Tuesday 6 October 2009

Busy like a busy bee on busy bee day.



Busy like a busy bee on busy bee day. And yet, there’s little chance that someone would mistake my kindness for weakness. May core of stability keep me grounded. This makes it easy to stay in touch with reality, even when someone appeals to my soft side and take me for granted: see how the UK’s Foreign Office щенок “… nos temos uma b-a-n-a-n-a”. Which again, the cocaine bastards from PS’s of European Portland 450 Cement fairly well speaking in Japanese through the “web” of the Telenor/Alfa Group/Vimpelcom/Kyivstar, calling themselves “каміняри жебраки” and like the $19 billion dollars clowns like the offered image of the “Galeria de Sua peж”. It’s good that the Trichet like this confusion. Dam! I don’t know if any one can catch my cliff when I speak in this way. To help myself, I go to put “fallacy” of one of many sober people to whom we should sometimes listen to. In way of, the received from the president of Hedge Fund Standard Board in one hand, and the good laugh in respect the nobody (and I think about 7 billion people of this planet) knows how the Lemberg’s “гоп-стоп” happen. Writing this, I want immediately put the “Stop Loss”, like the Brotherhood of City do. For one reason only. The expressing my ideas, I’ll have to drop back to later on see where the best “avenue” of support can be endorsed. Also, it should be good time to exercise caution and care in my present “business” dealings, both in the physical (WB) and financial realm (read: Calderon, not the Caldeira). Look for yourselves. Picture is this: the part of me that deals with how I analyze the events can be apparently very confuse and busy – busy like a busy bee on busy bee day. Exactly like the incredible bastard Soares like to frieze. See the before “Gee” article and than confirm how I am may be over-thinking things. And than, I am convinced, even YOU agree with the fact that I should stop my FREIGHT and start seeking (the “Good laugh article”) some honey elsewhere.

Five year jail sentence for former president Calderon. A judge has sentenced former Costa Rican president Rafael Calderon to five years in jail for corruption. Calderon is the first former head of state to be tried for corruption in the country. AFP - A judge Monday sentenced former Costa Rican president Rafael Calderon, the first former head of state tried for corruption here, to five years in jail, likely shooting down his plans to seek reelection. Calderon, leader of the opposition Social Christian Unity Party who was president from 1990-1994, maintains he is innocent, and had planned to stand for president again in the February 2010 election. After an 11-month trial, Judge Alejandro Lopez McAdam sentenced Calderon to five years behind bars for embezzlement, but rejected the prosecutor's call for Calderon to be detained immediately pending his expected appeals. The court also handed down jail terms to another seven people charged with taking kickbacks for the purchase of almost 40 million dollars in medical equipment by the state health care system from Finnish firm Instrumentarium Medko Medical. Calderon and his co-accused also were ordered to pay the equivalent of almost 700,000 dollars in damages to the state, said another judge in the case, Franz Paniagua. Prosecutors had sought 24 years in jail for the former president. Calderon spent five months in detention when the scandal broke out in 2004. Both Calderon and the former health care director Eliseo Vargas were handed five-year terms for embezzlement.

Robert Zoellick, President, World Bank. FRIDAY 02 OCTOBER 2009. At the World Bank and International Monetary Fund Annual Meetings that took place this week end in Istanbul, Turkey, Robert Zoellick, President of the World Bank, discussed the necessary steps to follow-up the road to recovery, after the worst recession since the Great Depression.

Telenor and Alfa Group strike Vimpelcom deal. October 5 2009 20:37. A corporate battle that has blighted Russia’s investment climate for years took a big step towards resolution on Monday whenTelenor, the Norwegian telecoms operator, and its Russian partner, Alfa Group, said they would merge their Russian and Ukrainian holdings. The deal would merge Vimpelcom, Russia’s number two mobile operator, with Ukraine’s Kyivstar to create a new New York-listed entity worth more than $23bn. But Telenor and Alfa warned a great deal still had to be done to remove outstanding disputes, including a legal threat to Telenor’s strategic 29.9 per cent stake in Vimpelcom, before the deal could be closed as planned in the second quarter of next year. The two partners have been locked in battle ever since Vimpelcom moved to expand into Ukraine in 2004, sparking a series of legal disputes from Siberia to New York over the company’s strategy. The standoff caused fears over the safety offoreign investments in Russia fafter a Siberian court in March ruled to freeze Telenor’s stake in Vimpelcom in preparation for forced sale to pay off a $1.7bn court fine. The ruling was based on a claim filed by Farimex, a minority shareholder, claiming that Telenor had blocked Vimpelcom’s expansion in Ukraine. Telenor had claimed the suit was part of an attempt by Alfa to raise the pressure for a deal. Alfa had always denied any connection to the case. Telenor and Alfa said in a statement that both sides “have agreed to suspend all their ongoing legal proceedings and take action to withdraw or settle them prior to the transaction being completed”. But the definition of what that might mean for the Farimex case still seemed to be in dispute. The deal comes just one week after Jon Frederik Baksaas, Telenor’s chief executive, met Vladimir Putin, the Russian prime minister, at a lunch that was also attended by other businessmenand sent the shares sharply higher. On Monday afternoon they were 12.6 per cent higher at SKr71.55. A merger of the two companies’ holdings had long been the expected outcome of the battle which began in 2004 over Vimpelcom’s expansion strategy into Ukraine. But the battle reached fever pitch this year after a Siberian court ruled to freeze Telenor’s strategic 30 per cent stake in Vimpelcom, a move that Telenor claimed was an attempt by Alfa to “steal” its stake and raise the pressure for a deal. The Siberian court ruling came as a result of a claim made by an obscure minority shareholder in Vimpelcom which claimed Telenor had blocked Vimpelcom’s expansion into Ukraine. Alfa Group, controlled by Russian billionaire Mikhail Fridman, had insisted it had nothing to do with the case. However, now the company says an end to the case is a condition for the deal. The stake had been frozen in preparation for a forced sale of the Telenor stake in order to pay off a $1.7bn court fine. The Siberian court had repeatedly postponed hearings on Telenor’s appeal, while Russian bailiffs had repeatedly threatened to sell the stake off in the near future. Telenor fought back, winning a contempt of court ruling against Alfa in a New York court for failing to comply with an earlier ruling that it divest itself of its assets in Ukraine. Telenor said in a statement that both sides had agreed to suspend the legal battles. “The parties have agreed to suspend all their ongoing legal proceedings and take action to withdraw or settle them prior to the transaction being completed,” said Telenor. “We have turned a five-year struggle into an exciting venture for the future,” said Telenor’s Mr Baksaas in a statement. Telenor currently holds 30 per cent of the votes in Vimpelcom, while Alfa has 44 per cent of voting stock. Alfa has 43 per cent of Kyivstar and Telenor 56.5 per cent of the Ukrainian company. Current minority shareholders in Vimpelcom, which is also listed in New York, would be offered one depositary receipt in the new entity for each Vimpelcom depositary receipt currently held, or be bought out for 0.05 kopecks per depositary receipt. The two sides said they would set up a new corporate structure that would help eliminate future disagreements over strategy, an announcement that sounded similar to a peace deal Alfa reached with BP, the UK oil giant, following a bruising battle over control of their TNK-BP joint oil venture. The new company’s board will have nine members with Telenor and Alfa nominating three each.

France Telecom executive quits over suicides. October 5 2009 12:24. France Telecom replaced its senior manager in charge of French operations as it sought to contain a crisis of confidence triggered by a spate of suicides among employees. Louis-Pierre Wenes, a former management consultant who, as deputy chief executive for, led France Telecom’s drive to cut costs in its domestic business, was replaced with immediate effect by Stéphane Richard. Mr Richard joined France Telecomin September as the designated successor of Didier Lombard, chief executive, in 2011. In the meantime, he was supposed to oversee the group’s international operations. Mr Richard, a former chief of staff to the finance minister and friend of Nicolas Sarkozy, the French president, will now be at the forefront of the company’s efforts to regain the confidence of its employees, 24 of whom have committed suicide since the beginning of 2008. The company – 27 per cent owned by the French state – said Mr Wenes’ departure came at his own request. Nevertheless, it is a concession to the unions who had demanded his sacking and suggests Mr Lombard has made it a priority to work with them. The management changes came the day before two days of planned industrial action by staff in protest at the company’s perceived mishandling of the suicides. Patrice Diochet of the CFTC union said: “We’ve succeeded”. He called the change “the first measure to demonstrate France Telecom’s way of thinking and its willingness to change the way the business is managed”. The company is expected to announce a second concession on Tuesday, extending a temporary moratorium on compulsory staff reassignments until the end of the year. The unions said Mr Wenes, who spent much of his career at consultants AT Kearney, embodied an aggressive and harsh management culture at the top of the company. They maintain that cost-cutting, constant reorganisation, forced mobility, demanding individual performance targets and insensitive management had demoralised employees and pushed the more vulnerable to desperate acts. Mr Wenes’ departure will help to shore up Mr Lombard. By putting Mr Richard in charge of domestic operations – where he will play a central role in reviewing management practices and regaining the confidence of staff – it is harder for Mr Lombard’s critics to ask for his immediate replacement for the sake of a clear slate. However, Mr Richard’s move to the centre of the company’s operations means he may not have to wait until 2011 to take over as chief executive.

‘Hedge Funds’ voltam à ribalta. 06/10/09 00:05. António Borges, presidente do Hegde Fund Standards Board, defende a indústria dos fundos de alternativos e crítica o excesso de regulação sobre o sector. Culpados, não. Os ‘hedge funds' são vítimas da crise e mais: são uma boa estratégia de saída da mesma. Contra os ataques de alguns responsáveis políticos, que atribuem a estes fundos a responsabilidade pela origem da crise, António Borges assume-se como porta-voz da indústria e defende-se. Em entrevista ao Diário Económico, não só afirma que "esta indústria não esteve na origem" da crise, como diz que "foi aliás vítima da crise" e adianta mesmo que "é agora o instrumento natural" para sair dela. "A grande especialidade dos ‘hedge funds' é estar em segmentos do mercado onde não está mais ninguém, em particular, aqueles onde há riscos mais elevados. Tomam riscos que outros actores não estão dispostos a tomar", defende. Explica que "isto é particularmente útil num momento como o actual, em que há muitas instituições que estão expostas de forma inaceitável e querem desfazer-se desses riscos. Os ‘hedge funds' acabam por ser o instrumento natural para resolver o problema. Sobretudo quando muitas das medidas em prática para resolver os problemas da banca passam por transferir o risco para outros investidores".

O ex-chefe de Estado enalteceu hoje a solidez do regime que "é liberdade, é tolerante e é democracia", durante a apresentação do livro "A Maçonaria e a Implantação da República". Matt Lucas's former partner Kevin McGee found hanged. October 6, 2009. The former civil partner of Matt Lucas, the comedian behind Little Britain, has been found dead after posting a desperate message on the social networking site Facebook. Police in Edinburgh broke into the flat of Kevin McGee, 32, at 8am yesterday after being alerted by his friends. They found him hanged. Three hours earlier Mr McGee, a television producer, had posted a message on Facebook saying: “Kevin McGee thinks that death is much better than life”. A spokesman for Lothian and Borders Police said that there were no suspicious circumstances and that a file was being prepared for the coroner. Lucas, 35, was said to have been “utterly destroyed” by the news. The comedian is currently starring in the West End play Prick Up Your Ears . He plays Kenneth Halliwell, who committed suicide after murdering his lover Joe Orton, the playwright. A friend of Lucas told The Sun newspaper: “Matt was floored when he heard the news. He always loved Kevin, despite their differences and their difficult marriage.” They met in 2002 when McGee worked for Comic Relief and before Lucas found fame with his sketch show Little Britain. They tied the knot in a civil partnership ceremony at a register office three years ago and celebrated with a spectacular panto-themed wedding reception with a star-studded guest list, including Elton John and Paul O’Grady. They split up in September last year after going through a rocky 18 months together. The partnership was officially dissolved in January. At the time, people said that the couple had grown apart. In the intervening years Lucas had become a star, and while he filmed Little Britain in America they did not spend enough time together. The comedian hired Mishcon de Reya, the law firm used by the late Diana, Princess of Wales, and Heather Mills for their divorces, to arrange a settlement. They were one of the first high-profile couples to end a civil partnership since new laws allowing same-sex unions came into force in December 2005. Notoriously publicity shy, they signed a legal agreement not to discuss their relationship in public and turned down offers from magazines wanting to photograph their wedding. In an interview with The Times in June , Lucas confessed that he still felt “very protective” towards his former partner. He also said that he had started another relationship but refused to divulge any information. Last month, he told the Evening Standard that the break-up had been tough. “Time is a great healer,” he said. “We have an agreement we both honour that we won't discuss the circumstances surrounding it. But I’m OK.” A neighbour of Mr McGee said that he had not appeared suicidal. The neighbour said: “A month ago he got a labrador puppy. He seemed a nice guy with no signs of obvious problems. He never mentioned Matt Lucas.”

Gazprom consigue vía libre para vender luz en España. Publicado el 06-10-2009 , por Expansión. El gigante ruso de la energía considera la Península Ibérica una asignatura pendiente dentro de sus ambiciones en Europa. El Ministerio de Industria, Turismo y Comercio ha autorizado al gigante de energía ruso Gazprom a comercializar electricidad en todo el ámbito nacional a través de la filial Gazprom Marketing & Trading. La Dirección General de Política Energética y Minas, dependiente del departamento que dirige Miguel Sebastián, ha cursado la autorización y ha procedido a la inscripción administrativa definitiva de la nueva comercializadora, según constaba ayer en el Boletín Oficial del Estado (BOE). La nueva comercializadora, con sede en Londres, tiene un mes de plazo para hacer uso de su licencia para comercializar energía. Contra la resolución publicada ayer cabe recurso de alzada ante el Ministerio de Industria.El grupo ruso está especializado en la exploración, producción, transporte y almacenamiento de gas, pero también dispone de un área de negocio de generación y comercialización de energía eléctrica. Tras el mercado español Gazprom lleva sondeando desde hace meses diversas posibilidades en España. De hecho, fue uno de los grupos a los que señalaron todas las quinielas cuando Sacyr sondeó diversas alternativas el año pasado para vender su 20% en Repsol. En marzo de 2009, en plena visita del presidente ruso, Dimitri Medvédev, a España, Gazprom y Gas Natural anunciaron el reforzamiento de los acuerdos previos de compraventa de gas natural licuado (GNL), que se remontaban a julio de 2008. Gazprom añadió la posibilidad de comprar las centrales de ciclo combinado que Gas Natural tiene que vender por imperativo legal tras su fusión con Fenosa. GDF Suez Por otra parte, la participación del 6,18% de GDF Suez en Gas Natural es “estratégica” y tiene vocación de permanencia, indicaron a Europa Press en fuentes del grupo energético francés, cuya participada Suez Environnement vendió la pasada semana casi todas sus acciones en la gasista española. “Estamos satisfechos con nuestra participación y no tenemos intención de modificarla, ni al alza ni a la baja”, señalaron las fuentes. Por su parte, Gas Natural se ha adjudicado, por 6,6 millones de euros, el contrato de suministro eléctrico de todas las instalaciones del Ayuntamiento de Pamplona. Llega un gigante Liberalización. En julio de este año, se dio un paso más en la apertura del mercado eléctrico. Todos los usuarios con potencias de 10 kilovatios o menos pueden contratar libremente una comercializadora. Objetivo ruso El interés de los grupos rusos como Gazprom por el mercado español creció a raíz del intento de venta del 20% de Repsol por parte de Sacyr durante el año pasado. Conexión con el Gas Gazprom mantenía desde hace un año acuerdos con Gas Natural en gas licuado. La alianza podría ser ampliada a centrales eléctricas.

Inquest hears laughter seconds before fatal helicopter crash. Published Date: 05 October 2009. An inquest has heard a recording of a helicopter crew laughing and joking just moments before a crash in which three of them died. The audio clip was played to Harrogate Magistrates' Court yesterday, the opening day of the inquest into the deaths of Flight Lieutenant David Sale, 28, Sergeant Phillip Burfoot, 27, and 17-year-old Army recruit Private Sean Tait. The 12 men on board could be heard whooping and laughing as the Puma helicopter flew low over land near Catterick Garrison, North Yorkshire, on August 8, 2007.

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