U.S. turns up heat on Madoff clan, wants assets Tue Mar 17, 2009 7:35pm EDT
6:27pm EDT By Grant McCool
NEW YORK (Reuters) - U.S. prosecutors raised the pressure on jailed swindler Bernard Madoff's family on Tuesday, signaling their intent to ask for $31.5 million from loans to his sons and $2.6 million worth of his wife's jewelry.
Poor, poor pampered family members gonna feel the pain. :~(
Guangshen Railway: Beaten Down Chinese Railway Worth Eyeing by: David Hunkar March 27, 2009
Guangshen Railway Co. (GSH) is the lone foreign railroad listed on the New York Stock Exchange other than the Canadian railroads.
From Wikipedia:
“Guangshen Railway Company Limited operator of Guangshen Railway, the 152-kilometre railway link between Guangzhou and Shenzhen in Guangdong, China. The company is engaged in railway passenger and freight transportation businesses between Shenzhen and Pingshi and certain long-distance passenger transportation services. It also cooperates with MTR Corporation Limited in Hong Kong in operating the Guangdong Through Train passenger service.”
Shenzen was the first Special Economic Zone that was established by China. With the establishment of many export-oriented factories and hi-tech companies, Shenzen ultimately became very successful.
GSH has a market cap of just $489M. The current dividend yield is 3.52%. Last year the company had revenue of $1.7B. After trading at a high of $30 early last year, the stock fell in sync with the overall market. Thursday the stock closed at $17.10.
There have been news reports that China’s stimulus plan is working. However GSH will get more business only when the international export sector improves. It is definitely worth keeping an eye on this railroad stock from China until then.
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