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Old 2012-12-04, 16:56   Link #24961
willx
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Join Date: Feb 2006
Age: 31
Continued drama in Toronto over "Trump Towers" - More Trump Tower buyers taking developers to court

http://metronews.ca/news/toronto/464...pers-to-court/

“The hotel is magnificent. The good reviews the hotel is getting are very well deserved,” says Herbert Crockett, 75, of Switzerland, who just spent nine days in the 23rd floor Trump unit he bought in 2005. He says he’s filing a lawsuit this week.

“The whole thing from that point of view is a tragedy. In 2005, this looked like a great investment. Now it looks dreadful.”

Crockett says he’s been shocked to find he can’t get a mortgage for more than 65 per cent, about $475,000, of the unit he paid [agreed to pay] $902,000 for seven years ago. The retired director of human resources for the World Health Organization says the unit was recently appraised for the TD Bank at just $730,000 and is costing about $7,000 a month to keep because rooms aren’t being rented out frequently enough, or at the $600 per night rate originally projected by Talon.

“Right now it’s like the fiscal cliff,” Crockett said in a telephone interview.

The Trump Organization, which simply manages the hotel for Talon, has said the Toronto project is getting rave reviews from guests and blamed the buyer revolt on “buyers’ remorse.”

--Note: The rooms were marketed to be rented out at $600 per night with 90% occupancy. There have been allegations that financial projections were provided with the marketing that has proven to be devastatingly untrue. The marketing was allowed via a securities law exemption conditional on no financial projections being provided.

--Note2: The securities commission, OSC, has concluded its investigation and is not taking any further action, letting this play out in the legal courts.

Outlook is dismal
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Old 2012-12-04, 17:02   Link #24962
Xellos-_^
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Quote:
Originally Posted by willx View Post
Continued drama in Toronto over "Trump Towers" - More Trump Tower buyers taking developers to court

http://metronews.ca/news/toronto/464...pers-to-court/

“The hotel is magnificent. The good reviews the hotel is getting are very well deserved,” says Herbert Crockett, 75, of Switzerland, who just spent nine days in the 23rd floor Trump unit he bought in 2005. He says he’s filing a lawsuit this week.

“The whole thing from that point of view is a tragedy. In 2005, this looked like a great investment. Now it looks dreadful.”

Crockett says he’s been shocked to find he can’t get a mortgage for more than 65 per cent, about $475,000, of the unit he paid [agreed to pay] $902,000 for seven years ago. The retired director of human resources for the World Health Organization says the unit was recently appraised for the TD Bank at just $730,000 and is costing about $7,000 a month to keep because rooms aren’t being rented out frequently enough, or at the $600 per night rate originally projected by Talon.

“Right now it’s like the fiscal cliff,” Crockett said in a telephone interview.

The Trump Organization, which simply manages the hotel for Talon, has said the Toronto project is getting rave reviews from guests and blamed the buyer revolt on “buyers’ remorse.”

--Note: The rooms were marketed to be rented out at $600 per night with 90% occupancy. There have been allegations that financial projections were provided with the marketing that has proven to be devastatingly untrue. The marketing was allowed via a securities law exemption conditional on no financial projections being provided.

--Note2: The securities commission, OSC, has concluded its investigation and is not taking any further action, letting this play out in the legal courts.

Outlook is dismal
as much as i sympathize with some of the investor.

When will people learn there is no free lunch. Anyone promising a rate of 29% should be pitch over a cliff.
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Old 2012-12-04, 20:33   Link #24963
SaintessHeart
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Quote:
Originally Posted by Xellos-_^ View Post
as much as i sympathize with some of the investor.

When will people learn there is no free lunch. Anyone promising a rate of 29% should be pitch over a cliff.
In this kind of market I would say 29% is still overdone. I would give only 15%.
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2012-12-04, 21:40   Link #24964
mangamuscle
formerly ogon bat
 
 
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On related news, A Brain-Based Explanation For Why Old People Get Scammed. So old money (65+ years) can also become easy money for some.
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Old 2012-12-05, 02:49   Link #24965
SeijiSensei
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How a Ferrari Altered the Chinese Leadership Succession

Quote:
The ploy was one of many in a tangled effort to suppress news of the Ferrari crash that killed [the son of a key aide to China's President Hu Gintao], Ling Gu and critically injured two young female passengers, one of whom later died. The outlines of the affair surfaced months ago, but it is now becoming clearer that the crash and the botched cover-up had more momentous consequences, altering the course of the Chinese Communist Party’s once-in-a-decade leadership succession last month.
Perhaps Mr. Ling was attempting to resolve one of China's more thorny internal problems by his choice of escorts -- they were Tibetan.
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Old 2012-12-05, 07:25   Link #24966
Ascaloth
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Huh. What is it with mainland Chinese and Ferraris?
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Old 2012-12-05, 07:31   Link #24967
SaintessHeart
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Quote:
Originally Posted by Ascaloth View Post
Huh. What is it with mainland Chinese and Ferraris?
It is a symbol of wealth. Seems to be the same with every Chinese with the world - cars like Porsche and Ferrari are prestige items to be owned.

And they are fantastic drives too - smooth pickup, no jerks when running above 100 and beautiful skins.

Then there is also colour schemes depicting personality types; mainly what they see themselves to be - black symbolises authoritative, red symbolises hard and fast, white and silver symbolises connections. Silver tends to tilt more towards family connections, while white tend to be government/clean people.
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2012-12-05, 07:51   Link #24968
Ascaloth
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Quote:
Originally Posted by SaintessHeart View Post
It is a symbol of wealth. Seems to be the same with every Chinese with the world - cars like Porsche and Ferrari are prestige items to be owned.

And they are fantastic drives too - smooth pickup, no jerks when running above 100 and beautiful skins.

Then there is also colour schemes depicting personality types; mainly what they see themselves to be - black symbolises authoritative, red symbolises hard and fast, white and silver symbolises connections. Silver tends to tilt more towards family connections, while white tend to be government/clean people.
... You would be the last person I expected to miss the point entirely. Ferrari crash, killed the driver, remind you of anything? >_>
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Old 2012-12-05, 07:55   Link #24969
ganbaru
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Join Date: Dec 2007
Location: Betweem wisdom and insanity
How foreign firms tried to sell spy gear to Iran
http://www.reuters.com/article/2012/...8B409820121205

Documents detail how MTN funneled U.S. technology to Iran
http://www.reuters.com/article/2012/...87T05R20120830
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Old 2012-12-05, 08:43   Link #24970
sa547
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Quote:
Originally Posted by ganbaru View Post
How foreign firms tried to sell spy gear to Iran
http://www.reuters.com/article/2012/...8B409820121205

Documents detail how MTN funneled U.S. technology to Iran
http://www.reuters.com/article/2012/...87T05R20120830
This is why Ahmadinejad always look cocky all the time, as if he wants to take on the world.
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Old 2012-12-05, 08:44   Link #24971
SaintessHeart
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Quote:
Originally Posted by Ascaloth View Post
... You would be the last person I expected to miss the point entirely. Ferrari crash, killed the driver, remind you of anything? >_>
I know that lol. He isn't the only China Ferrari driver I have heard of; a couple which I briefly got acquainted with are certainly cocky bastards trying to outcock each other. Utter bullshit - thank goodness for the presence of alcohol to make them look less silly.

Quote:
Originally Posted by ganbaru View Post
How foreign firms tried to sell spy gear to Iran
http://www.reuters.com/article/2012/...8B409820121205

Documents detail how MTN funneled U.S. technology to Iran
http://www.reuters.com/article/2012/...87T05R20120830
I think the journalists need to attend a briefing course on computer networking. Since when did standard networking equipment and monitoring techniques become "spy gear" and "U.S technology"?
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2012-12-05, 09:36   Link #24972
Cosmic Eagle
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Quote:
Originally Posted by SaintessHeart View Post
I know that lol. He isn't the only China Ferrari driver I have heard of; a couple which I briefly got acquainted with are certainly cocky bastards trying to outcock each other. Utter bullshit - thank goodness for the presence of alcohol to make them look less silly.
They are trying to win Darwin awards....
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Old 2012-12-05, 09:55   Link #24973
SaintessHeart
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Quote:
Originally Posted by Cosmic Eagle View Post
They are trying to win Darwin awards....
Aren't most affluent people, or rather, huge spenders awashed with high incomes trying to do so?

I theorise that there is a psychology behind this. These aggresive rags-to-riches people are like those who hooked up a habit and went downhill because of the things they never had before. Their high incomes simply push them to work harder so they can buy more things they never had experience having when they are young - their lives have revolved around money so much that they are entangled with it and couldn't let go.

There are feel good factors attached to owning something; I am sure most of you here who bought figurines would understand - it is actively AND consciously known that by yourself that it may just be another piece of plastic, but it feels good to own it and have it.

Being critical about the items you own can be a huge countermeasure against that kind of spendthrift behaviour, as well as some conservative habit towards money management. Otherwise, the aggresive behaviour of ownership will turn a "I want" to a "I must have" mentality.
__________________

When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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Old 2012-12-05, 10:18   Link #24974
konart
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Serbia's NATO Envoy Commits Suicide
http://www.rferl.org/content/article/24789874.html
Quote:
Serbia's ambassador to NATO has committed suicide by leaping from a parking garage at Brussels airport.

Serbian Prime Minister Ivica Dacic confirmed Branislav Milinkovic's suicide, calling it "a very tragic event."

He said it was not clear why Milinkovic took his life.
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Old 2012-12-05, 11:31   Link #24975
willx
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Join Date: Feb 2006
Age: 31
Freeport-McMoRan makes massive $9BN bet on natural gas

Investors quickly panned the deal for Freeport-McMoRan Copper & Gold, sending shares of the company down $5.23, or 13.7 percent, to $33.05 in morning trading. But shares of the the two companies being bought soared. Shares of Plains Exploration rose $8.85, or 24.6 percent, to $44.90 and shares of McMoRan Exploration Co. rose $7.02, or 83 percent, to $15.48.

http://fuelfix.com/blog/2012/12/05/f...on-in-9b-deal/

Reply hazy, ask again later
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Old 2012-12-05, 15:45   Link #24976
Jinto
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Join Date: Feb 2004
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Age: 33
Quote:
Originally Posted by SaintessHeart View Post
...
I think the journalists need to attend a briefing course on computer networking. Since when did standard networking equipment and monitoring techniques become "spy gear" and "U.S technology"?
I can answer you that. When you develop... lets say a Loli-bot using more than 20% of U.S.-origin components (aka U.S. technology). Then your product is automatically embargo relevant (or basically U.S. technology).
But how are those 20% measured anyway... you might ask. Well in most cases according to their price. All components of the final product cost something. If the price of the U.S. originated components is more then 20% of the overall price => embargo-product (aka U.S. technology). And you don't want to see your Loli-bot on the embargo lists because it would mean that most dictators are not allowed to buy one and you are not allowed to sell them to these people.
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Old 2012-12-05, 16:00   Link #24977
mangamuscle
formerly ogon bat
 
 
Join Date: May 2011
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Quote:
Originally Posted by Jinto View Post
... more than 20% of U.S.-origin components (aka U.S. technology).
Last time I checked most electronic components were done in Asia or Mexico, so getting up to 20% nowadays might be nigh impossible.
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Old 2012-12-05, 17:30   Link #24978
Jinto
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Quote:
Originally Posted by ogon_bat View Post
Last time I checked most electronic components were done in Asia or Mexico, so getting up to 20% nowadays might be nigh impossible.
Interestingly the place of production does not count. If the component is developed by a U.S. company it counts as a U.S.-origin component.
Btw. even licensing fees that have to be paid to use patents hold by U.S. companies count as U.S. technology.
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Old 2012-12-05, 18:35   Link #24979
RRW
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Corruption perceptions index 2012


Quote:

Looking at the Corruption Perceptions Index 2012, it's clear that corruption is a major threat facing humanity. Corruption destroys lives and communities, and undermines countries and institutions. It generates popular anger that threatens to further destabilise societies and exacerbate violent conflicts.

The Corruption Perceptions Index scores countries on a scale from 0 (highly corrupt) to 100 (very clean). While no country has a perfect score, two-thirds of countries score below 50, indicating a serious corruption problem.
http://www.transparency.org/cpi2012/results/
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Old 2012-12-05, 18:53   Link #24980
Ithekro
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Finland gets points I suppose.

Interestingly in Iron Sky (a Finnish production) Finland is the only country that didn't arm their spacecraft against the terms of the UN Space Treaty.
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