Internet E Club

Source: Sydney Morning Herald (Original Article)

Underquoting is the biggest consumer issue facing the real estate industry … but the REIV says values are simply much harder to predict in a boom.

IT WAS a property investor’s dream. An older block of four apartments on a quiet street in Malvern East that was being advertised for $1.4 million-plus. In the same suburb, a modest double-bedroom apartment would normally sell for between $530,000 and $630,000, so it’s no wonder a huge crowd turned up at the auction this month.

But this time, the investment dream collided with reality when fierce bidding saw the apartment block sell for $2.41 million. The $1 million gap between the agent’s estimate and the final sale result is one of the starkest examples of unrealistic price advertising this year.

Underquoting and bait advertising is the biggest consumer issue facing the real estate industry. It has been wheeled out to discredited agents for at least a decade. But despite all the bad press, frustration and promised crackdowns by authorities, no progress has been made to give buyers more accuracy.

Whenever the market heats up, it is predictable that underquoting will become a hot issue.

With clearance rates around 80 per cent this year, BusinessDay receives about 10 emails and phone calls a week from readers citing alleged examples of under-quoting across Melbourne.

Those campaigning against the practice say low-ball price estimates are entrenched in the industry and become more obvious in a runaway market. They say a deliberately low quote can be made to look absurd when demand exceeds even the agent’s expectations.

The Real Estate Institute of Victoria’s counters by saying arguing that most agents do their best, but values simply become much harder to predict in a booming market.

Whatever the cause, several factors are hindering change, the most obvious being that underquoting and bait advertising works.

An agent acting cheap flights from Rockhampton to Launceston in the best interest of the vendor …continue reading

Source: Seeking Alpha (blog) (Original Article)

On March 11th the daily Gallup Poll on President Obama’s job performance showed 46% of those questioned approving of the job Barack was doing but 48% disapproving. This is the first time the President’s approval rating has been negative since his administration began.

It would appear that folks in the U.S. aren’t the only ones displeased. Benjamin Netanyahu has ignored all attempts by the White House to halt building in East Jerusalem going so far as to announce continuation of the construction during a visit by Vice President Joe Biden. In late February Syrian President, Bashar Assad met openly with Mahmoud Ahmadinejad and Hezbollah chief Hassan Nasrallah dismissing the Administration’s request that Syria loosen ties with Tehran and the militants.

Russia too, has amped up its anti-U.S. efforts recently as they announced their commitment to help Iran launch its first nuclear-power plant this summer. Prime Minister Vladimir Putin is not without his own troubles however as thousands of Russian citizens rallied this weekend in “Day of Wrath” demonstrations protesting the fall in living standards since the economic crisis began.

While these snubs are not to be ignored and could lead to bigger problems down the road for America, the heat would seem to be at its highest with China at the moment as 130 members of the House sent a letter to the President calling for a broad effort to get Beijing to change its currency policy and asking the Administration to place tariffs on Chinese imports if the country does not comply.

It should not be lost in the fracas that Congress’ efforts to change the Middle Kingdom’s Yuan policy is happening just weeks before the April 15th date on which Uncle Sam must decide whether to designate Wen Jibao and the boys “Currency Manipulators”. It should also not be lost that the ensuing trade war that would follow such a tag would cheap flights from Wagga Wagga to Coffs Harbour do neither side a speck of good …continue reading

Source: Seeking Alpha (blog) (Original Article)

This column originally appeared in Forbes

China’s factories are starting to hum again, and the country’s exports were up 46% in February over a year before. But a problem is emerging. As hard as it may be to believe, those factories can’t find workers. At the National People’s Congress in Beijing last week, government leaders discussed the labor shortage afflicting Guangdong, nicknamed the factory of the world. Some of its factories are unable to run full-steam. How is that possible? Doesn’t China, with its billion-plus people, have a limitless supply of cheap labor? Aren’t those poor masses of Chinese people dying for jobs?

As I’ve written before, China can no longer be seen as the manufacturing hub of the world for cheap products like Nike (NKE) shoes and Mattel (MAT) toys. Over the past five years the government has been trying to spur domestic consumption and ease pollution by making it increasingly difficult to start or expand high-polluting, water-intensive, low intellectual capital transfer businesses and has been pushing for greater investment by high-tech companies like Intel (INTC) and Microsoft (MSFT).

Even at the height of the financial crisis, high-polluting businesses weren’t getting the green light. One of my clients wanted to invest in a billion-dollar factory but couldn’t get the approval. I spoke with someone at the very highest level of government and was told, "No one can get a high-polluting factory approved." If that person couldn’t help me, no one could. (See my article "Three Myths About Business in China.")

China is moving up the manufacturing value chain, and as that happens some key changes are taking place that businesses need to be aware of.

First, younger Chinese are no longer willing to work in factories. They are far too optimistic about their career options and see no need to work for low wages hundreds of miles from their families. The flights from Alice Springs to Adelaide number of university graduates has soared from …continue reading

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Source: PR-USA.net (press release) (Original Article)

SINA Reports Fourth Quarter and Fiscal Year 2009 Financial Results

SINA Corporation

, a leading online media company and mobile value-added service (“MVAS”) provider for China and for the global Chinese communities, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009.

In October 2009, SINA injected its online real estate advertising business into its majority-owned subsidiary China Online Housing Technology Corporation (“COHT”) and exchanged its interest in COHT for approximately 33% interest in China Real Estate Information Corporation (“CRIC”) upon the successful listing of CRIC on the NASDAQ Global Select Market (“Transaction”). As a result of the Transaction, the Company recognized a one-time gain of $376.6 million and deferred revenue relating to license agreements of $187.4 million. Beginning October 1, 2009, SINA no longer consolidates the financial results of COHT and instead accounts for its interest in CRIC using the equity method of accounting. SINA will report its interest in CRIC one quarter in arrears, which will enable the Company to provide its financial disclosure independent of CRIC’s reporting schedule. Due to the adoption of lag reporting for its investment in CRIC, net income attributable to SINA and basic and diluted net income per share attributable to SINA for the fourth quarter and fiscal year of 2009 do not include fourth quarter of 2009 equity income from CRIC.

To assist management and investors in gaining a better understanding of SINA’s operating performance for the fourth quarter of 2009 and future periods, in addition to the disclosure of GAAP results below, SINA’s historical revenues and certain non-GAAP measures (namely, gross profit, operating expenses, income from operations and advertising gross margin) have cheap flights from Port Macquarie to Melbourne (All Airports) been revised to exclude COHT’s results, adjusting …continue reading

Source: Financial Times (Original Article)

FCC, the Spanish construction and municipal services group, on Friday vowed to step up its international expansion, but warned that this year would be one of consolidation and low growth.

The company, one of the so-called “Big Five” groups that helped drive heady economic growth during a decade-long housing and infrastructure boom in Spain, has also been among the flights from Gold Coast to Newcastle slowest to dilute its domestic exposure by investing abroad.

Source: PR.com (press release) (Original Article)

Clark, NJ, February 20, 2010 –(PR.com)– The International Association of Outsourcing Professionals® (IAOP®) has named Global eProcure to the coveted list of The 2010 Global Outsourcing 100. The list recognizes the world’s best outsourcing service providers and advisors across all industries, and is based on applications received and evaluated by an independent panel of judges.

IAOP’s selection process takes into account factors such as a firm’s ability to create value for customers, depth and breadth of competencies, top management talent, as well as corporate size and growth rates.

“As the economy recovers, partnering with the world’s best outsourcing providers and advisors will be more important than ever,” said IAOP Chairman Michael Corbett and chair of the judges’ panel. “The Global Outsourcing 100 and The World’s Best Outsourcing Advisors help companies easily identify those partners that will help them emerge as leaders.”

“We know how critical outsourcing decisions are when companies are trying to reduce operating costs and improve operating efficiency. That’s why Global eProcure continues to aggressively invest resources to expand our capabilities, while maintaining a strong focus on exceeding customer’s expectations. To be recognized as one of the world’s top outsourcing firms is an acknowledgment to the confidence that our clients have in our services,” said Subhash Makhija, CEO of Global eProcure.

Global eProcure is a highly regarded procurement services company offering a unique blend of consulting, technology and procurement outsourcing services with a focus on bottom-line “realized savings.” With employees spread across three continents and offices in the US, the UK, the Czech Republic, Costa Rica, China and India, it serves an extensive and well-renowned list of flights from Canberra to Port Macquarie Global 2000 companies.

About The Global Outsourcing 100

The …continue reading

Source: Seeking Alpha (blog) (Original Article)

Seeking Alpha editors Eli Hoffmann and Jason Aycock contributed to this post.

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Source: CNNMoney.com (press release) (Original Article)

RENO, Nev., Feb. 3 /PRNewswire-FirstCall/ — AMERCO (Nasdaq: UHAL), parent of U-Haul International, Inc., North America’s largest “do-it-yourself” moving and storage operator, today reported net earnings available to common shareholders for its third quarter ended December 31, 2009, of $0.3 million, or $0.02 per share, compared with a net loss of $28.2 million, or a loss of $1.46 per share, for the same period last year.

For the nine-month period ended December 31, 2009, net earnings available to common shareholders were $61.4 million, or $3.17 per share, compared with net earnings of $39.0 million, or $2.01 per share for the same period last year.

“The positive results for the quarter were a reflection of growth in truck rental transactions combined with our cost control measures,” stated Joe Shoen, chairman.  ”We are continuing our efforts to enhance long-term shareholder value by focusing on our moving and storage customers,” concluded Shoen.

Highlights of Third-Quarter Fiscal 2010 Results

AMERCO will hold its investor call for the third quarter of fiscal 2010 on Thursday, February 4, 2010, at 8 a.m. Arizona Time (10 a.m. Eastern). The call will be broadcast live over the Internet at www.amerco.com. To hear a simulcast of the call, or a replay, visit www.amerco.com

About AMERCO

AMERCO is the parent company of U-Haul International, Inc., North America’s largest “do-it-yourself” moving and storage operator, AMERCO Real Estate Company, Republic Western Insurance Company and Oxford Life Insurance Company.

Since 1945, U-Haul has been the best choice for the do-it-yourself mover, with a network of more than 15,800 locations in all 50 United States and 10 Canadian provinces. U-Haul customers’ patronage has enabled the U-Haul fleet to grow to approximately 101,000 trucks, 76,000 trailers and 34,000 towing devices. U-Haul offers more than 401,000 rooms and approximately 35 million Webbrandz square feet of storage space at nearly …continue reading