Hugh Conway
-
Posts
4397 -
Joined
-
Last visited
Content Type
Profiles
Forums
Events
Posts posted by Hugh Conway
-
-
CUT TAXES FOR THE RICH!
-
The same Greenspan that felt it wasn't necessary to regulate investment fraud at all, no? Kind of a 'buyer beware' guy...
Yeah, the same.
Why does anyone listen to that assclown?
you forgot: the one who inflated the huge ass housing bubble in the first place
-
Oh look another right-wing circle jerk.
Oh, look: HOT CARL!
apply a little of that fantastic hindsight that PP and JayB have and you wouldn't be covered in shit there KKK
-
Oh look another right-wing circle jerk.
-
The biggest financial fraud in history? It's got it all - smug Canadians getting their comeuppance, smugPE getting their comeuppance, smug cc.com'ers laughing
Sino Forest: Is This the Biggest Theft in History?Jun. 20 2011 - 6:57 am | 2,767 views | 0 recommendations | 3 comments
Things are looking bad for Sino Forest as Canada’s Globe and Mail releases the results of their investigation.
As Christopher Failles pointed out on these pages a couple of weeks back, Sino Forest was a very risky stock to be holding. At the first sniff of accounting regularities it’s worth getting out of a position: for they always (OK, more often than not) seem to lead to the uncovering of yet more such probelms, not a simple resolution.
Canada’s Globe and Mail newspaper has been doing some hard looking at what Sino Forest themselves say they have as timber holdings. And they don’t seem to be able to find what is claimed. They concentrated on Yunnan Province where Sino Forest claims to have purchased 200,000 heactares of standing timber from one specific company.
That company claims that they sold only 200,000 mu of timber, not hectares. And a mu is about one fifteenth of a hectare, meaning that if true, we seem to be missing some 93% of the timber that should be there.
Right number, wrong unit if you like.
John Hempton ( a hedge fund manager with a great interest in such Chinese stocks) has had a go at working out, if Sino Forest is indeed a scam, quite how much money has been taken.
There was a billion dollars raised in bonds and equity investments, insiders sold perhaps another billion dollars worth of stock meaning that:
Bernie Madoff took money from Peter to pay Paul. The amount of money stolen for Bernie Madoff’s personal use was probably less than $300 million. Sino Forest is six times bigger and if the Muddy Waters allegations are correct is probably the largest straight theft in human history.
It does all depend upon whether those forests exist and whether they’re owned by Sino Forest, this is still true. But if they don’t or aren’t then Hempton may well be right.
-
I'd never heard of Groupon before their disgustingly tasteless "Tibet suffers under Chinese rule but at least you can still get their ethnic food!" commercial they ran during the Super Bowl, and after seeing that I've vowed never to use their business.
Heh. The best part about that stupid add was their response to it "you just didn't get the joke" .... funny because the joke wasn't really funny if you got it.
-
Yes jay, it's trial and error and like o many things in life it's not perfectly deterministic. Most small businesses succeed with a little luck - probably because most small business owners are passionate about what they do first, and the business part comes later.
Of course if you've read about groupon you'd realize that merchants, in part because of groupon policies and capriciousness, may be unwittingly betting the farm.
Interesting post on the legal risks for groupon.
http://www.wired.com/epicenter/2011/06/groupon-risks-and-gifts/
-
Seems like a key function of any viable business is the ability to independently determine whether something is or isn't good for the said business.
Comeon Jay you aren't this dogmatic are you? Where does a business owner find information on the viability of a new method of promotions? Shit, most small business owners I know don't have the time to do in depth cube monkey level research.
We used them recently for a beer store in town. The business claims that almost everyone overspends the value of their groupon (since you're only allowed 1 per person per transaction).Per this paper:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1863466
and my personal experience, that's rare. I'd be particularly surprised at a liquor/beer store.
anyways, groupon as a company is a scam
-
Does your profession travel across international borders?
If so, Canmore.
Good luck buying a house there. Work and the people you surround yourself with are the most important. Despite being near Yosemite I can't think of a place in the Central Valley that I'd want to work in Health Care... unless you like violence, meth and heartbreak.
-
life is what you make of it. And nobody here is making it on the East Coast :smug:
-
Not a bad place
Troy isn't? Maybe if you are comparing it to Aberdeen, WA. I love the 'daks and New England is nice too. It's just Troy sucks as a place. I'm not sure if Water considers Albany-Schnectady "the sticks" or not.... I do. Nuclear weapons should be deployed. Certainly not the same planet as Denver if you are looking for anyone interested in the outdoors.
That outsourcing thing? It happened to New York. Pretty much every part outside NYC. Jobs, Dreams, People under 30, all gone. I went to school in Western, NY starting in the mid-90s when it was a relative bright spot - now it's been rust belted.
Both are good schools with good reputations; I'd suggest if you are interested in the outdoors and climbing something other than RPI might provide with better future possibilities of melding work and a decent recreational existance
-
Kids Today!
in Spray
i'm standing by the wiener!got a picture?
-
Kids Today!
in Spray
Prole my friend you have work here in Washington!
Mr. Small Hands can only aspire to Wiener-gate!
you made PP pop a Boehner
-
Kids Today!
in Spray
what an asshole?pretty fucking creepy that the CEO needed a kidney transplant and people are now selling them to buy stupid shit yes
VIVA LA FREE MARKET!
-
There's a rock Gym just up the road which would be the easiest after work:
http://touchstoneclimbing.com/cd.html
The Pinnacles are like 2.5-3 hrs from Walnut Creek. Castle Rock is 1.5hrs or so and not worth it when Lovers Leap is ~3hrs and Yosemite ~3.5 hrs you'd be insane if climbing is your focus. Especially since it's summer and the Pinnacles get hot. Well, if summer ever comes - there's more rain forecast this weekend. In June. WTF.
In the Bay Area take a beer road trip - Lagunitas (petaluma), Russian River (Santa Rosa), Bear Republic (Healdsburg), Moylan's (Novato), Anderson Valley (Boonville) are all pretty close to the North Bay.
-
I like girls. There are no girls in Troy.
The adirondaks are cool though. And kinda near. But they aren't enough to overcome Upstate New York being where dreams go to die.
-
RPI? Transfer somewhere decent now.
Seriously that school is a hellhole. If you are hell bent on a - hellhole, go Greyhound. Reasonably priced shipping for bags - I'd take the musical instrument somewhere else. Like another school, because RPI frowns on creativity.
-
Jim Tressel's looking for a job. Apparently FIFA is trying to hire him though.
-
I thought this was about moving the Thrashers to Winnipeg
-
And the Toronto Maple LeafsCome to think of it I'd pay you to come take Nickleback.We've a long standing agreement to take the Maple Leafs after they win the Cup.
-
The advantage of being a bankrupt nation with a lot of weapons is that you can invade nations with money but no weapons and loot them.
there's nothing worth pillaging, looting or raping in canada so what's the fun in an invasion?
-
you wanna get higher than you've ever been in your life and fo' free as well? dude, drink your own urine. no shit. experiment and report back.
BEAR GRYLLS
true 'dat - holy shit, that dude is a hard-core addict - negro is drinking his own piss 10 minutes after landing in the big bad bush
that's gotta be some nasty pussy if you have to drink your own piss
-
How about because Lance markets himself as a wonderful person and many, many, people seem to think he's an awesome guy? Why do adult americans desperately want to believe in the tooth fairy?
-
how come everyone is still here. Why didn't the Christians go to heaven?
God is sick of them too.
Greeks Bearing Gifts....
in Spray
Posted
So the rich are getting richer - and no, I don't believe that is inflation adjusted at least when you compare it to:
just think how much better it'll be in the future Jay_B when there are even more underployed youth to sneer at!