Bank of Japan may hold rates.

Financeroll.com (21/11) -- The Bank of Japan may consider more measures to soothe frazzled money markets at a meeting this week and keep interest rates steady until a shrinking economy or the global financial crisis demand a more drastic response.
The central bank cut its benchmark rate by 20 basis points to 0.3 percent last month, and economists say it may consider another cut either next month or early next year.


But with its benchmark already the lowest among the Group of Seven rich nations and the economy in its first recession in seven years, the BOJ has little room to manoeuvre on monetary policy.



Last week Seiji Nakamura, a member of the BOJ's rate-setting board, said he did not see an immediate need for a rate cut and warned that very low rates could disrupt money markets.(RTR/hqm)

Obama pick Geithner as Treasury Secretary.

Financeroll.com (22/11) -- President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, as released in Bloomberg.
Geithner helped lead the U.S. response to the deepest financial crisis in seven decades, including the takeover of American International Group Inc. and Bear Stearns Cos. rescue, and decision to let Lehman Brothers Holdings Inc. fail. The U.S. stock market’s benchmark index climbed from an 11-year low after news of Obama’s pick.

Both Geithner and Summers are veterans of managing financial turmoil, working together on the Asian financial crisis of 1997- 98 and staving off a Mexican default earlier that decade. They will be charged with shepherding Obama’s plans for a fiscal stimulus to cushion an economy that analysts say is in its deepest recession in a quarter century.


Summers, Bill Clinton’s last Treasury secretary and now a professor at Harvard University, would have a post that positions him to succeed Ben S. Bernanke as Fed chairman.

Obama is also likely to nominate New Mexico Governor Bill Richardson as Commerce Secretary, and to announce his picks on Nov. 24, the person said on condition of anonymity. Richardson was Clinton’s Energy secretary and former ambassador to the United Nations.

The Standard & Poor’s 500 Stock index jumped 6.3 percent to 800.03 at the close in New York. The gauge is still heading for its biggest annual decline since 1931.(BLB)

Asco installs wireless broadband network from Motorola

The city of Asco, Spain, has installed Motorola's Motomesh Duo wireless broadband network service throughout the city. Motorola’s Canopy 400 series point-to-multipoint wireless broadband service is providing the backhaul link.

This service is installed by Motorola partner Eurona. According to Motorola, its Motomesh Duo service will meet the bandwidth demands from municipal users, mobile businesses and residential subscribers. The system is also being used to automate the control of traffic through the city's network of narrow streets.

According to Motorola, Motomesh Duo is a dual radio wireless broadband service that delivers data at speeds of 10Mbps and reduces the costs of wide scale networks. The network also supports a broad range of applications including VoIP, video surveillance and location-based services.

Jaume Sanpera, director general at Eurona, said: “The Motomesh Duo units are small in size, lightweight and have low power consumption, enabling them to be mounted in a short period of time on buildings and street lights. Additional units can easily be added to the network to cater for increased demand.”

Recently Motorola announced that the company, its local partner Magic Telekom and European distributor AIR are collaborating with the city of Varaždin to develop a municipal wireless broadband network for the benefit of the city's employees, businesses, residents and visitors. The project heralds the deployment of Motorola's Motomesh Duo network in Europe, Middle East and Africa.


quote from networking.cbronline.com

Wall Street Ends Turbulent Week Sharply Lower

NEW YORK - Wall Street ended a turbulent week with another astonishing show of volatility Friday, with stocks plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. The Dow Jones industrials fell almost 340 points and the major indexes all fell sharply for the second straight week.

Hedge fund selling in advance of a Saturday deadline contributed to the market’s gyrations, and some retrenchment was to be expected following a big rally Thursday, when the Dow rallied more than 550 points after falling near its lows for the year. But there was plenty of discouraging news for investors to focus on, including comments from Federal Reserve Chairman Ben Bernanke that the markets remain under “severe strain” and a sobering report on October retail sales.

Analysts believe the market is still searching for a bottom after last month’s huge losses, and that the pattern of volatility will continue for some time — selling, even on technical reasons like looming deadlines for cashing out hedge fund holdings, is still coming against a backdrop of an extremely weak economy.

“Clearly, the trading crowd like hedge funds can take this market in any direction they want to. Anybody looking to build a position is just not confident,” said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

The session saw another stream of bad news. Bernanke said during a speech in Frankfurt, Germany, that he would work closely with other central banks to try to alleviate the global financial crisis and left open the door to a fresh interest rate cut. The Fed is scheduled to meet Dec. 16 at its last regularly scheduled meeting this year.

While Wall Street would like to see another rate cut, many investors aren’t sure, given the litany of bad economic and corporate news, of how effective a rate reduction would be in the near term. Many investors are still trying to assimilate the idea that the economy’s downturn will be protracted, lasting well into next year and perhaps longer.

“The economic news continues to be very negative,” said Ben Halliburton, chief investment officer of Tradition Capital Management. “The realization that ’09 is going to be a very bad year for economic activity is starting to dawn on people and they are starting to digest how bad it’s going to be.”

The Commerce Department reported that retail sales plunged by the largest amount on record in October as consumers cut back on spending in the wake of the financial crisis. Retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.

The market got more disappointing consumer news from retailers Abercrombie & Fitch Co. and JCPenney Co. Both warned that profits will come in below Wall Street’s already lowered projections as retailers head into a holiday shopping season that could be among the slowest on record.

The great fear on the Street is that Americans’ reluctance to spend will extend what is already a serious economic downturn. A barrage of negative consumer news sent stocks tumbling earlier in the week.

The market drew some brief comfort in the afternoon from comments from Treasury Secretary Henry Paulson, who told CNBC that capital injections in the banking sector will help stimulate lending. He also defended the decision to not buy toxic assets from banks, saying that it would not work as quickly; the move helped send stocks falling earlier this week.

There was disquieting news from the tech sector that weighed on the Nasdaq composite index. Sun Microsystems Inc. said it will cut up to 6,000 workers, or about 18 percent of global staff, as part of a massive restructuring plan. And handset maker Nokia Corp. warned the global economic slowdown will weigh on sales next year.

The Dow fell 337.93, or 3.82 percent, to 8,497.31, at its lows of the day. The Dow fell more than 300 in early trading, recovered to a slim advance and then turned sharply lower at the end of the day as hedge funds cashed out. Fund investors had a Nov. 15 deadline for withdrawing their money, which forced the funds in turn to sell stocks.

quote from www.msnbc.msn.com

Retail Sales Plunge by Largest Amount on Record

WASHINGTON - Retail sales plunged by a record amount in October as shoppers reined in spending with home prices falling, although plunging gasoline prices also reduced outlays by consumers.

Sales slumped 2.8 percent last month to a seasonally adjusted $363.7 billion, the largest decline since the series began in 1992, the Commerce Department said. The previous record was a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.

Retail sales fell 1.3 percent in September. Meanwhile, consumer confidence rose unexpectedly, according to a survey released Friday, as tumbling gasoline prices offset worries about unemployment and recession.

Retailers J.C. Penney and Abercrombie & Fitch added to the gloom. Both reported lower quarterly earnings and said soft conditions would extend into next year.

Stock prices were down sharply in midday trading as investors cashed in gains after a sharp rally Thursday.

The decline in retail sales was led by a huge drop in auto purchases, but sales of all types of products from furniture to clothing fell as consumers retrenched.

The 2.8 percent drop marked the fourth consecutive monthly decline in retail sales and was much bigger than the 2 percent fall economists expected.

“What you are seeing now is the turmoil in the credit and funding markets playing out into the consumer sector,” said Kevin Flanagan, fixed income strategist, global wealth management at Morgan Stanley in Purchase, New York.

The weakness was led by a 5.5 percent plunge in auto sales, the biggest drop since August 2005. Auto companies reported unit sales fell to the lowest level in 17 years as potential buyers, frightened by all the turmoil on Wall Street, stayed away from auto showrooms.

Excluding autos, retail sales fell by 2.2 percent, also a record decline, underscoring the widespread weakness last month.

“Consumers went into hibernation in October while concerns about the economy were at a peak,” said Rosalind Wells, chief economist for the National Retail Federation. “As economic uncertainty went from bad to worse, shoppers pulled back on everything but the basics to weather the storm.”

Consumer spending accounts for two-thirds of total economic activity, and weakness in this area was the major factor dragging down overall economic growth in the July-September quarter. The gross domestic product fell 0.3 percent at an annual rate during the third quarter, the strongest signal yet that the country has fallen into a recession.

In a bit of bright news, consumer sentiment edged up in early November. The Reuters/University of Michigan Surveys of Consumers said its index of confidence rose to 57.9 from 57.6 in October. Despite the rise, sentiment remains at depressed levels, with the index below the lowest levels hit during the depths plumbed during the last two recessions.

"Lower gas prices and sizable discounts at retailers helped to slightly improve consumers' assessments of current economic conditions, while higher unemployment and a deepening recession dimmed their expectations for future gains," the report said.

The index came in above economists' expectations of 56.0, according to the median of forecasts in a Reuters poll.

However, business inventories dropped in September by the greatest amount in more than three years, a possible sign of falling confidence in the face of a worsening economic slump.

Many economists believe the nation's GDP will drop sharply in the current October-December period and will continue falling through the first two quarters of next year. They are expecting that the financial crisis, the worst in seven decades, will produce the country’s worst recession since the 1981-1982 downturn.

The government reported last week that the unemployment rate shot up to 6.5 percent in October, and many economists believe it will top 8 percent before the economy starts to mount a sustained rebound.

The retail sales report showed that sales at general merchandise stores, the category that includes big chains such as Wal-Mart and department stores, fell by 0.4 percent, while sales at specialty clothing stores were down a bigger 1.4 percent.

Circuit City, the No. 2 U.S. consumer electronics retailer, filed for bankruptcy on Monday just weeks before the start of the crucial holiday shopping season, as its vendors tightened credit and shoppers closed their wallets.

Sales at furniture stores dropped by 2.5 percent, with sales at appliance stores and sport goods stores also showing declines.

One of the few areas to show an increase was the category that includes restaurants and bars which posted a small 0.3 percent gain, perhaps reflecting the desire of some to seek solace during turbulent economic times.


quote from www.msnbc.msn.com

Point Strategy

The success of a company depends on the strategies implemented, but sometimes seemed from the outside strategy from this small. Even things that are sometimes small changes can make a big accidentally. If this happens in the company, the company will be successful in sales. This incident occurred on the Wolverine, the manufacturer of shoes with the Hush Puppies brand. Classic suede shoes with the sole light of raw rubber is made in United States sales decreased sharply, to only 30,000 pairs per year and most of the shops or stalls, a simple outlet in a small town far from the crowd. Wolverine think even the company to stop production.

Suddenly, in late 1994 and early 1995 a miracle happened. In the event the opening of a branch of fashion houses, two executive Hush Puppies, Owen Baxter and Geoffrey Lewis met with a fashion designer from New York who relaxed in the discussion told them that the classic Hush Puppies suddenly popular in the hipster clubs and cafes in the center of the area Manhattan business. “Some shops of goods used in the Village and Soho sells shoes made us. Many of those who invade the small stores that buy everything “said Owen Baxter. “Isaac Mizrahi also wear Hush Puppies” said the fashion designer. For some of the old story, the story of Lewis Baxter and the only joke. For those not reasonable if the shoes are so behind the days suddenly become famous.

Fashion designer John Barlett, the use Hush Puppies in the Spring collection. Then followed, Anna Sui, which is used for the presentation of clothing. Jooel Fitzgerald make balloon and install a seven and a half meters in the form of soft furry dog children, short-legged and long-ear is a symbol of the Hush Puppies brand. Fitzgerald even install symbols on the roof of the store at Hollywood and clear in its art gallery to be a special boutique Hush Puppies. When it is paint and arrange the shelves, actors Pee-Wee Herman to come and ask a few pairs are provided. “Promotion of mouth to mouth, really powerful” said Joel Fitzgerald.

In 1995, Hush Puppies sold 430,000 pairs of next year and can sell four times in 1997 and sold more of the Hush Puppies ultimately strengthen itself as a fashion trend completions youth in the United States. Hush Puppies Cool Street also won the award best from the Council of Fashion Designers in a reception dinner at Lincoln Center and president of the company’s board stage with Calvin Klein and Donna Karan to receive the award on the cut Hush Puppies.
Successful sale of Hush Puppies shoes, only because teenagers who accidentally in the East Village and Soho that only a handful only. Teenagers are, whoever they do not intend promote. They put on shoes is merely just want to appear different. However, somehow something that is not intentionally spread to other teenagers until finally there was the two-mode use commodities to offer them another. These shoes appear on the surface because the accident. Shoes reaches certain point because of the popularity of Hush Puppies is said by Malcolm Gladwell reached tipping point. Prayer can change something that is not possible, something that becomes extraordinary. Prayer is followed by a hard business that can make the tipping point.

In 1995, Hush Puppies sold 430,000 pairs of next year and can sell four times in 1997 and sold more of the Hush Puppies ultimately strengthen itself as a fashion trend completions youth in the United States. Hush Puppies Cool Street also won the award best from the Council of Fashion Designers in a reception dinner at Lincoln Center and president of the company’s board stage with Calvin Klein and Donna Karan to receive the award on the cut Hush Puppies.
Successful sale of Hush Puppies shoes, only because teenagers who accidentally in the East Village and Soho that only a handful only. Teenagers are, whoever they do not intend promote. They put on shoes is merely just want to appear different. However, somehow something that is not intentionally spread to other teenagers until finally there was the two-mode use commodities to offer them another. These shoes appear on the surface because the accident. Shoes reaches certain point of popularity because it is not accidental, according to Malcolm Gladwell said reaching tipping point. Prayer can change something that is not possible, something that becomes extraordinary. Prayer is followed by a hard business that can make the tipping point.

Actualization made by the world fegures

Abraham Maslow examines the figures of the world’s people called extraordinary. These figures among others, George Washington, Abraham Lincoln, Thomas Jefferson, Albert Einstein, Eleanor Roosevelt, Goethe, DT SUSUKI, Benjamin Franklin, William Russell, Jane Addams, William James and figures of the other world. These people have been called to do himself actualization. Features the most universal and the public from these figures is their ability to see life with a clear view of what life is not according to their desire, be patient, be more objective on the results of their observations, personal desires are not misleading their observations, have the ability far above average in terms of assessing the appropriate people in the dive and falsity. Generally, the choice of partner in their marriage far better than average, even if not perfect.
Owing to the perception that they are powerful, figures that have been self-actualization do this more firmly and have a more clear understanding of right and wrong. They predict more telling of events that will occur. The ability to see efficient, more accurate rate on those “a man full of” this was also to infiltrate the life of other many, in the form of understanding not only of the people but the art, music, issues and political philosophy. Figures are unable to see the reality and reality-hidden in a more permissive confusing nimble and more precise than the average person.
However, they are humble, able to listen to other people with full patience, would acknowledge that they do not know everything and want to learn from other people. Other people will be able to teach them something. Perception is a powerful part of the birth and in understanding better about themselves. This concept can also be depicted as a simple nature in children and lacking ostentation. Children often listen without using the previous draft, or the previous assessment. As the children of the world with wide eyes, far from critics and without sin, to observe the problem is, without challenge or demands of the matter.
God: “O Moses, if you understand why I speak directly to you.” Moses: “You Know Most of it all.” God: “I know every human heart, but did not see a more humble, such as hearts, because it’s having a direct talk.” That is the word of God that said by Kaa’ab Al-Ahbar.