food industry and receive a median hourly wage of $8.94 per hour.In contrast,Air Max Tailwind 6 2015 Beige Orange, the NELP said first-line supervisors, with a median hourly wage of $13.06 per hour, make up the remaining 8.7% of jobs in the fast food industry. <div
xLx"*jyL US Hedge Fund Hayman Capital Bets on Argentine Bonds Despite Default RiskBy M RochanFebruary 4, 2014 16:18 GMTKyle Bass, the founder and principal of Hayman Capital Management.ReutersHedge fund manager Kyle Bass believes investors can still profit by lending to Argentina,Nike Air Max 90 EM UK, Latin America's third-largest economy.Bass does not think Argentina's $475bn (￡291bn, ?351bn) economy will burden creditors with losses an eighth time.Bass, who purchased Argentine bonds at 55 cents on the dollar in 2013, has no plans to sell them. He profited by betting against US mortgages in 2007.However, global investors say there is an 86% chance that Argentina will quit paying in the next five years."There's huge opportunity in these bonds," said Bass, who manages about $2bn for Dallas, US-based Hayman Capital Management. "I know you can't see that today, but today's the time to be thinking about it.""I think in the next year or two, really interesting things will happen," Bass told Bloomberg."It's the single most interesting country to contemplate investment in," he added."In the last 100 years, Argentina has gone from being one of the darlings of foreign investors to being one of the scourges," said Walter Molano,Nike Flyknit Air Max 2015 Mens Black Green, author of In The Land of Silver: 200 Years of Argentine Political-Economic Development."And it's happened on several occasions. The outlook for Argentina is a difficult one. They've really made the economy into a mess," Molano told the news agency.Habitual DefaulterArgentina has been sued in the World Bank's arbitration court by several investors and companies,Nike Air Max 2014 Blue UK, including Germany's Siemens, French firm Total and US-based AES.The South American nation has cheated creditors seven times since it gained independence from Spain in 1816, and following the latest default, in 2001, Argentina has yet to chalk out a settlement with its financiers.The 2001 default fuelled Argentina's deepest recession. Some 100 companies stopped payments on their obligations after being saddled by dollar-denominated debt and revenue in pesos.Investments by private-equity firms including Blackstone Group were nearly erased.Citicorp and Baring BrothersAfter two Argentine defaults, in 1982 and 1989, Citicorp, the predecessor to Citigroup, traded some of the near-valueless debt it held for stakes in state-run companies.In the early 1990s, as Argentina grappling with hyperinflation, pegged the peso to the US dollar and began selling off those companies, the value of those stakes surged generating hundreds of millions of dollars in profits for the bank and clients such as George Soros.Argentina first shook international markets in 1827 and then again in 1890, when a poor wheat harvest and a coup in the capital Buenos Aires resulted in a default that hurt British investors and forced the Bank of England to rescue Baring Brothers.RelatedArgentina's Central Bank Spends $115m to Control Slide in PesoArgentina President Kirchner Fights Peso Devaluation <div
;Z ]<S_#- US Justice Department Wants BP Banned From Future Government ContractsBy M RochanJanuary 30, 2014 09:18 GMTThe US Justice Department wants BP excluded from all future US contracts.The US Department of Justice wants oil giant BP excluded from any new contracts with the US government because it has not demonstrated that it is a "responsible" federal contractor following the 2010 Gulf of Mexico oil spill disaster.BP is fighting to overturn the US Environmental Protection Agency's (EPA) 2012 decision that banned its subsidiaries from pitching for any new contracts to supply oil to the American government.RelatedUS Lobby Groups Join UK Government Against BP Environmental BanThe British firm, among the biggest suppliers of oil to the US Defence Department, initially thought the ban was temporary.However, the EPA has not revoked the "mandatory debarment", arguing that BP has still not rectified the problems that led to the explosion on its Deepwater Horizon oil rig in 2010.Robert Dreher, acting assistant attorney general for the US Department of Justice, said in a court filing this week that the EPA was "wholly reasonable" for coming to the conclusion that BP's "latest round of plans and promises is insufficient to demonstrate that BP is a responsible federal contractor", reported The Telegraph.In a statement, the oil giant said: "As stated in our motion, BP believes that the EPA's disqualification and suspension decisions should be invalidated because they are arbitrary and capricious, contrary to the law, and an abuse of discretion."Importantly, the EPA had no basis to designate BPXP's headquarters in Houston as the "violating facility" under the relevant disqualification statute, nor can it make the required showing that 'immediate action' was necessary when it based the suspension on events that happened more than two-and-a-half years before the suspension, particularly when the government continue
