BlackBerry Ltd CEO Chen: Western governments wouldn’t allow Chinese takeover offer

“I would prefer to build a lot of value before I even contemplate” selling.

BlackBerry Ltd. Chief Executive Officer John Chen said he wouldn’t be able to accept a takeover offer from a Chinese company even if he got one because Western governments that rely on his phones probably wouldn’t allow it.

“We probably are unable to do that,” Chen said in an interview on Bloomberg TV’s “Studio 1.0,” when asked if he would sell BlackBerry to a Chinese company. “One of our biggest install bases is government in the so-called Five Eyes countries where governments share intelligence. I think there will be a lot of regulatory issues and concerns.”

The Five Eyes is an intelligence cooperation agreement between the U.S., Canada, the U.K., New Zealand and Australia. Waterloo, Ontario-based BlackBerry has focused on its reputation for security as it works to win contracts to manage mobile devices for corporations and governments. U.S. President Barack Obama, German Chancellor Angela Merkel and U.K. Prime Minister David Cameron have all been spotted using the keyboard-equipped device.

Chen, a native of Hong Kong, did say last month that he’s interested in partnerships with Chinese companies to help increase BlackBerry’s presence in the world’s largest smartphone market. He made the comment at the Asia-Pacific Economic Cooperation CEO Summit in Beijing, where he met with the heads of Lenovo and Xiaomi Corp.

Lenovo had expressed interest in a possible deal with BlackBerry last year before the manufacturer tried and failed to sell itself.

For now, Chen said he has no takeover offers on his desk for the US$5.8 billion company.
“Talk is not an offer,” he said. “I would prefer to build a lot of value before I even contemplate” selling.

Tax Haven Lessons From The Fortune 500
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BLACKBERRY – Lenova Takeover Rumors

TORONTO (Reuters) – BlackBerry (BB.TO) (BBRY.O) shares rose more than 3 percent on Monday after a news website said Chinese computer maker Lenovo Group might offer to buy the Canadian technology company., citing an unnamed source familiar with the matter, said an offer $15 a share could come as early as this week.

Lenovo and BlackBerry said their companies did not comment on rumors and speculation.

Rumors of a Lenovo bid for BlackBerry have swirled many times over the last two years. Senior Lenovo executives at different times have indicated an interest in BlackBerry as a means to strengthen their own handset business.

The speculation reached a crescendo in the fall of 2013, when BlackBerry was exploring strategic alternatives.

Sources familiar with the situation however, told Reuters last year that the Canadian government had strongly hinted to BlackBerry that any sale to Lenovo would not win the necessary regulatory approvals due to security concerns.

BlackBerry’s secure networks manage the email traffic of thousands of large corporate customers, along with government and military agencies across the globe. Under Canadian law, any foreign takeover of BlackBerry would require government approval under the Industry Canada Act.

Canadian Prime Minister Stephen Harper told Reuters in February 2012 that he wanted BlackBerry to grow “as a Canadian company.” And in December 2011, then-Industry Minister Christian Paradis referred to the company as a “Canadian jewel.”

Analysts also have said any sale to Lenovo would face regulatory obstacles, but they have suggested that a sale of just BlackBerry’s handset business and not its core network infrastructure might just pass muster with regulators.

BlackBerry’s long-struggling handset business turned a profit before special items in the last quarter, after the Waterloo, Ontario-based company concluded its three-year restructuring program.

However, BlackBerry Chief Executive Officer John Chen has said he sees the handset business as core to the company for now, as it will foster sales growth over the next few quarters until the software and services business begins to generate new revenue streams in the first half of 2015.

Shares of BlackBerry were up 3.4 percent at $9.81 in early Nasdaq trading. Its Toronto-listed shares were up 3.1 percent at C$11.03.

Why Burger King / Tim Hortons Will Work – Tax Magic

reprinted from

Corporate Income Tax Rates Around The World : U.S. Third Highest
Posted on August 30, 2014 by jackbassteam

The United States Has the Third Highest Corporate Tax Rate among 163 Nations

( – which is why our Tax Minimization System is so effective – contact information at the end of this discussion. However , if you cannot understand why paying 3 cants of every earned dollar is better than 35 % read no farther)

The top marginal corporate tax rate among the 163 countries surveyed was the United Arab Emirates, which has a top rate of 55 percent . This is followed by the African nation of Chad (40 percent). The United States, with a combined top marginal tax rate of 39.1 percent (consisting of the federal tax rate of 35 percent plus the average tax rate among the states), has the third highest corporate income tax rate in the world. In contrast, the average across all 163 countries and tax jurisdictions is 22.6, or 30.6 percent weighted by gross domestic product.

Every region in the world except for Oceania is represented in the top twenty countries. Six of the top twenty countries are in Africa and five are in Asia. The nine remaining countries are in South and North America.

Other large nations in the top twenty countries besides the United States are Japan (37 percent), France (34.4 percent), Brazil (34 percent), Pakistan (34 percent), and India (34 percent)

The key findings of the latest summary of worldwide corporate tax data published by The Tax Foundation are:

The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates.
The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP).
By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
Larger, more industrialized countries tend to have higher corporate income tax rates than developing countries.
The worldwide (simple) average top corporate tax rate has declined over the past decade from 29.5 percent to 22.6 percent.
Every region in the world has seen a decline in their average corporate tax rate in the past decade

You and Your Company Can Achieve Gold Standard Tax Reduction With Our System – if you act . Common Sense Demands : Move Your Money to A Low Tax Jurisdiction.

Effective and efficient are the hallmarks of money management – are they they hallmarks of your tax planning ?Personal concerns over privacy are as important and the jurisdictions we use value that secrecy to the extent it is part of their banking and tax codes.

Yes we have to charge for putting all this in place – because unlike your fairy godmother our creditors demand payment as bills become due . Don’t begrudge the workman his due.

If you want total control you must open both a corporation and a bank account in a low tax jurisdiction ( usually referred to as a tax haven) – and you will have to pay to get that done by a reliable party PERIOD – is that clear enough ? Developing a tax strategy is not the same as walking into the mall and opening a checking account.

Tax Haven Savings – Contact Information

Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ? Information must proceed action and that is why we offer a no cost / no obligation inquiry service.

Email info@ or
Call Jack direct at 604-858-3202 – Pacific Time 9:00 – 5;00 Monday to Friday

The main intention of our website is to provide objective and independent information that will help the potential investor to make his own decisions in an informed manner. To this effect we try to explain in a simple language the different processes and the most important figures involved in offshore business and to show the different alternatives that exist, evaluating their pros and cons.
On the other hand we intend – in terms of offshore finance, bringing these products to the average citizen.

Do something to help yourself – contact Jack A. Bass now !

Avago Technologies Limited

AVGO : NASDAQ : US$34.43
Target: US$42.00

Avago Technologies Limited is a designer, developer and global supplier of analog semiconductor devices. Avago offers products in three primary target markets: wireless communications, wired infrastructure, and industrial and automotive electronics. Applications for Avago products include smartphones, connected tablets, consumer appliances, data networking and telecom equipment, and enterprise storage and servers.

Investment recommendation:

Avago reported solid Q2/F2013 results above low expectations due to a modest recovery in Industrial division sales and strong Wireless division sales to Samsung and other LTE smartphone OEMs that helped offset the iPhone transition at largest customer Foxconn (Apple). Further, Avago guided to strong sequential growth in all 3 divisions for the July quarter. We anticipate strong Wireless sales growth in 2H/F2013 due to strong FBAR filter demand for new LTE smartphone programs at leading smartphone customers such as Apple, Samsung and others.

Further, we believe Avago’s proprietary technologies, strong IP portfolio, and diverse customer base in several growth markets position the company for strong long-term growth and industry-leading margins. We reiterate our BUY rating and $42 target.
Investment highlights
 Q2/F2013 sales of $562M and pro forma EPS of $0.61 were above our $552M/$0.57 estimates due to strong sales of FBAR filters into ramping
LTE smartphone programs and surprising 4% Q/Q sales growth in the highest-margin Industrial division – versus guidance for low single digit
decline – driven by a broad increase in distributor sell-though. Solid Wireless sales despite the Apple product transition were consistent with our surveys indicating strong LTE smartphone sales, including the Galaxy S 4, as Samsung was a 10% Avago customer for the first time.
 Avago management guided to a 6%-9% Q/Q increase in revenue for the July quarter driven by solid Q/Q growth in all divisions, including highsingle- digit Q/Q growth in Wireless due to the initial sales ramp into new smartphone programs at Apple.
 Our bullish H2 Wireless outlook remains unchanged, though we slightly increase our F2013E pro forma EPS from $2.73 to $2.74 and our F2014
estimate from $3.19 to $3.21 due to a modestly increased outlook for Avago’s Industrial division.

Our $42 price target is based on shares trading at roughly 13x our F2014 pro forma EPS estimate.

Transocean : Ichan Creeps Up

English: Transocean Wildcat (Aker H-3 design) ...
English: Transocean Wildcat (Aker H-3 design) drilling rig in Cromarty Firth, Scotland. (Photo credit: Wikipedia)


RIG : NYSE : US$58.17
I wonder what Bill Ackman thinks?

Carl Icahn disclosed his stake in Transocean increased to 5.6% late Friday, sending shares of the offshore driller higher. Additionally he has asked management to declare a dividend of at least $4 per share, and has said that if the company doesn‘t, he will propose it at the next shareholder meeting. He said, in a filing, ―Under Swiss law and the Issuer’s Articles of Association, a shareholder has the right to propose a dividend at a company’s annual meeting, and if a majority of shareholders support the proposal, the dividend is declared, whether or not the company’s board supports such  proposal.

Transocean responded in a statement that read, ―We will review Mr. Icahn’s filing carefully and respond in due course. We appreciate the opportunity to hear from our shareholders and look forward to continuing a dialogue with Mr. Icahn.

As always, the Transocean Board of Directors will set dividend policy on the basis of financial prudence and the best interest of
shareholders.‖ Transocean initiated a dividend in 2011, but was forced to abandon the payouts in an effort to maintain its
balance sheet and investment-grade rating on its debt

Brookfield Renewable Energy / Western Wind

English: Wind Turbines Zephyr and Freedom in M...
English: Wind Turbines Zephyr and Freedom in Moorhead, Minnesota Energy Information Administration (Photo credit: Wikipedia)

( Western Wind is featured in The Apprentice Millionaire Portfolio from Amazon Books )

Brookfield Renewable Energy

(BEP.UN : TSX : $30.14)
Western Wind Energy

(WND : TSX-V : $2.51)

”Brookfield Renewable Energy Partners has increased its all-cash offer for the shares of Western Wind to $2.60/share from $2.50/share and has extended the expiry time of the offer to February 11, 2013 from January 28, 2013. BEP.UN indicates that 22% of independent shareholders have either entered into lock up agreements or have advised that they will tender the shares to the offer.

While this may seem like a no-brainer for Western Wind shareholders as it represents a 119% premium to the share price prior to the   nouncement that it was for sale (July 28, 2012)…we suspect the Western Wind CEO will continue to posture for an even sweeter bid. Just a couple days ago, BEP.UN demonstrated their frustration with Western Wind, saying there were terminating discussions. Upon making its offer in November 2012, the company said its preferred approach was to work with the Board and the advisors towards a Board supported transaction.

However the gloves have now come off. In a recent press release, BEP.UN said, ―Unfortunately, based on Western Wind’s conduct since
commencement of the Offer it appears that Western Wind, and in particular, its CEO, has no intention of selling the Company.
In fact, Brookfield Renewable’s recent discussions with Western Wind appear to have been orchestrated by the Company to enable it to issue its January 22, 2013 news release as well as its Notice of Change to its Supplementary Director’s Circular, and raise shareholder expectations that a revised proposal will be made, despite there being no agreement or understanding between the parties regarding a proposal or its terms.‖ BEP.UN also points to the fact that Western Wind said 56 parties were interested in acquiring the company, yet no alternative proposals have emerged.

Interestingly, management of Western Wind has also managed to convince its board of directors to approve early payments of their change of control payments (despite the fact that no sale was on the horizon). Ciachurski received approximately $3 million. Better yet, Ciachurski continues to have a special bonus arrangement in which he would receive another $3 million if he gets $3.00 a share for the company…aka…the battle is
likely not over .

Denison Mines – Uranium Sector Update

A billet of highly enriched uranium that was r...
A billet of highly enriched uranium that was recovered from scrap processed at the Y-12 National Security Complex Plant. Original and unrotated. Source: (Photo credit: Wikipedia)

DENISON MINES (T-DML) $1.57 +0.09
UEX CORP. (T-UEX) $0.795 +0.045
UR ENERGY (T-URE) $0.935 +0.035

Yes the price of uranium is still in the toilet ($42.50 is just off the bottom), but one might still be hopeful.
The recent deal announced by Denison Mines shows that there is obviously hope by some of the players that with all the new nukes in China, India and Russia coming on stream, that nuclear has a future. Also the billion dollar take-over of Uranium One (UUU) shows that some of those
dollars are staying in the sector…
Scott Carlson of the Canaccord desk writes an aggressive/ hopeful piece: “Putting together an attractive package… leading to another bidding war? Denison Mines announced  Wednesday that it intends to add another piece to its already attractive portfolio of high-quality and strategically
located uranium development projects (and a significant interest in the McClean Lake Mill). DML has agreed to buy some uranium development and exploration properties for about $70 million in a bid to expand its holdings in Canada’s Athabasca Basin.

Bloomberg noted that DML is stepping up its exposure in the Athabasca Basin, home to the world richest high-grade uranium deposits, after last year selling its U.S. unit. Speculation at that time was that Denison was positioning itself to be acquired. Commenting Wednesday following the announcement of Denison’s most recent (proposed) deal, one Bay Street analyst stated that a bidding war for DML between Cameco (CCO) and Rio Tinto (RIO) may be next up.

Remember, the two industry giants went head to head in the battle over Hathor Exploration, with Rio eventually succeeding in the bidding war.

Another analyst commenting Wednesday noted that in addition to CCO and RIO, DML’s suite of assets may also attract Asian nuclear utilities. Separately, just over a week ago DML released an impressive updated Mineral Resource estimate for the high-grade Phoenix A and Phoenix B uranium deposits on its Wheeler River project in Northern Saskatchewan.”