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Negocios

Raymi@LitBlogs

Me parece que este pibe se enamoró de Raymi, chequen su “review” de raymitheminx.com: LitBlogs blogs Raymi.

Categories
Negocios

argentina@economist

Screeching to the precipice
Feb 24th 2005
From The Economist Global Agenda
Argentina appears to have persuaded most of its bondholders to accept a deeply discounted debt-restructuring offer. But the country’s financing problems will continue unless it can coax back capital stashed abroad by its citizens

Kirchner refuses to blink

WHEN Argentina started restructuring its $81 billion-plus-interest in defaulted debt last month, it was billed as the biggest game of chicken in financial history: the government vowed not to improve its offer, worth broadly 30 cents on the dollar, and bondholders promised never to accept it. Now it seems that despite their threats of lawsuits, asset seizures and collective rejection of the Argentine ultimatum, the creditors swerved practically before they got into the car.

Most analysts were predicting that at best 70% of bondholders would accept the offer, which closes on Friday February 25th. By the day before, about half the outstanding debt had been exchanged, retail investors were queuing to hand over more and some big institutional investors planned to follow suit on the last day. Most now reckon that at least 80% of creditors will participate. That looks high enough to persuade the International Monetary Fund (IMF) to bless the deal and also to trigger “exit consent” clauses in the bonds that could make them virtually illiquid for those who choose not to take part.

The success of the government’s negotiating strategy—which was not to negotiate at all but to offer a take-it-or-leave-it package instead—is a political triumph for Argentina’s president, Néstor Kirchner. As his Peronist party heads into legislative elections in the autumn, he can claim that he faced down the foreigners and won.

The foreigners have been chasing their claims since Argentina’s government stopped servicing its debt more than three years ago, on December 23rd 2001. It was the biggest sovereign default in history. Despite liberal help from the IMF, the government could not meet the punishing yields exacted by skittish investors or balance its books in the midst of a protracted recession. It devalued the peso, then decoupled it altogether from the dollar, dismantling the “convertibility system” that had killed hyperinflation a decade before. At its worst, the peso lost three-quarters of its value, wreaking havoc on the finances of banks, companies and households, which could no longer meet their dollar liabilities. But hyperinflation did not return, and after the economic meltdown of 2002, Argentina’s newly competitive exchange rate helped it grow once again.

Standard & Poor’s, a rating agency, has said that after the restructuring it will rate Argentina a B-minus debtor, a status that Ecuador did not attain for five years after its default. Foreigners will probably not want to lend to the Argentine government directly for a while after taking a 70% loss—twice the average haircut in recent sovereign defaults—and the government will still be left with a public debt equal to 80% or more of GDP. But the country’s new credit rating should increase access to capital for its best-behaved companies. Other immediate benefits include a smaller chance that lawsuits against the government will succeed and a better relationship with the IMF. The Fund might allow Argentina more time to repay the $14 billion it owes the IMF and soften the conditions that govern it.

Most important, greater confidence in Argentina (and its soaring equity markets) may bring home some of the $150 billion or so its citizens hold abroad. The return of flight capital is a practical necessity for the country to keep growing. Its galloping GDP growth, 8.8% in both 2003 and 2004, owes a lot to high soyabean prices and the use of capacity left idle by the economic collapse in 2001-02. Commodity prices have already declined from their peaks and capacity constraints are likely to be felt again this year, so fresh capital will be needed. Mr Kirchner has hardly wooed external direct investors: his government is yet to lift the freeze imposed during the crisis on rates charged by most foreign-owned utility firms. This has exacerbated worries that contracts in Argentina are not worth the paper they are printed on.

The president seems to be betting that a successful restructuring will increase domestic investment from its current level of 17% of GDP to more than 20%, enough to sustain impressive growth throughout the economic cycle. Only time will tell if the Argentines cheering his “patriotic” intransigence towards the international financial community are willing and able to shoulder the burden themselves.

Categories
Negocios

Punta 05

Finalmente le pungié a Bryx las fotos de Punta, 2005.

¡Chequenlo!

Categories
Negocios

MILLION DOLLAR BABY

Acabo de terminar de ver Million Dollar Baby, la última película dirigida y protagonizada por Clint Eastwood. Me atrevo a decir que es mejor que Mystic River, es más poderosa, más cercana y la mejor demostración de dirección que he visto en todo el año.

No están aún los candidatos para el Oscar, pero me parece que el ganador es cantado.

The New York Times > Movies >Movie Review: MILLION DOLLAR BABY:

When a man grows old his joy
Grows more deep day after day,
His empty heart is full at length
But he has need of all that strength
Because of the increasing Night
That opens her mystery and fright.

Categories
Negocios

no se fuma más en mi dpto

Seis mil no fumadores mueren por el humo de los otros

Así lo informó el ministro de Salud, Ginés González García. Dijo que el Gobierno buscará “ampliar” los espacios libres de tabaco

El ministro de Salud de la Nación, Ginés González García, sostuvo hoy que es necesario un “cambio en la conciencia colectiva”, para “ir ampliando los espacios libres de humo”, al proseguir hoy su cruzada contra el cigarrillo.

González García, el integrante más antiguo del gabinete después del derrumbe del gobierno de Fernando de la Rúa y que impulsó proyectos de ley para que se prohiba fumar en espacios públicos cerrados, señaló que “la política del Estado Moderno debe ser ayudar a modelar la conducta pública saludable”.

“Hay 202 empresas libres de humo que lo cumplen a rajatabla, y lo cumplen con el consenso de los empleados”, y agregó: “Ya tenemos municipios libres de humo, y hay que trabajar en los hogares”.

El ministro de Salud especificó que existen “6 mil muertes” de aquellos personas que no fuman, y justificó, “creo que son causas muy suficientes para cambiar esta conducta colectiva, por eso hay difundir este tipo de cosas”.

Asimismo, atacó a las tabacaleras ya que la publicidad de cigarrillos se está “burlando” con los mensajes que transmiten, por eso el proyecto de ley contra el tabaco incluye la restricción de este tipo de promoción.

En tanto, González García opinó que “más allá de la ley, que siempre está, se necesita un cambio de conciencia colectiva”, y concluyó, “no hay por qué pensar que los argentinos no podemos cuidarnos”.

Categories
Negocios

torrent on!

Como sabrán, mataron muchos sitios de Torrents, como por ejemplo Suprnova.org. Sin embargo siguen online los trackers y algunos mirrors, por ejemplo Bi-torrent.

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Negocios

Shaq issues warning to Kobe

link

“MIAMI — Shaquille O’Neal has some advice for former teammate Kobe Bryant when the rivals play against each other for the first time — stay out of the lane.

‘If you’ve got a Corvette that runs into a brick wall, you know what’s gonna happen,’ he said in a halftime interview on ABC’s ‘Monday Night Football.’ ‘He’s a Corvette. I’m a brick wall. So you know what’s gonna happen.'”

Categories
Negocios

Un estudio médico revela por qué los árbitros se equivocan al cobrar offside

“El ojo y el cerebro no son capaces de procesar toda la información visual necesaria para aplicar correctamente el ofside (fuera de juego) en el fútbol”, según un estudio español recién difundido que podría dar una explicación científica a muchas decisiones arbitrales polémicas. La investigación fue encabezada por el médico del Centro Salud de Alquerías (Murcia), Francisco Belda Maruenda, quien junto a otros 126 científicos reclamó que la Federación Internacional de Fútbol (FIFA) modifique la regla XI sobre la falta conocida como “posición adelantada”.

Los especialistas sostienen en su estudio, publicado por el British Medical -una de las revistas médicas más prestigiosas del mundo-, que es “es humanamente imposible” para un árbitro o juez de línea apreciar esa irregularidad.

Según la investigación, el árbitro debe mirar al mismo tiempo al jugador que tiene la pelota para comprobar cuándo hará el pase, a su compañero más adelantado y al último defensor: esto implica que debe mantener en su campo visual varios “objetos” en movimiento al mismo tiempo. El proceso requeriría por lo menos dos movimientos “sacádicos”, es decir, los que realiza el ojo para registrar cada uno de los objetos en su campo de observación.

Según los investigadores, se cometen errores en la aplicación de esta norma porque el árbitro tiene que cambiar de objeto de visión en corto espacio de tiempo, algo para lo que no está capacitado fisiológicamente.

Belda sostuvo hoy en una conferencia de prensa que “son necesarios medios técnicos como la observación de la grabación congelada de la imagen de televisión para apreciar el fuera de juego con exactitud”.
¿Se erradica?

Entre las muchas variantes reglamentarias que se analizan de cara al futuro, varios de los dirigentes de la FIFA ven con buenos ojos que la posición adelantada deje de ser sancionada. Creen, con razón, que así el fútbol podría ser mucho más ofensivo y los partidos terminarían con mayor cantidad de goles. A la vez están los puristas que, en nombre de la nostalgia, dicen que su anulación modificaría la esencia del juego.

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Negocios

NBA All-Star Balloting 2005

Voten a Manu!

Está quinto entre escoltas de la conferencia Oeste. Estas son las posiciones actuales, con los votos para cada uno:

Tracy McGrady (Hou.) 680,373
Kobe Bryant (LAL) 673,665
Steve Nash (Pho.) 330,577
Ray Allen (Sea.) 305,147
Emanuel Ginobili (S.A.) 182,532
Mike Bibby (Sac.) 124,361
Michael Finley (Dal.) 93,847
Tony Parker (S.A.) 89,069
Jason Terry (Dal.) 65,360
Latrell Sprewell (Min.) 50,277

Categories
Negocios

raymi the minx

che boludo, raymi está muy mal, miren este post: cops&queers: “so bloody strong”

Categories
Negocios

Oracle > PeopleSoft

Oracle Signs Definitive Merger Pact
To Buy PeopleSoft for $10.3 Billion

WALL STREET JOURNAL ONLINE NEWS ROUNDUP
December 13, 2004 7:25 a.m.

REDWOOD SHORES, Calif. — After more than a year of legal wrangling, PeopleSoft Inc. agreed to be acquired by Oracle Corp. for $26.50 a share, or about $10.3 billion.

The agreement, which comes 18 months after Oracle launched its hostile-takeover bid for Pleasanton-based PeopleSoft, represents a $2.50 boost in Oracle’s last offering price. The deal has the approval of the boards of both companies and should close by early January.

SOFTWARE FIGHT
See complete coverage of Oracle’s pursuit of PeopleSoft

Oracle agreed to revise its $24-a-share offer by Wednesday, Dec. 15, and the tender will remain open through Dec. 28, unless extended.

The agreement announced by both companies Monday halts all pending litigation.

“This merger gives Oracle even more scale and momentum,” said Oracle Chief Executive Larry Ellison. “The real highlight of our most recent quarter was the 57% growth in our applications business, and this merger is going to make that applications business bigger and stronger.”

“After careful consideration, we believe this revised offer provides good value for PeopleSoft stockholders and represents a substantial increase in value from October,” said A. George “Skip” Battle, Chairman of PeopleSoft’s Transaction Committee. “This has been a long, emotional struggle, and our employees have consistently performed well under the most challenging of circumstances.”

Mr. Ellison said, “This merger works because we will have more customers, which increases our ability to invest more in applications development and support.”

Oracle’s last bid had been for $9.2 billion, or $24 a share. PeopleSoft shares closed Friday at $23.95 on the Nasdaq Stock Market.