| Ritchie Multi-Strategy Global Trading hedge fund, founder and ...
A Lisle-based hedge fund, its founder and chief executive, and its investment adviser will pay about $40 million to settle charges they were engaged in illegal late trading in mutual funds, the Securities and Exchange Commission said Tuesday.
Charged by the regulator were Ritchie Multi-Strategy Global Trading Ltd. and its Chicago-based adviser, Ritchie Capital Management LLC.
Also charged were Ritchie Capital founder and CEO A.R. Thane Ritchie, mutual-fund trading supervisor Warren DeMaio and Michael Mauriello.
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The world's silver lining
A generation ago the biggest worry about poor countries was over-population. Books such as "The Population Bomb" (1968) and "The Limits to Growth" (1972) predicted Malthusian crises in countries where women were having five children or more. Since then the fertility rate (the average number of children a woman can expect during her lifetime) in low- and middle-income countries has crashed. In East Asia and the Pacific, the rate was 5.4 in 1970. Now it is 2.1. In South Asia, the fertility rate halved (from 6.0 to 3.1). In the world as a whole, fertility has fallen from 4.8 to 2.6 in a generation (25 years). The biggest decline is in those countries that are most involved with globalisation (especially in East Asia, though China is a special case because of its one-child policy).
Rio buys three iron ore ships for $US315mn
MAJOR miner Rio Tinto has bought three iron ore vessels for $US315 million ($362.51 million), as the company looks to increase its annual production profile to 600 million tonnes. Rio Tinto said the 250,000 tonne vessels would transport iron ore from the company's mines in Western Australia to customers in China and elsewhere. "These very large ore carriers will assist us in continuing to provide our customers with better delivery options well into the future while locking in low, long term freight rates for the benefit of our shareholders,'' Rio Tinto chief executive of iron ore Sam Walsh said in a statement. The vessels will be built by Namura Shipyards in Japan and delivered to Rio Tinto from late 2012. The major miner has also reserved rights on another two vessels of similar size.
33 trades in a blink, and getting even faster
In the time it takes to bat your lashes, the Chicago Mercantile Exchange executes and clears 33 electronic trades. That velocity, a trade every 15 milliseconds, can leave anyone who relies solely on eyesight blind to what's happening in the markets.
Once guided by hand signals, the Chicago exchanges have pushed their way into the forefront of global finance by mastering speed, routing deals for Connecticut-based hedge funds at a pace equal to Mach 500,000. They are now racing to accelerate trades, attract greater volumes and generate better profit margins.
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Overview: Risk aversion boosts gold
Financial markets received a grim reminder of global geopolitical risk on Thursday as the assassination of the Pakistani opposition leader Benazir Bhutto helped fuel demand for the relative safety of gold, US Treasury bonds and the Swiss franc. The nervous mood in the markets was heightened by the release of much weaker than expected US durable goods orders data, which triggered fresh worries about the global economic outlook. .
Unwitting blue-chip casualties
Indeed, he played a key role in a bid for Qantas and, if he had pulled it off, would have been one of the biggest shareholders in the national airline. The list of battered reputations almost reads like a who's who of the very top of the finance industry. The carnage at Centro has destroyed the reputations of people who until a year ago were held in the highest regard. On the Centro board, big names include Paul Cooper, who is also a director of Axa after building a successful career at investment bank Investec. On the same board sits Sam Kavourakis, who had a solid reputation in property after spending eight years running National Mutual Funds Management. Then there is former managing director of the David Jones department store chain, Peter Wilkinson, along with Jim Hall, who was a former senior executive at BHP Billiton and former executive director of finance at Orica.
The Ex Ante Factor: Bizarro World
The week of January 21-25, 2008 will go down in the history books of financial markets and potentially society at large. We witnessed the largest financial debacle in history where SocGen lost $7b in index futures pushing stock markets to the brink of collapse (are we trying to one-up each other's debacles?), we received an historic 75bps inter-meeting ease from the Federal Reserve (to fix a bad trade in Europe?), the US government agreed to pass a stimulus package to head off a recession (borrowing $150 billion to save a multi-trillion $ credit bubble?) and to top it off 10YR treasury yields traded down to 3.30% just 30bps from the 2003 lows while the inflation sensitive gold contract traded at an all time high above $920/oz (is this bizarro world?). With all the debate regarding whether or not the US will enter a recession we took a look at the conflicting messages coming from the commodity and bond markets to see if we could come up with a conclusion and trading strategy.
Student Injured In Fall, Mom Questions Why No 911 Call? Save Email ...
It is terrible for someone to post a comment stating that the school nurse couldn't find a real job. Treat your school nurse with respect. She is doing a job that most people don't want to do and doesn't pay great to begin with simply because she cares.
Posted by: Elle Location: Omaha on Jan 16, 2008 at 01:17 PM I think the school should have called 911, the student may have been responsive, but he was in pain. It was a mistake to not call 911, had he been more seriously injured, and they moved him, the school could be charged with damaging, that is why professionals should be called when this type of injury occurs.
Posted by: GM Location: Omaha on Jan 16, 2008 at 01:03 PM How did the staff even know that this kid fell and landed on his face/head? If they didn't see him climbing on the ralling, they probably didn't see the fall either? So maybe they didn't think moving him was an issue.
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