User: SweetChildrenFilms |
Parental Advisory A documentary I had to do for film class on the rating of music. Music: Shut Me Up - Mindless Self Indulgence 1985 - Bowling for Soup Just A Girl - No Doubt The Real Slim Shady - Eminem What's My Age Again? - Blink 182 Bat Country - Avenged Sevenfold London Bridges - Fergie Passive - A Perfect Circle Longview - Green Day American Idiot - Green Day Darling Nikki - Prince We're Not Gunna Take It - Twisted Sister Sleep Now in the Fire - Rage Against the Machine Video from Cartoon Network's Adult Swim - Metalocalypse Tags: Parental Advisory music rating documentary |
User: suflex123 |
JAW feat. Hollywoodsfinest - Parental Advisory JAW und Hollywoodsfinest auf einem Track, mehr muss man dazu nicht sagen. Meiner Meinung nach 2 der 4 besten deutschen Rapper. (JAW, Kollegah, Favorite und Hollywoodsfinest) An die Hater: Ihr habt keine Ahnung, hört weiter Bushido! P.S:Am Ende des Videos ist iwie etwas passiert, ist aber nicht so schlimm :) Tags: hollywoodsfinest jaw hollywood hank rba german rap hiphop parental advisory kollegah favorite bushido sido aggro berlin |
User: Chadner |
Monty Python - Careers Advisory Board from Monty Python's Flying Circus Season 1 - Episode 05 - Man's Crisis Of Identity Recorded 03-10-69, Aired 16-11-69 I'm slowly uploading the entire Flying Circus series... Got any requests? Tags: monty python flying circus man crisis identity john cleese graham chapman michael palin eric idle terry jones gilliam |
User: psychetruth |
FDA Advisory & Big Pharma Conflicts of Interest, Psychology MySpace Friend Me http://www.myspace.com/psychtruth FDA Advisory & Big Pharma Conflicts of Interest, Psychology w/ Shannon Not a conspiracy theory because it's just too easily documented. Members of the FDA Advisory Committees for psychiatry and risk management have major ties to the drug industry. This video was produced by psychetruth http://www.youtube.com/psychetruth http://www.myspace.com/psychtruth http://psychetruth.blogspot.com Psychetruth is empowered by TubeMogul http://www.tubemogul.com © Copyright 2008 Zoe Sofia. All Rights Reserved. Distributed by Tubemogul. Tags: FDA Advisory Big Pharma conflicts of interest psychology shannon psychetruth psychiatry conspiracy theory drug industry |
User: ThomsonFinancial |
Corporate Advisory Insight: REIT Alana Hartley from Thomson Reuters' Corporate Advisory Services group discusses REIT Transcript: Quite often we hear about REITs being traded on the stock exchange, or included in mutual funds. But what, exactly is a REIT?? My name is Alana Hartley, and today I'm going to explain to you about REITs. R-E-I-T is the acronym for "Real Estate Investment Trust". According to NAREIT, the definition of a REIT is... A company that owns operates income-producing real estate. There are some REITs that finance real estate. To be a Public REIT, a company must distribute at least 90 percent of its taxable income to shareholders in the form of annual dividends. The REIT vehicle has become an important portion of the investment markets. There are at least five benefits as to why REITs have grown in popularity by policy-makers and investors alike in the U.S... Diversification Dividends Liquidity Performance, and Transparency The U.S. REIT Market has seen its equity market capitalization skyrocket from 90 billion dollars to more than 300 billion dollars in just the past 10 years. During that period, that growth has set the stage for the adoption of the "REIT approach" to "securitized real estate investment" across the globe. There are three different types of Public REITs: Equity, Mortgage, and Hybrid. Equity REITs own assets; Mortgage REITs own debt; and Hybrid REITs own both. Most companies invest in a specific property type...including Retail, Office, Apartment, Warehouse, and Hotel. A REIT is the tax designation for a corporation investing in real estate. This tax designation reduces or even eliminates corporate income taxes. As stated before, REITs are required to distribute 90% of its income. The returns are in annual dividend form, which may be taxable in the hands of investors. Originally created by Congress in the 1960's, REITs were designated to make investments in commercial real estate accessible to all investors in the same way they typically invest otherwise. This is done through the purchase and sale of liquid securities, without being taxed on two separate levels. There are many stipulations that a company must abide by in order to file under the REIT tax status. Four of the most important policies are: (1) 95% of its income must be derived from dividends, interest, and property income, (2) dividends must be paid on at least 90% of the REIT's taxable income, (3) the firm must make sure at least 75% of total investment assets are in real estate and (4) the firm must derive at least 75% of gross income from rents or mortgage interest. In sum, investing in REITs is a liquid, dividend-paying means of participating in the real estate market. I'm Alana Hartley and this is Corporate Advisory Insight. ¬ Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations |
User: talantischannel |
Indigen (Parental Advisory / Explicit Content) Coming soon Tags: animation 3D CGI short-film court-métrage ice age talantis eetchy and scratchy gore blood action black animal fight ibdigen |
User: ThomsonFinancial |
Corporate Advisory Insight: Corn John Dieser from Thomson Reuters' Corporate Advisory Services group discusses corn. Transcript: Corn is the most widely produced feed grain in the United States, accounting for more than 90% of total production. Used in everything from tortillas to whiskey, corn is the number one food ingredient, and consumers are paying the price of higher corn costs. The U.S. produces more corn on an annual basis than the rest of world's top ten corn producers combined. Estimates for 2008 show that 86 million acres in the US are set to harvest corn. So why are corn prices skyrocketing? I am John Dieser for Corporate Advisory Insight to discuss this topic. Not only is corn a staple in food production, but it is also a commodity that is being diverted to create ethanol fuel. The ethanol sector has grown substantially from a cottage industry to a hearty source of renewable fuels. With this growth comes a tremendous increase in demand for corn. Ethanol represents a significant market for U.S. corn, consuming more than 2.3 billion bushels in 2007 to produce 6.5 billion gallons of renewable fuel. In addition, flood waters in the Midwest have either destroyed or delayed millions of acres of corn, causing a ramp-up in world food prices. Farm and business losses due to the flooding are expected to be in the billions of dollars. The U.S. Department of Agriculture estimated that 43% of this year's crop is in fair to very poor condition. These factors account in part for the increase in corn, wheat and soybean prices that we've seen recently, just to name a few. Over the past several weeks, corn futures have reached upwards of $7.30/bushel. Compare this to 2005, when corn prices averaged $2.52/bushel. Also, due to a shift towards planting more corn acreage by farmers in order to reap the benefits of the escalating corn prices, supply/demand methodology would predict falling corn prices and increasing soybean prices. Unfortunately, only the latter is true as corn supply continues to be used up for ethanol production, while the decreasing acreage devoted towards soybeans is now driving prices up as well. Soybeans futures are now up almost 200% in the last 5 years. How important is the price of corn to the overall economy? As corn prices rise, agricultural companies stand to benefit as their corn or corn seeds command a higher price on the market. Archer Daniels Midland (ADM) and Bunge (BG) are examples of growers of that are benefiting from the bull market in corn. Their products reap a higher price on the market. Similarly, Monsanto (MON) and DuPont (DD) produce genetically engineered seed specifically targeted towards ethanol production. In an environment such as the current one, these products fetch a premium. Conversely, companies who buy corn or derivative products can be hurt considerably by higher prices. Hormel Foods (HRL) and Tyson Foods (TSN) are examples of food products companies that are hurt as prices rise because higher corn prices equate to higher feed costs for livestock. Coca-Cola (K) and Pepsico (PEP) also get squeezed as corn is a main ingredient in syrup for soda and various snacks. These companies don't absorb all of that cost themselves, though - much of it is passed on to the consumer. Consumer food prices have been rising at a 6.3% seasonally adjusted annual rate this year. Earlier in the decade, food prices rose at an average 2.5% annual rate. What does this mean? When there are cost shocks in the food production system due to changes in the commodity or farm product market, most retailers respond by passing on a fraction of their higher costs to consumers. An increase in the price for meat, poultry, eggs, milk, fresh fruit, and fresh vegetables is one consequence that we have seen. While higher corn prices are helping some, many companies and most consumers are paying dearly, and the economy is struggling to stay afloat. So it seems that corn is in fact affecting our daily lives. I am John Dieser and this is Corporate Advisory Insight. Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations |
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Corporate Advisory Insight: Crisis Communications Arzu Cevik from Thomson Reuters' Corporate Advisory Services group discusses Crisis Communications for Public Relations Professionals. Transcript: Given the number of lawsuits companies face and how quickly bad news travels, public relations teams have their hands full. I'm Arzu Cevik with Thomson Reuters and today, we're discussing Crisis Communications for Public Relations Professionals. So what's the best way for a PR team to handle a crisis? Every situation is different but there are some general guidelines to follow: 1. BE PROACTIVE. Don't wait until a crisis hits in order to develop a framework for a response. Internal knowledge -- get to know key people in each department so if you're faced with a particular crisis, you'll know who to get in touch with as soon as possible. This is especially true of senior management. You want to understand how management thinks and how they might respond in a crisis. External contacts - Build relationships with print and web publications. This will make getting the company's message out easier in times of a crisis. Practice -- Role playing is an important strategic tool many companies use to determine the appropriate response. Delegate -- While it's important to have control of a situation, time is important and having a responsible team in place to share the burden will help expedite things. Have team members in place that have media experience (and can be camera ready), have good writers on hand to draft press releases and other media tidbits and prepare admin staff to handle the field questions by phone and help conduct outreach. AFTER A CRISIS HITS - What should PR teams do? First, 1) Understand the scope of the problem. Bee able to quantify it in terms of customers or dollar impact in a way that's easy to understand. 2) Consult with management and converse with other experts that are familiar with the crisis. For example, if a crisis were to occur at a particular facility, it makes sense to talk with that facility's manager. 3) Talk to legal to discuss what should or should not be said. 4) When drafting a response, keep it simple and consistent. 5) One message - Convey the message to employees. This is important if employees are dealing with clients and customers. Keep the number of individuals talking to the media to a minimum and maintain consistency. 6) Anticipate any responses especially the difficult questions and draft potential questions. It's a good idea to review with legal. Getting your message across: 1) Speakers should not discuss anything off the record... This prevents people going off message and staying on point. 2) Practice Q&A internally with management and legal. 3) Make sure any communication is simple and consistent. 4) It's okay to say no or I can't answer that question. Don't let your answers lead to more questions. Be concise. Finally -- PR teams shouldn't underestimate the value of video -- more specifically the use of webcasts because they're a cost-efficient and fast way to get your message across to media outlets and to the public. _______ For more information about this report or any of our strategic research reports, please contact your CAS representative. Thanks and have a great day! Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations |
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Corporate Advisory Insight: 2007 Shareholder Activism Review Glenn Curtis from Thomson Financial's Strategic Research group reviews shareholder activism in 2007 Transcript: Good afternoon everyone -- my name is Glenn Curtis -- and I am a director in the Strategic Research Group at Thomson Financial in New York. For those unaware of my group -- STRATEGIC RESEARCH -we focus on and study a variety of corporate governance issues ranging from executive compensation, director liability, crisis communications, and a variety of other subjects that traditionally appeal to IROs and the C-Suite. SOME OF MY RECENT REPORT TOPICS INCLUDE: CEO SUCCESSION PLANNING, BOARD EVALUATIONS, DIRECTOR LIABILITY, AND THE EVER POPULAR "WHAT TO DO WHEN YOUR STOCK BLOWS UP" Today however, I am here to talk to you about shareholder activism -- and more specifically instances of activism that occurred in 2007. Recently I completed a report detailing activism activity between the first and the third quarter. The report details activist situations that took place specifically from January through September 2007. The source for this data was Thomson's SDC Platinum™ data- base, the SEC, and various press releases. And Here are some highlights: Between January and September 2007 activists attempted to exert their influence at 53 public companies. While some situations have not been resolved to date, 39.6% of instances have been resolved in the activist's favor, while just 20.8% have been resolved in the target company's favor. This is essentially consistent with a study that we completed in the 2001 to 2006 time frame. Some other interesting data from the Q1 to Q3 study: The most common demand made by activist firms was for board seats. • The average target size in terms of market capitalization was $8.49 billion. • Also - Companies engaged in the manufacturing and distribution of electronics and software were among the most popular targets. In fact 34% of all targets encompassed this group. • Companies within the financial industry were also large targets. One of the reasons for this might be that these types of companies continue to have valuable assets on their balance sheets in spite of the looming credit crunch. The recent decline in share prices of the major banks and lending institutions may also be behind the recent interest in the group. • While several well-known activist firms have engaged in some sort of activism over the last nine months, Carl Icahn and entities controlled by Icahn appeared to be the most active. Other well known activists that made headlines during this time were: Pershing Square: Two activist situations. One ongoing and one successful. •Riley Investment Management LLC: Two activist situa- tions. One successful. One ongoing. •Harbinger Capital Partners: Two activist situations. One success. One failure. •Oliver Press Partners: Two activist situations. Both ongo- ing. •Ramius Capital Group: Two activist situations. One suc- cess. One ongoing. • While private equity firms and hedge funds have tended to be the most common activists, mutual funds and individual investors are starting to get in on the action. In fact, T. Rowe Price : The well known mutual fund made a stand earlier in the year opposing a deal to take Laureate Education private. It failed. Also - Erik Jackson -- and individual investor made headlines: Jackson owned less than 100 shares of Yahoo, yet he led a push to oust Yahoo's chief executive, Terry Semel. Now Semel eventually stepped down. And while there are a number of reasons behind his departure (above and beyond the activist movement), Jackson is credited with stirring up a grass roots movement for his ouster. • Finally Perhaps not surprisingly, cash-strapped construction companies and builders were targeted the least by activist shareholders so far during 2007. For more information about this report please feel free to contact me directly at glenn.curtis@thomson.com. You can also check out an executive summary of this report and other reports by going to :the TFCS Intranet -- under internal links -- and then special reports.... Finally, please be on the lookout for a report which details Q4 2007 activist activity in February. Thank you -- again this is Glenn Curtis with the Strategic Research group in New York. Tags: Thomson Financial Corporate Advisory Services Strategic Research Investor Relations shareholder activism glenn curtis |
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Corporate Advisory Insight: Sovereign Wealth Funds Glenn Curtis from Thomson Financial's Corporate Advisory Services group discusses Sovereign Wealth Funds. Transcript: Good afternoon. My name is Glenn Curtis. I am a Director in Thomson Financials Strategic Research group. Our topic today is Sovereign Wealth Funds. Sovereign Wealth Funds, or SWFs, are foreign government investment vehicles. Many of these funds are flush with petrodollars, and have made headlines recently because of their cash hordes. They are now beginning to diversify out of low yielding bonds and into other assets for greater returns. _____________________________________________________________________ Over the last few years, SWFs have received increased scrutiny as their size and scope has grown. Their collective assets under management are now estimated at 2.5 trillion dollars. There are around 25 nations that either operate SWFs or are in the process of creating them. The largest SWFs include the Abu Dhabi Investment Authority, Norway's' Government Pension Fund, Singapore's GIC, the Kuwait Investment Authority, and the China Investment Corporation. Now SWFs are passive and anonymous investors, and they tend to be very long-term holders. However, the sheer number and size of recent SWF investments has created some controversy. The continuing fallout from the U.S. sub prime mortgage market has left many leading European and U.S. banks turning to SWFs for much needed capital infusions in order to support their faltering balance sheets. The SWFs have thus far been willing and able to invest for several reasons. First, they have been attracted to the discount prices at which these companies are trading. Second, some argue that they may have been compelled to intervene as a lack of action could have resulted in a detrimental effect on the global economy and, in turn, on their own investments. I should also point out that banks have found it easier to raise money from the SWFs, because they remain liquid -- and because the capital markets, particularly in the U.S., have been so weak. _____________________________________________________________ Earlier this year, Citigroup announced that the Government of Singapore and Saudi Prince Alwaleed bin Talal had acquired a $14.5 billion stake in the company. This followed Citigroup's announcement last year that Abu Dhabi Investment Authority had acquired a stake. UBS, Merrill Lynch, Morgan Stanley, and Barclays also have reported notable investments from SWFs. ______________________________________________________________ The American public has been concerned by these investments, and has raised issues of transparency, corporate governance and the fear of foreign government influence on domestic corporate strategy. Many of these criticisms are similar to those made about hedge funds a few years ago. However, it is important to note that SWF's profits generally support governments and entire economies, rather than a few wealthy individuals. In addition, SWFs are again generally long term strategic investors while hedge funds have tended to concentrate on a shorter time frame of investment. _____________________________________________________________________- With regards to resolving transparency and corporate governance issues, Norway's SWF is considered by many as the benchmark model in this field, with arms length management from government, disclosure of investment portfolios and returns on an annual basis as well as regular audits from external regulators. _______________________________________________________________________ Looking ahead, there have been calls for a global code of conduct for SWFs but attempts by the IMF in generating a consensus among key players have so far failed. That said, Australia, the EU, and the U.S. are actively developing their own set of rules, which could some argue, force SWFs to invest elsewhere. Incidentally, China has hit back, viewing increased scrutiny as a prelude to a new era of protectionism. For corporate audiences, the key takeaway is to be aware of this new breed of investor and to be familiar with all the key facts in the hope that cooler and wiser heads will prevail. For further coverage on this issue, please check out TF contributions in the FT, The Washington Post and IR Magazine. The Davos talk on SWFs is also available on the You Tube World Economic Forum playlist. And finally I would refer you to Strategic Research's Simon Tse and his report on the subject. For those wishing to view an executive summary of Simon's report or executive summaries of other reports that Strategic Research has disseminated please go to the Corporate Services Center at www.thomson.com/financial/CorporateResources Again, my name is Glenn Curtis with the Strategic Research Group. Thank you. Tags: Thomson Financial Corporate Advisory Services Strategic Research Investor Relations Glenn Curtis Sovereign Wealth Funds |
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Corporate Advisory Insight: Program Trading Hallie Elsner from Thomson Reuters' Corporate Advisory Services group discusses Program Trading. Transcript: As computers continue to become more and more integrated into our daily lives, many decisions that would have been made by us are now left up to technology. Take the example of online retailers, many of which suggest products to users based on the user's previous purchases. In this case, computers are using algorithms developed through back testing to make an educated guess as to what the customer may be interested in. This trend has been growing consistently, as innovations and improvements in technology appear at an astounding rate. The same principle has been extended to the financial world as well. Hi, I'm Hallie Elsner, and today we will be discussing program trading. Every day on Wall Street computers trade large blocks of stock triggered only by an algorithm, or an advanced mathematical equation, developed to provide guidance and make trading decisions in the markets. These trades are called "program trades", and they occur in significant volume and with great frequency, accounting for nearly 30% of the volume of the NYSE. Additionally, the use of algorithms in trading allows investors to obtain the best possible prices without significantly affecting the stock price or increasing purchasing costs. The human element is not completely ignored in program trading. While computers are relied upon to initiate trades when market conditions meet a certain level, the underlying strategy behind a program buy or sell is often not computer -- generated. The algorithms themselves vary dramatically for different portfolios in order to accommodate the goals and targets set by asset managers and brokers. Because each algorithm is unique to each player, it is considered a trade secret to the firm and therefore is closely guarded. Algorithmic trading is a close relative to program trading and has been more prevalent recently. This type of trade occurs when a computer program takes a large order, breaks it up into small blocks of typically 100-300 shares, and gradually submits these pieces to the market. The goal is to complete the order without other market participants realizing that a large trade is in progress. Despite such efforts, program trading can cause prices to fluctuate wildly. Deep sell-offs and rallies in the major indices can be attributed to program trading, which tends to focus primarily on companies within the three broader indices. However, program trading also provides a tremendous amount of liquidity to the market and therefore contributes to an efficient marketplace. Program trades account for a large amount of market activity and therefore should be regarded accordingly. Savvy investors should be aware of the ability of program trades to move markets when making investment decisions. I'm Hallie Elsner and this is Corporate Advisory Insight. Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations program trading |
User: pankpers99 |
advisory - refused [cover] http://www.spazma.net drum+bass by PAblO /thx!/ Tags: advisory refused spazma upojony fałszem punk punkrock polska poland cover ramones dezerter zielone epiphone single cut |
User: soadryan |
Parental advisory colage alot of parental advisory Tags: Parental Advisory |
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Corporate Advisory Insight: Credit Default Swaps Jeff Block from Thomson Financial's Corporate Advisory Services group discusses Credit Default Swaps. Transcript: The growth and impact of a popular derivative security known as credit default swaps have captured financial headlines this year. Many people have heard of them but are at a loss as to what they are, why they are relevant, and their impact on financial markets. My name is Jeff Block with Thomson Financials Strategic Research group to provide basic insight to these opaque securities. First, a credit default swap, or CDS, is an over-the-counter financial contract between two parties that is used to trade the credit risk of a specific company. In its most simple form, the buyer of a CDS is buying protection from the risk that a company might not be able meet its interest and principal payments on its outstanding bonds. Now if the credit risk of a company increases for some fundamental reason, the price of protection increases as well. Think of the concept of buying auto insurance -- if you are a careless driver prone to accidents, you can expect your annual premium to increase. Well, the pricing of credit default swaps is similar. An interesting thing about credit default swaps is that the issuing company is actually not directly involved in the trades. The major participants are usually banks, portfolio managers and traders. The other side of the credit default swap trade, known as the counter party, is the seller and he assumes the risk that a company may not be able to make its payment obligations to bondholders. Like any insurance company, the seller of the credit default swap will receive a fee, or premium, for taking this risk. The greater the risk of the company defaulting on payments, the greater premium. If the company experiences a credit even such as becoming insolvent, the CDS buyer will be compensated. Let me emphasize that the CDS market is not just for hedgers looking for protection. Traders will use these contracts to speculate the future credit of a company. If you buy a CDS contract, you are essentially short the credit. The only way you make money is if the premium moves higher and that will happen if credit concerns of the company increase. Conversely, if you sell a CDS contract, you are long the credit. The trader is not concerned with the risk that the issuing company will experience a credit event and the compensation is the premium paid by the CDS buyer. Let me add that the trading behavior of CDS may indicate a leak in material information that has yet to be picked up on the radar of the equity and option markets. It is prudent for corporations to keep an eye on credit default swaps on their issues prior to material announcements. It also indicates traders' views on the health of the company credit. The credit default swap market has increased in popularity over the past several years, exponentially I might add- it has an estimated notional value near $46 trillion. That is almost five times the size of the US National Debt. One thing to note is the CDS market is unregulated and the industry must police itself, something that has drawn the ire of U.S lawmakers, specifically Senator Charles Schumer. There are also indices on credit default swaps that are terrific barometers for the health of the credit markets called the CDX indices. The CDX indices appear have an inverse correlation with the M&A market. The higher these indices move indicates uneasiness in the credit markets which have an inverse affect on M&A activity. The higher the indices go, the less deal activity may occur because of an unfavorable environment for financing. That's all for now - Thank you for listening. For more information on this topic please visit the corporate services center. Tags: Thomson Financial Corporate Advisory Services Strategic Research Investor Relations Credit Default Swaps Jeff Block |
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Chronic Fatigue Syndrome Advisory Committee Testimony This is my personal testimony before the Chronic Fatigue Syndrome Advisory Committee (CFSAC) in May 2008. It is a chartered committee that meets twice yearly, and provides recommendations to the Secretary of Health within the Department of Health and Human Services (DHHS). The committee consists of clinicians who specialize in the treatment of Chronic Fatigue Syndrome (CFS), often times referred to as Chronic Fatigue and Immune Dysfunction Syndrome (CFIDS), members of the CDC, the NIH, the SSA, and other federal government entities. I've been hesitant to post the clip because I was nervous, and feel I could have done a better job on my delivery, however I think the message is worth disseminating. In addition, "my story" is quite personal, but my intent was to garner the attention of the committee members, and try to put a young, male face to CFS. Tags: CFS Chronic Fatigue Syndrome ME/CFS CFIDS Association of America Fibromyalgia |
User: ThomsonFinancial |
Corporate Advisory Insight: Quadruple Witching Hallie Elsner of Thomson Financial's Corporate Services Group discusses Quadruple Witching and its effect on issuers and investors. Transcript:Hi, I'm Hallie Elsner with Thomson Financial and this is Corporate Advisory Insights. Today I will be talking about the market phenomenon known as Quadruple Witching. Investors and issuers alike will be interested in what this is and the effect is has on them. In short, quadruple witching is when four independent derivative expirations occur nearly simultaneously, which results in increased volume as well as market volatility. With the increases in "fast money" players and asset allocation more frequently including alternative investments and complex strategies, activity on these days has become increasingly important. For investors, quadruple witching offers opportunities and presents risk, and for corporations, the event raises many questions such as what is happening to my stock? On the third Friday of March, June, September and December at market open, S&P 500 Index Options and Futures expire. At the close on these same days, other index and equity options expire, as do single stock futures. To review, the four "legs" of quadruple witching are: Equity Options Index Options Index Futures and Single stock Futures The trading activity around specific stocks will differ depending upon which indices it is included, but in general, here is what we can expect on these volatile days: At both market open and close, traders will be seeking to un-wind options positions which remain open. In doing so, large block trades at open and close will occur. These blocks represent an amalgamation of orders associated with the unwinding of positions linked to the expirations, and not standard institutional activity. This means that despite above normal trading volumes, significant changes in the ownership of the corporation are not likely to occur. Furthermore, the volatility associated with the expirations is a temporary phenomenon with almost no effect on the long-term trend, price and valuation of the stock. From a company's point of view, it would be important to understand that this activity is mostly quantitative and arbitrage-related, not a fundamental buy or sell decision. As this activity falls outside of the standard institutional universe, it can't really be influenced by the investor relations process. Despite the distance between the IR process and this activity, it is important to understand quadruple witching as the trades on these days are typically outside the normal trading pattern and may prompt questions. Thanks for watching. Tags: Thomson Financial Corporate Services Advisory Insight Quadruple Witching Hallie Elsner |
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Wind advisory at the Chesapeake Bay Bridge Tunnel Wind advisory at the Chesapeake Bay Bridge Tunnel Tags: WAVY Video Content Wind advisory at the Chesapeake Bay Bridge Tunnel |
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Corporate Advisory Insight: Short Selling Hallie Elsner from Thomson Financial's Corporate Advisory Services group discusses short selling. Transcript: Every two weeks, the major North American markets report short interest figures on publicly traded companies, but what exactly is short interest, how do investors sell short, and why does it matter? I'm Hallie Elsner and on today's Corporate Advisory Insight, we'll delve into the investment practice known as short selling. First things first, what is short selling? Traders who sell securities "short" are essentially borrowing shares from institutional investors or brokerage houses that currently hold positions in the particular security and subsequently sell them in the open market. At some point, the short seller must then cover the loaned shares by repurchasing and returning them to the lending institution. The short interest is the number of shares that have not yet been repurchased for return to lenders, which is the number that is published on a bi-weekly basis. Another important aspect to a short position in a security is known as the "short interest ratio," which is the number of trading days of average volume that would be required to close out the short positions through share repurchases in the open market. An interesting phenomenon associated with shorting occurs when market participants target securities with high short interest ratios by rapidly accumulating the shares at ever-higher prices, forcing the shorters to cover their positions at significant losses. As the shorts scramble for shares to cover their loans, the incremental buying exacerbates the price move upwards and causes a "short squeeze". Now, why do investors sell short? Short-sellers have many different motives for their activity and various objectives as to how they hope their particular short position will reward them with a positive investment return. The most basic of short selling strategies occurs when traders sell borrowed shares of companies that they perceive as being over-valued in the marketplace, betting that they will then be able to repurchase those shares in the future at a lower price. In this case, traders are indicating a negative view on the valuation of the company in light of future prospects. Traders may also short-sell shares as part of a long/short strategy with two or more companies involved in a merger/acquisition (deal arbitrage) or an equity carve-out situation (sum-of-the-parts arbitrage). In deal arbitrage, the strategy is to go long the target company and short the acquiring company, when the deal is a stock-for-stock transaction. In an equity carve-out situation, where a parent company owns typically 80% of one or more public traded subsidiaries,, the strategy is to go short the subsidiary company stock(s) and long the parent. Now that we know how and why investors short; is this data significant and what does it mean to a company? In general, analysts are split about the significance of this data. An overall increase in short interest is considered by some to be a bearish indicator, since more investors are betting on a downturn in stock prices. But many contrarian investors consider a significant increase in short interest for a particular stock to be a buy signal, since short sales eventually must be covered. One needs to study short interest over a long period of time and investigate periods of unusual activity to gauge the prevailing market sentiment. I'm Hallie Elsner, thanks for watching. Tags: Thomson Financial Corporate Advisory Services Strategic Research Investor Relations Hallie Elsner Short Selling |
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Corporate Advisory Insight: Quarterly Filings The Corporate Advisory Services group of Thomson Financial discusses 13F Filings Transcript: Hi. I'm Mike Tamas from Thomson Financial Corporate Advisory Services. As we approach the 45th day since the end of the most recent calendar quarter, many institutional investors are filing with the SEC to disclose their investments as of the end of the quarter. Being experts in institutional ownership, we thought it would be helpful to go through the specifics of these quarterly filings. While exceptions exist, the majority of institutions will disclose their holdings under normal circumstances as I will describe in a moment. Under SEC regulation, many institutions are required to publicly disclose holdings if they wish to continue to invest in these securities and market their services to the investing public. In general, Institutional investment managers who exercise investment discretion over $100 million or more in Section 13(f) securities must report their holdings on Form 13F with the SEC. Mutual Funds are also required to file separately for their holdings. Form 13F includes the names of institutional investment managers, as well as the names, class, CUSIP, the number of shares owned, and the total market value of each security. Institutions file for publicly listed equity securities and may disclose ownership in other security classes. The SEC allows institutions 45 days after the end of a quarter to disclose positions, and filers utilize the entire period in an effort to maintain confidentiality for the longest period possible. Some institutions even apply for exemption, or the right to delay their filings. While it is rare that the SEC allows this, exemptions do exist, for example, to prevent the piggy backing or dumping of shares to follow a particular investor. These filings are available at the SEC's website. In addition, Thomson Financial is a major provider of such data engaging in an additional step to help corporations better understand who is making investment decisions. Some investment firms are "conglomerates" of investment managers and file for holdings in aggregate, making it difficult to ascertain who has authority over the shares. Thomson Financial analyzes this data to help its corporate clients understand more specifically who is making the decisions. 13F data is important as it provides historical snapshots of institutions that own shares of a corporation. For those in the practice of Investor Relations or management of the company, this can help identify the stakeholders. The filings help to determine new holders, existing holders that have increased positions, as well as those which have reduced or liquidated positions. A 13F filing may be the first time a corporation has heard of an investor, or it may be to confirm the level of ownership that an investor maintains. This information can be used to maintain existing relationships with a corporation's shareholders and also aid in efforts to attract institutions that are not currently investors. That covers 13Fs under most circumstances. Stay tuned for more on SEC filings, including 13Ds and 13Gs, which are required by the SEC when a firm crosses above and/or below ownership of 5% of a company's shares outstanding. Once again, I'm Mike Tamas from Thomson Financial's Corporate Advisory Services, thanks for watching. Tags: Thomson Financial Corporate Advisory Services Insight SEC Filing Investor Relations13F |
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Corporate Advisory Insight: 144As Arzu Cevik from Thomson Reuters' Corporate Advisory Services group discusses the world of 144As. Transcript: The 144A Revolution Hello, I'm Arzu Cevik and welcome to this week's strategic research presentation, dedicated to the world of 144As......... Raising capital has become a major challenge for many companies but the 144A market remains a major lifeline between the U.S. capital market and issuers around the world. Non-U.S. companies can also trade in this market via Global Depository Receipts (GDRs). Rule 144A was adopted by the SEC in order to increase the efficiency and liquidity of the U.S. market for securities listed in private placements. There are a number of key features. Once placed with eligible investors, they cannot be sold in the U.S, public market for at least 2 years. 144A securities can only be bought by Qualified Institutional Buyers (QIBs) who do not need to register their shares. Each QIB must have at least $100m in assets under management and Finally, Each 144A security must have no more than 500 QIBs as shareholders. As for the benefits, when it comes to raising capital, the 144A market is both faster and cheaper compared to U.S. public markets. While an IPO can take around 25 weeks to complete, a 144A listing can be accomplished in just 10 weeks. Meanwhile, companies like to use the 144A market as a stock valuation tool before embarking on an Initial Public Offering. The other key benefit is the ability to trade without being subject to Sarbanes-Oxley and SEC disclosure and regulation. In today's environment, many observers have indicated that the cost burden has now overshadowed the financial benefits of regulation. Our analysis of the non-U.S. component of the 144A market over the last five years suggests that- •The total value of equity raised has more than doubled to $5.5bn in 2007 from $2.3bn in 2003 (with $11.7bn raised in 2006). •On a regional level, GDRs from Central & Eastern Europe (mostly Russian) dominated activity (68%) in 2007. Over a five year period, North Asia had the highest average (48%). •Over the years, there has been a shift in demand from North Asia (mostly from Korea & Taiwan) to Central & Eastern Europe. •Sector analysis suggests that in 2007, the real estate sector dominated activity (31%), followed by banks (30%). Over a five year period, TMT had the highest average (21%). closely followed by banks (16%). The 144A market is undoubtedly growing in popularity. This can be attributed to onerous Sarbanes-Oxley legislation, resulting in higher regulatory costs and litigation risk for those companies who wish to raise capital from the U.S. public market. Consequently, the number of foreign company delistings has more than doubled from 12 in 1997 (representing just 3.9% of all foreign listed companies) to 30 in 2006 (6.6% of all foreign listed companies). Finally, confidence in the 144A market has been expressed by the major underwriters who have addressed the issue of insufficient pricing and liquidity fragmentation with the development of their own trading systems. Furthermore, there has been consolidation between NASDAQ and 12 investment banks under a "Portal Alliance" umbrella, with the goal of developing an industry standard facility in order to serve the market for 144A securities. For more information about 144As, please contact your CAS representative. Thanks and have a great day. Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations |
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Beet Advisory: Better Get the Big Monster Video iPod Beet Advisory: Better Get the Big Monster Video iPod: Massive Library of Videos Now Downloadable and Free and Ad Free from CNET CNET has been at the forefront of technology television since the company was formed over 10 years ago. Over the past few years, it has amassed a huge video clip library of news, product reviews, interviews and "how to's". All this video content was launched recently in a nifty portal called CNETTV.com. What has just happened is that most of the content has become downloadable as a M4V file meaning you can save any of these clips to you PC or iPod. OK, we think that this is very significant development in the distribution of online video by an established media company. I don't believe there are any big companies providing free downloads of original material. Am I right? Plus, while the clips you watch on CNETTV have ads, there are no ads on the downloaded files. What's happening here? I spoke with CNETTV executive Editor Molly Wood who calls the freebie clips "ambassador" content. Plus, she explains, that while ads could be attached to a download, they can't be updated or changed, so best to make it all ad-free. Also there is a very cool RSS functionality to get feeds to your iTunes of reviews of particular products or brands. Awesome. Molly gives us the demo. See this video on Beet.TV: http://www.beet.tv/2006/11/beet_advisory_b.html Tags: Online Video iPod CNET Molly Wood CNETTV.com Beet.TV |
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Future of Private Banking - financial advisory wealth ... 12 future of private banking http://www.globalchange.com Future of private banking and wealth management for ultra high net worth individuals. Fund management, asset creation and fund growth. Portfolio management and managing risk in balanced distribution of assets. High rates of return. Succession planning and how to run family offices. Specialist wealth advisors and independent financial advisors, commissions and fee-based advice. Philanthropy and philanthropic advisory services. Why charitable activities are so important to high net worth families and why most want their own charity foundations. Making a difference, proving added value and real social impact, Applying business principles and measurable outcomes to philanthropy. Venture philanthropy and social entrepreneurs. Making philanthropy work in a disciplined way with formal evaluation and monitoring. Financial disciplines and specialist advisory teams. Video by keynote conference speaker Dr Patrick Dixon, Futurist and author of 12 books on global trends including Futurewise and Building a Better Business. Private banking, investment banking, wealth management, portfolio, balanced, philanthropy, charitable foundation, social action, advisory services, independent financial, planning, financial, finances, banks, investors, funds, fund managers Tags: Private banking investment wealth management portfolio balanced philanthropy charitable foundation social action |
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Corporate Advisory Insight: Catalysts Around ASCO Eklavya Saraf from Thomson Reuters' Corporate Advisory Services group discusses catalysts around ASCO. Transcript: ASCO abstracts were released on the organizations website over a week ago, but much of the data appeared to be placeholders with undisclosed efficacy and old data. Key studies including FLEX and AVADO will be latebreaker presentations during the actual conference, held in Chicago from May 30th to June 3rd. Investors will be waiting for key data from Imclone's Erbitux FLEX trial (Erbitux + chemo in 1st line NSCLC) to be released on June 1st and CAIRO2 (Erbitux + Avastin + chemo in 1st line colorectal cancer, to be released on May 31st. For Genentech, investors will be watching for data from the AVADO study for breast cancer as well as the Recentin-Avastin head-to-head trial in colon cancer. Phase II data from the BRAIN study in patients with GBM was positive enough to file upon. As far as data already released, investors were most impressed with Celgene's Revlimid data in combo with Velcade in front line myeloma. Onyxx released liver cancer data from the Asia Pacific trial showing median survival of 6.2 months vs. 11 months shown in the SHARP study. Its competitor, Sutent had a median survival of 10 months. Lastly, investors will also watch for data that may result in positive bottom lines for a number of companies including Cougar's Abiraterone data in hormone refractory prostate cancer and Synta's Phase II elesclomol in melanoma. Please contact your Thomson-Reuters analyst for additional insight around the ASCO conference. Thank you. Tags: Thomson Reuters Financial Corporate Advisory Services Strategic Research Investor Relations |
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Advisory on Benzocaine Sprays and Methemoglobinemia FDA recently issued a Public Health Advisory to remind health care professionals that the overuse of benzocaine anesthetic sprays can cause methemoglobinemia, a potentially life-threatening condition that can result in cyanosis, confusion, hemodynamic instability and coma. Benzocaine sprays, including those sold under the brand names Hurricaine, Topex and Cetacaine, are used to anesthetize the mucous membranes of the mouth and throat when preparing patients for minor surgery, endoscopic procedures and endotracheal intubation. Methemoglobinemia is a known side-effect when benzocaine sprays are used, but the risk can increase when practitioners use multiple sprays or sprays of longer duration than recommended. FDA is reviewing the safety data for these products to determine if additional action is needed. FDA recommends the following actions to help minimize the risk: • Use only the minimum amount of benzocaine spray to produce the required anesthetic effect. • Carefully observe patients treated with benzocaine sprays for signs of methemoglobinemia. These include headache, lightheadedness, shortness of breath, anxiety, fatigue, pale, gray or blue colored skin, and tachycardia. Blood that's chocolate-brown in color is a late sign of life- threatening levels of methemoglobinemia. • Promptly treat patients suspected of having high levels of methemoglobin. Supplemental oxygen alone is not effective. The only known treatment is intravenous administration of methylene blue. • Do not rely on commonly available 2-wavelength pulse oximetry to detect hypoxia because it may be unreliable in cases of methemoglobinemia. Analyze blood samples with a co-oximeter instead. • Infants less than 4 months of age and patients with certain hemoglobin and enzyme abnormalities are at increased risk for developing toxic levels of methemoglobin. Patients who have breathing problems such as asthma, bronchitis, or emphysema, patients with heart disease, and patients who smoke are at greater risk for complications related to methemoglobinemia. All of these patients would likely benefit from either the use of topical anesthetics that do not contain benzocaine or other forms of therapy. Tags: Benzocaine Spray Methemoglobinemia FDA Cyanosis Confusion Hemodynamic Instability Coma Hurricaine Topex Cetacaine |
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"advisory committee" cover (mirah) mirah this song is harder than it looks to play i found. so i may have loused it up a bit. anywayyyy http://www.myspace.com/glorywinds http://www.oddballrolling.com Tags: mirah advisory committee indie records oddball patty chung cover |