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We should do this
Jul. 10th, 2007 02:01 pmNiigata Shinkin Bank in Japan is offering a deposit account where the rate of interest paid depends on how well Albirex Niigata performs in the first division of the J Soccer League.
Japanese interest rates are derisory, so the offer to double the rate paid to 0.7% if Niigata wins the league is probably rather tempting. If the team comes second or third, the rate os 0.55%; if 4th or 5th, it's 0.5%, and so on down by 5 basis points every two places to 10th spot.
The bank is willing to take ¥3bn in deposit on this deal, which seems to offer some interesting arbitrage opportunities.
Then again, I have no idea how unpredictable this league is. I mean, for Chelsea, Man Utd, Arsenal or Liverpool, an interest rate depending on position would probably just run from first to 6th.
+++++++
"Major stakeholder in Virgin Atlantic Might Be Bailing Out".
It's not going well for Mr Pickle at the moment, is it? First it's shown that his smiling publicity stunt in a biofuel car was actually in a car that was being filled up with petrol most of the time, because there was no garage within a hundred miles with the eco-friendly fuel available.
Then Virgin Media suffered "the curse of NTL". Despite dropping the name, the infrastructure of the service not only remained crap, but remained crap without half the programmes that you want to watch (such as Lost), after Virgin Media got into a price dispute with Sky.
And now a 49%-owner of Virgina Atlantic wants out. And who might this be? Those who fall for the lazy media journos habit of associating everything carrying the name Virgin with Mr Pickle might not be aware that a 49% stake in Virgin Atlantic has been owned by Singapore Airlines since 1999. And now they've basically decided that the return on equity that it's getting from the deal (Virgin Atlantic made a paltry profit of £40m on turnover of £1.8bn in 2005) just ain't worth it.
Expect some serious negotiations from Mr Pickle with the powers-that-be in the aviation industry over the next few months. With luck that will keep him off our TV screens.
+++++++
Japanese interest rates are derisory, so the offer to double the rate paid to 0.7% if Niigata wins the league is probably rather tempting. If the team comes second or third, the rate os 0.55%; if 4th or 5th, it's 0.5%, and so on down by 5 basis points every two places to 10th spot.
The bank is willing to take ¥3bn in deposit on this deal, which seems to offer some interesting arbitrage opportunities.
Then again, I have no idea how unpredictable this league is. I mean, for Chelsea, Man Utd, Arsenal or Liverpool, an interest rate depending on position would probably just run from first to 6th.
+++++++
"Major stakeholder in Virgin Atlantic Might Be Bailing Out".
It's not going well for Mr Pickle at the moment, is it? First it's shown that his smiling publicity stunt in a biofuel car was actually in a car that was being filled up with petrol most of the time, because there was no garage within a hundred miles with the eco-friendly fuel available.
Then Virgin Media suffered "the curse of NTL". Despite dropping the name, the infrastructure of the service not only remained crap, but remained crap without half the programmes that you want to watch (such as Lost), after Virgin Media got into a price dispute with Sky.
And now a 49%-owner of Virgina Atlantic wants out. And who might this be? Those who fall for the lazy media journos habit of associating everything carrying the name Virgin with Mr Pickle might not be aware that a 49% stake in Virgin Atlantic has been owned by Singapore Airlines since 1999. And now they've basically decided that the return on equity that it's getting from the deal (Virgin Atlantic made a paltry profit of £40m on turnover of £1.8bn in 2005) just ain't worth it.
Expect some serious negotiations from Mr Pickle with the powers-that-be in the aviation industry over the next few months. With luck that will keep him off our TV screens.
+++++++
