| Barclays Launches Eight Commodity Sub-Sector iPath(R) Exchange Traded ...
NEW YORK, Oct. 24 /PRNewswire/ -- Barclays Bank PLC announced today the launch of eight new iPath(R) Exchange Traded Notes (ETNs) on the NYSE Arca stock exchange. The iPath ETNs are the first Exchange Traded Notes designed to offer exposure to sub-indexes of the Dow Jones-AIG Commodity Index(SM). They are linked to agriculture, copper, energy, grains, industrial metals, livestock, natural gas, and nickel. "The new iPath sub-sector ETNs provide investors with access to harder-to- reach markets," said Philippe El-Asmar, Head of Investor Solutions, Americas at Barclays Capital. "Investments in iPath Exchange Traded Notes surpassed $3.6 billion in just under 16 months from inception, and we believe these new ETNs will continue to attract attention particularly with daily creations and redemptions available since October 1, 2007." "The new iPath ETNs demonstrate Barclays continued commitment to providing investors with innovative investment solutions to the commodity markets," added Benoit de Vitry, Head of Commodities, Emerging Markets Rates and Quantitative Analytics at Barclays Capital.
Top-Shelf Digs At Libraries
And along Arch Street, a three-story wing provides another 23,000 square feet.
Certainly, the library is still rooted in books. It's home to the Hartford History Center, a conservatory of 50,000 volumes, many printed when Hartford was a publishing powerhouse. And a hefty portion of the 400,000 items in the library's collection are books.
But the new space isn't just rooms filled with static hardcovers. Everywhere there's activity signaling that the place is alive.
One of our first stops is the new children's wing, where something resembling a colorful sandbox is sprouting from the ground. It's an art project, Blalock explains, that kids created with a local artist to commemorate the "Day of the Dead," a Mexican holiday.
As we continue to the 28-computer "learning lab," I spot another colorful exhibition, this time by born-and-raised Hartford photographer Carla Ten Eyck.
Le rogue trader
TROUBLE had been expected but nothing like this. Widespread concerns that Société Générale, France’s second-largest bank by market capitalisation, had more subprime-related woes to reveal were proved right on Thursday January 24th, with the announcement of a €2.05 billion ($3 billion) write-down on its exposure to mortgage-related investments and to creaking bond insurers. But those numbers were a sideshow to something far more shocking. The bank also revealed that a single trader had racked up a further €4.9 billion loss by taking unauthorised bets on futures linked to European stockmarkets. Trading in SocGen’s shares were suspended on Thursday morning but it will not escape punishment. .
Comfortable path to economic hell may be deceiving
I have been reading a lot of late about our nation's growing economic doldrums. We went out to eat Saturday night, and our medium-price restaurant of choice was so crowded people were waiting outside in the cold -- and there were no parking places. Those two somewhat inconsistent messages reminded me of yet another line supposedly delivered by baseball philosopher/economist/gourmet Yogi Berra, who, when asked about a certain nightclub, said, "Nobody goes there anymore, it's too crowded." The restaurant we tried is new, just off Interstate 65 in Southern Indiana, where it's handy to tourists. It's on Veterans Parkway -- a new road already so weighted with box stores, restaurants, clothing stores, specialty shops, appliance centers and congestion, it's difficult to remember that one of the rationales for constructing it was to ease traffic flow across the area.
Report: 2nd French bank trader queried
PARIS—French police were questioning a second trader Friday about whether he knew of trades that led to billions in losses at bank Societe Generale, according to a newspaper report. Police said they could not comment, and officials at the prosecutors' office were not immediately available for comment. The respected daily Le Monde reported that the trader was in custody for questioning about his relationship with Jerome Kerviel, a futures trader accused by Societe Generale of massive unauthorized bets on European markets that the bank said cost nearly 5 billion euros (more than $7 billion) to unwind. Societe Generale has said it believes that Kerviel had no accomplices. Officials at the bank, one of France's biggest, did not immediately return calls seeking comment. Preliminary charges have been filed against Kerviel and he remains under police protection, but has been released.
Honey, I Lost the Endowment
Al Parish has been known for his flashy wardrobe and big spending ways in Charleston, S.C. His collection of fancy pens was believed to be worth hundreds of thousands of dollars. And the Web site of one of his investment companies featured a cartoon superhero version of Parish, dubbed "Economan." .
Isilon Systems' listing on Nasdaq falls under review
Isilon Systems, the Seattle data-storage company, is out of compliance with requirements for continued listing on the Nasdaq because an internal investigation has delayed the company's third-quarter report. The company said Friday it plans to request a hearing before a Nasdaq panel, and its shares will continue trading on the exchange until the panel makes a decision. Isilon's audit committee is reviewing some sales to resellers and other customers "to determine whether commitments were made that have an impact on the timing and treatment of revenue recognition and whether the company's internal controls relating to revenue recognition were sufficient." In October, the company's chief executive and chief financial officers were sacked. Isilon said it will not file its quarterly report until after the review is completed.
Calls for easing drug sentences
Recently sentenced, he is facing 15 years' incarceration with 10 years' probation for selling $750 worth of cocaine to an informant. Like the man Gertner freed, my son was not a drug dealer. The jails are swelling with many people caught up under the guise of the three-strikes rule. It is my wish that other judges will take a stance similar to Gertner's on a case by case basis, and recognize the far-reaching impact of long-term incarcerations of those who commit these minor offenses. This arrest-and-convict statute is robbing our communities of hard-working, productive individuals who are invaluable to their families. WILLIAM WEST
Dorchester JUDGE GERTNER'S decision was a good illustration of how the recently released JFA Institute report on criminal justice policy can be implemented with the best interests of the individual and society upheld ("US prisons full, but crime, cost to taxpayers soar," Page A10, Nov.
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Musharraf, who will meet with several European leaders during his eight-day visit, said it was important for the west to understand that it has a reliable ally in Pakistan. Speaking to reporters, he said he expects from EU leaders understanding for his country's predicament and stressed that, in return, they can expect Pakistan to stay the course on democracy and the rule of law. He acknowledged that 2007 had been an extremely ''turbulent'' year for Pakistan but underlined that the country's nuclear arms remained safely in the hands of the military establishment. ''There is no chance at all of our nuclear assets falling into the wrong hands,'' he said. Musharraf will meet with French President Nicolas Sarkozy, British Prime Minister Gordon Brown and other European leaders. He will also visit the World Economic Forum in Davos, Switzerland.
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