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How Ties.Network Aims to Help You to Find Secure Partners and Make Deals

September 14, 2017 Guest Author 0

Ties.Network is a blockchain-based social platform that connects prospective business projects and reputable professionals such as developers, marketers, advisors and other relevant people in the ecosystem. It is a decentralized business tool that can be used to recruit partners, employees, and volunteers. You can also sell products and services, enter joint deals based on smart … Continue reading How Ties.Network Aims to Help You to Find Secure Partners and Make Deals

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Why Aramco Delayed Its IPO

September 14, 2017 Cyril Widdershoven 0

The long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019. International news reports have stated that the Saudi government is currently putting together contingency plans for a possible delay to the biggest IPO ever. The listing of 5 percent of Saudi Arabia’s crown jewel, the world’s largest oil company Saudi Aramco, could bring in around $300-$400 billion, based on a valuation of Aramco at between $1.5-2 trillion. The cash generated by the IPO has already been earmarked for the coffers of the Saudi Public…

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Brazil’s Pre-Salt Areas Attract 17 Major Oil Bidders

September 14, 2017 Tsvetana Paraskova 0

As many as 17 companies have registered to bid next month in two rounds of exploration license awards in Brazil’s pre-salt layer, Brazilian Oil and Gas Secretary Marcio Felix said on the sidelines of an event on Thursday. Brazil is eager to award new exploration licenses in the most promising blocks in its pre-salt layer as it tries to boost its economy and attract more foreign investment. Before Felix gave the exact number of the different bidders in the two rounds, the country’s oil and gas regulator ANP had previously said that 10…

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Pentagon: US citizen fighting for Daesh surrenders in Syria

September 14, 2017 Middle East Monitor 0

An American citizen fighting for Daesh in Syria surrendered to US-backed fighters earlier this week and has been handed over to US forces, the Pentagon said on Thursday. The American surrendered to the Syrian Democratic Forces (SDF), a US-backed alliance of mostly Arab and Kurdish fighters, on or around Sept. 12. “The US citizen is being legally detained by Department of Defense personnel as a known enemy combatant,” Pentagon spokesman Major Adrian Rankine-Galloway said in a statement. Read More: Evacuated Daesh fighters reach Syria’s Deir al-Zor, pro-Damascus commander says It is not the first time an American citizen fighting for the group has been detained by US allies. In June, a Virginia man who traveled to Syria to become a suicide […]

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Are “Social Justice Warrior Trustees” Accelerating America’s Pension Collapse? (Hint: Yes)

September 14, 2017 Tyler Durden 0

A few days ago we highlighted the reckless efforts of the San Francisco Board of Supervisors to force their city’s pension managers to ignore their fiduciary duties and dump nearly $500 million worth of energy stocks.  Of course, the pressure to sell had nothing to do with financial projections, trading multiples or discounted cash flow analyses but rather was a blatant and irresponsible attempt to push the board’s political agenda irrespective of the ultimate financial consequences such actions might have to pensioners and tax payers (see: What Fiduciary Duty? San Fran Politicians Try To Force Pension To Dump $470MM Of “Fossil Fuel” Stocks).

But it’s not just San Francisco politicians who are increasingly pressuring pension mangers to ditch their fiduciary duties in pursuit of a liberal political agenda.  As columnist Ben Howe points out today in an op-ed published in the Washington Examiner, “Social Justice Warrior type pension fund trustees” are sacrificing returns for political agendas all across the country.

To make matters worse, some Social Justice Warrior type pension fund trustees are risking suboptimal returns by prioritizing political agendas over dollars and cents. If the economy falters even a little, that means your wallet will be raided if you live in a blue state where said Warriors are suiting up for battle.

 

It’s painful to even think of, but it’s likely that at some point in the next couple of years, the economy will slip. We’re currently in the third-longest economic expansion in the whole of US history (crazy and reality-disconnected as that sounds). It seems unlikely that that will continue indefinitely. Assuming it doesn’t, we can bet public pensions aren’t going to experience the high returns they did this year in 2018, or 2019, or 2020. And the Social Justice Warriors are going to make it worse.

 

New York City Public Advocate Letitia James has been calling for JP Morgan to sever financial ties with some private prison companies, because she doesn’t approve of how they make their money. And she’s threatening to use the City pension fund’s investments with JP Morgan to force them into severing those ties. That’s a purely-politically-motivated investment decision that could well impact the financial health of the city pension fund, meaning more taxpayer money having to prop it up, all because James thinks her political views are more important than profit assessments made by Jamie Dimon’s employees. James seems to have forgotten she has a legal duty to deliver the best financial results for the fund.

 

Out in Minneapolis, the City Council “asked city staff to explore ending the city’s relationship with Wells Fargo because of the bank’s investment in the Dakota Access pipeline.” California legislators are also mulling forcing divestment from firms involved with the Dakota Access Pipeline, at the same time they are being dinged for forcing CALPERS and the teachers’ fund to divest from coal stocks — just before a rebound in those stocks occurred.

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Adding insult to injury, the Los Angeles Daily News recently noted that a CalPERS study from October 2015 found that politically-motivated divestment had cost California pensioners, and therefore taxpayers, $8 billion in lost profits over a 15-year period.

Under the Public Divestiture of Thermal Coal Companies Act of 2015, the California Public Employees’ Retirement System and California State Teachers’ Retirement System were required to divest their coal holdings by July 1, 2017. Unfortunately for taxpayers, this divestment coincided with a strong rebound in coal stocks. As the Sacramento Bee reported, “Stocks for 13 of the 14 companies are worth more than they were a year ago when the pension fund was divesting from the industry.”

 

This is just the latest example of politically motivated divestment policies, which have also targeted tobacco companies, firearms manufacturers, private prison operators, companies that might compete with state and local government workers for contracts, and companies that did business with apartheid South Africa. This has often had a significant negative impact on pension investment performance. CalPERS’ divestments cost it approximately $8 billion over a 15-year period, according to an October 2015 report from Wilshire Associates, CalPERS’ main investment consultant.

Of course, when terrible decisions like these result in the inevitable collapse of America’s already failing pensions, these same politicians will be the first to take up a microphone and blame “millionaire, billionaire, private jet owners” for not “paying their fair share.”

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From Nakamoto to ‘HODL’: 5 Intriguing Facts About Iconic Bitcointalk Forum – CoinTelegraph

September 14, 2017 cody 0

CoinTelegraphFrom Nakamoto to ‘HODL’: 5 Intriguing Facts About Iconic Bitcointalk ForumCoinTelegraphWith over 4.5 mln posts, “Altcoin Announcements” is by far the most popular board on Bitcointalk, followed by “Bitcoin Discussion” with 1.1 mln posts and “Altcoin Discussion” with 0.98 mln posts. The “Altcoin Announcement” thread has seen a huge spike …

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Is The Sun Setting On The Solar Boom?

September 14, 2017 Nick Cunningham 0

The U.S. solar industry is expected to see its expansion significantly curtailed this year after installing record capacity in 2016, marking the first annual decline in installations for the industry. A new report from GTM Research and the Solar Energy Industries Association (SEIA) raises some question marks for the trajectory of the solar industry. In the second quarter, the U.S. installed 2.38 gigawatts of new solar PV. A decent performance, but with two quarters in the books, the industry is only on track to install 12.4 GW of new capacity in…

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