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Font ResizeLocal NewsBy Kieran Nicholson
The Denver Postdenverpost.comPosted: 12/14/2012 07:05:59 AM MSTDecember 14, 2012 5:10 PM GMTUpdated: 12/14/2012 10:10:36 AM MST
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Friday, December 14, 2012
Colorado roads to see another $300 million per year for 5 years
Font ResizeLocal NewsBy Tim Hoover
The Denver Postdenverpost.comPosted: 12/14/2012 09:56:06 AM MSTDecember 14, 2012 5:15 PM GMTUpdated: 12/14/2012 10:15:33 AM MST
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The Denver Postdenverpost.comPosted: 12/14/2012 09:56:06 AM MSTDecember 14, 2012 5:15 PM GMTUpdated: 12/14/2012 10:15:33 AM MST
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Evans man guilty in attempted attack of a 10-year-old girl
Mark Garza (Weld County Sheriff's Office)
An Evans man pleaded guilty Thursday to a sex crime involving a child.
Mark Garza, 39, pleaded guilty in Weld County District Court to kidnapping and attempted sexual assault on a child, prosecutors said.
Garza was arrested by Evans police on June 4 after a 10-year-old girl, who had visited his house, said that he had "forcefully touched her in a sexual manner," according to a media release from the Weld County District Attorney's Office.
The girl, according to court records, said Garza forced her into his bedroom and tried to assault her but she was able to "fight him off."
Garza is scheduled to be sentenced on Feb. 20.
Kieran Nicholson: 303-954-1822, knicholson
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Former Democrat of the Year in Jefferson County receives probation in theft case
Font ResizePoliticsBy Lynn Bartels
The Denver Postdenverpost.comPosted: 12/14/2012 11:48:06 AM MSTDecember 14, 2012 6:49 PM GMTUpdated: 12/14/2012 11:49:08 AM MST
The Denver Postdenverpost.comPosted: 12/14/2012 11:48:06 AM MSTDecember 14, 2012 6:49 PM GMTUpdated: 12/14/2012 11:49:08 AM MST
Jefferson County's former Democrat of the Year, convicted of theft from an at-risk person, was sentenced Friday morning to 18 months probation.
A District Court judge also ordered Estelle Carson to pay $855 restitution to the 71-year-old victim, and perform 60 hours of community service.
Carson wrote three checks from the woman's account, including one to pay for Carson's cable, Internet and phone when they were about to be canceled, according to the Jefferson County district attorney's office.
The victim, known publicly only as Louise, is legally blind and has cerebral palsy. The incident has made her less trusting, said a friend, Lisa Kaiser, who was at the sentencing.
"A person with disablities depends on being able to trust people," Kaiser said.
But Kaiser said Louise was grateful that authorities took the complaint seriously, and that the conviction will be on Carson's record.
Carson, 67, could not be reached for comment. A Jefferson County jury in October found her guilty of two felony counts, identity theft and theft from an at-risk person.
Carson, of Wheat Ridge, in January was as named Democrat of the Year by the Jefferson County Democratic Party. The party revoked her honor after she was convicted, party chairman Chris Kennedy said.
Lynn Bartels: 303-954-5327, lbartels
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The week ahead...
As stock exchanges ease towards the Christmas break there will be little major corporate news, but economic releases may keep investors on their toes.
Monday 17 DecemberOnce again Monday will prove a quiet one, with no big economic or corporate news in the diary.
Trading statementsAggreko.
AGM/EGMPROACTIS Holdings, Churchill Mining.
Tuesday 18 DecemberKeller Group (KLR) will release a pre-close update on Tuesday.
Recent news: Keller's November interim management statement indicated strong trading in the four months to October. Progress was being driven by its North American operations which was benefiting from "gradual improvement in construction markets". Asia was also trading well, Australia is ahead of last year and emerging markets were resilient.
Analysts' expectations: Analysts at Panmure Gordon comment: "While many of its end markets remain difficult, early action on costs and improving efficiency is working. We expect confirmation of a good year with the pre-close update. We also upgrade our forecasts and target price to reflect this improvement.
"Following the November interim management statement we belatedly update our forecasts. Our new 2012 full-year pre-tax profit is
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Active Income Portfolio reaps dividend rewards
The purchase of Henderson Far East Income (HFEL), brought into the active income portfolio last month, might on the face of it seem an odd decision given the stellar performance of some other Asia-Pacific income funds.
The investment trust has managed a 47% return over five years and a 19.7% rise in 2012 to date, but that performance still lags the returns of the sector leaders. Aberdeen Asian Income (AAIF), the sector leader, has returned 132% over five years, while Schroders Oriental Income has achieved 89%.
Both outperform Henderson in terms of the value of their underlying assets. Aberdeen's 70% rise in net asset value (NAV) far exceeds Henderson's 10% NAV rise, as does Schroders' 32%. However, buying top performers trading at a premium to NAV carries its own risks: investors will pay a 4.35% premium for Aberdeen and a 2% premium for Schroders. And while these sector leaders yield under 4%, Henderson brings in more than five.
That income deficit may seem irrelevant in the context of the far superior total return, but it isn't. The danger for market leaders in any fund or trust sector is of a reversion to the mean, something that is particularly likely in fast-changing Asian markets.
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Markets: The week that was 10-14/12/12
The FTSE 100 began the week eking out minor gains, but shares eased down after the US Federal Reserve delivered a further round of quantitative easing.
The FTSE 100 began the week eking out minor gains in the build-up to a Federal Reserve announcement on Wednesday. But it was a case of "buy on the rumour and sell on the news", with shares easing down after the US central bank delivered a further round of quantitative easing.
The FTSE 100 (UKX) started the week at 5914.40.London's blue-chip bourse, after spending the majority of Monday's session down, rallied to push onto positive ground after US markets opened up.
The index had started the week with a dip into the red, as investors' focus shifted back from across the Atlantic and towards the eurozone crisis.
Italy's political wranglings, with Mario Monti signalling his intention to step down as Prime Minister and Silvio Berlusconi once again entering the fray, unnerved the markets.
Smith and Nephew (SN.) came out on top after moving up just shy of 2%. Hargreaves Lansdown (HL.) had a harder time of it, losing 2.7%.
Over on AIM, Mobile Streams (MOS) led the table with a 31% gain, while Supercart (SC.) fell a painful 64%.
Japan may be in recession, revised growth figures released on Monday indicated. The world's third-largest economy shrank by 0.9% in the three months to 30 September, while the previous quarter's figure was revised down from 0.1% growth to a 0.03% contraction.
New World Oil and Gas (NEW) said its chances of discovering commercial oil at its Belize project had "materially increased". An extension to an existing well at the B Crest prospect confirmed the presence of a working hydrocarbon system of 45% to 65% oil saturation.
Investors welcomed the news, as shares in the explorer climbed 4% and the stock became one of the most heavily bought on Interactive Investor.
Monday's close:View the Original article
Viewpoint: US fiscal cliff is a false fear for stocks
The US fiscal cliff battle drags on. Taxes will rise on 1 January - investors fear if a deal isn't reached in time, higher taxes will cause a recession and bear market. It's a false fear, and false fears are always bullish.
First, the "fiscal cliff" is fake. Politicians made it; they can move it. The cliff first loomed in 2010 and politicians, fearful of angry constituents, kicked it past 2012 elections. They can do it again past 2014 - same logic. Even if there's no deal by year-end, they can delay implementation, by a month or two or 17. It's up to them! They did it in 2011 - they delayed the payroll tax holiday expiration by two months to buy time to compromise on a longer extension. These deadlines are political, fake, and can be moved.
And they want to compromise - particularly Democrats. They have 20 Senate seats up for election in 2014 and Republicans just 13. And nine of those seats are in vulnerable states which Democrats took from Republicans in 2008. Those seats can easily flip back. Democrats don't want to face voters angry over taxes.
Even if there's no deal and taxes rise, there's a vast history of tax rate moves in the US, UK and globally and no evidence that rate moves - up or down - are predictive for immediate future economic or market direction. No recession I can find was ever caused by a marginal tax increase. I don't like higher taxes, but not because they cause recessions. Provably, they don't.
How do hikes affect stocks?As for stocks, in the US there have been 27 major income tax rate changes since 1928 - 15 cuts and 12 hikes. (I use the US for its longer data history, but it's the same in the UK and globally.) What did shares do after? Overwhelmingly, no matter whether taxes were cut or hiked, shares rose - 70.4% of the time. After 10 of the cuts, shares were positive 12 months later. Shares fell after just five cuts, which means shares were twice as likely to rise as fall after a tax cut.
That doesn't surprise you. What surprises you is shares were up 12 months following nine tax hikes, but fell after just three hikes, i.e., shares were three times as likely to rise after a tax hike, the opposite of what most think. People automatically assume tax hikes weigh on shares, but history and evidence don't support that. In fact, the reverse!
More amazing are capital gains tax (CGT) moves. Since 1928, there have been six cuts and nine hikes - 87.7% of the time, regardless of CGT rate direction, shares were positive 12 months later. Shares rose, five to one, after CGT cuts, but shares rose eight to one after hikes. Some may view that and form a new myth, believing, perversely, shares like tax increases. No. All it means is shares always and everywhere rise much more than fall over time.
Then, too, tax policy is inherently local and global factors matter much more. Tax rate moves are near meaningless for shares. But the fear is bullish - when expected disaster doesn't arrive, that positive surprise can boost shares, such as pharmaceuticals giant Pfizer (PFE).
Pfizer has a prodigious range of top-notch brand names, and a stream of new products will capture growth from an ageing developed-world demographic, plus new emerging middle classes overseas - all wrapped in a classically cheap stock.
This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
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Mayan Prediction
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Sisyphus in Economics
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Posted on Dec 14, 2012 Pavel Constantin, Cagle Cartoons, Romania
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