Continue reading Closing Bell: No Double-Dip Recession Here (ASF, BAC, CRL, GENZ, HUM, RIMM)

Closing Bell: No Double-Dip Recession Here (ASF, BAC, CRL, GENZ, HUM, RIMM) originally appeared on BloggingStocks on Mon, 02 Aug 2010 16:20:00 EST. Please see our terms for use of feeds.

First things first, the United Arab Emirates (UAE) and Saudi Arabia are not banning the BlackBerry device produced by Research in Motion Limited (RIMM). What is being suspended is BlackBerry mobile services like e-mail and text messaging. The supposed ban will start in October.

This ban stems from a dispute between the UAE and RIM concerning RIM's encrypted data system. The system makes government monitoring of data more difficult. The problem for RIM is that such a move could be followed by other countries in the region, as Kuwait and Bahrain have also raised concerns over the data encryption.

Continue reading Service Cuts May Send BlackBerry Users in Middle East to RIM's Competitiors

Service Cuts May Send BlackBerry Users in Middle East to RIM's Competitiors originally appeared on BloggingStocks on Mon, 02 Aug 2010 11:40:00 EST. Please see our terms for use of feeds.

One of the things that really helps the U.S. balance of trade is weapons sales. In a recession, perhaps they should be encouraged more.

According to Reuters, Iran's Gulf neighbor, the United Arab Emirates, has signed a deal worth $3.3 billion to buy missiles from U.S. firm Raytheon (NYSE: RTN).

The Census Bureau reports that the October balance of trade was a negative $57 billion. A lot of that could be made up by selling missiles, tanks, rifles, and war planes. The Department of Defense has to approve most of the sales, but perhaps it should be annexed to the Department of the Treasury, at least until the recession is over. Some of the countries where a lot of sales are prohibited, like North Korea, could be added to the "OK to export weapons" list?

In September, The New York Times reported that "From tanks, helicopters and fighter jets to missiles, remotely piloted aircraft and even warships, the Department of Defense has agreed so far this fiscal year to sell or transfer more than $32 billion in weapons and other military equipment to foreign governments, compared with $12 billion in 2005." Up that number to $100 billion and think of the jobs it would create.

Weapons sales are not on the new Obama list of plans to create 2.5 million jobs by spending $800 billion. And, selling weapons does not cost the government at dime.

Douglas A. McIntyre is an editor at 247wallst.com.

Helping the economy by selling weapons originally appeared on BloggingStocks on Sat, 20 Dec 2008 11:40:00 EST. Please see our terms for use of feeds.

News that the European Commission is planning to adopt proposals next week that will ask sovereign wealth funds to accept a code of conduct to govern their investment activities, raises the question if the U.S. government should take a look at the impact these funds may have on U.S. security.

Peter Mandelson, the European trade commissioner, said the code will outline standards of governance and transparency for such funds.

"The emphasis in their investments should be on commercial motivations, not national or strategic considerations. I think such a code is possible to draw up and would get acceptance from the wealth funds," the report quoted Mandelson as saying.

German companies, for example, are worried that China will steal their intellectual property or that Russian President Vladimir Putin wants to use such investments "as a political instrument," according to European Member of Parliament Wolf Klinz.

Continue reading Are sovereign wealth funds a threat to national security?

Are sovereign wealth funds a threat to national security? originally appeared on BloggingStocks on Sun, 24 Feb 2008 11:10:00 EST. Please see our terms for use of feeds.