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Trends and climate
How would you describe the current merger control climate, including any trends in particular industry sectors?
There is a general consensus among private practitioners that the gap between the statutory merger review term (45 business days) and existing practice (at least two years) has reached a level that is hard to justify. Argentina now ranks among those jurisdictions in which final merger decisions take longest to obtain, to the detriment of the effective enforcement of competition laws. However, there is hope that the next administration may get things back to normal.
Although most decisions are soundly based, some have been affected by the lack of independence of the competition authorities. For example, the merger between Cablevisión and Multicanal – at the time, the two largest cable television companies in Argentina – was approved in 2007 subject to a series of non-competition related commitments, which shortly thereafter were considered not to have been fulfilled in their entirety due to a change in the relationship of the merging parties with the government. The approval of the merger was therefore revoked. Although this is an extreme example, it serves as a reminder that sometimes in Argentina, factors other than competition law are involved in the review process.
Are there are any proposals to reform or amend the existing merger control regime?
The Antitrust Tribunal – created by the Competition Act (25,156/1999) – awaited implementation for many years. However, a 2014 amendment to the Competition Act (Act 26,993/2014) eliminated all references to the Antitrust Tribunal and amended other important aspects of the law (eg, the creation of new appeal courts). None of these amendments was released for public consultation in advance. However, it is expected that the law will be thoroughly revised in the future.
Legislation, triggers and thresholds
Legislation and authority
What legislation applies to the control of mergers?
Economic concentrations are currently examined under the Competition Act (25,156/1999), as regulated by Decree-Law 89/200 and amended by Decree-Law 396/2001 and the 2014 amendment to the Competition Act (Act 26,993/2014).
The Competition Act is divided into nine chapters as follows:
- Chapter I – Prohibited agreements and practices, which sets out the substantive test and includes a non-exhaustive list of anti-competitive practices;
- Chapter II – Dominant position, which sets out the parameters that should be considered in determining the existence of a dominant position in certain markets;
- Chapter III – Economic concentrations and mergers, which includes a mandatory merger control regime;
- Chapter IV – Authority, which establishes that the executive power will determine the enforcement agency for the application of the Competition Act, describes its authority and creates the Antitrust National Registry;
- Chapter V – Budget, which was revoked by the 2014 amendment to the Competition Act;
- Chapter VI – Proceeding, which deals with the administrative proceedings for investigating anti-competitive practices;
- Chapter VII – Sanctions, which lists applicable penalties and includes guidelines for the application of fines;
- Chapter VIII – Appeals, which indicates which decisions might be subject to direct appeal, specifies the term and procedure for appeals and identifies the competent courts to hear cases. It also incorporates the solve et repeteprinciple (ie, respect obligations before asking for reimbursement) in connection with appeals of fines;
- Chapter IX – Statute of limitations, which indicates the applicable statute of limitations and how the term is interrupted; and
- Chapter X – Transitory and complementary provisions, which includes some additional complementary provisions, such as supplemental applicable law.
Further, there are secondary sources which deal with procedural aspects of merger control, such as:
Resolution 40/2001 of the former Secretariat for Competition and Consumer Protection, which describes the procedure for the notification of economic concentrations, including:
- the basic definitions needed to understand the scope of the standard template and notification forms included therein;
- the first and second stage notification forms (Form 1 and Form 2); and
- a fast-track procedure for the analysis of economic concentrations, which is rarely followed;
Resolution 164/2001 on the Guidelines for the Control of Economic Concentrations and the Economic Concentrations Notification Rules, which was issued by the former Secretariat for Competition, Deregulation and Consumer Protection, which adopts non-binding guidelines to be followed in the analysis of economic concentrations; and
Resolution 26/2006 of the former Secretariat of Technical Coordination, which amends the procedure applicable for the issuance of advisory opinions by:
- making them binding;
- providing that the Secretariat of Technical Coordination will adjudicate decisions in this area and that the role of the National Antitrust Commission is limited to issuing non-binding opinions to the secretariat; and
- providing for the possibility to appeal such decisions.
Finally, Section 56 of the Competition Law sets out that in those cases not foreseen therein, administrative procedural law will apply.
What is the relevant authority?
The Secretariat of Trade and the National Antitrust Commission – an advisory and technical agency within the auspices of the Ministry of Economy – apply the previous Competition Act (Law 22,262/1980) under a dual-agency structure.
As anticipated, when the current Competition Act (25,156/1999) was passed, it provided for the creation of the Antitrust Tribunal as an independent sole agency in lieu of the dual-agency system then in force, whereby the National Antitrust Commission conducted investigations and issued non-binding opinions to the secretary of state, who adjudicated decisions.
Before the 2014 amendment to the Competition Act (Act 26,993/2014), Section 58 of the Competition Act provided that the public authorities appointed under the previous Competition Act (Law 22,262/1980) were empowered to apply the competition legislation until the National Antitrust Tribunal was formed. Over the years, members of the National Antitrust Tribunal were not elected and that led to a number of decisions being taken by the National Antitrust Commission and the Secretariat of Trade. The issue was settled in a series of cases, most notably in Credit Suisse, where the Supreme Court stated that the dual-agency system created by the former Competition Act was still in force.
The 2014 amendment deleted all references to the National Antitrust Tribunal from the Competition Act, stripped the National Antitrust Commission of many of its powers – thus weakening any existing decisional power – and established that the act's new enforcement agency would be designated by the executive power. It also stated that the new enforcement agency would be assisted by the National Antitrust Commission as an advisory technical body.
As anticipated, and despite the fact that the 2014 amendment did not foresee this, the Secretariat of Trade and the National Antitrust Commission will apply the Competition Act until the new enforcement authority is established.
The regulation is yet to be issued, but presumably the new enforcement agency will be dependent on the Secretariat of Trade or act in coordination with it, thus altering the principles of autonomy and independence fostered by the original wording of the act when it created the National Antitrust Tribunal as an independent agency.
Transactions caught and thresholds
Under what circumstances is a transaction caught by the legislation?
Section 6 of the Competition Act (25,156/1999) provides that merger control is exercised over any "economic concentration of enterprises". This is defined as the acquisition of control over one or more companies, business units, going concerns or assets from which an independent turnover can be identified by means of:
- a merger;
- the transfer of a going concern;
- the acquisition of property or share rights (where the acquisition gives the acquirer control of or substantial influence over an enterprise); or
- any act or agreement that transfers to a party or economic group a decisive influence on the passage of resolutions that relate to the ordinary or extraordinary management of a particular enterprise.
Do thresholds apply to determine when a transaction is caught by the legislation?
Section 8 of the Competition Act (25,156/1999) provides that an economic concentration will be subject to merger control if the total business volume of the group of affected companies exceeds Ps200 million, unless a special exemption applies. For the purposes of this test, the Competition Act defines 'affected companies' as:
- the company of which control is acquired (the target); and
- the company that acquires this control.
'Total business volume' is defined as the sum that results from the sale of products and rendering of services by the affected companies during the last fiscal year related to their ordinary activities, after deducting any sales discounts, value added tax and other taxes directly related to the business.
Section 8 also identifies the group of companies for which local turnover must be taken into account for threshold purposes as follows:
- the undertaking concerned;
- undertakings in which the undertaking concerned directly or indirectly:
- owns more than half of the capital or issued capital;
- has the power to exercise more than half of the voting rights;
- has the power to appoint more than half of the members of the supervisory board, the administrative board or bodies that legally represent the undertakings; or
- has the right to manage their affairs – the right to manage their affairs is considered applicable to all situations where the relevant company exercises at least substantial influence over another undertaking (ie, the standard test to determine the existence of an economic concentration);
- undertakings which have the rights or powers listed in the second point above in the undertaking concerned;
- undertakings in which an undertaking as referred to in the third point above has the rights or powers listed in the second point above; and
- undertakings in which several undertakings, as referred to in the first to fourth points above jointly have the rights or powers listed in the second point – this provision replicates the language of the EU's Merger Regulation, but there are no specific exemptions regarding inter-group sales or joint undertakings.
However, the National Antitrust Commission has the power to review transactions that fall below the threshold and to investigate them as it would any potential anti-competitive conduct, given that the substantial test for clearance applies to all concentrations regardless of whether they must be mandatorily notified.
Informed guidance
Is it possible to seek informal guidance from the authority on a possible merger from either a jurisdictional or a substantive perspective?
Although informal guidance from National Antitrust Commission officials on a possible merger may be obtained, this opinion may not reflect the agency's eventual position on the particular case and therefore its usefulness is questionable.
A typical procedure to obtain clarification as to whether a certain economic concentration is exempt from notification (ie, a jurisdictional perspective) is a request for an advisory opinion, which is an opinion issued by the enforcement authority – after receiving the National Antitrust Commission's recommendations – on whether a certain concentration requires mandatory notification.
Resolution 26/2006 provides for a fast-track procedure, whereby:
- the commission must ask any follow-up questions within five days of the receipt of the original request;
- the parties must answer these questions within five days;
- the commission must issue its recommendation to the Secretariat of Trade within 10 days of the original request; and
- the Secretariat of Trade must make a decision within five days of the commission's recommendation.
In contrast, the request for an advisory opinion suspends the notification deadline and thus the parties can obtain this opinion without infringing the mandatory terms for filing a notification.
However, consistent with the commission's general practice, these procedures are not followed by the authorities and repeated information requests are generally made by the commission, which extends the overall review period for several months, thus making this procedure inefficient.
Are foreign-to-foreign mergers caught by the regime? Is a 'local impact' test applicable under the legislation?
The Competition Act (25,156/1999) applies to companies that undertake economic activities in Argentina (ie, through subsidiaries or branch offices) or abroad, where such activities, acts or agreements have effects on the Argentine market. In such cases, the National Antitrust Commission may consider that a foreign-to-foreign merger should be subject to notification, even if the de minimis exemption of Section 10(e) of the Competition Act would otherwise apply. Similarly, a transaction may be exempt from notification if it produces insignificant effects on the Argentine market.
The view of the authorities in this regard is to increase rather than reduce the number of transactions that are subject to notification; thus, the application of the effects test is assessed on a case-by-case basis. Further, the Argentine authorities have no jurisdiction to decide on the effects of a merger outside of Argentina.
Joint ventures
What types of joint venture are caught by the legislation?
All types of joint venture – sole-to-joint ownership, joint-to-sole ownership and a change in the structure of control in the case of a significant change from one type of joint ownership to another – are caught by the legislation insofar as they result in a transfer of control of a business or assets from one party to another that meets the criteria of Section 6 of the Competition Act (25,156/1999), which provides that merger control is exercised over any economic concentration of enterprises.
Process and timing
Is the notification process voluntary or mandatory?
Filing is mandatory, with the following exceptions:
- intra-group transactions or acquisitions of enterprises in which the acquirer already owns more than 50% of the shares or voting rights thereof. In this case the authorities require that the acquirer has had exclusive control over the target prior to the acquisition;
- the acquisition of a single enterprise by a foreign investor that has never owned shares or assets in Argentina. In the past the National Antitrust Commission has accepted the application of this exception to more than one company, provided that they were in the same line of business and subject to common control;
- the purchase of bonds and non-voting shares of liquidated companies, the latter being those with no activity in Argentina in the preceding year; and
- acquisitions where neither the amount of the transaction nor the value of the assets located in Argentina being acquired, transferred or controlled exceeds Ps20 million, unless transactions were entered into in the same market that on aggregate exceeded Ps20 million in the last 12 months or Ps60 million in the last 36 months (Article 10(e) of the Competition Act (25,156/1999)).
The National Antitrust Commission has generally interpreted the 'amount of the transaction' as the Argentine portion of it, although where this cannot be clearly identified, an alternative analysis is carried out to conclude whether this part of the test would be met. Regarding asset valuation, the National Antitrust Commission has generally accepted the information in the target's balance sheets.
What timing requirements apply when filing a notification?
According to Section 8 of the Competition Act (25,156/1999), notification must be made prior to or within one week of the date of the conclusion of an agreement, publication of purchase, exchange offer or acquisition of a controlling participation, whichever happens first.
For the purposes of this provision, the term of notification should be calculated as follows:
- in the case of mergers between undertakings, the closing date on which the definitive merger agreement is executed;
- in the case of transfers of going concerns, the date on which the sale agreement is registered with the Public Registry of Commerce;
- in the case of the acquisition of ownership or any right over shares or capital participations, the date on which the acquisition of such rights is finalised; and
- in other cases, the date on which the transaction is finalised pursuant to applicable laws.
What form should the notification take? What content is required?
All parties to the relevant transaction (ie, the buyer and seller or merging parties) should provide notification of an economic concentration by filing Form 1 and, if required, Forms 2 and 3. The contents of Forms 1 and 2 are detailed in Resolution 40, while Form 3 is tailor-made by the National Antitrust Commission according to the specific concentration.
Form 1 requires the following information:
- from the notifying parties – name and domicile, incorporation information, representatives and persons responsible for the preparation of the form, and details of shareholders;
- from the affected enterprises – a description of activities, latest annual reports and financial statements, organisational charts, a description of relevant and substitute products, the geographical areas in which those products are sold, details of the manufacturing process, market size and information on investigations into anti-competitive conduct or anti-dumping laws that involve the affected enterprises in any jurisdiction; and
- from the economic concentration being notified – a description and main components of the concentration, transaction documents and details of other foreign merger control authorities to which it has been submitted for approval and the status of such proceedings.
Form 2 focuses on gaining further information on the relevant product, supply-side and offer-side substitution, the relevant geographic market, qualitative and quantitative market information, production costs and efficiency gains. However, in practice, most filings – even if made under Form 1 – are subject to an additional set of questions that place it closer to a second-stage proceeding.
Is there a pre-notification process before formal notification, and if so, what does this involve?
The only existing pre-notification alternative is the advisory opinion (ie, an opinion issued by the enforcement authority – after receiving the National Antitrust Commission's recommendations – on whether a certain concentration requires mandatory notification). However, given its voluntary nature, it cannot be strictly considered a pre-notification process.
Pre-clearance implimentation
Can a merger be implemented before clearance is obtained?
Section 8 of the Competition Act (25,156/1999) provides that the act will produce effects between the parties or in relation to third parties only once Sections 13 and 14, as appropriate, are complied with (ie, once tacit or express approval has been granted by the enforcement authority). Under Section 13, a final decision must authorise, prohibit or subject a merger to the fulfilment of undertakings; while Section 14 provides for tacit approval if no decision is issued within 45 business days.
This prevents post-closing filings or at least forces the parties to maintain the status quo until approval has been granted. However, in practice, the National Antitrust Commission has interpreted this provision as a subsequent condition (ie, the transaction produced effects until subjected to undertakings or until it was prohibited).
A conservative approach would advise entering into hold-separate arrangements or, at a minimum, the de factoimplementation of such agreements (ie, avoiding the appointment of new directors or managers and not changing the target's commercial policies) until clearance, at least in transactions entailing substantial merger control risks.
Although the Competition Act does not foresee penalties for notifying parties that close a transaction before clearance, a reasonable interpretation of this would be that penalties could be applied under Section 1 (which covers anti-competitive acts in general) and Section 7 (which sets out the substantive test for clearance), as any activity performed by the affected enterprises during that period would be deemed as if made by independent parties. In this scenario, a separate investigation would be required. Further, injunctions may be issued by the competition agencies or the courts that suspend the effects of economic concentrations subject to review.
Guidance from authorities
What guidance is available from the authorities?
Resolution 40 describes the procedure for the notification of economic concentrations, including the relevant definitions needed to understand the scope of the standard template notification forms included therein and the first and second stage notification forms (ie, Form 1 and Form 2).
What fees are payable to the authority for filing a notification?
No fees are payable. The 2014 amendment to the Competition Act (Act 26,993/2014) eliminated the option for the enforcement authority to have its own budget and set fees for proceedings that fall under its remit (eg, in the case of merger filings).
Publicity and confidentiality
What provisions apply regarding publicity and confidentiality?
In principle, the process is not made public (with the exception of final resolutions of the National Antitrust Commission and the Secretariat of Trade). Only the notifying parties have access to the filing and the public officials handling files at the commission and the secretariat must maintain the confidentiality of this information. Failure to do so may subject the official to civil and criminal liability.
As regards the protection of commercially sensitive information, the notifying parties may request that data, reports or documents contained in the filings remain fully or partially confidential, in which case they must prove at a minimum their confidential nature and that under no circumstances would this information be advantageous to the investigation conducted by the commission. Further, the parties must provide a non-confidential summary of such information to make it available for inclusion in the final decision.
If the commission decides not to grant confidentiality, it should notify the affected party to allow it to decide whether to withdraw the information from the file within five days of receiving the notification or waive the confidentiality request.
Are there any penalties for failing to notify a merger?
Section 46(d) of the Competition Act (25,156/1999) provides for the imposition of fines of up to Ps1 million per day of delay in reporting a merger. In this regard, Section 47 of the act provides that legal entities are liable for the conduct of individuals acting on their behalf, while Section 48 makes them jointly and severally liable with the company for payment of the fine.
The National Antitrust Commission and the Secretariat of Trade actively enforce late filing fines, the most notable example being the Ps104 million fine imposed on Telefónica SA in 2013.
Procedure and test
Procedure and timetable
What procedures are followed by the authority? What is the timetable for the merger investigation?
The submission of Form 1, and Forms 2 and 3 if required, is followed by numerous requests for information issued by the National Antitrust Commission. These requests are generally simple at the beginning of the proceedings, but become longer and more complex as the process progresses. Further, at any point in the process the notifying parties can present other relevant information, which will generally be considered by the authorities.
Although the 2014 amendment to the Competition Act (Act 26,993/2014) removed many of the National Antitrust Commission's former powers, it still has wide-ranging investigative powers, which are exercised according to the complexity of each merger. Simple mergers may be decided on the basis of the information presented by the notifying parties and public information, while more complex mergers may also involve hearings with competitors, customers (through a public hearing) and suppliers, and even compulsory requests for internal documents from the notifying parties and third parties.
The commission has 45 business days from the initial filing to issue its final resolution. However, the Secretariat of Trade is authorised to extend this period for a justifiable reason. In practice, the commission almost always considers the information submitted by the parties as incomplete, thus suspending this term repeatedly and extending the effective review term to up to 18 months or more.
Section 13 of the act also provides for a waiting period of 45 business days, after which the transaction is deemed to have been tacitly approved. However, due to the way that the commission applies suspensions to the review term, a transaction will rarely lack a written decision that would allow it to be considered to have been tacitly approved.
What obligations are imposed on the parties during the process?
The parties must cooperate with the authorities and provide all information that the former considers to be relevant. This obligation is reinforced by the Competition Act (25,156/1999), which provides for the termination of the proceedings if the parties do not comply with an information request after 30 working days. Further, the National Antitrust Commission may also consider non-compliance as a means of obstructing or impairing an investigation; this conduct is subject to daily fines of up to Ps500. The termination of proceedings and the application of fines are not automatic, as the law provides that the alleged infringer must be given the opportunity to provide explanations and evidence in its defence.
Section 8 of the act provides that acts will produce effects between the parties or in relation to third parties only once tacit or express approval has been granted by the enforcement authority. Therefore, a conservative approach to the act would avoid any act or conduct that could be deemed as gun-jumping by the authorities, despite the fact that the commission has rarely enforced gun-jumping practices.
What role can third parties play in the process?
During the review process, the National Antitrust Commission may conduct testimonial hearings with competitors, customers or suppliers of the affected companies, as well as public hearings in which consumer and industry groups can participate and put their case forward. In principle, third parties cannot be party to merger proceedings or appeal final decisions. However, third parties can and have requested injunctions from the courts to suspend the implementation of a merger pending the review process.
Substantive test
What is the substantive test applied by the authority?
Section 7 of the Competition Act (25,156/1999) prohibits economic concentrations whose object or effect is or may be to restrict or reduce competition to the detriment of the general economic interest. The Guidelines for the Control of Economic Concentrations and Supreme Court decisions have integrated this last concept with that of consumer surplus.
Does the legislation allow carve-out agreements in order to avoid delaying the global closing?
Given that the Competition Act (25,156/1999) allows for post-closing filings, global closings need not be delayed. Due to the contradiction that arises from the provisions that suspend the effects of the transaction in Argentina until clearance, carve-out agreements seem ideal. However, in cases with little or no competitive effects, they may not be needed based on existing National Antitrust Commission practice.
Test for joint ventures
Is a special substantive test applied for joint ventures?
No. If the joint venture results in a transfer of control of a business or assets, the standard substantive test (ie, Section 7 of the Competition Act (25,156/1999)) will apply.
Potential outcomes
What are the potential outcomes of the merger investigation? Please include reference to potential remedies, conditions and undertakings.
Under Section 13 of the Competition Act (25,156/1999), the potential outcomes of the merger investigation may include:
- the approval of the transaction;
- the imposition of conditions or undertakings to be fulfilled; or
- the prohibition of the transaction.
Undertakings are generally structural or behavioural. Most structural remedies have been imposed in horizontal cases, where the degree of concentration in the relevant market was considered excessive and the authorities sought to restrict the effects of the transaction as much as possible. The authorities are generally inclined to discuss undertakings with the parties, which the 2014 amendment to the Competition Act (Act 26,993/2014) has formally incorporated therein.
Behavioural undertakings can adopt many forms, including:
- the amendment of clauses in the documents relating to the notified transaction;
- non-discrimination warnings, normally within vertical cases where there may be a risk of restrictions in the sale of particular items to competitors of the merging parties downstream or warnings against tying practices; and
- not increasing market share in the given market for a certain period.
In certain cases, behavioural undertakings have been drafted in broad terms by the authorities, even extending into areas other than competition law. The determination of whether these have been fulfilled by the parties has become a challenge.
Right of appeal
Is there a right of appeal?
Yes. The parties to a transaction have the right to a judicial review of decisions that block a transaction or impose undertakings on the parties.
Appeals must be filed before the enforcement authority within 10 business days of notification of the resolution. The authority must transfer the file to the National Court of Appeals in Consumer Protection Matters – created by the 2014 amendment to the Competition Act (Act 26,993/2014) – or the corresponding federal court of appeals in the provinces within an additional 10 business days of filing the appeal. At present, the courts of appeal have not been created and consequently in Buenos Aires the courts that will hear an appeal are:
- the National Court of Appeals on Civil and Commercial Matters; and
- the National Court of Appeals on Economic Crimes.
The judicial review is unrestricted in scope and does not suspend the effects of the relevant orders or resolutions concerning cease-and-desist orders and resolutions prohibiting economic concentrations or making them conditional on certain undertakings.
As per the 2014 amendment, appeals against the imposition of fines no longer have suspensory effect, as it is compulsory to file evidence of payment of the fine jointly with the appeal brief under penalty of immediate dismissal, except where there is a risk of irreparable damage to the appellant.
Do third parties have a right of appeal?
This right is not specifically foreseen in the Competition Act (25,156/1999). However, according to the relevant case law, third parties may eventually appeal a decision that they perceive has unfairly affected their interests. In such cases, the results of an appeal will rest on whether the decision challenged caused the plaintiff a concrete injury.
In the Quilmes/Ambev merger proceeding, Isenbeck – a competing beer company – requested that the National Antitrust Commission allow it to act as a third-party plaintiff in the case. The petition was rejected by the National Antitrust Commission and the National Court of Appeals on Civil and Commercial Matters. Nonetheless, the court suggested that Isenbeck might appeal the Secretariat of Trade's final decision and that the plausibility of such an appeal would depend on whether the decision caused the plaintiff a concrete injury. The transaction was later approved, subject to undertakings, and was then appealed by Isenbeck and a member of the National Congress. The appeals were dismissed for failure to prove irreparable damage, but the Commercial Court of Appeals left open the possibility of a third party initiating amparo proceedings (ie, an expeditious constitutional action available when other judicial means have been exhausted). As a result, several amparo proceedings have been filed in this and other cases, causing additional delays to the affected merger review process.
Time limit
What is the time limit for any appeal?
The term in which to file appeals of final decisions from the enforcement agency is 10 working days.
Law stated date
Correct as of
Please state the date as of which the law stated here is accurate.
May 1 2015.


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Why Your Congregation is Not Really Yours
Joe McKeeverJoe McKeever says he has written dozens of books, but has published none. That refers to the 1,000+ articles on various subjects (prayer, leadership, church, pastors) that can be found on his website -- joemckeever.com -- and which are reprinted by online publications everywhere. His articles appear in a number of textbooks and other collections. Retired from "official" ministry since the summer of 2009, Joe stays busy drawing a daily cartoon for Baptist Press (www.bpnews.net), as an adjunct professor at New Orleans Baptist Theological Seminary, writing for Baptist MenOnline for the North American Mission Board, and preaching/drawing/etc for conventions and churches across America. Over a 42 year period, McKeever pastored 6 churches (the last three were the First Baptist Churches of Columbus, MS; Charlotte, NC; and Kenner, LA). Followed by 5 years as Director of Missions for the 135 SBC churches of metro New Orleans, during which hurricane katrina devastated the city and destroyed many churches. Joe is married to Margaret, the father of three adults, and the proud grandfather of eight terrific young people. He holds degrees from Birmingham-Southern College (History, 1962), and New Orleans Baptist Theological Seminary (Masters in Church History, 1967, and Doctorate of Ministry in Evangelism, 1973). Joe's father was a coal miner who married a farmer's daughter. Carl and Lois McKeever, both of whom lived past 95 years of age, produced 6 children, with Joe and Ronnie being ministers. Joe grew up near Nauvoo, Alabama, and attended high school at Double Springs. Joe's life verse is Job 4:4, "Your words have stood men on their feet."
- 2016 Jul 20
"Christ loved the church and gave Himself for her… For we are members of His body, of His flesh and of His bones" (Ephesians 5:25,30).
It's His church.
It's important for pastors to keep reminding themselves there were good reasons why God did not give them ownership of the flocks which they are tending.
"… that He might present her to Himself a glorious church" is how Paul puts it (Ephesians 5:27).
"… that we might show forth the praises of Him who called you out of darkness into His marvelous light" is how Peter put it (I Peter 2:9).
"… as firstfruits to God and to the Lamb" is how John put it (Revelation 14:4).
The congregation belongs to Christ. Not to its pastors.
The pastor must keep reminding himself. "They belong to the Lord. Not to me."
–They were not given you as an audience for your preaching. They are that, but this is not their primary purpose. So, when they come to hear you and then get up and leave, you may be tempted to see this as God's plan. It isn't. They are to be far more than an audience.
–They were not given you as a laboratory for your ideas and experimentations. You will be able to present your ideas and programs to them, and from time to time will develop ministries which God may use far and wide. But you must not make the mistake of thinking God put these people there for you. They are the sheep of His pasture and are there for His purposes.
–They were not given as a team for your wonderful quarterbacking, to display your gifts of leadership. You will be their leader–or at least, one of them–and if you do it well, they will follow you and you will grow in leadership abilities. But they were not sent as your team. They are the people of God, a holy nation. A royal priesthood.
–They were not given as your cheering squad, to support you in your starring role. Scripture commands them to obey their leaders and submit to those having the rule over them in the Lord, but you must not let that go to your head. God has far bigger purposes in mind that your ego-enhancement or your pumping up your resume.'
–They were not given as critics of your sermons. Human nature being what it is, some of them will criticize your sermons. And sometimes you will need what they offer. But they are not sent for this purpose and they should tread softly on this quicksand of sermonic-evaluation.
A great congregation will do marvelous things for their pastors. They may send him to the Holy Land and fund his education and endow his overseas ministries. They may respond to the pastor's leadership so beautifully that the denomination takes notice and suddenly the minister is invited to address large conferences and to write books.
The minister so blessed will be handed a new set of temptations, enticements rarely given to other colleagues in the ministry. He will be tempted to think of the congregation as a means to an end. That "end," of course, is his own glory and recognitions. And that would be a serious mistake.
Let the successful pastor never forget that first and foremost, before all and after all, he is the undershepherd of the Lord's flock and he must be out there ministering to them.
The lest he ministers to them–that is, the fewer and fewer contacts he has with the hurting and the needy, the hungry and the wayward–the more he strays from his calling and veers into the land of egotistical quicksand.
The people are the Lord's and according to Hebrews 13:17, pastor, you will someday stand before the Lord and give account for them.
Let that scare you and challenge you.
They are the sheep of His pasture.
They are the people of God. They are His people and the sheep of His pasture (Psalm 100:3). They are His lambs, His sheep (John 21:15-17). The bride of Christ. His own body (Ephesians 5). A chosen generation, a royal priesthood, a holy nation. His own special people. (I Peter 2:9-10).
They are not to be trifled with, not to be neglected, and not to be dismissed or mistreated or abused.
They are to be handled with care.
A shepherd with a true pastor's heart will frequently pray the prayer of Solomon: "Lord, give to Your servant an understanding heart (that I may be able to lead) this great people of Yours" (a slimmed-down version of I Kings 3:9).
The people of God are a mixed multitude who will drive their shepherd to the nuthouse unless he allows them to drive him to his knees on a daily basis.
Pray or quit, pastor. (That's Luke 18:1.)
Many a pastor has learned the lesson given to Moses in the wilderness, something he ended up having to relearn repeatedly: "They belong to the Lord, not to me. They are the Lord's problem, not mine."
He alone is adequate. (See 2 Corinthians 3:5 and rejoice.)
At the end, the pastors will account to the Father for the care they gave to the flock. That's Hebrews 13:17 and it strikes terror into the heart of pastors who take God's word seriously. (Is there any other kind? Alas, yes.)
"Lord, bless your church with pastors who are strong and courageous as well as wise and tender at the same time. Give us pastors who will tell the truth but do so in compassion and kindness. Who will speak the truth in love, and love the people of God in truth. Amen."
Publication date: July 20, 2016

subset: commoncrawl


text:
What is private label? Private label is basically our chocolates with your company name on it. It doesn't specifically have to be your company name, you can also do a custom label for a special event.
The benefits of Private label and custom branding: While we have worked hard to define the "URGE" brand as local gourmet, handmade chocolates and confections company. You can share in our experience by utilizing our expertise and fine foods brand by adding your name or special event title to it. So how does it work? You have several options….
Contact Us: To ensure we are all on the same page and your expectations / vision are met, let's talk. We can define what you want to do and if it's feasible from a production standpoint. Not all projects are created equal so we need to define the scope of the project. Call us: 604-839-5977 or email: [email protected]
First and foremost, what do you want to do? A private label, utilizes our recipes, equipment and already identifiable taste with your name on it via label. We provide you with the basic label requirements in a PDF format to fit our packaging and you design your label, print and supply us with the finished labels. OPTION 2, You can work with our design team and we'll create the label for you, easy right?
Custom branding: Not that different from private label BUT you want to add more of your own flare to the end product. What we mean by that is, this is the full package. Custom labels, packaging and displays. You can even go the extent of us creating a custom chocolate for you, with your ingredients or recipe. Yes, we offer recipe development. Most people choose to go the private label route as there is much less cost and work involved but it's an option available to you.


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I definitely did the "affair down" thing. My AP accepted my brokenness. He fostered it, encouraged it, welcomed it with open arms. I didn't have to function. I could just be broken, and that was fine.
My AP is also a twice divorced alcoholic who has little-to-no relationship with his kids. He is, in effect, very much so like my father. I knew of all of his brokenness, so it created a safe space for me to allow myself to wallow in those behaviors, escape from the life in which I was expected to be strong & whole.
Anyway, with time, distance, & a healing brain, when I look back at the A, "WTF was I thinking?" is my near-constant refrain. I knew the whole time that I would never, ever want to be with that person for real, but I still took absurd risks & did things that would crush my family's soul.
My latest assessment of it is that I chose an AP that reflected me at the time. He was me. I used to resent his ability to live like that all the time....I would get absurdly jealous of that fact. *That's how f*cked up I was--I was actively jealous of a lifestyle that centered around drinking 6-12/night & only doing what was necessary to get by enough to fund that habit.
I am so grateful to be out of that place. It was dark & ugly & nowhere I want to find myself again.
My best thinking brought me to SI.
Anyway, with time, distance, & a healing brain, when I look back at the A, "WTF was I thinking?" is my near-constant refrain. I knew the whole time that I would never, ever want to be with that person for real, but I still took absurd risks & did things that would crush my family's soul.
I haven't followed all of your posts, but this seems like a huge and positive step for you! Congrats on reaching this point!
Yes I affaired down in every way. Looks, personality, he was someone I would never want to be with in real life. One of BHs most recent anger fits was him repeating the word "disgusting" over and over and over and over, and it was horrible. It's so true.
I had told BH early on that if someone more attractive than me came on to me at all I'd most likely retract because I'd be intimidated and it would feel more wrong at the onset. When I became "friends" with AP, I wasn't attracted to him so it was ok. And I think since he was below me on the looks scale (hope that doesn't come across too conceited...), his compliments and attention to me came on extra strong, which is what drew me in. It really could have been anyone, he was just the only scumbag around at the time.
OM could practically smell my broken, he got off on it. He had all sorts KISA issues going on, wanted to save me and fix me. He turned out to be a complete psycho too. Had to call the police on him in the end.
He wasn't good looking either so there was no physical attraction on my part. I just wanted the attention. Like Jovie said, it didn't matter to me who it was. He could have been anyone.
Chin up. Unwavering. Fight. We can do this.
The further I get away from my last contact with AP, the more I also get to the "WTF was I thinking??!" phase. The risks I took were unfathomable for such shallow reasons. It truly feels like a different person did all that. I'm appalled at my behavior.
I've read again and again how BSs don't understand how the A can't be about them. How could the WS still love them and do all this? Believe me, it really is possible. I never stopped loving my BS, I just also fell in love with the feeling of being 22 again and as a result acted like an adolescent with extremely poor judgment. Classic mid-life crisis.
[This message edited by familyfirst at 2:04 PM, April 25th (Friday)]
OM could practically smell my broken
YES! They can. It reminds me of this line from Tina Fey's prayer for her daughter in Bossypants:
"May she be Beautiful but not Damaged, for its the Damage that draws the creepy soccer coachs eye, not the Beauty."
That is 100% true.
Split, you sound so good. I'm happy (and jealous) of your rapid progress.
Thanks, but trust me, it's not rapid progress. My healing started in September 2012 when I finally got help & started Zoloft. That helped me make a lot of the changes, but I only started really healing once I tapered off & got back to the feelings aspect of things.
It's still a long road from this point, and I am "cheating" a bit because I'm focusing on fixing me without the stressors of setting off the A bomb in my M via confession. But I'm taking the "one thing at a time" approach; I need to be able to handle it & not hide should I end up going that route.
I actually ended up here shortly after I weaned off my Zoloft. I don't think that's a coincidence. My first post here was three months after I'd stopped the A, but I was mourning the loss of the "relationship," still wanting to get sucked back in. I got some very much needed 2x4s to stop that shit, take a hard look at how I was framing things,embrace indifference, and break the addiction for real. That was helpful beyond measure, and since that point, SI is the kick in the ass reality check that I need to stay the course, focus on fixing my brokenness, & really heal for the first time in my life. I am determined to do this.
My exbfs are a bunch of idiots, I've bounced from one toxic relationship to the next since I was 16. They weren't the problem though, I was.
Hell even my BH was attracted to the broken. When we met I was the one with my shit together. I saved him. Turns out, I was just better at hiding my broken than he was and he sorted himself out before I did.
[This message edited by BrokenButTrying at 9:34 AM, April 25th (Friday)]
When BS say, "They always affair down," my perception is that they're saying, the OP in their sitch was a step (or several) down from themselves. That their spouse/partner chose an AP who was inferior to them. And yeah, that's hard to disagree with, because regardless of a cheater's looks, brains, wealth, or charm...we can't hold a candle to a faithful partner of any shape, size or socioeconomic status.
But is this what you're asking? Did you affair down, in comparison to your spouse/partner, or relative to yourself? Clearly compared to my BH, who has never once lied to me, who is generous, brilliant, compassionate, and gorgeous, I affaired down. Any man who deliberately takes another man's wife is a waste of skin and oxygen. Compared to myself? IDK, I affaired laterally in terms of morals, clearly, and OBS probably wish I'd rot in hell. On paper, both APs are intelligent, accomplished, well-known and highly-regarded men. Aside from in physical attractiveness (objectively, if that's possible), they both affaired down, WRT external factors.
In the end, does it matter? Whose signature reads something like, an affair is merely bullshit between two selfish people? Affair up, affair down, it's all window dressing. APs could've been anyone. Maybe they were the aggressor, maybe we were. Fact is, we made horrible choices and now are seeking redemption. Onward and upward.
Splitintwo, you're doing great, keep it up.
I got some very much needed 2x4s to stop that shit, take a hard look at how I was framing things
Umm...you're welcome?
Me too. Pay it forward.
Because, seriously. Anyone that is actually worth having is not going to be interested in someone who's going to be cheating. People who have their shit together are not going to be an AP.
So that only leaves one option. That the wayward is the bottom of the barrel and the only people who are going to be giving a potential wayward any attention are right down at the bottom of the barrel too.
It's that realisation which helps waywards de-fog, stop romanticising the AP, etc.
[This message edited by BrokenButTrying at 10:46 AM, April 25th (Friday)]
Part of the journey and all that.
Done thinking about my AP.
I'm done thinking about my AP, but not my A. I need to understand that because right now, at this moment, the prospect of an A is not something I would do. Ever. But that's clearly not true, as in my not-so-distant past, I did just that.
For me, it's like BBT said here:
It's that realisation which helps waywards de-fog, stop romanticising the AP, etc....it can be an important realisation or an 'ah ha' moment for some waywards. Part of the journey and all that.
As for 20WrongsVs1's question: "But is this what you're asking? Did you affair down, in comparison to your spouse/partner, or relative to yourself?"
I was looking at it from the "relative to what I would look for in a partner" POV. When I tick of my AP's qualities against that list, practically every one is a "not it." And in my present state of mind, I get that, I see it clearly, and I have no urge to go back to it whatsoever.
I did see the thread on the main forum, but I don't post there & wouldn't even want to post this question without the stop sign here. Like BBT noted, it was an "ah-ha!" moment. I knew the A was indicative of my broken, but how? Why would that "work" with my brain in any state, because it sure as hell doesn't coalesce with a healthier brain space. Then the pieces started falling into place & I understood my why, what made that situation "attractive" to me at that time. It doesn't make it right or excuse the behavior, but it does give me some perspective.
I had better luck with detaching from the A/AP by focusing on what was missing within myself -vs- trying to figure out what AP was all about (or wasn't all about).
If it helps you to process and find your 'why', then it's all good!
I have come to realize that the APs also affaired down with me. I was older, more "stuck" in my life, boring, not having much sex, withdrawn from friends, etc. The APs thought that they were helping or reaching down to me as much as I thought I was "saving" them.
I understand that we were both broken. The reason we carried on an A was that she propped me up, and vice versa. Splitintwo, your question seems to point to this same relationship. For me, we BOTH betrayed our M and family. I think we were both just as terrible as the other.
I'd be willing to bet that all As are not like this. I don't quite know if this realization helps me out or not. It makes me feel like less of a scumbag predator than I used to. But like 20Wrongs said, it ultimately doesn't matter.
The further I get away from our last contact, the more I also get to the "WTF was I thinking??!" phase. The risks I took were also unfathomable. It truly feels like a different person did all that. I'm appalled at my behavior.
I just also fell in love with the feeling of being 22 again and as a result acted like an adolescent with extremely poor judgment. Classic mid-life crisis.
Wow that so describes me. I still can't believe what I did to my BH and to myself. The situations I put myself in were so degrading and dangerous. I let xap control me for almost 4 years. I was 18 when I dated him the first time and I seriously felt 18 again. With the total lack of judgment that goes along with it.
But seriously the xap couldn't hold a candle to my BH. My BH is a great dad and family man. He is well respected in our church and totally adored me. Oh did I mention how BH totally threw me under the bus on D Day.
Xap had multiple children from several women who he never even kept in contact with. His family despised him and he was a classic joke hitting on girls half his age whenever we were out together.
On D day, I immediately knew that I wanted to work it out with BH and gave it 110%. I may have thought about xap and mourned what I thought we had, but it doesn't compare to a BH who loves me through everything that happened.
So yes, I affaired down to my BH and to myself.
All I can do now is live and learn!
[This message edited by finallyfree2011 at 1:41 PM, April 25th (Friday)]
D day - July 2011 after a 4 year relationship with OM
Reconciled and renewed our vows on our 22 Anniversary in June 2012


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Currently 2.50/512345 Rating: 2.5/5 (Total votes: 8)
Rating: 2.5/5 (Total votes: 8)
What's New in This Release:
· Mobile Alert Live - A new service for real time reporting and receiving locations of speed cameras. It is now also possible to confirm displayed cameras
· Traffic events on route can be read by a TTS voice
· EULA and privacy statement
· Bug fix
What's New in 4.8.0:
· New graphic support for Full HD devices (Galaxy S4, HTC one etc.)
· General graphic improvements for all devices (sharper images, zoom level)
· List of Glympse recipient shows now who watched the Glympse
· EnergySaver enhanced for general map drawing
· Bug fix (Zoom, map drawing after phone call)
What's New in 4.7.1:
· An additional EnergySaver setting - "Reduced frame rate when no instruction is available" - has been added. This function is the new default for EnergySaver
· Bug fix: Default setting for "Use GPS when app is in background" is set to "off" again
· Bug fix: GPS turned on automatically after app was closed
What's New in 4.7.0:
· Foursquare: Search for recommended locations from the Foursquare community and check in at your arrival
· Glympse: Send your current location during a pre-defined time to selected contacts via SMS or mail. The Receiver only needs a web browser to see where you are
· Wikipedia locations: The locations mentioned in the Wikipedia mobile database have been added as a new POI category. You may also read the related articles
What's New in 4.6.2:
· Bug fixes
» show more


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The lovely people at CLEO B contacted me a little while ago stating that they would like to send me a Christmas present. I did a little squeal, sent them my address and waited with excitement because I love their site.
A few days later this cute Christmas card arrived along with a gorgeous pink robot design travel card holder*. These card holders are super good quality, 100% leather and not too badly priced at just £12.
There are four design options, all of which are a collaborative project between CLEO B and artist Sam Kirk.
I did a little 'awr' when I read my card. It is always so sweet when firms actually read your blog. Thank you so much team CLEO B, I will definitely use this on my future London trips and also to keep my bank cards/ID safe on a night out.
The travel card holders come in a choice of five colours and four designs, they can be purchased here for £12. Order by 12pm on Friday 20th December for guaranteed Christmas delivery.


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DIY: How to Clean a Microfiber Couch!
Tired of looking at a stained couch from sticky fingers and spilled food? Check out this DIY on How to Clean a Microfiber Couch!
You will need:
- Spray Bottle
- Sponge
- Scrub Brush
- Rubbing Alcohol
Find the full tutorial from 551 East!
Plus, don't forget to follow MOJO on Pinterest, where you can find more great recipe and DIY projects!Mojo's Facebook , Instagram, Twitter and Pinterest and catch all our deals!


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Results 1 to 2 of 2
03-18-08, 10:09 #1Registered User
- Join Date
- Sep 2003
- Posts
- 49
Unanswered: Postgresql/SQL Server linked server issues
I am trying to access a postgresql procedure from a sql server 2000 server via a MSSQL linked server connection and I am getting the following error:
" OLE DB error trace [OLE/DB Provider 'MSDASQL' ITransactionJoin::JoinTransaction returned 0x8004d00a].
Msg 7391, Level 16, State 1, Line 2
The operation could not be performed because the OLE DB provider 'MSDASQL' was unable to begin a distributed transaction."
I installed the latest Postgresql ODBC drivers on the server and also verified that I can access the Postgresql system from ODBC.
Is there a way to resolve this issue or is there a better way to connect to Postgresql from SQL Server.
Thanks in advance for the help.
03-18-08, 13:23 #2Super Moderator
- Join Date
- Jun 2004
- Location
- Arizona, USA
- Posts
- 1,848
Could you show us the SQL statement you are using which results in the error?
(You are using 4 part naming?)
select * from LinkServerName.pgDatabaseName.pgSchemaName.pgTableName
Last edited by loquin; 03-18-08 at 13:35.Lou
"Lisa, in this house, we obey the laws of thermodynamics!" - Homer Simpson
"I have my standards. They may be low, but I have them!" - Bette Middler
"It's a book about a Spanish guy named Manual. You should read it." - Dilbert


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Callie J.
Charlottesville, VA, 22904
Joined on October, 2013
Gender: Female
Average Rating:
Mon/Wed/Fri after 2PM
Tuesday in the morning
Thursday in the morning
Sunday at any time
Tuesday in the morning
Thursday in the morning
Sunday at any time
Lives Near:
Can Meet:
Up to 10 minutes away for no additional charge
EducationFirst Year at University of Virginia, Pre-Med
Experience-Have tutored for 4 years previously
-Worked with children in a variety of jobs (i.e. summer camp counselor, nanny, teen board member of non-profit organization for keeping children safe in the community)
-5's on all AP tests taken (English Literature, English Composition, World History, United States History, Calculus AB), 33 on ACT
-Salutatorian of my high school
-Have conducted personal research and presented it at local, state, and international fairs
HobbiesAs a tutor, I consider myself effective, enthusiastic, and engaging! I love working with kids, and I love seeing the "light bulb" go off when they understand a concept or the joy they get from an "A" on a test even more.
Inquire about this tutor
The tutor will respond if they are available/interested.


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LockTechs is a mobile locksmith company that provides fast and efficient locksmith services like in San Diego and surrounding areas.LockTechs locksmith San Diego technicians use various door-opening and repair tools to effectively help people access their cars, homes or offices when they get locked out or misplace their keys.\nhttp://locktechsandiego.com/
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
LockTechs is a mobile locksmith company that provides fast and efficient services in San Diego and surrounding areas. For many years, we have been providing services in this area and have established a great reputation due to our quality workmanship and affordable rates.
Our locksmith San Diego technicians use various door-opening and repair tools to effectively help people access their cars, homes or offices when they get locked out or misplace their keys. Additionally, our locksmith experts have the resources to install high-security systems on residential, automotive and commercial properties.
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LockTechs provide many types of locksmith services such as 24/7 emergency locksmith, so no matter what time of the day this happens, you can rest easy knowing they will be over as soon as possible to resolve the issue. You don't have to wait and wonder, LockTechs are your emergency locksmiths in San Diego.
LockTechs offers a variety of automotive locksmith services, and if you call them, it's problem solved. LockTechs automotive locksmith services can provide car key replacement, repair or replace your car ignition keys and even help you in an emergency situation access your keys locked in your car.
Why would you need to look for a commercial locksmith in San Diego? Well haven't we all been locked out and wished we had the number of a reliable locksmith that was open late? Well it makes sense to prepare for this and other potential times when you'll need the services of a commercial locksmith. So, when you find yourself locked out of your office and need a locksmiths assistance in San Diego, contact LockTechs Locksmith Services at (619) 202-1168.
Losing a set of keys and not knowing where they are can be troubling enough as it is and it doesn't matter whether it is your car, your office or your home. When you already know where the keys are but you can't access them, in other words, they are locked inside the building, it is time to get on the phone and call for some help. For more information on residential locksmiths in San Diego Ca, contact LockTechs locksmiths at [email protected] or Call (619) 202-1168
Mobile locksmiths have the added advantage of being able to offer a full range of services anywhere they go. When you need a mobile locksmith in San Diego, it's not always just about a locked door. Occasionally keys break inside locks, or the customer just needs new locks altogether. Special security keys used by some cars have to be programmed and matched to that specific automobile in order to open doors or start the ignition.
North County Locations:
San Diego Locations:
East County Locations
South County Locations
Contact Person: David Myzel
Business Name: LockTechs San Diego
Address:4140 Alpha St, San Diego, CA 92113
Zip Code:92113
Business Email:[email protected]
Phone:(619) 202-1168


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Real Soccer 2009
"The most massive and impressive soccer game I've played yet." – MobileGamesFAQS, a benchmark source in mobile gaming.iPhone finally gets the sports simulation that soccer fans have been dreaming about!Plunge into the atmosphere of the greatest soccer matches:- Easily perform the most amazing soccer moves with the touch screen.- Real-time multiplayer mode to go head-to-head with friends over Wi-Fi.- 198 teams with real players' names thanks to the FIFPRO license.- 3D graphics worthy of the best handheld soccer games.- Play throw-ins by tilting your iPhone!- 12 stadiums entirely modelled in 3D.Play the season to the max on your iPhone!Are you a Real Soccer fan or you want to know everything about this game? Follow us on Twitter: http://twitter.com/real__soccerPublished and distributed by Gameloft.


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Jan 29 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings analysis shows that the global systemically important banks (G-SIBs) have essentially met their Basel III capital requirements early, with an average Basel III Tier 1 common equity (CET1) ratio of 10.1% at the end of Q313, according to a new report based on data available for 27 of the 29 banks. The Basel III requirements will not formally take effect until the beginning of 2019.
For the G-SIBs as a whole, the average minimum CET1 ratio requirement was 8.4%, depending on their firm-specific required capital buffers, with an average additional capital buffer of 1.7%. The average Basel III CET1 ratio was comparable across Europe, Asia and the U.S., at 10.2% for European G-SIBs, 10.1% for Asian G-SIBs and 10.0% for the U.S. institutions.
In a previously published study, Fitch estimated that the G-SIBs, as of end-2011, faced a cumulative capital shortfall of approximately $566 billion for each institution to reach a 10% CET1 Basel III ratio.
a€˜For the G-SIBs, reaching an average Basel III CET1 ratio of 10% has been a multi-year effort focused on bolstering equity capital, primarily through retained earnings, and reducing risk-weighted assets,a€™ said Martin Hansen, Senior Director of Fitcha€™s Macro Credit Research team. a€˜An important question is whether the G-SIBa€™s ratio bolstering efforts will continue or if current levels represent a new equilibrium.a€™
Several factors could affect these ratios going forward. Scepticism around risk-weightings could have consequences, with the European Central Banka€™s asset quality review potentially resulting in adjustments to risk-based capital ratios. Additionally, some G-SIBs have already announced higher target ratios well above 10%, and the implementation of the leverage ratio, if acting as a binding constraint rather than as a backstop, could also push Basel III CET1 ratios even higher. On the other hand, a potential limiting factor is the pressure for banks to satisfy investorsa€™ return on equity (ROE) expectations, as the hurdle rate ROE for newly originated credits becomes tougher to achieve amid stricter capital requirements.
The report is entitled a€˜Basel III Common Equity Tier 1: Early Deliverya€™ and is available on www.fitchratings.com.
Link to Fitch Ratings' Report: Basel III Common Equity Tier 1: Early Delivery


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One of the most courageous things you must do is identify yourself, know who you are, what you believe in and where you want to go.
*Sheila Murray Bethel*
Happy Sunday Lovelies!
Pray everyone is fine and had a fabulous weekend. Mine was cool, nothing exciting, but sure had a lot of rest which is always good for a working mum like myself.
Ait..this is an outfit I actually wore to church last Sunday, but didn't get to post it, due to life wahala (lol!). A vest is a must-have for any female's wardrobe (my opinion), because it add some sort of umph to an outfit. I paired it with my 'not your average' crop top (seen Here) and print maxi skirt (last seen Here) which I love. It is one of those skirt that's all weather. The volume is just right - hide a leggings underneath it, wear some boots and you're good to go through the winter season.
The outfit is simple yet so chic.
*My neighbour thought I looked good and wanted to be in the pic, lol!*
Outfit: Vest/Crop Top (River Island), Skirt (George), Heels (Hamburg Airport) and Accessories (New Look).
How do you style your vests? Leave your link in the comment box and will check you out.
Have a good day/night!
Peace & Love


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The Houston Center for Photographys annual auction is one of the highlights of the season for art lovers. Its easy to see why since the works up for sale include photos by some of the worlds leading talents, contemporary and historical. During todays Tour of the Preview Exhibition, Anne Tucker, the Gus and Lyndall Wortham Curator of Photography at the Museum of Fine Arts, Houston, and Clint Willour, curator of the Galveston Art Center, offer background information about the photographers and the images place in history.
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Among the images is Nuevo Mundo #6A by Tatiana Parcero. It shows a womans pale, bare back which has been illustrated with an old-world map in red ink. On Patrol, Iraq by Stanley Greene shows a soldier in full riot gear facing an old woman in what seems to be a narrow alley. Not all the photos are recent works; Lionel Hampton, The Hippodrome, Memphis, TN mid-1950s by Ernest Withers shows the bandleader/percussionist in full swing as he performs before a standing room-only crowd. 1441 West Alabama. For information, call 713-529-4755 or visit www.hcponline.org. Free.
Mon., Feb. 21, 2011


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GNest Apartments
Select your stay dates to check availability
GNest Apartments
About the hotel
Property Location
Located in Rhodes (Faliraki), GNest Apartments is convenient to Faliraki Beach and Water Park Faliraki. This hotel is within close proximity of Kallithea Beach and Anthony Quinn Bay.
Make yourself at home in one of the 31 individually decorated guestrooms, featuring kitchenettes with refrigerators and stovetops. Rooms have private balconies. Housekeeping is provided on a limited basis, and cribs/infant beds (complimentary) can be requested.
Rec, Spa, Premium Amenities
Take advantage of recreation opportunities such as an outdoor pool or take in the view from a terrace and a garden. Additional features include complimentary wireless Internet access and a television in the lobby.
Grab a bite from a snack bar/deli serving guests of GNest Apartments. Quench your thirst with your favorite drink at a bar/lounge.
Business, Other Amenities
The front desk is staffed during limited hours. Free self parking is available onsite.
Hotel Facilities
- Free WiFi
- Television in lobby
- Total number of rooms - 31
- Children's pool
- Terrace
- Bar/lounge
- Number of floors - 2
- Number of buildings/towers - 4
- Garden
- Outdoor pool
- Free self parking
- Front desk (limited hours)
- Snack bar/deli
- Safe-deposit box at front desk
Room Facilities
- Stovetop
- Refrigerator
- Access via exterior corridors
- Cookware, dishware, and utensils
- Individually furnished
- Balcony
- Free cribs/infant beds
- Shower only
- Private bathroom
- Limited housekeeping
- Kitchenette
- Individually decorated
- Air conditioning
Hotel Policy
Know Before You Go
- Cash transactions at this property cannot exceed EUR 1500, due to national regulations. For further details, please contact the property using information in the booking confirmation.
The following fees and deposits are charged by the property at time of service, check-in, or check-out.
- Air conditioning fee: EUR 6 per day
The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change.Show all hotel policy Show less hotel policy


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The black Revolver-8 PL Backpack from Kata brings an innovative approach to backpacks. With its capacity for a DSLR with grip and standard lens plus four additional lenses (such as a 70-200mm f/2.8, 16-35mm f/2.8, 50mm f/1.4 and 100mm macro), and up to a 15.4" laptop, the unique feature of this pack is its interior revolving lens magazine. The specially formed foam vertebrae Spine Guard provides ultimate structural protection making it sturdy and practical to use.
This bag features a padded laptop compartment which will allow you to always have your computer at hand and easily accessible. Lenses are quickly accessed from the side with a cleverly designed spinning interior pocket. The revolving lens pocket features a unique revolving mechanism that allows you to rapidly access lenses. Unzip the pocket, spin it to the lens you want, remove it, get the shot, replace and spin the pocket to the next desired lens. This device eliminates the need to remove the entire pack, place it on the ground and remove a lens. It's a time server and helps you get the shot without delay. Your camera can also be accessed from the top zippered compartment. The laptop is held in its own padded rear compartment. A side zippered compartment can be used for accessories or additional gear. All access to the pack is via zippers.
The Revolver 8 is made from durable ripstop nylon and carried by its backpack straps and supported by a waist belt and sternum strap that provides added balance while out in the field. KATA's Spine Guard MK II is a foam support and that adds structural integrity to the pack and also adds to the comfort of carrying the pack. A top grab handle is also included for quick access times. The pack also has a trolley sleeve compatible with KATA's optional Insertrolley. This allows you to slip the pack over the trolley and mount it with whatever other luggage you are transporting. Your tripod can be attached to the front of the pack using the included straps. The pack comes with a rain cover that serves more than one purpose. This two sided cover can be used for sun protection and heat deflection using the gray side for sun protection using the black side for rain protection. The gray side can also be used as a reflector in the field.
Carry your gadgets with Kata Revolver-8 PL Backpack today!
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|Home » Articles » Directory
Siote Store Glass & Windows Supplies | Phone Number
Store Address:
Mayor E. Enerio St., Poblacion 2
Oroquieta City, Misamis Occidental
The store is located beside SBU Construction Supplies Store.
Phone Number: (088) 531-1268, (088) 531-0178
Fax Number
Email Address
VAT Registration TIN: 113-766-448-000
Proprietor: Ascila S. Yew
Do you have any concern with Siote Store?
"Siote Store Glass & Windows Supplies | Phone Number" was written by admin under the Directory category. It has been read times and generated 1 comments. The article was created on .
Warning! When posting comments, strictly observe correct spelling. Avoid incomplete words such as TY (as Thank You), Pls as Please, gud as good, dpt as dapat, etc. You can comment in English or Tagalog. If you will not follow this simple instruction, your comment(s) will not be accepted or published.
|Total comments: 1


text:
|Quoting FRAspotter (Reply 1):
Once as a teenager when my parents had to go do something in the city, they literally just dropped me off at Terminal 1 for 4 or 5 hours just so I could get my dose of aviation
|Quoting airevents (Reply 2):
Munich when it comes to Europe.
|Quoting aerdingus (Reply 4):
DUB cos it's me hometown airport
|Quoting JetBlue777 (Reply 5):
On the other hand, I'm also a big fan of JFK
|Quoting LGWflyer (Reply 6):
I mentioned CLT as my favourite airport which it is, but also LGW also is because like you its my hometown airport.
|Quoting BAViscount (Reply 7):
Anyway, if you'd asked me the question 10 years ago I would have said GCI.
|Quoting BAViscount (Reply 7):
So I guess my answer now has to be LHR.
|Quoting BAViscount (Reply 7):
LGW's just not the same to me now as it was when I were a lad!
|Quoting PlymSpotter (Reply 8):
PLH in England. Plane seat to car seat in 30 seconds, five minutes from my front door by road, and only about 20-30 mins if I have to walk it.
|Quoting LGWflyer (Reply 3):
I am similar with you but at LGW, I go there for hours upon hours just enjoying the airport. I bet you had many great times at FRA! I would love to visit that airport sometime, sounds great.
|Quoting LGWflyer (Reply 9):
now LGW is full of orange!
|Quoting BAViscount (Reply 13):
Sadly the glory days of LGW seem to be long gone.
|Quoting BAViscount (Reply 13):
Piedmont, Northwest Orient
|Quoting LGWflyer (Reply 15):
Yeah I don't think LGW will ever return to the way it was. I have been recently looking at some of the older pics of LGW with all the airlines you mentioned like Braniff (now that is orange I don't mind seeing everyday haha).
|Quoting LGWflyer (Reply 15):
I think even for a while Pan Am use to come here, could you confirm that for me? Cheers!
|Quoting LGWflyer (Reply 15):
Ahh nice one, where did you fly too?
|Quoting bananaboy (Reply 14):
Can't narrow it down to one - I have a few for various reasons.
|Quoting flymia (Reply 16):
DCA for me.
|Quoting BAViscount (Reply 17):
Dude you cool!!
|Quoting BAViscount (Reply 17):
My NW flight was my first ever trip to the US, December 27th 1986 LGW-BOS on one of their 747 something-or-others, although at that time it certainly wasn't a 744!
|Quoting BAViscount (Reply 17):
exactly six months later to CLT
|Quoting LGWflyer (Reply 19):
Have you been on a 744 before?
|Quoting LGWflyer (Reply 19):
Ahh so thats when you went to CLT, I bet it was alot different to how it is nowadays.
|Quoting BAViscount (Reply 20):
my first time on a 747...it seemed so huuuuuge!!
|Quoting BAViscount (Reply 20):
but from what I understand, AI is a lot different from what it was back then!
|Quoting zrs70 (Reply 27):
Beautiful approach. Variety of old and new style terminals. Close to the city.
|Quoting LGWflyer (Reply 21):
Yeah i bet it was!!! Those 747's are huge! I still haven't got on one yet, hopefully though i'll get on one in the near future. I just thought, imagine the size of an A380 up close, wow.
|Quoting flymia (Reply 16):
DCA for me
|Quoting JetBlue777 (Reply 32):
Nothing beats the feeling of being inside the 747-400!
|Quoting JetBlue777 (Reply 32):
|Quoting JetBlue777 (Reply 32):
But still, it's one of my favorite aircraft and it's definitely one of the best looking plane out there!
|Quoting JetBlue777 (Reply 32):
And also, can't wait to see AND fly on board the 747-8 intercontinental! The 748i might be the best looking aircraft out there yet!
Military Aircraft Every type from fighters to helicopters from air forces around the globe
Classic Airliners Props and jets from the good old days
Flight Decks Views from inside the cockpit
Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior
Cargo Aircraft Pictures of great freighter aircraft
Government Aircraft Aircraft flying government officials
Helicopters Our large helicopter section. Both military and civil versions
Blimps / Airships Everything from the Goodyear blimp to the Zeppelin
Night Photos Beautiful shots taken while the sun is below the horizon
Accidents Accident, incident and crash related photos
Air to Air Photos taken by airborne photographers of airborne aircraft
Special Paint Schemes Aircraft painted in beautiful and original liveries
Airport Overviews Airport overviews from the air or ground
Tails and Winglets Tail and Winglet closeups with beautiful airline logos


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Company name
Organization TypePublic Interest
Job Type
Years of Experience
Date Last Verified
Posted on
ProfileStaff Attorney The candidate will provide legal assistance to the most disadvantaged and vulnerable members of society. Prior Legal Services experience or a demonstrated commitment to legal assistance for the disadvantaged is essential. Excellent writing and oral advocacy skills are required. Bilingual skills are preferred.
Company info


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VideoHive Presentation 3752167
After Effects Project \ Openers \ Corporate
Project \ Included \ Please \ Placeholders \ Footages \ Purchase \ Forget
After Effects Project - Presentation 3752167 by BoB1980 @ VideoHive
After Effects Project \ Openers \ Corporate
Hello, dear colleagues!
This project can apply your company, applications, presentations, your Site
Project features.
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- Great soundtrack you can find here
- Footage not included you can find here
- Font links are given in the purchase file
- Please don't forget to rate
- Please see my other projects
After Effects Version: CS5, CS5.5, CS6; File Size: 3.8mb.
Lightning Logo; 20 Title Animation; Simple Logo Reveal; Christmas Icons; Liquid Logo Reveal; Clean Logo Opener; Social Networks.
Keywords: animation, app, board, business, character, corporate, draw, explainer, hand, infographic, marketing, presentation, promo, service, website.
Download Link


text: Just wondering what keyboard (other than the slide out keyboard) you use on the D2. Been using the stock lately, but it seems to be a little too sensitive for my typing speed, and I find myself constantly fixing what I've typed. Is there one for people that type fast and is a little more tolerant (larger keys I guess) when in landscape? Or is there a way to "train" the keyboard like you can with voice? Thanks Shayne P.S. Swype is NOT an option.


text:
|Property type
Property details
Brief description
Bedroom/s: 2
Floor space: 60 m²
Next village/town: Bolzano in approx. 37 km, Center St. Ulrich / Ortisei in approx. 500 m, Santa Cristina Valgardena in approx. 6 km
Number of persons: 4-5
No pets allowed
Room/s: 3
Ski bus stop: in approx. 100 m
Ski run: Piste in approx. 350 m, Raschötz Lift in approx. 100 m, Seceda in approx. 300 m
Type of property: Property in a pension, apartment
Detailed description
Equipment: TV; internet access Wi-Fi (payment); gas central heating.
Feature: Property in a pension.
Furnishing: good, wooden floor.
Please note: Non-smoking house. Owner lives in the house. apartment, 4 - 5 people, 3 room/s, 2 bedroom/s, 1 bathroom/s, approx. 60 m², 1 floor/s, apartment on floor 1.
Room layout
Bedroom 1: double bed.
Bedroom 2: double bed.
Dining area: in the kitchen.
Kitchen-cum-living room: Kitchen/ cooking equipment: 4 ceramic hobs, dish-washer, refrigerator, coffee machine, water boiler, toaster. separate, sleeping accommodation see bedroom n° 3.
Sanitary 1: shower, WC.
Sanitary 2: separate WC.
Sleeping accommodation 3: sofa bed in the kitchen.
Access/parking: parking on the estate (roofed).
Infrastructure: washing machine (shared use, free of charge); Ski storage room (ski boot dryer).
Situation: in the village, hillside location.
Exterior (private use)
Plot description: terrace (partially roofed), furnishing provided.
Arrival: Airport Innsbruck in approx. 112 km, Airport Verona in approx. 186 km
Next village/town: Bolzano in approx. 37 km, Center St. Ulrich / Ortisei in approx. 500 m, Santa Cristina Valgardena in approx. 6 km
Public swimming pool: Indoor public swimming pool in approx. 1.6 km
Shopping: Next shopping possibility (St. Ulrich / Ortisei) in approx. 600 m
Ski bus stop: in approx. 100 m
Ski run: Piste in approx. 350 m, Raschötz Lift in approx. 100 m, Seceda in approx. 300 m
Paying per credit card incurs fees in the amount of 1% of the sum due.
Super Lage zur Rodelbahn und auch zur Serena sind es nur 200 m
Vor drei Jahren sehr schön sanierte Appartements
Nette hilfsbereite Vermieter
Zum wohlfühlen
*Plus compulsory or optional charges based on actual occupancy or consumption. The payment has to be made in the currency offered by the property manager, before use of conversion tool. Payments in other currencies have to be negotiated beforehand with the property manager. The currency conversion tool is provided for your convenience only and is non-binding.


text:
Hey! I'm a former Marine and a current Doctorate of Physical Therapy student, CrossFit Level 1 Trainer, and NSCA CSCS. My areas of specialty are anatomy and physiology (especially as it relates to exercise and sport), exercise physiology, and nutrition. If you need help in any of those subjects, feel free to shoot me a message!... ... More
I have homeschooled both my boys all the way through high school. One of my sons had a very hard time learning to read. We managed to get him through tough spots and now he reads fine. ... More
If you are looking for a K-6 grade tutor, I would love the opportunity to work with your child! I am a former middle school teacher who taught at a private school in Massachusetts before beginning my career as a published children's author. I also home schooled all three of my children from first grade through high school. In addition, I earned a bachelor's degree from Bryant University, and graduated from a two year Bible college program. I have also taken numerous CE courses at ACSI (As... ... More
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Currently I am pursuing my PhD in modern European history, with a focus on the WWII period. In addition to my years of history coursework as both an undergraduate and graduate student, I am a Teaching Assistant in my current history department. Courses I have assisted professors with, and taught lecture or discussion components in, include a survey of modern European history (French Revolution to present), the history of Nazi Germany, Europe 1914-45, and the social and intellectual history of Europe. I regularly hold office hours at Stony Brook to assist students enrolled in these courses. ... More
I have been tutoring others since early high school in math, English, and chemistry. In college my strength in chemistry prompted the department to hire me as a Workshop Facilitator (Problem Based Learning Instructor) for the general chemistry class. Working in this position for three years has allowed me to strengthen not only my depth of understanding of the various subject matters, but also my understanding of learning techniques and styles. It is important to me to encourage students in t... ... More


text:
Holley Releases Billet HP™ and Dominator™ Billet In-Line Fuel Pumps
Holley Performance Products is proud to announce their billet HP™ and Dominator™ In-Line Fuel Pumps.
Holley's new HP™ and Dominator™ In-Line Billet Fuel Pumps are designed to be the perfect companion to your carbureted or fuel injected street vehicle, race car, off-road truck, or any engine that needs fuel. These fuel pumps feature OEM gerotor technology which yields lightweight, quiet operation and 100,000+ mile durability in a cost effective, attractive package. HP™ and Dominator™ fuel pumps are gasoline and diesel compatible and can be used in racing applications with 18.5 volt charging systems up to 80 psi. The HP™ fuel pumps are capable of supporting 1,050 horsepower and Dominator™ pumps up to 2,100 horsepower to fuel just about anything.
The Dominator™ pumps feature a patent pending twin pump design that uses one pump for cruising and both pumps when it's needed. By staging the second pump, unnecessary recirculating and heating of extra fuel is eliminated, avoiding poor performance and hot fuel issues. Both pumps are fully submersible for in-tank installations.
Power Support: 12-700 HP™ 700hp (EFI), 900 (Carb) 12-890 HP™ (Hi-Flow) 900hp (EFI), 1,050hp (Carb) 12-1400 Dominator™ 1,400hp (EFI), 1,830 (Carb) 12-1800 Dominator™ (Hi-Flow) 1,800hp (EFI), 2,100hp (Carb)
For more information contact Holley Tech Service, 1801 Russellville Road, Bowling Green, KY 42101. Telephone 270-781-9741. For nearest dealer: 1-800-HOLLEY-1. Or visit them on the web at www.holley.com.


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text:
YOUNGSTOWN -- The installation of officers was a highlight of the Jan. 27 meeting of the American Hungarian Club, 2219 Donald Ave.
Inducted were Julius Cosma, president; Laszlo Nemeth, vice president; Dolores Gran, secretary; and Irene Nemeth, treasurer.
Anyone interested in membership is welcome to attend club meetings held the fourth Sunday of each month.
For more information on the club or rentals call Lee Honthy, (330) 799-5710, or Gran at (330) 799-7008.
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