| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
|
Ferrari -
a measure of patience:
As the number of millionaires keep
growing in China, Russia and the
Middle East, the waiting list to buy a
Ferrari keeps getting longer--as high as
24 months of late. For years, Ferrari
SpA, a division of Fiat SpA, had a
standard 12-month waiting list for a new
car. That was long enough to keep
prospective owners from going to
competitors such as Porsche AG or
Volkswagen AG's Lamborghini, where
waiting times are usually shorter.
Ferrari made over 6,000 cars last year.
Ferraris currently retail from $200,000
for a F430 to $290,000 for a 599 GTB
Fiorano. The Company sells more than
100 cars annually in the United Arab
Emirates and more than 150 in China --
two markets where sales were virtually
nonexistent only a decade ago. Ferrari
shipped 60 cars to Russia last year, only
three years after opening its first
dealership there. Ferrari
sales by country:
| U.S. and Canada |
28% |
|
Germany |
12 |
|
Italy |
12 |
|
UK |
11 |
|
France |
5 |
|
Switzerland |
5 |
|
Japan |
5 |
|
China |
2 |
|
Others |
20 |
Foreign investment
to start or
purchase U.S. businesses surged 77%
in 2006 to a six year high of $162 billion.
Federal Reserve says
the timing of a
housing rebound has grown more
uncertain due to stricter lending
standards and higher mortgage rates.
U.S. productivity and income growth
(1) Growth in productivity
(2) Growth/(Decline) in median family
income
|
( 1 ) |
( 2 ) |
|
1947 to 1974 |
100% |
100% |
|
1974 to 2000 |
56% |
29% |
|
2000 to 2005 |
16% |
(2%) |
Where's the U.S. headed?
For more of the Generalist, please visit our website
at ARKCPACOM.
|
theGeneralist,
a one-page monthly publication of the accounting firm of A. R.
Kakhsaz Company, is in its 13th year of providing information,
presented fairly and accurately, from sources we can depend upon and
trust.
Sub-prime lending
problem:
Mortgages on properties that are not
occupied by the owner--those
purchased, hoping to flip them for a
quick profit--account for between 21%
and 32% of the defaults on prime-equity
home loans in Arizona, California,
Florida, and Nevada. Those are the
states where overdue payments have
been mounting fast. The four states
were among the favorites for speculators
during the housing boom.
Babies of diabetics
are poor sucklers.
U.N. report on workers
productivity:
American workers stay longer in the
office, at the factory or on the farm than
those in Europe and most other rich
nations. They also get more done per
hour than everyone but the Norwegians.
The average U.S. worker produces
$64,000 of wealth per year, more than
everyone in the world. Ireland comes in
second at $56,000, followed by
Luxembourg at $55,600, Belgium at
$55,200 and France at $54,600.
Norway, which is not an EU member,
generates the most output per working
hour at $38. The U.S. is second at $36,
some half-a-dollar ahead of third place
France. The U.S. employee puts in an
average 1,804 hours of work per year.
The Norwegian 1,407, and the french
1,564. America's increased productivity
"has to do with the information and
communication technologies revolution,
with the high level of competition in the
country and with the extension of trade
and investment abroad." Workers from
regions such as southeast Asia, Latin
America and the Middle East have the
potential to create more wealth but are
being held back by a lack of investment
in training, equipment and technology.
We see more in numbers
- than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
|
