Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
SEC looks into yet another venture; Market Funds!
February 11, 2008
SEC Probes Money Market Funds | www1.cchwallstreet.com
If market funds are some what of the most conservative investments why microscope them? The SEC's recent investigation into market funds may confirm what many financial investors already knew, if the market spirals downward expect the signal flares to go up!
Intrigue Persists As Regulators Press Monoline Bailout
February 4, 2008
8 Banks Discuss Aid for Bond Insurer (NYT-Feb. 2) | www.nytimes.com
1. Inconsistent statements are coming from NY and WI insurance regulators. 2. Commentators also differ on the condition of the monolines. 3. If these companies need rescue, there are implications for other financial companies that rely on ratings of Moody's and S&P.
January 22, 2008
Suppliers pushed on green initiatives | www.ft.com
Each time that first American and then European politicians succumb to pressure from small well organized pressure groups for social 'action,' they pass the costs of such action onto large, usually publicly owned, businesses, and usually also, specifically, exempt small, usually privately owned, businesses to avoid piling onto the small businesses the costs of mandatory compliance. But, as soon as the lights of the TV cameras and the laptops go dark, the newly regulated large, public, businesses immediately pass the new costs onto their supply bases while carefully taking the credit for compliance all to themselves.
Selling the airports is not always the right way to go.
January 11, 2008
Mexico should sell airports, cut fees, agency says | www.bloomberg.com
Most of the times selling the airports are not the right path to follow. There are others private participation options in public services, just like the concessions, specially the BOT (Build, Operate, Transfer).
US Treasury and IRS provisionally accept new Mexican tax under bilateral tax treaty
December 12, 2007
IRS Evaluates Mexican Business Tax | www.webcpa.com
This announcement suggests that the US government will accept the new Single Rate Business Tax (IETU) going forward, though the fact that it establishes a test period creates inherent doubt -- and therefore risk. Numerous other nations, including members of the European Union, Japan, Canada, and others, accepted the IETU outright.
November 26, 2007
Vodafone unit wins court injunction | www.ft.com
On the surface the Vodafone injunction against Deutsche Telekom (DT) would normally offend me. I hate using the legal system in a manner that prohibits competition. However, the injunction against DT is necessary. The whole idea of having a single device work on a single network effectively means consumers are forced into specific carrier networks because of a device as opposed to the services sold on the network. In effect, the consumer is given less choice. Its like being held hostage by a vendor and a carrier. What the situation in Europe can lead to is regulation and legislation, where there was once none. This is not the same as any retail business. If you think so, then you don’t get it.
European Court of Justice to decide on new sports betting cases after the Placanica decision
November 23, 2007
Two more refferals to the ECJ from the Administrative Court of Giessen | germangaminglaw.blogspot.com
Seven German sports betting cases are now pending before the ECJ (one from Cologne, three each from Stuttgart and Giessen). The German courts asked the ECJ whether a national monopoly can be upheld under EU law, if there is no coherent and systematic policy.
The Impact of New Derivative Products in India
November 16, 2007
SEBI Board approves New Derivative Products | www.sebi.gov.in
SEBI propose to introduce several new derivative products principally to bring more activity into the onshore markets in order to bring more trade onshore.
Russian Geo-Politics in Full Swing: Gazprom’s Shtockman Landed Norway & France
November 6, 2007
GAZPROM AND STATOILHYDRO SIGN AGREEMENT ON MAIN CONDITIONS FOR COOPERATION IN PHASE 1 SHTOKMAN FIELD DEVELOPMENT, International Herald Tribune | www.gazprom.com
Putin has scored again. This time he has successfully hit multiple targets : EU’s financial and energy policy, opening a bigger gap between USA and EU, and sowing the rift within EU, while acquiring perhaps a substantial part of portfolios of gas and oil exploratory licenses and down stream refineries from the U.S. Coast to Middle East, Africa to the Far East inclusive of Fiji and Tonga. The price? Not more than 24% of the management company stock to Norwegian StatoilHydro, who will make the Stockman reserves accessible to the Russian gas pipelines to Europe and 25% of the same stock to the French Total S.A. that is known to be able to make and/or smooth-out every gas or oil deal anywhere in the world. Under the deal, Gazprom will maintain 51 per cent of the management company and 100 percent of the company that controls the license for the project. In other words, Gazprom “will remain owner of all of the extracted hydrocarbons” as the statement says; brilliant.
Fragments of an analyzis of the Russian Energy Development Strategies
November 6, 2007
GAZPROM AND STATOILHYDRO SIGN AGREEMENT ON MAIN CONDITIONS FOR COOPERATION IN PHASE 1 SHTOKMAN FIELD DEVELOPMENT, International Herald Tribune | www.gazprom.com
The Shtokman contracting model might influence the future contracting regime in Russia regarding development of Russia's huge natural resources. If the Shtokman contract become a model for other contracts, it will reduce some existing uncertainty in the regulatory mechanisms affecting foreign investments. The Shtokman model will not remove external investment risk in any way, but it seems to clarify who owns the risk in the different project development stages. This can make it easier for the parties to take ownership to the risk, concentrating on avoiding the consequences. The Shtokman contracting model states that the Russian State owns the natural resources, "regardless" of what company or consortium that develop the resources.
Too Few Questions About Public Option Are Being Asked
October 27, 2009
New Climate Change Bill Lacks Critical RPS for Renewables
October 7, 2009
A $ 9.4 Million Dollar Mistake
September 25, 2009
Intellectual Property Right for Pharmaceutical Company
September 5, 2009
Quality Clinical Research in India
September 5, 2009