Womens Credit Center Blog

DaimlerChrysler Is Committed Ex-FBI Chief As Reconnaissance

admin — Fri, 22 Aug 2008 19:53:11 +0000

Not only Siemens is trying its Schmiergeldaffäre to grips with. DaimlerChrysler is also under pressure because of corruption - especially in the United States. Now an external consultant with the Enlightenment and to assist the authorities mild vote: Ex-FBI Chief Freeh.
Detroit - He is regarded as a specialist in difficult cases. Since his retirement as director of the U.S. federal police in 2001, FBI Louis Freeh works as a lawyer for the Gavel Consulting Group, based on the advice of companies specializing in the target of the authorities advised. Freeh also be one internal investigations at DaimlerChrysler forward, but also the interests of the outside world.
AP
DaimlerChrysler cars of the Jeep brand: Incorrect payments in Africa, Asia and Eastern Europe Two years ago the U.S.
Securities and Exchange Commission SEC investigations against on the New York Stock Exchange
Group recorded for failing managers in more than a dozen
Countries have paid bribes. It also involves the
Unregelmßigkeiten tax payments for expatriate
Employees.
In March, the prosecutor Stuttgart
Investigative proceedings for supplies of Unregelmßigkeiten
Vehicles to Poland, Belgium and Ghana at. In addition, the Group acknowledged internal investigations had revealed
that, especially in Africa, Asia and Eastern Europe unsachgemße payments
done. More than a dozen executives were in the
Anti-corruption investigations on leave or dismissed.
opposite the "Wall Street Journal said DaimlerChrysler spokesman Han Tjan Freehs independence. "We try very concerned about educating the incidents," said Han. For one grßten attach importance to high ethical standards.
But the understanding with the authorities played at the commissioning Freehs an equally important role. Mild vote should particular, the U.S. Securities and Exchange Commission SEC.
Overall, the automobile manufacturer paid so far 16 million U.S. dollars in fines. And the membership of the anti-corruption organization Transparency International has suspended - a similar exclusion as in the case of the Siemens group is not excluded. mik / Reuters

Thousands Of Miners Fear For Their Jobs

admin — Thu, 21 Aug 2008 22:20:02 +0000

The first time, could lead to mass redundancies in the German coal mining. In the dispute over government subsidies for Deutsche Steinkohle AG harden the fronts. While SPD chief Beck for a progress payment calls, will NRW Prime Minister Rüttgers the exit.
Dusseldorf - According to information of the Newspaper exceeded the cost of RAG subsidiary Deutsche Steinkohle AG (DSK) last year approved the subsidies by 163 million euros. DSK-CEO Bernd Tönjes have before the end of the closure of a mine can not be ruled out if the amount is not balanced. This would have the dismissal of up to 3000 employees.
DDP
coal miners in Essen: Fears for subsidies DSK chief Bern Tönjes the figures have already joined the German Economics Ministry. By 2012 were also more coverage gaps to be expected, which stands at up to 2.5 billion sum. The federal government wants to finance only offset holes when it comes to a decision to exit from the promotion of coal come.
RAG spokeswoman wanted to comment on the above figures do not express. "The economic situation in our mining subsidiary DSK makes us very worried," she said the news agency dpa. The situation was "very seriously". For the beginning of February was an extraordinary supervisory board meeting at the DSK, in which the consequences to speak.
The German Economics Ministry, the financial problems serene than the RAG. "I can only liability to the association (between parent and subsidiary company) and point out that the liquidity situation of the mother is good," said a ministry spokesman. A RAG spokesman said, the Ministry do with this expression "the finger in the wound". This will clearly that the current group model "already in the short term, no longer work." It was a key decision on the future of the mining industry urgently needed.
Because of the dispute over the mining subsidies is also the planned initial public offering of RAG on ice. RAG CEO Werner Mueller, the divisions chemistry, energy and real estate in June 2007 on the stock market. The proceeds will be follow-up costs of mining finance. Without an agreement, and thus threaten the financial clarity Group incalculable risks.
But the dispute over an end to coal subsidies seem to harden the fronts. While SPD leaders today at the Bochum national party again obtaining the coal mining industry called the NRW dismissed Prime Minister Jürgen Rüttgers (CDU) of this notion rigorously. The desired initial public offering of RAG AG had only one end together with the coal mining industry to have Rüttgers said the New Year's reception of the CDU in North Rhine-Westphalia Dusseldorf.
of the SPD base mining is required under EU law inadmissible, underlined Rüttgers. "This is the legal situation. And who says something else, is deceiving the people." At the end of January would have the necessary decisions to end coal subsidies are taken. Otherwise, the 100,000 jobs the RAG Group in danger.
Beck said the exit plans of the provincial governments of North Rhine-Westphalia and Saarland a "blind alley". The SPD will continue to use the decision to open a base to keep mining, he said in Bochum. Vice Chancellor Franz Muentefering (SPD) described the coal as a viable industry. "We would bescheuert if we are in a historical situation to say goodbye," he said.
SPD opposition leader Hannelore attested to the power black-yellow state government lack of expertise. The CDU / FDP coalition assume RAG hostage to the phasing out of coal durchzuboxen. The SPD will try to explain their demand for a permanent coal base note stressed. "Coal is the world's future and not past."
DER Newspaper cites in his report to an internal memo from the Federal Ministry of Finance, after which the federal subsidies by 2012 as much as 2.5 billion euros must increase in order to avoid compulsory redundancies. Economics Minister Michael Glos (CSU), with Finance Minister Peer Steinbrück (SPD) agreed that the additional funds should only exist if the DSK its mining activities until 2018 stops completely, it noted.
end of the month will the coalition committee again in Berlin on the future of coal advice. The North Rhine-Westphalia state government and the CDU, the coal subsidies 2018 at the latest. For them, this is a prerequisite to allowing the RAG Group on the stock market can go. The SPD calls for a mining base for at least three coal mines long-term supply. The black-yellow coalition has threatened by North Rhine-Westphalia paid subsidies cease if no decision in Berlin for the exit. BOR / dpa / Reuters

"The Chinese Do Not Get To The Series"

admin — Thu, 21 Aug 2008 22:19:37 +0000

By Tim Hoff Höfing Nike & Co. produce in Asia - the Hamburg sports shoe dealer Lars and Ulf lungs rather build a factory in Mecklenburg-Western Pomerania. The higher wages in Germany, by discouraging. Because they have had enough of jerky quality from the Far East.
Düssin - Mario Renk is still a bit incredulous before the shield, which it on the lawn in front of his house in the ground planted. "Reconstruction and Redevelopment Kuhstalles as a running shoe factory" is it. Renk is still well suited to the mood in the town remember when suddenly there was sign. "Everyone thought: This is unusual. Shoes but come from Asia."
Düssin Meanwhile, in anticipation of the surprise diminished. In the village in the south-west of Mecklenburg-Western Pomerania, "the former grßte cowshed in Germany" aufgemöbelt. In the brick from 2007 to be at least 15,000 running shoes per year. Only times in a small series - but Made in Mecklenburg. Larslung, 40, it can not even grasp what he is here with his brother Ulf, 45, who launched it. "It took a fancy to see that there is a shoe factory," he says, "that the production hall": With Zwick and sewing machines and the large tables, in which employees new running shoes together. End of the year everything will be ready. At the top of the first floor, where Lars lung his office building will remain to feed the old machines.
jogging shoes from the eastern province: This is not just for the residents get used to it. In the globalised economic cycle Asians have made the race when it comes to the production of running shoes. Whether jogging, soccer games or walking: Almost all shoe factories of Nike, Asics, Puma & Co. are in countries such as China, Vietnam and Indonesia. And no expensive in Germany. Only Adidas produces some football shoes.
The lungbrothers are convinced that the time is ripe for its factory. Six sports shoe stores in Hamburg and Berlin have them there, they want to continue running shoes also sell other brands. Ulf lungs, the chain founded 27 years ago, now has 30 employees and makes three million euro turnover, but "its own production - that was always our dream". "I will no longer" For so farLunges nobody was able to deliver, which they rightly happy. "When I once again a container packed, I thought: I will no longer," says Lars lungs. The quality of shoes from South Korea was poor, and since the Lunges in Asia could develop and produce, there was trouble because of ideas Klaus. "This is terrible," says Lars lungs. More and more often had their ideas emerged in Asian competitors.
The commitment ofLunges is in year 17 of the German unit is part of the building East: Ten new jobs, they want to create, then we should have 30. If it really goes well, maybe the 100th
6000 square meters, the three-storey building. In the middle stands a small tower indicate the Hamburg Michel copied. The listed cowshed is a powerful look at Fang Düssin - just behind the railway line, where the ICE from Berlin to Hamburg vorbeirauscht. Such a building in a city like Hamburg to buy would have been prohibitive, says Ulf lungs. In Mecklenburg-Western Pomerania, however, there are funds and agencies involved in the two entrepreneurs to put stuff. "There is a good support," said Ulf lungs. All the basic materials from Germany The brothers are fully on German craftsmanship: leather, nylon - all basic materials for the lung-running shoes will be provided from the domestic. "The German quality is much better," says Lars lungs. "The Chinese do not get to the series."
The high wages in Germany, by discouraging. You want to succeed as a niche provider. With Asian mass-produced, they can not compete anyway, know the Lunges. "Our products are priced higher," says Ulf lungs - but with less wear and better skin. On average jogger would be here for 120 euros a shoe issue. The lung shoes will cost about 180. "Our shoes, but from 2000 to 3000 km, and not just the 1000th"
Lunges trust at the end of the greed-is-cool-euphoria, at least in terms of running shoes are concerned. Three million running shoes were here a year on the table, expect the entrepreneurs. In its price class is about one million shoes. In this market, they want to occupy a lucrative niche.
Great marketing expenses such as Nike, Adidas and Puma have not Lunges. They rely on a small collection with no minimum quantities for the dealer. This allows even small shoe-series and flottes reaction from the idea of a shoe to the first model should not exceed one week pass. Until the extradition should be only one month. "So we want to beat the other."
residents such as Mario Renk hope that the idea of Lunges success. In the village there is finally enough to renovate: If it with the cowshed are ready, they could "immediately afterwards with the old water tower continue," he says.

SPD Wulffs Requires Withdrawal From VW Supervisory Board

admin — Thu, 21 Aug 2008 22:18:25 +0000

After the Board has now also the Supervisory Board of Volkswagen a personnel issue. Lower Saxony's SPD calls by Prime Minister Wulff to withdraw from the body. This had even called human consequences - supervisory board chief Piech should go.
Hamburg - The opposition in the Lower Saxony state parliament calls for the withdrawal of Prime Minister Christian Wulff (CDU) from the VW supervisory board. The interests of the country threatened "under the wheels to come" because the Prime Minister to behave unprofessional, said SPD chief Wolfgang Jüttner the "Hannoversche Allgemeine Zeitung Chen." Wulff had at VW to employers and employees alike "completely isolated".
DDP
Wulff (left), Piech, who remains on the supervisory board, who should go? The reason for Jüttners thrust is Wulffs renewed demand from the weekend that VW supervisory board chief Ferdinand Piech 2007 from this office should withdraw. Wulff also spoke out indirectly against Porsche boss Wendelin Wiedeking as the ultimate overseer VW.
Jüttner especially criticized the timing of the remarks. During Wulff an end to the debate call staff, fold it themselves anew. Wulffs conflict with Piech was obviously personally motivated. So the group could not in calmer waters. The SPD politician was open to who the country instead of the prime minister represented at VW. "That must be one, which efficiently and rationally to the topic rangeht," says Jüttner. KAZ / ddp / AP

Italians Call For Boycott On Ikea

admin — Thu, 21 Aug 2008 22:17:13 +0000

Bock straw "Isig" garland "Glänsa" and not Jesus far and wide: The Swedish furniture store Ikea has vorweihnachtlichen range with his criticism of some conservative Italians eingehandelt. Politicians called for a boycott.
Rome - Two conservative senators asked the fellow countrymen in the Catholic country to master, the twelve Italian Ikea stores to avoid them. Senator Alfredo Mantovano of the National Alliance and his colleague Gaetano Quagliariello of the Forza Italia see Ikeas gap in the range of Christmas even as the expression of "anti-Catholic prejudices." Even small Zen gardens "there on the shelves from Ikea, they declared. Christmas figures with Jesus in the manger, however, we search in vain.
Ikea dismissed the allegations immediately. You do not have a "religious prejudices," said the spokesman for Ikea Italy. The company now vertreibe typical Scandinavian products such as "Fleischklöpse and herring", as well as decorative items for the Christmas tree. Cribs were, however, than an expression of a "Southern tradition", the spokesman defended himself. Unbeirrt of the boycott call will Ikea next year its 13rd Open branch in Italy. Reh / Reuters

Mr. Exchange Starts

admin — Thu, 21 Aug 2008 22:16:01 +0000

Stocks, IPOs, shareholder value - the ABC of investment in Germany was a rather brittle matter until Frank Lehmann in the ARD the theme adopted. Today moderated the journalist for the last time the stock market in the First ".
Frankfurt - "Current, profound and then with a nicely packaged Schleifchen" informed "Mister Market" traditionally aktienmuffeligen shortly before the Germans' Daily Show "on the latest news from the market. It adopted the stock market entertainer in retirement.
DPA
ARD Securities and Exchange chief Lehmann: Geduldiger teachers in stock The lively spells for his well-known native Berlin, the farewell from the trading floor visibly difficult: "There is already a Wehmutstropfen in the eye," he acknowledges. The stock market in the First "was finally his baby. On the other hand: "The Dax is now beautiful high. And if it is at its best, should we cede yes."
money and stock market issues for Lehmann were always more passion as a compulsory program. All the more remarkable is the patience with which he is less interested in the topics to bring to the attempt. Countless questions, but even more the wise-intentioned comments and contributions had taught him that the knowledge of the Germans in this area - expressed cautious - very limited. "The Germans have to be really as financial alphabets call," he says, is also a strong need for security true: "The German needs braces and belts."
The problemgrßte investments in shares of German citizens, the business economist studied with the sonorous voice, is that the people "in the long-term investment not think. The investor wants quick success". The evidence that the New Economy hype of the late nineties. Companies of all kinds - even questionable - pushed to the exchange and the fresh shares were pricing them to dream ripped from the hands. For Lehmann was, as well as the inevitable bursting of the New Economy bubble, the most impressive during its activity.
"greed eats brain," says Lehmann the experience this time in his own way flapsigen. But he self admits that some media representatives "as Megaphone contributed to this trend, the word rarely risk in the mouth." The bitter experience that many investors did then, the shares had Scheu in Germany.
But not all of them were poor in the stock market, some more frequent also a lot of money, as Lehmann knows. In so doing, he learned that his favorite quote is not just a slogan, but true, tells the journalist: "wealth is a heart faster than shipping water boiling an egg."
The secondtheorem in stock and cash, like Lehmann cited, comes from the stock market guru André Kostolany: "I can not tell you how to get rich quickly. But I can tell you how fast you are poor, if you do try to become rich quickly. " The fact that many investors on the Stock Exchange "Yeah, fled Mark want to make, as in the casino", as Lehmann has also experienced. The close of the financial metropolis Frankfurt stock exchange expert living is often approached by spectators and written. "Even in the car park people come to me and say: 'Mr. Lehmann, they have not even a tip for me?" Or they write: "I have 50,000 euros inherited, what should I do?" His recommendation is to seek independent advice. He himself is no tips, in this or that stock investing.
Even if the stock Entertainer "in the First Exchange" leaves - a reunion could there be, as Lehmann says: Conceivably, a television, for example in the four-week cycle, in accordance with the motto: investors ask, Lehmann answered. The decision could be the end of January next year. But he is no tips for investing in certain values, but as usual "fundamental things or even explain historical relationships."
addition to a few lectures on investment Lehmann will also volunteers involved in the Protestant church, for instance, or in the Children's Aid Foundation. You may appear one day also an economic textbook for children of Lehmann, betrayed the Spe retired in the Frankfurter Allgemeine Sonntagszeitung newspaper. " By Antje Homburger, AP

"Ebay Of Money"

admin — Thu, 21 Aug 2008 22:14:51 +0000

By Gregory Honsel
A new type of monetary award conquered the Internet: The British manufacturer Zopa anyone can be a banker and loans from private to private. Are there any similar deals soon in Germany?
Who would have on the Internet completely unknown people borrow money? Perhaps as many people as now with strangers complete transactions via websites. This consideration is based on the business model of the British company Zopa Ltd.. — And is actually pleased popularity. In the one and a half years of its existence Zopa in the UK has more than 90,000 registered members found the case so far, several million pounds on this platform encrypts and borrowed. The market entry into the United States, according to the company "pretty soon". And in Germany could a similar offer soon launch his venture.
Zopa website: A breach beaten Zopa is more than just another online bank. Journalists and analysts like to speak of "Ebay of money". It is based on the peer-to-peer principle, the exchange of equals to the same, with companies such as Napster, the music industry already fear taught. The principle is simple: Who wants to lend money, reports on the website zopa.com and announced how much it for what period under what conditions to make available. Who needs a loan, indicates how much money he needed for how long and what interest he is prepared to pay. The rest regulates the market: supply and demand votes agree Zopa gives the deal. If someone high interest rates, it remains sitting on the money.
The main advantage for users on both sides of the rental business: Between them there is no traditional bank, with a maximum difference between debit and credit interest income balance their own attempts. Zopa requires lenders instead of pants and a placement fee of 0.5 percent each of the awarded amount. The bottom line, the conditions favourable for both parties than for ordinary banks. To pay some top debtor in Zopa for a sum of 8000 pounds over three years, including agency fees 5.1 percent interest. The cheapest normal banks would be a shiny half a percentage point more directly. No Deposit Guarantee Fund for loans addition, the system of Zopa flexible and transparent. It amounts between ten and 25,000 pounds up or delivered. Target group, for example, people with strongly fluctuating income. "There are many people who are creditworthy, but no regelmßiges income, and therefore easy for many banks by the credit check fall," says Zopa founder Richard Duvall. The shadow side of the Zopa model: There is no deposit guarantee fund, which protects the loans - each creditor wears his own risk of default But Zopa has a number of safeguards built, to prevent Wild West manners among users erupt. The company itself is subject to banking supervision. It checks - like a conventional bank - the creditworthiness of the recipient and inform them accordingly in terms of A + to C, where C is still liable for serious. If someone is rated poor or can not identify, he will not be admitted as a member. Should someone not back his credit, instructed Zopa a debt collection companies. In addition, Zopa provides insurance against loss of payment.
But the crucial trick is that each loan will be split into. Does someone 500 pounds, the sum of up to 50 instalments to ten pounds in hand. In this way keeps the risk of default within limits. Zopa even quantified the proportion of bad loans to 0.05 percent, even after initially with 1.3 percent.
for banks is the prospect that future financial transactions over the Internet to perk them could pass alarming - should think. In fact, they, at least in Germany, unimpressed: "We know the product, we can not review and comment on something fundamentally not," says Thomas Schlueter, spokesman for the Federal Association of German Banks. Zopa send debt collection companies backing gives him the German Law on Credit (KWG). The legal situation is complex. Although the operator needs a platform like Zopa, according to the Federal Financial Supervisory Service (Bafin) no banking licence, but only one licence. However, each individual creditors, the money "gewerbsmßig" awards, permit, it says to the Authority. And a gewerbsmßiger rental is already a given that someone repeatedly and with the intent to profit, offering loans. The platform operators would also indirectly involved in illicit transactions and should focus on appropriate consequences.
Is this the death knell for Zopa-a similar model in Germany? Carsten Hinze of the consultancy Future Management Group is convinced that the last word has not yet spoken: "I have valid information that is a completely bankfremdes German company very much for this business model interested." How exactly the hurdle of the German Banking Act will be taken around by an act from abroad following the example of the Internet pharmacy DocMorris, it gives no information Hinze. One, however, is clear: companies like Zopa suggest a breach in the notes covered Claims of credit institutions. "Banks should not be too much to trust that the Banking Act to protect life," warns Hinze. ©
Technology Review ,
Heise Zeitschriften Verlag, Hanover

There MAN Bid For Scania From

admin — Thu, 21 Aug 2008 21:56:58 +0000

The truck and engineering group MAN with Ernst makes his announcement, the Swedish truck manufacturer Scania to Not even against the will of management. Today, the Munich an official offer.
Munich / Stockholm - The deadline for the 10.3 billion euro offer serious start on 20 November and end on 11 December, told a MAN spokesman in Munich. In Stockholm, Scania responded both itself and the local grßte shareholder Investor immediately hostile.
DDP
Scania truck: Negative stance unchanged Scania spokeswoman Cecilia Edström said the offer contained no changes to the current method. This was the Supervisory Board of Scanias already been rejected. An Investor spokesman said, as before the takeover offer spiegele not "the real value of Scania wider." The previous negative attitude was unchanged.
investor is zweitgrßter shareholders in the Swedish truck and bus manufacturers to Volkswagen. As crucial for the further progress of the MAN-Scania takeover plans, a VW supervisory board meeting tomorrow on Friday. Volkswagen, MAN chief Håkan Samuelsson's own Scania shares only if promised that the Munich company Investor shares with 20.01 percent of voting shares. This case is now a settlement will not have occurred.
The decision of the EU Commission on the admissibility of the planned takeover, with the MAN to grßten truck manufacturers in Europe will rise, for 6 December. "This combination will strengthen both companies - in Sweden as well as in Germany," said Samuelsson. mik / dpa

What Changes In 2007

admin — Thu, 21 Aug 2008 21:06:13 +0000

The Treasury invites citizens from next year even stronger than before to pay, social security contributions remains the bottom line, however, a relief: A whole series of changes made by the grand coalition have been decided, shall take effect on 1 January in power - Newspaper ONLINE gives an overview. VAT: It rises to the turn of the year by three percentage points to 19 percent. Despite the higher tax revenue, the federal government an amendment to this grßten tax increase so far in the history of the Federal Republic rejected. Many stores increased in advance of the tax increase their prices. Contributions: The pension contribution from January although rising from 19.5 to 19.9 percent, the health insurance contribution by about 0.5 percentage points. Some funds have even higher premium increases in sight. In the unemployment insurance contributions but drops from 6.5 to 4.2 percent. Commuters package: The commuter allowance amounting to 30 cents per kilometre is only from 21 Steuermindernd km. For distances up to 20 kilometres between home and work on the other hand, they can no longer be claimed. Savers allowance: The allowance fell from 1370 euros for singles and married euros for 2740 to 750 euros and 1500 euros. Up to this limit will remain capital income as interest and dividends tax-free. Study: The study in their own four walls will only be fiscally considered if the "centre of all operational and professional activity". This can, for example, teachers their domestic work rooms no longer sell. Reichenberger tax on private income over 250,000 euros for singles and 500,000 euros for married couples is a surcharge of three percentage points above the top tax rate of 42 percent levied. Income from business enterprises or self-employment are excluded. Parents money: parents, there is money for children, from 1 January born. It is the core period of twelve months paid if the mother or father from working out to get the baby to care. Two additional months coming, even if the partner time for the child and takes his professional activity reduces or suspends. 67 percent of the previous net monthly income will be replaced - but will be given a ceiling of 1800 per month. At least 300 euros to be paid. Child benefit: the future only until the age of 25 instead of 27 years, the child allowance is paid. The scheme affects especially for parents whose children for a longer training - for example, a study - completed. mik / AFP

Inflation Rises To 1281.1 Percent

admin — Thu, 21 Aug 2008 20:30:33 +0000

In the European Union is an inflation of two percent as worrying. But in Zimbabwe, people can only dream of it: You need for the things of everyday life almost thirteen times as much pay as a year ago.
Harare - Inflation in South African state Zimbabwe is in December at 1281.1 percent. The Statistical Office said the country. In the previous month inflation was still at 1098.8 percent.
AP
President Robert Mugabe: Critics maintain its economic policy of the cause of high inflation Critics of the price increase - it is the world's highest - on the economic policies of President Robert Mugabe, the Zimbabwe since independence from Britain 1980. Unemployment in the country is above 80 percent, food is rationed. With November to December increased prices by 36.1 percent.
workers from the country to respond to the strong protests with inflation. Recently, a strike of doctors public health standstill. The doctors are calling for a salary increase of 8000 percent. Even employees of the electricity works were on strike.
The government hasinflation now the main enemy of the country. By the end of the year to be 350 to 400 percent. The International Monetary Fund, on the other hand assumes that inflation will accelerate further. Wal / Reuters