US home prices rise 12.2 percent, best in 6 years

U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening.

The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday also surged 2.4 percent in May from April. The month-over-month gain nearly matched the 2.6 percent increase in April from March – the highest on record.

The price increases were widespread. All 20 cities showed gains in May from April and compared with a year ago.

Prices in Dallas and Denver reached the highest level on records dating back to 2000. That marks the first time since the housing bust that any city has reached an all-time high.

Home values are rising as more people are bidding on a scarce supply of houses for sale. Steady price increases, along with stable job gains and historically low mortgage rates, have in turn encouraged more Americans to buy homes.

One concern is that higher mortgage rates could slow home sales. But many economists say rates remain low by historical standards and would need to rise much faster to halt the momentum.

Svenja Gudell, senior economist at Zillow, a home price data provider, said a big reason for the recent price gains is that foreclosed homes make up a smaller proportion of overall sales. Foreclosed homes are usually sold by banks at fire-sale prices.

“Typical home values have appreciated at roughly half this pace for the past several months, which is still very robust,” Gudell said.

Gudell said higher mortgage rates and a likely increase in the number of homes for sale in the coming months should slow the pace of price gains and stabilize the housing market.

The index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The May figures are the latest available. They are not adjusted for seasonal variations, so the monthly gains reflect more buying activity over the summer.

Despite the recent gains, home prices are still about 25 percent below the peaks they reached in July 2006. That’s a key reason the supply of homes for sale remains low, as many homeowners are waiting to recoup their losses before putting their houses on the market.

Dallas and Denver, the two cities that reached record highs, were not hit hard by the housing bust and therefore didn’t experience the sharp price swings like cities in Nevada, Arizona, California and Florida.

In Dallas, prices fell only 11.2 percent from their previous peak in June 2007 through February 2009. That’s far less than Las Vegas, where prices plummeted by more than half. Since bottoming out, home prices in Dallas have increased nearly 14 percent.

In Denver, prices dropped 14.3 percent from August 2006 until they also hit bottom in February 2009. Since then, they have risen 17.3 percent.

The biggest price gains are occurring in many of the states that experienced the worst housing bust.

Prices jumped 24.5 percent in San Francisco in May from a year earlier, the largest increase. Las Vegas reported the next biggest gain at 23.3 percent, followed by Phoenix at 20.6 percent. All three remain well below their peak prices.

The smallest yearly gains were in New York, at 3.3 percent, followed by Cleveland with 3.4 percent and Washington, D.C. at 6.5 percent.

Higher home prices help the economy in several ways. They encourage more sellers to put their homes on the market, boosting supply and sustaining the housing recovery. And they make homeowners feel wealthier, encouraging consumers to spend more. Banks are also more willing to provide mortgage loans when homes are appreciating in value.

Mortgage rates have surged since early May, though the increase would have had little impact on the current report. The average rate on a 30-year fixed mortgage has jumped a full percentage point since early May and reached a two-year high of 4.51 percent in late June.

Mortgage rates jumped after Chairman Ben Bernanke said the Federal Reserve could slow its bond-buying program later this year if the economy continues to improve. The Fed’s bond purchases have kept long-term interest rates low, encouraging more borrowing and spending.

In recent weeks, Bernanke and other Fed members have stressed that any change in the bond-buying program will depend on the economy’s health, not a set calendar date.

Since those comments, interest rates have declined. The average on the 30-year mortgage was 4.31 percent last week.

The Fed begins a two-day policy meeting Tuesday and could clarify its remarks further when the meeting concludes on Wednesday.

Get Indocement Profit Rp 2.42 trillion in the first semester

Jakarta – Cement producer PT Indocement Tbk (INTP) profit for the period amounted to Rp 2.42 trillion in the first semester of 2013. Acquisition was up from last year’s first half profit which amounted to Rp 2.16 trillion.

Based on the company’s financial reports to the Indonesia Stock Exchange, the net profit was due to higher revenue of Rp 8.91 trillion in the period January to June 2013. “Up from the previous Rp 8.19 trillion in 2012,” said Director of Indocement, Daniele Lavalle, Wednesday, July 31, 2013.

The cement sales Indocement most in Java, which amounted to Rp 7.05 trillion and sales outside Java Rp 1.81 trillion. Cement exports recorded very minimal which is only Rp 49.6 billion.

Indocement recorded an increase in cost of revenue of Rp 4.69 trillion, up from Rp 4.4 trillion. While operating expenses include selling expenses and general administrative expenses also increased to Rp 1.26 trillion from Rp 1.16 trillion in the same period the previous year. Thus, the company’s operating profit in the January – June 2013 amounted to Rp 2.99 trillion.

Some time ago Indocement has signed the commencement of construction of the project P-14 plant in Coventry, Bogor, West Java, Indonesia with PT Sinoma Engineering. Aldo added, Coventry factory was among the company’s three main projects this year. The project is still in the form of semi-finished land (brown field).

The plan, built the factory with a capacity of 4.4 million tons per year. The investment value of Rp 5.5 trillion, while the construction will be completed and began operation in 2015.

Two other major projects, namely the addition of new cement grinding plant with a capacity of 1.9 million tons per year in Coventry, will be completed in the fourth quarter of this year. With the addition, the company is targeting production capacity at the end of 2013 amounted to 20.6 million tons, up from the current 18.6 million tons.

The next project on the land yet so plant (green field), namely the construction of two new plants with a production capacity of each of 2.5 million tons per year with locations in Central Java and outside Java.

Meanwhile, other competitors such as PT Semen Indonesia (Persero) Tbk posted a first half net profit of Rp 2.58 trillion or Rp 436 per share, an increase of 22.9% from the same period in 2012. The revenue stood at Rp 11.4 trillion, an increase of 31.9 percent over the same period last year, which stood at Rp 8.6 trillion.

The increase in revenues was supported by the total sales volume increased by 18.3 percent to 12.23 million tons in the first half of 2013. Domestic turnover amounted to 12.14 million tons (up 18.0 percent) and export sales of 0.09 million tonnes (up 170 percent). While the national cement sales volumes (industry) grew 7.5 percent to 27.83 million tons compared to the previous period, which stood at 25.89 million tonnes.

Peek Cigarette Factory Home Based Sami Jaya

Cirebon – In the midst of the market dominance of branded cigarettes cigarette factory large, apparently non home-based products can still survive. Just look at the cigarette brand Sami Jaya and Panamas, the original production of cigarettes Cirebon is not losing fans who make the factory continues mengebul.

Cigarette Factory (PR) Fertile, is one of the many manufacturers of cigarette manufacturers households in Cirebon, West Java.

In the event the review is held with the Ministry of Finance, detikFinance got a chance peek direct production activities Cirebon original clove cigarettes.

“I started this business since 1971,” said the owner of PR Fertile, Hussen Nawi at its plant in Cirebon, West Java, Saturday (12/07/2008).

Manufacturing site is located in the village of Astanalanggar, District Losari, Cirebon, West Java. At first glance, the location of the factory is not like a cigarette factories that use advanced technology machines.

Machine owned simply because these types of production Fertile PR categorized Clove Cigarettes Hand (SKT). So entirely produced by hand, starting from pelintingan up packing.

Wide each plant was no more than 60 square meters. PR Lush has two production rooms, one for producing brand Sami Jaya, another for the brand Panamas.

“Our cigarette brands there are two, and Panamas Sami Jaya,” said Hussen.

Hussen said the two brands produced by 75 bales per month. Approximately one bale contains 200 packs of cigarettes. So the total production of about 15 thousand PR Fertile packs per month.

“The number of factory employees there are 100 people. They work alternately,” said Hussen.

Pelintingan production schedule up packing only performed for 10 days in 1 month. The rest is for pre-production and distribution process.

“Every 10 packs we can Rp 500. On average, one day we can Rp 10 thousand,” said one factory worker.

The two brands selling price of Rp 1,750 per pack, inclusive of excise. According to Hussein, the selling price at the distributor level in the market or about $ 2 thousand per pack. So a month turnover of approximately USD 26.25 million.

“Gain (profit) is not so big yes. Approximately Rp 100 thousand per day. Least sufficient to meet daily needs,” said Hussen.

Although profit is not much, apparently the domestic industry can still survive amid the current economic conditions.

“Thank God, so far we are still able to production,” said Hussen.

With a production volume that is not so great, but the two brands Hussen Nawi’s style can be exported to other cities.

“The distribution of our brands, especially in Cirebon and Tegal,” said Hussen.

On the other hand, the presence of PR Subur also provide economic empowerment to the surrounding community. Because in addition to having the factory, Hussen also has its own tobacco plantations.

“Total tobacco plantation area for our production of about 30 acres. Of these, only 3 acres of my own, the rest is leased,” said Hussen.

Surrounding communities also assess the presence of PR is a form of mutualism Fertile economy, especially in providing alternative livelihoods.

Livelihoods of the majority of the population around the plant is in agriculture and plantations. Well, almost all the workers in the factory packing pelintingan to pack Nawi is the mother-housewife.

“With this plant, our free time could be used to gain additional revenue,” said one factory worker.

Personally, Hussen is an exemplary employer. He had not been tempted to use fake excise stamps.

“Oh, not at all kepikiran. Wong fortunately not much, if discovered might corrupt all of our efforts so far,” said Hussen.

Suzuki Sales 3.8 Times National Market Growth

Suzuki’s total sales in the first six months of this year has increased 40 percent when compared to the first six months of last year. Endro Nugroho, Director of Marketing 4W Suzuki Indomobil Sales, said that the growth in wholesale sales or from factory to dealer.
However, the car market in Indonesia in the first six months of this year compared to the first six months of last year recorded only a 12 per cent. Thus, in percentage, Suzuki sales figures many times of what is recorded in the market.
“The car market in Indonesia in the first six months of this year compared to the first six months of last year it only grew by 12 percent. So, this Suzuki grow about 3.8 times that of the growth of the market,” said Endro.
Sales of Suzuki four-wheel for total sales in the period June 2013 as many as 15 578 units (wholesale) and 13 778 units for retail sales or from the dealer to the consumer.
Through this figure, sales of Suzuki four-wheel drive to be the highest in semester-I in the year 2013 or for the period of January-June 2013. The total sales of Suzuki four-wheel-first semester 2013 was 75,425 units.
Of that total, Suzuki Ertiga MPV is ranked top in the biggest contribution Suzuki vehicle sales. For June, sales of 6,555 units or 42.1 percent of total sales in the month.
The second rank is occupied by Suzuki Carry Futura 1.5 for modelkomersial or commercial and passenger models. Sales figure of 4,664 units or 29.9 percent of total sales.
The next position is filled by Suzuki APV for passenger cars and commercial models (Mega Carry) with the number 3,241 units or 18.6 percent of the total.

BPS: Soybean Production Jambi Down 47.98 Percent

Central Bureau of Statistics Provisni Jambi noted that soybean production in the region in 2012 decreased by 37.98 percent or as much as 2,153 tons of dry beans than in 2011.
“Jambi soybean production in 2012 totaled only 3,516 tons of dried beans or decreased production of 2,153 tons of dry beans 37.98 percent over the previous year,” said Head of BPS Jambi in Jambi Rusdiansyah Jos on Monday.
Decline in soybean production is due to decrease in harvested area of ​​1,754 hectares or 38.44 percent, while productivity rose by 0.10 quintals per hectare (0.81 per cent), he said.
Meanwhile, in 2013, soybean production is expected to increase to 3,525 tons of dry beans or an increase of 9 tonnes (0.26 per cent).
Jambi soybean production in 2012 contributed to the national soybean production of 0.42 per cent while the contribution of the island of Sumatra to the national soybean production in 2012 amounted to only 10.45 per cent and more than 50 percent is produced in Java.
In the year 2013 based on forecast figures (Aram I) soybean production is expected to be increased slightly to 3,525 tons, up by 0.26 percent compared to the year 2012.
This increase is expected to be achieved through the increase in harvested area and productivity through a variety of programs the Department of Crop related to an increase in soybean production.
Patterns of different soybean harvest rice and corn harvest patterns, where the pattern occurs at the highest soybean harvest subround II (May to August).
So that the three crops (rice, corn and soybeans) have a different pattern of harvesting the crops with other crops.
As for the highest harvest area in each subround not the same. Pattern soybean harvest in 2013 is estimated to harvest highest in sub round III, in contrast to the pattern of the 2011 harvest and 2012 where the highest harvest in subround II.
Differences in the pattern in which the highest yielding crop in 2013 subround III expected because of the shift in the growing season, he said.

Oliver Wyman analysis of the automotive industry’s structural change 2.0: Fine line for medium-sized suppliers

The automotive industry will be facing enormous challenges over the next few years. In the wake of the expected growth, OEMs and suppliers will have to deal with the next wave of structural change. While this will open up new opportunities, it will also require huge investments. Even today, the financial scope for manoeuvre of many suppliers is limited – not least due to low profitability and increasingly demanding investors. This means that the classic medium-sized automotive suppliers are walking a fine line. If they want to accept structural change 2.0 and the associated costs, they will have to work primarily on their strategic orientation and operational excellence, thereby ensuring their profitability and creditworthiness. These are the findings of the Oliver Wyman study on the impact of the structural change involving the supplier industry.

In the next few years, globalization and technological progress will bring dynamism and growth to the automotive industry across the world. The major emerging countries are still developing rapidly, and so further accelerating the regional market shift. In China alone, annual car production volume will almost double by 2020 (from 18 to 33 million vehicles). In India it is expected to nearly triple from four to 11 million. Traditional automotive regions such as Western and Southern Europe are stagnating due, in particular, to low sales. In June 2013, for instance, the Western European car market lost more than five percent compared to June 2012.

Furthermore, OEMs, owing to their increasing focus, will in the future assign an increasing number of tasks to suppliers. Especially in research and development and in production, suppliers will gain additional value components. According to Oliver Wyman, automotive value creation in 2025 will amount to 1.25 billion euros. Of this amount, 69 percent will go to suppliers – a clear increase as against the 61 percent from 840 billion euros in 2012. Ultimately, the complexity of the product range is taking on new dimensions. More than ever, the automotive industry will be shaped in the next few years by new vehicle concepts, new models and new technologies.

High capital requirements – cheap debt financing but only with an intact business model

The imminent growth will trigger the next wave of structural change. For all players in the automotive industry, this will open up major opportunities. But the fact is that only profitable and financially strong suppliers will be able to make the necessary investments in global structures and new technologies. “It is precisely the medium-sized supplier landscape that is under huge pressure from the creation of structures for the expected growth outside their home region,” emphasizes Lars Stolz, a partner at Oliver Wyman. “Many could see their profitability severely impaired for a long time”. In fact, over the next few years there will be high investment requirements. Even the structural adjustments of recent years required enormous expenditure and had significant consequences for profitability. Total depreciation on investments in value-creation structures and expenditure on research, product development and management increased from 2008 to 2011 on an annual average from 19.1 to 20.3 percent of sales, while operating income fell internationally on average from 7.5 to 5.5 percent.

However, much higher investment and additional expenses will be needed for the forthcoming structural change and the related, but repeated, transition to a new value system. This will put profitability once again, and much more severely, under pressure. According to calculations by Oliver Wyman these structurally related costs could amount in the transitional phase to up to 23.3 percent of sales and push down operating profit to only 2.5 percent on average. For a supplier with a turnover of 300 million euros, for example, such an increase would mean an additional cost of around 10 million euros and make the profits shrink accordingly. An operating margin of 2.5 percent will only in the rarest cases be sufficient to achieve a positive result after interest and tax.

In addition, the global automotive industry does not enjoy linear growth, but is subject to considerable fluctuations. If revenues fail to meet expectations in periods of high investment, the profit could slip even faster below the zero line. Without adequate profitability cushions, however, most suppliers are unlikely to be able to handle structural change 2.0 on their own. External financing is in turn experiencing certain difficulties. Due to the tightening of risk management requirements, banks are required to scrutinize the creditworthiness of companies more closely. This will also be felt by the automotive suppliers. Successful and profitable suppliers currently benefit from low interest rates and good availability of debt. Companies with an unclear business model or an unfavorable competitive position, however, are finding access to much-needed external funding more difficult.

Localized globalization required

Especially small suppliers maintaining strong customer relationships with manufacturers headquartered in their home region have only occasionally driven the structural change in recent years and participate in the international expansion mostly through exports. This was possible because the OEMs frequently still supplied new markets from their home region. In the future, however, the clocks of globalization will be ticking differently. The automakers will establish an increasing number of development centers and numerous production locations in te major emerging economies, especially China, but also in America, something they now also expect from their suppliers.

If small suppliers want to continue to benefit from the global volume growth, they need to swim in the waters of their customers and create the corresponding structures on site. But most of them have neither the financial resources nor the profitability to make the necessary investments. “For many medium-sized suppliers, it is five to twelve,” said Tom Sieber of Oliver Wyman. “Now they are paying for having, in the past, mostly stood by and watched the decline of their profitability. If they do not act rapidly, they will be putting the existence of their company at risk because they lack the resources for future growth.”

Rethinking needed

More rigorously than ever the medium-sized suppliers now have to work on their strategic positioning – and from a long-term perspective. This includes, among other things, clear footprint and portfolio strategies, but also the strategic definition of high-value activities and their own value-creation contribution. At the same time, it is important to be well prepared not only in purchasing, production or development. The challenge is to be better than the competition in all segments of the entire value chain in order to be able to set yourself apart. This includes the optimal selection and prioritization of projects, a professional purchasing organization, strict cost management, optimizing production efficiency and quality and the outsourcing of logistics processes.

Moreover, medium-sized suppliers should be open to all financing options – whether corporate bonds or subordinated loans, or capital inflow through private equity partnerships, or other strategic investors. “The line between getting through and crashing is extremely narrow,” admits Mr. Stolz. “Anyone who does not want to slip into the red and risk a liquidity bottleneck should now adopt the right strategic orientation and, in operational terms, concentrate massively on profitability”.

ABOUT OLIVER WYMAN

Oliver Wyman is a leading global management consulting firm with 3,000 employees worldwide in more than 50 offices in 25 countries. The company combines in-depth industry knowledge with specialized expertise in strategy development, process design, risk management and organizational consultancy. Together with its clients, Oliver Wyman designs and implements sustainable growth strategies. We help companies to improve their business models, processes, IT, risk structures and organizations, accelerate processing and to leverage market opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC – News). For more information, seewww.oliverwyman.de. Follow Oliver Wyman on Twitter @OliverWyman.

It is precisely the classic medium-sized automotive suppliers who are having to walk a fine line. If they want to overcome structural change 2.0 and curb the associated costs, they will have to work above all on their strategic orientation and operational excellence, thereby ensuring their profitability and creditworthiness.

Eid cakes were scrumptious production

Jakarta – It determines the choice of cakes what would you buy for Idul Fitri? Lapis legit, lapis Surabaya, kaastengels, nastar or sago cheese? This week a good time shopping for Eid cakes. The prices of the cake was already creeping up. Starting from Rp 50,000 to Rp. 580,000 per pan. Here is a list of pastry shops choice!

Lapis Legit cake is one of the old classic cake that must be present during Lebaran. This one pie is never subsided buyers. Spekoek seasoning or spices are fragrant and thin layers of cake is his trademark.

Now with the rising price of flour, eggs, and butter, Lapis Legitpun prices go up. Understandably because for 1 baking tray takes 30 chicken eggs. Not to mention the butter and terigunya. Plus how to make that take a long time, while the price of LPG gas had gone up anyway.

If you do not have a recipe mainstay and skills to make cookies or cake for Idul Fitri, do not worry. In Jakarta there are a variety of bakery and pastry shop that offers a variety of pastries and cakes in a variety of prices. If you want a more special, homemade pastries cottage industry could also be a mainstay. Usually the price is cheaper and tastes better!

One of the home of the legendary cake maker is Ny. Tjoen in the area of ​​West Jakarta. Ny. Tjoen or familiarly called Tante this Tjoen since 1995 has opened the order lapis legit in his home as well as business premises.

“At first I make cakes as a hobby, and then a lot of time to attend classes and even joined in the IFIs and learned a lot there. Privileged my first cake because it is made of materials of high quality, mini size, and without preservatives,” he explained Tante Tjoen length.

From the first he did not open the store, but orders flowed from the subscription either through friends or homemade cake I’ve ever tasted. For the variant itself Tante Tjoen only offer 3 variants lapis legit, namely ancient lapis legit, chocolate and cheese with mini size about 20cmx5cm.

About the small size as to be different than with other sellers, Tante Tjoen admitted homemade cakes often purchased for souvenirs to foreign countries. “For layer cake the size of a legit it feels very fitting and practical for souvenirs. Preservative Without this cake stand for about 1 week,” he said Tante Tjoen who handle themselves making the cookies.

Matter of taste do not hesitate anymore. Although tiny lapis legit Tjoen aunt’s homemade rolls soft texture, smooth, non-greasy with lapis legit aroma fragrant spices. This is all because the cake is made from chicken eggs and butter wisjman original.

Chiffon Cake made Tjoen aunt also famous for its texture smoother despite not wear additives and made from native materials. Pandan chiffon cake like his gorgeous green berwanra, ‘mentul-mentul’, soft, not too sweet with the scent of fragrant pandan original.

This Lebaran, Tante Tjoen good layer cake flooded with orders and chiffon cake. For layer cake flavors legit for all he set a price of Rp 125.000,00 – Rp and Rp 135.000,00 80.000,00 – Rp 85.000,00 for chiffon cake with mocha flavor, cheese and pandan.

Since Eid is getting closer, you should begin to make choices. Price-quality pastries are per jar (450g) around Rp 50,000 – Rp 110,000 and lapis legit and other modern cake ranges from Rp 150,000 to hundreds of thousands. All can be adjusted with the budget you have. Here is the data pastry shops that you can order a cake made in consideration for the holiday.

Salt production in Madura Confirmed Down Drastically

People’s Alliance Salt Indonesian Farmers Association (A2PGRI) ensure national salt production in 2013 will go down drastically. “Dropped due to drought this year quite dry wet,” said Member of the Presidium of A2PGRI Faisol Baidlowi, Saturday, July 6, 2013.
According to him, if in 2012 the national salt production reached 1.4 million tons, then this year’s production is predicted to fall about 30 percent, or stay in the range of 900 thousand tons. That, too, with notes by early June is no longer raining. “If it’s still raining, meaning no salt harvest this year,” said Faisol.
Faisol explained that early in the season to work on salt land began in May each year. July is usually the first stage of the harvest season and the subsequent salt harvest in August. “If the weather is normal this month, the harvest will come in around September to early October,” he said.
Meanwhile, in the District of Tempo has Tlanakan, Pamekasan, East Java, dozens of hectares of salt left abandoned and no signs will be worked. Some farmers improve irrigation visible only from the sea to their land.
Mastuki, a farmer, said he was still afraid to work the land for fear of losing money. Cost of work on salt land around Rp 50 thousand per day. “Once’ve ever worked on, direct rain, broken again,” said Mastuki.
When not working on the saline land, Mastuki admitted filling activities by pulling rickshaw with revenues of USD 40 to 50 thousand per day. “For everyday eating,” he said.

University Of Bergamo Study Finds Over 75% Of Home Exchangers Agree “Most People Trustworthy”

For the first time, a detailed profile is available of the expanding demographic of home exchange travelers. The survey finds that the industry itself is making a deep impact on society. According to the researchers, “people are turning more and more to models of consumption that emphasize community over selfishness,” and home exchange “may help to make our societies work better towards a sustainable future.”

With 93% of respondents satisfied with their experience and 81% having swapped homes more than once, the future also looks bright for home exchange. No longer just looking for an inexpensive travel option, home exchangers possess a deep cultural curiosity (98% declare an interest in cultural heritage and 84% visit museums and nature parks).

While a savvy breed of traveler (with 62% stating a high level of education), home exchangers also represent a wide cross-section of the traveling public. For example, the typical home exchange participant travels as a family (49% of them with children) and comes from across five continents, with the USA, France, Spain, Canada and Italy being the top five countries of residency.

Fair trade food (63%) and organic food (73%) are important to home exchangers, and 69% prepare their own meals while traveling, taking advantage of their access to a fully equipped kitchen. When not on the road, they are active contributors to their communities, with 59% reporting that they participate in community services, wildlife preservation, youth services, cultural preservation or animal welfare.

Given the strong sense of trust found among respondents (75% agree that “most people are trustworthy”), collaborative consumption and home exchange should continue to grow in popularity. As stated in the survey:

Swapping houses is one of the most significant boundaries of modern tourism, because it incorporates some of the dynamics that characterize the tourist of the new millennium: the increasingly felt desire to travel several times a year, even with limited budgets, the need to organize tailor-made trips as personalized as possible and the desire to make the trip an authentic experience… not only to know a new country with all its attractions, but also to immerse yourself in a new culture”

About the Researchers at the University of Bergamo

Francesca Forno, Assistant Professor of Sociology and Sociology of Consumption, is also Director of the CORES LAB (Research Group on Consumption, Networks and Practices of Sustainable Economies).

Roberta Garibaldi, Assistant Professor of Marketing and Tourism Marketing, is also a member of CeSTIT (Centro studi per il turismo e l’interpretazione del territorio).

The study was conducted from April to May 2013, surveying 46,000 HomeExchange.com members with an unprecedented answer rate of 16% (7,000 respondents).

About HomeExchange.com

Started in 1992 by Ed Kushins, HomeExchange.com has evolved into the largest and fastest growing online home exchange travel company in the world. This year their 46,000+ Members will make over 75,000 home swaps across 154 countries. HomeExchange.com makes it easy to plan and enjoy a home exchange vacation in almost any country, city or area of interest and offers travelers a memorable, authentic ‘live like a local’ experience. The site is available in 16 different languages. HomeExchangeGold.com, serving the luxury market, launched in 2012.

Add Production of New Well

PHE WMO continues to increase production, the target chasing SKK Migas. Entering the second half of this year PHE WMO back to drill two new wells to boost production.
PHE WMO production by mid of this month has gone up again to 22,500 barrels per day (bpd). Number of production. This increase relative to production in the early month high of 22,200 (bpd),

Even so PHE WMO is still trying to raise production to 24,000 bpd to 27,000 bpd by the end of this 2013.
Head of Production PHE WMO, Agus Sudarmanto said in July they are targeting to add two new wells. By the operation of two new wells could increase total production.
Agus explained, in 2013 the PHE WMO target drill 21 production wells. Now there are 11 production wells were drilled.
Overall there. Approximately 77 wells are worked in WMO block. Of the total number of wells, 36 producing wells in antaranyasudah not.
He explained that, in the three months beginning in 2013, the production of PHE WMO average is still in the range of 10,000. Away from the target SKK Migas. Significantly increase new production achieved from April until July.
Since April 1, PHE WMO continues to increase production from 9,000 bpd to 12,000 bpd. After the break in May and 20,300 bpd 17,000 bpd in June. Peak at the beginning of production back in July increased to 22,200 bpd and 25,500 bpd now broken.
“Declining block rate in WMO relatively high, so the addition of this production in addition to menutut old debt also against declaining a relatively high rate,” said Agus, Monday (22/07/2013) night.
Agus hoped, with increased production, at the end of 2013, the average daily production of PHE WMO SKK gas could meet the target. “Our main target SKK how to reach the target gas. We still have the debt, which hopefully we can continue to pursue with increased production, “he said.
He added that the increased production expected to be achieved from the two new wells that are ready to increase production.
This additional production is expected to be optimal with the completion of the installation of a new pipeline connecting new wells with Poleng Processing Platform (PPP).