plus 4, Recent Comments by just.a.guy - The Business Insider |
- Recent Comments by just.a.guy - The Business Insider
- B of I Files Universal Shelf Registration - Stockhouse
- TD Bank Financial Group CFO to Present at Goldman Sachs Conference - Stockhouse
- Fed forecasts long jobs drought - San Francisco Chronicle
- LG Electronics Canada introduces customized digital signage solutions ... - Hotel Interactive Network
| Recent Comments by just.a.guy - The Business Insider Posted: 25 Nov 2009 08:40 AM PST For others who are interested, I believe the work John refers to which refutes the endowment effect -- which demonstrates situations where the actors are well-versed in the nature of the objects being exchanged -- is covered in economist Tim Harford's excellent book _The Logic of Life_. That said, the headline of this article is creatively written to draw a reader into an argument that is orders of magnitude weaker than you advertise it, John.
From a "Prized Discovery... Terribly Wrong" to So... the fundamental premise is wrong (endowment effect doesn't exist)... to even chimps exhibit it (so it clearly exists)... to an unsubstantiated assertion that some other unmeasured effect explains it... to ok so maybe it really exists after all even in controlled environments... to ok so it exists but is rational due to my earlier unsubstantiated claim. It'd probably be more constructive to actually propose how you might measure the assumptions of counter-party risk. By the way, in many of the examples you cite, those risks are insured away (via home inspections and title insurance in home purchases), via full collateralization of certain types of trades (not enough, though, clearly!) and so on. I'd be amazed if you could find an actual risk level in the real world in a functional economy that was large enough to explain a level of risk discounting that could explain the huge swings in preferences that the behavioral economists explain as an endowment effect... but you're right that it's worth looking for! This content has passed through fivefilters.org. |
| B of I Files Universal Shelf Registration - Stockhouse Posted: 25 Nov 2009 08:47 AM PST SAN DIEGO, CA, Nov 25, 2009 (MARKETWIRE via COMTEX News Network) -- BofI Holding, Inc. (B of I or the Company) (NASDAQ: BOFI), parent of Bank of Internet USA (Bank), has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission. When declared effective by the SEC, the shelf registration statement will allow the Company to raise capital from time to time, up to an aggregate of $125.0 million, through the sale of debt securities, common and preferred stock and warrants. Terms and prices, as well as use of proceeds, will be determined at the time of each offering and will be disclosed in a separate prospectus supplement to be filed with the SEC at the time of the offering. "Although the Bank has no definitive plans to raise capital at this time, we continue to see extraordinary opportunity to deploy capital. Raising capital from time-to-time to support purchases and originations of high credit quality assets and to facilitate potential acquisitions will provide our Bank with the ability to profit from market opportunities and realize the economies of scale inherent in our business," said Greg Garrabrants, President and Chief Executive Officer. "Once approved, the shelf registration will provide B of I the flexibility to issue debt or equity for up to three years, the amount of which is subject to securities law limits." Mr. Garrabrants added, "If issued today, given our decision to file an S-3, our maximum issuance of common equity would be limited to approximately $15.0 million. However, as the market capitalization of our common stock increases, we expect our maximum issuance limit to increase. We will continue to be sensitive to how we invest and deploy our capital with a focus on continued earnings growth as measured on a per share basis in order to provide strong returns for our common shareholders. I look forward to discussing both our business opportunities and our thoughts on what type of opportunities would entice us to raise capital on our fiscal second quarter conference call." The registration statement on Form S-3 filed with the SEC has not yet become effective. Securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of the securities under the securities laws of that state or jurisdiction. Any offer of securities covered by the registration statement will be made solely by means of a prospectus included in the registration statement and a prospectus supplement with respect to such offering. About BofI Holding, Inc. and Bank of Internet USA BofI Holding, Inc. is the holding company of Bank of Internet USA and trades on NASDAQ under the symbol BOFI. Bank of Internet USA is a consumer focused, FDIC insured, nationwide savings bank operating primarily over the Internet. It offers a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single-family mortgage loans. Bank of Internet USA offers products through its websites at bankofinternet.com and ApartmentBank.com. Retail deposit products include certificates of deposit, online checking accounts with check images, bill payment, high interest savings accounts, ATM or Visa Check Cards, money market savings accounts, and ATM fee reimbursement anywhere in the world. The preceding release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "estimate," "expect," "intend," "anticipate" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements. Contact: BofI Holding, Inc. Gregory Garrabrants CEO 858/350-6203 Email Contact SOURCE: BofI Holding, Inc. http://www2.marketwire.com/mw/emailprcntct?id=FDD5157339C53485 Copyright 2009 Marketwire, Inc., All rights reserved.This content has passed through fivefilters.org. |
| TD Bank Financial Group CFO to Present at Goldman Sachs Conference - Stockhouse Posted: 25 Nov 2009 08:11 AM PST TORONTO, Nov. 25, 2009 (Canada NewsWire via COMTEX News Network) -- Colleen Johnston, Group Head, Finance and Chief Financial Officer, TD Bank Financial Group (TDBFG), will present at the Goldman Sachs US Financial Services Conference in New York on December 9, 2009. Ms. Johnston's presentation, a strategic overview of TDBFG, will begin at 11:35 a.m. ET. A live audio webcast will be available on the Investor Relations section of TDBFG's website at www.td.com/investor. The webcast will be archived at www.td.com/investor/calendar_arch.jsp. About TD Bank Financial Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in North America by branches and serves approximately 17 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading online financial services firms, with more than 5.5 million online customers. TD Bank Financial Group had CDN$545 billion in assets on July 31, 2009. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges. SOURCE: TD Bank Financial Group SOURCE: COMMERCE BANCORP INC. Samson Yuen, Media Relations, TDBFG, (416) 308-8905; Tim Thompson, Investor Relations, TDBFG, (416) 308-9030 Copyright (C) 2009 CNW Group. All rights reserved.This content has passed through fivefilters.org. |
| Fed forecasts long jobs drought - San Francisco Chronicle Posted: 25 Nov 2009 08:54 AM PST The unemployment rate will be in the 6.8 to 7.5 percent range at the end of 2012, according to forecasts of 17 top Fed officials, down from its 10.2 percent rate in October but still far above the 5 percent or so level typically seen in a healthy economy. Most of the Fed leaders "anticipated that about five or six years would be needed for the economy to converge fully to a longer run path" with sustainable growth and thriving labor market. Indeed, a separate report Tuesday said the economy grew more slowly than first thought this summer - a 2.8 percent annual rate of gross domestic product growth in the third quarter, not the 3.5 percent first estimated. That suggests that the recovery started with less of a bang than originally reported. "It's hardly a rip-roaring recovery," said Stuart Hoffman, chief economist at PNC Financial Services. "Usually coming out of a recession, you get growth more like a rodeo bull - at a pace of 6 or 7 percent in the early quarters of recovery. That isn't happening. It is coming out of the stalls more like a fat cow." The Federal Reserve forecasts came along with minutes from the meeting earlier this month of the central bank's policymaking committee, at which it left interest rates unchanged near zero and sent the signal that it would leave them at that very low level for an extended period. The document conveys some of the Fed's thinking as to why: Despite the incipient recovery, policymakers think the weak job market recovery could hang over the economy for some time. Weakness in the labor market "remained an important concern to meeting participants," the minutes said, as "business contacts reported that they would be cautious in their hiring and would continue to aggressively seek cost savings," and there were signs that businesses "would be able to meet any increases in demand in the near term by raising their employees' hours and boosting productivity," rather than doing new hiring. Fed leaders upgraded slightly their projections for the economy in 2010 and 2011. They now forecast that the unemployment rate will be in the 9.3 to 9.7 percent range at the end of 2010, compared with a 9.5 to 9.8 percent range in their previous forecasts from June. They expect GDP to grow 2.5 to 3.5 percent next year, compared with a 2.1 to 3.3 percent projection in June. The Fed minutes weren't the only report Tuesday to serve as a reminder of the softness of the recovery so far. GDP, a broad measure of economic output, rose at a 2.8 percent annual rate in the July-to-September period, the Commerce Department said, compared with the 3.5 percent growth rate first reported. The agency re-calculates the data as more complete information becomes available. The revised data are still consistent with the widespread view among economists that the recession ended over the summer, as the nation began producing more goods and services. But they also indicate that the burst of activity wasn't as great as first thought, which helps explain why the job market has been so painfully slow to turn around. The Associated Press contributed to this report. This article appeared on page D - 6 of the San Francisco Chronicle This content has passed through fivefilters.org. |
| Posted: 25 Nov 2009 08:26 AM PST LG Electronics, a global leader and technology innovator in consumer electronics, today introduced a bold new offering within its Commercial division—the LG Concierge Advantage program. The LG Concierge Advantage was unveiled on Monday in Vancouver, British Columbia, to coincide with the opening of the BC Hospitality Exposition trade show. National Hockey League legend Trevor Linden made an appearance at the trade show on behalf of LG to help with the unveil. The former Vancouver Canucks captain discussed how teamwork and integration are key to achieving maximum performance, whether it's on the ice or in the Canadian business environment. This LG Concierge Advantage features customized digital signage solutions at its core, supported by a range of program privileges including hardware, service and tech support, financing options and even marketing/sales support. With an infinite range of possible digital solutions, the LG Concierge Advantage truly offers Canadian industry the Power to Connect. "The LG Concierge Advantage program breaks the mould in the Canadian digital signage industry," says Tim Barnes, Marketing Team Leader, LG Canada. "Whether you're managing a local neighbourhood restaurant or a chain of luxury hotels across Canada, the LG Concierge Advantage program offers unique, digital signage solutions built upon service, quality and teamwork. We're thrilled to be launching this program and offering companies across Canada the Power to Connect." LG is already a leader in the Canadian digital signage industry, with over 30% market share in digital signage and over 50% market share in lodging (Q1-Q3 2009). And the brand is continually evolving with several new display models making their Canadian debut as part of the LG Concierge Advantage. One of the key lines that will debut is LG's new Pro:Centric LG700H series of displays, providing a robust communications interface that acts as a digital concierge and direct link to various activities and services for hotel owners. LG will also be introducing Pro:Idiom integrated models that will provide instant access to cable TV, satellite TV or video-on-demand services. Both the Pro:Centric and Pro:Idiom series features EcoSmart environmentally friendly features to maximize performance and minimize power consumption, and paired with complete service and support from LG's Authorized Service team, the LG Concierge Advantage program will allow LG to further expand its prowess in the Canadian market, by targeting sectors as diverse as hospitality, health care, retail, banking and government. The Concierge Advantage will offer unparalleled service and flexibility for Canadian businesses, featuring rapid response on-site servicing, turn-key leasing from GE Capital Vendor Financing Group, certified sales training and a host of other options. Customization is the key and the LG Concierge Advantage program promises to take the LG Commercial division to the next level. For more information about the LG Concierge Advantage, please visit LGcommercial.ca.
About LG Electronics, Inc.
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