Thursday, June 23, 2011

Fisher Capital Management Corporate News

Fisher Capital Management Corporate News:Ben Bernanke Warning Over US Debt Crisis



Updated: 17:18, Wednesday, 15 June 2011
The head of the US central bank has said America’s creditworthiness is at risk if the country’s borrowing limit is not raised.

Federal Reserve Chairman Ben Bernanke has urged Republican members of Congress to vote in favour of lifting the borrowing level from its current $14.3 trillion threshold.
‘I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important job,’ Mr Bernanke said in a speech in Washington.
The Fed Chair said in the absence of a quick resolution to the battle over the debt limit, the US could lose its prized AAA credit rating, while the dollar’s special status as a reserve currency might be damaged.
Mr Bernanke said that putting in place sustainable fiscal policies was a ‘daunting’ challenge ‘crucial for our nation.’
‘History makes clear that failure to put our fiscal house in order will erode the vitality of our economy, reduce the standard of living in the United States, and increase the risk of economic and financial instability.’
However, he said, ‘In debating critical fiscal issues, we should avoid unnecessary actions or threats that risk shaking the confidence of investors in the ability and willingness of the US government to pay its bills.’
US President Barack Obama yesterday warned of a new economic meltdown if the ceiling is not lifted in time.
‘We could actually have a reprise of a financial crisis, if we play this too close to the line,’ Mr Obama told NBC television.
‘We’re going (to) be working hard over the next month. My expectation is we’re going (to) get it done in a sensible way. That’s what the American people expect.’
If agreement is not reached by a deadline in early August, the US could start defaulting on its obligations.
Treasury Secretary Timothy Geithner has warned that failure to raise the borrowing cap by 2 August will trigger turmoil in the bond markets and economic ‘catastrophe’.
He met with Republican and Democratic politicians to try to find an exit to the impasse.

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3 Votes
http://www.thenational.ae/business/markets/warning-of-unrest-as-trouble-grows-in-india
Anuj Chopra
Jun 17, 2011
Inflation in India increased to 9.06 per cent in May. AFP

MUMBAI // Not so long ago, India was on the verge of double-digit growth. But ambitions of becoming an economic superpower are on hold as fears of a slowdown loom.

Economic troubles:Storm clouds gather across the world.

Last Updated: June 17, 2011
Billions wiped off global stocks Trading screens across the world flash red as sharp sell-offs take place everywhere. Read article
In the Gulf UAE debt sales set to boost the Middle East Read article
In Europe Spectre of Greek default loomsRead article
In Japan Disasters look set to leave country stuck at zero Read article
In the US Politicians in economic theatre of battle Read article
In China Curbing inflation is a balancing actRead article
The economy expanded at 7.8 per cent in the first quarter of the year – the slowest pace in five quarters.
Yesterday, the Reserve Bank of India (RBI) raised key interest rates for the 10th time since March last year, despite warnings by analysts that high interest rates could dent the main drivers of economic growth: domestic consumption and investment.
Signs of trouble are already visible. Last year, foreign direct investment in India fell 32 per cent from 2009 to US$24 billion (Dh88.15bn). The rate of investments in India plunged to 0.4 per cent in the January to March period compared with 20 per cent in the same period last year. Industrial production slowed to 6.3 per cent in April from 8.8 per cent in March.


D Subbarao, the governor of the RBI, said the interest rate rises were warranted to deal with rising inflation, which Credit Suisse bank called India’s “horror show”.
Inflation increased to 9.06 per cent in May compared with 8.66 per cent in April. But policy analysts say raising interest rates incessantly is akin to pressing the brake pedal and the accelerator at the same time.
“The slowdown has been due to a near collapse in the investment cycle,” says Rohini Malkani, an economist with the investment bank Citi India. “Higher rates could take a toll on investments and consumption.”
Aggressive monetary tightening threatens to destabilise the growth of the industrial sector, which the country heavily relies on to absorb the millions of people entering the workforce every year. Such action could spark widespread social unrest, Udayan Bose, the chairman of India’s employer association’s corporate finance committee, warned in a letter this week to Mr Subbarao.


Monday, May 9, 2011

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Since when does Fisher Capital Management been around? (www.fisher- capital.com)?

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Since when does Fisher Capital Management been around? (www.fisher- capital.com)?

Basia Babb by Basia Babb
Member since:
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Fisher Capital is a family-run private equity firm that was established in 1991 by Don Fisher and his son, Bill Fisher.

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  • Cacey Cabell by Cacey Cabell
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    It was founded in 1991 by the Fisher family with their expertise on banking and investment management.
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Fisher Capital Management - Japan Elects a New Premier Part 2

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 1, 2011 --


Fisher Capital Management Eight and a half months after riding the Democratic Party of Japan’s (DPJ) historic lower house victory into office, Prime Minister Yukio Hatoyama announced his resignation, having haphazardly frittered away a chest brimming with political capital.

Major newspapers said that Hatoyama was resigning mainly for two reasons: his failure to keep his promise to relocate the functions of US Marine Corps Air Station Futenma, Okinawa, out of Okinawa Prefecture, and a political funding scandal that included his mother’s provision of some ¥1.26 billion to him over years.

Fisher Capital Management - Japan Elects a New Premier Part 2: Instead of deregulation and lower corporate taxes, he envisions increased employment and consumption through focused government spending in nursing, medicine and other social welfare fields. But some economists expressed doubts; they say there is no guarantee that the positive effect of government spending can steadily outpace the negative effects of tax hikes.

Kan seems to be open to the idea of raising Japan’s consumption tax from its current level of 5%, though the approach of the upperhouse election on July and concerns over a political backlash suggest caution will be the government’s modus operandi.

“Any rise in the consumption tax rate must be offset by lower levies on daily goods as well as refunds for low-income households”, he recently said. But he also hopes to reduce corporate taxes from the current 40% rate to around 25%, in line with other major countries. In the foreign exchange market, Kan has earned a reputation as a weak-yen advocate. “The business community says that a yen in the mid-90s against the dollar is appropriate, so it would be better
if it weakens a bit further”, he said in January, shortly after becoming finance minister.

Fisher Capital Management - Japan Elects a New Premier Part 2: Market observers believe that Kan still supports a weaker yen and that the Japanese currency could depreciate against the US dollar. Regarding monetary policy, Kan is generally considered an advocate of inflation-targeting and quantitative easing. As finance minister, he has put some political pressure on the Bank of Japan (BOJ) to fight deflation more aggressively, he nudged the BOJ to double a special bank lending program introduced in December. The bond market believes Kan is a wise choice to manage the sustainability of Japan’s government debt.

The DPJ had promised to unveil a long-term plan to improve public finances. However, “postponement is likely because of the current political churn, and any real ‘meat’ in the plan will probably not be disclosed until after the Upper House election” … says Flemming Nielsen, senior analyst at Danske research.

Kan is a self-made man, ascending into politics after years toiling in citizen movements and he has a reputation as a quick learner and a pragmatic politician, with sharp elbows and an aversion to any criticism.

The country he now leads is facing dire long-term problems that beg for strong leadership, including a staggering level of public debt, a stagnant economy, and an ageing population. He has a few weeks to fix the impression left by nine months of incompetent DPJ governance.

If he fails, the party will be routed in the elections for the Diet’s upper house.

Fisher Capital Management Scam Prevention News

Fisher Capital Management Scam Prevention News: S Korea, China Bust Phone Scam Ring Targeting S Korea

http://www.bernama.com/bernama/v5/newsworld.php?id=581379

April 24, 2011 12:40 PM

SEOUL, April 24 (Bernama) — Chinese prosecutors have arrested 23 suspects over phone fraud on South Koreans, Seoul’s prosecutors said Sunday, the first bust on a scam ring after the two neighbouring countries agreed to thwart voice phishing scams that have caused huge financial damage in South Korea in recent years.

Voice phishing involves random phone calls to dupe victims to siphon their bank accounts, Yonhap News Agency reported.

Callers, growingly traced to networks in China, masquerade as police or bank officials, or sometimes demand ransom claiming they are holding a family member hostage.

The damage from phone fraud has reached over 200 billion won (US$185 million) over the last three years, according to South Korean prosecution data.

More than 1,500 suspects of the scams are believed to have fled to China during the past five years.

A Chinese ringleader and 22 other scammers allegedly swindled several billion won from South Koreans by impersonating officials of financial institutions and fooling them into depositing their money at certain bank accounts.

The Chinese prosecutors are also chasing other members of the busted phone scam ring that allegedly has about 100 members, according to Seoul’s prosecutors.

The bust came three months after South Korean Prosecutor General Kim Joon-gyu and Meng Jianzu, China’s public security minister, agreed to cooperate in rooting out voice phishing scams.

South Korean prosecutors said they can soon extradite 15 separate suspects from China over similar scams that caused some 150 billion won ($138 million) in damages from 20,000 victims. The prosecutors did not give any specific time frame.

– BERNAMA

Fisher Capital Management Reports: International Equities

The third quarter saw double-digit returns for the world¹s equity markets. U.S. large-cap stocks, as measured by the Russell 1000 Index, rose 16.07%, bringing that index’s year-to-date return to 21.08%. Mid-cap stocks were the best performers overall, with the Russell Mid-Cap Index gaining 20.62% for the third quarter and 32.63% for the year. Value stocks bounced back during the quarter, outperforming growth stocks across the full range of market capitalizations. Small-cap value stocks were the best performers for the quarter but still lagged their small growth counterparts by almost 13 percentage points for the year.

International Equities: Fisher Capital management, Korea reports: International equities posted double-digit gains for the third quarter as well. The MSCI EAFE IMI Index gained 19.82% in the third quarter, with local-currency average market returns of 15.10% boosted by the weak performance of the U.S. dollar.

Emerging markets produced another strong quarter, but one that was more in line with developed market returns than was the case during the second quarter of 2009, as the MSCI Emerging Market IMI Index rose 21.30% for the third quarter. Both developed and emerging markets were driven higher by the strong performance of European equity markets, while Asian markets, particularly in Japan, lagged.

Fisher Capital Management Outlook: At the end of the quarter, markets reacted negatively to mixed economic news, signaling a potential correction off the recent highs. The strong rally since the market’s low of March 9, 2009 has left observers wondering whether rapidly-rising stock valuations have become prematurely rich and earnings expectations somewhat stretched.

While we are cautious about the performance of the market in the short term, we continue to expect a slower, but more robust and sustained, “smile-shaped” economic recovery in the long run.

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Providing a client service that is second to none. Learn how your Investment Advisor, with the support of the team of professionals at Fisher Capital, can help address the issues you face while preserving, enhancing and transferring your wealth...Diversification and quality are our research guidelines. At Fisher, we are committed to a long-term investment philosophy that emphasizes quality and diversification. We do business this way because years of experience have convinced us that...

We find the right investment balance for our clients. Fisher leads the way in the provision of first class advisory services across the investment spectrum. Our clients range from private individuals, to intermediaries and global institutions...

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.
As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.
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Fisher Capital Management Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world. As a full service company Fisher Capital Management Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service secon

Saturday, April 16, 2011

Fisher Capital Management Corporate News: What’s News: World-Wide

http://online.wsj.com/article/SB10001424052748704495004576265124008297558.html?mod=googlenews_wsj
Tuesday, December 21, 2010 As of 6:42 PM EST

Libya Rebels Build Parallel State

By CHARLES LEVINSON

[REBSTATE]Agence France-Presse/Getty ImagesLibyans held Friday noon prayers in Benghazi on Friday. The opposition’s authority, based in the eastern city, have taken steps to show they are committed to equality and democracy.
BENGHAZI, Libya—Rebels here have drafted a constitution that calls for full equality regardless of gender, race or religion, part of their effort to convince the world they are committed to democracy and deserve international support.
The document represents a milestone in the rebels’ effort to move rapidly from a grass-roots uprising to a government with all the trappings of statehood.
The progress in Benghazi contrasted with the rebel fighters’ struggle to make gains in the military battle against Col. Moammar Gadhafi’s forces. President Barack Obama, in an interview with the Associated Press, said the fight was at a stalemate, but that Col. Gadhafi was under growing pressure to quit.
The North Atlantic Treaty Organization’s civilian chief Anders Fogh Rasmussen on Friday echoed an op-ed statement by Mr. Obama and his French and British allies that NATO’s mission would continue until Col. Gadhafi was gone.
Col. Gadhafi’s forces continued to shell the contested city of Misrata Friday—though during a respite there, several ships were able to dock, deliver aid and evacuate some of the thousands of migrant workers trapped there, according to rebels and aid organizations. But Human Rights Watch said it had evidence that Col. Gadhafi’s forces have fired cluster munitions in the city. Most countries have banned the use of such weapons, which can endanger civilians.
Rebels seeking stronger aid in their fight have reached out to show their commitment to Western values and allay concerns about the role of Islamist fighters in their military.
The temporary constitution, drafted by a group of intellectuals for the Benghazi-based Transitional National Council, is one of the many signs of the rebels’ effort to build a new Libya.
In recent weeks, the rebels have received foreign envoys and visiting heads of state as a sovereign government would. They have taken steps to govern their borders, such as making a new exit and entry stamp for visitors, and recording arrivals and departures. They have formed parallel leaderships and new headquarters for critical government institutions, such as the central bank and the National Oil Company. They are in the process of re-creating a tax authority.

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Alongside these steps, rebels see what they consider to be growing signs of international recognition, including proclamations of support at a conference in Doha this week.
“Our friendship is slowly developing with the U.S. and the Europeans,” said Gen. Ahmed al-Ghatrani, a rebel military commander in Benghazi.
The constitution’s preamble says its aim is a Libyan society based on “freedom, justice, and equality, and a democratic government based on political pluralism, peaceful transition of authority, and an independent judiciary.” The document also enshrines freedom of speech, media and peaceful assembly.
A senior rebel official said the document won’t be officially adopted until eastern Libya is reunited with the west after Col. Gadhafi’s ouster. At that point it will only serve as a temporary constitution until a more expansive formal document is drawn up with broader popular input.
“It tells the world who we are and what we want,” said Abdel Moneim Bendardf, a senior adviser to rebel leader Mustafa Abdel Jalil.
The constitution was drafted by a group of advisers to the rebel governing council that first proposed Mr. Jalil to be president of the rebel governing body and which drafted a list sanctions on Col. Gadhafi’s regime that the rebel government submitted to the United Nations.
Rebel leaders appeared to be succeeding in their bid to impress Western powers, many of whom, including the U.S., U.K., France, Italy and the European Union, have sent envoys to Benghazi in recent weeks.
“We are ready to open a consulate here for the long run,” said a Western envoy, who said he was “impressed” with what he had seen of the rebels.
In most cases, those envoys have been empowered to speak on behalf of their home governments, an authority usually reserved for ambassadors serving in the capitals of sovereign states.
When a delegation of African heads of state and officials visited the rebel capital to present a peace proposal on April 11, the full contingent of diplomats and international press was on hand for the event. The rebel leadership appeared more stately than ragtag.
They smoothly executed customary diplomatic and ceremonial procedures for state visits. They provided Mercedes cars and black-suited security escorts for the visiting dignitaries, red carpets, and even newly minted diplomatic VIP plates adorned with the tricolor flag of Libyan independence.
The new interim chiefs appointed by the rebel leadership say they will step down once the country is reunited.
“Once we kick Gadhafi out, there are many younger people who should take the lead in running the national oil company and other companies,” said 74-year-old new chairman of the rebel-run National Oil Company, Wahid Bugaighis. “We are too old for that.”
—Sam Dagher and Stephen Fidler contributed to this article.

Fisher Capital Management Investment Solutions: Number of victims hacked by News of the World may be ‘substantially higher’

http://www.telegraph.co.uk/news/uknews/8454311/Number-of-victims-hacked-by-News-of-the-World-may-be-substantially-higher.html
By Mark Hughes, Crime Correspondent 9:15PM BST 15 Apr 2011

The number of victims who had their phones hacked by the News of the World may be “substantially higher” the Metropolitan Police has admitted after it began trawling through nearly 10,000 records of private investigator Glenn Mulcaire.

Sienna Miller, who has been named as a hacking victim. Number of victims hacked by News of the World may be 'substantially higher'
Image 1 of 2
Sienna Miller, who has been named as a hacking victim. Photo: PA
By Mark Hughes, Crime Correspondent 9:15PM BST 15 Apr 2011Follow Mark Hughes on Twitter
Previously Scotland Yard had said that information found in records kept by Mulcaire who was employed by the newspaper, showed that he had 91 voicemail PINs – suggesting 91 potential victims.
But the High Court has heard that the new police investigation expects to find many more victims. And that could open the door for more celebrities to take legal action against the News of the World.
The disclosure came as it emerged that the actress Sienna Miller may have had her emails hacked into. Ms Miller has been offered £100,000 to halt her case against the News of the World. She is yet to accept or reject the offer.
But while the News of the World waits to hear whether Ms Miller will settle, they could now have to defend themselves against scores of other claims.
The High Court heard that 40 detectives working on the new investigation – codenamed Operation Weeting – are currently trawling through 9,200 pages of records seized from Mr Mulcaire.
Specifically they are looking for direct dial numbers (DDN) – the number dialed by a mobile phone user to access voicemails.
Jason Beer QC, acting for the Metropolitan Police, told the High court: “There are, within the Mulcaire archive, records of DDNs where, on the face of it, there is no good reason for these to appear. That is strongly indicative of interception.”
Asked about whether the number of numbers is larger than the 91 PINs, Mr Beer added: “The number of DDNs is substantially higher than that.”
The New of the World issued a public apology over phone hacking last Friday, offering to pay damages to anyone who could prove that their phone was hacked by one of its journalists.
Mr Beer said that since then a host of people have been in touch with the Metropolitan Police attempting to discover whether they were a victim of phone hacking.
“Since the admissions last Friday, the Metropolitan Police has been flooded with enquiries. The number of people beating a path to the Met’s door has increased very substantially.”
The court hearing also heard that the News of the World had offered to settle the case with Sienna Miller, one of the celebrities who is suing the newspaper over fears that her voicemails were intercepted.
The court heard that the actress has been offered £100,000 plus her legal costs to settle the case. She has neither accepted nor rejected the offer.
There was also a suggestion that Ms Miller may also have had her emails hacked into as recent as 2008.
The documents seized from Mr Mulcaire had Ms Miller’s email password and her legal team claim that a journalist could have known this in 2008, despite the fact that by then the Mulcaire documents were in the hands of the police.
Hugh Tomlinson QC, her barrister, explained: “The hacking in 2008 is separate from the phone records. We have linked that to the Mulcaire archive because she used the same password on her mobile phone and on her email and that was recorded on Mr Mulcaire’s notes. We infer that that password was used to hack her email.”
The civil cases against the News of the World are being brought by 20 people, including Jude Law, Paul Gascoigne, George Galloway, Tessa Jowell and the jockey Kieren[CORR] Fallon.
But yesterday the judge Mr Justice Vos ruled that there should be four test cases which will determine how much damages should be paid to future claimants. The tests cases, the court heard, are likely to be those of the football pundit Andy Gray, football agent Sky Andrew, Sienna Miller and Kelly Hoppen, the interior designer.
Glenn Mulcaire and the News of the World’s royal correspondent Clive Goodman were jailed in 2007 after they admitted hacking into voicemails. But the Metropolitan Police was criticised for ending their investigation when, it was alleged, the practice of hacking at the paper went further.
In January this year a new investigation was launched. So far three News of the World employees have been arrested. Chief reporter Neville Thurlbeck, former news editor Ian Edmondson and assistant James Weatherup have all been bailed to return in September.

Fisher Capital Management Corporate News: Scam targets retail shoppers

http://www.thefranklinnewspost.com/article.cfm?ID=18841
Friday, April 15, 2011
By K.A. WAGONER – Staff Writer
When Betty Wagoner of Ferrum received a $3,920 check in the mail, she knew it was “too good to be true,” so she gave the check to a police officer.

Along with the check, Wagoner received a letter, stating that she had won $55,000 because she was chosen at random from customers of Walmart, K-mart, Kohl’s, Safeway or Best Buy.

The letter instructed her to use the check to pay the government taxes of $2,785.

“If you receive a check in the mail that you are not expecting, you should know it’s a scam,” said Investigator Jay Mason with the Franklin County Sheriff’s Office.

“These schemes are very elaborate, and they change all the time, considering all the advances in technology,” Mason said. “And the checks are real checks, so they look authentic. But the routing and account numbers are fictitious.”

“Just use common sense,” Mason added. “If it sounds too good to be true, it usually is. You don’t get something for nothing.”

Mason advises anyone who receives letters with checks like this in the mail to “Google” the telephone number, names and business names listed on the letter. This will usually alert the recipient to a scam, he said.

There are also numerous websites dedicated to educating the public to scams, including LooksTooGoodToBeTrue.com, Mason said.

The website was constructed to prevent consumers from becoming victims of internet fraud schemes, Mason said. The website also includes a test to measure online safety habits and allows consumers to shares online experiences related to internet fraud.

Anyone who does not have access to a computer should contact the sheriff’s office at 483-3000 to have suspicious correspondence investigated, Mason said.

“Keep in mind that if you send money outside the county, we do not have the jurisdictional authority to investigate those crimes,” Mason said. “Most of the scams originate outside the United States, so even the federal authorities cannot investigate.”

“So your money is gone, and you cannot get it back,” Mason added.

If you have been a victim of a scam, you can register a complaint at www.IC3.com, the Internet Crime Complaint Center.

The center recommends consumers look for the following red flags:

“Being asked for personal financial information, such as bank account information or credit card numbers, via the telephone or email.

“Using high-pressure sales tactics so as not to give you time to think about the information you are providing.

“Being told you have won a foreign lottery or sweepstakes.

“Being asked to help transfer funds out of a foreign country for a share of the money.

“Being offered help in repairing credit scores for an advanced fee.

“Receiving a counterfeit cashier’s check or money order for more than the cost of the item you are selling.

IC3 reminds consumers to be vigilant:

“Take time to research any offers you receive over the internet, telephone or mail.

“Do not deposit any checks that are supposed winnings from a lottery or sweepstakes, especially if you did not enter one.

“Do not provide sensitive, personal or financial information unless you know who you are dealing with.

“Consult friends and family or a trusted advisor before making any major financial decisions.