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CNBC: 'Anyone Who Owns A Suit Can Come On Television'

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ENGLEWOOD CLIFFS, NJ—Citing a need to provide quality programming 24 hours a day, CNBC has extended an invitation to anyone who owns a suit to drop by the financial news network and be a guest expert, cohost a show with Larry Kudlow, or do whatever. “Don’t worry about what kind of shape your suit is in,” said CNBC president Mark Hoffman, who explained that his network’s studio has an iron and some old phone books that people can press their jackets on. (more…)

Dubai gets $10 billion injection

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DUBAI — Dubai said Monday that it has received $10 billion in financing from Abu Dhabi, which will pay part of the debt held by conglomerate Dubai World and its property unit Nakheel.

Out of this, $4.1 billion will be used to repay Nakheel’s Islamic bond, or sukuk, that matures Monday. The remainder of the funds will be used to finance Dubai World’s needs up until the end of April 2010.

“We are here today to reassure investors, financial and trade creditors, employees, and our citizens that our government will act at all times in accordance with market principles and internationally accepted business practices,” Sheikh Ahmed bin Saaed al-Maktoum said in a statement.

Dubai rocked world markets in late November when it requested a freeze on debt payments by Dubai World in order to restructure the conglomerate. Nakheel’s bond had been seen by many as a litmus test for Dubai’s ability to repay more than $80 billion of government and corporate debt.

“I think Abu Dhabi saw the adverse market reaction to Nakheel debt restructuring news play out over several days and perhaps decided they had seen enough,” said Saud Masud, senior real estate analyst at UBS AG.

Expectations that Nakheel could reach a positive outcome helped boost shares in Dubai on Sunday. The Dubai Financial Market’s main index closed up 3.3% at 1695.35, extending Thursday’s 7% rally. However, the benchmark is still down about 19% since Dubai World requested the debt freeze.

“This is very positive news, and will be welcomed relief to bondholders in particular. We are expecting a strong positive reaction to U.A.E. and regional markets,” said Ali Khan, managing director at Arqaam Capital. “Details yet to emerge, however headline is very positive.”

In its statement, Dubai said it will focus on addressing the concerns of Dubai World’s creditors and will start discussions with creditors and contractors shortly.

The Media Campaign Begins: BP Is Now Too Big To Fail

As prospects before BP get darker by the day, and the likelihood of bankruptcy grows, the TBTF propaganda begins. Evidence A – Bloomberg headline: “BP Demise Would Threaten U.S. Energy Security, Industry.” Just as the failure of bankrupt banks was supposed to lead to the destruction of capitalism, so the bankruptcy of BP plc is now supposed to lead to the degeneration of US energy independence. And who in their mind would force the Chapter 11 of a systemically important company? Once again, free market capitalism is about to walk out through the back door…

From Bloomberg:

 
 

The company’s demise would be disruptive to the American oil industry, given that BP is the largest oil and gas producer in the U.S., with about 1 million barrels per day of production. Some 7,000 of BP’s 23,000 U.S. employees work in the Houston area, many in a suburban office park just off the Katy Freeway.

From there the company runs its Gulf of Mexico offshore operations with a phalanx of engineers, geologists, and computer scientists. “These are highly compensated people,” says J. Robinson West, chairman of Washington-based consultants PFC Energy. (more…)

Links for you

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This is what Crude Oil looks like.

Mexico is paying the price for not being open in its development of crude reserves.

What is the real consumer impact on our economy?

Not only should we not get rid of nuclear weapons, but giving one to an unstable country often makes it safer to deal with them.

Just another step along China’s path to economic and political liberalization, it’s happening right before our eyes people.

My father, who is a real estate attorney in NYC, told me this week that all of the sudden he is slammed with deals after nothing for the past year, interesting.

Good luck finding a job right now.

What happens when California reaches 15% unemployment and crude trades at 100$.

The is ZERO value in cable news, Thomas Barnett is one of my favorite writers by the way.

I will volunteer to colonize the moon, but I don’t ever want to pay taxes up there.

Who gets how much oil from Iran.

There is no such thing as a safe haven for terrorist organizations anymore.

If you have the time and desire, please read this report on China, it’s long, but well worth it.

For all the ruckus in 08′, investing in hedge funds will always be better than leaving it to the market.

Smart kids will always want to go into investment banking, dumb rich kids as well.

Mera Bharat Mahaan

sensex16kThe Sensex, the benchmark index of BSE, posted a return of 64% during the first 36 weeks of the current calendar year increasing their kitty by whopping Rs 946,757 cr. Incidentally, this is the highest return during the same period for the last 17 years.

Many hurdles for Wardha’s farmer suicide cases

Farmers grow desperate as India is hit by worst drought since 1972

Drought-hit Indian farmers sell wives to pay debts

Uttar Pradesh Farmers Among Worst Hit by Drought

Dark secrets of Baramati

Drought, debt lead to Indian Farmers’ suicide

India’s Sugar Crop Wilts Amid Drought

Droughtexpands in India, sugar regions hitHunger haunts more than 20% in India, much of Asia: ADB report

 

 

Is India getting poorer?

Against Quantification

Reading through Linchpin by Seth Godin advocates getting away from the quantified.

We measure the quantified because we can. But we should create the unquantified because it’s so rare. If you can quantify it, then probably someone before you figured out a why to grind it out. And if you can grind it out, someone can grind it out cheaper than you can. On the other hand, the really valuable stuff, the stuff we pay a lot for, is unquantified. Things like creating joy or security or happiness. No easy measurements for those, thus they are art, and art is always worth more than the predicted.

Links For Traders

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Interesting reads:

 

Links For Traders

Interesting reads: