All GLG News Analyses Filed Under: Government, Legislation & Politics
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
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Foreign Corrupt Practices Act May Chill Business But Not Everyone Agrees
August 10, 2009
In Antibribery Law, Some Fear Inadvertent Chill on Business | online.wsj.com
Efforts to revise the 1977 Foreign Corrupt Practices Act began in the early 1980s and eventually led to some changes in the law. However, it remains less than clear what constitutes permissible vs. impermissible payments. Despite various international agreements intended to combat corruption, the fact remains that other countries do NOT view these issues through such strict legal lenses.
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Kurdish Politics after the KRG Regional Assembly Elections
August 4, 2009
Post-American Iraq | www.forbes.com
The recent Kurdish Regional Government (KRG) Assembly Elections demonstrate that Kurds are less worried Arab-Kurdish relations than the lack of jobs in Iraq's Kurdish provinces and pervasive corruption and autocracy that characterizes the Kurdish leadership. The success of the Change and Reform and Services lists represents a healthy step forward by imposing checks on the KRG leadership. The elections results may also provide an opening to greater cooperation with the Arab south.
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Perception is Reality for Iran Impact on Energy Markets
August 1, 2009
In Tehran, a Symbol Is Ready to Reappear | www.nytimes.com
Following the disputed June 12th Presidential election in Iran, the political "crisis of confidence" and the use of force by the government to suppress popular dissent, has not yet impacted the Iranian oil sector or oil prices. Iranian actions that impact domestic production could quickly be make up by existing excess capacity within OPEC. However, depending on the severity of the political crisis, oil speculation could artificially impact the price, as it did during the Iran crisis in 1979.
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Health Care Tax Hikes Will Raise Unemployment
July 30, 2009
'Rich' Taxes Cripple Small Towns | www.realclearmarkets.com
The House of Representatives health care proposal seeks to tax small businesses to pay for health care. This will prevent businesses from creating jobs. Firms that do not provide the right kind of health insurance to workers would pay a tax of 8% of payroll beginning at $400,000 (2.5% of payroll for firms with payroll of $250,000). Income tax surcharges would be imposed on those making over $350,000, starting at 1% and rising to 5.4% on income above $1 million.
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July 28, 2009
In Tehran, a Symbol Is Ready to Reappear | www.nytimes.com
By 1938, Germany under Adolf Hitler had for some years been rearming in defiance of its obligations under the Versailles treaty and other international agreements. Yet even though Hitler in Mein Kampf had explicitly spelled out the goals he was now preparing to pursue, scarcely anyone took him seriously. To the imminent victims of the war he was soon to start, Hitler’s book and his inflammatory speeches were nothing more than braggadocio
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Will half a "tablet of Viagra" do the trick?
July 20, 2009
Warren Buffett says second economic stimulus may be needed | www.dailyfinance.com
A second stimulus package seems to be called for by those whose patience about the need of a second one?
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South Africa's President Tries to Balance Redistribution and Growth
July 18, 2009
The Worst Job in the World | www.emergingmarketsoutlook.com
South African President Jacob Zuma, elected on a populist platform with strong support from labor and the Communist Party, in office has pursued sensible economic policies and a conciliatory approach to business. He now faces calls from his erstwhile supporters to nationalize the banks and mines and to pursue more aggressive redistribution policies. It is uncertain whether and for how long he can resist these pressures and what will be the long-term consequences for Africa's biggest economy.
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Biopharma - Skating to Where the Puck is Going to Be
July 15, 2009
The Pharmaceutical Industry Gives the Obama Health Care Initiative $80 Billion and Can Come Out with a Bigger Prize?? | pharmservices.blogspot.com
Promising cost-savings before they are forcibly removed from your business can be an effective strategy. The commitment from biopharma manufacturers could enable products developed in the future to be priced more favorably than if government controls are put in place across the board. Anticipating pharma's next move, how generic manufacturers will react and what Congress is likely to do with the promise is essential for investors.
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An $80 Billion Giveback to the Government by Pharma can Result in a 2 times ROI !!!
July 14, 2009
The Pharmaceutical Industry Gives the Obama Health Care Initiative $80 Billion and Can Come Out with a Bigger Prize?? | pharmservices.blogspot.com
The Obama administration's push to drive health care costs down may not be all bad news for the Bio-pharmaceutical Industry. While the industry recently announced/agreed to an $80 billion reduction over 10 years ($8 billion/year) in cost reductions to Medicare, they may be able to recoup a large piece of that assuming the uninsured population become covered under a plan that encompasses prescription drug costs. Incremental pharmaceutical prescription revenues could jump by $6-50 billion/year based on the assumptions one uses in per capita spend on pharmaceuticals and number of people whom would actually be covered under the plan. Taking a very conservative midpoint of 20 million incremental increase in covered people and a midpoint spend of $750/year per consumer on pharmaceuticals yields an additional $15 billion per year in revenues which equates to $150 billion over the 10 year life of the program that the industry (generously?) proposed.
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Jeff StierAssociate DirectorAmerican Council on Science and Health
Potential Good News for Biosimilars
July 14, 2009
US Senate panel backs 12-year biotech drug shelter | www.reuters.com
This is good news for Amgen Inc (AMGN.O) and Roche Holding AG (ROG.VX) as longer exclusivity passes a major Senate hurdle. While some are calling this a defeat for "generic" (biosimilar) makers such as Teva Pharmaceutical Industries Ltd (TEVA.TA) and Mylan Inc (MYL.O), it isn't all bad news.
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