Philadelphia Sells PGW
Philadelphia sells PGW
Philadelphia Gas Works is being sold as advised by Lazard Ltd. The administration of Philadelphia Mayor Nuttter continues to build a case for the sale of the Philadelphia Gas works. They released a cost benefit analysis showing how the sale would be good for the taxpayer. This new report was completed by financial advisory firm Lazard. The report estimates that the sale of PGW will be for between $1.45 billion and $1.9 billion. This sale will yield a net profit for the city of between $422 million and $872 million after PGW's debts are paid. Budget Director Rebecca Rhynhart claims the report is a conservative estimate of the value of PGW. She bases this on the opportunities that exist for new business opportunities and rate increases in the future. Mayor Nutter would like the money from this sale to go towards the city's pension system which is currently underfunded. Critics of this sale point out that the sale of PGW will lose the city $18 million in a year. Rhynhart claims that this will be made up for by additional room in the budget from the now funded pension funds.
http://aclassasset.blogspot.com/2013/10/philadelphia-sells-philadelphia-gas.html
More Posts from Investmentsandequity-blog and Others
"Yahoo! Inc. (YHOO) will discuss the company’s financial results for the quarter ended September 30, 2013 via live stream video. In addition to analyst questions asked live during the event, Yahoo will accept questions in advance of the live stream with tweets tagged #YHOOearnings or by emailing yhooearnings@yahoo-inc.com. Questions received before noon Pacific/3:00 p.m. Eastern on Tuesday, Oct. 15, 2013, will be considered for the live stream with Yahoo’s CEO Marissa Mayer and CFO Ken Goldman.”
Q3 LIVE STREAM DETAILS:
WHEN: Tuesday, October 15 at 2:00 p.m. Pacific/5:00 p.m. Eastern
WHERE: The live stream will be broadcast from Yahoo’s Sunnyvale studio and will be available exclusively on Yahoo Finance at finance.yahoo.com. The video will be archived after the event at investor.yahoo.com and will be available for 90 days following the broadcast.
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After much debate about setting a final price, Twitter Inc (NYSE:TWTR)âs initial public offering is officially priced at $26 per share.
Gold has become the most hated commodity lately. What happened to the days when everyone had to own the precious metal? After all, more and more centr…
Gold has become the most hated commodity lately. What happened to the days when everyone had to own the precious metal? After all, more and more central banks around the world are printing money faster than ever. The Federal Reserve (U.S. central bank) is still creating $85 billion a month out of thin air. Other central banks in England, Japan, Asia, and Europe continue to do the same thing. So why has gold struggled so much? It seems that gold is now trading inversely to the USD/JPY (U.S. Dollar vs the Japanese Yen). Today, the USD/JPY is falling sharply and this is causing gold futures to rally. Currently, the USD/JPY chart remains in an up-trend on the daily chart. Up-trending markets are very tough to fight since that is where the momentum is. Should the USD/JPY chart start to fall gold should start to trade higher. Traders and investors might need to take a wait and see approach, but I would say that you shouldn’t get too bearish on gold at this stage of the game. Gold could be setting up to make a sharp move higher very soon if that up-trend in the USD/JPY chart starts to reverse. Nicholas Santiago InTheMoneyStocks.com
KKR and Panasonic Agree on a Price
Earlier in the month we wrote about the announcement of the Panasonic health sale to private equity firm KKR. The sale has now been finalized, KKR will own 80% of the Panasonic healthcare unit for a price of $1.67 billion an Panasonic will hold the remaining 20%. Panasonic has lost more than $7 billion a year for the last two years on their healthcare unit. The chief executive of Panasonic when asked about his thoughts on KKR said, "We believe that partnering with K.K.R will also allow us to learn from K.K.R.'s global operational and business management expertise as we pursue the next stage of growth for Panasonic." KKR's founder Henry Kravis said in a statement that Japan was, "a very important and attractive market for K.K.R., and our experienced tam on the ground in Japan looks forward to leveraging KKR's Global expertise experience." Other notable leaders on KKR's global team include former General David Petraeusand former RNC Chairman Kenneth Mehlman.
http://aclassasset.blogspot.com/2013/10/kkr-and-panasonic-agree-on-price.html
KKR's continued asian adventure, this time India.
We have been following KKR's on going investment crusade in Asia. As part of their $6 billion dollar asian fund, the New York based firm has been investing all over the region. There is speculation that much of KKR's foreign investments are guided by its Global Institute.
Some of the countries they have so far invested in this year include Indonesia, Malaysia, Vietnam, China and Japan.
Now the firm is likely to announce in the coming weeks a major investment into India's Gland Pharmaceuticals. This deal would be worth around $150 million and would be the second sizable India investment in six months. In April KKR bought a controlling stake in India's Alliance Tire Group from Warburg Pincus LLC for what sources estimate to be around $500 million.
Gland Pharma was started in 1978 and makes active pharmaceutical ingredients and formulations for a number of different injections.
Investments have been falling in India. Compared to this time last year the amount of private equity investments has dropped 67%.
Britain has announced London will become an offshore center for the Chinese currency. It will be able to handle investments in the Asian nation’s tightly controlled yuan, thus stealing a march on Frankfurt and Paris.
Continued
Today, the stock market is higher once again but certain stocks have tumbled dramatically during market hours. In many cases, these drops were on epic…
Today, the stock market is higher once again but certain stocks have tumbled dramatically during market hours. In many cases, these drops were on epic intra-day volume and so fast they resembled the flash crash. Names like Netflix, Inc. (NASDAQ:NFLX), Facebook Inc (NASDAQ:FB) and LinkedIn Corp(NYSE:LNKD) are just some of these companies that experienced a massive mid morning collapse. While they have all bounced slightly, there is a bigger concern that is growing. These flash crash type moves in stocks show us that a crash like 1987 is possible. The markets are up on hot air (aka the Federal Reserve money printing). Today for instance, Wall Street got the Non Farm Payrolls number. The number of created jobs was mediocre at best, if not weak. In addition, this number was calculated based on the numbers prior to the government shutdown. So the next Jobs number should be even weaker. The markets rallied higher because this again dictates that the Federal Reserve will continue printing money for far longer than originally expected. The big concern to the intelligent investor must be how the market is continually moving higher on pure Federal Reserve intervention. Imagine if this market is shocked by something dramatically negative. A huge 1987 type crash could easily follow. A 20% drop in the stock market would basically just wipe out the gains from 2013. That is not out of this realm of possibility. Lastly, I wanted to mention a few interesting dates in history that surround this mid-October period. Just three days ago, on October 19th, 1987 the market crashed. Tomorrow, on October 23rd, 1929, the stock market crashed. This period in history has been bumpy to say the least and with the mini flash crashes in stocks lately, with the market at all time highs, I would be very careful. Gareth Soloway InTheMoneyStocks.com
City announces plans to install 175 new Divvy bike stations next year and wants to know where you would like to see ‘em.
This is a review of the weeks news in the financial market as well as tips for investing and managing your financial assets.
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