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Source: http://tecnoculturaaudiovisual.com.br/?p=8561

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Echo Ent. Picks New CEO; Aussie Gambling Declines Except Online ...

Steven Stradbrooke
December 12, 2012
No Comments

Australian casino operator Echo Entertainment has reportedly selected non-executive director John Redmond as its new CEO. Redmond, an American who was once CEO of MGM Grand Resorts, was added to Echo?s board just over a year ago. Redmond is expected to take over at the end of the month from exiting CEO Larry Mullin, who formerly worked at the Borgata in New Jersey. It?s been a turbulent year for Echo execs, with chairman John Story having resigned this summer after (a) presiding over a scandal involving the former boss of Echo?s Sydney casino The Star and (b) getting into a pissing match with Crown Ltd. boss James Packer, who holds 10% of Echo shares and has applied to boost that stake to 25%.

ECHO V. CROWN SYDNEY WAR OF WORDS CONTINUES
Packer may never follow through on that bid to up his Echo stake now that Crown?s bid to construct its own Sydney casino is proceeding apace. Crown?s plans have drawn fresh criticism from Echo execs, who currently enjoy a monopoly on the Sydney casino business set to expire in 2019. The Daily Telegraph quoted Echo CFO Matt Bekier saying Australia was ?a mature gaming market. If you cut the gaming earnings too many ways you can?t invest in iconic developments and the non-gaming and tourism infrastructure you really need to create a reason for people to show up. If the purpose is to increase tourism and bring international tourists to a district, we think a one-casino policy best delivers that outcome.?

Packer fired back at Bekier?s comments, dryly noting that it was another example of the ?small-minded thinking that has held Sydney back ? Outbound tourism from Asia, and in particular China, is exploding ? In the year 2000, just over 10m Chinese people traveled abroad. This number rose to 70m last year and is now estimated to reach 100m by 2015 ? Sydney has to improve its tourist offering if we?re going to take advantage.? For what it?s worth, both The Star and Packer?s casino in Melbourne made the top-10 of Australian residents? favorite locations to check-in via Facebook. (Number one? The Melbourne Cricket Ground.)

AUSTRALIA GAMBLING MARKET DECLINES, BUT ONLINE GROWS
Bekier may have had a point about the maturity of Australia?s gaming market, at least in terms of its domestic consumers. A Roy Morgan Research study showed total spend on all forms of gambling in the first nine months of the year fell $1.6b to $16.9b. That?s well off the $20b spend in the same period in 2010 and the $19.1b in 2003. Video poker (pokies) machines again accounted for the lion?s share ($10.2b) of gambling spend, but that?s a full $1b less than the previous year (works out to a $3m per day decline). Roy Morgan?s international director of tourism, travel and leisure Jan Ianniello says the number of active pokie players fell 200k to 4.4m this year, down from the peak of 5.5m in 2002. However, online gambling spend increased from $928m in 2010 to $1.1b this year.

DO YOU, JAMES PACKER, TAKE THIS CASINO LICENSE?
Citigroup has estimated that the new Sydney casino would add $300m to $400m to Crown?s bottom line once the joint opens in 2019. Meanwhile, the approval process for Packer?s ?unsolicited proposal? to build his Sydney cash machine is viewed by many as a fait accompli, based in part on the revelation that the NSW government rewrote regulations that allowed Crown?s application to bypass a competitive tendering process and news that the casino would benefit from a sweetheart tax rate. The belief that the fix was in has now been further bolstered by news that David Murray, the head government official assessing the project?s merits, was a guest at Packer?s wedding to Jodhi Meares in 1999. Greens MPs have called for Murray to stand down from the approval role to avoid conflict of interest suspicions, but Murray has refused, saying ?I think just about everyone in town was at that wedding.?

Packer seems almost incapable of taking a bad step in Australia these days. Last week, his Crown casino in Perth received the nod from the Gaming and Wagering Commission to add 500 pokies over the next five years and 100 more gaming tables over the next four years. Once complete, the joint?s total gaming offering would amount to 2,500 electronic gaming machines and over 300 gaming tables. All Crown has to do in return is complete construction of an adjoining six-star hotel.

PACKER ASKS THE NEVADA SUPREME COURT FOR A BREAK
Outside Australia, Packer?s 2012 hasn?t been entirely golden, as his and Crown?s aborted foray into the US market continues to come up snake-eyes. In September, Packer/Crown lost a bid to dismiss a lawsuit filed in 2010 by a group of big-money lenders who claim Packer/Crown misled them as to the dire finances of the never-finished $2.9b Fontainebleau Las Vegas project. Packer claims that stillborn project was a victim of the global recession, which resulted in the cancellation of nine-figure loan commitments from Bank of America and other high-profile lenders. A group of 46 lenders left holding $700m in Fontainebleau debt claimed Packer, Crown and developer Jeffrey Soffer kept two sets of books in order to hide $400m in cost overruns before the project went bankrupt. Crown itself lost $279m as a result of Fontainebleau?s failure to launch.

Last month, Packer/Crown filed an appeal with the Nevada Supreme Court over the Clark County District Court?s refusal to dismiss the case, arguing that the ruling ?if left uncorrected, is likely to chill foreign investment in Nevada.? According to Vegas Inc., Crown attorneys cited a US Commerce Department study detailing concerns that America?s overly litigious environment ? in particular the ?unpredictable and unfamiliar nature of liability? ? was causing international investors to question the value of doing business in the US of A.

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Source: http://calvinayre.com/2012/12/12/casino/echo-new-ceo-packer-invincible-in-australia-online-gambling-on-the-rise/

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What if we go off the cliff? (CNN)

Share With Friends: | | Politics - Top Stories Stories, RSS Feeds and Widgets via Feedzilla.

Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/270223060?client_source=feed&format=rss

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Man of Steel Trailer: Super Cool?

Source: http://www.thehollywoodgossip.com/2012/12/man-of-steel-trailer-super-cool/

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Ahead of the Bell: US wholesale inventories

WASHINGTON (AP) -- Wholesale companies have been increasing their stockpiles in response to solid sales gains.

The Commerce Department plans to report on the October performance for inventories and sales at the wholesale level at 10 a.m. EST Tuesday.

In September, wholesale companies increased their stockpiles by the biggest amount in nine months while their sales rose by the largest amount in 18 months.

The faster inventory growth along with stronger export sales prompted the government to boost its estimate for overall economic growth in the July-September quarter to a 2.7 percent rate, up from an initial estimate of 2 percent.

When businesses order more goods, it generally leads to more factory production and that boosts economic growth.

But many economists believe that growth has slowed in the current October-December quarter, in part because companies are likely cutting back on restocking on worries about tax increases and government spending cuts that will take effect in January if Congress and the Obama administration do not reach a budget agreement.

Analysts are also concerned that if the trend in sales slows, it could give companies less incentive to boost their stockpiles. Consumer spending, which accounts for 70 percent of economic growth, slowed slightly in the July-September quarter and it may show only modest gains in the final three months of the year.

However, hiring has picked up and consumers are feeling more optimistic, so that could help sales as long as worries about the budget negotiations and possible tax increases don't undermine that confidence.

Last week, the government reported that employers added 146,000 jobs in November and the unemployment rate dipped to a four-year low of 7.7 percent.

While the job growth was modest, it was encouraging because it defied disruptions from Superstorm Sandy and employers' concerns about the so-called fiscal cliff.

Analysts believe that the job market's underlying strength suggests that if the White House and Congress can reach a budget deal to avoid the cliff, hiring and economic growth could accelerate next year.

U.S. automakers had their best sales month in nearly five years in November. And a resolution of the fiscal cliff could lead businesses to buy more industrial machinery and other heavy equipment. That would generate more manufacturing jobs.

Source: http://news.yahoo.com/ahead-bell-us-wholesale-inventories-111106883.html

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Elephant Relocation Scheme Fails to Prevent Deaths

An attempt to save the lives of both elephants and people by moving the pachyderms away from humans has failed in Sri Lanka, a new study finds.

Instead of the relocated elephants living peacefully in their new homes, they wandered, researchers found. Relocated elephants died more often than problem elephants left in their original range. The relocated elephants also killed more people than elephants that stayed put.

"We were stunned that translocation neither solves the conflict nor saves elephants," study researcher Peter Leimgruber, a research scientist at the Smithsonian Conservation Biology Institute, said in a statement.

Relocating elephants

Elephant-human conflicts are a big problem, as an incident on Nov. 4 illustrates. On that day, a herd of elephants reportedly ransacked three houses in the village of Dumurkota, India, guzzling a shop's reserves of a local alcoholic brew called mahua. ??

In Sri Lanka, about 70 people and 200 Asian elephants die each year as a result of human-pachyderm conflict, according to the Smithsonian. A common solution is to move the elephants to protected areas, such as national parks. [Elephant Images: Largest Beasts on Land]

But a new study using GPS-enabled collars to track elephants found that relocating the animals did little good. The researchers followed 12 relocated male elephants and compared them with 12 male elephants left in their home ranges. All 24 elephants were "problem" elephants, meaning they had a history of conflict with humans.

Tragic ends

Two of the relocated elephants were killed in the national parks where they had been moved. The rest had wandered out of the park boundaries by 260 days after the release (some stayed around as little as a day). The wandering elephants either returned to their original range or settled somewhere new, but nearly all of them got tangled with humans again. Five of them died within eight months of the release. The relocated elephants were also responsible for killing five people in that time period.

The elephants left in their ranges didn't kill anyone, though one elephant was shot and killed.

There are only 35,000 to 50,000 Asian elephants left in the wild, making their conservation a priority. But conflicts stymie that goal, researchers said.

"As you track the elephants, you identify with these animals, you see their struggles and understand why they're doing the things that ultimately get them killed," Leimgruber said. "But you also understand that elephants represent a serious threat to humans and their livelihood."

The researchers suggest land-use plans that minimize crop-raiding might be more effective than moving elephants away.

Follow Stephanie Pappas on Twitter @sipappas?or LiveScience @livescience. We're also on Facebook?& Google+.

Copyright 2012 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/elephant-relocation-scheme-fails-prevent-deaths-202131033.html

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Personal Loans ? An Easy Solution to Resolve Your Financial ...

Personal Loans ? An Easy Solution to Resolve Your Financial Limitations

A number of financial loans fulfilling numerous requirements can be found these days. Although many of them came in to living, unsecured loans possess maintained their own standing. They?re extremely useful and also the favored kind for a lot of. This is a dialogue about the various kinds associated with staff financial loans, their own pros and cons.

Kinds of unsecured loans

You will find essentially 2 kinds of unsecured loans, the actual guaranteed kind and also the unprotected kind.

Guaranteed kind of staff mortgage: Because suggested through the title, this kind of personal bank loan can be acquired only when the actual customer retains a good resource for example property, vehicle or even jewellery because protection using the loan provider. The actual mortgage add up to that the customer is actually titled depends upon the actual security quantity proven through him or her.

Nevertheless, additional requirements for example great credit history as well as work standing will also be essential for the actual candidate in order to be eligible for a guaranteed kind of staff financial loans.

Unprotected kind of personal bank loan: All of the requirements with this kind tend to be just like which from the guaranteed mortgage aside from the actual protection down payment. Unprotected kind of unsecured loans doesn?t need any kind of protection.

Each these types of unsecured loans can be acquired effortlessly via a lot of on the internet loan companies. Nevertheless, it is crucial to check on the actual authenticity from the loan provider prior to maintaining any kind of belongings as protection.

Benefits of unsecured loans

1. Low interest: In order to get this particular advantage fully degree, have a optimum qualified quantity since the mortgage quantity.

two. Set rates of interest: In contrast to additional mortgage kinds in which the rates of interest differ according to the marketplace developments, staff financial loans are extremely secure with this regard. Should you choose the steady rate of interest strategy rather than the flying rate of interest strategy, you are able to nicely arrange for the actual mortgage obligations effortlessly.

Elements to become examined during the time of choosing staff financial loans

1. Programs providing a present quantity: Particular loan companies expose programs which guarantee a present on trying to get financing. In no way drop with regard to this kind of methods! This can improve your own mortgage quantity as rates of interest.

2. Evaluate all of the obtainable programs very carefully. It is suggested in order to get a fundamental strategy along with easy conditions and terms. Ensure that the actual staff financial loans strategy is simple to settle.

3. Repayment safety insurance coverage: Particular loan companies sell a person repayment safety insurance coverage during the time of getting the private financial loans. These people state how the insurance coverage repays the actual mortgage in the event of your own passing away or even repays the actual mortgage obligations in the event of main mishaps, company reduction and so on.

Although these types of insurance coverage benefits seem excellent, don?t get in to all of them. Getting the actual insurance coverage boosts the month-to-month staff financial loans obligations.

4. Feel the paperwork very carefully prior to putting your signature on: Undergo every single terms two times. If you?re unclear upon any kind of info don?t wait to obtain this cleared up in the loan provider. Additionally, evaluate your own monetary standing in order to inform you if you?re able to pay back the actual staff financial loans inside the mortgage time period.

In the over dialogue it may be observed which staff financial loans would be the greatest mortgage programs to fulfill your own monetary restrictions. Nevertheless, watch out for loan companies who?re available in order to simply help to make earnings.

Source: http://www.masterplanificacion.org/personal-loans-an-easy-solution-to-resolve-your-financial-limitations.html

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