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Signs of the Times for Wed, 08 Nov 2006

AP
04/11/2006
CARACAS, Venezuela - Venezuelan President Hugo Chavez threatened Saturday to halt oil exports to the United States and said opponents of his leftist government are not welcome within the military or the state-run oil company.

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By Anna Smolchenko
Moscow Times
Wednesday, November 8, 2006
Gazprom deputy CEO Alexander Medvedev warned Tuesday that Russia would cut off gas to Georgia if it failed to reach agreement on new gas prices for 2007 as the standoff between the two countries continued.

Medvedev cautioned Georgia not to repeat the same mistakes as Ukraine, which was hit by gas shortages when Gazprom cut off supplies for two days over the New Year amid a price dispute, sending shivers throughout Europe about the security of supplies.

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The Moscow Times
Wednesday, November 8, 2006
Government officials are pocketing bribes of more than $240 billion per year, an amount comparable to the state's entire revenues, a senior prosecutor said in comments published Tuesday.

Bribery is so rampant that "an average official on the take can buy a 200-square-meter apartment in a year," First Deputy Prosecutor General Alexander Buksman said in an interview with state-owned Rossiiskaya Gazeta.

A 200-square-meter apartment in Moscow costs from $1 million to $5 million, said Oleg Repchenko, a real estate analyst who runs the IRN.ru web site.

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BLOOMBERG NEWS
November 7, 2006
Never in the history of Wall Street have so many earned so much in so little time.

Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. are about to reward their 173,000 employees with $36 billion in bonuses. That's a 30 percent increase from last year's record, and it doesn't include the billions more that will be paid by Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., the three largest U.S. banks, as well as the hundreds of hedge funds and private-equity firms that constitute the financial industry.

Enriched by the unprecedented value of takeovers, equity trading and credit derivatives, "this year will be the best ever for the major brokerage firms," said Brad Hintz, an analyst at Manhattan-based Sanford C. Bernstein & Co.

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Semnan, Nov 8, IRNA
Supreme Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei, currently on a three-day visit of this northeastern province, said here Wednesday that a majority of world countries believe the monopoly of certain powers on nuclear energy should be broken.


Tehran, Nov 7, IRNA
Foreign Minister Manouchehr Mottaki said on Tuesday that Iran and France were seriously determined to expand political, cultural and economic ties.

Mottaki made the remarks in a meeting with member of French National Assembly Xazier de Roux while pointing to deep-rooted ties between the two sides.

"Iran and France enjoy great potentials to develop cooperation.
France is an important European partner for Iran," he said.

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By James Kilner
Reuters
Tue Nov 7, 2006
MOSCOW - A shortage of information technology graduates from Western universities is leading companies to call on developing countries to meet research demand, Microsoft chairman Bill Gates said on Tuesday.

After the break-up of the Soviet Union, Russia's internationally renowned education system became a cheap talent pool for the West. Now dozens of Russian language Web sites offer computer programming jobs in the United States, alongside visa support and language training.

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Comment: How many IT people in the US can't find a job, or have accepted another job outside their field of expertise? It isn't simply a question of supply and demand. When it comes to US companies tapping Russia's "cheap talent pool", the key word for the companies is "cheap". It is no coincidence that this is happening in the US. Manufacturing and support jobs were sent overseas. Now design and engineering jobs are increasingly sent overseas. What is left? A bunch of executives to run the show, all the while talking about how the New Economy is an "Information Economy" where the US exports its knowledge and expertise instead of goods - or even blueprints for those goods. In other words, the psychopaths get rich while creating an economy fueled by nothing more than hot air. Eventually it will all come crashing down, but they don't care. They'll be rich and retire early to some tropical island lair while we all suffer the consequences.

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