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Sep 5, 2011

Private equity firm targets building companies, Business blogs: The rules and rewards, Car dealership collapses, New legal lessons on social. Smartcompany News & Analysis.


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Today on SmartCompany we look at two investments from private equity firm Anacacia, which shows there’s still money available for the right growth stories. We look at the $80 million collapse of a Sydney car dealer, look at the fallout from yesterday’s fiery Productivity Commission hearing on the retail sector and examine Dymocks' new publishing venture. Plus in Entrepreneur Watch, James Thomson looks at the debate over economic reform and sees problems with the selling rather than the substance.

For all this and more, head to our home page.

Top Story
Business blogs: The rules and rewards
Writing a company blog can provide a whole host of benefits. BY NINA HENDY.
Business blogs

Legal Update
Making social media legally safe for all
Social media is the new frontier of bad behaviour. BY ANDREW DOUGLAS.
Social media

Aunty B
Do I put the dogs on my treacherous former employee?
Where does it say in your business plan that you should spend every day ruminating and stressing over past events that were probably unavoidable?
Aunty B

People problems
Eve Ash
Here are some things to keep in mind that will make it more bearable when it comes to job hunting.
Eve Ash

Brand
Michel Hogan
It’s time for a bit of brand spring cleaning to get things all sparkling as we head into the home stretch of the calendar year.
Michel Hogan

Enterprise Leadership
Dennis Roberts
How can you ensure you get what you want while still retaining your integrity?
Dennis Roberts

Entrepreneur Watch
James Thomson
The attacks on the Government from business over economic reform are not driven by a lack of big ideas, but by a lack of selling skills.
James Thomson

Kitco New YorK Market Close Report Spot Gold BID



Live New York Gold Chart [Kitco Inc.]






New York Market Close Sep 05/11 05:23 PM EDT
Metals
Bid
Ask
Change
Low
High
Gold
1900.30
1901.30
16.10
0.85%
1874.20
1904.20
Silver
42.87
42.97
-0.38
-0.88%
42.25
43.44
Platinum
1885.00
1895.00
7.00
0.37%
1821.00
1895.00
 
 
Palladium
761.00
768.00
-12.00
-1.55%
758.00
795.00

Standard & Poor's Latin America Highlights - Selected Reports


Standard & Poor's LatinAmerica Highlights

Selected Reports

Qué significa la baja de calificación de Estados Unidos para las calificaciones soberanas de América Latina y el Caribe

El 5 de agosto de 2011, Standard & Poor’s Ratings Services bajó su calificación soberana de largo plazo de Estados Unidos a ‘AA+’ de ‘AAA’ y confirmó su calificación de corto plazo de ‘A-1+’.

English Version

Empresas en América Latina mantendrán, por ahora, su calidad crediticia pese al lento avance de la economía de Estados Unidos y a los problemas de la deuda de Europa

El impacto de una débil recuperación económica de Estados Unidos y de la reciente baja de calificación soberana de ese país, aunado a los problemas de la deuda en algunos países de Europa, tienen poca probabilidad de afectar la calidad crediticia de los emisores corporativos de América Latina, en el corto plazo.

English Version

Instituciones financieras en México con poco o nulo impacto por reciente baja de calificación de Estados Unidos

A medida que los mercados financieros continúan reaccionando a la reciente baja de calificación de Estados Unidos llevada a cabo por Standard & Poor's Ratings Services varias economías en el mundo se preparan para ver un menor crecimiento.

Stabilized Brazilian Bank Loan Credit Quality Should Put Fears Of A Bubble To Rest

Brazil has vaulted into the global spotlight in recent years, and not just because it'll host the World Cup in 2014 and Olympics in 2016.

Índice de RMBS Mexicanos: Incertidumbre económica mundial podría retrasar mejoras en desempeño de créditos hipotecarios en México durante lo que resta de 2011

Incertidumbre económica mundial podría retrasar mejoras en desempeño de créditos hipotecarios en México durante lo que resta de 2011

Rating News

Argentina

Banco Hipotecario S.A. Counterparty Credit Rating Affirmed At 'B'; Outlook Remains Stable

We are affirming our 'B' ratings, including the counterparty credit rating, on Banco Hipotecario.

Bolivia

Standard & Poor's revisa perspectiva de Bolivia a positiva; confirma calificaciones de 'B+' y 'B'

Nueva York, 22 de agosto de 2011.- Standard & Poor's Ratings Services revisó su perspectiva a positiva de las calificaciones soberanas en moneda extranjera y moneda local del Estado Plurinacional de Bolivia (Bolivia).

English Version

Brasil

Revisão de metodologia leva Standard & Poor’s a alterar para positiva perspectiva do rating de longo prazo em moeda local do Brasil

Em 25 de agosto de 2011, a Standard & Poor's Ratings Services alterou de estável para positiva a perspectiva do rating de crédito soberano de longo prazo em moeda local da República Federativa do Brasil.

English Version

Ratings da Anhanguera Educacional Participações S.A. elevados com base na bem sucedida estratégia de expansão da empresa

Em 26 de agosto de 2011, a Standard & Poor's Ratings Services elevou os ratings atribuídos à empresa brasileira do setor de educação Anhanguera Educacional Participações S.A.

Perspectiva dos ratings do Banco Pine S.A. alterada para positiva; rating elevado para ‘brA’ na Escala Nacional Brasil e ratings ‘BB-/B’ reafirmados na escala global

Em 22 de agosto de 2011, a Standard & Poor's Ratings Services alterou a perspectiva dos ratings atribuídos ao Banco Pine S.A. (“Pine”), de estável para positiva.

Chile

Standard & Poor’s Afirmó la Clasificación Subyacente (SPUR) ‘BBB’ de Rutas del Pacífico; La Perspectiva es Estable

BUENOS AIRES (Standard & Poor's), 29 de agosto de 2011—Standard & Poor's Ratings Services afirmó la clasificación subyacente (SPUR) ‘BBB' de la autopista chilena Sociedad Concesionaria Rutas del Pacífico S.A. (RdP).

English Version

E-CL S.A. ‘BBB-‘ Rating Affirmed; Outlook Stable

E-CL's operating and financial performance in recent quarters has been in line with our expectations. We are affirming our 'BBB-' ratings on the company.

Standard & Poor’s Afirmó las Clasificaciones ‘BBB+’ de Empresas CMPC S.A. y de su Subsidiaria Inversiones CMPC; La Perspectiva es Estable

BUENOS AIRES (Standard & Poor's), 30 de agosto de 2011--Standard & Poor's Ratings Services afirmó sus clasificaciones ‘BBB+' de la compañía chilena de productos forestales Empresas CMPC S.A. (CMPC)

English Version

Summary: Petropower Energia Ltda.

The 'BBB-' senior secured debt rating on Petropower Energia Ltda. reflects the following risks: High operating standards, such as availability requirements of more than 90% for several units, for receiving full revenue payments; Petropower's reliance...

Colombia

Grupo de Inversiones Suramericana S.A.: ANALYSIS

Standard & Poor's Ratings Services' ratings on Grupo de Inversiones Suramericana S.A. (Gruposura) reflect the company's portfolio quality, which includes publicly listed, leading companies in Colombia.

Costa Rica

Standard & Poor's confirma calificaciones de 'BB' y 'B' de Banco Internacional de Costa Rica; la perspectiva es estable

México, D.F., 22 de agosto de 2011.- Standard & Poor's Ratings Services confirmó hoy sus calificaciones de crédito de contraparte de largo plazo de ‘BB' y de corto plazo de ‘B' de Banco Internacional de Costa Rica S.A. (BICSA).

Dominican Republic

Summary: AES Andres Dominicana

Standard & Poor's Ratings Services' ratings on AES Andres Dominicana reflect the challenges of operating in the Dominican Republic's electric industry, which faces a historically weak regulatory framework, and has an inefficient and highly subsidized...

Summary: Empresa Generadora de Electricidad Haina

Standard & Poor's Ratings Services' ratings on Empresa Generadora de Electricidad Haina S.A. (EGE Haina) and its special-purpose financing entity, Haina Finance S.A., reflect the challenges of operating in the Dominican Republic's electric industry, ...

Summary: Empresa Generadora de Electricidad Itabo

Standard & Poor's Ratings Services' ratings on Empresa Generadora de Electricidad Itabo S.A. reflect the company's deteriorating financial profile, partly a result of a higher cost structure associated with a fixed-price coal supply contract which st...

Ecuador

Republic of Ecuador: ANALYSIS

Recent history of default and continued weak institutional framework. Relatively high fiscal deficits in the context of dollarization.

Grenada

Grenada: ANALYSIS

Recent history of default and continued weak institutional framework. Relatively high fiscal deficits in the context of dollarization.

México

Standard & Poor's confirma calificaciones de deuda senior garantizada de Autopista Monterrey-Cadereyta y revisa perspectiva a negativa de estable

México, D.F., 2 de septiembre de 2011.- Standard & Poor's Ratings Services confirmó hoy sus calificaciones de deuda senior garantizada de largo plazo en escala global de 'BBB-'

Standard & Poor's confirma calificaciones de 'B+' de Alestra y las retira de Revisión Especial tras completar adquisición

México, D.F., 1 de septiembre de 2011.- Standard & Poor's Ratings Services confirmó hoy las calificaciones de riesgo crediticio y de deuda de ‘B+' de Alestra S. de R.L. de C.V.

S&P asigna calificación de 'mxAA' a la tercera emisión de certificados bursátiles bancarios de Banco Compartamos; la perspectiva es estable

México, D.F., 25 de agosto de 2011.- Standard & Poor's asignó hoy su calificación de largo plazo en escala nacional –CaVal– de ‘mxAA' a la tercera emisión de certificados bursátiles bancarios, por un monto de hasta $2,000 millones de pesos

Panamá

ENA Sur Trust: ANALYSIS

In 2010, the Panamanian government announced that it reached an agreement with Empresas ICA S.A.B. de C.V. (BB-/Stable/--) to take control of ICA Panama, which holds the concession to operate the Corredor Sur toll road located in Panama City.

Paraguay

Standard & Poor's sube calificación de largo plazo de Paraguay a 'BB-' de 'B+' por mejor flexibilidad fiscal; la perspectiva es estable

Standard & Poor's sube calificacion de largo plazo de Paraguay a 'B+' por mejora de fundamentos economicos y estabilidad politica; la perspectiva es positiva

English Version

S&P afirma calificación de ‘B+’ de Visión Banco S.A.E.C.A. tras suba de calificación soberana de Paraguay; la tendencia se mantiene positiva

Buenos Aires, 31 de agosto de 2011.- Standard & Poor's Ratings Services subió su calificación de crédito de contraparte de largo plazo de Banco Bilbao Vizcaya Argentaria Paraguay (BBVA Paraguay) a 'BB-'de ‘B+'.

English Version

S&P sube calificación de Banco Bilbao Vizcaya Argentaria Paraguay a 'BB-/B’ de 'B+/B' tras suba de calificación soberana de Paraguay; la perspectiva es estable

Buenos Aires, 31 de agosto de 2011.- Standard & Poor's Ratings Services subió su calificación de crédito de contraparte de largo plazo de Banco Bilbao Vizcaya Argentaria Paraguay (BBVA Paraguay) a 'BB-'de ‘B+'.

Perú

Standard & Poor's sube calificación soberana de largo plazo en moneda extranjera de Perú a 'BBB'; la perspectiva es estable

Nueva York, 30 de agosto de 2011.- Standard & Poor's Ratings Services subió su calificación soberana de largo plazo en moneda extranjera de la República de Perú a ‘BBB' de ‘BBB-'.

English Version

Supranacional

Standard & Poor's confirma calificaciones de 'AA' y 'A-1+' de la Corporación Interamericana de Inversiones; la perspectiva es estable

Nueva York, 24 de agosto de 2011.- Standard & Poor's Ratings Services confirmó sus calificaciones de riesgo crediticio de emisor de largo plazo de ‘AA' y de corto plazo de ‘A-1+' de la Corporación Interamericana de Inversiones (CII).

Venezuela

Petróleos de Venezuela S.A. (PDVSA) 'B+' Ratings Affirmed After Venezuela's Downgrade; Outlook Stable

On Aug. 19, 2011, we downgraded Venezuela to 'B+' from 'BB-'. We have also applied our enhanced methodology and assumptions for rating government-related entities to PDVSA.

C.A. La Electricidad De Caracas Corporate Credit Rating Lowered To 'B-' After Sovereign Downgrade On Venezuela

On Aug. 19, 2011, Standard & Poor's lowered its long-term global scale ratings on Venezuela to 'B+' from 'BB-'. We continue to view EDC as a government-related entity in Venezuela.

NYT: Afternoon Business News: Euro Zone Leaders Get Warning From Central Bankers



BUSINESS

The Fallacy Behind Tax Holidays
36 minutes ago
T-Mobile USA Owner to Study Deal Options
41 minutes ago
Hybrid in a Trade Squeeze

Euro Zone Leaders Get Warning From Central Bankers

By LIZ ALDERMAN AND JAMES KANTER
The heads of the European Central Bank warned that politicians are not moving quickly enough to keep the debt crisis from worsening.

A Debate Arises on Job Creation and Environment

By MOTOKO RICH and JOHN BRODER
Economists say regulations must be judged by economic and social factors as well as environmental priorities.

Postal Service Is Nearing Default as Losses Mount

By STEVEN GREENHOUSE
The agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress acts to stabilize its finances.

China Aims to Rein In Car Sales

By KEITH BRADSHER
Government officials called for the country's automakers to shift away from making more cars and toward producing more fuel-efficient and technologically advanced ones.

In California, Amazon Pushes Hard to Kill a Tax

By DAVID STREITFELD
To avoid paying tens of millions of dollars, Amazon.com is seeking a voter referendum on whether online retailers should pay sales taxes.
 




Legendary fundie to quit QIC: The Australian Business Briefing




Legendary fundie to quit QIC
Legendary fund manager to quit QIC Andrew Fraser DOUG McTaggart has never been the fund manager from central casting.

Rio to sell Palabora stake
Copper Devon Maylie RIO Tinto and Anglo American plan to sell their stakes in South Africa's largest copper producer, Palabora Mining.

PC rejects online tax push
online shopping Blair Speedy RETAILERS have been labelled "protectionist" for their bid to impose GST on online sales.

Foster's loses ground to rivals
fosters' hangover wine beer Richard Gluyas FOSTER'S continued to surrender market share in the crucial packaged beer segment, which will strengthen suitor SABMiller's hand.

Iceland's bank crisis on trial
Iceland Geir Haarde ICELAND'S former prime minister has become the first political leader to be tried over the global financial crisis.

Boutiques in administration
Boutiques in administration as retailers stitched up Teresa Ooi THE Satch boutique chain of 14 upmarket clothing stores has been placed in voluntary administration.

Rail link boosts coal haulage
QR coal train Tracy Lee RAIL freight group QR National will expand its coal haulage capacity by more than 70 million tonnes with a new rail link.

Financial Markets
Gold price to test record
Gold Kate Gibson GOLD prices topped $US1900 a troy ounce today on worries about slowing growth and European debt.

Oil falls 2pc on economic fears
Europe tumbles on debt fears

Financial Markets Coverage

Mining & Energy
Rio to sell Palabora stake
Copper Devon Maylie RIO Tinto and Anglo American plan to sell their stakes in South Africa's largest copper producer, Palabora Mining.

Gold price to test record
Oil falls 2pc on economic fears

More Mining & Energy

Newspoll clobbers Gillard: The Australian Capital Circle

Capital Circle Newsletter


Newspoll clobbers Gillard
 
The Prime Minister's popularity has fallen again, but Tony Abbott and Kevin Rudd are in rude health.

Julia Gillard leaves for the Pacific Islands Forum in Auckland at about 11am today. After arriving at about 4pm local time, Ms Gillard will hold a doorstop. She'll then enjoy the traditional Maori greeting ceremony that leaders to New Zealand receive. Tonight she'll sit down with the leaders attending the forum for dinner.
Tony Abbott is in Brisbane for the next two days. He'll visit a medium-sized business in Brisbane this morning that will be affected by the carbon tax.
A disastrous Newspoll has put further pressure on Julia Gillard. Her personal support has hit a record low, Tony Abbott is preferred PM and Kevin Rudd was - and is - far more popular  (report ). The new hit, taken as the party tries to thrash out a new asylum seeker policy, could be terminal for the Gillard government.
The numbers: Voter satisfaction with Ms Gillard fell six points to a record low of 23 per cent as dissatisfaction jumped seven points to 68 per cent. Ms Gillard's net satisfaction rating is now minus 45 per cent. Mr Abbott jumped clear to a nine-point lead over her as the preferred prime minister, with a rise in support from 39 per cent to 43 per cent. Ms Gillard's support fell four points to a new low of 34 per cent. Labor's primary vote is stuck at 27 per cent while the Coalition's has risen to 50 per cent. (report) (Newspoll table) ( Dennis Shanahan's analysis.)
Rates on hold: The Reserve Bank is expected to leave rates on hold at its monthly board meeting today. A Bloomberg poll of 25 economists showed all 25 think rates will remain steady. The decision will be handed down at 2.30pm today.
What's on: The NSW bu
Read more...
 
Mumble
Peter Brent
Peter Brent
 
Labor and asylum seekers and Newspoll
Today’s Newspoll has Labor’s numbers crashing on attitudes to their handling of asylum seekers. In late 2008, 31 percent of respondents rated the government as…
 
More Peter Brent