Friday, October 12, 2012
Greece's biggest company is leaving the country, drinks bottler Coca Cola Hellenic (CCH) said on Thursday in announcing it will move to Switzerland and list its shares in London, dealing a blow to the debt-crippled Greek economy.
The material impact on Greece may be limited — its Greek plants will go on working and CCH said the five percent of its business that the world's second-ranked Coke bottler has in Greece will be unaffected. But analysts quickly saw it as bad news for a nation struggling to compete inside the euro zone.
CCH, which already has secondary stock market listings in London and New York [CCH 21.70 1.25 (+6.11%) ], said in a bourse filing in Athens that shareholders, most of whom are abroad, will exchange all their stock for shares in Coca Cola HBC, based in Switzerland. That stock will have its primary quote in London [CCB.L 14.90 --- UNCH ]."A primary listing on Europe's biggest and most liquid stock exchange reflects better the international character of Coca Cola Hellenic's business activities and shareholder base," the company said in its regulatory statement.The firm, in which The Coca-Cola Company [COKE 69.46 0.19 (+0.27%) ] of the United States has a 23-percent stake, bottles Coke and other drinks in 28 countries from Russia to Nigeria. About 95 percent of its shareholders and business activity are outside Greece."This transaction makes clear business sense," chief executive Dimitris Lois told analysts in a conference call.An overwhelming majority of shareholders have already accepted moving a company which has long complained about Greek taxes.
Posted by gordon gekko at 11:14 AM
Wednesday, October 10, 2012
Posted by gordon gekko at 7:19 PM
Posted by gordon gekko at 7:13 PM
Who would believe that the unemployment rate could be "doctored"? Well, Rick Santelli predicted as such on 9/7.
Posted by gordon gekko at 11:38 AM
Tuesday, October 09, 2012
Why is Eddie in the news................
A West Palm Beach man died Friday after he won a roach-eating contest held by a reptile store in Broward County.
Edward Archbold, 32, died Friday shortly before midnight. He had collapsed in front of the Ben Siegel Reptile Store in Deerfield Beach, where he had taken part in the contest.
Archbold and several other people signed up to eat a variety of insects for a chance to win a python.
Archbold ate dozens of roaches and worms, and was declared the winner of the challenge. Shortly after the contest ended, Archbold said he wasn't feeling well and he began to vomit before collapsing.
Archbold was taken to Broward Health North, where he was pronounced dead.
None of the other contestants reported any medical issues after the contest.
Investigators are awaiting the results of the autopsy before they can determine the cause of death.
Posted by gordon gekko at 12:29 PM
Monday, October 08, 2012
As you read this, ask yourself the question who is impacted more by this unintended consequence?In an experiment apparently aimed at keeping down the cost of health-care reform, Orlando-based Darden Restaurants has stopped offering full-time schedules to many hourly workers in at least a few Olive Gardens, Red Lobsters and LongHorn Steakhouses.
Darden said the test is taking place in "a select number" of restaurants in four markets, including Central Florida, but would not give details. The company said there has been no decision made about expanding it.
In an emailed statement, Darden said staffing changes are "just one of the many things we are evaluating to help us address the cost implications health care reform will have on our business. There are still many unanswered questions regarding the health care regulations and we simply do not have enough information to make any decisions at this time."
Analysts say many other companies, including the White Castle hamburger chain, are considering employing fewer full-timers because of key features of the Affordable Care Act scheduled to go into effect in 2014. Under that law, large companies must provide affordable health to employees working an average of at least 30 hours per week.
1) A doctor
2) A NFL football player
3) A college grad paying off student loan debt
4) A NASA engineer
Posted by gordon gekko at 9:39 PM
Sunday, October 07, 2012
Just over 8.5 billion recyclable cans were sold in California last year. The number redeemed for a nickel under California's recycling law: 8.3 billion.
That's a return rate of nearly 100%.
That kind of success isn't just impressive, it's unbelievable. But the recycling rate for certain plastic containers was even higher: 104%.
California's generous recycling redemption program has led to rampant fraud. Crafty entrepreneurs are driving semi-trailers full of cans from Nevada or Arizona, which don't have deposit laws, across the border and transforming their cargo into truckfuls of nickels. In addition, recyclers inside the state are claiming redemptions for the same containers several times over, or for containers that never existed.
The illicit trade is draining the state's $1.1-billion recycling fund. Government officials recently estimated the fraud at $40 million a year, and an industry expert said it could exceed $200 million. It's one reason the strapped fund paid out $100 million more in expenses last year than it took in from deposits and other sources.
"The law says California has to make it easy to recycle … so anyone with a devious mind, it's so easy, they can just go right in," said Los Angeles County Sheriff's Deputy Dave Chapman, who has investigated fraud rings in recent months.
Under the state's 25-year-old recycling law, California charges consumers a deposit on most beverage containers sold within its borders. Anyone who brings empty containers back to one of about 2,300 privately run recycling centers can collect 5 cents for most cans and bottles and 10 cents for larger containers.
Only products sold in California are eligible. But a can is a can — and many recycling centers in California aren't that interested in where they come from.
Posted by gordon gekko at 8:12 PM
How is it that republicans are responsible for this........
The men and women of the Detroit Police Department believe the city is too dangerous to enter, and they want citizens to know it.
Detroit Police Officer Association (DPOA) Attorney Donato Iorio said officers are holding the “Enter At Your Own Risk” rally at 3:30 p.m. Saturday in front of Comerica Park to remind the public that the officers are overworked, understaffed, and at times, fearful for their lives.
“Detroit is America’s most violent city, its homicide rate is the highest in the country and yet the Detroit Police Department is grossly understaffed,” Iorio told WWJ’s Kathryn Larson. “The DPOA believes that there is a war in Detroit, but there should be a war on crime, not a war on its officers.”
Iorio says the once 2,000 strong force is shrinking rapidly; since the start of summer, hundreds of officers have left the department.
Posted by gordon gekko at 7:58 PM