Investment banking losses
Posted on December 11, 2008 in Microsoft picture it! photo premium 9
Banks and investment banks are unlikely to go under in the present market crisis but their earnings are bound to take a hit. Deutsche Bank and Merrill Lynch are the latest additions to a growing list of investment banks hit by losses in fallout of the sub-prime crisis. Earlier, Citigroup, UBS and Credit Suisse all had issued profit warnings. Lehman is among the few banks to have weathered the storm better than expected. he losses are in billions of dollars and heads are rolling merrily. he sources of loss in banking are the following: Direct losses from exposure to sub-prime securitiesLoans for takeovers that have ended up on the books of banks- this will require higher allocation of capital and the terms on which these were negotiated are unfavourable in the changed context in which interest rates have shot upFee income from structured products will declinePrivate equity income will be hitInterbank financing costs are higher, this will impact margins How to maintain out the storm? Having a large contract base helps. Further, equities contain risen too this may compensate thanks to weaker succeeded income markets. Banks intent additionally be biased to exhilarate income from emerging markets- that may easily translate the surge medially flows into markets identical owing to India additionally the boom interpolated the Sensex medially recent weeks. Labels: Banking
Tags: bank, income, losses, market, investment
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Bankruptcy may be next at some papers
Posted on December 09, 2008 in Microsoft picture it 9
Bankruptcy court may be the next stop for some of the most precariously financed newspaper publishers. As awful as the prospect sounds, it actually could be a good thing for the newspapers, because a Chapter 11 bankruptcy filing enables a struggling company to restructure its debt, streamline its business and potentially put itself on a sounder footing for the future. Not all Chapter 11 filings are successful. In some cases they lead to the eventual liquidation of the business through Chapter 7 or some other means. And any bankruptcy action almost certainly would wipe out the equity of such investors as the owners of Philadelphia Media Holdings, the Minneapolis Star ribune and Sam Zell and his fellow employees at ribune Co. Fears of imminent bankruptcy already have driven public companies like GateHouse to 33 cents a share and Journal Register Co. to 1 cent, so neither has much further to go. Bad as the loss of their 182 million investment might be for the equity shareholders of Philly Media, Chapter 11 could give management a lot of leverage in rescuing the business from outright collapse. he Philly example discused here generally applies to any financially stressed publisher owing more money than its sales- and profit-challenged business can afford to repay. Under the auspices of a bankruptcy court, Chapter 11 gives a company the right to walk away from unnecessary leases on real estate, equipment and vehicles. It also lets a company renegotiate bills owed to creditors, enabling debts to be settled for cents on the dollar. Wages, benefits and other obligations to employees usually are unaffected by a bankruptcy filing. Bankruptcy protection would give Philly Media?? s creditors an incentive to renegotiate the 380 million loan the company?? s weak profits no longer can service. Because the company was unable to make its scheduled debt payment over the summer, penalties nearly doubled the interest rate on its loan to 9.5 , according to Standard and Poor?? s, the bond-rating service. A renegotiated deal with Philly?? s lender, the Royal Bank of Scotland, might trim the interest rate, lengthen the maturity or get the bank to write off a certain portion of the borrowing. Bond traders already have discounted the debt of companies like Philly Media, ribune, Star ribune and others to 50 cents on the dollar ?? or less. So, a reduction in principle may not be as far-fetched as it sounds. Last but not least, Chapter 11 typically gives a company like Philly Media the ability to terminate the restrictive and anachronistic labor contracts that stand in the way of the efficient operation of a company that is literally fighting for its life. Before anyone thinks I am anti-union, remember that my father was a union man, my mother was a union woman and I was a proud member for many years of the Chicago Newspaper Guild. But these are perilous times, and unions, instead of protecting antiquated prerogatives, need to act constructively to preserve as many jobs for their members as possible. While Chapter 11 provides a respite for a troubled company, it is only a respite. At some point, a business either has to emerge from bankruptcy as a going concern or go down the tubes. In the latter event, everyone loses.
Tags: bankruptcy, company, chapter, philly, media
oshiba Satellite A205-S5841 15.4-inch Laptop 1.73 GHz Intel Pentium Dual Core 2370 Processor, 2 GB RAM, 160 GB Hard Drive, DVD Drive, Vista Premium
Posted on December 09, 2008 in Microsoft office cheap
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Under 5 Hanging Fruit Worth 1.3 rillion?
Posted on December 09, 2008 in Microsoft money 2005 download
I found this article of interest. Not only because how big this market is, but how easy it can be penetrated. From NWA News.com For credit card cos, no purchase is too small for plastic. For years, Marcia Levi refused to accept either credit or debit cards for purchases under 10 at her downtown gift shop, Chocolate Moose. Customers complained. She lowered the threshold to 5. Customers still complained, so two years ago she gave up on any minimum. People come in and charge 2.25 for a card or 1.75 for jelly beans, said Levi, who co-owns Chocolate Moose with her sister Barbara. It 8217;s annoying. In the past two years, they 8217;ve just whipped out the card without thinking about it, no matter how small the purchase. he persistence of her customers was no accident. Visa International, MasterCard Inc. and other card companies are working hard to make sure that no purchase is too small for plastic. Faced with a saturated market where just about everyone who wants a credit card has one, the companies have set their sights on what by one estimate is the 1.32 trillion in cash spent every year on purchases less than 5. Emboldened by consumers willing to download songs at 99 cents a pop or cell phone ring tones at 2 apiece, card companies are courting fast-food chains, taxi- cab companies and parking-meter manufacturers that have traditionally accepted only cash. Card companies tapped out the low-hanging fruit within the merchant community, said David Robertson, publisher of the Nilson Report, a payment card trade journal. Now they 8217;re going after merchants that have been reluctant to accept credit and debit cards. Visa and MasterCard 8212; joint ventures made of up of thousands of banks that issue credit and debit cards 8212; prohibit merchants from setting minimum payments. American Express, which issues it own credit cards, discourages minimums but allows them if the merchants apply the same limits to other cards they accept. Card company executives recognize that the fee structure is a deal-breaker for many of the cashbased merchants they 8217;re pursuing. When Visa stopped requiring signatures for purchases of 15 or less in 2003, it also relaxed the merchant fees it charged. As a result, Visa transactions at fast-food restaurants nearly doubled in dollar value between 2003 and 2004, Pascarella said. Another pitch is faster transactions. Swiping cards without signing receipts is much faster than fumbling around for pocket change, they say. And now, all the major card companies are experimenting with getting rid of the swiping altogether so that transactions move even faster. Combine no minimum dollar amount requirements and a contactless solution no paper, or keypads and you have created an entry to a 1.32 trillion dollar market. his will be done with a contactless credit card, sending an SMS, or waving your cellphone over a reader. It s easy, quick, hassle free, gets miles and you get a monthly statement itemizing EVERY purchase. his creates a huge opportunity for credit card companies AND service providers in my opinion.
Lottery Scam: several
Posted on December 08, 2008 in Quark express
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Dear Winner, WINNING FINAL NOIFICAION We are pleased to inform you of the result of the Lottery Winners International programs held on the 3rd march 2005 . Your e-mail address attached to ticket 77007742781005-18721 with reference number 414-3721060 drew winning numbers 7-00-71-00-66-49 and credited to batch number 121cfg, which consequently won in the 3rd category. You have therefore been approved for a pay out of 1,800,000.00 One Million Eight Hundred housand Pounds . kind jackpot scam blah blah Sincerely yours, Paul David Programs coordinator Capital Group Scam combine two was sent from 211.117.81.133 WHOIS: Hanaro elecom Inc., Seoul, Korea achievable Mon, 30 May 2005 20:50:07 -0000. he consideration from issue used was omegalottopromo netscape.dividend . I ll sampling the full gist of that individual, for it s a little distinct from the dimension. BACH NO.1130410NL OMEGA LOERY PROMO INERNAIONAL. PROMOIONS PRIZE AWARD DEPARMEN DEAR WINNER, RESULS FOR SECOND CAEGORY DRAWS. After a successful completion of the B category draws of OMEGA LOERY PROMO INERNAIONAL. You have emerged one of the winners of the OMEGA LOERY PROMO INERNAIONAL, which is part of our promotional draws. Participants were selected through a computer ballot system drawn from 30,000 email addresses of individuals and companies from America,Africa, Asia, Australia, Canada, Europe, Middle East,and New Zealand as part of our InternationalPromotions Program. You Your Company, attached to: ICKE NUMBER:GWS 0002 1247 021 REFERENCE NUMBER:GWS KKK SR YHG1 As a category B winner, you have been selected by computer balloting system where only email addresses are soughted,from a total numbers of 10,000 email addresses drawn from all over the globe. After an automated computer ballot of our International Promotions Program consequently won in the second Category. You have therefore been awarded a lump sum pay out of One Million Euros EUROS1,000,000.00 in cash, which is the winning payout for second category winner. his is from the total prize money of 10,000,000.00Euros shared among the eight international winners in the SECOND category. CONGRAULAIONS! You have to contact GAEWAY SECURIIES for immediate remittance your E-mail address won the lucky number. o avoid mix up of numbers and names of any kind, we request that you keep this award strictly from public notice until the entire process of transferring your claims has been completed, and your funds remitted to your account. his is part of our security protocol to avoid double claiming or unscrupulous acts by participants of this program. required by GAEWAY SECURIIES . We also wish to bring to your notice our End of Year high stakes where you stand a chance of winning up to 10 million Euros; We hope that with a part of your prize you will participate. o begin your claims process please contact your claims agent. MR.PAUL BLAKE. FOREIGN SERVICE MANAGER. GAEWAY SECURIIES BV. 60 AMERSFOORSESRAAWEG. 1251AV LAREN AMSERDAM, HE NEHERLANDS el: 31-650-924-978 Fax: 31-617-424-411 EMAIL: infogatew netscape.net for due processing and remittance of your prize money to a designated account of your choice. Remember, you must contact your claim agent not later than one week of receiving this message. NOE: o avoid unnecessary delays and complications,please remember to quote your REFERENCE and ICKE numbers provided below in every one of your correspondence with your claims agent. You are to provide the below details,to enable the speedy evaluation and processing of your winnings. we advice that you adhere strictly to their procedures to avoid any disqualifications and subsequent cancellation. 1. My Full Names: 2. Adresses:Home Office 3. Direct elephone Fax Numbers the above detailed information will be absolutely necessary to file in your claims. Congratulations once again from all our staffs of GAEWAY SECURIIES. thank you for being part of our promotions program. Sincerely, HE LOERY COORDINAOR, OMEGA LOERY PROMO INERNAIONAL. SUSAN SCHULZ. N.B. Any breach of confidentiality on the part of the winners will result to disqualification. Please do not reply to this mail. Contact your claims agent. Finally, we withhold scam figure three, received from 199.181.134.42, which is a designated mail-sender thanks to Bout.com s extricate webmail ministration. he recent EuroMillions scam came via the resembling cast. he revenue from shanty used was noreplies1111111 approval.com , Also the spam landed onward Wed, 01 Jun 2005 11:23:51 -0000. DE LOO INERNAIONAL PRIZE AWARD DEP. REF Number: KML 231-ILGI0431 05 BACH No: EAPA 15 096 KMLM ICKE No: 20511465463-7644 SERIAL No: 472-9768-98 LUCKY No: 8-66-97-22-65-99 RE: WINNING FINAL NOIFICAION Sir, Madam We are pleased to inform you of the result of the Lottery Winners International programs held on the 31st of May 2005 Your E-mail address attached to icket number 20511465463-7644 with Serial number 472-9768-98 drew the lucky numbers 8-66-97-22-65-99, which consequently won in the 1st category, you have therefore been approved for a lump sum payout of US 1,000,000.00 One Million United States Dollars . his is from a total cash prize of USD 10,000,000.00 Million shared amongst en International Lucky Winners in the Category A Plus . some boring guff left out o file for your claim, please contact our your processing agent Mr. Harry Herman. Email: harry0122 excite.com some along boring guff left out Yours truly Johanna Pieterman Lotto Coordinator
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Posted on December 07, 2008 in Cheap soft
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Pump and Dump: SHO
Posted on December 06, 2008 in Quark express
Pump besides trade, or faultless a business of stupid masses paying spammers to drum their product? Who cares! It s all told the consistent nuisance, either regulation. he spamming facility is, halfway that matter, 80.13.252.142 ARennes-203-1-8-142.w80-13.abo.wanadoo.fr. , together with the spam was received Along Sun, 05 Jun 2005 13:02:24 0000. Sorry if the division is still wide, but force is along short to secure spam pretty. radeshow Marketing Company SHO A product development and specialty retail company that is set to operate ONV Brand stores nationwide. Current Price: 0.47 Is his an Undiscovered Gem that is Positioned to Go Higher? Review Exactly What this Company Does. Break News!! rade Show Marketing Company Ltd. SHO announced the appointment of Mr. Norm F riend as Head of International Franchise Development for the company. About Norm F riend Norm F riend is widely recognized as an expert in expansion strategies, franchise development and franchisee recruitment with over 20 years experience in all aspects of franchising. F riend is co-author of the two best-selling franchise books -- he Complete Canadian Franchise Guide hard cover , and So You Want to B u y a Franchise . He also wrote the original text for the Canadian Franchise Association s publication Investigate Before You Invest . He has contributed numerous articles on franchising and business to various publications, been interviewed extensively by the media and presented numerous seminars and keynote talks to business organizations, universities, colleges, professional associations and financial institutions throughout North America. radeshow Marketing Co. SHO , a product development and specialty retail company, announced that it has retained Excel Relations Investor Relations to lead a strategic investor relations and public relations program. As investor relations counsel for he radeshow Marketing Company, Excel will use its multi-phased method to raise investor, media and industry awareness, positioning the company for suitable financing to accommodate their growth plans. he investor relations program will build and inform the shareholder base by generating awareness in the investment community of the Company s goals and growth strategy. Excel will deploy its proven blend of print and electronic media exposure as well as direct communication with the media, retail and institutional community. We are pleased to have Excel Relations working with us to increasee the interest from the investment community, said Peggie-Ann Kirk, SHO s Chief Financial Officer. Initiating our nationwide expansion program and seeing the potential the Company has in both the short and long term future, we were seeking to partner with a highly experienced and respected IR firm to introduce our story to the investment community and help us improve our visibility. Excel is a firm with great experience, a solid reputation and an aggressive, results oriented approach that should benefit our investors through increased shareholder value. About rade Show Marketing Company Ltd. rade Show Marketing is a direct sales oriented company focused on the development and distribution of a wide range of products for the home and office environments. he Company will soon be ramping up a multi-pronged sales approach for introducing and distributing consumer goods in North America and beyond. he Company will be orchestrating five complementary sales channels retail, television, trade show demonstration sales, print catalogue and an E-Commerce online catalogue to achieve its goals. rade Show s founders have twenty years of experience in direct sales in both the storefront retail and trade show demonstration sales environments. Via trade show demonstration sales, the company has introduced a wide range of new products direct to consumers through select fairs, tradeshows and exhibitions throughout Canada and the United States. Products are selected which are innovative, well priced, and have universal appeal. radeshow Marketing is planning to operate ONV style stores nationwide. ypically located in high-traffic regional shopping malls, the stores will feature a unique mix of both new and proven consumer products and popular ONV items. hey will be launching their e-commerce web site in mid 2005. Conclusion: he Examples Above Show he Awesome, Earning Potential of Little Known Companies hat Explode Onto Investor s Radar Screens; Many of You Are Already Familiar with his. Is SHO Poised and Positioned to Do that For You? hen You May Feel the ime Has Come to Act... And Please Watch this One rade Monday! Go SHO. Pen ny sto cks are considered highly speculative and may be unsuitable for all but very aggressive investors. his Profile is not in any way affiliated with the featured company. We were compensated 3000 dollars to distribute this report. his report is for entertainment and advertising purposes only and should not be used as investment advice.
Dolls For Big Boys and Girls: he Dude, Hitchcock Barbie, Even An Obama Doll.
Posted on December 05, 2008 in Picture it! photo premium 9
he 2008 International Comic-Con is coming to San Diego in mid July the 23rd- 27th . he biggest comics and pop culture event isn t only for sci-fi and anime nerds anymore and the four day memberships are already sold out. Every year at Comic-Con, several companies release limited editions of their products or introduce what they think will be hot sellers for the upcoming holiday season. his year they have everything you d expect; hot tv show action figures from such hits as Heroes and Adult Swim, sexy japanese anime dolls and yes, more Star Wars products. However, in addition to releasing the usual plethora of action movie genre dolls like Iron man, Flash and the Incredible Hulk, there are some unusual and might I say, hip action figures debuting that will conjure up nostalgia for the 30 crowd. Celebrating Alfred Hitchcock s classic film, this incredible Mattel Barbie Collector s doll features the Hitchcock heroine being attacked by a trio of fine feathered foes, just like ippi Hedren in the movie: Stands about 11 1 2-inches tall. Available for pre order here. Don t miss he Dude-- Unemployed! A Comic-Con Exclusive Action Figure of he Dude from he Big Lebowski. Dressed in his bathrobe and slippers, he stands 8-inches tall and comes with loads of hilarious accessories: sunglasses, robe, White Russian, milk carton, ID card, and genuine cloth rug! Jeffrey he Dude Lebowski is a real laid-back kind of guy. He enjoys bowling, driving, and having the occasional acid flashback. In the classic film Big Lebowski,this humble pacifist and his bowling buddies become entangled in a web of embezzlement, supposed kidnapping, and alcoholic laced hijinks! Also making their product debuts at Comic Con, Big Lebowski Urban Achiever 8-Inch Figures Series 2 Set: Lebowski figures available for pre-order here. From the cult-classic film Reservoir Dogs, the movie that launched Quentin arantino s career, comes this exciting set of Action Figures: It includes 5 articulated characters with connecting display bases: Mr. White, Mr. Orange, Mr. Blonde, Mr. Pink, and Mr. Brown. Each stands 7-inches tall and includes various cool accessories: gun, sunglasses, base, and more. Subject to change. Order these dogs now! In 1973, one film redefined the horror genre and created an instant pop sensation. From one of the most terrifying films of all time, comes this Exorcist Spider Walk Regan 7-inch action figure. Regan balances on her head and hair to recreate the notorious Spider Walk scene. Regan comes with a detailed staircase display base and multiple points of articulation, including a ball-jointed neck, swivel forearms, and swivel legs. Pre-order the creepy freaky Exorcist Regan doll here. Get your dragon suit ready. If you wanna be like Jimmy, that is. From his launch with he Yardbirds to his raving success with Led Zeppelin, nobody riffed like Jimmy! his Jimmy Page 7-inch plastic action figure comes all decked out in his signature dragon suit, complete with double-necked guitar, speaker cabinet, and amp. Grab the legendary rocker now, in all of his guitar-god glory! An action figure you can believe in! he 6-inch tall Barack Obama action figure brings you young America s favorite political son in genuine plastic. Sporting 8 points of articulation, this figure can help show the world who you believe deserves their vote! Pre-order Obama here. And yes, a John McCain action figure that you can pre-order here arrives in August as well. And believe it or not, A Dexter action figure is coming soon. Clearly, I am not too old to play with dolls. Other upcoming odd but perversely appealing toy releases worth noting: Steiff is releasing a Mohair Buddha Bear. Now, if that doesn t tell you that Buddhism has permeated mainstream society, I don t know what does yes, I m still waiting for Buddha Barbie . Above: he 9-inch tall Buddha Bear is made of brass-colored mohair and his facial expression, posture, and aura were inspired by classic Buddha figures. He is 5-way jointed and his legs are slightly bent. his enables him to sit in the lotus position in which energy can flow freely. His belly is somewhat large and his nose, mouth, and claws are embroidered with gold-colored thread. he corners of the black eyes are hand painted in order to give his expression depth and dignity. Limited edition of 2,008 pieces. 249.99, available for pre-order now. Especially random: he Desperately Seeking Susan Minimates 2-pack: Above: Return to the 1985 classic that introduced Madonna to the big screen with this Desperately Seeking Susan Minimates 2-Pack. Featuring Susan Madonna and her pseudo-double Roberta who was played by Roseanna Arquette , these comical figures include the ultimate 1980s fashion styles and the film s signature skull hatbox! Designed and sculpted by Art Asylum, each 2-inch Minimate features 14 points of articulation and a world of possibilities. Available in October. 9.99. Pre-order them here. Mattel s Barbie Juicy Couture Doll: Above: From the Gold Label Vintage Reproduction line, this gift set featuring Dolls styled in the high fashion of Juicy Couture. Complete with all the accessories a couple of girlfriends would need to live the Juicy Couture lifestyle. 119.99 Available for pre-order now. Medicom s LOS Kubricks! From ABC s hit series, Lost comes these cute little Kubricks that are just too fun to resist. his display case of 24 pieces includes an assortment of 7 different character, each individually packaged in a blind box. he assortment may include the following characters: Locke, Jack, Kate, Sawyer, Sayid, Charlie, Hurley. 189.99 pre-order them here. 2008 Comic Con website.
Replies to Comments
Posted on December 05, 2008 in Microsoft office cheap
I have a sudden rush of comments on this blog. I am answering them in a single post to cope with my own lack of time, but also because some of these questions can be compared better when colocated. It s 3AM here so please forgive the typing errors. Reed Hedges has left a new comment on your post Reconsidering Second Life : hanks Len, insightful. We re hoping that we can address all or most of these concerns as Interreality 3D moves forward http: www.interreality.org , especially the problem of doing private business in public phone booths , and connecting to existing standards like X3D. I support Interreality. hat is one group with good plans and a laser-like focus. Go!! ian has left a new comment on your post Standards for Virtual Worlds: Only Money Matters : Interesting ... you say that the rise of the private worlds hosted on the business systems of a company is inevitable and always has been ... I wonder if you see this trend being extended to individuals as well? VRML worlds started as private worlds. Many of the worlds hosted in the Blaxxun systems were originally private worlds. he technical issues there are private hosting and the bandwidth required. he economic issues depend on how services are provided. One can if one has the knowledge host on a local server, but realistically, this would a job, for example, for the cable system providers or other sources of Internet hosting who can manage the worlds, VOIP, any persistent data sources and so forth. Given that most server farm providers for the VRML X3D worlds currently offer private residences, some variation on that with contract guarantees for privacy could work. Right now, I don t see the demand but all Internet products start from that position. he challenge here is skill. Not many people have the right mix of artistic and technical talent to build and host a world. Starter kits for this are necessary as well as hosting services. Alex has left a new comment on your post Cross Breeding XML: ake A Walk On he Wild Side : Len, good point - we need simple open XML markup that can be parsed into X3D VRML - hacking away prototype like that just now - X3D blog micro-worlds. Good luck, Alex. See Ian s question. I ve also seen prototypes for worlds that consume RSS and Atom. So far, none have been compelling visually. 3D tends to be bad at consuming and presenting text. In the SL vs here competition, I read that the search services are a differentiator as well. Integration of formats in 3D worlds is a major area for innovation particularly in the GUI. One reason the VRML movement began to fall apart was the lack of really well integrated text systems. VRML is spectacularly bad at that and so are the new generation of 3D clients. For now, the mixed toolkits seem to be the best answer. he Cortona combinations do a good job there. Jordi R Cardona has left a new comment on your post Worlds of Worship : I would be very happy to be able to include churches of SOME religions not all, some are very untolerant in my future 3d community, but I hope not to face too many 3d trolls annoying them. Your idea seems good. he trolls we shall have always, to paraphrase the Good Book. his comes down to community leadership and practices. he web is a troll kingdom and has been since it was Usenet. Worship oriented worlds may have a positive impact on world building because instead of starting from a position of all come; do your own thing , they start from rituals and and acceptable practices. his is exactly the opposite of Second Life. When you join a church, you are expected to behave accordingly and if you don t, you are expected to be asked to leave and if you don t, you are shunned. olerance and intolerance within bounded communities are the definition of community. A problem of private worlds is exactly that this is both an advantage and a disadvantage. errorists use private websites to conduct training as well. Don t expect the usual authorities not to create means to monitor them. Jordi R Cardona has left a new comment on your post Reconsidering Second Life : As a general thought about SL, I find 3 things of SL specially annoying: 1 Pretending they are a NEW solution. 2 Pretending they are the ONLY solution. 3 rying to MONOPOLIZE the market. Because: 1 he 3d chat communities are not new. From raveller to Blaxxun, Active Worlds, etc. all they were before it, and they all succeed to some degree. SL has not invented a new thing. 2 here are many 3d chat communities working at this moment and all of them generate money for their owners. Not millions of dollars, but enough for them. 3 I hate those visions about companies that jump over the Web3d concept and try to eat all the others behaving like big fishes. hey should tolerate the existence of others. And regarding point 3, I think SL is very centered on cybersex, which is the reason for many people and companies to leave it. So they may offer themselves as a 3d sex chat, which is their strong point. hat way they won t harm the image of ALL the other 3d communities Yes. SL and the metaverse mafia have been less than honest, less than ethical, and not very bright though very persistent in their disinformation campaigns to sell their wares. Some at least put their real names on them, others use anonymity and treat the real world as if it were the game world. It would be pathetic but it is too much like the radical talk radio people who convinced a nation to go to war based on fear and hate mongering. Watching large companies help that effort has been disturbing. I am losing respect for them as they are becoming more manipulative than their competition that they take so much time to dis in other forums. he cybersex aspects don t bother me although you are right that smart companies should put some distance between themselves and this if for no other reason than this is not their business and these are not their customers most of the time. Possibly the worst abuse of humanity this side of physical violence or depriving people of survival goods such as food, water, shelter, etc., is to use sex or control of sex as a means of obtaining power. From the scale of one on one relationships to the attempts by States to regulate private consensual behavior among adults see Alabama s law forbidding the sale of sex toys: most embarassing , this is one of the twists in our societies that causes far more problems than those caused by people having autoerotic affairs with cartoons. he topic of modern morals or the lack thereof is far bigger than we can discuss here. One might note as others have, cybersex is the safest sex on the planet. Someone will write back to tell me about the infidelity made easy and yes, for individual marriages, it is a problem. hose marriages have other problems and cybersex is a symptom. Frankly, I d be more concerned about a generation that considers marriage disposable as evidenced by the term starter marriage and the rise in office affairs among the office geishas trading on youth to obtain status for power. here is a very funny but very accurate Saturday Night Live skit on that topic. As I said, sex for power is a sickness and it is epidemic. At least in 3D space, that sickness is quite limited. hanks for the comments!
Advance Fee Fraud: Akimo Danjuma
Posted on November 28, 2008 in Quark express
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Restrictions on capital flows- Sebi proposals
Posted on November 28, 2008 in Microsoft picture it! photo premium 9
Not to sound boastful but I wasn t perturbed at all when I learnt this morning that trading had been halted after a steep fall in stock prices triggered the circuit breaker. I was awaiting clarifications from official sources that would calm the markets. hat s exactly what happened. After the PM and the SEBI chairman came on the air, the market recovered to end the day around 400 points lower- a considerable recovery from the fall of 1700 points earlier. he draft regulations circulated by Sebi, which will become law with or without some minor modifications by October 20, are intended to curb capital inflows into the country. It will do so by curbing the volume of Overseas Derivative Instruments Participatory Notes , instruments through which foreign investors can invest in India even if they are not registered as Foreign Institutional Investors. PNs constituted 51.6 of Assets under Custody AUC in August 2007, 30 of which had derivatives as the underlying. he RBI has long been in favour of phasing out PNs but the finance ministry was resisting because it didn t want the stock market run to stop. With the kind of rise in the Sensex we have seen in recent weeks, the ministry, no doubt, reckons that a correction is affordable. Sebi s proposals are as follows: 1 FIIs and their sub-accounts shall not issue renew ODIs with underlying as derivatives with immediate effect. hey are required to wind up the current position over 18 months, during which period SEBI will review the position from time to time. 2 Further issuance of ODIs by the sub-accounts of FIIs will be discontinued with immediate effect. hey will be required to wind up the current position over 18 months, during which period SEBI will review the position from time to time. 3 he FIIs who are currently issuing ODIs with notional value of PNs outstanding excluding derivatives as a percentage of their AUC in India of less than 40 shall be allowed to issue further ODIs only at the incremental rate of 5 of their AUC in India. 4 hose FIIs with notional value of PNs outstanding excluding derivatives as a percentage of their AUC in India of more than 40 shall issue PNs only against cancellation redemption closing out of the existing PNs of at least equivalent amount. So, the idea clearly is to limit investment in the Indian market through PNs. here has always been a problem about the identity of investors holdings PNs. For that reason alone, restrictions on PNs are welcome. But will it help meet the objective of curbing capital inflows? In the short run, yes. In the long run, no, for the simple reason that the volumes waiting to enter India are enormous. Once PNs are barred, we should see an increase in those wanting to register as FIIs. I am sure the finance ministry and Sebi recognise this. But a breather on the capital inflows is welcome- and the present proposals will provide just that. JP Morgan estimates that the ouflows on account of the unwinding of PNs with derivatives as underlying could be 4-7 bn; the unwinding on account of PNs issued by sub-accounts of FIIs will be even larger. Of course, all this will happen over a 18 month time horizon although it may not be evenly spaced out over that period. Forex additions this year have been 50 bn- the addition considered comfortable was around 25 bn. In relation to overall capital inflows, the outflows that will be triggered by the Sebi move will be a minor speed-breaker. International factors remaining the same, it will slow the rise in the Sensex over the next few months. But it does provide some breathing space for RBI in terms of managing the exchange rate- the way things were going, it appeared the rupee would soon touch Rs 35 to the dollar. In macroeconomic terms, the Sebi move does not amount to much over the long term. It does little to alter the trend towards rupee appreciation. But, as I said, it gives a little time for adjustment to appreciation- and that is exactly what Indian industry needs and can expect at best. Rupee appreciation can be managed, not eliminated. he combination of a rising stock market and rupee appreciation would have meant capital inflows on an uncontrollable scale. hat would have had a severe impact on the Indian economy. he speed-breaker imposed by Sebi is good for the economy. It is also good for the stock market. I think the market will recognise this - and continue its climb. Labels: Indian stock market