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The Deep, Inner Meaning Of Bank of America's (BAC) TARP Repayment

Fri, 04 Dec 2009 14:19:07 GMT

As expected, Bank of America (BAC) will repurchase its $45 billion TARP preferreds, funded in part by an additional $18.8 billion in "common stock equivalents", $4.0 billion in asset sales, and $1.7 billion in restricted stock issued to employees in lieu of cash bonuses.[More...]

Forget Yesterday, It's All About Jobs

Fri, 04 Dec 2009 13:21:30 GMT

Good morning. Stocks tanked in the last half-hour on Thursday and while the major news outlets attributed the decline to either profit taking or some trepidation in front of this morning's big Jobs report, we'd like to offer a little more substantial reason for the 85 point dive on an otherwise subdued day of trading.[More...]

Fed Balance Sheet Declines By $15 Billion After Improbable Reduction In MBS, Excess Reserves, Monetary Base Hit Record

Fri, 04 Dec 2009 04:14:41 GMT

The Federal Reserve's balance sheet declined by $15 billion to $2,183 billion from the prior week, after the Fed presumably offloaded $2.7 billion in MBS: this is the first time since QE started that MBS holdings have declined. If anyone can tell us just who the idiots are who bought MBS from the Fed (and at what price), and who the even greater idiots are who are supposed to believe this, please send us an email.[More...]

China Will Continue To Drive The Global Economic Recovery In 2010

Thu, 03 Dec 2009 14:38:07 GMT

China isn’t just leading the global economic recovery – it’s lapping the field.[More...]

Interesting Stat: How Much Private Sector GDP Is From Construction And Real Estate?

Thu, 03 Dec 2009 13:15:56 GMT

Back in June, we discussed commercial real estate at length following attendance at a large real estate conference in NYC. Our tone was cautious and one question we wondered about was the percentage of GDP that real estate represents. We actually came across the answer back in August and meant to share then, but didn't get to it. Since the question/topic remains highly relevant to considering the potential negative economic drag from depressed real estate activity, we're sharing now -- the following table is from an 8/28/09 NYTs article, "Construction That Fueled Growth in the Sun Belt Slows":[More...]

Credit Market Overview: Dec 3, 2009

Thu, 03 Dec 2009 12:59:02 GMT

The credit crunch crisis of confidence which we appear to be crawling out of even though the debt and equity markets catapulted themselves higher earlier this year could be similarly argued to be a crisis that started in the credit markets which crunched confidence around the world as it could a collapse in confidence in the value of the securities investors held which corrupted the credit markets causing them to cease funding.[More...]

Grab Some Northern Exposure With EWC

Wed, 02 Dec 2009 21:39:42 GMT

Emerging markets are captivating investors again, but tidy profits aren’t always far away. Placing your bets on well-established global markets can also prove rewarding. That's why we're looking at Canada.[More...]

Unemployment Struggling To Turn A Corner As Job Losses Mount In November

Wed, 02 Dec 2009 21:20:20 GMT

U.S. job losses in the private sector slowed in November but still exceeded economists’ projections, a report by payroll-processing firm Automatic Data Processing (Nasdaq: ADP) indicated yesterday (Wednesday).[More...]

Why Barrick Closed Their Gold Hedge

Wed, 02 Dec 2009 19:15:14 GMT

It sure looks like gold is going to close above $1,200 an ounce today in New York. And large open market purchases from central banks in China, India and Russia are only helping the price surge more. (Just one year ago, some of these same central banks were actually selling gold in an attempt to fill an annual 10,000-ton supply gap.)[More...]

How To Profit From The 'Next' Dubai

Wed, 02 Dec 2009 13:51:42 GMT

The Dubai World default is a matter of only $60 billion – mere peanuts when compared to other elements of the global financial crisis. It’s thus of concern only to those silly enough to invest in real estate there (and the European banks foolish enough to finance it.) For the rest of us, it is a useful reminder that sudden collapses don’t really come out of nowhere – they can be foreseen, and smart investors can plan for them.[More...]

CHA moves forward with Fairmount development

Sat, 21 Nov 2009 17:46:00 GMT

Nov. 21--The Chattanooga Housing Authority is headed for a fall, Mayor Ron Littlefield says, and it's all due to the organization's stubbornness.
"The housing authority continues to run full tilt in the direction that might be headed toward the end of a cliff," Mr. Littlefield said.
Mr. Littlefield made the statements in response to the CHA's decision Friday to proceed with plans to renovate public housing at Fairmount Avenue Apartments in North Chattanooga, despite opposition from the mayor and homeowners who live near the street.

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Mayor Calls CHA 'Embarrassment'

Tue, 03 Nov 2009 16:50:00 GMT

Nov. 3--Mayor Ron Littlefield has called the Chattanooga Housing Authority "an embarrassment" to the city and said its conduct "continues to defy common sense."
The mayor expressed those feelings in an Oct. 15 letter to the U.S. Department of Housing and Urban Development.
"The unprofessional conduct of the housing authority continues to defy common sense and has become an embarrassment to our city," he wrote in the letter addressing the expansion at Fairmount Avenue Apartments.

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Starent Networks is in Growth Mode

Tue, 29 Sep 2009 19:09:00 GMT

Sep. 29--TEWKSBURY -- Starent Networks Inc., a fast-growing maker of gear used by wireless carriers to offer enhanced voice and data services, has agreed to more than double its space at Ames Pond Corporate Center.
"We've been busting at the seams," said Mike Messier, Starent's vice president of global human resources.
Messier said the company now has 288 people and occupies about 90,000 square feet between Ames Pond and its corporate headquarters down the road at 30 International Place.

[More...]

CHA Discusses Mayfair on Market

Mon, 28 Sep 2009 13:48:00 GMT

Sep. 28--DOC: 9-28-09 Public Hearing Agy Plan rev.
Nearly a year after the Chattanooga Housing Authority was cited in a lawsuit for defaulting on the Mayfair on Market project, CHA officials say they expect to reach an agreement today with the development partners.
According to the agenda for a CHA meeting today, the board will consider approval of a settlement with the 700 Block Development Project, the group that was going build the Mayfair on Market project.

[More...]

Crowd Enjoys Watermelon Festival Despite Oppressive Heat

Mon, 10 Aug 2009 07:48:00 GMT

Aug. 10--Charlie, a 7-month-old boxer, may have had the best seat along West Cary Street yesterday.
The young yet stocky pooch immersed herself in a small, round swimming pool filled with water during the 26th Carytown Watermelon Festival.
Temperatures reached a high of 97 degrees, with the heat index even higher.

[More...]

China to spend reserves to grow overseas

Tue, 21 Jul 2009 23:45:00 GMT

China to spend reserves to grow overseas[More...]

Public Housing Utility Costs Rise

Sat, 04 Jul 2009 13:48:00 GMT

Jul. 4--Chattanooga Housing Authority officials plan to decrease public housing residents' utility allowance and charge a $20 fee to residents who have air conditioning.
Mr. Holmes said it's the first change in utility rates from the housing authority in about five or six years.
The U.S. Department of Housing and Urban Development allows each unit an amount of utility usage at no cost to the resident, but if the resident goes over that cost, then the resident has to pay the difference, said Bill Lord, CHA's chief information officer.

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Evening Standard, London, Market Report Column

Thu, 25 Jun 2009 18:49:00 GMT

Jun. 25--The City expects big things from the new man charged with steering state-owned Royal Bank of Scotland along the road to recovery.
Hester has a big following in the Square Mile and his appointment has not been lost on the likes of the Queen's own broker Cazenove, which has raised its rating on the shares from underperform to outperform.
"Further out and on a balance sheet one third smaller, the potential earnings for RBS are 6.5p, which suggests a 60p share price is achievable in time."

[More...]

Daily Mail, London, Market Report Column - May 15 2009 2:52PM

Fri, 15 May 2009 18:47:00 GMT

May 15--The pin-striped brigade of Fenchurch Street should watch out.
Russian billionaire Alexander Knaster, who runs pan-European private equity house Pamplona Capital Management, certainly sparked a flurry of buying of Chaucer after revealing he is looking to acquire a possible 29.9pc stake in the specialist insurer, which runs two Lloyd's of London syndicates.
Dealers said it could have been warehousing stock after participating in a £75m placing at 40p a share earlier this year.

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BRIEF: CHA Expected to Get $6.3 Million Stimulus Money

Tue, 31 Mar 2009 22:55:00 GMT

Mar. 31--The Chattanooga Housing Authority will receive $6.35 million in federal stimulus money, but it can't be used to pay back the authority's $4.5 million debt, CHA officials said.
The money, given under the American Recovery & Reinvestment Act of 2009, is expected to be available to the housing authority next month, officials said.
On Tuesday, CHA board members also approved a contract that may lead to the sale of Gurley Street Apartments.

[More...]

Halter USX China Index Up 10.59% for Third Quarter 2009

Wed, 30 Sep 2009 21:46:00 GMT

For the third quarter of 2009, the Halter USX China Index (NYSE Arca: HXC) was up 10.59%.
During the same period, the Dow Jones Industrial Average increased 14.98% and the NASDAQ increased 15.66%.
HXC is also pleased to announce the inclusion of 20 new constituents to its existing index of China-focused, U.S. listed companies including: China Auto Logistics, Inc. (NASDAQ: CALI) an importer, seller, and trader of automobiles; China Integrated Energy, Inc (NASDAQ: CBEH) which engages in the development, exploration, production, and distribution of bio-diesel; China GrenTech Corporation Limited (NASDAQ: GRRF) that is a manufacturer and seller of wireless coverage products and services; China Marine Food Group Limited (AMEX: CMFO) that engages in the processing, distribution, and sale of processed seafood products; China Mass Media Corp. (NYSE: CMM) which operates as an independent television advertising company; China Natural Gas, Inc. (NASDAQ: CHNG) a distributor and seller of natural gas and gasoline to commercial, industrial, and residential customers; China North East Petroleum Holdings Limited (AMEX: NEP) which engages in the exploration and production of crude oil; China Ritar Power Corp. (NASDAQ: CRTP) a designer, developer, manufacturer, and seller of lead-acid batteries; Deer Consumer Products, Inc. (NASDAQ: DEER) which designs, manufactures, and sells home and kitchen electronic appliances; Harbin Electric, Inc. (NASDAQ: HRBN) that engages in the design, development, manufacture, supply, and service of various electric motors; Mindray Medical International Limited (NYSE: MR) which develops, manufactures, and markets medical devices worldwide; NIVS IntelliMedia Technology Group, Inc. (AMEX: NIV) a designer, manufacturer, marketer, and seller of audio and video consumer products; RINO International Corporation (NASDAQ: RINO) that is engaged in the business of environmental protection and remediation; SinoHub Inc. (AMEX: SIHI) which engages in electronic component sales and electronic component supply chain management (SCM) services; Tongxin International Limited (NASDAQ: TXIC) that designs, develops, manufactures, sells, and services engineered vehicle body structures (EVBS) for light, medium, and heavy duty trucks, and light vehicles; Universal Travel Group (AMEX: UTA) a domestic and international airline ticketing service provider, and cargo transportation agency; Changyou.com Limited (NASDAQ: CYOU) which develops and operates online games; Skystar Bio Pharmaceutical Company (NASDAQ: SKBI) that engages in the development, manufacture, and distribution of medicines, vaccines, and other health care and medical care products for poultry, livestock, and domestic pets; Telestone Technologies Corporation (NASDAQ: TSTC) which provides wireless communications coverage solutions; Tianyin Pharmaceutical Company, Inc. (AMEX: TPI) a developer, manufacturer, marketer, and seller of traditional Chinese medicines and other pharmaceuticals; Wuhan General Group, Inc. (NASDAQ: WUHN) which engages in the design, development, manufacture, and sale of industrial blowers for steam-driven electrical power generation plants; and China Agritech, Inc. (NASDAQ: CAGC) which manufactures and sells organic liquid compound fertilizers and related agricultural products.

[More...]

The Emerging Markets Telecommunications Fund, Inc. Announces Performance Data and Portfolio Composition

Wed, 02 Sep 2009 19:47:00 GMT

PHILADELPHIA, Sept. 2 /PRNewswire-FirstCall/ -- The Emerging Markets Telecommunications Fund, Inc. (the "Fund") (NYSE AMEX: ETF), a closed-end equity fund, announced today its performance data and portfolio composition as of July 31, 2009.
(All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):
Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable.

[More...]

China Telecom Launches First China-India Terrestrial Cable Transmission System

Wed, 26 Aug 2009 11:55:00 GMT

China Telecom Americas, the largest international subsidiary of China Telecom Corporation Limited , announced that its parent company has launched the first terrestrial broadband cable transmission system between China and India.[More...]

Halter USX China Index Up 40.88% for Second Quarter 2009

Tue, 30 Jun 2009 22:10:00 GMT

For the second quarter of 2009, the Halter USX China Index (NYSE Arca: HXC) was up 40.88%.
During the same period, the Dow Jones Industrial Average increased 11.01% and the NASDAQ increased 20.05%.
HXC is also pleased to announce the inclusion of 19 new constituents to its existing index of China-focused, U.S. listed companies including: Qiao Xing Universal Telephone (NASDAQ: XING) which designs, manufactures, and sells telecommunication terminals and equipment; Xinhua Sports & Entertainment Limited (NASDAQ: XSEL) which engages in the production of television programs, the placement of advertising, the provision of advertising services, market research, and the publication of magazines with a focus on sports and entertainment; China INSOnline Corp.(NASDAQ: CHIO) which operates as an Internet service and media company; China Housing and Land Development, Inc. (NASDAQ: CHLN) which engages in the acquisition, development, management, and sale of commercial and residential real estate properties; China Infrastructure Investment (NASDAQ: CIIC) which engages in the investment, construction, operation, and management of the Pinglin Expressway toll road; China TransInfo Technology Corp (NASDAQ: CTFO) which provides public transportation information systems technology and solutions; Origin Agritech Limited (NASDAQ: SEED) which engages in the research, development, production, sale, and distribution of hybrid crop seeds; Hurray!

[More...]

China Unicom Announces Filing of Form 20-F with SEC

Tue, 23 Jun 2009 15:21:00 GMT

China Unicom Limited today announced that the Company has filed with the United States Securities and Exchange Commission its Annual Report on Form 20-F for the year ended December 31, 2008 . The 2008 20-F is available at the SEC's website at http://www.sec.gov and the Company's website at http://www.chinaunicom.com.hk/en/investor/ir_report.html .[More...]

Canadian National Stock Exchange - Stock Split - Chava Resources Ltd. (CHA)

Wed, 17 Jun 2009 14:53:00 GMT

CNSX Bulletin 2009-0605 TORONTO, June 17 /CNW/ - Chava Resources Ltd. has announced that it plans to subdivide its outstanding share capital on the basis of two new shares for each existing share held. The stock split is being conducted via the "push-out" method. The shares in Chava Resources will begin trading on a split basis at the open on Thursday, June 18, 2009. Upon completion of the split, there will be 18,880,000 shares issued and outstanding.[More...]

Baidu Provides Wireless Search for China Telecom 3G Subscribers

Mon, 18 May 2009 13:11:00 GMT

Baidu, Inc. , the leading Chinese language Internet search provider, today announced it has entered a strategic partnership arrangement with China Telecom Corporation Limited to provide wireless search for China Telecom's 3G mobile phone subscribers.[More...]

China Telecom Promotes "Better City, Better Life" Through Sponsorship of the World Expo 2010 in Shanghai, China

Sun, 17 May 2009 22:55:00 GMT

China Telecom Americas, the largest international subsidiary of China Telecom Corporation Limited , announces on World Telecoms Day, its parent company's involvement in the World Expo 2010 Shanghai, China, scheduled for May 1 - October 10, 2010. China Telecom is an official sponsor of the Shanghai Expo. In addition, Shanghai Branch, a subsidiary of China Telecom has signed agreements with the Shanghai municipal government to invest 26 billion Yuan within two years to boost the city's economy and construct IT infrastructure for the World Expo 2010.[More...]