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	<title>Mashada Blogs &#187; Tags &#187; Rave</title>
	<subtitle>Mashada Blogs &#187; Tags &#187; Rave</subtitle>      
        <link rel="alternate" type="text/html" href="http://www.mashada.com/blogs/" />
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        <updated>2009-11-21T20:01:14-05:00</updated>
	<entry>
		<id>http://coldtusker.blogspot.com/2009/04/somali-pirates-killed-good-riddance.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Somali pirates killed - Good riddance!</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/04/somali-pirates-killed-good-riddance.html"/>		
		<updated>2009-04-12T15:44:00-04:00</updated>
		<published>2009-04-12T15:44:00-04:00</published>
		<content type="html"><![CDATA[	As I thought... the Americans would launch a Special Ops to rescue the American captain captured by the somali pirates...<br />Well... the GOOD NEWS... the SOFs (Special Ops Forces) killed 3 somali pirates &amp; captured 1 (why not kill him as well?) AND rescued Captain Richard Phillips.<br />Good riddance!<br /><br /><img src='https://blogger.googleusercontent.com/tracker/15803960-4417484896416545659?l=coldtusker.blogspot.com' alt='' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/03/african-banks-internationalisation.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: African Banks - Internationalisation</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/03/african-banks-internationalisation.html"/>		
		<updated>2009-03-11T08:43:00-04:00</updated>
		<published>2009-03-11T08:43:00-04:00</published>
		<content type="html"><![CDATA[	African banks are rather small (assets or capitalisation) compared to their international peers. <br />The only countries with banks of 'decent' size are either S.African (S.Africa proper), N.African (Egypt, Morocco) or W.African (Ecobank &amp; Nigerian banks).<br />But as we have seen... size does not matter. After all Bank of America &amp; Citibank are among the largest banks in the USA. And we have Lloyds &amp; HBOS in the UK. All are in trouble.<br />I expect the large 'international' US banks e.g. Citigroup &amp; BofA will shrink or sell their foreign operations over the next few years to raise cash to pay off debts.<br />West European 'international' banks are also feeling the hurt including Barclays &amp; UBS.  Many French, German &amp; Swiss banks are also hurting.<br />HSBC &amp; Standard Chartered may survive the current problems but in my view they are really Asian (Chinese &amp; Hong Kong) banks.<br />Now... I think that most African banks will weather the storm. And grow from strength to strength.Whereas all do not (&amp; cannot) have ambitions to become '' international" banks... I think a few will do so over the next 5 years. And become much stronger. Standard Bank of S. Africa (Stanbic) is moving into other markets by buying out small to mid-sized banks.<br />I remain a sceptic of Nigerian banks. They have tried to expand but I do NOT trust their balance sheets.<br />A major factor that will push internationalization of African banks is the return of diasporans with the relevant expertise.<br />All said and done... I do hope that African banks can reach all parts of Africa. And provide a product to all Africans - whatever their socio-economic status.<br />Mobile Payment Systems &amp; Mobile Funds Transfer systems have already penetrated huge swathes of the cash transfer market.<img alt="" src='https://blogger.googleusercontent.com/tracker/15803960-1214750167609724181?l=coldtusker.blogspot.com' /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/coldtusker-applies-for-greatest-job-in.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: ColdTusker applies for the Greatest Job in the World</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/coldtusker-applies-for-greatest-job-in.html"/>		
		<updated>2009-02-24T08:15:00-05:00</updated>
		<published>2009-02-24T08:15:00-05:00</published>
		<content type="html"><![CDATA[	<a href="http://wildaboutafrica.wordpress.com/2009/02/24/job-opening-the-greatest-job-in-kenya/" title="Permalink">Job opening - the Greatest Job in Kenya</a>                                  <p>Would you like to lead the beautiful country of Kenya, where your followers will all be tribal voters, your friends are sycophants, your team an army of highly effective corrupt and evil criminals (all trained at the school of Mwalimu Moi). You will preside over the collapse of an economy and oversee a transformation of a once proud people to a state of beggars. </p> <p>Kenya<br />We are a bankrupt country looking for a suitable candidate to rule the nation of some 39 million poor Africans. The ideal candidate should have no scruples, no guilt complexes, and a willingness to break the law (he or she will never be investigated). The candidate should be willing to protect corruption, impunity, illegal forces, and police brutality, willing to turn a blind eye to extrajudicial killings, famine, disease and extreme poverty. He or she should have a crazy spouse whose antics can be used as a diversion or smokescreen when necessary. He or she will accept and protect all wrong doers. He or she may need to devise crafty fund raising schemes to liquidate state assets for purposes of buying elections or lining ones own and friends or relatives, pockets. He or she is required to befriend and work with wanted criminals. He or she must be deaf, blind and mute in order to effectively ignore the rapid decline in state. He can use police force to quell any dissent from the population. He is not expected to know the people, indeed the less he knows the better. </p> <p>Presidency – the job of the president is to amass personal wealth and to protect criminal politicians, family and friends. This job will be starting January 2012.</p> <p>Job description –ignoring state policies and regulations in order to protect corrupt and criminal politicians and amass wealth. </p> <p>Performance standards: This is a challenging position and a successful president will be measured by his ability to rig successive elections. He will also exceed the crimes of the previous president past five years within his first term. </p> <p>Minimum Qualifications – a previous criminal record, ability to steal with impunity, ability to creatively protect corrupt friends. Excellent acting skills especially feigning sickness and ignorance. A network of the worlds most wanted criminals. Colourful wives and friends an advantage. Only blind, deaf mute candidates need apply, alcoholics or other drug dependency preferred. </p> <p>Special duties – attend state parties, cutting ribbons, drinking at golf competitions, extensive travel to Dubai, China and other shopping havens. </p> <p>Work schedule and station– one hour per year, timing flexible. </p> <p>Budget - none, the country is bankrupt</p> <p>Remuneration – the president can take whatever he desires for himself, family and friends, including cash and properties which can be grabbed as required </p> <p>Perks – astronomical allowances, access to any land or assets required, Great family benefits, contracts for children. You will never be investigated,</p> <p>Accountability – none.</p> <p>Contract terms renewable every 4 years (you can change this and declare presidency for life).</p> <p>Your team </p> <p>Prime Minister – Your closest asset. Responsible for for maintaining a state of fear, coordinating mass killings, rape and looting. In charge of overseeing a parallel corruption system, ensures protection of criminals, and undermining your government. Responsible for keeping quiet. </p> <p>Vice president – protects your back and helps orchestrate the illegal acquisition of funds for your next election. The Vice president is responsible for maintaining silence on national scandals.</p> <p>Cabinet Ministers – People you select for their contribution to your election kitty. Responsible for vomiting on the shoes of donors. These people will serve you faithfully in degazetting forests, stealing grain, stealing pensions etc etc.</p> <p>Official Spokesperson – Responsible for ensuring you don’t have to appear in person to respond to any uncomfortable scandals like raids on media houses, missing grain, Armenian brothers, police brutality, extrajudicial killings, or arms to Sudan. Responsible for carrying your cross.</p> <p>First Lady – Your court jester. Fashion oblivious, extreme temper, slap happy. Responsible for national entertainment and creating a diversion when journalists get too close to scandals. </p> <p>Other wives, mistresses and sycophants – Your silent loyal army from the mountains that does most of your work. Responsible for setting fashion standards, organizing deals, being proxies on fishy contracts, representing you incognito, and are the real center of power in the country. </p> <p>Members of parliament – a bunch of bickering elected folk who need to pay off their votes. Responsible for setting their own salaries and perks. </p> <p>Apply now to Applications@ThegreatestjobinKenya.con</p><p>Full credit to <a href="http://wildaboutafrica.wordpress.com/">http://wildaboutafrica.wordpress.com</a></p><img alt="" src='http://res1.blogblog.com/tracker/15803960-4194149626985132364?l=coldtusker.blogspot.com' /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/kenya-airways-oversold.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Kenya Airways - Oversold?</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/kenya-airways-oversold.html"/>		
		<updated>2009-02-24T01:59:00-05:00</updated>
		<published>2009-02-24T01:59:00-05:00</published>
		<content type="html"><![CDATA[	I was reviewing share prices vs reported book values &amp; my own 'projections' of profits. So what follows are my own views/opinions.<br /><br />I will discuss the prospects of various listed firms as businesses with a discussion of  the share prices as well. As many of you know I am a huge Warren Buffet fan so I hope I do him justice.<br /><br />Pick # 1 (BTW, WB does not believe in investing in airlines... I know, I know...)<br /><br />Kenya Airways (KQ) - Price on 24-02-2009 is 20/-<br /><br />KQ has faced a tough 3 years with the plane crash in May 2007 - this was at the peak for KQ - and then the hits started;<br />- elections in late 2007<br />- post-election violence in 2008<br />- record high oil/fuel prices<br />- global financial turmoil in late 2008 &amp; continuing<br /><br />So the question is whither KQ as a business?<br /><br />Let's do a SWOT Analysis (I will update it as I get comments)<br /><br />Strengths<br /><ol><li>KQ is among Africa's largest &amp; strongest airlines. Dominant in E &amp; C Africa.</li><li>Strong Balance Sheet (Sep 30 2008) shows Kes 10bn in cash/liquid assets. Approx 20/- per share.</li><li>National airline thus an advantage in getting airport slots in bilateral agreements.</li><li>Privatized for over a decade. GoK owns 23%. KLM 26%. Better management vs government controlled firms.</li><li>KQ can survive 2 years of losses while smaller airlines will collapse.</li><li>Majority of the revenue is in US$, GBP &amp; Euros.</li><li>Aircraft have high fixed costs but deployment is flexible.<br /></li></ol>Weakenesses<br /><ol><li>Single hub (JKIA) thus exposure to local politics - see effect on KQ during Nov 08-Mar 09 election period.</li><li>Inefficient hub (JKIA is controlled by the GoK) leading to inefficiencies.</li><li>Reliance on government controlled entities for Jet A1 fuel. KQ faces problems sourcing fuel in various countries including Kenya, Ghana, DRC, Zambia, etc.</li><li>Over-reliance on Europe for tourists. Credit crunch in Europe will hurt KQ.</li><li>Inflexible (high fixed-cost) aircraft. Only 3 Embraers (E-190). The rest are Boeing jets.</li><li>Higher cost airline with large(r), unionized &amp; inflexible contingent of staff.<br /></li></ol><br />Opportunities<br /><ol><li>Africa, especially Sub-Saharan Africa (SSA), has the lowest airline penetration.</li><li>Ineffecient government owned/controlled carriers (e.g. Air Tanzania, Air Zimbabwe, SAA) benefits KQ.</li><li>Increasing African trade with the Mid-East, Far East, China &amp; India will increase passenger &amp; cargo numbers.</li><li>Huge potential in tourism from the increasingly wealthier Chinese, Indians &amp; Middle Easterners.</li><li>KQ has become the 'local' or 'regional' airline for many SSA countries e.g. Lusaka-Lilongwe, Lagos-Abidjan-Monrovia, Accra-Freetown, etc.</li><li>Global Financial Crisis will enable 787 deliveries to be made sooner than expected.<br /></li></ol>Threats<br /><ol><li>Ethiopian Airlines has a stronger pan-African presence &amp; better global reach vs KQ. And it keeps growing.<br /></li><li>Airlines privatizing - or recently privatized - all over Africa including Air Tanzania, Air Uganda, Air Malawi, etc.</li><li>New &amp; expanding Low-Cost Airlines (Jetlink, Fly540)<br /></li><li>Low purchasing power in SSA means air travel is a luxury for 99% of the population thus limited growth in the next 5 years.</li><li>High &amp; volatile oil (fuel) prices.</li><li>Low barriers to entry. Anyone can buy a plane (see Fly540, Air Uganda). Both in Kenya &amp; in SSA.<br /></li></ol><br />Financial Discussion<br /><br /><ul><li>KQ has almost 20/- (per Sep 30 2008 balance sheet) in cash or near-cash. The 1H 2008-9 period was barely  profitable BUT most other airlines made losses.</li><li>Oil prices were at their peak in 1H 2008-9 but they have dropped by 65% though KQ entered into unfavourable hedges which will continue into 2009. KQ will see benefits of lower prices in 2009-10.</li><li>KQ has been aggressively expanding in 2008. KQ will continue expanding into Africa &amp; globally in 2009:<br /></li></ul><ol><li>Dhaka (Bangladesh)</li><li>Kisangani (DRC)</li><li>Libreville</li><li>Blantyre (Malawi)</li><li>Malabo (Equatorial Guinea)<br /></li></ol>The good news for KQ is that they can easily discontinue loss-making routes while open new routes rapidly provided they have agreements in place.<br /><br />So the business is OK. Sustainable. And growing 50% over the next 3-5 years.<br /><br />Earnings: KQ barely managed 1.59 for 1H 2008-9. I expect a better 2H thus at least 3.50 for FY 2008-9 which leads me to say BUY.<br /><br />PE = 6x which is great. Cash flow will be lower as KQ spends to expand.<br />PB = 0.5 (Kes depreciation has boosted value of aircraft/assets but note an offset for US$ loans/liabilities)<img alt="" src='http://res1.blogblog.com/tracker/15803960-4465991273059493019?l=coldtusker.blogspot.com' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/buy-kenyan-build-kenya.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Buy Kenyan, Build Kenya</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/buy-kenyan-build-kenya.html"/>		
		<updated>2009-02-23T04:22:00-05:00</updated>
		<published>2009-02-23T04:22:00-05:00</published>
		<content type="html"><![CDATA[	Kenyans need to make good choices. Now. To save themselves.<br /><br />Buy Kenyan<br /><br />It is as simple as that.<br /><br />Let me state from the outset. Kenyan manufacturers need to be price &amp; quality competitive. This is not a choice for them. They need to give Kenyans value.<br /><br />For those who cry 'protectionism', I am NOT advocating tariff barriers or quotas or subsidies. I do encourage additional (non-monetary i.e. subsidies) incentives for Kenyan firms like better roads/infrastructure, staff training, lower tax rates, etc.<br /><br />Your local Nakumatt (or Tusky or Uchumi or grocer) stocks too many foreign goods esp foods. Kenya is an agricultural country. We need to become a major agro-processor as well.<br /><br />Baked Beans (I like Baked Beans on Toast)<br /><br />Kenylon (Kabazi Canners of Kenya) manufactures baked beans but it seems Heinz (imported from the UK via Dubai) seems to has a larger display. There are other local brands BUT the imported brands dominate.<br /><br />So why does Kenya need to import baked beans?<br /><br />If Nakumatt sells 100,000 cans of Heinz beans (89/-) per month, that would 'save' Kenya $1,200,000 (Kes 100,000,000) annually. 'Save' above means reduce the need for forex to fund imports. I am assuming retail margins of 10%<br /><br />KShs 100 mn paid to Kabazi means a good portion goes to local farmers, factory workers, other local manufacturers &amp; transporters. And this gets recycled into the local economy as these 'beneficiaries' buy other local goods.<br /><br />Butter &amp; Cheese<br /><br />Why does Kenya import butter from New Zealand via Dubai?<br /><br />KCC, Brookside, Daima, etc has great milk products. We export to the middle east, so why do we import these? We used to import milk products from China. Why?<br /><br />Kenyan farmers will increase production IF we reduce imports thus boosting local demand.<br /><br />Snacks/Chocolates/Prepared Foods<br /><br />I am amazed that Kenya imports crisps, chocolates, biscuits, cereals, chevda (among other Indian snacks), etc<br /><br />Kenyans produce great products so why the need to import???<br /><br />Crisps - Krackles, Tropical Heat, etc<br />Chocolates - Cadburys, Out of Africa (though most ingredients are imported)<br />Biscuits - House of Manji (the best Digestives), Brittania<br />Cereals - Weetabix (local), Procter &amp; Allan, etc<br />Indian snacks - Tropical Heat, Deeps, etc<br /><br />Kenyan products in this category are generally cheaper than the imports yet we blow away forex &amp; the creation of local jobs.<br /><br />Why do Kenyans buy 'prepared foods' when we can hire or buy freshly prepared foods locally. As for convenience, there are local firms &amp; SMEs in the market.<br /><br />Juices/Squashes (fruit drink mixes)<br /><br />Why don't Kenyans buy more locally produced juice or juice blends or even fruit drink mixes.<br /><br />There are many local players in this market including:<br /><br />Del Monte (locally grown pineapples)<br />Kenylon<br />Quencher (mainly fruit drink mixes)<br /><br />And even when we import juices, why not just concentrates that can be re-constituted &amp; packed in Kenya.<br /><br />And why not drink FRESHLY SQUEEZED juices. Creates jobs for maids, hotel/restaurant workers, etc. Kenyan 'fruit juice' businesses need to lower prices for freshly squeezed juices. I miss the fresh fruit carts in Nairobi's CBD. I could get a juicy slice of pineapple for a mere 10/-.<br /><br />Spirits/Beer/Wines/Alcohol<br /><br />I know Kenyan spirts leave little to the imagination but there is hope. Let's by more EABL, Keroche &amp; London Distiller products.<br /><br />There are few local wines (Mara is imported from S.Africa). Locally produced wines should attract lower taxes. There are other fruit wines that can be produced from locally grown fruits including:<br /><br />- Passion fruits (I recall passiflora but too dry for my tastes)<br />- Oranges<br />- Mango (Has anyone tried?)<br />- Pineapples (I used to brew a weak version)<br />- Sugarcane (Rum)<br /><br />I buy the local Kenya Gold (instead of the imported Baileys) &amp; the local Smirnoff (vs imported vodkas).<br /><br />And the above is a small sample of the imports. We could 'save' at least $100,000,000 in forex annually if we looked inwards. Add the jobs Kenya could create &amp; the Global Financial Crisis would look less daunting.<img alt="" src='http://res1.blogblog.com/tracker/15803960-3450019970890078934?l=coldtusker.blogspot.com' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/family-firms-out-perform-public-firms.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Family firms out-perform 'public' firms</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/family-firms-out-perform-public-firms.html"/>		
		<updated>2009-02-20T16:33:00-05:00</updated>
		<published>2009-02-20T16:33:00-05:00</published>
		<content type="html"><![CDATA[	Very interesting article from the ECONOMIST.<br /><br />Also brings to mind Chandaria Industries (Comcraft Group) of Kenya. The 3rd generation is at work. And it remains private.<img alt="" src='http://res1.blogblog.com/tracker/15803960-8111750383206896710?l=coldtusker.blogspot.com' /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/rwanda-new-hope-of-africa-part-2.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Rwanda - The New Hope of Africa Part 2</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/rwanda-new-hope-of-africa-part-2.html"/>		
		<updated>2009-02-17T00:25:00-05:00</updated>
		<published>2009-02-17T00:25:00-05:00</published>
		<content type="html"><![CDATA[	Unlike Kenya, Rwanda (under Paul Kagame) is taking a serious <a href="http://www.theeastafrican.co.ke/news/-/2558/530152/-/rkc87wz/-/index.html">stand against corruption</a>.<br /><br />When I spoke to folks doing business in Rwanda, they say corruption tends to be low-level but structures are in place to deal with serious corruption.<br /><br />Paul Kagame wants to make Rwanda the Singapore of Africa. Paul is a 'benevolent dictator' on a similar plane as Lee Kuan Yew &amp; he is reportedly as clean as it gets.<br /><br />Paul - unlike most African rulers (thieves) gave up his ancestral land since he did not need it!!!<br />In Kenya, jomo kenyatta &amp; dan moi were unabashed kleptocrats!<img alt="" src='http://res1.blogblog.com/tracker/15803960-8054071078274667708?l=coldtusker.blogspot.com' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/i-want-me-barackberry.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: I want me a BarackBerry</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/i-want-me-barackberry.html"/>		
		<updated>2009-02-04T05:00:00-05:00</updated>
		<published>2009-02-04T05:00:00-05:00</published>
		<content type="html"><![CDATA[	It turns out that Obama does not use a BlackBerry but a <a href="http://www.economist.com/science/displayStory.cfm?story_id=13045261">BarackBerry</a>...<br /><br />The BlackBerry can't hold a candle to the Sectera Edge  - not your father's Palm Treo - that BHO uses!<br /><br />I wonder if one of the games on the Sectera is 'Nuke'em Iran?<br /><br />Anyway, I want one... am I asking too much?<br /><br />BTW, the <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=12698&amp;Itemid=5843">Business Daily Africa claims BHO uses a BlackBerry</a> but we know better!<img alt="" src='http://res1.blogblog.com/tracker/15803960-7670793212634565878?l=coldtusker.blogspot.com' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/02/is-south-africa-really-part-of-sub.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Is South Africa really part of Sub-Saharan Africa?</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/02/is-south-africa-really-part-of-sub.html"/>		
		<updated>2009-02-04T04:30:00-05:00</updated>
		<published>2009-02-04T04:30:00-05:00</published>
		<content type="html"><![CDATA[	<a href="http://www.sagoodnews.co.za/infrastructure/all_aboard_for_gautrain_s_first_ride.html">Gautrain</a> is a world-class train system being built in S.Africa. Amazing.<br /><br />In the meantime, the Kenyan government is hosting a 'Kenya We Want' conference. What bullshit. A little common sense would be much cheaper!<br /><br />My Solutions:<br /><br />kibaki should fire ALL his corrupt &amp; inept ministers (incl saitoti, kimunya, etc) &amp; a huge chunk of our problems would be solved.<br /><br />kibaki should reveal WHY the libyans (among other groups) are being favoured. And STOP the favouritism &amp; nepotism.<br /><br />Kenyans want to know if the libyans contributed funds towards kibaki's re-election campaign in exchange for sweetheart deals. No more sweetheart deals.<br /><br />If the GoK privatised KPC among other government institutions, then we would not need silly conferences.<br /><br />Raila should drop his opposition to PRIVATE investments. This is not the communist Soviet republic. We need COMPETITION.<br /><br />All MPs &amp; ministers should pay taxes on their entire salaries &amp; perks! And their pay should be linked to performance!<br /><br />Common sense is not so common. Or is the conference simply another way to siphon government funds &amp; provide PR?<img alt="" src='http://res1.blogblog.com/tracker/15803960-4038236647924596052?l=coldtusker.blogspot.com' /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/kq-has-very-profitable-3q-2008-9.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: KQ has very profitable 3Q 2008-9</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/kq-has-very-profitable-3q-2008-9.html"/>		
		<updated>2009-01-30T16:47:00-05:00</updated>
		<published>2009-01-30T16:47:00-05:00</published>
		<content type="html"><![CDATA[	KQ's 9-month 2008-9 PBT was +7% vs PY... BUT the real story is that...<br /><br />KQ made 2x in 3Q (Kes 3.035bn PBT) compared to entire 1H (Kes 1.05 PBT)...<br />Due to the post-election violence, KQ's pax numbers were very low in 1Q (Apr-Jun 2008). The 2Q (May-Sep 2008) was merely catch-up but the after-effects still lingered.<br /><br />Then came 3Q with (much) lower oil prices as well as the strong US$... but since KQ prices most tix in US$, the overall effect has been a surge in Kes profits...<br /><br />KQ faces challenges in 4Q coz of the GFC but the most profitable business remains the African business... they should continue expanding in Africa even if it the destinations make losses at first... KQ should start agrressively targetting S. African markets &amp; beat up SAA while they are down!<br /><br />Oil prices should be lower than 2008 though we have seen jet fuel shortages in Kenya coz of the thieves at KPC.<br /><br />BOTTOMLINE: I expect EPS of 7.50 for 2008-9. By my estimates the NAV is over 62/- So its trading at P/B of 0.4 and forward PER of 3.5... this is a steal!<br /><br />And there is the Obama business... perhaps  time expedite the expansion of the Kisumu airport... Obama is a-coming at some point!<br /><br />Prior posts on KQ or related subjects...<br /><br /><a href="http://coldtusker.blogspot.com/2008/10/kq-has-profitable-1h-2008-9.html">[coldtusker.blogspot.com]</a><br /><a href="http://coldtusker.blogspot.com/2008/11/jkia-is-dump.html">[coldtusker.blogspot.com]</a><br /><a href="http://coldtusker.blogspot.com/2008/11/how-kenyan-government-sabotages-success.html">[coldtusker.blogspot.com]</a><img alt="" src='http://res1.blogblog.com/tracker/15803960-8109812794934575907?l=coldtusker.blogspot.com' /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/rwanda-new-hope-of-africa.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Rwanda - The New Hope of Africa</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/rwanda-new-hope-of-africa.html"/>		
		<updated>2009-01-24T02:34:00-05:00</updated>
		<published>2009-01-24T02:34:00-05:00</published>
		<content type="html"><![CDATA[	Rwanda has introduced <a href="http://www.busiweek.com/index.php?option=com_content&amp;task=view&amp;id=867&amp;Itemid=2">ELECTRONIC DRIVING PERMITS</a>.<br />Ok, I think they meant driving permits with an electronic chip... anyway, Kenya has these UGLY red easily forged paper/cloth driving licenses...<br />Paul Kagame &amp; Ian Khama (Botswana) are the type of leaders we want. They are young, educated, smart &amp; clean... not corrupt.<br />BTW, I request we look into Paul Kagame's roots coz I think he is also a son of Kenya... therefore, eligible to run for presidential office in 2012 or sooner if you know what happens to you know who...<br /><br /><br /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/congrats-to-obama-what-africa-can-learn.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Congrats to Obama &amp; what Africa can learn...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/congrats-to-obama-what-africa-can-learn.html"/>		
		<updated>2009-01-20T04:59:00-05:00</updated>
		<published>2009-01-20T04:59:00-05:00</published>
		<content type="html"><![CDATA[	So... a president (&amp; party) comes into power but what a difference from what we see in most of Africa...<br />A peaceful election period... peaceful election day... a clear-cut victory i.e. negligible fraud... a phone call conceding the election... a peaceful &amp; organised transition... the retiring president retires gracefully...<br />In Kenya, violence during &amp; after the election...<br />In Guinea, a coup after the prez dies...<br />In Uganda, museveni wants more terms as president...<br />I do hope that Obama nixes any funny moves by African despots... Obama has the moral advantage if he criticises these despots!<br />So who are these despots?<br />- kibaki coming up in 2012- museveni coming up in 2011- swazi king who needs to be deposed (&amp; castrated)- bongo of gabon- many others<br />An inauguration that attracts not only the democrats but the old, young, all races, etc...<br />In Kenya, there was a hurried inauguration after a disputed election count... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/coldtusker-is-twittering.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Coldtusker is Twittering</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/coldtusker-is-twittering.html"/>		
		<updated>2009-01-08T01:20:00-05:00</updated>
		<published>2009-01-08T01:20:00-05:00</published>
		<content type="html"><![CDATA[	Just a fad or another tool? Or am I just a Twit... thanks to Ryan Shen-Hoover of <a href="http://investinginafrica.net/">Investing In Africa</a>.<br /><br />Anyway you can fine me twittering on www.twitter.com/coldtusker ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/novelty-in-airline-industry-airtime-for.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Novelty in the airline industry - airtime for flights!</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/novelty-in-airline-industry-airtime-for.html"/>		
		<updated>2009-01-07T14:29:00-05:00</updated>
		<published>2009-01-07T14:29:00-05:00</published>
		<content type="html"><![CDATA[	Will it survive (<a href="http://blog.wired.com/cars/2009/01/new-airline-pla.html?npu=1&amp;mbid=yhp">buy airtime &amp; redeem for flights!</a>) but leave the private sector to think of ideas... smart or dumb... who is to say?<br /><a href="http://www.flyairtime.co.za/">www.flyairtime.co.za</a><br />Government bureaucrats would never allow for real progress! Simply no imagination! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2009/01/frances-first-ladies.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: France's First Ladies...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2009/01/frances-first-ladies.html"/>		
		<updated>2009-01-01T04:57:00-05:00</updated>
		<published>2009-01-01T04:57:00-05:00</published>
		<content type="html"><![CDATA[	<a href="http://3.bp.blogspot.com/_zhDahHVs_Ds/SVyjb_OhBHI/AAAAAAAAACo/mGANf1I37Cs/s1600-h/edcce54df7a8239a33c38cfdfdb0f381.jpg"><img src="http://3.bp.blogspot.com/_zhDahHVs_Ds/SVyjb_OhBHI/AAAAAAAAACo/mGANf1I37Cs/s320/edcce54df7a8239a33c38cfdfdb0f381.jpg" alt="" /></a><br /><a href="http://2.bp.blogspot.com/_zhDahHVs_Ds/SVyiNxWorhI/AAAAAAAAACg/3zELinzbo9k/s1600-h/RachidaBruniGREX_468x546.jpg"><img src="http://2.bp.blogspot.com/_zhDahHVs_Ds/SVyiNxWorhI/AAAAAAAAACg/3zELinzbo9k/s320/RachidaBruniGREX_468x546.jpg" alt="" /></a><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Just to brighten my (erm, your) 2009... <br />Top - Rama Yade is France's Minister for Human Rights.<br />Left - <a href="http://en.wikipedia.org/wiki/Rachida_Dati">Rachida Dati</a> is France's Minister for Justice.<br />Right - Carla Bruni is France's First Lady.<br />Sarkozy sure knows how to choose them!<br /><br /><br /><br />(Kenya's equivalents would be... (a) Human Rights... hakunaaa... (b) martha karua (c) lucy kibaki)<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/12/mauritius-rare-bird-in-african-union.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Mauritius - A rare bird in the African Union</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/12/mauritius-rare-bird-in-african-union.html"/>		
		<updated>2008-12-29T08:36:00-05:00</updated>
		<published>2008-12-29T08:36:00-05:00</published>
		<content type="html"><![CDATA[	Mauritius is a small island with almost 'zero' natural resources except its beaches &amp; human resources BUT the progressive government(s) have done relatively well compared to its peers.<br />Here is an example of how the Mauritian government while recognizing the Global Financial Turmoil is much bigger than they can handle... they are trying to take <a href="http://africa.reuters.com/business/news/usnJOE4BJ06W.html">PREEMPTIVE measures</a> to mitigate the fallout as much as possible! Not burying their heads in the sand!<br />Sithanen (the Finance Minister) said the forecast for economic growth in 2008 had been cut again to 5.1 percent from 5.4 percent, and warned that while the economy was a long way off entering into recession, the island was not immune from the global slowdown.<br /><br />In Kenya the CBK governor told Kenyans 'all is normal' and to expect 7% growth in 2008... and this is a crock of shit considering (1) post-election violence destroyed swathes of crops (2) the GFT &amp; (3) soaring inflation.<br />There are 2 other countries I consider 'models' in Africa... Botswana &amp; Rwanda. Both have challenges but they practice fiscal management. Botswana is a net creditor nation &amp; Rwanda's Kagame has shown leadership in a country that was decimated in 1994. ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/10/kq-has-profitable-1h-2008-9.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: KQ has profitable 1H 2008-9</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/10/kq-has-profitable-1h-2008-9.html"/>		
		<updated>2008-10-30T01:35:00-04:00</updated>
		<published>2008-10-30T01:35:00-04:00</published>
		<content type="html"><![CDATA[	It has been a tough year for KQ since their busiest &amp; most profitable quarter (1 April - 30 Jun) was severely affected by the post-election clashes as tourists &amp; businessfolk canceled their flights to/from Kenya.<br /><br />Hats off that KQ managed to pull together a profitable (though subdued) 1H 2008-9. The prospects for 2H seem encouraging with a weaker KES (90% revenues are in forex) &amp; lower fuel prices. Unfortunately for KQ, the fuel hedges they entered into will reduce the benefits of lower fuel prices.<br /><br />2008 has seen the demise of many airlines though mostly in USA which is a very competitive market. KQ on the other hand saw increased competition in 2008 from Fly540, Virgin &amp; Air Uganda.<br /><br />*** There was a major glitch at the NSE. Trading was supposed to start at 12.30pm ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/10/nse-going-to-dogs.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: NSE going to the dogs?</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/10/nse-going-to-dogs.html"/>		
		<updated>2008-10-29T03:27:00-04:00</updated>
		<published>2008-10-29T03:27:00-04:00</published>
		<content type="html"><![CDATA[	Wow... what carnage!<br /><br />(All said and done I think many shares are a steal if you have a backbone of steel)<br /><br />KCB at 16.85 which is a 2x PB and less than 8 PER.<br /><br />Equity Bank has not seen 114/- for almost 2 years. The price is even LOWER than it was at the height of the violence in 1Q 2008.<br /><br />Warren Buffett would have a blast in the market &amp; buy up a lot of stuff. I think it might sense for some firms to go private at this point!!!<br /><br />There is little LBO cash but the possibility of buying out minorities... and then taking the firm private is so tempting. Hey, Unilever Tea (Brooke Bond) did just that!<br /><br />Look at KQ (29/-) which is trading at a substantial discount to NAV. If they were allowed to buy-back shares, they had KES 12,000,000,000 in cash (2Q 2008 - 31 March 2008), and could buy back 200,000,000 shares at 30/- (KES 6,000,000,000). Suddenly, you have eliminated 40% of the shares thus allowing the remaining shareholders to earn substantially more on their investments!<br /><br />KCB is at 16.85 &amp; can generate over 13% on the shares based on current earnings. A buy-back would allow an increase in ROE without the need to take on additional risk. Just raise Tier 2 capital when the capital markets improve.<br /><br />And the list goes on. Finally, ABSA could make a bid for Barclays Kenya. It was too pricey earlier but at 43/-, the price is rather attractive.<br /><br />If I were Vodafone, I would buy 11% of the shares that gives me effective control of Safaricom so I can consolidate their results. And I can buy them at a rock-bottom price of Kes 3.50!<br /><br />Equity Bank is in a position to make a takeover bid for HFCK. Offer 20/- &amp; the minority shareholders of HFCK will make a beeline to sell the shares!<br /><br />Safaricom should make a all-cash (20/-) bid for Access Kenya &amp; in one swoop could own Kenya's largest ISP for corporates as well as the most extensive wi-max network in Kenya. I expect almost everyone except the Somens might be running to sell their shares! Heck, maybe even the Somens!<br /><br />The cash rich firms e.g. KQ, Safaricom, Equity Bank can do wonders if they deployed the cash they have!<br /><br />EABL is also cash rich but who would they buy that is complementary to their existing business?<br /><br />CFC-Stanbic should look at buying out NIC Bank. Or perhaps even NBK now that NBK bad debts are manageable.<br /><br />How about Equity Bank swooping in for HFCK as mentioned above. Or KCB buying out HFCK in its entirety &amp; roll-up S&amp;L into it?<br /><br />I do not know if Centum is cash-rich after the recent happenings... but it could buy out 1 or 2 listed firms... if they have the cash!<br /><br />Of course, we have Williamson Tea &amp; Kapchorua... why do they list as different firms? A combination would be ideal at this stage! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/10/beth-brainless-mugo-vs-nema.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: beth 'brainless' mugo vs NEMA</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/10/beth-brainless-mugo-vs-nema.html"/>		
		<updated>2008-10-23T20:52:00-04:00</updated>
		<published>2008-10-23T20:52:00-04:00</published>
		<content type="html"><![CDATA[	Well... after beth mugo (supposedly the minister for public health &amp; sanitation)... but who acts like a total moron... <a href="http://wanjiku-unlimited.blogspot.com/2008/08/dagotetti-houses-of-filth.html">fought with NEMA</a> when they shut down a filthy abbatoir should go look at the the abbatoir AFTER they were forced to do the <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=10824&amp;Itemid=5822">right thing</a>...<br /><br />Even then I think it's better to be a vegetarian...<br /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/10/africa-new-frontier-part-1.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Africa - The New Frontier (Part 1)</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/10/africa-new-frontier-part-1.html"/>		
		<updated>2008-10-14T17:01:00-04:00</updated>
		<published>2008-10-14T17:01:00-04:00</published>
		<content type="html"><![CDATA[	Yes... Africa gets a bad rep... and often well deserved but there are interesting &amp; positive developments on the continent...<br /><br /><a href="http://www.theeastafrican.co.ke/news/-/2558/479510/-/s1rggmz/-/index.html">Piracy</a><br />Not a good sign but at least it has united the Russians, Ukrainians and Americans... who all want to make sure the pirates don't win out. My solution is simple... BOMB the somalis back to the middle ages... no, even further back... make the coast of somalia a no-sailing zone for anyone who is somali (or even looks like a somali)...<br /><a href="http://www.theeastafrican.co.ke/news/-/2558/479536/-/s1rgeoz/-/index.html"><br />Uganda</a><br />Uganda is making efforts to ensure the oil wealth is not wasted or skimmed off like the nigerians do... I do not expect it to be perfect after all theft in Africa seems ingrained among most politicians... but at least they could do much better than the nigerians.<br /><br /><a href="http://www.theeastafrican.co.ke/business/-/2560/477404/-/6jd8mqz/-/index.html">Uganda's other mineral resources are attracting attention</a> again. I hope they manage them well.<br /><br />Of course... Uganda is also becoming the transit point for goods to Sudan, Congo and Rwanda...<br /><br />And Uganda has 4 telecom players while Kenya has only 3. What's more... Uganda is set to have 2 more... HITS and <a href="http://www.theeastafrican.co.ke/business/-/2560/479574/-/item/1/-/omh72o/-/index.html">I-Tel</a>.<br /><br />The same goes for Ghana who have an election this year... who have oil as well as being a transit point was many W.African countries.<br /><br /><a href="http://www.theeastafrican.co.ke/news/-/2558/479516/-/s1rgggz/-/index.html">Rwanda &amp; Congo</a><br />Rwanda and Congo have a love-hate affair that started when the then Zairean government supported the Hutus against the Tutsis. As is eastern Congo has a strong Tutsi influence. Paul Kagame (prez of Rwanda &amp; a Tutsi) and Laurent Nkunda (a Tutsi general who heads the 'rebels' in eastern Congo) have a dream of 'greater Rwanda' that is Tutsi dominated. After the Hutus massacred over 1 million Tutsis... one can't blame the Tutsis in securing the borders.<br /><br />That said... there is huge potential in Congo and Rwanda will become a powerhouse if it annexes eastern Congo. Furthermore, the discipline that Kagame exhibits will make Rwanda the pride of Africa. If only they had a seaport... like Singapore.<br /><br />BTW, <a href="http://www.theeastafrican.co.ke/business/-/2560/477400/-/item/1/-/149u912z/-/index.html">Zain is looking at setting up shop in Rwanda</a>. I definitely support the move. And it seems that Zain will put in decent infrastructure as Rwanda wants to become an ICT hub.<br /><br />Ecobank Rights &amp; New Issue<br />Ecobank got hit by the financial turmoil &amp; had to <a href="http://www.theeastafrican.co.ke/business/-/2560/479562/-/item/2/-/ff8q82z/-/index.html">extend the Offer to 31 Oct 2008</a>. I hope they can collect the cash they need but poor luck with the timing. I think they should have dual-listed in Kenya as well since they bought 75% of EABS. As is they are listed on the Nigerian Stock Exchange, Ghana Stock Exchange &amp; BVRM.<br /><br />gaddafi<br />Of course... what would Africa without the crazies? So gaddafi wants to be the <a href="http://www.theeastafrican.co.ke/news/-/2558/479514/-/item/3/-/446vp4/-/index.html">king of kings</a>? ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/10/zain-knock-out-safcon.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Zain knock out SafCon</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/10/zain-knock-out-safcon.html"/>		
		<updated>2008-10-06T03:09:00-04:00</updated>
		<published>2008-10-06T03:09:00-04:00</published>
		<content type="html"><![CDATA[	I have never liked how SafCon would rip us off with horrendous calling charges... so I tried to support KenCell-Celtel-Zain when I could.<br /><br />I was a classic double/triple SIMmer... I had 3 phones:<br /><br />- SafCon for SafCon to SafCon (it has the largest subscriber users)<br />- Zain to Zain (occasional use)<br />- Telkom to Telkom (they had corporate reach for intra-company calls)<br /><br />Now... I am 95% on Zain. I will even return missed calls when I sign up for the "Unlimited Package" between 6am to 6pm. Yes... $1/day buys me 12 hours of unlimited talk time... granted... I start using it at 8am at the earliest &amp; only on Zain... but I can talk &amp; talk &amp; talk...<br /><br />I was on PAMOJA but since I have to call some (non-progressive) folks on SafCon, I changed (vukad) to VUKA. I miss the 3/- Pamoja but its only 20/- to change tariffs on Zain on weekends.<br /><br />If only Zain had introduced VUKA before the SafCon IPO... I betcha the over-subscription would have been much lower.<br /><br />Zain has unlimited - albeit slow - internet access at 3,000/- per month. I currently use SafCon coz of (1) speed &amp; (2) pre-paid but if Zain were to give me 3G... I would vuka that over as well.<br /><br />When Zain introduces their 1,000/- phone... I expect many more subscribers to migrate to Zain.<br /><br />There are some hardcore Suffericomers there... but I laugh at them when I can call them at rates 66% lower than they can call me... as is... I hardly call SafCon anyway! My new habit when I have to call anyone on safaricon or orange is... do you have a Zain number????<br /><br />So... safcon shares may not be as cheap as they seem at KES 4.80...<br /><br />I have not been paid by Zain... but if Rene Meze is reading this... I am responsible for at least 25 migrations over to Zain... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/08/entrepreurship-summarised.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Entrepreneurship - Summarised</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/08/entrepreurship-summarised.html"/>		
		<updated>2008-08-31T04:05:00-04:00</updated>
		<published>2008-08-31T04:05:00-04:00</published>
		<content type="html"><![CDATA[	<br />Credit to Maishinski. Check the link above for the original source...<br /><br />Our guys back home have mob talent - but they simply don't know how to make money from it! So they get frustrated and throw stones at the police (blame government) or each other (blame other communities)... :-)<br /><br />Many of us in Diaspora have experienced intense global competition - and as a result, we have gained useful knowledge that we can share with our fellow Kenyans to help make them successful as entrepreneurs or employees.<br /><br />We have our part to play in Vision 2030, and we may even realize its objectives in 2020 if we can get as many Kenyans as possible to be successful and self sufficient.<br /><br />Lesson 1: Know your talent &amp; develop it. Have some general knowledge about your area of specialization - but be EXTREMELY good at one thing (e.g. Database Tuning / Financial Analysis / Applications Programming etc). Dont try to be an expert in everything - just the one thing you enjoy the most.<br /><br />Lesson 2: Believe that you control your own destiny. Don't expect handouts from governments, politicians etc. Be a go-getter. Get one good suit; get appointments with potential business contacts; discuss our product/service with them and land some deals.<br /><br />Lesson 3: Market yourself. Whats your unique selling proposition? Why should someone pay you for your talent? The answer to that is the value of your talent. Dont do what "river-road businesses" do (i.e. At XYZ enterprises river-road, we specialize in everything, cleaning, building, painting, computers, typing, ironing, babysitting etc) - no one believes them!<br /><br />Lesson 4: Know some basic business:<br />-ACCOUNTING; Break even points, cash flow statements, balance sheets, P&amp;L.<br />-LAW; contracts, sale of goods, forms of businesses, licensing;<br />- MANAGEMENT strategy making (five forces/value chain etc); HR issues etc<br />- SELLING, ADVERTISING and MARKETING - and the difference between the three!<br />- ENTREPRENEURSHIP - how to start and run your own business..<br /><br />Lesson 5: Read. Read. Read. Read. You dont have to go to college to learn accounts, management, entrepreneurship, etc. Cultivate a reading habit.<br /><br />Lesson 6: Stay curent. Go online once a week and visit Bloomberg, FT, Investopedia, Bdafrica. Approx 20 mins - 20bob. Reasonable cost/week to stay on top.<br /><br />Lesson 7: Be CONSTANTLY on the lookout for new ideas or opportunities that can be turned into money makers. For example if in the budget they talk about ICT villages in upcountry - see whether that's something you can do. If the minister announces that Matatus will be parked outside CBD - consider a coffee shop near the station. If CBD is to be a pedestrian city in future, think of possible tourism opportunities and start working on proposals... if Fibre optic is coming, think of online sales, remote software contracts, shareware, value added services, IT consulting, BPO etc etc.<br /><br />Lesson 8: Protect your intellectual property. Never give out source code for free. Never publish your invention/discovery without getting a patent first. Share your business - not your IP. IP is too valuable!!!!<br /><br />Lesson 9: Don't give up. Read about successful business people. They all have failed in their initial effort. The only thing is they failed smartly - and learned from their failures. Failing smartly is about planning for eventuality of failure so you can minimize its financial impact! Always test your business idea at a small scale first. If it's an area you don't know about, volunteer to work for a future competitor for low salary so you can learn the nuances of the business and survival tricks before you start your own...<br /><br />Lesson 10: Watch the Apprentice Season 1 (Donald Trump): You will learn that its easy to get rich legitimately. If you really want something you will get it. The episode where the guys made $1,000 selling lemonade really stumped me! The simplest of businesses brought in Ksh 67,000/= in ONE DAY!!! Why? Because the candidates put their ALL; they put their best efforts to win. No handouts from IMF, CDF or YDF - just plain simple brains and hard work.<br /><br />xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/08/ecobank-rightsoffering-opens.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: EcoBank Rights+Offering opens...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/08/ecobank-rightsoffering-opens.html"/>		
		<updated>2008-08-29T17:31:00-04:00</updated>
		<published>2008-08-29T17:31:00-04:00</published>
		<content type="html"><![CDATA[	We thought Safaricom was big... Ecobank's Rights+New Share Offering is 3x Safaricom...<br />KCB raised Kes 5 billion to fund its Kenyan &amp; regional expansion... while Ecobank is raising almost Kes 175 billion to fund its African expansion... and it is doing so on 3 stock exchanges... Nigeria, Ghana and Ivory Coast.<br />BTW... Ryan Shen-Hoover of <a href="http://investinginafrica.net/">Investing In Africa</a> was quoted... I have blogged on his excellent newsletter. I understand he is working on a local (Kenyan) method of payment for Kenyan subscribers... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/07/orengo-vs-kimunya-dont-threaten-but-sue.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Orengo vs Kimunya. Don't threaten but sue!</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/07/orengo-vs-kimunya-dont-threaten-but-sue.html"/>		
		<updated>2008-07-07T19:40:00-04:00</updated>
		<published>2008-07-07T19:40:00-04:00</published>
		<content type="html"><![CDATA[	Kimunya claims Orengo asked for a bribe (KES 3 million) from Adan+Wetangula Advocates. Furthemore, kimunya claimed that Orengo 'revealed' the GRH scam only after Orengo was told by A=W that there was nothing for him!<br /><br />Orengo denies he asked for a bribe from A+W while A+W also denies the incident. So Orengo said he will sue kimunya. Well, Orengo should not threaten kimunya but actually sue him. Pronto. We want to hear the truth. The only concern is whether the AG will take over the case &amp; enter into a <a href="http://en.wikipedia.org/wiki/Nolle_prosequi">Nolle Prosequi</a> order.<br /><br />On the other hand the AG seems to be on the 'other' side for once. Nevertheless, the Solicitor-general is thought to be a PNU/kimunya supporter. Of course, the AG is  brilliant at figuring out in which direction the wind blows!<br /><br />I do not think kimunya benefited directly from the GRH deal but he needs to reveal all instead of being the fall guy. Who is he protecting (rhetorical question)?<br /><br />When will Kenyans get to doing some real work instead of politics?<br /><br />And look at what our neighbours are doing in the name of '<a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=66&amp;newsid=126837">good governance</a>'.<br /><br />----------------<br />Listening to: <a href="http://www.foxytunes.com/artist/matthew+good/track/born+losers" title="'Matthew Good - Born Losers' - open on FoxyTunes Planet">Matthew Good - Born Losers</a><br />via <a href="http://www.foxytunes.com/signatunes/" title="FoxyTunes - Web of music at your fingertips">FoxyTunes</a> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/07/open-letter-to-all-listed-firms-on-nse.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Open Letter to all listed firms on the NSE - Grand regency Hotel</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/07/open-letter-to-all-listed-firms-on-nse.html"/>		
		<updated>2008-07-01T16:11:00-04:00</updated>
		<published>2008-07-01T16:11:00-04:00</published>
		<content type="html"><![CDATA[	Dear Chairman/CEO/CFO,<br /><br />I would like to request the Board not to hold any meetings, functions, AGMs, EGMs or provide any patronage to the Grand Regency Hotel as long as the sale does not meet prudent &amp; transparent guidelines expected in the disposal of public assets.<br /><br />The GRH relies on patronage from businesses as its core client base. The denial of the business is a silent protest in the vein of Gandhian philosophy as practiced successfully by Dr. Martin Luther King &amp; Nelson Mandela. I hope this drive the message home to the corrupt whether they be Sellers or Buyers.<br /><br />It is my hope that the Private Sector takes the lead in protesting unfair policies that the political establishment pursues.<br /><br />Thank you,<br /><br />Coldtusker ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/05/africa-wall-street-journal.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Africa &amp; the Wall Street Journal</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/05/africa-wall-street-journal.html"/>		
		<updated>2008-05-02T07:57:00-04:00</updated>
		<published>2008-05-02T07:57:00-04:00</published>
		<content type="html"><![CDATA[	The WSJ is taking a belated look at African stockmarkets.<br /><br />Ryan Shen-Hoover (<a href="http://www.investinginafrica.net/default.aspx">www.investinginafrica.net</a>) has a paid - worth every penny - newsletter focused on listed firms on Sub-Saharan African stockmarkets. I have a subscription &amp; have picked up a gem or two. If you contact him and say the magic words "I am an African investor and I read coldtusker's blog" he (might) give you a discount. No, he is not paying me but please sign up in droves so I can angle for a 'free' renewal. Please mention COLDTUSKER.  You will need a Visa/Mastercard and its billed in US$. No, I will not lend you mine.<br /><br />Subscribers also get access to hard-to-get financial reports for many listed African firms.<br /><br />Anyway, here is the link to the <a href="http://blogs.wsj.com/marketbeat/2008/05/01/looking-into-africa/?mod=WSJBlog">WSJ blog</a>.<br /><br />Another firm highlighted in the blog - apart from Investing In Africa - is <a href="http://www.africanshareholder.com/">www.africanshareholder.com</a> which has great info on African firms. Free. I would pay for it. Just don't tell them! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/kenya-needs-to-emulate-indias-dynamism.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Kenya needs to emulate India's dynamism...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/kenya-needs-to-emulate-indias-dynamism.html"/>		
		<updated>2008-04-29T22:38:00-04:00</updated>
		<published>2008-04-29T22:38:00-04:00</published>
		<content type="html"><![CDATA[	I have said many times on my blog that Kenya needs to look to India for (positive) ideas &amp; solutions on growth... Of course, we need to adapt these for Kenyan needs... and cut the corruption out!<br /><br />Well Laila Macharia agrees... in her <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7287&amp;Itemid=5848">Business Daily article linked here</a>... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/banks-on-roll.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Banks on a roll...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/banks-on-roll.html"/>		
		<updated>2008-04-24T18:29:00-04:00</updated>
		<published>2008-04-24T18:29:00-04:00</published>
		<content type="html"><![CDATA[	Equity Bank is in the process of acquiring Uganda Microfinance Ltd. The smart folks at Equity are doing an all-share deal that will leave their 'extra' capital ready for more investments.<br /><br />KCB is expanding in Uganda, S. Sudan, Rwanda &amp; Tanzaia. It will go for a Rights Issue to raise KShs 5bn. It has an <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7207&amp;Itemid=5812">excellent 1Q 2008 (when the troubles affected large swathes of Kenya) with a record KShs 1.7bn (pre-tax) profits</a>.<br /><br />Co-op Bank wants to go public. <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7219&amp;Itemid=5812">They plan to raise KShs 5bn as well</a>. I think they should go for KShs 10bn &amp; will find takers for the shares since the Safaricom refunds will be itching for an avenue for re-investment. Of course, the other banks will be happy to lend additional funds for the IPO.<br /><br /><a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7218&amp;Itemid=5822">Central Bank of Kenya K may be forced to sell the Grand Regency to the highest bidder</a>. It is not all in the bag but I would like to see a transparent auction.<br />I think the auction should allow the winner to put down 20% and pay the balance within 1 year. This will mean more bidders &amp; a higher price. The 'pay later' will allow bidders to pay more since they can look for additional financing after the bidding process is over. If they default, CBK keeps the 20%.<br /><br /><a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7205&amp;Itemid=5822">EABL goes green by building a local plant for canned beer</a>. The cans are made of aluminum &amp; can be recyled. The savings are in transportation since bottles are 'heavy' compared to cans. I hope more jobs are also created by bringing the manufacturing home.<br /><br /><a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7210&amp;Itemid=5813">New varieties of rice will boost production in Africa</a> leading to better food security. Why should we 'import' rice, maize &amp; wheat? In addition, self-sufficiency means fewer means for government employees to skim Kenyans (e.g. sugar and maize import scandals). <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7212&amp;Itemid=5813">Let the farmers earn a decent living!<br /></a><br />We need to force the State (GOK) <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7200&amp;Itemid=5854">to give up ownership of assets such as KAA, KPA &amp; KPC</a>. Of course, what I want to see are CLEAN deals meaning no favoritism to entrenched interests.<br /><br />NEMA after the Nakuru debacle is showing a <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=7216&amp;Itemid=5810">greater interest in our environment</a> but I have a gut feeling that corruption runs rampant there. Maybe I am being a little too skeptical?<br /><br />There is light at the end of the tunnel! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/suicide-jumper.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Suicide Jumper</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/suicide-jumper.html"/>		
		<updated>2008-04-20T02:15:00-04:00</updated>
		<published>2008-04-20T02:15:00-04:00</published>
		<content type="html"><![CDATA[	<a href="http://www.foxytunes.com/artist/alifarka+toure/track/soya" title="'Alifarka Toure - Soya' - open on FoxyTunes Planet"></a>Not for the squeamish... but here is a picture of a <a href="http://www.flowgo.com/funny/718_the-suicide-jumper-graphic-photo.html?">suicide jumper</a>.<br /><br />----------------<br />Listening to: <a href="http://www.foxytunes.com/artist/tristan+prettyman/track/madly">Tristan Prettyman - Madly</a><br />via <a href="http://www.foxytunes.com/signatunes/">FoxyTunes</a><br /><a href="http://www.foxytunes.com/signatunes/"></a> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/blog-post.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Kenyans sing the Indian National Anthem</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/blog-post.html"/>		
		<updated>2008-04-11T23:21:00-04:00</updated>
		<published>2008-04-11T23:21:00-04:00</published>
		<content type="html"><![CDATA[	As part of  Pangea Day celebrations.<br /><br /><br /><br /><br /> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/coldtusker-declared-billionaire.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Coldtusker declared a Billionaire</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/coldtusker-declared-billionaire.html"/>		
		<updated>2008-04-11T12:35:00-04:00</updated>
		<published>2008-04-11T12:35:00-04:00</published>
		<content type="html"><![CDATA[	oIts official... coldtusker is a BILLIONAIRE.... Heck, he might be a TRILLIONAIRE... by the time you read this...<br /><br />The ZIM$ went from $50mn:US$1 to $60mn:US$1 in 2 days!<br /><br />Anyway... KShs 1 will get you (almost) Z$1,000,000<br /><br />So... a KShs 1,000 = Z$1,000,000,000 (1 billion!!!). I don't even bother about a million... Chump change...<br /><br />I am Movin' on up!<br /><br />P.S. The American (short scale) version of the billion is being used. ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/tanzanians-screwed-by-bank-of-tanzania.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Tanzanians screwed by Bank of Tanzania!</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/tanzanians-screwed-by-bank-of-tanzania.html"/>		
		<updated>2008-04-10T10:20:00-04:00</updated>
		<published>2008-04-10T10:20:00-04:00</published>
		<content type="html"><![CDATA[	Tanzanians are being <a href="http://www.thecitizen.co.tz/newe.php?id=4206">screwed by their own Central Bank (Bank of Tanzania)</a> regarding the SafCon IPO... What a pity but more shares for Kenyans!<br /><br />Heads up from <a href="http://bankelele.blogspot.com/">Bankelele</a>.<br /><br />Well... Ugandans are far luckier! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/lower-those-brokerage-fees.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Lower those brokerage fees!</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/lower-those-brokerage-fees.html"/>		
		<updated>2008-04-08T18:53:00-04:00</updated>
		<published>2008-04-08T18:53:00-04:00</published>
		<content type="html"><![CDATA[	Finally the <a href="http://eastandard.net/business/?id=1143984501&amp;cid=14">CMA is damning the high brokerage fees</a> that allow lousy brokers to survive!<br /><br />Some broker give inane reasons... that the broker fees help 'grow the market'... more like grow their profits for lousy inefficient service!<br /><br />Itslong overdue for Kenyan brokers to embrace flat fees. Its long overdue for Kenya to have a 2nd stock exchange modeled on the all-electronic NASDAQ.<br /><br />The NSE charges horrendous fees for having firms listed! You should eliminate the fees so more firms list! Brokers - who own the NSE - should make money off trades not listing fees! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/04/new-ministries.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: New Cabinet Lineup...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/04/new-ministries.html"/>		
		<updated>2008-04-04T13:33:00-04:00</updated>
		<published>2008-04-04T13:33:00-04:00</published>
		<content type="html"><![CDATA[	<a href="http://brandkemistry.wordpress.com/2008/04/03/our-new-cabinet-proposalseven-civil-society-have-nothing-on-us/#comment-53">Here they are</a>...<br /><a href="http://www.thinkersroom.com/blog/2008/04/white-smoke-kenya-has-a-cabinet/#comments"><br />An alternate link with names</a>...<br /><a href="http://eastandard.net/?mnu=cartoon&amp;sub=19"><br />Great cartoon that hits the nail on the head</a>... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2008/03/capital-markets-in-kenya-back-with-roar.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Capital Markets in Kenya back with a roar...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2008/03/capital-markets-in-kenya-back-with-roar.html"/>		
		<updated>2008-03-19T22:46:00-04:00</updated>
		<published>2008-03-19T22:46:00-04:00</published>
		<content type="html"><![CDATA[	BAT <a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=3&amp;newsid=119386">released excellent results</a> for FY2007. They are introducing new 10-stick packaging ahead of the Anti-tobacco legislation. BTW, BAT recorded the highest PAT in its history even with the pending Anti-Tobacco legislation &amp; ad-hoc by-laws by many municipalities.<br />P.S. I do not smoke. I think it is a nasty habit. But as an investment... sigh... I struggle... should buy shares I or not?<br /><br />Co-op Bank plans an IPO in 3Q 2008... yes, the bank that went through a rough patch after the US Embassy bombings in Nairobi is now <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=6568&amp;Itemid=5812">immensely profitable</a> as agricultural fortunes improve for farmers. My gut feeling is that Co-op Bank needs to clean up their books before the IPO. There are many co-ops &amp; saccos who are in poor shape. The government guarantees &amp; write-offs promised to coffee farmers, etc has definitely bolstered Co-op Bank's balance sheet quality.<br />They want to raise KShs 5bn to bolster the balance sheet. I like the focus of growth of branches &amp; ATMs. Co-op banks expects <a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=3&amp;newsid=119422">PBT to hit KShs 3.5bn</a> during 2008. Not bad!<br /><br />KCB plans a Rights Issue to raise KShs 5bn in 2Q 2008. It will probably be after the SafCon OFS is completed. No-one wants to go head to head with SafCon... Expansion into E.Africa is on the books.<br /><br />Olympia Capital is back in the news after a lengthy period of silence after raising KShs 420mn (gross) during its Rights Issue in 3Q 2007. OCC (its 51% subsidiary based in Botswana) is back in the <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=6556&amp;Itemid=5812">acquisitions game</a>. The SA acquisition of a complementary player in the building sector is expected to close in 2-3 weeks. OCC's largest division is Plush of SA.<br />OCHL's results are expected by 31 may 2008. The recent fall in price to 11.50 makes it rather attractive considering the Rights were at 14/- just 6 months ago.<br /><br />Chase Bank <a href="http://www.bdafrica.com/index.php?option=com_content&amp;task=view&amp;id=6569&amp;Itemid=5812">owns a broker</a>. Smart purchase back in the day. Suddenly, the bank itself is in play! BTW, Gachui of TransCentury owns shares in the bank. Well... that means, TC could wind up owning a bank &amp; a broker...<br /><br /><a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=3&amp;newsid=119406">BIDCO wants more farmers to grow sunflowers</a> for their Oil plant in Eldoret. I hope Kenyan farmers take up the challenge to reduce dependence on imported cooking oils. There is also demand for cotton seeds for their oil. I think BIDCO will be the next huge firm to go public by 2010.<br /><br />Essar is making big bets in Kenya. <a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=3&amp;newsid=119383">One of them is through Econet</a> &amp; there is the refinery. They are not easy pickings with the Kenyan government hamstringing Econet &amp; the refinery deal. Good luck to them. I do hope Econet can lower the costs of calling in Kenya.<br /><br /><a href="http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=3&amp;newsid=119382">Sasini's coffee shops seem to doing well.</a> Sasini raised 600mn last year to fund expansion. Well,,, good luck to them! I am not a huge fan of Merali firms since they generally perform poorly but Sasini may buck the trend with high coffee prices.<br /><br />Well... the above is certainly a break from the gloomy stuff of the past few weeks... ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2007/09/my-stocks.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: My Stocks</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2007/09/my-stocks.html"/>		
		<updated>2007-09-11T01:43:00-04:00</updated>
		<published>2007-09-11T01:43:00-04:00</published>
		<content type="html"><![CDATA[	<a href="http://www.foxytunes.com/artist/instrumental/track/apna+asmaan+%28dawn%29" title="'Instrumental - Apna Asmaan (Dawn)' - open on FoxyTunes Planet"></a>The tools offered by <a href="http://www.mystocks.co.ke/">mystocks</a> keep on improving. I am surprised the site is still free for users. I would recommend using it while it is free!<br /><br />The tools include:<br />- Portfolio Tracker<br />- Stocks Drill (basic for now)<br />- Graphing &amp; comparison capabilities (including accounting for bonuses &amp; splits)<br /><br />I have some issue with the way the details on the live feed are displayed but I understand they are working on it. I like seeing "depth" on the trades.<br /><br />There is a "mystocks+" that is geared towards corporate users.<br /><br />Kudos to the enterprising Kenyan(s).<br /> ]]></content>
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</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2007/09/kenyas-triumphs-at-iaaf-world-athletics.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Kenya's triumphs at the IAAF World Athletics Championship</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2007/09/kenyas-triumphs-at-iaaf-world-athletics.html"/>		
		<updated>2007-09-02T15:57:00-04:00</updated>
		<published>2007-09-02T15:57:00-04:00</published>
		<content type="html"><![CDATA[	Spectacular!<br /><br />Kenya placed 2nd in the recently concluded 2007 IAAF World Championship in Osaka.<br /><br />Kudos to our athletes! Kenya could have bagged more medals if you count the guys &amp; gals we "lost" to other countries. Kenya ended up with 13 medals (5G, 3S, 5B). Russia had 4G medals. Kenya could have had 16 medals if you include Kenyans running for other countries.<br /><br />GOLD<br />Yego - 800m (M)<br />Jepkosgei - 800 m (W)<br />Luke Kibet - Marathon (W)<br />Catherine Ndereba - Marathon (W)<br /><br />SILVER<br />Vivian Cheruiyot - 5000m (W)<br />Eliud Kipchoge - 5000m (M)<br /><br />BRONZE<br />Priscah Cherono - 5000m (W)<br />Eunice Jepkorir - 3000m Steeplechase (W)<br /><br />Bernard Lagat won a gold in the 1500m &amp; 5000m for the USA (at least the USA doesn't force you to change your name &amp; religion like the Qataris &amp; Bahrainis!). Those were 2 Golds "lost" for Kenya! ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2007/08/this-is-her-she-has-it-all-and-she-is.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Her... She... is... Mine...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2007/08/this-is-her-she-has-it-all-and-she-is.html"/>		
		<updated>2007-08-18T11:57:00-04:00</updated>
		<published>2007-08-18T11:57:00-04:00</published>
		<content type="html"><![CDATA[	<a href="http://bp0.blogger.com/_zhDahHVs_Ds/RscmNDNDfLI/AAAAAAAAAAM/f4qr4bivApI/s1600-h/blackberry_curve_2.jpg"><img src="http://bp0.blogger.com/_zhDahHVs_Ds/RscmNDNDfLI/AAAAAAAAAAM/f4qr4bivApI/s320/blackberry_curve_2.jpg" alt="" /></a><br /><a href="http://bp0.blogger.com/_zhDahHVs_Ds/RscmNDNDfMI/AAAAAAAAAAU/0ul19cuXQA8/s1600-h/blackberry-curve-official.jpg"><img src="http://bp0.blogger.com/_zhDahHVs_Ds/RscmNDNDfMI/AAAAAAAAAAU/0ul19cuXQA8/s320/blackberry-curve-official.jpg" alt="" /></a> ]]></content>
 		<category term="Rave" />
</entry>
<entry>
		<id>http://coldtusker.blogspot.com/2007/07/seems-like-speech-kenyans-need.html</id>
		<author><name></name></author>
		<title>Rants, Raves &amp;amp; Reviews: Seems like a speech Kenyans need...</title>
                <link rel="alternate" type="text/html" href="http://coldtusker.blogspot.com/2007/07/seems-like-speech-kenyans-need.html"/>		
		<updated>2007-07-25T18:30:00-04:00</updated>
		<published>2007-07-25T18:30:00-04:00</published>
		<content type="html"><![CDATA[	I was reading on India's new president... a woman names Pratibha Patil... anyway, so I clicked through onto Wikipedia about the former president... <a href="http://en.wikipedia.org/wiki/A._P._J._Abdul_Kalam">APJ Abdul Kalam</a>... A Muslim president in a pre-dominantly Hindu country... Granted it is primarily a ceremonial post but India has had:<ul><li>A Muslim president (APJA Kalam, Zakhir Hussain, Fakhruddin Ali Ahmed)<br /></li><li>A woman prime minister (Indira Gandhi)</li><li>A woman president (Pratibha Patil)</li></ul>So... back to APJAK's speech... very interesting... and applies to Kenyans as well. We change our clothes when we are abroad. Well, almost... Just replace "India" with "Kenya"... there is a stark resemblance...<br /><br />APJAK was not a politician. We need someone like him, a non-politician as the next president of Kenya. Someone who serves for one term... but a dedicated one-term... Note that India's president has limited powers but remains a check on the Prime Minister's powers. India does have a technocrat PM - Manmohan Singh - who did wonders liberalising India's economy when he was Finance Minister. Of course, he is doing a great job as PM. India has a growth rate of almost 8% or higher for the past few years!<br /><br />I have copied the speech below but here is the <a href="http://www.icbs.com/IIT/abdul-kalam-speech.htm">link...</a><br /><p>     "I have three visions for India. In 3000 years of our history, people from  all over the world have come and invaded us, captured our lands, conquered  our minds. From Alexander onwards, The Greeks, the Turks, the Moguls, the  Portuguese, the British, the French, the Dutch, all of them came and looted  us, took over what was ours. Yet we have not done this to any other nation.  We have not conquered anyone. We have not grabbed their land, their  culture, their history and Tried to enforce our way of life on them. Why?  Because we respect the freedom of others.</p><p>   That is why my first vision is that of FREEDOM. I believe that India got  its first vision of this in 1857, when we started the war of Independence.  It is this freedom that we must protect and nurture and build on. If we are  not free, no one will respect us.</p><p>   My second vision for India's DEVELOPMENT, For fifty years we have been A  developing nation. It is time we see ourselves as a developed nation. We are  among top 5 nations of the world in terms of GDP. We have 10 percent growth  rate in most areas. Our poverty levels are falling. Our achievements are  being globally recognized today. Yet we lack the self-confidence to see  ourselves as a developed nation, self-reliant and self-assured. Isn't this  incorrect?</p><p>   I have a THIRD vision. India must stand up to the world. Because I believe  that, unless India stands up to the world, no one will respect us. Only  strength respects strength. We must be strong not only as a military power  but also as an economic power. Both must go hand-in-hand. My good fortune  was to have worked with three great minds. Dr. Vikram Sarabhai of the Dept.  of space, Professor Satish Dhawan, who succeeded him and Dr.Brahm Prakash,  father of nuclear material. I was lucky to have worked with all three of  them closely and consider this the great opportunity of my life.I see four  milestones in my career:</p><p>   Twenty years I spent in ISRO. I was given the opportunity to be the project  director for India's first satellite launch vehicle, SLV3. The one that  launched Rohini. These years played a very important role in my life of  Scientist. After my ISRO years, I joined DRDO and got a chance to be the part  of India's guided missile program. It was my second bliss when Agni met its mission requirements in 1994.</p><p>   The Dept. of Atomic Energy and DRDO had this tremendous partnership in the  recent nuclear tests, on May 11 and 13. This was the third bliss. The joy of  participating with my team in these nuclear tests and proving to the world  that India can make it, that we are no longer a developing nation but one of  them. It made me feel very proud as an Indian. The fact that we have now  developed for Agni a re-entry structure, for which we have developed this  new material. A Very light material called carbon-carbon.</p><p>   One day an orthopedic surgeon from Nizam Institute of Medical Sciences  visited my laboratory. He lifted the material and found it so light that he  took me to his hospital and showed me his patients. There were these  little girls and boys with heavy metallic calipers weighing over three Kg.  each, dragging their feet around.</p><p>  He said to me: Please remove the pain of my patients. In three weeks, we  made these Floor reaction Orthosis 300-gram calipers and took them to the  orthopedic center. The children didn't believe their eyes. From dragging  around a three kg. load on their legs, they could now move around! Their  parents had tears in their eyes. That was my fourth bliss!</p><p>   Why is the media here so negative? Why are we in India so embarrassed to  recognize our own strengths, our achievements? We are such a great nation. We  have so many amazing success stories but we refuse to acknowledge them. Why?</p><p>   We are the first in milk production.<br /> We are number one in Remote sensing satellites.<br /> We are the second largest producer of wheat.<br /> We are the second largest producer of rice.<br /> Look at Dr. Sudarshan, he has transferred the tribal village into a self-sustaining, self driving unit.<br /> There are millions of such achievements but our media is only obsessed in the bad news and failures and disasters.</p><p>   I was in Tel Aviv once and I was reading the Israeli newspaper. It was the  day after a lot of attacks and bombardments and deaths had taken place. The  Hamas had struck. But the front page of the newspaper had the picture of a  Jewish gentleman who in five years had transformed his desert land into an  orchid and a granary. </p><p>   It was this inspiring picture that everyone woke up to. The gory details of killings, bombardments, deaths, were inside in the newspaper, buried among other news. In India we only read about death, sickness, terrorism, crime. Why are we so NEGATIVE?</p><p>   Another question: Why are we, as a nation so obsessed with foreign things? We want foreign TVs, we want foreign shirts. We want foreign technology. Why this obsession with everything imported. Do we not realize that self-respect comes with self-reliance? I was in Hyderabad giving this lecture, when a 14 year old girl asked me for my autograph. I asked her what her goal in life is. She replied: I want to live in a developed India. For her, you and I will have to build this developed India. You must proclaim. India is not an under-developed nation; it is a highly developed nation.</p><p>   Do you have 10 minutes? Allow me to come back with a vengeance. Got 10  minutes for your country? If yes, then read; otherwise, choice is yours.</p><p>   YOU say that our government is inefficient.<br /> YOU say that our laws are too old.<br /> YOU say that the municipality does not pick up the garbage.<br /> YOU say that the phones don't work, the railways are a joke, the airline is  the worst in the world, mails never reach their destination.<br /> YOU say that our country has been fed to the dogs and is the absolute pits.<br /> YOU say, say and say.</p><p>   What do YOU do about it? Take a person on his way to Singapore. Give him a  name - YOURS.</p><p>  Give him a face - YOURS. YOU walk out of the airport and you are at your  International best.</p><p>  In Singapore you don't throw cigarette butts on the roads or eat in the  stores. YOU are as proud of their Underground Links as they are. You pay  $5(approx. Rs.60) to drive through Orchard Road (equivalent of Mahim  Causeway or Pedder Road) between 5 PM and 8 PM. YOU come back to the parking  lot to punch your parking ticket if you have over stayed in a restaurant or  a shopping mall irrespective of your status identity. In Singapore you don't  say anything, DO YOU? YOU wouldn't dare to eat in public during Ramadan, in  Dubai. YOU would not dare to go out without your head covered in Jeddah. YOU  would not dare to buy an employee of the telephone exchange in London  at 10 pounds (Rs.650) a month to, "see to it that my STD and ISD calls are  billed to someone else." </p><p>  YOU would not dare to speed beyond 55 mph (88 km/h) in Washington and then  tell the traffic cop, "Jaanta hai sala main kaun hoon (Do you know who I am?). I am so and so's  son. Take your two bucks and get lost." YOU wouldn't chuck an empty coconut  shell anywhere other than the garbage pail on the beaches in Australia and  New Zealand. Why don't YOU spit Paan on the streets of Tokyo? Why don't YOU  use examination jockeys or buy fake certificates in Boston? We are still  talking of the same YOU. YOU who can respect and conform to a foreign system  in other countries but cannot in your own. You who will throw papers and  cigarettes on the road the moment you touch Indian ground. If you can be an  involved and appreciative citizen in an alien country, why cannot you  be the same here in India?</p><p>   Once in an interview, the famous Ex-municipal commissioner of  Bombay, Mr. Tinaikar, had a point to make. "Rich people's dogs are walked on  the streets to leave their affluent droppings all over the place," he said."  And then the same people turn around to criticize and blame the authorities for  inefficiency and dirty pavements. What do they expect the officers to do? Go  down with broom every time their dog feels the pressure in his bowels?  In America every dog owner has to clean up after his pet has done the job.  Same in Japan. Will the Indian citizen do that here?" He's right. We go to  the polls to choose a government and after that forfeit all responsibility.  We sit back wanting to be pampered and expect the government to do  everything for us whilst our contribution is totally negative. We expect the  government to clean up but we are not going to stop chucking garbage all  over the place nor are we going to stop to pick up a stray piece of paper  and throw it in the bin. We expect the railways to provide clean bathrooms  but we are not going to learn the proper use of bathrooms.</p><p>   We want Indian Airlines and Air India to provide the best of food and  toiletries but we are not going to stop pilfering at the least opportunity.  This applies even to the staff who is known not to pass on the service to  the public. When it comes to burning social issues like those related to  women, dowry, girl child and others, we make loud drawing room protestations and continue to do the reverse at home.  Our excuse? 'It's the whole system which has to change, how will it matter  if I alone forego my sons' rights to a dowry.' </p><p>   So who's going to change the  system? What does a system consist of? Very conveniently for us it consists  of our neighbors, other households, other cities, other communities and the  government. But definitely not me and YOU. When it comes to us actually  making a positive contribution to the system we lock ourselves along with  our families into a safe cocoon and look into the distance at countries far  away and wait for a Mr. Clean to come along &amp; work miracles for us with a  majestic sweep of his hand or we leave the country and run away. Like lazy  cowards hounded by our fears we run to America to bask in their glory and  praise their system. When New York becomes insecure we run to England.  When England experiences unemployment, we take the next flight out to the  Gulf. When the Gulf is war struck, we demand to be rescued and brought home  by the Indian government. </p><p>   Everybody is out to abuse and rape the country.  Nobody thinks of feeding the system. Our conscience is mortgaged to money.</p><p>   Dear Indians,</p><p>   The article is highly thought inductive, calls for a great deal of  introspection and pricks one's conscience too....</p><p>   I am echoing J. F. Kennedy's words to his fellow Americans to relate to  Indians.....</p><p>   "ASK WHAT WE CAN DO FOR INDIA AND DO WHAT HAS TO BE DONE TO MAKE INDIA WHAT AMERICA AND OTHER WESTERN COUNTRIES ARE TODAY"</p><p>   Lets do what India needs from us.</p><p>    Thank you<br /> Abdul Kalaam</p><p>[Dr. APJ Abdul Kalaam was the President of India]</p> ]]></content>
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