Petters defense: Put financiers, funds on trial Nov 6, 2009
When the defense attorney Paul Engh cross-examined Gregg Colburn, a partner at who testified earlier this week, Engh s questions included why hedge funds are often based in the Cayman Islands, and what fees they charge investors. Engh also asked Colburn how much Interlachen stood to gain if its investment in Petters had paid off as expected. (Twin Cities Business Journal, MN)
Caribbean news briefs Nov 6, 2009
Some coral bleaching was recorded this year in the Cayman Islands, according to Eakin and scientists in the British Caribbean dependency. SAN JUAN, Puerto Rico - A shootout at a Puerto Rico bar has claimed another victim: the singer who was about to perform before gunmen burst in. (OregonLive, OR -- News)
Why did blue-chip Goldman take a walk on subprime's wild side? Nov 5, 2009
"Lee said that his office processed 2,000 to 2,500 loans each month, and he could recall few that weren't approved with an "exception" waiving a key financial issue that otherwise might've torpedoed the deal.Missal's examiner's report estimated that 40 percent of the company's mortgages were "liars' loans" because any income claim on an application was accepted as truthful. A SIVA meant "some incom 0000165E e, verified assets," but it went downhill to the NINA no income, no assets.Lee said he... (Anchorage Daily News)
Goldman got cozy with loan star that crashed and burned Nov 4, 2009
Tuesday: How Goldman Sachs unloaded toxic assets on vulnerable foreign investors through Cayman Islands deals ... In May, weeks after New Century's bankruptcy filing, Goldman started selling securities backed by New Century mortgages in a secret deal based in the Cayman Islands, a tax haven for U.S. companies. (Anchorage Daily News)
Dennis Jones : Text Based Paintings Nov 4, 2009
Stephanie Rew - UK - UK Carl White - USA - USA - USA - SPAIN - CAYMAN ISLANDS. Kathy Donofrio "Mormon Cricket Crusade video". (AbsoluteArts.com)
Goldman Sachs bet on housing crash Nov 4, 2009
Tuesday: How Goldman Sachs unloaded toxic assets on vulnerable foreign investors through Cayman Islands deals ... Used offshore tax havens to shuffle its mortgage-backed securities to institutions worldwide, including European and Asian banks, often in secret deals run through the Cayman Islands, a British territory in the Caribbean that companies use to bypass U.S. disclosure requirements. (Anchorage Daily News)
Our view: Market? No, jungle Nov 4, 2009
Cayman Islands for escape from federal regulation. Bets on a housing collapse. (Anchorage Daily News)
Goldman left foreign investors holding subprime bag Nov 3, 2009
Today: How Goldman Sachs unloaded toxic assets on vulnerable foreign investors through Cayman Islands deals ... The transaction was registered through a shell company in the Cayman Islands ... The secret Cayman Islands deals provide a window into one method that Goldman and other Wall Street firms used to draw European banks and other foreign financial institutions into investing hundreds of billions of dollars in securities tied to risky U.S. home loans. (Anchorage Daily News)
From Greg Gordon at McClatchy Nov 3, 2009
"For the past year, Goldman has been on the defensive over its Washington connections and the billions in federal bailout funds it received. Scant attention has been paid, however, to how it became the only major Wall Street player to extricate itself from the subprime securities market before the housing bubble burst.Goldman remains, along with Morgan Stanley, one of two venerable Wall Street investment banks still standing. Their grievously wounded peers Bear Stearns and Merrill Lynch fell... (Harper's Magazine)
directNIC, Ltd. Announces a FREE Trip to Domainer Mardi Gras 2010 Promotion Nov 3, 2009
GRAND CAYMAN, Cayman Islands, Nov. 2 /PRNewswire/ -- directNIC, Ltd., a leading full-service ICANN accredited registrar, today announced the "directNIC, Ltd. Win a Trip to Domainer Mardi Gras 2010" promotion. The promotion will reward one directNIC, Ltd., client with a trip to New Orleans, Louisiana to attend the fastest-growing domain names conference Domainer Mardi Gras 2010 (). (Yahoo! Wire -- Entertainment News)
Health Care Plan Hits Rich with More Taxes Nov 3, 2009
The rich are not sending cash to the Cayman Islands or Switzerland because they are fine citizens who pay taxes as they should. All anyone needs to know is that people who make $250,000 and under will not be paying more taxes for health care reform. (CBS News -- Health)
Goldman Sachs mortgage sent couple into bankruptcy Nov 2, 2009
Tuesday: How Goldman Sachs unloaded toxic assets on vulnerable foreign investors through Cayman Islands deals. Wednesday: An examination of New Century Financial Corp., which originated many subprime mortgages that Goldman unloaded on others. (Anchorage Daily News)
Court documents portray ex-NBA player Rumeal Robinson as a reckless overspender who resorted to swindling Nov 1, 2009
Prime minister of Cayman Islands came in, so maybe he ll pay. I don t know. (Boston Globe)
Delaware Beats Switzerland as Most Secretive Financial Center Nov 1, 2009
The Cayman Islands and the United Kingdom round out the top five. "While the U.S. has been jumping up and down and saying 'Aha, bad, wicked Swiss banks,' the U.S. is doing exactly the same things as far as non-resident bank account holders," said Sarah Lewis, executive director of the group, based in the U.K.. (ABC News -- Business)
Future Fund enjoys tax break in Cayman Islands Oct 30, 2009
The Future Fund has been caught enjoying a tax break in the Cayman Islands ... AUSTRALIA'S $60 billion Future Fund is sending money to the Cayman Islands to try to minimise its tax bill ... A progress report released last week showed the Cayman Islands was prepared to exchange tax information with 12 countries, but these do not include Australia. (Sydney Morning Herald -- Business)
Verizon says iPhone challenger goes on sale Nov. 6 Oct 30, 2009
Shares in Garmin, based in the Cayman Islands with headquarters in Olathe, Kan. fell $4. (Orangeburg Times and Democrat, SC)
Underwater Exploration: Autosub6000 Dives To Depth Of 3.5 Miles Oct 29, 2009
Autosub6000 is now being prepared for a cruise on board the RRS James Cook to the Caribbean Sea near the Cayman Islands in April 2010, where it will be used in conjunction with the remotely operated vehicle Isis to search for deep hydrothermal vents. Adapted from materials provided by. (Science Daily)
Early-season Caribbean savings from $97/night Oct 29, 2009
Three- to seven-night getaways are also available in the Bahamas, the Cayman Islands, Los Cabos, and more with prices starting from just $499. Plus, Top 25 subscribers are eligible for an exclusive discount of $50 off per booking. (MSNBC -- Travel)
Greenlight Capital Re to Release Third Quarter 2009 Results Oct 29, 2009
GRAND CAYMAN, Cayman Islands, Oct. 28, 2009 (GLOBE NEWSWIRE) -- Greenlight Capital Re, Ltd. (Nasdaq: - ), a specialist property and casualty reinsurer based in the Cayman Islands, today announced that it will release financial results for the third quarter 2009 on Monday, November 2, 2009 ... Greenlight Re () is a specialist property and casualty reinsurance company based in the Cayman Islands. (Primezone Releases)
Enron Reborn as AEI's $800 Million IPO Tests Investor Appetite for Power Oct 29, 2009
The company was set to begin trading on the New York Stock Exchange under the ticker AEI. The George Town, Cayman Islands- based company planned to sell 16. 7 million shares in its portion of the IPO, equal to about 33 percent of the total, according to a regulatory filing. (Bloomberg -- US)
Do you have a favorite Caribbean getaway? Oct 29, 2009
In years past I ve visited the Cayman Islands, Bahamas, Bermuda, Jamaica, Puerto Rico and the Mexican Riviera. I d recommend against Aruba, it s just not that nice, and there s not much to see. (Atlanta Journal-Constitution -- Travel)
Bolivia Natural-Gas Industry Losing Clients, Former President Quiroga Says Oct 26, 2009
and Cayman Islands- based pulled out of the country after Morales seized oil and gas fields and refineries in 2006. Bolivia, South Americas poorest nation, relies on gas for half its export income. (Bloomberg -- Latin America)
A soft spot for the girl next door is going like greased lightning Oct 24, 2009
And what happened to the global professerati, flitting from Sydney to London to the Cayman Islands. In Newsweek this month, the American urban development scholar Joel Kotkin noted a fall in American movers. (Sydney Morning Herald -- Opinion)
Ben Vereen: Song, dance and dive man Oct 24, 2009
"I found myself at a scuba dive lesson. They didn't even ask me if I could swim. I couldn't. I did it and wow, it was like flying, only underwater. I've gone diving in China and the Cayman Islands. I still want to dive the Red Sea and the Greek isles, but Hawai'i is the best."To be cleared to dive with Type 2 diabetes, you have to check with your doctor, exercise to stay in shape, eat right, and always be checking the blood sugar. "About the car crash: "That tree just jumped in front of my car... (Honolulu Advertiser)
Helping lizards roam the earth Oct 22, 2009
Teen, mother volunteer with iguana recovery project in Cayman Islands Helping save iguanas becomes a 'blessing ... This summer they spent two weeks in the Cayman Islands as volunteers with the Blue Iguana Recovery Program ... The program is the brainchild of biologist Fred Burton, who visited the Cayman Islands in 2000 to count the blue iguana population. (Half Moon Bay Review, CA)
ASIC puts urgent stop order on funds Oct 21, 2009
For example, in the case of the Macquarie Winton Global Opportunities Trust, the securities held by the Cayman Islands special-purpose vehicle are guaranteed by Goldman Sachs. The Strategic Fund made no such disclosure, noting simply that the British Virgin Islands entity EMA International was a special-purpose vehicle and there was counter-party risk if EMA became insolvent or failed to comply with the obligations of its agreement. (Sydney Morning Herald -- Business)
Cayman Islands: A Tropical Home Away from Home Oct 20, 2009
Second Homes in Cayman Islands - ABC News ... Second Homes in Cayman Islands ... The Cayman Islands Have Much to Offer U.S. Buyers Seeking a Second Home. (ABC News)
Johnson Preps For Party-crashing Role At Dawson Homecoming Oct 16, 2009
He's earned his "Road Warrior" nickname along the way as well, fighting in England, Germany, Italy, the Netherlands Antilles, Aruba, the Bahamas and the Cayman Islands. Not to mention 14 of the 50 U.S. states -- including a win and a draw in Connecticut. (ABC 7 News, DC)
How a humble Hong Kong hairdresser became football's invisible man Oct 15, 2009
Yeung is the chairman and an executive director of Grandtop, an investment, entertainment and sportswear firm that was incorporated in the Cayman Islands. According to company records, Grandtop has not made any profits for the past four years. (Sydney Morning Herald -- Sport)
Renowned Marine Wildlife Artist and Conservationist Dr. Guy Harvey to be Inducted Into IGFA Fishing Hall of Fame Oct 15, 2009
"Joining the ranks of people like Ernest Hemingway and Zane Gray is a tremendous honor," said Harvey, who now resides in the Cayman Islands. Around the world, Harvey is known for his marine paintings, graphics, books and other artistry. (Yahoo! Wire -- Entertainment News)
America's tax evaders emerge from the shadows Oct 14, 2009
It is a world of bank accounts held under corporate names in , Hong Kong, the Cayman Islands and elsewhere ... For at least the last decade, Chernick managed foreign accounts in Switzerland and the Cayman Islands via telephone, fax, e-mail and occasional U.S. hotel and Zurich meetings with UBS bankers and other Swiss financial advisers. (USA Today -- Money)
U.S. Tax Amnesty Deadline Approaches Oct 13, 2009
Press said he has been contacted by clients in Colombia, Panama and the Cayman Islands, all with different banks. The program is designed for Americans with large balances. (Law.com)
There are 18,857 firms in this one building! Oct 10, 2009
And, Ugland House is no exception - in 2008, Cayman Islands had over 80,000 registered companies, more than its population of about 48,000 ... Cayman Islands is one of the world's top offshore financial centres, as these tax havens prefer to be called ... As of 2007, US banking liabilities to the Cayman Islands were the highest of any foreign jurisdiction, at nearly $1. (India Times, India -- Intl Business)
Paradis Fiscaux: Inside the tax haven Oct 10, 2009
If your money is stashed away in Switzerland or the Cayman Islands, you could sleep easy ... These include countries (like Switzerland and Liechtenstein), dependencies and territories (like the British Virgin Islands or Cayman Islands) and special zones within countries where a separate legal system has been 'ring-fenced' to provide tax benefits (like in New York or Malaysia). (India Times, India -- Intl Business)
3 price points: Grand Cayman Oct 9, 2009
Dave Rogers Boats over the reefs of the Cayman Islands city of George Town can be viewed from the Camana Bay observation tower. Peter Ruck Stingray City is a popular spot for diving enthusiasts who get up close and personal with the fish. (Atlanta Journal-Constitution -- Travel)
Duncalf and Waters in Nicols way at Hong Kong Open Oct 8, 2009
She stormed back to bag the Cayman Islands Open, Texas Open, Seoul Open, Malaysian Open and the Singapore Masters but failed in the defence of the British Open title, losing to Madeline Perry of Ireland in the quarter-finals. The other Malaysian woman for the Hong Kong Open is national No. 2 two and World No. 25 Delia Arnold, who faces an uphill task against British Open champion and third seed Rachael Grinham of Australia in the first round. (The Star Online, Malaysia -- Sports)
Top chili cooks are heading to West Virginia Oct 8, 2009
Competitors must first win a regional title from among dozens held around the United States, Canada and even the Cayman Islands. A last-chance cook-off will enable 10 previous nonqualifiers to get into the finals. (Coos Bay-North Bend The World, OR)
GPS + smartphone = grrrrrr! Oct 8, 2009
Garmin, based in the Cayman Islands with headquarters in Olathe, Kan. said Tuesday AT will begin selling the nuvifone G60 on an exclusive basis beginning Oct. 4 at ATes and online. (Fresno Bee -- Business)
Taxing question wrestles haven to the ground Oct 5, 2009
Mr Bush is desperately trying to find a way out of his quandary, caught between the demands of local business leaders to keep things the way they are and insistence from London that the economic model of the Cayman Islands must change ... Perhaps not, but there is no getting around the fact that the balmy days for exotic offshore financial centres like the Cayman Islands could be coming to an end. (Sydney Morning Herald -- Business)
Chiliheads, unite! World cook-off comes to WVa Oct 4, 2009
Competitors must first win a regional title from among dozens held around the United States, Canada and even the Cayman Islands. A "last-chance" cook-off will enable 10 previous nonqualifiers in the red chili category to get into the finals. (Longview Daily News, WA)
Taxing problem for the Caymans Oct 3, 2009
FOR years it was the offshore centre of choice for the world's hedge funds, but Cayman Islands has admitted it may have to begin a new life as a tax haven with taxes ... The Cayman Islands Government has also signalled that it is ready to cave in to British conditions on slashing government expenditure and an independent report on reform of its tax system that could see it start to impose direct levies to obtain further loans worth $CI229 million ... The Cayman Islands authorities say Britain... (Sydney Morning Herald -- Business)
AT&T to start selling Garmin nuvifone in Oct. Sep 30, 2009
Garmin, based in the Cayman Islands with headquarters in Olathe, Kan. said Tuesday AT&T Inc. will begin selling the nuvifone G60 on an exclusive basis beginning Oct. 4 at AT&T stores and online. (MSNBC -- Technology)
Nebraskan brings home a taste of foreign cultures Sep 25, 2009
She's been to Mexico, the Cayman Islands, Jamaica and Brazil. And next year, she'll be going to Japan with family to visit an older brother. (Sioux City Journal, IO)
Las Vegan Disappears in Cayman Islands Sep 25, 2009
Police in the Cayman Islands have called off a search for a 60-year-old tourist from Las Vegas who went missing during a diving trip. Police identified him as Charles Lynn Titus. (KLAS-TV.com, NV)
Taxing issue Sep 25, 2009
Cayman Islands fears as debts grow ... The Cayman Islands: Long-running prosperity under threat ... At around the same time as the world's most powerful leaders gather in the US, the head of one of the world's smallest nations, the Cayman Islands, will address his people to tell them how he intends to solve their financial worries. (BBC News -- Americas)
Game offers fun lesson on financial crisis Sep 23, 2009
Set up an offshore tax shelter in the Cayman Islands and get another $50 million. But if a pipe bursts at headquarters and you need a plumber, you'll lose $50 million. (Honolulu Advertiser)
Forecast » Sep 23, 2009
Jackson, MS 39201 Last Updated: 09/23/09 05:31:19 EDT. C) Relative Humidity: 90% Barometer: 30. (The Clarion-Ledger)
Glasgow drops down finance league Sep 22, 2009
But the latest rankings see it lag behind the Cayman Islands, the Isle of Man, Taipei and Dublin. The Irish capital has also taken a tumble 13 places down the table. (BBC News -- UK)
S'pore, Hong Kong could benefit from US clampdown on taxation leaks Sep 22, 2009
" onclick="Next();" src="/images/butt_next. And to be honest, places like Singapore and Hong Kong will benefit from this flight to quality," said Steve Towers, tax partner with Deloitte e LLP. Observers said Singapore and Hong Kong offer more than just low taxes for a holding company, but facilities to support full managerial staff at low costs. Large multinationals with interests in Asia are the most likely to take notice. Tax havens have come under greater scrutiny in recent months, especially... (Channelnewsasia.com)
Offshore-bank users get until Oct. 15 to confess Sep 21, 2009
Similarly, Martin Press, a tax law specialist in Fort Lauderdale, said his firm represents applicants who had undisclosed accounts in Colombia, Panama, the Cayman Islands and elsewhere. "This is giving the IRS new information about banks all over the world that held these accounts for Americans," said Press. (USA Today -- Money)
UBS Warns U.S. Clients as Tax Amnesty Nears End Sep 19, 2009
The letter lands in the mailboxes of rich Americans as they decide whether to participate in the U.S. Internal Revenue Service's amnesty program -- a chance to reveal income in tax havens such as Switzerland, Cayman Islands and Monaco while generally avoiding prosecution. Lawyers said the UBS letters have been received by a cross section of clients -- even those with relatively modest assets of under $1 million. (ABC News -- Wire)
Huntington Bancshares Announces a $350 Million Public Offering of Common Stock and Completion of Current Discretionary Equity Issuance Program Sep 18, 2009
COLUMBUS, Ohio, Sept. 17 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: ; ) announced today that it has commenced a public offering of $350 million of its common shares. It also announced that its discretionary equity issuance program launched September 9, 2009, which resulted in the issuance of 35. (PR Newswire)
UBS Tax Net Snares U.S. Clients of Credit Suisse, Julius Baer, LGT for IRS Sep 18, 2009
an attorney at Sills Cummis & Gross in Newark, New Jersey, said his clients declared accounts at in Israel, as well as banks in the Bahamas, Granada and the Cayman Islands. After UBS customers, account holders at Zurich-based Credit Suisse are the largest group of people coming forward to the IRS, said Fink and , a lawyer at Caplin & Drysdale in Washington. (Bloomberg -- US)
Barclays' toxic assets deal slammed Sep 18, 2009
3 billion ($A14 billion) of its riskiest assets to a new company called Protium Finance, registered in the Cayman Islands and run by two Barclays bankers who resigned on completion of the deal on Wednesday. Barclays has provided Protium with a 10-year, $US12. (Sydney Morning Herald -- Business)
Meyers Movie Blog #7 - Back To School Sep 17, 2009
Teammate - Power - City/Area Protected - Time Travel - Philadelphia - Slow Time - Berlin, Germany - Control The Sun's Rays (specifically to give people painful sunburns) - Hawaii - Freeze People - Dublin,Ireland - The Force - Georgetown, Cayman Islands - Fly - The World - Sonic Speed - Victoria, British Columbia - Super Strength - Canada - Be The Mask (Jim Carrey) - Ottawa - Invincibility - The Streets of B-Rock - Be a Transformer - AmericaMike Marcou - Immortality - New York City - Fly - The... (Umassathletics.com)
Evenson-Richardson Sep 17, 2009
the Cayman Islands and Ochos Rios, the couple is making their home in Bloomington, Ind. The bride is a 2005 graduate of Princeton High School and a 2009 graduate of Olivet Nazarene University. (Princeton Bureau County Republican, IL)
Saudi Arabia's `Never Go Bust' Families Mean an End to Easy Credit in Gulf Sep 17, 2009
The Algosaibis then used a Cayman Islands court order to try to freeze $9. 2 billion of his assets, court documents show. (Bloomberg)
Katrina stamps out memories of terrible storm Ivan Sep 15, 2009
The storm was blamed for 92 deaths by the time it ended: 39 in Grenada; 25 in the United States, including 14 in Florida; 17 in Jamaica; and 11 more total in the Dominican Republican, Venezuela, the Cayman Islands, Tobago and Barbados. Michael Foley, co-owner of a waterfront restaurant at Pensacola Beach, said many of his neighbors are frustrated by the way Ivan seems lost in the national consciousness, despite its massive devastation. (Anchorage Daily News)
Great fall travel savings for young families Sep 12, 2009
Seek out a family-friendly bed and breakfast near a local attraction -- like the Lafayette Inn in Easton, Pennsylvania, near the Crayola Factory or a family-oriented festival, like the Children's Book Festival that will be held in the Cayman Islands later this fall. Want to play in the leaves. (CNN)
Taiwan's ex-president Chen gets life Sep 12, 2009
Prosecutors said last year that more than US$30 million of Chen family finances were remitted to accounts in Singapore and the Cayman Islands, then moved to Swiss bank accounts, according to Bloomberg. The former first family agreed to return US$21 million to Taiwan, the report said. (Asia Times Online)
London Suicide Connects Lehman Lesson Missed by Hong Kong Hospital Orderly Sep 11, 2009
The minibonds were all issued by a Cayman Islands-based entity called Pacific International Finance Ltd., set up by Lehman with trustees from London-based HSBC Holdings Plc ... Those funds were in turn used to invest in CDOs sold by Lehman off-balance-sheet entities in places such as Ireland and the Cayman Islands. (Bloomberg)
Lehman Monday Morning Reveals Lesson Lost With Obama as Regulator-in-Chief Sep 11, 2009
Goldman Sachs also has international reach, with more than 900 subsidiaries in places including the Cayman Islands, Mauritius, Panama and Liberia, according to an SEC filing for the year 2008. Restoring Discipline. (Bloomberg)
Paris, Brad and Barack boosting Bainimarama? Sep 10, 2009
But "nowhere in Fiji Water's glossy marketing materials will you find reference to the typhoid outbreaks that plague Fijians because of the island's faulty water supplies; the corporate entities that Fiji Water has set up in tax havens like the Cayman Islands and Luxembourg; or the fact that its signature bottle is made from Chinese plastic in a diesel-fuelled plant and hauled thousands of miles to its eco-conscious consumers". To this barrage of criticism, the company responded that it was... (Sydney Morning Herald -- Business)
Caymans Gov't Cuts Beauty Contests Amid Deficit Sep 10, 2009
There She Isn't: Saddled With Debt, Cayman Islands Nixes Beauty Pageants Till Economy Looks Up ... (AP) The Cayman Islands is sacrificing beauty for bucks ... Ulett, who represents the Tourism Ministry on the Miss Cayman Islands Committee, noted the decision is not without precedent: Officials suspended beauty pageants in 2005 after Hurricane Ivan barreled through the Caribbean, killing dozens and causing extensive damage. (CBS News -- World)
Hamm responds to Blues report Sep 9, 2009
Hamm began the audit after the Blues spent $238,000 on a Cayman Islands getaway for some employees as an incentive trip amid a national recession. The insurer's CEO Mike Unhjem was ousted by the board of directors shortly after the trip and given a $2. (Bismarck Tribune, ND)
