Seeing Pressures but Also Possibilities in Urban Growth 1

Soon more of us will be living in cities, than in rural areas.
Population experts at the United Nations had thought that would happen by this years.
Lately their estimate is that in 2008 for the first time in history, more than half of the world population will be in urban ares.
The United Nations Population Fund just released its yearly "State of World Population" report.
Researchers say 3 and a 3rd billion people will be living in the urban areas next year.
By 2030 the estimate is almost 5 billion.
The fastest growth will be in Asia and Africa.
Poor people will make up most of the urban growth.
And nature increase will be the main cause of that growth, not migration from the rural areas.
Report says mega-city is of more than 10 million people have not grown to the sizes once expected.
Most growth is expected instead in smaller towns and cities.
The experts urge goverment to improve social services and city planing policies, for example report calls for better land use so poor peaple do not have to live in slums.
Today an estimated 1 billion live in these often polluted and dangerous enviroments, 90% of the people are in developing country.

《卖桔者言》中的读书方法

By MetalDudu on 读书

《卖桔者言》是张五常的一本书，书末谈到一些读书的方法，转贴如下：

一、理解代替记忆

　　很多人都知道明白了的课程比较容易记得。但理解其实并不是辅助记忆——理解是记忆的代替。强记理论不仅是很难记得准确：当需要应用时，强记的理论根本无济于事。明白了理论的基本概念及含义，你会突然觉得你的记忆力如有神助。道理很简单，明白了的东西就不用死记。但理论的理解有不同的深度，也有不同的准确性。理解愈深愈准确，记忆就愈清楚，而应用起来就愈能得心应手。所以读书要贯通——理论上的不同重点的联带关系要明白；要彻底——概念或原则的演变要清楚。

二、兴趣是因思想的集中而燃烧起来的

将一只手表放在书桌上。先看手表，然后开始读书或做功课。若你发觉能常常在30分钟内完全不记得手表的存在，你的集中力已有小成。能于每次读书对都完全忘记外物1小时以上，你就不用担心你的集中力。

三、问比答重要

很多学生怕发问的原因，是怕老师或同学认为他问得太浅或太蠢，令人发笑。但学而不问，不是真正的学习。发问的第一个黄金定律就是要脸皮厚！就算是问题再浅，不明白的就要问；无论任何人，只要能给你答案，你都可以问。

第一、问题可分三类——A、“是甚么”（What），B、“怎样办”（How?），C、“为甚么”（why）。学生要先断定问题是那一类。A类问的是事实；B类问的是方法；C类问的是理论。问题一经断定是那一类，学生就应立刻知道自己的“不知”是在那方面的，因而可免却混淆。若要问的问题包括是多过一类的，就要将问题以类分开。这一分就可显出自己的“不知”所在。第二、要尽量去将问题加上特性。换言之，你要问的一点是愈尖愈好。第三、在问老师之前，学生要先问自己问题的答案是否可轻易地在书本上找到。若然，就不应花老师的时间。大致上，用以上的步骤发问题，答案是自己可以轻而易举地找到的。若仍须问老师的话，你发问前的准备工作会使他觉得你是孺子可教。

四、书分三读——大意、细节、重点

第一读是快读，读大意，但求知道所读的一章究竟是关于甚么问题。快读就是翻书，跳读；读字而不读全句，务求得到一个大概的印象。翻得惯了，速度可以快得惊人。读大意，快翻两三次的效果要比不快不慢的翻一次好。第二读是慢读，读细节，务求明白内容。在这第二读中，不明白的地方可用铅笔在页旁作问号，但其他底线或记号却不可用。第三读是选读，读重点。强调记号是要到这最后一关才加上去的，因为哪一点是重点要在细读后才能选出来。而需要先经两读的主要原因，就是若没有经过一快一慢，选重点很容易会选错了。

政治改革

《经济研究参考》是财政部主管、经济科学出版社主办的杂志，近日，其最新一期以全部56页中将近一半的篇幅刊登了中共中央党校三年前完成的一份政治改革研究报告。这篇研究报告是由中共中央党校研究室副主任周天勇执笔完成，报告提出，其提议的改革措施将可以在未来20年中完成。报告建议：允许党员放弃无神论立场；缩减官僚机构的层级，包含将目前中共政府五级体制删去两级；支持非政府组织的发展；强化人大代表的竞选机制，不再由党在幕后主导一切，而人大代表员额必须缩减成目前的15%，并允许人大代表在会议间的真正辩论；不再让政府官员兼任人大代表。在十七大即将召开之前，这篇研究报告再度得到官方重视，引起各界瞩目。实际上，报告的上述建议有的已经在一定程度上得到贯彻实施，如目前已施行废除乡镇政府的试点，也减缩了省级党委及更低阶党委的人员编制，裁撤了数万名地方党委副书记职缺。另一方面，目前国家虽然表面上鼓励非政府组织，但实际上仍担心非政府组织发展成为一股不容忽视的反对力量。现在离该报告预计的目标完成时间还有17年，从已经得到验证的一些改革来看，或许今后中国的体制改革就将沿着该报告设计的轨迹前进。（ZAB）TOP

随摘

湊大一個子女鮋費用約三百萬

佘當奴希望香港人口增加到一千萬，有上述人口才有能力同紐約、倫敦競爭。其實，要求港人生三個係不切實際鮋，因為財政壓力唔細也，湊大一個子女鮋費用約三百萬，珊珊則話要四百萬（依家港人家庭普遍只有一個子女）

控制土地供應樓價焉能不升
　　內地連續四年鮋房地產宏觀調控，結果係點？只能進一步證明樓價係由供求關係決定。2005及06年某D城市每年銷售面積係完工面積鮋兩倍，住房供應不足背後因素是土地供應不足，因為土地轉化為住房用地方面出現瓶頸。例如去年國六條及九部委意見出台後，受九十平方米佔總供應量70％鮋政策影響，北京就有五百多個項目約三千萬平方米樓面因唔到建設用地規劃許可證而暫時擱置。大量宏觀調控出台，結果反令北京2004和05年公開出售土地建築面積只及當年銷售面積鮋五分一。例如去年出售用地一千零三十一公頃，亦只及去年銷售面積36％。除上述因素外，超過50％土地供應鰠北京郊區，而需求卻集中鰠城區內（上述情況亦粛廣州出現），試問樓價點能夠唔升？
　　根據統計，1986至2006年北京常住人口平均年增加二十七萬七千人，近三年升幅更達四十一萬五千人，可見北京房屋需求壓力有幾大。
　　二十一世紀不動產分析師認為，今年首季全國新建商品住宅銷售面積大於完工面積一點九倍，粛咁鮋情況下，全國樓價點樣回落?!
　　SOHO中國聯席主席潘石屹認為，近幾年房屋供應量相對減少，係促使房價上升鮋理由；房屋供應量減少，係前幾年土地供應量減少所形成。土地供應跟唔上房屋需求，係造成樓價上升鮋主因。自1996年開始，中國每年城市化率上升1.4％，加上家庭結構不斷縮細，令每年城市人口對新屋需求達六百萬套。除 2004年供應四百萬套外，其餘每年只有三百萬套左右，長期供不應求，引發2003年起樓價上升潮。5月份全國七十個大中城市房屋銷售價格指數為 106.4，創十八個月內新高，平均升幅6.4％；北京、深圳等五個大城市升幅更超過10％（深圳升12.3％、北京10.3％、北海15.2％、溫州升 10.9％、蚌埠升10.2％、南京升9.5％）。至於二手房升幅，北海升15.1％、深圳升13.9％、蚌埠升10.9％、北京升9.7％、鄭州升 9.7％，大連升8.2％。

所有加息都只係冷卻措施

有人問港元係咪需要加息？答案相信幾肯定。但加息後股市點睇，又係另一回事。過去我老曹已一再批評「加息股市跌、減息股市升」鮋理論，因為減息是由熊市引發（經濟唔好先至要減息），加息則由牛市引發；在牛市中，我地一定面對不斷加息，直到最後一次加息令牛市死亡為止；至於係哪一次？最低要求係存款利率高出 CPI增長率二厘。在未到達呢個水平前，所有加息都只係冷卻措施，情況有如熱天沖凍水涼，冷卻一纒，之後股市又再升過。

國家統計局可能低估國民收入35％

　　據報道，中國經濟研究中心鮋研究結果，國家統計局可能低估國民收入35％，即內地中產階級人均收入較統計局鮋公布數字為高。例如重慶啤酒廠發現，高價啤酒（售價較低價啤酒貴五倍）進入高增長期，花旗因此推介青島啤酒（168），並認為豬肉價上升，應對雨潤食品（1068）有利。有關研究發現，70％中國人面對政府機關調查員時，係唔願透露真正收入；如作以上修正，新數據係2005年中國最高收入10％人口已達九萬七千元人民幣一年！部分收入可能來自貪污，亦可能係兼職收入。因此，花旗進一步睇好內地零售股如銀泰百貨（1833）、金鷹商貿（3308）、國美電器（493）等，亦推介內地汽車股如華晨汽車（1114）、駿威汽車（203）、東風集團（489）、吉利汽車（175）及長城汽車（2333）等。

投資股票係低風險項目

　　好多人唔明白風險與回報鮋關係。其實，人生最大風險係：一、結婚；二、買樓；三、自己做生意。反之，風險最細係揀股，因為揀錯股份後損失15％可以止蝕賣出去，損失受局限。反之，買樓時做錯決定（由於大部分收入作供樓），再將它賣出去可以損失慘重，而結錯婚更加係一生一世。但大部分人唔視結婚為高風險行為，亦唔認為買樓涉及很大風險；反之，投資股票卻視為高風險，真是奇哉怪也！其實，只要事前做足功課，投資股票絕對係低風險項目，起碼較結婚、買樓或自己做生意風險低許多。

大量訂單在手未必好事
　　今年中國造船業大量訂單鰠手亦非好事，因人民幣每升1％，全國造船成本上升二十億元，因為接單係以美元計，開支唔少係人民幣計。依家手上三百三十億美元合約，最遠期可到2011年，到時可能係蝕本生意亦唔奇。仲有鋼價上漲問題及出口退稅可能取消，小心中國重蹈1975至88年日本造船業鮋覆轍。南韓及日本造船業早已擔心本國貨幣升值而少接單，中國造船業可能未曾經歷過外礇因素，大量接入遠期訂單，種下未來危機。

百萬富翁

1967年我老曹剛離開學校踏足社會做事之時，一百萬係一個幾驚人鮋數字，所謂「百萬富翁」。四十年過去，今年如果你退休之時只有一百萬，便必須過幾克己鮋生活。由此可見通貨膨脹鮋威力，鰠四十年內將一百萬購買力蠶食鰦97％。今天要過相當於1967年做百萬富翁鮋生活水平，閣下需要三千二百萬財富至得。

　　大部分人認為退休後開支可以慳番D，事實並非如此。以我老曹為例，家纒一星期工作七天，根本上冇時間消費；一旦退休，消費肯定不減反升。據麥健時報告，擁有一百萬美元或以上鮋人退休後鮋消費較打工時多100％，而非一般人以為退休後開支係退休前鮋65％。另一誤會係以為退休後可以唔再賺錢。麥健時報告同時指出，高收入階級退休後只係唔再返工而有更多時間理財，粛投資方面回報較未退休前更多，61％美國人退休後仍然繼續賺錢，只係改用腦力賺錢，較少用勞力賺錢而已。
　　換言之，退休人士分兩類：一、普通打工仔退休後為節省一D，開支係未退休前鮋65％。二、擁有一百萬美元或以上（唔計自住物業）鮋人退休後開支大幅上升100％，佢地大部分繼續理財，讓財富保持健康增長，退休後因為更專心理財，因此所賺蚊年可能較退休前更多。

美國總統

　　1980年列根當選美國總統，未上任已委派雪茄伏接掌聯儲局。雪茄伏將利率大幅提升，從此改變鰦全球鮋高通脹期。老殊接手後，通脹率曾欲抬頭，可惜連任失敗。克仔上台，同俄羅斯關係良好，來自俄羅斯鮋天然資源，令全球天然資源價格抬唔起頭。殊仔接手後，欲利用伊拉克鮋石油資源泛濫全球，所以2001年油價曾大跌，點知入侵伊拉克成功控制該國石油資源卻失敗，油價上升同時創新高價，推動所有天然資源價上升；再加上推出低利率政策令美元礇價回落，自然更加火上加油。由此可見，美國由邊個當總統，影響會好深遠，明年由邊個做總統呢？

追求優質生活享受

　　展望將來，中國人正由追求最基本生活需要，進入追求優質生活享受，情況有如八十年代鮋香港人。估計最少有一億五千萬中國人已擺脫貧窮，漸漸成為中產階級，此改變引發2003年內地房地產上升潮、2005年股市上升潮、內地消費熱及旅遊熱。單單鰠今年，中國將建成六百二十六幢摩天大廈，有D作商業用途，有D作住宅用途，令全球水泥、鋼鐵、銅等出現供不應求（上述仍未計基建項目需要）。

男人四十擔子最重
　　理財愈年輕開始愈好，因為本小蝕鰦亦好容易翻身；二十六歲鰟年我老曹亦曾將賺返鈬鮋五十萬元蝕掉（1974年可以買四個住宅單位），依家又如何？太早失去反而令自己學曉投資應謹慎，過去三十年我老曹再冇輸過大錢（因已學曉止蝕）。男人四十歲通常係負擔最重鮋時期（仔細老婆嫩），甚至會影響理財（因生活擔子重，但千祈唔好放棄）。進入五十歲擔子漸輕，到時理財便十分容易。你可以選擇五十五到六十五歲任何一年退休，但退休後仍須理財。有人問理財幾時開始最好？答案係二十一歲，或你離開學校進入社會做事鮋第一年。把理財視作一生一世鮋事（理財冇退休年齡）。二十一歲前心智未成熟，以儲蓄為主，令自己養成正確鮋消費態度（例如支出佔總收入80％）。二十一至三十歲宜學習理財。儲蓄與理財最重要講紀律，如果連自己鮋行為（例如讀書時拍丸仔，一定難以成功儲蓄或理財）都控制唔到，又點樣理財？另一危機係四十歲鮋男士，可能突然希望尋回青春而大搞婚外情，到時會令到自己整個理財計劃陷入危機（除非到時你已經好有米）。前人話小富由儉，粛高通脹期，勤儉作用十分有限，應改為小富由懂得理財開始。今年通貨膨脹會否再次成為無聲狗？最近債券息率已升至2004年以來新高，會否威脅股市下半年表現？過去五年，每當十年期債券孳息率升至五厘以上，股市便受壓，例如去年5月至8月。最近三個月十年期債券孳息率由四厘半升上五厘三三，今年7月股市表現又點？

內地A股已進入尋頂期

　　根據Hulbert Financial Digest研究所得，股市在大部分分析員睇淡之時表現較出色、在大部分分析員睇好之時表現較差。例如2001年2月美國睇好情緒指數達79.7％（本港亦因利率下降，市場瀰漫一片樂觀氣氛）。二十一世紀最多人睇淡係2002年10月，睇好情緒指數降至33％（本港係2003年4月）。大部分所謂投資專家，在大部分時間內都係睇錯市！不過，又唔係經常準確，例如去年11月及12月股市便在一片睇好聲中上升，個人忠告：專家意見可供參考，但不可盡信。請記住影響經濟的是政策而非專家意見。以日本九十年代經濟泡沫化為例，背後根源係廣場協定。羅浮協定後，G6聯手逼日圓升值，但日本大藏省力拒日圓升值而大量增加貨幣供應，令日本經濟捲入流動性資金陷阱的漩渦裏而不能自拔，一度令東京市房地產市值總和超過整個美國，日本銀行才驚覺問題嚴重性，急急抽緊銀根刺破這個泡沫，因而引發十三年通縮期。自2002年起，美國雖然一再要求人民幣升值，但中國仍是外礇管制國家，資金流入並不容易，流走更困難。中國人民銀行面對升值壓力主要來自外貿盈餘資金不似日本是國際熱錢。人行近年亦沒有為抗拒人民幣升值而濫發貨幣，反而一而再收緊銀根及加息；中國近年房價及股市上升，但同八十年代日本比較，內地樓價並非漲至三代人供唔起；內地A股O最高亦只有五十倍而非八十倍；2007年的中國唔係1989年的日本。股市平均O一旦高出二十二倍，便有泡沫成分，內地A股當然亦唔例外。現在內地A股估值已過高，即抵受國際衝擊能力較弱；反之，恒生指數O目前只有十五、十六倍，甚至內地A股暴跌，對恒生指數影響仍然唔大，因為在此O水平，承受國際衝擊能力十分好。內地A股現水平O有賴一、供求失衡；二、企業純利保持高增長去支持，缺一不可。近日內地大量新股上市最終必改變供求失衡因素、令內地A股回落。至於企業純利高速上升期、2007年下半年中國GDP增長率會否唔及上半年？2008年中國GDP增長率又如何？換言之，內地A股已進入尋頂期，股價早已透支了公司業績，只要一點點風吹草動，內地A股將十分麻煩，因為股價早已脫離公司業績，全賴供不應求支持，有如1997年7月前本港樓價（因每年限制賣地五十公頃令土地供應出現長期短缺，一旦供應恢復正常，樓價立即大跌）。流動性資產過剩只是周期性，一旦面對全球性抽緊，可以一天之內完全改變（例如1997年7月2日亞洲金融風暴）。特別是處於一個經濟繁榮期尾段，鬥傻遊戲中如搵唔到另一傻瓜接手，自己就係傻瓜。成功將資金變倍的投機者只佔10％，打和機會係30％，其餘60％都係輸家，即每一個贏家背後有六個輸家。

上海樓市又再火爆

上海樓市又再火爆，例如鉑金華府每平方米售價由一萬元升至一萬一千元；海上海由一萬七千元升至一萬九千元；陽城貴都由一萬元漲至一萬二千元；香港花園本周宣布每平方米再漲五百元。過去6月份係上海樓市淡季，今年卻由5月份起回暖，6月火爆；估計6月大幅加價後，7月份成交額會減少，但樓價唔會下跌。
三「C」

西方社會值得東方人學習鮋地方，主要係三「C」。第一個「C」係資本主義（capitalism），一種保障生產、貿易、產權鮋制度。由私人擁有財富可自由買賣、唔受政府干涉、容許自由競爭，係能者居之鮋制度。第二個「C」係憲法、法律或政治體制（constitution），由英國鮋君主立憲到美國大憲章、法國鮋自由民主博愛。透過立憲，政府有Ｄ事可以做，有Ｄ事不能做，因為違憲。人民之間爭拗由法律去解決，政府透過立法規限，人民有Ｄ事可以做，有Ｄ事不能做，因為違法。即政府與人民鮋關係由憲法規定，人與人之間受法律規限，政府不能違憲，人民不能違法。第三個「C」係基督精神（Christianity），即對社會鮋回饋、對窮人鮋幫助、對真理鮋追求，所以各位見到外國許多大富豪將自己大部分財富回饋社會幫助窮人，就係發揮基督精神。
中國已接受第一個C
　　1978年中國政府實施改革開放政策後，對西方社會第一個「C」（資本主義）愈來愈接受，只係美其名為「市場經濟」。但對第二個「C」即憲法、法律及政治體制鮋接受仍然唔順利，政府（尤其地方政府）往往有法不依，人與人之間講人情、講面子而少講法律，無論政府或普通人，鰠守法方面較西方社會仍差得遠。至於第三個「C」所謂基督精神似乎剛開始，中國人鮋捐錢文化仍未普及，香港係中國社會中最有基督精神鮋地方，但同西方比較仍差很遠。
　　香港欲在政制上有突破，必須中國政府漸接受第二個「C」，即政府不再違憲、人民人人守法，做個「文明政府」、做個「文明人」才可。至於第三個「C」更加難求，只有寄望我地下一代。

港人內地置業高峰近在眼前
　　據《南方日報》報道，自廣州樓市開始進入個人購房時代後，港人便成為廣州樓市置業鮋主力軍。港人鰠深圳置業數量排第一、鰠廣州排第二，佔港人內地置業 17％，近年每年約四千套房子被港人買走。香港地產中介機構2000年估計，港人鰠內地購入物業數量高達一百四十六萬至一百五十五萬個單位，2006年港人鰠內地置業投資房地產單位達到二百二十五萬至二百三十六萬個，數字極大！
　　鰠廣州置業鮋港人分四種：一、鰠廣州經商或工作，鰠假日才回港；二、退休老人，鰠廣州置業安度晚年；三、鰠香港工作，到廣州度假；四、投資客到廣州置業，博樓價攀升者。
　　換言之，今天港人鰠內地擁有鮋物業較粛香港仲要多。香港私人住宅單位不外百多萬個，在內地已多達二百二十多萬個（唔少粛香港居住公屋鮋人士亦鰠內地有物業）。香港二百四十多萬個家庭，可能90％左右鰠內地有物業（當然上述係平均數，不乏有人鰠內地擁有大量物業）？如上述數字準確，港人內地置業高峰期可能已近在眼前。

中產階級對社會影響最大
　　富有、中產與窮人之間嘅分別係，富有家庭以投資為財富主要收益來源，得失由投資成敗決定（可以係股票或係自己做生意，亦可以係物業）。中產階級主要係擁有自住物業，因此樓價升中產肥、樓價跌中產窮，甚至可以較窮人更貧窮，因為可以係負資產。窮人則係手停口停，因為儲蓄少，如獲加人工，收入上升，生活自然改善；如減人工或失業便好麻煩。換言之，三大階級因財富來源唔同，所受影響各異，但亦互為影響。今天恒生指數較1997年7月1日前高，代表有錢階級手上財產較1997年7月1日前更多。今年香港中價樓樓價唔及1997年7月1日前，代表中產階級大部分仍未復原。至於窮人，除非脫貧進入另一階級，不然過去十年則冇好過。富人投資如蝕大本，對社會經濟影響唔大，一來人數少，二來爛船總有三斤釘。如1997年7月前擁有十億元，依家只剩番一億元，亦只影響佢同佢家人嘅心情（連日常消費亦可能不變）。窮人喺現今社會受政府福利制度保障，至今已經冇餓死人呢回事。
　　對社會影響最大嘅反而係中產階級，因為佢地嘅消費係造成經濟盛衰嘅主要原因。零售業、飲食業及許多許多行業，都受佢地消費力多少所影響。2003年4 月至今薪金升幅有限，代表窮人生活改善亦有限；反之，本港樓價上升60％，則令中產家庭感覺上富有咗，佢地增加消費，即刻令社會亦立即繁榮起來。至於自由行只佔本港總消費20％，香港真正消費力仍來自中產階級。

　　1997年7月至今，香港主權回歸十年，香港已分裂成為兩個社會：甲、富人社會；乙、中產及窮人社會。來自唔同階級，心態完全唔同。例如我老曹因 1967年夏天離開學校到社會做事，香港經濟由1967至97年高潮迭起，自然認為「只要你努力，定有美好明天」；反之，1997年夏季才離開學校到社會做事嘅下一代卻告訴我老曹：任你點努力，明天都唔知會變成點。佢地一離開學校便面對亞洲金融風暴，連「做好呢份工」嘅機會都冇便失業；好唔容易撑過去，再來一次2000年科網股泡沫爆破；最後有份較穩定嘅工，希望安居樂業時，本港樓價早已上升60％又點供？點叫佢地相信「明天香港更美好」？

群眾往往睇錯市

　　上半年投資者對後市普遍淡睇，終於喺上兩周結束。上周睇好者佔56.7％（再上一周52.2％），睇淡者只佔21.1％（再上一周佔22.8％），係2005年8月以來最少人睇淡嘅一周，反而令我老曹較為擔心下半年股市（群眾往往睇錯市）。

美債息再次低於五厘
　　點樣喺沙堆中挑選鑽石？眾多細價股中，邊D係是十年後嘅思捷或利豐？Stock picker認真唔易做。喺趨勢形成時加入，响趨勢結束退出，講易過做。點樣喺市場嘅大趨勢中獲巨利、點樣逃過大崩潰？事後人人曉講，事前80％人唔知道。
　　美國十年期債券息率又再低於五厘，代表短期股市冇事。每次股市大跌前，美國十年期債券息率都喺五厘二五以上。上述係幾重要嘅訊號，只要長債息率唔高於五厘二五，資金便唔肯返回銀行做存款，金融市場便繼續有得炒。

流動性資金過剩

　　流動性資金過剩係近年流行嘅名詞（雖然此名詞由來已久）。乜嘢係流動性資金過剩？根據英國出版嘅《經濟與商業辭典》解釋，流動性資金過剩係指銀行自願或被迫把資金趕出去，即銀行再唔願吸收存款，理由係銀行吸收到嘅存款好難借番出去，因此銀行唔再積極吸收存款，反而鼓勵貸款（甚至有人利用貸款去投機亦視而不見）。從宏觀經濟角度睇，係貨幣增長率已超過GDP增長率，存款增長率大大超過貸款增長率，形成愈來愈多資金閒置响銀行。例如中國去年L增長率 16.5％，超過GDP增長率六個百分點；今年第一季L增長率更達17.3％，亦超過GDP增長六點三個百分點，出現較嚴重性流動嘅資金過剩。

　　流動性資金過剩有乜害處？一、過剩資金推動投資過熱（例如1990至97年嘅香港、1985至89年嘅日本及2004年起嘅中國），導致資產價格上升。一旦流動性資金過剩情況逆轉，又導致資產價格大幅滑落（例如1997年8月至2002年嘅香港、1990年至2003年嘅日本）。二、資源錯配、低效投資及浪費。大量資金流入股市樓市，但實體經濟卻缺乏資金支持；企業因為較容易獲得資金（透過上市或發行新股）而作出大量投資或低效益投資甚至浪費資金，並非實體經濟所需，例如內地鋼鐵業、水泥業等已出現上述問題。三、央行貨幣政策有效性及獨立性受影響。例如去年起人行連續六次加息都未見成效。四、商業銀行過度擴充貸款業務，而放大信貸風險。例如香港銀行喺物業貸款上利率一減再減，而且喺審批貸款過程中寬鬆，都在放大銀行信貸風險。五、最大害處係催生資產泡沫，大量資金由銀行湧入資產市場刺激投機氣氛，令投資者忽視金融風險加入追逐短期利潤，例如內地A股市場响年半時間上升130％。
　　解決之道：A、減少貿易順差。透過人民幣有秩序地升值、出口退稅逐步減少或取消部分產品出口退稅。B、增加消費刺激入口，經濟增長由出口帶動轉為內部消費推動；未來積極擴大進口係中國對外經濟嘅工作重點。C、解決商業銀行流動資金過剩問題，包括提高存款保證金率；人民銀行向商業銀行發債；鼓勵及支持銀行業產品創新；QDII及鼓勵資金「走出去」。D、利用家吓環境提升高科技行業補貼，淘汰低附加值、污染嚴重、耗能較高嘅行業，目的唔係減少流動資金，而係有效咁疏導資金，令資金轉為有利經濟結構嘅優化方向。今時今日才入市想撈一筆嘅投資者，小心結果變成筲箕打水（辛苦過後唔見水）。

瑞士

　　瑞士人口七百四十萬，較香港多一DD，但人均收入四萬九千六百多美元，較港人高出一倍！瑞士連海口都冇、缺乏天然資源，本土市場十分有限，唔似香港有強大中國做後盾，點解瑞士人民收入係港人鮋一倍？
瑞士鬥精不鬥平
　　1970年前瑞士仲係以工業為主，今天瑞士表雄霸全球高檔市場。瑞士生產一隻名貴手表鮋價值，可能較四部日本汽車售價更貴！加上1969年起瑞士決心做好環保，今天瑞士迷人鮋風景區，又成為國家另一重要收入來源，成為全球有銀士鮋度假場所。瑞士鮋河裏到處都係魚，加上河水清澈無污染，人們到瑞士乘船遊覽兼垂釣，晚上入住五星級酒店或到瑞士滑雪，旅遊收入成為瑞士三大收入來源之一。瑞士鮋金融服務更係少數能與美國大證券行抗衡者，佢地服務鮋對象一樣以全球有銀士為主。
　　瑞士不但手表技術愈做愈精，其他方面亦一樣，例如汽車裏面鮋氣囊口亦由瑞士製造。因為氣囊鰠乜№時候打開好重要，瑞士生產鮋氣囊口可以鰠危急關頭即時打開，冇一次出錯，因此全球風行。粛製藥、電子、冶金、化學方面，瑞士亦達到世界一流水平！瑞士職業培訓學校唔係訓練技工，而係訓練技師，畢業後可到蘇黎世聯邦理工大學繼續深造。佢地敢於創新及將產品改良，以達到最高水準，過去已產生二十一位諾貝爾獎得主（香港一個都冇也）。
　　過去三十五年瑞士走鮋路，係唔同別人鬥平，而係同別人鬥「精」。世人願花十萬美元買一隻瑞士名表；瑞士生產鮋醫藥亦係世界出名；瑞士朱古力亦非常著名；瑞士粛全球生產鮋食品（例如雀巢品牌）、瑞士金融業所提供鮋服務，都走高質素路線。反觀香港過去十年，實在令港人自己亦汗顏，除鰦金融業好DD之外，其他都一塌糊塗。未來十年深圳將大力發展金融業，到時我地仲有乜№強項？回歸十年，我地鮋成就就係興建迪士尼主題公園及昂坪360墮地吊車?!

Wells Fargo Today: Company Overview – 1st Quarter 2007

Learn about our businesses

WHO WE ARE

Wells Fargo & Company (NYSE: WFC) is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores, the Internet and other distribution channels across North America and internationally.

We're headquartered in San Francisco, but we're decentralized so every local Wells Fargo store is a headquarters for satisfying all our customers' financial needs and helping them succeed financially. Wells Fargo has $486 billion in assets and 159,000 team members across our 80+ businesses. We're one of the United States' top-40 largest private employers. We ranked fifth in assets and fifth in market value of our stock among our peers as of March 31, 2007.

Our vision: satisfy all our customers' financial needs, help them succeed financially, be known as one of America's great companies and the number-one financial services provider in each of our markets.

Reputation

FORTUNE
Ranked 41st in revenue among all companies in all industries
World's 19th most profitable company

Barron's
Ranked 12th most admired company in the world

CRO magazine (Corp Responsibility Officer
Ranked top 50 corporate citizen

BusinessWeek
Among top 25 Best Places to Launch a Career

Forbes
Ranked nation's 5th most Generous Corporate Foundation

Moody's
“Aaa” credit-rated U.S. bank

Standard & Poor's
Ratings Services
Only bank in the U.S. to be rated “AAA”

U.S. Environmental Protection Agency
No. 1 Purchaser of Renewable Energy in the U.S.

Diversity Inc.
Among top 20 companies in all industries for diversity

Mergent, Inc.
“Dividend Achiever” (publicly-traded companies that increased dividends for last 10+ consecutive years; Wells Fargo has increased dividends for 18 consecutive years; 23 increases since 1988)

LATINA Style
Among top 50 U.S. companies for Latinas

Points of Light
Foundation
Excellence in Workplace Volunteer Programs

Working Mother
Magazine
Among 100 best companies for working mothers

Mortgage Bankers Association
#2 largest U.S. Commercial Real Estate by Volume

Essence magazine
Top 25 Great Places to Work for African American Women

CIO
CIO 100 Winner for Wholesale Internet and Treasury Solutions

KeyNote
WebExcellence
Wells Fargo Mortgage Web site ranked #1 for Ease of Use and Privacy/Security

KEY FACTS (3/31/07)
INDUSTRY RANKINGS

Assets
$486 billion
Retail banking cross-sell
#1

Full-time team Members
159,000
Small business lender
#1

Stores
6,027
Agricultural lending
#1

ATMs
6,800
Cross-channel customer experience
#1

Market value of stock
$117 billion
Insurance brokerage sales*
#1

Retail home mortgage lender
#1

*Wells Fargo owns the largest bank-affiliated insurance broker.

DIVERSITY OF BUSINESSES *

Our diversity of business lines makes us much more than a bank. We're a diversified financial services company. Our diversity helps us weather downturns that inevitably affect any one segment of our industry.
* Based on historic averages and near future year expectations

POWERFUL DISTRIBUTION

• #1 in total stores (6,027 stores)
• #3 in banking stores (3,230 stores in 23 states)
• #1 in mortgage stores (presence in more than 2,400 stores)
• Supermarket stores (598 stores)
• Consumer Finance (1,150 stores)
• Nation's first bank to provide online account access
• #1 personal credit market share in Wells Fargo's banking states
• One of nation's largest telephone banking networks (20 million calls monthly)
• #3 branded bank ATM owner (6,800 ATMs)
• #2 debit card issuer
• #1 prime home-equity lender in Wells Fargo's banking states
• Among the nation’s top-20 mutual fund companies

The Vision & Values of Wells Fargo

Our product: SERVICE. Our value-added: FINANCIAL ADVICE. Our competitive advantage: OUR PEOPLE

by Richard M. Kovacevich

Chairman and Chief Executive Officer

The "Next Stage" : Going from Good to Great

This is about the “Next Stage” for you and our company. It’s about who we are, where we’re headed and about how you—as a valued Wells Fargo team member—can help us get there and share in our collective success.

We are a big company. We’re the largest financial institution headquartered in the western U.S. We span all of North America. Our stock market value exceeds $110 billion. Forbes ranks us as the world’s 26th leading company based on a composite of sales, assets, profits and market value. We’re in the top 20 among all U.S. companies in profits and market value. We’re one of America’s 40 largest private employers, with more than 155,000 team members. We’ll continue to grow—not to become bigger but as a result of getting better.

Regardless of how big we are and how much territory we cover, we share, as one team, certain values that hold us together wherever we are and whatever we do. It doesn’t matter what our responsibilities are, our levels or titles, what businesses we’re part of, or where we live and work. We all should know our vision. We all should know how we contribute to achieving that vision. We all should be passionate about our values and share them with others. We believe everyone on our team is important and deserves respect. We believe everyone contributes to Wells Fargo being known as one of America’s great companies.

Security Policy

Why security is important

Security, quite simply, protects the confidentiality of your financial information and prevents theft of your assets. There is nothing more important to us and our customers than knowing that Internet Banking transactions are private and secure. Our system's sophisticated security architecture keeps unauthorized users from accessing any of your financial information through the Internet.

Internet security overview

One of the basic tools used to ensure Internet security is encryption. Encryption happens as follows: When you go to the sign-on page for online banking, your browser establishes a secure session with our server. The secure session is established using a protocol called Secure Sockets Layer (SSL) Encryption. This protocol requires the exchange of what are called public and private keys. Keys are random numbers chosen for that session and are only known between your browser and our server. After the keys are exchanged, your browser will use the numbers to scramble (encrypt) the messages sent between your browser and our server. Both sides require the keys because they need to de-scramble (decrypt) the messages when they are received. The SSL protocol not only ensures privacy, but also ensures that no other browser can "impersonate" your browser, nor alter any of the information sent. You can tell whether your browser is in secure mode by looking for the secured lock symbol at the bottom of your browser window. The numbers used as encryption keys are analogous to combination locks. The strength of encryption is based on the number of possible combinations that a lock can have. As the number of possible combinations grows, it becomes less likely that anyone would be able to guess the combination in order to decrypt the message. Current versions of today's browsers offer 128-bit encryption, which results in 2128 possible combinations. Older browser versions may only offer 40-bit encryption, which we feel is not sufficient in today's world of sophisticated technology. Our servers require the use of 128-bit capable browsers.

It is also important to verify that only authorized users log into the online banking system. We use password verification to ensure user authorization. When you submit your password, it is compared with the password we have encrypted and stored in our secure data center. We limit the number of times you can enter your password incorrectly. We monitor and record "bad-login" attempts to detect any suspicious activity (i.e., someone trying to guess your password). You play a crucial role in preventing others from logging on to your account. Never use passwords that are easy to guess. Examples of bad passwords are: birth dates, first names, pet names, addresses, phone numbers, social security numbers, etc. Never reveal your password to another person. You should periodically change your password while logged in to our online banking system.

We also "time out" an Internet Banking session after a specified period of inactivity. This keeps others from viewing or continuing Internet Banking activity if you leave your PC unattended. However, we recommend that you always sign off (log out) when you have finished your online banking.

All systems are secured with multiple layers of encryption, firewalls, screening, and filtering routers.

All sensitive data is protected from direct access from the Internet.

The following measures are employed:

• Secure Sockets Layer (SSL) Encryption provides a secure channel for data transmission across computer networks using public key cryptography.
  
• For added security, we maintain Strong Password Requirements, meaning we require one letter, one numeric character, and a longer password of 7 - 16 characters.
  
• Firewalls and Redundant Screening/Filtering Routers are gateways that verify the source, destination, and protocol of each data packet before it is sent.
  
• Security procedures are audited by a Certified Public Accounting firm on an annual basis. Federal Bank examiners review the results of this audit. In addition, an independent security firm routinely performs penetration and security testing on Internet Banking systems.
  

Electronic Mail

Messages sent by e-mail may not be secured, may be intercepted by third parties and may not be immediately received by the appropriate department at Bank of San Francisco. Please do not use e-mail to send us communications that contain confidential information, which we require in writing or which need our immediate attention. Please call us instead at 415-744-6700. Be aware that a "receipt" acknowledgment on an e-mail message means only that the message has routed into the Internet, not that the message has been received by Bank of San Francisco. Upon receipt, the bank will respond to your message within one business day.

Web Site Links

The links in this web site will let the user leave Bank of San Francisco's site. The linked sites are not under the control of Bank of San Francisco, and Bank of San Francisco IS NOT RESPONSIBLE FOR THE CONTENT AVAILABLE ON OTHER INTERNET SITES. These links are provided as a convenience to users. Access to any other Internet sites linked to this web site is at the user's own risk. The inclusion of any link does not imply a recommendation or endorsement by Bank of San Francisco of the linked site.

About "cookies"

Cookies are commonly used on web sites and do not harm your system. By configuring your preferences or options in your browser, you determine if and how a cookie will be accepted. We use cookies on our Internet Banking system to display information more effectively to you.

源文档 <http://www.bankofsf.com/security.html>

Cash management

Cash
management

From Wikipedia, the free encyclopedia

Jump to: navigation, search

In United States banking, cash
management, or treasury management, is a marketing term for certain services offered primarily to larger business customers. It may be used to describe all bank accounts (such as checking accounts) provided to businesses of a certain size, but it is more often used to describe specific services such as cash concentration, zero balance accounting, and automated clearing house facilities. Sometimes private bank customers are given cash
management services.

[edit] Cash
Management Services Generally offered

The following is a list of services generally offered by banks and utilised by larger businesses and corporations:

• Account Reconcilement Services: Balancing a checkbook can be a difficult process for a very large business, since it issues so many checks it can take a lot of human monitoring to understand which checks have not cleared and therefore what the company's true balance is. To get around this, banks have developed a system which allows companies to upload a list of all the checks that they issue on a daily basis, so that at the end of the month the bank statement will show not only which checks have cleared, but also which have not. More recently, banks have used this system to prevent checks from being fraudulently cashed if they are not on the list, a process known as positive pay.
  
• Advanced Web Services: Most banks have an Internet-based system which is more advanced than the one available to consumers. This enables managers to create and authorize special internal logon credentials, allowing employees to send wires and access other cash
  management features normally not found on the consumer web site.
  
• Armored Car Services: Large retailers who collect a great deal of cash may have the bank pick this cash up via an armored car company, instead of employees depositing the cash.
  
• Automated Clearing House: services are usually offered by the cash
  management division of a bank. The Automated Clearing House is an electronic system used to transfer funds between banks. Companies use this to pay others, especially employees (this is how direct deposit works). Certain companies also use it to collect funds from customers (this is generally how automatic payment plans work). This system is the subject of the ire of some consumer groups, because under this system all banks assume that the company initiating the debit is correct until proven otherwise.
  
• Balance Reporting Services: Corporate clients who actively manage their cash balances usually subscribe to secure web-based reporting of their account and transaction information at their lead bank. These sophisticated compilations of banking activity may include balances in foreign currencies, as well as those at other banks. They include information on cash postitions as well as 'float' (e.g., checks in the process of collection). Finally, they offer transaction-specific details on all forms of payment activity, including deposits, checks, wire transfers, ACH (automated clearinghouse debits and credits), investments, etc.
  
• Cash Concentration Services: Large or national chain retailers often are in areas where their primary bank does not have branches. Therefore, they open bank accounts at various local banks in the area. To prevent funds in these accounts from being idle and not earning sufficient interest, many of these companies have an agreement set with their primary bank, whereby their primary bank uses the Automated Clearing House to electronically "pull" the money from these banks into a single interest-bearing bank account.
  
• Lockbox services: Often companies (such as utilities) which receive a large number of payments via checks in the mail have the bank set up a post office box for them, open their mail, and deposit any checks found. This is referred to as a "lockbox" service.
  
• Positive Pay: Positive pay is a service whereby the company electronically shares its check register of all written checks with the bank. The bank therefore will only pay checks listed in that register, with exactly the same specifications as listed in the register (amount, payee, serial number, etc.). This system dramatically reduces check fraud.
  
• Sweep Accounts: are typically offered by the cash
  management division of a bank. Under this system, excess funds from a company's bank accounts are automatically moved into a money market mutual fund overnight, and then moved back the next morning. This allows them to earn interest overnight. This is the primary use of money market mutual funds.
  
• Zero Balance Accounting: can be thought of as somewhat of a hack. Companies with large numbers of stores or locations can very often be confused if all those stores are depositing into a single bank account. Traditionally, it would be impossible to know which deposits were from which stores, without seeking to view images of those deposits. To help this problem, banks developed a system where each store is given their own bank account, but all the money deposited into the store account is automatically moved into the company's main bank account. This allows the company to look at individual statements for each store. US Banks at the present time, however, are almost all converting their systems so that companies can tell which store made a particular deposit, even if these deposits are all being done into one account. Therefore, zero balance accounting is being used less frequently.
  
• Wire Transfer: A wire transfer is an electronic transfer of funds. Wire transfers can be done by a simple bank account transfer, or by a transfer of cash at a cash office. Bank wire transfers are often the most expedient method for transferring funds between bank accounts. A bank wire transfer is a message to the receiving bank requesting them to effect payment in accordance with the instructions given. The message also includes settlement instructions. The actual wire transfer itself is virtually instantaneous, requiring no longer for transmission than a telephone call.
  

In the past, other services have been offered the usefulness of which has diminished with the rise of the Internet. For example, companies could have daily faxes of their most recent transactions or be sent CD-ROMs of images of their cashed checks.

源文档 <http://72.14.235.104/search?q=cache:nRLKoiHkxWUJ:en.wikipedia.org/wiki/Cash_management+Cash+Management&hl=zh-CN&newwindow=1&strip=1>

PUBLIC TRANSPORTATION SYSTEMS

PUBLIC TRANSPORTATION SYSTEMS

Comprehensive information about public transportation in the San Francisco Bay Area is available at http://www.transitinfo.org/. The main transit systems are:

• UC Campus Shuttles (http://public-safety.berkeley.edu/p&t/transit.html) run around the Berkeley campus and local neighborhood throughout the day and night. These cost 25 cents a ride, or are free with the student Universal Class Pass (see below). The convenient "Perimeter Shuttle" circles the campus every 12 minutes during the day, stopping in downtown Berkeley (in front of Bank of America on Shattuck Ave.) and includes a stop right in front of International House.
  
• Alameda-Contra Costa Transit or AC Transit (510-817-1717 ext. 1111 or 510-477-0192, http://www.actransit.org) operates buses in the East Bay and to San Francisco's Transbay Terminal in the San Francisco Financial District. Riding an AC Transit bus requires exact fare.
  
• Bay Area Rapid Transit or BART (510-465-2278, http://www.bart.gov) is our local subway system, with trains running throughout the East Bay and through San Francisco. The fare depends on how far you ride. For information and hours of operation check the website or pick up the schedule at any BART station.
  
• The Municipal Railway or MUNI (415-673-6864, http://sfmuni.com) in San Francisco operates buses, trolleys, and cable cars throughout that city. You can purchase a MUNI map at San Francisco bookstores. Check the website or check the map in the front of the San Francisco phone book "Yellow Pages".
  
• Other transportation systems serve the areas north and south of San Francisco. See below for other transit information, including buses, trains and ferries.
  

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UNIVERSAL CLASS PASS

This pass, available only to registered UC Berkeley students, allows free, unlimited rides on AC Transit (including to San Francisco) and on the UC campus shuttle system. Just show the bus driver your Cal Photo ID with the Class Pass sticker. You can apply for the sticker online at http://public-safety.berkeley.edu/p&t/ and it will be mailed to you, or check the website for picking it up during the first week of each semester.

 
 

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TRANSIT INFORMATION

The Berkeley TRIP store (510-643-7665, http://public-safety.berkeley.edu/trip/) is the campus center for transportation information, discount tickets, and helpful advice. They are located at 2033 Center Street near Shattuck, Tuesday through Friday 12:00 noon to 5:30 p.m., closed Mondays, and at their Satellite Berkeley TRIP Office at 2543 Channing Way (within UC Berkeley's Parking and Transportation Permit Services Unit) open Monday through Friday from 9:00 a.m. to 2:00 p.m.

 
 

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BICYCLES

Rolling Through Berkeley published by the UC Police Department, has helpful information about all aspects of bike ownership. Information is also available at: http://public-safety.berkeley.edu/trip/bike.html. All bicycles in Berkeley must be registered. Registration is done by the Campus Police Department at the Bike Bureau located at 2427 Dwight Way. Call 642-4936 for times and fees for bike registration. Bicycle theft is common! Always lock your bike with a heavy-duty "U" shaped lock (recommended brands: Citadel, Kryptonite). The website has information about getting a $15 discount on a "U" lock. Bicycles are subject to the rules and regulations of the California Vehicle Code; obey stop signs and red lights, and signal properly when making turns, or you may be ticketed by the police. Be smart--ride defensively, wear a helmet and be aware that most drivers are "blind" to cyclists

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SCOOTERS, MOPEDS, AND MOTORCYCLES

Many students use these because they are cheaper to purchase and operate than cars, easier to park, and quicker than bicycles. Scooters, however cannot be taken on the freeways. Look in the yellow pages of the phone book under "Motorcycles" for dealers who sell both new and used scooters, mopeds and motorcycles. Also check the classified ads in local newspapers. Contact the Department of Motor Vehicles for information about registration and the license needed to drive a particular vehicle. Helmets are required (and smart) for anyone riding a scooter, moped, or motorcycle.

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TRANSPORTATION FOR SIGHTSEEING IN THE BAY AREA

There is public transportation to areas of tourist and recreational interest. Check the main Bay Area transit website (http://www.transitinfo.org/) or contact Berkeley TRIP for guidance about accessing places of interest. For instance, Golden Gate Transit (GGT: www.goldengate.org) has bus service to Marin County and Sonoma counties from San Francisco and the Richmond or El Cerrito Del Norte BART stations, and they have buses to Stinson Beach and Point Reyes.

 
 

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FERRIES

Ferry boat travel is a great way to see the beautiful San Francisco Bay and to travel to recreational destinations in the Bay Area. Many of the fares are comparable to bus or BART fares.

• Alameda-Oakland Ferry (510-522-3300, http://www.eastbayferry.com) operates between Oakland and San Francisco, Alameda and San Francisco, with trips to Angel Island and Pac Bell Park Stadium.
  
• The Red and White Fleet (415-673-2900, http://www.redandwhite.com) has ferries for Bay cruises, ferries from Richmond to SF and to PacBell Park Stadium.
  
• Blue and Gold Fleet (415-705-5555, http://www.telesails.com) offers narrated bay tours from San Francisco, and has ferries travelling to Oakland, Alameda, Sausalito, Angel Island, Vallejo and Tiburon.
  
• Golden Gate Ferry (415-923-2000, http://www.goldengateferry.org) has ferry service from SF to Larkspur and SF to Sausalito.
  

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TRAINS/LONG DISTANCE BUSES

• Caltrain/SAMTRANS ((800-660-4287, http://www.caltrain.com, http://www.samtrans.com/samtrans) is a commuter train that runs from San Francisco to San Jose, stopping at many cities along the way.
  
• AMTRAK--(800-872-7245, http://www.amtrak.com) is the train service that operates across the United States, including many cities within California. They have some low cost special fares to certain destinations.
  
• Greyhound--(800-229-9424, http://www.greyhound.com) buses go throughout California and the United States from Oakland or San Francisco.
  

There are also private bus firms that travel to tourist destinations in the Bay Area, California and out-of-state. Check the internet or yellow pages under "Buses, Charter."

 
 

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RENTING A CAR

Check the phonebook Yellow Pages for "Automobile, Rentals." Many rental agencies offer a better price for a full week's rental; also, be sure to ask about any mileage restrictions or costs. Some common restrictions found among car rental agencies include not renting to customers under 25 years old, or without some type of credit card. Be sure to inform the agency if you plan to drive into Mexico or Canada about. If you are here as a tourist, you can drive using an International Drivers License, but you should ask the rental agencies about any restrictions.

 
 

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TAXIS

Private taxi service is available in any city from several companies listed in the phone book yellow pages. Taxis are the most expensive form of transportation, but can be reasonable and convenient if there is a small group. Taxi drivers are generally tipped 10-15% of the fare.

 
 

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A WORD ABOUT HITCHHIKING: DON'T!

Unlike many countries of the world, hitchhiking is generally not safe in the United States. A safer and inexpensive alternative for traveling by car might be to share the cost of a rental with several friends, or check student bulletin boards for people wanting riders to share gas costs/driving to specific destinations.

 
 

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源文档 <http://ias.berkeley.edu/siss/practicalinfo/bikesetc.htm>

 
 

Money and Banking

University of California, Berkeley

Services for International Students and Scholars

Money and Banking

Practical information | SISS

BANKING

There are two basic kinds of accounts: checking accounts, for payment of regular bills and shopping needs; and savings accounts where money you do not need to use immediately can earn interest. Banks also offer a variety of other types of accounts and financial services.

 
 

Before you open an account at a bank, be sure to visit several banks to compare their services and fees. Most will be similar, but there can be important differences. To open a bank account is fairly easy; deposit your funds and complete any required bank forms. (Be aware that if you are making a deposit with an overseas check or bank draft, you may have to wait three days to three weeks before your money will be available to you.) Some banks will want you to have a Social Security Number when you open the account. SISS has information about how to get a number or alternatives.

 
 

Checking accounts. When opening a checking account, be sure to ask about different types of checking accounts. All banks have several kinds of accounts and most have checking accounts which accrue interest if a minimum balance is maintained. Be sure to look at the account fees and when they may be charged. After opening an account you will be given a book of temporary checks, but you should order checks with your name and local address printed on them. Most businesses will only accept a check that has the printed information.

 
 

Writing a check: Checks should be filled out at the time you are making a payment. Fill in all blank spaces on your check. The amount should be written numerically and in longhand. Draw a line through any unused blank spaces. Never sign a check before you are ready to use it, since it can be cashed as soon as your signature is on it. Most merchants will require that you show one or two pieces of photo ID to accept your check. These can be a California Driver's License or Identity Card, a passport, or other official ID. Merchants near campus will also accept a UC student photo ID card.

 
 

Savings accounts. Savings accounts, which earn interest on the balance, are available at all banks. If you have larger sums of money which you do not need for your routine living expenses, a savings account is a safe way to keep it. Certificates of Deposit (CDs) earn higher rates of interest than regular savings accounts, but your funds must remain on deposit for a designated period of time. An early withdrawal from a CD will incur a penalty fee. Check with each bank to compare their special services and their interest rates.

 
 

Deposits. Deposits to your accounts can be made with a bank teller or at an ATM. It is best to use a deposit slip when making a deposit (pre-printed from your bank or a filled out slip). Always use a deposit slip if depositing cash. To deposit a check made out to you, you must first "endorse" or sign the check on the back. You should also print "For Deposit Only" and your account number after your signature. After you endorse a check, it is as good as cash and can be used by anyone unless you have added the deposit notation and account number.

 
 

ATM (Automated Teller Machine) Cards/Debit Cards. An ATM card is used for two purposes: as a banking tool to access your bank accounts and as a debit card. Most cards can be used at any ATM anywhere, and can be used for purchases. Many businesses now accept debit cards for payment. A debit card works very much like a check because it takes money directly out of your bank account to make a payment. Note that some banks have fees for the debit use of a card and if an ATM at another bank is used.

 
 

When you open an account at a bank, you will be issued an ATM card (the card will come in the mail). The card is directly linked to your bank accounts. At the bank, you must think of a Personal Identification Number (PIN) to be linked to your ATM card. Use a PIN that is easy to remember. Never write your PIN down, and never give or tell your PIN to anyone -ever-, not even to a bank employee. When using an ATM be sure that no one sees your PIN. If your ATM card is ever lost or stolen, notify your bank immediately.

 
 

Record-keeping. Always keep good records of any transactions made on your bank accounts. Be sure to record all transactions in your account register. Keep all deposit and ATM receipts until you receive your monthly statement. Avoid overdrawing your account. If you write a "bad check", it will be returned to you and you will be charged large fees from your bank and the person or business to which you wrote the check (their bank may charge a fee too!). Some banks offer "overdraft protection" which will transfer funds from your other accounts to cover your check, but you will still be charged an extra fee, although smaller than the fee for a bad check.

 
 

Each month you will receive a statement from your bank for each account you hold. The statement will include your past balance, new balance on the date of the statement, a list of all transactions on your account in the month, and any fees or interest earned. You should always "balance" your statement with your own records to be sure that they agree and to record any fees or interest for that month. By balancing your accounts each month, you can prevent unpleasant surprises in the future. After you have balanced your accounts, you can throw away past receipts, but always keep your statements.

 
 

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LOCAL BANKS

• Bank of America, http://www.bankamerica.com, 2129 Shattuck Ave. or 2347 Telegraph Ave., (510) 649-6600, (510) 273-5210
  
• California Federal (CalFed), http://www.calfed.com, 2000 Shattuck Ave., (800) 843-2265
  
• Citibank, http://www.citibank.com, 2323 Shattuck Ave., (510) 843-0600, (800) 756-7047
  
• CSE Credit Union #9, http://www.calstate9.com, 2033 Shattuck Ave., (510) 849-2270, (800) 292-3966
  
• Mechanics Bank, http://www.mechbank.com, 2301 Shattuck Ave., (800) 797-6324, (510) 647-0720
  
• Union Bank, http://www.uboc.com, 2333 Shattuck Ave., (510) 843-6353
  
• Washington Mutual, http://www.wamu.com, 2150 Shattuck Ave., (800) 788-7000, (510) 649-4041
  
• Wells Fargo Bank, http://www.wellsfargo.com, 2144 Shattuck Ave., (510) 464-2115, (800) 869-3557
  

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CREDIT CARDS

Establishing credit and getting a credit card can be difficult if you are new to the U.S. You may be able to get a credit card through your home country bank, your local bank, or through other banks. If you are not able to get a regular credit card, you may be able to get a "secured" credit card which is backed by a deposit. With any kind of credit card, you should always read any information or disclosures so that you fully understand the conditions and fees you agree to when you use the card. If your credit card is ever lost or stolen, notify your bank immediately. Most people only need one or two credit cards. However, many large businesses or stores also offer their own credit cards. Be careful of high fees or special conditions with these cards.

 
 

The cost of credit can be very high. Do your best to avoid interest charges by paying your credit card bill in full by the due date. A "cash advance" will usually be charged fees and/or interest immediately without the usual grace period. When making a purchase by phone, always make your order from written materials. Never give your credit card number to anyone who calls you. As with your banking, keep all receipts and records of your credit card transactions. When you receive your monthly statement, you should balance it just as you would with your bank statement. Keep your statements.

 
 

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A FEW MONEY MANAGEMENT TIPS

• Make a budget and stick with it. Be realistic when making your budget.
  
• Keep track of your income and expenses, and all of your banking transactions. Balance your statements.
  
• Use credit responsibly. Credit is expensive. If you don't already have the money in the bank, you can't afford it.
  
• Don't carry large amounts of cash.
  
• Never give a credit card number, or any bank or ID information to someone who calls you.
  

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Have questions? Email SISS.

Practical information | SISS

 
 

源文档 <http://ias.berkeley.edu/siss/practicalinfo/banking.htm>

 
 

33 Rules to Boost Your Productivity

May 1st, 2007 by Steve Pavlina

 

Heuristics are rules intended to help you solve problems.  When a problem is large or complex, and the optimal solution is unclear, applying a heuristic allows you to begin making progress towards a solution even though you can't visualize the entire path from your starting point.

Suppose your goal is to climb to the peak of a mountain, but there's no trail to follow.  An example of a heuristic would be:  Head directly towards the peak until you reach an obstacle you can't cross.  Whenever you reach such an obstacle, follow it around to the right until you're able to head towards the peak once again.  This isn't the most intelligent or comprehensive heuristic, but in many cases it will work just fine, and you'll eventually reach the peak.

Heuristics don't guarantee you'll find the optimal solution, nor do they generally guarantee a solution at all.  But they do a good enough job of solving certain types of problems to be useful.  Their strength is that they break the deadlock of indecision and get you into action.  As you take action you begin to explore the solution space, which deepens your understanding of the problem.  As you gain knowledge about the problem, you can make course corrections along the way, gradually improving your chances of finding a solution.  If you try to solve a problem you don't initially know how to solve, you'll often figure out a solution as you go, one you never could have imagined until you started moving.  This is especially true with creative work such as software development.  Often you don't even know exactly what you're trying to build until you start building it.

Heuristics have many practical applications, and one of my favorite areas of application is personal productivity.  Productivity heuristics are behavioral rules (some general, some situation-specific) that can help us get things done more efficiently.  Here are some of my favorites:

• Nuke it!  The most efficient way to get through a task is to delete it.  If it doesn't need to be done, get it off your to do list.
  
• Daily goals.  Without a clear focus, it's too easy to succumb to
  distractions.  Set targets for each day in advance.  Decide what you'll do; then do it.
  
• Worst first.  To defeat procrastination learn to tackle your most unpleasant task first thing in the morning instead of delaying it until later in the day.  This small victory will set the tone for a very productive day.
  
• Peak times.  Identify your peak cycles of productivity, and schedule your most important tasks for those times.  Work on minor tasks during your non-peak times.
  
• No-comm zones.  Allocate uninterruptible blocks of time for solo work where you must concentrate.  Schedule light, interruptible tasks for your open-comm periods and more challenging projects for your no-comm periods.
  
• Mini-milestones.  When you begin a task, identify the target you must reach before you can stop working.  For example, when working on a book, you could decide not to get up until you've written at least 1000 words.  Hit your target no matter what.
  
• Timeboxing.  Give yourself a fixed time period, like 30 minutes, to make a dent in a task.  Don't worry about how far you get.  Just put in the time.  See Timeboxing for more.
  
• Batching.  Batch similar tasks like phone calls or errands into a single chunk, and knock them off in a single session.
  
• Early bird.  Get up early in the morning, like at 5am, and go straight to work on your most important task.  You can often get more done before 8am than most people do in a day.
  
• Cone of silence.  Take a laptop with no network or WiFi access, and go to a place where you can work flat out without distractions, such as a library, park, coffee house, or your own backyard.  Leave your comm gadgets behind.
  
• Tempo.  Deliberately pick up the pace, and try to move a little faster than usual.  Speak faster.  Walk faster.  Type faster.  Read faster.  Go home sooner.
  
• Relaxify.  Reduce stress by cultivating a relaxing, clutter-free workspace.  See 10 Ways to Relaxify Your Workspace.
  
• Agendas.  Provide clear written agendas to meeting participants in advance.  This greatly improves meeting focus and efficiency.  You can use it for phone calls too.
  
• Pareto.  The Pareto principle is the 80-20 rule, which states that 80% of the value of a task comes from 20% of the effort.  Focus your energy on that critical 20%, and don't overengineer the non-critical 80%.
  
• Ready-fire-aim.  Bust procrastination by taking action immediately after setting a goal, even if the action isn't perfectly planned.  You can always adjust course along the way.
  
• Minuteman.  Once you have the information you need to make a decision, start a timer and give yourself just 60 seconds to make the actual decision.  Take a whole minute to vacillate and second-guess yourself all you want, but come out the other end with a clear choice.  Once your decision is made, take some kind of action to set it in motion.
  
• Deadline.  Set a deadline for task completion, and use it as a focal point to stay on track.
  
• Promise.  Tell others of your commitments, since they'll help hold you accountable.
  
• Punctuality.  Whatever it takes, show up on time.  Arrive early.
  
• Gap reading.  Use reading to fill in those odd periods like waiting for an appointment, standing in line, or while the coffee is brewing.  If you're a male, you can even read an article while shaving (preferably with an electric razor).  That's 365 articles a year.
  
• Resonance.  Visualize your goal as already accomplished.  Put yourself into a state of actually being there.  Make it real in your mind, and you'll soon see it in your reality.
  
• Glittering prizes.  Give yourself frequent rewards for achievement.  See a movie, book a professional massage, or spend a day at an amusement park.
  
• Quad 2.  Separate the truly important tasks from the merely urgent.  Allocate blocks of time to work on the critical Quadrant 2 tasks, those which are important but rarely urgent, such as physical exercise, writing a book, and finding a relationship partner.
  
• Continuum.  At the end of your workday, identify the first task you'll work on the next day, and set out the materials in advance.  The next day begin working on that task immediately.
  
• Slice and dice.  Break complex projects into smaller, well-defined tasks.  Focus on completing just one of those tasks.
  
• Single-handling.  Once you begin a task, stick with it until it's 100% complete.  Don't switch tasks in the middle.  When distractions come up, jot them down to be dealt with later.
  
• Randomize.  Pick a totally random piece of a larger project, and complete it.  Pay one random bill.  Make one phone call.  Write page 42 of your book.
  
• Insanely bad.  Defeat perfectionism by completing your task in an intentionally terrible fashion, knowing you need never share the results with anyone.  Write a blog post about the taste of salt, design a hideously dysfunctional web site, or create a business plan that guarantees a first-year bankruptcy.  With a truly horrendous first draft, there's nowhere to go but up.
  
• 30 days.  Identify a new habit you'd like to form, and commit to sticking with it for just 30 days.  A temporary commitment is much easier to keep than a permanent one.  See 30 Days to Success for details.
  
• Delegate.  Convince someone else to do it for you.
  
• Cross-pollination.  Sign up for martial arts, start a blog, or join an improv group.  You'll often encounter ideas in one field that can boost your performance in another.
  
• Intuition.  Go with your gut instinct.  It's probably right.
  
• Optimization.  Identify the processes you use most often, and write them down step-by-step.  Refactor them on paper for greater efficiency.  Then implement and test your improved processes.  Sometimes we just can't see what's right in front of us until we examine it under a microscope.
  

 
 

源文档 <http://www.stevepavlina.com/blog/2007/05/33-rules-to-boost-your-productivity/>

 
 

Room Color and How it Affects your Mood

Published April 17th, 2007 in Tips & Tricks

Intro

While most of us may not spend a lot of time thinking about color, it affects every day of our lives. Color can influence our mood and our thoughts. Colors affect people in many ways, depending upon one's age, gender, ethnic background or local climate. Certain colors or groups of colors tend to get a similar reaction from most people - the overall difference being in the shade or tones used. So it's important to choose wisely.

To have a beautiful home, you do not have to worry about trends. Color trends will come and go. The people who live in a home make it beautiful by choosing colors that reflect their likes and their personalities. The trick is to blend those colors you like into a pleasing combination. Choosing color combinations is one of the most intimidating steps for beginners. Color has the power to change the shape and size of furnishings as well as the shape and size of the room itself.

Selecting colors is not difficult if you equip yourself with some basic information about color and its effects, so let's find more about room colors, and how these affect your mood.

Let's begin …

When selecting color for a room, keep in mind that each color has a psychological value. Think about how those colors make you feel. The main color of your room can have an effect on your mood. These colors can make you feel anything from tranquil to rage. So when trying to create peace and harmony in your home choose your colors wisely. Some colors in large amounts will have just the opposite affect on you and your loved ones' moods.

What mood do you want to create? Which colors will help you achieve that mood?

Find clear answers to these questions. If you find this task quite difficult try to look at magazines, decorating books, blogs and websites for ideas, or let your fabric be your guide. In fact, this is a good approach to take even if you're starting from scratch. Fabric, carpeting, furniture and tile are available in a more limited range of colors than is paint, so choose them first and then decide on your paint color. Once you've found what you where searching for limit the number of colors in a room to no more than three or four. Too many colors can make a room look busy or cluttered.

Paint is a fairly inexpensive and transforms a room more quickly than anything else you can do so you can afford to experiment a little.

Room Colors

Understand that colors behave in three basic ways : active, passive, and neutral , and you can easily match every room's colors to your personal desires and taste and to the room's purpose. Light colors are expansive and airy, they make rooms seem larger and brighter. Dark colors are sophisticated and warm; they give large rooms a more intimate appearance.

Now let's find more about some colors.

Red raises a room's energy level. It's a good choice when you want to stir up excitement, particularly at night. In the living room or dining room, red draws people together and stimulates conversation. In an entryway, it creates a strong first impression. Red has been shown to raise blood pressure, speed respiration and heart rate. It is usually considered too stimulating for bedrooms, but if you're only in the room after dark, you'll be seeing it mostly by lamplight, when the color will appear muted, rich, and elegant. Red, the most intense, pumps the adrenaline like no other hue.

Crimson can make some people feel irritable. With red invoking feels of rage and hostility is a color that should be avoided as the main color of a room. Sitting for long periods of time in a room this color will likely breakdown any peace and harmony you are striving to create in your home. Ancient cultures used the color red to stimulate the body and mind and to increase circulation.

Yellow captures the joy of sunshine and communicates happiness. It's perfect for kitchens, dining rooms, and bathrooms, where happy color is energizing and uplifting. In halls, entries, and small spaces, yellow can feel expansive and welcoming.Yellow although is a cheery color is not a good choice in main color schemes of a room. People are more likely to lose their tempers in a yellow room. Babies also seem to cry more in a yellow room. This color tends to create feeling of frustration and anger in people. This color is the most fatiguing on the eyes.In chromotherapy yellow was believed to stimulate the nerves and purify the body.

Blue brings down blood pressure and slows respiration and heart rate. That's why it's considered calming, relaxing, and serene, and is often recommended for bedrooms and bathrooms. Be careful, however: A pastel blue that looks pretty on the paint chip can come across as unpleasantly chilly when it's on the walls and furnishings, especially in a room that receives little natural light. If you opt for a light blue as the primary color in a room, balance it with warm hues in the furnishings and fabrics.

To encourage relaxation in the rooms where people gather family rooms, living rooms, large kitchens consider warmer blues, such as periwinkle, or bright blues, such as cerulean or turquoise. Blue is known to have a calming effect when used as the main color of a room. When going with blue go for softer shades of blue. Dark blue has the opposite effect. Dark blue evokes feels of sadness. So refrain from using darker blues in your main color scheme. Stay with the lighter shades of blue to give you and your loved ones a calm effect.

Green is considered the most restful color for the eye. Combining the refreshing quality of blue and the cheerfulness of yellow, green is suited to almost any room in the house. In a kitchen, a sage or medium green cools things down; in a family room or living room, it encourages unwinding but has enough warmth to promote comfort and togetherness. In a bedroom, it's relaxing and pleasant.Green also has a calming effect when used as a main color for decorating. It is believed to relieve stress by helping people relax. Also believed to help with fertility this is a great choice for the bedroom.

Purple in its darkest values (eggplant, for example) is rich, dramatic, and sophisticated. It's associated with luxury as well as creativity, and as an accent or secondary color, it gives a scheme depth. Lighter versions of purple, such as lavender and lilac, bring the same restful quality to bedrooms as blue does, but without the risk of feeling chilly.

Orange evokes excitement, enthusiasm and is an energetic color. While not a good idea for a living room or for bedrooms this color is great for an exercise room. It will bring all the emotions out that you need when jumping into your fitness routine.In ancient cultures orange was used to heal the lungs and increase energy levels.

Neutrals (black, gray, white, and brown) are basic to the decorator's tool kit. All-neutral schemes fall in and out of fashion, but their virtue lies in their flexibility: Add color to liven things up; subtract it to calm things down. Black is best used in small doses as an accent , indeed, some experts maintain that every room needs a touch of black to ground the color scheme and give it depth.

To make the job easier, you can rely on the interior designer's most important color tool: the color wheel.

Something about Ceiling and Walls

The ceiling represents one-sixth of the space in a room, but too often it gets nothing more than a coat of white paint. In fact, for decades, white has been considered not only the safest but also the best choice for ceilings. As a general rule, ceilings that are lighter than the walls feel higher, while those that are darker feel lower. Lower" need not mean claustrophobic: Visually lowered ceilings can evoke cozy intimacy.

Dark walls make a room seem smaller, and light walls make a room seem larger.

Conclusion

These general guidelines are a good starting point in your search for a paint color. But remember that color choice is a very personal matter. You're the one who has to live with your new paint color, so choose a hue that suits you, your family and your lifestyle.And after investing time to select just the right color, make sure it continues to look that way long-term by investing in a top quality paint.

P.S - If you've found this article useful, you should also read "Things You Should Know before Buying a New Bed"

 
 

源文档 <http://freshome.com/2007/04/17/room-color-and-how-it-affects-your-mood/>

 
 

Gmail + G-Drive

We previously mentioned using filters in Gmail to organize anything you uploaded through Gmail Drive. This works simply for documents.

• 1. Download Gmail Drive
  
• 2. Create and organize folders within the Gmail drive on your computer
  
• 3. Create Gmail filters with queries such as GMAILFS: /contracts/ and GMAILFS: /receipts/ in the Subject field. This will create labels in Gmail to reflect your folders.
  

Anything you add to the Gmail drive on your computer will be sent to your Gmail account as an email. With specific filters added, each file will be moved to the corresponding label/folder in Gmail.

 
 

源文档 <http://www.bloglines.com/myblogs_display?sub=48954672&site=1842790>

 
 

Hangover = Negotiation Gold

Hangover = Negotiation Gold

By Craig Childs on negotiation

 
 

Negotiations are funny and I'll always take any advice regarding the subject. Add the idea that it may be better to drink the night before a big negotiation, and I'm all ears.

Boris Veldhuijzen van Zanten recalls a situation where his lawyer suggested this theory:

The unpleasant physical effects following the heavy use of alcohol actually work to your advantage during a tough negotiation. Seemingly uninterested you will be slouched in your chair, responding slowly and talking softly and looking generally unhappy with whatever the other party proposes.

Your move, coffee.

Alcohol: a Business Tool? - [Bomega.com]

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源文档 <http://www.bloglines.com/myblogs_display?sub=48954672&site=1842790>

 
 

9 Ways To Be More Positive

By Craig Childs on happy

 
 

 
 

Life is easy with a positive attitude, wouldn't you agree? Well, easier at least. One of my favorite sites, The Ririan Project, has a list of ways to perk up that disposition, if you need to.

I've always been amazed by some people's insistance on being in the negative. You can change that, and it's the first step to stepping in a more successful life.

1. Appreciate as much as you can. This is one of those very simple things you can do to bring more positivity in to your life. I have also found appreciation to be a great way to turn an angry, sad and frustrated mood around to a more positive one.

2. Stop comparing yourself to others. If you don´t then you´ll just create a lot of unnecessary pain in your life. If you pass one person then you´ll just find another person more successful than you. And your brief sense of being a winner will transform once again into anxiety, fear, tummy-aches and possibly heart-attacks.

3. Realize that it is possible to choose how you react. You don´t have live your life in reaction. You have a choice. There is always a gap between stimuli and reaction. If you focus on that gap it will widen and although it might seem in the beginning like stimuli and your reaction are tied together that is not the case.

4. Educate yourself. Self-education can be a great help to live a more positive life. Read great books on the areas of your life you want to improve. Maybe it's it your financial situation. Or your health. Or your relationships. Ask people with more success in that area than you what they did to improve.

5. Act as if. Your emotions work backwards too. So even if you don´t feel positive, confident, calm or decisive you can act like it. And after you have done that for a few minutes, guess what happens? You will actually start to feel positive, confident, calm or decisive.

6. Live in the now. Don´t let your thoughts drift into the past or future more than necessary. It's often a sure-fire way to start negative loops of thoughts in your mind.

7. Do some mental rehearsal. This is great way to improve your performance and decrease anxiety in any upcoming situation. Maybe you´re heading into a meeting soon. Then visualize now how great the events will unfold - see and hear it - and also how great will you feel at this meeting.

8. Redefine failure. Michael Jordan once said: "I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."

9. Focus on what you want, not on what you don´t want. One common problem is to focus your thoughts on what you don´t want rather than what you want. If you do that then it will be hard to get what you want in life. If you want to improve your finances then focus on having a great financial situation rather than your lack of money and your debts.

 
 

源文档 <http://www.bloglines.com/myblogs_display?sub=48954672&site=1842790>