Word: jpmorgan
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...went public (an investment that is so far more than $300 million underwater). This and the CDB stake in Barclays are the most high-profile foreign investments China has made since the oil firm CNOOC tried and failed to buy U.S. oil company Unocal in 2005. Says Jing Ulrich, JPMorgan's Hong Kong-based head of China equities: "China has a wall of money - a tsunami, really - that is about to hit the rest of the world. In terms of global capital markets, there is just nothing happening that's bigger than this right now." Indeed, JPMorgan figures that...
...their own foreign spending spree in the late 1980s. The Japanese not only met considerable public opposition in the U.S., but in several instances, vastly overpaid for glamorous properties such as the Pebble Beach golf course. "I don't expect China to go in for trophy properties," says JPMorgan's Ulrich. "They know the lesson of the Japanese debacle." That said, she concedes, the odds are that Chinese companies will make mistakes of their own, given the sheer volume of deals to come. "This," she says, "has only just begun...
...Chinese government views this blue-chip IPO parade as essential for economic modernization. "The government wants a healthy equity culture to gradually develop in China," says Jing Ulrich, managing director of China equities at JPMorgan in Hong Kong, "because allocating capital more efficiently is central to the ongoing reform process." The government has outsized influence over large Chinese corporations for a simple reason: most being brought to market are state owned. Encouraging big, well-known companies to make their shares available to domestic investors-who have very limited access to markets abroad-makes sense. China's equity markets have...
...JPMorgan Chase $649 billion...
...seek alternative avenues to build their families. With each adoption costing up to $30,000 and often demanding mounds of paperwork and weeks of travel, workers are asking their employers for help. They're getting it, mainly from companies in competitive industries hungry to attract and keep talent. Google, JPMorgan Chase, Abbott Laboratories, Avon and Motorola have all added adoption assistance to their buffet of benefits. In 1990, only 12% of 1,000 companies surveyed by Hewitt Associates offered financial assistance for adoption. By 2006, 45% of companies did. Rita Sorensen, executive director of the Dave Thomas Foundation for Adoption...