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Nice socials, where are the financials?
BEIJING, May 1 (Xinhua) -- The 2010 Shanghai World Expo opened on Friday night, attracting the attention of the world and international participation and earning heartfelt congratulations.
Some 20 world leaders attended the opening ceremony and toured the Expo, including French President Nicolas Sarkozy and South Korean President Lee Myung Bak.
Chinese President Hu Jintao met Prime Minister of the Netherlands Jan Peter Balkenende in Shanghai Saturday.
Balkenende spoke highly of the opening ceremony and fireworks and said he was impressed deeply by the China National Pavilion and Sichuan Pavilion he visited Saturday morning.
While meeting European Commission President Jose Manuel Barroso in Shanghai Saturday, President Hu thanked the EU for its participation in the Shanghai World Expo, the organization's first presence at a World Expo held outside the EU countries.
Barroso said the ceremony was a great event that showcased a modern China and a China that was much respected.
He also said the Expo would be conducive to a stronger common understanding between China and the EU.
Canadian Prime Minister Stephen Harper issued a statement Friday, saying he expected the Canada Pavilion would show Canada as a modern, democratic and pluralistic country.
"The Expo itself will provide us with an opportunity to build stronger economic, diplomatic and cultural ties with China as we showcase our country, our arts and culture, and our values," he said.
Expecting millions of visitors from around the world over the next six months, he said: "Let us seize this opportunity to promote our country and build closer ties with our trading partners."
Rafal Baniak, undersecretary of state in Poland's ministry of economy, said Saturday at a ceremony at the Shanghai Expo to open his country's pavilion that the Polish people wanted to give the world a better understanding of Poland's economic development through the Expo.
He added that Poland wished to foster closer economic ties with China.
Chairman and CEO of the U.S. Greater China Corporation, John W. Allen, told Xinhua in an email interview after the opening ceremony that "like the Beijing Olympics, the Shanghai Expo is bigger and better than any previous such event and will definitely set the standard for the future."
Allen echoed Chinese President Hu Jintao's remarks that the Expo was a "showcase of the best achievements of human civilization."
"It serves as a beacon for peace rather than a capacity for war," he said, "The Shanghai Expo will probably become an even hotter topic among Americans as China has once and again stunned the world by showcasing its might and skills of handling such big events."
In an interview with Xinhua, Milan's Mayor Letizia Moratti, whose city will host the next World Expo said: "Shanghai Expo will be a monumental exposition, with many magnificent buildings created by architects from all over the world."
"We have many things to learn from China's ability to quickly innovate, open to the world and adopt the best technologies," she said while extending her warm congratulations on the opening.
I'm more concerned about there being cash flow into the company so the company can file and open up trading. But trading won't make any current investor happy if the PPS does not hold or better yet move higher. Luckily this company is debt free and has 1mm preferred shares to use as collateral without the dreaded dilution.
19**Thanks Chief
CEO says there was an extension of two months.
"$4 million retainer by the end of March",
Dec 09
"Just in from GCC IR.. the Dragon Beach project in Vietnam has just received the OK for the Casino licenses."
Can you tell where this stands?
This will be GCC's year to make all its investors very happy.
Enjoy the holiday and watch for some exciting news next month.
Wouldn't it be nice if GCC could print money like the FED when in need. When the Pygmy, Palosi and the politicians get through with their agenda. I believe servitude will once again haunt the people of the US. The main reason the original people who founded us had for coming here.
I received a call from IR which brought to light something I did not know regarding the Dragon Beach project in Viet Nam. If the parties involved do not put up a $4 million retainer by the end of March. The ministry has the option to revoke the casino licenses. I think that the casino licenses are the core to the project and without them I cannot see this endeavor succeeding.
China continues to buy gold. My question is how long can this propping of the price via buying continue? The dollar is still the currency of the world. Now if this child, who is our current president, continues with his distorted uneducated policies. GCC will be able to use this period to merge with a Chinese entity producing much needed revenues.
My last post here until my monthly visit in March.
"...on the politics I agree...can't believe that dude mentioned lynching..."
It's a fact that the only people who hate Prez O more than those on the right (for him being too far left) are those on the left (for him being too far right).
He just has his strengths and faults like all the rest....wow, big surprise.
By any objective, demonstrable, provable, observable, fact-based, honest non-selective reading of history, he's relatively Centrist.
Left, right, conservative, liberal....these terms have become pretty meaningless anymore....they no longer fit or work.
If we don't start pulling together and compromising, and stop waiting for politicians to save us, then this nation is toast.
I'm no big fan of Prez O, but IMHO the fact that so many on the far Right and far Left hate him for opposite reasons says more about our society than about their President....
"...our entire Gov't has failed us in so many ways..."
Well, we elected them all the entire way the last 30 years.
In some case (GWB) less than 50% did so. It was what the law dictated, and we live with the outcomes and hopefully learn.
The politicians are us, or I should say whatever "Us" is at election time. The minority who isn't, has to grit their teeth and just protest wherever and however they can.
Winston Churchill was right: "Democracy is the worst form of government there is..........except for all the others."
In hindsight, now, we learn that "we the people" have elected all of those who promised, for 30 years, to buy our votes with cheap money, good times, and no pain or consequences.
I would say that we elected a bunch of Bozos....but that would be an insult to clowns.
DLTM
As for GCC - I am kind of glad I stopped getting BS for the IR. There is nothing left here for shareholders but broken promises and half-truths, if that...The notion that there are multi-million dollar deals at their finger tips but they can find the money to trade is absurd...defies all that is common sense...So silence is welcome as opposed to a continued stream of HS...
Man - on the politics I agree...can't believe that dude mentioned lynching. a hateful racist to boot...but on your view of the future I can only hope you are wrong...even though it seems very bleak as out entire Gov't has failed us in so many ways...
T...
"Never have I listened to a president with such an ego."
Yeah, right, uhhh, except for nearly all of the ones before him.
Truman and Eisenhower could be the exceptions in our lifetimes (mine, at least).
In this link is intellectual truth, as opposed to intellectual dishonesty.
Wisdom in place of indiscriminate rage.
Read it and GET IT, once and for all:
http://market-ticker.denninger.net/archives/1962-Partisan-Attacks-WILL-NOT-Solve-The-Problem.html
Immersing oneself in either ReTHUGlican intellectual dishonesty or DemocRAT naivite is not the answer.
ITA with your previous posts regarding the coming storm....well, I've been saying it here for years, but got laughed off the board for it.
Day of reckoning is approaching, was determined by economic policies over the last 30 years, and Prez O, or Prez McCain, or Prez Whoever....
...it was never going to make any difference
Our nation's economy was already DOA on January 20th, 2009.
Just more of the same Hail Mary passes and band-aids since then.
Anyone who says otherwise is just plain lying....and you know what I think of liars.
....this board, our rantings here, GCC, Dragon Beach, all of it will mean nothing very soon.
Last night's lecture from the current president is his swan song. This socialist demigod will hopefully be given a machete and sent to the cane fields of FL where he belongs. If Washington, Hamilton or Jefferson were alive there would be a lynching. Never have I listened to a president with such an ego. The federal government was not formed/given the right to run health, education, welfare, transportation, energy or climate issues. The communities, cities, counties and states handle these. The Fed might suggest or give guidelines but not be the director. All I ask for from the Fed government is to keep us safe and keep our money stable.
I called IR and asked how our GCHC is doing and the response was the same as prior discussions. No funds to move ahead with the SEC filings and no time line for re-listing. The Dragon Beach project, mentioned in their website, has received the go signal from the Vietnam ministry. The casinos will be built and the licenses to operate have been granted. A Nevada casino operator signed to build and operate the first two billion dollar casinos.
I just read an article on the negative affects of Tiger being out of action. I believe that how China acts in the coming months will determine how the US & the rest of the world will fair. Far too much dependence on one individual or entity may result in disaster.
Here is another snippet of why the market is starting to tremble and may soon plummet to levels not seen for decades. Keep your powder dry and IMHO move to cash.
" Chinese policy, over the past week or so is a tectonic shift that no market player should treat with a cavalier attitude. Marketwatch informs that: “The omission of a handful of words from statements by senior Chinese officials this week has fueled speculation that unofficial government policy has tilted towards tighter monetary conditions, a milestone that could have policy implications for years to come. A speech by Premier Wen Jiabao posted on the People's Bank of China' Web site on Tuesday left out the words "proactive fiscal policy and relatively loose monetary policy" when referring to China's macroeconomic policy.”
The bigger question is, lending curbs and other measures aside, will that country’s economic engine be able to provide enough torque to pull the whole global stump out of the muddy rut it finds itself in? Not according to Nouriel “Dr. Doom” Roubini, who, in a Marketwatch piece is attributed to have said that” “Expectations [that] China can buoy the global economy on its own will meet with disappointment, adding that a glut of worldwide industrial capacity threatens recovery from the financial crisis.”
This article may be of interest to some of you investors who falsely believe there is a bright future ahead. Although this topic does not affect GCHC directly, it does give a glimpse of the disaster that awaits the US & the world if the "dark knight" does not dump his current group of spenders.
"Mr. Paul Volcker. This is a man not to be taken lightly. His stellar career of sixty years included witnessing the collapse of the Bretton Woods Agreement, but his claim to fame arose out of his dogged fight against inflation.
This writer vividly recalls that when Mr. V was Fed Chairman, he annihilated US inflation rates, bringing them down to 1 percent from 15 percent, all by pushing the Fed Funds rate up to 20 percent. What the US got following his bold actions – was an environment sterilized of the inflation virus, and two decades of sub-5% inflation. Not to mention dynamic growth. All the while, the doomsayers were gearing up for Weimar-style hyperinflation, famine, and martial law in the USA. Sure thing. They are still calling for the same, today.
Well, Mr. Volcker is baaaack! “V” for vendetta, some say. Anti-inflation stance, and all. More importantly, he is back with the same vigilant attitude when it comes to big banks. Bloomberg reports that:
“Volcker was vindicated yesterday when Obama proposed limiting trading activities of financial institutions to prevent another crisis, adopting recommendations of the 82- year-old former Federal Reserve chairman. Obama called it the “Volcker Rule.”
“This represents somewhat of a shift from the positions of those in the administration in favor of deregulation,” said Joseph Stiglitz, a Nobel laureate and frequent critic of the administration. “Volcker has been pushing for this for a year, and it was one of my biggest disappointments that his idea wasn’t picked up by decision-makers until now.”
Re: coming financial meltdown and commercial real estate, truer words were never spoken...
Dubai was just the warmup act.
Re: dilution, it is impossible to dilute the value of GCHC below its current level of zero.
Half a loaf beats starving to death, as anyone who has would tell you, if they only could.
Here is another interesting article on China. The world financial sector is in dire straits and just wait till the commercial real estate market takes a hit in the coming months. The world is in for a real change and OB is not going to be the leader, he is just a pawn being advised by the perpetrators.
http://www.dailyfinance.com/story/global-economys-next-threat-chinas-real-estate-bubble/19302329/
There will always be critics but VERY few can offer the funds or solutions to affect change.
I sit on my investment like everyone else who owns GCHC shares, and that includes the CEO, COO and directors. The world of finance is not well and will get worse in my view. All I can do is hope this company gets the financing it needs to consummate the dozen or so deals it has on the table. Very easy for dilution to quicken this process but I don't see that as a just means to the end.
Once again, the window is closing and GCHC is on the wrong side of the window (i.e.. trapped inside a burning building of it own design).
Per ususal, GCC management is slow, out out time and out of touch with the financial markets worldwide. Which is why GCHC is still worth what is has been worth for years.....nothing.....
... with no visible, believeable prospects for changing that.
Another sweet spot in the long-term financial/liquidity/credit cycles is passing us by.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4G2wyRHUk5o&pos=4
Still trying to see where it says IPO...
I'm optimistic but you may be correct, based on the past.
"...the new year IPO a reality."
Uh,....No.
What is this? More talks with the Chinese people who will make the new year IPO a reality.
http://www.chineseculturalfoundation.org/gala_dinner_at_great.html
I just checked the web site and sure enough it has been changed.
http://www.greaterchinacorp.com
The web site will be updated before Friday so I'm anxious to see what has happened in the past few months. Dragon Beach project is huge and once this trades again I'm sure those in charge will have more news.
I just read this news from VN news source. This should be interesting since Dragon Beach developement is one of two projects that have been promised casino licenses once the PM ok's the idea. This conference is being held this week.
CASINOS IN THE CROSS-HAIRS
Casinos are one of the hot topics in real estate investment. This issue will be addressed by government officials at the event. For the benefit of the Vietnamese government, one or two presentations will cover the way other countries handle casinos, and the business models they use.
The government has piloted casino investment in some provinces and cities frequented by international tourists and foreign investors. Numerous applications from major international groups have been submitted to operate casinos in different cities and provinces. The first pilot casino project started in Do Son in 1992 but since then the business has been under tight control and restricted in many ways.
I agree. But once trading I also believe the pps will be mid dollar range or higher as the CEO likes money as much as we do.
until the trade the shares it really means little to the retail shareholder...pretty much the only thing that matters to me now...all other words ring hollow...
This deal has been signed and GCC will receive 5% for their services. Expect more news in the coming weeks, as IR says "the tide has turned" in GCC's favor.
Dragon Beach Project
Vietnam allows $4.15 Billion US investment in eco-tourism project
Oct 05, 2009
HANOI - Quang Nam province authorities have issued a license to allow two U.S. firms to invest $4.15 billion in an eco-tourism project, state media reported Monday, citing a provincial government source.
Tano Capital LLC and Global C&C Inc. plan to build the Dragon Beach project in the province, which is 800 kilometers south from Hanoi, said the Thoi Bao Kinh Te newspaper.
The project will cover 400 hectares and have sports facilities, hotels, commercial buildings and offices, it added.
The newspaper didn't says when the project will be built or when it is scheduled to start operating.
there is actually some rumblings from IR...been there done that...until the re-instate the shares it is all sunk costs...
Greater China Corporation
Corporate Headquarters
One Rockefeller Plaza, Suite 1010
New York, New York 10020
Tel: (212) 765-4547 Fax: (212) 218-4223
http://www.greaterchinacorp.com
GREATER CHINA CORPORATION
June 4, 2009
Dear Fellow Shareholders:
In recent weeks many GCC shareholders have requested a status report on the Company. The following is a rundown on some of the important matters currently before us:
1. GCC-NYSE company combination. We continue to focus on the business combination with a New York Stock Exchange listed closed-end fund. Having a NYSE listed platform can enable us to fully utilize the resources and relationships we have, but have not yet been able to exploit. Our GCC Advisor who is also a Trustee of the Fund is acting as an intermediary and facilitator.
2. Dragon Beach, Vietnam. Our GCC Advisor for this project has finally been able to bring the parties to the table. This involves: a. Securing the rights to develop the enormously valuable Dragon Beach site, and b. Receiving the contemplated 9 casino operating licenses for the site. Meetings are scheduled this month with the principals of Dragon Beach to finalize the initial agreement and to coordinate with the President, Prime Minister and other top Vietnamese officials to schedule signing events during which we feel the casino licenses may be issued.
3. Other Projects. We continue to develop numerous opportunities along with our Directors and Advisors and their own networks of high-level relationships. Our constraint in realizing value from these opportunities has been our lack of financial resources, compounded by the current economic implosion. This has, however, created even more opportunities for us with less competition particularly as we achieve the NYSE status. We will report on specific opportunities only as they become a reality since we do not wish to get excited about projects if they can’t be turned into value for our shareholders.
4. The completion of our audits, new share issuance and the re-listing of GCC shares continue to be hampered by a shortage of capital. We have cut our internal expenses to the bone but still have to pay third party professionals relatively small amounts to get this work done. In this regard we have been negotiating with a number of investors to cover these expenses so we can move ahead rapidly.
We are fortunate that we have a very lean organization, no debt, and a growing network of important relationships and opportunities. Our task is to convert these into value for our shareholders, which is exciting, but which takes time and money. We look forward to reporting on our progress as it takes place and thank you for your continued patience and support.
Sincerely,
John W. Allen JWA@greaterchinacorp.com
Laurence B. Levine LBL@greaterchinacorp.com
SOHU and other china plays running...the time for this POS is now...That is if the company is still viable
Seems like thinga are all but dead here...they still may be some good use for the trouble in the future...
IR informed me that the website will be updated and that it should contain all the information needed to make a decision on investing in GCC. I will no longer post my thoughts on this site, not that my opinions are of any importance. May the investment gods reward all who deserve good fortune.
When you are clueless on a subject, your questions might make sense. This company is going to surprise you in a few years. Luckly for all the current investors the stock is not trading. I see no hint of the market getting better short term so this company needs to stay the course no matter what opinions are supplied by investors.
This company is a joke. When is the last time it traded....a year ago or longer?
China's image improves as world economy slumps.
By Landon Thomas Jr.
ROME: As the world lurches ever deeper into economic distress, China's image is changing from that of currency manipulator to a source of badly needed consumer demand.
At the Group of 7 conference here over the weekend, finance ministers extended a friendly hand to the country many have criticized.
Veering sharply from his past testimony before the U.S. Congress, where he used harsh language in criticizing China's reluctance to let its currency, the yuan, appreciate, the new U.S. Treasury secretary, Timothy Geithner, was quick to commend China for its 4 trillion yuan, or $585 billion, stimulus package.
"We very much welcome the steps China has taken to strengthen domestic demand and its commitment to further exchange rate reform," he said during a news conference Saturday.
This view was echoed by the Group of 7's communiqué, which added that the yuan was "expected to appreciate in effective terms."
The quick shift in the G-7's stance toward China underscores how sharply policy positions are changing as the world economy continues to struggle.
It also is further proof of the diminishing stature of this once august group as it has become clear that large growing economies like China, India, Brazil and South Korea, which are part of the Group of 20 but not the G-7, will play defining roles in generating the purchasing power the global economy so desperately needs.
The G-7 session was Geithner's first official trip abroad as Treasury secretary. After the withering reception that his bank rescue plan received in Washington, he could be excused for seeing the event as a well-timed respite.
Geithner, whose previous job was president of the Federal Reserve Bank of New York, has spent his academic and professional life studying and implementing international financial policy. So, two days spent in Rome brainstorming with finance ministers from the Group of 7 industrialized nations about fixing the global economy plays to his specialty.
As one might expect in a gathering of diverse economies, there were differences of opinion.
Amid signs that Europe's worsening economic slump has created fissures among G-7 leaders about how to deal with the crisis, Geithner fielded questions from his peers about provisions viewed as protectionist in the stimulus package of the administration of President Barack Obama, as well as the debt needed to pay for it and the lack of detail in his bank rescue plan.
When it came to concrete measures to address the world slump, there was little offered, although the final statement did point to increased steps to inject liquidity and strengthen bank balance sheets.
"There are no quick fixes," said Alistair Darling, the British chancellor of the Exchequer.
As for how Geithner was received, the Treasury secretary said that while participants were happy that the United States was stepping forward, more was expected. "We all understand that the U.S. needs to be an influence for good," he added.
Geithner's trip to Rome - like much of his recent experience following his protracted confirmation process - was a whirlwind, crammed tight with meetings, dinners and, when he could squeeze it in, a trip to the gym.
Government defers income tax collection to spur spending
Vietnam would lose around VND1 trillion (US$57.3 million) every month if it waives income tax for five months, Deputy Minister of Finance Do Hoang Anh Tuan said
The government will delay the collection of personal income tax until the end of May to help stimulate spending amid the global economic crisis.
Personal income including salaries, profit from real estate and stock transactions and other investment returns would not be taxed until May, the government said in a statement posted on its website Monday. The National Assembly will decide then if the payments will be waived completely or just delayed.
The economy expanded 6.2 percent in 2008, the slowest pace in nine years, as the global recession cut demand for Vietnamese exports in the US and Japan. The government is targeting 6.5 percent growth for this year.
The government said last month it would provide a 30 percent rebate on tax bills from the fourth quarter of last year onwards for small- and medium-sized firms, defined as those having less than VND10 billion (US$572,000) in capital or employing fewer than 300 workers.
It will also cut value-added tax by half in February for products like coal, construction materials, engineering equipment used to make other products and automobile parts.
The country would lose around VND1 trillion ($57.3 million) every month if it waives income tax for five months, Tuoi Tre newspaper reported on January 13, citing Deputy Minister of Finance Do Hoang Anh Tuan.
Non-resident individuals would not have to pay tax on income from financial investments, transactions, copyright and franchising until May, Monday’s statement said
"Profanity shows anger, you are right. But for the one vulgar 3-word phrase I used, I do apologize.
Shouldn't have done it on this board...won't happen again."
Thank you.
Very clever of you to just post the parts of my 6 paragraph message that serve your purpose, and selectively decide to without the rest.
I did not suggest that my military service gave me more reasons to whine....what I DID suggest was very easy to discern from the full message itself..of which you have selectively referred to a very small part.
You are acting dishonestly here, and you know it.
It was part of a response to GCHC's blind political insults, where he has no idea who I voted for or how I feel about the events of Jan 20...but doesn't hesitate to invent that and use it as an insult...insults which remain on this board simply due to lack of profanity. As if anything about Jan 20th has anything to do with GCHC!
We won't even go into his whining about how some shareholders bought the notes and others didn't and the right he thinks it gives him to blindly hurl insults, post false predictions, or to act holier-than-thou...talk about self-important!!!
Also, you don't know anything about me, or how I went into or came out of our armed forces...but you pretend to and then deliver a sermon from the holier-than-thou pulpit of one who has, of course, never been angry, and never used profanity....yeah, right! Truth is, you have used profanity in your life ...oh, but when you did, it didn't show your ignorance, right??? LOL!!!LOL!!!
I will let others judge my ignorance, or lack of, from the track record and the content of my messages.
There is an alternative choice to just hitting the ignore button (the easy way out)....I'll continue to challenge messages that I disagree with or find objectionable for the reasons I've already stated.
Profanity shows anger, you are right. But for the one vulgar 3-word phrase I used, I do apologize.
Shouldn't have done it on this board...won't happen again.
I won't ban nor will Matt allow me to ban anyone who states their opinions about this company. Profanity is not allowed.
You say you were a marine. There are many who served in the armed forces and did not do so in order to protect our right to freedom of speach. For you to be so self-important as to suggest that this gives you more reasons to whine, shows me that you enterred as a boy and came out in a different capacity. Your anger is showing by your use of vulgarity. Marine talk is not going to be tolerated since it projects ignorance.
As to those posters who feel they are posting facts, from wherever the source, you don't have to believe them and can use the ignore button. To the cynic who thinks the CC's were a farce. These CC's were asked for by the investors and the CEO answered the questions posed. If these individuals don't like CC's or think they are a waste of time. Once again you can not dial in and be part of them.
I am very sure that the few who post their opinions here and find it necessary to critize, will always keep in mind. Coulda, shoulda, woulda's don't change a thing. The CEO stated more than once that the dilution of the stock should first be amoungst the current shareholders and then after that method for funds drys up. He will go outside and fund all the projects that wait for funding. By first going to investors for funds, the CEO stated he hoped this source would give him time to both complete the filings etc and be able to re-list with a higher opening pps than the 35 cent close last year. This is how I understand the entire picture. Maybe somebody else has a different picture, which I'm sure we will read shortly.
I continue to be very positive in the future of this company. I just wrote IR and told him I will back the CEO's moves as long as the CEO and his family own their millions of shares.
Please do not expect me to respond to anymore posts till the company releases their agenda.
great post...you are a credit to what's left of objectivity on this board. I for one appreciate you chiming in from time to time...Just throwing that out there...
T...
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