Posts Tagged ‘East West Bank’

Doreen Woo Ho’s New Chapter Is Her Last, San Fran’s R&G Lounge Says “Drop Dead”

Doreen Woo Ho’s New Chapter Is Her Last, San Fran’s R&G Lounge Says "Drop Dead"

Courtesy of Tyler Durden

October 1, Message from Doreen Woo Ho, CEO of United Commercial Bank:

Dear Valued Customer,

As UCB’s Acting President and CEO, one of my top priorities is to keep our customers updated on important developments at the bank.  Over the last several weeks, we have made significant strides in our effort to turn the page and start a “new chapter” in UCB’s history.  We are working closely with our regulators to make the bank stronger for the benefit of our customers and other stakeholders in the U.S. and China.  Let me briefly summarize the progress we have made in the past few weeks.

Partnership with China Minsheng Bank

I recently returned from China, where I met with the Board and management of our strategic investor, China Minsheng Bank (CMBC).  They expressed their continued support of UCB and interest in working together on strategic initiatives and other business synergies.

Currently, a group of 17 young managers from CMBC are visiting our San Francisco headquarters, where they are spending six weeks undergoing both classroom and practical training in various departments of the bank.  This collaboration has helped members of both banks deepen our understanding of each other’s business and will help us find new ways to enhance UCB’s high-value products and services.

Capital Plan

We are focused on addressing our capital needs going forward, as we announced in our press release on September 8.  To that end, we are aggressively moving forward with our capital plan and have engaged a financial advisor to help us look at all our options.  As soon as we have something specific to disclose, we will communicate it publicly to all our customers and other stakeholders.

Financial Restatement & Management Action Plan

In the last few weeks we have aligned our team with our outside auditors at KPMG to work as expeditiously as possible to complete our financial restatement. The entire management team is doing its utmost, as are our auditors, to move the bank forward and put us back on a solid foundation for the future.

Community Support

While we are working hard to move the bank forward, all of us at UCB continue to partner with members of our communities in the U.S.…
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Phil's Favorites

A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

 

A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

One of this and one of that might be a good strategy to coronavirus vaccination. SOPA Images/LightRocket via Getty Images

Courtesy of Maureen Ferran, Rochester Institute of Technology

While it’s now pretty easy to get a COVID-19 shot in most places in the U.S., the vaccine rollout in other parts of the world has been slow or inconsistent due to ...



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Biotech/COVID-19

A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

 

A mix-and-match approach to COVID-19 vaccines could provide logistical and immunological benefits

One of this and one of that might be a good strategy to coronavirus vaccination. SOPA Images/LightRocket via Getty Images

Courtesy of Maureen Ferran, Rochester Institute of Technology

While it’s now pretty easy to get a COVID-19 shot in most places in the U.S., the vaccine rollout in other parts of the world has been slow or inconsistent due to ...



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Zero Hedge

Supreme Court Saves Obamacare Again After GOP Challenge Rejected

Courtesy of ZeroHedge View original post here.

The Supreme Court on Thursday rejected a GOP challenge to Obamacare, upholding the Affordable Care Act for the third time.

In a 7-2 decision, the Court found that Texas and 17 other states lack legal standing to sue, as they had not suffered a direct injury, according to the New York Times.

The Justices did not touch on the larger issues in the case, however, namely whether the majority of Obama'...



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Chart School

Australia to enter a very sad period - Update

Courtesy of Read the Ticker

Lets add some dates to the bearish forecast of the ASX200.

Previous post on the subject and a more detailed Ewave construction can be found here.

SHORT ANSWER

The vertical light red shaded area (chart 1) is the T Theory forecast for the final price top (end of B wave). This period is some where between Nov 2021 and July 2022. This zone is the confluence of equal time cycles as presented on the chart. Notice how this note refers to a extreme price top and not a crash or bear market starting date. Price can consolidate for some time after a extreme high is posted. 


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Politics

The Ukraine Fallacies (with Victor Rud)

 

The Ukraine Fallacies (with Victor Rud)

Americans are confused about the history of Ukraine. That's just how Russia wants it.

Courtesy of Greg Olear, at PREVAIL

Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Promotions

Live Webinar with Phil on Option Strategies

 

June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

Click here to register for TD's live webinar with Phil.

 

...

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Digital Currencies

Crypto: Congress Dawdles as $1.7 Trillion Con-Game Goes Unregulated, Threatening Reputation of U.S. Markets

Courtesy of Pam Martens

If you want to get your hair cut outside of your home in the United States, the job has to be done by a licensed worker at a regulated business. The same thing applies to plumbers, electricians, home inspectors, real estate and insurance agents. They all require a license and are subject to regulatory scrutiny.

Likewise, commodities like corn, sugar, wheat, lumber and oil are all traded on regulated exchanges which are overseen by a federal regulator.

But, for reasons that have yet to be explained to the American people, when it comes to the $1.7 trillion cryptocurrency market – which is effectively a con-g...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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