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This - Global credit crunch (http://news.bbc.co.uk/1/hi/business/7521250.stm) - is what happened because a bunch of Oicks (http://www.urbandictionary.com/define.php?term=oik) moved from selling on street barrows (The Barrow Boys) to influence and control the policy and structure of leading financial Institutions. The pure mental gristle of sell,sell,sell overawed all fiscal logic. Put these ahso's on the scrap heap. They wink, nudge, push a few buttons and screw whole countries because actually - they don't know what they are doing. Not the foggiest, have they got other than the size of their bonus (http://parrots4parties.com/images/prop-party/gallows.jpg). They don't know enough to give a to55 and wouldn't anyway if they did. Thicko's. Twat's. Morons.
It's enough!There comes a point in every venture -
Salesmen yo..............
At that moment, and ever after
Your most important Asset is your Compliance Officer.
Do Not - Bonus (http://parrots4parties.com/images/prop-party/gallows.jpg) them up!
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The point of my li'l rant is this.
These idiots and the criminals hiding behind them
Have, for their petty self interest destroyed in the USA alone
some 500 Trillion dollars of Property equity to save some over inflated Hedge Funds.
That is 500 Trillion. Write that down you idiots!
Further - A handful of VERY lnfluential business consultants scattered around the world appreciate and ACCEPT CHAOS as worthwhile and profitable. They are physcologists (students of the human mind and human behavior), and belong in straight jackets.
Their next concept - System Optimised Default Option Futures Finance.
This round of designed (and totally cocked up) devaluation is not yet complete.
It is however - already priced into Stock Markets.
What a wonderful screw up!
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Some cocked up software - That's all it is.
Governments today are proving the Cheap Credit model of Finance as they move to save Banks and Financials.
It is not enough.
Underlying economic models and practise are flawed and must be corrected.
Until things are amended the help is needed by business - all of it needs to survive.
Forget profit today - just keep the people who earn it around.
Money, cash - needs to go into pockets and purses.
Loads of it, now. Give it away.
The problems caused by the valuation problem are that problems' amplifications.
The problems, each and every one of them - are now amplifying themselves.
Exactly what happened with derivatives
Now the entire global economy is in play and DEFLATING.
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http://manyeyes.alphaworks.ibm.com/manyeyes/images/bubble-chart.gif (http://manyeyes.alphaworks.ibm.com/manyeyes/page/Bubble_Chart.html)
It might take a West Ham fan to appreciate the above. :p
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herosrest
02-14-2009, 08:11 PM
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Where ever loose or sharp money and property come together - pain, grief, loss and disadvantage follow- for the majority involved. In a word - Satyam (http://www.nytimes.com/2009/01/08/business/worldbusiness/08satyam.html). Here not only Finance and Building/Property have come together, but IT, Banking Services, Call Centres and quite a bit more. The Mumbai terrorist problems delayed discovery of the company's problems which emerged shortly after anyway.
In defence of Hedge Funds. (http://news.bbc.co.uk/1/hi/programmes/the_daily_politics/7888452.stm)
Hedge Funds don't have to track the overall Stock Market. They make their own.
A business earning 13% on equity and returning 11% to investors will double its assets (http://www.thesilverbee.com/wp-content/uploads/flying-pig-jpg.JPG) in less than 4 years unless it borrows to return.
This is a very conservative Hedge Fund deal.
It is legitimate business - though wide oen to largesse and abuse.
http://blogs.psychologytoday.com/files/u115/bubbles.jpg
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herosrest
02-14-2009, 08:38 PM
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Resolving a troubled sector of a housing market
should not have caused even a blip to growth.
Much, much more is underway.
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http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif (http://en.wikipedia.org/wiki/Bubble_sort)
Genius's are amongst the dumbest people on earth.
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herosrest
02-14-2009, 08:50 PM
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The Hedge Funds should have been allowed to rescue the troubled Financials and Banks.
In fact, it should have been shoved down their throats.
They would almost certainly have made a good job of it.
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http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif (http://en.wikipedia.org/wiki/Bubble_sort)
Genius's are amongst the dumbest people on earth.
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Obviously - there is something quite silly and decidedly dodgy about the software valuing markets and opportunity - RETURN. It's all a load of rubbish. To the heart this li'l mistake went. Right to the heart because a bunch of obsessed introverts do not know what to do next to grow the cash flow they need to keep paying off investors so they stay hooked and don't burst the Bubble's. Madoff was a spratt. A mere tiddler.
The Analysis software is bollox. Flawed logic. How long is it going to take someone to spot this li'l hiccup. Who's going to own up to all this Monopoly Money game - 'cos someone had better - very very SOON. At the moment it remains laughably ridiculous. That is about to change.
I guarantee IT!
herosrest
02-14-2009, 10:03 PM
The market WILL sort it out. Instantly.
It reflects life - not the other way around.
People who take risks are stupid.
It's unfortunate - that's life. :r
mireland
02-14-2009, 10:06 PM
The market WILL sort it out. Instantly.
It reflects life - not the other way around.
People who take risks are stupid.
It's unfortunate - that's life. :r
thank you Master Yoda...:rolleyes:
herosrest
02-14-2009, 10:32 PM
The consequences of revitalising value are a simple mirror of stock holders history across the last 30 months - they trade on. They are hooked also, and have been victimised.
http://riveronmirror.files.wordpress.com/2008/02/kate-moss-cavalli.jpg
Cash is the problem - until there is enough flying around. A nice lube job needed to handle that.
herosrest
02-15-2009, 02:09 AM
Devaluing Assets of a troubled SECTION of the Home property market,
probably makes reasonable sense to those in business seeing opportunity and to those threatened by defaults.
However, flooding that devaluation across the entire market rather than the troubled sector is extreme folly.
The national current accounts are destroyed. The implications are unbelievable.
This has never been intended, let alone contemplated by any rational individual ever.
It is insanity and gets fixed - 30 seconds after the people who can, can fix it.
Once it is understood - it makes total sense as fact.
There ain't no messing about. Oooooer, lets analyse it.
That's been going wrong for quite a time now - human nature at it's worst.
There's been a huge cockup - ooooooer, what do we do.
http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif
Where is my pillow........... There is no brake with rules as they are. It just carries on. http://www.seti.ee/up/cat-squeeze.jpg
herosrest
02-15-2009, 11:47 AM
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Two Trillion a day ASSET DEVALUATION.
Identical homes side by side. One sells for x.
That does not value the other property at x.
That other property is not on the market for sale. The property is valued by the Home Loan contract which states it is worth the Insurance rebuild cost. Rebuilding that home today, gives it a current value. Then it gets interesting - To decide a sale price all sorts of mumbo jumbo cums into play. So the ultimate valuation is arbitrary subject to professional assessment. A current unequivocal property valuation exists and would surprise a lot of people. It is a legally defined valuation - by a home lender and executed by Insurers. What more could you want, unless you are a trader in the much smaller market of homes for sale. There is huge difference between properties on the market for sale and those which are homes and the home owners asset. Traders laying claim and valuing 96% of a market that has utterly nothing to do with them is the nightmare that is being faced today.
By revaluing troubled assets in a minority market, somehow, twists of dick head logic, have deflated a market 20 times larger.
Ho ho, so so what - you say................... the devaluation is chugging along nicely in descent to the tune of amounts in excess of one trillion dollars a DAY. Certainly not - small potato's. If that one kinda drifted by.......... here's a repeat. A devaluation that is considerably in excess of one Trillion Dollars per day and is probably actually Two Trillion. If anyone is telling you that home loan defaulters are wrecking things you have full permission to Burd! them. One to two Trillion in assets vapourising each and every day. So the next time you are looking at Financial people and getting the jargon - remember, remember what an utter bunch of self serving clowns they are. Two Trillion a day. That is just the Home property market they have misvalued..............
In all honesty, realised in time - who is going to own up to it. Worth thinking about.
I shti you not.
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herosrest
02-15-2009, 12:23 PM
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Now call me cynical, OK.
Normally, as property value increases the home owner may increase their loan.
That is a huge market.
Admittedly small increases to each individuals loan - but a vast resource.
Who else is just happening to require very large amounts of lending at this time
well, ............ how about the Private Finance Funds that are drooling
to get into that 2-3% of troubled and massively DISCOUNTED homes.
They will borrow CHEAP - VERY CHEAP - to Invest and then borrow again and again to leverage the ASSeT.
Meanwhile homeowners are stuffed by falling value and unable to borrow.
You are maybe getting the hang of it.
This IS the way traders think. An entire economy is being wrecked! for what!
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herosrest
02-15-2009, 12:39 PM
Now - the punch line
Where is that money going to be borrowed.
http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif
Obviously the Finance Funds think they know - deals may even be in place.
HA! HA! another cock up!
Their Investors are going broke.
All over the World.
http://www.seti.ee/up/cat-squeeze.jpg
herosrest
02-15-2009, 01:02 PM
Private Finance will use 0.5% Government loans of 500m to Buy distressed property, This asset will allow them then to borrow 650m when they 'write up' the property values by 30%. Remember they grow 13/11 or more per year, which oddly is.....erm 150m or so if you include fees, jaunts and the odd Lear JET. Then what?............ 'ave a guess. Go on.
Easy actually, they sell or rent the property. Then borrow against that... good init.
Now comes the clever bit, they start leveraging................... ooh la la!
Profundity (http://www.merriam-webster.com/dictionary/profundity) - What a lovely word. Roll yer R's. Hi J-Lo.
It is profound - The Eminent, political Leaders, Industrialists, Economists, National Officials, Billionaires Trader representatives, Internationalists, CEO's and a coterie of their droppings returned from the World Economic Forum (http://www.weforum.org/en/index.htm) held at Davos (http://en.wikipedia.org/wiki/Klaus_M._Schwab) to advise "WE are clueless.
There is a mess and we dont know how to fix it."
I wonder, honestly, do they honestly expect their bonus.
Klaus Martin Schwab (http://en.wikipedia.org/wiki/Klaus_M._Schwab) is a CONTROVERSIAL economist businessman,
president and founder of the World Economic Forum (http://www.reuters.com/news/globalcoverage/davos).
He like all others at Davos hasn't a clue what is going wrong with the World economy or how to fix it.
Schwab participated in the controversial Swiss IT company Think Tools AG (http://en.wikipedia.org/wiki/Think_Tools_AG).
A DOT.COM business and consultancy, whose tools support Corporate problem solving
being the result of research at the Max Planck Institute of Physics into cognitive processes.
He is a Psyclogist and BUBBLE economist (http://en.wikipedia.org/wiki/Economic_bubble).
That is the fact of the man - he blows bubbles. Micky Mouse economics.
We do know one thing, though from Davos, oil WILL grow in price to 120-150 dollars a barrel during the next few years - many people at Davos say so and economic plans are being developed for the fact!
What gives peeps - partying down, Super Bowling, Secret meetings, slap up feasts, mince tarts........ bubbles.
Dot com bubble. (http://en.wikipedia.org/wiki/Dot_com_bubble)
I have a question, just one.
Who was head of the NASDAQ stock exchange at the time of the Dot.Com CRASH.
OMG - Bernard MADOFF (http://en.wikipedia.org/wiki/Bernard_Madoff) wasn't there then, was he? aaaaaaaaaaaaaaaargh!
Turning the tables: Can you help Davos leaders? (http://blogs.reuters.com/great-debate/2009/01/27/turning-the-tables-can-you-help-davos-leaders/)
I can, you are INSANE. A Cuckoo. (http://projects.exeter.ac.uk/RDavies/arian/scandals/mafia.html)
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herosrest
02-15-2009, 07:20 PM
TREASON is a Catch ALL scenario. (http://parrots4parties.com/images/prop-party/gallows.jpg)
herosrest
02-15-2009, 07:34 PM
We are going to be Integrated. Now you know! http://www.youtube.com/watch?v=Ua1F6tB0SUY
herosrest
02-15-2009, 10:18 PM
Let me introduce you to Modern portfolio theory (http://en.wikipedia.org/wiki/Modern_portfolio_theory)
Yawn )-|- The Theory
One of the most important and influential economic theories dealing with finance and investment, MPT was developed by Harry Markowitz and published under the title "Portfolio Selection" in the 1952 Journal of Finance. MPT says that it is not enough to look at the expected risk and return of one particular stock. By investing in more than one stock, an investor can reap the benefits of diversification - chief among them, a reduction in the riskiness of the portfolio. MPT quantifies the benefits of diversification, also known as not putting all of your eggs in one basket.
For most investors*, the risk they take when they buy a stock is that the return will be lower than expected. In other words, it is the deviation from the average return. Each stock has its own standard deviation from the mean, which MPT calls "risk". ;)
* (Gamblers are not most investers)It simply works. Tried and trust-ed. (http://www.investopedia.com/articles/06/MPT.asp)
This can be a real BIT of CH - if it is screwed up - Click (http://en.wikipedia.org/wiki/Stock_valuation) http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif
herosrest
02-15-2009, 10:44 PM
Everyone has by now realised, I hope, that Hedge Funds are not subject to RISK.
They make their own Markets.
Financial Derivative Trading Instruments (http://en.wikipedia.org/wiki/Derivative_(finance)) please exit - <<<< stage left for Government AUDIT! and Tax assessment.
herosrest
02-15-2009, 11:09 PM
Professor Schwab is entering the history books having stated that -
'the current situation was a perfect example of where banks could
take the lead and devise a system of self-regulation,................'
Then there's this.
How could banks be so stupid?," several panellists asked, and allow things go so wrong so quickly?
The root causes for the economic crisis were too much debt, a culture of short-term rewards for long-term risk-taking and fatally flawed mathematical risk models. And plain old greed.
"Derivatives trading is all about how to make a bonus and how to screw your client," said Nassim Taleb, a former derivatives trader and author of "The Black Swan," a book about expecting the unexpected.
The result was a mountain range of "troubled assets" (one of the great euphemisms of the crisis, one expert said) that resulted in billion dollar losses and the need to bail out financial institutions like Fannie Mae, Freddie Mac and AIG even before Lehman collapsed.
herosrest
02-16-2009, 02:11 AM
Derivatives trading, debt, fatally flawed mathematical risk models and billion dollar losses are peanuts to the underlying problem they have caused. One to two Trillions of asset value loss per day, that's just US housing. It works through everything over a surprisingly short period of time. Quite a decent rate of growth actually. Not that that is what you want!
The asset loss will remain constant and amplify to all markets, time will accelerate.
These people are seriously dumb mothers - then we know that. Don't we. Oblivion anyone?
Those in the know, have been guided to a view that economic probbies are ugly, painful and long term.
It is as big a con as the motives for the deflation which is prime now.
Albeit perhaps accidental, assuredly the biggest cock up ever is accelerating to leave no value.
Anywhere. It wont halt or reverse when the people who can, try it.
Deflate - reflate. It ain't gonna work.
An Inbred practice of financial survival and a flaw in Economic practice and measurement have combined in subtle fashion that events are totally predictable all the way to destruction.
Plain simple human stupidity is at work.
Fortunately it is easy to correct practise and not impossible yet, to return 'stable business'. Neigh!
:t :tNever believe what people tell you, watch what they do! :t :t
It is so boring watching this rubbish going on! :D
herosrest
02-16-2009, 02:35 AM
Someone saying the entire US property market was distressed or defaulting would be laughed off court.
Yet, that is how every property, the whole lot, are valued and priced.
Then you get this plonker at the back whistling 'ability to pay'.
Throw him an egg to suck, will ya!
herosrest
02-16-2009, 03:37 AM
Someone saying the entire US property market was distressed or defaulting would be laughed off court.
Yet, that is how every property, the whole lot, are valued and priced.
Then you get this plonker at the back whistling 'ability to pay'.
Throw him an egg to suck, will ya!
It is a li'l too late to be resetting asset class flags - dont you think!
A rare, enjoyable, headache as stock values adjust - upwards by..................... hmmmmm.......... lots and lots and lots. :rolleyes:
http://files.myopera.com/herosrest/albums/215106/love-05.gif
CLICK (http://files.myopera.com/herosrest/albums/538228/Last.png)http://files.myopera.com/herosrest/albums/634358/smile.png
http://files.myopera.com/herosrest/albums/215106/SP_A0083.jpg
herosrest
02-23-2009, 03:57 AM
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So........ what's 3 zero's to a billion or so..... Trillions.
Still frightening numbers......... 'cos all that matters is VALUE.
Because it is as it is today value isn't anything other than a moving target, a tool to play with.
That really isn't on, is it.
It actually is bedrock, the ground we all strive to stand on.
That is what is required at the moment, a Stand. For the fire sale. :rolleyes:
Numbers can prove anything, especially if you are not listening when someone is showing them to you. Market logic and manipulations must be subject to the common sense of real life. There are a bunch of absolute genius's running around spouting this and that and proving Human Nature scientific with MumboJumbo. THEY ARE NOT OF THE REAL WORLD.
Here's another theorist proving theory... right or wrong - who does he answer to? CLICK (http://www.marketwatch.com/news/story/maybe-meltdown-not-you-think/story.aspx?guid=%7B956958F4%2D3CE2%2D4E1C%2D90EE%2 D1C1159F0CB14%7D&dist=TNMostRead)
Numpty Scottish usage:
a) Someone who (sometimes unwittingly) by speech or action demonstrates a lack of knowledge or misconception of a particular subject or situation to the amusement of others. - "No. That wisnae wit she meant, ya big numpty!"
b) Good humoured admonition, an endearment - "Silly billy", "You big dafty"
c) A reckless, absent minded or unwise person - "That numpty's driving with no lights on!"
チャットモンチチャットモンチチャットモンチチャットモンチチャットモンチチャットモンチチ THE REASON IT WENT TO HELL IS VERY SIMPLE - OVER GENEROUS RETURN FROM INVESTMENT BECAME THE NORM.
COMPETITION FOR FUNDS TOOK OVER AND............
CAN YOU FEEL IT - UTTER STUPIDITY and A GRAVY TRAIN OF WANNA BE'S
AS LARGE AS THE LIES THEY ARE TELLING.
THERE IS AN INVESTMENT RETURN BUBBLE THE LIKES OF WHICH HAS NEVER EXISTED BEFORE. EVER.
THAT IS WHY NO ONE KNOWS WHAT IS WRONG OR WHAT TO DO.
WHAT EVER TINKERING IS DONE - WHICH WHAT EVER WAY - THOSE INVESTORS - THE FUNDS - THE BILLIONAIRES - THE FINANCE STATES
THEY ALL GET BURNED - RUINED.
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10% earnings per share - 13% RoE - THE PERFECT BANKRUPTCY FORMULA.
AND THEY KNOW IT!
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So we give give it 10 years then...........blind stares.
herosrest
02-23-2009, 04:50 AM
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If you look at modern day Business, it is very, very lean.
Wages, costs, materials - with 'notable exceptions' able to defy supply and demand -
eveything runs lean and mean, very professional.
Economies, even rapidly expanding, should be tip top.
Yet look how Markets reward this incredible effort.
Take a long hard look............. all that efficiency, thrift, economy - what good does it do.
Was it passed on in reduced prices, rarely. Oh no...... it went to cuckoo land
investors who lost the plot and a tier of over hyped professionals who sneeze brown stuff.
Anyone who is looking at economics today and cannot see rip off........
.................................................. ...........is part of it or in the wrong job.
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herosrest
02-23-2009, 08:59 PM
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If you look at modern day Business, it is very, very lean.
Wages, costs, materials - with 'notable exceptions' able to defy supply and demand -
eveything runs lean and mean, very professional.
Economies, even rapidly expanding, should be tip top.
Yet look how Markets reward this incredible effort.
Take a long hard look............. all that efficiency, thrift, economy - what good does it do.
Was it passed on in reduced prices, rarely. Oh no...... it went to cuckoo land
investors who lost the plot and a tier of over hyped professionals who sneeze brown stuff.
Anyone who is looking at economics today and cannot see rip off........
.................................................. ...........is part of it or in the wrong job.
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チャットモンチチャットモンチチャットモンチチャットモンチチャットモンチチャットモンチチ
As I mis-represented previously - without raising even a titter of cross-fire here...:p
A MARKET of 100 million properties (http://files.myopera.com/herosrest/albums/634358/AOLLOX.jpg) worth 100,000 each is worth 10 Trillions. Devaluing that by 30% amounts to 8.2 some Billions of lost value per day. So what......... well that is an equity (http://financial-dictionary.thefreedictionary.com/Equity) problem that will haunt for years to come and is totally unnecessary. It is incorrect to assess the market the way it is. It is trickery and mis-representation. Accountants and finance people will disagree, strongly. But we must always remember that theirs is a logic of the market and they grow markets for percentage. Yes all that noise they make comes from below the waist and is usually directed in the opposite direction of audience. A property which is not for sale is not part of the market that these people represent as being in trouble and a problem. That is a simple fact. It does not matter how much or little people have to spend - the property is not in a market for sale. Explaining this proposition to a market analyst is real fun and shows how utterly brain washed they really are.
Imagining that all property is for sale at any given time boosts all kinds of dream income scenarios for these idiots but doesn't change the basic logic that a property not for sale is not a party of the market as it is measured today. This twist of logic is a real economic pain because a tiny, very small percentage of property that is for sale values all the rest which aren't. This holds true for many other markets. It is a profound matter and one which today is undermining economies in very serious fashion. As I point out at every opportunity - the rationale, economics and numbers of it are utter bollox. Traders, mark up, grow and manipulate markets. There is no finer example. Real Estate, eh!
NUMBER's A brilliant blog here illustrates the mis-representation that goes on by these high-flying PIGS.
Wall Street Can’t Count (http://www.cringely.com/2009/02/wall-street-cant-count/)
A simple error. The bubbles are two-dimensional so they imply that the way to see change is by comparing AREAS of the bubbles. But if you look at the numbers themselves you can see that’s not the case.
It got past Bloomberg, JP Morgan and pretty much all of Wall St. before someone said, “Hey, this makes no sense!”
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IDIOTS (http://i251.photobucket.com/albums/gg303/mmmmmjm/rs025.jpg) 'ARE' WRECKING THE WORLD - THEY REALLY ARE!
They cannot count or think through numbers!
And yet are the market analysts who FATE Trillions of value.
They are running the world! - into the ground for a bonus.
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Chevron caught up in oil agency scandal (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/12/BU4H12SGB3.DTL) - A government scandal mixing alleged drug use, cronyism and sex at a federal office that handles billions of dollars in oil-drilling royalties has ensnared Chevron Corp. The oil company, America's second largest, figures prominently in a report released this week that accuses government officials of growing far too close to their oil industry contacts. The report focuses on a little-known government agency at the heart of the offshore drilling debate, the Minerals Management Service, which leases government lands to oil companies.
Inspector General Earl Devaney says Chevron refused to cooperate with the investigation.
Gay Oil - Drilling for profit? - The report accuses members of the Minerals Management Service of accepting thousands of dollars in industry gifts, including meals, drinks and ski trips. The report, from the U.S. Interior Department's inspector general, also accused some employees of using cocaine and having sex with oil industry representatives.
INTERESTINGLY, even wisely, Obama also announced that he has put Vice-President Joe Biden in charge of overseeing the implementation of the $787bn stimulus package. Former secret service agent Earl Devaney will be the plan's watchdog. Mr Devaney's new job will be as chairman of the Recovery Act Transparency and Accountability Board and he will have to ensure that the stimulus funds are not wasted. "He looks like an inspector, he's tough, you know he barely cracks a smile," the president said. He further promises to halve deficit - over his Term (http://news.bbc.co.uk/1/hi/business/7906387.stm)and rid Switzeland of it's immense problem with gnomes.
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mireland
02-23-2009, 09:34 PM
you're a tool...
drewster
02-23-2009, 09:43 PM
If he is a tool he'd be a snap-on, or maybe a Facom.
herosrest
02-23-2009, 09:45 PM
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There is a money problem in the world today. Not a property bubble. Not devaluation problems. Not asset overprice. Not resource problems. Not really even the over abundance of stupidity.
There is a huge CASH FLOW problem for the Hedge Funds. THEY built a bubble. It is going to burst because the rules that made it possible have consequences - which everyone else is now experiencing. There is no way to solve it, apparently!
You cannot 'insure' a business venture - regardless of stupidity at the highest level - it is illegal. What ever way you look at the 'egg on your face' derivatives, they are a fraud! The lot of them. Honouring them is insulting.
Unreal profits and unreasonably high return from investment have built a bubble that has been leveraged to death and guess what - it is a cash business. 3-weekly, monthly, quarterly the cheques roll out. 10%, 12%, 14%. who knows.. and a balance sheet fiddle with assets makes it all look legal. That is the Phreaking problem. The sponge was squeezed dry and now it is clamped into a vice! The people doing this walk around as though they are God's chosen. They are not.
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drewster
02-23-2009, 10:16 PM
Nah he's something they use to build Peugeots or maybe citroens
mireland
02-23-2009, 10:19 PM
shut up..shut up shut up!!!!!!!!!!!!!!!!:rolleyes:
drewster
02-23-2009, 10:42 PM
shut up..shut up shut up!!!!!!!!!!!!!!!!:rolleyes:
:-@
herosrest
02-23-2009, 11:17 PM
you're a tool...If he is a tool he'd be a snap-on, or maybe a Facom.Nah he's something they use to build Peugeots or maybe citroensshut up..shut up shut up!!!!!!!!!!!!!!!!:rolleyes::-@
GENTS......... you simply cannot 'beat' quality. So go do something.................. useful. ;)
herosrest
02-23-2009, 11:31 PM
This was so...... good l did it again. :t
One so far unpraised, yet worthy aspect of Financial turmoil is the wonderous prospect that we all, every single one of us - become Merchant Bankers.
Oh hi! i'm a merchant banker. We self regulate, you know! It's soooo cool. :D i'm waiting for my share to go up. :x
herosrest
02-25-2009, 07:38 AM
Sharks harpooning Whales! - enough of this rubbish!
"We all felt at home among the sharks and stingrays,"
A crew - a motely crew - got together in insurance some years back - they are scattered to the 4 corners of the planet -
raising chaos and financial mayhem.
They all worked one place - one theme - one practice.
http://www.directart.co.uk/mall/images/l22.jpg (http://en.wikipedia.org/wiki/H.M.S._Defiant) http://www.sysopt.com/forum/images/smilies/wink.gif (http://en.wikipedia.org/wiki/HMS_Defiance)
Topic Terminated. 11-30-2004 to 02-03-2009. ;) http://www.sysopt.com/forum/images/smilies/t.gif (http://www.sysopt.com/forum/showpost.php?p=1465306&postcount=248)Traders..... deal makers, the Barrow Boys - have got their hands on the property market and are raping it.
They will tell you all day long that those fins on their back are an illusion and get away with it.
Sharks are harpooning whales.
How do you think the Hedge Funds are turning those pretty pennies.
It ain't the TAX dodges doing it.
People sign up for 25 years for this rubbish.. no funckin WAY! Lock them up! - with Insurance rebuild values. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/11/23/ccjeff23.xml Under Mr Wood, UBS's strategic risk management team has delivered an average annual return of more than 50 per cent over the past five years, earning $2.4bn in revenue for the bank.
Brian Keelan, the swashbuckling corporate financier who achieved fame defending the Co-op from a hostile takeover bid in 1997, is leaving UBS Warburg to join Jardine Matheson, the Bermuda-based conglomerate.
http://www.independent.co.uk/news/business/news/top-financier-quits-ubs-warburg-for-jardine-matheson-685735.htmlhttp://newsimg.bbc.co.uk/nol/shared/img/v3/bbc_logo.gif (http://news.bbc.co.uk/1/hi/business/7221827.stm) Click pic Deficits could rise sharply if radical new proposals about the way pension fund assets and liabilities are calculated and reported are adopted. The Accounting Standards Board (ASB) is responsible for the rules which govern financial accounting. "Investor SRM Master Global Fund Ltd., which bought a 5.19% holding in the Countrywide Financial Corp on Jan. 24, said Thursday in a filing to the U.S. Securities and Exchange Commission that the agreement did not “provide sufficient value” to Countrywide's common... "
- Nov 28, 2007 Reuters.uk,In a regulatory filing, SRM, run by influential former UBS trader Jon Wood, said it had bought another 2.5 million shares at 114.7 pence each.
LONDON (Thomson Financial) - SRM Global Master Fund Ltd Partners, the hedge fund seeking to stop the auction of Northern Rock PLC, has raised its stake in the stricken UK mortgage lender to 9.29 pct from 9.1 pct.
SRM, led by former UBS trader Jon Wood, said in a statement that it bought a further 800,000 Northern Rock shares at 0.929459 per unit, taking its total holding to about 39.143 mln shares.
[/URL] 21 December 2007, 18:29 GMT
Northern Rock has agreed to hold an emergency meeting for shareholders to discuss its sale process on 15 January. The meeting will be the first high-profile occasion for shareholders to grill management after the bank ran into trouble in September. Two of the bank's major shareholders are calling for restrictions on the bank's ability to sell the company's assets or issue new shares.
http://www.hedgefundreader.com/2006/08/srm_global_read.html (http://news.bbc.co.uk/1/hi/business/7155574.stm) Investors in SRM Global can choose from two fee structures – a 1 percent management fee to invest for a period of five years and 1.5 percent for three years. SRM Global will retain 25 percent of its profits.
[url]http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/12/ccdiary12.xml Hedge fund RAB Capital spared no expense when it came to organising this year's Christmas party: hiring out the London aquarium for drinks, dinner and dancing. "We all felt at home among the sharks and stingrays," jokes my man at RAB, who tells me the party continued at a Mayfair club.
Hang on a mo... NR got into trouble with a high risk strategy that Hedge funds exploited. Funny old world. Sharks harpooning whales. whatever next?What's the odds there is an equal amount of loss - sitting in books somewhere.......... bonds maybe........C0-INCIDENCE BEING RARER THAN TRUTH DURING THIS 21ST CENTURY
is it not oddity sublime that slap bang in the murdiddle of the worlds largest EVER Ponzi HaHa! scheme
that a renowned Banking World presence half a globe away manages to write off the exact same amount of troubles.
Well balanced them Swiss are. Very well balanced.
Senior UBS executives and board members may come under pressure to hand back Sfr60m (£32m) in bonuses paid out last year.
The Swiss bank said today that the issue of executive remuneration, including whether previously granted incentive awards will be repaid,
will be discussed at an extraordinary meeting for shareholders scheduled for November 27.
However, bank insiders denied that anyone will be forced to hand back a bonus that they have already received.
The bank, the worst European casualty of the 14-month-old financial crisis, writing down $50bn (£31bn),
has already indicated that it will not pay any bonuses this year to Peter Kurer, its chairman, and other executives.
http://www.guardian.co.uk/business/2008/nov/05/ubs-europeanbanks1 (http://www.guardian.co.uk/business/2008/nov/05/ubs-europeanbanks1) - Funny old world.
Traders..... deal makers, the Barrow Boys - have got their hands on the property market and are raping it.
They will tell you all day long that those fins on their back are an illusion and get away with it.
Sharks are harpooning whales.
How do you think the Hedge Funds are turning those pretty pennies.
It ain't the TAX dodges doing it.
People sign up for 25 years for this rubbish.. no funckin WAY! Lock them up! - with Insurance rebuild values.
Sharks harpooning Whales! - enough of this rubbish!
"We all felt at home among the sharks and stingrays,"
herosrest
02-27-2009, 08:40 AM
04-26-2008, 03:30 PM
Searching current world oil production data on the marketed search engines throws up useful links to a plethora of sources.
However the data is varied and inconsistent.
Delving and digging the links simply illustrates that no one really knows the truth of the matter.
'Authoratative' and accepted sources are misleading in the detail they provide.
eg
____Figures indicate that total production is increasing. Hoorah.
Unfortunately the numbers include Liquid gas - which is where the actual increasing production is taking place.
Try running yer motor on liquid gas. :p Boo. So the data is misleading - like just about everything in modern day life. Hohum.
Devaluing Assets of a troubled SECTION of the Home property market, probably makes reasonable sense to those in business seeing opportunity and to those threatened by defaults. However, flooding that devaluation across the entire market rather than the troubled sector is extreme folly. The national current accounts are destroyed. The implications are unbelievable. This has never been intended, let alone contemplated by any rational individual ever. It is insanity and gets fixed - 30 seconds after the people who can, can fix it.Once it is understood - it makes total sense as fact. There ain't no messing about. Oooooer, lets analyse it. That's been going wrong for quite a time now - human nature at it's worst. There's been a huge cockup - ooooooer, what do we do. Where is my pillow........... There is no brake with rules as they are. It just carries on.
http://upload.wikimedia.org/wikipedia/commons/3/37/Bubble_sort_animation.gif (http://www.seti.ee/up/cat-squeeze.jpg)
From somewhere or other - on't web............. not even accurate by a mile of numbered %'s but t'is the news.
"More than two years after the US property bubble began to implode, prices of single-family homes there plunged 18.5 percent in December from a year earlier. That was the latest in a series of record declines." Way optomistic.
There is belief that a price point exists at which investors can flood back for a killing. Ain't gonna happen. There is a belief that investments are safe and simply skip the next rain cloud. Ain't gonna happen. There is a belief the living off invested savings can go on forever. Ain't gonna happen. There is a belief the Goverment money will keep everything ticking over. Ain't gonna happen.
The declines are self fulfilling now. No significant majority, professional or private will move to protect themselves. They can make it on the margins - which is cash flow - current account and it is depleting at a rate of factors. No one knows - how much is required to service tha accumulated world savings. No one knows and at 10-12% it will destroy the Capital no matter where or how it is invested. This is for a very simple reason. The rules that govern savings investment are the same as ...... 2 + 2. They weren't just broken - they were torn up and lie in the corner damp and smelly. The economic model has been fine tuned to maximise return. It is a simple equation and works flawlessly unless it is biased one way or other. Play with that equation and you can see what is happening now. The inventory of goods that exists in the world at the moment is contracting. It will continue to contract. There is no inflation and yet prices 'are' increasing. If that doesn't bother any one - it should. Firms will fail at increasing rates. Wages ill contract at increasing rates. Credit demand will collapse. As the asset base devalues, it deflates the economy around it. The deflation is now unstoppable. Hey, that's a real bargain now............... no it ain't. It will be cheaper tomorrow and cheaper again a week hence. It is unstoppable regardless of what is done to throw cash at the problem. The more cash, the bigger the investment problem becomes because there is nowhere to earn a worthwhile return........... hohum. OK...... Hey Bernie, let me have my savings back. Will ya! Please. Oh pretty,pretty please. sob.
There's only one solution... under everyone's nose it is........... what a world, eh!
04-26-2008, 03:30 PM - That was a neat post - looking back. $700BN pa US
02-27-2009, 13:41 PM - This will be too. Buy dust masks.
GREED brings its own rewards. It is stupid and Stupid is stupid. This has happened before - Egypt was the last time l seem to remember. Several thousand years ago!
Unless someone is planning a return to a precious metal based coinage - there has been a screw up the likes of which is ......... well, there aren't words.
mireland
02-27-2009, 08:42 AM
man I'd rather see girlie pics instead of this tripe...:(
herosrest
02-27-2009, 09:02 AM
There has been a massive series of bumper crops. That crop was wealth. Now it will sit in the warehouses and rot - because it is totally useless.
Correction - it is totally destructive. Idiots at play.
herosrest
02-27-2009, 09:11 AM
man I'd rather see girlie pics instead of this tripe...:(
http://www.macarabia.net/forum/userpix/19_pablo_platypus_tapping_foot_lg_nwm_1.gifhttp://www.macarabia.net/forum/userpix/19_pablo_platypus_tapping_foot_lg_nwm_1.gifhttp://www.macarabia.net/forum/userpix/19_pablo_platypus_tapping_foot_lg_nwm_1.gif
There's always the "Frank A. Weil: Just What Is a Credit Crisis?" - post.
Eva Green........... You know your a naturist at heart.
Whilst there you can brush up on dichotomy and economic theory - trading heaven. :D
These Ducks are neat. They actually stop tapping if you click to exit the page...........
herosrest
02-27-2009, 09:36 AM
However much it seems that moving funds offshore is beneficial - it is a scam. Those holding the funds tax them behind your back - they must do - they are living off them as well - so the return required climbs. lf daft rates are offered to attract investment eventually it all ends in tears. People wanting your savings investment are shortsighted, investors and savers dodging tax are short sighted. It is all going to end in a lot more than tears.
Ooooooh gawd ......... Still may as well ....... :t
herosrest
03-02-2009, 05:16 PM
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Processing process processor Revelation. post #1283 (http://www.sysopt.com/forum/showpost.php?p=1432769&postcount=1283)
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12-21-2007, 06:38 PM - One of lifes little moments occured for me today. l ended up cashless, wanting a few moments to browse my newspaper this lunchtime. l wandered into a park l know well and used the pillar of a low brick wall to spread my paper. So l'm flipping pages and a pidgeon plonks itself down on the pillar, teasing me for tid bits - but l had no food with me. Off it went and on l read. Next, a big grey squirrel hopped up onto the newspaper eying me. l stayed quiet and still, enjoying the moment. It turned it's back on me, stood up a minute or two and then scampered off leaving me a wee present of golden liquid on the business pages.
Go on, smile. No one will ever believe it. Story of my life. チャットチャットモンチチャットモンチチャットモンチチャットモン
_ チャットモンチットモンチチャットモンチチャトモンhttp://files.myopera.com/herosrest/albums/30111/486673.png
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drewster
03-02-2009, 07:01 PM
Abacus
mireland
03-02-2009, 07:09 PM
is ducemus latin for "dickhead"?
drewster
03-02-2009, 10:32 PM
Nah its Greek for 'meds needed'
j.m@talk
03-03-2009, 02:05 AM
I don't think its possible to get sufficient meds in one location to deal wiv this issue ...... ECT may be beneficial tho' .......
herosrest
03-03-2009, 05:51 AM
EDUCE'ms (http://www.merriam-webster.com/dictionary/educe) :DThere is no R :(
Ya know how, in this awe inspiring, powered up, non discretionary and discretionless world we built - just s'pose, just for a wee moment, suppose - The wonderous, all knowing, immense, rich and powerful beings that actually hold sway - designing the way of things and running the system, yada yada ya..... really did make a huge, immense, disastrous cock-up off immensity so huge that just none of them could live with honesty of 'fessing up.
The error, the mistake is left to run and run and run - 'cos the few, the high and mighty that understand, can't face the implications - it will ruin them to sort it out.
l give you FAS 157 - 'Mark to Market' accounting - no one understands it and never will.
Economic destruction like you have never even dreamt possible. WGAF. :t
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An issue NOW - is the exposures brought about by Market to Market - re-valuation during a MARKET adjustment to over pricing. Business looking to protect itself from lnvestment fallout is taking down the entire economy in attempts to survive. Mark to Market accounting is the final lnsurance. It is flawed - fatally as a concept. There is no BOTTOM LINE - Devaluation is the repeating ONLY ACCOUNTING option - even for business doing well. IT IS A catch all nightmare!
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mireland
03-03-2009, 08:38 AM
you up for a quick game of WWIII?:t
herosrest
03-03-2009, 09:13 AM
http://tbn0.google.com/images?q=tbn:PdFIzp3gnuJ3HM:http://www.bagpipes.net/ut/UnrealTournamentLogo.jpg (http://www.youtube.com/watch?v=bCxXjoiyjRQ)http://worldwar3.jowood.de/images/frontpic2.jpg (http://worldwar3.jowood.de/)UNREAL TOURNAMENT IS FAR BETTER! SUPREME ;) STILL ROCKING AFTER ALL THESE YEARS AND MORPHED INTO THE BEST ONLINE SHOOTER - EVER....... SKAARj..... yo MommA!
There are times when, even the highest placed, step back, review, 'fess up and take it on the chin!
It goes with the territory. - lf you cannot afford something, you go without or borrow or save.
YOU DO NOT REVALUE THE ITEM OF INTEREST. THAT IS CRAZY
IT IS A MISTAKE, so basic - it beggars belief!
The people at SEC in charge of the ENRON fallout did their work. But.. if you assess Cox's background and training you can begin to see, where he and the accounting rules come from and their form........... they are MICRO practice applied to the MACRO economy - There is a disaster underway. Few non-bankers have heard of FAS 157 and 159, yet these are the regulations that will set the terms on which the banks will value their assets. The trouble with FAS 157 and 159 is that they are perfectly reasonable regulations in themselves which could have disastrous, though unintended, consequences. The disaster of these rules is masked by the Financial problems which were underway BEFORE the rules implemented. The effects of the rules are hidden by the general expectation that there is trouble in economies. It is much worse than it should be and is not realised yet. The damage being done is incredible. The people at the SEC are the exact same who dithered and trusted to human nature in the MADOFF case. WAKE UP IN the NAME of GOD! It isn't personal fault as such, just decent types in the wrong place at the wrong time. Short sighted micro-management of a global problem.
The Rules in place now ensure, without any doubt, continued, accelerating and unstoppable devaluation of Asset Value. Stagflation it is called. It is happening because of the rules. No other reason.
A far looser, broad based approach is required to regulation and controls. The current environment is a rigorous straightjacket with immense unforseen consequence. The unforgivable error that has occured was not throwing the book and bookshelf at those CAUGHT doing wrong. They should be rotting in HELL. A clear and present example. These corrupt people should have been publicly destroyed. There is no better deterrent.
How very, very interesting that you should bring him up.........
Recently, though a whilst back, l felt the urge during a London tube journey to emerge from the press and fume that was a journey to Whitechapel. Normally such journey is bread and funner to me - travellers and commuters and the japanese are such vulneralble fun under confinement in tube trains. l was however rather dumped down and rather than gasket blow, l decamped.........t'was Baker Street. l climbed up top through the struggling mongs lugging and tugging baggage and lo and behold - held a five minute conversation with the mans man. Yup, there he was, Mr Holmes bored and idle, just hanging about outside the station. Couldn't find Gerry Rafferty (http://www.youtube.com/watch?v=EgbGaYTkkPU) anywhere though.
http://mw2.google.com/mw-panoramio/photos/medium/2168149.jpg (http://static.panoramio.com/photos/original/2168149.jpg)http://tbn2.google.com/images?q=tbn:TMe69osIxqG6mM:http://www.barclayweb.com/DESTINAT/unitedki/ENGLAND/undgr.gif (http://rotanahay.wordpress.com/2009/01/25/sherlock-holmes/)
Sir Arthur Conan Doyle based his character Doctor Watson on the LXVI (66th) Berkshire regiments Medical officerSurgeon Major A F Preston who was injured in battle. (At Maiwand, Afghanistan)
http://upload.wikimedia.org/wikipedia/en/thumb/5/5f/MaiwandLion.JPG/800px-MaiwandLion.JPG (http://en.wikipedia.org/wiki/Maiwand_Lion)
http://www.cavhooah.com/images/index.15.jpg (http://en.wikipedia.org/wiki/James_Watson_(soldier))____WATSON____http://www.cavhooah.com/images/index.15.jpg (http://en.wikipedia.org/wiki/Peter_Thompson_(soldier))
mireland
03-09-2009, 02:42 PM
good god man..give it up already...
herosrest
03-09-2009, 02:58 PM
Wil' ne. They think - so do eye. The minds eye.............
Following on from my Baker St. interlude , Whitechapel has quite some history that would have tried even Holmes. THE RIPPER TALES.......... http://www.timesonline.co.uk/multimedia/archive/00260/Jack_the_Ripper_260058d.jpg (http://www.timesonline.co.uk/tol/system/topicRoot/The_Jack_the_Ripper_murders/)
Did ya see the Ripper Trilogy what w0s on recently ?
herosrest
03-09-2009, 05:47 PM
Oddly............. l don't watch tv anymore. Haven't for years. It's so oldie worldie.
j.m@talk
03-09-2009, 05:53 PM
Twas quite a good thingumi ....... Can send yas a DVD of it if yas wants :t
herosrest
03-09-2009, 06:05 PM
S'ok.........was if factual or drams. Some of the drama productions have been ok.
It was a yank to all intents and purposes is the latest thinking i believe.
The fascinating thing i found, yes i did web around with it years ago but it might be more fun now with so much more data webified, the thing l spotted and never heard commented is the overview on a map. Weird thing, and bamo, i type it up on Wikipedia and there it is........ it looks as though one killing went unreported or was not made. It is an arrow point. Very, very, very weird. Rather precise, just like the murderers work. Still it's me who's odd, right. Can't imagine no-one has ever spotted that before. They must have.
l ploted it years back on an old london street map. Weird, eh!
Yeah ........... I recon' they should hang draw & 25% ya fer that :D
herosrest
03-09-2009, 07:01 PM
Leadenhall Street Baptist Church is a historic Baptist church located at Baltimore, Maryland, United States.
St Katharine Cree C Of E Church - 86 Leadenhall Street London EC3A 3DH
It is possible the nut job killer had religious issues besides a problem with ladies and his sexuality and abilities. Prolly a serious racist also. Who knows, we're hardly going to hang him now, even he was caught. I'm pretty sure there is a Church connection of one sort of other. Imagine, right in't middle of modern day Do$h Land. Gherkin is just up the way. Baltimore, Maryland several thousand miles west. :confused:
j.m@talk
03-09-2009, 07:02 PM
Send some Bow St Runners His way ......... :t
herosrest
03-09-2009, 07:03 PM
It's gone, it ain't no more. T'was shut down recently.. progress... The magistrate's that is.
Peelers maybe but they all play bass these days and do grunge.
j.m@talk
03-09-2009, 07:09 PM
Thats Faxed it up ......... Umm ........
Perhaps Stephenson can put a "Rocket" under im' ? :D
He's from up my way ........ Bound to be a complete PITA ....... Yas welcome to im'
herosrest
03-09-2009, 07:16 PM
That'd be your jurisdiction. Stockton to Darlington.
Too far east fer me ............. The North east is sod all like the south east, ya can trust me on that one :t
werz
03-10-2009, 04:05 AM
Gawd wot an eyesore. Should be the pickle, not the gherkin.
herosrest
03-10-2009, 09:35 AM
:D Make a fist!. http://upload.wikimedia.org/wikipedia/en/thumb/8/8e/30_St_Mary_Axe%2C_'Gherkin'.JPG/350px-30_St_Mary_Axe%2C_'Gherkin'.JPG
herosrest
03-10-2009, 09:55 AM
What happened was a very logical and clever extension of the original Bank of England 'Double your Money' concept into a revolving door of current account Financing that works perfectly well - in conservative fashion - honouring the underlying basis of TRUST. It is called LEVERAGING. The process was hijacked and corrupted by, of all people Insurers who saw vast potential to profit under lax regulation. They actively went at it as a soluble problem and here we are today. They are filthy stinking rich and we are being kept under shelter of a huge mushroom whilst more and more of the brown stuff is shoveled
The Leverage sucks as in Hoovers cash out of the current account. You may have noticed - everyone is broke and worried about income!
Cheap finance was the goal - the opposite has been inflicted!
.
herosrest
03-10-2009, 10:12 AM
lnflation is not being measured properly. lt is such a chore, isn't it.
lt is growing, world wide. Nothing else but increasing prices can happen.
When it takes off, which it wil,l you have - GAME OVER!
herosrest
03-11-2009, 12:52 PM
BURLINGAME, CALIF. -
Late Tuesday, in response to questions from Forbes.com, an Apple spokesman said Apple has agreed to buy a boutique microprocessor design company called P.A. Semi. The company, which is known for its design of sophisticated, low-power chips, could spell a new future for Apple's flagship iPhone, and possibly iPod products as well. The 150-person chip company, P.A. Semi, was founded in 2003 by Dan Dobberpuhl, who was a lead designer for the well-regarded Alpha and StrongARM microprocessors developed by Digital Equipment in the 1990s. "Apple buys smaller technology companies from time to time, and we generally do not comment on our purposes and plans," said Apple (nasdaq: AAPL - news - people ) spokesman Steve Dowling. He declined to comment on the value of the deal, which a person familiar with the deal suggested was done for $278 million in cash. Apple is due to announce its quarterly earnings Wednesday. The decision to center the iPhone design around a chip that Apple could own marks a significant strategic choice by Apple Chief Executive Steve Jobs, and is aimed at ensuring Apple can continue to differentiate its flagship phone as a raft of competitors flood the market. According to a source affiliated with the chip company, Jobs and Senior Vice President Tony Fadell led the tiny group of executives who spearheaded the acquisition, which included negotiations that took place in Jobs' home. Apple's choice is a blow for chip maker Intel, which has been trying to convince Cupertino, Calif.-based Apple to rely on Intel's chips--particularly its latest low-power line up, called Atom.
Apple has been rightfully proud of the iPhone, and has predicted that it will sell 10 million of the devices by the end of 2008. But that success has had a cost, too: Virtually every mobile-phone maker is scrambling to develop an iPhone-like device. Jobs has long asserted that Apple's greatest strengths lay in its software and in its ability to integrate hardware and software. The result: Machines that combine appealing design with an intuitive user interface, such as the iPhone. But interfaces--as Jobs well knows--can be mirrored, if not copied.
Few in the high-tech world are as wary as Jobs of turning control of core components over to a partner. The PC industry has been his proving ground; over the past three decades, he has watched numerous PC makers that have built their products around Intel's microprocessors wind up in fierce battles for narrower and narrower profit margins. Led by Intel Chief Executive Paul Otellini, Intel is developing a line of chips that it believes can become as central to handheld computing devices as its "x86" chips have been to the personal computer industry. Intel has said it aims to create somewhat different lines of Atom processors tailored to different classes of applications, such as consumer devices, low-cost notebook computers and set-top boxes. The first of these designs is slated to begin shipping by the middle of this year; another by year's end. But that doesn't mean Intel wants to create a unique chip for every customer--even for a charismatic customer like Apple. Apple first got to know the designers at P.A. Semi about three years ago, when the computer maker still used PowerPC chips in its Macintosh computers. Dobberpuhl and his team, which includes engineers who had a hand in designing powerful chips, including Intel's Itanium, Advanced Micro Devices' (nyse: AMD - news - people ) Operton and Sun Microsystems' (nasdaq: JAVA - news - people ) UltraSparc. Dobberpuhl was also the lead designer on a DEC chip project called StrongARM, which was ultimately folded into Intel after DEC collapsed. Intel tried to use the design as the basis of chips for the smart-phone industry, but eventually sold that group to Marvell.
Dobberpuhl wanted to design an enormously powerful chip, based on the PowerPC architecture, that used little power. When Apple decided to quit using the PowerPC chip in favor of Intel microprocessors, the conversations with P.A. Semi petered out. In February 2007, P.A. Semi debuted a 64-bit dual core microprocessor which the company asserted was 300% more efficient than any comparable chips. It consumes only 5 to 13 watts running at 2 gigahertz. Telecommunications, networking and wireless companies embraced P.A. Semi's work. Meanwhile, Apple found a collection of other chip partners to build the guts of its iPhone. One key: According to technology market research firm iSuppli, South Korean electronics giant Samsung supplies the iPhone's applications processor. Like a number of companies cranking out processors for mobile phones, such as Texas Instruments, Samsung's processor is based on a design licensed from Cambridge, U.K.-based ARM. Apple was among the three companies, also including Acorn Computers and VLSI Technology, that formed ARM in 1990. Texas Instruments, Qualcomm and Broadcom are also fighting for share in the low-power applications processors for smart phones and mobile gizmos based on ARM designs, according to iSuppli analyst Tina Teng, with Texas Instruments leading the pack. These companies are building increasingly sophisticated processors, however, targeted at bigger and more powerful devices. "Companies like Qualcomm are trying to diversify themselves and move away from being a pure wireless company into these ultra mobile PCs, or ultra mobile Internet devices," Teng says. Trevor Yancey, vice president of technology at IC Insights of Scottsdale, Ariz., sees ARM-based designs giving Intel a tough fight as Intel tries to push beyond notebooks and into smaller and smaller devices. "That's going to be a tough battle. If you look at the ARM core--where it has been and where it has come from--the ARM core is very well entrenched in those kinds of applications," Yancey said. "I think the gap between the two is certainly closing, but ARM is still developing at a fast pace."
Although no current Apple products use P.A. Semi chips, Apple executives kept a close eye on the work of the start-up. Talks of acquiring P.A. Semi began only in the past few weeks. Employees have been notified of the deal.It will likely take at least a year before products incorporating P.A. Semi designs are ready. The company's flagship chip is at the heart of heavy-duty computing systems, such as those sold by NEC's (nasdaq: NIPNY - news - people ) storage division. But the design philosophy--hefty processing power and frugal power use--are in concert with Apple's directions. Although Apple plans to continue supporting P.A. Semi's current customers, insiders suggest that Jobs plans to use future P.A. Semi chips exclusively within Apple products. At that point, executives believe the company will have created a unique asset--a powerful microprocessor that sips power lightly and so can support just about any imaginable applications Apple's software gurus can imagine.
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