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"In five years' time I expect us to be the first choice of business school in London." Oh, Puh-Lease! Why would anyone pay over £12 000 for Metropolitan MBA anyway??
by B.R.
INTERNATIONAL students at London Metropolitan Business School (LMBS) have been left in limbo after the UK Border Agency withdrew its parent university's right to issue visas to anyone from outside the European Union. The move means that non-EU students currently enrolled on its degree programmes have 60 days to find another institution in Britain willing to take them on, or be forced to leave the country. Overseas students who have been accepted for classes in the next academic year will also have their offer of a place withdrawn.
Damian Green, the UK's immigration minister, said that many students at London Metropolitan University (LMU) had no right to be in the country, and that LMU had failed to implement basic checks, such as tracking course attendance or ensuring that students had a basic grasp of English. Liam Burns, president of the National Union of Students, said that even if the accusations were true, it was unfair to withdraw visas from students who had already started their courses. Instead, places should not have been offered to future non-EU students.
The university said that the decision affects around 2,600 students, although it was unable to say how many of those are enrolled in the business school. LMBS runs undergraduate and postgraduate business degrees, including full- and part-time MBAs. The cost of the full-time MBA, whose students matriculate this September, is £12,650 ($20,000). Contrary to Mr Green's claim, according to the school's website, "all applicants should have evidence of excellent English language competence" and that "this may require an English language test".
LMBS appointed a new dean, Stephen Perkins, in May. At the time of his appointment he likened the school to a sleeping giant, saying "in five years' time I expect us to be the first choice of business school in London." However, there were already signs that the school was being affected by a poor global economy. One of the dean's first moves was to introduce a "pre-experience" MBA for students with no work experience. The best business schools usually expect MBAs to have several years' business know-how; indeed it is something the main accreditation agencies insist on. However, Mr Perkins described this as "becoming increasingly unrealistic" in the current climate."
Losing foreign students is likely to have a devastating effect on the university's finances. Malcolm Gillies, LMU's vice chancellor, is quoted as saying that it will cost it £30m. Foreign students who have already stumped up the cash for the programme, as well as the expense of moving overseas, will know how he feels.
The Economist welcomes your views. Please stay on topic and be respectful of other readers. Review our comments policy.
"In five years' time I expect us to be the first choice of business school in London." Oh, Puh-Lease! Why would anyone pay over £12 000 for Metropolitan MBA anyway??
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Not being a 'landlubber' much anymore, Anna was about to say something flippant about running into the jungle alone but decided to skip it for reasons of sanity. Just be careful, Sarah. We don't know what's out there.
She then opens up her bag and pulls out her armor and shield and sets about to get them on.
Anna jumps visibly from Flick's outburst and starts coughing as the smoke from the fire goes directly past her. What is it with that boy? And once she gets her breathing back, Need help with that, Flick? I don't know a lick about it, but I'm willing to help out with whatever.

subset: commoncrawl


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Product Description
Available while supplies last.
Soft Canvas Floral I Framed Art
Soft and defined, yet sophisticated and abstract, this work art is framed in a 2.25" silver and black frame. The image is a perfect fit for almost any décor.
- 19.25" x 19.25" unframed size
- Frame Color: Silver
- Has "D" ring hooks preinstalled on back; hang properly and safely by securing two picture hooks of appropriate weight capacity to wall and hanging piece from them on the "D" rings
- Note: DO NOT use picture wire to hang as it cannot properly distribute and support item weight
- Wipe clean with a soft, lightly damp cloth; do not use chemicals
Materials: | Polystyrene frame with canvas | |
Weight: | 3 Pounds | |
Warranty | 1 year limited warranty on manufacturer defects | |
Application | Indoor | |
Framed Art Subject | Floral | |
Application | Residential |
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Style | Floral - 192 |
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After tasting defeat at the hands of Madera High in its first dual meet of the season, Turlock High bounced back with an impressive showing at this year's Vacaville Duals Tournament with an 8-1 finish.
There's an old adage in football: defense wins championships.
It was the most successful season a Hilmar High volleyball team has ever had. Unfortunately, the Yellowjackets' historic run came to an end on Saturday in the second round of the CIF Division-IV state championship tournament.
Hilmar High is headed to Sacramento.
CCC MVP – Lindsey Vander Weide, Pitman (third year in a row a Pitman athlete has earned this honor: 2012 - Sierah Miller, 2011- Ashley Solis)
With its undefeated record still intact after a 14-7 victory over rival Escalon High in last Friday's Division IV SJS quarterfinal playoff game, Hilmar High finds itself in its second semifinal matchup in the last three years as it prepares to host Center High tonight.
Hilmar High's volleyball team is not done, yet. After faltering to Sonora High in the section finale, the Yellowjackets traveled in the first round of the CIF State Division IV volleyball championships only to upset Section champs Justin Siena, in straight sets.
Ninety-seven high school water polo players got one last chance to find victory in the pool on Saturday, at a Central California Conference versus Modesto Metro Conference showdown, held at Turlock High's Steve Feaver Aquatic Center.
Pitman High's wrestling team officially began practice on the first week of November. After winning the Central California Conference three years ago, the Pride are striving for that same success and head coach Adam Vasconcellos feels that this may be their year.
It's back to the mat for Turlock High. With the official start of the 2013-14 prep wrestling season just one week away, the Bulldogs are in preparation mode as they get ready to finalize their roster at tonight's Blue & Gold wrestle-off.
For the first time in school history, Hilmar High's volleyball team will move on to the sectional finals after hosting an extremely talented Bear River High team that gave the Yellowjackets all they could handle, taking the match into five sets.
Turlock Christian High is on its way to its second consecutive Division VI Sac-Joaquin Section championship match after a convincing straight-game victory (25-7, 25-2, 25-12) over Victory Christian High Tuesday night at home.
Three local runners competed at the cross country Sections meet at Willow Hill Reservoir in Folsom on Saturday, with Pitman's Isaac Gonzalez bringing home the best time out of the three at 17:47, earning 45th place in Division-II.
Hilmar High's undefeated football season has been a product of complimentary play from its offense and defense, but on Friday, in the first round of the Division IV CIF Sac-Joaquin Section playoffs, it was the Yellowjacket defense that carried the team past Liberty Ranch High and onto the second round.
Hilmar High's volleyball squad left no doubt on anybody's mind as to their abilities on Thursday, as the Yellowjackets were able to capture a win in the second round of the CIF SJS Division-IV playoffs over last year's section champs, Ripon Christian.
The Turlock and Pitman baseball programs enter the 2015 season coming from different places - the Bulldogs from earning three league titles in four years and the Pride from a disappointing 8-7 season in 2014 - but both hoping to clinch a top spot in the Central California Conference. Both teams have the potential to reach their shared goal.
Pitman High entered the Sac-Joaquin Section Masters Championships in Stockton on Friday with the aim to match or best its performance from a season ago in which four of its wrestlers qualified for the State Championships. While the Pride fielded the exact same number of qualifiers as last season, Angel Velasquez's (132 pound) championship effort on the mat solidified the 2014-15 season as Pitman's most successful ever. The Pride also put in its best team performance to date with an 8th place finish.
Pitman and Turlock High's girls varsity soccer squads kicked off the 2015 regular season with a two-day tournament event at Pitman with 16 schools from around the area competing for a chance to call themselves the best of the tourney.
The 2014 season was arguably one of the most exciting years for high school sports in the area and it wasn't any different in varsity girls soccer.
The 2015 spring season just began on Wednesday for Hilmar High, but already the Yellowjackets have four matches under their belt and at least one more scheduled for today. It's the kind of starting schedule one would expect from a team trying to improve on a fourth place Trans Valley League finish last season.
Adolfo Maldonado of Pitman High has decided to attend California State University, Stanislaus on a soccer athletic scholarship.
The post season has always been a tough road for local wrestling teams, but with this year's shakeup of the post season format - specifically the inclusion of Folsom and Del Oro High in the new Sac-Joaquin Section Division I AA Championships - that road proved to be even more difficult for Turlock and Pitman High.
Hilmar, Delhi and Denair High are each sending one wrestler to this weekend's Sac-Joaquin Section Masters Championships at the Stockton Arena after their respective 12th, 13th and 14th place finishes in the team standings at the SJS Division V Championships last weekend.
For the eighth straight year the Turlock Christian High girls varsity basketball team is in the Sac-Joaquin Section Division-IV semifinal round of the postseason after trouncing Freedom Christian on Tuesday night, 66-26.
Page 1 of 1


text:
Spit-Fire T-MZ 245 Grain 50-caliber Boattail-base 15 Rounds
Item # WX2-282099
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You must be 18 years of age to purchase this item.
Shipping restrictions apply to this product under some jurisdictions. Known age, state and local shipping restrictions are applied at checkout and may result in changes to an order. PLEASE NOTE: We do not accept returns of Ammunition for safety reasons. NEVER use any Ammunition unless it is specifically designed for your firearm.
Shipping restrictions apply to this product under some jurisdictions. Known age, state and local shipping requirements are applied at checkout and may result in changes to an order.
This item cannot ship to Canada.
This item cannot ship internationally.
- Details & Specs
15 rds. Spit-Fire T-MZTM 50-caliber Boattail-base Bullets.
A streamlined semi-spitzer give, boattail base and tack-driving accuracy make the Barnes Spit-Fire MZ a great choice for difficult long shots. Deadly at high and low velocities. 6 razor-sharp copper petals create massive shock, deep penetration, and double-diameter expansion. Retains virtually 100% of its original weight.
- Diameter (in.): .451
- Bullet Wt. Grains: 245 Grain
- Bullet Length (in.): .964
- Ballistic Coefficient: .203
- Density: .172
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Spit-Fire T-MZ 285 Grain 50-caliber Boattail-base 15 Rounds
Buyer's Club $21.84 Non-Members $22.99


text:
UK & World News
Pupils Lose Legal Challenge Over GCSE Grades
Hundreds of pupils and schools who united in an unprecedented legal challenge over GCSE exam grades have lost their High Court bid.
Judges ruled that exam boards and the regulator Ofqual had not acted unlawfully by making changes to English grading levels last year.
The alliance, which also included scores of local councils and teaching unions, sought a judicial review after grade boundaries were hiked by 10 marks between January and June.
It accused AQA and Edexcel of an "illegitimate grade manipulation" and "statistical fix" involving Ofqual and called for the papers to be remarked.
But the claim was dismissed by Lord Justice Elias and Mrs Justice Sharp, sitting in London.
Lord Justice Elias said Ofqual had appreciated there were features that had operated unfairly and proposed numerous changes to avoid future problems.
But he added: "I am satisfied that it was indeed the structure of the qualification itself which is the source of such unfairness ... and not any unlawful action by either Ofqual or the AOs (exam boards)."
The alliance told a hearing in December that around 10,000 pupils who took the exam in June had missed out on a C grade because of the changes.
Clive Sheldon QC argued they had "worked well and hard" but had been unjustifiably "clobbered" because of an Ofqual instruction to avoid grade inflation.
Statistical predictions had indicated too many would achieve at least a C so it was decided to raise the boundaries, the court was told.
Mr Sheldon argued that the prediction was used as a "straitjacket", leading to "conspicuous unfairness and an abuse of power".
He called for the pupils who sat exams in June to be treated consistently with those who took them earlier in the year.


text:
Find commute times to your work, school, gym and more.
Melwood Center Complex
Contact this property
Floor Plans
Prices, specials, features and availability subject to change.
Property Details
Student Housing Minutes From Universities...One Block to Grocery Stores and Restaurants...Shuttle Service...
Melwood Center is conveniently located near Pittsburgh University and Carnegie Melon Institute with shuttle service avaiable to both. There is both indoor and outdoor parking available and we are convenient to shopping and restaurants.
Leasing Terms
Lease Terms: Security Deposit: 1 month's rent. All leases expire August 15, 2005. Utilities included and free cable.
Pet Policy
No Pets. Call for service animal policy.
Community Information
97 units
Building Type
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- 5 stars 1
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Melwood Center Complex Resident
Once the new managment took over they were never around i had many problems in my aptment water damage ect tha Read Moret was never taken care of there was everywhere in my bathroom
December 24, 2013
Larry C.
they have treated me kindly and have welcomed me back to their apartment complex.
November 29, 2013
Heather P.
For the first two years I lived at the Melwood Center Complex, it was amazing! A&R Building Co. was an excelle Read Morent rental company! They responded to everything in a timely manner! However, towards the middle of my third year leasing from A&R Building Co., it got sold to Melwood Avenue Associates which made the final 7 months of my lease miserable! We had no heat for over half of the winter and when I called to inquire as to what could, I was berated! This company is Lobos Management, beware!
November 26, 2013
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Friday: 8:00am-4:00pm
Saturday-Sunday: Closed
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A.R. Building Company


text:
Published: Thursday, July 20, 2006
Page 1 of 1
Parasols grow out of an archeological excavation site into a contemporary landmark, as architect Jurgen Mayer articulates and reinvents the Plaza de la Encarnacion in Sevilla, Spain through his competition winning design. More
Developing "a new proto-programmatical penthouse" architect Jurgen Mayer dissolves traditional spaces and programs into an inventive new strategy for this urban apartment in Denmark. More
Reset into a sinuous silhouette, the newly designed villa for a private client emerges as a classic example of architect Jurgen Mayer's prowess in weaving together spatial and formal configurations. More
Having won the international competition staged by the city of Karlsruhe, architect Jurgen Mayer engraves his signature style into the heart of the city campus, responding to the urban and social fabric through his design. More
Architect J. Mayer H. sets the humble glass mosaic tile into sleek silhouettes in an illusory yet radically designed range of seating systems for Bisazza S.p.a. More
Municipal administration, civil services, a public library, an art gallery, classrooms for music lessons and evening school, a wedding room, office space, sports facilities and a multipurpose hall, create the multifunctional Stadt.haus. More
Jurgen Mayer H
Architecture-Page is an online design resource, featuring architecture and product design from the world over. More
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text:
No tablet is really that great at multi-tasking and having multiple windows, Windows 8 maybe an exemption but it's still not "officially" out yet for tablets.
Pedro Franceschi has come up with possibly one of the best jailbreak tweaks ever made for the iPad, Quasar.
It's a tweak, available in Cydia, which lets you have multiple apps open at once, all in their own separate windows. And amazingly, from the video it actually looks like it works. (I haven't been able to try it out myself because it hasn't come up in Cydia for me yet). But if you do own an iPad and have it jailbroken this is a must have. It is on the pricey, $10, but it looks well worth it.
It's understandable why iOS and Android don't have this feature by default, because of issues like battery life, processing power, RAM usage and much more. But it's great to see the community coming up with ideas to extend the usage you can get from your devices, whether it be iOS or Android.


text:
Recycled sterling silver earrings with just the slightest hint of red.
Artisan handcrafted. Trendy and Fashionable.
Each handcrafted silver circle is lightly textured. Then the carefully selected rich red garnet is suspended from the bottom link.
Pretty and light. Easy to wear everyday.
• Recycled sterling silver components
• Gorgeous genuine red garnet gemstones
• 2 inches in length.
made in the usa.


text:
I have this in the "matte bronze" and I really like it. I don't notice much of a difference between this and Nars Laguna, and I believe Mac's is a little cheaper. I agree with the other reviews here that say it's difficult to get the color onto the brush, for some reason. You have to swirl it around several times to get good results. I use it everyday- it's natural enough for the office and gives me enough of light tan/glow so that I don't have to wear blush.
I love the color, but the color is hard to get onto the brush without digging it into the pan or swirling many times. Even swatching the color comes with little payoff. It's a good build-able bronzer, the color is nice (I have the Matte) and is good for subtle color and contour. It works especially nice in the fall when you don't want any shimmer but are still trying to keep a tanned face. I don't think I'll repurchase for the plain fact, I don't think I'll ever get through it.
ANOTHER UPDATE: Unfortunately, after using NYX's bronzer for over 3 months, I found that it was causing me clogged pores. I'll be returning to this bronzer as it never did that for me. I just wish it had the same color pay off as NYX.
UPDATE: I found a much better and cheaper dupe: NYX Matte Bronzer in Deep!
ORIGINAL REVIEW: I was an avid user of NARS Laguna but was tiring of how the shimmer was making me look in sunny lighting. I decided to give this a try in Matte because a salesperson told me that the shade was very similar to Laguna. I wish the color pay off was better, so that I don't need to mash my brush into this in the compact. Despite that effort, it does show up nicely on my NC35 skin and I agree, it's similar in coloring to Laguna, though not as orange, perhaps just a tad bit muddier. Otherwise, I'd say this is a good, but not stellar, matte bronzer that looks good on me in all lighting. I use it both as contouring and sweep it on my cheeks as blush and it works fine in both areas.
2 out of 2 people found this review helpful. Did you? Yes No
I am a NW35 in MAC pro longwear foundation. I bought the MAC Bronzer in "Matte" and it has been a great product. I have been looking for a matte bronzer because too many products have far too much shimmer for my liking. It doesn't give your face a "dirty / muddy " look but more of a natural bronze sweep across your cheekbones. Exactly what I was looking for! I recommend this product.
My favorite bronzing powder! I used to have the MAC duo sculpt & shape in (Lightsweep & Shadester) and it was my favorite product. Especially the Lightsweep used for highlighting. However, I dropped it one time and it broke into pieces and I haven't been able to find a replacement since, since the duo is just a limited time product. I'm still on the hunt for a highlighter as subtle and amazing as lightsweep, but after a few different bronzers I found MAC's bronzing powder and love it. I like how it's so matte and it makes the sculpting much more subtle. I have chubby cheeks so I'm obsessed with bronzers that can make my cheeks look slimmer and this definitely does the job. Unfortunately, it doesn't last me very long and I have to reapply it to keep it up in about 2-3 hours.
1 out of 1 people found this review helpful. Did you? Yes No
More reviews by BabyTheStarsShineBright
My face always seems to be 2 shades lighter than my body (without make-up!) so I thought I would try this bronzer in Matte Bronze to make my face and body look like they are part of one person again. I am NC 20-25 and the shade looked a bit dark in the pan but it's a completely different story on the face.
I used my Mac 187 (duo fiber stippling brush) and buffed it along my cheekbones then sweeped it lightly across my hairline and chin. It somehow makes my face look so much healthier and glowy without any shimmer! I am usually drawn to shimmery and sparking blushes/bronzers/highlighters but this matte bronzer convinced me that matte powders can also have the same effect but with a more natural finish. This gives me an subtle tan look and *maybe it's in my head* but I think it also slims the appearance of my babyfat cheeks!
2 out of 2 people found this review helpful. Did you? Yes No
LOVE THIS!!! I love to have a nice bronze face, so I love bronzers and I find that MAC has the best ones! I have used Golden which is very nice and has some sheer to it, but my newest favourite is Bronze which is matte, and it is dark, and I love it, I use it all over my face, either on clean skin or on top of makeup and its flawless. I have fair skin, so I was afraid this would be too dark, but it really isnt at all. I don't even buy blush anymore because I find this works best on my cheeks as well, all year long!
This bronzer is just okay for me. It is really nothing too special or something I find myself reaching for often. It doesn't seem to show up all that well on my skin (and I am very fair) and I feel like this bronzer can sometimes look a little blochy or streaky no matter how well I blend it. At $22, it is decently priced as far as bronzers go (which can get pretty expensive), but I would recommend spending the extra ten dollars and getting a Nars bronzer.
I really love this bronzer! I have it in the shade "Golden," and I think that shade works best with fair skin tones. It has a bit of shimmer but nothing too over the top in my opinion. I use it to contour my face, nose, all around my hair line and jaw line and I really like it because it's not very dark. Will definitely repurchase.


text:
Strait's Antiques
This beautiful crystal clear Rose Point 8 Inch Salad Plate was made by Cambridge Glass. This Plate is in very good condition with no chips, cracks or scratches. The yellow streak on the plate is from the flash. Be sure to search our other Rose Point available. We guarantee all items to be as described. Feel free to email with any questions...


text:
Quotes & Info
THOR > SEC Filings for THOR > Form 10-K on 18-Feb-2014 | All Recent SEC Filings |
Annual Report
This Annual Report on Form 10-K, including the documents incorporated by
reference in this Annual Report, includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E on Form 10-K of the Securities Exchange Act of 1934, as amended.
These statements can be identified by the words "expects," "projects," "hopes,"
"believes," "intends," "should," "estimate," "will," "would," "may,"
"anticipates," "plans," "could" and other similar words. Actual results, events
or performance could differ materially from these forward-looking statements
based on a variety of factors, many of which are beyond our control. Therefore,
readers are cautioned not to put undue reliance on these statements. Factors
that could cause actual results or conditions to differ from those anticipated
by these and other forward-looking statements include those more fully described
in the "Risk Factors" section of this Annual Report and in other documents we
file with the SEC. These forward- looking statements speak only as of the date
hereof. We undertake no obligation, except as required by law, to publicly
release the results of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events.
The following presentation of management's discussion and analysis of our financial condition and results of operations should be read together with our consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
Continuing Operations-Cardiovascular Business
Thoratec Corporation ("we," "our," "us", or the "Company") is the world leader in mechanical circulatory support with a product portfolio to treat the full range of clinical needs for advanced heart failure patients. We develop, manufacture and market proprietary medical devices used for mechanical circulatory support ("MCS") for the treatment of heart failure ("HF") patients. For chronic circulatory support for HF patients, our primary product lines are our ventricular assist devices ("VADs"): HeartMate II Left Ventricular Assist System ("HeartMate II"), Thoratec Paracorporeal Ventricular Assist Device ("PVAD"), and Thoratec Implantable Ventricular Assist Device ("IVAD"). We refer to HeartMate II as the "HeartMate product line" and PVAD and IVAD collectively as the "Thoratec product line." For acute circulatory support, our product lines are CentriMag Acute Circulatory System ("CentriMag") and for pediatric patients PediMag/PediVAS Acute Circulatory System ("PediMag/PediVAS"). HeartMate II, PVAD, IVAD, CentriMag and PediMag/PediVAS are approved by the U.S. Food and Drug Administration ("FDA"), and have received Conformit� Europ�ene ("CE") Mark approval in Europe.
MCS devices supplement the pumping function of the heart in patients with HF. In most cases, a cannula connects the left ventricle of the heart to a blood pump. Blood flows from the left ventricle to the pump chamber via the cannula, powered by an electric or air driven mechanism that drives the blood through another cannula into the aorta. From the aorta, the blood then circulates throughout the body. Mechanical or tissue valves enable unidirectional flow in some devices. Currently, the power source remains outside the body for all FDA-approved MCS devices. Some of our devices can also provide support for the right side of the heart.
On June 30, 2013, we acquired certain assets from Terumo related to the DuraHeart II Left Ventricular Assist product line (DuraHeart II) previously under development by Terumo. Under the terms of the acquisition, we made an up-front cash payment of $13.0 million, and we will be obligated to make potential future milestone payments, based on regulatory approvals and product sales, of up to $43.5 million.
HeartMate II
HeartMate II is an implantable, electrically powered, continuous flow, left ventricular assist device ("LVAD") consisting of a rotary blood pump designed to provide intermediate and long-term MCS. HeartMate II is designed to improve survival and quality of life for a broad range of advanced HF patients. Significantly smaller than HeartMate XVE and with only one moving part, HeartMate II is simpler and designed to operate more quietly than pulsatile devices.
HeartMate II received FDA approval in April 2008 for bridge-to-transplantation ("BTT") and received FDA approval for use in HF patients who are not eligible for heart transplantation ("Destination Therapy" or "DT") in January 2010. In November 2005, we completed the required conformity assessment procedure and design dossier reviews to be given authority from our Notified Body to affix the CE Mark to the HeartMate II for marketing in Europe. HeartMate II is the most widely used and standard LVAD.
HeartMate XVE
HeartMate XVE is an implantable, pulsatile, left ventricular assist device for intermediate and longer-term MCS. Patients with a HeartMate XVE do not require anticoagulation drugs, other than aspirin, because of the product's incorporation of proprietary textured surfaces and tissue valves.
HeartMate XVE received FDA approval for BTT in December 2001 and for DT in April 2003. In June 2003 we completed the required conformity assessment procedure and design dossier reviews to be given authority from our Notified Body to affix the CE Mark to the the HeartMate XVE for marketing in Europe. We discontinued the sale of HeartMate XVE at the end of fiscal 2011.
CentriMag is an extracorporeal full-flow acute surgical support platform incorporating a polycarbonate pump, based on magnetically levitated bearingless motor technology. CentriMag is cleared by the FDA for use up to six hours in patients requiring short-term extracorporeal circulatory support during cardiac surgery. Additionally, CentriMag is approved under an FDA humanitarian device exemption ("HDE") to be used as a right ventricular assist device for periods of support up to thirty days in patients in cardiogenic shock due to acute right ventricular failure. We have an ongoing study to evaluate the effectiveness of the CentriMag for periods of support up to thirty days. We completed the required conformity assessment procedure to affix the CE Mark to the CentriMag for marketing in Europe, and the device is marketed in Europe to provide support for up to thirty days for both cardiac and respiratory failure.
On August 3, 2011, we completed the acquisition of the medical business of Levitronix LLC ("Levitronix Medical"). Prior to the acquisition, we provided distribution and clinical support to Levitronix Medical in the U.S. for CentriMag under an agreement that would have expired at the end of 2011.
PediMag and PediVAS are identical, extracorporeal full-flow acute surgical support platforms incorporating a polycarbonate pump, based on magnetically levitated bearingless motor technology, designed to provide acute surgical support to pediatric patients. The brand names differ according to indication for use, duration of support, and regulatory approval. PediMag is cleared by the FDA for use, in conjunction with the CentriMag console and motor, for support periods of up to six hours. Outside the U.S., the device is branded as PediVAS. This device has been CE Marked for marketing in Europe to provide support for up to 30 days for both cardiac and respiratory failure.
PVAD is an external, pulsatile, VAD, FDA approved for BTT, including home discharge and post-cardiotomy myocardial recovery and provides left, right, and biventricular MCS. PVAD is a paracorporeal device that is less invasive than implantable VADs since only the cannula is implanted. The paracorporeal nature of PVAD provides several benefits including shorter implantation times (approximately two hours) and the ability to use the device in smaller patients.
A pneumatic power source drives PVAD. It is designed for short-to-intermediate duration for post-cardiotomy myocardial recovery following cardiac surgery and BTT. PVAD and IVAD, described below, offer left, right or biventricular support for use for BTT. This characteristic is significant because the vast majority of BTT patients treated with PVAD and IVAD require right as well as left-side ventricular assistance. PVAD and IVAD are also the only devices approved for both BTT and recovery following cardiac surgery. PVAD incorporates our proprietary biomaterial, Thoralon, which has excellent tissue and blood compatibility and is resistant to blood clots.
PVAD received FDA approval for BTT in December 1995 and for recovery (post-cardiotomy) in May 1998. In June 1998, we completed the required conformity assessment procedure and design dossier reviews to be given authority from our Notified Body to affix the CE Mark to the PVAD, allowing for its commercial sale in Europe.
IVAD is an implantable, pulsatile VAD, FDA-approved for BTT, including home discharge, and post-cardiotomy myocardial recovery and provides left, right or biventricular MCS. IVAD maintains the same blood flow path, valves and blood pumping mechanism as PVAD, but has an outer housing made of a titanium alloy that makes it suitable for implantation.
IVAD received FDA approval for BTT and recovery (post-cardiotomy) in August 2004. In June 2003, we completed the required conformity assessment procedure and design dossier reviews to be given authority from our Notified Body to affix the CE Mark to the IVAD, allowing for its commercial sale in Europe.
Discontinued Operations-International Technidyne Corporation
On November 4, 2010, we sold our wholly owned subsidiary, International Technidyne Corporation ("ITC"), to ITC Nexus Holding Company, Inc. ("Nexus") for $55 million in cash pursuant to a Stock Purchase Agreement, dated as of November 4, 2010, by and between the Company and Nexus. For the period ended December 31, 2011, we recorded net loss of $1.0 million for ITC primarily related to post-close severance payments. The ITC division has been reclassified to discontinued operations in the consolidated financial statements.
Critical Accounting Policies and Estimates
We have adopted various accounting policies to prepare the consolidated financial statements in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP"). The preparation of the consolidated financial statements, in conformity with U.S. GAAP, requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes.
Our estimates and assumptions, including those related to bad debts, inventories, goodwill and intangible assets, long-lived asset impairments, warranty provisions, contingent consideration, income taxes, and share-based compensation, are updated as appropriate, on an on-going basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. There can be no assurance that actual results will not differ from those estimates and assumptions. We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.
Revenue Recognition
We recognize revenue from product sales to customers when persuasive evidence of an arrangement exists, the product has been delivered or service has been performed, the selling price is fixed or determinable, collection is reasonably assured, and there are no further obligations to customers. Delivery of the product is considered to have occurred generally when shipped. Sales from products are not subject to rights of return and, historically, actual sales returns have not been significant. We sell products through our direct sales force and through distributors. Sales through distributors are recognized as revenue upon sale to the distributor as these sales are considered to be final and no right of return or price protection exists. We recognize sales of certain products to first-time customers when it has been determined that the customer has the ability to use the products.
Reserves on Accounts Receivable, Inventory and Warranty
We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our customers and distributors to pay amounts due. The allowance for doubtful accounts is management's best estimate of the amount of probable credit losses in existing accounts receivable. We determine the allowance based on specific identification and historical write-off experience. Past due balances are reviewed individually for collectability. Account balances are charged off against the allowance when we believe it is probable the receivable will not be recovered.
Estimated excess and obsolete inventory charges are recorded when inventory levels exceed projected sales volume. In determining the excess and obsolete charges, management makes judgments and estimates on matters such as forecasted sales volume. Actual sales volume may differ from forecasted sales volume and such differences may have a material effect on recorded inventory values. Based on management's estimate, adjustments to reduce the cost of inventory to its net realizable value, if required, are made for estimated excess or obsolete inventory.
The sales of our products generally include a limited one-year warranty on product quality. The estimated cost of product warranty claims is accrued at the time the sale is recognized, based on historical experience and other factors. While we believe that historical experience provides a reliable basis for estimating such warranty cost, unforeseen quality issues or component failure rates could result in future costs in excess of such estimates, or alternatively, improved quality and reliability in our products could result in actual expenses that are below those currently estimated.
Long-Lived Assets, Intangible Assets and Goodwill
We evaluate the carrying value of long-lived assets, including purchased intangible assets (subject to amortization), whenever events, changes in business circumstances or our planned use of long-lived assets indicate that their carrying amounts may not be fully recoverable or that their useful lives are no longer appropriate. If these facts and circumstances exist, we assess for recovery by comparing the carrying values of long-lived assets with their future undiscounted net cash flows. If the comparison indicates that impairment exists, long-lived assets are written down to their respective fair value based on discounted cash flows. Significant management judgment is required in the forecast of future operating results that are used in the preparation of expected undiscounted cash flows. Product sales from our PVAD and IVAD product lines, collectively known as the Thoratec product line, were $29.5 million and $28.1 million in fiscal 2010 and 2011, respectively, and significantly declined to $19.0 million in fiscal 2012 as a result of recent changes in the market in which these products compete. Accordingly, we assessed for recovery the associated purchased intangible assets with their future undiscounted net cash flows in the fourth quarter of 2012. The comparison resulted in the existence of impairment, and accordingly the purchased intangible assets were written down to the fair value totaling $12.6 million, resulting in an impairment charge of $50.2 million in 2012. No impairment indicators were present for purchased intangible assets, including intangibles associated with the PVAD and IVAD product lines, in 2013 and 2011.
We also evaluate the carrying value of intangible assets (not subject to amortization) related to in-process research and development (IPR&D) assets which are considered to be indefinite-lived until the completion or abandonment of the associated research and development projects. Accordingly, amortization of the IPR&D assets will not occur until the product reaches commercialization. During the period the assets are considered indefinite-lived, they will be tested for impairment on an annual basis, as well as between annual tests if we become aware of any events occurring or changes in circumstances that would indicate that the fair values of the IPR&D assets are less than their carrying amounts. If and when development is complete, which generally occurs when regulatory approval to market the product is obtained, the associated IPR&D assets would be deemed definite-lived and would then be amortized based on their estimated useful lives at that point in time. If the related project is terminated or abandoned, we may have an impairment related to the IPR&D assets, calculated as the excess of their carrying value over fair value.
We test goodwill for impairment on an annual basis in the fourth quarter of each fiscal year or more frequently if we believe indicators of impairment exist. The performance of the test involves a two-step process. The first step requires comparing the fair value of the reporting unit to its net book value, including goodwill. A potential impairment exists if the fair value of the reporting unit is lower than its net book value. The second step of the process is only performed if a potential impairment exists, and it involves comparing the aggregate fair value of the reporting unit's net assets other than goodwill to the fair value of the reporting unit as a whole. Goodwill is considered impaired, and an impairment charge is recorded, if the excess of the fair value of the reporting unit over the fair value of the net assets is less than the carrying value of goodwill.
Contingent Consideration
On August 3, 2011, we acquired 100% of Levitronix Medical for an upfront cash payment of $110.0 million, plus additional cash earn-out amounts (not to exceed $40.0 million in aggregate). The earn out ("contingent consideration") is calculated based on 36% of sales from Levitronix Medical in excess of sales of $24.0 million per year over the next four years commencing from the date of acquisition. The fair value of the contingent consideration is calculated using the income approach, utilizing various revenue assumptions and applying a probability to each outcome. By applying this method, the estimated undiscounted range of outcomes was from $9.7 million to $37.4 million. The fair value of the contingent consideration as of the acquisition date was estimated and recorded at $23.6 million. The fair value of the contingent consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recorded within operating expense within our consolidated statements of operations. Actual amounts paid may differ from the obligations recorded. In 2013 and 2012, we paid $4.2 million and $1.5 million, respectively, of the contingent consideration. As of December 28, 2013, the estimated fair value of the remaining contingent consideration was $22.3 million.
On June 30, 2013, we acquired certain assets and assumed certain liabilities from Terumo related to the DuraHeart II product line previously under development by Terumo. Under the terms of the acquisition, we made an upfront cash payment to Terumo of $13.0 million, and will be obligated to make potential future milestone payments, based on regulatory approvals and product sales, of up to $43.5 million. Terumo also maintains the right to repurchase the purchased assets in the event that Thoratec does not fulfill certain conditions at various dates starting in August 2016. The fair value of the contingent consideration takes into consideration the regulatory and commercial sales milestones using various estimates, including probabilities of success, discount rates and estimated amount of time until the conditions of the milestone payments are met. The key assumptions used to determine the fair value of the contingent consideration at the acquisition date in connection with the regulatory milestones include a 5.3% discount rate and probability adjusted milestone payment date ranges from July 2016 to January 2020. The key assumptions used to determine the fair value of contingent consideration at the acquisition date in connection with the commercial sales milestones include a 20.0% discount rate and probability-weighted expected milestone payment date ranges from July 2019 to January 2029, based on the aggregate number of commercial units sold. Actual amounts paid may differ from the obligations recorded. In 2013 and 2012, no payments were made to Terumo related to the contingent consideration. As of December 28, 2013, the estimated fair value of the remaining contingent consideration was $21.1 million.
Income Taxes
As part of the process of preparing the consolidated financial statements, we estimate income taxes in each jurisdiction in which we operate. The determination of our tax provision is subject to judgments and estimates due to the complexity of the tax laws that we are subject to in several tax jurisdictions. This process involves our estimate of our actual current tax exposure together with assessing temporary differences resulting from differing treatment of items, such as depreciation, amortization and inventory reserves for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheets.
We account for income taxes in accordance with the accounting standards for income taxes, which require that deferred tax assets and liabilities be recognized for the effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. These accounting standards also require that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized.
We account for uncertainty in income taxes recognized in the consolidated financial statements based on accounting standards that prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, we recognize the tax liability for uncertain income tax positions on the income tax return based on the two-step process prescribed in the standards. The first step is to determine whether it is more likely than not that each income tax position would be sustained upon audit. The second step is to estimate and measure the tax benefit as the amount that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority. Estimating these amounts requires us to determine the probability of various possible outcomes. We evaluate these uncertain tax positions on a quarterly basis. This evaluation is based on the consideration of several factors, including changes in facts or circumstances, changes in applicable tax law, settlement of issues under audit, and new exposures. If we later determine that the exposure is lower or that the liability is not sufficient to cover our revised expectations, we will adjust the liability and effect a related change in tax provision during the period in which we make such determination.
Valuation of Share-Based Awards
We account for share-based compensation costs in accordance with the accounting standards for share-based compensation, which requires that all share-based payments to employees be recognized in the statements of operations based on their fair values. The fair value of each option on the date of grant is estimated using the Black-Scholes option-pricing model using the single option approach. We recognize the expense ratably on a straight-line basis over the requisite service period. The share-based compensation expense recognized in the consolidated statements of operations is based on awards that ultimately are expected to vest; therefore, the amount of expense has been reduced for estimated forfeitures. The accounting standards require forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based on historical experience. In addition, expected volatility is based on a combination of historical volatility trends and market-based implied volatility. If actual results differ significantly from these estimates, share-based compensation expense and our results of operations could be materially impacted. In addition, if we employ different assumptions in the application of this accounting standard, the compensation expense that we record in the future periods may differ significantly from what we have recorded in the current period.
Fair Value of Financial Instruments
We measure certain financial assets and liabilities at fair value based on valuation techniques using the best information available, which may include quoted market prices, market comparables and discounted cash flow projections. Financial instruments are primarily comprised of money market funds, certificate of deposits, municipal and corporate bonds, commercial paper, variable demand notes, auction rate securities, derivative contracts, certain investments held as assets under the deferred compensation plan, and marketable equity securities.
Cash equivalents and investments: in general, we use quoted prices in active markets for identical assets to determine fair value. If quoted prices in active markets for identical assets are not available to determine fair value, then we use quoted prices for similar assets and liabilities or inputs that are observable either directly or indirectly. If quoted prices for identical or similar assets are not available, we use internally developed valuation models, whose inputs are unobservable data points that are not corroborated by market data.
Derivative Instruments: We hold non-speculative foreign currency forwards to hedge certain foreign currency exposures. We use internally developed valuation models that project future cash flows and discount the future amounts to present value using significant market-based observable inputs including interest rate curves, foreign exchange rates, and forward and spot prices for currencies.
Results of Operations
The following table summarizes our consolidated statements of income for the last three fiscal years with each line item shown as a percentage of total product sales.
Fiscal Years . . . |


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As with the school year, vacations, and marriages, reality can be sobering. Too many theater seasons end up like this: Ho-hum interpretations of classic texts we can recite in our sleep; shopworn revivals; lite contemporary fare; television stars feeding our lust for celebrity proximity; actors who barely sniff at the possibility of their roles once they've memorized their lines; and directors who march their casts through tired staging and cliched emotions -- all for the price of, if we're lucky, four movies on a Saturday night.
How did last year in South Florida rate on the fantasy-reality scale? The season hosted its share of shining moments: Angels in America, Jelly's Last Jam, and Shlemiel the First in the touring arena; John Kelly's Pass the Blutwurst, Bitte and Mark Holt's F_agmented Ideas on the alternative end; and knockout performances by the likes of Margot Moreland, Allen Swift, Blaine Dunham, Sally Levin, John Felix, Walter Zukovski, Bill Hindman, and Todd Allen Durkin. But in truth, I wanted to go back to see only one show again and again: New World Rep's Faith Healer, with Andrew Noble, David Kwiat, and Cynthia Caquelin. As a result, I was rarely moved to examine my assumptions about life at the end of an evening, nor did I soar out of many theaters on an adrenaline high. Dare I fantasize about the coming year?
The 1995-96 season includes a lineup of the usual suspects: work by Eugene O'Neill, Arthur Miller, and Tennessee Williams; entertaining but safe plays by the likes of Israel Horovitz, Herb Gardner, A.R. Gurney, Wendy Wasserstein, and Neil Simon; the unrestrained male rage of David Mamet; and nostalgia pieces such as The Pajama Game, Damn Yankees, and Mame. But two plays from this year's nineteenth annual Humana Festival of New American Plays at the Actors Theatre of Louisville will grace our stages, as will Edward Albee's Three Tall Women and Terrence McNally's Love! Valour! Compassion!, direct from runs in New York. Expect to see the work of Harold Pinter and Samuel Beckett, masters of the enigmatic and oblique; challenging plays by Jane Martin, Jon Robin Baitz, Rainer Werner Fassbinder, and Romulus Linney; and several world premieres.
Whereas last year I had to be dragged to most Broadway Series events, this time around I'm downright psyched about the tangy offerings. On October 5, the indomitable Chita Rivera launches a smoking year at the Broward Center for the Performing Arts with a three-week run of Harold Prince's Kiss of the Spider Woman, a version of Argentine author Manuel Puig's novel that, amazingly, translated well to the dramatic stage and to film before winning nineteen Tony awards as a musical. My not-to-be-missed list includes the innovatively designed thriller An Inspector Calls, a haunting revival of Carousel, the Pointer Sisters in Ain't Misbehavin', The Who's Tommy, and the comic portrayal of a small Texas town in Greater Tuna.
With five companies active in Coral Gables, New Theatre artistic director Rafael de Acha considers the place "the theater destination." With any luck, one of the highlights of the entire year will be New Theatre's January production of Richard Kalinoski's staggering Beast on the Moon, the hit of this year's Humana Fest, about an Armenian immigrant and his mail-order bride living in Milwaukee in the 1920s and 1930s. Actors' Playhouse unveils a renovated Miracle Theater on the Gables's Miracle Mile during its November season opener, Man of la Mancha. Akropolis Acting Company, homeless since losing its Salzedo Avenue storefront, decided to rent space at El Carrusel Theatre, Teatro Avante's quarters on Alcazar Avenue. Because of high costs, the adventurous company will mount just three plays this season, and only for short runs: Fassbinder's The Bitter Tears of Petra von Kant, about an obsessive fashion designer, opens October 5; Carl Sternheim's expressionistic social satire, Bloomers, opens in January; after that, The Corridor, by Jennylin Duany, plays in June. Teatro Avante features world premieres by Cuban playwright Joaquin Baquero and Cuban-American playwright Cesar Hernandez-Cant centsn, as well as Mario Ernesto Sanchez's Matecumbe: The Flight of a Pedro Pan. Florida Shakespeare Festival's fingers are crossed for opening Hamlet in their new Biltmore digs by the end of October, pending receipt of a permit of occupancy from Gables city officials.
The venerable Julie Harris and the impressive Eileen Brennan headline the cast of Coconut Grove Playhouse's November 14 season opener, Ladies in Retirement. In January, Hal Holbrook stars in Death of a Salesman, after which the production takes off for a national tour with a cast that includes up to seven roles cast locally. The Playhouse commemorates its 40th anniversary with a revival of Beckett's Waiting for Godot, which had its American premiere there on January 3, 1956. Edward Albee's stunning Three Tall Women closes out an infinitely more estimable season schedule than last year's listless one.


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Tesla Wars HD 3.1.0
Gather up all the strategic thinking and all the reaction speed you have to beat off the endless attacks of merciless enemies armed with chainsaws, fuel tanks and missiles. Shoot the sole Tesla Tower charges to crush the land, air and even underground strikes. Bash the black swarm with mines, toxic bombs, freezes, electromagnetic storms and other Special Weapons! Find out the perfect tactics to collect all the achievements and reward money. Challenge your friends to prove that you're the Number One!
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Event Name
- OR - Select an option belowOrange Cafe offers one of the coolest views of the Design District from its sidewalk seating. Inside, the restaurant is airy, and a winding staircase leads to ad-ditional tables on the second floor. Open for only breakfast and lunch Monday through Friday, it's a popular spot, but not usually packed. A small but satisfy-ing breakfast menu includes espresso and a variety of fresh-baked croissants served plain ($1.50) or filled with ham and cheese ($4.25), omelet and cheese ($4.25), chocolate, or apple ($2.00). Sandwiches are named after famous art-ists and feature fresh ingredients and quality cheeses. A Dali ($7.15 and $4.25 for a half) is a wonderful treat for vege-tarians and includes Parmesan cheese, avocado, tomato, spinach, basil, and olive oil. A Frida Kahlo ($7.75 and $4.65 for a half) is a twist on a BLT. It includes the b, l, and t, but also avocado and spicy mayonnaise. You can accompany your meal with a soup of the day ($4.75) and wine or beer.