On Du-BAN-i, the new Gulf Emirate formerly known as Dubai. The party is over

Can’t stay away from the news these days, can you? A friend sends me a message forwarded to her from Dubai. She looked into moving down there as a Retail Manager for a fashion house down there, but the conditions where apocalyptic, lucky enough she had her father’s employer’s legal department have a closer look to the contract and decided to pull out at the last minute.


However, a staff member of hers at the time, decided to go easy and move from Supervisor in London to Store Manager in Dubai. Apparently it has been a gross mistake, they pay in advance your rent and utility bills, flights in business class to Paris for training that are great to make your friends back home envious, but if you decide to quit before the 12/18 month contract expires, you have to pay everything back, or face imprisonment. She calls UK in tears every night. She could just go, but her family lives in Doha, and that would ban her of ever going back to the Gulf.

At least, my Italian friend pulled out when she was told she had to surrender her passport until the end of the contract, literally living in a sand and sun prison.

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On bonuses, RBS, and how to improve going forward

So the UK government decided to scrap the bonuses at RBS (FT.com).

UK gov, or its tax payers, owns 68% of the bank, so they say they are going to honour the contractual bonuses and scrap those directed to anyone related to the credit debacle (and slap wrist to the executive directors, they’ve been naughty, naughty, naughty… non-execs were nowhere to be found for comment, reprimand or else, probably busy un-overseeing a different company).

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On Madoff’s list of conned and now, publicly shamed

I am sad. I am not in it. I can’t even afford to own property (or rent) and the addresses included on the list. I am poor.

I am still amazed at the fact that the milion and billionaire investors who has been published. With what seems personal addresses.

I don’t get it… If losing all you investmented with Mr Madeoff, they even put up up on the web for public shame. Address included. Continue reading

On Jim Rogers, Britain’s demise and parenthood in the 21st century

Jim “Commodities supercicle/bull in China” Rogers has done it again.

Last week, he told a gloom story for any gloom-seeker journalist who wanted a headline story.

Summarising, UK Plc has nothing to sell. It’s main exports (namely financial services and North Sea oil) are gone or near-gone, so according to him, it is time to move out of the already battered pound.

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On Steve Jobs and decoupling the man from the business

Last January 5 Steve Jobs posted a letter on Apple’s site stating that he had a “hormonal imbalance” that caused him lose of weight. The guy is a genius, let’s face it (being a Pixar addict as I am, I owe him my only hours and hours of amazement in front of a non-computer related screen). He conquered pancreatic cancer back in 2004, or seemed to have done so.

Back in December Fortune magazine run an article on Apple’s life after Jobs (Apple 2.0, 20.12.2008). Tim Cook, Apple’s CEO, came as the leader of the pack. As a matter of fact, he had taken over the reins for a short while and he has taken them over again.

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On learning something once and for all, bankers wouldn’t make it as bricklayers, Madoff’s $50bn lesson to the mortals of the world

Hobbes, in June last year we bumped into one of my girlfriend’s friend and her husband.

Me, an amateur entrepreneur (if that is possible) trying to make ends meet.
Him, a successful London-NYC currency trader friends with movie stars, up and coming successful Spanish tennis players, and hooked on luxury hotels, cars and vacations.

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It’s Good to Know: Financial Times interview with Jim Rogers

Browsing, browsing, browsing I have found on FT.com a very interesting interview to Jim Rogers, George Soros’ Quantum Fund founder.

Comodities, water recycling in China, hyperinflation on the making, the dawn of the dollar… I hope you enjoy it as much as I did, I am pretty sure that the 20′ are worth your while:

From South Korea…