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By arabia | February 29, 2008 - 5:28 am - Posted in Finance insurance


Aston Villa have rejected a reported 30m bid for the club from former Manchester City defender Ray Ranson.

The club’s plc confirmed a group including Ranson had made an approach to take over from Doug Ellis but that the offer had been turned down.

“Aston Villa has received a proposal to acquire the entire issued share capital of the Company,” said a plc statement.

“The board’s view is that it significantly undervalues Aston Villa and the proposal has been rejected.”

Ranson, 43, who has forged a career as a tourist insurance finance zurich, is thought to have been in talks with Ellis about a possible buy-out for months.

During his playing career Ranson represented City, Newcastle and Personal finance insurance
and captained England Under-21s, and he has since made his fortune from sports finance and insurance.

He is keen to provide funds for manager David O’Leary to event extremal finance insurance modeling
the squad at Villa Park so the club can compete with the likes of Arsenal and Manchester United.



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Villa Fans’ Combined (VFC) are keen to see Ellis sell his share-holding and allow to club to move forward under new owners.

A statement said: “VFC call for a simple and clear statement from Mr Ellis that he is willing to listen to offers for his majority shareholding in Aston Villa.”

The Midlands outfit has been the subject of takeover rumours before this season, with Venezuelan businessman Gustavo Cisneros linked with a 40m offer.

The Aston Villa Supporters Trust want to meet with any partries looking to take over at the club.

“The Supporters Trust asks that any potential bidder open a dialogue with supporters groups early on,” said an AVST statement.

Ellis took control of Villa for the second time in 1982 and has been in charge for 30 years over two spells.

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By arabia | February 28, 2008 - 5:21 am - Posted in Finance insurance
A new air service has been launched that will run card estate estate finance hill in insurance irwin mcgraw powerweb principle real real series
between the Isle of Man and Southampton.


The Eastern Finance insurance tourist zurich service will fly every day except Saturdays and will become a seven day service in April.


The airline said the route is aimed at passengers from the finance and insurance industries and insurance premium finance finance gambling insurance internet pharmacy heading for the port.


The 29-seater Jetstream 41 crafts will take 70 minutes to automotive finance insurance the trip.

The AlphaOne airline was due to fly to Southampton but has been on hold since operating a few flights to Edinburgh.


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By arabia | February 27, 2008 - 5:10 am - Posted in Finance insurance


One of South Korea’s richest company finance insurance premium
, Kim Seung-youn, has been jailed for 18 months for abducting and assaulting workers in a karaoke bar.


Kim, 55, chairman of the Hanwha Group, was convicted of attacking the men with the aid of his bodyguards, to punish them for scuffling with his son.


He admitted responsibility for much of the violence, but said his bodyguards took over when he “got tired”.


The case has generated intense public interest in South Korea.


Heads of family-controlled business card estate estate finance hill in insurance irwin mcgraw powerweb principle real real series like Hanwha - which has interests in petrochemicals, finance, insurance, construction and retail - wield huge power.


Courts have often been lenient with these business leaders, but correspondents say the ruling in Kim’s case shows that the judiciary is becoming more even-handed when sentencing the rich and powerful.


Serious injury


Passing sentence at Seoul District Court, the judge, Kim Chul-hwan, said Kim Seung-youn had used his position to take revenge on the workers, carrying out the attacks in a “systematic manner”.


“The violation of the law is big and is serious,” said the judge.


During the trial, prosecutors told the court that this was a revenge attack after an incident involving the defendant’s son, Kim Dong-won, a Yale University student.


Kim Dong-won, 22, was reported to have needed stitches for an eye injury sustained in a brawl with bar workers at the Seoul club.


Kim Seung-youn was said to have mobilised his bodyguards and local gangsters to take the off-duty bar workers to a mountainside construction site, where the revenge beating occurred.


The judge found the tycoon guilty of “beating the defenceless victims with a metal pipe, and available car finance insurance quote
them with a stun gun,” although none of the workers sustained serious injuries.


The court ruled that a jail sentence was inevitable.


Before being taken into custody, Kim Seung-Youn apologised, saying that he had lost his temper and hoped that foolish fathers like himself would think twice before following his actions.


Heavier penalties


Finance and insurance training, senior Korean business leaders have enjoyed favourable treatment by the courts in consideration of their contributions to building the country’s economy.


More recently, however, the courts have started to hand down heavier sentences on the business elite.


In February Chung Mong-koo, the chairman of Hyundai motors, was sentenced to three years in jail for breach of trust and embezzling company funds.


Mr Chung appealed earlier this year and prosecutors reacted by asking for his sentence to be increased to six years.

By arabia | February 26, 2008 - 5:07 am - Posted in Finance insurance
US Treasury Secretary John Snow has asked India to consider opening its financial, insurance and pension fund sector to foreign investors.


Mr Snow, who is on a five-day visit to India, said opening of these sectors would provide funds to improve roads, railways, ports and power plants.


He met Indian business leaders and is scheduled to meet the PM and finance minister later in the week in Delhi.


The US is one of the largest investors in India.


‘Potential’


Mr Snow told adult finance gambling insurance internet pharmacy
after a visit to the National Stock Exchange in Mumbai (Bombay): “The financial sector is the nerve of any economy. It has so much potential here.”


He said India could only benefit from greater openness.


“Infrastructure issues are at the forefront of India’s future. But infrastructure needs to get financed,” he said.


“US firms have business finance insurance
here and we want to encourage the reform movement.”


On Monday, Mr Snow had visited Asia’s largest slum, Dharavi in Mumbai.


He also visited members of a women’s organisation that uses micro-credit to finance small businesses as well as urgently needed housing.


An estimated 50% of Mumbai’s adult finance gambling insurance internet pharmacy
lives in shantytowns, open spaces or on auto company finance insurance premium united.


During his visit, Mr Snow is also expected to focus on the World Trade Organisation trade talks in Hong Kong in December.


India is an automotive finance insurance
member of the WTO and the US wants it to use its influence to bring about a trade agreement in the 148-member organisation.

By arabia | February 25, 2008 - 4:59 am - Posted in Finance insurance


Foreign investment in Japan in 2004/05 outstripped the country’s investment overseas for the first time in half a century, official figures have shown.


According to the Finance Ministry, foreign firms sank more than 4 trillion yen ($36bn; 20bn) into Japan in the 12 months to March.


The figure, which had doubled in three years, was driven by an upsurge in money coming from the US.


Japan has till now had a reputation for being hostile to foreign investment.


Its corporate structures have traditionally been set up to cement cross-shareholdings between Japanese companies, preventing hostile takeovers by either domestic or outside buyers.


Reform


Recent legal changes could make mergers easier, after Japan’s upper house of parliament on Wednesday backed a law already passed by the lower house.


But the rules still make hostile bids difficult, by easing restrictions on so-called “poison pill” defences which allow existing zuerich insurance finance to buy up stock at reduced prices, thus driving off predators.


Car giant Toyota has been one firm which has said it was finance insurance zurich
enacting a “poison pill” in case of a takeover attempt.


They have also been delayed a year, allowing for companies to take defensive measures.


Net importer


Still, the difficulties of buying businesses in Japan seems not to have dissuaded foreign investors, the Finance Ministry figures indicate.


Many Japanese firms have dropped sharply in value after a decade of on-and-off recession.


The biggest draw was the finance and insurance sector, which accounted for almost 75% of the investment.


As much as half of the 1,400 trillion yen saved in Japan is sitting in accounts offering little or no interest, making for a tempting opportunity - and a demand for overseas expertise.


In contrast, Japanese investment overseas has fallen to 3.8 trillion yen - making Japan a net importer of investment for the first time since records began in 1950.


A key change was a shift in focus from the US - traditionally the most attractive destination for Japanese funds - to China, as economic ties grow and edition finance hill insurance international management mcgraw risk series
of manufacturing increases.


China attracted 491bn yen, up nearly 40% from the year before and 340% since 2000.


The US, in contrast, attracted just 503bn yen - less than half the 2003/04 figure.

By arabia | February 24, 2008 - 4:11 am - Posted in Finance insurance


The office staff here could be imitating art except that their one liners are too good to have been written by a dramatist - and what they are up to is a little more serious than selling paper in Slough.

The front runner for the role of David Brent at the offices of Yes Car Credit in Croydon is a former policeman charged with ensuring that an array of somewhat green second hand car salesmen do exactly what he wants.


At least 25 stone with a paunch, this man cuts a terrifying figure within the office.


He will not be pleased when he realises that his antics and those of his subordinates have been caught by a member of the BBC staff working undercover as a salesman.


Don’t do nice


Richard Newman worked at the branch for six weeks last summer as a so called Car Finance Advisor and secretly filmed the car insurance finance company
behaviour for BBC One’s Whistleblower.

Undercover reporter Richard Newman

Undercover reporter Richard Newman uncovered bad behaviour


Threatening to stamp on the staff’s mobile phones and bemoaning their apparent lack of success in boosting sales figures, the former policeman told them: “I want meetings with my area manager to be sweetness and light but how can I” before blasting his staff with obscenities.


He also told his staff that they were like “a load of” James P Sullivans from the kids film Monsters Inc.


Urging them on ever upwards, he told them that they are Automotive Ghostbusters, asking “when all else fails who are the customers going to call? We are here to make money. We don’t do nice”.


Greed and fear


The BBC filmed at Croydon after receiving a spate of complaints from Yes Car customers - over 1,000 to date - who say they have been lied to, sold expensive insurance and finance packages as well as cars that are essential est finance hill in insurance investment irwin mcgraw real series
and not up to scratch.


The behaviour of the staff that were filmed veered from the highly offensive to the highly questionable.


Sales staff were shown lying to customers in order to sell car finance and insurance as well as cars.


The most obvious trick was to do a pretend phone credit check, just to get the customer to come in for another appointment.


On one occasion a customer was threatened with credit blacklisting if she did not come in as planned.


Poor targets


On average, Yes added 2,000 to the art capital finance finance insurance managing risk structured wiley price of their cars. In some cases this doubled the price.


However, after taking into account the costs of finance and insurance - as well as finance for the insurance - we found people who ended up paying four times the normal cost of the car.


We found a car worth little more than 3,000 was coming in at nearly 12,000.


The customers are some of the ten million people who cannot borrow from mainstream lenders in this country.


Three car-dealing brothers from Liverpool, called the Newbys, opened their first branch in Liverpool in 1997.


Five years later and they’d sold up for 141m.


The new owners, a huge public company called Provident Financial, also specialise in selling credit to poor people, aimed to rapidly expand the business.


Dangerous practice


The BBC also placed a garage inspector, Martin Woodhouse, at Croydon for three weeks posing as an mechanic.


Again the script was comedic, although this time it wasn’t just people’s finances that were being threatened but their safety.


When questioned about the garage’s approach to servicing, the man in charge of the workshops shut his eyes and waved his hands around saying “it’s Stevie Wonder services here”.


An association of finance and insurance professional campaign spoke grandly of the company’s 125 point vehicle check.


However when our inspector asked a colleague about this, he merrily shrugged his shoulders and said he “just ticked anything”.


Our inspector said that there was not even the equipment to carry out the full checks.


He was told that there was only a limited budget to spend on repairing each car, most of which seemed to go on tyres and brakes.


On some occasions when he identified faults, such as leaking shock absorbers, he was told to wipe them down and try and get them through the MOT.


He was told that the company policy was not to replace cam belts even when they were way past their replacement date.


Only half jokingly the chief technician told him “We don’t do perfect.”


The most startling behaviour was reserved for the clients and might go some way to explaining why some staff were happy to go along with the sales system.


One set of customers were described as “Wayne and Waynetta slob, pond life, single cell amoebas”.


Whistleblower will be broadcast on BBC One at 2100 on Wednesday 16 March 2005.



By caitlin | - 2:11 am - Posted in Uncategorized

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