Madoff victims feel misled by anger and grief
March 13, 2009 by
Filed under Business
Victims of fraud Bernard Madoff said Thursday that criminal financier andalusia see go to jail in handcuffs satisfaction generated only a mild and slightly to the feeling of sorrow and deceit.
Madoff, who pleaded guilty to fraud and other criminal charges before a federal court in Manhattan, has left thousands of victims who stole the savings of a lifetime.
Several of them met in the District Court of the United States in downtown Manhattan to express their fears and frustrations, worried about their future and Madoff wondering how he managed to perpetrate the largest financial fraud in the history of Wall Street.
“It’s a pyrrhic victory and bittersweet,” said Miriam Siegman, 65, of New York City, who won a tight grip at the end of the presentation in court Madoff.
The consultant said that he had lost retirement savings of a lifetime with the fraudulent investments and Madoff now receive vouchers for food.
“I have no one to help me. He is in jail does not change anything,” he said. “I still have the rest of my life to live, or try to live is an incredible tension and total poverty. He took everything.”
Outside the court, Madoff victims were dealt with by reporters and photographers eager to hear what felt when they saw Madoff, some for the first time since his arrest in December, others for the first time in his life.
Many who invested with Madoff never met him.
“I wanted to see the faces of some of those who destroyed her life, but makes no difference,” said Cynthia Friedman for 59 years. She and her husband Madoff said they did lose the $ 3 million.
Burt Ross, 65, said he was not considered a survivor and a victim of the plot of Madoff after losing $ 5 million.
In trying to describe how still wakes every morning to see his wife at his side, Ross’s voice broke and he paused for several seconds to dry her tears and regain composure.
“The things that matter, I have and he can not quitármelas,” said Ross.
Brad Friedman, a lawyer representing about 100 victims of Madoff, said his clients were seeking to recover at least part of the money from the hands of family members Madoff.
“We will go after them. This is not over for nothing,” he said.
Madoff wife would have trouble retaining property
March 13, 2009 by
Filed under Business
NEW YORK (AP) – If you want to stay with Ruth Madoff sumptuous apartment in the living, retain their millions of dollars in cash and jetset life style while her husband is in prison, experts recommend that it is ready for an inquisition . Lawyers and securities experts say that will have difficulty Madoff andalusia want to prove their assertion that the $ 69 million of the couple are not related to fraud pyramid of her husband.
“It will be very difficult to prove that nothing is stained,” noted Alton Abramowitz, vice president of the National Academy of Matrimonial Lawyers of America.
Some angry investors suspect that the money ended up in the hands of Ruth Madoff. At the court hearing that her husband pleaded guilty on Thursday, the mere mention of his name provoked ridicule and laughter.
But although she was not charged with any crime, Ruth Madoff fortunate to be thoroughly investigated by federal prosecutors and civil lawyers.
Investors will want to see receipts for personal bank accounts, credit card receipts, tax returns and checks paid, as well as documents for your business.
“The process gives us the right to look around to try to prove that Mrs. Madoff won not only their money,” noted Jeffrey Sonn, a specialist stock of Fort Lauderdale, Florida, who represents dozens of victims of Madoff. “It’s an intrusion, but this is the procedure.”
What these credit card receipts show is a pleasant life, with homes in Palm Beach, Florida, in southern France and at the tip of Long Island, plus a penthouse worth $ 7 million in an exclusive area of Manhattan. Also, include air travel and private yachts.
Ruth Madoff, 67, worked with her husband from the beginning, and reportedly had an office close to him until the end, when he was arrested in December.
The couple had two sons, Mark of 44 years and Andrew, 42, who are talking with investigators.
Now the life of privilege of the couple gradually disintegrates under criminal and civil cases.
A lawyer for Mrs. Madoff, Peter Chavkin, refrained from making statements on Thursday. But your client has to prove that their assets from their own income or their own money, and not mixed with ill-gotten proceeds of crime money from her husband.
Is probably already preparing his defense with the help of her husband.
In a long speech on Thursday, Madoff told the judge that parts of their business was legitimate and successful, apparently in an effort to demonstrate that some of the family assets are separate from the fraud.
“You’re trying to save the rest of his family,” said Judith Welling investor. “We need to know who else was involved, and obviously we need to freeze the assets of all of them to help victims,” he added.
Madoff and his lawyers also assert that the department of Manhattan and an additional $ 62 million in bonds and cash can be exempted from going to the investors because they are on behalf of Ruth Madoff and are not related to fraud.
“We are all skeptics with that because, how she won 70 million dollars?” Asked Sonn. “You need to show the path to establish that comes from another source other than the values of Madoff.
New jump on Wall Street, after hours of good news
March 13, 2009 by
Filed under Business
According to preliminary calculations, the Dow Jones industrial average soared 239.66 points in order to make more than 600 units in its profit for the past three days. This is the biggest jump of the main reference in three days since last November.
The rise of 3.5% in the day to put in the Dow Jones 7170.06 points.
The Standard & Poor’s 500 degrees or 4.1 units rose 29.38% to 750.74 and the Nasdaq composite index jumped 54.46 points or 4%, to 1426.10.
The gains came after a special board said that Congress could recommend a relaxation of rules for troubled banks.
The turbulence in the banking industry has preoccupied the market since 2007, and the hope that the banks can finally get relief in the way they value their assets lack liquidity fostered a wave of buying.
“We could find that banks are not so bad or not bad, if these assets are identified in a different way,” said Doreen Mogavero, president of the brokerage Mogavero, Lee & Co.
Figures for retail sales, better than expected, also helped the titles, as well as the positive news of four companies comprising the Dow Jones: Bank of America Corp., General Electric Co., General Motors Corp. and Pfizer.
The CEO of Bank of America said the company has been profitable this year. Citigroup unleashed a wave of highs this week with similar statements.
In addition, General Electric had a less-than-expected reduction in their credit and reported that General Motors would not need a loan of 2,000 million dollars that the government had sought.
Pfizer, meanwhile, reported a successful test of a drug against cancer.
“I do not know how things have been recovered in a week,” said Scott Bleier, president of CreateCapital Advisors. “But there certainly is a better than two weeks ago.”
Nobody believes that they have finished low on Wall Street. The outlook for the economy is too uncertain and much of the highs this week was caused by technical factors. One such factor was the willingness of investors to buy securities to cover bets “in short, betting that some will fall.
But this week has been more positive in the stock market for months. The Dow Jones Wilshire 5000, which reflects the performance of almost all shares traded in the U.S., has jumped 11.2% during the last three sessions. This is a gain of 900,000 million dollars.
“There are a lot of money on the sidelines, and many people who have waited to enter the recovery,” said Mogavero. “I think probably people will want to put some money in the market.”
The Russell 2000 index, which measures the performance of smaller companies rose 23.82 points or 6.5%, to 390.12.
After a modest decline observed on Monday and three days of shopping, the Dow has risen 8.2% so far this week. The S & P 500 advanced 9.9% and the Nasdaq 10.2%.
The shares rose by more than exceeded that fell to 10-1 on the Stock Exchange of New York, where trading volume was 1810 million titles.
The prices of government bonds rose, with the performance certificate from the Treasury 10 years to 2.86% on the 2.91% seen on Wednesday.
The dollar strengthened against major currencies, rose gold and crude oil had an increase of $ 4.70, to 47.03 a barrel on the New York Mercantile Exchange.
In other international markets. The British FTSE 100 rose 0.5%, the German DAX rose 1.1% and French CAC-40 rose 0.8%. The Japanese Nikkei fell 2.4% and Hang Seng in Hong Kong rose 0.6%.
World richest people – 793 people are part of our list of billionaires worldwide in 2009
March 13, 2009 by
Filed under Business
The rich, like the rest of us have had to cope with a financial crisis in the past year. At present, 793 people are part of our list of billionaires worldwide, a reduction of 30% over last year.
From 1125 up to the billionaires list last year, and 373 are not included, because their fortunes declined 355 and 18 because they died. There are 38 new members over three magnates who returned to the list again after reaching a fortune of more than 10 digits. For the first time since 2003 the world lost billionaires.
The world’s rich are also much poorer. His fortune amounts to a combined net total of $ 2.4 billion, about $ 2 billion less than last year. The average net wealth fell by 23%, to $ 3 billion. The last time we had an average so low was in 2003.
Bill Gates lost $ 18 billion, but kept his title of richest man in the world. Warren Buffet, the No. 1 last year, saw his wealth decline by $ 25 billion when the shares of Berkshire Hathaway fell almost 50% in 12 months, but still he managed to drop only a place to become No. 2 on our list. The Mexican telecom entrepreneur Carlos Slim Helú, also lost $ 25 billion and fell to the No. 3 post.
It was hard to escape the killing, whether it was in the bag, the market for raw materials, real estate or technology. Even those that were profitable businesses were hit by frozen credit markets, consumers spend little coins and increasingly weak.
The person who lost more this year, in dollars, who was won over last year. Indians Anil Ambani lost $ 32 billion (76% of his fortune) when its shares of Reliance Communications, Reliance Power and Reliance Capital collapsed.
Ambani is one of 24 Indian billionaires, except one, are all poorer than last year. 29 other Indians completely lost its status as multimillionaires when Indian stock market fell by 44% last year and the value of the rupee depreciated by 18% against the dollar. India is no longer the country with more billionaires, that gave rise to China which has 28.
Russia has become the epicenter of the decline of the market for raw materials, finishing with 55 billionaires (two thirds of their harvest of 2008). Among them: Dmitry Pumpyansky, an industrial region of the Ural Mountains, which lost $ 5 billion when the shares of its factory pipes, TMK, fell 84%. Who also left the list is Vasily Anisimov, the father of the Moscow version of Paris Hilton, Anna Anisimov. This man lost $ 3.2 billion if the value of Metalloinvest Holding, one of the largest mining companies and mineral processing in Russia, fell along with their real estate properties.
Twelve months ago, Moscow has overtaken New York as the capital of the world with 74 billion dollar against the 71 magnates of New York. At present, there are 27 in Moscow, while in New York is 55.
Having fallen in recent years, EE. UU. resuming his power is as a store of riches. Americans account for 44% of the money and occupy 45% of places on the list, which means an increase of seven and three percentage points respectively compared to last year. Still, it has 110 billionaires from the previous year.
Most hurt were those whose fortunes were linked to Wall Street. Former AIG director Maurice (Hank) Greenberg, saw his fortune of $ 1.9 billion almost completely disappears when the government of the United States. UU. had to get bailed andalusia giant insurance. Today, Greenberg fails to raise $ 100 million. The former president of Citigroup, Sandy Weill, also disappeared from the list.
Last year there were 39 U.S. billionaires fund investment managers free, there are 28 this year. Twelve of the giant U.S. private equity outside the list of billionaires.
Stephen Schwarzman of Blackstone Group, who lost $ 4 billion and Kohlberg Kravis and Roberts’ Henry Kravis, who lost $ 2.5 billion, retaining its status as multimillionaires despite its diminished fortunes.
Worldwide, 80 out of 355 falls with regard to the list last year were from the world financial fortunes and investment.
While 656 billionaires have lost money last year, only 44 increased their fortunes. Those who won money were those aimed at consumers concerned about the budget (Tadashi Yanai of UNIQLO), predicted the crisis (the investor John Paulson) or just in time effect (Guy Laliberté from Cirque Du Soleil).
So, is there a place where one can make a fortune today? These 38 new entrants offer a few clues. Among the most notable of the new billionaires are the Mexican Joaquin Guzman Loera, a major supplier of cocaine to the United States. UU., Chuanfu Wang of China, whose byd Co. began selling electric cars in January, and John Paul Dejoria who keeps clean the world with his Paul Mitchell shampoo and happy with their Tequila Patrón.
10 Questions that you should never ask in a job interview
March 13, 2009 by
Filed under Business
These 10 questions are less suitable for a job that should never arise, unless you do not want the job.
1. “What makes your company?”
This was a reasonable question for an interview in 1950 or 1980, before the Internet existed. Currently, it is your job to investigate any company to have an interview before putting a foot in it. We need to introduce a job knowing what the company, who your competitors and what their successes (or challenges) have been reported recently.
2. “Will you check my background?”
It is amazing how often a candidate for a position does this question, causing alarm in the interviewer, instead of a more general “could you please tell me a little about their selection process from this point “. Many people have problems with his record of concern to them during their job search or are not sure how solid the references could be given a job. If you are invited to a second interview, then you can deal with any sensitive issue of its past. Asking “are you going to check my background?” makes it appear that it has something to hide.
3. “When can I apply for a pay rise?”
Companies pay people to fear than what they should pay as much as fear of more, because a person who is not paying enough in relation to their counterparts in the labor market is a person who could leave soon post. Instead of asking for its first increase before getting the job, he can ask (in a second interview) “Does your organization a conventional performance review and pay once a year.”
4. “Do you have another job available?
Job hunting requires fast thinking at the time of speaking honestly and, if a job is below your abilities, you’ll do better if he speaks with candor rather than turn to the case with this question. It does not need to discard the option is offered, might say, “job sounds interesting, but frankly, I was earning 30% more people and supervised in my previous job. Could you help me understand the career of this role? . This gives the interviewer, if being given a hint to mention another vacancy that may exist.
5. “How soon can be transferred to another job?”
When you answer this question, is announcing “I will go to the first opportunity.” If you like the work, accept it. If not for you, wait for the right opportunity. Almost all workplaces will keep you in doubt for at least a year before approving an internal transfer, so look for a job with the idea probably will not work after changing the way you had hoped.
6. “Could you tell me which lines of public transport are at your site?
Enter the Internet and find out for yourself. Problem is not possible to find the pattern that you get to work.
7. “Do you have to go on smoking breaks?
If you work in retail or a call center could apply breaks. In the rest of the work, do not ask if your urge to smoke gets so into his work that he feels the need to investigate the matter, ask your best friend or your partner to help you stop smoking as a gift for finding a new job. Many companies ban smoking on their premises and some do not like to hire smokers. Why give a possible reason for rejecting a boss?
8. “Is (my condition) covered by your insurance?”
This is a bad question for two reasons. Should not be a perfect stranger to our medical problems, especially when the person is deciding whether or not to give us a job. Ask to see a copy of the prospectus provided by the company when you make an offer. This is a bad question from a standpoint of view, only a tiny percentage of people in human resources, and no department manager, knows all the diseases covered by your insurance plan. Either way, your pre-existing condition not covered under almost any corporate plan for at least a year.
9. “They ask for a drug test?”
If you have any philosophical objection to drug testing, wait until you are asked to undergo one and express your objection. Otherwise, your question sounds more like, “do not pass such a test, so you better not ask.
10. “If you hire me, can I wait until (a period of more than three weeks from the date) to start working?”
After hire, give a firm anticipates a period of at least two weeks to notify his change of job in your current job. If you are not working, you would like to see it before. If you order too long before starting to work-unless you have a very good reason, who hired him would think, “How serious is this candidate about the job.” In any case, if you want to request an extension to the date of commencement of work, request after receiving an offer for the position. Not before.
This article was retold and it was written by Liz Ryan
Selected 50 applicants to get the “best job in the world”
March 6, 2009 by
Filed under Business
SYDNEY – Fifty people from twenty countries have been selected as candidates for “the best job in the world”, consisting of live paridisíaca an island in Australia in exchange for a sueldazo, informed the organizers. There had been 34,684 applicants worldwide.
Dancers, scientists, businessmen, students … The offer has attracted candidates of all types, originating from countries like USA, Canada, France, Britain, Russia, India, China, Japan, Malaysia, Kenya and South Korea. All dream of being chosen as the ‘guardian’ of Hamilton, a tropical island in the Great Barrier Reef in Australia, which offers the tourist office of the State of Queensland as part of a campaign to preserve the state’s tourism industry during the current crisis economy.
The job has a salary of $ 100,000 for six months, including air travel from home to the island. The obligations are swimming, surfing, sunbathing, strolling … and reflect this in the Internet by a ‘blog’ that fine gloss experiences with the support of videos and photos. Of the 50 prequalified, only 11 participate in the final. Travel to the island to undergo interviews by the May 3 to May 6, when the winner will be announced.
Read interesting jobs news for freelancers.
