Sunday, July 25, 2010

NYTimes: Britain Plans to Decentralize Health Care

From The New York Times:

Britain Plans to Decentralize Health Care

The new government's plan would be the most radical reorganization of the National Health Service since its inception in 1948.

http://nyti.ms/aoFLg6

Get The New York Times on your iPhone for free by visiting http://itunes.com/apps/nytimes


Thank You,

Kenyatta Lovett
770-601-7441

Sent from my iPhone

Friday, July 16, 2010

Market Failures

Your thoughts?

Check out this video on YouTube:

http://www.youtube.com/watch?v=VHFIbfUi5rw&feature=youtube_gdata


Thank You,

Kenyatta Lovett
770-601-7441

Sent from my iPhone

Saturday, July 10, 2010

Check out this product on Wired.com

Hello,

I found this product review at Wired.com and want to share it with you:
PhonePhlash  
http://www.wired.com/reviews/product/phonephlash?mbid=wir_iphone_prodrev_10

For more reviews from the editors of Wired magazine and Wired.com, visit: http://www.wired.com/reviews

I found this review using the free WIRED PRODUCT REVIEWS iPhone app, which lets you browse product reviews on the go with an iPhone or iPod touch. For more information, go to:

http://www.wired.com/iPhone


Thank You,

Kenyatta Lovett
770-601-7441 

Sent from my iPhone

(BN) Apple Opens Second Store in China to Spur Sales in Fastest-Growing Economy

Bloomberg News, sent from my iPhone.

Apple Opens Shanghai Store to Spur Sales in China

July 10 (Bloomberg) -- Apple Inc. opened its second China store today as the maker of iPhones and iMacs seeks to catch rivals including Nokia Oyj and Lenovo Group Ltd. in the fastest-growing major economy.

Several hundred people lined up outside a 40-foot cylindrical glass wall that contains the Apple logo at the 1,500-square-meter (16,000-square-foot) store in the Pudong district of Shanghai, China's financial hub, before it opened at 10 a.m. local time.

"Apple stands for a lifestyle," said a 27-year-old salesman who called himself "Penguin," from the northern Chinese province of Jilin, more than 2,000 kilometers (1,243 miles) from Shanghai. He waited as the first in the queues for almost 70 hours.

Apple is expanding its network to reach more customers in China, where its sales trail Nokia and Lenovo, and said this week it plans "many" more Apple stores for China. The company's first China store opened in Beijing in July 2008.

The products are "quite special," said Zhu Chenqi, a 23- year-old administrative secretary who has spent 30,000 yuan to 40,000 yuan ($4,429-$5,906) on Apple products. "In the first place you would be caught by its look and then you would be impressed by its easy applications."

While the store attracts a variety of customers from teenagers to grandfathers, most visitors are well-dressed and in their 20s and 30s, like most of the 175 vendors at Shanghai Apple.

More than 80 percent of the vendors have university degrees and some of them were lawyers and teachers, local media reported.

Unlicensed Distributers

Unlicensed distributors sold more than 2 million iPhones on a so-called gray market, according to Sandy Shen, an analyst at Gartner Inc. in Shanghai. China Unicom (Hong Kong) Ltd., the only authorized Chinese carrier offering the smartphone, sold fewer than 1 million, she said.

"The conditions are not in place for Apple in China at the moment, as it doesn't have the sales channels and distribution," said Aloysius Choong, an analyst at research firm IDC in Singapore. "The reports of the gray market activities for Apple's products in China shows there is good inherent demand for them."

The iPhone 3G S, Apple's top model, sells for 6,999 yuan in China Unicom's stores, according to the carrier's website. Chinese consumers can buy the smartphone for less from grey market vendors, Shen said. The same model costs $299 with an AT&T Inc. plan in Apple's online store in the U.S.

Nokia, Lenovo

Nokia's retail network in China comprises more than 100,000 outlets, said Cherry Gong, a China-based spokeswoman at the company. Lenovo, maker of Thinkpad laptops, has more than 10,000 retail outlets in the country, said spokesman Jay Chen.

Smartphone shipments may increase 50 percent to 26 million this year in China, where Nokia is the market leader, IDC's Choong said. Lenovo is the biggest personal-computer maker in China, according to IDC data.

Cupertino, California-based Apple overtook Microsoft Corp. as the world's most valuable technology company in May after gaining sales in the U.S. and European consumer electronic markets. The company's shares have gained 23 percent this year, compared with a 3.3 percent decline by the benchmark Standard and Poor's 500 Index.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone


Thank You,

Kenyatta Lovett
770-601-7441 

Sent from my iPhone

(BN) Bank of America Tells SEC That $10.7 Billion of Trades Wrongly Classified

Bloomberg News, sent from my iPhone.

Bank of America Says Trades Were Wrongly Classified

July 10 (Bloomberg) -- Bank of America Corp., the largest U.S. bank by assets, said it wrongly classified $10.7 billion of short-term repurchase and lending transactions as sales from 2007 to 2009.

Bank of America said the inaccuracies aren't material, according to a letter released yesterday from the U.S. Securities and Exchange Commission. In the document, the SEC cites an April 14 letter it received from the company.

Addressed to interim Chief Financial Officer Neil Cotty, the SEC's letter asked the bank to disclose whether the transactions were intentionally mislabeled, and to prove that the trades were immaterial. The Charlotte, North Carolina-based bank said in the April letter that it stopped the transactions after the first quarter of 2009, the SEC said.

The SEC sent letters to finance chiefs at about two dozen firms in March asking whether they employed accounting strategies like those at Lehman Brothers Holdings Inc. The bankrupt securities firm was accused of using repurchase agreements called Repo 105s to move assets off its balance sheet to hide leverage.

In a response to queries from the SEC, the bank said it did an "extensive review" of repurchase agreements and similar transactions and didn't find more errors. The mistakes didn't affect credit ratings or management compensation, hide any failure to meet analysts' consensus estimates, mask other trends or put the bank out of compliance with loan and capital requirements, the bank said.

Roll trades

The comment letters to the SEC followed previous bank disclosures that "certain sales of agency mortgage-backed securities should have been recorded as secured borrowings rather than sales," bank spokesman Jerry Dubrowski said. "The transactions did not have a material impact on the company's balance sheet or earnings."

The transactions involved six so-called dollar-roll trades completed during 2007, 2008 and 2009, according to the bank's filing. Bank of America was run by Chief Executive Officer Kenneth D. Lewis at the time.

The bank, now led by CEO Brian T. Moynihan, transferred mortgage-backed securities to a trading partner with the idea of receiving different securities later and classifying the deals as sales, the Wall Street Journal reported yesterday. The securities the bank received were similar to those it got rid of, meaning the transactions can't be considered sales, the newspaper said.

To contact the reporters on this story: Dakin Campbell in San Francisco at dcampbell27@bloomberg.net David Mildenberg in Charlotte at dmildenberg@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone


Thank You,

Kenyatta Lovett
770-601-7441 

Sent from my iPhone

NYTimes: Wall St. Hiring in Anticipation of an Economic Recovery

From The New York Times:

Wall St. Hiring in Anticipation of an Economic Recovery

The shift underscores the remarkable recovery of the biggest banks and brokerage firms since Washington rescued them in the fall of 2008.

http://nyti.ms/aP6b1z

Get The New York Times on your iPhone for free by visiting http://itunes.com/apps/nytimes


Thank You,

Kenyatta Lovett
770-601-7441

Sent from my iPhone

Friday, July 02, 2010