A fresh face in fashion

As fashion trends change and evolve, so does the landscape of fashion. Milwaukee fashion is continuously evolving. Those in the know consider Shanel Regeir one of the premier local designers, a fresh face in fashion.

A write-up in Womens Wear Daily confirms this esteemed title. Her styling always hints towards Victorian romance, but as her famous corsets would suggest, not all of her designs are quite so innocent.

Shanel showed her fall 07 collection on April 21 in the Historic Turner Ballroom, and those in attendance can attest to the fact it was packed. Mother Nature was on Shanels side, providing a beautiful spring day, giving way to a clear, cool evening. This allowed all the beautiful people to comfortably wear open shoes, and no coats, way chicer than bulky winter wear.

The theme for this seasons show was The Mad Hatter and Alice in Wonderland; of course this was not released until the actual show. Some 30-plus looks graced the runway, half with an air of whimsy and innocence, the others a little darker and mischievous.

While this is technically a fall show, meaning the clothes are intended for fall wearing, the variety of textures, colors and materials make the collection wearable through the spring into the fall.

While the show was divided in its theme, the looks went down the runway one after another, first Alices, then the Mad Hatters, and so on. The Alices wore short balloon dresses and voluminous trapeze coats in shades of white, light blue and pink.

On the other hand, Mad Hatters were swathed in more neutral colors like brown, dark green and tan with tight turtlenecks, high-waisted skirts and witty top hats. Each group sported Shanels signature corsets, some retaining the classic design, and others with belt buckle closures instead of the usual ribbon.

In addition to the show itself, a silent auction raised money for the Shanel Regier Art in Fashion Fund. The fund offers one art student with junior or senior standing a grant or scholarship. A sculptor by trade and Milwaukee Institute of Art and Design graduate, Shanel understands the difficulties aspiring artists face.

As Shanel continues to learn and grow as a designer and artist, her work becomes more focused and her points of view more clear.

Australian Fashion Week kicks off in style

SYDNEY - The best of Australian fashion will be showcased to domestic and international buyers when Fashion Week kicks off in Sydney today.

Leading Australian and Asia Pacific fashion designers will present their 2007/08 spring and summer collections to buyers and media at Rosemount Australian Fashion Week, which runs from today until Friday at Circular Quay.

New Zealand designers who are showing during the week include Zambesi, Cybele, Juliette Hogan, Annah Stretton, Stolen Girlfriends Club, Jimmy D, Love Lies Bleeding, Tanya Carlson and Lonely Hearts Club.

International buyers have been confirmed from the United States, Canada, the United Kingdom, Italy, Spain, Sweden, China, Japan, Singapore, Indonesia, Malaysia, Thailand, Hong Kong and New Zealand.

NSW State Development Minister Ian Macdonald said the Australian fashion industry was renowned for its innovation, creativity and quality, with NSW at its core.

"Rosemount Australian Fashion Week is recognised as the Asia Pacific's major stop on the international fashion week circuit, and Sydney as the region's fashion equivalent of New York, London, Paris and Milan," Mr Macdonald said.


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AdvertisementAlthough not part of the official schedule, Willow was listed on the RAFW schedule as an off-site participant and showcased designs at an off-site Darling Point venue (click on photo gallery icon to view photos).

NOW YOU NEED £6M TO LIVE LIKE A MILLIONAIRE

THE cost of enjoying a millionaire lifestyle in Britain has doubled in the past two years to almost £6million.

A study showed that those lucky enough to live in luxury splash out atleast £750,000 a year and have assets of £5.8million.

Researchers also found that multi-millionaires are becoming more extravagant in a bid to keep up with the super-rich like oil billionaire Roman Abramovich.

Report author Paul Naden, of luxury events organisers Carbon Black, said:"Even multi-millionaires are still chasing the dream. A lifestyle of luxury is not enough. They want extreme luxury."

Researchers interviewed 200 UK-based multi - millionaires about their lifestyles and spending.

Hawaii has highest millionaire-to-household ratio in the nation

HAWAII has the highest millionaire-to-household radio in the United States, according to a division of New York-based Phoenix Marketing International.
The winning number, 6.79 percent, might be so high because so many Hawaii households are house-less, but that's another story.

On the 'Net:
» www.phoenixmi.com

The Phoenix Affluent Marketing Service ranking of U.S. states and the District of Columbia counts the percentage of millionaires in each state.

Hawaii tops the list this year, as it did last year -- and it was at or near the top in the years prior, said David Thompson, vice president and managing director of Phoenix Affluent Marketing.

Some states' rankings , such as California at No. 8, down from No. 6 last year, and New York at 13 this year, down from No. 11 last year, are surprising.

Poor Warren Buffett at Berkshire Hathaway was practically slumming in 2006 with his corporate HQ in Nebraska, which ranked No. 34. It's up to No. 29 this year with a 4.32 percent millionaire-to-household ratio.

Households with greater than $1 million in investable assets are included in the millionaire category, but home values are not included, Thompson said.

Phoenix Affluent included only "highly liquid assets," Thompson said.

"We have a large-scale tracking study that we've been conducting for many years," he said. Using an algorithm to combine its own research, census data and information from Claritas Inc., a California-based marketing research firm, it comes up with the state rankings.

The information "is really just one component of the service we provide," Thompson said. The company also studies "how affluent households behave," from a financial and lifestyle standpoint -- information that is helpful to financial services wanting to market themselves to that elite sector of the population. "We do some business with other players in the luxury space," but its clients are primarily in the financial services and wealth management industries.

Starpulse News Blog

Celebrity Snippets
Bollywood actress Shilpa Shetty is set to open a chain of curry restaurants throughout Britain. The flagship store will open in central London, where the 31-year-old star is rumoured to be buying a house. The star's agent says, "Work is moving very swiftly and final details are being drawn up."

Star Wars Ewok actor Ron Phillips has died in a British hospital. He was 95. The actor, who was hospitalized after a series of falls, played an alien in 1983 Star Wars movie Return Of The Jedi. The short actor stood at a mere four feet six inches after a damaged pituitary gland from his childhood stunted his growth.

Scottish funnyman Billy Connolly has trashed reports that he supports the British National Party. The Mrs. Brown star has slammed claims that he is a supporter of their far-right policies, insisting he "detested" their beliefs. Party member Deryk Smith previously claimed Connolly "endorsed" the political group's politics.

Actress Nicole Kidman will star in a remake of 1950s classic How To Marry A Millionaire. The Oscar-winning actress - who has already starred in remakes of Bewitched and The Stepford Wives - will play Marilyn Monroe's role in the movie, which tells the story of three women's quest for eligible millionaire husbands.

Being wealthy may look easy, but...

Craig Costello, 84, doesn't feel like a millionaire. He lives on Social Security and income from four rental units and rides his bike for fun.
But the house in Manhattan Beach that he built 50 years ago for about $15,000 is now worth more than $3 million, making him a millionaire several times over, at least on paper.

"I don't feel I'm deserving of all this," said Costello, a former insurance agent and lifelong surfer. "I just had a very ordinary life."

Costello is part of a growing group of Southern Californians who don't think of themselves as rich, but are worth $1 million or more because of the run-up in home prices or the increased value of a family business. While some of these closet millionaires opt to liquidate their assets, a lot of them would rather not cash in their homes or businesses, no matter how much they are worth.

Judy Nelson, a retired CEO of a nonprofit organization in Hollywood, could sell her $1.3 million house. Instead, she went back to work recently as a life coach to supplement her husband's income as a physician so the couple can continue to travel, go to the theater and dress well. "We should be selling and downsizing, but we don't want to," she said.

Counting people whose residences are worth $1 million plus, about 8 percent of Los Angeles County residents qualify as millionaires, according to sales figures compiled by DataQuick.
But the ranks of the truly wealthy - high-net-worth folks with $1 million or more excluding primary residence - are also growing. According to market research firm TNS Financial Services, Los Angeles County had 268,000 "real" millionaires in 2006, up from 263,000 the previous year, making it home to more millionaires than any other county in the nation. In fact, 23 percent of California's millionaires live in L.A. County.

Nationwide, the mean net worth (not including the primary residence) for these households is $2,167,167; the mean investable assets are $1,442,841. The median age for the head of the millionaire household is 58 years old, and almost 45 percent are retired, the TNS report says.

Part of the reason why the rich are indeed getting richer is simply population growth overall. But there's more to it than that.

A lot of recent wealth creation has come from the sale of family businesses as baby boomers begin to retire - or at least sell out.

"Right now ... there's like three (family business sales) a week," said David Emmes, regional president for Mellon Financial Corp.'s private wealth management unit.

He said Mellon opened new offices in Century City in January specifically to cater to what it sees as a growing client base in the area. "The principals (of the businesses) are between 50 and 70," he said.

"They were driving from places like Newport Beach to Corona and the City of Industry. They own auto-repair shops, manufacturing companies. None of them think they have enough. When they liquidate, they're still getting used to how to use that money," Emmes said.

Get rich slowly

Most millionaires, or multimillionaires, however, have made their money the old-fashioned way - by saving and investing and living within their means, said Jeanette Luhr, who heads the affluent market research program at TNS. Of course, the historic run-up in real estate hasn't hurt.

But the theory first popularized by the 1996 book "The Millionaire Next Door: The Surprising Secrets of America's Wealthy" has proven true: that most rich people make their money by living relatively frugally and making conservative spending decisions. "When interest rates first dropped, we saw debt drop," said Luhr. "The affluent weren't taking out new loans and going out and buying boats.

"They were getting rid of their debt. ... They're not the ones out there driving the Lexuses. They're driving the Toyotas."

These days, it takes an increasing amount of scrimping and saving to call yourself seriously rich, especially in Los Angeles.

"A millionaire can't buy a lifestyle that is considered as high as they could 10 years ago," said Michael Rosenberg, a vice president of wealth management at Comerica Bank in Los Angeles. "There are more (multi)millionaires now, and you see them more. You hear how much an actor is being paid for a movie before you see the movie. You hear about how a Microsoft developer (Charles Simonyi) paid $25 million to go into space. The scale is different now."

Out in Brentwood

Indeed, the cost of living in the tonier areas of L.A. has created a true sub-class of struggling millionaires.

Software consultant Laurel Nicholson and her husband, a firefighter, own about $1.4 million in rental properties. They also own a $1.2 million, one-bedroom, one-bath house in Brentwood Glen, a neighborhood right off the 405 just south of Sunset, and bring in about $200,000 a year.

"We're actually in the red most months," she said. "This is what I find so frustrating about L.A."

Sure, the couple could sell all the rental properties, but that wouldn't solve the long-term problem of how to finance a Brentwood lifestyle.

"We could just sell out, but then we're going to be on a month-to-month kind of salary. We're never going to make it on our salaries on the Westside of L.A."

In addition to her $5,800 monthly mortgage, Nicholson pays $3,000 a month for child care, another $1,000 for preschool, and then there are the car payments. Nicholson isn't crazy about the idea of living in a cheaper neighborhood.

"We don't want to go to those other areas, like Mar Vista, but this is another thing we contemplate every day," she said.

"A lot of people overspend to try to match lifestyles," said Nick Krsnich, a certified financial planner in Woodland Hills. "The problem is, it's not very exciting to save money for the future; there's no instant gratification in that, but if you can do it for five to seven years, you'll have an investment portfolio."

Most professional wealth managers agree that nothing beats saving over time for building wealth, even if your home is worth a chunk.

"If you think you are worth a million, that's a pretty big accomplishment. But if that's your house, it's just an asset on your balance sheet," said Tom McFarland, founder of The Darrow Company Inc., a wealth management firm with offices in Century City and Concord, Mass.

"The question is how much you spend. That's the key. If your house was worth a million, plus another million in liquid assets, then you can start thinking about retiring," he said.

Being your own boss has its risks and rewards

WASHINGTON — I like working for a large company but I understand the many others who dream of owning their own businesses.

Lately, however, I've noticed quite a number of folks who have started their own travel agencies. Several friends and family members have approached me asking that I use their Web sites to make my airline, hotel or car rental reservations. Mind you most of them have never previously expressed the slightest interest in helping people travel.

Yet they have signed up with an online company that markets home-based travel agencies. In this business venture, you pay a monthly fee for a personalized Web site with back office support. You then direct people to your Web site to book travel on which you receive a commission. In this network-building business, you can also make money by getting others to establish their own Web sites.

It's not this specific business model that troubles me. My concern is that too often people are so eager to earn extra money or are looking for a quick way to wealth via entrepreneurship that they are enticed to start a business in a field they have little knowledge about. They get sold on a certain small business venture because of an inspiring hotel presentation.

Small business ownership certainly has been a popular path to prosperity in this country. Authors Thomas J. Stanley and William D. Danko, in their wonderfully researched book "The Millionaire Next Door," found that two-thirds of millionaires are self-employed.

But even in a country of more than 25 million small businesses, it is important to note that many fail. While two-thirds of new employer firms survive at least two years, only 44 percent last four years, according to the Bureau of Labor Statistics. This holds true pretty much across all industry sectors.

To make sure your small business isn't a failure and financial drain on your family, consider the following advice from the Small Business Administration (www.sba.gov) and SCORE, formerly the Service Corps of Retired Executives (www.score.org), a nonprofit made up of working or retired business owners, executives and corporate leaders who volunteer to help budding business owners:



Know what you love and love what you do. If you want to own a successful business, start with figuring out what you do best. Don't fall for a cookie-cutter business franchise just because the presentation was impressive. Start a business that has meaning to you. If it's all about the money, there's a good chance you will fail.


Plan to succeed. Yes, that means creating a detailed business plan. It doesn't matter what business you go into, you need to have a business plan. You've heard it before: If you fail to plan, you're essentially planning to fail. A good business plan will, among other things, include an executive summary, market analysis, company description, how the business is to be organized and information about products or services. For details on what should be in your business plan, go to the SBA's Web site. Click on the link for "Small Business Planner.''


Get organized. You will have to decide whether you want your business to be a sole proprietorship, partnership, limited liability company, or corporation. How you organize your business affects your personal liability.


Do a budget. A business budget is as important as a personal budget. Many people are so eager to become their own bosses that they completely ignore the essential element of a successful business

— making a profit. Notice I said profit, not revenue. Your goal should be to earn a profit. You may also consider keeping your job with a larger employer until you're confident you can earn a living being self-employed. Before you jump into an entrepreneurial venture, try it on the side for a while. I know you're excited about being our own boss, but your personal household bills still have to be paid.


Know the competition. Spend some time researching. Spend a few months looking through magazines that cover your business area. Most important, talk to business owners who are already successful in the field that interests you. They've been there and probably made a lot of mistakes they can help you avoid.


Pay your taxes. It's so tempting to spend your revenues and not set aside money for taxes, especially when times get tough for your business. Don't do it. It's a huge and costly mistake. For information on what's required of a small business, go to www.irs.gov. Click on the link for "Businesses.''


Get help. You don't have to do this alone. There are so many resources, many of them free. Take advantage of the vast knowledge of the volunteers who work with SCORE. If you go to SCORE's Web site, you can enter your Zip code and find an office nearest to you.

The week of April 22, the SBA and SCORE will be recognizing successful small businesses as part of Small Business Week. If one day you have aspirations to be one of those success stories, make sure you are passionate about the small business you start.

Listen to Michelle Singletary discuss personal finance every Tuesday on NPR's "Day to Day.'' To hear her reports online go to www.npr.org. Readers can write to her c/o The Washington Post, 1150 15th St., N.W., Washington, D.C. 20071. Her e-mail address is singletarym@washpost.com. Comments and questions are welcome, but due to the volume of mail, personal responses may not be possible. Please also note comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.

Divorce helps UK women become millionaires

In the UK, the number of female millionaires has been rising on the back of increasing social trends, such as inheritance and the rapidly climbing divorce rate. They now make up nearly half of all millionaires in the UK, according to independent market analyst Datamonitor.

On top of that, a new generation of women have started to prosper in their own right, and female entrepreneurs are increasingly growing in number.

While a male millionaire's wealth has increased by an average 9.2 per cent over the past eight years, the worth of a female millionaire has ballooned by 53.9 per cent, Datamonitor found.

The UK study showed that in 1998, the average male millionaire was worth £2.71 million (AUS$6.51m), while the female equivalent owned just £1.28m.

But by 2006, the gap had narrowed to £2.96m for male millionaires and £1.97m for women.

Women make up about 46 per cent of Britain's 376,000 millionaires - and their number is growing by almost 11 per cent a year.

Some 3800 British women owned liquid assets of more than £5m, accroding to Datamonitor.

The number of women of "high net worth" status (classified as those with onshore liquid assets of more than £200,000) overtook men in 2005 - with 448,100 rich women compared to 429,300 men

Luxury suite

Lexus leads the class in creature comforts and refinement
Jim Kerr, Special to The StarPhoenix
Published: Friday, April 27, 2007
Luxury means many things to many people, but the new Lexus LS sedans are a good example of what luxury really is. For 2007, the Lexus LS 460 replaces last year's LS 430 as their flagship sedan. For the first time, Lexus IS also offering a long wheelbase version, the LS 460L. A 2008 hybrid LS 600h L will be available soon.

The performance built into these sedans isn't obvious until you drive them. The level of comfort is unsurpassed by any car even close to this price range, and the features available on the cars are as amazing as they are useful. I took the LS 460 for a drive. The LS 460 L and LS 600h L hybrid will have to wait till later.

Both the regular and long wheelbase LS 460's share the same powertrain. A new aluminum alloy V8 puts out 380 horsepower, 102 more than last year yet delivers fuel economy similar to a 3.0 litre engine. Variable stage intake tuning, variable cam timing and dual injection, which combines the benefits of both port injection and direct fuel injection, provide smooth, snappy performance at any speed. The engine undergoes several inspections and balance checks before it is installed and after the car is produced to ensure refined smooth operation.

The new eight-speed automatic transmission is lighter than last year's six-speed but offers incredible smoothness with a wide gear ratio for increased performance. This is a luxury car that can accelerate from 0 to 100 km/h in just 5.7 seconds and do it so smoothly you hardly feel like you are moving.

Inside, drivers find power tilt and telescopic steering and a 16-way power adjustable seat. I especially liked the power lower seat cushion that extended forward to give more leg support. The front passenger seat gets 12-way power adjustment with memory and both front seats are heated and cooled. Rear seat passengers get heated seats, but the driver is also able to turn on the seat heaters with a console-mounted button and can also move the passenger seat forward with auxiliary power seat controls on the left side of the seat back for more rear seat passenger room. A rear window shade is power operated, while manual sunshades are fitted to rear side windows.

Our car came with the Premium package, which includes navigation system and backup camera. Mapping was excellent, with easy to use menus and clear driving directions given both on screen and audibly through the sound system. Wood and leather trim surrounds the occupants in stylish comfort. A Mark Levinson audio system is crystal clear through all 19 speakers. The Lexus Smart Key system uses a push button to start and stop the engine and small buttons on the outer door handles allow unlocking or locking the vehicle. Just leave the key fob in your pocket or purse.

Our vehicle didn't come with the $13,900 optional Technology package, which includes features such as power memory rear seats, radar cruise control, power assist doors and power trunk opening, but the most talked about feature is the Lexus Advanced Parking Guidance system. This system, seen on TV ads, shows the car automatically parallel parking itself. I tried the system on a long wheelbase model and after a short learning period, I was able to use the system to park the car in a few seconds. This feature may sound frivolous, but it works great and is a good example of the sophisticated technology beneath the shiny paint of the LS sedan.

On the road, the car motors with agility and grace. Bumps are soaked up as if non-existent. Neither road nor wind noise intrude inside. Shifting the transmission manually does feel sportier, but the automatic programming does a great job. Step on the throttle and it will downshift several gears immediately to give the best performance. Body roll is minimal even when pushing the car fast into tight corners and the car tracks around bends with no second guesses from the driver. The electric assist power steering feels excellent and is linked with the brakes and transmission through the Vehicle Dynamics Integrated Management system to provide maximum vehicle stability.

Luxury comes with a price tag, but you get a lot of luxury. Looking for even more? The LS 460 L comes with even more features.

2007 Lexus LS 460:

- Configuration: luxury five-passenger sedan

- Engine: 4.6-litre DOHC 32 valve V8 producing 380 horsepower at 6,400 rpm and 367 ft lb. torque at 4,100 rpm

- Transmission: eight-speed automatic

Fuel Economy: City 12.6 L/100 km; Highway: 8.0 L/100 km

- Suspension: Front and rear: independent multi-link suspension with coil springs, gas shocks, stablilizer bars

- Brakes: Four-wheel vented disc brakes, ABS, emergency brake assist

- Special Features/Options: Navigation system, voice activated controls, steering wheel controls, stability control, side curtain air bags, tilt/telescopic steering, rain sense wipers

- MSRP: $86,400

- Price as tested: $91,675 including $1,775 destination charges.

Luxury for the people

VICTORIA, B.C.–If imitation is the sincerest form of flattery, then the folks at Lexus should be blushing from cheek to cheek.

Hyundai has gone and built yet another vehicle that looks like a member of the Toyota-Lexus family (the Sonata is a good facsimile of the best-selling Camry and the Santa Fe is somewhat of a RAV4 clone).

Save for its face and a few design elements at the rear, Hyundai's new seven-passenger Veracruz crossover looks suspiciously like Lexus's RX 350, inside and out.

But that's not its main competition, says the South Korean auto maker.

While it benchmarked its Veracruz against vehicles such as the RX 350, Acura MDX and GMC Acadia, it's going after buyers shopping the less ritzy Honda Pilot, Toyota Highlander, Nissan Murano, Mazda CX-9 and Subaru Tribeca.

It's also the auto maker's most confident move in terms of pricing. Hyundai has come a long way from the days of the Pony.

Get ready for it: there's now a $40,000 Hyundai.

The Veracruz dissolves any thoughts of cheap or disposable. It comes in two well-appointed trims: the GLS, starting at $39,995, and the top-line Limited model at $45,995.

Both have the same mechanicals, heated leather seats, six airbags, a sunroof and the usual power goodies. The Limited adds a rear-seat DVD entertainment system, Infinity surround sound system with six-disc CD changer and 10 speakers, and a power liftgate.

There are no options but, unfortunately, also no Bluetooth, MP3-player input, front-seat auxiliary jack or a navigation system, which is technology available in most of the others.

It's no secret that Hyundai checked out the competition's ride, handling and power, took note and tried to replicate the good points as closely as possible.

The Veracruz's platform is loosely based on the Santa Fe's, which has been lengthened and widened for the mid-size LUV (luxury utility vehicle).

The Veracruz isn't dramatically larger than the Santa Fe: 4,840 mm in length versus 4,675 mm; a height of 1,807 mm compared with 1,795; a width of 1,945 against 1,890.

But the Cruz, which fills the top rung above the Santa Fe as the Azera does with the Sonata, gets more luxurious materials and higher-end technical bits.

There's a new six-speed transmission with a manual shift mode, which helps the Veracruz purr seamlessly. (Even when climbing Vancouver Island's Malahat Summit, the transmission didn't strain to find the appropriate gear.) The six-speed tranny, a feature that's becoming standard on higher-end models, is one of this crossover's bright spots.

The transmission's well-appointed mate is the same engine that powers the Azera: a 3.8-litre V6 that makes 260 hp and 257 lb.-ft. of torque. The motor is more powerful than the Pilot, Highlander and Murano and though it falls short of the Lexus's 270 hp, the Hyundai feels appropriately powered, neither lickety-split quick nor sluggish.

In terms of ride and handling, it's not sporty but it's not as cushy as driving a sofa down the road, either. Hyundai did a good job of balancing stiff and soft. And, like the promise of other crossovers, the Veracruz feels more like driving a car than a truck-based SUV. Inside, it's vault-like quiet, too. Another bonus: It runs on regular, not premium, gasoline.

The steering is nicely weighted, but like most SUVs it felt more at home on straight stretches of the Trans-Canada than carving its way up mountain switchbacks. Big brakes do a confident job of stopping the Veracruz.

A new all-wheel drive system is standard on both models. While the Veracruz likely won't see much back country, the system is useful in slick or slippery situations. It automatically routes power to the wheels that have the best traction and can be locked with a 50/50 split for light off-roading.

The crossover also gets a 20 cm ground clearance for curb climbing.

The fit and finish and the soft touch materials used inside the Hyundai feel high-end and luxurious, especially the upgraded leather that comes standard on the Limited's seats and door panels.

One complaint with the driver's chair: I like to sit lower to the floor when driving, as did my partner on this trek, and the seat doesn't power down low enough to feel ideal.

There's lots of room all round, and my usual allergy to third-row seats disappeared when I climbed to the far bench of the Veracruz.

It was easy to get into (not as easy on the exit, but that's the case with all third rows) and once there, after sliding the second row a few centimetres forward – it can travel up to 18 cm – I had enough leg- room, footroom and chair space (though headroom was tight).

As with other utility vehicles with three rows, when that 50/50-split fold-flat third row is in use, there's only a sliver of cargo room, enough for a few briefcases.

With the Veracruz, Hyundai is courting those who would otherwise look at the alternatives, such as Toyota, Honda and even Lexus and Acura.

It's jam-packed with luxury, elegance, power, comfort and utility. And, as is Hyundai's formula, it offers more for less.

It's too bad Hyundai hasn't been able to carve out its own individual design path. But at least when it does borrow, it gathers all of the best elements from the competition and bundles them in a neat package.

Lexus must be flattered – especially since that auto maker is set to redesign its RX 350 for 2009 to be bolder, sportier and more luxurious.

I wonder if Hyundai will follow.

Luxury private jet service for Edinburgh

For most of us chartering a private jet is an unatainable dream. But it is a reality for a growing number of wealthy Scots. There has been a big increase in demand for private aircraft and now a luxury jet is to be based permanently at Edinburgh airport's new VIP terminal.

The luxury 15 seater plane could be soon be the transport of choice for Scotland's jet set. More business and leisure travellers up here have been requesting private aircraft and
Edinburgh private jet
so now an aviation company has decided to base this executive jet in Edinburgh.

Mel Anderson from Club 328 Private Jet Services said: "We have sports management companies who are already talking to us about the rugby world cup through to the Monaco boat show the grand Prix. We can bring this to the Scottish market and use our yachts that are already in the South of France."

It may sound and indeed look like an unaffordable luxury but on average it's now only 15% more expensive to fly in a private jet than to book a business class seat on a scheduled
Edinburgh private jet
flight. So a growing number of travellers are choosing the freedom this option gives them.

Robert Greer from Greer Aviation said: "It's convenience. You can fly to and from anywhere you like without having to go through the major airports. You also don't have the same massive queues at security."

The aircraft will be based in the capital but it will also fly out of Prestwick and Inverness. For some wealthier travellers it well mean and end to those long queues at the check in desks.

American billionaire returns to Earth after $25 million space trip

An American billionaire who paid $25 million for a 13-day trip to outer space returned to Earth on Saturday in a space capsule that also carried a cosmonaut and an American astronaut, making a soft landing on the Kazakh steppe.

The capsule carrying Charles Simonyi, a Hungarian-born software engineer who helped develop Microsoft Word and Excel, arrived after a more than three-hour return trip from the orbital station, a spokesman said at Mission Control outside Moscow, describing the touchdown as a "soft landing."

Simonyi looked ecstatic after rescuers removed him from the capsule, which lay askew on the bleak grassland. He smiled and grinned as he spoke with the support crew.

Also on the return journey were Mikhail Tyurin and Michael Lopez-Alegria, who spent seven months on the international space station. Tyurin looked pale and tired, but soon managed a smile in a video link with Mission Control.

The capsule raced down to Earth after separating from the two other sections of the Soyuz TMA-9 craft following its departure from the station, where one of the final tasks the travelers performed was to move containers with biological experiments from refrigerators on the station into the Soyuz.

"I crossed my fingers all the way, and I am very happy now," Simonyi's brother Tomas said at Mission Control. "Yes, I was nervous, but now it's a big relief to know that he's safe and sound and that the crew is safe and sound."

Simonyi arrived at the station on April 9 - also courtesy of a Soyuz, which flew into space atop a Russian rocket launched from the Russian-leased launch facility in Baikonur, Kazakhstan - along with cosmonauts Fyodor Yurchikhin and Oleg Kotov, who remained on the station.

Wiping tears from her eyes with a tissue, Lopez-Alegria's wife, Daria, said she was not nervous "until the last minute."

"He missed him much more," she said, pointing to their 7-year old son Nicholas.

Microsoft billionaire says $25 million space trip worth it

SEATTLE -- Microsoft billionaire Charles Simonyi says his $25 million trip to the international space station was worth it.

He says he views the money as support of the space program and he has no regrets at all.

Simonyi spoke to The Associated Press Monday from Star City, Russia, where he was still recovering from his 13-day space trip.

He says it took about a day after the Russian rocket landed Saturday to recover his balance. He still feels a little weak and has slightly lower than normal blood pressure.

Simonyi says he'll stop in Moscow and his native Hungary before returning to his Seattle area home in three or four weeks.

Simonyi says his friend Martha Stewart is happy everything went well. He says he doubts she'll follow him into space, although he says she's very adventurous.

The 58-year-old Simonyi is a former Microsoft executive who led development of the Word and Excel software programs.

US billionaire to auction rare British stamps worth $4m

New York - US billionaire William Gross is planning to auction off his collection of rare British stamps dating to 1840 and donate the expected multimillion-dollar proceeds to Doctors Without Borders.

Gross, a legendary Wall Street bond fund manager, intends to put his valuable portfolio of British stamps dating from 1840 to 1929, including the "world's first adhesive postage stamps", on the auction block on June 11, according to a statement from Gross and the organisation.

The 200 stamps up for grabs are conservatively valued at about $4 million (R28 million) and include a Penny Black and Two Penny Blue stamps depicting a young Queen Victoria, according to auctioneer Charles Shreve.

Darin Portnoy, the president of the US arm of Doctors Without Borders, also known as Medecins Sans Frontieres, said the auction could garner a lucrative donation for the French-based humanitarian group, which provides emergency medical care in conflict zones and to people affected by natural disasters.

Gross, an avid stamp collector, has a net worth of $1.2 billion, which he mainly amassed through bond trading, according to Forbes magazine, which ranks him as one of America's richest individuals. - Sapa-AFP

Billionaire Shares His Secret: 5 Dimensions to Success

Charles G. Koch may very well be the most successful businessman you’ve never heard of.

He is also one of the richest men in the world — Forbes ranks billionaire Koch as the 49th richest man on the planet.

Rarely has such a successful businessman shared his secret formula for success.

But Koch has done just that in his newly released book, “The Science of Success: How Market-Based Management Built the World’s Largest Private Company” (Wiley).

Unlike many success and self-help books that are written by experts that have never had tremendous business success, Koch has built his family’s business, Koch Industries, Inc. (KII) into what Forbes says is the “world’s largest private company.”

KII is a leading maker of natural resource-based products, including gasoline, chemicals, polymers, fibers, building products, packaging, tissue, and process equipment.

You know Koch by some of its well-known brand named products, including Dixie cups, Quilted Northern tissue, Stainmaster carpets and Lycra spandex.

When Koch joined his family company in 1960, it had revenues of $70 million. Today, Koch has revenues of about $90 billion, employing some 80,000 people in 60 countries across the globe.

KII’s growth has been enormous. Consider if one had invested just $1,000 in the S&P 500 in 1960 it would be worth about $125,000 today. The same $1,000 invested in Koch Industries would have a book value of more than $2 million today!

KII is a true rarity: As a large company it has not only survived, it has grown tremendously. It continues to grow rapidly!

Charles Koch has revealed the principles of success he has discovered during almost five decades of business. You can tap into his lessons for your own business and personal success. Check out Koch’s “Science of Success” on Amazon — Go Here Now.

How has KII had such enormous growth?

The answer, according to Charles Koch, is simple. It’s called MBM® or Market-Based Management.

Koch defines MBM as “a philosophy that enables organizations to succeed long term by applying the principles that allow free societies to prosper.”

He says there are five dimensions to understanding the success of free societies, five dimensions that can applied for business success.

In his book Koch reveals the five dimensions and discusses how to apply them for business success.

Koch developed MBM from his desire to build a great company and his studies of the principles that lead to prosperity and society’s progress.

“After studying history, economics, philosophy, science, psychology, and other disciplines, I concluded that the two passions were strongly, indeed intimately, related,” Koch writes.

Koch believes all business people can tap into MBM for success, but they must understand it “is a never-ending process of learning and improvement. Like the North Star, it is not a goal in itself but a guide in this instance toward greater and greater value creation.”

There’s plenty of practical advice in the book that helps you turn theory into real business success.

Here’s just some of the nuggets:

It’s OK to make mistakes and why Koch’s father gave the surprising advice: “I hope your first deal is a loser . . .” It helped make his fortune.
Progress and success require failure. Failure can be good — if you learn from it. Don’t try to eliminate failure.
Why virtues and values — like honesty — are indispensable in building a successful, prosperous, and sustainable business.
Embrace change: The marketplace is constantly replacing old ways with effective alternatives in a process called “creative destruction” — drive this process!
How self-interest works for the better good.
Grasping the importance of “subjective value” and the fact that all economic value comes from people valuing the good, not its cost. This value is revealed by people’s actions, not what they say.
Harnessing the “multiple intelligences” people have and using human capital to achieve your goals.
Discovering that a market economy is based on “useful knowledge” — and why knowledge must be plentiful, accessible, and relevant in your business life.
Why cost cutting is not always the best way to improve your bottom line and can be “shortsighted and can seriously damage future profitability.”
Thinking outside the box: Koch explains how Southwest Airlines succeeded because it ignored competitors and looked to NASCAR in figuring how to move baggage and passengers.
Jointly solve the jigsaw puzzle: The rate of discovery is highest when everyone works together in sight of each other so that every time a piece fits the others are alerted to opportunities for the next step. Apply this process to your company to unlock the discovery process and profits.
There is much, much more in Koch’s “Science of Success” — find out more about this book — Go Here Now.

The Science of Human Action

Koch argues that MBM is rooted in the Science of Human Action and is defined by five dimensions.

Understand and apply these dimensions and your business will soar.

The five dimensions:

Vision — Determining where and how the organization can create the greatest long-term value.
Virtue and Talents — Helping ensure that people with the right values, skills and capabilities are hired, retained, and developed.
Knowledge Processes — Creating, acquiring, sharing, and applying relevant knowledge, and tracking profitability.
Decision Rights — Ensuring the right people are in the right roles with the right authority to make decisions and holding them accountable.
Incentives — Rewarding people according to the value they create for the organization.
When these dimensions are applied in an integrated, mutually reinforcing manner, they create continuous transformation and positive growth.

Any organization — corporation, small business, nonprofit, government agency — and the people who manage them can apply these proven principles.

MBM will benefit you, your company, your customers and your employees!

Find out more about MBM and Charles Koch’s “Science of Success” — Go Here Now.

About Charles G. Koch

Charles Koch is chairman of the board and CEO of Koch Industries, Inc., a position he has held since 1967. Since then, the company has been transformed into a dynamic and diverse group of companies in refining and chemicals, process and pollution controls technology, fibers and polymers, minerals including fertilizers and exploration and production, commodity and financial trading, and forest and consumer products. Koch has continuously supported academic and public policy research (including numerous Nobel Prize winners) for more than 40 years and has helped build a number of market-based organizations. Koch received a bachelor’s degree in general engineering and two master’s degrees — in nuclear and chemical engineering — from the Massachusetts Institute of Technology.

The Billionaire's Cocktail

First off, it's not a cocktail that costs a billion dollars (although I'm sure there's one out there, somewhere...) but instead a cocktail designed for a billionaire. That would be an intimidating job I think, to create a drink especially for a specific, very rich, person. Calvin Ayre, billionaire founder of Bodog.com is that person, and The Liquid Muse is the creator of his signature drink, Billion-Ayre's Bet.

Based on his choice spirit Bombay Sapphire, the drink also includes grapefruit juice, Campari, lime, and champagne. See the complete recipe here, and think: what would your signature cocktail be?

Rise of the female millionaire

The number of female millionaires in Britain is "soaring", a new study claims.

Research by Datamonitor shows that changing social trends, including the UK's increased divorce rates and lucrative inheritances, are contributing to the rise in wealthy women.

But the business analyst says that the gap between the richest men and women is still substantial, currently standing at 112 per cent.

In 2005 the average British male millionaire was worth £2.7 million, compared to his female equivalent who owned £1.28 million.

By using an alternative measure of wealth, rich women actually outnumber their male counterparts in the UK.

Datamonitor says there were 448,100 women and 429,300 men with more than £200,000 in onshore assets in 2005.

The author of today's report, financial services analyst Lauren McAughtry, says that private banks are failing to take advantage of the growing number of female millionaires.

She claims that the "champagne and chocolate approach" does not work, insisting that women want more from their bank than a "spa discount and a pink website".

"Unfortunately many banks don’t yet have a specific budget to research the segment, so instead are having to focus on tactics rather than long-term goals," Ms McAughtry continued.

"This lack of strategic thought is resulting in opportunities being missed, and leaves a potential gap in the market."

What you'll need today to live like a millionaire: £6m

It costs twice as much to live a millionaire's lifestyle as it did two years ago - and £1 million in the bank is not nearly enough, a report reveals.

You need nearly £6million in the bank to qualify for membership of the elite club.

Today's self-respecting big spenders are not content with a degree of comfort most of us would envy. They want to emulate the super-rich, such as Chelsea owner Roman Abramovich and BHS tycoon Sir Philip Green.

To achieve their luxury lifestyle, they can expect to fork out at least £750,000 a year and have assets of more than £5.8million.

Researchers based their findings on interviews with 200 UK-based multi-millionaires about their lifestyles and spending habits.

The minimum requirement to be considered rich in 2007 includes ownership of a £4million London mansion complete with staff at a cost of £38,400 a year, and a holiday home worth more than £1million. Other required spending includes at least two luxury holidays, wining and dining at the top restaurants and private school fees. In addition, you would require at least two cars worth upwards of £140,000.

Half of those surveyed owned a luxury yacht, 13 per cent had their own private jet and four of the multi-millionaires had their own private island.

The report's author Paul Naden, founder of luxury events organiser Carbon Black, said: "Even multi-millionaires are still chasing the dream. A lifestyle of luxury is not enough. They want extreme luxury.

In their circles, having a super-car is almost the norm, so now they want a collection of Ferraris, Lamborghinis and Porsches.



Sir Philip Green is one of the elite who can truly call himself

"They want private jets and then helicopters to take them out to their boats. They want the ultimate experiences and they are not prepared to compromise.

"We believe that this is being partly driven by the glamorous media presentation of the lives of the elite super-rich like Roman Abramovich, footballers such as David Beckham and pop stars like Elton John."

Britain's millionaire population stands at 376,000 and could more than quadruple to 1.7 million by 2020, fuelled partly by huge rises in the housing market. The average age of those interviewed was 34.

"A decade ago, the multi-millionaires would mainly have been in their late forties or early fifties," Mr Naden added. "But there is now a younger generation of entrepreneurial rich that is more thrill-seeking.

"We find that these people expect not only vintage champagne and the rarest cigars but accommodation in venues such as presidential palaces, which are not normally open to the public, and parties on private islands and super-yachts."

The report says birthday celebrations have become a particularly popular way for the super-rich to demonstrate their spending power. For example, Sir Philip Green spent £5 million on his 50th birthday party, flying in Tom Jones and Rod Stewart to provide the entertainment.

"Being able to afford the Brioni suit, the Rolex Daytona and the helicopter is one thing.

"But getting on the guest list of invite-only events is now seen as the definitive indicator of status for today's wealthy," Mr Naden said.

Kid Millionaires

Chalonda Roberts (Rochester, N.Y.) - Who wants to be a millionaire?

Some students in Rochester do, and they are using model behavior to make it happen.

Every week students at Rochester Preparatory School have a chance to earn "scholar dollars" as a way to join the Millionaire’s Club.

The club is a behavior merit system based on money. The money is fake but the incentives are big.
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Principal Stacey Schells said, "Life is about choices. Kids know exactly what they can lose money for and what they can earn money for."

New millionaires are announced during lunch. Members then sit in a VIP section of the cafeteria where they get to socialize with their friends.

It works like this: students get $50 at the beginning of the week. They can lose some of it by misbehaving, such as calling out or talking back. But, if they practice the virtues, they can earn a perfect pay check.

Student Mahogany Blair named the virtues: "compassion, respect, responsibility, diligence, perseverance, and integrity."

Those virtues landed her in the club.

Maurice Ragland is a millionaire this week, but that's not always the case.

"Sometimes I don't slant, sometimes I talk, sometimes I do things--I get into trouble," Maurice said.

“Slant” is an acronym that reminds students to Sit Up, Listen, Ask, Answer, Nod. and Track the Speaker.

Maurice says he's working on his slant.

Mahogany is a regular in the club and hopes to be a real millionaire some day.

''I can help my family out and have money for my children to go to college," she said.

For now she and classmates are learning a discipline that they'll use throughout their lives.

Students can use their scholar dollars to take school field trips and purchase gifts, games, and uniforms.

Millionaire women narrow gap between rich and rich

Wealth used to be a man's world, but the gap between the sexes when it comes to money is narrowing rapidly, a report shows.

The number of women millionaires in Britain has been rising with social trends - such as inheritance and the rapidly climbing divorce rate - according to independent market analyst Datamonitor.

In addition, a new generation of women have started to prosper in their own right and female entrepreneurs are growing in number.

Although a male millionaire's wealth has increased by an average 9.2 per cent over the past eight years, the worth of a female millionaire has ballooned by 53.9 per cent, Datamonitor found.

In 1998, the average male millionaire was worth ?2.71 million ($7.32 million), while the female equivalent had just ?1.28 million.

But by last year the gap had narrowed to ?2.96 million for male millionaires and ?1.97 million for women.

Women at present make up around 46 per cent of Britain's 376,000 millionaires - and their number is growing by almost 11 per cent a year.

Some 3800 British women own liquid assets worth more than ?5 million, Datamonitor said.

The number of women of "high net worth" status (classified as those with onshore liquid assets of more than ?200,000) overtook men in 2005 - with 448,100 women compared with 429,300 men.

Private, investment and high street banks are vying to capture a larger slice of this potential market.

But although Citigroup in the United States has launched a service aimed specifically at women, many British banks have yet to make a move.

Most of the female-focused offerings have taken the "champagne and chocolate approach", but Lauren McAughtry, a financial services analyst at Datamonitor and author of the report, warned that women were looking for more than "a spa discount and pink website" from their private bank.

"Unfortunately many banks don't yet have a specific budget to research the segment, so instead are having to focus on tactics rather than long-term goals.

"This lack of strategic thought is resulting in opportunities being missed, and leaves a potential gap in the market."