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Monthly Archives: November 2009

Chinese the focus of intense debate Standard

We’ve got good news, bad news and worse news. The good news is that China has announced its target for emissions reductions. The bad news is that the 40% target is an “intensity-based” goal. The worse news is that the intensity-based approach is not a very good model at all and is a difficult model on which to build a market structure. For those who disagree, we only have to look at Canada, for an example of a government that reluctantly engaged in the carbon markets with intensity-based targets. In all actuality, it killed the budding carbon-market that was being…

Gold: Deliver Me This Standard

John Lothian

There is a problem in the gold market. The problem was outlined yesterday in a Wall Street Journal story about how HSBC was getting rid of retail clients and their small holdings of gold. Given the interest in the precious yellow metal, HSBC figures it can make more money dealing with bigger clients. The problem is actually not new, but it makes a good story. As a futures broker, I have and have had clients who want to take delivery of gold. Before gold took off on this rally, not too many brokers really wanted to deal with this kind of…

Five Minutes with John Prestbo Standard

John Prestbo

John Prestbo, editor and executive director of Dow Jones Indexes, spoke with JLN’s Jim Kharouf about his start in journalism with The Wall Street Journal, his experience with Dow Jones Indexes and his hobby, painting. Q: You’ve been around the markets for more than 30 years, what would say have been the biggest changes in the markets during that time? A: Electronic trading would have to be at the top of the list. Trading happens a lot faster and a lot cleaner than it used to. Commissions are a lot lower. That’s another way of saying that competition has increased…

US Policy Makers And Business Leaders Climb The Carbon Ladder Standard

By Jim Kharouf When world leaders gather at the UN climate change summit in Copenhagen this December to produce the next agreement on curbing global warming since the Kyoto Protocol, the US will still be edging closer to a mandatory cap and trade solution to reducing greenhouse gases. Cap-and-trade legislation is moving through Congress, but will not be completed by December, leaving a hole in the UN negotiations between the US and the world — particularly with China and India where curbs on global warming have, until only recently, been a sticking point. Nonetheless, the prospect of having a US…

Missing the mark Standard

Today’s stories illustrate two major disconnects between Congress and the Obama Administration and Congress and the rest of the world. While Obama and his team are pushing for new and significant agreement between the US and China, there is little doubt that it is all being undermined by the inaction in Congress. Boxer, Kerry and others threw in the 2009 towel now on climate change legislation and will take up the measure in Q1 2010. I can only imagine what the Chinese must be thinking as they nod in agreement that much needs to be done – and the US…

An Interview with Tony McCormick, CEO of BOX Standard

Tony McCormick took over as head of the Boston Options Exchange (BOX) in October as the exchange decided to revamp its model to focus on retail rather than institutional trade and to abandon the maker-taker model. He came to BOX with many years of experience in the options industry, having been vice president of equity options at Charles Schwab for 11 years as well as serving on the boards of the Chicago Mercantile Exchange, the Chicago Stock Exchange and the Chicago Board Options Exchange. He spoke with Sarah Rudolph about some of the issues facing BOX and the options business….

Response from Tom Griffo to The Atlantic magazine article “Did Christianity Cause the Crash?” Standard

John, I’m a bit surprised that you would give such prominence in your newsletter to The Atlantic magazine article “Did Christianity Cause the Crash?” Written by Hanna Rosin, the article is simply a misleading, agenda-driven and poorly reported piece of anti-Christian dreck. Maybe you were just looking to provoke a reaction. If so, you succeeded. It’s of course no secret that Christianity is increasingly under attack. (After all, the “holiday” season and “holiday” shopping are almost upon us, and before long we will be singing “holiday” songs around the “holiday” tree.) But to even suggest that Christianity has anything to…

Pickens Plan Phase I Standard

I’ve just returned from the CME Group’s Global Financial Leadership Conference in Naples, Fla., a top tier event in its second year which drew some some star power again. Among them was T. Boone Pickens, who addressed his Pickens Plan in a version I’d call Pickens Plan Phase I. Pickens touted the virtues of natural gas. That’s nothing new as natural gas, wind and solar have always been part of his plan. But he also mentioned House Bill 1835 and Senate Bill 1408, both of which are designed to encourage use of natural gas as a fuel for large trucks…