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Zell Calls for Worldwide Standards as REITs Go Global
Last updated: May 28, 2004 06:21am
HOUSTON-Who better to chart the coming changes in the commercial real estate world than REIT pioneer Sam Zell? And that's precisely what he did yesterday during a joint meeting of Naree and Fiabci here. Zell, who founded Equity Office and Equity Residential and built them into the largest REITs in the industry, mapped out his vision for the future of the industry, and it's a landscape that is both rich in continued consolidation of major industry players and intolerant of outmoded concepts and measures. But to manage the growing globalization of this still very local industry, he insisted, reforms and standards on an international level will be a requirement.
Zell, whose portfolio today includes 128 million sf of office space and 192,000 apartment units, told the combined crowd that the REIT model--once the target of raised eyebrows--is becoming the global model for an industry moving away from one-off transactions and into the public marketplace. He cited the REIT movements of Japan, Singapore, France and Argentina as mere samplings of the direction the industry is taking.
To manage that growth, however, Zell called for international standards: "We need a rule of law and consistent world standards," he stressed, especially to address such issues as outside advisors that such countries as Japan are adopting. He cited the potential conflict of interest that some foreign REITs could encounter if they eschew the US self-advisory model.
In what he termed the "brave new world," of commercial real estate, you can also expect to see a continuation of consolidation and the creation of "fewer, larger multinationals." Their emphasis will be less on one-off transactions and "individual assets and more on integrated platforms that can deliver" dividends in "an efficient manner."
That implies a shift away from traditional models of measurement, he said, and prime among these relics is the concept of net asset value. NAV, Zell stated, "is an outmoded standard that doesn't consider the issues of scale, the efficient management and the efficiency of financing that are capable with firms the size of Equity Office, Equity Residential or Simon."
The global movement that Zell outlined is still in its infancy, he admitted, and it is yet "too small for the largest investors" and too small for all the potential "real estate activity that is out there. But it will happen. We are at the doorstep of a brave new world."
ot baby..
i saw them a loooong time ago and had no idea who they were.. wish i had apprecited it back then..
this isnt the same but still good times..
http://www.dead.net/thedead/2004/summer-tour/index.html
babycakes..
i did the tx tour back in 1993 (or 94?).. started in houstin, went to dallas, and ended in austin.. the austin show was one of the best i ever saw.. up in the hills (willys place)..
phish shows, along w dead shows, cannot be explained.. they must be attended (i know i sound like a stoner)..
the past inspires the future.. can only hope to see something comparable while my brain cells are still functional ;)
what not to get rig for 50th..
happy bday, rig..
ot: brigs apartment..
http://www.mostemailed.com/images/misc/badNeighbour/
ot: buzzer beaters..
http://sports.espn.go.com/espn/page2/story?page=list/nba_buzzerbeaters
By Jeff Merron
Page 2
Thursday night's Duncan-glass, Fish-swish finish left us breathless -- and really, there's never been anything like it. But some finishes have come mighty close.
If you want more detail -- and audio -- have a look at the major source for this list, "At The Buzzer: The Greatest Moments in NBA History," by Bryan Burwell.
10. Kenny Smith's big three (1995 NBA Finals, Game 1)
The Rockets trail by three against the Magic in Orlando with 1.6 seconds left. Smith, who'll finish the night with 23 points, takes an inbounds pass and, with Anfernee Hardaway's hand in his face, swishes from beyond the arc to tie the game and send it to OT. The Rockets go on to win, 120-118.
John Stockton's sweet shot sent Utah to the NBA Finals.
9. Jerry West's 60-footer (1970 NBA Finals, Game 3)
With three seconds left in Game 3 of the Lakers-Knicks series in L.A., Dave DeBusschere hits a 15-foot jumper to give the Knicks a 102-100 lead. L.A. immediately inbounds from under their own basket, West takes the pass and dribbles as fast as he can upcourt, then, with the game clock reading 0:01, heaves it in from beyond the halfcourt circle to tie the game and send it into OT.
The momentum doesn't carry into the extra period, and the Knicks go on to win, 111-108.
8. Alonzo Mourning stuns the Celtics (1993 Eastern Conference first round, Game 4)
The Hornets are up two games to one in the five game series, and are playing at home against Boston. Trailing 103-102, Mourning sinks a 20-foot jumper with 0.4 left on the clock to put Charlotte into the conference semis and send the Celtics home.
7. Ralph Sampson shuts down Showtime (1986 Western Conference finals, Game 5)
The Rockets are up in the series, three games to two. With the score tied at 112 in the Forum, Rodney McCray passes to Sampson inside. With his back to the basket and Kareem looming, he makes an awkward half-turn mini-jumper with one second left, propelling Houston into the Finals.
6. John Stockton's 3 shoots Jazz into Finals (1997 Western Conference finals, Game 6)
The Jazz are up three games to one in their series against the Rockets, and Game 6 is in Houston. With the score tied at 100, Stockton gets himself wide open for a 25-foot 3, which he hits to give Utah the game and a long-awaited trip to the Finals. Stockton's shot capped an amazing final 3:13 for the guard, in which he scored 13 points.
5. Gar Heard and the Greatest Game Ever (1976 NBA Finals, Game 5)
Many have called it the greatest NBA game ever played. In the second OT, John Havlicek appeared to give the Celtics a one-point win over the Suns with a miraculous, running 15-foot bank shot with one second left. Fans stormed the court at the Boston Garden. After order was restored, the Suns took a technical (which gave the Celtics a two-point lead), but moved the ball to halfcourt. Heard took the inbounds pass near the free-throw line, turned and hit a 20-footer to force a third OT. The Celtics won 128-126 and then won Game 6 as well.
4. Derek Fisher's Point-Four (2004 Western Conference semifinals, Game 5)
Instant legend. Will it prove to be the key shot in another Lakers' title run?
3. Big-Shot Rob sinks Kings (2002 Western Conference finals, Game 4)
The Kings, trying to go up 3-1 in the series, built a 24-point lead over the Lakers. But L.A. had the final shot, trailing 99-97. Kobe Bryant missed, Shaquille O'Neal missed a follow-up and Vlade Divac batted the ball ... to the top of key, where Robert Horry picked up the loose ball and fired at the buzzer over Chris Webber for the game-winning 3-pointer. Lakers win the series in seven and then win their third-straight NBA title.
2. Vinnie Johnson's title-winner (1990 NBA Finals, Game 5)
The defending champion Pistons are up three games to one in their series against the Trail Blazers, and the game is tied at 90 with Detroit holding the ball for one last possession. Isiah Thomas winds the clock down from 20 to six seconds, then starts his drive for the last-second shot. Only he doesn't take it. He passes to The Microwave, who drives, backs off to make some space, and fires an off-balance jumper from 14-feet for the win and the title.
1. Jordan hangs, Ehlo descends (1989 Eastern Conference first round, Game 5)
Series tied at two games apiece. Three seconds left. Cleveland's up 100-99. Winner takes the series. Chicago inbounds to MJ, who, with Craig Ehlo right on him, takes off for a jumper from the top of the key with one second left on the clock. Ehlo takes off with him, but makes a much more rapid descent as Jordan remains in the air just long enough to get a clear view and sink the game and series winner. "I can't believe he hit that shot," said the Cavs Brad Daugherty. "I don't know how he stayed in the air that long."
ot: buzz..
lifetime spurs fan, eh? i was at the alamodome back in '95 for game 2 v the rockets.. remember that game? prior to the game, robinson was handed the mvp trophy.. the true mvp showed him his place, didnt he..
sorry.. couldnt resist ;)
imax up on stock buy back..
back in the green ;) if you havent seen nascar in 3d yet, i strongly recomend you going.. for only $10, you feel like you are in the car.. only 1 hour long but the last 15 minutes will pump you up
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui...
Imax executives buying stock
By Jon Friedman, CBS.MarketWatch.com
Last Update: 9:38 AM ET May 13, 2004
NEW YORK (CBS.MW) -- Several executives of Imax, the big-screen movie company, have purchased about $1 million worth of its stock in the past few days, officials said.
The company's shares surged 55 cents to $4.90, a 12 percent jump.
Led by the co-chief executive officers, Richard Gelfond and Bradley Wechsler, the Imax officials bought about 250,000 shares of stock at an average cost of $4.10 and $4.30 apiece, Gelfond said in an interview on Wednesday afternoon.
The stock had hit a 52-week low of $4.04 in intraday trading on Monday.
Like many media and entertainment top executives, Imax's brass has been frustrated by Wall Street's inattentiveness in the past few years and they smell a bargain.
Investors have been reluctant to give media stocks the benefit of the doubt despite the advent of technological and marketing innovations that are likely to continue building the public's interest.
Imax (IMAX: news, chart, profile) faces the double whammy of competing for attention as a small-cap stock. The stock market has often had little patience for small companies' growth strategies, fretting that it would be especially difficult for them to make good on their promises amid the volatile economic conditions.
"We think the market has mistakenly underestimated how quickly our commercial theater strategy will take hold," Gelfond said.
He expressed his dismay with Wall Street's possibly unreasonable expectations for a boom in Imax's fortunes.
"We released `The Matrix' last fall and the market thought it would happen overnight," Gelfond said. "Now they think it will never happen. We're close to seeing some real success in our commercial theater strategy."
Imax is also enthusiastic because of its promising slate of what Ho9llywood calls "day and date" movies - that is, films released on Imax screens and Cineplexes on the same day.
Imax believes that moviegoers, particularly families and young fans, will want to see the films on Imax screens for the sheer excitement of watching the action on a gigantic movie screen.
"Our film slate this year is the strongest it has ever been," Gelfond pledged. "Our day and date movies this year include the next `Harry Potter' release, `Catwoman' and a 3-D presentation of `Polar Express,' which could be a breakthrough film for us."
Jon Friedman is media editor for CBS.MarketWatch.com in New York.
09:06 ET Gold, Oil and Dollar Summary : The Dollar falls versus the Euro (1.1918) and is little changed against the Yen (113.01) this morning. The Euro has erased its morning losses after news of the US trade deficit widening to a record $46 billion on an increased value of imports (boosted by higher oil prices and consumer spending)...Gold is gaining strength from the Dollar's weakness as it jumps to 383.50 from 377.50... Oil maintains it position above $40 a barrel despite Saudi Arabia claiming they are ready to increase production by the OPEC June 3 meeting. According to the International Energy Agency, global demand for oil will rise to its highest level in 16 years as economic growth accelerates and consumption surges in China this year. Other factors raising the price of oil include Middle East unrest and the fast-approaching US summer driving demand "officially" beginning Memorial Day.
Gas Price Hits Record $1.941/Gallon-Govt.
http://news.yahoo.com/news?tmpl=story&cid=564&u=/nm/20040510/ts_nm/energy_gasoline_dc_5&...
Mon May 10, 5:22 PM ET Add Top Stories - Reuters to My Yahoo!
By Christopher Doering
WASHINGTON (Reuters) - U.S. consumers will pay even more to fill up their automobiles as the average national price for a gallon of gasoline rose nearly 10 cents during the past week to a record high of $1.941 per gallon, the U.S. government said on Monday.
Pump prices are up 45 cents from one year ago, according to a weekly survey of more than 800 service stations by the Energy Information Administration.
Fuel prices have climbed in recent months because of strong demand for gasoline, tight petroleum supplies and high crude oil costs.
"It's not unexpected that we've seen prices increase this week," said Jonathan Cogan, a spokesman for the EIA. "And we don't expect this is the end."
When adjusted for inflation in 2004 dollars, the highest U.S. average retail gasoline price was $2.99 a gallon in March 1981, the EIA said.
On Monday, the Bush administration said it welcomed a proposal by Saudi Arabia for OPEC (news - web sites) to boost its crude oil production by about 6 percent, or 1.5 million barrels per day. Kuwait, another member of the Organization of Petroleum Exporting Countries, said it supported such a move.
"We welcome the actions of all producer nations to help both the U.S. and the global economy," said White House spokesman Trent Duffy, when asked to comment on the Saudi announcement.
The administration has expressed concern over the impact of high fuel prices in the United States, which consumes about 45 percent of the world's gasoline. President Bush (news - web sites) recently urged OPEC to boost production when it holds its next official meeting in June.
U.S. crude oil futures for June delivery tumbled by $1 to $38.93 per barrel on the Saudi announcement. Last week, U.S. crude oil briefly hit $40 a barrel for the first time since 1990 on concerns over security in the Middle East and tight U.S. gasoline supplies.
The EIA's weekly gasoline report showed the average U.S. pump price was the highest on the West Coast, where prices rose 11.7 cents to an average of $2.220 per gallon.
The U.S. Gulf Coast had the cheapest gasoline last week, rising 9.0 cents to $1.818 a gallon.
Among the 10 major urban areas highlighted by the EIA, Houston pump prices were the cheapest at $1.783 per gallon, up 9.7 cents. San Francisco was the most expensive city as prices rose 11.1 cents to $2.237 per gallon.
The national price for cleaner-burning reformulated gasoline, sold at about one-third of the gas stations in cities and smoggier areas, rose 10.4 cents to $2.017 a gallon.
U.S. diesel prices rose 2.8 cents to an average $1.745 per gallon last week, the EIA said. The average cost for a gallon of diesel is 30.1 cents per gallon more expensive than one year ago.
ninji..
pardon my french...............
what the fuck are you doing w a membership? you know, this means you cant be a dick anymore..
thanks tag eom
ninji..
if you have to place the 1031 monies, nnn would be logical.. having said that, sometimes its better to get a tax hickey rather than getting turned upside down..
imo, the rtc days will be back soon.. numbers dont work.. cap rates dropping while interest rates are rising.. economic vacancy is pathetic..
just like '00 when every tom, dick, and harry was in the market.. now everyone wants to be a real estate tycoon.. heard someone say their house should appreciate 15% this year..
good lord..
tag re "dry"..
dry as in rain not pouring down.. the humidity doesnt bother me too much as the flooding does.. allegedly, the flooding issues are on whites agenda..
oh my.. sideways rain.. never a good thing.. may back it up at lunch ;)
ot: tag..
you didnt expect cool and dry all summer long i hope ;)
re gkig..
news last friday..
http://biz.yahoo.com/pz/040507/57192.html
GK Intelligent Systems Requests Delisting on Berlin Stock Exchange Due to Suspected Naked Short Selling
Friday May 7, 11:00 am ET
HOUSTON, Texas, May 7, 2004 (PRIMEZONE) -- GK Intelligent Systems, Inc. (OTC BB:GKIG.OB - News), a publicly traded holding company with entertainment and technology subsidiaries learned that it was listed on the Berlin Stock Exchange. At no time did GK Intelligent Systems' officers or directors request to be listed on this exchange. During the past several weeks the company's share price has suffered. Management believes that the persistent pressure on the share price may be related to the listing on the Berlin Stock Exchange. Management is currently drafting a letter to the Berlin Stock Exchange requesting immediate removal of GKIG from their exchange.
ADVERTISEMENT
Investors looking to purchase shares of GK Intelligent Systems should only purchase their shares from the NASDAQ Over-The-Counter Bulletin Board under the symbol GKIG.
About GK Intelligent Systems
GKIG is a developer, and provider of proprietary ``intelligent'' software technology products and supporting technologies designed to personalize nationally-branded products and services, with the objective of improving profitability and fostering higher levels of customer satisfaction and brand loyalty. The Company operates as a holding company with various emerging entertainment and technology subsidiaries with an emphasis in the music industry.
For more information on GK Intelligent Systems please visit the corporate website, http://www.gkis.com, and its exciting music entertainment subsidiary's website, http://www.RAWW.com.
star..
remember waaaaaay back in '99 and '00.. every time greeny pushed up the rates, the market tanked.. what were we then, like 7-8%??
the big boys are giving it to average joe-six-pack w/o lubrication.. the sky is falling! hurry up and purchase / refi your home now..
those who forget the past are doooooomed to repeat it in the future..
out gv..
rising interest rates and gold are not mixing well..
tag..
$60s down to .40.. waiting to see how market responds.. may have to buy some w play money or look a little closer to the money.. $50s perhaps.. think im just fixated on the $60 for some odd reason......
btw - pettitte is a stud..
Rising interest rates rock REIT stocks
http://houston.bizjournals.com/houston/stories/2004/05/10/story2.html
EXCLUSIVE REPORTS
From the May 7, 2004 print edition
Rising interest rates rock REIT stocks
Jim Greer
Houston Business Journal
Rising interest rates in April proved to be a mixed blessing for stock prices of three real estate investment trusts with major Houston exposure.
Shopping mall REIT Weingarten Realty Investors and office-oriented Crescent Real Estate Equities have seen shares slide under selling pressure since early last month.
But shares of Camden Property Trust, which focuses on apartments, early this month hovered near a 52-week high.
"When rates rise, REIT returns are all over the place," notes Louis Taylor, a stock analyst with Deutsche Bank.
Last month, however, the sharpest moves were on the downside.
"Investors perceive the rise in rates to be a negative for REITs as the 'yield differential' between REIT stocks and fixed-income investments narrows," Merrill Lynch analyst Steve Sakwa noted on April 26.
Income-oriented investors in recent years have flocked to REITs for yields that often have ranged from 5 percent to the upper single digits.
As recently as earlier this year, interest rates at or near multidecade lows made yields on competing investments like certificates of deposit look downright paltry.
But as interest rates ratcheted higher in April, and it became apparent that the Federal Reserve could reverse course and soon raise rates, jittery investors jumped in to take profits in many REIT stocks.
Shifting sentiments
Shares of Weingarten Realty, the largest Houston-based REIT, fell 18 percent to below $29 last month.
The stock had been performing well even on the eve of investor jitters over rising interest rates: Weingarten Realty shares reached a 52-week high of $35.65 during trading on April 2.
Sentiment toward Weingarten Realty and a plump portfolio of other REITs quickly shifted.
Smith Barney, for instance, late last month lowered share price targets on stocks of 11 retail-oriented REITs covered by the investment firm. One of the reduced price targets was on Weingarten Realty.
"We no longer believe our prior valuation targets are achievable in light of the recent backup in interest rates, and (given) expectations for rates to continue rising," according to an April 26 research report co-authored by Smith Barney equity analyst Jonathan Litt.
While Smith Barney has lowered its outlook on retail REITs, others such as RBC Capital Markets equity analyst Jay Leupp are turning more positive on REITs that focus on multifamily housing.
"We believe the apartment sector is near an inflection point, and that steadily improving property fundamentals will be further stimulated by a rebounding economy, accelerating job growth and rising interest rates," Leupp notes in an April 30 research note.
According to the April 30 report, RBC Capital Markets raised its opinion on Houston-based Camden's stock from an unflattering "underperform" to a "sector perform" rating, amid the securities firm's "positive shift" to an equal weight recommendation for the apartment sector.
Despite having large exposure to markets with higher home affordability, Camden has steadily increased its apartment occupancy while offering reduced concessions, notes Leupp.
And now that mortgage rates have moved significantly higher from their lowest level in more than 40 years, prospective home buyers who are on the fence could decide to rent an apartment instead.
Still, Camden's geographic markets "remain a mixed bag," Leupp believes.
Two markets that are expected to remain relatively weak are Houston and Dallas, which together account for more than a quarter of Camden's net operating income, according to Leupp.
For Fort Worth-based Crescent, the Houston and Dallas markets also represent key areas of concentration.
In March, RBC Capital Markets issued a mixed research report on Crescent shares, predicting that the Fort Worth REIT's "core Texas markets will remain relatively weak through 2004."
On Feb. 3 Crescent shares reached a 52-week high of $18.90. But from there, the stock dropped 17 percent to $15.65 on May 4, despite offering a hefty yield well over 9 percent.
Office assets comprise a majority of the Texas-oriented REIT. Houston, Dallas, Austin and Denver are the largest markets for Crescent's formidable portfolio of office buildings.
Insider buying
From the standpoint of REITs like Crescent and Weingarten Realty, investor perceptions clearly have soured with the rise in interest rates.
However, a REIT's revenue is not tied to interest rates, and neither are operating expenses, according to Deutsche Bank analyst Taylor.
This apparent disconnect might prompt some bargain-hunting in suddenly beaten-down REIT stocks. Even some prominent company insiders seem to smell a buying opportunity.
Weingarten Realty Chairman Stanford Alexander already toted a major stake in the company before the April downturn. But on April 30, he stepped up to buy 10,000 Weingarten shares for a total purchase price of approximately $287,150.
Weingarten CEO and President Drew Alexander, the chairman's son, bought 1,000 shares on April 28.
The insider buying came less than a week after Weingarten Realty announced first quarter results that surpassed the consensus of analyst expectations.
Aside from the Alexanders, at least three Weingarten Realty directors, including prominent financial figure Marc Shapiro, also made insider purchases in late April.
According to Thomson Financial data compiled by AOL, Weingarten Realty insiders from April 28 through April 30 combined to buy shares for more than $1.2 million.
"There have been a number of our board members and our officers who are taking advantage of the fact that we feel pretty strongly the stock is on sale," says Tracy Pursell, investor relations director for Weingarten Realty.
Many REIT stocks "have taken a hit in the month of April," Pursell notes.
jgreer@bizjournals.com • 713-960-5933
ot: tag..
so we swim in the same waters ;) if our summers were always like this, we would be a top destination..
fwiw - pms are pms for a reason ;)
tasr / houston chronicle..
Paper: Houston Chronicle
Date: SAT 05/08/04
Section: A
Page: 29 MetFront
Edition: 3 STAR
Deputies will learn Taser use / 161 devices to aidpatrols by summer
By RAD SALLEE
Staff
The Harris County Sheriff's Department has bought 161 Taser guns and will train as many as 200 patrol deputies in their use by July, according to sheriff's Maj. Mike Smith.
Sheriff Tommy Thomas said the devices, which fire high-voltage non-lethal darts to subdue violent or potentially violent suspects, cost about $1,000 each and will be paid for with money seized from criminals.
Weighing 10 ounces and about the size of a small revolver, the Tasers have a range of 21 feet and can penetrate heavy clothing, leaving the target immobilized but uninjured, according to the manufacturer, Phoenix-based Taser International.
However, the American Civil Liberties Union in Denver says that some people shot with Tasers have died. The ACLU has advised not using Tasers on suspects who resist arrest unless they threaten deadly force.
But Thomas and Smith said Tasers here will be used before suspects threaten deadly force. Sheriff's deputies here are trained to fire their service weapons when threatened with deadly force, they said.
"We get a lot of resisting-arrests where the guy doesn't want to go to jail," Smith said. "Normally when there's a fight, both parties are injured - you get strained necks, broken knees."
Smith said about 20 male and female deputies learned what it's like to be shot with a Taser this week during two days of training. They were ordered to attack the instructor after being hit by the darts, but none was able to, he said.
"The vast majority went down," he said, while others "just locked up and looked like they were doing the Funky Chicken."
Smith took his turn, too. "It's much the same feeling as touching a high-voltage wire," he said. "You want to get away from it."
The darts, attached to the gun by wires, can deliver additional jolts if the suspect continues to resist. In a healthy person, the company says, the only after-effect is two small marks that look like bee stings.
Houston Police Chief Harold Hurtt, who equipped officers in Phoenix with similar weapons while police chief there, said last month he plans to outfit the Houston Police Department with Tasers at an estimated cost of $1.9 million.
. . .
ABOUT THE TASER
A Taser is a device that fires high-voltage non-lethal darts to subdue suspects.
Weighs 10 ounces, about the size of a small revolver
Has range of 21 feet, can penetrate heavy clothing
Leaves target immobilized but uninjured
Made by Phoenix-based Taser International
Costs about $1,000 each
Will be paid for with money seized from criminals
monk..
on espn classics, they are showing game 1 of the 88 series.. bottom 8th.. scully just said, "gibson isnt even in the dugout.. the power behind this dodger lineup will not be playing tonight.."
hope you are doing well..
pentium..
imo, if it breaks 1.10.. then it will be magnificent...
mw..
tasr sep $60 calls now .60 .50 x .60
http://www.optionsxpress.com/quote_detail.asp?SESSIONID=&SYMBOL=.QURIL
imo, a rebound will easily bring them back to + 1..
tag..
tasr sep $60 are as i originally posted.. .60 .50 x .60
http://www.optionsxpress.com/quote_detail.asp?SESSIONID=&SYMBOL=.QURIL
http://www.optionsxpress.com/quote_charts.asp?pageId=HISTORICAL&SubPageID=FIND&SessionID=&am...
ill never, ever go by yahoos options again.. they should be fined by the sec for that.. still think thats easy money.. looking that far out, you would think it gives them plenty of time to recover
im looking at the others.. again, its truly appreciated..
tag..
would pm but im a cheapy ;)
thanks.. i appreciate it..
and if so..
i wouldnt mind a small finders fee.. went to place and it jumped.. maybe yahoo showed the wrong info.. but if not, i cant kick myself.. doh..
tag u do that?? ;) eom
tag..
ive been watching the tasr sep 60 calls:
http://finance.yahoo.com/q/op?s=TASR&m=2004-09
watched going from .90 to +/- 1.20 and now at .70 .55 x .65
that almost looks like easy money imo..
EDIT: just looked again and now at 1.10?? something screwed.. you see that?
nice bounce on cptv..
still watching tho..
drillbit..
http://www.msnbc.msn.com/id/4923389/
Oil prices reach $40 a barrel
Middle East terror fears boost crude costs
Updated: 10:31 a.m. ET May 07, 2004LONDON - Oil prices hit $40 a barrel for the first time in 13 years on Friday on concerns over global supply security, fostering fears that economic growth could suffer.
advertisement
U.S. light crude hit a high of $40, the highest level since October 1990 after Iraq invaded Kuwait in the crisis that led to the Gulf War. London Brent rose 52 cents to $37.05.
Last weekend’s shootings at a Saudi Arabian chemicals plant and attempts a week earlier to bomb Iraq’s Basra oil export terminal have fostered fears of a bigger attack on oil facilities in the Middle East, which pumps about a third of the world’s oil.
“People are watching events in the Middle East very closely. We could be getting towards the point when supplies will be disrupted and that’s very worrying,” said Tony Machacek of Prudential Bache brokerage.
The United States is calling on the OPEC cartel to calm prices by increasing output. The Bush administration fears the fallout of higher energy costs in an election year.
U.S. Treasury Secretary John Snow said on Thursday that high oil prices were “not helpful” for U.S. and global economic growth.
The Organization of the Petroleum Exporting Countries, which controls around half world crude exports, will hold its next scheduled meeting on June 3 in Beirut. OPEC ministers will get the chance to discuss policy options at a forum that gathers producer and consumer nations in Amsterdam on May 22-24.
Several cartel ministers have said they think there is enough crude oil in the market. Algeria’s Oil Minister Chakib Khelil said high prices are instead a result of China’s red-hot oil demand and political instability in the Middle East.
“The reasons that are affecting the world oil market are really beyond OPEC’s control,” OPEC President Purnomo Yusgiantoro told CNBC television.
U.S. refineries are struggling to meet demand for new environmental grades of gasoline ahead of peak summer holiday driving demand.
U.S. gasoline consumption in the past four weeks rose by 3.4 percent against the same period last year to 9.1 million barrels a day, leaving stocks of the motor fuel to well below the five-year seasonal average.
“The explosive cocktail created by OPEC actions, Saudi oil policy, U.S. managing logistical bottlenecks and U.S. foreign policy are set to keep oil prices on fire this summer,” Washington-based PFC Energy said in a research note.
tasr & harris co..
http://money.cnn.com/services/tickerheadlines/prn/sfw054.P1.05052004032454.07020.htm
TASER International, Inc. Receives Two Large Orders for TASER X26 Conducted Energy Weapons From Harris County Sheriff's Office and Toledo Police Department
May 5, 2004: 6:30 a.m. EST
SCOTTSDALE, Ariz. (PRNewswire) - SCOTTSDALE, Ariz., May 5 /PRNewswire-FirstCall/ -- TASER(R) International, Inc. , a market leader in advanced non-lethal weapons announced two significant orders of TASER X26 conducted energy weapons and accessories. The first is from the Harris County Sheriff's Office located in Houston, TX, the nation's fourth largest city. The second order is from the Toledo Police Department in Ohio. These two purchase orders totaled over $500,000.
"Harris County Sheriff's Office is always seeking out viable less than lethal options for its deputies. Our testing and research of the TASER X26 indicates the potential to significantly reduce serious injury to suspects and deputies in certain high risk situations," said Major Mike Smith of the Harris County Sheriff's Office.
"The Harris County Sheriff's Office order is significant given the size of this department as the third largest sheriff's department in the nation. This order adds another top 100 law enforcement agency to deploy TASER conducted energy weapons. With over 179 law enforcement agencies deploying TASER technology in Texas, it is vital to gain a foothold in Houston, the largest city in Texas," said Tom Smith, President of TASER International, Inc. "The purchase by Harris County Patrol Bureau will make TASER conducted energy weapons available to the front-line patrol officers where it makes the biggest impact in reducing injuries to suspects and deputies," added Mr. Smith.
The Toledo Police Department ordered 460 TASER X26 conducted energy weapons with accessories. Currently, over 270 law enforcement agencies deploy TASER technology in Ohio.
"It is exciting to gain a deployment of TASER technology by another large police department in the state of Ohio such as Toledo Police, given the success that the Ohio State Highway Patrol and Cincinnati Police Department have achieved utilizing our non-lethal devices," commented Mr. Smith.
msgi..
imo, he got pissed bc you were chest pounding saying you brought pphm to everyone prior to him.. if you read my response to you, things become a little more clear..
it reminds me of the dog everyone had in their neighborhood.. you know, the one that just seemed pissed at the world.. if you went up to it, it would go ballistic.. after time, you realized that if you didnt bug the dog, the dog wouldnt bug you.. however, there was always the kid that enjoyed to torment the dog.. you are too smart for that msgi.. leave the dog alone..
drillbit..
http://news.yahoo.com/news?tmpl=story&cid=568&u=/nm/20040506/bs_nm/markets_oil_dc_19&pri...
Oil Nears $40 on Gasoline, Security Fears
Thu May 6,12:11 PM ET Add Business - Reuters to My Yahoo!
By Barbara Lewis
LONDON (Reuters) - World oil prices set fresh 13-year highs on Thursday, within a whisker of $40 a barrel for U.S. crude, stoked by worries about summer gasoline shortages in the United States.
Fears of possible sabotage attacks on oil facilities in the Middle East also helped to keep prices strong.
U.S. light crude hit a high of $39.97 a barrel, before easing to trade 27 cents lower at $39.30 a barrel, while London Brent fell 21 cents to $36.51, down from a high of $37.20, which was the highest level since October 1990.
U.S. gasoline futures also eased slightly after hitting another record level of $1.3290 a gallon.
Despite the profit-taking dip, analysts predicted $40-a-barrel oil was still imminent.
"I think we're going to have a four in front of the oil price very soon. It's certainly pretty ugly for the oil consumers of the world," said David Thurtell, commodities strategist at Commonwealth Bank of Australia in Sydney.
Middle East supply security concerns, low U.S. gasoline stocks and rampant demand growth in China have driven U.S. crude prices toward the record $41.15 hit in October 1990 after Iraq (news - web sites) invaded Kuwait in the crisis that led to the Gulf War (news - web sites).
"Terrorism fears are causing a permanent risk premium to be built into the market," said independent energy consultant Geoff Pyne.
Traders worry that weekend shootings at a Saudi Arabian petrochemicals plant and attempts a week earlier to bomb Iraq's key Basra oil export terminal might be precursors to a bigger attack on vital oil facilities in the Middle East, which pumps about one-third of global daily crude output.
Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo, forecast that crude was likely to push up to $43-$45 a barrel by mid-year.
"Last year we hit $39.99 before the war, which was largely psychological. Now we need to look at the fundamentals and they are very strong," Emori said. Prices spiked close to $40 during intraday trading in February 2003 as U.S.-led forces prepared to attack Iraq.
Summer U.S. gasoline consumption is at the cutting edge of rising consumption. U.S. refineries are struggling to meet demand that in the past four weeks rose 3.4 percent versus the same period last year to 9.1 million barrels a day, suppressing stocks of the motor fuel well below the five-year seasonal average.
The United States, with less than five percent of the world's population, accounts for some 45 percent of the world's gasoline consumption of just over 20 million barrels daily, U.S. government figures show.
While U.S. motorists are paying a record $1.84 a gallon, retail prices are only a third of average western European levels and have had no impact on demand.
cptv..
you may want to put this on watch.. i dont own any, just an old play that caught my eye..
http://finance.yahoo.com/q?s=cptv
ot: lmao! eom
ellas..
here ya go!
ot: ellas..
ive been looking for the pic w/ clemens tipping his cap w 4137 in the background.. its in the paper but havent found it online yet..
fyi - i believe ryan signed a 10 year personal service contract with us.. he did the same w the rangers; however, he felt like he was a "token" icon.. here, he actually works with our rotation and farm system..
rd..
i dunno, but would love a hit of it.. and i thought the stuff i had made you loopy.. keep in mind i pay $100 for a 1/4, so you know ive got the greeeen goods :)