Yen 'unbeatable' as carry-trade gets dropped Oct 6, 2008
Bank of Tokyo- Mitsubishi UFJ Ltd, Japan's largest bank by market value, raised its forecast last week to 100 per dollar by March from 102. It predicts the yen will gain 11% versus the pound in a year. (Sydney Morning Herald -- Business)
Suncorp Shares Surge After Insurer Gets Approach to Sell Units Oct 6, 2008
65 at 2:46 p.m., increasing its market value to A$11. 6 billion ($8. (Bloomberg)
Axis to inject RM300mil assets over next two years Oct 6, 2008
5% from the market value. We have proven that Axis REIT has the capability to undertake yield accretive acquisitions in the open market. (The Star Online, Malaysia -- Business)
Panic pricing Oct 6, 2008
60 on Friday and a total market value of RM32 ... With that, Public Bank Bhd is now the countrys bank by its market value of RM35. (The Star Online, Malaysia -- Business)
In India, secularism is a way of life Oct 5, 2008
The owner gave it for less than the market value, despite higher offers. He was a Hindu. (India Times, India)
TIME WARNER: Cable subscribers make plans for Bills Oct 5, 2008
Chris Musial, president of WIVB, has said in statements posted on the station s Web site that Time Warner has refused to pay fair market value, adding contracts had been successfully reached between LIN and other cable subscribers like Verizon, Comcast, DirecTV and the DISH Network. Channel 4 News has made the ongoing dispute the subject of lead news stories, which included advice on switching to satellite cable services. (Niagara Gazette)
General Growth Properties Staggers Under Debt Load Oct 5, 2008
Even if they assumed General Growth's debt load, both companies could likely afford to buy the outfit, especially since its market value has dipped below $3 billion ... All told, General Growth's assets may be worth more than $40 billion, but frightened by its hefty debt load and the cash crunch, investors have bid its market value down to $2. (BusinessWeek)
Steve Jobs' Nine Lives Oct 5, 2008
That means $9 billion of market value evaporated in less time than it took for Dorothy to liquidate the Wicked Witch of the West with a bucket of cold water. Apple's stock snapped back as soon as an Apple spokesman emphatically denied the report. (Forbes -- Technology)
* Citigroup girds for Wachovia takeover battle Oct 5, 2008
The banks market value has dropped 38 percent this year to about US$100 billion, leaving it below Wells Fargo. If Wells Fargo winds up with Wachovia, it would creep up on its New York rival with deposits of US$787 billion, compared with Citigroups US$826 billion. (Taipei Times, Taiwan -- World)
Oligarch dumps Magna Oct 5, 2008
92, or about 6 per cent. The company, which is feeling the impact of the turmoil in the North American auto industry, has lost more than half of its market value in the past year. In disclosing the exit of Russian Machines, Magna added that the Deripaska firm will no longer be an indirect shareholder in Stronach's lucrative European consulting company. (Toronto Star)
Mitsubishi workers agree to contract Oct 5, 2008
Homes values were inflated all over the country well above the fair market value. The rest is history. (The Pantagraph newspaper)
Mortgage forgiven for woman, 90, who shot herself Oct 5, 2008
Find andover foreclosures 50% Below Market Value. Search Now. (Yahoo News)
Professional Home Decor Tips For Selling, Staying and Going Green Oct 5, 2008
Finding: More than half of homeowners (56 percent) planning to sell in the next year will complete minor to moderate renovations like painting the exterior of their house or touching up interior walls to enhance their home's market value. Tip: LaPorta emphasizes the importance of staying true to a home's architectural style when painting its exterior. (Canton Daily Ledger, IL)
EU leaders debate crisis Oct 5, 2008
He said they must revisit accounting rules including the mark-to-market procedure, by which banks declare assets based on current market value and which has been criticised for leaving them exposed to stock market variations. The French president, whose country holds the rotating presidency of the European Union, is keen to show he has spared no effort to contain the fallout from what he has called the worst financial crisis since the Great Depression. (iAfrica.com)
Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter Oct 4, 2008
CHICAGO, Oct. 3 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ), today announced that on October 1, 2008 the Nasdaq Listings Qualifications Department informed the Company that the market value of its listed securities was below $35 million for 10 consecutive days, which is the requirement for continued listing on the Nasdaq Capital Market according to Marketplace Rule 4310(c)(3)(B) ... If at anytime prior to October 31, 2008, the market value of listed securities of... (PR Newswire)
Citigroup Girds for Wachovia Takeover Battle With Wells Fargo Oct 4, 2008
The bank's market value has dropped 38 percent this year to about $100 billion, leaving it below Wells Fargo. If Wells Fargo winds up with Wachovia, it would creep up on its New York rival with deposits of $787 billion, compared with Citigroup's $826 billion. (Bloomberg)
Hypo Real Estate Rises on Report Banks, Insurers Reach Bailout Agreement Oct 4, 2008
The company has a market value of 1. 59 billion euros. (Bloomberg -- Germany)
Dahlstrom Ranch easement moves forward with Hays County vote Oct 4, 2008
The tract at the southwest corner of FM 1626 and FM 967 in Hays County spans approximately 2,400 acres, and is estimated to have a market value of approximtely $50 million, as reported by the Austin Business Journal on Dec. 14, 2007. In contributing to the easement, the Central Texas county has also become part of a partnership with the city of Austin and the Hill Country Conservancy that could point the way toward future regional collaboration on watershed issues, says Hays County Commissioner... (Austin Business Journal, TX)
CIBC's Private Bailout Oct 4, 2008
So Cerberus is paying roughly the current market value, and CIBC only has to repay the notes from the income it receives from the American homeowners whose mortgages underlie the debt in its portfolio. If they do pay up, however, Cerberus will get a return of up to 20. (Forbes -- Markets)
Economic Stabilization act full text (New version) Oct 4, 2008
(D) Characteristics and disposition of acquired assets, including type, acquisition price, current market value, sale prices and terms, and use of proceeds from sales ... (1) ELIMINATION OF INCREASED MARKET VALUE TEST- Section 45(c)(7)(A)(i) (defining refined coal), as amended by section 108, is amended ... (IV) is produced in such a manner as to result in an increase of at least 50 percent in the market value of the refined coal (excluding any increase caused by materials combined or added... (Gillette News-Record, WY)
Bank scraps federally backed deal with CITI... Oct 4, 2008
Wells Fargo's deal on Friday marked a stunning turn of fortunes for Wachovia, the nation's fourth-largest bank in market value as recently as last year ... Now, in forcing Wachovia back into play, Wells Fargo sets the stage for one of the most dramatic takeover battles in recent memory, pitting against each other the No. 3 and No. 4 U.S. banks in terms of stock-market value ... Wells Fargo's deal on Friday marked a stunning turn of fortunes for Wachovia, the nation's fourth-largest bank in... (The Drudge Report)
Google must stop snooping on us Oct 4, 2008
No, the real threat to Google s image and stupendous market value does not lie in controversies about China or starving authors. It comes from growing worries about individual privacy in the digital age, highlighted by a battle the company is fighting with the US Justice Department over access to its data. (Yahoo News -- Online Privacy)
Mayor to ask Council to OK Firehouse 5 parcel Oct 4, 2008
"We are working on an agreement to come together to the DPUC and say that ATs to sell it to the town for a public use purpose, and the town wants to buy it at a fair market value.". Funds for the construction - about $5. (East Hartford Gazette, CT)
Few complaints as reassessment notices hit mailboxes Oct 4, 2008
The assessed value of a property is used in calculating taxes and can be different than the market value ... For example, the assessed value of a $100,000 home purchased in 2006 can not increase beyond $115,000 for tax purposes, even if the market value of the home increased by a greater amount ... But if such a property has had an addition added to it, that will be assessed separately and taxed at full market value. (Orangeburg Times and Democrat, SC)
Both parties to blame for economic mess Oct 4, 2008
As a result, today institutions have to value their assets at current market value. "The market-to-market rule was established in the early 90's by George H. W. Bush's SEC chairman.Also, if you read the article carefully, you will see that it is the way these mortgages are "bundled" that creates the risk and devalues the investment, thus creating the crisis.In other words, by trying to game the system with these new investment schemes a house of cards was created which is now tumbling down.As... (Waterloo-Cedar Falls Courier)
Worry over BII buy pushes Maybank shares down Oct 4, 2008
The stock, which had been declining since the beginning of the year, had since lost about 28% in market value ... 3 times PBV against the current market value of Indonesian banking stocks of 2. (The Star Online, Malaysia)
US financial havoc may turn out to be a good thing Oct 4, 2008
Would they be valued at mark-to-market (current market value) prices or at historical prices. Would the way assets are valued make a difference in the continuing credit crisis and a probable US recession. (The Star Online, Malaysia)
Wachovia deals to ripple in ATL Oct 4, 2008
Competing Wachovia deals could shift local banking landscape. The Atlanta Journal-Constitution. (Atlanta Journal-Constitution)
COMMENTARY: Crisis not failure of capitalism, but a failure of socialism! Oct 4, 2008
When the debt is higher than market value, Fannie and Freddie stepped in to cover the loss. The Wall Street investment banks are another story. (Cohasset Mariner, MA)
Canada's commodity engine stalls Oct 4, 2008
The sell-off marks the second time in a week that Toronto's Standard & Poor's/TSX composite index has lost more than 800 points in one day, wiping out tens of billions of dollars of market value. "You need to have a bullet-proof vest on to watch it," said David Constable, a vice-president at FNX Mining Co. Inc., a nickel and copper miner whose shares fell 19 per cent yesterday amid the market carnage and have lost more than a third of their value this week. (Globe and Mail -- National)
SEC POWERS: Can suspend mark-to-market accounting rule Oct 4, 2008
This arcane accounting rule requires companies to write down the value of certain assets to their current market value defined as the price that similar assets are fetching in an open market. Some investors are blaming the mark-to-market rule for exacerbating the financial crisis. (USA Today -- Money)
Stock losses take heavy toll on retirement savings Oct 4, 2008
They also still owe $425,000 on a house with a market value of $650,000. The meltdown in the markets comes as pensions are being eliminated. (USA Today -- Money)
Assessors strive for fairness Oct 4, 2008
A change to the Wyoming Constitution in 1990 requires properties to be assessed at fair market value, with the exception of agricultural lands, which are valued according to production ... -- Remember assessments are different from the current market values because the estimates rely on data from a year ago ... -- Just because two properties in the same county are assessed at the same market value does not necessarily mean they will be taxed at the same rates. (Casper Star-Tribune, WY)
Palin tax returns for '06 and '07 released Oct 4, 2008
For the 2006 tax year, the couple listed two noncash donations of "crib," household goods and clothing to the Salvation Army of Wasilla, with a fair market value of $1,000, and more goods and clothing, with a fair market value of $230 ... Asked to explain the missing $600 on the actual return, Comella said that figures in two columns had been reversed - that the $1,000 was actually the donor's cost and the $400 listed under that category was actually the fair market value. (AZCentral -- News)
Wells Fargo trumps Citi for Wachovia Oct 4, 2008
The battle between San Francisco-based Wells Fargo, the third-biggest bank by market value, and Citigroup, the fourth, is nothing less than a race to secure a dominant spot in the U.S. financial industry, likely for decades to come. Now that Washington Mutual Savings Bank and Merrill Lynch ave been devoured, Wachovia is the lone bank that could provide a buyer with a truly transformative acquisition, one that catapults it into the top tier of U.S. banks. (Globe and Mail -- Business)
Hensarling and Pence on the Bailout Battle Oct 4, 2008
Americans will see their bank deposit insurance rise from $100,000 to $250,000, and banks will now be able to value assets much closer to fair market value, increasing their capital and their ability to make credit available to working families, small businesses and family farms. But even with these important improvements, this legislation remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector and passes the cost... (Human Events Online)
Horizon Financial Corp. Announces Quarterly Cash Dividend of $0.05 Per Share; Remains Well-Capitalized and Reiterates No Exposure to Freddie Mac and Fannie Mae Preferred Stock and Schedules Conference Call for FY2Q09 Oct 4, 2008
The current market value of these shares is approximately $35,600 based on yesterday's closing price. In addition, we do not have any direct exposure to interest rate swaps or other complex derivative instruments. (Primezone Releases)
PIMCO Floating Rate Income Fund and PIMCO Floating Rate Strategy Fund Declare Monthly Common Share Income Dividends Oct 4, 2008
0 (a) Net assets are inclusive of market value of Preferred Shares of $210 million and $480 million for PFL and PFN, respectively. ADVERTISEMENT. (Primezone Releases)
Probe into bad Apple rumour Oct 4, 2008
That would erase about $US21 billion from Apple's market value. "It's a tough position to be in - they don't continually want to field questions and make news when there is no news," said Ryan Jacob, who manages the Jacob Internet Fund and has owned Apple's shares since 2003. (Sydney Morning Herald -- Business)
Dutch chip in $30b to keep Fortis afloat Oct 4, 2008
42 euros in Brussels trading, reducing the market value to 12. 8 billion euros. (Sydney Morning Herald -- Business)
POLICE REPORTS: Oct. 3 (71) Oct 4, 2008
The owner did not know the value of the steel, but police said steel has a current market value of $1,000 per ton. CALEDONIA. (Racine Journal Times, WI)
Analysis: Micron tightens belt after big loss Oct 4, 2008
Due to a sharp decline in ASPs during the last half of the quarter, Micron wrote down its memory inventory by $205 million to bring it in line with estimated market value, said Ronald Foster, Micron's chief financial officer. Analysts paint a bleak picture of the market. (EETimes)
Implats bids R21bn for Northam, ups Booysendal output target Oct 4, 2008
The acquisition of Northam and Mvelaphanda will create a group with a market value of about R114 billion, compared with rival Anglo Platinum's capitalisation of R168. 2 billion. (Business Report, South Africa)
Playing the Jock Market Oct 4, 2008
The market value of all shares has already passed $300,000. And if the site remains successful, sports marketers might want to pay attention. (Time.com)
Don't call it a bailout Oct 4, 2008
Site Presented By Saturday, Oct 4, 2008. Don't call it a bailout. (Salon)
Market storm fells foresters Oct 4, 2008
2-billion in the first six months of this year, a total nearly as large as the market value of the country's biggest lumber producer. As the top forestry companies in other parts of the world posted billions in profits, Canada's industry was mired in losses that far outstripped the US$181-million in red ink posted in the first six months of 2007, according to a PricewaterhouseCoopers earnings tally published yesterday. (Financial Post)
Asian Stocks Decline, Set for Worst Week Since Aug. 2007; Toyota Retreats Oct 3, 2008
GE, once the world's largest company by market value, was forced to raise $12 billion through a share sale to keep its business going. The move by GE, which carries debt at four times its equity, highlights the danger leveraged companies face as funding dries up. (Bloomberg -- Asia)
Govt, regulators review readiness to deal with global financial crisis Oct 3, 2008
The officials in the finance ministry had earlier indicated that the Indian banking sector has witnessed market-to-market losses of around Rs 400 crore due to their investment in instruments of troubled US financial giants like Lehman Brothers and AIG. MTM is based on the market value of underlying securities and keep varying. MTM is a notional loss but it would be reflected in the balance sheet. (India Times, India -- Intl Business)
UBS expects profitable quarter after paring mortgage holdings Oct 3, 2008
The stock has declined 54 percent this year, cutting the bank's market value to $55. 1 billion, after a wrong-way bet on the US mortgage market forced the bank to raise more than $27 billion in capital. (Boston Globe)
GE to raise $15b on stock sale, Buffett buy Oct 3, 2008
The moves accelerate the plan chief executive Jeffrey Immelt disclosed last week to improve finances at GE, which has lost more than 40 percent of its market value in the last year. The vote of confidence from Buffett, who struck a similar deal with last month, may further burnish the company, which has maintained top-level AAA credit ratings through the global crisis. (Boston Globe)
Driscoll: Rehberg should stick with no’ vote Oct 3, 2008
The accounting rule, also known as mark-to-market, says banks must value assets at their market value. Critics say this rule is making the financial crisis worse because it forces banks and others to state huge losses on long-term assets, thus understating their true value and making it harder for banks to loan money. (Helena Independent Record, MT)
Amilpar - Relevant Fact - Approval of Share Repurchase Program Oct 3, 2008
The Company believes that the current market value of its shares does not reflect its fundamentals in terms of growth and profitability. The repurchase of shares issued by the Company will not represent a reduction of the capital stock and will be supported by the profit reserves defined in CVM Instruction 10/80; (b) Shares Outstanding (Free Float): The number of outstanding shares in the market as of August 30, 2008 totaled 102,412,457 common shares with no par value; (c) Quantity of Shares to... (PR Newswire)
Tronox Announces Surcharge for Titanium Dioxide Grades Sold in North American Paper Market Oct 3, 2008
Future results and developments discussed in these statements may be affected by numerous factors and risks, such as the accuracy of the assumptions that underlie the statements, the market value of Tronox's products, demand for consumer products for which Tronox's businesses supply raw materials, the financial resources of competitors, the market for debt and/or equity financing, changes in laws and regulations, the ability to respond to challenges in international markets, changes in currency... (PR Newswire)
Cochran, Wicker say ‘no’ to $700B bailout Oct 3, 2008
Musgrove said he wants the bill to contain measures that include assurances the government buys these soured debts at fair market value. He also wants to force the U.S. Justice Department to investigate Wall Street executives to make sure we hold them accountable for the financial mess. (Columbus Commercial Dispatch, MS)
Third-quarter troubles clobber Oregon stocks Oct 3, 2008
1 billion in market value. In the last three months alone, its shares plummeted more than 65 percent. (OregonLive, OR -- Business)
Yen a winner fromfinancial woes Oct 3, 2008
"With investors being risk averse, the yen will remain firm," said Masaki Fukui, senior market economist in Tokyo at Mizuho Corporate Bank Ltd, a unit of Japan's second-largest financial group by market value ... Short-term dollar buying Looking ahead, "The yen will strengthen against yen-crosses such as the euro," said Yuji Saito, head of the foreign-exchange group in Tokyo at Societe Generale SA, France's second-largest bank by market value ... Mitsubishi UFJ Financial Group, Japan's largest... (Asia Times Online)
County's '09 budget mostly intact Oct 3, 2008
3 percent, taking the market value of a 200,000 home to 206,600. Using those changes in market value, the county property taxes for that property are expected to increase about 4 percent, Deputy County Administrator Gary Hanson said. (DeKalb Daily Chronicle, IL)
ASCHBURNER: Burning camp questions around the East Oct 3, 2008
It's true that Smith had to set his market value from the outside, finally attracting an offer sheet from Memphis that the Hawks opted to match. It's also true that Atlanta's last proactive offer to the talented 6-9 forward was for about $13 million less. (SportsIllustrated.CNN -- NBA)
Heidelberger Druck Falls After Company Reports Quarterly Operating Loss Oct 3, 2008
Heidelberger Druck has lost 56 percent this year, cutting the company's market value to 780 million euros. Significant Reluctance. (Bloomberg -- Germany)
A game of American roulette Oct 3, 2008
Under the accounting rules, institutions have to record the current market value of their holdings. But if there is no market, what's their value. (Sydney Morning Herald -- Opinion)
Sell Property Oct 3, 2008
Determining the true market value. Negotiate the best possible price. (Sydney Morning Herald -- Opinion)
Economics lexicon Oct 3, 2008
Reducing the book value of an asset to reflect a fall in its market value. For example, the write-down of a company's value after a big fall in share prices. (BBC News -- UK)
Will public's distaste for a 'bailout' fade? Oct 3, 2008
That's one way to look at what happened Monday, when US stock shares lost more than $1 trillion in market value after a House "no" vote on a financial rescue bill an amount greater than the rescue package itself. But if that seemed like a signal from markets for Congress to "do something, anything," many Americans still cringe instinctively at the idea of government bailouts and rushed legislation. (Christian Science Monitor -- USA)
Bailout plan: 'Repugnant' Oct 3, 2008
If you can pay for the house you live a decline in market value will not have any impact on you or your ability to pay the mortgage payment. Second, I you had any knowledge of the situation you would then know that the Sabanes Oxley legistlation that was a knee jerk reaction to Enron and Worldcom caused most of the liquidity problems due to mark to market rules. (Sioux City Journal, IO)
COMMENTARY: Crisis not failure of capitalism, but a failure of socialism! Oct 3, 2008
When the debt is higher than market value, Fannie and Freddie stepped in to cover the loss. The Wall Street investment banks are another story. (Hingham Journal, MA)
