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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.

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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.

  

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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.

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