My finance view

About five years ago, I went to a talk by auto analysts who said Korean manufacturers are starting to worry their Japanese neighbors.

If that was true then, arrivals such as Hyundai’s 2011 Sonata now must be keeping execs up at night. The sixth-generation sedan raises the bar yet again for the Korean automaker with a roomy, smooth riding, well-equipped and neatly finished car priced below Japanese rivals. Not only that, but our Venetian red tester caused a number of double-takes with its stylish look.

The base Sonata GLS starts at $19,915, about $500 more than the 2010. That includes power, heated, folding side mirrors; chrome-tipped exhaust; air conditioning; steering-wheel controls for audio and Bluetooth systems (including phonebook download); power windows; remote locking; cruise control; and audio system with six speakers, CD player, XM and MP3 compatibility, iPOD and USB ports.

On the safety front you get antilock brakes with emergency assist feature, side airbags and curtains, traction and stability control, and tire-pressure monitor.

That price is about two thousand less than the Honda Accord, which along with the Sonata, ride at the larger end the midsize group. The smaller Toyota Camry comes closer in price, but isn’t quite as well equipped.

The base versions of all those cars come with 4-cylinder engines and manual transmissions, which means most people will upgrade. In the case of the Hyundai, you get a 2.4-liter engine rated at 198 or 200 horsepower matched to a six-speed manual or automatic transmission. The latter adds $1,000 to the tab.

The standard 4-cylinder gets a little buzzy when you tromp hard on the accelerator. But after a few days behind the wheel, I found it plenty powerful, even fun to drive. The 4-cylinder returns decent fuel economy 22 miles per gallon in the city, 34 on the highway with the automatic.

That’s the only engine available initially, but Hyundai has a 274-horsepower 4-cylinder turbo (expected to deliver mileage at 22/34) and a hybrid estimated at 37/39 in the pipeline.

We tested the mid-level SE, which starts at $23,315, adding the automatic, bigger alloy wheels, sportier suspension, fog lamps, dual exhaust, push-button starter, leather trim, eight-way power driver’s seat, steering-wheel-mounted shift paddles and automatic headlamps instant payday loans.

The sedan made a good first impression. Its coupe-like profile looks sharp on approach. I got in with our editor and managing editor for the first time after deadline. Randi checked out the window sticker and asked us to guess the price. I said $27,000, Ilana $30,000. Looking around at the neat fit and finish, quality materials, roomy surrounds, I said $27,000, Ilana, $30,000 – both well over the real price of $23,315.

Randi wished for a sunroof, which is available as part of a $2,600 package that also includes navigation. Only Ilana had a complaint. Pointing at the stick-figure-shapped buttons that control air-flow directions she said, “That’s cheesy, I wouldn’t buy it just because of that.”

I thought the buttons were OK, even intuitive, but I would have made it smaller and the radio controls larger. Others thought it was a little cheesy too, but certainly not a deal breaker.

All in all, the new Sonata is an impressive car offering a lot for the money. In other words, Hyundai is coming on strong in the race to catch perennial top sellers Camry and Accord. Consider stats at autos.aol.com: No. 1 Camry sold 28,435 cars in June, a 7.7 percent increase, and while Hyundai sold 17,711 Sonatas to take seventh place among all sedans, that represents a nearly 49 percent increase over June 2009.

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Despite a mixed performance on Friday, stocks booked the best monthly gain in a year, with the Dow Jones industrial average and S&P 500 both rising nearly 7% in July.

Stocks were supported this month by strong quarterly financial results from major U.S. companies. About 75% of the roughly 300 companies in the S&P 500 that have reported earnings so far have beat analysts’ estimates.

But the earnings optimism has been tempered by ongoing concerns about the economy, particularly worries that tepid job growth will eventually undermine corporate profits.

"Even though earnings and guidance have been better than expected, there’s still skepticism in the market because jobs have been missing in action," said Alec Young, an equity strategist at Standard & Poor’s.

Friday’s session was choppy, as investors weighed mixed reports on U.S. economic growth, consumer confidence and regional manufacturing activity.

The Dow Jones industrial average (INDU) fell 1 point, or less than 0.1%. The S&P 500 (SPX) index fell less than 1 point and the Nasdaq (COMP) composite gained 3 points, or 0.1%.

The rally this month came after stocks had drifted lower since April as investors grappled with concerns about the debt crisis in Europe and signs the recovery in the U.S. economy will be sluggish.

Stocks slipped Thursday as cautious comments from a regional Federal Reserve president about the health of the economy spooked investors.

Looking ahead, Young said the market could push higher late next week if the government’s July employment report comes in better than expected on Friday. Economists believe the report will show employers cut 160,000 jobs in July after a loss of 125,000 the month before.

Economy: Gross domestic product, the broadest measure of the nation’s economic activity, rose at a 2.4% annual rate in the second quarter, down from an upwardly revised 3.7% in the first quarter.

Economists surveyed by Briefing.com had expected GDP to show an annualized rate increase of 2.5%.

It was the fourth straight quarter of growth, and seemed to back some economists’ views that the recession that began in December 2007 ended at some point in the middle of 2009. But the report indicated that consumer spending, which drives the bulk of U.S. economic activity, remained weak.

Separately, the Reuters-University of Michigan Consumer Sentiment index fell to 67.8 in July from 76 the month before. While the index reflected how nervous consumers were about the economy and job market, the decline was slightly smaller than expected. Economists had expected the index to fall to 67.5.

The Chicago PMI, a regional reading on manufacturing, rose more than expected in July. The index rose to 62.3 this month from 59.1 in June. Economists were expecting a reading of 56.3.

Earnings: Chevron (CVX, Fortune 500) posted second-quarter results that topped forecasts and said profit tripled in the quarter. Shares rose about 0.1%.

Merck (MRK, Fortune 500) reported earnings per share that beat analysts’ expectations, even as net income fell 52% on acquisition costs. Sales growth, however, fell short of expectations. Shares fell 1.5%.

Companies: Walt Disney (DIS, Fortune 500) said early Friday it will sell Miramax Films for about $660 million to an investor group, Filmyard Holdings.

World markets: European stocks ended the day mixed. The CAC 40 in France fell 0.2%, while Germany’s DAX gained 0.2%. The FTSE 100 in Britain fell more than 1%.

Asian markets finished lower. The Shanghai Composite fell 0.4% and the Hang Seng lost 0.3%, while the Nikkei in Japan tumbled 1.6%.

Currencies and commodities: The dollar was up versus the euro, but down against the British pound and the Japanese yen.

U.S. light crude oil for September delivery rose 59 cents to $78.95 a barrel.

COMEX gold’s December contract gained $12.70 to $1,183.90 per ounce.

Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.91% from 2.99% late Thursday. Bond prices and yields move in opposite directions.

How much of a hit did you take in the recent correction? Are you worried about a bear market? What changes have you made in your portfolio and what changes do you plan on making for the rest of the year? E-mail your story to realstories@cnnmoney.com and you could be featured in an upcoming article. For the CNNMoney.com Comment Policy, click here. 

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Citigroup said Thursday it would pay $73 million to settle charges by the Securities and Exchange Commission that the bank, as well as two of its executives, misled investors about the company’s exposure to the subprime mortgage market.

Wall Street’s top regulator said Citigroup repeatedly made misleading statements in investor presentations and in public filings about the actual size of assets it controlled that were backed by subprime mortgages.

Between July and mid-October 2007, the company maintained its holdings of what have now been dubbed "toxic assets", stood at $13 billion, when in fact the number was closer to $50 billion, according to the SEC.

"The rules of financial disclosure are simple — if you choose to speak, speak in full and not in half-truths," Robert Khuzami, director of the SEC’s Division of Enforcement, said in a statement.

Also charged in the case were two Citigroup executives, including former chief financial officer Gary Crittenden and Arthur Tildesley, Jr., who currently serves as the head of cross marketing at the company.

Crittenden agreed to pay $100,000 to settle the charges while Tildesley, the former head of investor relations, agreed to pay $80,000.

In a statement issued Thursday, Citigroup stood behind the men, calling them both "highly valued" employees.

"We are pleased that we have reached agreement with the SEC to put this matter concerning certain 2007 disclosures behind us, and that the SEC is not charging Citi or any individual with intentional or reckless misconduct," the company said in a statement.

Citigroup neither admitted or denied the SEC’s allegations. But Thursday’s settlement is the federal agency’s latest attempt to crack down on fraud and misbehavior on Wall Street during the crisis.

Earlier this month, the SEC struck an agreement with Goldman Sachs (GS, Fortune 500). The company agreed to pay $550 million to settle charges that the company defrauded investors in the sale of an investment tied to subprime mortgages.

Citigroup (C, Fortune 500) stock edged higher in afternoon trading Thursday. 

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Former Federal Reserve chief Alan Greenspan believes Congress should let the tax cuts enacted by President George W. Bush expire for all Americans in order to address the widening deficit, according to a TV interview airing Friday.

"They should follow the law and let them lapse," Greenspan told Bloomberg TV’s Judy Woodruff.

The 2001 and 2003 tax cuts are due to expire at the end of the year. President Obama had promised to make them permanent for families making less than $250,000. (Read ‘Bush tax cuts up in the air’)

But faced with growing fiscal challenges, there’s debate in Washington about whether the country can afford to permanently extend the tax cuts.

Greenspan, who backed the tax cuts when they were enacted, told Woodruff that allowing the cuts to lapse "probably will" slow growth, but that the risk posed by doing nothing about the deficit is greater.

"I think we misunderstand the momentum of this deficit going forward," the former Fed chairman said in the interview. 

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The outlook for the global refining and marketing sector has been upgraded to “stable” from “negative,” according to rating agency Moody’s Investors Service.

Though the agency expects conditions to remain difficult, margins for the sectors will average “significantly higher” over the next 12 to 18 months.

Moody’s says distillate and gasoline inventories remain very high, though gasoline demand will be dogged by high unemployment, rising ethanol use, rising world refining capacity, and the economic slowing in major economies.

“In the absence of clear-cut strong demand and margin momentum for gasoline, distillate and crude oil price differentials, our stable outlook largely reflects that the mix of wider gasoline and distillate margins, and wider crude oil price differentials we’ve seen, supported by firming demand from industrial and freight transport will average out to support a stable outlook,” said Andrew Oram, vice president and senior credit officer with Moody’s corporate finance group payday loan lenders.

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Laguna Development Corp. unveiled an additional $15 million in expansions and updates at its Route 66 Casino in the past week.

The company opened the new Thunder Road Steakhouse & Cantina, the 360 Lounge, and added more than 200 new slots, bringing its total to 1,700.

It is the culmination of a larger expansion that firm unveiled over the past several months, including an Irish-themed poker room and pub, a new players club, bingo room and snack bar.

Skip Sayre, director of marketing for Laguna Development, said extensive customer surveys found players wanted a steakhouse, more slots and a non-smoking section.

Thunder Road was influenced by the movie of the same name that starred the late Robert Mitchum. It offers a wide selection of tequilas, as well as barbecue and Mexican dishes. The decor features life-sized cars crashing through walls, neon signs and two-story murals electronic check payday advance. A live entertainment stage, lifted on hydraulics from behind the bar, is another new feature.

This is the third major expansion at Route 66 since 2007. In 2008, a $40 million hotel expansion took place. The Main Street Restaurant, KXX Night Club and Kids Quest, as well as the $4.6 million Buffet 66 opened in 2009. Laguna also renovated its Dancing Eagle Casino last year, to the tune of about $3.9 million, adding 100 more slot machines and a new restaurant and lounge.

Laguna Development Corp. is a wholly owned subsidiary of the Pueblo of Laguna, whose lands are located mostly east of Albuquerque.

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Temperatures will heat up again Tuesday and continue right through the middle of the week before some cooling and potential rainfall appears in the forecast.

The National Weather Service forecasts highs of around 90 or a little higher through Thursday and leads to a few reminders about the range of temperatures away from lakes Erie and Ontario and air quality payday loan.

For those wondering, the record high for July 6 in Buffalo was 97 degrees in 1988 and the normal high for this date is 79 degrees.

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You retired. But that was then. Now things have changed, and you want — or need — to return to the workforce. Jumping back in may seem daunting, but it doesn’t have to be, says Age Wave CEO Ken Dychtwald, an expert on boomers and aging. The challenge of finding a job — again — isn’t just about the mechanics, like writing a résumé for the first time in years or convincing a potential employer that you’re a better hire than the perky young college grad he just interviewed. It’s also about altering your mindset and realizing that this may be a new beginning. Here’s Dychtwald’s advice on how to make your way back onto a company payroll without too much stress.

Reframe what work means

Having to go back to the office when you dreamed for years about puttering in your garden or volunteering can be frustrating, even depressing. But retirement isn’t all it’s cracked up to be either. For most productive, well-educated men and women, an average of 25 years of "leisure" can be terribly isolating and boring; returning to work may turn out to be a blessing after all. Remember that work is good not only for the cash flow but also keeping the mind and spirit sharp.

Don’t play the youth game

This is an area where people make a lot of mistakes Payday Loan for Bad Credit. They dye their hair (if they have any), get some hip, new, young clothes — even though they might not fit — and try to use the jargon and style of youth. That doesn’t work. A better idea: Go on the offensive and sell yourself as a mature person. Stress your capacity to make smart decisions, your good judgment in managing people, your contributions in brainstorming and business development, and your lifetime connections. This is your advantage.

Target industries with older clients

70% of all money in banks is held by people over 50. That’s an example of an industry that’s finally coming to realize that a 60-year-old client might actually appreciate dealing with a 60-year-old banker. Other sectors likely to welcome a more mature approach: adventure travel, luxury cars, lifelong learning, or retail.

–A psychologist, gerontologist, speaker, and author of 16 books, Ken Dychtwald, CEO of Age Wave, advises large companies on developing products and services for the aging population. 

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Just a few months after putting its Buffalo headquarters up for sale, the Girl Scouts of Buffalo and Erie County have found a buyer for their Jewett Parkway complex.

The Hillside Family of Agencies, a not-for-profit that serves youth and others in Erie and Niagara Counties, has agreed to purchase the Girl Scouts headquarters. A formal announcement is due Friday afternoon.

The Girl Scouts, which is merging with three other regional Girl Scout councils, is relocating from Buffalo to a suburban site.

The Girl Scouts listed its Jewett Parkway headquarters, a 10,900-square-foot building located just a few blocks from the Darwin Martin House complex, for sale this winter with a $675,000 asking price. The building was listed by Paula Blanchard and Ed Woods from RealtyUSA.

The council has used the Jewett Parkway building as its headquarters since it bought the property in 1969, Approximately 40 people work in the building.

The decision to put the building on the real estate market was made as an outgrowth from the merger between the Girl Scouts of Buffalo and Erie County, Girl Scouts of Niagara County, Girl Scouts of Genesee Valley and Girl Scouts of Southwestern New York. The council now covers a jurisdictional area that covers nine counties and 6,700 square miles in a region that extends from Niagara and Erie Counties eastward towards Rochester.

The Girl Scouts of Western New York – the newly merged entity – serves more than 22,000 girls and a network of more than 10,000 volunteers.

Girl Scout officials said they needed a more central location.

Besides the 40 people who work in Buffalo, the council has more than 100 employees in offices it operates in Lockport, Jamestown, Rochester and Batavia.

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Wall Street’s key measure of volatility skyrocketed on Thursday, as all major stock indexes plummeted on concerns about the European debt crisis.

The CBOE Volatility (VIX) index, or the VIX, jumped 31.2% to 46.35, after surging as high as 46.37 earlier in the session.

Stocks fell sharply, with the Dow Jones industrial average (INDU) plunging more than 200 points, or 2.7%, after sinking as much as 328 points earlier in the session.

Year to date, the VIX has risen 114%. It’s up more than 73% over the past five days alone. Just four weeks ago, the VIX was at a three-year low.

A VIX reading higher than 30 is considered a sign that investors are getting worried. But even at Thursday’s highs, the VIX is still way below the peak level of almost 90 hit in October 2008 — after Lehman Brothers collapsed.

Concerns about European debt have battered global stocks and spilled over into U.S. markets. The European Union and International Monetary Fund hammered out a $1 trillion European aid package, but that has failed to assuage worries payday loan lenders in states.

Some investors fear that even the massive bailout won’t be enough to contain debt problems from spreading throughout Europe. Earlier this month, riots in Greece turned deadly with protesters enraged over severe new government austerity measures.

Other countries, including Portugal and Spain, also announced budget cuts to avoid problems seen in debt-choked Greece — but investors worry that could hamper fragile recovery. Those fears sent the euro spiraling to a four-year low, which set off alarm bells for market participants.

European shares also felt the blow Thursday, closing lower to extend the previous session’s sharp drop. Britain’s FTSE 100 was down 2%, France’s CAC 40 fell 4.2% and Germany’s DAX lost 2%. 

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