(REITS) Real estate investment trusts

Real estate investment trusts

The Chancellor announced finishing touches to his plan for real estate investment trusts, the specialist stock market vehicles for investing in property.


Are "REIT"s that special?
Their distinguishing marks are subtle. In a sense they will be a lot like investment trusts with a particular mandate to invest in property. As with investment trusts, their shares will be traded on the stock market and their capital will be fixed. They will have the potential to own a wide-ranging collection of properties, from shopping centres to offices. Their big attraction is that taxes will only be paid by the investor, not the fund itself.

What are the restrictions?
At least 90 per cent of a "REIT"s net profits must be passed on to shareholders as dividends, although there is no similar requirement on capital gains from sales. Taxable profits must cover the interest bill at least 1.25 times, which limits the amount they can borrow. Also, it is expected that no single investor will be allowed to own more than 10 per cent of the shares in a "REIT".

After some horse trading, the Treasury has decided to levy a conversion charge for the transfer of commercial property holdings into "REIT"s equivalent to 2 per cent of the gross market value of the investments. This move has pleased the property industry which was expecting the conversion charge would be levied as a percentage of unrealised capital gains.

Is this a pioneering step for the UK?
Hardly. As ever, the US led the way, launching the first "REITS" in the 1960s. They also now exist in Australia, Japan, France, Hong Kong, Singapore and Malaysia. The first Israeli "REIT" hit the market in January, the Indians are talking about them and Germany is racing the UK to be the next major country to launch "REITS".

Is there an alternative?
Almost anything investing in property is a potential rival. Big British quoted property companies like British Land and Land Securities allow investors to buy into diversified portfolios of properties. Both have said they will look at converting some of their activities to "REIT" structures.
Open-ended funds investing directly in property are mostly quite recent, but Britannic, Morley, New Star and SWIP all have unit trusts. The few onshore property investment trusts, like TR Property or Trust of Property Shares, have longer records, but invest mainly in other quoted property companies.
The existing funds most like "REITS" are offshore property trusts, including Standard Life Investments Property Income Trust or the £950 million F&C Commercial Property trust.

What has the performance been like?
Property has done very well for years. TR Property’s net asset value has grown by 233 per cent in five years, making it the fourth-best performing investment trust. The offshore funds typically offer yields - the dividend divided by the share price - of 4.5 per cent and their shares trade at a premium to the value of their assets. It is a similar story abroad. US "REITS" have shown compound annual returns, capital and income, of 14.5 per cent for the past 10 years, beating most share indices.

Will a REIT be able to invest in residential property?
When the latest plans were unveiled, there was an intention that "REITS" could provide an alternative investment to, say, buy-to-let properties. However, the main emphasis of "REITS" is initially likely to be the commercial sector.
Can I put a "REIT" into an individual savings account or self-invested personal pension?
The intention is that they should be able to be held in an ISA, a SIPP, a personal equity plan or a child trust fund.

What is day trading?

US investors can trade shares easily anywhere in the country

The news that many people were killed in the stockbroking firm All-Tech in Atlanta has raised concern about the growing practice of day trading.

The huge stock market boom of the last few years has made many Americans into millionaires, and has attracted many others into day trading - the practice of trading shares on a daily basis for profit.

All-Tech is one of the largest day trading firms in the US with about 1,500 active accounts, each trader having to put up $50,000 to open an account.

But the growth of the Internet and of low-cost Internet stockbrokers like Charles Schwab and E-trade has made it easy for private individuals to get involved in the stock market for much less. Each trade now costs as little as $9.95 (£6), and can be carried out from home, or at the offices of many stockbrokers.


A risky gamble

Some people have even given up their day jobs, attracted by the possibility of huge gains on the stock market.

But many people, who have only begun trading in the last few years, have not experienced a severe stock market reverse, only the boom conditions of the last few years.

Although he had not traded since April, witnesses suggested that the man believed to have carried out the killings, Mark Barton, may have sustained big losses in his stock market trading.

On Wednesday, all the major US stock markets fell sharply, on worries that inflation may be on the increase, and interest rates may have to rise.

The Dow Jones Average fell more than 180 points, or 2%, while the Nasdaq stock market, which appeals to many day traders because shares are cheaper, fell by 3% and has dropped by 7% in the past two weeks.

There have already been sharp reversals in some highly speculative stocks, especially in the Internet sector. Stocks like Internet bookseller Amazon.com, which increased in value nearly 10 times in the past year, are now worth only half its value of a few months ago.

Now there are fears of a more general decline in stock prices.

That could hurt not just day traders, but the millions of Americans who have stopped saving and have relied on the gains from their shares to pay for large purchases made on credit.

The boom has spread share ownership widely in the United States, attracted by the promise of ever-increasing wealth.

But it now appears that the risks of day trading could be tragically large as well.

Top 10 to do’s in Paris

Paris boast some of the finest galleries, museums, boutiques and exquisite eateries of Europe. As a tourist on a short break we recommend the following list of top 10 to-dos on your visit to Paris.

1) The "Open top" bus tour. Every tourist city has it, many tourists use it. An easy way to see the city while relaxing and listening to the English commentary provided. Tickets and routes vary depending on what you want to see, but the basic principle is the same. Hop on and off all day long, stopping to see the attractions that catch your eye. With frequent buses and many stops there is no excuse not to be brimming with Parisian culture by the end of the day.

2) The Louvre is arguably the most famous museum / art gallery in the world, hosting some of the most famous masterpieces in the world. Da Vinci’s "Mona Lisa" is just one of a huge collection of renaissance art, sculptures, ceramics and many many more exhibitions. Guided tours, performances, concerts and readings make the Louvre much more than your regular museum. Opening times vary and we recommend checking before hand.

3) Keeping with the theme of iconic Parisian locations, our next recommendation is the Eiffel tower. The top of the tower is 276 metres and you can choose to walk the first 115 metres if you so desire. For the less energetic, there are several lifts available to take you to the top. Two restaurants within the tower (altitude 95 and Le Jules Verne) both provide 365 degree views across Paris, offering one of the most romantic dining experiences available.

4) A more recent "claim to fame" for the city has come thanks to Dan Brown’s bestseller "The Da Vinci Code". There are mixed views about this book but the "Da Vinci code" tour has seen Dan Brown fans from around the world flock to Paris. See the locations made famous in the book while re-tracing the steps of the lead characters, Robert Langdon and Sophie. A must for Dan Brown fans, but book early – there are a lot of them!

5) Moving to a slightly different theme our next recommendation is Disneyland, Paris. Fun for all the family - meet the characters, enjoy the rides, experience a journey through Disney’s television and cinema history. With 4 zones to explore – Animation Courtyard, Frontlot, Production Courtyard and Backlot, you will do well to explore the whole park in one day!

6) City Segway Tours offer a unique way to explore Paris. The Segway, invented by Dean Kamen is designed to operate in pedestrian environments and its unique balancing system makes it one of the safest and enjoyable ways to explore the city. City Segway Tours provide you with your Segway and all necessary safety equipment, and take you on a guided tour of the sights and attractions of Paris. This is becoming a very popular way to see the city so make sure you book in advance.

7) A more "French" way to see Paris is by taking a tour of the city in a chauffer driven Citroen 2CV. An iconic French symbol, the 2CV tour will give you a personalized tour, highlighting all the main attractions. As space is limited, the tour is very personal, with the chauffeur happy to stop as you please, full of knowledge to answer every question.

8) Seeing as you are in the fashion capital of the world, it would be rude not to explore the shopping possibilities of the Champs-Elysees. You will find boutique after boutique, something for everyone and plenty to amuse the window shoppers! After a hard afternoon in the shops, relax at one of the many outdoor café’s and indulge in a bit of people watching.

9) After all that sightseeing you will need somewhere to eat. In the Latin Quarter you will find L’avant-Gout. The chilled atmosphere, high quality, reasonably priced food makes this a great way to enjoy some typical French cuisine. The menu may not change too often but that is because there is no need for change. Continuous, consistent rave reviews have made this restaurant one of the most popular in the city.

10) A great way to end your day is with a few cocktails in Buddha Bar. Located in the middle of the 8th Arrondissement, this stylish bar is filled with fashionable drinkers being looked upon by a giant Buddha. With DJ’s playing ambient tracks it is the perfect place to relax after a hard days sightseeing.

10 Powerful Ways To Grow Your Income

1. Don't forget to follow up with your customers. You could follow up with a related product, service or affiliate program. Follow up every month or so with a new product and watch your wallet grow.

2. You can always upsell to your customers. When they reach your order page, let them know about a few extra related products that you sell. This is a great way to squeeze more profit from each customer.

3. Let your customers refer new customers for a full rebate of their purchase. This could easily turn one sale into three or four.

4. Let your customers know about your affiliate program. Work in how they only have to refer a few people in order to pay back their purchase price and make a profit.

5. Sell resell rights to your product or even sell a brandable version. You can include an ad for similar products and make money off of the sales and also make money selling the resell rights to your product as a back end.

6. Create a package with other people’s products. You could include a sample and offer the product owners a portion of the referral sales from the sample. This is an easy way of having other people sell your product for you.

7. Offer your customers a discount on a related product. Since they all ready have built a relationship with them, you could push a higher ticket product.

8. Send your customers offers for add-ons to your original products. You could easily offer upgrades, related services, software and so on. If they enjoyed the original product, they’ll buy the add-ons.

9. Sell gift certificates for your products. You'll make money from the sales of the gift certificates and you can follow up with related products in order to profit from future sales.

10. Send your customers freebies. You could place an ad for your website on bumper stickers, baseball hats, t-shirts and so forth. Through indirect exposure, people will visit your website and purchase.

Contractors flock to RFID 'gold rush'

IT professionals are flocking to a four-day course in radio frequency identification technology (RFID) that is earning contractors in excess of £55 an hour, industry trainers have revealed.

Launched by The Training Camp in January, the fast-track course is being inundated by both permanent and contract IT staff hoping to take advantage of the RFID ‘gold rush.’

Participants need no prior experience, as the course teaches contractors how to install, configure and manage electronic tags, while teaching vital “skills and knowledge to work in an RFID using environment.”

This includes training contractors so they master how to configure RFID hardware and software, equipping then with a basic knowledge of interrogation zone basics, testing, design selection and troubleshooting.

A spokesperson for the Training Camp told Contractor UK contractors holding its CompTIA RFID certification are commanding hourly rates of £55 upwards.

“Our course can be completed in four days, meaning experienced contractors can quickly gain the latest skills.

“To date, there has been massive demand from permanent and freelance IT workers…from both new and experienced candidates seeking to take advantage of the RFID gold rush,” the spokesperson said.

Yesterday, one group supporting the accelerated course, the Computing Technology Industry Association, said a growing number of large companies believe RFID deployment is suffering at the hands of a skills shortage.

Eight out of ten organisations responding to the Association said a lack of individuals skilled in RFID will impact adoption, while 75 per cent simply feel there is an absence of suitably skilled practitioners.

That figure is down slightly from a similar survey conducted in 2005, when 80 percent of respondents said there was a shortage of RFID talent.

“RFID is a complex and still evolving technology, and expertise is absolutely required for its usage to be a success,” said David Sommer, vice president at CompTIA.

“The skill sets and ‘need-to-knows’ related to RFID are many and varied. Clearly there is work to be done in our industry in terms of RFID education, training and professional certification.”

For contractors already experienced in RFID, the Association will reveal a certification course on March 28, for those with 6-24 months of experience in RFID or related technologies.

Among the skills the certification exam will test are installation, configuration and maintenance of RFID hardware and device software; site surveys and site analysis; and tag selection, placement and testing.

Back in the UK, leading recruitment agents said telcos, retail and logistics clients currently offer the most opportunities for contractors skilled in RFID.

Meanwhile, The Training Camp said its most popular course among contractors and freelance consultants continues to be IT Infrastructure Library course, since the programme launched last year.

The internationally recognised course aims at arming IT professionals with the skills and knowledge of best practice IT service management.

“Since its introduction, ITIL has become widely used in both the public and private sectors,” a spokesperson said.

“[It] is now the UK's de facto standard for project management.”

Prince - New Album called "3121"

WOW! The whole album has threads of other sounds through it.

3121 - Voices of Camille and experimental guitar (Bit like la,la,la,he,he,he)
Lolita - Dance floor beats. Cool track though
Te Amo Corazon - Sweet love song (typical Prince)
Black Sweat - Would have fitted better on the "Black" Album or "Emancipation"
Incense and Candles - A bit "Craig David" (Prince doing Craig doing Prince??)
Love - Could have been from the "Come" album, bit like Pheromone
Satisfied - Prince, Hornz, Slow rhythm and love (Very Special)
Fury - Very "Purple Rain" era, a pure mixed of electric keyboard and guitar
The Word - Craig David again (I know Prince came before Craig) with some Santana-esque guitar
Beautiful, Loved & Blessed - Duet with new protogue "Tamar"
The Dance - A Sweet love song with a haunting sound to it
Get on the Boat - Big Hornz

The world's gone 'Mobile'!

This is my first post to the blog from a hand held computer! Definitely won't be the last time!

This posting was submitted from an Orange PocketPC M1000

Peace!