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06 февраля, 11:16

В Италии дан старт строительству нового завода по переработке РАО

В Италии осуществлена заливка бетона в фундамент нового завода Cemex, который предназначен для цементирования радиоактивных отходов, накопившихся в прошлом в результате деятельности экспериментального завода Eurex. Напомним, в Италии, начиная с 1960-х годов, эксплуатировались 4 одноблочных атомных электростанции – Гарильяно, Латина, Каорсо и Энрико Ферми. Однако на референдуме, прошедшем после чернобыльской...

31 января, 17:31

The Art Of The New Deal: How Trump Is Using Mexican Company Cemex's Concrete To Build The Wall And Profit Both Countries

The press has been ablaze with reports that Mexico is stonewalling against Trump’s demands that they pay, in one form or another, for the wall. Some speculate that the wall will not be built at all. But research by Disobedient Media indicates that not only will the wall be built, but that it has strong support among certain Mexican business interests such as cement producer Cemex who has been actively lobbying to ensure that Trump and his allies take office and begin construction. I. Cemex Is Best Positioned To Benefit From The Wall, And Does Not Have A Major Competitor In The United States According to information published by the Global Cement Directory, Cemex is the largest producer of cement in North American and does not have any American competitors of equal size. It has been described in a diplomatic cable released by Wikileaks as being one of "Mexico's monopolists" with a market share of 87.6%. Data collected using the installed capacity of companies’ integrated cement plants shows that the US does not even break the top ten list of cement producers globally. Cemex, however, ranks fifth, far ahead of their only Western competitor in Brazil. Source: Global Cement Directory Cemex is a major producer, with plants and operations in over 50 countries worldwide. It has acquired a number of assets in the United States. With quarries on both sides of US-Mexico border it is positioned better than any other firm to act as the main supplier of raw materials for Trump’s wall. The map below shows the location of quarries belonging Cemex and other corporations on the border. Source: Financial Times The logistical and economic nightmare of having to move cement further than 200 miles means that Cemex is ideally positioned to be the primary supplier for Trump's wall. Additionally, contracting with dozens of American companies to provide cement would greatly complicate the building process. Trump, a man who prides himself on completing projects under budget and ahead of schedule, is unlikely to shun Cemex when seeking materials. While Trump has made the creation of American jobs the central selling point of his Presidency, he has also stated that the wall will “help” Mexico. In the case of Cemex, it becomes clear how the wall will, at least in part, help Mexico: no matter which country pays for it, some of the funds will return to Mexican firms who help the United States with construction. Contracting with Cemex for the concrete used to build the wall is a win-win situation for both Cemex and Trump. Cemex employs thousands of Americans in their U.S. operations. By contracting with Cemex, Trump is able to deliver on his promise not just to benefit Mexico financially, but to also help ensure that American jobs are retained and possibly more created by Cemex as it ramps up operations to meet American textile demands for the wall. II. How Cemex And Trump Mutually Benefit From The Wall Donald Trump’s presidential victory signals a new direction in the relationship between the United States and Mexico. Beyond the wall, both states stand to fare well from Trump’s plans to overhaul the U.S. economy and renegotiate America’s trade deals. Financial sources are already beginning to speculate that Mexico could help the United States return a greater percentage of its trade deficit to North America. At the moment, over 90% of America's trade deficit is held by countries outside the continent. At the same time, companies such as Cemex will benefit from the weakening Peso, which has dropped since Trump’s election. The dropping Peso has been held out by some as a sign that Trump's Presidency is having a negative effect on Mexico. However, the weakened currency actually makes the products sold by companies such as Cemex more attractive to foreign buyers. Not only will the weak Peso make a better deal for Trump and the United States, but it also gives added assurance to Cemex that their concrete will be used to build the wall. The payout, estimated to be over $700 million for concrete and $240 million for cement, would be greatly welcomed by Cemex in the aftermath of their first reported quarterly profit in over seven years as they ride a surge in their company's valuation on the stock market. Source: seekingalpha.com Cemex is one of many building material companies who have seen a major rise in the aftermath of Trump's reiteration of his desire to build the wall. Beyond operations on the border, the wall's construction would signal a general increase in infrastructure investment. Source: Bloomberg III. Cemex Provided Political Support For Trump Allies In what appears to be a political game of deal making, a Cemex affiliated PAC run by Executive Vice President Frank Craddock was found to have engaged in a campaign of support for political candidates who were most likely to help ensure that the wall would become a reality. Information compiled by the Center for Responsive Politics from data provided by the Federal Election Commission shows that the Cemex Inc. Employee Political Action Committee donated more than 80% of its funds during the 2016 cycle to Republican candidates. The majority of the Republican recipients listed as having received donations from Cemex have either expressed political support for Donald Trump or for the policy of building a security wall on the border with Mexico. This revelation clearly indicates that Cemex sought to help ensure that Trump would have a Republican majority both in the House and Senate to make certain that construction of the wall would proceed. Aside from the political boost Cemex's donations have given to Trump in the long run, there is no indication that the favor was returned in any type of pay for play arrangement. However, it is interesting to note that Newt Gingrich, who supported a tariff which negatively Cemex in the 1990's, was not offered a senior position on Trump's staff. The relationship between Cemex and the United States is the perfect illustration of Donald Trump's dealmaking diplomacy. With a shrewd eye for business, Trump is able to pick out valuable regional players and encourage partnerships which will not only benefit the United States and deliver on his campaign promises, but also help inject capital into foreign firms and boost employment rates across their nations. The media on both sides of the border will likely continue to cast shadows on the likelihood of a wall and a Mexican-American agreement on how it will be funded. But as evidenced by Cemex's rising fortunes and willingness to reach out and assist Trump financially and politically, Trump's New Deal is one that nobody wants to refuse. This article was originally posted at www.disobedientmedia.com

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19 декабря 2016, 16:29

Sempra Energy (SRE) Unit Buys Ventika Facility in Mexico

Sempra Energy's (SRE) Mexican unit, Infraestructura Energetica Nova, S.A.B. de C.V. ("IEnova") has closed the acquisition of the Ventika I and Ventika II wind generation facilities in the country.

09 декабря 2016, 14:00

Nearly 5 Million U.S. Jobs Depend on Trade With Mexico

Arguments that policies such as NAFTA have killed American manufacturing jobs often ignore the many other American jobs that such deals create and support.

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30 ноября 2016, 16:00

Why Top Management Should Listen to Activist Investors

Activist investors who expect to raise returns by influencing strategic decisions are having a meaningful impact on many industries from consumer-packaged goods to aerospace and defense. And the odds that your company, or industry, may find itself targeted by an activist are going up. Activists launched 159 campaigns in 2015 focused on shareholder value maximization, nearly double the 88 that were launched the year before. If you are a senior executive in a company concerned about activists, you have two potential paths: take the defensive (and perhaps expected) posture of defending your current strategy, or embrace the challenge and reassess your company’s path to value creation. Activists’ interventions are often described, favorably or not depending on your point of view, as slashing and burning, taking out cost, and engaging in financial engineering. But that’s an unfair oversimplification. Many activists are asking some very tough and fundamental strategic questions: Are the company’s investments in the right place?  Is the company’s portfolio too diverse?  Are there difficult moves that must be made to create a winning strategy?  Senior executives should consider these questions carefully, since the rise of corporate activism is unlikely to slow any time soon — either way — these very basic but important strategic questions must be addressed. Simply improving short-term performance by cutting costs across the board isn’t the answer – activists can do that themselves, simply by taking out 10% from your company’s cost baseline. You need to look at costs as strategic investments that ultimately drive growth: which costs, if cut, would actually destroy shareholder value by diminishing growth or competitive advantage? And as an insider with the right perspective and access to granular company data, you can match or exceed what outsiders may be able to offer your investors. Take the time to reassess your company’s path to value creation. You have clearly thought about these strategic questions before, but constraints on your business and short-term issues may have stood in the way of  the answers – or at least at looking at the questions as an outsider might, and possibly arriving at different conclusions about the business. Now, you will have to translate your strategic thinking into a value creation plan that your management team and board will embrace.  You will have to be clear-minded about such questions as: What are the simple approaches to value creation that have worked in the industry, and do they still apply? What advantage do we have — or can we create — in the market, and how do we maintain and extend this advantage? What is our company great at doing? What is our promise to the market and to customers? What is needed to execute against that promise? Defining your aspirations that way and combining them with the capabilities required to fulfill those aspirations will give your company the best chance to create long-term value … and to address activists’ concerns and capitalize on the opportunities and ideas they bring. For our recent book we studied companies from a broad range of industries that operate this way, including Apple, CEMEX, Danaher, Haier, IKEA, Inditex (known for its Zara apparel business), Starbucks and many others. These companies may do business in a dozen different sectors, but everything they do nonetheless fits together in a coherent way. Apple’s online services, smartphones, and computers, for example, all rely on the same capabilities for design and integration. Starbucks applies its capabilities in talent management and distinctive retailing to everything it does. Danaher designs, manufactures, and markets industrial and consumer products in industries including dental, industrial technologies, environmental, and life science and diagnostics, and has distinguished itself by its outstanding shareholder return and its focus on continual improvement, across all its businesses. When your company has developed that kind of clear identity, you have leverage and insight that other companies –and activist investors –do not have. When investor Carl Icahn wrote to Tim Cook in 2014, with concerns about insufficient cash growth and share undervaluation at Apple, Cook’s response was measured. He eventually did buy back stock and increase shareholder dividends, but his response about television and cars was such that Icahn stated publicly that whatever Tim Cook decided was completely Tim Cook’s decision. Danaher, similarly, has good relationships with activist investors. In fact, the company was formed by Steven and Mitchell Rales, who were corporate raiders and understood the value of coherence from the start. Aetna CEO Mark Bertolini described the positive impact of coherence on stock value: “The magic question is: Are your business fundamentals sound enough so that you can consistently deliver a product to customers that they will continue to buy over time? If people believe your business fundamentals are sustainable, it will move the stock price higher.” Some CEOs might resist this approach: they may feel locked into the constraints given to them, or may simply want to avoid the risk of change — hoping that potential disruption or industry structure changes that activists initiate will leave them unharmed. But we’ve seen that movie over and over, and we know how it ends. The better course is to build a case for your company’s fundamental advantage, and lay out your plans for improving it and driving value creation.

24 ноября 2016, 17:38

Компания из Мексики поможет Трампу построить стену

Компания-производитель цемента из Мексики заявила о готовности оказать свои услуги новоизбранному американскому президенту Дональду Трампу, который ранее заявлял о намерении возвести стену на границе между США и Мексикой для борьбы с потоком мигрантов.

24 ноября 2016, 17:38

Компания из Мексики поможет Трампу построить стену

Компания-производитель цемента из Мексики заявила о готовности оказать свои услуги новоизбранному американскому президенту Дональду Трампу, который ранее заявлял о намерении возвести стену на границе между США и Мексикой для борьбы с потоком мигрантов.

12 ноября 2016, 16:00

The Companies Trump Has Criticized

How are they doing now?

10 ноября 2016, 20:38

6 Stocks & ETFs to Avoid on Trump's Win

Investors should stay away from these stocks and ETFs as Trump makes it to White House.

02 ноября 2016, 15:38

Jacobs (JEC) Secures Role in Australian Transport Plan

Jacobs Engineering Group Inc. (JEC) declared that it has been selected as a member of the prestigious Fulton Hogan Seymour Whyte Joint Venture (FHSW JV) by the Department of Transport and Main Roads of Queensland.

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03 октября 2016, 15:52

New Strong Buy Stocks for October 3rd

New Strong Buy Stocks for October 3rd

26 сентября 2016, 09:00

Holding pattern

Are markets going to enter a holding pattern this week?  Obviously, that doesn't mean that nothing can or will happen, but it's a bit more of a comment on the mindset of the marketplace.  Consider the state of play in various major markets:US:  With the Fed, obviously it's a waiting game, almost certainly until December.    And while both Yellen and Fischer speak this week, it's not like there's been a lot of new news since last week's FOMC announcement to change the picture.  Payrolls isn't until a week from this Friday, and earnings season kicks off the week after that.  Sure, there's data this week, but the "highlight" (Macro Man is struggling to contain a gaga reflex) may well be this evening's first presidential debate between Clinton and Trump.  Maybe if Trump "wins" the debate convincingly there will be a trade to go long Cemex, short MXN....Europe:  The ECB is on autopilot for the moment, and like the Fed is generally out of the picture until December.  The biggest event on the near-term calendar is Italy's constitutional reform referendum, which the latest polls show as too close to call.   As a reminder, Prime Minister Renzi has said that he will step down should the vote fail; while he's kind of tried to dance  his way around that recently, it seems safe to assume that a No vote would see Italy descend back into political chaos.   While this is admittedly not an unusual state of affairs over the last 70 years or so, it nevertheless would not engender much confidence in certain institutions (cough, Monte dei Paschi, cough).  Maybe the market will feel comfortable enough to deploy risk in either bullish or bearish directions before the vote, though somehow betting on a too close to call election doesn't seem to carry much edge.UK:  Now that the Tory Party Jeremy Corbyn has won the Labour Party leadership election, it's back to waiting for Godot Article 50.Japan:   The BOJ has given us quantitative easing with yield curve control, and uh....OK, there you go.  The one thing that Macro Man found somewhat bemusing was the big song and dance made about this in some quarter and surprise registered in others that long end JGBs rallied after the announcement.   Uhhh...maybe the Japanese version of the statement was different from the English one, but there was no explicit mention of long end yield targets, and the only explicitly named measures that could impact long end yields were ones designed to keep them down.  Maybe things will change in the future, but the future isn't now.China: With the 19th Party Congress slated for next year, it is apparently all about keeping the balls in the air (and stealthily depreciating the RMB) for as long as possible.Hey, at least we've had some data already- New Zealand's trade balance for August was much worse than expected.   Even that, though, looks to be largely a function of seasonality- for the last few years, the trade balance has reached a local nadir at roughly this time of year.   So while it's nice on the margin for AUD/NZD, Macro Man somehow doesn't think it's enough to jolt the market out of its prospective holding pattern. source:  worldeconomiccalendar.com

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