Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (40981)	10/9/2008 10:56:15 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218131

just in in-tray The number of China parties walking away from contracts will increase rapidly from here, as in past... *** FerroChina `Insolvent,' May Sell at Discount, OCBC's Chia Says 2008-10-10 02:08:06.710 GMT By Jake Lloyd-Smith Oct. 10 (Bloomberg) -- FerroChina Ltd., a Chinese steelmaker unable to pay its debt, may be worth 28 percent less than its last traded share price if the mill attracts a strategic investor for a rescue, according to OCBC Investment Research Pte. ``FerroChina is technically insolvent,'' Kelly Chia, an OCBC analyst wrote in a report dated today as the Singapore brokerage suspended coverage of the company. The loans it can't pay ``are primarily from Chinese banks,'' Chia wrote. The mill yesterday blamed the ``economic crisis'' for not being able to pay 706 million yuan ($104 million) in loans, and said a further 4.52 billion yuan in loans and notes may also be at risk. Output has been halted at its plants in Jiangsu province and FerroChina is in talks with creditors and potential investors. If a so-called white knight were to rescue FerroChina, paying 40 percent to 50 percent less for a stake than the company's net assets were worth in the first half, FerroChina may be valued at 39 Singapore cents to 46 cents a share, Chia wrote in the report. The stock, which is listed in Singapore, was suspended from trade from Oct. 8 at 54.5 cents, valuing the Changshu, Jiangsu-based company at S$436 million ($295 million). The shares have slumped 80 percent over the past year. The escalating credit crunch has toppled banks in the U.S. and Europe, frozen credit markets and slowed economic growth, curbing demand for China-made products. Steel prices and demand in China have been declining. ``We are trying to get further updates from management,'' Chia wrote. The steelmaker's failure to pay the loans may have been caused by customers not being able to pay for orders or a slump in sales, the analyst said. Calls to FerroChina's offices in Singapore and its China headquarters weren't immediately returned. --With reporting by Helen Yuan in Shanghai. Editors: Teo Chian Wei, Tan Hwee Ann.

To: carranza2 who wrote (40981)	10/10/2008 3:17:51 AM
From: elmatador	Respond to of 218131

Electorates will com in the streets, cozy political alliances will tumble. New leaderships will raise. This is the beginning of the middle. We have passed the beginning of the beginning, the middle point ofthe beginning. Passed the end of the beginning, now we are at the beginning of the middle. Then will come -in a very quick succession- the middle of the middle, then the beginning of the end. A system exhausted for almost 40 decades can't be put on foot again.

To: carranza2 who wrote (40981)	10/10/2008 6:12:41 AM
From: Chas.	1 Recommendation Read Replies (1) \| Respond to of 218131

Don't know about rest of the world but here in USA ... The quickest way to restoration of the failed American confidence in the financial system and the DJIA will be thru a purgeing of our Political oversight system with Jailtime for the guilty ie Barney Frank, Chris Dodd, Jamie Gurlick, many many others.... but this ain't gonna happen because they are running the show... Rubini has it right IMO but doesn't touch on the US political inner workings and how all this got fueled up and then lit off... regards