NELSON MANDELA TURNS 90 Today !

                               

 

 

HAPPY BIRTHDAY to “MADIBA” A TRUE HERO …

                     

When I posted the original article more than a month ago, I somewhat predicted that SPRINT NEXTEL was next to be acquired by a foreign entity with a lesser market cap, possibly from an Emerging Country. Today there is talk of South Korea Telecom (SK Telecom) is about to buy Sprint Nextel.

Below is my previous post on the issue of U.S companies that are now too vulnerable to Europeans, Asian, African corporations with more cash and valuation due to a weak dollar.

From 06/13/08

THE DOLLAR IS WEAK, US INVESTMENT BANKS ARE EXPOSED, OIL PRICES ARE CATCHING UP, IT’S TOUGH TO BE AN WHOLLY OWNED AMERICAN COMPANY LATELY

Nobody saw this coming, not even the best hedge funds could have anticipated this, but it is really happening: European, Chinese, African, Middle Eastern, South American companies are all embarked on a buying spree of American assets. Whether it’s by providing straight cash to fill liquidity gaps, or using trade balances to purchase US bonds, the take over is in full effect !

Earlier this week when InBev a Brazilian brewer ( Brussels Headquartered) made a bid to purchase the largest beer brewer Anheuser-Busch (budweiser).But budweiser is an American Icon and that offer made a lot of noise in Washington DC. InBev is now an “enemy” of conservatives American think-tank lobbyists who threaten to petition and have the government block the deal. The Governor of the Hometown State of Anheuser Busch is looking to use executive powers to keep Budweiser American owned.

A couple of weeks ago, I posted about the MTN deal with the Airtel Indian group. After looking at the balance sheets of the African Company, M&A specialists backed an opposite offer from MTN to Bharti (indian Cellular operator). Now MTNis the buyer and if one follows closely the situation, it won’t be a surprise if MTN next turn their eyes on American telecom companies. SPRINT for example has lost so much value that its fair to say shareholders would be interested in an offer if the price is right.

The Dubai port Deal was shut down not because it didn’t make sense financially but because it had too much political fallout. Even the President intervene to calm his own party, they still said Hell to the No !! But Oil producing gulf states are sitting on too much money and I knew it wouldn’t be long before they purchased another American Staples. Sure enough, The Abu Dhabi Fund bought a stake in the Chrysler Building. We now learned that Italians purchased another Manhattan landmark: The Flat Iron Building. Valter Mainetti is the new owner of a majority stake. As if that wasn’t enough, Lehman Brothers disclosed that were about to receive a new capital injection from the Gulf States ! Let’s not forget the previous cash injections from Abu Dhabi into Citi bank.

The money and the debt leverage is just not there in the US anymore to fund Large acquisitions and control merger talks across the globe.

 

S/ce: FT, NYT,YAHOO, TIMES, WSJ

                    

Les déclarations du president de Citigroup à new york vendredi suscitent des interrogations sur l’avenir de Citibank au Cameroun. 

Apres la liquidation de leur portefeuille “crédit à la consommation” France pour $7,8 milliards de dollars, le CEO du groupe Citi Mr Pandit ainsi que des personnes proches du directoire déclaraient que cette vente exemplifiait les efforts entamées depuis l’arrivée du nouveau président pour remettre Citigroup sur les rails.

 

Ces memes sources préconisaient la fermeture prochaine ou la cession de leur patrimoine non-perfomant (non-leader) dans les pays Africains afin de mieux se concentrer sur la nouvelle orientation stratégique. Une orientation qui pour l’instant aspire à la re-capitalisation du groupe ainsi que l’assainissement du passif

 

Une observation de Citibank Cameroun démontre la prepondérance du corporate finance dans ses activités. Bien que Citi Cameroun soit passé de branche à succursale pour des raisons que je présume d’ordre juridiques et fiscales, la concurrence des « legacy banks » à capitaux Francais demeure tres rude dans ce secteur avec comme clients: l’Etat Camerounais, les organismes internationaux, les grandes industries et societés privées. 

 

Il s’avere que Citibank n’est pas leader vis à vis de ses pairs (Sgbc, Bicec, Scb-Lcl) dans la corporate finance au Cameroun voire en Afrique Centrale. Pourtant, la potentielle fermeture de cette filiale ne devrait pas spécialement affoler le grand public tant il est vrai qu’en Afrique en général, Citibank est resté éloigné du Retail Banking traditionnel.

 

Toujours est-il que les jours de Citibank au Cameroun et en Afrique francophone sont comptés ! Le sursis commence…

  

THERE IS NOW A REAL RISK OF A POTENTIAL BANK RUN SOMEWHERE IN THE U.S BANKING SYSTEM !!!

In the Afermath of the Indymac Bank collapse on Friday, many fear that some banks might witness a run for deposits as customers reach to get their savings out in fear of further banks collapses. This is due to the fact that many banking clients were not aware that the term “FDIC Insured” only meant: “Up to $100K “. The remaining part cannot be recovered (unless the bank assets sale generates enough liquidity). This leaves us with a spike in the general public looking for more information about their savings, checkings or money-market accounts. It’s interesting to know for example that if you have multiple accounts in one bank with each holding less than 100k, you also need to make sure that the total amount in all those accounts (combined) with that particular institution is less or equal to $100K. Otherwise, your money is still not safe (that is, if anything was to happen) !

It doesn’t help that the Fed and other banking regulators now admit that there is a potential for more potential banking failures in the horizon but the FDIC would not be able to handle all of’em at the same time.

The next 72 hours would prove to be crucial as regional banks would be first in line to reassure not only depositors but investors as well.

                   

LA SUITE DETAILLEE DE LA BATAILLE RANGEE POUR LE CONTROLE DU MARCHE LUCRATIF DE LA VENTE DES MEDICAMENTS EN AFRIQUE ( Lire post precedent sur le sujet ici )  

Afin de bien situer à quels niveaux les responsabilités se situent, je prendrais l’exemple concret de L’Ordre des Pharmaciens du Cameroun et du marché que represente la ville de Douala.

Loin d’etre une anecdote qui se repete ailleurs, le cas qui va suivre est une raison de plus d’etre pessimiste quant à l’intention de l’Ordre de rendre service aux populations:

Le quartier Bonapriso a Douala est l’un de ceux dont le revenu moyen par resident est au dessus de la moyenne. Ce qui implique également que la propension marginale à consommer y est elevé (du moins par rapport à d’autres quartiers dans les environs). Cette grande propension marginale à consommer est une des raisons pour lesquelles des PME specialisées dans les services pilullent et font de bon revenus. Tout ceci pour expliquer pourquoi obtenir une authorisation d’ouvrir une officine a Bonapriso est synonyme d’un sesame pour de nombreux pharmaciens. Pendant qu’il est presque impossible pour un nouveau propriétaire d’obtenir le droit d’exercer a Bonapriso, les “anciens” se font la “passe”. Un propriétaire d’officine qui a assez de power dans le cadre de L’Ordre des Pharmaciens du Cameroun (OPC) peut arriver à changer la location géographique de sa pharmacie ! Ce qui en d’autres termes enleve le droit d’ouvrir dans le meme quartier jugé juteux à un pharmacien “bleu”. Pendant combien de temps encore ces blocages dignes d’Aristocrates vont perpetuer le Status-Quo chez nous?

Dans l’une des reactions de l’article qui a precedé celui-ci, il m’a été demandé de mieux clarifier le fonctionnement de l’OPC. Il ne me revient pas de le faire parce que les regles et le fonctionement de l’OPC ne sont pas en proces ici. Il était important de soulever une autre catégorie professionelle qui au lieu de mieux servir les besoins du marche, se renferme dans une sorte de Lobby dont les interets financiers des membres les plus influents passent avant tout ! 

La seule solution à mon avis est de laisser la place à la libéralisation dans ce secteur> Surtout lorsque l’on sait que la grande majorité des besoins en produits pharmaceutiques est liée aux médicaments à prescription médicale facultative (PMF). Et le seul moyen pour eux de maintenir le controle sur ce marché est de verouiller le secteur et de statuer en conseil à propos des marges bénéficiaires (On est ou la? )!!!!

Au final, l’ouverture du marché maintiendra les prix à un niveau acceptable pour tous et tout pharmacien desireux d’exercer pourra avoir la possibilité de le faire, soit en tant que propriétaire, soit en tant que Salarié de la filiere. Cette génération de Camerounais aura de plus en plus de mal à accepter ce systeme désuet de priviligiés tant en ce qui concerne les pharmaciens que la profession d’Avocat (pour les diplomés en droit)

                      

 

Today, the C.E.O of Transcorp(Nigeria) Tom Iseghohi was interviewed by Maria Bartiromo on CNBC about the potential returns of Investments in Africa.                  Click here for the video

The potential for growth in Africa remains on the agenda of many institutional investors in the US. The GDP forecast from african countries was still on the upstream despite the global recession:

-Angola 16% projected rise in GDP, Nigeria 9.1% , Cameroon 4.5% (IMF data).

The rise in commodities prices made Africa with huge natural resources a power player in the global scheme. Add to this, the fact that the local sectors are also booming. Telecommunications as Iseghohi mentioned is currently active as proven by the latest moves in the sector (here..). The Infrastructure sector is a guaranteed revenue stream because the current debt cancellation program redirects all debt schedules to infracstrures projects in the region.

For all my friends out there.. This is NOT for KIDS !

                                

From WSJ

“Abu Dhabi businessman Saeed Khouri made headlines and the Guinness Book of World Records when he paid $14 million for the tag simply sporting a “1.”  His cousin, stockbroker Talal Khouri, paid $9 million for “5″ — the second-largest sum ever paid for a license plate.”

Just in case you are still unsure, let me write it again: $14Million for a freakin’ LICENSE PLATE !!! If this is not of the craziest way of spending dumb money, I don’t know what is..

 

BELOW IS THE VIDEO OF THE FAMOUS AUCTION of the “1″ LICENSE PLATE that went for $14 millions

 

Ladies and Gentlemen, we live on the same planet, but in different worlds ( that’s for sure !!)

S/ce: WSJ

   

 Isaac Kwabena Winner of The Apprentice Africa !!!

Isaac won the competition in front of many other that initially appeared to be better profiled, and candidates with more depth. But it all came down to performance on the field on all the tasks and he was the clear winner !

PROFILE OF THE WINNER:

Isaac, Accra Ghana

Isaac Kwabena Dankyi-Koranteng was born 30 years ago in Ghana. Married with one child, Isaac personifies responsibility and dignity. Quiet and calculated, he comes to the Apprentice Africa House like a business gladiator, casting very watchful “African eyes” on his fellow contestants, listening more and speaking less. With a Bachelor’s degree in Publishing studies from Kwame Nkrumah University of Science and Technology, Ghana, and an MBA from Wuham University, China. His core values to success are professionalism, integrity, honour, and passion. As a sales manager, Isaac considers himself a team player, who is bringing a vital success tool to The Apprentice Africa. Selling is a great motivating factor that drives the profitability of any business or product, and since he considers himself a genius in devising functional selling techniques, he’s certain that victory will smile on him in the end.

 

Check out the rest of the contestants HERE…

          

      

HERE’S A LIST OF THE BLOGS AND SECRET WEBSITES THAT ARE THE MOST HATED BY CORPORATE AMERICA !!

Courtesy of Conde Nast’s Portfolio.com

#1 Wikileaks, which lets whistle-blowers stealthily publish government and corporate leaks without fear of being traced (the site uses encryption technologies and “cover” domains to hide the tracks of people who post to it), was publicly launched in early 2007 but remained under the radar until this year, when it drew the wrath of Swiss bank Julius Baer. After documents were posted that purport to show how the bank’s Cayman Islands branch helps wealthy customers hide assets and launder money, Baer cried foul with a cease-and-desist letter demanding the documents be removed. When that failed, the bank took the site’s U.S.-based domain name registrar to court and briefly got the site knocked offline (mirror sites hosted in other countries remained online, however). But public furor caused the judge to reverse his order.

Wikileaks was launched by dissidents, journalists, and technologists from several continents. More than a million documents have been posted so far—most related to the military (such as operation manuals for the Guantánamo Bay and Abu Ghraib prisons)—but corporations also have much to fear as the site’s popularity grows.

#2 Mini-Microsoft (the name refers to the leaner, more efficient company that the anonymous Microsoft employee who started the site wishes his employer would become) has been publishing a demoralized rank-and-file view of the company since 2004.
He (he’s at least admitted to being a “he”) skewers bad managers and offers pointed tips for “defragging the firm, while fellow Microsofties weigh in with their own anonymous barbs. Recent comments ripped the proposed Yahoo takeover as Steve Ballmer’s folly, and disclosed embarrassing details about the company’s ad service, aQuantive, which has been struggling to compete with Google AdSense. An insider hinted that problems with the service nearly led the company’s own MSN service to take its business elsewhere.

#3 Farmers Insurance Group Sucks Poor design and a plethora of exclamation points might make this gripe site easy to dismiss, but Rene Guerrero, the Spokane, Washington, computer programmer behind Farmers Insurance Group Sucks, has been the bane of the large auto and homeowner insurance provider for five years. Guerrero started the site after his wife was involved in an accident with a Farmers insuree and felt they were insufficiently compensated. He called his site Avoid Farmers Insurance and hosted it on his Comcast I.S.P., but when he later wanted to move it to its own site, he found that Farmers had preemptively registered AvoidFarmersInsurance.com, as well as the .net and .org versions of it. To keep him from evangelizing his discontent, Farmers Insurance sued Guerrero in 2005 for breach of trademark and damage to its business, but lost.
Guerrero’s site collects tales of shady Farmers agents, tracks litigation against the company, and provides insider testimonials, such as one from former Farmers claims adjuster Robert Dietz who says he was forced to use software that automatically cut 20 percent from every claim.

#4 Wal-Mart Watch, which has waged a relentless campaign against the giant’s employment and environmental practices since 2005, is one of the sharpest. Run by a coalition of unions, environmentalists, and others, the group organizes nationwide protests and lobbies for legislation to force the company to increase worker pay. In 2005 the group obtained an embarrassing memo written by a Wal-Mart executive saying the company could control health care and 401(k) costs by hiring part-time and younger workers, and adding physical labor to jobs to discourage unhealthy workers from applying for them. The group also published confidential postings from the company intranet showing Wal-Mart C.E.O. Lee Scott sniping at a store manager who had the audacity to ask why the company didn’t provide medical retirement benefits to employees.

#5 AppleInsider & MacRumors 

Apple has had its share of rumor sites run by rabid techies eager to release the latest info on the company, including new product releases and corporate strategy. The best-known of them was Think Secret, started by Nick Ciarelli back in 1999 when he was 13. He uncovered secrets like details on the Mac mini before it came out in 2005. Apple subsequently sued Ciarelli for revealing the information about the Mac mini and other trade secrets, and the case was finally settled at the end of 2007, with Ciarelli agreeing to shut the site down.
Today, AppleInsider and MacRumors are two of the most active Apple-info sites, publishing news and rumors about upcoming Apple products and company strategy. AppleInsider (along with Think Secret) was subpoenaed by Apple in a 2004 case to unmask the source for confidential information about an upcoming music product codenamed “Asteroid.” The site was also sued by Adobe in 2000 for releasing details about early versions of Photoshop and another product; the two parties reached a confidential settlement in 2001. MacRumors, meanwhile, has tens of thousands of members and over five million posts in its forum

Also Notable from Portfolio ranking: Homeowners for a better building, The Brenda Priddy’s site

 

Exclusively from www.portfolio.com

                     

THE DOLLAR IS WEAK, US INVESTMENT BANKS ARE EXPOSED, OIL PRICES ARE CATCHING UP, IT’S TOUGH TO BE AN WHOLLY OWNED AMERICAN COMPANY LATELY

Nobody saw this coming, not even the best hedge funds could have anticipated this, but it is really happening: European, Chinese, African, Middle Eastern, South American companies are all embarked on a buying spree of American assets. Whether it’s by providing straight cash to fill liquidity gaps, or using trade balances to purchase US bonds, the take over is in full effect !

Earlier this week when InBev a Brazilian brewer ( Brussels Headquartered) made a bid to purchase the largest beer brewer Anheuser-Busch (budweiser).But budweiser is an American Icon and that offer made a lot of noise in Washington DC. InBev is now an “enemy” of conservatives American think-tank lobbyists who threaten to petition and have the government block the deal. The Governor of the Hometown State of Anheuser Busch is looking to use executive powers to keep Budweiser American owned.

A couple of weeks ago, I posted about the MTNdeal with the Airtel Indian group. After looking at the balance sheets of the African Company, M&A specialists backed an opposite offer from MTN to Bharti (indian Cellular operator). Now MTNis the buyer and if one follows closely the situation, it won’t be a surprise if MTN next turn their eyes on American telecom companies. SPRINT for example has lost so much value that its fair to say shareholders would be interested in an offer if the price is right.

The Dubai port Deal was shut down not because it didn’t make sense financially but because it had too much political fallout. Even the President intervene to calm his own party, they still said Hell to the No !! But Oil producing gulf states are sitting on too much money and I knew it wouldn’t be long before they purchased another American Staples. Sure enough, The Abu Dhabi Fund bought a stake in the Chrysler Building. We now learned that Italians purchased another Manhattan landmark: The Flat Iron Building. Valter Mainetti is the new owner of a majority stake. As if that wasn’t enough, Lehman Brothers disclosed that were about to receive a new capital injection from the Gulf States ! Let’s not forget the previous cash injections from Abu Dhabi into Citi bank.

The money and the debt leverage is just not there in the US anymore to fund Large acquisitions and control merger talks across the globe.

 

S/ce: FT, NYT,YAHOO, TIMES, WSJ