Jamie Dimon did not anticipate that the general meeting of shareholders of JPMorgan Chase is held five days after his embarrassing revelation of a "trading error" of over $ 2 billion. In Tampa (Florida), on campus surrounded by palm trees of the "back office" of the largest bank in the United States, the boss of giant New York to its shareholders renewed the apology on last weekend. "This would never have happened … All corrective actions will be taken," Jamie Dimon promised.

Despite these exceptional circumstances, the meeting lasted only fifty minutes. And how the bank treats its customers in trouble with their mortgages will be raised as many questions as the famous trading losses. That some called him "the king of Wall Street" will still be held accountable in the coming weeks. The FBI has opened an investigation into the matter. While those directly responsible for "gross error" already thanks, Jamie Dimon did not give details to its shareholders on Paris failed to in London. One reason for this silence: the bank losing positions are unsettled. In disclosing details could make things worse by giving to other market participants with useful information to speculate against the positions accumulated by JPMorgan Chase.

A motion put forward by pension funds was to separate the CEO of the bank as president of the board. Designed before the fiasco last week announced it scored significantly from 40% of the votes. Jamie Dimon, however, will therefore continue to accumulate these functions fast payday loan no faxing. And the advisory vote on remuneration received 91.5% of the votes, far more than many other banks recently shaken by their shareholders.

Institutional shareholders, however, promise to analyze closely how the error is trading will be paid next year. They want some of their bonuses are retroactively removed. "It is possible that we do this," said Jamie Dimon to reporters at the end of the meeting.

Rising prices

In mid-session Tuesday for the first time since Friday, the course was part of JPMorgan Chase upward, reducing to less than $ 16 billion loss of capitalization of the bank since Friday. At nearly $ 139 billion, the market value of the institution still exceeds by more than 60% that of its rival Bank of America and Citigroup.

Barack Obama invited a female talk show on ABC, has implicitly recognized that this case does not affect the strength of JPMorgan Chase. "JPMorgan is one of the best managed banks. Jamie Dimon, his boss, is one of the most intelligent bankers that we have. And despite this, the bank loses $ 2 billion and losses continue to rise … We do not know all the details. The case will be investigated. But it shows why we voted the Wall Street reform … We could have had a bank that was not as strong, not as profitable, but that would have taken the same risks and we could be forced to intervene, "said estimated U.S. President.

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The TGV will happen one day at Toulouse to Bilbao? The Pink City will she finally to 3 h 15 from Paris by train, against more than five hours today? The decision to build the new high speed lines (HSL) from Bordeaux will not be taken before long. But last Friday, a necessary step to making this project possible was reached: the Ministry of Transport has validated their route. By setting three new TGV stations at Agen (Lot-et-Garonne), Montauban (Tarn-et-Garonne) and Mont-de-Marsan (Landes).

If governments dither before launching the operation is that it will be very expensive. "At least 12 billion euros," said one expert. A huge sum when the coffers of the State and local governments are desperately empty because of the debt crisis. In February, the General Council of Lot-et-Garonne has already said he would not pay his bill for the Pharaonic site.

The hesitation is all the more palpable than funding another LGV, that between Tours and Bordeaux, was problematic. But this was "only" from one site to 7.8 billion. It was expected that 57 local authorities provide nearly $ 1.5 billion for this mega project won by Vinci in public-private partnership.

Finally, about twenty of these entities have defaulted. Foremost of these, the Regional Council of Poitou-Charentes led by Ségolène Royal, who refused to pay its contribution, fixed at 103 million euros. For this LGV can be built, the state decided to take the money for its support.

330 million accrued

It also will replace the General Council of Gers, who a month ago, is back on his promise to pay eight million for this line, as with other local authorities who have given up to get their hands in their pockets for this work. Of nudges that will not be pledged the state budget. The explanation? "Nearly 330 million had been provided by the State in 2011 to address a potential rise in interest rates which Vinci was exposed because the group had used bank loans to complete the operation, says an expert on the issue. But this rise in interest rates has not occurred. These sums have been used in part to address the failure of several local communities. "

Result, despite all these upheavals, the financing of the LGV Bordeaux-Tours is provided. And Lisea group, led by Vinci, can concentrate on the subject regardless of his income. Fortunately, as Europe's leading construction and concessions has not time to lose if he wants to meet the deadlines: the first trains will travel on this line as of July 2017 and will Bordeaux 2 hours from Paris against three today.

For now, Lisea, which was selected in March 2010 to complete this operation is on schedule. In February, the group obtained the approvals related to the protection of wildlife and waterways necessary to begin work. It also acquired 71% of the land where will this new line of 340 km. And if some owners may appeal to the justice of the decision on the expropriation, these procedures will not prevent the commencement of work. In addition, Vinci has completed all archaeological excavations on the route at the end of the year. Already, he started out small tasks related to land clearing or the connection of the new and the existing line.

But the real kickoff of the site will be given in a few weeks. "We will attack the earthworks in June, Tricot explains Hervé, President of Lisea. Four or five thousand people are at work in fifteen different places. This work will take three years, maybe less if the weather is good. "

]]> http://cw-white-gallery.com/the-route-of-the-tgv-bordeaux-toulouse-validated/feed/ 0 http://cw-white-gallery.com/jean-reno-future-hero-of-a-series-of-tf1/ http://cw-white-gallery.com/jean-reno-future-hero-of-a-series-of-tf1/#comments Sun, 01 Apr 2012 22:08:09 +0000 admin http://cw-white-gallery.com/jean-reno-future-hero-of-a-series-of-tf1/  

"I never agreed to turn in a series if it had not been open to international than that I propose today." Jean Reno, one of the biggest stars of the 49th edition of MIPTV, which runs until April 4 at Cannes, is entering the world became very select the TV series. It will be the key figure in the future production brought on a platter by Atlantic Productions (Lagardère Group) in TF1 and launches its first major international co-production.

In the purest tradition of French first commercial channel, "The Grand" is "an ambitious cop show" tour in English, created by Rene Balcer and (judicial NYPD, New York: Criminal Intent). "This is our first collaboration with Jean Reno in a series, says Laurent Storch, executive vice president of TF1, in charge of the cluster production. Its presence reinforces one of our convictions: building bridges between cinema and television. "

The actor, a great frequenter of blockbusters traveling, be sure seduced by the idea "of this series which is intended to be broadcast worldwide. I am sure that before long, she will even conquered the Asian market! "He smiles. Its role will be that of a Brigade commander whose criminal investigations take place in Paris. "The city is the second main character in the series," said one who promises to be "myself in this role. This is probably the one most like me today. This character is meant complex. This is not a single cop as I was able to interpret them so far. Jo has lived he has gray areas. It contains both the strength and humanity. "  

International Strategy

TF1 has signed for an initial season, the amount for each of the eight episodes around 2 million no teletrack payday loan. The first French chain has agreed to buy the pre-set to the tune of 900,000 euros per episode. It should not be on air until 2013. The fact that it is filmed in English is clearly strategic. "For four years, we position ourselves in the international market because we are in a world increasingly fragmented between different modes of dissemination programs, be it traditional TV, VOD, or catch-up TV. We must be able to offer strong programs of international stature. Here at MIPTV, 98% of the proposed programs are shot in English, "said Takis Candilis, CEO of Atlantic Productions. The latter is also in Cannes to complete its financing from major global players in the audiovisual sector. Already, it has the input of the distributor SevenOne International, a subsidiary of Germany's ProSieben Sat1 and claims to be on the right voice to convince.

Admittedly, Takis Candilis arrives crowned with the success of the Borgias, co-financed by Canal +. A second season of the series written by Tom Fontana is also being prepared for a total of thirty million. What are the ranks of the largest international producers. TF1, we will however cautious about a second season: "We see the success of the first," says Sophie Leveaux, artistic director of acquisitions group. It must be said that the chain headed by Nonce Paolini also a development project of international series with Luc Besson, for now still in limbo. For his part, Jean Reno is not opposed to a sequel but it intends to hire "for a limited time" so as not to sacrifice his career in film.

Click on the thumbnail to enlarge the graphic.

• Transfer taxes: 3.8 billion per year

Transfer taxes, a tax paid by households when buying their homes, would be halved in case of acquisition of the principal residence. According to the institute, this measure will generate a shortfall of 3.8 billion for counties and municipalities which are the current beneficiaries of the transfer taxes. It points to the difficulty of measurement (as distinguished primary residence and secondary). The entourage of Nicolas Sarkozy him figure the gross cost of the measure between 2.5 and 3 billion.

• Parental leave: 2.2 to 4,400,000,000 per year

The UMP candidate wants to relax parental leave. Its duration would remain up to three years, but it could be taken up until 18 years of the child, and not until he was 3. The cost of the measure is high but the range projected by the Institute of the company is large, the challenge is to anticipate changes in behavior: how many parents of children aged 3 to 18, with no " exhausted "their three years of parental leave, they will benefit from this new opportunity that will be offered.

• Unemployed older: 500 to 900 million annually

Nicolas Sarkozy promised the abolition of fees for hiring seniors in long-CDD or CDI of an unemployed person over 55 years, indefinitely. The encryption is based on an assumption of 35,000 beneficiaries per year (the team UMP is 50,000 to 60,000) and a reduced for 400 to 700 euros per month (higher than that chosen by the candidate's entourage).

• Contributions of craftsmen: 250 to 425 million

A craftsman is making any profit in the year 1700 euros to a demand of social contributions. The outgoing president wants to eliminate this floor to stick strictly to contributions proportional to income that is paid. The Enterprise Institute calculates a cost of between 250 million (corresponding to figure put forward by the applicant) and 425 million.

• Biometric Carte Vitale: 54 to 81 million euros per year

So far, the photo used on maps Vitale is simply sent by post. The additional cost, estimated at 15 euros per card, come from the need for staff to receive insured on site – in town halls, for example – check their identity and make their prints. It does not include a grant to the hundreds of thousands of health professionals so that they equip themselves with fingerprint readers (around 100 euros per enclosure).

• CIR: zero cost

Rather than being repaid after two years by the tax authorities, the research tax credit (CIR) would receive an advance by OSEO as a zero-interest loan "for small businesses that innovate ". An operation to "zero cost at cruising speed."

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"We hear a lot of glasses Eva Joly and François Hollande, yet the optical is not a matter for politicians," sighs Alain Gersel. President of the National Federation of Opticians France (fnof) has just sent an open letter to presidential candidates, how to draw attention to the conflict that opposes complementary health.

The glasses are poorly reimbursed by Social Security. Among the 15% of adults say they have sought care for financial reasons during the previous year, fourth evokes the optical (second position issue, behind the teeth). The role of complementary is therefore crucial. To reduce the amount their members out of pocket, while controlling the cost of repayments, they enter into agreements with opticians, constituting "managed care". The optician agrees to charge prices "reasonable" and comply with quality standards (glasses, antireflective treatment, preliminary estimate …). In return, the additional promises a certain volume of customers-the Mutual General Education (MGEN) guarantees member 1 to 1.5 per day per store. To achieve this, it does not require to visit the stores contracted but incites: no co-pay, third party payer reimbursement and often better.

First mutual health in France, particularly in the sights of opticians, MGEN reimburses 25% increase in its qualified opticians. Its network is "closed", that is to say limited to opticians on 12000 1900-that's what allows him to expect its partners a surplus of customers. Enough to arouse jealousy among the recalibrated? MGEN provides an optician on two postulated to integrate its network, which would mean about 4000 disappointed

. Legal offensive

The fnof aligned in any case the arguments "antiréseaux". First, the insured pushed a licensed optician might be forced to "40 or 50 km route" to find it. Proximity is especially important that opticians can renew and adapt prescriptions of ophthalmologists, a solution found in 2006 in response to the shortage of medical specialists. MGEN side, it was answered that few opticians established in villages: they are concentrated in cities, contact a professional under agreement would impose the worst to go one or two streets away. Second objection of the union of opticians: lack of customer follow-up, stores incoming and outgoing network each year. Finally, do some additional improvements that would offer rebates on a limited choice of lenses or frames, without clear to their policyholders. MGEN does not feel concerned with "170 000 references saved."

The fnof offers an alternative to further reduce their costs for: refund less often eyeglasses-many contracts support a pair a year while a renewal every three years would suffice.

Several legal offensives were also launched against the MGEN, one by the sign Afflelou, based on two grounds. The barrier to competition, on the one hand, but the mutual boasts favorable opinions of the Competition Authority and the DGCCRF (Bercy). The inability of a mutual practice different levels of reimbursement between its members, on the other. On this point, the case law is unfavorable to MGEN. Following a recommendation by the Court of Auditors to slow health spending, Parliament intended to remove this barrier to care networks in 2011. But the article of the law passed was censored for reasons of form.

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The current political developments in key countries of the South do not seem to reassure markets. The departure of Silvio Berlusconi and his replacement as head of government by Mario Monti has not calmed the markets doubt the ability of the new chief executive to impose Italian program of deficit reduction required by the European Commission .

Last night, hours before the summit, Nicolas Sarkozy and German Chancellor Angela Merkel put pressure on Greek Prime Minister George Papandreou. It wants a referendum on the European rescue plan for his country. French and German leaders asked him an ultimatum: "the question to the Greek people come down to this: do you want it not to remain in the euro area?"

24:37: "Finally, the G20 officially begins, says Cyrille LACHEVRE, Special Envoy of Figaro in Cannes.Nicolas Sarkozy welcomes everyone while Europe, meeting in Council emergency continues to struggle online payday loans. "

24:18: "The EU treaties do not provide output in the euro area without leaving the European Union, the European Commission confirms the sidelines of the G20, about Greece. The only option on the table is that Greece is the euro. "

24:10: immediate response of the Secretary General of the Greek prime minister to the call of the deputies of the majority: George Papandreou "did not resign, will not resign."

24:09: The Greek Socialist MEPs propose a coalition government led by former Vice President of the European Central Bank Lucas Papademos, according to Reuters citing sources internal to PASOK, the socialist party majority

12:08: "The extraordinary summit between EU leaders continues.

"There is no question that I invest in this action. There is no visibility. They mastered neither the personnel nor the cost of oil prices. They face strong competition from other companies, "said one portfolio manager bad credit payday advance. This opinion, indeed radical, summarizes the weariness of many managers who do not want to invest in Air France KLM.

The numbers speak for themselves. Market capitalization is more than 1.67 billion euros, less than 7% of annual sales and less than 25% of equity. The group is in any case weighed down by a net debt of 6 billion euros.