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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2338)	9/22/1998 4:18:00 PM
From: Tom	Read Replies (1) \| Respond to of 2951

Yiwu: IMO, also. And thank you, as always, for commenting.

To: RealMuLan who wrote (2338)	9/24/1998 2:19:00 AM
From: Tom	Read Replies (1) \| Respond to of 2951

I don't see what all the fuss is about. These boys would do the same for me. Wouldn't they? WASHINGTON ( AP ) -- A private investment fund nearly collapsed Wednesday from losses on more than $100 billion invested in financial markets around the world, The Washington Post reported in Thursday's editions. In response, chief executives and other top officials from two dozen of the world's largest banks and brokerage firms spent six hours Wednesday at the New York Federal Reserve Bank putting together a preliminary rescue plan of more than $3.5 billion, the newspaper said. The Greenwich, Conn.-based fund, Long-Term Capital Management L.P., is run by John Meriwether, a former bond arbitrage specialist at Salomon Brothers. Partners include Nobel prize-winning economists Robert Merton and Myron Scholes. The Post described the rescue package as a takeover by creditors who want to buy time to recover some of the firm's losses. The consortium of banks lending the money will now own 90 percent of the firm and appoint an oversight committee to make sure its market exposure is reduced.

To: RealMuLan who wrote (2338)	10/3/1998 1:33:00 AM
From: Tom	Respond to of 2951

Yiwu: I came across this in a report yesterday. Appears we were both right. --------------------------------------------------------------------- Beijing -- (Agence France Presse) The total abolition of subsidized rent -- which since 1949 has allowed tens of millions to pay less than one percent of their salary for apartments provided by employers -- was officially due to come into force last July 1. Faced with the outcry this prompted, the deadline was put back to the end of this year but few experts believe even this date can be met. "The reform is being implemented, it has even accelerated somewhat during the summer but it is facing many administrative and bureaucratic difficulties," said Steve McGurk, an economist with the Ford Foundation in Beijing. ---------------------------------------------------------------------