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Showing posts from September, 2016

NJ Will Increase Gas Tax 23¢

New Jersey Will Increase Gas Tax 23¢, Ending Long Political Stalemate - Gov. Chris Christie said an agreement would also cut the sales tax rate and phase out the estate tax.NYTimes

Jack Nicklaus Course Picked to Thwart North Korean Missiles

Reprint - A great read, it's almost symbolic. The greatest guys still helping out the wars. Reminds me of my grandfather and his golfing...He would totally allow this at his home course.  - Chad 

By Kanga Kong (Bloomberg) -- A Jack Nicklaus-designed golf course in South Korea was picked Friday as the new site for a U.S. missile system aimed at defending the country from any North Korean attack. The decision comes after more than two months of protests over the original plan to locate Terminal High-Altitude Area Defense, known as Thaad, in the mountainous county of Seongju more than 200 kilometers (125 miles) southeast of Seoul. The missile defense system will now be located nearby at the Lotte Group’s Skyhill Country Club, according to South Korea’s Defense Ministry. The move, just weeks after Kim Jong Un’s regime conducted its fifth nuclear test, may appease some villagers who fiercely opposed putting Thaad in Seongju due to concerns over how its powerful radars would impact their…

The Securities Law Blog: Och-Ziff Hedge Fund Settles FCPA Charges

The Securities Law Blog: Och-Ziff Hedge Fund Settles FCPA Charges: The Securities and Exchange Commission today announced that Och-Ziff Capital Management Group has agreed to pay nearly $200 million to the S...

Deutsche Bank Jitters (Sept. 29, 2016)

Deutsche Bank is back in the spotlight with everyone screaming for their demise. Personally I don't see it (Germany will save them no problem at all), and DB's credits have been in question for years. However, I would not take bets on the securities, at this point.  Safe sailing DB. Your research holds a special place in my economic heart. - Chad
---- Giving the markets jitters, struggling German banking giant Deutsche Bank AG DB hit a new 52-week low of $11.23 on Monday, closing down 7% to $11.85 on the NYSE, marking the lowest level in decades. The price movement reflected investors’ concern that the bank may raise capital to settle the potential $14-billion accord with the U.S. Department of Justice (“DoJ”) related to mortgage practices. Notably, as of Jun 30, the bank had €5.5 billion ($6.2 billion) in its litigation reserves - Zack's 
Update:  BofA/Merrill upgraded Deutsche Bank's credit to Neutral, not the equity

The Securities Law Blog: SEC Charges Anheuser-Busch With Violating FCPA and...

The Securities Law Blog: SEC Charges Anheuser-Busch With Violating FCPA and...: The Securities and Exchange Commission today announced that Anheuser-Busch InBev has agreed to pay $6 million to settle charges that it viol...