General Motors Hywire concept

Hey friends,
It is the new Generation Concept Car with a flat bed. It will take the automobile industry to a new era. Just check out this cool link and get elightened.
General Motors Hywire concept From URL : http://archive.cardesignnews.com/autoshows/2002/paris/preview/gm-hywire/

GM Hy-wire concept to debut at Paris Motor Show
Click for larger images 'Skateboard' chassis concept demonstrated in the AUTOnomy concept at the 2002 North American Interational Auto Show AUTOnomy at the 2002 North American Interational Auto Show AUTOnomy at the 2002 Geneva Motor Show Bertone Filo with Drive-by-wire system by SKF, at the 2001 Geneva Motor Show	Feb 26, 2002 - August 14, 2002 - General Motors has revealed a first look at Hy-wire, the first drivable vehicle that combines a hydrogen fuel cell with by-wire technology. Hy-wire incorporates the features first envisioned in the AUTOnomy concept vehicle at the 2002 North American International Auto Show in Detroit and the Geneva Motor Show. Hy-wire will be introduced to the public at the Paris Motor Show September 26. "The fact that we developed Hy-wire as a drivable concept vehicle in just eight months (from its introduction in Detroit) shows our commitment to this technology and the speed at which we are progressing," said Rick Wagoner, GM's president and CEO. "With AUTOnomy, GM shared a vision. Hy-wire accelerates our progress with a functional proof of concept which strengthens our confidence in our ability to gain marketplace acceptance of production fuel cell vehicles." Larry Burns, GM's vice president of research and development and planning, said, "We are driving to have compelling and affordable fuel cell vehicles on the road by the end of the decade. With Hy-wire, we have taken the technology as it exists today and packaged it into an innovative drivable vehicle comparable in size and weight to today's luxury automobiles. "All of the touring sedan's propulsion and control systems are contained within an 11-inch-thick skateboard-like chassis, maximizing the interior space for five occupants and their cargo. There is no engine to see over, no pedals to operate - merely a single unit called X-drive that is easily set to either a left or right driving position." GM designers and engineers in the United States developed the vehicle chassis and body design, as well as the engineering and electrical system integration. Engineers at GM's research facility in Mainz-Kastel, Germany, integrated the fuel-cell propulsion system, which is the same system used in the HydroGen3 concept, based on an Opel Zafira and shown at the 2001 Frankfurt Motor Show. American designers also worked closely with Italian design house Stile Bertone in Turin, where the body was built. The SKF Group, headquartered in Sweden, developed the by-wire technology in the Netherlands and in Italy. "By combining fuel cell and by-wire technology, we've packaged this vehicle in a new way, opening up a new world of chassis architectures and customized bodies for individualized expression," said Chris Borroni-Bird, director of GM's Design and Technology Fusion Group and program director of the Hy-wire concept. According to Wayne Cherry, GM's vice president of Design, the chassis architecture provides designers the freedom to create a number of different body styles. "Until now, fuel cells and by-wire have been demonstrated as if they were an end in themselves," said Cherry. "But we look at this technology as enabling us to create a number of exciting new body styles for consumers to choose from. This is just the second interpretation of many to come." "Hy-wire is a luxury vehicle in the sense that it is a luxury to have the kind of space and visibility this car provides," said Ed Welburn, executive director of GM Design for Body-on-Frame Architectures. "The design is built around the fact that there is no engine compartment; the vehicle is very open from front to rear. This is intentional to highlight the openness in the interior and the range of possibilities." To show off this radically new architecture, the front and rear panels are made of transparent glass. Onlookers can see through the car from front to rear; the liberal use of glass and the absence of a hood also provide a greater visual command of the road for the driver. To reinforce this effect even the seat backs are open. There is no B-pillar between the front and rear doors. Drivers and passengers have greatly enhanced legroom. "The most dramatic view of this car may be from the driver's seat," Welburn said. "Imagine having no engine, instrument panel or foot pedals in front of you - an open, yet secure cockpit with a floor to ceiling view." The X-drive, which allows steering, braking and other vehicle systems to be controlled electronically rather than mechanically, provides greater freedom for the driver. Drivers now have the option to brake and accelerate with either the right or left hand. The driver accelerates by gently twisting either the right or left handgrip, and brakes by squeezing the brake actuator also located on the handgrips. The handgrips glide up and down for steering. The X-drive, which also incorporates an electronic monitor for vital car functions, shuttles easily from side-to-side on a horizontal bar that stretches across the full width of the vehicle. It provides another example of the extreme flexibility of the car's architecture. A single docking port provides the electrical connection between the all-aluminum chassis and the fiberglass body. Mechanically, there are 10 body attachment linkages. The fuel cell stack, which produces a continuously available power of 94 kilowatts, is installed in the back of the chassis. Most of the chassis is 11-inches thick, tapering to 7 inches at the edges. The electrical motor drives the front wheels and is installed transversely between them. Three cylindrical storage tanks are located centrally in the chassis. Hy-wire weighs 1,900 kilograms (4,180 pounds) with 20-inch tires in front and 22-inch tires in the rear. Putting all technical elements into the chassis provides a low center of gravity, giving the architecture both a high safety and driving dynamics potential. Passive safety requirements will be fulfilled using impact-absorbing elements, so-called crash boxes, at a later stage of development. "Most of the powertrain load has been evenly distributed between the front and rear of the chassis so there is a lower center of gravity for the whole vehicle, without sacrificing ground clearance," Borroni-Bird said. "This contributes to the overall safety of the vehicle by enabling superior handling, while resisting rollover forces, with the tallest body attached." GM has more than 30 patents in progress covering business models, technologies and manufacturing processes related to the Hy-wire concept.

Another Good Post about salary

Hey,
Here is a post about, "How to design a tax-smart salary package". It's again taken from Rediff @ URL: http://www.rediff.com/money/2007/may/25tax.htm

Here it goes :

How to design a tax-smart salary package
A N Shanbhag
May 25, 2007 13:32 IST

Corporate India is witnessing unprecedented growth. Consequently, the demand for savvy talent is also growing apace. In a bid to attract and retain the best people in their fold, companies are competing with one another in offering high salary with attractive perks.

Realising that the income tax takes away a good portion of the pay packet, and also that individual needs differ, companies often consult their employees in designing their own salary packages.

Here is a checklist to help you work out tax-smart salary and perk options:

Major tax-smarts

1. Interest paid on housing loan is deductible u/s 24 up to Rs 1.5 lakh (Rs 150,000) on self-occupied property, and without any limit on a rented out house.

2. The repayment of housing loan from specified sources is also deductible, irrespective of whether the house is self-occupied or given on rent within the overall ceiling of Rs 1 lakh (Rs 100,000) under Section 80C, taken together with contributions to other avenues under its umbrella.

3. Where the accommodation provided to the employee is taken on lease by the employer, the perk value is the actual amount of lease rental, or 20% of the salary, whichever is lower. Understandably, if the house belongs to a family member who is at a low or nil tax zone, the family benefits. Yes, the maximum benefit accrues when the rent is over 20% of the salary.

4. Chauffeur-driven motorcar provided by the employer has no perk value. True, the company would pay FBT (fringe benefit tax). It is @30% on 20% of the value, thereby bringing down the effective rate to 6%. Better still, if the employee owns the car and the employer pays the cost of petrol and maintenance.

5. Contributions up to Rs 1 lakh per annum to a Superannuation Fund (SAF) of the employee are not taxed, either as fringe benefit in the hands of the employer or as perk in the hands of the employee.

6. Contributions to certain specified schemes (Company PF, PPF, NSC, life insurance, etc.) qualify for a deduction u/s 80C from gross total income with an overall ceiling of Rs 1 lakh. PPF has a ceiling of Rs 70,000 to contributions made to the accounts of self and minor children whereas the contributions to accounts of self, wife and children (major or minor) attract the deductions.

7. Employer's contribution to Company PF in excess of 12% of an employee's salary is taxable. Employee contributes an equal (or higher) amount to his PF account. Again, any excess over 27% of salary contributed by the employer to Company PF and SAF put together is to be treated as a taxable perk.

8. Any death-cum-retirement gratuity received up to Rs 3.5 lakh (Rs 350,000) -- subject to certain conditions -- is tax-exempt.

9. Leave Travel Allowance (LTA) given as reimbursement of expenses incurred by the employee and his family for travelling while on leave is exempt, once in two years.

10. Transport allowance for commuting between residence and place of duty is exempt up to Rs 800 per month.

11. Reimbursement, not exceeding Rs 15,000 in a year, for medical treatment from any doctor for himself and his family members is tax deductible.

12. Under Section 80D of the Income Tax Act, a deduction up to Rs 10,000 paid as medical insurance premiums on the health of an assessee, the assessee's spouse, dependent children or parents is allowed. Where an individual has insured a senior citizen (dependent parent), a higher ceiling of Rs 15,000 is available.

13. Professional tax paid by a salaried employee (around Rs 2,500 p.a.) is deductible under Section 16(iii).

14. As a tax-smart strategy, the salary (basic + DA) should be low, the rest should come by way of such allowances on which the employer pays FBT; the employee, then, does not have to pay any tax thereon.

15. ESOP has been brought under the purview of FBT by Budget-07.

Other tax-smarts

In respect of HRA, the least of the following is exempt from tax under Section 10(13A):

(a). 40% of salary (50% for Mumbai, Kolkata, Delhi and Chennai).

(b). HRA for the period the house is occupied by the employee.

(c). The excess of rent paid over 10% of salary.

Please note that an employee who lives in his / her own house, or where s/he does not pay any rent, is not eligible for this exemption. If you are staying in a house belonging to your family members (preferably not your wife), start paying rent to the owner and ask for HRA from your employer.

• A helper engaged at home for the performance of the duties of an office or employment of profit is not considered as a perk.
• If the employer employs a gardener for the building premises belonging to the employer, it would not be treated as a perk. The possibility of it being extrapolated to other servants is logical.
• Perk value of concessional loan to the employee for purchase of house or motor cars shall be the difference between the interest payable calculated at the rate of interest for similar loans charged by SBI, and the actual interest charged.
• Loan for medical treatment specified in Rule-3A is exempt, provided it is not reimbursed under any medical insurance scheme. Where it is reimbursed, the perquisite value shall be charged from the date of reimbursement on the amount reimbursed but not repaid against the outstanding loan taken specifically for this purpose.
• Small loans from the employer up to Rs 20,000 in the aggregate are exempt.
• Expenses on meals provided to the employee during his hours of duty are not treated as perks.
• Employer pays FBT on the value of any gifts to an employee. Gifts up to Rs 50,000 in a year received without consideration by an individual from any person are tax-free in the hands of the donee. However, there is a risk that the IT Department may claim that such gifts are in lieu of salary.
• Employer pays FBT on the value of the facility of credit cards and expenses for the club.
• Where an employer transfers a movable asset to an employee directly or indirectly, the perquisite value shall be the actual cost to the employer minus the cost of normal wear and tear @10% for each completed year during which such asset was put to use. In the case of motor cars, the normal wear and tear would be @20% whereas in the case of computers, data storage and handling devices, digital diaries, printers, etc. it would be @ 60%. These do not include household appliances (i.e., white goods) such as washing machines, microwave ovens, mixers, hot plates, ovens, etc.
• Uniform allowance to meet the expenditure incurred on the purchase or maintenance of uniform for wearing during the performance of the duties of an office or employment of profit is exempt from tax.
• Expenses for soft furnishings (table linen, curtains, etc.), including their maintenance at the residence in the case of employees who entertain guests at home for official purpose are also exempt.
• Goods at concessional rates, membership of professional associations, subscriptions for technical and business journals and newspapers are not considered as taxable perks.
• Payment or reimbursement by the employer towards bills on telephones and cellular is not a perk.

Tailpiece

It is unlikely that good employers would add the FBT payable by them as a part and parcel of the pay package. For instance, take the case of chauffeur-driven car, which has a cost to the company of Rs 120,000. FBT has to be paid on 20% of this amount. The tax payable works out at Rs 7,416 (= 30.9% of 20% of Rs 120,000) only.

Excerpt from:

Taxpayer to Taxsaver (F.Y. 2007-08)

By A N Shanbhag

For Every Software Engineer > Salary: How to avoid getting 'CTCed'

Hey guys,
I'm back again after a long gap. Today, my friend mailed me this interesting article from Chandnee shah on rediff. I thought, it will be pretty usefull to you.
The URL is : http://www.rediff.com/money/2007/may/28perfin1.htm
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Salary: How to avoid getting 'CTCed'
Chandnee Sinha
May 28, 2007 12:05 IST

'If you pay peanuts, you will get monkeys,' goes an adage. These days with a shortage of good talent in the job market, the saying doesn't really hold true. Companies are willing to offer good salaries to the right candidates.

But even after this there are things that individuals should keep in mind while negotiating their salaries. What may look like an increase in salary may not lead to a real increase.

This is primarily because these days most companies quote annual salary packages they offer to their employees in terms of what is known as 'cost to company,' or CTC.

Cost to company is a term which essentially implies the amount of expenses the company will spend on an employee in a particular year. What may be an expense for the company need not be salary for the employee.

Hence very rarely does it happen that the CTC divided by the number of months in a year, i.e. twelve, comes down to the actual monthly salary that an individual receives.

Let's look at the various ways in which companies boost the CTC packages they offer to their employees.

a) Useless allowances: These days individuals get various kinds of allowances. The reason offered is that this brings down the taxable component of the salary. Fair enough. But at times some allowances are subject to producing bills.

Let's take the case of mobile allowance that companies offer. An individual has a mobile allowance of Rs 3,000 per month. He will get that money only if he runs up a bill of Rs 3,000 during the month. Now if the individual does not really use this to the hilt, and usually gets a bill of around Rs 1,200 a month, then he faces a clear loss of Rs 1,800 in a month. This amounts to a loss of Rs 21,600 during a year.

So while negotiating the CTC packages individuals should beware that companies are not stuffing up the CTC with such allowances, which he or she may never be able to claim.

b) Food coupons: Food coupons are the rage these days with companies. The primary reason is that this helps bring down the taxable component of the salary. Food coupons, up to a maximum of Rs 60,000 in a year, are non-taxable.

But having this as a part of the salary may or may not suit everybody. If you are single and don't cook at home, then there is hardly any way that you are going to use them.

Some companies offer subsidised food to their employees. This subsidy is also at times added to the CTC salary. By doing this the subsidy does not remain a subsidy, the employee is actually paying for it.

c) Interest subsidy: This trick is a favourite with private sector banks recruiting fresh candidates. Let's see how this works.

The bank may promise a candidate a maximum loan of Rs 10 lakh (Rs 1 million) to a candidate during a year at a favourable rate of 3% per annum. The interest subsidy the candidate receives is directly added onto the CTC package.

What this means is that if an individual after joining the bank were to take a loan from the bank of Rs 10 lakh, he would pay an interest of Rs 30,000 (3% of Rs 10 lakh) in the first year. If he had taken the same loan at a market rate of, let us say, 12%, then he would have paid an interest of Rs 120,000 during the first year.

The difference between the two interests amounts to Rs 90,000 (Rs 120,000 - Rs 30,000). This is known as the interest subsidy and added to the CTC package. The issue that arises here is that an individual may not want to take the loan of Rs 10 lakh. Or he might take a part loan. And even if he does take the entire loan, with the interest subsidy being added to the CTC, he is paying a market rate of interest.

d) Variable salary: These days companies also offer a variable component in the salary subject to the candidate reaching certain set goals during the course of the year. Usually the maximum possible variable salary that an employee can get in a year is added onto the CTC.

Achieving this may or may not be possible. Currently this may not matter much because the Indian economy is doing well and individuals may be able to achieve their high targets.

e) Gratuity: At times even gratuity gets added onto the salary. Now this is a payment that an employee gets only if he quits after having spent at least five years in an organisation. Going by the rate at which individuals change jobs these days, it's been a long time since one heard anyone getting a gratuity.

f) High leave travel allowance (LTA): This is another standard trick that organisations use. The leave travel allowance usually is paid to an employee with the salary of the last month of a financial year. So this financial year's leave travel allowance will be paid along with the salary of the month of March 2008, nearly 10 months from now.

Even though an individual gets the amount in the end, he will lose interest on that amount had he chosen to invest it, if he got the amount month on month.

For a company this makes utmost sense, because they don't have make a payment month on month and can earn an income from investing that amount.

WYSIWYG (pronounced Wizwig) is an acronym commonly associated with computers and stands for 'What you see is what you get.' Now that is certainly not true of CTC salaries.

The simplest way for individuals while negotiating salaries is to clearly ask what the take home salary at the end of the month is going to be.

Imperative Statement of my Life

Today, the May 5th 2007, when I first opened my mail box, bang ! there was a wonderful mail qouting one of the most wonderful comments of my life....
It read something like this....
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You are Rich or Poor in life by...
Smiles around you.
Friends you make.
People you are with.
Ideas you have.
Dreams you chase.
Love you spread.

How rich are you now ?
- Anonymous
{Picked from www.pravsworld.com}
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How true is this statement ? Some times, I feel, we forget ourselves in the glittering tout that we are doing about ourselves. We forget the sweet memories that we had with our loved ones, we forget relationship, we forget friends. Even we forget to wish our friends a costless/effortless "Hi" or a smile. What am I chasing after all ? the 'Happiness'. Am I not happy now ? If not why is it so ?

I wanted to get the job in an MNC with good salary. Is it not there ? It is there and is more than what you expect. But, still what is that your mind still searching ? What is that you want to attain ?

When is this frenzy-inordinate behaviour to happiness going to come in your life ? Till what time you can keep yourselves away from the ecstacies of this life ?

You have become a wimp! You are rejecting the happiness, each time you see your friend/colleague growing. You are just cuddling the venomous hatredness which will not only destroy all your happiness, but also, will destroy you as a human being.

Find happiness in whatever you have, whatever you do, whatever you are given... whatever you are as a human being.

As Lincon had told "Before you ask some one what he has given to you... ask yourselves what you have given to him...."... See how you can make your nearest and dearest feel good.....

Then, only, you can feel the richest person in this world!
You will still be poor, even after earning billions, if you don't do these simple things of life.


Disclaimer : All the comments below/in my blog are my views only. They are not written with an intention to hurt any ones Emotions or his personality.