Business

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30
Dec 08

Get Rich or Die Tryin’

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As usual I opened Firefox this morning and clicked my Google Reader, Oh! “The Six Best Ways to Get Rich…” from Lifehack. I added an star and read the article. Well I want to share it with you:

http://www.lifehack.org/articles/money/the-six-best-ways-to-get-rich.html

Most people have an obsession with wealth. Politicians promise to create it, most popular magazines are filled with gossip about those who have it, and the average person spends much of their adult life trying to obtain it. We are creatures obsessed with money, partly for what it can buy, but also as a thing of value in itself.

But most people misunderstand money. They don’t really know how to obtain it, or how to hold onto it once they have it.

Money is an instrument and “allows” us to do “things”. For this new year, I wish every one to get focused, set goals that bring both, money and personal achievement.

Happy holidays and a wealthy happy new year.

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2
Oct 08

3 Questions The Government Doesn’t Want You To Ask About the Financial Crisis

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(And 3 Shocking Answers!)

September 22, 2008

Bob Prechter, President of Elliott Wave International (EWI), is no stranger to challenging the status quo. His New York Times bestseller, Conquer the Crash, was published in 2002 before anyone was even talking about the current financial crisis.

In his recent 10-page market letter, Prechter shifts his focus to the government’s role in the latest financial turmoil.

Elliott Wave International is offering the full 10-page report free if you’d like to read all 28 answers. Visit EWI to download the full report, free.

Here are 3 questions excerpted from the free report:

1. Didn’t Congress create the Federal Housing Authority, Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Banks for the purpose of helping the public buy homes?

You’re kidding, right? What happened is that clever businessmen schemed with members of Congress to create privileged lending institutions so they could get rich off the public’s labor. In return, members of Congress got big campaign contributions from the privileged corporations and, as a bonus, even more votes. The public’s welfare had nothing to do with it.

Who celebrated when Congress passed the latest housing bill? Answer: “The California Mortgage Bankers Association applauded Congress for permanently increasing the size of loans Fannie Mae and Freddie Mac can buy….” (USA, 7/28) The legislation exists to “protect the nation’s two largest mortgage companies….” (NYT, 7/24) Who took out full-page ads to encourage Congress to “enact housing stimulus legislation now”? Answer: the National Association of Home Builders. Who celebrated when the administration “unveiled a new set of best [sic] practices designed to encourage banks to issue a debt instrument known as a covered bond”? Answer: “[Treasury Secretary] Paulson was joined at the news conference by officials from the Federal Reserve [and] the Federal Deposit Insurance Corporation…. Officials from banking giants Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. issued a joint statement saying, ‘We look forward to being leading issuers’” (AP, 7/29) of covered bonds. And voters still believe that Congress is there to help the needy.

2. Who cares if a bank goes under? Won’t the FDIC protect depositors?

The FDIC is not funded well enough to bail out even a handful of the biggest banks in America. It has enough money to pay depositors of about three big banks. After that, it’s broke. But here is the real irony: The FDIC, as history will ultimately demonstrate, causes banks to fail. The FDIC creates destruction three ways. First, its very existence encourages banks to take lending risks that they would never otherwise contemplate, while it simultaneously removes depositors’ incentives to keep their bankers prudent. This double influence produces an unsound banking system. We have reached that point today. Second, the FDIC imposes costly rules on banks. In July, it “implemented a new rule…requiring the 159 [largest] banks to keep records that will give quick access to customer information.” As the American Bankers Association puts it, the new rule “will impose a lot of burden on a lot of banks for no reason.” (AJC, 7/19) Third, the FDIC gets its money in the form of “premiums” from—guess whom?—healthy banks! So as weak banks go under, the FDIC can wring more money from still-solvent banks. If it begins calling in money during a systemic credit implosion, marginal banks will go under, requiring more money for the FDIC, which will have to take more money from banks, breaking more marginal banks, etc. The FDIC could continue this behavior until all banks are bust, but it will more likely give up and renege. Remember, every government program ultimately brings about the opposite of the stated goal, and the FDIC is no exception.

3. Who are the “homeowners”?

Everywhere you turn, news articles are discussing how Congress, the President and the Fed are taking action to “help homeowners.” People’s understanding of this statement is 100 percent wrong. The homeowners in question are not the residents of the houses. The homeowners are banks. Unlike some states, Georgia made its law very specific on this point. Our local paper recently explained that, by recognizing the reality of ownership, “Georgia employs primarily a nonjudicial foreclosure” and therefore “has one of the fastest procedures in the country.” Specifically, “The property owner gives the mortgage holder a ‘security deed’ or a ‘deed to secure debt’. Technically, until the debt is paid, in full, the mortgage holder owns the property and allows the borrower to possess it.” (GT, 8/6) In states where the mortgage holder is deemed the property owner, the title is merely a legal technicality. The day he stops making mortgage payments, he no longer owns the property; the bank does. After foreclosure, many of those whom politicians and the media call homeowners will simply go from paying interest to a bank to paying rent to a landlord. For those with little or no equity, it’s not that big a deal. The real devastation is happening in banks’ portfolios, and banks, not home-dwellers, are the ones whom the government is trying to rescue, at others’ expense.

One might be tempted to charge therefore that Congress makes its laws for the purpose of helping banks. This idea, too, is incorrect. Helping banks is merely a side effect. The reason that Congress creates privileges for bankers is to benefit politicians. They make laws in response to campaign contributions from lending institutions, real-estate organizations and builders’ associations. They also garner votes from mortgage holders and, miraculously, from voters who think that their “representatives” are being “compassionate.”

The previous 3 questions and answers from Bob Prechter were excerpted from his recent 10-page market letter, The Elliott Wave Theorist.

Elliott Wave International is offering the full 10-page report free if you’d like to read all 28 answers. Visit EWI to download the full report, free.

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25
Sep 08

Financial crisis…

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This crisis may affect all US dependant economies, I will try to stay tuned to what’s going on.

President Bush explains big bailout as high-stakes debate heats up

NEW YORK (CNNMoney.com) — President Bush used a prime-time TV address on Wednesday night to press his case for a $700 billion bailout of the nation’s shaky financial system.

Bush’s proposal – to allow the Treasury to buy troubled assets threatening the health of financial institutions – aims to restore confidence to the credit markets.

In the past week, short-term borrowing that businesses rely on to make payroll and cover other operating expenses has shown signs of freezing. Further problems in the credit markets could cause the U.S. economy to seize up – threatening Wall Street and Main Street alike with a loss of jobs and a severe economic downturn.

“We are in the midst of a serious financial crisis,” Bush said. “Our entire economy is in danger.”

Read More:

http://money.cnn.com/2008/09/24/news/economy/bush_address_financialcrisis/index.htm

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25
Sep 08

Economic Crisis

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Economic data released yesterday:
Existing Home Sales: U.S. August Existing Home Sales were lower by 2.2% to 4.91 Million rate; U.S. August Existing Home Sales Consensus 4.95 Million rate; U.S. Inventory Of Unsold August Homes at 10.4 Months Supply; U.S. August Median Existing Home Price fell 9.5% on the year to $203,100.

Hot Stock picks on the move today for day trading:
Massey Energy Company (NYSE: MEE) had a trading range on the session of five points. Massey provided a fairly appealing long position shortly after the opening bell. Into mid-day, Massey reversed and moved lower, playing into the hands of short-sellers hungry for a short position to trade. At the closing bell, Massey was in the red zone by just over a quarter of a point.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) loss of 29.00 points on the day to end the trading session at 10,825.17
NYSE (New York Stock Exchange) loss of 16.45 points to end the trading session at 7,768.82
NASDAQ gain of 2.35 points to end the trading session at 2,155.68
S&P 500 loss of 2.35 points to end the trading session at 1,185.87
FTSE All-World excluding U.S. loss of 0.83 points to end the trading session at 202.83
FTSE RAFI 1000 loss of 25.86 points to end the trading session at 4,714.07
BEL 20 (BEL20) loss of 26.76 points to end the trading session at 2,866.17
CAC 40 (CAC40) loss of 25.28 points to end the trading session at 4,114.54
FTSE100 (UKX100) loss of 40.55 points to end the trading session at 5,095.57
NIKKEI 225 (NIK/O) gain of 24.44 points to end the trading session at 12,115.03

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,289; declined stock prices 1,904; unchanged stock prices 71; stock prices hitting new highs 9 and stock prices hitting new lows 130.
NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 7.95 points on the trading session, high on the trading session $133.70, low on the trading session $126.02 with a closing stock price at $133.00; Wells Fargo & Company (NYSE: WFC) stock price gained 0.10 points on the trading session, high on the trading session $35.75, low on the trading session $34.08 with a closing stock price at $34.27; Worthington Industries Incorporated (NYSE: WOR) stock price gained 0.53 points on the trading session, high on the trading session $17.74, low on the trading session $16.72 with a closing stock price at $17.11; Textron Incorporated (NYSE: TXT) stock price shed 1.41 points on the trading session, high on the trading session $34.11, low on the trading session $31.85 with a closing stock price at $32.55; Cleveland-Cliffs Incorporated (NYSE: CLF) stock price shed 2.44 points on the trading session, high on the trading session $73.85, low on the trading session $68.00 with a closing stock price at $69.39; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 1.52 points on the trading session, high on the trading session $170.40, low on the trading session $160.86 with a closing stock price at $162.59; Transocean Incorporated (NYSE: RIG) stock price gained 2.62 points on the trading session, high on the trading session $126.06, low on the trading session $122.37 with a closing stock price at $124.49; State Street Corporation (NYSE: STT) stock price shed 0.93 points on the trading session, high on the trading session $55.89, low on the trading session $49.82 with a closing stock price at $53.10; General Dynamics Corporation (NYSE: GD) stock price shed 2.18 points on the trading session, high on the trading session $79.80, low on the trading session $76.75 with a closing stock price at $77.73; Pilgrim’s Pride Corporation (NYSE: PPC) stock price shed 3.90 points on the trading session, high on the trading session $10.60, low on the trading session $6.06 with a closing stock price at $6.36; SPX Corporation (NYSE: SPW) stock price shed 4.70 points on the trading session, high on the trading session $92.55, low on the trading session $85.69 with a closing stock price at $86.79.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 984; declined stock prices 1,883; unchanged stock prices 147; stock prices hitting new highs 10; stock prices hitting new lows 123.
NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Sequenom Incorporated (NasdaqGS: SQNM) stock price gained 7.00 points on the trading session, high on the trading session $28.29, low on the trading session $23.95 with a closing stock price at $27.56; Energy Conversion Devices Incorporated (NasdaqGS: ENER) stock price gained 7.28 points on the trading session, high on the trading session $66.30, low on the trading session $62.13 with a closing stock price at $63.74; Sonic Corporation (NasdaqGS: SONC) stock price shed 0.50 points on the trading session, high on the trading session $16.00, low on the trading session $14.74 with a closing stock price at $15.43; James River Coal Company (NasdaqGS: JRCC) stock price shed 4.67 points on the trading session, high on the trading session $31.34, low on the trading session $27.12 with a closing stock price at $28.59; SunPower Corporation (NasdaqGS: SPWR) stock price gained 5.49 points on the trading session, high on the trading session $98.60, low on the trading session $92.49 with a closing stock price at $93.00; First Solar Incorporated (NasdaqGS: FSLR) stock price gained 10.91 points on the trading session, high on the trading session $229.56, low on the trading session $218.02 with a closing stock price at $221.80.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 420; declined stock prices 732; unchanged stock prices 72; stock prices hitting new highs 3; stock prices hitting new lows 68.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 1,192.00 change -1.00
E-mini NASDAQ-100 (NQ) end of day price 1,671.25, change -0.75
E-mini S&P SmallCap 600 (SMP) end of day price 370.50, change 0.0
$5 DJIA (YM) end of day price 10,855 change -5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6843 to U.S. Dollars 1.4614
Japanese Yen 106.190 to U.S. Dollars 0.0094
British Pound 0.5416 to U.S. Dollars 1.8464
Canadian Dollar 1.0385 to U.S. Dollars 0.9629
Swiss Franc 1.0914 to U.S. Dollars 0.9163

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $0.88 on the day for a closing price of $105.73 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained $0.01 on the day for a closing price of $3.03 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.24 on the day for a closing price of $7.91 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.00 on the day for a closing price of $2.59 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained $3.80 on the day for a closing price of $895.00 ($US per Troy ounce)
Silver (COMEX: CMX) gained $0.27 on the day for a closing price of $13.44 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained $13.00 on the day for a closing price of $1,225.00 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.05 on the day for a closing price of $3.11 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.50 on the day for a closing price of 68.95
Pork Bellies (Chicago Mercantile Exchange: CME) gained 3.00 on the day for a closing price of 98.00
Live Cattle (Chicago Mercantile Exchange: CME) gained 0.75 on the day for a closing price of 104.20
Feeder Cattle (Chicago Mercantile Exchange: CME) gained 1.50 on the day for a closing price of 107.45

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 2.75 on the day for a closing price of 563.00
Soybeans (Chicago Board of Trade: CBT) had no change on the day for a closing price of 1,190.50

Bond Market:
2 year bond gained 7/32 on the day for a closing price of 100 25/32 with a Yield of 1.94, Yield Change -0.13
5 year bond gained 18/32 on the day for a closing price of 101 with a Yield of 2.90, Yield Change -0.12
10 year bond had no change on the day for a closing price of 101 17/32 with a Yield of 3.80, Yield Change 0.00
30 year bond shed 12/32 on the day for a closing price of 101 15/32 with a Yield of 4.41, Yield Change +0.03

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18
Sep 08

Discover the Top 100 Safest U.S. Banks

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2814-AB-Aff-Bank Most of us think the term “deposits” mean funds that you deliver to the bank for safekeeping, but for nearly 200 years, the courts have sanctioned an interpretation of the term “deposits” to mean a loan to your bank.

Combine that fact with the latest headlines you’re reading about big name banks needing bailouts and you have a rude awakening of just how unsafe your bank may be.

Get expert, informed, and independent information on what you can do to protect your money, right now.

Elliott Wave International, the world’s largest market forecasting firm, has just released a free report, Discover the Top 100 Safest U.S. Banks.

The free report will show you:

  • The Top 100 Safest U.S. banks (two for each state)
  • How you can choose a safe bank.
  • Five incredibly risky banking conditions.
  • How even the FDIC can’t really guarantee your money.
  • Tips on international safe banking.

Stop worrying about your money and get expert information on what you can do to protect it.

Click Here to Access Your Free Report – Discover the Top 100 Safest U.S. Banks

Business — 7 Comments
18
Sep 08

Tricom es comprada por movistar/telefónica

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tricom

image

Pero tiene problemas de acceso…

Warning: mysql_connect() [function.mysql-connect]: Access denied for user ‘tricomsql’@'localhost’ (using password: YES) in /vweb/tricom.net/funciones.php on line 6

Access denied for user ‘tricomsql’@'localhost’ (using password: YES)

Además de los usuales problemas de acentos en su página.

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4
Sep 08

Internet Traffic Grows 53 Percent From Mid-2007

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NEW YORK – International Internet traffic kept growing in the last year, but at a slower rate than before, and carriers more than kept pace by adding more capacity, a research firm said Wednesday.

The findings by TeleGeography Research are important because some U.S. Internet service providers say they are struggling with the expansion of online traffic, and are imposing monthly download limits on heavy users. The figures from TeleGeography don’t exactly correlate to average Internet usage by U.S. households, but give an indication of wider trends.

TeleGeography said traffic grew 53 percent from mid-2007 to mid-2008, down from a growth rate of 61 percent in the previous 12 months.

Growth on long-haul lines in the U.S. was even slower, at 47 percent. The big increase came in regions where the Internet is less mature. Traffic between the U.S. and Latin America more than doubled.

Meanwhile, international Internet capacity on ocean-spanning optical fibers increased 62 percent. On average, Internet traffic now uses just 29 percent of the available bandwidth.

TeleGeography research director Alan Mauldin noted that the number of new broadband subscribers has been falling since 2001, but that the overall increase in Internet traffic remains high because of the increasing demand for online video.

A service of the Associated Press(AP)

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28
Jun 08

5 Things You May Not Know About Bill Gates

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dd210gates Yesterday June 27, 2008 Gates stepped down from his top job at Microsoft to turn his attention to running his foundation, these are 5 things we should know about Bill an American business magnate and philanthropist.

From an interview in The Big Idea with Donny Deutsch

1.  HE DOESN’T WANT TO BE THE RICHEST PERSON IN THE WORLD. I said to him, “You’re a competitive person, would it ever upset you if you weren’t the richest guy in the world?” And Gates’ responded,  “I wish I wasn’t, there’s nothing good that comes out of that,” he said. “You get more visibility as a result of it.”

2. HE’LL NEVER RUN FOR OFFICE. When I asked Gates if he would follow in the footsteps of other wealthy Americans who have entered into the political arena, Gates told me, “I certainly will never be a politician”. When I pressed him and asked why he replied, “For every reason. I wouldn’t like it, I wouldn’t be elected. I’m better at what I’m doing.”

3.  HE DOESN’T CARRY A WALLET. I asked him, “What did you carry around in your wallet…. how much cash are we talking here?” to which he replied, “I don’t carry a wallet around that often”.  I guess when you’re that rich you don’t have to!

4.  HE DOESN’T HAVE AN iPOD. Ok duh, this was a given but I had to ask just to hear what his response would be.  “I don’t have an iPod. I think a phone is a nice portable device to have one’s music on…and I think some other people may do that in the future too, we’ll see.” he said.

5.  HE LOVES GOING TO THE MOVIES. I asked him, “Is it tough for you go to a soccer game with your kids or to just go to the movies?”   He told me, “No, the movies are great – they turn the lights out!”  “I’m not bothered when I’m out in public or anything,” he said. “Somebody might ask for a signature, rarely, but that’s not a difficult thing.”

Business — No Comments
26
Jun 08

Bob Parsons 16 Rules for Success in Business and Life in General

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Here the Bob Parsons 16 Rules for Success in Business and Life in General, for those who don’t know this guy, he is the CEO and founder of GoDaddy.com, he credits this rules for propelling him from humble youth to his role today as CEO and founder of his company.

1. Get and stay out of your comfort zone.
2. Never give up.
3. When you are ready to quit, you’re closer than you think.
4. Accept the worst possible outcome.
5. Focus on what you want to have happen.
6. Take things a day at a time.
7. Always be moving forward.
8. Be quick to decide.
9. Measure everything of significance.
10. Anything that is not managed will deteriorate.
11. Pay attention to your competitors, but pay more attention to what you’re doing.
12. Never let anybody push you around.
13. Never expect life to be fair.
14. Solve your own problems.
15. Don’t take yourself too seriously.
16. There’s always a reason to smile.

[Read more]