Thursday, August 5, 2010

Goldbug 100 - BP (BP.L) - President Obama & the Media scaremongering?

Earlier I read an article in doing our investigation that there is a natural leakage of gas and oil in the Gulf of Mexico and twittered a link to the page at the time. I tried to locate it today and found this on Google


Global Marine Oil Pollution Information Gateway • Facts • Natural ...


U.S. Minerals Management Service (MMS): Natural oil and gas seepage in the coastal areas ... U.S. NASA: Tons of oil seep into the Gulf of Mexico each year. ...
oils.gpa.unep.org/facts/natural-sources.htm - Cached - Similar

Crude oil and natural gas seeps naturally out of fissures in the ocean seabed and eroding sedimentary rock. These seeps are natural springs where liquid and gaseous hydrocarbons leak out of the ground (like springs that ooze oil and gas instead of water). Whereas freshwater springs are fed by underground pools of water, oil and gas seeps are fed by natural underground accumulations of oil and natural gas (see USGS illustration). Natural oil seeps are used in identifying potential petroleum reserves. As pointed out by the National Research Council (NRC) of the U.S. National Academy of Sciences, "natural oil seeps contribute the highest amount of oil to the marine environment, accounting for 46 per cent of the annual load to the world's oceans. -- Although they are entirely natural, these seeps significantly alter the nature of nearby marine environments. For this reason, they serve as natural laboratories where researchers can learn how marine organisms adapt over generations of chemical exposure. Seeps illustrate how dramatically animal and plant population levels can change with exposure to ocean petroleum".

NOAA describe a natural seepage area in California: "One of the best-known areas where this happens is Coal Oil Point along the California Coast near Santa Barbara. An estimated 2,000 to 3,000 gallons of crude oil is released naturally from the ocean bottom every day just a few miles offshore from this beach". (730,000 to 1,095,000 gallons a year - believe th figure mentioned for the Gulf was 5,000,000 gallons a year but checking this fact)
 .

BP's Gulf Oil Leak Ranks as World's Worst Caused by an Accident ...

3 Aug 2010 ... BP Plc 's crippled Macondo oil well spewed 4.1 million barrels of ... us to get a decent estimate to figure how much oil is coming out, ...
www.bloomberg.com/.../bp-s-gulf-of-mexico-oil-spill-ranks-as-world-s-worst-caused-by-an-accident.html - Cached

Aug. 3 (Bloomberg) -- Haag Sherman, chief investment officer of Salient Partners LP, discusses the outlook for BP Plc's efforts to raise funds to pay compensation for the Gulf of Mexico oil spill and the company's agreement to sell fields in Colombia to Ecopetrol SA and Talisman Energy Inc. for $1.9 billion in cash. Sherman speaks with Scarlet Fu on Bloomberg Television’s “In the Loop With Betty Liu.” (Source: Bloomberg) 

BP Plc’s crippled Macondo oil well spewed 4.1 million barrels of crude into the Gulf of Mexico during the 87 days before it was capped, a team of scientists said, making it the world’s largest accidental offshore spill. 

BP siphoned off an additional 800,000 barrels from when the well exploded on April 20 to when it was capped on July 15, the U.S. government-appointed group said yesterday in its latest estimate of the worst oil spill in U.S. history. 

The Macondo spill exceeds the 3.3 million barrels that the Royal Swedish Academy of Sciences estimated leaked from Mexico’s Ixtoc-1 well in the Bay of Campeche (Mentioned in th article that I was looking for*) after a blowout in 1979. The world’s worst spill was in the 1991 Persian Gulf War when retreating Iraqi forces opened oil pumps, causing the release of 6 million barrels, according to the U.S. Environmental Protection Agency. 

“The number should be thought of as our best estimate,” Ira Leifer, a University of California, Santa Barbara researcher and one of the scientists on the team appointed by the U.S. Energy Department, said in a telephone interview yesterday. 

* Will publish here if and when I find


The bottom line is that the BP oil spill according to Bloomberg was 4.100.000 barrels and at Coal Oil Point along the California Coast near Santa Barbara. An estimated 2,000 to 3,000 gallons of crude oil is released naturally from the ocean bottom every day just a few miles offshore from this beach but we do not see the American President ranting and raving every day on television about this do we.

We thought that America was a democracy - that you were innocent until proved guilty but that does not seem to have been the case to date with BP

The President looked pleased yesterday, his birthday with the news from BP. Had he bothered to do his research earlier and read this article he would not have been suprised at nature taking its course would he?


the impartial British Press said Political and Media scaremongering
 
It is reported the sale at BP gas stations have fallen 40% during the scaremongering.  It is reported that there are many spotless beaches lacking tourists due to the scaremongering, but the President has said that BP will cover the costs - not the scaremongers!
 
It was irresponsible reporting on the part of Bloomberg television to show Tony Hayward with an untasteful editing reporting "I don´t know. I wan´t there. I don´t know............" It is a great pity that Howard Hughes was not sat in Tony Haywards seat in front of Congress on that day.
 
The sad thing about this is that the scaremongering has become paramount not the loss of life due to the accident
 

Vodafone News! - Samsung Galaxy S (Free McLaren Mercecedes Rucksack worth £39.99)

Inbox - eCheck payment in progress "Scammer steals Shelly Bondoc´s name & hides behind our domain name for AntiAbuse)"

We have got this hard faced person sending this spam again this week going under the name of Shelly Bondoc (Scammers usually hide behind a famous person) and hiding behind our name as before (see below - X-AntiAbuse: Original Domain - itccommunications.net) We have not given the sender permission to use our name so this correspondence must be considered fraudulent and should be deleted - Further the subject is misleading "eCheck payment in progress" Do not be fooled by this person
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Shelly Anne Bondoc | Facebook


Shelly Anne Bondoc is on Facebook. Join Facebook to connect with Shelly Anne Bondoc and others you may know. Facebook gives people the power to share and ...
www.facebook.com/people/Shelly...Bondoc/100000470703099 - Cached

Inbox - trabajo/eur 3000 por mes (esto es una estafa)

Esto es una estafa de correo electrónico y la investigación indica que el pasado tiene su origen en Lagos, Nigeria y otro sitio ha dicho que este tipo de cartas es la búsqueda de personas para el blanqueo de dinero en concepto de sus actividades ilegales de piratería informática en las cuentas bancarias de personas. Por supuesto que usted solicitó para el trabajo y se aceptaron que no sería consciente de lo que se te piden que hagas. Sólo dile eso al juez y ver lo que dice. Han tenido la cara dura de usar nuestro nombre de dominio como remitente del correo electrónico.

Sent: Thursday, August 05, 2010 12:43 PM
Subject: trabajo/eur 3000 por mes

iHola!

Nuestra compania admite los colaboradores aut?nomos con un sueldo de 1010-2053 euro por semana.

 
Los requisitos de los aspirantes son: edad de 18 a 55 anos, hombres y mujeres, residentes en Espania o en los paises vecinos, el acceso a Internet y correo electronico.
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Pensamos que el estafador sabe que hemos expuesto su primera carta a nosotros esta mañana aquí en el presente, la segunda es más informal

Goldbug 100 - TOMKINS (TOMK.L) - Canadian offer for company undervalues it

On Bloomberg ticker today - that Tomkins (TOM:L) was considerably undervalued
.
It would appear that the directors have everything to gain and the shareholders everything to loose. Before the rise in the share price on new of the offer one broker said that it was undervalued by two thirds (c225p)

reference article - 12:36, Tuesday 18 May 2010
"We see this as an asset backed business, with a strong balance sheet, and excellent turnover and profit visibility," it told clients in a note this morning. "The stock offers a 6.0% dividend yield and is trading at a 16% discount to our March 2011E NAV." Tomkins (LSE: TOMK.L - news) , the maker of systems and components for the industrial and automotive markets, could be worth up to two-thirds more than its current market price in Nomura's best-case scenario."
,
We trust that the directors will abstain from voting on the takeover over as with respect their appears to be a conflict of interest. Read below and if a shareholder vote against if you consider that the bid is undervalued - If so perhaps there should be a change at the top?
, 22:43, Tuesday 27 July 2010
 
The board of Tomkins (LSE: TOMK.L - news) issued a statement yesterday which highlighted the company's exposure to cyclical US consumer markets.

It seems to me that we're probably at, or near, the bottom of that cycle. Indeed Tomkins helpfully pointed out the likelihood of further economic uncertainty hitting the company. Against that backdrop David Newlands, chairman, is recommending shareholders accept an offer from Onex (OCX.TO - news) , a private equity fund, and sell. But against that backdrop, given Tomkins' quality and potential, why not hold on for recovery and reap the benefits that Onex is quite obviously keen to enjoy.

The market has undervalued Tomkins but shareholders should thank Onex for highlighting this and insist suitably incentivised management get on and realise that value not pass it on at a bargain.

, 17:47, Tuesday 27 July 2010
 
LONDON (Reuters) - Tomkins Plc , the British maker of car parts, industrial hoses and bath tubs, backed a 2.9 billion pound takeover offer from Canadian investors that would be the year's largest leveraged buyout.

Tomkins (LSE: TOMK.L - news) said a trio of investors owning more than 9 percent had also formally backed the $4.5 billion offer from Onex (OCX.TO - news) , Canada's largest private equity firm, and the C$127 billion (78.8 billion pound) Canada Pension Plan, the country's second-biggest pension fund.

But the board's recommendation, eight days after Tomkins revealed takeover talks, sparked anger from 2.97 percent shareholder Standard Life Investments, which had already urged investors to reject the approach as too cheap.

SLI Head of UK Equities David Cumming said the deal's pay and bonus agreements gave management "massive incentives" to "deliver returns to private equity rather than to current shareholders." A share scheme could allow Tomkins managers to own up to 15 percent of the new company.

Tomkins Chairman David Newlands said despite the opposition of SLI (SLIXQ.PK - news) and a "very small institutional shareholder," he expected wide backing for the deal, which is structured as a scheme of arrangement that requires 75 percent backing.

"The feeling I get from the rest of the shareholders is that we will get a substantial amount of backing," Newlands, told Reuters in a telephone interview, adding that he was first approached by Onex about a deal in late March.

Another top-ten shareholder told Reuters the offer was a reasonable price for a "bog-standard manufacturer" whose Chief Executive, Jim Nicol, had already wrung out possible cost cuts. "It feels fair and it might be more than fair if the economic environment gets worse," this investor said.

Tomkins shares leapt nearly 5.3 percent to trade at their highest since May 2006, and just below the 325 pence-a-share offer price.

"BUNS TO GUNS"
The deal would be 2010's largest buyout globally, according to Thomson Reuters (TRI.TO - news) data, and the largest in Europe since Terra Firma bought EMI Group (LSE: EMI.L - news) in May 2007 for $6 billion.
.
It could also mark the end of what was once one of Britain's biggest industrial groups, dubbed the "buns to guns" conglomerate in its 1990s heyday because it owned both food group Rank Hovis McDougall and .357 Magnum (3735.KL - news) maker Smith & Wesson.

In a string of other deals, North American buyers have snapped up UK engineers, lured by reasonable valuations, strong market positions, a weaker pound, and the relative ease of buying into Britain.

Collins Stewart (LSE: CLST.L - news) analyst Mark Wilson said the bid did not reflect "any kind of premium for the fair value" of Tomkins but was likely to succeed barring a "very unlikely" counterbid.

Wilson (Oslo: WILS.OL - news) said the offer places an enterprise value (EV) of 12 times estimated 2010 earnings before interest and tax (EBIT), against a UK capital-goods average of 13 times, and the buyers could enjoy a 20 percent internal rate of return (IRR).

NEGATIVE FORECAST

Tomkins said Pinafore -- Onex and CPP's acquisition vehicle -- had received irrevocable undertakings from Schroders (LSE: SDR.L - news) and JP Morgan Asset Management to vote in favour of the deal. Arrowgrass, a hedge fund spun out of Deutsche Bank (Xetra: 514000 - news) , also intends to use its 0.28 percent position to back the deal.

Tomkins said the recommendation reflected its negative forecast for the company's second-half performance and that its shares were trading at 230 pence before news of the approach.
"If you look at the economic indicators, it's unlikely the second half will be as a strong as the first," Newlands said.

Asked if Onex and CPP were likely to break up Tomkins, whose stable of companies includes Gates, the U.S. maker of belts and hoses for cars and machines, Newlands said the consortium were very supportive of the firm's management team.

Onex and CPP will contribute $1.1 billion each of equity funding and have raised $3 billion of debt finance from Bank of America Merrill Lynch, Citigroup (NYSE: C - news) , Barclays Capital, RBC (RBCI.PK - news) and UBS (Virt-X: UBSN.VX - news) . Tomkins had net debt of about $260 million on July 3.

JPMorgan Cazenove advised Tomkins, while Citi advised the bidders.
.

Tomkins shareholder slates $4.5 billion takeover offer | Reuters


22 Jul 2010 ... LONDON (Reuters) - A shareholder in Tomkins (TOMK.L) urged the UK car parts maker on Thursday to reject the 325 pence cash offer ... "The proposed bid materially undervalues the group and its prospects," said David ...
www.reuters.com/article/idUSTRE66L4FY20100722 - Cached
.




  1. TOMKINS Share Price TOMK TOMK.L - Interactive Investor





    4 posts
    The company news service from the London Stock Exchange ..... Tomkins PLC (TOMK:LSE) set a new 52-week high during Tuesday's trading session when it ... closing price - is this still undervaluing the compny? bring on the counter bid! ...
    www.iii.co.uk/investment/detail?code=cotn:TOMK.L&it... - Cached - Similar




  2. TOMKINS PLC (TOMK:LN): Transactions - BusinessWeek





    29 Jul 2010 ... rejected the offer as it materially undervalues Tomkins plc. Pinafore has received irrevocable undertakings from the Independent Directors, ...
    investing.businessweek.com/.../research/.../transactions.asp?...TOMK... - Cached




  3. urs Resources | BNET





    In a note, Moran said the company "has demonstrated competitive. .... L) received a $4.5 billion bid approach from a Canadian consortium, the latest example ...
    resources.bnet.com/topic/urs.html - Cached




  4. Business News - Indian Stock Market, Stock Market News, Business ...





    22 Jul 2010 ... LONDON (Reuters) - A shareholder in Tomkins (TOMK.L: ... "The proposed bid materially undervalues the group and its prospects," said David ...
    82.118.73.16/assets/print?aid=INTRE66L4FY20100722 - Cached

Inbox - trabajo/eur 3002 por mes (esto es una estafa)

Esto es una estafa de correo electrónico y la investigación indica que el pasado tiene su origen en Lagos, Nigeria y otro sitio ha dicho que este tipo de cartas es la búsqueda de personas para el blanqueo de dinero en concepto de sus actividades ilegales de piratería informática en las cuentas bancarias de personas. Por supuesto que usted solicitó para el trabajo y se aceptaron que no sería consciente de lo que se te piden que hagas. Sólo dile eso al juez y ver lo que dice. Han tenido la cara dura de usar nuestro nombre de dominio como remitente del correo electrónico.

Sent: Thursday, August 05, 2010 7:51 AM
Subject: trabajo/eur 3002 por mes

Le saludo!

Nuestra compania admite los colaboradores aut?nomos con un sueldo de 1060-2071 EURO por semana.
.
Los requisitos de los aspirantes son: edad de 18 a 55 anos, hombres y mujeres, residentes en Espania o en los paises vecinos, el acceso a Internet y correo electronico.

No complete esta sección. Acaban de cambiar el nombre de dominio desde el intento de estafa cartas última

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Envie los datos a la direccion Remedios@es-position.net
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Dentro de 1-3 jornadas laborales recibira una descripcion detallada. Nuestra propuesta es valida hasta 31/05/2009

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Por favor, envie a la direccion indicada solo la informacion necesaria, y nada mas.

Esperamos la cooperacion

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Inbox - Info (delete email as this is a Scam - Phishing attempt)

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You are a winner of 750:000 pounds,

Please acknowledge the receipt of this mail with the details below to
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Russell Grant's Daily Horoscopes: Thursday 5th August 2010

Weekly HoroscopesHoroscopes
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Aries (Mar21/Apr20) You sense someone's trying to cover up a mistake or bluff their way out of a tense situation. Most of what they say should be taken with a pinch of salt. What's being implied has little relation to the truth. The fact you understand their predicament and intend to overlook some mistakes just goes to show how tolerant, broadminded and fair you can be. Even so you won't forget they now owe you a favour!
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Taurus (Apr21/May21) You might be going over some old work, reading reports written in the past or checking an essay. If there's something you aren't sure about don't ask the boss for their opinion. This is your chance to prove you can learn from your past mistakes. Make any changes that are necessary if you must present this work to others for a second time. Be willing to laugh at yourself or make a joke at your own expense if you got some points horribly wrong!
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Gemini (May22/June21) Use any free time you have available to do something relaxing and personally fulfilling. Start a blog, finish a painting, hunt out that book you've been meaning to read for ages. You've always had a tendency to work too hard so no matter what anyone says, concentrate on your own needs for a change. If you're doing something you enjoy, you are using your time positively, even if your mind is on anything but business and responsibility!
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Cancer (June22/July23) It's not easy to settle into your usual routine when another person's health or problems are on your mind. You had high hopes of finishing a job you're now working on but it seems impossible when you can't concentrate on even the easiest task. Sometimes you get the results you want and other times you won't. If you manage to get through it all without making any mistakes you should be happy. You can't expect any more of yourself than that.
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Leo (July24/Aug23) A hobby, task or job you volunteered to do is starting to feel stale. Although this isn't causing you any more than the average amount of stress, you are growing bored and restless. Whenever this happens it's always a good idea to change gears for a wee while. A switch of topics will perk you up mentally and make you feel less like pulling out of arrangements that mean a lot to others. Somehow you will see things through to the end.
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Virgo (Aug24/Sept23) Most days you find the best way to deal with problems is to power through the blockages in your way. Even so there are times when you simply can't find a way through the obstructions. You might feel as if you're wading through treacle and getting no further forward. On a day like this it would be best to take a break and return to the matter causing the problem when you feel refreshed. Everyone has a bad day every once in a while and it's nothing to be ashamed of.
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Libra (Sept24/Oct23) Either you or those you're involved with have underestimated the time a job would take. Something you hoped to get out of the way early on keeps you tied up for longer than you'd like. Not a very encouraging start to the day! You're aware others are relying on you and you don't want to let them down. You're also annoyed with yourself for having got lumbered with this task. Had you been more alert, you could have avoided it.
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Scorpio (Oct24/Nov22) You're conscious of another person's increasing curiosity; their inquisitiveness is starting to annoy you. There are some people who just can't seem to stop themselves from prying into matters that don't concern them. You're dealing with issues related to intensely personal, health or career matters and you want to keep these secret. It will be vital for you to be firm when you tell others to mind their own business.
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Sagittarius (Nov23/Dec21) You need to make it absolutely clear you're only going along with what's going on because you have no choice. The majority have gone against the minority and you are against what is currently happening. You sense people are making a big mistake but they won't believe you until they are proved wrong. Hopefully it won't come to this but you can't help feel that what occurs now is doomed to failure.
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Capricorn (Dec22/Jan20) You're caught in a web of confusion and you hate it when you can't make a decision due to the turmoil around you. Either people haven't been honest with you or someone has been cleverly hiding the truth through being careful about how much they tell you. A person you had a lot of respect for has come down rapidly in your estimation. It isn't a good idea to do anything on impulse. Give yourself a chance to take everything in and you could come up with a workable plan.
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Aquarius (Jan21/Feb19) You get most things done in the early hours of the morning these days. That's when you're more alert and there are fewer distractions around. As the day progresses you always seem to end up running around all over the place, constantly in demand by family, work mates and friends. To make things worse a younger male colleague has been shirking his responsibilities. The good news is: it's unlikely he will get away with this for much longer.
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Pisces (Feb20/Mar20) Health or money problems may occur and cause setbacks you hadn't planned for. You could make a potentially dangerous mistake if you take on too much or try to rush through jobs which need care and attention. There will be time to catch up later in the month when you aren't feeling so tense or anxious. For now, it's important to prioritise and deal with those matters that are currently on your mind.

Sara Freder's FREE Personal Horoscope