Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Subject: FW: How Long Do We Have?
New e-mail from a friend.
HOW LONG DO WE HAVE?
This is one of the most interesting thing I've read in a long time. The sad thing about it, you can see it coming. I have always heard about this democracy countdown. It is interesting to see it in print. God help us, not that we deserve it.
About the time our original thirteen states adopted their new constitution in 1787, Alexander Tyler, a Scottish history professor at the University of Edinburgh , had this to say about the fall of the Athenian Republic some 2,000 years earlier: 'A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.'
'A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury.'
'From that moment on, the majority always vote for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which
is always followed by a dictatorship.'
'The average age of the world's greatest civilizations from the beginning of history, has been about 200 years.'
'During those 200 years, those nations always progressed through the following sequence:
1. from bondage to spiritual faith
2. from spiritual faith to great courage
3. from courage to liberty
4. from liberty to abundance
5. from abundance to complacency
6. from complacency to apathy
7. from apathy to dependence
8. From dependence back into bondage'
Professor Joseph Olson of Hemline University School of Law, St. Paul, Minnesota, points out some interesting facts concerning the 2000 Presidential election:
Number of States won by: Gore: 19 Bush: 29.
Square miles of land won by: Gore: 580,000 Bush: 2,427,000.
Population of counties won by: Gore: 127 million Bush: 143 million.
Murder rate per 100,000 residents in counties won by: Gore: 13.2 Bush: 2.1.
Professor Olson adds: 'In aggregate, the map of the territory Bush won was mostly the land owned by the taxpaying citizens of this great country.
Gore's territory mostly encompassed those citizens living in
government-owned tenements and living off various forms of government welfare...'
Olson believes the United States is now somewhere between the
'complacency and apathy' phase of Professor Tyler's definition of
democracy, with some forty percent of the nation's population already having reached the governmental dependency' phase.
If Congress grants amnesty and citizenship to twenty million criminal invaders called illegal's and they vote, then we can say goodbye to the USA in fewer than five years.
Pass this along to help everyone realize just how much is at stake, knowing that apathy is the greatest danger to our freedom.
Thanks for reading this and I hope you will pass it on.
WAKE UP AMERICA!!!!
SharonB
North Africa: 'Silicon Ribbon' Pops Up Across the Maghreb
29 September 2007
Posted to the web 30 September 2007
Michael Deibert
Paris
Poised attractively near to the European market and with an abundance of skilled labour, North Africa may be poised to become an electronics manufacturing hub.
An assessment released this month by the California-based consulting firm Frost & Sullivan is based on a survey of companies operating in North Africa and trade organisations governing the areas in which they operate. It found that "strategic initiatives including ensuring the effective flow of goods and services, and the building of a reliable supplier base are having a positive impact on electronics manufacturing services (EMS) providers in the region."
It is a market, observers say, that began to grow organically but now is making rapid advances into the international realm, focused on the trio of North Africa's former French colonies, Algeria, Morocco and Tunisia, often referred to by as the Maghreb countries.
"The growing local market in North Africa ignited the demand," says Ganesh Muthiah, a research analyst with Frost & Sullivan in Chennai, India, who authored the report. "North Africa has an extensive pool of engineers and information technology designers, and now the proximity to the European market is a key factor. The North African governments have also come to a conclusion that to improve their economic status they will promote a conducive manufacturing environment."
Though currently less than 4 percent of Africa's population is connected to the web, the majority of those subscribers are located in North African countries and in South Africa.
"We see the top players in the manufacturing market moving to this region," says Muthiah, citing the expansion of operations of foreign electronics firms throughout the Maghreb in recent years.
Algeria, Morocco and Tunisia are all signatories to the Euro-Mediterranean Association Agreements with the European Union (EU), which guarantee free access to European markets and are exempt from customs duties.
In late 2006, Fuba Tunisia, a printed circuits company specialising in electronics and telecommunications, emerged in Tunis as an outgrowth of the German digital giant Fuba Printed Circuits GMBH, which currently maintains sizable operations in the German cities of Hanover and Dresden.
The company recently completed a nearly 10 million-dollar modernisation and expansion of its plant in Bizerta, Tunsia and began the process of hiring over 100 additional employees. Its export revenues currently hover around 30 million euros. Fuba Tunisia currently supplies such companies as Alcatel, Bosch, Delphi, Siemens, and Schneider.
Elsewhere in Tunisia, at the end of March, the French company Lacroix Electronics opened the doors of a new production location in the city of Zibra, an undertaking that will provide the area with nearly 200 new jobs.
According to the numbers assessed by London's Oxford Business Group consultancy, in Tunisia, for example, the electronics sector accounted for some 20 percent of all Tunisian exports in 2006, worth 11.6 billion dollars. Sales of electronics abroad increased at a pace greater than that of the 12.6 percent in average domestic market growth.
The electronics sector currently provides almost 45,000 direct jobs in Tunisia.
In Morocco, separated from Tunisia by politically tense Algeria, Geneva-based ST Microelectronics has been aggressively increasing its presence over the last four years.
Last summer, STM announced the further expansion if its integrated circuit design and development centre in Morocco's capital city of Rabat, that was first of its kind in the country when it was inaugurated in 2003. Though initially only the site of STM's testing operations, Morocco has become a nexus for ever-more complex work including the design of silicon chips known as System-on-Chip (SoC) devices.
Algeria, which had been seen to be pulling itself out of a civil war that lasted over a decade, has had the misfortune to be beset by a slew of attacks apparently carried out by al-Qaeda inspired terrorists, which have killed dozens of people in the last year. The electronics situation, though, nevertheless appears busy and resilient.
Relevant Links
Economy, Business and Finance
This month ENIE, an Algerian firm which specialises in the manufacturing of electronic components as well as audio and video products, announced that it would cooperate with the Spanish renewable energies companies Isofoton and Alsolar to work on a 50 million dollar contract to construct Algeria's first thermal energy plant in the country's south, with 2 megawatts capacity.
"The near-shore appeal (of North Africa) doesn't quite have the issues of China, with concerns about intellectual property laws or taking 3-5 weeks for the boat to get there, but it gives you something nearby with low costs, with good technicians and good manufactures and government incentives," says Alfonso Velosa, a research director with Gartner, a United States-based information technology research and advisory company.
Gartner's own numbers show a compound annual growth rate of 20 percent for near-shore (as opposed to offshore) outsource manufacturing taking place in countries like those in North Africa.
http://allafrica.com/stories/200709300016.html
Sent FYI to Radomir...SharonB
Best Bid 0.05 (5000 shares) Best Ask 0.09 (5000 shares)
Time of Last Inside Change 9:30 AM
I sent the following message to the Management.
Dear Radimir. The following exchange took place on the ILCI message board in Investors Hub and is being sent FYI. We really need some guidance about the company, it’s plans, and recent activity since the last Press Release.
SharonB
Post 6264 Response to my buying activity post.
Actually, the management can be and most likely is "that bad".
That sad fact has not, thus far, deterred me from hanging on to a slim hope for future success for us as ILCI shareholders.
I have actually (shamefully) added to this position post-reverse split.
There is no rational explanation for such an action:
I think the proper description of such an action is "Blind Faith".
You pointed out, quite correctly, that, until the reverse split, Ilci had been extraordinarilly shareholder aware and friendly-
Anomolous action in pinkdom.
Now, however, we are recieving the pink eye disease of those ill constituted unfortunates whose sad lot it is to believe people such as Radomir.
Please do not misunderstand me: I do not think Radomir a fraud; I think him a fool and an incompetent.
I look at his having abandoned the telecom legacy of ILCO as the act of an attention defecit disordered individual.
I think he leapt from an area he knew something of into an area where angels fear to tread: Libya and north Africa, the only remaining safe havens for modern day pirates.
Also, apparantly, an area where bankers are pirates.
How can we be encouraged by this nonsense?
Certainly it is a lottery type play at this point and NOT AN INVESTMENT.....WOE IS ME...Sam
Post 6258
Purely a hunch bet. This management just can't be that bad.
As I look at it, I see 2 reductions in the Authorized shares before the RS, a radically reduced float after the RS, and a suspicion there is something interesting going on and want a little of the action. It takes very little demand to jump the bid, so if I am right, this could easily take off and I want to be along for the trip.
Radimor is traveling lot and I’m fairly certain he isn’t doing it for the fun of it. He is no dummy and I doubt our new President and CEO isn’t either.
I’m an optimist and this reminds me of the story about the little kid who was digging into a hugh mound of horse manure and just as happy as could be. When asked what he was doing he replied,”with all this H….. S..t there has to be a pony here somewhere. “
Authorized Shares: 3B
Outstanding Shares: 4,977,609
Restricted Shares: 2,566,660
Float: 2,411,338 (Calculated)
Updated 8/28/2007
SharonB
Post 6257 For god's sake, Sharon, why?
Post 6255 I reported Got 2 5K fills at .06, waiting for another 10K at .06 and I'm done.
SharonB
Post 6254 I reported 20K at .05. No fill for 20K more.
Radimor, how about a little help here.
SharonB
Post 6253.. Spread tightening...05 x .06 volume +44k
RAD any time now PR PLEASE....
Purely a hunch bet. This management just can't be that bad.
As I look at it, I see 2 reductions in the Authorized shares before the RS, a radically reduced float after the RS, and a suspicion there is something interesting going on and want a little of the action. It takes very little demand to jump the bid, so if I am right, this could easily take off and I want to be along for the trip.
Radimor is traveling lot and I’m fairly certain he isn’t doing it for the fun of it. He is no dummy and I doubt our new President and CEO isn’t either.
I’m an optimist and this reminds me of the story about the little kid who was digging into a hugh mound of horse manure and just as happy as could be. When asked what he was doing he replied,”with all this H….. S..t there has to be a pony here somewhere. “
Authorized Shares: 3B
Outstanding Shares: 4,977,609
Restricted Shares: 2,566,660
Float: 2,411,338 (Calculated)
Updated 8/28/2007
SharonB
Got 2 5K fills at .06, waiting for another 10K at .06 and I'm done.
SharonB
20K at .05. No fill for 20K more.
Radimor, how about a little help here.
SharonB
FF:No fill, still not losing any more.
Got to love all or nothing bids in these goofy situations.
Tomarrow is another day. The bid is GTC at .04.
SharonB
Heading out to golf course. Just put in a bid for 20K at .04. All or none and GTC. If you see a 20K buy, it was probably me.
CUL.
SharonB
Ranked 47 in 2007 investment attraction (ALGERIA not ILCI)
Algeria’s political system hinders investments
Algeria has been classified 47 among a ranking of 82 countries in terms of foreign direct investments attraction, a report issued by economy investigation unit revealed. Algeria attracted about $4.7bn investments the majority of which was recorded in the hydrocarbons sector, which represents 0.32% of the global money flow.
The survey underscored a slight improvement in the concerned sectors, still it has emphasized on the fact that the Algerian political system is hindering foreign operators from investing outside hydrocarbons sector.
In addition, investors’ reluctance is due to the financial and banking system Algeria adopts, which lacks efficient management.
On another side, the same report indicated that the privatisation process is still slow and inefficient, adding that infrastructures need to be improved and developed.
http://www.elkhabar.com/FrEn/lire.php?idc=52&ida=82015
Maghreb Employers and IMF to meet on November
The President of Employers Confederation for Maghreb Union (UMA) revealed that the employers' organizations of the five Maghreb countries are to meet representatives of the International Monetary Funds IMF on November 29 in Tunisia.
Mr. Boualem Marrakech, who is also the president of the Algerian Employers Confederation, said that private sector employers are to give proposals to IMF representatives concerning the economic situation of the five countries, namely Algeria, Tunisia, Morocco, Mauritania and Libya.
SharonB
0.04 (5000 shares) 0.05 (5000 shares) 9:58 AM -11.11111%
Vol 7192
Last trading week in September. Radimor, we are still waiting for news.
SharonB
Best Bid-0.04 (5000 shares)Best Ask-0.045 (5000 shares)Time of Last Inside Change..9:30 AM
mumble,mumble,mumble.grrrrr, phooey, eom
Hey management how about some news and explanations?????????????
SharonB
makeamint. How does that compare to the skull and cross bones
advisory in terms of technical analysis? I'm staying away from fundamentals as guidance for the time being.
SharonB
Best Bid............Best Ask........Time of Last Inside Change
0.02 (5000 shares)--0.04 (5000 shares)------9:06 AM
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ilci#getQuote
15 min delayed.
It is now nearly 3 weeks since the RS and still no response from the company or my e-mail requesting a status..
My investment in ILCI is down nearly 80% since the RS and down
93% since March 1, 2007.
Just another unhappy camper grumbling.
Sending this post to the company.
We really, really, really, need some information about a status of operations, financial condition, and some sort of business plan. PLEASE
SharonB
makeamint.update: Best Bid Best Ask Time of Last Inside Change
0.025 (5000 shares) 0.09 (5000 shares) 9:37 AM
I'm not so sure about inducing selling, but discouraging buying is a reality. This is a scenario for
a stock to die by boredom. The damage has been pretty much done.
It will become a candidate around Christmas when tax considerations become a factor and loss selling an important factor.
Heading out to the golf course. Hope we get a PR while I'm gone.
CUL.
SharonB
Time and sales? down 16.67% 2 trades??
9:37:14 AM Trade 0.025 5000
9:36:06 AM Trade 0.025 10010
Billy9596: That is some spread.According to Pink Sheets it is Bid. 0.018 (5000 shares)....Ask. 0.03 (5000 shares).. 9:02 AM.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ilci#getQuote
I had hoped to get some financing in order to pick up a few shares. Doesn't look like it will happen till later next week.
The real spread will show when buying causes the ask to go up in order to fill the quantity desired. IN the past it took very little demand to move the bid up and I suspect with this new and horrible share structure, by virtue of the RS, it will be worse.
My personal belief there is something going on with financing and the RS was necessary to accomplish that. I have been reading horror stories where scam artists representing financial interests make promises, shares given to the crooks, and the supposed new money doesn't show up. In the meantime they have sold their shares, driven down the share price, and the company is in deep do-do and suing for damages while the perps have run off with the money made selling stock.
We recently had 2 suprises; the RS and the increase in restricted shares. I strongly suspect, now, there is a linkage
but just can't see the advantage of shares issued pre RS. That is backwards. To say I'm a little confused about this is a really big understatement.
SharonB
Wow< another big day at the market for ILCI. Up 50% WOW
Rec. Time Action Price Volume
3:18:26 PM Trade 0.03 5000
3:18:10 PM Trade 0.03 1500
3:18:02 PM Trade 0.02 50000
3:17:58 PM Trade 0.02 13300
3:10:52 PM Trade 0.02 28650
2:56:08 PM Trade 0.03 1500
2:36:38 PM Trade 0.03 2000
................total.....101,970 shares.
In the mean time we await info from the management.
SharonB
Todays thrilling time and sales. UP 20%
Rec. Time Action Price Volume
3:52:14 PM Trade 0.03 5000 = $150.00
3:52:10 PM Trade 0.03 1500 = $45.00
3:06:06 PM Trade 0.0125 9575 = $119.69
2:58:26 PM Trade 0.02 5000 = $100.00
.......total.. 21,073 Shares...Total = $314.69
I noticed nobody got an e-mail from the management regarding the status and progress of Innotelco.
Our new President has been office for barely more than a month. I guess he is a slow typist.
SharonB
The mm's would never let you buy that much at these prices. I'll bet that even trying to get 500K at an avg .03 which would only be 15K is probably an impossible task.
SharonB
poor-papa> Any idea how they got your e-mail? I didn't get one yet and wouldn't sell anyway. Was it your g-mail account? If so, have you ever e-mailed the company using that account?
SharonB
makeamint. Great link. "Time to Say Goodbye" from the opera Nessun Dorma. Brings tears to my eyes and relating it to ILCI doesn't help either. At least my tape has value.
I caught that episode by accident on tape due to a misprogramming on my part. Serendipity, to say the least.
SharonB
paunch13: I have run across many managements that I have refused to invest in that would be a far cry from the integrity of ILCI's management. Those I did, mostly let me down.(Pinkies only)
With the exception of the RS, without explanation, I really did not have a compelling reason to criticize the management. I want and all the long investors want answers to the published contracts status and results.
I was willing to be patient and let management do it's thing. The RS was a wrong move on the surface and damaged the integrity of management at this moment in time, IMO.
We do not know what the plans, purpose of RS, and etc to make any determination at this time on whether to invest more money.
8000 share MM bid at .025 dropped us 37.5% of the market cap. Ridiculous.
SharonB
PS: A copy of this post sent to management FYI.
I can't help but believe the more e-mails they receive from long investors, the more they may become aware that there is great concern from honest and concerned investors.
I am not talking about diatribes and messages filled with invectives, but sincere and thought out missives sent with respect for the recipients.
SharonB
General business news from the North Africa region where we have a business interest. (I Hope)
Cevital Group to invest $20 billions in Boumerdès
Thursday 06 September 2007
Cevital group CEO Mr. Issad Rebrab revealed yesterday that the group is to invest $20 billions to build an economic pole in the coastal region of Cape Djenat (Boumerdès province).
Mr. Rebrab mentioned during the press briefing he held yesterday that Cevital Group has set a new local and worldwide strategy in the forthcoming years. He revealed however that he is to build a big port in Cape Djenat which is to link Algeria’s ports with worldwide ports.
Cevital group CEO revealed during the same occasion that his group is to install cars assembly factory which is to be operational as by 2015. This factory is intended to produce 250 thousands cars a year.
He said further that all Cevital investments are to create more than 100 thousands direct jobs whereas the indirect jobs are to reach 1 million.
Elsewhere, Cevital food industry group announced to bring down its products’ prices during Ramadan.
http://www.elkhabar.com/FrEn/lire.php?idc=52&ida=80273
…
Gassi Touil project cancelled for delays and losses
Sonatrach seeks damages from Repsol and Gas Natural
Thursday 06 September 2007
Oil state-owned group Sonatrach announced yesterday to refer to the international arbitration to seek damages; following its decision to cancel a 1.5b euros contract signed in 2004 with the two Spanish oil firms Repsol YPF and Gas Natural to explore and develop natural gas in Gassi Touil.
The state-owned group released a statement yesterday saying “Sonatrach has started undertaking an arbitrage procedure against Repsol and Gas Natural seeking damages”.
Sonatrach statement mentioned further that Repsol and Gas Natural have not respected their commitments, as Gassi Touil project recorded delays and overcame its costs. It explained that according to the contract provisions the project is to be complemented as by 2009, whereas, according to Repsol and Gas Natural expectations the project would be finished probably before the 2012 end. By doing so, Sonatrach “has implemented the provisions of the contract itself” concluded the statement.
http://www.elkhabar.com/FrEn/lire.php?idc=52&ida=80272
…
GB to set up bank in Libya
(Reuters)
6 September 2007 ABU DHABI — First Gulf Bank yesterday said it has agreed with the Libyan government to set up a commercial bank in the north African oil producer.
Libya, with a population of five million and the biggest holder of oil reserves in Africa, is moving to modernise its primitive banks but faces an uphill task in a command economy where cash is king, firms struggle to get credit and reforms can fall prey to influential opponents.
First Gulf said it would own half of Gulf-Libyan Bank, with the Libyan government’s Economic and Social Development Fund owning the other half, it said in a statement.
Gulf-Libyan will have authorised capital of $400 million and paid-up capital of $200 million, it said.
“The Libyan economy is diversifying, the economic outlook is favourable, and FGB wants to capitalise on this opportunity,” Abdulhamid Saeed, managing director of First Gulf said in the statement.
The Libyan economy may grow by more than 6.5 per cent per year for the next five years, the bank said, without providing more details.
Libya’s central bank won headlines in January by announcing it had appointed investment bank Rothschild & Cie to help it sell a minority stake in one of the Opec member country’s state-owned commercial banks to a big international bank.
The central bank did not identify the bank.
“The strategy calls for the progressive opening of the Libyan financial market to both domestic and foreign investors,” the central bank said, adding that it was seeking a comprehensive modernisation of the financial sector.
In July the Libyan government selected BNP Paribas as strategic partner for Sahara Bank in the first partial privatisation deal for the country, its central bank said in a statement.
http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2007/September/business_Septem...
…
Shareholders and clients alike benefit from consolidation in banking
By Sherine El Madany
First Published: September 5, 2007
CAIRO: Hot on the heels of mergers and acquisitions (M&A), Egypt’s banking environment has moved from a below par sector with around 60 weak banks to a thriving one with 35 stronger banks.
"Less than three years ago, Egypt had quite a weak banking sector with [numerous] banks [overburdened] with non-performing loans," said Adrien Phares, managing director of Credit Agricole Egypt. "Now, via M&A, there is a fewer number of banks but they are stronger and better performing."
"Consolidation is a fantastic evolution or — even better — revolution that started in a very short time," he added. "The winners are shareholders who will have more volume. But the biggest winners are clients who benefit from having more competitive banks."
One of the main conditions for improving the country's rating, he added, is to improve the banking sector. The key to that is consolidation, which creates robust institutions and helps reduce costs.
"The Egyptian market has seen excellent quality deals that are well-structured and well-priced," he stated. "Six years ago, nothing like that was available, and now [restructuring of the sector] is taking place thanks to new players penetrating the banking sector."
Several giant companies — domestic, Arab, and international — have recently forayed into Egypt in line with their goals to expand and penetrate emerging markets.
"Over the last 10 years, the market has seen around 200 [M&As] worth some $600 billion, and these are all sizeable transactions," said Omar Mohanna, chairman of Suez Cement Group. "M&A transactions taking place in Egypt now have to have a joint venture flavor. The easiest part is to acquire a company, but what should be done afterwards? That really is the question."
Panelists at the workshop entitled “The role of M&A in consolidating key sectors in Egypt” at Euromoney Egypt Conference Wednesday referred particularly to acquisition finance as a vital part of the game.
"The problem is that some banks consider acquisition finance a non-promising process," said Ahmed Heikal, chairman and managing director of HC Securities and Investment. "That is a misconception and does not help broaden the economy."
Speakers insisted that acquisition finance has strong potential to boost and better guide M&A transactions. They clarified that different measures could help reduce risks of acquisition finance, however such guidelines were still lacking in Egypt.
"There still are not clear guidelines on how to reduce risks, but there is a committee within the Central Bank of Egypt currently working on setting these [guidelines] up," said Mohanna.
Speakers shared their experiences of venturing into M&A transactions in Egypt. After acquiring Egyptian American Bank last year, Credit Agricole Egypt aimed to create a new culture founded on creativity and fierce competition.
Still, creating this synergy can impose a challenge on mergers or acquirers, who often find themselves struggling to unify different — at times conflicting — cultures.
"The trick is to invent a new culture and not impose your culture on the bank," said Phares. "The benefit from an M&A is to create a new strategy that everyone adheres to."
During another panel called “Egyptian banking in the spotlight,” speakers agreed that bank privatization was a win-win situation, whereby clients have access to more competitive banks and better services.
If that’s true, then why does the privatization of banks constantly cause uproar in the public and media.
"Perception of the market should have been [tackled] differently," explained Sahar El Sallab, vice chairman and managing director of Commercial International Bank. She added that the government should have addressed the media directly explaining to them benefits of privatization so they can pass the correct information to the public.
"All [bankers] — Egyptians, Arab, or foreign — are working under one regulator. We're all working for Egypt," she added. "I think having a national champion is very important, whereby it can implement its own strategy, aim for quality, and empower the sector."
Panelists pointed out that acquirers of banks have "wonderful" opportunities to revamp and restructure the sector which works to the advantage of the community and the economy as a whole.
Segments of banking that particularly require reform are microfinance and SME lending, mortgage lending, and most importantly retail banking.
Experts clarified that the banking market, as it stands now, is extremely under-penetrated, whereby less than ten percent of the population is banked. "Retail business is where banks should serve in a country such as Egypt, where the population is above 70 million," El Sallab stated. "If only we can address 20 percent of the population, imagine how much we can upgrade banking services and the entire sector."
As for lack of microfinance and credit lending, bankers are apparently waiting for Egypt's Credit Bureau to streamline and jump start the business. "The Credit Bureau will make a huge difference in the banking sector and increase the number of lenders," anticipated Mohamed Ozalp, vice chairman of Banque Misr.
SME lending is another domain that bankers believe has great potential to invigorate the market. "We have to be part of the growth cycle and [prove] that we've been there in the social and economic development of the country," El Sallab stated. "Large corporations are not the only portfolios we should be looking at. We need to address SMEs because these are the ones that will truly build the market. All banks and regulators should…meet at that point, which will [drive] Egypt at a different pace."
http://www.dailystaregypt.com/article.aspx?ArticleID=9166
makeamint: Is it safe to assume you sent an e-mail to the company asking that question?
SharonB
Kadhafi's son outlines plans for Libya first constitution nd other news from the region. Lots of perils out there.
Posted: 21-08-2007 , 10:32 GMT
Seif al-Islam kadhafiLibyan leader Moamer Kadhafi's son Seif al-Islam has outlined plans for the country's first constitution since his father seized power 38 years ago. And while he expressed backing for the father's idea of "direct democracy" -- a system of "people's committees" with a monopoly on all political debate -- he said the new constitution would extend political discussion and guarantee more independence.
Certain "red lines" however could not be crossed, including the role of his father and the country's adherence to Islam and sharia (Islamic law).
"Our next challenge is to set up a series of laws, which we can call constitution or social contract or something else. The important thing is to have a contract that will organize the lives of Libyans," Kadhafi said in a speech in Benghazi, 1,000 kilometres (600 miles) east of Tripoli.
"First, there are red lines that we must reach agreement on," he said, quoting in order: "Islam and application of sharia law, ... security and stability in Libya, unity of the national territory, and Moamer Kadhafi."
The laws should guarantee the independence of the Libyan central bank, the high court, the media and civil society, Kadhafi, told a crowd of more than 40,000 assembled late on Monday in Libya's second city.
According to AFP, he called for a "national dialogue embracing all the Libyan people to reach the ideal formula as soon as possible" to draw up a constitution, while expressing backing for the "direct democracy" preached by his father. That system criminalizes political dissent and bans the creation of political parties and a freely-elected parliament.
Seif al-Islam also called for strengthening the power of the prime minister so that he could choose his ministers.
http://www.albawaba.com/en/countries/Libya/216192
... Algeria: Al Qaeda attack kills eight troops
Posted: 11-07-2007 , 18:23 GMT
A truck bomb went off at an Algerian army barracks on Wednesday, killing eight troops in an attack claimed by al Qaeda's north Africa wing. The attack in Lakhdaria village 120 km east of the capital in the Kabylie region reported hours before the opening in Algiers of the All Africa Games.
The 0530 GMT blast was caused by a truck bomb and the eight dead and 23 injured were soldiers, the official APS news agency reported security sources as saying. Residents, citing unconfirmed reports, said the assault was carried out by a suicide bomber.
Al Jazeera television said al Qaeda's north Africa wing, the al Qaeda Organisation in the Islamic Maghreb, claimed responsibility for the attack and said it was a suicide mission. "Our martyr was able to enter into the heart of the (barracks) and set off the explosion there," said a spokesman of al Qaeda Organization in the Islamic Maghreb in an audio tape.
The spokesman named the suicide attacker as Suhail Abu Malih and said more than one ton of explosives were used.
Algeria's Interior Minister Noureddine Yazid Zerhouni declared in Algiers that the fight against the armed groups "will continue with the same determination" and that measures have been taken to reinforce counterterrorism. Talking on the sidelines of the People's National Assembly (Parliament) works in response to the attack, Zerhouni said that it "was not ruled out that armed groups would commit such kind of attacks,” underlying that these latter "will never undermine the determination of security services to fight these groups.”
http://www.albawaba.com/en/countries/Algeria/215012
Morocco: Meknes bomber identified
Posted: 14-08-2007 , 13:39 GMT
MoroccoThe would-be suicide bomber who blew himself up on Monday morning near a bus carrying tourists in the city of Meknes has been identified, a police official has announced. Hisham Dokkali, an engineer, detonated a small-size gas cylinder containing hand-made materials. The 30-year-old had no "extremist precedents," the same source added, according to MAP.
The official conveyed this "individual act" is a desperate attempt by "terrorist individuals" in the face of the state of alert of the security services which have tightened security measures to face up to terrorism. The bomber, who was heading towards the bus in a densely populated neighborhood, could not attain his goal thanks to the vigilance of the driver.
He lost his arm following the blast and was carried to the hospital in a serious condition. The incident left no victims or material losses. Moroccan security services have opened an investigation and are currently looking for two other individuals who were seen talking to the man prior to the incident.
http://www.albawaba.com/en/countries/Morocco/215998
Tunisian security forces kill 12 ¨criminals¨
Posted: 04-01-2007 , 18:30 GMT
Tunisian security forces killed 12 ¨criminals¨ and arrested 15 near Tunis after a fierce gunbattle, a government source said on Thursday. "The tracking of members of a criminal group ended on Wednesday afternoon with security forces killing 12 members of a criminal group and arrested 15 others," the source said, according to Reuters.
The authorities said Wednesday's clash in a southern Tunis suburb resulted from a hunt for a gang of criminals who clashed with police in Tunis on Dec. 23.
In that incident, two gang members were killed and two policemen were hurt.
Following last month´s incident, Tunisian authorities tightened security throughout the country, setting up roadblocks on main roads, residents said.
http://www.albawaba.com/en/countries/Tunisia/208124
SharonB
ff Add MXDY to that list. Lost a good hunk of change there. ILCI could do exactly the same. A virtual wipe out of value. Still can trade, but the bid is .0001.
Anybody who wants to drive ILCI to that level has an agenda and it is not in the best interests of long shareholders.
I believe if a long shareholder is driving down the bid price by such tactics, it is a fools errand. The damage is very difficult to undo unless you have considerable financial resources. I feel those funds can better be used in more fruitful and less risky pursuits.
SharonB
Paunch:I suspect that at about 10 cents a share there will be plenty of sellers glad to be out of this with some skin left.
I have buys at 7.3 cents a share, pre split. That make it 10.95 for breakeven on that buy. I'd be very,very,very,very, happy with a 50% loss on that trade.
SharonB
paunch: I think it is only an indicator they are on line and ready to trade. It is hard to believe anyone would sell 1000 shares for $10.00 minus the $7.50 commission or there abouts.
They take it down to create buying and it sometimes works. They keep up dropping the bid and the ask will drop down accordingly. Eventually it becomes interesting to someone and they buy. If enough buyers are brought into the picture the stock will end up for the day.
That is investment 101. How does this effect us? The way I see it, this will continue until all buying interest is gone and the stock basically goes into hibernation, bankruptcy, sold, or is delisted. There is only one way I see a turnaround and that is clarification by the Innotelco management.
My short term prediction is delisting for 10 trading days by the SEC. I then think we will go into hibernation or sold off for a pittance as a shell. I hope I am wrong and Innotelco management will step up to the plate and explain it's tactics, goals, and future plans.
SharonB
News (2) about an alleged white collar criminal from Maghrebia.
London endorses the Algerian golden boy extradition to Paris
Thursday. 30 August, 2007
Great Britain authorized Wednesday the extradition of the Algerian golden boy Abdelmoumen Rafik Khalifa to Paris. Westminster city court decision, however, can be appealed.
The British judiciary has endorsed the international warrant of arrest issued by French Court on March 6, 2007. The French judiciary indicts him with alleged malversation in his group recorded in France. His collapsed empire used to shelter embezzlement and money laundering in Khalifa companies’ group assets causing the dismissal of more than 100 workers after the bankruptcy, with a 90 million euros debt.
To recall, the Algerian judiciary has pronounced a life sentence on March 22nd for “criminal network formation, theft, embezzlement, forgery and use of false documents.” Algiers also seeks Khalifa extradition.
http://www.elkhabar.com/FrEn/lire.php?ida=79681&idc=52
Quick definitions (malversation)
# noun: misconduct in public office
...
Great Britain agrees to extradite Algerian tycoon Khalifa to France
30/08/2007
[Getty Images] Khalifa
The City of Westminster Magistrates' Court ruled Wednesday (August 29th) to allow Algerian banking tycoon Abdelmoumen Rafik Khalifa to be extradited to France to face embezzlement charges. Khalifa is to be tried for his involvement in the collapse of Algeria's largest private bank in 2003. Khalifa fled to London later that year, when the scandal erupted. Earlier this year an Algerian court sentenced him in absentia to life in prison for bank fraud and the embezzlement of $46.3m from the now-defunct Khalifa Bank, which he founded and ran. In France he faces charges of embezzling money from three other Algerian companies related to Khalifa Bank and of destroying computer records and accounts.
Judge Anthony Evans said he would allow the extradition but said the full order will be delivered in court today. In March, Algerian courts handed prison sentences to nearly two dozen Khalifa Group executives, many of them tried in absentia. With 104 suspects, the Khalifa trial is the largest in Algeria's history.
http://www.magharebia.com/cocoon/awi/xhtml1/en_GB/section/news
SharonB
I believe hit all time low. Time and sales:
Rec. Time Action Price Volume
12:25:44 PM Trade 0.02 248
12:25:20 PM Trade 0.015 5000
10:13:34 AM Trade 0.0095 10000
10:12:50 AM Trade 0.0095 10000
10:01:48 AM Trade 0.01 5000
10:01:28 AM Trade 0.011 10000
10:01:22 AM Trade 0.011 5000
10:00:42 AM Trade 0.015 5000
10:00:28 AM Trade 0.0175 5000
9:58:26 AM Trade 0.02 5000
9:58:08 AM Trade 0.02 5000
9:58:00 AM Trade 0.025 5000
....................total....70,248
UGH!!!!!!!
Just sent following e-mail to the CEO.
Dear Mr. Kadrija Hamzic: August 30, 2007
As the President and CEO of Innotelco it appears the time has arrived where it is requested you explain your goals for the company. What is your view for the future of Innotelco and how do you plan to proceed to accomplish a prosperous future. This is a business plan and all CEO’s have one.
This recent Reverse Split of 150:1 is damaging to the current investors and to complete such a radical maneuver without a public notice is seen by some as taking unfair advantage of the minority shareholder base of investors and favoring the majority shareholders. There are questions of a legal nature that have arisen. For instance who approved the RS? I assume the Board Of Directors approved this plan, but who constitutes the BOD. How long have they held their positions and what are their total positions in shares and types of shares per board member. How are they remunerated? Where can the records be reviewed?
This is a public company and the shareholders have legal rights. The shareholders also have moral rights. It seems the investors, after supporting the company with their beliefs and money, are entitled to the answers to basic questions any investor in any company is entitled to.
All previous shareholder activities have been friendly and gave reason to believe this is not your average pink sheet scam company. The share re-structures and Press Releases, in the past, were very positive. Many investors have overlooked, or paid less attention, to the lack of information because of those very facts and maintained or added to their investment during this time.
Shareholder opinions can carry a great amount of weight in the positive or negative way a company is perceived not only by the investment community, but by the companies very own customer base.
How can you expect new investors to take a position in your company if there is no vision, no current information on operations, and no financial data available?
I strongly urge you to respond to this e-mail and I will post it to the Innotelco stock message board where I am the moderator. I will also post it to other stock message boards I am a member of at your request.
Sincerely,
Sharon Bobbitt
Billy9565: That is the history of most pinkies. The only reason I feel this is different is because of the past instances of shareholder friendly maneuvers.
Lets hope this is a planned exercise with ALL the shareholders interest considered. I happen to feel Radomir Popovic is an honorable man with good intentions.
This situation has developed into a whole new set of circumstances that need to be studied and thought about.
The need for news and data is still needed to make a decision on whether to consider this an investment or a speculation/gamble.
SharonB
It will take a share price of about .35 to get back to where we were last January 1.
The strategy of this move, my guess, depends on volume on the buy side. With such a small float, it could happen really fast.
This last sell off took out the weakest 20 million shares, 150K adjusted for RS, was about 6.2%. Not exceptional selling pressure and certainly not a capitulation by the long shareholders. This may have been because of the surprise factor or most longs have just decided to ride this out and wait for some news.
I'm waiting for news and may just pick off a few shares if the price declines back to the sub penny level.
SharonB
ff: Got to go, but this is still an enigma within a paradox surrounded by a mystery. Like beats me what they ARE UP TOO.
SharonB
Westcoastcash: Thanks, I bookmarked that link. MSN still shows NA at this time. Just checked before this post.
SharonB
FF: Your mixing your apples and oranges up a little.
.0002 was the pre-split close. The .09 figure is the close that would have to be obtained to break even from yesterdays opening after the RS.
Still, the question remains what incentive is there to add any more money to this venture without substantial information. I think a lot of us had already arrived at that conclusion. With the potential bargains yesterday, a little speculation may well have been in order. That is as always, a personal choice and relative to the speculators risk assessment.
Some folks handle the downside of a risk assessment rather poorly. It is always unfortunate when a long side play fails. I am sure we have all seen players who lost money in a position and they continue to harp and complain about almost everything. This is true even if the parameters of the business have changed and the original analysis no longer valid.
Not much I can think of to do but wait and see at this juncture.
SharonB PS, Time for a brewski and meditation.
Now MSN Money shows no price or high low data. Total NA for ILCI?
Guess things are a little confused to say the least.
SharonB
Frankie: Yesterday the market opened at .0006. 150,000 shares equaled $ 90.00.
Today 1000 shares at .09 equals $90.00.
Yesterday the market closed at .0002. 150,000 shares at .0002 equals $30.00.
Today 1000 shares at the current price .05 equals 50.00.
SharonB