>>> Brokers Upgrades & Downgrades - 15/09/2014

>>> Up
*DERWENT LONDON RAISED TO BUY VS HOLD AT LIBERUM
*EDENRED RAISED TO NEUTRAL VS REDUCE AT NOMURA
*HAMMERSON LONDON RAISED TO BUY VS HOLD AT LIBERUM
*LPKF RAISED TO BUY FROM HOLD AT BANKHAUS LAMPE
*MOL RAISED TO BUY VS NEUTRAL AT GOLDMAN
*MONCLER RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*SONATEL RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS


>>> Down
*KLEPIERRE CUT TO SELL VS HOLD AT LIBERUM
*LEG CUT TO NEUTRAL VS BUY AT GOLDMAN
*ORANGE POLSKA CUT TO UNDERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*UBS CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS

>>> PT changes


>>> Initiation
*ALSTOM RESUMED HOLD AT SOCGEN, PT EU31
*AMLIN RATED NEW MARKET PERFORM AT SANFORD BERNSTEIN
*BEAZLEY RATED NEW OUTPERFORM AT SANFORD BERNSTEIN
*CATLIN GROUP RATED NEW OUTPERFORM AT SANFORD BERNSTEIN
*HISCOX RATED NEW MARKET PERFORM AT SANFORD BERNSTEIN

>>> Call

>>> Nobel Biocare : To be acquired by Danaher for CHF17.10 per share, total ente

To be acquired by Danaher for CHF17.10 per share, total enterprise value approx $2.2B (5% below last closing price) 

Under the terms of the transaction agreement, Danaher will commence a voluntary all-cash public tender offer of CHF 17.10 per Nobel Biocare share to purchase all of Nobel Biocare's publicly held registered shares. The offer prospectus is expected to be published on or around October 1, 2014 and the offer period during which Nobel Biocare shareholders may tender their registered shares is expected to start on or around October 16, 2014. 

Nobel Biocare would become part of Danaher's $2.2 billion Dental segment and complements Danaher's position in the implant industry. 

The Nobel Biocare Board of Directors has recommended that Nobel Biocare shareholders accept and tender their shares into the offer, which represents a premium of approximately 23% to Nobel Biocare's closing price on July 28, 2014, the day before market speculation began regarding a potential sale of the Company, or 28% on the basis of the 60 day volume-weighted average price on that date. 

The offer is subject to customary conditions, including tender of 67% of the outstanding shares into the offer, applicable regulatory approvals and the absence of a material adverse change with respect to Nobel Biocare. The offer is expected to be completed in late 2014 or early 2015.

>>> Assa Abloy CEO says it may make further Chinese buys; in talks with possible

Assa Abloy CEO says it may make further Chinese buys; in talks with possible targets 

Assa Abloy, the listed Swedish lock manufacturer, is hoping to acquire further in China, according to Dagens Industri.

The Swedish business daily cited CEO, Johan Molin, after recent news that Assa Abloy is to acquire Chinese Jiawei. Molin was asked whether China’s lower underlying growth facilitates buys to which he responded that it seems that way and pointed out that Jiawei is the company’s third Chinese acquisition this year. He added that the company is already in talks with several other possible targets and it is likely that further Chinese deals will occur.


Source Dagens Industri

(BFW) *DANAHER TO BUY NOBEL BIOCARE HOLDING FOR CHF17.10/SHR

BN 09/15 05:06 *DANAHER: NOBEL BIOCARE BOARD RECOMMENDED HOLDERS ACCEPT OFFER
BN 09/15 05:06 *DANAHER: OFFER EXPECTED TO BE COMPLETED LATE '14 OR EARLY '15
BN 09/15 05:05 *DANAHER: NOBEL BIOCARE WOULD BECOME PART OF DENTAL SEGMENT
BN 09/15 05:03 *DANAHER AGREES TO BUY NOBEL BIOCARE FOR ABOUT $2.2B IN CASH
BN 09/15 05:00 *DANAHER REPORTS ALL-CASH TENDER OFFER FOR NOBEL BIOCARE
BN 09/15 05:00 *DANAHER ENTERED INTO DEFINITIVE TRANSACTION PACT WITH NOBEL
BN 09/15 05:00 *DANAHER: TOTAL ENTERPRISE VALUE OF ABOUT $2.2B
BFW 09/15 05:00 *DANAHER TO BUY NOBEL BIOCARE HOLDING FOR CHF17.10/SHR
BN 09/15 05:00 *DANAHER TO BUY NOBEL BIOCARE HOLDING FOR CHF17.10/SHR
BN 09/15 05:00 *DANAHER TO BUY NOBEL BIOCARE HOLDING FOR CHF 17.10/SHR
BN 09/15 05:00 *DANAHER TO BUY NOBEL BIOCARE HOLDING FOR CHF17.10-SHR
Danaher to Acquire Nobel Biocare Holding AG for CHF 17.10 per share
2014-09-15 05:00:03.705 GMT

Danaher to Acquire Nobel Biocare Holding AG for CHF 17.10 per share

- Danaher Corporation announces all-cash tender offer for all publicly held
registered shares of Nobel Biocare Holding AG ("Nobel Biocare") at a purchase
price of CHF 17.10 per share, representing a total enterprise value of
approximately $2.2 billion including debt assumed and net of cash acquired,
recommended by Nobel Biocare's Board of Directors.

PR Newswire

WASHINGTON, Sept. 15, 2014

WASHINGTON, Sept. 15, 2014 /PRNewswire/ -- Danaher Corporation (NYSE:DHR) has
entered into a definitive transaction agreement with Nobel Biocare Holding AG
("Nobel Biocare") (SIX Swiss Exchange: NOBN) pursuant to which Danaher
Corporation or one of its direct or indirect subsidiaries ("Danaher") will
commence a tender offer for all publicly held registered shares of Nobel
Biocare in an all-cash transaction valued at approximately $2.2 billion.  The
deal is expected to widen Danaher's market presence in the global dental
industry and allow Nobel Biocare to accelerate its strategic objectives and
future growth.

Under the terms of the transaction agreement, Danaher will commence a
voluntary all-cash public tender offer of CHF 17.10 per Nobel Biocare share to
purchase all of Nobel Biocare's publicly held registered shares.  The
pre-announcement of the public tender offer is published today. The offer
prospectus is expected to be published on or around October 1, 2014 and the
offer period during which Nobel Biocare shareholders may tender their
registered shares is expected to start on or around October 16, 2014. 
Headquartered in Zurich, Switzerland, Nobel Biocare is a world leader and
pioneer in the field of innovative implant-based dental restorations and
currently serves customers in 80 markets globally. The Company's portfolio of
solutions includes dental implant systems, high-precision individualized
prosthetics, biomaterials and digital diagnostics, treatment planning and
guided surgery.  In 2013, Nobel Biocare generated annual revenues of EUR 567
million (approximately $750 million based on 2013 calendar year-end exchange
rates).

Nobel Biocare would become part of Danaher's $2.2 billion Dental segment and
complements Danaher's position in the implant industry. 

Henk van Duijnhoven, Senior Vice President of Danaher's Dental segment, said,
"Nobel Biocare has a very strong track record as an innovator and leader in
the attractive market for dental implant and prosthetic solutions.  Bringing
Nobel Biocare's deep expertise in implant dentistry, digital prosthetics and
software together with our extensive knowledge in 3D imaging, intraoral
scanning and digital restorative solutions will further enable us to optimize
clinical workflows to the benefit of patients and dental practitioners.  This
combination will help us build a strong platform for future growth."

Danaher's President and CEO, Thomas P. Joyce, Jr., said, "Nobel Biocare's
broad reach and leadership position make it one of the strongest global brands
in the dental industry today.  We believe that application of the Danaher
Business System will provide Nobel Biocare with a unique opportunity to
further accelerate growth, expand margins, strengthen its market presence and
develop innovative solutions for dental patients and practitioners around the
world."

The Nobel Biocare Board of Directors has recommended that Nobel Biocare
shareholders accept and tender their shares into the offer, which represents a
premium of approximately 23% to Nobel Biocare's closing price on July 28,
2014, the day before market speculation began regarding a potential sale of
the Company, or 28% on the basis of the 60 day volume-weighted average price
on that date.  The offer is subject to customary conditions, including tender
of 67% of the outstanding shares into the offer, applicable regulatory
approvals and the absence of a material adverse change with respect to Nobel
Biocare.  The offer is expected to be completed in late 2014 or early 2015.

Danaher will host a conference call to discuss the transactions on September
15, 2014 at 8:30 a.m. ET. Access the call by dialing 888-686-9695 in the U.S.
or +1-913-312-1451 internationally, and referencing Danaher's Conference Call
(Conference ID 8605032). A telephone replay will be available by dialing
888-203-1112 in the U.S. or +1-719-457-0820 internationally, with Conference
ID 8605032. The replay will be available through September 22, 2014. The
conference call and replay will also be available via webcast on the Investor
section of www.danaher.com. 

About Danaher
Danaher is a global science and technology innovator committed to helping its
customers solve complex challenges and improving quality of life around the
world. Its family of world class brands have unparalleled leadership positions
in some of the most demanding and attractive industries, including health
care, environmental and communications. The company's globally diverse team of
66,000 associates is united by a common culture and operating system, the
Danaher Business System. In 2013, Danaher generated $19.1 billion in revenue
and its market capitalization exceeded $50 billion. For more information
please visit www.danaher.com.

Disclaimers
The public tender offer ("Tender Offer" or  "Offer") will not be made,
directly or indirectly, in any country or jurisdiction in which such Offer
would be considered unlawful or otherwise violate any applicable laws or
regulations, or which would require Danaher Corporation or any of its
affiliates to change or amend the terms or conditions of the Offer in any way,
to make any additional filing with any governmental or regulatory authority or
take any additional action in relation to the Offer. It is not intended to
extend the Offer to any such country or jurisdiction. Documents relating to
the Offer must neither be distributed in any such country or jurisdiction nor
be sent into such country or jurisdiction. Any such documents must not be used
for the purpose of soliciting the purchase of any securities of Nobel Biocare
by any person or entity resident or incorporated in any such country or
jurisdiction.

Notice to U.S. Holders
The Offer will be made for the registered shares of Nobel Biocare, a Swiss
company, and is subject to Swiss disclosure requirements, which are different
from those of the United States (U.S.). U.S. holders of Nobel Biocare shares
are encouraged to consult with their own Swiss advisors in connection with the
Offer.

The receipt of cash pursuant to the Offer by a U.S. holder of Nobel Biocare
shares may be a taxable transaction for U.S. federal income tax purposes and
under applicable U.S. state and local, as well as foreign and other tax laws.
Each shareholder of Nobel Biocare is urged to consult his independent
professional adviser immediately regarding the tax consequences of acceptance
of the Offer.

It may be difficult for U.S. holders to enforce their rights and any claim
arising out of U.S. federal securities laws, since the ultimate offeror may
be, and Nobel Biocare is, located in a non-U.S. jurisdiction, and some or all
of their officers and directors may be residents of a non-U.S. jurisdiction.
U.S. holders may not be able to sue a non-U.S. company or its officers or
directors in a non-U.S. court for violations of the U.S. securities laws.
Further, it may be difficult to compel a non-U.S. company and its affiliates
to subject themselves to a U.S. court's judgment.

You should be aware that Danaher and any of its affiliates and any advisor,
broker or financial institution acting as an agent or for the account or
benefit of Danaher may, subject to applicable Swiss and U.S. securities laws,
rules and regulations and pursuant to exemptive relief granted by the U.S.
Securities and Exchange Commission from Rule 14e-5 under the Securities
Exchange Act of 1934, as amended, make certain purchases of, or arrangements
to purchase, Nobel Biocare shares from shareholders of Nobel Biocare who are
willing to sell their Nobel Biocare shares outside the Offer from time to
time, including purchases in the open market at prevailing prices or in
private transactions at negotiated prices. Danaher or its respective affiliate
will disclose promptly any information regarding such purchases of Nobel
Biocare shares in Switzerland and the United States through the electronic
media, if and to the extent required under applicable laws, rules and
regulations in Switzerland.

United Kingdom
Communication about the offer is directed only at persons in the U.K. who (i)
have professional experience in matters relating to investments, (ii) are
persons falling within article 49(2)(a) to (d) («high net worth companies,
unincorporated associations, etc.») of The Financial Services and Markets Act
2000 (Financial Promotion) Order 2005 or (iii) to whom it may otherwise
lawfully be communicated (all such persons together being referred to as
«relevant persons»). Such communication must not be acted on or relied on by
persons who are not relevant persons. Any investment or investment activity to
which such communication relates is available only to relevant persons and
will be engaged in only with relevant persons.

Australia and Japan
The Offer will not be addressed to shareholders of Nobel Biocare whose place
of residence, seat or habitual abode is in Australia or Japan, and such
shareholders may not accept the Offer.

Forward Looking Statements
Statements in this release that are not strictly historical, including
statements regarding the proposed acquisition, the expected timetable for
completing the transaction, future financial and operating results, benefits
and synergies of the transaction, future opportunities for the combined
businesses and any other statements regarding events or developments that we
believe or anticipate will or may occur in the future, are "forward-looking"
statements within the meaning of the U.S. federal securities laws. There are a
number of important factors that could cause actual results, developments and
business decisions to differ materially from those suggested or indicated by
such forward-looking statements and you should not place undue reliance on any
such forward-looking statements. These factors include risks and uncertainties
related to, among other things: general economic conditions and conditions
affecting the industries in which Danaher and Nobel Biocare operate; the
uncertainty of regulatory approvals; the parties' ability to satisfy the
tender offer and merger agreement conditions and consummate the transaction;
Danaher's ability to successfully integrate Nobel Biocare's operations and
employees with Danaher's existing business; the ability to realize anticipated
growth, synergies and cost savings; and Nobel Biocare's performance and
maintenance of important business relationships.  Additional information
regarding the factors that may cause actual results to differ materially from
these forward-looking statements is available in Danaher's SEC filings,
including Danaher's 2013 Annual Report on Form 10-K and Quarterly Report on
Form 10-Q for the second quarter of 2014. These forward-looking statements
speak only as of the date of this release and Danaher does not assume any
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events and developments or otherwise.

Additional Information
This press release is neither an offer to purchase nor a solicitation of an
offer to sell registered shares. Shareholders of Nobel Biocare are urged to
read the offer documents, which are available at www.danaher.com.

SOURCE Danaher Corporation

Website: http://www.danaher.com
Contact: Investor Inquiries: Matthew E. Gugino, Vice President, Investor
Relations, Danaher Corporation, Telephone: (202) 828-0850, Fax: (202)
828-0860; Media Inquiries: James Acheson-Gray, Managing Director, APCO
Worldwide, Telephone: +44 772 520 6970, Email: jagray@apcoworldwide.com

-0- Sep/15/2014 05:00 GMT

>>> Asian Update

Asian Market Update: China industrial output slows to 6-year lows, renews fear of hard landing

***Economic Data*** - (CN) CHINA AUG INDUSTRIAL PRODUCTION Y/Y: 6.9% V 8.8%E (lowest since Dec 2008); INDUSTRIAL PRODUCTION YTD Y/Y: 8.5% V 8.8%E - (CN) CHINA AUG RETAIL SALES Y/Y: 11.9% V 12.1%E (4-month low); RETAIL SALES YTD Y/Y: 12.1% V 12.2%E - (CN) CHINA AUG YTD FIXED URBAN ASSETS Y/Y: 16.5% V 16.9%E (multi-year low) - (AU) AUSTRALIA AUG NEW MOTOR VEHICLE SALES M/M: -1.8% (7-month low) V -1.5% PRIOR; Y/Y: -3.5% V -0.6% PRIOR - (NZ) NEW ZEALAND AUG PERFORMANCE SERVICES INDEX: 57.9 V 58.4 PRIOR - (KR) SOUTH KOREA AUG EXPORT PRICE INDEX M/M: 0.1% v 0.3% PRIOR; Y/Y: -8.6% v -9.4% PRIOR; IMPORT PRICE INDEX M/M: -0.8% V -0.5% PRIOR; Y/Y: -9.9% v -8.6% (24th month of decline) PRIOR

***Index Snapshot (as of 02:30 GMT)*** - Nikkei225 closed, S&P/ASX -0.6%, Kospi -0.2%, Shanghai Composite -0.2%, Hang Seng -0.8%, Dec S&P500 -0.4% at 1,969

***Commodities/Fixed Income/Currencies*** - Dec gold +0.3% at $1,235/oz, Oct crude oil -1.2% at $91.21/brl, Dec copper -1.0% at $3.07/lb - (CN) PBOC Aug fx net sales CNY31.1B v net purchase CNY37.8B

***Market Focal Points/Key Themes*** - Talk of a benign slowdown in China following recovery in lending figures has taken a back seat to renewed panic after August industrial output slowed to its lowest level since Dec 2008 - the depth of the global financial crisis. Electricity production - a critical gauge tracked by Premier Li - fell for the first time since 2009, though some have attributed that to cool summer requiring less AC use. Also released over the weekend, retail sales slowed to a 4-month low while fixed investment growth is down at multi-year low rate. Copper and Crude oil are down over 1% in electronic trade on China data, while S&P500 futures fell about 7 handles or 0.4%. Local analysts are also increasingly concerned: Haitong cut Q3 GDP target to 7%, Everbright warned of a rising probability of hard landing, and ANZ estimated 9% industrial output required to achieve 7.5% annual GDP growth.

- Geopolitical jitters related to the war on ISIS continued to simmer. Over the weekend, militants reportedly bombed Iraq's largest Baiji oil refinery, setting it on fire. A new beheading video also emerged, showing execution of a prisoner, prompting condemnation from PM Cameron. US plan to recruit "moderate" Syrian rebels is also stalling, after they reportedly signed a non-aggression treaty with ISIS, deeming they have a "common enemy in Nussayri (Pres Assad) regime."

- Ahead of this week's Scotland referendum, the momentum for the NO vote is picking up. Opinium Research Poll for the Observer showed "YES" vote at 43%, "NO" at 47%, Undecided at 10%. Separately, Scottish Daily Record/Survation Scotland independence poll saw "YES" vote at 46%, "NO" vote at 54% (excluding undecided).

***Equities*** US markets: - ABB: CEO said to potentially consider medium-sized deals worth up to $4B - financial press - AAPL: To receive 0.15% cut from Apple Pay transactions - FT - RSH: Said to be considering $585M financing plan proposed by holder Standard General (7.1% stake) and UBS - financial press - NPSP: FDA advisory panel results: 8-5 vote in favor of Natpara risk-benefit profile

Notable movers by sector: - Financials: KB Financial Group Inc 105560.KR -5.4% (FSC suspends chairman for management failures); Macquarie Group Limited MQG.AU +1.8% (FY15 guidance) - Materials: Lynas Corp LYC.AU -11.5% (ends talks with Nomura on debt restructuring) - Energy: Sinopec 386.HK -4.2% (lower despite selling 30% stakes of Sinopec Retail) - Industrials: Elders ELD.AU +14.3% (announces successful financing results); Leighton Holdings LEI.AU -1.6% (press on leaked emails on bribery); Xinyi Solar 968.HK -2.6% (workers sit-in) - Utilities: AusNet Services AST.AU -3.0% (analyst action)

WSJ Fed Liftoff May Not Send Yields Soaring

Fed Liftoff May Not Send Yields Soaring

Long-term interest rates look primed to go higher. But that doesn't mean they will travel far.
The Federal Reserve's policy-setting committee gathers this week. It looks likely that, either in its postmeeting statement or through Chairwoman Janet Yellen's news conference, it will talk more concretely about when it will raise rates.
One reason: The economy looks stronger, with reports on services spending and retail sales last week prompting economists to raise estimates for gross domestic product. Another is that the debate over labor-market slack seems to be resolving toward a view that much of the fall in the labor-force participation rate, the share of the population working or looking for work, is due to structural factors such as an aging population. That implies the job market is closer to the point in which employers will have to pay up to hire workers.
With the economy looking better and the Fed looking more hawkish, bond investors have become a little less sanguine, sending the 10-year Treasury yield to 2.61% Friday from 2.35% at the end of last month. That is still well below 3.03% at this year's start.
Moreover, Federal Reserve Bank of New York figures show the term premium for the 10-year Treasury, the extra compensation investors demand to hold it over cash, has fallen sharply this year. Historically, bond returns have tended to be subpar when term premiums are so low, notes Columbia Management interest-rates strategist Zach Pandl.
Despite all the reasons for long-term rates to rise, there are also forces that could keep them low. First, Treasury yields are higher than counterparts in Europe and Japan. That makes them more attractive to investors.
With the European Central Bank considering further action, and the Bank of Japan showing no letup in its attempts to reflate the Japanese economy, that isn't about to change. And geopolitical risks could send more investors to seek safety in Treasurys.
Second, while the Fed matters for long-term rates, so does inflation. Economists estimate Wednesday's report on consumer inflation will show prices up just 1.9% in August from a year ago. So long as inflation remains low, investors may view even low-yielding Treasurys as a better alternative than cash. And after years of wrongly being told inflation would jump, they may need to see an actual pickup in prices before changing their minds.
Finally, the world still lacks for safer assets. Developing countries now account for 39% of the world economy, according to the International Monetary Fund, from 21% a decade ago. But often their financial markets haven't yet matured to the point where their citizens feel comfortable investing in them. Their savings have to go somewhere, and Treasurys are a favorite destination.
In the middle part of the last decade, the Fed faced the conundrum of why, even as it raised short-term rates, long-term rates stayed so low. History could repeat itself.

NY POst : Fearful baby boomers rein in their spending

Senior discounts won’t stop this financial meltdown.
New York City’s richest retirees can’t shake off the Great Recession — they’ve cut spending to the bone, fearing another stock market crash, according to new research and personal finance experts.
“The market has taught them lessons,” Beth Finkel, New York State director of the American Association of Retired People (AARP), told The Post.
“Even if things are going well, they’ve learned the lessons of the last market cycle and the economy. It is certainly troubling, especially if you magnify it by the demographic numbers,” Finkel said.
The stark demographic numbers from the US Census Bureau paint a future of diminishing spending: About 2.6 million of New York City’s 8.4 million residents are 50 years of age or older, nearing retirement or retired — and 30 percent of them are 65 or older.
By 2030, this latter group is projected to account for 16 percent of the city’s population.
With city retirees’ spending now sharply curbed, the damage to the local economy is incalculable. AARP estimates local retirees contribute about $100 billion annually to the New York City economy. The corresponding statewide tab is $600 billion.
But that’s changing.
“I think you are going to see a lot of baby boomers in New York City selling off their vacation homes soon in the Hamptons,” said James Dean, who studies luxury spending and financial habits as senior vice president at WealthEngine.
Dean says recent city retirees are downsizing — putting the brakes on their non-essential spending. This will result, he says, in a large inventory of unsold luxury second homes, which could see their prices slump by as much as 10 percent to 20 percent over the next 18 months.
Dean notes another trend among city retirees. “There’s a whole lot of less going on,” he said. “They will still travel, but it’ll be a bit more selective. They’ll scale down on their primary residence, too, because they need the extra income for their retirement.”
It doesn’t surprise local financial advisers. “Today’s retirees went through the 2008 financial crisis, and whether it is cutting down on extra dinners out or whatever, they are downsizing,” said Jerome Golden, president of Golden Retirement in New York City. “They’ve been driven to this.”
Many of the city’s recently retired well-heeled boomers have a mind-set more akin to survivors of the 1930s Great Depression.
T. Rowe Price, in a new study, noted how many recently retired workers now take in less than two-thirds of their pre-retirement income — 401(k)s and Social Security included.
Some manage on less than the 70 percent to 80 percent of their pre-retirement income that most financial planners estimate they need. Four out of 10 live on 60 percent or less.
Most are still recovering financially from the market’s last precipitous collapse.
“People were absolutely scarred,” said Paul Golden of the National Endowment for Financial Education. “It was jarring to people who were nearing retirement.”

NY Post : Hedge-fund execs invest in indie films for producer credits

Hedge-fund and financial industry execs are investing in independent films to snag producer credits and to go on set and meet the stars.
Media Society, an LA-based company launched in 2012, gives wealthy individuals the chance to be part of something glamorous, and make up to a 20 percent annualized return on their investment.
It just finished producing with Donna Gigliotti (Oscar-winning producer for “Shakespeare in Love”) “Big Stone Gap” with Ashley Judd, Whoopi Goldberg, Jenna Elfman and Patrick Wilson.
The company focuses mostly on feature films. It has a romantic comedy and a horror movie about to go in to production, and will cast big names.
The company’s CEO, Wade Bradley, is a former commodities trader/venture capitalist and his No. 2, CFO Helen Rosenberg, worked for Barry Diller at Universal Studios and Nielsen. Bradley says Media Society mitigates production costs and works only with A-level producers.
Media Society “members” are individuals with a $2.5 million net worth or higher and include financial industry execs, real estate developers and medical professionals.
The minimum investment is $150,000, targeting a 30 to 60 percent yield over a 36-month period.
Members get to attend major swank events with the stars and other VIPs, and be in the “inner circle” of the entertainment industry, says Bradley.

NY Post : Cook and Bono do the jig around paying taxes

Apple boss Tim Cook and U2 front man Bono shared more than just a stage last week — they also seem to agree on taxes.
Apple reportedly employs the Double Irish and Dutch Sandwich scheme of sending revenues through subsidiary companies to shift profits to lower tax jurisdictions.
The Irish band U2, ironically, decided to transfer its corporate “domicile” from Ireland to the Netherlands to save even more on taxes.
U2 was on stage to play a live show and celebrate its latest album, exclusively available for five weeks on the iTunes Store.
People following the deal say Apple is paying U2 (and its label, Universal) fees and royalties and as much as $100 million on marketing. And Apple is giving away up to 500 million copies of the Irish rock band’s new album, “Songs of Innocence.”
But there’s nothing innocent about the tax arrangements. Cook and Bono know green from a mile away.
Wayne Holton, partner and head of international tax group Citrin Cooperman, told On the Money that U2 could make out like bandits on the tax side with this new deal. U2 may well have a loss-making entity within its far-flung business empire that could absorb the latest stream of income, Holton says.

(Recode.ne) Tim Cook Says Apple Working on Products That Haven’t Even Been Rumor

Tim Cook Says Apple Working on Products That Haven’t Even Been Rumored Yet {http://on.recode.net/1sSgQjj<go>}

With all the leaks around the latest iPhones and Apple Watch, it’s easy to assume that Apple can’t keep a secret anymore.

Easy, but wrong.

Apple CEO Tim Cook said on Friday that not everything Apple is up to has hit the rumor mill.

“There are products we’re working on that no one knows about, yes — that haven’t been rumored about yet,” Cook said in an interview with Charlie Rose. Some of those will end up becoming great Apple products, while others will probably be shelved, Cook said.

“We kick around a lot of things internally,” he said, noting earlier in the interview that if you took one of each of the products Apple makes, they would fit on a small table.

During the interview, Cook reiterated his interest in TV, which he said is “stuck back in the ’70s.”

“TV is one we continue to have great interest in,” Cook said, adding that there are lots of areas that Apple is interested in, though, that it chooses not to work on.

As for the company’s biggest competitor, Cook named Google, which he noted enables a lot of other hardware competitors, including Samsung.

Twitter and Facebook are more partners than competitors, he said, adding that Apple has no plans to get into the social networking business. Meanwhile, Cook said that Amazon is “not a product company,” even though it makes “some tablets,” and a phone that you don’t see many places.

He also talked about the legacy of Steve Jobs, and Apple’s acquisition of Beats.