| Nigeria: Within the Nation - Chukwuma's New Songs
In the last few days, the Governor of the Central Bank of Nigeria, Chukwuma Soludo, a professor of Economics has began a reverse journey from that deep ocean of irrelevant structural functional economics which he and other colleagues in the infamous Obasanjo's economic management team were deeply submerged in throughout the first eight years of this attempt called democratic governance. Readers will remember that Professor Charles Chukwuma Soludo was first introduced into governance as the Chairman of the National Planning Commission and Chief Economic Advisor to the President after the exit of Chief Philip Asiodu in the turn of 2000. The emergence of Soludo came with it some measure of vibrancy characteristic of a young university professor who had tremendous energy to dispense in the process of governance.
Banks Will Revamp Payment Infrastructures In 2008, financial institutions will increasingly test "payment architecture ...
Transformation of payment infrastructures is under way, spurred by payment convergence trends (e.g., checks being converted to ACH and debit cards with credit card-like reward programs) and competitive efforts to stave off commoditization. Banks realize that if they do not begin revamping their payment infrastructures to accommodate market demands and take advantage of technological advancements (e.g., payment gateways), their margins will continue to erode, severely limiting funds for investment in innovation. To fund payment innovation, banks increasingly will turn to a shared-services model in 2008, undertaking service-oriented architecture projects. Because service-oriented architecture projects cut across lines of business and operations, they require a new project-management structure, one that encourages cooperation across all payment stakeholders while simultaneously allowing executive decisions to be made when cooperation stalls.
Hedge Fund Pushes Delta For Merger
Pardus Capital Management, a New York hedge fund, has sent a letter to the management of Delta Air Lines asking it to seek a merger with UAL, the parent of United Airlines, in a deal that would create the world's largest airline. Such a merger could prompt sweeping consolidation in the airline industry. Gordon M. Bethune, former chief executive of Continental Airlines, is working with Pardus, the hedge fund said in the letter. Consultants have identified $585 million in savings the two big airlines, currently No. 2 and No. 3 in the country behind American Airlines, could realize by combining operations. Pardus said in its letter, sent Tuesday night, that it owns 7 million Delta shares, or about a 2.6 percent stake. The proposal comes one year after a bid for Delta by US Airways that ultimately failed.
S&P Analyst Expects Mining Consolidation
Investors can expect more consolidation in the metals and mining sector, and most of that will likely be financed by debt, said a Standard & Poor's credit analyst Friday. The sector, which includes about 50 coal, steel, aluminum and other mining companies, holds about $70 billion in debt, adjusted for certain items, said analyst Marie Shmaruk at S&P's Chemicals, Metals & Mining & Forest Products Hot Topics conference. .
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