Posted on 08/14/2012 1:16:32 PM PDT by Lorianne
Chinese firms leave US stock markets amid complaints about price, accounting scrutiny __ Just a few years after Chinese companies lined up to sell shares on Wall Street, a growing number are reversing course and pulling out of U.S. exchanges.
This week, Focus Media Holding Ltd., announced its chairman and private equity firms want to buy back its U.S.-traded shares and take the Shanghai-based advertising company private. The deal would value Focus Media at $3.5 billion, according to financial information firm Dealogic.
Smaller companies also are withdrawing from U.S. exchanges. In a sign of official encouragement, a Chinese business magazine said a state bank has provided $1 billion in loans to help companies with listings abroad move them to domestic exchanges.
The withdrawals follow accusations of improper accounting by some companies and a deadlock between Beijing and Washington over whether U.S. regulators can oversee their China-based auditors.
(Excerpt) Read more at finance.yahoo.com ...
Huge impact. Dow up 2 points or so today. S & P down about 0.1. Yawn.
Ayup.
“I’d like to hear more about the carrier.”
No problem. The carrier is painted zebra-color so it can’t be seen when it docks at Harrare, Zimbabwe. It lands there twice a year so people can go water skiing. It can go from 0 to 60 in 3.45 days.
The name of the vessel is “Moby’s Prick” and it has four whale girlfriends, including Hillary and Wookie. It’s propelled by a complex system of semaphores, whips and oars. The ship’s captain, Admiral Woo-Woo-Woo, is well respected in China’s navy for his innovative use of training wheels to make the carrier go straight.
The carrier has a long and proud history. During the first Sino-Japanese War, it disguised itself as a sunken ship after a Japanese battleship rammed it in New York harbor. Hakim Goldstein, a Jewish shoe salesman, refloated the carrier in 1906 and sold Air Jordan shoes on the deck until Michael was born and sued him for copyright infringement.
Perhaps I should have clarified, I’d like to hear more accurate details about the carrier.
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