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market is still waiting for
STAR CRUISE result
NCL CRUISE result
lifeline03 ( Date: 18-Oct-2010 14:58) Posted:
hi pharoh88,
so does that mean that the price will soar soon or? |
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Monday: 18 OCTOBER 2010 CLOSING
GHOST is haunting the house !
pharoah88 ( Date: 18-Oct-2010 14:50) Posted:
Monday: 18 OCT 2010 morning
market liquidity is extremely low today due to IPO
Only one cherry picker on the good subsidiary 3Q results
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Monday: 18 OCT 2010 CLOSING
READY for S$2.10 BREAKOUT TOMORROW
pharoah88 ( Date: 18-Oct-2010 18:33) Posted:
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Monday: 18 OCTOBER 2010 CLOSING
foundation firming
pharoah88 ( Date: 18-Oct-2010 14:40) Posted:
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Monday: 18 OCTOBER 2010 mOrnIng
nO activity this morning
GENTING SP took a break |
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Monday: 18 OCTOBER 2010 CLOSING
foundation firming
pharoah88 ( Date: 18-Oct-2010 14:40) Posted:
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Monday: 18 OCTOBER 2010 mOrnIng
nO activity this morning
GENTING SP took a break
pharoah88 ( Date: 18-Oct-2010 10:49) Posted:
Monday: 18 OCT 2010 7:10am
Ch 8 Good Morning Singapore
Analyst's Take:
When GENTING SP breaks S$2.10 STRONGLY
it will SURPASS S$2.19 |
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over the last quarter
CHINA and SINGAPORE
had many HFMD cases
even schools were closed for sometime.
Healthway Clinics should be doing well then ? ? ? ?
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Monday: 18 OCT 2010 morning
market liquidity is extremely low today due to IPO
Only one cherry picker on the good subsidiary 3Q results
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Monday: 18 OCTOBER 2010 mOrnIng
nO activity this morning
GENTING SP took a break
pharoah88 ( Date: 18-Oct-2010 10:49) Posted:
Monday: 18 OCT 2010 7:10am
Ch 8 Good Morning Singapore
Analyst's Take:
When GENTING SP breaks S$2.10 STRONGLY
it will SURPASS S$2.19 |
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German multiculturalism has failed: Angela Merkel
POTSDAM
Speaking to a meeting of young members of her Christian Democrats (CDU), Ms Merkel said allowing people of different cultural backgrounds to live side by side without integrating had not worked in a country that is home to some four million Muslims.
“This (multicultural) approach has failed, utterly failed,” Ms Merkel said.
The Chancellor faces pressure from within her CDU to take a tougher line on immigrants who do not show a willingness to adapt to German society and her comments appeared intended to pacify her critics.
She said too little had been required of immigrants in the past and repeated her usual line that they should learn German in order to get by in school and have opportunities on the labour market.
Ms Merkel tried to accommodate both sides of the debate, talking tough on integration but also telling Germans that they must accept that mosques have become part of their landscape.
She said on Saturday that the education of unemployed Germans should take priority over recruiting workers from abroad, while noting Germany could not get by without skilled foreign workers.
In a weekend newspaper interview, her Labour Minister, Ms Ursula von der Leyen, raised the possibility of lowering barriers to entry for some foreign workers in order to fight the lack of skilled workers in Europe’s largest economy.
However, Mr Horst Seehofer, chairman of the Christian Social Union (CSU), the CDU’s sister party, last week rejected any relaxation of immigration laws and said there was no room in Germany for more people from “alien cultures”.
The debate over foreigners in Germany has shifted since former central banker Thilo Sarrazin published a book accusing Muslim immigrants of lowering the intelligence of German society.
Mr Sarrazin was censured for his views. — Germany’s attempt to create a multicultural society has “utterly failed”, Chancellor Angela Merkel said on Saturday, adding fuel to a debate over immigration and Islam polarising her conservative camp.REUTER
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Monday: 18 OCT 2010 7:10am
Ch 8 Good Morning Singapore
Analyst's Take:
When GENTING SP breaks S$2.10 STRONGLY
it will SURPASS S$2.19
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Monday: 18 OCTOBER 2010 8:10am
CNA Market Insights
2010 Year End STI Target
3500
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Monday: 18 OCTOBER 2010 8:10am
CNA Market Insights
2010 Year End STI Target
3500
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IS LIFE INSURANCE an UNethical BUSINESS ? ? ? ?
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WHEN does a WHOLE LIFE INSURANCE POLICY BREAK-EVEN ? ? ? ?
WHY does a WHOLE LIFE INSURANCE POLICY nOt allowed the withdrawal of CASH VALUE ? ? ? ?
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WHY should an insured buy insurance via a BANK instead of DIRECTLY from the underwriting INSURANCE COMPANY ? ? ? ?
WHY should a unit trust investor buy UNIT TRUST via a BANK instead of DIRECTLY from the UNIT TRUST COMPANY ? ? ? ?
Would there DOUBLE COUNTING in GDP for the country ? ? ? ?
THINK THINK THINK THINK ? ? ? ?
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http://articles.moneycentral.msn.com/Insurance/AvoidRipoffs/SpotUnethicalSalesPractices.aspx
Spot unethical sales practices
The era of rampant abuse in the life insurance industry may be over, but policyholders still need to be on guard against fraud and other shady tactics.
By Ginger Applegarth
As the old saying goes, people don't buy life insurance, it's sold. That's not completely true, since most people really do need life insurance to protect the security of their loved ones. But it's in the type of life insurance and how much you buy that the adage rings true. Below are some of the things to watch out for when working with insurance agents. Keep in mind that most insurance agents are helpful and professional and that those who engage unethical practices are very much in the minority.
Consumers had very good reason to fear some agents and some companies in the 1980s and early '90s because of rampant fraud and abuse. But now the tables have turned and the insurance companies are the ones running scared.
 Video: Get your insurance claims paid
Life insurance as an investment In the late 1970s, insurance regulatory changes and high interest rates drove companies to develop new "investment-related" products such as universal life insurance. Agents started to sell life insurance as an investment. Policyholders began to consider permanent life insurance products as part of their investment portfolios.
Additionally, the advent of computer software led some companies to aggressively distribute insurance illustration software based on questionable assumptions, such as interest rates of up to 13% or 14% throughout the policy's life. Other companies figured out a way to override the maximum assumed interest rate and plug in their own numbers of as much as 19%. If the software would not allow this override, an agent sometimes would pay to have a simple spreadsheet program of his own developed for use in marketing permanent life insurance policies.
The 'vanishing' premium With these assumed high interest rates, the projections showed that the premiums would "vanish" in as little as four or five years. Normally premiums vanish because the dividends (if it's a whole life policy) or interest (in the case of universal life) are enough to keep the policy in force by paying the premiums from the cash buildup.
This is especially true for universal life insurance, because unlike whole life insurance (which has a fixed premium), a person could pay less than the recommended premium -- sometimes even skipping a year.
Many agents aggressively marketed this vanishing premium (or "premium offset") method of paying for insurance.
There is nothing wrong with the vanishing premium concept, provided that a reasonable interest rate of 5% to 6% is used in the illustration as the assumed dividend rate. Under this analysis, the premium might vanish after 15 years or so.
But because the interest rate assumptions were unreasonable, what happened was disastrous: As actual interest rates dropped, premiums did not vanish. Instead, they continued to increase for a decade or longer.
Even worse, some policyholders found that their vanishing premiums had suddenly "reappeared," and, in some cases, those premiums were more than the policyholders could afford.
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http://www.scam.com/showthread.php?t=115360
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MLM is a Godsend
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Join Date: Feb 2009
Location: Michigan
Posts: 22
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Whole Life Insurance is a scam!
Hey i wanted to post something as a scam (my first thread!) YEAAAHHH. And what better to post than the worst possible way to be insured on your life. I will list the 5 biggest reasons its a huge rip-off for the amount of money you spend!!! If you dont know about whole life (cash Value) Insurance, you might have been sold on it because they claim it has an "investment" feature and it "builds cash value" Well it does.... for the insurance company. The average rate of return the banks and insurance companies are getting is about 12% (S&P 500 over any continual period of 30 years has averaged 12.94%) so just remember this. So to begin: 1. Your "Cash Value" Doesnt begin to grow for the first 0-3 years. With this type of ins, you are guaranteed nothing up to the first 3 years... not the best investment. 2. You will only earn 1-4% interest on your money, even though i said above what the ins. companies are getting back with your money  3. When and if you have any cash value built up in your policy - They say its "your cash or your money" But if you ever want to take it out to use it since its yours, its considered a loan against the policy. What do loans come with - interest - at 6-8%. So you earn 1-4% and when you want to use whats yours, they charge u 6-8% to use it...again this is a great policy. 4. If you would ever need to use this cash value, the insurance companies have a right to hold that money and not release it to you for up to 6 months. Say the market is booming and they are making great returns, they will hold your money as long as they can to yeild THEM the best profits. 5. You only get Option A or Option B. To explain this: when you buy a whole life policy you have a face value (death benefit amount) and you build cash value the longer you pay into it, normally till age 100. So when you die... if you have a $50,000 face value policy with $30,000 of cash value built up in it, you get one or the other, option A or option B. Where does the other money go? Where do u think. |
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http://www.badfaithinsurance.org/reference/Life/L0459a.htm
By Mark Colbert
Expert Consultant, Life Insurance Company Fraud
Email: mark@markcolbert.com FAQs
Of all types of life insurance, it's Universal Life which provides its policy owners with the highest degree of flexibility. Unfortunately, many of those seemingly loyal, trustworthy agents have found ways to "twist" that flexibility around for their own benefit.
Let's review the Universal Life concept:
One of the products that has developed within the last twenty years in the life insurance industry is Universal Life. Although really just a generic or general name, Universal Life, is used to refer to a number of products which have been developed around certain fundemental insurance principles, but have a different look to the buyer and new flexibilities.
Universal life is a continuation of the same insurance principles, only the packaging is truly different. But remember, it's still life insurance.
Universal Life is a flexible premium product. Except for the first year, (in some cases two) no minimum annual premium must be paid by the policyowner to keep the policy in force. The premium is the amount paid by the insured for that year. Different amounts can be paid into this policy each year. However, there are certain rules and restrictions for large premiums as well as for the cash value needed for the policy to stay in force.
Except in year one, the premiums for a universal life policy can be zero, level or change each and every year.
Universal Life is an adjustable type of insurance policy. The death benefit coverage of a universal life policy can usually be changed without having to issue a new policy. The original face value, called the specified amount, can be increased with evidence of insurability. The death benefit can be decreased simply by a partial surrender. Premium changes only impact the cash value accumulations and thus need not be dated back to inception of the policy.
That cash value growth is based upon current interest assumptions which can be changed periodically as long as the policy remains in force. The U/L policy is designed to allow and accommodate change.
When a Universal Life policy is issued, the insurer frequently quotes a "target" premium, a recommended level annual premium amount that, if paid by the policyowner, may be sufficient to keep the policy in force throughout its lifetime. However, the amount is not guaranteed by insurer, so that the target premium may or may not be adequate to actually accomplish this.
The policyowner may also pay the minimum premium, which would be the amount needed to keep the policy in force for the current year. Paying the minimum premium causes the policy to perform as if it were a yearly renewable term and not a permanent product.
Some companies to offer secondary guarantees related to the target premiums they quote. Under these guarantees, the insurer will agree to keep the policy in force for a specified period of time, such as 15 or 20 years, as long as the insured pays that target premium during the recommended period of time.
Think of a U/L policy's cash value or accumulation fund as a place to put the extra money when the insured is over-charged for his/her policy each and every month. It's basically a savings account strapped onto an increasing term policy. The money in this account earns interest and is made available to the policy owner at any time. When/if future premiums are not sufficiently paid, the policy literally "borrows" from itself to make that unpaid premium payment.
FREQUENTLY ASKED QUESTIONS.
"My agent told me that if I would pay more for the first year-or-so, my payments could be reduced and the policy value would never be affected."
If the higher or "target" premium is paid for some time, the accumulation fund will increase and this money can be used to pay future premiums. But in a few years when the term costs escalate, there won't be enough money in the accumulation fund to supplement your payment and the policy will lapse with no value. I've heard these called "Power Term" policies because they are usually less expensive than Yearly Renewable or Level Term plans. This is usually a bad idea for someone who wants to have insurance later in life. Furthermore, agents are paid commissions on the higher or "first year" amount and will have usually left the company (or been promoted) by the time you find out the truth.
"My agent told me that I could use the money from another policy to pay-up my policy."
Let's assume that your agent took $20,000 from an old policy and front-loaded it directly into your new U/L policy's accumulation fund. Let's further assume that he/she "forgot" to mention that your annually increasing cost of insurance is really $2000. Sure, the accumulation fund is earning interest, but there's no way it can keep up and your policy will lapse in just a few years with absolutely no value.
"My agent told me that I could lower my U/L premium payment so that I could afford to buy coverage for my spouse. In a few years, their policy will be paid-up and I can once again apply the extra money to my policy."
Yes, this actually happens and can be both Vanishing Premium and Premium Misdirection Fraud.
First of all, the chances of a policy becoming "paid-up" in less than 13 - 15 years are extremely thin. Secondly, lowering the premiums going into the first policy may irreparability harm it, leaving you both looking for new insurance policies and a way to recover thousands of dollars in lost premiums.
"I want to have a life insurance policy until I die - whenever that may be. How can I tell if I'm paying enough money into my policy to accomplish this?"
Great question. Life Insurance companies are supposed to send their U/L policyowners an Annual Statement or Summary of Value each and every year the policy remains in force. If they don't, there could be a problem. Nevertheless, the policyowner should become familiar with these documents and review them carefully. In the past, some people have just put these away and forgotten about them until a problem arose and they were forced to dig them out again. By then, any hope of recovery had usually passed.
If you suspect you have a problem with a policy, it may very well be in your best interest to contact someone OTHER than the agent who sold you the policy. When I contact agents directly for help on issues relating to one of their policyowners, I am astounded when they deny ever having written such a "horrible" policy and try to place the blame on another agent. Even though their signature is on the documents at the back of the policy and they have been formally named as the agent of record, they know nothing about it.
"I have a wonderful agent who is a pillar in the community or has come highly recommended by my friends."
That's great! It sounds like you found one of the good ones. Remember this though: In the last 5 years, experts (including myself) have identified well over 23 million potential victims of Life Insurance Fraud in the United States. If you are counting on a policy for your family's security after you're gone, "rolling the dice" may not be in their best interest.
"My agent told me that I could borrow money from my cash value at any time and that it wouldn't hurt my policy."
It usually won't - right away. Did the agent also tell you that you were borrowing the money out at an 8% interest rate? Or that if you died before the money was replaced, the amount of the loan - plus interest would be deducted from the death benefit?
Remember that when a "target" premium is calculated, it is usually based on interest rates that are not guaranteed and the assumption that premiums will ALWAYS be paid. Using formulas like the time value of money and rules of compounding interest, your policy's future can be calculated. Based on these illustrations, if ANYTHING changes; interest rates, money market funds, your premium or the future earning potential of your cash value account, then your policy will change. Maybe not very much at first, but eventually it will. Please don't end up as one of the senior citizens who get an enormous bill from their insurance company and have to forfeit their coverage because they were not given all the information they should have.
"The cash value in my life insurance is tied up in mutual funds or the stock market and my agent tells me that's where it'll make us the most money."
LIFE INSURANCE IS AT BEST, A POOR INVESTMENT VEHICLE AND SHOULDN'T BE CONFUSED WITH REAL INVESTMENT PRODUCTS. IN MY OPINION, A LIFE INSURANCE POLICY HAS BUT ONE PURPOSE; THAT IS TO PROVIDE YOUR BENEFICIARY WITH A CHECK WHEN YOUR HEART STOPS BEATING - THAT'S IT.
Somebody mark my words, "Variable Insurance Fraud is the very next time bomb waiting to go off." Within the last two years I have had intelligent policyowners tell me, "My agent told me that our money is somehow tied into the Stock Market and if nothing changes for the next 30 years, we'll be millionaires." Does anyone realize how hard it is to respond to a statement like that with a straight face? When is the very last time the Stock Market remained unchanged for 30 minutes - much less 30 years? Granted, there are those who can use the laws of averages to show a stable market or even one with a steady incline, but these are the very same people who will profit by your decision to spend money long before you do.
Copyright © 2005 by FBIC (www.badfaithinsurance.org)
Click here to return to our homepageUnderfunded Policies - Rolling the dice with Universal Life
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LIFE INSURANCE FRAUDS
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ENDED 30 SEPTEMBER 2010
This announcement is made by Genting Hong Kong Limited ("Genting HK") pursuant to rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited to provide shareholders of Genting HK with the unaudited consolidated financial results of Travellers International Hotel Group, Inc. ("Travellers") and subsidiaries for the nine months ended 30 September 2010. Travellers is a 50% associated company of Genting HK. Travellers will issue a quarterly report announcing its unaudited consolidated financial information as at and for the nine months ended 30 September 2010 ("3Q 2010 Financial Information") and will furnish the same to the Philippine Securities and Exchange Commission on or around 14 October 2010.
The following is an extract of the unaudited consolidated financial results of Travellers from its 3Q 2010 Financial Information which is prepared in accordance with the Philippine Accounting Standard (PAS) 34, Interim Financial Reporting and in Philippine Pesos.
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2010 AND 2009 TRAVELLERS INTERNATIONAL HOTEL GROUP, INC. AND SUBSIDIARIES
(Amounts in Philippine Pesos)
(UNAUDITED)
2010
2009
REVENUES
Gaming
P 9,764,173,032
P 269,484,219
Hotel, food, beverage and others
963,877,872
13,851,047
10,728,050,904
283,335,266
Less: Promotional allowance
499,433,684
9,465,968
10,228,617,220
273,869,298
DIRECT COSTS
3,332,560,983
160,413,278
GROSS PROFIT
6,896,056,237
113,456,020
OTHER OPERATING EXPENSES (INCOME)
General and administrative expenses
4,456,830,575
223,324,071
Development costs
-
308,597,550
Other operating income
(103,299,957)
(9,736,025)
4,353,530,618
522,185,596 |
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2010
2010
2009
OPERATING PROFIT (LOSS)
2,542,525,619
(408,729,576)
OTHER INCOME (CHARGES)
Finance costs
(174,141,167)
(24,460,090)
Finance income
117,142,775
134,703,709
(56,998,392)
110,243,619
PROFIT (LOSS) BEFORE TAX
2,485,527,227
(298,485,957)
TAX EXPENSE
23,358,945
2,741,120
PROFIT (LOSS) FOR THE PERIOD
2,462,168,282
(301,227,077)
OTHER COMPREHENSIVE INCOME
-
-
TOTAL COMPREHENSIVE INCOME (LOSS) FOR THE PERIOD
P 2,462,168,282 *2010 - 9 months*
(P 301,227,077) #2009 - 9 months# |
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