Hennion & Walsh: Hennion and Walsh Asset Management Launches a …
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Permira recruits asset management veteran
UK buyout firm Permira has strengthened its push into financial services by recruiting Keith Jones, the former chief executive of UK insurer Aviva’s fund management arm, as a senior adviser – the latest move by firms to … read more…
Former Morley chief executive joins Permira as financial services …
‘We are delighted to welcome Keith as an adviser to the financial services team,’ says Fraser. ‘He brings extensive experience in the wealth and asset management industries, areas where we see attractive investment … read more…
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Tips To Ensure a Successful Financial Independence Plan
Almost everyone strives to be financially independent and create a goal of sometime being debt free and being able to sustain themselves on investment income so that they no longer have to trade hours… read more…
Real Estate Investing- Creating Wealth and Income
Wealth building through real estate investing is a goal of many. But how does one approach this goal? Unfortunately there is no simple answer because there are many approaches. There are many ways of … read more…
Developing a Basic Financial Model – Part VI: Long-Term Assets
In continuing in our series of fundamental concepts of financial modeling, and after taking a quick break to discuss the cash conversion cycle, I will now turn to another initial step of understanding… read more…
From GoArticles.com
Open Question: ( o _ 0 ) Is financial corruption a new trend or what? ?
By MARCY GORDON, AP Business Writer Marcy Gordon, Ap Business Writer – 25 mins ago
WASHINGTON – Federal regulators on Wednesday charged a missing hedge fund manager with fraud, saying he misled investors and overstated the value of investments in the six funds by about $300 million.
The Securities and Exchange Commission won a court order freezing the assets of Arthur G. Nadel, of Sarasota, Fla., and other defendants in the case.
Nadel owed investors a $50 million payout, told his wife in a note he felt guilty and threatened to kill himself, according to the Sarasota County Sheriff’s Office. The authorities believe that Nadel, 76, planned his Jan. 14 disappearance.
In a lawsuit filed in federal court in Tampa, the SEC said Nadel recently transferred at least $1.25 million from two of the funds to secret bank accounts that he controlled.
Two investment companies co-owned by Nadel, Scoop Capital and Scoop Management, agreed in a settlement with the SEC to injunctions and an asset freeze. They neither admitted nor denied wrongdoing.
http://news.yahoo.com/s/ap/20090121/ap_on_bi_ge/missing_money_manager;_ylt=AtMV7T.PCmWnbny2zF_P_kzZn414 Throw this punk in jail with Bernard Madoff.
Resolved Question: Was and is this the America you and your ancestors fought/fight for ?
August 30, 2005: 12:24 PM EDT
By Jeanne Sahadi, CNN/Money senior writer
NEW YORK (CNN/Money) – If sky-high executive pay at publicly traded companies gives you vertigo, you might want to read this sitting down.
In 2004, the ratio of average CEO pay to the average pay of a production (i.e., non-management) worker was 431-to-1, up from 301-to-1 in 2003, according to “Executive Excess,” an annual report released Tuesday by the liberal research groups United for a Fair Economy and the Institute for Policy Studies.
That’s not the highest ever. In 2001, the ratio of CEO-to-worker pay hit a peak of 525-to-1.
Still, it’s quite a leap year over year, and it ranks on the high end historically. In 1990, for instance, CEOs made about 107 times more than the average worker, while in 1982, the average CEO made only 42 times more.
The cumulative pay of the top 10 highest paid CEOs in the past 15 years totaled $11.7 billion.
And though the specific individuals in each of those annual top 10 lists changed year to year, many bosses did pretty well throughout the entire period. Citigroup’s Sandy Weill, for example, has made $1.1 billion since 1990.
“Pay” in this instance refers to total compensation – including salary, bonuses, restricted stock awards, payouts on long-term incentives and the value of options exercised during the year.
The report also compares the growth in average CEO pay – which was $11.8 million in 2004 – to the growth in the minimum wage. Had the minimum wage risen as fast as CEO compensation since 1990, the researchers calculated, it would now be $23.03 an hour instead of just $5.15. And the average production worker would be making $110,126 a year instead of $27,460
http://money.cnn.com/2005/08/26/news/economy/ceo_pay/
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Most people will have read the recent reports of how Microsoft Chairman Bill Gates has had his personal net worth soar over 100 billion dollars and then drop down to 55 billion. He certainly knows how to make (and lose) money.
(Note: This article was written in 1998, Bill’s Fortunes have dropped a touch since then.)
Consider that he made this money in the 25 years or so since Microsoft was founded in 1975. If you presume that he has worked 14 hours a day on every business day of the year since then, that means he’s been making money at a staggering million dollars per hour, around $300 per second.
http://www.templetons.com/brad/billg.html
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About one-third of the adult homeless population have served their country in the Armed Services. Current population estimates suggest that about 154,000 veterans (male and female) are homeless on any given night and perhaps twice as many experience homelessness at some point during the course of a year. Many other veterans are considered near homeless or at risk because of their poverty, lack of support from family and friends, and dismal living conditions in cheap hotels or in overcrowded or substandard housing.
http://www1.va.gov/homeless/page.cfm?pg=1
1. What is The Carlyle Group?
The Carlyle Group is a global private equity firm with $91.5 billion of assets under management committed to 66 funds as of September 30, 2008. Carlyle invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $52.7 billion of equity in 866 transactions for a total purchase price of approximately $225 billion. The Carlyle Group employs more than 1000 people in 21 countries. In the aggregate, Carlyle portfolio companies have more than $109 billion in revenue and employ more than 415,000 people around the world.
http://www.carlyle.com/Company/item1678.html
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By Bob Willis
Jan. 15 (Bloomberg) — First-time claims for U.S. unemployment benefits last week rose more than forecast, signaling companies stepped up the pace of firings at the start of the year.
Initial jobless claims jumped by 54,000 to 524,000 in the week that ended Jan. 10, from a revised 470,000 the prior week, the Labor Department said today in Washington. The total number of people collecting benefits decreased from a 26-year high.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aWEkoFNXb3.E&refer=us
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The estimated population of the United States is 305,466,894
so each citizen’s share of this debt is $34,768.32.
http://www.brillig.com/debt_clock/
It is believed President-elect Obama’s inauguration will be the costliest in history — around $50 million — despite the recession. President Bush has declared a state of emergency to free up federal funds to help the district cop
Resolved Question: Will you write your US Senator and US Congressman?
Dear Senator / Congressman
How well has Mary Shapiro run the ship at FINRA? Today’s Wall Street Journal front page article discusses this. But after reviewing this, I don’t believe that CHANGE will be in the cards for the investing public.
During in past decade, where did all the trouble in the financial world come from? Was it from Main Street or was it Wall Street? (Enron’s electricity manipulators are now the oil market manipulators. Supply and demand forces do not drive oil up $25 in one day!) Have the scandals come from the regional or community banks, credit unions, independent broker-dealers or independent planning firms? No, it came from the BIG FIRMS on Wall Street’s with their Non-transparent, Unregulated Credit Default Swaps and other undecipherable schemes. It was assisted by the abolishing of protection policies like the “Uptick Rule”. So speculators could short company stocks into the ground in just a couple of days.
Criminal Con-man, Bernard Madoff ran a brokerage firm that was under FINRA oversight and an insider; once the head of the NYSE. The SEC admittedly knew about it in 1998 but turned a blind eye. It could have stopped then at 1 billion but, was allowed to grow into a 50 billion dollar ponzi scheme. Please stop appointing the gangsters as policemen and, stop allowing them to regulate their own criminal activity.
Maybe the regulators should eat their own cooking. If the higher ranks of the SEC and FINRA were sold equity indexed annuities, life insurance promoted as retirement savings, annuities with 16 year surrender periods, tax shelters found to be abusive, complex mortgage securities that they couldn’t understand or securities firm recommends but trash privately, MAYBE they would change their tune.
I see, with this appointment of Mary Shapiro, the continuation of supporting the system that has put us in the economic position we are in today and the further erosion of consumer protection.
DO YOUR JOB, NEW SENATOR!!! Start protecting the little man on main street, the majority of your constituency! FIX IT!!!
I must cite Jeff Bogue’s article, Jeff is an independent, fee-only financial planner with his firm, Bogue Asset Management, LLC as a reference for my letter. I sent this to my senator and congressman. Please write something to them. Let them know how you feel. Copy / paste mine if you agree and are to busy to write your own.
UW System Shared Financial System SFS PeopleSoft Asset Management User
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