JP Sagenes' Blog

Philippine Stock Market FAQs

2013-12-17T08:49:00.001-08:00

Paano pag nagsara ang broker ko, lugi na ba ako?
»Hindi. Regulated ang participants sa stock market ng Philippine Stock Exchange, Inc. (PSE). In case magsara ang broker pwede mo makuha ang stocks certificate mo sa PSE at pwede mo ito ilipat sa ibang broker.

Ano ang advantage ng Stock Market?
»Sa stock market, sure yan na hindi scam, basta sa brokers ka lang na naka-list sa www.pse.com.ph mag-o-open ng account.
»Mas kikita ang pera mo kumpara sa kung pinatulog mo lang ito sa bangko.
»Mas nakakasigurado na lalago ang pera mo at hindi maglalaho kumpara sa mga networking sa tabi-tabi.

Ano ang disadvantage ng Stock Market?
»Volatile - o mabilis mag fluctuate ang presyo ng stocks.
»Kailangan ng PASENSYA dito dahil pang LONG TERM ito, kaya bawal ito sa mga taong nagmamadaling kumita. Tandaan ang stock market ay para sa pera mo na pang "Savings". Wag mo i-invest dito yung pera mo for your "cost of living".

Paano pag na-dedo ako?
»Yung stocks mo ay magiging parte ng estate properties mo na pwede manahin ng asawa mo or ng mga anak mo. Pwede mo rin maging ka-joint account ang asawa mo sa account mo kung gusto mo.

Kailangan ba tutok ka sa pag mo-monitor ng stocks mo?
»Hindi naman. Pwede mo i-check ang stocks mo anytime you want. Kahit nga once a month lang ok lang or kung kelan ka lang bibili ng stocks.

Paano pag may account na ako tapos ayaw ko na mag stock market, pwede ko ba kuhanin yung pera ko?
»Oo pwede yan. Ibenta mo lang stocks mo tapos fill out ka ng withdrawal form para ideposit ng COL Financial sa bank account mo yung pera. Pero hindi ibig sabihin nun ay pwede mo makuha ng buo yung pera mo. Mas recommended kung hintayin mo muna mag kulay green yung portfolio mo bago mo ilabas yung pera mo para buo o mas mataas pa yung pera na mailalabas mo mula sa account mo.

Ano ang kaibahan ng MUTUAL FUNDS at STOCK MARKET?
»Sa Mutual Fund, may FUND MANAGER na humahawak ng pondo mo. May mga rules siya na dapat mo sundin at siya ang nagdedesisyon kung saan iinvest ang pera mo. Siyempre, dahil expert sila at sila nagma-manage sa pagpapalago ng pera mo, less risk pero mas malaki ang charges. Kung ihahalintulad sa biyahe, nagko-commute ka lang at nagbabayad sa driver para makarating sa pupuntahan mo. Kahit ZERO knowledge ka sa stocks/mutual funds, ok lang dahil may fund manager ka.
»Sa Stock Market, ikaw ang bahala sa lahat. You make your own rules. Ikaw bahala sa kung magkano ipopondo mo at kung saan mo ito iinvest. Kung ihahalintulad sa biyahe, you drive your own car and you plan your own route para makarating sa pupuntahan mo. Risky ito KUNG HINDI KA PROPERLY EDUCATED sa stock market kasi baka magpadala ka lang sa takot mo ibenta mo lahat ang stocks mo pag nagcrash ang market. Pero kung nauunawaan mo naman ang behavior ng stocks, less risk rin ito. Investor education plays an important role.

Ano ang mas maganda MUTUAL FUNDS o STOCK MARKET?
»Ikaw lang ang makakasagot niyan kung ano ang mas maganda sa palagay mo.

May seminar ba para dito?
»Meron. pwede kayo magpa-register sa: https://www.colfinancial.com/.../home/investor_education.asp
»Mas detalyado ang paliwanag sa mga episodes ng Pesos and Sense kumpara sa 2-hour seminar ng COL Financial. Pero maganda rin kung aattend ka ng seminar sakaling may mga tanong ka pa.
»Pwede rin kayo mag-apply ng account on the spot after the seminar.

Saang stock broker maganda mag-open ng investment account?
»#1 Online Stock Broker ang COL Financial as ranked by PSE. Performance wise, lamang siya sa ibang online stock brokers like BPI Trade and others.

RCBC named country’s best banking group

2013-11-20T00:14:00.002-08:00

RIZAL Commercial Banking Corp. (RCBC) has been named the top banking group in the country by an international magazine.

RCBC received the Best Banking Group Award in the recent Banking Awards held by World Finance. This is the second time the Yuchengco-led bank has received the citation.

The award is given to banks that have developed products and services that address the needs of customers, consistently improved their financial performance and implemented sound corporate governance, the magazine said.

“Our promise to our customers still remains -- to further enhance the way they perform their banking transactions by creating smarter technologies,” RCBC President and Chief Executive Officer Lorenzo V. Tan said in a statement yesterday.

Mr. Tan said RCBC has improved its electronic banking channels, particularly for its retail banking and small and medium enterprise sectors, opening growth opportunities for its consumer market and expanding to the unbanked segment of the country.

The bank was also cited by Corporate Governance Asia for upholding sound business principles and effective policies that comply with the regulations set by the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission.

RCBC’s consolidated net income slightly dropped in the first nine months of the year to P4.71 billion from P4.78 billion recorded in the same period in 2012.

Its shares lost 3.22% or 1.5 centavos yesterday to close at P45.05 apiece from P46.55 on Monday.

http://www.bworldonline.com/content.php?section=Finance&title=RCBC-named-country’s-best-banking-group&id=79594

Pag-IBIG to invest P5B in stocks

2013-11-20T00:12:00.002-08:00

HOME Development Mutual Fund (Pag-IBIG) is setting aside P5 billion for its maiden investment in equities, an official said last Thursday.

“I’ve just gotten approval [from the board of trustees] to invest a certain percentage of our investable funds into equities,” Pag-IBIG Chief Executive Officer Darlene Marie B. Berberabe told reporters at the sidelines of the Asia CEO Awards.

Ms. Berberabe, who was given the Public Sector Leadership Award, said Pag-IBIG currently holds P330 billion in assets, with about 70% of these invested in housing-related loans.

It also has P35 billion in “free funds” for other investments -- 85% of which are in government securities, while the rest are in fixed-income assets.

“We have approval for a maximum of P5 billion to be invested in equities,” she said.

Pag-IBIG has begun screening fund managers to help the state-run agency with the investment.

“That’s what we are doing now, we are accrediting fund managers because we recognize that we don’t have that capacity. This is a first for us,” Ms. Berberabe said.

She said fund managers would be chosen based on their track record and the management fees they offer.

“We really want to be safe. This is money that members will need at a certain point. We need to return them to our members.”

While no specific timetable has been set, Pag-IBIG’s first investment in stocks will likely happen next year, she said.

Earlier this year, two other state-run financial institutions, the Government Service Insurance System and Social Security System, said they were planning to increase their exposure to equities to take advantage of attractive valuations, especially with the Philippine economy booming.

Pag-IBIG’s foray into stocks is expected to add liquidity to the local market, which is bracing for volatility should the US Federal Reserve start reducing its massive stimulus program next year.

Last year, the Philippine Stock Exchange (PSE) emerged as the third best performing bourse in the world after Turkey and Thailand.

Despite volatility this year due to concerns over the Fed’s taper plans, the benchmark index has still gained 7.83% to date. It settled at 6,267.85 points yesterday against the 2012 yearend close of 5,812.73.

Before the US central bank said it would taper its $85-billion monthly bond-buying program and sent tremors across financial markets worldwide, the PSE index hit as high as 7,392.20 on May 15 -- a gain of 27.17% for the year.

http://www.bworldonline.com/content.php?section=Finance&title=Pag-IBIG-to-invest-P5B-in-stocks&id=79596

Andrew Tan's AGI named one of Asia's top listed companies

2013-11-20T00:11:00.003-08:00

Andrew Tan-led Alliance Global Group (AGI) has been named one of the best listed companies in Asia-Pacific by Forbes Asia magazine.

Forbes Asia's Fabulous 50 is an annual list that recognizes the best performing listed companies in the Asia Pacific region.

Tan's company was a newcomer on the Fab 50 list, which also included two other Philippine companies - fast food giant Jollibee Foods Corp. and Ayala Corp.

Forbes Asia said it chose the 50 out of 1,220 companies which had at least $3 billion in annual revenue or market capitalization.

Forbes Asia cited AGI's strong revenue growth last year, on the back of healthy financial performance of Megaworld, Emperador Distillers, Golden Arches Development Corp., Travellers International Hotel Group, Inc. and Global-Estate Resorts, Inc..

"This award affirms our commitment to excellence and best practices. This is a result of the consolidated efforts of all employees of the companies under AGI who have been working hard throughout the years to help us become what we are today. We are very honored to be recognized by the world’s most admired and credible business magazine," Kevin L. Tan, Alliance Global Group, Inc. executive director and Megaworld’s first vice president and head of commercial group, said.

Forbes Asia held an award ceremony at the Regent Hotel in Beijing, China, which was attended by top Asian CEOs and businessmen.

AGI's total revenues surged 63% to P102.72 billion in 2012. For the first nine months of the year, AGI said its consolidated revenues grew 19% to P93.4 billion.

ABS-CBNnews.com
Posted at 11/20/2013 1:09 PM
http://www.abs-cbnnews.com/business/11/20/13/andrew-tans-agi-named-one-asias-top-listed-companies

Jollibee hopes to topple Japan firm as Asia’s largest

2013-11-19T09:00:00.003-08:00

Jollibee Foods Corp. (JFC) hopes to topple Japan’s Zensho Holdings Co. Ltd. in two years to become Asia’s largest restaurant and fast-food company, a top executive of the Philippine fast-food giant said last week.

The target of Jollibee, whose homegrown chain gained popularity selling American fast-food staples adjusted to local tastes, to dominate the region comes faster than initially thought, and may be achieved even without major acquisitions, Jollibee chief financial officer Ysmael Baysa told reporters.

“If we enter a new market or make another acquisition, our chances [of becoming the top fast-food company] are even bigger,” Baysa said at the sidelines of the Asia CEO Awards last week.

Established in the 1970s, Jollibee now has a global network of 2,671 stores, mainly in the Philippines and China. It is Asia’s second-biggest fast food/restaurant company, according to Baysa, who cited data from Euromonitor International.

The biggest is still Zensho, with 4,700 restaurants, mainly through the Sukiya chain, which sells gyudon or beef rice bowls.
“Jollibee can be the biggest” in all of Asia, Baysa said. It can [happen] “in the next two years.”

The company is now focusing on the expansion of its organic stores, Baysa said.

Jollibee is on track to open about 100 stores in the Philippines this year, he said. In 2014, it will likely exceed that expansion count.

Despite mounting competition, sales in the Philippines grew by 10.5 percent in the last quarter. But its units outside the country have been growing faster, he noted.

We are growing by a double-digit pace everywhere, Baysa said.

In the third quarter, total sales of foreign businesses were up by 22.1 percent.

Jollibee is keen on expanding via acquisitions. But Baysa noted this would be on a smaller scale moving forward, given its dominant position.

“Our acquisitions most likely will not be as frequent as before,” Baysa said. “We have already established our foundation in China—we have three brands [in China] plus one joint venture. And we are already in the largest categories in the Philippines.”

The company’s brands in the Philippines include the Greenwich pizza chain, grilled chicken chain Mang Inasal, Burger King and Chinese-themed Chowking. In China, it operates Yonghe King, Hong Zhuang Yuan and San Pin Wang.

It said revenues during the period rose by 12.3 percent to P57.83 billion, while profit was up 26.7 percent to P3.12 billion.

Philippine Daily Inquirer
3:56 am | Monday, November 18th, 2013
http://business.inquirer.net/152819/jollibee-hopes-to-topple-japan-firm-as-asias-largest

PGOLD (Puregold Price Club, Inc.) November 19, 2013 "Potentially found the bottom"

2013-11-19T08:59:00.002-08:00

PGOLD (Puregold Price Club, Inc.)
November 19, 2013
"Potentially found the bottom"

PGOLD may have bottomed out today as it forms a Bullish Hammer candlestick pattern, a reversal pattern.

It potentially found a convergence of supports at the following:

1) Five months uptrend support line - a rebound from this level may trigger a retracement towards the recent high near 47/48. However, a breakdown from this level may send the price towards 35.

2) Support provided by the 200 SMA line (around 40).

3) Support around the 61.8% Fibonacci Retracement which historically provided similar support of the previous low at 35.5.

4) S1 = 40.4, the Support 1 of the classic pivot level.

RSI is now at OVERSOLD level.

Analyst/Broker's Ratings
------------------------------
COL:
- Rating = BUY
- TP = 51

HSBC:
- Rating = Overweight
- TP = 55

FT:
- Rating = OUTPERFORM
(5 Buy|1 Outperf|1 Sell)
- TP(low/avg/high) = 34/49/55

MarketWatch:
- Rating = BUY
- Avg TP = 49

Firstmetrosec:
- Rating = HOLD
- TP = 44.6
- Recent earnings result slightly below estimate as margins disappoints. However, a stronger than usual 4Q 2013 may arise from demand for relief goods for typhoon Haiyan victims.

Source: PSE Stocks

BusinessWorld Online "Stock picks for the week" November 18, 2013

2013-11-19T08:57:00.002-08:00

JGS (JG Summit Holdings, Inc.)
Recommendation: BUY

MEG (Megaworld Corp.)
Recommendation: BUY ON DIPS

LTG (LT Group, Inc.)
Recommendation: WAIT TO BUY

BusinessWorld Online "Stock picks for the week" (November 11, 2013)

2013-11-12T00:42:00.002-08:00

JFC (Jollibee Foods Corp.)
Recommendation: HOLD

TA (Trans-Asia Oil and Energy Corp.)
Recommendation: BUY

ICT (International Container Terminal Services, Inc.)
Recommendation: HOLD

PRIMER for the First Metro Philippine Equity Exchange Traded Fund

2013-11-12T00:41:00.000-08:00

Hello everyone!

We're pleased to present to you a PRIMER for the First Metro Philippine Equity Exchange Traded Fund!

You may download the full primer here: http://fami.com.ph/2013/11/primer-first-metro-philippine-equity-exchange-traded-fund/

Disclaimer: This material is intended only to provide information regarding the First Metro Philippine Equity Exchange Traded Fund. IT IS NOT TO SOLICIT INVESTMENTS IN THE FUND. Each person contemplating investment in the fund must make his or her own investigation and analysis of the risks in investing in a listed mutual fund.

Source: FAMI

Robinsons IPO Discount to Puregold Lures Buyers: Southeast Asia

2013-11-12T00:36:00.002-08:00

RRHI Listing date: Today (November 11, 2013)

Robinsons Retail Holdings Inc. (RRHI), the largest Philippine initial public offering, is giving investors a chance to bet on Southeast Asia’s fastest-growing economy at a 12 percent valuation discount to its biggest rival.

The operator of supermarkets and department stores controlled by Philippine billionaire John Gokongwei will start trading in Manila today after raising at least $621 million. The IPO price of 58 pesos per share values the company at 22 times estimated 2014 profit, said Bach Johann Sebastian, a senior vice president at Robinsons. Puregold Price Club Inc. (PGOLD), the nation’s biggest listed retailer, trades at 25 times the average of analysts’ earnings estimates compiled by Bloomberg.

Private consumption accounts for about 70 percent of the Philippine economy, which joined China as the fastest-growing country in Asia in the second quarter. Money managers at Metropolitan Bank & Trust Co. (MBT) and Rizal Commercial Banking Corp. who bought Robinsons shares in the IPO say the stock will probably rise as household purchases in the nation of 106 million people increase, while the company’s valuation discount versus Puregold narrows.

“Robinsons will be supported by rising consumer demand, one of the main drivers of the Philippine economic story,” Allan Yu, the chief investment officer at Metropolitan Bank & Trust, the nation’s third-largest money manager with $8.7 billion under management. “The company’s expansion can close the discount with Puregold over time.”

Fund Inflows

Philippine financial markets are set to open today after Super Typhoon Haiyan struck the central Philippines, leaving a death toll that the Associated Press reported may reach 10,000. The storm destroyed an airport, cut power and phones lines, and flattened crops.

While the typhoon will weigh on the peso and the nation’s stock market, consumer companies may get a boost from purchases tied to relief efforts, said Jonathan Ravelas, the chief market strategist at Manila-based BDO Unibank Inc., the largest listed Philippine lender.

The Philippine Stock Exchange Index has climbed 9.3 percent this year, versus a 5.7 percent drop in the MSCI Emerging Markets Index. Foreign investors have bought a net $888 million of Philippine shares in 2013, the fifth-straight year of inflows, as economic growth lifted corporate profits to all-time highs and the nation won investment-grade status from ratings companies.

Rally Bets

The country’s gross domestic product, which increased 7.5 percent in the second quarter, will probably expand 7 percent during the whole of 2013 and 6 percent next year, among the five-fastest projected growth rates of 65 economies tracked by Bloomberg worldwide.

Disposable incomes in the Philippines may rise at a 5.4 percent compound annual rate from 2012 through 2017, versus 4.8 percent from 2008 to 2012, Robinsons said in its IPO prospectus, citing the Economist Intelligence Unit. Sales at store-based retailers are forecast to grow at a 7.7 percent rate, up from 3.9 percent.

Robinsons, the nation’s biggest IPO in dollar terms, plans to spend more than 80 percent of the share-sale proceeds to expand its store network. Half of the spending will go toward building new supermarkets, Chief Financial Officer Diosdado Zapata said at an investor briefing in Manila on Oct. 14.

Puregold Advance

The company, which started as department-store operator more than 30 years ago, plans to operate 1,400 shops by the end of next year as it expands beyond Manila, Zapata said. Robinsons had 940 stores, from DIY shops to drugstores, at the end of June, according to its IPO prospectus.

“I like the offer,” said Rico Gomez, head of the trust trading division at Manila-based Rizal Commercial Banking Corp. “There’s expectations among investors the stock will rally.”

Puregold, which operates supermarkets and hypermarkets, has advanced 36 percent in Manila this year. The stock gained 260 percent since it began trading in October 2011, four times more than the PSE index. Puregold had 192 stores at the end of June, up from less than 80 when it raised about $194 million from its IPO.

Robinsons is unlikely to repeat the two-year returns of its rival, said Metrobank’s Yu. The company may have less room for expansion than Puregold, while the prospect of reduced monetary stimulus in the U.S. is curbing investor demand for emerging-market equities, he said.

Fed Risk

The Philippine stock gauge has lost 14 percent since May 22, when Fed Chairman Ben S. Bernanke signaled the central bank’s bond-buying program could be trimmed if the U.S. economy showed a sustained recovery. Puregold has slipped 3.2 percent from its Oct. 18 peak.

Robinsons’ sales of durable consumer goods, including electronics and apparel, make it more attractive than Puregold for some investors, said Jomar Lacson, an analyst at Campos Lanuza & Co. in Manila.

“Those who want to bet on the growth and changing spending pattern caused by rising income will add Robinsons to their holdings,” Lacson said. “Puregold doesn’t give a full Philippine retail experience. It’s not exposed to spending on consumer durables.”

Discretionary purchases may double to 30 percent of household spending from 15 percent in as little as five years if the economy sustains growth near current levels, according to Alex Pomento, a strategist at Macquarie Group Ltd. in Manila.

“With the expected shift in consumer spending patterns, this segment becomes attractive,” Pomento said. “At the end of the day, Robinsons is a good proxy to consumption. With a discounted valuation to Puregold, the stock’s bias should be upwards.”

Source: Bloomberg

Dota 2 6.79 Gameplay Update

2013-10-21T19:54:00.003-07:00

GENERAL

* Buyback prevents gaining unreliable gold (creeps, neutrals, etc) until your normal respawn time finishes
* When buying back, 25% of the remaining respawn time will be added to your next death

* Creeps now meet a bit closer to the tower in your offlane
* Ranged Heroes now get the same denied experience as melee heroes (instead of less)
* XP AoE increased from 1200 to 1300

* Non-Ancient Neutrals now split XP with all heroes in the AoE instead of just the team that killed them
* Swapped the medium pullable Neutral Camp with the small camp
* A neutral creeps camp will no longer spawn the same set of neutral creeps twice in a row
* Small reduction to the pull timing duration of the mid Radiant and mid-top Dire camp
* Satyr Mindstealer XP bounty reduced from 88 to 62
* Satyr Tormentor XP bounty reduced from 155 to 119
* Mud Golems XP bounty reduced from 119 to 88
* Mud Golems armor reduced from 4 to 2
* Dark Troll Summoner bounty XP reduced from 155 to 119
* Hellbear Smasher HP reduced from 1100 to 950
* Hellbear armor reduced from 5 to 3
* Satyr Trickster's Purge cast point improved from 0.5 to 0.2
* Fixed Neutral Envenomed Weapons debuff dispelling regen items

* Day/Night length decreased from 6 to 4 minutes
* The following heroes now have the standard 800 night vision: Drow Ranger, Mirana, Puck, Leshrac, Enchantress, Ancient Apparition, Meepo and Treant Protector

* Roshan will respawn at a random time between 8 and 11 minutes after death
* When Aegis expires unused, it heals the hero fully over 5 seconds (regen dispels on damage from players or buildings)

* Starting gold increased from 603 to 625
* Random Gold bonus reduced by 50
* Gold for ending a spree changed from 75->600 (3x->10x) to 125->1000
* Your gold income is now 1 per 0.6 seconds, up from 1 per 0.8 seconds

* Tower last hit bonus gold increased from 100-200 to 150-250
* Melee Barracks HP regen increased from 2.5 to 5
* Ranged Barracks HP regen decreased from 2.5 to 0
* Ranged Barracks HP reduced from 1500 to 1200 and armor increased from 5 to 10 (same EHP vs physical damage)

* Evasion now stacks diminishingly
* Can no longer orb-attack while attack restricted (such as Ethereal or Frostbite)
* The following abilities no longer automatically ignore backswing time by default: Rupture, Malefice, Venomous Gale, Stifling Dagger, Flamebreak, Wave of Terror, Shadow Word and Power Cogs

HEROES

Abaddon
- Base armor reduced by 1
- Myst Coil self damage increased from 50/75/100/125 to 75/100/125/150
- Aphotic Shield is now dispellable
- Borrowed Time no longer activates while Doomed

Alchemist
- Chemical Rage no longer provides 250/500/750 bonus HP
- Chemical Rage HP regen increased from 15/30/60 to 50/75/100

Ancient Apparition
- Ice Vortex cooldown reduced from 5 to 4
- Ice Blast cooldown reduced from 45 to 40
- The Chilling Touch buff is now always applied to Ancient Apparition even if he is not within the target area
- Chilling Touch cooldown reduced from 50/46/42/38 to 50/42/34/26

Axe
- Berserker's Call AoE increased from 275 to 300
- Battle Hunger duration reduced from 10/13/16/19 to 10/12/14/16
- Battle Hunger damage reduced from 15/21/27/33 to 15/20/25/30
- Battle Hunger movement speed slow/bonus increased from 8% to 10%
- Battle Hunger is now dispellable
- Counter Helix cooldown reduced from 0.55/0.5/0.45/0.4 to 0.45/0.4/0.35/0.3
- Counter Helix now hits siege units
- Culling Blade no longer goes on cooldown if it successfully kills a hero
- Culling Blade threshold reduced from 300/450/625 to 250/350/450 (Aghanim upgraded version is still 300/450/625)
- Culling Blade speed bonus increased from 25% to 40% and AoE from 600 to 900
- Culling Blade 40% speed bonus now applies to attack speed as well
- Culling Blade Aghanim allied buff duration increased from 6 to 10
- Culling Blade manacost reduced from 150/200/250 to 60/120/180

Batrider
- Base damage reduced from 48-52 to 38-42
- Vision reduced from 1400 to 1200
- Flaming Lasso cast range reduced from 175 to 100

Beastmaster
- Inner Beast AoE reduced from 1000 to 900 (standard aura AoE)
- Inner Beast attack speed rescaled from 18/26/32/40 to 15/25/35/45
- Call of the Wild now has two abilities for summoning each unit independently
- Call of the Wild manacost reduced from 25 to 15 and cast point improved from 0.5 to 0.3

Bloodseeker
- Base movement speed reduced from 305 to 300
- Thirst is now global instead of 6000 range
- Thirst bonus now stacks for each unit that is low HP
- Thirst HP threshold increased from 20/30/40/50% to 50%
- Thirst movement speed bonus reduced from 15/25/35/45% to 7/14/21/28%
- When Thirst is active, movement speed cap is removed on your hero
- Thirst no longer provides armor bonus
- Thirst provides bonus 7/14/21/28 damage
- Thirst no longer grants full hero vision around low HP targets, it only shows their model
- Thirst no longer lasts for an extra 3 seconds when the target is dead

Brewmaster
- Base agility increased from 16 to 22
- Drunken Haze affects a 200 AoE around the target
- Thunder Clap is now dispellable
- Primal Split selection order is now Earth/Storm/Fire
- Reworked Primal Split Aghanim upgrade.

Bristleback
- Attack point improved from 0.4 to 0.3
- Viscous Nasal Goo is now dispellable
- Viscous Nasal Goo cast point improved from 0.4 to 0.3
- Warpath max stacks increased from 5 to 5/6/7
- Warpath stack duration increased from 10 to 14

Broodmother
- Spin Web AoE increased from 650 to 900
- Spin Web cast range increased from 600 to 1000
- Spin Web cast point nerfed from 0.2 to 0.4
- Spin Web no longer destroys trees
- Broodmother now has completely unobstructed movement when under the web (can walk over cliffs, trees, etc)
- Removed buffer time when leaving Spin Web (you now immediately lose your regen/movement/pathing/invis bonuses)

Centaur Warrunner
- Stampede slow duration increased from 1.25 seconds to 1.5

Chaos Knight
- Chaos Bolt damage and stun values are now inversely related

Chen
- Test of Faith teleport is now dispellable
- Hand of God cooldown increased from 140/130/120 to 160/140/120

Clinkz
- Searing Arrows damage increased from 20/30/40/50 to 30/40/50/60
- Searing Arrows manacost increased from 8 to 10
- Searing Arrows is no longer blocked by magic immunity

Clockwerk
- Units knocked back by Power Cogs destroy trees in 100 AoE around where they land

Crystal Maiden
- Freezing Field AS/MS AoE slow increased from -20/-30 to -30/-30
- Freezing Field Scepter AS/MS AoE slow increased from -50/-30 to -50/-50

Dark Seer
- Vacuum cooldown increased from 24 to 28

Dazzle
- Weave duration rescaled from 12/18/24 to 20
- Weave armor per second rescaled from 1 to 0.75/1/1.25 (scepter is 1/1.25/1.5)
- Poison Touch damage increased from 8/16/24/32 to 14/20/26/32 (7 seconds worth)
- Poison Touch is now dodgeable
- Poison Touch slow timings reworked

Death Prophet
- Exorcism Spirit damage increased from 43-48 to 53-58

Disruptor
- Kinetic Field AoE increased from 300 to 325
- Glimpse cooldown reduced from 60/50/40/30 to 65/50/35/20
- Static Storm AoE increased from 375 to 450
- Static Storm max damage increased from 170/220/270 to 200/250/300
- Added Aghanim's upgrade: Static Storm silences items, and lasts an extra 2 seconds

Doom
- Doom cooldown reduced from 110 to 100
- Doom now removes positive buffs on the target before applying the debuff
- Doom Aghanim AoE requirement increased from 550 to 900

Drow Ranger
- Precision Aura damage ratio increased from 16/20/24/28% to 18/24/30/36%
- Precision Aura no longer affects creeps
- Precision Aura can now be manually casted to affect creeps globally for 30 seconds (120 cd)
- Marksmanship attribute negation AoE increased from 375 to 400

Earthshaker
- Enchant Totem damage increased from 75/150/225/300% to 100/200/300/400%
- Fissure range increased by 100

Elder Titan
- Ancestral Spirit damage reduced from 120/160/200/240 to 80/120/160/200

Enigma
- Midnight Pulse dps increased from 3/4/5/6% to 4/5/6/7%
- Added Aghanim's upgrade: Adds Midnight Pulse damage to your Black Hole. This damage stacks with Midnight Pulse.

Enchantress
- Untouchable attack speed slow increased from 20/50/80/110 to 30/60/90/120

Faceless Void
- Timewalk slow rescaled from 25/30/35/40% to 20/30/40/50%
- Chronosphere AoE increased from 400 to 450

Huskar
- Agility reduced from 20 + 2.4 to 15 + 1.4
- Berserker's Blood is now disabled by Doom

Invoker
- EMP restores Invoker for 50% of the mana it drains from heroes (excluding illusions)
- Invoke Max Spells rescaled from 1/2/2/2 to 2

Io
- Tether now does a -100% MS/AS slow instead of a stun

Jakiro
- Liquid Fire is now a castable Attack Orb (same cooldown, no mana cost)

Juggernaut
- Healing Ward movement speed increased from 300 to 450
- Omnislash Scepter cooldown reduced from 110/100/90 to 70
- Omnislash no longer stops if the target is Ethereal (it still doesn't do damage)
- Fixed not being able to use items during Omnislash

Keeper of the Light
- Blinding Light now destroys trees in a 150 AoE around where the target is pushed

Kunkka
- X Marks The Spot cooldown reduced from 16 to 13
- Ghost Ship damage increased from 350/450/550 to 400/500/600

Leshrac
- Diabolic Edict cast point improved from 0.7 to 0.5
- Pulse Nova scepter damage increased from 88/133/177 to 100/150/200

Lich
- Frost Armor has half effect against ranged heroes
- Frost Armor slow now stacks with the slow from Frost Nova
- Sacrifice cooldown increased from 35/30/25/20 to 44/36/28/20
- Sacrifice mana gain increased from 15/30/45/60% to 25/40/55/70%
- Sacrifice no longer denies enemy XP
- Sacrifice now converts your own creep for XP (shared in AoE as normal creep xp bounty)

Lifestealer
- Rage cooldown increased from 17 to 19
- Open Wounds and Infest cast points increased from 0.01 to 0.2

Lina
- Attack range increased from 635 to 650

Lion
- Mana Drain duration increased from 4 to 5
- Hex cooldown increased from 15 to 30/25/20/15
- Hex duration increased from 1.75/2.5/3.25/4 to 2.5/3/3.5/4

Lone Druid
- Base movement speed increased from 315 to 325 (still 280 in True Form)
- Spirit Bear XP bounty increased from 196 to 300

Luna
- Moon Glaive can now bounce back on the same units if it already hit all other units nearby
- Moon Glaive bounce damage reduced from -30% to -35%
- Eclipse Scepter beam count limit per target removed

Lycanthrope
- Armor increased by 1 (Shapeshift total armor is still the same as before)
- Base damage increased by 5
- Howl bonus damage for non-hero units increased from 4/8/12/16 to 5/10/15/20
- Wolves magic resistance increased from 50% to 80%

Magnus
- Turn rate improved from 0.5 to 0.8

Medusa
- Mystic Snake now does Pure damage to units in Stone Form

Meepo
- Base armor reduced by 1
- Turn rate improved from 0.5 to 0.65
- Earthbind cast point improved from 0.5 to 0.3
- Divided We Stand leveling rebalanced from 6/11/16 to 4/11/18
- Removed 30% stat sharing on non-aghanim Divided We Stand

Mirana
- Leap AoE AS/MS speed bonus is granted at the cast location rather than the destination
- Leap AoE AS bonus increased from 4/8/12/16 to 8/16/24/32

Morphling
- Morph level 4 shift rate improved from 0.25 to 0.2

Naga Siren
- Rip Tide AoE reduced from 450 to 350
- Ensnare manacost increased from 75/85/95/105 to 90/100/110/120

Nature's Prophet
- Treants' XP Bounty increased from 20 to 30
- Treants' Gold Bounty increased from 12-16 to 14-20

Necrolyte
- Base armor increased by 1

Night Stalker
- Darkness causes enemy vision to be reduced by 25% (affects heroes, creeps and wards)

Nyx Assassin
- Spiked Carapace no longer stuns your hero when your summoned units proc it (the summoned units get stunned instead)
- Impale no longer has unit targeting, it is now only a point targeted spell

Ogre Magi
- Ignite duration increased from 4/5/6/7 to 5/6/7/8
- Ignite is now dodgeable
- Ignite can now multicast to cast at a random enemy unit in 1400 AoE (prioritizes ones that do not already have the debuff)
- Unrefined Fireblast cooldown reduced from 10 to 6

Omniknight
- Degen Aura AoE increased from 315 to 350
- Degen Aura stickiness increased from 0.5 seconds to 1.0

Outworld Devourer
- Base damage reduced by 3
- Items no longer trigger Essence Aura

Phantom Assassin
- Stifling Dagger shares the same crit chance/factor as Coup de Grace
- Stifling Dagger is now dodgeable
- Stifling Dagger damage rescaled from 50/100/150/200 to 60/100/140/180

Phantom Lancer
- Spirit Lance is now dodgeable

Pudge
- Can now use Blink Dagger
- If you hook a unit onto an unpathable ledge, the unit gains free pathing for 5 seconds
- Flesh Heap magic resistance reduced from 4/8/12/16% to 6/8/10/12%
- Dismember Scepter strength multiplier increased from 0.75 to 1.0

Pugna
- Decrepify damage amp on allies reduced from 40% to 25%
- Decrepify damage amp on enemies increased from 40% to 50%
- Nether Ward now requires 3 hits to kill instead of 75/150/225/300 HP (heroes hurt it for 1, others for 0.25)
- Life Drain restores mana if it tries to heal you while you are full hp when targeting heroes

Queen of Pain
- Shadow Strike manacost rescaled from 80/100/120/140 to 110

Riki
- Smoke Screen cast range increased from 425 to 550
- Riki is no longer revealed out of Permanent Invisibility when he casts spells or uses items

Rubick
- Telekinesis cooldown increased from 18 to 22
- Rubick can no longer steal the Aghanim upgrade of the enemy if they have Aghanim and he doesn't
- Added Aghanim's upgrade: reduces cooldown from 20/18/16 to 5, increases cast range from 1000 to 1400 and makes all stolen spells be considered to have their Aghanim's upgrade

Sand King
- Sand Storm dps increased from 20/40/60/80 to 25/50/75/100
- Epicenter attack speed slow is now same as movement speed slow (10%->30%)

Shadow Demon
- Shadow Poison AoE increased from 180 to 190

Shadow Shaman
- Mass Serpent Ward count increased from 8 to 10
- Changed Mass Serpent Ward placement structure

Silencer
- Intelligence Steal is an innate part of the hero rather than an element of Glaives of Wisdom

Skeleton King
- Base Intelligence increased by 5
- Removed Mortal Strike active
- Vampiric Aura now provides full effectiveness on ranged units
- Reincarnation slow increased from 30% to 50%
- Reincarnation slow AoE increased from 700 to 900

Skywrath Mage
- Int growth increased from 3.2 to 3.6
- Added Aghanim's upgrade: reduces Mystic Flare's cooldown from 60/40/20 to 20/10/0

Slardar
- Amplify Damage armor reduction increased from 8/14/20 to 10/15/20
- Sprint speed increased from 20/27/33/40% to 20/28/36/44%
- Sprint manacost removed (was 50)

Slark
- Shadow Dance duration reduced from 5.5 to 4
- Shadow Dance cooldown increased from 25 to 65
- Shadow Dance can no longer be revealed by Truesight

Sniper
- Take Aim attack range bonus increased from 75/150/225/300 to 80/160/240/320

Spectre
- You can now continuously use Reality on your illusions
- Reality cast point improved from 0.3 to 0

Spirit Breaker
- Base attack time nerfed from 1.7 to 1.9
- Greater Bash no longer works while doomed
- Nether Strike now uses 1.2 Cast Time instead of a 1 sec magic immune delay (can be interrupted as a result)

Sven
- Stormbolt cooldown reduced from 15 to 13
- Stormbolt is now dodgeable

Tidehunter
- Kraken Shell damage block increased from 7/14/21/28 to 9/18/27/36

Timbersaw
- Chakram manacost increased from 75/125/175 to 100/150/200

Tiny
- Craggy Exterior chance increased from 6/12/18/24% to 10/15/20/25%
- Craggy Exterior stun duration increased from 1.2 to 1.2/1.3/1.4/1.5

Treant Protector
- Leech Seed damage per pulse reduced from 30/45/60/75 to 24/36/48/60
- Leech Seed number of pulses increased from 4 to 6 (duration from 3 to 4.5)
- Living Armor cooldown rebalanced from 15 to 32/26/20/14
- Living Armor manacost increased from 25 to 50
- Nature's Guise cast point improved from 0.5 to 0.3

Troll Warlord
- Berserker's Rage movespeed bonus rebalanced from 20/20/20/30 to 10/20/30/40
- Whirling Axes (Melee) damage reduced from 125/175/225/275 to 75/125/175/225

Tusk
- Frozen Sigil now requires a constant number of hits (3/3/4/4) instead of 200/220/240/260 HP (heroes hurt it for 1, others for 0.25)

Undying
- Decay steal duration increased from 25/30/35/40 to 40

Vengeful Spirit
- Can now use Blink Dagger
- If you Netherswap a unit onto an unpathable ledge, the unit gains free pathing for 5 seconds

Venomancer
- Poison Nova no longer ignores invis/fogged units
- Venomous Gale no longer ignores invis units
- Venomous Gale damage over time rebalanced from 15/30/45/60 to 0/30/60/90
- Poison Sting duration increased from 6/8/10/12 to 6/9/12/15
- Poison Sting dps no longer dispels healing or disables dagger
- Plague Wards now have Poison Sting for 50% of the damage at the current skilled level (When both Venomancer and a Plague Ward affect a target, only the highest dps is applied)
- Plague Wards XP bounty increased from 12/12/25/25 to 20/25/30/35

Viper
- Poison Attack cooldown reduced from 4/3/0/0 to 0
- Corrosive Skin no longer works while doomed

Visage
- Base armor reduced by 1
- Base magic resistance reduced from 25% to 10%

Warlock
- Fatal Bonds now links the closest units to the initial target, instead of randomly choosing targets in its AoE
- Upheaval cast range increased from 700 to 1200
- Upheaval duration increased from 10 to 12
- Removed Chaotic Offering 100 impact damage
- Chaotic Offering Golem armor increased from 5/7/10 to 6/9/12
- Chaotic Offering manacost increased from 200/250/300 to 200/300/400

Weaver
- Base attack time nerfed from 1.7 to 1.8

Windrunner
- Focus Fire remains sticky on the target you cast it on

Witch Doctor
- Death Ward cast range increased from 400 to 600
- Voodoo Restoration AoE increased from 350 to 500
- Voodoo Restoration manacost over time reduced from 8/14/20/26 to 8/12/16/20 (50% of the heal amount)
- Paralyzing Casks now lasts 5 seconds on illusions (same as creep duration)

ITEMS

Animal Courier
- Movement speed increased from 300 to 350
- HP increased from 45 to 75

Arcane Boots
- Movement speed bonus reduced from 60 to 55

Armlet of Mordiggian
- Unholy Strength STR gain is provided over 0.7 seconds
- Unholy Strength has no toggle on or off cooldown

Black King Bar
- Recipe cost increased from 1300 to 1375

Blink Dagger
- Damage disable no longer ignores self damage

Bloodstone
- Now gives the +10 damage from its components

Boots of Travel
- Now prioritizes nearby structures first within 325 AoE from targeting position (when ground targeted)

Bottle
- Gold cost increased from 600 to 650

Clarity Potion
- Is no longer shareable (but can still be used on a target ally)

Dust of Appearance
- Slow increased from 10 to 15%

Eul's Scepter of Divinity
- Cyclone cooldown reduced from 30 to 25
- Movement speed bonus increased from 35 to 40

Eye of Skadi
- Eye of Skadi MS/AS slow increased from 30/20 to 35/35

Flying Courier
- Cannot be purchased until 3 minutes after creeps spawn

Gem of True Sight
- Gold cost increased from 850 to 900

Hand of Midas
- Transmute no longer works against Necronomicon units

Healing Salve
- Gold cost increased from 100 to 115
- Is no longer shareable (but can still be used on a target ally)

Helm of the Dominator
- Dominate can no longer control Necronomicon units

Hyperstone
- Gold cost reduced from 2100 to 2000

Linken's Sphere
- Linken's Sphere can now be cast on an allied hero to transfer the buff

Maelstrom
- Chain Lightning AoE increased from 500 to 900

Mjollnir
- Static Charge radius around attacker increased from 300 to 450
- Static Charge hit count increased from 3 to 5
- Chain Lightning AoE increased from 500 to 900

Necronomicon
- Summoned units duration increased from 35 to 40

Observer Ward
- Duration increased from 6 to 7 minutes
- Killing Observer Wards now grants a 50 gold bounty

Phase Boots
- Movement speed bonus reduced from 55 to 50

Pipe of Insight
- Barrier AoE increased from 500 to 900

Power Treads
- Movement speed bonus reduced from 55 to 50

Radiance
- Burn Damage AoE increased from 650 to 700

Refresher Orb
- Now gives the +10 attack speed from its components

Rod of Atos
- Cripple cooldown reduced from 16 to 12

Sange and Yasha
- Movement speed bonus increased from 12 to 16%

Sentry Ward
- Duration increased from 3 to 4 minutes
- No longer gives permanent vision around it
- Gives ground vision in a 150 area around it for 12 seconds when placed

Shadow Amulet
- Fade delay reduced from 2.4 to 1.8

Shadow Blade
- Shadow Walk cooldown increased from 18 to 28

Smoke Of Deceit
- Smoked units are now always hidden until the buff is removed (rather than being hidden only from minimap and partially from world)

Tango
- Charges increased from 3 to 4
- Gold cost increased from 90 to 125
- Is no longer shareable
- Tango can be targeted on an allied hero to create a 1 charge non-stacking tango item in their inventory. If the inventory is full, the item will be placed on the ground. This item has a 60s cooldown.

Tranquil Boots
- Reworked Tranquil Boots

Urn of Shadows
- Soul Release cooldown reduced from 10 to 7

Vanguard
- Damage Block chance increased from 70 to 80%

Veil of Discord
- Now uses Null Talisman instead of Robe of the Magi (from +12 int to +6 int, +3 str, +3 agi, +3 dmg)
- Magic weakness duration increased from 20 to 25 seconds

* Broodmother and Slark are temporarily disabled from CM, they will be added back shortly.

What would happen if US gov't shuts down?

2013-09-30T20:38:00.001-07:00

If Congress cannot agree on a funding bill for the U.S. government by a midnight deadline, there will be far-reaching consequences for everything from National Park admissions to economic data.

Much of the impact or relative lack of disruption is determined by whether agencies are partly funded by industry user fees or deemed to be essential services.

Here is a roundup of some of the impact that would be felt:

FEDERAL WORKERS: As many as 1 million federal employees could face unpaid furloughs or missed paydays, according to the president of the American Federation of Government Employees, which represents 670,000 union members.

THE WHITE HOUSE: The Executive Office of the President will furlough about 1,265 staff and retain 436 as excepted workers. Among the staff retained will be 15 to provide "minimum maintenance and support" for the White House. Executive agencies will be reduced to skeleton staff, including four at the Council of Economic Advisors.

ECONOMIC DATA: The United States will stop publishing much of its economic data if the government shuts down, including the closely watched monthly employment report.

U.S. SECURITIES AND EXCHANGE COMMISSION: The SEC would continue reviewing applications for initial public offerings (IPOs) and monitoring markets as normal in the early weeks of a government shutdown, and can continue operating fully for a few weeks, a spokesman said.

DEPARTMENT OF HEALTH AND HUMAN SERVICES: Signup for the new U.S. health exchanges under the Affordable Care Act due to start on Oct. 1 will proceed. Across the vast department and its sub-agencies, about 52 percent of staff will be furloughed - some 40,512 workers. Among the programs shuttered would be the Centers for Disease Control's annual seasonal flu influenza program. The National Institutes of Health would not admit new patients in most circumstances.

U.S. FOOD AND DRUG ADMINISTRATION: Some 55 percent of the FDA's employees will be working. Of those reporting to work, 74 percent will be funded with fees paid to the FDA by the industries it regulates. The FDA's expert advisory committee meetings, which recommend whether the agency should approve new products, will for the most part continue. The next scheduled panel is on Oct. 8 to recommend whether to approve expanded use of certain pacemakers and defibrillators from Medtronic Inc. . The FDA will cease most of its food safety, nutrition and cosmetics activities, such as routine inspections of plants and facilities. It will also be unable to monitor imports, and will cease certain compliance and enforcement activities.

U.S. INTELLIGENCE AGENCIES: Substantial numbers of intelligence personnel could be placed on leave, but those assigned to vital national security missions, including supporting the president, and collecting data from informants or spy devices such as eavesdropping systems or satellites, will generally remain on the job.

Shawn Turner, chief spokesman for National Intelligence Director James Clapper, said: "The immediate and significant reduction in employees on the job means that we will assume greater risk and our ability to support emerging intelligence requirements will be curtailed."

NATIONAL PARKS: National parks would close, meaning a loss of 750,000 daily visitors and an economic loss to gateway communities of as much as $30 million for each day parks are shut, according to the non-profit National Parks Conservation Association.

DEFENSE DEPARTMENT: All military personnel would continue on normal duty status, but half of the Defense Department's 800,000 civilian employees would be placed on unpaid leave. Pentagon has said it will halt military activity not critical to national security.

Officials have said military personnel, who are paid twice a month, would receive their Oct. 1 paychecks but might see their Oct. 15 paychecks delayed if a government shutdown takes place and no funding deal is reached by Oct. 7.

INTERNAL REVENUE SERVICE: Most of the federal tax agency's 90,000 employees would be furloughed. Taxpayers who requested an extension beyond the April 15 deadline to file their 2012 taxes must do so by Oct. 15 and will be able to file these returns even if the IRS is still shut down then.

FEDERAL RESERVE AND OTHER FINANCIAL AGENCIES: Bank regulators, including the Federal Reserve and the Consumer Financial Protection Bureau, would stay open because they do not rely on Congress for funding. The Federal Deposit Insurance Corp and the Office of the Comptroller of the Currency pay for themselves and would remain open. Loans guaranteed by Fannie Mae and Freddie Mac will still be available during the government shutdown. Both firms, which were seized by the U.S. government in 2008 as rising mortgage losses threatened them with insolvency, will continue normal operations. The Federal Housing Administration, which offers mortgage lenders guarantees against homeowner defaults, will have limited operations.

JUSTICE DEPARTMENT: Fewer than 18,000 of the department's 114,486 employees would be furloughed, and if the furlough is prolonged, some of those could be brought back to work. Criminal litigation would continue under a government shutdown, while civil litigation would be curtailed or postponed as much as possible "without compromising to a significant degree the safety of human life or the protection of property," the department said in its contingency plan.

COURTS: The U.S. Supreme Court would probably operate normally, as it has during previous shutdowns, but a spokesman declined to share the high court's plans. Federal courts would remain open for about 10 business days if the government closes on Oct. 1, and their status would be reassessed on or about Oct. 15.

U.S. TRADE REPRESENTATIVE'S OFFICE: Already squeezed by automatic spending cuts imposed by the so-called sequester, the USTR office has reduced travel to the 41 countries where there are concerns about intellectual property, Trade Representative Michael Froman said.

ENVIRONMENTAL PROTECTION AGENCY: The agency would be one of the hardest hit, with less than 7 percent of its employees exempt from furlough. The broad-based shutdown of all but emergency services would delay rule-making, potentially including finalization of renewable fuel volume requirements for 2014.

AGRICULTURE DEPARTMENT: USDA meat inspectors would stay on the job. Statistical reports would not be published, and the important Oct. 11 U.S. crop report could be delayed depending on how long a shutdown lasts. USDA has said its website, USDA.gov, "will go dark and be linked to a 'splash' page," denying access to historical data and other information.

TRAVEL: Air and rail travelers in the United States should not feel a big impact, since passport inspectors, security officers and air traffic controllers will all continue to work as usual.

WASHINGTON SIGHTS: Most popular tourist spots in the nation's capital would close, including the Lincoln Memorial, the Library of Congress, the National Archives, the National Zoo and all Smithsonian Museums. The zoo's live animal webcams would be disabled. All animals will continue to be fed and cared for.

Reuters | Posted at 10/01/2013 10:36 AM
http://www.abs-cbnnews.com/global-filipino/world/10/01/13/what-would-happen-if-us-govt-shuts-down

How This Government Shutdown Would Be Different From the Last One

2013-09-29T00:47:00.001-07:00

By Marek Fuchs

Traders and the media, like military generals, tend to fight the last war. In other words, when faced with a pending battle, they assume it’s going to run the same course as the last time they took up arms.

That's why so much of the subtext for the pending government shutdown, due to possibly start next week, seems to be the previous government shutdown, which spanned over 28 days between November 1995 and January 1996. But from former President Bill Clinton's misinterpreted popularity to canyon-wide differences in states of the respective economies and expectations of the public, this go-round stands to be far different.
One item won’t change. Until the issue is settled, many blips of the stock market will be seen through the lens of the budget battle (and debt ceiling debate).

What we know

This much we know: The economy was much better cushioned for tumult in 1995. The last recession had ended in March 1991, so economic growth – a robust 3.5% in the third quarter of 1995 – was well established. Moreover, the economy was about to hit an even sharper register, thanks to the beginnings of Internet mania.

That’s quite a ways from our current state of affairs, which is fractured, at best. Rather than a well-established record of growth, we currently seem to slip between greased wheel and just plain greasy. One recent report showed rising home prices in July, while another evidenced slip-sliding consumer confidence in September. This comes on the heels of the Federal Reserve’s apparent reversal on reducing its $85 billion a month bond-buying binge.

But let’s not over-tout the comparative conditions of the economy. After all, the stock market is driven by expectations. Despite the baseline strength of the economy at the time of the 1995 shutdown, the government closing up shop unnerved the system. Though it soon recovered, economic growth slipped to 2.6% in the first quarter of 1996.

Many are assuming the same for Shutdown 2.0. Prevailing thought was set forth by a USA Today headline: “If government shuts down, economy would feel it.”
Perhaps. But the economy runs on expectations and ours have been defined down since 1995. The economic crisis of 2008 set a new standard for inducing economic turmoil. We’ve also had a full generation of political stalemate, which means we're used to brinksmanship, showboating and impasses. Moreover, this time, we already feel the dodgy effects of the government’s disappearance through the sequestration.

Further differences

The differences go further than a fizzled set of expectations, however. The fact that this generation’s partial shutdown might occur more than a month earlier in the calendar than the last one also might mitigate any impact on the Christmas selling season. In addition, there might be a hidden benefit to the comparatively unsettled world stage. With a roiled Mideast and Russia rising, attention might be taken from the shutdown, which could also lessen its effects.

By comparison, 1995 was a relatively quiet time internationally. There was no collection of revolutions in oil-producing countries. Russia was dormant. The public’s consciousness could focus with near exclusively on the shutdown.

A president’s standing is always important to the stock market and there is a preconception here, worth noting, that the shutdown might prove a boon to President Obama – as it was to President Clinton. Could be. The Republicans' ability to break their ankles by tripping over their own feet knows no bounds. But there are differences here, too.

Obama’s poll numbers recently hit a two-year low and there is an argument to be made that the stock market was already poised to suffer the consequences of his lame-duck status.
President Clinton emerged from the last shutdown a far more popular figure, but the public forgets that his political fortunes plummeted while it was happening. This was until an outburst by Republican leader Newt Gingrich over being made to sit in the back of Air Force One was reinterpreted as the cause of the shutdown. Gingrich soon appeared on the cover of a New York tabloid sobbing while wearing diapers.

A politician in diapers. Whatever portion of history repeats itself, let’s hope it’s not that.
Marek Fuchs was a stockbroker for Shearson Lehman Brothers before becoming a journalist who wrote The New York Times' County Lines column for six years. Fuchs speaks regularly on business and journalism issues at venues ranging from annual meetings of the Society of American Business Editors and Writers to PBS to National Public Radio. His recent book, "Local Heroes: Portraits of American Volunteer Firefighters," earned widespread praise. He is on the writing faculty at Sarah Lawrence College. When Fuchs is not writing or teaching, he serves as a volunteer firefighter. You can contact him on Twitter: @MarekFuchs.

Source: Yahoo Finance

PHL shares slip at early trades on US policy concerns

2013-09-25T01:59:00.002-07:00

Share prices on the Philippine Stock Exchange slipped in early trading Wednesday as investors – concerned with the US debt ceiling and Federal Reserve tapering – decided not to take positions at this point.

The main PSEi was down 23.72 points or 0.37 percent to 6,437.66 as of 10:15 a.m.
"The index is slightly down today due to new concerns over the US debt ceiling and renewed concerns on Fed's taper," Gregg Adrian Ilag, analyst at AB Capital Securities Inc., told GMA News Online.
"Regional markets are showing a weakness, and we are mirroring that," he added.
Reuters reported stocks on Wall Street struggled Tuesday, with benchmark indexes swinging between losses and muted gains to finally turn lower, amid a lack of clarity on US fiscal and monetary policies, while major currencies held in tight ranges.
A looming political showdown in Washington over budget talks that threaten to shut down the US government on October 1 was the bigger backdrop to trading while Fed policymakers have been on the offensive this week explaining the reasons behind the central bank's surprise decision last week not to reduce its asset purchases, Reuters added.
Ilag noted investors are now in search of a market-lifting catalyst.

"The last bull run was driven by liquidity after the Fed announced it will stick to its bond purchases. Concern now is what will drive another bull run," he said. – VS, GMA News

Source: Yahoo! PH

SE Asia Stocks-Mixed as volumes wane; Indonesia falls with rupiah

2013-09-25T01:54:00.002-07:00

BANGKOK, Sept 25 (Reuters) - Indonesian stocks slid on

Wednesday, fretting over a fall in the rupiah to a near 4-1/2-year low and selling in banks continued due to loan growth concerns. Regional peers traded in a tight range amid uncertainty about policies in the United States. Jakarta's Composite Index was down 1.5 percent, extending Tuesday's 2.3 percent loss, as weakness in the rupiah further hit sentiment. The index trimmed its year-to-date gain to 1.8 percent and was among Asia's underperformers. Among actively-traded shares, Bank Rakyat Indonesia dropped 3.2 percent and Bank Mandiri slipped 2.9 percent. Stocks in the Philippines and Malaysia slipped into negative territory, reversing their small gains ofthe previous session. Singapore, Thailand and Vietnam rose modestly. Trading was relatively light across the region, with volumes in Singapore, Malaysia and Thailand falling to around a third of the full-day averages over the past 30 sessions. Last week's rally in the emerging region after the U.S. Federal Reserve delayed reducing its monetary stimulus appeared to be short-lived as some markets would remain vulnerable to Fed policy when it does decide to slow its dollar printing presses. In Bangkok, selective buying in dividend-yielding stocks such as Advanced Info Service Pcl and Shin Corporation Pcl helped reverse early market losses. Strategists at broker Phillip Securities pegged support for the broader SET index at 1,400 versus its midday close at 1,423.89. "The 1400-point support level could be used as a buy-in

point to bet on end-of-quarter institutional window dressing ... Cut loss if the SET index is unable to hold above 1,400 points," they wrote in a report.

For Asian Companies click;

For South East Asia Hot Stock reports, click;

SOUTHEAST ASIAN STOCK MARKETS

Change at 0531 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 409.72 411.70 -0.48

Singapore 3217.86 3211.75 +0.19

Kuala Lumpur 1785.39 1792.48 -0.40

Bangkok 1423.89 1417.77 +0.43

Jakarta 4393.71 4460.41 -1.50

Manila 6438.81 6461.38 -0.35

Ho Chi Minh 485.24 482.82 +0.50

Source: Yahoo! PH

Bloody Wonderful: DOTA 2 Getting LAN Support

2013-09-23T06:08:00.000-07:00

You might remember that DOTA 2 officially launched not too long ago. This may in part be due to the fact that it’s one of the biggest PC games ever, making it difficult to forget about in the same way that a herd of rhinoceroses just kind of hanging out in your living room would at least spend a fair amount of time in your peripheral vision. It is, of course, already quite good, but Valve plans to continue updating it until the Earth molts away its wriggly organic shell, leaving behind naught but dust and roaches. The first step in that process? A (very) soon-to-be-launched update fittingly titled First Blood. It includes LAN play! Also lots of other things, including Portal’s own wise-cracking cracker of psyches GLaDOS as an announcer. Details below.

The update’s gleaming core is held up by three pillars: LAN play, a Captain’s Draft mode in which teams take turns choosing from a pool of randomly selected heroes, and an improved armory with custom filters for things like item type, quality, and rarity.
Meanwhile, the DOTA 2 store will be bolstered by the addition of a Portal pack – which includes GLaDOS as an announcer, Aperture Science Wardcores, and a Portal-themed HUD skin – and various new items (for instance, weapons, masks, and hairstyles) from the community.
So it’s not the biggest update ever, but it’s a solid start. And honestly, who doesn’t appreciate the option to play over a connection that lives in your house’s most secret spaces during these brutal, LAN-less times? I have no reason to use it right now, but I’m very, very glad that it’s at least there.
First Blood will be available on September 23rd, which will be yesterday in only a few days. You will be a few steps closer to your inevitable end, yes, but at least you’ll have some cool new stuff for your videogame. Take solace in that, and then be nice to someone who gravely insults your playstyle/parentage/choice of MOBA (I personally and respectfully prefer LoL, you, um, dooty… faces).

Source: http://adf.ly/WFspT

Money Lessons OFWs Should Know

2013-09-23T02:03:00.001-07:00

Year after year, millions of our fellow Filipinos work abroad to provide a better and secure future for their family.

True enough, OFWs are able to send their children to good schools, provide comfortable homes, and buy the things they need. But, in exchange for this, are the years they spend away from home.

What’s Happening Now
Every month, OFWs send a huge portion of their salary back home in the Philippines.

Whatever is left will be for their personal living expenses. More often than not, what is set aside for savings is spent for emergency expenses and other unforeseen circumstances in the Philippines.

Indeed, they are our modern day heroes. But, if this will be the usual scenario, when will these heroes be able to go home?

What Should Be Happening

Now, I am not saying that sending their salary at home is wrong. In fact, the main reason that OFWs leave the country is to be able to provide a better life for their families.

But OFWs should remember to pay themselves also by setting aside a portion of their income for savings and investments.

The 10-20-70 principle will help them accomplish this. (Read more about it here: How to Budget and Save Wisely)

A huge portion of their salary or 70% can go to their remittances to the Philippines and for other expenses. They can use the 20% for their investments. And lastly, the remaining 10% can go to their emergency fund, tithe, or pasalubong when they go back home.

This way, they will be able to balance their finances and have the peace of mind that they are doing something today for their own future.

What Should Not Happen

After working long years abroad, they go home empty-handed and without any investments.

They are the ones that assumed that after sending ALL their huge salaries back home, there would be enough for them to stop working and stay in the Philippines. They went home, without any savings and investments, and ready to retire because they were able to fulfill their duties to their families.

They should NEVER assume that someone will take care of their money more than them.

Can OFWs invest in the Philippines while they are abroad?

To prevent this from happening, OFWs should learn how to manage their money and how to properly save and invest.

A common question we receive from our OFW fans is can they invest in the Philippines while they are abroad? In this day and age where almost everything can be done online, the answer is YES they can!

For example, in the stock market, they can buy and sell their shares, and monitor stock prices just by having an account with an online brokerage firm. This is also possible for investment in mutual funds.

Every month, they can INVEST a portion of their salary in these investments using the Peso Cost Averaging Strategy. (Read more about it here: Peso Cost Averaging explained)

They can also invest in real estate, insurance, and other instruments.

The important thing to know here is to find out which investment is best suited for each one of them. No one can answer that except themselves.

- Aya Laraya of Pesos and Sense

PSEi weak on profit-taking, absence of new leads

2013-09-23T01:52:00.001-07:00

Philippine shares opened on a weak note Monday as investors continued to cash in on gains from last Thursday's steep climb, and the absence of fresh leads to drive the market kept others from taking fresh and long positions.

The main PSEi was down 28.88 points or 0.45 percent to 6,395.57 as of 10:37 a.m.
"The index was down by nearly 27 points minutes after the opening bell on continued profit-taking and lack of market leads," Elizabeth Abadillo, analyst at Angping & Associates Securities Inc., told GMA News Online.
In a separate text message, Unicapital Securities Inc. analyst Lexter Azurin echoed the same sentiment, saying "the market's drop in the early session is due to profit-taking, as well as lack of leads so far today."
Last Thursday, the index advanced by 117.74 points or
2.81 percent to 6,511.70 at the close after the US Federal Reserve announced it would continue to buying bonds at $85 billion a month – that prompted local foreign funds on a buying spree.
In his daily report, Accord Capital Equities Corp. analyst Justino B. Calaycay said markets begin the week with a relatively “clean” slate after concerns on Syria and Fed... eased off.
“Attention will probably shift to market leaders ahead of an expected quarter-end window dressing," he noted.

Azurin also said the local stock market tracked the declines of Wall Street last Friday despite the rise in most Asian shares Monday.
Reuters reported US stocks dipped on Friday as investors grappled with comments by St. Louis Federal Reserve Bank President James Bullard that a reduction of the Fed's $85 billion monthly bond purchase program beginning in October was possible. – VS, GMA News

Source: Yahoo! News PH

Alliance Global buys stakeholder firms in TrillionStars

2013-09-23T01:45:00.000-07:00

Alliance Global Group Inc., the listed holding company of real estate tycoon Andrew Tan, said it is buying two other stakeholder firms in it's majority-controlled TrillionStars Holdings Inc. which will be renamed Emperador Distillers Inc. with a view to backdoor listing of the liquor unit.

In a disclosure to the Philippine Stock Exchange on Monday, Alliance Global said it agreed to buy
Shiok Success International Ltd. and Dew Dreams International Ltd., which own a a combined 1,431,764,995 common shares in TrillionStars Holdings.
The acquisitions are expected to close on September 25.
"After the settlement of the offering and the completion of the acquisition of Shiok and Dew Dreams, the AGI Group will own approximately 87.55 percent of the total issued shares of TSI or Emperador Inc.," the disclosure read.
On Friday, Alliance Global priced at P8.98 apiece the 1.8-billion share offering of TrillionStars Holdings to raise P16.2 billion.

Last August 29, Alliance Global said it is subscribing to as much as 15 billion shares of TrillionStars Holdings, formerly Touch Solutions Inc., at par value, to be issued from a capital increase in TrillionStars Holdings – to 20 billion from 100 million.
Emperador Distillers said it was planning to double its sales volume in five years to corner a third of the global brandy market in five years. The company sold 31 million cases in 2012.
Emperador International Ltd., the global liquor arm of Alliance Global, is investing P5.8 billion in Spain over the next 12 months in line with a strategy to grow its brandy brand. Emperador International is now buying vineyards and other brandy producers that include distilling and bottling plants in Spain. – Danessa Rivera/VS,GMA News

Source: Yahoo! Philippines

Bangko Sentral wants powers lost restored in Charter revisions

2013-09-23T01:43:00.002-07:00

The Bangko Sentral ng Pilipinas wants to restore some powers it lost through the years, a ranking official said, noting proposals to its Charter

have been drafted anew to ensure a stable financial system and a strong economy.

In a lecture before the media over the weekend, Bangko Sentral Deputy Governor Vicente Aquino said monetary authorities want the central bank to be exempt from paying taxes.

“Even central banks in the region are exempt from tax,” he noted.

The central bank was only tax-exempt within a five-year period after the Republic Act No. 7653 or the New Central Bank Act of 1993 took effect thirty years ago.

A “tax on the central bank means decreased dividends to the national government,” and forgone revenues from a lifting of levies will be offset by more payments to state coffers, the central banker said.
The Bangko Sentral also wants the government to give back its authority to obtain data from any private person or entity. Currently, it has authority to gather data from government agencies.

Restoration of authority to issue negotiable certificates of indebtedness even during normal times was also called for. “It is proposed to allow us to release our own securities, a new tool to mop up excess liquidity,” Bangko Sentral Deputy Governor Diwa Guinigundo said at the same lecture.

Authority to get private sector data and issue debt papers are aimed at putting more teeth to the central banks' monetary policy mandate.

In the area of bank regulations, the Bangko Sentral wants its personnel to have immunity from lawsuits in the course of performing official duties.

It also wants laws on deposit secrecy lifted in favor of Bangko Sentral when examining certain accounts.
“This will strengthen the capability of the BSP to detect fraudulent and irregular transactions shielded by deposit confidentiality,” said Aquino.

While it leaves investigations on alleged money launderers to the Anti-Money Laundering Council, the central bank penalizes financial institutions that do not comply with reporting rules.
These changes were drafted into the central bank's version of
a bill amending RA 7653 that was forwarded to the 16th Congress.

Other salient amendments to the central bank Charter include an additional P150 billion in capital, payable in three years.

“These amendments, once enacted into law, will empower the BSP to effectively respond to challenges and innovations of a globalized economy and perform its constitutional mandates,” said Aquino.

“An empowered BSP results in an empowered economy,” he noted.

Central bank officials have pushed for amendments to RA 7653 in the 15th Congress. The proposed changes were deliberated upon by lawmakers but were never passed. – VS, GMA News

Source: Yahoo Philippines!

SAMSUNG PAYS APPLE $1 BILLION SENDING 30 TRUCKS FULL OF 5 CENTS COINS

2012-08-30T01:08:00.000-07:00

This morning more than 30 trucks filled up with coins of 5 cents arrived at Apple’s headquarters in California. Initially, the security company that protects the facility said it was diverted to the wrong place, but minutes later, Tim Cook (Apple CEO) received a call from Samsung CEO explaining that they will pay $1 billion dollars for the fine recently ruled against the South Korean company in this way.

the funny part is that the signed document does not specify a single payment method, so Samsung is entitled to send him to the creators of the iPhone its billion dollars as they deem best.

This dirty but genius geek troll play is a new headache to Apple executives in the sense of the method that they need to apply for counting all that money, check if it is complete and try to deposit it crossing fingers to hope a bank will accept to receive that.

Lee Kun-hee, Chairman of Samsung Electronics, told the media that his company is not going to be intimidated by a group of “geeks with style” and that if they want to play dirty, they also know how to do it.

You can use your coins to buy refreshments at the little machine for life or melt the coins to make computers, that’s not my problem, I already paid them and fulfilled the law.

A total of 20 billion coins, deliver hope to finish this week.

Let’s see how Apple will respond to this

Source:

Useful Information

Godswar Patch 2.42.007 : Gender Change!

2012-08-23T10:36:00.000-07:00

To change your gender, do the following:

1. Talk to the Plastic Surgeon. You can move to him using the autotrack function.

2. Request to change your gender. It will cost 13,820 Gold to change gender.

3. Once your request is submitted successfully, your gender will be changed soon and you will be logged out of game automatically. Then when you re-enter game, you will find the gender change takes into effect.

* If you are unsatisfied with your appearance after your gender is changed, click here to change your appearance.

Notes

1. To have your gender changed, you have to pay 13,820 Gold.

2. Your gender cannot be changed while you are married or engaged.

3. Your gender cannot be changed while you are wearing any fashion items

Godswar Patch 2.42.007 : New Wonderland Reward System!

2012-08-23T10:34:00.000-07:00

The new Wonderland instance can now be attempted ONCE per day, instead of twice per week as before.

Monster modification

1. The Alpha Demon's damage has been reduced by approximately 20%. Now only 2 explosive turkeys will join battle and no more explosive turkey will join battle after they are slain.

2. No explosive monsters that can cast the Fire Blast spell will fight for the Capritaur Derskey anymore.

3. The Flame Rooster's maximum health has been increased by 900%. While fighting the Flame Rooster, you don't need capture the little turkeys nearby anymore and your attack power and spell power will increase by 900% when you are attacked by any of the little turkeys.

4. The Depraved Platinum Dragon has been moved to the middle area and it has now mastered the Flame Blast spell.

5. The Iberian Multi-headed has mastered the Flame Blast spell too.

6. In the eighth scenario, you will be awarded some points when defeating any one BOSS, but you must defeat all the BOSSes to pass the scenario. The Scorpion King's attack power has been reduced by 10%. The last challenge in this scenario is the Wonderland Chest Guards. They are not tough at all. Remember to open the Wonderland Chest first before you fight the Wonderland Chest Guards.

Points and Medals Won when and passing a scenario and defeating a BOSS

Scenarios	Boss	Points	Medals
1	Alpha Demon	10	50
2	Depraved Monkeyface	20	60
2	Capritaur Derskey	30	70
3	Flame Rooster	40	80
4	Outrageous Rock Spirit	50	90
5	Spartan Marshal Knocker	60	100
5	Athenian Marshal Addis	60	100
6	Depraved Platinum Dragon	70	110
7	Iberian Multi-headed	80	120
8	Distraught Minotaur	90	135
8	Titan's X'mas Deer	100	140
8	Iberian Dragon King	110	145
8	Scorpion King	120	150
8	Mobby	130	150

1200 medals can be exchanged with the Point Exchangers for one specific item as shown below.

Medals	Item
1200	[Promotional Insignia III]*1
1200	[Dust of Destruction]*1
1200	[Dust of Penetration]*1

Godswar Patch 2.42.007 : THE FIFTH ATTRIBUTE

2012-08-23T10:32:00.000-07:00

More advanced equippable items have been introduced and more additional attributes have been introduced too. An equippable item can even be possibly attached up to 5 additional attributes.

1. Only a part of a Class Suit III can have up to 5 additional attributes.

2. Two new items, the Dust of Destruction (negate physical defense) and the Dust of Penetration (negate magical defense) will be introduced. Both the two items can only be imbued to weapons, rings, head slot items, or hand slot items.

3. To obtain a Dust of Destruction or Dust of Penetration, you can only buy one from the Point Exchanges using the medals won from the Wonderland.

Godswar Patch 2.42.007 : CLASS SUIT III

2012-08-23T10:30:00.000-07:00

Now you can equip yourself with a more powerful class suit - Class Suit III! The challenge lies in actually obtaining a Class Suit III, however - you must first overcome tougher challenges in instanced zones!

1. Only a Class Suit II can be transformed into a Class Suit III.

2. Promotional Insignias III are required for transforming a Class Suit II into a Class Suit III. To obtain any Promotional Insignia III, you have to use the medals won when you successfully explore the entire Wonderland.

3. The required amount of Promotional Insignias III for transforming an equippable item into a part of a Class Suit III, and the level requirements for wearing the specific part of a Class Suit III are listed in the table below.

Slot	Level Requirements for Wearing the Part	Required Promotional Insignias III
Ring	131	2
Hands	132	1
Chest	133	3
Necklace	134	1
Weapon	135	3
Feet	136	1
Legs	137	2
Wrists	138	2
Waist	139	2
Shield	139	1
Head	140	3