Despite a trading update recording lower sales in South Africa and the US, SABMiller, one of the world’s biggest brewers, was given a kicker by its new $7,8 billion acquisition based in Bogotá, Colombia, feared by some investors for its cocaine-trading militias, FARC and AUC. In its trading update for the three months to 31 December 2005, SABMiller said its South America lager volumes were up 7% above the prior year, in line with expectations when the acquisition of Bavaria closed on 12 October 2005. Bavaria, or Grupo Empresarial Bavaria, was seen as an attractive acquisition target for any major brewer, given its solid home market in Colombia. Since 2001, Bavaria had taken expansionist steps, raising $1,5-bn in debt to finance forays into Peru, Ecuador and other countries on the continent. The group bought 92% of Cerveceria Nacional in Panama, and a big chunk of Backus in Peru.Excluding volumes for Bavaria, as too new an acquisition, SABMiller reported group organic lager volume growth for its third 2006 quarter at 1,8% up, and 4,5% up for the year-to-date. Volumes were constrained ed by cool and wet weather during December in South Africa, and in the US, Miller's third quarter domestic sales to retailers were 1% below prior year comparable figures. In London, where SABMiller holds its primary listing, investors largely shrugged off the apparently lackluster trading update, marking the stock down 20 pence to 1095 pence a share. The price was down by a similar proportion in Johannesburg. Earlier this year, the stock hit a lifetime record of 1 136 pence, not least on a research note from CSFB on global equity strategy advising high exposure to emerging market consumers. CSFB said emerging market discretionary consumption growth could be as high as 10% a year on a trend basis. SAB Miller, Diageo, Unilever, Nestle, InBev and Nokia were noted as enjoying more than 25% revenue from emerging market consumers.Wednesday’s reaction to SABMiller’s trading update was generally positive. One trader said the figures were as expected, adding that the US news was potentially negative, given the apparent loss of market share to Anheuser-Busch, proud parent of the almighty Budweiser brand.Investment analysts at WestLB maintained SABMiller at ‘neutral’ following analysis of the trading update. SABMiller’s organic lager volume growth declined sharply from 5,6% at the first-half stage, to 1,8% in its third quarter, producing a nine-month rate of 4,5%. This, said WestLB, was ‘still ahead of our full year volume growth forecast of 3,8%’. The analysts added that one quarter of weaker volumes due to poor weather in South Africa ‘is not a fundamental change in the business’s quality’.In its reaction, Goldman Sachs maintained its ‘outperform’ rating on the stock, commenting that Miller was in fact ‘slightly better than we had expected’. Goldman Sachs says that SABMiller remains one of its preferred stocks within the beverages sector. Ahead of the trading update, Deutsche Bank said that ‘in many respects’, 2005 in the global beverages sector was a mirror image of 2004. The sector modestly outperformed, driven by InBev, Pernod Ricard and SABMiller. Deutsche Bank says ‘consistent out performance’ of the three mentioned stocks ‘reflects their geographic balance and successful corporate activity’. The three remain the preferred stocks.A number of professional investment analysts have made the case that SABMiller is not only a premium business, but that it also deserves a premium rating. Calculations on the stocks’ forward earnings profile indicate a 2006 price-to-earnings ratio of about 14.5 times. This puts SABMiller at roughly a 10% discount to its global peer group, which, beyond Anheuser-Busch and InBev includes Diageo and Heineken. For South African investors, SABMiller offers an entry into a global business that’s well hedged against changes and variations in currency values, weather patterns, and many other risks. With brewing or distribution agreements in over 60 countries across five continents, SABMiller offers one of the widest geographic profiles, thus optimizing geo-political risk. In its latest reporting period, the six months to 30 September 2005, Europe was SABMiller’s single major contributor at the earnings before interest, tax, depreciation and amortisation (EBITDA). The segment contributed $379m of a total EBITDA of $1264m. This was followed by South Africa (beverages) at $375m, North America at $286-m, Africa and Asia at $209m, South Africa (hotels and gaming) at $38m, and Central America at $32m. Going forward, the group profits profile will change as the impact of the Bavaria acquisition takes effect.
http://www.moneyweb.co.za/education/investment_insights/821169.htm
Thursday, January 19, 2006
Brazil's Bovespa Rises to Record Led by Petrobras: Latin Stocks
Jan. 19 (Bloomberg) -- Brazil's benchmark stock index rose to a record, its first gain in three days, after the central bank made the biggest cut in two years in the benchmark interest rate.
The Bovespa index of the 57 most traded shares of the Sao Paulo stock exchange rose 1,053, or 2.9 percent, to 36,858.19. Petroleo Brasileiro SA, the state-controlled oil company which is known as Petrobras, led the gain. Elsewhere in the region, the Mexican Bolsa rose 202.04, or 1.1 percent, to 18,468 as of 3:15 p.m. New York time.
Brazil's central bank decision yesterday to cut benchmark lending rate by 0.75 percentage point, to a 13-month low of 17.25 percent, spurred the Bovespa, said Alexandre Povoa, who helps manage 500 million reais of stocks and bonds for Modal Asset Management in Rio de Janeiro. The reduction, in line with the median forecast in a Bloomberg survey of 33 economists, was bigger than the half-point cuts at the past three policy meetings.
``What matters for the stock market is the continuing process of rate cuts,'' Povoa said in a phone interview.
Policy makers began reversing rate increases in September, bringing the benchmark rate down from a two-year high of 19.75 percent, as inflation eased. Even after five reductions, Brazil's 17.25 percent benchmark rate remains among the highest in the world.
Most Latin American markets rose today, following Japan's Topix index, which had the biggest rally in 20 months, rebounding from a three-day slide that cut almost $400 billion in value from the market.
The Morgan Stanley Capital International index of Latin American stocks rose 2.6 percent to 2350.84, the biggest increase since Jan. 3.
``It reflects confidence from abroad,'' Pedro Bastos, who helps manage about 33 billion reais ($14.2 billion) in assets at Unibanco Asset Management, said in a phone interview from his office in Sao Paulo. ``There was concern that it could be the start of a declining trend, but that wasn't the case.''
In Argentina, the Merval index rose for a third day led by Tenaris SA, the world's biggest maker of seamless steel pipes for the oil industry, after Morgan Stanley raised its recommendation on the stock. The index rose 55.66, or 3.4 percent, to 1701.18, the highest level since Oct. 3.
Christian Audi, an analyst at Morgan Stanley, raised Tenaris shares in the U.S. to ``overweight/attractive'' from ``equal- weight/in-line''
``Merval is very concentrated in a few companies, and the upgrade by Morgan Stanley led investors to buy Tenaris, dragging the entire index,'' said Hernan Fardi, an equity analyst at Maxinver, in Buenos Aires.
The main indexes in Chile, Venezuela and Peru also rose, while Colombia's IGBC index fell.
The following stocks made significant gains or losses in Latin American markets today. Symbols are in parentheses after the company name.
Brazil
Petrobras (PETR4 BS) rose 1.32 reais, or 3.1 percent, to 43.70 reais, after falling 2.5 percent in the past two sessions.
``Petrobras is an excellent investment,'' Povoa said. ``The oil and iron-ore businesses are still the best options in the Brazilian stock market.''
Cia. Vale do Rio Doce (VALE5 BS), the world's largest iron-ore producer, rose 2.73 reais, or 3 percent, to 94.93 reais. China's iron ore imports may rise 16 percent this year to 320 million metric tons as steelmakers boost production capacity, the China Metallurgical and Mining Association said. Soaring Chinese demand helped contract iron ore prices jump a record 71.5 percent last year, boosting profit at Vale and others iron-ore producers.
Caemi Mineracao e Metalurgia (CMET4 BS), a unit of Vale, rose 12 centavos, or 3.2 percent, to 3.93 reais.
Empresa Brasileira de Aeronautica (EMBR4 BS), or Embraer, the world's fourth largest aircraft maker, rose 57 centavos, or 2.5 percent, to 23.82 reais. Harbin Embraer Aircraft Industry Co., a joint venture between Embraer and state-owned China Aviation Industry Corp. II, said it will sell five ERJ145 planes to China Eastern Airlines Corp.
The sale is ``positive'' for Embraer, after it reported lower-than-expected delivery figures in fourth quarter and 2005, and didn't change its forecast of 145 deliveries in 2006, Daniela Bretthauer, an analyst with Santander Investment Securities Inc., wrote in a report.
Gerdau SA (GGBR4 BS), Latin America's largest steelmaker, rose 1.70 reais, or 4.3 percent, to 41.50 reais. Local shipments of long rolled steel products rose 9.5 percent in December from a year earlier, the national steelmaker association said yesterday. Local demand will keep improving as interest rates fall, mortgage lending increases and the elections lead to government spending, Jander Medeiros, an analyst with Banco Pactual SA, wrote in a report.
Medeiros' only ``top pick'' in the sector is Gerdau.
Argentina
Tenaris SA (TS AR) rose 4.20 pesos, or 10 percent, to 45.20 pesos, a record high.
Mexico
America Movil (AMXL MM), Latin America's biggest mobile telephone company, rose 28 centavos, or 1.7 percent, to 17.17 pesos. America Movil, which has climbed almost 80 percent in the last 12 months, had fallen 4.9 percent on Jan. 17.
Carso Global Telecom SA de CV (TELECOA1 MM), the company that controls Telefonos de Mexico SA, rose 55 centavos, or 2.2 percent, to 24.95 pesos. The shares had fallen 8.4 percent in the previous two sessions. Telmex (TELMEXL MM), Latin America's largest fixed- line phone company, rose 8 centavos, or 0.6 percent, to 12.78 pesos.
Chile
Enersis SA (ENERSIS CC), South America's second-largest energy company, rose 1.93 pesos, or 1.6 percent, to 120. The company will release its fourth quarter earnings on Jan. 27.
To contact the reporter on this story:
Telma Marotto at at tmarotto1@bloomberg.net;
http://www.bloomberg.com/apps/news?pid=10000086&sid=azgjoxO32nHw&refer=latin_america
The Bovespa index of the 57 most traded shares of the Sao Paulo stock exchange rose 1,053, or 2.9 percent, to 36,858.19. Petroleo Brasileiro SA, the state-controlled oil company which is known as Petrobras, led the gain. Elsewhere in the region, the Mexican Bolsa rose 202.04, or 1.1 percent, to 18,468 as of 3:15 p.m. New York time.
Brazil's central bank decision yesterday to cut benchmark lending rate by 0.75 percentage point, to a 13-month low of 17.25 percent, spurred the Bovespa, said Alexandre Povoa, who helps manage 500 million reais of stocks and bonds for Modal Asset Management in Rio de Janeiro. The reduction, in line with the median forecast in a Bloomberg survey of 33 economists, was bigger than the half-point cuts at the past three policy meetings.
``What matters for the stock market is the continuing process of rate cuts,'' Povoa said in a phone interview.
Policy makers began reversing rate increases in September, bringing the benchmark rate down from a two-year high of 19.75 percent, as inflation eased. Even after five reductions, Brazil's 17.25 percent benchmark rate remains among the highest in the world.
Most Latin American markets rose today, following Japan's Topix index, which had the biggest rally in 20 months, rebounding from a three-day slide that cut almost $400 billion in value from the market.
The Morgan Stanley Capital International index of Latin American stocks rose 2.6 percent to 2350.84, the biggest increase since Jan. 3.
``It reflects confidence from abroad,'' Pedro Bastos, who helps manage about 33 billion reais ($14.2 billion) in assets at Unibanco Asset Management, said in a phone interview from his office in Sao Paulo. ``There was concern that it could be the start of a declining trend, but that wasn't the case.''
In Argentina, the Merval index rose for a third day led by Tenaris SA, the world's biggest maker of seamless steel pipes for the oil industry, after Morgan Stanley raised its recommendation on the stock. The index rose 55.66, or 3.4 percent, to 1701.18, the highest level since Oct. 3.
Christian Audi, an analyst at Morgan Stanley, raised Tenaris shares in the U.S. to ``overweight/attractive'' from ``equal- weight/in-line''
``Merval is very concentrated in a few companies, and the upgrade by Morgan Stanley led investors to buy Tenaris, dragging the entire index,'' said Hernan Fardi, an equity analyst at Maxinver, in Buenos Aires.
The main indexes in Chile, Venezuela and Peru also rose, while Colombia's IGBC index fell.
The following stocks made significant gains or losses in Latin American markets today. Symbols are in parentheses after the company name.
Brazil
Petrobras (PETR4 BS) rose 1.32 reais, or 3.1 percent, to 43.70 reais, after falling 2.5 percent in the past two sessions.
``Petrobras is an excellent investment,'' Povoa said. ``The oil and iron-ore businesses are still the best options in the Brazilian stock market.''
Cia. Vale do Rio Doce (VALE5 BS), the world's largest iron-ore producer, rose 2.73 reais, or 3 percent, to 94.93 reais. China's iron ore imports may rise 16 percent this year to 320 million metric tons as steelmakers boost production capacity, the China Metallurgical and Mining Association said. Soaring Chinese demand helped contract iron ore prices jump a record 71.5 percent last year, boosting profit at Vale and others iron-ore producers.
Caemi Mineracao e Metalurgia (CMET4 BS), a unit of Vale, rose 12 centavos, or 3.2 percent, to 3.93 reais.
Empresa Brasileira de Aeronautica (EMBR4 BS), or Embraer, the world's fourth largest aircraft maker, rose 57 centavos, or 2.5 percent, to 23.82 reais. Harbin Embraer Aircraft Industry Co., a joint venture between Embraer and state-owned China Aviation Industry Corp. II, said it will sell five ERJ145 planes to China Eastern Airlines Corp.
The sale is ``positive'' for Embraer, after it reported lower-than-expected delivery figures in fourth quarter and 2005, and didn't change its forecast of 145 deliveries in 2006, Daniela Bretthauer, an analyst with Santander Investment Securities Inc., wrote in a report.
Gerdau SA (GGBR4 BS), Latin America's largest steelmaker, rose 1.70 reais, or 4.3 percent, to 41.50 reais. Local shipments of long rolled steel products rose 9.5 percent in December from a year earlier, the national steelmaker association said yesterday. Local demand will keep improving as interest rates fall, mortgage lending increases and the elections lead to government spending, Jander Medeiros, an analyst with Banco Pactual SA, wrote in a report.
Medeiros' only ``top pick'' in the sector is Gerdau.
Argentina
Tenaris SA (TS AR) rose 4.20 pesos, or 10 percent, to 45.20 pesos, a record high.
Mexico
America Movil (AMXL MM), Latin America's biggest mobile telephone company, rose 28 centavos, or 1.7 percent, to 17.17 pesos. America Movil, which has climbed almost 80 percent in the last 12 months, had fallen 4.9 percent on Jan. 17.
Carso Global Telecom SA de CV (TELECOA1 MM), the company that controls Telefonos de Mexico SA, rose 55 centavos, or 2.2 percent, to 24.95 pesos. The shares had fallen 8.4 percent in the previous two sessions. Telmex (TELMEXL MM), Latin America's largest fixed- line phone company, rose 8 centavos, or 0.6 percent, to 12.78 pesos.
Chile
Enersis SA (ENERSIS CC), South America's second-largest energy company, rose 1.93 pesos, or 1.6 percent, to 120. The company will release its fourth quarter earnings on Jan. 27.
To contact the reporter on this story:
Telma Marotto at at tmarotto1@bloomberg.net;
http://www.bloomberg.com/apps/news?pid=10000086&sid=azgjoxO32nHw&refer=latin_america
Appeal meets pastoral needs in Latin America
ROMEOVILLE—None of the streets are paved within the tiny town of Soritor in the midst of the expansive jungle region. For countless decades, the residents of the typical hamlet in northeastern Peru have endured violent bouts with armed terrorists as well as generations of poverty and hopelessness.
In the late 1990s, however, the members of the local Catholic faith community, San Felipe de Soritor, launched a special evangelization program aimed at revitalizing the moral and religious convictions of the people. A series of special retreats and formation programs were offered to young people and adults.
While many farmers are still harvesting coca, the raw material from which cocaine is produced, and local government officials are still turning a deaf ear to the desperate people, the efforts of those involved in the community’s evangelization program have worked to increase attendance at Sunday Masses by over 15 percent. In the bleak region, the resurgence of faith serves as a beacon of hope for the people.
The ongoing spiritual and evangelization effort in Soritor is made possible through a financial grant from an annual collection for the church in Latin America. The annual appeal is slated the weekend of Jan. 21-22 at Catholic parishes across the United States. The intent of the endeavor is to alleviate some of the burdens of poverty-stricken residents living in regions within Latin America, including countries in the Caribbean, Central America and South America.
Auxiliary Bishop John R. Manz of Chicago, the chairman of the United States Conference of Catholic Bishops’ Committee on the Church in Latin America, stated that the annual collection underscores the firm commitment of the United States bishops to the spiritual needs of the those living through desperate situations in poverty-ravaged and war-torn regions of Latin America “and the ever increasing solidarity the faithful in the United States have with the people of Latin America and the Caribbean.”
Members of the United States Conference of Catholic Bishops initiated the annual Collection for the Church in Latin America in 1966. The appeal works as a fund-raising vehicle, enabling faithful citizens of the United States to easily share their resources with those in desperate need in economically unstable Latin American countries, including El Salvador and Nicaragua, said Kevin Day, a spokesperson for the Secretariat for the Church in Latin America of the United States Conference of Catholic Bishops.
The theme of the 2006 collection is “One Church, One America.” According to Day, the theme is a direct response to Pope John Paul II’s 1999 apostolic exhortation, “The Church in America.” In that now historic plea, the celebrated pontiff urged all Catholics in North and South America “to take responsibility in compassion and solidarity for their brothers and sisters throughout the hemisphere.”
In 2004, the donations from Catholics from across the nation netted over $6 million, financially supporting nearly 500 projects in more than 200 dioceses throughout 21 Latin American countries, Day said. “These grants are pastoral in nature.” Under the supervision of local bishops, the proceeds from the appeal generally fund youth religious formation and evangelization initiatives as well as priestly, religious and lay formation programs in Latin American countries, including the Dominican Republic and Haiti in the Caribbean as well as Colombia and Paraguay in South America, he said.
The grants particularly sustain youth leadership and ministry programs as well as training for pastoral workers and catechists, said Day. Funds from the annual appeal are also allocated for sacramental preparation and missionary work in Latin American countries, he added.
“(The Joliet Diocese) has been very generous,” said Day during a telephone interview with the Catholic Explorer. For over five years, the people of the seven-county diocese have contributed over $150,000 per year to the appeal for religious programs and services for faithful people living in Latin America. “The goal is to help the Latin American church that is in poverty and respond to pastoral needs,” he said.
A total of $241,285 was donated from the people of the Diocese of Joliet last year, according to Bishop Joseph L. Imesch. In a letter distributed to the faithful of the sprawling diocese, the veteran diocesan leader lauded the various parishioners, religious and clergy for their commitment to the monetary appeal in recent years.
Bishop Imesch pointed out that that the majority of funds collected are earmarked for faith-based services for people in Latin America. Representatives of the Secretariat for the Church in Latin America allocate the grants across the various regions.
Meanwhile, a portion of the money donated by the faithful of the diocese support the missionary efforts of two priests originally from the Joliet Diocese currently serving in the impoverished region, Msgr. John Moriarty and Father Donald Kenny, according to Bishop Imesch. Msgr. Moriarty has dedicated nearly 40 years of his life to missionary service and currently helps meet the spiritual needs of the faithful in Guayaquil, Ecuador, while Father Kenny serves as pastor of Santa Cruz de Casitagua Parish northwest of Quito, Ecuador, within the Andes Mountains.
The remainder of the appeal contributions from people of the Joliet Diocese supplements the costs of biannual medical and construction mission experiences in Sucre, Bolivia, stated Bishop Imesch. These additional funds also offset expenses of the yearly university mission trip to Sucre for seminarians of the diocese as well as students of Lewis University in Romeoville, Benedictine University in Lisle and University of St. Francis in Joliet along with students involved in campus ministry from College of DuPage in Glen Ellyn, Elmhurst College, Joliet Junior College and North Central College in Naperville.
http://www.catholicexplorer.com/explore4325/atd/appeal-meets-pastoral-nee.shtml
In the late 1990s, however, the members of the local Catholic faith community, San Felipe de Soritor, launched a special evangelization program aimed at revitalizing the moral and religious convictions of the people. A series of special retreats and formation programs were offered to young people and adults.
While many farmers are still harvesting coca, the raw material from which cocaine is produced, and local government officials are still turning a deaf ear to the desperate people, the efforts of those involved in the community’s evangelization program have worked to increase attendance at Sunday Masses by over 15 percent. In the bleak region, the resurgence of faith serves as a beacon of hope for the people.
The ongoing spiritual and evangelization effort in Soritor is made possible through a financial grant from an annual collection for the church in Latin America. The annual appeal is slated the weekend of Jan. 21-22 at Catholic parishes across the United States. The intent of the endeavor is to alleviate some of the burdens of poverty-stricken residents living in regions within Latin America, including countries in the Caribbean, Central America and South America.
Auxiliary Bishop John R. Manz of Chicago, the chairman of the United States Conference of Catholic Bishops’ Committee on the Church in Latin America, stated that the annual collection underscores the firm commitment of the United States bishops to the spiritual needs of the those living through desperate situations in poverty-ravaged and war-torn regions of Latin America “and the ever increasing solidarity the faithful in the United States have with the people of Latin America and the Caribbean.”
Members of the United States Conference of Catholic Bishops initiated the annual Collection for the Church in Latin America in 1966. The appeal works as a fund-raising vehicle, enabling faithful citizens of the United States to easily share their resources with those in desperate need in economically unstable Latin American countries, including El Salvador and Nicaragua, said Kevin Day, a spokesperson for the Secretariat for the Church in Latin America of the United States Conference of Catholic Bishops.
The theme of the 2006 collection is “One Church, One America.” According to Day, the theme is a direct response to Pope John Paul II’s 1999 apostolic exhortation, “The Church in America.” In that now historic plea, the celebrated pontiff urged all Catholics in North and South America “to take responsibility in compassion and solidarity for their brothers and sisters throughout the hemisphere.”
In 2004, the donations from Catholics from across the nation netted over $6 million, financially supporting nearly 500 projects in more than 200 dioceses throughout 21 Latin American countries, Day said. “These grants are pastoral in nature.” Under the supervision of local bishops, the proceeds from the appeal generally fund youth religious formation and evangelization initiatives as well as priestly, religious and lay formation programs in Latin American countries, including the Dominican Republic and Haiti in the Caribbean as well as Colombia and Paraguay in South America, he said.
The grants particularly sustain youth leadership and ministry programs as well as training for pastoral workers and catechists, said Day. Funds from the annual appeal are also allocated for sacramental preparation and missionary work in Latin American countries, he added.
“(The Joliet Diocese) has been very generous,” said Day during a telephone interview with the Catholic Explorer. For over five years, the people of the seven-county diocese have contributed over $150,000 per year to the appeal for religious programs and services for faithful people living in Latin America. “The goal is to help the Latin American church that is in poverty and respond to pastoral needs,” he said.
A total of $241,285 was donated from the people of the Diocese of Joliet last year, according to Bishop Joseph L. Imesch. In a letter distributed to the faithful of the sprawling diocese, the veteran diocesan leader lauded the various parishioners, religious and clergy for their commitment to the monetary appeal in recent years.
Bishop Imesch pointed out that that the majority of funds collected are earmarked for faith-based services for people in Latin America. Representatives of the Secretariat for the Church in Latin America allocate the grants across the various regions.
Meanwhile, a portion of the money donated by the faithful of the diocese support the missionary efforts of two priests originally from the Joliet Diocese currently serving in the impoverished region, Msgr. John Moriarty and Father Donald Kenny, according to Bishop Imesch. Msgr. Moriarty has dedicated nearly 40 years of his life to missionary service and currently helps meet the spiritual needs of the faithful in Guayaquil, Ecuador, while Father Kenny serves as pastor of Santa Cruz de Casitagua Parish northwest of Quito, Ecuador, within the Andes Mountains.
The remainder of the appeal contributions from people of the Joliet Diocese supplements the costs of biannual medical and construction mission experiences in Sucre, Bolivia, stated Bishop Imesch. These additional funds also offset expenses of the yearly university mission trip to Sucre for seminarians of the diocese as well as students of Lewis University in Romeoville, Benedictine University in Lisle and University of St. Francis in Joliet along with students involved in campus ministry from College of DuPage in Glen Ellyn, Elmhurst College, Joliet Junior College and North Central College in Naperville.
http://www.catholicexplorer.com/explore4325/atd/appeal-meets-pastoral-nee.shtml
Microsoft Acquires UMT, Outlines Advances in Project 12, Visio 12
IT News Online Staff2006-01-19
Microsoft announced that it has completed the acquisition of software and intellectual property assets from UMT, a project and portfolio management and consulting firm. The acquisition will provide Microsoft with new technology and talent that will complement and expand upon the existing Microsoft Office Enterprise Project Management (EPM) Solution."We're excited because acquiring UMT will help us meet customers' needs for deep portfolio management capabilities," said Steve Ballmer, CEO, Microsoft Corp. "By combining our software and expertise, we'll also create a new range of solution development opportunities for customers and partners."
pay per click advertisingPortfolio management software helps organizations strategically create, manage and optimize project, application, product and process portfolios. The UMT acquisition will enable Microsoft to provide an end-to-end, integrated project and portfolio management solution that helps enable both excellence in project execution and better decision-making in prioritizing and funding those projects."We are very excited to join forces with Microsoft and to work together toward a shared vision that combines project and portfolio management capabilities," said Gil Makleff, CEO North America at UMT. "Customers will reap the benefits of being able to put tighter reins on their spending, make smarter and more consistent investments, and accurately and efficiently track how projects and initiatives are performing."Microsoft said that key members of the UMT executive team and a number of UMT product development employees would join the Microsoft Office Project team. The consulting arm of UMT will become the UMT Consulting Group to help provide successful implementations of the Microsoft portfolio management software platform.The company has also outlined the new innovations in the upcoming releases of Microsoft Office Project and Microsoft Office Visio.The next release of Microsoft's Enterprise Project Management Solution, code-named Microsoft Office Project "12", has been designed as a critical business application to help companies and business users deliver business results more quickly with an end-to-end, integrated enterprise project and portfolio management solution.Project "12" also delivers new innovations and greater benefits in the areas of visibility and insight, organizational adoption, enterprise readiness and extensibility.
Examples of these new advances include these:- Better visibility and insight. Server-side capabilities in Project "12" will draw on the newly acquired UMT technologies to enable organizations to gain greater business visibility and insight into all their work, helping them make key decisions about which projects and initiatives to fund. One example of this is UMT's ability to federate data across the enterprise to get a holistic, top-down view of work in an organization.- Easy adoption. Project "12" will help make it easy for business users to manage projects using Microsoft Project. With Project "12", project managers will be able to easily track project changes by having them visually displayed as projects are updated. In addition, the Project Server-based Web application, Project Web Access (PWA), will provide all Project team participants with a simple Web interface to perform critical business tasks such as project proposals, top-down budgeting, resource management, time-tracking and task status updating.- Enterprise readiness. Project "12", which benefits from an improved architecture, will deliver advancements in performance and scalability. Many new features will improve performance, such as local cache tools, which enable users to work offline and then resyncs automatically when they're back online. Project "12" will also incorporate new features such as those for deliverables, which makes it easy for managers to handle the complexity of master projects and dependencies across multiple projects.- Extensibility. Project Web Access "12" has been built completely on Microsoft Windows SharePoint Services 3.0, and many functions will use the .NET Platform 2.0. This platform helps enable companies to take advantage of their existing Microsoft investments. The new API facilitates integration with line-of-business applications and development of custom applications.
Business users can also easily build in business process workflows using Project's new Event Services with the Windows Workflow Foundation.Microsoft Office Visio "12", the code name for the next generation of the Microsoft Office Visio business and technical diagramming program, will help organizations make more effective business decisions by enabling people to capture, visualize, analyze and communicate complex information, processes and systems.
Complementary to Project "12" advancements, Visio "12" will help organizations take more effective action and make decisions more effectively by enabling people to capture and understand complex data.In Visio "12", new features and enhancements will make Visio diagrams easy and fast to create, as well as more professional-looking:- Design diagrams and graphics. Visio "12" delivers new diagramming and graphics capabilities that make it easy to document, design and redesign processes and systems. Using the new Themes feature, customers can choose a color or effect theme for a diagram with a single click. People can also apply conditional formatting to data using the new Data Graphics Gallery task pane. This type of visual representation allows organizations to quickly weed through complex information to identify key trends, exceptions and insights.- Connect to data sources.
With the new Data Selector wizard, it is simple to connect Visio diagrams to one or more data sources such as Microsoft Office Excel, Microsoft Office Access, Microsoft Office SharePoint Portal Server or Microsoft SQL Server. Customers can also associate shapes in a diagram with data using the new Automatic Link wizard.- Track trends and flag exceptions. The new PivotDiagram template in Visio "12" helps people visualize business data in a hierarchical form that shows data groups and totals, trends, issues and exceptions. PivotDiagrams can also be inserted into any Visio diagram to provide metrics and reports that help track the ongoing progress of a process or system.Project "12" and Visio "12" are expected to be available as part of the product releases for Microsoft Office "12", the code name for the next version of Office, in the second half of 2006.
www.itnewsonline.com
Microsoft announced that it has completed the acquisition of software and intellectual property assets from UMT, a project and portfolio management and consulting firm. The acquisition will provide Microsoft with new technology and talent that will complement and expand upon the existing Microsoft Office Enterprise Project Management (EPM) Solution."We're excited because acquiring UMT will help us meet customers' needs for deep portfolio management capabilities," said Steve Ballmer, CEO, Microsoft Corp. "By combining our software and expertise, we'll also create a new range of solution development opportunities for customers and partners."
pay per click advertisingPortfolio management software helps organizations strategically create, manage and optimize project, application, product and process portfolios. The UMT acquisition will enable Microsoft to provide an end-to-end, integrated project and portfolio management solution that helps enable both excellence in project execution and better decision-making in prioritizing and funding those projects."We are very excited to join forces with Microsoft and to work together toward a shared vision that combines project and portfolio management capabilities," said Gil Makleff, CEO North America at UMT. "Customers will reap the benefits of being able to put tighter reins on their spending, make smarter and more consistent investments, and accurately and efficiently track how projects and initiatives are performing."Microsoft said that key members of the UMT executive team and a number of UMT product development employees would join the Microsoft Office Project team. The consulting arm of UMT will become the UMT Consulting Group to help provide successful implementations of the Microsoft portfolio management software platform.The company has also outlined the new innovations in the upcoming releases of Microsoft Office Project and Microsoft Office Visio.The next release of Microsoft's Enterprise Project Management Solution, code-named Microsoft Office Project "12", has been designed as a critical business application to help companies and business users deliver business results more quickly with an end-to-end, integrated enterprise project and portfolio management solution.Project "12" also delivers new innovations and greater benefits in the areas of visibility and insight, organizational adoption, enterprise readiness and extensibility.
Examples of these new advances include these:- Better visibility and insight. Server-side capabilities in Project "12" will draw on the newly acquired UMT technologies to enable organizations to gain greater business visibility and insight into all their work, helping them make key decisions about which projects and initiatives to fund. One example of this is UMT's ability to federate data across the enterprise to get a holistic, top-down view of work in an organization.- Easy adoption. Project "12" will help make it easy for business users to manage projects using Microsoft Project. With Project "12", project managers will be able to easily track project changes by having them visually displayed as projects are updated. In addition, the Project Server-based Web application, Project Web Access (PWA), will provide all Project team participants with a simple Web interface to perform critical business tasks such as project proposals, top-down budgeting, resource management, time-tracking and task status updating.- Enterprise readiness. Project "12", which benefits from an improved architecture, will deliver advancements in performance and scalability. Many new features will improve performance, such as local cache tools, which enable users to work offline and then resyncs automatically when they're back online. Project "12" will also incorporate new features such as those for deliverables, which makes it easy for managers to handle the complexity of master projects and dependencies across multiple projects.- Extensibility. Project Web Access "12" has been built completely on Microsoft Windows SharePoint Services 3.0, and many functions will use the .NET Platform 2.0. This platform helps enable companies to take advantage of their existing Microsoft investments. The new API facilitates integration with line-of-business applications and development of custom applications.
Business users can also easily build in business process workflows using Project's new Event Services with the Windows Workflow Foundation.Microsoft Office Visio "12", the code name for the next generation of the Microsoft Office Visio business and technical diagramming program, will help organizations make more effective business decisions by enabling people to capture, visualize, analyze and communicate complex information, processes and systems.
Complementary to Project "12" advancements, Visio "12" will help organizations take more effective action and make decisions more effectively by enabling people to capture and understand complex data.In Visio "12", new features and enhancements will make Visio diagrams easy and fast to create, as well as more professional-looking:- Design diagrams and graphics. Visio "12" delivers new diagramming and graphics capabilities that make it easy to document, design and redesign processes and systems. Using the new Themes feature, customers can choose a color or effect theme for a diagram with a single click. People can also apply conditional formatting to data using the new Data Graphics Gallery task pane. This type of visual representation allows organizations to quickly weed through complex information to identify key trends, exceptions and insights.- Connect to data sources.
With the new Data Selector wizard, it is simple to connect Visio diagrams to one or more data sources such as Microsoft Office Excel, Microsoft Office Access, Microsoft Office SharePoint Portal Server or Microsoft SQL Server. Customers can also associate shapes in a diagram with data using the new Automatic Link wizard.- Track trends and flag exceptions. The new PivotDiagram template in Visio "12" helps people visualize business data in a hierarchical form that shows data groups and totals, trends, issues and exceptions. PivotDiagrams can also be inserted into any Visio diagram to provide metrics and reports that help track the ongoing progress of a process or system.Project "12" and Visio "12" are expected to be available as part of the product releases for Microsoft Office "12", the code name for the next version of Office, in the second half of 2006.
www.itnewsonline.com
BeefTalk: Power drives technology
By KRIS RINGWALL, NDSU Extension Beef SpecialistThursday, January 19, 2006 10:00 AM
An uncommon, but quite possible, event for anyone is a power outage. In days past, with all the power lines strung from pole to pole, the frequency of power outages was greater than today.Today, with well-placed lines, the frequency of power outages is less, but power outages do occur.
Years ago, a producer could work an entire day only to find the power was out. No one even noticed until sunset and even then a candle was quickly lit and life went on.That is not true anymore. If there is no power, the world comes to a halt. Backup systems are designed to assist in critical areas, but even with backup power, a drastic change in rationale emerged among the populous: no power, no work.The days of occasionally turning on a computer to check on a particular work function have long passed us by. Today, the mind seems to engage as the computer powers up and disengages as the computer shuts down. Therefore, if the computer is not running, despite well-lit rooms, there is no reason to engage.The constant incoming and outgoing e-mails, the nonaudible sounds of chat rooms and numerous embedded news, music or entertainment sites all cease to function. Even at home, the disconnect to the world brings upturned eyes and a new level of grunting.
The connectedness with technology is remarkable. At work and home, technology thoroughly is entwined in almost every branch of our lives. The obvious still may be brick and mortar, the feed bunks are still there and the cows are bedded down on the same hill, but access to the pen may be denied if the electric lock doesn't respond.The crew can't check in because the system requires power. The tractor is behind the garage door, which needs power to open. The phones lasted for a while on backup power; however, soon all the electric components went dead, so there is no access. Not knowing when the lines may be alive and well, we just don't know when to pick up the phone.Yes, the generators are keeping essential operations going, but the small details are still shutting things down. Eventually, all give in and the world quietly settles into a rest. A technology-driven world drives technology-driven people. It is all paced at the speed of technology, waiting for technology-driven cues to provide a technology-driven function. A function someone is willing to pay for, so people can go home and enjoy the comfort of their technology-controlled environment, none of which works in an energy-deficient mode.Technology, like it or not, is well on its way to becoming embedded in the cattle business. If one doesn't think so, just check for some little, inconspicuous devices in the hired hand's ear.Undoubtedly, the devices may lead to a couple of cords that hook up to an iPod, comfortably tucked away for easy access. Future efforts at wireless connections may not only pave the way for constant connection to all the electronically ear-tagged cattle, but may very well provide instant access to the iPod, allowing communication with the next generation of producers.This seems somewhat far-fetched, but technology just keeps shrinking, going from mega to micro to nano. Pica may be too large.The problem is still the same today. When the power is out, the help all leaves and the cows and calves still need to be fed. Perhaps there is still a good place for a team of draft horses, provided the driver can keep his iPod.May you find all your NAIS-approved ear tags.(Your comments are always welcome at http://www.BeefTalk.com. For more information, contact the NDBCIA Office, 1133 State Ave., Dickinson, ND 58601 or go to http://www.CHAPS2000.COM on the Internet.)
An uncommon, but quite possible, event for anyone is a power outage. In days past, with all the power lines strung from pole to pole, the frequency of power outages was greater than today.Today, with well-placed lines, the frequency of power outages is less, but power outages do occur.
Years ago, a producer could work an entire day only to find the power was out. No one even noticed until sunset and even then a candle was quickly lit and life went on.That is not true anymore. If there is no power, the world comes to a halt. Backup systems are designed to assist in critical areas, but even with backup power, a drastic change in rationale emerged among the populous: no power, no work.The days of occasionally turning on a computer to check on a particular work function have long passed us by. Today, the mind seems to engage as the computer powers up and disengages as the computer shuts down. Therefore, if the computer is not running, despite well-lit rooms, there is no reason to engage.The constant incoming and outgoing e-mails, the nonaudible sounds of chat rooms and numerous embedded news, music or entertainment sites all cease to function. Even at home, the disconnect to the world brings upturned eyes and a new level of grunting.
The connectedness with technology is remarkable. At work and home, technology thoroughly is entwined in almost every branch of our lives. The obvious still may be brick and mortar, the feed bunks are still there and the cows are bedded down on the same hill, but access to the pen may be denied if the electric lock doesn't respond.The crew can't check in because the system requires power. The tractor is behind the garage door, which needs power to open. The phones lasted for a while on backup power; however, soon all the electric components went dead, so there is no access. Not knowing when the lines may be alive and well, we just don't know when to pick up the phone.Yes, the generators are keeping essential operations going, but the small details are still shutting things down. Eventually, all give in and the world quietly settles into a rest. A technology-driven world drives technology-driven people. It is all paced at the speed of technology, waiting for technology-driven cues to provide a technology-driven function. A function someone is willing to pay for, so people can go home and enjoy the comfort of their technology-controlled environment, none of which works in an energy-deficient mode.Technology, like it or not, is well on its way to becoming embedded in the cattle business. If one doesn't think so, just check for some little, inconspicuous devices in the hired hand's ear.Undoubtedly, the devices may lead to a couple of cords that hook up to an iPod, comfortably tucked away for easy access. Future efforts at wireless connections may not only pave the way for constant connection to all the electronically ear-tagged cattle, but may very well provide instant access to the iPod, allowing communication with the next generation of producers.This seems somewhat far-fetched, but technology just keeps shrinking, going from mega to micro to nano. Pica may be too large.The problem is still the same today. When the power is out, the help all leaves and the cows and calves still need to be fed. Perhaps there is still a good place for a team of draft horses, provided the driver can keep his iPod.May you find all your NAIS-approved ear tags.(Your comments are always welcome at http://www.BeefTalk.com. For more information, contact the NDBCIA Office, 1133 State Ave., Dickinson, ND 58601 or go to http://www.CHAPS2000.COM on the Internet.)
China puts technology at policy forefromt
By Shihoko Goto Jan 19, 2006, 21:19 GMT
var PageContent= 'WASHINGTON, DC, United States (UPI) -- Semiconductors may be the best way for China to move beyond simply being regarded the factory to the world, albeit a huge one at that.\nGiven that chips are found in all technology-driven products from computers to consumer goods, becoming a world leader in producing them will lead to greater power for the country, according to William Archey, chief executive of the American Electronics Association and former U.S. Department of Commerce official. \n\'Semiconductors determine so many things ... so China must become a leader in chips\' if it is to remain a formidable economic force, Archey said at a briefing on high technology in China hosted by the Council on Foreign Affairs Wednesday. \nCertainly, the Chinese authorities appear to agree with that assessment as lawmakers make clear that investing in the technology sector is key for the country`s growth, a fact noted by Adam Segal, senior fellow of China studies at the council. \n\'Information technology, the environment, aerospace, energy, and biotech are where the (government) money is focused on,\' Segal said, adding that U.S. policymakers too could learn from the priorities outlined by their Chinese counterparts as many still appear oblivious to the fact that the United States might be losing ground when it comes to training technology specialists.\nAs a result, it would be good for lawmakers and the general public alike to be wary of the so-called China threat, given that it may well be a reality, Archey said. \nStill, there are perhaps more opportunities to be had as China becomes more of an equal to the United States when it comes to raking in profits. For instance, both Archey and Segal pointed out that the Chinese government was far more open than the Japanese, especially as the Japanese fought hard to protect their domestic companies by keeping foreign competition at bay. \n\'In Japan, it was always a question of market access\' when it came to negotiating with the Chinese authorities, Segal said. He pointed out that in the case of China as well as India, it has been clear that the governments wanted to emulate the U.S. business model, which has not been the case in Japan.\nOf course, one of the issues for technology companies doing business in China has been the protection of intellectual property, or lack thereof, which has not been the case when operating in Japan. But analysts have broadly agreed that once the Chinese start producing goods that require patent protection, it will quickly be in the government`s interest to start imposing the laws to assure Chinese corporate profits.\nMeanwhile, there is likely to be a shift within China on how business is conducted in coming years. \nMany of those who are currently driving business in China \'are scientists, who aren`t necessarily the best managers,\' Archey said, adding that a large number of those want to be their own boss, resulting in the establishment of numerous smaller enterprises rather than a handful of powerful industrial groups.\nCopyright 2006 by United Press International ';
PrintArticle();// -->
WASHINGTON, DC, United States (UPI) -- Semiconductors may be the best way for China to move beyond simply being regarded the factory to the world, albeit a huge one at that.
Given that chips are found in all technology-driven products from computers to consumer goods, becoming a world leader in producing them will lead to greater power for the country, according to William Archey, chief executive of the American Electronics Association and former U.S. Department of Commerce official.
'Semiconductors determine so many things ... so China must become a leader in chips' if it is to remain a formidable economic force, Archey said at a briefing on high technology in China hosted by the Council on Foreign Affairs Wednesday.
Certainly, the Chinese authorities appear to agree with that assessment as lawmakers make clear that investing in the technology sector is key for the country`s growth, a fact noted by Adam Segal, senior fellow of China studies at the council.
'Information technology, the environment, aerospace, energy, and biotech are where the (government) money is focused on,' Segal said, adding that U.S. policymakers too could learn from the priorities outlined by their Chinese counterparts as many still appear oblivious to the fact that the United States might be losing ground when it comes to training technology specialists.
As a result, it would be good for lawmakers and the general public alike to be wary of the so-called China threat, given that it may well be a reality, Archey said.
Still, there are perhaps more opportunities to be had as China becomes more of an equal to the United States when it comes to raking in profits. For instance, both Archey and Segal pointed out that the Chinese government was far more open than the Japanese, especially as the Japanese fought hard to protect their domestic companies by keeping foreign competition at bay.
'In Japan, it was always a question of market access' when it came to negotiating with the Chinese authorities, Segal said. He pointed out that in the case of China as well as India, it has been clear that the governments wanted to emulate the U.S. business model, which has not been the case in Japan.
Of course, one of the issues for technology companies doing business in China has been the protection of intellectual property, or lack thereof, which has not been the case when operating in Japan. But analysts have broadly agreed that once the Chinese start producing goods that require patent protection, it will quickly be in the government`s interest to start imposing the laws to assure Chinese corporate profits.
Meanwhile, there is likely to be a shift within China on how business is conducted in coming years.
Many of those who are currently driving business in China 'are scientists, who aren`t necessarily the best managers,' Archey said, adding that a large number of those want to be their own boss, resulting in the establishment of numerous smaller enterprises rather than a handful of powerful industrial groups.
tech.monstersandcritics.com
var PageContent= 'WASHINGTON, DC, United States (UPI) -- Semiconductors may be the best way for China to move beyond simply being regarded the factory to the world, albeit a huge one at that.\nGiven that chips are found in all technology-driven products from computers to consumer goods, becoming a world leader in producing them will lead to greater power for the country, according to William Archey, chief executive of the American Electronics Association and former U.S. Department of Commerce official. \n\'Semiconductors determine so many things ... so China must become a leader in chips\' if it is to remain a formidable economic force, Archey said at a briefing on high technology in China hosted by the Council on Foreign Affairs Wednesday. \nCertainly, the Chinese authorities appear to agree with that assessment as lawmakers make clear that investing in the technology sector is key for the country`s growth, a fact noted by Adam Segal, senior fellow of China studies at the council. \n\'Information technology, the environment, aerospace, energy, and biotech are where the (government) money is focused on,\' Segal said, adding that U.S. policymakers too could learn from the priorities outlined by their Chinese counterparts as many still appear oblivious to the fact that the United States might be losing ground when it comes to training technology specialists.\nAs a result, it would be good for lawmakers and the general public alike to be wary of the so-called China threat, given that it may well be a reality, Archey said. \nStill, there are perhaps more opportunities to be had as China becomes more of an equal to the United States when it comes to raking in profits. For instance, both Archey and Segal pointed out that the Chinese government was far more open than the Japanese, especially as the Japanese fought hard to protect their domestic companies by keeping foreign competition at bay. \n\'In Japan, it was always a question of market access\' when it came to negotiating with the Chinese authorities, Segal said. He pointed out that in the case of China as well as India, it has been clear that the governments wanted to emulate the U.S. business model, which has not been the case in Japan.\nOf course, one of the issues for technology companies doing business in China has been the protection of intellectual property, or lack thereof, which has not been the case when operating in Japan. But analysts have broadly agreed that once the Chinese start producing goods that require patent protection, it will quickly be in the government`s interest to start imposing the laws to assure Chinese corporate profits.\nMeanwhile, there is likely to be a shift within China on how business is conducted in coming years. \nMany of those who are currently driving business in China \'are scientists, who aren`t necessarily the best managers,\' Archey said, adding that a large number of those want to be their own boss, resulting in the establishment of numerous smaller enterprises rather than a handful of powerful industrial groups.\nCopyright 2006 by United Press International ';
PrintArticle();// -->
WASHINGTON, DC, United States (UPI) -- Semiconductors may be the best way for China to move beyond simply being regarded the factory to the world, albeit a huge one at that.
Given that chips are found in all technology-driven products from computers to consumer goods, becoming a world leader in producing them will lead to greater power for the country, according to William Archey, chief executive of the American Electronics Association and former U.S. Department of Commerce official.
'Semiconductors determine so many things ... so China must become a leader in chips' if it is to remain a formidable economic force, Archey said at a briefing on high technology in China hosted by the Council on Foreign Affairs Wednesday.
Certainly, the Chinese authorities appear to agree with that assessment as lawmakers make clear that investing in the technology sector is key for the country`s growth, a fact noted by Adam Segal, senior fellow of China studies at the council.
'Information technology, the environment, aerospace, energy, and biotech are where the (government) money is focused on,' Segal said, adding that U.S. policymakers too could learn from the priorities outlined by their Chinese counterparts as many still appear oblivious to the fact that the United States might be losing ground when it comes to training technology specialists.
As a result, it would be good for lawmakers and the general public alike to be wary of the so-called China threat, given that it may well be a reality, Archey said.
Still, there are perhaps more opportunities to be had as China becomes more of an equal to the United States when it comes to raking in profits. For instance, both Archey and Segal pointed out that the Chinese government was far more open than the Japanese, especially as the Japanese fought hard to protect their domestic companies by keeping foreign competition at bay.
'In Japan, it was always a question of market access' when it came to negotiating with the Chinese authorities, Segal said. He pointed out that in the case of China as well as India, it has been clear that the governments wanted to emulate the U.S. business model, which has not been the case in Japan.
Of course, one of the issues for technology companies doing business in China has been the protection of intellectual property, or lack thereof, which has not been the case when operating in Japan. But analysts have broadly agreed that once the Chinese start producing goods that require patent protection, it will quickly be in the government`s interest to start imposing the laws to assure Chinese corporate profits.
Meanwhile, there is likely to be a shift within China on how business is conducted in coming years.
Many of those who are currently driving business in China 'are scientists, who aren`t necessarily the best managers,' Archey said, adding that a large number of those want to be their own boss, resulting in the establishment of numerous smaller enterprises rather than a handful of powerful industrial groups.
tech.monstersandcritics.com
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