Business leaders warn of Christmas sales meltdown

Business leaders warned of a Christmas sales meltdown today after a bigger than expected fall in high street sales in the first half of November.

A 46 per cent balance of retailers said sales were below a year ago, while 40 per cent predicted worse to come next month, the CBI business group's distributive trades survey found.

The gloom caps a week which has seen Woolworths and MFI crash into administration and disappointing updates from other big names such as Currys' owner DSG International.

Andy Clarke, chairman of the CBI's distributive trades panel, said: "Christmas is going to be extremely tough this year, with retailers having to work harder than ever to keep the tills ringing."

The CBI's survey was carried out between October 28 and November 12 - although the Bank of England slashed interest rates by 1.5 per cent to 3 per cent on 6 November.

Chancellor Alistair Darling also attempted to kick-start high street spending with a temporary VAT cut worth £12.5 billion this week.

Mr Clarke said the added pressure of changing millions of prices to reflect the cut would be an "unwelcome and costly burden" on the sector.

"Lower petrol prices and recent cuts in interest rates should help put a little more into people's pockets, as will the VAT cut, but only if retailers pass it on before Christmas," he added.

The CBI said those retailers linked to a plunging housing market continued to suffer but there was also a sharp decline in sales volumes among grocers - ending two years of continuous growth.

The bleak retailing environment has prompted a 57% balance of firms to cut investment plans - the worst result in the survey's 25-year history.

IHS Global Insight economist Howard Archer said the figures "added to the litany of bad news" from the high street and forecast the Bank of England could slash interest rates again by as much as 1% at its meeting next week.

"We suspect that there will be a lot more discounting, special promotions and flash sales right up to Christmas to try and get hard-pressed consumers to spend.

"It is also likely that there will be some extremely attractive bargains in the New Year sales," he said.

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Business (November 2008)

Burma’s vital garment industry is suffering factory closures and layoffs due to a sharp drop in orders as a result of the global financial crisis. “Orders for new consignments have reduced, and we will see a serious impact by the middle of December,” said Myint Soe, the chairman of the Myanmar Garment Manufacturers Association. The fall in orders could lead to workers being dismissed and the closure of some production facilities. About 30 percent of Burma’s garment exports go to Japan, another 30 percent to the EU and the rest to Latin America, Turkey and South Africa. The industry suffered a setback early this year when South Africa’s largest clothing retailer canceled orders, citing the military crackdown on anti-government protests in September 2007. That ban led to the closure of about 35 factories in Burma. About 100 garment factories remain, employing from 80,000 to 100,000 workers, compared to more than 270 factories before 2003, when the US imposed economic sanctions. Burma earned US $282 million from garment exports in the 2007-08 fiscal year.

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Saudis reject push to politicise OPEC

KING Abdullah of Saudi Arabia said OPEC shouldn't make oil a source of conflict, contradicting Venezuelan President Hugo Chavez who wants the oil exporter group to become an active "political agent".

"Oil is an energy for building and prosperity; it shouldn't become a means of conflict," King Abdullah said at the start of the organisation's heads of state summit in Riyadh on Saturday. "Those who want OPEC to become an organisation of monopoly and exploitation ignore the truth."

Saudi Arabia is the world's largest oil supplier.

The Organisation of Petroleum Exporting Countries, provider of more than 40% of the world's oil, is holding its third heads of state summit since it was founded in 1960.

Saudi Foreign Minister Prince Saud Al-Faisal voiced disagreement with a push by Iran and Venezuela to debate the pricing of oil in currencies other than the US dollar.

"OPEC was born as a geopolitical force and not only as a technical or economic one in the '60s," Mr Chavez said, speaking before King Abdullah. "We should continue to strengthen OPEC, but beyond that, OPEC should set itself up as an active political agent."

The contrasting view on the organisation's role in the world came a day after the disagreement between Venezuelan Oil Minister Rafael Ramirez and the Saudi Foreign Minister over whether to move away from the US dollar was accidentally broadcast on live television.

Mr Chavez said in his speech at the weekend that he was confident OPEC would do what it could to keep oil prices at a "fair" level, adding that if Iran was invaded, prices could easily rise to $US200 a barrel.

Crude oil for December delivery rose $US1.67 to $US95.10 a barrel in New York on Friday.

"The current price of oil, if we take into consideration inflation, is less than what it was in the early 1980s," King Abdullah said. High taxes in consuming nations were hurting consumers more than the producers, he said.

The last OPEC heads of state summit was in 2000 in Venezuela and was hosted by Mr Chavez, who was sworn in as President a year earlier. Iran and Venezuela both have tense political relations with the US.

Ibrahim Ibrahim, an executive at Qatar Petroleum, said that while Venezuela had helped OPEC become a stronger organisation over the years, "there is no need for OPEC to be a political force now. It just has to ensure that the oil market is stable."

Algeria's Oil Minister, Chakib Khelil, said he would urge Russia, the second-biggest oil supplier, to join OPEC when he became president of the organisation.

Russia's membership "would be very good for OPEC", Mr Khelil said in an interview on Saturday during the heads of state summit. Russia attends OPEC meetings as an observer nation.

Mr Khelil will become president on January 1.

Ecuador rejoined OPEC's ranks on Saturday after 15 years out of the organisation, boosting the organisation's clout as record oil prices increase the political and economic influence of its members.

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December, OPEC Production problems Disconnect

CAIRO Organization-State-The State Oil (OPEC) states will take a decision on cutting production at a meeting in Algeria, December 17, the future.

"This meeting is only as a preparation for the decision later in Algeria," said Saudi Arabian Petroleum Minister Ali al-Nuaimi in Cairo yesterday. Other OPEC members such as Iran, Kuwait, Qatar and Nigeria also expressed support to make the decision at a meeting in Oran, Algeria, December later. Libyan Oil Minister Shukri Ghanem said, meeting this time is only a consultation. "All options are open.

We think the decision will be taken immediately, "he said. According to him, currently all OPEC members should learn the problem of supply and demand of oil and increase persediaan.Namun problems, not including the possibility of cutting production to make decisions on these meetings. It disclosed Likewise Kuwait Oil Minister Mohammad al-Olaim. "I estimate we will not make a decision at this time, although the market has experienced a surplus of oil," he said.

About the amount of trimming production, there has not been a dominant figure from the OPEC meeting in Cairo. However, Saudi Arabia stated that the price of oil in the range of USD75 per barrel considered fair for producers. Saudi Arabia is the largest oil exporter and the main player in OPEC, which supply about 40% of the world's oil needs.

Meanwhile, Iraqi Minister of Petroleum Hussein al-Shahristani said, the price of oil in the range of USD80 per barrel price is reasonable. Therefore, Iraq will support measures to OPEC cutting oil production to a range of numbers tersebut.Adapun Venezuela Oil Minister Ramirez said OPEC should make a reduced production of at least 1 million barrels per day before the end of each year.

The Qatar Energy Minister Abdullah al-Attiyah berujar, oil prices are currently too low to support the investment industry oil industry to meet the needs in the future. "We can all live with the price of USD70 per barel.Dengan this price we can invest in the upstream sector, below that will be very difficult to increase capacity" he said.

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Northstar After Debt WOLD

JAKARTA- Northstar Pacific Partners Ltd. will take over the largest debt of PT Bumi Resources Tbk (BUMI) from Oddickson Finance SA worth USD575 million.

This step is part of the decision of the establishment of strategic partnership between the parent and Northstar BUMI business, PT Bakrie & Brothers Tbk (BNBR). Consistent agreement of all parties concerned on Friday (28/11) night, 35% purchase scheme BUMI shares worth USD1, 3 billion by Northstar changed to the establishment of strategic partners.

President Director BNBR Nalinkant A Rathod says, develop a debt will be compensated with a number of shares BUMI. "We can not yet say how the number karenamasihdidiskusikan between us (BNBR) and Northstar," he said. Finance Director BNBR Yuanita Rohali explains, the remaining debt to the Bakrie nine kreditornya currently reached USD1, 226 billion has been dilindungnilaikan (hedging) on the exchange rate Rp9.200 per dollar the United States (U.S.).

Oddickson debt to USD968 million was borrowed in the form of rupiah.Lalu, debt to JPMorgan of USD72 million, ICICI Bank USD105 million (both in the form of dollars), and a number of holders of the repo (repurchase agreement) worth of local USD81, 5 million (in rupiah ). Yuanita said, because domestic currency weakened sharply recently to a range Rp12.000 per U.S. dollar, the value of debt berdenominasi rupiah automatically participate recede.

"If the use of dollars, the value is fixed," he said. With the exchange rate Rp12.000 per USD, Oddickson into debt to USD742 million and local reposekitar USD65 juta.Para local repo is the holder of PT Recapital Securities, PT Aldira, PNM Investment Management, Sarijaya Securities, Mandiri Securities, Securities and Dinar. In a public display material, Bakrie said it has menjaminkan BUMI 3.74 billion shares, 4.76 billion shares of PT Energi Mega Persada Tbk, and 3.79 billion shares Tbk, PT Bakrieland Development debts to obtain from Oddickson.

Of the total ownership of Bakrie in BUMI as 6.79 billion shares, the majority or 55% of the shares was pawned to Oddickson. Northstar, further Yuanita, promised to help settle the debt Oddickson of USD575 million and the rest between USD160-170 million paid by the Bakrie assets. "The rest have been settled within the meaning of a Oddickson assets," he said. JPMorgan against it, continued, Bakrie has been committed debt financing from a new Ancora signed several days ago.

While for ICICI Bank, he has revealed there is one private equity fund that is ready to pay. "The small end of the year is completed and actually all be resolved this year," he said. Thus, Nalinkant words, all the problems of debt Bakrie has been completed. The completion of the formation of a strategic partner with the Northstar will dirampungkan before the end of this year.

Nalinkant not explain the problems likely changes in the management body BUMI with the influx of Northstar as a strategic partner. He only emphasized, the agreement is mutually beneficial both parties.

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FDIC adds 54 more banks to its 'problem list'

NEW YORK - The Federal Deposit Insurance Corp. said Tuesday the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter - yet another sign of escalating problems among the institutions controlling Americans' deposits.

The 171 banks on the FDIC's "problem list" encompass only about 2 percent of the nearly 8,500 FDIC-insured institutions. Still, the increase from 117 in the second quarter is sharp, and the current tally is the highest since late 1995.

"We've had profound problems in our financial markets that are taking a rising toll on the real economy," said FDIC Chairman Sheila Bair in a statement, adding that Tuesday's report "reflects these challenges."

Banks across the country have been hurt - and in some cases, devastated - by the collapse of the subprime mortgage market and subsequent problems across the lending spectrum. As the FDIC report shows, the number of hobbled institutions is rising at a quickening pace, a trend that has already begun to reshape the banking industry.

The FDIC said total assets held by troubled institutions climbed from $78.3 billion to $115.6 billion - a figure that suggests that the nation's top 20 banks aren't on the list, even though they are getting slammed, too, by the growing credit crisis. The FDIC does not reveal the names of the institutions it deems troubled.

Bert Ely, a banking consultant based in Alexandria, Va., pointed out that the assets held by problem banks represent less than 1 percent of those held by all U.S. banks. "We're still talking about a fairly small portion of the industry," he said.
And on average, only about 13 percent of institutions on the FDIC's list end up failing.

Still, banks that don't make the list can end up collapsing anyway - the two biggest bank failures over the past year, Washington Mutual Inc. and IndyMac Bancorp, had not been on the FDIC's list of troubled banks. Wachovia Corp. (WB), which nearly failed before it got bought by Wells Fargo & Co. (WFC) in October, had not been on the list, either.

Nine banks failed in the third quarter, decreasing the FDIC's deposit insurance fund to $34.6 billion from $45.2 billion in the second quarter. This quarter, the pace appears to be picking up - nine banks have already failed since Sept. 30, including Downey Savings and Loan Association, based in Newport Beach, Calif.

"To some extent, a bank failure is a regulatory failure," Ely said. Regulators, if they address bank problems early on, can convince a troubled bank to sell off assets, raise capital or find a buyer, he said. "My hope is they're moving faster on these problems."

The FDIC said Tuesday that commercial banks and savings institutions suffered a 94 percent drop in third-quarter profits to $1.7 billion from $27 billion in the same period last year. Except for the fourth quarter of 2007, it was the lowest quarterly profit since the fourth quarter of 1990.

Those institutions wrote off $27.9 billion in loans as uncollectible during the quarter.

Recently, community banks - defined as those with assets under $1 billion - have started to show similar stresses as their larger counterparts, the FDIC said.

James Chessen, chief economist at the American Bankers Association, said in a statement that the banking industry as whole, however, "remains well-positioned to meet the credit needs of local communities." Since last year, bank lending to businesses has risen by more than 8 percent, while bank lending to individuals has risen by nearly 7 percent, he said.

The U.S. government has been guaranteeing and buying more and more types of debt in an effort to keep the financial system functional. Late Sunday, Citigroup Inc. (C) got a government backstop for $306 billion worth of mortgages and other assets. On Tuesday, the Federal Reserve agreed to buy up to $600 billion in mortgage-backed assets.

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Oil prices tumble; gas falls to 2004 levels

COLUMBUS, Ohio- Oil prices fell nearly 7 percent Tuesday and gasoline prices fell to levels not seen since 2004 as a raft of lousy news about the economy, housing and the consumer state of mind suggested the U.S. is headed toward the worst recession in decades.

The government reported that the nation's gross domestic product in the United States shrank 0.5 percent in the third quarter, which was worse than expected. It was the worst showing since the economy contracted 1.4 percent in the third quarter of 2001, during the last recession.

Consumers and businesses have pulled back on energy spending, with massive layoffs and cost-cutting across almost every sector. That means less money will go toward powering everything from industrial plants to automobiles.

The Paris-based Organization for Economic Cooperation and Development said Tuesday that economic output next year would likely shrink by 0.4 percent for the 30 market democracies that make up its membership, against the 1.4 percent growth prediction for 2008. That would be the worst global recession since the early 1980s.

After spiking Monday on news that the U.S. would bail out financial giant Citigroup, light, sweet crude for January delivery on Tuesday tumbled $3.73 to settle at $50.77 a barrel on the New York Mercantile Exchange.

In London, January Brent crude fell 6 percent, or $3.57 to settle at $50.35 a barrel on the ICE Futures exchange.

The New York-based Conference Board reported that while consumer confidence in the U.S. rose in November as gas prices fell, Americans' views on the economy remain the gloomiest in decades amid widespread job losses, slumping home prices and dwindling retirement funds.

Gasoline prices nationwide continued to decline, falling 2.3 cents overnight to $1.885, their lowest levels since September 2004 when the average price for three days was $1.886, according to auto club AAA, the Oil Price Information Service and Wright Express. The current price is $1.20 below where it was a year ago and down $2.225 from the peak in July when prices hit $4.11 per gallon.

Meanwhile, a widely watched index showed home prices dropping by the sharpest annual rate on record in the third quarter as foreclosures continued to hammer prices and the tumult on Wall Street kept more homebuyers out of the market.

The Standard & Poor's/Case-Shiller U.S. National Home Price Index tumbled a record 16.6 percent during the quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004.

Unlike on Monday, when news of Citigroup's rescue seemed to support oil prices, the announcement that the Federal Reserve would buy up to $600 billion in mortgage-back assets provided little optimism at Nymex.

"This independent weakness is indicative of market yet to achieve a bottom," said Jim Ritterbusch, president of Ritterbusch and Associates.

Ritterbusch said he expects Wednesday's weekly government inventory report of oil supplies could indicate even more of a pullback.

Oil analyst Stephen Schork downplayed claims that the Citigroup bailout led to Monday's rally in oil markets.

"Perhaps it is, assuming all of that Fed money that is now carpeting Wall Street actually begins to free up credit so traders can get back to trading," he said in a note Tuesday. "Otherwise, yesterday's pre-holiday short-covering rally was just that."

Even though gasoline consumption remains below year-ago levels, there are signs that the weakness is beginning to ebb, according to the weekly SpendingPulse report by MasterCard.

The report's four-week moving average shows weekly gasoline sales of 63.3 million gallons were down 3 percent from a year ago, the smallest year-over-year decline since the first week of July, according to the report. The year-ago numbers included the week of Thanksgiving.

"It looks like consumers are moving back toward more normal driving patterns," said Michael McNamara, vice president of MasterCard SpendingPulse.

Investors are eyeing the Organization of Petroleum Exporting Countries, which accounts for 40 percent of global supply, for signs the group may reduce output quotas at an informal meeting Saturday in Cairo.

Venezuelan Oil Minister Rafael Ramirez said Sunday that OPEC should cut oil production by 1 million barrels per day at the Cairo meeting. OPEC President Chakib Khelil said Monday that if the organization met today, a cut of 1 million barrels would not be enough to support oil prices. But Khelil has said in the past that OPEC needs more time to evaluate the effect of previous production cuts.

The group, which cut output by 1.5 million barrels a day last month, will hold its next official meeting on Dec. 17.

In other Nymex trading, gasoline futures dropped 4.76 cents to settle at $1.0949 a gallon. Heating oil slid 8.56 cents to settle at $1.6988 a gallon while natural gas for January delivery tumbled 44.1 cents to settle at $6.386 per 1,000 cubic feet.

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DR Horton swings to $800 million loss

D.R. Horton Inc.'s chief executive said Tuesday he expects this fiscal year to be even more challenging than 2008, which ended with a nearly $800 million quarterly loss on slower home sales and more than $1 billion in charges.

The Fort Worth, Texas-based homebuilder reported a net loss of $799.9 million, or $2.53 a share, compared to a loss of $50.1 million or 16 cents a share, in the year-ago period. Total sales for the quarter were $1.75 billion, down from $3.12 billion in the fourth quarter 2007.

The company sold 6,961 homes in the fourth quarter, down 41 percent from year-ago levels.

Donald Tomnitz, who is also D.R. Horton's president, said the company was working to reduce inventory of homes and land. He called the housing market "dismal" but said, "we are confident in our abilities to deal with the blows the housing market and the economy will send our way."

The builder's fourth quarter revenue plummeted 44 percent, but that still beat analysts' expectations. Analysts polled by Thomson Reuters had forecast a loss of $1.88 a share on revenue of $1.7 billion.

D.R. Horton said the fourth quarter loss reflected a tax benefit of $365.3 million.

The company is just the latest in a string of builders reporting losses in the hundreds of millions of dollars.

To discuss the industry's plight, the High Production Home Builders Council recently visited members of Congress, Tomnitz said, stressing that something needs to be done.

"The only way people are going to buy homes is when they realize ... the value is not going to erode after they purchase the home," Tomnitz said.

One move Tuesday that will provide some relief: the Federal Reserve said it will buy up to $600 billion in mortgage-backed assets. The news immediately caused the trading range to narrow on certain mortgage-related securities - the first step toward lower interest rates.

D.R. Horton's shares jumped 38 percent, or $1.90 a share, to close at $6.90.

Investor enthusiasm may partly be in response to D.R. Horton's cash reserves.

Anna Torma, an analyst with Soleil Securities Group, highlighted the builder's $1.4 billion cash cushion and an expected federal income tax refund of $622 million in December.

D.R. Horton's management "remains focused on cash generation," wrote Torma, who maintained a "Hold" rating and a $9 price target on the stock.

Indeed, the homebuilder slashed its quarterly dividend to 3.75 cents a share from 7.5 cents.

Meanwhile, the company took nearly $1 billion in charges in the fourth quarter, including $364.7 million for owned inventory, $624.2 million for land and lots sold during the quarter and $85.7 million for write-offs of deposits and costs tied to land contracts the company doesn't plan to pursue.

The backlog of homes under contract to be sold as of Sept. 30 fell sharply from the same time last year. D.R. Horton had 5,297 homes worth $1.2 billion under contract at the end of the quarter. It had 10,442 homes valued at $2.7 billion under contract on the same day last year.

For the full fiscal year, D.R. Horton lost $2.63 billion, or $8.34 a share. The homebuilder lost $712.5 million, or $2.27 a share, during the previous fiscal year.

Full-year revenue fell to $6.52 billion from $11.09 billion during the prior year.

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Massive new programs aimed at loosening credit

WASHINGTON (AP) - Rolling out powerful new weapons against the financial meltdown, the Bush administration and the Federal Reserve pledged $800 billion Tuesday to blast through blockades on credit cards, auto loans, mortgages and other borrowing. Total bailout commitments, loans and pledges of backing neared a staggering $7 trillion.

Treasury Secretary Henry Paulson, who has been criticized for constantly revising the original $700 billion rescue program, said the administration was considering even more changes in its final two months in office.

Reports on the nation's economic health weren't getting any better. The Commerce Department said the overall economy, as measured by the gross domestic product, declined at an annual rate of 0.5 percent in the July-September quarter, even worse than the initial 0.3 percent estimated a month ago as consumer spending fell by the largest amount in 28 years.

In Chicago, meanwhile, President-elect Barack Obama named his budget director and said they both will focus on the nation's soaring budget deficit - but only after economic revival is under way. Paulson stressed that Obama's transition team was being kept informed of the government's moves.

(AP) A Sept. 16, 2008 file photo shows General Motors Renaissance Center headquarters building in...
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Investors digested it all and sent the Dow Jones industrials 36 points higher, a modest gain but still the first time the average had risen three straight days in more than two months.

Millions of Americans rely on the kinds of loans that were targeted in one of the new programs announced Tuesday.

The Federal Reserve will purchase $200 billion in securities backed by different types of debt including credit card loans, auto loans, student loans and loans to small businesses. That market essentially froze in October. These types of loans as a result have become harder to obtain and have carried higher interest rates

The Fed also announced that it would spend $500 billion to purchase mortgage-backed securities guaranteed by mortgage giants Fannie Mae (FNM) (FNM) and Freddie Mac (FRE) and another $100 billion to directly purchase mortgages held by Fannie, Freddie and the Federal Home Loan Banks.

This would greatly expand an initial modest effort announced back in September in which Treasury spent $26 billion to purchase mortgage-backed securities. The current credit crisis was triggered by soaring losses on securities backed by subprime loans.

(AP) A Sept. 16, 2008 file photo shows General Motors Renaissance Center headquarters building in...
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The announcement of the new programs had an immediate positive impact on credit markets Tuesday, sending demand up and rates lower. Analysts predicted the program could send mortgage rates down by as much as one-half to a full percentage point in coming months, helping to spur demand in the beleaguered housing market, which is suffering its worst downturn in decades.

The programs to buy mortgage-related assets and securities backed by consumer debt have the same aim: to boost demand for those assets. In doing so, the government hopes to lower the costs being charged for consumer loans. That would make loans on everything from mortgages to cars more available.

"This is one of the key actions we've been advocating," said Charles McMillan, president of the National Association of Realtors, referring to the purchase program for mortgage-backed assets.

The latest federal moves raised U.S. commitments to contain the financial crisis to nearly $7 trillion - though no one thinks the government will actually spend anything like that figure, which would be almost half the nation's total gross domestic product. The figures include loans that are expected to be repaid, loan authorities to back mortgages, purchases of stock in banks, guarantees to support loans among banks and pledges backing other transactions.

In the case of the Federal Reserve, the amount covers huge loans that financial institutions will have to pay back. In the case of the Treasury rescue effort, the government will at some point sell the stock it owns back to the banks, presumably when the banking system is doing better and the stock will be worth more.

As for Tuesday's actions, the mortgage-backed securities the Fed will buy will be investment-grade assets - not the toxic mortgage-related assets that the administration initially had said the $700 billion financial rescue program would buy.

By focusing on investment-grade securities, the Fed will be able to help provide a functioning secondary market. It will pay the prices for these securities that are being set by the market. Had the Fed needed to buy bad assets, it would have had to develop a mechanism to properly price assets that weren't being traded.

The use of Fed resources also gets around another problem Treasury faced: a limited amount of money in the program. The $800 billion being committed to buy mortgage-related assets and other assets backed by consumer loans will come from the Federal Reserve's vast resources. It will not count against the $700 billion rescue program.

The Treasury Department also announced Tuesday that the rescue program had spent another $2.91 billion in direct purchases of stock from 23 regional banks around the country. These institutions ranged from HF Financial Corp. (HFFC) in Sioux Falls, S.D., to Centerstate Banks of Florida Inc. in Davenport, Fla.

The government has now injected $161.5 billion in 53 institutions. The goal is to spend $250 billion of the $700 billion bailout fund to buy bank stock as a way of encouraging banks to resume more normal lending to bolster the shaky economy.

A boost to the overall economy is considered vital at a time when nearly every day has brought further evidence that the country is sliding into a severe downturn.

Nariman Behravesh, chief economist at IHS Global Insight, said he thought the economy would shrink by an even more drastic 4 percent annual rate in the current quarter and keep falling through the middle of 2009.

"We are in the early stages of one of the worst recessions in the postwar period, even factoring in a massive stimulus program," Behravesh.

Obama is putting together a stimulus program with the goal of creating 2.5 million jobs over the next two years. It's an effort that many economists think will need to total between $500 billion and $700 billion to bring the benefits needed to help shore up the economy.

Obama pledged Tuesday to make deficit reduction a goal of his administration - but only after recovery from the financial crisis is well under way. "We are going to have to jump start the economy," he said.

At a news conference, Obama claimed a "mandate to move the country in a new direction," and promised to consult with Republicans as he goes about it.

The effort to restart the frozen market for securities that back consumer debt will get an assist from the government's $700 billion financial rescue fund, which Congress passed on Oct. 3. Paulson told reporters that the fund will supply $20 billion as protection for the Fed against losses in its purchases of securities for the program.

He also signaled that the program could be expanded to include asset-backed paper that covers commercial mortgage loans. Those loans are used to finance shopping malls and office buildings.

Paulson defended the administration against charges that it has made haphazard changes in the financial rescue program, sending confusing signals to markets. Initially, the effort was sold to Congress as a way to buy toxic mortgage-related assets off the books of financial institutions. The idea was to give them the capital needed to resume more normal lending.

When the financial crisis worsened and Paulson decided it would take too long to get the toxic purchase program operating, he switched to making direct purchases of bank stock with the rescue funds. Paulson announced that the first $350 billion installment of the rescue fund probably would not be used to buy any toxic assets.

"It is naive for any of us to think that when you are dealing with a situation of this magnitude that a bill could be passed or a single action taken to make all the issues go away," Paulson told reporters at a briefing.

Paulson declined to say whether the Bush administration would seek authority from Congress to tap a portion of the second half of the $700 billion fund before leaving office. That decision had not yet been made, he said.

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Fannie Mae names Johnson chief financial officer

WASHINGTON- Fannie Mae (FNM) (FNM) said Tuesday it named David Johnson to serve as the mortgage giant's chief financial officer and executive vice president, beginning immediately.

Johnson joins the company from Hartford Financial Services Group, where he served as chief financial officer and executive vice president.

His predecessor at Fannie Mae, Stephen Swad, left the company in August and was temporarily replaced by David C. Hisey, formerly Fannie's senior vice president and controller.

Hisey will stay on in his role as executive vice president and deputy chief financial officer. Hisey joined Fannie Mae in January 2005 as senior vice president and controller.

Incoming CFO Johnson has previously held the post at Cendant Corp. and also worked in the investment banking unit at Merrill Lynch.

Fannie Mae and sibling company Freddie Mac (FRE) (FRE) were seized by federal regulators in September. The two companies, which own or guarantee around half of the $11.5 trillion in U.S. outstanding home loan debt, operate in a conservatorship that enables the government to inject up to $100 billion in each company in exchange for ownership stakes of almost 80 percent.

Shares of Fannie Mae jumped 9 cents, or 19 percent, to 56 cents in aftermarket trading. The stock gained 13 cents, or 38 percent in the regular session to end at 47 cents. The stock has traded as low as 30 cents and as high as $40.45 earlier in the year.

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8 From 10 Chinese Entrepreneur confused

Paris - Increasing Chinese economy is also followed by an increase in stress among the businessman. Imagine, 8 of 10 Chinese businessmen reported stress, according to a research.

Numbers jump that far exceeds colleagues in Europe that have working hours per week, at least in the world. Also exceeded their colleagues in Taiwan, India and Russia.

Therefore, the results of research and consulting firm of accountants Grant Thornton found that 84 percent of the executives of companies that disurveinya experienced an increase in stress, such as AFP This, in Paris, France, on Thursday (31/5/2007).

The level of stress in Taiwan is 82 percent, India is 79 percent and 76 percent are Russian. In general, the level of stress in the world increased 56 percent, based on a 7200 survey, employers in 32 countries.

"The level of stress continues to increase worldwide, with special attention to business leaders in countries that are increasing the economies of China, India and Russia," said the research results.

In Europe, business managers to stress that more light. For example in Sweden, only about 27 percent who felt more stress than last year.

The figures also not much different look in Ireland that only 35 percent and 37 percent in France, Britain and the Netherlands. Meanwhile in the United States slightly higher, 43 percent.

Research is also calculates the average working hours of business leaders in the world is 53 hours per week. Working hours is the India and Argentina, which is 57 hours. Europe is a cut, 50 hours.

"Hours of work per week is shorter in Europe describe the stress level is lower in the world, which marks the businessman-European business people who may lead the way in the world memanajemen balance work with the quality of life," said the study.

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Hedge Fund Russia threatened bankruptcy

Moscow, Hedge fund or investment company began the impact of global crisis. In Russia, nearly 50 percent Hedge fund would.

Bankruptcy was triggered by the withdrawal of funds Hedge fund, in addition to the investment performance of the fall.

"If they do not terkapitalisasi well then they can not maintain themselves," says Hedge fund experts from the Russian-Fentham Fletcher, as quoted Reuters, Friday (24/10/2008).

Hedge fund in Russia most of the berinventasi in equitas or shares with a minimum of hedging. And as a result, Hedge fund terkoreksi out anjloknya subsequent stock market, especially in Russia.

Shares in Russia have anjlok as much as 70 percent since the beginning of this year. Christoph Kampitsch, Head of alternative Investments Erste Bank says there are around 75 Hedge funds operating in Russia but in January the next month this number will continue to be down 25 Hedge fund.

Hedge fund in Russia has developed well before eventually have to accept the bitter pill global financial crisis. Now hegde fund investors in Russia prefer to attract investment and choose a more secure investment.

Not only in Russia, Hedge fund in the world have also experienced withdrawal of funds by investors. The level of yield is reduced because of the financial crisis.

Meanwhile, from Australia, investment companies are forced to freeze funds owned by investors worth U.S. $ 12 billion to prevent large-scale withdrawal by investors. Around two thirds from 20 top companies investing in Australia has blocked the redemption of its customers.

Withdrawal was due to the government to guarantee the banks in Australia. Because investors fear that the funds saved in the company's investment had disappeared, they eventually choose to save more in the bank a more secure Australia.

As cited by AFP, the three companies that have large investments freeze billions of dollars of investment fund clients, namely Everest Babcock & Brown, Perpetual Ltd and AXA Asia Pacific.

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History of PT Semen Kupang, the factory might go bankrupt

PT Semen Kupang, East Nusa Tenggara (NTT), which stopped production since April and due to financial difficulties, until Sunday (29 / 6) have not yet received fresh funds to fund operations until the company threatened bankruptcy.
On the threat, the management take decisions merumahkan all employees totaling 286 people start coming in July. While the salary of each employee will be paid on July 4 burners cut by 50.
Director of PT Semen Kupang Nampira Madjid said, cutting employees' salaries is only one step to save financial companies. But we keep working to pay the full salaries of employees in early July later, he said in Kupang, Sunday.
According to him, PT Semen Kupang to the middle of serious obstacles concerning the supply of electricity. But he refused comment on the company's debt of Rp25 billion to a company supplier of electricity.
The factory stopped operation since 22 April and then settle the debt because it has not been to PT Sewatama mamasok electricity for the company. Until the end of June, there were no other companies that are willing mamasok istrik.
Ityu Meanwhile, the planned salary cuts and policy merumahkan employees rejected Chairman Semen Kupang States Employee Benny Saba. He wanted all the rights of employees are met, among others receive salaries in full and Pesangon if companies go bankrupt.
According to him, actually the company also had stopped operating in 2005. But the government decided to revive the company menyuntikan fresh funds Rp50 billion in revenue from the state budget (Budget). Therefore, the factory beroperai start again on January 15, 2007.
On the other hand, members of Parliament have said Herman Hery PT Semen Kupang, should get a fresh injection of funds at least Rp400 billion to pay for long-term debt and capital to overcome difficulties. Nevertheless, the House will not let PT Semen Kupang bankruptcy because it can aggravate the image of the industry, especially in eastern Indonesia, he said.
Factory, which stood since 1984, the cement had to meet the needs of a number of areas in the country, among other
to the Province of East Timor (now Timor Leste) and Maluku.

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Rail transport company United States might go bankrupt

Position transportation speed passenger trains, Amtrak will go bankrupt if the government did not immediately provide a loan assistance of 200 million dollars. Word of the Amtrak David Gunn, Amtrak trains will begin apinya to enter the warehouse next week, if not get a grant or a loan from the federal government. If that happens, he said, the next step is to declare themselves bankrupt. If Amtrak is closed, hundreds of thousands of people who rely instrument is transportation to go to the home office, will get a big difficulty.

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10 Company of Origin China Ready to Invest in Energy Sector

As many as 10 large companies origin China is ready to invest in Indonesia in the energy sector with a value of U.S. $ 1.5 billion.

Executive Chairman of the Indonesian Chinese Investment Cooperation M. Jusuf Rizal said, the government is currently conducting the mediation of the Chinese businessmen. "From the results, we have to gather 10 companies who are ready to invest here," Jusuf said in Jakarta today.

According to him, a sector that investors dilirik China is energy. From the amount of U.S. $ 500 million has been realized for the development of electricity in West Java. Funds that are used in the development of the electricity in PT Jawa Power, which is located in the West Serang. "The rest is projected realized this year," he said.

In addition to the energy sector, some other sectors that are also attractive, mining, telecommunications, maritime affairs and fisheries, and plantations.

However, according to him, the origin of Chinese entrepreneurs ready to invest in Indonesia if the government also undertook steps that can memperlacar business is proper. The government requested, among others, can eliminate high-cost economy. Moreover, with the new government, the businessmen want to update it (the changes).

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Iraq Open Tender drilling Natural Gas

Jakarta: Minister of the Iraqi oil industry Hussain al-Shahristani invite local companies and foreign oil for the auction contract penggarapan natural gas fields in the area of Sunny which is located in the western part of Iraq.

The ministry official site on Sunday (23 / 3) mentioned that the deadline for the delivery of the proposal to tender for the management of the Akkas gas field ends on 24 April future. Natural gas fields is located in Anbar Province. Akkas gas fields is estimated to save more natural gas reserves of 2.15 trillion cubic feet.

Most Iraqi oil drilling sites located in the northern Kurdish region and the Shiite south. Akkas field development is expected to increase the joy of the economy in Sunni areas. In the early stages Akkas field could be in production to 50 million cubic feet per day and will increase to 500 million cubic feet per day in the next stage. The results of drilling can be flowed through Syria to Europe.

Iraq is a country where the third largest oil reserves in the world with the estimation of oil reserves of 115 billion barrels and 112 trillion cubic feet of natural gas.

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United States companies remain interested in Indonesia

Jakarta, Oct. 27, 2008 - Some 25 companies from USA have expressed their willingness to do ekpansi and transfer of business to Indonesia, as an effort to secure the business activities of their impact on global financial crisis.

Minister of Industry, Fahmi Idris to Xinhua on Wednesday and said, companies are interested to move usahnya activities to countries that are not affected by the impact of the current global crisis.

These companies are Dow Chemical, General Electric, Monsanto Corp., Pfizer, ConocoPhilips, Johnsons and the Johnsons, Microsoft and Oracle. Meanwhile, Guardian, and Marathon Oil will make new investment in Indonesia.

According to Fahmi, Guardian investment plan of $ 150 million for the production of "flat-mirror" while Monsanto will invest as much as $ 12 million to procure seeds.

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Founder of the "AP" Selling Company Shares

Founder of Agent Provocateur, Serena Rees and Joe Corre sell company stock in their clothes. Shares that they release 60 million worth of poudsterling.

Decisions to sell their shares is the effort to save financial companies. They are also ultimately not work together again in the company, such as the Financial Times reported.

"We are experiencing difficulties pengujung in the financial years ago. No longer may we continue with this business," said Core to a local print media.

"One of us should go," said Corre, write Female First, Saturday (17/11/2007).

They still have a few shares, though most have been selling shares of the company. The remaining shares not more than 10 percent. Next, they will not participate in the way companies manage it again.

At the beginning of this week "AP" was the Vahina Giocante as the icon for the third collection given the name of "The Adventures of Miss AP." Giocante replace the previous icon Catherine Bailey.

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PT Indah Continent Group sale of assets

Pontianak, milling company PT Indah Continent Group promised in October will pay the salaries of 3,200 workers have not been paid for 3.5 months. To pay the salaries of the workers the company will sell assets that can be sold quickly.

This raised Personnel and General Manager of PT Indah Continent Group (BIG) Darwis Abubakar to the Kompas in Pontianak, Friday (1 / 10). "Sales of these assets is also to meet obligations to the employees of other companies, such as holiday allowances in full," he said.

Dervish discloses, for the delay in payment of salaries of workers 3.5 months, the company still pay 50 percent of salary each. To pay the salaries of 3,200 workers, the company spent around Rp 1.2 billion each month. If they paid full salary, the company issued a fund of Rp 2.4 billion.

"So it's not correct at all if the company does not pay their salaries. Only because the company does not operate, the company's difficulties to pay all their salaries," he said.

This company does not operate because it has not received permission from back surgery related to termination of the Forestry Department while the Forest Industry Primary Results Wood (IPHHK). The largest timber company in West Kalimantan (West Kalimantan) is also frozen permits as Exporters Registered Forestry Products Industry (ETPIK).

According to the Darwis, in addition to the company to sell assets, Budiono Tan, the owner of the company, continue to work to the Department of Forestry to get permission to operate again. This step is adopted because PT BIG previously won the lawsuit in the State Justice Administration (PTUN) Jakarta related freezing EPTIK PT BIG.

Is 1.5 years

Based on data collected Kompas, difficulties in operating this company has been 1.5 years more. Namely freezing since EPTIK PT BIG issued the Director General of Foreign Trade Department of Trade and Industry on March 6 2003. EPTIK out on the freezing of that effort PT BIG PTUN law in Bangkok and win. Through the decision PTUN Jakarta No. 46/G-TUN / 2003 / PTUN Jakarta on 25 March 2003, the court ordered the Director General of Foreign Trade EPTIK the delay freezing.

West Kalimantan Governor Usman Ja'far had difficulties in the operation to help return the company by sending a letter to the Minister of Industry and Trade revoke the freezing EPTIK the BIG PT. In fact, along with the head of West Kalimantan's letter also issued a number 510/222 / PLN/2003 to ask for exemption of export in the name of PT BIG and the Office of West Kalimantan also SKSHH to support the export exemption request.

In addition to the Governor of West Kalimantan, the same request also posted Prijono Tjiptoherijanto, secretary of Vice President Hamzah Haz to Menperindag Rini MS Soewandi with the number of B-599. EPTIK issue has not been completed, the Minister of Forestry, through Decree No. 133/KPTS-II / 2003 PT IPHHK pause in the BIG River Adong, Moroto district.

Darwis said, while waiting for permit revocation freezing, the company operated only with the raw materials of wood that is up to March 2004. Since that company merumahkan thousands of employees. To retain workers, companies sell some assets as the company's heavy equipment.

"We also emphasize that no corporate interest of utilizing the employees do show some sense of this day. The company had tried to resolve the problem with this labor," he said.

Head Office of West Kalimantan Tri Budiarto said, the emergence of the problems foreign workers in West Kalimantan is now no relation to law enforcement against illegal logging.
According to the Tri Budiato, Fall timber company in West Kalimantan more because the system because of bad management is unable to adjust to the wood raw material supply is limited

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Two Oil Companies in Riau, Indonesia Make New Well drilling

INDONESIA, (PEKANBARU): Currently 2 oil and gas companies in Riau are drilling of two new wells. Each of PT Petro do the drilling in the area of River Apit as much as 2 wells, and Sumatra Persada Energy conduct drilling in Rokan Hilir one of the wells.

The head of BP Migas Berwakilan North Sumatra (Sumbangut) in Mulayawan of Pekanbaru, finding new oil wells this course will increase oil production in Riau. "Production of new oil wells, later adding that the amount of crude oil production of Riau," he said.
It is said that the two companies have to report to the BP Migas Sumbagut that they will do against drilling new wells. "This is certainly a good news for us, because with such a decrease in oil production can be more zooms Riau," he added.
The future until 2009 is estimated to have 7 new wells are being exploited by oil companies in Riau. Although production later only about 5,000 barrels per day, but the amount is sufficient as well.
"While the production of new oil wells that only 5,000 barrels per day, but can reduce the decline in oil production angkan Riau overall," he said. With new oil wells berproduksinya it, it means the numbers will increase oil production Riau, "he added.

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Pertamina reduce crude oil import

Jakarta: PT Pertamina will reduce imports of crude oil from overseas in line plan to get crude oil supply from the contractor for the results of the British Petroleum (BP) from the field, Arjuna, West Java.

Assistant Manager Programming Crude Oil Pertamina Nina Sulistyowati said there is a commitment from BP to procure crude oil by 250 thousand barrels per quarter starting early next year. "That will be done during a one-year contract," he told journalists at Anyer, Thursday (24/11).

According to Nina, the program for the purchase of crude oil from the contractor for the results is one of the efforts to reduce oil imports. Some of the results of other contractors are also interested, but they experienced because of obstacles have been committed by buyers overseas.

Nina added, with the purchase crude oil in the country, then Pertamina can save transportation costs. "If I buy from overseas transport costs high enough," he added.

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Expectations Hsinchu Science Park is to become number 1 in the IC design

Hsinchu Science Park said that the production value of IC design will continue to grow by 40% and become number one in the world. The Hsinchu Science Park said that the value of revenue from January to August was U.S. $ 22:34 billion) rise as much as 3.36% disbanding with the previous year. With the value of revenue it can be seen that the production value of Taiwan IC design is sebensar U.S. $ 5,015 billion, up 24.85% as disbanding the previous year and at that time Taiwan has been ranked at number two.

IC design industry is the most revenuenya and in the sequence number one compared with the six other sector. Located in the order of number two is optoelectronics.

The Hsinchu Science Park said that the export to Malaysia is the most pesar increase is 88% in the first 8 months. Meanwhile ekpspor to Vietnam also increased rapidly. Although the new stand for 4 years, the level of revenue for the first eight months this year reached U.S. $ 4.89 billion, and predicted they would reach U.S. $ 7.5 billion at the end of this year. And the value of revenue next year will reach 11.2 billion by the amount of 110 manufacturing.

Nulai production this year will reach the figure of U.S. $ 16.2 billion owing to a very large demand for the sector of communication, and digital electronics products cosumer

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ndian textile stronger dipasar Saudi Arabia.

A delegation of Indian textiles, which was organized by the Federation of Indian Export Organization, in the past week has been to visit Riyadh, Dammam and Jeddah. Indian textile export activity to the growing Saudi Arabia and increased 2-fold since years ago and currently reaches U.S. $ 200 juta.Selain woven textile, garment export continued to increase, especially the internationally. in addition to competitive prices, designs increasingly popular and increasingly good quality. The Indian textile businessman who participated in the delegation also offers a joint venture with Saudi Arabia. 15 companies that participated in this mission represent the multi-fiber products such as polyester, rayon, nylon and blended Fabrics. To meet international standards textiles, used modern equipment such as electronic cleaners, splicer and stringent quality control.
Indonesian.

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The crisis affected the China Toy Factory bankrupt

Beijing - Manufacturers of toys in China to export its products to the United States such as Mattel and Disney have to close the factory due to the global financial crisis.

"The reason why we close the factory because of our market share depends on the U.S.. Where the current U.S. economy anjlok middle," said one officer from the Human Resources Division of the Smart Union, Xu Xiaofang, such as the BBC This Friday (12/10/2008).

Employee salary increases, the price of raw materials, and the appreciation China's currency also contributed to the problem.

Smart Union announced the loss of up to USD25, 9 million in the first semester of this year. This is based on changes in shares of Hong Kong. This condition does not give clarity whether or temporarily stop production factories should close.

A newspaper in China said that the Smart Union has been selling products to the U.S., such as Mattel and Disney products.

"After the losers in the mid-year, the flow of money to be stagnating. The workers become the victims of this global financial tsunami," said the newspaper.

At this weekend newspapers in China reported that most of the exporters of toys losers due to the increase in the price of production, strengthening the yuan, and increased safety standards for toy products.

Some 3,631 or 52.7 percent of the company's toy manufacturer has come out of this business in the first seven months of 2008.

China is the country's largest exporter and manufacturer of toys. Based on customs data in China, the country is to send as much 17 billion toy to a number of countries in 2007

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Local companies might go bankrupt

Boeing - manufacturer of commercial aircraft passengers said, will be laid off thousands of employees to 30 since the terrorist attacks last week involving a passenger plane that dibajak. Boeing is the company's statement, issued Tuesday night, stated, the reduction in staff will be made to face the changing business environment. Attacks that prohibit all aircraft flying during the week and frightening that many passengers will be flying. Company flight of United, Continental and U.S. Airways already-announced plan to reduce the more than 40 thousand jobs, and other airlines threaten to act the same. White House ready to send the proposed aid package to Congress to help the aircraft industry, which he said require at least 20 billion dollars to help avoid bankruptcy. The United States shares closed again on Tuesday, second day of trading since the terrorist attacks last week.

Previously, the United States minister of Transportation, Norman Mineta said the government hopes to set up a rescue package for the airlines United States early next week. He raised This completes the discussion at the White House today between government officials, leaders, leaders of Congress and the executive company-major United States airlines. Many details are not known, but the flight was said to need support at least 20 billion dollars. Mineta said, the terrorist attacks in New York and Washington last week disadvantage companies that flight 250 to 300 million dollars a day. Without the assistance the Federal Government of United States airlines is predicted to declare themselves bankrupt start and ask for some protection in the coming days. Last week a number of major United States airlines such as Continental and Delta announced plans to reduce dismiss employees and flight services. Disruption in air travel threatens the survival of the airline company also harm the United States and European airlines.

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China's Law on Foreign Investors Stock Exchange

Beijing - China will encourage foreign companies its shares in the domestic market as part of efforts to increase foreign investment. Such explanations ministries of trade, Wednesday (23 / 4). China also encourages foreign companies to participate in the restructuring of large companies owned by the state.
Ministry said the investment by foreign companies, mainly expected in materials and manufacturing equipment, new materials.
Limiting investment is still done in the field of real estate, steel, cement and aluminum. China attracts U.S. $ 27.41 billion in foreign direct investment (FDI) in the first three months of this year, up 61 percent from the same period last year. Currently no foreign companies listed in China's stock exchanges, though some in the media speculate about NYSE Euronext, the parent of the New York Stock Exchange, likely to become the first foreign company there.

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World oil price of U.S. $ 65

World oil prices touched the highest levels for more than three months of this, to reach U.S. $ 65 New York and 64 dollars in London, due to increased Geopolitical tensions in Iran and Nigeria.

The main New York contract, the price of crude oil in February, 1:46 jumped 65.38 dollars into dollars per barrel in electronic trading. The increase occurred earlier to 65.53 dollars the highest since Oct. 3 last year.

In London, the price of Brent crude North Sea for March delivery rose 95 cents to be 64.13 dollars per barrel. The February contract closed yesterday reached 62.93 dollars per barrel.

Tuesday, the March contract reached 64.28 dollars, the best level since 29 September last year.
"In trading Tuesday crude oil Brent North Sea and New York will rise to the front because of the start enrichment of Iran's nuclear program and problem in supply from Nigeria," said analysts from the Sucden Brokerage.

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APEI meeting in the stock exchange investigation Earth

The members of the Association of Corporate Effect Indonesia (APEI) opened the meeting at 12:00 WIB since it considered not need to discuss about the shares of PT Bumi Resources Tbk (Bumi) in suspension longer. Meeting also discussed about the Earth and the repo stock shares and the other group Bakrie impact on the company's overall effect. Meeting held in the gallery space of building bei II tower this afternoon. The meeting started at 12:00 WIB since and ended at 14:35 WIB. Appear to present Director of PT Danareksa Harry Wiguna. Head of Equity PT Yulie Sekurindo Tbk Supyan Affandi said one of the agenda discussed in the meeting was APEI is associated with the shares of Earth. However, he refused expanding far. Harry Wiguna, also mum. Leaders meeting, namely the Chief General APEI Chaeruddin Hung from PT Mitra Investdana and Lydia Rivelly Azhar from PT Buana Capital. APEI is an association of companies that effects both the listing and not in the Indonesian Stock Exchange. Agency managers APEI period 2005-2008 consists of the head of the general committee consisting of four general chairman. In addition Chaeruddin and Lydia, head of the general APEI other is Lily Widjaja of Indonesia's PT Merrill Lynch and FX. Supriyadi from PT Panin Capital. Lily appears Widjaya not in the meeting yesterday. When ditemuai Business, a number of participants of the meeting rejected the comments. Harry Wiguna also tight-lipped, would not comment in regard to the results of the meeting was.

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Two factories in Oil Palm Production Stop

Palembang - Threats termination of employment (lay) has started mass occurs. Proven, two palm oil mills in South Sumatra have stopped operations.

Meanwhile, tens to hundreds of thousands of workers daily casual (xingyuantianshi) other living affected lay waiting time. The condition is not improving as the impact of global financial crisis.
Chairman of the Joint Oil Palm Businessmen Indonesia (Gapki) Sumarjono Saragih said South Sumatra, currently two of 50 palm oil factories in South Sumatra Gapki members have stopped operations. The factory stopped operating because they do not get a buyer, while the tank is full penimbun stock.
While some factories have also reduced their production activities.

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Two factories in Oil Palm Production Stop

Palembang - Threats termination of employment (lay) has started mass occurs. Proven, two palm oil mills in South Sumatra have stopped operations.

Meanwhile, tens to hundreds of thousands of workers daily casual (xingyuantianshi) other living affected lay waiting time. The condition is not improving as the impact of global financial crisis.
Chairman of the Joint Oil Palm Businessmen Indonesia (Gapki) Sumarjono Saragih said South Sumatra, currently two of 50 palm oil factories in South Sumatra Gapki members have stopped operations. The factory stopped operating because they do not get a buyer, while the tank is full penimbun stock.
While some factories have also reduced their production activities.

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Cisco TelePresence, Improve Global Business Competition

Business people who need the freedom movement in the era of information technology (IT) at this time can be helped best by the presence of Cisco TelePresence. The progress of this technology will provide the ability to meet "in person" is charming and safe for business, an easy phone call.
Cisco worked closely with the provider-service provider for the development of Cisco TelePresence architecture inter-company. Cisco TelePresence combines advanced audio, video, high equipment and interactive collaboration with the network as a platform to generate a virtual meeting experience that has never been available before.
"Cisco TelePresence is a new product category with the most rapid growth in Cisco's history," said Tony Seno Hartono, Advanced Tech-nology Director, Cisco Systems Philippines. "The ability to inter-personal communication and interoperability features increase the list of benefits that can be taken in the business get the benefits of competition in the global business environment."
The ability to use Cisco TelePresence with complete security and quality of service between organizations allows organizations to benefit from the increasingly close relationship with customers, supply chain connections that the meetings, discussions, negotiations and personal customer service, or better, all remain friendly on the environment.
Cisco TelePresence is used by many organizations to speed decision making, improve cross-cultural communication, to measure the rare resources, and market products more quickly.
In addition to helping provider-service provider of commercial services for implementing Cisco TelePresence inter-company through a reference architecture that has been fully validated, Cisco also announced the ability to video conference with berinteroperasi based standards.

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Leadership Style Paradise

According to Peter F Drucker, irrespective of the leadership not regard culture (the culture) that disandang by the dilayaninya. Culture that even appear as an integrated part in the overall leadership, the a kind commonly called a frame style (style), until there is a terminology leadership style of leadership style Japanese or Chinese or Western style of leadership and so on.
Leadership responsible for taking the mission of the institution dilayaninya, to operate based on cultural and leadership activities assigned to each manjadi productive work and to make every academic work, do so based napas, spirit and soul of culture. In managing the social impact and social responsibility, the existence and activities of institutions dilayaninya, do so in The leaders of the culture.



In East and Southeast Asia perhaps we can without doubt talk about Japanese culture, Korean culture, Chinese culture and culture of Indonesia in addition to the cultures of other, more local and regional nature. About the Indonesian culture, which, according to Ki Hadjar Dewantara is the peak from all areas of culture, which then interact each other and adapting slowly dissolve into one personality. Style of leadership that is taught Ki Hadjar Dewantara, 'Ing Ngarso Sung Tulodho, Ing Madyo Mangun Karso, Tut Wuri Handayani', namely in the future should have, in the middle of must support and must follow behind, is one style of leadership with the cultural foundation of Indonesia .
We also know the style of leadership mba Brata, the leadership has the nature of the sun, moon, stars, wind, fire, clouds, ocean and earth. Leaders who have the nature of the sun, should be able to give a fervent spirit and strength of spirit to the children fruit.
Leaders with the nature of the month, should be interesting, providing a beautiful work atmosphere, and association, and appears to make light of the darkness.
Leaders who have the nature of stars, must be able to provide the correct direction for an organization or a travel institutions. Leaders must also have the nature of the wind. He should be able to communicate with the good, capable and motivated children can fill the shortage of fruit expression with soothing words, not disapprovingly. Leaders with the nature of the fire, can behave firmly, without perceiving the guilty downy minute without hesitating. The nature of the cloud has a strong authority, at once respected beloved people. Leaders must also have the nature of ocean and earth. Namely leaders must be able to accommodate all the problems, remain patient and calm in providing solutions. He also must be resolute and strong foundation but also ready to hear from any input to be considered.
History proves that the storm hiding and the period of time, not able to change the basic principle-agent culture. Namely the belief in the Dzat the Most High, the Almighty Creator and togetherness in the context kegotongroyongan. But sociologically, the basic culture of leadership is the leadership of Indonesia paguyuban.
Messenger PBUH said "Allah created Adam, with eight children nature. Four experts to the nature of heaven, namely that sweet face, a fluent oral, sacred hearts and hands that provide assistance, and the nature of the four experts for the Fire, which is a certain kind of face glum, the vile speech, a hard heart, hands that would not membantuî . Leaders on morals with a sweet face, a fluent oral, sacred hearts and hands that give aid is a Leadership Style Paradise

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The list of the richest people in the WORLD

Warren Buffett,

investors, the United States (U.S.), who is also leader of Berkshire Hathaway Inc., to shift the position of Microsoft Corp. founder Bill Gates as the richest person in the world. Forbesdalam newest magazine report published on Wednesday (5 / 3) estimate the wealth Buffett reached USD62 billion (Rp560 trillion). Original Mexican telecommunications businessman Carlos Slim is in second position with a wealth of USD60 billion. "Now Gates is ranked third after 13 years in the rank pertama.Kekayaan Gates is estimated to be approximately USD58 billion," said CEO ForbesSteve Forbes. According to Forbes, Buffett success of the first position is a very important achievement.

"Their success was when the financial crisis engulf the world, and Buffett has made the company began in charity activities," said Forbes. "Although he (Buffett) donated a number of benefits each year, Berkshire Hathaway shareholders, Warren Buffett source of wealth, continue to increase rapidly." Buffett Property increased USD10 billion in calendar years ago, "said Forbes.

Buffett is often referred to as the sage of Omaha by investors because he only invests in large companies that are easy to understand the business, dominate market share, revenue and have consistent and strong management. In the early 1960s, Buffett started to invest in Berkshire, which is when creator of the textile company. Since taken over, Berkshire as the parent company for more than 50 companies from the company's Benjamin Moore paint, Dairy Queen ice cream to dress in the Fruit of the Loom and Ginsu knives.

Bill Gates,

Gates has been in the position of the first world's richest people since 1995. When he was to shift the position of Yoshiaki Tsutsumi, the real estate Jepang.Tsutsumi exit from the original list of the world's richest people last year after receiving verdicts prison on the false financial agreements and Insider tradingpada 2005. "Microsoft's stock price plunged since before the company is owned by Gates announced plans to buy Yahoo will be worth USD44, 6 billion on 31 January," said Forbes is doing based on the price of the shares on February 11 2008.

If the price of Microsoft stock does not degenerate too much, it is estimated that Gates will not be too far from ranking Buffett. While Carlos Slim is a former player known as the stock often buy cheap company, is developing, printing machine and make profit. Slim build the company with phone companies consider ex Government of Mexico, Telmex. America Movil is the development of the company Telmex and is now the flag business Slim.

America Movil has become the largest mobile phone company in Latin America. Some U.S. technology industry leaders other down in the list of Forbes ranking. Larry Ellison, CEO and founder of Oracle, down to rank these 14 years, from the rank 11 years ago. Meanwhile, the Microsoft co-founder Paul Allen also declined to rank 41 from rank 19 in the past year. Google Founder Sergey Brin and Larry Page to remain in the list of richest people with the wealth of each USD18, 7 billion and USD18, 6 billion.

They are ranked 32 and 33. According to Forbes, most of the 10 richest people the world still comes from heavy industry and commodities. Rank 4 by Lakshmi Mittal, the steel, fifth place Mukesh Ambani, the oil, and sixth place Anil Ambani, Mukesh brother is a businessmen in the field of electricity and communication. Oleg Deripaska, owner of the company's aluminum, is ranked 9. Two retailers are in the list of the world's 10 richest.

The first is the founder of Ikea, Ingvar Kamprad of Sweden, ranked 7.Kedua, the founder of German discount stores, Aldi, Karl Albrecht ranked 10. Indian real estate developer KP Singh at the 8. In Asia Pacific, Australia has a number of more miliarder in Asia Pacific with 14 miliarder. 12 milialder origin followed by South Korea (South Korea) and eight miliarder Malaysian origin.

Then, seven miliarder Taiwan origin. From Indonesia and Singapore masingmasing five miliarder. Then three miliarder from Thailand and two from the Philippines miliarder. "Total property 1,125 miliarder world reached USD4, 4 trillion. Miliarder the list doubled in the last four years, "said Forbes magazine. According to Forbes, there are 469 miliarder U.S. with a total wealth of USD1, 6 trillion. Meanwhile, there are 656 miliarder who live outside the U.S. with a total wealth of USD2, 8 trillion.

"Russia became the second largest area as a place to live 87 miliarder and Moscow has become the center miliarder most in the world. Russian capital city is now a place to live more than miliarder City of New York, "said Forbes magazine. India, China and Turkey also become a place to live most of the miliarder. Miliarder of the world aged 23 years old, Mark Zuckerberg, the founder of social networking site Facebook. Forbes estimates the number of rich they USD1, 5 billion.

"He is a miliarder of the ever appear in the list of Forbes ranking miliarder world," says the magazine. Zuckerberg is ranked 785 in the list of people from all over the world's richest version of Forbes. Calculations Forbes is also based on the value of Microsoft's investment of USD240 million years ago in Facebook. Global financial crisis that occurred when this has put out a number of people from the Forbes list of richest people.

They are out of the list is James Cayne, the leader of the investment bank Bear Stearns Cos; William Pulte, the founder of the company housing developer Pulte Homes Inc. and Howard Schultz, founder of the Starbucks coffee shop network. The decrease of U.S. dollar exchange rates also influence the increase in the number of miliarder from outside the U.S., especially because the Forbes list specified in the currency U.S. dollars. (long)

(Additional) Here is the full list of 100 people, the world's richest person:

Rank Name Citizenship Age Net Worth ($ bills) Residence

1 Warren Buffett United States 77 62.0 United States
2 Carlos Slim Helu & family Mexico 68 60.0 Mexico
3, William Gates III United States 52 58.0 United States
4 Lakshmi Mittal India 57 45.0 United Kingdom
5 Mukesh Ambani India 50 43.0 India
6 Anil Ambani India 48 42.0 India
7 Ingvar Kamprad & family Sweden 81 31.0 Switzerland
8 KP Singh India 76 30.0 India
9 Oleg Deripaska Russia Russia 40 28.0
10 Karl Albrecht Germany 88 27.0 Germany
11 Li Ka-shing Hong Kong 79 26.5 Hong Kong
12 Sheldon Adelson United States 74 26.0 United States
13 Bernard Arnault France 25.5 France 59
14 Lawrence Ellison United States 63 25.0 United States
15 Roman Abramovich Russia Russia 41 23.5
16 Theo Albrecht Germany 85 23.0 Germany
17 Liliane Bettencourt France 22.9 France 85
18 Alexei Mordashov Russia Russia 42 21.2
19 Prince Alwaleed Bin Talal Alsaud Saudi Arabia 51 Saudi Arabia 21.0
20 Mikhail Fridman Russia Russia 43 20.8
21 Vladimir Lisin Russia Russia 51 20.3
22 Amancio Ortega Spain Spain 72 20.2
23 Raymond, Thomas & Walter Kwok Hong Kong NA 19.9 Hong Kong
24 Mikhail Prokhorov Russia Russia 42 19.5
25 Vladimir Potanin Russia Russia 47 19.3
26 Christy Walton & family United States 53 19.2 United States
26 Jim Walton United States 60 19.2 United States
26 S Robson Walton United States 64 19.2 United States
29 Lee Shau Kee Hong Kong 80 19.0 Hong Kong
29 Alice Walton United States 58 19.0 United States
31 David Thomson & family Canada 18.9 Canada 50
32 Sergey Brin United States 34 18.7 United States
33 Larry Page United States 35 18.6 United States
34 Michael Otto & family Germany 64 18.2 Germany
35 Stefan Persson Sweden 60 17.7 Sweden
36 Suleiman Kerimov Russia Russia 42 17.5
37 Charles Koch United States 72 17.0 United States
37 David Koch United States 67 17.0 United States
39 François Pinault & family France 71 16.9 France
40 Michael Dell United States 43 16.4 United States
41 Paul Allen United States 55 16.0 United States
41 Kirk Kerkorian United States 90 16.0 United States
43 Steven Ballmer United States 52 15.0 United States
Abigail Johnson 43 United States 46 15.0 United States
43 Shashi & Ravi Ruia India NA 15.0 India
46 Nasser Al-Kharafi & family of Kuwait Kuwait 64 14.0
46 Gerald Cavendish Grosvenor & family United Kingdom 56 14.0 United Kingdom
46 Carl Icahn United States 72 14.0 United States
46 Forrest Mars Jr. United States 76 14.0 United States
46 Jacqueline Mars United States 68 14.0 United States
46 John Mars United States 71 14.0 United States
46 Birgit Rausing & family Sweden 84 14.0 Switzerland
46 Jack Taylor & family United States 85 14.0 United States
54 German Khan Russia Russia 46 13.9
55 Susanne Klatten Germany 45 13.2 Germany
56 Vagit Alekperov Russia Russia 57 13.0
Donald Bren 56 United States 75 13.0 United States
58 Alain and Gerard Wertheimer France NA 12.9 United States
59 Dmitry Rybolovlev Russia Russia 41 12.8
60 Azim Premji India 62 12.7 India
60 Naguib Sawiris Egypt Egypt 53 12.7
62 Anne Cox Chambers United States 88 12.6 United States
63 Iskander Makhmudov Russia Russia 44 11.9
64 Sunil Mittal & family India 50 11.8 India
65 Alexander Abramov Russia Russia 49 11.5
65 Michael Bloomberg United States 66 11.5 United States
67 Viktor Vekselberg Russia Russia 50 11.2
68 Michele Ferrero & family Italy 81 11.0 Monaco
68 George Kaiser United States 65 11.0 United States
68 Spiro Latsis & family Greece 61 11.0 Switzerland
68 Nassef Sawiris Egypt Egypt 46 11.0
72 Alexei Kuzmichev Russia Russia 45 10.8
Philip Knight 73 United States 70 10.4 United States
73 Viktor Rashnikov Russia Russia 59 10.4
75 Ernesto Bertarelli Switzerland Switzerland 42 10.3
76 Kumar Birla India 40 10.2 India
77 Leonardo Del Vecchio Italy Italy 72 10.0
77 Antonio Ermirio de Moraes & family Brazil 79 10.0 Brazil
77 Iris Fontbona & family Chile Chile NA 10.0
77 Edward Johnson III United States 77 10.0 United States
77 Hans Rausing Sweden 82 10.0 United Kingdom
77 Vladimir Yevtushenkov Russia Russia 59 10.0
77 Igor Zyuzin Russia Russia 47 10.0
84 Serge Dassault & family France 82 9.9 France
85 Alberto Bailleres & family Mexico Mexico 75 9.8
86 Ramesh Chandra India 68 9.6 India
87 United States Charles Ergen United States 55 9.5
87 John Kluge United States 93 9.5 United States
87 Ronald Perelman United States 65 9.5 United States
90 Silvio Berlusconi & family Italy Italy 71 9.4
91 Gautam Adani India 45 9.3 India
91 Petr Kellner Czech Republic Czech Republic 43 9.3
91 Alisher Usmanov Russia Russia 54 9.3
94 Adolf Merckle Germany 73 9.2 Germany
94 August von Finck Germany 9.2 Switzerland 78
96 Onsi Sawiris Egypt Egypt 78 9.1
97 Mohammed Al Amoudi Saudi Arabia Saudi Arabia 62 9.0
97 Robert Kuok Malaysia 84 9.0 Hong Kong
97 George Soros United States 77 9.0 United States
100 Abdul Aziz Al Ghurair & family United Arab Emirates 54 8.9 United Arab Emirates

However, at least, deserve proud because Indonesia has at least a millionaire who excel millionaire veteran such Steven Spielberg and Donald Trump (ie, position 36, Sukanto Tanoto (position 284)

The Rich List Indonesian version of Forbes

Jakarta (ANTARA News) - The business magazine Forbes Asia set Aburizal Bakrie, Coordinating Minister for People's Welfare now, as the richest people ranked first from 40 rich people in Indonesia this year with property values reaching 5.4 billion U.S. dollars from the previous year's 1.2 billion U.S. dollars .

Forbes in the broadcast persnya received ANTARA News in Jakarta, on Thursday, state, 10 in the list of rich people and rich they value as follows:

1. Aburizal Bakrie, and the family: 5.4 billion U.S. dollars
2. Sukanto Tanoto (April and the company's Asian Agro): 4.7 billion U.S.
3. R. Budi Hartono: 3.14 billion U.S. dollars
4. Michael Hartono: 3.08 billion U.S. dollars (Budi Hartono and Michael Hartono, the two siblings who have shares in the company Djarum cigarettes and BCA)
5. Eka Tjipta Widjaja and family (Sinar Mas Group): 2.8 billion U.S. dollars
6. Putera Sampoerna and family (Sampoerna Strategic): 2.2 billion U.S. dollars
7. Sitorus five (Wilmar International): 2.1 billion U.S. dollars
8. Rachman Halim and family (Gudang Garam): 1.6 billion U.S. dollars
9. Peter Sondakh (Rajawali Group): 1.45 billion U.S. dollars
10.Eddy William Katuari and family (Wings Group): 1.39 billion U.S. dollars

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The World's Top Businessmen

Friday and released Fortune Global 500 list of 500 companies in the world to record profits and sales higher during the year 2006. The list is made by the business magazine Fortune is very prestigious because of the influx of a company in this list characterize the company is very rich, healthy and have a high enough profit. Impact the company's shares will be the main destination of international investors. Its not wonder if all the company's many world-crowd want to enter this list, including Indonesia.

Based on the release from CNN Money, the total income from companies in the Fortune 500 list can be reached U.S. $ 21 trillion, which means that half of the income GDP countries in the world.

Here is a list of the top 10 companies in the Fortune 500 list:

1. Wal-Mart (U.S.)
2. Exxon Mobil (U.S.)
3. Royal Dutch Shell (Netherlands)
4. BP (UK)
5. General Motors (U.S.)
6. Toyota Motor (Japan)
7. Chevron (U.S.)
8. Daimler AG (Germany)
9. ConocoPhillips (U.S.)
10. Total (France)

In the business sector, from 10 major world ranking this appears to still dominated by fuel oil producers and car manufacturers (oil consumers). Meanwhile, in terms of country, it appears that the domination of U.S. and European countries are very strong. To the list can be seen here.

Companies in Asia in the list is still dominated by Japanese companies, China and South Korea. Asian countries other in the list are India, Taiwan, Saudi Arabia. Meanwhile, countries in Southeast Asia, which is included in the list of Malaysia (Petronas), Thailand (PTT) and Singapore (Flextronics International). None of the company in the list.

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How ShareThis Success on the Internet (Part 3)

After posting our previous investigation of how the Internet can make us a respite and business traffic as a key online business, we are now talking about how the recent terror business online.

Several people commented on this blog that it seems easy to build a business online. Average mention the reason because they are right. Need to learn so much about things that do not ever know, it may not be heard. Technicalities kinds ping, appeals, RSS feeds or other creepy sounds in the ear that we fear more step.

"The taste is a sophisticated business once. What can I? "Maybe it's the mind settle in our minds.

Indeed, sometimes there is a fear that when we want to start something on the outside that we already know. In ourselves, there is a kind of defense system that always hold that we do not depart from the conditions that are prevalent.

Maybe the conditions we enjoy today is not so comfortable, but we made not a whisper-whisper disseminator of doubt in ourselves. That ultimately make us afraid and step in the same condition throughout life.

Just a story, some time ago I met a mother who is aged further. Age above 50 years. Mother is on their life in one-one business: stall tent. In the small stalls selling various foods, he almost all his own process.

From the hard work, for me, mother, is extraordinary. He started activity before the Dawn terlelap still many people with the dream, and why towards the middle of the night when many people are already comfortable with the rest.

Through the business, without the support of husband, she is successfully raising children merely wayangnya. However, at the age of the parents I should just stay dinikmatinya course, the mother is still to perspire, sweat. Leaving the market to ask forgiveness away, cooking distributing goods, manage kiosk, and many other things that he did own. The aim is not more that the mother can still survive, pay rent and kontrakan rooms where the business.

It also tells the mother, when he has not sesenja now, he never intends to open another business. But he hit about as the reason for the above: only memasaklah that he has the ability, while the overdo information age is to learn other things. Meanwhile, efforts to enlarge the kiosk, he hit from the capital that never collected.

A valuable lesson from the experience of picking my mother's life is the readiness of the need to design our future as well. And dare to learn outside of what we know.

Back to the matter of online business, when you step in doubt only because the terms of the technical world of the Internet to create headaches, I think it is not the right reasons. Because there is no possible in this world. All knowledge can be learned. What is important is you have a strong determination not to surrender in the conditions that you passed.

Try to remember the moment. Are you still at the baby, think you can run and move like at this time? I think not. That all happened because in addition to the assistance of parents and the people around you, also owing to the will and determination you own. Every time you learn to walk, and then drop quickly, but then you rise again. Until finally you can walk like at this time.

Technical issues are important. But not the main. You can learn while you start to build your business online. Most importantly, you have a strong determination to do business online. So that you can trek to design the future that is more promising.

Of course, the courage needed to get started. And indeed, courage is one of the basic capital business success. Without courage, there will not be the first step and the next steps until you toward the goal.

Suggestions I do not wait until you become a specialist Internet to start a business online. Now you can also start immediately. Remove doubt yourself for success in this business.

If you still do not dare to start a business online, you need to read the easy way avoided the failure of the Business Internet. For those who already have a blog, it is important also know what is lacking from your blog.

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How ShareThis Success on the Internet (Part 2)

In previous posts, I have already described how the online business to be able to train someone businessman respite. And the benefits are indeed real. I and many people have been interview.

Therefore, in the century such as the Internet now, I think is very good when people have every online business. Although the objective may be simply to seek experience, I think there is no ruginya.

Because cost is not expensive and the benefits that can be obtained pleated-fold. Besides the money can generate abundant throughout your life, teach business online to share what you know with others. Did you also want to inculcate good in the rest of your life?

Sometimes I am amazed to see the mixed proud young people who have successfully do business online. At the still very young, they already have their own online business and able to generate millions of rupiah. I acungkan two thumbs up for them!

But I am more amazed again to start their online business. Because in fact there are genuine success. While they are able to conquer fear, terror and stepped toward the desired success. To them this, I acungkan four thumbs up!

Actually, it is very easy to run a business online. Try to see www.rumusuang.co.cc as an example. The structure of the website is very simple. No complicated. Contains only offer a product. But despite the billions already generate money!

Andapun can to make sure!

And when you have your website, the second step you bring live traffic. I guarantee, if your web site traffic abundant, the flow of money will take you step kemanapun.

Yes, traffic is the key to a successful Internet business.

Many people can create a website or blog that great, but if I can bring traffic, the results will not be satisfactory. Like many people can create products that talk, but when they are not able to sell it, certainly not salable products.

The most important is how you can bring in traffic. How do you able to coax people to visit the web site or your blog.

Enough about it. Post the next certainly not less useful. Do not surrender. Keeping the spirit to do business online!

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How ShareThis Success on the Internet (Part 1)

Attendance world of online business currently makes life so enjoyable. Everyone can work from their homes with comfortable, set their own working hours, choose a business that best monetization opportunities, and enjoy the income without limit. More than that, each person can freely plan their life at this time and in the future later. Without the need to make the displaced families, lack of affection due to busy looking for sustenance.

Indeed for me this award that is not measurable. The existence of the Internet has changed the fate of many people. Internet has become a savior for millions of people to have a better life.

But long before that, when the online business has not been popular, not a few challenges that must be faced. I remember a time early pioneer of this business online. How little people do not pout and I think half (or even really) insane. Because I try to live up from the virtual world, a world that may be for some people, as well as with the phantom world: the world where living with Aladin genie lamp that is able to meet all the demand.

However, I am reluctant memperturutkan their spiel. All of scorn, invective, seems to underestimate the cynical expression, I have no chewed. I believe the online business is a real business. Same with the fact the offline business. And even that success can bring far more terrible from the offline business. It is this confidence that I firmly hold the lead until finally I say pleasure, such as at this time.

Nowadays it seems there is no future if utmost Nostalgia recall the past ... Because I was here ends up sharing first on past experience. And let's start into the discussion this time.

Have not ubahnya online business training to develop into a better day to day. How can we afford to go through stages of our lives become more meaningful from the previous.

Many things that I get from online business. Not only is abundant money, online business has become my personal practice tossing resistance and abstinence surrender. Online business to increase self-discipline, always hungry to make learning, continuously improve the ability to communicate, train focus, and many other things.

I'm very aware, online business who have fuller myself, so always berfalsafah: this must be far better than the day yesterday.

For, this self-improvement directly affect the online business is run. Try it's undisciplined, it's easy to surrender to difficult situations, our online business would designate fragile and easily crumble.
World business is sometimes we assume the conclusion, I know the word forgiveness. World business is always running in the track, never give tolerance for the self know. World business only know two things. The successful deserve FINALLY, a failed accelerates punished.

And it was submitted on us. We are given full freedom to choose and mengusahakannya. When we choose maintain laziness, fear to maintain their business, and have brilliant ideas, online business we would stay waiting time for terjengkang to the brink failure.

Conversely, if we want to work to develop our business, dare infiltrate the difficulties faced, and would create a creative new ideas, I guarantee our online business will be eternal and growing.

One thing that I want to Underline. There is a difference between light and fanciful action. I'm sure you can distinguish them. Many people who have the notion that great, but because they never stepped a bit, delusion that will never become a reality.

Many people also have had a business online, but failed to develop the business online. The reasons, they are afraid to take risks. Business opportunities online is not many scattered dare they sabet. They always take risks with glasses negative. The shadow of failure is always haunt them beyond a shadow of success may be achieved. Until the end opportunities that first disabet other people and they can only put.

The risk we need not fear. Thus the risks that will help us to develop. The risk that we will create a strong and resistant rock. Business people to make genuine risk not as opponents, but that accompany toward success.

The difficulties faced also repeatedly that will make us grow stronger. Owing to difficulties that come, we are trained to continue to develop themselves and seek solutions. So there is no time for silence. We are ready to take the time we work hard, stay focused despite the pressure in the middle, and even enjoy the process that is being traveled.

We may quibble that can each person is different. So, when I have something different also resilience. That's true, but it is not that we need. We do not need to be successful conference. We only need to challenge ourselves to be successful.

Save your face again and still optimislah a business online. Tatap your future with a bright smile. Rest assured, there are certainly many facilities behind a handful of difficulties.

And so I also always emphasize STOP DREAMING, START ACTION. Immediately start to act now. Rebut the opportunities and risks lunge!

Siapkah you accept the challenge to successfully do business online?

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