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On the one hand, you'll likely never find anything so aptly named in finance. It is indeed a beige book. But its real title is the Summary of Commentary on Current Economic Conditions by Federal Reserve District. About two weeks before the Federal Open Market Committee meets to decide on interest rates, Fed governors get a compilation of how individual Federal Reserve banks view their economic health. (Actually, a different Fed bank is responsible each time to put it together, so they pass the workload around like roommates deciding who'll do the dishes.)
Obviously, it's important stuff. Since it's rather timely, many stock traders and economists use it to gauge whether the Fed has the same view of economic conditions as the market seems to.
But it's not scientific -- even the Fed admits that it's "anecdotal." And the Beige Book is the result of dozens of interviews with economists, bank branch managers, market experts and business leaders. As a result, a survey of pessimists in a district can paint a decidedly glass-half-empty picture. What's more, the Beige Book surveys all 12 Fed districts, and economic conditions in Cleveland can be much different than, say, Richmond, Va.
As a result, the Beige Book is rarely a market-mover, unless it contradicts a bunch of other data. So, check out the summary, but you can find better reports to read before nodding off.
Home / Markets / Industries / Energy
Tuesday, May 06, 2008
Gushan Environmental Energy Limited Announces Date of First Quarter 2008 Earnings Release and Conference Call With Investors
Comtex
NEW YORK, May 6, 2008 /PRNewswire-FirstCall via COMTEX News Network/ ----Gushan Environmental Energy Limited ("Gushan"; NYSE: GU) announces that it will submit its unaudited first quarter 2008 financial results on Form 6-K to the U.S. Securities and Exchange Commission on Tuesday, May 13, 2008, to be followed by a conference call on the same day at 8:30 a.m. Eastern Daylight Time (or 8:30 p.m. Hong Kong Time) to discuss Gushan's first quarter financial results for the three months ended March 31, 2008.
To join the conference call, please use the dial-in details below: US Toll Free Number 1.800.659.1966 US Toll Number: (for international callers) 1.617.614.2711 Hong Kong Toll Free Number 852.3002.1672 China Toll Free Number 10.800.130.0399 UK Toll Free Number 00.800.280.02002 UK Toll Number (for international callers) 44.207.365.8426 Passcode: 3402044 An audio webcast will also be available at http://www.chinagushan.com
A replay of the call will be available on the same day at 10:30 a.m. Eastern Daylight Time (or 10.30 p.m. Hong Kong Time) until May 20, 2008. To listen to the replay, please use the dial in details below:
US Toll Free Number: 1.888.286.8010 US Toll Number: (for international callers) 1.617.801.6888 Passcode: 80761255
About Gushan Environmental Energy Limited
Gushan Environmental Energy is China's largest producer of biodiesel, as measured by annual production capacity. The company produces biodiesel, a renewable, clean-burning and biodegradable fuel, primarily from vegetable oil offal and used cooking oil, and by-products from biodiesel production, including glycerine, plant asphalt, erucic acid and erucic amide. Gushan sells biodiesel directly to users, such as marine vessel operators, as well as to petroleum wholesalers and individual retail gas stations. The company currently operates four production facilities in Sichuan, Hebei, Fujian provinces and Beijing with a combined annual production capacity of 240,000 tons, or approximately 72 million gallons. The company targets to increase its annual production capacity to 400,000 tons, or approximately 120 million gallons, by the end of 2008 with the expansion or addition of new production facilities in Beijing, Shanghai, Hunan and Chongqing.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "will," "may," "expect," "anticipate," "aim," "target," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our production capacities, our future business development, and our beliefs regarding our production output. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Gushan and the industry. Important risks and uncertainties that could cause Gushan's actual results to be materially different from expectations include but are not limited to the effect of intensifying competition in the biodiesel and alternative energy industries, the availability of suitable raw materials to Gushan, and the risks set forth in Gushan's filings with the U.S. Securities and Exchange Commission, including on Form F-1, as amended. Gushan undertakes no obligation to update forward-looking statements, except as may be required by law. Although Gushan believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
SOURCE Gushan Environmental Energy Limited
http://www.chinagushan.com
Copyright (C) 2008 PR Newswire. All rights reserved
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