Tuesday, December 18, 2012

China's Real Estate Strong but Not Overheated

Tuesday, December 18th, 2012
By George Leong, B.Comm. for Profit Confidential

China?s Real EstateChina is beginning to show renewed growth. The country is focusing on stimulus spending and easy monetary policy in hopes of getting its economy back on track and driving its consumers to spend.

And while there has been talk of an asset bubble in China?s real estate market, my view is that the short-term risk is high, but there is excellent long-term growth potential in China?s real estate sector. (For my views on China?s retail sector, read ?Luxury Retailers Loving China.?)

Investment in the country?s housing market surged 61.7% from January to November, based on the data from the National Bureau of Statistics.

There are over 300 million middle-class consumers in China, and as a group, they are hungry for a lifestyle similar to middle-class consumers in the West. Real estate is a key goal for the Chinese.

Standard & Poor?s analysts believe the real estate market in China is stabilizing, with buyers returning while home prices continue to decline.

And in an ironic twist, at a time when California?s real estate market is struggling, the state?s California Public Employees? Retirement System (CalPers), a pension fund, announced it would be investing about $530 million in two new China real estate funds managed by ARA Asset Management, which is longer-term positive.

To play China?s real estate market, you can take the more conservative approach and buy The Guggenheim China Real Estate exchange-traded fund (ETF) (NYSE/TAO), which has a year-to-date return of 53.1% as of November 29. The fund holds mainly large value-oriented Chinese real state stocks.

TAO Guggenheim China Real Estate ETF stock market chart

Chart courtesy of www.StockCharts.com

To take a more speculative and potentially higher return opportunity, an emerging small-cap Chinese real estate company that I like longer term is Xinyuan Real Estate Co., Ltd. (NYSE/XIN).

Xinyuan is down from its 52-week high of $3.95 on April 3, 2012 and has outperformed the S&P 500 over the past 52 weeks.

XIN Xinyuan Real Estate Co. Stock market chart

Chart courtesy of www.StockCharts.com

Xinyuan buys land and develops large-scale, high-quality residential real estate projects that are targeted toward the growing middle class in China?s Tier 2 cities. The company looks for cities that are large and growing, with developed urban areas.

Targeted cities have above-average gross domestic product (GDP) growth and population growth, and they currently comprise strategically selected Tier 2 cities, including Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Chengdu, and Xuzhou. Combined, the populations of these cities total over 34.5 million people, according to Xinyuan.

Projects include multi-layer apartment buildings, sub-high-rise apartment buildings, high-rise apartment buildings, retail outlets, leisure and health facilities, kindergarten facilities, and schools.

Xinyuan also purchased a development site in New York City for $54.2 million via its U.S. development unit, XIN Development Group International.

Annual sales grew sequentially in each year over the past nine years. Sales grew from $12.8 million in 2002 to $688 million in 2011. Xinyuan has been profitable in seven of the last 10 years, including increases in the last three years.

Be advised that any stocks mentioned in this article are meant only for illustrative purposes and should not be construed as a recommendation.

VN:F [1.9.21_1169]

Rating: 0.0/10 (0 votes cast)

VN:F [1.9.21_1169]

Source: http://www.profitconfidential.com/real-estate-market/chinas-real-estate-strong-but-not-overheated/

oscar winners 2012 billy crystal oscars 2012 angelina jolie oscars chardon high school christopher plummer viola davis school shooting in ohio

TD, CIBC warn oilpatch running out of pipeline capacity | Energy ...

CALGARY ? Two major banks are warning that increased pipeline capacity is badly needed to bring Canadian oil to market.

In a report released Monday, TD Economics calls pipeline expansion a ?national priority.?

?Canada?s oil industry is facing a serious challenge to its long-term growth,? says the report.

?Current oil production in Western Canada coupled with significant gains in U.S. domestic production have led the industry to bump up against capacity constraints in existing pipelines and refineries.?

The report highlights four options to expand the market reach of Canadian crude: Asia via the West Coast, the U.S. Gulf Coast, Quebec and Atlantic Canada.

Of those, TD says the West Coast is the most economically feasible because of its short shipping distance and access to lucrative Pacific Rim markets.

Shipping crude to West Coast ports would cost about $3 per barrel, versus $5 to Montreal through the reversal of an existing Enbridge Inc. pipeline and $7 to the Gulf Coast through projects such as TransCanada?s Keystone XL project.

We assign no better than 50/50 odds that these pipes are built before the end of the decade

However, accessing the West Coast has some downsides ? namely vehement opposition to those projects on environmental grounds. There are concerns a spill from the pipelines themselves, or from tankers along the coast, could cause dire ecological harm.

?We assign no better than 50/50 odds that these pipes are built before the end of the decade,? wrote CIBC analyst Andrew Potter in a report Monday.

There are about 2.9 million barrels of long-haul pipeline proposals on the table out of Western Canada.

That seems like a lot before one considers that about a third of that is represented by Enbridge?s Northern Gateway proposed line to Kitimat, B.C., and an expansion to Kinder Morgan?s Trans Mountain line to the B.C. Lower Mainland.

And with CIBC?s forecast of annual growth of 100,000 barrels per day in conventional oil and 300,000 barrels of blended oilsands crude, the pipeline capacity is further pinched.

?Canada needs pipe ? and lots of it ? to avoid the opportunity cost of stranding over a million barrels a day of potential crude oil growth.?

Any day we have a hiccup in the system at all, differentials blow out

Potter said pipeline capacity out of Western Canada is fine for now, but ?substantial progress? must be made on this front in 2013.

?We estimate that pipeline capacity out of the Western Canadian Sedimentary Basin could effectively be full in the 2014 time frame, suggesting little room for error/politicking in bringing on new pipeline capacity.?

TransCanada CEO Russ Girling said in an interview Monday that the company?s Keystone oil system is currently ?chock-a-block full.?

?Any day we have a hiccup in the system at all, differentials blow out,? he said, referring to the increasingly volatile price gap between landlocked and seaborne crudes.

TransCanada has been looking to double the amount of oil that moves through Keystone and extend its reach into the Gulf Coast market, but the Keystone XL project has faced repeated delays.

There are concerns a spill from the pipeline could damage drinking water sources in the American agricultural heartland and increase U.S. reliance on so-called ?dirty? oilsands crude.

More and more crude volumes are being shipped by rail these days, and that?s not necessarily a good thing, said Girling.

?Railing is logistically more difficult. It?s more expensive. It poses more environmental risk. Yet, because of the constraint people are starting to do it in larger and larger and larger quantities,? he said.

?Society has got to make some choices here as to how they want the crude oil to move.?

Source: http://business.financialpost.com/2012/12/17/oil-industry-faced-with-serious-challenge-as-pipelines-fill-up-td-warns/

chronicle george lopez bedtime stories micron susan g komen kenyon martin kenyon martin

Education: A Pawn in Zimbabwe's Political Battles ? Nehanda Radio

By Farai Mabeza

KWEKWE ? Zimbabwean teachers are bearing the brunt of politically motivated violence as the education sector has become a key battleground for politicians? vying for the hearts and minds of the country.

Progressive Teachers Union of Zimbabwe secretary-general Mr Raymond Majongwe (right)

Progressive Teachers Union of Zimbabwe secretary-general Mr Raymond Majongwe (right)

The rural areas have particularly become a dangerous place for teachers as they face various acts of intimidation and violence. One such teacher is 39 year old Kennedy Mhuri who feels lucky to be alive to tell his story after two close calls.

As I talk to him about things that are of interest such as football the good sense of humour is evident and the jokes comes easily. We talk about soccer and typically he dismisses his beloved Liverpool?s poor form with a shrug pointing out that they do well against the big teams. It is only when the conversation shifts and I ask him to relate his experiences in the country?s explosive political environment that the laughs and the jollity evaporate.

There is a sudden intensity that comes upon his face and inescapable heaviness envelopes us, the shift in the atmosphere hard to miss. I hesitate before I proceed with the interview because it is clear we are entering deep waters.? The story is as chilling as it is fascinating.

Genuine tension coupled with apprehension grips his face as he relives his experiences. Mhuri did his training at Mkoba Teacher?s College in the central city of Gweru. It was at his first posting to Mudzi district in the politically charged Mashonaland region that his problems started.

He believes that he was singled out for his activities as the district chairman of the Progressive Teachers Union of Zimbabwe (PTUZ).

?There was suspicion that we were working with the Movement for Democratic Change and I had visits from state security agents who I think later verified I was involved in genuine labour activities because their interest in me began to wane. However I do not think this diminished attention was shared by the local militia and party structures who continued to take a keen interest in my activities,? he explained.

He says he received anonymous phone calls advising him to leave quickly as his life was in danger, tips he suspects to have been from state security agents and which he promptly followed. He hastily packed his belongings and left Mudzi.

Immediately after his departure his house was turned into a base for the local militia who went on to camp there for more than two months spreading terror and mayhem in the area.

This is just one of many cases of schools that were turned into bases where militia and local youths camped, according to the PTUZ. Even now after the terror of the June 2008 election has somewhat dissipated some graduates from the infamous Border Gezi National Youth Service who acted as local commanders still occupy teachers? houses as a present reminder to keep educators in line.

Interestingly it is not only the teachers who face such victimisation but it is extended to their families as well. A woman from Chirumhanzu district also in the Midlands area who has two of her children working as teachers said she has had to endure threats from ZANU PF youths.

?They say my children are working for the opposition?, she said.

PTUZ says they know why teachers have become deliberate targets in the political battlefield in the country.

?The task of preparing the young for their future role in society makes teachers the most important socialising influence in the life of a citizen. The education system and by implication, teachers who drive this system has a profound influence upon the wider society and the nation?, the labour body explained in a report titled Political Violence and Intimidation against Teachers in Zimbabwe.

After fleeing Mudzi, Mhuri tried to look for a new school at the same time wanting to remain as incognito as possible.

?I was literally in hiding?, he says. He later found a school just outside Kwekwe, a city with a population just under 100 000 located about 70 kilometres from Gweru where he initially trained.

Not long after that however, trouble resurfaced.

In the area he was now working there was also a network of state agents and party activists who were just as determined to spread fear amongst the teaching community.

It was at a rally at township known as Malamlela that his past caught up with him as he believes information was passed on from his ill-fated stay in Mudzi. One of the local women stood up at the rally and informed the meeting with the local Member of Parliament present that there was a new teacher at the school who was denigrating the President.

Mhuri was identified by name and he was quoted as allegedly telling his pupils that ?Mugabe is President by default?, in apparent reference to the June 2008 poll.

He strongly denies these allegations saying all he wanted to do now was to maintain as low a profile as possible and concentrate on his work as he did not want a repeat of his previous experience.

Word got to him quickly enough about what had transpired and in an attempt to nip the matter in the bud he together with the headmaster approached the local party leadership who, not grasping the seriousness of the matter, were dismissive saying there was no action that was being taken against the teacher.

With his past experiences still fresh in his mind they decided to approach the party leadership in Kwekwe some of whom were known to the school headmaster just to make sure things would not boil over and give assurances that he was not involved in political activities.

As fate would have it, the headmaster got to the Kwekwe offices to find party officials from the school area who had been asked to accompany soldiers to the school to ?identify the alleged teacher and his house?.

The officials however could not do this as they said they did not know the teacher in question and neither did they know his house. The headmaster took advantage of the lapse created to inform Mhuri that things were escalating.

He panicked and immediately fled covering a distance of 20 kilometres on foot leaving all his belongings behind. His unwanted guests later arrived after he was gone. He only got reunited with his property through some of his colleagues who took the trouble to transport it to Kwekwe as their own.

PTUZ put him into contact with their lawyers and they prepared themselves for any eventuality and he again went into hiding. Mhuri says he is now at another school concentrating on educating the next generation.

He says the worst part about his life right now is the uncertainty caused by a suspicion that he might still be under surveillance. It is this constant state of vigilance that he finds most stressful.

PTUZ secretary General Raymond Majongwe confirmed Mhuri?s account and said the story was not an isolated one.

?We still fear for his safety. Our members and activists have been made to suffer for their convictions and it is quite clear from the time of our formation that teachers from our labour movement have endured systematic victimisation. It is therefore not out of place that people like Kenny were identified?.

Majongwe said that it is unfortunate that members of his movement have been and continue to be labelled as pro-MDC after the party has publicly disowned the PTUZ.

?In fact, after the formation of the Government of National Unity the MDC-T went as far as labelling us pro-ZANU PF. We have consistently denied allegiance to any political party. As far as we are concerned we are independent in outlook as well as in action?.

The PTUZ secretary general says the future for teachers in Zimbabwe continues to be unclear.

?No one is safe in this country. When people?s political turf is threatened people know for a fact that ZANU PF reacts. A lot of these guys are still being monitored. There are people who are interested in what they are doing.

?With all this talk about elections we know that as the political temperature goes up ultimately the education sector will be targeted?.

PTUZ said teaching has increasingly become a dangerous profession in Zimbabwe.

?Significantly more teachers from the Mashonaland Provinces were unwilling to disclose their political party preferences, were forced to vote in virtually all elections since 2000, and reported being a victim of political violence during the 2000 Parliamentary, the 2002 Presidential election, and 2008 Presidential Run-off.

?Total violations were significantly more frequent for teachers from the Mashonaland Provinces, with assault, indecent assault, sexual violence, threats, disappearances, and extortion the most significant violations,? PTUZ said in its report.

In the study by the Research and Advocacy Unit it is recommended that education be made part of the national healing process.

?The process of national healing, if it is ever going to take off meaningfully, should have a thematic area dealing with the education sector in order to restore the social bond between teachers and communities which has been weakened by recurrent election violence and politicisation of the public service?.

Mhuri looks forward to the future with hope but his experiences will haunt him for life. Nehanda Radio

To help maintain editorial independence Nehanda Radio relies on donations from readers like you. No donation is too small or too big. Help by donating to fund our operations.

Source: http://nehandaradio.com/2012/12/17/education-a-pawn-in-zimbabwes-political-battles/

Karen Klein Colorado fires supreme court summer solstice Summer Solstice 2012 Waldo Canyon fire nba finals

Google UK boss offers 'unreserved apology' for delayed Nexus 4 orders

Android Central

Dan Cobley says pre-Christmas deliveries on track for this week, offers shipping refund for late orders

As we've reported in great detail over the past month, customers hoping to pick up the Nexus 4 directly from the Google Play Store haven't had the easiest time ordering the device. Even after dealing with a tumultuous ordering process, some in the UK have found that their orders had missed the shipping window they'd been given by Google Play.

As a result, some disgruntled customers decided to go straight to the top to get answers, reaching out to Google UK Managing Director Dan Cobley on his Google+ page. Today Cobley has responded with an update on the situation, an apology to those affected, and a shipping refund for those whose orders had missed the quoted 3-5 day window.

In the Google+ message, Cobley also addresses the subject of stock levels, saying supplies from Nexus 4 manufacturer LG have been "scarce and erratic." The first wave of Nexus 4 stock sold out in under an hour, and the second wave was back-ordered by over one month in under a day.

Here's Dan Cobley's message in full --

Dear all

I know that what you are going through is unacceptable and we are all working through the nights and weekends to resolve this issue. Supplies from the manufacturer are scarce and erratic, and our communication has been flawed. I can offer an unreserved apology for our service and communication failures in this process.

For those that originally received a 3-5 days shipping estimate, your orders are now in process for fulfillment. You can expect an email notification early this week which will include tracking information. Although you will be initially charged in full, you will receive a credit for the shipping charge soon after.
For others that received pre-Christmas shipping estimates, we anticipate processing your orders for fulfillment this week.

I realise that the people who ordered the Nexus 4 so early are among our most committed and loyal users and we are doing all we can to put things right.

Sorry again.

Dan?

So there's good news for anyone with a Nexus 4 order due before Christmas, and customers experiencing delays might be reassured that Dan Cobley is taking charge of the situation personally.

If you placed a Nexus 4 during the second wave of stock, let us know how you're getting on down in the comments.

Source: Google+; via XDAEurodroid



Source: http://feedproxy.google.com/~r/androidcentral/~3/bbFE-nj3JO4/story01.htm

columbine breaking news Google News Newton les miserables virginia tech shooting Bbc News

Monday, October 1, 2012

Momentum shifts to Democrat in tight Wisconsin Senate race (reuters)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, News Feeds and News via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/252172396?client_source=feed&format=rss

louis oosthuizen phil mickelson 10 year old gives birth c. difficile carmelo anthony nurse jackie nurse jackie

For Romney, wealth means both freedom and a trap (Washington Post)

Share With Friends: Share on FacebookTweet ThisPost to Google-BuzzSend on GmailPost to Linked-InSubscribe to This Feed | Rss To Twitter | Politics - Top Stories Stories, RSS and RSS Feed via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/252059674?client_source=feed&format=rss

big east jesse james pearl harbor day discovery channel lea michele michael buble michael buble

HDNER: Conditions to improve relations with #Israel, #Armenia remain the same: Erdo?an http://t.co/iiqsIaoa #Turkey