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[ September 21, 2014 | Author: Admin | Views: 27337 | Weather: | Mood: normal]

PIMCO CEO Mohamed El-Erian has decided to resign effective mid-March, the bond giant announced Tuesday. Chief Operating Officer Douglas Hodge will take over as CEO of the investment firm. Bill Gross will remain chief investment officer. “My first reaction is that he has been such a thought leader for PIMCO and a public face for them on CNBC, speaking about the direction of the markets, macroeconomic policy and more,” said Jeff Tjornehoj, head of Americas research for Denver-based Lipper, in an interview with ThinkAdvisor. According to the PIMCO statement, El-Erian will remain a member of the International Executive Committee of Allianz (AZSEY), the international insurer that is PIMCO’s parent company, and, as of mid-March, also advise Allianz’s Board of Management of the multinational insurer on global economic and policy issues. “Reading the PIMCO statement [about his news], I get the impression that he will not appear publicly so much anymore … Continue reading

[ September 21, 2014 | Author: Admin | Views: 83089 | Weather: | Mood: normal]

The choice of Tokyo to host the 2020 Games is a safe one Japan has ample experience in putting on international sporting events, and Tokyo boasts a first-class transportation system that can move hundreds of thousands of tourists around efficiently, as well as a large, well-regulated hotel sector that can house them comfortably, without too much price-gouging, as my colleague, the longtime Japan hand Eamonn Fingleton, notes. Thats one of the reasons why the second Tokyo Games isnt likely to provide much of a jolt to the economy the citys environmentally friendly bid was predicated on making maximum use of previously built facilities and infrastructure; the roughly 1 trillion yen ($10 billion) in planned spending is well below that for the London and Beijing Games. In the run-up to the 1964 Tokyo Games, Japan undertook herculean building projects, including the construction of a network of highways around Tokyo and the … Continue reading

[ September 21, 2014 | Author: Admin | Views: 36341 | Weather: | Mood: normal]

Shares of International Business Machines (IBM) sold off aggressively in after-hours trading. Investors and analysts are not happy that "Big Blue" reported a big miss on its quarterly revenues. I do not expect anything spectacular in the short to medium term, yet long term prospects should continue to look good as long as the company is taking the rapidly changing developments within the industry seriously, and continues to act upon this. Third Quarter Results IBM generated third quarter revenues of $23.72 billion, down 4.1% on the year before. Roughly half of those revenue declines are attributable to adverse foreign currency movements. Consensus estimates for revenues stood at $24.74 billion, implying that IBM missed consensus estimates by a full billion. The company reported net earnings of $4.04 billion, up 5.7% on the year before. Diluted earnings per share advanced from $3.33 per share last year to $3.68 per share. Best Long … Continue reading

[ September 21, 2014 | Author: Admin | Views: 81845 | Weather: | Mood: normal]

A recent survey by National Retail Systems, or NRS, a privately owned third-party logistics company, reveals interesting insights into truck drivers’ job preferences, including answers to key questions like what attracts them to a job and what compels them to leave one. The results could come in handy for American trucking companies that have been spending sleepless nights trying to figure out the best ways to recruit and retain drivers even as the industry battles a severe workforce shortage.It turns out that drivers don’t really care about a company’s reputation as long as they get a hefty paycheck, and that a sign-on bonus fails to do what it’s meant to do: attract drivers. Here are some interesting highlights from the survey. Building a loyal team is possibleIf you think truck drivers are frequent job-hoppers, you might be surprised by what the NRS found out: Out of the thousands of drivers … Continue reading

[ September 21, 2014 | Author: Admin | Views: 22331 | Weather: | Mood: normal]

LONDON — The FTSE 100 (FTSEINDICES: ^FTSE  ) has finally beaten its pre-crisis 2007 high, closing today at 6,804 points to record its highest level since September 2000. Just like 2007, the stock market has been buoyant and optimistic in 2013, having rallied by more than 20% since November alone. The financial crisis suddenly seems like a distant memory, while phrases such as “fiscal cliff” and “eurozone debt crisis” have been cast aside. The market seems to make new highs every day, but should investors heed the advice of legendary investor Warren Buffett and “be fearful when others are greedy and greedy when others are fearful”? Savers with new money to invest may be wondering whether it’s sensible to buy shares now that the FTSE is back at its 2007 heights. Existing shareholders, meanwhile, might be wondering whether the latest FTSE high could be a signal to sell. Hot Warren Buffett … Continue reading