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» News
Senate transportation bill funds more federal government land grabs
The U.S. Senate has approved of a $109 billion bill that provides two years of funding for transportation and transit projects around the country.
The bill may or may not be taken up by the U.S. House Representatives depending on if they choose to write a separate House bill, but hopefully what will be left out of any final version is an amendment by Montana U.S. Sen. Max Baucus. His amendment funds the Land and Water Conservation Fund (LWCF) to the tune of $1.4 billion for fiscal years 2013 and 2014 — quite a jump from the $323 million it is currently receiving in FY 2012.
Why does the LWCF need such a boost from Congress?
This Fund helps purchase and protects lands across the country. Evidently the line of thinking within the Senate is more U.S. lands are in need of being purchased and protected by the federal government.
The federal government owns almost 650 million acres of land in the U.S. That's about 30 percent of all the land area in the nation and includes national parks, forests and wildlife refuges. In other words, it's equivalent to 1 out of every 3 acres in the U.S. — 1 out of every 2 acres in the West, says Congressman Rob Bishop (R-UT), a member on the Natural Resources Committee and ranking member on the Subcommittee on National Parks, Forests and Public Lands.
And now the Senate thinks the government needs even more land.
Chuck Cushman, executive director of the American Land Rights Association located in Washington State, has dedicated his life to stopping federal land grabs and limiting trust funds such as the LWCF. He says this big boost of funds from the Senate endangers all land owners in or near federally protected lands.
Read more at NetRightDaily.com
» 11 Comments
They can come up with this but they still can't pass a budget after 4 years? Time to dissolve Congress!
Obama has shredded the Constitution anyway, so it's time to rewrite the way we do things to favor We The Producers for a change!Noteworthy Comment +10
From first hand experience – the feds patrol this land extensively and threaten, abuse, and harass anybody who even gets close.+9
Makes one wonder what is in that ground the Feds want to keep for themselves.+7
They have to have it for collateral on all of the money we are borrowing from China.
We can not drill or mine on it though — heaven forbid a bird or a tree might be in danger.+3
Federal Gov has no constitutional authority to own land. They're stealing more from us to give to who or what?+6
"This Fund helps purchase and protects lands across the country. Evidently the line of thinking within the Senate is more U.S. lands are in need of being purchased and protected by the federal government."
seriously, folks, this is PURE AGENDA 21…
(if ya don't know, you better find out fast)
that Fn POS clinton (when he wasn't wiping himself off with kleenexes) did this sh1t to us!
When they were the president, billary SUBJUGATED our fine country to the Fn UN.. signed over the whole Natl Parks over to them … REDEFINED them as World Heritage Parks … UN now decides what gets done to and around the Parks+8
Yeah, it's under the guise of Agenda 21, but Barky and Co.'s dream is to sell the land to the highest bidder after we collapse.+3
Nail on the head Nunya!
and yeah moarkdave, Obamas going to need the deed to as much land as possible when he does the land transfer debt swap, then he'll use the media to convince morons that our kids will now be debt free and to ensure the 20something dumb approval he'll tell the college kids their student loans are wiped free likewise.+3
Who SAYS CONgress' egos are as big as all outdoors?!?!+1
Congress is for us lil folk to vote for. The Senate is for the billionaires. Destroy the Senate. Representation.+1
"Acreage For Reparations!"+2


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|New American Standard (NAS)
|New International Version (NIV)
|31 "The Queen of the South will rise up with the men of this generation at the judgment and condemn them, because she came from the ends of the earth to hear the wisdom of Solomon; and behold, something greater than Solomon is here.
|31 The Queen of the South will rise at the judgment with the men of this generation and condemn them; for she came from the ends of the earth to listen to Solomon's wisdom, and now one greater than Solomon is here.
|New American Standard Bible Copyright © 1960, 1962, 1968, 1971, 1972, 1973, 1975, 1977, 1995 by The Lockman Foundation, La Habra, California. All rights reserved. (New American Standard Version - Holy Bible)
|Scripture quoted by permission. Quotations designated (NIV) are from THE HOLY BIBLE: NEW INTERNATIONAL VERSION®. NIV®. Copyright © 1973, 1978, 1984 by Biblica. All rights reserved worldwide. (New International Version Bible Online)

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I too, was hesitant to order this rug after reading the review about the smell. After reading the second review I took a chance and ordered it. And I'm SO glad I did. This rug is beautiful! It was love at first sight! There is a bit of a packaging odor but nothing that would make me send it back. It just smells like wool. This is my 4th wool rug and they all have a similar smell after being wrapped in plastic. It has already dissipated somewhat after 2 days and I expect in a week, it'll be gone. The colors are very rich. The rust is a cross between rust and brick red. The background is a rich toffee or tobacco color. There are accents of a moss green and slate blue and the border has some light beige in it. I ordered the 2 x 3 rug first to check the colors. The smaller rug does not have the beige in the border. It adds a lot to it, so I was happy to see it in the bigger rug. This rug makes the room!!!
This rug is just wonderful! I hesitated to purchase it based on the other review regarding the offensive smell. I have to say, my rug has no offensive oder. It smells "new", but it is in no way offensive to me. Do not let that stop you from purchasing this rug. It looks just perfect in our living room. Regarding Overstock's customer service and delivery: I ordered this rug on Sunday evening and this morning I received the email saying that it had shipped. When I clicked on Track Order, it showed it was out for delivery today (Wednesday)! I was so happy that it arrived so quickly! Do not pass this one up!
First of all, this rug is beautiful. The color is rich and the rug is very soft and thick. However, the color is not quite accurate in the photo description. It has very minimal beige and is mostly dark chocolate brown. The rust coloring is more of a deep, yet muted red. Overall, it's darker than I was hoping, but I am keeping it because it is still a very nice rug.
The colors are more subdued than the picture. The rug looks great. But it sheds - a lot. We've had it for 2 years. Have vaccumed it at least twice a month, it still sheds. We bought it for the family room. It is not idea for heavy use areas. Replacing it with a machine made synthetic rug from Overstock.
The colors on the website are relatively true to the actual rug colors. Although one area of the rug is darker than another - but it wasn't a big deal for us since we can tuck that part of the run underneath the sofas. Overall, the colors go very well with our chocolate brown leather sofas and the beige wall color. I have enough accent colors in the rug (gold, brick red, beige, green) to play with for my accessories in the room. Ok quality - the rug sheds A LOT! I have had it for almost 1 month and I have had to vaccumm it almost every other day - it fills up my entire bagless vaccumm every time I use it - I am hoping that it stops shedding soon. The rug is soft on your feet. It's true to its size. I will get a better feel about the long term quality as we have it longer. Very good description of rug online - I was a little weary about buying a rug this size on line, especially not having looked at it in person - I had bought a few rugs in stores and had to return them b/c they didn't go with the overall color scheme - but, this one was described well online enough that I felt comfortable ordering it and I am overall happy with the purchase.
This is a pretty rug, but I am disappointed in how unlike the red is compared to the photo, It's not red at all; it's more of a muted rust color. The rich taupe is portrayed more accurately. It is more of a light chocolate or kaki color, not beige at all.
I purchased the 7'6" x 9'6" area rug and the 25' runner. I have gotten more compliments on these rugs! They are thick and well made. My only caveat here is...yes they shed! Terribly. But they're new so I'm hoping that will stop. The colors are exquisite - very soft. They are muted golds, rust/brick, olive/thyme green, camel, ivory. Just Beautiful. I am very happy with this purchase. Couldn't have worked out more perfectly. Thanks to the previous reviewers - I took your recommendations and am glad I did!
I purchased with free shipping and not sure about it. However, it is a stunning rug. I also bought the felt rug pad which stabilizes the rug and gives it a plush feel. The color are reddish rust, dark taupe, cream,sage green and light blue. All wool rugs shed so we'll see how it does in a couple of weeks. Lots of oohs and aahs over the rug. My new dark couch and dark recliners really set the rug off. You won't go wrong with this rug!
The rug arrived right on time and was the color and description was just as stated. The rug texture is very soft and the colors are slightly muted but the design and rust color boarder really add to the appeal of the rug. I did not have have any odor as was stated in some reviews. I also ordered the thick underpad which makes the rug even more cushioned. Great rug- quality and value!
For the money this is a great buy. The color is much darker in person. It is still a nice rug. I was very satisfied.
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Sydney Harbour Marriott Hotel
Reviews - Sydney Harbour Marriott Hotel
Read 776 additional reviews of Sydney Harbour Marriott Hotel at TripAdvisor.
Want to see more hotels? View all hotels in Sydney
Historical Traveller Reviews of Sydney Harbour Marriott Hotel
Like Fawlty Towersfrom A TripAdvisor Member
Our booking (made 3 months prior) was incorrect as they had us staying for one night not two, and then told us we would have to move rooms during our stay.
Despite breakfast being inclusive, it was placed on our bill (despite checking with reception and with the restaurant)
We were overcharged in the bar, and when this was pointed out, were told NOTHING COULD BE DONE ABOUT IT!!! (they soon got the message).
Staff seemed totally inept.
Even checkout took 20 minutes due to a long queue at the reception desk.
Complaints fell on deaf ears.
Nice hotel, great location, dreadful service
An overall OK stay - but not great.from deanhill
Not certain if we were bumped up from our city view room because we insisted on early check-in, or because we paid the $99.00 per night upgrade for access to the Executive Lounge for free breakfast buffet and evening cocktails & appetizers.
If you fly to Sydney on United, you'll probably bump into your flight attendant here - as it is a popular hotel for airline flight crews.
The room was quite small and typical Marriott - but, the bed! it was amazing!!.. comfy matress, triple sheeted with crisp cotton linens (Frette?), two fluffy down duvets, and the BEST pillows I have ever slept on!
Their sometimes fast (most times SLOW) in-room High-Speed internet was an expensive $99.95 per week (or $9.95 per HOUR).
No ice machines - so each and everytime we wanted ice, we had to call room service - which was annoying!
Great location - only a 2 minute walk to Circular Quay.
Indoor pool was nice, but wish it was outdoors.
Housekeeping was below average - room was dusty and glass top tables & desk were covered with drink "rings" and finger prints (actually had to leave a note to request that the glass on the desk top be cleaned).
An overall 'OK' stay - but not great.
Not as good as the other reviewsfrom BigHarleyDog
Outstanding servicefrom A TripAdvisor Member
Sydney Harbor Marriott worked out great!from Michaela
Granted, I certainly cannot complain about the hotel since the majority of the cost was free. But even if we had paid full price, it was a lovely place to stay. The room was very clean and attractively decorated (though the suite is not large as suites go). The hotel (as many of the large hotels) is very conveniently located to the key tourist areas. A Starbucks is right across the way. An Avis branch is located in the hotel which made things very convenient for taking a trip to the Blue Mountains. The service from the staff was quite good as well.
Make sure to have access to the concierge level. The alcohol was free, and the hor d'oeurves spread was more than enough for a dinner if you did not want to go out. There was a wide selection of foods offered both in the evening and in the morning for breakfast.
New Year's Eve was everything I had hoped it would be. We had gotten tickets on-line for the actual NYE performance in the Opera House, and we could view the fireworks from viewing platforms in the Opera House, so we did not have to deal with the throngs of people jockeying for position. Although our Marriott room had a direct view of the harbor, you would not want to stay in your hotel while this world-reknown visual extravaganza is going on. Unfortunately for them, some people thought that would be the best way to enjoy the fireworks. It was said that the harbor had 1.5 million people viewing the fireworks, and it probably did. But the crowd was so happy and well behaved (no alcohol can be brought in) that I felt very comfortable and safe - and would have felt safe walking back to the hotel without my husband had I needed to.
Marriott is not the Four Seasons, but then again they don't charge like them either. It was a perfect place to land for 5 days, and I would definitely stay there again.
Excellent location!from campi
Fabulousfrom vancouver-jim
Wonderful stayfrom Vanessa_S1977
Only 1 complaint - the pool was not heated and it's one depth all around (1.4mt)
I recommend staying here for its excellent location...walking distance to Circular Quay and Sydney Opera House.
Loved the pillows.....so comfortable. Beds were just a nice.
Great Hotel. Great Locationfrom DaveHarrop
Thoroughly enjoyed the Marriott Sydney Harbourfrom A TripAdvisor Member
Top Local Tips for Sydney
Excellent public transport - forget having a car! The ferries, buses and city trains go everywhere at every time of day and night. (Okay, the ferries shut down about 11:00 p.m but the buses definitely keep going.) The ferries are the coolest way to get around but the buses and city trains are more useful for those inland spots. We bought a week pass (good for all) and it was worth every penny. Like any big city, it's expensive to park a car (if you can find a spot) and the one way streets and heavy traffic are just headaches. So, forget the car and enjoy the public transport. You won't be disappointed!
Use the train to/from airport Definitely hop on the train to get to the airport in 20 minutes. It's about 11 bucks for a one-way and very easy to use.
Royal Botanical Gardens Leave yourself some time to walk around and see the unique wildlife (Lorikeets & Flying foxes). Walk to the far side for the best pictures of Opera House and Bridge together. I have it hanging on my wall.
- (hotels)
Other names for Sydney Harbour Marriott Hotel
- sydney marriott
- marriott sydney
- Address: 30 Pitt Street - Sydney - New South Wales - 2000 - Australia
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- (hotels)
Hotels Near Sydney Harbour Marriott Hotel
- Four Seasons Hotel Sydney Sydney, New South Wales Distance: 0.2 km / 0.1 mi
- Establishment Hotel Sydney, New South Wales Distance: 1.7 km / 1 mi
- Russell Hotel Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Quay West Suites Sydney Hotel Sydney, New South Wales Distance: 0.2 km / 0.2 mi
- Shangri la Hotel Sydney Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Mantra 2 Bond Street Hotel Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- InterContinental Sydney Hotel Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Harbour Rocks Hotel Sydney, New South Wales Distance: 1.2 km / 0.8 mi
- Sir Stamford at Circular Quay Hotel Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Radisson Plaza Hotel Sydney Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Clarion Collection Rendezvous Stafford Hotel Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Amora Hotel Jamison Sydney, New South Wales Distance: 0.3 km / 0.2 mi
- Quay Grand Suites Sydney Hotel Sydney, New South Wales Distance: 0.4 km / 0.2 mi
- All Seasons Premier Menzies Hotel Sydney, New South Wales Distance: 0.4 km / 0.3 mi
- Sofitel Wentworth Sydney Hotel Sydney, New South Wales Distance: 0.4 km / 0.2 mi


text: Find this wine Find this wine Markham Vineyards Merlot 2005 Recommended Perfect Merlot! Medium bodied with a lot of nice berry, oak flavors. Pin It Tweet 3 years ago by Lm77 More posts Markham Vineyards Merlot Napa Valley 2011 Robert and Karen at Bistro 14 on LBI. August 28, 2013 our 11 month anniversary. one year ago by Karengharris2 Markham Vineyards Merlot Napa Valley 2008 one year ago by D H. Markham Vineyards Napa Valley Merlot 2008 Bloomington. Ruby James' birth. Very nice 2 years ago by Bradshepherd Markham Vineyards Merlot 2006 Jhg fav Merlot***** 3 years ago by Jhg4455 Markham Vineyard Merlot Napa Valley 2005 Very nice merlot, around 20 bucks 3 years ago by Geoff199ef


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The study by Postdoctoral Scholar, Dr. Mika Westerlund of the Aalto University School of Economics, Department of Marketing and University of California, Berkeley Haas School of Business and Principal lecturer, Adjunct Professor (Aalto University School of Economics), Dr. Seppo Leminen of the Laurea University of Applied Sciences, has won the Best Paper Award at the 17th Nordic Conference on Small Business Research. The biennial event on entrepreneurship and small business has been circulating in different Nordic Countries since 1980 and the 2012 conference was held in Helsinki in May 23-25.
The winning study, "In praise of entrepreneurial marketing: a study on entrepreneur-led firms", investigates the drivers and practices of entrepreneurial marketing with a sample of 3097 entrepreneur-led small firms from Finland. According to the study, marketing decisions in small firms depend on the entrepreneur's ability to interpret changes in the business environment. In addition, situational factors, e.g. the firm's degree of internationalization and the entrepreneur's growth aspirations, affect its marketing.


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Val Harris
Valentine Harris (Irish: Vailintín Ó hEarchaí, born June 23, 1884, Ringsend, Dublin, Ireland), commonly referred to as Val Harris, was an Irish footballer who played Gaelic football for Dublin and soccer for, among others Shelbourne, Everton and Ireland. Harris was regarded as one of the finest soccer players of his generation and in 1906 became the first Shelbourne player capped by Ireland. He still remains the club's most capped player. In 1913 he captained the first Ireland team to beat England and in 1914 he was a member of the Ireland team that won the British Home Championship. Harris has been described as an extremely hard player in the mode of Kevin Moran or Paul McGrath and like his Shelbourne, Everton and Ireland team mate, Bill Lacey, he was also very versatile, covering just about every outfield position during his career. Harris initially played soccer with junior clubs Pembroke and Emeralds and in 1898 helped Pembroke reach the final of the Leinster Junior Cup. He was also an accomplished Gaelic footballer during his teens and won honours at club level with Ringsend GAA team Isles of the Sea. In 1901 he also won an All- Ireland medal with Dublin. Harris is one of  ( Wikipedia article )
Personal facts
- Date of birth
- 1884-06-23
- Place of birth
- Ringsend
- Nationality
- Ireland
Athlete facts
- Sports
- Football


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RV Electrical Tutorial
Chapter 6 - Breaker Panels
Click Here for a Print Ready Version.
Breaker panels serve two functions. They provide a central distribution center for all of the various circuits to tie into the incoming power supply and they also provide overload protection to prevent fires from any short circuits. Fuses are pretty much a thing of the past on high voltage circuits in RVs so resetable circuit breakers are provided in their place. Breaker panels, also called power distribution centers, are mounted in an accessible location inside the RV so that the circuit breakers can be reset as needed. They are also used to kill a given circuit so that circuit can be safely worked upon without endangering the operator.
Circuit breaker panels are going to vary quite a bit from one brand to the next as well as between a 30 amp and a 50 amp service. A 30 amp service will be single pole 120 volts so it will have 3 wires feeding it - a black hot wire, a white neutral wire, and a green or bare copper ground wire. Because it's a single pole service all of the breakers will be fed by the same common hot wire. A 50 amp service will be different because it's a two pole split phase service with two hot wires. In this case the black wire will be referred to as L1 while the second hot phase will be a red wire and referred to as L2. In this instance the breaker panel will have two main lug inputs and a divided buss that sends L1 to half of the breakers while sending L2 to the other half. In either situation there will be a main breaker that controls power to the entire distribution panel. It will either be a single pole 30 amp breaker or a two pole 50 amp breaker, depending upon which service your motorhome is equipped with.
In addition to the main breaker there will be a number of output breakers - one for each circuit in the coach. Any given circuit may contain multiple outlets but that particular breaker will control every outlet on it's circuit so if a device that is plugged into an outlet causes the circuit breaker to trip, that entire circuit will be dead. Some of the panels used in motorhomes are fairly small so that they don't take up too much room, which is somewhat limited in an RV. There may not be enough available slots for the number of circuits that are needed. Split circuit breakers are commonly used in this application to overcome that. A split breaker places two half width breakers into one common unit that snaps into a single breaker panel slot. This gives you the ability to run twice as many circuits as normal circuit breakers. Of course you still need to find enough room inside the box to stuff all of that wire so that may be the limiting factor.
Normally all of the circuits can be powered from the one breaker panel. Many motorhomes are now coming with more complex electrical systems and are using inverters to power certain devices. We'll talk more about inverters in a later chapter but for now let's just say that inverters use battery power to produce 120 volt AC power. Inverters are also fed 120 volt AC power from the breaker panel. They have an internal transfer switch that passes the shore power through rather than using the batteries to produce power. It will pass this power through whenever it is available or invert it from the batteries when it is not. This means that any devices that need to be powered from the inverter need to somehow be connected to it's output. They still require some sort of overload protection so many of the larger inverters send their output, or the pass through power, to a sub-panel. This sub-panel will act as a distribution point for all of the circuits that are desired to be run off the inverter. It will have a few circuit breakers in it to protect these circuits from any overloads. The inverter itself will receive power from either one or two circuit breakers in the main panel. In this way all of the AC power from the main breaker panel will pass through the inverter and into the sub-panel, where it can be distributed to the desired circuits. Many of the larger inverters also serve as battery chargers so whenever shore power or generator power is present it will charge the batteries in addition to operating in the pass through mode.
This requires the installation of a second panel. Adding a sub-panel to an RV does take up valuable space, which isn't always that easy to do. Some breaker panels, such as the Iota IDP-240B, offer an integral sub-panel. By splitting the buss inside the panel a portion of that box can be used for sub-panel circuits if the inverter is wired to return power to that portion of the buss bars. This offers a huge advantage when trying to fit a breaker panel into an RV without tying up valuable space. The Iota is a compact breaker panel with an attractive cover with smoked glass cover over the breakers. If a breaker trips an LED can be configured to illuminate, identifying the circuit as tripped without requiring removal of the cover. It can be configured with the split buss design so a separate inverter fed sub-panel is not necessary.
In the next section we'll talk about batteries and chargers.
This tutorial written 8/24/09 by Mark Quasius


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It Pays to Know Ruby: New York City's Top Tech Jobs (and Their Average Salary)
Here's some interesting data that slipped through the holiday news hole. CyberCoders, a technology staffing company, assembled a list of the top ten tech jobs in New York for the coming year.
The company is based in Irvine, California, but recently opened an office in New York. With the office expansion of companies like Google and Twitter, says CyberCoders CTO Matt Miller, "We are seeing a significant demand for various types of web development, as well as candidates who manage projects and the sales team to support those efforts." Startups are unlikely to ask a staffing firm for help with hiring up, but their numbers offer a nice overview of coveted jobs and compensation. Read More


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I'm not a fan of anything medical. I tend to worry about every little procedure they attempt on me whether it's taking my blood pressure or something more serious. I've been quite calm heading towards labor though and I mostly attribute it to knowing this is going to be a happy experience. My advice is to not let yourself build this up negatively in your mind. I'm only thinking about the good and allowing myself to trust that the people there do this same thing daily...I'll be in good hands.
Your labor doesn't have to be scary and neither does the hospital. Just try to concentrate on the excitement of it all! Good luck, you'll be fine
DS1: BFP: 4/4/2011 | EDD: 12/2/2011 | Born 11/21/2011
DS2: BFP: 2/23/13 | EDD: 10/26/13 | We said goodbye: 6/2/13 (19w1d) due to pPROM
I am one of those people who can't wait to get into the hospital and have the baby...and then as soon as the baby is born, I can't wait to get out of that place and go home! With both of my kids, I begged to go home early.
I think that you will be so wrapped up in the moment that you won't really have time to be nervous about the hospital setting. Have you went to visit your L&D unit yet? That might help to calm your fears and give you an idea of what you will be walking into.


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I loved the original Strider and the reboot on my PS4 is AMAZING! Therefore lets do the same with this masterpiece as I have played it several times on my Wii U. A proper reboot as they did Strider utilizing the gamepad would be wonderful.
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- Fri 12th July, 2013
Recent Comments
@piggyinafair I went into the system setting like you said and you are right it's perfect now. THANK YOU! I had thought everything was set up properly but apparently the screen size was off. I must say the comment section on here is much friendlier then IGN's
Any positive publicity would help Nintendo right now. They could manage the project with him get a cut of the profit and help promote their systems. Instead all I hear is bad press on Nintendo like this or with you tube and I never see or hear any advertising about their games or systems. It's no wonder they are in finical troubles
@piggyinafair It's the only game that has the ratio problem, can you switch it for just that particular game? I even thought zooming in on the gamepad then switching it back to TV would work but it didn't
I've been playing the hell out of this game, it's a lot of fun. My only complaint is the fact the screen ratio is to big and there is no way to adjust it so things are getting cut off around the edges. The jump mechanic is a bit tricky at times but other then that I am really enjoying this game
I would love to see Clash of Clans on Wii U
I use to play the hell out of this game with friends of mine
I feel Nintendo should have the games that are on 3DS on the Wii U as well, they look amazing and the ones I played on my friends 3DS are great. I would love to have Fire Emblem, Animal Crossing New Leaf and the new Zelda game on my Wii U as that is the machine I spent my money on not a 3DS.
@LeonChamp LOL thats AWESOME, let the inner child out! This game was great on the NES and I'm sure it will be again on the WII U. I hope they do this with Maniac Mansion.
I'm completely addicted to this game. This is also my first and certainly not my last purchase in the series.


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NEW YORK, October 3, 2011 /PRNewswire-Asia-FirstCall/ --On September 1, 2011, Puda Coal, Inc. (OTC BB: PUDA) (the "Company"; Other OTC: PUDA.PK) filed a current report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") disclosing interim findings of the internal investigation by the Company's Audit Committee, including that, on August 31, 2011, Chairman Ming Zhao, through his counsel, provided the Audit Committee with a letter purportedly from CITIC Trust Co. Ltd. (the "CITIC Letter"), and that the Audit Committee was unable to verify the authenticity of or the information contained in the "CITIC Letter." As previously announced, on September 26, 2011, the Company's Board of Directors received a resignation letter from its then Chief Executive Officer, Liping Zhu, in which Mr. Zhu stated that he provided a false letter from CITIC to the SEC and to counsel for Ming Zhao. On September 29, 2011, the Audit Committee further received a letter from CITIC confirming that CITIC did not issue the "CITIC Letter." CITIC also stated that all of the information it had publicly disclosed regarding the CITIC Juxinhuijin Coal Industry Investment Fund No.1 Collective Trust Plan (the "Trust Plan"), including the information contained in each of its quarterly management reports and other documents posted on its website (http://www.ecitic.com), was true and valid, but CITIC did not provide any underlying documents related to the Trust Plan or any other purported transaction between CITIC and the Company's operating subsidiary, Shanxi Puda Coal Group Co., Ltd.
On September 26, 2011, Shearman & Sterling LLP ("Shearman") resigned as counsel for Ming Zhao in all regards and stated that the Audit Committee should not rely on any of Shearman's prior statements regarding CITIC. The Audit Committee is not aware of whether Ming Zhao has retained successor counsel. Before its resignation, Shearman represented Ming Zhao in connection with the Audit Committee's internal investigation, the SEC's investigation relating to Mr. Zhao, and Mr. Zhao's buy-out proposal. The Independent Committee has not received any recent communication from Mr. Zhao regarding the proposed buy-out transaction, including whether or not he intends to proceed with such transaction.
As disclosed in the current Report on Form 8-K on April 12, 2011, on April 9, 2011 the Audit Committee of Puda Coal, Inc. (the "Company") was authorized by the Company's Board of Directors to investigate the allegations raised in an article published online by a short seller of the Company's stock, Alfred Little, on April 8, 2011. In the article, Alfred Little alleged that Ming Zhao, the Chairman of the Company's Board of Directors, engaged in a number of undisclosed transactions involving the ownership of Shanxi Puda Coal Group Co., Ltd. ("Shanxi Coal"), the Company's operating subsidiary in China. On August 30, 2011, the Audit Committee presented its interim findings to the Company's Board of Directors.
The investigation has been constrained by certain limitations, including, among other things, the lack of cooperation by key individuals, limited access to individuals in China who have knowledge of the allegations, and restrictions on evidence gathering in China. Subject to these and other limitations, below is a summary of the findings of the Audit Committee to date. These findings are interim in nature, do not reflect all of the matters examined in the context of the investigation or all of the conflicting evidence obtained with respect to the matters under investigation, and are subject to revision if additional facts are uncovered.
(1) Allegations Concerning the Transfer of 90% Ownership of Shanxi Coal to Ming Zhao in September 2009. The Audit Committee has found that Ming Zhao arranged for Shanxi Putai Resources Limited ("Putai"), another subsidiary of the Company and the parent company of Shanxi Coal, to transfer its 90% ownership (and thereby the Company's indirect 90% ownership) of Shanxi Coal to himself in September 2009 (the "90% Transfer") and that Yao Zhao, Ming Zhao's brother and the legal representative of Putai under Chinese law, authorized the transfer. The Audit Committee has also found that Liping Zhu, the Company's CEO, President and director on the Board, was aware of the 90% Transfer but did not disclose it to any other director. Ming Zhao contends that this transfer was pursuant to a "Trusted Shareholding Agreement" that granted him merely nominal ownership of Putai's 90% equity interest in Shanxi Coal but reserved beneficial ownership for Putai, and also states that he effectuated this transfer for a legitimate business purpose — to help Shanxi Coal obtain government approval to become a consolidator of coal mines.
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TAIYUAN, Shanxi Province, China, August 18, 2011 /PRNewswire-Asia/ -- Puda Coal, Inc. (NYSE Amex: PUDA) (the Company), today announced that it has notified the NYSE Amex (the "Exchange") that it does not intend to appeal the determination from the Exchange to delist the Company's common stock. The Company expects the Exchange to delist the Company's common stock from the Exchange immediately. The Company also expects its common stock to commence trading on the OTC pink sheets market shortly after the delisting is complete. Trading in the Company's common stock on the Exchange has been halted since April 11, 2011.
The Independent Committee of the Board is continuing its discussion with representatives of Chairman of the Board, Mr. Ming Zhao, regarding the preliminary buy-out proposal made by Mr. Zhao on April 29, 2011. The Company's financial advisors in connection with the buy-out proposal, Cowen and Company, LLC and Morgan Joseph TriArtisan LLC, have begun to review documentation and financial information of the Company.
Given the complexity of the issues involved and the requirement for audited financial statements, the Independent Committee anticipates the proposed transaction, if it proceeds, will take several months to complete. Neither the Company nor the Independent Committee can provide any assurances that a definitive agreement will be executed or approved or that a transaction will be consummated or the timing of such. In addition, the Company's audit committee is in the process of engaging a successor independent accounting firm.
Unless the Exchange's determination is appealed, the Company expects that the Exchange will file a Form 25 with the SEC to remove the Company's common stock from listing and registration on the Exchange and that the Company's common stock will be delisted from the Exchange shortly. The Company is considering its response to the Exchange. Trading in the Company's stock has been halted by the Exchange since April 11, 2011.
On July 13, 2011, the Independent Committee of the Board received a draft merger agreement from Chairman of the Board, Mr. Ming Zhao, pertaining to the preliminary buy-out proposal made by Mr. Zhao on April 29, 2011. Although it is expected that evaluation and negotiation of the draft agreement will take at least several weeks, neither the Company nor the Independent Committee can provide any assurances that a definitive agreement will be executed or approved or that a transaction will be consummated or the timing of such. The Company will provide no other updates regarding the proposed buy-out until there is a material development.
TAIYUAN, China, July 13, 2011 /PRNewswire-Asia-FirstCall/ -- By letter dated July 7, 2011, the independent registered public accounting firm of Puda Coal, Inc. (NYSE Amex: PUDA) (the "Company"), Moore Stephens, resigned, effectively immediately. Moore Stephens served as the Company's auditor since July 19, 2005. Moore Stephens also advised the Company that further reliance should no longer be placed on its previously issued audit reports relating to the Company's financial statements for fiscal years 2009 and 2010. The resignation and non-reliance advice by Moore Stephens are based on its conclusion that it is no longer able to rely on the representations of the Company's management received in connection with its audits of the Company's financial statements for the last two fiscal years. Moore Stephens believes such management representations are materially inconsistent with the alleged unauthorized transfers of subsidiary ownership by the Company's Chairman, Mr. Ming Zhao, which are currently subject to the investigation by the Audit Committee. The Company's Audit Committee will continue its investigation into the alleged unauthorized transactions.
On June 24, 2011, the Company announced that it received a notice from NYSE Amex (the "Exchange") regarding the Company's failure to satisfy certain of the Exchange's continued listing standards and that it was required to submit a plan of compliance by July 5, 2011 to help regain compliance. Such submission deadline has been subsequently extended by the Exchange to July 15, 2011. The Company is currently considering its responses to the Exchange.
On April 29, 2011, the Company announced that it has received a preliminary buy-out proposal from Chairman of the Board, Mr. Ming Zhao and that an Independent Committee of the Board was authorized by the Board to review and evaluate Mr. Zhao's buy-out proposal and, if appropriate, negotiate its terms and take any other actions in connection therewith. In addition, the Independent Committee has retained financial advisors in connection with the proposed buy-out. Mr. Zhao has reiterated his desire to proceed with his proposed buy-out of the Company and has indicated that he will provide a draft merger agreement to the Independent Committee later in the week. Mr. Zhao has also provided certain documents to the Audit Committee in support of its internal investigation, and has indicated that he will provide additional documentation in the coming days. Neither the Company nor the Independent Committee can provide any assurances that a transaction will be formally proposed, or that if proposed, a definitive agreement will be executed or approved or that a transaction will be consummated or the timing of such.
TAIYUAN, China, June 13, 2011 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. (NYSE AMEX: PUDA) ("Puda Coal" or the "Company) announced today that its Independent Committee has retained Cowen and Company, LLC and Morgan Joseph TriArtisan LLC as financial advisors in connection with the previously-announced proposed preliminary buy-out offer made by Ming Zhao, the Chairman of Puda Coal, to acquire all outstanding shares of common stock of the Company. In response to the offer, the Board of Directors of the Company authorized the Independent Committee to review and evaluate the proposal and, if appropriate, negotiate its terms, and take any other action in connection therewith.
In a series of conference calls and e-mail communications over the past several weeks with lawyers from Shearman & Sterling, Mr. Zhao's legal counsel, the Independent Committee has requested a draft Merger Agreement and information and documentation from Mr. Zhao, including documentation relating to all Mr. Zhao's transactions involving Puda Coal and its subsidiaries, that will enable the Independent Committee to evaluate Mr. Zhao's preliminary proposal. Since the proposal was announced, lawyers from Shearman & Sterling have indicated to representatives of the Independent Committee that they were working to provide this information to the Independent Committee, although, to date, this information has not yet been provided. Last week, lawyers from Shearman & Sterling indicated to representatives of the Independent Committee that they hope to provide substantial additional information by June 22nd, but have not yet indicated a date by which they propose to deliver a first draft of the Merger Agreement. The Independent Committee will continue to communicate with Shearman & Sterling regarding the proposed transaction. Neither the Company nor the Independent Committee can provide any assurances that a transaction will be formally proposed, or that if proposed, a definitive agreement will be executed or approved or that a transaction will be consummated.
Rodman and Renshaw on PUDA 4/12/2011
Termination of Coverage
Termination of Coverage Effective immediately, we are terminating coverage of Puda Coal Inc. ("Puda") to allocate resources more efficiently within our coverage universe. Upon termination of coverage, any of our prior financial projections on Puda should not be considered reliable.
Rating Puda was last rated Market Outperform.
Company Description and Recent Development Puda Coal Inc., through its operating subsidiary, Shanxi Puda Group Co., specializes in providing high-grade cleaned coking coal to the steel manufacturing industry in China. Its primary geographic markets include Shanxi, Inner Mongolia, and Hebei. The company currently has three coal washing facilities and is one of the largest non-state owned coal washing companies in Shanxi province. Assisted by the regional consolidator status granted by the Shanxi provincial government, the company has recently ventured into coal mining business by acquiring assets and coal mining rights within Shanxi province. Puda became a public company in the U.S. through a reverse merger in 2005. Since September 2009, the company's common stock has been trading on AMEX under the ticker "PUDA."
On March 14, 2011, the company announced its 4Q10 financial results. Revenue for the quarter was $90.5 million. Gross profit came in at $9.2 million. Non-GAAP net income was $4.1 million, representing diluted EPS of $0.18. As of the end of 2010, Puda had $156.2 million of cash and cash equivalents, $151.1 million of working capital, and $42.9 million of long-term debt (including the current portion). Shareholders' equity stood at $250.9 million.
Puda announced this morning that its Board of Directors unanimously ratified its Audit Committee's decision to launch a full investigation into allegations raised by some market participants pointing to various unauthorized transactions in the shares of the company's subsidiary, Shanxi Coal, by the company's Chairman of the Board, Ming Zhao. The company's press release also stated that "Although the investigation is in its preliminary stages, evidence supports the allegation that there were transfers by Mr. Zhao in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. Mr. Zhao has agreed to a voluntarily leave of absence as Chairman of the Board of the Company until the investigation is complete."Notice Regarding Privacy and Confidentiality:This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.Rodman & Renshaw, LLC may make a market in the securities being discussed.Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).Member FINRA.Member SIPC.
UPDATE: PUDA's initial investigation supports our findings from last week. The Chairman has voluntarily taken a leave of absence.
TAIYUAN, China, April 11, 2011 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. today announced that its Board of Directors has unanimously ratified the Audit Committee's decision to launch a full investigation into the allegations raised in a recent article alleging various unauthorized transactions in the shares of a subsidiary company, Shanxi Coal. The Audit Committee has retained professionals in the United States and China to assist it in its investigation. The full board, including Mr. Ming Zhao, the Chairman of Puda Coal, has agreed to cooperate in the investigation.
Although the investigation is in its preliminary stages, evidence supports the allegation that there were transfers by Mr. Zhao in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. Mr. Zhao has agreed to a voluntarily leave of absence as Chairman of the Board of the Company until the investigation is complete. The New York Stock Exchange has halted trading in the Company's stock.
This is a reprint of the Report on PUDA, released last week.
Supportive Documents:
Puda Coal (NYSE AMEX:PUDA) grabbed our attention at the beginning of March 2011 during our continuing effort to potentially allocate funds to a very select number of ChinaHybrid companies attempting to survive in a challenging environment that has not been kind to Reverse Take Over firms (RTO) . We felt that solid analyst estimates combined with the strong pricing of its most recent public offering on December 8, 2010 substantiated a complete review of the company, which we had hoped would validate investor optimism. To our surprise, during our investigation of PUDA's SAIC filings, we discovered:
See full report.
TAIYUAN, China, April 7, 2011 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. today announced that Shanxi Puda Coal Group Co. Ltd ("Shanxi Coal"), a 90% subsidiary of Puda Coal, entered into separate coal mining rights and mining assets transfer agreements with three coal mines located in Huozhou County, Shanxi Province, on April 6, 2011, Shanxi Huozhou Jianzhuang Coal Industry Co., Ltd ("Jianzhuang Coal"), Shanxi Huozhou Leijian Coal Industry Co., Ltd ("Leijian Coal") and Shanxi Huozhou Fengshen Coal Industry Co., Ltd ("Fengshen Coal").
In March 2010, Shanxi Coal was approved by the Shanxi provincial government to acquire and consolidate four coking coal mines in Huozhou County, Shanxi Province, known as the Jianhe Project, which, once completed, should increase the total annual capacity of target coal mines from the current accumulated 720,000 metric tons to 900,000 metric tons per year.
Pursuant to the coal mine acquisition agreements signed on April 6, 2011, Shanxi Coal agreed to pay an aggregate purchase price of RMB 98,000,000 (approximately $14.98 million) for Jianzhuang Coal, RMB 92,000,000 (approximately $14.06 million) for Leijian Coal, and RMB 87,000,000 (approximately $13.29 million) for Fengshen Coal.
Under each agreement, Shanxi Coal agreed to pay 90% of the purchase price within five days of signing and the remaining 10% of the purchase price three months after the signing if Shanxi Coal confirms there is no claim against respective seller with respect to the transferred assets. Jianzhuang Coal, Leijian Coal and Fengshen Coal will be responsible for canceling or terminating their respective employment contracts (or labor relationships) with their employees, paying all unpaid wages, insurance premiums and welfare expenses, and bearing all of the expenses caused by the cancellation or termination of the employment contracts. The tangible assets and related documents of the three coal mines will be transferred to Shanxi Coal within seven business days upon signing of the agreements.
Shanxi Coal is in the final stages of negotiations with the owner of the last Jianhe Project mine and expects to sign a definitive agreement to acquire Shanxi Jianhe Coal Industry Limited Company ("Jianhe Coal") in the near future. Jianhe Coal is the largest mine of the four target coal mines to be consolidated under Jianhe Project. In May 2009, Shanxi Coal acquired an 18% interest in Jianhe Coal for RMB 100,000,000 (approximately $15.27 million). Leverage on its status of 18% equity owner and the sole corporate shareholder of Jianhe Coal, Shanxi Coal applied and received approval to be the consolidator of Jianhe Project.
Shanxi Coal plans to place all the acquired assets of Jianzhuang Coal, Leijian Coal, Fengshen Coal and Jianhe Coal into Shanxi Huozhou Lituo Coal Industry Co., Ltd. ("Huozhou Lituo"), a newly established project company approved by the Shanxi provincial government. The geological technical report on Lituo Coal has been completed. Based on the construction plan, the three small mines will be closed, one of their mine shafts will be changed as gas emission shaft, Jianhe Coal facility will become the operational mine of Huozhou Lituo to explore the coal reserves, including reserves underground of the three mines. Shanxi Coal expects to receive construction approval by June 2011. Shanxi Coal anticipates that it will take about eight to ten months to complete the construction upgrades and consolidation of the mines under the Jianhe Project after receiving construction approval.
"We are making a solid progress in executing our growth plan and have now entered into agreements to acquire three of the four coal mines under the Jianhe Project. We expect to finalize the agreement with Jianhe Coal in the near future and are preparing to execute our consolidation and expansion plans under the Jianhe Project. In the meantime, we are preparing the required reports for coal mine design, consolidation and restructure process for submission to the government. The primary reserve of the Jianhe Project is metallurgic coal, which provides an attractive opportunity to take advantage of China's growing infrastructure and demand for steel. It also allows us to benefit from synergies between our coal washing and coal mining operations," commented Mr. Liping Zhu, CEO of Puda Coal.
"Jianhe Coal is in excellent condition, and a new, larger mine shaft has been completed by its original owner before it was shut down by the government under the coal mine consolidation program. In addition, we have already commenced the comprehensive construction designing work at the Jianhe Project. We expect our Pinglu and Jianhe projects to gain further momentum and anticipate our coal mining business to make a solid contribution to our financial results in the second half of 2011 and beyond," Mr. Zhu concluded.
Fourth Quarter 2010 Highlights and Recent Events
Full Year 2010 Highlights
"We ended 2010 on a positive note generating approximately $20 million cash flow from our legacy coal washing business driven by strong revenue and net income growth. Our well established customer relationships and the continued recovery of the steel industry fuelled double-digit year-over-year growth in sales volume and average selling prices of our high quality cleaned coal," commented Mr. Liping Zhu, CEO of Puda Coal. "With our strong balance sheet and solid financial position, we are well prepared to execute our coal mine consolidation projects in 2011. We have achieved significant milestones in this area in recent months and are confident in our ability to transform Puda Coal into an integrated coal washing and mining company."
Business Outlook
"In 2011, we anticipate another solid year of performance from our coal washing operations, as we expect demand for steel to remain high. More importantly, we expect our coal mine consolidation projects to make a solid contribution to our financial results. We have already commenced construction of the designed production expansion of the first project company under Pinglu Phase I and began producing a small amount of thermal coal during the construction period. By the end of first quarter, we expect to receive construction approval for the second project company under Pinglu Phase I, and we anticipate receiving construction approvals by July 2011 for all three Pinglu Phase II project companies. In the near term, we expect to enter into asset purchase agreements with the owner of the coal mines under our Jianhe Project."
"In the longer term, as we successfully execute our coal mine consolidation projects, we will find the right balance between our coal washing and coal mining businesses to generate optimum return on investment and value for our shareholders," concluded Mr. Zhu.
TAIYUAN, China, Feb. 28, 2011 /PRNewswire-Asia/ -- Puda Coal, Inc. (NYSE AMEX: PUDA) ("Puda Coal" or the "Company"), today announced that Shanxi Puda Coal Group Co. Ltd ("Shanxi Coal"), a 90% subsidiary of Puda Coal, recently completed mining assets acquisition of the remaining coal mines under Phase II of the Pinglu Project: Pinglu County Anrui Coal Industry Co., Ltd., Pinglu County Xiapingcun Coal Mine and Pinglu County Chuntouao Coal Mine.
As previously announced by the Company, pursuant to the acquisition agreements, the purchase price is RMB 250,000,000 (approximately $37.43 million) for Anrui Coal, RMB 61,200,000 (approximately $9.16 million) for Xiapingcun Coal, and RMB 140,000,000 (approximately $20.96 million) for Chuntouao Coal. Shanxi Coal paid 50% of the purchase price within three days of execution of each agreement and paid 40% of the purchase price on February 17, 18 and 22, 2011, respectively, after mining rights of those coal mines were transferred to the Company. The remaining 10% of the purchase price under each agreement, as a deposit, will be paid six months after the mining permits and property deeds are transferred.
TAIYUAN, SHANXI PROVINCE, China, Jan.24, 2011/PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. today provided additional updates on the status of the Company's coal mine consolidation projects.
As previously disclosed, pursuant to the policy of the Shanxi provincial government, Shanxi Puda Coal Group Co. Inc., a 90% subsidiary of the Company, is approved by the government to acquire nine thermal coal mines in Pinglu County and consolidate them into five mines. The coal mines under the Pinglu Project have aggregated reserves of approximately 163.9 million metric tons (MT), based on government records, which were filed by original mine owners and will be expanded from pre-consolidation production capacity of 1.1 million MT to post-consolidation annual production capacity of 3.6 million MT.
Shanxi Coal also received the government's approval to acquire four metallurgical coal mines in Jianhe County and consolidate them into one large metallurgical mining operation. The Jianhe project has total recoverable reserves of 23.7 million MT, based on government records filed by original mine owners, and annual production capacity will be expanded from 720,000 MT to 900,000 MT once consolidation is complete.
TAIYUAN, China, Jan. 3, 2011 /PRNewswire-Asia/ -- Puda Coal, Inc.announced that Shanxi Puda Coal Group Co. Ltd ("Shanxi Coal"), a 90% subsidiary of Puda Coal, entered into coal mining rights and mining assets transfer agreements with three coal mines located in Pinglu County, Shanxi Province, on December 28, 2010, Pinglu County Anrui Coal Industry Co., Ltd., Pinglu County Chuntouao Coal Mine and Pinglu County Xiapingcun Coal Mine.
On September 28, 2009, Shanxi Coal was approved by the Shanxi provincial government to consolidate certain coal reserves in Pinglu County, Yuncheng City, Shanxi Province ("Pinglu Project"). The assigned coal reserves are owned by eight coal mines with good operating track records prior to their mandatory shut down under the Shanxi province Coal Mine Consolidation Program and Xiapingcun Coal, a permanently closed small mine with a mining area of 0.7 square kilometers.
Pursuant to the agreements, Shanxi Coal will pay an aggregate purchase price of RMB 250,000,000 (approximately $37.43 million) for Anrui Coal, RMB 140,000,000 (approximately $20.96 million) for Chuntouao Coal, and RMB 61,200,000 (approximately $9.16 million) in cash, of which RMB 18,530,000 ($2.77 million) for Xiapingcun Coal.
Under each agreement, Shanxi Coal agrees to pay 50% of the purchase price within three days of signing, 40% of the purchase price within 30 days after assets transfer is completed and the mining permits and property deeds are transferred, and the remaining 10% of the purchase price six months after the mining permits and property deeds are transferred. Anrui Coal, Chuntouao Coal and Xiapingcun Coal will be responsible for canceling or terminating their respective employment contracts (or labor relationships) with their staff, paying all unpaid wage, premium and welfare expenses, and bearing all of the expenses caused by the cancellation or termination of the employment contracts.
Upon completion of the transfer of the mining rights and mining assets under the above agreements, Chuntouao Coal will be closed down and its underground coal reserves together with the reserves of Xiapingcun Coal will be consolidated into Anrui Coal. These coal reserves include higher quality thermal coal and coking coal.
Shanxi Coal plans to place all the purchased assets of Anrui Coal, Chuntouao Coal and Xiapingcun Coal into Shanxi Pinglu Dajinhe Anrui Coal Industry Co., Ltd., a newly established project company. Dajinhe Anrui Coal is one of the three project companies set up by Shanxi Coal in connection with Phase II of the Pinglu Project. After consolidation and improvements, Dajinhe Anrui Coal's annual capacity will be 900,000 metric tons. The Company expects to complete the consolidation and restructuring within twelve months after the closing of the asset acquisitions.
Phase II of Pinglu Project will be co-developed by Shanxi Coal, Mr. Zhao Ming and Mr. Gao Jianping (the "co-developers") based on the Investment Cooperation Agreement signed on August 1, 2010. Under the Investment Cooperation Agreement, Shanxi Coal, Mr. Zhao and Mr. Gao will each contribute 40%, 30% and 30%, respectively, of the total investment needed for the consolidation and construction of Pinglu Project Phase II. The parties will share the profits based upon the above investment contribution percentages and bear the risks and losses in connection with the project which will be limited by the amount of investment contributed by each party. The co-developers authorized Shanxi Coal to control and manage Phase II of the Pinglu Project.
"We have now successfully acquired two coal mines of Phase I of the Pinglu Project, four coal mines under Phase II of the Pinglu Project and entered into definitive agreements to acquire the remaining coal mines under Phase II of Pinglu Project. In addition, we entered into an agreement to purchase the coal reserves and assets of Xiapingcun Coal, which will enable us to acquire all the coal reserves under the Pinglu Project. Our project team continues to make significant progress with the application process for construction permits and we look forward to commencing construction and restructuring," commented Mr. Liping Zhu, CEO of Puda Coal.
Third Quarter 2010 Highlights
"We expect our coal washing operations to continue to benefit from steel-intensive infrastructure development projects and continue to deliver attractive financial results for Puda Coal," said Mr. Liping Zhu, President and CEO of Puda Coal. "As we make progress on the acquisition and consolidation of Da Wa and Guanyao coal mines, we are becoming more knowledgeable about the intricacies of the approval process and government requirements. Ultimately, Puda Coal will benefit from this process as our coal mines will be constructed based on government-approved designs focused on safety, production efficiency and optimal output. We are encouraged by our progress to date and are hopeful that we will continue to make meaningful progress on each of our consolidation projects in the months ahead."
Rodman & Renshaw on PUDA
3Q10 Results Summary Puda Coal ("Puda", Ticker: PUDA, Market Outperform) announced its 3Q10 results earlier today. Total revenue soared 60.4% YoY to $90.0 million, beating our estimate and Street consensus of $81.3 million by a wide margin. Gross profit however was $9.6 million, or 10.7% of revenue, significantly below our expectation of $11.8 million, or 14.5% of revenue. EBITDA grew 86.4% YoY to $8.3 million, implying an EBITDA margin of 9.3%, compared to our respective estimates of $11.5 million and 14.1%. Non-GAAP net income reached $5.2 million, or $0.25 per diluted share, below our estimates and Street consensus of $6.9 million, or $0.33 per diluted share.
3Q10 Highlights and Discussions The strong top line result was attributed to increased sales volume and much higher ASP compared to the same period last year. Sales volume in the quarter reached to 651,000 metric tons (MT), higher than 498,000 MT in 3Q09 and 601,000 MT in last quarter. ASP was $138/MT, 22.1% higher than $113/MT in 3Q09 and slightly higher than $137/MT in 2Q10. With the recovering demand from the Chinese steel industry, we expect sales volume and ASP will remain at the current high levels in the near term.
The weaker than expected gross profit was primarily due to higher weighted average purchasing price of raw coal from the last quarter. During Q2, Puda used some raw coal inventories purchased in Q1 which commanded lower costs, resulting in higher gross margin of 14.7%. As the raw coal price has been on the rise and is expected to stay high as China is entering into a cold winter season, we believe Puda's gross margin will continue to be under some pressure in the coming quarters. SG&A as a percentage of revenue remained relatively stable at 1.9%, compared to 2.0% in the last quarter. The sequential contraction in EBITDA margin (9.3% vs. 13.2% in Q2) was primarily owing to the compression in gross margin.
The company's balance sheet remained solid. As of the end of 3Q10, Puda had $80.1 million of cash and $42.7 million of total debt, implying cash per share of $3.84 and net cash per share of $1.79. Accounts receivable was $36.6 million, translating to DSO of 36.0 days. During the quarter, the company generated $9.3 million of operating cash flow, representing significant improvements from the $3.1 million in last quarter and the $1.3 million in 3Q09.
Updates on Coal Mine Consolidation Projects Pinglu Project Phase I: Puda received approval from the Shanxi provincial government for the geological technical report on the Da Wa Coal mine in November and is awaiting approval for the geological technical report on Guanyao Coal mine. Management indicated in the conference call that the approval was taking longer than expected but expressed confidence that Puda will receive the approval to start the transitional production for both Da Wa and Guanyao by the end of 2010. In addition, management indicated that the coal reserve from Da Wa coal contains higher thermal content than the original estimate based on the new official geological technical report. Guanyao Coal is also likely to possess higher thermal-content coal than the previous estimate. The loftier ASP commanded by higher thermal-content coal should provide further upside to the top line for next year.Notice Regarding Privacy and Confidentiality: This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request. Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice. Rodman & Renshaw, LLC may make a market in the securities being discussed. Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s). Member FINRA. Member SIPC.
Puda Coal, Inc. today announced that Shanxi Puda Coal Group Co. Ltd ("Shanxi Coal"), a 90% subsidiary of Puda Coal, entered into separate coal mining rights and mining assets transfer agreements with two coal mines located in Pinglu County, Shanxi Province, on October 28, 2010, Shanxi Pinglu Renling Coal Industry Ltd. ("Renling Coal") and Pinglu County Donggou Coal Mine ("Donggou Coal").
Pursuant to the agreement with Renling Coal, Shanxi Coal will pay Renling Coal an aggregate purchase price of RMB 205,000,000 (approximately $30.65 million) in cash, of which 38,830,000 ($5.80 million) is for Renling Coal's tangible assets and RMB 166,170,000 ($24.85 million) is for the mining rights of and compensation to Renling Coal.
"Following the successful acquisition of the first two Pinglu County mines in June 2010, we are excited to reach another milestone in our coal consolidation projects. By partnering with Mr. Zhao and Mr. Gao to co-develop these mines, we will have access to the capital needed to acquire the assets of all six mines simultaneously, thereby accelerating the time frame for the second phase of the Pinglu County project," said Liping Zhu, President and CEO of Puda Coal.
Source: PR newswire
"We expect the recovering steel industry to fuel demand for coking coal and we have a positive outlook for our coal washing operations in 2010," said Mr. Zhu. "We continue to make progress on our coal mine consolidation projects. The asset transfers of the Da Wa Coal and Guanyao Coal mines in Pinglu County were completed in April and we will pay for the assets transfer when the additional registered paid-in-capital of Shanxi Coal is confirmed by the Shanxi government office. Pre-construction activities at these two mines are currently underway. We are working closely with the Shanxi government and expect to receive approval for the business license transfers for all eight of the Pinglu County mines in the near term."


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The Wild Hunt buy it
DISK BY The Tallest Man on Earth merch
CD ALBUM (Dead Oceans 2010)
Songs from The Wild Hunt logged in KDHX's playlists:
Burden of Tomorrow Buy it!
King of Spain Buy it!
King Of Spain Buy it!
Love Is All Buy it!
Thousand Ways Buy it!
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logo and the Spintron logotype are trademarks.KDHX contact: membership.


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Due to size, cannot be shipped to Alaska, Hawaii or Puerto Rico
(based on 30 reviews)
Ratings Distribution
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of respondents would recommend this to a friend.
Best Uses
Most Liked Positive Review
Insane value, fantastic dolly!
I have owned this dolly in excess of 10 years and I have used and abused it. I have used this dolly to move every kind of load imaginable including refridgerators, washers, dryers,...Read complete review
I have owned this dolly in excess of 10 years and I have used and abused it. I have used this dolly to move every kind of load imaginable including refridgerators, washers, dryers, stoves, water heaters (not always empty), boxes filled with metal and books - you name it I have moved it with this dolly upstairs, downstairs, etc.. The large wheels make it easy to navigate stairs and other "bumps". Of all the loads I have carried with it, I have never been dissapointed! I have even exceeded its load rating without failure (but I do NOT recommend doing so for safety reasons - but sometimes you gotta do what you gotta do). I have even left this thing out in the rain a few times. Also, I use a ratcheting tie down strap (also available at H.F.) to secure large and heavy items to the dolly, especially when going up and down stairs.The ONLY negative I have experienced is that the pneumatic tires do not stay aired up and I always check the pressure and air them up, especially if I am planning on moving appliances or other heavy items, as low pressure in the tires actually makes it very difficult to roll when loaded. When aired up though, this thing absolutely moves mountains. Some of the welds aren't the prettiest but I dont buy a dolly to look at it I buy it to move stuff!The regular price is great, but you can catch em on sale and use 20% off and you will never find a better deal! I know I rambled a bit on this, but I can't help it! Buy this dolly if you need a good, reliable workhorse and you will never regret it!
Most Liked Negative Review
Junk Wheels
tires are Junk , new tires cost more than this thing cost as a whole . I used this hand truck maybe 6 times and the valve stems are leaking so bad that I need...Read complete review
tires are Junk , new tires cost more than this thing cost as a whole . I used this hand truck maybe 6 times and the valve stems are leaking so bad that I need to buy new wheels for it already
Reviewed by 30 customers
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buy this!
By zenci
from new york, ny
Comments about Haul-Master 600 lb. Capacity Heavy Duty Hand Truck:
i seldom review items, especially if they are good. but i felt like i should let everyone know that this has been super helpful while moving. i contemplated buying the larger wheel one, but it was heavier and you need something light to go up and down stairs. so i definitely think this is the best size for moving, i was able to move a 2-person sofa by myself. i was able to also go up and down the stairs with this. it is also bigger than the dinky trucks provided by default by the most famous moving company.
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(9 of 9 customers found this review helpful)
By Theo
from Louisville, KY
About Me Avid Do-It-Yourselfer
Bottom Line Yes, I would recommend this to a friend
(2 of 2 customers found this review helpful)
Worked like a charm after Sandy
By Clean
from NY/NJ
This was one of my "heros" of Sandy clean up. 32 and 44 gallon refuse containers filled to the brim, unable to lift, but used this to wheel it to the street.
Woody haulin
By Johnboy
from PA
I have had mine for years now. I use it mostly for hauling fire wood. This has taken the abuse and came back for more. I would buy another if it goes out on me.
(4 of 5 customers found this review helpful)
Simple, well made hand truck.
By Pinball Wizard
from Atlanta, GA
I already own one convertible hand truck, but I decided to pick up a second basic 2 wheel one to keep at my storage unit. I am an arcade game collector and have a number of other heavy items up at storage. At times, it can be a bit of a pain to take my hand truck with me to storage and back. This basic P-handle hand truck has a pair of pneumatic tires that will roll over most any terrain easily and offer a smooth ride for whatever you might be moving. They also have inner-tubes which should help keep them from going flat. The wheels also have inner and outer ball bearings which help reduce rolling resistance and fatigue, and they are held in by cotter pins which makes repair or replacement very easy. The wheels are also spaced a bit wider than some hand trucks offering better side to side stability for tall loads.The only negative items I can find, and these are minor, is that the welds are a little sloppy. Not weak, just a tad sloppy, and the tires have a rather strong smell when new. The hand truck works as it is designed to. It's a tool designed for moving loads around, and it performs well. I moved a 300LB arcade machine with ease this afternoon.So, if you are looking for a good basic two wheel hand truck that might see some outdoor use, this one represents a good value that is well made and gets the job done. Should last many years.
(4 of 4 customers found this review helpful)
still going strong
By Chief Crazybear
from mountainair Nm
I wont buy another one of these as the one I have was bougth back in 1985 to move barrels of racing fuel, well it still is working hard so I don't have to lol, for the money its a great deal and if you add the no flat tires you got one hell of a helper and the best part you dont need to feed it lol.
(1 of 2 customers found this review helpful)
Excellent hand truck
By Butler Guy
from Butler PA
Igot this and im so impressed with it better than an expensive alunimum hand truck at a much lesser price. When i got it i imediatly swapped the wheels with the GRIP non flat hand truck tires the yellow ones. With these wheels they are good for indoor use as flat free tires are non marking, good on floors. Asi mainly got this for local events like swap meets etc. You can't go wrong with this hand truck its good unless you change the wheels to puncture proof or flat free tires of your choice. and they won't loose air if you don't need to use it in a while.
(1 of 1 customers found this review helpful)
By MTM
from Mobile, AL
Needed something to have just to move items around and this fit the bill, especially on sale. Have had it several months and had bought one for where I work as well. That one gets regular abuse and still gets the job done no questions asked.
It moved 600 lbs
By Bee Man
from Georgia
I had to move a 600lb barrel of sugar with this truck. I doubted it would handle it but it did. I made sure the tires were filled to capacity and slowly moved the barrel. It was kind of scary but it did move the barrel over 100 feet in my back yard. Ratchet straps were used to fasten the barrel to the truck. This truck is highly recommended.
(2 of 3 customers found this review helpful)
great to have around the house
By LeftLane
from Alabama
Bought this about 2 months ago. On sale so the price was great. Used around the shop many times, also helped move a family member and carried the load each time. Saves the back, thats worth the price in itself. No tire problems at all, they are pneumatic so you will have some sag on heavier items but it didn't affect it much. Very happy with it.
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text:
pic of the camo guns
Posted 16 March 2009 - 06:39 PM
May God have mercy upon my enemies, because I won't!
Sponsored by: Urban Ops Armory
Posted 18 April 2009 - 08:40 PM
^^ the gun looks sweet, but why not paint the full gun? the grips, ect.
might make it look more even, and camo better... love the pattern though
might make it look more even, and camo better... love the pattern though
Posted 30 April 2009 - 07:25 AM
I didn't paint the whole gun, because i change my mind to often. When i get bored with this paint job i will change it and paint something else. Plus i didn't feel like baking it and all that. This was a quick 1 hour paint job.
May God have mercy upon my enemies, because I won't!
Sponsored by: Urban Ops Armory
Posted 19 May 2009 - 07:36 AM
Multicam take one.
Attached File(s)
multicam_gun_005.jpg (234.66K)
Number of downloads: 5
multicam_gun_004.jpg (237.03K)
Number of downloads: 8
There are three types of people in this world, people who watch things happen, people who make things happen, and people who wonder what happened. Which one are you?
Sick cocker. http://s643.photobucket.com/albums/uu153/wolfman350/
Sick cocker. http://s643.photobucket.com/albums/uu153/wolfman350/
#35 Guest_cranbushball_*
Posted 27 October 2010 - 08:04 PM
Posted 03 July 2012 - 09:53 AM
These are really sweet man, like something right out of COD if you ask me. xD
Even the special ops drink herbal tea to keep them healthy and focused. In particular the special ops enjoy; Organic Papaya leaf tea, Organic Papaya Tea, Organic Passion flower tea and Organic Passion Tea. Organic Herbal tea is great for health and clarity.


text:
This is the rough cut of the Prop 8 protest march (rally) on November 12, 2008 (11/12/2008) in New York Cith (NYC). There were well over 10,000 people there. More pictures tomorrow.
Among those marching were Larry Kramer, Whoopi Goldberg, Jake Shears, Dan Savage, Andy Towle, Jefferey Self along with sidekick Cole Escola
Wednesday, November 12, 2008
Prop 8 Protest in New York on November 12, 2008 (11/12/2008)
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Posted by Jon-Marc McDonald at 10:34 PM
1 comment:
Thanks for posting this!
- November 13, 2008 at 7:34 AM
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text:
Max and Dave discover there's a guy living in their ceiling. Penny encourages Alex to start dating again and unknowingly sets her up with the ceiling guy. Jane pushes Brad to go on a couples date with Brad's married coworker.
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Effective Parenting (Aina) was interviewed by freshbenies.com on the topic of your kids and social media. Aina offers 6 tips on how to safely bring social media into the family.
6 Ways To Manage Your Kids & Social Media
Let us know your thoughts. Enjoy.
Home, what is home you might ask? For many people there are different definitions of what home means to them. For some, home could mean the house you live in, or home meaning a place to go to after being away for awhile. There are many different meanings of home for many different people. But for me, home means one thing.
At this time in my life, my family and I are getting to experience what it is like to move. We sold our house and now we are looking into having to buy a new one. There are many emotions that we did not realize we were going to feel having gotten into this. Throughout the whole situation, we have dealt with happiness, stress, sadness, and much more. But, through it all we have decided to stick together, and lean on one another.
When looking for a new home it can be exciting. You get to pick out your room and decorate it. You get to furnish it and put everything in its proper place. You also get to envision what it will be like when you have friends and family over. Sitting near the fire or having a nice dinner all together talking about the many joys that happened that day.
Once all that excitement is settled and you have to start packing up your old house, you realize that you have to leave some things behind. Like, memories and laughter that you have shared for so long in a home. For me I grew up in this house. I have never really experienced what it is like to leave things behind. After a while the happiness starts to fade away as you realize you have to move on.
But over the time of packing and spending these last few months in my home, I realized that the house is not what makes it my home. It's the things beneath the brick and stone that leave marks and memories that will last a life time. It's the time you spend together with your family and enjoy their company. So for me it is not the house that makes it my home, it is the people that I share life with everyday. It's the memories, through the happy and the sad. Home for me is not a house, home is my family.
"What is different about parenting children that have been adopted as opposed to biological children?"
My wife and I are the parents of two wonderful, incredible children who we adopted internationally. Our 12 year old son was adopted from St. Petersburg, Russia at the age of 21 months, and our 4 year old daughter was adopted from Guatemala City, Guatemala at the age of 7 months. I have often been asked, "What is different about parenting children that have been adopted as opposed to biological children?" It's a question that, to be perfectly honest, I have struggled to answer myself on many occasions. Since my wife and I don't have any biological children, we can't really provide a first-hand comparison, but can only compare our parenting experiences to those of our friends who have biological children.
Often, when dealing with behavioral , emotional, or spiritual issues with our children, I have to stop and ask myself, "Is this an issue that has its roots in the emotional and spiritual effects of being adopted, or is it simply the normal, challenging behavior of ANY child of this age?" With over 10 years of experience in raising adopted children, some things are fairly easy to determine which category they fall into, but there are many more times when it is NOT so obvious. So in some ways, raising adopted children is no different than raising your own biological children – much of the time, we as parents are clueless and somewhat at a loss for answers!! Seriously though, regardless of the birth origin of your children, we have to pray and seek God for the wisdom we need to deal with each specific challenge that we face.
With that said, there are a few things that from our experience, we can say for certain are unique challenges faced by adoptive parents. On a very practical level, if you have ANY information on the health profile of one or both of the birth parents, it is usually very limited. So those annual child visits to the doctor become interesting, because you just don't know you child's family medical history. From an emotional and spiritual perspective, adoptive parents will certainly have to deal with some abandonment and mistrust issues along the way. We've heard from numerous adult adoptees, who all say that there has not been a single day in their life that they haven't had at least a passing thought of wondering who their birth parents were, and why their parent(s) gave them up for adoption. This is an issue that requires constant attention, and as a result, adoptive children need constant and consistent affirmation that they are loved, valued and important. ALL children need that of course, but adopted children need it 10x more, because of the sense of abandonment and loss that they already feel due to their history. The last unique challenge I will mention for adoptive parents, is one that is near to our hearts – neurotransmitter and sensory issues. This is an entire field of study in the adoption community, because it is so prevalent in children that are adopted out of orphanages or are removed from their birth parents due to abuse or neglect. Children with these issues are FAR too often mis-diagnosed by the educational and medical communities as being children with ADD/ADHD, Oppositional Defiance Disorder (ODD), and a host of other "conditions", OR as just being rebellious, difficult children. In fact, many times, it's simply that the chemical levels in their brain and/or the functioning of their sensory systems are out of whack. There are numerous clinics that offer specialized treatment for neurotransmitter and sensory issues, often involving nutritional supplements and altered or special diets. We have had firsthand experience with this subject, and can tell you that finding one of these clinics has saved us untold grief and suffering in raising our two children.
So, in conclusion, what's so different about raising adopted children? In some ways, parenting doesn't change – children need love, security, consistent discipline, and parents that model through their own lives what they teach and expect. However, there are a few, but very critical areas that require special attention and awareness, and can present some unique challenges – emotional insecurity and distrust, abandonment issues, and neurotransmitter/sensory issues. For any adoptive parents wanting more information on any of these subjects, feel free to contact us at firstname.lastname@example.com.
Tags: adoption
I would like to introduce you to Paul and Diane Anderson.
They are leaders of a parenting LifeTeam for adopted children in Family Life ministries at Covenant Church. Paul and Diane have two beautiful adopted children. Their 12 year old son Alex was adopted from St. Petersburg, Russia at the age of 21 months. Their 4 year old daughter Mandy was adopted from Guatemala City, Guatemala at the age of 7 months.
Paul and Diane have a deep passion in connecting orphan children with Christian families. Because of this passion, they created a ministry called H.E.R.O. (Helping Every Rescued Orphan)
H.E.R.O.'s vision is to see every orphaned child find a Christian family to call their own, and to support, train and encourage foster and adoptive families through the unique challenges they face.
H.E.R.O.'s mission is to:
(1) Raise awareness of the God given mandate to "care for the orphans"
(2) Provide information and resources to couples and individuals interested in fostering or adopting
(3) Provide support and encouragement to couples and individuals as they walk through the fostering and/or adoption process
(4) Provide support, training, and encouragement to help couples and individuals through the lifelong journey of foster/adoptive parenting.
We are excited to announce Paul and Diane will be guest post writers for Effective Parenting. Their articles will address many of the H.E.R.O.'s mission topics listed above. For those of you who've adopted children, you will benefit greatly from Paul and Diane's experience and extensive research in behavioral, emotional, and spiritual challenges.
Please welcome Paul and Diane to Effective Parenting.
Blooper…never knew it would be so tough to do an introductory video! We strive to have a great time together. Family can be fun!
Words: Placide Cappeau
Music: Adolphe-Charles Adam
- O holy night! The stars are brightly shining,
- It is the night of our dear Saviour's birth.
- Long lay the world in sin and error pining,
- 'Til He appear'd and the soul felt its worth.
- A thrill of hope the weary world rejoices,
- For yonder breaks a new and glorious morn.
- Fall on your knees! O hears the angels' voices!
- O night divine, O night when Christ was born;
- O night divine, O night, O night Divine.
- Led by the light of Faith serenely beaming,
- With glowing hearts by His cradle we stand.
- So led by light of a star sweetly gleaming,
- Here come the wise men from Orient land.
- The King of Kings lay thus in lowly manger;
- In all our trials born to be our friend.
- He knows our need, to our weakness is no stranger,
- Behold your King! Before Him lowly bend!
- Behold your King, Before Him lowly bend!
- Truly He taught us to love one another;
- His law is love and His gospel is peace.
- Chains shall He break for the slave is our brother;
- And in His name all oppression shall cease.
- Sweet hymns of joy in grateful chorus raise us,
- Let all within us praise His holy name.
- Christ is the Lord! O praise His Name forever,
- His power and glory evermore proclaim.
- His power and glory evermore proclaim.
Merry Christmas from the Cheek family


text: The firm's leadership structure is designed to effectively integrate experience, specialized skills and other individual attributes to ensure continuity in management, design, production, and construction oversight to the benefit of each project. Responsibility is delegated among project team members in a manner that encourages each to take personal ownership and responsibility in the assignment. An open, collaborative, internal design review process fosters a similar dialogue with the client through which marketing, technological and economic factors may be appropriately addressed to assure the best possible outcome.