Judging by their behavior, most people have an obsession with wealth. Politicians promise to create it, most popular magazines are filled with gossip about those who have it, and the average person spends much of their adult life trying to obtain it. We are creatures obsessed with money, partly for what it can buy, but also as a thing of value in itself.
But most people misunderstand money. They don't really know how to obtain it, or how to hold onto it once they have it.
If you're interested in getting rich, I'm going to give you the simplest formula for doing so. In fact, if you follow it you're virtually guaranteed to build enough wealth to get you into the top 5% of society. As the shampoo advertisement says: "It won't happen overnight, but it will happen".
The hardest way to get rich
Before I go into my formula, let me tell you about hard ways to get rich.
One of the hardest is to be born into it. Of course, if you happen to enter this world as a Hilton, a Gates or a Windsor, then life is sweet. But since 99.9999% of the population aren't that lucky, I'm assuming you didn't win that particular lottery.
And speaking of lotteries, gambling is another very difficult way to get rich. Sure, some people buy a lottery ticket and win big, but most don't. You can gamble your entire life and you'll most likely end up broke rather than wealthy.
When I was younger, I thought the easiest way to get rich was to become famous through some kind of creative act. Stephen King got rich writing horror novels, so why not me?
I'm now much wiser and realize that the vast majority of novelists never even get published. Of those who do, most wallow in obscurity. Only very few make it anywhere near the best-seller list, and only one in a million will achieve any kind of serious wealth.
The same fate awaits the majority of musicians, software company founders, sportspeople and website creator. For every Google that makes its owners billions, there are a million websites that lose money. Creativity is the most fun and rewarding way to get rich, but it's also a very difficult way.
The reason the media raves about and idolizes those who've built wealth through creativity is because they're so rare. You don't hear about the vast majority who wallow in obscurity and poor pay, because they're not interesting. "Young genius makes $1 billion from website" is a great headline "Ten thousand young geniuses make nothing from their hard work" isn't.
I'm not saying you shouldn't keep your dreams alive. It's one of the best parts of life. But this article isn't about the most fun way to try and get rich - it's about the easiest way.
Okay, here's the system.
Step 1: Get a well-paid job
This is a reasonable amount of work, and takes a few years, but it's a virtually guaranteed way to make a good income. If they're willing to put in the work, almost any intelligent person can get a job paying $100,000 or more within the space of a few years. While it's not easy, it is by far the easiest and most likely way to secure a good income. In fact, I've already written an entire article on how to get a job paying more than $100,000 a year for those who wish to pursue this avenue.
Step 2: Get good tax advice
However you make your money, your number one expense is likely to be funding the government. In most developed countries, the average worker pays around 30% of everything they earn straight into the taxman's pocket. If you've taken my job advice, you'll most likely pay even more than that.
While taxation is necessary to fund the good things governments provide, you don't do yourself any favors by paying more than your fair share. If you're serious about building wealth, get a good accountant who understands how to legally minimize your tax bill.
Step 3: Save 20% of everything you ever earn
As soon as you get paid, arrange to have 20% of your income removed into a savings account. Many banks can do this automatically for you. Keep your savings account separate from your spending account, and you'll barely miss this money.
There's a saying in economics "expenses rise to meet income". This means money that's easily available to you is certain to be spent. That's why most people's paychecks disappear before their next payday. They get used to having a certain amount to spend, and habitually run down their bank account.
Have your savings moved somewhere it's a hassle to get them out of to avoid this risk. Many high interest accounts require you to give them a few days notice, which is ideal for this purpose.
Step 4: Conservatively invest the funds that build up in your savings account
Once a month, go into your savings account and divide the money by investing it into the three core conservative assets: shares, property and cash. Open a mutual fund account for shares, a property fund for property, and a money market fund for cash. Look for share and property funds that invest in a broad range of assets and most importantly charge very low fees. An index fund is ideal for the shares. An index of property funds is ideal for property.
Put an equal amount into each account. This will diversify you against risk in any one particular asset. If you're younger, this rule is a little bit flexible, allowing you to take a little more risk and put more into shares and property if you like.
Step 5: Reinvest any income you get from your assets straight back into buying more assets
Mutual funds and property funds pay dividends. Money market accounts pay interest. Don't take this income into your spending account. Instead, select the option to have it reinvested into the fund that generated it.
Step 6: Never touch these funds and do your best to ignore them
The business press, like the mainstream press, loves a crisis. "Shares to skyrocket" or "Property to plummet" headlines will sell many more copies than "Things to continue steadily". All markets go up and down. Every day, some speculation will be published about some crisis or opportunity.
Ignore it all.
Just keep putting the 20% into your assets. Sometimes they'll go up and sometimes they'll go down in value. But over the long term, they'll almost certainly go up.
Step 7: Wait a decade
Do what I've outlined above and in a decade you'll be rich. Sure, you won't be Bill Gates, but you'll almost certainly be in the top 20% of wealth holders. Wait another decade and you'll be in the top 5% or higher.
That's the plan. It's not the most exciting or glamourous way to build wealth, but it's the easiest. Quite simply, this is how most rich people got there.
You too can join them, if you follow it.
The easiest way to get rich
Make Money Writing Articles for Infobarrel
As how writing is my passion, I’m sure there are many who belongs to this category. I love writing and at the same time wishes to make money writing online. Do you like to integrate Google AdSense to make money writing online? Why are you waiting then; start to make money with InfoBarrel, one of the good online writing websites like Triond.
Source: thefrugalhome
When reading the title, you might think “Aah…yet another writing site paying peanuts.” This is how I thought when I came to know about InfoBarrel. Anyways, as I love writing and want to earn more money to pay my bills, I thought of giving InfoBarrel a try. There is no harm in trying out; I slowly read through their FAQs and the way they work. How did I start making money?
Writing is my passion and I love writing about anything under the sun. I already write for few online writing websites including Triond. InfoBarrel is an online writing website where you can post articles, videos, audios or presentations. I am not that savvy in creating videos or audios and therefore I decided to stick on with writing articles. The entire signing up process is pretty simple.
How do you sign up with InfoBarrel and start making more money writing articles? The sign up form is pretty simple; you just have to fill in the required details and have to verify the e-mail that is sent by InfoBarrel. Once you are done with this step, set up your profile. You are now all set to earn money. Oh…I forgot to mention one step; you have to link your Google AdSense ID to make money. They share 75% of the revenue generated. I think majority of the websites share only 50%. Start writing articles that will fetch more traffic and I would say you have already started making money with InfoBarrel.
Few important points you should remember when writing for InfoBarrel:
Articles should be written by you and you should not have posted this article in any other place earlier.
It takes about 24 hours to approve the article you wrote.
You should not submit the article to various other websites after InfoBarrel approved your article.
If you do not wish to wait for 24 hours to get your article approved and published, you may have to get the pre-approved status. To do so, you must have:
10 approved articles
Been a member for a minimum of 14 days
Should not write articles for the sole purpose of creating backlinks
Should write on a variety of topics rather sticking to one particular category
Should have good knowledge in English and your articles should be free from spelling mistakes and grammatical errors
You can also earn by referring other writers to InfoBarrel. You get 2% of what they earn.
I think it is always better to have more than one channel to earn money. I’m happy writing for both InfoBarrel and Triond.
How to Prevent Identity Theft
How Identity Fraud Occurs
Although fraudulent transactions have become easier to execute online, the actual methods used by thieves in identity theft are more likely to be of the old fashioned kind.
According to Javelin Strategy and Research, only 12% of identity fraud cases involved identity theft via online methods such as phishing, spyware or hacking.
How Identity Fraud Occurs
Most cases of identity theft are carried out via 'old fashioned' methods, 'in the flesh' so to speak, where the perpetrator is able to obtain hard copies of identification documents, look over someone's shoulder at the automatic teller machine (ATM), steal wallets and checkbooks, or simply steal mail.
Surprisingly, Javelin Research reports that 17% of victims knew their offenders through family, friends and work colleagues.
How to Prevent Identity Theft
The following points are designed for consumers as a guide to assist in identity protection.
1. Change pins and passwords regularly and keep them private. Be aware of who is in the queue at the ATM and make it difficult for them to see pin numbers being entered.
2. Online passwords should be at least 6-8 characters long, include 2 numbers and at least 1 capital letter.
3. Reconcile credit card and bank accounts regularly or at least review all transactions in each statement. Any unfamiliar transactions should be investigated further and reported immediately.
Although many victims find out that their identity has been used fraudulently within three months of the crime, almost 20% do not find out for several years. (spendonlife.com)
4. Do not provide copies or details of photo identification such as a drivers licence, passport, student card or even of bank account details to anyone who is not an employee of a reputable organisation and without any good reason.
Unfortunately, in this age of technology, criminals need little more than a drivers licence number, expiry date and one other form of identification to set up a debt facility online with a stolen identity.
5. Do not make purchases over the internet with a credit card unless it is a reputable company.
Furthermore, when entering that company's webpage to make a purchase, ensure the URL is typed in rather than clicking on a link.
Facilities like Paypal are highly recommended to make online purchases as credit card and bank details remain hidden from the merchant.
6. Do not click on emails allegedly from banks or financial institutions asking for confirmation or renewal of online access usernames or passwords. These emails are always fake and should be forwarded to the institution's fraud department for investigation. Most companies have an email facility to receive these reports at hoax@companywebsiteaddress.
Banks and financial institutions never ask their clients and customers to make such changes via email.
7. Destroy all unwanted paper communications with a shredder. Thieves only need a full name, address and a couple of other details easily found in mail communications to be able to access an account.
8. Pay attention to the time and date of when online banking accounts were last accessed. Lost and stolen cards, wallets and checkbooks and anything unusual should be reported immediately to the financial institution.
9. Put a lock on the mailbox or use a secure locked mailbox at the post box to receive mail which could potentially contain sensitive information useful to identity thieves. Alternatively, change all communications to be received electronically and purchase appropriate computer software protection for the office and home computers.
10. Keep all wallets, checkbooks, handbags, purses and mail in a safe area of the house and office which is inaccessible by visitors.
No Method of Identity Protection is 100% Safe
Unfortunately, there is no 100% guaranteed method of identity protection, but if these basic precautions are taken, consumers and investors can make it more difficult for identity thieves.
How Safe Is Online Banking?
Keep Online Banking Details Safe and Protect Money From Wrong Hands
When it comes to managing one’s finances traditional banking methods are deemed the safest and most favourable. Traditional methods involve safe-to-face interaction with the bank staff who can handle simple transaction queries or clarify other simple matters such as how long a cash deposit will take to clear into the account.
However, there may be times in a day or even a week when a trip to the local bank is hampered by other daily activities. This, among other reasons, is why online banking has been introduced – conveniently. Over the years there has been much scepticism surrounding the safety of online banking. This is partly because some people are still unfamiliar with the internet.
But mainly, as reports suggest, it is because of rising number of customers’ personal banking details being stolen and misused on the internet. There are various reasons for this misfortune but learning to keep sensitive information secret can eliminate many of these and ensure an easy, safe and convenient experience of banking on the internet as is intended.
Keep Online Banking Details Safe
This includes any passwords, pin numbers and other security information needed to access bank accounts online. Banks would normally send the customer’s pin and log-in Ids in a secure mail and advise the customer to memorise and then destroy the letter on which the information was provided or keep it in a safe place.
Similarly, never leave written notes of password reminders or hints lying around the house or near the computer as, if found, they can facilitate unauthorised access to online accounts. Instead keep them in a home safe where there is only limited and controlled access.
Always completely log out of online banking page by clicking the ‘log out’ button located on the page once finished. This ensures that all temporary files are deleted and there will be no chance of anyone re-logging in.
Safety Online for All
All banks offering online banking facilities have plausible security measures in place to protect customers from online criminal activities. One such measure is the introduction of card readers which help to combat fraudsters’ sophisticated methods used in attempting to obtain security information from online banking customers.
Card readers work along with the bank card and its corresponding pin number. Without any one of these, it would not possible to access online banking. If in possession of a card reader then always use this method to log on to online banking as they add extra levels of protection to online banking.
Respond to Phishing E-Mails Can be Unsafe
Sometimes fraudsters are able to obtain information through phishing e-mails (e-mails, claiming to be from a legitimate company, sent to someone in an attempt to get their personal information). These e-mails usually contain a link that would redirect the recipient to a fake website where they will be asked to submit, ‘update’ or ‘confirm’ information such as their date of birth, passwords and bank details. So avoid clicking on links in e-mails that are asking for banking information; always use the methods recommended by the bank to log in.
Online banking on the whole has proved to be a safe and convenient facility for banking customers the world over. Law enforcements in different countries have also helped to alleviate internet crime, making online banking safer.
In the UK, for example, the law states that it is an offence for any business or firm to send unsolicited e-mails to an individual’s e-mail address. Therefore, if the individual has not given their e-mail address to the sender then any received correspondence must be treated as phishing mail and deleted immediately.
Govt sets tariffs in bid to end telecoms feuds
New regulations also designate limits on promotional tariffsTHE government has taken what it considers a conclusive step Wednesday to end a price war it says has been undermining profitability in the mobile-phone sector and eroding government revenues by setting a minimum tariff operators can charge customers.
Under the terms of an inter-ministerial prakas, or edict, signed Monday by the telecoms and finance ministries but not released until Wednesday, operators will not be able to offer calls below US$0.045 per minute, not including taxes.
Calls across networks cannot be offered at less than $0.0595 per minute under the edict signed Monday by Minister of Posts and Telecommunications So Khun and Minister of Economy and Finance Keat Chhun.
So Khun said the prakas will also bring to an end dominant mobile-phone operators’ practice of blocking calls from customers of competitors, although he refused to name those most responsible for the practice.
Those blocking calls from other operators risk losing their licence and being forced to pay compensation to affected parties and the government for any revenues lost as a result, he said.
“This directive is absolute and makes sure that all operators live together in harmony,” So Khun said.
However, the prakas allows operators to offer discounted rates and calling specials, including free minutes, during special promotions with prior permission from the ministry.
Each promotion is limited to 30 days in duration, and prices cannot drop below 50 percent of the minimum tariff for within network calls during offers. Promotions on cross-network calls will not be allowed, according to the prakas.
Ministry Director General Mao Chakrya said there are no limits on the number of promotions each operator can offer each year. “There are a lot of holidays in Cambodia,” he said.
Operators have been given 15 days from Monday to ensure all advertising and calling plans are in line with the new rules, and all advertisements must be cleared by the ministry in future.
So Khun said the ministries developed the prakas only after efforts to mediate between operators over ongoing issues of pricing and interconnection failed.
“We have exhausted all means to resolve the problems, but it has not been successful,” he said. “These challenges could not be addressed if the government did not intervene.”
The government has taken a raft of measures to bring order to the sector this year after new operators – Beeline in particular – began winning customer share from incumbents through discounted calls.
The incumbents accused the newcomers of price-dumping, while the new entrants in turn accused the major players of blocking access to their networks.
Measures include a prakas on interconnectivity issued on October 5 setting out a new framework for calls across networks, a September 29 inter-ministerial circular warning operators to desist from any activities that destabilised the sector, and a government order signed by Prime Minister Hun Sen on October 21 threatening to revoke the licences of operators found guilty of blocking calls.
Economy remains in peril: IMF
Banking and garment sectors must evolve, organisation says
The outlook for Cambodian garment exports is clouded by structural changes.
THE International Monetary Fund issued a stark warning to Cambodia’s struggling garment industry and financial sector in a report late Tuesday that highlighted persisting structural problems. The organisation said that in 2009, Cambodia will experience its first recession in years.
Following consultations with the Cambodian government that ended on November 18, the IMF reported that the Kingdom’s banking sector remains vulnerable despite increasing liquidity after a credit squeeze that started a year ago.
“While banks’ liquidity has improved, staff noted that bank balance sheets have further weakened and credit risks have risen sharply over the past year,” the report said.
The report pointed to rising rates of non-performing loans (NPLs) – which hit 5.25 percent in June – as a continuing concern for the industry, “but the figures officially reported by banks likely fail to capture the true extent of the problem”, it added.
The National Bank of Cambodia (NBC) has increased oversight of the sector and conducted spot checks to complement more-stringent classification rules, the IMF said, but a shortage of resources has prevented adequate supervision.
More damning was the report’s suggestion that the central bank has not shown sufficient willingness to clamp down on the banking industry, a sector that has continued in some cases to report zero NPLs.
“While the authorities agreed on the need to deal firmly with problem banks, they preferred a more gradual approach,” the IMF said, without naming the lenders that continued to underreport bad loans.
“The NBC has taken measured steps to deal with problem banks, with much more forceful action needed to reduce systemic risks,” it added.
NBC officials were unavailable for comment Wednesday.
Stephen Higgins, CEO of ANZ Royal, agreed with the IMF that the central bank had made progress, adding that banks in Cambodia remain well-capitalised compared with other markets, a factor that helps to combat the threat of bad loans.
“The NBC has already been quite strict in enforcing the new asset-classification regime, and I think there is no doubt that their supervision capacity is stronger,” he said Wednesday. “I think the NBC should be applauded for the steps they are taking.”
The IMF said that profitability of banks will continue to be adversely affected while increasing deposits remain with the central bank instead of being offered to lenders, but Higgins said demand remains low and quality borrowers lacking.
ACLEDA Bank profits soared more than 72 percent in the third quarter compared to the previous period, and ANZ Royal saw profits rise 25 percent in the same quarter over the period from January to March.
But the persistent lack of openness in the sector means other banks have not broken down their financial results in public.
The IMF maintained its prediction of a 2.75 contraction in GDP for this year, citing the continuing problems facing the tourism industry, property sector and, most notably, garment exports in what is set to be the worst economic performance by the Kingdom in recent years. Cambodia saw double-digit GDP growth in 2006 and 2007, and 6.7 percent last year.
The garment sector, the country’s primary export industry, remains mired in a downturn with little sign of recovery given the underlying structural issues that have kept costs high and maintained an enduring “productivity gap” with the rest of the region.
“The outlook for Cambodian garment exports is clouded by structural changes in the market, in addition to lagging competitiveness,” the IMF said. “The global recovery is not expected to be consumer-led, dimming prospects for 2010.”
Statistics compiled by the US Office of Textiles and Apparel show that Cambodia’s garment downturn in the first eight months – a 23.1 percent decline in exports to its primary market the United States – was more severe than the global industry average of a 14.3 percent drop, showing that the Kingdom had failed to compete during the global economic crisis.
Bangladesh, by contrast saw exports rise 4.7 percent, and neighbouring Vietnam’s shipments to the US dropped just 1.2 percent over the same period.
“We have always tried to address the issues of costs and productivity; however … some of these issues, such as infrastructure deficiencies, are not within our control and take a long time to resolve,” Ken Loo, secretary general of the Garment Manufacturers Association of Cambodia (GMAC), said Wednesday. “The issue of the price of electricity is a case in point.”
The IMF report noted that Cambodian electricity cost US$0.22 a kilowatt-hour versus just $0.07 in Vietnam.
Garment bulk buyers in Taiwan and Hong Kong, for example, sourced from “the most cost-efficient” factories first, the report said.
“Declining orders [during the crisis] have left fewer allocated to garment manufacturers with relatively high unit costs and compress profit margins for all.”
Cambodia is unlikely to benefit from reduced tariffs on its garments exported to the US anytime soon, the IMF predicted, given that relevant free trade agreements are currently stalled “due to political considerations”, including the Doha round.
The Kingdom is subject to average tariff of 16 percent on shipments to the US.
Loo said that although GMAC continues to work with the government and relevant stakeholders in a bid to fix underlying weaknesses in the sector, the future remains unclear.
“Without … cooperation from all parties, it would be extremely difficult for us to recover from this current economic crisis,” he said.
Parkson plans to open store in capital: report
Malaysian shopping chain Parkson Group plans to open its first Cambodian outlet in Phnom Penh by early 2011, according to a report Wednesday in Malaysia’s Star newspaper.
The paper quoted Parkson Retail Group Managing Director Alfred Cheng as saying the company would launch a flagship retail store as part of an overseas growth plan in which it aims to expand its retail space by 15 percent each year in the countries where it operates.
The retail group currently has 35 stores in Malaysia, 44 in China and five in Vietnam, occupying more than 1.6 million square metres of retail space.
Neither Cheng nor Parkson Corp Chief Operating Officer Toh Peng Koon responded on Wednesday or Thursday to a request for details on its proposed Cambodia venture.
However, the most likely location for the new store is in a mixed-use development planned for Phnom Penh by JSM Indochina Ltd, an AIM-listed closed-end fund focused on retail and residential real estate investment and development in Vietnam and Cambodia.
The fund announced in December 2007 it had signed a memorandum of understanding with Parkson Vietnam Co Ltd, a subsidiary of the Parkson Group, to take on a long-term lease agreement as the anchor tenant for its proposed Embassy Centre development.
Embassy Centre will feature 30,515 square metres of retail space, along with 100 high-rise serviced apartments from one to three bedrooms. The property is situated near Central Market, the US embassy, Wat Phnom, the governor’s house and Raffles Hotel Le Royal.
Under the terms of the proposed lease agreement, Parkson will lease 20,000 square metres of the gross lettable area for a term of 20 years. The proposed lease agreement had not been finalised at the time, and was subject to further negotiations and due diligence by Parkson, JSM said in 2007.
Craig Jones, the chief executive officer of JSM Capital Indochina, which manages the investment portfolio of JSM Indochina, could not be reached for comment this week.
However, he told the Post in late October that the Embassy Centre would “absolutely change the face of retail in Phnom Penh”. It would be up to Bangkok standards but on a scale to meet Phnom Penh’s needs, he said.
JSM was close to finalising a contract with a construction company to push ahead with the development, which was a cornerstone of the company’s AIM listing in 2007, Jones said.
The centre will be on a “big transportation corridor”, Jones said, meaning it is unlikely to cause traffic congestion as expected with other developments planned for the capital.
The development would also contain ample parking, which Jones said would help develop the city centre. “The community needs parking. We are providing 700 parking spaces in the central city, which is beneficial to the shopping centre and beneficial to the Phnom Penh community,” he said.
Jones recently resigned as executive director of JSM Indochina ahead of a vote on a leadership challenge by San Francisco hedge fund Passport Capital LLC. JSM Capital Chief Financial Officer Rowell Tan also resigned as executive director from the six-man board.
Non-executive Chairman Michael Tanner was ousted in the vote Monday, which also called for a return to shareholders of uninvested capital and a review of the listed fund’s investment strategy.
The World's Most Powerful People
The 67 heads of state, criminals, financiers and philanthropists who really run the world.
"I love power. But it is as an artist that I love it. I love it as a musician loves his violin, to draw out its sounds and chords and harmonies." --Napoleon Bonaparte
Power has been called many things. The ultimate aphrodisiac. An absolute corrupter. A mistress. A violin. But its true nature remains elusive. After all, a head of state wields a very different sort of power than a religious figure. Can one really compare the influence of a journalist to that of a terrorist? And is power unexercised power at all?
In compiling our first ranking of the World's Most Powerful People we wrestled with these questions--and many more--before deciding to define power in four dimensions. First, we asked, does the person have influence over lots of other people? Pope Benedict XVI, ranked 11th on our list, is the spiritual leader of more than a billion souls, or about one-sixth of the world's population, while Wal-Mart ( WMT - news - people ) CEO Mike Duke (No. 8) is the largest private-sector employer in the United States.
In Pictures: The World's Most Powerful People
Then we assessed the financial resources controlled by these individuals. Are they relatively large compared with their peers? For heads of state we used GDP, while for CEOs, we looked at a composite ranking of market capitalization, profits, assets and revenues as reflected on our annual ranking of the World's 2000 Largest Companies. In certain instances, like New York Times Executive Editor Bill Keller (No. 51), we judged the resources at his disposal compared with others in the industry. For billionaires, like Bill Gates (No. 10), net worth was also a factor.
Next we determined if they are powerful in multiple spheres. There are only 67 slots on our list--one for every 100 million people on the planet--so being powerful in just one area is not enough to guarantee a spot. Our picks project their influence in myriad ways. Take Italy's colorful prime minister, Silvio Berlusconi (No. 12) who is a politician, a media monopolist and owner of soccer powerhouse A.C. Milan, or Oprah Winfrey (No. 45) who can manufacture a best-seller and an American President.
Lastly, we insisted that our choices actively use their power. Ingvar Kamprad, the 83-year-old entrepreneur behind Ikea and the richest man in Europe, was an early candidate for this list, but was excluded because he doesn't exercise his power. On the other hand, Russian autocrat Vladimir Putin (No. 3) scored points because he likes to throw his weight around by jailing oligarchs, invading neighboring countries and periodically cutting off Western Europe's supply of natural gas.
To calculate the final rankings, five Forbes senior editors ranked all of our candidates in each of these four dimensions of power. Those individual rankings were averaged into a composite score, which determined who placed above (or below) whom.
U.S. President Barack Obama emerged, unanimously, as the world's most powerful person, and by a wide margin. But there were a number of surprises. Former President George W. Bush didn't come close to making the final cut, while his predecessor in the Oval Office, Bill Clinton, ranks 31st, ahead of a number of sitting heads of government. Apple's ( AAPL - news - people ) Steve Jobs easily made the list, while Arnold Schwarzenegger, the movie star governor of California (which alone has an economy larger than Canada's) did not.
This ranking is intended to be the beginning of a conversation, not the final word. Is the Dalai Lama (No. 39) really more powerful than the president of France (No. 56)? Do despicable criminals like billionaire Mexican drug lord Joaquín Guzmán (No. 41) belong on this list at all? Who did we overlook? What did we get wrong? Join the conversation by commenting now.
*source: forbes.com
Stock Basics FAQ
Whether in the throes of an economic downturn or not, when you turn on the news you will inevitably encounter reports on how the stock market did today.
If you’re invested in individual stocks, then you should be quite mindful of the day-to-day fluctuations of the market. However, if your portfolio is invested across a diverse group of mutual funds, then what happens on a daily basis shouldn’t matter quite as much.
Your company may also present you with the opportunity to buy its stock at a discount through something called an employee stock purchase plan (ESPP) – or, it may reward you with a few stock options. And who knows, you may become such a staunch believer in a particular company that you want to buy and hold a couple of its shares (to complement your already diversified portfolio, of course).
Whether you’ve got equity invested in your company, you’re investing in mutual funds or individual stocks, or if you’re an aspiring investor or day trader, it’s good to know a thing or two about how the underlying stocks work.
What exactly is a stock?
A share of stock represents a unit of ownership in a public company. (A company “goes public” after they hold an initial public offering, or IPO. This provides companies with a way to raise money: the company sells shares to the public, and those investors receive a slice of the company, or stock, in exchange.)
There are more than 8,400 stocks - also known as equities - that trade in the U.S.
Individual investors typically hold a company’s “common stock.” They’re entitled to dividends (if the company pays them) and get to vote on issues such as electing directors to the board, as well as other matters.
If a company goes kaput, common shareholders line up behind creditors and two other types of investors (bond holders, preferred stock holders) before they can get their money back.
All stocks have “ticker” symbols, or stock symbols – these are the letters (or letter) that identify a company. You can use them to look up a stock quote online. Google’s ticker symbol, for instance, is GOOG. If you’re watching CNBC or another news channel, these symbols will often crawl across the bottom of your screen with the latest stock quotes.
Where do stocks trade?
They trade on a stock exchange -- a central market place of buyers and sellers -- where stock orders are routed and filled. There are a number of exchanges, though the New York Stock Exchange and the Nasdaq Stock Market are two major stock exchanges. The NYSE - also known as the Big Board - still has a trading floor where traders shout and yell and do their thing, though it’s moving towards a more electronic model. The Nasdaq is completely electronic.
What are the major stock market indexes?
There are several indexes that measure the performance of the stock market, or all stocks collectively, as well as particular pieces of it. We’ve listed some of the most referenced:
Dow Jones Industrial Average - When people talk about how “the market” is doing, they’re usually referring to the DJIA, which tracks the performance of 30 large stocks with well-established track records, from American Express to Walt Disney.
Standard & Poor’s 500 Index – The S&P 500 tracks the largest American companies in a variety of sectors, from finance, health care and energy to utilities and telecommunication services.
Nasdaq Composite Index – this represents the 3,000-plus companies – which includes both U.S. and non-U.S. companies - listed on the Nasdaq Stock Market. It contains a lot of technology-related stocks, so it’s a good indicator for how that sector is faring.
Russell 2000 – this tracks the performance of 2,000 small-capitalization stocks.
What’s the difference between large-cap, mid-cap and small-cap stocks?
First, let’s explain what “cap” stands for. “Cap” is shorthand for market-capitalization: this is a way to measure the size or value of a company. It’s computed by multiplying a company’s stock price by the number of its total shares outstanding. Capitalization is also a barometer of risk -- typically, smaller companies tend to be riskier and more volatile than larger companies.
Here’s how the various segments are broken down (keep in mind that these ranges may vary a bit, depending on who you ask):
Large-capitalization stocks: These are the big guys, or companies whose total market-cap is worth $10 billion or more.
Mid-caps stocks: these stocks have a market-cap approximately between $2 billion and $10 billion.
Small-cap stocks: their market-cap is valued somewhere between about $300 million and $2 billion.
Micro-caps: these are the small-frys, with market-caps less than $300 million.
What’s the difference between a growth stock and a value stock?
Stocks that are trading for less than their worth (or less than their profit levels and other fundamental measures typically command) are deemed “value” stocks. They’re considered good bargains, whose worth should eventually be recognized by the market. At that point, value investors would be rewarded with a higher stock price.
Investors in growth stocks aren’t looking for bargain basement prices – instead, they’re focused on a company’s growth prospects. They may pay a little more for growth stocks because they believe its revenue and profit outlook are well worth it – and will eventually propel the stock even higher.
What’s a dividend?
This is payment made by the company to stockholders – it’s a portion of a company’s earnings that’s paid out on a per-share basis. Dividends are usually paid quarterly and are expressed as a percentage of the stock’s current market price.
The payment of dividends also sends a signal to investors about the company’s financial health: if they increase the dividend, investors take it as a positive sign. The company is doing well and has surplus cash to dole out to investors. If they stop paying or cut their dividend, investors are likely to get nervous.
Not all companies pay dividends – for instance, younger companies focused on growth are often better off reinvesting that cash into the company. Financial services, utilities and auto companies tend to be regular dividend-payers, though financial and utilities are known for increasing their payments over time.
How do you know whether a stock is any good?
Evaluating stocks involves a lot of hard work, which is why we recommend investing in funds (that requires its own kind of homework, but at least you’re not placing a bet on one company).
Picking stocks is much like evaluating any business or company you might consider buying. After all, when you buy a stock, you’re essentially purchasing a stake in a business.
So when assessing a stock, you want to think about the company’s profitability. How are you going to get paid? Does the stock pay a dividend? Does the company invest its earnings back into the business in order to expand it, increase its value, which will hopefully lift its stock price? Who’s the competition?
One popular measure you’re likely to hear about is a stock’s price-to-earnings ratio, or P/E ratio. This figure takes a company’s stock price and divides it by its annual earnings per share (total net income divided by total shares outstanding). A stock that trades at $30 a share and has annual net income of $3 a share would have a P/E of 10. (You can typically find a company’s earnings information on their website in their “investor relations” section.)
Market pros will often compare a stock’s P/E to the overall market’s P/E. For instance, if the S&P 500’s P/E is currently trading at 18, shares of our company would appear to be undervalued. If it was trading above 18, it might be considered expensive. That doesn’t mean you should shun a stock just because it’s expensive or buy it just because it appears cheap. For instance, a stock with a high P/E might have little in the way of earnings today, but its prospects could be really positive.
What happens when a stock splits?
A stock split increases the number of shares a company has outstanding. So, for instance, if an investor owns a share of stock trading at $50 and it undergoes a 2-for-1 stock split, the investor will be left with two shares worth $25 a share (dividends will also drop in proportion).
Investors typically view stock splits as a good thing – and often bid up the shares - even though, fundamentally, nothing has changed. Stock split enthusiasts, however, say a lower share price makes the stock appealing to a wider range of investors.
A reverse split is just the opposite: it reduces the number of shares and the stock prices increase.
What to Know When Buying Stocks
Where can I buy stocks?
It easy to buy stocks through an online brokerage -- such as Charles Schwab, E*Trade or Fidelity -- though you’ll need to set up an account first. You can also buy stocks through several banks like Wells Fargo and Bank of America that also offer investment accounts, plus old-fashioned stockbrokers at full-service firms such as Smith Barney or Merrill Lynch.
You might also be able to buy stocks through your employer. Some 401k’s offer what’s known as a self-directed brokerage option. This is a brokerage account within your 401k, which typically provides a broader selection of investments, including stocks. Before you purchase stocks here, find out what administrative fees or transactions costs there are. They can add up.
You can also purchase stocks through a dividend reinvestment plan, more commonly known as a DRIP. They can be well-suited for people that are new to the market and have little money to invest. DRIPs, offered by more than 1,000 companies, allow you to build a position in a stock by reinvesting your dividends and, if you want, sending in extra cash to buy even more shares. Many DRIPs charge very little or nothing at all to participate, though more have started charging fees in the past five years. If you want to sign up, you must own at least one share of the company already – you can do that online through a discount brokerage.
There are also direct-purchase plans, which are essentially DRIPs that don’t require that you own shares before joining: you can simply make the initial investment through the company (or the agent administering the plan). You really need to evaluate each plan specifically to see if it offers a better deal than buying shares through an online brokerage.
What’s a bid price and ask price, or bid-ask spread?
The bid price is what a prospective buyer is willing to pay for a security, while the ask price is what the seller is willing to accept. The difference between the two is the “spread.” Spreads tend to be wider in securities that don’t trade very frequently – the wider the spread, the higher the cost to buy that security.
How much does it cost to buy and sell stock?
It varies by provider, though it also depends on the size of your account and how frequently you trade. The more you trade, the cheaper it gets (that doesn’t mean we think active trading is a good idea; we don’t). Several discount brokerages have really lowered the bar in terms of prices. Online trades can cost you anywhere from nothing to about $20, depending on the type of plan you sign up for.
If you go through a full-service broker, it’s going to cost you a lot more per trade, though you might receive more services.
What do I need to know before actually placing a stock order?
There are several options when it comes to buying or selling stocks. For instance, you can request that you buy or sell a stock at a certain price. We’ll go through a few of your options.
Market order: this is an order to buy or sell a stock at the current market price. You may not necessarily get the exact price you saw on your screen when you pressed the button -- but hopefully you’ll get something pretty close.
Limit order: this is an order to buy or sell a stock at a specific price. A buy limit order will only be executed at the limit price or lower, while a sell limit order will only be executed at the limit price or higher. Keep in mind that limit orders may not get filled because the market price may quickly surpass your limit before it can be executed.
Stop order: an order to buy or sell once the stock reaches a specified price, or stop price. When that’s reached, the stop order becomes a market order. The problem with these is that they can be activated by a short-term blip in a stock’s price. A sell stop order will sell the security at the best price after it goes below the stop price. A buy stop order is typically used to limit a loss or protect a profit on a short sale.
Stop limit: this is a cross between a stop order and a limit order. Once a stop price is reached, the order becomes a limit order.
My company says I can buy its stock at a discount. Is it worth it?
Employers can sell company stock to employees at up to a 15% discount to the current market price, according to the PSCA. Many advisors caution that no single stock should comprise more than 10% of your portfolio. When that company is also your employer, you may decide to be even more conservative. After all, if your company hits a rough patch, you don’t want to have to worry about both your livelihood and your retirement account.
One option here: Buy the stock at a discount and then sell it immediately to lock in your gains.
What’s a stock option?
Companies often award stock options to employees as a form of compensation. Senior executives get options most often, though tech companies often award them to everyone. The employee is granted the “option” to buy company shares at a certain price for a specific period of time. They come in different flavors, but that’s the gist.
Don’t confuse employee stock options with options that trade on an exchange – though they’re similar in concept. Those option contracts generally give investors the right --- but not the obligation -- to buy or sell a fixed number of securities at a certain price within a specific time frame. Puts give you the right to sell, while calls provide you with the right to buy. Investors employ sophisticated strategies using these options to manage the risk in their portfolios – they can be used to generate income or hedge a bet, among other things. These are tricky to execute – and better left to sophisticated pros (or investors working with experienced investment advisors).
The World's Most Corrupt Countries
Corruption in nearly half the world's nations is not getting much better and, indeed, in many countries is intensifying--affecting virtually every aspect of life among peoples on every continent.
While a year ago, some 72 out of 158 nations surveyed by the international watchdog group Transparency International were classified as "corrupt," now 74 of 163 countries fall into the same category. A few, most notably India, managed to bootstrap themselves (just barely) out of the truly corrupt group, while others, particularly Iran, dug themselves more firmly into that camp.
TI has developed an index from 0 to 10 comprised of surveys of specialists, opinion leaders, business officials and human rights monitors who live, work or travel extensively in each of the countries ranked. The higher the score, the less corrupt the country. Tied for No. 1 this year, with a CPI “score” of 9.6 are Finland, Iceland and New Zealand. At the bottom, with a score of 1.8 is Haiti.
In Pictures: Most Corrupt Nations
Clearly, as those who monitor the ebb and flow of corruption around the world confess, the rankings are heavily subjective, and the nature of the corruption, particularly in the most severely corrupt nations, can differ markedly. But all share one particular characteristic. "You are dealing with societies where corruption filters into everyday life," says Laurence Cockroft, a senior TI official. "Most of us don't experience [it] in our daily life. My guess is that when the TI Index drops below 5, certainly below 3, you get into a different kind of territory."
Below 5, you have 119 countries out of 163, including such nations as Italy, Greece, South Africa, Brazil and China. Below 3 on the TI scale, some 47 nations drop off, though many are very close to the line.
Corruption can take on a host of different forms. It can, and often does, involve the police and judicial systems, including questionable enforcement of business contracts and other commercial litigation. It frequently involves diversion of a percentage of funds from critical projects into the pockets of senior government officials or their families--often in systematic skimming operations. Indeed, the U.S. State Department has labeled Belarus Europe's only remaining outpost of tyranny.
Unfortunately, most of the corruption occurs in countries whose populations are least equipped to deal with the consequences--the world's most deprived nations. In Cambodia, where two-thirds of the population earns less than $2 a month and one-third earns less than $1, a "substantial portion" of the $500 million to $600 million in donor aid each year is "lost to unofficial fees, an informal system of patronage, illicit 'facilitation' payments by businesses and individuals," one Transparency official said.
Such under-the-counter payments for everything from the simplest municipal services to appointments to many of the nation's highest offices, particularly those where there is the greatest access to illicit profits, are the effective rule of law in most of the nations surveyed--especially in Africa, Central Asia, and Latin America.
In general, the most corrupt nations are those with "an extremely weak institutional setting," according to Transparency officials. In Haiti, for instance, President Jean-Bertrand Aristide fled in the face of an internal uprising and international pressure after he sought to move a number of his political allies into the highest positions within the justice system. However, a corrupt police force is still almost ubiquitous there, helping to cement the country's place alone at the top of the most corrupt list.
The former Central Asian republics of the Soviet Union are grouped near the top of the list of most-corrupt nations. The U.S. State Department reports that "Turkmenistan has laws to combat corruption, but they are ineffective, and corruption is rampant." At the same time, nearby Tajikistan is subsisting largely on a narco economy. Another State Department report noted that "rampant illicit trafficking of Afghan opium and heroin through Tajikistan remains a serious long-term threat to Tajikistan's stability and development, fostering corruption, violent crime, HIV/AIDS and economic distortions."
Venezuela President Hugo Chavez, who repeatedly locks horns with the United States, has helped establish his country's presence on the most-corrupt roster by turning the national police force from a once professional body of crime fighters into an institution that is used largely for political issues, according to a Transparency official. The result is a collapse of control mechanisms that is a broad feature of administrations in many of the nations on the most-corrupt list. Moreover, in Venezuela, substantial income from the nation's vast oil wealth goes directly into the pocket of the chief executive according to TI.
"That's almost like pocket money," says the TI official. "There is a large share of the income, and we are talking many millions, used in a non-controlled fashion."
Among the least corrupt nations, the United States has slipped to No. 20 this year from No. 17 last year, while France, Belgium, Ireland and Japan leap-frogged over the U.S. in the rankings. The top 10--the world's least corrupt countries--has remained virtually unchanged with Finland, Iceland and New Zealand tied for the lead, followed closely by Denmark, Singapore and Sweden.
Furthermore, there does seem to have been some improvement in anti-corruption mechanisms in many nations, particularly the more developed countries. In the past year, such nations as Indonesia, China, the Philippines, Sri Lanka and Australia have ratified the United Nations Convention Against Corruption. Ironically, Japan, the 17th least corrupt country in the world, and South Korea, the 42nd least corrupt, have failed to ratify the U.N. document.
There is some skepticism over the recent ratification of the U.N. convention by Bangladesh, the world's eighth most corrupt country, though there is some hope that the recent seizure of power by a military junta may help the country turn the corner on corruption there. Some 40 business executives and public officials were seized in an anti-corruption push, while property ranging from a Hummer to three golden pheasant and some pet peacocks were seized in raids there, according to The New York Times.
One Transparency official observed that some countries like Japan have failed to ratify the convention because "that means you have sorted out your whole legal system by which you can enact all provisions of the convention," while others with more questionable records in stamping out corruption "perceive [the convention] more as a standard of [future] achievement."
*source: forbes.com
The Best Countries For Business, 2009
Everyone's in a downturn. A look at who's best equipped to bounce back.
The economic downturn that's swept the globe has crushed financial markets, exploded unemployment and shaken confidence in the banking system.
The disaster isn't shared equally, though. Some countries are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers.
Who are they? Our fourth annual Best Countries for Business ranking looks at business conditions in 127 economies. Topping the list for 2009: Denmark, for a second straight year, takes the No. 1 spot. The U.S. is up two spots to No. 2, Canada is up four spots to No. 3, Singapore is up four to No. 4 and New Zealand is up seven to No. 5.
Big movers included New Zealand (No. 5, up seven spots), followed by Jordan (No. 33, up 28), Australia (No. 8, up five), United Arab Emirates (No. 46, up 28) and Malaysia (No. 25, up 13).
This is not a tally of economies with high gross domestic product growth, or low unemployment. The goal is to quantify for entrepreneurs and investors the often-qualified information about dynamic economies and what they would consider desirable conditions for business.
Personal freedoms play a big part--it's hard to start a company or find talented employees under totalitarian regimes and military juntas. So we include measures of the right to participate in free and fair elections, freedom of expression and organization.
Taking care of investors, with laws assuring recourse for minority shareholders in cases of corporate misdeeds, is also important. As a barometer for corruption, Transparency International examines the number and frequency of incidents where corporate assets are misused for personal gain.
Amid the financial turmoil this year, we added stock market performance to reflect the extent of disrepair in countries' banking systems, as well as investor confidence in a recovery. Intellectual property rights, the promotion of free trade and low inflation, combined with low taxes on income and investment, give a snapshot of the conditions for business in each.
All was not lost in a tough year for believers in low taxes, free trade and limited bureaucracy. Despite swelling budget deficits, at least 50 countries recently cut or passed plans to cut taxes on individuals and businesses, including eight of the top 10, with individuals and investors in the U.S. and Norway left in the lurch.
The United Arab Emirates, in particular, has made strides in protecting intellectual property rights through initiatives like educational seminars for thousands of students, with support from corporations like Procter & Gamble (nyse: PG - news - people ), Estée Lauder (nyse: EL - news - people ) and General Motors (nyse: GM - news - people ). New Zealand improved its free-trade ranking by pursuing talks with India, Korea and Hong Kong, while securing the first (for a developed nation) free-trade deal with China late last year. Infrastructure improvements to the Jordanian stock market are improving enforcement of investment laws and compliance by broker members.
Sliding the most this year was Ireland (No. 14, down 12), which even saw plans for a Guinness mega-brewery shelved by parent Diageo (nyse: DEO - news - people ) as exports slowed. Uruguay (No. 66, down 22), Armenia (No. 94, down 31), Paraguay (No. 99, down 29) and Latvia (No. 45, down 13) rounded out this year's losers.
Expertise, research and published reports--from the Heritage Foundation, World Economic Forum, World Bank, Transparency International, Freedom House, Deloitte Tax, the U.S. Chamber of Commerce and Central Intelligence Agency--all contributed vital analyses of various socioeconomic indicators on the countries included.
*source : forbes.com
Domain Names and Intellectual Property
Attorney Answers Some Questions about Intellectual Property Rights
Entrepreneurs of all sorts need websites to promote their services and products. In today’s highly competitive environment, a strong web presence is a valuable asset for any business venture. However, individuals who want to create websites often have a lot of uncertainty about how to proceed. Attorney Robert Lech, of Lech Law LLC in Dublin, Ohio, provides answers to some frequently asked questions. Lech describes himself as “a computer lawyer.” In his experiences teaching cyberlaw at the University of Dayton, Lech has become aware of the kinds of questions most people have about domain names, websites, and intellectual property.
What is a Domain Name?
Lech says, “A domain name is the name by which you call your website. The website is your series of pages.” According to Lech, there is a misconception about the practice of registering domain names only to hold them until large companies are willing to pay for them. This practice is known as “cybersquatting,” and it is not legally permissible. A domain name must be registered in good faith. That means that it must be registered for a bona fide use, and not simply held in an effort to profit when someone else wants it.
How Are Domain Name Disputes Settled?
According to Lech, there are two ways that domain name disputes can be settled. The first is through trademark laws. The second is through a body called the Internet Corporation for Assigned Names and Numbers, or ICANN. This entity oversees the assignment of domain names. All registrars must follow the Uniform Domain Name Dispute Resolution Policy. Disputes can be settled without lawsuits, which may be costly, when they are brought before UDRP panelists. An international panel of judges can decide disputes under the UDRP. More information about this policy is available at their website.
What If Someone Steals Intellectual Property?
“All types of technological protection are imperfect,” says Lech. “Hackers have found ways around them.” He explains that hackers obtain access to websites, then change the information presented or extract information for their own use. Often, he says, people do not realize that what they are doing is stealing, because of the intangible nature of the internet. Taking information can be easy, and it doesn’t seem to be the same as stealing a physical object. However, anything that can be defined, and with rights that can be owned, can be stolen.
Although the originator of content has automatic copy rights to his material, original authorship may be difficult to prove in a legal dispute. Lech says, “An excellent and inexpensive way to prove you are the rightful owner of intellectual property is to file a copyright registration.” This can be done online, at the Electronic Copyright Office, for a small fee. Lech explains that legal decisions involving intellectual property disputes are very fact dependent, and they are decided based on specific evidence.
Precautions for Website Protection
People who create their own websites can do so more safely when they take precautions to protect their intellectual property. Obtaining legal copyrights to original work, utilizing technological protections to make it more difficult for hackers to succeed in gaining access, and staying up-to-date with rapidly developing intellectual property laws will help them develop and maintain an internet presence with confidence.
This article is intended as general information only and is not legal advice. If you are in doubt as to your legal rights or obligations you should contact a knowledgeable attorney licensed in your jurisdiction.
*source :suite101.com
Good Lawyer in Phnom Penh - Cambodia.
Miss. Nil Phallinneth,
She is the best lawyer in Phnom Penh, Cambodia that I have asked for a service.
I would like to say an indefinite thanks to her.
First, I would like to tell you about the reason why do I need to ask for her service. Before I have asked her for a service, I had run the litigations by myself at the courts for many times, but you know it is not easily to do because I do not have enough law knowledge and, furthermore, I do not have enough time waiting for the meeting with the court officer who are not easily to discuss with and sometimes they ask for something that I do not understand how to do exactly which have caused me sometimes to reveal the thing which I do have to keep secret to win the case.
The litigation that I have asked her to do for me are concerning with borrow money contracts and buy and sale land contracts. These kinds of contracts which were signed between me and my debtors who after did not pay me back and some others did not transfer their propriety right to me correctly and lawfully that’s why they want to cheat my money. Howerver, after she has represent the case for me, I won the cases and got my money and land back from those cheaters. This is my respectful of her ability and cleverness.
In addition, last month I have asked her to reconcile and write a contract for my friends who had a long-running dispute in their family. You know after a few days of her intervention, their family was reconciled and happy again. This point of view makes me very proud of her.
As I told you that she a good lawyer in Phnom Penh, Cambodia whom I and my friends have asked for law services. She, Nil Phallinneth, is a gentle woman, clever, sociable, dependable and skilled lawyer who I really believe in her.
I believe that you could also ask her for service or advice. She is also a great consultant whom I have ever met in my life even though she is a young lawyer.
For last, if you have any serious questions, you can contact her at her office:
Cambodia Law Firm
Address: No. 159, Street 113, Sangkat Boeung Keng Kang III, Khan Chamkarmon, Phnom Penh, Cambodia.
Tel: (855) 12 633-566
E-mail: neth_lucky@yahoo.com
From her client
** this is the letter which PhumYeung get from Miss Nil Phallinneth's client who sent to us and gave us the rightful authorisation to post this letter.
The Richest Man in Cambodia
The richest men in Cambodia or the most powerful economic in Cambodia:
List of Oknha,[a title given to persons who have made a very high charitable donation]in Cambodia.
This list of Oknha is not ranked by their fortune, because we don't how much they have exactly but we know that all of these people are the key factor in Cambodia.
1. Kith Meng (Royal Group)
2. Kith Thieng (Royal Group)
3. Mong Reththy (Mong Reththy Group)
4. Sok Kong (SOKIMEX Co., Ltd)
5. Men Sarun (Men Sarun Co., Ltd)
6. Suy Sophan (Yeay Phan) (Phanimex )
7. Lav Meng Khin (Phanimex )
8. Khaou Phallaboth (Khaou Chully MKK Co)
9. Khaou Chully (Khaou Chully MKK Co)
10. Sy Kong Triv (KT Pacific Group)
11. Ing Bun Hoaw
12. Ly Yoong Phat (L.Y.P Group)
13. Sorn Sokna (Sokimex Group)
14. Phou Puy ( President of Commerce Chamber in Battambang)
15. Sang Than
16. Nang Sothy (Royal Phosphate Limited)
17. So Nguon ( So Nguon Transportation & Service Import Export Co., Ltd)
18. Ly Say Khieng (SKL Group Holding)
19. Sam Ang (Vattanac Bank)
20. Doung Chhiv (Doung Chiv Import and Export)
21. Kok An (ANCO Brother Co., Ltd)
22. Te Tain Por, (LTP Lien Phong International Investment Co., Ltd.)
23. Keo Maly (Takoe Chamber of Commerce)
Oknha is a prestigious title that any wealthy Cambodian aspires to hold. This award of honour was created more than ten years ago and is aimed at those, men and women, who contribute to the reconstruction and the development of the Kingdom. These men and women are mostly influential business people who are connected with the high circles of the ruling power and know, for some of them, how to use this title in order to obtain preferential treatment.
On April 5th 1994, the two co-Prime Ministers at the time, Prince Ranariddh and Hun Sen, signed a sub-decree concerning the creation of decorations aimed at local or foreign benefactors working on the welfare of Cambodia. Depending on the level of contribution paid to the Government, three types of medals are granted for national construction: gold, silver and bronze. The lucky recipients of a gold medal - that is when their donation, whether it be material or financial, exceeds US$100,000 - also receive the title of oknha.
According to Thien Mao, director or the Decorations Department of the Council of Ministers , 220 oknhas, among whom less than ten women, have officially received this honour which inspires respect within the Cambodian society. However, these figures are simply official and represent a large underestimation of the real figures.
A title brought back to fashion
Miech Ponn, councillor for the Khmer Mores and Customs Commission at the Buddhist Institute , indicated that the title of oknha could be traced back in the history of Cambodia to the 15th century, under the reign of King Chao Ponhea Yat (1421-1462).
Going by his own research, Miech Ponn attested: “In the 15th and 16th centuries, oknhas were district and province governors as well as the king's personal councillors, in charge of royal, military, judicial and agricultural affairs”. He explained that this title was closer today to the usual “His Excellency” title which precedes the names of ministers and provincial governors.
Time went by and the meaning of oknha was derived from its original sense. Nowadays, those who are granted this honorific acknowledgement are no longer those situated at the forefront of the country's political life but rather, as Thien Mao said referring to the 1994 sub-decree, major sponsors of the state in its effort to rebuild the country.
The recipe to become an oknha
Thien Mao explained the procedures in details: “If a person makes a donation to fund the construction of a school or a road in a province, then the village, district and province authorities can build up an application which will be sent to the Ministry of Interior in order for this benefactor to be acknowledged. When the Ministry of Interior has completed the study of the case, the dossier is handed to the Decorations Department through the Council of Ministers”.
“Then, I check the documents, draft a note certifying that the person has indeed made a donation, and my department can finally express its opinion before passing the application onto the Council of Ministers”. After this, it is the latter's responsibility to study the case and hand it to the Secretary General of the government, which in his turn will give it to the head of government. The application ends its race in the hands of the King, who finally signs it.
No turning down in the applications
Sometimes the Decorations Department turns an application down if it is thought that a few elements in the dossier need to be clarified. The case then goes back to the Ministry of Interior and if the need is felt, it can be sent all the way back to the local authorities who initiated the request.
Evaluating the amount of a donation can sometimes lead to constant headaches. From one step of the long chain to another, accounting rules may differ. Then comes the question of the relevance of the said donations. Thien Mao pointed out: “Let us take the example of a person who gives out 32 mobile phones to the authorities. We have to wonder whether this gesture is serving public or individual interest. These types of donations are delicate because they do not serve the public interest in the same way as schools or hospitals do”. Thien Mao carefully added that his department never turned any candidate down but at most, invited the persons who set up the application to review their copy.
The representative then quickly put in a remark, saying that “some” hit the gold and the title of oknha by directly contacting the Prime Minister without going through the Decorations Department. No further comment was made.
Who are those oknhas?
They can be businessmen from all backgrounds, Cambodian nationals or foreigners, who pay a share of their fortune to the state, mostly through the direct funding of projects such as the building of basic infrastructures. As a matter of fact, almost all of the elected members to the Chamber of Commerce in Phnom Penh belong to the most privileged cast of oknhas.
Thien Mao stressed that once oknhas are nominated in accordance with the sub-decree, some of them join the state apparatus and become senior government officials or Members of the Parliament. It is factual that almost all oknhas are members of the ruling CPP party .
According to Cheam Yeap, CPP chairman of the finance committee of the National Assembly , the latter shelters three oknhas and the Senate , six. Thien Mao stressed that because of the extent of their generosity and competence, the government wants these oknhas to work for the development of the country by integrating them within state institutions, and he precised that “officiating as a Member of Parliament, for instance, is not incompatible with their title of oknha”.
A title leading to misuses
When asked about those oknhas who use and misuse their title to breach the rights of their fellow-citizens, Thien Mao exclaimed that the holders of this award “cannot act the way they wish to”.
However, the press regularly publishes reports of land disputes pitting oknhas against modest villagers, and is not particularly flattering to those oknhas. In 2007, a report of the British NGO Oxfam pointed out that 23,08% of the kingdom's territory belonged to oknhas, who are often known to be high-ranking land speculators.
Thien Mao did not deny that “some of them” have been summoned to court because they used their title to breach the law more easily. Yet, he stressed that despite all this, the cases remained scarce, and then announced that those cases did not pertain to his department but rather came under the responsibility of justice.
Ros Chantraboth, vice-president of the Royal Academy of Cambodia, deplored the bad faith of a few oknhas who, by placing themselves above the law, “tarnish the honour”of the cast. He agreed with the fact that only a handful of those do misconduct.
On his part, SRP MP Son Chhay denounced the corruption surrounding the granting procedure of the title of oknha. “Some only aim at getting this title so as to be able to elbow others in the illegal dealings they want to conduct”.
A title that does not change anything?
Si Kong Triv, who has held the denomination of oknha for more than ten years following a proposal of the title by the government itself, does not see “anything extraordinary” about holding it. “Many of us bear it nowadays...”, he said as an explanation.
Oknha Mong Rethty for his part, said that “becoming an oknha does not change anything to your business! It all depends on the circumstances. I, for example, became an oknha in 1996 when the country was still not enjoying peace”. He added that he had paid out more than US$4 million in the building of infrastructures. Still, if this title cannot be used to get away with anything, Mong Riththy admits that it is “like travelling in first class”.
The hierarchy of oknhas
Is the title of “Neak oknha” more prestigious than that of “Lok oknha”? According to some, the “neak”prefix indicates that the person has received the title a long time ago and has been more generous in their donation than “lok oknhas”or other ordinary “oknhas”. However, the representative of the Decorations Department pointed out that the sub-decree does not stipulate such distinctive treatment. “Some increased their rank by adding the prefix 'neak' in front of their title. But originally, the sub-decree only refers to 'oknhas'... Having said that, we must establish a hierarchy among oknhas, which will be determined depending on the amount of their donation to the state, and in collaboration with the Royal Palace”, he suggested.
A few powerful oknhas
Kith Meng: president of the Phnom Penh Chamber of Commerce (PPCC), chairman of the Royal Group of companies (including among others Mobitel and the bank ANZ Royal )
Mong Reththy: CPP senator, PPCC vice-president, chairman of the Mong Reththy Group
Lav Meng Khin: CPP senator, PPCC vice-president, and president of Pheapimex
Si Kong Triv: CPP senator, PPCC vice-president, and president of KT Pacific Group
Sok Kong: PPCC honorary president, general director of Sokimex and government councillor with the rank of state minister
Men Sarun: CPP senator, PPCC vice-president and president of Mensarun Import-Export
The medal scale
The sub-decree determines who is entitled to a medal for national construction, and which one:
A financial or material donation with a value of more than US$100,000 to the state enables the granting of a gold medal and the oknha title
A donation between US$10,000 and US$100,000 enables the granting of a gold medal only
A donation between US$5,000 and US$10,000 enables the granting of a silver medal
A donation between US$1,000 and US$5,000 enables the granting of a bronze medal
A donation between US$500 and US$1,000 enables the granting of a certificate from the Council of Ministers.
Make Money From Blogs
Make Money From Blogging – 15 Ways to Make Money on Internet from Blogs
Blogging is similar to having a website but has several additional Web 2.0 advantages. And there are plenty of ways to make good money on the internet with your website or blog.
There are several hosted blogging systems that let you host your blog & show ads to make money. Google Blogger, Wordpress & TypePad are some of the very reputable ones. Mediacubs also lets new bloggers make money free & get some of the best business-cms-themes to use.
While at Pro Media Blog we shall all the best ways to make money on the internet, the questions repeatedly new bloggers ask is where to start. It could seem overwhelming at first, but if you could plan in advance, it becomes easy.
In this post, I shall write about the 15 best ways in which you can make significant money on the internet by blogging. However, content is the king – you cannot write poor quality of posts & expect to make good money. It is only when good content is matched with good money making tips will you be able to make huge money with your blogs & websites!
Go for the Best PPC & PPM Advertising for Blogs – good contextual blog ad could be a great money maker from your blogs. There are several great advertisers who provide high ppc rates.
- Ad Brite – they show fairly contextual ads & encourage new & experienced bloggers. Their reporting system is very simple & the payout is very timely. The Ad Brite system also lets you combine multiple ads so that you can get the best price from ads competing for your ad spaces. That apart, this is also one of those few advertisers for blogs that helps you show ads on videos & pictures, allowing you to monetize images & movies. This feature makes it s great advertiser for photo blogs & video blogs.
Make money from your Website or Blog with BidVertiser – the Sign up process is free & very simple. This advertiser also lets you create custom ad formats for your specific use. You can create ad formats that are not IAB standards. This is a great advantage if you want to show ads in various places of your blogs or mix them with your content. This advertiser for blogs also lets you show ads in RSS feeds with their RSS feed ad plugin.
Google Adsense – this is the advertising service from Google. This is still one of the best advertising company with highly contextual ads & fairly high PPC rates. Google shows standard IAB formats & helps you to monetize almost all digital content. The popular ones are the text & image ads, link ads, ads for parked domains & RSS feed ads.
Chitika Premium PPC Ads – Chitika has turned out to be one of the best blog advertisers of the time. They have an option of both contextual or non-contextual ads depending on whether the visitor comes from a true search. They also lets you to show your own custom backfill ads in case the advertiser cannot show any ad. Chitika also shows Whitespace ads on the empty spaces on the monitor outside your web page, thus maximizing the possibility of earning from these ads.
Search Ads & PPC Ads from Find It Quick Directory – this is an online directory & search engine service that also shows high paying CPM ads as well as PPC ads. They have all the IAB formats for their ads. This service pays flat US $1.00 CPM for all their image ads. Joining is free & to add security, they review your application in person & confirms your addition to their advertising network.
Go for the Best Shopping for Blogs – shopping ads show PPC & PPM ads for good shopping deals. This does not require you to sell any of the products & bloggers make money when visitors click on the shopping deal ads.
Chitika Premium Mini Malls – as mentioned earlier, they show one of the highest paying shopping ads. The formats fit most of the popular blog formats & are completely customizable to match with the style of your content.
Widget Buck Shopping Ads – as the name indicates, these shopping ads show up in well designed widgets. You can choose your own category of products to show & the widget will display the products one after another. All IAB formats are available to show ads.
LinkShare Shopping Ads – this is one of the most popular Shopping Ad network for blogs. Serious affiliates make a lot of money from this ad network. It is free to join and easy to set up. They have the USA LinkShare Program as well as the LinkShare UK Program for free.
Live Merchant Listings from Shopping Ads – this is a great shopping ads network in the ebay style. You get a wide variety of products & collectibles that make great ads for niche websites.
Go for the Best CPA & Affiliate Ads for Blogs – CPA ads have a very high payout but pays only on when the user completes certain actions. There are a couple of CPA ads, some pay out on leads while some pay out on actual sales or true conversions.
NeverBlue – this is a great affiliate & CPA adverting network. They are selective & talk to the applicants before they approve of them. The advertisers who sign up with them are top class, hence the ads that you get are easy to convert. The reporting could be improved but it is sufficient to tell you which all affiliate ads are converting more. The best part of this ad network is the Ad-Rotator, where publisher can combine multiple ads of the same format & show in the same ad space.
Go for the Best Review & Freelancing Jobs for Blogs – products & services reviews are becoming very popular. Studies have shown that more & more people are shopping on the internet & Internet shoppers read product & service reviews on the internet before they buy. Bloggers get to make money blogging of product reviews.
Apart from that, freelance bloggers are often hired to blog about products on their own blogs. They are good marketing tactics for product companies & they can create instant buzz about their products by paying bloggers to write about them & review their products on your blogs.
Find thousands of freelance blogging & new writing and editing jobs – this is a great freelancing opportunity for all bloggers. You create your account & automatically get listed on the freelancing market place. You set your own prices for writing blog reviews & get paid every time you complete & publish reviews on your blogs.
Write Blog Reviews & Get Paid with Paying Posts – it is free to sign up & easy to join. Within minutes you can set up your online profile for advertisers to start providing you with blog review jobs. These sponsored blog reviews usually ask for 300 – 500 words’ reviews & pay you almost immediately upon completion.
Get Blog Sponsors for Blog Posts -This is also a free system to sign up & the approval process takes a couple of hours. You can set your own prices, so depending on your need you can set a high price or a low price to get more work. It is important that you write blog reviews correctly. All sponsored blog reviews get verified by the sponsors & you will get more work if you review correctly.
Blogging Tips – 10 Most Popular Blog Topics to Make Money Online
Coming back to the subject of the 10 Best & Popular Topics to Blog to make a lot of money online, here is a list that I have compiled over time. I have observed earnings from ads, sponsorships & interest of shoppers keep changing but generally tend to follow this pattern below:
1. Blogs on Technology & Gadgets – technology subjects are extremely popular & there is a lot of interest among internet surfers to read all about new technology & new gadgets
2. Blogs on Celebrity News – celebrities are a great subject to blog. Especially if you are writing about celebrities & their daily lives, you could win a lot of fans on the internet
3. Blogs on Fashion & Jewelry – fashion blogs always find high paying sponsors especially from designers & fashion salons. Fashion Blogs are also great ways to sell fashion products to your readers
4. Blogs on Jobs and Employment Opportunities – jobs are always on high demand. People with jobs also look for changes. Blogs on job openings and employment opportunities are very popular in all segments of internet users
5. Blogs on Product & Service Reviews – while more & more people are shopping on the internet, these buyers also look for good detailed reviews of what they are about to buy. Be it books or computers, good review sites are extremely popular & could make you a lot of money in a short time
6. Blogs on Films Movies Music & Entertainment – this topic has an international appeal & you can build your reader base very quickly. Blogs on Movies Music & Entertainment are also suitable for shopping ads & always see high ad clicks & hence high earnings from advertisements
7. Blogs on Photography, Camera & Art – photo blogs are extremely popular within internet users. And you can win more by allowing people to download your pictures & art. One of the highest selling gadgets in the world in cameras – and photo blogs are great ways to sell photo accessories & make money from photo ads
8. Blogs on Social Life & Relationships – blogs that write on love, life & relationships are extremely high money earner on the internet. These blogs earn a lot of money from Personal Advertisements Networks & large companies like Yahoo, Batchmates, Classmates etc
9. Blogs on Small Business & Personal Business – these blogs earn a lot of money from local businesses. Blogs on real estate business, car dealerships & similar local businesses are sponsors of blogs on small business & local business
10. Blogs on Pets – people love pets and every other house either has pets or have pet lovers. Blogs on pets, writing about pets’ well being, pet health, pet food & pet games always make a lot of money from advertisers & from sales of pet products
GOOGLE ADSENSE - THE MOST POPULAR TOPICS IN INTERNET
Internet marketing
Its popularity isn't surprising given the extensive coverage of AdSense in mainstream newspapers and magazines as well as the program's importance in driving Google's every-growing advertising revenues. Website and blog owners can't help but perceive Google AdSense to be an easy way to make money online.
While it's true that adding AdSense a web page is trivial — all you do is paste some JavaScript code that Google generates for you — learning how to make money with AdSense — especially how to really make money — is decidedly non-trivial. Like anything, it takes time and effort. For more results login on to www.youradsenseprofits.com. There are no overnight successes with AdSense.
The key is to know what to work on. Four factors come into play:
1. Traffic. By far the most important factor is how much traffic you can drive to your pages. After all, you only make money when visitors click (or in some cases view) the ads shown on your pages. If no one's visiting your site, you won't make any money. If you want to make more money with AdSense, you need more traffic. (That traffic should be targeted, too, otherwise smart pricing will kick in and reduce your earnings.)
2. Niche. The niche you're targeting also has a huge effect on your AdSense earnings. You need to target niches where advertisers are actively seeking customers: if there are no advertisers, you won't make any money. The simplest test you can do is to search Google for related keywords and see how many ads appear in the "Sponsored Links" section on the right-hand side of the results page. If there are few or no ads, that's a sign that the market's not a big one and probably isn't a great choice for monetization via AdSense. (But you may be able to monetize it in other ways.)
3. Content. AdSense is all about content. It's not about search results. It's not about random collections of scraped data. There's a reason why AdSense users are called publishers: it's because they publish content. You need great content on your pages, written for humans and not search engines. Content is what's going to keep visitors on your site, looking for the information they need. The longer they stay, the more chance they'll click an ad.
4. Optimization. Many AdSense publishers spend too much time trying to optimize their pages when they should be spending their time on getting more traffic and writing more content. You can also go to www.thegoogleincome.com. Luckily, many Adsense optimization techniques do double duty as search engine optimization (SEO) techniques. Concentrate on the basics, like:
* Blending ads by removing borders and matching colors. * Positioning the ads in the "hot spots" of a page. * Choosing the right ad formats. * Tracking performance with channels. These and a few other techniques can make a dramatic difference in your earnings — but only if you have enough traffic.
Note that even a poorly-optimized AdSense site can make its publisher a lot of money if draws a lot of traffic with quality content in a competitive niche. Don't place too much emphasis on AdSense optimization.
There are no secrets to earning money with AdSense. You just need to learn the right things. Take the time and effort to learn how to:
* Drive traffic to your pages. * Find and exploit profitable niches. * Create valuable content.
* Optimize pages for AdSense and SEO.
Master these skills and you'll know exactly how to make money with Adsense!