The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil’s planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
...His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. Soros bought 5.8 million of the company’s U.S.-traded preferred shares.
Soros is taking advantage of the spread between the two types of U.S.-listed Petrobras shares, said Luis Maizel, president of LM Capital Group LLC, which manages about $4 billion. The common shares were 21 percent more expensive than preferred today, according to data compiled by Bloomberg. …
Petrobras preferred shares have also a 10 percent additional dividend, said William Landers, a senior portfolio manager for Latin America at Blackrock Inc.
“Given that there will most likely never be a change in control in the company, I see no reason to pay a higher price for the common shares.” Brazil’s government controls Petrobras and has a majority stake of voting shares.
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My Inalienable Rights were given to me by God and NOT by the Government.
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"If You Open It, You Get The WHOLE Can." - Capt. "Petey"
Igitur Qui Desiderat Pacem, Praeparet Bellum - Publius Flavius Vegetius Renatus
"Absorb What Is Useful." - Sigung Bruce
"Stupidity isn't supposed to make sense. That's why we call it stupidity." - Big Sexy
"**** 'em, just shoot the cocksuckers." - Cat Doc
"You can't let a fat chick make you sad." - CityOfChicago
"Somebody needs to start issuing lives to people." - RDS
I always thought "Shrub" was piss weak. I know it was an attempt at some sort of humour ("Little Bush" I suppose) but it was still bloody annoying to read it all the time. Yes and disrespectful. The whole twisting the name of a person thing is too damn playground politics for me.
We have the same rubbish going on here with our PM Kevin Rudd, being referred to by the reactionary right as KRudd or Krudd. Again, piss weak and highly derivative, not even original. I'm not suggesting any serving or former politician is immune from criticism but if it were kept on point it would be helpful.
If you want to know how to slice up an ex-politician read this:
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