|
Financial crisis
Signs of the timesPosted by Jeremy Goldkorn, November 27, 2008 8:07 AM
From AP:
And this item from AFP:
Wasn't the whole point of hedging to protect against losses? |
Partner Links
Jobs in China
Recent Comments
affordabe on
Blogspot unblocked, but Blogger is blocked
Adam J. Sc on
Snow in Beijing
Peter Kauf on
Bound feet in China
Media Partners
Visit these sites for the latest China news
China Media Timeline
Major media events over the last three decades
Danwei Model Workers
 Recommended blogs and new media
Books on China
 Xujun Eberlein's Apologies Forthcoming: Hong Kong's Blacksmith Books has published a short story collection by Xujun Eberlein.
Princess Der Ling: Two Years in the Forbidden City: Two years in the Forbidden City is largely a reminiscence of the minutiae of life for one of history's most powerful women, by one of her court attendants, a Manchu noble's daughter by the name of Der Ling.
Carl Crow's The Long Road Back to China: In 1939 Carl Crow - an American journalist, advertising executive and author who had lived in Shanghai for 25 years until forced out by the Japanese - travelled up the Burma Road from Rangoon to Chongqing on assignment for Liberty magazine － 'the most interesting assignment I have ever been given'.
Front Page of the Day
A different newspaper every weekday
From the Vault
Classic Danwei posts
+ The 'national' in National Day (2006.10): Xiao Feng writes about China's national flavor, national curse, national bird, national car, and so forth, Dongfang Yu writes on the true meaning of China's National Day in the age of angry youth. + Don't ask so laowai don't have to tell (2008.07): An essay was written by Geremie Barmé, scholar, filmmaker and author of the new book The Forbidden City. + Religion and government in an uneasy mix (2008.03): Phoenix Weekly (凤凰周刊) article from October, 2007, on government influence on religious practice in Tibet.
Danwei Archives
Danwei Feeds
Via Feedsky
 (on the mainland)or Feedburner  (blocked in China) Main feed: Main posts (FB has top links) Top Links: Links from the top bar Danwei Jobs: Want ads Danwei Digest: Updated daily, 19:30 |
 |
Chinese media, advertising, and urban life. |
|
tweet
facebook
bookmark
HaoHao
digg
Comments on Signs of the times
With regard to fuel hedging, yes the purpose was to limit losses. But if when oil was on the way up you bought a bunch of hedges to lock in fuel purchases at an assumed price of $100 per barrel, you're screwed now. There's always an implicit bet in a hedge. No one though oil was going to collapse back to $50.
I don't get it. Company was oriented on export. Crisis struck USA. Company couldn't sell enough to keep up. It is very normal.
@mile "About the same time, Tao and his wife, Yan Qi, disappeared after allegedly burning the company's accounting records," and probably took all the money they could get their hands on and tried to skip town on their creditors. this is usually frowned upon.
Sadly, Mr Tao's action was very normal. According to the 'Economist' article linked above, most insolvent Chinese firms wind down with criminal (rather than bankruptcy) proceedings, or a bailout.