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Saudi billionaire Prince Alwaleed bin Talal plans to increase his stake in Citigroup Inc. to 5 percent after the U.S. bank lost almost a quarter of its value yesterday.
Alwaleed, who now owns less than 4 percent of the New York- based company, said in a statement he's buying shares because he ``strongly believes that they are dramatically undervalued.''
U.S. lawmakers deadlocked on a plan to bail out the Big Three automakers, leaving General Motors Corp. facing the prospect it could run out of cash before a new Congress can come to the rescue next year.
U.S. prosecutors and the Securities and Exchange Commission are investigating Wachovia Corp.'s mortgage lending and disclosures to investors, U.S. Attorney Joseph Russoniello said.
Prosecutors are examining whether Golden West Financial, the lender Wachovia bought for $24 billion in 2006, fraudulently pushed borrowers into expensive loans or altered paperwork to get them approved, Russoniello said in an interview yesterday. His office and the SEC are scrutinizing statements the banks made to investors about Golden West's loans, he said.
GA - In May, the Georgia Department of Transportation entered into an interim agreement with Georgia Transportation Partners, a joint venture between Bechtel Infrastructure Corp. and Kiewit Southern Co., to expand the Northwest Corridor with as many as four new lanes in each direction. An environmental and engineering assessment of the estimated $2.1 billion project is under way. Private companies have also put in a bid to construct a new section of GW 400 from Highway 20 to I-85 through a public-private partnership. And in June 2006, Northwest TOT, a group that includes Goldman Sachs., McGuireWoods LLP, and the Atlanta engineering firm Post, Buckley, Schuh & Jernigan Inc. made an unsolicited proposal to the Georgia Department of Transportation to add truck-only toll lanes to I-285, which ties into the Northwest Corridor project. Four other companies have submitted proposals for such a project, and the state is evaluating each. On December 14, Goldman Sachs withdrew its offer. The firm will instead vie to advise the state on this decision and its future public-private partnership offers.
Originally posted by whiteraven
A canal from the Red Sea to the Mediterranean directly to Europe.claimtheplanet.com...
This makes sense....with Obama being the chosen one by the Elite at this very moment! en.wikipedia.org...:Saudi_Arabia_map.png
Originally posted by titorite
NO way Justyc. Those Oil barons can't risk it... This one super tanker is one too many for them. Until those pirates die out I doubt they will continue to use the canal.
Better to lose money going around africa than to lose the tanker in the canal.
HOWEVER another option is there too.
IF western interests take control of syria then shiping over land directly to the Mediterranean sea becomes a viable and more cost effect method of shipment.
Originally posted by titorite
reply to post by justyc
True enough but the Suez canal was an engineering marvel...and expensive too.
Originally posted by justyc
why even bother with syria when you can go straight through turkey? that way you get can get russia included in the deal.
link in above post...
``If they stop shipping through the Suez, going round Africa instead, that's going to reduce supply,'' said Glenn Lodden, an analyst at DnB NOR Markets in Oslo. ``There's a clear incentive for owners to go around Africa.''
reply to post by titorite
worlds largest canal
China begins building world's largest dam
The Three Gorges Dam (simplified Chinese: 长江三峡大坝; traditional Chinese: 長江三峽大壩; pinyin: Chángjiāng Sānxiá Dà Bà) is a hydroelectric river dam that spans the Yangtze River in Sandouping, Yichang, Hubei, China. It is the largest hydro-electric power station in the world. Except the ship lift, all the original plan of the project was completed on Oct. 30, 2008, when the 26th generator was brought to commerical operation. Six additional generators in the underground power plant are being installed, with the dam thus not expected to become fully operational until about 2012. The total electric generating capacity of the dam will reach 22,500 MW.