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[Hiring] Network Administrator Manager
2023.06.06 22:31 AdOtherwise9815 [Hiring] Network Administrator Manager
Job:
(Local Area) Network Administrator - Job Description: The Incumbent will lead a team of six to seven IT Professionals in partnership with the US Navy and other government agencies to provide operational and logistical support to base and flight line operations. He/she will manage facility networks to include network servers and peripherals, network architecture, data communications, TCPIP, MPLS, BGP, NTP, RADIUS, and data communications.
- Location: Comalapa Air Base, El Salvador
- Clearance: Secret
- Experience: 5 years minimum LAN Server w/latest Windows Technologies
- Salary: $100,000 - $110,000
- Job Announcement Link: LAN Administrator (Central America), Washington, DC - Job Details Indeed.com
- Company Name: Fusion Cell, LLC
Schedule:
- Mon-Fri
- 7am - 4pm
- On Call rotation to support 24-hour operations
Other compensation items: - $1.5K per month housing stipend
- Live off the installation
- Paid Time Off
- 11 paid holidays
- $750 annual travel allowance
- Free employee health insurance
Requirements:
- US Citizen & Valid US Passport
- Active Secret Clearance
- Bachelor's Degree in Computer Science or related field
- Min 5-years LAN servenetwork experience with latest Windows technologies
- Personnel Management experience
Certification: - MCSA: Microsoft Solutions Associate Certified 2012 or higher - or
- MCSE: Microsoft Certified Systems Engineer 2012 or higher - Required
- CCNP: CISCO Certified Network Professional Security - or
- CCNP S: CISCO Certified Network Professional Router & Switch - Required
- CCIE: CISCO Certified Internetwork Expert - Preferred
- CASP+CE: CompTIA Advanced Security Practitioner - Required or
- IAT III: Information Assurance Technician (IAT) DoD 8570.01M Level III - Required
- MS Cert: Windows Server Hybrid Administrator Associate - Preferred
- CISSP: Certified Information Systems Security Professional - Preferred
- ESS 201: Endpoint Security Solutions Administrator 5.10 201 - Required
- ESS 301: Endpoint Security Solutions Advance - Required
Responsibilities/Expectations:
- Daily operation & maintenance of C4I and AT/FP systems & equipment associated with the site's LAN System
- Provide LAN system and application management services
- Manage & maintain classified & unclassified network enclaves & assist the US Gov't with tasks associated with system operations
- Ensure Information Assurance Vulnerability Management (IAVM) compliance
- Serve as primary network engineering expert with demonstrated experience in Cisco Firepower / Firepower Management Center (FMC) and Cisco Identity Services Engine (ISE)
- Serve as the IT Department Lead over a team of five IT professionals covering a suite of functions including Help Desk Support, Telecommunications Support, HBSS Administration, & Cybersecurity
- Contribute to technical proposal development in support of contractual modifications and new business
- Prepare reports that detail/summarize test/audit findings & determine what additional testing/reporting would help achieve strategic goals more effectively & efficiently
- Use metrics to track performance & apply countermeasure diagnostic tools to close nonconformances
- Review configuration management programs; collaborate with management to plan, develop, implement, inspect, & report noncompliance
- Is the First Line of Defense (FLOD) to identify & remediate process gaps (regulatory, technical, or financial)
- Define understandable key metrics to show the status of the IT Department.
- Initiate & drive quality & process improvements throughout the site
- Oversee the Department's documentation library; ensure SOPs, Operating Instructions, Desktop Procedures, Work Documents, OEM (Original Equipment Manufacturer) Manuals, technical, & regulatory requirements are up-to-date
- In depth knowledge of network architectures, topologies and IP protocols
- Knowledge of Microsoft Windows Server 2012R2 through Server 2019, Microsoft Endpoint Configuration Manager (MECM), Red Hat Enterprise Linux (RHEL), VMware ESXi, virtual and physical storage, Storage Area Network (SAN), VRTX, Solarwinds Orion, Solarwids Patch Manager, Microsoft NPS, DFS, Events logs, Powershell Scripting, SNMP, DHCP, DNS/BIND, ADDS, GPO, Cisco Firepower Firewalls and IDS/IPS, Cisco Secure Firewall Management Center (FMC), Cisco Identity Services Engine (ISE), Cisco routers/switches, McAfee / Trellix Endpoint Security Solution (ESS) Suite, Veritas Backup Exec, Dell PowerVault Tapes, Security Information and Event Management (SIEM) Splunk administration, KIWI syslog administration, tumbleweed, MS Office 2016 and newer products, MS Visio 2016, Adobe Product Suite, Assured Compliance Assessment Solution (ACAS), Active client software, Windows Security Update Server (WSUS), AtHoc (Crisis Communication Notification) software, and all security software approved by the DoD
- Be able to STIG/apply SRGs to all aforementioned technologies.
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2023.06.06 14:50 WobblingGobble Resume critique a Geology resume to Data Analysis
Ideally want to transfer careers from geology to data analytics. So ways to make it more data friendly would be helpful. Also I know there are some formatting problems like dates not being lined up. Not worried about those because I know they need to be fixed and happened when I anonymized the resume on my phone. But anything else I appreciate the critique!
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2023.06.06 07:17 JackWallner2 Industrial Services Market worth 44.1 Billion, at a CAGR of 8.9%
According to the new market research report
"Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025" The industrial services market size is estimated to be USD 33.6 billion in 2020 and is projected to reach USD 44.1 billion by 2025, at a CAGR of 5.6% between 2020 and 2025. The rising necessity for operational excellence, growing demand for predictive maintenance services, and increasing demand for maintenance-as-a-service are major factors driving the growth of the industrial services market. Additionally, increasing equipment complexity leading to a growing need for calibration and repair services is another key driver for the market.
• Informational PDF Brochure :-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=209335409 Browse 217 market data Tables and 42 Figures spread through 223 Pages and in-depth TOC on "Industrial Services Market by Industry, and Region - Global Forecast to 2025" View detailed Table of Content here -
https://www.marketsandmarkets.com/Market-Reports/industrial-services-market-209335409.html Operational improvement & maintenance services to grow at the highest growth rate during the forecast period The operational improvement and maintenance services help the end users improve the assets lifecycle and reduce downtime. The complete suite of operational improvement and maintenance services segment can be further divided into a broad spectrum of services, including scheduled maintenance, ad-hoc and emergency maintenance, and predictive maintenance services. Ad-hoc and emergency maintenance services help end users reduce unplanned downtime by providing a control system expert for fast and efficient onsite support. Scheduled maintenance services assist the process & discrete industries in monitoring the operational equipment—the services provide up-to-date maintenance of filed devices, software, and plant. Predictive maintenance services help end users decrease unplanned downtime by monitoring installed devices and systems continuously.
Industrial 3D printing to grow at the highest growth rate during the forecast period Industrial 3D printing is used in major industries such as automotive, aerospace, food & beverages, electrical/electronics, and foundry and forging industries. Manufacturing tools is an expensive and time-consuming process, but it can be simplified using industrial 3D printing tools. The highly complex designs can be easily manufactured using 3D printing, thereby eliminating the requirement of an assembly line. It also reduces the labor cost. As the potential applications for 3D printing increase, companies are beginning to create new business models and opportunities with the technology.
Food & beverages industry is expected to register the highest CAGR during forecast period Besides rising costs, the food & beverages industry faces other challenges such as regulatory compliance, management of the global supply chain, product quality, and continuous process improvement. There is a strong demand for processed food from the emerging markets owing to the burgeoning population and increasing food consumption worldwide. These challenges are overcome using SCADA, PLC, DCS, and MES systems to enhance productivity, save resources, minimize downtime, and maintain adherence to regulatory compliances.
The industrial services market in Asia Pacific is expected to grow significantly from 2020 to 2025 The growth in Asia Pacific is mainly attributed to the increasing adoption of industrial automation and related services in China, Japan, and India. With the growing trend of cloud connectivity in Asia, industries would adopt Industrial Internet of Things (IIoT)-based remote monitoring and predictive maintenance services. The downstream sector of Chinas oil & gas industry is undergoing remarkable developments and reformation to modernize refineries, fueling the demand for machine safety systems. The adoption of automation solutions in the manufacturing industries in India is increasing significantly. In addition, the growing number of power projects to meet the rising demand for electricity in India has provided momentum to implement machine safety systems such as burner management and fire and gas systems at plant locations. The need for quality control, worker safety, and improved productivity is also boosting the market for automation services in countries such as South Korea, Malaysia, Taiwan, Australia, and Singapore.
Major players in the industrial services market are ABB (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International (US), Schneider Electric (France), Rockwell Automation, Inc. (US), Siemens (Germany), Yokogawa Electric Corp. (Japan), Mitsubishi Electric Corporation (Japan), Metso Corporation (Finland), and Samson AG (Germany).
Don’t miss out on business opportunities in Industrial Services Market. Speak to our analyst and gain crucial industry insights that will help your business grow. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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2023.06.05 19:17 misssarcasm 2013 Countryman S (F60?) maintenance schedule
I know basically nothing about car maintenance, let alone for Minis. I know you can google maintenance schedules but the ones that the dealerships give are really extensive. I know Minis need a lot of maintenance still but I'm wondering if there's a more simplified schedule that is still realistically going to keep everything good.
Prior to today (when I found out the air filter hadn't been replaced since 2019 and was causing problems) I basically only knew that you had to get oil changed. So I'm a bit overwhelmed about where to go from here.
EDIT: R60 not F60 lol
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2023.06.05 16:58 spunchy M&B 2023 Lecture 6: Federal Funds, Final Settlement
| For our schedule and links to other discussions, see the Money and Banking 2023 master post. This is the discussion thread for Economics of Money and Banking Lecture 6: Federal Funds, Final Settlement. This lecture describes how the money market can help allocate reserves among banks to allow them to meet their settlement constraints. This works just like in Lecture 5, when the clearinghouse members borrowed from each other to be able to settle at the end of the day. Through the lens of the money market, we highlight the distinction between dealers and brokers as well as the distinction between payment and funding. These topics will come up again and again throughout the course. The "Fed Funds" market, in particular, is what we call the part of the money market where US banks lend reserves to each other overnight. Since 2008, US banks have enough reserves that they don't regularly meet each other in the money market anymore. But others do. And the principles of the money market that we explore in this lecture are still valid today. Perry Mehrling says: The relative importance of the various money markets has changed since the 2008 crisis—Fed Funds is now less important—but the conceptual framework remains valid, indeed not only for dollar money markets but also for non-dollar money markets. Below is a 2017 article from Cleveland Fed "Economic Commentary" that describes how the Fed Funds market changed between 2008 and then. In this environment, the institutions willing to lend in the federal funds market are institutions whose reserve accounts at the Fed are not interest-bearing. These include government-sponsored entities (GSEs) such as the Federal Home Loan Banks (FHLBs). The institutions willing to borrow are institutions that do not face the FDIC’s new capital requirements and do have interest-bearing accounts with the Fed. These include many foreign banks. As such, the federal funds market has evolved into a market in which the FHLBs lend to foreign banks, which then arbitrage the difference between the federal funds rate and the rate on IOER. —The Federal Funds Market since the Financial Crisis Instead of a market that facilitates payments, the Fed Funds market looks more like a market for regulatory arbitrage. If all reserve accounts were interest-bearing and faced the same capital requirements, we might not have a Fed Funds market at all. Before the financial crisis, the federal funds market was an interbank market in which the largest players on both the demand and supply sides were domestic commercial banks, and in which rates were set bilaterally between the lending and borrowing banks. The main drivers of activity in this market were daily idiosyncratic liquidity shocks, along with the need to fulfill reserve requirements. Rates were set based on the quantity of funds available in the market and the perceived risk of the borrower. —The Federal Funds Market since the Financial Crisis Next is a blog post from last year by Daniel Neilson that reflects on the Fed Funds market as the Fed raises interest rates. For example, Minsky noted that if banks could easily borrow in the fed funds market, they would be less inclined to hold precautionary levels of unborrowed reserves. At a systemic level, the same amount of reserves would support a larger amount of credit, reducing systemic liquidity. The longer the boom has gone on, the more time this process will have had to play out, and so the more fragile financial arrangements will be. —Positive Interest: Federal funds, then and now Minsky observed that the money market is a system of "just-in-time" reserves. As long as the money market is functioning, banks don't need to hold any reserves to make the payments system go. But this forces the payments system to become dependent on the money market. The fact that today's banks have lots of excess reserves reinforces the idea that today's Fed Funds market is not the money market that Minsky was describing. It's doing something different. Also from Perry Mehrling: The lectures were developed over 15 years and filmed fall 2012, and much has changed since then, in particular strong regulatory shift to secured away from unsecured credit. Still interbank lending is key to creating one big bank, now globally and secured. Even if domestic US banks no longer need the money market, there remain other institutions that do. Non-bank financial institutions, foreign banks, corporations, and governments all use the money market. Lecture 7 will examine the market for repurchase agreements (repo), which is the modern money market. Repo is a form of money-market lending secured with collateral. Part 1: FT: European Bank Deleveraging From a balance sheet perspective, capital—in the sense of "net worth"—is just whatever assets are not offset by liabilities. The idea of having a capital buffer to "absorb" losses just means that you have extra assets available to cover your liabilities if some of your assets lose their value. The amount of extra assets you're required to hold is going to depend on the quality of your assets and the likelihood that you'll have to write them down/off. Here's the set of balance sheets that Perry draws on the board: https://preview.redd.it/zmtq0bs5q74b1.png?width=808&format=png&auto=webp&s=2ad0d7f2f4389ffa7dded2cba5684315d9ded612 These balance sheets are a little confusing because they don't actually show capital increasing. What they show is banks' assets being replaced with cash, which will allow their balance sheets to shrink back down, thereby allowing their existing capital to take up a greater proportion of their balance sheet. To satisfy their capital requirements, the European banks could have increased their capital—i.e., added extra assets. But instead, they opted to replace their risky assets (property loans) with safer assets (cash). So far, they're just swapping one asset for another asset. The balance sheet is staying the same size, minus the hit they take to their assets for possibly selling the property loans at fire-sale prices. The next step is to shrink the balance sheet on both sides: https://preview.redd.it/i49nvk18q74b1.png?width=561&format=png&auto=webp&s=7ac73a2597dc81250a82f07ef30a52c979694869 Here, banks are allowing previous loans to be repaid without issuing new ones (A), which leads to a shrinkage of both loans and deposits. At the same time, banks are repaying their short-term debt using cash (B). They possibly received the cash from the sale of property loans shown in the previous set of balance sheets. This part of the lecture also introduces the distinction between three different segments of the money market: - Fed Funds
- Repo
- Eurodollars
There is really just one money market. These are all different aspects of the same money market. And today's money market largely operates through repo. Part 2: What are Fed Funds? The Fed Funds market is a market for banks to borrow reserves (deposits at the Fed) from each other overnight. It does not involve borrowing from the Fed itself. Fed Funds represents an expansion of credit within a single level of the hierarchy. Before 2008, the Fed indirectly targeted the Fed Funds rate to speed up and slow down the economy. A higher Fed Funds rate would correspond with tighter credit and a lower Fed Funds rate would correspond with easier credit. For a few years after 2008, the Fed Funds rate was stuck at zero. Since then, the Fed Funds rate has risen and fallen, but the mechanism has changed. Instead of adjusting the amount of reserves in the banking system, the Fed just pays interest on the reserves that the banking system holds. You're generally not going to lend reserves at a rate that's lower than what you can get by holding onto them. Here's a description of Fed Funds and interest on reserves from the New York Fed, frozen in time from 2013: Part 3: Payment settlement versus Required Reserves According to Stigum, banks use the Fed Funds market to achieve two main objectives: settling with the Fed at the end of the day and meeting reserve requirements. After 2008 though, banks were so over-stuffed with reserves that there was never any danger of failing to meet reserve requirements. The banks were no longer reserve-constrained. After Covid hit in March of 2020, the Fed removed reserve requirements altogether. The lecture suggests that the Fed Funds market is still marginally useful for daily settlement in the payments system. I'm not convinced. Part 4: Payment elasticity/discipline, Public and Private During the day, banks make payments to each other through the Fed's Fedwire payments system. This system allows banks to pay via overdraft if they run out of reserves. If Bank A pays Bank B using a daylight overdraft at the Fed, that automatically adds new reserves (actual money) to Bank B's deposit account at the Fed. https://preview.redd.it/ejd0e29aq74b1.png?width=815&format=png&auto=webp&s=f6996cdfa3468f264f755850a463a2953848020f This is called a Real-Time Gross Settlement System (RTGS) because the payment happens immediately (real-time), and it can happen through a balance-sheet expansion (gross) when insufficient existing reserves are available. The one-big-bank credit-based payments system from Lecture 5 was another example of an RTGS. But Fedwire doesn't accept gross settlement forever. The Fed's daytime balance-sheet expansion is meant to automatically collapse back down at the end of the day when all the banks settle with the Fed. The expansion of overdrafts during the day highlights the credit-based nature of the payment system. This is perhaps closer to how the payment system worked prior to 2008. Since 2008, the part of the payment system that the Fed interfaces with directly has looked less like this. As you can see in the below chart, the volume of daylight overdrafts tanked after 2008. https://preview.redd.it/umz26v3cq74b1.jpg?width=600&format=pjpg&auto=webp&s=93b335efd21c349222813375f09b232eb94c7f31 We can compare this to bank reserves, which were are on the order of $42 billion pre-crisis and were recently closer to $1.5 trillion before starting to blow up even further in March and April of 2020. https://preview.redd.it/nlccxuddq74b1.png?width=1318&format=png&auto=webp&s=8a7690335d6c18061728bd347b6fdbbe71c9f7da It seems that US commercial banks aren't coming up against the settlement constraint as much these days. This tension is perhaps being pushed to other parts of the system. US Commercial banks may have plenty of reserves, but perhaps there are other institutions that might not. The Clearing House Interbank Payments System (CHIPS) CHIPS is a private clearing system run by The Clearing House, which is the modern name for what was originally the New York Clearing House Association we discussed in Lectures 3 and 5. Daytime expansion and contraction of credit happens on the balance sheet of CHIPS as well. Instead of overdrafts, members post collateral at the beginning of the day and record due to's and due from's throughout the day. https://preview.redd.it/28wf4t8fq74b1.png?width=1093&format=png&auto=webp&s=f5935a4d78c67ffba771328a274e05eec15e878c Unlike reserve deposits at the Fed, banks don't treat the liabilities (due from's) of CHIPS as reserves/money. This means that CHIPS is not an RTGS. Banks wait until the end of the day to clear with CHIPS and settle their remaining cash commitments over Fedwire. That's when the reserves actually flow. The Fed sits above CHIPS in the hierarchy of money and credit. As of 2017, in addition to CHIPS, the Clearing House also provides an RTGS called Real-Time Payments (RTP). And the Fed is planning to launch a 24/7 RTGS called FedNow in July 2023. Part 5: The Function of the Fed Funds Market In a closed system, the payments surpluses and deficits at the end of the day always net out to zero. The surplus and deficit agents just need to find each other. That's what the money market facilitates. The creation of a Fed Funds loan moves reserves from a surplus agent to a deficit agent. https://preview.redd.it/4xysr0bxq74b1.png?width=818&format=png&auto=webp&s=f4f80f276be0f66ae1eea6128a8e568d617048f2 Here's a set of balance sheets that shows how daylight overdraft payments cause an expansion of the Fed's balance sheet that then contracts back down again after the deficit agent (Bank A) borrows reserves in the Fed Funds market. https://preview.redd.it/nx893pgzq74b1.png?width=1116&format=png&auto=webp&s=b375f3047b3e04dded42a9ed0ac4dfb1ab0c0453 Notice that the Fed Funds loan remains. At the end of the day, the expansion of credit is still there. It's just no longer on the balance sheet of the Fed. From the lecture notes: To appreciate the importance of this constraint at the end of the day, it is useful to appreciate the way that banks are allowed to relax the survival constraint during the day. Indeed that violation is essential for the smooth working of the payments system because it allows banks to be the “first mover”, to make payments before they receive payments. The institutional form that violation takes is the “daylight overdraft”. —Lecture Notes But it's also true that Bank A could have borrowed in the Fed Funds market first instead of paying via overdraft only to borrow Fed Funds to repay the overdraft later. https://preview.redd.it/o25221t7r74b1.png?width=1066&format=png&auto=webp&s=3ad3bdc27cb13eeba39e8dc322684385b5416816 In the first case, the Fed's balance sheet expands and then contracts back down. In the second case, the Fed's balance sheet stays the same size throughout. In either case, Bank A has "paid" Bank B by promising to pay the next day. The asset Bank B receives as payment is a Fed Funds loan instead of reserves. Stigum makes a point that some banks are natural sellers of funds and others are natural buyers. Put another way, the regular business of some banks causes their daily cash inflow to exceed their daily cash outflow, and for some other banks it is just the reverse. Concretely, it seems that the former are small banks in isolated areas that don’t face much demand for loans, while the latter are large city banks that can lend out all their deposits plus more. So the Fed Funds market channels excess funds from the country banks to the city banks. Viewed in this way, we can think of the Fed Funds market as analogous to the older pattern of correspondent banking. This country-city flow was largely intra-regional in the past, and so it remains today. (The regional character of correspondent banking is reflected in the location of the 12 Federal Reserve Banks.) —Lecture Notes Part 6: Payment versus Funding: an example Here are the balance sheets from the mortgage example in the lecture. https://preview.redd.it/qb2pl7v9r74b1.png?width=1157&format=png&auto=webp&s=698752bd2bc3e5c57c28f131e04cca48599c72d0 These balance sheets show HSBC starting with reserves. But all of this can still work if nobody starts with any reserves. The necessary reserves can be created through daylight overdrafts to be eliminated at the end of the day. https://preview.redd.it/4ox0zucbr74b1.png?width=1154&format=png&auto=webp&s=34713b86dc9d29cb64a9f6c6c1124b343b74c57c I've left out the balance sheet of the Fed. In the background, the Fed acts as an intermediary, expanding and contracting reserves and overdrafts by expanding and contracting its balance sheet on both sides. After all this is done, Citibank has a mortgage loan asset that is funded by overnight money. Clearly this is not ideal funding, and the bank has some more work to do, but we leave that aside for the moment to concentrate on the payment rather than the ultimate funding. (The issue of ultimate funding is centrally addressed in Lecture 17.) —Lecture Notes Notice that the seller of the house is indirectly funding the mortgage loan to the buyer of the house. This might seem strange. But it's really just an extension of the swap of IOUs. When I borrow from a bank, I am funding my own loan. https://preview.redd.it/em29vzrcr74b1.png?width=783&format=png&auto=webp&s=a5e3096749efd7b7d50f5e61d99059921896f378 Payments, on their own, can benefit from a temporary expansion of credit that then contracts back down once the payment is complete. Funding is an expansion of credit that remains on the books for a period of time to allow someone to establish and maintain a position on their balance sheet. For example, if I invest in a project that's expected to provide a return over time, I might take out a loan to fund that project. In this case, from the perspective of the home buyer's balance sheet, the mortgage is a long-term loan that funds ownership of the house. And from the perspective of Citibank, the Fed Funds loan funds the ownership of the mortgage. Because HSBC is both borrowing and lending Fed Funds, that makes HSBC like a dealer in the Fed Funds market. Dealers are going to continue to come up in this course. The home-buying example shows the mechanics of how HSBC might act as a dealer in the Fed Funds market. The key thing to remember about dealers is that they act as both buyers and sellers in the market. If there are plenty of dealers in a market, then there's always someone to buy from and always someone to sell to (at different prices). In other words, the market is liquid. If there's nobody to buy from and nobody to sell to, then there is no market. So, in the sense that dealers offer to do both, they're "making markets." Withdrawing Lots of Cash Here's what happens if you withdraw your deposits in cash after selling the house: https://preview.redd.it/9rzrx3yer74b1.png?width=1101&format=png&auto=webp&s=e6a85518233dc409f056f0fbd49b0e3652bf299f Chase's balance sheet has contracted and you end up holding liabilities of the Fed (cash) as money. Part 7: Brokers versus Dealers https://preview.redd.it/xex9mljgr74b1.png?width=813&format=png&auto=webp&s=a815aad5e6de430d60a2ff408a6b3e89ef2b5d74 The Fed Funds market was never really a dealer market, in the sense that nobody made a business out of simultaneously borrowing and lending in the Fed Funds market to profit from the interest rate spread. If a bank was both borrowing and lending Fed Funds at the same time, it was usually just a side effect of some other activity. For present purposes, the important point is that dealing activity expands the balance sheet of the dealer, while simple brokering does not. —Lecture Notes Part 8: Payments Imbalances and the Fed Funds Rate The money market helps the balance sheet of the Fed shrink back down. But it doesn't shrink overall credit. The credit just moves off the balance sheet of the Fed and CHIPS and onto the balance sheets of the private banks and the money-market borrowers and lenders. Payment imbalances (after netting) in a reserve-constrained system manifest as an expansion of balance sheets in the money market. Because the Fed Funds market is a market, the Fed Funds rate is a market rate. It is not a single rate but an average of all the rates banks pay in the market. The Fed participates in the money market in various ways. Primarily, they offer standing borrowing and lending facilities. There are prices at which the market can always borrow from the Fed through, for example, the discount window, or the standing repo facility. There are also prices at which the market can lend to the Fed, such as the overnight reverse repo facility. These facilities are set at fixed rates. If the money-market rate moves away from the Fed's standing rates, nobody will go to the Fed. The Fed does not technically participate in the Fed Funds market because the Fed Funds market is defined to be a part of the money market that's not on the balance sheet of the Fed. It's also unsecured. The Fed's standing facilities require collateral. The Fed also participates in the open money market at the market rate to manipulate the quantity of reserves in the system. These actions are called "open-market opertaions," and they normally use repo—i.e. collateralized money-market lending and borrowing. https://preview.redd.it/zdf15wtir74b1.png?width=813&format=png&auto=webp&s=4cfd1b006a5f991b4ac8eed5c77e683ebaa46c16 Part 9: Secured versus Unsecured Interbank Credit The mortgage loan is secured by the house as collateral. If you fail to pay the mortgage, the bank takes your house. Fed Funds lending, on the other hand, is unsecured. There is no collateral. While it's true that nobody is pledging (or taking) collateral, the banks are in a network, and they know each other. They're always keeping track of their exposures, and they impose limits on how much they want to lend to any given counterparty. They keep a diversified portfolio of Fed Funds lending. When people stop trusting each other, they stop lending unsecured. Repos are a form of secured money-market lending that often has Treasury Bills as collateral. Part 10: Required Reserves, redux Mehrling says that reserve requirements are the least important part of how banking works. If there's always a price at which banks can borrow their needed reserves, then what matters is that price, not the reserve requirements. This was true even before 2008. Since 2008, banks don't typically need to borrow reserves anyway. They hold excess reserves well above the requirements. Not every country even has reserve requirements. And, as of the Covid Crisis, neither does the United States. It's not clear to me whether this made much of a difference or whether reserve requirements will ever be coming back. In a world of modern (and global) finance with shadow banking and market-based credit creation outside of the commercial banking system, it can be a challenge to regulate credit creation/expansion. Please post any questions and comments below. We will have a one-hour live discussion of Lecture 5 and Lecture 6 on Monday, June 5th, at 2:00pm EDT. submitted by spunchy to moneyview [link] [comments] |
2023.06.05 14:11 Net_Admin_Mike KDMax Pro v10.0 is LIVE now!
After some internal discussion amongst the KDMax Pro Tuning Group, our improved KDMax Pro v10.0 tune is LIVE!!! Come see why this is the very best tune available for your Tacoma, Tundra, or 4Runner today!
The team has worked to further refine our tune, with notable gains in horsepower and torque, as well as even smoother shifting than our v9.0 tune. This is confirmed with dyno results, as seen here. Note, that our dyno results were all produced on the same day, on the same dyno, using the same truck - a 2016 Tacoma, lifted on 33" tires with stock gears, stock intake and exhaust, and running 87 octane fuel. The runs were performed in 4th gear, which provides the closest possible 1:1 gear ratio, and therefore the most accurate results at the rear wheels - no 3rd gear pulls here, artificially inflating the numbers! We've extensively monitored and tested this tune as well to be certain it is SAFE and will not negatively impact the famous Toyota reliability we all know and love!
At KDMax it has always been, and will continue to be, our goal to provide you with best balance of power, drivability, and reliability with our tune, along with unparalleled, professional customer service! Our goal is see every owner leave happy, every time! If you've been on the fence about getting your truck tuned for the first time or considering trying out the KDMax offering, there's never been a better time to come see us! Our nationwide network of pro-tuners will take outstanding care of you!
Contact me today to schedule your appointment in the Upstate New York region, or check out our locator map at
https://kdmaxprotuning.com to find the pro-tuner nearest to you!
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2023.06.05 13:24 TheLastMojojomo MAX and WEAK EV States - Why your Toyota Prius/Hybrid is getting LOW MPG.
This Post is the comprehensive write-up adjunct to the original video post here:
If you have not watched the video post yet... please watch first as the post below will make much more sense if you do so.
TL/DR:
MAX and WEAK EV States are terms I created to describe a Low MPG mechanism that affects Toyota Prius/Hybrid City MPG's potentially by 5-10+.
The EV States are software parameters in the Hybrid Control ECU that change how EV Mode behaves at city speeds (0-40ish MPH).
A MAX EV State Prius uses EV Mode Agressively to accelerate and maintain speed in city traffic during a wide range of State of Charges without the Combustion Engine kicking on... causing the Prius to get the EPA estimated mpgs for city or better.
A WEAK EV State Prius never uses EV Mode Aggressively in City traffic at any State of Charge or any circumstance... Instead the Internal Combustion Engine will kick on with little pedal pressure to deliver power instead of using the HV Battery like the MAX EV State. This causes mpgs to be frequently lower than EPA estimates by 5-10+.
Above 40 mphish when the Prius engine needs to run all the time due to how the transmission works, or when flooring it, EV/Engine Power Output behavior are the same for both the MAX and WEAK EV State and MPG is also the same after this point... so highway mpgs are largely unaffected.
A Toyota Prius/Hybrid will be reset to the WEAK EV State after a 12v Disconnect, and is supposed to revert to the MAX EV State after periods of driving as part of it's software programming. But this does not always happen and sometimes the Prius will become stuck in the WEAK EV State for years, 10,000s of miles, or potentially forever... chronically reducing MPG's.
The problem is there is nothing that shows these EV States exist outright. No code, parameter, or statement has been released by Toyota that shows the EV States exist or describes why they happen... It's essentially a phantom issue residing in the software engineering of the Prius that changes how EV Mode behaves, reducing mpg. You can measure the behavioral differences the EV States cause, but no one has done that yet. I am trying to change that.
My Prius has been stuck in the WEAK EV State for 3+ years and 50,000 miles at this point after a 12v Disconnect... Because of this I have not been able to measure the MAX EV State.
To make a proveable case about this issue, I will need help from the Prius Community to make the necessary measurements for the MAX EV State.
This post is my attempt to build a case with all the evidence I can find to prove these EV States exist. After presenting all of this evidence, I hope to garner help from the Prius Community to prove the EV States indefinitely by measuring the MAX EV State... either by testing someone's MAX EV State Prius myself... or having that Prius owner test their Prius for me.
I believe Toyota has actually already been sued for this WEAK EV State I've described, but the cause of the Low MPG wasn't understood. This could be laying the groundwork for a massive lawsuit agaisnt Toyota... But that is not my intention... I would just like answers and to get my Prius MPG back.
Due to My Prius being stuck in the WEAK EV State, It has cost me around $3 a day in gas for every USPS mail route I do with my Prius due to the stop & go nature of the 106 Route miles I drive delivering mail. In total, I have lost between $1,500-$2,000 in gas over the 6 years I've owned my Prius because of this.
Millions of other Toyota Prius/Hybrid Owners have also been effected by this WEAK EV State Low MPG Mechanism either temporarily or chronically (and potentially lost $100's to $1,000's on gas), as there have been many other posts by Prius/Toyota Hybrid owners about it.
Here is the link to the Comprehensive post that should clear up any questions.
If you'd like to help me solve this issue, feel free to contact me.
What are MAX and WEAK EV States?
MAX and WEAK EV States are terms I created to describe how Aggressively a Prius (or other Toyota Hybrid) uses EV Mode between 0-40MPHish.
The MAX and WEAK EV States are Binary. You're Prius is either in the MAX EV State or WEAK EV State. It can't be both at the same time or somewhere in between. The EV States are likely software parameters regulated by the Hybrid Control ECU.
The EV States determine the relationship between Accelerator Pedal Angle to EV Mode useage (and the power output EV Mode produces) in relation to a specific Hybrid Battery State Of Charge percentage until the Internal Combustion Engine kicks on to help deliver power.
Total power output between the MAX and WEAK EV States are the same. The only thing the MAX and WEAK EV States do is change what component (Electric Motor or Combustion Engine) delivers the power output to drive the wheels between speeds of 0-40ish MPH. A MAX EV State Prius favors the Electric Motor (MG2) using charge from the Hybrid Battery, increasing MPG. A WEAK EV State Prius favors the Combustion Engine, decreasing MPG. The same power output is always attempting to be delivered in both the MAX and WEAK EV State for a specific Pedal Angle, but the EV States via software change what component is doing the work, either the Electric Motor or Combustion Engine.
Macro Conditions for when the MAX and WEAK EV State behave the same.
There are some Macro Conditions for when the EV States behave the same.
Above 40ish MPH, when flooring it, or below 4 of 8 Charge bars, the Prius delivers power in the exact same way whether in the MAX or WEAK EV State.
Above 40ish MPH, there is a point where the Prius Combustion Engine is required to run at a low speed at all times in order to protect the Planetary Gearset transmission. At this point the difference between how the MAX and WEAK EV State deliver power cease. Combustion Engine and Electric Motor power are delivered in the exact same way in relation to Pedal Angle for both the MAX and WEAK EV State, as long as speed is above 40ish MPH.
The same thing also occurs under "flooring it conditions". The Combustion Engine and Electric Motors work together to deliver Maximum power output in the exact same way at any speed as long as the "Pedal is Floored". Doesn't matter if the Prius is in the MAX or WEAK EV State. Maximum power output is never effected.
At 3 of 8 Battery Charge Display bars, the difference between the MAX and WEAK EV State also largely cease to exist. The Hybrid Battery is getting low on charge at this point so the Combustion Engine takes over a significant amount of the power output in a similar way for both the MAX and WEAK EV State until a higher State of Charge is achieved through Regenerative Braking, or the Combustion Engine generating electricity via MG1. You can't tell the difference between the two EV States at 3 of 8 charge bars as EV Output and Engine Output behave the exact same.
Outside of those three scenarios, MAX and WEAK EV States behave completely differently. There are still complications and nuances that can occur, those will be explained later.
The Difference Between MAX and WEAK EV State Behavior.
A MAX EV State Prius will have aggressive EV Mode usage between 4-8 bars of charge on the Hybrid Battery Display (50%-75%+ State of Charge) at City Speeds (0-40ish MPH). You will be able to accelerate from a stop moderately quickly in EV Mode without the Combustion Engine kicking on. You will also be able to maintain speed in city traffic, accelerating and decelerating in EV Mode with the eb and flow of traffic easily for multiple blocks or even miles depending on State of Charge. Pedal Angle allowed for EV Mode in the MAX EV State caps out at around 80% at 8 of 8 Charge bars and slowly decreases as the Charge Bars decrease. This allows for the EPA estimated City MPG'S or better.
For a WEAK EV State Prius you will never get Aggressive EV Mode useage in any circumstance for city speeds (0-40ish MPH). Even at 8 of 8 Charge bars on the Battery Display (75%+ State of Charge), you have to accelerate very lightly in EV Mode. Light Pedal Pressure will always cause the Combustion Engine to turn-on to deliver power instead of the Electric Motors. You can't accelerate moderately aggressively from a stop without the Combustion Engine kicking on, or Accelerate and Decelerate in EV Mode during the eb and flow of moving traffic with ease. Once your Prius drops below 6 of 8 Charge Bars (57% State of Charge)... you basically get 0 EV Mode acceleration whatsoever. The engine almost instantly kicks on anytime you press the gas pedal. The onlytime at this point you can stay in EV Mode is when accelerating/maintaing speed very lightly on a decline. Pedal Angle allowed for EV Mode Caps out at around 40% for 8 of 8 Charge Bars in the WEAK EV State and slowly decreases as the Charge Bars decrease. This causes the Prius to get 5-10+ worse City MPG's than the EPA estimate.
A Quick example Comparing the EV States:
For a WEAK EV State Gen 2 Prius, when traveling between 15-40mph with a Hybrid Battery State Of Charge of 70%, Accelerator Pedal Angle for EV Mode will cap out at 35% before the Combustion Engine kicks on to supplement power.
If it were a MAX EV State Prius, everything else being constant, Pedal Angle for EV Mode would cap out at around 70% before the Combustion Engine kicks on, a significant increase. EV Mode power scales with the increased Pedal Angle allowed for EV Mode... so you get much more aggressive EV Mode useage and better MPG as a result.
I have not been able to measure the exacts of the MAX EV State yet so I'm unsure of the exact Pedal Angles allowed and the above paragraph is a ballpark estimate... More on this later and why I need help.
How the Hybrid Control ECU (HV ECU) regulates EV Output.
The Hybrid Control ECU (HV ECU) is essentially the Master Brain of the Prius. All other ECU's talk to the HV ECU. The HV ECU then dictates power output between the Combustion Engine and Electric Motors to achieve a certain amount of power in response to various conditions like, Speed, Pedal Angle, how Hot/Cold the Hybrid Battery, State of Charge, or whether the Prius is in the MAX or WEAK EV State.
So we know now that the HV ECU decides how to balance power output between the Combustion Engine and Electric Motors/Hybrid Battery to get a specified amount of power in relation to certain Pedal Angles and other Conditions.
So for an example of a Condition that can change the level of power output between the Combustion Engine and Electric Motors... let's use a cold Hybrid Battery.
Say your Prius sat overnight in the cold and your Hybrid Battery is 25°F (‐4°C) when you leave for your morning commute. First thing you do is Merge your Prius on to the highway using a 100% Accelerator Pedal Angle (Full Throttle).
Because Drawing a large amount of power from a 25°F Hybrid Battery is bad for the NiMh Battery Chemistry and can potentially damage it, the Hybrid Control ECU (HV ECU) will step in to regulate things as it is programmed to do.
Since the Hybrid Battery is cold, and the Hybrid Battery ECU inside the Hybrid Battery is communicating to the HV ECU using temperature sensors placed on the Hybrid Battery that state it's only 25°F... the HV ECU tells the Inverter and Electric Motors to draw less power from the Hybrid Battery, and instead rely more on the Combustion Engine to provide power to accelerate.
Instead of drawing close to 100 amps of current if the Hybrid Battery were at an optimal temperature, the HV ECU tells the Electric Motors to draw close to 40 amps of current due to the cold for the same 100% Pedal Angle. The HV ECU is changing how much power the Hybrid Battery delivers.
Inversely in this Cold Hybrid Battery scenario, the Combustion Engine attempts to compensate for this loss of EV Power by revving higher quicker to provide more power output to achieve the same level of power the 100% Pedal Angle is requesting Because the Electric Motors can't provide it.
When the Hybrid Battery is at an optimal temperature, the Combustion Engine will not Rev as high because more of the Burden of power delivery is being shifted to the Hybrid Battery/Electric Motors for that same 100% Pedal Angle to achieve that specific amount of power that 100% Pedal Angle is requesting.
All of this is regulated by the HV ECU.
In the same vein as the Cold Hybrid Battery example above, The EV States are essentially Software Parameters in the HV ECU that tell the Prius to either favor EV Mode (MAX EV State) or the Combustion Engine (WEAK EV State) to deliver power only between 0-40ish MPH.
Think of the EV States as Master Software Settings that change the Maximum EV Output for speeds between 0-40ish MPH irrespective of any other factor that can influence EV Output like a Cold Hybrid Battery.
What triggers this Master Software Setting to transition from the WEAK EV State to MAX EV State is where the complications arise. It's much more complicated than something like a Cold Hybrid Battery preventing it from happening.
What Triggers the WEAK EV State and Why does it exist?
Triggering the WEAK EV is extremely easy. All you need to do is disconnect your 12V Battery, resetting all the Prius ECU's. As a consequence of the ECU's being reset, the Prius will be reset to the WEAK EV State.
The Prius resets to the WEAK EV State anytime the 12v is disconnected because the ECU's are reset. Everything from Hybrid Battery State Of Charge to the health of all the other related systems is forgotten.
If you were in the MAX EV State before the 12v Disconnect, that is also forgotten and you are reverted to the WEAK EV State.
The Prius being reset to the WEAK EV State is likely a protective mechanism programmed into the Hybrid Control ECU (HV ECU). The Prius then needs to verify certain parameters and conditions before the HV ECU transistions back to the MAX EV State where it uses EV Mode Aggressively at City Speeds like Hybrid Battery State Of Charge and overall Hybrid System health.
However, getting the MAX EV State to trigger again is complicated and why the Prius can become chronically stuck in the WEAK EV State, reducing City MPG's 5-10+ potentially forever.
Why is the MAX EV state so complicated to Trigger?
Unlike the WEAK EV State which is very easy to trigger simply from doing a 12v disconnect, transitioning back to the MAX EV State from the WEAK EV State is not simple at all.
The Hybrid Control ECU is likely looking to verify specific parameters and conditions before it transitions back to the MAX EV State and allows the Prius to start using EV Mode aggressively at City Speeds again.
If these parameters and conditions are never verified, or don't ever reach the right conditions to be verified, the Prius can remain in the WEAK EV State forever... chronically reducing MPG's potentially for years or 10's of thousands of miles.
What Specifically Activates the MAX EV State?
The MAX EV State will trigger permanently after certain conditions are met. However there is no explanation or released information from Toyota that says exactly what conditions/parameters need to be verified to trigger the MAX EV State... so the best I can do is make an educated guess based off of my own experience and other posts.
I believe the Primary condition that needs to be verified is the Health/State of Charge of the Hybrid Battery... and to do this the Prius needs to go through several drive cycles in a row of highway commuting under certain conditions.
For example, ambient temperatures may need to be above 50°F and the Hybrid Battery needs to be between 77°F-104°F (optimal Hybrid Battery Temp) for a certain amount of time during the commute.
Cruise control use may also be needed as the constant rpm's at high speeds allows for the Prius to keep the Hybrid Battery at a specific State of Charge (around 60%) and tightly regulate charge in and out of the Hybrid Battery allowing the Hybrid Control ECU to make specific measurements.
After attaining these specific conditions, the Prius Computers, primarily the HV ECU, will then take certain measurements that verifies the health and State of Charge of the Hybrid Battery. The Prius needs to do this for multiple Drive Cycles in a row.
After the HV ECU gives a pass condition for the the parameters it is attempting to verify... the MAX EV State will engage permanently and EV Mode will be used much more aggressively until the next 12v disconnect... which resets the Prius to the WEAK EV State.
This process is very similar to drive cycles required to verify emissions monitors... something similar happens in the Hybrid System that tells the Prius to use EV Mode Aggressively, it's just not shown as a viewable computer parameter like emissions monitors are.
My Experience Activating the MAX EV State.
To get the full background of my experience with the MAX and WEAK EV State, you can read my Prius Low MPG Story here. But to summarize I initially spent a long stint in the WEAK EV State between 2017-2019... over 2 years and 20,000+ miles using my Prius on USPS Mail Routes with lots of stop and go driving. I believe this prevented the MAX EV State from Activating.
Then in Summer of 2019... I began doing frequent long highway commutes multiple days in a row without doing mail routes in between. Over the course of 3 days of doing these easy on the car highway commutes... my EV Mode power for city speeds suddenly increased significantly.
Midway back from the commute coming off of the highway on the 3rdish day... my Prius began to use EV Mode aggressively... and this persisted permanently from that point forward.
This also maintained on mail routes. I could clear whole back roads and multiple city blocks in EV Mode while delivering mail that I couldn't before... and my MPG increased from 35 to 45+ on mail routes.
The factor that changed everything was the long highway commute multiple drive cycles in a row.
To verify this further... in the following Summer Months I disconnected my 12v Battery twice while doing maintenance... resetting my Prius to the WEAK EV State. After the 12v Disconnect, I lost my aggressive EV Mode useage and increased City MPG'S.
Then after doing frequent long highway commuting multiple drive cycles in a row over the course of 2-4 days... the MAX EV State would activate again and stay this way permanently both times I disconnected the 12v during the summer.
In early 2020 I disconnected my 12v again and reverted to the WEAK EV State. Unfortunately for the past 3 years now and over 50,000+ miles I have been stuck in the WEAK EV State ever since. Again, if you want the full story, read my low mpg story post.
Evidence for the MAX and WEAK EV States existence.
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2023.06.05 02:14 tyelf22 Clunk sound on bumps
Anyone know what might be making this sound in my 2019 Toyota Tacoma? It happens when going over dips like this.
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2023.06.05 02:13 tyelf22 Tacoma making clunk sound
2023.06.05 00:10 spunchy M&B Lecture 5: The Central Bank as a Clearinghouse
| For our schedule and links to other discussions, see the Money and Banking 2023 master post. This is the discussion thread for Economics of Money and Banking Lecture 5: The Central Bank as a Clearinghouse. The lecture begins our discussion of banking as a payments system. We start with the interconnectedness of bank balance sheets that allow the payment system to operate smoothly. The central bank helps knit the payment system together to approximate the behavior of one big bank. We cover correspondent banking and central bank cooperation. Part 1: FT: Martin Wolf on QE3 As the press release of the open market committee stated: “If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability.” This is also “consistent with its statutory mandate”, to foster “maximum employment and price stability”. —Bernanke makes a historic choice How should we understand QE3? The Fed promises to buy MBS, and possibly other assets, at a fixed and steady pace until employment improves. The immediate effect is to absorb such assets from elsewhere in the financial system. This is, in the first instance, a boost to the liquidity of these securities: when a big-time buyer is out there, it will be easier to sell, and knowing that a big-time buyer will continue to be out there, others will be more likely to buy. — QE3 The Money View I've added "Builders" to the balance sheet from the blog post to show where the money goes and where the houses come from: https://preview.redd.it/q8ui8v69o24b1.png?width=1133&format=png&auto=webp&s=c24e93eb8e763849022eada0aa4974edf9433170 At the highest level, finally, does QE3 get at what is keeping aggregate demand down? If the problem remains, still, overindebted households unwilling to increase their demand for newly produced goods and services, then this liquidity-providing operation will have very little effect. If there is too much debt out there, and it is to be reduced, someone will have to write that debt down against equity. This is not a feature of QE3 as announced. — QE3 The Money View The goal was to return to nominal GDP trend, but we were falling further behind. Part 2: One Big Bank The payments system functions as if it were operating on the balance sheet of one big bank. Everyone can pay each other using bank deposits as if all bank deposits were equivalent. The IMF works more like a "pure money" one-big-bank system. Its balance sheet does not expand or contract as countries make payments to one another. In a "pure money" one-big-bank system, the quantity of money (deposits) doesn't change. Depositors pay each other by assignment, which appears as novation on the balance sheet of the bank: one deposit account takes on liabilities previously held by another: https://preview.redd.it/7ifoequao24b1.png?width=847&format=png&auto=webp&s=21f2884c7dced3a3839116a8e10b37d0a6c556c1 The Fed works more like a credit system. A "pure credit" one-big-bank system has no reserves. Instead, surplus agents have deposits at the bank, which they hold as assets. Deficit agents have "overdrafts" at the bank, which are their liabilities. https://preview.redd.it/uk0qf9bco24b1.png?width=268&format=png&auto=webp&s=d832d2aaddc01d60a136d952e481eee72e00d3b3 Depositors make payments through the bank. Below is the matrix from the lecture that shows whether the bank's balance sheet expands, contracts, or stays the same size. Payers are on the vertical axis. Payees are on the horizontal axis. https://preview.redd.it/p1wimxoeo24b1.png?width=125&format=png&auto=webp&s=11760b09ddf1761033e5fdbbe923a48d1a7db085 Surplus agents pay each other by assigning deposits. Deficit agents pay each other by novating overdrafts. Deficit agents pay surplus agents by issuance, intermediated by the bank. Surplus agents pay deficit agents by set off, again intermediated by the bank. This matrix assumes that the bank's balance sheet expands only when necessary. It shrinks whenever possible. Otherwise, everybody could make all payments by issuance, and balance sheets would only ever expand. The Money Stock In a footnote to the lecture notes, Perry points out that the elasticity of credit makes it hard to define the size of the money stock. Note in passing that this way of thinking about the payments system raises deep questions about how properly to measure the money supply. —Lecture Notes He provides three options. - The sum of deposits.
- The sum of deposits minus overdrafts.
- The sum of deposits plus credit limits (the "minus" is a typo in the notes).
The first option is closest to how people usually think about the money supply. But in a world with the possibility for overdrafts, it doesn't measure agents' spending potential. The second option also doesn't measure people's overall purchasing power. If you're in a pure credit system, deposits and overdrafts exactly net out to zero, but we know there's purchasing power in the system. The third option reflects the idea that there's more gross purchasing power when people have higher credit limits. But credit limits don't appear on anyone's balance sheet. How do we measure them? The balance sheets tell the same story regardless of how you define or measure the money stock. Part 3: Multiple Banks, a challenge In the real world, the challenge is to knit multiple bank balance sheets together into a single payment system. When deposits move through the banking system, there is a notional flow of reserves behind the scenes. https://preview.redd.it/5fz7oyp1p24b1.png?width=558&format=png&auto=webp&s=f6baed3bb7fa55e9b9f3daa5da2c2d80a34178c9 Notice that reserves move (assignment) along with the deposits (novation). In quadruple-entry accounting, this is a transfer of portfolio. Bank A's balance sheet contracts on both sides while Bank B's balance sheet expandson both sides. In the example above, the consolidated balance sheet of the banking system as a whole remains the same size. Unlike with one big bank, the reserves matter. The deficit bank can run out of reserves and come up against the settlement constraint. There's more discipline than in a system with one big bank. Banks run the payments system by expanding and contracting their balance sheets on both sides. The net worth of neither the individual banks nor the banking system as a whole changes as depositors make payments to each other. If banks refused to run the payment system, it would force depositors to withdraw cash whenever they wanted to make payments. See the below set of balance sheets. https://preview.redd.it/x1tai1fzo24b1.png?width=1200&format=png&auto=webp&s=0e320bcd0a430e9035a0a8a89e8cee2d82bfa465 There are two scenarios here: A and B. Each is a different way for Depositor α at Bank A to pay Depositor γ at Bank B. Both start and end with the same balance-sheet positions. Scenario A has 5 steps: - A1: Bank A exchanges reserves for cash. This is a refinance operation with the central bank's balance sheet (not shown).
- A2: Depositor α withdraws the cash. This is an asset disintermediation.
- A3: α pays the cash to γ in payment by assignment.
- A4: γ deposits the cash into Bank B, which is an asset intermediation.
- A5: Bank B exchanges the cash back into reserves (deposits at the central bank).
The payment takes place outside the banking system. Whenever depositors are making payments in this way, the reserves are just gone from the system. It's more convenient for the banks to send the payment directly to the other bank instead of having depositors withdraw their money. This is scenario B. Making payments directly through account balances reduces the need for depositors to withdraw cash. It allows banks to economize on reserves. Offering demand deposits, therefore, basically forces banks to run the payments system. When appropriate, we can treat bank deposits as outside asset for our layer of the hierarchy simply by ignoring the balance sheets of the banks. Part 4: Reading: Charles F. Dunbar The reading for this Wednesday is a chapter by Charles Dunbar about how the United States checking system worked in the late 19th century before we had a central bank. Below is a simple representation of payment by check between depositors at two banks at the same level of the hierarchy. https://preview.redd.it/0ozi6korp24b1.png?width=901&format=png&auto=webp&s=3e879bf2b0a8134ccee9ecef03083a8adbfd2c0e Part 5: Correspondent banking, bilateral balances A check is an order to pay. Each bank receives orders to pay throughout the day and then nets them out. https://preview.redd.it/oblni8wup24b1.png?width=427&format=png&auto=webp&s=d9ad8403194efcbec07de0faf85591656125fb98 After they clear by netting out offsetting promises to pay, the banks could settle the difference by paying in reserves (transfer of portfolio). But it can be more convenient for the banks to have deposit accounts with each other. These are called correspondent balances. There are two ways to resolve a payment from a bank A customer to a payment to a bank B customer using correspondent balances: - A liability disintermediation that contracts A's balance sheet.
https://preview.redd.it/t58zbfdyp24b1.png?width=555&format=png&auto=webp&s=bcc188add9fc1d79f01421f61ce08330dfb0acbe - A liability intermediation that expands B's balance sheet.
https://preview.redd.it/kzicxvt1q24b1.png?width=556&format=png&auto=webp&s=94667d88cb0aa2115148ea194c21346c1440dbae In practice, there's a hierarchy of banks, and the small country banks will be the ones that hold deposit balances in the bigger city banks. The action will happen on the big bank's balance sheet. - Here's Perry's source on bankers' balances by Leonard Lyon Watkins: Bankers' Balances
Part 6: Correspondent banking, system network Here's a diagram similar to the one Mehrling draws on the board. Money-center Banks A and B have correspondent accounts at New York Bank C. Depositors α and β's banks have correspondent accounts at money-center Bank A. γ's bank has a correspondent account at Bank C, and λ's bank has a correspondent account at Bank B. https://preview.redd.it/r3h8b2d5q24b1.png?width=960&format=png&auto=webp&s=8bab35d6ea48ec0b63c5cf48cee5105f5d5e7630 There are multiple layers of the correspondent-banking hierarchy. The idea is to economize on reserves. Do as much netting as possible so reserves don't have to flow. Use credit as much as possible so reserves don't have to flow. Here's what it looks like (notionally) for α to pay λ. https://preview.redd.it/vvp29757q24b1.png?width=1065&format=png&auto=webp&s=5ade9969f7e31d9af86dadbf688f4ceca1a69c5b I've arranged the balance sheets so you can see the hierarchy. Each balance sheet uses as reserves deposits in the bank above it. This flow of reserves is only "notional" because it might be offset with a payment going in the opposite direction. In that case, no reserves will actually flow. Now imagine that λ has its correspondent account directly at money-center bank B. When α to pays λ, there is a contraction of deposits at an intermediate layer of the hierarchy. https://preview.redd.it/wjjy913aq24b1.png?width=1058&format=png&auto=webp&s=381d71e0fda9255a354d106f0ecbfe8bcc0a5705 From the perspective of α and λ, it's all the same. Note that, since the correspondent system is a credit system, we are not constrained by the quantity of gold, only by the various bi-lateral credit limits. —Lecture Notes The accumulation of orders to pay throughout the day is not constrained by reserves. Only the final settlement (after netting) is reserve-constrained. Part 7: Clearinghouse, normal operations Banks cooperating to form a clearinghouse is an example of the emergence of hierarchy. The banks are installing a layer of the hierarchy above themselves for the purpose of providing elasticity. That elasticity can then propagate further down the hierarchy. Here are some simple balance sheets showing the New York Clearinghouse Association. https://preview.redd.it/pez4wldeq24b1.png?width=557&format=png&auto=webp&s=8cad3a85eb4135191e20125e14ea08e75774f79d Clearinghouse certificates are notes that stand in for gold. They're not just promises to pay gold. Each note corresponds to gold that's actually held in reserve. All promised payments are mutual obligations of members of the clearinghouse. The credit of the aggregate is better than the credit of any individual bank. The clearinghouse is a credit system during the day but a money system when settling at the end of the day. If a member bank is a net debtor at the end of the day, it has to choose from the following options: - Pay with clearinghouse certificates.
- Borrow from another member.
- Default.
The second option is what we call a money market. The money market is the market where banks borrow reserves from each other short-term to meet payments deficits. In addition to facilitating the payments system, the money market can also fund longer-term positions that need to be continually rolled over. We'll talk about this more in future lectures. Here's a book about the history of clearinghouses that Merhling recommends. Part 8: Clearinghouse, private lender of last resort In times of stress, when member banks collectively lack sufficient reserves, the members can borrow from the clearinghouse itself. The clearinghouse funds the loan by issuing a clearinghouse loan certificate. Whereas the clearinghouse certificate is directly backed by gold, the clearinghouse loan certificate is backed by the loan instead. https://preview.redd.it/lmo33rj9584b1.png?width=554&format=png&auto=webp&s=c61fd5cb6577008b7d131241b6431f1fd05cde03 The Clearinghouse is a private lender of last resort. Clearinghouse loan certificates are like banknotes, but they're issued against member loans rather than the special 2% government bonds. Before 1907, it wasn't clear that they were legal. Sometimes, it was hard for the clearinghouse to get the loan certificates back because they paid so well. Here's a paper by the same author as the above book that describes clearinghouse loan certificates in more detail. Part 9: Central Bank Clearing https://preview.redd.it/c0vgk2gsq24b1.png?width=558&format=png&auto=webp&s=41b5c8c976f7874e647261e2cbda62ed6ccb3383 Central banking can be understood as nothing more than one step beyond the clearinghouse, a kind of regularization and strengthening of the clearinghouse system that goes the extra step of obliterating the difference between clearinghouse certificates and clearinghouse loan certificates. —Lecture Notes https://preview.redd.it/1t996zltq24b1.png?width=742&format=png&auto=webp&s=90d0770720c03c36fd780f6afdfcd3a1f8a3db68 In the above set of balance sheets, "money" is an umbrella term for reserves (deposits) and Federal Reserve Notes. It shows that the Fed can support members by lending to them through the discount window (not the same thing as discounting) or by buying assets from their balance sheets (more analogous to discounting). Today, there are two clearing systems: one public (Fedwire) and one private (CHIPS). CHIPS is the modern version of the NYCA. CHIPS clears first, and then everything settles on Fedwire. Part 10: Central Bank Cooperation If someone above you in the hierarchy needs to be paid in reserves (external drain), your choice is to pay up or to default (suspend payments). If someone below you in the hierarchy needs to be paid (internal drain), your liabilities are their reserves. You can expand your balance sheet. No problem. When you're a central bank and you run out of gold, you suspend specie payments. That's suspending the exchange rate fixed with gold. It suspends the promise that you will maintain the mint par with gold. Instead of suspending payments, it's possible for all the central banks to expand their balance sheets at the same time when experiencing stress. It's like an international clearinghouse adding elasticity at the top of the system. In 2012, the five central banks that matter were all expanding their balance sheets together: Fed, ECB, BoE, SNB, and BoJ. Today, Mehrling adds the Bank of Canada to that list and calls them as a group the C6, with the C standing for "central bank." Please post any questions and comments below. We will have a one-hour live discussion of Lecture 5 and Lecture 6 on Monday, June 5th, at 2:00pm EDT. submitted by spunchy to moneyview [link] [comments] |
2023.06.05 00:02 BirdRock777 Compare to a Tahoe/Yukon?
So- please be objective here. I am a Toyota fanboy as much as any of you. I’ve got an ‘03 V6 with 197K that I’ve had since new. It’s really only used for camping, snow, weekend trips, etc. It’s in great shape mechanically, including frame, but I’m ready to move on.
We are an all Toyota family- 2 Lexuses and a Prius. I’ve owned a J60 and a J80. I’m spoiled by the reliability just like all of us.
Now I’ve got it in my head that I want to buy a used Tahoe/Yukon. Something 8-15 years old, 100k+ miles, but in good shape to be the weekend rig. I don’t tow, I don’t do heavy mods, and I don’t overland. I don’t want a new car and I don’t care about a ton of modern technology, especially on the drivetrain.
Am I crazy? I know the interiors are garbage, I know the transmissions are more problematic than I’m used to, but is this a rig that I can rely on for another 80-100k miles? I can fix most non-catastrophic stuff, and I’m meticulous with scheduled maintenance.
Any practical comparisons between the 4Runner and the Tahoe/Yukon? Or is a 12 year old GM with 100k+ miles a disaster waiting to leave me stranded?
Asking here before I rile up the Tahoe group.
submitted by
BirdRock777 to
4Runner [link] [comments]
2023.06.04 18:48 sandman730 CBA Basics
This is based on the
CBA,
MOU, and various
CapFriendly FAQs.
If you have any questions, feel free to comment, or message me.
Note: Various games played thresholds for may be pro-rated due to the shortened 2019-20 and 2020-21 seasons. Consult CapFriendly or message me if you have any questions. All dates below are tentative. Check the
schedule for more up-to-date information.
Salary Cap
The upper limit is
$83.5M (projected), and the lower limit is
$61.0M (projected). Though you are allowed to exceed the upper limit by 10% in the offseason, we will require you to have a plan for how to get back under the cap by the end of the sim.
Resources: Contracts
For the sake of simplifying contracts, all contract negotiations and signings will be done using average annual value (AAV). Salary structure and signing bonuses will not be considered, with the exceptions of complying with minimum salaries ($775k for the 2023-24 season and beyond) and maximum salaries (an AAV equal to 20% of the current salary cap upper limit).
Basic Definitions
- Standard player contract (SPC) - the sole form of employment contract used for all player signings
- Entry-level contract (ELC) - most players’ first contract, carries certain restrictions
- Unrestricted free agent (UFA) - can sign with any team
- Restricted free agent (RFA) - if they sign with another team, the original team has the right to match the contract or receive draft pick compensation
- Group 1 Player - players under an ELC
- Group 2 Player or RFA - most RFAs fit under this category
- Group 3 Player or UFA - players with 7 accrued seasons or 27 years old
- Group 4 RFA - defected players
- Group 5 UFA (currently irrelevant) - players with 10 accrued seasons who made less than the average league salary in the prior season
- Group 6 UFA - players 25 or older who played few enough NHL games to become a UFA
- 10.2(c) - players without the professional years required to become a Group 2 RFA and receive a qualifying offer. Can only negotiate with the team holding the player's rights.
Contract & Roster Limits
During the regular season (before the day of the Trade Deadline) each team may have a maximum of 23 players on their Active Roster, and a minimum of 18 skaters and 2 goalies.
Each club may have a maximum of 50 SPCs, and must have a minimum of 24 players and 3 goalkeepers. In this sim, we will also require each team to have at least 40 SPCs by the end. Players who meet the following conditions do not count towards this contract limit:
- Are 18 or 19 years old
- Are in a junior league
- Have not played 11 NHL games in one season
Note: the roster sheets currently assume every player eligible for this exemption is assigned to Juniors. If you wish to have that player(s) on your opening day roster, please ask me to correct this (as it will affect the number of contract slots you have available).
A club's reserve list (signed players, unsigned draft picks, and defected players) may not exceed 90 players.
Resources: Buried Contracts
For one-way NHL contracts of players reassigned to the AHL, the players' salary cap hit, minus the sum of the minimum NHL salary (for the respective season) and $375k, still counts towards the team’s salary cap total. This implies up to $1.15M can be buried this season per contract.
If a player signs a multi-year contract at 35 years or older (as of June 30 prior to the effective contract), the player's individual cap hit counts against the teams cap hit regardless of whether, or where, the player is active. However, a team will receive a $100k relief off of the team's salary cap hit, if a 35+ contract player is playing in the minor leagues after the first year of their contract.
Entry-Level Contracts
Players younger than 25 as of September 15 of the year of their first NHL contract must sign an ELC, all of which are two-way contracts with a maximum AAV of $950k (players drafted in 2022) or $925k (players drafted prior to 2022). The length of an ELC depends on the player's age:
- 18-21 years old: 3 years
- 22-23 years old: 2 years
- 24 years old: 1 year
European players (players drafted from a team outside North America or undrafted players) ages 25-27 must sign a one-year ELC.
If a player signed to an ELC is 18 or 19 years old, and does not play in a minimum of 10 NHL games (including both regular season and playoffs), their contract is considered to "slide", or extend, by one year. Signing bonuses do not slide, which can change the AAV of the player's contract.
Resources: Contract Length
Clubs may sign a player to an SPC with a term of up to 8 years only if that player was on such club's Reserve List as of and since the most recent Trade Deadline. For UFAs, this right expires when the player hits free agency (i.e., on
Sun. June 25th, 11:59pm ET). Otherwise, the term limit for SPCs is 7 years.
No-Trade Clauses
A No-Move Clause (NMC), No-Trade Clause (NTC), or Modified No-Trade Clause (M-NTC) can be added to a player's contract in the years after they are eligible as a Group 3 player (7 accrued seasons or 27 years old). These clauses restrict the player from being traded without his consent. An NMC also restricts a player from being placed on waivers and being assigned to minors without his consent. These clauses do not exempt a player from a buyout or contract termination.
Performance Bonuses
Clubs may pay players that meet one of the following criteria a performance bonus:
- The player is on an ELC.
- The player has signed a one-year contract and is over 35 years old.
- The player has signed a one-year contract after returning from a long-term injury (has played 400 or more games, and spent 100 or more days on the Injured Reserve in the last year of their most recent contract).
Performance bonuses count against the cap, however a team can only exceed the upper limit by a maximum of 7.5% (the overage of which counts towards the next season's cap hit).
Resources: Group 6 Unrestricted Free Agents
A player whose contract is expiring and meets all of the following conditions shall become a Group 6 UFA:
- The player is 25 years or older (as of June 30th).
- The player has completed 3 or more professional seasons - qualified by 11 or more professional games (for an 18/19 year old player), or 1 or more professional games (for a player 20 or older) while under an SPC.
- The player has played fewer than 80 NHL games for a skater, or 28 NHL games of 30 minutes or greater for a goaltender.
Restricted Free Agents
Qualifying Offers
A qualifying offer (QO) is an official one-year SPC offer. Clubs have until
Sun. June 25th, 5pm ET to submit their QOs. Submitting a QO gives the club the right of first refusal to match any offer sheet submitted, or receive draft pick compensation. If the player rejects the qualifying offer, they remain a RFA and their rights are retained by the club. If a player does not receive a qualifying offer, he becomes a UFA.
A minimum QO is calculated from the player's base salary (excluding all bonuses) as follows:
- 105% of the base salary if the base salary is less than $1,000,000. However, the minimum QO shall not exceed $1,000,000.
- 100% of the base salary if the base salary is equal to or greater than $1,000,000.
- For contracts signed after the 2020 Memorandum of Understanding, if the minimum qualifying offer would otherwise be greater than 120% of the AAV of the contract, the minimum qualifying offer will instead be 120% of the AAV.
The QO must be a one-way offer if the following three requirements are met (a goaltender is considered to have played a game if they are on the bench as a backup):
- The player played in 180 NHL games in the previous three seasons.
- The player played in 60 NHL games in the previous season.
- The player did not clear waivers in the previous season.
Qualifying offers expire on
Wed. July 12th, 5pm ET.
Note: If an RFA has signed a contract in another league, the NHL club may extend a QO to retain that player's rights. These players are marked on the roster sheets as signed in another league.
Resources: Offer Sheet Compensation
Only Group 2 and 4 RFAs may be signed to an offer sheet. However, clubs only receive draft pick compensation for Group 2 RFAs.
Compensation must be entirely in the next draft (for this sim: 2024), unless multiple of the same round of pick are required (e.g. two first rounders). In that case, you may skip one year (e.g. two 1sts could be 2023 and 2024 OR 2023 and 2025 OR 2024 and 2025).
Compensation is determined by the AAV outlined in the offer made by submitting club. The AAV for an offer sheet, which determines the compensation required, is derived by dividing the total contract value amount by the lesser of: number of years offered, or 5 years. The AAV thresholds are readjusted each season, and is based on the average league salary for that season.
Compensation for the
2022 offseason is as follows:
AAV (1-5 years) | AAV (6 years) | AAV (7 years) | Compensation |
$1,386,490 or less | $1,155,408 or less | $990,350 or less | No compensation |
$1,386,491 - $2,100,742 | $1,155,409 - $1,750,618 | $990,351 - $1,500,530 | One 3rd Round Pick |
$2,100,743 - $4,201,488 | $1,750,619 - $3,501,240 | $1,500,531 - $3,001,063 | One 2nd Round Pick |
$4,201,489 - $6,302,230 | $3,501,241 - $5,251,858 | $3,001,064 - $4,501,593 | One 1st Round Pick, One 3rd Round Pick |
$6,302,231 - $8,402,975 | $5,251,859 - $7,002,479 | $4,501,594 - $6,002,125 | One 1st Round Pick, One 2nd Round Pick, One 3rd Round Pick |
$8,402,976 - $10,503,720 | $7,002,480 - $8,753,100 | $6,002,126 - $7,502,657 | Two 1st Round Picks, One 2nd Round Pick, One 3rd Round Pick |
$10,503,721 or more | $8,753,101 or more | $7,502,658 or more | Four 1st Round Picks |
The club that receives an Offer Sheet has 7 days to match the offer or accept the draft pick compensation. If the receiving club matches the Offer Sheet, they are bound to the contract details outlined in the offer, must respect all aspects of the contract (such as any NTCs), and cannot trade that player for 1 year from the date of the contract signing.
Resources: Buyouts
Teams are permitted to buyout a player's contract to obtain a reduced salary cap hit over a period of twice the remaining length of the contract. The buyout amount is a function of the players age at the time of the buyout, and are as follows:
- 1/3 of the remaining contract value, if the player is younger than 26 at the time of the buyout
- 2/3 of the remaining contract value, if the player is 26 or older at the time of the buyout
The team still takes a cap hit, and the cap hit by year is calculated as follows:
- Multiply the remaining salary (excluding signing bonuses) by the buyout amount (as determined by age) to obtain the total buyout cost
- Spread the total buyout cost evenly over twice the remaining contract years
- Determine the savings by subtracting the annual buyout cost from Step 2. by the player's salary (excluding signing bonuses)
- Determine the remaining cap hit by subtracting the savings from Step 3. by the player's AAV (including signing bonuses)
A player can only be bought out after clearing unconditional waivers. A waiver-claim by another team pre-empts the buyout process. If a player has a no-movement clause, the player can reject the option of waivers and proceed directly to the buyout process.
A 35+ contract that is bought out receives no salary cap relief. An injured player (who was injured as a result of his job) is entitled his remaining salary, so long as such injury continues, and therefore cannot be bought out.
Resources: Waivers
When a player is reassigned from the NHL to another league, they must pass through waivers (unless they are exempt).
Waivers requests are processed each day at
2pm ET, and are subject to a 24 hour claim period, expiring at
2pm ET the following day.
The sim will have two waivers windows: unconditional waivers (for a buyouts) runs from
Mon. June 19th until
Sun. June 25th and the normal waiver window will run from
Thu. August 3rd until
Sat. August 12th.
Waivers priority is determined by the lowest percentage of possible standings points at the time of the waivers request (or when outside the regular season or through October 31st by the standings of the previous season). Tie breakers: lowest ROW percentage, fewest number of points in head-to-head games (excluding "odd games"), lowest goal differential per game. Therefore, waivers priority throughout the sim is as follows:
Resources: Waiver Exemptions
Age is defined as follows:
- If a player turns 18 between January 1 and September 15 in the entry-draft calendar year preceding the first season of the player's ELC, they are considered 18
- Otherwise, if a player turns 19 (or older) before December 31 in the entry-draft calendar year preceding the first season of the player's ELC, they are considered 19 (or older)
For players 20 years or older, the year in which they play their first professional game under NHL contract is their first year towards the waiver exemption.
Whichever comes first in this table indicates when a player is no longer exempt:
Age | Years from Signing (Skaters) | NHL Games Played (Skaters) | Years from Signing (Goalies) | NHL Games Played (Goalies) |
18 | 5 | 160 | 6 | 80 |
19 | 4 | 160 | 5 | 80 |
20 | 3 | 160 | 4 | 80 |
21 | 3 | 80 | 4 | 60 |
22 | 3 | 70 | 4 | 60 |
23 | 3 | 60 | 3 | 60 |
24 | 2 | 60 | 2 | 60 |
25+ | 1 | | 1 | |
There is an exception (to the above) for 18 and 19 year olds: if a skater plays 11 NHL games or more, the year exemption will reduce to 3, and the following two season will count against this regardless of games played. For goalies, the year exemption will reduce to 4, and the following three season will count against this regardless of games played.
Otherwise:
- A player does not need to pass through waivers if he has not been on the NHL active roster for a cumulative 30 days since last clearing waivers, and has not played in 10 or more NHL games.
- Any player who has consented to a Conditioning Loan can be loaned to a minor league club for a maximum of 14 days without passing through waivers.
- A player who was previously on long-term injured reserve (LTIR), may be loaned to a minor league club for a maximum of 6 days or 3 games for the purpose of determining if the player is fit to play. This player does not need to pass through waivers
Examples of players that do or do not require waivers. Resources: Long Term Injured Reserve
There are two approaches to use LTIR for cap relief:
- Put the player on LTIR before the season starts. You can be over at the start of the season, but only get relief for how much the contract is over at the time he is placed on LTIR. Note: offseason cap accounting applies.
- Put the player on LTIR after the start of the season. You need to be under the cap at the beginning of the season, but get full relief.
The LTIR salary relief cannot be used to pay bonuses. Any excess relief does not accumulate.
At this point, the following players are eligible for LTIR: Ryan Ellis (
PHI), Gabriel Landeskog (
COL), Bryan Little (
ARI), Carey Price (
MTL), Brent Seabrook (
TBL), and Shea Weber (
ARI). GMs can petition the commissioners to add players to this list, including relevant information such as the player, injury, and timeline for return.
Resources: Retained Salary Transactions
When a team trades a player, they have the option to retain a part of his salary (and cap hit). The team who retains the salary pays the retained percentage of the salary, and retains the percentage of the cap hit (until the contract expires). The following requirements must be met:
- The percentage retained cannot exceed 50% of the player’s salary (including all bonuses) and cap hit.
- The same percentage must be retained for both the player’s salary and cap hit, and cannot be modified year-to-year. As a result, the same amount must be retained through the remainder of the contract.
- All teams are limited to a maximum of 3 retained salary contracts per season.
- Teams cannot retain an aggregate amount of more than 15% of the Salary Cap Upper Limit.
- Players’ contracts are limited to 2 retained salary transactions per contract.
Once a retained salary transaction occurs, there are various limitations:
- A team cannot re-acquire a player whom they have retained salary from for a minimum of one year after the date of the transaction (unless the player's contract expires or is terminated prior to the one-year date).
- All teams involved in a retained salary transaction will have cap implications if the contract is bought out or terminated.
- Teams who retain salary on a players contract, will have the full value of the cap hit act against the teams salary cap total, regardless of whether the player is reassigned to the minors by their current team.
Such transactions will require a compelling explanation. Salary Arbitration
We are not doing salary arbitration as part of this sim. If you feel that a GM and/or agent is negotiating for an RFA in bad faith, contact a commissioner.
Miscellaneous
Performance bonuses count against the cap, however a team can only exceed the upper limit by a maximum of 7.5% (the overage of which counts towards the next season's cap hit).
Teams may not commit more salary to next season than 110% the current salary cap (i.e. exceed their tagging space).
Players claimed off waivers cannot be traded to another club (until the termination of Playoffs of the season in which he was acquired) unless he is first offered on the same terms to the club(s) that previously issued a claim (and the offer has been refused).
If you have any questions, feel free to comment below or DM sandman730. If we need to clarify some things, we will do so.
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2023.06.04 10:01 Connect_Trouble_164 Airbus wikipedia part one
The Airbus A300 is a wide-body airliner developed and manufactured by Airbus. In September 1967, aircraft manufacturers in the United Kingdom, France, and West Germany signed a memorandum of understanding to develop a large airliner. West Germany and France reached an agreement on 29 May 1969 after the British withdrew from the project on 10 April 1969. European collaborative aerospace manufacturer Airbus Industrie was formally created on 18 December 1970 to develop and produce it. The prototype first flew on 28 October 1972.
The first twin-engine widebody airliner, the A300 typically seats 247 passengers in two classes over a range of 5,375 to 7,500 km (2,900 to 4,050 nmi). Initial variants are powered by General Electric CF6-50 or Pratt & Whitney JT9D turbofans and have a three-crew flight deck. The improved A300-600 has a two-crew cockpit and updated CF6-80C2 or PW4000 engines; it made its first flight on 8 July 1983 and entered service later that year. The A300 is the basis of the smaller A310 (first flown in 1982) and was adapted in a freighter version. Its cross section was retained for the larger four-engined A340 (1991) and the larger twin-engined A330 (1992). It is also the basis for the oversize Beluga transport (1994).
Launch customer Air France introduced the type on 23 May 1974. After limited demand initially, sales took off as the type was proven in early service, beginning three decades of steady orders. It has a similar capacity to the Boeing 767-300, introduced in 1986, but lacked the 767-300ER range. During the 1990s, the A300 became popular with cargo aircraft operators, as both passenger airliner conversions and as original builds. Production ceased in July 2007 after 561 deliveries. As of March 2023, there were 228 A300 family aircraft in commercial service.
Origins:
During the 1960s, European aircraft manufacturers such as Hawker Siddeley and the British Aircraft Corporation, based in the UK, and Sud Aviation of France, had ambitions to build a new 200-seat airliner for the growing civil aviation market. While studies were performed and considered, such as a stretched twin-engine variant of the Hawker Siddeley Trident and an expanded development of the British Aircraft Corporation (BAC) One-Eleven, designated the BAC Two-Eleven, it was recognized that if each of the European manufacturers were to launch similar aircraft into the market at the same time, neither would achieve sales volume needed to make them viable.[2] In 1965, a British government study, known as the Plowden Report, had found British aircraft production costs to be between 10% and 20% higher than American counterparts due to shorter production runs, which was in part due to the fractured European market. To overcome this factor, the report recommended the pursuit of multinational collaborative projects between the region's leading aircraft manufacturers.[3]: 49 [4][5]: 2–13
European manufacturers were keen to explore prospective programs; the proposed 260-seat wide-body HBN 100 between Hawker Siddeley, Nord Aviation, and Breguet Aviation being one such example.[2][6]: 37–38 National governments were also keen to support such efforts amid a belief that American manufacturers could dominate the European Economic Community;[7] in particular, Germany had ambitions for a multinational airliner project to invigorate its aircraft industry, which had declined considerably following the Second World War.[3]: 49–50 During the mid-1960s, both Air France and American Airlines had expressed interest in a short-haul twin-engine wide-body aircraft, indicating a market demand for such an aircraft to be produced.[3][8] In July 1967, during a high-profile meeting between French, German, and British ministers, an agreement was made for greater cooperation between European nations in the field of aviation technology, and "for the joint development and production of an airbus".[2][9]: 34 The word airbus at this point was a generic aviation term for a larger commercial aircraft, and was considered acceptable in multiple languages, including French.[9]: 34
Shortly after the July 1967 meeting, French engineer Roger Béteille was appointed as the technical director of what would become the A300 program, while Henri Ziegler, chief operating office of Sud Aviation, was appointed as the general manager of the organization and German politician Franz Josef Strauss became the chairman of the supervisory board.[2] Béteille drew up an initial work share plan for the project, under which French firms would produce the aircraft's cockpit, the control systems, and lower-center portion of the fuselage, Hawker Siddeley would manufacture the wings, while German companies would produce the forward, rear and upper part of the center fuselage sections. Addition work included moving elements of the wings being produced in the Netherlands, and Spain producing the horizontal tail plane.[2][6]: 38
An early design goal for the A300 that Béteille had stressed the importance of was the incorporation of a high level of technology, which would serve as a decisive advantage over prospective competitors. As such, the A300 would feature the first use of composite materials of any passenger aircraft, the leading and trailing edges of the tail fin being composed of glass fibre reinforced plastic.[5]: 2–16 [10] Béteille opted for English as the working language for the developing aircraft, as well against using Metric instrumentation and measurements, as most airlines already had US-built aircraft.[10] These decisions were partially influenced by feedback from various airlines, such as Air France and Lufthansa, as an emphasis had been placed on determining the specifics of what kind of aircraft that potential operators were seeking. According to Airbus, this cultural approach to market research had been crucial to the company's long-term success.[10]
Workshare and redefinition:
On 26 September 1967, the British, French, and West German governments signed a Memorandum of Understanding to start development of the 300-seat Airbus A300.[6]: 38 [11]: 43 [12]: 57 At this point, the A300 was only the second major joint aircraft programme in Europe, the first being the Anglo-French Concorde.[9] Under the terms of the memorandum, Britain and France were each to receive a 37.5 per cent work share on the project, while Germany received a 25 per cent share. Sud Aviation was recognized as the lead company for A300, with Hawker Siddeley being selected as the British partner company.[2] At the time, the news of the announcement had been clouded by the British Government's support for the Airbus, which coincided with its refusal to back BAC's proposed competitor, the BAC 2–11, despite a preference for the latter expressed by British European Airways (BEA).[9]: 34 Another parameter was the requirement for a new engine to be developed by Rolls-Royce to power the proposed airliner; a derivative of the in-development Rolls-Royce RB211, the triple-spool RB207, capable of producing of 47,500 lbf (211 kN).[13] The program cost was US$4.6 billion (in 1993 Dollars).[14]
In December 1968, the French and British partner companies (Sud Aviation and Hawker Siddeley) proposed a revised configuration, the 250-seat Airbus A250. It had been feared that the original 300-seat proposal was too large for the market, thus it had been scaled down to produce the A250.[5]: 2–14 [8][15] The dimensional changes involved in the shrink reduced the length of the fuselage by 5.62 metres (18.4 ft) and the diameter by 0.8 metres (31 in), reducing the overall weight by 25 tonnes (55,000 lb).[10][16]: 16 For increased flexibility, the cabin floor was raised so that standard LD3 freight containers could be accommodated side-by-side, allowing more cargo to be carried. Refinements made by Hawker Siddeley to the wing's design provided for greater lift and overall performance; this gave the aircraft the ability to climb faster and attain a level cruising altitude sooner than any other passenger aircraft.[10] It was later renamed the A300B.[9]: 34 [15]
Perhaps the most significant change of the A300B was that it would not require new engines to be developed, being of a suitable size to be powered by Rolls-Royce's RB211, or alternatively the American Pratt & Whitney JT9D and General Electric CF6 powerplants; this switch was recognized as considerably reducing the project's development costs.[11]: 45 [15][16]: 16–17 To attract potential customers in the US market, it was decided that General Electric CF6-50 engines would power the A300 in place of the British RB207; these engines would be produced in co-operation with French firm Snecma.[8][10] By this time, Rolls-Royce had been concentrating their efforts upon developing their RB211 turbofan engine instead and progress on the RB207's development had been slow for some time, the firm having suffered due to funding limitations, both of which had been factors in the engine switch decision.[5]: 2–13 [15][16]: 17–18
On 10 April 1969, a few months after the decision to drop the RB207 had been announced, the British government announced that they would withdraw from the Airbus venture.[6]: 38–39 [15] In response, West Germany proposed to France that they would be willing to contribute up to 50% of the project's costs if France was prepared to do the same.[15] Additionally, the managing director of Hawker Siddeley, Sir Arnold Alexander Hall, decided that his company would remain in the project as a favoured sub-contractor, developing and manufacturing the wings for the A300, which would later become pivotal in later versions' impressive performance from short domestic to long intercontinental flights.[5]: 2–13 [9]: 34 [16]: 18 Hawker Siddeley spent £35 million of its own funds, along with a further £35 million loan from the West German government, on the machine tooling to design and produce the wings.[6]: 39 [15]
Programme launch:
On 29 May 1969, during the Paris Air Show, French transport minister Jean Chamant and German economics minister Karl Schiller signed an agreement officially launching the Airbus A300, the world's first twin-engine widebody airliner.[2] The intention of the project was to produce an aircraft that was smaller, lighter, and more economical than its three-engine American rivals, the McDonnell Douglas DC-10 and the Lockheed L-1011 TriStar.[10] In order to meet Air France's demands for an aircraft larger than 250-seat A300B, it was decided to stretch the fuselage to create a new variant, designated as the A300B2, which would be offered alongside the original 250-seat A300B, henceforth referred to as the A300B1. On 3 September 1970, Air France signed a letter of intent for six A300s, marking the first order to be won for the new airliner.[6]: 39 [10][16]: 21
In the aftermath of the Paris Air Show agreement, it was decided that, in order to provide effective management of responsibilities, a Groupement d'intérêt économique would be established, allowing the various partners to work together on the project while remaining separate business entities.[2] On 18 December 1970, Airbus Industrie was formally established following an agreement between Aérospatiale (the newly merged Sud Aviation and Nord Aviation) of France and the antecedents to Deutsche Aerospace of Germany, each receiving a 50 per cent stake in the newly formed company.[3]: 50 [6]: 39 [10] In 1971, the consortium was joined by a third full partner, the Spanish firm CASA, who received a 4.2 per cent stake, the other two members reducing their stakes to 47.9 per cent each.[10][16]: 20 In 1979, Britain joined the Airbus consortium via British Aerospace, which Hawker Siddeley had merged into, which acquired a 20 per cent stake in Airbus Industrie with France and Germany each reducing their stakes to 37.9 per cent.[3]: 53 [5]: 2–14 [6]: 39
Prototype and flight testing:
Airbus Industrie was initially headquartered in Paris, which is where design, development, flight testing, sales, marketing, and customer support activities were centered; the headquarters was relocated to Toulouse in January 1974.[8][10] The final assembly line for the A300 was located adjacent to Toulouse Blagnac International Airport. The manufacturing process necessitated transporting each aircraft section being produced by the partner companies scattered across Europe to this one location. The combined use of ferries and roads were used for the assembly of the first A300, however this was time-consuming and not viewed as ideal by Felix Kracht, Airbus Industrie's production director.[10] Kracht's solution was to have the various A300 sections brought to Toulouse by a fleet of Boeing 377-derived Aero Spacelines Super Guppy aircraft, by which means none of the manufacturing sites were more than two hours away. Having the sections airlifted in this manner made the A300 the first airliner to use just-in-time manufacturing techniques, and allowed each company to manufacture its sections as fully equipped, ready-to-fly assemblies.[3]: 53 [10]
In September 1969, construction of the first prototype A300 began.[16]: 20 On 28 September 1972, this first prototype was unveiled to the public, it conducted its maiden flight from Toulouse–Blagnac International Airport on 28 October that year.[6]: 39 [9]: 34 [11]: 51–52 This maiden flight, which was performed a month ahead of schedule, lasted for one hour and 25 minutes; the captain was Max Fischl and the first officer was Bernard Ziegler, son of Henri Ziegler.[10] In 1972, unit cost was US$17.5M.[17] On 5 February 1973, the second prototype performed its maiden flight.[6]: 39 The flight test program, which involved a total of four aircraft, was relatively problem-free, accumulating 1,580 flight hours throughout.[16]: 22 In September 1973, as part of promotional efforts for the A300, the new aircraft was taken on a six-week tour around North America and South America, to demonstrate it to airline executives, pilots, and would-be customers.[10] Amongst the consequences of this expedition, it had allegedly brought the A300 to the attention of Frank Borman of Eastern Airlines, one of the "big four" U.S. airlines.[18]
Entry into service:
On 15 March 1974, type certificates were granted for the A300 from both German and French authorities, clearing the way for its entry into revenue service.[18] On 23 May 1974, Federal Aviation Administration (FAA) certification was received.[16]: 22 The first production model, the A300B2, entered service in 1974, followed by the A300B4 one year later.[8] Initially, the success of the consortium was poor, in part due to the economic consequences of the 1973 oil crisis,[6]: 40 [8][9]: 34 but by 1979 there were 81 A300 passenger liners in service with 14 airlines, alongside 133 firm orders and 88 options.[18] Ten years after the official launch of the A300, the company had achieved a 26 per cent market share in terms of dollar value, enabling Airbus Industries to proceed with the development of its second aircraft, the Airbus A310.[18]
Design:
The Airbus A300 is a wide-body medium-to-long range airliner; it has the distinction of being the first twin-engine wide-body aircraft in the world.[8][9]: 34 [12]: 57, 60 [19] In 1977, the A300 became the first Extended Range Twin Operations (ETOPS)-compliant aircraft, due to its high performance and safety standards.[6]: 40 Another world-first of the A300 is the use of composite materials on a commercial aircraft, which were used on both secondary and later primary airframe structures, decreasing overall weight and improving cost-effectiveness.[19] Other firsts included the pioneering use of center-of-gravity control, achieved by transferring fuel between various locations across the aircraft, and electrically signaled secondary flight controls.[20]
The A300 is powered by a pair of underwing turbofan engines, either General Electric CF6 or Pratt & Whitney JT9D engines; the sole use of underwing engine pods allowed for any suitable turbofan engine to be more readily used.[12]: 57 The lack of a third tail-mounted engine, as per the trijet configuration used by some competing airliners, allowed for the wings to be located further forwards and to reduce the size of the vertical stabilizer and elevator, which had the effect of increasing the aircraft's flight performance and fuel efficiency.[3]: 50 [16]: 21
Airbus partners had employed the latest technology, some of which having been derived from Concorde, on the A300. According to Airbus, new technologies adopted for the airliner were selected principally for increased safety, operational capability, and profitability.[19] Upon entry into service in 1974, the A300 was a very advanced plane, which went on to influence later airliner designs. The technological highlights include advanced wings by de Havilland (later BAE Systems) with supercritical airfoil sections for economical performance and advanced aerodynamically efficient flight control surfaces. The 5.64 m (222 in) diameter circular fuselage section allows an eight-abreast passenger seating and is wide enough for 2 LD3 cargo containers side by side. Structures are made from metal billets, reducing weight. It is the first airliner to be fitted with wind shear protection. Its advanced autopilots are capable of flying the aircraft from climb-out to landing, and it has an electrically controlled braking system.
Later A300s incorporated other advanced features such as the Forward-Facing Crew Cockpit (FFCC), which enabled a two-pilot flight crew to fly the aircraft alone without the need for a flight engineer, the functions of which were automated; this two-man cockpit concept was a world-first for a wide-body aircraft.[8][16]: 23–24 [20] Glass cockpit flight instrumentation, which used cathode ray tube (CRT) monitors to display flight, navigation, and warning information, along with fully digital dual autopilots and digital flight control computers for controlling the spoilers, flaps, and leading-edge slats, were also adopted upon later-built models.[19][21] Additional composites were also made use of, such as carbon-fiber-reinforced polymer (CFRP), as well as their presence in an increasing proportion of the aircraft's components, including the spoilers, rudder, air brakes, and landing gear doors.[22] Another feature of later aircraft was the addition of wingtip fences, which improved aerodynamic performance and thus reduced cruise fuel consumption by about 1.5% for the A300-600.[23]
In addition to passenger duties, the A300 became widely used by air freight operators; according to Airbus, it is the best selling freight aircraft of all time.[20] Various variants of the A300 were built to meet customer demands, often for diverse roles such as aerial refueling tankers, freighter models (new-build and conversions), combi aircraft, military airlifter, and VIP transport. Perhaps the most visually unique of the variants is the A300-600ST Beluga, an oversize cargo-carrying model operated by Airbus to carry aircraft sections between their manufacturing facilities.[20] The A300 was the basis for, and retained a high level of commonality with, the second airliner produced by Airbus, the smaller Airbus A310.[19]
Operational history:
On 23 May 1974, the first A300 to enter service performed the first commercial flight of the type, flying from Paris to London, for Air France.[6]: 39 [18]
Immediately after the launch, sales of the A300 were weak for some years, with most orders going to airlines that had an obligation to favor the domestically made product – notably Air France and Lufthansa, the first two airlines to place orders for the type.[3]: 50–52 [18] Following the appointment of Bernard Lathière as Henri Ziegler's replacement, an aggressive sales approach was adopted. Indian Airlines was the world's first domestic airline to purchase the A300, ordering three aircraft with three options. However, between December 1975 and May 1977, there were no sales for the type. During this period a number of "whitetail" A300s – completed but unsold aircraft – were completed and stored at Toulouse, and production fell to half an aircraft per month amid calls to pause production completely.[18]
During the flight testing of the A300B2, Airbus held a series of talks with Korean Air on the topic of developing a longer-range version of the A300, which would become the A300B4. In September 1974, Korean Air placed an order for four A300B4s with options for two further aircraft; this sale was viewed as significant as it was the first non-European international airline to order Airbus aircraft. Airbus had viewed South-East Asia as a vital market that was ready to be opened up and believed Korean Air to be the 'key'.[8][16]: 23 [18]
Airlines operating the A300 on short haul routes were forced to reduce frequencies to try and fill the aircraft. As a result, they lost passengers to airlines operating more frequent narrow body flights. Eventually, Airbus had to build its own narrowbody aircraft (the A320) to compete with the Boeing 737 and McDonnell Douglas DC-9/MD-80. The savior of the A300 was the advent of ETOPS, a revised FAA rule which allows twin-engine jets to fly long-distance routes that were previously off-limits to them. This enabled Airbus to develop the aircraft as a medium/long range airliner.
In 1977, US carrier Eastern Air Lines leased four A300s as an in-service trial.[18] CEO Frank Borman was impressed that the A300 consumed 30% less fuel, even less than expected, than his fleet of L-1011s. Borman proceeded to order 23 A300s, becoming the first U.S. customer for the type. This order is often cited as the point at which Airbus came to be seen as a serious competitor to the large American aircraft-manufacturers Boeing and McDonnell Douglas.[6]: 40 [8][18] Aviation author John Bowen alleged that various concessions, such as loan guarantees from European governments and compensation payments, were a factor in the decision as well.[3]: 52 The Eastern Air Lines breakthrough was shortly followed by an order from Pan Am. From then on, the A300 family sold well, eventually reaching a total of 561 delivered aircraft.[1]
In December 1977, Aerocondor Colombia became the first Airbus operator in Latin America, leasing one Airbus A300B4-2C, named Ciudad de Barranquilla.
During the late 1970s, Airbus adopted a so-called 'Silk Road' strategy, targeting airlines in the Far East.[3]: 52 [18] As a result, The aircraft found particular favor with Asian airlines, being bought by Japan Air System, Korean Air, China Eastern Airlines, Thai Airways International, Singapore Airlines, Malaysia Airlines, Philippine Airlines, Garuda Indonesia, China Airlines, Pakistan International Airlines, Indian Airlines, Trans Australia Airlines and many others. As Asia did not have restrictions similar to the FAA 60-minutes rule for twin-engine airliners which existed at the time, Asian airlines used A300s for routes across the Bay of Bengal and South China Sea.
In 1977, the A300B4 became the first ETOPS compliant aircraft,[24] qualifying for Extended Twin Engine Operations over water, providing operators with more versatility in routing. In 1982 Garuda Indonesia became the first airline to fly the A300B4-200FFCC.[25] By 1981, Airbus was growing rapidly, with over 400 aircraft sold to over forty airlines.[26]
In 1989, Chinese operator China Eastern Airlines received its first A300; by 2006, the airline operated around 18 A300s, making it the largest operator of both the A300 and the A310 at that time. On 31 May 2014, China Eastern officially retired the last A300-600 in its fleet, having begun drawing down the type in 2010.[27]
From 1997 to 2014, a single A300, designated A300 Zero-G, was operated by the European Space Agency (ESA), centre national d'études spatiales (CNES) and the German Aerospace Center (DLR) as a reduced-gravity aircraft for conducting research into microgravity; the A300 is the largest aircraft to ever have been used in this capacity. A typical flight would last for two and a half hours, enabling up to 30 parabolas to be performed per flight.[28][29]
By the 1990s, the A300 was being heavily promoted as a cargo freighter.[16]: 24 The largest freight operator of the A300 is FedEx Express, which has 65 A300 aircraft in service as of May 2022.[30] UPS Airlines also operates 52 freighter versions of the A300.[31]
The final version was the A300-600R and is rated for 180-minute ETOPS. The A300 has enjoyed renewed interest in the secondhand market for conversion to freighters; large numbers were being converted during the late 1990s.[16]: 24–25 The freighter versions – either new-build A300-600s or converted ex-passenger A300-600s, A300B2s and B4s – account for most of the world's freighter fleet after the Boeing 747 freighter.[32]
The A300 provided Airbus the experience of manufacturing and selling airliners competitively. The basic fuselage of the A300 was later stretched (A330 and A340), shortened (A310), or modified into derivatives (A300-600ST Beluga Super Transporter). In 2006, unit cost of an −600F was $105 million.[14] In March 2006, Airbus announced the impending closure of the A300/A310 final assembly line,[33] making them the first Airbus aircraft to be discontinued. The final production A300, an A300F freighter, performed its initial flight on 18 April 2007,[34] and was delivered to FedEx Express on 12 July 2007.[35] Airbus has announced a support package to keep A300s flying commercially. Airbus offers the A330-200F freighter as a replacement for the A300 cargo variants.[36]
The life of UPS's fleet of 52 A300s, delivered from 2000 to 2006, will be extended to 2035 by a flight deck upgrade based around Honeywell Primus Epic avionics; new displays and flight management system (FMS), improved weather radar, a central maintenance system, and a new version of the current enhanced ground proximity warning system. With a light usage of only two to three cycles per day, it will not reach the maximum number of cycles by then. The first modification will be made at Airbus Toulouse in 2019 and certified in 2020.[37] As of July 2017, there are 211 A300s in service with 22 operators, with the largest operator being FedEx Express with 68 A300-600F aircraft.[38]
Variants:
A300B1 - The A300B1 was the first variant to take flight. It had a maximum takeoff weight (MTOW) of 132 t (291,000 lb), was 51 m (167 ft) long and was powered by two General Electric CF6-50A engines.[16]: 21 [39]: 41 Only two prototypes of the variant were built before it was adapted into the A300B2, the first production variant of the airliner.[6]: 39 The second prototype was leased to Trans European Airways in 1974.[39]: 54
A300B2 -
A300B2-100:
Responding to a need for more seats from Air France, Airbus decided that the first production variant should be larger than the original prototype A300B1. The CF6-50A powered A300B2-100 was 2.6 m (8.5 ft) longer than the A300B1 and had an increased MTOW of 137 t (302,000 lb), allowing for 30 additional seats and bringing the typical passenger count up to 281, with capacity for 20 LD3 containers.[40]: 10 [41][39]: 17 Two prototypes were built and the variant made its maiden flight on 28 June 1973, became certified on 15 March 1974 and entered service with Air France on 23 May 1974.[39]: 27, 53 [40]: 10
A300B2-200:
For the A300B2-200, originally designated as the A300B2K, Krueger flaps were introduced at the leading-edge root, the slat angles were reduced from 20 degrees to 16 degrees, and other lift related changes were made in order to introduce a high-lift system. This was done to improve performance when operating at high-altitude airports, where the air is less dense and lift generation is reduced.[42]: 52, 53 [43] The variant had an increased MTOW of 142 t (313,000 lb) and was powered by CF6-50C engines, was certified on 23 June 1976, and entered service with South African Airways in November 1976.[39]: 40 [40]: 12 CF6-50C1 and CF6-50C2 models were also later fitted depending on customer requirements, these became certified on 22 February 1978 and 21 February 1980 respectively.[39]: 41 [40]: 12
A300B2-320:
The A300B2-320 introduced the Pratt & Whitney JT9D powerplant and was powered by JT9D-59A engines. It retained the 142 t (313,000 lb) MTOW of the B2-200, was certified on 4 January 1980, and entered service with Scandinavian Airlines on 18 February 1980, with only four being produced.[39]: 99, 112 [40]: 14
A300B4 -
A300B4-100:
The initial A300B4 variant, later named the A300B4-100, included a centre fuel tank for an increased fuel capacity of 47.5 tonnes (105,000 lb), and had an increased MTOW of 157.5 tonnes (347,000 lb).[44][42]: 38 It also featured Krueger flaps and had a similar high-lift system to what was later fitted to the A300B2-200.[42]: 74 The variant made its maiden flight on 26 December 1974, was certified on 26 March 1975, and entered service with Germanair in May 1975.[39]: 32, 54 [40]: 16
A300B4-200:
The A300B4-200 had an increased MTOW of 165 tonnes (364,000 lb) and featured an additional optional fuel tank in the rear cargo hold, which would reduce the cargo capacity by two LD3 containers.[40]: 19 [42]: 69 The variant was certified on 26 April 1979.[40]: 19
A300-600 - The A300-600, officially designated as the A300B4-600, was slightly longer than the A300B2 and A300B4 variants and had an increased interior space from using a similar rear fuselage to the Airbus A310, this allowed it to have two additional rows of seats.[42]: 79 It was initially powered by Pratt & Whitney JT9D-7R4H1 engines, but was later fitted with General Electric CF6-80C2 engines, with Pratt & Whitney PW4156 or PW4158 engines being introduced in 1986.[42]: 82 Other changes include an improved wing featuring a recambered trailing edge, the incorporation of simpler single-slotted Fowler flaps, the deletion of slat fences, and the removal of the outboard ailerons after they were deemed unnecessary on the A310.[45] The variant made its first flight on 8 July 1983, was certified on 9 March 1984, and entered service in June 1984 with Saudi Arabian Airlines.[40]: 42 [39]: 58 A total of 313 A300-600s (all versions) have been sold. The A300-600 uses the A310 cockpits, featuring digital technology and electronic displays, eliminating the need for a flight engineer. The FAA issues a single type rating which allows operation of both the A310 and A300-600. A300-600: (Official designation: A300B4-600) The baseline model of the −600 series. A300-620C: (Official designation: A300C4-620) A convertible-freighter version. Four delivered between 1984 and 1985. A300-600F: (Official designation: A300F4-600) The freighter version of the baseline −600. A300-600R: (Official designation: A300B4-600R) The increased-range −600, achieved by an additional trim fuel tank in the tail. First delivery in 1988 to American Airlines; all A300s built since 1989 (freighters included) are −600Rs. Japan Air System (later merged into Japan Airlines) took delivery of the last new-built passenger A300, an A300-622R, in November 2002. A300-600RC: (Official designation: A300C4-600R) The convertible-freighter version of the −600R. Two were delivered in 1999. A300-600RF: (Official designation: A300F4-600R) The freighter version of the −600R. All A300s delivered between November 2002 and 12 July 2007 (last ever A300 delivery) were A300-600RFs.
A310 (A300B10)-
Airbus had demand for an aircraft smaller than the A300. On 7 July 1978, the A310 (initially the A300B10) was launched with orders from Swissair and Lufthansa. On 3 April 1982, the first prototype conducted its maiden flight and it received its type certification on 11 March 1983.
Keeping the same eight-abreast cross-section, the A310 is 6.95 m (22.8 ft) shorter than the initial A300 variants, and has a smaller 219 m2 (2,360 sq ft) wing, down from 260 m2 (2,800 sq ft). The A310 introduced a two-crew glass cockpit, later adopted for the A300-600 with a common type rating. It was powered by the same GE CF6-80 or Pratt & Whitney JT9D then PW4000 turbofans. It can seat 220 passengers in two classes, or 240 in all-economy, and can fly up to 5,150 nmi (9,540 km). It has overwing exits between the two main front and rear door pairs.
In April 1983, the aircraft entered revenue service with Swissair and competed with the Boeing 767–200, introduced six months before. Its longer range and ETOPS regulations allowed it to be operated on transatlantic flights. Until the last delivery in June 1998, 255 aircraft were produced, as it was succeeded by the larger Airbus A330-200. It has cargo aircraft versions, and was derived into the Airbus A310 MRTT military tanketransport.
Airbus A300-ST (Beluga)
Commonly referred to as the Airbus Beluga or "Airbus Super Transporter," these five airframes are used by Airbus to ferry parts between the company's disparate manufacturing facilities, thus enabling workshare distribution. They replaced the four Aero Spacelines Super Guppys previously used by Airbus.
ICAO code: A3ST
Operators:
As of March 2023, there were 228 A300 family aircraft in commercial service. The five largest operators were FedEx Express (70), UPS Airlines (52), European Air Transport Leipzig (23), Iran Air (11), and Mahan Air (11).[46]
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2023.06.04 07:56 Theresbeerinthefridg $600 break pads replacement? (Toyota, US)
I took my 2006 Toyota Sequoia (RWD) to an independent shop I'd never been at. I had them replace the rear wheel brake pads and do a few other things. When we discussed the items they warned me that Toyota parts were crazy expensive right now and that I'd be looking at around 600 bucks for just the brake work, most of it being parts. I needed brakes and was in no mood to shop around, so I went with it.
Are Toyota brake jobs this expensive right now? What do prices look like in your area? I know times are crazy, and everyone in my town seems to drive a damn 4Runner or Tacoma. But wow! I want these guys to be my new regular place, but I can't afford to pay dealership-level maintenance on an almost 20 year-old car.
Thanks in advance!
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2023.06.04 01:24 gaslightanthemarias Balancing true off-road and highway capability in favor of off-road: Toyota or bust?
Location: USA, TX
Price range: $20k is the edge of actually affordable, <$15k would be much smarter and more comfortable. $30k max if I'm being as reckless with financing as most Americans these days.
Lease or Buy: Buy
New or used: Budget says used, but not 100% opposed to new with the state of the used market.
Type of vehicle: SUV preferred, open to small truck or crossovewagon.
Must haves: - 4WD w/ 4LO (or very robust AWD), 8in+ ground clearance, decent approach/breakovedeparture angles, full-size spare
- reasonable maneuverability (not super wide, decent turning radius).
- reasonable long-haul highway comfort/manners (cruise control, no death wobble or excessive wandering)
- room for 4 adults and their gear, good cargo space for extended camping, room to sleep in total area behind front seats
- buttons (not touchscreen) for key functions (climate, radio, lights, vehicle modes) full-size spare,
- acceptable fuel mileage (min 18mpg highway)
- decent visibility (no major blindspots, stupid big flat hood, tiny rear windshield, etc)
Desired transmission: Automatic preferred, manual not a total dealbreaker
Intended use: 50% of anticipated miles will be adventure trips w/ a partner or friends (ie 90% highway, 10% remote offroad). NOT intended for deliberate rock-crawling or hardcore wheeling, overlanding, etc.
Other 50% will be occasional grocery-getting, poor-weather commuting, and cross-town errands and socializing in a highway-heavy city with clogged arteries and narrow neighborhood roads.
At home, I want it to have good utility for giving friends rides, schlepping furniture and bikes, and being a reliable source of mobility in crises.
I DON'T need a typical commuter, and willing to accept compromises in efficiency as result. My "daily driver" is my bicycle, including for most local errands. Expecting 5-10k mi/year, majority highway.
Is this your 1st vehicle: Yes (but as a someone who has been driving for 15 years)
Can you do Minor work on your own vehicle: Fluids, pads, sparkplugs, pads, bulbs: yes. Intend to do more, so important for this work to be somewhat cheap/easy in a driveway context.
Can you do Major work on your own vehicle: Likely not anytime soon. Important for these systems to be dependable and not crazy expensive to have work done on.
Additional Notes: - Safety is important (people drive insane everywhere these days but especially my area, also many deehogs on expected trips).
- Real off-road capabilities needed for responsible, self-reliant travel in remote areas, but not in a recreational enthusiast way. Don't intend to make wheeling/overlanding a hobby or expect to have similarly-equipped friends to bail me out in these situations. Terrain including but limited to sandy arroyos, steep loose-rock. I don't want to be in a vehicle punching above its weight, I want to be in one that's in its element.
- Major weather events that I'd like the vehicle to handle reasonably well include: downpours on oil-slicked roads, and occasional ice and snow storms (generally with no plowing, salting, or sanding). I realize this points more to AWD and good tires for close-to-home usage.
- Renting a true 4WD vehicle only when I need it: No, in those situations I want it to be my vehicle that I know, trust, and am personally responsible for, and I don't want to deal with the additional logistics of renting.
Vehicles you've already considered: Initial bumpers: nothing larger than a 4-door short-bed Tacoma/Frontier, nothing smalleless capable than a Crosstrek.
Most likely contenders so far:
- Lexus GX 470
- + Full-time 4WD with Torsen seems like best of both worlds of 4WD/AWD for all of my adverse-condition capability desires
- + Probably the best-driving of the "trucks"
- + (y'all know the rest, I won't go too deep)
- - difficulty in finding affordable one in good shape
- - Efficiency of FT 4WD w/ v8
- - Honestly too fancy, I dislike most luxury trappings
- Toyota 4Runner (3rd-5th Gen)
- + 4Runner shit
- + Full-time 4WD found on a few select trims too (but probably too competitive of a market for me to seek them out)
- + Efficiency of V6 a bit better (don't think I need more really)
- - pretty rough around the edges for the price, not impressed with brakes in particular
- - Market is crazy, hard to justify vs value proposition of the GX
- - 5th Gen feels too big (esp wide)
- Subaru Outback (2010s+)
- + Perennial do-it-all underdog.
- + 5-10mpg better than the "trucks"
- - Worried that it just won't cut it for expected offroad (AWD losing power to wheelspin and low articulation, CVT issues), and the most capable versions (XTs, Wilderness) compromise efficiency, affordability, and repair costs/ease to the point of having no real advantage vs anything beefier.
- - Low ride-height not an asset on truck-filled Texas roads
- - "Car" advantages pretty minimal, feels closer to a unibody SUV.
- - Not super impressed by real-world reliability and cost/ease of repair of 2010s models
The Maybes:
- Nissan Xterra (2nd Gen)
- + More affordable version of GX/4R
- - ...but at a commensurate loss in reliability and comforts (especially vs GX). Out of production, and well-cared-for survivors seem rare.
- Toyota Tacoma (4-door, short bed)
- + It's a Taco
- - I can't really justify a truck bed (I know, I know, that hasn't stopped 95% of Tacoma owners before me), and would need a Softopper or camper shell to keep gear safe, and maybe also an extender to sleep inside a 4-door version.
- - A bit longer than I want for trails and parking lots
- Nissan Frontier
The Close-But-Probably-Nots:
- Toyota FJ Cruiser
- - trash visibility
- - Big exterior, small interior
- - Cult Following and Toyota Tax
- Other Subarus (Forester, Crosstek)
- + Better visibility/ride height (Forester)
- + Better maneuverability, angles (Forester, esp Crosstek)
- - Less cargo space (esp Crosstek)
- - Less powecapability
- - No real additional value proposition over Outback
- Jeeps (Wrangler Unlimited, Cherokee, Grand Cherokee)
- + Most efficient smaller 4WDs
- + Ease of maintenance
- - Reliability below my acceptable threshold for remote and solo
- - Wrangler too off-road focused for 1000mi+ roadtrips.
- Honda CRV, Toyota RAV4, etc
- See Forester
- - below off-road capability threshold.
- Old stuff
- It seems like they stopped making what I really want in the mid-2000s. ~'95-'05 Cherokee XJ/ZJ, Pathfinder, Rodeo, Trooper, Montero, Sidekick, Tracker, etc. The few that are left often fit the budget, but with serious concerns about reliability, safety, and remaining life. Ultimately, I don't think I'd trust one of these long-distance or in the backcountry unless it was a really prime specimen (which is rare/expensive).
TL;DR: Please confirm that a 4Runner or GX is the only thing that really makes sense, than an Outback won't cut it, that I did good research, and that I look good in this dress. (Or please point out if I'm off-base or missing something) Thanks!
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2023.06.04 00:45 AZ_Tanker [Buying] Need a new (to me) truck $15-18K
I require a car with [2] doors. I [do] need room for cargo or passengers.
- Ideally would like the 3 door extended cab style for a little extra space and a ~6ft bed, though this is harder to come by on mid size so its negotiable.
My price range is [$15-18K USD]. Could stretch but would prefer to stick to the lower side and save for future maintenance/upgrades.
Minimum # of seats: 2-3 (ideally extended cab)
Must haves (mpg/fast/high seating position/tech): 4WD, decent clearance, fast is nice but this is a truck.
This car will primarily be used for: commuting daily, utility on weekend (Diy, hobby)
I'm looking to get a new pickup truck in SW AZ good for daily driving, light offroading, and occasional hauling. I want something with 4WD and reliable primarily with a good amount of power. I've been looking at Tacomas but can barely find anything that isn't extremely high mileage so I've been looking a lot of F150s as they are plentiful and fall within the budget much more easily. The only concern I have is my primary desire is reliability. My experience is that Fords are okay WITH lots of TLC, but Toyotas can handle a lot more. I've never owned a Chevy/GMC or Ram, but am open.
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2023.06.04 00:45 AZ_Tanker Looking to buy a truck ~$15-18K
I require a car with [2] doors. I [do] need room for cargo or passengers.
- Ideally would like the 3 door extended cab style for a little extra space and a ~6ft bed, though this is harder to come by on mid size so its negotiable.
My price range is [$15-18K USD]. Could stretch but would prefer to stick to the lower side and save for future maintenance/upgrades.
Minimum # of seats: 2-3 (ideally extended cab)
Must haves (mpg/fast/high seating position/tech): 4WD, decent clearance, fast is nice but this is a truck.
This car will primarily be used for: commuting daily, utility on weekend (Diy, hobby)
I'm looking to get a new pickup truck in SW AZ good for daily driving, light offroading, and occasional hauling. I want something with 4WD and reliable primarily with a good amount of power. I've been looking at Tacomas but can barely find anything that isn't extremely high mileage so I've been looking a lot of F150s as they are plentiful and fall within the budget much more easily. The only concern I have is my primary desire is reliability. My experience is that Fords are okay WITH lots of TLC, but Toyotas can handle a lot more. I've never owned a Chevy/GMC or Ram, but am open.
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2023.06.04 00:06 StillComprehensive11 Next service alert
| I’ve always been a bit confused by the startup service alerts. What service is needed? My 2019 only has 10k miles. These alerts seem to pop up much more frequently than the 7.5/15/30k etc maintenance schedule. Is this alert just an oil change? submitted by StillComprehensive11 to KiaSoulClub [link] [comments] |
2023.06.03 22:14 pandasinmoscow Struggling to get even an interview for the most entry level tech positions. Help?
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2023.06.03 21:12 PM_ME_UR_FAXES 2023 ITIN Guide (2022 Tax Forms) for Canadians to Churn US Credit Cards
2022 1040NR / W-7 ITIN Application Guide - Gambling Income Method
The purpose of this post is to provide a simple step-by-step guide for Canadians to apply for and obtain an ITIN so that they can apply for US credit cards and take advantage of US credit card signup bonuses. This guide involves submitting a Form W-7 Application for ITIN and a 1040NR non-resident tax return to the Internal Revenue Service (IRS).
This is a method that should apply to most Canadians.
Please leave all questions as comments, as I often browse through this thread without logging in and generally do not respond to DMs. Disclaimer
I am not a qualified tax professional, so please use this guide at your own risk. The information provided here is for educational purposes only and should not be used as official tax advice.
Notice about Paid Services
Paid services are available, but they are not necessary as the forms are simple to complete. I do not endorse any specific service. If you choose to use a paid service, ensure that their PTIN and full name are disclosed on any 1040NR form you file.
The preparation of a tax return for compensation, including the 1040NR non-resident tax return discussed below, requires that the preparer be registered with the IRS, and the preparer must include the PTIN and their personal information (including their name) on the second page of the 1040NR under "Paid Preparer Use Only", irrespective of the method of submission. If you pay for a service that prepares for you an 1040NR (including a "draft" of such a return), and fails to disclose their PTIN on the documents you file, that preparer may be subject to IRC 6695 penalties, injunction and/or disciplinary action.
If you are using a paid service always ensure that their PTIN and full name are disclosed on any 1040NR you file. It protects you too, as they can be penalized by the IRS for unauthorized disclosure or use of your personal information.
Big Picture: How it Works
There are very specific reason where the IRS will issue an ITIN. These include to obtain tax treaty benefits, to file a tax return, and more. Throughout the years, administrative efficiency has taken away the need to issue an ITIN for the purposes of obtaining a tax treaty benefit. So if you have been reading about obtaining an ITIN by saying "I need an ITIN to reduce my withholding tax with Amazon/Smashwords", this no longer works, it is not worth your time to try.
Instead, the ITIN can be obtained by filing a tax return declaring some amount of U.S. income, which I will share with you upfront, although paid ITIN services will skirt around informing you of this directly. The fact that you haven't actually earned anything is irrelevant here (unless you don't want an ITIN lol). The self-declared income can be sourced from US-based online casinos, so you don't even need to set foot in the USA to claim US-source gambling income (as noted by Prince of Travel).
Think of it as "I have $85 USD of gambling/interest income sourced from the USA (e.g. gambling: specifically from blackjack, baccarat, craps, roulette, or big-6 wheel; interest: interest from a US source), and I'm an upstanding person so I need to report it to the IRS".
This guide will use gambling income, but it only takes minor changes if you want to report interest income instead on your 1040NR instead.
Timeline
The time it takes for you to receive your ITIN letter varies greatly but appears to have settled around 1.5 months in 2023 at the time I updated this post. You may want to read through comments in this thread or the
2022 thread (for 2021 tax forms), to see other people's timelines. Please share your own! I sort the threads by New in order for newer data points to be more visible.
Who it won't work for:
- People eligible for a SSN (are eligible to work in the USA and don't need an ITIN)
- People who already have an ITIN (it will require minor modifications to submit for renewal)
- People who have other sources of US-source income (please get professional tax help)
What you'll need to prepare the forms:
- Download the following forms
- W-7 Form (and the W-7 instructions for reference)
- 1040NR Form
- Supplementary forms and schedules to the 1040NR: !!!!* Schedule 1 !!!!* Schedule OI
- Proof of identity, Canadian passport preferred, see below
- A listing of dates you were physically present in the USA for, for the year you are filing for (currently 2022 tax year) - it's ok if this is zero.
- Number of days in USA for each of the three previous years (2020, 2021, 2022)
- Your Social Insurance Number (Canada)
What you don't need:
- Proof of gambling income - you are self-declaring gambling income, and in practice the amount of income you declare is less than the amount required for a casino to issue you a W-2G (a form that declares your gambling winnings)
- To step foot in the USA during the year you are filing - you are self-declaring gambling income from an online US-based casino
Completing the W-7 (Rev Aug. 2019)
- Screenshots of completed forms (square is optional)
- At the top right of the form, select Apply for a New ITIN
- Under Reason you’re submitting Form W-7., check b
- Complete the Name section, must match your passport
- Complete Mailing Address: Foreign is okay - IRS will return your documents here
- Complete Foreign (non-U.S.) Address: Yes, you need to write it out again even if it's the same as Mailing Address
- Birth Information: Complete. If your birth country is not recognized as one by the USA, you will need to fill in a country recognized by the USA.
- Countries of Citizenship: You need to enter all the countries you have citizenship in 6a
- Foreign Tax I.D. Number: You MUST enter your Canadian Social Insurance Number in 6b
- Type of U.S. Visa: Leave blank. If you have a US Visa (e.g. F-1, TN or H1-B) and are physically working or studying in the USA, do not use this guide. If you have a temporary visa, you can choose to enter it here (see my comments)
- Identification Document Submitted: Check Passport, enter Canada, your Passport Number and the expiry date, leave blank date of entry
- 6e: No
- 6f: leave blank
- 6g: leave blank
- Sign Here: Sign in ink and enter the date and your phone number (Canadian phone number okay)
- Acceptance Agent's Use ONLY: Do not complete
2022 Form 1040NR:
- Screenshot of completed form (square is optional)
- Filing status: Single, Married filing separately or Qualifying Widower (widowed within last two calendar years, and have a dependant)
- Name: Must match W-7
- Identifying number - leave blank
- Complete preferred foreign mailing address
- Virtual currency: This is about cryptocurrency, NFTs and other digital assets and is explained on Pg 15 of the 2022 1040 Instructions, tl;dr just need to put yes/no, don't need to actually report income on return.
- Dependents: You don't have to claim dependents, just leave it blank
- Line 8: Enter that magical number greater than $75 and less than $100 that you're claiming as your gambling income
- Line 9: Same as Line 8
- Line 11: Same as Line 8
- Line 15: Same as Line 8
- Line 16: If your number that you picked above was >=75 and <100, then enter 9 (for 2022), otherwise consult Page 3 of the Tax Table
- Line 18: Enter the same amount as Line 16
- Line 22: Enter the same amount as Line 16
- Line 24: Enter the same amount as Line 16
- Line 26: 0 (Zero)
- Line 32: 0 (Zero)
- Line 33: 0 (Zero)
- Line 37: Same as Line 16
- Line 38: Leave blank - your income is less than $1,000, therefore you should not owe a penalty according to Form 2210.
- Third Party Designee check no, unless you are doing this for P2 and want to
- Sign Here: Sign in ink, date and enter your occupation. Phone and email are optional. Leave PIN blank.
- Paid Preparer Use Only: Leave blank
Schedule 1:
- Screenshot of completed form
- Name at the very top of page
- Part I, Line 8b: Enter the amount from Line 8 of your 1040NR
- Line 9: Same number
- Line 10: Same number
- There is a Page 2, you can include it blank in your application or omit it entirely
Schedule OI:
- Screenshot of completed form
- Name at the very top of page
- A: What country you were a citizen or national during the tax year (legal immigration status)
- B: What country were you a tax resident of during the year: if you live and work in Canada, it is probably Canada only
- C, D, expected to be no
- E: Write "N/A - Not present in U.S. — No U.S. immigration status" into the line, unless you were physically present in the USA on Dec 31
- F: No
- G: List all dates you entered and left the USA in 2022 (this includes layovers), only applicable if you were physically present in the USA, Possible_Quantity_57 suggested checking the I-94 site for your travel records
- H: Number of days that you were present in each of 2020, 2021 or 2022 (partial days count as a full day) - note that you should get professional tax help if (Days in 2022) x1 + (Days in 2021) x1/3 + (Days in 2020) x1/6 >= 183, since you meet the Substantial Presence Test and may be a U.S. tax resident
- I, J, K: expected to be no, leave the second Yes/No for both J and K blank
- L: Leave blank
- M: Leave blank
Job done!
Congratulations! You finished completing the forms! The next step is to submit the forms to the IRS, briefly here are the four options:
- Book an appt by phone and show up in person to an IRS Taxpayer Assistance Center in the USA, must have completed all docs and bring them to appt (no mailing required), you do not need a certified copy of your passport.
- Mail in your forms along with the original copy of your passport (the IRS will return it by mail)
- Mail in your forms along with a Certified True Copy of the passport, obtainable from Service Canada in-person or by mail. You will need to write a short letter to Service Canada telling them you need a certified copy of your passport e.g. "I am requesting a certified copy of my passport as the US Internal Revenue Service requires a certified true copy of a travel document. This document will be used as proof of identity in the application of a Tax Identification number needed to file a US Non-Resident Income Tax Return."
- Apply via a Certified Acceptance Agent ($$$)
Mailing instructions:
Mail signed W-7, signed 1040NR, Schedule 1, Schedule OI and proof of identity (e.g. original passport or certified true copy of passport) to:
Internal Revenue Service
ITIN Operation
P.O. Box 149342
Austin, TX 78714-9342
USA
Suggested method is via registered mail with Canada Post (~$15), for proof of delivery and tracking. If you are using a private courier (e.g. UPS, FedEx, etc.) use the mailing address on Pg 6 of the W-7 instructions.
IRS Taxpayer Assistance Center - In-Person Appointment
You can submit your forms in-person at an IRS Taxpayer Assistance Center (TAC),
located across the USA and available by appointment only during normal business hours. Applying at a TAC saves you from having to mail in your original passport or paying for a certified true copy of your passport.
Call 844-545-5640 to schedule an appointment in advance, up to 2 months before, you will need one appointment per person, even if they are your spouse. Some people have reported difficulty calling from a Canadian phone number, and have been able to obtain success using a VoiP to make the appointment. Others have also reported success from calling 267-941-1000 (not a toll-free number) and letting the phone agent transfer you to the proper line. If the lines are busy, you will need to keep trying until you get through - I would recommend calling with a couple different phones until you get through.
You will need to bring your passport, as well as a duplicate copy of your forms so they can stamp them as received. Upon completion, they will inform you that you will receive a letter letting you know of your ITIN application results mailed to your home.
Appointment length differs based on the agent that serves you. There are data points that go from 20 minutes per person up to 1 hour. Some data points indicate that the clerk at the TAC may confuse your application with another reason of registering for an ITIN (e.g. meeting the substantial presence test). Remember that the clerk's role is to make sure your application is complete before submission, and they do not make any determination on your ITIN application. Kindly remind them that the reason you are filing is to file a tax return (the 1040NR) and that you need it submitted to the ITIN group for their consideration.
Payment
As noted previously, you will owe a small amount of tax to the IRS. Comprehensive instructions on how to
pay your US taxes are online.
You can either pay with filing of your 1040NR, or after you receive your ITIN. The easiest way may be to obtain a $USD money order from a Canadian bank (TD, BMO and HSBC are all capable of this), and submitting it with your TAC appointment, or the mailing of your application.
If you have a U.S. bank account (not a $USD account at a Canadian bank) you can also pay by online banking, but only after you obtain an ITIN.
From my own research, if you have a BMO premium chequing account (account fees waived for a minimum balance of $6,000), you're eligible for a BMO $USD chequing account (no fees for withdrawals/deposits), and $USD money orders issued at no fee.
Aren't I Late on filing/paying my taxes for 2022?
If you are concerned about filing your 2022 after the April 18, 2023 filing deadline, it appears from Form 2210 that there is no penalties due if your income is less than $1,000. You will still owe interest on late payment, you can add $2 or $3 to the amount you owe to cover.
I lost my ITIN Letter!
If you lose your ITIN or your ITIN letter, you can get the ITIN by calling the IRS at +1 267-941-1000 and provide your name, mailing address, birthdate. You can then request a generic letter with your ITIN to help you with proof of your ITIN.
ITIN Expiry
Your ITIN will expire. I have not seen any evidence of them reassigning an ITIN to someone else
yet, but the possibility exists.
End note
This post was written for free.
I'd appreciate it if you would spend a moment to share your timeline (application, ITIN letter, return of proof of identity) and any additional tips you think should be noted! Appreciate the thought. :)
Questions? I do follow this thread. Please post in this thread, do not DM me.
Also, PM me your faxes.
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2023.06.03 17:42 AisMyName Is $2,500 for 5yr/50k planned maintenance a good/bad deal?
2023 rx 350 hybrid. Dealer says he will cut me a smoking deal for $2,500 to get 5 years of all service. I looked up the maintenance schedule and it says every 10k/1yr an oil change+cabin air filter, 1.5yr replace the batteries in your keys, and everything else is inspect inspect inspect…. It sounds like a rip off from what I see, but I had to ask. I have an independent shop we have been using for years that is Toyota/lexus/Hyundai/etc and they always had very fair pricing for work actually performed.
Thanks!
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Lexus [link] [comments]