Year: 2008

Categories
Economy Travel

Visit Shanghai

Reading Time: 2 minutes

Last Updated on December 16, 2008 by stlplace

Amid all these financial crisis, I will fly to Shanghai tomorrow: not to rescue the economy but I will get first hand glimpse on China economy. Shanghai is the economy center of China, just like New York is the financial center of the US.

The mood in the US is not good. The Big 3 car makers are still waiting for the emergency fund from the White House and Treasury. The governor of Illinois is allegedly involved in “selling the president elect’s senate seat”, things we usually heard from developing democracy. This incident also put some clouds on the president elect’s leadership. Leadership? Did we ever see any leadership in this country lately, except bailout the Wall Street guys (Bear, Fannie/Freddie, AIG, TARP, Citi,…).

Continue reading “Visit Shanghai”
Categories
Economy

Got to see a real manufacturing plant

Reading Time: < 1 minute

Last Updated on December 12, 2008 by stlplace

Lots of travel lately. After I got back from Chicago last Saturday evening, I was on the road again on Sunday afternoon. Destination: Florida. This Sunday I am going to travel back to Shanghai, and spend some time there.

Florida trip is a bit nostalgia one as I got to see a real manufacturing plant, a window/door manufacturer. I said nostalgia because my first job fresh out of college was a job in manufacturing plant in Shanghai. This week when I heard the noise from the factory floor and saw the machines and workers on the floor, it reminded me of those days. Of course these days one big news got all the media attention is the US car makers bailout. The US manufacturing sector has been shrinking for a quite while even before current recession, due to many reasons: globalization, rising labor cost, etc. After all, a factory job usually is not well-paid. On the other hand, the work usually involves sweat and hard work. This also reminds me when I was a little kid, my parents told us (me and my bros) to stay hard so that we can get away from being the agriculture work. Same thing has happened in the US, fewer and fewer people like to do the physical labor, more and more people want to make fast money. One reason for the boom and bust of financial/housing sectors in last decade.

But the manufacturing sector is and will be an important sector of modern economy, no matter how advanced the technology are. We got to live in a house, have refrigirator, AC, washing machine,…all of which take human’s hand to make, although a lot of the manufacturing processed have been automated by machines.

Categories
CFA Travel

Back from Chicago

Reading Time: 3 minutes

Last Updated on December 16, 2008 by stlplace

First I would like to say Chicago is freezing cold. I did not spend much time outside, but I did feel it when I was waiting for the bus and train from Midway to hotel (and back). It’s a short trip, 29 hours exactly (4PM yesteday to 9PM today), and the main purpose was taking (retake) CFA I test at McCormick Place, one of the top exhibition center in North America.

Hyatt Regency McCormick Place
It’s decent, although not perfect considering its $179 (pre-tax) room rate. I can hear some noise from the neighbour or the hallway. And the comforter (quilt) in hotels seems always too thin for me. The bed is good (I am thinking buying the Hyatt Grand Bed/mattress now). Two features I found interesing (and useful), the self check out kiosk and the board pass printing kiosk.

fastboard boarding pass print kiosk

CFA test scene

Continue reading “Back from Chicago”
Categories
Life Tips Travel

Expedia Citi Premier Card

Reading Time: < 1 minute

Last Updated on December 16, 2008 by stlplace

When I was booking the Hyatt hotel at Expedia a while ago, it offered me the Expedia Citi Premier Card.

Expedia Citi Premier Card

I went ahead and did it, to get the $50 off for the first purchase (the hotel booking). They do offer another card, which gives back up to $100, with an annual fee of $75. I decided I don’t want that 🙂

Interestingly, Citi only gave me $2,000 credit limit. I remember earlier this year, Citi gave me $4,000 on the Professional card. Just another sign the bank is tightening the credit (lending).

To be fair Citi is not the worst, JP Morgan appears to be more strict. Earlier this year when I asked them about Home Equity Line of Credit, they gave me a same credit limit as I have now with a rate higher than my current rate. What’s more recently I received a mail from them, they are closing a dormant credit card of mine. I am just curious:

What are the money Treasury give to those banks? Did they put it under mattress?

Categories
Economy

Should we bailout the big 3 car makers?

Reading Time: 2 minutes

Last Updated on December 16, 2008 by stlplace

Obviously the big 3 auto makers came back to news with the Congressional hearing today. This big 3 Washington show started before the Thanksgiving with the “corporate jet gate”, in which the reporters and some congressmen questioned the 3 CEOs taking corporate jets to ask for money: it like one begs for money while wearing George Armani. But I think the media coverage and the US congress acted (reacted) too much on this show.

In my mind, this is not about politics, unions vs. the car company, mid-west (Detroit, or Michigan) vs. southern states. I am thinking saving big 3 (GM, Ford, Chrysler) is critical to the US economy and manufacturing. If the big 3 fails:

1) Midwest states, esp. Michigan will be hit big. Michigan is already in trouble with declining domestic car makers, the fall of one auto maker will devastated the state.

2) American will lose the icons such as Chevrolet Corvette or Ford Mustang. Don’t think that as a minor thing, as psychology does play a role in economy, consumer sentiment and the financial market.

Continue reading “Should we bailout the big 3 car makers?”
Categories
CFA gadgets

Got RIM, booked Chicago trip

Reading Time: < 1 minute

Last Updated on December 3, 2008 by stlplace

Got some RIM stock (Nasdaq: RIMM) yesterday, as I saw some weakness have already priced into its current price. At P/E (ttm) of about 12, and projected single digit growth in 2009 (after serveral years hyper growth), the expectation on the stock is really low these days. At the same time, the newly released Bold (AT&T) and Storm (Verizon) should give them some boost, to counter the attack from 3G Apple iPhone (AT&T) and G Phone (T-Mobile). RIM released its preliminary 3Q results and here is an analyst view (Canaccord).

My Blackberry 8820
I have owned it for almost a month now, and I liked it. I took some advice form Jeremy (blog), and intalled Google Mobile App including GMail Mobile and Google Maps Mobile. Had I have this Google Map, I would not have lost my directions last Friday evening (after a party at friend’s place, and I did not want to ask police because I had a little beer).

Chicago trip
I also booked the Chicago trip for CFA. Since the test will be hold in McCormick Place and I don’t want to drive much, I booked the Hyatt at McCormick Place. To offset the hotel cost, I decided to take the public transportation from Midway airport to the hotel. Seriously I did check the airport shuttle but upon further examination, the travelling time is not as short as public transportation.

Categories
Saint Louis

Snow, Baidu, Chesapeake, Pilgrim’s Pride

Reading Time: 2 minutes

Last Updated on December 1, 2008 by stlplace

(Update) Felt I am like a car-thief today: had to climb from back seat to front seat, because the front doors were frozen due to snow. Don’t know how the by standers felt?

(Original) It started to snow here in St. Louis, yesterday morning I saw a little bit snow on the car, this morning I found more snow when I got up.

Saint Louis snow 2008 pic
(Full size pic here)

Baidu
The trouble for Baidu appears to be mounting, as lawsuit on the Ads came in. The information on Baidu (Nasdaq: BIDU) is quite effient actually, compared to most other Chinese ADRs listed in the US. I still remember the hype around its IPO in Summer 2005, one year after Google’s highly successful IPO. As an old Chinese saying goes “higher climb, sharper drop”, or a western saying goes “quick rise, quick fall”. Same philosophy goes to my CROX stock trade last year 🙁

Pilgrim’s Pride

Continue reading “Snow, Baidu, Chesapeake, Pilgrim’s Pride”
Categories
CFA Life Tips

CFA, extend airline membership miles etc.

Reading Time: 2 minutes

Last Updated on December 4, 2015 by stlplace

schweser CFA pic

Final push for Dec 6 CFA I
Working on Schweser practice exam now. One lesson from last June test is too little practice exam (only one). Lets see if I could complete all 3 practice exams by Dec 5: with careful reviews and reading on weak spots.

Unite miles for WSJ
I got this idea from Kiplinger’s a while ago. And I have used this tip twice now. Last year I used it for my NWA miles (I had 33,000 miles from my China trip a while back); yesterday I used it on United for WSJ subscription. Redeem newspaper magazine can not only make the life of miles longer, but also supported the newspaper/magazine business. Plus, reading from the real paper (vs. computer, blackberry) can get me into better thinking. Also, keep in mind I tried to redeem the miles for air ticket as first choice, the magazine is just a way to burn some miles while extending the life of unused miles.

Continue reading “CFA, extend airline membership miles etc.”
Categories
Life

Thanksgivings and Black Friday thoughts

Reading Time: < 1 minute

Last Updated on November 29, 2008 by stlplace

The Indian Mumbai incident caught a lot attention these two days (started on Wednsday Nov. 27 10 PM Indian time). Obviously this is extra-ordinary and tragic event (there are no winners). But I would like to share two story I heard yesterday and today, both of which are much closer to our daily lives.

I heard this one from a caller at NPR Talk of Nation, the caller told an old story: about 30 years ago, she was a single mom with two kids, someone leaves a basket of things (from food to toys) every month to her doorstep. Obviously that gift helped her and her kids tremendously during that time. After she finished college and got a better job, she found out the anonymous giver from local grocery store and then she asked the giver to find another needy family: she started to do the same thing for the other family. It’s like a relay of giving.

Another story I heard today. We all know today is Black Friday, and there are many bargain hunters in stores. Yours truely had first hand experience at local Best Buy store (just stop by check out things), and the crowd is big as usual, which make me think are we really in recession? Anyway, this is the story caught my attention: A worker died after being trampled and a woman miscarried when hundreds of shoppers smashed through the doors of a Long Island Wal-Mart Friday morning, witnesses said. (Source: NY Daily News). This is just insane. What (if anything) is more precious than someone’s life? Another sad thing is: who can the victim family/friends blame for? All the people who step over the victim?

If I had some interest looking for deals today, suddenly I lost all of it…

Categories
Fun Stocks

Saving Citi Bank

Reading Time: < 1 minute

Last Updated on December 4, 2008 by stlplace

CNBC Maria Bartiromo interviewing Saudi prince Awaleed, the largest shareholder of Citi Group (NYSE: C), after the US gov (aka we the tax payers) bailed out the Citi and the prince. Here are the terms (PDF). Maybe president Bush gave him assurance that his holding won’t get much diluted before the rescue? The video lasts 18 minutes.

Where is the money for Detroit auto makers, by the way? Sorry no Saudi prince owns the big 3 stocks, and nobody can call the President directly.