06/15/02 AABR BUSINESS BULLETIN
(Vol. XXII, No. 46)
I. General
o Major agencies whose operations would be transferred to the new Dept. of
Homeland Security: Coast Guard (43,639 employees), Transportation Security
Administration (41,300), INS (39,459), Customs Service (21,743), Animal
& Plant Health Inspection Service (8,620), Secret Service (6,111), FEMA
(5,135), Federal Protective Service (1,408) for a total of 170,000
employees. Only VA and DOD have more employees.
o Is the media biased for Israel in its coverage of the Mideast crisis? Last
month, New York Times buckled under protest by AIPAC (America Israel
Public Affairs Committee) in its coverage of the Middle East. Other
newspapers, e.g. Los Angeles Times, Chicago Tribune, Minneapolis
Star Tribune, Philadelphia Enquirer, and Miami Herald have
received similar protests. AIPAC is the most powerful foreign-policy
lobby in Washington. Its 60,000 members shower members of Congress of both
parties millions of dollars. It has them in its pocket. Their recent
unqualified support for Israel in its military actions against Palestine (94
to 2 in the Senate, and 324 to 21 in the House), and their praise of Ariel
Sharon vs. disdain for Arafat shows these legislators are like piranhas
hungry for political contributions this election year. The low profile of
its involvement with Congress, the Administration, State, DOD, NSA, etc., is
deceiving and makes them almost invisible, but believe it--they control the
executive and legislative branches of Govt.
o Social Security benefits would be increased for about 120,000 widows and
divorced women under legislation passed unanimously by the House last month,
although millions more could use the help.
o Tacked into $4 billion additional money the Senate gave the Administration
against its request: $16 million for New England fisheries and an
unspecified amount to study puppy breeding violations, $5 million for a
farmer's market in RI, $2 million for the Smithsonian's worm collection,
among the many pork giveaway.
o Investors in some 401(k) retirement plans will be able to buy or sell
specific investments through the financial services company administering
their account, e.g., CitiStreet, a joint venture between Citigroup and State
Street Corp.
o Some states, e.g., CA, TX, VA, MD, LA & FL should brace for as much as
25% increase in homeowners insurance premium because of losses in the stock
market, storm damage and mold claims. Some homeowners may not find the
coverage they need.
o Long-term economic effects of 9/11 may be more costly: increase in
insurance-risk premiums, reduction in insurance coverage, higher
transportation costs, disruptions to international trade, diversion of
capital to defense and security spending away from more profitable
investments, according to Paris-based Organization of Economic Cooperation
& Development.
o Despite the lowest interest rates in nearly 3 decades, mortgages are
eating up a record amount of people's paychecks. Housing payments, as a
percentage of disposable personal income, are at their highest level since
the Federal Reserve began tracking the statistics--up 45% since 1980.
o A study by the Homeownership Alliance shows a vibrant housing market,
e.g., record house sales, strong construction activity and rapidly rising
home equity to finance spending, helped to offset weakness in other areas of
the economy.
o A study by USC's Lusk Center for Real Estate found that minority
applicants with marginal credit didn't fare better at minority-owned banks
than at white-owned banks. The study supports the notion that financial
factors, not cultural makeup, drive banking decisions.
o The EU plans to require companies listed in European Stock Exchange to
adopt International Accounting Standards within 5 years. The move will set
it apart from US which requires companies to report under Generally Accepted
Accounting Principles.
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o According to the National Mail Order Association, mail order sales
exceeded $1.7 trillion in 2000. This success is made possible by customers
who support the industry because of convenience, wide selection, no pushy
salespeople, and discounted prices.
o An American (Puerto Rican Jose Padilla) who converted to Islam and changed
his name to Abdullah Al-Mujadin (the "immigrant") was arrested
last May for his involvement in "dirty bomb," a radiological
dispersion device that could cause financial, social and health-related
problems.
o Alan Bond, a once prominent money manager and regular on TV's "Wall
Street Week with Louis Rukeyser," was convicted on charges of
allocating winning trades to his own brokerage account at Albriond Capital
Management, and saddling his clients with the losers.
o Although it may strike some as an impersonal medium, the Internet's
hottest business is all about love. Personal ads are bringing together
people from all over the world, and cultural differences are not as big a
barrier as some might think.
II. Private Sector
o The Administration will pay Boeing $1.37 billion to install and
maintain explosives detection machines at US airports, and Lockheed-Martin
$490 million to redesign airport security checkpoints to accommodate new
metal detectors, wider lanes and federal screeners.
o Enron employees won the right to try to get back up to $85 million
of the money pad as retention bonus to executives. Size of bonus and when it
was paid (before 9/11) were troubling to employees.
o A potential bidding war for aerospace and auto parts components with Northrop
Grumman is in the making as BAE Systems North America is lobbying
DOD officials for permission to acquire TRW.
Northrop is in talks with German submarine maker HDW, raising
concerns in Germany that US may use the relationship to sell subs to Taiwan.
o Merrill Lynch has a new rating system for stocks that will be
easier for investors to use: its research analysts will be paid according to
a new performance-based system.
o Visa & Mastercard could face damages of more than $39 billion
if the nation's top retailers prevail in an antitrust suit. The latter
alleged a decade of debit-card overcharges by the 2 companies. Also at issue
is whether or not Visa and MC can force retailers to accept
their debit-cards which carry far higher processing fees than those of
conventional ones.
o Is it surprising that many of our businesses are in trouble? Take the case
of Houston-based Dynegy which is paying its departing CEO $33 million more
in severance payment than he would have received had he served out his
contract. In the NY Stock Exchange, its 52-week high was $57.50; on May 31
its trading price was $8.75. What's understandable is why it is in trouble.
What is not is the $33 million payoff!
o Net Compliance sells service to small businesses by staffing
experts in various regulatory disciplines, especially environmental
regulation and provide a service that will eliminate the bewildering
paperwork. Last week it ceased operations.
o A frenzy for biotechnology shares in the public markets in 2000 created
the biggest year in history for biotech financing. The numbers plunged a
year later, falling 76% and endangering the dreams of many young, small
companies in the industry, according to an Ernst & Young study.
o Unolocal could face human rights violation, including forced
labor, that allegedly occurred during the construction of $1.2 billion gas
pipeline in Burma. It is being closely watched in business & legal
circles because of its implications for other multinational corporations.
o Earthlink has agreed to buy online retailer People PC for
about $10 million or $1.71 per share. It will provide Internet access to People
PC customers prepaid Internet connection when they purchased a People
PC computer. The value of providing that service is around $35 million.
o Sprint has expanded its high-speed Internet services to attract
business customers. The telecom said it has improved its business services
in its major markets, including faster speed and extra features. Sprint had
previously gone after the small business market, but the changes are
intended to attract large customers.
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o A Mass. technology conference is investigating ways to bring
broadband to the pockets of the region that still lack access, but an
address by a US rep. said the problem is not lack of access, but lack of
affordable, compelling services. The event attracted some of the industry's
movers and shakers.
o Motorola is reorganizing its Internet operations to better focus on
individual markets. The new divisions fell roughly along the following
market segments: broadband technology, business technology, and optical
networking.
o IBM has quietly trimmed its workforce by 318,000 in recent weeks as
its CEO tries to align costs with customers' reduced technology spending and
reverse the 34% drop in the firm's share price this year.
o Citrix Systems, targeting rivals, such as IBM and SAP, last
week introduced a new software system that gives users Web-style access to
all their business information, such as email, saying its software is easier
and cheaper.
o Cisco Systems has released the first storage router incorporating
both IP (Internet protocol) and fiber channel switching, which is expected
to hasten the adoption of system area network (SANs) in small and
medium-sized enterprises.
o Multinational mobile phone handset makers will soon face challenges from
emerging Chinese manufacturers eyeing expansion into the US market,
according to Wavecom, a French wireless standard developer.
o eBay's Fraud Automated Detection Engine is successfully monitoring
and reducing fraudulent activity on the online auction site. The software
collects information from defrauded customers and uses it to predict which
new sellers are likely to be shady.
o Hewlett-Packard is expected to report on the progress of job cuts
and the success of its merger with Compaq Computer in its first
financial forecast for the combined company since announcing the deal.
o Despite being valued at $37 billion 2 years ago Dutch Selem KPN Qwest is
being sold for little more than 3 cents on the dollar. Investors and
bondholders will be left with nothing to show for their investment,
virtually all of the company's 2,700 staff will be let go, and some 100,000
customers will have to scramble to find different phone and Internet service
providers.
o VeriSign Inc. is testing its new wiretapping services, called NetDiscovery,
which can be used by telecommunications providers to meet wiretapping
regulations. The service shall be available in July. According to a 1994
law, telecom providers must have the technology in place to allow law
enforcement officials with a warrant to intercept transmissions.
o The fight for control of the wireless home is shaping up for Round 2 after
the struggle over how high-speed Internet connections are shared among home
computers was won by Wi-Fi, a system backed by tech giants Cisco
Systems & Intel.
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o The IPO of Netflix, the online DVD rental dot-com, is one
indication that the IPO market is starting to revitalize. Along with fellow
tech IPOs, Orbitz & PayPal, Netflix could be part of a new
vanguard in tech IPOs.
o Philips Electronics, one of the world's largest suppliers of
liquid-crystal displays, expects prices of LCDs to increase sharply this
year as world demand for flat-panel monitors, notebook computers and LCD
televisions skyrockets.
o Sears is buying catalog and online retailer Land's End (one
of the biggest retailers on the Web) in an effort to boost its sagging
clothing sales. Sears will use the acquisition to move ahead of rival
J.C. Penny.
o Adelphia's board dismissed auditor Deloitte & Touche,
blaming it for not informing the cable company about questionable accounting
and self-dealing. It inflated cable TV subscribers by 500,000 and kept 2
sets of books...
o Xcel and Mirant traders discussed "games" to
profit from CA's chaotic electricity market during 2000 as they negotiated
energy transactions. Transcripts given to FERC provide evidence that
companies other than Enron considered similar strategies outlined by Enron
in recently released memos.
o Falling stock market is casting doubt on the strength and durability of
the economic recovery.
III. Federal Government
o The 8(a) Program, regardless of Adarand vs. Pena, stands on sound
footing. Congress articulated through P.L. 95-507 in 1978 that the purpose
of the 8(a) program was to develop competitive businesses owned by
disadvantaged individuals. There was a clear statement of findings and
purposes which provided the foundation of the program. Briefly, Congress
stated, "that social and economic inequalities based on ethnicity exist
in our society; that it is in the national interest to ameliorate such
condition; and that the development of small businesses owned by members of
specified disadvantaged groups can significantly contribute to redressing
observed inequities."
o According to OMB, increase in spending in 2002 since 2000 at DOD-18%,
DOT-24%, Ed-33%, health agencies-34%, law enforcement-22%, Veterans
Medical-19%.
o How did the Air Force lose track of parts which are used in the SR-71 spy
plane, the F-16 fighter, KC-10 aerial tankers and C-5 Galaxy giant cargo
jets which ended up for sale on eBay auction site?
o OSHA plans to develop voluntary guidelines (?) to prevent ergonomic
injuries to workers in the grocery-store and poultry industries.
o Read an investigative report on the "Secrets of the Secret
Service," US News & World Report (June 17, 2000) issue.
Allegations of racism, drug abuse, embezzlement, adultery, lack of respect
for the law, among others.
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o DOL has begun posting in its Web site internal financial documents from
hundreds of labor unions around the country, including information on their
net assets, officials' salaries and how much they spend on office expenses
and professional fees. Some labor unions are not happy about it.
o DOC is expected to rule on about 600 exemptions requested by foreign steel
producers and trading companies, and hundreds of additional requests
(another 800) are coming in. Steelmakers and unions want the Administration
to turn down 40% of the initial 600.
o Russia was designated a market economy by DOC bringing it toward eventual
accession to the WTO and gives it a leg up in trade disputes.
o Treasury called for legislation to reduce tax benefits of companies that
incorporate in tax havens, such as the Bahamas. The principal change would
prevent a company from transferring untaxed US income to an offshore parent
in a technique known as "earnings stripping."
o SEC wants public companies to tell investors more quickly about
significant corporate events and require top officers to certify certain
financial report under new rules.
o A record 483 securities lawsuits were filed last year, more than twice the
number of such suits fled during 2000, according to PriceWaterhouseCoopers,
LLP. The majority (308) concern allocation of shares in IPOs, while the
remaining 175 stem from alleged accounting abuses.
o Microsoft agreed to settle SEC civil allegations that it
misstated its earnings during certain periods in the 1990s by illegally
maintaining different "reserve" account for such expenses as
marketing and obsolete inventory.
o An unanimous Supreme Court strongly backed SEC's authority to
penalize brokers (SEC vs. Zandofrd) who sell a client's stock for private
gain.
o SEC and NASD (National Association of Securities Dealers)
are investigating Knight Trading Group, Inc., following allegations
from a former senior executive that it engaged in improper trading during
the tech market's boom, according to people familiar with the matter.
o SEC told Amazon.com to stop helping other companies make
their financial results look good after advising one-time partner Ashford.com
to defer $1.5 million of its expenses relating to its agreement with
Amazon. The cease-and-desist order was a slap on the wrist for Amazon.com
but Ashford.com executives had to pay $85,000 in fines.
o DOD is planning to give to give European contractors billions of dollars
of missile-defense work. The aim is to blunt criticism of US missile-shield
plans by giving Europeans a share.
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o FERC threatened to revoke the right of Allstate, El Paso Electric,
Portland General Electric and Williams to sell power at
market-based rates. It accused the electricity traders of stonewalling an
investigation of possible market manipulation in CA.
o From a recent statement of FEC commissioners, the law's 4 major sponsors
(McCain, Feingold, Shays & Meehan) are concerned that FEC might approve
regulations with loopholes that politicians, party officials and others can
use to evade the law's "soft money" restrictions.
o Samuel Waksal, former CEO of Imclone Systems Inc., is the 2nd CEO
(1st was Dennis Kozlowski of Tyco Intl.) to face conspiracy and fraud
charges for lying to SEC. FDA rejected its application for Erbitrux, the
cancer drug in which the firm pegged its future.
o Martha Stewart's stock sale was made the day before Implone Systems Inc.
learned that FDA would not accept its application for a promising
cancer drug, driving its share price down, according to the Washington
Post.
o Lawmakers challenged Pres. Bush last week on several environmental fronts
in a bipartisan show of concern over his approach to logging, nuclear waste
disposal and the cleanup of Superfund toxic waste sites.
o Of the 30 chemical compounds studied by EPA scientists, only two--DDVP,
used in pest strips, and Dimethoate, used to treat fruits & vegetables,
have raised concerns, according to EPA officials.
o A major study by the Health Effects Institute of Boston, used by EPA to
set Clean Air Act standards for industries and cities, contains a software
error that may have overstated the health dangers of small particles of soot
and other pollutants.
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o EPA is prepared to sue companies that don't bring their plants to
compliance. The concern is a family of chemicals, including carbon monoxide
and certain volatile organic compounds in recent tests of 5 ethanol plants
in the Midwest.
o The Administration acknowledged for the first time that global warming
caused by human activities will cause significant environmental changes
within decades. But EPA report to the UN reiterates opposition by
Pres. Bush to the Kyoto Protocol capping greenhouse gas emissions.
o GAO joined the long line of critics of the Army Corps of Engineers,
concluding that the agency botched its economic analysis of a Delaware River
Project so badly that the "adequacy & effectiveness" of its
quality control is in doubt.
o A 217-page report by GAO charges aides of former Pres.
Clinton of vandalism, causing $20,000 in danger, e.g., 62 computer
keyboards, 26 cellular phones, 15 TV remote controls, etc., but concluded t
may have been typical of recent outgoing administrations.
o The Federal Reserve announced it was terminating its action against Bank
of New York because the bank had complied with the agreement to correct
alleged deficiencies in preventing money laundering.
o Federal Reserve reported consumer credit rose by a reasonably
adjusted $8.9 billion, or at a 6.3% annual rate. Demand for revolving credit
rose $4.1 billion, or 7% annual rate in April.
o The Supreme Court refused to let credit-reporting companies sell lists of
consumers to lenders seeking to target the most desirable customers, turning
aside a challenge to an FTC order. The financial credit law bars use of
"consumer reports" for target marketing purposes.
o The first wave of new hires at USDA will be assigned to the Farm
Service Agency offices in areas with the smallest staffs and the biggest
workloads. Like many parts of the Govt., the FSA had cut staff over
the last 6 years.
o FAA can limit airline pilots to 16-hour workdays even in the event of
unexpected delays, according to a federal appeals court. It means airlines
can't make pilots take off when bad weather, mechanical problems or other
common disruptions threaten to put pilots beyond 16-hour maximum-work period
set by law.
o DOE plans to resume manufacturing plutonium triggers for nuclear warheads.
Production is to start in 2020 at a new plant that will cost as much as $4.4
billion. A site has yet to be selected.
o IRS is fighting with GlaxoSimthKline over taxes for US sales of its
top-selling drugs from 1989 to 1998 which amounted to $29.48 billion. The
drugs in question were: Zantrac, Imitrex, Zofran, Ventolin and Serovent.
This is a vivid illustration of how difficult it has become to enforce US
tax laws in an era of global business and most valuable assets are
frequently intangible.
o To fight America's enemies, the US Govt. needs good intelligence. The
current war on terrorism is a losing proposition in which the CIA's
ineptitude, incompetence, gullibility, prejudice, corruption and
self-serving nature made it a detriment to national security, starting with
George Tenet who burrowed into the top spot by renaming the place the George
Bush Center for Intelligence, according to Angelo Cadovilla, Professor of
Intl. Relations at Boston U. and former staffer at the Senate Select
Committee on Intelligence.
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IV. International
o Gold leapt to a three and a half years high in Asia last week as fallout
on Wall Street extended the scramble for the asset traditionally seen as a
heaven amid global uncertainty
o IT vendors are turning their attention to Asia as governments in the
region push biotechnology as a solution to major public health issues, and
as an industry in which they can establish themselves as research pioneers,
according to IBM.
o China should become a global aviation powerhouse in the next decade if it
continues to implement much-needed market reforms.
o China's No. 1 personal computer maker Legend Group is
optimistic about sales of its new line of products launched in Hongkong,
despite failing to meet sales targets last year.
o Foreign firms will be locked in intense negotiations, with their Chinese
partners as they prepare to set up joint venture securities and fund
management companies.
o Mainland banks are banned from copying the international practice of
charging penalty fees on small deposits as it is against the law, according
to the central bank.
o The central bank issued last week new guidelines to improve corporate
governance at joint equity commercial banks.
o Police in Shanghai, leading a nationwide crackdown on Internet bars &
Web surfers who try to circumvent strict Govt. rules, have shut down more
than 200 cyber-cafe's in the past few weeks.
o China Petroleum & Chemical (Sinopec) has struck $263 million
deal with British oil giant BP to set up 500 retail gasoline stations on the
mainland.
o Almost 75% of PRC's private enterprises consider Hongkong a better
bridge to break int overseas markets than rival cities, according to a poll
by the HK Trade Development Council (TDC).
o American Intl. Group (AIG), the largest insurance company in Asia,
is planning to set up a headquarters office in Shanghai to manage its
growing mainland business, according to its senior vice-chairman.
o The giant mainland tobacco industry, which produces nearly one-third of
the world's cigarettes, faces a major restructuring as a result of WTO
accession.
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o Shenzhen Metro has awarded 10.5 billion yuan (about HK$9.84
billion) contract to Beijing Hollysys and the world's largest
independent automotive company, Rockwell Automation, to install a
state-of-the-art environmental central and monitoring system in the first
phase of Shenzhen subway line.
o Fund managers expect this year to see strong growth in the mainland's
services-oriented and infrastructure-related industries driven by a surge in
both exports & consumer spending power.
o Paris-based Alcatel has plans to use its integrated manufacturing
operations in Shanghai to transform the company into the mainland's top
communication gear maker.
o Internet management solutions provider Websense is marketing
software in Hongkong that help companies block employees from personal Web
surfing.
o Hongkong-based LG Philips Displays, powered by high demand
from mainland manufacturers, is to expand the market for its cathode ray
tube (CRT) monitors in the Asia-Pacific region and push back the challenge
for liquid crystal display (LCD) screens.
o Small and medium-sized enterprises (SMEs) in Hongkong are more
willing to spend on information communication technology (TCI) in the next
12 months than large businesses, a survey by research company Taylor
Nelson Sofres has found.
o HK's wireless communications data services will expand over the
next 5 years, despite market consolidation and limited growth in
subscribers.
o On Semiconductor has opened its 8th global chip design center and
Asia-Pacific headquarters at the HK Science Park, boosting HK's as a
regional IT hub.
o Most people and organizations favor a Singapore code of conduct for online
merchants aimed at protecting the privacy of those making purchases on the
Internet.
o Banking & telecom system's integrator Technology Venture
Holdings will pay HK$28 million for a further 10% stake in subsidiary
DMV Technologies, which is expected to spun off on the Singapore Stock
Exchange this year.
o Leading Taiwan cable TV operator and broadcaster Eastern Multimedia
Group hopes to tie up with mainland-backed Phoenix Satellite
Television to target global Chinese TV audiences, despite Govt.
regulations.
o Organizers staged last week the largest Computex Taipei Computer
show in the event's 22-year history, despite the continuing worldwide
personal computer slump.
o It was a very low-key, almost shy, VIA Technologies that faced the
media on the opening day of Computex. A new C3 processor and a
handful of multimedia chips were the best the Taiwan chip-design
house could manage.
o A floor show at Computex this year would have you believing the
information appliance (IA) is dead; once the fancy of system makers and
marketing trans, the product line appears to have beaten a hasty retreat.
o Taiwan Govt. policies banning the import of mobile phone handsets
from the mainland have prevented Nokia from selling some of its new
products on the island.
o Japan's Hitachi will take over the hard disk drive (HDD) business
of US computer giant IBM for $2.05 billion, the companies say.
o Japan's economy has finally reached the bottom of its current
recession and is poised for the modest recovery in the 2nd half of this
year, the Govt. said in a monthly economic report.
o The Japanese Govt. has notified the WTO it will impose tariffs on American
steel this month, joining the EU in reacting to the Bush Administration's
measures to protect US producers.
o Honda is negotiating with the Gwangzhou municipal Govt. in the
construction of a car plant with initial production capacity of 300,000
units.
o Japan's effective corporate tax rate may be cut to about 35% from
40.87% under a major tax reform plan, according to a senior govt. official.
o Forget Moody's Investor Service. Japan has hired the
voluptuous "talent" Nanika Fujiwara to sell its battered Govt.
bonds.
o Japan is stepping up pressure on China to appreciate its currency
as trade tensions between the 2 countries intensify.
o Hitachi, Japan's biggest electronic maker, said last week that it
would pay $2.05 billion for most of IBM's hard disk drive assets and moved a
quick return to profit in the business, dismissing market skepticism of the
deal.
o First Pacific has reached an agreement to sell control of its
Philippine property and telecom assets to one of the Philippine's most
prominent business families in a deal valued at $925 million.
o Resources in the 5 months of the year in RP fell below target by 16.1% on
30.7 billion pesos (about HK$4.76 billion), an indication the Govt. may have
overshot its budget deficit goal in the period, Govt. data showed last week.
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o The World Bank announced plans to extend up to $1.7 billion in fresh loans
to RP in the next 3 years as part of a country assistance strategy to boost
economic growth and sustain poverty reductions.
o South Korea's Information & Communication Ministry said last
week it had reached an agreement with North Korea to jointly pursue
mobile and international phone service projects in the Communist north.
o Thousands of farmers swarmed through the streets around the National
Assembly in Seoul demanding the Govt. pull out an agreement with WTO under
which it will cut subsidies for homegrown rice and reduce quotas on imports.
o Micron Technology is still interested in buying Hynix
Semiconductor despite previously unsuccessful takeover talks with the
troubled South Korean chip maker.
o Malaysia is stealing timber from Indonesia, stamp them as Malaysia's
and sells the alleged stolen logs to Europeans. Some of these logs are over
100 years old. If this continues, Indonesia's rain forests will be
gone in 10 years.
o Efforts by Perusahan Otomobil Nasional (Proton) to build its own
engine have run into delays that may thwart the top Malaysian car
maker's aim of launching the key component by the end of the year.
o P.M. Mahathir Mohamad has painted a rosy picture of his nation's economy
with the recovery of its top trading partner, the US.
o A boardroom battle is looming at mobile-phone firm Technology Resources
Industries (TRI) as Telekom Malaysia, poised to make a personal
offer, fights to put its own stuff on the TRI board to scan the firm's
books.
o Telecom firm Maxis Communications last week launched Malaysia's biggest
initial public offering (IPO), forecasting a 37% jump in profits this year
but acknowledging a rising threat from rivals.
o A 13-year old militant insurgency and the ongoing border tensions between
India and Pakistan have battered Kashmir's economy to the extent that many
businesses are bankrupt.
o Vietnam's TMA Solutions has beaten competitors in India to land a
high-end outsourcing contract from a US technology company.
o Economists & politicians last week lashed out at Bangladesh's
2002-2003 budget, calling it tax-heavy, aimed at benefiting the rich and
likely to pressure the poor.
V. Miscellaneous
o Our thanks to the July 5 HUBZone conference presenters--James House
& Mike Green, USDA; Cordell Smith, Senate SB Committee;
Kevin Boshears, Treasury; Sharpleigh Disko, State; Robert
Faithful, IV, DOI; Michael McHale, SBA; and Pete Homer,
NIBA.
o A manual on a recently concluded event, "National Training Conference
on HUZones" (110 pages) [on June 5 at USDA] is available from AABR. To
order a copy, check www.aabronline.org/hubzonetrainingmanual.htm.
o Mark your calendar for a July 24th conference, "The
Administration's Support for Small Business: Important Changes in Federal
Contracting," joint effort between the Office of Enterprise
Development, GSA and AABR. Details in AABR Web site before the end of the
month.
o In FY'2001, the Federal Govt.'s small business GSA Schedule prime contract
awards in Group D (ADP services), Group R (professional & managerial
services), and Group 70 (ADP software & equipment manufacturing)
represented what share of all small business GSA Sch. prime contract
dollars? a) 23% b) 39% c) 55%; d) 75%.
If you are a small high tech business with a GSA Schedule
contract, in which market should you position your firm to realize the
highest potential return for your schedule marketing efforts?
To know more about this service and access its website, contact
Paul Murphy of Eagle Eye Inc. at--pmurphy@eagleeyeinc.com.
