iNews Briefs, More & Community Events
Community Events
Meeting Requests with Family Support Unit at RCIPS
The Family Support Unit (FSU) at the RCIPS has temporarily relocated to Elizabethan Square due to damage to the Smith Road office where it was situated. The FSU would like to inform the public that they are available to meet individuals with inquiries or reports regarding domestic violence, child abuse, or other sensitive family-related issues at Police Headquarters. Individuals wishing to meet with the FSU should inform reception at Headquarters, and a representative from the FSU will be called and meet with them in a separate office.
The address for Police Headquarters is:
Amerigo House, Fourth Floor
Elizabethan Square
69A Elgin Avenue
George Town
FSU can be reached at 946-9185, but any emergencies should be reported to 911.
NWDA Visit to Cayman Brac
Representatives from the National Workforce Development Agency (NWDA) will be available to meet with Employers and Job Seekers, and assist with online registrations, resume preparation and other job search activities.
Wednesday 15th July 2015 9:00am – 5:00pm
Thursday 16th July 2015 9:00am – 5:00pm
Friday 17th July 2015 9:00 am – 2:30pm
Workshop
Job Search Strategies
Thursday 16th July 2015 2:00pm to 5:00pm
DLP Office, 256 Creek Road
To register call 945-3114 or email [email protected]
Appointments
Appointments can be made by calling 945 3114 and walk-ins are welcomed.
Download attached flyer
WED JULY 15
Floetry
Meeting at Book & Books Camana Bay
6:30pm – 7:30p Note new time
If you love poetry please come and join in.
Meet Sioux, the new manager of Books & Books
National Workforce Development Agency in North Side
The National Workforce Development Agency will be at the North Side Library on Wednesday (15 Jul) from 2 — 5pm.
THU JULY 16
Labor Relations Bill North Side
The next public consultation meeting for the Labor Relations Bill is Thursday (16 Jul) at the North Side Civic Center.
National Gallery Summer Arts Drop Ins
The National Gallery of the Cayman Islands is thrilled to be hosting a Summer of Art, free programming that allows kids to utilise their creativity by participating in a range of imaginative activities. Drop-in sessions will take place in the National Gallery Education Centre every Thursday afternoon from 2:00 PM — 4:00 PM Each Summer Camp Drop-in session is different and gives kids ages 6 to 14 multiple opportunities to take part in a range of art-related activities including stenciling, creative group activities, painting, drawing and more.
Cayman Islands Realtor pleads ‘Not Guilty’ to stealing deposits
Antonio Paolini (75), an American Realtor with Cayman Real Estate Co, appeared in Court last Friday and pleaded not guilty to stealing $94,000 worth of deposits given to him by customers who were buying condos from his company.
The charges leveled against Paolini were two involving separate deposits of $51,000 and $43,000 and a charge of money laundering in connection with a wire transfer of over $1,100.
Paolini’s trial has been scheduled for April next year and he was released on bail.
Thaw in US-Cuba relations heightens business expectations
By John Paul Rathbone From Financial Times
There is a new entry among Cuba’s roll of important dates. Alongside Fidel Castro’s 26th of July movement and the January 1 1959 “triumph of the revolution”, there is now December 17 2014.
That was the day when Barack Obama and Raúl Castro, the US and Cuban presidents, announced that they wanted to normalise bilateral relations and end more than 50 years of cold war enmity.
To be sure, communist Cuba was already changing. After formally becoming president in 2008, Mr Castro began a tentative economic liberalisation process to boost the country’s flagging economy — especially urgent now that Venezuela’s growing crisis jeopardises the $1.5bn of aid it sends every year.
But the December 17 announcement lit a bonfire of expectations among US businesses — even if Cuba’s $80bn economy, for all its exotic allure, is much the same size as the Dominican Republic’s.
“There is a new sense of excitement, of US companies coming to look and thinking of starting seed businesses,” says one long-established European investor in Havana. “It makes sense. Start small, learn how the system works and then see how it all goes.”
So, how might it all go? US and Cuban officials have warned that expectations are too high. “Prospects [in Washington] for lifting the embargo in the short term are dim,” cautions Michael Shifter of the Inter-American Dialogue think-tank.
The notion that US businesses and tourists might soon turn Cuba into a Disney-style communist theme park with McDonald’s outlets spread along Havana’s seafront is also unlikely; Havana has run its own government for 56 years and is proud of its sovereignty.
Furthermore, even if the US embargo were to end overnight, the island still faces an “internal embargo” — the thicket of Soviet-style bureaucracy and centralising socialist attitudes that makes doing business difficult.
“All of Raúl’s economic reforms involved decentralisation, which is good, as Cuba needs that,” says Rafael Hernández, editor of Temas, a state-published cultural magazine. “The problem is this . . . has not happened.”
For more: http://www.ft.com/intl/cms/s/2/15afe7cc-fb0e-11e4-9aed-00144feab7de.html#axzz3foIT3mms
Canada’s de Guzman has seen it all
HOUSTON, Texas – Things are vastly different these days for Julian de Guzman.
The team’s standout performer when Canada reached the 2007 CONCACAF Gold Cup semifinals, de Guzman is now a wise, 34-year-old veteran.
He has been entrusted with responsibility of helping Canada’s younger generation make a smooth transition to international football at the senior level.
“From the role I had in 2007, lots have changed not just for myself but around me,” de Guzman said. “A lot of the players have come through the ranks. When I look back at 2007, we were probably able to field 10 solid players max. Today, we could field two solid teams, so the depth has increased and obviously just the composition alone you can see in training sessions.
“Each player brings a lot of qualities to the side, so it’s definitely a booster for guys like myself and especially the veterans who are there. We are helping the younger guys come along and so far it’s gone really well.”
As a 26-year-old in 2007, de Guzman scored two goals on the way to being voted the Gold Cup’s Most Valuable Player.
The Canadians have endured some trying times since then, failing to advance past the group stage in the last two Gold Cups. But the arrival in 2013 of former Real Madrid manager Benito Floro as head coach has signalled better times.
“The professionalism of the team is a lot better since Benito has been around,” de Guzman expressed. “What we have learnt on the tactical side of things, I think individually a lot of players have improved. Now it’s just a matter of us being able to gel together as a team and performing well in the games.”
Can days similar to those when Canada won the 2000 Gold Cup be far behind?
“From what I remember from the 2000 team, we won that year so it was very special and it is something that a lot of the guys in this team would like to experience and repeat that moment,” de Guzman finished. “But again, that’s 15 years ago and we have to take it step by step with the whole transition and the whole revolution that we have going in the Canadian program.”
After drawing with El Salvador (0-0) and falling to Jamaica (1-0), Canada will play its first-ever Gold Cup game on home soil Tuesday, completing Group B action against Costa Rica at BMO Field in Toronto.
From CONCACAF
Mourant Ozannes advises on £138 million sale of Bizspace
Leading offshore law firm, Mourant Ozannes, has advised the Bizspace group in connection with the £138 million sale of its assets and property portfolio to global alternative investment fund Värde Partners.
Bizspace, which leases commercial units, offices, studios, industrial units and storage to hundreds of businesses, has a six metre square foot commercial property portfolio comprising of 97 multi-let sites located throughout England and Scotland.
The sale of the Bizspace assets and property portfolio, dubbed Project Spring, was managed by PricewaterhouseCoopers and Savills on behalf of RBS, HSBC,
Nationwide and AIB (as part of a co-operation agreement between Bizspace and its creditors).
Mourant Ozannes’ Finance and Corporate team, led by partner James Hill with associate James Daniel, acted as Bizspace group’s Jersey legal counsel on the sale, working alongside Addleshaw Goddard LLP, who acted as English legal advisers.
James Hill commented: “We are delighted to have been asked to advise on the sale and it was a pleasure working with the wider team. The UK has been a magnet for global capital in recent years, particularly the real estate market, and Jersey has helped to facilitate and structure many of those deals. It is fantastic for the Island to be building relationships with so many large, global institutions.”
Cayman Islands: Final Call for YCLA nominations
This is our 15-year Anniversary event, and all eyes will be on the five finalists selected for the Award.
Who will be number 15?
Thank you for your interest in the YCLA and we hope you will nominate a deserving young Caymanian for recognition by the Young Caymanian Leaders Foundation.
Click images to enlarge
Upcoming CONCACAF Confederation Action
*Eastern Time (Local Time)
CONCACAF Gold Cup 2015
Tuesday, July 14, 2015
18:00 Jamaica vs. El Salvador – BMO Field, Toronto, Canada
20:30 Canada vs. Costa Rica – BMO Field, Toronto, Canada
Wednesday, July 15, 2015
18:00 Cuba vs. Guatemala – Bank Of America Stadium, Charlotte, USA
20:30 Mexico vs. Trinidad & Tobago – Bank Of America Stadium, Charlotte, USA
Thursday, July 16, 2015
No Games Scheduled
Friday, July 17, 2015
No Games Scheduled
Saturday, July 18, 2015 *
17:00 1st Group B vs. 2nd Group A — MT Bank Stadium, Baltimore, USA
20:00 1st Group A vs. 3rd Group B/C — MT Bank Stadium, Baltimore, USA
Saturday, July 19, 2015 *
16:30 2nd Group C vs. 2nd Group B — MetLife Stadium, New Jersey, USA
19:30 1st Group C vs. 3rd Group A/B — MetLife Stadium, New Jersey, USA
*match order subject to change
FIFA Beach Soccer World Cup Portugal 2015
Tuesday, July 14, 2015
08:00 Mexico vs. Iran – Espinho Stadium, Espinho, Portugal
Toronto Pan Am Games 2015
HAM-CIBC Hamilton Pan Am Soccer Stadium, Hamilton, Canada
Tuesday, July 14, 2015 – Women’s Football
17:35 Argentina vs. Mexico
20:35 Colombia vs. Trinidad & Tobago
Wednesday, July 15, 2015 – Women’s Football
20:35 Costa Rica vs. Canada
Thursday, July 16, 2015 – Men’s Football
20:35 Panama vs. Canada
Friday, July 17, 2015 – Men’s Football
17:35 Mexico vs. Uruguay
20:35 Paraguay vs. Trinidad & Tobago
Saturday, July 18, 2015 – Women’s Football
17:35 Trinidad & Tobago vs. Mexico
Sunday, July 19, 2015 – Women’s Football
17:35 Ecuador vs. Costa Rica
20:35 Canada vs. Brazil
Mourant Ozannes advises Invesco on £70 million sale of property assets to Kildare
Leading offshore law firm, Mourant Ozannes, has advised Invesco Property Income Trust Limited in relation to the sale of its property assets to Kildare Partners for £70 million.
Invesco is an independent investment management company which set up Invesco Property Income Trust Limited in 2004 as a Jersey company, with a listing on the London Stock Exchange, to invest in UK and European real estate.
The Mourant Ozannes team which advised on the deal was led by partner James Hill and senior associate Andrew Salisbury. Mourant Ozannes provided Jersey law advice to Invesco Property Income Trust Limited on all aspects of the transaction.
Linklaters and Norton Rose acted as Invesco Property Income Trust Limited’s English legal advisers.
HBO orders second season of Ballers
MIAMI, FL – July 13, 2015 – HBO has renewed the original series Ballers for a second season. From creator Stephen Levinson (HBO’s Entourage and Boardwalk Empire), the comedy looks at the lives of former and current football players, following former superstar Spencer Strasmore (Dwayne Johnson), who is trying to reinvent himself as a financial manager for current players in sun-soaked Miami.
In addition to Johnson, cast regulars in season one include John David Washington, Omar Miller, Donovan W. Carter, Troy Garity, London Brown Jazmyn Simon and Rob Corddry.
Ballers kicked off its ten-episode season on Sunday, June 21st on HBO and debuts new episodes each Sunday at 22:00 hrs. AST* in the Caribbean. Episodes are also available on HBO GO and HBO On Demand, where available with participating providers.
The series joins a strong lineup of returning comedy series next year on HBO, which also includes “Girls,” “Togetherness,” “Veep,” “Silicon Valley” and “Getting On.”
Ballers was created by Stephen Levinson; executive produced by Stephen Levinson, Mark Wahlberg, Dwayne Johnson, Dany Garcia, Peter Berg, Evan Reilly, Rob Weiss, Julian Farino, Denis Biggs.
*Atlantic Standard Time. For more information and the programming schedule by country, consult your local provider or visit www.hbomax.tv.
Which TV channels profit the most from your cable bill?
The cable industry is in turmoil. Amid excessive pricing and the emergence of services like Netflix, the value proposition offered by traditional cable companies is arguably less compelling than it’s ever been. Underscoring this shifting market dynamic, The Wall Street Journal recently reported that ESPN in the last year alone has lost upwards of 3.2 million subscribers. Given that ESPN has long been the most profitable cable channel, this data point is certainly eyebrow raising.
Using this as a jumping off point, Bloomberg recently published an article delving into the economics that govern the cable industry. Of particular interest is this fascinating breakdown which highlights which cable channels profit the most from monthly cable bills.
Not surprisingly, ESPN nets the most cash from cable subscribers every month. Previous reports have indicated that ESPN receives approximately $4 from every cable bill, a rather sizable chunk given the vast number of channels that typically come with even the most basic of cable packages. Following way behind are TNT, Disney, Fox News, and USA.
For more: http://bgr.com/2015/07/13/cable-tv-profits-espn/
Air services agreement between Hong Kong and Barbados signed
The Secretary for Transport and Housing, Professor Anthony Cheung Bing-leung, on June 18 signed an air services agreement on behalf of the Government of the Hong Kong Special Administrative Region (HKSAR) with the Government of Barbados.
Representing the Government of Barbados was the Ambassador Extraordinary and Plenipotentiary of Barbados to the People’s Republic of China, Dr Chelston W D Brathwaite.
The agreement provides a legal framework for establishing air links between Hong Kong and Barbados, which will promote economic and cultural exchanges between the two places.
“The Government of the HKSAR welcomes the agreement. This is the 64th agreement signed by Hong Kong with overseas aviation partners under our liberal air service policy,” said Professor Cheung at the signing ceremony.
“To cope with our long term air traffic demand and to maintain our competitiveness as an aviation hub, the Airport Authority Hong Kong is now actively taking forward the expansion of the Hong Kong International Airport (HKIA) into a three-runway system. Upon completion of the project, the HKIA will be able to handle around 100 million passengers and 8.9 million tonnes of cargo annually by 2030, up from 63.3 million passengers and 4.38 million tonnes of cargo in 2014.”
SOURCE: http://www.info.gov.hk/gia/general/201506/18/P201506180715.htm
Four Caribbean countries identified as choice locations for business
From CARIBBEAN360
CASTRIES, St. Lucia, Friday July 10, 2015 – St. Lucia, Belize, Trinidad and Tobago and Haiti have been identified as countries outside the United States that companies will move to in five to 10 years.
That’s according to readers of Site Selection Magazine, an influential publication that highlights corporate real estate strategy and area economic development.
“In a tie with Eastern Europe, 31.4 per cent of respondents selected the Central/South America and the Caribbean and cited an educated workforce, the economic expansion of the region aided by the anticipated increase in traffic due to the widening of the Panama Canal and a growing middle class as some of the reasons behind the decision to invest in the logistics, automotive and chemical clusters,” explained Senior Editor of Site Selection Patty Rasmussen.
Location consultants and experts in foreign direct investment from around the world were asked where they would consider locating their investment in the next ten years, and why.
St. Lucia, Belize, Trinidad and Tobago and Haiti were among 13 countries identified as choice locations in the Central/South America and Caribbean.
Among the attributes identified for the feature ‘Locations of the Future’, survey respondents highlighted a large population with a burgeoning middle-class; political and economic stability; an industrious, well-educated workforce; and quality infrastructure as some of the incentives to investing in one regional location over another.
Scotiabank agrees to buy Citigroup’s Panama, Costa Rica units
By Doug Alexander From Bloomberg
Bank of Nova Scotia, Canada’s third-largest lender by assets, agreed to buy Citigroup Inc.’s banking operations in Panama and Costa Rica, the second deal between the two firms since December.
The purchase will add 27 branches and almost triple Scotiabank’s customers in the two countries to 387,000, the Toronto-based bank said Tuesday in a statement that didn’t include terms. It’ll also its increase market share of credit cards to about 18 percent in Panama and 15 percent in Costa Rica.
“This acquisition is in line with Scotiabank’s strategy to increase scale within its footprint and complements its operations in Panama and Costa Rica,” the bank said in the statement.
Scotiabank agreed in December to acquire Citigroup’s retail- and commercial-banking operations in Peru, a purchase that was completed in May and included eight branches and about 130,000 customers.
Citigroup was in talks to sell its retail businesses in Central America to Spain’s Banco Popular Espanol SA earlier this year. That sale would’ve included operations in Costa Rica, Panama, El Salvador, Guatemala and Nicaragua, though talks broke off in March because it didn’t fit with the Madrid-based bank’s strategy.
Scotiabank operates in more than 55 countries in Latin America, the Caribbean and Asia. The lender has targeted Mexico, Colombia, Chile and Peru as countries offering the best opportunities for growth.
Sidecar drivers sue over missing delivery tips
SAN FRANCISCO — A pair of drivers for ride-hailing service Sidecar sued Yelp Inc. on Friday claiming its newly acquired food-delivery startup withheld tips customers paid on digital bills.
Yelp paid $134 million in cash and stock in February for Eat24, a website and mobile platform that connects restaurants to delivery services and allows customers to order online. Eat24 enables customers to include a tip for delivery people when ordering or elect to tip in cash. The company has partnered with Sidecar in some locations, including the Bay Area, for delivery services.
In a complaint filed Friday, Sidecar drivers Steven Kay from Oakland and Esteban Polonski from South San Francisco claim that they haven’t received tips on orders where Eat24 customers paid with credit card, Google Wallet, and PayPal.
“What is more, [Yelp and Eat24] conceal from delivery persons the fact that a customer has left them a tip through Eat24’s online payment system, even though these tips are the sole property of Eat24’s delivery persons,” wrote Michael Schrag of the Gibbs Law Group in the proposed class action complaint. Plaintiffs seek to certify a class of all delivery people in the U.S. who weren’t paid tips owed them. The plaintiffs ask for both restitution and damages.
The suit, over an age-old employee issue of missing tips, addresses who is responsible for wage claims when they arise in the new on-demand economy and involve digital payments.
A spokesperson for Yelp said that suit “has no merit” and that neither Yelp nor Eat24 hire drivers. “For Sidecar-made deliveries, Eat24 sends all tips to Sidecar, who we understand then distributes those tips to Sidecar drivers,” the spokesperson said.
Schrag said in a statement that “for at least several months” Eat24 has collected tips that drivers haven’t received. Said Schrag: “As new aspects of the economy emerge it is important to treat fairly those providing the services.”
Rare thundersnow storm sweeps across south-eastern Australia on Saturday
A rare thundersnow storm swept across parts of Australia on Saturday night. The combination of snow and thunder hit overnight in the Blue Mountains west of Sydney. Forecasters say the phenomenon occurs when a body of Arctic cold air collides with a body of hot, humid air, according to 9news.com out of Australia on Sunday.
Thunder, lightning and snow were caught on video by residents of south-eastern Australia. Meteorologist Mick Logan with the Bureau of Meteorology said that a thundersnow brings the bang and rumble of a thunderstorm with snow falling instead of rain. Sometimes a bit of hail will also fall.
Said Logan, “It happens when the atmosphere is so cold that instead of getting rain, the bulk of the precipitation is snow.” According to Logan, records are not kept on how often thundersnows occur, but he had never come across one in the Blue Mountains. The plummeting temperatures and high wind shear on Saturday night brought the snowflakes.
Saturday night’s storms did produce some traditional thunderstorms, but the majority of what fell was snow, causing a dramatic light and snow show overnight. Two storms were basically occurring a the same time, according to Rob Sharpe with Weatherzone. Just enough “summery” storm conditions existed to create the combination thundersnow. One storm brought thunder and lightning while the second dumped snow on the ground.
Photos and videos shared the rare thundersnow event on social media. One weather watcher, Blackheath, filmed the lightning and snow and uploaded the video to YouTube. Falling snow dulled the sound of thunder, but the contrast of lightning and snow are quite visible. According to Blackheath, he witnessed hail, sleet and snow all before 10:30 p.m. local time on Saturday. “It’s crazy,” said Blackheath, “but I’m loving it.”
IMAGE:Rare thundersnow formation with an occluded front. Wikimedia Commons by JWIZMAN96
In hot water for speaking out against the regime, Cuban lawyer gets scholarship to Duke
By Julie Kay, From Daily Business Review
A Havana lawyer who got into hot water for speaking out against the Cuban legal system to a group of U.S. received some good news recently.
Osvaldo Miranda Diaz so impressed the lawyers he met last month on a trip organized by the Florida Bar’s international law section to Cuba that one obtained a scholarship for him to attend Duke University School of Law.
Miami solo practitioner Eddy Leal, who sits on the board of the North Carolina-based law school, secured a full scholarship for Miranda Diaz to attend Duke’s master’s of law program. Miranda Diaz plans to begin classes this fall.
Related Articles:
Cuban Investment on Horizon. But Is It Worth the Risk?
Havana Lawyer Assesses Cuban Legal System
Lawyers from the section are now trying to raise $24,000 for Miranda Diaz’s room and board for the year. Additionally, a Cuban tour guide is planning to donate proceeds from a planned December tour to Cuba toward the young lawyer’s living expenses.
It is unclear whether Miranda Diaz will return to Cuba after he obtains his degree or stay in the United States, Leal said.
“The doors are open to whatever he wants to do,” Leal said. “Duke gets candidates from all over the world, including Afghanistan, and I told them, ‘This is someone you should really look at for a scholarship,’ and I’m so pleased and happy they did.”
Miranda Diaz spoke frankly to the Florida lawyers during a lecture on the Cuban legal system, explaining how the system does not use jurors and calling the country’s criminal legal system “disgusting.” He later said he didn’t realize a Daily Business Review journalist was in the room reporting on the lecture. Sources said Miranda Diaz was harassed by the Cuban government for some of his comments.
For more on this story go to: http://www.dailybusinessreview.com/id=1202731981993/In-Hot-Water-for-Speaking-Out-Against-the-Regime-Cuban-Lawyer-Gets-Scholarship-to-Duke-#ixzz3fsPPiGmE
Emerging issues in International bankruptcy- A New York Law Journal Webinar
In this webinar we will discuss two key topics:
International Bankruptcy: Do Principles of Comity Exist in Parallel to Chapter 15?
Approximately a year and a half ago, the district court for the Southern District of New York issued an opinion that raises important questions about the reach and applicability of the doctrine of international comity in a post-Chapter 15 world- in fact, the case appears to significantly extend the reach of comity in the context of foreign insolvency proceedings. Notwithstanding its significance and passage of time, the opinion has received little attention; we believe it deserves careful consideration.
Jurisdiction Issues in Bankruptcy
Over the course of the last few years foreign debtors have strategically taken advantage of Chapter 11 to restructure their debts and sway worldwide collection efforts. Rick Hyman and Christine Walsh will discuss some of the multi-jurisdictional issues, statutory limitations and strategic considerations that may be in play when a foreign debtor chooses to file in the US, with particular attention to the TMT Shipping case in Houston. Among other things, they will address the limited connections a foreign debtor must have to the US in order to establish jurisdiction and defenses that might be available to creditors.
Please join us for two presentations followed by a panel discussion moderated by Farrell McManus, the Associate Publisher of the New York Law Journal.
Nabisco runs out of Oreo flavor ideas, brings back Oreo-flavored Oreos
By Laura Northrup From Consumerist
Maybe Nabisco has worn itself out this year, releasing novelty Oreo flavor after novelty Oreo flavor. That’s why they’ve come back around to one of their oddest recent flavor ideas: “cookies & creme” flavored Oreo cookies––that’s to say, Oreo-flavored Oreos. You can get them now in full-sized packages, even though they have no reason to exist.
The last time we saw the Oreoception flavor on the market, it was in packs of eight cookies. We’re no longer fazed by exotic cookie flavors: with creations like key lime pie Oreos and s’moreos out this year, we’ve given in to the weirdness. We accept these flavors.
Yet Cookies & Creme Oreos will never make sense. The flavor idea comes from the common ice cream flavor of cookies and cream, which is ice cream with small pieces of Oreos (or Oreo knockoff cookies) in it. The creme in this cookie seems to just have chocolate specks in it, but the name “Cookies & Creme” (not cream) describes a regular old Oreo. There are cookies and creme.
If this flavor interests you, a reader of The Impulsive Buy saw them in a Dillons store, and they’re an exclusive to Kroger-owned grocery stores. You’ll be able to find them there as long as their existence hasn’t torn a hole in the fabric of flavor and time.
One commenter at that site describes the cookies as tasting pretty much like regular Oreos:
IMAGE: (The Impulsive Buy)
Know the possible problems before you opt for run-flat tires
By Laura Northrup From Consumerist
If you’ve bought a new car or replacement tires for your old car lately, you may have had the pricey option of run-flat tires. The sales pitch for them is easy: while some people may enjoy changing tires or waiting for roadside assistance, most people don’t. Run-flats aren’t a foolproof way to avoid tire trouble.
One BMW owner told our sibling publication Consumer Reports that he thought the $2,500 tire insurance policy that the dealership offered him was outlandish, until he ended up replacing a total of eight tires at about $500 each. The problem is that run-flat tires aren’t immune to side-wall damage, which leads to unfortunate comparisons to the Titanic and unexpected flats.
Worse: the first time that this happened to the reader, he learned that his car came with a repair kit instead of a spare in the trunk. That’s a common issue with new cars. When you buy a car, new or used, you should know what kind of tires are on it before you take the keys: you could be buying a car in June that still has snow tires on it, for example. (Yes, this happened to someone I know. At a dealership.)
For more: http://consumerist.com/2015/07/13/know-the-possible-problems-before-you-opt-for-run-flat-tires/