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RANGY - From Moneynet
(Fafner)
Nov 10, 14:17
11/10 13:31 Randgold <RNGJn.J> announce consolidation of
ADRs
JOHANNESBURG, Nov 10 (Reuters) - South African gold
mining firm Randgold & Exploration Co Ltd. on Tuesday
said it had consolidated its NASDAQ-listed American
Depositary Receipts (ADRs) on a three-for-one basis.
"The reason for the reverse split was that the share
price was too low to remain listed on NASDAQ," Randgold
said in a statement.
The change came into effect on November 9.
The company's ordinary shares will remain the same.
Millennium bomb ticks louder and louder
(Y2K)
Nov 10, 12:50
European firms lag the US on defusing the millenium bomb
European companies have underestimated the 'millennium
bomb' and it is now too late for many to fix computer
systems in time for the year 2000, according to a
leading computer services group.
The 'millennium bomb' refers to the fact that anything
from computers to household appliances could cease to
function at the dawn of the new millennium.
The problem occurs because older computer systems are
unable to recognise the date change from 1999 to 2000.
The 'bomb' is proving far more difficult and expensive
to defuse than first thought, with companies struggling
to beat the clock and sort out their computer systems in
time.
Costs explode
US and European companies' estimates for beating the
computer bug have risen by a fifth to a staggering
£508bn in the last six months according to Cap Gemini,
the leading computer services firm which undertook the
survey.
Cap Gemini warns companies are not leaving themselves
with adequate time for testing changes.
Smaller businesses are particularly at risk, with many
companies not recognised the threat posed by their
suppliers not being ready for the year 2000.
Fiend Commentary on gold
(Ischcabibo)
Nov 10, 09:35
There appears to be a very gold bugs out there. The
results from the latest poll show that over 50% of the
276 respondents feel that the price of gold will move up
over $400 an ounce in the next two years. 33% of the
respondents see the price shooting up above $500 an
ounce and 17% are predicting a move above $750 an ounce.
I feel that gold will definitely be moving higher over
the next couple of years once the public loses
confidence in stocks and the U.S. dollar in general. At
the moment, there is not much investor concern for
safety and an example of such sentiment can be seen in
the almost surreal performance of the internet stocks.
There is no doubt about it, $1,000 invested in Yahoo! is
perceived to be far safer than $1,000 invested in gold.
Brazil in Looming Collapse
(LoEnLaLi)
Nov 10, 09:21
wallstreetcity.com
RANDGOLD tidbits..
(POLARBEAR)
Nov 10, 09:20
Here's the latest on the symbol “chaos”
geocities.com
And more importantly, here's the latest on what really
matters, digging up gold!
geocities.com
A friend of mine is meeting with the top dog at RANDGOLD
this Friday, so I will have the latest intel by this
weekend.
S. Korea, Thailand Crisis Said Over
(Hyundai)
Nov 10, 09:16
By JOSEPH COLEMAN Associated Press Writer
TOKYO (AP) -- South Korea and Thailand are over the
worst of the Asian economic crisis, but grinding poverty
still stands in the way of recovery in Indonesia, the
president of the World Bank said Tuesday.
*********************
I am flabbergasted by some Westerner's myopic view of
the Far-East. The above is the opening remark of an
article posted to the net. The president of the World
Bank is saying in essence that "the patient's prognosis
is better, but he is brain dead."
***********************
A little further down in the article it says: " For
example, 60 million Indonesians are surviving on just $2
a day, while another 15 million scrape by on a daily
budget of $1 or less, he said. Private debt to foreign
creditors also totals $60 billion…" etc etc
newsday.com
The Financial Iceberg Which Will Sink the Banking Titanic
(AG)
Nov 10, 08:49
Across the years we have heard ad nauseum "the banking
institution is TOO big to fail." Frighteningly, this
smacks of the glib cliche that "ABC Bank will not be
allowed to fail because it is too large." DON'T BELIEVE
IT! The world heard the same nonsense in 1912 just
before the Titanic's maiden voyage.
Here is an article which should put the fear of God in
you. It is a credible report about the draconian
magnitude of financial derivatives scooting through the
worlds Internet networks at nana-seconds speed -
literally TRILLIONS DAILY. Recall a 'Trillion' is any
number followed by 12 ZEROS. Consider the lethal extent
of this "Derivative Iceberg."
"There are some who say that there are $140 trillion in
face value of derivatives outstanding in the world today
and we agree. As you can see world markets are a giant
casino. The BIS says there are $82.6 trillion worth.
That is still twice the world's GDP, and five to six
times the world's annual productive product. Those are
1996 figures, so if usage grew 15% in 1997 that figure
would be $95 trillion, that they'll admit too."
I am in mortal fear the LTCM fiasco will be eventually
be considered a "Srping Shower" in comparison to the
financial hurricane looming on the horizon.
Here is the entire report:
usagold.com
In Re Citigroup
(Fafner)
Nov 10, 08:29
Short the pig!
IN THE SHADOW OF LTCM HEDGE FUND DEBACLE
(AG)
Nov 10, 08:15
Another Citigroup exec follows Dimon out door
NEW YORK, Nov 9 (Reuters) - Citigroup said on Monday
that Steven Black, global head of equities at its
Salomon Smith Barney securities arm, resigned in an
ongoing reshuffle at the top of the the world's biggest
financial services company.
yahoo.co.uk
Do we see Citicorp retesting its 1992 low again at
around $3 (yes, that's three bucks)?
iqc.com
This is 93% below current levels. Positive thing is it
would teach a little humility to the heretofore
arrogantly smug bankers.
WHO SAYS THE Y2K BUG DANGERS AIN'T REAL?
(Y2K)
Nov 10, 08:02
Chevron won't fix all Y2K bugs in time
Chevron Corp., the fourth-largest U.S. oil company,
expects to spend $200 million to $300 million to fix its
so-called Year 2000 computer software bug, according to
a company regulatory filing.
San Francisco-based Chevron said it has spent so far $40
million making sure its computers will recognize the
year 2000. The company also said work won't be finished
when the clock turns to Jan. 1, 2000. |
