Index of An GG Ar An

Drop Dead Models

Story of Models That Drop

Here is some example of world economic crisis, even models is become a victim of it.

Why, you say, it has a connection with economic crisis?

As you can see from the picture, the agency have to cut off inefficient expenses including....Janitor.

by GerrysRealm

Citigroup loses $9bn and plans to cut 52,000 jobs

I saw TV yesterday and shock knowing that Citigroup loses $9bn and plans to cut 52,000 jobs. Citigroup, once the world's biggest bank, saw more than $9bn (£6bn) wiped off its value yesterday as its shares were locked in a downward spiral on Wall Street, amid fears the bank will lose billions more in the months ahead as bad debts pile up.

As the market closed, Citigroup shares were down by more than 22% at $6.45 (£4.30), their lowest level since 1995. From global top spot, the bank is now ranked fifth in the US by market value, behind the regional lender US Bancorp.

Citigroup's market capitalisation plunged to $35.5bn (£23.7bn) by the time the New York Stock Exchange closed. At the start of the day it was worth more than $44bn (£29.6bn), while a little more than a year ago Citi had a market value of $250bn (£167bn) and dominated US banking.

The sell-off in Citi shares increases the pressure on Vikram Pandit, the embattled chief executive who has failed to arrest its rapid decline. Since Pandit took over the helm of Citi last December, the company has posted losses of more than $20bn and the banking group has lost more than 73% of its market value.

Pandit revealed plans to cut 52,000 jobs from operations worldwide, including thousands in the City of London. Far from pleasing the market, the move served only to further depress the share price.

To make matters worse, several Wall Street analysts yesterday published bleak profits forecasts for Citigroup.

David Trone, banking analyst at Fox-Pitt Kelton, said he expects Citigroup to take net write-downs of $3bn during the fourth quarter. Trone also widened his quarterly loss estimate for Citigroup to 79 cents a share, from 8 cents.

Citigroup was the biggest loser among US banks yesterday on another nightmarish trading session on Wall Street.

Citi was not alone, as billions of dollars were slashed from the market values of all of America's biggest banks. Bank of America shares were down more than 14% at $13, and JP Morgan Chase shares fell more than 11% to $28.47.

The US labour department's consumer price index plummeted 1%, the biggest drop since records began in 1947. Analysts said earlier concern about inflation risks might soon be replaced by worries about deflation.

for more information, you can read at : http://www.guardian.co.uk/business/2008/nov/20/citigroup-wall-street-banking-debt

Indonesia Economic

Global recession also impact indonesia market. Palm Oil Industrial Cluster, rubber, steel industry and garment sector have experienced the impact. Palm oil price drop until Rp. 350,- / kg on 15/10/2008 (read more at http://www.detiknews.com/read/2008/10/15/035215/1020146/10/harga-sawit-anjlok-hingga-rp-350-per-kilogram) and still continue drop to Rp. 200,- / kg on November. I hear from friends in Sumatera, to transport from field to processing plant may cost about Rp. 400.000/ton (1 ton = 1000 kg). This is just production cost for transportation only.

Microsoft Tale

Microsoft Tale

In 2050 A.D. Bill Gates dies in a car accident. He finds himself in the Purgatory waiting room, when God enters...

"Well, Bill," says God, "I'm confused. I'm not sure whether to send you to Heaven or Hell: you helped society enormously by putting a computer in almost every home in the world, and yet you've also created some of the most unearthly frustrations known to mankind. I'm going to do something I've never done before: I'm going to let you choose where you want to go."

Bill replies, "Well, thanks, God. What's the difference between the two?"

God says, "I'm willing to let you visit both places briefly to help you make your decision."

"Okay, where should I go first?" asks Bill.

God says, "That's up to you."

Bill says, "OK, let's try Hell first."
So Bill goes to Hell. It's a beautiful, clean, sandy beach with clear waters. There are thousands of beautiful women running around, playing in the water, laughing and frolicking about. The sun is shining, the temperature is just right. The whole thing looks perfect, and Bill is very pleased.

"This is great!" he tells God, "If this is Hell, I REALLY want to see Heaven!"

"Fine," says God, and off they go.

Heaven is a high place in the clouds, with angels drifting about playing harps and singing. It very nice but not as enticing as Hell. Bill thinks for a moment and announces his decision.

"Hmm, I think I prefer Hell." he tells God.

"Fine," says God, "As you desire."
So Bill Gates is taken to Hell.

Two weeks later, God decides to check up on Bill to see how he's doing in Hell. When God arrives in Hell, he finds Bill shackled to a wall, screaming amongst the hot flames in a dark cave. He's being burned and tortured by demons.

"How's everything going, Bill?" God asks.

Bill replies, his voice full of anguish and disappointment, "This is awful, it's not what I expected at all, I can't believe it. What happened to that other place with the beaches and the beautiful women playing in the water?"