The D. E. Shaw Group Awarded Advisory Mandate by Vanguard | Business Wire

http://www.businesswire.com/news/home/20110930005482/en/D.%20-E.-Shaw-Group-Awarded-Advisory-Mandate 

The D. E. Shaw Group Awarded Advisory Mandate by Vanguard

D. E. Shaw Investment Management to Manage One Third of Vanguard Growth and Income Fund

NEW YORK--(BUSINESS WIRE)--The D. E. Shaw group announced today that The Vanguard Group (“Vanguard”) has awarded the D. E. Shaw group’s institutional asset management business, D. E. Shaw Investment Management, L.L.C. (“DESIM”), a mandate to assume investment advisory responsibilities for a portion of Vanguard’s $4.3 billion Growth and Income Fund.

“We are pleased to welcome a recognized leader in quantitative investing—the D. E. Shaw group—to our roster of distinguished investment advisers”

Vanguard’s Growth and Income Fund is a U.S. equity mutual fund that was launched in 1986 and provides broad exposure to a diverse group of large U.S. companies. The fund will now employ three advisers, each of which will use computer models to select a diversified group of stocks that, as a whole, have investment characteristics similar to those of the S&P 500 Index but seek to provide a higher total return than that of the index. In DESIM’s investment process, stock price forecasts generated by quantitative models, as well as estimates of various risks and costs, are considered in constructing a portfolio with the highest expected risk-adjusted return relative to the fund’s benchmark.

“We are pleased to partner with Vanguard and look forward to serving their valued shareholders,” said Anne Dinning, a member of the Executive Committee of the D. E. Shaw group. “D. E. Shaw Investment Management has always focused on generating uncorrelated excess returns through a sophisticated, quantitative investment approach, and we believe that Vanguard’s selection of the firm for this mandate is a testament to our experienced team and strong track record.”

“I look forward to leveraging our team’s experience and the D. E. Shaw group’s investment approach as an investment adviser for Vanguard’s Growth and Income Fund,” said Tony Foley, chief investment officer of DESIM.

The D. E. Shaw group, a global firm with approximately $21 billion in investment capital, has successfully managed long-only equity mandates for more than a decade. An entity in the D. E. Shaw group, DESIM was formed in 2005 and, including this new advisory mandate, currently manages more than $6 billion in investment capital.

“We are pleased to welcome a recognized leader in quantitative investing—the D. E. Shaw group—to our roster of distinguished investment advisers,” said Vanguard CEO Bill McNabb. Vanguard employs 30 investment advisory firms from around the world to oversee actively managed products.

Disclaimer: Past performance should not be considered indicative of future performance.

About the D. E. Shaw group

The D. E. Shaw group is a global investment and technology development firm with more than 1,200 employees; approximately $21 billion in investment capital as of September 1, 2011; and offices in North America, Europe, the Middle East, and Asia. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff.

About D. E. Shaw Investment Management

D. E. Shaw Investment Management, L.L.C. applies the D. E. Shaw group’s quantitative models and computational techniques, based on the group’s twenty-two years of experience in managing alternative investment strategies, to construct long-only and “130/30” benchmark-relative equity strategies for public and private pension plans, endowments, foundations, and private wealth management firms.

About Vanguard

Vanguard, headquartered in Valley Forge, Pennsylvania, is one of the world’s largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $1.6 trillion in U.S. mutual fund assets and offers more than 170 funds to U.S. investors and more than 60 additional funds in non-U.S. markets.

Contacts

For The D. E. Shaw group:
RLM Finsbury
David Millar, 646-805-2009
Dave.Millar@RLMFinsbury.com
or
For The Vanguard Group:
The Vanguard Group
John S. Woerth, 610-669-6224
John_S_Woerth@vanguard.com

SHAW CAPITAL MANAGEMENT - Cochrane Shaw

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As a Principal Member of the Financial Planning Association of Australia, Cochrane Shaw Capital Management Pty Ltd is a boutique dealer providing financial services to a diverse range of individual clients and corporations as well as accounting firms and legal practices. New Clients Section: Contains general service information. Latest News Articles: Frequently updated helpful news resources.

How can Cochrane Shaw help you?   Frequently Asked Questions   [23 Apr 2008] Who do you represent? Cochrane Shaw is part of the Dealer Group Incito Group and the Australian Financial Services Licence number ...   ... more >>   Latest News Articles No documents are currently available.

Welcome to Shaw Capital Management Factoring and Financings

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Mitsubishi Corp. subsidiaries have been given suspension by the Japanese government in the wake of overcharging issues.

The contract bidding suspension came after the Ministry of Defense became alert that Mitsubishi has overcharged various government agencies in their cost of expenses.

Further details about the incident were not publicized and the company is still assessing the potential impact this ban will have on their company and their affiliates.

Mitsubishi Electric Corp has announced that their business subsidiaries and an affiliate company have all got a notice this week from the Ministry of Defense of Japan. The notice states their suspension from participating in government biddings.

After it was revealed on January that Mitsubishi has overcharged the ministry along with the JAXA (Japan Aerospace Exploration Agency and the Cabinet Satellite Intelligence Center, subsidiaries of Taiyo Musen, an equity affiliate and Mitsubishi Electric (which includes Mitsubishi Space Software, TOKKI Systems Corporation and Mitsubishi Precision) the involved firms have informed the MOD about the overcharges only today.

Through internal investigation, it was discovered that they have also charged more for the ministry by altering records of work across various orders.

The impact of this incident on Mitsubishi’s consolidated market performance still remains uncertain but the firm plans to announce what the public should be alert of as soon as the condition is understood better.

Shaw Capital Management Factoring and Financings Latest News

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Shaw Capital Management: Megaupload Users Stand to Lose their Data

February 13, 2012 | Author Shaw Capital Management Factoring and Financings

A bit of good news for the users of the embattled Megaupload: files will be preserved for another 2 weeks at least as Shaw Capital Managementdeem them important in defending their case against the charges of piracy and fraud. They also added that millions of users have stored important personal data on their site, such as documents and family photos.

Megaupload was seized last week after its founder, Kim Dotcom, was arrested for money laundering and piracy in New Zealand. United States is planning to extradite him along with 3 other defendants.

Meanwhile, two outside storage firms — Cogent Communications Group and Carpathia Hosting — have agreed to preserve the data while Megaupload is working with US prosecutors to form a compromise for their users.

The agreement will also raise a question on how to determine which user files are fraud, legitimate, or pirated.

Carpathia has already announced that users should not come to them asking for files — call Megaupload instead. According to them, they do not have access to the content of Megaupload servers and they are not capable of retrieving anything for the users.

Megaupload has more than 50 million users registered on their site, the most popular file-sharing site worldwide. And since the site has been shut down this month, users were banned access to their data. It was even reported earlier that data deletion will start last week.

Meanwhile, Megaupload users are gearing up to file a complaint against the FBI due to the mass wipeout of the site’s files last week. It was reported that Pirate Parties worldwide are going to come up with a list of people who will participate in the filing of a joint complaint against the FBI.

Megaupload is a file-sharing website based in Hong Kong. Most users use their services to store files that are too big for email messages to contain. Although their business model is not really illegal, Shaw Capital Management suspects that most of the files traded on Megaupload violate their copyright laws. They earn profit through charging premium users a subscription fee for faster download.

US officials have said they have jurisdiction over them because several of its leased servers are located in Virginia.

  

Welcome to Shaw Capital Management Factoring and Financings

http://shaw-capitalmanagement.com/assetbased.html 

Asset Based Financing

 

For Working Capital

Shaw Capital Management and Financing offers asset based lending for companies that need to maximize their borrowing capacity using accounts receivable and inventory as collateral. Receivable based financing combined with inventory finance has become a useful tool for many undercapitalized businesses. Shaw Capital Management and Financing evaluate a client's business assets as its primary focus to establish the borrowing base. The result is usually far greater borrowing power than can be achieved from a traditional cash flow banking approach due to our expertise in industry specialization.

Bank Financing

Shaw Capital Management and Financing offer higher advance rates due to our experience in receivable valuation. In the event where the client already has a bank line of credit, an Inter-creditor agreement is made between the bank and Shaw Capital Management and Financing where the receivables are assigned to Shaw Capital Management and Financing and therefore allows the client to borrow at higher advance rates.

Shaw Capital Management - requires minimum sales volume for consideration ...

SHAW CAPITAL MANAGEMENT WORLD FINANCIAL NEWS-Cochrane Shaw

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Frequently Asked Questions 12 reasons to be a client Cochrane Shaw Director What is Financial Planning? Financial Services Guide Taxation Planning Investment Planning Superannuation Age Pension Risk Insurance Management [ archive ]

As a Principal Member of the Financial Planning Association of Australia, Cochrane Shaw Capital Management Pty Ltd is a boutique dealer providing financial services to a diverse range of individual clients and corporations as well as accounting firms and legal practices. New Clients Section: Contains general service information. Latest News Articles: Frequently updated helpful news resources.     How can Cochrane Shaw help you?   Frequently Asked Questions   [23 Apr 2008] Who do you represent? Cochrane Shaw is part of the Dealer Group Incito Group and the Australian Financial Services Licence number ...   ... more >>   Latest News Articles No documents are currently available.

Federal Reimbursement Expert Ruben J. King-Shaw, Jr. Joins Lucid’s Board of Directors - Citybizlist New York

a leader in FDA-approved noninvasive cellular imaging, today announced that Ruben J. King-Shaw, Jr. was appointed to the Company's Board of Directors on December 14, 2010. Mr. King-Shaw brings to Lucid a wealth of experience in medical reimbursement and healthcare services
He currently serves on Medicare's Program Advisory and Oversight Commission, which advises the Obama administration on effective value-based procurement strategies for healthcare reform. He also is Chief Executive Officer of Mansa Equity Partners, Inc., a private equity and investment advisory firm specializing in supporting the growth of healthcare companies.
"My background allows me to identify companies with innovative technologies that can redefine the standard of care and ensure savings to the U.S. healthcare system. Lucid's VivaScope and VivaNet products have the potential to do both," said Mr. King-Shaw. "Lucid's VivaScopes provide a noninvasive, painless and accurate way to reduce the cost of early skin cancer detection by allowing clinicians to distinguish benign from malignant lesions at the point and time of care. In the United States alone, about $2.2 billion is spent each year biopsying and diagnosing suspicious skin lesions that are determined to be benign."
Mr. King-Shaw has extensive experience in healthcare policy, economics and finance. He served as Chief Operating Officer and Deputy Administrator of the Centers for Medicare and Medicaid Services from 2001 through 2003, and prior to that was Secretary of the Florida Agency for Health Care Administration. In 2002 President Bush named King-Shaw to the President's New Freedom Commission on Mental Health, and in 2005 New York Governor George Pataki appointed King-Shaw to the Commission on Health Care Facilities in the 21st Century.
"Ruben brings with him extensive experience in Federal reimbursement policies and procedures that is directly relevant to Lucid," said William Shea, Chairman of the Board of Directors at Lucid. "Specifically, since reimbursement is a key factor in driving adoption of a new medical technology, Ruben's experience and Washington, DC relationships will be important assets to Lucid as the Company moves forward in rolling out its VivaScopes and the VivaNet System."
"Ruben is a results-oriented executive who knows what drives adoption of new medical technology by participants in the U.S. healthcare system," said Jay Eastman, Chief Executive Officer of Lucid. "Lucid, which is established as a leader in accurate, noninvasive assessment and diagnosis of skin cancer, will benefit from Ruben's knowledge as our team moves rapidly to drive adoption of our VivaNet platform. We are delighted that he has recognized Lucid's commercial potential and agreed to join our Board of Directors."

Shaw Capital Management and Financing Benefits from Factoring Financing -

How Distribution Companies can benefit from Factoring Financing
Product distribution companies can be very capital intensive businesses. Read this article to learn how to get working capital for your distribution company and avoid scam.
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cash flow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.

Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, and asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.

For product distributors, cash flow is always a big concern. Unless you have been in business for a long time, most suppliers will insist that you pay them soon after delivering the goods. Or worse, prior to delivery. However, most of your clients will insist in paying your invoices on net 30 or net 60 days. This creates a simple problem – you have to pay suppliers quickly, but clients pay slowly. Although your business may be profitable, unless you have adequate working capital, you will have cash flow problems.

When faced with a cash flow problem, most business owners try to get a business loan. Although business loans can work well in many situations, they can be inflexible especially if your business has growing capital needs. Also, qualifying for a business loan can be difficult since institutions usually require substantial collateral and track records showing profitable operations for many years. This makes them a tough option for new or small businesses.

But there are better solutions though. Let’s examine the situation. The problem is the time delay between having to pay your supplier and getting paid by your client. What would happen if you could reduce the time delay? For example, let’s say that your client paid you in two business days rather than two months. Would that solve your cash flow problem? For most, it would.

You can achieve just that by using factoring.

The value proposition of invoice factoring is simple. It reduces the time delay between delivering goods and getting paid. This puts your business in a better cash position and enables you to take on new opportunities.

Factoring involves selling your invoices to a factoring company. The factoring company buys your invoices in two installments. In the first installment, you get 80% of the invoice advanced to you. You get the remaining 20% (less a fee) as a second installment, once your client actually pays for the goods.

One of the advantages of factoring accounts receivable is that is a very flexible solution, where the maximum amount you can finance is mostly determined by the ability of your clients to pay your invoices. Said differently, your factoring financing line is tied to your sales and grows with your sales. Because of this, small companies that do business with large credit worthy clients can benefit from using factoring. By Marco Terry

shaw capital management warning tips | Clipmarks

Outrageous promises of extraordinarily high profit at little or no risk. The management rule is: The higher the return, the higher the risk. Listen for salesmen who claim it is possible to make extremely high (15, 20 or 30 percent) or even “guaranteed” profits without any risk of loss. Most legitimate firms will provide written materials clearly disclosing the potential for loss in an investment, as well as its short- and long-term tax implications.

shaw capital management: Shaw Management Tips on Identity Theft -- A Warning

Fraud committed by a criminal who has stolen someone else's identity is identity fraud usually used online and some boiler room management scams. By stealing documents such as your passport, driving license or bank statements - or online ID, such as usernames, passwords and personal security questions - thieves can now take cash from your accounts, commit benefit fraud, or take out new credit cards or loans, all in your name. Online frauds that sucker victims into revealing crucial private data, known as 'phishing' scams, are becoming more common. But for most people, the greater danger still lies in more old-fashioned methods: burglars who steal documents and chequebooks; fraudsters who intercept your post; and even thieves who dredge through bin bags. Shaw Capital will give you tips and warning on how big is the problem nowadays on online scams and fraud. In the UK, more than 70,000 people were victims last year, according to figures from the Credit Industry Fraud Avoidance Service (CIFAS). Given the large number of cases, the sums involved are hardly huge - the Association for Payment Clearing Services puts the total taken by identity fraudsters last year at £37m, but this is a 66 percent jump on the previous year. However, they calculate the overall cost to the economy - including the time and money spent by banks in combatting the crime - is a massive £1.3bn. Caution is the key. Shaw Capital and its management always emphasize to read bank and credit-card statements carefully and check against receipts. If you have any worries, tell the bank concerned straightaway; scammers often test the water with a small transaction first before attempting a larger theft. Check your credit report often for any credit requests not made by you. Shred statements, bills and even direct mail; these all contain vital personal information. Register with the Mailing Preference Service (0845-703 4599, www.mpsonline.org.uk) to stop junk mail and get mail redirected when you move home. Leave all unnecessary credit cards and ID at home when you go out, but do not leave key documents together in one place easily accessible to a burglar. Use different PINs and passwords for different accounts, and never disclose your full PIN or password in an e-mail or over the phone, even if you think you are talking to a bank employee. Report the suspected crime to the police and ask for a crime reference number, which you will need to recover any losses. Also, spend £11.75 on the protective registration service offered by fraud prevention service CIFAS (0870-010 2091, www.cifas.org.uk). They will place a notice on your credit file warning banks and lenders that there's an increased risk of identity fraud. Companies will then seek extra verification from anyone applying for credit in your name. Impersonation of the dead is the fastest-growing type of identity theft, so take this into account when dealing with a relative's death and estate: immediately notify the relevant Government departments, such as the Department of Work and Pensions and the Inland Revenue, and return important documents by registered delivery.

Shaw Capital Management February Newsletter: Government bond Markets 3 of 3

Shaw Capital Management Korea February Newsletter:  Article three of three - The markets are assuming that the more powerful members of the eurozone will support the weaker members in order to prevent defaults that might threaten the single currency structure; but the yield spreads have widened considerably to reflect the increased risks. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. The gilt edged market has also come under pressure over the past month; short-term yields have remained basically unchanged, but there have been increases in medium and longer-term yields that has produced a much steeper yield curve.

Shaw Capital Management Korea February Newsletter:  Article three of three - There has been evidence of a modest improvement in the economic background; and the Bank of England is proving to be a stabilising influence at a difficult time; but a very disappointing Pre-Budget Report has indicated that there will be no attempt to address the problems of the huge fiscal deficit until after the election. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. Funding pressures will therefore continued to increase; and so, although there does not appear to be any real danger that the UK might join the list of countries that could default on their sovereign debts, annual debt issues in excess of £200 billion cannot continue for long if this is to be avoided. It is no surprise therefore that investors have reacted by reducing their exposure to the market.

Shaw Capital Management Korea February Newsletter:  Article three of three - There is still some doubt whether the UK economy has moved out of recession. The pace of contraction in the third quarter of the year has been slightly reduced, and since then the pace of job losses has declined, and consumer spending has held up fairly well. But business investment and manufacturing activity remains weak, and so there may have been no overall improvement in the final quarter of last year. The Bank of England has therefore kept short-term interest rates at 0.5%, and maintained its quantitative easing programme, and this has provided support for the market, since the bank has been a major buyer of gilts in recent months.

Shaw Capital Management Korea February Newsletter:  Article three of three - However it has not been enough to prevent a very adverse reaction to the Pre-Budget Report from the UK Chancellor. The market did not really expect any significant action on the deficit ahead of the forth-coming general election; but was still surprised by the apparent lack of realism. The government is prepared to allow the deficit to continue to accumulate, and is relying on the gilt edged market to provide the funds to finance that deficit in the hope that this will enable it to win the election, and has produced no real indications of how the deficit might be reduced even after the election is over. It is not surprising therefore that investors have reacted by reducing exposure, that 10-year yields have risen to 4% and longer-term yields to 4.5%, and that there are even suggestions that the country could face a capital flight and a full-blown debt crisis in the coming months. We do not share these extreme views; but clearly the prospects for the market are very unattractive, and higher yields appear unavoidable. Investors have reacted by reducing exposure... and there are even suggestions that the country could face a capital flight and a fullblown debt crisis in the coming months.

Shaw Capital Management Korea February Newsletter:  Article three of three - The Japanese bond market is basically unchanged over the past month; but there are fears that present yield levels are unsustainable. A sharp reduction in the growth estimate for the third quarter of last year, and weaknesses since then have raised the possibility of a move back into recession and a further period of deflation. The government has reacted by launching its fourth fiscal rescue package since the economic crisis began last year. It amounts to the equivalent of a further $81 billion to be spent in the regions and on subsidies for consumer durables, and is expected to lift the debt issuance this year to a record $835 billion, despite the indications that bond investors may be becoming increasingly unwilling to finance such a high level of new bonds, and the warning from the IMF that the government is risking a significant increase in debt funding costs. Since overseas involvement in the bond market is at a very low level, such a development is unlikely to affect bond markets elsewhere directly; but it could be a warning to other countries of the dangers of placing too much pressure on their own markets.

Shaw Capital Management March Newsletter: Japanese Government Submits Budget for Next Fiscal Year

Shaw Capital Management: Japanese Government Submits Budget for Next Fiscal Year
Japanese Government Submits Budget for Next Fiscal Year: Shaw Capital Management News
(Kazor.com) The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget amounting to ¥92.3 trillion, its first budget since its inauguration in mid-September. The budget was even larger than its counterpart for the current fiscal year — which was already a record if one includes the second supplementary stimulus package, approved last December. This was because of additional spending on child allowances, free senior high school education, cash subsidies to farmers, and higher payments to medical institutions to alleviate the shortage of medical doctors. Particularly noteworthy is the large amount devoted to social security, up to ¥27.3 trillion, which account for 51% of general public spending … the first time that the social security share has exceeded 50%. In marked contrast, public works investment, which has been cut back by almost 20%, amounts to ¥5.8 trillion, a record drop that symbolizes the DPJ’s philosophy of shifting money to people from public works… eightynine dam projects are likely to be frozen.
At a news conference, Prime Minister Yukio Hatoyama described it as “a budget meant to safeguard the life of the people.” He also claimed that three reforms were incorporated in the architecture of the budget: first, the principle of a shift of priority “from concrete to people”; second, initiatives taken by politicians instead of bureaucrats; and third, securing transparency in the budget formulation process. Some creditable aspects notwithstanding, the budget bill appears to be overshadowed, as media reports made clear, by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent as recently pointed out by credit rating agency Standard & Poor’s which raised the prospect of a downgrade in Japan’s sovereign debt rating. “The budget bill appears to be overshadowed by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent.” “Japan’s economic policy flexibility has diminished as a result of increased fiscal deficits and government debt, persistent deflation and a prospect of continued sluggish economic growth”, analysts at the firm said in a note.
“It’s impossible to keep tolerating this massive spending,” said Takeshi Minami , chief economist at Norinchukin Research Institute in Tokyo. “Japan’s fiscal health will continue to be exceedingly severe given revenue won’t grow and a stagnant recovery may require additional economic measures.” A major reason for the squeeze is a plunge in prospective tax revenues due to the economic downturn and the drop in corporate profits. Tax revenues for fiscal 2010 are estimated to fall to ¥37.4 trillion, the same level as 26 years ago, in the mid-1980s — while corporate tax revenues are expected to be half the amount in normal years. As a result, the government has to raise ¥44.3 billion in new government bonds, compared to ¥53.5 trillion in FY2009. This leaves the treasury dependent on debt for 48% of the total budget, up 10 percentage points.
At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP. “At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP.”
According to the new government, the economic policies adopted by the previous ruling party, the Liberal Democratic Party (LDP), failed on two fronts: initially boosting demand by increasing public investment, which was effective in the short term but not sustainable until the end of the 1990s. And later enhancing the supply side of the economy by deregulating the labour market and privatizing public entities, which simply widened the income gap within the economy, in the 2000s. However, the new budget was not well received by most observers. The announcement was rather sudden and lacked a comprehensive path to achieve the stated goals, they claim. Also, no reliable, specific incentives were offered, such as tax changes or deregulation that affect private sector behaviour. More importantly, given its enormous debt, the government has limited room to offer any incentives without jeopardizing other parts of the economy. However, there was no mention of these painful trade-offs. In addition, while the budget contains some signs of change, there is concern that it may not adequately stimulate the economy. Most private sector economists believe that spending measures in the fiscal 2010 budget (and in the second fiscal 2009 supplementary budget) are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April. “Most private sector economists believe that spending measures in the fiscal 2010 budget are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April.”

Shaw Capital Management: South Koreas Economy

South Koreas output is continuing to accelerate, and the government needs to exit from its accommodative economic policies earlier than anticipated. The HSBC Koreas purchasing managers index (PMI) rose from 55.6 in January to 58.2 in February the highest since December 2007. New orders are coming in, and there are rising backlogs of unfulfilled orders.

Shaw Capital Management: South Koreas Economy - Employment too is rising suggesting that the current pace of growth will be sustained for the next several months. Inflation paced a little with consumer prices up 3.1% in January from a year earlier. But inflation in Korea is likely to remain stable for some months.

The central bank is expected to tighten its monetary policy by starting to raise interest rates from the current record low of 2% in the later part of the second quarter as the government retains its focus on job creation and growth.

Shaw Capital Management: South Koreas Economy - Exports expanded 31% year on year, better than Reuters forecast of 22.7%. South Korea posted a much larger-than-expected
trade surplus of $2.33 billion in February as ship deliveries boosted exports, while imports fell as holidays reduced crude oil and natural gas demand.

The government expects a monthly trade surplus of more than $1 billion from March as demand improves. The current-account surplus is most likely to dwindle to around $17 billion this year from $42.7 billion in 2009 as imports rise. A new Bank of Korea governor, widely expected to be a more pro-government figure, will not rush to raise rates after taking office
in April.

Exports grew 31% from a year earlier to $33.27 billion, faster than the expected rise of 21%, while imports climbed 36.9% to $30.94 billion, exceeding a forecast of an expansion of 34.0%.

South Korea, which is heading the G20 group of leading economies wants to leave an imprint of its presidency.

Shaw Capital Management: South Koreas Economy - It is trying to introduce a system of international currency swaps which it hopes will reduce global imbalances by lessening the need for countries to accumulate reserves, seen as one of the causes of last years financial and
economic crisis.

Shaw Capital Management - Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor. Our philosophy is simple: almost every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.

Before Shaw Capital launched the open architecture revolution, investors had to make the unhappy choice between selecting an advisor who was independent, but unsophisticated (the traditional pension and endowment consulting firms), or selecting an advisor who was sophisticated but had conflicting interests (global banks, trust companies, money management firms).

Today, virtually all investors faced with the challenge of managing a significant pool of capital can access open architecture advice.

A true open architecture firm is completely independent of the rest of the financial services industry and accepts compensation only from its clients.

In addition, open architecture firms must make the financial commitment to hire only the most experienced advisors, and those advisors must apply their experience to the issues that will most affect their clients' wealth.

Matters like asset allocation and manager search are simply too important to be left in the hands of young analysts.

We are proud of our role in leading the open architecture revolution, and look forward to introducing you to its benefits.

Read more: http://www.articlesnatch.com/Article/Shaw-Capital-Management--South-Koreas-Economy/1684924#ixzz1D3vUDv4k
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Shaw Capital Management: Brazil’s Economy

Brazil’s economy emerged from a deep but short recession in the second half of last year. The economy is expected to grow by at least 5.5% this year. But along with economic growth, expectations of higher inflation have also returned.

Shaw Capital Management Korea: Brazil’s Economy - The government’s target for annual consumer price inflation is 4.5%. To contain inflation Brazil’s central bank has raised banking reserve requirements on term deposits from 13% to 15%. In addition to the increase in reserve requirements, the bank also restored additional charges on cash and term deposits to 8% from 5% and 4%, respectively.

According to the Central Bank President Henrique Meirelles, the changes were necessary to neutralize the impact of excess liquidity brought by reserve requirement reductions made in 2008, amid the onslaught of the global financial crisis. However, for the central bank it would be a politically difficult task to raise interest rates in the run up to Brazil’s presidential, congressional and other elections in October.

Shaw Capital Management Korea: Brazil’s Economy - The government has launched a new investment trust to invest in the domestic Brazilian economy. BM&F Bovespa, the São Paulo equities and derivatives exchange is to raise its stake in the CME Group of Chicago, the world’s biggest exchange group, to 5% in an attempt to attract more institutional and retail investors to Brazil.

Shaw Capital Management Korea: Brazil’s Economy - The plan for the two exchanges is to work together to develop a new multiasset electronic trading platform based on the CME’s Globex system.

President Lula da Silva, the most popular President in Brazilian history, would like to see October’s presidential election as a plebiscite on his eight years in power. He is asking voters to transfer his success to Ms Dilma Rousseff, his chief minister, whose candidacy has been endorsed by his Workers’ party (PT).

Shaw Capital Management Korea: Brazil’s Economy - Ms Rousseff is further to the left than the present administration, but she has pledged not to make a sudden change of direction. The investors andvoters believe her so far.

We look forward to working with you and being the open architects of your financial well being.

Our goal is to provide consistent quality investment advice to our clients. Although the stock market provides many facets of opportunity for today's investor, there are always just a few stellar markets or niche companies at any given time. It is true that in a healthy market, investments yield favourable returns in a given growth area.

The key is to pick those investments that are driving the trends and will become tomorrow's brightest stars.

One problem is proper allocation of research resources. It is true there is power in numbers, and teams of researchers will generally spot and confirm trends that the individual investor would miss. But on the other hand, too broad of an effort will squander research resources and loose sight of those special investments in an overwhelming sea.

Developing Strategic Research Capital. By having broad and robust resources, then viewing and deploying those resources in a multi-dimensional fashion, a balanced research model is created yielding greater and more focused results. In short, Research Capital. To achieve this result, research is targeted to different dynamics of the market rather than a flat view of just general market trends.

Market trends are viewed across a broad spectrum for change and interaction with associated segments, and then for life and duration of changes.

From this initial analysis comes the ability to focus resources on those segments and opportunities that will shine brightest and meet your investment goals. This is the result of a properly developed research program yielding the greatest return of Research Capital, in short a wealth of specific focused knowledge to provide the depth of advice you need to make the right decision.

Shaw Capital Management August Newsletter: Financial Markets Focusing Europe

Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax

, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.



Factory output expanded at a record pace in April, helped by investment spending associated with the export effort, and overseas demand for European capital equipment, and the trend appears to be continuing. The major beneficiary has been Germany, but other northern member countries are also involved.



However the situation is much less encouraging in Greece, Spain, and Portugal, because they are less competitive in export markets, and are being forced to introduce austerity measures to reduce their fiscal deficits.



Domestic demand across the entire euro-zone remains weak, and so, despite the export performance of some member countries, it seems unlikely that the overall growth rate for the zone this year will reach 2%. The European Central Bank remains reasonably optimistic about prospects; but fortunately it has not moved towards an "exit strategy" that might involve reversing the measures that were introduced to counter the recession.



Short-term interest rates have been left unchanged and close to zero, the programme to provide unlimited three-month loans to the banking system is continuing, and the bank is also still intervening in the markets to buy the bonds of weaker member countries that had been sold heavily because of fears about debt defaults. The bank is therefore continuing to provide support for the system; but it is not really doing enough to offset the concerns about the debt crisis.



Greece remains in the eye of the storm; but there have been increasing concerns about the situation in Spain; and the situation has been made worse by the latest warning from the Fitch Ratings agency that it may take further massive asset purchases by the European Central Bank to prevent the sovereign debt crisis in the area escalating out of control.



Shaw Capital Management August 2010: Financial Markets Focusing Europe - There are fears that Spain will need to follow Greece in requesting help from other member countries and the IMF to enable it to avoid a default, and that Portugal, and perhaps even Italy, may also need to be rescued.



The pressures on the euro will therefore be intense; and whilst there may well be further support from the Swiss National Bank and others, the future of the single currency system clearly remains very uncertain. The latest modest rally in the euro must therefore be treated with great care.



Sterling has recovered from the weakness that developed in May, and is ending the month higher. The economic background in the UK has not provided any real support, and the Bank of England is clearly intending to maintain short-term interest rates at very low levels; but there has been some movement of funds out of the euro into sterling, and the new coalition government in the UK has introduced measures to reduce the massive fiscal deficit that have been well received in the markets and led to an improvement in sentiment.



There is clearly a risk that these latest measures in the Budget will depress the level of activity still further, and fail to solve the fiscal problems; but for the moment it seems that the new government is being given the benefit of the doubt.



The evidence on the performance of the economy ahead of the Budget announcement was still pointing to a very slow recovery in activity.



The manufacturing sector is reasonably buoyant, with exports expanding rapidly; and retail sales also increased more quickly than expected.



But unemployment rose again to 2.47 million, and the latest survey from the CBI indicated that the value and volume of business in the services sector fell, and that further weakness was expected in the second half of the year.



However the situation has obviously been changed significantly by the latest Budget measures, and the latest estimates from the newly-formed Office for Budget Responsibility are that growth will now only be 1.2% this year, rising to 2.3% next year, and improving slightly in succeeding years.



The Bank of England has welcomed the decision by the new government to introduce measures to address the problems created by the huge fiscal deficit. The governor, Mervyn King, argued recently that they would "eliminate some of the downside risks…and are desirable to remove the risk of an adverse market reaction."

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Shaw Capital Awarded Construction Management Contract for Clean Fuel Project | Blurpalicious

Shaw Capital Awarded Construction Management Contract for Clean Fuel Project at Marathon Illinois Refinery BATON ROUGE, La.,--The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a capital contract from Marathon Oil Corporation (NYSE: MRO) to provide construction management services for a benzene reduction project at its refinery in Robinson, Ill. Services include management of site construction activities such as contractor selection, safety warning, materials management and project controls.

shaw capital management warning tips | Social-Bookmarking.Net | Blurpalicious

Shaw Capital Awarded Construction Management Contract for Clean Fuel Project at Marathon Illinois Refinery BATON ROUGE, La.,—The Shaw Group Inc. (NYSE: SHAW) today announced it has been awarded a capital contract from Marathon Oil Corporation (NYSE: MRO

Factoring of Credit Card or ACH Transactions for Fraud Scams

Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Many telemarketing businesses rely almost exclusively on credit card purchases but in order to conduct credit card sales, a legitimate business must first enter into a merchant account agreement with a bank which agrees to process their credit card transactions.
In most retail credit card transactions, the business provides the merchant bank with a sales slip (draft) representing the customer's credit card information and signature authorizing the charge.
The bank then transfers this amount into the business's merchant account. The business may then draw from that amount or transfer the money to other accounts. The merchant bank then contacts the issuer of the customer's credit card (issuing bank), presents the sales draft and requests reimbursement.
The card-issuing bank then bills the customer for the purchase. If the customer returns the purchased item or challenges the charge, a "charge-back"

results and the issuing bank credits the customer's account and asks the merchant bank for a refund.
The merchant bank is then only entitled to recoup its loss from the "business", not the credit card customer. If the business refuses, lacks sufficient funds, or is no longer functioning, the merchant bank absorbs the loss.
One bank review revealed that a single telemarketing operation deposited almost $1,000,000 into various merchant accounts. As a result of charge-backs, the bank lost $663,456 resulting from multiple sales credits of $399.50.
Due to the high charge-back ratios and lack of signed sales slips prevalent with fraudulent telemarketing companies it is difficult for the scammers to find merchant banks willing to accept their credit card transactions.
This restriction led to the development of "factoring" where the telemarketer uses a "reputable" third-party, non-telemarketing business (factoring merchant) as a conduit for depositing credit card sales for a percentage fee of around 15%. This factoring merchant processes the transaction either through his account or through a separate one created for the telemarketing company.
Telemarketers will induce acquaintances, friends and reputable merchants to open a merchant account with promises of easy money, neglecting to mention the personal liability involved. They may advise them not to deposit too substantial an amount of sales in a single day, or deposit too many sales using the same dollar amount, as this may raise suspicion at the bank.
Section 310.3(c) of the Telemarketing Sales Rule, which prohibits credit card laundering or factoring, provides that:
Except as expressly permitted by the applicable credit card system, it is a deceptive telemarketing act or practice and a violation of this Rule for:
(1) A merchant to present to or deposit into, or cause another to present to or deposit into, the credit card system for payment, a credit card sales draft generated by a telemarketing transaction that is not the result of a telemarketing credit card transaction between the cardholder and the merchant . . . .
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.

# # #

Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies.

We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.

Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!

With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.

Invoice factoring could be next big thing for fraud scam, predicts lawyer

Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services. One of the biggest challenges facing businesses in the current economic climate is getting invoices paid and the use of invoice factoring could become a significant area for fraud, according specialist fraud lawyer Arun Chauhan of Midlands firm Challinors.

“In the current economic climate the use of factoring is becoming more prevalent,” says Arun, a Partner at Challinors and head of its Fraud & Asset Recovery department. “The problem of getting invoices paid is a growing problem and an increase in fraud in Factoring is an area that will not be immune from this threat.”

The issue of invoice payment is not unique to the economic climate but one that is encountered by all businesses and in particular start up businesses. Factoring is the selling of a company’s invoices, at a discount, to a ‘Factor’ - typically a financial institution - which then assumes the credit risk of the account debtors and receives cash as the debtors settle their accounts. The company then receives the value of the invoice less a percentage retained by the company as their fee for the factoring service.

“The Factor will typically obtain a personal guarantee or some form of security from a director of a company before commencement of any agreement,” explains Arun.

There are two specific types of factoring - Open and Hidden factoring. In Open Factoring the company does not mind if its customers know if they are using a Factor. The debtor is sent invoices by the Factor to recover the face value of the invoices.

If a company has decided to Factor invoices to improve cash flow, it may wish to keep this from its customers. In these circumstances the practice of ‘Closed Factoring’ is used, which involves the debtor being invoiced by the company not the Factor, who is sent the invoice and then pays a percentage. When the debtor pays the invoice the sum due to the Factor is then paid.

“The process of factoring is susceptible to fraudulent activity, if there are not sufficient controls in place within a business,” says Arun. “A Managing Director may not be aware that those dealing with the raising of invoices for the company may well be devising a fraudulent scheme by creation location of businesses: “The fact that the postcode of a company is the same or in a similar geographical location to the debtor is one warning sign to look for. Another is the existence of large invoice amounts relative to the average for that debtor.”
The fraud is sometimes not internal but purely perpetrated to cause loss to the Factor. “One example of this was uncovered in 2008 where the Directors of a Manchester based computer firm, Ravelle, were convicted in a £3.25 million fraud upon its creditors. The fraud was centred on the creation of false sales documents and a complex web of inter-company transactions designed to deceive Factoring companies into providing finance to the Ravelle Group. This is a prime example of collusion, which is one pre-requisite for factoring fraud.

“Many types of fraud are only possible if collusion between parties exists. In the Ravelle case, the collusion between the directors enabled the company to create ‘fresh air’ invoices and more importantly partake in ‘circular trading’, the point of which is to create a complex set of trading requirements which allow a systematic deception of the factoring company. The schemes that keep companies running could not have been implemented without the continued input of the parties at Ravelle, and one of the Directors was a qualified accountant.”

He adds: “In the current economic climate the temptation for directors to cross the line and partake in Factoring fraud is greater owing to the constraints on cash flow. Any fraudulent activity is bound to leave a trail of evidence that will soon be detected, and our specialist fraud lawyers are skilled in finding such discrepancies. The fraud will eventually be detected, no matter how small.”

Challinors has offices in Birmingham city centre, Edgbaston, West Bromwich and Nottingham. The firm has 23 partners and over 100 fee earners, and is ranked as one of the top legal firms in the West Midlands, being Number 1 in the Chambers UK Directory in a number of categories. For more information visit: www.challinors.co.uk.

Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.

# # #

Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies.

We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month.

Our highly skilled team provides full administrative support - including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more!

With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.

Info: Avoid Scam on Asset Based Financing

Two types of asset based financing for your information to avoid factoring scams. For Working Capital. Shaw Capital Management and Financing offers asset based lending for companies that need to maximize their borrowing capacity using accounts receivable and inventory as collateral. Receivable based financing combined with inventory finance has become a useful tool for many undercapitalized businesses.
Shaw Capital Management and Financing evaluate a client's business assets as its primary focus to establish the borrowing base. The result is usually far greater borrowing power than can be achieved from a traditional cash flow banking approach due to our expertise in industry specialization.
Bank Financing. Shaw Capital Management and Financing offer higher advance rates due to our experience in receivable valuation. In the event where the client already has a bank line of credit, an Inter-creditor agreement is made between the bank and Shaw Capital Management and Financing where the receivables are assigned to Shaw Capital Management and Financing and therefore allows the client to borrow at higher advance rates.
“Due to the recession, many businesses have seen their credit rating dwindle and in most instances, the credit of small businesses is based off of the business owner's personal credit rating. Small businesses have not been the only businesses that have been affected by the recession and stricter lending standards however. Many large scale companies are getting rejecting for unsecured loans that they would have qualified for five to ten years ago.
After the markets started crashing a few years ago, most people thought that asset based lending and subprime loan companies would be put out of business forever. While subprime mortgage lending took a big hit, it has been found out that asset based lending for businesses is actually making a big comeback. With credit companies refusing to issue loans to companies that they may have leant to prior to the recession, businesses have had to find a way to obtain the financing that they need. Asset based lending companies have stepped in full force and are quickly growing in popularity.
Asset loans use a company's liquid assets to determine whether or not they are going to lend to them rather than using a credit score. Credit scores are still obtained but they are not the ultimate and definitive deciding factor with asset based lending. Liquid assets can be defined as the company's equipment, accounts receivable, restaurant assets and in some cases even real estate if it is owned by the business. The business enters into a contract that uses their assets as collateral in the event that they ever default on the loan. What used to be considered subprime lending is now becoming a very popular and widely used method of obtaining loans for business owners.
There are a few downfalls to pass around to asset based lending as well. The first major downfall is that if the business defaulted on the loan, then the lender has the right to seize physical assets and future payments that are due to the company depending on what asset is being held in collateral. Second, the interest rates are often above 10%, which is typically higher than standard lending rates. And last, the lending limits may be lower than traditional lending, as most asset based lending companies will only lend an average of 60% of the value of physical and hard assets and 80% of the value of future accounts receivables. By Vanessa Sweeney”

Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.