "You shouldn't be doing that",<br />but we say, oh yes we should".</p>
<p style="padding-left: 30px;">SUMMARY: UBER is totally illegal and has overwhelmed the law enforcement,<br />transportation and airport authorities all across America. The situation has gotten<br />completely out of hand and will only get worse without Federal Intervention.<br />Already one six year old girl has been run over and killed and an UBER driver<br />has been charged with rape of a passenger. There also allegations of massive<br />bribery of public officials.</p>
<p style="padding-left: 30px;">RECENT OBSERVATIONS OF THE U.S. DEPARTMENT OF JUSTICE:</p>
<p style="padding-left: 30px;">1) There is a link on the USDOJ website listing the accomplishments since<br />you took the office of Attorney General. These are impressive and certainly<br />something you should be proud of:</p>
<p style="padding-left: 30px;">http://www.justice.gov/accomplishments/</p>
<p style="padding-left: 30px;">The latest update was July of 2013, however. Don't you feel it would be nice to make a<br />major arrest and successful conviction of a group of people who brag about breaking<br />state and federal laws while getting away with it?</p>
<p style="padding-left: 30px;">2) Attorney General Holder, your recent article on "Nobody Too Big to Jail"<br />was certainly a bold statement and in a perfect world, would make many<br />things right and secure your place in history as a great Attorney General.<br />http://www.huffingtonpost.com/2014/05/05/doj-too-big-to-jail_n_5267238.html?icid=maing-grid7%7Cmain5%7Cdl11%7Csec3_lnk4%26pLid%3D472520</p>
<p style="padding-left: 30px;">UBER claims to have ten billion dollars in capital. Their major investors are<br />Goldman Sachs, Google and Amazon. How about it, Mr. Attorney General,<br />are those people "Too Big to Jail"? We are waiting..........</p>
<p style="padding-left: 30px;">HERE IS THE SOLUTION: Everyone is annoyed by constant complainers<br />who never seem to have an answer for all the problems they experience<br />in life.</p>
<p style="padding-left: 30px;">The crux of the matter is that UBER cars use a smartphone for assignments.<br />City, county and state governments do not have the electronic resources<br />to see the extent of the problem, identify the cars and drivers and issue<br />them tickets. The cars are undetectable to the naked eye.</p>
<p style="padding-left: 30px;">The National Security Agency (NSA) does have these resources and while<br />the military and intelligence communities are constrained by the Posse<br />Comitatus Act, there is a program called CALEA. (Communications Assistance<br />to Law Enforcement Agencies).</p>
<p style="padding-left: 30px;">As a former Senior Intercept Analyst at NSA, I can assure you that my colleagues<br />there could easily solve this conundrum for you in very short order. I would be glad<br />to recommend some of the right people to talk to at the Puzzle Palace at Ft Meade<br />if you have difficulty pursuing this.</p>
<p style="padding-left: 30px;">FINAL THOUGHTS: Your job description, more than any other person in government,<br />is to ensure justice, law and order and see to it that people and corporations behave<br />and operate in ways that maintain and enhance the American Way of Life.</p>
<p style="padding-left: 30px;">Here in Houston, the commencement ceremony was recently held at Texas<br />Southern University, which is predominantly minority. The speaker was prominent<br />Houston attorney Joe Jamail.</p>
<p style="padding-left: 30px;">1985, a Texas jury returned a $10.53 billion verdict for Jamail's client, Pennzoil Co., against Texaco Inc.<br />It remains the largest verdict upheld on appeal in legal history anywhere in the world. ...</p>
<p style="padding-left: 30px;">In his closing comments, Mr. Jamail commented on his life experiences and<br />people and events that shaped him. One was his parent's admonition, "Always<br />be outraged at injustice; an injustice to anyone anywhere is injustice to<br />everyone everywhere"</p>
<p style="padding-left: 30px;">If you could define UBER with one word; it would be INJUSTICE.</p>
<p style="padding-left: 30px;">Attorney General Holder, all Americans in their heart of hearts want to be proud<br />of you. You only have a relatively small amount of time left to ensure your place<br />in history as a man of honor, integrity and a man who had the courage in the face<br />of great opposition from those who would tell you to look the other way as you<br />pushed them aside and did what needed to be done anyway.</p>
<p style="padding-left: 30px;">It is our sincere hope that you take this issue up and return the<br />transport of the public to conform to established laws and regulations<br />designed to protect public safety, prohibit discrimination and enhance<br />the efficient movement of people in commerce across state lines.</p>
<p style="padding-left: 30px;">You have the power to make this a reality if you choose to do so.</p>
<p style="padding-left: 30px;">The eyes of Texas, and the rest of the country, are upon you.</p>
<p style="padding-left: 30px;">Respectfully,</p>
<p style="padding-left: 30px;">Joe L. Jordan, Editor<br />Limoinsider Report<br />14173 Northwest Freeway #166<br />Houston TX 77040</p>

This Letter To The Justice Department Could Be Uber's Worst Nightmare 

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Apple may very well be building a car. The tech rumor mill has been in a frenzy about this since last week. </p><p>In the auto industry, there's a bit more head-scratching going on. Why would a company that seems to be able to print money with gigantic high-profit-margin-money-printing press want to get into a notoriously modest-margin, capital-intensive business with upgrade cycles that can run for over 10 years (the average age of a car on the US roads is currently 11 years)?</p><p>But whatever. Apple will do what Apple will do. I think it's more likely that the company is working on connected-car or self-driving technology to match Google, which has a big head start. I can't imagine that Apple wants its CarPlay technology to be outdone by Google's Android, which is occupying some prime real estate on automotive dashboards these days (Audi, for example). </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>But one of the rumors about "Project Titan" has caught my eye in particular: that the Apple Car is some kind of minivan.</p><p>Yes, a <em>minivan</em>.</p><p>A black minivan with a sensor rig bolted to the top has been spotted in the Bay Area and is reportedly being operated by Apple to some secretive end.</p><p>Frankly, it looks a little like what the Google self-driving car did, before Google refined the form. Google strapped a bunch of tech on top of a Toyota Prius:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>It has since reduced all that to a small unit that looks a bit like an old-fashioned police siren:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Google Street View mapping cars still have the elaborate tech on top. So maybe that's the function of the stuff on the top of the Apple minivan. And it's been fairly well established that one of the keys to an effective self-driving car, not to mention an appealing suite of in-car connected technologies, is excellent maps.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>In any case, maybe I'm going out on a limb here, but I feel pretty comfortable declaring that if Apple is undertaking a blue-sky car project, the result will not be a minivan. </p><p>Minivans are terrific vehicles, but the car of the the future they are not. In fact, the minivan that Apple is using in the all these rumor reports is pretty much the definition of old-school: it's a Dodge Caravan, a direct descendant of the first minivans that Chrysler created decades ago.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Minivan sales do fine, for the most part, but the market is represented by effectively three companies and three models. Toyota has the bestselling Sienna, Honda has the highly regarded Odyssey, and Chrysler has the Caravan/Town &amp; Country.</p><p>Sales have also been sliding as Americans have been buying more full-size and compact SUVs. The key market for minivans is also families that value utility and safety over luxury and style. To a certain extent, if you're in the market for a minivan, you're not in the market for a masterpiece of automotive design or innovation.</p><p>However, minivans do have nice, big roofs. Perfect for supporting a bunch of cameras and sensors, with lots of room inside for other kinds of computer hardware. Also, they tend to have an enormous number of cup holders.</p><p>If Apple plans to create an <em>actual </em>car, it has better be thinking of an SUV-type product. That's where Tesla is headed, with its forthcoming Model X. It also seems likely that the Tesla Model 3, due to arrive in 2017, will feature compact-SUV versatility.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>Now that I think about it, as the Google self-driving car evolved, some SUVs ("crossovers," actually, a type of more refined, less truck-like SUV) were outfitted with the technology:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p>We might as well go into all this with an open mind. Apple could most certainly be building a car. But Apple is most definitely not building a minivan. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/edible-bugs-san-francisco-don-bugito-bitty-foods-2015-2">When we showed people the food of the future, they were shocked</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="w2bHg5czpuMhEhTwpaSY2TxNf1YHc7_5" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Apple is not building a top-secret electric minivan

The Indian economy just clocked its eighth straight quarter of slowing GDP (gross domestic product) growth. Consumer confidence had slipped further after hitting a six-year low late last year. All this had to hurt earnings of companies— Page Industries, Colgate, Dabur, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> to name a few— that depend on people spending money on their products.<br /><br />In the last one month, at least ten companies have seen cuts in earnings estimates anywhere between a slight tweak to as much as 10%. <br /><br /><table style="width: 389pt;"> </colgroup>  <tbody><tr> <td class="xl63" style="height:15.0pt;width:132pt">Company</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 257pt;">Cut in earnings estimate in last one month</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Page Industries</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-10.60%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.40%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.30%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Titan</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.50%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Berger Paints</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.40%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Jubilant Foodworks</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.40%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godjrej Consumer</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.30%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Asian Paints</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.30%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.30%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.20%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Britannia</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.10%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">GSK Consumer</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.30%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Nestle</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.40%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">ITC</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.70%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Pidilite</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Colgate</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.70%</td> </tr></tbody></table><em>Source: Axis Capital</em><br /><br /><strong>The following is the commentary from analysts on each of the stock that has seen a cut in the consensus earnings estimate.<br /></strong><br /><strong>Page Industries:</strong> “The path to earnings recovery, particularly after the unprecedented margin dip in 3QFY20, is unclear. Category slowdown, weak channel liquidity and competitive tailwinds present significant near-term challenges. Our channel checks across various cities in the country also do not indicate green-shoots of recovery,” Motilal Oswal said in its report on Feb 13 while cutting the target price for the stock to ₹22,250 a piece for the next one year .<br />
  
  
  
  
  
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<br /><strong>Marico: </strong>From a slowdown in rural consumption and drying of cash circulation among dealers and distributors who are looking to cut down on inventory are not the only problems for the company. As economic growth got slower and people got more penny-wise, some of the company’s customers are moving back to unbranded products that are cheaper and can be bought in small quantities as per need. <br />
  
  
  
  
  
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<br />This has led to a cloud of uncertainty for Marico, which has lost over 15% in share value since early December. “The near term pain envisaged, when we released our initiation note on Dec 2, has actually extended by a couple of quarters, with revival now expected from the second half of the next financial year ending March 2021,” according to Nirmal Bang Institutional Equities, which still has a ‘buy’ rating on the stock and a target price of ₹400 that implies a nearly 33% jump from the current value.<br /><br />Aside from being oversold, the only silver lining for Marico is the cheaper price of key inputs.<br /><br /><strong>Emami: </strong>Like Marico, Emami also benefits from cheaper commodities but that is no good when data shows that domestic volume growth contracted for the first time in recent memory. But the fears have already played out and the stock has lost over 35% of its value in the last one year. “Valuations are at about 60% discount to peer average,” cited a Motilal Oswal report while recommending that investors buy Emami expecting a 19% jump in price in the next one year. <br /><br />
  
  
  
  
  
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<br /><strong>Titan:</strong> ‘Growth’ was never under question for Tanishq; ‘Growth + Margins’ was, said the opening lines of a report from ICICI Securities recently. Tanishq is a jewellery chain operated by Titan that also sells watches and eyewear.<br /><br />The company’s jewellery business surprised analysts by growing 11% and making as much profit margin as a year ago, if not better. But watches and eyewear, two other important segments, showed signs of weakness. <br /><br />Over 85% of the company’s revenue comes from jewellery and the recent rise in gold prices may affect buyers’ sentiment. <br /><br />
  
  
  
  
  
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<br /><strong>Berger Paints:</strong> Berger’s revenue growth decelerated further and earnings were 7% below estimates, Kotak Institutional Equities said after the latest quarterly report from the company. One of the biggest stumbling blocks for the company is the sharp slowdown in car sales and production. The fall in crude oil prices as the coronavirus spread is good news but not good enough. Kotak rated the stock as ‘sell’, adding that the fair value for the stock would be ₹430, nearly 25% lower than the current level.<br /><br />
  
  
  
  
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 <br /><strong>Jubilant Foodworks: </strong>The sole franchise holder for Domino's Pizza and Dunkin Donuts in India is faced with a double whammy. Both vegetables and milk are getting expensive shrinking margins.<br /><br />In early 2018, Jubilant’s same store sales ⁠— sales from stores open for at least a year ⁠— were growing well above 20%, today it is down single digits. The same-store sales in the latest third quarter 5.9% and that was the highest this financial year. The ongoing quarter, Jan to March 2020, may see a hit from a rise in violence in Delhi that has led to fewer people stepping out to eat or ordering in for that matter.<br /><br />PhilipCapital’s target price for the stock is ₹1,750 not very far where it is right now.<br /><br />
  
  
  
  
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<br /><br /><strong>Godrej Consumer: </strong>The same PhilipCapital gave a ‘high-conviction sell’ rating for this company that is a king of toiletries in India⁠— from soaps and shampoos to hair colour. <br /><br />What’s helping Godrej is the fact that 45% of business is overseas and in countries that have shown better economic performance. Without the 11% growth (in constant currency terms) in overseas revenue, the total topline growth would have been much worse than the 2.1% clocked in the latest third quarter.<br /><br />
  
  
  
  
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<br /><br />However, a report from Credit Suisse has projected a turnaround in the home insecticides sales and therefore increased the target price to ₹680 a piece a year from now, a 21% rise from Friday’s closing price.<br /><br /><strong>Asian Paints:</strong> As a paint maker, Asian Paints has challenges similar to those of Berger Paints mentioned above. But Asian Paints is a leader in the market and has been focussed on gaining market share by offering competitive prices to beat the slowdown.<br /><br />Asian Paints has expanded its market share (value) from 44% in the financial year ending March 2008 to 53.6% at the end of March 2019. “With the entry of new players, Asian Paints has increased its aggression in trade and is focusing on gaining market shares even in low priced paints / putty &amp; primers,” an ICICI Securities report said citing the risk of action from the country’s monopoly regulator. <br /><br />
  
  
  
  
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<br /><strong>HUL: </strong>Hindustan Unilever, which sells every soaps and shampoos to food items of daily use at home, has been improving its profit margin nine years in a row. The current slowdown has not changed that but the volume growth is abysmally low at 5% for the last three quarters compared to 12% in the first quarter of financial year 2018.<br /><br />
  
  
  
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<br /><br />There is no recovery in sight for at least another two quarters. While rising prices of key inputs are either forcing price hikes or narrower margins, people’s spending power has been eroded by rising inflation and now, rising cost of keeping a mobile phone. <br /><br />There may be some upside after the company’s decision to set up a 100% subsidiary to enjoy a lower tax rate of 15%. However, the street is waiting to see how this plays out and what benefits accrue. ICICI Securities kept its estimates unchanged citing the risk of further slowdown in consumption and irrational competition.<br /><br /><strong>Dabur: </strong>Except for Dabur Amla, Dabur India’s journey so far in the Indian Hair oil sector has been lackluster. Its other key offerings like Dabur Anmol and Dabur Almond has not been able to make a mark till now. Vatika, a key offering positioned in the coconut oil segment has not worked well in India, while has gained good success in international markets, said a report from SBI Caps recently.<br /><br />
  
  
  
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<br />The growth in the modern trade has gradually decelerated as the slowdown catches up and the company is trying to beat that with new product launches. It is expected that the company owned by the Burman family, so far known for its health supplement Chyawanprash and hair oil, may launch fruit-based cold drinks this summer to take on the like of Coke, Pepsi and Parle.<br /><br />The consensus earnings estimate is only 0.2% down for Dabur in the last one month but in the last one year it is down by 8.4%.<br /><br /><strong>SEE ALSO:<br /></strong><a href="https://www.businessinsider.in/business/corporates/news/profit-margin-on-jockey-and-speedo-shrinks-shows-page-industries-q3-earnings/articleshow/74119148.cms" data-type="tilCustomLink" target="_blank">Biting slowdown is squeezing Page Industries' profit margin on Jockey and Speedo</a><br /><br /><a href="https://www.businessinsider.in/stock-market/markets/news/coronavirus-impact-and-other-reasons-why-stock-market-experts-say-dont-buy-shares-now/articleshow/74059150.cms" data-type="tilCustomLink" target="_blank">Coronavirus and beyond— reasons why this is not ideal time to buy stocks in India, according to experts, money managers, and researchers</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/for-lic-ipo-to-succeed-the-life-insurance-giant-has-to-dump-a-lot-of-sick-stocks/articleshow/73889676.cms" data-type="tilCustomLink" target="_blank">For LIC IPO to succeed, the life insurance giant has to dump a lot of sick stocks</a><br /><br />

Inside India’s consumption slump⁠— stories from Godrej Consumer to Page Industries to Emami and many more

<p><div class="KonaFilter image-container float_right"><div class="image"><p class="source"><span>AP</span></p></div><p></p></div><em>By: Sen. Jerry Moran is the junior U.S. senator from Kansas. Rep. Tom Cotton is a congressman from Arkansas. </em></p>
<p>The newest Davis Guggenheim documentary <em>Spent: Looking for Change</em> premiered on YouTube this week and shared with the world the heartbreak of financial insecurity and the struggle to escape it. The film tells stories about how a lack of access to basic financial services can make the road to economic security long and difficult. Unfortunately, the film's stories are all too common for the millions of Americans who work hard yet face resistance and pitfalls while trying to scale the economic ladder and realize their own American Dream. By addressing the headwinds that limit upward mobility, we can improve the chances that more Americans can achieve financial security.<br /><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></p>
<p>Research shows that one of the most critical factors that enhances economic mobility is savings. When individuals and families are able to create their own safety nets, they are less likely to be derailed by financial emergencies. Those who save are also better equipped to make mobility-enhancing investments such as purchasing a car, buying a home, or saving for college. The Pew Foundation's Economic Mobility Project found that 71 percent of children born to high-saving but low-income parents emerge from the bottom income quintile in one generation, compared to only 50 percent of children from non-saving low-income households. <br /><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></p>
<p>While the correlation between savings and economic mobility is strong, too few Americans choose to make savings a priority. Research shows that 44 percent of American households lack the savings needed to cover basic expenses for three months, leaving families unable to withstand a financial emergency. In 2013, the personal savings rate dipped to just 3.8 percent, down from down from 10.5 percent in 1963. Meanwhile, over 20 percent of Americans believe winning the lottery is a meaningful strategy to build wealth. Americans spend more than $60 billion every year on lottery tickets, and families earning the least spend the highest percentage of their earnings on lottery tickets despite the long odds of winning.<br /><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></p>
<p>This savings crisis affects individuals, families and the entire American economy. It is one of the reasons we support the American Savings Promotion Act. This bipartisan legislation updates a broadly-written banking laws to allow banks and thrifts the ability to offer prizes for customers who make a deposit in their savings account. These prize-linked savings (PLS) accounts are an innovative tool to encourage saving while offering the thrill of a chance to win a larger prize. PLS programs have proven successful both abroad and in states that allow credit unions to offer these products.  <br /><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></p>
<p>More than a half dozen states have changed applicable state laws to allow credit unions to offer prize-linked savings accounts. In 2009, Save to Win, the first large-scale PLS program, was launched at a handful of credit unions in Michigan. Each time a participant deposits $25 in their savings account, they are entered into a raffle with a chance to win a monthly prize of up to $3,750 or an annual prize of $10,000. Early data from the program shows that this incentive has been successful at encouraging first-time savers and low-to-moderate income savers. The program has since expanded to Nebraska, North Carolina and Washington. In addition, state lawmakers in Indiana approved legislation this session to allow PLS products. Since 2009, over 50,000 account holders have collectively saved more than $94 million. Unfortunately, current federal barriers prevent banks and thrifts from offering these proven PLS products. The American Savings Promotion Act would update federal law to allow states to expand prize-linked savings to other financial institutions. This legislation has been introduced in both chambers of Congress and enjoys bipartisan support from across the political spectrum. <br /><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></p>
<p>Increasing savings is not only a win-win for individuals and families, it will also provide a boost for financial institutions and the greater American economy. Let's give all Americans - especially those with the greatest need of financial security - an incentive and tool to protect themselves from risk, save for their future and more easily scale the economic ladder.<span style="color: #888888;"><span style="text-decoration: underline;"></span><span style="text-decoration: underline;"></span></span></p>

Addressing The American Savings Crisis

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<p><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>If you stand at the end of the dock in Crisfield, Maryland, and gaze out over the water, you might not catch the tiny shape of a water tower barely visible on the horizon. And when you look at a map you can just as easily miss the tiny island that the tower sits on, 12 miles from either coast in the middle of the Chesapeake Bay. Largely unknown, Tangier Island, Virginia, is one of the most isolated and extraordinary places in the continental U.S.</p>
<p>It's also in danger of disappearing. In 50 to 100 years, the water tower in the center of town may be all that's left of the place.</p>
<p>Many of us have heard about far-off islands, <a href="http://www.businessinsider.com/islands-threatened-by-climate-change-2012-10" target="_blank">like the Maldives or Kiribati</a>, which are slowly sinking into the ocean because of erosion and rising sea levels. Far fewer know of Tangier, an island right here in the U.S. that's currently only 4 feet or so above sea level at its highest point and that may soon suffer the same fate.<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div></p>
<h3>An Island Apart</h3>
<p>"Tangier's laid back," says Ricky Laird, the man who became my surrogate tour guide on a recent visit to the island. "It's a nice place and everything's reasonable here," he says as he paints a newly purchased dingy in the yard of his house.</p>
<p>Laird, 44, was born on Tangier, and, after a stint on a farm in Appalachia, he moved back.</p>
<p>"I don't care who the president is - I don't even know who the governor or senator of Virginia is," Laird says. The isolation of the island, an hour-and-a-half ferry ride from the coast, and largely closed off from the rest of the world, makes it unique. Some islanders go years without seeing the mainland, getting the supplies from the trusty mail boat that arrives in the harbor every day, rain or shine.</p>
<p>The men on the island, virtually all of whom work as commercial crabbers and oyster fishermen, or "watermen," pack their catch on a separate boat that makes daily trips to the mainland, further reducing the need to leave.<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>Just 1.2 square miles in all, Tangier Island is home to more than 500 full-time residents whose families have known one another for decades.</p>
<p>"You don't have to worry about traffic jams and murders, child molesters, rapist, and thieves," Laird says. "You can leave your doors open. You don't have to lock anything."</p>
<p>Although he knows pretty much everyone, he doesn't share one of the island's prevalent last names, which include Parks (93 residents had that name in 2009), Pruitt (75), and Crockett (65). Many of these names can be seen on tombstones in the front lawns of the homes on Tangier, placed there out of necessity because of the island's low elevation and lack of space.<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div> Laird speaks in a thick accent native to the island, equal parts Southern twang and English brogue. The traces of Elizabethan English still present in the accent may have been influenced by working-class Brits who came to the island early in its settling. Vowels are extended to multiple syllables, making certain words hard to understand to outsiders.</p>
<p>I was confused when Ricky referred to what I heard as "terrorists" visiting the island. I soon realized he was referencing the "tourists" who flock there every summer.</p>
<p>Europeans, led by Captain John Smith, explored Tangier Island in 1608, though it had been a summer camping spot for the Pocomoke Indians long before that. Legend has it that John Crockett, still a common surname on this island, was the first to inhabit Tangier full-time when he and his eight sons arrived in 1686. <div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>In the 19th century, Tangier became home to annual Methodist tent meetings, and the island has been a stronghold of religion ever since. The island shuts down every Sunday morning, and once denied Hollywood filmmakers permission to shoot the PG-13 Kevin Costner movie "Message in a Bottle" there because of the script's mentions of swearing, sex, and drinking.</p>
<p>Tangier is dry, with booze unavailable for purchase. But don't let that fool you. "Everybody drinks, but they do it inside the house," a man we'll call Mike tells me as he passes a Sprite bottle filled with vodka from the cup holder of his golf cart, the preferred mode of travel on the island (there are few cars).<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>Still, while minor transgressions occur behind closed doors, the religious ethos prevails, causing many young people to feel stifled. "When I was a teenager, there was a pool hall, but you had to be 16," Mike says. "Otherwise, they're ain't shit to go on for teenagers. When they graduate, that's why they want to move off."</p>
<p>After walking the island and reading the historical signs in the streets, one gets the sense that the heyday of Tangier, once home to movie theaters, factories, stores, and an opera house, is long past.  The population has declined from about 1,500 at one point to a third of that today, and the total drops every year.</p>
<p>One of the main reasons for that may be that the island itself is disappearing.</p>
<h3>Losing Land And Time</h3>
<p>Records indicate that in the mid-1800s, Tangier Island encompassed some 2,062 acres. It was home to watermelon farms, grazing cows, and a variety of plant life. Today, the total land mass amounts to just 768 acres, of which just 83 acres are habitable. </p>
<p>While Tangier Island has been slowly losing ground to erosion for hundreds of years, the combination of rising sea levels and more devastating weather - both spurred by global warming - have greatly increased the rate of land loss. Research shows that Tangier is now losing nine acres of land a year to erosion and rising tides.<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>"It'll be gone. If we don't get a seawall - that's been in the process for years - it's just gonna wash away," Mike tells me when I ask what the island will be like in 50 years.</p>
<p>The proposed seawall, a long rock barricade that would run the length of the eastern shore of the island, is expected to be completed in 2017. A similar seawall to the west was completed in 1990 and now protects that shore, which had previously seen houses falling into the sea.<div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>One of the most striking signs of the rapidly disappearing island is the Uppards, a beautiful area on Tangier's north end, where multiple families once lived year-round. Today, the Uppards has almost completely succumbed to the rising water levels, turning into a marshy, swampy wetland with major portions of fully submerged. </p>
<p>I ask Ricky Laird to take me to the area on his skiff, now the only way to reach it. He tells me how he used to play with his friends in the Uppards and hunt ducks with his father. Now the only sign that humans ever lived there is a solitary mobile trailer on the beach, seemingly minutes from being taken completely by the surf.<br><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>Laird doesn't seem worried, though. "The island ain't goin' nowhere. They talk about erosion, but it's been here forever and it ain't gone nowhere in forever," he says.</br></p>
<p>But as I walk around the island on my second day and see front yards turned into shallow ponds as high tides come in, I'm not as confident. And neither are most scientists.</p>
<p>"We have a pretty high degree of certainty that things are going to get wetter and wetter," Carlton J. Hershner Jr., a climate-change scientist at the Virginia Institute of Marine <keyword id="41551" type="ENTERTAINMENT" weightage="60" keywordseo="science">Science</keyword>, <a href="http://bigstory.ap.org/article/chesapeake-bay-island-amid-disappearing-act" target="_blank">recently told the AP</a>. "Not to be a bearer of bad news for Tangier, but that would suggest that sometime in the next 50 to 100 years the island would basically be underwater."</p>
<p>Tangier's physical fate may not be the most pressing problem on the island today, however. The more urgent question on the minds of residents seems to be whether anyone will still want to live there in the future, even if the island does survive the next 100 years.</p>
<h3>A Different Kind Of Disappearance</h3>
<p>"I'd like to be able to do this for the rest of my life," Laird's son, Nick, declares over egg sandwiches in his family's kitchen. "It's kind of scary to think you might not be able to." Nick, 24, has decided to follow in his father's footsteps and become a waterman. Years ago, this career path was the norm for boys on the island. Nowadays, Nick is in the minority.</p>
<p>"I think the work part deters a lot of people," Nick says. "I don't want to say they're lazy, but there's not much else here to offer young people." Kids are leaving Tangier in droves, some for college, others for the military or elsewhere. Many will never return to the island full-time.</p>
<p>"A lot of kids nowadays, it just doesn't appeal to them. They see mainstream culture, and they say 'Hey, I think I'd like to move off, get a car, get a house, go to the mall," Nick says.<br><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>It certainly doesn't help that being a waterman is becoming increasingly difficult. For the past 15 years, in an effort to prevent overfishing, Virginia has placed a moratorium on any new crabbing licenses. And other restrictions have greatly reduced the length of fishing seasons. <br><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>With more and more young people moving off the island every year, Tangier Island truly is entering a twilight stage. Nick guesses that about half the island is at or above the age of 60. On an island this small, it's hard to find a partner and, increasingly, young folks move away for romance as well.</br></br></p>
<p>"Some people that are married here today, they've been together since the seventh grade. But if you don't get someone in the seventh or eighth grade, you're in trouble," Ricky says, adding that the fourth-grade class at the island's only school has one lone boy. <br><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>The once prosperous town now looks a bit beat down and lonely, too. Houses sit abandoned and dilapidated. Ricky tells me that I could buy a house and land on the island for about $7 to $10,000, a steal in any other island community. It sounds tempting until you remember that such an investment might well end up being the equivalent to throwing money in the ocean.<br><div class="KonaFilter image-container display-table no-rightrail"><div><div class="image on-image"></div><p></p></div></div>Before I leave the island, I stop a boy working to clear water out of his fiberglass dingy. I ask him what he plans to do when he gets older. "They say in about 100 years, this island's gonna be disappeared, but I'm not going to college. I'm gonna work on the water here," he says. "I'm not gonna be living in another 100 years, either." </br></br></p>

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