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Insight: Greek exit could cost eurozone 100s of billions of euros
(Reuters) - A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill.
http://www.reuters.com/article/2012/05/17/us-ecb-greece-idUSBRE84G0DA20120517
Spanish Government Twits Issue Decree: DON'T WORRY, BE HAPPY!
UPDATE: Spain Defends Austerity, Slams Critics, As Yields Surge
http://online.wsj.com/article/BT-CO-20120516-705379.html
Stay tuned.
Wednesday, May 16, 4:31 AM The ECB is increasingly refusing liquidity requests from Greek banks, according to "sources in Brussels," leaving Greek banks dependent on support from Greece's central bank. According to the report in Dutch financial daily Financieele Dagblad, Greek banks are now receiving less than half the €73B in ECB liquidity support they had at the end of January.
http://seekingalpha.com/currents/post/318931
Now on Marketwire
Aurizon Mines Ltd.: New Drill Results Highlight the Potential Extension of Zone 123 and Have Identified Additional Stacked Lenses at the Casa Berardi Mine
VANCOUVER, BRITISH COLUMBIA, May 15, 2012 (MARKETWIRE via COMTEX) -- Aurizon Mines Ltd. CA:ARZ -7.48% AZK -8.16% is pleased to report additional results from the 2011-2012 drill program on Zone 123 at its Casa Berardi Mine in north-western Quebec.
http://www.marketwatch.com/story/aurizon-mines-ltd-new-drill-results-highlight-the-potential-extension-of-zone-123-and-have-identified-additional-stacked-lenses-at-the-casa-berardi-mine-2012-05-15-731280?reflink=MW_news_stmp
Recommended Reading (Don't worry about the headline; it's a head fake, just like the myth about the "stronger dollar")
Gold Losing Battle Versus U.S. Dollar In 2012 (GLD, SLV, IAU, UUP, UDN)
The dollar is not “strengthening” – that is an outright lie. It is simply plummeting a little less slowly than the other (worthless) paper. Example: two people jump off a 100-storey building at the same time. While falling, one of the individuals climbs on top of the shoulders of the other one.
Has that individual “strengthened” himself? Obviously not. He will simply go “splat” a millisecond later.
http://etfdailynews.com/2012/05/15/gold-losing-battle-versus-u-s-dollar-in-2012-gld-slv-iau-uup-udn/
This may be a do or die year for EKCS based on the ugliness in the 10Q filed yesterday. This one hopeful item popped up at the very end of the report, but I don't recommend reading anything else in the filing.
Subsequent Event – Contract Award
On May 4, 2012, ECSI was advised that a contract was awarded to a team, of which ECSI is a member, for support and technology services to the Department of Defense (“DoD”). The cumulative contract ceiling of the award to include five prime contractors and their respective subcontractors is $228,700,000 over five years. The contract ceiling for the ECSI team in the base year is $39,800,740. The contract is an Indefinite Delivery Indefinite Quantity (“IDIQ”) contract, and the work to be performed under it will be awarded to the five teams on individual task orders on a competitive basis. There is no assurance that ECSI will be awarded work under any task orders on the contract.
The contract is in response to initiatives promulgated by the DoD and other Government agencies, require engineering development, design, procurement, fabrication of entry control and perimeter detection technologies, installation, information assurance, logistics, maintenance, and life cycle support services for Infrastructure Protection purposes. These systems will support the operational requirements of high value DoD and other Government agencies where security is of high or vital interest.
Wal-Mart results could move investors past bribe probe
http://www.reuters.com/article/2012/05/15/us-walmart-idUSBRE84E16W20120515
Greek coalition talks collapse, second election set
Attempts to form a government in Greece collapsed on Tuesday, jolting financial markets at the prospect leftists opposed to the terms of an EU bailout could sweep to victory in a June election and nudge the euro zone crisis into a dangerous new phase.
http://www.reuters.com/article/2012/05/15/eurozone-idUSL5E8GFJQS20120515
EURO GOVT-Bunds rise as Greece heads to new election
German government bonds rose sharply and Italian 10-year yields hit 6 percent on Tuesday as Greece said it will hold new elections after politicians failed to agree on a government..
http://www.reuters.com/article/2012/05/15/markets-bonds-euro-idUSL5E8GFDGG20120515
Greek government talks turn ugly
http://www.cnn.com/2012/05/13/world/europe/greece-politics/?hpt=hp_t1
Greek parties scramble to avert new vote
By Harry Papachristou and Tatiana Fragou
ATHENS (Reuters) - The leaders of Greece's once-dominant political parties made a last push on Friday to form a coalition and avert a new election, which a poll showed would all but wipe them out and give victory to a radical leftist who rejects an EU bailout.
The overwhelming majority of Greeks want to stay in the euro zone but voted last Sunday for parties that reject the severe terms of a bailout negotiated last year. European leaders say Greece will be ejected from the common currency if it turns its back on the package of tax hikes and wage cuts.
Socialist PASOK leader Evangelos Venizelos, whose party once towered over Greek politics but placed a distant third in election, is the last politician given a chance to form a government.
He met conservative rival Antonis Samaras, whose New Democracy party came first in the election, but who has already failed to form a coalition. If Venizelos fails as well, all parties will have one last chance to try before a new election must be held in the coming three to four weeks.
After the meeting, Samaras told lawmakers from his party he was trying to avert a new election but was not afraid of one.
"We are fighting to form a government and there are still hopes for this," he said.
A new vote could be catastrophic for Samaras, whose party benefited on Sunday from a rule that gives 50 bonus seats to the group that placed first in the election.
In a re-run vote he stands to lose those seats - more than a third of the pro-bailout contingent in the 300-seat parliament - to radical leftist Alexis Tsipras, making it inconceivable that a new government would back the bailout.
PASOK and New Democracy jointly negotiated the 130 billion euro ($168.5 billion) EU/IMF bailout in a reluctant coalition last year and now are the only parties in parliament that support it.
Enraged voters punished them by reducing their combined share of the vote from 77 percent to 32 percent at last Sunday's election, leaving them two seats short of forming a coalition government.
Samaras and Venizelos may be hoping Greeks, frightened by the prospect of hasty ejection from the euro, will return to the two traditional mainstream parties if the election is re-run next month.
But a new poll showed the main beneficiary of a new vote would be Tsipras's Left Coalition SYRIZA. Tsipras, 37, rejects the bailout and has demanded it be torn up.
The first opinion poll to be published since the election showed SYRIZA would win with 27.7 percent of the vote, almost 11 points up on their election result, consolidating votes that had been split among smaller anti-bailout groups.
If SYRIZA were to win the 50 bonus seats for first place, the marginalization of the once-mighty parties that have ruled Greece for generations would be complete and the bailout would be a dead letter.
ECUMENICAL GOVERNMENT
Venizelos's hope of reaching a last-ditch deal have rested with the Democratic Left party, a small moderate group.
But its leader, Fotis Kouvelis, insisted on Friday he would not join a coalition with the pro-bailout parties unless anti-bailout parties were also included and the new government gradually withdrew from the loan deal.
"Our proposal for an ecumenical government seeks to ensure the participation of all those forces that can serve two aims: the gradual disengagement from the loan agreement and staying in the euro zone", Kouvelis told Skai TV.
One socialist party official said on Thursday there was a "very slim" chance for a coalition if Kouvelis agreed, "but his party is split right down the middle."
Samaras said Kouvelis's proposal for an all-party government was not far from his own position. But it is hard to see Tsipras agreeing to join it unless it decisively repudiates the bailout.
The political deadlock has prompted warnings by European leaders that Greece could be thrown out of the euro if it does not stick to the spending cuts and economic reforms required by the bailout.
German Finance Minister Wolfgang Schaeuble said Europe and the International Monetary Fund were still determined to help Greece, but the country could not be helped if it did not help itself.
The EU and IMF say they will not give Greece any more money under the bailout until it has a government in place that renews its commitment to the terms agreed last year. Greece could run out of money as soon as the end of June if the loans stop.
"We do not have an infinite amount of time. Time is flying because there are financing needs, but the first steps have to be taken now from the Greek side," European Central Bank governing council member Ewald Nowotny said in Vienna.
A senior SYRIZA party official said European leaders were bluffing by threatening to eject Greece from the euro.
"Not only can't Greece be kicked out of the euro, they will be begging us to take the money," because if Greece were kicked out the crisis would spread to other European countries and the euro would collapse, said Dimitris Stratoulis.
The prospect that Greece might declare bankruptcy and be pushed out of the euro caused panic across the single currency zone last year. But since then, European banks have written off the value of most of their Greek debt, which makes them less susceptible to shock if Greece should default.
(Writing by Peter Graff; Editing by David Holmes and Janet McBride)
http://www.reuters.com/article/2012/05/11/us-greece-idUSBRE8440DG20120511?feedType=RSS&feedName=topNews&rpc=71
Euro Economy to Shrink as Spain, Italy Re-Enter Recession
The euro-region economy will return to growth in 2013 with only Spain among its 17 members remaining in recession, the European Commission said.
Gross domestic product will rise 1 percent in 2013 after declining 0.3 percent in 2012, the commission said today. While Greece will have the deepest slump this year, with GDP declining 4.7 percent, the economy may be unchanged in 2013. Italy and Portugal will return to growth next year. Spain’s economy may shrink 1.8 percent this year and 0.3 percent in 2013.
The report comes against a backdrop of renewed market turbulence after an anti-austerity revolt saw voters punish administrations at the ballot box in Greece and France. With the area’s economic slump deepening and unemployment at the highest in 15 years, governments may struggle to restore investor confidence. Fifty-seven percent of respondents in a Bloomberg Global Poll said at least one country would abandon the euro this year.
“The outlook continues to be surrounded by high uncertainty,” the Brussels-based commission said in the report. “The largest downside risk remains an escalation of the sovereign-debt crisis in the euro area. A resurgence of financial turmoil due to negative confidence shocks would spill over to the real economy and reinforce negative feedback loops between fragile banks and weak sovereigns.”
The euro was little changed after the report, trading at $1.2948 at 11:15 a.m. in Brussels.
Rising Unemployment
A euro-region contraction this year would be the first since 2009, when the U.S.-led banking crisis exposed the excessive borrowing and imbalances that plunged Europe into its sovereign debt troubles. In the 27-member European Union, GDP may remain unchanged this year and increase 1.3 percent in 2013, the commission said.
Adding to signs of a deepening slump after a 0.3 percent contraction in the fourth quarter, euro-area unemployment rose to 10.9 percent in March, economic confidence dropped last month to the lowest since December and manufacturing output fell.
Euro-region unemployment will probably average 11 percent this year, up from 10.2 percent in 2011, with Spain’s jobless rate the highest among members states at 24.4 percent, today’s report showed. In Greece, unemployment may increase to 19.7 percent from 17.7 percent, the commission said.
Inflation Forecast
The latest growth projections went along with a euro-region inflation forecast of 2.4 percent for this year, curbing the European Central Bank’s scope for a further cut in its benchmark interest rate from 1 percent. The central bank aims to keep annual consumer-price gains just below 2 percent.
ECB President Mario Draghi said on May 3 that the region’s economic outlook has become “more uncertain” and left open the option of further stimulus. The central bank has injected more than 1 trillion euros ($1.3 trillion) into the banking system to fight the crisis and restore lending.
In elections in Greece last weekend, voters flocked to parties opposed to austerity measures backed by German Chancellor Angela Merkel, denying the two main parties a combined majority and spurring calls for policies to boost growth. German Finance Minister Wolfgang Schaeuble said on May 9 that “if Greece decides not to stay in the euro zone, we cannot force” them.
Unity Governnmet
“The best-case scenario at this stage seems to be one whereby Greece scrambles together some form of unity government, though its shelf life will be in doubt from the outset,” said Gillian Edgeworth, an economist at UniCredit in London in an e- mailed note. Elections may have “significantly escalated even the near-term outlook for Greece.”
Eighty percent of the 1,253 investors, analysts and traders who are Bloomberg customers said they expected more pain for Europe’s bond markets this year. Respondents to the May 8 survey were also increasingly worried Spain will default and 84 percent forecast the euro-region economy to worsen.
Greece’s slump may ease after the economy contracted 6.9 percent in 2011, the commission said. Portugal’s GDP is seen declining for a second straight year, while the Irish economy may expand 0.5 percent in 2012. All three countries received external aid over the past two years.
In Spain, which is suffering from the aftershocks of the burst housing bubble, compounded by fiscal austerity and surging unemployment, gross debt will average 80.9 percent of GDP in 2012, up from 68.5 percent, with the deficit seen at 6.4 percent, down from 8.5 percent, the commission said. In the euro area, the shortfall may average 3.2 percent in 2012.
Spanish Yields
Investor concern over Spain’s ability to reduce its budget shortfall has increased since Prime Minister Mariano Rajoy announced in March that the country will miss a 2012 deficit goal set by the EU. That pushed Spanish 10-year yields above 6 percent last month and propelled the cost of insuring the country’s bonds against default to a record.
Germany’s economy has helped soften the region’s slump as the lowest unemployment in two decades encouraged consumer demand and companies including carmaker Volkswagen AG (VOW) benefiting from thriving demand in emerging markets. German exports unexpectedly increased for a third month in March and business confidence jumped to the highest in nine months in April.
German GDP may rise 0.7 percent this year and 1.7 percent in 2013, according to the commission forecasts. In France, where Francois Hollande last weekend defeated Nicolas Sarkozy, becoming the first Socialist to win the presidency in 17 years, the economy is seen growing 0.5 percent and 1.3 percent this year and next, respectively.
To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
http://www.bloomberg.com/news/2012-05-11/euro-economy-to-shrink-as-spain-italy-re-enter-recession.html
Arena Says Obesity Drug Candidate Receives Positive Vote From FDA Advisory Panel
(RTTNews) - Arena Pharmaceuticals, Inc. (ARNA: News ) and Eisai Inc. (ESALY.PK: News ) said Thursday that lorcaserin, an investigational drug candidate intended for weight management, received positive vote from the US Food and Drug Administration's Advisory Committee. Arena shares soared in after-market trading.
The FDA Endocrinologic and Metabolic Drugs Advisory Committee voted 18 to 4, with one abstention, that the available data demonstrate that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals.
Jack Lief, Arena's President and CEO, said, "The advisory committee's positive vote supports our belief in lorcaserin as a potential new treatment option for the medical management of overweight and obesity. We will continue to work with the FDA as the agency completes its review of the lorcaserin new drug application."
Lorcaserin is intended for managing weight, including weight loss and maintenance of weight loss, in patients who are obese or patients who are overweight and have at least one weight-related co-morbid condition.
The drug candidate is a new chemical entity, believed to act as a selective serotonin 2C receptor agonist.
Arena has patents covering lorcaserin in jurisdictions such as the U.S. and Europe. In most cases, these patents are capable of continuing into 2023 without taking into account patent term extensions or other exclusivity Arena may obtain.
While advisory committees provide recommendations to the FDA, the agency makes the final decisions. The Prescription Drug User Fee Act date for the lorcaserin New Drug Application resubmission is June 27, which is the target date for the agency to complete its review.
Arena submitted the original NDA for lorcaserin in December 2009, and the agency issued a Complete Response Letter in October 2010. Arena resubmitted the lorcaserin NDA to the FDA in December 2011.
Eisai has exclusive rights to market and distribute lorcaserin in the U.S. subject to FDA approval of the lorcaserin NDA. The European Medicines Agency has accepted the lorcaserin marketing authorization application for filing in March 2012.
Arena said separately that it has expanded the lorcaserin marketing and supply agreement between Arena Pharmaceuticals, Inc.'s wholly owned subsidiary, Arena Pharmaceuticals GmbH, and Eisai Inc. In addition to the U.S., the territories in the expanded agreement now include most of North and South America, including Canada, Mexico and Brazil.
As per the original agreement, Arena will manufacture lorcaserin at its facility in Switzerland and sell finished product to Eisai for marketing and distribution, after regulatory approvals in the territories.
http://www.rttnews.com/1883397/arena-says-obesity-drug-candidate-receives-positive-vote-from-fda-advisory-panel.aspx?type=qf
Aurizon Reports First Quarter 2012 Financial Results
http://ih.advfn.com/p.php?pid=nmona&article=52356416&symbol=AZK
HIGHLIGHTS
EBITDA(1) of $22.3 million, 74% higher than $12.8 million in same quarter of 2011.
Net profit of $8.3 million, or $0.05 per share, 238% higher than $2.4 million, or $0.02 per share, for the same quarter in 2011.
Operating profit margin per ounce(1) increased 31% to US $1,011, due to higher realized gold prices.
Gold production of 33,488 ounces.
Cash balances of $199 million and no debt.
How do you spell OPPORTUNITY?
"The news was unrelentingly bad last week in Europe"
http://wallstreetsectorselector.com/2012/05/bad-week-in-europe-spells-opportunity-fxe-euo-ewp-ewi-efz/
Aurizon Mines Ltd. Announces First Quarter 2012 Conference Call & Webcast
May 1, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2012) - Aurizon Mines Ltd. (TSX:ARZ)(NYSE Amex:AZK) plans to announce its 2012 First Quarter financial results before market open on Thursday, May 10, 2012.
In addition, Aurizon management will host a conference call and live webcast for analysts and investors on Thursday, May 10, 2012 at 8:00 a.m. Pacific Daylight Time (11:00 a.m. Eastern Daylight Time) to review the results.
Conference Call Numbers:
Canada & USA Toll Free Dial In: 1-800-319-4610 or outside Canada & USA Call: 1-604-638-5340.
The call is being webcast and can be accessed at Aurizon's website at www.aurizon.com or enter the following URL into your web browser: services.choruscall.com/links/aurizon120510.html.
Those who wish to listen to a recording of the conference call at a later time may do so by calling: Canada & USA Toll Free: 1-800-319-6413 or outside Canada & USA: 1-604-638-9010, (Code: 1001#). A replay of the call will be available until Thursday, May 17, 2012.
Aurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most favourable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the NYSE Amex under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
U.S. Registration (File 001-31893)
News Release Issue No. 11 - 2012
FOR FURTHER INFORMATION PLEASE CONTACT:
Aurizon Mines Ltd.
George Paspalas
President & CEO
604-687-6600
Aurizon Mines Ltd.
Ian S. Walton
Executive Vice President and Chief Financial Officer
604-687-6600
Aurizon Mines Ltd.
Investor Relations
604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
jennifer.north@aurizon.com or info@aurizon.com
www.aurizon.com
Source: Aurizon Mines Ltd.
ECB Loans Plant Seeds of European Disintegration
http://www.bloomberg.com/news/2012-05-01/ecb-recyled-loans-plant-seeds-of-european-disintegration.html
Beginning of the end?
Shares turn lower on heightened euro zone concerns
http://www.latimes.com/business/la-fi-0503-adp-jobs-report-20120502,0,1140520.story
A rational Bullish View survives the gleeful, self loathing, orgy currently going on in the elitist, socialist, American business hater community.
A silver lining to Walmex bribery allegations
http://m.theglobeandmail.com/globe-investor/investment-ideas/breaking-views/a-silver-lining-to-walmex-bribery-allegations/article2412599/?service=mobile
22 Reasons The Spanish Economy Is Heading Into A Great Depression (EWP, VGK, SPY, IEV, EWJ, EUO, VWO)
http://online.wsj.com/article/BT-CO-20120430-712626.html
WMT on sale for a limited time?
"I plan to watch for a period of time hopefully be able to pick up some bargain shares well below my calculate fair value price of $68.69."
Wal-Mart Stores: Dividend Stock Analysis
http://seekingalpha.com/article/541671-wal-mart-stores-dividend-stock-analysis
WE ARE NOT ASKING YOU FOR A PROXY
AND YOU ARE REQUESTED NOT TO SEND US A PROXY
THIS NOTICE IS FOR INFORMATION PURPOSES ONLY.
Welcome to "The Monarch Bay Way"
David Walters
Mr. Walters co-founded Monarch Bay Associates, LLC, a FINRA registered broker dealer, in 2006. Prior to Monarch Bay Associates, Mr. Walters was a principal with Monarch Bay Capital Group, LLC, a firm that provided advisory services and capital for emerging growth companies. From 1992 through 2000, he was Executive Vice President and Managing Director in charge of capital markets for Roth Capital (formerly Cruttenden Roth), where he managed the Capital Markets group and led over 100 financings (public and private), raising over $2 billion in growth capital. Additionally, Mr. Walters oversaw a research department that covered over 100 public companies and was responsible for the syndication, distribution and after-market trading of the public offerings. He managed the public offerings for Cruttenden Roth, which was the most prolific public underwriter in the U.S. for deals whose post-offering market cap was less than $100 million. Mr. Walters sat on Roth's Board of Directors from 1994 through 2000. Previously, he was a Vice President for both Drexel Burnham Lambert and Donaldson Lufkin and Jenrette in Los Angeles, and he ran a private equity investment fund. Mr. Walters also serves as Chairman of the Board of Directors and Chief Executive of., Monarch Staffing, Inc. Mr. Walters earned a Bachelor of Science in Bioengineering from the University of California, San Diego.
Mr. Walters is Chairman of the Company’s Compensation Committee and a member of the Company’s Audit Committee.
http://ih.advfn.com/p.php?pid=nmona&article=52151217
OMG! We have truly become a self loathing nation, intent on destroying anything that smacks of success. Walmart and other U.S. corporations trying to do business in countries like Mexico, where government corruption is well known and unavoidable, will now have to devote massive resources to defend against unconscionable attacks from sanctimonious elitist government twits and self-serving union goons here in our own country. The "community support" money tacitly extorted from the company when Walmart tries to locate one of their enormously popular stores in what frequently can be described as depressed and underserved areas, would, of course, never be characterized as "bribes". Our governing royalty and their socialist leaning minions always rush to inflict the greatest possible amount of damage on American business, long before the facts are fully fleshed or the context known. God help us if the destructive forces of socialism and elitism continue to dominate the discussion here in the U.S.
Not just Wal-Mart: Dozens of U.S. companies face bribery suspicions
http://finance.fortune.cnn.com/2012/04/26/walmart-bribery-investigations/?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+(Top+Stories)
Wal-Mart employee starts petition for CEO's ouster
http://www.reuters.com/article/2012/04/27/us-walmart-petition-idUSBRE83Q12420120427
It’s another huge weakness in the euro system, which will cause endless trouble in the years ahead.
And it was all completely unnecessary. Too bad someday it will help sink the euro.
http://etfdailynews.com/2012/04/26/eurozone-the-secret-system-that-blew-another-hole-in-the-euro-fxe-euo-iev-vgk-vwo/
This report looks quite impressive!
http://ih.advfn.com/p.php?pid=nmona&article=52161677&symbol=AZK
Goose egg for Tuesday trading and no news. Oh well, back to watching the grass grow.
Interesting volume over the last two trading days. Perhaps news coming?
Is it just me, or does this sound pretty significant?
The best results received to date from thirty six (36) holes are 7 grams of gold per tonne over 9.4 metres in hole JA-11-970 and 3.5 grams per tonne over 21.6 metres in holes JA-11-981 which includes an interval of 9.4 grams of gold per tonne over 5.8 metres. Both holes are located respectively at 100 and 200 metres from the actual in pit resources of the Hosco Zone.
http://ih.advfn.com/p.php?pid=nmona&article=52013028&symbol=AZK
Comtex Publisher Partners
http://www.comtex.com/publishers.aspx
"It's stunning" (Dementia Today)
The mice returned to normal behaviors three days after treatment with bexarotene, which is marketed as Targretin.
“No one, ourselves included, would have ever imagined that any drug would have worked with this speed,” said Gary Landreth, a Case neuroscientist and lead researcher. “It’s stunning.”
http://www.dementiatoday.com/?p=18260
Wow! That's what I call a bold statement. Are you suggesting GAZ is actually a fraudulent scheme and not just a currently overbought ETF? What about the underlying assets of this ETF, and what would be the scenario under which it would go to zero? Your prediction seems even more extreme when one considers your post script, "not kidding". I think you actually are kidding around, but I would be very interested in any support you can provide for your prognostication.
Credit line extended until after the Fall elections. (should be sufficient since the world as we know it will come to an end on November 6th assuming the current administration is not voted out) LOLN (laughing out loud, nervously)
On March 27, 2012, Electronic Control Security Inc. (the “Company”) , through its wholly owned subsidiary, ECSI International Inc. (“the “Subsidiary”), and Atlantic Stewardship Bank (the “Bank”) entered an agreement pursuant to which the maturity date for the amounts outstanding under the credit line established in March 2011 has been extended to November 15, 2012. The principal amount outstanding is $475,000. All other terms of the agreements were unchanged.
http://ih.advfn.com/p.php?pid=nmona&article=51845867
Of course, I have never indicated whether I have or ever had a position, but your warnings were indeed timely. The Street.com came out with an article this morning basically supporting your concerns about the NAV issue, and it may have contributed to the steep decline today. On the other hand, maybe more people read this board than we know! In any case, thanks for the early warning.
Warren Buffett Wisdom from Seeking Alpha
The following are some of the top dividend stocks legendary value investor Warren Buffett is holding, according to Berkshire Hathaway's (BRK.B) latest 13F filing.
Wal-Mart Stores, Inc. (WMT): My Take - Buy
Warren Buffett holds 39,037,142 shares of Wal-Mart. Wal-Mart has a dividend yield of 2.6% and a payout ratio of 32%. Wal-Mart Stores, Inc. is the largest retailer in the world, with approximately 3,700 Wal-Mart stores and 600 Sam's Club stores in the U.S. and about 4,000 international stores. The Wal-Mart segment consists of Supercenters, Discount Stores and Neighborhood Markets. Sam's Club stores are membership warehouse clubs that primarily target small business owners.
Wal-Mart's earnings profile remains strong based on its leading position as the world's largest retailer, its resistance to economic downturns and a record of consistent growth. It continues to respond to a generally challenging consumer environment through its Everyday Low Pricing strategy.
Going forward, Wal-Mart's earnings potential is expected to be stable driven by its international growth, continued store format conversion in the U.S. and improving geographic diversification. As the inflationary and economic environment improves, Wal-Mart is expected to moderate its discounting and promotional measures pushing up the margins. With an expected increase in dividends and share buybacks, I believe it is a good time to buy WMT.
http://seekingalpha.com/article/452571-warren-buffett-s-top-dividend-stocks-4-to-buy-1-to-avoid
FPFX CIRCUS NEWS
Prosecution Asks Judge to Dismiss Attorney in Scarfo, Pelullo Racketerring Case
http://galloway.patch.com/articles/prosecution-asks-judge-to-dismiss-attorney-in-scarfo-pelullo-racketerring-case
Have The Natural Gas ETFs Finally Bottomed Out? - ETF News And Commentary
http://ih.advfn.com/p.php?pid=nmona&article=51542745
Still Growing!
As of March 6, 2012, the registrant had 66,669,244 shares of its $0.001 par value common stock issued and outstanding.
http://ih.advfn.com/p.php?pid=nmona&article=51696115
Having the cake and eating it too.
http://www.uspharmacist.com/content/d/pharmacy_law/c/32890/
The manufacturer of bexarotene, Eisai Co., based in Japan, is being a bit vague in its public statements about this potential off-label use of its product. Instead of coming right out and saying that the drug should not be used in humans until further research is performed, its spokesperson was quoted as saying, “It is our policy to not comment on off-label uses of our products. Physicians are able to prescribe products as they see medically necessary.” The company also disavowed any knowledge of the research study published in Science.17
That is a great way for a company to have its cake and eat it too. Companies can say that they do not have any control of how their products are used once they leave their factories, but they will be happy to take the profits from off-label uses if such an occurrence happens. While this may well be an accurate point of view at some time down the road when human-use evidence is collected, from an ethical perspective, the company should be saying this drug has been approved in the U.S. for a very narrow and specific use and should not be used for other purposes at this time. Perhaps that time could come in a relatively short period if clinical trials were opened under the auspices of an FDA Investigational New Drug Application (INDA) with the approval of the Institutional Research Board (IRB) where the research might be conducted.
Good information to know.