The capital stock (or just stock) of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors. Stock is different from the property and the assets of a business which may fluctuate in quantity and value.

Shares

The stock of a business is divided into multiple shares, the total of which must be stated at the time of business formation. Given the total amount of money invested in the business, a share has a certain declared face value, commonly known as the par value of a share. The par value is the ''de minimis'' (minimum) amount of money that a business may issue and sell shares for in many jurisdictions and it is the value represented as capital in the accounting of the business. In other jurisdictions, however, shares may not have an associated par value at all. Such stock is often called non-par stock. Shares represent a fraction of ownership in a business. A business may declare different types (''classes'') of shares, each having distinctive ownership rules, privileges, or share values.

Ownership of shares is documented by issuance of a stock certificate. A stock certificate is a legal document that specifies the amount of shares owned by the shareholder, and other specifics of the shares, such as the par value, if any, or the class of the shares.

Usage

Used in the plural, ''stocks'' is often used as a synonym for ''shares''. Traditionalist demands for the plural ''stocks'' to be used only when referring to stocks of more than one company are rarely heard nowadays.

In the United Kingdom, Republic of Ireland, South Africa, and Australia, ''stock'' can also refer to completely different financial instruments such as government bonds or, less commonly, to all kinds of marketable securities.

Types of stock

Stock typically takes the form of shares of either common stock or preferred stock. As a unit of ownership, common stock typically carries voting rights that can be exercised in corporate decisions. Preferred stock differs from common stock in that it typically does not carry voting rights but is legally entitled to receive a certain level of dividend payments before any dividends can be issued to other shareholders. Convertible preferred stock is preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Shares of such stock are called "convertible preferred shares" (or "convertible preference shares" in the UK)

New equity issues may have specific legal clauses attached that differentiate them from previous issues of the issuer. Some shares of common stock may be issued without the typical voting rights, for instance, or some shares may have special rights unique to them and issued only to certain parties. Often, new issues that have not been registered with a securities governing body may be restricted from resale for certain periods of time.

Preferred stock may be hybrid by having the qualities of bonds of fixed returns and common stock voting rights. They also have preference in the payment of dividends over common stock and also have been given preference at the time of liquidation over common stock. They have other features of accumulation in dividend.

Stock derivatives

A stock derivative is any financial instrument which has a value that is dependent on the price of the underlying stock. Futures and options are the main types of derivatives on stocks. The underlying security may be a stock index or an individual firm's stock, e.g. single-stock futures.

Stock futures are contracts where the buyer is long, i.e., takes on the obligation to buy on the contract maturity date, and the seller is short, i.e., takes on the obligation to sell. Stock index futures are generally not delivered in the usual manner, but by cash settlement.

A stock option is a class of option. Specifically, a call option is the right (''not'' obligation) to buy stock in the future at a fixed price and a put option is the right (''not'' obligation) to sell stock in the future at a fixed price. Thus, the value of a stock option changes in reaction to the underlying stock of which it is a derivative. The most popular method of valuing stock options is the Black Scholes model. Apart from call options granted to employees, most stock options are transferable.

History

During Roman times, the empire contracted out many of its services to private groups called publicani. Shares in publicani were called "socii" (for large cooperatives) and "particulae" which were analogous to today's Over-The-Counter shares of small companies. Though the records available for this time are incomplete, Edward Chancellor states in his book ''Devil Take the Hindmost'' that there is some evidence that a speculation in these shares became increasingly widespread and that perhaps the first ever speculative bubble in "stocks" occurred.

The first company to issue shares of stock after the Middle Ages was the Dutch East India Company in 1606. The innovation of joint ownership made a great deal of Europe's economic growth possible following the Middle Ages. The technique of pooling capital to finance the building of ships, for example, made the Netherlands a maritime superpower. Before adoption of the joint-stock corporation, an expensive venture such as the building of a merchant ship could be undertaken only by governments or by very wealthy individuals or families.

Economic historians find the Dutch stock market of the 17th century particularly interesting: there is clear documentation of the use of stock futures, stock options, short selling, the use of credit to purchase shares, a speculative bubble that crashed in 1695, and a change in fashion that unfolded and reverted in time with the market (in this case it was headdresses instead of hemlines). Dr. Edward Stringham also noted that the uses of practices such as short selling continued to occur during this time despite the government passing laws against it. This is unusual because it shows individual parties fulfilling contracts that were not legally enforceable and where the parties involved could incur a loss. Stringham argues that this shows that contracts can be created and enforced without state sanction or, in this case, in spite of laws to the contrary.

Shareholder

A shareholder (or ''stockholder'') is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Both private and public traded companies have shareholders. Companies listed at the stock market are expected to strive to enhance shareholder value.

Shareholders are granted special privileges depending on the class of stock, including the right to vote on matters such as elections to the board of directors, the right to share in distributions of the company's income, the right to purchase new shares issued by the company, and the right to a company's assets during a liquidation of the company. However, shareholder's rights to a company's assets are subordinate to the rights of the company's creditors.

Shareholders are considered by some to be a partial subset of stakeholders, which may include anyone who has a direct or indirect equity interest in the business entity or someone with even a non-pecuniary interest in a non-profit organization. Thus it might be common to call volunteer contributors to an association stakeholders, even though they are not shareholders.

Although directors and officers of a company are bound by fiduciary duties to act in the best interest of the shareholders, the shareholders themselves normally do not have such duties towards each other.

However, in a few unusual cases, some courts have been willing to imply such a duty between shareholders. For example, in California, USA, majority shareholders of closely held corporations have a duty to not destroy the value of the shares held by minority shareholders.

The largest shareholders (in terms of percentages of companies owned) are often mutual funds, and, especially, passively managed exchange-traded funds.

Application

The owners of a company may want additional capital to invest in new projects within the company. They may also simply wish to reduce their holding, freeing up capital for their own private use.

By selling shares they can sell part or all of the company to many part-owners. The purchase of one share entitles the owner of that share to literally share in the ownership of the company, a fraction of the decision-making power, and potentially a fraction of the profits, which the company may issue as dividends.

In the common case of a publicly traded corporation, where there may be thousands of shareholders, it is impractical to have all of them making the daily decisions required to run a company. Thus, the shareholders will use their shares as votes in the election of members of the board of directors of the company.

In a typical case, each share constitutes one vote. Corporations may, however, issue different classes of shares, which may have different voting rights. Owning the majority of the shares allows other shareholders to be out-voted – effective control rests with the majority shareholder (or shareholders acting in concert). In this way the original owners of the company often still have control of the company.

Shareholder rights

Although ownership of 50% of shares does result in 50% ownership of a company, it does not give the shareholder the right to use a company's building, equipment, materials, or other property. This is because the company is considered a legal person, thus it owns all its assets itself. This is important in areas such as insurance, which must be in the name of the company and not the main shareholder.

In most countries, boards of directors and company managers have a fiduciary responsibility to run the company in the interests of its stockholders. Nonetheless, as Martin Whitman writes: :''...it can safely be stated that there does not exist any publicly traded company where management works exclusively in the best interests of OPMI [Outside Passive Minority Investor] stockholders. Instead, there are both "communities of interest" and "conflicts of interest" between stockholders (principal) and management (agent). This conflict is referred to as the principal/agent problem. It would be naive to think that any management would forgo management compensation, and management entrenchment, just because some of these management privileges might be perceived as giving rise to a conflict of interest with OPMIs.''

Even though the board of directors runs the company, the shareholder has some impact on the company's policy, as the shareholders elect the board of directors. Each shareholder typically has a percentage of votes equal to the percentage of shares he or she owns. So as long as the shareholders agree that the management (agent) are performing poorly they can elect a new board of directors which can then hire a new management team. In practice, however, genuinely contested board elections are rare. Board candidates are usually nominated by insiders or by the board of the directors themselves, and a considerable amount of stock is held or voted by insiders.

Owning shares does not mean responsibility for liabilities. If a company goes broke and has to default on loans, the shareholders are not liable in any way. However, all money obtained by converting assets into cash will be used to repay loans and other debts first, so that shareholders cannot receive any money unless and until creditors have been paid (often the shareholders end up with nothing).

Means of financing

Financing a company through the sale of stock in a company is known as equity financing. Alternatively, debt financing (for example issuing bonds) can be done to avoid giving up shares of ownership of the company. Unofficial financing known as trade financing usually provides the major part of a company's working capital (day-to-day operational needs).

Trading

The shares of a company may in general be transferred from shareholders to other parties by sale or other mechanisms, unless prohibited. Most jurisdictions have established laws and regulations governing such transfers, particularly if the issuer is a publicly-traded entity.

The desire of stockholders to trade their shares has led to the establishment of stock exchanges. A stock exchange is an organization that provides a marketplace for trading shares and other derivatives and financial products. Today, investors are usually represented by a stock broker who buys and sells shares of a wide range of companies on the exchanges. A company may list its shares on an exchange by meeting and maintaining the listing requirements of a particular stock exchange. In the United States, through the inter-market quotation system, stocks listed on one exchange can also be traded on other participating exchanges, including the Electronic Communication Networks (ECNs), such as Archipelago or Instinet.

Many large non-U.S companies choose to list on a U.S. exchange as well as an exchange in their home country in order to broaden their investor base. These companies must maintain a block of shares at a bank in the US, typically a certain percentage of their capital. On this basis, the holding bank establishes American Depositary Shares and issues an American Depository Receipt (ADR) for each share a trader acquires. Likewise, many large U.S. companies list their shares at foreign exchanges to raise capital abroad.

Small companies that do not qualify and cannot meet the listing requirements of the major exchanges may be traded ''over the counter'' (OTC) by an off-exchange mechanism in which trading occurs directly between parties. The major OTC markets in the United States are the electronic quotation systems OTC Bulletin Board (OTCBB) and the Pink OTC Markets (''Pink Sheets'') where individual retail investors are also represented by a brokerage firm and the quotation service's requirements for a company to be listed are minimal. Shares of companies in bankruptcy proceeding are usually listed by these quotation services after the stock is delisted from an exchange.

Buying

There are various methods of buying and financing stocks. The most common means is through a stock broker. Whether they are a full service or discount broker, they arrange the transfer of stock from a seller to a buyer. Most trades are actually done through brokers listed with a stock exchange.

There are many different stock brokers from which to choose, such as full service brokers or discount brokers. The full service brokers usually charge more per trade, but give investment advice or more personal service; the discount brokers offer little or no investment advice but charge less for trades. Another type of broker would be a bank or credit union that may have a deal set up with either a full service or discount broker.

There are other ways of buying stock besides through a broker. One way is directly from the company itself. If at least one share is owned, most companies will allow the purchase of shares directly from the company through their investor relations departments. However, the initial share of stock in the company will have to be obtained through a regular stock broker. Another way to buy stock in companies is through Direct Public Offerings which are usually sold by the company itself. A direct public offering is an initial public offering in which the stock is purchased directly from the company, usually without the aid of brokers.

When it comes to financing a purchase of stocks there are two ways: purchasing stock with money that is currently in the buyer's ownership, or by buying stock on margin. Buying stock on margin means buying stock with money borrowed against the stocks in the same account. These stocks, or collateral, guarantee that the buyer can repay the loan; otherwise, the stockbroker has the right to sell the stock (collateral) to repay the borrowed money. He can sell if the share price drops below the margin requirement, at least 50% of the value of the stocks in the account. Buying on margin works the same way as borrowing money to buy a car or a house, using a car or house as collateral. Moreover, borrowing is not free; the broker usually charges 8–10% interest.

Selling

Selling stock is procedurally similar to buying stock. Generally, the investor wants to buy low and sell high, if not in that order (short selling); although a number of reasons may induce an investor to sell at a loss, e.g., to avoid further loss.

As with buying a stock, there is a transaction fee for the broker's efforts in arranging the transfer of stock from a seller to a buyer. This fee can be high or low depending on which type of brokerage, full service or discount, handles the transaction.

After the transaction has been made, the seller is then entitled to all of the money. An important part of selling is keeping track of the earnings. Importantly, on selling the stock, in jurisdictions that have them, capital gains taxes will have to be paid on the additional proceeds, if any, that are in excess of the cost basis.

Stock price fluctuations

The price of a stock fluctuates fundamentally due to the theory of supply and demand. Like all commodities in the market, the price of a stock is sensitive to demand. However, there are many factors that influence the demand for a particular stock. The fields of fundamental analysis and technical analysis attempt to understand market conditions that lead to price changes, or even predict future price levels. A recent study shows that customer satisfaction, as measured by the American Customer Satisfaction Index (ACSI), is significantly correlated to the market value of a stock. Stock price may be influenced by analyst's business forecast for the company and outlooks for the company's general market segment.

Share price determination

At any given moment, an equity's price is strictly a result of supply and demand. The supply, commonly referred to as the ''float'', is the number of shares offered for sale at any one moment. The demand is the number of shares investors wish to buy at exactly that same time. The price of the stock moves in order to achieve and maintain equilibrium. The product of this instantaneous price and the float at any one time is the market capitalization of the entity offering the equity at that point in time.

When prospective buyers outnumber sellers, the price rises. Eventually, sellers attracted to the high selling price enter the market and/or buyers leave, achieving equilibrium between buyers and sellers. When sellers outnumber buyers, the price falls. Eventually buyers enter and/or sellers leave, again achieving equilibrium.

Thus, the value of a share of a company at any given moment is determined by all investors voting with their money. If more investors want a stock and are willing to pay more, the price will go up. If more investors are selling a stock and there aren't enough buyers, the price will go down.

Note: "For Nasdaq-listed stocks, the price quote includes information on the bid and ask prices for the stock."

Of course, that does not explain how people decide the maximum price at which they are willing to buy or the minimum at which they are willing to sell. In professional investment circles the efficient market hypothesis (EMH) continues to be popular, although this theory is widely discredited in academic and professional circles. Briefly, EMH says that investing is overall (weighted by a Stdev) rational; that the price of a stock at any given moment represents a rational evaluation of the known information that might bear on the future value of the company; and that share prices of equities are priced ''efficiently'', which is to say that they represent accurately the expected value of the stock, as best it can be known at a given moment. In other words, prices are the result of discounting expected future cash flows.

The EMH model, if true, has at least two interesting consequences. First, because financial risk is presumed to require at least a small premium on expected value, the return on equity can be expected to be slightly greater than that available from non-equity investments: if not, the same rational calculations would lead equity investors to shift to these safer non-equity investments that could be expected to give the same or better return at lower risk. Second, because the price of a share at every given moment is an "efficient" reflection of expected value, then—relative to the curve of expected return—prices will tend to follow a random walk, determined by the emergence of information (randomly) over time. Professional equity investors therefore immerse themselves in the flow of fundamental information, seeking to gain an advantage over their competitors (mainly other professional investors) by more intelligently interpreting the emerging flow of information (news).

The EMH model does not seem to give a complete description of the process of equity price determination. For example, stock markets are more volatile than EMH would imply. In recent years it has come to be accepted that the share markets are not perfectly efficient, perhaps especially in emerging markets or other markets that are not dominated by well-informed professional investors.

Another theory of share price determination comes from the field of Behavioral Finance. According to Behavioral Finance, humans often make irrational decisions—particularly, related to the buying and selling of securities—based upon fears and misperceptions of outcomes. The irrational trading of securities can often create securities prices which vary from rational, fundamental price valuations. For instance, during the technology bubble of the late 1990s (which was followed by the dot-com bust of 2000–2002), technology companies were often bid beyond any rational fundamental value because of what is commonly known as the "greater fool theory". The "greater fool theory" holds that, because the predominant method of realizing returns in equity is from the sale to another investor, one should select securities that they believe that someone else will value at a higher level at some point in the future, without regard to the basis for that other party's willingness to pay a higher price. Thus, even a rational investor may bank on others' irrationality.

Arbitrage trading

When companies raise capital by offering stock on more than one exchange, the potential exists for discrepancies in the valuation of shares on different exchanges. A keen investor with access to information about such discrepancies may invest in expectation of their eventual convergence, known as arbitrage trading. Electronic trading has resulted in extensive price transparency (efficient market hypothesis) and these discrepancies, if they exist, are short-lived and quickly equilibrate.

See also

Arrangements between railroads

Boiler room

Bucket shop

Buying in (securities)

Concentrated stock

Direct Registration System

Equity investment

Exchange-traded fund

GICS

Golden share

House stock

Insider trading

Money managers

Naked short selling

Penny stock

Scripophily

Stock and flow

Stock dilution

Stock valuation

Stub (stock)

Tracking stock

Voting interest

References

External links

Stock Market Terminology

Stock Market Trivia: History of Stocks

The oldest share in the world, issued by the Dutch East India Company (Vereenigde Oost-Indische Compagnie or VOC), 1606.

Category:Stock market Category:Equity securities Category:Corporate finance Category:Economics terminology

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{{infobox company | company name

Asia Media Sdn Bhd| company_logo Image:AMlogo.jpg| company_type Private| company_slogan Malaysia's Largest Transit-TV Network| foundation established 2007 | location Puchong, Kuala Lumpur, Malaysia| key_people Datuk Wira Syed Ali Alhabshee (Chairman) Dato' Ricky Wong (Founder & CEO)Sabaruddin Ahmad Sabri (Executive Director)Dato' Hussain @ Rizal Bin A. Rahman (Non-Exec Director)Yeong Siew Lee (Non-Exec Director)David Wong (Strategy & Corporate Communications)| num_employees 70+ | products digital media | industry outdoor advertising| homepage http://www.asiamedia.net.my }}

Asia Media is a broadcasting, advertising and digital media company in Malaysia. It operates the country's Largest Transit-TV Network. The company provides infotainment and advertising services such as program sponsorships and video advertising using digital electronic displays installed in various indoor and outdoor premises. Asia Media also provides entertainment services, including local news, sports, health, entertainment, and documentary content.

As of March 2008, its network included:

3,175 screens on board the Malaysian Public Transportation System (Certified by the Malaysian Book of Records)

Asia Media TV

Asia Media TV, better known as AMTV, is Asia Media's flagship channel and is shown on its Transit-TV network. Contents include weekly programs on sales, marketing, technology, regional developments and news. According to Nielsen Research, AMTV has a daily viewership of 1.24 million.

AMTV participates in two way conversations that occur within the context of social media and then creates its programming based on what the viewers say they want. A typical digital campaign includes interaction via mobile phones, on-line participation, viral videos, games, polls and sweepstakes.

Recent corporate history

2011

In April 2011, Malaysia's Prime Minister, Dato' Sri Najib Razak announces that Asia Media will invest RM500 million in developing the 1st Digital Live Transit-TV Broadcasting infrastructure in Malaysia during the 5th Economic Transformation Programme (ETP) update. This project is expected to generate RM604 million in Gross National Income and create 400 jobs by 2020.

In March 2011, Dato' Ricky Wong, CEO of Asia Media Group announce its plan to expand its services to Singapore by year-end. Asia Media Group is planning to invest at least RM30 million to expand its digital-TV transit business across the causeway by year-end. Besides Singapore, Asia Media Group is also interested in venturing to Indonesia next year.

In February 2011, Dato' Ricky Wong, CEO and founder of Asia Media, was listed in this year's Top 10 ACE Market millionaires list by Malaysian Business magazine in its February 2011 issue.

On 11 January 2011, Asia Media Group made a strong debut on the ACE Market opening at 40 sen, up 74% from its offer price of 23 sen. Subsequently, it closed at 28.5 sen, up 24% from its offer price with 40.92 million shares done.

In January 2011, Asia Media Group, the parent company of Asia Media, a digital out-of-home Transit-TV company, saw the public portion of its initial public offering (IPO) oversubscribed by 21.46 times. The company is en route to being listed on the Ace Market of Bursa Malaysia on January 11, 2011.

2010

In December 2010, Asia Media Group, the parent company of Asia Media, is expected to raise RM23 million en route to a listing on the Ace Market of Bursa Malaysia soon.

In September 2010, Dato' Ricky Wong was announced as the top 3 winner in the worldwide JCI - Creative Young Entrepreneur Award 2010.

In August 2010, Asia Media's CEO Dato' Ricky Wong was awarded the Malaysia JCI - Creative Young Entrepreneur Award 2010.

In July 2010, Asia Media's CEO Dato' Ricky Wong picked up Asia Pacific Entrepreneurship Awards (APEA) 2010 under the category of the Most Promising Entrepreneur Awards.

In June 2010, Malaysian Communications and Multimedia Commission (MCMC) has awarded three (3) blocks of L-Band Spectrums, i.e. 1452.960, 1454.672 & 1456.384 MHz respectively to Asia Media.

In April 2010, Asia Media was awarded Three (3) licences from Malaysian Communications and Multimedia Commission (MCMC). They are Network Facilities Providers (NFP Individual), Network Services Providers (NSP Individual) and Content Applications Services Providers (CASP Individual) licenses.

In March 2010, Asia Media featured at the ABU Digital Broadcasting Symposium. Minister of Information, Communication and Culture, Y.B. Dato' Seri Utama Dr. Rais Yatim attended the event.

In January 2010, Asia Media won the SME BrandLaureate Award.

2009

September 2009, Asia Media announced plans to be the first company in Malaysia to deploy Digital Video Broadcasting (DVB) for Transit-TV. The company’s DVB roll-out for Klang Valley is scheduled to be completed by 2010 and extended to Johor Bahru & Penang by 2011.

In September 2009, Asia Media announced plans to start Live Digital Video Broadcasting (DVB) in 2010.

August 2009, Asia Media CEO Dato' Ricky Wong was awarded the 2009 Top 10 Creative Young Entrepreneur Award by Malaysia's Junior Chamber International for the second year running.

Asia Media and The Star (Malaysia)'s Largest Daily Circulating newspaper announced a Joint Media Collaboration in August 2009.

July 2009, Asia Media's CEO Dato' Ricky Wong picked up the 8th Asia Pacific International Entrepreneur Excellence Award 2009 under the category of Leadership Excellence.

In June 2009, Asia Media was awarded the SME100 : Malaysia's Fast Moving Companies Award.

In February 2009, Asia Media TV Network was officially launched.

2008

In December 2008, Asia Media was awarded The SME Rising Star Award 2008 by SMI Association of Malaysia.

In October 2008, Asia Media won the best start-up company award by MSC Malaysia and AMTV was certified by the Malaysia Book of Records as "The Biggest Transit-TV Network".

September 2008, Installation of Transit-TV completed for 250 Causeway Link buses.

August 2008, Asia Media's CEO Dato' Ricky Wong received the JCI Creative Young Entrepreneur Award 2008 from Malaysia's Junior Chamber International.

June 2008, Asia Media acquired Transit Vision Holdings Sdn Bhd that operates LCD-TV screens in 200 luxury coaches of Konsortium Transnasional Berhad (Plusliner and Nice++ Express Fleets). Transit Vision Holdings Sdn Bhd was subsequently renamed as Transnet Express Sdn Bhd and operates under the brand of Transnet Ex.

May 2008, Asia Media was awarded the concession to operate Transit-TV in 250 Causeway Link stage buses in Johor Bahru owned by Handal Indah Sdn Bhd, the largest bus operator company in Johor and the only Malaysian company serving the Malaysian-Singapore Causeway.

February 2008, Transit-TV installation completed for the entire fleet of 1,050 RapidKL buses.

January 2008, Official launch of Transnet KL Transit-TV at Sime Darby Convention Centre.

2007

October 2007, Asia Media was awarded MSC status by the Multimedia Development Corporation of Malaysia.

September 2007, Asia Media was awarded the concession in a deal worth RM 200 million (USD $62.5 million) to operate the Transit-TV system in 1,050 RapidKL stage buses, the largest integrated public transport company owned by the Ministry of Finance, Malaysia.

Corporate Social Responsibility Initiatives

Asia Media is regularly involved in community projects and the company's Corporate Social Responsibility initiatives include:

Crime Prevention Programs – Asia Media with Royal Malaysian Police has infused crime prevention programs that are aimed at informing and educating the public on safety procedures whilst in the home, travelling to and fro from work. Asia Media will also be co-producing programs and bulletins on missing persons and wanted persons and a most wanted list will be periodically released.

:In January 2008, details of a local girl – Sharlinie Mohd Nashar – who went missing were flashed on Asia Media Transit-TV screens, with around 12 million commuters a month seeing the alerts. (The five-year-old remains missing.)

Public Announcements - Asia Media also works with several ministries and non-governmental organisations to give free public announcements through Asia Media Transit-TV.

Airtime Sponsorship of Environmental Conservation Causes – Asia Media collaborates with various non-for-profit organizations to raise awareness and spread the word on environmental conservation via Asia Media Transit-TV screens. Reef Check Malaysia produced a short video-clip that was aired on the buses servicing around Klang Valley in December 2009. Airtime was sponsored by Asia Media in an effort to raise awareness of Coral Reef Conservation.

Youth Entrepreneurship – Asia Media assist youths by taking part in speaking opportunities, sharing advice, comments and journeys; as well as collaborate with youth organizations to help create initiatives that encourage entrepreneurship, creativity and innovation.

See also

Focus Media Holding

RoadShow

References

Category:Media companies of Malaysia

Name	Gerald Celente
Birth date	November 29, 1946
Birth place	The Bronx, New York City, New York, U.S.
Occupation	Trend forecaster
Nationality	American
Ethnicity	White
Parents	}}

Gerald Celente (born November 29, 1946) is an American trend forecaster, publisher of the ''Trends Journal'', business consultant and author who makes predictions about the global financial markets and other events of historical importance. Celente has described himself as a "political atheist" and "citizen of the world". He has appeared as a guest on television news shows such as ''The Oprah Winfrey Show'', ''The Today Show'', ''Good Morning America'', ''CBS Morning News'', ''The Glenn Beck Show'', ''NBC Nightly News'', ''The Alex Jones Show'', ''The Jeff Rense Show'' and ''Russia Today''.''

Background

Celente was born in The Bronx, New York City, New York. He had early political experience running a mayoral campaign in Yonkers, New York and served as executive assistant to the secretary of the New York State Senate, which Celente called the worst job he ever had. From 1973 to 1979 Celente traveled between Chicago and Washington D.C. as a government affairs specialist. In 1980 Celente founded The Trends Research Institute (at first called the Socio-Economic Research Institute of America), now located in Kingston, New York, publisher of the ''Trends Journal'' which forecasts and analyzes business, socioeconomic, political, and other trends.

Forecasting

His forecasts since 1993 have included predictions about terrorism, economic collapses and war. More recent forecasts involve fascism in the United States, food riots and tax revolts. Celente has long predicted global anti-Americanism, a failing economy and immigration woes in the U.S. In December 2007 Celente wrote, "Failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities ... whatever the spark, the stage is set for panic in the streets" and "Just as the Twin Towers collapsed from the top down, so too will the U.S. economy ... when the giant firms fall, they’ll crush the man on the street." He has also predicted tax revolts. In November 2008 Celente appeared on Fox Business Network and predicted economic depression, tax rebellions and food riots in the United States by 2012. Celente also predicted an "economic 9/11" and a "panic of 2008."

In 2009 Celente predicted turmoil which he described as "Obamageddon" and he was a popular guest on conservative cable-TV shows such as ''Fox News Sunday'' and Glenn Beck's television program. In April 2009 Celente wrote, "Wall Street controls our financial lives; the media manipulates our minds. These systems cannot be changed from within. There is no alternative. Without a revolution, these institutions will bankrupt the country, keep fighting failed wars, start new ones, and hold us in perpetual intellectual subjugation." He appeared on the ''Glenn Beck'' show and criticized the U.S. stimulus plan of 2009, calling government controlled capitalism "fascism" and saying shopping malls in the U.S. would become "ghost malls." Celente has said, "smaller communities, the smaller groups, the smaller states, the more self-sustaining communities, will 'weather the crisis in style' as big cities and hypertrophic suburbias descend into misery and conflict," and forecasts "a downsizing of America."

Revolution in the USA

On Russia Today, he predicted that the USA would face a revolution.

Neosurvivalism

Celente's website has stated that:

Predictions

2009

"The Crash of '09 was as dramatic as the crash of '29. The New Depression had begun." (Trends Journal, Summer 2008, pg. 12)

2010

Some areas of the U.S. are experiencing resurgences in real estate values due to highly localized factors, and some investors profit from this. However, the rises will almost all stop and reverse with time, and the overall national trend in real estate values is downward. (T.J. Summer 08, pg. 8)

Ghost malls have become a common sight across America. Especially hard-hit are big chain stores (Sears, Home Depot, etc.). (T.J. Summer 08, pg. 8)

2012

The economic policies of the U.S. government over the past few years have failed to fix America's fundamental problems and have merely papered over them and in fact made them worse. By 2012, the "American Empire" is collapsing. In the U.S., basic staple goods like quality food and water are too expensive for most people to afford,(T.J. Summer 08, pg. 1) and "food riots" happen across the country (T.J. Summer 09, pg.1). Major American cities look like disaster zones, and mass homelessness exists across the country. Crime is rampant, with much of it being directed at the rich. (T.J. Summer 08, pg. 1) Kidnappings and ransomings of rich people are on the rise. Average people fed up with big government, high taxes and out-of-control spending join tax revolts. (T.J. Summer 09, pg. 1) The world is also experiencing major environmental problems and "the blackest of plagues." The global financial system has also "melted down" and the situation is very bad outside the U.S.(T.J. Summer 08, pg. 1) The advanced industrial economies collapse first, and their sagging consumer spending drags down the export-based economies of emerging economies next.(T.J. Summer 09, pg. 2) The economy is as bad as it was during the Great Depression in many ways. In spite of all this, the U.S. government, power elites, and mainstream media continue to insist that the fundamentals of the world economy are sound, and that official policies can lead to a recovery. A growing number of average people, however, doubt this. (T.J. Summer 08, pg. 1)

While the Mayan and Hopi prophecies of global destruction do not come to pass, 2012 is indeed a watershed year that sees the death of an ailing and unsustainable global economic system and lifestyle and its replacement with something better. (T.J. Summer 08, pg. 2)

By 2012, Obama is viewed by most as a stale president who sold himself as a fresh, visionary candidate in 2008 and instead proved to be a servant of the big corporations and the military-industrial complex like his predecessors.(T.J. Summer 09, pg. 5) His economic policies only delayed disaster and in fact have made the situation worse: Expansionary monetary policy and the various government bailouts and stimulus programs create a "Bailout Bubble" that invariably bursts in a cataclysm for the U.S. and world economy.(T.J. Summer 09, pg. 11) Obama blames other factors for this and might have even tried to start a war by 2012 to distract attention from the domestic misery.(T.J. Summer 09, pg. 12) Obama's foreign policy has also failed to accomplish anything significant on the world stage, and Pakistan is a mess and the Afghan war continues to drag on without hope of conclusion.(T.J. Summer 09, pg. 12)

In the 2012 U.S. elections, online news sites, bloggers and independent journalists wield as much influence on voters as mainstream media outlets (TV, cable, magazines, newspapers) for the first time. This breaks the corporate and moneyed stranglehold on American politics and allows a third party to attain nation-level recognition. (T.J. Summer 08, pg. 5)

Broad future trends

Americans will adapt to lower standards of living and will travel less, both on a daily basis and for vacations. Higher fuel costs, advances in telecommuting and an aging American population will push many more people to work from home or close to home. Walking-distance communities will be constructed and will become popular. (T.J. Summer 08, pg. 7)

Geographically isolated resort destinations like Las Vegas will wither due to higher fuel costs, lower American incomes and increased overseas competition while vacation spots closer to population centers will revive. (T.J. Summer 08, pg. 9)

Government-run lotteries, on the other hand, will thrive. (T.J. Summer 08, pg. 9)

In America and to a lesser extent overseas, consumer spending habits will be motivated out of fear and escapism. Businesses that capitalize upon this will succeed. (T.J. Summer 09, pg. 24)

Publications

''Trend Tracking: The System to Profit from Today's Trends'' (1991), ISBN 978-0446392877

''Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century'' (1997), ISBN 978-0446519014 (This book was a national best seller)

''What Zizi Gave Honeyboy: A True Story about Love, Wisdom, and the Soul of America'' (2002), ISBN 978-0066212661

References

External links

trendsresearch.com

geraldcelente.com

Category:1946 births Category:Living people Category:American economics writers Category:Futurologists Category:People from the Bronx Category:People from New York City

de:Gerald Celente fr:Gerald Celente pl:Gerald Celente sv:Gerald Celente

Forbes list of billionaires is based on an annual assessment of wealth and assets compiled and published by ''Forbes'' magazine on March 10, 2011.

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Forbes list of billionaires (2011)

The following list is Forbes ranking of an assessment of the wealth and assets of the world's billionaires as of March 10, 2011, and does not reflect changes since then. There are 1,210 names in this year’s list.

Legend
! Icon	! Description
	Has increased from the list for 2010.
	Has decreased from the list for 2010.

style="text-align:center;"Sheldon AdelsonDavid Thomson, 3rd Baron Thomson of FleetCharles G. KochDavid H. KochJim Walton

No.	! Name	! Net worth (USD)	! Age	! Born	! Citizenship	Home>Residence	! Source(s) of wealth
style="text-align:center;"		and family	$74.0 billion ||	71				Telmex, América Móvil, Grupo Carso
style="text-align:center;"		|	$56.0 billion	55				Microsoft
style="text-align:center;"		|	$50.0 billion	80				Berkshire Hathaway
style="text-align:center;"		|	$41.0 billion	62				LVMH>LVMH Moët Hennessy • Louis Vuitton
style="text-align:center;"		|	$39.5 billion	66				Oracle Corporation
style="text-align:center;"		|	$31.1 billion	60				Arcelor Mittal
style="text-align:center;"		|	$31.0 billion	74				Inditex Group
style="text-align:center;"		|	$30.0 billion	53				EBX Group
style="text-align:center;"		|	$27.0 billion	53				Reliance Industries
style="text-align:center;"		|	$26.5 billion	55				Walmart
style="text-align:center;"		|	$26.0 billion	82				Cheung Kong Holdings
style="text-align:center;"		|	$25.5 billion	91				Aldi>Aldi Süd
style="text-align:center;"		|	$24.5 billion	63				Hennes & Mauritz
style="text-align:center;"		|	$24.0 billion	54				Novolipetsk Steel
style="text-align:center;"		|	$23.5 billion	88				L'Oréal
style="text-align:center;"		|	$23.3 billion	77				Las Vegas Sands
style="text-align:center;"		David Thomson and family||	$23 billion	53				Thomson Reuters
style="text-align:center;"		|	$22 billion	75				Koch Industries
style="text-align:center;"		|	$22 billion	71				Koch Industries
style="text-align:center;"		|	$21.3 billion	63				Walmart

References

See also

List of members of the Forbes 400 (2010)

External links

Forbes: Billionaires in the News

* Category:Lists of people by magazine appearance Category:Lists of people by wealth

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Name	Khurshid Mahud Kasuri
Order	26th Foreign Minister of Pakistan
Term start	November 23, 2002
Term end	November 15, 2007
Predecessor	Abdul Sattar
Successor	Inam-ul-Haq
Birth date	June 18, 1941
Birth place	Lahore, British India present-day Pakistan
Party	Pakistan Muslim League (Q)
Alma mater	Punjab UniversityGovernment College UniversityCambridge UniversityOxford UniversitySorbonne UniversityUniversity of Nice
Religion	Suni Islam }}

Mian Khurshid Mahmood Kasuri (born 1941) is a Pakistani politician and diplomat. He was the Foreign Minister of Pakistan from 2002 to 2007.

Family background

Khurshid M. Kasuri belongs to one of the old political families of Pakistan. He comes from a well-known political family of Punjab; his grandfather Maulana Abdul Qadir Kasuri was a leader of the Indian National Congress and his father Mahmud Ali Kasuri was also in the Congress (until 1940) and was sentenced in 1930 to four months' imprisonment. Mahmud Kasuri was briefly a member of Z.A. Bhutto's Cabinet. His father, the late Mian Mahmud Ali Kasuri, was also a member of the Federal Cabinet.

He is the grandson of the late Maulana Abdul Qadir Kasuri who was one of the leading lawyers of the day as well as a valiant freedom fighter against the British colonial rule in the sub-continent. The late Maulana was one of the leaders of the Khilafat and independence movements and remained in prison for many years because of his opposition to British colonial rule. His father, Mian Mahmud Ali Kasuri, and his uncles, the late Maulana Mohammad Ali Kasuri, who was a triple first mathematics wrangler from Cambridge and Maulana Mohyuddin Kasuri, also took active part in the freedom movement. They were arrested on numerous occasions during the independence movement. His father, the late Mian Mahmud Ali Kasuri, was one of the top lawyers and politicians of the country and was widely regarded as the father of the human rights movement in Pakistan . He was one of the few politicians in the country to give up high office on a point of principle when he resigned as Federal Minister for Law and Parliamentary Affairs and Deputy Leader of the National Assembly due to differences on political and constitutional matters with the then government. Mian Mahmud Ali Kasuri's contribution towards the framing of the original 1973 Constitution is widely acknowledged.

Academic

Throughout his academic career he had a uniformly excellent record, which culminated in his topping in the B.A (Hons) Examination of the Punjab University in 1961. At the Government College, he was awarded many academic prizes and Rolls of Honour. After completing his education at home, he proceeded abroad for higher studies. He did his tripos in Law from Cambridge University. After Cambridge he was admitted to Oxford University for post-graduate work in Public Administration and Political Science. He took French Civilization courses at the Sorbonne University in Paris and the University of Nice in France. He was called to the Bar from Gray's Inn, London. On a lecture tour of the United States, he lectured at leading American Universities in their South Asian and Political Science Faculties. He was also the author of a report for the Government of Pakistan on how Pakistan studies could be promoted at American Universities; large parts of his report were implemented by the government.

Political career

Early career

Immediately on his return from abroad after completing his higher education, he started his political career by taking an active part in the political movement launched by the combined opposition parties during the days of Field Marshal Muhammad Ayub Khan for the restoration of democracy. The Pakistan government sent Mian Khurshid Mahmud Kasuri on official assignments to UK and U.S.A. in 1972 to represent Pakistan 's point of view on issues of concern to Pakistan following the Bangladesh tragedy.

He entered politics at an early age and joined the Tehrik-e-Istiqlal. He is the former Secretary General of the Tehrik-e-Istiqlal. He has been arrested on innumerable occasions during his long political career in the struggle for democracy. After the government of General Zia-ul-Haq went back on its promise to hold general elections in the country, leading political parties got together under the banner of the MRD for the purpose of holding general elections, restoration of fundamental rights of the citizens, removal of restrictions placed on the free functioning of the press and the establishment of an independent judiciary. He was arrested on numerous occasions for taking part in a movement launched by the political parties in February 1981 for the achievement of the above objectives. Earlier, he was also arrested during the PNA Movement.

After the formation of the Peoples Democratic Alliance prior to the 1990 elections, Mian Khurshid Mahmud Kasuri was unanimously elected as the first Secretary General of the PDA. The PDA was then the main opposition alliance in Pakistan and it consisted of the Pakistan Peoples Party, the Tehrik-e-Istiqlal, the Nifaz-e-Fiqah-e-Jaferia, the Pakistan Muslim League (Qasim group) and the Pukhtoonkhawa Qoumi Party. He was appointed Federal Minister for Parliamentary Affairs in the interim government of Prime Minister Mir Balakh Sher Mazari. He represented the Tehrik-e-Istiqlal in that government.

1993-Present

Just prior to the 1993 elections, the PDA broke up and the Tehrik-e-Istiqlal left the PDA and entered into an alliance with the Pakistan Muslim League. He was the Vice President of the Pakistan Muslim League. In the 1997 elections he was elected to the National Assembly from Kasur (NA-106) on PML (N) ticket.

In the 2002 elections, he changed his party affiliation to PML (Q) and won a seat from NA-140 Kasur. He was the Chairman of the National Assembly's Standing Committee on ''Information and Media Development'' and was also a member of the National Assembly's Standing Committee on ''Foreign Relations''.

Mian Khurshid Mahmud Kasuri is one of the few members of the Pakistan Muslim League, Quaid-e-Azam PML(Q) and the Central Working Committee who always expressed his views on all the national issues frankly and fearlessly regardless of whether the government of the day liked his views or not. For example, his views during the judicial crisis, on the issue of the impeachment of the former President Farooq Ahmed Khan Leghari and on the Fourteenth Amendment to the Constitution of Pakistan and Fifteenth Amendment to the Constitution of Pakistan were expressed very strongly and were covered and commented upon extensively by the media at that time. The 15th Amendment, particularly as originally presented, was strongly objected to by him. It was primarily due to his efforts and that of some of his colleagues that the government had to make an amendment in the original Bill, which contained provisions, which were highly detrimental to the federal and democratic structure of the Constitution including provisions relating to making amendments in the Constitution. He was so determined not to let the bill pass in its original shape that he threatened to resign unless the bill was amended (in fact he did resign – the resignation was torn up in a stormy meeting of the Parliamentary party by other parliamentarians).

Official/Diplomatic Missions (prior to appointment as Foreign Minister)

Prior to his appointment as Foreign Minister he had represented Pakistan on different occasions. As early as 1972, on an official visit to the United States of America, he represented Pakistan in talks with the Administration.

Mian Khurshid Mahmud Kasuri visited the People's Republic of China as a member of the Pakistan Muslim League's delegation in 1996. This delegation was invited by the Communist Party of China and was received by the top leadership of the Party. He has also attended the International Parliamentary Union Conferences held in Seoul and in Cairo in 1997 as a member of the Pakistan Parliamentary Delegations.

He was sent as the Prime Minister's Special Envoy to various important countries to explain Pakistan 's point of view on the important developments in 1998 and 1999.

2008 election

In the February 2008 parliamentary election, Kasuri ran for a National Assembly seat from NA 140 Kasur III, where he was defeated by the PPPP candidate, Sardar Asif Ahmed Ali

References

Category:Living people Category:1941 births Category:People from Punjab (Pakistan) Category:Pakistan Muslim League (Q) politicians Category:Pakistani lawyers Category:Foreign Ministers of Pakistan Category:University of Paris alumni Category:Alumni of the University of Oxford Category:Alumni of the University of Cambridge

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