Ben Bernanke, British parliament members, Climate Change Conference 2009 Geneva, Federal Reserve, global economic crisis, House Budget Committee hearings, International Economic Forum St. Petersburg Russia June 4 - 6 2009, NAREIT investor forum June 4 2009, Paris Air Show, US Congress, US economic crisis, World Meteorological Organization
World Climate Conference-3
Climate prediction and information for decision-making
31 August – 4 September 2009
Geneva International Conference Centre
(from WMO newsletter page)
WMO statement on the status of the global climate in 2008
The year 2008 ranked as one of the warmest years on record according to the analyses made by leading climate centres.
World Meteorological Society Newsletter
U.S., Europe Share of Economy to Fall to 49% in 2009, CEBR Says
June 2 (Bloomberg) — The U.S., Canada and Europe will generate less than half of global economic output this year as the recession accelerates a shift in wealth toward China and other nations, a research group said.
The three economies will together account for 49.4 percent of the world economy in 2009, the London-based Centre for Economics and Business Research Ltd said today in its quarterly ‘Global Prospects’ publication. That’s down from a range of 60 percent to 64 percent between 1995 and 2004.
To contact the reporters on this story: Mark Deen in Paris at firstname.lastname@example.org
Last Updated: June 1, 2009 19:05 EDT
First Industrial Realty Trust to Present at the 2009 NAREIT Investor Forum
CHICAGO, June 1 /PRNewswire-FirstCall/ — First Industrial Realty Trust, Inc. (NYSE: FR) , a leading provider of industrial real estate supply chain solutions, will present at the 2009 NAREIT Investor Forum on Thursday, June 4, 2009 at 9:30 a.m. EDT (8:30 a.m. CDT).
A webcast of the presentation will be available on First Industrial’s website at www.firstindustrial.com under the “Investor Relations” tab. A replay of the webcast will also be available on the website through Friday, June 19, 2009.
First Industrial Realty Trust, Inc. (NYSE: FR) provides industrial real estate solutions for every stage of a customer’s supply chain, no matter how large or complex. Across major markets in the United States and Canada, our local market experts buy, (re)develop, lease, manage and sell industrial properties, including all of the major facility types – bulk and regional distribution centers, light industrial, manufacturing, and R&D/flex.
0730 GMT WEDNESDAY, JUNE 3 WASHINGTON – Federal Reserve Chairman Ben Bernanke testifies on challenges facing the economy before the House Budget Committee
ST PETERSBURG, Russia – International Economic Forum (June 4 to June 6). The European Union, the United States and Russia will hold detailed ministerial talks on Moscow’s bid to join the World Trade Organisation on the margins of the Economic Forum.
WEDNESDAY, JUNE 10
WASHINGTON – Federal Reserve to release periodic Beige Book survey of U.S. economic conditions.
BEIJING – Institute of International Finance Spring Membership Meeting (to June 12). Participants include Paul Volcker, chairman, U.S. President’s Economic Recovery Advisory Board; Republic of Korea Prime Minister Han Seung-soo; People’s Bank of Chia Governor Zhou Xiaochuan; and Liu Mingkang, chairman, China Banking Regulatory Commission.
TOKYO – Panel discussion on Japan’s economic outlook hosted by the Nikkei. Panelists include Kazuo Monma, chief economist at the Bank of Japan –
(from – Reuters )
* JUNE 3, 2009
In Europe, a U.S. Way To Fix ABS Market?
By NEIL SHAH and STEPHEN FIDLER
LONDON — Bankers are pushing European policy makers to consider a U.S.-style program to aid the region’s economy by reviving the moribund market for bundled consumer loans.
Officials at the European Securitisation Forum, a trade group representing banks and other market participants, said Tuesday that central bankers should consider stepping in with a program similar to the U.S. Federal Reserve’s Term Asset-Backed Securities Loan Facility, or TALF, which provides loans to private investors who buy new securities tied to consumer loans.
My Note – let’s hope they don’t do that. They durn well need a better plan.
U.K. Home Secretary to Resign Cabinet Post
LONDON — U.K. Home Office Minister Jacqui Smith will resign her post, a person familiar with the matter said, becoming the most senior member of Prime Minister Gordon Brown’s team to leave amid a scandal over politicians’ reimbursement claims.
Ms. Smith, who oversees counterterrorism, immigration, law enforcement and other areas, will depart when Mr. Brown unveils a cabinet reorganization, this person said, but she plans to run for re-election to Parliament.
Meanwhile, three more Labour members of Parliament said they won’t seek re-election, and a fourth said he is quitting his ministerial role, bringing to 16 the number of MPs who have stepped down or decided not to continue in their roles since newspapers began publishing reports of expense claims by political figures.
Earlier this week, Mr. Brown floated a plan to create a code of conduct for Parliament.
Write to Alistair MacDonald at email@example.com
Organizers upbeat for this month’s Paris show
Despite the current economic crisis and the absence of two major U.S. business jet manufacturers (Gulfstream and Cessna), organizers of the Paris Air Show have said that this year’s event will not be down significantly in size compared with years past, when the industry has been more buoyant.
According to Paris Air Show managing director Gilles Fournier, the “few cancellations” have been largely offset by “more clients in the chalets.” The Paris Air Show is celebrating its centenary during the June 15 to 21 event at Le Bourget Airport on the outskirts of Paris. The first four days of the show are exclusively for trade visitors, with gates open to the public from June 19.
French Prime Minister François Fillon is expected to open the show officially on June 15 and French President Nicolas Sarkozy will visit the event on June 20. In addition to exhibits, daily aerial performances and static displays, the 16th “Forum Air et Espace,” a major aerospace careers fair organized by Gifas, will be held from June 19 to 21 in the Concorde Hall during the three public days. Some 60 companies and school centers (engineering colleges, universities and apprenticeship centers) will present their recruitment requirements and teaching programs to an audience of 30,000 high-school and university students, young graduates and job seekers.
The first exhibition was held in 1909 at the Grand Palais, but when it moved to Le Bourget in 1953 it became a biennial event. Thus, even though it has been in existence for 100 years, this will be the 48th edition, all sponsored by Gifas, the French aerospace industries association. This year marks several other significant milestones for the aviation industry: the 40th anniversary of Airbus; the 100th anniversary of the first powered flight across the Channel between France and England; and the 40th anniversaries of the first moon landing and the first flights of the French and British Concorde SST prototypes.
Organizers had hoped to have two new designs debut at the celebration, but both the Boeing 787 and the Airbus A400 military cargo aircraft are too far behind schedule to appear this year. However, two U.S. Air Force F-22 Raptors will be making their first appearance and will perform daily for airshow visitors.
“We are definitely making a big splash,” said Sherry Epperson, director of international events for the U.S. Aerospace Industries Association. The U.S. Department of Defense will have 11 other aircraft on display, including the B-1B bomber, C-17 transport and three multirole attack aircraft– the F-15, F-16 and F/A-18.
Russia’s new 95-seat Sukhoi Superjet 100 is also due to make its full international debut at the show as it prepares to complete certification by year-end. Deliveries were originally slated to begin in 2007.
Up to 150 display aircraft are expected to alight at Le Bourget this year. As of April, organizers had confirmed just over 80 of these, with exhibitors evidently still considering the practicalities and significant costs involved in showing aircraft in Paris. For example, there are doubts as to whether Russia’s MiG-35 and Sukhoi Su-37 high-performance combat jets will be on hand to wow the crowds, with the country’s United Aircraft debating whether it can justify the insurance costs–estimated at up to $700,000 per aircraft in this case–that must be met before any aircraft can perform in the flying display.
Billed as the world’s largest airshow, Paris 2009 is projected to be a temporary home for approximately 2,000 international exhibitors and some 150,000 trade visitors from more than 140 countries. Also expected are 200 official delegations, 200,000 public visitors and 3,500 journalists.
At an April 3 press conference in London, Fournier acknowledged that the number of trade visitors might turn out to be less than in previous years as participating companies reduce costs by sending smaller teams. “We probably will see some reduction in professional visitors from the big companies, who might, for instance, bring 150 people to the show instead of 200,” he told AIN. “But the ones who do come will come to do real business and we expect more public visitors this year because of the centennial event.”
Organizers estimate that on average the larger Paris exhibitors are reducing the amount of space they occupy by around 5 to 10 percent this year. For example, France’s Safran group is combining all its various subsidiaries, including Snecma, Turbomeca and Messier Dowty, into one exhibit that will be about 25 percent smaller than in previous years.
By contrast, participation by small- and medium-sized enterprises (SMEs) is proportionally higher and now accounts for as much as 75 percent of the whole show. Fournier said that he expects companies in the aerospace supply chain to enjoy a higher profile at this year’s show, due to the somewhat reduced presence of the main OEMs. “In times of crisis, fairs and exhibitions are very important for SMEs and we can see that they are investing more to be more visible,” he commented.
Despite the severe pressure on exhibiting companies to cut their costs, Paris has not reduced its fees for exhibition space. Fournier said that the show is unable to do this because French aerospace industry association Gifas counts on the income for its activities.
The Paris organizers acknowledge that feedback from the 2007 show indicated they have not yet met their own targets in terms of customer satisfaction, achieving an average score of “around 7 out of 10” compared with the goal of 7.5. Nonetheless, they have spent around ?7 million ($9.1 million) on improvements to the show site and more investment is expected in time for the 2011 event.
Another feature of the Paris Air Show is a special business-to-business service that arranges meetings between smaller suppliers and purchasing managers for OEMs.
The service is arranged by the BCI group, which builds a database of exhibitors and buyers, automatically matching openings in their schedules. For ?400 ($520), companies can have multiple meetings booked for them, with times and venues confirmed online three or four days ahead of the show. This money is refunded if clients don’t get the meetings they want or are unhappy with the service.
The 27 national pavilions will include those of Japan, South Korea, India, Poland, the Czech Republic, Mexico (which has an increased presence), Brazil and the United Arab Emirates. Chinese firms are also set to have a large presence at Le Bourget.
Louis Le Portz, chairman and CEO of the Paris Air Show, told journalists in Washington that in addition to selling out all 350 chalets, organizers had sold 550,000 sq ft of stands (covering 100 percent of the venue capacity and one temporary hall for the last to arrive).
More information about the 2009 Paris Air Show can be found at http://www.paris-air-show.com.
100 Years – Paris Airshow – Le Bourget
|2009 : a full house for the show’s centenary!|
The 48th International Paris Air Show – Le Bourget, which takes place 15-18 June 2009 for trade visitors and 19-21 June 2009 for the general public, is already fully booked!
With just a few weeks to go before the opening, all the main players – manufacturers and subcontractors – have confirmed they will be present and look forward to seeing you to celebrate the Show’s centenary together.
In this section you will find some essential tools to help you prepare for the Show:
Pictures – Photos from Paris Airshow 2008
ST. PETERSBURG, RUSSIA June 2, 2009: Nissan President and CEO Carlos Ghosn today joined more than 1000 guests and employees at the opening event marking the start of production at the company’s new US$200 million assembly plant in St. Petersburg, Russia. With the capacity to produce 50,000 vehicles a year, the facility will build the business-class sedan Nissan Teana and Nissan X-TRAIL compact sport utility vehicle.
The inaugural ceremony was attended by the representatives of federal and regional government led by Mr. Vladimir Putin, Prime Minister of Russia with Valentina Matvienko, Governor of St. Petersburg.
“This is Nissan’s breakthrough in Russia,” said Ghosn. “The opening of our plant in Saint Petersburg in the current conditions underlines our confidence in the high potential of the Russian economy. With the start of production at our new plant Nissan become an integral part of the local community.”
The St. Petersburg Plant is scheduled to employ 750 workers at start of production with one shift. Additional jobs are being created by Nissan supplier companies and businesses that will support operations at the St. Petersburg Plant. The new plant will be an important contributor to Nissan’s vision of sustainable growth and return to profitability.