Copyright ©​ Daniel Cullinane CPA.

​Beginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold. Last year, official sector activity rose 36% to 366 tonnes – a substantial increase from 2016.

[Central Banks Ranked By Largest Gold Holdings]

Central Banks Ranked By Largest Gold Holdings

 U.S. GLOBAL INVESTORS

























































































The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. The United States holds the number one spot with over 8,000 tonnes of gold in its vaults – nearly as much as the next three countries combined. For six consecutive years the Russian Central Bank has been the largest purchaser of gold, increasing its holdings by 224 tonnes in 2017 and overtaking China to hold the fifth spot, according to the GFMS Gold Survey.

Not every central bank is a net buyer. For the second year in a row, Venezuela has been the largest seller of gold, with 25 tonnes sold last year to help pay off debt. However, gross official sector sales declined by 55% last year, to the lowest since 2014, indicating that central banks are happy to keep their reserves in gold, historically viewed as a safe-haven asset.

[Central Banks Continue Gobbling Up Gold]

Central Banks Continue Gobbling Up Gold

 U.S. GLOBAL INVESTORS

2018 could be another strong year for central bank gold demand. According to the World Gold Council(WGC), demand in the first quarter was up 42% year-over-year, with purchases totaling 116.5 tonnes for the highest first quarter total since 2014. As global debt continues to skyrocket, central banks and individual investors alike might want to keep gold in their pockets, as it historically has performed well during times of economic downturn and geopolitical uncertainty.

​CORNING

​Ah, cruising the seven seas — exotic ports, beautiful sunsets, bracing sea air, endless buffets, celebrity chefs, world-class bars, casinos, live music, sparkling swimming pools, and much, much more, all a million miles (or so it sometimes seems) from dry land… Sounds like paradise, right, whether you’re sailing on a charming small boutique vessel or one of the biggest cruise ships in the world?

But then there’s the dark side: the food poisoning, the stomach-churning storms, the collisions and the running aground, the people falling overboard. The website Cruisejunkie, which bills itself as “Your resource for the other information about the cruise industry,” publishes lists of ships that have sunk or run aground, illness outbreaks at sea, instances of passengers or crew members going over the side.

They have also just published an updated list of pollution and environmental violations and fines, based on those reported in the media or in public documents. 24/7 Tempo has scoured the list to find the 10 most egregious examples of such violations over the past two decades-plus, and ranked them according to the amounts of the fines levied against the cruise operators. Dates given are when the penalties were assessed, not necessarily when the incidents occurred.

Just two companies were to blame for most of these violations, with the most common offense being the illegal discharge of oil-contaminated waste. The fact that these cruise lines were caught and fined doesn’t necessarily make them bad companies, though; human error and faulty equipment or processing systems might have been to blame in some cases.

Cruising can still be a wonderful way to relax and see a lot of the world. For all their potential problems, there’s a good case to be made for the fact that cruises are a wonderful way to spend your hard-earned vacation. There are common elements that will make it a better experience than other types of leisure travel — these are the 15 cruises that are better than other vacations.


​Cruise line: Louis Hellenic Cruises
> When: June 2007
> Penalty: $1.57 million
> Offense: Oil and fuel spill

This fine was assessed against Louis Cruises after its ship the Sea Diamond ran aground off the coast of the Greek island of Santorini. Two of the vessel’s almost 1,200 passengers were missing after the accident and presumed dead. The ship was towed offshore and sank, leaking at least 300 tons of fuel and lubricants into the sea. Louis contested the fine. Nine crew members were subsequently convicted of various offenses relating to the accident by a Greek court.

Source: Wknight94 / Wikimedia Commons

Cruise line: Holland America
> When: August 2002
> Penalty: $2 million
> Offense: Sewage discharge

Holland America’s ship the Ryndam poured a disputed amount of untreated or partially treated sewage into the harbor of Juneau, Alaska; the Coast Guard initially estimated about 40,000 gallons; the cruise line said 250 gallons; and the eventual plea deal settled on 20,000 gallons. The cruise line blamed human error for the incident, and its vice president of compliance programs was quoted as saying that, in any case, the ship’s wastewater treatment facilities produce water that is “as pure, if not purer, than drinking water.”

ALSO READ: Cruises With the Best Entertainment for SeniorsSource: Roel Hemkes / Flickr

Cruise line: Holland America
> When: June 1998
> Penalty: $2 million
> Offense: Oil discharges

Holland America was required to pay a $1 million fine and $1 million in restitution after one of its ships, the Rotterdam, discharged oil-contaminated waste into Alaskan waters 13 times in a ten-day period in 1994. Investigators found that the vessel had a permanent pipe arrangement specifically for the purpose of illegal discharging.

Source: Coolcaesar / Wikimedia Commons

7. Cruise line: Royal Caribbean Cruises
> When: January 2000
> Penalty: $3.5 million
> Offense: Oil and toxic chemical discharges

In 1999, Alaska accused Royal Caribbean of seven counts of violating the state’s laws regarding hazardous waste and oil disposal. The company admitted discharging dry-cleaning fluid and other toxic chemicals, as well as oil-contaminated water into Alaskan seas


​Cruise line: Louis Hellenic Cruises
> When: June 2007
> Penalty: $1.57 million
> Offense: Oil and fuel spill

This fine was assessed against Louis Cruises after its ship the Sea Diamond ran aground off the coast of the Greek island of Santorini. Two of the vessel’s almost 1,200 passengers were missing after the accident and presumed dead. The ship was towed offshore and sank, leaking at least 300 tons of fuel and lubricants into the sea. Louis contested the fine. Nine crew members were subsequently convicted of various offenses relating to the accident by a Greek court.

Source: Wknight94 / Wikimedia Commons

Cruise line: Holland America
> When: August 2002
> Penalty: $2 million
> Offense: Sewage discharge

Holland America’s ship the Ryndam poured a disputed amount of untreated or partially treated sewage into the harbor of Juneau, Alaska; the Coast Guard initially estimated about 40,000 gallons; the cruise line said 250 gallons; and the eventual plea deal settled on 20,000 gallons. The cruise line blamed human error for the incident, and its vice president of compliance programs was quoted as saying that, in any case, the ship’s wastewater treatment facilities produce water that is “as pure, if not purer, than drinking water.”

ALSO READ: Cruises With the Best Entertainment for SeniorsSource: Roel Hemkes / Flickr

Cruise line: Holland America
> When: June 1998
> Penalty: $2 million
> Offense: Oil discharges

Holland America was required to pay a $1 million fine and $1 million in restitution after one of its ships, the Rotterdam, discharged oil-contaminated waste into Alaskan waters 13 times in a ten-day period in 1994. Investigators found that the vessel had a permanent pipe arrangement specifically for the purpose of illegal discharging.

Source: Coolcaesar / Wikimedia Commons

7. Cruise line: Royal Caribbean Cruises
> When: January 2000
> Penalty: $3.5 million
> Offense: Oil and toxic chemical discharges

In 1999, Alaska accused Royal Caribbean of seven counts of violating the state’s laws regarding hazardous waste and oil disposal. The company admitted discharging dry-cleaning fluid and other toxic chemicals, as well as oil-contaminated water into Alaskan seas

​JULY NEWSLETTER 3

​Medallia Inc. (NYSE: MDLA) entered the market with a bang on Friday. The firm priced its shares at $21 apiece, above the expected price range of $16 to $18 per share, and entered the market just over $33. It offered 15.5 million shares in total, with an overallotment option for an additional 2.325 million shares. At the $21 price point, the entire offering was valued up to $374.325 million.

The underwriters for the offering are Merrill Lynch, Citigroup, Wells Fargo, Credit Suisse, Oppenheimer, SunTrust Robinson Humphrey, William Blair, Needham, Craig-Hallum Capital Group and Roth Capital Partners.

This company’s software as a service (SaaS) platform, the Medallia Experience Cloud, captures experience data from massive and expanding signal fields emitted by customers and employees on their daily journeys and it is a leader in the market for understanding and managing omnichannel experiences.

Medallia utilizes its proprietary artificial intelligence technology to analyze structured and unstructured data from these signal fields across human, digital and Internet of Things interactions at great scale to derive personalized and predictive insights that drive action with tremendous business results. Using this technology, enterprises reduce churn, turn detractors into promoters and buyers and create in-the-moment cross-sell and up-sell opportunities, providing clear and potent returns on investment.

In the filing, the firm detailed its finances as follows:

For the years ended January 31, 2018 and 2019, our subscription revenue was $201.8 million and $246.8 million, respectively, representing year-over-year growth of 22%, and our revenue was $261.2 million and $313.6 million, respectively, representing year-over-year growth of 20%. For the three months ended April 30, 2018 and 2019, our subscription revenue was $55.6 million and $71.7 million, respectively, representing period-over-period growth of 29%, and our revenue was $70.7 million and $93.6 million, respectively, representing period-over-period growth of 32%. For the years ended January 31, 2018 and 2019, and the three months ended April 30, 2018 and 2019, our net loss was $70.4 million, $82.2 million, $27.5 million and $2.6 million, respectively, which reflects our substantial investments in our business focused on our large market opportunity.

The company intends to use the net proceeds from this offering for working capital and general corporate purposes.

Shares of Medallia were last seen up 62% at $34.00, in a range of $32.58 to $35.40 on the day thus far. Also, about 7 million shares have moved on the day as of 11:15 a.m. Eastern.

​GOLD RESERVES

Daniel Cullinane CPA

25 Plaza 5 25th fl Jersey City NJ                                          phone 732-516-1648 fax 732-516-9778

MBA Taxation

Daniel Cullinane CPA

2500 Plaza 5 25th fl  Jersey City NJ 07311                                                          phone 732-516-1648  fax 732-516-9778

                 MBA TAXATION