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This is correct. Reid's use of the word "Negro" was tin-eared and offensive (not to mention, in the context of even a "deep background" interview, incredibly dumb). But unlike Lott, the idea he was expressing amounted to analysis, not a prescriptive political vision. What's more, his analysis was accurate. As excellent pieces by Dave Weigel and Omar Wasow show, Reid's thoughts about the nature of Obama's appeal are backed up by research about how voters perceive black candidates; they are also, as Jeff Zeleny writes for the Times, consistent with things that Obama himself has said.
This is interesting stuff—at least as interesting, in the long run, as the latest mess Harry Reid has created for himself. But by conflating the two sets of remarks—or at least, by not taking a skeptical look at efforts to conflate them—much of the press effectively conspires to prevent itself from digging into this fertile ground. There is no way to explore the complicated way that race and politics interact, and to write intelligently about that intersection, if you are going to seriously entertain the prospect that Reid's and Lott's comments are equally offensive. In an ideal model of the press, journalists are stewards of public discourse, people who set public norms but also help the public talk about knotty subjects like race and racism. A failure to draw important distinctions doesn't just shirk the responsibility implied by that model, it actively frustrates it.
The traditionalist's objection is that it's not up to reporters to make those determinations; it's up to them to report the news. And not every news story, of course, is an exegesis on race and politics; some are just accounts of what people said.
There's something to that. But even "reporting the news" consists of making endless little judgments. Here, for example, is another portion of the NYT story linked above:
Politically speaking, there is a fundamental difference between Mr. Reid's travails and those of Mr. Lott. While Mr. Reid was instantly forgiven and strongly supported by Mr. Obama, Mr. Lott was not by the Bush administration (Mr. Lott essentially accused the Bush White House of abandoning him.)
Based on that passage, it's fine for reporters to make interpretations and draw conclusions—on their own informed authority—about the political fallout from events. Why, then, shouldn't they be able to bring the same critical approach to bear on events themselves? That's what Bresnahan did in his Politico story—and it's something we should expect from journalists more often.


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Franny and ZooeyThe author writes: FRANNY came out in The New Yorker in 1955, and was swiftly followed, in 1957 by ZOOEY. Both stories are early, critical entries in a narrative series I'm doing about a family of settlers in twentieth-century New York, the Glasses. It is a long-term project, patently an ambiguous one, and there is a real-enough danger, I suppose that sooner or later I'll bog down, perhaps disappear entirely, in my own methods, locutions, and mannerisms. On the whole, though, I'm very hopeful. I love working on these Glass stories, I've been waiting for them most of my life, and I think I have fairly decent, monomaniacal plans to finish them with due care and all-available skill. |
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Franny & Zooey is an amazing study in characterization. - Goodreads
the ending was one of the best I'd ever read.. - Goodreads
Salinger, as I've stated before, is a master of prose. - Goodreads
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User Review - Eliseu - GoodreadsOh, dear. I mean, meh. Not The Catcher in the Rye. Read full review
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User Review - Meghan - Goodreads'It's us,' Zooey repeated, overriding her. 'We're freaks, that's all.' ~ JD Salinger Read full review
Common terms and phrases
abruptly absolutely Anyway ashtray asked bastard bathmat beautiful Bessie Bloomberg Boo Boo boy friends buddy Buddy Glass Carole Lombard chair chicken cigar cigarette closed couch crazy damn door dragged everything eyes face feel fingers finished Franny looked Franny's funny gave girl Glass God's sake goddam hand happens head hear hell J. D. Salinger Jesus Prayer kind Kleenex knew Lane Lane's last night least legs LeSage letter lips listening mean mind minutes morning mother mouth nail file never nice once picked pilgrim psychoanalyst razor Seymour shaving shower curtain sitting smoke sorry sound stared starets stood stop suddenly supposed talking tell terribly there's thing took trifle turned voice waiter Waker Wally Campbell washbowl watched weekend What's window Wise Child worry writing table young Zooey Zooey Glass Zooey's

subset: commoncrawl


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Keukenhof- Lisse
Dear Spring, It's really nice to see you. Sincerly, your Holga
This photo was shot on film. Taken by ohpleasedontgo with an Agfa Clack loaded with Fuji Velvia 50 film in Lisse, Netherlands. These tags describe this photo: holga, agfa, clack, fuji, velvia, 50, 100, double, flowers, spring, swan, keukenhof, lisse, and ohpleasedontgo. Date: 2012-03-23. Time: Afternoon. This photo can also be found in the album Dear Spring, It's really nice to see you. Sincerly, your Holga .Please login to get more out of this site
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Cinco de Mayo dinner coming to Evan's Kitchen
Sacramento chef Evan Elsberry is at it again, hosting another themed wine-paired dinner at his restaurant, Evan's Kitchen. The Cinco de Mayo Fiesta will start moving dishes at 6 p.m. May 5; cost is $75 a person, with reservations at (916) 452-3896. Motor over to 855 57th St., Sacramento, in the Antiques Mall; www.chefevan.com.
First course: sweet corn soup with huitlacoche quesadillas and crème fraiche, served with Conundrum white blend
Second: halibut tacos with chipotle remoulade and pickled cabbage, with Villa Maria sauvignon blanc
Third: ancho tamales with Yucatán pork, charred tomatillo sauce and criolla cebolla, with Conundrum red blend
Fourth: filet mignon with cabrales demi-glace, refried beans, and arroz con crema puree, with Ferrari-Carano siena
Dessert: caramel-rum bananas with flourless chocolate cake, cocoa-almond brittle and saffron custard, with Whiskers Blake tawny port and Pacific Rim riesling
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Appetizers brings you the latest restaurant happenings, interesting tidbits on good food and events, and -- of course -- great specials and deals.Regular contributors
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Twitter: @chris_macias
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Counter Culture
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Twitter: @blarob
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The Sacramento Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.


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Any suggestions for acoustic bass guitar plugins ? Apart from
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encompassing and less in the forefront. And maybe some sweet and subtle
enveloping effect. This is of course to use with Ardour3.Thanks !
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Speakers Corner
It's free to register, to post a question or to start / join a discussion
'Just another gun massacre...'
« first « previous … 2 3 4 5 6 next »
Likes # 0
Posted July 21, 2012 at 7:31AM
Was how it is being talked about on the TV this morning, but will it create a serious gun control debate in America?
NO, I thought not. Their precious right to bear arms constitution must be guarded at all cost.
Likes # 1
Posted July 22, 2012 at 2:59PM
Those recalls were a knee jerk reaction by the government, and were not very well thought out, and I think recent UK incidents proves this!.
I think it was a knee jerk reaction, most of the legally held firearms in the UK were owned by members of shooting clubs and never caused any problem. The two incidents with Ryan and Hamilton were used as an excuse to deprive a lot of people of their legitimate hobby and also put a lot of small gunsmiths out of business.
As has been proved since the ban it has not stopped criminals getting hold of illegal firearms and it did not stop the madman Derrick Bird from embarking on his killing spree.
You cannot legislate against a maniac!
Likes # 0
Posted July 22, 2012 at 3:04PM
Totally agree.
And it just doesn't cover firearms!.
Likes # 0
Posted July 22, 2012 at 3:21PM
"Certainly not suggesting you are lying!"
If you suggest something should be taken with a pinch of salt the generally accepted meaning is that you doubt the veracity of the statement.
If you suspect that the statement may not be truthful, then you obviously must think it is untruthful, i.e. it is a lie.
"But a bunch of guys, even without alcohol are very likely to display bravado to impress their mates,"
Your mates might, mine don't, and if they do we are not mates for long. No reason for them to try and impress anybody, nobody there to impress anyway, we all knew each other pretty well, like I said, all family men in their fifties or so, all serving or ex-service, just making quiet conversation sat on the porch while making sure that the sun went down safely.
Likes # 0
Posted July 22, 2012 at 5:56PM
fourm member now you are adding all gun homicide into the equation but a few or a lot of those in America could be legal shootings, and that old "As the statistics clearly demonstrate" saying is such a load of horse manure it always comes out when some one is floundering.
You can get statistics to say what ever you want if you are prepared to mess with them, and I'm sorry to say that the crazy will always mess up the statistics.
Likes # 0
Posted July 22, 2012 at 6:03PM
I remember listening to some Americans debating gun control (not on TV, I was with them) and the statement that got widest support was "Well, if they want my gun they can come and get it, but it will have an empty magazine and a smoking barrel"
I'm taking a pinch of salt to the statement expressed by your drinking partners.
I don't doubt you was there and that they said it and that there was a consenus of opinion at that instant.
But did they really mean what they said?
I think not and there was an element of bravado entering into it and perhaps we'll have to agree to disagree on that. After all I wasn't there and don't know you or your friends but suspect they are normal decent people.
Likes # 0
Posted July 22, 2012 at 6:34PM
I have spent a lot of time in the US and have lost count of the number of times I have heard that said. It the de rigueur response by anyone who objects to gun control.
Likes # 0
Posted July 22, 2012 at 7:21PM
Charlton Heston famously said that 'they (gun law reformers) will have to take my Winchester rifle from my cold dead hands'.
American gun collectors like making that kind of statement - when you're there you hear lots of that kind of thing. The fact is, sooner or later gun controls will tighten, and then tighten some more, until eventually there will be no way an average American Joe can walk out of a gun store with a lethal weapon. It will come, but not for a good while yet.
I find a lot to like in America and in Americans, but this obsession with the right to bear arms isn't part of that. It comes from the history of the making of the nation, and it's time it was consigned to history.
Likes # 0
Posted July 22, 2012 at 8:13PM
I would want President Obama ...(along with bringing his troops back home from distant lands), to at least send out some sort of a message (like a refund on your guns and ammunition to gun-owners in his home town)... that might get the ball rolling...d'you remember that ' a small step for man ' speech from Neil Armstrong.
Likes # 0
Posted July 22, 2012 at 11:42PM
"I would want President Obama ...(along with bringing his troops back home from distant lands), to at least send out some sort of a message (like a refund on your guns and ammunition to gun-owners in his home town)..."
A few seconds thought should have sufficed to tell you that such a scheme would be totally impracticable. Who is to pay for all these refunds, and why on earth do you believe that people in one town would hand in their guns because the President offered them a refund? The "some sort of a message" it would send out is that the President has lost his marbles.
Likes # 0
Posted July 23, 2012 at 3:38AM
Derrick Bird's guns were totally legally owned and he'd owned the weapons for a number of years.There was talk of introducing Drs into the gun licence application process after his murderous killing spree,but I very much doubt this would have prevented him killing 12 people as when I spoke to him a few days before he was the same as he'd been for the fourteen years I'd known him so if a Dr had been asked to create a report on his mental state this would've been a positive report that he was mentally fit to hold a licence.Much like a vehicles MOT certificate,this proves that on the day tested,the vehicle was fit for purpose but 6mths down the road & the MOT proves nothing.
I know of an american friend & a german friend of mine that fell out as the german said to the american that the USA should tighten up gun controls,they were good friends and haven't spoken to one another since.
I've used guns whilst working on a farm,to shoot rabbits to feed my dogs but when I left the job I also left behind the need to use guns and haven't handled a weapon for over 20 years.I have another friend who came back from a holiday in the USA and incessantly brags about how he'd fired umpteen different guns,and he now visits the same friends in the USA simply because they own so many guns.
Didn't the UK have a gun amnesty where weapons could be handed in at police stations without fear of prosecution if it was an illegal weapon? I have no idea of its success/failure rate or even if it actually resulted in any weapons being handed in(but I'm sure someone will find the figure)I wonder how many americans would hand in any weapons if a similar scheme was run over in the USA.
I've been threatened with a shotgun(it was unloaded,but I didnt know this at the time)and it is a terrifying experience.The rest of the people in the room were in on the "joke" but I didnt see anything funny about it then,or now many years later.
No matter what laws were created to restrict firearm usage,these terrible crimes will still occur.The only way to stop them occuring would be to turn back time to when firearms didn't exist and that just isn't possible,so the human race will just have to carry on and steel itself for these occasional tragedies.
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Its a gift for the third birthday of my friends daughter. I find it always difficult to come up with gifts for children, especially if the birthday is shortly after Christmas and they already got everything. So how about a costume for the Kindergarten carnival party. Parents were asked before, they were not fond of princesses and fairies but liked the idea of an animal costume.
It's a Burda pattern January 2013. The fin and tail are interfaced and filled with old pillow stuffing. The smallest size in the original pattern was 110, but the birthday girl is only 98 so I've just omitted the rib knit cuffs. They can be aded later on as she grows. On the other hand it was so much fun that i will make her a new costume next year.
There is something else I've learned doing this project. Making fotos with a cell phone might be fast but the quality is crap. I hope to get some picks of the birthday girl wearing this.
velveteen, zipper, stuffig. interfacing
Jan 19, 2013, 05.01 AMby nouvellegamine
so cute! I love it!
Jan 15, 2013, 10.00 PMby barmaglot
so cute!
Jan 15, 2013, 01.43 PMby lucyl12
Very Cool. Well done.
Jan 14, 2013, 10.16 PMby wildcatspow
So cool!
Jan 14, 2013, 06.41 PMby mwelland
This is so cute!! And you've done a great job.
Jan 15, 2013, 01.21 PMby panifrau
Thank you
Jan 14, 2013, 06.11 PMby stars
Awesome! This looks so cool. What a brilliant present idea. My niece and nephew are January babies and I always wonder what to make them.
Jan 15, 2013, 02.23 PMby panifrau
Thank you. I'm glad you feel inspired. The January issue of burda has always a costume collection, the children costumes are always fun.
Jan 14, 2013, 03.45 PMby Mary Athey
Oh I love.this!! You did.a smashing job on this. I bet its fabulous on x
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guide dog
guide dog
Dog professionally trained to guide and protect its blind master. They have also been used to assist persons with hearing impairments and restricted mobility. Systematic training of guide dogs originated in Germany during World War I to aid blinded veterans. At the age of approximately one year, the dog is trained for three or four months. Retrievers and German shepherds are the most widely used breeds.
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Developers Diversified Realty (NYSE:DDR)
Q3 2007 Earnings Call
October 26, 2007 11:00 am ET
Michelle M. Dawson - IR
Scott A. Wolstein - CEO
William H. Schafer - CFO
Daniel B. Hurwitz – President, COO
David J. Oakes – EVP, CIO
Ambika Goel - Citi
Jay Habermann - Goldman Sachs
Christeen Kim - Deutsche Bank
Michael Mueller - JP Morgan
Matt Ostrower - Morgan Stanley
Jeff Miller - JMG Capital
Rich Moore - RBC Capital Markets
Jim Sullivan - Green Street Advisors
Welcome to the Developers Diversified Realty earnings conference call. (Operator Instructions) I would now like to turn the call over to our host, Michelle Dawson. Please proceed, ma'am.
Michelle M. Dawson
Thank you, Lacey. Good morning, and thanks to everyone for joining us. On today's call, you'll hear from Scott Wolstein, Dan Hurwitz, Bill Schafer and David Oakes.
Before we begin, I'd like to alert you that certain of our statements today may be forward-looking. Although we believe that such statements are based upon reasonable assumptions, you should understand those statements are subject to risks and uncertainties and actual results may differ materially from the forward-looking statements.
Additional information about such factors and uncertainties that could cause actual results to differ may be found in our press release issued yesterday and filed with the SEC on Form 8-K, and in our Form 10-K for the year ended December 31, 2006 and filed with the SEC.
I'd also like to request that callers observe a two question limit during the Q&A portion of our call in order to give everyone a chance to participate. If you have additional questions, please rejoin the queue.
At this time, I'll turn the call over to Scott Wolstein.
Scott A. Wolstein
Thank you, Michelle, and good morning, everybody. I am pleased to report this quarter's funds from operations of $0.80 a share. This figure includes approximately $0.03 per share, or $4.2 million of aggregate gains. This transactional income compares to approximately $0.15 per share or $16.8 million of gains in the same quarter of 2006.
After adjusting for these items, our core FFO per share increased by more than 12% from the prior year. Similarly, on a nine-month basis after adjusting for these items, core FFO per share increased by approximately 15% as compared to the prior year, reflecting the quality of our portfolio and the continued strong demand for well-positioned retail space.
As you will hear throughout the call, our accomplishments over the last three months reflect our continued focus on creating value for shareholders as follows:
(1) By improving the quality of our portfolio through active portfolio management.
(2)By increasing the size and scope of our development pipeline.
(3)By formalizing and growing our funds management business.
(4) By broadening our investment strategy to include select emerging markets with high growth profiles.
(5) Strengthening our balance sheet to levels at least comparable to where we were prior to the Inland acquisition.
These initiatives clearly leverage our core competencies and national platform in an efficient and profitable manner that will enable us to grow long-term earnings, dividends and asset value.
At this point, I'd like to turn the over to Bill Schafer for his comments on the balance sheet.
William H. Schafer
Thank you, Scott. To add to Scott's remarks, I'd like to highlight a few important items from the quarter and their impact on our financial position. As we indicated on our second quarter call, we sold approximately $600 million of assets in late Q2 and early Q3, including three redevelopment assets acquired from Inland that were sold to MDT for approximately $50 million.
The remaining assets were non-core, smaller, older assets in more remote locations with limited growth potential and higher capital and management requirements; and therefore, were sold to a third party. This portfolio included assets acquired from Inland as well as our existing portfolio.
While the sale of these assets was slightly dilutive to current FFO, the result had a significant positive impact on the quality of our asset base, the effectiveness of our operations, and the strength of our balance sheet as sales proceeds were used to repay debt.
We continue to operate with a conservative balance sheet and have already returned our debt and coverage ratios to levels that existed prior to the Inland acquisition. Over the last few years, the company has grown significantly, providing us with considerable and stable critical mass and strengthening our position as a leader in our industry. This growth has been achieved without any deterioration in our balance sheet. In fact, the balance sheet is much stronger than it was a few years ago simply due to the significant increase in total equity.
Our growth has been, and will continue to be, financed through various sources of capital. We've demonstrated this broad access to capital through all our previous acquisitions over the last few years including JDN, Benderson, CPG and now Inland. As our development pipeline continues to grow, having access to both public and private debt and equity capital will continue to provide the funding necessary while enabling us to maintain a solid balance sheet. We have made great strives to diversify our sources of funding and limit our reliance on any one source, especially the most costly source, common equity.
I would like to comment more specifically on our capital position given the recent volatility in the debt markets. During the last few months, spreads have increased to levels higher than I can remember. In fact, there was a period of time in which certain CMBS financings may not have been available at any price.
This uncertainty reemphasizes the need to access diverse sources of capital, maintain liquidity and stage debt maturities carefully. Most significantly, it underscores the importance of a conservative balance sheet that provides flexibility and access in capital and enhances our ability to manage assets with limited restrictions. This position consequently allows us to be opportunistic in our investment strategy and in accessing the most efficient and lowest cost of financing available.
With regard to debt maturities, I believe we are in a strong position that will help insulate us from continued volatility. On our balance sheet, we've addressed all remaining 2007 maturities, which aggregate less than $10 million. Our 2008 aggregate maturities are less than $400 million, approximately 75% of which relates to mortgage debt.
We've also made sure our liquidity continues to be strong. At September 30, 2007 we had over $600 million available on revolving credit facilities. In addition, we expect to increase our secured term loan facility through our accordion feature by over $100 million within the next few months to incorporate certain Inland assets that are already subject to low loan-to-value first mortgage loans. This capacity, combined with our retained cash flow and additional asset sales, will provide us with flexibility in funding our development pipeline and other investment opportunities.
With regard to joint venture debt maturities, I also believe we are in a good position. The remaining $85 million in debt that matures in 2007 is already being extended. I'd also like to emphasize that over half of the $600 million in 2008 debt maturities are not scheduled to mature until December of 2008 and more than half of the remaining 2008 maturities have extension options available.
I believe we have effectively mitigated our refinancing risks and maximized our flexibility. Our banking relationships, which are broad and competitive, will reduce the impact of volatility in capital markets, and we have taken proactive steps to maintain and improve the strength of our balance sheet in recent quarters. We will continue to do this in the future.
Now I'd like to turn the call over to Dan.
Daniel B. Hurwitz
Thank you, Bill and good morning. The third quarter was another successful quarter for our leasing and development teams. Strong occupancy and leased rates, continued rental growth with modest capital expenditure, and record volume of leasing have all been a function of our continued focus on improving the quality of our portfolio through active asset management and a consistent demand from tenants, which we continue to see across our portfolio.
Of particular note this quarter, our leasing team had a record quarter in terms of number of deals signed, volume of space leased, and rental spreads on new leases. Specifically, there were 179 new leases signed representing over 940,000 square feet of GLA with an average spread on a cash basis of over 41%.
As mentioned, the 41% spread on new leases is the highest level we've achieved within our portfolio. This impressive figure was driven by many deals at many different locations across the country, but a few highlights include: in Amherst, New York we had added a 15,000 square foot Eastern Mountain Sports where the former tenant was paying a $1.55 a foot and the new rent was $21 a foot; in Monaca, Pennsylvania we added Office Depot and Circuit City to re-tenant a former Shop 'n Save Supermarket where the old rent was $3.80, with the new rent being $12.95; and in Chester, Virginia, we had a former Rite Aid that was paying us $3.23 on 15,500 square feet that was replaced with a Petco with a new rent of $15.
We also executed 299 renewal leases comprising 1.6 million square feet of GLA at an average spread of 7.4%. In total, our leasing teams executed 478 leases aggregating 2.5 million square feet of GLA at an average spread of 13.8%. The 478 leases signed and the 2.5 million square feet of GLA are record highs for our leasing department.
Our leasing team has consistently performed at a very high level, and this quarter is obviously no exception. The record leasing activity this quarter is a testament to the hard work of our leasing professionals in the various support departments with whom they work within our company. I'm justifiably proud of what they have all achieved this quarter.
We've all seen the headlines recently lamenting the plight of sub-prime borrowers and the general troubles in the housing market, and how this has the potential to impact overall consumer spending and the retail industry in the midst of the current economic turbulence. The reality is that our portfolio is well insulated from this uncertainty and has consistently performed well throughout many economic cycles.
Broadly speaking, national retail sales have grown very consistently since World War II including during several recessions and housing slowdowns, a fact that we believe is missed in most press coverage of the current environment. More specifically, over the last seven years, we've had over 20 quarters of overall leasing spreads in excess of 11%. Similarly, we've had very little volatility in our long-term portfolio lease rate, which has remained at approximately 96%.
Moreover, we've been able to consistently achieve these results without significant capital investment in tenant improvements or leasing commissions. While tenants may come and go over time, shopping centers that are well located and actively managed will continue to perform well.
Clearly, we are very conscious of and sensitive to the risks posed by the current economy. But we feel comfortable with where our portfolio is positioned and the general diversity and credit quality of our tenant base.
On the development front, I'm pleased to report that we continue to find opportunities in under-served regions. The shakeup in debt markets has clearly impacted lower-tiered developers to the benefit of larger ones and as a result, we are rapidly seeing more opportunities and less competition.
Due to these current conditions, we have increased our investment in development where spreads between development yields and acquisition pricing still reflect prime opportunities to create value. Our development pipeline has grown considerably from $3.5 billion in the third quarter of '06 to over $4 billion today. Total construction in process has increased from $450 million in the third quarter of '06 to over $600 million in this quarter. As a result of this ramp up in our development pipeline, we are anticipating record deliveries in 2009 and 2010.
In addition to our robust domestic pipeline, we have also increased our presence in faster growing economies through investments in development projects in Brazil, Canada and Russia. We have pursued investments in these markets in a prudent and strategic manner, allocating a nominal amount of capital to these markets relative to our total domestic asset base.
Of particular note this quarter, we entered Canada through a 50% joint venture with Rice Construction, a strong Toronto-based developer. The joint venture's first development project will be a 74-acre mixed-use project, comprised of approximately 700,000 square feet of lifestyle, retail, office and residential uses in suburban Toronto. The estimated cost of the project is expected to be approximately $150 million Canadian, with construction expected to begin in spring of 2009 and retail tenants opening as early as fall of 2011.
We are pleased to be able to enter the market in this manner because the opportunity presents a very attractive development project in a market with strong demographics and considerable supply constraints due to recent greenbelt regulations that permanently restrict new development in areas surrounding the Toronto MSA.
This is an exciting opportunity to control one of the limited remaining large parcels of developable land in this rapidly growing and nearby market. We look forward to finding additional attractive investment opportunities to increase our presence in Canada. There was a presentation on our website that illustrates the many reasons why we believe this is an attractive investment.
In addition to the myriad of leasing and development initiatives that were ongoing throughout the quarter, we also completed a very successful company-wide portfolio review. At this two-week annual event, more than 100 departmental representatives, alongside Scott, David, Bill, and myself evaluated each asset's strategic position within our portfolio, identifying opportunities and challenges based on the assets' performance and competitive market positions.
This comprehensive asset management exercise resulted in over 300 action items to improve portfolio performance, pursue opportunities to create value, and generate better shopping venues for our tenants and consumers. Importantly, the portfolio review identified additional assets to consider for disposition as well, continuing our capital recycling initiative.
This quarter was a very active and successful quarter for our company on many fronts. Our leasing department produced record results. Our development pipeline expanded. Our international footprint increased through our joint venture in Canada and finally, we completed a very important asset management review of our portfolio, which will help us add additional value going forward.
We look forward to building on these successes and maintaining the positive momentum that we clearly enjoy in the current market. With that, I will turn the call over to David.
David J. Oakes
During the quarter, we continued to sharpen our capital allocation strategy, further implementing the relative value framework, executing key transactions, and broadening the scope of opportunities that we are evaluating.
For example, we completed the sale of three value-added redevelopment assets to Macquarie DDR Trust. Our current portfolio has a considerable number of potential redevelopments on which we expect to execute and we were happy to find a partner whose refined investment strategy lined up ideally to participate with us. This preserves our capital, while also generating attractive returns for us and our partner. Further, these property sales and the accompanying list of assets to which we gave MDT a right of first offer underscore our long-term commitment to this relationship.
We also continue to formalize our funds management business, which includes our long-term relationship with MDT as well as Teachers TIAA, the investors in our first commingled fund, as well as many others. Our joint venture program has historically generated significant returns for both us and our partners, and we recognize that continuing to operate with the same performance-driven philosophy is crucial to our growth in this arena.
While there may be some softening in the demand and pricing for lower quality assets, we continue to see strong investment demand from our institutional clients for well-positioned properties with a visible growth profile. We also continue to see very intense demand for our platform and expect to see our assets under management increase in the coming years, and we are staffing the department appropriately to ensure its success.
Also during the quarter, we repurchased more than $100 million of our stock at prices that we believe represented a material discount to the value of our assets.
Now, I will turn the call back to Scott for his concluding remarks.
Scott A. Wolstein
Thanks, David. The strategies and achievements we've highlighted during the last few minutes are initiatives you've been hearing us talk about for several quarters: improving the overall quality of our portfolio through disposition, development and acquisition; returning the balance sheet to levels comparable to or better than where we were prior to our Inland acquisition; increasing our investment in development where our capital can earn the highest return; selectively investing a reasonable amount of capital in international markets that offer superior growth and outstanding value creation opportunities; and investing in our stock at prices many cents below the value of our assets.
As we look to the coming year, we're refining our strategy to focus on further upgrading our portfolio through active portfolio management, including redevelopments and dispositions, which will have a long-term positive impact on our internal growth and cash flow; improving the quality of our FFO; growing our funds management business through execution for existing partners, and by adding new clients; using the current dislocation in the credit market to our advantage by finding broken developments or redevelopments or other unique investment opportunities created by the dramatic change in liquidity and the repricing of the risk; deepening our domestic development pipeline and broadening our international investments.
Based on this activity, we expect FFO per share for 2008 to be in the range of $3.95 to $4.05. The key assumptions that drive this guidance are as follows: same-store NOI growth of 2% to 2.5%, which is in line with 2007 and driven by consistent leasing spreads and stable occupancy; anticipated disposition of additional non-core assets; and a consistent level of transactional income.
In addition, 2008 development deliveries will be well below the 2007 level and well below our expectations for 2009 and beyond. There is no particular driver for this other than the projected timing of completions. In fact, we expect 2009 to be by far the strongest level of development deliveries in the company's history by a rather wide margin.
We acknowledge that this FFO growth is slightly lower than our historic norms, but we believe that the constitution of 2008 FFO will be higher quality and we would expect our FFO growth to accelerate dramatically in 2009 and beyond. The strategies and assumptions I just mentioned reflect the constant and strategic evolution of our business model as we continually strive to create value and enhance returns for our shareholders and clients. We are looking forward to putting these strategies to work at all levels throughout our organization.
With that, I would like to open the phone lines for questions.
Question-and-Answer Session
Your first question comes from Ambika Goel - Citi.
Ambika Goel - Citi
Can you comment on the level of transaction volume that's embedded in 2008 guidance? Is it specific deals that you have already set up that you expect to occur? Given that the level of transaction activity in 2007 was quite high, I just wanted to see what got you comfortable with 2008 levels.
David J. Oakes
We expect, at this point, the transaction volume in 2008 to be lower than the record volume in 2007. We've budgeted some expected asset sales, continuing to recycle capital and work on the assets that Dan mentioned specifically that came out of the portfolio reviews that might be good candidates for sale and do not have acquisitions identified at this point. So our budget currently is to be a net seller of real estate for 2008.
Ambika Goel - Citi
Specifically focusing on the gains, do you have deals in place that make you comfortable with transactional profits to be in line with the previous year?
David J. Oakes
We are comfortable with our guidance that transactional gains would be consistent with or somewhat lower than the level of 2007 that support the range that Scott provided.
Scott A. Wolstein
Ambika, most of that is merchant building gains based on actual development completions that already exist, which will probably be conveyed into joint ventures with financial partners, as we've done in past years. So yes, we've identified actual properties, the yields on those properties are already in place. We pretty much know what the cap rates would be on any sale or contribution to a joint venture.
Your next question comes from Jay Habermann - Goldman Sachs.
Jay Habermann - Goldman Sachs
Good morning, everyone. On the '08 guidance, calling for 5%, 6% growth year over year which again looks reasonable, but a bit of a deceleration. Can you just comment to what degree being a net seller next year, what sort of dilution you're expecting there? To what degree will you be a net seller in 2008?
David J. Oakes
Right now, for the budget we are expecting to be a net seller of several hundred million dollars of real estate in 2008.
Jay Habermann - Goldman Sachs
Can you just characterize the pipeline of acquisitions that you're actually looking at today?
David J. Oakes
I would say despite the slowdown a few months ago, there continues to be a healthy amount of products on the market and we continue to evaluate a very large number of acquisition opportunities across the spectrum of retail that are available today.
Scott A. Wolstein
Jay, just to elaborate on that a little bit, I think what you're seeing in the marketplace today is we are seeing an acceleration of portfolio opportunities, largely from private developers who are facing a liquidity crunch. The conundrum is, of course, that our cost of capital is high today as well, and the core co-investors that we typically invest with are little bit nervous about going heavily into core at low cap rates because of risk in terms of potential inflation of cap rates. So, it's going to be an interesting year to see how all that plays out.
There are going to be a lot of assets in play. We're certainly not going to be issuing equity to buy those assets. We would invest in core, as we said in many prior conference calls, only in a joint venture with private capital. Our ability to execute on those transactions will be largely dictated by whether private capital has an appetite to buy core assets in this environment. Right now I think it's a little unclear and that's why we haven't included any of that in our guidance.
Jay Habermann - Goldman Sachs
Can you just talk about the decision to enter Canada and obviously go with a joint venture with Rice and pursue mixed-use? Just talk about the expected returns there?
David J. Oakes
I think the decision to enter Canada was a recognition that while we see the greatest opportunity and the greatest need around the world for new development in some of the emerging markets that are meaningfully underserved for retail space, that there are also some opportunities closer to home. The reality is, Toronto is closer to our headquarters here in Cleveland and three-quarters of the rest of our portfolio. I think it was a natural extension in many ways.
The project overall is a mixed-use project. However, the net cost of roughly $150 million that we've outlined -- so the great majority of the overall budget -- relate to the retail section of about 700,000 square feet of lifestyle space. Demographics of this particular site are extremely attractive, and also the greater comfort that we feel, especially due to new supply constraints in the Toronto market. So, we feel like those sides of it line up very well in addition to having found a partner that we feel extremely good about.
I think we would continue to look for those sort of opportunities in all the markets in which we operate, but particularly in and around Toronto.
Jay Habermann - Goldman Sachs
Is this a one-off transaction or do you expect to pursue additional projects with Rice?
David J. Oakes
This is a one-off transaction, but we've had a very positive experience with the Rice Group so far and would be very open to working with them on additional projects. They have additional land bank in and around Toronto, and I think that's a conversation that we are very willing to have.
Jay Habermann - Goldman Sachs
Dan, any pullback from retailers in terms of the development business?
Daniel B. Hurwitz
We're not seeing a real pullback from retailers from a desire to open new stores. What we are seeing is retailers are using the current economic climate as an opportunity to renegotiate or at the very least, poor mouth a little bit the deals that we're working on with them. Retailers have gotten a little tougher. I think they are trying to grab back some of the pricing power that we've enjoyed over the last four or five years. Sometimes that works for them, sometimes it doesn't.
One of the beauties of our business right now is that there's still a lot of competition for space. So if you have a desirable location and you can generate competition and an auction for the space, you're still able to get your price. So even though they're getting tougher, the deals are getting a little tougher, but there are other parts of the development business that are getting a little less tough.
One of the things that we are seeing is a little less competition for land. One of the things that has been driving costs up and margins down a little bit in development is land costs. With some of the dislocation in the capital markets, we're starting to see that lighten up a little bit which should give us the opportunity to recapture some of the margin.
Our next question comes from the line of Christeen Kim - Deutsche Bank.
Christeen Kim - Deutsche Bank
Scott, you'd talked a little bit about how investors are feeling a little bit more nervous about getting involved in these larger portfolio acquisitions. Is there any price differentiation between the different asset classes; A quality product versus B?
Daniel B. Hurwitz
Yes. I mean, there's always been a clear differentiation among institutional investors between A and B quality assets. There's never been a broad institutional bid for B quality assets unless they had a value-added component to them where there was an opportunity to create A assets out of a B asset and have a great opportunity for value creation.
I think today, the appetite among institutional investors is clearly more towards the value add than core, to protect themselves from possible changes in pricing. I haven't seen it necessarily translate into transactions being priced at lower prices yet on A assets. I haven't seen that and I don't know if we will. But there certainly is a less voluminous demand from the capital side to invest in blind pools to go out and acquire core assets, if you will, vis-à-vis value-added opportunities.
Christeen Kim - Deutsche Bank
Does that imply that you haven't seen much movement in cap rates then?
Daniel B. Hurwitz
We haven't seen it yet. But what I am saying is there clearly is some concern that might happen, and that has an impact on the depth of demand on the institutional private equity front.
David J. Oakes
I think also in terms of the institutional demand for real estate at this point, we've clearly gone through a great period of uncertainty. The reason that we have such great interest in working with us and our platform in general is because we are able to go out there and take some of the risk out of these opportunities, and that's what a large portion of the core investor universe wants. I think in the uncertainty we've seen in the market in the past few months, it just causes this slowdown in activity as everyone somewhat waits to see where it settles out.
I think another aspect is just a calendar issue, in terms of this time of year you either get to a point where institutions have put out the capital they need to for the year, in which case they are focused on '08 planning, or they haven't and they're fighting for deals to close in these last couple of months. As it stands today, given the incredible record volume of transactions across all property types in the first half of 2007, I think many institutions are simply done with the allocation that they needed to invest for 2007. And are making their plans for the best ways to put out capital in 2008 and very actively having those conversations with us and others about what opportunities we are seeing to invest more capital.
Christeen Kim - Deutsche Bank
Just quickly on the '08 NOI growth guidance, given how much portfolio re-positioning you have done this year, why isn't that range a little bit higher?
Scott A. Wolstein
You are talking about the same-store NOI growth?
Christeen Kim - Deutsche Bank
Scott A. Wolstein
It really takes time for that to resonate. I mean, a lot of our assets are new developments either that we built or that we acquired. Leases don't roll every year. They roll every three to five years. I think you will be seeing that in the coming years. There's no question about it. There's also a little bit of -- to be quite candid with you -- our budgets come from our leasing people. They have to perform as they guide us to what will happen at the portfolio level. We certainly hope that they will do better than what they project. They are not likely to give us forecasts that are major stretch from what they think they can achieve. So oftentimes we do better than what we guide to at this point in time.
Daniel B. Hurwitz
I also think one of the things to consider along the leasing budgeting that Scott mentioned is that we were more conservative for 2008 primarily because we have an economy that people are concerned about. So, we think it would've been imprudent for us to be overly aggressive in 2008. So we did go through the portfolio and we did make some projections on some tenants that we may have had concerns with. If it proves out that the economy is better than people think and the world actually isn't coming to an end, we hopefully will be in a position to outperform.
Our next question comes from the line of Michael Mueller - JP Morgan.
Michael Mueller - JP Morgan
Dan, going back to the question about tenant demand in the development pipeline, when we look out at the '08, '09 pipeline, can you give us a sense as to what's under letter of intent? What's pre-leased? If the economy softens further and -- I don't want to say it's going into recession, but gets a little bit weaker -- what should we think of as being at risk? Or is the visibility high enough where you're not necessarily worrying about that?
Daniel B. Hurwitz
Well, the visibility is pretty high so we are not overly concerned about it. If we are buying land out there, Michael, which is the ultimate in exposure to a development project, we have a very, very good understanding of the majority of the tenants that are going to be on that site. We may not have every lease signed or even every letter of intent signed, but we clearly have visibility as to who the tenants are; and in some cases, the tenants sent us to those markets, so that makes it even easier from that perspective. We know who the supporting cast will be around those tenants.
When you talk about '09, for example, and in particular '10, which is we have a number of deals also that we're working for '10, it a little early to be pre-leasing those sites other than the actual anchors. So we have great visibility on our anchor interest and we have a lot of confidence on who the followers are after you secure those anchors. If we don't, to be honest with you, we won't close on the land. If we don't have a good feel for what we can do there based on the marketing that's currently going on within our development or leasing departments, we will pass on the site. We do that on a regular basis.
There are times when we had projects that tenants just won't commit to at this time or they feel that the market is too green, or in some cases, the housing projection seem unrealistic from a development perspective, particularly in the current climate. If that's the case, then we move on.
The good news is that the pipeline is very, very full and probably even exceeds our capacity if it all were to hit. So therefore, we continue to work the ones that are most profitable and where we have the most tenant interest. We've never really done a project, quite frankly, where it's been built that we haven't been able to lease it. I don't see any change in that.
Michael Mueller - JP Morgan
When you talk about the pipeline getting bigger in '09 and '10, should we think of that as popping or running at a higher level? You are hitting your stride and that seems to be a good number for the foreseeable future?
Daniel B. Hurwitz
Well, it's going to continue to accelerate. As Scott mentioned, '08 on deliveries is going to be lighter than '07, but '09 will be a considerable acceleration and '10 should be as well.
Michael Mueller - JP Morgan
You did some stuff with MDT; is their access to capital better these days?
David J. Oakes
You can see where the stock trades on the AFX and where the reported MTA of the company is. Clearly there is a relatively meaningful spread there that I think they have to evaluate if they are thinking about equity capital. Overall, our view is that their balance sheet continues to be in very strong shape. I think they clearly have access to capital, but I think in general that question is much better posed to Nick Ridgewell and the MDT team.
William H. Schafer
I'd like to lever in a little bit on what Dan was talking about with respect to our development pipeline. I think it's important to note that when we are talking about 2009 deliveries, that's typically a project that's been in the pipeline now since 2006. The gestation period for our projects at this point tends to be about three years. So by the time we're sitting here at the end of 2007, we have a very good idea of the anchor lineup for all of those properties and probably have letters of intent with the anchors in most of them.
That is different from the way it used to be where we used to have a year to year-and-a-half gestation period. The leasing was going on as we were going through the entitlement process. At this point in time, sometimes the leasing is actually preceding the entitlement process and gets done quicker. So we have a much higher visibility on leasing than we do on entitlements in many places.
The other thing relates to your other question about whether the increase in volume in 2009 is indicative of a trend. It very clearly is for no other reason than we broadened our universe of opportunities by adding international development deals to the mix. We have several deals in the pipeline in Brazil. As David mentioned, we have one in Canada and others that we'll look at beyond that. We have a few deals in Russia queued up as well. So the development pipeline going forward quite naturally is going to become larger just because it's a greater universe that we are dealing in.
Our next question comes from the line of Matt Ostrower - Morgan Stanley.
Matt Ostrower - Morgan Stanley
I may have missed it, but just looking at your guidance, it looks like the midpoint is in the 5% range, 4% to 5%. If I look at your same-store NOI growth we're talking about 2%, 2.5% growth there; lever that up to the 4%, 5% growth level. Transactional income is flat but then gains go down. Doesn't that get you below the mid-point of your guidance? What's the offset there? If you already answered this question, I apologize.
Scott A. Wolstein
Matt, we did answer it, I think. That is, that we are a net seller which is dilutive to earnings. So while we have a same-store NOI growth in the core assets that continues to be held in core, the amount of the core assets in the core will decrease under our guidance.
Matt Ostrower - Morgan Stanley
Right. I'm actually wondering, the guidance is a little high to me given that you will be a net seller and that your development gains are going down. Why would you still be in the mid single-digit range guidance-wise? Why wouldn't you be lower than that under that base case scenario?
William H. Schafer
Well, that's a very difficult question to answer on a conference call. There are so many things that go into the budget. You've just got to trust us that in all the moving parts, this is where it comes out.
David J. Oakes
Mid-point this year to mid-point next year of 5.5% growth, I think, based on the assumptions we've outlined is a level that we're very comfortable with.
Matt Ostrower - Morgan Stanley
You guys disclosed your capitalized G&A. You've talked about, I think, it is $8 million to-date of Construction Associates. Are there more administrative costs that you capitalize there, senior management and other stuff that's in there or is that really your full capitalized G&A?
Scott A. Wolstein
That is really the full capitalized G&A. There is not senior executive capitalization in there. It's basically the development and related leasing activities that are associated with development that are pretty much capitalized there.
Our next question comes from the line of Jeff Miller - JMG Capital.
Jeff Miller - JMG Capital
What's your liquidity at this point? You mentioned, I think, over $600 million?
Scott A. Wolstein
Yes. At the end of the quarter, we had over $600 million available on our lines. There's not a whole lot of re-financings that we have for the balance of the year. I think there's $100 million of notes that comes due in the first quarter of next year and we continue to evaluate options on a daily basis.
Jeff Miller - JMG Capital
You said of that just under $400 million in '08 coming due, maturing, most are mortgages, mortgage debt and half had extension options available?
Scott A. Wolstein
I think that was with regard to the joint ventures as to where we had half of the joint venture maturities of about $600 million were in December of '08. The remaining half of that, more than half of it was subject to extension options.
Daniel B. Hurwitz
I think it's important for you to know that all of the joint venture debt is project debt. There's no unsecured corporate debt. There are no corporate guarantees on any of the joint venture debt.
Your next question comes from Rich Moore - RBC Capital Markets.
Rich Moore - RBC Capital Markets
Dan, you sound a little bit hoarse. I assume that's from rooting for the Indians, or at least I hope that's the case.
I'm curious a little bit about the dynamics of the merchant building sales. When you guys complete these projects, everybody knows you are ready to sell. So in this tougher environment for pricing, does it pressure the selling process just to put more pressure on the pricing? If so, might you pull back on some of the actual sales and put the product inside the portfolio rather than sell it?
David J. Oakes
I think from our perspective, we're focused on doing the right thing with the asset. It's a strategy decision in terms of where we want our capital allocated. The merchant building program has worked well because brand new, high quality assets fit exactly what some institutions are looking for, for that relatively low growth, almost no CapEx profile of very visible cash flows over the coming years.
To the extent that pricing for some reason that we absolutely have not seen today would not make selling those assets acceptable. I think the reason we were in the development projects from the beginning is that we had an interest in owning them. So if the pricing for some unforeseen reason is not there, I think there's absolutely a willingness to own it and not just try to push our quality product out the door at prices that we don't feel comfortable with.
Rich Moore - RBC Capital Markets
Dave, you don't think there's any reason to think we'd see lower margins on sales in 2008 than we've seen previously?
David J. Oakes
I don't think so. The pro forma for the project get us to relatively comparable returns and cap rates are in a relatively comparable range. Generally, we would be in the same range. We sold some very high quality assets in this year and I think we would think about doing the same next year and so could expect margins to be comparable.
Rich Moore - RBC Capital Markets
I'm curious as well guys, how the stock buyback is working for you? You bought back $100 million worth of stock. You have another, I think, $400 million you could buy back. Is that still an attractive option, do you think? Or is that sort of meaningless at the current share prices? How are you thinking about that?
David J. Oakes
I absolutely don't think it's meaningless. The board authorized a $500 million repurchase. The balance sheet is in a strong position where we could comfortably execute on that based on all the opportunities we are seeing, that was the best opportunity to buy the stock at a big discount to net asset value. With the exception of our blackout periods, I think it is something we absolutely consider very, very regularly.
Rich Moore - RBC Capital Markets
So we can anticipate probably more buybacks in the coming months?
David J. Oakes
You can anticipate that it's something we're going to think about every day.
Your next question comes from Jim Sullivan - Green Street Advisors.
Jim Sullivan - Green Street Advisors
Can you give an update on Nampa, Idaho and your bigger development projects?
Daniel B. Hurwitz
J.C. Penney opened in Nampa and is doing extremely well. We're under construction with the lifestyle phase of the project, and we'll have store openings in '08 on that portion. We're in active negotiations with another department store for a second anchor on the site.
Jim Sullivan - Green Street Advisors
What kind of pre-leasing do you have on what you're constructing?
Daniel B. Hurwitz
We're about at 40% to 45%; not executed leases, but strong indications of interest and letters of intent.
Jim Sullivan - Green Street Advisors
Following up on a question raised earlier, can you comment on the pre-leasing for your overall development pipeline at this point?
Daniel B. Hurwitz
Well, like I mentioned earlier, our pre-leasing is focused on the anchors because once you have the anchors committed, the other tenants usually follow if you have the right merchandise mix. We have yet to have a problem with a project where we had anchors committed where we couldn't lease the additional GLA.
So that being said, if we are proceeding with the project, you can be very comfortable with the fact that our anchors are committed and that we're very comfortable that we can lease the rest of it up.
One of the things that I'd mentioned on past calls, one of the mistakes that we've made in our development pipeline overall is in some cases bowing to market pressure to pre-lease at a high level too early, where you leave money on the table because a project that's coming on the ground leases a lot better than a project off a piece of paper. So, we gauge that interest from tenants. We have a dialog with these tenants every day. We understand what their expectations are from a co-tenancy perspective and we go get it when it's the appropriate time to do so. But overall, you should keep in mind our portfolio is 96% leased, and overall, we've opened up our development projects, in many cases, mostly in the mid to high 90s, unless we've made a conscious effort not to because we felt that the space would be higher value after the project has some operating history.
Thank you for your participation in today's conference. This concludes your presentation. You may now disconnect. Good day.
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text:
Le Sun, 12 Jan 2014 16:46:56 -1000,
Joel Roth a écrit :> Dominique Michel wrote:
That's not the matter. When I installed it, systemd was installed, and
it doesn't work with a non automatic cgroups configuration. For what I
know, it will be the same problem with any installation using
systemd, that because the cgroup feature of systemd is designed to only
work with the automatic kernel cgroups stuff, or to reproduce it.
In the case of a rt setup as the one on the jack wiki, this just fail
because systemd is designed to pollute the only cpu group we are using,
which is a real time group, with applications that have nothing to do
in it, and this is so bad it can result into a complete system freeze.
LINUX® is a registered trademark of Linus Torvalds in the USA and other countries.
Linuxaudio.org logo copyright Thorsten Wilms © 2006.
Hosting provided by the Virginia Tech Department of Music and DISIS.


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Blog | Conversation | March 24, 2013 -
Offseason decisions for all 30 teams
Buster OlneyDETROIT -- As Gerry Fraley of The Dallas Morning News writes, free agency begins today for Rangers outfielder Josh Hamilton and others, given the changes in the system. Marco Scutaro will still have images of his World Series-winning single dancing i...
Blog | October 29, 2012 -
Early looks at big offseason decisions facing all 30 teams - MLB
Buster OlneyWith the World Series complete and the 2012 season in the rearview mirror, Buster Olney takes an early look at decisions facing all 30 teams this offseason.
Blog | Conversation | October 29, 2012


text: (10-28-2011 04:01 PM)ricky williams 34 Wrote: And I don't know which team Gonzo was thinking of, but there is a UConn alum who plays for the Pats! First person to post his name WITH their New England multicolor patch (not his--since he only has autos, not a single darn patch!!) wins a little yummy from me. And the Colts don't have nice colors...what's wrong with you guys?? LOL


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It's been said that those who do what they enjoy never work a day in their life. Dr. Stephen H. Atkins can relate to the sentiment. His passion for holistic medicine has led him to develop an expertise in the field and become a relied-upon resource for patients and the public alike. Through nutrition coaching and a focus on the body's optimal function, Dr. Atkins aims to support physiological strength so that patients can battle chronic symptoms or bench-press their minivans.
Rewind 25 years. There, Dr. Atkins is receiving his Ph.D. in Integrative Medicine. Travel a few years into the future and see him gain membership and association in a number of medical organizations, including the American College for the Advancement of Medicine and the Academy of International BioEnergetic Sciences. Today, Dr. Atkins remains energetically active in his field by treating patients with functional medicine, authoring books, and speaking with the public through television programs and desert visions.
OTOhealth Hearing Care protects and preserves auditory abilities by equipping patients with appropriate hearing technology and services. Each office carries an extensive line of hearing aids that sit behind the ear, on top of the ear, or inside the ear, or loop under the chin, around the back, and over the big toe before finally settling somewhere near the ear.
Its health-care professionals can lead comprehensive screenings for children and adults and help pair patients with a device to meet their unique needs. Additionally, technicians can expedite minor repairs to devices onsite and can also connect customers with assisted-listening devices that augment FM radios, alarm clocks, doorbells, TVs, and telephones.
Cactus Medspa is a collaboration between Cactus Salon and Associated Plastic Surgeons, and the result represents the best of both worlds. At the spa's six locations, specialists smooth faces with Botox and other injectables, focusing on beautifying their clients as the staff does at the parent salon. With an eye toward safety, a board-certified plastic surgeon oversees each treatment.


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Can a Trial Separation SAVE a Troubled Marriage a la Courtney Cox?
Don't stifle something important out of fear of hurting them either; It will only end up in wasted time for both you and your partner, and even more hurt in the end.
7. Make "Relationship Improvement" LISTS for each other...
About how you are currently feeling about your partner, and what your needs and desires are that are not being met by them. What could your partner do that would make you happier? What could your partner do to make the relationship work for you? What do you need in order to feel loved? Secure? Satisfied? Rather than just listing the negative things about your partner or your complaints, try to always state them in the form of positive requests so they are constructive and not hurtful.
8. Avoid Gossiping, "Venting" and Sh*t-Talking about your Partner to your Friends & Fam!
Really avoid the temptation to share everything (especially the negative things) that's going on with your friends, family members, mom, etc. Don't tell them all the details of your gripes about your partner or what they've done wrong, what they said in the therapy session, and so on. What happens when you do that is you end up tainting everyone's opinions about your partner – so inevitably, THEY begin disliking your partner if the majority of things you talk about with them are negative things, and you start generating a 'negative support group' around you. This is NOT what you want when you're trying to make a clear-headed decision and your goal is reconciliation. Because when things are going well, or you if you start talking about reconciling, these people that you've previously been sh*t-talking about your partner to will be the first to remind you of all those negative things, and will start nay-saying against your reconciliation, and swaying your decision. Not to mention that if you DO end up back together with your partner, now it's going to be awkward because the people you ragged about him to will now hate him! I know you may want to vent a lot during this process, but beware the dangers of dissing on your partner to friends and family for this reason.
9. Seek Therapy, Relationship Coaching, counseling or other tools.
During this time of separation, one of the major purposes is to learn new tools and develop new communication and relationship skills that will strengthen your relationship and allow you to work through your issues and come out the other side stronger. The two of you should definitely go to relationship coaching or Therapy together to learn these new skills during this time, or else nothing will change if you get back together.
10. Work on yourselves and your own inner conflicts and weaknesses,
so you can be a better partner for your partner this next time around, if there is a resolution. This is also a time to work on YOURSELF! It does take two to tango and you need to take responsibility for your part in the relationship's weaknesses as well, and not point all your fingers at your partner. Do whatever you can during this time to improve yourself, seek feedback from your partner about what you can do to meet your partner's needs and desires more, and work to become that better partner, whether you do end up rekindling, or for the next partner you have.


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FASB enhances guidance for measuring fair value
The Financial Accounting Standards Board (FASB) has issued Statement of Financial Accounting Standards No. 157, Fair Value Measurements, providing enhanced guidance for using fair value to measure assets and liabilities. More than 40 current accounting standards within generally accepted accounting principles (GAAP) require or permit entities to measure assets and liabilities at fair value.
Sep 17 2006
Going Into Effect September 15
Two pronouncements, FAS 155: Accounting for Certain Hybrid Financial Instruments and FAS 156: Accounting for Servicing of Financial Assets by the Financial Accounting Standards Board (FASB) become effective September 15, 2006.
Sep 13 2006
Option ARMs Bring Pain to Borrowers and Mortgage Industry
Some mortgage industry experts estimate that as much as one-half trillion dollars' worth of adjustable rate mortgage loans (ARMs) are scheduled to reset this year, the Washington Post reports. Many will be the nontraditional Option ARMs which allow borrowers to choose to make minimum payments, less than the actual interest on the mortgage, for up to 60 months. The portion of the interest not paid in the Option ARM is added to the principal of the mortgage, and the borrower's total debt just gets bigger each month, a negative amortization.
Sep 7 2006
Accounting Insight & Analysis for the Post-SOX Environment
On September 5, 2006, BNA, the largest independent publisher of nonpartisan news and information in Washington, D.C., will launch its new Accounting Policy & Practice Series, providing subscribers in the accounting, legal and financial professions with a new dimension of objective and insightful guidance into decision-making in the post-Sarbanes-Oxley (SOX) environment.Advertisement
Aug 30 2006
New Texas Margin Tax -- Business or Income Tax
Candidates for governor in Texas last week reacted to the Financial Accounting Standards Board's (FASB) conclusion that the new Texas margin tax was an income tax under Financial Accounting Standards (FAS) 109 "because the tax is based on some measure of income." FASB declined to set up a project to give advice on the matter.Kathy Walt, spokeswoman for Republican Governor Rick Perry, and former state Comptroller Democrat John Sharp, who headed the commission that recommended the tax, said that FASB was providing instructions for accounting purposes only, according to the Houston Chro
Aug 16 2006
Practice Management
Collections of Articles and Pronouncements Available
The Financial Accounting Standards Board (FASB) and the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) have announced the availability of their 2006 collections.Advertisement
Aug 15 2006
Participants Sought for 2006 Annual FASAC Survey
The Financial Accounting Standards Board (FASB) is soliciting constituent views on the FASB's current priorities, future financial reporting issues, international convergence and educational efforts.
Aug 10 2006
Roberts Re-Elected Chairman of XBRL-US Steering Committee
Grant Thornton LLP National Director of Assurance Innovation Dan Roberts has been re-elected as Chairman of the XBRL-US Steering Committee, which governs XBRL-US, a consortium of 70 organizations working to adopt a standard method of business and financial reporting in the U.S. and worldwide. The XBRL-US Steering Committee is made up of nine representatives of those members. Liv Watson of Edgar-Online was elected Vice-Chair of the XBRL-US Steering Committee."This coming year will be a very busy one for the Steering Committee and for XBRL-US in general.
Aug 8 2006
IASB and FASB Seek Nominations for Lease Accounting Working Group
On July 19, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) announced a joint project on leasing to their respective agendas.
Jul 24 2006
FASB Adds Joint Lease Accounting Project with IASB
Concerns that current lease accounting does not accurate reflect the resources and obligations of lease transactions, the Financial Accounting Standards Board (FASB) on Wednesday officially added a lease accounting project to their agenda.
Jul 20 2006
FASB Increases Relevance & Comparability of Income Tax in Financial Reporting
The Financial Accounting Standards Board (FASB) on Thursday issued an interpretation that increases the relevancy and comparability of financial reporting by clarifying the way companies account for uncertainty in income taxes. "T[his] interpretation reflects our concerns that widespread diversity in practice, including inconsistent measurement associated with uncertainty in accounting for income taxes, has resulted in less relevant, less comparable and less complete information for investors and other users of financial statements," Edward W.
Jul 13 2006
CPAs Debate FASB's Pension Draft
The American Institute of Certified Public Accounting (AICPA), state societies of Certified Public Accountants and accounting firms have expressed the views of many in the profession in comment letters published on the Financial Accounting Standards Board's (FASB) web site on the Exposure Draft of the Proposed Statement, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans.
Jul 9 2006
Business Objects to FASB's Plan for Measuring Future Pension Costs
Participants in a public roundtable held on Tuesday, June 27, at the Financial Accounting Standards Board (FASB) headquarters in Norwalk, Connecticut, engaged in heated debate on FASB's plan to use a projected benefit obligation (PBO) metric for measuring pension liabilities that will appear on the balance sheet according to a revised standard, rather than the accumulated benefit obligation (ABO) that most companies prefer.
Jul 4 2006
Community News
Auditors Spotlighted As Options Scandals Come To Light
Auditors are in the spotlight as the number of stock-option scandals expands. It seems the manipulation of option prices was more common than previously believed.
Jun 30 2006
FASB Seeks Clarity on Definition of A Public Entity
What is a public entity?
Jun 27 2006
IASB Chairman Calls For Accounting Standards Convergence by 2011
Sir David Tweedie, chairman of the International Accounting Standards Board (IASB), sees small differences in worldwide accounting standards within five years. CFO.com reports that Robert Herz, the Financial Accounting Standards Board (FASB) chairman, predicts that within three to five years, U.S.
Jun 19 2006
FASB Pension Draft Draws Fire
The Financial Accounting Standards Board (FASB) issued an exposure draft Employers' Disclosures about Pensions and Other Postretirement Benefits that required all written comments for the proposal be submitted by May 31, 2006. That is exactly what they got. CFO.com reports that the draft is stage one of two stages designed to overhaul retiree benefits accounting.The FASB received some 112 letters from senior management and other corporate executives voicing strong opposition to the implementation of these changes.
Jun 13 2006
FASB Launches Review of Accounting for Leases
The Financial Accounting Standards Board (FASB) has begun reviewing its guidance on one of the most complex areas of off-balance sheet reporting, accounting for leases, Chairman Robert Herz told Forbes. The Securities and Exchange Commission (SEC) had requested that FASB review off-balance sheet arrangements, special purpose entities and related issues in a staff report issued in June 2005.
Jun 11 2006
A Conversation About Equity Incentives with Jonathan Miller
Companies are not doing away with stock options. Jonathan Miller, President of Plan Management Corp. of Ardmore, Penn., recently sat down with AccountingWEB to discuss the present and future of options regulations and their impact on financial planning and reporting. Plan Management Corp. helps companies account for all forms of equity incentives, including stock options, restricted stock, stock appreciation rights (SARs) and stock purchase plans. "There was an initial impression that stock options were going to disappear, but we haven't noticed that," Miller told AccountingWEB.com.
Jun 8 2006
Historic AICPA/FASB Joint Proposal Aims to Improve Private Company Financial Reporting
The Financial Accounting Standards Board (FASB) joins the American Institute of Certified Public Accountants (AICPA) today in announcing a joint proposal exploring the development of accounting standards for privately held companies.
Jun 7 2006
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Verona Products
Verona Products are exquisitely designed and manufactured in Italy, the Verona name has been the benchmark for durable and beautiful European professional appliances since 1958. Verona ranges, ovens, cook-tops and ventilation is the preferred brand of appliances featured in designer kitchens throughout Europe. Now the Verona heritage of classically designed Italian appliances is available to North American consumers. With our extensive, time-proven line of appliances and ongoing commitment to quality and service, we intend to remain a viable alternative in the professional designer appliance marketplace.
Verona Products
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Verona Products41 Mercedes Way Suite 25
Edgewood, NY 11717
Warranty Information
Verona ServicePhone: 1-866-844-6566
Fax: 1.631.254.3426


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Chinese government adviser warns that 2C global warming target is unrealistic
How UK oil company Trafigura tried to cover up African pollution disaster
Front page
Fear of rising class sizes as schools face funding deficit
Nearly one in 10 schools report they will not be able to balance their books by the end of the year
Top stories p2
Inside Trafigura: Accusations, sour deals and friends in high places
A wealthy group of London oil traders with high-level connections in the Conservative party -
Trafigura hoped to make a fortune. Instead they caused a tragedy
Top stories p4
Trafigura reaches a global settlement
International oil trader put out an agreed statement with its legal opponents, revealing what had until then been a secret
Trafigura case: toxic slop left behind by caustic washing
Waste from process used to clean fuel can pose deadly threat to human health -
The victims: Ivorians tell their stories
'It smelled like rubber burning. I began to shiver, and then throw up'


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English Standard Version (ESV) | New International Version (NIV) |
30 We will not give our daughters to the peoples of the land or take their daughters for our sons. | 30 "We promise not to give our daughters in marriage to the peoples around us or take their daughters for our sons. |
The English Standard Version is published with the permission of Good News Publishers. (English Standard Version - The Holy Bible Online) | 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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Irish Championships Attract Record Numbers
Over 900 swimmers to compete; 3,762 Individual Swims
14th July 2014
Swim Ireland's Irish Age Group Championships and Summer Open kicks off this Wednesday at the National Aquatic Centre in Dublin. Over 900 swimmers from more than 100 clubs will compete in the biggest Championships Swim Ireland has ever run with 3,762 Individual and 151 Relay swims taking place over the five days. Teams from South Africa, Singapore, Oman, Dubai, Italy, England, Scotland and from all over Ireland will be descending on Dublin in the coming days to race.
The competition caters for swimmers from as young as 8 right up to an open age group with the oldest competitor being 43 this year.
Barry Murphy, Brendan Hyland, Nicholas Quinn and Dan Sweeney will all compete as they continue their preparations for the European Senior Championships in Berlin in August. The meet will also serve as an opportunity for Commonwealth Games swimmers to get some final race practice in before they travel to Glasgow this Saturday with swimming starting at the Games on the 23rd July.
Ireland's five strong squad of Paralympic Swimmers will all compete before they leave for a training camp in the Canary Islands prior to the European Championships in Eindhoven from the 4th – 10th August.
Swim Ireland's youth squad swimmers will race before travelling to Winnipeg, Canada for the Canadian Age Group Championships from the 23rd – 28th July while Irish record holders Bethany Carson, Melanie Houghton and Andrew Meegan will also be amongst the competitors who will swim over the five days hoping to win Gold.
- Daily Results and updates: www.swimireland.ie
- Live Timing: www.swimireland.ie/live_swim_times/
European Junior Open Water Championships, 18th July 2014, Zagreb, Croatia
Ethan O'Brien (Limerick SC/SI UL Sport PC)
Commonwealth Games, 23rd July – 4th August, Glasgow, Scotland
Sycerika McMahon (Leander ASC/Texas A&M), Michael Dawson (Ards ASC), Curtis Coulter (Ards ASC), Jordan Sloan (Bangor ASC), Gemma Kane (Bangor SC), Danielle Hill (Larne ASC), Rachel Bethel (Lisburn City ASC), David Thompson (Invictus ASC), Conor Munn (Ards ASC), Bethany Firth (Ards ASC).
Canadian Age Group Championships, 23rd – 28th July 2014, Winnipeg, Canada
Robert Powell (Athlone SC), Gerry Quinn (Longford SC), Katie Baguley (Glenalbyn SC), Mona McSharry (Marlins ASC), Antoinette Neamt (Tallaght SC/SI NAC PC), Bryan O'Sullivan (Galway SC), Niamh Coyne (Tallaght SC), Andrew Moore (Galway SC), Rebecca Reid (Ards ASC), Conor Ferguson (Larne ASC), Rory McEvoy (Ennis SC), Ciara Doran (Limerick SC).
Portuguese Open Championships, 24th – 27th July 2014, Portugal
Clodagh Flood (Tallaght SC/SI NAC PC)
Paralympic Swimming European Championships, 4th – 10th August, Eindhoven, Holland
Ellen Keane (NAC SC), Ailbhe Kelly (NAC SC), James Scully (Swim4Life), Jonathan McGrath (Limerick SC), Laurence McGivern (Invictus SC)
European LC Swimming & Open Water Championships, 13th- 24th August 2014, Berlin, Germany
Brendan Hyland (Tallaght SC/SI NAC PC), Dan Sweeney (Sundays Well SC/Loughborough) Nicholas Quinn (Castlebar SC/Uni of Edinburgh) Barry Murphy (Aer Lingus SC/SI NAC PC) Fiona Doyle (Portmarnock SC/University of Calgary), Sycerika McMahon (Leander ASC/Texas A&M),
Christopher Bryan – Open Water – (Ennis SC/SI UL Sport PC)
World Youth Olympic Games, 17th – 22nd August 2014, Nanjing, China
Dearbhail McNamara (Castlebar SC), Calum Bain (Dungannon ASC), Laoise Fleming (Kells SC/SI NAC PC)
Read More


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Amazon has this Vtech – Kidizoom Spin & Smile Digital Camera reduced to $39.99 (reg $59.99)
Amazon prices can change without notice. This is the price available at the time of this posting. Please verify current price before you checkout.
Remember you can join the Free Amazon Mom program and get a 3 month FREE Trial of 2 day Amazon Prime shipping which will carry you through the Holidays.


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NewsMay 03 2012
Purchase your ticket to Taste of Home Cooking Show at Herald home
The Chamberlain/Oacoma Sun, along with Cedar Shore Resort, Al's Oasis and Andy's Appliance will present the Spring Taste of Home Cooking Show Saturday, May 5, at Cedar Shore Resort.
"We're so excited to bring this national cooking show to the Chamberlain/Oacoma area for the first time" said Sun publisher Lucy Halverson. "Local interest has been very strong."
Call or visit the Lyman County Herald office to purchase your $10 general admission tickets.
Guests will be entertained by culinary specialist Guy Klinzing.
Guests will leave the fun and entertaining event with a goodie bag full of product samples, promotional items and coupons from national and local show sponsors.
The Taste of Home event will kick off at 11 A.M. when the doors open to the vendor shopping area, located in the hallway of Bridges Convention Center and the Resort's meeting rooms.
VIP ticket holders will have a meet and greet with Chef Guy from 11:00 A.M. to 11:30 A.M. in the Convention Center. The first four rows in front of the cooking show stage will be reserved for VIP ticket holders.
Doors to the Bridges Convention Center will open at 11:30 A.M. for General Admission ticket holders.
The vendor area will feature sponsor booths offering a variety of food samples, drawings for prizes and opportunities to purchase cooking products, jewelry, purses, candles, children's books, cleaning supplies, health and beauty products and much more.
If you enjoy food, fun, entertainment and the chance to win prizes, the Taste of Home Cooking School at Cedar Shore Resort is the place for you to be on Saturday, May 5.
- LC Sheriff's office involved in vehicle pursuit
- RACD changes date of annual dinner/theater
- Former coach inducted into HOF
- Trooper Koenig released from hospital
- Brule County Standoff Ends with Subject Surrendering to Law Enforcement
- Local HP officer in stable condition following shooting near Kimball
- Passerby reports house fire
- Vivian Post Office hours to be cut
- Celebrating Christmas
- Urban joins Stanley/Jones Clinic
- Correction


text: I'm always sad to see summer go, but fall is around the corner and that means dance and so much more returns to local stages. Once again, Cincinnati Ballet kicks off the season with its ever-evolving 'New Works' production featuring, well, new works from local, national and international choreographers. Cin City Burlesque, Performance and Time Arts Series and Contemporary Dance Theater also have new offerings.


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Fri, May 20, 11 at 8:49
I am looking for a vintage/antique white kitchen cupboard from around the 50's. It's white with red knobs. I think a company called Schreilich made it. I would love to purchase one at a reasonable price. |
Follow-Up Postings:
I have one of those cabinets you can find them at antique shops in my area -West Tennessee for about $100.00.Iam in my 50's and seen them all my life.I hope you find one.Sherry |
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