Tuesday, February 4, 2014

[DONDEQUIERA] Wealth Destruction - A Black Hole of Despair Devouring Our Dreams In the Night

A Black Hole of Despair
Devouring Our Dreams In the Night
For me, the most shocking part our Puerto Rico's ongoing recession (depression?), is the vast fortunes of wealth that have disappeared.  Plant closings are huge write-offs for most corporations.  Think of it, they literally write those resources off of their books.  Instant wealth destruction.  What once had value, now has none.

Here is another sad tale of the ever-vanishing value* of Puerto Rico:

Three Pharmaceutical Companies to Close Plants in Puerto Rico
Abbott Laboratories ($ABT) is cutting jobs, with plans to whack a plant in Puerto Rico. The company just won't say how many jobs are on the chopping block. Abbott spokesman Scott Stoffel mentioned plans to close a manufacturing plant in Barceloneta in mid-2015.  Abbott has about 1,500 employees across the island.  
The plant closure is another tough hit for that part of Puerto Rico. In November, Pfizer ($PFE) said it would shutter a plant in Barceloneta by 2017 but couldn't say how many employees will lose jobs as a result. It has three plants and about 2,700 employees on the island. 
At about the same time, Merck ($MRK) said it would cease production at an active pharmaceutical ingredient plant in Barceloneta late in 2014 and move the formulation and packaging done at the facility to a contractor. It also intends to move formulation operations at its plant in Arecibo to its Las Piedras facility, and all of that work will go to a contractor by the end of 2016, it said.
From FiercePharma.

wealth destruction = less wealth ≈ less value

Publicado por Blogger en DONDEQUIERA el 2/04/2014 01:35:00 p. m.

Monday, February 3, 2014

[Puerto Rico Python Interest Group] Less than 3 weeks!

#PuertoRico #Python #userGroup hosting an evening of #LightningTalks on February 20th: http://mstrb.us/1n75Kk4

Posted By Blogger to Puerto Rico Python Interest Group at 2/03/2014 04:13:00 AM

Sunday, February 2, 2014

[Guagua Pública] YouTube's Affiliate Revenues Dropping Due To Lower Ad Prices

On YouTube, only thousands of channels, among the millions available earn six figures in ad revenue

Olga Kay, who already earns six figures in ad revenue, shares a growing list of worries with other creators: the precipitously dropping prices that advertisers are willing to pay, the huge increases in uploaded content that has made it harder for viewers to find their work, and the escalating costs of producing higher-quality content.

Robert Kyncl, Google’s head of content and business operations, acknowledged the fundamental tension built into the YouTube business model. Yes, he acknowledged, revenue per views is depressed and will probably drop even further in the near future as high-growth markets like Brazil and Russia continue to expand.

Posted By Blogger to Guagua Pública at 2/02/2014 10:37:00 AM

Saturday, February 1, 2014

[DONDEQUIERA] Puerto Rico Vanishes from the S&P 500

Well it might not actually be an example of vanishing wealth, in January, Puerto Rico bonds facing possible junk ratings were pulled from the S&P National AMT-Free Municipal Bond Index.  Standards and Poor claimed the decision was because of [Puerto Rico]s debt's outsized yields and spotty liquidity.

Bottom line, S&P just made it harder to keep our bond industry from crashing and burning.   The policy shift, announced Jan. 8 and effective last Friday, raises worries that demand for Puerto Rico debt from investors tracking the index will soften when the Caribbean island is readying a bond sale or other possible financing.

Publicado por Blogger en DONDEQUIERA el 2/01/2014 08:19:00 p. m.