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allaboutstocks.wordpress.comArchive for September, 2006
FDA Warns Consumers Not to Eat Fresh Bagged Spinach
Hey Guys,
The FDA warns consumers not to eat fresh bagged spinach at this time. There has been an E Coli O157:H7 outbreak. Washing the spinach will not get rid of the bacteria. Based on the current information. Individuals who believe they may have experienced symptoms of illness after consuming bagged spinach are urged to contact their health care provider.
This has caused one death and several illnesses in 9 states, so far. 74% of bagged spinach comes from California. They currently do not know. Where the E Coli is coming from and who packaged the products.
Kroger’s has told all of their stores. To pull all bagged spinach off the shelves. As, many other stores. As of today, the grocery sector has been hit a little today. With reaction to the bad news.
The FDA states “E. coli O157:H7 causes diarrhea, often with bloody stools. Although most healthy adults can recover completely within a week, some people can develop a form of kidney failure called Hemolytic Uremic Syndrome (HUS). HUS is most likely to occur in young children and the elderly. The condition can lead to serious kidney damage and even death. To date, 50 cases of illness have been reported to the Centers for Disease Control and Prevention, including 8 cases of HUS and one death.“
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Hedge Fund Ratings Will They Help?
Hey Guys,
As some of you know. U.S. hedge funds are very secretive about what they do. Also, almost ‘anyone’ can create one. Which has created a large amount of backlash. From the investment community, as a whole.
With hedge funds growing a huge amount of interest. Financial services are taking a piece of the pie. Moody’s Investor Service has created new ratings for hedge funds. The ratings are not based on investment strategies or portfolio risks. Since, hedge funds are not going to give out this information. The new ratings are based on ‘operational quality’.
Here is what Kathryn Kerle, vice president at Moody’s told Bloomberg about the new ratings. “These ratings are on the manager as opposed to the fund itself. Moody’s won’t rate the creditworthiness of hedge funds or the effectiveness of an investment strategy, she added.”
Moody’s will offer hedge funds a private rating. Before, they make the ratings public. This should intice fund managers to let Moody’s rate them. Of course, hedge funds can deny the ratings. Which wouldn’t let Moody’s publish the ratings and/or review their fund.
The ratings add little value to the largest hedge funds. Why would a huge hedge fund manager let Moody’s rate them? I can’t even think of a reason. I expect to see, growing and new hedge funds participate in the ratings. To have something to tell investors and grow. So, is this really going to help? They’re too many twists and directions to figure. It’s a step into the right direction, though.
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