Unocal, Bush and China 16 y
Watch how this "situation" unwinds, it will be the telltale harbinger of the rest of our lives and the lives of those behind us.....It is a critical decision
With Bid for Unocal, U.S. Struggles on China Policies
By RICHARD W. STEVENSON
Published: June 26, 2005
WASHINGTON, June 25 - President Bush’s initial response to the proposed takeover of a major American oil company by a Chinese rival has been to duck. It is not hard to see why.
Dealbook: The Hidden Benefits of China’s Shopping Spree The $18.5 billion offer by the China National Offshore Oil Corporation for Unocal, which had already made a deal to be acquired by the American oil giant, Chevron, is forcing the administration to confront its own internal rifts over whether China sh ... read more
Boone Pickens on Crude Prices 16 y
Geez, I haven't seen or heard of a ol' Boone in quite sometime! Here's an old dawg of a driller from 35 years+ in the oil industry-My bet's with Boone and with Bush since his family fortune was/is built on oil. Wonder if any refineries are scheduled to be built on "closed" military bases yet?
Boone Pickens Sees Oil Prices Going Higher By BRAD FOSS, AP Business Writer
Wed Jun 22, 3:23 PM ET
NEW YORK - Oil tycoon Boone Pickens’ bet that energy prices would rise made him more money in the past five years than he earned in the preceding half century hunting for riches in petroleum deposits and companies.
And even as crude futures have doubled since 2000 to almost $60 a barrel, the 77-year-old Texan sees no reason to take his chips off the table. ”I can’t tell for sure where we’re going, ... read more
Passion and Money 16 y
Passion and Money the ideal love relationship!
From the South Florida Sun-Sentinel
The Savings Game
To be wealthy, first learn what makes you tick
If you want to know the ”secret” of financial success, look in the mirror.
I am going way beyond the notion that your financial plan must fit your unique goals and risk tolerance. I’ll explain by discussing two books I just read, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker (HarperBusiness 2005) and The Millionaire Code: A Smarter Approach to Making Millions by Paul B. Farrell (Wiley 2005).
I became curious about Eker’s book a ... read more
China Owning UNOCAL OIL? 16 y
Well, I can't believe we'd OK such a takeover- but if the Chinese "state run" oil company owns Unocal won't they make sure they have oil before US gets their "fair" share? A very interesting ehtical, and economical question....
Chinese Oil Giant in Takeover Bid for U.S. Corporation
By DAVID BARBOZA
and ANDREW ROSS SORKIN
Published: June 23, 2005
SHANGHAI, Thursday, June 23 - One of China’s largest state-controlled oil companies made a $18.5 billion unsolicited bid Thursday for Unocal, signaling the first big takeover battle by a Chinese company for an American corporation.
The bold bid, by the China National Offshore Oil Corporation ( CNOOC), may be a watershed in Chinese corporate behavior, and it demonstrates the increasing influence on Asia of Wall Street’s bare-knuckled takeover tactics.
Seventy-t ... read more
Credit Card Info Stolen 16 y
More Identity Theft risks, by accessing stored credt card transaction records....
Lost Credit Data Improperly Kept, Company Admits
By ERIC DASH
Published: June 20, 2005
The chief of the credit card processing company whose computer system was penetrated by data thieves, exposing 40 million cardholders to a risk of fraud, acknowledged yesterday that the company should not have been retaining those records.
Skip to next paragraph
Points of Contact on the Data TrailThe official, John M. Perry, chief executive of CardSystems Solutions, indicated that the records known to have been stolen covered roughly 20 ... read more
Interest Rate Hedge 16 y
Interest Rates Rising, Stocks on the cusp-The Anthology of Astrology in the Spirit of Money?
How to Hedge Against a Rate Rise
By Gregg Greenberg
TheStreet.com Staff Reporter
6/20/2005 7:02 AM EDT
Click here for more stories by Gregg Greenberg
Looking for protection against rising interest rates? You’ve got two options, each with its pros and cons.
The question arises as investors once again weigh whether the latest rate jump is for real. That’s a big if, given numerous head fakes lately.
Still, rates have bounced back after bottoming on May’s weak jobs report. Following a brief spell below the psychologically important 4% level, the yield on the 10-year note has ... read more
$60.00 a barrel? 16 y
And this is not surprising as the oil industry pretends to think-
Rumors Put Oil Traders on Edge
By SIMON ROMERO
Published: June 18, 2005
HOUSTON, June 17 - A hint of a terrorist threat in Nigeria, a major supplier of crude oil to the United States, and worries about a lack of refining capacity drove energy markets into a frenzy on Friday, pushing oil over $58 a barrel, a record.
Crude oil for July delivery climbed to $58.60 a barrel before settling at $58.47, up $1.89. Some traders said oil might reach $70 a barrel, driven primarily by demand in China and the United States. Fears over what might affect the supply, rather than what is actually ... read more
US$ Reuter's Wire 16 y
Just to read all the differing views on the same data, headspinningly silly number crunching...It's up to you to make your reality...
Dollar weakens on soft capital inflows
Wed Jun 15, 2005 4:50 PM ET
NEW YORK (Reuters) - The dollar weakened on Wednesday after data showed that surprisingly weak capital inflows into the U.S. in April failed to cover the trade deficit for that month.
This was the second consecutive month that net Treasury International Capital (TIC) inflows failed to cover the U.S. trade gap, underscoring analysts’ concerns that despite its 2005 rally, the dollar’s structural frailties have not disappeared.
The dollar index, a broad measure of the dollar’s value against a basket of major curr ... read more
Europe:EU$ 16 y
Is this enough to explain currency relationship?
Europe’s Next Problem Is All About Money
Published: June 16, 2005
PARIS, June 15 - It was supposed to be a celebratory summit meeting, an occasion for the leaders of the 25 European Union countries to congratulate one another for the progress made in ratifying their first common constitution.
Skip to next paragraph
Thierry Charlier/Associated Press
Prime Minister Jean-Claude Juncker of Luxembourg, the president of the European Union.
Instead, national interests have trumped solidarity.
With the constitution floundering after its brutal rejection by voters in ... read more
Buffett and the U.S.$ 16 y
Well, are we lucky? Or solid? Who cares as long as life is going our way....hmmmm
How Buffett Tripped Over the Dollar
By Jon D. Markman
6/16/2005 7:12 AM EDT
Six months ago, the value of the U.S. dollar was on the firing line as it plunged to a record low vs. the euro. Amid fears that a united Europe would surmount the spendthrift U.S. as a safe haven for financial assets in a tumultuous world, investors worldwide -- led by noted Nebraska sourpuss Warren Buffett -- heaped scorn on our currency and scolded U.S. lawmakers to get the federal deficit under control.
But a funny thing happened to all those dollar bears. Their contempt ... read more
"Frothy" Real Estate Lending? 16 y
Lending Policies to slow down the housing market???
UPDATE 2-Fed’s Bies eyes guidance on real estate lending
Tue Jun 14, 2005 03:20 PM ET
(Recasts, adds details)
WASHINGTON, June 14 (Reuters) - Huge price gains in an ever-hot U.S. housing market may be pushing buyers to speculate on real estate and driving lenders to lower their standards in handing out loans, a Federal Reserve governor said Tuesday.
Overall credit quality remains ”good,” but federal regulators want banks to maintain sound lending practices and consider the ability of borrowers to meet their obligations, said Federal Reserve Gov. Susan Bies.
Her comments add to a s ... read more
WorldCom 16 y
Gee, Co Inky Dink, Jp Morgan is involved with the World Com underwritings....wonder if Spitzer should be looking at the investment banking business?...?
European Banks Join WorldCom Settlement
By Matthew Goldstein
3/10/2005 5:01 PM EST
With a week to go before the start of jury selection in the massive WorldCom class-action litigation, the list of banks reaching a settlement with investors keeps growing.
The latest banks to settle with former shareholders and bondholders of the once mighty telecom are European banking concerns WestLB and Caboto Holding. Together, the two banks agreed to pay $112.5 million.
The latest settlements were announced Thursday by New York State Comptroller Alan Hevesi, the trustee f ... read more
JP Morgan 4B for Enron 16 y
JP Morgan settles again to the tune of another 2B, even for a bank this size 4 billion dollars is a substantial amount!
9th~ It just flabbergasts me the amounts and the ease with which these banks are rolling over...I wish I was an attorney trying the case...WOW!
J.P. Morgan Settles Enron Suit
By TSC Staff
6/14/2005 8:37 PM EDT
Updated from 8:01 p.m. EDT
J.P. Morgan Chase (JPM:NYSE - news - research) has agreed in principle to settle a pending federal class-action lawsuit brought on behalf of Enron security holders.
Under the terms of the settlement, J.P. Morgan will make a payment of $2.2 billion to the settlement class, the company said in a statement late Tuesday. Plaintiffs’ attorneys’ fees will be paid out of the settlement.
It’s the second $2 billion settlement for J.P. Morgan, the nation’s third-largest bank, in just three mo ... read more
I.R.S. goes after Presidio Tax Shelter 16 y
Who are the investors in this shelter that has the IRS prosecuting? Well know corporate entities, and owners.
Court Case Gives Rare Look at Tax Shelter Clients
Ed Andrieski/Associated PressJoseph P. Nacchio, the former chief executive of Qwest Communications International, was one of those who invested in illegal tax shelters, according to court papers filed by Presidio, the firm that sold the shelters.
By LYNNLEY BROWNING
Published: June 11, 2005
Promoters of tax shelters zealously guard the names of their wealthy clients. But in mounting an unusual court challenge against an Internal Revenue Service ruling that branded a certain tax shelter abusive and illegal, a promoter of the shelter ha ... read more
Citibank pays 2B in Enron Fiasco 16 y
An interesting turn of Events, now your bankers are responsible for your bad accounting. I guess Citibank, didn't want to kill the Goose laying the Golden Egg....But is it their responsibility to kill the Goose? Or is it their responsibility to "just say 'no'" to underwriting shaky firms?
Citigroup Agrees to Pay $2 Billion in Enron Scandal
By JULIE CRESWELL
Published: June 11, 2005
In the first significant shareholder settlement since Enron collapsed more than three years ago, Citigroup has agreed to pay $2 billion to investors who accused the bank of aiding Enron in its accounting scandal.
The agreement is expected to increase the pressure on other Wall Street firms named in the lawsuit, including J. P. Morgan Chase, Merrill Lynch, and Credit Suisse First Boston, to settle rather than risk a much bigger payout in a court ruling.
Paying for Its Mistakes
Text ... read more
Motley Fools Speak 16 y
Motley Fools answers his Critic with Peter Lynch-ese, eg-Buy the companies you know...there is one caveat (well probably more than one-but one BIG one) that you understand and know management style-which is Peter Lynch ala Warren Buffett, ala Benjamin Graham.....It is like a golen chain of Masters in Kundalini Yoga...the Wisdom (and other substances) flows downline.
Let’s Hear It for Joe Oddlot
You’re bombarded with ads on TV, radio, and even the Internet that say you can’t be a superior investor. You need an MBA. You need to have been on Wall Street. You’re just another Joe Oddlot. You can’t possibly beat the market, right? Balderdash.
By Tim Beyers (TMF Mile High)
June 3, 2005
”You are clearly an odd lotter.”
That was the subject line of the email. And I knew it was hate mail before I opened it. Allow me to explain. You see, you buy an ”odd lot” any time you purchase less than 100 shares. It’s ”odd” because back in the bad old days of Wal ... read more
Tempest in a Teapot?
JP Morgan caught by the shorthairs?
If you want a fast read check out the areas that are being round tabled...Employee comp=options and Employee stock ownership plans (ESOP's), Life Settlements and Pensions=both future liabilities not "marked to market", eg, what is the current value not the projected future value? My, my, tempest in a teapot...The Mad Hatter of Accounting has created 'viability'problems cost accounting
Previous Page, Page 1
The discussion of accounting issues surrounding the creditworthiness of issuers may open the biggest hole in FASB’s standard on accounting for derivative instruments and hedging activities.
Ed Zwirn, CFO.com
May 09, 2005
Just how all-knowing are the financial markets? Look for debate to center around this question if the Financial Accounting Standards Board reopens discussion this summer on whether derivatives should be marked to market.
Financial Accounting Standard 133 — Accounting for Derivative Instruments and Hedging Activities — which took effect in 2000, requires companies ... read more