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Former imf head strauss Editor tms note:Cnn nina dos santos has obtained a copy of dominique strauss kahn tms farewell e mail to the staff at the international monetary fund following his resignation last week. Sent:Sunday, may 22, 2011 6:01 PM As i mentioned in our recent town hall, the former managing director regrets that he is not going to be able to address us in person, but expressed his desire to send a message to fund staff as soon as it was feasible. I have just received the following letter from him, and i wanted to share christian louboutin outlet uk it with you as quickly as possible. You have seen my letter of resignation as managing director of the fund"One of the most difficult communications of my life.I wanted very much to be in touch with you, personally and directly, to express my profound sadness and frustration in having to leave under these circumstances.I am doing so because i believe it to be in the best interests of the institution that i care about so much, and of you, the staff, whom i deeply appreciate and admire. The past days have been extremely painful for me and my family, as i know they have been for everyone at the fund.I am very sorry that this has been the case.I deny in the strongest possible terms the allegations which i now face;I am confident that the truth will come out and i will be exonerated.In the meantime, i cannot accept that the fund"And you dear colleagues"Should in any way have to share my own personal nightmare.So, i had to go. When i first met you,(I am picturing us in the atrium), I confess that all I really had was a sense of commitment to the Fund TMs founding vision of global economic cooperation.This last phrase has always been more than just a slogan for me:I come from a place painfully aware of the slide from economic damage to political strife to war, destruction, and human misery.But i had only the vaguest ideas about how to go about the task.I thank you, all of you, for having sharpened that vision not just for me, but for the world, and for having given it content. The fund tms response to the crisis has been much praised.I don tmt want to leave without remembering with you some key milestones.The early case for fiscal stimulus.The support, analytical and otherwise, for the crisis response by the g20 and the world.The introduction of sensible flexibility in lending tools(Fcls, etc).The large deployment of resources"Both securing them, and using them, including in western europe for the first time in decades.New tools for identifying crisis risks, like the early warning exercise.Stronger engagement with the emerging market countries, especially in asia, and with the low income countries, especially in africa, including with the new zero interest rate loans.The downsizing of the fund"Difficult as it was"And putting the fund tms finances on a sound basis with the new income model.And the historic governance reforms, which have strengthened the sense of ownership across the entire global membership. I also don tmt want to leave without telling you"As perhaps i did not do sufficiently before"That i understand and deeply value all the other work that you did.Milestones are easy to remember and quote, but the daily work of the institution is much, much broader.And in your daily work, you invariably delivered:You provided invaluable expertise, be it in high profile or low key ways, in countless bilateral surveillance and technical assistance missions;You pushed past bureaucratic caution to confront the world tms policymakers with difficult facts;You quietly accomplished all the back office tasks without which nothing can be done;You embraced innovation in every area;And your dedication was without peer. I do not doubt, not for one instant, that what the institution has achieved in the last three and a half years is the fruit of your thinking, your work, your conviction.You should be proud of what you louboutin sale uk have achieved.A tremendous amount of work remains to be done, at a very crucial time;You will deliver time after time, and i will cheer for you when you do so. I feel privileged and humbled to have worked with such an extraordinary group of people.I will cherish our time together. And so my dear colleagues, i say thank you, good luck for the future, and au revoir. Ahhh, the conspiracy theorists are out in full force.Why is so hard to just look at the facts and put political views aside?Dsk has a long record of not exercising self control when it comes to his zipper, but in france these transgressions have been hidden.An relationship at the imf and now a second alleged rape from a very believable source in france.The stories abound about how he has treated women as sexual objects in the past(Including trying to lure two other women working at the sofitel to his room for he a lonely man with little conscience, a large ego and a sexual arousal problem.Logic and reason would lead one to believe he is guilty;Only delusional thought, a ouiji board or tarot cards, mixed with a healthy dislike of sarkozy or the right could lead one to believe he is innocent. Like billions of people, i am certain that he been set up, framed up, too obvious.Strauss kahn is guilty, and the prosecutors will prove it beyond a shadow of a doubt. Google for new details for some more graphic evidence of how much he traumitized this poor christian louboutin sandals woman from guinee. Compared to her, even your average imf economist is a powerful person.So by circulating this email, john lipsky is aiding and abetting strauss kahn. Will lipsky circulate to all imf staff an email from the victim attorney?Seems only fair. I am disgusted at the circling of wagons by rich, over educated, privileged imf employees.Face the facts:Your former boss is a rapist. Well crafted email, but it doesn exonerate this alleged rapist.His prior bad acts should have put people on notice of what he was.If the european press, particularly the french, had chosen to expose him for the crude pig he apparently is, he may not have been in the us to catch a dose of the us judicial process. When it is found that there is no grand conspiracy and that dsk just is what he is, what then will dsk enablers and apologists say?Perhaps they can save their kind words and fond remembrancesfor the sentencing hearing. By the way, if you don like the perp walk, don commit the crime in the us.It so much more in europe plus dsk acts of this nature are passed off as the seducer in action. The guilty ones, in a way, are those who were supposed to watch after him.The guy was under mortal threat(By himself! ).So, anne and the team of christian louboutin ballerinas 4 french close advisors should have provided 24h surveillance(Private security firm)When dominique not in public(In addition to possible medical treatment for sex addiction:I am not sure such treatment exists or is efficient).The all thing would have never happened with a permanent body guard next to him.Too bad a judge had to come up with such a simple and obvious solution. Its a set up.Why?Isnt it obvious.Everybody isnt as stupid as u give us peons that actually work for a small slice of life.Not everyone was born into money, and power.All you rich a holes cover each others back.If it would of been some other rich a hole it would if been covered up and the media wouldnt of covered it.The maid would of been payed off.Strauss is just another victom of political assassination through scandal.Us peons are just about sick and tired of failed promises and greed of the super rich.A million to them is nothing.To a peon it could b a life changing relief.Thats chump change compared what has been spent in the last 10 years on war.And dont give me its to assure my freedom speech either.Its all about fear propaganda.You all need to be fired. Here is a more likely rendition of the story as it really happened;Dsk traps female in his room.Yes, he is naked, no he is not going to rape her.However, dsk flips his wallet out, throws down a $500 bill, and offers it to the cleaner for a quick bj before leaving to go home on his flight.After she agreed, performed and then spat it out on the carpet the deed is done and everybody goes thier separate ways until the female staffer tells another staffer what took place.After a few minutes of conversation and equipped with the new knowledge of the man real wealth she decides to call her stupervisor and yell rape.Now it becomes a conspiracy and two or three of the female employees help spread some fictional accounts about him calling them for a drink or two so they can help bias the jurors.Now staffer 1 can sue him for $5, 000, 000.00 and DSK has to go to jail.How is that for a story? It is very much ignoring human nature not to understand that a man or a woman can be highly intelligent, caring in some areas of their lives but psychotic in others.We don know what happened in that hotel room but the french(At least)Know what happened to a female journalist victim of a sexual assault by the very man and this was confirmed by her mother, herself journalist and politician in the socialist party.He also used his position to pressure an economist into having sex with him in yet another occurence.This guy is not so much of a womaniser as we liked to believe, he may have been a brillant leader for the imf, a brillant friend, a brillant husband but he is also a sex offender from past incidents, he needs to be dealt with in court like any other individual posing a risk to others and he needs to be treated, should he admit his addiction.

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Another summer michael kors sale uk value play Investors in 13, 000 employee watch maker fossil inc. (Nasdaq:Fosl)Have been taken on a ride this year.After purchasing at $90 levels in november and selling to breakeven in early 2012 after a long stretch in the red, i missed out on the tremendous jump to $130 levels after fossil's cash acquisition of skagen designs, inc.This news was embraced by the markets in the bull run early this year, and much anguish was felt over missed opportunities. However, more recently, I was vindicated as shares ofFosl fell 40% on May 8 in the biggest percentage drop in share price in the company's public history.Today, the stock is trading at $71 levels. Among its peers and competitors, fossil, inc.Has one of the lowest p/e ratios at 15.16:Tiffany co. (Nyse:Tif)Has a p/e of 17.93;Signet jewelers(Nyse:Sig)Has a p/e of 12.24;Jarden corp. (Nyse:Jah)Has a p/e of 15.36;Movado group inc. (Nyse:Mov)Has a p/e of 19.9;And blueNile, inc. (Nasdaq:Nile)Has a p/e of 48.38.In terms of market capitalization, fosl is in a strong position with an approximate $4.4 billion valuation;However, this is half of the $8 billion+ peak value reached in january of this year.With customers across a wide range of styles and markets, including neiman marcus group inc., Nordstrom Inc. (Nyse:Jwn), Target Corp. (Nyse:Tgt), and Wal Mart Stores(Nyse:Wmt), along with standalone retail stores across the world, Fossil Inc.Is in a powerful place in the consumer specialty retail world.Department stores"As factors that impeded sales in q1: "During the first quarter, we were unfortunately not firing on all cylinders,"Chief executive kosta kartsotis said on a conference call. Fossil, which has seen its annual revenue double over the past five years, posted a 4.2% rise in first quarter earnings, provided second quarter guidance below Wall Street expectations and lowered its full year earnings projections.The outlook surprised investors because it included the company's recently completed acquisition of watch maker skagen designs in april for $231.7 million. "Momentum slowed for fossil as european economic dismay, negative comps for the key korean market and the repositioning of the fossil branded jewelry led to lower than expected top line result,"Said eric beder, retail analyst at brean murray carret co. The results and outlook sent shares plunging, with the stock falling $47.25, or 38%, to $78.52.The decline wiped out the stock's michael kors outlet entire 2012 gain of $46.41, or 59%, before Tuesday. Other retailers with either significant exposure to europe or a luxury bent also fell.Guess inc. (Nyse:Ges)Lost 5.5% to $26.50, MichaelKors Holdings Ltd. (Nyse:Kors)Dropped 5.3% to $41.75, Saks Inc. (Nyse:Sks)Declined 4.4% to $10.23, Ralph Lauren Corp. (Nyse:Rl)Lost 3.2% to $163.38, Coach Inc. (Nyse:Coh)Fell 1.8% to $70.80, and Tiffany Co.Retreated 1.5% to $64.75. However, the worthwhile aspects of may 8 to examine for investors now are in regard to future share price movements.Though the company offered a weak outlook for q2 2012(Expecting eps of $0.77 $0.79 on 16% sales growth), the market is dramatically understating the value of the company, especially in the long term.This is demonstrated by the solid retail metrics reported in the q1 earnings call but overshadowed by the above news retail same store sales rose 7.7%;Direct to customer revenue increased 18%;And wholesale sales for fosl were up 7.5%.Taking a closer look at fossil's equity shares, we see that these positive business fundamentals translate well into fosl's current metrics:Forward p/e stands at 11.32, with PEG of 0.77, P/S of 1.66, P/B of 3.87, and P/FCF of 35.19.Fossil's current ratio is a healthy 3.9, and in terms of capital structure, debt/equity is very low at 0.02.Potential shareholders can be assured by the fact that insiders own nearly 10% of the company.As if that all weren't enough, roa stands at 20.7%;Roe at 27.66%;And roi at 26.09%. As far as the variant view goes, downside risk on fosl certainly does exist.The potential for further slowing of german and korean sales exists, as does a negative adjustment in asian sales growth in the upcoming q2 earnings call.As european sales comprise about 30% of the company's sales and asian sales make up 20%, such potential declines would necessarily preclude positive earnings michael kors outlet online growth for investors into future quarters of this year and the holiday season.However, fosl isn't the only company exposed to these risks.All the competitors mentioned above, as well as calvin klein/tommy hilfiger holding companyPvh corp. (Nyse:Pvh), Warnaco Group Inc. (Wrc), Timberland/North Face group VF Corp. (Nyse:Vfc), Abercrombie Fitch Co. (Nyse:Anf), and licensing partners Burberry Group and Michael Kors HOldings are all vulnerable.In the final analysis, the factors pushing fosl up outweigh and do so by a wide margin. Fossil's next earnings report is scheduled for release on august 7, 2012.At last earnings release on may 8, the company reporter eps of $0.93.Recently, analysts with citi have upgraded outlook on fosl, citing a"Beaten up"Valuation.Given all of these developments, rational investors would be unwise to let fosl remain unloved.In the next few months, the potential for significant growth exists.Insiders at the company certainly recognize this, as they bought shares by the truckload very recently, taking advantage of the precipitous price decline.As one analyst stated shortly after may's bad news,"Fossil's business model is far from broken, with a powerful fleet of licensed brands, and remains a double digit growth story over the longer term. " My conservative target price for fosl shares is $110.I'm trying to get in on fosl this week at $71, and will buy anywhere before $80.Since it's likely the last time this opportunity will exist, so should you.

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29.4.15 03:17, kommentieren

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