Jug Vase Love

I love it when something so simple makes a big impact.  I found a green jug vase for $10 at Homegoods and clipped a couple branches from a tree in our backyard.  A perfect springtime centerpiece for our breakfast table.  

The runner is from Target.  

Easter has totally snuck up on my this year.  I just pulled out a couple of Easter decorations last weekend, but they are the same as last year, so I didn't take any new photos.  I will keep it simple this year and focus on coloring eggs with James, taking the family to church and brunch, then having an egg hunt with the kiddos.  Can't wait!

Greece's Oil Shock

In February I wrote that Hellenic (Greece's main oil refiner):

"are currently negotiating for supplies of oil from elsewhere, any admission that their supplies have been cut will negatively impact those negotiations and cause panic buying in Greece."

Today Hellenic have announced that it has suspended purchases of Iranian crude in April, as approaching sanctions on Tehran have made banking payments virtually impossible.

This of course means that its negotiations for reasonably priced supplies for Greece from elsewhere have just been torpedoed.  

Hardly good news for the imploding Greek economy!

FSA Grows Some Balls

In a rare display of balls, the soon to be disbanded FSA fined Ian Hannam, the Chairman of Capital Markets at J P Morgan Cazenove, £450K.

For good measure the FSA also published their decision:

"The Financial Services Authority (FSA) has today published a Decision Notice for Ian Hannam, the Chairman of Capital Markets at J P Morgan Cazenove. The Decision Notice indicates that the FSA has decided to fine Hannam £450,000 for market abuse.

Hannam has referred the matter to the Upper Tribunal (the Tribunal) where he and the FSA will each present their case.  The Tribunal will then determine the appropriate action for the FSA to take. The Tribunal may uphold, vary or cancel the FSA’s decision.  The Tribunal’s decision will be made public on its website.

In the Decision Notice dated 27 February 2012, the FSA set out its decision to fine Hannam for two instances of market abuse (improper disclosure).  In the FSA’s opinion, Hannam disclosed inside information in two emails sent in September and October 2008 to a prospective client.  The emails contained inside information relating to Heritage Oil Plc (Heritage), an existing J P Morgan client for which Hannam was the lead adviser. 

The September email contained information about a potential offer for Heritage and the October email contained information about a new oil find by Heritage.

The Decision Notice states that the FSA accepts that Hannam did not set out to commit market abuse but considers that Hannam’s failings were serious in view of his experience and senior position within J P Morgan. 

The FSA believes that the size of the proposed fine reflects the serious nature of the market abuse and should act as a deterrent to other market participants. 

Tracey McDermott, acting FSA director of enforcement and financial crime, said:

“Inside information is extremely valuable and must be handled with care to ensure that it is properly controlled and that appropriate safeguards are observed.  This applies to all market participants but is particularly important for senior practitioners who will regularly interact with a wide circle of contacts”.

Hannam is disputing the fine. However, he has today resigned from JP Morgan.

Updating the Guest Room (Orange & Aqua)

Over the weekend, I finally got started on cleaning up our guest room.  This was one of those rooms with left over, mismatched furniture, project remnants, and art that couldn't find a home elsewhere.  We recently moved our old king bed into the room and put it where the queen bed had been.  But our king bed has a tall headboard that was blocking most of the window, so I knew we needed to switch up the placement of the furniture. 

Here is the embarrassing "before" picture.  I feel so bad for my poor inlaws for staying in that ugly room!

And below is how the room looks with the bed on the adjacent wall- now the window can breathe:).  The room is still in progress, but I wanted to give you a glimpse of how it's coming along.  I used mostly items I already had (the orange and white duvet cover from WalMart and my aqua lamps that were in my office).  I plan on adding drapes, but haven't chosen the fabric yet.  

I moved the white dresser to the opposite wall (I've had it since I was 18!) and added a new runner (from Z Gallerie).  The styling needs work, I'm still trying things out.  

I already had a funky orange elephant and orange lamp from Homegoods.  I also had the tray from Z Gallerie. 

The lamp was one of those purchases where you're in the store, see something you love, but have absolutely no idea what you're going to do with it since it's a departure from your typical style, but you have to have it:) 

I'm excited about how fresh the room looks compared to what we started with.  I still have art to hang and I need a mirror for over the dresser.  

My room is largely inspired by the gorgeous room designed by Tobi Fairley with orange and mint.  I've loved that photo for so long, and finally decided to go for it.  Right now, I've got mostly the orange going on, but the art and drapes will bring in more of that aqua/mint color.  

Our dark bed isn't ideal for the light, airy feel of the photograph, but we're working with what we have.  

Slowly, but surely, this house is coming along!  

And note to inlaws: Come back soon, we'll have a new room ready for you! :)

Greece's Deathmarch Continues

The Foundation for Economic and Industrial Research (IOBE) reports that the Greek economy will continue to shrink (5%) this year, and that unemployment is at 20%.

Eurozone Unemployment Rises

Unemployment across the Eurozone has increased from 10.7% in January to 10.8% in February, the highest level since the Euro was imposed in 1999.

Spain leads the field, with a stonking 23.6% of its citizens unemployed!

Greece Postpones "Deadline" Again

Despite the threats and empty rhetoric from the Greek government, and others within the Eurozone, investors in Greek bonds issued under foreign law have not rolled over and acquiesced to threats; instead they have rejected Greece's attempts to restructure the debt at meetings held last week.

In 20 out of 36 meetings, bondholders either turned down the government’s proposal, adjourned the talks or failed to achieve a quorum.

What happens now?

Oh, that's easy, Greece has yet again postponed the "deadline" (from 4th April) to 18 April!

Oh, and by the way, there is a payment due today on some bonds relating to Greek railways.