Fisher Capital Management Seoul Korea: Market Overview 1st Quarter 2010

Fisher Capital Management Seoul Korea: Market Overview 1st Quarter 2010 - India is in a sweet spot. The central government budget which set the tone for reducing fiscal deficit and an unexpected increase in the policy rate to rein in inflation has convinced the markets and economists that India is on its way to having a robust economic growth. Industrial output also continued to grow at a fast pace in January as companies produced more cars and cement. In the fiscal year 2011 that ends in March 2011, GDP growth of 8.5% is achievable. Long-term predictions for the southwest monsoons are expected to be normal, giving a boost to agricultural production and domestic demand.

Fisher Capital Management Seoul Korea- Inflation in India has been surging, driven by a low base and high food prices as the weakest monsoon rains in 37 years last year hurt farm output. Inflation running at 8.5% may have peaked and it is expected to ease by April as the winter-sown crop comes to market. The year-on-year inflation rate for food articles was 16.22% in the week ending March 13, far above the comfortable zone for the central bank and the government. In order to manage the inflationary expectations, the central bank increased overnight lending and borrowing rates by 0.25 percentages point each, making it one of the first major central banks to raise rates. The central bank further announced that it would continue to roll back its loose monetary policy to manage prices, as the country can’t have sustained strong growth with high inflation. We expect a 0.25-percentage-point rate hike in mid-April and another increase of one percentage point through March 2011.

Fisher Capital Management Seoul Korea: Market Overview 1st Quarter 2010 - The rebound in industrial activity also saw a surge in India’s exports for the third month running in January. Exports in January rose 11.5% from a year earlier to $14.34 billion, after having increased 9.3% to $14.61 billion in December. Imports increased 35.5% in January to $24.70 billion while oil imports rose by 56% to $7.05 billion. Non-oil imports, a barometer of investment activity, grew 28.8% to $17.65 billion.

On the back of robust economic numbers and policy pronouncements, the rating agency Standard & Poor’s raised its rating outlook to stable, expecting the fiscal situation to recover and growth to remain strong in the coming years. The government’s commitment to follow the recommendations of the 13th Finance

Commission, as well as its move to reduce fertilizer subsidies and raise domestic fuel prices were taken as positive indicators. The country’s external position continues to be in a comfortable zone.

Fisher Capital Management Seoul Korea: Market Overview 1st Quarter 2010 - It is unlikely that India will benefit from the Google-China spat as the Indian government will not provide the kind of benefits China extends to the manufacturing sector in China. But some relocation is likely to emerge. For example, American companies GoDaddy and Dell have threatened to pull out of China and relocate themselves in India.

Fisher Capital News Update on Highway Equipment Company Achieves NTEA’s MVP Status

CEDAR RAPIDS, IA – October 6, 2010 – Highway Equipment Company (HECO), the manufacturer of Hi-Way® road maintenance equipment and New Leader® crop nutrient applicators is pleased to announce the achievement of the National Truck Equipment Association’s (NTEA) Member Verification Program (MVP) status. MVP participants distinguish themselves by embracing the knowledge that is necessary to provide a high level of quality while meeting certain regulatory requirements.

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam. FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

The NTEA MVP recognizes distributors, manufacturers and up-fitters for implementing quality business practices and for complying with specific government safety regulations. Criteria to meet the MVP standards can involve liability insurance, warranty programs, vehicle and employee certification, safety policies and quality assurance. By qualifying for the MVP, members can gain an even higher industry designation by verifying their commitment to excellence. MVP companies attest that their firm operates at a defined level of professionalism through the use of quality-minded business practices. “HECO’s status as an NTEA MVP demonstrates our on-going commitment to safety and professional excellence in the work place,” said Ingrid Livingston, executive director – marketing. “It is our dedication to these factors that allow us to manufacture high-quality products that increase our end-user’s return-on investment."

Since NTEA launched the MVP in 2005, a total of 416 distributor and manufacturer members have qualified for MVP status.

Highway Equipment Company is the leading manufacturer of New Leader crop nutrient applicators and Hi-Way deicing spreaders and road maintenance equipment. The company is committed to building innovative equipment and delivering superior customer service to ensure consistent and reliable experiences for our customers and business partners. 

Highway Equipment Company is the leading manufacturer of Hi-Way deicing spreaders and road maintenance equipment, New Leader agricultural spreaders and Flow Boy processed road building material transportation equipment. Our customer base ranges from municipalities and contractors to agricultural custom applicators and growers. We also produce products for many original equipment manufacturers.

For nearly 70 years, our goal has been to build the highest quality equipment to the most exacting specifications and expectations. Every component of every product we offer is carefully designed to last. By using heavier gauge steel, high end components, a superior paint system and consistent manufacturing processes, our quality shines through in everything we produce. And, most of the products are designed and modified by our in-house engineering department.

Our philosophy of "building the best" also extends to our large network of dealers. Each authorized dealer has been fully trained to provide a total sales and service experience for the customer. An on-site training center is dedicated specifically to sales and service training.

For more information, please contact your local dealer or company representative.

Established in 1939, Highway Equipment Company is a leading manufacturer of New Leader® crop nutrient applicators for the agricultural industry, and Hi-Way® deicing spreaders and road maintenance equipment for state, federal, and municipal entities, as well as for private contractors. New Leader and Hi-Way products are distributed through more than 200 dealers throughout North America and around the world. Highway Equipment Company is a privately owned business located in Cedar Rapids, Iowa. For more information please visit our web site at www.highwayequipment.com.

Triad Boiler Room Systems Launched New Commercial Boilers

Fisher Capital on Boiler Room Equipment, Inc: Triad Boiler Systems manufactures uniquely rugged small-footprint hot water boilers, steam boilers, and radiant heating systems. All our boilers use 12 gauge firetubes in compact vessels that fit through very small doorways! Inputs range up to 2,000,000 BTU's. Create a highly efficient system with millions of BTU's by sequencing a string of these modular vessels.
TRIAD's commercial boilers and industrial grade Hot Water Heating, Domestic Hot Water, and Steam boilers are used in a wide variety of applications. Our commercial boilers are used at schools, universities, apartments, hospitals, office buildings, retirement communities, and churches. Industrial uses have included bakeries, smelting operations, food processing, quenching systems, and various heating applications for manufacturing. Triads’ modular boilers and radiant heating systems can be natural gas fired, oil fired, or dual fuel fired. For simplicity of operation and maintenance, all controls on our boilers are well known, off-the-shelf products. There area no proprietary parts on these boilers! This simplicity of operation is part of our philosophy, and an important reason why our customers return to us again and again.

TRIAD has been manufacturing high-quality boilers since 1926, and developed the modular boiler concept with primary/secondary piping, receiving a patent for it in 1967. We put this experience, knowledge, and expertise into every boiler.

We believe in quality - it is the overriding characteristic driving our company. This is why we manufacture extremely rugged, well-designed hot water and steam boilers that can provide decades of dependable service. We welcome your inquiries.

Benefits of Modularity
TRIAD's elegantly simple design maintains consistent water volume where heat is required.

Boilers are activated sequentially, drawing water from the main loop into the next hot water boiler until the heating need is meet., firing boilers remaining isolated, so no heated water circulates through cold boilers. During most of the year the unfired boilers provide additional backup. Outdoor temperatures and loop water temperatures are constantly monitored.

Fisher Capital on Boiler Room Equipment, Inc: The efficiency of this design is most apparent during warmer months, when a conventional hydronic heating or steam boiler could still be operating at full capacity.

Primary-Secondary Piping
TRIAD integrates modularity with a single pipe primary-secondary system. TRIAD was the first company to employ a Primary-Secondary concept. It operates with two loops, (i) the primary loop, or building main loop, and (ii) smaller secondary loops off of each hot water boiler, which supply heated water to the primary loop.

Upon a call for heat, the boiler pump begins pushing the return water into the boiler and out through the secondary loop, supplying this hot water up into the primary loop (the main header), where it mixes with the cooler return water from the main loop of the building.

Supply and return water are blended, avoiding the need for expensive and unreliable mixing valves commonly used in two pipe systems.

The secondary loop isolates each hot water boiler, resulting in a very efficient system that minimizes thermal shock.

Control Panel

TRIAD Boilers can be sequenced by the use of our control panel that provides many attractive features: Temperature set-back when less heat is required, such as nights and weekends, Adjustments for latent heat, to take advantage of hot boiler water that retains heat after the burner shuts down, Outdoor reset based on atmospheric temperatures, Monitoring of return water temperatures to maintain accurate heating output.

It is also very easy to sequence our boilers using the panel of any other major manufacturer.

Packaged Product
Fisher Capital on Boiler Room Equipment, Inc: All TRIAD hot water boilers and steam boilers are fully assembled, packaged products, which offer several advantages over boilers that must be assembled at the jobsite

Onsite labor costs are minimized, Quality control is higher at the factory than at the jobsite, the ease of installation of a packaged boiler allows for quicker start up.

Benefits of Steel Boilers

Easy to Clean
To maintain boiler efficiency, heating surfaces must be kept clean and free of combustion by-products. All TRIAD heating surfaces, especially the fire tubes, are easy to access. It is impossible to clean all the heating surfaces of a cast iron boiler, and what can be reached is difficult to clean.

TRIAD also makes it easy to maintain clean water surfaces. The cleaning of the interior of a cast iron boiler is a major undertaking, and even then only the vertical surfaces can be cleaned. The inability to clean the horizontal surfaces can have a significant impact on operating efficiency.

Easy to Repair
Because of their steel construction, TRIAD hot water and steam boilers can be repaired in the field with minimal disruption. A leak can be permanently welded or the tubes re-rolled with little difficulty. It is impossible to permanently weld a cracked cast iron boiler section or a leaking copper fin-tube boiler. The fire tubes are easily accessed through the top and through the fire door.

Fast Water Circulation
Poor circulation of water within the typical cast iron boiler is very common due to their design limits, while TRIAD's steel hot water boilers provide for faster circulation.

Fisher Capital Management Reports: International Equities

The third quarter saw double-digit returns for the world¹s equity markets. U.S. large-cap stocks, as measured by the Russell 1000 Index, rose 16.07%, bringing that index’s year-to-date return to 21.08%. Mid-cap stocks were the best performers overall, with the Russell Mid-Cap Index gaining 20.62% for the third quarter and 32.63% for the year. Value stocks bounced back during the quarter, outperforming growth stocks across the full range of market capitalizations. Small-cap value stocks were the best performers for the quarter but still lagged their small growth counterparts by almost 13 percentage points for the year.

International Equities: Fisher Capital management, Korea reports: International equities posted double-digit gains for the third quarter as well. The MSCI EAFE IMI Index gained 19.82% in the third quarter, with local-currency average market returns of 15.10% boosted by the weak performance of the U.S. dollar.

Emerging markets produced another strong quarter, but one that was more in line with developed market returns than was the case during the second quarter of 2009, as the MSCI Emerging Market IMI Index rose 21.30% for the third quarter. Both developed and emerging markets were driven higher by the strong performance of European equity markets, while Asian markets, particularly in Japan, lagged.

Fisher Capital Management Outlook: At the end of the quarter, markets reacted negatively to mixed economic news, signaling a potential correction off the recent highs. The strong rally since the market’s low of March 9, 2009 has left observers wondering whether rapidly-rising stock valuations have become prematurely rich and earnings expectations somewhat stretched.

While we are cautious about the performance of the market in the short term, we continue to expect a slower, but more robust and sustained, “smile-shaped” economic recovery in the long run.

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Providing a client service that is second to none.  Learn how your Investment Advisor, with the support of the team of professionals at Fisher Capital, can help address the issues you face while preserving, enhancing and transferring your wealth...Diversification and quality are our research guidelines. At Fisher, we are committed to a long-term investment philosophy that emphasizes quality and diversification. We do business this way because years of experience have convinced us that...

We find the right investment balance for our clients. Fisher leads the way in the provision of first class advisory services across the investment spectrum. Our clients range from private individuals, to intermediaries and global institutions...

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Lease Scams

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

Let's be direct. Unsolicited, "Pre-Qualified credit line" mass mailings are unethical at best.  You know the pitch: "Because of your excellent Dun & Bradstreet rating your company has been selected to receive a $75,000 leasing line of credit!  Just call your customer Service Rep to activate your line".

When you call you are congratulated and then faxed a "membership confirmation form."  You are told to start selecting equipment from vendors of your choice, arrange for delivery and let the vendor know that you are pre-approved by the leasing company.

What are the problems here?  In no certain order, the problems are:

Your company is NOT pre-approved.  The "membership confirmation" is nothing but a credit application.

The rate or payment per month can (and often does) change because of something on your credit report even though you were pre-qualified.

There is now an extortive effect: the equipment is about to be delivered, and you must go along with the high price (or other unpleasant terms), or have to admit to the vendor that your being "pre-approved" was not accurate -- there's a question about your credit.

There are many scams and unfair practices that are all too common in the finance industry (See "What to Watch For," below.).  The mailing list "Pre-Approver" has given you a signal that he is prone to dishonesty.  Be Aware.

We recently received a call from an entrepeneur who has been trying to clean up his credit report.  This fellow has paid off all but $20,000 of a quarter million in delinquencies, charge-offs, and judgements, in spite of his attorney are telling him to just go bankrupt.  I like this guy.  He chose to do the right thing.  But he is not ready to be approved at anything like a reasonable rate.  What's the damage?  Not only did the "Pre-approver" unrealistically raise his hopes and then humiliate him to the three vendors from whom he wanted to acquire equipment, they also "shot-gunned" his application to other leasing companies (apparently trying to broker the deal).  This actually created unnecessary "inquiries" on his credit report, making it worse than it would have been.  

What to Watch For? What can be misrepresented?  The list is long, but here is the simple key to most problems: Verbal assurances are meaningless if they are not written into your lease.  Or, as one industry wit says, "If it's not in the contract, it's not in the deal."

EXAMPLES:

 "Blah, blah, blah...and then you own the equipment."  Yeah, sure!  If you do not have a documented one-dollar purchase option - either in the lease or as a separate document, you can look forward to paying anywhere from ten to fifty percent of the original cost of the equipment to purchase it at the end.  What's that? You want to fight it? Monthly rental payments will continue while you are fighting that losing battle.  You MUST make sure BEFORE you sign a lease that the purchase option you negotiated is in binding written form.  By the way, be certain that there are no unreasonable purchase option terms, such as "...you must notify us 90 days before the end of the lease or your lease renews and you must make payments for an additional one year period.

"...and the interest rate is only _____." (Fill in the blank).  A leasing company rep can be held to monthly payment, number of months, purchase option, documentation fee, total dollar amount of finance cost, and number of advance payments.  He cannot be held to the interest rate because it does not appear in the contract.  At Keystone Equipment Leasing, Inc., we encourage comparison shopping.  But compare the things that are in the contract. It is the only way to do an apples-to-apples analysis.  Interest rate formulas are complex things (even Albert Einstein is reputed to have been fascinated) and few people can work it backwards.  At least if you work out several lease quotes yourself, you'll be using the same formula for each to see who has the best deal.  Note:  For the past two decades we have been offering lunch at the best restaurant in the customer's town if we could not prove that the "interest-rate" quote for any leasing company was inaccurate.  Still no winners.  If you have a few quotes with payment amount and terms, you will be doing the best you can -- and we at Keystone will win your business almost every time.

Advance Rentals vs. Security Deposits:  Advance rentals are usually applied to the first monthly payment and the last one or two payments. Security deposit application is dependent on the ethics of the leasing company.  Is it refundable? Can it be used for the last couple of payments? Is it in addition to a first month's rental? (That would make a two advance payment deal into a three advance payment deal.)

"Is there an early buy-out or pre-payment penalty? Absolutely not!" says the glib lease salesman.  I am reminded of the software engineers' advice: "When all else fails, RTFM (read the manual)."  These contracts are non-cancelable.  A decent leasing company will allow you to discount the accelerated payments at a reasonable rate.  A bad one will allow you to write a check for all of the remaining payments on your lease without adding a penalty payment, and that IS a penalty. You are paying early, without any rebate of the finance charges.

New Options in Guided Boring, Fisher Capital Equipment Management Update

The Akkerman team, continually committed to increasing the versatility of our products, recently launched several new components for our GBM line of equipment.

Fisher Capital Equipment leasing news update from different suppliers. Fisher Capital Equipment Management leasing gives you fresh events and updates on Construction Machineries, Suppliers Directory and Others to keep away from scam from Unsolicited, "Pre-Qualified credit line" mass mailings

The Powered Reaming Head (PRH) upsizing kit for its Guided Boring Machine (GBM) system was released. This GBM accessory allows owners to bore multiple pipe diameters with just one set of 11” OD (279 mm) thrust casings and augers. The base 14” (356 mm) OD PRH unit features 16” (406 mm) and 20” (508mm) OD increaser kits and corresponding pipe adapter rings to accommodate up to 20” (508 mm) OD pipe. All PRH components rest on a customized rack for ease of transport and orderliness on the job site. The PRH front and rear sections can be launched separately to accommodate minimal diameter shafts. The PRH kit performs well with all Akkerman power packs and jacking frames.

The P150Q Power Pack provides hydraulic power to the GBM jacking frame and Powered Cutter Head for smooth and efficient operation. The P150Q houses a 154 HP (115 kw) diesel engine. Its three load-sensing variable displacement axial piston pumps independently operate the jacking, rotation and PCH. It also features a 100 gal (378 L) fuel tank and 50 gal (189 L) hydraulic oil reservoirs.

The Jetting and Lubrication pump underwent a design reconfiguration for enhanced compactness. It features independent hydrostatic flow connections, bulkhead connections for pressure and return lines and an easily serviceable open/close valve on the tank outlet. Customers may choose the 3,000 rpm, 30 HP (7 kW) diesel engine or 1,750 rpm, 30 HP (7 kW) electric motor. Each 325 gal (1,230 L) tank is positioned side-by-side on a pallet-like base. The 2,500 psi (17,237 kPa) high-pressure jetting pump assists the GBM system’s excavation process by lubricating cutter bits and spoils. An in-line suction filter protects the pump from contaminants in the water. The 150 maximum psi (1,034 kPa) lubrication pump flows at 4gpm (15 L/min) and features an agitator which mixes the lubrication quickly and keeps it consistent throughout production.

For more information on these and other GBM products, please contact our friendly sales staff or an international representative.

Akkerman Inc. is positioned for sales in new markets with recently established representation in the Middle East, India, Russia and Singapore. Agreements with Trenchers Land Digging & Filling LLC, based in the United Arab Emirates, Asia Contech Ltd. of India, Intertorg Russia and ICE Far East in Singapore pioneer exciting prospects for Akkerman Inc. worldwide. Trenchers Land Digging & Filling LLC of Dubai recently facilitated the sale of a complete Guided Boring Machine (GBM) system for a Kuwait contractor. This sale denotes the first GBM system sold in the Middle East as well as the most powerful pilot tube micro tunneling configuration available. The 4812A jacking frame with 200 tons of thrust, 275T power pack, Powered Cutter Head and Jetting and Lubrication pump will install DN 300-1,000 mm pipes for drives up to 150 m long. Asia Contech Ltd. of New Delhi, providing sales and service of Akkerman equipment in India, also represents trenchless companies American Augers, ASTEC and Trencor. ICE Far East of Singapore, a south East Asia office for International Construction Equipment (ICE) will represent Akkerman in this region. Intertorg of Moscow, a US based company with expertise in the Russian trenchless market, has been a longtime dealer for Ditch Witch and previously represented Lovat, Soltau and MTS equipment.

Akkerman welcomes these organizations into its community of sales representatives. Tunnel Engineering Services in the United Kingdom, Ditch Witch of Australia, Virtual Engineering of Columbia and the Alinea Group of Mexico have been agents of Akkerman for many years. Additional representatives have been appointed in Egypt, Turkey, Bulgaria, Poland, Brazil, Italy and Pakistan. For a full listing of equipment representatives, please review the “Contact Us” page on the Akkerman website.

Fisher Capital Management: Market Performance

Market Performance: Fisher Capital Management - Stocks closed lower in October for the first time in seven months, as investors questioned whether the huge rally off the March lows had exceeded the economy’s ability to generate growth in output and profits.

Indeed, equities capped off a volatile month (the Dow Jones Industrial Average (DJIA) experienced triple-digit moves in ten trading sessions!) with a volatile week, as the S&P 500 Index experienced its worst five-day span since early July.

For the month, the DJIA eked out a fractional gain, while all the other major equity market indices suffered losses. Small cap stocks, which had been among the performance leaders of the seven-month rally, experienced the worst hit, with the Russell 2000® Index falling by almost 7%. In another sign that the market may be growing skeptical of the “higher risk, higher reward” strategy, the NASDAQ Composite Index, dominated by technology holdings, declined 3.6% for the month.

Market Performance: Fisher Capital Management - Yet perhaps emblematic of the struggles experienced in the markets recently, growth stocks outperformed value in October, contradicting the idea that the pursuit of “risk” had become out of favor over the past several weeks. Moreover, the weakness in U.S. markets failed to extend beyond our borders last month, as developed markets (MSCI EAFE) experienced just a fractional loss, while the emerging markets (MSCI EM) managed to rise by up to 1%, adding to their impressive year-to-date (YTD) returns.

From a sector perspective, two of the three leading performers off the March lows (financials and materials) declined by the largest amounts in October, as investors appeared to lock in gains of approximately 150% for the financials sector and 75% for the materials sector. Despite the weakness in the technologyladen NASDAQ Composite last month, the higher-quality and larger-cap tech names comprising the S&P 500 Index’s information technology sector simply dropped fractionally. Rising oil prices pushed the energy sector higher by 3%, and the “defensive trade” was still evident within the consumer staples sector, which held on for a 1% gain.

Market Performance: Fisher Capital Management - In other asset classes, fixed-income was mixed last month. The yield on the 10-year Treasury note backed up by seven basis points, as traders likely moved funds elsewhere as the Federal Reserve concluded its $300 billion Treasury purchase program. The dollar continued to weaken, hovering near 14-month lows, which helped drive up the prices for oil, gold, and most commodities.

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

LBX and Sumitomo Sumitomo (S.H.I.) Construction Co., Ltd. Acquires

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others – 100% Ownership of LBX Company.

Sumitomo (S.H.I.) Construction Machinery Co., Ltd. (SCM), a leading manufacturer of hydraulic crawler excavators headquartered in Tokyo, Japan, announced today that effective as of April 30, 2010 it has acquired full ownership of LBX Company (LBX) headquartered in Lexington, KY.

LBX was originally formed as part of a global alliance between SCM and Case Corporation, and holds the manufacturing rights to SCM's excavator products in North and Latin America. LBX has been marketing and selling Sumitomo excavators, forestry, material handling and demolition products under the Link-Belt excavator brand name since the company's formation.

"This acquisition underscores SCM's dedication to LBX and the Link-Belt® excavator brand, and will contribute greatly to our success and expansion throughout North, South and Central America," stated Robert Harvell, CEO of LBX Company. "Over the years, our long-term relationship with SCM has been built on a solid foundation of providing superior product quality, innovative designs, and dedicated commitment to our dealer network and customers."

"We believe that this acquisition will allow both LBX and SCM to achieve our common long-term global growth strategies," said Kensuke Shimizu, President of Sumitomo Construction Machinery.

Since its formation, LBX has passed several growth milestones, including the creation of a corporate campus in Lexington, KY that includes a world-wide parts distribution center, product testing grounds, training facilities and testing and service bays. Additionally, the Link-Belt® excavator products have evolved to meet the needs of today's marketplace, including the introduction of new models such as the Link-Belt® 360 X2 Rubber Tire material handling excavator, which was unveiled at the ISRI Convention last week in San Diego, CA.

"We look forward to working very closely with SCM in the development of future products and our dealer network to further expand our position in the marketplace," Harvell said. The management team of LBX will remain in place.

Komatsu America Corp. Introduces the WA1200-6 Wheel Loader

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

Meets EPA Tier 2 Emissions Regulation With More Horse Power, Reliability, Durability, Lower Fuel Consumption, Increased Productivity, Enhanced Operator Cab and Easier Maintenance, 1892 Gross HP (SAE J1995), 1765 Net HP (SAE J1349) @ 1800 rpm, Engine RPM control system with auto deceleration New variable transmission cut-off system, New dual-mode active working hydraulic system, Additional torque converter cooler, Increased hydraulic cooling capacity, Extended service intervals

Rolling Meadows, IL, September 8, 2010 — Komatsu America Corp. (KAC) today introduced its new WA1200-6 Wheel Loader for use in mining applications. Based on extensive customer input and feedback, the new loader includes environmental, technological and ergonomic enhancements for even greater productivity, while lowering operating costs.

The new WA1200-6 is powered by a highly-efficient Komatsu SAADA16V160E-2 engine that delivers 1892 Gross HP at 1800 RPM. With an operating weight of 477,100 lbs., the new loader offers increased fuel efficiency, while meeting all EPA Tier 2 emissions requirements.

Special features of the WA1200-6 include:

Productivity Performance

The engine net output of the WA1200-6 has been increased by 132 HP to 1765 HP at 1800 RPM. The use of an electronic governor results in low fuel consumption, with quick throttle response to match the machine’s powerful tractive effort and fast hydraulic response.

The new dual-mode active working hydraulic system allows the operator to select between normal and powerful loading, while the optimum oil flow in the working system increases efficiency and reduces cycle times. Increased engine output and the optimized hydraulic system provide outstanding production and performance.

Operator Enhancements

The engine RPM control system with auto deceleration allows the operator to set the engine RPM at the optimum work performance level and control speed smoothly with the accelerator. The variable transmission cut-off system for the left brake pedal is adjustable by a switch at the operator’s seat. When loading, the low setting reduces brake impact to prevent spillage, while the high setting can be used for traveling.

Improved Reliability and Durability

An additional torque converter cooler was added as standard equipment to reduce oil temperature and increase cooling capacity. For hydraulic cooling, a new pump with increased oil capacity was added and the circulation was revised to lower oil temperature. Two additional air cleaners were added and the size of the elements increased to 15 inches for more capacity.

Komatsu America Partners with Pedregon Racing, Two-time NHRA Funny Car world champion Tony Pedregon’s Chevrolet Funny Car will feature primary sponsorship from Komatsu America Corp. for the O’Reilly Auto Parts NHRA Nationals, Sept. 17-19, at Charlotte, NC.

“Komatsu America is excited to be sponsoring Tony Pedregon’s car,” said Erik Wilde, Vice President, Product Marketing, Komatsu America Corp. “Tony’s reputation as a world champion aligns well with Komatsu’s world-wide reputation for producing outstanding equipment.”

Komatsu will also be an associate sponsor on the Pedregon Racing Funny Car and on Cruz Pedregon’s Snap-on Racing Tools Funny Car, with races slated for Sept. 23-26 at Dallas, TX, Oct. 7-10 at Reading, PA, Oct. 28-31 at Las Vegas, NV, and Nov. 11-14 at Pomona, CA.

“Komatsu is an international leader in the field of construction and mining equipment,” said Pedregon during the announcement. “We are pleased to promote awareness of the brand to our race fans as well as the Komatsu dealers and their customers.”

Tony Pedregon is one of 10 Funny Car drivers competing for final positions in NHRA’s Countdown to one playoffs. This weekend’s event is the second of six title-deciding races.

Komatsu America Corp. is a U.S. subsidiary of Komatsu Ltd. which is the world’s second largest manufacturer and supplier of construction, mining and compact construction equipment. Komatsu America also serves forklift and forestry markets. Through its distributor network, Komatsu offers a state-of-the-art parts and service program to support the equipment. Komatsu has proudly been providing high-quality reliable products for nearly a century. Visit the website at www.komatsuamerica.com for more information.

U.S. Equities: Fisher Capital Management Reports

As mentioned previously, stocks finished a volatile month in October with a volatile final week of trading, as investors began to question whether the market¹s impressive rally had surpassed the economy¹s ability to generate growth in output and profits.

To be sure, throughout the market’s impressive rebound, the technical picture for stocks gathered steam, as excess liquidity helped drive the market higher.

Fisher Capital Management, US Equities Reports: As one technical achievement passed another, we began to postulate that the market’s technicals appeared significantly better than its fundamentals.

Some of these concerns may be coming to fruition over the near term, as a few technical strengths appear to have softened in recent weeks. Indeed, as the S&P 500 Index approached the 1,100 level during the middle of October, the market ran into strong resistance, falling by approximately 5% from that high by month-end.

Fisher Capital Management, US Equities Reports: This may prove to be an important development because at 1,100, the S&P 500 was within about 20 points of achieving a 50% retracement, whereby the market could have recouped 50% of the loss from the October 2007 high of 1565 to the March 2009 low of 666. Given all the cash parked in money markets and shortterm Treasury bills, another surge or two above 1,100 is certainly possible. Yet 1,121 is a number that should be on the radar for all investors, because if it is achieved, very little technical resistance exists on the path to 1200.

In addition to the strong resistance, stocks failed to hold a key support level on the last day of October. The market’s 50-day moving average (DMA) was 1,052 heading into Halloween weekend, but investors were spooked by poor readings on personal spending and consumer confidence, resulting in a close (1,036) below the important 50- DMA level. An important test will be in the first several trading days of November to see whether or not the market can sustain its rally above this key support level.

Fisher Capital Management, US Equities Reports: This weakness was exacerbated by a surge in the market’s “fear gauge” toward the end of October. The Chicago Board Options Exchange Volatility Index, or VIX, which measures the cost of using options as insurance against declines in the S&P 500 Index, surged in the final few days of trading last month.

While the VIX had been at a 14-month low in the middle of October, the 25% jump at the end of the month suggests investor skittishness about market direction over the next several weeks, particularly as the catalyst of earnings season draws to a close.

Fisher Capital Management, US Equities Reports: Fortunately, the fundamental picture has brightened. Better than expected economic data suggests the possibilities for an improvement in corporate performance. Interest rates and inflation remain low, providing a healthy backdrop for corporations that have been very aggressive cutting costs from their expense structures.

Indeed, recent earnings news has been somewhat positive, with 70% of the companies in the S&P 500 Index having reported an average decline in earnings per share (EPS) of 12% for the

third quarter, exceeding expectations.

Fisher Capital Management, US Equities Reports: Given our projections for a “less spectacular” economic recovery in 2010, though, we continue to believe that consensus estimates for corporate profit growth of up to 35% next year are too high. Consequently, our operating EPS projections remain more than 12% below consensus expectations ($75.00) for 2010.

Businesses can’t cut costs forever, and at some point we believe revenue growth is a necessity to help justify valuations for a market that is already trading at a price/earnings (P/E) ratio of 16 to 17 times our $65.00 estimate for next year. Until we begin to see an improvement in the longer-term trends for housing, employment, credit, sales, and profits, we suspect the market will be unwilling to pay anything more than historically average P/E multiples (16 to 17 times) for a dollar of earnings. Therefore, we continue to believe the market, as defined by the S&P 500 Index, will likely be fairly valued within the current range of 1,050 to 1,100 over the next six months.

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world. As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Fisher Capital Management: Market Performance – US Economy

Fisher Capital Management Report, Part 1 - Output growth exceeded what were once considered lofty expectations during the third quarter, as real GDP (inflation adjusted Gross Domestic Product) rose by a 3.5% annual pace from the previous quarter. To be sure, this was the first gain in economic activity after four consecutive quarterly declines in GDP. While technically this indicates an end to the recession, we point out that on a year-over-year (YOY) basis, economic activity has still declined 2.3%, yet it represents an improvement from the -3.8% YOY in the second quarter, the worst annual drop in seven decades.  The components of GDP were led by growth in personal consumption, which increased 3.4% as stimulus programs such as “Cash for Clunkers” allowed consumer spending to increase by the largest amount in two years. Home construction surged at an annual rate of 23%, spurred on by the $8,000 tax credit for first-time buyers. Another decline in business inventories also added to output, as did the growth in government spending (2.3%). Though businesses increased spending on equipment and software, fixed investment remained weak.

Market Performance, US Economy: Fisher Capital Management Report - As the positive effects of federal stimuli diminish, we continue to project an economic recovery that is “less spectacular” than in previous experiences. While output growth has improved as government programs spurred consumption relative to housing and autos, our concern rests on the economy¹s ability to sustain these rates of growth as government programs wane. Indeed, personal spending fell 0.5% in September after the “Cash for Clunkers” program concluded in August. Consumer confidence also weakened in October as the unemployment rate approached 10%. Until we experience a sustainable floor in housing and a ceiling on the unemployment rate, we suspect output growth will rely on exports, inventories, and government outlays, areas that we characterize as “cushions” for growth.

Market Performance, US Economy: Fisher Capital Management Report - As the unemployment rate lingers within the range of 10% and Fed policymakers remain committed to keeping interest rates low for an “extended period,” we look for real GDP to expand at an average rate of approximately 2.5% in 2010.

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Market Overview December 2009: Fisher Capital Management

Market Overview December 2009: Fisher Capital Management - Stocks closed lower in October for the first time in seven months, as investors questioned whether the huge rally off the March lows had exceeded the economy’s ability to generate growth in output and profits.

Indeed, equities capped off a volatile month (the Dow Jones Industrial Average (DJIA) experienced triple-digit moves in ten trading sessions!) with a volatile week, as the S&P 500 Index experienced its worst five-day span since early July.

For the month, the DJIA eked out a fractional gain, while all the other major equity market indices suffered losses. Small cap stocks, which had been among the performance leaders of the seven-month rally, experienced the worst hit, with the Russell 2000® Index falling by almost 7%. In another sign that the market may be growing skeptical of the “higher risk, higher reward” strategy, the NASDAQ Composite Index, dominated by technology holdings, declined 3.6% for the month.

Market Overview December 2009: Fisher Capital Management - Yet perhaps emblematic of the struggles experienced in the markets recently, growth stocks outperformed value in October, contradicting the idea that the pursuit of “risk” had become out of favor over the past several weeks. Moreover, the weakness in U.S. markets failed to extend beyond our borders last month, as developed markets (MSCI EAFE) experienced just a fractional loss, while the emerging markets (MSCI EM) managed to rise by up to 1%, adding to their impressive year-to-date (YTD) returns.

From a sector perspective, two of the three leading performers off the March lows (financials and materials) declined by the largest amounts in October, as investors appeared to lock in gains of approximately 150% for the financials sector and 75% for the materials sector. Despite the weakness in the technologyladen NASDAQ Composite last month, the higher-quality and larger-cap tech names comprising the S&P 500 Index’s information technology sector simply dropped fractionally. Rising oil prices pushed the energy sector higher by 3%, and the “defensive trade” was still evident within the consumer staples sector, which held on for a 1% gain.

Market Overview December 2009: Fisher Capital Management - In other asset classes, fixed-income was mixed last month. The yield on the 10-year Treasury note backed up by seven basis points, as traders likely moved funds elsewhere as the Federal Reserve concluded its $300 billion Treasury purchase program. The dollar continued to weaken, hovering near 14-month lows, which helped drive up the prices for oil, gold, and most commodities.

Fisher Capital Management Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world. As a full service company Fisher Capital Management Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.