Hat tip: wagga.
WASHINGTON (MarketWatch) -- The Treasury Department set out a roadmap on Friday on how it intends to sell its stakes in banks held in warrants. Under the government's $700 billion bank bailout, when a bank repays the government it is allowed to repurchase the warrants at a fair market price. The plan announced Friday sets out procedures for reaching an agreement on the price involving independent appraisers. If the banks choose not to repurchase the warrants, Treasury said that it will sell the warrants through an auction process over the next few months.----
Bar code met the laser scanner on Friday, June 26, at a Marsh supermarket in Troy, Ohio, according to Motorola. With the 35th anniversary, Motorola offered some bar code technology relections, since Symbol Technologies, now a part of Motorola Enterprise Mobility Solutions, was founded, in part, by Dr. Jerome Swartz, the inventor of the laser scanning device for use with bar codes.
- Without the bar code / laser scanner partnership, we'd have long lines at registers and tolls, (even more) lost baggage at the airport, and a lot of waiting for a package that may never arrive.
- Before the practical integration of bar codes and laser scanners, each company had its way of designating products, using a variety of letters, numbers or no codes at all.
- Typical error rate for human data entry is 1 error per 300 characters; with barcode scanners, the error rate can be as good as 1 error in 36 trillion characters.
- Use of the bar code ultimately resulted in significant economic and productivity gains for shoppers, retailers and manufacturers, with estimated cost savings of $17 billion in the grocery sector alone (according to GS1 US).
- UPC bar codes are scanned more than 10 billion times a day in applications spanning more than 25 industries.
Sea Launch fires satellites into space from a floating platform at sea and a land facility in Kazakhstan. Its owners include Boeing as well as Russian, Norwegian and Ukrainian partners.
June 24, 2009
Sea Launch Co., a Long Beach-based rocket venture that is 40% owned by aerospace giant Boeing Co., has filed for Bankruptcy Court protection, citing recurring losses from operations.
The unusual company, which includes Russian, Norwegian and Ukrainian partners, said lower demand for lifting commercial satellites into space and a recent inability to secure financing to pay a $52-million arbitration ruling against it led to the Chapter 11 filing.
The venture, which launches rockets at sea from a floating platform, said in a statement that it "intends to maintain all normal business operations."
"Subject to court approval, Sea Launch will initially use its cash balance to meet operational requirements during the reorganization process," it said. It has about 130 employees based in Long Beach.
In the filing, Sea Launch listed assets of up to $500 million and liabilities of more than $1 billion.
June 17 (Bloomberg) -- The cost of protecting European corporate bonds from default rose, according to traders of credit-default swaps.----
Contracts on the Markit iTraxx Crossover Index of 45 companies with mostly high-risk, high-yield credit ratings increased 8 basis points to 738, according to JPMorgan Chase & Co. prices at 7:19 a.m. in London. The index is a benchmark for the cost of protecting bonds against default and a rise indicates deterioration in the perception of credit quality; a decline signals the opposite.
The Markit iTraxx Europe index of 125 companies with investment-grade ratings rose 2 basis points to 118.5, JPMorgan show.
A basis point on a credit-default swap contract protecting 10 million euros ($13.9 million) of debt from default for five years is equivalent to 1,000 euros a year.
Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a company fail to adhere to its debt agreements.
It can't go on forever, and it won't. What will shock America into action is the prospect of fiscal collapse, which will grow more vivid each year. In 2008 federal borrowing accounted for 41% of GDP, about the postwar average. By 2019 the burden will double to 82% by the CBO's reckoning, reaching $17.3 trillion, nearly triple last year's level. By that point $1 of every six the U.S. spends will go to interest, compared with one in 12 last year. The U.S. trajectory points to the area that medieval maps labeled "Here Lie Dragons."
Tremendous home and location. Five bedrooms and five batrooms with a spectacular bonus room that includes a loft and space used for a pool table and table hockey etc. Home overlooks the lovely setting of Wrightwood's Country Club and local lake on nearly an acre of fenced level land. has been used as a vacation rental for the past five years-at $600. per night-sleeping 23 people. Includes laundry room and 2 car garage. Long driveway can fit up to 10 cars. 2 huge water heaters, 3 forced heating units and wet bar provide comfort for a large group. Intercom installed and wired for music throughout house. Home has been used in movie and commercial settings. Various movie stars have stayed in home over the years.
In Los Angeles and Ventura counties, the vacancy rate in the first quarter rose more than 50% over the previous year to more than 3% and asking rents fell from an average of $2.29 a square foot per month to $2.14, according to the real estate brokerage CB Richard Ellis Inc.THREE percent? That's just plain silly. Nevertheless the article is interesting as long as you double all the small numbers.