February 29, 2012 Headlines: Romney wins MI, Manufacturing Expands, Stock Markets Up, and More
Posted by smorgante on 02/29/2012
NYT: Mitt Romney wins his home state of Michigan, despite his opposition to the Auto Rescue in 2008.
WSJ: Manufacturing expanded in the Mid-Atlantic region in February.
TIME: An increase in fuel prices could help domestic manufacturers due to shorter supply chains.
WSJ: The Hang Seng in Hong Kong is one of the best performing stock markets this year.
The Hill: Meanwhile, the Dow Jones Industrial Average managed to close above 13,000 for the first time since 2008.
WSJ: For the first time, Chinese citizens are able to move yuan outside the country.
AP: Rescue efforts have stopped after a chemical plant in China suffered an explosion.
WSJ: Don’t worry, the slowdown in equipment orders is just temporary.
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China trademark battle
You guys should check-out/comment on Apple's battle to keep rights to iPad name in PRC. Apple sought to secure rights to the name years ago. They don't do that directly because all the 2-bit dicatorships will extort Apple. So they use a subsidiary to go around and secure the rights. In China, the subsidiary bought the name from ProView which was a nearly bankrupt computer display company. Well, the iPad "takes off". Now ProView says they didn't sell the rights.
Apple is in middle of lawsuits in PRC (kind of funny to even have a lawsuit, but maybe PRC is really different). ProView says it wants 400 Million (pocket change for Apple). Fascinating...
If Apple pays, then I would say they are guilty within Foreign Corrupt Practices Act; its a bribe/kickback/extortion. Thats interesting (and the likely outcome which will be settled "quietly).
If PRC respects Apple's agreements, then perhaps PRC is a real country now (not likely). I really depends on which Party people will benefit or be harmed (local manuf vs. central power wanting to keep Apple "on the hook"). And don't forget that FoxConn (in PRC) makes all the Apple stuff.
And what about the companies that make the "knock offs" already? What Party boss gets that money?