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October 20, 2006
Cara's Daily Planet, Fri., Oct. 20, 2006, 6:23 AM
Readers interested in preserving capital through awareness of significant events are invited to link published articles from mainstream or alternative media in this space, and discuss them as you wish.
Google vs Yahoo. Isn't it interesting that two competitors (both Cara 100 btw) can be going in opposite directions?
The IPO of ICBC is interesting, not just for the huge size, but because Chinese banks seem to be valued at 2.5x book value vs in India where apparently it's about 3.5x BV. In any case, the major banks are clearly a play on emerging country growth.
The role of OPEC and Russia in the unfolding oil wars is now in the spotlight with the latest OPEC decision.
Posted by Posted by Bill Cara on October 20, 2006 06:23:15 AM | Category: The Daily Planet
Discourse
Berkshire Hathaway to take over Equitas liabilities UPDATE
Posted by: oratier ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
October 20, 2006 11:23 AM [link]
Re KRY:
Venezuela Plans to Take Control of Oil Ventures Before Year-End
Oct. 20 (Bloomberg) -- Venezuela plans to take control of four oil-production joint ventures run by companies such as Exxon Mobil Corp. and ConocoPhillips before the end of the year, Oil Minister Rafael Ramirez said today.
The four ventures, set up before President Hugo Chavez came to power in 1999, pump 540,000 barrels of crude a day, or 22 percent of production in Venezuela, the world's fifth-largest oil exporter. Chavez has said his government would seize the companies.
``We will take control before the end of the year,'' Ramirez said in Doha, Qatar, where he was attending a meeting of the Organization of Petroleum Exporting Countries. ``This won't be traumatic and it won't be a problem for the companies.''
The companies are owned in part by Exxon, Conoco, Chevron Corp., Total SA of France and Norway's Statoil ASA. The foreign companies invested about $17 billion in the ventures in the 1990s, when oil prices were as low as $10 a barrel.
Two of the four ventures have $1.6 billion in outstanding bonds and the others owe $2.3 billion in loans. Ramirez said there's no risk of a possible default because ``the amount we're talking about is nothing for these companies.''
Question: What stops Chavez to nationalize foreign oil ventures, and later also Crystallex?
Posted by: tinman at
October 20, 2006 1:02 PM [link]
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INDICATIONS
Stocks futures turn lower as Caterpillar disappoints
Caterpillar shares slump after results, outlook; Google surges
By Steve Goldstein & Tomi Kilgore, MarketWatch
Last Update: 8:11 AM ET Oct 20, 2006
http://tinyurl.com/tbfgp
Posted by: oratier![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
October 20, 2006 8:52 AM [link]