Teen Traders' Blog

-The initial public offer (IPO) of the private sector shipbuilder, Pipavav Shipyard got subscribed 1.36 times on Day 1, according to the data available on the NSE. The company received bids for 95.62 million shares as against 70.17 million shares on offer. BusinessStandard

-Corus to start Port Talbot unit on rising demand:Report.IIFL

-Tata Steel soars 8% to new 52-week high.BusinessStandard

-Ruias-led Essar Steel has sought government approval for exporting iron ore produced as waste in the process to make steel and said it would earn up to $35 million if such shipments were allowed.BusinessStandard.

-Old Models must change for economic recovery to be sustainable:WEF.IIFL

-State-run Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is losing about Rs 79 crore per day on selling auto and cooking fuel below cost.BusinessStandard

 Tata Consultancy Services, a leading IT services, business solutions and outsourcing firm, announced the opening of a new Global Delivery Centre in Buenos Aires, Argentina – the first company to officially inaugurate its facilities in the new Technology District of the city of Buenos Aires.BusinessStandard

-Aditya Birla Group’s Spice Communications soared 8.75% to Rs 78.95 on bargain hunting after the stock corrected 10.48% in the preceding two trading sessions to Rs 72.60 on Friday, 11 September 2009. The scrip topped the gainers in the BSE’s ‘A’ group.IndiaInfoline

-Indian real estate market is on its way to recovery: Makaan.com survey.

-Sun Pharma gets US anti-trust clearance for open offer.BusinessStandard

-China files WTO case over tire tariffs, Obama says they are aimed at making trade systems work.YahooFinance

-Compton Greaves, a unit of Avantha Power & Infrastructure, is reportedly interested in bidding for Areva SA’s transmission and distribution unit and has sought information on the sale.IndiaInfoline

-Real estate developer HDIL has agreed to pay tax on additional income of Rs 350 crore following raids by the revenue department, the company said in a statement today, denying it had done any wrong.BusinessStandard

-Tata Motors unveils Tata SK 407 Tipper in Keral.IndiaInfoline

-Magna: 10,500 Opel jobs in Europe could be cut. YahooFinance

-Indian drivers not good enough for F1: Mallya.BusinessStandard.

-Oil India IPO priced at Rs 1,050/share; listing on Sep 30.EconomicTimes

-Tata Motors raises Rs 236 cr via share sale in Tata Steel.BusinessStandard.

-Wipro Ltd, India’s No 3 software services firm, is seeing a pick-up in growth momentum in Europe in this quarter on increased outsourcing and stability in billing rates, a senior official said on Monday. EconomicTimes
-Omaxe to build township in Lucknow, eyes Rs 2,800 cr revenue-BusinessStandard.

Xe the private military company , formerly known as Blackwater Worldwide is involved in yet another controversy from its Iraqi military aid operations.

Four men told to be affiliated with the company’s Iraqi subsidiary fired on an approaching vehicle killing at least 2 Iraqi civilians according to US Army .

The guards who are suspected to be drinking that evening had attacked the suspected vehicle  on the 5th of May. Their contracts have been terminated by Paravant LLC, Xe’s subsidiary, for violation of the terms of contract.

The incident happened Two days before Xe was to be replaced Triple Canopy Inc. The contract was awarded to Triple Canopy Inc for $977 on April 1, 2009 but came into effect on 7th May,2009. But still Xe/Blackwater is suspected to be profiting from the contract as Iraqi officials think that Triple Canopy may subcontract a portion of its Iraqi Contract to the Xe group.

In January 2008, Marshall Adame, a Democrat who had served as a State Department official in Iraq recounted incidents and told how the Falcon group’s Guard had been harsh and violent. He told,”I saw them shoot people, I saw them crash into cars while I was their passenger. There was absolutely no reason, no provocation whatsoever,” and stated that “There is no place in the American force structure, or in American culture for mercenaries, they are guns for hire; No more, no less.”

Mr. Eric Prince are you listening?

Oprah Winfrey whos name itself has become one of the biggest brands in history and the host of the multi-award winning talk show, which has become the highest-rated program of its kind in history has topped the list of The Wealthiest Black Americans compiled By Forbes. She is THE media personality behind O, The Oprah Magazine and O at Home, The Oprah Winfrey Show etc earns nearly $200mn yearly from her brands. She is said to be amongst those few who have weathered the recession. She has a net worth of $2.7bn and the only billionaire on the 20 member  list, all of whom are self made.

BET (Black Entertainment Television founder) Robert Johnson who sold BET to Viacom for $3bn is third on the list though his current net worth has been down drastically to $550 mn and his wife Sheila Johnson, ranks seventh with $400 million.

The second on the list is Tiger Woods, worth an estimated $600 million. Tiger Woods who has become nearly synonymous with Golf has is a Lord in the Game winning 66 PGA tournaments–including 14 major championships.His prize Money represents just 15% of his worth the rest come from the juicy sponsorships. He has sponsorships with Nike , Gatorade, Gillette, Accenture & AT&T

The other two on the Top 5 include Michael Jordan ($525 million) and Earvin “Magic” Johnson, Jr. ($500 million) the Basket Ball Einsteins.

The findings by Forbes are estimates and is said to be considered “Least Figures.”