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Nov 28, 2011

Smartcompany News and Analysis: Wayne Swan surplus-saving mini budget – Key cuts and growth outlook, Seven tips for dodging the Christmas cashflow crunch, Solar company collapses

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Today on SmartCompany we take a look at Treasurer Wayne Swan’s mini budget, which is designed to save Labor’s much-vaunted surplus in 2012-13. There is plenty in the way of cuts to areas including fringe benefits tax, super and family payments, but thankfully no major cuts to SME programs. We also look at another collapse of a solar company, the outlook for pay rises and in Entrepreneur Watch, James Thomson studies a fascinating IR development from Britain.

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

Top Story
Seven ways to dodge the Christmas cashflow crunch
Before you get swept up in the festive spirit, stop and think about the lifeblood of your business – cashflow – and what could happen to it over the holiday period. BY MADELEINE HEFFERNAN.
Christmas cashflow crunch

Legal Update
The new OHS regime shock
SMEs hoping for a delayed start to the new Work Health and Safety harmonised laws could be in for a rude shock. BY GRAHAM DENT.
OHS regime shock

Aunty B
I’m sick of all the whining… and you’re part of the problem Aunty!
Yeah, thanks for that. Oh, and by the way, the purpose for this very column, Mr More than over it, is for exhausted, grumpy bosses like your good self to have a great big whinge.
Aunty B

People problems
Eve Ash

Regardless of rank or role, every single person within an organisation deserves to be treated with respect.
Eve Ash

Brand
Michel Hogan

It’s not a company anymore. Now the brand does this, the brand says that. It’s the brand that has made a mistake, or reaped a gain. It’s lunacy and it really has to stop.
Michel Hogan

Behavioural Economics
Bri Williams

What’s behind the rise in supermarket house brands?
Bri Williams

Entrepreneur Watch
James Thomson

Britain is moving to formalise “protected conversations” between employees and employers. Could the idea work here?
James Thomson

Standard & Poor's Latin America Highlights: Brazil Sovereign Rating Raised To 'BBB', Based On Growing Ability To Withstand Global Economic Deterioration

Standard & Poor's LatinAmerica Highlights

Selected Reports

Brazil Sovereign Rating Raised To 'BBB', Based On Growing Ability To Withstand Global Economic Deterioration

The Rousseff administration of Brazil has demonstrated its commitment to meeting fiscal targets, thereby enlarging the scope for using monetary tools to influence the domestic economy.

Portuguese Version
Spanish Version

Bancos: Metodología y supuestos de calificación

Standard & Poor's Ratings Services está actualizando sus metodologías y supuestos para
calificar bancos.

Rating News

Argentina

Standard & Poor’s afirmó las calificaciones ‘B-’ en Escala Global de Mastellone Hermanos S.A. La tendencia es estable

BUENOS AIRES, (Standard & Poor’s)—24 de Noviembre de 2011— Standard & Poor's Ratings Services afirmó sus calificaciones ‘B-’ en escala global y ‘raBBB-’ en escala nacional para la República Argentina de Mastellone.

English Version

Alto Palermo S.A. 'B' Ratings Affirmed On Performance In Line With Expectations

APSA's operating and financial performance remained aligned with our expectations. We are affirming our 'B' ratings on the company.

IRSA Inversiones y Representaciones S.A. ‘B’ Ratings Affirmed On Performance Aligned With Expectations

IRSA's operating and financial performance remained aligned with our expectations. We are affirming our 'B' ratings on the company.

Standard & Poor’s asigna calificación raAc (Nuevo) al fondo Delta Patrimonio I Fondo Común de Inversión

Buenos Aires, 17 de noviembre de 2011 – Standard & Poor's ha asignado la calificación ‘raAc (Nuevo)' al fondo Delta Patrimonio I Fondo Común de Inversión administrado por RJ Delta Fund Management S.A. Sociedad Gerente de Fondos Comunes de Inversión y que cuenta con el Banco de Valores S.A. como sociedad depositaria.

Standard & Poor’s asigna calificación raA+c (Nuevo) al fondo Consultatio Renta Variable F.C.I.

Buenos Aires, 17 de noviembre de 2011 – Standard & Poor's asignó la calificación ‘raA+c (Nuevo)' al fondo Consultatio Renta Variable F.C.I. y administrado por Consultatio Asset Management Gerente de Fondos Comunes de Inversión S.A.y que cuentan con el Banco de Valores S.A. como sociedad depositaria.

Barbados

Research Update: 'BBB-/A-3' Rating On Barbados Affirmed, Outlook Negative

We are affirming our 'BBB-/A-3' local and foreign currency ratings on Barbados. Global events are weakening Barbados' economic recovery. We believe that the high fiscal pressures may hinder Barbados' medium-term growth.

Belize

Outlook On Belize Revised To Negative From Stable, 'B-/C' Sovereign Credit Ratings Affirmed

A weak growth and investment outlook, rising crime, public-sector wage pressures, and a hard budget constraint may reduce political incentives to pay debt service over the near term.

Brazil

Ratings da Vale elevados de ‘BBB+’ para ‘A-’ por sólido desempenho e comprometimento com políticas prudentes; Perspectiva estável

Em 23 de novembro de 2011, a Standard & Poor’s Ratings Services elevou os ratings na escala global atribuídos à mineradora brasileira Vale S.A.

Perspectiva dos ratings da CESP alterada de estável para positiva; Ratings ‘BB-’ na escala global e ‘brA-’ na Escala Nacional Brasil reafirmados

Em 24 de novembro de 2011, a Standard & Poor’s Ratings Services alterou a perspectiva dos ratings atribuídos à geradora brasileira de energia hidrelétrica CESP - Companhia Energética de São Paulo

Ratings do Brasil elevados para ‘BBB’, refletindo sua crescente capacidade de enfrentar um cenário de deterioração econômica global

Nova York (Standard & Poor’s), 17 de novembro de 2011 — A Standard & Poor’s Ratings Services elevou hoje o rating de crédito soberano de longo prazo em moeda estrangeira atribuído à República Federativa do Brasil de ‘BBB-’ para ‘BBB’

Chile

BOLETIN: Standard & Poor’s anuncia que las clasificaciones de Telefónica Móviles Chile no se encuentran afectadas por la nueva emisión de deuda

BUENOS AIRES, (Standard & Poor’s)—24 de Noviembre de 2011— Standard & Poor's Ratings Services anunció que las clasificaciones de Telefónica Móviles Chile S.A. (Telefónica Móviles) no se encuentran afectadas por la reciente emisión de deuda.

English Version

Standard & Poor’s Afirmó las Clasificaciones ‘BB+’ de Ruta del Bosque Sociedad Concesionaria S.A.; La Perspectiva es Estable

BUENOS AIRES (Standard & Poor's) 23 de noviembre de 2011--Standard & Poor's Ratings Services afirmó su clasificación ‘BB+' sobre las obligaciones a tasa fija emitidas por Ruta del Bosque Sociedad Concesionaria S.A. (RdB).

English Version

Standard & Poor’s Afirmó las Clasificaciones ‘BBB-’ de Ruta del Maule Sociedad Concesionaria S.A.; La Perspectiva es Estable

BUENOS AIRES (Standard & Poor's) 23 de noviembre de 2011--Standard & Poor's Ratings Services afirmó su clasificación ‘BBB-' sobre las obligaciones a tasa fija emitidas por Rutas del Maule Sociedad Concesionaria S.A.

English Version

Standard & Poor's Ratings Services afirmó su clasificación ‘BBB-' sobre las obligaciones a tasa fija emitidas por Ruta del Maipo Sociedad Concesionaria S.A. (Maipo). La perspectiva es estable.

BUENOS AIRES (Standard & Poor's) 23 de noviembre de 2011--Standard & Poor's Ratings Services afirmó su clasificación ‘BBB-' sobre las obligaciones a tasa fija emitidas por Ruta del Maipo Sociedad Concesionaria S.A. (Maipo).

English Version

Colombia

Standard & Poor's confirma calificaciones de 'BBB-' de Bogotá con base en sus continuos superávits, la perspectiva es estable

México, D.F., 17 de noviembre de 2011.- Standard & Poor’s Ratings Services confirmó sus calificaciones en moneda local y en moneda extranjera de ‘BBB-’, incluyendo la calificación de riesgo crediticio, de Bogotá Distrito Capital (Bogotá o el Distrito).

México

Standard & Poor's asigna calificación de 'mxAAA' a la emisión de certificados bursátiles de PEMEX hasta por MXN10,000 millones

México, D.F., 15 de noviembre de 2011.- Standard & Poor’s asignó hoy su calificación en escala nacional –CaVal– de ‘mxAAA’ a la emisión propuesta de certificados bursátiles de largo plazo de Petróleos Mexicanos (PEMEX).

S&P coloca calificaciones de GISSA y del Fideicomiso F/257494 en Revisión Positiva tras anuncio sobre acuerdo de venta de su negocio de fundición de blocks y cabezas

México, D.F., 17 de noviembre de 2011.- Standard & Poor’s colocó hoy sus calificaciones en escala nacional –CaVal– de riesgo crediticio y de las emisiones de certificados bursátiles de largo plazo.

Standard & Poor's asigna calificación de 'mxAAA' a los certificados bursátiles fiduciarios del Distrito Federal (GDFCB 11)

México, D.F., 17 de noviembre de 2011.- Standard & Poor’s asignó hoy su calificación de largo plazo en escala nacional –CaVal– de ‘mxAAA’ a los certificados bursátiles fiduciarios, con clave de pizarra GDFCB 11, por un monto de hasta $2,000

Venezuela

Petroleos de Venezuela S.A. (PDVSA)'s Proposed $2.4 Billion In Senior Unsecured Exchange Notes Rated 'B+'

MEXICO CITY (Standard & Poor's) Nov.14, 2011--Standard & Poor's Ratings Services said today that it assigned its 'B+' senior unsecured debt rating to the $2.4 billion in exchange notes due 2021 proposed by Petróleos de Venezuela S.A.

From The Desk Of Nick Nicolaas - Mining Interactive: Tumi Starts Drilling at La Gloria Gold-Tungsten-Tin Project


November 28, 2011
TUMI RESOURCES LTD.
TSXv - TM; Frankfurt -TUY (WKN 251 738); Pinksheets - TUMIF 
LA TRINI SILVER-GOLD-TELLURIUM PROJECT
‘LA GLORIA’ DRILLING STARTED AT GOLD-TUNGSTEN-TIN PROJECT IN SONORA, MEXICO'
                                                         
Dear Fernando:
The ‘Truth Machine’ is churning - - -  now we sit back and wait for results.


As always - - - Stay Tuned, there is lots of excitement just over the horizon for Tumi!!


Regards from San Francisco,

Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
 
Donna Werbes
(778) 968-1623
donna@mininginteractive.com

Nick L. Nicolaas
(604) 657-4058
nick@mininginteractive.com

Stocks and Markets in the News | Stocks IPOs: Facebook IPO likely in first half of 2012: report

By Alexander Davis, MarketWatch 

SAN FRANCISCO (MarketWatch) — Facebook Inc. is targeting dates between April 2012 and June 2012 for an initial public offering of its stock, according to a Wall Street Journal report Monday that cited unnamed people identified as familiar with the matter.
Facebook is in internal discussions over the timing of its filing with the Securities and Exchange Commission for the IPO, and is considering filing with the commission before year-end, the Journal reported.

Reuters
Facebook CEO Mark Zuckerberg reportedly has not made a final determination on the date of the pre-IPO regulatory filing or the anticipated offering itself.
The report indicated that Facebook Chief Executive Mark Zuckerberg hasn’t made any final decisions regarding an IPO and that the date for a filing with the SEC is still in flux.
The Journal also reported that Facebook, based in Palo Alto, Calif., is exploring raising $10 billion in an IPO that could value Facebook at more than $100 billion.
The final value of the company and how much money it seeks in an IPO will largely be determined by the market and the European economy, people familiar with the matter told the Journal.
By comparison, when Google Inc. GOOG -0.11%  made its stock-market debut in 2004, it was worth $27 billion, and the deal raised less than $2 billion.
Facebook has crafted an internal prospectus and is ready to go public at any time, the report added.
The company hasn’t made any decisions over which banks will be involved in its IPO.
Chief Financial Officer David Ebersman has been leading the company’s talks with Silicon Valley bankers about the planned IPO, the Journal reported.
Alexander Davis is managing editor of MarketWatch, based in San Francisco.

Personal Finance Daily | MarketWatch: How to know if it's time to buy a home


MarketWatch

Personal Finance Daily
NOVEMBER 28, 2011

How to know if it's time to buy a home

By MarketWatch



Don't miss these top stories:

There are six essential questions you should ask before you decide to buy a home or continue to rent in this market, Amy Hoak writes today in her Home Economics column. It's not only a must to closely examine affordability in the housing market; you also need to consider additional costs of home ownership, how long you plan to stay in the house and what your own future holds. It's a great checklist for anyone who's considering taking the plunge while mortgage rates and home prices are low.

With economic growth sluggish and jobless numbers stubbornly high, many Americans don't even have a choice between renting and buying. Adults of all ages have been finding they can no longer afford to live on their own and so they've moved back in with Mom and Dad — sometimes with a spouse and kids in tow — to save money and get back on their feet. Meanwhile, more elderly parents, facing smaller nest eggs and higher health-care costs, are moving in with their adult kids. Read about what's called "boomerang living" in today's Personal Finance section of MarketWatch.

Anne Stanley , Managing Editor, Personal Finance

How to know whether it's time to buy a home

As another year of the housing downturn ends, some are wondering if it finally is more advantageous to buy instead of rent, given discounted home prices and mortgage rates near historical lows.
Read more: How to know whether it's time to buy a home.


When the budget calls for a move back home

Call it boomerang living. With the effects of the lousy employment, stock and real-estate markets taking their toll, adults of all ages have been finding they can no longer afford to live on their own.
Read more: When the budget calls for a move back home.


Auto Review: 2012 Buick LaCrosse

If you're looking for a comfy four-door, Buick's LaCrosse should be near the top of your shopping list.
Read more: 2012 Buick LaCrosse.


TAXES

The tax mess deepens

This week, Congress's special 12-member deficit-cutting committee failed to agree on even a broad outline for addressing the U.S.'s fiscal woes. It marked the third year in a row that taxpayers headed into December with major tax-code issues unaddressed.
Read more: The tax mess deepens.


INVESTING

Investors question, columnist answers

Among the many things Chuck Jaffe says he's thankful for at the holiday season — and all year — are the inquiring minds of readers. Here are a few good questions that popped up after some recent columns.
Read more: Investors question, columnist answers.


Impact investors earn more than good karma

The majority of small, social enterprises aimed at doing good in the developing world are profitable.
Read more: Impact investors earn more than good karma.


Market boosts bears, breaks brave bull

A withering week leaves the bears rampant, and breaks at least one brave bull.
Read more: Market boosts bears, breaks brave bull.


ECONOMY & POLITICS

Consumer debt declines in third quarter

Consumer debt declines slightly during the third quarter as Americans continue to deleverage in the wake of the housing crisis, according to a study released Monday.
Read more: Consumer debt declines in third quarter.


New-home sales barely changed in October

Sales of new single-family homes were barely changed in October and there was little evidence of any improvement in the slumping U.S. housing market.
Read more: New-home sales barely changed in October.


Thanksgiving is the new shopping holiday

This year, stores rolled back opening times to nab an even-earlier shopper. Many opened at midnight. Some were ringing up sales on Thanksgiving day. And it paid off.
Read more: Thanksgiving is the new shopping holiday.


Euro zone weighs tighter fiscal ties

European officials reportedly agree on how to leverage a key rescue fund, while Germany and France are said to be looking at how to deepen fiscal integration in the euro zone.
Read more: Euro zone weighs tighter fiscal ties.

Reuters - Technology Report: Government seizes websites accused of selling fake goods



News

Amazon.com said on Monday it saw a surge in sales of its Kindle devices, helped by its new Kindle Fire tablet, on the crucial "Black Friday" shopping day after Thanksgiving. Consumers bought four times as many Kindles on Black Friday as they did on the same day last year, when the company sold only e-readers, the largest Internet retailer reported.

Twitter has acquired a start-up company that makes software to improve security and privacy for smartphones and other mobile devices. With its acquisition of Whisper Systems, Twitter gains technology to bolster security of its fast-growing microblogging service and gets a pair of highly-respected experts in the field of online security.

Australia's five major ISPs have revealed their plans to crack down on online piracy by sending warning notices to suspected illegal downloaders while assisting rights holders to pursue serial offenders through the courts. The Communications Alliance - which represents Telstra Bigpond, iiNet, Optus, iPrimus and Internode - says its plan protects consumers while respecting the rights of copyright holders, writes ABC News.

The European Commission plans to put a stop to the way Facebook gathers information about its users, including their political opinions, religious beliefs, whereabouts and sexual preferences, and how the social network sells that information for commercial purposes, International Business Times reports.

(Photo above shows a reporter trying a new $79 Kindle tablet at a news conference during the launch of Amazon's new tablets in New York, September 28, 2011. REUTERS/Shannon Stapleton)

LATEST NEWS
Government seizes websites accused of selling fake goods
November 28, 2011 01:37 PM ET
WASHINGTON (Reuters) - Some 150 websites allegedly selling counterfeit goods including shoes, purses, sunglasses and sports jerseys have been seized, authorities said on Monday, coinciding with the Cyber Monday holiday shopping day. | Full Article

Reuters - Daily Investor Update: Exclusive: Regulators doubt MF Global shortfall estimate



News

LATEST NEWS
Wall Street snaps 7-day slide but volume is low
NEW YORK (Reuters) - Stocks rebounded from seven days of losses on Monday as investors used the latest effort from European leaders to resolve the region's debt crisis as an opportunity to cover short positions. | Full Article

Fitch revises U.S. rating outlook to negative
November 28, 2011 04:29 PM ET
NEW YORK (Reuters) - Fitch Ratings on Monday revised to negative the outlook on the United States' AAA credit rating after a Congress committee failed last week to agree on at least $1.2 trillion in deficit-reduction measures. | Full Article
Judge blocks Citigroup-SEC settlement
November 28, 2011 03:40 PM ET
NEW YORK (Reuters) - A federal judge angrily blocked Citigroup Inc's proposed $285 million settlement over the sale of toxic mortgage debt, excoriating the top U.S. market regulator over how it reaches corporate fraud settlements. | Full Article
Exclusive: Regulators doubt MF Global shortfall estimate
November 28, 2011 03:33 PM ET
WASHINGTON (Reuters) - U.S. regulators are privately questioning a bankruptcy trustee's estimate that puts the shortfall in MF Global Holdings' customer funds at around $1.2 billion, a source familiar with the matter said on Monday. | Full Article

Financial and Forex Info News | Kitco New York Market Close Report


New York Market Close Nov 28/11 05:21 PM EST
Metals
Bid
Ask
Change
Low
High
Gold
1709.90
1710.90
29.60
1.76%
1703.00
1722.70
Silver
32.06
32.16
1.08
3.49%
31.54
32.41
Platinum
1539.00
1549.00
15.00
0.98%
1532.00
1571.00
Palladium
577.00
583.00
14.00
2.49%
573.00
600.00

NYT Global Update: Hope Glimmers in Long Lines at Polls in Cairo


TOP NEWS

Hope Glimmers in Long Lines at Polls in Cairo

By ANTHONY SHADID
Along July 26th Street, named for the era of a long-ago revolution, Egypt's divides were bridged, briefly, by the simplest of ideas: a chance at self-determination.

Pressure Mounts for Urgent Action to Avert a Euro Zone Split

By LIZ ALDERMAN AND STEPHEN CASTLE
Warnings grew Monday of danger from political disunity and stasis in Europe.

Syria Calls Arab League Sanctions 'Economic War'

By NEIL MacFARQUHAR and NADA BAKRI
The foreign minister of Syria hinted at retaliation for the steps taken by the Arab League to punish Syria over its repression of the political uprising there.
World

Photographs: Egyptians Await Elections

Egyptians braced for mayhem and disappointment but clung to their hopes for democracy the day before the first parliamentary election since the ouster of President Hosni Mubarak.
Opinion

Op-Ed Columnist

Doctrine of Silence

By ROGER COHEN
On U.S. strategic policy, Obama has gone covert - and made the right call. So why am I uneasy?
WORLD

In Egypt, Long Lines for a Vote Clouded by Army's Role

By DAVID D. KIRKPATRICK
Egyptians turned out in large numbers Monday for their first parliamentary vote since President Hosni Mubarak's ouster, even as military rulers said they would yield little authority to the new legislators.

Youth Leader in Egypt Straddles Line of Revolution and Electoral Change

By NEIL MacFARQUHAR and DINA SALAH AMER
Zyad Elelaimy exults at the passion in Tahrir Square but also urges would-be revolutionaries to give him a chance in a new Parliament.

Power Ceded, Yet President of Yemen Declares Amnesty

By KAREEM FAHIM
The offer is likely to annoy President Ali Abdullah Saleh's opponents, who made a deal to get him out of the spotlight.
BUSINESS

Stocks Jump on Wall Street and in Europe

By CHRISTINE HAUSER and DAVID JOLLY
Markets climbed 3 percent on Monday amid signs that key euro zone countries were closing in on new debt measures.

Judge Blocks Citigroup Settlement With S.E.C.

By EDWARD WYATT
Judge Jed Rakoff said the proposed $285 million settlement over the sale of toxic mortgage debt was "neither fair, nor adequate, nor in the public interest" and ordered a trial.

Greeks Balk at Paying Steep New Property Tax

By SUZANNE DALEY
Many Greeks, especially those on small fixed pensions, said they simply had no means to pay a new tax, which does not take income into account.
TECHNOLOGY
DealBook

Zynga's Tough Culture Risks a Talent Drain

By EVELYN M. RUSLI
A data-driven culture, which has been at the root of Zynga's success, could become a serious liability, several former senior employees warn.

Asset Sale May Be Next for AT&T

By STEVE LOHR
To make buying T-Mobile USA more palatable to regulators, AT&T has to placate the antitrust forces, analysts say.

The Tweets of War: What's Past Is Postable

By JENNIFER SCHUESSLER
A Twitter stream aims to convey what World War II felt like to ordinary people who had no idea how it would end.
SPORTS

Webber Ends Season With a Flourish in 1-2 Red Bull Finish

By BRAD SPURGEON
Mark Webber won the Brazilian Grand Prix on Sunday after his Red Bull teammate, Sebastian Vettel, who had already secured the Formula One title, struggled with a gearbox problem.

The Perverse Talk of Two Top Coaches

By ROB HUGHES
Far from expressing the joy of thrashing its neighbor, José Mourinho lectured the media. And far from conceding anything after a loss, Pep Guardiola said he remains proud of his players.
On Soccer

In Liverpool, Moment of Silence Followed by Impassioned Roar

By ROB HUGHES
Though the owners and most of the players involved in Sunday's match hailed from outside of England, the teams played a hard-fought, quintessentially English-style soccer game.
U.S. NEWS

In Gloomy Economic Times, Santas Learn to Help by Curbing Expectations

By MONICA DAVEY
This Christmas, Santa impersonators said the downturn has meant sizing up parents' finances before responding to children's requests.

Rough Times Take Bloom Off a New Year's Rite, the Rose Parade

By JENNIFER MEDINA
Hard-pressed cities and struggling companies find it hard to justify the expense of floats in a beloved event.

Federal Cuts Give Maine a Chill as Winter Approaches

By ABBY GOODNOUGH
Maine is expecting less than half of the assistance it received last winter from the Low Income Home Energy Assistance Program.
OPINION
Op-Ed Contributor

The Real Lesson of Iraq

By MALFRID BRAUT-HEGGHAMMER
Iraq's nuclear program was not stopped by bombing. Iran's will only be accelerated.