Domestic credit to private sector in 2005

Working capital (abbreviated WC) is a financial metric which represents operating liquidity available to a business, organization or other entity, including governmental entity. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. Net working capital is calculated as current assets minus current liabilities. It is a derivation of working capital, that is commonly used in valuation techniques such as DCFs (Discounted cash flows). If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit.

A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash. Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable, and cash.

Calculation[link]

Current assets and current liabilities include three accounts which are of special importance. These accounts represent the areas of the business where managers have the most direct impact:

• accounts receivable (current asset)
• inventory (current assets), and
• accounts payable (current liability)

The current portion of debt (payable within 12 months) is critical, because it represents a short-term claim to current assets and is often secured by long term assets. Common types of short-term debt are bank loans and lines of credit.

An increase in working capital indicates that the business has either increased current assets (that is has increased its receivables, or other current assets) or has decreased current liabilities, for example has paid off some short-term creditors.

Implications on M&A: The common commercial definition of working capital for the purpose of a working capital adjustment in an M&A transaction (i.e. for a working capital adjustment mechanism in a sale and purchase agreement) is equal to:

Current Assets – Current Liabilities excluding deferred tax assets/liabilities, excess cash, surplus assets and/or deposit balances.

Cash balance items often attract a one-for-one purchase price adjustment.

Working capital management[link]

Corporate finance
Working capital
Cash conversion cycle Return on capital Economic Value Added Just-in-time Economic order quantity Discounts and allowances Factoring
Capital budgeting
Capital investment decisions The investment decision The financing decision
Sections
Managerial finance Financial accounting Management accounting Mergers and acquisitions Balance sheet analysis Business plan Corporate action
Societal components
Financial market Financial market participants Corporate finance Personal finance Public finance Banks and banking Financial regulation Clawback
v t e

Decisions relating to working capital and short term financing are referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses.

Decision criteria[link]

By definition, working capital management entails short term decisions - generally, relating to the next one year period - which are "reversible". These decisions are therefore not taken on the same basis as Capital Investment Decisions (NPV or related, as above) rather they will be based on cash flows and / or profitability.

• One measure of cash flow is provided by the cash conversion cycle - the net number of days from the outlay of cash for raw material to receiving payment from the customer. As a management tool, this metric makes explicit the inter-relatedness of decisions relating to inventories, accounts receivable and payable, and cash. Because this number effectively corresponds to the time that the firm's cash is tied up in operations and unavailable for other activities, management generally aims at a low net count.

• In this context, the most useful measure of profitability is Return on capital (ROC). The result is shown as a percentage, determined by dividing relevant income for the 12 months by capital employed; Return on equity (ROE) shows this result for the firm's shareholders. Firm value is enhanced when, and if, the return on capital, which results from working capital management, exceeds the cost of capital, which results from capital investment decisions as above. ROC measures are therefore useful as a management tool, in that they link short-term policy with long-term decision making. See Economic value added (EVA).

• Credit policy of the firm: Another factor affecting working capital management is credit policy of the firm. It includes buying of raw material and selling of finished goods either in cash or on credit. This affects the cash conversion cycle.

Management of working capital[link]

Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and the short term financing, such that cash flows and returns are acceptable.

• Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs.
• Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow. Besides this, the lead times in production should be lowered to reduce Work in Process (WIP) and similarly, the Finished Goods should be kept on as low level as possible to avoid over production - see Supply chain management; Just In Time (JIT); Economic order quantity (EOQ); Economic quantity
• Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital (or vice versa); see Discounts and allowances.
• Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert debtors to cash" through "factoring".

See also[link]

• Cash conversion cycle
• Working capital management
• Overtrading
• Quick ratio analysis
• Sustainable growth rate

This article may require cleanup to meet Wikipedia's quality standards. No cleanup reason has been specified. Please help improve this article if you can; the talk page may contain suggestions. (August 2011)

DJ Earworm in Sentosa in 2009.

Jordan Roseman (aka DJ Earworm) is a San Francisco-based mashup artist who has achieved recognition for his technically sophisticated, songwriting oriented music and video mashups.^[1][2] His annual “United State of Pop” mashups, short mixes featuring the top 25 songs of the year according to Billboard magazine, have reached the Top 100 for national radio play.^[3]

Biography[link]

Roseman was born into a big family of musicians and raised in eastern Iowa and Evanston, Illinois.^[2][4] In his early life, he played piano and produced original electronic music on a computer, later majoring in music theory and computer science at the University of Illinois. He began using ACID recreationally in 2003. After encouragement from DJ Adrian at Club Bootie, Roseman created the moniker DJ Earworm ("earworm" referencing a song that repeats uncontrollably in one's mind) and began releasing mashups via a website.^[5]

DJ Earworm has a unique mashup style that consists of a compositional, songwriting approach. He gradually layers samples on top of one another, matching keys and subtly altering melodies. His mashups often convey an entirely new meaning than the original material, such as a political message in “No More Gas”. He has been contrasted with mashup artist Girl Talk, who has a more DJ-oriented style.^[6]

He is the author of Audio Mashup Construction Kit (Wiley, 2006), a how-to manual for creating mashups.^[7]

At the 2008 IDEA conference, he revealed that he has made mashups using Ableton Live₨, and now DJs live with the same software.^[8]

"United State of Pop" series[link]

2007[link]

Earworm's 2007 mashup, "United State of Pop” consisted of the top 25 songs of 2007 according to Billboard.^[9] The song crossed beyond the online download market, reaching the Top 100 for national radio play in February 2008. Earworm is the first mashup artist to have a bootleg mashup enter Billboard’s charts.^[10] As of August 12, 2011, the song has surpassed 4.5 million views on YouTube, and it has peaked at number 71 on the CHR/Top 40 Mediabase radio chart.^{[citation needed]}

Mix Includes:

• "Irreplaceable" - Beyoncé
• " Umbrella" - Rihanna feat. Jay-z
• "The Sweet Escape" - Gwen Stefani feat. Akon
• "Big Girls Don't Cry" - Fergie
• "Buy U a Drank (Shawty Snappin')" - T-Pain feat. Young Joc
• "Before He Cheats" - Carrie Underwood
• "Hey There Delilah" - Plain White T's
• " I Wanna Love You" - Akon feat. Snoop Dogg
• "Say It Right" - Nelly Furtado
• " Glamorous" - Fergie feat. Ludacris
• "Don't Matter" - Akon
• "Girlfriend" - Avril Lavigne
• "Makes Me Wonder" - Maroon 5
• "Party Like a Rockstar" - Shop Boyz
• "Smack That" - Akon feat. Eminem
• "This Is Why I'm Hot" - Mims
• "It's Not Over" - Daughtry
• "The Way I Are"- Timbaland feat. Keri Hilson
• "Fergalicious" - Fergie
• "Crank That (Soulja Boy)" - Soulja Boy Tell 'Em
• "Give It to Me" - Timbaland feat. Justin Timberlake and Nelly Furtado
• "What Goes Around... Comes Around" - Justin Timberlake
• "Cupid's Chokehold" - Gym Class Heroes feat. Patrick Stump
• "How to Save a Life" - The Fray
• "Home" - Daughtry

2008[link]

On December 25, 2008 he released another mashup called "United State of Pop 2008 (Viva la Pop)", prominently featuring Coldplay's song "Viva la Vida" as the backing track, and an intro by Natasha Bedingfield's Pocketful of Sunshine beat. The official YouTube video of the song had 200,000 views within the first two weeks of release. The mashup peaked at number 58 on Billboard's Pop Airplay chart, and entered the Pop 100 chart.^[11] As of December 13, 2011, the video has received over 9.5 million views on YouTube, and it has peaked at number 81 on the CHR/Top 40 Mediabase radio chart.^{[citation needed]}

Mix Includes:

• "Low" - Flo Rida feat. T-Pain
• "Bleeding Love" - Leona Lewis
• "No One" - Alicia Keys
• "Lollipop"- Lil Wayne feat. Static Major
• "Apologize" - One Republic feat. Timbaland
• "No Air" - Jordin Sparks and Chris Brown
• "Love Song" - Sara Bareilles
• "Love in This Club" - Usher feat.Young Jeezy
• "With You" - Chris Brown
• "Forever" - Chris Brown
• "Sexy Can I" - Ray J feat. Young Berg
• "Take a Bow" - Rihanna
• "Viva La Vida" - Coldplay
• "I Kissed a Girl" - Katy Perry
• "Whatever You Like" - T.I.
• "Disturbia" - Rihanna
• "Don't Stop the Music" - Rihanna
• "Pocketful of Sunshine" - Natasha Bedingfield
• "Kiss Kiss" - Chris Brown feat. T-pain
• " Closer" - Ne-Yo
• "Bubbly" - Colbie Caillat
• "Touch My Body" - Mariah Carey
• "4 Minutes" - Madonna feat. Justin Timberlake and Timbaland
• "So What" - Pink
• "Paralyzer" - Finger Eleven

2009[link]

On December 27, 2009 he released a third year-end mashup, "United State of Pop 2009 (Blame it on the Pop)" ^[12] The music video has reached over 40.2 million views as of December 13, 2011.

Mix Includes:

• "Boom Boom Pow" - The Black Eyed Peas
• "Poker Face" - Lady Gaga
• "Just Dance" - Lady Gaga feat.Colby O'Donis
• "I Gotta Feeling" - Black Eyed Peas
• "Love Story" - Taylor Swift
• "Right Round" - Flo Rida feat. Kesha
• "I'm Yours" - Jason Mraz
• "Single Ladies (Put a Ring on It)" - Beyoncé
• " Heartless" - Kanye West
• "Gives You Hell" - All-American Rejects
• "You Belong with Me" - Taylor Swift
• "Dead and Gone" - T.I feat. Justin Timberlake
• "You Found Me" - The Fray
• "Use Somebody" - Kings of Leon
• "Knock You Down" - Keri Hilson feat. Kanye West & Ne-Yo
• "Blame It" - Jamie Foxx feat. T-Pain
• "I Know You Want Me (Calle Ocho)" - Pitbull
• "Live Your Life" - T.I feat. Rihanna
• "Kiss Me Thru the Phone" - Soulja Boy Tell 'Em feat. Sammie
• "Down" - Jay Sean feat. Lil Wayne
• "The Climb" - Miley Cyrus
• "Best I Ever Had" - Drake
• "My Life Would Suck Without You" - Kelly Clarkson
• " Halo" - Beyoncé
• "Hot n Cold" - Katy Perry

2010[link]

On December 28, 2010 he released the fourth year-end mashup, "United State of Pop 2010 (Don't Stop the Pop), which includes the top 25 singles of 2010. The music video has reached over 13.6 million views as of December 5, 2011.

Mix Includes:

• "Tik Tok" - Kesha
• "Need You Now" - Lady Antebellum
• "Hey, Soul Sister" - Train
• "California Gurls" - Katy Perry feat. Snoop Dogg
• " OMG" - Usher feat. Will.I.Am
• "Airplanes" - B.o.B feat. Hayley Williams
• "Love the Way You Lie" - Eminem feat. Rihanna
• "Bad Romance" - Lady Gaga
• "Dynamite" - Taio Cruz
• "Break Your Heart" - Taio Cruz feat. Ludacris
• "Nothin' on You" - B.o.B feat. Bruno Mars
• "I Like It" - Enrique Iglesias feat. Pitbull
• "BedRock" - Young Money Entertainment feat. Lloyd
• "In My Head" - Jason Derülo
• "Rude Boy" - Rihanna
• "Telephone" - Lady Gaga feat. Beyonce
• "Teenage Dream" - Katy Perry
• "Just The Way You Are" - Bruno Mars
• "Cooler Than Me" - Mike Posner
• "Imma Be" - The Black Eyed Peas
• "Empire State of Mind" - Jay-Z feat. Alicia Keys
• "DJ Got Us Fallin' in Love" - Usher feat. Pitbull
• "Billionaire" - Travie McCoy feat. Bruno Mars
• "Not Afraid" - Eminem
• "Replay" - Iyaz

2011[link]

The fifth year-end mashup, "United State of Pop 2011 (World Go Boom)" was released on December 25 2011. This was the first time this was not based on the Billboard Year-End Hot 100 chart, but on the weekly charts throughout the year, which "ensures that all the late-breaking hits are included in the 2011 mix".^[13] It used a combination of Rihanna's "We Found Love" , Katy Perry's Last Friday Night (T.G.I.F.) , Lady Gaga's Born This Way, and Britney Spears' "Till The World Ends" as the backing track. The music video for "United State of Pop 2011 (World Go Boom)"^[14] was viewed over 1.4 million times within the first day of release on YouTube.

The mashup included the following songs:

• "Rolling In The Deep" - Adele
• "Someone Like You" - Adele
• "Just Can't Get Enough" - Black Eyed Peas
• "Grenade" - Bruno Mars
• "The Lazy Song" - Bruno Mars
• "Till The World Ends" - Britney Spears
• "F*** You!" - Cee Lo Green
• "Tonight (I'm Lovin' You)" - Enrique Iglesias
• "Pumped Up Kicks" - Foster the People
• "On The Floor" - Jennifer Lopez
• "Down On Me" - Jeremih feat. 50 Cent
• "Firework" - Katy Perry
• "E.T." - Katy Perry
• "Last Friday Night (T.G.I.F.)" - Katy Perry
• "Born This Way" - Lady Gaga
• "Party Rock Anthem" - LMFAO
• "Sexy and I Know It" - LMFAO
• "The Show Goes On" - Lupe Fiasco
• "Moves Like Jagger" - Maroon 5
• "Super Bass" - Nicki Minaj
• "Good Life" - OneRepublic
• "Raise Your Glass" - Pink
• "Give Me Everything" - Pitbull
• "S&M" - Rihanna
• "We Found Love" - Rihanna

Earworm states that "It doesn't match Billboard's U.S. year-end list, since I'm basing it off of the weekly lists this year in order to more reflect what was actually popular during 2011. Because of the Billboard's early cut off date and their emphasis on chart longevity, songs that are released after August are either split between the two years tor moved to the next year. I also don't want a track appearing two years in a row just because it happened to be peaking right at the cutoff. From my perspective, a song for a aveyear-end mix belongs in the year it will be remembered from, not the year it ended its run. For instance, "We Found Love", which has been #1 for the last 8 weeks of the year, is nowhere to be seen in Billboard's Top 25, and may not make it next year either due to the bias of the cut-off date. As a bonus I am able to spend more time on the mixes and more fully realize them."

Official Mashups[link]

While most mashup artists must rely on bootleg samples and public releases to make mashups, Earworm has been contacted by prominent musicians to make mashups from their source material. DJ Earworm was given multitracks by Annie Lennox to create a unique mashup piece called "Backwards/Forwards," which contains nine of her songs.

On September 12, 2009, Earworm released an official Sean Kingston mashup called "A Beautiful Mashup."

Like OMG, Baby[link]

"Like OMG, Baby", released in the summer of 2010, was shown as part of a concert at Wembley Stadium in London for Capital FM's Summertime Ball, where all fifteen of the featured artists performed. The mashup is Earworm's fourth song to chart on the CHR/Top 40 Mediabase radio chart, where it peaked at number 83. As of August 8, 2011, the video has received 10.2 million views and counting on YouTube, making it by far his most popular non-United State of Pop mashup and surpassing the 2008 year-end video. In 2011 the song was honored with two Sony Radio Academy Awards.^[15] Here is the list of songs used:

1. Alexandra Burke - All Night Long
2. Cheryl Cole - Fight For This Love
3. Chipmunk feat. Esmee Denters - Until You Were Gone
4. Dizzee Rascal - Bonkers
5. Ellie Goulding - Starry Eyed
6. Jason Derulo - In My Head
7. JLS - One Shot
8. Justin Bieber - Baby
9. Ke$ha - Tik Tok
10. Pixie Lott - Mama Do (Uh Oh, Uh Oh)
11. Rihanna - Rude Boy
12. Scouting For Girls - This Ain't a Love Song
13. Tinie Tempah - Pass Out
14. Usher feat. Will.I.Am - OMG
15. The Wanted - All Time Low

Free At Night[link]

On December 10, 2010, Earworm released a Nelly Furtado mashup titled "Free At Night", composed of 13 songs from Furtado's recent greatest hits album, The Best of Nelly Furtado. The music video has over 541,000 views as of August 8, 2011. Here is the list of songs used:

1. I'm Like a Bird
2. Turn Off the Light
3. Powerless (Say What You Want)
4. Try
5. Força
6. Promiscuous
7. Maneater
8. Say It Right
9. All Good Things (Come To An End)
10. Girlfriend in This City
11. Night Is Young
12. Stars
13. Manos al Aire

The Only Time is Tonight[link]

To promote YouTube's Android app, Earworm released a mashup called "The Only Time is Tonight". The mashup heavily used Enrique Iglesias's "Tonight (I'm Lovin' You)" instrumental and vocals. It was released on May 31, 2011 on YouTube's official account.^[16] On August 22, 2011, the video reached over 1.5 million views. Recently the official video for "The Only Time is Tonight" has been made unavailable for viewing on YouTube and DJ Earworm's website, although the audio for the mashup is available for download on djearworm.com ^[17] and unofficial copies of the original video are still posted on YouTube. ^[18] Here is the list of songs used:

1. Avril Lavigne - What the Hell
2. Black Eyed Peas - The Time (Dirty Bit)
3. Chris Brown - Yeah 3x
4. Enrique Iglesias - Tonight (I'm Lovin' You)
5. Kesha - We R Who We R
6. Rihanna - Only Girl (In the World)
7. Willow Smith - Whip My Hair

Party on the Floor[link]

Following up the previous year's "Like OMG, Baby", Earworm released another UK-oriented summertime mashup on June 12, 2011. It is entitled, "Party On The Floor". As of March 17, 2012, the music video has reached over 7 million views. This mash up was used at the start of the Capital FM summertime ball 2011 at Wembley Stadium. Here are the songs used:

1. Jennifer Lopez feat. Pitbull - On the Floor
2. Jessie J - Do It Like A Dude
3. Jessie J feat. B.o.B.- Price Tag
4. LMFAO feat. Lauren Bennett & GoonRock - Party Rock Anthem
5. Nicole Scherzinger - Don't Hold Your Breath
6. Example - Changed the Way You Kiss Me
7. Mike Posner - Cooler Than Me
8. Ne-Yo - Beautiful Monster
9. The Wanted - Glad You Came
10. Far East Movement feat. The Cataracs & Dev - Like A G6
11. JLS feat. Tinie Tempah - Eyes Wide Shut
12. JLS - Love You More
13. Katy B - Katy on a Mission
14. Katy B feat. Ms. Dynamite - Lights On
15. Cee-Lo Green - Forget You
16. Cee-Lo Green feat. Wiz Khalifa - Bright Lights, Bigger City
17. Enrique Iglesias feat. Pitbull - I Like It
18. Wretch 32 - Traktor
19. Mann - Buzzin'

References[link]

External links[link]

• DJ Earworm Homepage

This article may require copy editing for grammar, style, cohesion, tone, or spelling. You can assist by editing it. (February 2012)

Max Keiser
Max Keiser in a London taxi
Born	Timothy Maxwell Keiser (1960-01-23) January 23, 1960 (age 52) New Rochelle, New York
Education	NYU
Occupation	Journalist
Notable credit(s)	Hollywood Stock Exchange, People & Power, The Oracle with Max Keiser, Karmabanque
Relatives	German and Scottish Ancestry, Hugh Maxwell, V 1777-1860
Website
http://maxkeiser.com

Timothy Maxwell "Max" Keiser (born January 23, 1960) is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT (formerly Russia Today).^[1] Keiser also anchors On the Edge, a program of news and analysis hosted by Iran's Press TV.^[2] He hosted the New Year's Eve special, The Keiser's Business Guide to 2010 for BBC Radio 5 Live.^[3] Keiser presented a season of The Oracle with Max Keiser on BBC World News. Previously he produced and appeared regularly in the TV series People & Power on the Al-Jazeera English network. He also presents a weekly show about finance and markets on London's Resonance FM, as well as writing for The Huffington Post.^[4]

In addition to his broadcasting work Keiser is known for his invention of "Virtual Specialist Technology", a software system used by the Hollywood Stock Exchange.

Early career[link]

Keiser has been involved with markets and finance for 25 years. He started his career as a stock broker on Wall Street after graduating from New York University.

Hollywood Stock Exchange[link]

Keiser is the creator, co-founder and former CEO of HSX Holdings/Hollywood Stock Exchange, later sold to Cantor Fitzgerald.^[5] Alongside Michael R. Burns, he co-created the Hollywood Stock Exchange, ^[6] which allows traders to exchange virtual securities, such as "MovieStocks" and "StarBonds", with convertible virtual currency, the Hollywood Dollar.

Keiser is also the co-founder of HSX films, which went on to make almost a dozen films including Mixed Signals, Six-String Samurai, Dancer, Texas Pop. 81 and Girl. The company was bought by Ignite Entertainment/Lionsgate.

Broadcasting career[link]

Keiser presented Rumble at the Box Office^[7] for NBC's Access Hollywood. He also produced and hosted the weekly talk show Buy, Sell, Hold for CBS radio's KLSX in Los Angeles. Currently, he presents The Truth About Markets on Resonance 104.4 FM in London and on RDU 98.5 in Christchurch, New Zealand.

[edit] People & Power

Keiser produced ten short documentary films covering aspects of financial markets for Al Jazeera's series People & Power.^[8] The films include Rigged Markets,^[9] Money Geyser,^[10] Death of the Dollar,^[11] Peaked,^[12] Extraordinary Antics,^[13] Savers vs Speculators,^[14] Banking On It,^[15] Private Finance or Public Swindle?^[16] and Focus on Locusts.^[17]

[edit] The Oracle with Max Keiser

A pilot episode was produced for Al-Jazeera English titled The Oracle. This was developed into a series for BBC World News.^[18] The series first aired on 9 January 2009 and ran for ten episodes. It explored financial current affairs from the perspective of prediction markets. It was intended to be a humorous take on financial news before it happens.

[edit] On The Edge

A weekly financial commentary show which started in 2009 and is broadcast on Press TV, featuring interviews with well known alternative economists.^[19]

[edit] The Keiser Report

Since September 2009, Keiser has hosted The Keiser Report with financial news and analysis, on the RT network. The 30-minute program is produced three times a week. Stacy Herbert is the co-host and banters with Max on headlines and commentary.^[20]

An episode broadcast in September 2011 featured an interview with comedienne Rosanne Barr who stated that her solution to the financial crisis was to "bring back the guillotine".^[21]

Financial punditry[link]

Keiser has appeared as a financial pundit on a number of news networks. Keiser called for a "fatwā" against Hank Paulson^[22] on Al Jazeera in response to the Troubled Asset Relief Program (TARP). In a later broadcast Keiser said "Paulson stinks".^[23] Keiser has advised investors to buy silver bullion and physical silver, promoting the metal as a store of value.

Activism[link]

Karmabanque[link]

Keiser founded the hedge fund Karmabanque, which sought to profit from any decline in equity-value of companies that are susceptible to boycott from environmental groups.^[24] The hedge fund's progress was followed monthly in The Ecologist magazine.^[25] Its targets included Coca-Cola^[26] and McDonald's.

The Karmabanque hedge fund project was designed to simultaneously short-sell companies while funnelling profits into environmental and ethical-business pressure groups which further act to drive down the price. Describing the project Keiser stated, "The Internet allows people, activists, from all over the world to gather, or swarm, and hit a company where it hurts most - in their stock price".^[27]

Extraordinary Antics[link]

In the Al-Jazeera short film Extraordinary Antics,^[28] Keiser travelled to Milan and Venice to find out how CIA station chief Robert Seldon Lady and his fellow CIA agents spent $500,000 on a procedure known as extraordinary rendition - a practice which is illegal and caused an Egyptian citizen, who had been granted asylum in Italy, to be abducted in order to face torture in Cairo.

The CIA was prosecuted for the case and Mr. Lady was found guilty in a Milan court. He was sentenced on 9 November 2009 to nine years in prison according to the Guardian.^{[citation needed]} This verdict was upheld on appeal. The US refuses to extradite Mr. Lady to Italy.^[29]

Crash JP Morgan - buy silver[link]

Max Keiser has labeled JPMorgan "the biggest financial terrorist on Wall St" in relation to their alleged manipulation of the price of silver.^[30] Keiser started a campaign called "Crash JP Morgan - buy silver",^[31][32][33] whereby people buy silver, thus raising its price and leaving JPMorgan with a huge short position to cover, the margin of which are collateralized by JPMorgan's own stock price, bankrupting itself. Based on the collateralization of silver by the price of its shares and his allegation that JPMorgan's position is an overwhelmingly large naked short position, Keiser predicted that the a per-ounce silver price exceeding JPMorgan's stock price will not only crash JPMorgan but unsettle the underpinnings of the dollar, which he claims are essentially confetti.

Adweek magazine described Keiser as "the most visible character in an underground movement that has spurred hundreds of blog posts and videos, and played some small part in driving up the price of precious metals".^[34] However, Keiser's prediction that JPMorgan would go bust if silver hit 47 dollars has failed to materialise, drawing criticism from the financial community.

Criticism[link]

• The Guardian newspaper, in an item titled "Mad Max", described Keiser's Karmabanque hedge fund as a "fantastical scheme" and accused him of trying to exist "beyond the normal forces and controls of society".^[35]

• Keiser drew criticism at the 2000 ShowBiz Expo in Las Vegas when he said of media content that "Everything is inescapably going to a price point called free". In response Kevin Tsujihara, executive V.P. of New Media at Warner Bros., commented that "Piracy.com" will be the victor if superior content is available on sites supported by advertisements.^[36]

• In 2005 Steven Milloy, the "Junk Science" commentator, demanded that Keiser be removed from the panel of the Triple Bottom Line Investing conference, where he was scheduled to appear. Milloy accused Keiser of making threats against his organization^[37] and petitioned sponsors Calvert Investments and KLD Research & Analytics to withdraw from the project.^[38] Robert Rubenstein, founder of conference organiser Brooklyn Bridge, stated that Keiser's comments "do not constitute a threat to person or property and are not related to the conference or the content that will be presented there".

• Referring to Keiser's Karmabanque project, a spokeswoman for Ryanair said, "Since they put Ryanair on their list our share price has gone up by 10%. We are always delighted to be part of a list which includes Coca-Cola, Starbucks and Wal-Mart".^[39] However, on the same day The Hindu published an article in which Howard Millar, Ryanair deputy chief executive, admitted that his company may be vulnerable to environmental pressure groups, stating, "I am concerned that there is a continuing media campaign and the concern is that people might say 'maybe I will not fly on holiday and maybe I will make a different choice'".^[40]

See also[link]

Biography portal

• Error account - a term often mentioned by Max Keiser
• Central bank or Reserve bank
• Gold standard - where paper currency is backed up by the value of gold
• Hollywood Accounting

References[link]

External links[link]

• MaxKeiser.com Max Keiser's website
• chaostheorien.de Interview with Max Keiser at chaostheorien.de

Brandon Jennings

Jennings with the Bucks
No. 3 – Milwaukee Bucks
Point guard
Personal information
Born	(1989-09-23) September 23, 1989 (age 22) Compton, California
Nationality	American
High school	Dominguez HS (Compton, California) Oak Hill Academy (Mouth of Wilson, Virginia)
Listed height	6 ft 1 in (1.85 m)
Listed weight	169 lb (77 kg)
Career information
NBA Draft	2009 / Round: 1 / Pick: 10th overall
Selected by the Milwaukee Bucks
Pro career	2008–present
Career history
2008–2009	Lottomatica Roma (Italy)
2009–present	Milwaukee Bucks
Career highlights and awards
NBA All-Rookie First Team (2010) Naismith Prep Player of the Year (2008)

Brandon Jennings (born September 23, 1989) is an American professional basketball player for the Milwaukee Bucks of the National Basketball Association (NBA) who plays at point guard.

Jennings was a highly acclaimed high school player, averaging 32.7 points and 7.4 assists as a senior, and won all major player of the year awards in his senior year. After graduating from Oak Hill Academy, he decided to play professional basketball with the Italian club Lottomatica Roma instead of playing collegiately for the University of Arizona Wildcats, leading to controversy and debate on the NBA's "prep-to-pro" policy adopted in 2006. After a year in Italy, Jennings declared for the 2009 NBA Draft and was selected 10th overall by the Bucks.

Early life[link]

Brandon Jennings was born to Alice Knox. He has a brother named Terrence Phillips.^[1]

High school[link]

Jennings attended Dominguez High School in Compton, California for his freshman and sophomore year. Before his junior year, Jennings transferred to powerhouse Oak Hill Academy in Mouth of Wilson, Virginia. In his last year of high school, Jennings averaged 32.7 points, 7.4 assists, and 5.1 rebounds per game^[2] and set the school record for points in a season. This performance earned him some of high school basketball’s most prestigious awards: the 2008 Naismith Prep Player of the Year Award, 2007–08 Gatorade Player of the Year (Virginia), 2008 Parade Magazine Player of the Year and 2008 EA Sports Player of the Year. He led his 2006–2007 team to a 41–1 record and the top ranking in the USA Today Super 25 list of high school teams.^[3] He was rated as the nation's #1 high school basketball prospect in the class of 2008 by Scout.com,^[4] the #1 prospect in the ESPNU 150,^[5] and the #4 prospect by Rivals.com.^[6]

College plans[link]

In August 2006, he chose to attend USC. On April 24, 2007, he decided instead to join the University of Arizona Wildcats, citing Arizona's quality academic faculty and his desire to play with Jerryd Bayless. (Bayless left after one season to enter the 2008 NBA Draft.)^[7] In November 2007, SLAM Magazine’s third edition of PUNKS featured Jennings on the cover along with three other top-rated high school guards (Jrue Holiday, Tyreke Evans and Lance Stephenson).^[8][9]

In June 2008, Jennings attended the premiere of Beastie Boys' Adam Yauch's basketball movie Gunnin' For That #1 Spot at the Magic Johnson Theater in Harlem. Also attending were Kevin Love, Lance Stephenson, Brook Lopez, Robin Lopez, DJ Augustin, and Adam Yauch. The film follows eight top high school players—including Jennings—from their hometowns to NYC, for the 2006 Elite 24 at Rucker Park.

In June 2008, Jennings announced that he was considering becoming the first American to skip college to play professionally in Europe. The NBA requires players to be at least 19 years old and one year removed from high school before entering the league, meaning that Jennings could not enter the 2008 NBA draft. Jennings declared that his goal was to play in the NBA and that playing overseas instead of at an American college could be his best route to gain experience and make money until he was eligible to join the NBA.^[10]

Italian career[link]

On July 16, 2008, Jennings signed with Lottomatica Roma of the Italian Lega A.^[11] The contract he signed with Roma was for $1.65 million net income guaranteed^[12] and after earning the contract with Lottomatica, Under Armour gave Jennings a $2 million contract^[13] to showcase their products in the Euroleague. Jennings was the first player to play for a European team rather than play for a college basketball team since the NBA's age restriction rule was implemented.

In the Italian Lega A 2008-09 season, Jennings averaged in 27 games, 5.5 points, 1.6 rebounds, 2.2 assists, and 1.5 steals in 17.0 minutes per game. He shot 35.1 percent from the field and 20.7 percent from 3 point range in Lega A play.^[14] In 16 Euroleague games, Jennings averaged 7.6 points, 1.6 rebounds, 1.6 assists, and 1.2 steals in 19.6 minutes per game. In the Euroleague he shot 38.7 percent from the field and 26.8 percent from 3 point range.^[15]

NBA career[link]

2009 NBA Draft[link]

Jennings during a game against the Detroit Pistons.

Jennings was selected tenth overall by the Milwaukee Bucks in the 2009 NBA Draft. He became the first player who skipped college to play professional basketball in Europe to be drafted by an NBA team. Jennings also made a notable appearance at the draft. He had initially decided not to attend the draft and preferred to be at a family function during the draft. After he was drafted by the Bucks, he left the family function and headed to Madison Square Garden. He later came out on stage after the 14th pick was announced to have his picture taken with NBA commissioner David Stern, just like all drafted players who attend the draft.^[16]

Rookie season[link]

During Jennings's NBA regular season debut on October 30, 2009, against the Philadelphia 76ers, Jennings recorded 17 points, 9 rebounds, 9 assists, and hit 2 three-point shots, just shy of a triple-double, and played 34 minutes. In his second game, on October 31, 2009, against the Detroit Pistons, also the debut in Bradley Center, Jennings scored 16 points during the third quarter and a team-high 24 points for the game to lead the Milwaukee Bucks to their first victory of the 2009–10 regular season.

On November 14, 2009, after a scoreless first quarter, Jennings scored 29 points in the 3rd quarter against Golden State en route to a total of 55 points in the game to break the team record for most points by a rookie previously set by Kareem Abdul-Jabbar in 1970. Jennings's performance was the most points scored by a rookie since Earl "The Pearl" Monroe scored 56 in 1968. He became the youngest player to ever score 55, collecting the second-highest total for a player under 21, behind only LeBron James's 56 points in March 2005, and the second-most points scored by a Milwaukee Buck (behind Michael Redd's 57 in 2006).^[17] On February 2, 2010, he was selected to compete in the Skills Challenge.^[18]

2010–11 season[link]

On October 30, 2010, Jennings recorded his first ever triple double, with 20 points, 10 rebounds, and 10 assists against the Charlotte Bobcats. On December 15, 2010, Jennings broke his left foot against the San Antonio Spurs when he came down awkwardly on his ankle.^[19] Despite the injury, he played 30 minutes the following game against the Jazz. The team later confirmed that Jennings would miss the next four to six weeks as he recovered from surgery to repair a fracture in his left foot.^[20] He had been averaging 18.7 points per game before the injury.^[21] Jennings missed a total of 19 games with the injury before returning on January 29, 2011 in a 91-81 home victory over the New Jersey Nets.^[22] He scored a season-high 37 points against the New York Knicks on March 25, 2011.^[23]

NBA career statistics[link]

Regular season[link]

Playoffs[link]

Awards[link]

• 2005 Press Telegram Freshmen Player of the Year
• Named the Most Valuable Player of the 2006 Les Schwab Invitational Tournament
• Co-MVP of the 2007 Elite 24 Hoops Classic (with Tyreke Evans)
• 2007 Las Vegas Easter Classic Most Valuable Player
• 2007 NBAPS Top 100 High School Camp Best Playmaker
• 2007 The Goazcats.com Showdown Most Valuable Player
• 2008 Naismith Male Player of the year
• 2007–08 Gatorade Player of the year Virginia
• 2008 Parade Magazine Player of the Year
• 2008 EA SPORTS National Player of the Year
• 2008 McDonald's All-American
• 2007–08 MaxPreps National Player of the Year
• 2008 Jordan Brand Classic Most Valuable Player for the East
• No. 1 rated senior by ESPN (2008)
• No. 1 rated senior by Van Coleman Hoopmaster (2008)
• No. 1 rated senior by Clark Franics Hoopscoop (2007 and 2008)
• No. 1 rated senior by Dave Telep Scout.com 2008
• Eastern Conference NBA Rookie of the Month (Oct./Nov. 2009)
• Eastern Conference NBA Rookie of the Month (Dec. 2009)
• Eastern Conference NBA Rookie of the Month (Jan. 2010)
• 2009-10 NBA 1st Team All-Rookie (unanimous selection)

Records[link]

NBA records

• Youngest player in NBA history to score 50 or more points in a game

• &1000000000000002000000020 years, &1000000000000005200000052 days
• 55, Milwaukee Bucks vs. Golden State Warriors, 02009-11-14November 14, 2009

Ranks 2nd in NBA history in:

• Field goals made, quarter

• 12, third quarter, Milwaukee Bucks vs. Golden State Warriors, 02009-11-14November 14, 2009
• Tied with six other players who have made 12 field goals in a quarter
• NBA record is held by David Thompson, with 13

Milwaukee Bucks franchise records
Rookie

• Points, game, rookie: 55, vs. Golden State Warriors, 02009-11-14November 14, 2009

• Tied with multiple players for 4th highest tally in NBA history by a rookie

• Field goals made, game, rookie: 21, vs. Golden State Warriors, 02009-11-14November 14, 2009

Franchise

• Points, half: 45, second half, vs. Golden State Warriors, 02009-11-14November 14, 2009
• Points, quarter: 29, third quarter, vs. Golden State Warriors, 02009-11-14November 14, 2009
• Field goals made, half: 17, second half, vs. Golden State Warriors, 02009-11-14November 14, 2009
• Field goals made, quarter: 12, third quarter, vs. Golden State Warriors, 02009-11-14November 14, 2009

Charity[link]

After an earthquake in Italy while he was playing there in April 2009, Jennings donated $50,000 to support victims.^[24]

Jennings participated in Steve Nash's Showdown in Chinatown charity soccer match in New York City on June 24, 2010.^[25]

References[link]

External links[link]

• Brandon's Official Website
• NBA.com Profile
• Profile on Rivals.com
• Profile on Scout.com
• Brandon Jennings News
• High school hoops star struggles abroad: Picking Italy over college starts to backfire for Jennings