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"When your Application is approved, the Fundación Pan America Council will issue confirmation that you are a Beneficiary and a Beneficiary Contract will be established."
Benefit from secure returns on your investments today,
while building a lasting legacy for tomorrow.
Benefit from secure returns on your investments today, while building a lasting legacy for tomorrow. The Fundación Pan America is a Panamanian Private Interest Foundation constituted in accordance with Law 25 of the 25th June 1995 of the Republic of Panama. It is legally authorized to act as a depository for any type of real or financial asset and to hold such assets in safekeeping on behalf of and for the benefit of its beneficiaries which may be legal entities, natural persons & Goverments in good standing.
The world today poses many new threats to your prosperity and financial future. As a result, some traditional forms of financial planning are no longer adequate. The Fundación Pan America was created in response to these threats and offers a convenient, secure way of arranging your financial future and that of your successors.
Through careful planning, with the help of experienced people and strong protection of your assets, you can benefit from secure returns on investments today, while building a lasting legacy.
To make use of the services we offer, you will need to become a Beneficiary of Fundación Pan America and will need to complete a Beneficiary Application Form. When your Application is approved, the Fundación Pan America Council will issue confirmation that you are a Beneficiary and a Beneficiary Contract will be established.
To provide convenient, secure access to benefits, Fundación Pan America will soon offer its beneficiaries a pre-paid debit card. This card is not a credit card and is unlike other debit cards, which withdraw funds from a linked bank account. The pre-paid card is a stored value card.
The card will be loaded with an amount of funds decided by the Beneficiary card-holder. The funds used to load the card will be provided by the Beneficiary and the card may only be used up to this limit so there is no need for any credit checks or references.
More information, as well as the Application Form, will be available soon.
The Fundación Pan America does not provide, nor is it offering, any banking service or product
http://www.fundacion-panamerica.com/10FundacionPanAmericaB/01IndiceFundacionB.htm
Benefit from secure returns on your investments today,
while building a lasting legacy for tomorrow.
Benefit from secure returns on your investments today, while building a lasting legacy for tomorrow. The Fundación Pan America is a Panamanian Private Interest Foundation constituted in accordance with Law 25 of the 25th June 1995 of the Republic of Panama. It is legally authorized to act as a depository for any type of real or financial asset and to hold such assets in safekeeping on behalf of and for the benefit of its beneficiaries which may be legal entities, natural persons & Goverments in good standing.
The world today poses many new threats to your prosperity and financial future. As a result, some traditional forms of financial planning are no longer adequate. The Fundación Pan America was created in response to these threats and offers a convenient, secure way of arranging your financial future and that of your successors.
Through careful planning, with the help of experienced people and strong protection of your assets, you can benefit from secure returns on investments today, while building a lasting legacy.
To make use of the services we offer, you will need to become a Beneficiary of Fundación Pan America and will need to complete a Beneficiary Application Form. When your Application is approved, the Fundación Pan America Council will issue confirmation that you are a Beneficiary and a Beneficiary Contract will be established.
To provide convenient, secure access to benefits, Fundación Pan America will soon offer its beneficiaries a pre-paid debit card. This card is not a credit card and is unlike other debit cards, which withdraw funds from a linked bank account. The pre-paid card is a stored value card.
The card will be loaded with an amount of funds decided by the Beneficiary card-holder. The funds used to load the card will be provided by the Beneficiary and the card may only be used up to this limit so there is no need for any credit checks or references.
More information, as well as the Application Form, will be available soon.
The Fundación Pan America does not provide, nor is it offering, any banking service or product
http://www.fundacion-panamerica.com/10FundacionPanAmericaB/01IndiceFundacionB.htm
The Read of the Document
and how it states the importance and functions of the
Magna Carta Parties with PNMS and the PDR's. The protection of Beneficiaries assets.
Interesting Magna Carta PNMS
http://panamersa.net/docs/magna_carta_ing_01.pdf
price earnings of around 5c per share
BEIJING, Nov. 25 /PRNewswire-FirstCall/ - Mon Arc Corporation www.monacorporation.com (MonArc) PINKSHEETS: MONA.PK MonArc management is pleased to announce this operational update to its shareholders and followers.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33790653
BEIJING, Nov. 25 /PRNewswire-FirstCall/ - Mon Arc Corporation www.monacorporation.com (MonArc) PINKSHEETS: MONA.PK MonArc management is pleased to announce this operational update to its shareholders and followers.
ADVERTISEMENT
Mr. Alex Diaz, the company geologist and Andrea SA Co-President said, "Andrea SA project is not only an exploration opportunity, but a project in current production with the first full week's 24hr production producing in excess of 3 kg or 100 ounces of traditional Inca Gold and 1 kg of Silver. This is a spectacular result given production only began in August of this year, and is only processing about 50 tons per day.
All ore currently being processed at Andrea Gold SA production facility is averaging 12 grams per ton. This is extremely rare in the mining industry to be processing grades as high as this, along with the low wage environment, and modern, latest technology mill and floatation plant, continues to make this plant one of the most profitable operations anywhere in the world.
With current production this represents an expected profit in excess of 1m dollars per year, and with small changes being planned and shortly to be made to the plant, a 2 and 3 fold increase in the level of production is foreseeable. As we move forward with MONA we expect the net profit to reach 2-3 million dollars or a price earnings of around 5c per share. 10-15 million in profit is our projected and an achievable targeted goal within the next 2-3 years."
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
Source: MonArc Corporation (MONA)
paying part or entire cash amount to its shareholder base
BEIJING, Oct. 21 /PRNewswire-FirstCall/ - monacorporation.com PINKSHEETS: MONA.PK is providing the following update vis-a-vis sale of its operating subsidiary PP365.Com to RMD Entertainment Group Inc. (RMDM). MonArc Corp. recently announced that it is currently in discussions to sell both of its operating divisions PP365.Com (China game developer) and its rights to Innotrek (A China based broadband provider) on a cash and stock basis to RMD Entertainment Group Inc. (RMDM) www.rmdmgroup.com . As previously announced, MonArc Corp. did close the transaction with RMD Entertainment Group on the Innotrek transaction. Over the past weekend MonArc management received an unsolicited all cash buyout proposal for the assets of PP365 from a completely separate and unrelated entity. The unsolicited, all cash buyout proposal comes literally in the 11th hour as both MonArc Corp. and RMD Entertainment were ironing out the final details of their transaction, and final preparations to close the deal were being done.
Mr. Yang, a spokesperson for MonArc, said, "We have a fiduciary duty to our shareholders to examine every proposal and to make a determination as to what is in the best interest of our shareholders. The agreement between MONA and RMDM contained an escape clause for the benefit of MonArc Corp. should another buyer come forth before the closing of the transaction with RMD Entertainment Group. That contract, and clause was drafted by Mr. Winters. It also contained a non conflict of interest clause as Mr. Garr Winters acts in the capacity of a secretary with MonArc Corp. and an interim CEO with RMD Entertainment. Mr. Winters added, "It was my sincere wish that PP365 take off sky high with RMDM as it really never received the respect in terms of price per share with MONA that it deserved. This all cash proposal caught all of us off guard, but needless to say the MonArc management is pleased to have had the opportunity to entertain this new proposal from a separate buyer. MonArc management is continuing its due diligence process for the Peru South America mining company merger, regardless."
Mr. Wynn Wang, CEO of RMD Entertainment Group, said, "Based on what we have been presented with, we cannot match the all cash offer to MonArc for PP365. If the all cash buyer does come through we wish them well. If that deal does not happen we would still be interested for PP365 on the same terms as previously presented. At this point with Innotrek and the Australian game maker on our plate we have more than enough to keep us busy. I just wish to use this opportunity to extend our gratitude to all sides for an absolute positive and professional conduct from all concerned."
Mr. Yang, a spokesperson for MonArc, said, "Obviously if the cash deal for PP365 does come to a fruition, the dividend due to MONA shareholders from RMDM will only be for the purchase of Innotrek and will be prorated accordingly. Additionally should the all cash deal for PP365 materialize the MonArc management is currently entertaining the idea of paying part or entire cash amount to its shareholder base, or shareholders on record since about spring of 2008. At this point this topic is all very preliminary, and in its infancy. Should the all cash deal come to fruition, this will be the 6th dividend in cash and stock MONA will have paid out to its shareholders by December 31, 2008.
It goes without saying that for a Pink Sheet company this is unprecedented and being an unsolicited stock for one is simply beyond the grasp of many in the industry. MonArc Corp. is truly a unique and one of a kind company."
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
For corporate matters contact: corporate@monacorporation.com
CONTACT: For corporate matters contact: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
Volume 53,505,736
eom
Gold Prices and MONA
http://www.kitco.com/charts/livegold.html
BEIJING, Nov. 24 /PRNewswire-FirstCall/ - MonArc Corporation www.monacorporation.com PINKSHEETS: MONA.PK MonArc management is pleased to announce the closing of the merger with Andrea Gold SA. This merger adds considerable value to MONA shares with the currently operating and producing Gold plant in Northern Peru and associated gold leases have an estimated value of at least 4-5 million dollars.
MonArc Corporation (MONA) Completes Peru Andrea SA Gold Mine Merger
Monday November 24, 7:30 am ET
BEIJING, Nov. 24 /PRNewswire-FirstCall/ - MonArc Corporation www.monacorporation.com PINKSHEETS: MONA.PK MonArc management is pleased to announce the closing of the merger with Andrea Gold SA. This merger adds considerable value to MONA shares with the currently operating and producing Gold plant in Northern Peru and associated gold leases have an estimated value of at least 4-5 million dollars.
ADVERTISEMENT
Key staff of Andrea SA are Mr.Alex Diaz, himself a US trained geologist and his partner Mr.Pablo Rodriguez a qualified metallurgist. Together they have put together an excellent team of experienced mining people and the project is a credit to them. MonArc Corporation intends to name both individuals as one of its officers and board members of the company shortly.
This project is not only an exploration opportunity, but a project in current production with the first full week's 24hr production producing in excess of 3 kg or 100 ounces of traditional Inca Gold and 1 kg of Silver. This is a spectacular result given production only began in August of this year, and is only processing about 50 tons per day.
Given the closest processor in Peru is more than 600 miles from Andrea SA plant, this gives a huge advantage in sourcing ore, to supplement the ore from the company leases.
All ore currently being processed at Andrea Gold SA production facility is averaging 12 grams per ton, this is extremely rare in the mining industry to be processing grades as high as this, along with the low wage environment, and modern, latest technology mill and floatation plant, continues to make this plant one of the most profitable operations anywhere in the world.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
MONARC CORP (NASDAQ:MONA) Uptrend Up Arrow Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops.
Based on a pre-defined weighted trend formula for chart analysis, MONA scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Monday
+20 Last Price Above 20 Day Moving Average
-25 New 3 Week Low, Week Ending October 25th
+30 New 3 Month High in September
+75 Total Score
NASDAQ_MONA
MonArc Corporation specializes in bringing high quality, private companies into the public markets. Currently, we are very active in China, where we have an excellent network of contacts that puts forward select candidate companies seeking to go public in North America or Europe.
We work across a wide variety of business segments. Our primary criteria include:
“We have realized one of the core competencies we have developed within MonArc, is the process of taking proven private companies public, providing growth opportunities to help them forward their business, and once they are ready to spread their wings, we can spin them off individually to generate their own long-term success”.
* Having a proven business model.
* Meaningful top-line revenue.
* We prefer to have a positive bottom line, but may make an occasional exception for companies of sufficient scale and proven market demand that have not yet achieved profitability.
* Have business models that can resonate and interest investors in the U.S. and Europe.
* High potential for continued, sustainable growth.
* A strong management team that has the ability to grow their business in a stable and controlled manner, and are, at the same time, willing to let us take the lead when it comes to corporate governance and market related issues.
The way we work, is we acquire the Company, usually via a share exchange agreement. For Chinese companies, this typically involves a two-stage process, wherein the Company is first vended in to an off-shore special purpose company, and then into MonArc. This can significantly cut down the amount of regulatory work required on the Chinese side of the equation.
MonArc then begins to create general awareness of the Company, its business model, prospects for success etc. Over a period of time, when we feel there is sufficient investor interest in a company that they can build a shareholder base on their own, we spin them off into a dedicated shell company, and hand them off to our network of strategic partners who provide the necessary financial, corporate and legal consulting roles and can shepherd them to continued success.
As part of the spin-off process, MonArc takes a position in the new public shell company, and distributes stock dividends to our own shareholder base. In addition, we also plan to add a share warrant or stock option opportunity to our shareholders so that they can participate more fully in the growth potential of these companies.
As such, an investment in MonArc is a diversified play in a number of different companies, mitigating the level of risk normally associated with over-the-counter stocks.
Currently, there are 5 different projects at various stages of completion. Even if only one of these spin-offs becomes a breakout success, our shareholders stand to be handsomely rewarded.
We also have a pipeline of future deals available to us that will provide an ongoing stream of projects. As we ramp up our operations over time, we will be able to handle more deals simultaneously. In addition, if we are successful in our efforts, the strategic partners with whom we work will increasingly want to participate in the next deal, adding to our capabilities to handle ever larger deals that may see us working with companies that are Nasdaq bound, or may go public on other major exchanges.
“One of the key lessons we learned in the past year, is that we don’t want to place our efforts in unproven companies”.
Another key component of our business model is on the ‘supply side’. We have a team working to acquire shell companies, perform the necessary due diligence processes and bring everything up to date in regards to the State filings, venue filings and filings with the SEC.
Our immediate plans include vending projects into 2 Pink Sheets companies, another 2 OTCBB companies and we are also considering a Frankfurt Exchange listing as we
http://www.monacorporation.com/company.html
Mona Read and decide
Tue, Oct 28, 2008•MonArc Corporation (MONA) Peru Mining Pink Sheet Filings
PR Newswire (Tue, Oct 28) Mon, Oct 27, 2008•MonArc Corporation (MONA) Peru Mining Due Diligence Trip
PR Newswire (Mon, Oct 27) Tue, Oct 21, 2008•MonArc Corporation (MONA) Update PP365 Sale of Assets to (RMDM) Cash Dividend
PR Newswire (Tue, Oct 21) Fri, Oct 17, 2008•MonArc Corporation (MONA) Closes Deal to Vend Out Innotrek to (RMDM) RMDM Entertainment Group
PR Newswire (Fri, Oct 17) Wed, Oct 15, 2008•MonArc Corporation (MONA) Announces Peru Mining Merger
PR Newswire (Wed, Oct 15) Mon, Oct 13, 2008•MonArc Corporation (MONA) Announces Planned Sale of Assets to (RMDM)
PR Newswire (Mon, Oct 13) Wed, Oct 8, 2008•MonArc Corporation (MONA) Sino Medica (3EM) Dividend
PR Newswire (Wed, Oct 8) Tue, Oct 7, 2008•MonArc Corporation (MONA) to Issue 20c Cash Dividend
PR Newswire (Tue, Oct 7) Mon, Oct 6, 2008•LandStar Inc (LDSR) Update To Its Current and Future Shareholders (MONA)
PR Newswire (Mon, Oct 6) •MonArc Corporation (MONA) to Receive $1.5 Million in Stock on Closing of Hubei Chuguan (LDSR)
PR Newswire (Mon, Oct 6) Fri, Oct 3, 2008•MonArc Corporation (MONA) and Land Star (LDSR) Joint Filing on Pink Sheets
PR Newswire (Fri, Oct 3) Tue, Sep 30, 2008•Mon Arc Corporation (MONA) Identifies Buyer For Its China Oil Recycling Assets (LDSR)
PR Newswire (Tue, Sep 30) Thu, Sep 18, 2008•MonArc (MONA) Business Development Corporation New Business Model
PR Newswire (Thu, Sep 18) Mon, Sep 15, 2008•MonArc Corporation (MONA) Reaches Preliminary Agreement to Acquire Hubei Chuguan Industry Co. Ltd.
PR Newswire (Mon, Sep 15) Thu, Sep 11, 2008•MonArc Corporation (MONA) PP365.com Division Reports Gaming Revenue
PR Newswire (Thu, Sep 11) Tue, Sep 9, 2008•MonArc Corporation (MONA) Begins Negotiations with Frankfurt Company to Spin-Off PP365.com and Innotrek
PR Newswire (Tue, Sep 9) Mon, Sep 8, 2008•MonArc Corporation (MONA) Closes Acquisition of China Based Direct Marketing Company
PR Newswire (Mon, Sep 8) Fri, Sep 5, 2008•MonArc (MONA) Anti-Dilution And 50 Million Share Buyback Program
PR Newswire (Fri, Sep 5) Thu, Sep 4, 2008•MonArc (MONA) PP365.com Completes Online Multi-Player Online Combat Game
PR Newswire (Thu, Sep 4) Tue, Sep 2, 2008•MonArc Corporation (MONA) Change Of Corporate Direction
PR Newswire (Tue, Sep 2) Thu, Aug 28, 2008•MonArc Corporation (MONA) Sale To China Marketing Company
PR Newswire (Thu, Aug 28) Wed, Aug 27, 2008•MonArc Corporation's (MONA) To Be Acquired by a Chinese Direct Marketing Company
PR Newswire (Wed, Aug 27) Mon, Aug 25, 2008•MonArc Corporation's (MONA) Attends Gaoxin Development Area Management Committee Conference
PR Newswire (Mon, Aug 25)
estimated value of at least 4-5 million dollars.
BEIJING, Nov. 24 /PRNewswire-FirstCall/ - MonArc Corporation www.monacorporation.com PINKSHEETS: MONA.PK MonArc management is pleased to announce the closing of the merger with Andrea Gold SA. This merger adds considerable value to MONA shares with the currently operating and producing Gold plant in Northern Peru and associated gold leases have an estimated value of at least 4-5 million dollars.
MonArc Corporation (MONA) Completes Peru Andrea SA Gold Mine Merger
Monday November 24, 7:30 am ET
BEIJING, Nov. 24 /PRNewswire-FirstCall/ - MonArc Corporation www.monacorporation.com PINKSHEETS: MONA.PK MonArc management is pleased to announce the closing of the merger with Andrea Gold SA. This merger adds considerable value to MONA shares with the currently operating and producing Gold plant in Northern Peru and associated gold leases have an estimated value of at least 4-5 million dollars.
ADVERTISEMENT
Key staff of Andrea SA are Mr.Alex Diaz, himself a US trained geologist and his partner Mr.Pablo Rodriguez a qualified metallurgist. Together they have put together an excellent team of experienced mining people and the project is a credit to them. MonArc Corporation intends to name both individuals as one of its officers and board members of the company shortly.
This project is not only an exploration opportunity, but a project in current production with the first full week's 24hr production producing in excess of 3 kg or 100 ounces of traditional Inca Gold and 1 kg of Silver. This is a spectacular result given production only began in August of this year, and is only processing about 50 tons per day.
Given the closest processor in Peru is more than 600 miles from Andrea SA plant, this gives a huge advantage in sourcing ore, to supplement the ore from the company leases.
All ore currently being processed at Andrea Gold SA production facility is averaging 12 grams per ton, this is extremely rare in the mining industry to be processing grades as high as this, along with the low wage environment, and modern, latest technology mill and floatation plant, continues to make this plant one of the most profitable operations anywhere in the world.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
COMPANY NEWS:
Mona Set To Merge With a Peru Exploration Company
http://www.monacorporation.com/perugoldmine/index.html
Preview the upcoming MONA TV commercial
http://www.monacorporation.com/
MONARC CORPORATION
http://www.stockta.com/cgi-bin/analysis.pl?symb=MONA&num1=691&cobrand=&mode=stock
(Other OTC: MONA.PK)
Last Trade: 0.0008
Trade Time: Nov 21
Change: 0.0000 (0.00%)
Prev Close: 0.0008
Open: 0.0008
Bid: N/A
Ask: N/A
1y Target Est: N/A
Day's Range: 0.0006 - 0.0008
52wk Range: 0.01 - 0.16
Volume: 12,860,000
Avg Vol (3m): 218,925
http://www.stockta.com/cgi-bin/analysis.pl?symb=MONA&num1=691&cobrand=&mode=stock
It's all rigged
For those in power, greed and corruption. A downward spiral to once a great Nation. Socialism, Marxism then Communism.
re Obama Warns On Economy: Works On Stimulus Plan
I believe that we need to unify to get our economy back on track. No time for debate with D vs R partisan egotism.
___________________________________________________________
CNBC.com
| 22 Nov 2008 | 10:48 AM ET
U.S. President-elect Barack Obama said Saturday that he was crafting an aggressive two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.
"If we don't act swiftly and boldly, most experts now believe that we could lose millions of jobs next year," the Democratic president-elect said in a weekly radio address.
Obama, who succeeds President George W. Bush on Jan. 20, said the economy could get worse before it gets better. "We now risk falling into a deflationary spiral that could increase our massive debt even further," he said.
Obama said the plan would aim to save or create 2.5 million jobs by January 2011 and would be "big enough to meet the challenges we face." Any additional jobs would offset what is expected to be a dismal employment picture in the near future.
A day after U.S. stock markets rallied on his reported choice of Timothy Geithner as Treasury secretary, Obama gave a bleak assessment of the economy in his most detailed comments on the subject since winning the Nov. 4 election.
In another pivotal appointment, New York Sen. Hillary Clinton appeared all but certain to become Obama's secretary of state, bringing his one-time main Democratic rival into the fold of his new administration.
The likely appointments of Clinton and Geithner, president of the New York Federal Reserve and a former Treasury official in President Bill Clinton's administration, underscored a centrist bent to the personnel decisions being made by Obama, who had a liberal record as a U.S. senator from Illinois.
Obama May Consider Summers as Bernanke Successor
Still, as fears grow that the economy could be in for one of its most severe downturns in decades, Obama is signaling anything but a middle-of-road approach on economic stimulus. He called in October for a $175 billion stimulus measure, but his radio speech suggested he was ready to push for a much larger package. He did not give a price-tag in the speech.
The two-year time frame for the stimulus further indicated a sizable proposal. Most such plans are aimed at covering a one-year period.
RISING UNEMPLOYMENT
The number of Americans joining the unemployment rolls surged to the highest in 16 years, up more than 540,000, the Labor Department said on Thursday. Government data also painted an increasingly dire picture of the housing market.
"The news this week has only reinforced the fact that we are facing an economic crisis of historic proportions," Obama said. Democratic sources said Obama had chosen Geithner to take the helm at Treasury and help pull the United States out of an economic nosedive.
U.S. stocks, which had been sinking all week, surged more than 6 percent on the news that Geithner, 47, had been selected. U.S. Treasuries fell and the dollar surged. Obama is expected to formally announce the pick of Geithner Monday, according to NBC.
Obama and his economic team have worked to lower expectations that he will be able to fix the economic challenges right away, a theme he reiterated in his address. "There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better," Obama said.
Obama said he had directed his economic team to draft the stimulus proposal and predicted the Democratic-led Congress would quickly approve it for his signature.
"We'll be working out the details in the weeks ahead but it will be a two-year, nationwide effort to jump-start job creation in America and lay the foundation for a strong and growing economy," Obama said.
Congressional Democrats have promised to make a broad economic stimulus a top priority when they reconvene in January.
The package is expected to include middle-class tax cuts and billions of dollars for public works projects, such as the construction of roads, bridges and mass transit.
Hobbled U.S. automakers are negotiating with lawmakers and the White House over a bailout package they say is urgently needed. While supporting the idea of a cash infusion for the automakers, Obama has kept a low profile in that debate.
Wall Street Cheers Choice Of Geithner for Treasury Kudlow: Early Thoughts On Tim Geithner At Treasury
© 2008 CNBC.com
URL: http://www.cnbc.com/id/27855899/
Progress is good
News: MonArc Corporation (MONA) Completes Peru Visit Andrea SA Gold Mine
7:50 p.m. EST Nov. 21, 2008
BEIJING, Nov 21, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation www.monacorporation.com PINKSHEETS: MONA.PK management representatives have completed their on-site inspection of the Andrea Gold mine operation in Peru.
While the MonArc team is still traveling they have been able to provide a top line summary of the results of their field work. The have had the opportunity to view the current operations of the mine, led by a geologist familiar with this particular gold play.
In addition, they were fully briefed on the status of the assays to date, and the progress being made to complete its form 43-101 filing, which will provide an analysis of the proven and probable reserves of the mine based on industry standard requirements.
MonArc CEO, Mr. Yong Chan advises; "Based on these initial reports, all parties are eager to finalize this acquisition. We are currently drawing up the necessary documents to complete the acquisition, and anticipate that the deal can close very shortly." Mr. Alex Diaz President of Andrea SA Mine in Peru (targeted merger company) said "We are pleased to have met the MONA management and their advisors and I'm particularly pleasantly impressed with MONA executive management and its corporate Secretary Mr. Winters. While we were approached by others for the merger and business cooperation Andrea SA and its managers feel that MONA is the best fit for all concerned."
The Company will provide additional updates as information continues to come in from the field, and expects to have the team back next Wednesday, the 26th of November.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
$170,746/0.0008=213 432 500 Shares Outstanding,
the same as of Sep 30th! Sounds good to me!
************************************************************
Estimated Market Cap
$170,746 as of Nov 20, 2008
*
Outstanding Shares
213,432,988 as of Sep 30, 2008
*
Authorized Shares
650,000,000 as of Sep 30, 2008
*
Number of Share Holders of Record
381 as of Sep 23, 2008
*
Float
213,432,988 as of Sep 23, 2008
$170,746/0.0008=213 432 500 Shares Outstanding, the same as of Sep 30th!
I am not giving up Yet
and I am Cautiously Optimistic.
You ask:
All you suppossed people supporting this, could you please explain to me where the pdrexchange.com went?
Read the PNMS Blogs
http://blog.panamersa.net/
Volume 20,363,667
EOM
Not me
News for 'MONA' - (MonArc Corporation (MONA) Announces Details Regarding Cash Dividend)
BEIJING, Nov 19, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation
(http://www.monacorporation.com) PINKSHEETS: MONA.PK (http://mona.pk/) is
pleased to provide details regarding the cash dividend previously announced.
The dividend of $0.20 per share will be paid on December 1, 2008. The dividend
will be distributed to shareholders who have continuously held company stock
since September 30, 2005 (the record date).
The company will provide further updates as they become available. The company
also expects to make a series of other dividend payments in the last quarter of
this year. Details on these dividends will be announced very shortly, and
through a separate news release.
Safe Harbour statement under the Private Securities Litigation Reform Act of
1995: Certain information contained in this release contains forward-looking
statements that involve risk and uncertainties, including but not limited to,
those relating to development and expansion activities, domestic and global
conditions, and market competition.
Get the Facts Right. The issuer works hard to continue to keep our shareholders
informed, and news is updated frequently via Press Releases, Pink Sheet
(www.pinksheets.com) filings, and updates to our websites. Other websites not
sponsored, or recognized by the Company may provide misleading or disinformation
to investors in order to manipulate trading patterns for a given stock. Always
look for original content from trusted sources, rather than relying on
'excerpts' or discussion boards that may not give you the whole story. The
Securities and Exchange Commission requires financial institutions or brokerage
firms to provide their clients with documentation, describing the risks of
investing in penny stocks.
CONTACT: For corporate matters contact: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
The MM's can cross-trade among themselves
to show weakness and induce selling, or they can cross-trade to show strength to induce buying . They control all OTCBB and OTC stocks because there is no supervision in by the SEC .
It is likely there is a substantial short ( NSS ) position in MONA so the (Honest) MM's will do whatever they want to the stock price until material news compels them to take the PPS up .
The best remedy, buy the dips to counteract the MM manipulation so when their colluded plan backfires it will compel them to raise the B/A .
Nov. 17 a series of dividend payments previously announced very shortly as well.
BEIJING, Nov. 17 /PRNewswire-FirstCall/ -- Mon Arc Corporation http://www.monacorporation.com/ PINKSHEETS: MONA.PK is pleased to announce that it has completed its due diligence on the Peru mining project and that it is in the final stages of finalizing the transaction with the principals of the Peru mining project. The company will issue various due diligence reports and its findings via filings on pink Sheets on this project to its shareholders and followers. This will also be followed up with a new web site that is entirely mining based.
The company expects to close this transaction within the next 7-10 days and does not foresee any delays or complications.
Mr.Yves Yang a spokesperson with the company said as previously announced "We continue discussions with an already established mining company who continues to express serious interest in our new Peruvian mine venture. Talks are also on going with a Chinese educational school for the PP365.Com assets. We remain focused and are moving on both fronts with both of these deals, meaning sale of assets of PP365 and merger with the Peruvian mining company. Realistically speaking it is quite possible that both of these transactions may very well come to fruition by the end of this quarter"
The company will provide further updates as they become available. The company also expects to make a series of dividend payments previously announced very shortly as well.
Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet http://www.pinksheets.com/ filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.
CONTACT: For corporate matters contact:
DATASOURCE: MonArc Corporation (MONA)
CONTACT: For corporate matters contact:
<< Back
OK Thanks
Wait and see is all we can do.
Insiders Buy Link
http://www.insidercow.com/
Insiders bought 1.2 million shares Thursday
09:24 am Citigroup (C)
The job cuts keep coming in the financial services industry.
Beginning this week, Citigroup (C 9.45) will start cutting 10,000 global employees in its investment bank and other divisions, or 2.8% of its 352,000 work force, The Wall Street Journal reported, citing sources.
Citi has already cut 23,000 jobs in the last four quarters, with a goal to bring Citi's work force down to 290,000 by next year, according to one of the Journal's sources.
In an additional effort to return to profitability, Citi plans to raise interest rates on millions of its 54 million credit card customers.
Citigroup has been one of the hardest hit financial firms since the credit market turmoil began, with $68.1 billion in write-downs and credit losses, resulting in its stock price plummeting 80%.
Top Citi executives believe they will be able to turn around the company -- The Wall Street Journal reported that executives bought 1.2 million shares Thursday when the stock fell to $8.27 per share, its lowest level since the 1990s.
I hope Pedro is traveling
To meet MT and get the final details as he stated in the last Blog. It would seem to me this should be Pedro's first priority to clear this up for all parties involved.
Thursday, November 13, 2008
Traveling
Good Morning Panamericans:
Please be advised that I will be traveling from Thursday until Monday and I will be available again to communicate with you this Tuesday, November 18th, 2008.
Best regards Pan Americans,
Pedro Borges Fiol
Founder-Protector
FUNDAPAN
- PAN NEWS Network -
posted by Panamersa at 8:08 AM
AIG Elects Dennis D. Dammerman to Board of Directors
Wednesday November 12, 4:31 pm ET
NEW YORK--(BUSINESS WIRE)--The Board of Directors of American International Group, Inc. (AIG) has elected Dennis D. Dammerman a Director.
Mr. Dammerman is currently Chairman of the Board of Directors of Discover Financial Services, Lead Director of Capmark Financial Group Inc. and a Director of BlackRock, Inc. He retired in 2005 as GE Vice Chairman of the Board and Executive Officer, and a member of the Corporate Executive Office.
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Mr. Dammerman’s retirement followed a 38-year career at GE. He had served on the GE Board of Directors since 1994, as Chairman and Chief Executive Officer of GE Capital Services since 1998, and as a Director of GE Capital Services for 16 years. He joined General Electric in 1967 in the financial management program in GE Appliances. He held a succession of financial management and business leadership positions before being named Chief Financial Officer of GE in 1984.
In 1994, Mr. Dammerman was named Chairman and Chief Executive Officer of Kidder, Peabody Group, Inc., retaining his position as GE Chief Financial Officer. He returned full time to his position as Chief Financial Officer of GE in 1995 when Kidder Peabody was sold to PaineWebber.
“Dennis Dammerman is a distinguished and respected executive who brings to the AIG Board a singular record of experience in financial management and financial services,” said Edward J. Liddy, AIG Chairman and Chief Executive Officer. “I am delighted that he has agreed to join the Board of AIG at this crucial time, and I look forward to the benefit of his wise counsel.”
Mr. Dammerman graduated from the University of Dubuque and is currently a Trustee of Skidmore College and the New York Racing Association.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Contact:
American International Group, Inc.
Joe Norton, 212-770-3144
Director of Public Relations
The Gov bought AIG toxic assets, Good Deal
After buying the toxic assets from AIG this week, Gov the Fed has changed the program and will not be buying any more, just the AIG deal, This is good news for AIG and we shareholders.
Also this PR Yesterday may be a sign that something behind the scenes is going on with Large AIG Shareholders and the Government.
Large AIG holders keen for government to scale back stake
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33496628
WASHINGTON -- Secretary Henry Paulson said the Treasu ry has put a plan to purchase illiquid mortgage-related assets on hold.
Meanwhile, the Treasury Department, signaling a new p hase in its $700 billion financial-rescue plan, is cons idering requiring that firms seeking future government money raise private capital in order to qualify for pub lic assistance, according to people familiar with the m atter.
The move isn't expected to apply to the existing $250 billion capital-purchase program, which is already inj ecting money into banks. But Treasury is considering at taching such conditions to any of its future capital in vestments, these people said.
Associated Press
Treasury Secretary Henry Paulson calls on a reporter during a news conference Wednesday.
"We are carefully evaluating programs which would fur ther leverage the impact of a TARP investment by attrac ting private capital, potentially through matching inve stments," Treasury Secretary Henry Paulson said in a br oad speech on the Troubled Asset Relief Program, known as TARP, the global credit crunch and the government's recent steps to address the financial meltdown. "In dev eloping a potential matching program; broadening access in this way would bring both benefits and challenges."
At the same time, Treasury is unlikely to conduct any auctions to purchase bad loans and other troubled asse ts -- the original intention of the $700 billion rescue plan. Instead, Treasury is expected to continue focusi ng its firepower on injecting capital directly into the financial sector, these people said.
"Our assessment at this time is that this is not the most effective way to use TARP funds, but we will conti nue to examine whether targeted forms of asset purchase can play a useful role, relative to other potential us es of TARP resources, in helping to strengthen our fina ncial system and support lending," he said, according t o his prepared remarks.
House Financial Services Chairman Barney Frank (D., M ass.) said that Treasury disagreed with the plan to put asset purchases on hold. "We have a need to use that f unding" for that purpose, Mr. Frank said at a hearing o n Capitol Hill. Mr. Frank noted that Congress gave Trea sury explicit authority to buy up mortgage-backed secur ities and whole mortgage loans as part of TARP.
Treasury has just $60 billion left in its rescue fund , and either the current or next administration will ha ve to turn to Congress to request the second half of th e promised $700 billion. Treasury has so far committed $250 billion to banks and is spending an additional $40 billion to buy preferred shares in American Internatio nal Group Inc., the big insurer.
View Full Image
Landov
Neel Kashkari runs the Treasury's TARP program, which is unlikely to conduct any auctions to purchase bad lo ans and other troubled assets -- the original intention of the $700 billion financial-industry rescue plan.
Treasury is expected to widen its program to inject c apital into smaller, closely held banks, and is conside ring expanding its rescue to other nonbank financial in stitutions, such as insurers and specialty-finance comp anies. It may also do another round of financing for pu blicly traded banks. In addition, Treasury is under inc reasing pressure from Democrats in Congress to open the program to the ailing auto sector.
In another step, U.S. bank regulators could announce guidelines this week designed to encourage U.S. banks t o remain active lenders as financial markets are squeez ed. Many U.S. companies and individuals have become dep endent on bank credit lines as financial markets have t ightened up. The regulatory guidelines could also addre ss sensitive issues of bank dividend payments and execu tive pay.
Paulson says troubled assets will not be purchased
Wednesday November 12, 11:23 am ET
By Martin Crutsinger, AP Economics Writer
Paulson: bailout program won't purchase troubled assets; focus remains on financial markets
WASHINGTON (AP) -- Treasury Secretary Henry Paulson said Wednesday the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.
Paulson said the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.
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He announced a new goal for the program to support financial markets, which supply consumer credit in such areas as credit card debt, auto loans and student loans.
Paulson said that 40 percent of U.S. consumer credit is provided through selling securities that are backed by pools of auto loans and other such debt. He said these markets need support.
"This market, which is vital for lending and growth, has for all practical purposes ground to a halt," Paulson said.
The administration decided that using billions of dollars to buy troubled assets of financial institutions at the current time was "not the most effective way" to use the $700 billion bailout package, he said.
The announcement marked a major shift for the administration which had talked only about purchasing troubled assets as it lobbied Congress to pass the massive bailout bill.
Paulson said the administration is exploring other options, including injecting more capital into banks on a matching basis, in which government funds would be supplied to banks that were able to raise capital on their own.
AIG Short interest on the New York Stock Exchange fell 0.9
percent in late October, the exchange said on Tuesday. For story please see Nov 11 (Reuters) -
[ID:nWNA9081].
Below are the five NYSE stocks that experienced the largest increases and
decreases in their short positions from mid-October to late October, according
to information released by the exchange.
The five companies with the largest overall short positions are also
listed.
The latest data is as of Oct. 31, while the previous period's data is as of
Oct. 15.
COMPANY OCT 31 OCT 15 NET CHANGE PCT CHANGE
------------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) 44,033,719 23,863,914 20,169,805 84.5
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) 38,207,875 19,050,106 19,157,769 100.6
FIVE BIGGEST DECREASES:
National City (NCC.N: Quote, Profile, Research, Stock Buzz) 32,937,779 62,263,634 -29,325,855 -47.1
Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz) 72,780,430 91,038,382 -18,257,952 -20.1
Coeur d'Alene (CDE.N: Quote, Profile, Research, Stock Buzz) 54,304,431 71,889,664 -17,585,233 -24.5
Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz) 76,815,406 93,144,960 -16,329,554 -17.5
Masco Corp (MAS.N: Quote, Profile, Research, Stock Buzz) 21,931,404 36,355,887 -14,424,483 -39.7
FIVE BIGGEST POSITIONS:
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) 306,214,568 295,094,794 11,119,774 3.8
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
General Motors (GM.N: Quote, Profile, Research, Stock Buzz) 102,575,682 93,598,425 8,977,257 9.6
Source: NYSE data as of Oct. 31, Reuters Estimates
(Compiled by Emily Chasan)
Short interest on the New York Stock Exchange fell 0.9
percent in late October, the exchange said on Tuesday. For story please see Nov 11 (Reuters) -
[ID:nWNA9081].
Below are the five NYSE stocks that experienced the largest increases and
decreases in their short positions from mid-October to late October, according
to information released by the exchange.
The five companies with the largest overall short positions are also
listed.
The latest data is as of Oct. 31, while the previous period's data is as of
Oct. 15.
COMPANY OCT 31 OCT 15 NET CHANGE PCT CHANGE
------------------------------------------------------------------------------
FIVE BIGGEST INCREASES:
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) 44,033,719 23,863,914 20,169,805 84.5
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) 38,207,875 19,050,106 19,157,769 100.6
FIVE BIGGEST DECREASES:
National City (NCC.N: Quote, Profile, Research, Stock Buzz) 32,937,779 62,263,634 -29,325,855 -47.1
Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz) 72,780,430 91,038,382 -18,257,952 -20.1
Coeur d'Alene (CDE.N: Quote, Profile, Research, Stock Buzz) 54,304,431 71,889,664 -17,585,233 -24.5
Sprint Nextel (S.N: Quote, Profile, Research, Stock Buzz) 76,815,406 93,144,960 -16,329,554 -17.5
Masco Corp (MAS.N: Quote, Profile, Research, Stock Buzz) 21,931,404 36,355,887 -14,424,483 -39.7
FIVE BIGGEST POSITIONS:
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) 306,214,568 295,094,794 11,119,774 3.8
Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz) 151,395,003 132,089,142 19,305,861 14.6
Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 138,025,457 116,765,920 21,259,537 18.2
AIG (AIG.N: Quote, Profile, Research, Stock Buzz) 135,664,651 93,650,951 42,013,700 44.9
General Motors (GM.N: Quote, Profile, Research, Stock Buzz) 102,575,682 93,598,425 8,977,257 9.6
Source: NYSE data as of Oct. 31, Reuters Estimates
(Compiled by Emily Chasan)
AIG CEO Liddy on Larry King Live tonight
http://www.cnn.com/CNN/Programs/larry.king.live/
Large AIG holders keen for government to scale back stake
"Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG."
Large AIG holders keen for government to scale back stake
Tue Nov 11, 2008 3:20pm EST
NEW YORK (Reuters) - Some of AIG's largest shareholders are working to convince federal officials to scale back U.S. ownership of the giant insurer as private investors step forward to inject capital, a lawyer representing investors said on Tuesday.
Mickey Kantor, a partner with Mayer Brown based in Washington D.C., said the U.S. Treasury and Federal Reserve had taken a "step forward, and deserve a tremendous amount of praise" for a deal reached on Monday that revised a September rescue of American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) as it neared bankruptcy.
The shareholders Kantor represents had been pushing for revisions since the federal government stepped in to inject $85 billion in emergency funds on September 16 in exchange for a nearly 80 percent stake.
"We believe one more step should be taken, and that is to allow private capital back into the firm," Kantor told Reuters in a telephone interview.
"That would mean the Fed and Treasury would negotiate some sort of agreement. To the extent that private capital is raised, they lower the percentage of AIG held by the federal government. That is what we are working toward."
The U.S. Treasury and Federal Reserve on Monday agreed to invest $150 billion in AIG, including $40 billion for preferred shares paying a 10 percent dividend, and $60 billion under a 5-year credit facility with a lower interest rate than the earlier agreement. Another $50 billion would be used to buy toxic mortgage assets, including those underlying AIG credit default swaps which have cost it billions of dollars in losses.
AIG shareholders have been heavily diluted by the federal rescue since it gave the United States majority ownership.
Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG.
(Reporting by Lilla Zuill, additional reporting by Joan Gralla, editing by Richard Chang)
CEO Liddy on Larry King Live tonight
http://www.cnn.com/CNN/Programs/larry.king.live/
Large AIG holders keen for government to scale back stake
"Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG."
Large AIG holders keen for government to scale back stake
Tue Nov 11, 2008 3:20pm EST
NEW YORK (Reuters) - Some of AIG's largest shareholders are working to convince federal officials to scale back U.S. ownership of the giant insurer as private investors step forward to inject capital, a lawyer representing investors said on Tuesday.
Mickey Kantor, a partner with Mayer Brown based in Washington D.C., said the U.S. Treasury and Federal Reserve had taken a "step forward, and deserve a tremendous amount of praise" for a deal reached on Monday that revised a September rescue of American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) as it neared bankruptcy.
The shareholders Kantor represents had been pushing for revisions since the federal government stepped in to inject $85 billion in emergency funds on September 16 in exchange for a nearly 80 percent stake.
"We believe one more step should be taken, and that is to allow private capital back into the firm," Kantor told Reuters in a telephone interview.
"That would mean the Fed and Treasury would negotiate some sort of agreement. To the extent that private capital is raised, they lower the percentage of AIG held by the federal government. That is what we are working toward."
The U.S. Treasury and Federal Reserve on Monday agreed to invest $150 billion in AIG, including $40 billion for preferred shares paying a 10 percent dividend, and $60 billion under a 5-year credit facility with a lower interest rate than the earlier agreement. Another $50 billion would be used to buy toxic mortgage assets, including those underlying AIG credit default swaps which have cost it billions of dollars in losses.
AIG shareholders have been heavily diluted by the federal rescue since it gave the United States majority ownership.
Kantor, a former U.S. Secretary of Commerce in the Clinton administration, is working with 21 AIG shareholders, including money managers Dodge & Cox, Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz), the $125 billion New York State Common fund, and Eli Broad, a large individual shareholder and former director of AIG.
(Reporting by Lilla Zuill, additional reporting by Joan Gralla, editing by Richard Chang)
TradingMarkets 7 Stocks You Need to Know for Wednesday
Tuesday November 11, 3:37 pm ET
By TradingMarkets Research
Stocks continued to move lower on Tuesday following Friday's bump higher. The Dow, Nasdaq and S&P 500 have closed down for four out of the past five trading days.
The Dow lost 176.58. The Nasdaq Composite closed lower by 35.84. And the S&P 500 ended the day down 20.26.
ADVERTISEMENT
Here are 7 Stocks You Need to Know for Wednesday
American Express (NYSE:AXP - News) successfully petitioned the Federal Reserve to become a bank, following the lead of investment banks Goldman Sachs and Morgan Stanley. The Short Term PowerRating for AXP is 5.
Macy's (NYSE:M - News) is expected to announce a quarterly EPS loss of 0.19 Wednesday morning before the markets open. The Short Term PowerRating for M is 5.
Citigroup (NYSE:C - News) announced that it would suspend foreclosures and modify mortgages to make it easier for many homeowners to keep their homes. The Short Term PowerRating for C is 5.
Applied Materials (NasdaqGS:AMAT - News) will report quarterly earnings Wednesday after the market closes. Analysts are expecting EPS of 0.14. The Short Term PowerRating for AMAT is 6.
Additional quarterly losses for American International Group (NYSE:AIG - News) mean that insurance giant's taxpayer bailout will nearly double to $150 billion. The Short Term PowerRating for AIG is 3.
The cash crunch at General Motors (NYSE:GM - News) has increasingly drawn the attention of lawmakers as the automaker slides closer to bankruptcy. The Short Term PowerRating for GM is 7.
Fears of weaker PC demand led to selling in shares of Intel (NasdaqGS:INTC - News) on Tuesday. The lowered earnings and share price projections come at a time of traditionally strong seasonality for technology stocks. The Short Term PowerRating for INTC is 5.
Do you think Intel will be Up or Down on Thursday? Go to TradingMarkets.com to play the TradingMarkets' Up or Down Stock Contest for your chance to win $1,000 a month by correctly guessing the direction of a stock!
imshredin2 case in point
your return post to another poster who distorts News.
"It seems people are looking so hard for a villin to blame all this crisis on they don't really care what the facts are."
**********************************************************
Your Post
Let's get the facts straight. They were LOANED the money at 14% (nice return for the Gov) with 2 years to sell off parts of their 1.2 Trillion in assets to repay the loan. They weren't mortgage loan makers as much as they just invested in the paper. This new deal gives them a 6% rate and 5 years to pay it back. That takes the pressure off selling at fire sale prices. They are getting Loans because they have the very real ability to pay them back. The majority business of AIG is insurance and that division is doing great and is profitable. The bad PR is due to the business as usual attitude at the insurance unit that is not the root of the problem so they don't think they should change how they do business. If you don't take care of the people (agents,sales mgrs, etc) that bring in the business they might take it some where else.