02 Jul
Posted by Allison Thomas as Corporate Finance
Note: I’ll post a graph of June vehicle sales, probably around 4 PM ET (after all the data is released).
In a research note released today, Goldman Sachs economist Andrew Tilton listed five hopeful signs for the 2nd half of 2011:
First, commodity prices have eased. Using a standard seasonal adjustment procedure, retail gasoline prices are back to end-2010 levels.
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Second, despite the increase in interest rates this week, financial conditions are easier than at any point in 2010. Bank lending standards remain tight, but these too are easing on the margin.
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Third, the decline in house prices may be abating.
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Fourth, vehicle production has rebounded following large disruptions due to the Japanese earthquake and tsunami.
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Fifth, labor market indicators seem to have stabilized after some worrying readings in late April and May, although well have to wait until next Fridays June employment report for a more definitive assessment.
01 Jul
Posted by Brian Anderson as Finance Help
St. Jude Children’s Research Hospital remains one of the nation’s top places for academics to work, according to a ranking released today by The Scientist magazine.
St. Jude retains its No. 2 ranking from last year, eclipsed only by The J. David Gladstone Institutes in San Francisco, Calif.
The Fred Hutchinson Cancer Research Center in Seattle, Wash., rounds out the top three U.S. institutions for 2011.
Internationally, the top three institutions were the Weizmann Institute of Science, INRA in Versailles, France, and the University of Queensland based in Brisbane, Australia, earned third-place accolades.
Top-ranked institutions not only offered a productive research environment, but also offered a fun, casual atmosphere, according to the magazine.
For example, at the University of Dundee in Scotland, No. 6 a
01 Jul
Posted by Brian Anderson as Finance Help
Despite fierce competition in Brazil with other operators and internet players, the country’s largest mobile operator, Vivo (NYSE: VIV), has found that users will still pay for mobile content if it is innovative and relevant, according to Felipe Bernal, products and services manager at the company.
In a move to help increase customer loyalty, in October 2009 the company launched its first version of the Kantoo mobile learning platform for subscribers to learn English. If operators just focus on the “dumb pipe” provision of connections to widely used services such as Facebook, then users can easily turn to other connectivity suppliers, he said, speaking at the Mobile VAS Forum, which took place in Miami.
Indeed, moving beyond traditional VAS helps operators to have a positive impact on branding and reduce churn, allowing firms to profitably take new services to lower-income groups, according to Mike Roberts, principal analyst and head of the Americas at consultancy Informa Telecoms & Media.
01 Jul
Posted by Brian Anderson as Finance Help
The JV between federally controlled bank Banco do Brasil (BB) and Spanish insurance group Mapfre is beginning to take shape, following Thursday’s (Jun 30) announcement that the companies would now start operating in a unified manner.
The JV, to be called Grupo Segurador Banco do Brasil & Mapfre, will be the second largest insurance group in Brazil. The alliance was first announced in May last year, via a 20-year dual holding deal.
The first holding, called BB Mapfre SH1 Participaзхes (SH1), will sell life, real estate and agricultural insurance. BB Seguros has 74.99% of the total capital, with Mapfre holding the reminder.
The second holding, Mapfre BB SH2 Participaзхes (SH2), will sell P&C products – including auto insurance – but excluding those segments covered by SH1. BB Seguros and Mapfre will each have 50% of the total capital in this holding.
01 Jul
Posted by Brian Anderson as Finance Help
Lake Vonda in Hardeman County, which was set to be auctioned off on June 28, didn’t attract a top bidder, but some interested parties are now in negotiations to purchase the site.
A crowd of primarily friends, family and nearby neighbors attended the event, auctioneer David Hudgins of United Country Hudgins Auctions said today, but most were interested in purchasing small, individual tracts of the 417-acre recreational site. However, no firm bid for the entire property emerged. The site had been appraised for tax purposes at $4.8 million, but was expected to bring bids of $1.5 million to $2.5 million.
The site features nine cabins; a 36-acre lake with water slides; a 15-acre lake with ponds and a creek; an in-ground pool; a pool house; playground; gazebos; fountains; go-cart track; multipurpose buildings; RV sites with underground utilities; walking and riding trails; and camp sites.
After the auction, sellers were contacted by two unnamed parties interested in the property and a sales agreement is expected within the next few weeks, Hudgins said.
The retreat, which was built by the late P.T. G