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To: Knighty Tin who wrote (40937)	11/10/2005 11:43:37 AM
From: Tommaso	Read Replies (4) \| Respond to of 116555

OT >>> but was not really into serious pain delivery technology<<< There must be spas for that, but I don't see any ads for them in the Sunday supplements. I do have an "E-Stym" gadget that was supposed to rehabilitate my shoulder (didn't) that some people use for body building. I think it might work for pain delivery at its highest setting, but am no judge; the Minnesota Multiphase Personality Index rated me abnormally low on masochism.

To: Knighty Tin who wrote (40937)	11/10/2005 11:47:13 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Rogers Funds, Refco Creditors Ask Court to Block Sale (Update1) Nov. 10 (Bloomberg) -- Refco Inc., the bankrupt futures broker that's auctioning off its assets and may decide on a buyer as soon as today, faces a potential obstacle from creditors who say they'll be hurt by a sale. Funds controlled by Jim Rogers that claim they're owed $362 million by Refco asked a court yesterday to reject any agreement the company reaches with a bidder. Creditors including Rogers, a former partner of hedge fund pioneer George Soros, said the proposed terms of a sale would block them from collecting from accounts that remain frozen. Refco, based in New York, is trying to raise money to pay off debts after filing the 14th-largest bankruptcy in U.S. history on Oct. 17. The auction, which began yesterday morning, continued late last night, said Refco spokesman Jim Craig. ``To relegate all potentially injured parties to look solely to the sale proceeds for restitution and damages of what may amount to one of the largest U.S. corporate scandals and otherwise absolve potential defendants of any liability is unconscionable and must not be sanctioned by this court,'' the Rogers Funds said in a court filing yesterday. The U.S. Bankruptcy Court in New York should block the Refco sale ``in its entirety,'' the filing said. Craig said late last night that Refco's lawyers were at the auction and couldn't immediately comment on the objections filed by customers and creditors. Five Bidders Refco said last week that five groups submitted bids to participate in the auction. Man Group Plc, the world's biggest publicly traded hedge fund manager, Interactive Brokers Group LLC and a group led by the Dubai government said they submitted bids for Refco assets. New York buyout firm J.C. Flowers & Co. also submitted a bid, according to court documents. Refco yesterday disqualified Alaron Trading Corp., a Chicago-based futures trader specializing in individual accounts, from bidding. The auction may result in a bid of as much as $1 billion, said Alaron Managing Partner Gary Weber. Customers and creditors that also filed objections to Refco's auction include Leuthold Funds Inc., Leuthold Industrial Metals Fund LP, Inter Financial Services Ltd. Refco's Chicago landlord, West Loop Equities LLC, argued that a transaction shouldn't be approved until the landlord learns the fate of its $6 million annual rent for office space on West Jackson Avenue. Rogers Funds If the sale goes forward, the court should freeze the proceeds until it determines the status of the Rogers Funds' assets, the funds argued. The Rogers Raw Materials Fund and the smaller Rogers International Raw Materials Fund LP together are owed $362 million by Refco, according to court filings. Rogers Raw Materials Fund is listed in court papers as the fourth-biggest holder of unsecured Refco claims, with $287 million, and the other fund ranks No. 13, with $75 million. Federal prosecutors have until today to charge Refco Chief Executive Phillip Bennett, 57. Bennett was arrested Oct. 12 by U.S. authorities and charged with securities fraud, prompting a customer exodus and the shutdown of several units, including Refco Capital Markets Ltd. He may face life in prison if he's convicted. Refco's shares rose 4 cents, or 3.4 percent, to $1.20 yesterday on the New York Stock Exchange. The shares had been worth $30 each two months ago. The company's 9 percent notes maturing in 2012 rose .5 cent to 77.5 cents on the dollar yesterday, according to Trace, the bond-price system of NASD. The notes are 30 cents on the dollar below the price before the company's disclosure on Oct. 10 of the hidden debts. The bankruptcy case is In re Refco Inc., No. 05-60006, in U.S. Bankruptcy Court, Southern District of New York. bloomberg.com

To: Knighty Tin who wrote (40937)	11/10/2005 11:50:19 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Fannie Mae files a late filing notice for 3rd Q 2005 biz.yahoo.com

To: Knighty Tin who wrote (40937)	11/10/2005 12:05:44 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Merc to offer housing-price futures next year Associated Press Published November 10, 2005 The Chicago Mercantile Exchange has committed to offer trading next year in a category many consumers take personally: home prices. Housing-price futures, based on the median home price in 10 U.S. cities, aren't being tailored specifically for homeowners. But they may provide some protection for mortgage companies, home builders and anyone else with a large stake in residential real estate. The novel investment product is set to make its debut in April, based on a final go-ahead given by the Merc earlier this fall after months of exploratory work. "There really is no way now for anyone to hedge home prices," said Sam Masucci, chief executive of Macro Securities Research, the Morristown, N.J.-based financial research firm that's developing the contracts with the exchange. "Or for institutional investors to gain exposure to the market without going out and buying homes. "Housing is one of the largest asset classes in the world, and we thought it made a lot of sense to give people access to it." The concept of real-estate futures has been discussed since the early 1990s, but it took a boom in housing prices to propel it to reality. Home values appreciated 65 percent nationwide from 2000 to 20004 and more than doubled in some areas, according to the National Association of Realtors. U.S. residential real estate was valued at $18.6 trillion at the end of last year. "One never knows when you launch something like this, whether it's going to be successful or bomb," Masucci said. "But all the elements are there for it to be successful." Investors will be able to trade contracts electronically based on median home prices in Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco or Washington--or a composite index of the 10 cities. Anthony Sanders, a professor of real estate finance at Ohio State University, said the housing futures move is long overdue. "There's a huge demand out there on behalf of financial institutions to hedge their housing exposure, so this should be able to take off," he said. Robert Hartwig, chief economist at the Insurance Information Institute, a trade group, was more skeptical. "While I think that theoretically it's a good idea, I'm not sure how much the market is going to materialize," Hartwig said. Felix Carabello, the Merc's associate director for alternative investments, said the exchange continues to receive e-mail inquiries from home builders, hedge funds, pension funds, construction suppliers and mortgage insurers that demonstrate their interest. chicagotribune.com