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Source: http://www.nbcnews.com/video/cnbc/53180915/
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Friday, October 4, 2013
Thursday, October 3, 2013
These 2 High-Yielding Stocks Are An Investment Billionaire's Top ...
Arbor Realty Trust, Inc. (ABR) shares were recently trading for about $7.60, but a recent selloff has created an ideal buying opportunity. With the stock now trading just below $7, there appears to be significant rebound potential and a chance to collect a high yield. Furthermore, a savvy investment billionaire likes this stock and a major investment bank also sees major upside potential from current levels.
This company is set up as a real estate investment trust "REIT", which focuses on investing in multifamily, commercial real estate-related bridge and mezzanine loans as well as in preferred equity and other real estate assets. It is based in New York and is externally managed by Arbor Commercial Mortgage, LLC. Since it is a real estate investment trust, it is required to distribute at least 90% of its taxable income to shareholders and that is why it offers a very generous yield of about 7.6%.
The reason the stock dropped recently is because the company announced a 6 million share secondary stock offering. In the second half of September, these shares were trading for around $7.60, and the secondary offering was priced at $7.08 per share. That means you can buy the stock for much less that $7.60 and even for a discount to the secondary offering price. This stock also looks cheap based on book value which is also $7.60 per share.
(click to enlarge)
As the chart above shows, this stock has been in an uptrend recently. However, the recent secondary offering and the weakness in the market over concerns about a potential government shutdown has created a significant buying opportunity. The stock offers a generous yield and it could be poised to rebound back to around $7.18 per share, which is the current 50-day moving average.
Earlier this year, analysts at Deutsche Bank gave this stock a buy rating and set a $9.50 price target. The Thomson/First Call price target estimate for the stock is $9.25. That implies upside of about 30%, and investors can collect a yield of 7.6% while waiting for a higher share price.
Billionaire investor Leon Cooperman named Arbor Realty as one of his top picks for high income with growth for 2013, at the Delivering Alpha Conference. It's worth noting that all ten of his top picks for 2012 at this conference have been winners. Mr. Cooperman has an outstanding long-term history of finding bargain stocks that lead to big gains for his investors and himself. Following billionaire investors is a potentially savvy way to build a portfolio, especially when the stock offers such a great yield and significant upside in terms of capital gains.
With the secondary now out of the picture and the stock trading below book value and at a discount to the recent offering, the downside risks could be limited at these current cheap levels. One potential risk to consider with high yielding stocks is whether or not the dividend appears sustainable, and it does with Arbor Realty. The annual dividend is 52 cents per share and analysts expect the company to earn 57 cents per share this year and for earnings to grow by about 11% to 64 cents per share in 2014. That means the dividend appears sustainable and even poised to rise along with earnings in the coming years.
Here are some key points for ABR:
Current share price: $6.90
The 52 week range is $4.72 to $8.60
Earnings estimates for 2013: 57 cents per share
Earnings estimates for 2014: 64 cents per share
Annual dividend: 52 cents per share which yields 7.6%
Chimera Investment Corp. (CIM) is another high-yielding stock that Leon Cooperman has selected as one of his top ten picks for the rest of the year. Chimera is a mortgage real estate investment trust. It invests primarily in mortgage securities and is managed by Annaly Capital Management (NLY) through a subsidiary which is called the "Fixed Income Discount Advisory Co."
(click to enlarge)
As the chart above shows, Chimera shares have been trending higher since hitting lows of about $2.90, in September. It is now trading just above $3 per share as investor concerns over the plans of a "taper" have subsided. It's easy to see why Mr. Cooperman likes this stock, especially as it has shown relative strength recently when compared to other mortgage REIT stocks. Furthermore, the dividend is very compelling with a yield of about 11.8%.
Analysts expect the company to earn about 38 cents per share for this year. With the annual dividend at 36 cents per share, the current yield appears sustainable, at least for now. Chimera will trade ex-dividend, for the quarterly dividend of 9 cents per share, on October 2, 2013. This dividend will be paid on October 31, 2013.
Investors in mortgage REIT stocks should consider certain potential downside risks. A big move up or down in interest rates could lead to volatility for stocks in this sector. Additional risks include Federal Reserve policy, and regulations on the status of REIT's, as well as potential secondary offerings. However, buying this stock on any weakness and keeping it down to a small percentage of your portfolio to limit risks, could be a rewarding way to collect a very big yield.
Here are some key points for CIM:
Current share price: $3.04
The 52 week range is $2.49 to $3.34
Earnings estimates for 2013: 38 cents per share
Earnings estimates for 2014: not available on Yahoo Finance
Annual dividend: 36 cents per share which yields 12.2%
Data is sourced from Yahoo Finance. No guarantees or representations are made. Hawkinvest is not a registered investment advisor and does not provide specific investment advice. The information is for informational purposes only. You should always consult a financial advisor.
Disclosure: I am long ABR. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Clinician observations of preschoolers' behavior help to predict ADHD at school age
[unable to retrieve full-text content]Don?t rely on one source of information about your preschoolers? inattention or hyperactivity. Rather, consider how your child behaves at home as well as information from his or her teacher and a clinician. This advice comes from researchers who examined how well parent, teacher, and clinician ratings of preschoolers? behavior were able to predict severity and diagnosis of attention deficit hyperactivity disorder (ADHD) at age six.
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Wednesday, October 2, 2013
Army Day Parade
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Post Re-Ordering provided by Re-Order Posts (Free) - vBulletin Mods & Addons Copyright ? 2013 DragonByte Technologies Ltd.DFI is a privately owned entity and does not have any political and religious connections, we are pro republic of India. We are a non profit organization and opinions expressed on this website is the sole responsibility of the users, at no point would the staff and management be responsible for any damage arising from such opinions and the management will not be responsible for any legal issues that might be associated with the said member. We respect and follow the internet norms and rules and expect our members also to follow the laws of the region while posting. Content posted/published here must not be copied without permission.
Source: http://defenceforumindia.com/forum/military-multimedia/54676-army-day-parade.html
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Poe Museum in Va. seeks to preserve illustrations
RICHMOND, Va. (AP) ? The Edgar Allan Poe Museum is starting a fundraising effort to preserve illustrations of the American writer's famous 1845 poem, "The Raven."
Museum officials hope to raise $60,000 for the nearly 130-year-old illustrations by English street artist James Carling. The 43 works of watercolor and ink bring the haunting lines of the poem to life.
The images of death and torment were once an important part of the museum's collection and were on display for 40 years.
But the illustrations, now stacked in a series of worn cardboard boxes, were glued to cardboard, causing them to darken and deteriorate over the years. They were even named one of Virginia's top 10 endangered artifacts in 2013 by the Virginia Association of Museums.
Officials at the museum in Richmond are looking to safeguard the drawings by raising money through the Internet crowdfunding site Kickstarter. If the entire amount isn't raised by Nov. 15, the museum won't get any of the money, according to the website's rules.
The illustrations "interpret Poe's works in a way that nobody really quite has," said Chris Semtner, curator of the museum that is located blocks away from Poe's first Richmond home. "Carling really had become merged with Poe's personality. He understood Poe's motivations."
Carling, who billed himself as the "fastest drawer in the world," sought to outdo the world's most popular illustrator, French artist Gustave Dor?, who did is own illustrations of the poem.
Carling wrote of his works: "Mine are stormier, wilder and more weird; they are horrible; I have reproduced mentality and phantasm."
The illustrations once graced the walls of the museum's "Raven Room," where they evoked shudders from visitors, including Kevin Williamson, writer of "The Following," a television show on Fox about a former FBI agent who is forced to recapture a serial killer.
Williamson said his mother brought him to the museum years ago, and the trip later inspired the TV show.
"And the walls were red and looked like blood, and they had 'The Raven' written on the wall, and you had to follow around to read it. I remember it being most magical day," Williamson said in January at the Television Critics Association tour in California.
"The Raven," first published in the New York Evening Mirror, tells the story of a grieving man who gets a midnight visit from a strange bird that repeatedly speaks the word "Nevermore."
Poe, who was born in Boston on Jan. 19, 1809, lived in Baltimore, London, New York, Philadelphia and Richmond. He died under mysterious circumstances at the age of 40 during a visit to Baltimore on Oct. 7, 1849. The cause of his death has been the subject of much speculation over the years, with theories ranging from murder to rabies.
___
Online:
Kickstarter page: http://bit.ly/jcarling
Poe Museum: http://www.poemuseum.org/
___
Michael Felberbaum can be reached at http://www.twitter.com/MLFelberbaum .
Source: http://news.yahoo.com/poe-museum-va-seeks-preserve-illustrations-165626336.html
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Chinese co wins bid to supply capital machinery to SFF
TOKYO, July 16 (Reuters): Pressure mounted on Japanese Prime Minister Taro Aso? Thursday after ruling party lawmakers called for a meeting to debate the party's ailing fortunes at which his harshest critics are expected to seek his resignation.
Aso's plan for an election on August 30 -- announced just a day after the opposition Democrats trounced the conservative Liberal Democratic Party (LDP) in a Tokyo metropolitan vote-has sparked chaos in the ruling party.
Surveys show the opposition Democratic Party will win the national election, which must be held by October.
Only 16.3 per cent of respondents to a poll published by Jiji news agency Thursday said they supported Aso and his cabinet, down 7.8 percentage points from a similar poll a month ago.
Asked which party they would vote for in the election, 37.4 per cent opted for the Democrats and 19.5 per cent for the LDP.
A Democrat victory would end more than 50 years of almost unbroken rule by the business-friendly LDP and improve chances of resolving a policy deadlock caused by a divided parliament, where the opposition controls the upper house and can delay bills.
A petition demanding the meeting of LDP lawmakers was handed to LDP Secretary-General Hiroyuki Hosoda, top government spokesman Takeo Kawamura told reporters.
Under party rules, the meeting must be held within seven days, although Aso could dissolve the lower house first.
Kawamura said Aso was ready to respond if the meeting was held, but would likely stick to his election plan.
"Our term of office is fixed and the prime minister's choice of August 30 is close to the deadline," he added. "I don't think the prime minister will change his mind."
Aso has come under fire for a series of policy flip-flops and gaffes at a time when Japan is suffering its worst recession in 60 years.
In a further sign of disarray, Finance Minister Kaoru Yosano-widely seen as the architect of the Aso administration's economic policies-and Agriculture Minister Shigeru Ishiba are among those who signed the petition.
The two met the premier Wednesday to press home their views on the party's difficulties following the loss in the Tokyo assembly election.
It was not clear, however, how many of those who signed the petition want to ditch Aso.
Aso has made it clear he has no intention of resigning and a majority of lawmakers at the meeting would be needed to bring forward a vote for the party leadership set for September. Only a handful of lawmakers have openly called for Aso to resign.
Although there are potential alternatives within the party, including Health Minister Yoichi Masuzoe, analysts say a last-minute change of leadership ahead of the election would do little to boost the party's fortunes.
"Among those who signed the petition, there are some who want to change the party leader, while there are also opinions that we need to review the outcome of the Tokyo election," former prime minister Yoshiro Mori told a television programme Thursday. "Some also want to have a place to discuss the manifesto."
TOKYO, July 16 (Reuters): Pressure mounted on Japanese Prime Minister Taro Aso? Thursday after ruling party lawmakers called for a meeting to debate the party's ailing fortunes at which his harshest critics are expected to seek his resignation.
Aso's plan for an election on August 30 -- announced just a day after the opposition Democrats trounced the conservative Liberal Democratic Party (LDP) in a Tokyo metropolitan vote-has sparked chaos in the ruling party.
Surveys show the opposition Democratic Party will win the national election, which must be held by October.
Only 16.3 per cent of respondents to a poll published by Jiji news agency Thursday said they supported Aso and his cabinet, down 7.8 percentage points from a similar poll a month ago.
Asked which party they would vote for in the election, 37.4 per cent opted for the Democrats and 19.5 per cent for the LDP.
A Democrat victory would end more than 50 years of almost unbroken rule by the business-friendly LDP and improve chances of resolving a policy deadlock caused by a divided parliament, where the opposition controls the upper house and can delay bills.
A petition demanding the meeting of LDP lawmakers was handed to LDP Secretary-General Hiroyuki Hosoda, top government spokesman Takeo Kawamura told reporters.
| Table 1: Savings, Investment, Current Account Balance 2006-09 (%GDP) | ||||
| Gross Domestic Investment | Gross National Savings | SavingsSurplus | Current Account Balance | |
| Bangladesh | 24.2 | 29.2 | 5.0 | 1.0 |
| India | 35.9 | 37.1 | 1.2 | -2.89 |
| Pakistan | 23 | 24 | 1.0 | -8.37 |
| Sri Lanka | 27.2 | 22.7 | -4.5 | -7.32 |
| Nepal | 28 | 28.5 | 0.5 | 2.62 |
| China | 42.9 | 48.7 | 5.8 | 10.00 |
| Vietnam | 38.7 | 32.8 | -5.9 | -9.38 |
| Source: Asian Development Bank (ADB) | ||||
????????? There is one more dimension to the paradox not to be ignored. There is a one-to-one relationship between current account of the balance of payments and national accounts. For several years running, our current account has been posting a modest surplus, which was close to one percent of GDP in the last fiscal year. A current account surplus implies that the economy generated more income from domestic production and foreign earnings (remittances) than it spent on goods and services ? domestic and foreign. In national accounting terms, this corresponds to the excess of savings over investment. That is to say, the savings-investment surplus should equal ? or approach equality with -- current account surplus, which should then be also 5 percent of GDP rather than only one percent. How do we explain the incongruence of the two figures?
????????? The aggregate economic relationship point to the fact that some of our national savings is not invested in the domestic economy but abroad. In the absence of capital account convertibility, this would not be permissible, though India has allowed Indians to invest abroad under limited convertibility of the capital account. It is common knowledge that a significant part of worker remittances might not be coming through official channels. That creates one scope, among others, for investment of national savings abroad. In addition, both exporters and importers have multiple conduits ? well known to those who mange the country?s financial system -- for parking resources abroad outside the purview of the non-convertible capital account regime.
????????? All this points to the fact that capital in the present day and age could be quite mobile. It would be na?ve to think that all savings of Bangladeshis are in the domestic economic system. Although our current account is convertible (done in 1994), non-convertibility of capital account puts numerous bounds on current account transactions. So the incentive for parking domestic capital outside is not eliminated. These days, with interest rates in developed financial markets being at near zero, the relatively high returns in domestic banks and financial institutions should attract resources parked outside the country to be ploughed back in though other uncertainties of life and limb in Bangladesh might still prompt the flight of capital. I reckon it is only a matter of time when restrictions on outward and inward movement of capital will have to be relaxed, even under the regime of non-convertibility.? This is more so because of the new initiative of government to encourage public-private partnership (PPP), particularly in mega-projects. Unless the restrictive rules of capital mobility are relaxed, it will remain a battle for private capital to move in or out; and an uphill task for those in the private sector trying to mobilize funds from international capital markets.
????????? Dr. Sattar is Chairman, Policy Research Institute of Bangladesh.
?Research support was provided by PRI?s Rubayat Chowdhury
zaidisattar@gmail.com
| Table 1: Savings, Investment, Current Account Balance 2006-09 (%GDP) | ||||
| Gross Domestic Investment | Gross National Savings | SavingsSurplus | Current Account Balance | |
| Bangladesh | 24.2 | 29.2 | 5.0 | 1.0 |
| India | 35.9 | 37.1 | 1.2 | -2.89 |
| Pakistan | 23 | 24 | 1.0 | -8.37 |
| Sri Lanka | 27.2 | 22.7 | -4.5 | -7.32 |
| Nepal | 28 | 28.5 | 0.5 | 2.62 |
| China | 42.9 | 48.7 | 5.8 | 10.00 |
| Vietnam | 38.7 | 32.8 | -5.9 | -9.38 |
| Source: Asian Development Bank (ADB) | ||||
????????? There is one more dimension to the paradox not to be ignored. There is a one-to-one relationship between current account of the balance of payments and national accounts. For several years running, our current account has been posting a modest surplus, which was close to one percent of GDP in the last fiscal year. A current account surplus implies that the economy generated more income from domestic production and foreign earnings (remittances) than it spent on goods and services ? domestic and foreign. In national accounting terms, this corresponds to the excess of savings over investment. That is to say, the savings-investment surplus should equal ? or approach equality with -- current account surplus, which should then be also 5 percent of GDP rather than only one percent. How do we explain the incongruence of the two figures?
????????? The aggregate economic relationship point to the fact that some of our national savings is not invested in the domestic economy but abroad. In the absence of capital account convertibility, this would not be permissible, though India has allowed Indians to invest abroad under limited convertibility of the capital account. It is common knowledge that a significant part of worker remittances might not be coming through official channels. That creates one scope, among others, for investment of national savings abroad. In addition, both exporters and importers have multiple conduits ? well known to those who mange the country?s financial system -- for parking resources abroad outside the purview of the non-convertible capital account regime.
????????? All this points to the fact that capital in the present day and age could be quite mobile. It would be na?ve to think that all savings of Bangladeshis are in the domestic economic system. Although our current account is convertible (done in 1994), non-convertibility of capital account puts numerous bounds on current account transactions. So the incentive for parking domestic capital outside is not eliminated. These days, with interest rates in developed financial markets being at near zero, the relatively high returns in domestic banks and financial institutions should attract resources parked outside the country to be ploughed back in though other uncertainties of life and limb in Bangladesh might still prompt the flight of capital. I reckon it is only a matter of time when restrictions on outward and inward movement of capital will have to be relaxed, even under the regime of non-convertibility.? This is more so because of the new initiative of government to encourage public-private partnership (PPP), particularly in mega-projects. Unless the restrictive rules of capital mobility are relaxed, it will remain a battle for private capital to move in or out; and an uphill task for those in the private sector trying to mobilize funds from international capital markets.
????????? Dr. Sattar is Chairman, Policy Research Institute of Bangladesh.
?Research support was provided by PRI?s Rubayat Chowdhury
zaidisattar@gmail.com
| Inter-city High Speed Train Image |
Elevated Light train passing through population centers:? In addition to a light train line planned (as per RAJUK map) from Kaliganj to Gazipur via north of Uttara, Savar and other places there, a light train or elevated light train service may start from Tongi to touch Pallabi, Mirpur, Mohammadpur, Dhanmodi, New market, Azimpur, and proceed further to Saidabad, Jatrabari and Demra.
Circular railway, elevated light train: ?As in most of the big cities with land constraint, a circular railway touching all population centers of the city, from where long distance railway and roads move out tangentially or radially to link satellite cities, may be built in Dhaka and Chittagong..? Many new roads or railway lines may have to be elevated to save wetland, canals and rivers.
Train Stations:? The train stations may not initially be costly structures. Most of the railway stations must be easy to access, have entrance level platforms, have sufficient parking space, and have provisions for bus stops to pick up and unload passengers, have places for taxis to wait in line to pick up passengers, and other facilities.??????
Public Bus service shall be an essential mode of transport, but it must be systematic and planned. Buses and their operation must be standardized. One route may be licensed to any one city bus operator company. The practical management aspects may be documented for effective, smooth transport suited to all age group of passengers. Ad hoc measures should? be avoided.Manufacture of Railway coach locally: The railway workshops which already undertook some manufacturing works may be revamped and given technological input for local manufacture of various rail line equipments.
Railway Test Track:? To maintain or improve the quality of the railway service, railway authority shall build and use a 7- to 15- km test track for test, experimentation and improvement.
Development of Water way: ?We may fully develop and utilize our river and waterway transport system by utilizing part of the existing infrastructure, which the government is also considering.
Subway:? Subway may not be our immediate choice, in view of risk of inundation of major areas of the city every year and our lack of technological capability to counter the effects? immediately. In future it may be essential for connecting missing links.
About 15-feet wide footpath may be necessary for subway exit and entrance. Management of traffic and establishment of continuous, safe foot path will ease much of the existing traffic congestion within the city immediately, but it will not solve the problem without mass transit and public transport system.
Railway, neglected since 1880s, is now drawing governmental? attention for its development. If the government can show political will and courage to take initiative, massive work may be started without much or any foreign loan.
?We expect our government will not compromise with long-term national interest. Our economy is already bleeding. Let us start acting wisely, deploying relevant development policy instruments before it is too late.
?
(The writer is Chairman, The Institute of Development Strategy (IDS), Dhaka.
The views expressed here are his own, and not necessarily of the organization he represents. E-mail: idsrahman@msn.com Tel: 02-8855112) Sweden wins Eurovision Song Contest
Favourite Loreen has triumphed for Sweden at the 57th Eurovision Song Contest, with her club track Euphoria. The former Swedish Idol contestant led from early on in the voting at Baku, challenged only by Russia's Buranovo Grannies, Serbia and hosts Azerbaijan.?? BBC. ly uncertain in key trading partner countries, particularly in Europe due to the unfolding sovereign debt crisis. The United States is showing some signs of recovery but overall the growth prospect for 2012 in advanced economies remains bleak while growth has slowed in developing countries (see Box 1).
Commodity prices continue to represent a key country risk. Global food prices remain at elevated levels. However, international rice prices have fallen thereby helping to keep domestic rice prices in check. Oil prices have fluctuated and crude oil prices rose sharply in the months leading to March 2012 due to escalating tensions in the Middle East. The price of a barrel of crude oil averaged USD 117 in March 2012, 13 per cent higher than its average in December 2011, and 8.0 per cent higher than a year earlier. Since then concerns over the global recovery has led to decline in commodity prices generally, with Brent crude oil dropping under USD90 a barrel for the first time since December 2010. However a further round of quantitative easing in advanced countries in light of the current Eurozone crisis could lead to speculative flows into commodity markets. Moreover the uncertainties in the Middle East continue to persist. Hence the current easing of commodity market prices may not sustain itself in 2012/13.
Recent economic developments: In FY10 and FY11 the global economy was reeling from the global financial crisis of 2009 and in order to avert an impact on the Bangladesh economy, broad money growth and specifically private sector credit growth were eased. The Bangladesh economy as a consequence of this stance, and other pro-active measures, emerged largely unscathed from the global crisis, averaging over 6.0 per cent growth between FY09 and FY11. In FY12 the economy faced a different set of challenges related to rising inflation and balance of payments pressures. In order to address these challenges BB's monetary stance was more restrained than earlier years and yet able to accommodate a private sector credit growth rate (18.5 per cent) which was more than sufficient to meet the initial GDP growth target. The monetary growth targets set in January 2012 were met and the outcomes - falling inflation and containment of external sector pressures - were achieved.
Domestic output growth was projected at 7.0 per cent in the FY12 Budget assuming stable domestic and global economic conditions. Provisional figures from the Bangladesh Bureau of Statistics (BBS) estimate economic growth of 6.32 per cent in FY12 compared to 6.71 per cent in FY11. The main reason behind the lower number appears to be a slowing of agricultural growth which according to these provisional numbers has slowed from 5.13 per cent in FY11 to 2.53 per cent in FY12. This is largely due to the base effect of two consecutive years of record growth but also they could be revised upwards once the 'Boro' rice crop is accounted for. Yet industrial growth, which is the sector most affected by access to timely credit, is estimated at 9.47 per cent in FY12, higher than the 8.20 per cent in FY11. An important driver of this higher industrial growth is faster growth of small scale industries which increased from 5.84 per cent in FY 11 to an estimated 7.18 per cent in FY12. Service sector growth of 6.06 per cent in FY12 was marginally lower than the 6.22 per cent achieved in FY11 (see Table 1).
economy, broad money growth and specifically private sector credit growth were eased. The Bangladesh economy as a consequence of this stance, and other pro-active measures, emerged largely unscathed from the global crisis, averaging over 6.0 per cent growth between FY09 and FY11. In FY12 the economy faced a different set of challenges related to rising inflation and balance of payments pressures. In order to address these challenges BB's monetary stance was more restrained than earlier years and yet able to accommodate a private sector credit growth rate (18.5 per cent) which was more than sufficient to meet the initial GDP growth target. The monetary growth targets set in January 2012 were met and the outcomes - falling inflation and containment of external sector pressures - were achieved.
Domestic output growth was projected at 7.0 per cent in the FY12 Budget assuming stable domestic and global economic conditions. Provisional figures from the Bangladesh Bureau of Statistics (BBS) estimate economic growth of 6.32 per cent in FY12 compared to 6.71 per cent in FY11. The main reason behind the lower number appears to be a slowing of agricultural growth which according to these provisional numbers has slowed from 5.13 per cent in FY11 to 2.53 per cent in FY12. This is largely due to the base effect of two consecutive years of record growth but also they could be revised upwards once the 'Boro' rice crop is accounted for. Yet industrial growth, which is the sector most affected by access to timely credit, is estimated at 9.47 per cent in FY12, higher than the 8.20 per cent in FY11. An important driver of this higher industrial growth is faster growth of small scale industries which increased from 5.84 per cent in FY 11 to an estimated 7.18 per cent in FY12. Service sector growth of 6.06 per cent in FY12 was marginally lower than the 6.22 per cent achieved in FY11 (see Table 1).
Challenges in sourcing cotton: Bangladesh has been facing enormous challenges to sourcing cotton to feed its twenty billion-dollar apparel industry for the last couple of years. For a country considered a rising textile power, the challenges have been the painful reminders of the intractable problems plaguing Bangladesh. India, for example, has been serving as one of the most important sources of cotton for Bangladesh. However, for the last couple of years, it has been proven to be one of the most unreliable and undependable sources.
Several events that marked the 2010-11 cotton-year, have changed the landscape of the Bangladesh cotton industry. It is widely believed that these events will continue to have impact on the cotton industry for a foreseeable period of time. Series of Indian governmental ban on cotton export in 2010 and 2011 triggered a rally in the cotton market that never experienced in the history of cotton. As a result, the New York ICE futures settled at an unprecedented level of 214 cents/lb in March 2011.
The Bangladeshi spinners took a considerable position in Indian cotton before the export ban in April 2010, only to find the Indian merchants default on contracts en masse, citing the governmental export ban. However, the import data suggests that the Indian cotton continued to pour in Bangladesh with a peak volume of 52,000 MT just in April 2010. Unfortunately most of the cotton did not reach to its intended buyers; rather, it was deliberately shipped to other buyers for extra profits, taking the advantage of already soaring market price. Indian merchants circumvent the system to ship cotton elsewhere to take advantage of the higher cotton prices.
From the above graph, it can be seen that the seller's target sales are mostly covered by one holiday's sales and an insignificant portion of the target sales is covered by the rest of the five days of the week. But, as his customer mostly comes on the holiday, he thinks that one more holiday would be good for him because by his usual expectation this extra one more holiday would be more than sufficient to cover rest of his five days' sales including addition of more sales as the probability of shopping on the holidays is greater.
So, from the seller's point of view, keeping the shops open for two days which are holidays for his customer would increase his profit more than he gets previously keeping his shops open for six days. How? First, cost of running his shops would be reduced by closing his shops without any decrease in sales. Second, holiday shopping behaviour of his customer would increase his sales a bit more with the compensating sales of the rest of the five working days' sales.
So, his profit:? (target sales + additional sales induced by one more holiday) ? (total cost? reduction of total cost by some amount) is obviously greater than the previous profit level by the amount (additional sales+ reduced magnitude of total cost)
This analysis indicates that rise in cost induces rise in mark-up - a bizarre fact in reality because mark-up should not increase with the cost but in the above problem it increases as the cost increases. This kind of instance is really embarrassing. Let's say one more holiday decreases the cost of the seller? by some amount B. Then, we find this relationship between the cost and mark- up.
DEFINITION OF MEDIUM ENTERPRISE: Medium enterprise refers to the establishment/firm which is not a public limited company.
Source: http://www.thefinancialexpress-bd.com/more.php?news_id=156546&date=2013-01-12
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Tuesday, October 1, 2013
Trio face off for Robert Ford's senate seat
CHARLESTON, SC (WCSC)-The special election for Senate District 42 is set to begin Tuesday.
Marlon Kimpson will represent the Democrats in the race as he takes on Republican Billy Shuman and Libertarian Alex Thornton.? We'll have all three candidates live on Live5News at 6 a.m. Tuesday.? Be sure to tune in.
The polls open at 7 a.m. and close at 7 p.m.? If you have any questions about where to vote, click here.
Kimpson defeated Maurice Washington during the Democratic primary run-off late last month.? There was no Republican Primary.
The Dist. 42 seat was formerly held by long-time SC Senator Robert Ford, who served in Columbia for 20 years but resigned at the end of May, citing high blood pressure and cardiovascular issues.
At the time, he was the focus of a Senate Ethics Committee probe into campaign finances. The committee found probable cause to support allegations he violated ethics laws and the State Law Enforcement Division is now investigating.
Copyright 2013 WCSC.? All rights reserved.
Source: http://westashley.live5news.com/news/news/104942-trio-face-robert-fords-senate-seat
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