28 November 2008


report profit.

Brad Evans

27 November 2008

GE will participate in bailout

GE Capital is a bank.

Brad Evans


annual report is available (in Dutch). I can't find it in English (yet?).

Brad Evans

26 November 2008

Manchester United: AIG to remain

sponsor. GBP 14 million/year! If AIG backs out, LG and another company are lined up to take their place.

Brad Evans

25 November 2008


in financial straits?

Brad Evans

Sheffield Wednesday

posts a profit. Analysis of Annual Report here.

Brad Evans


has a loss for 2007/2008. Annual report for 2008 here.

Brad Evans

24 November 2008

Sodium oxybate

is GHB. It's currently being used for excessive daytime sleepiness and cataplexy. Now, it may be approved for fibromyalgia, according to DIA:

Sodium oxybate may reduce pain in patients with fibromyalgia, study suggests.

Bloomberg News (11/21, Pollack) reports, "Jazz Pharmaceuticals Inc. and UCB SA said their treatment for fibromyalgia," sodium oxybate "reduced patients' pain and fatigue in an advanced study." In the study of 548 patients," researchers found that "sodium oxybate, helped patients achieve a 30 percent reduction in pain compared with a placebo." Jazz will "ask by the end of 2009 that the U.S. Food and Drug Administration clear the therapy for sale. UCB anticipates requesting European Union clearance later."

Brad Evans

Viagra #2

Pfizer wanted to make it over-the-counter, but abandoned this idea, according to DIA:

Pfizer abandons bid to make 50-milligram Viagra available OTC in Europe.

The AP (11/20) reported, "Pfizer Inc. said Thursday it has withdrawn an application to make 50-milligram Viagra (sildenafil citrate) tablets available over the counter in Europe."

According to Bloomberg News (11/21, von Schaper), Pfizer "pulled its application with European regulators to sell a 50-milligram dose to consumers for over-the-counter use, the European Medicines Agency's (EMEA) Committee for Medicinal Products for Human Use said in a statement." The company "has been authorized to sell the prescription drug in the European Union since 1998 in 25-milligram, 50-milligram, and 100- milligram doses."

BBC News (11/20) reported that "the EMEA's Committee for Medicinal Products for Human Use (CHMP), had major concerns over making Viagra available over-the-counter." According to a CHMP spokeswoman, if Viagra "is available without prescription, there is no medical supervision which could delay diagnosis of underlying disease. The CHMP was particularly worried about the diagnosis of overt and silent cardiovascular disease, of which [erectile dysfunction] can be an early marker." She added that "a switch to being an over-the-counter medicine could lead to an increase in people who are not intended users taking Viagra recreationally."

The Financial Times (11/20, Jack) added that "the decision is a setback to Pfizer's efforts to boost sales in the increasingly competitive market for erectile dysfunction drugs ahead of the expiry of its patent in 2013, in the face of growing sales from two patented alternatives as well as many unregulated suppliers of counterfeits." If the company's application to the EMEA "had been approved, it would have only been the second [European Union]-wide approved switch of a prescription drug to non-prescription use. Alli (orlistat), GlaxoSmithKline's weight-loss medicine, was approved" in October. The Times noted that "the drug's growth had been restricted because many governments' national health services and health insurance funds failed to reimburse patients prescribed it." The U.K.'s Press Association (11/20) and AFP (11/20) also covered the story.

Brad Evans


is now being used to improve athletic performance:

Researchers investigating whether Viagra may give athletes an unfair advantage.

In a front-page story, the New York Times (11/23, A1, Longman) reported that a study being conducted at Marywood University and financed by the World Anti-Doping Agency is investigating whether Viagra (sildenafil citrate) creates "an unfair competitive advantage in dilating an athlete's blood vessels and unduly increasing oxygen-carrying capacity." Earlier studies have found that the drug may enhance physical performance. A study "published in 2006 in The Journal of Applied Physiology" found "that some participants taking Viagra improved their performances by nearly 40 percent in 10-kilometer cycling time trials conducted at a simulated altitude of 12,700 feet -- a height far above general elite athletic competition." In addition, "a 2004 German study of climbers at 17,200 feet at a Mount Everest base camp, published in The Annals of Internal Medicine, found that Viagra relieved constriction of blood vessels in the lungs and increased maximum exercise capacity." from DIA

Brad Evans


loses 6 million GBP. Owner is looking long term and is not worried. Attendance is dropping, probably because of the fiscal crisis. The public company is Milwall Holdings.

Brad Evans


New stadium for Juventus. Their current stadium is not friendly for the fans. How long have they had this stadium I wonder?

Brad Evans

21 November 2008

Newcastle United

Mike Ashley shoots himself in the foot. His bad management has led to empty seats (which used to be rare) and now the selling price of the club will presumably decrease.

Brad Evans

Copernicus found

From Cronaca. Nicolaus Copernicus's skeleton is found.


Bernie Ecclestone in divorce proceedings

Slavica, his wife, has filed for divorce. He reportedly put billions of his money in his wife's name, presumably for tax reasons.

Brad Evans

20 November 2008


joined the FLi group.

Brad Evans


releases their annual report. Here it is.

Brad Evans

18 November 2008

Glasgow Rangers

sign with Ebel and CocaCola. The CocaCola deal is worth "six figures... for three years."

Brad Evans

12 November 2008

Banks no longer subject to Section 382 of Tax Code

Section 382 of the Tax Code was designed to prevent profitable companies from purchasing companies with losses and thereby avoiding tax. No matter how you feel about this, the Treasury usurped its authority in making banks free of section 382. The cost to taxpayers is estimated at $110-150 billion. Perhaps the Treasury should give back $150 Billion of the bailout funds.

Furthermore, Congress is mad, but also scared to reinstate Section 382 for banks, fearing they will be blamed for a Great Depression.

Brad Evans

11 November 2008

Aston Villa

The Villans will use the Micros Hospitality Management System.

Brad Evans


Shareliverpoolfc wants investors to help it purchase Liverpool FC. GBP 5000 per investor. It's a good football club, and the group looks like a good group. I don't know about the debt rung up by Hicks and Gillett. There's also the question of the new stadium to consider.

Brad Evans

Ligue 1

A little less than 50% of revenue comes from TV rights. Debt is low. Finances are good.

Brad Evans

Feyenoord and Anderlecht

These two clubs have lost Fortis shirt sponsorship related to Fortis's economic troubles.

Brad Evans

Newcastle United

Anschutz Entertainment Group set to take over Newcastle. AEG already has some football investments in Europe. I think good news for Newcastle and its fans. Good news for AEG too.

Brad Evans


Pini Zahavi set to take over Portsmouth. I'd say, bad news for Portsmouth and its fans.

Brad Evans

10 November 2008

I wondered about betting companies...

One, close to a deal with West Ham for shirt sponsorship, is accused of match fixing.

Brad Evans

Bristol City

Bristol City lost money. It's wage ratio is 97%!

Brad Evans

West Ham

Gudmundson may be forced to sell West Ham. This is because of the effect of the financial crisis on Iceland.

Brad Evans

Hurricane activity is down

Global warming will lead to increased hurricane activity, but hurricane activity is down.

08 November 2008

Obama again

The plan is to require community service, but the wording was changed from "require" to "set a goal."

It doesn't look like words mean a lot. He's a free trader, but he's not; he won't set economic policy now, but he will. I'm afraid we will have to watch what he does, not what he says.

Sowell talks about conflicting visions. He divides people into those who want protection from the government and those who want to use the government and laws to advance their agenda. Obama is in the 2nd group. He has Rahm Emmanual to push through his agenda. I don't think that the current fiscal crisis, or the projected fiscal crisis related to government pensions and health care, to Medicare, and Social Security, will deter his administration from trying to achieve their goals.

The Bush Administration damaged our freedoms. It looks like the Obama administration will be worse (if that's possible) for liberty and freedom.

Brad Evans

GM's cash burn rate

GM will run out of cash by the end of 2008. Whoever thought we'd be calculating a cash burn rate for GM?

Brad Evans


How will he do as President?

I am a little worried. He says that he is a "free-trader," then, in the next breath, explains that he is not really a free trader. He says that Bush will make executive branch economic decisions, then wants an economic stimulus package. He particularly wants more money to bailout the auto companies. I am afraid that the auto companies have large leaks and no amount of bailout will alter their outcome. They will sink.

Brad Evans

Convicted Felons and Politics...

UK takes Thaksin Shinawatra's Visa away. Meanwhile, Ted Stevens may be the first convicted felon elected to the Senate.

Brad Evans

07 November 2008

Chemicals in schools...

Not drugs. Well, maybe drugs AND chemicals used in shop and chemistry classes. Probably not as big a problem as suicide and drug abuse, but still a worry.

Brad Evans

Recall of dry pet food because of...

No, not melamine (which causes kidney stones), but Salmonella infections in humans.

Brad Evans

04 November 2008

Newcastle United and "Greater Fool Theory"

Two Americans want to buy Newcastle United from Mike Ashley, from The Political Economy of Football:


Two US-based investors are left in the race to buy Newcastle United off Mike Ashley. Both of them are believed to already be involved in the management of sports franchises. Seymour Pierce who are acting as advisers on the sale of the club have confirmed that the original field of seven potential bidders has been whittled down to two. It is believed that Mike Ashley has scaled down his expectations of what he can get from the sale following recent financial turmoil. Having invested £250m in the club, including paying off its debts, he now accepts that at best he could make only a small profit from the sale. It is understood that he would not necessarily take the highest offer available, but agree a sale to an investor with the better financial credentials. It is thought that any sale is likely to go through before the January transfer window in which any new owner would like to be involved.

The fact that the two main bidders are American is a development that has a significance beyond Newcastle United. I had thought that recent financial developments made it likely that we would see fewer American investors, also bearing in mind the difficulties have occurred in raising funds for stadium development at Liverpool. What I had perhaps underestimated was that the fall of the pound against dollar would make investment in sterling assets better value for those holding dollars. The one concern I have about American owners is that sport in the United States is organised on a rather different basis. 'Franchises' can be moved across the country and promotion and relegation does not form part of major American sporting competitions including soccer's MSL. However, although Liverpool offers an unhappy example of American ownership, and Manchester United a contested one, a Villa fan told me recently how pleased he was with Randy Lerner's stewardship at Villa. In his view, the combination of Lerner as owner and O'Neill as manager was a match made in heaven. Let's hope that passionate Geordie fans can get a similar result. "

Brad Evans

Fannie Mae execs golf on taxpayer money



Poland looks for another partner

Ukraine may be out, because of the financial crisis. Poland and Germany? Strange bedfellows.


Chelsea has financial problems?

Chelsea sacks 60% of international scouts. Frank Arnesen is still head of scouting and youth development.