Solskjaer: Man Utd players don’t need to be best friendsby Paul Vegas10 months agoSend to a friendShare the loveManchester United manager Ole Gunnar Solskjaer insists his players do not need to be best friends.He is putting his squad through their paces in Dubai during United’s mid-season warm weather training camp.Solskjaer revealed there have been some friendly arguments after practice games but said he wants to see even more niggle.“You don’t have to be best friends,” said Solskjaer. “The team spirit is great. We had one or two fights, but that’s just the demand, the standards you set.“If the session ends with a little bit of a quarrel I don’t mind that, because it means they’re winners, they want to improve.“If you settle for losing in training, you’ll lose when a game when it really matters.“It’s a long, hard season. You’ve got to deal with the wins, defeats, setbacks and players not playing.“They all want to play, but they all want the best for their mates and everyone understands it’s a team game.” About the authorPaul VegasShare the loveHave your say
SAN FRANCISCO – Tesla CEO Elon Musk is gearing up to lead a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market.In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used as a platform for pranks, vitriol and now for a proposal to pull off one of the biggest buyouts in U.S. history.Musk got the ball rolling Tuesday after the stock market had already been open more than three hours with a tweet announcing he had secured funding to buy all of Tesla’s stock at $420 per share with no further details.At that price, the buyout would cost nearly $72 billion, based on Tesla’s outstanding stock as of July 27, but it’s unlikely the deal would cost that much because Musk owns a roughly 20 per cent stake in the Palo Alto, California, company. He also said he intends to give Tesla’s existing shareholders the option of retaining a stake in the company through a special fund, if they want.“Am considering taking Tesla private at $420. Funding secured,” Musk wrote in his first tweet, following up with “good morning” and a smiley emoji. He later tweeted that the only uncertainty about completing the deal is whether he can gain shareholder approval.The first tweet came hours after the Financial Times reported that Saudi Arabia’s sovereign wealth fund had built a significant stake in Tesla Inc., but it was unclear if that was the funding Musk was referring to. The Financial Times, citing unnamed people with direct knowledge of the matter said Saudi Arabia’s Public Investment Fund had built a stake of between 3 and 5 per cent of Telsa’s shares.Musk’s announcement was initially met with widespread skepticism, with many people connecting the proposed price to 420 being a common slang term for marijuana.Musk also previously used his Twitter account to joke that Tesla was going bankrupt in an April Fool’s Day tweet and his stability was called into question last month after he called a British diver who helped rescue children from a Thailand cave a pedophile. That baseless tweet was quickly deleted and Musk apologized to the diver.The confusion caused by Musk’s Tuesday announcement via Twitter also prompted regulators of the Nasdaq stock market to temporarily suspend trading in Tesla’s stock. Although it’s unusual for a CEO to make such a major announcement over social media, it does not appear to be improper.“It’s very unusual for any CEO other than Elon Musk. This is not how you do it and it makes you wonder how seriously to take it,” said Erik Gordon, a business and law professor at the University of Michigan.Musk probably wasn’t violating any regulations by simply announcing that he was considering taking the company private, Gordon said, but his assertion that the funding already has been locked up could “expose him to at least potential legal risk” if it turns out that the financing is on shaky footing.Musk later brought some clarity to the situation in an email to Tesla employees that was also posted on Tesla’s blog. Trading in Tesla’s stock resumed shortly after the letter’s release, and the stock climbed 11 per cent to close at $379.57. Musk’s offer is 9 per cent higher than Tesla’s peak closing price of $385 reached nearly a year ago.By taking Tesla private, Musk believes that the company will be able to sharpen its long-term focus of revolutionizing an automobile industry dominated by fuel-combustion vehicles without having to cater to investors’ fixation on how the business is faring from one quarter to the next.Making money has proven elusive for Tesla while it has been investing in electric car technology and ramping up production of its vehicles, including a sedan with a starting price of $35,000 to appeal to a broader audience.The company has only posted a quarterly profit twice in its history and has never made money during an entire calendar year, something that Musk has been trying to change by cutting costs, including recent mass layoffs that trimmed Tesla’s workforce by 9 per cent. Tesla lost another $717.5 million in its most recent quarter.Musk “has been running Tesla like a private company with publicly traded stock anyway so this deal makes some sense,” Gartner analyst Mike Ramsey said.Tesla completed an initial public offering of stock in 2010, largely because Wall Street provided a convenient vehicle to raise billions of dollars to finance its expansion. By going private, Tesla will lose that convenient source of financing, something that could cause massive headaches if the company continues to burn through cash as much as it has in recent years, Ramsey said.Despite its challenges, Tesla has remained a favourite among many investors, partly because of their faith in Musk, who made his initial fortune as a co-founder of PayPal and also is the CEO of a trail-blazing aerospace company, SpaceX, that’s already private.But another substantial segment of investors are convinced Tesla is doomed to fail and are betting on the company’s eventual demise by becoming “short sellers” of its stock. Short sellers borrow shares from other investors and then immediately sell them on the premise that they will be able to buy them back at a lower price later to replace they stock they borrowed.Musk has long raged against short sellers and mentioned his desire to be rid of them as one of his reasons for taking Tesla private.“Being public means that there are large numbers of people who have the incentive to attack the company,” he wrote.If Musk decides against going private, Gordon said his credibility could take another hit, though one he could weather.“If he doesn’t go forward with it, it will end up be another Elon Musk big mouth faux pas,” Gordon said. “He will live to see another day. People will shake their heads and say, ‘that’s Elon.’”____Alexandra Olson reported from New York.
Numerous rallies and truck convoys have been held across Alberta and Saskatchewan in recent weeks to protest against federal actions that critics say will make building pipelines more difficult. Those include Bill C-69 to revamp the National Energy Board and Bill C-48, which would ban oil tanker traffic on British Columbia’s northern coast.A convoy in Medicine Hat, Alta., last weekend attracted 650 vehicles, according to police, and groups are planning one in February that will travel from Western Canada to Ottawa.“Today, I say to Ottawa, can you hear us yet?” Miller asked the crowd during Saturday’s rally.“Don’t worry, you’ll see us in February when we convoy to Ottawa!”A truck convoy was also held Saturday in Lloydminster, which straddles the Alberta-Saskatchewan boundary.Earlier this month the federal government announced it would spend $1.6 billion to help energy companies struggling due to plunging oil prices. The page stresses that the event is not connected to the so-called yellow vest campaign, which also advocates for pipelines but is associated with opposition to Canada signing the United Nations migration pact.“To be clear, we take issue with bad policies put forward by Justin Trudeau’s government, but we do not favour any political party. This movement is about supporting our families,” the Facebook post states. But Jason Nixon, who represents Rocky Mountain House in the provincial legislature, said what Alberta really wants is pipelines.“Trudeau, we don’t want your money. We want you to get out of the way,” Nixon said to the crowd in Rocky Mountain House.The groups Rally 4 Resources and Canada Action say in a Facebook event post that the convoy to Ottawa is intended to end Feb. 20 on Parliament Hill. The post says letters voicing support for the industry, as well as individual and family photos, will be delivered to the Senate. ROCKY MOUNTAIN HOUSE, A.B. – Speakers at another pro-pipeline rally in Alberta continued their attacks on Prime Minister Justin Trudeau on Saturday, saying if leaders in Ottawa don’t hear their message now, they will when a planned convoy arrives there in 2019.Chad Miller with the group Oilfield Dads told the crowd gathered in Rocky Mountain House that the province is suffering its “worst recession turned depression” in a generation due to weakened oil prices, exacerbated by a lack of pipeline capacity.“Even those that put away for the rainy days and then some have had to use their savings, and more, to try to weather this never-ending hard times scenario,” Miller said.
Serbian graphic design student, TamaraMaksimovic, selected to rebrand Air Serbia’snew look.Image: Etihad Airways The rebranding of Serbia’s national airline to Air Serbia, complete with new logo and colour scheme, has given the airline not only a fresh new look, but a whole new identity as part of its 86 year history.Driving the change is Etihad Airways, who recently announced they are about to acquire 49 per cent of Air Serbia, formerly known as Jat Airways, under a five-year management contract.In announcing the change, Etihad president and chief executive officer James Hogan said the rebranding signalled the arrival of an all-new airline along with new opportunities for Serbia. The change, which is not only important for the Serbian economy but also signifies national pride, representing the Serbian people’s heritage and national identity, Mr Hogan added.“The new brand will take the Serbian name and it’s red, white and blue colour scheme from Belgrade to the world,” Air Serbia chief executive officer Dane Kondic said.The rebranding, designed by 25-year-old Serbian graphic design student, Tamara Maksimovic, will ultimately cover every part of the airline, from aircraft exteriors to cabin crew uniforms, ticket offices, boarding passes and advertising.The airline engaged Ms Maksimovic to design the new branding for Air Serbia, upon discovering her work on a graphic design website.“The Jat Airways design came from the former Yugoslavia,” Ms. Maksimovic said. “I wanted to refresh it and make it Serbian… Seeing the design now – I’m super proud of it.”Meanwhile, Etihad Airways has partnered with the Serbian Government, in a move that will enhance trade and investment relations between the United Arab Emirates and Serbia as well as boosting the tourism sector in both countries.“Etihad Airways’ reputation, financial strength and stability will be of significant benefit to Air Serbia and travellers will soon experience an incredible range of new products and services,” Serbian Government Deputy Prime Minister Aleksandar Vucic said.With a financial investment of USD$40 million to come from both Etihad Airways and Government of Serbia, the partnership will consolidate and aim to enhance both airlines’ market competitiveness as the relationship grows over the coming months.Source = ETB News; LB
Michael CrowHad no idea he was a Division I athlete. It was a great opportunity for ASU fans to hear directly from him that he wants a college football playoff for conference champions only and unpaid college athletes who receive a full cost-of-attendance scholarship including a stipend. He didn’t back down from the expectations that Ray Anderson has been setting for all athletic teams.One thing that he believes in that I don’t is the cost of business to play at a high level. We both agree the cycle of hiring coaches to long-term contracts with big buyouts just to fire them is ridiculous. My opinion, though, is that it’s not going to work to go against it because you can’t get the best coaches. They will either not sign in the first place or leave as soon as they receive slight success for greener pastures. The philosophy puts ASU only in the category of the aged coach on his last job or inexperience upstart. I don’t think ASU will ever be a “destination job” with this philosophy.Dr. Crow disagreed. He thinks controllable salaries with extremely high incentive clauses is the key. Pay people within the confines of the Pac-12 and then over-pay for graduating players and winning. I think that’s great in theory but the SEC and Big 10 aren’t going to play in the smaller arena. How will ASU really compete for national championships in football if they’re not competing for the best coaches? Newsmakers Week 2018! It’s the ninth straight year and 10th overall. Every day this week I’ll give you a quick rundown of my thoughts on the comments of each guest throughout the week. Arizonasports.com is the place to go for a complete rundown of the exact quotes from each newsmaker.Day 4:Kevin GuyFull disclosure: the Rattlers’ head coach has been one of my best friends for most of this century. Even if you don’t enjoy indoor football, Guy isn’t just passing the time as a coach after his day job. Winning championships is this man’s pursuit and how he feeds his family. He does it well. A small but interesting takeaway was his admission of what he needs to work on as a GM. Keim thought they need to take a harder look at the heart and mind of a player that loves the game versus the tape that shows a player’s potential. The draft is a ton of projection but if a player is taking plays off, should it matter what they do when they try? Keim didn’t say the name “Nkemdiche” but there was no doubt the defensive lineman is floating towards bust status if he doesn’t embrace the game soon.Ryan McDonoughIt can’t be sugar-coated. This organization is an embarrassment right now. The only question is how long will the “right now” tag be associated with the team?I think the trade for Payton was outstanding. I believe in a timeline with Booker, Warren, Jackson, Payton and Ayton. Bender would be a nightmare match-up off the bench. Things could look better as long as these players don’t have a character flaw. The flaw is the lack of desire to compete every second of every game. I can’t tell if they’re just young and learning or spoiled and entitled. Answer that and you can answer whether you believe in the timeline.This is the off-season where it’s the beginning of the end for McDonough or “the beginning of the beginning.” I don’t think there’s a middle ground. It’s time for McDonough to make a major splash. Ayton in the draft, a Booker and Payton contract extension, the dumping of Chandler’s contract and a mid to major free agent shouldn’t be the goal, it should be the expectation. Is that a high expectation? Yes, but Suns fans have waited long enough. The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires (Matt Layman/Arizona Sports) 2 Comments Share Grace expects Greinke trade to have emotional impact I’m an ASU fan so I hope I’m wrong.Day 5:Steve KeimAs you could guess, Keim didn’t admit much on the quarterback front. His main point was how difficult the moving target is. One little tidbit was how he would work different plans at the same time. It seemed like he could get one plan to work and use that to force movement on another front. An example, if Keim wants Cousins as option A and trading for Foles as option B, he might talk to Cousins’ agent while negotiating the Foles trade. If he gets the trade done, he can then go to Cousins and use the potential trade as leverage, “We’ve got something else in the fire now, come down in price or we’re out.” Cousins still might be option one and now you can test if the Cards are truly, his option A.The huge takeaway from Keim was his non-answer to the David Johnson question. We asked when was the last time Keim spoke to David Johnson’s agent about a contract extension. Instead of answering the question, Keim discussed Fitzgerald’s return. He dodged the question in a joking way but it shows the negotiations have started. There’s no way to read into where they are or how it’s going but you can read into it’s happening now. Top Stories Brian MuellerThe GCU President hit a home run today with what they mean to the West side. From a broad standpoint, the huge takeaway was the news Mueller has met with ASU President Dr. Crow about their past differences and coming together in the future. That’s great news for the valley. As GCU becomes a non-profit, research university, we benefit. At that point, Dr. Crow would, hopefully, allow athletic competition between the teams. A Majerle/Hurley rivalry would be great theatre from two of the most fiery competitors we have in the city. – / 21 Hopefully, any of our other franchises ever get to this problem but it was interesting to talk to Coach Guy about keeping the roster fresh to ensure hunger. Since the Rattlers are always winning championships, Guy believes complacency can creep in if you just assume last year’s team will win this year. New players means fewer guys are truly “defending champions” and, therefore, hungrier for a title.Derrick HallInteresting he admitted the D-backs are in “win now” mode. Obviously, we’d all like to say every team should be. Unfortunately, after the last few years of two or three of our teams buried deep in a hole, we know that isn’t always the case.I totally believe the team is not allowing themselves to get, even remotely, excited about the potential to sign J.D. Martinez. I also believe they, for the first time, actually think it could happen. If Martinez is truly willing to take less years, I think he stays. If not, Arizona has no chance, and the D-backs know it.Hall also talked about the importance of April and May. I think, the beginning of the season is always going to be more important for a team in a mid-market with a bloated payroll. If the D-backs go in the tank early, Pollack and Greinke probably won’t be here late.
The English Premier League has launched an invitation to bid for UK TV rights to the three seasons from 2013-14. The League is offering live rights to an increased total of 154 matches split into seven packages and a free-to-air highlights package including catch-up rights.Live rights are split across five packages of 26 matches and two packages of 12 matches. No single buyer will be allowed to buy more than 116 matches.“This creates a more attractive and compelling offering for both broadcasters and fans; whilst allowing the continued protection of the Saturday 3pm ‘closed window’ and minimising further displacement of Premier League fixtures,” the Premier League said.The League will open a separate sales process for two near-live packages each containing 226 matches – one for linear and one for video-on-demand – and an online clips package for all 380 matches.Despite the controversy around the recent court case to determine whether the League could block access to foreign transmissions in the UK, the rights on offer will be for the UK only, with international rights to be sold separately as before. There had been speculation that the League would move to a system of awarding rights on a pan-European basis.
In This Issue… * Currencies & metals find a bid… * Retail Sales disappoint, big time! * BOC to meet today… * And Richard Duncan on this TTT! And, Now, Today’s Pfennig For Your Thoughts! Big Ben Visits Congress… Good day… And A Tom Terrific Tuesday to you! Well… the MRI I had done on my brain last week showed nothing… HAHAHAHAHA! Yes, there was nothing there! Of course my beautiful bride has told me that for years! And then there were the teachers back in the school years that muttered such things… But seriously… the good news is that no sign of lesions in the brain… I got to thinking yesterday about these bouts I’ve had with cancer… they have hit me, much like I used to play golf… left kidney, right femur & hip, left eye, right mandible… they used to call that “Army golf” left, right, left, right… Well, here we go again! Once again, the traders and hedge fund gurus are selling dollars ahead of a Fed event, in hopes that additional stimulus will be announced at the event. Today, it’s Big Ben Bernanke giving his testimony to lawmakers on the economy. You would think that having been disappointed time and time again by the Fed Heads, that going down this road once again would be avoided at all costs… But, as I told you about a month ago… the crown that gets placed on your head forever, when you are the first to call something, holds great value to these traders and hedge fund gurus, so they are always willing to go out on the limb… I would be surprised 6-ways from Sunday if Big Ben even mentioned stimulus today and tomorrow as he speaks to the Senate and House on different days. But that’s not stopping the bias to sell dollars which began yesterday mid-morning, and continued throughout the day and overnight sessions. So… we begin the day today with the euro having moved from playing peek-a-boo with the 1.22 handle to now playing the game with the 1.23 handle… The last time, we went into a Fed event with the traders et.al. selling dollars in hopes of an additional stimulus announcement, the euro got whacked by 2-cents when the disappoint set in… So, the downside risk today is great, folks… be careful… But then if you are one to think that Big Ben will use the testimony on the economy to announce additional stimulus, then you’ll want to jump on the “we got the call right first crowd” bandwagon… I’m skeptical, at best here, folks… I really don’t think Big Ben, even with his, “what you dare to question the great and powerful Oz” mantra, would take this time to announce additional stimulus… Getting on… Remember when I told you that German exports were kicking tail once again with the relatively weaker euro allowing their manufactured goods to be more competitive? Well, if the were doing well when the euro was 1.30, imagine how well they are doing with it around 1.23! it is now thought that the weaker euro will allow Germany’s nominal Trade Surplus to equal 4% of the German GDP… So… German exporters are happy campers with the weaker euro… as they should be! And as long as the euro remains stronger than the dollar, given the problems of the Eurozone, what does that tell one about the dollar? OK… The Bank of Canada (BOC) meets this morning to discuss rates… this will be a non-event, as BOC Gov. Carney, wants to remove monetary policy stimulus, but just can’t pull the trigger with all the problems of the Eurozone and the U.S. right now. The Eurozone is in recession, and the U.S., although I say it never left the depression, but officially came out of recession, is ready to re-enter it, says, PIMCO Bond king, Bill Gross… So, I don’t expect much in the way of movement from the Canadian dollar / loonie, from this non-event BOC meeting… I think everyone knows the hand that the BOC has been dealt at this point. The Reserve Bank of Australia (RBA) meeting minutes for the July meeting earlier this month, were balanced to slightly hawkish. The RBA once again said that they were comfortable with the current rate cuts made, and will continue to monitor the effects of those rate cuts made earlier this year. These meeting minutes have helped the Aussie dollar (A$) to continue to gain in the $1.02 handle, heading to $1.03… Last night, Japanese Finance Minister, Azumi, tried his hand a jawboning in an attempt to slow down the speculative trading in the Japanese yen. This is typical of how the Japanese do things… the yen is strong, as it briefly went below the 79 handle yesterday (yen is a European priced currency, so the lower the number the more in value it has VS the dollar), and this strength in the yen has been driving Japanese officials crazy… But, as I’ve said before, they can jawbone all they want, the markets are not afraid of the Bank of Japan (BOJ) any longer, for they know all too well that to really move the yen weaker, and cause massive losses for holders of yen, that the BOJ would have to work in coordination with the U.S. and Eurozone… They have other problems work on right now to deal with Japan’s currency strength problem… In China the State Council will meet this week, and from this meeting we could very well see the additional measures that will be adopted by the Chinese Gov’t in an attempt to regenerate the moderating economy. The Chinese renminbi/ yuan posted gains overnight. This is the first time in a week or so that Chinese officials have allowed the renminbi/ yuan to gain. So, maybe, they know something about Big Ben’s visit to the Senate today… And here we go again with Gold, as it nears $1,600 again this morning… The shiny metal has been manipulated so much lately that it’s difficult to get traction. Artur over in our Business FX group told me about a new Gold trading platform that Italy started last week… Good for them! I talked at length about Gold manipulation in the next edition of the Review & Focus, which is sent monthly to EverBank World Markets clients. You’ll want to pick up a copy of that at your nearest newsstand when it comes out! HA! When will the public demand this be stopped? When a much larger percentage of the population owns Gold… that’s when! Well… yesterday’s Retail Sales data here in the U.S. for June was absolutely disappointing, just as I said it would be… June Retail Sales fell -.5% when a +.2% gain was forecast. Not by me! But by the so-called experts… Of course if these experts would just check the BHI (Butler household Index) it has a more consistent indication of what Retail Sales will be… So, Big Ben Bernanke will have this data in his back pocket when he travels to the Senate today… The back side of the financial storm is moving more onto our shores, folks… More and more economic data confirm that, and still no one does a thing about it… We’ll be inundated with economic data today… some of it stupid pet tricks, and some of it worthy of the paper it’s printed on. CPI will print… and so too will Industrial Production and Capacity Utilization… Long time readers know under what category those economic data prints fall under… But when it’s all said and done today… the markets will be moved by Big Ben Bernanke’s testimony or they won’t… the economic data will be “extras” today… Then There Was This… Richard Duncan is an author and analyst that has written at least two books that I have poured myself into over the years… First it was: The Dollar Crisis, that was written about 10 years ago, and then the most recent book, The Corruption of Capitalism… He “gets it”, folks… Always has… and he was interviewed on CNBC yesterday, and decided to tell the world that he believes the risk of a new depression… Here are a couple of snippets from his interview on CNBC Europe yesterday. Richard Duncan – “When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression. If this credit bubble pops, the depression could be so severe that I don’t think our civilization could survive it.” Chuck again… I have to say that reading that gives me the chills… and would hope that we don’t get to that… Hopefully, spending cuts that would alleviate the need to go to the credit markets will steer us around that problem… But the spending cuts have to come, folks… NOW! In addition, I sent an email to my friend, John Mauldin, yesterday after I saw him on Bloomberg TV, talking about the debt, and how he was optimistic that Congress would do the right thing and begin to cut debt… my email simply said, “John, you are far more optimistic than I regarding Congress and their will to cut the deficit spending and debt… I believe there is no political will to do so, for it does not get them reelected, and with the large number of voters receiving some sort of Gov’t payouts, to cut those payouts would be suicidal for their reelection chances… John replied… “If we don’t, then it is a disaster of Biblical proportions”… I agree with that… but then I’ve been telling people about the disasters that this growing debt were going to cause for over a decade now… To recap… The currencies and metals began to gain mid-morning on Monday, and carried on throughout the overnight sessions. It seems the traders et.al. don’t ever learn a lesson… they are once again selling dollars ahead of a Fed event, in hopes to be the first to take advantage of an announcement of additional stimulus… Chuck thinks they will once again be disappointed by the Fed Heads… The BOC meets today, expect no move, and the RBA meeting minutes had a hawkish bias to them. Currencies today 7/17/12… American Style: A$ $1.0285, kiwi .7980, C$ .9850, euro 1.2285, sterling 1.5635, Swiss $1.0230, … European Style: rand 8.1930, krone 6.0835, SEK 7.0105, forint 233.35, zloty 3.40, koruna 20.6240, RUB 32.43, yen 79.05, sing 1.2625, HKD 7.7560, INR 55.08, China 6.3730, pesos 13.19, BRL 2.0345, Dollar Index 83.08, Oil $88.53, 10-year 1.48%, Silver $27.41, and Gold… $1,593.30 That’s it for today… a great 9th inning rally and win last night by the Cardinals… of course I didn’t see it until this morning! 4th day on my new medicine… so far so good, It just makes me feel a bit off-kilter… but then it’s only been 4-days… in 4 weeks that will be a better judge! This nasty cold bothers me more than the chemo medicine! In fact, it woke me up much earlier than I get up this morning, so I had me a bowl of Cheerios for breakfast! With toddlers always at the house, Everett and Braden, there are always Cheerios! And How about that guy that caught the little girl that fell out of a 3rd story window? WOW! And Happy 50 years of performing, to the Rolling Stones… They celebrated that last milestone last week! Sticky Fingers is still my fave Stones album… And with that… I hope you have a Tom Terrific Tuesday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.com
Porter’s Shocking Admission about Stock Picking “This is the most amazing thing I’ve ever learned about finance,” said Porter recently. “It could turn terrible investors into good investors – instantly.” Read More Recommended Links — Yesterday, oil plummeted to its lowest level in nearly seven years… The price of oil fell 6.2% to $37.65, its lowest level since February 2009. Oil has now fallen an incredible 65% since peaking at $106 in June 2014. The world has a massive oil surplus right now. The oil stockpiles of developed countries hit a record high of nearly 3 billion barrels in September, according to the International Energy Agency. Yet major producers are still pumping oil… Monthly oil output for the U.S., the world’s largest oil producer, is at its highest level in nearly three decades. Russia, the world’s third-largest oil producer, is pumping more oil than it has since the Soviet era. The Organization of Petroleum Exporting Countries (OPEC) is also pumping near record amounts of oil. OPEC is a cartel of 12 oil-producing nations. It accounts for 40% of the world’s annual oil production. On Friday, OPEC made clear it isn’t cutting production. • Weak oil prices have crushed energy stocks… SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which tracks large U.S. oil producers, has dropped 61% since oil peaked last June. Oil services companies, which sell “picks and shovels” to the oil industry, have also tanked. The Market Vectors Oil Services ETF (OIH), which holds 26 oil services companies, has lost 50% since last June. • Oil companies have shelved billions of dollars’ worth of projects… Energy consulting firm Wood Mackenzie estimates that North American oil companies alone have cut spending by $220 billion since last summer. And that’s only the beginning. The firm estimates that $1.5 trillion worth of North American oil projects can’t make money when oil trades for $50 or less. With oil trading below $40 now, they’ll likely make even bigger cuts. Meanwhile, investment research firm Moody’s expects cash flow for the global oil industry to drop by at least 20% this year. • Canada’s energy sector is in a full-blown crisis… Canada is the world’s fifth-largest oil-producing country. Crude oil makes up 18% of Canada’s exports, making it by far the country’s biggest export. In October, The Conference Board of Canada said it expects revenues for Canada’s energy sector to fall 22% this year. It also expects the industry to record a net loss of about C$2.1 billion ($1.6 billion) in 2015. Last year, Canada’s energy industry made a C$6 billion profit. • E.B. Tucker, editor of The Casey Report, said this would happen… A few months back, E.B. visited Canada’s oil country to see the crisis firsthand. E.B. shared his analysis in the October issue of The Casey Report. In that issue, E.B. said Alberta would become ground zero for Canada’s energy crisis. Alberta accounts for 16% of Canada’s $2 trillion annual GDP. And energy makes up a quarter of Alberta’s economic output. That means the entire province of Alberta is heavily influenced by the price of oil. Alberta’s economy shed 63,500 jobs from the start of the year through August. It hasn’t lost that many jobs in the first eight months of the year since the Great Recession. Last month, Alberta’s unemployment rate jumped to 7%, its highest level in five years. • E.B. also said the crisis would spread from the oil patch to other parts of Alberta’s economy… Here’s E.B.: While energy only makes up 25% of the province’s GDP, Albertans will be shocked when they see what happens to other sectors now that the oil business has been cut in half. Construction, finance, real estate, and services all benefited from a 15-year oil boom. These other sectors will start shrinking soon. And it’s not going to be pretty. E.B was right. The boom times are clearly over…but Canada’s economic problems are just starting. • Canada’s central bank is scrambling to fight the crisis… Lowering interest rates is the main tool central bankers use to stimulate the economy. To fight the financial crisis, the U.S. Federal Reserve cut its key rate to effectively zero in December 2008. Low rates make it cheaper for consumers and businesses to borrow and spend, which helps the economy…at least in theory. The Bank of Canada (BoC) – Canada’s version of the Fed – has already cut rates twice this year. Its key rate is now 0.5%. • The Bank of Canada might drop its key rate to zero soon… Last month, Carolyn Wilkins, the BoC’s number two official, said, “It’s more likely that policy rates will fall to zero than in the past.” Even so, more rate cuts are unlikely to help Canada’s economy. Last month, Bloomberg Business reported that the Bank of Canada is already considering other options. “One important challenge for central banks now is that conventional monetary policy is stretched to its limits in some countries, where policy interest rates are at, or below, zero,” [Wilkins] said. “Because of this, a number of countries are using innovative monetary policy measures to return inflation to target.” Wilkins is essentially saying the BoC might launch its first quantitative easing (QE) program. QE is when a central bank creates money from nothing and pumps it into its financial system. It’s basically another term for money printing. Regards, Justin Spittler Delray Beach, Florida December 08, 2015 We want to hear from you. If you have a question or comment, please send it to email@example.com. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful. • QE would devalue Canada’s currency even more… Yesterday, low oil prices pushed the Canadian dollar to an 11-year low against the U.S. dollar. The Canadian dollar is now down 15% against the U.S. dollar over the past year. QE pumps money into a financial system without creating anything. The result is more currency units chasing the same number of goods. This makes a currency less valuable. QE is the last thing the Canadian dollar needs right now. As Casey readers know, the Canadian dollar is just one of many major currencies that has lost a huge amount of value this year. The Japanese yen has lost 16% against the U.S. dollar over the past year…the euro has lost 18%…the Australian dollar has lost 19%…the Mexican peso has lost 22%…and the Brazilian real is down 39%. These are stupendous moves for major currencies. After all, we’re not talking about volatile biotech stocks. This is the value of money in peoples’ bank accounts. • These huge losses suggest we may be in the early stages of a global currency crisis… Casey Research founder Doug Casey has been warning of a currency collapse. He believes a collapse of major currencies could wipe out trillions of dollars in wealth, including pensions. Here’s Doug: It’s going to be much more severe, different, and longer-lasting than what we saw in 2008 and 2009…The U.S. created trillions of dollars to fight the financial crisis of 2008 and 2009. Most of those dollars are still sitting in the banking system and aren’t in the economy. Some have found their way into the stock markets and the bond markets, creating a stock bubble and a bond super-bubble. The higher stocks and bonds go, the harder they’re going to fall.” Unlike most people, Doug Casey has actually lived through a currency crisis. He was in Argentina when its currency collapsed in 2001 during the largest sovereign debt default ever. By making smart investments, he even managed to make a large gain on his money in the aftermath of the crisis. We recently recorded a video presentation with Doug on this topic. In the video, Doug shares his advice on how to position your money and investments for the collapse of a major currency like the U.S. dollar. Click here to watch the video. Chart of the Day The currencies of several major oil-producing nations are collapsing… Crude oil is the number one export of Canada, Norway, Russia, and Colombia. Each country’s currency tends to move with the price of oil. Today’s chart shows the performance of all four currencies versus the U.S. dollar. As you can see they have all crashed over the past year. The Canadian dollar (CAD) has dropped 15% to an 11-year low. The Norwegian kroner (NOK) has dropped 18% to a 13-year low. The Russian ruble (RUB) has dropped 23%. It’s now within 2% of the all-time low it hit in August. The Columbian peso (COP) has dropped 30%. It’s also flirting with its all-time low. Alternative currency that performs 300% better in a currency collapse Today, most Americans know absolutely nothing about, let alone own, this incredibly valuable asset. Click here to learn more. –
Tries from Lachlan Coote, Regan Grace and a double from Dom Peyroux was added to by tries from Zeb Taia, LMS, Mark Percival and Jonny Lomax in a memorable 42-12 win over the Tigers on their home patch.Saints will be looking to maintain that 100% record as we face Hull KR at the Totally Wicked Stadium on Friday 29th March (kick off 7:45 pm). Tickets are available from the Club Ticket Office at the Totally Wicked Stadium, by calling 01744 455052 or by clicking here.
November 21, 2018 COMMENT The Occupational English Test (OET), the English language test for healthcare professionals, is organising its first-ever Healthcare Communication Forum in India on November 30.Since Kerala is well-known world-wide for advancements in healthcare, the inaugural Forum is being conducted in Kochi. Healthcare professionals, hospital administrators, employers, educators and academics may participate in this Forum with prior registration.Those who would like to attend the forum should register online via https://www.occupationalenglishtest.org/events/healthcare-communication-forum-2018/. Attendance is complementary and the last date for registration is November 25.OET is recognised as proof of English language proficiency for registration purposes by major healthcare boards and Councils in the UK, Ireland, Australia, New Zealand, Dubai, Singapore, Namibia and Ukraine. It is also accepted in Australia and New Zealand for visa and immigration purposes.The Healthcare Communication Forum brings together leading researchers, healthcare communication experts, English language specialists, healthcare regulators, employers and educators to discuss the latest research, trends and updates in healthcare communication.Experts from India and speakers from various countries will take centre stage to share their knowledge at the forum. Published on Kochi events COMMENTS SHARE SHARE EMAIL healthcare industry language SHARE