OPEC believes that non-OPEC producers will continue to ramp production until 2017. If demand conditions don’t change that could mean that either the cartel will have to take action to cut supply, or producers as a whole will have to endure lower prices for an extended period of time.
Rigs coming off line in the U.S. are those that were already declining in production and the robust rigs are still operating. Record production of 10.3 million barrels a day from Saudi Arabia in April continue to confirm that global supplies are ramping up in the face of lower prices, not falling. The U.S. pumped 9.57 million barrels a day in the seven days ended May 22, the most in weekly Energy Information Administration data going back to 1983. Output jumped 3.3 percent, the biggest single-week increase since October 2013. U.S. oil production surged to a 43-year high, despite a price war that resulted in a more than 50 percent reduction in active U.S. oil wells.

[June 20 2010 BP accused of collusion in setting prices of crude]

Tony Hayward aboard Bob

Tony Hayward aboard Farr-designed 52 foot Bob

U.S. lawsuit, based on allegations of collusion in setting prices of crude, refined products and biofuel says. BP Plc (BP/), Statoil ASA (STL), and Royal Dutch Shell Plc conspired with Morgan Stanley and energy traders including Vitol Group to manipulate the closely watched spot prices for Brent crude oil for more than a decade. The North Sea benchmark is used to price more than half the world’s crude and helps determine where costs are headed for fuels including gasoline and heating oil.

In May, European Union antitrust authorities raided the offices of companies including Platts, BP and Shell based on allegations of collusion in setting prices of crude, refined products and biofuels.
The case, which follows at least six other U.S. lawsuits alleging price-fixing in the Brent market

[June 29 2910]
BP’s Hayward spent the day with his son at the JP Morgan Asset Management Round The Island Race, where boats race around the Isle of Wight, off the coast of southern England.

He was later spotted by photographers on his $270,000 (£182,000) Farr 52 all carbon racing yacht, “Bob”, at the event.

White House Chief of Staff Rahm Emanuel said the boating incident has “just been part of a long line of PR gaffes and mistakes” over the Gulf oil spill.

President Obama’s Chief of Staff Rahm Emanuel on Mr Hayward’s “PR gaffe”

“To quote Tony Hayward, he’s got his life back,” added Mr Emanuel, referring to an earlier comment by Mr Hayward.

“I think we can all conclude that Tony Hayward is not going to have a second career in PR consulting,”

Tony Hayward, BP’s outgoing chief executive, will replace Andy Inglis, head of exploration and production at the UK oil group, on the board of its Russian venture, TNK-BP,  in October 2010.

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May 18 “Finding Neverland” ($1,067,924) , Overall Broadway sales climbed $1.6 million to 33 shows now running, with attendance up about 13,000 to 276,445, or 87% of total capacity.
10,846 TotalAttn 90.14%%Capacity $98.46AvgPdAdm

[March 26 box office opens
]

Scheduled to open on Broadway April 15, “Finding Neverland,” the new musical about the man who created “Peter Pan,” brought in more than $1 million in its first week at the Broadway box office,

[February 21 in Broadway rehearsals]
PRODUCED BY HARVEY WEINSTEIN . The updated version, starring Jeremy Jordan (Smash) as Barrie, played to mixed reviews (and record-breaking audiences) at the American Repertory Theater in Cambridge, Massachusetts, last summer. Its current Broadway incarnation features a new opening number, new songs, a revamped script, more lavish sets, and a new leading man.
Tony winner Diane Paulus (Pippin, Hair) directs this innovative new musical featuring an original score by noted composer Gary Barlow and Grammy® winner Eliot Kennedy, with a book by celebrated playwright James Graham and choreography by three-time Emmy winner Mia Michaels (“So You Think You Can Dance,” Cirque du Soleil’s Delirium).

[August 28 2014]

Boston Globe, OK, it’s official: The Broadway-bound musical “Finding Neverland” has broken box-office records at the American Repertory Theater. The world premiere production, directed by ART artistic director Diane Paulus and backed by movie titan Harvey Weinstein, “has reached the highest attendance record for a single production in the ART’s 34-year history” and has become the highest grossing production to date, according to a statement from the theater. Starring Jeremy Jordan as “Peter Pan” author J.M. Barrie, “Finding Neverland” runs through Sept. 28, and according to the ART, so far “all performances have played to capacity crowds.”

[July 25 ART’s Finding Neverland Musical Dazzles, Is Destined for Broadway – Boston magazine’s Boston Daily (blog)]
An earlier stage incarnation of “Finding Neverland” played to mixed reviews in Leicester, England, in 2012. Since then, the entire creative team has been replaced, there’s a new book and score, and all but one actor has been replaced, with star Jeremy Jordan (“Smash,” “Newsies: The Musical’’) now in the lead role. (Hudson is not in the musical.)

Based on the Miramax film by David Magee, Finding Neverland follows the real-life relationship between playwright J. M. Barrie and the family that inspired Peter Pan, or The Boy Who Wouldn’t Grow Up, one of the most beloved stories of all time. Staged by A.R.T. Artistic Director Diane Paulus with music by U.K. pop sensation Gary Barlow (Take That) and choreography by Emmy Award-winner Mia Michaels (“So You Think You Can Dance”), this new musical explores the power of imagination to open up new worlds, and the pressures put upon those worlds by the inevitability of growing up. Finding Neverland is presented by the A.R.T. by special arrangement with Harvey Weinstein. Gazette Classification: Theater. Organization/Sponsor: American Repertory Theater. Directed By: Diane Paulus. Thursday, July 24, 2014, 7:30 PM. American Repertory Theater 64 Brattle Street Cambridge, MA 02138.

[April 1, 2011]

Michelle Williams, April '11

Michelle Williams, April ’11

Peggy Siegal, press agent, public relations woman, flack, flimflam ma’am, publicist for the Weinstein Company, recently sent out a note to would-be investors inviting them to a special reading of the musical, Finding Neverland—about, J.M. Barrie,which features music by Scott Frankel and lyrics by Michael Korie, the team behind Grey Gardens.

the Cartier jewelery shop on the Croisette in Cannes has been holded up by four armed men who fled with a large amount of jewelry One robber in an old-man mask carrying a pistol burst into a Cartier boutique, letting in two accomplices with scarves around their faces, while a fourth man stood guard outside.
Two employees and a shopper were in the store at the time.
The robbers stuffed jewellery and watches into a leather satchel and jewellery bag. In their rush to make a getaway, they dropped several expensive watches onto the pavement, later recovered by the store.
The thieves made off in a Mercedes reported stolen in March that was later found burned out in a residential part of the town.
The Cartier store lies next to the luxury Carlton hotel – the scene of another daring jewellery raid in July 2013 that saw a lone thief make off with more than €140 million of gems, after breaking into the hotel through a door on the ground floor.

[March 13 Hatton Garden, London: USD $ 298, 570,000.00 in jewels and gold stolen]

Daily Mirror scoop

London Diamond Bourse (LDB) stated that the value of stolen goods has not yet been confirmed, so it will not fuel media speculation by commenting in that respect. London’s media has placed the value of stolen goods at anywhere from $50 million to $300 million.

We are currently one of London’s most successful and leading safe deposit company aiming to provide our clients a secure and cost-effective solution to store and protect important and irreplaceable personal belongings

We are currently one of London’s most successful and leading safe deposit company aiming to provide our clients a secure and cost-effective solution to store and protect important and irreplaceable personal belongings

Over the Easter weekend. burglars used heavy equipment to break into a vault used mainly by jewellers and gold dealers, Hatton Garden Safe Deposit. “The amount of money and the goods that are taken is never fully revealed… and there’s a good chance that not everybody would declare.
“I would not be surprised, given where this one is in Hatton Garden, if £200m is around about the amount stolen.”
In 2003 jewellery, cash and valuables worth an estimated £1.5m were stolen when a criminal, posing as a customer, emptied a number of boxes at the Hatton Garden Safe Deposit company

[March 14 9525150 Dollar jewel hijack on French highway]

Just after midnight two trucks were passing through a motorway toll at Avallon, in Burgundy, when they were targeted. Four cars surrounded the lorries – laden with valuable goods – as up to 15 robbers wearing balaclavas and brandishing automatic weapons jumped out.
“The trucks were full of jewels and other valuable goods,” said a judicial source involved in the investigation. “They were driven away along with the four cars being used by the robbers.” [March 14 Difficult, however, to know what the robbers can concretely collect for the loot. “The ratio rarely exceeds 40% of the value for concealment. It is rather on the order of 20%. In all cases, in my opinion, having regard to the manner in which the robbery took place, we will not find the loot. »

[May 39 2014 Diamond heisters were expecting to find a large cash shipment instead of diamonds and were unprepared to deal with what they found]

the men were expecting to find a large cash shipment instead of diamonds and were unprepared to deal with what they found

the men were expecting to find a large cash shipment instead of diamonds and were unprepared to deal with what they found

Authorities in Morocco have reported the arrest of four men wanted in connection with a number of armed robberies, including the diamond robbery that took place at Brussels Airport in February of last year.

The four are wanted for “attempted murder, armed robbery at goods transport warehouses, a major jewel theft at a European airport and an armed attack on a Belgian hospital with the intention of helping a prisoner escape.
[January 3 2014]The man thought to be the brains behind the operation, Frenchman Marc Bertoldi, was released on bail last month. No trace of the stolen diamonds has been found, and investigators have speculated that the men were expecting to find a large cash shipment instead of diamonds and were unprepared to deal with what they found.

The latest suspect is a 43-year-old man identified only as Nordine A. He was arrested on 13 December but released after questioning and after giving a DNA sample. He was arrested a second time on 23 December and formally imprisoned the next day, a spokesman for the prosecutor’s office said. The prosecutor would not confirm that the arrest was related to DNA evidence found at the scene of the robbery.
The robbery at Zaventem took place on 18 February 2013, when eight armed and masked men in police uniforms attacked a Swiss airlines flight.

[July 26 2013]

Marc Bertoldi, the 'criminal mastermind' behind the heist

The grouinds for arrest were based “on anything,” according to his Metz lawyer , M e Olivier Rondu. Or more precisely a document fifty pages in which the Moroccan authorities say they have captured a conversation between Marc Bertoldi and his wife established in Casablanca. After connecting on his cell on 18 and 19 February, the masteremind said he had made a big hit, and if she was watching TV she would understand

Marc Bertoldi, the criminal mastermind behind the heist of at least tens of millions of dollars worth of rough diamonds from an airport in Belgium, has been deported to that country to stand trial. The 43-year-old suspect has a lengthy criminal record. Bertoldi is a French citizen and he was captured in France. Bertoldi admitted that he had sold some of the loot. However, he said he did not participate in the robbery. According to a report from Moroccan intelligence services, he called his wife to tell her to watch the news, saying he had done something big. Dimitri de Beco, his lawyer said that his phone had been left off for two days before the robbery, “This report not, more than five pages and is not signed . The Moroccan intelligence report is that he said to his wife, one day before the robbery, he would not be reachable. “these claims are questionable because Moroccan intelligence services do not specify how or where they got this information.”
Moreover, “the investigators of the Belgian police, who went to Casablanca as part of a commission, had never heard of this report,” says the lawyer, who said that “this information can not under no circumstances be used to keep my client in jail.” The judge Marc Bertoldi ruled that Bertoldi is suspected of being the author or, at least, to have participated in the spectacular robbery.

[May 8]

Brink's of Belgium truck robbed of lots of diamonds

Brink’s of Belgium truck robbed of lots of diamonds

Police in Belgium, Switzerland and France have arrested 31 people in connection with one of the world’s largest robberies of diamonds.

Belgian prosecutors say they have recovered large sums of money and some of the diamonds that were taken in a raid at Brussels airport in February.

Query: why was Brink’s the shipper for a portion of the diamonds going from Antwerp to Switzerland [not the other way around]? Exports of rough diamonds in February fell to 7.49 million carats from 9.10 million carats last year, while declining to US$1.12 billion from US$1.16 billion last year. Global miners such as De Beers and Rio take the entire quantity of rough diamonds directly to major hubs like Belgium, assort them and sell to global processors, to avoid taxes.
Brink’s of Belgium, whose truck was robbed on the airport tarmac of lots of diamonds, has a nasty legal battle with its unions ongoing. An inside job seems likely. They took 120 parcels of diamonds weighing 22lbs . They were uncut, with no certificate. “The perpetrators knew very clearly, ” said Caroline Wolf.

Faced with a complicated labor dispute in 2010, Brink’s cut its losses. Brink’s of Belgium, the cash-delivery business, declared bankruptcy. Its workers were laid off without severance. Brink’s moved management to the Netherlands, while keeping the lucrative Antwerp-based jewelry-delivery business. “We didn’t have a choice, we were losing too much money,” said Mr. Candel.

The unions filed suit in a Belgian court challenging the change in job status and lack of severance. “Brink’s acted as if we wouldn’t be vigilant, but we have lawyers,” said Valerie Van Waregem, a delegate for the socialist union.

Labor experts say Brink’s probably erred in not negotiating a compromise with unions over severance, something that is required in the event of bankruptcy by a 2008 EU directive. “We never refused a dialogue with the unions,” said Mr. Candel. “They refused to work.”

In Europe, “one cannot do what one would be able to do in the United States with a bankruptcy,” said Thomas Kohler, a professor of labor law at Boston College. “In U.S. law, employees are unsecured creditors. It’s a very different situation in Europe.”

The insurance for air transport – handled sometimes by airlines themselves or external insurance companies – is usually relatively cheap because it’s considered to be the safest way of transporting small high value items, logistics experts say.

Exports of rough diamonds in February fell to 7.49 million carats from 9.10 million carats last year, while declining to US$1.12 billion from US$1.16 billion last year. Global miners such as De Beers and Rio take the entire quantity of rough diamonds directly to major hubs like Belgium, assort them and sell to global processors, to avoid taxes.
Brink’s Co., a provider of armored cars to transport valuables, said a diamond robbery at Brussels airport will have a “significant impact” on first-quarter earnings.
A portion of the gems stolen two days ago was being shipped by Brink’s, the Richmond, Virgina-based company said today in a statement.
“The total loss exposure has not been verified, and the loss exposure for Brink’s has not been disclosed,” the company said. Brink’s “has a longstanding insurance program in place to cover its losses.”
Brink’s said that while the loss will hurt first-quarter earnings, the robbery won’t “materially affect” it’s full- year profit forecast.

But a robbery of this size also catches the eyes of people who study the illegal diamond trade. A decade ago, concern over so-called “blood diamonds,” which are diamonds mined in conflict zones, led to industry participation in a regulatory process designed to clarify a precious stone’s place of origin. The goal was to make it harder to use illegal diamond sales to finance armed conflicts.
In effect since 2003, the Kimberley Process is a voluntary system that combines compliance from industry, government, and non-government monitors. This morning’s stolen diamonds should fall under the Kimberly Process rules, which cover “rough” or uncut diamonds, not finished ones. This morning’s stolen diamonds were rough.
If they were going from Belgium to Switzerland, and they were rough, they would have needed a Kimberley certificate