text:
Press release from PR Newswire
American Capital Agency Reports $1.36 Earnings, $26.76 Book Value Per Share, Adds Two Directors
Tuesday, July 26, 2011
American Capital Agency Reports $1.36 Earnings, $26.76 Book Value Per Share, Adds Two Directors16:01 EDT Tuesday, July 26, 2011BETHESDA, Md., July 26, 2011 /PRNewswire/ -- American Capital Agency Corp. (?AGNC? or the ?Company?) (Nasdaq: AGNC) today reported net income for the second quarter of 2011 of $177.8 million, or $1.36 per share, and book value of $26.76 per share. Additionally, the Company announced that Robert M. Couch and Samuel A. Flax were elected today to its Board of Directors.SECOND QUARTER 2011 FINANCIAL HIGHLIGHTS $1.36 per share of net income$1.41 per share, excluding $0.05 per share of other investment related losses$1.56 per share of taxable income(1) $1.40 per share second quarter dividend $0.44 per share of undistributed taxable income as of June 30, 2011Increased $0.02, or 5%, from $0.42 per share as of March 31, 2011$26.76 book value per share as of June 30, 2011Increased $0.80, or 3%, from $25.96 per share as of March 31, 201119% annualized return on average stockholders? equity (?ROE?) for the quarter(2) OTHER SECOND QUARTER HIGHLIGHTS $40 billion investment portfolio value as of June 30, 20117.5x leverage as of June 30, 2011(3)7.6x average leverage for the quarter(4)(5)9% constant prepayment rate (?CPR?) for the second quarter of 2011(6)8% CPR for the month of July 2011(7)2.46% annualized net interest rate spread for the quarter2.36% net interest spread as of June 30, 2011$1.37 billion of net proceeds raised from follow-on equity offering during quarterEquity raise was accretive to book value?AGNC continued to produce strong results despite considerable volatility in the markets. In addition to paying $1.40 per share of dividends for the ninth straight quarter, we were able to grow our book value, increase what many analysts refer to as core earnings and grow our undistributed taxable income,? said Gary Kain, AGNC President and Chief Investment Officer. ?Importantly, despite our growth, AGNC?s commitment to asset quality has never been stronger with an increase in the percentage of securities backed by loans with favorable prepayment attributes to approximately 85% of our 15 year mortgage securities and almost 70% of our 30 year mortgage securities backed by either lower loan balances or higher loan to-value loans refinanced through the Home Affordable Refinance Program (?HARP?). This marks nearly a 37% increase in the total percentage of 15 year and 30 year securities with similar attributes over March 31, 2011,? continued Mr. Kain. INVESTMENT PORTFOLIOAs of June 30, 2011, the Company?s investment portfolio totaled $39.9 billion of agency securities, at fair value, comprised of $34.8 billion of fixed-rate securities, $4.6 billion of adjustable-rate securities (?ARMs?) and $0.5 billion of collateralized mortgage obligations ("CMOs") backed by fixed and adjustable-rate securities(8). As of June 30, 2011, AGNC's investment portfolio was comprised of 49% less than or equal to 15-year fixed-rate securities, 4% 20-year fixed-rate securities, 34% 30-year fixed-rate securities(9), 12% ARMs and 1% CMOs backed by fixed and adjustable-rate agency securities. ASSET YIELDS, COST OF FUNDS AND NET INTEREST RATE SPREADDuring the quarter, the annualized weighted average yield on the Company?s average earning assets was 3.35% and its annualized average cost of funds was 0.89%, which resulted in a net interest rate spread of 2.46%, a decrease of 12 bps from the first quarter of 2011. As of June 30, 2011, the weighted average yield on the Company?s earning assets was 3.45% and its weighted average cost of funds was 1.09%(10). This resulted in a net interest rate spread of 2.36% as of June 30, 2011, a decrease of 6 bps from the weighted average net interest rate spread as of March 31, 2011 of 2.42%(11). The weighted average cost basis of the investment portfolio was 104.4% (or 103.8% excluding interest-only strips) as of June 30, 2011. The amortization of premiums (net of any accretion of discounts) on the investment portfolio for the quarter was $78.9 million, or $0.60 per share. The unamortized net premium as of June 30, 2011 was $1.7 billion.Premiums and discounts associated with purchases of agency securities are amortized or accreted into interest income over the estimated life of such securities, using the effective yield method. Given that the cost basis of the Company?s mortgage assets exceeds the underlying principal balance by 4.4% as of June 30, 2011, slower actual and projected prepayments can have a meaningful positive impact, while faster actual or projected prepayments can have a meaningful negative impact, on the Company?s asset yields. The weighted average projected CPR for the remaining life of all of the Company?s investments held as of June 30, 2011 was 10%; unchanged from March 31, 2011. The actual CPR for the Company?s portfolio during the second quarter of 2011 was 9%, a decrease from 13% during the first quarter of 2011. The most recent CPR published in July 2011 for the Company?s portfolio held as June 30, 2011 was 8%.?We are very pleased with the prepayment performance of our securities. The aggregate projected CPR of our portfolio as of June 30, 2011 benefited from the changing composition of our portfolio including our acquisition of newer, lower coupon securities backed by loans with favorable prepayment attributes during the quarter. Our projected CPR remained unchanged from March 31, 2011 at 10%, despite an overall decrease in interest rates during the second quarter,? said Chris Kuehl, AGNC Senior Vice President, Mortgage Investments.The Company?s average cost of funds increased 8 basis points from 0.81% for the first quarter of 2011 to 0.89% for the second quarter of 2011, due largely to timing differences between asset settlements and the initiation of new interest rate swap contracts. LEVERAGE AND HEDGING ACTIVITIES As of June 30, 2011, the Company?s $39.9 billion investment portfolio was financed with $33.5 billion of repurchase agreements, $0.1 billion of other debt(12) and $4.8 billion of equity capital, resulting in a leverage ratio of 7.0x. When adjusted for the net payable for agency securities not yet settled, the leverage ratio was 7.5x as of June 30, 2011. The average leverage for the quarter was 7.6x, which is calculated as the daily weighted average repurchase agreement and other debt balance outstanding, excluding repurchase agreements for treasury securities, divided by the average month-ended equity for the quarter. Average leverage was 8.3x, pro forma, when average month-ended equity is adjusted to exclude the June 2011 follow-on equity offering that closed on June 28, 2011.Of the $33.5 billion borrowed under repurchase agreements as of June 30, 2011, $13.5 billion had original maturities of 30 days or less, $11.8 billion had original maturities greater than 30 days and less than or equal to 60 days, $4.2 billion had original maturities greater than 60 days and less than or equal to 90 days and the remaining $4.0 billion had original maturities of 91 days or more. As of June 30, 2011, the Company had repurchase agreements with 26 financial institutions. The Company?s interest rate swap positions as of June 30, 2011 totaled $22.2 billion in notional amount at an average fixed pay rate of 1.68%, a weighted average receive rate of 0.19% and a weighted average maturity of 3.6 years. During the quarter, the Company increased its swap position, including forward starting swaps ranging up to seven months, by $7.3 billion in conjunction with an increase in the portfolio size. The new swap agreements entered into during the quarter have an average term of approximately 3.9 years and a weighted average fixed pay rate of 1.44%. The Company enters into swaps with longer maturities with the intention of protecting its book value and longer term earnings potential. The Company also utilizes interest rate swaptions to mitigate the Company?s exposure to larger changes in interest rates. During the quarter, the Company added $2.7 billion of payer swaptions at a cost of $36.3 million, while $700 million of payer and $250 million of receiver swaptions from previous quarters expired for a total loss of $3.9 million. As of June 30, 2011, the Company had $4.1 billion in payer swaptions outstanding at a market value of $36.4 million with an average maturity of 7.0 years. As of June 30, 2011, 66% of the Company?s repurchase agreement balance and other debt were hedged through interest rate swap agreements. If net unsettled purchases and sales of securities are incorporated, this percentage declines to 62%. These percentages do not reflect the swaps underlying the payer swaptions noted above.OTHER INCOME (LOSS), NETDuring the quarter, the Company recorded $6.1 million in other loss, net, or $0.05 per share. Other loss is comprised of $93.9 million of net realized gains on sales of agency securities, $80.4 million of net realized losses on derivative and trading securities and $19.6 million of net unrealized losses, including reversals of prior period unrealized gains and losses realized during the current quarter, on derivative and trading securities that are marked-to-market in current income. The net gains and losses (realized and unrealized) on derivative and trading securities generally represent instruments that are used to supplement the Company?s interest rate swaps (such as swaptions and short or long positions in ?to-be-announced? mortgage securities ("TBA?s"), Markit IOS total return swaps(13) and treasury securities). Under accounting rules, these positions are not in hedge relationships and consequently changes in fair value are recorded in current income instead of shareholders? equity. The Company uses these supplemental hedges to reduce its exposure to interest rates.TAXABLE INCOME Taxable income for the second quarter of 2011 was $1.56 per share, or $0.20 higher than GAAP net income per share for the quarter. The primary difference between tax and GAAP net income is unrealized gains and losses associated with derivatives marked-to-market in current income for GAAP purposes but excluded from taxable income until realized or settled. For the second quarter, $19.6 million of net unrealized losses, including prior period reversals, were recognized for GAAP but excluded from taxable income for the quarter. NET ASSET VALUEAs of June 30, 2011, the Company?s net asset value per share was $26.76, or $0.80 higher than the March 31, 2011 net asset value per share of $25.96. SECOND QUARTER 2011 DIVIDEND DECLARATIONOn June 10, 2011, the Board of Directors of the Company declared a second quarter 2011 dividend of $1.40 per share payable on July 27, 2011, to stockholders of record as of June 23, 2011. Since its May 2008 initial public offering, the Company has paid or declared a total of $679.6 million in dividends, or $16.06 per share. After adjusting for the second quarter 2011 accrued dividend, the Company had approximately $78 million of undistributed taxable income as of June 30, 2011. Undistributed taxable income per share as of June 30, 2011 was $0.44 per share, a $0.02 per share increase from March 31, 2011. BOARD OF DIRECTORSAt its meeting on July 26, 2011, the Company?s Board of Directors voted to increase the size of the Board by two and elected Robert M. Couch and Samuel A. Flax to the new positions. ?We are very excited to have Rob and Sam join our Board of Directors,? said Malon Wilkus, Chairman and Chief Executive Officer of AGNC. ?Both of these Directors bring a wealth of insight and experience which will be invaluable to our Board, and I expect that they will play an integral role in guiding AGNC in the years ahead.?Mr. Couch is President and Chief Executive Officer of ARK Real Estate Strategies, LLC and Counsel to Bradley Arant Boult Cummings, a Birmingham based law firm. He is also a member of the Board of Directors of Prospect Holding Company, LLC, the parent company of Prospect Mortgage of Sherman Oaks, California.Mr. Couch is the former President of the Government National Mortgage Association (?Ginnie Mae?). As President of Ginnie Mae, Mr. Couch administered Ginnie Mae's mortgage-backed securities program, valued at over $414 billion, and its $123 billion Real Estate Mortgage Investment Conduit program. Also, Mr. Couch served as General Counsel of the United States Department of Housing and Urban Development (?HUD?) from June 2007 to November 2008. Prior to his government service, Mr. Couch served as President and CEO of New South Federal Savings Bank. At the time, New South was the largest thrift in Alabama. An active member of the mortgage banking industry, Mr. Couch is the former Chairman and a member of the Board of Directors of the Mortgage Bankers Association of America. Mr. Flax has served as Executive Vice President and Secretary of the Company and as Vice President and the Secretary of its manager, American Capital Agency Management, LLC, since their formation in 2008. Also, he has served as Executive Vice President, General Counsel, Chief Compliance Officer and Secretary of American Capital, Ltd. (?American Capital?) since 2005. Prior to joining American Capital, Mr. Flax was a partner in the corporate and securities practice group of the Washington, D.C. law firm of Arnold & Porter LLP from 1990 to 2005, where he was American Capital?s principal outside counsel.(1) Based on the weighted average shares outstanding for the quarter. Please refer to the section on the use of Non-GAAP financial information(2) Annualized ROE based on net income and average month-ended stockholders? equity for the quarter. Average ROE was 21%, pro forma, when average equity is adjusted to exclude the June 2011 follow-on equity offering that closed on June 28, 2011(3) Leverage calculated as the sum of total repurchase agreements, net payable for unsettled purchases and sales of securities and other debt divided by total stockholders? equity as of June 30, 2011(4) Average leverage calculated as the daily weighted average repurchase agreement balance outstanding, less repurchase agreements for treasury securities and other debt divided by average month-ended equity (5) Average leverage was 8.3x, pro forma, when average equity is adjusted to exclude the June 2011 follow-on equity offering that closed on June 28, 2011(6) Weighted average monthly annualized CPR published during April, May and June 2011 for securities held during the quarter (7) Weighted average actual annualized CPR published in July 2011 for securities held as of June 30, 2011(8) CMO balance includes $0.2 billion of fixed and adjustable rate interest-only and principal-only strips (9) 30-year fixed rate securities includes $95 million of 40-year fixed rate securities(10) Cost of funds as of June 30, 2011 includes the impact of swaps in effect as of June 30, 2011 of $14.1 billion, plus $6.9 billion of forward starting swaps becoming effective, net of swap expirations, within the three month period following June 30, 2011(11) Cost of funds as of March 31, 2011 includes the impact of swaps in effect as of March 31, 2011 of $9.4 billion, plus $3.7 billion of forward starting swaps becoming effective, net of swap expirations, within the three month period following March 31, 2011(12) Other debt consists of other variable rate debt outstanding at Libor + 25 bps in connection with the consolidation of a structured transaction recorded as a financing transaction under GAAP(13) Long total return swap positions on the Markit IOS index synthetically replicate the purchase of interest only securities funded at 1 month LIBORFinancial highlights for the quarter are as follows:AMERICAN CAPITAL AGENCY CORP.CONSOLIDATED BALANCE SHEETS(in thousands)June 30, 2011March 31, 2011December 31, 2010September 30, 2010(unaudited)(unaudited)(unaudited)Assets: Agency securities, at fair value (including pledged assets of $35,117,998, $23,190,698, $12,270,909 and $8,321,498, respectively)$ 39,925,707$ 28,192,575$ 13,510,280$ 9,736,463 Cash and cash equivalents625,850300,574173,258115,266 Restricted cash188,77275,22176,09462,462 Interest receivable139,265102,43856,48542,034 Derivative assets, at fair value86,064142,04776,59311,344 Receivable for agency securities sold1,251,624298,320258,984350,056 Principal payments receivable29,25442,66775,52440,129 Receivable under reverse repurchase agreements1,388,188-247,438- Other assets1,8461,1211,1731,052Total assets$ 43,636,570$ 29,154,963$ 14,475,829$ 10,358,806Liabilities: Repurchase agreements$ 33,505,142$ 21,994,039$ 11,680,092$ 7,969,399 Other debt61,75767,84572,92780,822.00 Payable for agency securities purchased3,336,4853,504,600727,3741,223,064 Derivative liabilities, at fair value290,28692,65878,590113,900 Dividend payable180,360135,28090,79854,554 Obligation to return securities borrowed under reverse repurchase agreements, at fair value1,459,298-245,532- Accounts payable and other accrued liabilities26,59616,0408,4524,022Total liabilities38,859,92425,810,46212,903,7659,445,761Stockholders' equity:Preferred stock, $0.01 par value; 10,000 shares authorized, 0 shares issued and outstanding, respectively----Common stock, $0.01 par value; 300,000 shares authorized, 178,509, 128,829, 64,856 and 38,967 shares issued and outstanding, respectively1,7851,288649390Additional paid-in capital4,682,0703,314,1191,561,908880,571Retained earnings73,84176,37978,11630,835Accumulated other comprehensive income (loss)18,950(47,285)(68,609)1,249Total stockholders' equity4,776,6463,344,5011,572,064913,045Total liabilities and stockholders' equity$ 43,636,570$ 29,154,963$ 14,475,829$ 10,358,806AMERICAN CAPITAL AGENCY CORP.CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)(in thousands, except per share data)Three Months Ended June 30, Six Months Ended June 30, 2011201020112010Interest income: Interest income$ 264,728$ 50,589$ 429,221$ 89,386 Interest expense63,81617,34899,46432,858 Net interest income200,91233,241329,75756,528Other (loss) income, net:Gain on sale of agency securities, net93,89229,58598,11256,993Loss on derivative instruments and trading securities, net(100,013)(21,867)(88,484)(15,947) Total other (loss) income, net(6,121)7,7189,62841,046Expenses: Management fees12,4232,31420,8774,098 General and administrative expenses4,5461,7877,1433,468 Total expenses16,9694,10128,0207,566Net income$ 177,822$ 36,858$ 311,365$ 90,008Net income per common share - basic and diluted$ 1.36$ 1.23$ 2.82$ 3.28Weighted average number of common shares outstanding - basic and diluted130,46729,872110,49627,451Dividends declared per common share$ 1.40$ 1.40$ 2.80$ 2.80AMERICAN CAPITAL AGENCY CORP.KEY PORTFOLIO CHARACTERISTICS*(unaudited)(in thousands, except per share data)Three Months EndedJune 30, 2011March 31, 2011December 31, 2010September 30, 2010June 30, 2010 Average agency securities, at cost$ 31,552,263$ 19,361,473$ 11,603,957$ 7,751,068$ 5,886,806 Average total assets, at fair value$ 34,442,961$ 20,472,785$ 11,605,200$ 8,454,760$ 6,498,247 Average repurchase agreements$ 28,668,011$ 17,755,790$ 10,813,568$ 7,241,783$ 5,548,225 Average stockholders' equity$ 3,785,199$ 2,411,628$ 1,291,127$ 853,250$ 705,466 Fixed-rate agency securities, at fair value - as of period end$ 34,800,625$ 22,875,909$ 9,101,479$ 5,647,393$ 3,063,016 Adjustable-rate agency securities, at fair value - as of period end$ 4,612,940$ 4,915,994$ 3,950,164$ 3,630,469$ 3,589,711 CMO agency securities, at fair value - as of period end$ 265,099$ 290,321$ 401,898$ 439,347$ 483,667 Interest-only strips agency securities, at fair value - as of period end$ 206,829$ 110,351$ 56,739$ 19,254$ 29,996 Principal-only strips agency securities, at fair value - as of period end$ 40,215$ -$ -$ -$ - Average coupon (1)4.44%4.58%4.86%5.03%5.20% Average asset yield (2)3.35%3.39%3.48%3.23%3.44% Average cost of funds (3)0.89%0.81%0.90%1.02%1.07% Average cost of funds - terminated swap amortization expense (4)----0.19% Average net interest rate spread (5)2.46%2.58%2.58%2.21%2.18% Average actual CPR for securities held during the period9%13%18%15%28% Average forecasted CPR as of period end10%10%12%18%20% Leverage (average during the period) (6)7.6:17.4:18.4:18.5:17.9:1 Leverage (as of period end) (7)7.5:17.6:17.8:19.8:18.2:1 Expenses % of average assets (8) 0.20%0.22%0.23%0.22%0.25% Expenses % of average stockholders' equity (9) 1.80%1.86%2.03%2.15%2.33% Net asset value per common share as of period end (10)$ 26.76$ 25.96$ 24.24$ 23.43$ 23.54 Dividends declared per common share$ 1.40$ 1.40$ 1.40$ 1.40$ 1.40 Annualized economic return (11)34.0%52.2%37.4%21.7%35.5% Net return on average stockholders' equity (12)18.8%22.5%42.4%27.9%21.0%* Average numbers for each period are weighted based on days on the Company?s books and records. All percentages are annualized. (1) Weighted average coupon for the period was calculated by dividing the Company?s total coupon (or cash) interest income on agency securities by the Company?s daily weighted average agency securities held.(2) Weighted average asset yield for the period was calculated by dividing the Company?s total interest income on agency securities, less amortization of premiums and discounts, by the Company?s daily weighted average agency securities held. (3) Weighted average cost of funds for the period was calculated by dividing the Company?s total interest expense, less amortization expense related to the termination of interest rate swaps, by the Company?s daily weighted average repurchase agreements and other debt outstanding, less repurchase agreements for treasury securities, for the period. (4) Weighted average cost of funds related to terminated interest rate swap amortization expense was calculated by dividing the Company?s amortization expense by the Company?s weighted average repurchase agreements. The amortization expense associated with the termination of interest rate swaps was $ - , $ -, $ - , $ - and $2.6 million for the respective periods presented.(5) Net interest rate spread for the period was calculated by subtracting the Company?s weighted average cost of funds, net of interest rate swaps and terminated swap amortization expense, from the Company?s weighted average asset yield. (6) Leverage during the period was calculated by dividing the Company?s daily weighted average repurchase agreements and other debt outstanding, less repurchase agreements for treasury securities, for the period by the Company?s average month-ended stockholders? equity for the period. Average leverage for the quarter-ended June 30, 2011 was 8.3x, pro forma, when average equity is adjusted to exclude the June 2011 follow-on equity offering that closed on June 28, 2011.(7) Leverage at period end was calculated by dividing the sum of the amount outstanding under the Company?s repurchase agreements, net receivable / payable for unsettled agency securities and other debt by the Company?s total stockholders? equity at period end. (8) Expenses as a % of average total assets was calculated by dividing the Company?s total expenses by the Company?s average total assets for the period. (9) Expenses as a % of average stockholders? equity was calculated by dividing the Company?s total expenses by the Company?s average month-ended stockholders? equity. (10) Book value per share was calculated by dividing the Company?s total stockholders? equity by the Company?s number of shares outstanding. (11) Annualized economic return represents the sum of the change in net asset value over the period and dividends declared during the period over the beginning net asset value on an annualized basis. (12) Annualized net return on average stockholders? equity for the period was calculated by dividing the Company?s net income by the Company?s average month-ended stockholders? equity on an annualized basis. Average ROE was 21%, pro forma, when average equity is adjusted to exclude the June 2011 follow-on equity offering that closed on June 28, 2011.DIVIDEND REINVESTMENT AND DIRECT STOCK PURCHASE PLANDuring the quarter, AGNC did not issue shares under the Dividend Reinvestment and Direct Stock Purchase Plan (the ?Plan?) through either direct stock purchases or dividend reinvestment.AGNC?s Plan provides prospective investors and existing stockholders with a convenient and economical method to purchase shares of the Company?s common stock. By participating in the Plan, investors may purchase additional shares of common stock by reinvesting some or all of the cash dividends received on shares of the Company?s common stock. Investors may also make optional cash purchases of shares of the Company?s common stock subject to certain limitations detailed in the Plan prospectus. To review the Plan prospectus, please visit the Company?s Investor Relations website at www.AGNC.com. STOCKHOLDER CALLAGNC invites stockholders, prospective stockholders and analysts to attend the AGNC stockholder call on July 27, 2011 at 8:00 am ET. The stockholder call can be accessed through a live webcast, free of charge, at www.AGNC.com or by dialing (877) 569-8701 (U.S. domestic) or +1 (574) 941-7382 (international). Please provide the operator with the conference ID number 84890133. If you do not plan on asking a question on the call and have access to the internet, please take advantage of the webcast. A slide presentation will accompany the call and will be available at www.AGNC.com. Select the Q2 2011 Earnings Presentation link to download and print the presentation in advance of the Stockholder Call.An archived audio of the stockholder call combined with the slide presentation will be made available on the Company?s website after the call on July 27. In addition, there will be a phone recording available from 11:00 am ET July 27 until 11:59 pm ET August 10. If you are interested in hearing the recording of the presentation, please dial (800) 642-1687 (U.S. domestic) or +1 (706) 645-9291 (international). The conference ID number is 84890133.For further information, please contact Investor Relations at (301) 968-9300 or email@example.com AMERICAN CAPITAL AGENCY CORP.American Capital Agency Corp. is a real estate investment trust (?REIT?) that invests in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company is externally managed and advised by American Capital Agency Management, LLC, an affiliate of American Capital. For further information, please refer to www.AGNC.com.ABOUT AMERICAN CAPITALAmerican Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $37 billion in assets under management and eight offices in the U.S., Europe and Asia. American Capital and its affiliates will consider investment opportunities from $10 million to $300 million. For further information, please refer to www.AmericanCapital.com.FORWARD LOOKING STATEMENTSThis press release contains forward-looking statements. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability and terms of financing, changes in the market value of our assets, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements, are included in the Company?s periodic reports filed with the Securities and Exchange Commission (?SEC?). Copies are available on the SEC?s website, www.sec.gov. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt or new information, or otherwise.USE OF NON-GAAP FINANCIAL INFORMATIONIn addition to the results presented in accordance with GAAP, this release includes non-GAAP financial information, including our taxable income and certain financial metrics derived based on taxable income, which management uses in its internal analysis of results, and believes may be informative to investors. Taxable income is pre-tax income calculated in accordance with the requirements of the Internal Revenue Code rather than GAAP. Taxable income differs from GAAP income because of both temporary and permanent differences in income and expense recognition. Examples include temporary differences for unrealized gains and losses on derivative instruments and trading securities recognized in income for GAAP but excluded from taxable income until realized or settled, differences in the CPR used to amortize premiums or accrete discounts as well as treatment of start-up organizational costs, hedge ineffectiveness, and stock-based compensation and permanent differences for excise tax expense. Furthermore, taxable income can include certain estimated information and is subject to potential adjustments up to the time of filing of the appropriate tax returns, which occurs after the end of the calendar year of the Company. The Company believes that these non-GAAP financial measures provide information useful to investors because taxable income is directly related to the amount of dividends the Company is required to distribute in order to maintain its REIT tax qualification status. The Company also believes that providing investors with our taxable income and certain financial metrics derived based on such taxable income, in addition to the related GAAP measures, gives investors greater transparency to the information used by management in its financial and operational decision-making. However, because taxable income is an incomplete measure of the Company's financial performance and involves differences from net income computed in accordance with GAAP, taxable income should be considered as supplementary to, and not as a substitute for, the Company's net income computed in accordance with GAAP as a measure of the Company's financial performance. In addition, because not all companies use identical calculations, our presentation of our estimated taxable income may not be comparable to other similarly-titled measures of other companies. CONTACT:Investors - (301) 968-9300Media - (301) 968-9400SOURCE American Capital Agency Corp.


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subset: commoncrawl


text:
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Situated in Gradignan, this hotel is close to Church St-Pierre of Gradignan, Theater Four Seasons, and Michel de Montaigne Bordeaux 3 University. Also nearby are House of Nature and Cite Fruges.
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In addition to a restaurant, Au Comté d'Ornon - Logis features a bar/lounge. Other amenities include complimentary wireless Internet access and free self parking.
Room Amenities
Televisions come with satellite channels. Guestrooms also feature complimentary wireless Internet access, air conditioning, and desks.Information missing or incorrect? Tell us!
Hotel Amenities
Hotel Amenities
The hotel offers a restaurant. A bar/lounge is on site where guests can unwind with a drink. High-speed wireless Internet access is complimentary. This Gradignan hotel also offers multilingual staff and a garden. Complimentary self parking is available on site.
Au Comté d'Ornon - Logis is a smoke-free property.
- Number of floors - 1
- Total number of rooms - 36
- Bar/lounge
- Breakfast available (surcharge)
- Free WiFi
- Multilingual staff
- Garden
- Restaurant
- Free self parking
- Smoke-free property
Available in all rooms: Free WiFi
Available in some public areas: Free WiFi
Free self parking
Room Amenities
- Air conditioning
- Free WiFi
- Phone
- Bathtub or shower
- Desk
- Private bathroom (not in room)
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Where to Eat
Buffet breakfasts are available for a surcharge.
Au Comté d'Ornon - Logis has a restaurant on site.
Nearby Things to Do
The recreational activities listed below are available either on site or nearby; fees may apply.
- Mountain biking nearby
To make requests for specific accessibility needs, complete the "Special or Accessibility Requests" section of "Trip Preferences" when you book your hotel.
- Accessible bathroom
- In-room accessibility
Hotel Policies
Check-in time starts at 2 PM
Check-in time ends at 7 PM
Check-out time is noon
Payment types
Pets allowed, Only dogs are allowed
You need to know
Extra-person charges may apply and vary depending on hotel policy.
Government-issued photo identification and a credit card or cash deposit are required at check-in for incidental charges.
Special requests are subject to availability upon check-in and may incur additional charges. Special requests cannot be guaranteed.
- Fee for buffet breakfast: EUR 8.50 per person (approximately)
National Rating
This hotel has received its official star rating from the French Tourism Development Agency, ATOUT France.


text:
Its okay,The pink is the best!
Originally Posted by wader2k
Don't fret! The other colors have been reordered. Don't have an ETA yet.
excellent, mr. wader!!! this news is second only to you all offering the mega cartos as a stock line item...i am in (eGo) heaven!!!
all i need is a supply of egos, mega carts and juice...(plus coffee) and i am a happy girl
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Mini Nutella Cheesecake
Mini Nutella Cheesecake Recipe
Makes 24 mini cakes | Prep Time: 30 mins | Bake Time: None
Adapted and modified from Nigella Lawson
Contributor: CP Choong
10 oz graham crackers
5 tablespoons soft unsalted butter
1 x 13 oz jar Nutella (at room temperature)
¾ cup chopped toasted hazelnuts
1 lb cream cheese (at room temperature)
½ cup powdered sugar (sifted)
Whipped Cream
2 x 12 mini cheesecake pans
Break the graham cracker into the bowl of a processor, add the butter and a 15ml tablespoon of Nutella, and blitz until it starts to clump. Add 25g/3 tablespoons of the hazelnuts and continue to pulse until you have a damp, sandy mixture.
Lightly grease the mini cheesecake pan. Scoop a heap tablespoon of the crumbs into each cup, press into the base either using your hands or the back of a spoon. Place in the fridge to chill.
Beat the cream cheese and powdered sugar until smooth and then add the remaining Nutella to the cream cheese mixture, and continue beating until combined.
Take the mini cheesecake pans out of the fridge and carefully smooth the Nutella mixture over the base, about 2/3 full each. Place the pan in the fridge for at least four hours or overnight. Serve straight from the fridge for best results.
Place a dollop of whipped cream on top and garnish with the remaining chopped hazelnuts on top.
Cook's Note:
I used 12 mini Cheesecake Pan, 1.5"/4.5cm deep X 2"/5cm diameter cups. You may use Muffins pan, lined with cupcake casing for easy removal.
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19 comments... read them below or add one
Can you tell me what graham crackers are please
I use digestives biscuits or Marie biscuits
Careful!!! Chopped hazelnuts for a 3 year old are very, very dangerous because the child could choke. Nuts should always be turn into powder.
Do u use an electric hand mixer to make this mini cheesecake?
This beauty… I have made this very same one before and loved it so much (psst: I ate 1/2 of the cheesecake over the span of 1 week). Must make it again in small portions.
It depresses me so much to see you raving Nutella. It has to be one of the single GROSSest products on the market. Nothing but sugar sugar sugar cornsyrup, fake shortening,cornsyrup, chemicals. What is so difficult about making REAL hazelnut paste- grinding toasted hazelnuts to a paste and adding sugar to taste? So much for a healthier next generation……
what's wrong with raving Nutella?not everyone has the time and passion like you to make REAL hazelnut paste. The trick here is to consume it moderately. Then it wouldnt have to be the single GROSSest product you deem so.
To each his own. bleh.
I'm making these for a school project and was wondering if 2 1/2 hours would be enough time for the mini nutella cheescakes to set completely? Also are you able to remove them easily without cupcake liners?
Cheesecake and Nutella?? I know my roommate will love me now :)
Bee, I could only find Honey Graham Crackers at FairPrice, couldn't find any at other supermarkets…
1. Is the honey version ok?
2. If so, do I omit the powdered sugar?
3. Is powdered sugar = icing sugar?
Looking forward to your reply.
hi i want to make this, but i wish you showed actual recipe. i dont know what graham crackeers to use and if i need to mix butter with it. HELP!!!
Let me start by saying that if you follow the above recipe, you will make 24 mini's and 12 regualr sized (muffin trays).
I would also like to say that following and weighing the measurements out EXACTLY, there was hardly enough butter in the graham crackers to form a solid base. After 18hrs of being in the fridge – when I picked them up, the crust crumbled.
Lastly, too much nutella in this recipe. the creamcheese/nutella mixture never got hard when cooled.
Summary: use less Nutella, use MORE butter in the graham crackers (I would even bake them next time), and downsize the entire recipe, unless you're throwing a party!
agree with rose. tried the same receipe out and found that there was enough butter to make the base stay together.. thankfully i have made cheesecake before so i added more butter. however, likewise, I followed the instructions and had way too much Nutella. after leaving in the fridge for more than 6 hours, my cheesecake looked more like a mousse
Today me and a friend made this recipe and it was easy and absolutely delicious, this is probably my favorite dessert now!
I had a problem with the base because the recipe says to use 10 oz of cookies and 5 tablespoons of butter, turned out that it was too much cookies and not so much butter so the base wasn't hard.
Lightly grease the mini cheesecake pan.
What do you nean by grease lightly? Using butter or what?
Plus if use muffin paper cups, will the nutella n cheese stick to it or not?


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Maino - That Could Be Us
Artist: Maino
Producer: Chris Styles
Album: Day After Tomorrow
Avg Rating: 3.6 ( 11 votes )
Jay-Z and Beyoncé, Swizz and Alicia, Barack and Michelle, Maino and… whoever he's talking about on his latest feature. On the latest single off his long-delayed sophomore set, the NYC mainstay points to a few of the most prominent couples in music, politics and pop culture, telling the object of his affections, "This Could Be Us." Will this smooth, Chris Styles-produced cut earn The Day After Tomorrow a solid drop date? Only time will tell, but readers are welcome to debate in the meantime.
Written by richard on 10/18/11
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text: This extraordinary villa from 1920 is located in a prestigious residential neighbourhood of Prague 6, Orechovka. It underwent a significant reconstruction. The villa features a nice large garden with old trees. The ground floor offers 3 living rooms, kitchen with storage room, terrace with a winter garden, bathroom, 2 toilets and 2 technical rooms, wardrobes. Two other floors are designed as separate apartments units with 3 bedrooms, kitchen and bathroom (one of them has as well a gallery). In the basement there is a technical base for the whole house and other apartment unit. When reconstructing quality materials were used, and all the important architectural features were kept and combined with modern or antique furnishings.


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Negligent Dental Care
Private dentistry is not accessible to everybody. For some, relying on the NHS is key to maintaining their dental health. Read more
Expert Solicitors, Specialists in Clinical Negligence, Personal Injury, Business Law, Commercial & Residential Property, and Wills, Trusts & Probate.
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We specialise in personal injury & clinical negligence claims, providing clients with the expertise and support you require to complete your compensation claims.Start your claim now
Private dentistry is not accessible to everybody. For some, relying on the NHS is key to maintaining their dental health. Read more
It has been revealed in a universal-first that thousands of hospital deaths will be investigated in the hope that more can be avoided. Read more
The Royal College of Surgeons has suggested that doctors should not be allowed to perform cosmetic surgery that isn't already in their specialist range. Read more


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March 12, 2015, 05:27 pm
Graham hires first Iowa staffer
By Ben Kamisar
A former chief of staff for Rep. Steve King is joining Graham's exploratory committee.
March 12, 2015, 05:27 pm
By Ben Kamisar
A former chief of staff for Rep. Steve King is joining Graham's exploratory committee.
March 12, 2015, 12:27 pm
The super-PAC allows a future campaign to solicit huge contributions from major donors.
March 12, 2015, 12:19 pm
By Ben Kamisar
She is hiring Jesse Ferguson and others to improve her relationship with the press.
March 12, 2015, 10:24 am
By Mark Hensch
Rachel Kania is the second former Cruz staffer to join the Kentucky Republican.
March 12, 2015, 09:49 am
Former Texas governor focused on foreign policy over economics in a campaign-style speech.
March 12, 2015, 08:36 am
By David McCabe
O'Malley said Clinton is "perfectly capable" of defending her service.
March 11, 2015, 05:54 pm
Two committees are now in the midst of investigating her decision to use a private server.
Mario Trujillo 03/11/15 11:04 AM EDT
The former governor said personal and public email in Maryland is subject to disclosure.
March 10, 2015, 06:38 pm
By Jonathan Easley
Potential candidates are either signing the letter or supporting it.
March 10, 2015, 05:23 pm
By David McCabe
Both Republicans and Democrats addressed the International Association of Fire Fighters.
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Ocean Park Inn
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Pilgrim's, Jaws and home
From Conway we drove to Sandwich stopping at a very nice Motel. We spent most of the evening in the swimming pool, the hot tub and the Sauna. A big group on a coach trip arrived and their rooms overlooked the pool. We kept waving at them but they got too embarrassed.
From there we got the ferry over to Martha's vineyard, a well known tourist area and mainly populated during the summer. 16000 ...
Ferry to Martha's Vineyard
... homes of whaling captains of old and celebrities of today, including a favorite author, David McCullough. When we returned to Oak Bluffs, we browsed for a while and just enjoyed the scenery and some people-watching while waiting for the ferry departure time.
Plymouth, "America's Home Town," and Old Cape Cod
... route to Provincetown on Cape Cod, Mary played "Old Cape Cod" by Patti Page---an oldie, for sure, but timely. Our surroundings were greener than before, a change from the bright foliage colors we had been seeing. We had lunch in town with friends at a little out-of-the-way place called Lunch Box. After a bit of exploring, we were back on the bus and heading southeast again to Hyannis, where we would spend ...
While on Cape Cod--Part 1
... Martha's Vineyard. I have always heard of this place, and it was nice to finally see it. The ferry arrived on the island at 10:15 and we had all day to explore Oak Bluffs. Shops and eateries everywhere, old houses and buildings too. One very interesting and colorful area was the Martha's Vineyard Camp Meeting Assoc. The MVCMA is a non-profit private foundation, created in 1835, to conduct religious meetings on ...
Cape Cod, Massachusetts
... sand drops 7 ft. Then in the spring, it's all re-deposited by 9 ft waves, the tides and SE winds. Amazing!
On Apr 10/10 these shifting sands exposed an old warship that sank in 1778 near Provincetown. The British HMS Somerset III was the ship that Paul Revere eluded before riding to warn American patriots that the British were coming.
Marconi Wireless site - It's from this bleak eastern shore that Guglielmo Marconi broadcast ...


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How Do I Get A Prescription For Lamivudine
Here's a taste of what TheBody.com has to offer on this topic:
Get the Facts
An Overview of Epivir (3TC, Lamivudine)...or groin; and unusually warm skin. Individuals should tell a doctor if these side effects continue or are bothersome. Drug and Food Interactions A doctor should be notified of any other medications being taken, including prescription, nonprescription (over-the-counter), and herbal medications. Clinical Trials Click here to search ClinicalTrials.gov for trials that use Lamivudine. Manufacturer Information Epivir GlaxoSmithKline...
Ask the Experts
lamivudine once a day ?My friend decided to change his regime (combivir + viramune two times a day) to new meds once a day (also because of anemia and beginning of lipoatrophy after two years of combivir). We asked for Truvada + stocrin (once a day). Now he got the...
Response from Benjamin Young, M.D., Ph.D.
Rocky Mountain CARES...Thanks for your post.Lamivudine (3TC, Epivir) can be taken 300 mg once-a-day, or 150 mg twice-a-day. You're friend's prescription for lamivudine 300 mg once Read more »
PEP Combination (day 1)Corrections from last post:Hi there doctors,thank you once again for providing great advice about the treatments for HIV. I am currently on PEP (day 1) which consists of Viread (Tenofovir), Epivir (Lamivudine) and Zidovudine (Retrovir). I was...
Response from Benjamin Young, M.D., Ph.D.
Rocky Mountain CARES...for your post and words.This is a somewhat unusual PEP regimen-- most would utilize either a 2 NRTI regimen (like zidovudine+lamivudine or tenofovir+lamivudine), rather than a triple nuke regimen.Generally, PEP regimens that include zidovudine... Read more »
please comment HBVDear doctor:50 yrs old male; hbs ag positive,hbs ab <3.0 miu/ml,hbe ag negative, hbe ab positive, hbv dna (pcr) 13,700 copies/ml, alt 36, and ast 22. My family doctor didn't illustrate much to me about my illness and only gave prescription...
Response from Barbara McGovern, M.D.
Tufts University School of Medicine...treatment to see how much inflammation and scarring there is. Your liver function tests are normal so your chance of responding to lamivudine is lower than a patient who has abnormal liver function tests. If there is not a lot of disease, I like... Read more »
Good Prescription?I have been HIV positive for 1 year with no complications or resisitance. My Doctor here in thailand just prescribed me 4 pills to take every night.1 300mg Viread + 1 600mg stocrin (efavirnz) + 2 150mg Lamivudine (lamivir). Is this a good...
Response from Benjamin Young, M.D., Ph.D.
Rocky Mountain CARESThanks for your post.This is an excellent and highly recommended first-line treatment combination. A very similar coformulated medication, Atripla is used here in the US. Generally side effects are mild, and are related to the efavirenz component... Read more »
Lamivudine (Epivir)... What Is Lamivudine? Who Should Take Lamivudine? What About Drug Resistance? How Is Lamivudine Taken? What Are the Side Effects? How Does Read more »
An Overview of Combivir (AZT/3TC)...side effects continue or are bothersome. Drug and Food Interactions A doctor should be notified of any other medications, prescription, nonprescription (over-the-counter), or herbal medications, also being taken. Clinical Trials Click ... Read more »
An Overview of Epzicom (Abacavir/3TC, Kivexa)... a-BAK-a-veer, la-MI-vyoo-deen --> Brand Name: Epzicom Other Name(s): Abacavir sulfate/Lamivudine, Abacavir/ Lamivudina Drug Class: Nucleoside Reverse Transcriptase Inhibitors Epzicom is a combination of two antiretroviral Read more »
An Overview of Trizivir (AZT/3TC/Abacavir)...nausea, vomiting, stomach pain, sore throat, shortness of breath, cough, or general ill feeling. These symptoms are listed on the prescription's warning card, which the individual should carry. If a doctor suspects an allergic reaction, the... Read more »
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Posted by kim_b, 1 Reply...Recently, my pharmacist has bben filling my prescriptions at a discounted price....this seems wonderful considering how expensive my HMO is regarding these meds. However, I never paid Read more »
unprotected sex----ECLIA test
Posted by haohaode, 1 Reply...4 February, i had unprotected vaginal sex with a thai sex worker for less than two minutes. within 24 hours i took Kaletra, lamivudine and zidovudine for 28 days. on 30 March(8 weeks later), this woman had ECLIA/ Roche Diagnostics test with... Read more »
Posted by Anonymous, 10 RepliesHOLA,ME LLAMO CARLOS Y VIVO EN ESPAA {ISLAS CANARIAS}. ME GUSTARIA CONOCER GENTE POSITIVA,PARA HABLAR DE NUESTRO PROBLEMA,DE LAS PASTILLAS Y DE TODO UN POCO. CUANDO ME DIJERON QUE ERA +,HACE 8 MESES NO ME LO PUDE CREER,LA VERDAD ES QUE SUFRI... Read more »
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The Beautiful Game From the Aztecs to the World Cup : the Complete History of How Soccer Shaped Latin America
"The definitive book about the national identities, heroes, and dramatic stories from Latin American soccer throughout history-in time for the 2014 World Cup. "Golazo!" means "amazing goal!" And the word perfectly captures the unique, exuberant, all-encompassing, passionate role that soccer plays in Latin America. Andreas Campomar offers readers the definitive history of Latin American soccer from the early, deadly MesoAmerican ballgames to the multi-billion dollar international business it is today. Golazo! explores the intersection of soccer, politics, economics, high and low culture, and how passion for a game captured a continent. Latin American soccer will be in the global spotlight more than ever in the coming years-both the next World Cup (2014) and the Summer Olympics (2016) will be hosted in Rio de Janeiro in Brazil, a country for which soccer is not just a passion but a way of life. The triumphs, the heartbreaks, the origins and the future, the political and the personal-Golazo! is the perfect book for new fans and diehard followers around the world"-- Provided by publisher.
Publisher: New York :, Riverhead Books,, [2014]
Edition: First Riverhead trade paperback edition
Branch Call Number: 796.33409 C1983g 2014
Characteristics: xii, 483 pages, 8 unnumbered pages of plates :,illustrations ;,21 cm
Alternate Title: Complete history of how soccer shaped Latin America
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Iverson, Bernhagen capture Valley titles
Bill Iverson came from in back to win the Valley Golf Men's Club championship by four strokes over Grant Kallevig on Sunday in Willmar.
Jenna Bernhagen won the Women's Club championship on Saturday.
A full report will appear in Tuesday's paper.
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Clarion Hotel Faria Lima
Rua Jeronimo da Veiga 248
Sao Paulo, 04536-001
Phone: (55) 11 2197-7550
Fax: (55) 11 2197-7551
Entertainment Venues
»Mozarteum Brasileiro
Mozarteum Brasileiro is a premier concert hall in Sao Paulo. It plays host to an array of cultural events including classical music as well as contemporary concerts and educational activities. Host to established artists as well as upcoming local acts, the venue offers a good mix of events throughout the year. An excellent place to check out the local music scene.
»Teatro Décio de Almeida Prado
This gem of a theater with its own garden, is owned by the city and is a musical spot with regular jazz and blues performances. Despite its quaint look and good programs, Teatro Décio de Almeida Prado is not widely known as it is not publicized well. Visit this theater when in town and check out the schedules for anything that interests you.
Kinoplex is part of a chain of multiplex cinema halls in Brazil. It is located in the plush neighborhood Itiam Bibi and showcases the latest movies. This venue is a popular entertainment destination for local movie buffs and tourists alike. For the movie schedule and ticket booking, do have a look at their website.
»Cultura Artística Itaim
Tucked away in between IT businesses and other firms, this theater is known to those who are in the know. Cultura Artística Itaim is an intimate performance venue and is equipped with modern acoustics. Used for concerts, musicals and plays, the theater features comfy seating and great facilities for an enjoyable experience. With a packed schedule of events throughout the year, Cultura Artística Itaim is an important house of culture in the region.
»Via Funchal
Another post-modern piece of architecture, the Via Funchal is a monstrous space, taking its cue from some of the large arenas in the U.S. and Europe. The arena contains state-of-the-art technology and illumination complete with a seating capacity of more than 6000 people. Anyone who is anyone in the music biz has set foot in the Via Funchal, famous artists such as, R.E.M, Charles Aznavour and Bob Dylan are just a few. And with such modernity and versatility, the place also holds events and other functions both public and private, a definite place to go and see a show.
»Hebraica São Paulo
With an intention of preserving the Jewish identity in São Paulo, the Hebraica São Paulo is used as a meeting space for the community. Hebraica also hosts several cultural and educational events apart from the sporting events to promote cultural unity and bonding among its members. The grounds of Hebraica house two beautiful theaters which stage plays by amateur and well known play writes. Besides, it also has eight gymnasiums, several tennis courts, fitness centers, race tracks, a spa, several restaurants and spas as also a synagogue within it. With such state-of-the-art facilities and a noble mission ahead, visiting these grounds on your tour to the city might simply bring more meaning to your life.
If you are a fan of Brazilian country music then Wood's will only delight you, if not just visit the nightclub and experience the euphoria created by local bands and grove to their tunes as part of a cultural experience. The ambiance at Wood's is always great, the place is flooded with interesting people and you can always bond with each over the love for music or drinks. You are advised to arrive here well before time as the club is very popular in the local circuit and tends to draw large numbers of crowd.
»Cidade Jardim Hippodrome
The Hipódromo de Cidade Jardim is located in the neighborhood of the same name. This racing hippodrome was established in 1941 and features four lanes in a closed loop. Two lanes are used for races, with a few training lanes as well as grass areas. It hosts equestrian events of the Jockey Club of São Paulo that are scheduled on Saturdays, Sundays and Mondays. With free admission, ample parking, and a bar and restaurant on site, it attracts a large number of visitors. Children can use the playground as well as enjoy a pony ride.
»Teatro Procópio Ferreira
Established in 1948, Teatro Procópio Ferreira is one of the cultural spots that the locals love going. Offering a range of shows that appeal to all ages, the theater has undergone many changes, not only in terms of structure but in its programs as well. Revamped with modern technology, it is home to musicals, dramas and children's theater.
»SESC Pinheiros
SESC Pinheiros is a huge sport and cultural center that is the perfect venue for a wide variety of events.It comprises a theater, auditorium, exhibition space and several other smaller halls for workshops and other events. Besides this, SESC Pinheiros also has a recreational facilities for one and all. Check website for further details.
»Ginásio do Ibirapuera
Also known as the Geraldo José de Almeida, the Ginásio do Ibirapuera is a modern state facilty in the heart of Sao Paulo. Home to some of the biggest sporting meets in the city, this venue is often considered as one of the most sophisticated facilities around. A large arena doubles up as a tennis court, a basketball court as well as an ice-hockey rink. Over the years, this stadium has played host to international events like the Gymnastics World Cup, the World Skateboarding Championships, the Brazilian Para Olympic Games and the International Tennis Championships. It also hosts concerts and had Cyndi Lauper and Metallica perform here in the past.
»Ibirapuera Auditorium
Located in Ibirapuera Park, this futuristic edifice created by famed Brazilian architect Oscar Niemayer hosts all types of musical shows and concerts. The building is typical Niemayer, wide and exposed with idiosyncratic lines throughout; the entrance is marked with a large, red metal structure that exits violently through the slanted roof. Here in São Paulo it is called the Labareda, which means "flame" or "flare," and like many other works by Niemayer, they are usually either received fervently or detested. Inside the auditorium, the wide space for the stage on the first floor provides amazing acoustics and it has a capacity of about 800. In addition to the glorious stage, the auditorium provides a platform for the next best musicians between the ages nine and 18.


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This lecture is being organised by the Aerodynamics Group.
This follow on workshop from September 2014 will facilitate UK civil and military operators, regulators, academia and industry to provide comment and input in EUROCAE WG73 responsible for development of RPAS DAA regulations.
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Talk on British involvement in Space
During the past 70 years, the development of surveillance radar has naturally been focused on engineering improvement in the radar itself, based on the approach pioneered in the 1940s. However, in the last 15 years, a number of authorities have found a deficit in the rate of fundamental advance in radar applications.
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Minding the gap: Flight control in complex environments
The Supervision of Air Displays in the UK - Roger Beazley
Queensland Branch
The ESC invites interested parties to join the Royal Aeronautical Society's second Education and Skills Seminar taking place on Monday 23 March 2015 at RAeS HQ. This seminar will discuss the pre-election skills landscape with Jenny Body, Chair of the Education and Skills Committee at the Royal Aeronautical Society, providing an update on the Society's current actions in this field.
The J D North Lecture
Subject The Bell AW609 tilt rotor and the Bell 625 Relentless control systems
Yeovil Branch
RAeS Stevenage Branch Lecture on 'Young Person's Lecture Competition' with various young lecturers.
Coventry Branch
Hatfield Branch
This talk will commence with a brief intro of the speaker and a review of the aircraft history.
The speaker will then cover the initial cadre, through the acceptance of ZM400 last year to where we are, with a reasonable look at the future, because there is a long and challenging road ahead, well into 2020.
The Lecture is free for all
The Chadwick Dinner will follow the lecture. To register for the Dinner please send a cheque for £30.00 made out to the RAeS Manchester Branch to our Treasu
Head up Displays have advanced greatly since they were introduced in the 1960's. The talk will cover the latest thinking on these systems which are essential for modern, particularly military, aircraft.
Cardiff Branch Ernest Willows Annual Lecture
This lecture will be given by Andrea Accomazzo, Rosetta Flight Director at the European Space Agency (please note that the speaker has changed and is no longer Paolo Ferri, Head of the Mission Operations Department, European Space Operations Centre, European Space Agency).
The Future of Airships.
Farnborough branch
Joint meeting with ImechE & University of Surrey
Visitors welcome: admission £2 (RAeS members and students free)
19:00 for 19:30
Joint Lecture with IMechE
Oxford Branch
Sheffield Branch
This lecture will follow Day 1 of the Flight Operations Group (FOG) Conference. The lecture will be given by Dr Kathy Abbott FRAeS, Chief Scientific and Technical Scientific Advisor, Flight Deck Human Factors, from the Federal Aviation Administration. More details will follow soon.
This conference will examine the role of the flight operations manager. Leading airlines from around the world will present their best practices and advice.
Gliding and soaring have held a mutual relationship with mainstream aviation developments ever since the experiments of Sir George Cayley in 1852, through to the birth of modern aviation in the 1900's and to the present day.
Branch Lecture
Bristol Branch
Heathrow Branch
Annual Lecture Competition
Brough Branch
Chester Branch
Sir Freddy Page Lecture
Preston Branch
Bedford Branch
Solent Branch
Solent Branch: Professor Richard Holdaway, CBE, FREng
F-35 Lightning II – A Fifth Generation Fighter
This lecture held in partnership with the IET and IMechE will consider the growth and multiple applications of non-military RPAS's.
Southend Branch
Loughborough branch
The Battle of Britain - by Chris Wren, Battle of Britain Bunker, RAF UXbridge
An overview of current acquisition trends in the aerospace and defence sector.
Prestwick Branch
Following the success of our Autumn recruitment fair in recent years, the Royal Aeronautical Society is launching a NEW Spring event, Career FLIGHTPATH LIVE, which will debut on Friday 6 March 2015 at the Society's beautiful headquarters building in Mayfair, London.
This lecture will be given by Wg Cdr Graeme Maidment, Head Of Aviation Pathology Department, Royal Air Force Centre of Aviation Medicine.
UAE Branch
This conference is being organised by the Aerospace Medicine Group and will examine the issues pertaining to a variety of sport and recreational activities involving flying.
'Skynet Satellite Operations' by Pete Kirkpatrick.
A joint event with the RIN, incorporating the annual RIN Anderson Memorial Lecture
Talk on aviation and defence photography by Zaid Meherali, President of Basingstoke Camera Club
Each participant will present a 15 minute presentation on any Aerospace topic of their choice.
The prize for the winner of the competition will be £150 along with entry into the International NE ROWE Competition!
It will allow great recognition and would also tick a box for CEng competencies.
Trevor Pritchard
Director Public Affairs. Vector Aerospace.
At this conference the speakers will give their perspective on what is being done to raise security standards without causing more burdens for airports, operators, passengers and traders. If growth occurs both criteria must be met.
Farnborough branch
Visitors welcome: admission £2 (RAeS members and students free)
Joe Morrall Award Lectures
Branch Young Members
Birmingham, Wolverhampton & Cosford Branch
The Trenchard Lectures in Air Power Studies explore a variety of air power related topics ranging from historical themes to contemporary issues.
Medway Branch
18th February 2015
Lecture by Captain Rod Grainger and Andy Shaw Senior Police Pilots of Greater Manchester Police.
Wednesday 18th February 7pm in Room B2 at the Newton Building , University of Salford.
This talk will overview the National Police Air Service (NPAS) locations etc and then concentrate on NPAS Barton and the various roles and types of jobs with videos to show each role, ie offender searches and vehicle pursuits.
Group Captain Pete Cracroft, Station Commander, RAF Valley talks about fast jet training in the Royal Air Force and his experience as a fast jet pilot.
Arrivals between 18:30 - 19:00 with talk commencing at 19:00.
History of the Rolls-Royce RB211 Jet Engine.
19:00 for 19:30
Seattle Branch
Toulouse Branch - Rolls-Royce Mini-Lecture Competition - followed by Speaker from Rolls-Royce.
The General Aviation Group will be holding their first lecture of 2015 on Tuesday 17 February. The talk will be given by Keith Dennison FRAeS, Chief Test Pilot, e-Go Aeroplanes.
This lecture will be given by Martin Agnew, R&T and Innovations Coordinator at Airbus Defence and Space.
A briefing on the outlook for the global aerospace and defence industry.
Preston Branch
Highland Branch
Gatwick branch Visitors welcome: admission £2 (RAeS members and students free)
Solent Branch
"The History of Brimstone"
This lecture will cover the history of the Harrier from first concept to development and the service life of the aircraft, up to and including its participation in the Falklands War in 1982.
Join the Royal Aeronautical Society on 5 February as Dennis Scott will highlight some significant cultural and operational differences between China SOEs' and Western thinking, and explain how this is a major barrier to the undertaking of highly integrated projects such as commercial aircraft development in China. This lecture is held in conjunction with UKTI and ADS.
Cambridge Branch
'Test Flying the Eurofighter Typhoon' by Stuart Reed.
The lifeboat will be built at the All-Weather Lifeboat Centre in Poole and will go into service in Swanage.
The Whittle Lecture: a Joint event with IMechE and IET
IoW Branch
This lecture has been postponed until a later date. Please re-visit the Events webpage for the new date and further information.
Christchurch Branch
Hamburg Branch
Cardiff Branch
Loughborough Branch
Taking examples from the Tiger, X3 and unmanned helicopter programs Andrew Warner will describe the most significant risks in helicopter flight test and operation and how to tackle them effectively and with the right priorities.
Manchester Branch
Monday 19th,January,2015,
8PM at the ConcordeRestaurant
The Runway Visitor Park,WA15 8XQ
As a result of the Soviet threat leading to the cold war the Air Ministry issued spec B35/36 which called for a 10 000lb four engine jet able to cruise at 50 000ft at 500kt with an operational radius of 500 miles combined with a take off distance of 1500 ft in a cross wind od 20kt in tropical conditions!
Why did the AVRO designers opt for such a r
A briefing by the Rt Hon Geoff Hoon on sovereign capability v buying off the shelf.
Dale Tutt, the Scorpion Programme Manager, and Dan Hinson, the Chief Test Pilot, relate the story of the Textron AirLand Scorpion from a clean sheet design to the first flight of the Scorpion in less than 2 years.
Derby Branch
Farnborough Branch
RAeS Stevenage Branch Lecture on 'Enforcer Weapon System'
UK military forces are guided in their actions by UK Defence Doctrine. This body of fundamental principles has evolved over time using lessons from history and the experiences of operations and exercises. Focusing on air and space power doctrine, the lecture will look at its foundations, purpose, strengths, weaknesses and core roles. It will also suggest how it might change in the future.
Gatwick Branch
Annual quiz evening
Inmarsat are unable to give their lecture on the 16th December, and David Cook, Independent Consultant and Journalist President of the RAeS Paris Branch, has kindly agreed to step in on Wednesday the 17th December to give a lecture about the use of composite materials in aircraft engines.
Established to honour the successful and experienced mechanical engineers who completed the first successful controlled powered flight on 17 December 1903, the Wilbur & Orville Wright Lecture is the principal event in the Society's year, given by distinguished members of the US and UK aerospace communities. The 2014 Lecture will be given by Patrick M Dewar, Executive Vice President, Lockheed Martin International, who will speak on 'Global Growth in Aviation's Second Century'.
Brough Branch - Joint Lecture with IMechE
55 years of flying fun -
Clive Rustin
Farnborough branch
"Puma HC Mk2 – Life Extension Programme – A Flight Test View"
Adrian Neve, Jon Hughes and Dave Marsden
Melbourne Branch
Stevenage Branch
Defence Academy & Swindon Branch
Montreal Branch
This lecture, presented by Matthew Sexton of Messier-Bugatti-Dowty, part of the Safran Group, is subtitled 'What goes up must come down'. Matthew aims to show the development of aircraft landing gear from their early beginnings to current times. He will illustrate how landing gear have kept pace with developments in aircraft design and will provide a glimpse of what the future might hold.
Matthew Sexton was educated at Southampton University and gained a BSc in Aeronautics and Astronautics fo
Dublin Branch
An Overview of Hybrid Aircraft and the Airlander - Combining the Best of Aerodynamic and Aerostatic Lift
Cranwell Branch
The RAeS is excited to bring you the Aero 'Pub' Quiz 2014 - the perfect opportunity to relax and have a laugh with friends and colleagues, whilst showing off your general and aero knowledge! Start recruiting your team or come as an individual - no need to be a member, everyone is welcome!
Adventures of an Aerospace Journalist
Isle of Wight Branch
This Flight Test Lecture will be delivered by Peter Kosogorin, Project Test Pilot, Military Air Information and Information, BAE Systems.
Weybridge Branch
Dame DeAnne will give her assessment of Britain's current economic situation: is the recovery sustainable or is it just a temporary bounceback from the recession, propped up by unnaturally low interest rates and threatened by the outcome of the Scottish referendum, the election next May and the possible vote in 2017 on leaving the EU?
Boscombe Down Branch
This lecture is being organised by the RAeS Space Group.
Join us for the 2014 Young Persons Lecture and Medals & Awards Evening. Steve Fenwick, Head of Full Size Car CFD, Lotus F1 will be giving the lecture following the presentation of the Young Persons' Medals & Awards.
The 2014 Women in Aviation and Aerospace conference will focus on professional development and mentoring.
'Airbus A400M Flight Test Programme'
Anthony Flynn – Test Pilot, Airbus Defence & Space
The Derby Branch of the Royal Aeronautical Society is pleased to announce a new and additional lecture to our previously publicised lecture programme for 2014/15. NASA Glenn Research Center Director, James Free, will be visiting Rolls-Royce Derby on Thursday 20th November and has kindly agreed to present an evening lecture to the Branch on the history of research at the Glenn Facility. Please see attached further details and poster for the lecture.
There is no pre-registration for this event
This Named Lecture honours Major Kenneth Beaumont CBE, DSO, MA (Oxon), AFRAeS. Beaumont was the UK's most prominent name in air law in his age, after starting as technical advisor to Imperial Airways in the mid-1920s. For many years his firm, Beaumont and Son, was one of the leading aviation practices in the world. He was also a founding editor of Shawcross and Beaumont on Air Law, which was first published in 1945 and remains the leading textbook to this day.
Farnborough branch
Air Marshall Cliff Spink will describe his experiences when flying veteran aircraft including Supermarine Spitfires and Mescherschmidt ME109 fighters.
Belgian Air Force Operations in Libya
In late 1945 the Royal Aircraft Establishment hosted displays of German and British aircraft and equipment. It was the first opportunity that many people had to see - in detail and up close - a wide range of aircraft that until recently had been either closely guarded, or cause for alarm.
This year important changes are happening which will have a direct effect on light aircraft design in the UK. The CAA has launched its new General Aviation Unit. The ambitious plans for the new Unit will be presented. Also the collaboration between the RAeS GA Group and the CAA to create new regulations covering proof-of-concept experimental flying is coming to fruition and will be explained.
Now in its 7th year, the RAeS Aerospace & Aviation Book Fair offers a great opportunity for both aviation enthusiasts and those with a general interest to come, browse and buy from a wide selection of aviation books and publications from a fantastic range of industry publishers.
The objectives of this conference are to examine the recent advances made in the design and use of this class of devices and to identify specific areas of simulation design and data provisioning that requires future enhancement so that further training capabilities and fidelity can be realised.
Capt Richard De Crespigny discusses his experiences at this HQ lecture.
This joint lecture in collaboration with the IMechE will cover the early development of the engine from 1960 to 1980 and reveal for the first time the full technical story behind the company going into receivership.
Careers in Aerospace LIVE is the only UK recruitment fair dedicated to aerospace and aviation and unites the Society's close links with industry and those seeking employment in aerospace and aviation. This is a unique opportunity to meet potential employers at the only UK recruitment fair dedicated to the aerospace and aviation community. Exhibitors from across the industry are available to answer your questions and give you information on their recruitment opportunities.
The focus of this year's event is on Air Safety over recent years, key trends in technology and flight operations that are likely to drive the future aerospace industry.
Defence Academy & Swindon Branch
The new CEO of Heathrow, John Holland-Kaye, will deliver the 2014 Brabazon Lecture. The Brabazon Lecture is held in honour of Lord Brabazon of Tara. Born in London on 8 February 1884, J.T.C. Moore-Brabazon became one of British aviation's true pioneers and, in his political career played an important role in the planning of civil aviation for the years following WW2.
Singapore Branch
Apache Ops in Afghanistan by Maj Simon Wilsey, OC 664 Sqn AAC
This conference aims to bring together the global research aircraft operating community to share lessons and capabilities, as well as future plans for both campaigns and facility improvements. This conference is aimed at all participants in the planning, management and execution of airborne research programmes, both manned and unmanned, and both scientifically and aeronautically oriented.
The Safety Management Symposium aims to provide a series of presentations from various organisations to explain, using relevant examples, the challenges they face when managing complex safety systems.
The Airworthiness & Maintenance Group will be holding a half day workshop on Thursday 30 October and will focus on the growing trend towards Hourly Usage Agreements between aircraft operators and service providers.
This conference aims to explore the current and future capabilities of platforms and weapon systems. This event is classified and open to UK nationals only.
"Antarctic Helicopter Operations"
Lt Cdr Lee Evans
This lecture will be given by Dr Volker Damann, Head of the Space Medicine Office at the European Space Agency.
Following on from two previous related events, the aim of this workshop will be to initiate a process that delivers an industry-wide approach towards achieving Maintenance Credits and will focus on two areas in particular:
• Data interoperability standards
• Early engagement with regulatory bodies when introducing new IVHM technologies
Related areas including the process of achieving maintenance credits, the required evidence base and regulatory hurdles will also be considered.
Cyprus Branch
Jet Age Museum
Meteor Park, Cheltenham Road East,
Gloucester. GL2 9QL
18:30 for Museum 19:30 for Lecture
The aim of this conference is to assess how aviation's impact on the environment can be reduced. The latest low carbon propulsion and fuel options for aviation will be reviewed and key questions will be addressed.
Sir Peter will draw on his experience of the 2010 SDSR and of the development and publication of the 2012 White Paper, "National Security Through Technology" as well as his involvement In the Defence Growth Partnership, to reflect on what industry should expect – and seek – in the 2015 SDSR.
The development and engineering behind Project Bloodhound
'A year with the Red Arrows'
Wing Commander Ross Priday - Previously Senior Engineering Officer, Red Arrows
"Henry's War"
David Owens will describe how Airbus is training flight crews for resilience.
28th Sir Henry Tizard Event
"F-35 Flight Testing"
Wg Cdr Jim Schofield
Ticketed Event Only
Allan Robb will explain some of the innovative ways that have enabled NATS to deliver tangible improvements to safety, capacity, value and environmental impact of Air Traffic Control. These will include deploying systems that provide more strategic control of aircraft which will eventually move to the point where an aircraft has a four-dimensional clearance from take-off to landing, how they are helping aircraft reduce their CO2 output and what they are doing to mitigate the effect of wind farm
The Conference will examine future opportunities and challenges, novel and contentious solutions, and the potential benefits of pushing the boundaries further. It will ask questions and seek solutions.
The 4th Aircraft Structural Design Conference is hosted by Queen's University Belfast which is internationally recognised as a leading university devoted to teaching and research in engineering with particular expertise in aeronautical engineering. Please visit www.aerosociety.com for more information on the venue and host city.
I Used to be an RAeS Branch Chairman – So What Happened Next ? by Gp Capt Andy Tait
The Cierva Lecture is named after Juan de la Cierva, FRAeS, an aeronautical engineer who pioneered rotary flight. In 1926 with the backing of the Weir brothers he formed the Cierva Autogiro Company and it was his development of rotor blade design and articulated rotor blades, which played a major role in the first successful helicopter in 1936.
The need to attract, inspire, recruit and train new staff on a sustainable basis has long been recognised by the aviation and aerospace sectors. New opportunities and pathways are now becoming available that will enable the industry to start filling the "skills gap". The Society's second annual Education and Skills Conference will look at how various organisations and industry partners are working together to address skills needs for the aerospace and aviation sector, from engaging with and trai
This workshop will bring RPAS civil, government and military operators, regulators, RPAS manufacturers and technology developers together to better understand and discuss the "detect and avoid" challenge.
Belfast Branch
The Brussels Branch of the Royal Aeronautical Society invites you to attend a talk by Major General Albert Husniaux, NATO's Chief Scientist, at EUROCONTROL's Headquarters on 23 September 2014 at 18h00.
This lecture honours Capt Ray Jones, one of the Flight Simulation Groups founding members and celebrates his contribution to the development of the group, the advancement in the art and science of flight simulation and in particular application in the training of civil airline pilots.
This event is fully booked and a waiting list is being held in case of cancellations.
The 2014 Conference on Tuesday 23, Wednesday 24 and Thursday 25 September at the Society's Headquarters in London will examine the work undertaken by the International Pilot Training Consortium (IPTC) and seek to determine what further work is required and under what auspices it should be conducted
This event has been CANCELLED.
Glouc & Chelt Branch
Professor Frédéric DEHAIS will describe the research on pilot behaviour carried out in the university ISAE-SUPAERO using their own built flight simulator and neurological measuring equipment.
Lincoln WWI Aviation Engineering by Peter Robinson
This penultimate lecture of 2014 explores the story of how cutaways started over a hundred years ago and how the cutaway artwork evolved into the cutaway of today.
Cambridge Branch
Farnborough Branch
The Airlander combines the best of aeroplanes, helicopters, hovercraft and airship design to produce the largest, and one of the greenest and most innovative aircraft presently available.
The European Rotorcraft Forum (ERF) is one of the premier events in the rotorcraft
community's calendar, bringing together manufacturers, research centres, academia,
operators and regulatory agencies to discuss advances in research, development, design,
manufacturing, testing and operation of rotorcraft.
The Lanchester Lecture was set up to honour Frederick William Lanchester, HonFRAeS, Britain's first great aerodynamicist. He is best known for designing and building the first British petrol driven four wheeled motor car (in 1895) and for his work on the theory of fl ight and design of aircraft. Lanchester's work on stability was fundamental to aviation and he formulated the first comprehensive theory of lift and drag.
The 2014 Royal Aeronautical Society Biennial Applied Aerodynamics Research Conference will provide a forum for the presentation and discussion of aspects of the advanced aero concepts, design and operations, covering both the research and the applications.
This event will bring a panel of senior figures working in aviation together to discuss diversity in the industry, with a particular focus on the role of women and the challenges they face developing their career.
A popular and glamorous reception at the Society's outstanding Mayfair venue taking place during the Farnborough Air Show week. Please note, attendance at this event is strictly by invitation.
RAF Cranwel
This RAeS Named Lecture was established in 1990 to honour Sir Thomas Sopwith CBE, Hon FRAeS. In the years prior to World War I, Sopwith became England's premier aviator and established the first authoritative test pilot school in the world. He also founded England's first major flight school. Between 1912 and 1920 Sopwith's Company produced over 16,000 aircraft of 60 types.
This conference will focus on automation in modern complex helicopters engaged in offshore operations world-wide, and the underlying design, operational and training issues. The Royal Aeronautical Society, as an independent body with a wide spectrum of aeronautical disciplines is uniquely placed to bring interested parties together to discuss and influence ways in which helicopter design, operation and training can be further improved to increase operational effectiveness, while raising the bar
The Air Law Annual Summer Reception will take place on Wednesday 2nd July 2014. Tickets cost £30.00 + VAT.
By July 2015 all EU traders must sign up to consumer ADR systems to handle consumer complaints. A pan-EU framework of consumer ADR entities is being created. There are major implications for all business sectors over choice and design of new frameworks, and ADR entities and ombudsmen.
Inaugural Gerhard Sedlmayr Lecture to honour the achievements of this German aviation pioneer (1891-1952). He dedicated his life to the design and manufacture of aircraft safety equipmant -
Hamburg Branch
A perspective on the new DE&S entity, implementation plans and how industry might be affected.
Toulouse Branch - Informal Annual Dinner held at Chateau de Larroque 40 km West of Toulouse airport - www.ChateauLarroque.fr
Cranfield Branch
Autonomous Unmanned Air Systems in Civil Airspace
Book launch of "From Lysander to Lightning: Teddy Petter, Aircraft Designer" to be hosted by the Yeovil Branch of the Royal Aeronautical Society.
An enjoyable day out for golfers of all levels, the Royal Aeronautical Society Golf Day is ideal for networking in a relaxed and informal setting.
Branch lecture: Unmanned Cargo Resupply - Dream or Reality?
This lecture is being organised by the Space Specialist Group.
History of the Hawk (1st flight 40th anniversary)
A perspective from BALPA on managing the future pilot shortage.
Remotely pilot aircraft are still not yet a feature of everyday life however the numbers in use is growing rapidly and the range of operations that they support is increasing. This conference will provide an essential understanding of the factors which are supporting the proliferation of civil use as well as providing clear insights into the regulatory and other constraints in place to ensure public safety and privacy.
This lecture by the Historical Group will cover the introduction of the jet aircraft into RAF service, the challenges and the significant contribution made by Sir Frank Whittle.
The Edwin a Link Lecture was established in 2007 to honour Edwin a Link, the distinguished pioneer of synthetic training.
The aim of this flight simulation conference is to discuss the challenges associated with keeping flight simulators current and capable from both a concurrency and technological aspect. This applies to military and civil flight simulators across the fixed wing and rotary wing communities and includes full flight simulators as well as lower level devices.
This Air Power group lecture will see Air Commodore David Best outline the incredible breadth of roles which airpower plays in the Afghan campaign.
RAF Cranwell
This lecture will be hosted by the Flight Test Group.
The Royal Aeronautical Society Annual Banquet is a key social and networking event attracting over 500 guests drawn from all sectors of the aerospace community.
Annual General Meeting, followed by a talk in which
Mr Roger Smith, curator at Stow Maries Aerodrome, the only surviving World War I aerodrome which is being refurbished and has been opened as a museum will talk about Britain's Air Defences in World War I.
Lecture given by Tony Edwards BSc MBA CEng FRAeS – Gloucester and Cheltenham Branch
Toulouse Branch - History of Martin-Baker Ejection Seats given by Steve ROBERTS of Martin-Baker Aircraft Company Ltd, held at Airbus SAS/HQ 3km from Toulouse airport.
This conference looks to address the concern that Europe has insufficient capability to prove future Weapon Systems.
AGM at 6:15 pm followed by:
QUEEN ELIZABETH - The UK's Super Carrier
The transformation from engineering project to operational ship
Branch AGM.
AGM followed by lecture (subject to be announced).
Selection of first flight films inc Canberra, P1, TSR2, MRCA, Hawk & EFA
This lecture will be given by Dr Ellen Stofan, Chief Scientist and Jim Adams, Deputy Technologist at NASA, and will explore the future of human space exploration.
Branch Lecture: The SABRE dual cycle rocket engine and its applications
Practical Rocket Engineering: Taking a Hobby to the Extreme by Dr. Russ Strand and RAeS Stevenage Branch AGM
Dr Thomas Enders will give the 50th Sir Henry Royce lecture. Refreshments will be available from 5pm with the lecture starting at 6pm. Please arrive early as capacity is limited.
The General Aviation Lecture will be held on 6th May 2014 by Roger 'Dodge' Bailey, Chief Pilot of The Shuttleworth Collection. He will discuss how the collection prepares modern pilots to fly it's aeroplanes.
The ESC invites interested parties to join a special seminar at RAeS HQ on Wednesday 30 April 2014 which will see the launch of the committee's new Work Programme.
At the RAeS inaugural Education and Skills Conference there was a wide recognition of the shortage, both current and forecast, of sufficient personnel with the right skills, and of the need to build more effective links between the education sector (universities, colleges, and schools) and the aviation and aerospace industries. Th
Established in 1963, this Named Lecture is run alternately with Cranfield. It honours Sir Frederick Handley Page CBE, HonFRAeS, in recognition of his many contributions to aviation, and in particular to safety and reliability in air transportation. After WW2 he was instrumental in setting up the College of Aeronautics at Cranfield, where he was a Governor up to the time of his death.
This Aerodynamics Group Lecture will highlight the findings from a survey paper on railway train aerodynamics by Prof. Chris Baker of Birmingham University.
Christchurch Branch AGM and Special Lecture
Cardiff Branch:
NOTE: This is a venue change from the previous Llantrisant location.
The Royal Aeronautical Society's annual careers awareness and information event, the Ballantyne, is aimed at 14-18 year-olds and is open to youth groups, school groups and individual guests and has become an important fixture in the aerospace calendar, providing inspirational careers information and advice and a chance to hear from early careers and experienced professionals about career opportunities and pathways in aerospace and aviation.
Toulouse Branch - Lecture - Speaker to be confirmed
'Motion in Flight Simulation: How realistic and important is it?'
The annual Young Person's Lecture Competition hosted by the Yeovil Branch of the Royal Aeronautical Society.
Mr Geoff Connelly will discus the factors affecting safe operation of helicopters, with particular reference to the North Sea.
Christchurch Branch - The work of the Network Rail Air Operations Unit
Authorised Medical Examiner and private pilot, Dr Mike Timmons provides an interesting take on aviation medicine and throws light on many misconceptions.
Note that this lecture will take place after the Branch AGM.
16th Sir George Dowty Lecture & Dinner – Gloucester and Cheltenham Branch
In only four years from his first involvement with aviation in 1910, Cecil Howard Pixton established himself as a leading British pioneer aviator.
New Zealand Division 29th annual symposium
New Zealand Division annual symposium
Air Chief Marshal Sir Andrew Pulford presents '21st Century Air Power'