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Argentina's Not The Only One Who'd Like A Little More Time
If the world's favorite uniquely recalcitrant debtor can delay deciding whether or not to default, maybe swaps betting on that default should get to stick around, too.
You Didn't Lose All That Money On Swaps Because You Are Bad At Investing And Risk-Management
You lost it because banks are monopolistic monsters. Just ask an affiliate of a corpse and a German state bank.
Banks Preferred Profitable CDS Business Over Less Profitable One
The thing about antitrust law is that it's so understandable. Not in the sense that a human can easily understand antitrust law, particularly, just that it's easy to understand where the people who violate it are coming from.1 This EU antitrust case against 13 banks for "colluding to prevent the lucrative global business of trading […]
Apparently Some People Pay Attention To Ratings Agencies
Would you have predicted this? This paper investigates the impact of credit rating changes on the sovereign spreads in the European Union and investigates the macro and financial factors that account for the time varying effects of a given credit rating change. We find that changes of ratings are informative, economically important and highly statistically […]
CDS Market Almost Ready For Another Greek Default
Last week ISDA, who are in charge of credit default swaps, circulated some proposed changes to CDS to account for all the Greek, Argentine, SNS, everything unpleasantness. This prompted me to try out my one journalistic technique – calling1 ISDA and asking them to send me a copy – but they declined, so we'll just […]
Argentina Looking Forward To Reading, Ignoring U.S. Court's Opinion
Yesterday the Second Circuit held arguments in the Argentina sovereign debt case. This case is … I mean, you kind of had to be following along, but quick summary: back in the day Argentina defaulted on some old bonds, and exchanged most of them at a discount into new bonds, which it's been making payments […]
CDS Contracts Not Ready For The Ways We Go Bankrupt Now
CDS, what is wrong with you? Here is how CDS should work: There are bonds. You buy CDS that is supposed to pay off if something goes wrong with the bonds. Something goes wrong with the bonds, insofar as they default. Like so: So you scoop up a Defaulted Bond, hand it to the CDS […]
Bernie Madoff Was A Toni Braxton Fan
Unfortunately the Ponzi schemer and TB had to part ways when the government seized his assets but now you have a chance to enjoy all the ballads that would get him through late nights at the office, plus his favorite numbers from Chicago, the best of Barbara Streisand, and every other item in Berns' prized […]
Argentina Beset By Pirates, Snakes
Let's check in on Argentina. It's a lovable mess! You can read some background here or here or here. In brief: Argentina had some Old Bonds, decided not to pay them (in 2005, more or less), got most of their holders to exchange into New Bonds at pennies on the dollar, started paying the New […]
Europe's Short Sale Ban May Be Slightly Less Terrible Than They Want You To Think
Europe is doing various terrible things about short selling today, and go talk about them in the comments, but this whole thing is really boring isn't it? It's like the "price gouging is grrreat" arguments that spring up like weeds after natural disasters;1 there's the thing that politicians do to Convey Emotion and then we […]
Bonds In ETFs Are Better Than Bonds That Aren't In ETFs, Sort Of
Coincidentally while I was noodling about bond indexes on Friday so was Goldman credit strategy research. Here I will show you a chart they made: So what this is is performance of ETF, index-y bonds versus performance of otherwise similar but non-ETF, non-indexy bonds. Goldman took the bonds that are in the iBoxx US liquid […]
The OCC report on bank derivative activities is rarely what you would call a laugh riot but I enjoyed that the 2Q2012 one released today gives the London Whale a belated sad trombone: Commercial banks and savings associations reported trading revenue of $2.0 billion in the second quarter of 2012, 69 percent lower than the […]
If a Whale Flaps His Flippers in London, It Causes a Tiny Increase in McDonald's CDS Spreads
Reuters had a neat article today about how JPMorgan's CIO embarrassment increased credit spreads for a bunch of investment grade companies. The 121 companies included in the CDX.IG.NA.9 index, in which JPMorgan apparently had a $100bn long position, saw their CDS spreads spike in the days after JPMorgan revealed its losses – and its intent […]
Did you think you could avoid it? So the deal is this. Spain has some banks, and those banks have some loans, and those loans have some problems. And so Spain wants to bail out its banks via a thing called the Frob, which is perhaps more confidence-inspiring in Spanish than it is in English? […]
A stylized picture of a credit default swap is that it's a way for a bank to offload to the market the credit risk of loans that it makes, while still funding those loans and making a profit on them. If you start from that stylized picture, you must at some point get comfortable with […]
Greek CDS Will Be Fixed Soon, In Case You Were Waiting On That
As Greece prepares to default on its new bonds, now seems as good a time as ever to fix the problems that occurred when it defaulted on its old bonds. Remember that? Basically there was this thing where if you had a Greek bond with a face amount of €100 and CDS on that Greek […]
You Say "Voldemort" Like That's A Bad Thing
Do you think that Bruno Iksil, when he woke up in Paris on Friday looking forward to trading from home in his black jeans, expected to become an international celebrity? The evidence suggests not. You may remember Iksil – possibly under other names like "Voldemort" or "the London Whale™" as the JPMorgan chief investment office trader who has sold protection on $100bn of notional of a CDX investment grade index to … hedge … JPMorgan's massive short position in credit … or … something?* Anyway a lot of people are mad at him because that's just too much protection to sell on that index and so they are complaining to Bloomberg and the Journal about how he is manipulating the market and also taking huge proprietary risks with JPMorgan capital that should obvs be regulated out of existence.
This is weird in a lot of ways but one of them is that you can distill a lot of the Volcker-Rule complaints into "my God, you're telling me that JPMorgan is exposed to $100bn of credit risk on investment-grade debt issued by a diverse mix of 121 U.S. companies!?" No! JPMorgan is exposed to something like $750bn of credit risk on debt issued by a diverse mix of companies. Some of it's non-US. Some of it's not even investment grade. And that's just in its loan book.** Is writing $100bn of protection on the CDX.IG.NA.9 a terrible risk to take with investor and depositor and government-backstop money? Well, define "terrible risk." It's certainly less risky than operating the rest of JPMorgan.***
Derivative Surprises Everyone By Accomplishing Purpose and Unwinding at Randomly Generated Market Value
Yay, Greek CDS worked. But, as we talked about a bit, it almost didn't: By happenstance, some of the new bonds Greece has issued in its restructuring have a market price close to the total value of the package creditors received — about 22 cents on the euro. Those bonds will help set the CDS […]
So Maybe Greek CDS Will Be More Than Fine?
Gaaaaaaaaaaaaaaaah Greece.
Okay so all systems appear to be go on the Greek debt exchange, which means its time to decide What This Means, and, I just. Really. Greece. Come on. All I want is to talk about 13D reporting requirements, and now I have to pay attention to Portugal? No. Just no.*
Still here is arguably a fun factoid:
On Wednesday, Swiss bank UBS AG started quoting a "gray market" in new Greek sovereign bonds … using as a guide details of the debt swap Greece has put on the table for private investors to accept until Thursday evening. The "bid" price for a batch of future Greek bonds due in 2042, or the highest price the dealer was willing to pay, was around 15 cents on the dollar; the "offer" price, or the most the dealer was willing to sell at, was 17 cents on the dollar, the first person said. … The prices quoted by UBS imply that losses private creditors to Greece will take are more like 79% of face value, not the original haircut of 70-75% many had expected.
Yeah but. If you believe this horrible CDS mechanics stuff that various people including me have been yammering about for weeks – here is the best explanation – that means that if for some reason you had the foresight to be long Greek bonds and hold CDS against them you'd end up with a package worth (1) 21 on the bonds and (2) 83 on the CDS (assuming that the 17 offer for the 2042 bonds represents a real price for the cheapest-to-deliver new bond in the Greek auction) for (3) 104 total which is (4) more than par, so you win this particular game, yay. Which you were at risk of losing – a week ago one of our fearless commenters spotted the longest new bonds at 25ish vs. 24ish for the old-bond-y package, for a total of 99 for the hedged holder – losing 1 point versus par.**
This Is The Last Greek CDS Post Ever*
There's that famous scene in Liar's Poker – are there non-famous scenes in Liar's Poker? – where the much maligned equity department sends a program trader to impress Michael Lewis's jackass fellow Salomon trainees with his brilliance. It does not work:
He lectured on his specialty. Then he opened the floor to questions. An M.B.A. from Chicago named Franky Simon moved in for the kill.
"When you trade equity options," asked my friend Franky, "do you hedge your gamma and theta or just your delta? And if you don't hedge your gamma and theta, why not?"
The equity options specialist nodded for about ten seconds. I'm not sure he even understood the words. … The options trader lamely tried to laugh himself out of his hole. "You know," he said, "I don't know the answer. That's probably why I don't have trouble trading. I'll find out and come back tomorrow. I'm not really up on options theory."
"That," said Franky, "is why you are in equities."
This is totes unfair to the actual equity vol traders I know, but I kind of felt like that guy after talking to a CDS lawyer yesterday about this craziness in Greece. It went something like this:
Me: As an equity derivatives guy, I expect derivatives to transform into derivatives on whatever their underlying transforms into. And I'm troubled by them not doing that.
Lawyer: You should not be troubled by the concept of cheapest to deliver.
Yeah fair! That's the thing about CDS. Dopes like me think of it as just a rough proxy for default risk but when things get real like with Greece it turns into a cheapest to deliver convexity play and then I slink away in embarrassment. But yeah, as a matter of rough justice, if you can go be opportunistic about finding the cheapest to deliver bond, Greece can go be crappy about leaving you with only expensive to deliver bonds. I guess.
So Maybe Greek CDS Won't Be Fine, Who Knows, I Give Up
ISDA decided today that there has been no credit event for purposes of Greek CDS. Obvs! And by "obvs!" I mean what I said the other day, which is that with 100% certainty there's been no credit event yet, but with 100% certainty there will be, so everyone should just chill out.
Except that it seems like that last part may be wrong. So go ahead and panic.
I used to make convertible bonds and some of my time was spent answering questions about what happened to things upon Events. The most popular was: what happens after a merger? If you have a convertible that converts into 10 shares of XYZ stock, but now XYZ is being acquired and each share of XYZ is being acquired for $30 in cash and 4.5 shares of PQR stock and a pony – what happens to the convertible? And the answer I would give usually started with "don't trouble your pretty little head about it." Like, it's fine: you have a convertible that converts into 10 Things, and before the merger each Thing was an XYZ share, and after each Thing is exactly what an XYZ share transformed into, so you convert into $300 and 45 PQR shares and 10 ponies. It just works because it has to work. Economic interests follow without interruption from changes in form; derivative securities poof into derivatives of things that the underlying poofs into. There is no arbitrage!
That assumption is central to doing any sort of derivative work, and it spoiled me a bit. Sometimes people would come up with more complicated scenarios involving dividends, multiple-step transactions, weird splits and spinoffs and sales, etc. etc. And I would generally start from the bias "it has to work, so I am sure the document written in the way that works." Where "works" means "the economics and intent of the trade are preserved after the change in form." But of course the document was written by humans, often specifically me, and those humans, often including me, are fallible. So there may well be documents from my former line of work that don't "work" in the sense that an issuer could do some structural tricks that would screw holders out of their economics – where the derivative doesn't follow the underlying everywhere it might go. These tricks are unlikely enough that I don't lose sleep over them. You can't predict everything.
I sort of assumed that Greek CDS also had to just work but here is Felix Salmon at Reuters saying no. Lisa Pollack at FT Alphaville said something similar a week ago but I could not fathom that she meant it so I read it to mean something else. But she means it, and Felix does too. Go read it but the basic gist of this theory is:
Greek CDS Would Be Fine If People Would Just Leave It Alone For A While
Somebody once said that "The Greek CDS situation is sort of puzzling, but it's possible, and popular, to overstate its puzzlingness." People just cannot resist doing that can they? CDS is sort of simple. Here is the lifespan of CDS: (1) You buy a CDS contract on undefaulted bonds in sunny times. . . . […]
One Last Greek CDS Post Before It All Goes Poof
One of the side benefits of Greece taking whatever somewhat irreversible steps it is now taking is that something will happen to CDS written on existing Greek debt and that will mean that we can stop talking about what will happen to CDS written on existing Greek debt and start talking about more interesting things like quasi-CDS written by the EFSF on shaky Eurozone government debt.
For now, though, we've got at least a few more weeks of surprisingly and unsurprisingly ill-informed fretting that triggering the $4bn of Greek CDS will Bring Down The Entire Global Financial System. That seems sort of silly because notionals aren't that big, mark-to-market collateral is mostly being posted, and at this point the marks are pretty close to what you'll get from Greece so it doesn't look like there's tons of unknown unrecognized losses lurking out there.
On the other hand, we're mostly through with the speculation that not triggering Greek CDS will Prove That CDS Is Worthless and thereby Bring Down The Entire Global Financial System, so that's nice. The reason that's mostly over is that it sure looks like Greek CDS will in fact trigger, as Athens has moved to adopt a collective action clause that will flip the Greek restructuring from "voluntary, heh heh heh" to "involuntary" and thus trigger the ISDA restructuring event definition. You can argue that the mechanics of the cash settlement auction will mildly screw CDS holders but I'm not so sure, and in any case this is pretty solidly in the category of derivatives nerdery rather than Bring Down The etc.
Jerks To Get Paid More Than Nice People
No, not your comp, though probably that too. The Times and the Journal check in today on the state of play in Greece and it's kind of how you might expect. From the Times: For months now, Greece has desperately been trying to persuade its private-sector creditors that it is in their interest to exchange […]
The SEC Wants Banks To Tell You Where They're Hiding Their Terrible European Exposure
You can't argue too much with the SEC's gentle suggestion that maybe banks should tell people, in a consistent format, what's up with their European debt exposure. It seems to be a thing that is on investors' minds, so why not have the SEC try to put their minds at ease: "Our staff has been […]
It's Not So Easy To Get Away From This Voluntary Greek Bond Swap
Bloomberg reported today that, back in July, David Einhorn and some other people decided that (1) betting against European sovereign debt was, and would remain, a good idea, but (2) doing it in CDS form was kind of dumb, so (3) they'd switch to doing it in physical form, by borrowing and shorting the debt. […]
New Report Features CDS And Shadow Banking, Is Not In The Sunday Times
Here is a wonderful sentence: A key insight from the enhanced BIS credit derivatives data is that non-rated multi-name credit risk sourced from multiple sectors has been transferred from derivatives dealers to IFGCs, SPVs and OFCs. Yeah! Wh … what? It's from the quarterly review of the Bank for International Settlements, which is a delightful […]
The New York Fed Is Not Buying Any Crazy CDS Conspiracy Theories
I have a hazy memory of those exciting days in 2008 and 2009 when the world was going to be remade, shiny and new, with all of the risk gone from the financial system. The way we were going to get rid of all the risk, as I recall, was with the Volcker Rule and […]


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Aalberts Industries strengthens market position and realises operating profit (EBITA) of EUR 107.4 million
Market position strengthened through extra marketing and sales efforts
Increase in capital expenditure of 33% to EUR 57.7 million
Added-value margin increased to 60.3%
Revenue and results in second quarter substantially better than the first
Revenue EUR 1,017 million with EBITA of EUR 107.4 million (-5%)
Net profit before amortisation EUR 73 million; per share EUR 0.67
Industrial Services realises lower revenue but maintains good profitability
Flow Control maintains revenue and operational margin in more difficult circumstances
Key figures
in EUR million
|Added-value in % of revenue
|Operating profit (EBITDA)
|EBITDA as a % of revenue
|Operating profit (EBITA)
|EBITA as a % of revenue
|Net profit before amortisation
|Average number of shares (x million)
|Earnings per share before amortisation (x EUR 1)
|Total equity as a % of the balance sheet total*
|Net debt
|Leverage ratio: Net debt / EBITDA
|Interest cover: EBITDA / Net interest expense
|Net debt / Total equity*
|Cash flow (net profit + depreciation + amortisation)
|Capital expenditure
|Net working capital
|Number of employees at end of period (x1)
|Effective tax rate in %
*comparative figures restated following the adoption of IAS 19R
Wim Pelsma, Chief Executive Officer: 'In the first six months, we invested a great deal to strengthen our market position through extra marketing and sales efforts and the introductions of additional products in market conditions that were often more difficult than in the first half of last year. Also, our focus remains targeted at the further improvement of (production) efficiency and has been broadened with new projects for cost reduction and increased added-value. Increasing our speed of innovation and the development of additional products in combination with a more efficient and stronger (sales) organisation directed at the end user, remain to be essential. Our capital expenditure increased by 33% to EUR 58 million. We realised a revenue of EUR 1,016.5 million with an increase of the added value margin to 60.3%. Operating profit (EBITA) came out at EUR 107.4 million with an EBITA margin of 10.6%. This includes the costs incurred for the purposes of additional product line introductions, extra marketing and sales efforts and start-up costs for the greenfield projects. The net profit achieved was EUR 73 million with earnings per share of EUR 0.67. Orders, revenue and profit increased monthly. The second quarter was thus substantially better than the first. With our improving order position, an increase in revenue in new products, the continuous focus on strengthening the organisation, marketing and sales approach, and realisation of the many efficiency projects to improve the operational margin and to reduce costs, we will further improve our market position and results.'
Financial results
Revenue Revenue amounted to EUR 1,016.5 million (1H2012: EUR 1,029.6 million), a decrease of 1%.
Added-value The added-value (revenue minus raw materials and work subcontracted) remained virtually the same: EUR 613.1 million (1H2012: EUR 613.3 million). The already high level of added-value margin could be improved to 60.3% of revenue (1H2012: 59.6%).
Operating profit Operating profit before depreciation and amortisation (EBITDA) decreased by 3% to EUR 147.1 million (1H2012: EUR 151.3 million), 14.5% of revenue (1H2012: 14.7%). Operating profit after depreciation and amortisation (EBITA) decreased by 5% to EUR 107.4 million (1H2012: EUR 113.1 million), 10.6% of revenue (1H2012: 11.0%).
Net interest expense Net interest expense amounted to EUR 8.0 million, 25% lower than in 1H2012 (EUR 10.7 million).
Balance sheet ratios Total equity in mid-2013 amounted to 46.1% of balance sheet total (1H2012: 43.0%). Net debt was EUR 668.3 million, compared to EUR 684.0 million in mid-2012. During the last 12 months the primary financial ratios improved as follows:
§ Leverage ratio: Net debt/EBITDA (12-months' rolling) from 2.34 to 2.27;
§ Interest cover ratio: EBITDA/net interest expense (12-months' rolling) from 12.8 to 16.5;
§ Gearing: Net debt/total equity from 0.8 to 0.7.
Net profit Net profit before amortisation decreased by 7% and amounted to EUR 73.0 million (1H2012: EUR 78.1 million) and earnings per share decreased by 7% to EUR 0.67 (1H2012: EUR 0.72), partly due to an increase in the number of outstanding shares and a higher tax rate of 27.0% (1H2012: 26.1%).
Capital expenditure and cash flow Capital expenditure amounted to EUR 57.7 million (1H2012: EUR 43.3 million). Net working capital amounted to EUR 498.5 million (1H2012: EUR 466.5 million) and the cash flow (net profit plus depreciation plus amortisation) amounted to EUR 112.7 million (1H2012: EUR 116.3 million).
Segment reporting
Industrial Services Revenue at Industrial Services decreased by 3% to EUR 302.3 million (1H2012: EUR 313.0 million). Organic revenue growth was 4.3% negative (at constant exchange rates). Operating profit (EBITA) amounted to EUR 37.7 million (1H2012: EUR 43.1 million), or 12.5% of revenue, compared to a strong first half year 2012 (13.8%). Capital expenditure increased by 58% to EUR 35.3 million, partly due to the purchase and new build of various factory buildings and a number of greenfield projects.
Flow Control Revenue amounted to EUR 714.2 million, in line with 1H2012 (EUR 716.6 million). Organic revenue growth amounted to 0.5% negative (at constant exchange rates). Operating profit (EBITA) amounted to EUR 69.7 million, virtually the same as last year including increasing marketing and sales expenses (1H2012: EUR 70.0 million), or 9.8% of revenue (1H2012: 9.8%). Capital expenditure increased by 7% to EUR 22.4 million.
Operational developments
Building Installations Europe
In the regions The Netherlands, France, Eastern Europe and Russia, the market situation weakened with respect to last year. In the United Kingdom and Scandinavia, the market conditions remained challenging, with the exception of Norway. There was a slow start in Germany, partly due to the long period of frost. The markets in Southern Europe remained sluggish. The order position grew gradually, supported particularly in recent months by many new and additional product lines. The end user is becoming more and more interested in a complete system offering for heating, cooling, (drinking) water, sprinklers and gas for various applications, all to be installed in as short a time as possible. Aalberts Industries takes advantage of this with a complete system offering, specific product lines that make it possible for the end user to install more quickly and straightforwardly, and an intensification of training, marketing and sales efforts. This led to a strengthening of the market position and solid growth in the specific product lines, based on new and improved connection systems. The production capacity of these product lines was increased at several locations. Much was invested in additional product introductions, trade shows, marketing, training of end users and own staff, setting up a customer relations management system, project tracking, and more internal cooperation. The projects to improve (production) efficiency in order to increase the operational margin and reduce costs have continued in various locations and new ones have been started. The objective is to increase the return on capital employed.
Building Installations North America
The market picture is different in each sub-segment. The residential market displayed a gradual recovery. This was particularly visible through the increased revenue in plastic connection systems where the production capacity was increased last year. Also successful was an improved product line of metal connection systems (with low lead content) introduced at the end of 2012, in combination with control valves that significantly increase the system installation speed for the installer. The production capacity for this improved product line has also been expanded in the meantime. Much has been invested in extra capacity for specification sales and marketing. In the retail sub-segment, driven by increasing residential building activity, good growth was realised. The commercial building segment remained challenging. Growth was realised through much marketing and sales efforts. In particular, the metal press connection system introduced last year, in combination with control valves, demonstrated decent growth in the first six months. This system also increases the speed of installation for the installer, and is sold under a strong shared product brand name. Additional product lines to strengthen this product group are currently in development. For the assembly of the metal connections, use is made of technology that is already applied in European manufacturing locations. There was good development in the irrigation market mainly through the expansion of the specification sales team. Through the collaboration in North America, good progress was made, which is stimulating further profit growth that will accelerate with an increasing market demand.
Climate Control
In this activity, where complete heating and cooling systems are supplied - from the energy source to the emission of heat and/or cooling - much attention is being paid to the completion and combining of the system portfolio. In various regional areas, sales platforms have been merged in order to allow a complete system to be offered to specifying bodies, architects' bureaus, project developers and installers, targeted at the measurement and reduction of energy costs and at increasing comfort in building installations. These target groups are approached, instructed and trained at an early stage. The transfer of system knowledge to these users demands much attention in combination with setting up customer relations management systems and the tracking of renovation and new-build projects in the different countries. The system portfolio is undergoing strong development with a newly developed product line of thermostatic valves, control systems for climate regulation, smart measurement systems for the straightforward monitoring and recording of meter readings, and larger sizes for ultrasonic heat measurements. Good progress was achieved; particularly in Eastern Europe and Russia there was good revenue development. In the meantime, the first orders have been booked in China and other markets are being tapped such as the Middle East. In North America too there is much interest in Climate Control systems; the first products have already been put on to the market.
Flow Control Industrial | Oil & Gas
The picture here was varied. After an initially good start in Russia, the order stream slowed down during the second quarter, particularly through reductions in the available government budgets for gas and district energy projects. Less revenue was achieved in these sub-segments through the postponement of various projects. Some recovery is now observable. The extensive portfolio with larger sizes will be introduced in its entirety in the second half of the year and this will generate more revenue. The district energy activities in Western Europe are displaying a stable picture. At BSM Valves, consolidated as of January 2013, there was a slow start, with an increase in the number of orders during recent months. Various new customers were gained and the first joint orders with sister companies were realised. The gas activity for high-pressure valves, applied in many industries (including the automotive industry) experienced solid development with growth in both revenue and results. The industrial market in North America experienced a slow start in the early months of the year. Thereafter the number of enquiries displayed an upward trend. Particularly the demand for larger-sized steel and stainless steel control valves, for which the production capacity was expanded last year, demonstrated substantial growth. The activities of the beer and soft drinks market did well, both in revenue and in result.
Industrial Services
There was a slow start and a gradual increase in activity, partly through the investments made last year and also the strong increase in the numbers of new projects and customers. Much was invested in sales and engineering capacity, new technologies, products and processes, and the purchase of a number of existing factory buildings and the (further) startup of three greenfield projects in Poland, India and China. Also, the existing locations in Poland and Slovakia were expanded due to the increase in revenue in this important growth market. The recently made acquisition of GtO Slovakia will further strengthen the market position. In various locations, efficiency projects were carried out to reduce costs and to concentrate activities to improve the results. Additional efficiency projects have been started and the management organisation has been strengthened to realise more rapid and greater yield from investments. The activities in the semiconductor industry grew gradually but suffered a slow start, certainly in comparison with the strong first half of last year. Through an increase in sales efforts, new customers were recruited in the field of high purity gas systems. The activities for the LED manufacturing market were at a lower level than for the same period last year. The automotive industry in Germany remained at the same strong level as last year, in contrast to France where the market conditions stayed difficult. This was compensated for by a strong growth in the number of new development projects, with globally active key accounts that collaborate closely with various Industrial Services engineering and manufacturing locations in France, Germany, Poland, Slovakia, China and India. The machine build activities in Germany developed well, particularly through the investments made in previous years. The turbine industry experienced a slow-down in the number of projects in the early months, but revenue gradually recovered. Flamm, acquired in January 2013, made a good start. The aerospace industry did well, particularly in France. Activities in the oil and gas market had a slow start; this situation improved gradually during the first six months.
Change in Management Board responsibilities
Following the Annual Meeting, to be held on 22 April 2014, the founder of Aalberts Industries, Mr J. (Jan) Aalberts, will stand down from the Management Board. Mr Aalberts will remain linked to the company as shareholder.
During this meeting the Supervisory Board intends to appoint Mr O.N. (Oliver) Jäger as executive director, responsible for Industrial Services activities. Oliver Jäger was born in 1967, is of German nationality and has been employed with Aalberts Industries since early 2009 as group director for Material Technology.
After this change, the Management Board of Aalberts Industries N.V. will consist of:
- Wim Pelsma, Chief Executive Officer
- John Eijgendaal, Chief Financial Officer
- Oliver Jäger, Executive Director
Revenue and operating profit (EBITA) will increase and earnings per share for the whole of 2013 will stay in line with 2012 - barring unforeseen circumstances. Capital expenditure will reach the same high level as last year.
|For additional information (available from 8 am CET)
|Wim Pelsma / Jan Aalberts / John Eijgendaal
|+ 31 (0)343 56 50 80
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Aalberts Industries N.V. via Thomson Reuters ONE

subset: commoncrawl


text:
How do I clean range hood baffles?
When putting baffles in the dishwasher, should I place them standing up, or lay them flat? I stood them on end in the dishwasher so that the water could run out the bottom holes (the holes where they would drain into the grease caps), but there was still grease left inside the baffles at the end of the wash cycle, even after pre-soaking them with Simple Green. I had to run them through a second wash set at "heavy-duty." I am finding that baffles are not as "easy care" as I thought they'd be. Am I doing something wrong?
I have a 36" range hood with 4 baffle filters. Every 2-3 weeks, I'll put it in the dishwasher to clean. It's been about a year now, and as time goes on, the baffles come out of the dishwasher not as clean as they did after washing when I first got the hood.
It's all bc of the grease, smoke and heat from cooking and after a while, that stuff really gets harder and harder to remove completely.
The first time I washed the filters, they looked brand new. Now, there's still a residue. To get them sparking clean again, I scrub them by hand with a hardback sponge and then throw them in the dishwasher. I'm unable to clean the inside part of the baffle and just have to rely on the dishwasher or perhaps an overnight soak in boiling hot water and soap.
In any event, they come out clean enough and I'm still satisfied with them over the mesh filters. Those, after about a year or so, are so sticky and grease-laden, even after washing, that you'd have to continually replace them.
My suspicion is that we should wash the baffles more often than when they look dirty. The grease film on them will slowly change into a hard film. At that point, it may take more than one pass in the dishwasher to let the enzymes in modern detergents play pacman.
I still wash mine by hand - about every month or two- but the dishwasher really is the easier option. It probably does a better job of getting inside all the nooks and crannies, too. Also, the edges of the baffles are pretty sharp. You have to be careful handling them.
It's not always about the amount of the grease on them, it's about the age of the grease on them. Old grease hardens into a shellac hard coating, even with "light" use. You've got to clean it off before it does that. "Every couple of months" isn't nearly enough. Yes, even if you're a light user. If you don't clean the grease before it hardens, a small almost invisible layer starts to not be removed and will build up over time. If you develop a schedule based on time rather than use, you'll end up much happier. The 1st and 15th, put them in the DW. That makes it easy to remember.


text:
Category: Tattoos
Heavy Lies The CrownMarch 24 2015
Today's skull of the day is this incredible chest piece by Hokowhitu Sciascia! Sciascia is based at Auckland, New Zealand's esteemed tattoo studio, Ship Shape Tattoo and specializes in black and grey realism. Black and grey is usually done in a… [ read more ]
Woodsman At HeartMarch 24 2015
Today's tattoo of the day is this amazing piece by Ron Henry Wells. Wells, who is also known as "The Laughing Hyena," is an incredible tattoo artist best known for his fun spin on a neo-traditional aesthetic. Today's piece is this… [ read more ]
Tattoos Are For People, Not AnimalsMarch 23 2015
Whether you're vegan or a die-hard meat lover, when it comes to food, what you eat is your choice. The same is to be said about whether you choose to get tattooed or not. New York has already made it… [ read more ]
Gotta Ink 'Em AllMarch 23 2015
Everyone has their inner geek, and if you were a kid in the '90s you probably geeked out a lot when it came to Pokémon. These pocket sized monsters were everything to '90s kids, and they knew it as the… [ read more ]
Perfect SymmetryMarch 23 2015
Today's tattoo of the day is this incredible geometric piece by Alex Arnautov. Arnautov is based in Kiev, Ukraine, and has been tattooing with his signature style since 2008. Best known for his blackwork, Arnautov's pieces tend to feature gorgeous… [ read more ]
Tattooed Wild Child or Inked Professional? Chelsea Is Both.March 23 2015
Chelsea Cushenbery, today's Inked Girl of the Day, lives her life floating between two different worlds. While she is a self-described fun loving tattooed wild child when it comes time to collect a paycheck Chelsea finds herself working as a… [ read more ]
Skulls In SpaceMarch 23 2015
Today's skull of the day is this remarkable piece by Andrés Acosta. Acosta is best known for his rose morphs, but every now and then he'll showcase some of his galaxy-inspired work and it never fails to blow our minds…. [ read more ]


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The Infamous: Atomic's new, affordable, style-driven park ski with a moderate flex and exceptional resilience.
Inspired by Jossi Wells, Atomic has built the Infamous to match the vision of the X Games star. When it comes to getting creative in the Park, the Infamous is just the tool. Thanks to its durable Step Down Sidewall 2.0 and bomber wood core construction, the ski remains smooth at all speeds and stands up to a thrashing. The new Park Rocker in the tip and tail ensures stable take-offs and landings, and thanks to the Stomp Sidecut - shorter radius in the binding area and longer radius at the tip and tail - challenging landings can be stomped with confidence.


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LUBBOCK, Texas (AP) - Just three months after Kenbriel Hearn emerged from a coma, the 18-year-old football star scored the most memorable touchdown of his life.
ENGLEWOOD, Colo. (AP) - John Fox is returning to work Monday, less than a month after undergoing open-heart surgery, and he plans to coach the Denver Broncos in their game against the Tennessee Titans on Dec. 8.
ARLINGTON, Texas (AP) - The Dallas Cowboys and Oakland Raiders need the same short memory during a short week, for different reasons.
DALLAS (AP) - Dirk Nowitzki scored 22 points to offset a rough night for playmaking partner Monta Ellis, and the Dallas Mavericks held off a late charge from Golden State for a 103-99 victory over the Warriors on Wednesday night.
CHICAGO (AP) - Jozy Altidore and Abby Wambach were honored as the men's and women's athletes of the year by U.S. soccer.
SAO PAULO (AP) - Part of the stadium that will host the 2014 World Cup opener collapsed Wednesday, killing two workers and aggravating already urgent concerns Brazil won't be ready for soccer's signature tournament.
PUERTO VALLARTA, Mexico (AP) - Tara VanDerveer became nostalgic after reaching another major coaching milestone.
CLEVELAND (AP) - Unlike the last time he was a free agent, LeBron James won't discuss his future.
SAN JOSE (AP) - Joe Thornton scored his first shootout goal since 2007 in the eighth round and the San Jose Sharks beat the Los Angeles Kings 3-2 Wednesday night to extend the home-team dominance in this California rivalry.
SANTA CLARA (AP) - Just as the passing game has started to click for the San Francisco 49ers at last, here comes Michael Crabtree.
ALAMEDA (AP) - Oakland Raiders running back Darren McFadden went through a light practice Wednesday and will play against Dallas on Thanksgiving Day.
SANTA CLARA (AP) - San Francisco safety Donte Whitner is challenging Drew Brees to come beat the 49ers fair and square - and Whitner hopes that happens in a playoff date in January.
MILWAUKEE (AP) - Ryan Braun ended his silence Wednesday, speaking to the media for the first time since accepting a season-ending, 65-game suspension for violating Major League Baseball's anti-drug agreement.
Manteca High's football team made amends for the failures of its predecessors the past two weeks.
OAKLAND (AP) - Derrick Rose hit a step-back jumper with 7 seconds remaining in overtime, and the Chicago Bulls ended Golden State's franchise-record 19-game home winning streak with a thrilling 113-111 victory over the Warriors on Tuesday night.
SCOTTSDALE, Ariz. (AP) - Tiger Woods was all smiles Tuesday - and with a full set of teeth.
PHOENIX (AP) - Darrelle Revis long reigned supreme among NFL cornerbacks.
RICHMOND, Va. (AP) - Freshman Terry Larrier scored 15 points and No. 14 VCU pulled away with a 16-2 run early in the second half to beat George Washington 72-48 on Tuesday night for its 12th consecutive victory.
PHOENIX (AP) - Seahawks running back Marshawn Lynch knew he had to talk. It didn't mean he had to say anything.
SCOTTSDALE, Ariz. (AP) - A defiant and at times angry Robert Allenby stood by his story Tuesday that he was robbed and beaten in Honolulu, basing the account on what he remembered and what he was told by a homeless woman who came to his aid.
SAN FRANCISCO (AP) - The San Francisco Giants and shortstop Brandon Crawford have avoided arbitration by agreeing to a one-year contract for $3,175,000.
MELBOURNE, Australia (AP) - Rafael Nadal has joined Roger Federer on the sidelines at the Australian Open, taking their combined 31 Grand Slam singles titles with them.
PHOENIX (AP) - Tom Brady began winning Super Bowls when Russell Wilson was still a teenager, tuning in to see the big game on TV.
ENGLEWOOD, Colo. (AP) - Julius Thomas is about to cash in, one way or another.
PHOENIX (AP) - Patriots owner Robert Kraft's pre-emptive strike the previous night took the issue of air pressure in footballs on Super Bowl media day and, well, deflated it.
PHOENIX (AP) - Rob Gronkowski's ankle is fine. So are his forearm and knee. He's way past those injuries that ruined his last three postseasons.


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Sleep Inn & Suites Round Rock - Austin North
1980 South IH-35
Round Rock, TX 78681
Phone: (512) 246-6000
Fax: (512) 246-6022
»Round Rock Public Library
Located in the downtown area of Round Rock, the Round Rock Public Library is a library with a rich history, as it was used as an outpost in the 1830s. Today, the library has a well-stocked collection of literature, along with internet access. Bring your kids along and let them play in the kid's section, or go through children's books, enjoy games, or listen to audio books. Their catalog is quite extensive, and you are likely to find every book you're looking for. Visit website for further details.
»Old Settlers Park
A beautiful green space amidst the city, Old Settlers Park is the perfect choice, to spend a day outdoors. With facilities like playgrounds, trails and lake for fishing, this place is often filled with locals and tourists throughout the year. Nice and sunny atmosphere makes up for a perfect picnic spot, just to hang around the shady trees, or play a game of baseball.
»Texas State University Round Rock Campus
Texas State University Round Rock Campus, also called Texas State–Round Rock, is part of Texas State University. This smaller campus is located in Round Rock and has competitive academics.
»Walnut Creek Metropolitan Park
From challenging trails for mountain bikes to scenic paths along a lovely creek to an off-leash spot where dogs can run free, you'll find something for everyone at Walnut Creek Metropolitan Park! Bring the family during the summer to take a dip in the public pool. For a memorable day date bring a picnic and have lunch beside the water. And of course adrenaline seekers will love biking over hills or playing a game on one of the softball fields.
»Northeast Metro Park
A beautiful local park in Pflugerville, this one is spread over 349 acres (141.23 hectares) of lush green space. A multi-functional area, it is mostly used by the locals to play spots or relax. A perfect spot to unwind on weekends, the park has a tennis court, picnic tables with grills, cricket field and even a small water play area. Apart from all this, some premises of the park are also available on rent for private events and functions. Check website for more.
»Southwest Williamson County Regional Park
A gorgeous green space, Southwest Williamson County Regional Park is spread over 800 acres (323.74 hectares) in the beautiful city of Leander. The huge park is home to eleven soccer fields, eight tennis courts, two softball fields, six basketball courts and a football field. Apart from playing games here, you can choose to ride a cycle, go walking, or simply sit under the shady trees and enjoy the nature.
» Austin Aquarium
Fun for adults and kids alike, the Austin Aquarium is an educational and memorable outing for the whole family. Feel like you dove beneath the depths of the ocean and discover the brightly hued creatures that live below as you gaze into the giant tanks, feel the silky smooth skin of a stingray, and learn about the resident giant Pacific octopus. Daily talks, tours, special sleepovers for children, and birthday parties let guests get up-close and personal with the many inhabitants at the aquarium.
»Inner Space Cavern
After being sealed for over 10,000 years, this cave was discovered in 1963 when a group of workers were digging to build a highway overpass. Daily tours are available and last just over an hour. The cave stays a comfortable 72 degrees Farenheit year-round, and features not only beautiful rock formations but also the remains of prehistoric mastodons, saber-tooth cats and other ice age animals. After your tour, enjoy the shaded picnic area with a playscape for children.
»Austin Beerworks
Crack open a can of one of Austin Beerworks fine creations and enjoy the smooth taste of a craft beer. This unique brewery only sells beers in cans rather then bottles, claiming you should imagine the cans as little kegs. In truth, the cans are more eco-friendly and the brewers believe the beer tastes even better. Stop by the brewery for a tour or a tasting.
»Little Walnut Creek Branch
Established in 1979, the Little Walnut Creek Branch of Austin Public Library, has been functional ever since its inception. With a range of books across fields, it is mostly visited by locals in the area. A lot of events and local programs also keep taking place here, to entertain and engage the members. See website for upcoming schedule.
»Austin Civic Chorus
Performing all over Austin this chorus is a collaboration of several Austin musical organizations. Founded in 1965, the Civic Chorus joins the Austin Vocal Arts Ensemble, the Austin Children's Choir and the Orchestra of St. David's to perform some of the most famous musical arrangements around. The Chorus is dedicated to uniting the arts community through the collaboration of these fabulous performers. Performances are offered year-round.
»First Presbyterian Church of Austin
The First Presbyterian Church settled into a log cabin in Austin around 1850. Since that time, the church has moved to a number of different locations but throughout it all, the love of music reined supreme. In the present location, Oscar, the 100-year-old tracker organ, is the main attraction. With 32 stops, 35 ranks and 1894 pipes, of which about 10 ranks of pipes are from the original 1900 organ. Don't miss a service with this fantastic sound of history.


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Muby Chemicals of Mubychem Group, established in 1976, is the original manufacturers of Specialty Chemicals, Pharmaceutical Excipient, Fragrance & Flavor chemicals in India. Mubychem Group has several manufacturing facilities spread across Western India and world wide contacts and toll manufacturers. We are exporting globally to countries like USA, Canada, Europe, UAE, South Africa, Tanzania, Kenya, Egypt, Nigeria, Cameroon, Uganda, Turkey, Mexico, Brazil, Chile, Argentina, Dubai, Korea, Thailand, Malaysia etc. The participating units have one or more accreditations like FDA - GMP approval; ISO-9001:2008 Certified; "REACH" Pre-registered; ISO-22000:2005; Kosher Certified; Halal Certified; HACCP. We offer Commercial Pure & IP BP USP FCC Food Grade ACS AR Analytical Reagent Grades of Chemicals
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Muby Chemicals, established in 1976, is the pioneer manufacturer of Chlorides, and particularly Magnesium Chloride including Magnesium Chloride Anhydrous, Hexahydrate & Magnesium Chloride IP BP USP ACS Analytical Grade FCC Food Grade, Crystals Powder Lumps etc. We know about Magnesium Chloride better than any other vendor in the world.
Magnesium Chloride FCC Food Grade, US Food Chemical Codex
MgCl2·6H2O Formula wt 203.30
Magnesium Chloride occurs as colorless flakes or crystals. It contains six molecules of water of hydration. It is hygroscopic, very soluble in water, and freely soluble in alcohol.
Function: Color-retention agent; firming agent.
Identification: A 1:10 aqueous solution gives positive tests for Magnesium and for Chloride.
Assay: Not less than 99.0% and not more than 105.0% of MgCl2·6H2O.
Ammonium: Not more than 0.005%.
Lead: Not more than 4 mg/kg.
Sulfate: Not more than 0.03%.
Magnesium Chloride FCC Food grade manufacturers at:
Current Date Time in India GMT+5:30 hours
e-mail: email@example.com
USA & Canadian Customers may
e-mail: email@example.com
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Copyright and Usual Disclaimer is Applicable.
Last updated: 28 November, 2014.
Old Spice: Manufacturing since more than Three Decades: Ammonium Chloride Calcium Chloride Magnesium Chloride Potassium Chloride Sodium Acetate Sodium Formaldehyde Bisulfite Sodium Thiosulfate Zinc Chloride List of All the IP BP USP FCC ACS Grades of Chemicals Best Seller Fast Moving IP BP USP FCC ACS Grades of Chemicals Ex-stock Items Ammonium Bicarbonate Ammonium Bromide Ammonium Carbonate Ammonium Chloride Ammonium Molybdate Ammonium Sulfate Aluminum Chloride Benzyl Alcohol Borax; Sodium Borate Boric Acid Calcium Acetate Calcium Chloride Calcium Gluconate Calcium Hydroxide Calcium Lactate Calcium Oxide Calcium Saccharate Calcium Sulfate Chromic Chloride Citric Acid Calcium Citrate Copper Gluconate Copper Sulfate, Cupric Sulphate Cupric Chloride Ferrous Fumarate Ferrous Gluconate Fumaric Acid Ferrous Sulphate & Ferric Sulfate Ferric Ammonium Citrate Ferric Chloride Gentian Violet Mannitol Magnesium Chloride Magnesium Gluconate Magnesium Lactate Dihydrate Magnesium Sulfate Magnesium Trisilicate Maleic Acid Malic Acid BP USP Manganese Gluconate Manganese Sulfate Manganese Chloride Methylene Blue Potassium Bromide Potassium Chloride Potassium Gluconate Potassium Bitartrate, Cream of Tartar Potassium Hydroxide Potassium Iodide Potassium Iodate Potassium Sorbate Sodium Acetate Sodium Bicarbonate Sodium Butyrate Sodium Caprylate Sodium Fluoride Sodium Gluconate Sodium Hydroxide Pellets Sodium Iodide Sodium Lactate Sodium Perborate Sodium Propionate Sodium Thiosulfate Sodium Sulfate Stannous Chloride Dihydrate Zinc Carbonate Zinc Chloride Zinc Gluconate Other Best Seller Products: Ammonium Persulfate Barium Chloride Calcium Propionate Calcium Butyrate Calcium Formate Calcium Nitrite Nitrate Ceric Ammonium Nitrate Copper Chloride Cuprous Chloride Copper Sulfate Sulphate Isatoic Anhydride Magnesium Sulfate Sodium Butyrate Hydroxyethylidene diphosphonic acid, HEDP phosphonate Sodium Diacetate Sodium Propionate Sodium Nitrite Nitrate Sodium Formate Zinc Sulphate Snow Melting Granular Sodium Acetate Zinc Ammonium Chloride Galvanizing Flux All Product List
Exporters to USA Canada UAE Europe South Africa Tanzania Kenya Uganda Egypt Nigeria Turkey Mexico Brazil Argentina Chile Dubai etc.
Refresh Yourself with these pleasant thoughts.
If I give you "My Word" Nobody can undo it. If I sign an Agreement" my Lawyer will undo it
The trouble with the Rat Race is; Even if you Win you are still a Rat
If you want your work to be done well, then go to a busy man. The other one has no time.
If you pick up a hungry dog and feed it, It will never bite you. That is the principal difference between a dog and a man.
Wise men never sit and cry over their loss. But work on to redress the same.


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Breadcrumb Navigation:
Home > Businesses & Community > Workforce Development > Manassas and Woodbridge
Workforce Development - Manassas & Woodbridge
College Closing Policy for Workforce Development Students
For weather related closings, please check the college webpage or call
See a list of courses
Website is updated daily. Registration is continuous throughout the semester.
Need a Student ID Number? Complete the non-credit Application for Admission.
Nurse Aide Preparation Program
NVCC is offering two options for those seeking a nurse aide preparation class to become certified in the state of Virginia: Fast track full-time Monday-Friday
Evening part-time
Parking on all NOVA campuses is free on weekends and weekdays after 4pm in B lots only. All other times you must have a parking permit. Students may park at hourly parking meters or garages for $2 per hour. No parking permits are needed at off-campus locations.
Connect With Us
Building Skills, Creating Success.
Prince William County has the distinction of being served by two campuses of Northern Virginia Community College, the Manassas Campus in the western part of the county and the Woodbridge Campus in the eastern part. No matter where you are located within Prince William County or the surrounding region, the workforce development team is here to assist you with professional development and lifelong learning for you and the employees of your organization. Feel free to contact us with any questions. We look forward to working with you!
Manassas Workforce Development
(located off campus)
9485 Innovation Drive
Room 140
Manassas, VA 20110
Phone: 703.257.6630
ACLI Office, Testing & Registration
(located on campus)
MP (Parrish Hall) 204
6901 Sudley Road
Manassas, VA 20109
|Woodbridge Workforce Development
(located on campus)
15200 Neabsco Mills Road
Woodbridge, VA 22191
Phone: 703.878.5770
Coming in early 2016! The Regional Center for Workforce Education and Training
Classes coming up in the next few weeks...
State Mandated
- Parenting & Divorce
- Fundamentals of Project Management
- Performance Management
- TESOL: Realia as Course Content
- TESOL: Culture as Course Content
- TESOL: Teaching Pronunciation
- Pre-Licensing for Property & Casualty Insurance
- The Wedding Ceremony
- The Wedding Reception
- Careers in Defense & Intelligence
- AutoCAD Level I: Basics of 2D Drawing
- CompTIA A+ Essentials Part 1 (Hardware)
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- Home Electricity 1 - Wires/Boxes/Outlets
- Home Electricity 2 - Hands-On Lights/Fans/Outlets
- Home Electricity 3 - Breaker Box Basics
- Home Electricity 4 - Hands-On 220 Projects
- Basic Conversational Spanish - Level 2
- SAT Preparation - Math
- Landlord Tenant Law
- Basic Contractor Licensing
- Advanced Contractor Licensing
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Continuing Education for Tradesmen - Online
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New! Are you an
ISSA-NOVA member?
Call 703-878-5755 for details on courses available to you.
Oil & Gas Industry Certification Training.
See Careers category.
For more information,
e-mail Patricia Carrow.
Journeymen, master plumbers, electricians, HVAC mechanics, and gas fitters! Renew your license with our online tradesmen courses. See Construction Trades category .
Hybrid & Online Healthcare Course
Career Switchers
Become a licensed Virginia public school teacher
Become a Practical Nurse (LPN) at NOVA's Med Ed Campus. For more information, call


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Sign up for 2015 Sussex membership
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1839 Hospitality
Sample First Class hospitality at Sussex CCC
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County Ground
Visit the new County Ground website »
2015 tickets are now on sale.
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See Sussex's 2015 fixtures
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Keep up to date with all the latest Sussex Cricket Board news
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Latest News
YB40: Netherlands reminder13-May-2013
The Sharks are next back Yorkshire Bank 40 action when they travel to take on the Netherlands on Monday 20th May. The match will take place at..read more »
WASHOUT: No play due to rain at Edgbaston today in YB4012-May-2013
Sussex's Yorkshire Bank 40 encounter with Warwickshire Bears today was abandoned without a ball being bowled. Persistent rain throughout the a..read more »


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SearchAll Refuges
Families & kids ages 2-5: join us for story time, crafts & activities.
Learn More
Libby Roderick, May 26
Join us on Facebook and stay up to date on what is happening on the refuge.
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May 7-10, 2015
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The U.S. Fish & Wildlife Service has completed an Environmental Assessment of Caribou Control on Kagalaska Island.
The U.S. Fish and Wildlife Service is preparing a draft environmental impact statement regarding the unauthorized cattle on Chirikof and Wosnesenski Islands. The drafts are being written this winter and will hopefully be ready for public comment sometime this spring or summer. Once these draft documents are written, we will make them public and again ask for comments before making any final decisions. Meanwhile, this summer, a team of biologists, botanists, and range specialists visited Chirikof, Wosnesenski, and other islands in July.
The National Wildlife Refuge System, within the U.S. Fish and Wildlife Service, manages a national network of lands and waters set aside to conserve America's fish, wildlife, and plants.
(907) 235-6546
Winter Hours
Tuesday - Saturday
noon - 5pm
As a young army officer during World War II, Jones was among the first troops to go ashore at Adak in the central Aleutian Islands, that arc of submarine volcano peaks that extends from Alaska toward Siberia. He loved the treeless tundra, found the fierce winds invigorating and saw the snow-covered volcanic peaks as needing to be climbed.
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The Transportation Worker Identification Credential (TWIC) secure identification card is not as secure as necessary to prevent a potential terrorist attack at U.S. ports, according to a Government Accountability Office report released this month.
In its report, GAO found that the Transportation Security Administration does not have adequate processes in place to ensure that the TWIC biometric ID cards don't fall into the wrong hands. TSA cannot guarantee that only qualified applicants receive TWIC IDs, people who have received TWIC ID cards remain eligible to have them, and reviewers apply standard criteria for evaluating applicants with criminal records, according to the report.
In addition, undercover GAO auditors exposed physical security weaknesses at several U.S. ports by entering secure areas with counterfeit TWIC cards and real cards obtained fraudulently, the report states.
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Meet 100 women and men who are doing great things in federal IT.
Click here for the full list
Unisys Federal Systems' Venkatapathi Puvvada, this year's Eagle award winner for industry, stresses the importance of community.
Experts tell committee that business models, not technology, are the main obstacle to better sharing across systems.
Protests have delayed SEWP V, but industry experts say the contract vehicle offers agencies service and value that are hard to find.
The power of the individual informs FCW's coverage each and every day, but with the Federal 100, we take time to really spotlight and celebrate it. Get to know each of this year's winners.
The latest version of the Cybersecurity Information Sharing Act purportedly protects companies from liability and individuals from government intrusion.
Popular CIO is headed for the private sector.
The Census Bureau hasn't established a time frame for its cloud computing plans, including testing for scalability, security, and privacy protection, as well as determining a budget for cloud services.
President Obama's proposal to boost government coordination with the private sector got a warm welcome in the House Homeland Security Committee.
The spy agency wants to better integrate cybersecurity into its traditional human intelligence operations.
I agree 100% with the report -- I have a TWIC based on a semi-valid need. The process requires two visits to a location to get the card - both visits require two forms of valid ID - - but I was never questioned on the true verified need to have the card . . . .
Any ID system (currently) that is not based on a face to face vouchering of the person is subject to fraud. If man can create a perfect ID, then someone else can make a perfect forgery. And the more user friendly the ID has to be, the more vulnerable it is.Then you have the human factor to make mistakes and to bend rules, in most cases no stereotyping since all must be equally treated and to the lowest common denominator. That means that checklist investigations are performed that can not/are not allowed to see beyond a narrow range of questions. And the folks who are dishonest know how to tweak their responses/environment to get the "right" answers.The Chinese have forged/compromised CAC certificates, Mexicans have forged US driver licenses and forged US Social Security cards that look real, and the list goes on.The problem with better and better ID, is that most people expect "better" to mean "more secure", and that is true, for a few days. But after that, the "better" only means the honest folks are less likely to just walk in. Then the people inside become more lax and assume that the bad guys who want in have the same disadvantage as folks outside who do not care.
8609 Westwood Center Drive, Suite 500Vienna, VA 22182-2215 703-876-5100
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This is a truly great hotel and location simply cant be better.
A very helpful and nice staff, free parking and much more is free for you to use like bikes, ipads and laptops, beach towels, umbrellas and toys, dvds and books.
Rooms are clean and lovely. Well aired and air conditioned. We stayed in one of their Cosy rooms that had a kitchenette with microwave, fridge and everything you need to cook including plates and dishes and cutlery.
There is also a swimming pool and a grill for you to use - Anonymous
Nice compact little apartment with everything you would need for a self contained stay (beach towels and laundry facilities in the room) Perfect location with covered parking. - Anonymous
Appartement tout confort - Anonymous
Was more than impressed with the apartment. Was by far the best
apartment I have stayed in for the price. Was close to the beach, main
street, fishing and marina. Julie and Gavin were such a lovely couple. I
have nothing bad to say about my stay at Port Douglas Queenslander. I
will not go go into the price I paid, but if it was more than what I did
pay, I still would of been happy. Thanks Julie and Gavin, will not
hesitate to reccomend this lovely place. And thanks for my clothes
Gavin. I forgo - Anonymous
Choice of restaurants nearby.
The location of apartment. Pool. Light, bright airy apartment. Balcony with beautiful view over pool and sea.
Spacious, well layed out apartment. Reasonably well equipped. - Anonymous
I loved the fact there were no carpets in the apartments and the rooms smelt clean and fresh not musty like a lot of other hotels I've stayed in.
I liked how every room had a fan, you had the option to have the fan on or aircon on or both. - Anonymous
Staff really great and friendly. Rooms very stylish, easy access to pool.
Food in restaurant good. Awesome views and very relaxing- beautiful. - Anonymous
Staff were excellent. They couldnt have done more to make our stay as comfortable as possible. Delightful and friendly. Apartment was perfect for our needs, well equipped and spacious. Altogether an excellent place to stay for our week in Port Douglas. - Anonymous
Sheryl & Bob, our hosts, were so helpful with advice and suggestions on tours and when to book them for the best weather etc. The location was ideal giving close access to cafes, restaurants, shops and beach. A very well set up unit with everything that you need to ensure your stay is relaxed and easy - Anonymous
Beautiful two bedroom apartment with large living area, and good kitchen and laundry. Soft beds big bathtubs. 4km from the city centre which made it quiet. Staff were great. Free DVD movies including some for the kids. Cheap esky hire for a picnic. Safe for the kids. Two pools, one fully heated and one partially heated. BBQ area. Golf course next door. Three nights was not enough, should have stayed longer. - Anonymous
l'organisation a notre arrivée tardive, tout était prévu impeccable, la chambre avec cuisine en rez de jardin avec table extérieure donnant sur la piscine et le bbq, personnel très agréable malgré le barrage de la langue..... un endroit agréable a recommandé et bien situé. - Anonymous
Comfort, facilities, sanitation, bedroom, very efficient concierge and outdoor bar staff. - Anonymous


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Cute lovely 8 weeks kittens
Cute lovely 8 weeks kittens. Wonderful kittens who are playful and love their cudles. They are de-flead and de-wormed and litter trained. Ready now to be re-homed today after 7pm as I get back from work around then. Kindly call or email :)
- DOB:24 Jan 2015
- Rehome date:21 Mar 2015


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Roanoke Times
Out & About: Upright Citizens Brigade
Roanoke Times
Did you enjoy Amy Poehler on "Parks and Recreation" and "Saturday Night Live"? What about Horatio Sanz on "SNL?" Or Matt Walsh on HBO's "Veep?" Do you laugh at "Anchorman" and "Talladega Nights," co-written by Adam McKay? All of the above writers ...
Former SNL Comedian Pans the Show and Explains Why He Thinks It's ...
IJ Review
During an interview at last weekend's South By Southwest (SxSW) Music Festival, former "Saturday Night Live" cast member Horatio Sanz had a chance to dish on his old show. Sanz said the comedy sketch show is becoming too 'conservative' in its quest to ...
and more »
Former SNL Cast Member Blasts the Late Night Comedy Show for Its ...
IJ Review
During an interview at last weekend's South By Southwest (SxSW) Music Festival, former "Saturday Night Live" cast member Horatio Sanz had a chance to dish on his old show. Sanz said the comedy sketch show is becoming too 'conservative' in its quest to ...
and more »
'SNL' Alum Horatio Sanz Thinks The Show Is Too Conservative, Which Might ...
In my opinion, Horatio Sanz was one of the best members of Saturday Night Live in recent years, which is why it was such a shame to see him go. But maybe Sanz wasn't all that sad to have left Studio 8H. In an update to the book Live From New York by ...
and more »
Hollywood Reporter
Horatio Sanz: "Conservative" 'SNL' May Have Helped George W. Bush Get Elected
Hollywood Reporter
Saturday Night Live alum Horatio Sanz says the show may have helped President George W. Bush get elected in 2000. Sanz told ESPN's Bill Simons that Will Ferrell's endearing, beer-drinking, portrayal of Bush made the then-Texas governor more relatable ...
and more »
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text:
Clemson's Tajh Boyd always found the time to be a leader
Senior Tajh Boyd never his stardom interfere with making sure all of his teammates, whether a starter or a scout team member, felt appreciated.
If you'll pardon the one-more-time use of the overused "elite," there's little doubt Clemson senior quarterback Tajh Boyd ranks as an elite college-affiliated football quarterback. In fact, Boyd's numbers look startlingly similar to the numbers of one Peyton Manning at Tennessee.
Boyd leads slightly in career completion percentage, 64.0 to 62.7; Manning leads slightly in passing yards per game, 252.4 to 250.6, and in touchdown-to-interception ratio, 2.82:1 to 2.76:1.
He's responsible for an Atlantic Coast Conference-record 127 touchdowns. If you're into attaching a team's record to a quarterback, as is the custom these days, Boyd is 31-8 as a Clemson starter going into Friday's Discover Orange Bowl against Ohio State.
But there's no doubt that though (sorry) "elite," Boyd's not an elitist. Clemson's unquestioned leader is a man of the people.
"Tajh Boyd is a great guy. You can ask everyone on this field the same question, and you'll probably get the same answer," Clemson junior wide receiver Adam Humphries said. "Say we're standing around the lobby, he'll never be in one place. He's always moving around and just making sure everybody on the team knows he appreciates what they do, even scout team or starters. He's a guy I've looked up [to]. I always have."
Freshman safety Jayron Kearse, who is from South Fort Myers High, said: "He encourages everybody. Not just the offense. He encourages everybody — defensive backs, defensive ends, tackles, linebackers. He's an all-around leader. It's not just when people are looking, not just in the locker room. He's helping us when coaches are not looking, he's still being a leader."
Boyd is no helicopter leader. Kearse said when it comes to student-athlete life, Boyd lets his underclassmen Clemson teammates make the same mistakes he did so they can learn from them as he did.
"To watch Tajh and how he interacts with our fan base, with our community, with our university — I mean, Tajh truly is the face of our university," Clemson offensive coordinator Chad Morris said. "And to watch the accolades that he's gotten and the records that he's broken on the football field, he's done that much more off the field.
"I think, whether he takes another snap or not, for what he's done for this program and for this university has been instrumental, and he's definitely set the standard. Whoever the next quarterback's going to be at Clemson University, he's got big shoes to fill."
And if Boyd shreds Ohio State on Friday night, know that the hardcore Buckeyes fans in the Sun Life Stadium seats will grumble amongst themselves something like, "He should've been doing that for us."
Coming out of Hampton (Va.) Phoebus High School, Ohio State was one of many with the five-star recruit Boyd on their Get List. Boyd won the MVP award at the 2009 U.S. Army All-American Bowl and threw a touchdown pass to future Ohio State wide receiver Corey Brown in the game.
"If I would have committed at the Army All-American game during my recruiting process, I would have been a Buckeye right now," Boyd said. "But getting the chance to go down there and meet [now fifth-year senior running back] Roderick McDowell and meet [2009 defensive end recruit] Malliciah Goodman, those guys like that, really kind of helped change the course of it. Definitely feel like this is the best spot for me. I couldn't have picked a better school.
"It is kind of surreal to end your final game as a Clemson Tiger against Ohio State. It's going to be a fun matchup, and I can't wait."
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text: A sterling silver link and gray shell pearl station necklace. Original: $250.00 Sale: $87.50 Resplendent, 12mm, gray shell pearls and bright, textured sterling silver links make this necklace a shining example of beauty. Length: 18" Lobster clasp Imported All pearls are cultured pearls. Colored pearls may have been dyed. More


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Technology Briefing | Deals: ARM Holdings To Acquire Artisan
Published: August 24, 2004
The British semiconductor designer ARM Holdings has agreed to buy the American chip components company Artisan Components Inc. for $913 million, to bolster its product range. ARM's shares slumped yesterday on concerns it had overpaid. Artisan stockholders will receive $9.60 in cash and ARM stock equal to 4.41 ARM American depository shares for each outstanding Artisan share, ARM said. Artisan provides designs for components used in complex system-on-a-chip integrated circuits that can help reduce power consumption and shrink the size of devices like mobile phones and portable media players. Artisan shares closed $3.72 higher at $27.60. Based on closing prices for ARM depository shares on Friday, the implied value is $33.89 an Artisan share. On that basis, ARM's takeover represents a premium of around 42 percent to Artisan's closing share price on Friday of $23.88. ARM shares fell 19 percent, to 81.75 pence, as analysts and investors said ARM might have overpaid.
Graph tracks share prices of ARM for the week.


text:
Giving Tree: Rocky Mountain National Park
Where: On an autumn day, senior editor Natasha Gardner used her new camera in Rocky Mountain National Park to capture this image of a forest's life cycle.
Flying High: Telluride
Where: Associate editor Daliah Singer snapped this picture while riding the luxurious Telluride gondola, which connects the mountain's activities with the quaint town's laid-back restaurants and shops.
Scene Change: Kebler Pass
Where: Colorado's contrast of colors is displayed on Kebler Pass in September between the changing Aspen leaves and the mountain snow, as caught in this snapshot taken by senior associate editor Daliah Singer.
Ask a Staffer: First Concert
Whether your first concert was with your parents or your friends, it's an experience no one forgets. We asked the 5280 editorial staff about their first concerts. The list below is as varied as it is embarrassing. Jessica Farmwald, copy chief John Mayer and Maroon 5 in Indianapolis...
Kaleidoscope: Rocky Mountain National Park
Where: Come fall, people tend to look up at the changing aspens, but in this autumn shot, senior editor Natasha Gardner focused down, toward the changing colors of the grasses in Rocky Mountain National Park.
Thin Air: Air Force Football
Where: Air Force's mascot (known simply as "the bird") dives into the Falcons football stadium. Senior editor Natasha Gardner took this during an Air Force football game. Tip: Watch the Falcons take on the Navy Midshipmen on October 4.
Streaming By: Arkansas River
Where: From a bridge over calm water, features editor Lindsey B. Koehler photographed the changing autumn leaves falling into the Arkansas River near Salida, Colorado.
Still Life: Gunnison River
Where: Features editor Lindsey B. Koehler caught the vibrant colors along the Gunnison River just outside of the Blue Mesa Reservoir during a drive to Telluride.


text:
Coastal Residents Ready If Ana Gains Strength
Updated: 05/26/2010 - We caught up with some in Carteret County already preparing for hurricane season, even with no named storms as of yet. They say the key is to not become complacent.
Updated: 05/26/2010 - We caught up with some in Carteret County already preparing for hurricane season, even with no named storms as of yet. They say the key is to not become complacent.
Updated: 08/24/2009 - The name of a woman killed Monday morning in a head-on crash on Highway 24 has been released.
Posted: 08/07/2009 - It's your chance to help children in need get ready for the upcoming school year.
Posted: 08/06/2009 - The state-created, privately run plan provides wind and homeowners insurance policies in 18 coastal counties.
Updated: 08/06/2009 - They now predict a near-normal to below-normal season as the calming effects of El Nino continue to develop.
Posted: 08/03/2009 - Officials say construction on the two main arteries to one ferry dock will inconvenience some people, while budget cuts will lead to delays for others.
Posted: 07/30/2009 - The family of Sgt. Juan Baldeosingh has announced funeral arrangements for him.
Updated: 07/30/2009 - Authorities say a medical transport van was leaking liquid oxygen. Haz-mat crews shut down Highway 70 outside of Newport for almost four hours Thursday.
Updated: 07/30/2009 - A Newport mother called the Carteret County Health Department Monday to report her four year old daughter and another child had been playing with a live bat.
Updated: 07/29/2009 - Onslow County Health Department says the fox has tested positive for the disease after coming in contact with a person on Sunday. This comes after authorities in Carteret County say two children were playing with a rabid bat.
Updated: 08/03/2009 - Forestry officials say they got over an inch of rain this weekend. That helped put out hot spots that were still burning.
Posted: 07/27/2009 - The suspect allegedly involved in a convenience store robbery over the weekend has been arrested by Morehead City Police.
Posted: 07/27/2009 - A forest fire continues to burn in the East, flames have destroyed more than 2,000 acres of land.
Updated: 07/21/2009 - A weather alert for several coastal counties in the east this afternoon, as waterspouts and funnel clouds are spotted.
Updated: 07/21/2009 - Congressman Walter Jones dredging will help boaters and port users safely navigate the waterways, which is a key part of the Crystal Coast economy.
Updated: 07/21/2009 - It happened this weekend at a campground in Carteret County.
Updated: 07/27/2009 - The offices will close so they can switch to the state's new "central issuance" system.
Posted: 07/18/2009 - A Coast Guard helicopter crew rescued two missing men and their dog Saturday morning off the Core Sound banks near Atlantic.
Updated: 07/16/2009 - There have now been four deaths because of swine flu in the state, but health officials continue to update the public just once a week.
Updated: 07/15/2009 - The state insurance commissioner says not only will rates be scaled back to 2006 levels, but many will also get a refund.
Updated: 07/15/2009 - The recession is taking a toll on a popular civic service organization here in the east.
Updated: 07/14/2009 - The state House tentatively approved a plan to fix an underfunded coastal insurance program after first refusing to double the insurance industry's maximum liability from a catastrophic hurricane to $2 billion.
Updated: 07/14/2009 - 39-year-old Danny Ballard lost his life, fire crews say he was found near the front door of the home.
Updated: 07/16/2009 - 46 year old Dale Beatty was caught 9:15 P.M. Wednesday in Springfield, Ohio. That's where his wife lives.
Updated: 07/11/2009 - 67-year-old Michael Dodick was supposed to return at 4:00 p.m. Thursday after a day of dolphin fishing some 40 miles off the coast. His boat has been found, washed up on the beach at Camp Lejeune.


text:
Marilyn Harp, Kansas Legal Services executive director, will be hosting an Elder Law Hotline orientation and refresher talk from Noon-1 p.m on Wednesday, May 21, 2014. Please join all or part of this conference call to learn more about the hotline and volunteer opportunities.
Elder Law Hotline is a project of Kansas Legal Services. Hotline attorneys answer questions in civil cases for Kansans age 60 or older. Cases may be referred to a local Senior Citizens Law Project attorney or a private attorney through the Elder Law Panel organized cooperatively with the Kansas Bar Association. The hotline addresses the increasing need for quality elder law services in a largely rural state. Considering the limitations on both physical and geographic mobility, a statewide hotline service is an effective method for delivering legal services to elderly Kansans. In 2009, the KBA gave its annual Pro Bono Award to the Elder Law Hotline. This award recognizes a lawyer or law firm for the delivery of direct legal services free of charge to the poor or vulnerable.
Participants need to dial (866) 514-9635 and enter PIN 96691970# to join the call.
Visit http://www.kansaslegalservices.org/node/1250 to learn more about the Elder Law Hotline.
3/25/2015High school students object … to hearsay
3/24/2015Kathryn Gardner to be sworn in May 8
3/13/2015Supreme Court accepting comment on proposed change to records rule
3/2/2015Gene Balloun celebrates 1,000th pro bono adoption
4/1/2015Diversity Committee Meeting
4/1/2015Brown Bag Ethics: The Bermuda Triangle of Law: Ethics, Advertising, and Social Media Use
4/8/2015Brown Bag Ethics: Recent Developments in Ethics
4/10/20152015 Bankruptcy & Insolvency CLE


text:
Accommodation Birkenhead
(54) for Accommodation in Birkenhead
The Yew Tree Hotel52-58 Rock Lane WestCH42 4PA Birkenhead0151 645 4112Open
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The Royal Castle Hotel2 New Chester RoadCH41 9AY Birkenhead+44 (0) 151 666 1668Open
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Grand Trunk Hotel55 Duke StreetCH41 8BW Birkenhead0151 652 3348
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The Guest House is located in quiet residential area in Birkenhead, offering free parking.We are perfectly positioned to get around the Wirral, to Liverpool and North Wales..We are privately owned ... guest house, accommodation
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Hewden Hire Centres LtdConway StreetCH41 6JD Birkenhead01516661711
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We opened our first shelter in January 1992 in an usused church. For 6 years we were winter opening only. Situated in Sandford Street, which is off Cleveland Street, near Hamilton Square, Birkenhead....
Birkenhead Ymca56 Whetstone LaneCH41 2TJ Birkenhead0151 650 1015
YMCA WIRRAL. Helping to build positive futures and overcome barriers for people of all ages. Support Charity, Assisted Housing and much more.
Lodge Rest Home Ltd20 Prenton Lane, PrentonCH42 9NX Birkenhead
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Englewood Residential Care HomesEgerton ParkCH42 4QZ Birkenhead Egerton Park0151 645 5064
List of care homes residential and nursing in Liverpool Merseyside.
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Age UK Wirral exists to promote the wellbeing of older people in the whole of the Metropolitan Borough of Wirral helping to make later life a fulfilling and enjoyable experience. We believe that...
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AbleNet UK Online is part of Wirral UK Online, a Government funded initiative intended to deliver ICT training and support directly into the heart of the community. The project was set up with...
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