Daily Digest

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Daily Digest 11/2 - Seeing The Forest Through The Debt, Looming Human-Caused Mass Extinction

Friday, November 2, 2012, 10:58 AM

Economy

Unallocated Gold Storage Or Accounts: Avoid This Risk When Buying Gold (Taki T.)

On the other hand, smart money seems to be making wiser choices regarding bullion ownership. Consider hedge fund manager Kyle Bass or Greenlight Capital’s David Einhorn, who reportedly favour ownership of physical gold bullion bars in allocated storage in a secure vault.

Prosperity Index Shows Capitalism Kills (David B.)

Changes in a single year (either up or down) by more than one spot are unusual, and no nation in the top-20 rankings has risen or fallen by more than three spots in a single year. For example, the combination tsunami and Fukushima-holocaust only caused Japan’s annual ranking to fall by three positions, from 18th to 21st.

Special Report: Starbucks's European tax bill disappears down $100 million hole (westcoastjan)

But muscular tax planning also brings risks. A YouGov survey conducted days after Reuters reported earlier this month that Starbucks had paid just 8.6 million pounds ($13.9 million) in British corporation tax on 3.1 billion pounds of sales over the past 13 years, showed that Britons now take a much more negative view of the firm.

Have India’s poor become human guinea pigs? (westcoastjan)

What Mrs Sodey says she did not know was that her mother-in-law was being enrolled in a drugs trial for the drug Tonapofylline, which was being tested by Biogen Idec. Neither could read and Mrs Sodey says she does not remember signing a consent form.

Sharp issues survival warning as it forecasts huge loss (westcoastjan)

"Perhaps it will not fail within this year, but I don't think Sharp has a viable business in the next three to five years," said Tetsuro Ii, chief executive of Commons Asset Management in Tokyo.

"The company hasn't got much time left and they need to cut off businesses that they can, conserve cash and... produce something that's really competitive."

Sants Wishes Bankers Had Been More Honest (westcoastjan)

The new chief executive of Barclays, Antony Jenkins, recently announced that branch staff would no longer have their bonuses dependent on the volume of financial products they sell. But many bankers continue to be rewarded for sales rather than the quality of the relationship with customers.

Mr Sants also advocated a new code of practice for the industry.

Seeing The Forest Through The Debt (James S.)

The remaining $300 million the company will pay in principal in 2014 should be covered through the divestiture of its 114,500 net acres in the Delaware and Midland Basins of West Texas/SE New Mexico. As shown by the table below, the average acreage value for assets in this area is $4,316 which values FST’s acreage at $494 million. Even if FST receives a valuation near the lower bound of the sample size, it will still cover its expected principal payments in 2014. It’s my view that this company should be soluble through the end of fiscal year 2018, but surviving beyond that will require the type of fiscal austerity that would impress even the Greeks.

Rosenberg Predicts Surprise Q4 Negative GDP due to Sandy (kelvinator)

Tired of idiotic "expert assessments" how the destruction in the aftermath of Sandy is good for the economy and "creates wealth" (just ask these people or thesehow much wealthier they feel with their house halfway still underwater, or with not a bite to eat)? Then read the following brief summary by David Rosenberg what the real and full impact of Rosie on the US will be: "the surprise for Q4? A negative GDP print.

Oilsands development at risk as costs soar, memo warns

The memo written by Mark Corey, one of the highest-ranking officials in the federal Department of Natural Resources, warns that if the current trend of spiralling labour and other costs continues, investors may start to turn off the tap on the massive amounts of money needed to develop the oilsands.

A Looming Mass Extinction Caused By Humans

Extinction is actually a natural and common phenomenon – of the roughly 4 billion species estimated to have evolved on Earth, some 99% are gone. In the past, the extinction rate has been balanced by the evolution of new species, but the current, human-caused extinction is happening so fast that evolution cannot keep pace. Barnosky estimates that the current rate is 1,000 times the natural rate, putting it easily on a par with the so-called “big 5” mass extinction events.

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4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4236
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Vengeance is Mine.

Observe the results of millions of Muslims praying to God for restitution.

If you are an Atheist the statement will be hollow and meaningless.

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
More 3E related Links, Resources and Cartoons

http://3es.weebly.com/

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
An Olympics Worthy of the Praise.

I did enjoy the Prosperity index. Now there is an olympics that I could become enthusiastic about and that a Nation could get bonafide bragging rights.

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