Fisher Capital Management- Financial Market August 2010

Fisher Capital Management- Financial Markets: Sentiment in the financial markets has improved over the past month. The global economic recovery is continuing, so far there have been no sovereign debt defaults, and there has been a modest recovery in the euro. Investors and traders therefore appear to have concluded that the gloom was overdone.

But there has been evidence of a worsening situation in Spain, and the decision by the Chinese authorities to adopt a “more flexible” towards renminbi has also raised some concerns about the growth prospects for the Chinese economy.

Fisher Capital Management- Equity Markets: All the major equity markets, and the emerging markets, have improved over the past month. Wall Street has outperformed markets elsewhere because of some welcome economic data; there have been strong gains in most of the mainland European markets as the sovereign debt crisis has appeared to ease; the UK market has welcomed the measures by the new coalition government to address the problems of the huge UK fiscal deficit; and the Japanese market has also moved slightly higher. Corporate results have been satisfactory; and this has helped to improve sentiment

amongst investors.

Government Bond Markets have had another unusual month. The sovereign debt crisis might have been expected to lead to a general weakness in bond markets; but the main effect has been to produce aggressive switching for the “weaker” markets to the “stronger” ones, and a further widening of the yield curve.

As a result the major markets are unchanged or only slightly lower at a time when the “weaker” markets, especially in Southern Europe, have continued their sharp declines. Slow economic growth and

Low short-term interest rates are continuing to provide support. Currencies: The improvement in sentiment in the markets has led to a movement of funds out of the “safe havens” of the dollar and the yen into commodity-related currencies and “riskier” assets. Both the dollar and the yen are therefore slightly weaker over the

Month; and this movement has also eased some of the pressure on the euro, and allowed it to recover.

Sterling has also improved as the markets have welcomed the measures introduced by the new UK government to reduce the fiscal deficit.

Fisher Capital Management- Short-Term Interest Rates: There have been no changes in short term interest rates over the past month in the major financial markets.

Fisher Capital Management- Commodity markets: have produced a mixed performance over the past month, with some weakness in base metal prices, but strong gains in the prices of cocoa, coffee, oil and precious metals.

How to avoid Engineering Scholarship Scams

Fisher Capital Equipment Tips - Construction Project Management and Civil Engineering Careers. Civil Engineer site - How to avoid Engineering Scholarship Scams

Student or parents needs to be able to recognize the scholarship fraud profile. Following are top 10 Scholarship Scams.

1. The free seminar scam. Overwhelmed by all the information out there? Want to make the best financial aid decisions for you or your child? Often a free financial aid seminar is no more than a “come-on” for insurance sales pitches, matching services or investment products.

Signs that should make the warning bells go off: Are they using the hard sell? Sign-up today or the price shoots up tomorrow? Can only answer certain questions after you pay their fee? Wants your credit card information to “hold” a scholarship for you? Your ears should be ringing by now.

Remember, if you receive help from a consultant, he or she must sign the Free Application for Federal Student Aid (FAFSA). If the seminar sales rep refuses to do so, it is another alarm bell. And never let a company consultant suggest that you adjust your income on the FAFSA in order to receive more aid. It’s unethical (a crime even). And it can backfire, big time.

2. Scholarships for profit. Scholarships are designed for many purposes—recruit talented athletes, assist low income applicants, encourage study in an academic discipline, promote campus diversity, attract the best students—but profit should never be one of them. Scammers that award modest scholarships of $1,000 (or no scholarship at all) can collect many times over that amount in fees by attracting thousands of applicants. You may only be out the 15 bucks or so, but multiple that by 1,000 scholarship hopefuls just like you and you just made for a nice payday for the scholarship scam artist. Being denied such a scholarship does not make you undeserving—but just one more scammed applicant.

3. The advance-fee loan. A low-interest loan with an upfront fee? Don’t think so, and neither should you. Legitimate lenders deduct fees from at the time disbursement checks are issue; they do not charge fees before paying out the loan to a borrower. Be wary of any lender that asks for money upfront—that is a loan that will likely never materialize.

4. Your Financial Aid Office. Huh? Your college Financial Aid Office is a credible and free resource for education funding. But beware; the Education Department recently banned the practice of lenders offering financial incentives to universities that recommend their service as a preferred lender (the university often receiving a “cut” for the loan). The move was prompted by investigations showing that some university officials accepted gifts, payments or stock on favorable terms in exchange for such practices. In other instances, marketing representatives for lenders staffed phones at student aid offices. In an $85 billion student loan industry, you have to ask yourself if your university steered you to the lender with the best rate available, or simply the one lining their pockets. Ouch.

5. The guaranteed matching service. If Match.com can’t guarantee you Prince Charming and firmer abs, scholarship matching services cannot guarantee you money in the bank. Matching services that promise guaranteed matching sources for a processing fee of $49.95 (and much higher) will at best provide you with information available for free on the web. Take note that these services often inflate their database when an individual sponsor offers hundreds of scholarships.

The Better Business Bureau (BBB) reports that many of the sources provided by scholarship matching services are inaccurate and “few, if any at all, receive the actual funds”. The BBB adds that information provided is often out of date, providing sources for deadlines that have long passed. And never mind that money-back guarantee—it comes with more hoops to jump through than any dog-and-pony show you could ever imagine.

6. Linked products. Don’t let any sales person ever convince you that a financial product, such as student life insurance, or an annuity, must be purchased to qualify for federal student financial aid. It just isn’t so. And it is a sure fire scam.

7. The telemarketer. Telemarketing was once the biggest bugaboos of scholarship fraud when the FTC first addressed scholarship scams in the 90s. Attention more recently has shifted to bogus financial aid and scholarship seminars, and deceptive practices among consultants. That does not mean that telemarketing scams still do not surface. The U.S. Department of Education warned consumers recently about telemarketing scammers posing as U.S. Department of Education (ED) officers offering grants to students for a $249 processing fee (by requesting a bank or credit card number). Contact the DOE’s Office of Inspector General at

1-800-MIS-USED begin_of_the_skype_highlighting,

1-800-MIS-USED end_of_the_skype_highlighting

(1-800-647-8733 begin_of_the_skype_highlighting,

1-800-647-8733 end_of_the_skype_highlighting) or oig.hotline@ed.gov to learn more.

8. Guaranteed financial aid consultants. What can you expect for your fee from a financial aid consultant? Help completing the FAFSA, estimating your expected family contribution (EFC), and advising you or child on types of aid. Information and assistance that is readily available and free from a financial aid office at any university, your local library, on the web, or from a high school guidance counselor. So what is free, free, free information worth to you? Plenty, if you pay fees to a financial aid consultant to get it.

Some may want the handholding of a consultant regardless. Then be aware of deceptive claims that should send you looking for help from other sources. A financial aid consultant may guarantee a minimum $2,500 in aid or promise to refund your money. That’s nice, but misleading. Yes, you will no doubt receive that $2,500 student loan, but then so will every applicant who completes the FAFSA (free and on the web at www.fafsa.ed.gov). A federal entitlement available simply by completing the FAFSA should not be misrepresented or misconstrued as aid a consulting company can uniquely guarantee you as an enticement.

Likewise, if a consulting service guarantees you will receive every last penny to ship your child off to school (or your money back), you should not be fooled. You guessed it, another federal entitlement that is a byproduct of completing the FAFSA. That and a decent credit rating will earn you a PLUS loan for 100 percent of the total cost of attendance for you or your child. It is just good sense to steer clear of any company that entices clientele with benefits that are freely available to all students completing the FAFSA (whether they pay pricey consulting fees or not) as a federal entitlement.

Remember, if a consulting agency is completing a FAFSA (or any other form) on your behalf, review, sign it, and mail it yourself. You should maintain copies of the completed FAFSA and expect a refund if it is incorrect. And always agree to a flat fee for financial aid consulting services, never a percentage of aid received. Qualifications to consider when screening potential financial aid consultants include whether the consultant has experience at a financial aid office and is a Certified Public Accountant. Never be hesitant to ask for references.

9. The sweepstakes scholarship. Lucky you! You have just been selected as a finalist to win a scholarship in a sweepstakes that you never entered. (And you thought you never won anything.) The only obstacle standing between you and collecting your winnings is paying the redemption fee. Be wary of contests, websites and scholarships that collect personal data, payout a single dollar-amount (play the lottery today?) and repay the kindness with a barrage of advertisements. Which brings us to our next popular scam tactic.

10. The redemption fee. Common catchphrases by the scammer are disbursement fee, redemption fee, or processing fee. Notice the common denominator here? Legitimate scholarships do not ask a student to pay for an award. Be wary of any money awarded to you out of the blue that comes with strings, especially those with strings attached to your pocketbook.

Fisher Capital Management: Government Bond Markets Global Outlook Part2

 Fisher Capital Management: Government Bond Markets Global Outlook Part 2 - Our position remains unchanged; any existing exposure to bonds should be further reduced in favor of US & Euro equities.

The European Central Bank appears to share this view, although it has warned that the recovery “is likely to remain uneven”, and has kept short-term rates at very low levels. The bond markets have therefore continued to receive considerable support from the economic background and the actions of the central bank.

Fisher Capital Management Seoul, South Korea: However, these factors have been much less important than the fears about the debt problems in Greece and in other weaker members of the euro-zone. After considerable prevarication, due primarily to strong German opposition to a bail-out; an agreement has been reached amongst the member countries that, in conjunction with the IMF, they will provide support for Greece if this becomes necessary to prevent a defaulton its sovereign debts.

But the details of the agreement are very vague, and there is certainly no guarantee that the country can carry out its promises to introduce significant reductions in spending levels to reduce the size of its debts. The agreement has helped the country to issue a further ¤5 billion bond; but it was forced to offer an interest rate of 5.9% on a seven-year bond, 325 basis points above the equivalent German bund, and that issue has subsequently moved to a substantial discount. Conditions have also been made worse by the downgrade in Portugal’s credit rating, and so the pressures on the bond markets are continuing.

Fisher Capital Management Seoul, South Korea: The gilt edged market has coped fairly well so far with the latest weakness in the bond market, an inadequate response in the latest Budget to the debt problems in the UK, and a warning from the Fitch rating agency that the government’s timetable for reducing the fiscal deficit was “frankly too slow”, and that the country’s credit rating was at risk. The economic recovery remains very slow, and the Bank of England is holding short-term interest rates close to zero, so the market is receiving some support; but in all the circumstances it is perhaps surprising that it has managed to perform so well.

Fisher Capital Management Seoul, South Korea: The economic background in the UK remains depressed, but is slowly improving. Retail sales bounced back strongly; the public sector continued its recruitment programmed; and there has been a pickup in activity in both the manufacturing and service sectors of the economy.

It was not surprising therefore that the Bank of England kept short-term interest rates unchanged at the latest meeting of its Monetary Policy Committee and even suggested that it would be prepared to reactivate its quantitative easing programmed if this proved to be necessary. But this may not be enough to sustain gilt edged prices at current levels.

Fisher Capital Management Seoul, South Korea: The latest Budget statement is forecasting a slightly lower fiscal deficit of £167 billion in the 2009/10 fiscal year, and a halving of the deficit by 2013/14; but there is considerable skepticism in the markets about the growth assumptions underlying the figures, and about the willingness of the politicians to address the real problems

involved in reducing the deficit. If there is no credible plan to achieve this reduction, the country may well lose its AAA credit rating. Prospects have therefore become even more uncertain, and a move to higher yield levels seems unavoidable.

Fisher Capital Management Seoul, South Korea: The Japanese bond market is slightly weaker over the past month. It is likely that this year, for the first time, bond issuance may provide greater support for the fiscal deficit than tax revenues. This has already led to a downgrade on Japanese public debt by Standard and Poor’s, and with new bond issuance this year estimated to reach ¥44,300 billion, and to reach ¥55,300 billion by 2013, further downgrades seem likely. Japanese institutional investors are used to financing massive deficits, but it seems unlikely that deficits of this size can be adequately financed at present yield levels. Prospects for the Japanese market therefore remain unattractive.

Government Bond Markets Global Outlook Fisher Capital Management Seoul

Government Bond Markets Global Outlook Fisher Capital Management Seoul - Conditions in the government bond markets have remained very difficult over the past month, and there have been further falls in some of the minor markets, especially in the euro-zone, because of continuing fears about sovereign debt defaults. The agreement reached by the member countries of the euro-zone to combine with the IMF to provide any necessary support to enable Greece to refinance its maturing debts and avoid a default has had a poor response in the markets; but at least Greece has been able to make further bond issues; and the gilt edged market has coped fairly well so far with a disappointing Budget statement that has left any real attempt to resolve the serious UK debt problems until after the general election. But the sudden weakness in the world bond markets after a series of disappointing auctions has once again increased the tensions.

Our position remains unchanged; any existing exposure to bonds should be further reduced in favor of US & Euro equities.

Fisher Capital Management Seoul, South Korea - The global economic recovery is developing slowly, and so short-term interest rates are likely to remain at low levels for a considerable period. It is also possible that the “fudged” agreement amongst member countries of the euro-zone will provide an opportunity for the introduction of the necessary austerity measures; and that a new government will finally begin to address the debt problems in the UK. But the risks in the situation are still increasing, sovereign debt defaults may still occur, and the single currency system in the euro-zone may not be sustainable in its present form. Higher bond yields therefore appear unavoidable; prospects for all the bond markets are unattractive.

Developments in the bond market over the past month have clearly illustrated the need for caution. The US economy continues to recover. The Fed has left shortterm interest rates unchanged, and has indicated that they will remain “at exceptionally low levels for an extended period”. This tended to enhance the “safe haven” status of the US equity market for most of the past month, as conditions continued to deteriorate in other bond markets.

Fisher Capital Management Seoul, South Korea - Most of the available evidence supports the view that the economic recovery is continuing, but only at a slow pace. The unemployment rate remains close to 10%, and the housing sector is still depressed, with both new housing starts and sales of existing homes weakened still further by adverse weather conditions. However

retail sales are holding up fairly well, and manufacturers are beginning to increase capital expenditures and inventories, and so there is a general expectation that growth in the first quarter will be around a 2% annualized rate.

Fisher Capital Management Seoul, South Korea - The Fed has confirmed that its buying programmed for mortgage-backed securities has ended, and that it may be moving slowly towards re-selling some of these securities; but it seems to be in no hurry, and so both the economic background, and the position of the central bank, remain broadly supportive.

The situation facing investors in the mainland European bond markets is more serious. The economic background is improving, with the weaker euro providing considerable support in export markets, and so the area continues to move out of recession. But progress is slow, and so the European Central Bank is maintaining very low short-term interest rates, and providing support. However the massive fiscal deficits are threatening to overwhelm the bond markets and to lead to sovereign debt defaults, and so investors have continued to switch from the bonds of the weaker countries into those of the stronger countries, and have widened the yield

spreads across the markets. The latest Greek bond auctions have received only a very moderate response, and there is considerable uncertainty whether even the markets of the stronger countries are adequately discounting the risks in the situation.

Fisher Capital Management Seoul, South Korea - The available evidence on the performance of the euro-zone economy is mixed, but slightly more encouraging. The weakness in domestic demand is continuing, and retail sales volumes are disappointing in most member countries; but the manufacturing sector, especially in Germany, is much more buoyant, with exports

providing most of the momentum. The latest Ifo index of business sentiment in Germany is sharply higher, and other countries are also sharing in the improvement.

Analysts are therefore forecasting growth around the 0.5% level in the first quarter

of the year.

Fisher Capital Updates - Bechtel-Enka Completes Albanian Motorway

Fisher Capital Equipment Management News Updates - TIRANA, ALBANIA -  Bechtel and joint-venture partner Enka today completed construction on the Albanian Motorway, a 37-mile (61-km), four-lane highway that stretches from central Albania to the to Kosovo border. The motorway is now open to traffic. 

Construction Project Management and Civil Engineering Careers scams. Keep posted and don’t be a victim. 

The end of construction was marked by a ceremony to open a second tunnel bore, the final section of the motorway. Ministers of transport from Albania and Kosovo, and additional senior officials from both countries, attended the opening. Speaking on behalf of the Albanian government, Sokol Olldashi, the minister of transport and telecommunications, thanked Bechtel-Enka for its commitment and the quality of work performed during construction of the motorway.

The motorway is the central leg of a 106-mile (171-km) highway traversing the country from the Adriatic Sea to the northeastern village of Kalimash near Kosovo. The new roadway cuts travel time along the route from six to two hours, boosting coastal trade and northeast tourism. The motorway also provides a vital connection within Albania and across the region, linking markets to the Adriatic port of Durres and contributing to economic growth as Albania prepares for accession to the European Union.

The Albanian Motorway is one of the largest-ever infrastructure projects in the country and presented many engineering challenges due to complexities of the geology in the region and the fast-track construction schedule. The motorway includes a 3.4-mile (5.5-km) twin bore tunnel and 29 bridges built in a rocky, mountainous region.

During construction, the project was the largest employer in the area, with Albanians accounting for two thirds of the workforce.

Fisher Capital Equipment Management News Updates - Bechtel (BEK tl) is the world's No. 1 choice for engineering, construction, and project management. Construction Project Management and Civil Engineering Careers scams. Keep posted and don’t be a victim. 

Our diverse portfolio encompasses energy, transportation, communications, mining, oil and gas, and government services. We currently have projects in dozens of locations worldwide, from Alaska to Australia. No matter how challenging a project or how remote its location, chances are Bechtel can handle it. That's because we bring an unmatched combination of knowledge, skill, experience, and customer commitment to every job.

We have had record revenues for the past five years, and Engineering News-Record (ENR) has named Bechtel the top U.S. construction contractor for 12 straight years.

While we work for governments and commercial customers, our projects have helped grow local economies and improve the quality of life for communities and people around the world. Time and again our work has demonstrated that the only limits on human achievement are those that we place on ourselves. 

Privately owned with headquarters in San Francisco, we have offices around the world and 49,000 employees. In 2009, we had revenues of $30.8 billion and booked new work valued at $20.3 billion.

Ethics 

Bechtel's culture is grounded in integrity and respect. This means adhering to the highest standards of ethics. Our reputation as an ethical company is one of our most valuable assets. We stand by everything we do.  

Quality

At Bechtel, quality means doing the job right the first time.  We've always delivered quality work, and we are continually striving to improve our performance through Six Sigma and other initiatives.

Safety 

Bechtel has a world-class safety program, and it pays off. Nearly 90 percent of our projects complete each year without a lost-time accident. Our philosophy is simple—every accident, and therefore every injury, is preventable. 

Fisher Capital Management South Korea, Brazil’s Economy: 1st Quarter

Fisher Capital Management Seoul Korea, Brazil’s Economy - The brief recession of 2009 has given way to a robust increase in consumer demand and recovery in investment in Brazil in 2010. The economy is likely to grow 5.5% this year. GDP grew 2% year-on-year in the fourth quarter of 2009 and fell 0.2% for the whole of 2009 compared with 2008.

Fisher Capital Management South Korea Investing: - The central bank did not raise its target overnight interest rate, the so-called Selic rate, unchanged leaving it at 8.75% a year. This was expected as the presidential election is nearing. The rate fell from 13.75% to 8.75% between December 2008 and July 2009. By the year-end, the rate is expected to rise by 250 basis points to curb inflation.

Even though the US and Brazil are not as open an economy as one would believe. Trade accounts for approximately 14% for both the countries. US cotton subsidies had been a bone of contention for the two countries. The US was accused of excessive cotton subsidies by Brazil. After eight years of litigation at the World Trade Organization Brazil has won the case and Brazil’s move to raise tariffs on a wide range of American goods has a potential of starting a new front in the trade war with the US over cotton subsidies. Overall, the issue is still not blown out of proportion as the two countries are engaged on other fronts.

Fisher Capital Management Korea, Brazil’s Economy: 1st Quarter Investment - Brazil’s government announced a R$958.9bn programme of investments in infrastructure for 2011 to 2014. The program is known as the PAC 2 … the Portuguese acronym for accelerated growth programme, part two … to increase Brazil’s investment rate and its potential for economic growth during the period of the next government, which begins on January 1 2011.

Fisher Capital Management South Korea, Investment News: Henrique Meirelles who provided monetary stability to Brazil is all set to stand for election either as a Vice President or a senator. President Lula may choose him to run for the Vice President office to send a message that macroeconomic stability will be maintained under Ms Rousseff, presidential nominee of Mr. Lula’s party in the October election.

Fisher Capital is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Let us keep you informed of all the latest news and developments with our free monthly newsletter of analysis and recommendations.

Join our mailing list to recieved our free monthly Fisher Capital newsletter, with analysis of the latest financial and investment news and developmetns, plus of course our current research findings and recommendations.

Fisher Capital Management News Directory-iiii

http://www.squidoo.com/fisher-capital-management-news-directory-iiii

Written by Tim Goff

SOUTH PORTLAND, Maine (NEWS CENTER) - With gold prices at an all time high, state regulators are warning investors to beware of scam artists.

"With a really bad economic downturn, with the recession, not only does it cause the average person to become fearful, but it also causes the scam artists to come out because they know that everybody is far more vulnerable than they were before," stated Judith Shaw, administrator of the Maine Office of Securities."Anytime somebody is telling you that they can give you a high rate of return with little or no risk to you, you really need to think twice about that," she added.

In recent weeks her office has received several calls from residents concerned about transactions they have made buying and selling gold. She says many of the advertisements on the internet, radio and television make claims that are not backed-up by the companies actions.

"They send their money, there is a promise that the gold exists - maybe gold bullion - and that the seller who has reached out and made the contact will save that gold or silver in some safe location," explained Shaw. "The danger is in many cases the gold doesn't exist."

She recommends people do their business locally, because the state has regulations in place to protect consumers that may not be in place in other states where these companies are located.

"As with anything, check to see if the entity is regulated by the state of Maine and check with the appropriate agency to make sure that there are no problems, issues or bad marks as to that entity," she said. "We all have to be wise consumers, whether we are purchasing gold or some other commodity, or whether we are choosing to sell a personal possession."

At Maine Gold and Silver in South Portland, record gold prices have their showroom flooded with customers looking to sell off unwanted items, or invest in bars and coins of gold and other precious metals.

"We have a track record," explained John Colby. "Customers depend on us and we pay high prices. We have people driving 2 or 3 hours to see us."

He says gold prices fluctuate, so they use technology to give customers up to the second prices whether buying or selling.

"There is volatility," said Colby. "Right now gold has gone down about 20 bucks from its high on the day, but in the long term I think gold and silver are going much, much higher."

Shaw recommends consumers interested in selling gold or other precious metals check the price at a couple of businesses to get a better idea of the value of the item they intend to sell and find the best price.

She says people should also ask about how the metal will be weighed, the price will be determined and the quality verified.

She does not recommend people send their unwanted jewelery away in an envelope in the hopes that someone, somewhere else will give them a better price. She says it is easier to keep your money than fight to get it back.

She also says if someone is using high pressure tactics, walk away and take your business elsewhere.

If you are interested in buying gold and silver, she suggest consumers call the Maine Office of Securities at 207-624-8581 or visit their website before investing. The state maintains a database of reputable companies and can help determine if a seller is on the level.

Shaw says if you do buy gold from an out of state company, you should have the metal shipped to you and store it in a secure location like a bank's safety deposit box or vault.

She also says be aware of any fees imposed for shipping and the transaction before completing the deal.

"If it sounds too good to be true, it probably is," said Shaw. "It may sound like an old cliche, but it is absolutely right on."

NEWS CENTER

Groundbreaking on Ivanpah Solar – Fisher Capital Equipment Update

Fisher Capital Equipment Management Update- Bechtel joined BrightSource Energy today in a ceremony to mark the start of construction of the Ivanpah Solar Electric Generating System, a groundbreaking project that will usher in a new era of advanced solar power in the United States.The ceremony was held in California's Mojave Desert next to the Ivanpah site. Avoid online internet scams; get latest updates on Fisher Capital Equipment Management website.

Ian Copeland, president of Bechtel's Renewable Power business, described the significance of Ivanpah for Bechtel and the renewable power industry. California Governor Arnold Schwarzenegger, U.S. Secretary of the Interior Ken Salazar, and other state and local dignitaries also recognized the importance of Ivanpah in the evolution of renewable energy. 

ABOUT IVANPAH. Bechtel is partnering with BrightSource Energy on one of the most important projects yet in renewable energy.

The Ivanpah Solar Electric Generating System, in the Mojave Desert northwest of Needles, will be the first large-scale solar thermal project built in California in nearly two decades, and the largest of its kind in the world. It will generate enough electricity to power more than 140,000 homes and will nearly double the amount of commercial solar thermal electricity produced in the United States today.

Bechtel will provide engineering, procurement and construction services for Ivanpah. The company also is an equity investor in the project, underscoring its commitment to fighting climate change through renewable energy.

The complex will consist of three separate plants using use BrightSource Energy’s Luz Power Tower (LPT) technology. It will displace 400,000 tons (363,000 metric tons) of carbon dioxide emissions per year— the equivalent of taking 70,000 cars off the road— while also reducing water use 90 percent by using a closed-loop dry-cooling technology.

The three plants will have a combined capacity of around 400 megawatts of electricity, which BrightSource will provide to PG&E and Southern California Edison. Commencement of construction on the first plant was in October 2010, following permitting review by the California Energy Commission and the Department of Interior’s Bureau of Land Management. The first plant is scheduled to come online in mid-2012.

Bechtel (BEK tl) is the world's No. 1 choice for engineering, construction, and project management.

Our diverse portfolio encompasses energy, transportation, communications, mining, oil and gas, and government services. We currently have projects in dozens of locations worldwide, from Alaska to Australia. No matter how challenging a project or how remote its location, chances are Bechtel can handle it. That's because we bring an unmatched combination of knowledge, skill, experience, and customer commitment to every job.

We have had record revenues for the past five years, and Engineering News-Record (ENR) has named Bechtel the top U.S. construction contractor for 12 straight years.

While we work for governments and commercial customers, our projects have helped grow local economies and improve the quality of life for communities and people around the world. Time and again our work has demonstrated that the only limits on human achievement are those that we place on ourselves. 

Privately owned with headquarters in San Francisco, we have offices around the world and 49,000 employees. In 2009, we had revenues of $30.8 billion and booked new work valued at $20.3 billion.

China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea

Fisher Capital Management Seoul Korea - April is going to set the tone for the world economy depending on how China is labeled by the US and China’s reaction to it. Our gut feeling is that apart from the rhetoric — which is in the air with respect to the Yuan-dollar rates, China’s current account surplus and internet independence — neither of them will rock the boat.

Already five prominent members of the G20 — South Korea, Canada, France, the US and the UK — have sent a coded warning to China against reneging on economic agreements. Perception of China and the US in international relations is far apart.

According to China, the main issues are Taiwan and the sale of arms to Tibet and for the US the issues are the Yuan-dollar rate, trade surplus and Internet freedom.

China: Market Overview 1st Quarter 2010 Fisher Capital Management Seoul Korea - Under the Omnibus Trade and Competitiveness Act of 1988, the U.S. government is to decide whether to label China a “currency manipulator.” This has not been done since 1994, but if China is named, it will give the US Congress new ammunition to press for concrete action. China is asserting itself in international relations. Beijing has emerged from the global recession with a fresh confidence about its state-led economy, which has delivered stimulus projects from high-speed railways to highways and bridges with remarkable efficiency. And it is in no mood to be lectured by Washington about how to support the world economy or to operate her own economy.

China’s economic growth will be around 10% in 2010 following strong industrial output growth in coming months. Inflation may rise to 3.5–4% in 2010. The government’s target of inflation is 3%. But, China has hidden debt risk among Chinese local government investment companies. Official estimates of the total outstanding loan balance for such investment entities exceed Rmb 6,000bn — or roughly 20% of GDP — a figure that may be an underestimate.

China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea - Undervaluation of the Yuan is taken for granted and is estimated to be in the range of 30–40%. The US administration believes that the Yuan’s appreciation will not only solve the trade deficit problem between the US and China but also the US unemployment.

Beijing’s position is that China’s currency policy isn’t the cause of the U.S.’s economic problems, and that China wouldn’t adjust its currency rate under outside pressure. “The Chinese government will only make the decision according to the national condition and the country’s development level,” according the Chinese President Wen. China believes that a surge in the Yuan could destabilize the global economy, hitting developing nations especially hard and even perhaps causing the value of the dollar to plunge.

The World Bank forecasts that China’s current-account surplus, the broadest measure of its trade position, will rise this year to $304 billion, after dropping to $284.1 billion in 2009 from a record $426.1 billion in 2008.

Fisher Capital is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Fisher Capital Management News: Scams artists go digital with latest attack

http://mgmtnews.fishercapitalmanagementnews.com/2011/09/fisher-capital-management-news/

http://www.ourmidland.com/news/article_c0a1e3b2-d766-11e0-84cc-001cc4c03286.html

By Emma Johnson for the Midland Daily News

Recently Dave Hunt of Midland was sent an email asking that money be sent to help a friend who suffered a setback while traveling in London. The email was convincing; but then he found out that the friend, Sharron Such, of Edenville Township, had never left town.

Hunt says what made it so convincing was that he compared the message’s email address to Sharron’s email in his address book and they matched up. The email was also signed Sharron with two ‘R’s instead of one, an uncommon spelling.

What tipped him off?

Hunt says the first thing that put up a red flag for him was that the email started out with “Hi,” and he thought it odd that Sharron didn’t use his name in the greeting.

“I sent her a reply – which she never got,” said Hunt. “I asked three personal questions only she would know.” From his obscure questions Hunt, predictably, never got a response.

Hunt called the police, but they said they only deal with cases where people have been scammed and money has been exchanged.

Hunt called other people on a church committee Sharron and he are both on and the other committee members had also received the email.

Since this happened, Hunt said he’s heard many stories from other people about scam emails.

Hunt says it’s frustrating, though. In real life, another person he’s friends with was in Paris and her wallet was stolen. Luckily her husband had charge cards to get them back home. “So, it happens,” Hunt said. “You want to help – if it’s legitimate.”

Sharron Such found out her email had been hacked when she was contacted by an organization she’s involved with that knew she wasn’t gone.

“I felt violated,” said Such.

Such contacted Yahoo within 36 or 48 hours and they recovered her account. According to Such, if Yahoo is notified more than 24 hours after the fact it makes it harder for them to recover the account, but they can still do it.

When Such was able to access her email again she changed her password.

She received emails and voice messages from people – including a friend from London – who said they believed she’d been scammed, and people who were skeptical but wanted to investigate in case she really did need help. In some emails her name was spelled with one ‘R’ instead of two, which clued people in. However, a quote in the signature of her emails “made some people think twice,” said Such.

Sharron’s husband, George Such, recorded a message on their answering machine to let people know Sharron was not stranded in London. “My wife is safe and sound,” the message went, “but if you want you’re welcome to send us money!” he joked.

Such contacted the FBI, but they said it’s just people sitting in a room trying different passwords until they get one and there wasn’t much they could do.

“It made for an interesting day,” said Such. “Anything I was planning on getting done that day didn’t get done.”

Such said no one sent money to her knowledge.

Henry Dufour, a technician at Compucom in Midland, says he hears about email scams from people every day.

Many emails are marked as spam, but then thieves make up new scams to try to bypass the filters. Besides the London scam, Dufour says a new one is making an email that looks like a Facebook notification.

Dufour says if something in the address doesn’t seem right or a graphic looks outdated, or it just doesn’t look right then he recommends visiting the site directly instead of clicking the link.

“Always confirm,” Dufour stressed.

Don’t open emails if your intuition tells you not to. Durfour say some scammers have technology that can generate a “message read” notice so they know if they’re reaching a real email address.

Dufour also warns about looking at private information using public Wi-Fi. He says if you check web-based email or Facebook you sign in on a secured site (https), but after it’s authenticated with your correct username and password, you go to an unsecured site (http). Hackers can use sniffing software to find you. “Once you’re in it’s all open,” he said. Especially not recommended is online banking using a hotspot.

Also make sure if you’re using wireless internet at home that it’s encrypted because stumbling software can pick up what’s available. “You’d be amazed at what’s open,” he said.

On websites that you log into, don’t tell your browser to remember passwords and make sure to sign out. Also, use different passwords. If someone breaks into one thing, they will use that password to try to break into other things. When selecting a password, don’t use a word followed by the number one. Dufour says that’s easy to figure out. Make complicated passwords by using unique numbers, symbols, and upper and lowercase letters.

Staying current with good anti-virus software and updating to the latest browsers that have closed up security issues is also a good idea, according to Dufour.

Fisher Capital Management News Directory:Who Will Replace The FSA?

http://fishercapitalmanagementnews.com/2011/07/fisher-capital-management-news-directorywho-will-replace-the-fsa/

http://www.fool.co.uk/news/investing/2011/07/05/who-will-replace-the-fsa.aspx

Published in Investing on 5 July 2011

And what could it mean for investors?

The UK’s banking regulation is at the forefront of political attention once again, as the Chancellor, George Osborne, is in pow-wow with a Treasury Select Committee to progress the government’s regulatory plans.

As we know only too well, the Financial Services Authority (FSA) took some of the rap for the string of banking failures that came close to collapsing the entire Western world’s banking system. And when it came to analysing the reasons for the failure of the current regulatory regime, the government decided it needed a scapegoat — er, I mean, needed to restructure the FSA to ensure that such a thing can never happen again.

The key failure was seen as a lax approach to regulating the banks themselves, leaving it pretty much up to them to work our whether their practices and investment products made good sense, rather than having the FSA’s people closely scrutinise every new chopped and diced sub-prime mortgage-based derivative that each bank happened to think was their latest and greatest hot cake.

As we now know, this self-regulation actually amounted to no real regulation at all, and the real estate derivative bubble was based on little more than lots of poor people who couldn’t pay their mortgages. And subsequent debts upon debts based on the back of it all turned out bad.

The new banking regulator

So that’s the bit that’s being taken away from the FSA, regulation of the banking and finance industry, and it’s being handed to a new body called the Prudential Regulation Authority(PRA). Well, I say new body, but it will comprise around 25% of the FSA’s current people, so really it’s a bit of the same old body but with a new name.

Though to be fair, it will have a new directive too, to regulate in a more direct hands-on manner. And having an organisation with just one prime responsibility should hopefully result in better focus.

The PRA will be directly responsible to the Bank of England and will be chaired by Mervyn King, with Hector Sants taking on the role of chief executive. It will approach its responsibilities in several ways.

There will be new regulations covering capital structures and liquidity, which should hopefully rein in excessive leverage and strengthen the banks’ ability to withstand the kind of capital withdrawal that brought down Northern Rock.

And there are going to be more direct supervisory actions, and a better focus on handling crises when they do happen — the PRA won’t be trying to totally prevent failures, but to put in place better procedures for minimizing the pain when they do happen.

What’s left becomes the FCA

The other new body, which really is just what’s left of the FSA with a new name, is to be called the Financial Conduct Authority (FCA). And it will carry on with the same business of investigating fraud and tackling boiler room scammers and all the other assorted crooks who spend their days trying to part honest folk from their hard-earned savings.

Essentially it’s going to be business as usual at the FCA, but there is expected to be more of a forthright and pro-active culture — and that’s something we’ve already been seeing from the last days of the FSA in its current form, in the welcome shape of new records in fines and imprisonment.

There is one new power to be wielded by the FCA, and that is to oversee and promote choice and competition in the financial product market. To that end, the FCA will be able to examine the design of such products and place its own requirements on them, and restrict the sales and promotions of any that it deems inappropriate — having both temporary bans and permanent bans amongst its chief weaponry.


Of course, this all has to go through the usual parliamentary procedures before it comes into effect, and there are likely to be various tweaks, but it’s unlikely there will be any major change of this plan now.

Will it all work?

The FCA’s role seems relatively uncontroversial, with it essentially carrying on with the same old FSA approach to the bad guys which we have seen does get results. There will be some doubts, though, concerning its veto powers over the design of financial products, so we shall have to wait and see how effectively it flexes that particular muscle.

But the big unknown is the PRA and it’s new approach to banking regulation. While many will welcome the closer scrutiny, and while more stringent capital requirements should lower the chances of serious liquidity squeezes, a lot of people will be asking whether the new body will be any better at foreseeing looming crises than the banks themselves were.

Still, we’ll find out soon enough, when the next crisis hits.