Got increase a little bit lor ...
Waiting for a rainy day to really test the signal ...
Wonder what it would look like on the roof of my house ... :P
American Insurance Group, the insurance giant that is 80-percent owned by the US government, is in discussions with the government to secure additional funds so it can keep operating after next Monday, when it will report the largest loss in U.S. corporate history, CNBC has learned. said the loss will be near $60 billion due to writedowns on a variety of assets including commercial real estate.
That massive loss is likely to spur downgrades in its insurance and credit ratings that will force AIG to raise collateral that it doesn't have.
In addition, if AIG's book value falls below a certain level, as it seems certain to do, it will trigger default in certain of its debt instruments, say people familiar with the situation.
All of this adds up to a huge headache for the Federal Reserve and Treasury, which have already provided over $150 billion of assistance to AIG.
Talks between the government and AIG are focussed on how the company can swap some of the debt held by the government for equity in AIG.
The problem is that the government's ownership stake cannot exceed its current 79.9 percent, leaving officials to try and find a creative way to transfer value to the US in exchange for AIG reducing its debt so that it can then borrow more from the government to meet its collateral calls.
AIG has borrowed roughly $40 billion from a $60 billion credit facility provided it by the Federal Reserve Bank of New York. If it can find a way to pay that down by swapping equity, it hopes to take it back up to a level that will allow it to meet its collateral and capital calls.
AIG's board is scheduled to meet this Sunday night in hopes of hammering out an agreement with the government. But in case it can't, AIG's lawyers at Weill Gotschal are preparing for the possibility of bankruptcy.
That seems unlikely, but last November, the government took control of many of AIG's credit default swaps and so a bankruptcy of the holding company might not pose the systemic risk it once did.
AIG said in a statement it had not yet reported results and would provide an update when it does so in the near future.
"We continue to work with the U.S. government to evaluate potential new alternatives for addressing AIG's financial challenges," AIG said. U.S. Treasury officials declined to comment.
Please keep your GPS out of sight when you left your car
Original Post : Mr./Ms. Days (MMDays) - 網路, 資訊, 觀察, 生活 - GPS 淺介
Fresh Gear is running a Chinese New Year trade-in promotion for the HTC Touch Diamond. Mechanism is simple; just trade-in any phone or PDA and get an instant rebate of RM600 (or more) for your purchase of HTC Touch Diamond of RM2,799. So, if you have that old phone lying around doing nothing and wanted a new HTC Touch Diamond, get one before stocks run out!
Some of the common questions asked.
Q1: What if my trade-in phone is worth more than RM600?
A1: We will honor the higher value trade-in offer if your phone/PDA is worth more than RM600.
A2: We accept all phones/PDA as long as they are in working condition.
Q3: Can the trade-in rebate be used on another PDA?
A3: Nope. This special RM600 rebate is only for HTC Touch Diamond. The price after rebate is RM2,199. You can choose either black or white color.
Q4: Is there anymore extra promotion on the HTC Touch Diamond?
A4: Nope, this special trade-in program comes only with the full box set and there is no other free gifts. However, we offer 0% installment plan for most of the major banks. Please contact anyone of us for enquires.
Q5: When is this great deal over?
A5: This PDA Trade-in fair is valid until 28th February 2009 or while stocks last, which ever comes first.
Q6: Where is this roadshow/fair?
A6: This is an in-store promotion. We are located at Plaza Low Yat, Digital Mall@Section 14, IOI Mall@Puchong, Digital Mall@USJ19 and AEON@Bukit Martajam.
Q7: Can I trade-in 2 phones (each lesser value than RM600 in trade-in) and get the HTC Touch Diamond at RM1,599?
A7: No, we only accept one 2nd hand phone to one HTC Touch Diamond trade-in, whichever value is higher.
If you are more enquiries, please contact anyone of us.
Plaza Low Yat (Grd Floor, UG Floor and 2nd Floor)
Digital Mall, Section 14 PJ (Grd Floor)
IOI Mall, Puchong (2nd Floor)
Digital Mall, USJ 19 Subang Jaya (Grd Floor and 1st Floor)
Sunway Pyramid (1st Floor)
Or simply email us at sales@freshgear.com.my