| PANAMERSA Corporation (PNMS) Partner DESIMPLEX to Supply New ...
DALLAS, TX and PANAMA CITY -- (MARKET WIRE) -- March 19, 2007 -- PANAMERSA Corporation (PINKSHEETS: PNMS) announces Partner DESIMPLEX is in the final Beta testing of PDR trading software to be used by the newly formed Stock Trading company PDR Exchange (Panama), Inc. PDR Exchange (Panama), Inc. will be an operating company of Fundacion Pan America and will be the engine used to trade receipts issued by Fundacion Pan America. Known as a Pan American Depository Receipt (PDR), it allows beneficial owners of the Fundacion to buy and sell PDRs online anywhere in the world. This will in effect create a private trading system that is open 24 hours a day, 7 days a week to anyone in the world who has a computer and is a beneficiary of the Fundacion. The beauty of the system is it completely eliminates any naked shorting or manipulation of Share Price (PPS) by brokers and market makers, while giving the individual beneficiary complete anonymity.
James Needham Dies at 80; Headed NY Stock Exchange
The Washington Post reports the Needham, who presided over the Big Board during the legislative and regulatory tumult of the early 1970s, died April 6 at his home in Southampton, N.Y. He had myelodysplastic syndrome, a bone marrow disorder.
Needham was a certified public accountant and held a seat on the Securities and Exchange Commission (SEC) before the NYSE hired him in 1972 to guard against reforms proposed in Washington that would make the securities industry less clubby and far more competitive to smaller investors.
Among the major changes he tried to prevent on his four-year watch was the elimination of fixed brokerage fees - a nearly 200-year-old practice - and the implementation of negotiated rates for stock transactions.
John Coffee, a securities law expert at Columbia University, said Needham "was on the wrong side of history" on rate reform.
It all returns to lenders
THE Barefoot Investor has excess emotional baggage, commitment issues and is generally regarded as unreliable around the house. Well, that's according to a snap poll of three of his ex-girlfriends. Surveys are often conducted and concocted to deliver a desired outcome -- how else can you explain that 77 per cent of Australians believe that Simone was right in going back to Shane? So when I read about a recent survey by the Residential Development Council which found that "property experts believe only 7 per cent of Generation Y will ever be able to afford to buy their first home", I had my doubts. However, while it's ludicrous to believe that younger generations will never attain property, for the short term at least the RDC survey is probably right.
Chapman Capital Supports Embarcadero Sale Agreement Advisor to ...
LOS ANGELES, April 6 /PRNewswire/ -- Chapman Capital L.L.C., investment advisor to two investment funds that together own 9.3% of Embarcadero Technologies, Inc. ; ("Embarcadero" or "the Company"), today announced its support of the Company's definitive agreement to be acquired for $7.20 per share by an affiliate of Thoma Cressey Bravo (TCB). On March 7, 2007, Chapman Capital filed a Schedule 13D with the Securities and Exchange Commission (SEC) demanding that Embarcadero resume negotiations with TCB or other bidders regarding the sale of the Company. Robert L. Chapman, Jr., Managing Member of Chapman Capital, commented, "Under private ownership, Embarcadero's relatively small size should become an asset vs. its being a liability in the public domain. Moreover, following TCB's December 16, 2006 decision to terminate its September 6, 2006 agreement to acquire Embarcadero, I am confident that Orlando Bravo recognizes the importance to TCB's reputation of consummating this revised transaction." Chapman Capital also announced that, as result the revised merger agreement, it has terminated its prospective plan to replace the majority of Embarcadero's Board of Directors (the "Board").
Hedge funds and ETFs: Strange bedfellows
In the wide spectrum of choices available to modern investors, few vehicles seem farther apart than exchange traded funds and hedge funds. ETFs are seen as commoditized, low-cost, low-return products for the retail masses, while hedge funds are viewed as high-complexity, high-cost, high-return vehicles for the ultrawealthy elite. However, to a degree not widely understood, these two investment classes overlap considerably and are largely dependent on one another. ETFs and hedge funds both have roots in fairly simple investment strategies that have grown increasingly complex over the years. As the name suggests, hedge funds originally were designed to mitigate the risks of stock and bond investing through shorting strategies that traded excess returns for consistency.
Ivanhoe Mines and Mongolian Government Reach Agreement in ...
ULAANBAATAR, MONGOLIA -- (MARKET WIRE) -- 04/10/07 -- John Macken, President and CEO of Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN), and Peter Meredith, Deputy Chairman, said today that Ivanhoe Mines and its strategic partner, Rio Tinto, have reached agreement in principle with the Mongolian Government's Working Group on a draft Investment Agreement for the development of the Oyu Tolgoi copper-gold project in Mongolia's South Gobi Region. The draft agreement remains subject to review and approval by the Cabinet of the Mongolian Government and the National Parliament and the settlement of definitive documentation. The draft agreement also is subject to review and approval by the boards of directors of Ivanhoe Mines and Rio Tinto. Detailed information will be released when appropriate, subject to approval of the draft agreement by the Mongolian Government's Cabinet.
Hollinger Insiders Allowed to Trade Shares, Regulator Says
April 10 (Bloomberg) -- The Ontario Securities Commission agreed to lift a ban on trading of Hollinger Inc. shares by current and former insiders after the newspaper company, once controlled by Conrad Black, resumed filing financial reports. A three-person panel agreed with a joint submission by the Toronto-based company and the regulator that the public's interest won't be hurt by allowing insiders to resume trading the stock. Canadian securities regulators imposed the ban on current and former managers and directors in June 2004 because the company had failed to file financial statements since 2003. Last month, Hollinger filed financial reports covering four years, and is continuing to disclose ``material developments'' to the public, Shawn McReynolds, a lawyer for the company, told a hearing in Toronto today.
Insurance Companies Commit to Climate Change Disclosure: Calvert ...
BETHESDA, Md., April 10 /PRNewswire/ -- Calvert, one of the nation's largest families of socially responsible mutual funds, announced today that it has withdrawn climate change shareholder resolutions filed with two leading insurance companies: The Hartford Financial Services Group, Inc. and Prudential Financial Inc. The two companies agreed to improve their public reporting and disclosure regarding the potential financial risks they face from climate change and strategies for mitigating those risks. "As a responsible corporate citizen and as a major underwriter of risk, it's appropriate for The Hartford to address the .
City candidates: 11 have skipped casting ballots
Despite their pleas for voters to go to the polls and elect them, several of the candidates running for City Council have spotty records of casting ballots themselves in the past decade. Registered voters cite a litany of reasons not to cast their ballots - not being familiar with candidates, health problems, being out of town. But somebody running for office should vote, state and local political scientists said. .
An Upscale Vision for Downtown
Imagine downtown Riverside teeming with high-income professionals, upscale neighborhoods, trendy restaurants, boutique businesses, artistic attractions, and an expanded federal court complex. If Riverside leaders get their way, the gritty city center will be transformed in five years into a vibrant urban village and government business district, where residents can stroll into eateries, entertainment and art venues around the clock. The vision for downtown is the cornerstone of the much-heralded Riverside Renaissance Initiative, a strategy that aims to complete 30 years of citywide improvements in just five years. .
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