90 seconds at 9 am with BNZ: Strauss-Kahn cleared; Brent oil price down on Libyan supply hope; Gold near US$1,900/oz; Former AXA CEO to be ACC CEO

Strauss-Kahn i still a dirty lecherous old sod.

So the Brent price drops but realistically substantial production is many months off....This comment on the drop makes so much sense.....not....Its a guess really, it could be that the markets are continuing to price in a recession/depression and that means the demand for oil will be lower...

regards

Who needs such filthy bastards running the cutter?

Perhaps not so easy in Libya.

http://app.response.stratfor.com/e/es.aspx?s=1483&e=341902&elq=0d0d3cba903b4773a6c3a91f8b5662a6

To Bernard Hickey , here is something that needs to be investigated . Why is South Canterbury's Performing Loans Book being sold off at what looks like about 65Cents in the Dollar ?

Any self respecting Banker will tell you that a performing loan is worth parity at best and about 95 % at worst .

An alternative would have been to underwrite the loan book on sale at parity , and deal with any future non performing loans as they arose .

I would like to see the due diligence done by the recievers on the book being made public , and subjected to public scutiny 

At these deep discounts , the Crown finances (NZ taxpayer)  gets shafted yet again.

gold now at $1908.05 at 1036am - big correction to come....?

GE buys Christchurch-based Commtest.

"GE (NYSE: GE) announced the acquisition of Commtest, a provider and designer of machinery health information systems. GE Energy’s Bently Nevada product line, a global leader in condition monitoring, will incorporate Commtest products into its portfolio and enhance an already robust lineup. Bently Nevada provides machinery protection and condition monitoring for refineries, petrochemical plants, power plants and wind farms. With more than 50 years of experience, Bently Nevada has built a reputation for improving the reliability and performance of critical production assets like turbines, compressors, motors and generators.



As a major component of predictive maintenance, condition monitoring is essential to increase asset longevity. Through condition monitoring, plant managers constantly receive data that provides input about the health of their machinery. For example, by knowing the vibration behavior and temperature of certain assets, managers can make strategic decisions about preventative maintenance to avoid asset fatigue, breakdown and failure. This is especially critical in the oil and gas and power industries where failed assets potentially cost hundreds of thousands of dollars a day in lost production revenue and increased operating and maintenance costs.



“The acquisition of Commtest allows us to significantly upgrade our portable vibration data collection and analysis capabilities,” explained Art Eunson, general manager for GE’s Bently Nevada product line. “Bently has an extensive portfolio of continuous monitoring solutions, sensors and transducers, software and supporting diagnostic instillation services, but the Commtest acquisition will help us bring our customers a more integrated offering that takes into account the health of the entire plant.”



Commtest is based in Christchurch, New Zealand, and primarily focuses on producing vibration analysis and monitoring equipment. Vibration analysis detects early signs of impending machine failure so managers can proactively direct repairs and make replacements before they encounter expensive failures. The vbSeries are an improvement over traditional, portable walk-around routines. They offer ease-of-use, cost-effectiveness and up-to-the-minute data collection. The acquisition of Commtest—the latest example of how GE provides end-to-end offerings—provides GE customers the benefits of highly reliable and accurate machinery condition monitoring for the total plant.



“With any acquisition, we look for companies and products that have a natural fit and will enhance the solutions we are currently offering,” Eunson noted. “The vibration and monitoring equipment provided by Commtest elevates the Bently offering.”

Granny Herald hilarious once again:

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10746838

"Soaring house values"

Classic.

Anybody would think they got a big chunk of their revenue from real estate advertising. 

YOU might say that, but i couldnt possible suggest such a thing

Of course the rest of the article tells a much grimmer picture of values v rates, but the headline writers don't care about such piffling details

Some time in the last four months, 144 tons of gold in ingots and coin, was stashed somewhere in Libya by members of the big shite's family, on his orders....all of whom have been wasted by the rebels...so where did they stash the gold!