NASAA issues investor advisory on virtual currency

first_img Bitcoin should face tough capital rules, Basel Committee says Share this article and your comments with peers on social media Keywords Investor protection,  CryptoassetsCompanies North American Securities Administrators Association New York attorney general secures receiver for crypto firm James Langton Facebook LinkedIn Twittercenter_img Related news However, they are also increasingly controversial, it notes; particularly as one of the largest Bitcoin exchanges, MtGox, recently shut down after claiming to be the victim of hackers and losing more than $350 million of virtual currency. Yet, despite the rising controversy, NASAA says, “virtual currency may find its way into your e-wallet.” And so, it warns investors that virtual currency is subject to minimal regulation, it is susceptible to cyber-attacks, and there may be no recourse should the virtual currency disappear. These accounts are not covered by deposit insurance, and they may be unsuitable for most investors due to their volatility, it also warns. “Investors in virtual currency will be highly reliant upon unregulated companies that may lack appropriate internal controls and may be more susceptible to fraud and theft than regulated financial institutions,” it says. Additionally, NASAA notes that investors will have to rely upon the strength of their own computer security to prevent theft. “Unlike traditional currency, these alternatives typically are not backed by tangible assets, are not issued by a governmental authority and are subject to little or no regulation,” said Andrea Seidt, NASAA president and Ohio Securities Commissioner. “The value of virtual currencies is highly volatile and the concept behind the currency is difficult to understand even for sophisticated financial experts,” Seidt said. “Investors should be aware that investments that incorporate virtual currency present very real risks.” The North American Securities Administrators Association (NASAA) issued an investor advisory Tuesday warning about the risks of trading in and using virtual currencies, such as Bitcoin. NASAA notes that the virtual currency, which includes digital and crypto-currency are gaining popularity, as growing numbers of merchants, businesses and other organizations are starting to accept Bitcoin in lieu of traditional currency. How should banks allocate capital for crypto?last_img read more

Ask a cop: Be smart, use your blinking blinkers

first_img Be a smart and safe driver, use you turn signal indicator (BLINKERS), trust me those of us behind would love to know your intent!Gerry, try not to get so emotional and show your disapproval in front of your kids while operating a motor vehicle, because this is a behavior they can easily pick up from their HERO, and when they start driving they may display acts of anger while driving or even road rage.Jeremy from Beaumont asks: Officer Antoine, I car pool weekly with my co-worker and we always have a question about blocking intersections while stopped in line at a traffic signal. Let’s say the traffic at an intersection is backed up past a city length block and the crossstreet has vehicles in front waiting for the light to change. There are also cars stopped at the cross street stop sign. Is it illegal to block the intersection and wait for the traffic light to change or should the traffic a the stop sign wait?Answer: Good question Jeremy! We all can experience lines of traffic like this during rush hours. There are not laws that tell ANY driver in Texas that they must stop before the cross street to allow passage for any vehicle sitting a stop sign. The vehicle at a cross street will just have to patiently WAIT until it is clear and safe for them to enter the intersection. The vehicle that is on the road, already has the right of way and the other vehicle must gain access when it is safe to do so. If the vehicle at the stop sign is given entry by one motorist that still don’t give them the right of way especially if his movement or position of his vehicle is causing traffic to stop to allow him safe passage. Keep in mind especially when you are in BIG cities like Houston, sometimes you feel like you will wait 15 minutes at a stop sign before its safe to enter the intersection unless someone lets you in. You always take a risky chance when someone lets you in by slowing down traffic and waving you in. Drive Safe!Juan from Port Arthur asks: I’ve visited Houston on many occasions and I must say with the multitude of vehicle traffic they have there, it seems like the horn usage is more here in Southeast Texas than in Houston. Is there a law against horn usage abuse or overuse?Answer: Good question Juan! Yes there is a law against inappropriate horn usage. Now Juan being raised in smaller communities and daily motoring in said place makes you grateful when we take time to visit our neighboring MAJOR metropolitan city to the west. Juan it is your opinion that we use our horn system more than the motorist in Houston do, well I can’t say I agree with that but you are entitled to your opinion. Horns are a very important tool and necessary asset to you vehicle to communicate road safety to other motorist. Now Texas law TRC 547.501 (c)  A motor vehicle operator shall use a horn to provide audible warning only when necessary to insure safe operation. Keep in mind that Click it or Ticket will be enforced until May 31. The men and women of the Port Arthur Police Department are encouraging ALL motorist and passengers of motor vehicle to BUCKLE UP! Seat belts save lives!Gerry from Port Arthur asks:  Officer Antoine, I have a quick question about the use of blinkers: It seems as though a lot of people have decided that the use of blinkers on public streets and highways is an option. Many, many times as I drive the route between my home and Lamar State College-Port Arthur where I work, folks will simply stop in the road ahead of me. As I sit at a standstill I’m wondering, are they turning left … right … or if there a dead raccoon in the road? My kids make fun of me for getting so bent out of shape but I think it’s a real safety concern.Answer:  Good question Gerry! I’m ONE who truly echo your sentiments about the failure to use your signal indicators (blinkers) while operating a motor vehicle on a public roadway. I don’t understand the mindset of motorists who believe it’s permissible for them to drive and change lanes, turn into private driveways, all without signaling their intent to do so. Gerry I can’t begin to tell you how many citations I’ve issued for this violation, and the attitude of the driver upon receiving the citation is one of appalled. They can’t believe they are being stopped much less given a ticket for such a minor violation. Gerry to me and all other responsible motorists, your turn signal is a non verbal way to communicate your INTENT (lane change, turning), while driving a motor vehicle in order that other motorists behind you or approaching may prepare to drive their vehicles accordingly.It’s amazing we buy these vehicles and PAY for a piece of equipment that is standard in ALL vehicles, but yet we fail to use it! Failing to use your turn signal could be the difference between someone going to the car wash or salvage yard, or Memorial Day picnic or emergency room — and last but not least,  home or to a morgue.last_img read more

2009 Bianchi Frames revealed

first_imgBianchi has released their 2009 range photos, and we’ve sorted through them and will be posting the highlights for you.  This post is frames only, stay tuned for posts with commuters, single-speeds, road, mountain and kids bikes.  Pictured above is Bianchi’s new top-o-the-line carbon ‘cross bike, the “D2 Cross Carbon”.  Most models have frames in the trademark Bianchi “mint” green, plus gray, red, and black/white. Read more for pics across the range… 2009 Bianchi 1885 Aluminum road frame (click on images to see larger versions)2009 Bianchi 928 Carbon road frame2009 Bianchi D2 Aero time trial frame.2009 Bianchi D2 Crono Triathlon frame.2009 Bianchi D2 Super Pista Single-Speed frame.2009 Bianchi Pinella Boron road frame.2009 Bianchi XC Caal full-suspension frame2009 Bianchi XC Camos full suspension frame.2009 Bianchi XC Oetzi Ti mountain bike frame.2009 Bianchi XC Oetzi Carbon.2009 Bianchi XC team aluminum.ÂÂlast_img read more

ASICS and range of new sponsors back 2013 Omegawave World Triathlon…

first_img Related Leading athletic shoes and apparel specialist, ASICS America, has been named the Official Apparel Partner of the 2013 Omegawave World Triathlon San Diego, slated for 18-20 April 2013 in Mission Beach, California.ASICS joins a raft of new sponsors to the event, bolstering on the ground brand engagement with athletes and boosting the International Triathlon Union’s (ITU’s) World Triathlon Series.Amtrak, Competitor Group Inc, Gatorade, GU Energy, Moment Cycle Sport and TYR Sport have all also been named official local partners of the 2013 Omegawave World Triathlon San Diego event.As one of eight ITU World Triathlon Series (ITU WTS) events around the globe in 2013, the second edition of the Omegawave World Triathlon San Diego will feature an Olympic-calibre elite field competing on a historic course adjacent to the birthplace of the sport of triathlon.The Omegawave World Triathlon San Diego is co-produced by USA Triathlon and the Hamburg, Germany-based UpSolut Sports AG and Lagardère Unlimited.ASICS engagementServing as the Official Apparel Partner of the Omegawave World Triathlon San Diego for the first time, ASICS will provide gift certificates for a free pair of ASICS performance running shoes to the top 50 most-improved run split performances from last year’s event among age-group competitors. Participants in both the Olympic-distance and sprint races are eligible.In addition, ASICS will support the Omegawave World Triathlon San Diego with athlete, volunteer, medical and swim safety t-shirts, as well as apparel for event staff.“ASICS and the ITU World Triathlon Series are leading brands among the world’s best triathletes, and we are excited to have ASICS play a key role in the upcoming Omegawave World Triathlon San Diego,” said Jamey Sunshine, Lagardère Unlimited Senior Vice President, Corporate Partnerships.“Given ASICS’ strong presence and popularity within triathlon, we feel this partnership is an excellent match.”“ASICS is proud to be the Official Apparel Partner for such a prestigious competition and we look forward to beginning this exciting partnership,” added Erik Forsell, ASICS America Vice President of Marketing. “This partnership further strengthens our existing presence within the triathlon space and truly demonstrates our passion and commitment across all sports.”Last month, Omegawave, a leader in physiological assessment technology, was named the Title Sponsor of the 2013 Omegawave World Triathlon San Diego event.Other sponsors also prove engaging!Offering a 30% discount on rail service from Los Angeles and Orange County to Omegawave World Triathlon San Diego participants, Amtrak is America’s railroad, the nation’s intercity passenger rail service and its high-speed rail operator.Competitor Group (CGI) – the active lifestyle industry’s leading media and event entertainment company – is a media partner for the ITU WTS San Diego event. The aggregate CGI customer base now exceeds 7 million endurance enthusiasts and athletes. CGI’s portfolio of media assets span the full range of the expanding endurance industry and include a robust digital community on the web and on mobile across the Competitor Endurance Sports Network of websites.Gatorade will be on course for all athletes at Omegawave World Triathlon San Diego 2013. Gatorade Endurance Formula is scientifically formulated to meet the specific needs of endurance athletes. It contains a five-electrolyte blend including nearly twice the sodium (200 mg) and more than three times the potassium (90 mg) compared to original Gatorade Thirst Quencher.GU Energy Gel is the official gel of the Omegawave World Triathlon San Diego, and will also support all the athletes participating at the event.Moment Cycle Sport returns as the Official Bike Mechanic Service of the Omegawave World Triathlon San Diego. ‘San Diego’s only fit-first bike shop’, Moment Cycle Sport leverages technology to enable its customers to reach the limits of their athletic potential. Moment Cycle Sport will provide bike mechanic support for athletes competing in the San Diego event.TYR returns an official partner for the Omegawave World Triathlon San Diego. TYR engineers technical apparel and equipment for swimmers and triathletes. Named after the Norse god of warriors, TYR is ‘dedicated to re-imagining technologies that help athletes attain peak performance.’Calling all triathletes…In addition to elite and paratriathlon races, the 2013 Omegawave World Triathlon San Diego event features top-flight Olympic- and sprint-distance age group races, as well as an Olympic-distance relay and an aquabike event, offering amateurs the chance to compete in the same epic venue as the world’s best athletes. The 2013 Omegawave World Triathlon San Diego also serves as the USA Triathlon (USAT) Club National Championships.Nearly 2,100 amateur triathletes aged from 14 to 90 years old, from 42 US states and 16 countries, competed at the 2012 World Triathlon San Diego.This month’s Omegawave World Triathlon San Diego will also be televised live in the United States on Universal Sports Network and on 19-20 April.sandiego.triathlon.orgwww.asicsamerica.comwww.amtrak.comwww.competitorgroup.comwww.gatorade.comwww.GUenergy.comwww.momentcyclesport.comwww.TYR.comlast_img read more

Promotions Announced at Arnold Motor Supply

first_imgDeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. SPENCER, Iowa – Dennis Spooner, managing partner of the Arnold Group of Companies based in Spencer, Iowa, recently announced three managerial changes within the company.              Adam Janssen has been named the store manager for the company’s Arnold Motor Supply automotive parts store in Washington, Iowa. Janssen has been part of the Arnold Motor Supply team since January of 2005 and brings a wealth of experience. He was most recently a salesman at the Marshalltown location.   Adam Wallin, has been named the store manager for the company’s Auto Value Parts Store in Geneva, Neb. Wallin started with the company in 2010 after serving in the U.S. Army during Iraqi Freedom, and working as a sales manager for a realty and livestock firm. He has a bachelor’s degree in business administration with a minor in marketing. He is a second-generation partner.   Adam Jones has been named the store manager for the company’s Auto Value Parts Store No. 63 in Omaha, Neb. Jones has been part of the Arnold Group of Companies team since February 2004 and brings with him a wealth of automotive parts and repair experience. He was most recently a trainer for the Auto Value Parts Stores of Nebraska.   The Arnold Group includes 38 Arnold Motor Supply stores, 11 Auto Value parts stores as well as two warehouses, an Auto Refinish division, a light industrial coating distributor, and a cylinder head re-manufacturing division with stores in Iowa, Minnesota, Nebraska, Illinois and Missouri. Twenty-one store locations have complete machine shops located within the stores.       AdvertisementClick Here to Read MoreAdvertisement,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit.  LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business. last_img read more

Songa Venus stacked in Malaysia. Mercur down on BOP issues

first_img[mappress] Songa Offshore, an international offshore drilling company, has announced its rig fleet update for June 2014.The company said that its Songa Venus semi-submersible drilling rig went off contract on 6 May 2014, and is now stacked in Labuan, Malaysia, where it pursues future work.Songa Mercur achieved an operational efficiency of 89% and an earnings efficiency of 88% during the month working for Idemitsu in Vietnam. The unit experienced downtime mid-June due to unplanned BOP maintenance.Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 100% during the month working for Statoil in Norway.Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 100% during the month working for Statoil in Norway.Songa Trym achieved an operational efficiency of 100% and an earnings efficiency of 97% during the month working for Statoil in Norway. July 04, 2014last_img read more