Thursday, July 28, 2011
Wage inflation in Australia (POST NOW WITHDRAWN)
So the typo theory is clearly correct.
PS - I am regularly hearing of 300K for skilled mining jobs. Four times that startled me which is why the post.
This is a recent Australian job advert. Rockhampton region - which means the Southern end of the Great Barrier Reef or a short drive from Airlie Beach where it is warm and the sun shines 300 plus days a year.
7 days on, 7 days off. Must be good with explosives.
Salary: AUD1.2 million plus bonus. That is USD1.32 million.
Anyone think they picked the wrong career?
Google Plus thinks I am a social climber...
Here - with only minor editing - are five consecutive suggestions made to me:
I know none of these people though Zuckerberg shares a single Facebook friend with me and I know someone who was in his computer science classes at Harvard.
Google + is getting users fast - and I find myself looking at Facebook much less - but is the appeal of Google + the asymmetric friending process where I can add people like this to my "circles" and pretend that I am far better connected and far more upwardly mobile than in reality?
PS. Does anyone else think it is strange that Zuckerberg winds up in my Google + suggested circle so fast?
Tuesday, July 26, 2011
Hollysys - a blog post inspired by the railway crash
Disclosure for people who do not get my sense of humor: We are short Hollysys.
If you get to the end of the post and do not understand why read the note on the blog as to humor - or just read this.
Hollysys is a Chinese rail technology company listed in the USA (NASDAQ:HOLI).
HollySys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, HollySys has approximately 2,400 employees with 9 sales centers and 13 service centers in 21 cities in China and serves over 1700 customers in the industrial, railway, subway & nuclear industries. Its proprietary technologies are applied in product lines including Distributed Control System (DCS) and Programmable Logic Controller (PLC), high-speed railway Train Control Center (TCC) and Automatic Train Protection (ATP), subway supervisory and control platform (SCADA), and nuclear conventional island automation and control products. HollySys is the largest SCADA systems supplier to China's subway automation market, and is the only certified domestic automation control systems provider to the nuclear industry in China. HollySys is also one of only five automation control systems and products providers approved by China's Ministry of Railways in the 200km to 250km high-speed rail segment, and is one of only two automation control systems and products providers approved in the 300km to 350km high-speed rail segment.
HollySys has achieved a wealth load of automation and control experience in the multiple business sectors such as Electric Power, Renewable Energy, Chemical, Petrochemical, Cement Processing, Mining and Metal Processing, Environment Protection, Pulps and Papers, Factory Machinery and Manufacturing, Railway and Subway, and Nuclear Power Instrumentation and Control. For the past 16 years, the HollySys name has always been standing as a symbol of quality and reliability in China. HollySys offers a wide range of automation and control products from PLCs to DCS to help you find the solution for any automation and process control application. Through our sustainable business and continuous development in the area of automation, we are able to provide users with a complete and total automation solution for the industries process sectors.
Our corporate mission is to be one of the major platform providers in Automation and Control with innovative technological products and solution back by the highest quality of services and support. We hope to utilize our expertise in the arena of automation technology for better work, life, and environment. We are now the global supplier of choice for innovative technology backed by the highest level of service and support. When you need products and solutions you can rely on, choose HollySys.
Since 1995, HollySys starts providing solutions for the nuclear power plant automation in China and since then, we have been continuously providing digital I&C system for the nuclear power plant. Through hardship of innovation and development, HollySys has now self-developed products and solution for the nuclear power plant control system. With more than 10 years of experience and over 40 successful NPP projects, HollySys has both the ability to become very competitive product suppliers and service providers.
- In 1997, HollySys developed China’s first computer control system for the nuclear power plant. The system was exported to Pakistan Chashma 300MW NPP and has been successfully operating ever since.
- In 1998, Qingshan Phase II NPP adopted HollySys DCS system. It is equip with centralized supervision and safety control of the nuclear power plant with system of conventional island design.
- In 2004, HollySys was the first to enter the field of nuclear safety testing and successfully implemented the project of digital safety testing devices.
- In 2005, HollySys became the localized sub-contractor of Ling’Ao Nuclear Power Plant phase II, and undertaking the project implementation for digital I&C system.
- In 2007, HollySys has successfully developed its first generation totally digital I&C system, the HOLLiAS NMS system.By far, HollySys has 44 signed and completed contracts within our nuclear power business unit covering almost all of the China’s Nuclear Power Plant either in construction or in operation. These have put us in the top league in competition among other competitors in China. This vast achievement wins recognition from our customers, at the same time, have proven the reliability and safety of our solution, and the professionalism in our engineering services that we provided.
Cash and cash equivalents
Contract commitment deposit in banks
Accounts receivable, net of allowance for doubtful accounts of $6,276,670 and $8,408,318
Cost and estimated earnings in excess of billings, net of allowance for doubtful accounts of $744,113 and $1,102,016 (note 5)
Other receivables, net of allowance for doubtful accounts of $178,532 and $214,789
Advance to suppliers
Amount due from related parties (note 18)
Inventories, net of provision of $1,114,140 and $2,393,546 (note 4)
Income tax recoverable
Deferred tax assets (note 16)
Deposit for acquisition of equity interest from minority interest
Total current assets
Property, plant and equipment, net (note 6)
Long term investments (note 7)
Long term deferred expenses
Deferred tax assets (note 16)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term bank loans (note 9)
Current portion of long-term bank loans (note 12)
Current portion of long-term bonds payable (note 11)
Construction cost payable
Accrued payroll and related expense
Income tax payable
Warranty liabilities (note 8)
Other tax payables
Amounts due to related parties (note 18)
Deferred tax liabilities (note 16)
Total current liabilities
Long-term b ank loans (note 12)
Long-term bonds payable (note 11)
Land use right
Vehicles and other equipment
Construction in progress
Less: Accumulated depreciation and amortization
The content contained in this blog represents the opinions of Mr. Hempton. You should assume Mr. Hempton and his affiliates have positions in the securities discussed in this blog, and such beneficial ownership can create a conflict of interest regarding the objectivity of this blog. Statements in the blog are not guarantees of future performance and are subject to certain risks, uncertainties and other factors. Certain information in this blog concerning economic trends and performance is based on or derived from information provided by third-party sources. Mr. Hempton does not guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. Such information may change after it is posted and Mr. Hempton is not obligated to, and may not, update it. The commentary in this blog in no way constitutes a solicitation of business, an offer of a security or a solicitation to purchase a security, or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.