The Media Bias Chart 2018

The media plays an important role in democracies. However bias in the media distorts their work. Some tend to have a right-wing agenda with the coverage while other lean towards the left. Some are neutral. A very few are extreme left or right basically spreading lies and fake news on a daily basis confusing the public.

In the US for example, The Wall Street Journal is a big supporter of President Trump and his policies while The New York Times and The Washington Post are the exact opposite.

I came across the following chart showing the various media outlets with their biases:

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Source: 

Hat Tip: @Lelde Smits

Maersk Container Ship Loads A World Record 19,038 Containers

Mumbai Maersk is one of the world’s largest container ships owned by Maersk, the Danish shipping giant. Recently the ship was loaded with an astonishing 19,038 Containers at Tanjung Pelepas Port in Malaysia. The ship is on its way to Rotterdam in Europe. According to a news report, the ship beat all previous world records with the loading of over 19,000 boxes.

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Source: Maritime Professional

To put those 19K+ containers in perspective, here is what a typical 20 foot container can hold:

  • 200 full-sized mattresses
  • 48,000 bananas
  • 50-60 refrigerators
  • 400 flat screen TVs

Below is another cool infographic:

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Source: Shippo

 

The Most Popular Cities of Europe and Tourism Revenues

Tourism is a major industry in most European countries. Millions of tourists flow into the major cities like London, Paris, Barcelona, etc. every year and the numbers only keep growing. Infrastructure in these and other tourist destinations are unable to keep up with the needs of the mass hordes of tourists everyday.

A recent article in Der Spiegel discussed about the impacts of mass tourism on European cities. From the article:

There were times when the hotels lining the beaches in Benidorm, in Arenal on Mallorca and along the Adriatic Sea in Italy, were symbols of the ugliness of modern mass tourism. In retrospect, though, that era seems almost quiet. Benidorm and Arenal are cities that were created so that Europeans would have a place lie on the beach in summer. They are artificial resorts and not very nice, but they do serve a purpose: as factories for mass tourism that could just as easily be removed should the need arise.

Today, these tourist reserves no longer fill the demand. The crowds of sun-seekers have grown so large on the beaches of Southern Europe, that some small bays on Mallorca should actually be closed due to overcrowding. Even along the North and Baltic seas in Germany, hotels and pensions are fully booked out in places like Sylt and Rügen.

The chart below shows the top 5 European cities and their tourist numbers and reviews:

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Source: Paradise Lost – How Tourists Are Destroying the Places They Love, Der Spiegel

The entire article is worth a read.

Below is a picture of Prague, another growing European tourist city.

Prague, Czech Republic

 

Volkswagen AG Terminated its ADR Program

German auto giant Volkswagen AG has terminated its ADR program effective July Aug 13, 2018. The ADR traded under the ticker VLKAY for many years. Below is the news of the termination from the company’s site:

Volkswagen AG has reached the approved registration limit for the American Depositary Receipt (“ADR”) programs and decided not to renew them.  Volkswagen AG has notified JPMorgan Chase Bank, N.A., as Depositary, that it is terminating each of its sponsored ADR programs, effective August 13, 2018.

Source: Company Site

Full Details of the ADR termination can be found here.

However though the sponsored ADR program was terminated, an unsponsored version is trading on the OTC markets under the ticker VWAGY.

1.So if you hold the old sponsored ADRs (VLKAY) what to do now?

The ADR depository will cancel the sponsored ADRs on February 11, 2019. So holders of VLKAY have until that date to either exchange the ADRs for the unsponsored ADS(VWAGY) or exchange the ADRs for the ordinary shares listed on the German stock exchanges.

Between Aug 11, 2018 and February 11, 2019 the custodian is waiting the cancellation fees for ADR holders.

2.What is the exchange ratio from VLKAY to VWAGY?

Each sponsored ADR(VLAKY) will be exchanged to two VWAGY shares.

So 1 VLKAY = 2 VWAGY shares.

3.What is the ratio of unsponsored ADs to the ordinary share?

The ratio is 1: 10. Or each VWAGY represents one-tenth of one ordinary common share trading on German exchanges.

4) If I want to exchange my VLKAY for the ordinary shares, what is the exchange ratio?

Each sponsored ADR (i.e. VLKAY) is worth 5 ordinary shares traded on the German exchanges.

Disclosure: No Positions