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Welcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously
complicated deals that often leave anyone without a MBA wondering what was put into these CDOs.
The first thing to
understand about bonds, (aka debt) is that bonds are often backed by something else. Think about your home mortgage. If you
don't pay your mortgage, the bank can take the house. You end up homeless, and the bank sells the house to pay off the rest
of that mortgage. There is something "backing" that mortgage; something lender can fall back on, if you don't pay your bills
like a good human being. That's called collateral.
CDOs are one flavor of an entire sector of investing called structured
finance, and they are also backed. CDOs, in the simplest concept, are just bonds backed by something else. In most cases,
a CDO is backed by a collection of various types of debt. CDOs can be home mortgages, or other types of debt like credit cards,
auto loans, and personal loans. Most of these types of debt are usually considered a bit more risky and they don't have the
backing that a home loan does. So, if you think it through, you can imagine that CDOs are usually considered a risky investment.
To take a step further, understand that CDOs have multiple flavors within each CDO. These flavors are called tranches. If you've taken French, you might recognize the word, it means "slice" or "portion." Each slice of that CDO you invest in is a little different and carries different amounts of risk.
You could invest in the lowest risk tranche of the CDO, which would
provide you lower risk. But, you don't get a good return on that investment. Or, you can be the heroic adventurer of bonds
and invest in the lowest-grade tranche of the CDO. You'll make an amazing return, but if the economy even looks at you wrong,
you might lose the entire investment.
CDOs aren¿t easy, and are almost always invested in by mutual funds, insurance
companies and hedge funds. As an individual investor, you will probably not come across a CDO you can participate in.
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Wednesday, July 30, 2008
CH2M HILL Expands Contract With Virgin Media
Comtex
LONDON, Jul 30, 2008 (MARKET WIRE via COMTEX) ----CH2M HILL, an industry-leading information technology management consulting and solution development business, announced it has been awarded an extension of its current contract by Virgin Media. The extension is intended to deliver consulting services related to enhancing service provisioning systems which will support Virgin Media's high-bandwidth services and extends earlier work which established an inventory of network resources, providing for progressively automated support for service design, and network resource allocation, as part of the service provisioning process.
Virgin Media is the largest residential broadband provider in the United Kingdom, with an extensive network reach. The company was formed as a result of a merger between the U.K.'s two largest cable companies, NTL and Telewest, and the subsequent acquisition of Virgin Mobile in 2006. CH2M HILL has previously supported Virgin Media with initial phases of the deployment and rollout of the network resource management and allocation solution as well as consulting services related to the long-term spatial platform requirements of the United Kingdom-based telecommunications company.
Under the extension, CH2M HILL will provide services to support the next phase of deployment, building on the success of earlier phases of the program and streamlining the operations required to manage the network. This solution will allow Virgin Media to accurately and quickly provision new services on the network as demand continues to grow.
"Virgin Media will continue to see a growing demand for bandwidth-hungry services such as IP, VPN and Ethernet services in the years ahead," said Bob Belcher, Manager of Network OSS Architecture, Virgin Media. "CH2M HILL was selected because of its extensive experience in the customization and deployment of OSS solutions, as well as its proven ability to understand our business needs, integrate with our organization and deliver on time."
The latest phase of the program provides automated support for the technical aspects of provisioning Ethernet VPN services across the multi-vendor Virgin Media network. By keeping track of network configuration and utilization, the solution also supports Service Assurance and Network Planning processes.
Angela Murphy, CH2M HILL's Practice Manager for Information Solutions, EMEA, added, "CH2M HILL and Virgin Media have had a longstanding relationship, where they have been able to utilize a wide variety of services in our portfolio. We are pleased to continue our work with them on a project of such vital importance, and to have been selected to drive the deployment of this solution from business case development to deployment."
CH2M HILL Enterprise Management Solutions (EMS) is an industry-leading IT management consulting and solution development business. The EMS business provides a unique ability to leverage its core lines of business: consulting, spatial, collaboration, security and IT managed services to provide capabilities that span the entire client enterprise. For more information on EMS and its lines of business, visit www.ch2mhill.com/ems or contact Angela Murphy, via e-mail angela.murphy@ch2m.com or 07747 054478.
About CH2M HILL
Headquartered in Denver, Colo., employee-owned CH2M HILL is a global leader in engineering, procurement, construction, management and operations for government, civil, industrial and energy clients. With more than $5 billion in revenue and 24,000 employees, CH2M HILL is an industry-leading program management, construction management and design firm, as ranked by Engineering News-Record (2008). The firm's work is concentrated in the areas of energy, water, transportation, environmental, nuclear and industrial facilities. The firm has long been recognized as a most-admired company and leading employer, including being named by FORTUNE as one of the 100 Best Companies to Work For and one of America's Most Admired Companies (2008). Visit www.ch2mhill.com.
CH2M HILL Enterprise Management Solutions (EMS) is an industry-leading IT management consulting and solution development business. The EMS business provides a unique ability to leverage its core lines of business: consulting, spatial, collaboration, security and IT-managed services to provide capabilities that span the entire client enterprise. For more information about CH2M HILL (EMS) Visit: www.ch2m.com/ems.
USA Contact: Dianna Herbst Phone +1.720-286-3008 E-Mail: Email Contact UK Contact: Angela Murphy Phone: +44.207.471.6100 E-Mail: Email Contact
SOURCE: CH2M HILL
http://www2.marketwire.com/mw/emailprcntct?id=7AD894A7CCAE488A http://www2.marketwire.com/mw/emailprcntct?id=4DBA34EEB4F7272A
Copyright 2008 Market Wire, All rights reserved.
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