标题: Reverse-Merger Companies from China [打印本页] 作者: choi 时间: 6-10-2011 12:30 标题: Reverse-Merger Companies from China 本文通过一路BBS站telnet客户端发布
(1) David Barboza and Azam Ahmed, A Thorn to Some Chinese Companies. New York Times, June 10, 2011
http://dealbook.nytimes.com/2011/06/09/muddy-waters-research-is-a-thorn-to-some-chinese-companies/?scp=1&sq=A%20Thorn%20to%20Some%20Chinese%20Companies%20muddy&st=cse
("Today, there are more than 500 such Chinese [reverse merger] companies in the United States, collectively worth billions of dollars")
Quote:
"After the series of negative calls decimated the stocks of the Chinese companies, Mr. {Carson C] Block says he has received death threats and harassing phone calls and e-mails.
"But he said he would continue to publish his research. He says he believes investors and auditors need to understand how businesses operate in China.
"He explains by way of the firm’s name, Muddy Waters. It’s derived from a Chinese phrase that says the easiest way to catch fish is by muddying the water, forcing it to the surface.
“'You kick up the silt, and they rush to the top of the water,' he said of the Chinese proverb.
Note:
(a) Sino-Forest Corporation 加拿大嘉汉林业国际有限公司
http://www.sinoforest.com/
(formed in 1994)
See the stock price chart in the lower right corner of the home page.
(b) Orient Paper, Inc (real identity: 河北省保定市东方造纸有限公司)
(2) Dinny McMahon, 'Backdoor' China Plays Under Fire. Wall Street Journal, June 10, 2011
http://online.wsj.com/article/SB10001424052702304778304576375403437451750.html
("The SEC's ability to discipline these companies is limited. Reverse takeovers are legal, and the agency's jurisdiction doesn't extend into China, so it can't subpoena documents and people. With company assets and most senior executives in China, the U.S. has limited scope to enforce any decisions against them")
Note:
(a) China MediaExpress Holdings Inc. 中国高速频道
http://www.gstv.cc/
(This URL no longer works)
(b) Deloitte
http://en.wikipedia.org/wiki/Deloitte
(Deloitte Touche Tohmatsu Limited is the largest private professional services organization in the world; has approximately 170,000 staff at work in more than 140 countries; global headquarters at Manhattan; section 1 History)
(c) RINO International Corp
------------------------------Separately
(1) John Bussey, Facebook's Test in China: What Price Free Speech? Wall Street Journal, June 10, 2011
http://online.wsj.com/article/SB10001424052702304778304576375810359779964.html
Quote:
"Whoever dreamed up the legend of Faust, the sad tale of the man who traded his soul for unlimited knowledge, could well have been thinking ahead to Facebook and its fascination with China.
"'This is a train wreck waiting to happen,' says a businessman in Beijing familiar with China's Internet legacy. He and others believe Facebook will be allowed into the country, subjected to the same treatment Google and Yahoo received, and then spit out—its reputation for openness damaged, and its technology metabolized by a China eager to find new ways to spy on its citizens.
Note: The article cites
Clay Shirky, The Political Power of Social Media; Technology, the public sphere, and political change. Foreign Affairs, January/February, 2011
http://www.foreignaffairs.com/articles/67038/clay-shirky/the-political-power-of-social-media
(first hundred words free for non-subscribers)
(2) Catherine Rampell, Companies Spend on Equipment, Not Workers. New York Times, June 10, 2011.
http://www.nytimes.com/2011/06/10/business/10capital.html?_r=1&scp=1&sq=chinese%20expensive&st=cse
Quote:
(a) "Workers are getting more expensive while equipment is getting cheaper, and the combination is encouraging companies to spend on machines rather than people.
"'I want to have as few people touching our products as possible,' said Dan Mishek, managing director of Vista Technologies in Vadnais Heights, Minn. 'Everything should be as automated as it can be. We just can’t afford to compete with countries like China on labor costs, especially when workers are getting even more expensive.'
(b) "To add insult to injury, much of the equipment used to replace American workers is made by workers abroad, meaning that capital spending is going overseas. Of the four pieces of equipment Vista bought last year, one was made domestically. The others came from Israel, Switzerland and Germany. ('I try to avoid buying Chinese at the workplace and at home,' Mr. Mishek said.)