Billionaire Kerkorian boosts GM stake to 7.2 percent

Billionaire Kerkorian boosts GM stake to 7.2 percent

Agence France Presse
June 8, 2005

NEW YORK (AFP) — Billionaire Kirk Kerkorian boosted his stake in
General Motors to 7.2 percent following last month’s surprise share
offer for the struggling auto giant, his holding company announced.

Kerkorian’s Tracinda Corp. said the offer, which expired at midnight
Tuesday, resulted in the purchase of an estimated 18.9 million GM shares.

As a result, the 87-year-old Kerkorian, a casino magnate who has bought
and sold MGM studios and was once Chrysler Corp.’s largest shareholder,
has nearly doubled his holding in GM from 3.89 percent.

Kerkorian stunned financial markets May 4 with his offer of 31 dollars a
share for GM, at the time 13 percent above the market price.

Tracinda indicated at the time that the move was “solely for investment
purposes.”

Analysts said that the move appeared to be a vote of confidence in the
world’s biggest automaker, which has been in turmoil over eroding market
share in the United States and growing financial uncertainties, but that
it may also signal some effort to influence GM’s board or management.

GM shares rallied 4.2 percent to close Wednesday at 32.02.

The lack of sellers handing over their shares to Kerkorian shows that
despite its flaws, investors still have faith in the auto giant,
according to Michael Metz, chief investment strategist at Oppenheimer
and Co.

“If (the tender offer) had been oversubscribed, I think the stock would
have gone lower,” Metz said.

“There wasn’t an excessive supply coming out at that price, so
technically that’s a good sign. I also think the Street is taking the
restructuring news favorably.”

On Tuesday, GM said it would cut at least 25,000 jobs, or 13.8 percent
of its US workforce, by 2008 to generate 2.5 billion dollars in annual
savings. The company also announced plans to close additional assembly
and component plants to help get GM North America back to profitability.

JP Morgan analyst Himanshu Patel said that the offer effectively places
a floor for the stock.

“Kerkorian’s tender offer provides some downside support as it should
remove some/many of the sellers of the stock below 31 dollars a share,”
he wrote in a note reiterating his overweight rating.

But of the 16 Wall Street analysts covering the stock, only four
maintain a buy rating, according to Thomson First Call.

Bernard Klawans, fund manager for the Valley Forge Fund, remained
unconvinced about GM’s prospects.

“Kerkorian is just another investor,” he said. “General Motors is in
trouble. I don’t see their management doing anything but waving flags.
Yesterday’s news isn’t anything to get excited about; it’s actually very
discouraging.”

“While it is encouraging that GM management is contemplating a lower
cost structure for the North American business, we do not believe that
much new information was revealed and GM’s commitments so far fall short
of what’s required,” said Rod Lache at Deutsche Bank.

“We expect GM North America to lose 3.2 billion dollars this year on a
pre-tax basis. Given the magnitude of the anticipated losses (and GM’s
current stock price), we believe the Street expects GM to make an
aggressive and credible restructuring announcement by year-end.”

;cid=1503&ncid=1503&e=2&u=/afp/20050608/ts_afp/usautogmstocks_050608215331

http://news.yahoo.com/news?tmpl=story&amp

“Modern Office and Bank” Int’l Exhibit in Armenia June 10-12

“MODERN OFFICE AND BANK” INTERNATIONAL EXHIBITION TO BE HELD IN
ARMENIA JUNE 10-12

YEREVAN, June 8. /ARKA/. “Modern Office and Bank” international
exhibition will be held in Armenia June 10-12. According to the Centre
of the Exhibition Projects “EXPOMEDIA”, the event is topical not only
for local entrepreneurs, but also for investors form CIS and other
countries, who get the opportunity to acquaint themselves with this
area and carry out market analysis. The objective of the exhibition is
to strengthen commercially beneficial relations between trade-industrial
enterprises and banking infrastructure, as well as formation of efficient
business atmosphere for the exchange of business-information,
knowledge and practical experience. The exhibition will provide
maximum information on companies, new projects and proposals to the
visitors.

The exhibition is organized by the Centre of the Exhibition Projects
“EXPOMEDIA” with the assistance of RA Ministry of Finance and Economy,
Central Bank of Armenia, RA and Yerevan Commerce and Industry Chamber,
National Centre for SME Development and Union of Banks of
Armenia. L.V.-0–

Azerbaijan did not take part in BSTDB meeting in Armenia

Pan Armenian News

AZERBAIJAN DID NOT TAKE PART IN BSTDB MEETING IN ARMENIA

06.06.2005 10:05

/PanARMENIAN.Net/ Azerbaijan did not take part in the recurrent meeting of
the Black Sea Trade and Development Bank in Armenia, Armenian Minister of
Economy and Finance Vardan Khachatryan stated at a press conference today.
In his words, in spite of all security guarantees being provided to the
Azerbaijani representative, the country refused to take part in the sitting.
In his turn President of the Bank Mustafa Gurtin noted that Azerbaijan is a
sovereign state and it should make decisions on participating or not in a
meeting on its own. As noted by the President, in 2006 the Bank sitting is
planned to be held in Baku. Thereupon V. Khachatryan noted that he will
represent Armenia at the meeting – of course if the Azeri party provides a
visa. It should be noted that in 2007 the Bank meeting will be held in
Moldova. The candidacy of the Azerbaijan as a chairing county in 2006 was
proposed earlier by the Bank Council and was approved the by Board of
Directors. Both the Minister and the Bank President appreciated the work
done by the meeting participants. In their words, in the course of the
sitting the Bank budget for 2005 was approved. As noted by M. Gurtin a field
for active implementation of diverse programs in Armenia was formed lately.
Thus, Armenia is the second from the end on participation in the bank –
0.38%. The top places are occupied by Russia, Turkey and Greece. In the
BSTDB President’s words, any programs may be approved by the Bank,
especially if they are of regional nature, which will promote development of
the region. In the Minister’s words, the Armenian branch of the Bank has had
a profit of $400 thousand. As M. Gurtin informed, a memorandum on
cooperation with the EU, as well as Valeta and Oval agreements totaling $500
thousand are scheduled to be signed. In V. Khachatryan’s words, the Bank
special session will discuss the matter of allocating financial means of $23
million to implement Russal program.

Stepanakert Int’l Conference Participants Send Unesco Head Request

PARTICIPANTS IN INTERNATIONAL CONFERENCE IN STEPANAKERT
SEND REQUEST TO UNESCO SECRETARY GENERAL

STEPANAKERT, JUNE 6. ARMINFO. The participants in the international
scientific conference held in Stepanakert, NKR, on the occasion of
the 1,600 anniversary of the creation of Armenian alphabet and the
foundation of the first school in Karabakh have sent a request to
UNESCO Secretary General.

The conferees are asking UNESCO to take under protection Amarasa
educational complex in Karabakh founded as early as 405 AD with a
view to create a regional scientific-education center there. This
will promote not only education but also peace and stability in the
region. An international conference “Education in 21st Century” can
be held for this purpose with UNESCO representatives attending the
event.

Die Warnung der Engel

g/454425.html

Analyse
Die Warnung der Engel

Elif Shafak

Berlin und Istanbul haben viel miteinander gemein: die zerrissenen
Seelen, die schwere Last der Geschichte, die langen Schlangen vor den
DonerlÀden. In einer Hinsicht allerdings unterscheiden sie sich
fundamental: wenn Berlin die Stadt des entschlossenen Sich-Erinnerns
ist, dann ist Istanbul die Stadt der totalen Amnesie. In Berlin stoßt
man uberall auf Spuren der Vergangenheit: Mit Mahnmalen und Plakaten,
DenkmÀlern und Ausstellungen wird das historische GedÀchtnis immer
wieder belebt. In Istanbul kÀme kein Mensch auf den Gedanken, eine
zerbombte Kirche als Mahnmal fur kunftige Generationen stehen zu
lassen; niemand erinnert mit Gedenktafeln daran, aus welchen HĂ€usern
die Bewohner vor siebzig Jahren verschleppt worden sind. Als ich in
Istanbul lebte, habe ich in der Straße der Kesselflicker gewohnt,
einer steilen alten Gasse, die von ethnischen Minderheiten aller Art
bewohnt wurde, spÀter von Schwulen und Lesben. Auch hier konnte man
gut ein Gedenkschild anbringen: “Am 6. und 7. September 1955
versammelte sich hier eine Horde turkischer Nationalisten und
zerstorte alle GeschÀfte, die nicht von Moslems gefuhrt wurden. Die
Ware von judischen, armenischen und griechischen HĂ€ndlern wurde aus
den LĂ€den gerissen und die Straße hinuntergeworfen.” In Berlin ist
diese Art offentlichen Gedenkens jederzeit moglich. In Istanbul
nicht.

Als die biblische Stadt Sodom in der Apokalypse versank, wurde Lot
von den Engeln gewarnt: “Rette dein Leben und sieh nicht hinter
dich.” Seine Frau hat die Warnung ignoriert, sie hat sich umgedreht
und ist zur SalzsÀule erstarrt. Wir Turken nehmen die Warnung der
Engel ernst – viel zu ernst: Sie ist fur uns das Haupt-Lebensmotto
geworden. Aber so lange wir der Vergangenheit nicht ins Gesicht sehen
konnen, bleiben unsere Herzen erstarrt.

Kurzlich wollte ich auf einer Konferenz zum Thema “Armenier im
letzten Jahrhundert des ottomanischen Reichs” reden. Doch wurde sie
schnell wieder abgesagt – nach einer chauvinistischen Rede des
turkischen Justizministers, der im Parlament alle Teilnehmer vorab
angeklagt hatte, der Nation einen Dolch in den Rucken zu stoßen. Ganz
offensichtlich war der turkische Justizminister zu der Uberzeugung
gelangt, dass noch gar nicht vorgetragene wissenschaftliche Thesen
auf einer Konferenz, die noch gar nicht stattgefunden hatte, eine
ernste Bedrohung fur das Wohl der Nation bilden konnen.

Die Turkei befindet sich heute in einem Kulturkampf: einem Kampf
zwischen Erinnern und Vergessen. Erst wenn die turkische
Zivilgesellschaft beginnt, sich der eigenen Geschichte zu stellen,
wird auch der Demokratisierungsprozess eine wahre Chance bekommen.
Erst wenn die Turken das Leid eingestehen, dass sie den Armeniern
zugefugt haben, werden die Politiker auch den heute lebenden
ethnischen und religiosen Minderheiten ihre Rechte nicht mehr
verwehren konnen. Wer ein Verbrechen vergisst, bereitet den Boden fur
das nÀchste. Aus der VerdrÀngung der Vergangenheit erwÀchst keine
gute Zukunft. Jemand wie der turkische Justizminister verbietet uns
nicht nur das kritische Denken. Er verbietet uns auch das Recht auf
unsere Trauer und das Recht auf Erinnerung.

Elif Shafak (34) unterrichtet an der University of Arizona in Tucson
Gender Studies. Zuletzt erschien ihr Roman “Die Heilige des nahenden
Irrsinns” auf Deutsch im Eichborn-Verlag.

Dieser Text wurde aus dem Englischen von Jens Balzer ubersetzt.

–Boundary_(ID_IL0FLiN8f5tK6gxyTsKWfg)–

http://www.berlinonline.de/berliner-zeitung/meinun

Azerbaijan To Prevent Unsanctioned Rally

Azerbaijan To Prevent Unsanctioned Rally

RFE/RL
Friday, 03 June 2005

Baku, 3 June 2005 (RFE/RL) — Azerbaijani authorities said today they
will prevent an unsanctioned anti-government rally the opposition
has called for tomorrow.

Government spokesman Ehsan Zahidov says no permit was issued to the
opposition parties to hold the rally. Zahidov says the opposition’s
intent was to create a confrontation in Baku and that was unacceptable.

The head of the opposition Popular Front of Azerbaijan, Ali Kerimli,
vowed the rally will be held in a central square in Baku. Kerimli
says it is a constitutional right to hold a rally.

Police and protesters clashed last month at a similar rally, in which
some 75 people were arrested.

(RFE/RL’s Azerbaijani Service, AFP)

http://www.rferl.org/featuresarticle/2005/06/66ef400a-e85b-4248-95d8-dd471410dbe1.html

TBILISI: 21 parties interested in Madneuli

21 parties interested in Madneuli

The Messenger, Georgia
June 3 2005

Deputy Minister of Economic Development of Georgia Kakha Damenia stated
after opening privatization bids for the Madneuli mining complex on
Wednesday that it would take one to two months to determine the winner.

According to Damenia, the bid review commission will pay attention
to the price suggested by the companies, perspectives of development
of the company and capital structure.

The companies interested in Madneuli include the Resources Capital Fund
(Australia), Liu in Holdings (Bahamas), Eurasian Mining Corporation
(Britain, Columbia), Armenian Cooper Program (Armenia), Horizon
Resources Incorporated (Canada), Bolnisi Gold NL (Georgia), David
Geo Simen (Bahamas), London International Bank (Great Britain),
Kazreti Mining (Georgia), Deno (Switzerland), Rusinkor (Russia),
Stanford International (USA), Rom Trade Limited (Russia – Switzerland)
and France Group (Dubai).

The sale includes 97.25 percent of Madneuli stocks, 50 percent
Qvartsite Ltd stocks, 51 percent of the Georgian Samtamadno Company
stocks and 50 percent of TransGeorgian Resource stocks.

The Ministry of Development of Georgia expects to sell the package
for at least USD 50 million.

CIS: Army brotherhood is drawing its last breath

Agency WPS
DEFENSE and SECURITY (Russia)
June 1, 2005, Wednesday

CIS: ARMY BROTHERHOOD IS DRAWING ITS LAST BREATH

SOURCE: Nezavisimoye Voyennoye Obozreniye, No 19, May 27 – June 2,
2005, p. 2

by Igor Plugatarev

CIS Headquarters for Coordination of Military Cooperation
(Headquarters) is drawing its last breath. CIS leaders (Russia,
Belarus, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia,
Georgia, Turkmenistan, Azerbaijan, Moldova, Kyrgyzstan) will meet in
Moscow on June 22-23 and make the final decision, according to
Nikolai Bordyuzha, General Secretary of the CIS Collective Security
Treaty Organization (Armenia, Belarus, Kazakhstan, Kyrgyzstan,
Russia, Tajikistan).

Established in 1992, the headquarters never lived up to expectations.
Military cooperation within the framework of the Commonwealth
deteriorated with each passing year, meetings of defense ministers
became a pure formality. It is clear after all that CIS countries set
military relations with others in accordance with their interests and
not with some structure with vague functions and duties established
in the 1990’s. Moreover, military policy of many of these countries
clearly aims at a confrontation with Moscow. Ukraine regularly
generates tension of the Russian Black Sea Fleet which prevents its
speedy integration into NATO. Georgia and Moldova insist on
withdrawal of Russian military contingents from their territories.
Turkmenistan does not even participate in the work of the
Headquarters or CIS Council of Defense Ministers. Uzbekistan prefers
to deal with Russia within the framework of the Shanghai Organization
of Cooperation… The situation being what it is, the work of the
Headquarters was a fiction.

“Bona fide military cooperation and effective interaction between law
enforcement agencies is restricted to the CIS Collective Security
Treaty Organization alone,” Bordyuzha said on May 24.

Asked if the CIS Collective Security Treaty Organization was to
become even more active when cooperation between defense ministries
of CIS countries was finally over, Bordyuzha replied that it was.
According to Bordyuzha, the next meeting of defense ministers of
countries of the CIS Collective Security Treaty Organization in June,
will contemplate over 50 issues. They include problems of
peacekeeping, discussion of a mechanism of compilation of the list of
terrorist organizations. Improvement of the personnel training
system. “A great deal of issues have to do with the force element. We
will discuss within its framework plans of coalitionist military
development until 2010,” Bordyuzha said.

No new members are to be admitted into the CIS Collective Security
Treaty Organization this time. Observers say that it will be logical
for Uzbekistan to apply for membership but Bordyuzha says that
Tashkent has not submitted its request yet.

As for expansion of the force element of the CIS Collective Security
Treaty Organization, “we are talking about establishment of a major
army group in the Central Asian region. We will discuss it at the CIS
Council of Defense Ministers,” to quote Bordyuzha. (There are already
Russian-Belarussian, Western, Russian-Armenian, and Caucasus army
groups within the framework of the CIS Collective Security Treaty
Organization.)

Six defense ministers may also discuss establishment of a new
military base of the CIS Collective Security Treaty Organization. At
the very least, work with public opinion on that score is already
under way. The base may be established in the town of Osh,
Kyrgyzstan.

Bordyuzha ducked the direct question if a base in Osh was to be
established. “Some representatives of former security structures of
Kyrgyzstan suggested the idea, but official Bishkek has not submitted
an application,” Bordyuzha said. “We will discuss it if and when it
is submitted.”

In fact, the plans to establish a base in Osh were first revealed by
Andrei Kokoshin, Chairman of the Committee for CIS Affairs of the
Duma and ex-secretary of the Security Council. It happened on May 22,
in Osh itself, when the delegation of the Russian parliament was
visiting Kyrgyzstan. According to Modest Kolerov (chief of the
directorate of presidential administration for contacts with foreign
countries who was also in Osh then), establishment of military bases
in Kyrgyzstan was indeed discussed at the Russian lawmakers’ meeting
with acting president of the Central Asian republic. Moreover, the
discussion was initiated by acting President Kurmanbek Bakiyev
himself. Sources in Bishkek confirm Bakiyev’s words, that he does not
object to establishment of a counter-terrorism center in Kyrgyzstan
on the basis of the CIS Collective Security Treaty Organization or
any other structure.

Russian military experts view Bakiyev’s offer as quite logical.
Colonel Anatoly Tsyganok, Director of the Center of Military
Forecasts, says that because of the lack of stability on the
territory between Kokand, Ferghana, Namangan, and Andizhan, the
Russian-Kyrgyz counter-terrorism center could closely cooperate with
the army group of the Uzbek East District that controls the situation
in the Ferghana Valley but that cannot hope to come with a rebellion
or another color revolution. At first, however, the experts suggests
the use of the Russian peacekeeper brigade of the Volga-Urals
Military District. “It will be great from the point of view of public
relations,” Tsyganok said. “On the request from Bishkek and Tashkent,
capitals of the countries that are members of the Shanghai
Organization of Cooperation, Russian peacekeepers are deployed to
assist Kyrgyz and Uzbek border guards, to maintain order, and divide
the warring sides… It will be even possible to involve the CIS
Collective Security Treaty Organization at a later date.”

As for the Kyrgyz population’s attitude towards the possibility of
return of the Russian military, Russian Consul Yuri Ivanov says that
the locals do not object. “The officials and men in the streets I
talked to cannot wait to see the Russian military back,” the diplomat
said. “The widespread opinion is that it will only benefit the
republic.” There was a transit base in Osh not long ago used to ship
consignments to the Russian group of border guards and 201st
Motorized Infantry Division in Tajikistan.

Sources in the secretariat and bodies of the CIS Collective Security
Treaty Organization say that “as they say, there is something to
establish the base in Osh on. There is good military infrastructure
there, a military airfield near the civilian one capable of receiving
small transport planes…”

According to what information Nezavisimoye Voyennoye Obozreniye has
compiled, Kyrgyz army has a substantial group in Osh at this point.
The matter concerns the 1st Separate Brigade of Mountaineers (1,400
men, 108 fighting vehicles, 36 artillery pieces and mortars) and the
3rd Antiaircraft Artillery Brigade (almost 300 men, 30 S-60 57 mm
artillery pieces, 30 100 mm antiaircraft pieces, and 4 antiaircraft
mobile Shilkas). Command of the 1st Border Detachment is quartered in
Osh too. A subdivision of the CIS Counter-Terrorism Center is located
in Bishkek itself.

A step to integrate the Armenians of Javakhq

A STEP TO INTEGRATE THE ARMENIANS OF JAVAKHQ

A1plus

| 12:56:08 | 01-06-2005 | Social |

In order to integrate the young Armenians of Samtskhe-Javakhq into
the Georgian society a camping program will be realized starting from
June in the Bakurian resort town.

The program supported by President Sahakashvili will be realized in
11 phases, lasting 10 days each. Within the framework of the event
1700 Armenian youngsters aged 16-20 will have the possibility to
communicate with the Georgian youngsters of the same age.

The information is provided by the agency “A-Info”.

International contest after Aram Khachaturian opened in Yerevan

INTERNATIONAL CONTEST AFTER ARAM KHACHATURIAN OPENED IN YEREVAN

Pan Armenian News
31.05.2005 08:19

/PanARMENIAN.Net/ An international contest after Aram Khachaturian
opened in Armenia today. 18 violinists from 7 countries will compete
with each other May 31- June 6. Yerevan State Conservatory, secondary
musical school after Chaikovsky, Cologne High Musical School,
Paris National Higher Conservatoire, Tbilisi Conservatory after
Sarajashvili and London Royal Musical Academy students will take part
in the contest. It should be noted that 23 musicians have applied for
participation in the competition, however, 5 of them will not take
part in it. In the course of the first tour 9 violinists performed
today. It should also be noted that an exhibition of photographs,
made during Aram Khachaturian’s last visit to London will open in the
composer’s house-museum today. Author of the photos Susy Meider, Aram
Khachaturian’s friend Asatur Gyuzelian, composers Karen Khachaturian
and Edvard Mirzoyan will be present at the event.