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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (18779)	6/26/2001 1:06:38 AM
From: Don Green	Respond to of 30051

Les> Nihon Keizai Shimbun business daily reported on Friday that Japan's 15 major banks are poised to sell 3.7 trillion yen I think we need to keep things in their proper perspective! Golf Courses Failing At Worst-Ever Pace: Survey Saturday, June 23, 2001 TOKYO (Nikkei)--A total of 23 golf course operators went bankrupt between Jan. 1 and June 22, eight more than during the same period last year, with combined debt leaping more than 200% to 447 billion yen, according to a survey by Teikoku Databank Ltd. Factors behind the worst-ever spate of golf bankruptcies include deteriorating business amid a drop in the number of golfers, as well as an increase in club members seeking to redeem their deposits. Many members who joined clubs during the bubble era are now becoming eligible to redeem their deposits, as they have waited the requisite 10 years. Another factor is that creditor financial institutions and debt servicers have intensified efforts to recover loans made to golf courses. Bankruptcies could accelerate in the latter half of the year if banks step up efforts to completely wipe bad loans from their balance sheets, the private research institute predicted. Of the 23 failed operators, 17 applied for court protection under the Civil Rehabilitation Law that went into effect in April 2000, the survey said. The number of golfers has been declining since peaking in fiscal 1990, causing many courses to struggle in recent years. Last year, 33 firms failed, leaving a total debt of 601 billion yen. "Many golf courses are said short of operating funds. The amount of failures and total debts will be the worst this year, surpassing the record set last year," said an analyst. (The Nihon Keizai Shimbun Saturday evening edition)

To: Les H who wrote (18779)	6/26/2001 10:02:14 AM
From: Jim Willie CB	Respond to of 30051

Japanese banks must shed assets after a short period of time when their treasury holdings leave them under pctage requirements set by govt regulators that is one major reason why govt support has come for banks and big corporations they dont want to set it into motion it is now being set into motion as the upcoming selling begins, watch buyers step aside the decline will be to lower levels than anticipated where will buyers come from? it will likely feed upon itself we will see 3.7 trillion yen is a lot of chicken it sounds big but it amounts to about $30 billion correct me if I am wrong but that would be taken care of in less than one NewYork day I believe the volume will be much more than that and it will happen in waves after each wave, more shedding of assets will be forced mark-market reqmts will leave banks under legal limits after each wave kind of like margin selling without the 3-day reprieve / JW