Your daily Economy dose!
by Edward Hugh: Barcelona While investors are generally aware of the dire state of the western economies’ accounts, quite a few of them are optimistic that these large budget deficits can be closed through a combination of fiscal discipline and expenses reduction.
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Does Anyone Really Know The Size Of The Greek 2009 Deficit?
The recent announcement of what I’ll call the “Volcker Plan” for regulating banks was sandwiched between two major political events: the election of a Republican Senator from Massachusetts and the Supreme Court’s decision “deregulating” corporate campaign contributions. The timing of the announcement in relation to the election of the Republican (Scott Bowen) is suspicious: it suggests a desire to change the subject and recapture the populist mandate by attacking the hated banks in a more dramatic fashion than by the proposal for a bank tax that I discussed in my last post .
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The Volcker Plan and the Politics of Financial Regulatory Reform
Aidan just might have an ear infection. He’s had an earache off and on for about a week but I think we’ve crossed into infection territory. I am still waiting to see and may take him in tomorrow. He missed three days of school this due to a fever and cold. I’m so tired of having sick kids. They need a break. I joined the Chamber of Commerce today to help with my business. By chance tonight was my first chamber event-Business After Hours. Basically a light dinner with drinks (all for free!) and major networking. I’m exhausted. I am terrible at these types of things. Next time I am taking Daniel with me
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Because Randomness is Sexy
Mérida, January 21 st 2010 (Venezuelanalysis.com) – A tense diplomatic exchange between Chilean President-Elect Sebastian Piñera and Venezuelan President Hugo Chavez this week highlighted the political differences between the two leaders on a continent where the terms of economic integration and relations with the United States are in hot dispute. By James Suggett – Venezuelanalysis.com read more
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[news] Chilean-Venezuelan Diplomatic Exchange Highlights Political Differences on Continent
A very happy new year to you all! Today, we announced the Cisco Infrastructure as a Service (IaaS) solution for service providers . Service providers are looking for new ways to enter the market for IaaS (providing compute-on-demand, network-on-demand and storage-on-demand for their customers) Cisco is working with Service Providers to provide them with the tools, design guides and advanced services to be able to “fast-track” the implementation of IaaS offerings. The benefit for our SP customers is that they are able to develop a service with greater confidence and are then able to realize revenues faster than would have otherwise been possible
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Announcing Cisco Infrastructure as a Service (IaaS) Solution for Service Providers
An Illinois-based pension fund has brought a shareholder’s derivative action seeking to recover billions of dollars in executive compensation paid by Goldman Sachs. This could be the first of many such suits, reported James Armstrong of Law360, “Goldman Pay Suit Could Signal New Wave of Litigation,” Jan
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Institutional Investors Are Fed Up With Wall Street Pay Excesses Too
Obama has again pulled Volcker into his photo ops, and is talking tough about putting limits on the size of banks, restoring the “spirit” of Glass-Steagall, and curtailing the giant banks’ prop trading operations. I’ll believe it when I see it (in the fine print). As Yves Smith reminds us , Obama and Congress talked tough about reining in derivatives, but did nothing.
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I’ll Believe It When I See It (In the Fine Print)
It’s official. Representatives from Merlin Entertainments confirmed this morning that their company will construct their second U.S.
The long-awaited Supreme Court decision striking down most campaign finance laws – Citizens United v. Federal Election Commission – happened today.
Long-term CIPE partner the Lebanese Transparency Association (LTA) just released their 2009-2010 documentary on YouTube . The piece highlights LTA’s anti-corruption, anti-bribery, and corporate governance programs and activities in both Arabic and English
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Anti-Corruption Programs Highlighted in CIPE Partner’s YouTube Documentary
by Edward Hugh: Barcelona I couldn’t help being struck earlier this week by the following statement in an interview the Financial Times had with Hungarian Finance Minister, Peter Oszkó : “Structural reforms of the pension and social welfare systems, plus a rebalancing of the tax system, should allow the government to report a 3.9 per cent budget deficit in 2009, on a par with the preceding year and in line with IMF requirements”. “Structural reforms”, I asked myself, “exactly which structural reforms are we talking about here?” Certainly the EU Commission and the OECD have been pounding away at the Hungarian authorities on the pressing need for major changes in the health and pension systems (these areas – and the way they are rising as the population ages – are, after all, the underlying cause of the structural deficit in the Hungarian budget).
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Hungary Isn’t Another Greece……..Now Is It?
From China Daily : Spain will propose that the European Union (EU) consider lifting an arms embargo on China and grant full market economy status to the country, Madrid's top envoy to Beijing has said. Elaborating on Spain's tasks during the six months it holds the EU rotating presidency, Carlos Blasco Villa told China Daily that Madrid will also promote the signing of a comprehensive cooperative partnership between China and the EU
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Market Economy Status and Arms Trade in Exchange for Chinese Currency Revaluation?
by Edward Hugh: Barcelona Pressure on Greek finances continues unabated. According to European Voice this morning the EU Commission and Finance Ministers remain most reluctant to call in the IMF (which I think would be the best solution ) but they are themselves actively comtemplating providing some kind of IMF-type “straightjacket loan”
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The EU Is Reportedly Exploring Making a Loan To Greece
Today’s Daily Angle comes from Wikinvest Wire member Saj Karsan of BarelKarsan.com. You can read the full article on Saj’s blog . Flash Player 9 or higher is required to view the chart Click here to download Flash Player now View the full NASDAQ:AAPL chart at Wikinvest The P/E ratio is one of the most useful metrics for determining how cheaply a company may be purchased.
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Making the P/E Meaningful
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Economic weather report: 24.2% of NZ-born graduates live overseas, highest in OCED
Caracas, January 20 th , 2009 (venezuelanalysis.com) – Venezuela has stepped up its aid effort to Haiti as a second earthquake rocked the Caribbean country again today. This follows a 7.3 magnitude earthquake which destroyed the Haitian capital, port-au-Prince last week leaving at least 75,000 people confirmed dead, 250,000 injured and millions homeless. By Kiraz Janicke – Venezuelanalysis.com read more
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[news] Venezuela Steps Up Aid Effort to Haiti, Questions U.S. Military Deployment
Caracas, January 20 th , 2009 (venezuelanalysis.com) – The United Federation of Venezuelan Oil Workers (FUTPV), and Venezuela’s state-owned oil company, PDVSA have finally reached agreement for a collective contract after factional disputes over union elections delayed negotiations for almost a year. By Kiraz Janicke – Venezuelanalysis.com read more
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[news] Venezuelan Oil Workers Reach Collective Contract
FROB, for those of you who are wondering, stands for “Fund for Orderly Bank Restructuring” and is an entitly created by the Spanish government in June last year , in order to facilitate (in particular) the restructuring of Spain’s hard hit Savings Banks (Cajas). There is just one problem: as of the present time – and over seven months later – the FROB still is waiting to receive approval from the European Commission .
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Spain Gets Frobbed-Off By The EU Commission
It is the 21st century equivalent of a showdown at the OK Corral – Google has called out China for allegedly hacking into the email accounts of Chinese human-rights activists and engaging in disruptive cyber attacks against Western companies that do business in China. The myth that Western and Chinese companies are treated equally in China has now thoroughly been discredited after having been damaged by the Chinese authorities disapproval of the Coca-Cola/Huiyuan merger last year. Now news reports are coming out detailing the attacks against a law firm and companies that are suing the Chinese government like Cybersitter for infringing on it’s IP . Google’s announcement has unleashed a firestorm of debate, claims, and counter-claims from the companies involved as well as netizens around the world. Chinese officials have stated that perhaps Google is just not prepared to compete in the Chinese market, contrary to the fact that Google has gone from a 15% to 30% search share over the past five years all the while having to jump through more regulatory hoops than its domestic search rival Baidu. Perhaps most tellingly is the reaction in the real world – citizens have been leaving flowers and wreaths at the entrance to Google’s China headquarters, mourning the loss of their limited freedoms
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Google Calls China’s Bluff
Patty Sagert, the campus director for the Blaine campus of Rasmussen College, was recently named to the Eden Prairie Chamber of Commerce Board of Directors, according to an article in the Eden Prairie News . Sagert has been a campus director with Rasmussen since 2007.
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Rasmussen College campus director named to Eden Prairie Chamber of Commerce Board of Directors
David Meerman Scott addresses head-on the topic of social media and whether it’s a fad or here to stay. In this fifth video of a multiple-part series between David and Stacy Spognardi of Cisco, David asserts that social media is, in fact, not new and has been in practice for a long time.
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Social Media Marketing for Service Providers – David M. Scott: Is Social Media a Fad? Part 5
There are few things more condescending and arrogant than a journalist who arrives in a foreign country, walks around briefly in its streets, and from a few superficial observations, believes they can make a judgement on the entire economic situation of a country, as well as the social movements and hopes of millions of members of that country. In yesterday’s article “Venezuela’s economy in further slide”, BBC journalist Robert Plummer admits it’s been a long time since he set foot in Venezuela. By Tamara Pearson – Venezuealanalysis.com read more
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[analysis] A Quick Response to BBC’s Article, “Venezuela’s economy in further slide”
Last September , the blog noted ’4 tips for survival in the New Normal’. Now, 3 years of research by a team of UK and Dutch academics has identified companies that have achieved almost uninterrupted success over a 20 year period, and asked senior executives about their experience.
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4 tips for longer-term corporate survival
Time was, you’d have to wait months following a major global tragedy before the douchebag commentary started to flow (Haha not really–how many Challenger Astronauts will fit in a Volkswagen, anyway?) It’s been just one short week after the most devastating natural disaster our Hemisphere has ever seen, and everybody is just awful. But who is the worst? Here’s a rundown of the contenders: Jesus Freaks
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Poll! Who’s Exploited the Haitian Earthquake In the Most Ridiculous Way "SO FAR"?
People in Latin America have frequently found themselves fighting regular forces and mercenary contractors coordinated ultimately by the United States Southern Command, the State Department and related US government bodies. That was true in Central America in the 1980s. It has been the case in Colombia for many years.
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[analysis] Nicaragua, ALBA, and Intellectual Betrayal