โพสต์
Bank of China's shares suspended
Trading in Bank of China shares has been suspended in Shanghai after the company did not comment on reports that it was planning big write-downs.
"Bank of China failed to make a statement on an important event," the Shanghai stock exchange said.
According to media reports, the Bank of China may post a loss for 2007 because of its exposure to the US sub-prime mortgage sector.
The bank's Hong Kong-listed shares were not suspended and lost 8.6% on Tuesday.
The stock also fell 6.4% in Hong Kong on Monday on the media reports, but Bank of China, one of the largest in the country, said on Tuesday it was "not aware of any reasons for such movement".
' Expectation of a loss'
Meanwhile, the Shanghai Composite index followed the global trend on Tuesday and fell 7.2%, after dropping 5% on Monday, while Hong Kong shares experienced a record one-day fall of 8.7%.
Zhang Gang, an analyst at Southwest Securities, said that investors were "worried that the US credit crisis may spread into other countries".
"Financial stocks were hit the most, with the sentiment dampened on the expectation of a loss in the Bank of China annual report," said Shen Jun at Bank of China International.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 202086.stm
Published: 2008/01/22 10:54:17 GMT
© BBC MMVIII
บทความน่าสนใจทางธุรกิจจาก BBC Business
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 92
Starbucks brews $1 cup of coffee
Starbucks has confirmed reports it has started to sell a $1 (51 pence) cup of coffee in certain stores in Seattle as a trial.
But the US coffee giant said there were no guarantees that the cheap brew would be added to the menus across its outlets in the US or overseas.
Starbucks popularised luxury coffee with a price tag of up to $6.
But its business has suffered from slowing consumer spending and competition from low-cost rivals.
This test is not indicative of any new business strategy
Starbucks spokeswoman
The news had first been reported in the Wall Street Journal, which also said the Seattle-based company was experimenting with giving free refills of some of its offerings.
"We are conducting a test in the Seattle area," said a Starbucks spokeswoman.
"However, this test is not indicative of any new business strategy," she added.
Starbucks would not comment on specific details of the trial.
The firm is trying to lift its sagging fortunes, which saw its shares fall by more than 40% last year.
Coffee war
Higher dairy and energy prices have seen the firm push up prices of its lattes and espressos and many US consumers, suffering from higher bills and home loan repayments, have stayed away.
In addition, analysts warn the specialist coffee firm faces steep competition from fast-food chains, such as McDonald's, which is in the process of introducing its own line of gourmet coffee.
Starbucks sacked its chief executive, Jim Donald, at the beginning of the year and handed the reins back to its chairman and former chief executive, Howard Schultz, to steer a recovery effort.
This includes closing some US stores and slowing the pace of opening new ones.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 205636.stm
Published: 2008/01/23 19:43:53 GMT
© BBC MMVIII
Starbucks has confirmed reports it has started to sell a $1 (51 pence) cup of coffee in certain stores in Seattle as a trial.
But the US coffee giant said there were no guarantees that the cheap brew would be added to the menus across its outlets in the US or overseas.
Starbucks popularised luxury coffee with a price tag of up to $6.
But its business has suffered from slowing consumer spending and competition from low-cost rivals.
This test is not indicative of any new business strategy
Starbucks spokeswoman
The news had first been reported in the Wall Street Journal, which also said the Seattle-based company was experimenting with giving free refills of some of its offerings.
"We are conducting a test in the Seattle area," said a Starbucks spokeswoman.
"However, this test is not indicative of any new business strategy," she added.
Starbucks would not comment on specific details of the trial.
The firm is trying to lift its sagging fortunes, which saw its shares fall by more than 40% last year.
Coffee war
Higher dairy and energy prices have seen the firm push up prices of its lattes and espressos and many US consumers, suffering from higher bills and home loan repayments, have stayed away.
In addition, analysts warn the specialist coffee firm faces steep competition from fast-food chains, such as McDonald's, which is in the process of introducing its own line of gourmet coffee.
Starbucks sacked its chief executive, Jim Donald, at the beginning of the year and handed the reins back to its chairman and former chief executive, Howard Schultz, to steer a recovery effort.
This includes closing some US stores and slowing the pace of opening new ones.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 205636.stm
Published: 2008/01/23 19:43:53 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 93
Suharto's battle with corruption charges
By Anthony Reuben
Business reporter, BBC News
In the 10 years since he was ousted from power in the midst of the Asian Financial Crisis, former Indonesian President Suharto had been battling against allegations of corruption in office.
In 2004, the anti-graft group Transparency International named Mr Suharto at the top of its corruption league, putting his haul at between $15bn and $35bn.
Even as he lay in the hospital, Indonesia's Attorney-General Hendarman Supandji was seeking a resolution to a civil case against the former president.
"The president gave instructions to me to pursue the family of Suharto to finalise an out-of-court settlement of the civil case," he told reporters at the hospital.
He was there despite calls from some Indonesians for the case to be dropped.
"Dropping the case is not about clemency," Mr Supandji said.
"As it is a civil case, even if Suharto died, it would still be continued against his family."
Criminal charges
A criminal corruption case against him was suspended in 2000 after he suffered a series of strokes. The case was finally dropped in May 2006.
It had accused him of embezzling at least $600m from the state.
RISE AND FALL OF SUHARTO
Born in Java, June 1921
Comes to power in 1965 after alleged Communist coup attempt
Formally replaces Sukarno as president in March 1967
Modernisation programmes in the 70s and 80s raise living standards
East Timor invaded in late 1975
Asian economic crisis of the 1990s hits Indonesian economy
Spiralling prices and discontent force him to resign in May 1998
Judges rule he is unfit to stand trial for corruption in 2000
Transparency International says he tops the world all-time corruption table in March 2004
But prosecutors tried again for a conviction in July 2007, filing a civil lawsuit against Suharto and his Supersemar foundation.
They were seeking $440m that prosecutors say was diverted to his family and friends from a scholarship fund for underprivileged children, and an extra $1.1bn in damages.
Much of Mr Suharto's wealth is alleged to have been siphoned from yayasans, which were presidential foundations, funded by voluntary contributions that were supposed to pay for projects such as schools.
In fact, it is alleged that the contributions came from levies on anything from utility bills to cinema tickets and that the Suharto family freely dipped into the accounts when they needed funding.
Court victory
The former president always denied doing anything wrong and he finally had a success in his battle to clear his name last August.
Indonesia's Supreme Court ordered Time Magazine of the US to pay him damages of $106m (£52m) for an article published in 1999, which alleged that $73bn had passed through the Suharto family's hands during his 32-year reign.
The article went on to say that his family had lost much of its wealth during the financial crisis, but still had $15bn at the time of publication.
The same year, Forbes Magazine estimated his personal wealth at $16bn.
It had been a long road for the defamation case, which had been rejected by Jakarta's District Court in 2000 and then the Appeal Court in 2001, before being supported by the Supreme Court.
Time said it would fight the ruling and described it as an attack on the freedom of the press.
Colossal fortune
There is clearly much disagreement about how much the family is worth.
An article in the Wall Street Journal in 1998 put their wealth at up to $4bn, but said that given the opportunities they had to profit from Indonesia's natural resources it is surprising that they had not managed to accumulate one of the world's most colossal fortunes.
Among the industries they were said to have been involved with were car manufacturing, logging, construction and cloves production.
Cloves are lucrative in Indonesia because they are put in cigarettes.
A firm linked to Suharto's oldest daughter Siti Hardiyanti Rukmana dominated Jakarta's toll roads.
His son, Tommy, served four years in prison for ordering the murder of a judge who had previously convicted him on charges of corruption and illegal possession of weapons.
The family is reported to have homes in Bermuda, the Cayman Islands and Hawaii as well as a mansion outside Los Angeles.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 193517.stm
Published: 2008/01/27 06:57:27 GMT
© BBC MMVIII
By Anthony Reuben
Business reporter, BBC News
In the 10 years since he was ousted from power in the midst of the Asian Financial Crisis, former Indonesian President Suharto had been battling against allegations of corruption in office.
In 2004, the anti-graft group Transparency International named Mr Suharto at the top of its corruption league, putting his haul at between $15bn and $35bn.
Even as he lay in the hospital, Indonesia's Attorney-General Hendarman Supandji was seeking a resolution to a civil case against the former president.
"The president gave instructions to me to pursue the family of Suharto to finalise an out-of-court settlement of the civil case," he told reporters at the hospital.
He was there despite calls from some Indonesians for the case to be dropped.
"Dropping the case is not about clemency," Mr Supandji said.
"As it is a civil case, even if Suharto died, it would still be continued against his family."
Criminal charges
A criminal corruption case against him was suspended in 2000 after he suffered a series of strokes. The case was finally dropped in May 2006.
It had accused him of embezzling at least $600m from the state.
RISE AND FALL OF SUHARTO
Born in Java, June 1921
Comes to power in 1965 after alleged Communist coup attempt
Formally replaces Sukarno as president in March 1967
Modernisation programmes in the 70s and 80s raise living standards
East Timor invaded in late 1975
Asian economic crisis of the 1990s hits Indonesian economy
Spiralling prices and discontent force him to resign in May 1998
Judges rule he is unfit to stand trial for corruption in 2000
Transparency International says he tops the world all-time corruption table in March 2004
But prosecutors tried again for a conviction in July 2007, filing a civil lawsuit against Suharto and his Supersemar foundation.
They were seeking $440m that prosecutors say was diverted to his family and friends from a scholarship fund for underprivileged children, and an extra $1.1bn in damages.
Much of Mr Suharto's wealth is alleged to have been siphoned from yayasans, which were presidential foundations, funded by voluntary contributions that were supposed to pay for projects such as schools.
In fact, it is alleged that the contributions came from levies on anything from utility bills to cinema tickets and that the Suharto family freely dipped into the accounts when they needed funding.
Court victory
The former president always denied doing anything wrong and he finally had a success in his battle to clear his name last August.
Indonesia's Supreme Court ordered Time Magazine of the US to pay him damages of $106m (£52m) for an article published in 1999, which alleged that $73bn had passed through the Suharto family's hands during his 32-year reign.
The article went on to say that his family had lost much of its wealth during the financial crisis, but still had $15bn at the time of publication.
The same year, Forbes Magazine estimated his personal wealth at $16bn.
It had been a long road for the defamation case, which had been rejected by Jakarta's District Court in 2000 and then the Appeal Court in 2001, before being supported by the Supreme Court.
Time said it would fight the ruling and described it as an attack on the freedom of the press.
Colossal fortune
There is clearly much disagreement about how much the family is worth.
An article in the Wall Street Journal in 1998 put their wealth at up to $4bn, but said that given the opportunities they had to profit from Indonesia's natural resources it is surprising that they had not managed to accumulate one of the world's most colossal fortunes.
Among the industries they were said to have been involved with were car manufacturing, logging, construction and cloves production.
Cloves are lucrative in Indonesia because they are put in cigarettes.
A firm linked to Suharto's oldest daughter Siti Hardiyanti Rukmana dominated Jakarta's toll roads.
His son, Tommy, served four years in prison for ordering the murder of a judge who had previously convicted him on charges of corruption and illegal possession of weapons.
The family is reported to have homes in Bermuda, the Cayman Islands and Hawaii as well as a mansion outside Los Angeles.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 193517.stm
Published: 2008/01/27 06:57:27 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 94
Banned Beatles get Israel invite
Israel is inviting the surviving members of The Beatles to celebrate the country's anniversary, 43 years after it banned the group.
The Israeli ambassador to London, Ron Prosor, has met John Lennon's sister, Julia Baird, in Liverpool.
He has invited Sir Paul McCartney, Ringo Starr and relatives of Lennon and George Harrison to come to Israel in May for the 60th anniversary.
Israel banned the Beatles in 1965, fearing they would corrupt young fans.
But the Mr Prosor - who is in Liverpool after marking Holocaust Memorial Day there - is a big fan of the Beatles and would like them to be part of the planned birthday celebrations.
"I would be very happy to have them come on Israel's 60th anniversary," he said.
"Lots of music lovers in Israel, both young and young-at-heart - and that means me - are really waiting for them."
Culture capital
The invitation has been passed to the director of the city's Beatles Story museum, Jerry Goldman.
Mr Goldman said: "I've got close ties to Israel, so I'm thrilled. It would be fantastic if they did visit."
But he added: "I know how difficult it was to get them to Liverpool. So I think there's only a slim chance of them going to Israel."
Ringo Starr launched Liverpool's year as European Capital of Culture in January.
He opened proceedings with a drum solo from the top of St George's Hall, before singing his latest single Liverpool 8.
Sir Paul is due to be the star attraction in June with a concert at Anfield which is expected to draw more than 30,000 people.
Liverpool is trying to develop cultural links with Israel, including the possibility of building a new museum dedicated to Jewish music.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/e ... 213105.stm
Published: 2008/01/28 17:42:55 GMT
© BBC MMVIII
Israel is inviting the surviving members of The Beatles to celebrate the country's anniversary, 43 years after it banned the group.
The Israeli ambassador to London, Ron Prosor, has met John Lennon's sister, Julia Baird, in Liverpool.
He has invited Sir Paul McCartney, Ringo Starr and relatives of Lennon and George Harrison to come to Israel in May for the 60th anniversary.
Israel banned the Beatles in 1965, fearing they would corrupt young fans.
But the Mr Prosor - who is in Liverpool after marking Holocaust Memorial Day there - is a big fan of the Beatles and would like them to be part of the planned birthday celebrations.
"I would be very happy to have them come on Israel's 60th anniversary," he said.
"Lots of music lovers in Israel, both young and young-at-heart - and that means me - are really waiting for them."
Culture capital
The invitation has been passed to the director of the city's Beatles Story museum, Jerry Goldman.
Mr Goldman said: "I've got close ties to Israel, so I'm thrilled. It would be fantastic if they did visit."
But he added: "I know how difficult it was to get them to Liverpool. So I think there's only a slim chance of them going to Israel."
Ringo Starr launched Liverpool's year as European Capital of Culture in January.
He opened proceedings with a drum solo from the top of St George's Hall, before singing his latest single Liverpool 8.
Sir Paul is due to be the star attraction in June with a concert at Anfield which is expected to draw more than 30,000 people.
Liverpool is trying to develop cultural links with Israel, including the possibility of building a new museum dedicated to Jewish music.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/e ... 213105.stm
Published: 2008/01/28 17:42:55 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 95
Australia apology to Aborigines
The Australian government has announced it will issue its first formal apology to Aboriginal people when parliament resumes next month.
Indigenous Affairs Minister Jenny Macklin said the apology would be the first item of business when the new legislature convened on 13 February.
It is aimed at the "Stolen Generations" - Aboriginal children taken from their parents to be raised by white families.
It was the "first, necessary step to move forward from the past", she said.
Prime Minister Kevin Rudd announced plans to apologise after his victory in last year's general elections.
The move is a highly symbolic one marking a definitive break from policies of previous administrations, correspondents say.
Respect
Ms Macklin said that the content of the apology had been determined after wide consultation with Aboriginal leaders.
It would be made "on behalf of the Australian government and does not attribute guilt to the current generation of Australian people", she said in a statement.
"Once we establish this respect, the government can work with indigenous communities to improve services aimed at closing the 17-year life expectancy gap between indigenous and non-indigenous Australians," she said.
Thousands of Aboriginal children were forcibly taken from their parents and given to white families or institutions to raise between 1915 and 1969.
The policy was aimed at forcing assimilation between Aboriginal and white communities.
Indigenous campaigners have been seeking a billion-dollar nationwide compensation package for the policy.
But the government has ruled this out, instead promising to fund improved education and health care facilities for Aboriginal communities.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/a ... 216873.stm
Published: 2008/01/30 06:56:45 GMT
© BBC MMVIII
The Australian government has announced it will issue its first formal apology to Aboriginal people when parliament resumes next month.
Indigenous Affairs Minister Jenny Macklin said the apology would be the first item of business when the new legislature convened on 13 February.
It is aimed at the "Stolen Generations" - Aboriginal children taken from their parents to be raised by white families.
It was the "first, necessary step to move forward from the past", she said.
Prime Minister Kevin Rudd announced plans to apologise after his victory in last year's general elections.
The move is a highly symbolic one marking a definitive break from policies of previous administrations, correspondents say.
Respect
Ms Macklin said that the content of the apology had been determined after wide consultation with Aboriginal leaders.
It would be made "on behalf of the Australian government and does not attribute guilt to the current generation of Australian people", she said in a statement.
"Once we establish this respect, the government can work with indigenous communities to improve services aimed at closing the 17-year life expectancy gap between indigenous and non-indigenous Australians," she said.
Thousands of Aboriginal children were forcibly taken from their parents and given to white families or institutions to raise between 1915 and 1969.
The policy was aimed at forcing assimilation between Aboriginal and white communities.
Indigenous campaigners have been seeking a billion-dollar nationwide compensation package for the policy.
But the government has ruled this out, instead promising to fund improved education and health care facilities for Aboriginal communities.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/a ... 216873.stm
Published: 2008/01/30 06:56:45 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 97
Fans make Liverpool takeover move
By Bill Wilson
Business reporter, BBC News
Liverpool supporters are to launch an ambitious plan to buy the football club from its current American owners.
US tycoons George Gillett and Tom Hicks recently finalised a £350m refinancing of the club which they bought in 2007.
But the Share Liverpool FC Group is to reveal plans for a buy-out of the club by 100,000 Reds fans around the world.
The model proposed will be a Barcelona style, "member-share" scheme, aimed at raising £500m to purchase the club from its US owners and build a new stadium.
As well as UK-based fans, a website will be launched to attract interest from Liverpool's supporter base around the world, particularly in East Asia.
Club refinancing
Those behind the move are football business lecturer and Liverpool fan Rogan Taylor, former director of communications at the Premier League Phil French, and lawyer Kevin Jacquiss - an expert in launching co-operatives.
"The time is right to offer a different solution to the rising concerns that football fans have about the patterns of ownership developing at our major football clubs," said Mr Taylor, who is director of the Football Industry Group at the University of Liverpool.
Full details of how the fans' group hopes to buy the club will be revealed later on Thursday, although the initial figures seem to suggest an investment per supporter of £5,000 each.
Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs
Rogan Taylor, Share Liverpool FC Group
Many Liverpool supporters have been unhappy at the recent uncertainty surrounding the refinancing of the club.
After much delay, and reports that either one or both of the owners was willing to sell a stake to Dubai's DIC, a refinancing deal was signed last week with the Royal Bank of Scotland and US bank Wachovia.
Tom Hicks confirmed to the BBC last week that of the £350m refinancing package, £105m of that will be debt tied to the club.
Of that total, £45m will be used for future player transfers and to meet the club's working capital needs, and the remaining £60m is thought to be free for start-up money for a new Liverpool stadium.
However, some supporters are unhappy about debt being placed on to the club, and there is also a perception that the owners' support for manager Rafa Benitez has not been as strong as it might.
Debt burden
"Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs," said Mr Taylor.
"Large amounts of debt often devolves onto clubs newly purchased, but the fans know that in the end, it will be they themselves who will have to pay it off through increased ticket prices and other schemes.
"In such a case, why not simply buy the club yourselves?"
He said that many fans were unaware that there were other ways of financing and taking ownership of big clubs.
Mr Taylor said that in Germany and Spain most top-level football clubs were not for sale as they were owned by many thousands of "member fans".
"The Champions League has been won on six occasions in the last 15 years by clubs owned and run in such a way," he said.
Barcelona, which won the Champions League in 2006, is owned by its 100,000 fan-members.
Stadium plan
Earlier this month a survey carried out by the Liverpool Supporters' network showed that 76% of 2,000 fans questioned said they would "seriously consider reducing their financial commitment to the club" if the current owners stayed in charge.
When asked to choose between the owners and the manager as to who had the best interest of the club at heart, 99% backed Benitez.
However, Tom Hicks and George Gillett have insisted that they are fully behind manager Rafael Benitez.
They also say the club plans to build the 71,000-seat venue close to Anfield in Stanley Park in time for the 2011-12 season.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 217238.stm
Published: 2008/01/31 00:20:45 GMT
© BBC MMVIII
By Bill Wilson
Business reporter, BBC News
Liverpool supporters are to launch an ambitious plan to buy the football club from its current American owners.
US tycoons George Gillett and Tom Hicks recently finalised a £350m refinancing of the club which they bought in 2007.
But the Share Liverpool FC Group is to reveal plans for a buy-out of the club by 100,000 Reds fans around the world.
The model proposed will be a Barcelona style, "member-share" scheme, aimed at raising £500m to purchase the club from its US owners and build a new stadium.
As well as UK-based fans, a website will be launched to attract interest from Liverpool's supporter base around the world, particularly in East Asia.
Club refinancing
Those behind the move are football business lecturer and Liverpool fan Rogan Taylor, former director of communications at the Premier League Phil French, and lawyer Kevin Jacquiss - an expert in launching co-operatives.
"The time is right to offer a different solution to the rising concerns that football fans have about the patterns of ownership developing at our major football clubs," said Mr Taylor, who is director of the Football Industry Group at the University of Liverpool.
Full details of how the fans' group hopes to buy the club will be revealed later on Thursday, although the initial figures seem to suggest an investment per supporter of £5,000 each.
Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs
Rogan Taylor, Share Liverpool FC Group
Many Liverpool supporters have been unhappy at the recent uncertainty surrounding the refinancing of the club.
After much delay, and reports that either one or both of the owners was willing to sell a stake to Dubai's DIC, a refinancing deal was signed last week with the Royal Bank of Scotland and US bank Wachovia.
Tom Hicks confirmed to the BBC last week that of the £350m refinancing package, £105m of that will be debt tied to the club.
Of that total, £45m will be used for future player transfers and to meet the club's working capital needs, and the remaining £60m is thought to be free for start-up money for a new Liverpool stadium.
However, some supporters are unhappy about debt being placed on to the club, and there is also a perception that the owners' support for manager Rafa Benitez has not been as strong as it might.
Debt burden
"Thousands of Liverpool fans have already demonstrated their dissatisfaction with the current state of affairs," said Mr Taylor.
"Large amounts of debt often devolves onto clubs newly purchased, but the fans know that in the end, it will be they themselves who will have to pay it off through increased ticket prices and other schemes.
"In such a case, why not simply buy the club yourselves?"
He said that many fans were unaware that there were other ways of financing and taking ownership of big clubs.
Mr Taylor said that in Germany and Spain most top-level football clubs were not for sale as they were owned by many thousands of "member fans".
"The Champions League has been won on six occasions in the last 15 years by clubs owned and run in such a way," he said.
Barcelona, which won the Champions League in 2006, is owned by its 100,000 fan-members.
Stadium plan
Earlier this month a survey carried out by the Liverpool Supporters' network showed that 76% of 2,000 fans questioned said they would "seriously consider reducing their financial commitment to the club" if the current owners stayed in charge.
When asked to choose between the owners and the manager as to who had the best interest of the club at heart, 99% backed Benitez.
However, Tom Hicks and George Gillett have insisted that they are fully behind manager Rafael Benitez.
They also say the club plans to build the 71,000-seat venue close to Anfield in Stanley Park in time for the 2011-12 season.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 217238.stm
Published: 2008/01/31 00:20:45 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 98
High heels 'may improve sex life'
Wearing higher heels - although perhaps not stilettos - may improve your pelvic floor muscles and in doing so boost your sex life, a study suggests.
An Italian urologist and self-professed lover of the sexy shoe set out to prove that high heels were not as bad for women's health as some suggest.
The shoe has been linked to a range of problems - from corns to schizophrenia.
But in a letter to European Urology, Dr Maria Cerruto said her research showed it was time to stand up for the heel.
She said her study of 66 women under 50 found that those who held their foot at a 15 degree angle to the ground - the equivalent of a two inch heel - had as good posture as those who wore flat shoes, and crucially showed less electrical activity in their pelvic muscles.
This suggested the muscles were at an optimum position, which could well improve their strength and ability to contract.
The pelvic floor muscles are an essential component of the female body. As well as assisting sexual performance and satisfaction, they provide vital support to the pelvic organs, which include the bladder, bowels and uterus.
But they often weaken after pregnancy and childbirth, and as the woman gets older. There are exercises to strengthen them, but Dr Cerruto hopes her findings may eliminate the need for these.
"Women often have difficulty in carrying out the right exercises for the pelvic zone and wearing heels could be the solution," she said.
"Like many women, I like high-heeled shoes," she added. "It's good to know they have potential health benefits."
Gill Brook, a women's health physiotherapist in Bradford, stressed the findings did not suggest that stilettos were a good thing for those keen on improving their pelvic floor function.
"But for women who like a slightly higher heel, these are reassuring findings - although we haven't yet done away with the need for regular exercises to maintain what is such an important part of the female body."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/h ... 225828.stm
Published: 2008/02/04 10:43:53 GMT
© BBC MMVIII
Wearing higher heels - although perhaps not stilettos - may improve your pelvic floor muscles and in doing so boost your sex life, a study suggests.
An Italian urologist and self-professed lover of the sexy shoe set out to prove that high heels were not as bad for women's health as some suggest.
The shoe has been linked to a range of problems - from corns to schizophrenia.
But in a letter to European Urology, Dr Maria Cerruto said her research showed it was time to stand up for the heel.
She said her study of 66 women under 50 found that those who held their foot at a 15 degree angle to the ground - the equivalent of a two inch heel - had as good posture as those who wore flat shoes, and crucially showed less electrical activity in their pelvic muscles.
This suggested the muscles were at an optimum position, which could well improve their strength and ability to contract.
The pelvic floor muscles are an essential component of the female body. As well as assisting sexual performance and satisfaction, they provide vital support to the pelvic organs, which include the bladder, bowels and uterus.
But they often weaken after pregnancy and childbirth, and as the woman gets older. There are exercises to strengthen them, but Dr Cerruto hopes her findings may eliminate the need for these.
"Women often have difficulty in carrying out the right exercises for the pelvic zone and wearing heels could be the solution," she said.
"Like many women, I like high-heeled shoes," she added. "It's good to know they have potential health benefits."
Gill Brook, a women's health physiotherapist in Bradford, stressed the findings did not suggest that stilettos were a good thing for those keen on improving their pelvic floor function.
"But for women who like a slightly higher heel, these are reassuring findings - although we haven't yet done away with the need for regular exercises to maintain what is such an important part of the female body."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/h ... 225828.stm
Published: 2008/02/04 10:43:53 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 99
US service sector in sharp fall
The US service sector contracted in January for the first time in almost five years, a survey has shown.
The Institute for Supply Management's index of service sector business activity fell to 41.9, from 54.4 for the previous month.
The dividing line between growth and contraction is 50. The unexpectedly weak reading stoked fears that the US would fall into recession.
Wall Street shares tumbled on the news, while the UK's FTSE 100 fell 1.8%.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 228760.stm
Published: 2008/02/05 15:37:19 GMT
© BBC MMVIII
The US service sector contracted in January for the first time in almost five years, a survey has shown.
The Institute for Supply Management's index of service sector business activity fell to 41.9, from 54.4 for the previous month.
The dividing line between growth and contraction is 50. The unexpectedly weak reading stoked fears that the US would fall into recession.
Wall Street shares tumbled on the news, while the UK's FTSE 100 fell 1.8%.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 228760.stm
Published: 2008/02/05 15:37:19 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 100
Thai diners show appetite for rat
Roasted rat on sale
Thai fast food sellers are enjoying a boom in rat sales, as people learn to love the taste of the rodent.
While rat has long been eaten in Thailand's poorer northern regions, a growing number of the country's roadside vendors are now serving it up.
The rats are drowned and sold uncooked or ready to eat, with happy customers purchasing rat meat for as much as 150 baht ($4.82; £2.30) a kilogram.
"It's better than chicken," one customer told the AP news agency.
'Nothing can compete'
"It all depends what you like, but it's a normal meat like any other," added Thongyu Roruchit.
They are definitely clean
Rat vendor Sala Prompim
One rat seller, Sala Prompim, said that the hip and liver were the best cuts.
"It's tastier than other meats - nothing can compete with rat," he added.
Mr Prompim said he only used rats caught from rice fields, and not those found in towns or cities.
"They are definitely clean," he said.
The animals are killed by drowning, before being skinned ready for cooking - poached, fried, grilled or baked.
Mr Prompim says he sells as much as 100kg of rat meat on some days.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 230233.stm
Published: 2008/02/06 12:33:58 GMT
© BBC MMVIII
Roasted rat on sale
Thai fast food sellers are enjoying a boom in rat sales, as people learn to love the taste of the rodent.
While rat has long been eaten in Thailand's poorer northern regions, a growing number of the country's roadside vendors are now serving it up.
The rats are drowned and sold uncooked or ready to eat, with happy customers purchasing rat meat for as much as 150 baht ($4.82; £2.30) a kilogram.
"It's better than chicken," one customer told the AP news agency.
'Nothing can compete'
"It all depends what you like, but it's a normal meat like any other," added Thongyu Roruchit.
They are definitely clean
Rat vendor Sala Prompim
One rat seller, Sala Prompim, said that the hip and liver were the best cuts.
"It's tastier than other meats - nothing can compete with rat," he added.
Mr Prompim said he only used rats caught from rice fields, and not those found in towns or cities.
"They are definitely clean," he said.
The animals are killed by drowning, before being skinned ready for cooking - poached, fried, grilled or baked.
Mr Prompim says he sells as much as 100kg of rat meat on some days.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 230233.stm
Published: 2008/02/06 12:33:58 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Jeng
- สมาชิกกิตติมศักดิ์
- โพสต์: 14783
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 101
วิกฤติ น้ำมัน ถ่านหิน ข้าว ข้าวโพด ถั่วเหลือง น้ำมันพืช และอื่นๆ
แล้วยังมาบูมกับการกินหนู
สงสาร ลูกหลานมนุษย์ในอนาคตจัง
คิดๆแล้วเหมือนสมัยเรียน มศ.5 เรื่องประชากร หนู และ อีโคไล เลี้ยงในที่จำกัด
ในที่สุด หนู และอีโคไล ก็ไล่กินกันเอง เพราะอาหารหมด
อนาคต เนื้อที่น่ากินและอร่อยที่สุดก็ คงจะเป็นเนื้อคน ตายใหม่ๆ
ราคา หลายตังต่อกิโล และไม่ต้องเสียเวลาไปฝังด้วย
แล้วยังมาบูมกับการกินหนู
สงสาร ลูกหลานมนุษย์ในอนาคตจัง
คิดๆแล้วเหมือนสมัยเรียน มศ.5 เรื่องประชากร หนู และ อีโคไล เลี้ยงในที่จำกัด
ในที่สุด หนู และอีโคไล ก็ไล่กินกันเอง เพราะอาหารหมด
อนาคต เนื้อที่น่ากินและอร่อยที่สุดก็ คงจะเป็นเนื้อคน ตายใหม่ๆ
ราคา หลายตังต่อกิโล และไม่ต้องเสียเวลาไปฝังด้วย
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 102
Asia 'not immune' to US slowdown
The head of the Asian Development Bank, Haruhiko Kuroda, warned that the US economic downturn will take its toll on emerging Asian economies.
But he stressed that rising inflation in the region is currently more of a threat than worries about a slowdown.
His comments came ahead of meeting of finance ministers from the G7 group of wealthy nations in Tokyo on Saturday.
There are expected to discuss ways they can cooperate to boost global economic growth and avoid a world credit crunch.
Last week, the International Monetary Fund cut its global economic growth forecast from 4.4% to 4.1%, the lowest in five years.
Coordinated action?
Following aggressive interest rate cuts in the US and the approval of a bill giving Americans tax rebates worth $167bn (£86bn), the focus will be on whether other industrialised nations will implement stimulus plans of their own.
But UK chancellor Alistair Darling played down the chances of coordinated action to tackle the global slowdown.
"The first thing is that conditions in different countries are not the same," he said.
While steep interest rate cuts and government spending might be the right move in the US, he said "other countries are not in the same position".
The G7 countries include the US, Japan, the UK, Canada, France, Germany and Italy, all of which are experiencing a significant slowdown in growth.
Wider problems
Meanwhile, China, India and other East and South East Asian economies have experienced break-neck growth over the past few years as current account surpluses and foreign exchange reserves have ballooned.
But as the global credit crisis and US housing slump has brought the world's largest economy to its knees, concerns have persisted that these problems would spread to Asia, which is heavily reliant on US imports of its products and foreign investment for growth
The ADB's Mr Kuroda confirmed these worries.
"A significant slowdown in the US economy will most certainly affect the region's growth performance through investment, trade and financial linkages," he said.
"A deep and prolonged US recession should it ever occur, could be accompanied by much slower growth in Asia."
He said that in that case, governments should take steps to bolster confidence in the region's economies, including introducing fiscal measures if necessary.
But Mr Kuroda added that this was not an immediate priority for Asia's policy makers right now, as they struggle to put a lid on spiralling consumer prices.
Eurozone fears
Meanwhile, perception have changed as to whether the European Central Bank (ECB) is likely to reduce interest rates from their current level of 4% to help boost growth in the eurozone.
ECB President Jean-Claude Trichet has previously maintained a tough line on controlling inflation in the 15-nation bloc that uses the euro despite clear signs that a frail recovery was running out of steam.
But following an ECB decision to keep rates on hold on Thursday, he appeared to shift focus, stressing the risks to the global economy in his press conference.
This raised hopes that eurozone interest rates could be cut later this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 234184.stm
Published: 2008/02/08 11:06:24 GMT
© BBC MMVIII
The head of the Asian Development Bank, Haruhiko Kuroda, warned that the US economic downturn will take its toll on emerging Asian economies.
But he stressed that rising inflation in the region is currently more of a threat than worries about a slowdown.
His comments came ahead of meeting of finance ministers from the G7 group of wealthy nations in Tokyo on Saturday.
There are expected to discuss ways they can cooperate to boost global economic growth and avoid a world credit crunch.
Last week, the International Monetary Fund cut its global economic growth forecast from 4.4% to 4.1%, the lowest in five years.
Coordinated action?
Following aggressive interest rate cuts in the US and the approval of a bill giving Americans tax rebates worth $167bn (£86bn), the focus will be on whether other industrialised nations will implement stimulus plans of their own.
But UK chancellor Alistair Darling played down the chances of coordinated action to tackle the global slowdown.
"The first thing is that conditions in different countries are not the same," he said.
While steep interest rate cuts and government spending might be the right move in the US, he said "other countries are not in the same position".
The G7 countries include the US, Japan, the UK, Canada, France, Germany and Italy, all of which are experiencing a significant slowdown in growth.
Wider problems
Meanwhile, China, India and other East and South East Asian economies have experienced break-neck growth over the past few years as current account surpluses and foreign exchange reserves have ballooned.
But as the global credit crisis and US housing slump has brought the world's largest economy to its knees, concerns have persisted that these problems would spread to Asia, which is heavily reliant on US imports of its products and foreign investment for growth
The ADB's Mr Kuroda confirmed these worries.
"A significant slowdown in the US economy will most certainly affect the region's growth performance through investment, trade and financial linkages," he said.
"A deep and prolonged US recession should it ever occur, could be accompanied by much slower growth in Asia."
He said that in that case, governments should take steps to bolster confidence in the region's economies, including introducing fiscal measures if necessary.
But Mr Kuroda added that this was not an immediate priority for Asia's policy makers right now, as they struggle to put a lid on spiralling consumer prices.
Eurozone fears
Meanwhile, perception have changed as to whether the European Central Bank (ECB) is likely to reduce interest rates from their current level of 4% to help boost growth in the eurozone.
ECB President Jean-Claude Trichet has previously maintained a tough line on controlling inflation in the 15-nation bloc that uses the euro despite clear signs that a frail recovery was running out of steam.
But following an ECB decision to keep rates on hold on Thursday, he appeared to shift focus, stressing the risks to the global economy in his press conference.
This raised hopes that eurozone interest rates could be cut later this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 234184.stm
Published: 2008/02/08 11:06:24 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 103
G7 issues global economy warning
The global economy could deteriorate further in the wake of the global credit crunch, a meeting of the G7 group of wealthy nations has warned.
But the group pledged to act individually and together to promote stability and growth.
It also urged banks to disclose all their losses and bolster their balance sheets to help stabilise markets.
The group's statement came after a day-long meeting of ministers and central bank governors in Tokyo.
"In all our economies, to varying degrees, growth is expected to slow somewhat in the short term," it said.
As financial officials, we need to respond resolutely and proactively to the turmoil
Hank Paulson
US Treasury Secretary
The G7 nations said that continuing risks included further problems for the US housing market, tighter credit, high commodity prices and rising inflation.
"Going forward, we will continue to watch developments closely and continue to take appropriate actions, individually and collectively, in order to secure stability and growth in our economies," they said.
They also called on oil producers to increase output and on China to let its currency appreciate faster.
US woes
US Treasury Secretary Hank Paulson said current financial turmoil was "serious and persisting".
"As the financial markets recover from this period of stress, as of course they will, we should expect continued volatility as risk is repriced," he said.
"As financial officials, we need to respond resolutely and proactively to the turmoil."
He did not suggest specific measures for G7 partners to take.
Mr Paulson said he was confident in the long-term health of the US economy and expected it to grow this year, but also said a recent stimulus package had been crucial.
Global trends
The G7 countries include the US, Japan, the UK, Canada, France, Germany and Italy, all of which are experiencing a significant slowdown in growth.
Meanwhile, China, India and other East and South East Asian economies have experienced break-neck growth over the past few years as current account surpluses and foreign exchange reserves have ballooned.
But as the global credit crisis and US housing slump has brought the world's largest economy to its knees, concerns have persisted that these problems would spread to Asia, which is heavily reliant on US imports of its products and foreign investment for growth.
On Friday, Haruhiko Kuroda, the head of the Asian Development Bank, warned that the US economic downturn would take its toll on emerging Asian economies.
But he stressed that rising inflation in the region is currently more of a threat than worries about a slowdown.
More rate cuts?
Last week, the International Monetary Fund cut its global economic growth forecast from 4.4% to 4.1%, the lowest in five years.
Following aggressive interest rate cuts in the US and the approval of a bill giving Americans tax rebates worth $167bn (£86bn), the focus has been on whether other industrialised nations would implement stimulus plans of their own.
Perceptions have changed as to whether the European Central Bank (ECB) is likely to reduce interest rates from their current level of 4% to help boost growth in the euro zone.
ECB President Jean-Claude Trichet has previously maintained a tough line on controlling inflation in the 15-nation bloc that uses the euro despite clear signs that a frail recovery was running out of steam.
But following an ECB decision to keep rates on hold on Thursday, he appeared to shift focus, stressing the risks to the global economy in his press conference.
This raised hopes that euro zone interest rates could be cut later this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 236123.stm
Published: 2008/02/09 10:44:32 GMT
© BBC MMVIII
The global economy could deteriorate further in the wake of the global credit crunch, a meeting of the G7 group of wealthy nations has warned.
But the group pledged to act individually and together to promote stability and growth.
It also urged banks to disclose all their losses and bolster their balance sheets to help stabilise markets.
The group's statement came after a day-long meeting of ministers and central bank governors in Tokyo.
"In all our economies, to varying degrees, growth is expected to slow somewhat in the short term," it said.
As financial officials, we need to respond resolutely and proactively to the turmoil
Hank Paulson
US Treasury Secretary
The G7 nations said that continuing risks included further problems for the US housing market, tighter credit, high commodity prices and rising inflation.
"Going forward, we will continue to watch developments closely and continue to take appropriate actions, individually and collectively, in order to secure stability and growth in our economies," they said.
They also called on oil producers to increase output and on China to let its currency appreciate faster.
US woes
US Treasury Secretary Hank Paulson said current financial turmoil was "serious and persisting".
"As the financial markets recover from this period of stress, as of course they will, we should expect continued volatility as risk is repriced," he said.
"As financial officials, we need to respond resolutely and proactively to the turmoil."
He did not suggest specific measures for G7 partners to take.
Mr Paulson said he was confident in the long-term health of the US economy and expected it to grow this year, but also said a recent stimulus package had been crucial.
Global trends
The G7 countries include the US, Japan, the UK, Canada, France, Germany and Italy, all of which are experiencing a significant slowdown in growth.
Meanwhile, China, India and other East and South East Asian economies have experienced break-neck growth over the past few years as current account surpluses and foreign exchange reserves have ballooned.
But as the global credit crisis and US housing slump has brought the world's largest economy to its knees, concerns have persisted that these problems would spread to Asia, which is heavily reliant on US imports of its products and foreign investment for growth.
On Friday, Haruhiko Kuroda, the head of the Asian Development Bank, warned that the US economic downturn would take its toll on emerging Asian economies.
But he stressed that rising inflation in the region is currently more of a threat than worries about a slowdown.
More rate cuts?
Last week, the International Monetary Fund cut its global economic growth forecast from 4.4% to 4.1%, the lowest in five years.
Following aggressive interest rate cuts in the US and the approval of a bill giving Americans tax rebates worth $167bn (£86bn), the focus has been on whether other industrialised nations would implement stimulus plans of their own.
Perceptions have changed as to whether the European Central Bank (ECB) is likely to reduce interest rates from their current level of 4% to help boost growth in the euro zone.
ECB President Jean-Claude Trichet has previously maintained a tough line on controlling inflation in the 15-nation bloc that uses the euro despite clear signs that a frail recovery was running out of steam.
But following an ECB decision to keep rates on hold on Thursday, he appeared to shift focus, stressing the risks to the global economy in his press conference.
This raised hopes that euro zone interest rates could be cut later this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 236123.stm
Published: 2008/02/09 10:44:32 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 104
Real top Man Utd in rich league
Manchester United have moved from fourth to second in the list of the world's richest clubs, as Real Madrid stayed top for the third straight year.
Deloitte's Football Money League, which is based on revenues generated during 2006/7, was headed by United for eight years until the Spaniards deposed them.
Chelsea are fourth in Deloitte's table, even though the Blues regularly make huge losses. Arsenal are fifth.
In all, there are seven British clubs in the top 20 positions.
However three of the four clubs that dropped out of the list were also British - Manchester City, Rangers, and West Ham United.
Spanish champions
The list shows that at the upper end, the game's riches continue to be monopolised by the same group of clubs, with only one change in the top ten from the previous season.
That change only came about because Italian giants Juventus played in the second-tier League Serie B during 2006/07, and they were replaced in the Deloitte top ten by Roma.
WORLD'S WEALTHIEST CLUBS BY REVENUE
1) Real Madrid: £236.2m
2) Man Utd: £212.1m
3) Barcelona: £195.3m
4) Chelsea: £190.5m
5) Arsenal: £177.6m
6) AC Milan: £153m
7) Bayern Munich: £150.3m
8) Liverpool: £133.9m
9) Inter Milan: £131.3m
10) AS Roma: £106.1m
Source: Deloitte: 2006/7
Deloitte's figures take into account income from ticket sales, merchandising and broadcasting contracts but do not include transfer revenues and does not calculate profitability.
Between them, the collective revenue of the top 20 clubs - which are all European - grew by 11% to £2.5bn in 2006/07, the highest rate of growth since 2002/03.
Real Madrid retained its crown as the world's wealthiest club, in terms of sales, in a season when it clinched the Spanish championship under Fabio Capello, and with David Beckham in the team.
Its revenues rose to £236.2m from £202m the year before.
'Close the gap'
Manchester United leapfrogged Barcelona and Juventus, moving into second place, in a season when they won the Premier League, reached the Champions League semi-final, and FA Cup final.
Real saw a 20% increase to take their total revenue, though Manchester United's revenue grew even more quickly, up from £167.8m to £212m.
Dan Jones, of Deloitte's sports business group, said: "With the new Premier League television deals now online for the 2007/08 season, Manchester United have the opportunity to significantly close the gap on Real."
"A successful Champions League run may even see them challenge again for the number one position," he added.
Deloitte says the new TV money could help more English clubs into the top 20 in a year's time.
Meanwhile Arsenal, helped by increased revenues at their new Emirates stadium, jumped from ninth place to fifth, while Chelsea's move up to fourth spot means it is the first time one country has three clubs in the top five.
The other British clubs to make it into the list were Liverpool (8), Tottenham Hotspur (11), Newcastle United (14), and Celtic (17).
Ticket increases
Harry Philp, director of sports finance and advisory firm Hermes Sports Partners, said: "The top seven or eight clubs tend to usually be the same, and generally drawn from the big English, Spanish and Italian clubs.
"Real Madrid will have been helped by the very lucrative TV deal that they have, and the fact that their stadium is pretty much sold out for every game.
"Manchester United have been helped by their success on the field but also by ticket price increases, and they have also done a lot of renegotiation of much of its financial arrangements.
"Arsenal have clearly benefited from the move to the Emirates."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 242490.stm
Published: 2008/02/14 00:00:43 GMT
© BBC MMVIII
Manchester United have moved from fourth to second in the list of the world's richest clubs, as Real Madrid stayed top for the third straight year.
Deloitte's Football Money League, which is based on revenues generated during 2006/7, was headed by United for eight years until the Spaniards deposed them.
Chelsea are fourth in Deloitte's table, even though the Blues regularly make huge losses. Arsenal are fifth.
In all, there are seven British clubs in the top 20 positions.
However three of the four clubs that dropped out of the list were also British - Manchester City, Rangers, and West Ham United.
Spanish champions
The list shows that at the upper end, the game's riches continue to be monopolised by the same group of clubs, with only one change in the top ten from the previous season.
That change only came about because Italian giants Juventus played in the second-tier League Serie B during 2006/07, and they were replaced in the Deloitte top ten by Roma.
WORLD'S WEALTHIEST CLUBS BY REVENUE
1) Real Madrid: £236.2m
2) Man Utd: £212.1m
3) Barcelona: £195.3m
4) Chelsea: £190.5m
5) Arsenal: £177.6m
6) AC Milan: £153m
7) Bayern Munich: £150.3m
8) Liverpool: £133.9m
9) Inter Milan: £131.3m
10) AS Roma: £106.1m
Source: Deloitte: 2006/7
Deloitte's figures take into account income from ticket sales, merchandising and broadcasting contracts but do not include transfer revenues and does not calculate profitability.
Between them, the collective revenue of the top 20 clubs - which are all European - grew by 11% to £2.5bn in 2006/07, the highest rate of growth since 2002/03.
Real Madrid retained its crown as the world's wealthiest club, in terms of sales, in a season when it clinched the Spanish championship under Fabio Capello, and with David Beckham in the team.
Its revenues rose to £236.2m from £202m the year before.
'Close the gap'
Manchester United leapfrogged Barcelona and Juventus, moving into second place, in a season when they won the Premier League, reached the Champions League semi-final, and FA Cup final.
Real saw a 20% increase to take their total revenue, though Manchester United's revenue grew even more quickly, up from £167.8m to £212m.
Dan Jones, of Deloitte's sports business group, said: "With the new Premier League television deals now online for the 2007/08 season, Manchester United have the opportunity to significantly close the gap on Real."
"A successful Champions League run may even see them challenge again for the number one position," he added.
Deloitte says the new TV money could help more English clubs into the top 20 in a year's time.
Meanwhile Arsenal, helped by increased revenues at their new Emirates stadium, jumped from ninth place to fifth, while Chelsea's move up to fourth spot means it is the first time one country has three clubs in the top five.
The other British clubs to make it into the list were Liverpool (8), Tottenham Hotspur (11), Newcastle United (14), and Celtic (17).
Ticket increases
Harry Philp, director of sports finance and advisory firm Hermes Sports Partners, said: "The top seven or eight clubs tend to usually be the same, and generally drawn from the big English, Spanish and Italian clubs.
"Real Madrid will have been helped by the very lucrative TV deal that they have, and the fact that their stadium is pretty much sold out for every game.
"Manchester United have been helped by their success on the field but also by ticket price increases, and they have also done a lot of renegotiation of much of its financial arrangements.
"Arsenal have clearly benefited from the move to the Emirates."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 242490.stm
Published: 2008/02/14 00:00:43 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 105
Iron price up 65% for Asian firms
Japanese and South Korean steel mills have agreed to pay Brazilian miner Vale 65% more for iron ore this year.
Japan's Nippon Steel and South Korea's Posco said they would pay Vale $78.90 a tonne from April. It is thought JFE Steel agreed a similar price.
The settlement means iron ore prices will hit a record for the sixth year in a row on continued demand for steel to power China's construction boom.
Some believe miners Rio Tinto and BHP Billiton are also keen to raise prices.
Relief
Since 2000, China has been a huge importer of steel after its domestic mining failed to keep pace with its rush to industrialise.
This phenomenon has supported the price of spot iron ore, which has almost tripled over the past decade.
There have been fears that steel makers profits could be stunted by their inability to pass on all the costs to customers, particularly as shipping costs have risen too.
But shares in Nippon Steel, JFE Holdings, which owns JFE Steel, and Posco all rose on relief that the 2008 price was not greater.
"The market was relieved now that one of the negative factors weighing on the stock prices has been played out," said Takashi Aoki, vice president at the equity investment division of Mizuho Asset Management.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 250118.stm
Published: 2008/02/18 08:50:42 GMT
© BBC MMVIII
Japanese and South Korean steel mills have agreed to pay Brazilian miner Vale 65% more for iron ore this year.
Japan's Nippon Steel and South Korea's Posco said they would pay Vale $78.90 a tonne from April. It is thought JFE Steel agreed a similar price.
The settlement means iron ore prices will hit a record for the sixth year in a row on continued demand for steel to power China's construction boom.
Some believe miners Rio Tinto and BHP Billiton are also keen to raise prices.
Relief
Since 2000, China has been a huge importer of steel after its domestic mining failed to keep pace with its rush to industrialise.
This phenomenon has supported the price of spot iron ore, which has almost tripled over the past decade.
There have been fears that steel makers profits could be stunted by their inability to pass on all the costs to customers, particularly as shipping costs have risen too.
But shares in Nippon Steel, JFE Holdings, which owns JFE Steel, and Posco all rose on relief that the 2008 price was not greater.
"The market was relieved now that one of the negative factors weighing on the stock prices has been played out," said Takashi Aoki, vice president at the equity investment division of Mizuho Asset Management.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 250118.stm
Published: 2008/02/18 08:50:42 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 106
Thirst for Red Bull accelerates
Demand for Red Bull reached a peak last year, with its Austrian owner reporting record sales of the high-energy drink.
An accelerated performance in Africa, South America and Asia helped to lift the firm's sales by 17% to 3bn euros ($4.4bn; £2.3bn).
It said the drink that "gives you wings" sold 3.5 billion cans worldwide, as fans shrugged off concerns about caffeine levels.
Red Bull is a private firm, 49% owned by its founder, Dietrich Mateschitz.
"Productivity and profits also improved in 2007 compared with the already impressive 2006 figures," the company said.
It added that the figures "represent an all-time high in Red Bull's history."
The company has come under fire in the past for being linked with health problems.
But these have never been proved and its popularity has soared with sponsorship of extreme sports and, most notably, Formula One racing teams.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 254850.stm
Published: 2008/02/20 16:07:45 GMT
© BBC MMVIII
Demand for Red Bull reached a peak last year, with its Austrian owner reporting record sales of the high-energy drink.
An accelerated performance in Africa, South America and Asia helped to lift the firm's sales by 17% to 3bn euros ($4.4bn; £2.3bn).
It said the drink that "gives you wings" sold 3.5 billion cans worldwide, as fans shrugged off concerns about caffeine levels.
Red Bull is a private firm, 49% owned by its founder, Dietrich Mateschitz.
"Productivity and profits also improved in 2007 compared with the already impressive 2006 figures," the company said.
It added that the figures "represent an all-time high in Red Bull's history."
The company has come under fire in the past for being linked with health problems.
But these have never been proved and its popularity has soared with sponsorship of extreme sports and, most notably, Formula One racing teams.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 254850.stm
Published: 2008/02/20 16:07:45 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 107
ข่าววิชาการ-ความรู้รอบเตียง ควรใช้วิจารณญาน
อายุต่ำกว่า๑๘ปี ไม่ควรอ่าน
อายุถึงแล้ว ควรอ่านหลายเที่ยว เพื่อความเข้าใจ
Female G spot 'can be detected'
The mysterious G spot - supposedly a route to female sexual satisfaction - can be located with ultrasound, claim Italian scientists.
Some women say stimulating a certain part of the vagina triggers powerful orgasms, but medicine has not been able to pin down the exact location.
Researchers told New Scientist magazine they found an area of thicker tissue among the women reporting orgasms.
But specialists warned there could be other reasons for this difference.
For the first time, it is possible to determine by a simple, rapid and inexpensive method if a woman has got a G spot or not
Dr Emmanuele Jannini
University of L'Aquila
The existence of the G spot has remained controversial since the 1980s, when the term was coined as a way to explain why some women were able to achieve orgasm through vaginal stimulation, while others were not.
Some specialists claim that the term has led to over-anxiety among women who cannot reach satisfaction this way, and their partners.
Love muscle
The latest research, published in the Journal of Sexual Medicine, was carried out the Dr Emmanuele Jannini at the University of L'Aquila, and involved just 20 women.
Ultrasound was used to measure the size and shape of the tissue beyond the "front" wall of the vagina, often suggested as the location of the G spot.
In the nine women who reported being able to achieve vaginal orgasm, the tissues between the vagina and the urethra - which carries urine out of the body - were on average thicker than in the 11 women who could not reach orgasm this way.
It's telling people that there is a single, best way to have sex, which isn't the right thing to do
Dr Petra Boynton
University College London
Dr Jannini said: "For the first time, it is possible to determine by a simple, rapid and inexpensive method if a woman has got a G spot or not."
However, Dr Tim Spector, from St Thomas' Hospital in London, told New Scientist that the thicker tissue might actually be part of the clitoris - another extremely sensitive area.
Another suggestion was that, rather than being the cause of more orgasms, having these frequently might actually lead to better-developed musculature in this area.
Dr Petra Boynton, a sexual psychologist at University College London, said that an entire industry had grown up around the idea of a G spot, and it was unhelpful to label women unable to find theirs as "dysfunctional".
She said: "We're all different. Some women will have certain area within the vagina which will be very sensitive, and some won't - but they won't necessarily be in the area called the G spot.
"If a woman spends all her time worrying about whether she is normal, or has a G spot or not, she will focus on just one area, and ignore everything else.
"It's telling people that there is a single, best way to have sex, which isn't the right thing to do."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/h ... 254523.stm
Published: 2008/02/20 18:05:32 GMT
© BBC MMVIII
อายุต่ำกว่า๑๘ปี ไม่ควรอ่าน
อายุถึงแล้ว ควรอ่านหลายเที่ยว เพื่อความเข้าใจ
Female G spot 'can be detected'
The mysterious G spot - supposedly a route to female sexual satisfaction - can be located with ultrasound, claim Italian scientists.
Some women say stimulating a certain part of the vagina triggers powerful orgasms, but medicine has not been able to pin down the exact location.
Researchers told New Scientist magazine they found an area of thicker tissue among the women reporting orgasms.
But specialists warned there could be other reasons for this difference.
For the first time, it is possible to determine by a simple, rapid and inexpensive method if a woman has got a G spot or not
Dr Emmanuele Jannini
University of L'Aquila
The existence of the G spot has remained controversial since the 1980s, when the term was coined as a way to explain why some women were able to achieve orgasm through vaginal stimulation, while others were not.
Some specialists claim that the term has led to over-anxiety among women who cannot reach satisfaction this way, and their partners.
Love muscle
The latest research, published in the Journal of Sexual Medicine, was carried out the Dr Emmanuele Jannini at the University of L'Aquila, and involved just 20 women.
Ultrasound was used to measure the size and shape of the tissue beyond the "front" wall of the vagina, often suggested as the location of the G spot.
In the nine women who reported being able to achieve vaginal orgasm, the tissues between the vagina and the urethra - which carries urine out of the body - were on average thicker than in the 11 women who could not reach orgasm this way.
It's telling people that there is a single, best way to have sex, which isn't the right thing to do
Dr Petra Boynton
University College London
Dr Jannini said: "For the first time, it is possible to determine by a simple, rapid and inexpensive method if a woman has got a G spot or not."
However, Dr Tim Spector, from St Thomas' Hospital in London, told New Scientist that the thicker tissue might actually be part of the clitoris - another extremely sensitive area.
Another suggestion was that, rather than being the cause of more orgasms, having these frequently might actually lead to better-developed musculature in this area.
Dr Petra Boynton, a sexual psychologist at University College London, said that an entire industry had grown up around the idea of a G spot, and it was unhelpful to label women unable to find theirs as "dysfunctional".
She said: "We're all different. Some women will have certain area within the vagina which will be very sensitive, and some won't - but they won't necessarily be in the area called the G spot.
"If a woman spends all her time worrying about whether she is normal, or has a G spot or not, she will focus on just one area, and ignore everything else.
"It's telling people that there is a single, best way to have sex, which isn't the right thing to do."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/h ... 254523.stm
Published: 2008/02/20 18:05:32 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 108
Housewife 'would be paid pound30,000'
Housewives would be paid more than the average worker if they received the going rate for their household chores, a survey has suggested.
A poll of 4,000 housewives for networking website alljoinon.com suggested that the average mum worked for nearly nine hours a day every day.
The website said a housewife would earn almost £30,000 a year if she was employed to do all the same errands.
The average annual UK wage is £23,700, according to official figures.
Some 71% of those polled agreed that successfully running the family home was a full-time job.
"The survey clearly demonstrates that not only do housewives deserve a wage for their efforts, they also need a break from the daily grind," said Carolyn Morris, spokeswoman for alljoinon.com.
The chores are yours
An average mum would spend 273 minutes every day looking after the children, according to the poll. Based on an hourly rate of £8, a nanny would earn £36.80 a day for the same job.
Cleaning and tidying for 71 minutes would net a cleaner £7.10 a day. For more than an hour of cooking a head chef would get £17.30.
Fourteen minutes making the beds is worth £1.29 for a chambermaid, and a kitchen assistant would be paid £2.57 for a housewife's typical 28 minutes of washing up.
The poll said the average mum trawled the family finances for 39 minutes, which would cost £12.50 if an accountant did it.
A taxi driver would earn £2.53 for the 23 minutes of ferrying children around, and a mystery shopper £2.10 for the 18 minutes a day of grocery shopping.
Single women 'do less'
Labour economist Helene Couprie, of Toulouse University, concluded that on average, an employed woman does 15 hours a week of housework when she lives with her employed partner, up from 10 hours when single.
Men, on the other hand, see the hours they commit to housework decline once they begin living as a couple, she found.
In the year to April 2007, average earnings of full-time male employees were £498 per week, while for women it was £394, according to the Office of National Statistics.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 252504.stm
Published: 2008/02/19 12:19:30 GMT
© BBC MMVIII
Housewives would be paid more than the average worker if they received the going rate for their household chores, a survey has suggested.
A poll of 4,000 housewives for networking website alljoinon.com suggested that the average mum worked for nearly nine hours a day every day.
The website said a housewife would earn almost £30,000 a year if she was employed to do all the same errands.
The average annual UK wage is £23,700, according to official figures.
Some 71% of those polled agreed that successfully running the family home was a full-time job.
"The survey clearly demonstrates that not only do housewives deserve a wage for their efforts, they also need a break from the daily grind," said Carolyn Morris, spokeswoman for alljoinon.com.
The chores are yours
An average mum would spend 273 minutes every day looking after the children, according to the poll. Based on an hourly rate of £8, a nanny would earn £36.80 a day for the same job.
Cleaning and tidying for 71 minutes would net a cleaner £7.10 a day. For more than an hour of cooking a head chef would get £17.30.
Fourteen minutes making the beds is worth £1.29 for a chambermaid, and a kitchen assistant would be paid £2.57 for a housewife's typical 28 minutes of washing up.
The poll said the average mum trawled the family finances for 39 minutes, which would cost £12.50 if an accountant did it.
A taxi driver would earn £2.53 for the 23 minutes of ferrying children around, and a mystery shopper £2.10 for the 18 minutes a day of grocery shopping.
Single women 'do less'
Last year, a study said that employed women living with their employed partner spent more time doing housework than single women.HAVE YOUR SAY Would you really want to put a price on your wife? I'd rather pitch in and do my fair share. James, Belfast
Labour economist Helene Couprie, of Toulouse University, concluded that on average, an employed woman does 15 hours a week of housework when she lives with her employed partner, up from 10 hours when single.
Men, on the other hand, see the hours they commit to housework decline once they begin living as a couple, she found.
In the year to April 2007, average earnings of full-time male employees were £498 per week, while for women it was £394, according to the Office of National Statistics.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 252504.stm
Published: 2008/02/19 12:19:30 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 109
The changing face of China's art scene
By Michael Bristow
BBC News, Beijing
At Beijing's premier art district - known as 798 - workmen carrying tools are as busy as artists wielding brushes.
They are building shops, cafes and, of course, galleries at a former factory complex that has come to symbolise China's contemporary art scene.
Modern, Chinese art burst onto the international scene several years ago and its worldwide popularity is reflected in the bustle of 798.
But it is not just a story about art. It is also a story about how artists, gallery owners and auction houses are cashing in on the boom.
Profit motive
Sotheby's was the first auction house to hold a sale solely dedicated to contemporary Chinese art, in Hong Kong in 2004.
Sales figures over the last few years reveal just how hot the market has become.
Sotheby's sold just $2.9m (£1.5) worth of modern, Chinese art through its Hong Kong office in 2004, but that figure rose to $69.9m last year.
And the profile of those buying the art has changed: in 2004 it was 80% foreigners, but now, as the Chinese economy booms, 80% are from China.
Evelyn Lin, head of contemporary Chinese art at Sotheby's in Hong Kong, said prices are still relatively affordable.
That has attracted investors; people who are more interested in making a quick profit than in buying a piece of artwork.
But Ms Lin said investing in art was a dangerous game to play, and has led many people to pay over the odds for mediocre work.
"We do not recommend people buy pictures for investment," she said. "It's not like purchasing stock where you can research a company's background."
Australian Brian Wallace, who set up the first contemporary art gallery in Beijing in 1991, agrees the profit motive is helping drive the market.
"(Buying contemporary Chinese art) could be about pure appreciation, but it's also very much about making money," said the man who runs Red Gate Gallery.
Mr Wallace, whose wares are displayed in one of Beijing's last remaining ancient watchtowers, also criticised some established Chinese artists.
"I think some of them should step back and think about what they are doing, rather than churning out things for the market," he said.
Record sale
But recent prices at auctions across the world show just how tempting it must be for these established artists to cash in on their fame.
A painting entitled Execution by Yue Minjun was sold by Sotheby's at a London auction last year for nearly £3m ($5.9m).
The picture - which features four laughing men dressed in only underpants - was supposedly inspired by the Tiananmen killings in 1989.
At the time, it was the most expensive piece of contemporary Chinese art sold at a sale.
Other, less established figures have also associated themselves with this booming market.
New York City artist Eric Lee, whose parents were both born in China, decided to work in Beijing for part of the year to give his career a boost.
"It was a strategic move because right now the contemporary Chinese art scene is getting a lot of attention," the 37-year-old told the BBC.
"Some of my friends joked that I'd have more New York galleries knocking on my door in Beijing than in New York."
And that is just how it turned out. Mr Lee said he noticed interest in his work increase when he added his Beijing address to his business card.
Social changes
Despite the hype, China appears to have a number of highly talented artists at present.
Since the country embarked on an economic reform process in 1978, society has undergone fundamental changes that have reshaped society.
These changes provide plenty of inspiration for artists such as 27-year-old Chen Jie, one of a new generation hoping to make their mark.
Mr Chen sold his first painting to a South Korean collector three years ago and now makes a reasonable living from his art.
One of his pictures, entitled Fresh Goods, is in on sale for 6,000 yuan ($839, £428).
As he showed off some of his latest work, Mr Chen said it was art, not money, that motivated him.
That might be so, but many in the business - like the gallery that markets his work - are also in it for the money.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 263125.stm
Published: 2008/02/26 02:45:49 GMT
© BBC MMVIII
By Michael Bristow
BBC News, Beijing
At Beijing's premier art district - known as 798 - workmen carrying tools are as busy as artists wielding brushes.
They are building shops, cafes and, of course, galleries at a former factory complex that has come to symbolise China's contemporary art scene.
Modern, Chinese art burst onto the international scene several years ago and its worldwide popularity is reflected in the bustle of 798.
But it is not just a story about art. It is also a story about how artists, gallery owners and auction houses are cashing in on the boom.
Profit motive
Sotheby's was the first auction house to hold a sale solely dedicated to contemporary Chinese art, in Hong Kong in 2004.
Sales figures over the last few years reveal just how hot the market has become.
Sotheby's sold just $2.9m (£1.5) worth of modern, Chinese art through its Hong Kong office in 2004, but that figure rose to $69.9m last year.
And the profile of those buying the art has changed: in 2004 it was 80% foreigners, but now, as the Chinese economy booms, 80% are from China.
Evelyn Lin, head of contemporary Chinese art at Sotheby's in Hong Kong, said prices are still relatively affordable.
Buying contemporary Chinese art could be about pure appreciation, but it's also very much about making money
Brian Wallace, Red Gate Gallery
That has attracted investors; people who are more interested in making a quick profit than in buying a piece of artwork.
But Ms Lin said investing in art was a dangerous game to play, and has led many people to pay over the odds for mediocre work.
"We do not recommend people buy pictures for investment," she said. "It's not like purchasing stock where you can research a company's background."
Australian Brian Wallace, who set up the first contemporary art gallery in Beijing in 1991, agrees the profit motive is helping drive the market.
"(Buying contemporary Chinese art) could be about pure appreciation, but it's also very much about making money," said the man who runs Red Gate Gallery.
Mr Wallace, whose wares are displayed in one of Beijing's last remaining ancient watchtowers, also criticised some established Chinese artists.
"I think some of them should step back and think about what they are doing, rather than churning out things for the market," he said.
Record sale
But recent prices at auctions across the world show just how tempting it must be for these established artists to cash in on their fame.
A painting entitled Execution by Yue Minjun was sold by Sotheby's at a London auction last year for nearly £3m ($5.9m).
The picture - which features four laughing men dressed in only underpants - was supposedly inspired by the Tiananmen killings in 1989.
At the time, it was the most expensive piece of contemporary Chinese art sold at a sale.
Other, less established figures have also associated themselves with this booming market.
New York City artist Eric Lee, whose parents were both born in China, decided to work in Beijing for part of the year to give his career a boost.
"It was a strategic move because right now the contemporary Chinese art scene is getting a lot of attention," the 37-year-old told the BBC.
"Some of my friends joked that I'd have more New York galleries knocking on my door in Beijing than in New York."
And that is just how it turned out. Mr Lee said he noticed interest in his work increase when he added his Beijing address to his business card.
Social changes
Despite the hype, China appears to have a number of highly talented artists at present.
Since the country embarked on an economic reform process in 1978, society has undergone fundamental changes that have reshaped society.
These changes provide plenty of inspiration for artists such as 27-year-old Chen Jie, one of a new generation hoping to make their mark.
Mr Chen sold his first painting to a South Korean collector three years ago and now makes a reasonable living from his art.
One of his pictures, entitled Fresh Goods, is in on sale for 6,000 yuan ($839, £428).
As he showed off some of his latest work, Mr Chen said it was art, not money, that motivated him.
That might be so, but many in the business - like the gallery that markets his work - are also in it for the money.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 263125.stm
Published: 2008/02/26 02:45:49 GMT
© BBC MMVIII
ว่าแล้วก็ชวนไปดูภาพcollectionของเศรษฐีเมืองไทยที่กำลัง exhibitionที่หอศิลป์สิริกิติ์
ได้แก่ของ ดร.อำนวย วีรวรรณ นายชัย โสภณพนิช ดร.ก้องเกียรติ โอภาสวงการ นายอภิชาต รมยะรูป นายวิฑิต ลีนุตพงษ์ นายพงศา อธิรกุล นายแพทย์สมรัช หิรัญยะวะสิต นางสาวิตรี รมยะรูป และนางสุชาดา ลีสวัสดิ์ตระกูล
รูปต่างๆ ของจิตรกรชั้นครูที่ได้รับการยกย่องเชิดชูเกียรติทั้งที่มีชีวิตอยู่และล่วงลับไปแล้วรวมกว่า 30 ท่าน อาทิ หม่อมหลวงปุ่ม มาลากุล เฟื้อ หริพิทักษ์ ประกิต บัวบุศย์ เฉลิม นาคีรักษ์ ทวี นันทขว้าง สวัสดิ์ ตันติสุข ชลูด นิ่มเสมอ ถวัลย์ ดัชนี จักรพันธุ์ โปษยกฤต อวบ สาณะเสน ประเทือง เอมเจริญ ปัญญา วิจินธนสาร เฉลิมชัย โฆษิตพิพัฒน์ และอีกหลายท่าน
http://www.queengallery.org/en/index.php
ค่าผ่านประตู๒๐บาท พระเจ้าช่วย :shock: :shock:
มีร้านกาแฟที่วิวดีที่สุดในโลก เพราะตรงข้ามกับ ศาลาเจษฎาบดินทร์ โลหะปราสาท ป้อมมหากาฬ ภูเขาทอง ถนนราชดำเนิน
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 110
India cancels small farmers' debt
The Indian government is to cancel the entire debt of the country's small farmers in a giant scheme that will cost 600bn rupees ($15bn; £7.6bn).
The move is a centrepiece of India's latest budget, with the government also increasing education spending by 20% and health funding by 15%.
Widely seen as a populist budget ahead of elections due by May 2009, Delhi has also pledged to control food prices.
The government also said it would keep up work to control wider inflation.
The farm loan cancellations will be offered to all farmers with less than two hectares of land.
Reaction from farmers groups has so far been mixed, with some complaining that the land-size criteria is too strict, and that those with larger fields will unfairly miss out.
Mohan Manidwar of Farmers Agitation Group, which highlights the large number of impoverished farmers committing suicide, said most farmers in the Vidarbha region of central Indian would miss out.
'Price pressure'
Unveiling the latest budget, Finance Minister Palaniappan Chidambaram said India's annual economic growth was now running at 8.7%.
This figure, which covers the current financial year to 31 March 2008, is a slight slowdown from 9.6% in 2006/07 - India's fastest economic expansion in 18 years.
Over the past year India has increased interest rates and reduced the supply of the rupee to cool this breakneck growth.
"There is pressure on domestic prices, especially the prices of food articles," Mr Chidambaram told the Indian parliament.
"Management of the supply side of food articles will be the most crucial task in the ensuing year."
"Keeping inflation under check is one of the cornerstones of our policy."
Mr Chidambaram added that the government was determined to see India become self-sufficient in food grains.
Mr Chidambaram also announced higher spending on rural infrastructure and highways.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 270361.stm
Published: 2008/02/29 08:50:44 GMT
© BBC MMVIII
The Indian government is to cancel the entire debt of the country's small farmers in a giant scheme that will cost 600bn rupees ($15bn; £7.6bn).
The move is a centrepiece of India's latest budget, with the government also increasing education spending by 20% and health funding by 15%.
Widely seen as a populist budget ahead of elections due by May 2009, Delhi has also pledged to control food prices.
The government also said it would keep up work to control wider inflation.
The farm loan cancellations will be offered to all farmers with less than two hectares of land.
Reaction from farmers groups has so far been mixed, with some complaining that the land-size criteria is too strict, and that those with larger fields will unfairly miss out.
Mohan Manidwar of Farmers Agitation Group, which highlights the large number of impoverished farmers committing suicide, said most farmers in the Vidarbha region of central Indian would miss out.
'Price pressure'
Unveiling the latest budget, Finance Minister Palaniappan Chidambaram said India's annual economic growth was now running at 8.7%.
This figure, which covers the current financial year to 31 March 2008, is a slight slowdown from 9.6% in 2006/07 - India's fastest economic expansion in 18 years.
Over the past year India has increased interest rates and reduced the supply of the rupee to cool this breakneck growth.
"There is pressure on domestic prices, especially the prices of food articles," Mr Chidambaram told the Indian parliament.
"Management of the supply side of food articles will be the most crucial task in the ensuing year."
"Keeping inflation under check is one of the cornerstones of our policy."
Mr Chidambaram added that the government was determined to see India become self-sufficient in food grains.
Mr Chidambaram also announced higher spending on rural infrastructure and highways.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 270361.stm
Published: 2008/02/29 08:50:44 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 111
Waterfront reflections on India
By Nils Blythe
Business correspondent, BBC News, Mumbai
A short journey along Mumbai's waterfront can tell you a lot about modern India.
In the harbour opposite the famous Taj Palace Hotel, a boat show is getting under way.
Lined up along the floating walkways are vessels ranging from relatively modest speed boats to luxury motor yachts costing over $2m (£1m).
Moored further offshore is a so-called 300-ft "super-yacht" belonging to one of India's billionaires.
This is a country which has about 50 families reckoned to be worth more than $1bn.
According to Malav Schroff, founder of the Mumbai boat show, owning a big boat is the "new craze" for the super-rich in India.
And many of the world's leading boatmakers agree with him, sending more vessels and larger sales teams to the show than to last year's inaugural event.
Brands including Princess, Azimut and Larson all have large vessels on show.
It is not just the billionaires who are being targeted. India also has a rapidly rising number of multi-millionaires who have made fortunes in an economy which has been growing at more than 8% per year.
Vishal Chaudry, director of sales in India for the British-based Princess Yachts, candidly admits that some boat buyers in India are not keen sailors.
Many yachts are primarily used for entertaining or commuting from cities such as Mumbai to nearby beach houses.
He says that a motor yacht is becoming an increasingly important status symbol for rich Indians.
But if you take a 10-minute journey from the Taj hotel and the boat show, you can see a very different kind of waterfront.
This is Colaba, named after the Koli fisherfolk who originally inhabited the area. And there are fishermen here still.
The fishing boats are drawn up along a rubbish-strewn beach.
Behind the beach is a collection of small houses and shacks where the fishing families live.
And here, the preoccupations are very different to those of the boat show customers.
The fishermen gather round to complain that diesel is becoming so expensive that it is becoming very difficult to run their boats.
And among the tiny shops, the women are angry about the rising costs of basic foods.
Inflation in food prices is running at an annual rate of about 10%.
And as one woman explained, "When prices go up, we have to eat less."
It is a stark reminder that for all its booming economy, India has more than 800 million people living on less than $2 a day.
And for those on low incomes, even small prices in the cost of food make a huge difference.
With wholesale prices on world commodity markets setting new records, the cost of living - or surviving - for India's poor is likely to rise further.
'Ghettoes of luxury'
This is leading to increased social tensions, according to Naresh Fernandes, the editor of Mumbai's Time Out magazine, which investigates the big issues facing the city as well as providing a guide to events.
He argues that Mumbai has developed "ghettoes of luxury" in which the wealthy spend their time.
And that rather than being discreet about their wealth, India's super-rich are ever more eager to show it off.
That is why the world's luxury boatmakers have turned up in force for the Mumbai boat show.
But they admit there is one - typically Indian - problem. And that is infrastructure.
Luxury yachts need big purpose-built marinas.
No millionaire wants to moor his boat next to the rubbish-strewn fishermen's beach of Colaba, for example.
The boat makers say that there are ambitious plans to build marinas around India's coastline.
And these will be seen by some as a way of helping the wealth of the super-rich to trickle out into India's economy.
Others will see them as yet more "ghettoes of luxury".
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 270934.stm
Published: 2008/03/01 00:02:31 GMT
© BBC MMVIII
By Nils Blythe
Business correspondent, BBC News, Mumbai
A short journey along Mumbai's waterfront can tell you a lot about modern India.
In the harbour opposite the famous Taj Palace Hotel, a boat show is getting under way.
Lined up along the floating walkways are vessels ranging from relatively modest speed boats to luxury motor yachts costing over $2m (£1m).
Moored further offshore is a so-called 300-ft "super-yacht" belonging to one of India's billionaires.
This is a country which has about 50 families reckoned to be worth more than $1bn.
According to Malav Schroff, founder of the Mumbai boat show, owning a big boat is the "new craze" for the super-rich in India.
And many of the world's leading boatmakers agree with him, sending more vessels and larger sales teams to the show than to last year's inaugural event.
Brands including Princess, Azimut and Larson all have large vessels on show.
It is not just the billionaires who are being targeted. India also has a rapidly rising number of multi-millionaires who have made fortunes in an economy which has been growing at more than 8% per year.
Vishal Chaudry, director of sales in India for the British-based Princess Yachts, candidly admits that some boat buyers in India are not keen sailors.
Many yachts are primarily used for entertaining or commuting from cities such as Mumbai to nearby beach houses.
He says that a motor yacht is becoming an increasingly important status symbol for rich Indians.
But if you take a 10-minute journey from the Taj hotel and the boat show, you can see a very different kind of waterfront.
This is Colaba, named after the Koli fisherfolk who originally inhabited the area. And there are fishermen here still.
The fishing boats are drawn up along a rubbish-strewn beach.
Behind the beach is a collection of small houses and shacks where the fishing families live.
And here, the preoccupations are very different to those of the boat show customers.
The fishermen gather round to complain that diesel is becoming so expensive that it is becoming very difficult to run their boats.
And among the tiny shops, the women are angry about the rising costs of basic foods.
Inflation in food prices is running at an annual rate of about 10%.
And as one woman explained, "When prices go up, we have to eat less."
It is a stark reminder that for all its booming economy, India has more than 800 million people living on less than $2 a day.
And for those on low incomes, even small prices in the cost of food make a huge difference.
With wholesale prices on world commodity markets setting new records, the cost of living - or surviving - for India's poor is likely to rise further.
'Ghettoes of luxury'
This is leading to increased social tensions, according to Naresh Fernandes, the editor of Mumbai's Time Out magazine, which investigates the big issues facing the city as well as providing a guide to events.
He argues that Mumbai has developed "ghettoes of luxury" in which the wealthy spend their time.
And that rather than being discreet about their wealth, India's super-rich are ever more eager to show it off.
That is why the world's luxury boatmakers have turned up in force for the Mumbai boat show.
But they admit there is one - typically Indian - problem. And that is infrastructure.
Luxury yachts need big purpose-built marinas.
No millionaire wants to moor his boat next to the rubbish-strewn fishermen's beach of Colaba, for example.
The boat makers say that there are ambitious plans to build marinas around India's coastline.
And these will be seen by some as a way of helping the wealth of the super-rich to trickle out into India's economy.
Others will see them as yet more "ghettoes of luxury".
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 270934.stm
Published: 2008/03/01 00:02:31 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 112
Buffett 'becomes world's richest'
US investment guru Warren Buffett has ousted his friend and occasional bridge partner Bill Gates as the world's richest man, Forbes magazine says.
The Microsoft co-founder had topped the Forbes business magazine's rich-list for the past 13 years.
Mr Buffett's wealth increased by $10bn (£5bn) last year to $62bn.
Mr Gates's fortune climbed by $2bn during the same period, dragging him down to third on the list with a fortune of $58bn.
He was narrowly pipped into second place by the Mexican communications magnate Carlos Slim Helu, whose $60bn net worth has doubled in the past two years, Forbes reports.
Facebook feature
A record 1,125 individuals with a combined net worth of $4.4 trillion made it into Forbes' 2008 list of billionaires.
"Never before in human history have so many people in so many parts of the world advanced so quickly economically as has happened in recent years."
Two-thirds of those on the list are classified as self-made billionaires, and 50 of them are under the age of 40.
Mark Zuckerberg, 23, the founder of the social networking site Facebook, joins the list as the world's youngest billionaire.
His $1.5bn fortune makes him the world's 785th richest person, Forbes reports.
Patrice Motsepe joins the list as South Africa's first black billionaire with a net worth of $2.4bn.
The world's richest woman is the French L'Oreal chief, Liliane Bettencourt, 17th on the Forbes list with a net wealth of $22.9bn.
Other inclusions in the ultra-rich list include US chat-show host Oprah Winfrey, ($2.5bn), property mogul Donald Trump ($3bn), and Harry Potter author JK Rowling ($1bn).
Biker to billionaire
Nicknamed the "sage of Omaha" because of his phenomenal investment success, Mr Buffett, 77, has stakes in a range of companies, including Coca-Cola, Proctor & Gamble and Tesco.
Forbes says he filed his first tax return at the age of 13, claiming a $35 tax deduction for his bicycle.
The company's stock price surged to a record $150,000 a share in December, just before Forbes formulated its 2008 ultra-rich list.
Two years ago, Mr Buffett pledged most of his Berkshire shares to the Bill & Melinda Gates Foundation.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 280569.stm
Published: 2008/03/06 04:15:05 GMT
© BBC MMVIII
US investment guru Warren Buffett has ousted his friend and occasional bridge partner Bill Gates as the world's richest man, Forbes magazine says.
The Microsoft co-founder had topped the Forbes business magazine's rich-list for the past 13 years.
Mr Buffett's wealth increased by $10bn (£5bn) last year to $62bn.
Mr Gates's fortune climbed by $2bn during the same period, dragging him down to third on the list with a fortune of $58bn.
He was narrowly pipped into second place by the Mexican communications magnate Carlos Slim Helu, whose $60bn net worth has doubled in the past two years, Forbes reports.
Facebook feature
A record 1,125 individuals with a combined net worth of $4.4 trillion made it into Forbes' 2008 list of billionaires.
"The reason for this explosion in wealth is that we're in the midst of a phenomenal global boom," said Steve Forbes, chief executive of Forbes magazine."Never before in human history have so many people in so many parts of the world advanced so quickly economically "
Steve Forbes
CEO, Forbes magazine
"Never before in human history have so many people in so many parts of the world advanced so quickly economically as has happened in recent years."
Two-thirds of those on the list are classified as self-made billionaires, and 50 of them are under the age of 40.
Mark Zuckerberg, 23, the founder of the social networking site Facebook, joins the list as the world's youngest billionaire.
His $1.5bn fortune makes him the world's 785th richest person, Forbes reports.
Patrice Motsepe joins the list as South Africa's first black billionaire with a net worth of $2.4bn.
The world's richest woman is the French L'Oreal chief, Liliane Bettencourt, 17th on the Forbes list with a net wealth of $22.9bn.
Other inclusions in the ultra-rich list include US chat-show host Oprah Winfrey, ($2.5bn), property mogul Donald Trump ($3bn), and Harry Potter author JK Rowling ($1bn).
Biker to billionaire
Nicknamed the "sage of Omaha" because of his phenomenal investment success, Mr Buffett, 77, has stakes in a range of companies, including Coca-Cola, Proctor & Gamble and Tesco.
Forbes says he filed his first tax return at the age of 13, claiming a $35 tax deduction for his bicycle.
After studying economics at New York's Columbia Business School under investment guru Benjamin Graham, he began purchasing shares in textile firm Berkshire Hathaway in 1962 before buying a controlling stake in 1965.FORBES TOP 10
Warren Buffett (US): $62bn
Carlos Slim (Mexico): $60bn
Bill Gates (US): $58bn
Lakshmi Mittal (India): $45bn
Mukesh Ambani (India): $43bn
Anil Ambani (India): $42bn
Ingvar Kamprad (Sweden): $31bn
KP Singh (India): $30bn
Oleg Deripaska (Russia): $28bn
Karl Albrecht (Germany): $27bn
The company's stock price surged to a record $150,000 a share in December, just before Forbes formulated its 2008 ultra-rich list.
Two years ago, Mr Buffett pledged most of his Berkshire shares to the Bill & Melinda Gates Foundation.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 280569.stm
Published: 2008/03/06 04:15:05 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 113
Major boardroom shake-up at M&S
Marks & Spencer has announced its chief executive, Sir Stuart Rose, will stay with the company for an extra two years, in a major management revamp.
Sir Stuart will stay with the firm until 2011. His original commitment was to stay until 2009.
The company also announced that Sir Stuart will be made executive chairman from 1 June, when the current chairman, Lord Burns, departs.
The company is also expanding the role of finance director, Ian Dyson.
In addition he will become director of operations with responsibility for the company's stores.
'Excellent chairman'
The extension of Sir Stuart's leadership at M&S gives the company stability during a tough time for retailers.
"In taking on the role of executive chairman, my task will be to guide the business through the next stage of growth "
Sir Stuart Rose
"There was no obvious successor," said Nick Bubb, an analyst at Pali International.
"This allows Stuart to work through the current downturn - I don't suppose he'd want to leave on a low note."
It is unusual for a firm of Marks & Spencer's size to combine the roles of chairman and executive.
But Sir Stuart has been credited with turning around the company's fortunes when he joined in 2004.
Sir Stuart Rose said: "Terry has been an excellent chairman and we are very grateful to him.
"In taking on the role of executive chairman, my task will be to guide the business through the next stage of growth."
Tough times
In January M&S reported its worst quarter in more than two years.
UK like-for-like sales fell 2.2% in the last three months of 2007.
Sales of clothes and homeware declined 3.2%, while food sales dropped 1.5%.
Like other retailers M&S has been struggling to maintain profit growth as prices for clothes and home products has been falling.
In January Sir Stuart said that the UK High Street had "definitely slowed up" and conditions in the clothing market were tougher than they had been for 10 years.
In other top level changes, Kate Bostock and Steven Esom were promoted to the board.
Ms Bostock takes responsibility for clothing, except for the "per una" range, and Mr Esom remains in charge of food.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 287260.stm
Published: 2008/03/10 12:09:14 GMT
© BBC MMVIII
Marks & Spencer has announced its chief executive, Sir Stuart Rose, will stay with the company for an extra two years, in a major management revamp.
Sir Stuart will stay with the firm until 2011. His original commitment was to stay until 2009.
The company also announced that Sir Stuart will be made executive chairman from 1 June, when the current chairman, Lord Burns, departs.
The company is also expanding the role of finance director, Ian Dyson.
In addition he will become director of operations with responsibility for the company's stores.
'Excellent chairman'
The extension of Sir Stuart's leadership at M&S gives the company stability during a tough time for retailers.
"In taking on the role of executive chairman, my task will be to guide the business through the next stage of growth "
Sir Stuart Rose
"There was no obvious successor," said Nick Bubb, an analyst at Pali International.
"This allows Stuart to work through the current downturn - I don't suppose he'd want to leave on a low note."
It is unusual for a firm of Marks & Spencer's size to combine the roles of chairman and executive.
But Sir Stuart has been credited with turning around the company's fortunes when he joined in 2004.
Sir Stuart Rose said: "Terry has been an excellent chairman and we are very grateful to him.
"In taking on the role of executive chairman, my task will be to guide the business through the next stage of growth."
Tough times
In January M&S reported its worst quarter in more than two years.
UK like-for-like sales fell 2.2% in the last three months of 2007.
Sales of clothes and homeware declined 3.2%, while food sales dropped 1.5%.
Like other retailers M&S has been struggling to maintain profit growth as prices for clothes and home products has been falling.
In January Sir Stuart said that the UK High Street had "definitely slowed up" and conditions in the clothing market were tougher than they had been for 10 years.
In other top level changes, Kate Bostock and Steven Esom were promoted to the board.
Ms Bostock takes responsibility for clothing, except for the "per una" range, and Mr Esom remains in charge of food.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 287260.stm
Published: 2008/03/10 12:09:14 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 114
Home speculators strike gold in California
By Rajesh Mirchandani
BBC News, Los Angeles, California
In a large, featureless convention centre 40 miles east of Los Angeles, more than 1,000 people have gathered early on a Sunday morning.
From the stage, they are addressed in earnest by a man in tuxedo and bow tie, and they can watch the proceedings on giant video screens on either side of him.
He is preaching property, and although this auctioneer's high-speed patter sounds more like a cattle auction, here they are bidding for homes.
More than 100 houses are up for sale here and every two to three minutes a property goes under the hammer.
Similar auctions of repossessed houses are taking place nearly every weekend in California, where banks are cutting their losses from millions of dollars of bad debt.
Care required
There are bargains to be had. One man says he paid $375,000 for a house valued at $616,000.
Lot 132 was a five-bedroom family home with a pool and three-car garage on La Salle Circle, Corona, a pleasant middle-class suburban community east of Los Angeles.
It was expected to fetch some $400,000. In the end Cornelius Foster and Debra Moore paid $500,000 for it; still less than the $700,000 it was originally valued at.
"We're very excited," Cornelius says. "It's got a pool and we're looking forward to getting in and fixing it up.
"I'm smiling today."
Yet they are also aware of the house's history.
"We feel bad for the people that were there before," Ms Moore says.
It was a reminder of how, behind many a good deal, there often lies a tale of personal distress.
In one house on La Salle Circle, two days before its auction, an estate agent's sign outside proudly proclaims "selling the American Dream since 1969".
But, as estate agent Julie Bruckner tours the property with its chandelier in the living room and a huge walk-in closet upstairs, she is well aware of a poignant irony.
"There are so many in this area that are vacant.
"This home definitely needs some love, and a family that can give it the TLC [tender loving care] it needs."
Graffiti and crime
In fact the Corona area has the third highest rate of foreclosures, or repossessions, in the United States.
On La Salle Circle at least three properties were empty, awaiting sale.
One local resident is Jeanette Lovell, a British expat.
She and her husband are not in mortgage difficulties, yet she was still worried about her own home's value.
"We may have to relocate for my husband's job," Ms Lovell says.
"And I know that our house has lost $150,000 in value in 18 months - if we can sell it at all."
These are the ripples of the housing crisis: just 2% of America's mortgages are actually in foreclosure; just under 6% are said to be "delinquent", meaning payments are late by 30 days or more.
Yet Cindy Robinson, another resident of La Salle Circle, predicts more problems:
"You get graffiti," she says. "And then white collar crime."
Duty of care
Two doors down, another repossessed house has just been vacated.
Whoever had lived there had clearly left in a hurry: the floors littered with unwanted documents, clothes and children's' toys; a door is hanging from one hinge in the kitchen.
There are cockroaches and mouse droppings and part of the ceiling has caved in through water damage.
A local politician in the Corona area has proposed laws requiring banks and other companies that repossess properties to be responsible for their upkeep.
The measure would give county authorities the power to levy fines on lenders that fail to maintain empty homes in keeping with the properties around them.
It has yet to be voted upon, although similar laws are in place in other parts of the country.
Lucrative auctions
Back at the auction, most of the buyers seem to be amateur investors, with a varying degree of sympathy for those whose homes they have just bought.
Some are critical of those who had overstretched themselves in the housing market, others more focussed on the opportunities for them to make money from repossessed housing stock.
All seem confident they could turn a profit, that auction prices perhaps reflect a truer value, and that the rental market will stay strong while the crisis continues.
Meanwhile some are making money right now.
With experts predicting the number of foreclosures could carry on rising for at least the next six months, the auction companies know that theirs, at least, is a growth industry.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 289292.stm
Published: 2008/03/11 23:57:58 GMT
© BBC MMVIII
เคยอ่านหนังสือ RICH DAD POOR DAD เขาว่าเวลานี้เหมาะแก่การกู้เงินbankซื้อบ้านbankทำเลดีๆราคาถูกไว้ปล่อยเช่า
By Rajesh Mirchandani
BBC News, Los Angeles, California
In a large, featureless convention centre 40 miles east of Los Angeles, more than 1,000 people have gathered early on a Sunday morning.
From the stage, they are addressed in earnest by a man in tuxedo and bow tie, and they can watch the proceedings on giant video screens on either side of him.
He is preaching property, and although this auctioneer's high-speed patter sounds more like a cattle auction, here they are bidding for homes.
More than 100 houses are up for sale here and every two to three minutes a property goes under the hammer.
Similar auctions of repossessed houses are taking place nearly every weekend in California, where banks are cutting their losses from millions of dollars of bad debt.
Care required
There are bargains to be had. One man says he paid $375,000 for a house valued at $616,000.
Lot 132 was a five-bedroom family home with a pool and three-car garage on La Salle Circle, Corona, a pleasant middle-class suburban community east of Los Angeles.
It was expected to fetch some $400,000. In the end Cornelius Foster and Debra Moore paid $500,000 for it; still less than the $700,000 it was originally valued at.
"We're very excited," Cornelius says. "It's got a pool and we're looking forward to getting in and fixing it up.
"I'm smiling today."
Yet they are also aware of the house's history.
"We feel bad for the people that were there before," Ms Moore says.
It was a reminder of how, behind many a good deal, there often lies a tale of personal distress.
In one house on La Salle Circle, two days before its auction, an estate agent's sign outside proudly proclaims "selling the American Dream since 1969".
But, as estate agent Julie Bruckner tours the property with its chandelier in the living room and a huge walk-in closet upstairs, she is well aware of a poignant irony.
"There are so many in this area that are vacant.
"This home definitely needs some love, and a family that can give it the TLC [tender loving care] it needs."
Graffiti and crime
In fact the Corona area has the third highest rate of foreclosures, or repossessions, in the United States.
On La Salle Circle at least three properties were empty, awaiting sale.
One local resident is Jeanette Lovell, a British expat.
She and her husband are not in mortgage difficulties, yet she was still worried about her own home's value.
"We may have to relocate for my husband's job," Ms Lovell says.
"And I know that our house has lost $150,000 in value in 18 months - if we can sell it at all."
These are the ripples of the housing crisis: just 2% of America's mortgages are actually in foreclosure; just under 6% are said to be "delinquent", meaning payments are late by 30 days or more.
Yet Cindy Robinson, another resident of La Salle Circle, predicts more problems:
"You get graffiti," she says. "And then white collar crime."
Duty of care
Two doors down, another repossessed house has just been vacated.
Whoever had lived there had clearly left in a hurry: the floors littered with unwanted documents, clothes and children's' toys; a door is hanging from one hinge in the kitchen.
There are cockroaches and mouse droppings and part of the ceiling has caved in through water damage.
A local politician in the Corona area has proposed laws requiring banks and other companies that repossess properties to be responsible for their upkeep.
The measure would give county authorities the power to levy fines on lenders that fail to maintain empty homes in keeping with the properties around them.
It has yet to be voted upon, although similar laws are in place in other parts of the country.
Lucrative auctions
Back at the auction, most of the buyers seem to be amateur investors, with a varying degree of sympathy for those whose homes they have just bought.
Some are critical of those who had overstretched themselves in the housing market, others more focussed on the opportunities for them to make money from repossessed housing stock.
All seem confident they could turn a profit, that auction prices perhaps reflect a truer value, and that the rental market will stay strong while the crisis continues.
Meanwhile some are making money right now.
With experts predicting the number of foreclosures could carry on rising for at least the next six months, the auction companies know that theirs, at least, is a growth industry.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 289292.stm
Published: 2008/03/11 23:57:58 GMT
© BBC MMVIII
เคยอ่านหนังสือ RICH DAD POOR DAD เขาว่าเวลานี้เหมาะแก่การกู้เงินbankซื้อบ้านbankทำเลดีๆราคาถูกไว้ปล่อยเช่า
Rabbit VS. Turtle
-
humdrum
- Verified User
- โพสต์: 1961
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 115
สวัสดีครับคุณอา 
เล่มนั้นผมก็อ่านครับ อ่านแล้วก็ไปซื้อห้องที่โบ๊เบ๊ให้เขาเช่าเก็บค่าเช่า
แต่เวลา liquidate ลำบากจริง ๆ ครับ
งานศิลปที่คุณอาแนะนำ..ผมพาลูกไปดูมาแล้วครับ
ครั้งหนึ่งในชีวิตครับ ผมไม่รู่ว่าเขาจะเอาออกมาให้เราดูอีกเมื่อไหร่
ขอบพระคุณมากครับคุณอา
เล่มนั้นผมก็อ่านครับ อ่านแล้วก็ไปซื้อห้องที่โบ๊เบ๊ให้เขาเช่าเก็บค่าเช่า
แต่เวลา liquidate ลำบากจริง ๆ ครับ
งานศิลปที่คุณอาแนะนำ..ผมพาลูกไปดูมาแล้วครับ
ครั้งหนึ่งในชีวิตครับ ผมไม่รู่ว่าเขาจะเอาออกมาให้เราดูอีกเมื่อไหร่
ขอบพระคุณมากครับคุณอา
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 116
วันที่ผมไปดู ผมเห็นครอบครัวนึง พ่อแม่พาเด็กชายหญิงไปดูด้วย เด็กผู้หญิงโตแล้วใส่ชุดนักเรียน แต่เด็กผู้ชายอายุ๑๑-๑๒ ซนดี
เขามีเส้นสีเหลืองมั๊งทาที่พื้น กันไม่ให้คนเข้าใกล้ เพราะรูปอาจเสียหาย
เด็กผู้ชายข้ามเส้นสีเหลืองตลอด ซนตลอด พ่อแม่ไม่ห้ามเลย
ครั้งสุดท้าย ก็ไปเกี่ยวถูกลวดสลิงที่ใช้แขวนรูปอยู่จนได้ รูปสั่นไหวอย่างแรง
ผมไปบอกยามในห้องคอนโทรล เค้าว่ายามหน้าพื้นที่ไปทานข้าว
เราจะไม่มีโอกาสได้ดูรูปดีๆ ถ้าพวกเราไม่มีมารยาทและระเบียบวินัยในการดูนิทรรศการ
เขามีเส้นสีเหลืองมั๊งทาที่พื้น กันไม่ให้คนเข้าใกล้ เพราะรูปอาจเสียหาย
เด็กผู้ชายข้ามเส้นสีเหลืองตลอด ซนตลอด พ่อแม่ไม่ห้ามเลย
ครั้งสุดท้าย ก็ไปเกี่ยวถูกลวดสลิงที่ใช้แขวนรูปอยู่จนได้ รูปสั่นไหวอย่างแรง
ผมไปบอกยามในห้องคอนโทรล เค้าว่ายามหน้าพื้นที่ไปทานข้าว
เราจะไม่มีโอกาสได้ดูรูปดีๆ ถ้าพวกเราไม่มีมารยาทและระเบียบวินัยในการดูนิทรรศการ
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 117
Asian and European shares slide
European and Asian shares indexes have fallen as optimism about central bank measures to ease a global credit crisis were overshadowed by recession fears.
London's FTSE 100 index shed 1.8%, the Paris Cac 40 fell 1.8% and Frankfurt's Dax slid 1%. Tokyo's Nikkei lost 3.5% and Hong Kong's Hang Seng dropped 4.8%.
The sell off was sparked by a record oil price of more than $110 and fears it would slow corporate profit growth.
Analysts said there was also scepticism about the central banks' rescue plan.
The Bank of England, the US Federal Reserve, the European Central Bank and central banks in Canada and Switzerland said on Tuesday that they would inject more than $200bn into money markets to ease the credit crunch and stimulate lending.
Stocks rose on the announcement but that rise proved to be short-lived.
"Perception that the Fed was just buying time with the cash injections pervades the market," said Kim Joon-kie, an analyst at SK Securities.
He said it had not solved the "fundamental problems".
Nothing working?
On Thursday, finance firms were among the main fallers amid fears that the full impact of the credit crunch and the sub-prime crisis was yet to be felt.
Swiss bank UBS fell 3.8%, while the UK's Barclays shed 3.9% and Germany's Commerzbank declined 3.3%
The MSCI index of Asian markets outside Japan fell 2.9%, with finance firms among the main fallers including Australian bank Macquarie down 8.4%.
Rising oil prices hit airlines, with Japan Airlines and Singapore Airlines falling 2%.
In the US, the benchmark Dow Jones Industrial Average ended down 0.4% on Wednesday, a day after its biggest rally in five years.
"I'd say about 70% of the selling today was based on US factors, with the other 30% coming from Japan," said Yoku Ihara, of Retela Crea Securities.
"The Fed has been doing various things to solve the credit crisis, but nothing's been working."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 293458.stm
Published: 2008/03/13 09:30:45 GMT
© BBC MMVIII
European and Asian shares indexes have fallen as optimism about central bank measures to ease a global credit crisis were overshadowed by recession fears.
London's FTSE 100 index shed 1.8%, the Paris Cac 40 fell 1.8% and Frankfurt's Dax slid 1%. Tokyo's Nikkei lost 3.5% and Hong Kong's Hang Seng dropped 4.8%.
The sell off was sparked by a record oil price of more than $110 and fears it would slow corporate profit growth.
Analysts said there was also scepticism about the central banks' rescue plan.
The Bank of England, the US Federal Reserve, the European Central Bank and central banks in Canada and Switzerland said on Tuesday that they would inject more than $200bn into money markets to ease the credit crunch and stimulate lending.
Stocks rose on the announcement but that rise proved to be short-lived.
"Perception that the Fed was just buying time with the cash injections pervades the market," said Kim Joon-kie, an analyst at SK Securities.
He said it had not solved the "fundamental problems".
Nothing working?
On Thursday, finance firms were among the main fallers amid fears that the full impact of the credit crunch and the sub-prime crisis was yet to be felt.
Swiss bank UBS fell 3.8%, while the UK's Barclays shed 3.9% and Germany's Commerzbank declined 3.3%
The MSCI index of Asian markets outside Japan fell 2.9%, with finance firms among the main fallers including Australian bank Macquarie down 8.4%.
Rising oil prices hit airlines, with Japan Airlines and Singapore Airlines falling 2%.
In the US, the benchmark Dow Jones Industrial Average ended down 0.4% on Wednesday, a day after its biggest rally in five years.
"I'd say about 70% of the selling today was based on US factors, with the other 30% coming from Japan," said Yoku Ihara, of Retela Crea Securities.
"The Fed has been doing various things to solve the credit crisis, but nothing's been working."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 293458.stm
Published: 2008/03/13 09:30:45 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 118
Egypt army to tackle bread crisis
Egypt's president has ordered the army to increase the production and distribution of bread, in an attempt to cope with serious shortages.
Rising prices and alleged corruption have sparked recent clashes at bakeries in poorer neighbourhoods, leading to several deaths.
Hosni Mubarak said eradicating bread queues was "imperative".
The army and interior ministry control numerous bakeries normally used to supply bread for troops and police.
Mr Mubarak issued his order to the army at a meeting of cabinet ministers on Sunday that was called to address the growing crisis, his spokesman said.
"Bread should be provided to the citizens and the lines should disappear," Suleiman Awwad quoted Mr Mubarak as saying.
The price of wheat has more than tripled on international markets since last summer.
Mr Mubarak has ordered the government to use some foreign reserves to buy additional wheat from the international market, the spokesman said.
Many of Egypt's 70m population, about half of whom live below the poverty line, survive on subsidised bread.
Unsubsidised bread is 10-12 times more expensive than the subsidised five-piaster loafs (less that $0.01).
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/m ... 300899.stm
Published: 2008/03/17 14:23:14 GMT
© BBC MMVIII
Egypt's president has ordered the army to increase the production and distribution of bread, in an attempt to cope with serious shortages.
Rising prices and alleged corruption have sparked recent clashes at bakeries in poorer neighbourhoods, leading to several deaths.
Hosni Mubarak said eradicating bread queues was "imperative".
The army and interior ministry control numerous bakeries normally used to supply bread for troops and police.
Mr Mubarak issued his order to the army at a meeting of cabinet ministers on Sunday that was called to address the growing crisis, his spokesman said.
"Bread should be provided to the citizens and the lines should disappear," Suleiman Awwad quoted Mr Mubarak as saying.
The price of wheat has more than tripled on international markets since last summer.
Mr Mubarak has ordered the government to use some foreign reserves to buy additional wheat from the international market, the spokesman said.
Many of Egypt's 70m population, about half of whom live below the poverty line, survive on subsidised bread.
Unsubsidised bread is 10-12 times more expensive than the subsidised five-piaster loafs (less that $0.01).
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/m ... 300899.stm
Published: 2008/03/17 14:23:14 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 119
FA unveils £200m grassroots plan
The Football Association has announced plans to plough £200m into grassroots football in England under its new five-year National Game Strategy.
It wants more people playing the game, aims to enhance facilities, invest more money in skills and coaching as well as recruiting more referees.
"I think we'll see a transformed world of children's football," FA chairman Lord Triesman told BBC Radio 5 Live.
"It's with in our grasp - the amount of money invested is very significant."
The scheme also includes action to improve the behaviour of players on the pitch - as well as those on the sidelines - towards match officials.
The FA is concerned by the high numbers of referees dropping out every season because of abuse, as well as providing more support in recruiting and retaining referees.
"I've seen too many referees walk away," added Triesman. "Respect for decisions is absolutely critical and keeping people is critical."
The FA came up with the strategy after consulting 37,000 people involved in the game.
"We will aim to provide a high-quality coaching environment for every player - whatever their age or ability," said the FA in a statement on its website.
"There are some challenging targets in the strategy. We rely hugely on 400,000 volunteers to run the game at a local level and need to support them more."
Story from BBC SPORT:
http://news.bbc.co.uk/go/pr/fr/-/sport2 ... 302137.stm
Published: 2008/03/18 08:31:37 GMT
© BBC MMVIII
The Football Association has announced plans to plough £200m into grassroots football in England under its new five-year National Game Strategy.
It wants more people playing the game, aims to enhance facilities, invest more money in skills and coaching as well as recruiting more referees.
"I think we'll see a transformed world of children's football," FA chairman Lord Triesman told BBC Radio 5 Live.
"It's with in our grasp - the amount of money invested is very significant."
The scheme also includes action to improve the behaviour of players on the pitch - as well as those on the sidelines - towards match officials.
The FA is concerned by the high numbers of referees dropping out every season because of abuse, as well as providing more support in recruiting and retaining referees.
"I've seen too many referees walk away," added Triesman. "Respect for decisions is absolutely critical and keeping people is critical."
The FA came up with the strategy after consulting 37,000 people involved in the game.
"We will aim to provide a high-quality coaching environment for every player - whatever their age or ability," said the FA in a statement on its website.
"There are some challenging targets in the strategy. We rely hugely on 400,000 volunteers to run the game at a local level and need to support them more."
Story from BBC SPORT:
http://news.bbc.co.uk/go/pr/fr/-/sport2 ... 302137.stm
Published: 2008/03/18 08:31:37 GMT
© BBC MMVIII
Rabbit VS. Turtle
-
Mr. Boo
- สมาชิกกิตติมศักดิ์
- โพสต์: 1841
- ผู้ติดตาม: 0
บทความน่าสนใจทางธุรกิจจาก BBC Business
โพสต์ที่ 120
The Iraq war: Counting the cost
Analysis
By Steve Schifferes
Economics reporter, BBC News
The Iraq war has proved far more costly than the US government thought when it went to war five years ago.
But controversy still rages over the ultimate size of the bill for the war, with some suggesting the cost could reach $3 trillion ($3,000bn, or £1,500bn).
According to the non-partisan Congressional Budget Office, the direct costs of the war on terror, which include operations in both Iraq and Afghanistan, have so far have reached $752bn, if the current year's appropriation of $188bn is included.
By the end of next year, the direct cost to US Treasury will be over $1 trillion.
The war has been far more costly than planned because it has gone on so long.
That has led to growing spending on procurement, to replace ammunition and vehicles, as well as higher costs for the large numbers of troops on the ground.
In fact, the yearly cost has doubled since the 2003 appropriation of $74bn - which the Bush administration expected to be the total cost of the war.
'Necessary costs'
According to President George W Bush, speaking at the Pentagon on 19 March, it has been a cost worth paying.
Others, mainly Democrats, say the money would have been better spent at home.
Hillary Clinton said on Tuesday that the trillion dollar cost "is enough to provide health care for all 47 million uninsured Americans and quality pre-kindergarten for every American child, solve the housing crisis once and for all, and make college affordable for every American student".
The higher cost of the war has also contributed to the US budget deficit, which could rise further if the economy slows down, and has reduced the fiscal headroom to put in place a bigger economic stimulus package.
The Bush Administration insisted on funding the war as a "emergency appropriation" each year, which means it has not been included in the official calculation of future budget deficits.
Economic impact
Many economists argue that the indirect costs of the war are even greater.
A study by the Nobel Prize economist Joseph Stiglitz of Columbia University and Linda Bilmes, a budget expert from Harvard, concludes the cost could be at least $3 trillion.
The figure is so large because, Professor Stiglitz says, it includes costs that official estimates do not, such as the cost of the lifetime medical care for 65,000 injured American personnel.
And he says that 100,000 of the 750,000 combat troops who have been discharged so far have been diagnosed with mental health problems.
On the strength of evidence from previous conflicts, he said, still others will have various health and mental problems in the future.
There will be disability pay and health care costs to the US budget that will continue for several decades.
He estimates these costs could add another $600bn to the price of the war.
Health costs
His figures also include the loss to the economy from injured people being unable to contribute as productively as they might otherwise would have done, and the cost of sending hundreds of thousands of National Guard troops who would otherwise have had worked at their civilian jobs - which he says amounts to around $400bn.
More controversial are the attempts to add up other economic costs of the war.
Professor Sitglitz - who served in the Clinton administration and is a former World Bank chief economist - says it is right to add the interest that the government will have to pay on its borrowing to his cost calculation, which will amount to another $600bn.
He also brings in the cost of higher oil prices, which he says are partly due to the conflict.
He argues that by financing the war by deficit financing, the long-term macro-economic cost to the economy could be as high as $1.9 trillion.
And he says the overall cost of the Iraq war is approaching that of World War II, which cost the US $5 trillion in today's money.
His calculations on the broader impact of the war are similar to those in 2002 by Yale economics professor William Nordhaus.
And they also echo the concerns expressed by Lawrence Lindsey, President Bush's first economic adviser, who was sacked in December 2002 for warning that the Iraq war could cost $200bn.
Controversy continues
However, the war's supporters say that many of these arguments are hypothetical and being made on political grounds.
President Bush argues that war critics are rounding on the cost of the war because of the very success of the "surge."
"War critics can no longer credibly argue that we are losing in Iraq - so now they argue the war costs too much. In recent months we have heard exaggerated estimates of the costs of this war."
However, with the US involvement in Iraq likely to carry on for some time, whatever happens in the November election, the controversy over the costs of the war is likely to intensify.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 304300.stm
Published: 2008/03/19 11:57:45 GMT
© BBC MMVIII
Analysis
By Steve Schifferes
Economics reporter, BBC News
The Iraq war has proved far more costly than the US government thought when it went to war five years ago.
But controversy still rages over the ultimate size of the bill for the war, with some suggesting the cost could reach $3 trillion ($3,000bn, or £1,500bn).
According to the non-partisan Congressional Budget Office, the direct costs of the war on terror, which include operations in both Iraq and Afghanistan, have so far have reached $752bn, if the current year's appropriation of $188bn is included.
About 80% of that cost has been spent in Iraq.War critics can no longer credibly argue that we are losing in Iraq - so now they argue the war costs too much
President George W Bush
By the end of next year, the direct cost to US Treasury will be over $1 trillion.
The war has been far more costly than planned because it has gone on so long.
That has led to growing spending on procurement, to replace ammunition and vehicles, as well as higher costs for the large numbers of troops on the ground.
In fact, the yearly cost has doubled since the 2003 appropriation of $74bn - which the Bush administration expected to be the total cost of the war.
'Necessary costs'
According to President George W Bush, speaking at the Pentagon on 19 March, it has been a cost worth paying.
"No one would argue that this war has not come at a high cost in lives and treasure - but those costs are necessary when we consider the cost of a strategic victory for our enemies in Iraq."IRAQ WAR COST ESTIMATES
Direct costs: $750bn
Future direct costs: c$500bn
Cost of US casualties: $600bn
Losses to economy: $400bn
Added interest: $600bn
Macro-economic impact:
$1-$2 trillion
sources: CBO, OMB, Stiglitz and Blimes
Others, mainly Democrats, say the money would have been better spent at home.
Hillary Clinton said on Tuesday that the trillion dollar cost "is enough to provide health care for all 47 million uninsured Americans and quality pre-kindergarten for every American child, solve the housing crisis once and for all, and make college affordable for every American student".
The higher cost of the war has also contributed to the US budget deficit, which could rise further if the economy slows down, and has reduced the fiscal headroom to put in place a bigger economic stimulus package.
The Bush Administration insisted on funding the war as a "emergency appropriation" each year, which means it has not been included in the official calculation of future budget deficits.
Economic impact
Many economists argue that the indirect costs of the war are even greater.
A study by the Nobel Prize economist Joseph Stiglitz of Columbia University and Linda Bilmes, a budget expert from Harvard, concludes the cost could be at least $3 trillion.
The figure is so large because, Professor Stiglitz says, it includes costs that official estimates do not, such as the cost of the lifetime medical care for 65,000 injured American personnel.
And he says that 100,000 of the 750,000 combat troops who have been discharged so far have been diagnosed with mental health problems.
On the strength of evidence from previous conflicts, he said, still others will have various health and mental problems in the future.
There will be disability pay and health care costs to the US budget that will continue for several decades.
He estimates these costs could add another $600bn to the price of the war.
Health costs
His figures also include the loss to the economy from injured people being unable to contribute as productively as they might otherwise would have done, and the cost of sending hundreds of thousands of National Guard troops who would otherwise have had worked at their civilian jobs - which he says amounts to around $400bn.
More controversial are the attempts to add up other economic costs of the war.
Professor Sitglitz - who served in the Clinton administration and is a former World Bank chief economist - says it is right to add the interest that the government will have to pay on its borrowing to his cost calculation, which will amount to another $600bn.
He also brings in the cost of higher oil prices, which he says are partly due to the conflict.
He argues that by financing the war by deficit financing, the long-term macro-economic cost to the economy could be as high as $1.9 trillion.
And he says the overall cost of the Iraq war is approaching that of World War II, which cost the US $5 trillion in today's money.
His calculations on the broader impact of the war are similar to those in 2002 by Yale economics professor William Nordhaus.
And they also echo the concerns expressed by Lawrence Lindsey, President Bush's first economic adviser, who was sacked in December 2002 for warning that the Iraq war could cost $200bn.
Controversy continues
However, the war's supporters say that many of these arguments are hypothetical and being made on political grounds.
President Bush argues that war critics are rounding on the cost of the war because of the very success of the "surge."
"War critics can no longer credibly argue that we are losing in Iraq - so now they argue the war costs too much. In recent months we have heard exaggerated estimates of the costs of this war."
However, with the US involvement in Iraq likely to carry on for some time, whatever happens in the November election, the controversy over the costs of the war is likely to intensify.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/hi/b ... 304300.stm
Published: 2008/03/19 11:57:45 GMT
© BBC MMVIII
Rabbit VS. Turtle
บันทึกไม่สำเร็จ