Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
VUELING AIRLINES is set to land on the Spanish Stock Market early December
November 20, 2006
Spain regulator approves Vueling IPO | today.reuters.com
After the successful launching of commercially successful Low Cost Airlines (LCC), the dimension of the capital requirements demanded by their further growth and expansion will force them to switch from private capital sources to those only available through the stock market.
HSAs Offer Options For FIs, Issuers, Processors & Consumers
November 17, 2006
Banks Pile Into Health Savings Accounts | online.wsj.com
Key Implications:
Health Savings Accounts (HSAs) and HSA Cards are gaining in popularity and has become the preferred method for accessing HSA dollars. Due to an increase in employer health care premiums which increased by over 9% in 2005, employers are increasingly offering HSAs to offset higher insurance premiums, while offering employees the option to earn interest on HSA accounts and to pay for medical expenses on a pre-tax basis.
1. HSAs are an attractive tool for FIs (Financial Institutions), issuers, payment processors and consumers, because HSAs combined with debit cards and/or credit cards allow consumers to access funds to pay for medical expenses and deductibles, while also allowing consumers an opportunity to invest in mutual funds, and other investment products and to earn rewards points based on account balances.
2. Trends show HSAs are a growth opportunity for FIs, issuers and payment processors, who can offer consumers a competitive option to their employer HSA Plan, while offering investment products, lower setup and maintenance fees and the ability to load multiple purses (multiple accounts) on a HSA Card).
3. Payment processors such as First Data and Metavante has seen an interest and opportunity to provide transaction services for issuers and FIs to process HSA Cards, in addition to offering multi-pursing solutions and back office infrastructures which allow FIs, issuers and payment processors the ability to utilize existing magnetic strip technology to load multiple purses on HSA Cards, which builds brand loyalty with the consumer and employers adopting FIs Health Savings Plans.
November 16, 2006
Accounting Watchdog Falls Behind | wsj.com
1. The PCAOB is an entity that few people know much about
2. Although they impose strong standards on the accounting firms, their own processes seem to be needing improvement
3. Accounting firms don't have the luxury of finishing audits without a deadline. Why should the PCAOB not have one?
Indian Foreign Acquisitons - The Cost, Quality and Regulatory Conundrum
November 16, 2006
Small Acquisitions Broaden Indian Outsourcer's Services | www.investors.com
Acquisitions by Indian Companies in foreign lands are big time news for the past few months. Whether one looks at Arcelor-Mittal, Tata-Corus, TCS, Wipro or a host of other companies, they are all looking beyond India for business expansion. This analysis takes a look at the new found confidence to venture overseas and the factors that limit their growth in their homeland.
November 15, 2006
Small Acquisitions Broaden Indian Outsourcer's Services | www.investors.com
The data is conflicting... how much of an advantage do companies get by outsourcing their IT and call centers to India? My experience through three expansions is the quality is very good, but the cost advantage is diminishing. But that adds to the debate. Companies are becoming slower to move on international outsourcing, and at times, are withdrawing their operations (Apple recently pulled the plans for a 3,000 person call center in Bangalor). If this trend continues with the slower pace, how will these countries continue to expand? Acquire domestic US outsourcing companies.
European Exchanges, a Mutated Creature
November 15, 2006
Goldman to launch off-exchange trading platform in Europe | www.finextra.com
New European Exchanges landscape
Markets in Financial Instruments Directive
Exchange atomization
Algorithmic Trading or the future of Traders
November 13, 2006
LSE profit lifted by electronic trading boom | today.reuters.co.uk
Innovative technology
Trading landscape
Future of Traders and Brokers
Convergence of Accounting Standards: Resistance to Change
November 13, 2006
Investors Warn Over Convergence | www.ft.com
Convergence of Accounting Standards has been in the news for sometime and been facing resistance from various quarters.
This analysis takes a look at the concerns being expressed in this area by various bodies and why in my opinion the flow of events will in the interest of capital market growth lead to a virtual convergence of accounting standards.
This analysis also takes a short look at the evolution of accounting standards and why despite resistance these standards have become the sine-qua-non of accounting today.
Hedge Funds - Regulation Enroute - A Sneak Peek
November 13, 2006
This Fund is Making a Bundle | www.nytimes.com
Fortress Investment has made a SEC filing to issue 10% of its capital to the public - thereby valuing the company at $7.5 billion. Its principal owners would see their investment of $500 million multiply overnight.
The above is however not the major focus of my analysis since one of the primary aims of several public offerings is to help the owners encash their equity while retaining control. What is of interest is the fact that the owners are making public disclosures of hitherto confidential information and will continue to do so through recurring SEC filings.
This analysis looks at the effect such disclosures would have on hedge fund regulation and how these may impact capital available to clients of hedge funds who sometimes find it difficult to attract capital from banks and other financial institutions.
November 10, 2006
The Baer is back in Asia | www.financeasia.com
To do private banking in Asia, a bank has to be very serious in wanting to set up the operations at the right scale, that is, adequate breadth and depth.
Working Capital - Internal Audit and Control - Accounting Standards
October 30, 2009
Central Bank Policy - Gold - Dollar - Accounting and the Gold Standard
October 8, 2009
September 6, 2009