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Kevin O’Leary: Don’t buy a car, do this instead

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Thinking about purchasing a new set of wheels? Pump the brakes, advises personal finance expert and star of ABC’s “Shark Tank” Kevin O’Leary. It could take a major toll on your finances.

“You’re thinking about buying a car. Let me give you a new idea: Don’t,” O’Leary tells CNBC Make It.

“Cars cost a fortune in maintenance and insurance and just the amortization, which means as they go down in value, you’re losing money,” O’Leary explains. “Let’s say I pay $25,000 for it. Two years later, it might be worth only 12 [thousand dollars].”

Don’t lease one either, says O’Leary.

Take public transportation if you can or do what O’Leary did.

“When my lease came up just a year ago on a Mercedes Diesel, a beautiful SUV that was 2 years old and I’d hardly ever driven because I used so many shared ride services, the dealer called me up and said, ‘Kevin, your lease is coming up. I’ve got a brand new car you’re going to love,'” O’Leary recalls. “And I said ‘I’m going to pass; I’m going to drive this puppy back to you, and wave goodbye to it.’ And now, I don’t own it anymore.
“I use my phone to call Uber or Lyft and they take me around the city. I save a fortune. I feel good about it,” O’Leary says. “I hate cars.”

O’Leary suggests others who need to drive do the same, even if you have a daily commute to work or school.

“Even if you use a car every day to get to work, it’s still cheaper to use a shared ride service, because you can choose the level of luxury you want. You can share the ride with somebody else,” O’Leary says, referring to services like UberPool and Lyft Line. “I know people that go miles for only eight bucks. They’re taking advantage of a system that’s actually democratizing the cost transportation. Why aren’t you?”

While O’Leary has anecdotal evidence, a 2017 analysis from personal finance website Nerdwallet did the math on commuting daily. It found that in a number of places, Uber could actually be a cheaper option as opposed to driving your own vehicle: Out of 20 metro areas, Uber is the cheaper option in Chicago, Illiniois; Detroit, Michigan; Los Angeles, California; Miami, Florida; New York City; San Diego, California; Washington, D.C.; and San Francisco, California, which had the biggest savings at $83 a week. However in other urban areas, including Dallas, Texas and Phoenix, Arizona a personal vehicle remains more economical. Phoenix area commuters had the highest savings at $135 a week, according to Nerd Wallet.

Whatever the case, use your savings to start building wealth, says O’Leary.

“The whole idea is pay off your debts by not buying stuff you don’t need,” O’Leary emphasizes.

“You don’t need a car. You’re working in a city where you can either take the subway or basically use a shared service. Try both. But don’t get stuck parking $25,000 into a car. I don’t need it. Why should you?”

Source: https://www.cnbc.com/2018/09/27/shark-tanks-kevin-oleary-dont-buy-a-car-do-this-instead.html

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Couple arrested in fatal 2016 attack on Long Island woman

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A former New York City correction officer and his 21-year-old girlfriend have been charged in the fatal beating of the woman’s mother on Long Island.

Nassau County police say 27-year-old Ralph Keppler and 21-year-old Francesca Kiel, both of Lynbrook, were arrested Sunday on murder charges.

Police say the victim, 56-year-old Theresa Kiel, was brutally attacked and struck in the face with a metal barbell at her apartment in Long Beach in December of 2016. She lost and eye and remained in a vegetative state until she died this Saturday.
Prosecutors had alleged the motive to be a business dispute.

Keppler had been charged back in January with attempted murder and assault and was out on bail. His lawyer says he’s innocent.

Information on Francesca Kiel’s lawyer wasn’t immediately available. Both Defendants were scheduled to be arraigned on Monday in First District Court in Hempstead.

Source: http://www.fox5ny.com/news/couple-arrested-in-2016-attack

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Woman Beaten in Subway Station by Man Yelling Racially Charged Words: Family, Police

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A woman was punched and stabbed when she got off the subway in Brooklyn by a man yelling racially charged words, her family and police said.

The victim, 57-year-old Ann Marie Washington, was hospitalized Sunday after having surgery for a collapsed lung due to the stabbing, her family told NBC 4 New York.

Washington, a mother of two, was on her way home from work Friday evening and had just stepped off the subway at the Church Avenue stop in Brooklyn when she was attacked, advocates said.

The man, who was white, punched her in the mouth and stabbed her in the chest while calling her a “black b—-,” advocates said. Washington, who is black, is a native of Trinidad.
The attacker fled on a Q train, police said. The victim said he appeared to be in his early 30s, about 5-feet, 3-inches tall, and wearing grey and black sweatpants and a black hooded sweatshirt.

Police didn’t initially call the attack a hate crime, leading to outrage from neighborhood advocates who held a news conference Sunday.

“If this was a white resident, a new gentrifier to this neighborhood, there would be swarms of cops here,” said Imani Henry of Equality for Flatbush. “But when it is a black person who is attacked by a white racist, there isn’t anything.”
Afterward, the NYPD said its Hate Crimes Taskforce would look into it. Police said they didn’t have all the details at the time the crime was reported.

Washington didn’t realize she had been stabbed until she got home, advocates said. Even then, she thought she had been scratched in the chest until she woke up the next morning, said Kenzia Bernard Nau, a witness and a neighborhood advocate.

Advocates said witnesses shot video and there should be surveillance video of the suspect, but police haven’t released it.
“The fact that the video isn’t out right now, this is completely insane,” Bernard Nau said. “This is going to keep happening.”

Source: https://www.nbcnewyork.com/news/local/Woman-Beaten-in-Subway-Station-by-Man-Yelling-Racially-Charged-Words-Family-500238922.html

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It’s back: NYC’s rare Mandarin duck makes grand return to Central Park

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The Mandarin duck that has caused crowds of people from around the world to flock to Central Park has made its grand return after a brief disappearance.

The duck, native to Asia, was first spotted in the Central Park Pond at 60th Street and 5th Avenue on Oct. 10. Tourists and New Yorkers alike couldn’t resist the urge to see the bird for themselves and headed to the park in search of the rare bird.

After making appearances at multiple bodies of water in the area, some cried “fowl play” when the bird seemed to suddenly disappear earlier this week.

The NYC Parks Department released the following statement:

“While we are not tracking the Mandarin duck, we’ve noted that he’s appeared healthy and has regularly moved between water bodies in Central Park. We don’t know his exact location at this time. Almost all ducks migrate seasonally. While we’re happy to have had him visit our parks, it’s important to remember that at some point he may leave New York for warmer temperatures.”

As long as the duck doesn’t appear injured or in need of care, rangers will not make an attempt to capture it.

“While it’s exciting to spot such a rare bird in NYC’s backyard, like every other celebrity sighting, New Yorkers should know to give him space and not to disturb him,” Deputy Director of the Urban Park Rangers John McCoy said.

It remains a mystery how exactly the duck ended up in Central Park. There has been some speculation he may have formerly been a pet, but he has since effortlessly been adopted into the park’s urban flock.

By Thursday afternoon, social media was abuzz with the bird’s return to its home base in the park.

Source: https://abc7ny.com/pets-animals/its-back-mandarin-duck-makes-grand-return-to-central-park/4648131/

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