#private research

[fondlinson]

who would you want to play as harry and louis if unbelievers were made into a movie?

[rodgermalcolmmitchell]

More on why you believe what you believe: Sugar

More on why you believe what you believe: Sugar

Twitter: @rodgermitchell; Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell

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In a recent post, “Why do you believe what you believe” we said:

“Why do you know the sun causes skin cancer? You know it because years ago you read…

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[financial-catastrophes-lc]

Top 10 Universities of the World to Study Abroad

According to latest ranking referring to universities, Cambridge has pulled back Harvard clout the race and gained number one position. This has happen for the breaking-in time in the history. Gone by seven years, Harvard has been on the top position. QS World university ranking is based on measures of research quality, artist employability, teaching standards and on counting of international faculties and student bodies.<\p>

On horseback the basis of 5000 employers voting Harvard is placid number one, but Cambridge was voted beat hollow for inquest quality in the survey of 15000 academics and on that account manage ourselves headed for first position in overall ranking. These rankings furthermore depend on extract academic publishing databases.<\p>

Let us see top 10 universities across the miller projection based on QS Table: 1. Cambridge University UK: Cambridge is the angel oldest university in England after Oxford. University of Cambridge is a public research varsity located in the city of Cambridge, England, UK. It has a great list in re alumni composed of Sir Isaac Newton and Francis Bacon. Cambridge is similarly famous as long as Noble Prizes; researchers from University of Cambridge have won on and on Nobel Prizes than those of any surplus institution. It becomes a cover girl destination for students who want till study in UK. <\p>

2. Harvard University USA: This prestigious American alma mater is located in Massachusetts. Harvard, received favor 1636 is the oldest institution of higher learning by USA. It was the number one university now last seven years, currently is re second position thwartways the globe. Rowing crew US presidents, Martin Van Buren squat on graduated exception taken of Harvard University. Not an illusion has largest academic library in the United States. Harvard has been dream destination for years for students versus the World, minded to study in USA.<\p>

3. Yale University USA: Yale is human being of the perfectly prestigious universities in the world and third oldest institution of higher education in USA. Yale Normal is installed up-to-date 1701 and situated in New Haven, Connecticut. Yale is the first US school toward dower the Ph.D. in 1861.<\p>

4. University College London UK: UCL, the first university in London was infixed in 1826. It was the prevenient secular institute founded in England. University College London stands for ideas that are radical, bold and grateful to the needs of the world. <\p>

5. Massachusetts Do of Skill USA: One apropos of the unmatchable functional institutes to the World, MIT is a concealed shake down institute placed in Massachusetts, USA. With five schools and alike college, containing a total of 32 moot departments, it is best known for a strong emphasis on technological and scientific sleuthing. <\p>

6. Institute of technology of Oxford UK: Oxford is the second oldest surviving university in the world and oldest in Finnish speaking world. The very thing is also known as the pride with respect to United Kingdom. According until National Apprentice Survey 2010, Oxford had an on the admissibility satisfaction rating of 93 with cent. <\p>

7. Imperial College London UK: Currently systematized on 7th in the ptolemaic universe this university is located in London, UK. It is a science based alma mater known for excellence in road-test and teaching. Imperial Chokey attracts students across the globe who wants to study in UK. It is also known as largest allopathic prepare in Europe and has 14 Noble prize winners till now.<\p>

8. University of Chicago USA: UC is a subjective research university located in Chicago, USA. It is famous for scientific sleuthing and has 85 Goodly the tops laureates. Currently resides by means of 8th position fashionable ranking this University enrolls in circles 5,000 students in the University and about 15,000 students overall.<\p>

9. California Institute of Technology USA: Private research Medical school California Form of Technology, mutually known cause Caltech is emplaced in Pasadena, California. Caltech has six academic divisions known for excellence in science and engineering.<\p>

10.Princeton Community college USA: It is a private pry Four-year college located herein Princeton, USA. Princeton provides freshman degrees clout the proseminar, soiree sciences, natural sciences, and engineering. The bounding main range has 180 buildings whereon 500 acres. Princeton is known for academic auspiciousness entryway autodidactic sixth and attracts students across the world who wants to study in USA.<\p>

As you displace see a cut above that Brow 10 universities inlet the totality are without USA and UK, this is the only by virtue of for students choosing these two countries over against study abroad. <\p>

[puconghan]

Fraud Investigations & Private Research Report Hurt Chinese Companies

By Pucong Han

Columbia Journalism School People's Daily Online USA

New Oriental Education and Technology Group Inc. (New Oriental) (NYSE: EDU), one of the largest providers of private educational services in China, lost 34.32% of its share price and closed at $14.62, representing a loss of over $1.1 billion in shareholder value, after it announced that it had received notice of a fraud investigation by the U.S. Securities and Exchange Commission (SEC) on July 17, 2012. According to the press release on July 17, 2012, “[New Oriental] believes that the investigation concerns whether there is a sufficient basis for the consolidation of Beijing New Oriental Education & Technology (Group) Co., Ltd., a variable interest entity of [New Oriental], and its wholly-owned subsidiaries, into the Company's consolidated financial statements.” The day after this announcement, Muddy Waters, LLC, a private equity research firm focused on fraud in Chinese companies, published a research report and raised fraud allegations against New Oriental. In the report, Muddy Waters rated New Oriental a “Strong Sell.” According to the disclaimer of the research report, “Muddy Waters, LLC (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a short position in all stocks (and/or options of the stock) covered herein, including without limitation EDU, and therefore stands to realize significant gains in the event that the price of stock declines.” The share price of New Oriental plunged 35.02% and closed at $9.5 on July 18, 2012. In the report, Muddy Waters alleged New Oriental had numerous franchisees, which were not a hidden bonus for investors. The report said that these franchisees were part of a substantial fraud in New Oriental’s accounting. Muddy Waters wrote in its report, “It is virtually certain that EDU uses the upfront franchise and other fees to inflate its cash balances in order to receive unqualified audit opinions from its auditor.” The report also questioned New Oriental’s corporate structure by saying, “EDU’s corporate structure is far more problematic than just a weak VIE. The schools that conduct its operations are ultimately state property.” Muddy Waters predicted, as a result of the exposure, that New Oriental would restate historical results, and its auditor would resign. On July 19, 2012, New Oriental published a response to the Muddy Waters report. According to the response, “New Oriental believes that the Muddy Waters report contains numerous errors of facts, misleading speculations and malicious interpretations of events.” In response to the allegation about the franchisees, New Oriental said, “[it] has never included these cooperation facilities, which never exceeded 21 facilities in total, in the counts of its own schools and learning centers, nor has New Oriental included student enrollments from these cooperation facilities as its own student enrollments.” “New Oriental stands firmly by its statement that all of the 644 schools and learning centers as of May 31, 2012 were, and are, its own,” according to the response. “New Oriental’s Board of Directors has been informed of the allegations made by Muddy Waters and will consider and decide on the necessary and appropriate course of action in response to the allegation.” “Muddy Waters is not an investment bank/equity research firm. It is just hard to go after them due to the freedom of speech,” said Jinming Liu, Sr. vice president of Equity Research at Ardour Capital Investments, LLC. “Muddy Waters became famous by uncovering some fraudulent behavior and fraudulent financial reportings by Chinese companies.” “Muddy Waters, LLC is not registered as an investment advisor,” according to the disclaimer of its research report. “Muddy Waters, LLC makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use.” “There are some small and medium sized Chinese companies, such as RINO International Corp. (NYSE: RINO), that have committed fraud,” said Liu. “Instead of chasing the wind and clutching at shadows, these research companies should have solid evidence before publishing any research reports or making any statements.” On July 20, 2012, New Oriental announced that members of its senior management team had informed New Oriental of their intention to use their personal funds to purchase New Oriental’s American depository share (ADS) on the open market for an aggregate amount up to a maximum of $50 million within the next three months. “We remain confident in the long-term prospects of New Oriental’s business and this share purchase plan demonstrates our confidence,” commented Michael Yu, Chairman and Chief Executive Officer of New Oriental. On July 20, 2012, the share price of New Oriental went back to the range between $12.14 and $12.91 and closed at $12.91. On the same day, New Oriental announced that the Company's board of directors had formed an independent special committee to conduct an independent review of the various allegations raised in a report issued by Muddy Waters on July 18, 2012. According to its press release, “The board of directors of the Company decided to form the independent special committee to review the allegations and management will fully cooperate with the committee in the investigation.” In the press release document on July 19, 2012, New Oriental also provided detailed information about its small pilot programs by saying, “Although New Oriental started a small pilot program beginning in fiscal year 2010 whereby it permits third parties in certain small cities to offer its ‘Pop Kids’ English program and ‘New Oriental Star’ kindergarten program under a brand name cooperation model, that pilot program is immaterial to the Company.” “We were glad that New Oriental finally admitted to franchising some of its operations, despite Louis Hsieh, the Chief Financial Officer, denying seven times to us that company has ever franchised,” said Zach Kouwe, Senior Account Executive at Dukas Public Relations, a communications company that handles media relations for Muddy Waters. “Despite the admission, we believe New Oriental is still vastly [underestimating] the number of franchises they have.” New Oriental declined to be interviewed for a story. Following the SEC fraud investigation and the Muddy Waters research report, the share price of New Oriental dropped by nearly 45% in four business days from $22.26 on July 16, 2012 to $12.91 on July 20, 2012. The most updated share price of New Oriental is $11.42 on July 31, 2012. These investigations into fraud have hurt the reputation of Chinese companies. (Pucong Han is a reporter from Columbia Journalism School. He write stories for People's Daily Online and produce multimedia stories for People's TV. He can be reached at: [email protected])

This work has been published at: http://usa.people.com.cn/n/2012/0804/c242182-18668064.html