EuroDream Kitchens & Design Gallery

Full Service Interior Design Firm. From Design to Installation. Specializing in Contemporary Design for kitchen & bath, with Space Optimization, Ergonomics, Style & Function, Energy efficient (Energy Star) Appliances, Window Treatments & Fabrics, Green Cabinetry, Flooring Etc.

Thursday, July 30, 2009

Global Money Market Update: The RBNZ Surprise

Global Money Market Update: The RBNZ Surprise


The big news in the overnight session was the Reserve Bank of New Zealand’s extremely dovish policy statement. Rather than acknowledging signs of a recovery and signaling potential rate hikes like its Australian counterpart, the RBNZ sternly admonished that the kiwi yield curve was too high and warned that rate cuts remained a possibility. The bank also indicated that NZD strength was a drag on exports and stressed that New Zealand's soft commodity-based economy (those that are grown) is not benefiting from the rise in hard commodity prices (those that are mined/extracted). Otherwise, the major 3-month Libors all continued to decline.

As an aside, here is a graph that depicts the cumulative amount of Treasury, Agency, and MBS debt the Fed has purchased since December 2008. Notice a trend?



Here is a summary of the day-to-day changes in the global money markets:

US O/N LIBOR: .23000% vs. .22938% Wednesday
US 1M LIBOR: .28063% vs. .28500% Wednesday
US 3M LIBOR: .48313% vs. .48750% Wednesday
EUR 3M LIBOR: .87063% vs. .87875% Wednesday
GBP 3M LIBOR: .89000% vs. .89750% Wednesday
3M USD/OIS Spread: 28.41 vs. 29.25 Wednesday
3M EU/OIS Spread: 45.20 vs. 45.45 Wednesday
3M GBP/OIS Spread: 47.15 vs. 47.25 Wednesday
Effective Fed Funds: 16bps vs. 16bps Wednesday
TED: 30.76 vs. 30.59 Wednesday
DXY: 79.60 vs. 78.21 Wednesday
VIX: 25.61 (Wed.) vs. 25.07 (Tue.)
CVIX: 13.15 (Wed.) vs. 13.07 (Tue.)


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Amegy Bank N.A.

Kenneth Hogan
Vice President
Corporate Foreign Exchange

Phone: +1 713 235 8896
Fax: +1 713 235 8817
Bloomberg: AMEG
e-mail: kenneth.hogan@amegybank.com

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Monday, July 27, 2009

Strategies employed by global central banks are working

Today the interbank cost of borrowing US dollars for 3-months fell below 50 basis points for the first time in recorded BBA history. Accordingly, many economists have concluded that the strategies employed by global central banks over the last two years are working and that the systemic risks that existed post-Lehman are now gone. Although a bit thawed, it is clear that the credit markets have not yet returned to normal. Given that USD Libor is still roughly 30 bps above the Fed Funds rate, it appears that parity may be achieved well before year-end. Does this mean that Libor will continue to fall until Fed Funds parity is met or is USD Libor in a terminal decline?

Here is where global banks actually borrowed 3-month US dollars versus the BBA’s .49625%:

Australian Bank: .28%; UK Bank: .32%; UK Bank: .44%; Japanese Bank: .55%; Swedish Bank: .65%; Belgian Bank .80%

Here is a summary of the day-to-day changes in the global money markets:

US O/N LIBOR: .22688% vs. .22313% Friday
US 1M LIBOR: .28750% vs. .28500% Friday
US 3M LIBOR: .49625% vs. .50188% Friday
EUR 3M LIBOR: .89188% vs. .89875% Friday
GBP 3M LIBOR: .91438% vs. .92463% Friday
3M USD/OIS Spread: 30.33 vs. 30.09 Friday
3M EU/OIS Spread: 46.90 vs. 47.45 Friday
3M GBP/OIS Spread: 49.49 vs. 49.76 Friday
Effective Fed Funds: 16 vs. 15bps Friday
TED: 31.57 vs. 31.93 Friday
DXY: 78.42 vs. 78.65 Friday
VIX: 23.09 (Fri.) vs. 23.43 (Thurs.)
CVIX: 13.10 (Fri.) vs. 13.41 (Thurs.)


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Amegy Bank N.A.

Kenneth Hogan
Vice President
Corporate Foreign Exchange

Phone: +1 713 235 8896
Fax: +1 713 235 8817
Bloomberg: AMEG
e-mail: kenneth.hogan@amegybank.com

4400 Post Oak Parkway | Houston TX 77027
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Amegy Bank N.A. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. federal tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or tax-related matter[s].

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Thursday, July 16, 2009

EuroDream Presents Thermador with Big Savings






Presents 1,2 Free Special Savings Program



 

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Contact EuroDream Kitchens/Bath/Appliances Today!

8670 E Shea Blvd. #101 Scottsdale AZ. 85260

480-998-0244

www.eurodreamkitchens.com
www.eurodreamkitchens.com.blog


 


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Tuesday, July 14, 2009

Asian Fusion



Eurodream Kitchens - Counter Top Choices & Varieties




http://www.EuroDreamKitchens.com

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Could this save our economy??

I met with the organizer of this project last week. I was very impressed & I believe that it can have a very positive impact on our overall economy. Please check it out for yourself & forward this to your friends & neighbors. Let's get the economy rolling again!!

SOLUTION
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Please visit www.4-40forfreedom.com For more details!!

THX & God Bless.

Saturday, July 11, 2009

PSA, Major Viking appliance Recall, July 2009

Copied from ApplianceAdvisor.com for Your & Yours safety!

Submitted by advisor on Tue, 06/16/2009 - 6:13pm.

Viking Range to recall 45,000 refrigerators manufactured between 1999 and 2006. Why? Seems the doors have a tendency of falling off breaking people’s toes and fingers. Now that's a problem.How often could that happen? 57 times. Say again.....didn't hear you right.FIFTY SEVEN TIMES? VIKING FRIDGE DOORS HAVE FALLEN OFF FIFTY SEVEN TIMES!!!! So now they recall?
We really have so many more questions…..where to begin?
1) What’s so special about 57? Why not just keep on rolling them off the line?
2) After the 23rd door fell off, who was it that said, “Not impressed with only 23, this isn’t a systematic problem. Not an epidemic.”?
3) How heavy is a fridge door loaded up with gallons of mustard, ketchup, pickled herring, 2 liter bottles of Moxie and custom cabinet inserts?
4) Do any of Viking’s customers have kids? Considering the cavalier way they drop 60 lb doors willy nilly in kitchens across America, we hope not.
5) At what point does a company come to the conclusion that it should just stick to its cooking?
Perhaps other brands have the same 0.1% failure rate but we somehow doubt it.

Official recall notice below!!

NEWS from CPSC
U.S. Consumer Product Safety Commission
Office of Information and Public Affairs
Washington, DC 20207
FOR IMMEDIATE RELEASEJune 16, 2009Release # 09-242
Firm’s Recall Hotline: (888) 345-2650CPSC Recall Hotline: (800) 638-2772CPSC Media Contact: (301) 504-7908
Viking Range Corporation Recalls Built-In Refrigerators Due to Injury Hazard; Doors Can DetachWASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.
Name of Product: Viking Built-In Side-by-Side Refrigerator/Freezers and Refrigerators with Bottom Freezers
Units: About 45,326
Manufacturer: Viking Range Corporation, of Greenwood, Miss.
Hazard: The refrigerator’s doors can detach, posing an injury hazard to consumers.
Incidents/Injuries: Viking has received about 57 reports of doors detaching, including four reports of injuries involving bruises, broken toes/fingers, and strains. Also, several incidents of minor damage to floors and counters have been reported.
Description: This recall involves Viking built-in 48-inch wide side-by-side refrigerator/freezers and the built-in 36-inch wide refrigerators with bottom freezers with model and serial numbers with date codes listed below. The refrigerators come in stainless steel and various colors and wood finishes and are built into the kitchen cabinetry. "Viking" is written on the front of the refrigerator. The model and serial numbers are located either behind the produce drawer or on the ceiling of the interior of the refrigerators. The 42-inch wide or freestanding refrigerators are not included in this recall.
Model Numbers Starting With
Date Codes
VCSB481, VCSB482, DDSB482, DFSB482DTSB482, DDBB362, VCBB360, VCBB362DFBB362, DTBB362, DTBB363
All units
VCSB483, DDSB483, DFSB483, DTSB483
Date codes before 030104
VCSB483D, DDSB483D, DFSB483D
Date codes before 030105
VCBB363
Date codes before 111605
DDBB363
Date codes before 112305
DFBB363
Date codes before 041006
The first six numbers in the serial number are the manufacture date of the unit in [mm][dd][yy] format, e.g., serial number 051903G0000000375 was manufactured on May 19, 2003 and serial number F01250210170 was manufactured on January 25, 2002.
Sold by: Appliance and specialty retailers nationwide from July 1999 through April 2006 for between $4,725 and $6,400.
Manufactured in: United States
Remedy: Consumers with recalled refrigerators should contact Viking immediately to schedule a free in-home repair. Consumers should immediately stop using the recalled refrigerator if the door isn’t sealing properly, is sagging, or fails to open and close properly. If the door is functioning properly, consumers may continue to use the refrigerator until it has been repaired.
Consumer Contact: For more information, contact Viking toll-free at (888) 345-2650 from 8 a.m. to 5 p.m. ET Monday through Friday or visit Viking's Web site at http://www.vikingrange.com/consumer/lifestyle/design_inspiration.jsp?id=cat12640023
CPSC is still interested in receiving incident or injury reports that are either directly related to this product recall or involve a different hazard with the same product. Please tell us about it by visiting https://www.cpsc.gov/cgibin/incident.aspx
---
The U.S. Consumer Product Safety Commission is charged with protecting the public from unreasonable risks of serious injury or death from thousands of types of consumer products under the agency's jurisdiction. The CPSC is committed to protecting consumers and families from products that pose a fire, electrical, chemical, or mechanical hazard. The CPSC's work to ensure the safety of consumer products - such as toys, cribs, power tools, cigarette lighters, and household chemicals - contributed significantly to the decline in the rate of deaths and injuries associated with consumer products over the past 30 years.
To report a dangerous product or a product-related injury, call CPSC's Hotline at (800) 638-2772 or CPSC's teletypewriter at (800) 638-8270. To join a CPSC e-mail subscription list, please go to https://www.cpsc.gov/cpsclist.aspx. Consumers can obtain recall and general safety information by logging on to CPSC's Web site at http://www.cpsc.gov/.

Submitted by Bermuda Bob on Wed, 06/24/2009 - 12:21am.
If I had a buck for every customer who told me they wanted to upgrade their kitchen to Pro-Style and asked about Viking, I'd be rich !!!
Truth be told, Viking has a long history of overreaching and buying into having a total Viking Kitchen, to which I have always started out by saying the "... no one can be everything to everybody ... it is always best to do what you do what you do best ..."
There are also numerous stories on how some of the TV Chefs, the most prominent being Emeril, signed ridiculously long term contracts with Viking to supply their TV Kitchen Appliances and how they would do anything to rid themselves of that colossal mistake ...
Even "Iron Chef America" has had serious failures on-camera with Viking products ...
Whenever my clients steadfastly refuse to take my good-advice and choose a variety of other manufacturer's offering, I ask them to sign something that sez that they made their decision ignoring my advice ... I do this because they will never recall that they were advised against their purchase and I prefer not to be victimized by selective recollection whereby they conveniently forget my tutelage ... I refuse to be a door-mat when I always strive to do the absolute best for my clients !!!

Submitted by Appliance Stallion on Wed, 06/24/2009 - 1:23pm.
As I have said. Manufacturers of the high end have not used Viking as the model for achievement for product performance. However that rustic look and the Marketing arm sure are the winners for Viking. Hats off to the Marketing strategies. If they get the rest right ,watch out.Bob I think they can be a full service supplier of the entire kitchen. They just need to segment the engineering and manufacturing skills to a different level on the varied products. Probably separate divisions. Ego probably prohibits that.

Submitted by rllingstne on Sat, 06/20/2009 - 12:14am.
There is no question that Viking should have pulled the chute a little sooner. I have to wonder if the proud owners of the origianl Amana B136CAR3 have also been notified. this situation reminds me of a certain refrigerator manufacturer that refused to acknowledge that flames in your kitchen should be reserved for your range and not the back of the fridge. A few years ago, word on the street was that the special at the next trade show was going to be a free fire extinguisher with every fridge..............................

Submitted by twittee on Thu, 06/18/2009 - 11:33pm.
Its rather simple why they waited until number 57. They needed a failure rate of 1/8 of 1 percent. 56 was .124% and 57 was .126%. That last 2/1000th caused an Actuary to throw himself off the top floor of the Corporate offices in Greenwood.


Submitted by advisor on Wed, 06/17/2009 - 10:16pm.
6 years ago, you saw and knew about the problem, and one assumes Viking did too, yet 2006 production still had the problem. 6 years ago the Viking fix was case by case by case never reaching out to all users until today, 6 years later. The problem was fixed on a "need" basis, you say. A "need" basis is a method to quietly fix the products without damaging the brand, or making the papers. It is more focused on protecting the brand, and saving money than protecting consumers and saving lives.......though one imagines you would really have to work at it to get killed.Sure, this might be old news, but actually, that's the worst part of this story.

Submitted by Appliance Stallion on Thu, 06/18/2009 - 12:28pm.
You understand the business quite well. Viking , for all of the things they do should have handled this in a more appropriate manner. A more responsible concern for all of it's customers.This is how business gets the tag irresponsible and greedy...unfortunately.

Submitted by kona on Wed, 06/17/2009 - 1:32pm.
Agree with old iron man. This is old news. What is news, and what AA has appeared to miss is that Viking sold 45,000 of just these couple of models through 2006. That's the real eye opener to me. Why would Viking want to get out of that business (especially if they solved the problem 3 years ago)?

Submitted by old iron man on Wed, 06/17/2009 - 5:43pm.
Viking has had a fix for all the units for many years. Squeaky wheel gets the grease. All units on dealers' display floors were updated. Units in the field were done on a "need" basis. Customer complaint resulted in updated hinges installed in the home at no charge. Old Iron Man

Submitted by old iron man on Wed, 06/17/2009 - 11:37am.
Is anyone really surprised ? If you have been in the premium appliance biz for any amount of time, you know about Viking's refer door issues...not new. Sold them 6 years ago...had the problem then...no new news here. The Old Iron Man

Please forward this to your friends. Have a great day!

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Tuesday, July 7, 2009

Please join us for a fabulous network event!

Announcement from LI Arizona; Phoenix, Tucson & Beyond Please join us for a fabulous network event! This Thursday is our LinkedIn Live Phoenix networking event!

http://events.linkedin.com/LinkedIn-Live-Phoenix/pub/83111 This Thursday is our LinkedIn Live Phoenix networking event! Our goal is to connect as many people as possible and show them the power of LinkedIn. Networking, LinkedIn tips, and much more! This is a great way for you to network and build relationships with other LinkedIn users.

We are very excited to announce a very special guest speaker to offer all attendees a free training on Internet marketing. Koz Khosravani is an Internet marketing expert, a computer information systems consultant, and an Information technology & educational technology speaker. Koz has taught at several top universities, including Harvard University, and UCLA. He has been a national speaker who has shared the stage with President Clinton, Donald Trump, Tony Robbins, George Foreman, Lisa Nichols, David Bach, Chris Howard and many other top speakers.

Koz believes in the power of marketing through social media & the internet. He has agreed to give a 45 minute training on how to utilize the internet in your marketing plan. We are extremely excited to have Koz as our guest speaker. This will be an event you don't want to miss!

LinkedIn Live gives you the opportunity to network, promote yourself or your business, and learn how to get more results from social media & the internet.

5:30pm-8:30pm
Crowne Plaza Hotel
4300 East Washington
Phoenix, AZ 85034

There will be a cash bar and appetizers available.

$10 if you pre-register, $15 at the door. Register at http://phoenixsocialmediaevents.com/ http://events.linkedin.com/LinkedIn-Live-Phoenix/pub/83111

I hope you can make it. Let me know if you have any questions.

Sponsored By The CKME Group, The Ackerman Group, ConferenceDirect, Send Out Cards, The Grant Mother, Horizon Energy Systems, Yore Town, and EuroDream Kitchens/Bath/Appliances & Interior Design Gallery

Thursday, July 2, 2009

Happy 4th of July!! & Your invited! Cooking Class @ EuroDream July 9th

http://www.eurodreamkitchen.com/cooking-demo/cooking-class-with-cheff-stuart-july-9/

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