results

WellPoint Results…

November 3, 2010

WellPoint Results…

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Mesoblast Limited (ASX:MSB) Presented Positive Results From Phase 2 Lumbar Fusion Trial At International Investor Conference

October 20, 2010

Mesoblast Limited (ASX:MSB) Presented Positive Results From Phase 2 Lumbar Fusion Trial At International Investor Conference

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Mesoblast Limited (ASX:MSB) Presented Positive Results From Phase 2 Lumbar Fusion Trial At International Investor Conference

October 20, 2010

Mesoblast Limited (ASX:MSB) Presented Positive Results From Phase 2 Lumbar Fusion Trial At International Investor Conference

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BNY Third Quarter Results…

October 19, 2010

BNY Third Quarter Results…

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Venus Metals Corporation Limited (ASX:VMC) Received Further Highly Encouraging Gravity Survey Results At Mt Morris Iron oxide-Copper-Gold/Base Metal Target

October 17, 2010

Venus Metals Corporation Limited (ASX:VMC) Received Further Highly Encouraging Gravity Survey Results At Mt Morris Iron oxide-Copper-Gold/Base Metal Target

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Venus Metals Corporation Limited (ASX:VMC) Received Further Highly Encouraging Gravity Survey Results At Mt Morris Iron oxide-Copper-Gold/Base Metal Target

October 17, 2010

Venus Metals Corporation Limited (ASX:VMC) Received Further Highly Encouraging Gravity Survey Results At Mt Morris Iron oxide-Copper-Gold/Base Metal Target

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Video: Seattle Genetics’ Siegall `Excited’ by Cancer Drug Data: Video

October 11, 2010

Oct. 11 (Bloomberg) — Clay Siegall, chief executive officer of Seattle Genetics Inc., discusses the results from a clinical trial of its SGN-35 drug for treating anaplastic large cell lymphoma. The drug, also known as brentuximab vedotin, uses an antibody to home in on cancer cells. Siegall, speaking with Betty Liu and Adam Johnson on Bloomberg Television’s “In the Loop,” also discusses the prospects that his company may become a takeover target. (Source: Bloomberg)

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Arielle Ford: The Secret Weapon of Success: Grow Your Profits With Testimonials

October 5, 2010

I am pleased to introduce my good friend, Mike Koenigs, as a guest contributor on my blog this week. Mike is an extraordinary marketing expert who helps authors, experts and speakers build their platforms to achieve higher levels of success. The most important thing that you can do to build your platform, get media attention, score a book deal, and ultimately, sell your product or service, is to gather effective customer testimonials and proof that what you’re offering actually works. Whether your content is about relationships, financial success, weight loss or peak performance, you need great testimonials to prove that your system produces extraordinary results for ordinary people . The power of testimonials lies in our basic human nature, our inclination to seek leaders and solutions to our problems. Simply put, we do things that we see other people doing, particularly when those people demonstrate that they’ve successfully achieved a desirable goal. That’s called “social proof” and it’s an incredibly powerful way to influence people. Exceptional testimonials don’t just prove that what you’re offering produces the results your customers desire, they also turn you and your “ordinary” clients into superstars. Plus, publishers love them! I learned the importance of testimonials the hard way, thanks to a mistake that cost me $10 million over ten years. Throughout my career, I’ve been fortunate to help big brands like Sony, Columbia, Tri-Star, BMW, Warner Brothers, Mazda, Domino’s Pizza, and General Mills take their marketing into the 21st century. Unfortunately, in my early days I forgot to collect client testimonials to prove that my own services delivered the results I was promising. For that I paid a high price, both in time–months spent selling my services to potential new clients — and in countless missed opportunities that could have multiplied my bottom line — with NO EXTRA WORK. Determined to remedy my error and kick my own marketing into high gear, I’ve since spent many hours studying testimonials, watching infomercials, reading books and through years of trial and error, developing a formula for collecting highly effective customer testimonials. That formula has brought me and my clients tremendous success — to the tune of many millions of dollars. In fact, Brian Tracy, the Tony Robbins Companies and many other thought leaders have adapted my formula and continue to use it themselves. I’d like to share it with you so you can avoid the frustration and failure I experienced. Working with authors, it’s clear that the most common mistake they make is not collecting quality testimonials, social proof or setting up an effective marketing system from the start . As I’ve experienced firsthand, it’s a mistake that can literally cost you your career. The step-by-step testimonial formula I use for my business and my clients, which is laid out in detail in the “How To Make A Perfect Testimonial” guide that you can download below, works in any business, any personal development product, any coaching, any spiritual practice, etc. The basic principles behind my formula are simple. Your testimonials should: Focus on ordinary people with ordinary problems who get extraordinary results quickly and easily without adjusting a huge amount of their lifestyle; and Answer three questions: Is it easy? Does it work? Can I do it? (Sound familiar? Those are the same questions cosmetics direct marketer Mary Kay insisted every customer needs to have answered to be persuaded to buy.) My “How To Make A Perfect Testimonial” guide includes everything you need to gather top-notch testimonials, including the ideal length of your testimonials, the three critical components of highly effective testimonials, as well as a template and release form you can quickly adapt to your needs. Download my in-depth testimonial guide free here . Even if you don’t need it for yourself, be sure to pass it along to colleagues and friends. You’ll be the first person they invite to the party after they sign a six-figure book deal! Arielle Ford has launched the careers of many NY Times bestselling authors including Deepak Chopra, Jack Canfield, Mark Victor Hansen, Neale Donald Walsch & Debbie Ford. She is a former book publicist, literary agent and the author of seven books. To learn how to get started writing a book please visit: www.HowToWriteMyBook.com

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Oracle First Quarter Results…

September 17, 2010

Oracle First Quarter Results…

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PHOTOS: In-N-Out, Five Guys Tops, McDonald’s Dead Last In Consumer Reports’ Fast Food Burger Rankings

September 8, 2010

Consumer Reports ‘ October issue runs the results of their fast food burger survey , taken by 28,000 of their online subscribers. The respondents ranked 18 fast food burgers on a scale of 1 to 10, and the final results of the survey, along with a photo of each candidate, is below. In-N-Out Burger and Five Guys shared the top honors, each earning an average score of 7.9. You may remember this same burger duo from last month’s Zagat fast food survey, where Five Guys edged out In-N-Out for their best fast food burger crown . The mega-chain trio of McDonald’s, Jack in the Box, and Burger King rounded out the very bottom of Consumer Report ‘s list, lending some credibility to this set of burger rankings (though we can’t speak for some of the smaller chains in the middle — Back Yard Burgers, Checkers, Krystal anyone?). Below are the complete rankings from first to last, with the overall score (on a scale of 1-10) they each received. How do these burgers stack up for you ?

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ADX Energy Limited (ASX:ADX) Results from the First Target Formation At The Lambouka-1 Well

August 15, 2010

ADX Energy Limited (ASX:ADX) Results from the First Target Formation At The Lambouka-1 Well

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Video: LaMothe Says Affluent Survey Shows Retirement Delays: Video

July 28, 2010

July 28 (Bloomberg) — Lyle LaMothe, head of U.S. wealth management at Merrill Lynch & Co., discusses the Affluent Insights Quarterly survey and the implications of the results for respondents’ financial strategies. LaMothe speaks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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Video: Rosner Says EU Stress Tests `Weak,’ Banks Need Capital: Video

July 26, 2010

July 26 (Bloomberg) — Joshua Rosner, an analyst at Graham Fisher & Co., talks with Bloomberg’s Lori Rothman about the results of the European Union’s stress tests for banks. Jean-Claude Juncker, who heads the group of euro-area finance ministers, says the tests have shown a “robust” European banking industry.(Source: Bloomberg)

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Video: EBF’s Ravoet Says Bank Stress Test Results `Comforting’

July 26, 2010

July 26 (Bloomberg) — Guido Ravoet, secretary general of the European Banking Federation, talks about the results of stress tests on 91 European banks. He speaks with Andrea Catherwood on Bloomberg Television’s “The Pulse.”

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Video: Rabobank’s Foster Discusses European Bank Stress Tests: Video

July 26, 2010

July 26 (Bloomberg) — Adrian Foster, head of financial-markets research for Asia at Rabobank Groep NV in Hong Kong, talks with Bloomberg’s Linzie Janis about the results of stress tests on European banks and the outlook for the region’s economies. European regulators found that seven banks need to raise a combined 3.5 billion euros ($4.5 billion) of capital. Germany’s Hypo Real Estate Holding AG, Agricultural Bank of Greece SA and five Spanish savings banks didn’t have adequate reserves to maintain a Tier 1 capital ratio of at least 6 percent in the event of a recession and sovereign-debt crisis, lenders and regulators said on July 23. (Source: Bloomberg)

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Video: Redeker Says Stress Tests Give Analysts `Important’ Data

July 25, 2010

July 26 (Bloomberg) — Hans-Guenter Redeker, global head of currency strategy at BNP Paribas SA, talks about the results of the European bank stress tests. He speaks from London with Maryam Nemazee on Bloomberg Television’s “Countdown.”

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Video: Spain’s Campa Sees Stress Tests Helping Boost Confidence: Video

July 23, 2010

July 23 (Bloomberg) — Spanish Deputy Finance Minister Jose Manuel Campa talks with Bloomberg’s Manus Cranny about the results of the European Union’s bank stress tests. Campa says the publication of Spain’s stress tests would help build confidence, even as he doesn’t expect a big market reaction to the data. Campa speaks on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

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EU Bank Stress Tests: 7 Banks Fail

July 23, 2010

LONDON — All but 7 of 91 European banks passed the much-anticipated “stress tests” aimed at showing Europe’s banking system is sound enough to weather the continent’s debt crisis – an outcome that officials hoped would forestall further market turmoil. It had been thought that some banks needed to fail for the exercise to be accepted as credible, and some analysts still argued that the results showed the tests weren’t rigorous enough – the euro was trading flat on the day after the release of the results at just below $1.29. If financial markets take the view that the tests were not tough enough when European trading resumes Monday, then the exercise could make matters worse – and further expose the EU to charges that it has failed to rise to the debt crisis within its borders. “The stress tests do not seem that stressful and it is looking more like a political whitewash rather than a genuine attempt to reassure financial markets that eurozone banks have balance sheets that could really withstand sovereign risk shocks,” said Neil MacKinnon, global macro strategist at VTB Capital. “They are delaying the day of reckoning,” said MacKinnon. Policymakers in Europe hope the results will reassure markets worried about hidden bank losses from the crisis. They were quick to laud the results as a resounding vote of confidence in Europe’s banking system. The European Union said the results “confirm the overall resilience” of the continent’s banking system. Christine Lagarde, France’s finance minister, said the tests were “tough” and “very comprehensive and as a result I would suggest that those results should be very credible and should raise the confidence in European banks.” The Committee of European Banking Supervisors, the little-known regulator charged with conducting the stress tests, said the seven banks would see their capital positions fall too low for them to weather a steep fall in the price of government bonds many of them hold. This worst-case scenario dubbed “sovereign shock” still stopped short of an outright debt default by an EU government and has made the tests less convincing to some, since many analysts still predict Greece will eventually have to restructure its debt – a polite word for default, under which creditors are paid over a longer period of time. The bank examiners said government default was precluded by an EU rescue fund to backstop countries in financial difficulty. Germany’s already-nationalized lender Hypo Real Estate Holding AG failed the strength test, but that had been widely expected. So far, the bank, which does not expect to return to profit before 2012, has received capital injections worth euro7.7 billion ($10 billion) from the German government’s bank rescue fund and loan guarantees of more than euro100 billion. There had been speculation in the run-up to the publication of the results that some of Germany’s regional banks – the landesbanken – would fail to clear any stringent hurdles. As it was, only NordLB came close to joining Hypo but barely scraped by. As expected, Spain notched up the most casualties, with five of its small savings banks – the so-called cajas – deemed as having insufficient capital to deal with future adverse shocks following the collapse of the country’s property boom. The five Spanish banks – none of them listed on stock markets – were Diada, Unnim, Espiga, Banca Civica, and Cajasur, which was bailed out by the Bank of Spain in May. Greece’s ATE bank failed and confirmed it would go ahead and proceed with a capital increase, which will involve the highly indebted Greek government itself, the main shareholder. In total the seven banks have to raise euro3.5 billion to shore up their finances, CEBS said. That’s far lower than some analysts had been predicting. But the supervisors said Europe’s banks have, over the past couple of years, gone a long way to shoring up their balance sheets. Mansoor Mohi-uddin, managing director of foreign exchange strategy at UBS, is unconvinced by the whole process, contrasting it with the United States, where similar tests last year resulted in ten of the 19 banks being tested requiring to raise $75 billion. “After economists, journalists, credit rating agencies and officials spend the weekend analyzing the results, the currency markets are likely to react negatively on Monday,” said Mohi-uddin. Anxiety about Europe’s banks mounted in tandem with the government debt crisis, which eventually led to euro110 billion ($142 billion) international bailout of Greece and a $1 trillion backstop for other troubled governments if they need it. The worry was the banks were holding government bonds from the likes of Greece, especially as their finances had already been battered by the recession. Banks became more reluctant to lend to each other and many of Europe’s banks became more dependent on emergency funds from the European Central Bank for much of their day to day needs. ____ Associated Press Writers Juergen Baetz in Berlin, Greg Keller in Paris, Elena Becatoros and Derek Gatopoulos in Athens, Barry Hatton in Lisbon, and Ciaran Giles in Madrid contributed to this story.

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Video: Holland Says Germany Is a `Beacon of Growth’ in Europe: Video

July 22, 2010

July 22 (Bloomberg) — Michael Holland, chairman of Holland & Co. LLC, talks about the outlook for the U.S. and European economies. Holland and Richard Ilczyszyn, a senior market strategist at Lind-Waldock, also discuss the outlook for the results of stress tests for European banks. They talk with Matt Miller, Carol Massar and Dominic Chu on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

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Simon Sinek: Blinded By Their Own Product: Starbucks Is Losing Its Buzz

July 14, 2010

Starbucks was founded with a clear sense of Why – that purpose, cause or belief that goes beyond the products we make or the services we offer. At its founding, it was all about the “third space,” that space between work and home. When Americans chose to hang-out outside of home or work, Starbucks wanted to be the place they hang-out at. And they for many years, they were. 450mcdonalds11_billboard1 But, like so many companies that make it big, Starbucks forget the reason it was founded and started to think it was their product that made them successful. Put simply, Starbucks has lost its Why. This is significant, because it is the Why that is the source of great innovation in a company. It is that founding purpose that gives a company a filter – clarity about the things they should do and the things they shouldn’t do. If the filter gets fuzzy, then the ability to see clearly goes away. And if the ability to see clearly goes away, then how will a company know if they are traveling in the right direction? Without a clear sense of direction, there is increased focus on product tactics and product strategy and the blinding effect takes hold. Unable to see beyond product will cause the results to falter. As the results falter, the focus on the the product becomes more intense…and so the vicious cycle begins. Starbucks was founded around the experience and the environment of their stores. Starbucks was about a space with comfortable chairs, lots of power outlets, tables and desks at which we could work and the option to spend as much time in their stores as we wanted without any pressure to buy. The coffee was incidental. With that clear filter, it’s easy to see the things Starbucks should and shouldn’t do. It’s easy to see opportunities to enhance the experience that have nothing to do with coffee. With a clear sense of Why, it makes perfect sense that Starbucks should offer free WiFi to their “guests.” But the haze over Starbuck’s filter has created product blindness and, these days, Starbucks misses the obvious; they didn’t offer their guests free WiFi…McDonald’s did. In January of 2010 McDonald’s , just one of the many companies that has capitalized on Starbucks fuzzy Why, started offering free WiFi in their all their stores. Feeling the pressure, Starbucks was forced to follow suit six months later. That a burger joint credited with pioneering the fast-food industry — an industry focused on getting customers in and out as quickly as possible — forced Starbucks to adjust their store experience is a big deal. Just as Apple doesn’t compete with any other computer companies or Harley-Davidson isn’t just another motorcycle, Starbucks shouldn’t be lumped in with everyone that sells coffee. But these days they are, and they have themselves to blame for it. Starbucks has forgotten about the third space. It has become obsessed with coffee and brushed aside Why they are selling coffee in the first place. Blinded by their own product and distracted from their founding purpose, it was Starbucks who invited lots of other players to the table and reduced their own value in the lives of Americans. We can get coffee anywhere, but not everywhere makes a good third space. If Starbucks wants to make it about the product and not the experience, then they open themselves up to even more competition and even more attacks. At the end of the day, coffee isn’t worth $4…but an experience and a comfortable environment is. Product blindness and missing the obvious is just one symptom of a fuzzy Why. Another is when a company gets distracted by the actions of the competition. Though I haven’t talked to anyone from Starbucks about this, I’ll bet good money that they have become increasingly interested in what McDonald’s or Dunkin’ Donuts is doing these days. Obsessing about what everyone else is doing over what you are doing is like driving down the highway watching the drivers to the left and right of you. Sure you’ll be able to see how fast they are driving and in what direction…the problem is you won’t see where you’re going. Companies with a clear sense of Why set the tone and direction in their respective industries. They lead and others look to follow them. Suffering severe product blindness, however, these days Starbucks is looking for others to follow.

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Video: Wall Street Fix Seen Ineffectual by 4 Out of 5 in Poll: Video

July 14, 2010

July 14 (Bloomberg) — Americans harbor doubts that a financial-regulation bill about to be passed by Congress will do what President Barack Obama says it will: help avoid another crisis and make their finances safer. Bloomberg’s Monica Bertran reports on the results of a Bloomberg National Poll conducted July 9-12. (Source: Bloomberg)

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Wenonah Hauter: Is BP the Fox Guarding the Henhouse?

July 11, 2010

The Administration this week demanded that BP present them with detailed plans surrounding their newest Gulf oil cleanup strategy, including information on the company’s plans for limiting dispersant usage. While this is a timely order, especially in light of BP’s announcement that many Gulf responders were exposed to a now-discontinued version of Corexit (a controversial dispersant linked to chronic health problems that BP used in cleanup efforts despite orders to stop), it’s unlikely that BP’s response will answer another, more critical question: Why should BP provide information on their dispersant usage when the Environmental Protection Agency (EPA) has stopped demanding this information, and until now, BP has willfully and without consequence defied much of what the EPA has demanded they do? Immediately following the spill, BP took the liberty to overrule the EPA’s order to cease using the controversial dispersant Corexit. The company continues to use the dispersant, and for a time, was even using the now-discontinued version that they just admitted may have poisoned up to 20 percent of offshore responders . The EPA, in turn, has responded to BP’s insolence by rephrasing their directive and ordering that dispersant usage be ramped down. Since then, BP has ignored that directive, pumping millions of gallons of the chemical into the Gulf while the EPA continues to fail to regulate them. As of late, the EPA appears to have developed a “if you can’t beat ‘em, join ‘em” mentality. Last week BP (under the title ” Deepwater Horizon Incident Joint Information Center “) and the EPA issued a joint press conference on the results of preliminary Corexit testing on marine life. Perhaps not surprisingly, these tests stopped far short of mimicking the Gulf environment, lacking both crude oil and saltwater. The tests also failed to include marine organisms smaller than shrimp or silverfish and did not determine the effects of long-term (over 96-hour) exposure. Although the results of the tests were “announced” last week, this type of dispersant data is not new. Dispersant manufacturers are already required to submit similar data (and to test the toxicity of their dispersants combined with oil) if their product is to be included in a national list of allowable dispersants. The results from these previous tests have already revealed that there are seven dispersants that are more effective and less toxic to both shrimp and fish when combined with oil. And while one of the products, called Dispersit, rated nearly twice as effective and between half and a third as toxic as Corexit (when mixed with oil), the EPA never ordered BP to use it instead. So why, when these tests have been conducted, are BP and the EPA announcing that they will be presenting the results of a similar test (combining dispersants and oil) in the coming months? Why is it taking months from the time the EPA attempted to ban Corexit to verify data that is already available and to announce information regarding a known toxic chemical? If it feels like we’re being given the run-around, it may be because we are. It is not surprising that some in industry would want to use Corexit. According to media reports , Nalco, the producers of Corexit, stand to make $800 thousand to $6.5 million per day from dispersant sales. Nalco’s board of directors includes a former BP executive and board member. What is surprising, however, is that a major federal agency, tasked with protecting the public, would allow industry to call the shots. It is an outrage that Corexit continues to jeopardize both the health of the public and of the Gulf marine life exposed to the chemical. Both the EPA and BP are to blame, with the former allowing the latter to shoot first, ask questions later (and act surprised when the answer involves documented toxicity). This is why, despite the Administration’s claim that they are demanding answers from BP, it is we who must demand that our government stop asking BP what they intend to do and start telling them what they are required to do.

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John Irons: Listening to America Speak(s) on the Budget

July 2, 2010

On June 26th, a group called America Speaks held a series of day-long “town meetings” across 60 cities, engaging 3,500 people in a discussion about the federal budget and long-term deficits . This effort has been criticized by some — including Dean Baker and Roger Hickey — and defended by others — including Archon Fung — on HuffPost. The materials and process were far from perfect, but the results do show some interesting trends. In particular, participants believed that most of the adjustment should be through revenue increases and reductions in defense spending. As part of the content review process, I provided some feedback on draft documents (my boss, EPI President Lawrence Mishel, was part of the National Advisory Committee). While the background and options documents were not ultimately what I would have written, they did provide valuable context and presented participants with a wide (though incomplete) range of options. Despite the shortcomings in the materials and process, I do believe that the exercise had merit (keeping in mind that the results should be viewed with caution, since the participants–who sat though a day of budget discussions–are unlikely to be representative of a typical voter). America Speaks has not yet issued a final report, but a couple things jump out from the preliminary nation-wide results: People realize that the current economy is in poor health, and that there is a role for government to help spur the recovery: 61% of the participants thought that the government should be doing more to strengthen the economy. Participants relied heavily on revenue increases and defense reductions to narrow the budget gap. About three-fifths (59%) of the adjustments that received more than 50% support were on the revenue side of the budget. Three fourths (75%) of the adjustment was either revenue increases or defense reductions. People supported tax increases on the wealthy, on corporations, and on stock transactions. The most popular general revenue option was a 5% surcharge people with incomes of more than1 million per year. They also supported a carbon tax. On social security, the two options that received majority support included an increase in the retirement age to 69 and to increase the cap on income subject to the payroll tax. Given the savings in these options, 65% of the fiscal adjustment was on the revenue side. (Currently, the social security payroll tax is only levied only on income below a certain cap, currently106,800, with income above that about not subject to the payroll tax.) — The option to increase in the cap on the payroll tax was modest: increasing the cap so as to cover 90% of earnings economy-wide. Participants were not given the option to go higher or to eliminate the cap altogether. Given the strong support for this option (85%), I would expect strong support for an even greater revenue adjustment. In fact America Speaks reports that many participants provided additional feedback suggested removing the limit altogether. –The option to raise the retirement age to 69 received only a slight majority, 52%. However this result is at odds with other polling on the issue – for example a 2005 poll by the Pew Research Center found that “…there is considerable public opposition to proposals that would raise the retirement age (72% opposed)” A more recent poll by AARP also confirms this opposition with just 33% supporting an increase in the retirement age. The America Speaks results may come from the fact that participants had higher incomes (and likely more education) than the public as a whole, meaning they might work in less physically demanding jobs on average. Cuts to defense spending gained more support than cuts to other items in the budget, with 85% supporting some cuts and 51% hitting the max option of a 15% reduction. Additional feedback indicated many wanted more. Reductions in health spending and other parts of government were more modest. There was less than 50% support for increases greater than 5% in each category. It is important to note that participants were not given specific options in these cases – there was no ability for participants to indicate how they would prefer to achieve these savings. Would they cut education? Highway spending? Farm subsidies? Foreign aid? Increase co-pays? Decrease coverage? We can’t say. Thus, as a practical matter, these responses provide very little guidance to policymakers about people’s priorities. Finally, it should be noted that the adjustments that received over 50% support only cover about two-thirds of the $1.2 trillion in costs that participants were asked to save by 2025. America Speaks reports that less than half of the 350 working groups achieved the stated budget target. The deficit issue is often presented as one in which policymakers lack the will to tackle a difficult issue. This may still be the case, but it is also clear that there is currently no national consensus about the set of measures that need to be taken to fully address the issue. It is clear that much more work needs to be done to develop budget options and to present these to the public; however, it is also clear that there are many options currently on the table that have significant support and that would move us towards long-run sustainability.

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Lawrence Jacobs: Deficits, Social Security, and the American Public

June 29, 2010

By Benjamin I. Page and Lawrence R. Jacobs Memo to Pete Peterson: Americans don’t want cuts Social Security – and here’s the proof. Deficit-hawk and investment banker Pete Peterson has devoted a substantial part of his $2.8 billion fortune to pushing for cuts in entitlements like Social Security, in the name of deficit reduction. His Foundation lavishly funded the AmericaSpeaks “town hall” forums held on Saturday, the results of which will be presented to the national Deficit Commission this week — purporting to tell what the American public thinks about various deficit-reduction options. The AmericaSpeaks forums suffered from serious defects as measures of public opinion. Yet the results, perhaps to Peterson’s surprise, correctly indicated that Americans are strongly committed to Social Security. Large majorities oppose cutting Social Security benefits, even for the sake of deficit reduction. The AmericaSpeaks town halls failed to convene a representative sample of Americans: they opened their doors to self-selected political activists with extreme views, possibly hoping to draw Tea Party backers. Their intense emphasis on reducing budget deficits “primed” participants to focus on deficits rather than on the needs of retirees when evaluating Social Security policy. The information provided to participants was one-sided, speculative, and in some cases quite misleading: it overstated the “crisis” in Social Security funding, understated the current burden of payroll taxes on ordinary workers, and failed to convey the extent to which millions of retirees count on stable, dependable Social Security benefits. The policy options that were discussed tilted rightwards. These town halls — like deliberative forums in general — should not be taken as accurate measures of “true” or “deliberative” public opinion. Carefully designed and carefully interpreted opinion surveys, based on representative samples from the whole country and carried out in natural settings rather than the artificial and manipulable “fish bowl” of town hall meetings, can do a much better job of revealing what the American public thinks. Remarkably, however, AmericaSpeaks got lucky (or perhaps, from Peterson’s point of view, unlucky.) Despite all the biases, on several issues town hall participants came up with opinions not very different from those that have been expressed by majorities of Americans in dozens of well-designed national surveys. Participants opposed cuts in Social Security benefits, insisting that benefits must be preserved when balancing the budget. They wanted to strengthen the economy, favoring the current stimulus bill ( stalled in the Senate ) by a margin of 51% to 38%. In order to reduce budget deficits, most favored cutting defense spending and enacting progressive tax measures: raising the payroll tax “cap” so that incomes over $106,800 are subject to the tax (85% in favor); raising high-end corporate and personal income taxes; and imposing new taxes on carbon and on securities transactions. Only on the Social Security retirement age did the results conspicuously stray from actual public opinion. We have carefully reviewed the best available survey-based evidence concerning public opinion on budget deficits and Social Security. It is this evidence, which provides a fuller, more representative, and more accurate picture of Americans’ thinking, that the Deficit Commission and others should pay attention to. For decades, for example, highly respected studies by the General Social Survey and the Chicago Council on Global Affairs have found large majorities of Americans wanting to expand rather than cut back spending on Social Security. In the most recent CCGA survey, for example, 69% said the program should be “expanded,” and only 10% said “cut back.” Support for Social Security is found in virtually all segments of the American population. The opinion that “too little” is being spent on Social Security is shared by majorities of Republicans, Democrats, and Independents; by majorities of men as well as women; by whites as well as African Americans or Latinos; by people with a lot of formal education as well as people with little. Most important, support is very strong among young (age 18-29) Americans, fully 63% of whom told the most recent GSS that we are spending “too little” on Social Security. The supposed generation gap on Social Security is mostly a myth. There is no intergenerational war between “greedy geezers” and the young. Even when survey questions prime respondents to focus on budget deficits, large majorities of Americans oppose the idea of cutting Social Security benefits for the sake of deficit reduction. Early this year a survey by National Review/ McLaughlin (certainly not prone to a left-wing bias) found that only 11% of Americans approved “cutting future benefits of Social Security” to reduce government spending: fully 86% opposed. Similar results have been found within the last year or so by Democracy Corps/ Greenberg Quinlan; Bloomberg; Quinnipiac; EBRI/ Greenwald, and others. When survey questions are asked in a reasonably unbiased fashion, majorities of Americans also express opposition to virtually any sort of specific cut or postponement of benefits. This includes reducing COLAs (only a bare majority would even “consider” this possibility, according to Bloomberg), or increasing the retirement age. Earlier this year, Democracy Corps/ Greenberg Quinlan found a solid 63% of Americans opposed to “allowing the Social Security retirement age for receiving full benefits to rise slowly to age 70 by the year 2020″; only 35% favored this, even when it was posed as a proposal “to help close the federal budget deficit.” To be sure, EBRI/ Greenwald found a bare, 51% to 47% majority in favor of “raising the age at which people can begin receiving full Social Security retirement benefits by one year,” but the question did not specify from what level the age would be raised: perhaps just from age 65, which the 1983 law is already doing. Thus the sole non-progressive policy option that the AmericaSpeaks forums seemed to support – raising the Social Security retirement age to 69, apparently favored by a bare majority (52%) of forum participants – may not actually be favored by a majority of Americans. On this and other questions, careful scrutiny of AmericaSpeaks’ methods is called for, including the unrepresentativeness of their participants and the biases in information presented and options discussed. Finally, abundant evidence from surveys over the years by Bloomberg , NASI, the present authors, Pew, Quinnipiace, and CBS/ NYT have all found that majorities of Americans favor raising or eliminating the payroll tax “cap” on high incomes. Most recently, Bloomberg found 78% of Americans saying that removing the cap entirely should be “considered.” Last summer, NASI found that fully 83% of Americans supported “lift[ing]” the cap “so that workers earning more than [the cap] would pay Social Security tax on their entire salary just like everyone else.” This one policy change, by itself, would erase most of the projected future deficit in the Social Security trust fund. We believe that public opinion should be taken seriously by policy makers. Indeed, elected officials ignore the public’s wishes at their peril. In assessing public opinion on deficits and Social Security, we urge that the Deficit Commission and others to take the AmericaSpeaks forums with a large grain of salt, even if they happened to come close to the truth on several points. To get a full and accurate picture of what Americans want, it is important to consult a wide range of survey-based evidence and expertise. *This post was based on the Roosevelt Institute Working Paper, “Understanding Public Opinion on Deficits and Social Security.” Full text available here . Benjamin I. Page is Gordon Scott Fulcher Professor of Decision Making at Northwestern University and coauthor (with Robert Y. Shapiro) of “The Rational Public: Fifty Years of Trends in Americans’ Policy Preferences.” Lawrence R. Jacobs is the Walter F. and Joan Mondale Chair for Political Studies and Director of the Center for the Study of Politics and Governance in the Hubert H. Humphrey Institute at the University of Minnesota. He has written numerous books and articles on public opinion and other aspects of American politics. This post originally appeared one New Deal 2.0

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Video: Fitch’s Coulton Says European Stress Tests `Beneficial’

June 18, 2010

June 18 (Bloomberg) — Brian Coulton, head of sovereign debt research for Fitch Ratings, talks about the European Union’s decision to publish the results of stress tests on the region’s lenders. He speaks with Francine Lacqua on Bloomberg Television’s “The Pulse.”

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EU Stress Tests Face Questions Over Stringency, Government Help

June 18, 2010

By Andrew MacAskill and Simon Clark June 18 (Bloomberg) — The European Union’s decision to publish the results of stress tests on the region’s lenders was welcomed by shareholders seeking more transparency. Investors still want to know how tough the terms of the tests will be. The studies will be done “ institution by institution,” French President Nicolas Sarkozy told reporters at an EU summit in Brussels yesterday. German Chancellor Angela Merkel said it was important to give “maximum transparency.” Asked how the governments would react if the tests revealed shortcomings, she said the EU has “taken precautions,” including a 750 billion- euro ($928 billion) financial backstop. “The results could be very helpful reassuring investors that the European financial system is sound,” said Andrew Milligan , the Edinburgh-based head of global strategy at Standard Life Investments Ltd ., which oversees about $221 billion. “The devil will be in the detail.” Merkel and Sarkozy rebuffed concerns from executives including Deutsche Bank AG Chief Executive Officer Josef Ackermann that publishing the tests could undermine confidence in the banks unless governments promise aid. When the U.S. carried out similar stress tests more than a year ago, it pledged to provide capital to banks that couldn’t raise it. The EU still hasn’t disclosed details of its tests, including whether they include a sovereign debt restructuring, raising concern among money managers they may not be stringent enough. “The problem with the stress testing, in most people’s opinion, is fairly serious: It’s not stringent enough,” said Ralph Silva , an analyst at London-based Silva Research Network, which specializes in financial-services firms. ‘Markets Asking’ The decision came after Spanish government officials unexpectedly pledged to publish results on individual banks, becoming the first European government to do so. International debt markets have been shut to most Spanish companies and banks as investors lost confidence in the country, Banco Bilbao Vizcaya Argentaria SA Chairman Francisco Gonzalez said June 14. “Europe needs this because the markets are asking for it,” Gonzalez said at a seminar in Santander, Spain. Bankers and their lobby groups across Europe had opposed publication. Deutsche Bank’s Ackermann said last week that releasing the stress tests would be “very, very dangerous” if government mechanisms to support European banks weren’t in place beforehand. A spokesman for the bank declined to comment. Germany’s BdB banking association, which had opposed making the findings public, changed its stance yesterday. It now says publication can “contribute to creating confidence and calming the markets” as long as it doesn’t leave “room for misinterpretation.” ‘Could be Misinterpreted’ In London, the British Bankers’ Association said it still opposes publication of data on individual banks. “The results could be misinterpreted and could lead to a run on a sound bank,” Irving Henry , the BBA’s policy director of prudential capital and risk, said in an interview yesterday. The wider European stress tests will be published in the second half of July “at the latest,” European Central Bank President Jean-Claude Trichet said yesterday. The EU hasn’t so far disclosed the test criteria. Failure to include sovereign debt exposure would “impact the credibility” of the tests, said Ian Gordon , a banking analyst at Exane BNP Paribas SA in London. “Every piece of withheld data gives skeptics reason to grumble that the tests are not transparent and therefore not meaningful.” The test criteria should include a possible decline in economic growth, a fall in house prices, the banks’ ability to fund their balance sheets, and a closing of the wholesale money markets, said Jane Coffey who helps manage $51 billion at Royal London Asset Management, including Barclays Plc stock. ‘More Confidence’ “It should give the market more confidence that they are not hiding anything, and that the banks are solidly based, and if they are not, that the problem is in a small enough number of banks,” Coffey said. “Transparency is usually good for confidence. They won’t be doing this if it was going to cause a banking collapse, I would guess.” “We need to have a region-wide assessment to quantify and compare the banks — that’s what this is all about,” said Guy de Blonay , who helps manage about 19.5 billion pounds ($29 billion) at Jupiter Fund Management Plc in London. “Governments want investors to be able to quantify and appreciate the situation on the back of official findings.” The financial strength of European nations and their banks is closely interconnected, according to Morgan Stanley analysts, who wrote in a June 16 report that countries sharing the euro and their banks are caught in a “vicious circle.” ‘Eroded Confidence’ “Sovereign rating downgrades have eroded confidence in the balance sheets of the banks, most of which own government bonds,” analysts Joachim Fels and Elga Bartsch wrote. “This, together with higher borrowing costs for fiscally challenged countries, has raised funding costs for banks in the interbank market and in the capital markets.” The EU decision comes more than a year after the U.S. released the results of stress tests it carried out on 19 financial institutions. Publication helped trigger a rally that lifted the Standard & Poor’s Financials Index 36 percent from the start of May through the end of last year. The Bloomberg Europe Banks and Financial Services Index is down 7.4 percent this year. The EU tests may have less impact on markets because of concerns about the level of government debt in Europe, Jupiter’s De Blonay said. “It’s probably not going to be as positive a reaction as in the U.S. simply because we have an overlay of sovereign risk on the banks in Europe,” he said. European Central Bank Governing Council member Axel Weber said future stress tests in the banking industry will be more comprehensive than today’s evaluations and may include government bonds. EU states should also provide a backstop “if adverse scenarios materialize,” he said yesterday. The cost of providing that backstop may still fuel concern among investors that already indebted governments were taking on too much additional borrowing, Standard Life’s Milligan said. To contact the reporters on this story: Andrew MacAskill in London at amacaskill@bloomberg.net ; Simon Clark in London at sclark4@bloomberg.net

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Video: Herrmann Says Spanish Debt Auction Results `Promising’

June 18, 2010

June 18 (Bloomberg) — Thomas Herrmann, an economist at Credit Suisse, talks about the impact of yesterday’s Spanish debt auction on investor confidence and the European Union’s decision to publish the results of stress tests on the region’s lenders. He speaks with Mark Barton on Bloomberg Television’s “Start Up.”

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European Bank Stress Tests Face Questions Over Stringency, Government Help

June 18, 2010

By Andrew MacAskill and Simon Clark June 18 (Bloomberg) — The European Union’s decision to publish the results of stress tests on the region’s lenders was welcomed by shareholders seeking more transparency. Investors still want to know how tough the terms of the tests will be. The studies will be done “ institution by institution,” French President Nicolas Sarkozy told reporters at an EU summit in Brussels yesterday. German Chancellor Angela Merkel said it was important to give “maximum transparency.” Asked how the governments would react if the tests revealed shortcomings, she said the EU has “taken precautions,” including a 750 billion- euro ($928 billion) financial backstop. “The results could be very helpful reassuring investors that the European financial system is sound,” said Andrew Milligan , the Edinburgh-based head of global strategy at Standard Life Investments Ltd ., which oversees about $221 billion. “The devil will be in the detail.” Merkel and Sarkozy rebuffed concerns from executives including Deutsche Bank AG Chief Executive Officer Josef Ackermann that publishing the tests could undermine confidence in the banks unless governments promise aid. When the U.S. carried out similar stress tests more than a year ago, it pledged to provide capital to banks that couldn’t raise it. The EU still hasn’t disclosed details of its tests, including whether they include a sovereign debt restructuring, raising concern among money managers they may not be stringent enough. “The problem with the stress testing, in most people’s opinion, is fairly serious: It’s not stringent enough,” said Ralph Silva , an analyst at London-based Silva Research Network, which specializes in financial-services firms. ‘Markets Asking’ The decision came after Spanish government officials unexpectedly pledged to publish results on individual banks, becoming the first European government to do so. International debt markets have been shut to most Spanish companies and banks as investors lost confidence in the country, Banco Bilbao Vizcaya Argentaria SA Chairman Francisco Gonzalez said June 14. “Europe needs this because the markets are asking for it,” Gonzalez said at a seminar in Santander, Spain. Bankers and their lobby groups across Europe had opposed publication. Deutsche Bank’s Ackermann said last week that releasing the stress tests would be “very, very dangerous” if government mechanisms to support European banks weren’t in place beforehand. A spokesman for the bank declined to comment. Germany’s BdB banking association, which had opposed making the findings public, changed its stance yesterday. It now says publication can “contribute to creating confidence and calming the markets” as long as it doesn’t leave “room for misinterpretation.” ‘Could be Misinterpreted’ In London, the British Bankers’ Association said it still opposes publication of data on individual banks. “The results could be misinterpreted and could lead to a run on a sound bank,” Irving Henry , the BBA’s policy director of prudential capital and risk, said in an interview yesterday. The wider European stress tests will be published in the second half of July “at the latest,” European Central Bank President Jean-Claude Trichet said yesterday. The EU hasn’t so far disclosed the test criteria. Failure to include sovereign debt exposure would “impact the credibility” of the tests, said Ian Gordon , a banking analyst at Exane BNP Paribas SA in London. “Every piece of withheld data gives skeptics reason to grumble that the tests are not transparent and therefore not meaningful.” The test criteria should include a possible decline in economic growth, a fall in house prices, the banks’ ability to fund their balance sheets, and a closing of the wholesale money markets, said Jane Coffey who helps manage $51 billion at Royal London Asset Management, including Barclays Plc stock. ‘More Confidence’ “It should give the market more confidence that they are not hiding anything, and that the banks are solidly based, and if they are not, that the problem is in a small enough number of banks,” Coffey said. “Transparency is usually good for confidence. They won’t be doing this if it was going to cause a banking collapse, I would guess.” “We need to have a region-wide assessment to quantify and compare the banks — that’s what this is all about,” said Guy de Blonay , who helps manage about 19.5 billion pounds ($29 billion) at Jupiter Fund Management Plc in London. “Governments want investors to be able to quantify and appreciate the situation on the back of official findings.” The financial strength of European nations and their banks is closely interconnected, according to Morgan Stanley analysts, who wrote in a June 16 report that countries sharing the euro and their banks are caught in a “vicious circle.” ‘Eroded Confidence’ “Sovereign rating downgrades have eroded confidence in the balance sheets of the banks, most of which own government bonds,” analysts Joachim Fels and Elga Bartsch wrote. “This, together with higher borrowing costs for fiscally challenged countries, has raised funding costs for banks in the interbank market and in the capital markets.” The EU decision comes more than a year after the U.S. released the results of stress tests it carried out on 19 financial institutions. Publication helped trigger a rally that lifted the Standard & Poor’s Financials Index 36 percent from the start of May through the end of last year. The Bloomberg Europe Banks and Financial Services Index is down 7.4 percent this year. The EU tests may have less impact on markets because of concerns about the level of government debt in Europe, Jupiter’s De Blonay said. “It’s probably not going to be as positive a reaction as in the U.S. simply because we have an overlay of sovereign risk on the banks in Europe,” he said. European Central Bank Governing Council member Axel Weber said future stress tests in the banking industry will be more comprehensive than today’s evaluations and may include government bonds. EU states should also provide a backstop “if adverse scenarios materialize,” he said yesterday. The cost of providing that backstop may still fuel concern among investors that already indebted governments were taking on too much additional borrowing, Standard Life’s Milligan said. To contact the reporters on this story: Andrew MacAskill in London at amacaskill@bloomberg.net ; Simon Clark in London at sclark4@bloomberg.net

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EU Vows to Disclose Bank Stress-Test Results, Rebuffing Industry Concerns

June 17, 2010

By Tony Czuczka and Gregory Viscusi June 17 (Bloomberg) — European Union leaders agreed to disclose how banks perform on stress tests, seeking to show investors that the financial system can withstand shocks. In reaching agreement at a summit today in Brussels, the EU leaders rebuffed financial-industry executives’ concerns that publishing the results could undermine confidence in banks. “We will do stress tests institution by institution and we’ll announce results, though I don’t know the details about how much exactly we announce, like if we release the answers to each question,” French President Nicolas Sarkozy told reporters. Results will be published in July. The decision by EU leaders came a day after an announcement by the Bank of Spain that it would make its findings public. Greece’s debt woes focused attention on Spain’s public finances and the costs of buttressing the country’s banks, including the foundation-based lenders known as “cajas” that have been hobbled by a surge in bad debts. “What’s important right now is that we have maximum transparency,” German Chancellor Angela Merkel said in a separate briefing. “If you have something to hide, it would come out into the open in the long run anyway.” Merkel said that EU leaders also agreed to pursue a banking levy and a financial transaction tax that apply worldwide, “to ensure fair burden-sharing and rein in systemic risks.” The EU will take those proposals to the Group of 20 summit in Canada later this month. U.S. Stress Tests Europe’s move on stress tests comes more than a year after the U.S. released the results of evaluations it carried out on 19 financial institutions to determine whether they needed more capital following the subprime mortgage crisis. The U.S. Treasury, whose tests measured how the biggest firms would perform if the economy worsened, promised to provide capital to banks that couldn’t raise it. Merkel sidestepped questions on how the governments would react if tests revealed shortcomings, saying the EU has “taken precautions,” including a 750 billion-euro ($927 billion) financial backstop. Publishing the results may lead to a “run on a perfectly sound bank,” the British Bankers’ Association said in a statement yesterday. Germany’s BdB banking association, which represents more than 220 private firms, initially said it opposed making the findings public. The group changed its stance today, and said publishing the results can “contribute to creating confidence and calming the markets” if done in a way that does not leave “room for misinterpretation.” Trichet ‘Happy’ European Central Bank President Jean-Claude Trichet told reporters today in Brussels that he was “happy” that EU leaders reached a consensus on stress tests, and said the results will be published in the second half of July at the latest. EU regulators are evaluating the strength of the region’s lenders after they racked up losses and writedowns during the financial crisis, leading to taxpayer-funded bailouts. ECB Governing Council member Axel Weber said future stress tests in the banking industry will be more comprehensive than the current evaluations and may include government bond markets. Questions have arisen over whether the tests would take into account risks tied to sovereign debt of Greece, Portugal and other European nations. Marking down the value of Greek bonds, even for the purposes of a test, might imply that regulators perceive a debt default as a possibility, which could further unsettle investors, according to analysts. BBVA, Santander Finding common ground on an approach to carrying out and publicizing stress tests in Europe has also been complicated by the fact that there are 27 nations in the European Union, each with its own government and central bank. Merkel said all EU countries had agreed to publish the findings. Bank of Spain Governor Miguel Angel Fernandez Ordonez announced yesterday that the central bank would make the findings public to bolster confidence in the country’s banks. The Bank of Spain, seeking to shore up its savings banks, seized a lender last month and is urging ailing cajas to complete merger plans to tap a government rescue fund. Francisco Gonzalez , chairman of Banco Bilbao Vizcaya Argentaria SA , Spain’s second-largest bank, added to concern about the nation’s lenders this week when he said capital markets were closed to most Spanish companies and banks. He advocated “doing and publishing” stress tests. “Europe needs this because the markets are asking for it,” Gonzalez said on June 14 at a seminar in Santander, Spain. Bond Sale Matias Rodriguez Inciarte , a vice-chairman at Santander, Spain’s biggest bank, told reporters today that the decision to publish results of the tests is a step toward restoring confidence in the country’s banks. Spain sold 3.5 billion euros of bonds today, the maximum set for the auction, easing concern that it will struggle to finance looming debt. Santander and BBVA rose in Madrid trading and the euro rallied. The U.S. stress tests were criticized by some analysts and economists who said they weren’t rigorous enough and others who said it could fuel investor concern. The effort forced banks including Wells Fargo & Co. and Morgan Stanley to issue common equity after the Federal Reserve released results on May 7, 2009, that showed 10 of the 19 lenders needed new capital. It also kicked off a rally that lifted the Standard & Poor’s Financials Index 36 percent from the start of May through the end of last year. To contact the reporters on this story: Gregory Viscusi in Brussels at gviscusi@bloomberg.net ; Tony Czuczka in Berlin at aczuczka@bloomberg.net

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Chrysler’s U.S. Vehicle Sales Said to Have Increased More Than 30% in May

June 2, 2010

By Doron Levin and Bill Koenig June 2 (Bloomberg) — Chrysler Group LLC’s May U.S. vehicle sales may have risen by more than 30 percent, a person familiar with the results said. The company is scheduled to release May sales figures later today. To contact the reporter on this story: Doron Levin in Detroit at dlevin5@bloomberg.net

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FINANCE AUDIO: ABM Resources NL (ASX:ABU) MD, Darren Holden Discusses Assay Results Of 20.3% Copper And 271g/t Silver

May 17, 2010

FINANCE AUDIO: ABM Resources NL (ASX:ABU) MD, Darren Holden Discusses Assay Results Of 20.3% Copper And 271g/t Silver

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Pike River Coal Limited (NZE:PRC) Special Meeting Of Shareholders Voting Results

May 9, 2010

Pike River Coal Limited (NZE:PRC) Special Meeting Of Shareholders Voting Results

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Kraft Foods Inc Results

May 7, 2010

Kraft Foods Inc Results

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Metlife Results…

April 30, 2010

Metlife Results…

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Magnetic Resources (ASX:MAU) Announces Excellent Metallurgical Test Results From Jubuk

April 27, 2010

Magnetic Resources (ASX:MAU) Announces Excellent Metallurgical Test Results From Jubuk

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Caterpillar first quarter Results…

April 26, 2010

Caterpillar first quarter Results…

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Legend Mining Limited (ASX:LEG) Cameroon Iron Ore Project Rockchip Results

April 14, 2010

Legend Mining Limited (ASX:LEG) Cameroon Iron Ore Project Rockchip Results

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Iraq Election Gives Allawi Largest Bloc of Seats; No Group Has a Majority

March 26, 2010

By Kadhim Ajrash and Caroline Alexander March 27 (Bloomberg) — Former Iraqi Prime Minister Ayad Allawi’s secular alliance won the biggest bloc of seats in parliament as his rival, Prime Minister Nuri Al-Maliki, said his second-place Shiite slate won’t accept the results. Allawi’s secular Iraqiya alliance secured 91 seats in the March 7 election, the Independent High Electoral Commission said. Al-Maliki’s Shiite Muslim State of Law alliance won 89 seats. “There is no evidence of widespread or serious fraud,” State Department spokesman Philip J. Crowley told reporters in Washington. “This marks a significant milestone in the ongoing democratic development of Iraq.” No group came close to winning the majority of the 325 seats needed to form a government, forcing talks to start on building a coalition. Those negotiations may drag on for months, hampering the Obama administration as it prepares to pull combat troops out of the country by the end of August. Al-Qaeda has threatened a new campaign of attacks against all of the parties. “It doesn’t really matter who came first and who came second because it is basically a tie,” said Julien Barnes- Dacey, a Middle East analyst at the London-based Control Risks Group. “Everything is up for grabs now.” The Iraqi National Alliance, which is pro-Iranian and led by Shiite cleric Ammar al-Hakim , came in third with 70 seats. The Kurdsitan alliance won 43 seats. Candidates will have three days to appeal the results before they are certified by the Supreme Court. Disputes The ruling coalition that emerges from talks will have to resolve long-standing disputes over federalism versus centralism, the sharing oil revenue among regions and whether to include the oil-rich city of Kirkuk in the Kurdish autonomous region in the north. As election officials were preparing to announce the results, 42 people were killed and 65 wounded in twin bombings in Diyala, north of Baghdad. Al-Maliki said after the tally was announced that the results “aren’t final” and he won’t accept them. Speaking in a news conference aired live, he said Allawi’s win wasn’t expected by the Iraqi people or political parties, and he would try to form the biggest bloc in parliament. Al-Maliki has already started talks with potential partners. Safia al-Suhail, a member of State of Law, said on March 24 that the prime minister was close to reviving an alliance with INA that swept him to power in 2005. “There are important steps that the State of Law and the Iraqi National Alliance are taking on the road to integration and creating a big bloc in the next parliament,” Suhail said. New President Allawi has also held talks with several groups, including with supporters of anti-U.S. cleric Moqtada al-Sadr and the Kurdistan Alliance, according to an interview with Asharq al- Awsat newspaper published on March 25. The Kurds, who backed al-Maliki in 2005 and hold the presidency, have yet to give any clear indications about who they will support this time. Once the results are certified, current President Jalal Talabani will have 15 days to call for lawmakers to convene and elect a speaker and two deputy speakers. A new president must then be elected, who will invite the leader of the largest bloc to form a government. The prime-minister designate has 30 days to do this. Talabani has already signaled his willingness to stay in the post. “He is the major nominee to the post of the President of Iraq and he is approved by all,” State of Law member Hassan al-Sanid said on March 24. Prime Minister Question What is less clear is the candidate for prime minister. State of Law’s Suhail said the alliance is committed to al- Maliki serving another four years, while al-Sadr supporters, who dominate the INA, have said they are against the premier staying on. Al-Maliki led a crackdown against Sadrist militias in 2008, taking back control of the main oil exporting city of Basra. Al-Qaeda in Iraq leader Abu Omar al-Baghdadi said in an internet audio message on March 19 that Iraqi political leaders would be targeted as part of a new military campaign, the SITE monitoring Group reported. Attacks have dropped from a peak between 2005 and 2007, when Iraq tipped toward civil war, though violence continues, especially in Baghdad and the northern city of Mosul. Fraud The parliamentary vote was the second since Saddam Hussein’s ouster by U.S.-led forces in 2003. Sixty two percent of the 19 million Iraqis eligible to cast ballots turned out. The United Nations envoy to Iraq, Ad Melkert, said just before the results were announced that the vote met “all reasonable demands and standards.” He called on all parties to accept the results. Most parties have made complaints of fraud, with Talabani and al-Maliki demanding a manual recount. An ideal outcome would see a new government including both al-Maliki and Allawi, Barnes-Dacey said. Neither party seems ready to “embrace this solution because of personal animosity and ambitions,” and so the most likely outcome would be an alliance between al-Maliki, the INA, and the Kurdistan Alliance, he said. Sunni Muslims are likely to be angered if Allawi is excluded from the government. A minority in Iraq, they dominated under Hussein and formed the backbone of an insurgency against U.S.-led forces after the 2003 invasion. “How they negotiate through the coming months is a test of whether they can put the Iraqi state interests above their own partisan ambitions,” Barnes-Darcey said, referring to all of Iraq’s political parties. To contact the reporters on this story: Kadhim Ajrash in Baghdadt ; Caroline Alexander in London at calexander1@bloomberg.net ;

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Allawi’s Secular Bloc Wins Narrow Victory in Iraqi Vote, Commission Says

March 26, 2010

By Kadhim Ajrash and Caroline Alexander March 26 (Bloomberg) — Former Iraqi Prime Minister Ayad Allawi’s alliance won the biggest bloc of seats in parliament, beating his closest rival by two in a narrow victory that may intensify political tensions. Allawi’s secular Iraqiya alliance secured 91 seats in the March 7 election, the Independent High Electoral Commission said. Prime minister Nuri Al-Maliki’s Shiite Muslim State of Law alliance won 89 seats. No group came close to winning the majority of the 325 seats needed to form a government, forcing them to start talks to build a coalition. Those negotiations may drag on for months, hampering the Obama administration as it prepares to pull combat troops out of the country by the end of August. Al-Qaeda has threatened a new campaign of attacks against all of the parties. “It doesn’t really matter who came first and who came second because it is basically a tie,” said Julien Barnes- Dacey, a Middle East analyst at the London-based Control Risks Group. “Everything is up for grabs now.” The Iraqi National Alliance, which is pro-Iranian and led by Shiite cleric Ammar al-Hakim , came third with 70 seats. The Kurdsitan alliance won 43 seats. Candidates will have three days from tomorrow to appeal the results before they are certified by the Supreme Court. Disputes The ruling coalition that emerges from talks will have to resolve long standing disputes over federalism versus centralism, sharing oil revenue among regions and whether to include the oil-rich city of Kirkuk in the Kurdish autonomous region in the north. As election officials were preparing to announce the results, 42 people were killed and 65 wounded in twin bombings in Diyala, north of Baghdad. Al-Maliki said after the tally was announced that the results “aren’t final” and he won’t accept them. Speaking in a news conference aired live, he said Allawi’s win wasn’t expected by the Iraqi people or political parties and he would try to form the biggest bloc in parliament. Al-Maliki has already started talks with potential partners. Safia al-Suhail, a member of State of Law, said on March 24 that the prime minister was close to reviving an alliance with INA that swept him to power in 2005. “There are important steps that the State of Law and the Iraqi National Alliance are taking on the road to integration and creating a big bloc in the next parliament,” Suhail said. New President Allawi has also held talks with several groups, including with supporters of anti-U.S. cleric Moqtada al-Sadr , and the Kurdistan Alliance, according to an interview with Asharq al- Awsat newspaper published on March 25. The Kurds, who backed al-Maliki in 2005 and hold the presidency, have yet to give any clear indications about who they will support this time. Once today’s results are certified, current President Jalal Talabani will have 15 days to call for lawmakers to convene and elect a speaker and two deputy speakers. A new president must then be elected, who will invite the leader of the largest bloc to form a government. The prime-minister designate has 30 days to do this. Talabani has already signaled his willingness to stay on in the post. “He is the major nominee to the post of the President of Iraq and he is approved by all,” State of Law member Hassan al-Sanid said on March 24. Al-Qaeda What is less clear is the candidate for prime minister. State of Law’s Suhail said the alliance is committed to al- Maliki serving another four years, while al-Sadr supporters, who dominate the INA, have said they are against the premier staying on. Al-Maliki led a crackdown against Sadrist militias in 2008, taking back control of the main oil exporting city of Basra. As the horse-trading got under way, al-Qaeda in Iraq leader Abu Omar al-Baghdadi said in an internet audio message on March 19 that Iraqi political leaders would be targeted as part of a new military campaign, the SITE monitoring Group reported. Attacks have dropped from a peak between 2005 and 2007, when Iraq tipped toward civil war, though violence continues, especially in Baghdad and the northern city of Mosul. Fraud The parliamentary vote was the second since Saddam Hussein’s ouster by U.S.-led forces in 2003. Sixty two percent of the 19 million Iraqis eligible to cast ballots turned out. The United Nations envoy to Iraq, Ad Melkert, said just before the results were announced that the vote met “all reasonable demands and standards.” He called on all parties to accept the results. Most parties have made complaints of fraud, with Talabani and al-Maliki demanding a manual recount. An ideal outcome would see a new government including both al-Maliki and Allawi, Barnes-Dacey said. Neither party seems ready to “embrace this solution because of personal animosity and ambitions,” and so the most likely outcome would be an alliance between al-Maliki, the INA, and the Kurdistan Alliance, he said. Sunni Muslims are likely to be angered if Allawi is excluded from the government. A minority in Iraq, they dominated under Saddam Hussein and formed the backbone of an insurgency against U.S.-led forces after the 2003 invasion. “How they negotiate through the coming months is a test of whether they can put the Iraqi state interests above their own partisan ambitions,” Barnes-Darcey said, referring to all of Iraq’s political parties. To contact the reporters on this story: Kadhim Ajrash in Baghdadt ; Caroline Alexander in London at calexander1@bloomberg.net ; Henry Meyer in Dubait .

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Brickworks Limited (ASX:BKW) Delivers Robust Half Year Results

March 24, 2010

Brickworks Limited (ASX:BKW) Delivers Robust Half Year Results

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Pan Asia Corporation Limited (ASX:PZC) TCM Coal Project Continues To Provide Good Results, Calorific Values >7000 cal/g

March 21, 2010

Pan Asia Corporation Limited (ASX:PZC) TCM Coal Project Continues To Provide Good Results, Calorific Values > 7000 cal/g

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Investors see 2010 as the time to target prime European real estate (EUR)

March 19, 2010

Group, Inc. announced the results of a survey of more than 270 European real estate investors, revealing their intentions for the timing and focus of their investment activity over the coming years. The findings were launched at the companys European

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Gap Inc Results…

February 26, 2010

Gap Inc Results…

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Beach Energy Limited (ASX:BPT) Reports Robust Interim Financial Results

February 23, 2010

Beach Energy Limited (ASX:BPT) Reports Robust Interim Financial Results

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Dell Results…

February 19, 2010

Dell Results…

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JCPenny Results…

February 19, 2010

JCPenny Results…

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Dean Foods Financial Results

February 10, 2010

Dean Foods Financial Results

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New York Times Financial Results

February 10, 2010

New York Times Financial Results

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Dean Foods Financial Results

February 10, 2010

Dean Foods Financial Results

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Pluton Resources Limited (ASX:PLV) Announce Positive CSIRO Flotation Test Results From Irvine Island Iron Ore

February 7, 2010

Pluton Resources Limited (ASX:PLV) Announce Positive CSIRO Flotation Test Results From Irvine Island Iron Ore

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