See: http://www.northjersey.com/news/business/new-york-woolworth-penthouse-priced-at-record-110-million-1.1027526?page=all
"The $110 million penthouse is about 8,975 square feet with a 584-square-foot terrace. The four-bedroom condo with a private elevator spans nine stories, with the primary living space on the 50th and 51st floors, according to the offering plan. A great room and wine cellar make up the 53rd floor, and the 55th through 58th levels in the cupola include a library or media room and an observation deck at the top, the plan shows.
The Woolworth Building penthouse isn't the most expensive new condo listing in Manhattan's history. Two units at Extell Development Co.'s One57 were once priced at $115 million. Penthouses at One57 and Harry Macklowe and CIM Group's 432 Park Ave. are under contract for more than $90 million, a record for Manhattan."
Monday, June 30, 2014
Elite Residential Towers of New York
I am no expert on New York, but from what little I have read, these are the top residential buildings there. I hope to do a little profile of each one, with more research, and rank them, maybe by average price by unit or estimated total price per building.
740 Park Avenue - the most powerful apartment building in New York. Opened in 1929. 256 feet. 19 floors and 31 units in a cooperative.
157 W 57th Street - One57. Opened in 2014. 1004 feet. 75 floors with 92 luxury condos on top of a hotel.
432 Park Avenue. Under construction, should be completed in 2015. Will have 89 floors and 125 luxury condos.
20 Pine Street. Built in 1928 with 409 apartments over 35 floors.
75 Wall Street. In the heart of the financial district. Built in 1987 with 350 apartments over 36 floors.
53 West 53rd Street - Tower Verre. Under construction. Has $1 billion in financing for construction. Will have 82 floors and 145 luxury condos.
20 West 53rd Street - Baccarat Hotel. Under construction. Will have 51 stories and 61 luxury condos.
520 Park Avenue. Planned. Will have 51 stories and 31 full floor units, with prices starting at $27 million and a $100 million penthouse.
15 Central Park West. Completed in 2008. 540 ft, 202 units.
8 Spruce Street - New York by Gehry. Completed in 2011. Has 898 rental units, with none available for purchase.
520 West 28th Street - by architect Zaha Hadid. Under construction. 11 stories. Will have 40 luxury condos. The least expensive one will be $4.6 million and the penthouse will sell for $35 million.
845 United Nations Plaza - Trump World Tower. 861 ft. 72 floors. Completed 2001. 376 luxury condos.
731 Lexington Avenue - Bloomberg Tower. 807 ft to roof. Completed 2004. 105 luxury condos.
123 Washington Street - W New York Downtown Hotel and Residences. 630 ft to roof. Completed 2010. 223 luxury condos.
See also, the 10 Most Prestigious Co-ops.
740 Park Avenue - the most powerful apartment building in New York. Opened in 1929. 256 feet. 19 floors and 31 units in a cooperative.
157 W 57th Street - One57. Opened in 2014. 1004 feet. 75 floors with 92 luxury condos on top of a hotel.
432 Park Avenue. Under construction, should be completed in 2015. Will have 89 floors and 125 luxury condos.
20 Pine Street. Built in 1928 with 409 apartments over 35 floors.
75 Wall Street. In the heart of the financial district. Built in 1987 with 350 apartments over 36 floors.
53 West 53rd Street - Tower Verre. Under construction. Has $1 billion in financing for construction. Will have 82 floors and 145 luxury condos.
20 West 53rd Street - Baccarat Hotel. Under construction. Will have 51 stories and 61 luxury condos.
520 Park Avenue. Planned. Will have 51 stories and 31 full floor units, with prices starting at $27 million and a $100 million penthouse.
15 Central Park West. Completed in 2008. 540 ft, 202 units.
8 Spruce Street - New York by Gehry. Completed in 2011. Has 898 rental units, with none available for purchase.
520 West 28th Street - by architect Zaha Hadid. Under construction. 11 stories. Will have 40 luxury condos. The least expensive one will be $4.6 million and the penthouse will sell for $35 million.
845 United Nations Plaza - Trump World Tower. 861 ft. 72 floors. Completed 2001. 376 luxury condos.
731 Lexington Avenue - Bloomberg Tower. 807 ft to roof. Completed 2004. 105 luxury condos.
123 Washington Street - W New York Downtown Hotel and Residences. 630 ft to roof. Completed 2010. 223 luxury condos.
See also, the 10 Most Prestigious Co-ops.
New York Real Estate is the new reserve currency
Read Stash Pad
Manhattan Condos Are The New Swiss Bank Accounts For The World's Super-Rich
Laundering Illegal Money? There's Ultraluxury New York Real Estate For That
"Behind a New York City deed, there may be a Delaware LLC, which may be managed by a shell company in the British Virgin Islands, which may be owned by a trust in the Isle of Man, which may have a bank account in Liechtenstein managed by the private banker in Geneva."
See also London real estate is the new reserve currency
and http://www.departures.com/articles/new-yorks-first-100-million-apartment-is-coming-soon
Manhattan Condos Are The New Swiss Bank Accounts For The World's Super-Rich
Laundering Illegal Money? There's Ultraluxury New York Real Estate For That
"Behind a New York City deed, there may be a Delaware LLC, which may be managed by a shell company in the British Virgin Islands, which may be owned by a trust in the Isle of Man, which may have a bank account in Liechtenstein managed by the private banker in Geneva."
See also London real estate is the new reserve currency
and http://www.departures.com/articles/new-yorks-first-100-million-apartment-is-coming-soon
G30 as of June 30
G30 as of 6/30/2014 | ||||||||
Shares (M) | Shares (M) | Price | Price | Total (M) | Total (M) | |||
Rank | Symbol | Company | 05/31/14 | 06/30/14 | 05/31/14 | 06/30/14 | 05/31/14 | 06/30/14 |
1 | AAPL | Apple Inc | 861.38 | 6030 | 633.00 | 92.93 | 545,254 | 560,368 |
2 | XOM | Exxon Mobil | 4290 | 4290 | 100.53 | 100.68 | 431,274 | 431,917 |
3 | GOOG | 674.49 | 674.49 | 559.89 | 575.28 | 377,640 | 388,021 | |
4 | MSFT | Microsoft | 8260 | 8260 | 40.94 | 41.70 | 338,164 | 344,442 |
5 | BRK-A | Berkshire Hath | 1.64 | 1.6 | 192,000 | 189,900.50 | 314,880 | 303,841 |
6 | JNJ | Johnson Johnson | 2830 | 2830 | 101.46 | 104.62 | 287,132 | 296,075 |
7 | WFC | Wells Fargo | 5260 | 5260 | 50.78 | 52.56 | 267,103 | 276,466 |
8 | RDS-B | Royal Dutch Shell | 3160 | 3160 | 81.84 | 87.01 | 258,614 | 274,952 |
9 | GE | General Electric | 10040 | 10040 | 26.79 | 26.28 | 268,972 | 263,851 |
10 | CVX | Chevron | 1900 | 1900 | 122.79 | 130.55 | 233,301 | 248,045 |
11 | NSRGY | Nestle | 3190 | 3190 | 78.57 | 77.67 | 250,638 | 247,767 |
12 | WMT | Wal-Mart | 3230 | 3230 | 76.77 | 75.07 | 247,967 | 242,476 |
13 | NVS | Novartis | 2450 | 2450 | 90.06 | 90.53 | 220,647 | 221,799 |
14 | JPM | JP Morgan Chase | 3790 | 3790 | 55.57 | 57.62 | 210,610 | 218,380 |
15 | PG | Proctor Gamble | 2710 | 2710 | 80.79 | 78.59 | 218,941 | 212,979 |
16 | VZ | Verizon | 4140 | 4140 | 49.96 | 48.93 | 206,834 | 202,570 |
17 | HSBC | HSBC Holdings | 3860 | 3860 | 52.72 | 50.80 | 203,499 | 196,088 |
18 | PFE | Pfizer | 6380 | 6380 | 29.63 | 29.68 | 189,039 | 189,358 |
19 | KO | Coca Cola | 4410 | 4410 | 40.91 | 42.36 | 180,413 | 186,808 |
20 | BUD | Anheuser-Busch | 1610 | 1610 | 109.92 | 114.94 | 176,971 | 185,053 |
21 | T | ATT | 5210 | 5190 | 35.47 | 35.36 | 184,799 | 183,518 |
22 | IBM | IBM | 1010 | 1010 | 184.36 | 181.27 | 186,204 | 183,083 |
23 | BHP | BHP Billiton | 2660 | 2660 | 67.88 | 68.45 | 180,561 | 182,077 |
24 | ORCL | Oracle | 4460 | 4460 | 42.02 | 40.53 | 187,409 | 180,764 |
25 | FB | 2570 | 2570 | 63.30 | 67.29 | 162,681 | 172,935 | |
26 | MRK | Merck | 2920 | 2920 | 57.86 | 57.85 | 168,951 | 168,922 |
27 | TOT | Total SA | 2270 | 2270 | 69.45 | 72.20 | 157,652 | 163,894 |
28 | BP | BP plc | 3080 | 3080 | 50.45 | 52.75 | 155,386 | 162,470 |
29 | BAC | Bank of America | 10520 | 10520 | 15.14 | 15.37 | 159,273 | 161,692 |
30 | AMZN | Amazon | 460.17 | 460.17 | 312.55 | 324.78 | 143,826 | 149,454 |
7,114,635 | 7,200,064 | |||||||
101.20% |
I took out Samsung, because the numbers are unreliable and it has such low volume, and replaced it with Amazon. See also G30 as of 5/31/14. If the price keeps going up on Disney, it may be added in the future to this list. Also Intel
Saturday, June 28, 2014
Friday, June 27, 2014
Monday, June 23, 2014
Stock buybacks surge
"Repurchases and buybacks soared nearly 60 percent in the first quarter, putting a floor under a market that struggled amid a brutal winter and an economy that contracted at least 1 percent. Companies have used bargain-basement interest rates to borrow money for stock purchases, which have fed the equity market even as gross domestic product growth has stumbled along.
In all, corporations increased buybacks by 59 percent to $159.3 billion, according to S-P Dow Jones Indices. That's up strongly from the $100 billion for the same period in 2013 and a bit below the $172 billion high set in the third quarter of 2007, just before the financial crisis and market crash that sent indexes plunging 60 percent." http://finance.yahoo.com/news/rich-richer-stock-buybacks-surge-103954221.html
Comment: Highest since 2007. Hmm, not to worry, the stock market will keep going up forever, right?
Comment: Highest since 2007. Hmm, not to worry, the stock market will keep going up forever, right?
Gold is all green
Gold, currently at 1317.00, is up on all measures for the first time in a long long time. At least since October 2012, when it hit almost 1800/oz.
Friday, June 20, 2014
Thursday, June 19, 2014
Top Cities #24
Influenced by International Passenger Traffic and World's Busiest Airports. Dubai is the number one city for International Passenger Traffic, but cities can only move up or down 5 points from the previous ranking. Atlanta is the world's busiest airport, but other cities, such as Miami, have more international traffic. Antalya Turkey was skipped because it doesn't show up in other rankings. This is the lowest New York has ever been ranked.
1. London (6)
2. Hong Kong (5)
3. Singapore (3)
4. Tokyo (4)
5. Paris (10)
6. New York (1)
7. Chicago (2)
8. Toronto (12)
9. Beijing (8)
10. Seoul-Incheon (15)
11. Zurich (16)
12. Shanghai (7)
13. Dubai (17)
14. Los Angeles (9)
15. Moscow (18)
16. San Francisco/San Jose (11)
17. Taipei (21)
18. Osaka (13)
19. Washington (14)
20. Amsterdam (Randstad) (23)
21. Istanbul (25)
22. Bangkok (27)
23. Kuala Lumpur (26)
24. Sydney (19)
25. Sao Paolo (20)
26. Mexico City (24)
27. Boston (22)
28. Frankfurt (32)
29. Dallas (33)
30. Shenzhen (34)
31. Guangzhou/Foshan (36)
32. Oslo (28)
33. Buenos Aires (29)
34. Mumbai (39)
35. Geneva (30)
36. Milan (31)
37. Copenhagen (41)
38. Jakarta (42)
39. Houston (40)
40. Melbourne (35)
41. Brussels (45)
42. Philadelphia (37)
43. Montreal (38)
44. Madrid (49)
45. Munich (50)
46. Vienna (44)
47. Stockholm (46)
48. Dublin (53)
49. Tianjin (46)
50. Chongqing (47)
51. Rome (new)
52. Barcelona (new)
53. Berlin (48)
54. Doha (new)
55. Miami (new)
Rome, Barcelona, Doha and Miami appear again, replacing Busan, Panama City, Rhine-Ruhr, and Rio de Janiero.
1. London (6)
2. Hong Kong (5)
3. Singapore (3)
4. Tokyo (4)
5. Paris (10)
6. New York (1)
7. Chicago (2)
8. Toronto (12)
9. Beijing (8)
10. Seoul-Incheon (15)
11. Zurich (16)
12. Shanghai (7)
13. Dubai (17)
14. Los Angeles (9)
15. Moscow (18)
16. San Francisco/San Jose (11)
17. Taipei (21)
18. Osaka (13)
19. Washington (14)
20. Amsterdam (Randstad) (23)
21. Istanbul (25)
22. Bangkok (27)
23. Kuala Lumpur (26)
24. Sydney (19)
25. Sao Paolo (20)
26. Mexico City (24)
27. Boston (22)
28. Frankfurt (32)
29. Dallas (33)
30. Shenzhen (34)
31. Guangzhou/Foshan (36)
32. Oslo (28)
33. Buenos Aires (29)
34. Mumbai (39)
35. Geneva (30)
36. Milan (31)
37. Copenhagen (41)
38. Jakarta (42)
39. Houston (40)
40. Melbourne (35)
41. Brussels (45)
42. Philadelphia (37)
43. Montreal (38)
44. Madrid (49)
45. Munich (50)
46. Vienna (44)
47. Stockholm (46)
48. Dublin (53)
49. Tianjin (46)
50. Chongqing (47)
51. Rome (new)
52. Barcelona (new)
53. Berlin (48)
54. Doha (new)
55. Miami (new)
Rome, Barcelona, Doha and Miami appear again, replacing Busan, Panama City, Rhine-Ruhr, and Rio de Janiero.
Tuesday, June 17, 2014
A crash is the system fixing itself
A crash, or the liquidation of assets that have grown unimpeded by economic reality (as if there were more nutrients in the ecosystem than there actually are), looks to academics and bureaucrats – and just about everyone else as well – like the system breaking down. It is actually the system fixing itself. http://www.theautomaticearth.com/debt-rattle-jun-17-2014-a-crash-is-a-system-fixing-itself/
Top Cities #23
Influence by skyline rating. See previous list.
1. New York City (1)
2. Chicago (7)
3. Singapore (8)
4. Tokyo (2)
5. Hong Kong (10)
6. London (3)
7. Shanghai (12)
8. Beijing (13)
9. Los Angeles (4)
10. Paris (5)
11. San Francisco/San Jose (6)
12. Toronto (17)
13. Osaka (15)
14. Washington (9)
15. Seoul (19)
16. Zurich (11)
17. Dubai (21)
18. Moscow (20)
19. Sydney (14)
20. Sao Paolo (24)
21. Taipei (16)
22. Boston (18)
23. Amsterdam (Randstad) (22)
24. Mexico City (29)
25. Istanbul (30)
26. Kuala Lumpur (31)
27. Bangkok (32)
28. Oslo (23)
29. Buenos Aires (34)
30. Geneva (25)
31. Milan (26)
32. Frankfurt (27)
33. Dallas (28)
34. Shenzhen (35)
35. Melbourne (33)
36. Guangzhou/Foshan (41)
37. Philadelphia (36)
38. Montreal (37)
39. Mumbai (44)
40. Houston (45)
41. Copenhagen (38)
42. Jakarta (47)
43. Stockholm (39)
44. Vienna (40)
45. Brussels (42)
46. Tianjin (51)
47. Chongqing (52)
48. Berlin (43)
49. Madrid (50)
50. Munich (46)
51. Busan (new)
52. Panama City (new)
53. Dublin (48)
54. Rhine-Ruhr (Dusseldorf) (49)
55. Rio de Janeiro (new)
1. New York City (1)
2. Chicago (7)
3. Singapore (8)
4. Tokyo (2)
5. Hong Kong (10)
6. London (3)
7. Shanghai (12)
8. Beijing (13)
9. Los Angeles (4)
10. Paris (5)
11. San Francisco/San Jose (6)
12. Toronto (17)
13. Osaka (15)
14. Washington (9)
15. Seoul (19)
16. Zurich (11)
17. Dubai (21)
18. Moscow (20)
19. Sydney (14)
20. Sao Paolo (24)
21. Taipei (16)
22. Boston (18)
23. Amsterdam (Randstad) (22)
24. Mexico City (29)
25. Istanbul (30)
26. Kuala Lumpur (31)
27. Bangkok (32)
28. Oslo (23)
29. Buenos Aires (34)
30. Geneva (25)
31. Milan (26)
32. Frankfurt (27)
33. Dallas (28)
34. Shenzhen (35)
35. Melbourne (33)
36. Guangzhou/Foshan (41)
37. Philadelphia (36)
38. Montreal (37)
39. Mumbai (44)
40. Houston (45)
41. Copenhagen (38)
42. Jakarta (47)
43. Stockholm (39)
44. Vienna (40)
45. Brussels (42)
46. Tianjin (51)
47. Chongqing (52)
48. Berlin (43)
49. Madrid (50)
50. Munich (46)
51. Busan (new)
52. Panama City (new)
53. Dublin (48)
54. Rhine-Ruhr (Dusseldorf) (49)
55. Rio de Janeiro (new)
Rome, Detroit, and Hamburg, all just added, fall off, replaced by Busan, Panama City and Rio de Janeiro.
Monday, June 16, 2014
Wednesday, June 11, 2014
Just when you thought it was safe to go back into the water
"Estimated Deficit in May 2014: $131 Billion. CBO estimates that the federal government incurred a deficit of $131 billion in May 2014—$8 billion less than the shortfall in May 2013."
http://www.cbo.gov/publication/45426
Social program spending continues to rise:
Social program spending continues to rise:
- Spending for Social Security benefits rose by $25 billion (or 5 percent).
- Outlays for Medicaid rose by $14 billion (or 8 percent).
- Spending by the Department of Veterans Affairs (included in "Other Activities") increased by $9 billion (or 10 percent).
Tuesday, June 10, 2014
Top Cities #22
Influenced by number of estimated millionaires (in thousands). Some of these are wild guesses. Compare to prior list.
1. New York City (1) [727]
2. Tokyo (2) [461]
3. London (5) [281]
4. Los Angeles (6) [256]
5. Paris (8) [219]
6. San Francisco/San Jose (11) [239]
7. Chicago [7] [212]
8. Singapore [3] [180]
9. Washington [4] [166]
10. Hong Kong (10) [187]
11. Zurich (15) [170]
12. Shanghai (17) [166]
13. Beijing (18) [213]
14. Sydney (9) [104]
15. Osaka (19) [190]
16. Taipei (20) [165]
17. Toronto (12) [118]
18. Boston (13) [110]
19. Seoul (14) [131]
20. Moscow (21) [101]
21. Dubai (16) [26]
22. Amsterdam (Randstad) (25) [130]
23. Oslo (28) [125]
24. Sao Paolo (23) [105]
25. Geneva (27) [90]
26. Milan (22) [80]
27. Frankfurt (32) [217]
28. Dallas (24) [75]
29. Mexico City (34) [102]
30. Istanbul (30) [56]
31. Kuala Lumpur (26) [39]
32. Bangkok (31) [50]
33. Melbourne (37) [45]
34. Buenos Aires (29) [20]
35. Shenzhen (40) [54]
36. Philadelphia (41) [109]
37. Montreal (39) [52]
38. Copenhagen (33) [25]
39. Stockholm (42) [48]
40. Vienna (35) [20]
41. Guangzhou/Foshan (36) [31]
42. Brussels (45) [85]
43. Berlin (38) [45]
44. Mumbai (48) [66]
45. Houston (50) [103]
46. Munich (51) [130]
47. Jakarta (49) [38]
48. Dublin (43) [33]
49. Rhine-Ruhr (Dusseldorf) (44) [20]
50. Madrid (55) [35]
51. Tianjin (46) [19]
52. Chongqing (47) [15]
53. Rome (new) [127]
54. Detroit (new) [90]
55. Hamburg (new) [84]
Wuhan, Miami, and Barcelona fall off, replaced by Rome, Detroit and Hamburg. There are now 5 cities from Germany in the top 55 - Frankfurt, Berlin, Munich, Dusseldorf, and Hamburg.
1. New York City (1) [727]
2. Tokyo (2) [461]
3. London (5) [281]
4. Los Angeles (6) [256]
5. Paris (8) [219]
6. San Francisco/San Jose (11) [239]
7. Chicago [7] [212]
8. Singapore [3] [180]
9. Washington [4] [166]
10. Hong Kong (10) [187]
11. Zurich (15) [170]
12. Shanghai (17) [166]
13. Beijing (18) [213]
14. Sydney (9) [104]
15. Osaka (19) [190]
16. Taipei (20) [165]
17. Toronto (12) [118]
18. Boston (13) [110]
19. Seoul (14) [131]
20. Moscow (21) [101]
21. Dubai (16) [26]
22. Amsterdam (Randstad) (25) [130]
23. Oslo (28) [125]
24. Sao Paolo (23) [105]
25. Geneva (27) [90]
26. Milan (22) [80]
27. Frankfurt (32) [217]
28. Dallas (24) [75]
29. Mexico City (34) [102]
30. Istanbul (30) [56]
31. Kuala Lumpur (26) [39]
32. Bangkok (31) [50]
33. Melbourne (37) [45]
34. Buenos Aires (29) [20]
35. Shenzhen (40) [54]
36. Philadelphia (41) [109]
37. Montreal (39) [52]
38. Copenhagen (33) [25]
39. Stockholm (42) [48]
40. Vienna (35) [20]
41. Guangzhou/Foshan (36) [31]
42. Brussels (45) [85]
43. Berlin (38) [45]
44. Mumbai (48) [66]
45. Houston (50) [103]
46. Munich (51) [130]
47. Jakarta (49) [38]
48. Dublin (43) [33]
49. Rhine-Ruhr (Dusseldorf) (44) [20]
50. Madrid (55) [35]
51. Tianjin (46) [19]
52. Chongqing (47) [15]
53. Rome (new) [127]
54. Detroit (new) [90]
55. Hamburg (new) [84]
Wuhan, Miami, and Barcelona fall off, replaced by Rome, Detroit and Hamburg. There are now 5 cities from Germany in the top 55 - Frankfurt, Berlin, Munich, Dusseldorf, and Hamburg.
Thursday, June 5, 2014
Vatican Economics
I'm not Catholic and not a big fan of the Vatican, but I find Vatican economic regulation interesting.
First there is the Administration of the Patrimony of the Apostolic See, (APSA) which is the Central Bank of Vatican City. It was established in 1967, and is a successor to the Administration of the Property of the Holy See. The president is Domenico Calcagno.
Second is the Prefecture for the Economic Affairs of the Holy See (PAESS). It was also established in 1967 and is headed by Cardinal Joseph F.X. Zahra (another source says that it is Cardinal Giuseppe Versaldi). It oversees all offices of the Holy See that manage finances. This is in effect the Treasury Department of the Vatican.
Third is the Vatican Financial Information Authority (AIF). It was established by Pope Benedict XVI in 2010 and is headed by Bishop Giorgio Corbellini. It monitors the monetary and commercial activities of Vatican agencies, including the Vatican Bank.
Fourth, there is a new Secretariat for the Economy headed by Archbishop George Pell, whose title is Prefect. The Secretariat also has a General Secretary, Monsignor Brian Ferme. It is advised by the Council for the Economy, headed by Reinhard Marx. There was a "Council of Cardinals for the Study of Organisational and Economic Problems of the Holy See", known as the "Economic Council of Cardinals", which was a predecessor of the Council for the Economy.
All or some of these supervise the Institute for the Works of Religion (IOR), popularly known as the Vatican Bank, whose president is Ernst von Freyberg. Despite being located on the sovereign territory of the Vatican State, it is not owned by the Holy See. If it were it would be regulated by the Prefecture for the Economic Affairs of the Holy See.
In addition to these, there are two agencies tasked with reforming the Vatican economy: the Pontifical Commission for Reference on the Organization of the Economic- Administrative Structure of the Holy See (COSEA), and the Pontifical Commission for Reference on the Institute for Works of Religion (CRIOR).
There is also the State Accounting Administration of the Governorate of Vatican City State, headed by Antonio Chiminello, which manages the finances of the Vatican City State. And don't forget the Accountant General, Stefano Fralleoni, or the new auditor-general, who has not been appointed yet.
Such a lot of financial agencies for such a small country.
Update: There is a new Vatican Asset Management Department that will handle investments.
Update: I didn't mention the Apostolic Camera, headed by the Camerlengo of the Holy Roman Church, currently Cardinal Kevin Farrell. It was the central board of finance in the Papal administrative system. While it still exists, it hasn't had practical importance since 1870 when the Papal States where annexed to Italy.
First there is the Administration of the Patrimony of the Apostolic See, (APSA) which is the Central Bank of Vatican City. It was established in 1967, and is a successor to the Administration of the Property of the Holy See. The president is Domenico Calcagno.
Second is the Prefecture for the Economic Affairs of the Holy See (PAESS). It was also established in 1967 and is headed by Cardinal Joseph F.X. Zahra (another source says that it is Cardinal Giuseppe Versaldi). It oversees all offices of the Holy See that manage finances. This is in effect the Treasury Department of the Vatican.
Third is the Vatican Financial Information Authority (AIF). It was established by Pope Benedict XVI in 2010 and is headed by Bishop Giorgio Corbellini. It monitors the monetary and commercial activities of Vatican agencies, including the Vatican Bank.
Fourth, there is a new Secretariat for the Economy headed by Archbishop George Pell, whose title is Prefect. The Secretariat also has a General Secretary, Monsignor Brian Ferme. It is advised by the Council for the Economy, headed by Reinhard Marx. There was a "Council of Cardinals for the Study of Organisational and Economic Problems of the Holy See", known as the "Economic Council of Cardinals", which was a predecessor of the Council for the Economy.
All or some of these supervise the Institute for the Works of Religion (IOR), popularly known as the Vatican Bank, whose president is Ernst von Freyberg. Despite being located on the sovereign territory of the Vatican State, it is not owned by the Holy See. If it were it would be regulated by the Prefecture for the Economic Affairs of the Holy See.
In addition to these, there are two agencies tasked with reforming the Vatican economy: the Pontifical Commission for Reference on the Organization of the Economic- Administrative Structure of the Holy See (COSEA), and the Pontifical Commission for Reference on the Institute for Works of Religion (CRIOR).
There is also the State Accounting Administration of the Governorate of Vatican City State, headed by Antonio Chiminello, which manages the finances of the Vatican City State. And don't forget the Accountant General, Stefano Fralleoni, or the new auditor-general, who has not been appointed yet.
Such a lot of financial agencies for such a small country.
Update: There is a new Vatican Asset Management Department that will handle investments.
Update: I didn't mention the Apostolic Camera, headed by the Camerlengo of the Holy Roman Church, currently Cardinal Kevin Farrell. It was the central board of finance in the Papal administrative system. While it still exists, it hasn't had practical importance since 1870 when the Papal States where annexed to Italy.
Top Cities #21
Here is a new list, influenced by the gross wages paid per capita, with some guesses. Compare to prior list.
1. New York City (1)
2. Tokyo (4)
3. Singapore (8)
4. Washington (9)
5. London (2)
6. Los Angeles (6)
7. Chicago (7)
8. Paris (3)
9. Sydney (14)
10. Hong Kong (5)
11. San Francisco (16)
12. Toronto (11)
13. Boston (15)
14. Seoul (10)
15. Zurich (20)
16. Dubai (18)
17. Shanghai (12)
18. Beijing (13)
19. Osaka (17)
20. Taipei (23)
21. Moscow (19)
22. Milan (27)
23. Sao Paolo (22)
24. Dallas (25)
25. Amsterdam (Randstad) (30)
26. Kuala Lumpur (21)
27. Geneva (32)
28. Oslo (33)
29. Buenos Aires (24)
30. Istanbul (28)
31. Bangkok (26)
32. Frankfurt (37)
33. Copenhagen (38)
34. Mexico City (29)
35. Vienna (40)
36. Guangzhou/Foshan (31)
37. Melbourne (34)
38. Berlin (39)
39. Montreal (41)
40. Shenzhen (35)
41. Philadelphia (36)
42. Stockholm (46)
43. Dublin (48)
44. Rhine-Ruhr (Dusseldorf) (49)
45. Brussels (50)
46. Tianjin (42)
47. Chongqing (45)
48. Mumbai (43)
49. Jakarta (44)
50. Houston (51)
51. Munich (new)
52. Wuhan (47)
53. Miami (new)
54. Barcelona (new)
55. Madrid (53)
Lagos, Delhi, and Manila fall off, replaced by Munich, Miami and Barcelona.
1. New York City (1)
2. Tokyo (4)
3. Singapore (8)
4. Washington (9)
5. London (2)
6. Los Angeles (6)
7. Chicago (7)
8. Paris (3)
9. Sydney (14)
10. Hong Kong (5)
11. San Francisco (16)
12. Toronto (11)
13. Boston (15)
14. Seoul (10)
15. Zurich (20)
16. Dubai (18)
17. Shanghai (12)
18. Beijing (13)
19. Osaka (17)
20. Taipei (23)
21. Moscow (19)
22. Milan (27)
23. Sao Paolo (22)
24. Dallas (25)
25. Amsterdam (Randstad) (30)
26. Kuala Lumpur (21)
27. Geneva (32)
28. Oslo (33)
29. Buenos Aires (24)
30. Istanbul (28)
31. Bangkok (26)
32. Frankfurt (37)
33. Copenhagen (38)
34. Mexico City (29)
35. Vienna (40)
36. Guangzhou/Foshan (31)
37. Melbourne (34)
38. Berlin (39)
39. Montreal (41)
40. Shenzhen (35)
41. Philadelphia (36)
42. Stockholm (46)
43. Dublin (48)
44. Rhine-Ruhr (Dusseldorf) (49)
45. Brussels (50)
46. Tianjin (42)
47. Chongqing (45)
48. Mumbai (43)
49. Jakarta (44)
50. Houston (51)
51. Munich (new)
52. Wuhan (47)
53. Miami (new)
54. Barcelona (new)
55. Madrid (53)
Lagos, Delhi, and Manila fall off, replaced by Munich, Miami and Barcelona.
Wednesday, June 4, 2014
Contiki
"Contiki isn’t nearly so well-known as Windows or OS X or even Linux, but for more than a decade, it has been the go-to operating system for hackers, academics, and companies building network-connected devices like sensors, trackers, and web-based automation systems. Developers love it because it’s lightweight, it’s free, and it’s mature. It provides a foundation for developers and entrepreneurs eager to bring us all the internet-connected gadgets the internet of things promises, without having to develop the underlying operating system those gadgets will need.
Perhaps the biggest thing Contiki has going for it is that it’s small. Really small. While Linux requires one megabyte of RAM, Contiki needs just a few kilobytes to run. Its inventor, Adam Dunkels, has managed to fit an entire operating system, including a graphical user interface, networking software, and a web browser into less than 30 kilobytes of space. That makes it much easier to run on small, low powered chips–exactly the sort of things used for connected devices–but it’s also been ported to many older systems like the Apple IIe and the Commodore 64." http://www.wired.com/2014/06/contiki/
Top Cities #20
Influenced by ATKearney.com list of Global Cities. Compare to prior list.
1. New York (1)
2. London (2)
3. Paris (5)
4. Tokyo (4)
5. Hong Kong (10)
6. Los Angeles (11)
7. Chicago (6)
8. Singapore (3)
9. Washington (8)
10. Seoul (9)
11. Toronto (7)
12. Shanghai (17)
13. Beijing (18)
14. Sydney (19)
15. Boston (14)
16. San Francisco (13)
17. Osaka (12)
18. Dubai (15)
19. Moscow (24)
20. Zurich (25)
21. Kuala Lumpur (16)
22. Sao Paolo (21)
23. Taipei (23)
24. Buenos Aires (29)
25. Dallas (20)
26. Bangkok (27)
27. Milan (22)
28. Istanbul (32)
29. Mexico City (34)
30. Amsterdam (Randstad) (35)
31. Guangzhou/Foshan (26)
32. Geneva (36)
33. Oslo (28)
34. Melbourne (38)
35. Shenzhen (30)
36. Philadelphia (31)
37. Frankfurt (41)
38. Copenhagen (33)
39. Berlin (43)
40. Vienna (45)
41. Montreal (46)
42. Tianjin (37)
43. Mumbai (48)
44. Jakarta (39)
45. Chongqing (40)
46. Stockholm (51)
47. Wuhan (42)
48. Dublin (52)
49. Rhine-Ruhr (Dusseldorf) (44)
50. Brussels (54)
51. Houston (55)
52. Lagos (47)
53. Madrid (new)
54. Delhi (49)
55. Manila (50)
Doha drops off.
1. New York (1)
2. London (2)
3. Paris (5)
4. Tokyo (4)
5. Hong Kong (10)
6. Los Angeles (11)
7. Chicago (6)
8. Singapore (3)
9. Washington (8)
10. Seoul (9)
11. Toronto (7)
12. Shanghai (17)
13. Beijing (18)
14. Sydney (19)
15. Boston (14)
16. San Francisco (13)
17. Osaka (12)
18. Dubai (15)
19. Moscow (24)
20. Zurich (25)
21. Kuala Lumpur (16)
22. Sao Paolo (21)
23. Taipei (23)
24. Buenos Aires (29)
25. Dallas (20)
26. Bangkok (27)
27. Milan (22)
28. Istanbul (32)
29. Mexico City (34)
30. Amsterdam (Randstad) (35)
31. Guangzhou/Foshan (26)
32. Geneva (36)
33. Oslo (28)
34. Melbourne (38)
35. Shenzhen (30)
36. Philadelphia (31)
37. Frankfurt (41)
38. Copenhagen (33)
39. Berlin (43)
40. Vienna (45)
41. Montreal (46)
42. Tianjin (37)
43. Mumbai (48)
44. Jakarta (39)
45. Chongqing (40)
46. Stockholm (51)
47. Wuhan (42)
48. Dublin (52)
49. Rhine-Ruhr (Dusseldorf) (44)
50. Brussels (54)
51. Houston (55)
52. Lagos (47)
53. Madrid (new)
54. Delhi (49)
55. Manila (50)
Doha drops off.
Tuesday, June 3, 2014
M6 up 0.75% since April 1
M6 | 03/31/14 | 05/31/14 |
M2 | 11149.5 | 11274.8 |
Public Debt | 12616.9 | 12538.0 |
Fed Owned | -2311.5 | -2368.5 |
G30 stocks | 6974.4 | 7197.0 |
28429.3 | 28641.3 | |
0.75% |
I'm using 3/31/14 as the base because I think it was the peak. What does this all mean? I think you want this number to increase about 0.5% per month on average, so it is slightly below where we want it to be.
Top Cities #19
Influenced by Citigroup 2025 City Competitiveness rankings. Prior ranking in parens, competitiveness score in brackets. Compare to prior list.
1. New York (3) [75.7]
2. London (3) [73.1]
3. Singapore (5) [71.2]
4. Tokyo (4) [68.0]
5. Paris (1) [67.0]
6. Chicago (8) [65.6]
7. Toronto (6) [64.7]
8. Washington/Baltimore (9) [63.2]
9. Seoul/Incheon (10) [63.0]
10. Hong Kong (15) [68.1]
11. Los Angeles (11) [62.7]
12. Osaka (7) [54.5]
13. San Francisco (14) [62.5]
14. Boston (18) [62.3]
15. Dubai (16) [61.3]
16. Kuala Lumpur (17) [58.9]
17. Shanghai (12) [57.3]
18. Beijing (13) [54.9]
19. Sydney (22) [67.3]
20. Dallas (23) [58.6]
21. Sao Paolo (19) [57.5]
22. Milan (24) [53.0]
23. Taipai (28) [64.1]
24. Moscow (20) [52.5]
25. Zurich (30) [64.1]
26. Guangzhou/Foshan (21) [45.2]
27. Bangkok (27) [52.0]
28. Oslo (33) [60.8]
29. Buenos Aires (25) [49.9]
30. Shenzhen (26) [49.4]
31. Philadelphia (36) [55.0]
32. Istanbul (29) [49.3]
33. Copenhagen (38) [63.0]
34. Mexico City (31) [49.0]
35. Amsterdam (Randstad) (40) [63.8]
36. Geneva (41) [59.4]
37. Tianjin (32) [46.7]
38. Melbourne (43) [62.0]
39. Jakarta (34) [48.0]
40. Chongqing (35) [41.0]
41. Frankfurt (46) [62.0]
42. Wuhan (37) [-]
43. Berlin (48) [57.7]
44. Rhine-Ruhr (Dusseldorf) (39) [-]
45. Vienna (50) [60.4]
46. Montreal (49] [57.5]
47. Lagos (42)
48. Mumbai (44) [54.3]
49. Delhi (47) [53.3]
50. Manila (45) [47.1]
51. Stockholm (new) [65.7]
52. Dublin (new) [61.4]
53. Doha (new) [61.1]
54. Brussels (new) [61.0]
55. Houston (new) [60.7]
1. New York (3) [75.7]
2. London (3) [73.1]
3. Singapore (5) [71.2]
4. Tokyo (4) [68.0]
5. Paris (1) [67.0]
6. Chicago (8) [65.6]
7. Toronto (6) [64.7]
8. Washington/Baltimore (9) [63.2]
9. Seoul/Incheon (10) [63.0]
10. Hong Kong (15) [68.1]
11. Los Angeles (11) [62.7]
12. Osaka (7) [54.5]
13. San Francisco (14) [62.5]
14. Boston (18) [62.3]
15. Dubai (16) [61.3]
16. Kuala Lumpur (17) [58.9]
17. Shanghai (12) [57.3]
18. Beijing (13) [54.9]
19. Sydney (22) [67.3]
20. Dallas (23) [58.6]
21. Sao Paolo (19) [57.5]
22. Milan (24) [53.0]
23. Taipai (28) [64.1]
24. Moscow (20) [52.5]
25. Zurich (30) [64.1]
26. Guangzhou/Foshan (21) [45.2]
27. Bangkok (27) [52.0]
28. Oslo (33) [60.8]
29. Buenos Aires (25) [49.9]
30. Shenzhen (26) [49.4]
31. Philadelphia (36) [55.0]
32. Istanbul (29) [49.3]
33. Copenhagen (38) [63.0]
34. Mexico City (31) [49.0]
35. Amsterdam (Randstad) (40) [63.8]
36. Geneva (41) [59.4]
37. Tianjin (32) [46.7]
38. Melbourne (43) [62.0]
39. Jakarta (34) [48.0]
40. Chongqing (35) [41.0]
41. Frankfurt (46) [62.0]
42. Wuhan (37) [-]
43. Berlin (48) [57.7]
44. Rhine-Ruhr (Dusseldorf) (39) [-]
45. Vienna (50) [60.4]
46. Montreal (49] [57.5]
47. Lagos (42)
48. Mumbai (44) [54.3]
49. Delhi (47) [53.3]
50. Manila (45) [47.1]
51. Stockholm (new) [65.7]
52. Dublin (new) [61.4]
53. Doha (new) [61.1]
54. Brussels (new) [61.0]
55. Houston (new) [60.7]
Sunday, June 1, 2014
G30 as of May 31
G30 as of 5/31/2014 | ||||||||
Shares (M) | Shares (M) | Price | Price | Total (M) | Total (M) | |||
Rank | Symbol | Company | 03/31/14 | 05/31/14 | 03/31/14 | 05/31/14 | 03/31/14 | 05/31/14 |
1 | AAPL | Apple Inc | 891.99 | 861.38 | 536.74 | 633.00 | 478,767 | 545,254 |
2 | XOM | Exxon Mobil | 4320 | 4290 | 97.68 | 100.53 | 421,978 | 431,274 |
3 | GOOG | 336.05 | 674.49 | 1,114.51 | 559.89 | 374,531 | 377,640 | |
4 | MSFT | Microsoft | 8300 | 8260 | 40.99 | 40.94 | 340,217 | 338,164 |
5 | BRK-A | Berkshire Hath | 1.65 | 1.64 | 187,350 | 192,000 | 309,128 | 314,880 |
6 | JNJ | Johnson Johnson | 2820 | 2830 | 98.23 | 101.46 | 277,009 | 287,132 |
7 | GE | General Electric | 10030 | 10040 | 25.89 | 26.79 | 259,677 | 268,972 |
8 | WFC | Wells Fargo | 5260 | 5260 | 49.74 | 50.78 | 261,632 | 267,103 |
9 | RDS-B | Royal Dutch Shell | 3150 | 3160 | 78.11 | 81.84 | 246,047 | 258,614 |
10 | NSRGY | Nestle | 3190 | 3190 | 75.22 | 78.57 | 239,952 | 250,638 |
11 | WMT | Wal-Mart | 3230 | 3230 | 76.43 | 76.77 | 246,869 | 247,967 |
12 | CVX | Chevron | 1910 | 1900 | 118.91 | 122.79 | 227,118 | 233,301 |
13 | SSNLF | Samsung | 130.92 | 150.78 | 1,220.00 | 1,500.00 | 159,722 | 226,170 |
14 | NVS | Novartis | 2430 | 2450 | 85.02 | 90.06 | 206,599 | 220,647 |
15 | PG | Proctor Gamble | 2710 | 2710 | 80.60 | 80.79 | 218,426 | 218,941 |
16 | JPM | JP Morgan Chase | 3760 | 3790 | 60.71 | 55.57 | 228,270 | 210,610 |
17 | VZ | Verizon | 4140 | 4140 | 47.57 | 49.96 | 196,940 | 206,834 |
18 | HSBC | HSBC Holdings | 3750 | 3860 | 50.83 | 52.72 | 190,613 | 203,499 |
19 | PFE | Pfizer | 6380 | 6380 | 32.12 | 29.63 | 204,926 | 189,039 |
20 | ORCL | Oracle | 4460 | 4460 | 40.91 | 42.02 | 182,459 | 187,409 |
21 | IBM | IBM | 1040 | 1010 | 192.49 | 184.36 | 200,190 | 186,204 |
22 | T | ATT | 5210 | 5210 | 35.07 | 35.47 | 182,715 | 184,799 |
23 | BHP | BHP Billiton | 2660 | 2660 | 67.77 | 67.88 | 180,268 | 180,561 |
24 | KO | Coca Cola | 4410 | 4410 | 38.66 | 40.91 | 170,491 | 180,413 |
25 | BUD | Anheuser-Busch | 1610 | 1610 | 105.30 | 109.92 | 169,533 | 176,971 |
26 | MRK | Merck | 2940 | 2920 | 56.77 | 57.86 | 166,904 | 168,951 |
27 | FB | 2550 | 2570 | 60.24 | 63.30 | 153,612 | 162,681 | |
28 | BAC | Bank of America | 10570 | 10520 | 17.20 | 15.14 | 181,804 | 159,273 |
29 | TOT | Total SA | 2270 | 2270 | 65.60 | 69.45 | 148,912 | 157,652 |
30 | BP | BP plc | 3100 | 3080 | 48.10 | 50.45 | 149,110 | 155,386 |
6,974,414 | 7,196,979 | |||||||
103.19% |
I'm using 3/31/14 as a basis to compare instead of 4/30 because I think that April 1 was a peak.
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