Q&A: Bob Mandell of Winter Park talks about new role as ambassador to Luxembourg

Learn more about Ambassador to Luxembourg Bob Mandell. As seen in the "Orlando Sentinel".

http://www.orlandosentinel.com/news/local/orange/os-bob-mandell-ambassador-luxembourg-20111027,0,6913472.story

The Ambassador is leaving on Friday evening.

We all wish you a safe trip, hopefully not on Air France (they might strike).

Remember, Luxembourg is 999, nothing to do with the tax talk of that guy who wants to replace the President you supported. No, it's square miles. So aim carefully.

When you arrive in Luxembourg on Saturday, it will be 32ᵒ F, a little above during the day with a mix of snow and rain. That's a pretty good day in Luxembourg, what you would call actually a very warm reception. What follows then is documented, weather-wise, in the Battle of the Bulge history that you studied.

A good recipe for those days is glow wine. Have a look in the wine cellar. If during the Sede Vacante no-one poached around there, you should find $2,400 worth of wine, left from your predecessor Cynthia Stroum who bought it and doesn't drink wine, to the wrath of the Inspector General (buying wine that is, drinking wasn't the issue). Here is the recipe for a good glow wine, from @CDkitchen, where I think CD stands for Corps Diplomatique:

INGREDIENTS:

1 (750ml) bottle red wine
1/2 cup water
1/4 cup sugar
2 three-inch cinnamon sticks
3 cloves
2 lemon slices

PREPARATION:

Bring the sugar, spices, lemon, and water to a boil, then let this mixture steep for 30 minutes. Add the wine and carefully reheat to just under the boiling point. Strain into mugs and serve hot.

Note: You can substitute extra wine or a fine apple brandy for the water. And many traditional recipes call for a dash of Angostura bitters, though I think it tastes fine without them, and the Inspector General might not approve the expense. The rest is clearly a health issue and the best aboriginal Luxembourg medicine money can buy.

Robert "Bobby" Mandell, new Ambassador, drives to Luxembourg with his shofar.

Though a shofar is not a chauffeur, it reminds me of Pearle Mesta in Irving Berlins "Call me Madam".

Upon swearing her in, President Truman (oh Presidents did that theselves!?) said: "Congratulations, Madam Ambassador. When do you leave us?"

"Tomorrow morning!"

"And when do you arrive at your new post?"

'I don't know! Hey Boss, where the heck is Luxembourg?"

The real story seems to have been that she eventually landed in Paris and her chauffeur drove her to the wrong place: looking for Luxembourg in the Belgian Province of Luxembourg.

Today a GPS might help, but careful. The margin of error is small and you could miss the target.

I am generally and personally most intrigued by the following quote (link below):

"The present ambassador to Luxembourg spoke first and told us it is home to the second largest investment fund in the world, behind only the United States, and that it has strategic and financial importance in the world because it is the home of the United States’ and the EU’s money-laundering protections and operations."

I guess that's the Charge d'Affaires who was talking in approximations. The post is vacant. But the quote sounds quite funny to the people in the know. There you have it, the key word(s): money laundering. Our operations are well protected. What a smart move to do it also for the US. But there I'm tooting our horn. Precedence now for the shofar.

Congratulations, Mr. Ambassador.

http://blogs.orlandosentinel.com/news_politics/2011/10/the-scene-at-robert-mandels-swearing-in-as-u-s-ambassador.html

Andy Schleck and Frank Schleck sharing Tour de France stories.

It is so much fun to climb those mountains.

http://peckvillchen.blogspot.com/2011/10/den-andy-schleck-den-frank-schleck-am.html

HedgeFund.net: Luxembourg in the news from HedgeNews

A very good to the point article. The Fund industry is one of Luxembourg's biggest successes. One should add, also the least controversial among financial services there. Read more:

HedgeFund.net: Public news from HedgeNews

Remember though that just one detail in the article is not true: "Some of the major hedge fund firms and banks with a base in the 1,607-mile country ..."

Luxembourg got inflated here by 60%. It is just 999 square miles. Herman Cain would have known. We just couldn't make it four digits, but that's beautiful.

Luxembourg Gives Boost To Financial Centre In Asia

From our friends at Tax News.

Just one correction: it is the Grand Dukes son who "presides" and the Minister of the Economy who"leads".

Note that the other Minister is on a separate mission for the Financial Center.

Both members of the government must enjoy the distance they put between them and Luxembourg, given the shouting they heard about a national football / mall project and the ugly habit of abusing corporate boards by populating them with politically preferred people. Call them PPPs.

Luxembourg Gives Boost To Financial Centre In Asia

Robert A. Mandell's nomination as ambassador to Luxembourg .....

.... still waits approval from the US Senate. To my Luxembourg friends: don't hold your breath, The ways here are impenetrable, so who knows. I keep a watchful eye though and found someone who has to admit he doesn't know. In the meantime, this is a good overview about a fixture in US politics, that is useful for everyone to understand in Luxembourg. Bundling in Luxembourg is the other way round: the most faithful bundle board nominations without going through the pain of raising funds for the boss' campaign. Just for being faithful, reliable. Here we go:

http://news.muckety.com/2011/10/18/what-do-bundlers-get/34611

Quote:

"Ambassadorships are a favor handed out to many big money raisers. We count 23 such appointments in the Obama administration, some of which are shown in the map above. A 24th - Robert A. Mandell’s nomination as ambassador to Luxembourg - awaits Senate approval.

Mandell was named after another Obama bundler, Cynthia Stroum, stepped down in the midst of a near-mutiny by embassy staff."

Tour de France 2012

Computers are tricky business. Some actions might have unintended consequences. Such as the inadvertent publication of a secret on a website.

This schedule is on the following site: http://www.velopeloton.com/tour-de-france-2012/
There is even a link to hotel reservations for those who want to beat the rush!

                                  Click on picture

Tour de France 2012

Luxembourg Bank: Breakup Proposals for Dexia Begin to Emerge

NYT details the story well. Except that it seems to be a given that the buyer is the Qatar Sovereign Fund. The transaction would then have to be seen in the context of a global agreement that also awarded 35% of Cargolux to Qatar Airlines for $117.50 million, a bargain.

The price sticker on DEXIA BIL Luxembourg seems to be another bargain at Euros 900 million. The Luxembourg State seems to become a smaller shareholder. The Luxembourg Government just perpetuates its tendency to shore up failing companies with good (taxpayer) money.

Path to NYT:

http://dealbook.nytimes.com/2011/10/06/dexia-in-discussions-to-sell-luxembourg-unit/

TJN's Financial Secrecy Index: Luxembourg is # 3.

The influential Tax Justice Network has issued its Financial Secrecy Index. You;ll find it here:

http://www.financialsecrecyindex.com/2011results.html

Luxembourg made it to number three after Switzerland and Cayman Islands. As the world goes, that is either good or bad. It is in the eye of the beholder. TJN thinks it is very bad. The Luxembourg survey is certainly an invitation to image control:

http://www.secrecyjurisdictions.com/PDF/Luxembourg.pdf

Australia, Finland and Luxembourg Competing at the UN

Competing for a seat at the UN Security Council.
As seen in AdelaideNow.com.au:



"One group of votes Australia has been courting is the Gulf Co-operation Council. The GCC comprises the emirates, monarchies and sheikhdoms of the Persian Gulf. We have good political credit with them. We helped liberate Kuwait from Saddam Hussein, we are aligned with the West on Iran - which is a major issue in the Gulf - and we have a solid trading record in the region.
So their votes should be pretty safe. Well not quite - they've told the Government they will make a final decision after they've seen how the three candidates for the Security Council vote on the Palestinian question. And I suspect Finland and Luxembourg will be voting for the Palestinians."


See the whole article here:


http://www.adelaidenow.com.au/ipad/downer-a-un-vote-of-nerve/story-fn6br25t-1226156371960


I would just like to reiterate my bad feelings about Luxembourg's UN Security Council ambitions. The article gives some powerful argument why. It is already getting costly, for a small country with a focus on international services. Don't alienate your clients, Luxembourg.


Australia, good luck mate.