Know the Mechanism of Led Lighting

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LED’s are largely used as signal lamps in many appliances and more and more people are increasing using LED lighting. LED means light emitting diode which belongs to semiconductor category. It originated in 1960 when it was used for producing low intensity lighting, but nowadays it is primarily used for ultraviolet lighting delivering powerful brightness and energy.

The mechanism or the functioning of LED lights is really simple to understand. Whenever you switch on the light emitting diode light series of electrons combine together with lots of electronic holes inside the appliance, thereby releasing energy. The resulting effect is called as electro-luminescence and it gives various colors depending on the semiconductor and its energy. Normally LED is very small and it occupies only 1mm of surface, however you can use many optical elements for designing its radiation. When compared with other traditional light sources LED lights are highly advantageous since it consumes very less energy. Though it is smaller in size, you cannot tell that it cannot work efficiently. It can work non-stop for long hours and is highly strong and robust in its efficiency.

Even a small light of LED can create brightness to the entire room. But it you compare the power of fluorescent lamps with LED you can understand its quality and efficiency. Light emitting diodes lamps are widely used in aviation industry and in automotive industry. Have you ever watched the brake lamps in your car and powerful turn indicators which emits flash of colored lights? They are nothing but LED lights. That apart you can also find these lights in traffic signals which are clearly visible even in misty weather conditions. Of late infrared LED lights find application in remote control devices which is used for operating television, DVD sets and recorders and many other domestic appliances.

The lights of LED are very small in size but big in capacity and functions. Owing to is efficiency and power saving nature many people use these lights in their home. Apart from domestic usage, it is also used in industries and organizations and any other business enterprise. You can also these lights as decorative lights and have brilliant effect in your garden. When it comes to party you can use several colors of LED lights to illuminate the event. In case you have not used LED lighting so far, it is time for you to switchover to these lights which are power saving and reliable for you. Since the light originates from solid object unlike other lights which come from gases these lights do not heat the surrounding even it burns for long duration.

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Source by Carrie Dolt

Water or Coolant Mixed With the Transmission Fluid: Is the Gearbox Ruined?

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A silent killer of automatic transmissions or gearboxes is water or coolant mixing with automatic transmission fluid (ATF). This problem used to be seen in older vehicles with neglected engine cooling systems, but is becoming common in later model cars and trucks that have followed their maintenance schedules. The result is always the same: the transmission must be completely overhauled or replaced.

Can the Contaminated Fluid be Cleaned Out Before Damage Occurs?

Just about every automatic transmission on the road today uses cellulose based paper lined plates called clutches or frictions. These clutches act like brakes for moving and stopping different components inside the gearbox. When the shifter is placed into drive or reverse, it’s the frictions that are being applied.

The paper that lines the clutch plates is a very delicate material that is glued to a steel backbone. Before the paper is glued to the plate, it has the strength and consistency of a graham cracker. Once the material is bonded, it becomes much stronger and can last a very long time under normal operating conditions.

The clutch material is Hygroscopic. This means when the clutches are exposed to moisture, the paper material will displace ATF for water. That moisture reaches the steel plates causing rust, and breaks down the glue that bonds the paper to the plate. A study done by International Lubricants Inc about the effects of water exposed to automatic transmission clutches states, “The testing indicated that water added at levels as low as 600 mg/kg migrated to the surface of untreated paper frictionals and contributed to loss of the paper coating and erratic torque transfer properties.” In laymen’s terms, that means less than a tablespoon of water or engine coolant in a transmission can cause a failure.

How Did Water Get There?

There are three ways water can enter a transmission:

  1. Through the engine’s radiator. From the 1950’s to now, most automatic gearboxes are cooled with the same water based system that keeps the engine from overheating. There’s a separate tank in the radiator for transmission fluid that allows the coolant to take heat away from the ATF without mixing the two liquids. When a leak occurs between the ATF and engine coolant tanks in the radiator, the fluids will mix with each other. It was more common in older vehicles that had eroded cooling systems due to neglect, but some of today’s newer vehicles are using materials that are failing because of pressure problems in the cooling system.
  2. Exposure to deep water. Driving through large puddles during rain storms or off road driving can expose the transmission’s breathing system to moisture. The best chance of preventing a failure is to check for water in the ATF after a vehicle has been in this type of scenario.
  3. Moisture entering through the dipstick. Most vehicles have a dipstick where ATF is checked and added. Moisture can easily enter the transmission if the dipstick was sprayed with water during an engine cleaning, or in some cases, water draining from rain or a carwash drips onto the dipstick. GM and Chrysler have bulletins pertaining to this problem on some models of their vehicles. Qualified shops will have access to check for these types of bulletins. A tell tale sign of this problem is moisture or rust around the dipstick tube.

Replace or Rebuild?

It depends on how much water mixed with the transmission fluid, how long the vehicle was driven with the contaminated ATF, and the type of gearbox your vehicle has. Metal and electronic parts inside the transmission will quickly corrode when exposed to moisture. If there is too much damage inside of the gearbox, the cost of the parts to rebuild the trans will exceed the cost of replacing the unit with a remanufactured product. Some manufacturers like Nissan and Chevy have computers inside of the gearbox that will fail when exposed to moisture. These computers or mechtronics cost as much as $2,000 and that does not include rebuilding the rest of the unit. When parts cost that much, it’s often a better decision to replace the gearbox entirely.

To sum things up, if water gets in a transmission, there’s no way to get around an expensive repair. Flushing the fluid out will only cost you extra money and can make the inevitable failure happen sooner. Service the engine’s cooling system regularly and ask a professional transmission mechanic if your car is common for this type of failure. If it is, bypass the radiator with an external oil cooler.

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Source by Jon Rodriguez

How to Sell Candy at School

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During my freshman year in high school there used to be one candyman who everybody went to when they wanted candy. He was so good at his job that people literally started calling him “Candyman”, inside and outside of school. Kids began to realize that selling candy was a really lucrative business—at least for a kid in high school. By my sophomore year there were a few more “candymen” on the scene. This was quite convenient in that you didn’t have to report to THE Candyman every time you wanted candy. Now I’m in my junior year of high school and everybody’s a candyman. Now it’s virtually impossible for candy to be inaccessible on the 5-acre campus. I’ve been a candyman for 10 months now, and I’m going to share some tips with you that I had to learn by experience.

1. Buy your candy in bulk variety packs at Costco or Walmart. This will save you money.

2. Start off bringing about 25 candies every day. How much you bring depends on many factors, like your school size. There are nearly 3000 kids at my school and I’ve been able to sell over 50 candies a day.

3. Try to make regular customers. Find people who will buy your candy every day. Don’t be afraid to ask!!! “Hey, you want some candy?”

4. Abide by the Candyman Commandments below…

The Candyman Commandments

1) Thou shall not consume thy product.

Don’t eat your candy! You will never save any money that way.

2) Thou shall be unique.

There are all kinds of ways to be unique. For example: One of the candymen at my school turned his backpack into a portable refrigerator by neatly stuffing it with bags of ice. This kept the chocolate from melting. Guess whose chocolate everyone bought….his. Uniqueness and originality go a long way; that’s what brings in the cash.

3) Thou shall not overcharge.

Stick to the “everything is $1 rule”. (of course little things like lolipops are exceptions). Overcharging will not get you more money…It will get you no customers.

4) Thou shall not undercut.

Being a candyman is not about price competition. People WILL buy your candy as long as you don’t break Commandment #3. People will buy candy from you even if they’re not hungry–it’s human nature to just want candy when you see it. Don’t try to sell your candy at a discount and think that you will get more customers. From experience I know that you will not get more customers this way. This will just just lower your profits.

5) Thou shall be in possession of the following items during business hours:

* one-dollar bills. Always keep a stack of $1 bills so that you always have change and never have to let a customer down.

* Skittles, M&Ms, Snickers, Kit Kats, 3 Musketeers, Resse’s, Starbursts. These are the basics, the must-have candies. Uniqueness comes into play here. Try to sell a rare, high-demand candy like Shockers (formerly known as Shock Tarts). Don’t just sell the Original Skittles; sell the Tropical flavored ones too.

Now for the big question….How much money will I make? It depends. I personally made around $15 profit a day. You can make more. You can make less. Follow this guide and try to develop your own pattern.

Selling candy is like a passive income—you don’t really have to work; you just have to be smart and consistent.

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Source by Michael Z Adams

Feed Forward Vs Concurrent Vs Feedback Control

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Managing people in a work environment is not easy due to all the different variable for each work place. However there are three control types you can implement as a manager to insure that the work is done according to standard.

Feed forward is the best control type and probably should be used more by businesses to ensure things are done correctly. Feed forward is a control measure that implements things such as rules, education and training before the event happens. The purpose of this is to prevent any problem before it happens which eliminates the necessity for using corrective action. This saves time and resources and thus improves productivity.

Concurrent control is the use of corrective action as it happens. It is also known as managing by walking around. This solution is implemented as fore mentioned, by walking around the work place, use of surveillance cameras and any other means of monitoring the work place in real time. Concurrent control is not as efficient as feed forward control because resources and time are needed to fix the situation.

Feedback control is the last resort when it comes to control. Feedback control takes place after the situation has occurred. The situation is reviewed and scrutinised as to why did it happen? What caused it? And by using feed forward control, how can this be prevented from happening in the future. As you would expect, feedback control is the least efficient of all the control types because it uses the most resources.

As a manager, you should be looking at implementing feed forward control as much as possible, then using concurrent control and very little feedback control. If the first control type is implemented correctly, the next two should not have to be used much.

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Source by John F Day

Airport Shuttle Service – 5 Advantages

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Airport shuttles offer reliable and inexpensive transportation to and from airports in most major cites. The most common type of airport shuttle service utilizes the share a ride model, where passengers share the ride with a few other passengers to keep costs down for everyone. Some companies are even offering luxury airport shuttle services, allowing passengers to share a ride in limousines or private cars instead of standard passenger vans.

#1 Cost Effective

Shuttle services across the country offer inexpensive airport transportation services to passengers. With fares averaging between $15 and $25 per person, shuttles present a significant value over taxi’s and private car services.

#2 Reliable

Most shuttle services allow you to schedule your pick up time and location online and then guarantee that they will arrive within 15 minutes of your scheduled pick up time. This reliability ensures that you will make it to the airport or your hotel on time.

#3 More Comfortable than Public Transportation Options

Most big cities offer public transportation options to and from hotels. Depending on the city, these options may range from buses to subway systems to trains. All of these options require passengers to cart their luggage to the necessary stop, leaving passengers tired and exhausted. Passengers may also experience confusion concerning what stop is closest to their hotel. Shuttles take care of passenger luggage and drop passengers off curbside at their hotels.

#4 Knowledgeable Drivers

Most shuttle services have courteous drivers who make the trip from the airport a sight seeing affair. Landmarks and other attractions will be pointed out on the way, making the trip to or from the airport an enjoyable experience.

#5 Luxury Options

Some cities, including New Orleans, offer luxury shuttle service. These companies offer share a ride service in limousines and private cars, giving passengers a more upscale experience. Even though luxury vehicles are used, these luxury services are still affordable.

In short, make sure to research airport shuttle companies when you are making plans to travel to a new city. You will save money and experience a number of benefits during your transportation.

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Source by Leslie Miller

The Windshield Replacement Survival Guide – Consumer Auto Glass Education

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Replacing Your Vehicle’s Windshield? Here is Your Windshield Replacement Survival Guide.

Safety First

A vehicles windshield provides the occupants a barrier from road debris and the outside elements. But most people don’t know a windshield is designed for structural safety in case of an accident, especially a rollover. A windshield is a vehicles third most important safety feature behind the seat belts, and air bags.

Windshields are like basketball backboards for air bags. So if you have a damaged windshield your air bag may not function correctly. It actually may inflate out the windshield cavity, rather than towards you. Or it won’t adsorb any pressure because your windshield simply pushes out.

Most consumers are not aware that when technicians replace your windshield, there is significant scratching to the “pinchweld” where the glass bonds to the car. These scratches must be prepped using paint and rust prevention steps. They should not simply leave exposed scratches where moisture from the exterior side can cause rust to develop.

Here are some questions you should ask your auto glass company:

  • Is the new glass OEM?
  • Did they remove the brand label on the windshield?
  • Does the new glass have a shade band that matches your old glass?
  • Is the new windshield the same color glass? (glass is actually colored, not clear)
  • Does your windshield have a rain sensor?
  • Is your windshield heated? (companies will install non-heated and charge for heated)
  • Does the windshield have the right bracket for your rear view mirror?
  • Does the new windshield have the same third visor as your old glass? (the painted black design which you can see around the rear view mirror on most cars)
  • Are they using a universal trim molding, or the actual trim molding part for your vehicle?
  • Does the company pay to fix paint scratches, if made by the auto glass technician?

Always inspect a piece of glass for scratches and distortion before it’s installed.

Types of Automotive Glass

A windshield is actually two layers of glass with a laminate material between the layers, what is called “laminated glass”. Laminated glass is extremely hard to puncture or break apart. That’s why a large object like a stunt man, can impact the windshield without breaking through. The strength of laminated glass combined with proper adhesion of the windshield to the body of the car provides massive strength against the roof collapsing in a rollover.

All of the other windows in your vehicle are “tempered glass”, which means they break into tiny fragments to reduce injury to the occupants. (a small fraction of vehicles have laminated side and rear windows also)

Windshield Urethane

Today’s vehicles use urethane as the adhesive to bond the windshield to the vehicle, like a glue. Some urethane after complete hardening which can take 2-4 weeks, can hold 500 pounds per square inch of pressure. That’s one reason why you could never simply push your windshield out. Impossible! Some urethane allows you to drive away within one hour after installing the windshield, hardening just enough to withstand vehicle accidents. When your replacement has been completed, make sure to inspect the inside of your vehicle around the edge of the glass. Make sure no urethane has oozed out into view or onto your vehicles interior. This is more common then people realize and needs to be fixed immediately before the glue hardens!

The urethane is normally heated, then applied to the glass or car body at the raised temperature. Depending on where you live or the application, they can use different kinds of urethane, even a cold temperature apply that is not heated. Temperature has a huge impact on the adhesion qualities of the windshield. I would recommend never getting your windshield replaced in temperatures lower than 55 degrees, or higher than 105 for the best results if possible. This is easy if you have the glass replaced inside of a shop or in a shaded area. Direct sunlight can heat the windshield to over 125 degrees!

Urethane does have an expiration date, so make sure you ask about this before a technician begins replacing your vehicle glass. Using expired urethane means minimal bonding power and the windshield has a chance of coming out during an impact. All urethane is made with an expiration date printed on the tubes, and if they don’t call someone else!

Paint Scratches, Rust, and Proper Windshield Installation

Deep vehicle scratches can turn into major problems later. Moisture will enter through a scratch and attack your vehicles body causing rust later. For people who live by the ocean, this can be disastrous for the structural integrity of your vehicle down the road near the windshield. If you are buying a used vehicle, make sure you check around the edge of the glass and under the trim molding for evidence of rust. Rust will spread under your paint, it is amazingly aggressive.

If the rust spreads to the “pinch weld” which is where the urethane is placed, the urethane will not bond and a windshield will leak or can even be pushed out. This can cause thousands of dollars in damage from water leaks or can even can cause death in an accident! If the rust moves into this area the technician must remove it before applying the urethane, or the vehicle must be sent to a body shop for repair.

Make sure the technician takes steps to prep and repair scratches to the pichweld. There is primer paints, metal rust prep chemicals, and other ways to cover scratches to reduce the appearance or spread of rust. The most important areas are where water will contact your vehicles body, especially under the exterior trim molding. That trim is not water sealed between the body and glass. The water seal comes from the urethane bead.

It is very important that you watch the installation of your vehicle glass if possible, DO NOT just walk away. If a professional technician can not perform the job while you watch, they shouldn’t be working on your vehicle and call someone else. A technician can cause significant paint scratching to your exterior paint job with improper techniques. Some even use nail polish or paint to hide the damage. Some even rub dirt into the scratch to make it look old! Ensure that the technician is using vehicle protective equipment like seat covers, floor mats, tape on the car body where it’s close to the glass, and a protective mat over your hood.

Make sure the technician removes body parts like windshield wiper arms and the cowling (located beneath the wipers) are removed, if the glass edge is covered by these parts. Most technicians will simply shoot a ton of urethane under the cowling area and “stuff” the glass, sliding it into the glue and under the cowling. This is extremely unsafe! A technician doesn’t even know if the urethane has created a proper seal, or if it is bonded safely. A proper windshield installation requires that the glass be place straight down onto the urethane bead. Also this ensures the urethane is not shot all over parts beneath the cowling like wiper assemblies and wiring.

OEM Windshields and OEM Equivalents

OEM means, original equipment manufacturer. So if your vehicle is a Honda Civic, OEM glass would be purchased from a Honda Vehicle Dealer. Auto glass installers can simply order OEM glass from the dealer. Make sure the glass has the OEM label. The windshield label which is about a square inch in size, normally is located in the lower corners of the glass. Sometimes OEM glass says the actual glass manufacturer rather than the Car Dealer name. Call your local dealer on what to look for.

A lot of auto glass companies will tell you they are installing the “OEM Equivalent” part. Because consumers don’t know what to look for, most times a glass with no label or an aftermarket part is used. Do not buy a glass when the label has been etched or removed. No one knows where it came from! Always check the label.

The only scenario in which you may find an equivalent glass, is purchasing a windshield produced by the same manufacturer which produced the OEM glass. It may even be from the same production line and mold from the OEM manufacturing!

Aftermarket Automotive Windshields

Do not be fooled into thinking an aftermarket windshield is the same as an OEM glass. Aftermarket windshields are made using reverse engineering instead of the original OEM mold and production line.

Aftermarket glass tends to have more visible light distortion when viewing the glass at an angle, and the dimensions are not exactly the same as an OEM. All glass that is bent has some level distortion yes, but it is considerably worse with aftermarket manufacturing. You may even see distortion when looking straight through aftermarket glass.

Aftermarket glass is transported through different processes than OEM glass from a dealer. A lot of OEM glass is transported covered by plastic wrapping and using strict shipping techniques, and the windshield’s edges are protected by foam wrapping. But Aftermarket glass is transported by much different practices. Most auto glass companies use no protection covering all surfaces of the glass for transport. And sometimes pieces of glass have been taken to customers locations and returned to the distributor or shop. So aftermarket glass has been handled many times!

Now I’m not saying aftermarket glass is unsafe or unfit to use at all. I’m simply stating the facts about the truth, for your education and insight. I feel you should be educated about this part of your vehicle which essentially protects your family on a regular basis.

Rain Sensors and Other Accessory Plugs Such as Heated Glass

If your vehicle has a rain sensor it should be located near the rear view mirror. A lot of times it looks like a circle, square or triangle. This option allows the windshield wipers to speed up or slow down depending on the amount of rain automatically. Make sure you get the same designed glass. If the rain sensor involves a gel patch, make sure the technician does not leave lots of air bubbles when installing it. Those air bubbles can cause the sensor to malfunction.

Some vehicles like a Land Rover, have plugs located under the interior a-pillar trim. On some convertibles like a newer Ford Thunderbird, a large portion of the interior may need to be diss-assembled to remove the interior a-pillar trim. On the Honda Ridgeline, the heater plug is located behind the glove box. Some new vehicles also have Lane Departure sensors located near the rear view mirror.

You can always find out what you need by calling your local dealer and giving them your VIN Identification number from your vehicle. If your car is important to you and you want to maintain the investment, always call your local dealer and ask for advice about your specific vehicle.

Windshield Shade Bands and Windshield Color

All auto glass has a shaded color. No windshields are completely clear. Typical shading colors are blue, green, bronze, and grey. Be sure sure to get the same color. You will see that all pieces of glass in your vehicle are the same color, excluding privacy glass and tinting.

A windshield may have a shade band across the top near the roof of the vehicle. This area is preferential. You should decide if you like it or not. It does tend to hide the edge of the interiors headliner when looking at the vehicle from the exterior. Shade bands do come in different colors but not all windshields

Most windshields can be ordered without a shade band at all. But you may find the part is actually more expensive because less people order it. Having a shade band does provide some shading in between your sun visors but it does little to drastically shade the sun. Take note the shade band will be darker at night.

Exterior Trim and Moldings

Your vehicle may have exterior trim or moldings cover the edge of the glass and/or covering the edge the car body. If the trim molding is just rubber, make sure you know what the technician is using to replace it. Some companies are now requiring that technicians use only a universal type aftermarket molding, rather than one that is specifically designed for your car. There should also be an OEM molding part available which is exactly the same as your original molding. Do note that cost for OEM is always more.

You may see plastic and/or metal trim moldings covering the edge of your windshield on the exterior. Normally these have some type of plastic or metal clips that attach them to the glass or vehicles body. Make sure the company replaces any broken clips or parts from removal of these parts. If your vehicle is older than 3 years, these parts become very brittle and damage easy. You may be warned about parts that always break, in which the company may request you also purchase that part ahead of time. You may find a lot of companies simply glue those parts back into place, rather than replacing the broken parts.

Vehicle Windshield Logo and VIN Window

On vehicles like a Ford Mustang and Ford F150, you may have a logo in the third visor above the rear view mirror. These windshields can be ordered with out the logo and are cheaper that way. Make sure you ask about your options.

Most windshields have a small narrow window for viewing of the VIN identification number near the lower drivers side portion of the glass. Make sure this window is in the right location on the glass. When the job is completed, make sure that glue has not covered the VIN, the VIN number plate has not been cut off, or that it has not been badly damaged. Police or the DMV will give you a hard time if the number is not legible or is completely missing from that location.

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Source by Tim Lee Doyle

A Look at the Magnacharge System For Electric Cars

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There are two principal ways to charge the batteries of an electric car: you can use the ordinary AC outlet at hoe or use a commercial charging system purposely built for the electric car.

Of all commercial electric car battery charging systems, the Magna-Charge system is the most common and widely used. They are manufactured by Magnacharge Battery Corporation, one of the world’s leading high power battery charging systems developers. The company was created in 1964 and has since produced many innovative charging systems across the world. Magnacharge Battery Corporation specializes in deep cycle batteries for golf carts and has about 80% share of the market.

We now take a look at how the Magnacharge System works.

The assembly looks much like the regular gas station fuel dispense except that where we have nozzle, the Magnacharge System has a plug. The machine is erected upright and sometimes only a small part of the front can be seen. It is usually mounted into a wall.

The Magnacharge System has a 240V 40 AMP circuit system that enables it to charge the batteries faster than the ordinary home AC outlet.

When you send the electric car for charging, the paddle will fit into the battery terminal outlet usually hidden behind the rear license plate. Once connected, power is transferred from the Magnacharge System to the car’s batteries.

The paddles and all other companies of the Magnacharge System are insulated so there is no risk of shock from exposed parts.

The Magnacharge System has one advantage over many charging systems. It has the equalization feature that allows weaker cells to slow charge till they equal the amount of energy into strongest one before quick charging begins. This way, the already strong cells are not instantly overcharged.

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Source by Jim Crow

Types of Foreign Currency Hedging Vehicles

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The following are some of the most common types of foreign currency hedging vehicles used in today’s markets as a foreign currency hedge. While retail forex traders typically use foreign currency options as a hedging vehicle. Banks and commercials are more likely to use options, swaps, swaptions and other more complex derivatives to meet their specific hedging needs.

Spot Contracts – A foreign currency contract to buy or sell at the current foreign currency rate, requiring settlement within two days.

As a foreign currency hedging vehicle, due to the short-term settlement date, spot contracts are not appropriate for many foreign currency hedging and trading strategies. Foreign currency spot contracts are more commonly used in combination with other types of foreign currency hedging vehicles when implementing a foreign currency hedging strategy.

For retail investors, in particular, the spot contract and its associated risk are often the underlying reason that a foreign currency hedge must be placed. The spot contract is more often a part of the reason to hedge foreign currency risk exposure rather than the foreign currency hedging solution.

Forward Contracts – A foreign currency contract to buy or sell a foreign currency at a fixed rate for delivery on a specified future date or period.

Foreign currency forward contracts are used as a foreign currency hedge when an investor has an obligation to either make or take a foreign currency payment at some point in the future. If the date of the foreign currency payment and the last trading date of the foreign currency forwards contract are matched up, the investor has in effect “locked in” the exchange rate payment amount.

* Important: Please note that forwards contracts are different than futures contracts. Foreign currency futures contracts have standard contract sizes, time periods, settlement procedures and are traded on regulated exchanges throughout the world. Foreign currency forwards contracts may have different contract sizes, time periods and settlement procedures than futures contracts. Foreign currency forwards contracts are considered over-the-counter (OTC) due to the fact that there is no centralized trading location and transactions are conducted directly between parties via telephone and online trading platforms at thousands of locations worldwide.

Foreign Currency Options – A financial foreign currency contract giving the buyer the right, but not the obligation, to purchase or sell a specific foreign currency contract (the underlying) at a specific price (the strike price) on or before a specific date (the expiration date). The amount the foreign currency option buyer pays to the foreign currency option seller for the foreign currency option contract rights is called the option “premium.”

A foreign currency option can be used as a foreign currency hedge for an open position in the foreign currency spot market. Foreign currency options can also be used in combination with other foreign currency spot and options contracts to create more complex foreign currency hedging strategies. There are many different foreign currency option strategies available to both commercial and retail investors.

Interest Rate Options – A financial interest rate contract giving the buyer the right, but not the obligation, to purchase or sell a specific interest rate contract (the underlying) at a specific price (the strike price) on or before a specific date (the expiration date). The amount the interest rate option buyer pays to the interest rate option seller for the foreign currency option contract rights is called the option “premium.” Interest rate option contracts are more often used by interest rate speculators, commercials and banks rather than by retail forex traders as a foreign currency hedging vehicle.

Foreign Currency Swaps – A financial foreign currency contract whereby the buyer and seller exchange equal initial principal amounts of two different currencies at the spot rate. The buyer and seller exchange fixed or floating rate interest payments in their respective swapped currencies over the term of the contract. At maturity, the principal amount is effectively re-swapped at a predetermined exchange rate so that the parties end up with their original currencies. Foreign currency swaps are more often used by commercials as a foreign currency hedging vehicle rather than by retail forex traders.

Interest Rate Swaps – A financial interest rate contracts whereby the buyer and seller swap interest rate exposure over the term of the contract. The most common swap contract is the fixed-to-float swap whereby the swap buyer receives a floating rate from the swap seller, and the swap seller receives a fixed rate from the swap buyer. Other types of swap include fixed-to-fixed and float-to-float. Interest rate swaps are more often utilized by commercials to re-allocate interest rate risk exposure.

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Source by John Nobile

Are Minimum Credit Scores Needed for a Car Loan?

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Every lender has its own criteria for judging whether or not they would consider a borrower credit worthy. So, minimum credit scores to get a car loan do not meet rigid cutoff points. Look at some general scores to get an idea of how you will be treated when you embark on your auto loan shopping journey.

The Minimum Truth

The important thing to consider when you shop for your car loan, is that the higher your credit score, the less you will pay for your car loan and the more money you will save. This is the minimum truth regarding credit scores and auto loans.

Starting From the Top

Credit scores range from 300 to 850. Around 725 is the average score across the population. A score around 300 is usually indicative of a bankruptcy. If you have a score over 680, you will not have any trouble finding a car loan and you will be offered the best interest rates. In spite of advice against getting a loan through a dealer, you may even find a good loan in those circumstances.

Next Rung on the Ladder

You will still have no trouble finding a loan if your credit score ranges from 650 to 680. You may not get the best interest rates, but you will still be able to find a decent loan. If you were going for a mortgage, a high-end auto loan, or some other large purchase, before you make an application, you might want to figure ways to improve your score to save yourself a substantial amount of money.

Bring Up Your Minimum

If your scores range between 500 and 600, you are not in the best position for a good car loan. You might want to put off borrowing for a while and definitely work on improving your credit score. If you are in the high 500’s you will probably find financing but your interest rates, fees, and monthly payments will be rather steep.

Scaling Down

If you range in the low 500’s you will have to work to find a lender, but you can always find something. You may end up paying more in interest than the car is worth. This would be a good time to scale down to perhaps a good used vehicle. Save some money on the side, improve your credit scores, and you may be ready for your dream car in a few years.

A Minimum Credit Score for a Auto Loan?

If your score dips below the 500 mark, you may want to consider putting off borrowing for awhile. Sure, you will be able to find a loan, but your interest rates are going to be over the top and you might be under the burden of that car loan for a very long time.

No Real Minimum Credit Score for a Car Loan

As you can see, there is no real cut-off minimum credit score to get a car loan. There are ranges that indicate the success of finding a decent car loan, but no real across-the-industry demarcations. Regardless of your credit score, you must diligently shop to find the rates and terms most agreeable to your financial situation.

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Source by Kate Ross

Everything You Ever Wanted To Know About Magnets

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Magnets are objects made from materials that are capable of stimulating magnetic reactions. Such reactions are created with the presence of a magnetic field. Examples of these materials are copper, iron, and steel.

The atoms of magnetic materials are arranged in units called domains. A domain is actually a set of numerous atoms that act like a small magnet. If the domains are placed against a strong magnetic field, they are made to move the way the magnetic field does. These domains tend to pull each other together, aligning themselves to become a strong magnet.

The concept of magnetism was first explored by a scientist named William Gilbert. He was the first one to realize that the planet earth is indeed a large magnet. He was also able to discover that magnets can be formed by using twisted iron. After him, a scientist named Hans Christian proved that there is indeed a relationship between electricity and magnetism.

There are basically three types of magnets: temporary magnets, permanent magnets, and electromagnets. Temporary magnets are those materials that elicit magnetic reactions when placed in even weak magnetic fields. However, these materials lose such reactions once the magnetic field is removed. Examples of these materials are Permalloy and soft iron. Permanent magnets, on the other hand, are those that exhibit magnetic properties even without the presence of magnetic fields. Examples are ferrites and alnico.

Meanwhile, electromagnets are built when large magnets are required to perform certain tasks. These magnets are made by placing a metal core inside a coil of wire that carries an electric current.

Today, magnets are used in several kinds of equipment, such as electric motors and generators. Temporary magnets, meanwhile, are used in telephones and televisions. Electromagnets are used in large vehicles like the Maglev train. This type of train operates without wheels. It moves by using a magnetic reaction between the track and the lower portion of the train.

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Source by Marcus Peterson