ROCHESTER, N.Y. --(BUSINESS WIRE)-- Lucid, Inc., a leader in FDA-approved noninvasive cellular imaging, today announced that Ruben J. King-Shaw, Jr. was appointed to the Company's Board of Directors on December 14, 2010. Mr. King-Shaw brings to Lucid a wealth of experience in medical reimbursement and healthcare services
He currently serves on Medicare's Program Advisory and Oversight Commission, which advises the Obama administration on effective value-based procurement strategies for healthcare reform. He also is Chief Executive Officer of Mansa Equity Partners, Inc., a private equity and investment advisory firm specializing in supporting the growth of healthcare companies.
"My background allows me to identify companies with innovative technologies that can redefine the standard of care and ensure savings to the U.S. healthcare system. Lucid's VivaScope and VivaNet products have the potential to do both," said Mr. King-Shaw. "Lucid's VivaScopes provide a noninvasive, painless and accurate way to reduce the cost of early skin cancer detection by allowing clinicians to distinguish benign from malignant lesions at the point and time of care. In the United States alone, about $2.2 billion is spent each year biopsying and diagnosing suspicious skin lesions that are determined to be benign."
Mr. King-Shaw has extensive experience in healthcare policy, economics and finance. He served as Chief Operating Officer and Deputy Administrator of the Centers for Medicare and Medicaid Services from 2001 through 2003, and prior to that was Secretary of the Florida Agency for Health Care Administration. In 2002 President Bush named King-Shaw to the President's New Freedom Commission on Mental Health, and in 2005 New York Governor George Pataki appointed King-Shaw to the Commission on Health Care Facilities in the 21st Century.
"Ruben brings with him extensive experience in Federal reimbursement policies and procedures that is directly relevant to Lucid," said William Shea, Chairman of the Board of Directors at Lucid. "Specifically, since reimbursement is a key factor in driving adoption of a new medical technology, Ruben's experience and Washington, DC relationships will be important assets to Lucid as the Company moves forward in rolling out its VivaScopes and the VivaNet System."
"Ruben is a results-oriented executive who knows what drives adoption of new medical technology by participants in the U.S. healthcare system," said Jay Eastman, Chief Executive Officer of Lucid. "Lucid, which is established as a leader in accurate, noninvasive assessment and diagnosis of skin cancer, will benefit from Ruben's knowledge as our team moves rapidly to drive adoption of our VivaNet platform. We are delighted that he has recognized Lucid's commercial potential and agreed to join our Board of Directors."
Mr. King-Shaw serves as a member of the Board of Directors of APS Healthcare, the specialty care management company backed by the private equity firm GTCR. In addition, Ruben is a member of the Executive Committee of the Board of Steward Health LLC, the healthcare system acquisition and operating company launched by Cerberus Capital last year. He also is the Lead Director of athenahealth, Inc. (NASDQ: ATHN.)
About Lucid, Inc.
Lucid, Inc. is a leader in noninvasive skin cancer imaging and diagnosis. Its FDA cleared VivaScope® confocal imagers and its innovative VivaNet® telepathology system enable secure, HIPAA compliant, consultations between dermatologists and pathologists at the point and time of care. Lucid's VivaScopes® provide images physicians use to make critical medical assessments of suspected melanomas and non-melanoma skin cancers thus ensuring patient comfort and piece of mind. You can learn more about the Company and its leading edge medical imaging products at www.lucid-tech.com.
Showing posts with label shaw capital group. Show all posts
Showing posts with label shaw capital group. Show all posts
Saturday, February 5, 2011
Shaw Capital Management and Financing Benefits from Factoring Financing
How Distribution Companies can benefit from Factoring Financing
Product distribution companies can be very capital intensive businesses. Read this article to learn how to get working capital for your distribution company and avoid scam.
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cash flow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Product distribution companies can be very capital intensive businesses. Read this article to learn how to get working capital for your distribution company and avoid scam.
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cash flow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, and asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.
Based in Baltimore, Maryland. Importing into the tri-state area mostly from the far east such as China, Thailand, Taiwan and South Korea.
For product distributors, cash flow is always a big concern. Unless you have been in business for a long time, most suppliers will insist that you pay them soon after delivering the goods. Or worse, prior to delivery. However, most of your clients will insist in paying your invoices on net 30 or net 60 days. This creates a simple problem – you have to pay suppliers quickly, but clients pay slowly. Although your business may be profitable, unless you have adequate working capital, you will have cash flow problems.
When faced with a cash flow problem, most business owners try to get a business loan. Although business loans can work well in many situations, they can be inflexible especially if your business has growing capital needs. Also, qualifying for a business loan can be difficult since institutions usually require substantial collateral and track records showing profitable operations for many years. This makes them a tough option for new or small businesses.
But there are better solutions though. Let’s examine the situation. The problem is the time delay between having to pay your supplier and getting paid by your client. What would happen if you could reduce the time delay? For example, let’s say that your client paid you in two business days rather than two months. Would that solve your cash flow problem? For most, it would.
You can achieve just that by using factoring.
The value proposition of invoice factoring is simple. It reduces the time delay between delivering goods and getting paid. This puts your business in a better cash position and enables you to take on new opportunities.
Factoring involves selling your invoices to a factoring company. The factoring company buys your invoices in two installments. In the first installment, you get 80% of the invoice advanced to you. You get the remaining 20% (less a fee) as a second installment, once your client actually pays for the goods.
One of the advantages of factoring accounts receivable is that is a very flexible solution, where the maximum amount you can finance is mostly determined by the ability of your clients to pay your invoices. Said differently, your factoring financing line is tied to your sales and grows with your sales. Because of this, small companies that do business with large credit worthy clients can benefit from using factoring. By Marco Terry
Shaw Management Tips on Identity Theft -- A Warning
Fraud committed by a criminal who has stolen someone else's identity is identity fraud usually used online and some boiler room management scams. By stealing documents such as your passport, driving license or bank statements - or online ID, such as usernames, passwords and personal security questions - thieves can now take cash from your accounts, commit benefit fraud, or take out new credit cards or loans, all in your name. Online frauds that sucker victims into revealing crucial private data, known as 'phishing' scams, are becoming more common. But for most people, the greater danger still lies in more old-fashioned methods: burglars who steal documents and chequebooks; fraudsters who intercept your post; and even thieves who dredge through bin bags. Shaw Capital will give you tips and warning on how big is the problem nowadays on online scams and fraud. In the UK, more than 70,000 people were victims last year, according to figures from the Credit Industry Fraud Avoidance Service (CIFAS). Given the large number of cases, the sums involved are hardly huge - the Association for Payment Clearing Services puts the total taken by identity fraudsters last year at £37m, but this is a 66 percent jump on the previous year. However, they calculate the overall cost to the economy - including the time and money spent by banks in combatting the crime - is a massive £1.3bn. Caution is the key. Shaw Capital and its management always emphasize to read bank and credit-card statements carefully and check against receipts. If you have any worries, tell the bank concerned straightaway; scammers often test the water with a small transaction first before attempting a larger theft. Check your credit report often for any credit requests not made by you. Shred statements, bills and even direct mail; these all contain vital personal information. Register with the Mailing Preference Service (0845-703 4599, www.mpsonline.org.uk) to stop junk mail and get mail redirected when you move home. Leave all unnecessary credit cards and ID at home when you go out, but do not leave key documents together in one place easily accessible to a burglar. Use different PINs and passwords for different accounts, and never disclose your full PIN or password in an e-mail or over the phone, even if you think you are talking to a bank employee. Report the suspected crime to the police and ask for a crime reference number, which you will need to recover any losses. Also, spend £11.75 on the protective registration service offered by fraud prevention service CIFAS (0870-010 2091, www.cifas.org.uk). They will place a notice on your credit file warning banks and lenders that there's an increased risk of identity fraud. Companies will then seek extra verification from anyone applying for credit in your name. Impersonation of the dead is the fastest-growing type of identity theft, so take this into account when dealing with a relative's death and estate: immediately notify the relevant Government departments, such as the Department of Work and Pensions and the Inland Revenue, and return important documents by registered delivery.
The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world
The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world
Friday, February 4, 2011
shaw capital management warning tips
Shaw Capital tips and Warning on Boiler Rooms and How to Spot a “Boiler Room” Scam and fraud:
High-pressure sales tactics. Salesmen and the management may make repeated calls and even become abusive, questioning, for example, the intelligence of anyone who would pass up such a “sure thing.”
Outrageous promises of extraordinarily high profit at little or no risk. The management rule is: The higher the return, the higher the risk. Listen for salesmen who claim it is possible to make extremely high (15, 20 or 30 percent) or even “guaranteed” profits without any risk of loss. Most legitimate firms will provide written materials clearly disclosing the potential for loss in an investment, as well as its short- and long-term tax implications.
Shaw Capital Management March Newsletter: Japanese Government Submits Budget for Next Fiscal Year
The Democratic Party of Japan (DPJ) government submitted to the Diet the fiscal 2010 budget amounting to ¥92.3 trillion, its first budget since its inauguration in mid-September. The budget was even larger than its counterpart for the current fiscal year — which was already a record if one includes the second supplementary stimulus package, approved last December. This was because of additional spending on child allowances, free senior high school education, cash subsidies to farmers, and higher payments to medical institutions to alleviate the shortage of medical doctors. Particularly noteworthy is the large amount devoted to social security, up to ¥27.3 trillion, which account for 51% of general public spending … the first time that the social security share has exceeded 50%. In marked contrast, public works investment, which has been cut back by almost 20%, amounts to ¥5.8 trillion, a record drop that symbolizes the DPJ’s philosophy of shifting money to people from public works… eightynine dam projects are likely to be frozen.
At a news conference, Prime Minister Yukio Hatoyama described it as “a budget meant to safeguard the life of the people.” He also claimed that three reforms were incorporated in the architecture of the budget: first, the principle of a shift of priority “from concrete to people”; second, initiatives taken by politicians instead of bureaucrats; and third, securing transparency in the budget formulation process. Some creditable aspects notwithstanding, the budget bill appears to be overshadowed, as media reports made clear, by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent as recently pointed out by credit rating agency Standard & Poor’s which raised the prospect of a downgrade in Japan’s sovereign debt rating. “The budget bill appears to be overshadowed by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent.” “Japan’s economic policy flexibility has diminished as a result of increased fiscal deficits and government debt, persistent deflation and a prospect of continued sluggish economic growth”, analysts at the firm said in a note.
“It’s impossible to keep tolerating this massive spending,” said Takeshi Minami , chief economist at Norinchukin Research Institute in Tokyo. “Japan’s fiscal health will continue to be exceedingly severe given revenue won’t grow and a stagnant recovery may require additional economic measures.” A major reason for the squeeze is a plunge in prospective tax revenues due to the economic downturn and the drop in corporate profits. Tax revenues for fiscal 2010 are estimated to fall to ¥37.4 trillion, the same level as 26 years ago, in the mid-1980s — while corporate tax revenues are expected to be half the amount in normal years. As a result, the government has to raise ¥44.3 billion in new government bonds, compared to ¥53.5 trillion in FY2009. This leaves the treasury dependent on debt for 48% of the total budget, up 10 percentage points.
At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP. “At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP.”
According to the new government, the economic policies adopted by the previous ruling party, the Liberal Democratic Party (LDP), failed on two fronts: initially boosting demand by increasing public investment, which was effective in the short term but not sustainable until the end of the 1990s. And later enhancing the supply side of the economy by deregulating the labour market and privatizing public entities, which simply widened the income gap within the economy, in the 2000s. However, the new budget was not well received by most observers. The announcement was rather sudden and lacked a comprehensive path to achieve the stated goals, they claim. Also, no reliable, specific incentives were offered, such as tax changes or deregulation that affect private sector behaviour. More importantly, given its enormous debt, the government has limited room to offer any incentives without jeopardizing other parts of the economy. However, there was no mention of these painful trade-offs. In addition, while the budget contains some signs of change, there is concern that it may not adequately stimulate the economy. Most private sector economists believe that spending measures in the fiscal 2010 budget (and in the second fiscal 2009 supplementary budget) are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April. “Most private sector economists believe that spending measures in the fiscal 2010 budget are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April.”
Overall, the budget appears to be the result of a compromise between an attempt to impose some fiscal discipline and the promises made in last year’s summer election of new direct supports to households, such as child allowance, as well as concern over a double-dip recession. “Harsh financial conditions have prevented the administration from keeping all the promises that the DPJ made during its campaign last summer (for instance it has eliminated highway tolls and the gasoline tax). But the administration has succeeded, to some extent, in realizing the party’s slogan of “shifting weight to people from concrete” and its aim of providing more funds for households, rather than for industry-linked organizations and large-scale public works projects”, asserted in its editorial the Japan Times, one of the main national newspapers. “Almost every move the government makes over the coming months must be seen against the backdrop of the crucial upper house election, which must be held in July for half of the seats.”
The budget must now be approved by Japan’s parliament before takingeffect. Hatoyama’s popularity has dropped to 48% this month from 71% after he took the office in September. Almost every move the government makes over the coming months must be seen against the backdrop of the crucial upper house election, which must be held in July for half of the seats. So in the end the budget and its goals may be more dream than reality.
At a news conference, Prime Minister Yukio Hatoyama described it as “a budget meant to safeguard the life of the people.” He also claimed that three reforms were incorporated in the architecture of the budget: first, the principle of a shift of priority “from concrete to people”; second, initiatives taken by politicians instead of bureaucrats; and third, securing transparency in the budget formulation process. Some creditable aspects notwithstanding, the budget bill appears to be overshadowed, as media reports made clear, by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent as recently pointed out by credit rating agency Standard & Poor’s which raised the prospect of a downgrade in Japan’s sovereign debt rating. “The budget bill appears to be overshadowed by concern over a severe revenue shortage and its implications for the future of Japan’s public finances, which are already debt-laden to a perilous extent.” “Japan’s economic policy flexibility has diminished as a result of increased fiscal deficits and government debt, persistent deflation and a prospect of continued sluggish economic growth”, analysts at the firm said in a note.
“It’s impossible to keep tolerating this massive spending,” said Takeshi Minami , chief economist at Norinchukin Research Institute in Tokyo. “Japan’s fiscal health will continue to be exceedingly severe given revenue won’t grow and a stagnant recovery may require additional economic measures.” A major reason for the squeeze is a plunge in prospective tax revenues due to the economic downturn and the drop in corporate profits. Tax revenues for fiscal 2010 are estimated to fall to ¥37.4 trillion, the same level as 26 years ago, in the mid-1980s — while corporate tax revenues are expected to be half the amount in normal years. As a result, the government has to raise ¥44.3 billion in new government bonds, compared to ¥53.5 trillion in FY2009. This leaves the treasury dependent on debt for 48% of the total budget, up 10 percentage points.
At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP. “At the end of the fiscal year, on March 31, 2011, the outstanding balance of government bond issues will have shot up to ¥637 trillion, the equivalent of 134% of Japan’s GDP while public debt will probably spiral to ¥973 trillion, almost double GDP.”
According to the new government, the economic policies adopted by the previous ruling party, the Liberal Democratic Party (LDP), failed on two fronts: initially boosting demand by increasing public investment, which was effective in the short term but not sustainable until the end of the 1990s. And later enhancing the supply side of the economy by deregulating the labour market and privatizing public entities, which simply widened the income gap within the economy, in the 2000s. However, the new budget was not well received by most observers. The announcement was rather sudden and lacked a comprehensive path to achieve the stated goals, they claim. Also, no reliable, specific incentives were offered, such as tax changes or deregulation that affect private sector behaviour. More importantly, given its enormous debt, the government has limited room to offer any incentives without jeopardizing other parts of the economy. However, there was no mention of these painful trade-offs. In addition, while the budget contains some signs of change, there is concern that it may not adequately stimulate the economy. Most private sector economists believe that spending measures in the fiscal 2010 budget (and in the second fiscal 2009 supplementary budget) are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April. “Most private sector economists believe that spending measures in the fiscal 2010 budget are expected to provide a limited boost to Japan’s GDP and to kick in no sooner than April.”
Overall, the budget appears to be the result of a compromise between an attempt to impose some fiscal discipline and the promises made in last year’s summer election of new direct supports to households, such as child allowance, as well as concern over a double-dip recession. “Harsh financial conditions have prevented the administration from keeping all the promises that the DPJ made during its campaign last summer (for instance it has eliminated highway tolls and the gasoline tax). But the administration has succeeded, to some extent, in realizing the party’s slogan of “shifting weight to people from concrete” and its aim of providing more funds for households, rather than for industry-linked organizations and large-scale public works projects”, asserted in its editorial the Japan Times, one of the main national newspapers. “Almost every move the government makes over the coming months must be seen against the backdrop of the crucial upper house election, which must be held in July for half of the seats.”
The budget must now be approved by Japan’s parliament before takingeffect. Hatoyama’s popularity has dropped to 48% this month from 71% after he took the office in September. Almost every move the government makes over the coming months must be seen against the backdrop of the crucial upper house election, which must be held in July for half of the seats. So in the end the budget and its goals may be more dream than reality.
Shaw Capital Management: Brazil’s Economy
Brazil’s economy emerged from a deep but short recession in the second half of last year. The economy is expected to grow by at least 5.5% this year. But along with economic growth, expectations of higher inflation have also returned.
Shaw Capital Management Korea: Brazil’s Economy - The government’s target for annual consumer price inflation is 4.5%. To contain inflation Brazil’s central bank has raised banking reserve requirements on term deposits from 13% to 15%. In addition to the increase in reserve requirements, the bank also restored additional charges on cash and term deposits to 8% from 5% and 4%, respectively.
According to the Central Bank President Henrique Meirelles, the changes were necessary to neutralize the impact of excess liquidity brought by reserve requirement reductions made in 2008, amid the onslaught of the global financial crisis. However, for the central bank it would be a politically difficult task to raise interest rates in the run up to Brazil’s presidential, congressional and other elections in October.
Shaw Capital Management Korea: Brazil’s Economy - The government has launched a new investment trust to invest in the domestic Brazilian economy. BM&F Bovespa, the São Paulo equities and derivatives exchange is to raise its stake in the CME Group of Chicago, the world’s biggest exchange group, to 5% in an attempt to attract more institutional and retail investors to Brazil.
Shaw Capital Management Korea: Brazil’s Economy - The plan for the two exchanges is to work together to develop a new multiasset electronic trading platform based on the CME’s Globex system.
President Lula da Silva, the most popular President in Brazilian history, would like to see October’s presidential election as a plebiscite on his eight years in power. He is asking voters to transfer his success to Ms Dilma Rousseff, his chief minister, whose candidacy has been endorsed by his Workers’ party (PT).
Shaw Capital Management Korea: Brazil’s Economy - Ms Rousseff is further to the left than the present administration, but she has pledged not to make a sudden change of direction. The investors andvoters believe her so far.
We look forward to working with you and being the open architects of your financial well being.
Our goal is to provide consistent quality investment advice to our clients. Although the stock market provides many facets of opportunity for today's investor, there are always just a few stellar markets or niche companies at any given time. It is true that in a healthy market, investments yield favourable returns in a given growth area.
The key is to pick those investments that are driving the trends and will become tomorrow's brightest stars.
One problem is proper allocation of research resources. It is true there is power in numbers, and teams of researchers will generally spot and confirm trends that the individual investor would miss. But on the other hand, too broad of an effort will squander research resources and loose sight of those special investments in an overwhelming sea.
Developing Strategic Research Capital. By having broad and robust resources, then viewing and deploying those resources in a multi-dimensional fashion, a balanced research model is created yielding greater and more focused results. In short, Research Capital. To achieve this result, research is targeted to different dynamics of the market rather than a flat view of just general market trends.
Market trends are viewed across a broad spectrum for change and interaction with associated segments, and then for life and duration of changes.
From this initial analysis comes the ability to focus resources on those segments and opportunities that will shine brightest and meet your investment goals. This is the result of a properly developed research program yielding the greatest return of Research Capital, in short a wealth of specific focused knowledge to provide the depth of advice you need to make the right decision.
At Shaw Capital Asset Management your investment is important to us. That same care in managing our Market Analysis Research Strategy provides you with the information you need to make the right choice.
Shaw Capital Management Korea: Brazil’s Economy - The government’s target for annual consumer price inflation is 4.5%. To contain inflation Brazil’s central bank has raised banking reserve requirements on term deposits from 13% to 15%. In addition to the increase in reserve requirements, the bank also restored additional charges on cash and term deposits to 8% from 5% and 4%, respectively.
According to the Central Bank President Henrique Meirelles, the changes were necessary to neutralize the impact of excess liquidity brought by reserve requirement reductions made in 2008, amid the onslaught of the global financial crisis. However, for the central bank it would be a politically difficult task to raise interest rates in the run up to Brazil’s presidential, congressional and other elections in October.
Shaw Capital Management Korea: Brazil’s Economy - The government has launched a new investment trust to invest in the domestic Brazilian economy. BM&F Bovespa, the São Paulo equities and derivatives exchange is to raise its stake in the CME Group of Chicago, the world’s biggest exchange group, to 5% in an attempt to attract more institutional and retail investors to Brazil.
Shaw Capital Management Korea: Brazil’s Economy - The plan for the two exchanges is to work together to develop a new multiasset electronic trading platform based on the CME’s Globex system.
President Lula da Silva, the most popular President in Brazilian history, would like to see October’s presidential election as a plebiscite on his eight years in power. He is asking voters to transfer his success to Ms Dilma Rousseff, his chief minister, whose candidacy has been endorsed by his Workers’ party (PT).
Shaw Capital Management Korea: Brazil’s Economy - Ms Rousseff is further to the left than the present administration, but she has pledged not to make a sudden change of direction. The investors andvoters believe her so far.
We look forward to working with you and being the open architects of your financial well being.
Our goal is to provide consistent quality investment advice to our clients. Although the stock market provides many facets of opportunity for today's investor, there are always just a few stellar markets or niche companies at any given time. It is true that in a healthy market, investments yield favourable returns in a given growth area.
The key is to pick those investments that are driving the trends and will become tomorrow's brightest stars.
One problem is proper allocation of research resources. It is true there is power in numbers, and teams of researchers will generally spot and confirm trends that the individual investor would miss. But on the other hand, too broad of an effort will squander research resources and loose sight of those special investments in an overwhelming sea.
Developing Strategic Research Capital. By having broad and robust resources, then viewing and deploying those resources in a multi-dimensional fashion, a balanced research model is created yielding greater and more focused results. In short, Research Capital. To achieve this result, research is targeted to different dynamics of the market rather than a flat view of just general market trends.
Market trends are viewed across a broad spectrum for change and interaction with associated segments, and then for life and duration of changes.
From this initial analysis comes the ability to focus resources on those segments and opportunities that will shine brightest and meet your investment goals. This is the result of a properly developed research program yielding the greatest return of Research Capital, in short a wealth of specific focused knowledge to provide the depth of advice you need to make the right decision.
At Shaw Capital Asset Management your investment is important to us. That same care in managing our Market Analysis Research Strategy provides you with the information you need to make the right choice.
Thursday, February 3, 2011
Shaw Capital Management February Newsletter: Government bond Markets 3 of 3
Shaw Capital Management Korea February Newsletter: Article three of three - The markets are assuming that the more powerful members of the eurozone will support the weaker members in order to prevent defaults that might threaten the single currency structure; but the yield spreads have widened considerably to reflect the increased risks. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. The gilt edged market has also come under pressure over the past month; short-term yields have remained basically unchanged, but there have been increases in medium and longer-term yields that has produced a much steeper yield curve.
Shaw Capital Management Korea February Newsletter: Article three of three - There has been evidence of a modest improvement in the economic background; and the Bank of England is proving to be a stabilising influence at a difficult time; but a very disappointing Pre-Budget Report has indicated that there will be no attempt to address the problems of the huge fiscal deficit until after the election. Our tentative view is that the markets will “muddle through”, and that defaults will be avoided; but higher overall yield levels seem unavoidable. Prospects in these markets are therefore very unattractive. Funding pressures will therefore continued to increase; and so, although there does not appear to be any real danger that the UK might join the list of countries that could default on their sovereign debts, annual debt issues in excess of £200 billion cannot continue for long if this is to be avoided. It is no surprise therefore that investors have reacted by reducing their exposure to the market.
Shaw Capital Management Korea February Newsletter: Article three of three - There is still some doubt whether the UK economy has moved out of recession. The pace of contraction in the third quarter of the year has been slightly reduced, and since then the pace of job losses has declined, and consumer spending has held up fairly well. But business investment and manufacturing activity remains weak, and so there may have been no overall improvement in the final quarter of last year. The Bank of England has therefore kept short-term interest rates at 0.5%, and maintained its quantitative easing programme, and this has provided support for the market, since the bank has been a major buyer of gilts in recent months.
Shaw Capital Management Korea February Newsletter: Article three of three - However it has not been enough to prevent a very adverse reaction to the Pre-Budget Report from the UK Chancellor. The market did not really expect any significant action on the deficit ahead of the forth-coming general election; but was still surprised by the apparent lack of realism. The government is prepared to allow the deficit to continue to accumulate, and is relying on the gilt edged market to provide the funds to finance that deficit in the hope that this will enable it to win the election, and has produced no real indications of how the deficit might be reduced even after the election is over. It is not surprising therefore that investors have reacted by reducing exposure, that 10-year yields have risen to 4% and longer-term yields to 4.5%, and that there are even suggestions that the country could face a capital flight and a full-blown debt crisis in the coming months. We do not share these extreme views; but clearly the prospects for the market are very unattractive, and higher yields appear unavoidable. Investors have reacted by reducing exposure... and there are even suggestions that the country could face a capital flight and a fullblown debt crisis in the coming months.
Shaw Capital Management Korea February Newsletter: Article three of three - The Japanese bond market is basically unchanged over the past month; but there are fears that present yield levels are unsustainable. A sharp reduction in the growth estimate for the third quarter of last year, and weaknesses since then have raised the possibility of a move back into recession and a further period of deflation. The government has reacted by launching its fourth fiscal rescue package since the economic crisis began last year. It amounts to the equivalent of a further $81 billion to be spent in the regions and on subsidies for consumer durables, and is expected to lift the debt issuance this year to a record $835 billion, despite the indications that bond investors may be becoming increasingly unwilling to finance such a high level of new bonds, and the warning from the IMF that the government is risking a significant increase in debt funding costs. Since overseas involvement in the bond market is at a very low level, such a development is unlikely to affect bond markets elsewhere directly; but it could be a warning to other countries of the dangers of placing too much pressure on their own markets.
Shaw Capital Management Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management based in Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Shaw Capital Management: South Koreas Economy
South Koreas output is continuing to accelerate, and the government needs to exit from its accommodative economic policies earlier than anticipated. The HSBC Koreas purchasing managers index (PMI) rose from 55.6 in January to 58.2 in February the highest since December 2007. New orders are coming in, and there are rising backlogs of unfulfilled orders.
Shaw Capital Management: South Koreas Economy - Employment too is rising suggesting that the current pace of growth will be sustained for the next several months. Inflation paced a little with consumer prices up 3.1% in January from a year earlier. But inflation in Korea is likely to remain stable for some months.
The central bank is expected to tighten its monetary policy by starting to raise interest rates from the current record low of 2% in the later part of the second quarter as the government retains its focus on job creation and growth.
Shaw Capital Management: South Koreas Economy - Exports expanded 31% year on year, better than Reuters forecast of 22.7%. South Korea posted a much larger-than-expected
trade surplus of $2.33 billion in February as ship deliveries boosted exports, while imports fell as holidays reduced crude oil and natural gas demand.
The government expects a monthly trade surplus of more than $1 billion from March as demand improves. The current-account surplus is most likely to dwindle to around $17 billion this year from $42.7 billion in 2009 as imports rise. A new Bank of Korea governor, widely expected to be a more pro-government figure, will not rush to raise rates after taking office
in April.
Exports grew 31% from a year earlier to $33.27 billion, faster than the expected rise of 21%, while imports climbed 36.9% to $30.94 billion, exceeding a forecast of an expansion of 34.0%.
South Korea, which is heading the G20 group of leading economies wants to leave an imprint of its presidency.
Shaw Capital Management: South Koreas Economy - It is trying to introduce a system of international currency swaps which it hopes will reduce global imbalances by lessening the need for countries to accumulate reserves, seen as one of the causes of last years financial and
economic crisis.
Shaw Capital Management - Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor. Our philosophy is simple: almost every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Before Shaw Capital launched the open architecture revolution, investors had to make the unhappy choice between selecting an advisor who was independent, but unsophisticated (the traditional pension and endowment consulting firms), or selecting an advisor who was sophisticated but had conflicting interests (global banks, trust companies, money management firms).
Today, virtually all investors faced with the challenge of managing a significant pool of capital can access open architecture advice.
A true open architecture firm is completely independent of the rest of the financial services industry and accepts compensation only from its clients.
In addition, open architecture firms must make the financial commitment to hire only the most experienced advisors, and those advisors must apply their experience to the issues that will most affect their clients' wealth.
Matters like asset allocation and manager search are simply too important to be left in the hands of young analysts.
We are proud of our role in leading the open architecture revolution, and look forward to introducing you to its benefits.
Shaw Capital Management: South Koreas Economy - Employment too is rising suggesting that the current pace of growth will be sustained for the next several months. Inflation paced a little with consumer prices up 3.1% in January from a year earlier. But inflation in Korea is likely to remain stable for some months.
The central bank is expected to tighten its monetary policy by starting to raise interest rates from the current record low of 2% in the later part of the second quarter as the government retains its focus on job creation and growth.
Shaw Capital Management: South Koreas Economy - Exports expanded 31% year on year, better than Reuters forecast of 22.7%. South Korea posted a much larger-than-expected
trade surplus of $2.33 billion in February as ship deliveries boosted exports, while imports fell as holidays reduced crude oil and natural gas demand.
The government expects a monthly trade surplus of more than $1 billion from March as demand improves. The current-account surplus is most likely to dwindle to around $17 billion this year from $42.7 billion in 2009 as imports rise. A new Bank of Korea governor, widely expected to be a more pro-government figure, will not rush to raise rates after taking office
in April.
Exports grew 31% from a year earlier to $33.27 billion, faster than the expected rise of 21%, while imports climbed 36.9% to $30.94 billion, exceeding a forecast of an expansion of 34.0%.
South Korea, which is heading the G20 group of leading economies wants to leave an imprint of its presidency.
Shaw Capital Management: South Koreas Economy - It is trying to introduce a system of international currency swaps which it hopes will reduce global imbalances by lessening the need for countries to accumulate reserves, seen as one of the causes of last years financial and
economic crisis.
Shaw Capital Management - Every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor. Our philosophy is simple: almost every investor will achieve better long-term risk-adjusted results by working with a true open architecture advisor.
Before Shaw Capital launched the open architecture revolution, investors had to make the unhappy choice between selecting an advisor who was independent, but unsophisticated (the traditional pension and endowment consulting firms), or selecting an advisor who was sophisticated but had conflicting interests (global banks, trust companies, money management firms).
Today, virtually all investors faced with the challenge of managing a significant pool of capital can access open architecture advice.
A true open architecture firm is completely independent of the rest of the financial services industry and accepts compensation only from its clients.
In addition, open architecture firms must make the financial commitment to hire only the most experienced advisors, and those advisors must apply their experience to the issues that will most affect their clients' wealth.
Matters like asset allocation and manager search are simply too important to be left in the hands of young analysts.
We are proud of our role in leading the open architecture revolution, and look forward to introducing you to its benefits.
Shaw Capital Management News Washington Waxes Brazilian
Brazil provides us with an example of a rapidly developing, energy-hungry economy in the Western Hemisphere, where biofuel is a fact of life. Biofuel is also an investment imperative for energy investors and companies that want to make money in Brazil. As an important part of the #3 economy in the Americas, ethanol can't be ignored by the United States.
(Sugar) Ethanol as a Global Commodity; Focus on Cosan Ltd. (NYSE: CZZ) Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and its happy beginning to 2010 signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels. Cosan, a Brazilian company that processes more sugar than anyone else in the world, is now joining with Royal Dutch Shell (NYSE: RDS), the #2 oil producer in Europe.
Shell is paying Cosan $1.625 billion for half of its core assets. As part of the joint venture that will emerge, Shell is also taking on Cosan's debt and opening up 2,740 Shell service stations to Cosan's sweet, green fuel. Shell will also give Cosan two small Brazilian companies ... Codexis and Iogen ... where Shell has been investing in ethanol. Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and...signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels.
Shaw Capital Management Korea News: Cosan stands to gain big from an efficient system of turning agricultural leftovers into fuel in its own right. Of all the money and knowledge changing hands, one part is most important: By gaining access to Shell's distribution system, Cosan will have the luxury of ramping up production without
worrying if there will be buyers.
Shell wants to fertilize Cosan's cane-based business. Cosan output now has to grow from 2 billion liters per year up to the 3 billion that will be needed to satisfy a total 4,500 fuel stations in Brazil. From there, it's up to 4 and 5 billion liters annually and on to making ethanol a global commodity. You'd be hard pressed to tell the difference between Shell and Cosan's statements on this joint venture if you removed a couple of words. Very simply, each company wants access to the other's expertise. "Cosan represents the best entry to sustainable biofuels in the market... the best entry of scale," Shell's Mark Williams said in London. In Sao Paulo, Cosan Chairman Rubens Ometto said the tie-up is intended to be "the step forward that was lacking, in spite of all our efforts, to make ethanol a global commodity." Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two.
Shaw Capital Management Korea News: Low prices also help, as evidenced in Brazil where flex-fuel vehicles now account for 90% of new cars and truck sales. Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two (Brazil mandates that all gasoline have at least a 20% ethanol component). As it stands, Brazilians are the end users of the vast majority of the ethanol that their country produces (about 25 billion liters annually). And you wouldn't know it from most of the media, but ethanol is more than just an automotive matter...
Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
About Author
 Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc
(Sugar) Ethanol as a Global Commodity; Focus on Cosan Ltd. (NYSE: CZZ) Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and its happy beginning to 2010 signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels. Cosan, a Brazilian company that processes more sugar than anyone else in the world, is now joining with Royal Dutch Shell (NYSE: RDS), the #2 oil producer in Europe.
Shell is paying Cosan $1.625 billion for half of its core assets. As part of the joint venture that will emerge, Shell is also taking on Cosan's debt and opening up 2,740 Shell service stations to Cosan's sweet, green fuel. Shell will also give Cosan two small Brazilian companies ... Codexis and Iogen ... where Shell has been investing in ethanol. Cosan is entering into a joint venture with an oil giant that could be worth $12 billion, and...signals a renewal of interest in ethanol and entrance of some unlikely participants into biofuels.
Shaw Capital Management Korea News: Cosan stands to gain big from an efficient system of turning agricultural leftovers into fuel in its own right. Of all the money and knowledge changing hands, one part is most important: By gaining access to Shell's distribution system, Cosan will have the luxury of ramping up production without
worrying if there will be buyers.
Shell wants to fertilize Cosan's cane-based business. Cosan output now has to grow from 2 billion liters per year up to the 3 billion that will be needed to satisfy a total 4,500 fuel stations in Brazil. From there, it's up to 4 and 5 billion liters annually and on to making ethanol a global commodity. You'd be hard pressed to tell the difference between Shell and Cosan's statements on this joint venture if you removed a couple of words. Very simply, each company wants access to the other's expertise. "Cosan represents the best entry to sustainable biofuels in the market... the best entry of scale," Shell's Mark Williams said in London. In Sao Paulo, Cosan Chairman Rubens Ometto said the tie-up is intended to be "the step forward that was lacking, in spite of all our efforts, to make ethanol a global commodity." Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two.
Shaw Capital Management Korea News: Low prices also help, as evidenced in Brazil where flex-fuel vehicles now account for 90% of new cars and truck sales. Shell's 45,000 stations around the world will pump biofuel to vehicles that can run on gasoline, ethanol, or a mixture of the two (Brazil mandates that all gasoline have at least a 20% ethanol component). As it stands, Brazilians are the end users of the vast majority of the ethanol that their country produces (about 25 billion liters annually). And you wouldn't know it from most of the media, but ethanol is more than just an automotive matter...
Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc.
About Author
 Shaw Capital Management, Korea - Investment Innovation & Excellence. We provide the information, insight and expertise that you need to make the right investment choices. Shaw Capital Management Korea typically offers its clients such services as asset allocation and portfolio design; traditional and non-traditional manager review and selection; portfolio implementation; portfolio monitoring and consolidated performance reporting; and other wealth management services, including estate, tax, trust and insurance planning, asset custody, closely held business issues associated with the establishment or expansion of a family office, the formation of family investment partnerships or LLCs, philanthropy, family dynamics and inter-generation issues, etc
Shaw Capital Management: Foreign Exchange Markets 2010
Prospects therefore remain disappointing, and are being made worse by the differences that exist between member countries. The European Central Bank therefore faces a difficult situation. It continues to forecast “moderate”
It is not surprising therefore that investors and speculators have started to reduce their exposure to the euro.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The critical question therefore is whether the fall of the euro is now over. Since the currency is unlikely to receive any real support from the general background situation in the euro-zone, everything depends on the developing debt situation, and particularly on the situation in Greece; and also on the possibility of support operations from stronger member countries and from the European Central Bank, and the European Commission. The situation remains uncertain. The central bank appears to be reluctant to offer help, and the German government, which might have been expected to become involved, has also made no response so far.
Shaw Capital Management News - But the European Commission has endorsed the latest plans by the Greek government to introduce an across-the-board freeze on public sector wages and cuts in allowances that are expected to reduce the overall public sector wage bill by around 4%.
This may encourage support from elsewhere; however the Commission has warned that it will not tolerate any slippage from the target and will if necessary demand tougher action from the government to ensure that it stays on course.
But it is far from clear that the Greek government can obtain the necessary support in parliament even for the present proposed measures, and so the uncertainty will continue.
It is therefore likely that there will be further falls in the euro over the coming weeks.
Sterling has improved slightly over the past month, helped by the weakness of the euro.
Shaw Capital Management News - The background situation in the UK remains unattractive, and there have already been threats that its AAA credit rating is at risk unless there are credible measures to reduce the massive fiscal deficit after the forthcoming general election is over.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The European Central Bank therefore faces a difficult situation. It continues to forecast “moderate”
But the UK is not constrained by membership of the European single currency system, and so there is no immediate risk of a default on its sovereign debts.
It has therefore been able to benefit from the problems affecting some other European countries.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The latest figures from the Office of National Statistics indicate that the UK just managed to move out of recession in the final quarter of last year. The estimate of growth of only 0.1% in the quarter was a considerable disappointment, and it is expected that it will be revised higher; but clearly the economy is not performing very well.
Government spending remains strong, and there was a surge in retail sales in the run-up to Christmas; but the anecdotal evidence suggests that consumers became much more cautious again in January.
The latest meeting of the Monetary Policy Committee of the Bank of England was concerned by the poor reaction so far to the dramatic measures that have been introduced to counter the recession, and reacted to this situation by leaving UK base rates unchanged once again at 0.5%.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - It clearly has no intention of moving to an “exit strategy” until there is convincing evidence that a sustainable recovery in the economy is underway.
It did announce that purchases of market securities under the quantitative easing programme would now be discontinued after the £200 billion target has been reached; but its main priority is to continue to provide support for the fragile economic recovery.
Fiscal policy is also likely to remain unchanged until after the election, because the necessary measures to reduce the huge deficit will be unpopular, and might influence the outcome of that election.
Sterling is therefore receiving no real support from the domestic background situation, and in other circumstances might have been expected to move lower.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - But the problems affecting the other major global currencies, and particularly the problems affecting the euro, have at least delayed any further falls. The yen has improved over the past month, despite a generally unfavourable domestic background situation, and some attempts by the Japanese authorities to prevent its appreciation against other currencies.
It has achieved an enhanced “safe haven” status in the current storm in the currency markets, and on the back of the relative success of its exports. But conditions in the Japanese economy remain very weak, and there has even been the threat of a downgrade of its credit rating unless measures are introduced to reduce its massive fiscal deficit.
However it does not appear that this threat will prevent the new Japanese government from introducing further measures to stimulate the economy, and urging the Bank of Japan to intervene in the markets to weaken the yen, and so its prospects remain very uncertain.
It is not surprising therefore that investors and speculators have started to reduce their exposure to the euro.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The critical question therefore is whether the fall of the euro is now over. Since the currency is unlikely to receive any real support from the general background situation in the euro-zone, everything depends on the developing debt situation, and particularly on the situation in Greece; and also on the possibility of support operations from stronger member countries and from the European Central Bank, and the European Commission. The situation remains uncertain. The central bank appears to be reluctant to offer help, and the German government, which might have been expected to become involved, has also made no response so far.
Shaw Capital Management News - But the European Commission has endorsed the latest plans by the Greek government to introduce an across-the-board freeze on public sector wages and cuts in allowances that are expected to reduce the overall public sector wage bill by around 4%.
This may encourage support from elsewhere; however the Commission has warned that it will not tolerate any slippage from the target and will if necessary demand tougher action from the government to ensure that it stays on course.
But it is far from clear that the Greek government can obtain the necessary support in parliament even for the present proposed measures, and so the uncertainty will continue.
It is therefore likely that there will be further falls in the euro over the coming weeks.
Sterling has improved slightly over the past month, helped by the weakness of the euro.
Shaw Capital Management News - The background situation in the UK remains unattractive, and there have already been threats that its AAA credit rating is at risk unless there are credible measures to reduce the massive fiscal deficit after the forthcoming general election is over.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The European Central Bank therefore faces a difficult situation. It continues to forecast “moderate”
But the UK is not constrained by membership of the European single currency system, and so there is no immediate risk of a default on its sovereign debts.
It has therefore been able to benefit from the problems affecting some other European countries.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - The latest figures from the Office of National Statistics indicate that the UK just managed to move out of recession in the final quarter of last year. The estimate of growth of only 0.1% in the quarter was a considerable disappointment, and it is expected that it will be revised higher; but clearly the economy is not performing very well.
Government spending remains strong, and there was a surge in retail sales in the run-up to Christmas; but the anecdotal evidence suggests that consumers became much more cautious again in January.
The latest meeting of the Monetary Policy Committee of the Bank of England was concerned by the poor reaction so far to the dramatic measures that have been introduced to counter the recession, and reacted to this situation by leaving UK base rates unchanged once again at 0.5%.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - It clearly has no intention of moving to an “exit strategy” until there is convincing evidence that a sustainable recovery in the economy is underway.
It did announce that purchases of market securities under the quantitative easing programme would now be discontinued after the £200 billion target has been reached; but its main priority is to continue to provide support for the fragile economic recovery.
Fiscal policy is also likely to remain unchanged until after the election, because the necessary measures to reduce the huge deficit will be unpopular, and might influence the outcome of that election.
Sterling is therefore receiving no real support from the domestic background situation, and in other circumstances might have been expected to move lower.
Shaw Capital Management News - Foreign Exchange Markets 2010 Part 4: - But the problems affecting the other major global currencies, and particularly the problems affecting the euro, have at least delayed any further falls. The yen has improved over the past month, despite a generally unfavourable domestic background situation, and some attempts by the Japanese authorities to prevent its appreciation against other currencies.
It has achieved an enhanced “safe haven” status in the current storm in the currency markets, and on the back of the relative success of its exports. But conditions in the Japanese economy remain very weak, and there has even been the threat of a downgrade of its credit rating unless measures are introduced to reduce its massive fiscal deficit.
However it does not appear that this threat will prevent the new Japanese government from introducing further measures to stimulate the economy, and urging the Bank of Japan to intervene in the markets to weaken the yen, and so its prospects remain very uncertain.
Thursday, January 27, 2011
Shaw Brothers Sells 26% Stake In TVB
January 27 -- Television Broadcasts (0511.HK) filed on January 26 that major shareholder, Shaw Brothers (Hong Kong), sold a 26 percent stake in the company to a consortium comprising Charles Chan, Cher Wang and Providence Equity Partners, reports 163.com.
According to rumors in the market, the total consideration for the stake may be HK$6.5-9.5 billion.
Run Run Shaw will remain as the chairman of Television Broadcasts while his wife, Mona Fong will remain as the vice chairman.
The deal is expected to be completed before March 31.
After the completion of the deal, Shaw Foundation (Hong Kong), Mona Fong and the consortium will jointly hold a 30 percent stake in Television Broadcasts.
Cochrane Shaw
As a Principal Member of the Financial Planning Association of Australia, Cochrane Shaw Capital Management Pty Ltd is a boutique dealer providing financial services to a diverse range of individual clients and corporations as well as accounting firms and legal practices.
New Clients Section: Contains general service information.
Latest News Articles: Frequently updated helpful news resources.
New Clients Section: Contains general service information.
Latest News Articles: Frequently updated helpful news resources.
History - The Shaw Group Inc.
In 1987, Jim Bernhard started a pipe fabrication company with two colleagues. Their mission was to provide quality products and services while creating a dynamic and challenging work environment for their employees.
Twenty years and 27,000 employees later, The Shaw Group Inc. is now established in nearly 150 locations around the globe and is the world's leading solutions-based company that develops, designs, builds, maintains and operates programs and facilities for our clients.
Through a bold and agile management strategy, Shaw has become one of the world's only vertically integrated providers of comprehensive engineering, procurement, construction, technology, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the power, energy, chemical, environmental, infrastructure, emergency response, homeland security and nuclear services industries.
Take a look at the history of Shaw. It's a legacy of opportunities anticipated and seized.
1987
The company is originally formed in 1987 under the name Shaw Industries, Inc. (Shaw Industries). Shortly thereafter it acquires certain assets of B.F. Shaw, Inc., a Laurens, S.C., company.
1993
Shaw Industries and Abdulla Ahmed Nass (a Bahrainian entity) form Shaw Nass Middle East, W.L.L. to operate a 60,000-square-foot fabrication facility in Bahrain to service the Middle East.
Shaw Industries, through a wholly owned subsidiary, and Formiconi C.A. form Shaw-Formiconi, C.A. (now known as Manufacturas Shaw South America, C.A.) to operate a 50,000-square-foot fabrication facility in Maracaibo, Venezuela, to service South and Latin America.
Shaw Industries acquires Shaw Sunland Fabricators, Inc., a Louisiana pipe fabrication company, with a capability of 4,000 to 6,000 spools per month. This acquisition brings Shaw Industries employment to approximately 1,900 employees.
Shaw Industries changes its name to The Shaw Group Inc. (Shaw) and conducts an initial public stock offering of 3,125,000 shares at $14.50 per share. The common stock is first listed on the NASDAQ National Market.
Jim Bernhard, then President and CEO, is elected Chairman of the Board of Directors.
1994
Shaw acquires Fronek Company, Inc. and F.C.I. Pipe Support Sales, Inc.
1996
Shaw acquires Word Industries Fabricators, Inc.
Shaw acquires stock of Alloy Piping Products, Inc., a Louisiana manufacturer of carbon steel, alloy and stainless steel pipe fittings and other pipe products.
Shaw acquires the snubber and hydraulic restraints manufacturing business from Fronek A/DE, Inc.
Shaw acquires Naptech, Inc., a fabricator of industrial piping systems and engineered piping modules.
Shaw acquires stock of Pipe Shields, Inc., a California manufacturer of pre-insulated pipe hanger supports.
Shaw raises approximately $50,358,000 in common stock offering of 2,398,000 shares at $21 per share.
1997
Shaw acquires two industrial constructors and project maintenance businesses, United Crafts, Inc. (UCI) and Merit Industrial Constructors, Inc.
Shaw acquires Cojafex B.V. of Rotterdam, Holland.
Shaw acquires Prospect Industries plc, which consists of Aiton Power Corporation (U.K. and Australia), Dunn Constructors, and C.B.P. Engineering Corp. Shaw added the previously acquired contractor PED to this group to form Shaw UK.
Shaw acquires Lancas, C.A. (Lancas), a construction company in Punto Fijo, Venezuela.
2000
Shaw joins with Entergy Corporation to create EntergyShaw L.L.C., a new equally owned and jointly managed company to construct power plants in North America and Europe for Entergy's unregulated wholesale operations.
Shaw acquires substantially all of the assets and certain liabilities of Stone & Webster Incorporated, a 110-year-old engineering and construction company, bringing the total number of employees to more than 12,000.
Shaw raises approximately $153,585,482 in common stock offering of 2,418,669 shares at $63.50 per share.
Shaw's Board of Directors authorizes a two-for-one stock split of common stock.
2001
Shaw breaks ground on a new 350,000-square-foot worldwide headquarters in Baton Rouge, La.
Jim Bernhard, Shaw's Chairman, President and CEO, is recognized by Ernst & Young as Manufacturing Entrepreneur of the Year.
2002
Shaw acquires substantially all of the assets and certain liabilities of The IT Group, Inc., bringing Shaw's total number of employees to 18,000.
Shaw opens a new pipe fabrication facility in China.
2003
Shaw acquires stock of Envirogen, Inc. and its wholly owned subsidiary, MWR, Inc.
Shaw debuts on Fortune magazine's Fortune 500 list at No. 479 with $3.2 billion in revenue for 2002.
Shaw acquires assets of Badger/P&C business from Washington Group International, Inc.
Shaw acquires stock of Energy Delivery Services from Duke Energy Global Markets, Inc.
Shaw raises approximately $230 million in common stock offering of 23 million shares at $10.00 per share.
2004
Shaw is named to Fortune magazine's Fortune 500 list for the second consecutive year and also debuted on the magazine's list of "America's Most Admired Companies."
Shaw reports second-highest backlog in its history with $6 billion as of May 31, 2004.
Shaw raises approximately $28,973,100 in common stock offering of 2,346,000 shares at $12.35 per share.
2005
Shaw is named as one of "America's Most Admired Companies" by Fortune magazine for the second consecutive year.
Shaw joins Westinghouse in the AP1000™ Consortium as Architect Engineer.
Hurricane Katrina strikes the Gulf Coast region just two short days before the end of the company's fiscal year. A leader in emergency hurricane response work, Shaw is called upon to provide a broad range of services including power restoration, emergency provisions, housing and temporary roof repairs.
Shaw and its Louisiana-based subcontractors pump the floodwaters from New Orleans in 17 days. The experts predicted it would take three months.
Shaw reports record backlog of $6.7 billion for fiscal 2005 and marked six consecutive quarters of positive earnings and cash flow performance at fiscal year-end.
Shaw raises approximately $273 million in common stock offering of 12.85 million shares at $19.50 per share.
2006
Shaw increases its credit facility to $750 million.
Shaw and its employees announce a total cash contribution of $1 million to hurricane relief and recovery efforts.
Shaw acquires maritime engineering and design firm Gottlieb, Barnett & Bridges (GBB).
Shaw reports record revenues of $4.8 billion and record backlog of $9.1 billion for fiscal 2006 and ends the fiscal year with more than 22,000 employees.
Shaw acquires a 20 percent ownership position in Westinghouse Electric Company, the world's premier provider of power generating technology, equipment, licensing expertise, fuel and services for nuclear plants.
The People's Republic of China's State Nuclear Power Technology Company (SNPTC) selects the Westinghouse/Shaw Consortium and Westinghouse's AP1000 passive Generation III technology as the basis for four new nuclear power plants to be constructed in China.
2007
Shaw booked nearly $11 billion in new awards during fiscal year 2007, and its backlog of unfilled orders at Aug. 31, 2007, rose to a record $14.3 billion. Year-end revenues were $5.7 billion.
Shaw is named "Contractor of the Year" by Associated Builders and Contractors Association.
Shaw names Charlotte, N.C., as headquarters for its Power Group.
Shaw is awarded contracts for four major clean coal electric generating facilities for clients AEP, Dominion, Duke and Entergy.
Westinghouse and Shaw sign historic definitive contracts to provide four AP1000 nuclear power plants in China.
Shaw is awarded a maintenance and modifications services contract for Exelon Generation Company, LLC's fleet of 17 nuclear stations, the largest nuclear fleet in the U.S.
Shaw increases its pipe fabrication and manufacturing volume capacity with the acquisitions of Mid States Pipe Fabrication, Inc. and Ezeflow (NJ) Inc. (TUBE-LINE), the re-opening of its Tulsa, Okla., pipe fabrication facility, the expansion of its Sunland facility and the development of a new fabrication facility in Mexico.
Shaw is awarded a contract to provide technology, design, engineering, procurement and construction for ExxonMobil Chemical's 1,000,000 tons-per-year olefins recovery facility and 220-megawatt power cogeneration unit in Singapore.
Shaw Capital, Inc. is formed to identify, develop and execute proposed investments, including acquisitions of operating assets, expansions and retrofitting of existing facilities, new constructions and project development.
Shaw completes the Comprehensive Master Plan for Coastal Restoration and Hurricane Protection for the State of Louisiana Department of Natural Resources and is chosen by the South Florida Water Management District to provide comprehensive engineering services as part of the continued efforts to restore the Everglades.
Shaw is awarded a contract to perform engineering, procurement and construction management services for a 2,000 metric ton-per-year polysilicon manufacturing plant.
2008
Shaw opens a new office in Shanghai, China, to support the rapidly growing Chinese nuclear power industry, which includes Shaw’s ongoing work at plants in Sanmen and Haiyang.
Shaw begins project management, design and construction of the Inner Harbor Navigation Canal Surge Barrier project, the largest design-build project ever awarded by the U.S. Army Corps of Engineers.
Shaw and Westinghouse sign historic contracts to build the first new commercial nuclear plants in the U.S. in more than 30 years. The team is awarded an engineering, procurement and construction contract by Georgia Power Company, a subsidiary of Southern Company, for two Westinghouse AP1000 nuclear power units and related facilities. The team also is awarded an engineering, procurement and construction contract by South Carolina Electric & Gas Co., principal subsidiary of SCANA Corp., and the South Carolina Public Service Authority (Santee Cooper) for two Westinghouse AP1000 nuclear power units.
Cash flow generation, sizable cash balance and favorable end markets result in an upgrade to Shaw’s credit ratings by Standard & Poor’s Ratings Services.
Shaw opens a new fabrication facility in Matamoros, Mexico, significantly increasing pipe fabrication capacity.
Shaw AREVA MOX Services LLC signs a final construction contract for the Department of Energy’s Mixed Oxide (MOX) Fuel Fabrication Facility in Aiken, S.C., where surplus weapons-grade plutonium is set to be transformed into nuclear fuel.
2009
Shaw and Westinghouse are awarded an engineering, procurement and construction contract by Progress Energy Florida Inc., a subsidiary of Progress Energy, for two Westinghouse AP1000 nuclear power units in Levy Country, Fla.
Shaw opens a new office in Abu Dhabi, United Arab Emirates, to support its increasing activity throughout the Middle East.
Shaw and Westinghouse receive full notice to proceed from Southern Nuclear on its engineering, procurement and construction contract for two Westinghouse AP1000 nuclear power units near Augusta, Ga.
Shaw and Westinghouse, along with China’s State Nuclear Power Technology Corp. (SNPTC), reach milestones at the Sanmen nuclear power plant project in China, successfully completing placement of first nuclear concrete and also of the first major structural module.
Shaw and China’s SNPTC sign a strategic cooperation agreement, allowing both companies to issue tasks to support each other in China’s growing nuclear infrastructure business. SNPTC announced plans to build at least 30 new nuclear power plants in China by 2020.
Shaw changes its stock ticker symbol on the New York Stock Exchange from “SGR” to “SHAW” to better identify the company’s name with its stock.
The Shaw Group ranks No. 357 on the Fortune 500 list, reaching record revenues of $7.3 billion for fiscal 2009.
Shaw completes an air quality control retrofit program for a fleet of three coal-fired power plants in Maryland for Mirant Mid-Atlantic, modernizing seven units.
2010
Shaw successfully completes an air quality control retrofit project for PPL Generation at its Brunner island coal-fired power plant in Pennsylvania.
Shaw achieves substantial completion of a new, 660-MW circulating fluidized bed petcoke-fired power plant for Cleco Power LLC in Louisiana after being awarded the engineering, procurement and construction contract in 2005.
Shaw CEO, Chairman and President J.M. Bernhard Jr. participates in President Barack Obama’s announcement of the first conditional federal loan guarantee for new nuclear plant construction. Southern Company was awarded the guarantee for Vogtle Electric Generating Plant in Georgia, where Shaw is building two AP1000 commercial nuclear units.
Shaw climbs to No. 309 on the Fortune 500 list, seven years after its debut on the list.
For the third consecutive year, Shaw was named the power sector industry leader, according to Engineering News-Record's list of Top 500 Design Firms.
Twenty years and 27,000 employees later, The Shaw Group Inc. is now established in nearly 150 locations around the globe and is the world's leading solutions-based company that develops, designs, builds, maintains and operates programs and facilities for our clients.
Through a bold and agile management strategy, Shaw has become one of the world's only vertically integrated providers of comprehensive engineering, procurement, construction, technology, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the power, energy, chemical, environmental, infrastructure, emergency response, homeland security and nuclear services industries.
Take a look at the history of Shaw. It's a legacy of opportunities anticipated and seized.
1987
The company is originally formed in 1987 under the name Shaw Industries, Inc. (Shaw Industries). Shortly thereafter it acquires certain assets of B.F. Shaw, Inc., a Laurens, S.C., company.
1993
Shaw Industries and Abdulla Ahmed Nass (a Bahrainian entity) form Shaw Nass Middle East, W.L.L. to operate a 60,000-square-foot fabrication facility in Bahrain to service the Middle East.
Shaw Industries, through a wholly owned subsidiary, and Formiconi C.A. form Shaw-Formiconi, C.A. (now known as Manufacturas Shaw South America, C.A.) to operate a 50,000-square-foot fabrication facility in Maracaibo, Venezuela, to service South and Latin America.
Shaw Industries acquires Shaw Sunland Fabricators, Inc., a Louisiana pipe fabrication company, with a capability of 4,000 to 6,000 spools per month. This acquisition brings Shaw Industries employment to approximately 1,900 employees.
Shaw Industries changes its name to The Shaw Group Inc. (Shaw) and conducts an initial public stock offering of 3,125,000 shares at $14.50 per share. The common stock is first listed on the NASDAQ National Market.
Jim Bernhard, then President and CEO, is elected Chairman of the Board of Directors.
1994
Shaw acquires Fronek Company, Inc. and F.C.I. Pipe Support Sales, Inc.
1996
Shaw acquires Word Industries Fabricators, Inc.
Shaw acquires stock of Alloy Piping Products, Inc., a Louisiana manufacturer of carbon steel, alloy and stainless steel pipe fittings and other pipe products.
Shaw acquires the snubber and hydraulic restraints manufacturing business from Fronek A/DE, Inc.
Shaw acquires Naptech, Inc., a fabricator of industrial piping systems and engineered piping modules.
Shaw acquires stock of Pipe Shields, Inc., a California manufacturer of pre-insulated pipe hanger supports.
Shaw raises approximately $50,358,000 in common stock offering of 2,398,000 shares at $21 per share.
1997
Shaw acquires two industrial constructors and project maintenance businesses, United Crafts, Inc. (UCI) and Merit Industrial Constructors, Inc.
Shaw acquires Cojafex B.V. of Rotterdam, Holland.
Shaw acquires Prospect Industries plc, which consists of Aiton Power Corporation (U.K. and Australia), Dunn Constructors, and C.B.P. Engineering Corp. Shaw added the previously acquired contractor PED to this group to form Shaw UK.
Shaw acquires Lancas, C.A. (Lancas), a construction company in Punto Fijo, Venezuela.
2000
Shaw joins with Entergy Corporation to create EntergyShaw L.L.C., a new equally owned and jointly managed company to construct power plants in North America and Europe for Entergy's unregulated wholesale operations.
Shaw acquires substantially all of the assets and certain liabilities of Stone & Webster Incorporated, a 110-year-old engineering and construction company, bringing the total number of employees to more than 12,000.
Shaw raises approximately $153,585,482 in common stock offering of 2,418,669 shares at $63.50 per share.
Shaw's Board of Directors authorizes a two-for-one stock split of common stock.
2001
Shaw breaks ground on a new 350,000-square-foot worldwide headquarters in Baton Rouge, La.
Jim Bernhard, Shaw's Chairman, President and CEO, is recognized by Ernst & Young as Manufacturing Entrepreneur of the Year.
2002
Shaw acquires substantially all of the assets and certain liabilities of The IT Group, Inc., bringing Shaw's total number of employees to 18,000.
Shaw opens a new pipe fabrication facility in China.
2003
Shaw acquires stock of Envirogen, Inc. and its wholly owned subsidiary, MWR, Inc.
Shaw debuts on Fortune magazine's Fortune 500 list at No. 479 with $3.2 billion in revenue for 2002.
Shaw acquires assets of Badger/P&C business from Washington Group International, Inc.
Shaw acquires stock of Energy Delivery Services from Duke Energy Global Markets, Inc.
Shaw raises approximately $230 million in common stock offering of 23 million shares at $10.00 per share.
2004
Shaw is named to Fortune magazine's Fortune 500 list for the second consecutive year and also debuted on the magazine's list of "America's Most Admired Companies."
Shaw reports second-highest backlog in its history with $6 billion as of May 31, 2004.
Shaw raises approximately $28,973,100 in common stock offering of 2,346,000 shares at $12.35 per share.
2005
Shaw is named as one of "America's Most Admired Companies" by Fortune magazine for the second consecutive year.
Shaw joins Westinghouse in the AP1000™ Consortium as Architect Engineer.
Hurricane Katrina strikes the Gulf Coast region just two short days before the end of the company's fiscal year. A leader in emergency hurricane response work, Shaw is called upon to provide a broad range of services including power restoration, emergency provisions, housing and temporary roof repairs.
Shaw and its Louisiana-based subcontractors pump the floodwaters from New Orleans in 17 days. The experts predicted it would take three months.
Shaw reports record backlog of $6.7 billion for fiscal 2005 and marked six consecutive quarters of positive earnings and cash flow performance at fiscal year-end.
Shaw raises approximately $273 million in common stock offering of 12.85 million shares at $19.50 per share.
2006
Shaw increases its credit facility to $750 million.
Shaw and its employees announce a total cash contribution of $1 million to hurricane relief and recovery efforts.
Shaw acquires maritime engineering and design firm Gottlieb, Barnett & Bridges (GBB).
Shaw reports record revenues of $4.8 billion and record backlog of $9.1 billion for fiscal 2006 and ends the fiscal year with more than 22,000 employees.
Shaw acquires a 20 percent ownership position in Westinghouse Electric Company, the world's premier provider of power generating technology, equipment, licensing expertise, fuel and services for nuclear plants.
The People's Republic of China's State Nuclear Power Technology Company (SNPTC) selects the Westinghouse/Shaw Consortium and Westinghouse's AP1000 passive Generation III technology as the basis for four new nuclear power plants to be constructed in China.
2007
Shaw booked nearly $11 billion in new awards during fiscal year 2007, and its backlog of unfilled orders at Aug. 31, 2007, rose to a record $14.3 billion. Year-end revenues were $5.7 billion.
Shaw is named "Contractor of the Year" by Associated Builders and Contractors Association.
Shaw names Charlotte, N.C., as headquarters for its Power Group.
Shaw is awarded contracts for four major clean coal electric generating facilities for clients AEP, Dominion, Duke and Entergy.
Westinghouse and Shaw sign historic definitive contracts to provide four AP1000 nuclear power plants in China.
Shaw is awarded a maintenance and modifications services contract for Exelon Generation Company, LLC's fleet of 17 nuclear stations, the largest nuclear fleet in the U.S.
Shaw increases its pipe fabrication and manufacturing volume capacity with the acquisitions of Mid States Pipe Fabrication, Inc. and Ezeflow (NJ) Inc. (TUBE-LINE), the re-opening of its Tulsa, Okla., pipe fabrication facility, the expansion of its Sunland facility and the development of a new fabrication facility in Mexico.
Shaw is awarded a contract to provide technology, design, engineering, procurement and construction for ExxonMobil Chemical's 1,000,000 tons-per-year olefins recovery facility and 220-megawatt power cogeneration unit in Singapore.
Shaw Capital, Inc. is formed to identify, develop and execute proposed investments, including acquisitions of operating assets, expansions and retrofitting of existing facilities, new constructions and project development.
Shaw completes the Comprehensive Master Plan for Coastal Restoration and Hurricane Protection for the State of Louisiana Department of Natural Resources and is chosen by the South Florida Water Management District to provide comprehensive engineering services as part of the continued efforts to restore the Everglades.
Shaw is awarded a contract to perform engineering, procurement and construction management services for a 2,000 metric ton-per-year polysilicon manufacturing plant.
2008
Shaw opens a new office in Shanghai, China, to support the rapidly growing Chinese nuclear power industry, which includes Shaw’s ongoing work at plants in Sanmen and Haiyang.
Shaw begins project management, design and construction of the Inner Harbor Navigation Canal Surge Barrier project, the largest design-build project ever awarded by the U.S. Army Corps of Engineers.
Shaw and Westinghouse sign historic contracts to build the first new commercial nuclear plants in the U.S. in more than 30 years. The team is awarded an engineering, procurement and construction contract by Georgia Power Company, a subsidiary of Southern Company, for two Westinghouse AP1000 nuclear power units and related facilities. The team also is awarded an engineering, procurement and construction contract by South Carolina Electric & Gas Co., principal subsidiary of SCANA Corp., and the South Carolina Public Service Authority (Santee Cooper) for two Westinghouse AP1000 nuclear power units.
Cash flow generation, sizable cash balance and favorable end markets result in an upgrade to Shaw’s credit ratings by Standard & Poor’s Ratings Services.
Shaw opens a new fabrication facility in Matamoros, Mexico, significantly increasing pipe fabrication capacity.
Shaw AREVA MOX Services LLC signs a final construction contract for the Department of Energy’s Mixed Oxide (MOX) Fuel Fabrication Facility in Aiken, S.C., where surplus weapons-grade plutonium is set to be transformed into nuclear fuel.
2009
Shaw and Westinghouse are awarded an engineering, procurement and construction contract by Progress Energy Florida Inc., a subsidiary of Progress Energy, for two Westinghouse AP1000 nuclear power units in Levy Country, Fla.
Shaw opens a new office in Abu Dhabi, United Arab Emirates, to support its increasing activity throughout the Middle East.
Shaw and Westinghouse receive full notice to proceed from Southern Nuclear on its engineering, procurement and construction contract for two Westinghouse AP1000 nuclear power units near Augusta, Ga.
Shaw and Westinghouse, along with China’s State Nuclear Power Technology Corp. (SNPTC), reach milestones at the Sanmen nuclear power plant project in China, successfully completing placement of first nuclear concrete and also of the first major structural module.
Shaw and China’s SNPTC sign a strategic cooperation agreement, allowing both companies to issue tasks to support each other in China’s growing nuclear infrastructure business. SNPTC announced plans to build at least 30 new nuclear power plants in China by 2020.
Shaw changes its stock ticker symbol on the New York Stock Exchange from “SGR” to “SHAW” to better identify the company’s name with its stock.
The Shaw Group ranks No. 357 on the Fortune 500 list, reaching record revenues of $7.3 billion for fiscal 2009.
Shaw completes an air quality control retrofit program for a fleet of three coal-fired power plants in Maryland for Mirant Mid-Atlantic, modernizing seven units.
2010
Shaw successfully completes an air quality control retrofit project for PPL Generation at its Brunner island coal-fired power plant in Pennsylvania.
Shaw achieves substantial completion of a new, 660-MW circulating fluidized bed petcoke-fired power plant for Cleco Power LLC in Louisiana after being awarded the engineering, procurement and construction contract in 2005.
Shaw CEO, Chairman and President J.M. Bernhard Jr. participates in President Barack Obama’s announcement of the first conditional federal loan guarantee for new nuclear plant construction. Southern Company was awarded the guarantee for Vogtle Electric Generating Plant in Georgia, where Shaw is building two AP1000 commercial nuclear units.
Shaw climbs to No. 309 on the Fortune 500 list, seven years after its debut on the list.
For the third consecutive year, Shaw was named the power sector industry leader, according to Engineering News-Record's list of Top 500 Design Firms.
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