Thursday, March 29, 2012

New rules 'protect countryside'

Greg Clark: "It's very hard for people to engage with the planning system"

The government says that new planning guidelines for England will protect the countryside, boost jobs and "help build the homes the next generation needs".

Planning Minister Greg Clark told MPs the old, complex system "sorely needed" reform, as it had "ground ever slower".

But he said changes had been made to the draft plans and promised to boost town centres - rather than out-of-town shopping - and create "garden cities".

Friends of the Earth has warned of "a building free-for-all".

The revised national planning policy framework was published on Tuesday - and will be implemented immediately by councils with no local plan. There will be some transitional arrangements for councils with existing local plans.

The draft version of the new guidelines reduced the existing 1,300-page document to 52 pages, and the final booklet is just 50 pages long.

Among the amendments, it promises to:

  • Help councils which "wish to bring into being a new generation of garden cities"
  • Allow communities to specify where renewable energy sources such as wind farms should, and should not, be located
  • Allow councils to provide the parking in town centres to "help them compete with out-of-town shopping centres and supermarkets"

In a statement to MPs, Mr Clark said that under old "top-down" targets, communities had begun to see planning as something that was "done to them, rather than by them".

Meanwhile, he said, the average age of first-time homebuyers was "approaching 40" and rents were rising - meaning that families were spending more on housing than on their children.

'Keystone'

Mr Clark said he had accepted, in whole or in part, 30 of 35 recommendations made by the Commons Communities and Local Government Select Committee - including a reference to local plans, drawn up by councils, remaining "the keystone of the planning edifice".

And he said a controversial reference to a "presumption in favour of sustainable development" made clear that that should work through, not against, local plans - and should take into account "social and environmental, as well as economic objectives".

Continue reading the main story

?Start Quote

There are mounting concerns that ministers will unleash a building free-for-all ?

End Quote Craig Bennett Friends of the Earth

The final version made clear that existing policies such as those protecting the Green Belt, sites of special scientific interest, national parks and other areas "cannot be overridden by the presumption", and it would guarantee "robust protections for our natural and historic environment".

It also made "explicit" that councils' policies must encourage brownfield sites to be brought back into use - and allowed them to protect back gardens, while ensuring that "playing fields continued to benefit from the same protection that they do currently".

He said the new framework "will help build the homes the next generation needs, it supports growth to allow employers to create the jobs our constituencies need, it protects what we hold dear, in our matchless countryside and in the fabric of our history".

Critics of last year's draft plans have argued that the "presumption in favour of sustainable development" amounted to a "developer's charter".

The government has been criticised for being too vague about what amounts to "sustainable development" and for saying in the draft plans that the "default answer to development proposals" should be "yes" - unless it compromised "key sustainable development principles".

'Uncertainty and chaos'

Labour's Hilary Benn said the government had made "a mess" of the process, which had done nothing to inspire confidence. Thousands of homes had planning permission but had not been built because of the failure of the government's economic policy, he told MPs.

He welcomed what he called a "U-turn on playing fields and open spaces" but said there should be a national, not local, "brownfield first" policy. He said a planning system should produce homes and jobs but should also protect green spaces, but the new plans "may end up doing neither".

"Far from giving us certainty, there is likely to be delay as developments are held up by appeals and by the courts having to rule on a new and untested approach," Mr Benn said, adding that this would lead to "uncertainty and chaos".

Gerald Kells, CPRE: "Environmental and social aspects should be as important as economic ones"

Opponents of last year's draft plan included the National Trust, the Campaign to Protect Rural England (CPRE) and Friends of the Earth.

Ahead of Tuesday's publication, Friends of the Earth campaigns director Craig Bennett said: "A strong planning system is vital for building the clean economy promised by government, but there are mounting concerns that ministers will unleash a building free-for-all that will infuriate local communities and devastate our countryside."

He said the new regulations "must spell out what is meant by 'sustainable development' - to ensure the right buildings are built in the right place and in the best interests of local people and our environment".

The CPRE has also said it feared the planning changes would not deliver enough affordable homes - one of the key benefits supporters say they will provide.

But Simon Nunn, from the National Housing Federation, said the new regulations were a step in the right direction: "I don't think it's going to unleash a development free-for-all.

"There's a housing crisis in the country, we're only building half the homes that we need. Planning is part of the jigsaw and I think that a positive planning framework combined with the right investment framework will help us."

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/uk-politics-17514730

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Monday, March 26, 2012

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Sunday, March 25, 2012

Mayor Mike Bloomberg says he would be better quarterback than Tim Tebow


	MIAMI - JANUARY 08: Quarterback Tim Tebow of the Florida Gators warms up on the field before taking on the Oklahoma Sooners in the FedEx BCS National Championship Game at Dolphin Stadium on January 8, 2009 in Miami, Florida. (Photo by Donald Miralle/Getty Images)

Donald Miralle/Getty Images

Mayor Bloomberg says he's disappointed the Jets didn't consider taking him over Tim Tebow as Jets quarterback.

FIRST, IT WAS Peyton Manning ? and now Mayor Bloomberg is gunning for Tim Tebow?s job.

Hizzoner, who has been jetting around the Pacific Rim on city business, joked on WOR-AM?s ?The John Gambling Show? Friday that he thought he would be a better choice for Gang Green?s No. 2 quarterback.

?I was hurt . . . because I would have thought that if they wanted to have a backup for Mark Sanchez all they would have to do is call me,? the mayor said.

He comes cheaper that the Heisman Trophy winner.

?I can do it while I?m still mayor. I wouldn?t charge them very much. I work for a dollar a year for the city. I?m sure we could negotiate something,? he said.

And although he?s nearly a foot shorter that the former Broncos quarterback, Bloomberg claims he?s quicker.

?Some of those linebackers, they?re big and they can?t be as quick as I can so they?ll be tripping over themselves,? he said. ?All kidding aside, Tebow is certainly going to make things interesting and breed new excitement.?

Bloomberg called into Gambling on a stop over in Vietnam after a trip to Singapore, where he collected an award, along with a $270,000 prize for the city, for his environmentally friendly policies. He was also promoting an anti-smoking effort abroad with a $220 million donation from his philanthropic foundation.

Source: http://www.nydailynews.com/new-york/tebow-1-bloomberg-article-1.1050138?localLinksEnabled=false

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Idaho among 9 states cited for big insurance hikes | Idaho Business ...

[unable to retrieve full-text content]The U.S. Department of Health and Human Services has listed Idaho among nine states where insurance companies are seeking increases in premiums deemed excessive under new federal guidelines. HHS Secretary ...

Source: http://idahobusinessreview.com/2012/03/23/idaho-among-9-states-cited-for-big-insurance-hikes/

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Saturday, March 24, 2012

A look at recent tech-industry earnings

Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:

Jan. 18: EBay Inc. says its net income grew sharply in the fourth quarter, helped by a gain from the sale of its remaining investment in Skype. Its results beat Wall Street's expectations, boosted by strong holiday sales at its namesake website and growth at PayPal, its online payments business.

Jan. 19: A slowdown in Google Inc.'s earnings growth alarms investors. Net income edged up just 6 percent from the same October-December period in 2010, coming off year-over-year increases of more than 25 percent in each of the previous two quarters.

IBM Corp.'s fourth-quarter earnings handily beat Wall Street's expectations, helped by higher revenue and profit margins in the technology icon's lucrative software and services segments.

Intel Corp., the world's largest chip-maker, says its profit rose 6 percent in the latest quarter, topping analyst expectations, even as hard-drive shortages held back PC makers' chip orders.

Microsoft Corp. battled through a weak PC market to post flat earnings in the latest quarter, boosting sales of servers, Xbox games and its Office productivity software while trimming losses at its Bing search engine.

Jan. 23: Texas Instruments Inc. says it will close computer-chip factories in Houston and Japan in a cost-cutting move that will lay off about 1,000 workers, or about 3 percent of its workforce. Fourth-quarter results topped analyst estimates.

Jan. 24: Apple Inc. reports results that vastly exceeds analyst estimates and sets new records. That came after uncharacteristically tepid sales in the July-to-September quarter. Apple says net income in the latest quarter was $13.87 per share, more than double the $6.43 per share a year ago and above analyst estimates of $10.04 per share.

Yahoo Inc.'s latest financial results show the Internet company is still losing ground in the battle for online advertising. Earnings in the latest quarter were down 5 percent and matched analysts' expectations. However, Yahoo fell short on a key metric. After subtracting advertising commissions, Yahoo's revenue totaled $1.17 billion ? $20 million below analyst projections.

Advanced Micro Devices Inc. reports a loss for the fourth quarter, after the chip-maker wrote down the value of an investment in its former GlobalFoundries unit by $209 million and recorded $98 million in restructuring costs. After excluding one-time items, AMD earned 19 cents per share. Analysts expected the company to report a profit of 16 cents per share.

EMC Corp.'s results for the latest quarter surged past analyst estimates while the forecast for this year called for double-digit growth in earnings and revenue. It's a further sign that the world's largest maker of data-storage computers is benefiting from a shift to cloud computing, in which companies run software and services on remote computers.

Jan. 25: Netflix Inc. says its net income fell 14 percent in the latest quarter, partly because of subscriber defections that followed a price increase of up to 60 percent in the U.S. However, Netflix was able to regain some of the lost U.S. customers to end the year at 24.4 million, up 600,000 from the end of September.

Xerox Corp. says fourth-quarter net income more than doubled as the company put some restructuring behind it and benefited from a freeze on a number of its pension plans. Excluding special items, Xerox earned 33 cents per share, matching analyst expectations.

Specialty glass maker Corning Inc. says its profit slumped 53 percent in the fourth quarter but its revenue rose 7 percent on stronger sales of glass for flat-screen televisions, computers and mobile devices.

Motorola Solutions Inc., which sells communications equipment to government and corporate customers, says its fourth-quarter net income shrank because of the cost of stock-based compensation for employees and other charges. But adjusted results beat expectations as client demand rose.

Jan. 26: Mobile phone maker Nokia Corp. reports a fourth-quarter net loss of ?1.07 billion ($1.38 billion) as sales slumped 21 percent even as the company's first Windows smartphones hit markets in Europe and Asia. The loss, widened by a ?1 billion loss booked on Nokia's navigation systems unit, compares with a profit of ?745 million a year earlier.

Motorola Mobility Holdings Inc. reports a fourth-quarter loss, as it battles competition in the smartphone and computer tablet market. The company released preliminary numbers three weeks ago. Analysts lowered their earnings estimates then when Motorola warned the period would be a letdown.

Jan .27: Samsung Electronics Co. reports a 17 percent jump in fourth-quarter profit on the strength of smartphone sales even as the company battled claims it had copied iPhone. The company, however, reports an operating loss in its display division despite a sales increase of 19 percent from the previous year.

Jan. 31: Amazon.com Inc. says its fourth-quarter net income dropped sharply, weighed down by higher operating expenses as the company continued to invest in its long-term growth plans at the expense of short-term earnings. More surprisingly, revenue grew at a slower clip than Wall Street had expected. The company also gives a disappointing guidance for the current quarter. Investors punish the online retailer's stock.

Feb. 1: Qualcomm Inc., a maker of chips for mobile devices, says profit in the latest quarter rose 16 percent as rising global demand for smartphones boosted sales. The company also raises its outlook for its current fiscal year and says that new 3G and 4G wireless networks should increase its sales opportunities during 2012.

Feb. 8: Cisco Systems Inc., the world's largest maker of computer networking equipment, says net income jumped 44 percent in the latest quarter as it continues to put last year's slump behind it. Cisco has emerged leaner after a round of layoffs and a narrowing of its focus.

Feb. 9: LinkedIn reports a strong fourth quarter as the online professional-networking service added 14 million members. Its net income and revenue beat Wall Street's expectations. The results offer further evidence of online networking's popularity and moneymaking potential as Facebook prepares for an initial public offering of stock.

Feb. 21: Dell Inc. issues fourth-quarter results that are slightly below analyst estimates, as were Dell's revenue projection for the current quarter. The stock price dropped nearly 5 percent

Feb. 22: Hewlett-Packard Co., the maker of PCs and printers, says net income fell 44 percent, while sales fell 7 percent in the first full quarter under new CEO Meg Whitman. Contributing factors included weak demand from consumers and the shortage in disk drives.

Feb. 23: Salesforce.com Inc. reports strong earnings that validated its approach of delivering software and services over the Internet rather than on individual computers. Some of the initial enthusiasm cooled, though, after investors factored in growth from a change in billing frequency.

Monday: Adobe Systems Inc. says its net income fell 21 percent, weighed by higher operating costs even as revenue climbed. Adobe booked $648 million in operating costs in the latest quarter, up 5 percent from a year earlier due to higher sales, marketing and other expenses.

Tuesday: Oracle Corp. says its earnings rose 18 percent despite meager revenue growth during the December-February quarter. If not for acquisition expenses and other costs, Oracle says it would have earned 62 cents per share, soundly exceeding the 56 cents expected by analysts.

Coming up:

Thursday: Research in Motion Ltd.

Source: http://news.yahoo.com/look-recent-tech-industry-earnings-001704437.html

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Friday, March 23, 2012

GraffitiBMXCop: Thank you Computer IT User Support Specialist at Norwich University (in background) .. student Lauren and Boston... http://t.co/dQNA1Rle

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Internet Marketing Tools ? The 2 Of The Most ... - Business - EzineMark

If you are planning to take your small business online, then you should be aware of every aspect of Internet business, marketing and advertising. Without knowing about the core concept, marketing plans and strategies, it is quite difficult for any online business to carry out its daily activities. If you follow the principles correctly and timely, then you would not have any problems in following and understanding of every aspect of Internet business. Here it is highly important to state, that you should also be aware of several Internet marketing tools without which an online business means nothing. Learn every dimension, plan properly, inculcate within your team the passion to market the business online, and you will finally be able to gain success.

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In this articles we will be primarily talking about some basic Internet marketing tools that help businesses to carry out all the activities online.

These tools come as aide to grow, promote and market a business online. However, you should keep in mind not to fall for wrong guidance. A lot of people tend to make you believe in things that go completely against Internet marketing. Not following the correct path results in several pitfalls that prevent businesses to go further with their campaign. The best thing to do is, learn while you rightly experiment. Read recommended books, make them your bible.

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Here are two of the most popular and essential Internet marketing tools that you should never overlook:

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  1. SEO: Or Search Engine Optimization, is surely the most popular and the most confusing Internet marketing tool. Many businesses are seen abusing the usage of this tool over and again. SEO is a dynamic tool that needs in-depth understanding. SEO is a cost effective way of marketing your content and website on the net. There are some methods by which one can optimize the ranking of a website. Link building, article submission, link submission, and some activities on on-page SEO are techniques to help businesses optimize their websites.

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  1. PPC: Or Pay Per Click is even though not a very cost effective method, but has still grown to be very popular amongst many businesses. If you can target PPC ads with the right keywords, then while customers click on those ads, for all you know, they might be buying you products instead. However, one wrong move and PPC campaign can burn a deep hole in your pocket. PPC should be used along with other Internet marketing tools, and never alone.

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Internet marketing tools are aplenty. However, you should which ones to utilize and how. Start implementing them before its too late.

Source: http://business.ezinemark.com/internet-marketing-tools-the-2-of-the-most-popular-ones-7d34d830c48d.html

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Thursday, March 22, 2012

Anxiety boosts sense of smell

ScienceDaily (Mar. 22, 2012) ? Anxious people have a heightened sense of smell when it comes to sniffing out a threat, according to a new study by Elizabeth Krusemark and Wen Li from the University of Wisconsin-Madison in the US.

In animals, the sense of smell is an essential tool to detect, locate and identify predators in the surrounding environment. In fact, the olfactory-mediated defense system is so prominent in animals, that the mere presence of predator odors can evoke potent fear and anxiety responses.

Smells also evoke powerful emotional responses in humans. Krusemark and Li hypothesized that in humans, detection of a particular bad smell may signal danger of a noxious airborne substance, or a decaying object that carries disease.

Their work is published online in Springer's journal Chemosensory Perception. The study is part of a special issue of this journal on neuroimaging the chemical senses.

The researchers exposed 14 young adult participants to three types of odors: neutral pure odor, neutral odor mixture, and negative odor mixture. They asked them to detect the presence or absence of an odor in an MRI scanner. During scanning, the researchers also measured the skin's ability to conduct electricity (a measure of arousal level) and monitored the subjects' breathing patterns. Once the odor detection task was over, and the subjects were still in the scanner, they were asked to rate their current level of anxiety. The authors then analyzed the brain images obtained.

They found that as anxiety levels rose, so did the subjects' ability to discriminate negative odors accurately -- suggesting a 'remarkable' olfactory acuity to threat in anxious subjects. The skin conductance results showed that anxiety also heightened emotional arousal to smell-induced threats.

The authors uncovered amplified communication between the sensory and emotional areas of the brain in response to negative odors, particularly in anxiety. This increased connectivity could be responsible for the heightened arousal to threats.

Krusemark and Li conclude: "This enhanced sensory-emotional coupling could serve as a critical mechanism to arouse adequate physiological alertness to potential insults."

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Story Source:

The above story is reprinted from materials provided by Springer.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.


Journal Reference:

  1. Elizabeth A. Krusemark, Wen Li. Enhanced Olfactory Sensory Perception of Threat in Anxiety: An Event-Related fMRI Study. Chemosensory Perception, 2012; 5 (1): 37 DOI: 10.1007/s12078-011-9111-7

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/jqh8AEc7m9g/120322100317.htm

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Monday, March 19, 2012

Oracle's fiscal 3Q to provide gauge on technology

SAN FRANCISCO (AP) ? Oracle's latest quarterly earnings should provide a peak at just how confident companies have become in the economy by their willingness to spend money on new technology.

WHAT TO WATCH FOR: The report, due out after the stock market closes Tuesday, covers Oracle's fiscal third quarter ? a period spanning December through February. That coincided with the biggest three-month hiring spurt in the U.S. during the past two years. The trend could signal companies aren't as worried about the threat of another recession, encouraging them to increase spending in other areas.

That would be good news for Oracle Corp, which sells software and computer hardware to large companies and government agencies throughout the world.

Oracle stumbled in the quarter the ended in November, largely because several prospective customers decided to delay their purchases. The skittishness raised fears that companies were clamping down on their budgets as government debt problems in Europe threatened to topple a still-fragile economy.

Now that it looks like the economy is in better shape than it was three months ago, analysts and investors will be looking for any signs of other problems that could undercut Oracle's earnings growth. The concerns that Oracle could be grappling with issues that extend beyond the economy have grown since other business technology vendors such as IBM Corp., VMware Inc. and EMC Corp., has posted solid results for their most recent quarters.

Oracle is facing tougher competition from longtime rival SAP, as well as from feisty upstarts such as Salesforce.com Inc. and Workday that are changing the way that companies buy and use software. Salesforce and Workday are among a crop of software makers that offer applications as a subscription service that can be accessed on any device with an Internet connection. The online approach to software, nicknamed "cloud computing," is a departure from the industry's long-established practice of licensing and installing applications on individual machines kept in the buyer's offices.

After initially dismissing cloud computing rivals as an inconsequential novelty, Oracle has started to invest heavily in the concept. Oracle completed a $1.5 billion acquisition of Salesforce.com rival RightNow Technologies in January and has proposed buying Workday rival Taleo Corp. in a $1.9 billion deal expected to close later this year. SAP also has hopped on the cloud-computing bandwagon with a $3.4 billion acquisition of SuccessFactors.

JMP Securities analyst Ross MacMillan isn't convinced Oracle's cloud-computing acquisitions will be enough to prevent a significant number of its customers from defecting to Salesforce.com and Workday. That's one of the reasons he recently lowered his price target on Oracle's stock from $35 to $32.

Oracle shares have been hovering around $30 so far this month.

Oracle can only hope its cloud-computing deals work out better than its $7.3 billion acquisition of Sun Microsystems Inc. By acquiring Sun's line of computer servers in 2010, Oracle hoped to create a one-stop shop for business software and hardware. So far, though, the idea hasn't been widely embraced, partly because some companies don't want to become too dependent on Oracle for all their technology.

The expansion into computer hardware also has soured Oracle's relationship with IBM and Hewlett-Packard Co., which used to promote Oracle's software more enthusiastically. The situation with HP has gotten even worse since its former CEO, Mark Hurd, went to work for Oracle in 2010 after resigning from HP in an ethics scandal.

Coming off the earnings letdown at the end of last year, Oracle management set the bar low for the December-February period.

The company, which is based in Redwood Shores, Calif., warned its sales of new software licenses might be unchanged from the same time last year. At best, Oracle predicted its software sales would increase by 10 percent. New software licenses are closely watched by investors because they generate future revenue for maintenance and upgrades.

Oracle forecast its sales of hardware products would fall by 5 percent to 15 percent from last year.

WHY IT MATTERS: Oracle is the biggest maker of database software, which helps other companies organize information. It also sells many of the applications that help companies do everything from process their payroll to manage their relationships with their customers and partners.

WHAT'S EXPECTED: Analysts polled by FactSet expect earnings of 56 cents per share, excluding charges for past acquisitions and other costs, on revenue of $9.02 billion.

LAST YEAR'S QUARTER: In its fiscal third quarter last year, Oracle posted adjusted earnings of 54 cents per share on revenue of $8.76 billion.

Source: http://news.yahoo.com/oracles-fiscal-3q-gauge-technology-104351101.html

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Sunday, March 18, 2012

Lessor Accounting for Leases | Finance Train

A lessor must capitalize a lease if any of the four lessee conditions for capitalization are present, PLUS BOTH of the following requirements are met:

  1. The lessor can reasonably expect to collect the minimum lease payments; and
  2. The lessor has no material uncertainties regarding the amount of un-reimbursable costs yet to be incurred, as part of the lease agreement.

If these conditions are not met, then the lessor normally must classify the lease as an operating lease.? In reality, it is common for the lessor and lessee to use the same accounting treatment for leases.

Lessor Accounting for Operating Leases

Payments received from the lessee are treated as rental revenue on the lessor?s income statement and the lessor continues to account for the leased asset as a fixed asset on its balance sheet.

Lessor Accounting for Capital Leases

There are two types of lessor capital leases:

  1. Sales-Type Lease: The lessor firm is typically a dealer or manufacturer who leases its equipment rather than selling the equipment outright.? Under a sales-type lease, the lessor will recognize a profit or loss on the sale of the leased product and recognize on-going interest income from the capitalized lease over the lifetime of the lease.
  2. Direct Financing Lease: The lessor firm leases to other companies at cost and the income from the lease is interest income.? An example of this business model would be a financial institution that owns an aircraft leasing unit which leases aircrafts to other companies at a rate the covers the cost of the airplane plus interest.? The income from the lease is recognized as interest income on the lessor?s income statement, representing the lessor?s return on investment in the capital lease.

Classifying a lease as a capital lease or operating lease by a lessor is a materially significant accounting policy, as the balance sheet, the income statement, the statement of cash flows, and key financial ratios will be different under the different methods.

Series NavigationEffects of Leases on Selected Financial Reporting Items for LesseesLessors and Sales-Type Capital Leases

Signup for our email updates and get "Risk Management Essentials" ? free ebook

Source: http://financetrain.com/lessor-accounting-for-leases/

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How To Start A Business Restaurant | Iconomics

Studies have shown that 89% of caf? and restaurant businesses fail within the first five years of opening, and yet the successful hospitality companies are amongst some of the best businesses on the planet! It is possible to look for a heaving restaurant neighboring one that is completely empty; the place is the same, just how can this happen?

The successful restaurant is meeting expectations, whereas the unsuccessful the first is not. In short, only one has been doing their homework! Extensive research and preparation is vital when you start a brand new restaurant business. It is the best way to lay the foundation for achievement; and a business management toolkit could be a useful way to avoid the early pitfalls that many new restaurant businesses succumb.

Obviously, just like any start up business a suitable location must be found, investment and budgets prepared and also the nature of provision needs to be determined. Beyond nevertheless this, the restaurant industry provides a very specific service. When you start a cafe or restaurant business, you have to have a wide range of industry related factors into consideration. This is where a cafe or restaurant management toolkit can be invaluable.

The prosperity of any restaurant business depends on its customers and so to start a brand new restaurant business you have to research the potential market. This will highlight what your client base is going to be and what they will expect. Once this really is determined, you need to draft a highly effective business plan that details your vision whilst incorporating every aspect required for you to definitely start a restaurant business destined for achievement.

The look of the new restaurant needs to be practical, whilst reflecting the requirements of the customers and creating a stylish environment. A cafe or restaurant management toolkit can assist using the smallest details, which can change lives to the success of the new restaurant. Once the design features are determined, the new restaurant business needs to become marketed wisely. This can ensure that the client base are alerted as well as drawn to your new restaurant, to begin its success.

Now you must your customers, you need to keep them. A fundamental element of any successful restaurant business is the restaurant staff. The staff chosen must be motivated, hardworking, meet service standards, and reflect the vision of the restaurant business. They represent the business and optimize sales opportunities. This means that as a restaurant manager, you?ve got a commitment to your customers to be devoted to your staff. A cafe or restaurant management toolkit can help with information about staff incentives and training which will help you to have a regular stream of customers.

When your subscriber base is made, you need to ensure that you gain the optimum revenue possible to build your restaurant a lasting success. This means ensuring new restaurant policies and operations meet industry standards, handling the budget efficiently and securing profit and purchasers. Any successful restaurant business knows how to make certain their clients still spend, and in increasing amounts. A restaurant management toolkit uses the knowledge and knowledge of experts to create you tried and tested methods and documents, which can help you save valuable time.

Armed with extensive research and expert guidance, with all of preparatory requirements in position, you are ready to begin a brand new restaurant business and hang along your road to success.

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Source: http://www.iconomics.info/how-to-start-a-business-restaurant

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Saturday, March 17, 2012

FACT CHECK: Misfires on the campaign trail

Republican presidential candidate, former Pennsylvania Sen. Rick Santorum speaks to an audience at a town hall meeting in San Juan, Puerto Rico, Wednesday March 14, 2012. (AP Photo/Dennis M. Rivera Pichardo)

Republican presidential candidate, former Pennsylvania Sen. Rick Santorum speaks to an audience at a town hall meeting in San Juan, Puerto Rico, Wednesday March 14, 2012. (AP Photo/Dennis M. Rivera Pichardo)

Republican presidential candidate Newt Gingrich and his wife Callista great supporters at the Lake in the Hills Airport, Thursday, March 15, 2012 in Lake in the Hills, Ill. (AP Photo/Daily Herald, John Starks) MANDATORY CREDIT; MAGS OUT; TV OUT

Republican presidential candidate, Rep. Ron Paul, R-Texas speaks at the University of Missouri, Thursday, March 15, 2012, in Columbia, Mo. (AP Photo/Charlie Riedel)

President Barack Obama delivers remarks on energy, Thursday, March, 15, 2012, in Largo, Md. (AP Photo/Pablo Martinez Monsivais)

(AP) ? Rick Santorum says oil drillers in the Gulf of Mexico are being slammed by "worse and worse and worse" delays in getting federal approval even as gas prices go through the roof. Actually, the wait for permits is getting better and better. Newt Gingrich boasts that small donors are powering his Republican presidential campaign. In reality, one deep-pocketed financial angel and other big money people have been doing loads of heavy lifting, too.

The claims of the Republican presidential rivals are not getting the exposure they once did, ever since the crackling series of debates drew to a close. But in smaller venues or turns on TV, the assertions still fly, as do exaggerations, oversimplifications and outright mistakes.

So, too, on the Democratic side. A polished new film from President Barack Obama's campaign, out Thursday night, pushes the gauzy hero worship beyond what has really happened in recounting the auto industry bailout and recovery. Called "The Road We've Traveled," the fundraising film takes Republican front-runner Mitt Romney out of context in the process.

A look at recent claims from the campaign trail and how they compare with the facts:

OBAMA CAMPAIGN on the automakers' recovery: "With business booming, they repaid their loans."

THE FACTS: The General Motors and Chrysler aid has not been paid back in full, and it is unlikely to be, contrary to the film's narrator, actor Tom Hanks.

More than $1 billion of the $12.5 billion Chrysler bailout is not expected to come back to the government. The government has recouped more than $22 billion of its nearly $50 billion GM bailout after agreeing to take stock in return for most of its investment. But the government's remaining stock would have to rise massively in value for taxpayers to get all their money back. If the stock were sold at some recent values, taxpayers would still be out more than $10 billion.

___

SANTORUM, speaking this week in Lafayette, La., a city heavily dependent on the oil and gas industry: The Obama administration "almost put this town under with the moratoriums, the delays in permitting that are getting worse and worse and worse ? and as a result, the ability for the men and women who go out and drill these wells and service these wells, to go out and earn an income, and more importantly for them to get that oil and gas into the shore so we can use it here in this country."

THE FACTS: Permit approval rates are actually getting faster for exploration wells, the type that was being drilled at the time of the BP well disaster in the Gulf of Mexico.

In 2009, before the Macondo well blowout, it took the government 46 days to approve a drilling permit for a new deep-water well. After the accident, the administration imposed a five-month moratorium on new deep-water drilling while it worked on new safety regulations to minimize the risk of another spill. The BP disaster released an estimated 200 million gallons of oil into the water, killing wildlife, soiling sensitive tidal estuaries and beaches, and closing vast areas of the Gulf to commercial fishing.

Once the moratorium was lifted, processing times for deep-water exploratory drilling permits were longer than before the spill ? an average of 97 days.

But contrary to Santorum's claim, the government's performance is improving. Permit approvals are now happening on average in 62 days, more than a month faster. That's 16 days longer than before the spill, but regulatory protections are tougher now.

Santorum also implies that the entire drilling industry was shut because of the moratorium. Yet, the temporary ban only covered wells drilled to explore or produce oil and gas in deep water. Wells already in production were not covered by the moratorium.

___

GINGRICH, emphasizing the importance of small donors to his campaign, at a rally Wednesday in Rosemont, Ill.: "We have over 175,000 donors now. Most of them are small. Over 95 percent of our donors give $250 or less."

THE FACTS: Gingrich's assertion is probably correct on its face, but not too meaningful. In almost all campaigns, the number of small-dollar donors far exceeds the number of major givers. President Barack Obama's campaign, for example, makes a similar boast ? that 98 percent of its 1 million contributors gave small amounts.

A more significant number is how much of the money Gingrich raised came in small denominations and how much in big checks. Federal Election Commission reports show that through Jan. 31, roughly $11.5 million came from donations under $250. That's about 63 percent of Gingrich's total fundraising. For Obama, the comparable figure is nearly 80 percent.

And the whole calculus leaves out the biggest influence on the Gingrich campaign's financial fortunes ? the group Winning Our Future, an independent super PAC that has been running ads supporting him. Of that group's $13.1 million in total contributions, about 75 percent ? or $10 million ? came from just two people: Las Vegas casino mogul Sheldon Adelson and his wife, Miriam.

___

CHICAGO MAYOR RAHM EMANUEL, quoted in the Obama campaign film on Romney's opposition to the auto bailout: "A lot of conventional wisdom wanted to do what Mitt Romney did ? let it go, can't be saved, why put good money after bad?"

THE FACTS: Emanuel, Obama's former chief of staff, joins some of Romney's Republican rivals in twisting the meaning of his 2008 New York Times article opposing the bailout. The article's headline, "Let Detroit Go Bankrupt," has caused Romney plenty of grief, and the film displays it. But his prescription was meant to save the automakers by having them go through bankruptcy, with the government guaranteeing financing afterward and backing up new car warranties. There is plenty of skepticism that such an idea would have worked, given the chaos in private lending institutions at the time, but he never argued that the auto industry could not be saved.

___

ROMNEY on whether Obama is responsible for high gasoline prices, speaking Thursday on Fox News: "Absolutely. He has not pursued policies that convince the world that America is going to become energy secure and energy independent. He held off drilling in the Gulf. He's held off drilling out of ANWR. He said no to the Keystone pipeline from Canada."

THE FACTS: Despite the former Gulf moratorium, Obama's opposition to drilling in the Arctic National Wildlife Refuge and his decision to delay ? not kill ? the Keystone XL project, the U.S. produced more oil in 2010 than it has since 2003, and all forms of energy production have increased. Offshore production alone surged in the first two years of the Obama administration after being on a downward trend since 2003.

Rising energy demand in developing countries, a cold winter in Europe and tensions with Iran have put pressures on the world oil market and are among the contributors to higher gasoline prices that presidents have little if any power to control.

___

VICE PRESIDENT JOE BIDEN, in a speech to autoworkers Thursday in Toledo, Ohio: "One more thing: the president's historic fuel economy efficiency standards that nearly doubled the efficiency of cars, saving the American families $1.7 trillion at the pump, helping free us from foreign oil dependence. "

THE FACTS: Biden is about 13 years ahead of things. The doubling of mileage standards is to be achieved by 2025. Estimated savings at the pump, though considerable, will be partly offset in the showroom, because the standards will add thousands of dollars to the cost of a car.

___

Associated Press writers Dina Cappiello, Jack Gillum, Steve Peoples, Ken Thomas and Jennifer Agiesta contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-03-16-Campaign%20Trail-Fact%20Check/id-b26701b0930346ed81804dbd4390bd29

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World powers urge NKorea to drop satellite launch

North Korea announced Friday it would launch a rocket carrying a satellite next month, sparking widespread condemnation and US threats that it could put much-needed food aid in jeopardy.

The United States, Japan and South Korea said the plan, announced just 16 days after Pyongyang agreed to suspend long-range missile tests in return for the US food aid, would breach a UN ban imposed after previous launches.

Blast-off will be between April 12 and 16 to mark the 100th anniversary of the birth of founding leader Kim Il-Sung, the communist state's official news agency and state television said.

The US State Department called the proposed launch "highly provocative" and a threat to regional security.

And it voiced doubt over whether it could move ahead with providing food aid to North Korea if Pyongyang followed through with its threat.

"Were we to have a launch, it would create obviously tensions and that would make the implementation of any kind of nutritional agreement quite difficult," State Department spokeswoman Victoria Nuland said.

Nuland said that US diplomats told their North Korean counterparts prior to the February 29 agreement that a missile launch would be a "deal breaker."

The surprise deal, under which Pyongyang also promised to freeze its uranium enrichment plant, had raised hopes of eased tensions under the new regime headed by Kim Jong-Un, Kim Il-Sung's grandson, who took over the leadership after his own father Kim Jong-Il died on December 17.

But one analyst said Friday's announcement effectively killed off the agreement, under which the US was to give the hungry and impoverished nation 240,000 tonnes of food over a year.

The last long-range rocket launch on April 5, 2009, also purportedly to put a satellite into orbit, brought UN Security Council condemnation and tightened sanctions.

Pyongyang quit six-party nuclear disarmament talks in protest at the censure and conducted its second atomic weapons test the following month.

The North insists its satellite launches are for peaceful scientific purposes while the US and other nations call them disguised missile tests.

UN Security Council Resolution 1874, passed after the North's second nuclear test, demands that it "not conduct any further nuclear test or any launch using ballistic missile technology".

South Korea's foreign ministry said any launch would breach the resolution and be a "grave, provocative act".

Japan, whose airspace was overflown by the 2009 rocket, also said a launch would violate UN decrees and it would "strongly demand self-restraint".

China, the North's main economic benefactor, urged "all parties to play a constructive role" in keeping peace on the peninsula and fellow UN Security Council permanent member Russia also voiced concerns.

UN Secretary General Ban Ki-moon called on North Korea not to carry out the rocket launch. A spokesman said Ban was "seriously concerned".

The North said a Unha-3 rocket will launch a home-built polar-orbiting earth observation satellite known as Kwangmyongsong-3.

Repeating its arguments of 2009, it said such satellites assist economic development and are in line with the peaceful use of space.

The launch "will greatly encourage the army and people... in the building of a thriving nation", it added, as it prepares a mass celebration for the April 15 centenary and the young Kim tries to burnish his image as a strong leader.

"A safe flight orbit has been chosen so that carrier rocket debris to be generated during the flight would not have any impact on neighbouring countries," it said.

The North said the rocket would be launched southward from a new site it has been developing at Tongchang-ri in the northwest tip of the country.

The Unha-3 is known outside the North as the Taepodong-3 and is theoretically capable of reaching US territory, said Baek Seung-Joo of the Korea Institute for Defence Analyses.

Kim Yong-Hyun, of Seoul's Dongguk University, said the North would insist its launch was for peaceful scientific purposes and unrelated to the missile test moratorium.

But Daniel Pinkston, Seoul-based analyst with the International Crisis Group, said the announcement means the February agreement with the United States "is pretty much dead".

Source: http://news.yahoo.com/n-korea-says-launch-rocket-next-month-045214398.html

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Friday, March 16, 2012

With Gas Prices Rising, Should President Obama Tap the Strategic Petroleum Reserve?

Barack Obama likes to say that as President of the United States, he doesn't "bluff" when it comes to foreign policy. But when it comes to energy, it looks like Obama might be willing to try the occasional fake out.

Yesterday Reuters reported Obama and British Prime Minister David Cameron discussed the possibility of releasing emergency oil reserves during a meeting on March 14. Opening up the reserves would presumably help reduce oil prices -- which have stayed well over $100 a barrel in part because of concerns over conflict with Iran -- and take some of the political pressure off President Obama, whose poll numbers have wavered as gas prices have risen. While talk of using the Strategic Petroleum Reserve (SPR) -- the 696-million barrel oil stockpile stored along the Gulf Coast -- has buzzed among energy analysts for the past few weeks, the Reuters report was the first concrete sign that a release could be coming, and it was enough to force oil prices down for the third time in four days.

Or maybe not so concrete. White House Press Secretary Jay Carney later denied the report. But many analysts believed White House officials may have put out the news as a possible trial balloon, to see the impact even the hint of a release would have on oil markets. The response makes it that much more likely that Obama -- for the second time in his Administration -- will turn on the taps of the SPR. But should he?

MORE: How to Clean Up the Mess

The SPR was created in 1975 as a hedge against severe oil supply disruptions -- just like the 1974-75 Arab oil embargo that preceded the reserve's creation. The idea is simple: if there is a sudden reduction in oil supply, the U.S. can release oil from its own stockpiles to smooth our the global markets and reduce the risks of major price spikes. So far it's been tapped five times:

  • President George H. W. Bush released reserve oil during the runup to the first Gulf War -- in anticipation of supply disruptions from Operation Desert Storm.
  • In 1996 the Republican-controlled Congress required two separate sales of reserve oil to raise money to reduce the federal budget deficit.
  • President George W. Bush released oil in 2005 after Hurricanes Katrina and Rita badly damaged offshore production in the Gulf of Mexico.
  • And last year President Obama released 30 million barrels of oil from the reserve to offset supply disruptions due to the Libyan civil conflict. That move was done in conjunction with the release of another 30 million barrels from the stockpiles of the nations that make up the International Energy Agency (IEA).
Here's the question: do rising gas prices -- now inching towards $4 a gallon -- that have been goosed by fears over a conflict with Iran justify releasing oil from the SPR? After all, there haven't been any severe supply disruptions yet -- essentially traders are pricing in a risk premium to crude now, knowing that any war with Iran could lead to a sudden loss of 2.2 million barrels of oil a day, the amount that Iran exports. That would send prices skyrocketing -- and if Iran were to somehow block the Strait of Hormuz, through which 17 million barrels of oil flows each day, that would even more catastrophic. But those are possible events -- right now, the oil is still flowing.

MORE: The White House Releases Oil From the Strategic Petroleum Reserve. Is That Strategic? UDPATE

Nonetheless, Daniel Weiss of the liberal think tank Center for American Progress thinks Obama should open up the taps:

Reserve oil sales reduce oil and gasoline prices. For instance, last year the administration announced its sale of SPR oil on June 23 with completion on September 30. The IEA sale occurred during this time too. From the time of the announcement to the time of final sale, the price of West Texas Intermediate crude oil dropped by 17 percent, while the price of gasoline fell by 6 percent. Such a decline would reduce $4 per gallon gasoline to $3.76 per gallon.
There's little doubt that tapping the SPR would reduce gas prices in the short-term, if only because it would sting speculators who've been betting billions on continued high prices. And since Obama is coming under a lot of pressure from both the public and Republicans to do something about gas prices, it's probably inevitable that he'll tap the SPR, if only because he otherwise has virtually no tools at his disposal. That's what Steve Levine of Foreign Policy thinks:
Look for President Barack Obama to order a significant release of oil from the Strategic Petroleum Reserve, the emergency stockpile held by the federal government. At most, it may trigger a short-lived drop in today's high gasoline prices. But Obama is battling history: Since Richard Nixon, gas prices have snuck up and startled otherwise occupied presidents, and led them into a flurry of actions that, while usually ineffective, have the virtue of making them look like they are doing something. Now is Obama's turn at the rite.
The truth is, though, a release from the SPR is a short-term solution -- and just that. Oil prices have been rising because of worry over the Middle East, but demand from fast-growing developing countries like India and China is also pushing up price. Even with new sources like U.S. shale crude, the global oil industry will struggle to keep pace with demand into the future, which means we could be facing elevated prices for the forseeable future. There are solutions -- improved efficiency to blunt the impact of high prices, greater production from new sources -- but as Obama himself has said repeatedly, "there is no silver bullet." And that's not a bluff. Bryan Walsh is a senior writer at TIME. Find him on Twitter at @bryanrwalsh. You can also continue the discussion on TIME's Facebook page and on Twitter at @TIME

View this article on Time.com

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Source: http://news.yahoo.com/oil-president-obama-tap-strategic-petroleum-081000637.html

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Video: Maria's Market Insight: Big Focus on Bank Stocks

CNBC's Maria Bartiromo discusses the day's top business and financial stories, and looks ahead to tomorrow's Closing Bell.

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Thursday, March 15, 2012

War film maker Pierre Schoendoerffer dies at 83

PARIS (AP) ? Pierre Schoendoerffer, an Oscar-winning French filmmaker who was held prisoner in Indochina and chronicled the pain of war on screen and on the page, has died. He was 83.

The French military health service confirmed that he died Wednesday. France's Le Figaro newspaper said Schoendoerffer died in a hospital outside Paris after an operation.

"France will miss him," President Nicolas Sarkozy said in a statement that praised the "legendary filmmaker and novelist" for risking his life for France and "helping us better understand our collective history."

Born in central Franceo on May 5, 1928, Schoendoerffer served as a cameraman in the French army in the 1950s and volunteered to be parachuted into the besieged fortress of Dien Bien Phu, where the decisive battle of the French war in Indochina was fought.

When the stronghold fell to the Vietnamese guerrilla army in May 1954, Schoendoerffer was captured and spent four months in a POW camp before being repatriated.

After the war, Schoendoerffer became a war correspondent in Algeria, and also worked in Malaysia, Morocco, Yemen and Laos.

He first gained fame as a film director for the gritty realism of his 1965 film "The 317th Platoon," which traced of a doomed group of French and Laotian soldiers retreating through the jungles ahead of the final rebel offensive in 1954. Critics have described the black-and-white film as a masterpiece among war movies in general, and among the best Vietnam War films ever made.

Schoendoerffer also made his mark as a screenwriter for his 1975 film "Drummer Crab" ? based on a book he wrote by the same name ? and the 1982 film "A Captain's Honor."

In 1991, he returned to Vietnam to film "Dien Bien Phu," a big-budget docudrama about the 55-day battle that ended France's colonial rule in Indochina and marked the start of the U.S. involvement there.

Schoendoerffer won an Academy Award in 1968 for his documentary "The Anderson Platoon," filmed in Vietnam.

In honoring Schoendoerffer, Sarkozy's office referred to this year's Oscar success of the French-directed film "The Artist."

"At a moment when our cinema is triumphing in the world, the chief of state salutes, in Pierre Schoendoerffer, one of the very rare French directors who, thanks to the universality of his message, won an Oscar."

___

Slobodan Lekic in Brussels contributed to this report.

Source: http://news.yahoo.com/war-film-maker-pierre-schoendoerffer-dies-83-123328271.html

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Wednesday, March 14, 2012

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Stock Market Investing, The Case for Spitting into the Wind :: The ...

The Economic Rot Beneath FREE REPORT

?

Stock-Markets / Stock Markets 2012 Mar 13, 2012 - 07:13 AM

By: Money_Morning

Stock-Markets

Best Financial Markets Analysis ArticleShah Gilani writes: You've heard the expression "You don't spit into the wind," haven't you?

Well, it's true when it comes to trading and investing, too. You keep the wind at your back, and you don't give up easy profits by bucking the trend.

That's all well and good, so long as the wind is coming from a discernible direction. I prefer a warm southwest breeze myself. That's why I live where I live (in Miami).

But we have no control over the many ill winds that blow over our investing horizons.

The best we can do is stay aware of subtle shifts in directional changes, and watch out they don't strengthen into hurricane-force monsters.

I've been cautiously (too cautious, I admit) bullish since October, and I remain optimistic that stocks have enough momentum to try and push through important psychological barriers - such as 13,000 on the Dow, 1,375 and 1,400 on the S&P 500, and 3,000 on Nasdaq.

That doesn't mean we won't see a correction first. Or that last Tuesday wasn't a tiny correction in and of itself.

But 30 years of hardcore trading, and catching every major move in that long time span (no, I hardly ever pick the exact top or bottom, but I have come close) has taught me to go with my gut, to know when I "blink" that it means something.

And lately, I'm starting to "blink" more and more...

I'm getting the feeling that something's wrong, and, somewhere, the eye of a terrible storm could be forming. There's nothing out there that I've read (and I read a lot), or heard, or come across in any research, either quantitative or fundamental, that articulates what this nagging feeling is that's hanging over markets.

So, it looks like I'll have to be the one to put it out there.

But first let me be clear. I'm not spitting into the wind here. I'm still going with the path of least resistance.

What I am doing is presenting the backdrop of what people have lost sight of as they look front and center on the investing stage.

Am I saying the eye of a hurricane is forming? No. I'm saying it already has formed.

I'm saying keep buying cautiously and keep raising your stops as markets go higher, if they do. I'm saying keep watching these developments with me.

Things change, and this brewing storm could dissipate, but it could also turn really ugly, really quickly.

If the storm strengthens, and that's my bet, have a fail-safe plan to get out of speculative long positions, a plan to selectively add to core positions on the way down, and a plan to put on short-side positions that will make you a ton of money if I'm right.

Okay, ready?

Here's where the winds have shifted...

Where the Winds Have Shifted
Structural changes in markets worldwide have occurred. Electronic trading has changed everything.

In the old days, there used to be market-makers. (I was a market-maker on the floor of the CBOE and an over-the-counter "OTC" market-maker.) The job of market-makers is to make a two-sided market in a stock or other instrument. In other words, you have to be willing to buy at a posted price and sell at a posted price, your posted price.

Specialists on the New York Stock Exchange are the best examples of market-makers. Back in the day, when all orders for a stock that was only traded on the NYSE came down to the floor, the specialist in that stock kept a "book" (it used to be an actual leather book) on that stock. In it were all the buy and sell orders from all over the world. In addition to keeping the book, the specialist also made a market, meaning he or she could set their own price inside the public's quoted bids and offers to narrow spreads and transact for their own accounts. As they traded the stock they were specialists in for themselves - they still are.

Then electronic trading took hold.

Instead of just one place where one stock was traded, there are now many different exchanges or electronic platforms where stocks are traded.

The need for market-makers has disappeared as individual traders put their own buy or sell orders down wherever they want, or where their trading platforms direct them (in most cases).

In other words, there are no market-makers keeping fair and orderly markets. Bids and offers coming into electronic venues from across the globe constitute what the market is (the bids and offers) for any instrument.

At the same time that electronic trading was growing, decimalization replaced the system of trading stocks in sixteenths and eighths of a dollar. Now everything trades in one-penny increments.

The combination of electronic trading and decimalization decentralized trading and made it much more volatile.

Essentially, the unintended consequence of changing basic market structures scared off long-term investors looking for stability... and replaced them with a frenetic trading crowd that now includes non-professional (though they think they are) day-traders and non-professional speculators who tend to jump onto trends (usually as they are peaking) once they are the hot new game in town.

Of course, these non-professionals are a drop in the bucket compared to the "professional" crowd that has exploded to get into the very lucrative game of trading volatility.

Keep in mind: Volatility is anathema to investors, but manna from heaven to traders.

Into this mix of structural changes, we have to add the hugely popular and massively traded derivatives universe. Most individual investors will never touch these instruments directly, but they are constantly affected by them, one way or another.

So we have a market that moves on thin volume, because investors are more inclined to be traders, ourselves included.

Skeleton Market Tends to Get Crushed

As spreads have narrowed because of decimalization and electronic trading, so have time horizons for holding stocks and reasons to hold them.

What we have are rising markets based on short-term assumptions that are not underpinned by long-term investors willing to add to core positions if markets correct.

Because the market structure now resembles a skeleton, as opposed to a fully complemented living organism, overhead weight or sideways winds can crush it or blow it apart.

Innumerable research reports and white papers (they will make you blue in the face if you read them all) support exactly what I'm saying -- that markets are a shell game these days.

Here's the latest support for what I'm telling you.

How is it possible that less than $1 billion flowed into domestic-stock mutual funds since the beginning of 2012, but the value of Wilshire 5000 index (an index as broad as they come) rose by $1.5 trillion?

Where is the increase in value (share prices) coming from if there is no meaningful capital flow into stocks?

Starting to get my fear?

As speculators go after stocks, they take smaller and smaller bites of what's being offered for sale. That's because there are not a lot of sellers. There aren't a lot of sellers, because there aren't a lot of long-term holders in the first place.

The sellers that present themselves (especially short-sellers) aren't offering a lot of stock. So, if you want to buy, you take what's offered, and step up and take the next higher price, and so on, and so on. You might end up buying not a lot of stock, but you might have moved the price up a good bit. Everyone sees that, and thinks, great, stocks are rising.

But, where's the beef?

ETFs have added to the speculative fever. But, again, what are ETFs other than mutual funds that trade like stocks? And where has the $16.4 billion that's gone into ETFs since December gone? Mostly into bond funds, believe it or not.

What I'm worried about is that this shell game faces a headwind that shatters the illusion of huge numbers of investors holding onto core positions. They aren't.

When a macro event happens -- and one will -- will speculators, hedge funds, and high-frequency traders step in at lower levels perceiving value? Will investors come off the sidelines and finally get involved? Or will they climb on board this rising shell game, only to get spit out when the day of reckoning comes?

Massive liquidity has floated speculation for the past three years. We'll see what happens next.

As far as Greece goes, PLEASE, don't be fooled.

Tuesday's sell-off was about Greece not getting its bond swap. It got it. Now, good luck with that... On Thursday, I'll tell you the truth about what really happened and what's going to happen next over there. It ain't pretty.

So, for those of you looking to jump onto Europe's gleaming prospects now that the Greek debt crisis is resolved, go ahead. Just don't spit into the wind when it comes.

And the wind is stirring.

[Editor's Note: If you're looking for some sound advice on the direction of the markets then you need to read Shah Gilani's Wall Street Insights & Indictments newsletter.

As a retired hedge-fund manager, Gilani opens the doors on Wall Street's private money club -- where his experience and knowledge uniquely qualify him as an expert on the markets.

Bull market or bear, Shah knows how make money in any market.

Please click here to find out more about Shah's free newsletter.]

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