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Oct 24, 2012

Business in Vancouver Special Report for Small Business by BIV news team -October 24, 2012-.

  Special Report for Small Business by BIV news team

The report includes great advice to help business owners drive their revenue and strategy forward. Topics include: Sales, Social Media, Marketing, Technology, Franchising, Location, Time Management and Human Resources.
The full report can be viewed online as an e-book at:

Or downloaded as a PDF here:

GATA | THE GATA DISPATCHES -October 24, 2012-: Germany's gold reserves | Gold and Siver Crucial to the liberation of all markets | Western Banks and their enorrmous secrets about gold | China knows gold market is rigged

Max Keiser interviews Lars Schall about Germany's gold reserve

3:45p CT Wednesday, October 24, 2012

German financial journalist Lars Schall, whose questioning of Western central banks about their secret activity in the gold market was called to your attention today --

-- was interviewed about the German gold reserve and the secrecy around it last week on Max Keiser's "On the Edge" television program on PressTV. The interview is 23 minutes long and it is posted at YouTube here:

DealBook Afternoon Edition -October 24, 2012-: U.S. Sues Bank of America for $1 Billion Over 'Brazen' Fraud

Ex-Goldman Director Gets 2 Years in Insider Case Rajat K. Gupta was sentenced for leaking boardroom secrets to the former hedge fund manager Raj Rajaratnam.
    U.S. Sues Bank of America for $1 Billion Over 'Brazen' Fraud The bank is accused of selling bad mortgages to Fannie Mae and Freddie Mac, the government-controlled housing giants, which suffered heavy losses and many foreclosures.
    Oops! Can I Take Back That Earnings Release? Just a few days after Google's earnings were inadvertently released ahead of schedule, Dow Chemical and Daimler both found themselves in similarly awkward positions.
    The Rules: For Whom Golden Parachutes Shine Lucian A. Bebchuk says that golden parachutes do indeed have a beneficial effect on acquisitions. But companies with golden parachutes fail to deliver for their shareholders, the author writes.
    Visa Names JPMorgan's Scharf as Its New Chief Charles W. Scharf, a former head of JPMorgan Chase's vast retail arm, will take over as Visa's chief executive once Joseph W. Saunders, the company's current leader, retires next year.
    Nike to Sell Umbro Brand to Iconix for $225 Million The deal comes five months after Nike announced it would sell both Umbro and the Cole Haan lifestyle brand in a streamlining effort.
    KDDI and Sumitomo in Joint Bid for Japanese Cable Firm The Japanese companies KDDI Corporation and Sumitomo Corporation have offered to pay $2.7 billion for the piece of a domestic cable operator, Jupiter Telecommunications, they do not already own.
    Economic Reports Data to be released on Thursday will include weekly jobless claims, durable goods for September and pending home sales for September.
    Corporate Earnings Companies scheduled to report quarterly results on Thursday include Aetna, Altria, Biogen Idec, Colgate-Palmolive, ConocoPhillips, Credit Suisse, Daimler, Dow Chemical, Eastman Chemical, International Paper, JetBlue Airways, New York Times, Procter & Gamble, Raytheon, Sprint Nextel, Apple and
    In the United States On Thursday, Microsoft will introduce Windows 8, the latest version of its operating system.
    Overseas On Thursday, an International Trade Commission judge will release his findings in a patent infringement case between Apple and Samsung concerning the design of the iPhone, its user interface and headset plugs. 
    DealBook Video
    Business Day Live: Credit Card Data Breach at Barnes & Noble Stores
    Business Day Live: Credit Card Data Breach at Barnes & Noble Stores Hackers attack Barnes & Noble. | Safety of some energy drinks becomes a concern. | Selling coffee in a Starbucks world. | Corporate America's wariness over the economy.


The New York Times | Breaking News -October 24, 2012-.: Rajat Gupta, Ex-Goldman Director, Gets 2 Years in Insider Trading Case

Breaking News Alert
The New York Times
Wednesday, October 24, 2012 -- 4:27 PM EDT

Rajat K. Gupta, the former Goldman Sachs and Procter & Gamble director, was sentenced to two years in prison on Wednesday for leaking boardroom secrets to the former hedge fund manager Raj Rajaratnam.

Mr. Gupta, 63, who ran the consulting firm McKinsey & Company and served as a top adviser to the foundations of Bill Gates and Bill Clinton, is the most prominent figure to face prison in the government’s sweeping crackdown on insider trading.

Read More:

Corrected Wall Street at Close Report | MarketWatch -October 24, 2012-: U.S. stock indexes add to prior day’s fall

By Kate Gibson, MarketWatch 

NEW YORK (MarketWatch) — U.S. stocks fell modestly Wednesday, extending losses that had Wall Street slammed the prior session, as quarterly earnings had investors taking a cautious stance.
Wall Street’s fall comes amid “continuing disappointment with earnings. It’s mostly in the top-line numbers, or revenues from multinationals doing business overseas,” said Brad Sorensen, director of market and sector analysis at Charles Schwab’s Center for Financial Research.
The Dow Jones Industrial Average DJIA -0.19%  closed at 13,077.34, off 25.19 points, or 0.2%, after rising as much as 52 points and falling 28. 

Erasing gains, Boeing Co. BA -0.15%  fell 0.2% after the airplane maker and defense contractor raised its 2012 guidance. Read: Boeing clears market turbulence. 
The S&P 500 index SPX -0.31%  shed 4.36 points, or 0.3%, to 1,408.75, with utilities the heaviest weight and health care faring best among its 10 major sectors. 

“We were up 14.7% from the June lows to the September peak, since then we’ve given back 3.4%, so as bad as yesterday feels and the earnings season is going, we’re not exactly in a freefall, but in a much-needed consolidation,” said Art Hogan, equity strategist at Lazard Capital Markets. 

Of the 187 S&P 500 SPX -0.31%  companies that have reported quarterly earnings so far, 70% beat earnings estimates and 60% missed revenue estimates, said Hogan, adding: “We’re not having a bad earnings season, but a bad revenue season.” 

The Nasdaq Composite COMP -0.29%  fell 8.76 points, or 0.3%, to 2,981.70.
Data signaling improvement in the housing sector and earnings from Dow Chemical Co. DOW +4.66%   had helped lift sentiment in the early going. 

“With the economy as weak as it’s been, the Fed is providing some support for a real estate market that is starting to show some strength; that money has to flow somewhere, and some of that should go to asset prices,”” said Bruce McCain, chief investment strategist at Key Private Bank. 

“The flip side is what we saw yesterday; clearly it has not been the best of earnings seasons. We could give way to some sort of a broader correction, as we still have not seen anything significant that way,” said McCain. 

The Federal Open Market Committee’s policy decision Wednesday afternoon had the Federal Reserve sticking with its monthly purchases of $40 billion in mortgage-backed securities until the labor market shows substantial improvement. 

Other than noting a slight pickup in inflation, the central-bank statement “was a non-event as the Fed took a breather after their moves in September,” emailed Peter Boockvar, equity strategist at Miller Tabak. 

Netflix Inc. NFLX -11.88%  retreated 12% after the online-video service reduced its outlook for domestic growth. 

Facebook Inc. FB +0.69% leapt 19% after the social-networking company reported sales that topped market expectations. Read: Facebook shares surge on ‘mobile mojo.’ 
Decliners ran just ahead of advancers on the New York Stock Exchange, where 416 million shares traded as of 3:15 p.m. Eastern. Composite volume neared 2.6 billion. 

“The biggest change in the market over the last several days started at about lunchtime Thursday when Google [Inc.] GOOG -0.45%   announced, and we stopped thinking about macro issues and switched to micro,” said Lazard’s Hogan. 

Facebook earnings beat estimates MarketWatch's Christopher Noble and Benjamin Pimentel discuss Facebook's earnings report that modestly beat Wall Street expectations with accelerating advertising revenue. 
Oil prices declined for a fifth session, with crude futures CLZ2 -1.07%  down 94 cents at $85.73 a barrel on the New York Mercantile Exchange. 

Figures from the Commerce Department had new-home sales rising in September to a more than two-year high. Read: Sales pace of new homes highest since April 2010.
A survey released Wednesday by financial-data provider Markit found U.S. manufacturing improved some this month from September. 

Equities were also lifted by a survey indicating Chinese manufacturing contracted less than thought. Read: China factory data add to ‘soft landing’ view. 
On Tuesday, U.S. stocks declined sharply, with the Dow taking its worst single-day hit in four months, as weaker earnings and worries about Europe increased concern about the global economy. 

Kate Gibson is a reporter for MarketWatch, based in New York.

The New York Times | Politics -October 24, 2012-: Turning the Page on an Open Checkbook for the Security Colossus

The New York Times

October 24, 2012


The Agenda

Turning the Page on an Open Checkbook for the Security Colossus

A budget crunch and waning fears of an attack may bring cuts in security spending, but ending even the most marginal programs will not be easy.
The Caucus

Obama Kicks Off Nine-State Campaign Tour

The president begins a final burst of campaigning to try to win re-election.

More Politics

The Caucus

Obama Camp Seizes on Republican's Rape Remarks

Republicans struggled to prevent an Indiana Senate candidate's comments on rape from brewing into a firestorm, pushing back on any suggestion that he had condoned rape in a debate.
President Obama kept up attacks on Mitt Romney in Delray Beach, Fla., on Tuesday, a drive that Mr. Romney called desperate.

With Debates Over, Candidates Race to Clinch Vital States

President Obama began a furious two-week effort to beat back a late surge by Mitt Romney and hang on to battleground states where many voters are already casting ballots.

Standard of Living Is in the Shadows as Election Issue

A decade-long stagnation in family incomes, a bedrock issue for the nation, has been caused by automation and globalization, among other factors not easily remedied in Washington.

Editing Bolsters Obama's Role in SEALs Film

The drama "SEAL Team Six," about the raid that killed Osama bin Laden, was edited to give a starring role to the president. It will be shown on television two days before the election.
A billboard in Florida shows President Obama bowing to a Saudi king and blames him for soaring gasoline prices.

Strident Anti-Obama Messages Flood Key States

Conservatives are testing the boundaries of how far they can go to disqualify President Obama.

The Caucus

White House Releases Transcript of Talk With Des Moines Register

The White House reverses course after it initially said a conversation with President Obama was off the record.

Indiana Senate Candidate Draws Fire for Rape Comments

The delicate issue of pregnancies resulting from rape rattled another campaign for the Senate when Indiana's Republican Senate nominee, Richard Mourdock, said a life conceived by rape "is something that God intended to happen."

What Obama Said About Immigration in His Off-the-Record Interview

In the interview he gave this week to The Des Moines Register, the president used his perceived anonymity to explain why he thinks the political calculus will make it possible for him to overhaul the nation's immigration laws next year.

How Bill Clinton May Have Hurt the Obama Campaign

It was Mr. Clinton who forcefully argued to Mr. Obama's aides that the best way to go after Mitt Romney was to peg him as a "severe conservative," rather than as an inauthentic climber who would say anything to get the job.

Election 2012 iPhone App

A one-stop destination for the latest political news, from The Times and other top sources around the Web. Plus opinion, polls, campaign data and video.
Why Arizona Isn't a Battleground State (and Why It May Be Soon)
Arizona leans Republican but could become more Democratic if the state's Hispanic voters flex their political muscle.


The Ad Campaign
Video Feature: Obama and Romney Offer Competing Visions in Dueling Ads
Ads for President Obama and Mitt Romney each tried to make the most persuasive case for the presidency.
Video Feature: Attack. Then Attack Some More.
A few examples of the negative ads in 2012 House races from outside sources.
Interactive Feature: The Third Presidential Debate
Follow along with this interactive replay of the final debate, using fact-checks and graphics to take a closer look at attacks and assertions by President Obama and Mitt Romney.
Video: Presidential Debate Analysis
Highlights and analysis of the third presidential debate between President Obama and Mitt Romney at Lynn University in Boca Raton, Fla.

NFA Investors Information -October 24, 2012-.

National Futures Association

Business in Vancouver | BIV Today's Business News -October 24, 2012-: Pipeline protesters target MLA offices across B.C.

Mining and Energy

Protesters outside MLA office, credit: CBC

Pipeline protesters target MLA offices across B.C.

Anti-pipeline protest are planned today outside MLAs’ offices in 63 communities across the province, following Monday’s Defend Our Coast rally in Victoria, according to media reports.

Real Estate and Development


Vancouverites are only Canadians to expect home price declines: BMO

BMO’s first Housing Confidence Report has found that Vancouverites are the only Canadians to expect home prices to decline.

Retail and Manufacturing


YVR outlet mall likely to move closer to Canada Line

The 340,000-square-foot outlet mall that the Vancouver International Airport Authority (YVR) and McArthurGlen Group plan to build on Sea Island is likely to move closer to the Canada Line’s Templeton Station than originally proposed.

Dollar store boom continues

The sluggish economy continues to fuel demand for dollar stores, according to mall managers and dollar store executives.

Mining and Energy


Teck slashes spending as profit falls

Vancouver-based Teck Resources Ltd. (TSX:TCK.B) this morning announced plans to defer approximately $1.5 billion in capital spending this year and next, and slash operating spending by at least $200 million.

Media and Marketing

D&M Publishers files for creditor protection

Vancouver-based D&M Publishers Inc., which includes Douglas & McIntyre, has announced plans to restructure under creditor protection.

Getting the most out of

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The Economist | New Selected Articles October 24, 2012-: Cars, pagodas and cheerleaders

The EconomistNew on

Schumpeter: Forward and reverse
As Peugeot gets a bail-out, Ford faces up to the need to make cuts in Europe's ailing market
read more »
Banyan: War among the pagodas
An ugly conflict in Myanmar pitting two minorities against one another is getting uglier still
read more »

Democracy in America: Consider the cheerleaders
What a hullabaloo over high-school pom-pom wavers says about religious expression in America
read more »

Blighty: The Eton irrelevance
It may not seem like it, but social class has never been less politically salient in British politics
read more »
Johnson: English where she is spoke
A big survey of English abilities around the world reveals some fascinating detail
read more »
Prospero: Car crash
Walter Salles's adaptation of Jack Kerouac's novel "On the Road" is not very satisfying
read more »
Daily chart: Fun with tax
How taxation by government has changed
read more »
Online debate: Manufacturing trends
Does "reshoring" predict a shift in manufacturing from East to West? Read the closing arguments
read more »