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Viacom 19 y
Redstone takes on a lot to say he built Viacom- eez, how can an ego remain that BIG at 82 years of age-? Art of winning-??
Viacom Comes to the Great Divide, and Calls It a Path to Growth
By GERALDINE FABRIKANT
Published: December 26, 2005
On Jan. 3, Sumner M. Redstone will get his wish when Viacom, the sprawling media company he built, is split into two separate entities.
John P. Filo/CBS
Leslie Moonves, left, is to head CBS, while Thomas Freston runs Viacom.
Greg Gayne/Warner Brothers
Popular shows on CBS like ”Two and a Half Men” have revived the network’s fortunes under Leslie Moonves, and helped bolster Viacom’s stock price.
Now what?
Even before the actual separation, the two companie ... read more WSJ Trust Funds 19 y
Rather than the standard Mom and Pop revocable family trusts, there are some powerful family foundations and charitable remainder trusts..that fund family charitable projects, and leave property to 501 (c) 3's-or private charities-they are still a writeoff (but for how long?) and they help clarify families values and legacys
Demystifying Trust Funds
By RACHEL EMMA SILVERMAN
Staff Reporter of THE WALL STREET JOURNAL
December 24, 2005; Page B1
Once a financial-planning tool mainly of the super-rich, personal trusts quickly are gaining ground with another set: the merely affluent.
While the word trust might evoke images of mind-bending financial complexity and Rockefeller-size bank accounts, in its simplest form a trust generally is nothing more than an agreement to hand over your assets to someone else -- a ”trustee” -- who then minds them for your beneficiaries. Trusts can have a variety of tax and o ... read more Variable Annuities 19 y
Variable Annuities lifetime benefits were @ 6% for some products- Now the reserves for these guarantees and the look back period are being modified due to lower interest rates..And they threw in the equity indexed products which are powered by options on a choice of indices...
NAIC revises annuity regulations
During the National Association of Insurance Commissioners’ winter meeting, they adopted the annuity nonforfeiture model regulation, a resolution on limited line term life insurance, and the extension of the sunset provision of Actuarial Guideline 39, which establishes reserves for variable annuities with guaranteed living benefits.
The non-forfeiture model was designed to implement changes to the Standard Nonforfeiture Law for Individual Deferred Annuities. These changes were adopted in 2003. The new model revises the 3 percent non-forfeiture rate to ... read more 70M Enron traders 19 y
so a 20 M bonus had to be given back- hmmm, I saw the movie Enron and as I recall there were Billions (with pinkie at corner of mouth) awarded in bonuses..this is a drop in the proverbal "bonus bucket"- these were the young, young men that laughed when Granny wouldn't have heat or lights- shameful young turks without value judgement or compassion...Fines should be higher, and returning of blood bonuses more
Enron Traders Must Return $20 Million
The money will now go to the roughly 4,500 employees who were fired at the same time.
Stephen Taub, CFO.com
December 13, 2005
About 40 former Enron Corp. traders have been ordered by a bankruptcy judge to relinquish $20 million in bonuses they received just prior to the energy company’s bankruptcy filing, according to the Houston Chronicle.
U.S. Bankruptcy Judge Robert McGuire ruled the bonuses were fraudulent and improperly preferential, according to the Chronicle. The money will now go to the roughly 4,500 employees who were fired at the ... read more Conflict of Interest 19 y
exist, but some will get checks based lawsuits that proved absolutely obvious misrepresented company data WHEN the same companies had underwriting agreements with the same firm who published the misrepresentative reports. This is kinda like finding a bop hale comet..well not that rare. It was my experience that Morgan Stanley Dean Witter our economists rarely gave a sell sign on any company we, as a firm, followed. Hold basically met sell in most cases- cuz' they probably had relationships with this firms like blocks a stock in the vault? Who knows, but any broker whose been around a while knows that their company economists (used to) be pressured to give good news on large company held positions and I guess those in underwriting for IPO's too...Ah what a tangled web we weave......Wonder if McGovern is related to George McGovern ex presidential candidate?
The Check Is (Almost) in the Mail
Investors will finally see their share of the 2003 ’’global settlement.’’
Stephen Taub, CFO.com
December 22, 2005
A large number of people who were victims of Wall Street research abuses may wind up with a pleasant holiday surprise — a check from the Securities and Exchange Commission, courtesy of one Francis E. McGovern.
A law professor at Duke University, McGovern is also the administrator for the $440 million restitution fund that represents the SEC’s share of the $1.4 billion ”global settlement.” The 2003 settlement — between Wall Street f ... read more UR gonna live to 120! 19 y
One way to make our Social Security last longer is to issue smaller monthly amounts over longer period of time (longer than you will actually live!) 20+ more years on the new life expectancy/mortality tables of the IRS- you will have less but longer-there really is a very GOOD chance you will not live until 120-so your account will have residual amounts left. Be sure you understand if these residuals go to your heirs or remain in the account to be "consumed" back into the pool- as the case with Social Security- Ahh yes, even when they say no one is fooling with the benefits they are indeed- just by changing the mortality tables-Poof- government does it too!
PBGC Releases Pension Benefit Guarantee for 2006 and Retirement Age Table
Legislators want to take burden of off taxpayers—Retirement Plan Advisor, December 2005, Part 2
By Savita Iyer
The Pension Benefit Guaranty Corporation (PBGC) released its final ruling for the 2006 pension benefit guarantee on Nov. 30, announcing that the maximum guaranteed monthly benefit for workers retiring at age 65 in 2006 in an underfunded single-employer pension plan, will be $3,971.59 per month. A reduced maximum guarantee applies to early retirees or retirees electing survivors’ benefits, the agency s ... read more Motley Fool & China 19 y
What about Coca Cola- they must be in China- It seems the poorest countries (like Mexico) are inundated with Coca Cola- targeted for tooth decay? Perhpas Coke's growth in China is already taken into consideration by the P&L and the market??
Limitless Possibilities
By Roger Friedman (TMF Roger)
December 20, 2005
I’ve taken a bit of grief at Fool HQ for my lack of a specific investing focus. Around these parts, the value guys and growth guys are mortal enemies, rivals of the highest order, always mere moments away from a dance-off.
For some of the more strident members of each faction, my free-form investing style is as fathomable as being a fan of both the Yankees and the Red Sox, having both Jethro Tull and Gloria Estefan in the CD player, or drinking Miller Lite because it tastes great and it’s less filling.
I say ... read more St Luke/A-Letter 19 y
Taxes and..what was the other one- o yeah, death- well since death isn't really necessary-hey maybe taxes aren't either!
Friday, December 23, 2004 - Vol. 7 No. 257
In This Christmas Weekend Edition:
Comment: Taxpayers Forced to Seek Haven.
Taxpayers Forced to Seek Haven
Guest Comment is by SAINT LUKE, the Apostle, who was not a member of the Sovereign Society Council of Experts. A very Merry Christmas and Happy Hanukkah to you from The A-Letter and the staff of the Sovereign Society Ltd.
Dear A-Letter Reader:
And it came to pass in those days, that there went out a decree from Caesar Augustus that all the world should be taxed. And this taxing was first made when Cyrenius was governor of Sy ... read more A Wash Sale... 19 y
So this is a good strategy for tax purposes and there is usually a buy back at lower prices in the new year- if it is a wash sale...we will see...The New Year brings much enlightenment in all money and politics arenas...
Kerkorian Dumps 12 Million GM Shares
His investment company sold the shares to ”offset certain capital gains realized by Tracinda in an unrelated transaction.”
Stephen Taub, CFO.com
December 22, 2005
Kirk Kerkorian apparently is losing his patience with General Motors Corp.
Certainly, the Las Vegas financier and activist investor is unhappy that GM’s stock dropped Tuesday to a 23-year low. So it’s little surprise, perhaps, that Kekorian announced that his investment company Tracinda Corp. had dumped 12 million shares in the world’s largest automaker, reducing his stake to 7.8 ... read more Currencies for 2006 19 y
C&C- commodities and currencies
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Thursday, December 22, 2005 - Vol. 7 No. 256
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Currencies in 2006
Thomas Fischer, Manager of International Client Relations at Jyske Bank Private Banking, Copenhagen, is a member of the Sovereign Society Council of Experts.
Dear A-Letter Reader:
We are only days away from the new year, but before making any predictions for 2006, let’s look back at currencies in 2005.
United States: In 2005 the US was sti ... read more Abercrombie & Ho Hum 19 y
Ho Hum another One- but I gleaned while reading this and from reading another post about the expiration of the Patriot Act, that this overcropping or overporing of correcting the wrongs, may actually lulling us into a feeling of security and an "all is well that ends well" mentality- Our industrial war complex usually moving behind the scenes while keeping us busy with larger concerns of economic survival, and all the while showing us that the obvious grift will be punished...It is a perfect ploy to keep us distracted while perhaps other more orchestrated deeds run behind- and maybe, not so behind the scenes. Maybe we were just looking in the wrong direction and everything is right out in the open- If we care to see...
SEC Probes Abercrombie Trading
The retailer also disclosed that several lawsuits have been filed against present and former board members ’’alleging various breaches of the directors’ fiduciary duty and seeking equitable and monetary relief.’’
Stephen Taub, CFO.com
December 09, 2005
High-flying teen retailer Abercrombie & Fitch Co. disclosed that the Securities and Exchange Commission has launched an informal, non-public inquiry into trading in its stock.
According to a regulatory filing, the SEC informed Abercrombie that the inquiry should not be construed as an indication th ... read more Schwab leaves NYSE 19 y
Wow, Chuck really knows how to tangle, he has successfully sold his company..then criticized the purchasers running of Schwab and may have damaged their goodwill value, bought the company back at pennies on the dollar, then decided to home base the stock at NASDAQ...Cool he's a real operator. I met his main programmer/architecture developer for real time trading Mark ..who owns several houses and worked with Chuck directly...He had a home near Cold water swimming out on the tip of Point Loma- wowo! 35 Million if a penny- so some have prospered at Schwab(and who knows he may have made other lucrative investments) including Chuck!
Schwab Leaving NYSE for Nasdaq
The company will save about $400,000 per year after the switch, said Schwab CFO.
Stephen Taub, CFO.com
December 19, 2005
The Charles Schwab Corp. is leaving the New York Stock Exchange and will be listed solely on the Nasdaq National Market, effective December 20.
The San Francisco–based brokerage firm had been listed on the Big Board since September 1987, and dual-listed on Nasdaq since January 2004. ”After a dual-listing trial of nearly two years, we are convinced of Nasdaq’s commitment to a highly competitive, well-regulated marketplace that i ... read more China 4th largest economy 19 y
China 4th largest economy- yep, and it's only a matter of time before we are overshadowed by our Most favored nation trade partner
Experts See China as World’s 4th Largest Economy - and Climbing
By DAVID BARBOZA and DANIEL ALTMAN
Published: December 20, 2005
SHANGHAI, Dec. 20 -- Many economists have long suspected that official government statistics were a slighter shadow of reality.
With China’s announcement on Monday that its economy was far bigger than previously estimated, economists and financial prognosticators are scrambling to rethink their assessment of China’s rise and its role on the world stage.
China’s new figures suggest that it has likely passed France, Italy and Britain to become the world’s ... read more qwest 19 y
QWEST CEO indicted for insider trading..ho hum...just another one, huh
Ex-Chief of Qwest Is Indicted
By KEN BELSON
Published: December 21, 2005
Federal prosecutors announced yesterday that Joseph P. Nacchio, the former chief executive of Qwest Communications International, had been indicted on charges of insider trading involving stock sales worth more than $100 million.
The indictment lists 42 counts against Mr. Nacchio involving sales of more than 2.5 million shares of Qwest stock in the first half of 2001. During that time, Mr. Nacchio knew that his company was in danger of missing its financial targets, according to the indictment announced by fed ... read more Retirement Countdown 19 y
Here's the simplified version, the p&q's of actually executing may take the support and help of a professional..
Countdown to retirement: Making list, checking twice
Russ Wiles
The Arizona Republic
Dec. 18, 2005 12:00 AM
For millions of baby boomers in their 50s, there’s little time to waste in preparing financially for retirement.
Most pre-retirees would be wise to draw up budgets, examine health-insurance options, ponder Social Security moves, adjust their investing and - if necessary - save more money.
The finances of retirement will vary from older baby boomer to younger, from richer to poorer, from more educated to less, from Anglo to minority. advertisement
Many of the mo ... read more WebMD Charges 19 y
It's a free for all- everyone exaggerated, misrepresented, concealed losses, yada, yada...and now- what once was considered business as usual or atleast creative finance- is all under the gun...they are paying in ways they never suspected possible- unfortunately the scape goats shoulda known better but never thought they, alone, would be held accountable...surprise...take thy reporting seriously- the investors do!
Former WebMD CFO, Others Indicted
Practices included so-called round-trip transactions allegedly used to create fraudulent revenues.
Stephen Taub, CFO.com
December 19, 2005
The U.S. Attorney for the District of South Carolina has indicted 10 former officers and employees of Medical Practices Health Systems Inc. for allegedly participating in a conspiracy to fraudulently inflate the reported earnings of the company by more than $16.8 million between 1997 and 2001.
Medical Practices Health Systems and its parent company WebMD have since changed their name to Emdeon Practice Serv ... read more Time Warner/Google 19 y
Again...He was the creator of greenmail back in the 80's- I really haven't kept up with him in the 2000's, but he's after the Googel tribunal (Time Warner)and that's Big Business- Google just became part of the Nasdaq 100- big stuff-heady money
Icahn Attacks AOL-Google Deal
Carl Icahn begs Time Warner shareholders to stop Google from taking a stake in AOL.
December 19, 2005
With Time Warner’s board expected to vote Tuesday to sell 5 percent of AOL to Google, shareholder activist Carl Icahn on Monday decried the $1-billion deal as a “disastrous decision.”
Mr. Icahn, a Time Warner shareholder who has been pushing the company to make changes at the AOL unit and its cable properties, said in a letter to shareholders that a deal with Google could prevent more lucrative deals with other players (see Icahn Warns Time Warne ... read more |