Excerpt:
Tue, 10/14/2008 - 9:34pm — lambert
It gives me a frisson of pleasure to quote People's Daily on the ownership structure of Hank Paulson's old, and no doubt future, firm:
One of the largest events in the firm's history was its own IPO in 1999. Goldman offered a small portion of the company to the public, with some 48 percent still held by the partnership pool.
22 percent of the company is held by non-partner employees, and 18 percent is held by retired Goldman partners and two longtime investors, Sumitomo Bank Ltd. and Hawaii's Kamehameha Activities Assn (the investing arm of Kamehameha Schools). This leaves approximately 12 percent of the company as being held by the public.
http://www.ksbe.edu/article.php?story=2004090315121316
Excerpt:
Sale of Goldman Sachs stock being considered
Friday, April 20 2001 @ 03:52 PM HST | Contributed by: CEO Message | Views:1,693
Aloha Colleagues,
You may see some media coverage soon regarding KS selling another block of its stock in Goldman Sachs & Co., Inc.
Indeed, Kamehameha Activities Association (a wholly-owned KS subsidiary) is considering selling approximately 4 million shares of the company as part of Kamehameha's on-going strategy of diversifying its overall investment portfolio. KAA currently owns about 9.5 million shares of Goldman Sachs, which, given the value of the stock, is considered by our Endowment managers to be an over-concentration of KS resources in a single investment. If the sale is made, proceeds would be used to fund other investment categories that would further broaden Kamehameha's investment base.
We expect to make a recommendation to the Trustees for their final decision on this sale within the next week or so.
http://www2.goldmansachs.com/s/prospectus/FutureSale.html
http://www.nytimes.com/keyword/daiwa-bank
Excerpt:
You may see some media coverage soon regarding KS selling another block of its stock in Goldman Sachs & Co., Inc.
Indeed, Kamehameha Activities Association (a wholly-owned KS subsidiary) is considering selling approximately 4 million shares of the company as part of Kamehameha's on-going strategy of diversifying its overall investment portfolio. KAA currently owns about 9.5 million shares of Goldman Sachs, which, given the value of the stock, is considered by our Endowment managers to be an over-concentration of KS resources in a single investment. If the sale is made, proceeds would be used to fund other investment categories that would further broaden Kamehameha's investment base.
We expect to make a recommendation to the Trustees for their final decision on this sale within the next week or so.
http://www2.goldmansachs.com/s/prospectus/FutureSale.html
http://www.nytimes.com/keyword/daiwa-bank
Excerpt:
FIND MORE STORIES ABOUT :
- As it moves to recoup from a United States trading scandal, Daiwa Bank Ltd. submitted a restructuring plan today to the Finance Ministry that would cut its staff by 25 percent over the next four years. The company plans to cut about 2,400 workers from its work force of 9,400. Daiwa has until Feb. 2 to stop operating in the United States under a Federal order. United States bank regulators had charged that the bank's management tried to conceal a New York branch trader's $1.1 billion in trading losses over 11 years.January 13, 1996
- Daiwa Bank Ltd. of Japan pleaded guilty yesterday to charges that it covered up more than $1 billion in trading losses at its New York branch, and it agreed to pay $340 million in fines as it moved to put the scandal behind it. Federal officials said the criminal fine was a record for a financial institution. By pleading guilty, Daiwa Bank changed its strategy. When Federal criminal charges were brought against the bank in November, Daiwa Bank pleaded not guilty and said it would strongly contest the charges.February 29, 1996
http://www.nytimes.com/1999/08/14/business/sumitomo-sues-j-p-morgan-for-role-in-copper-debacle.html
Excerpt:
Excerpt:
Sumitomo Sues J. P. Morgan For Role in Copper Debacle
Correction Appended
J. P. Morgan & Company, one of the most prestigious banks in the nation, has been sued by the Sumitomo Corporation, one of Japan's largest banks, over loans to a copper trader whose trading binge ended in heavy losses in the mid-1990's.
Sumitomo's suit said Morgan lent at least $535 million to the trader, whose spree cost Sumitomo $2.6 billion in losses.
The information was disclosed in a lawsuit that was unsealed yesterday evening in Federal District Court in Manhattan. Sumitomo filed the suit earlier in the week, seeking $735 million in compensation from Morgan for its role in the trading scandal, which came to light in 1996.
The Chase Manhattan Corporation and UBS A.G. of Switzerland have also been sued recently by Sumitomo in connection with the scandal. Chase lent the trader, Yasuo Hamanaka, about $500 million, according to that suit, which Chase has contested.
Morgan, which prides itself on being one of the country's most cautious lenders, is the only bank to have been singled out by United States regulators for its role in the scandal. In 1997, the Federal Reserve Bank of New York reprimanded Morgan for lax controls and supervision in its commodities lending business, largely because Morgan was more financially dependent on Sumitomo as a client than other banks.
http://lizditz.typepad.com/i_speak_of_dreams/2004/06/object_lessons_.html
Excerpt:
A few years ago after a scandal that led to a housecleaning on the board of trustees, the name of the school complex was applied to the name of the estate, a mission reminder to the new management. The value of the Kamehameha Schools is in the billions; the estate’s holdings include a pair of resort hotels, the Royal Hawaiian shopping center, holdings in Las Vegas, two of the largest shopping centers in Wisconsin, and large expanses of timberland in Michigan. The estate’s trustees until recently received a compensation of $1 million per year.
In March, 1999, one of the "new guard" trustees, Gerard Jervis, was discovered having sex with a trust attorney, Rene Ojiri Kitaoka, in a restroom at a hotel in Waikiki. Kitaoka committed suicide next day. A week later, Jervis took an overdose of sleeping pills; he survived, but resigned in August 1999.
http://www.electrifyingtimes.com/toyota_idea_factory.html
Excerpt:
Since 1950, Toyota has not laid a single employee off, worldwide.
Page 129
Ideally, the suggesters themselves should make as many decisions as possible about their own ideas. At Dana Corporation (another company mentioned in the book - ET), it is corporate policy that every employee is the company's top expert in the twenty-five square feet he or she works in have the authority to spend up to $50 on an improvement without the approval of management. Toyota also emphasize action rather than ideas. They don't expect most ideas to be reported to the formal system until after they are implemented.
Federal Reserve/IRS = Private Corporations
http://www.youtube.com/watch?v=VVzkceT521A
http://kingston.ulsterpublishing.com/view/full_story/11406693/article-Big-Blue--briefly
Excerpt:
RFID Chip - IBM Propaganda - What Will You Do?
http://www.youtube.com/watch?v=TMevOTVyU-w&feature=related
Tommy Thompson and the RFID chip
http://www.youtube.com/watch?v=HiLixwNkur8
http://en.wikipedia.org/wiki/IBM_and_the_Holocaust
IBM and the Holocaust is a book by investigative journalist Edwin Black which details the business dealings of the American-based multinational corporation International Business Machines (IBM) and its German and other European subsidiaries with the government of Adolf Hitler during the 1930s and the years of World War II. In the book, Black outlines the way in which IBM's technology helped facilitate Nazi genocide against the Jewish people through generation and tabulation of punch cards based upon national census data.[1]
Aaron Russo Told About 9/11 in Advance, Verichip
http://www.youtube.com/watch?v=xorR2Yo84Jo&feature=related
http://www.angelfire.com/hi2/hawaiiansovereignty/kamintro.html
Excerpts:
1)
Bernice Pauahi Bishop was an extremely wealthy ali'i. As the last living member of the Kamehameha dynasty, she inherited large tracts of land from other Kamehameha descendants. At her death in 1884 she owned about 11% of all the land in Hawai'i. Her estate, which included some extremely valuable lands, was valued at about $300,000 during the probate of her will. Her husband, haole banker Charles Reed Bishop, helped her to set up the Bishop Estate, and he was its first chairman of the board of trustees. After a few small bequests, all her wealth was to be used to establish the Kamehameha Schools and maintain them forever.
At first there were two schools: one for boys, which focused on vocational training for shopworkers and farmers; and one for girls, which focused on home-making skills. The will of the princess had required such a focus, so academic preparation for higher education was not an important part of the program. After about 25 years, some of the school's former pupils who had gone on to become successful businessmen or professionals urged a change of focus toward preparation for high school and college; and gradually the emphasis changed. Today the main campus in Honolulu is one single school for both boys and girls, from elementary through high school, and is primarily focused on a college-preparatory curriculum. Another campus was recently built on a neighbor island, and sometimes Kamehameha School has partnerships with public schools in areas where kanaka maoli make up most of the public school students. Some scholarships are also awarded for graduates going to college.
2)
The U.S. Internal Revenue Service began an investigation of the estate's finances. IRS demanded huge back-taxes on the estate's commercial operations, and threatened to take away its tax-exempt status because of the pattern of mismanagement, insider profiteering, and absurdly low expenditures on education. The State of Hawai'i prosecuted some of the trustees and was successful in getting them removed through judicial decisions and resignations. New temporary trustees were appointed, the management style was changed, a new CEO was hired, and things appear to be improving. The official name of the trust was changed to the name of the school, affirming a renewed central focus on education. The hated and scandal-ridden Bishop Estate is no more, and is now known simply as Kamehameha Schools. For the remainder of this webpage, I shall use the name KS/BE to refer to it, recognizing that the entity being served is Kamehameha Schools, which was created and supported for 115 years by the Bishop Estate.
In April 2001 the Honolulu Star-Bulletin ran a series of articles updating the history of corruption in the relations between KS/BE and the political structure of the State of Hawai'i. Although all five Trustees have been replaced and improvements have been made, questionable practices continue. Here are excerpts from three Star-Bulletin articles, including URLs for the complete articles.
http://www.spacewar.com/reports/Raytheon_DeepSiren_Closes_Submarine_Comms_Gap_At_US_Navy_Arctic_Exercise_999.html
Raytheon DeepSiren Closes Submarine Comms Gap At Arctic Exercise
by Staff WritersWashington DC (SPX) Apr 15, 2011During a U.S. Navy exercise, Raytheon's DeepSiren underwater acoustic communication system bridged a capability gap for submarines operating beneath the Arctic ice by providing on-demand tactical mission and emergency response information.
The system was successfully operated during the Navy's ICEX 2011 exercise conducted by the Arctic Submarine Laboratory far north of the Arctic Circle.
"Raytheon DeepSiren enables operational commanders anywhere in the world to quickly send tactical messages to a submarine operating at speed and depth - even under Arctic ice," said Steve Moynahan, senior engineer, Raytheon Network Centric Systems (NCS), who deployed with DeepSiren to support the exercise. "This addresses one of the most significant shortfalls in submarine communications to provide mission-critical information while the vessel is submerged."
At one point in the exercise, the use of DeepSiren took a real-world turn when the USS New Hampshire, submerged beneath a thick ice cover, needed to quickly find a suitable location to surface and evacuate a sailor stricken with appendicitis. U.S. Navy Capt. Rhett Jaehn, deputy director of operations, Commander, Submarine Force, said, "DeepSiren played a key role in facilitating the evacuation of the sick sailor and was heavily used during the exercise."
Raytheon DeepSiren operates much like a text messaging system, providing submarines with mission essential and tactical information in a short message format.
"The DeepSiren solution addresses a very significant gap in the broad spectrum of underwater communications capabilities," said Brian McKeon, vice president, Raytheon NCS' Integrated Communications Systems.
McKeon added: "The system has been well designed, tested and demonstrated to work reliably over a vast range of oceanographic conditions. DeepSiren employs mature technology rated at TRL (technology readiness level) eight, and it can easily transition into production to support delivery of qualified hardware within months of a purchase order."
At the start of ICEX, the Raytheon system facilitated the rendezvous of participating submarines with a camp established on the ice surface 150 nautical miles north of Prudhoe Bay, Alaska. DeepSiren transmissions from Ice Camp were received by two submarines at distances comparable to those demonstrated in previous at-sea trials and significantly greater than those achieved by other systems.
"Its acoustic transmissions are very much lower in power than typical sonar signals, making it both environmentally friendly and enabling it to operate without causing harmful interference to other acoustic sensor systems," explained Trevor Barron, program technical director, Raytheon NCS. "We were able to very quickly adapt the DeepSiren software-defined acoustic modem to accommodate the unique requirements of the Arctic Submarine Laboratory."
Sumitomo's suit said Morgan lent at least $535 million to the trader, whose spree cost Sumitomo $2.6 billion in losses.
The information was disclosed in a lawsuit that was unsealed yesterday evening in Federal District Court in Manhattan. Sumitomo filed the suit earlier in the week, seeking $735 million in compensation from Morgan for its role in the trading scandal, which came to light in 1996.
The Chase Manhattan Corporation and UBS A.G. of Switzerland have also been sued recently by Sumitomo in connection with the scandal. Chase lent the trader, Yasuo Hamanaka, about $500 million, according to that suit, which Chase has contested.
Morgan, which prides itself on being one of the country's most cautious lenders, is the only bank to have been singled out by United States regulators for its role in the scandal. In 1997, the Federal Reserve Bank of New York reprimanded Morgan for lax controls and supervision in its commodities lending business, largely because Morgan was more financially dependent on Sumitomo as a client than other banks.
http://lizditz.typepad.com/i_speak_of_dreams/2004/06/object_lessons_.html
Excerpt:
A few years ago after a scandal that led to a housecleaning on the board of trustees, the name of the school complex was applied to the name of the estate, a mission reminder to the new management. The value of the Kamehameha Schools is in the billions; the estate’s holdings include a pair of resort hotels, the Royal Hawaiian shopping center, holdings in Las Vegas, two of the largest shopping centers in Wisconsin, and large expanses of timberland in Michigan. The estate’s trustees until recently received a compensation of $1 million per year.
In March, 1999, one of the "new guard" trustees, Gerard Jervis, was discovered having sex with a trust attorney, Rene Ojiri Kitaoka, in a restroom at a hotel in Waikiki. Kitaoka committed suicide next day. A week later, Jervis took an overdose of sleeping pills; he survived, but resigned in August 1999.
http://www.electrifyingtimes.com/toyota_idea_factory.html
Excerpt:
Since 1950, Toyota has not laid a single employee off, worldwide.
Page 129
Ideally, the suggesters themselves should make as many decisions as possible about their own ideas. At Dana Corporation (another company mentioned in the book - ET), it is corporate policy that every employee is the company's top expert in the twenty-five square feet he or she works in have the authority to spend up to $50 on an improvement without the approval of management. Toyota also emphasize action rather than ideas. They don't expect most ideas to be reported to the formal system until after they are implemented.
Federal Reserve/IRS = Private Corporations
http://www.youtube.com/watch?v=VVzkceT521A
http://kingston.ulsterpublishing.com/view/full_story/11406693/article-Big-Blue--briefly
Excerpt:
RFID Chip - IBM Propaganda - What Will You Do?
http://www.youtube.com/watch?v=TMevOTVyU-w&feature=related
Tommy Thompson and the RFID chip
http://www.youtube.com/watch?v=HiLixwNkur8
http://en.wikipedia.org/wiki/IBM_and_the_Holocaust
IBM and the Holocaust is a book by investigative journalist Edwin Black which details the business dealings of the American-based multinational corporation International Business Machines (IBM) and its German and other European subsidiaries with the government of Adolf Hitler during the 1930s and the years of World War II. In the book, Black outlines the way in which IBM's technology helped facilitate Nazi genocide against the Jewish people through generation and tabulation of punch cards based upon national census data.[1]
The following video has been removed so I didn't even put the link here. hmmmm, don cha wonder why? ...cal
Law And Order SVU Season Premier Delves Into RFID And The NWO
Aaron Russo Told About 9/11 in Advance, Verichip
http://www.youtube.com/watch?v=xorR2Yo84Jo&feature=related
http://www.angelfire.com/hi2/hawaiiansovereignty/kamintro.html
Excerpts:
1)
Bernice Pauahi Bishop was an extremely wealthy ali'i. As the last living member of the Kamehameha dynasty, she inherited large tracts of land from other Kamehameha descendants. At her death in 1884 she owned about 11% of all the land in Hawai'i. Her estate, which included some extremely valuable lands, was valued at about $300,000 during the probate of her will. Her husband, haole banker Charles Reed Bishop, helped her to set up the Bishop Estate, and he was its first chairman of the board of trustees. After a few small bequests, all her wealth was to be used to establish the Kamehameha Schools and maintain them forever.
At first there were two schools: one for boys, which focused on vocational training for shopworkers and farmers; and one for girls, which focused on home-making skills. The will of the princess had required such a focus, so academic preparation for higher education was not an important part of the program. After about 25 years, some of the school's former pupils who had gone on to become successful businessmen or professionals urged a change of focus toward preparation for high school and college; and gradually the emphasis changed. Today the main campus in Honolulu is one single school for both boys and girls, from elementary through high school, and is primarily focused on a college-preparatory curriculum. Another campus was recently built on a neighbor island, and sometimes Kamehameha School has partnerships with public schools in areas where kanaka maoli make up most of the public school students. Some scholarships are also awarded for graduates going to college.
2)
The U.S. Internal Revenue Service began an investigation of the estate's finances. IRS demanded huge back-taxes on the estate's commercial operations, and threatened to take away its tax-exempt status because of the pattern of mismanagement, insider profiteering, and absurdly low expenditures on education. The State of Hawai'i prosecuted some of the trustees and was successful in getting them removed through judicial decisions and resignations. New temporary trustees were appointed, the management style was changed, a new CEO was hired, and things appear to be improving. The official name of the trust was changed to the name of the school, affirming a renewed central focus on education. The hated and scandal-ridden Bishop Estate is no more, and is now known simply as Kamehameha Schools. For the remainder of this webpage, I shall use the name KS/BE to refer to it, recognizing that the entity being served is Kamehameha Schools, which was created and supported for 115 years by the Bishop Estate.
In April 2001 the Honolulu Star-Bulletin ran a series of articles updating the history of corruption in the relations between KS/BE and the political structure of the State of Hawai'i. Although all five Trustees have been replaced and improvements have been made, questionable practices continue. Here are excerpts from three Star-Bulletin articles, including URLs for the complete articles.
http://www.spacewar.com/reports/Raytheon_DeepSiren_Closes_Submarine_Comms_Gap_At_US_Navy_Arctic_Exercise_999.html
Raytheon DeepSiren Closes Submarine Comms Gap At Arctic Exercise
 At the start of ICEX, the Raytheon system facilitated the rendezvous of participating submarines with a camp established on the ice surface 150 nautical miles north of Prudhoe Bay, Alaska. DeepSiren transmissions from Ice Camp were received by two submarines at distances comparable to those demonstrated in previous at-sea trials and significantly greater than those achieved by other systems. |
The system was successfully operated during the Navy's ICEX 2011 exercise conducted by the Arctic Submarine Laboratory far north of the Arctic Circle.
"Raytheon DeepSiren enables operational commanders anywhere in the world to quickly send tactical messages to a submarine operating at speed and depth - even under Arctic ice," said Steve Moynahan, senior engineer, Raytheon Network Centric Systems (NCS), who deployed with DeepSiren to support the exercise. "This addresses one of the most significant shortfalls in submarine communications to provide mission-critical information while the vessel is submerged."
At one point in the exercise, the use of DeepSiren took a real-world turn when the USS New Hampshire, submerged beneath a thick ice cover, needed to quickly find a suitable location to surface and evacuate a sailor stricken with appendicitis. U.S. Navy Capt. Rhett Jaehn, deputy director of operations, Commander, Submarine Force, said, "DeepSiren played a key role in facilitating the evacuation of the sick sailor and was heavily used during the exercise."
Raytheon DeepSiren operates much like a text messaging system, providing submarines with mission essential and tactical information in a short message format.
"The DeepSiren solution addresses a very significant gap in the broad spectrum of underwater communications capabilities," said Brian McKeon, vice president, Raytheon NCS' Integrated Communications Systems.
McKeon added: "The system has been well designed, tested and demonstrated to work reliably over a vast range of oceanographic conditions. DeepSiren employs mature technology rated at TRL (technology readiness level) eight, and it can easily transition into production to support delivery of qualified hardware within months of a purchase order."
At the start of ICEX, the Raytheon system facilitated the rendezvous of participating submarines with a camp established on the ice surface 150 nautical miles north of Prudhoe Bay, Alaska. DeepSiren transmissions from Ice Camp were received by two submarines at distances comparable to those demonstrated in previous at-sea trials and significantly greater than those achieved by other systems.
"Its acoustic transmissions are very much lower in power than typical sonar signals, making it both environmentally friendly and enabling it to operate without causing harmful interference to other acoustic sensor systems," explained Trevor Barron, program technical director, Raytheon NCS. "We were able to very quickly adapt the DeepSiren software-defined acoustic modem to accommodate the unique requirements of the Arctic Submarine Laboratory."
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