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Molson Coors Reports Second Quarter 2008 Financial Results
DENVER, COLORADO and MONTREAL, QUEBEC–(Marketwire – Aug. 5, 2008) – Molson Coors Brewing Company (TSX:TAP.A)(TSX:TAP.B)(NYSE:TAP) today reported higher sales volume and net sales and lower earnings per share for the fiscal second quarter ending June 29, 2008.
Second Quarter Highlights
Key results for the Company's fiscal second quarter ended June 29, 2008, compared to the fiscal second quarter ended July 1, 2007, include the following:
– A major achievement during the quarter was the formation of MillerCoors, creating a single, stronger, more competitive American brewer with a powerful portfolio of brands and economies of scale to win in the U.S. beer market.
– Net sales increased 4.8 percent to $1.76 billion.
– Net sales per barrel increased 3.9 percent.
– Sales volume increased 0.9 percent to 11.6 million barrels, or 13.6 million hectoliters (HLs).
– Total Company sales-to-retail (STRs) rose 2.3 percent.
– Cost of goods sold per barrel increased 5.9 percent.
– Marketing, general and administrative expenses rose 1.4 percent.
– Income from continuing operations, a U.S. GAAP earnings measure, was $93.3 million after tax, compared to $184.3 million in the second quarter of 2007. The change is attributable to higher special charges, increased energy and commodity inflation in all markets, and a higher effective tax rate for the quarter.
– Underlying after-tax income was $172.6 million, or $0.93 per diluted share, in the second quarter 2008, a 2.0 percent decline from $176.1 million, or $0.97 per diluted share, last year. The company calculates non-GAAP underlying income by excluding special and other one-time items from the nearest U.S. GAAP earnings measure.
– To calculate underlying income in the second quarter of 2008, the company excluded net special charges of $103.9 million pretax. The charges were driven by a non-cash write-down of the book value of the Molson brands sold in the U.S.; MillerCoors retention, planning and integration expenses; and transition costs related to the outsourcing of shared services.
All $ amounts are in U.S. Dollars. See "Special and Other One- Time Items" and "Discontinued Operations" as well as tables below for reconciliations to nearest U.S. GAAP measures.
Peter Swinburn, Molson Coors president and chief executive officer, said, "This was a momentous quarter for the future of our company. With the creation of MillerCoors, we completed the most significant business combination in the history of U.S. beer. This new venture fundamentally changes the game in the U.S. beer industry by creating a stronger and more competitive company with the talent, brands and scale to win. MillerCoors is bringing new energy to the beer industry and will drive profitable growth, which provides Molson Coors Brewing Company with important new financial resources to continue building our brands in our core markets and around the world."
Swinburn added, "Our financial performance in the second quarter benefited from another exceptional quarter by our U.S. business, with gains in sales volume, pricing and underlying income. We are excited about this strong momentum as we launch MillerCoors. Across our company, our top brands continue to outperform the industry in the second quarter, and we achieved net pricing gains and substantial cost savings in each of our core markets. At the same time, however, energy and commodity inflation has become a bigger challenge for our company and for the global beer industry. This cost inflation, combined with our higher tax rate, drove lower after- tax income for our total company in the quarter. In the face of challenging economic conditions, we continue to implement value- adding strategies that will allow us to build our brands, achieve positive pricing, reduce costs, and grow profits and cash for our shareholders. The fundamentals of our business remain strong, and we are more excited than ever about the future for Molson Coors Brewing Company, as we strive to become a top-performing global brewer."
During the quarter, Molson Coors achieved approximately $18 million in cost reductions as part of its three-year, Resources for Growth program. At the half-way mark for the program, the Company has achieved $138 million of the total $250 million in cost savings expected by the end of 2009.
Foreign exchange rate movements increased total-company pretax income by approximately $6 million in the quarter.
The Company's effective tax rate during the second quarter 2008 for income from continuing operations was 23 percent, both including special items and on an underlying basis, up from 13 percent and 20 percent, respectively, during the second quarter a year ago. The Company now estimates that its full-year 2008 effective tax rate will be in the range of 20 percent to 24 percent on an underlying basis.
Business Segments
Following are the Company's 2008 second quarter results by business segment:
Canada Business
The Canada business earned underlying pretax income of $154.4 million. The 5.6 percent increase compared to a year ago was driven by an $11 million benefit from favorable foreign currency and positive net pricing, partially offset by higher energy and commodity costs.
On a comparable basis (which includes the Modelo brands in all of Canada for both periods1), Canada sales-to-retail decreased 0.8 percent during the quarter and market share declined slightly. The sales-to-retail decrease was driven by weak industry performance reflecting unusually wet weather across most of Canada. Despite weak industry trends, Molson's strategic brands, which represent more than 85 percent of the Company's Canada volume, continued to grow, including mid-single-digit growth by the Coors Light brand and double-digit growth by Rickard's, Creemore and Carling.
Results for the Modelo Molson joint venture, which sells the Modelo brands across Canada, are recorded under the equity method of accounting. Beginning in 2008, Modelo brand results are no longer consolidated in the Company's Canada results, affecting the comparability of results with 2007.
Canada sales volume decreased 11.7 percent in the quarter ending June 29, 2008, due almost entirely to the transfer of volume to the Modelo Molson joint venture and the termination of the U.S. production contract for Foster's. Net sales per barrel increased 4.2 percent in local currency during the quarter with more than half the increase driven by positive pricing. Cost of goods sold per barrel increased 1.4 percent in local currency, driven by eight percentage points of commodity and materials inflation, along with four percentage points due to higher overhead costs and the ongoing shift in sales mix to partner import brands. These factors were largely offset by two and one-half percentage points of operations cost savings and eight percentage points of net benefit related to the Foster's and Modelo changes and cycling an unfavorable foreign currency adjustment in 2007. Marketing, general and administrative expenses decreased 10.4 percent in local currency during the quarter, due to the transfer of Modelo brand spending to the Modelo Molson joint venture.
(1)Molson Coors includes its 50% ownership share of Modelo Molson sales to retail in its consolidated sales to retail. Beginning in 2008, Modelo Molson sales volumes are excluded from consolidated sales volume.
United States Business
Underlying U.S. pretax income increased 14.8 percent to $112.7 million, driven by strong sales volume growth and higher net pricing, partially offset by higher energy, transportation and packaging material costs. Total U.S. segment sales to retail grew 5.1 percent during the quarter. The increase was due to mid-single- digit growth by Coors Light, high-single-digit growth by Coors Banquet, and double-digit growth by Blue Moon and Keystone Light. For the fourth consecutive quarter, each of the Company's four largest U.S. brands achieved sales and market-share gains. In the second quarter, the U.S. business again achieved sales-to-retail growth in all major channels and in 47 out of 50 states. Total sales volume to wholesalers grew 7.0 percent. Net sales per barrel increased 3.8 percent in the second quarter, driven by positive pricing.
Cost of goods sold per barrel in the U.S. business increased by 4.9 percent in the second quarter, due primarily to increased fuel prices and packaging material costs. Marketing, general and administrative expense increased 6.6 percent during the quarter, driven by increased sales and marketing investments and higher incentive compensation related to strong business performance.
United Kingdom Business
The U.K. business reported underlying pretax income of $21.5 million in the second quarter of 2008 compared to $40.5 million in the same quarter last year. The decrease is primarily due to higher input inflation, higher pension costs and lower volumes. During the second quarter, the U.K. beer industry continued to suffer from weakening economic conditions, smoking bans, and accelerating commodity and materials inflation.
Despite the economic climate, the U.K. business gained market share in both the on-premise and off-premise channels in the second quarter. U.K. owned brand volumes decreased 2.6 percent in the quarter. The U.K. business increased volume in the off-premise channel by 6 percent, while volumes in the on-premise channel declined 9 percent.
U.K. net sales per barrel in local currency increased 3.4 percent during the quarter, driven by the 2007 acquisition of the Camerons on-premise distribution business. Comparable owned-brand net sales per barrel increased 0.6 percent due to higher on-premise pricing.
Cost of goods sold per barrel in local currency increased 11.9 percent in the second quarter, due primarily to higher Camerons factored brand sales, energy and materials cost inflation, and higher pension expense. Nearly half of this increase was due to Camerons and other factored brand sales. Marketing, general and administrative expense decreased 0.8 percent in local currency.
Global Markets and Corporate
Marketing, general and administrative expenses for Global Markets and Corporate decreased 6.1 percent to $35.1 million in the second quarter 2008, which includes $25.9 million in Corporate general and administrative expenses. Net interest expense was $26.0 million in the second quarter 2008, a decrease of $1.8 million compared to a year ago. The underlying pretax loss for Global Markets and Corporate was $57.1 million, a 3.4 percent improvement from the second quarter of 2007. Foreign exchange movements increased the Global Markets and Corporate pretax loss by $5 million due to higher interest and other corporate expense.
Special and Other One-Time Items
During the second quarter 2008 the Company reported net special charges of $103.9 million, due to four factors:
– Planning, integration and employee retention costs of $33 million related to MillerCoors;
– Transition costs of $12 million to outsource the Company's shared services to a third-party supplier;
– $8 million of various other charges;
– A $51 million non-cash impairment of the intangible asset related to the Molson brands sold in the United States.
Molson brands that are marketed and sold in the U.S. by Coors Brewing Company have been declining in recent years. Most recently, increases in packaging and freight costs on imported products, combined with continued volume declines, have significantly impacted the overall profitability of the brands in the U.S. While management continues to believe that the Molson brands play an important role in the MillerCoors brand portfolio, it was determined that the value of the intangible brand asset has been impaired. The Company therefore recognized a $50.6 million non-cash charge in the second quarter to reduce the carrying value of the Molson brands in the U.S.
Second quarter 2007 underlying pretax income excludes a one-time $16.7 million benefit from the sale of the Company's ownership interest in House of Blues Concerts Canada, as well as special charges of $25.4 million, including a $24.1 million non-cash special charge related to the termination of our Foster's U.S. license agreement.
Discontinued Operations
The Company reports results for its former Brazilian unit, Cervejarias Kaiser ("Kaiser"), as discontinued operations. The Company reported a net loss of $12.4 million from discontinued operations during the quarter due to the impact of foreign exchange movements on the indemnity estimates related to the Brazil Kaiser business.
2008 Second Quarter Earnings Conference Call
Molson Coors Brewing Company will conduct an earnings conference call with financial analysts and investors at noon Eastern Time today to discuss the Company's 2008 second quarter results. The Company will provide a live webcast of the earnings call.
Approximately two hours after the conclusion of the earnings call, the Company also will host an online, real-time webcast of an Investor Relations Follow-up Session with financial analysts at 3:00 p.m. Eastern Time. Both webcasts will be accessible via the Company's website, www.molsoncoors.com. Online replays of the webcasts will be available until 11:59 p.m. Eastern Time on November 1, 2008.
Reconciliations to Nearest U.S. GAAP Measures
Molson Coors Brewing Company
2008 Second Quarter Underlying After-Tax Income (After-Tax Income From Continuing Operations, Excluding Special and Other One-time Items) (Note: Some numbers may not sum due to rounding.) (In millions of $US, except per share data)__________________ 2008 2nd Q__2007 2nd Q —————————————————————- U.S. GAAP: After-tax income from continuing operations:________________________ $93.3______$184.3 ____________________ Per diluted share:________$0.50______ $1.02 Add back: Pretax special items – net__________ 103.9________25.4 Add back: Gain on sale of House of Blues Canada equity investment (other income)____________-______ (16.7) Minus: Tax effects related to special and other one-time items__________________________ (24.6)______(17.0) Non-GAAP: Underlying after-tax income:________$172.6______$176.1 ____________________ Per diluted share:________$0.93______ $0.97 —————————————————————- 2008 Second Quarter Underlying Pretax Income (Pretax Income From Continuing Operations, Excluding Special and Other One-time Items) (Note: Some numbers may not sum due to rounding.) ____________________________________________ Business________________Total ——————————————————————– —— __________________________________________________________Global ________________________________________________________ Markets ____________________________________________________________ and__ Consoli- (In millions of $US)____________ Canada__ U.S.__ U.K.__Corporate____ dated ——————————————————————– —— U.S. GAAP: 2008 2nd Q pretax income (loss) from continuing operations – reported__________$153.9__$35.4____$18.4____ $(80.1)__$127.6 Add back: Pretax special items – net______________________________ 0.5__ 77.3______3.1______ 23.0____103.9 Non-GAAP: 2008 2nd Q underlying pretax income (loss)____________154.4__112.7____ 21.5______(57.1)__ 231.5 ——————————————————————– —— Percent change 2008 2nd Q vs. 2007 2nd Q underlying pretax income (loss)____________________ 5.6%__14.8%__ -46.9%______- 3.4%____ 2.5% ——————————————————————– —— U.S. GAAP: 2007 2nd Q pretax income (loss) from continuing operations______________________138.8__ 98.2____ 39.2______(59.1)__ 217.1 Add back: Pretax special items net______________________________24.1____________ 1.3________________25.4 Minus: Gain on sale of House of Blues Canada equity investment (other income)__________________(16.7)______________________________(16.7) Non-GAAP: 2007 2nd Q underlying pretax income (loss)__________ $146.2__$98.2____$40.5____ $(59.1)__$225.8 ——————————————————————– ——
Pretax and After-Tax Underlying Income should be viewed as a supplement to – not a substitute for – our results of operations presented on the basis of accounting principles generally accepted in the United States. We believe that Underlying Income performance is used by and is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to evaluate our performance without regard to items such as special items, which can vary substantially from company to company depending upon accounting methods and book value of assets and capital structure. Our management uses Underlying Income as a measure of operating performance to assist in comparing performance from period to period on a consistent basis; as a measure for planning and forecasting overall expectations and for evaluating actual results against such expectations; and in communications with the board of directors, stockholders, analysts and investors concerning our financial performance.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the federal securities laws, and language indicating trends, such as "trend improvements,""progress,""anticipated,""expected,""improving sales trends" and "on track." It also includes financial information, of which, as of the date of this press release, the Company's independent auditors have not completed their review. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. These factors include, among others, changes in consumer preferences and product trends; price discounting by major competitors; failure to realize the anticipated cost savings and other benefits from MillerCoors; failure to realize anticipated results from synergy initiatives; and increases in costs generally. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.
________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ______________ CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ________________(VOLUMES IN THOUSANDS, DOLLARS IN MILLIONS __________________AND PER SHARE AMOUNTS IN WHOLE DOLLARS) ________________________________ (UNAUDITED) __________________________ Thirteen____ Thirteen______Twenty-____ Twenty- ______________________________Weeks________Weeks____Six Weeks__ Six Weeks ______________________________Ended________Ended________Ended______ Ended ——————————————————————– —– ____________________________June 29,______July 1,____ June 29,____ July 1, ______________________________ 2008________ 2007________ 2008________2007 ——————————————————————– —– Volume in barrels____________11,617______ 11,509______ 20,732______20,378 ——————————————————————– —– ——————————————————————– —– Sales______________________$2,359.4____ $2,244.0____ $4,175.6____$3,895.2 Excise taxes________________ (602.0)______(567.8)____(1,061.6)____ (990.3) ——————————————————————– —– Net Sales__________________1,757.4______1,676.2______3,114.0____ 2,904.9 Cost of goods sold________ (1,033.6)______(966.9)____(1,868.6)__ (1,737.1) ——————————————————————– —– Gross profit________________ 723.8________709.3______1,245.4____ 1,167.8 Marketing, general and administrative expenses______(463.2)______(456.9)______(899.8)____ (853.7) Special items, net__________ (103.9)______ (25.4)______(111.2)______(33.6) ——————————————————————– —– Operating income____________ 156.7________227.0________234.4______ 280.5 Interest expense, net________ (23.1)______ (24.9)______ (47.0)______(51.3) Debt extinguishment costs________ -____________- ________(12.4)__________- Other income, net______________(6.0)________15.0________ (1.4)______ 16.2 ——————————————————————– —– Income from continuing __operations before income __taxes and minority __interests__________________ 127.6________217.1________173.6______ 245.4 Income tax benefit (expense)____________________(28.9)______ (28.5)______ (23.4)______(33.7) ——————————————————————– —– Income from continuing __operations before __minority interests__________ 98.7________188.6________150.2______ 211.7 Minority interests in net income of consolidated entities______________________(5.4)________(4.3)______ (10.8)______ (8.1) ——————————————————————– —– Income from continuing __operations__________________ 93.3________184.3________139.4______ 203.6 Loss from discontinued operations, net of tax______ (12.4)________ 0.6________(21.4)______(14.2) ——————————————————————– —– Net income__________________ $80.9______ $184.9______ $118.0______$189.4 ——————————————————————– —– ——————————————————————– —– Basic income (loss) per share: From continuing __operations__________________$0.51________$1.03________$0.77______ $1.15 From discontinued
ations__________________(0.07)________0.00________(0.12)______(0.08) ——————————————————————– —– Basic net income per share________________________$0.44________$1.03________$0.65______ $1.07 ——————————————————————– —– ——————————————————————– —– Diluted income (loss) per share: From continuing __operations__________________$0.50________$1.02________$0.75______ $1.13 From discontinued
ations__________________(0.07)________0.00________(0.12)______(0.08) ——————————————————————– —– Diluted net income per share________________________$0.43________$1.02________$0.63______ $1.05 ——————————————————————– —– ——————————————————————– —– Weighted average shares basic________________________182.4________178.9________181.7______ 177.5 Weighted average shares diluted______________________186.0________181.2________185.0______ 180.1 Dividends per share__________ $0.20________$0.16________$0.36______ $0.32 ——————————————————————– —– ——————————————————————– —– ________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ________________ UNITED STATES SEGMENT RESULTS OF OPERATIONS ________________ (VOLUMES IN THOUSANDS, DOLLARS IN MILLIONS) ________________________________(UNAUDITED) ____________________________ Thirteen__ Thirteen____ Twenty-____ Twenty- ________________________________Weeks______Weeks__ Six Weeks__ Six Weeks ________________________________Ended______Ended______ Ended______ Ended ——————————————————————– —- ______________________________June 29,____July 1,____June 29,____July 1, ________________________________ 2008______ 2007________2008______ 2007 ——————————————————————– —- Volume in barrels______________ 7,048______6,588______12,595______11,754 ——————————————————————– —- ——————————————————————– —- Sales__________________________$970.3____ $877.1____$1,721.7____$1,556.0 Excise taxes__________________ (128.5)____(119.3)____ (229.9)____ (212.8) ——————————————————————– —- Net sales______________________841.8______757.8____ 1,491.8____ 1,343.2 Cost of goods sold____________ (514.4)____(458.5)____ (907.3)____ (818.7) ——————————————————————– —- Gross profit__________________ 327.4______299.3______ 584.5______ 524.5 Marketing, general and administrative expenses______ (214.6)____(201.3)____ (412.2)____ (381.6) Special items, net______________(77.3)________ -______ (69.3)__________- ——————————————————————– —- Operating income________________35.5______ 98.0______ 103.0______ 142.9 Other income, net________________(0.1)______ 0.2________ 2.3________ 0.8 ——————————————————————– —- Earnings before income taxes and minority interests____$35.4______$98.2______$105.3______$143.7 ——————————————————————– —- ——————————————————————– —- ________________ MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ________________ UNITED KINGDOM SEGMENT RESULTS OF OPERATIONS __________________(VOLUMES IN THOUSANDS, DOLLARS IN MILLIONS) ________________________________(UNAUDITED) ____________________________ Thirteen__ Thirteen____ Twenty-____ Twenty- ________________________________Weeks______Weeks__ Six Weeks__ Six Weeks ________________________________Ended______Ended______ Ended______ Ended ——————————————————————– —- ______________________________June 29,____July 1,____June 29,____ July 1, ________________________________ 2008______ 2007________2008________2007 ——————————————————————– —- Volume in barrels______________ 2,407______2,471______ 4,406______ 4,451 ——————————————————————– —- ——————————————————————– —- Sales__________________________$676.1____ $664.5____$1,227.4____$1,181.5 Excise taxes__________________ (309.0)____(297.5)____ (549.8)____ (522.8) ——————————————————————– —- Net sales______________________367.1______367.0______ 677.6______ 658.7 Cost of goods sold____________ (251.6)____(232.3)____ (470.6)____ (436.7) ——————————————————————– —- Gross profit__________________ 115.5______134.7______ 207.0______ 222.0 Marketing, general and administrative expenses________(96.4)____ (97.7)____ (191.5)____ (188.4) Special items, net______________ (3.1)______(1.3)______ (5.2)______ (5.4) ——————————————————————– —- Operating loss__________________16.0______ 35.7________10.3________28.2 Interest income, net______________2.9________2.9________ 5.7________ 5.7 Other expense, net______________ (0.5)______ 0.6________(1.7)______ (1.6) ——————————————————————– —- Earnings before income taxes and minority interests____$18.4______$39.2______ $14.3______ $32.3 ——————————————————————– —- ——————————————————————– —- ________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ____________________CANADA SEGMENT RESULTS OF OPERATIONS __________________(VOLUMES IN THOUSANDS, DOLLARS IN MILLIONS) ________________________________ (UNAUDITED) ____________________________ Thirteen__ Thirteen____ Twenty-____ Twenty- ________________________________Weeks______Weeks__ Six Weeks__ Six Weeks ________________________________Ended______Ended______ Ended______ Ended ——————————————————————– —- ______________________________June 29,____July 1,____June 29,____ July 1, ________________________________ 2008______ 2007________2008________2007 ——————————————————————– —- Volume in barrels______________ 2,069______2,344______ 3,563______ 3,979 ——————————————————————– —- ——————————————————————– —- Sales__________________________$695.5____ $683.8____$1,195.3____$1,124.4 Excise taxes__________________ (162.9)____(149.3)____ (279.1)____ (252.0) ——————————————————————– —- Net sales______________________532.6______534.5______ 916.2______ 872.4 Cost of goods sold____________ (258.5)____(266.0)____ (474.7)____ (464.6) ——————————————————————– —- Gross profit__________________ 274.1______268.5______ 441.5______ 407.8 Marketing, general and administrative expenses______ (117.1)____(120.5)____ (223.7)____ (216.8) Special items, net______________ (0.5)____ (24.1)______ (1.9)______(28.2) ——————————————————————– —- Operating income______________ 156.5______123.9______ 215.9______ 162.8 Other income, net________________(2.6)______14.9________ 0.7________17.2 ——————————————————————– —- Earnings before income __taxes and minorit interests__ $153.9____ $138.8______$216.6______$180.0 ——————————————————————– —- ——————————————————————– —- ________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ______________GLOBAL MARKETS AND CORPORATE RESULTS OF OPERATIONS __________________(VOLUMES IN THOUSANDS, DOLLARS IN MILLIONS) ________________________________(UNAUDITED) ____________________________ Thirteen__ Thirteen____ Twenty-____ Twenty- ________________________________Weeks______Weeks__ Six Weeks__ Six Weeks ________________________________Ended______Ended______ Ended______ Ended ——————————————————————– —- ______________________________June 29,____July 1,____June 29,____ July 1, ________________________________ 2008______ 2007________2008________2007 ——————————————————————– —- Volume in barrels________________ 93________ 106________ 168________ 193 ——————————————————————– —- ——————————————————————– —- Net sales______________________$15.9______ $16.9______ $28.4______ $30.6 Cost of goods sold______________(9.1)______(10.1)______(16.0)______(17.1) ——————————————————————– —- Gross profit____________________6.8________ 6.8________12.4________13.5 Marketing, general and administrative expenses______ (35.1)______(37.4)______(72.4)______(66.9) Special items, net____________ (23.0)__________-______ (34.8)__________- ——————————————————————– —- Operating loss________________(51.3)______(30.6)______(94.8)______(53.4) Interest expense, net__________(26.0)______(27.8)______(52.7)______(57.0) Debt extinguishment costs__________-__________ -______ (12.4)__________- Other expense, net______________(2.8)______ (0.7)______ (2.7)______ (0.2) ——————————————————————– —- Loss before income taxes____ $(80.1)____ $(59.1)____$(162.6)____$(110.6) ——————————————————————– —- ——————————————————————– —- ________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES __________________ CONDENSED CONSOLIDATED BALANCE SHEETS ______________________________ (IN MILLIONS) ________________________________(UNAUDITED) ____________________________________________________________As of ——————————————————————– ——- ________________________________________________________June 29,__ December __________________________________________________________ 2008____30, 2007 ——————————————————————– ——- Assets Cash and cash equivalents________________________________$284.4______$377.0 Receivables, net________________________________________1,046.9______ 871.1 Total inventories, net____________________________________347.6______ 369.6 Other, net________________________________________________149.6______ 159.1 ——————————————————————– ——- Total current assets__________________________________ 1,828.5____ 1,776.8 Properties, net________________________________________ 2,638.7____ 2,696.2 Goodwill and intangible assets, net____________________ 8,116.2____ 8,385.9 Other____________________________________________________ 575.7______ 592.7 ——————————————————————– ——- Total assets________________________________________ $13,159.1__ $13,451.6 ——————————————————————– ——- ——————————————————————– ——- Liabilities and stockholders' equity Accounts payable________________________________________ $405.8______$380.7 Accrued expenses and other______________________________1,370.1____ 1,350.5 Short-term borrowings and current portion of long-term debt____________________________________________21.4________ 4.3 ——————————————————————– ——- Total current liabilities______________________________1,797.3____ 1,735.5 Long-term debt__________________________________________2,056.9____ 2,260.6 Pension and post-retirement benefits______________________612.4______ 677.8 Other__________________________________________________ 1,505.3____ 1,584.4 ——————————————————————– ——- Total liabilities______________________________________5,971.9____ 6,258.3 Minority interests________________________________________ 35.2________43.8 Total stockholders' equity______________________________7,152.0____ 7,149.5 ——————————————————————– ——- Total liabilities and stockholders' equity__________ $13,159.1__ $13,451.6 ——————————————————————– ——- ——————————————————————– ——- ________________MOLSON COORS BREWING COMPANY AND SUBSIDIARIES ______________ CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ________________________________(IN MILLIONS) ________________________________ (UNAUDITED) ____________________________________________________Twenty-Six Weeks Ended ——————————————————————– —— ______________________________________________________ June 29,____ July 1,
____________________________________________________2008________2007 ——————————————————————– —— Cash flows from operating activities: Net
come______________________________________________$118.0______$189.4 Adjustments to reconcile net income to net cash __provided by operating activities: __Depreciation and amortization__________________________167.2______ 167.4 __Change in working capital and other, net______________(124.6)____ (308.6) ——————————————————————– —— Net cash provided by operating activities________________160.6________48.2 Cash flows from investing activities: Additions to properties and intangible assets__________(136.4)____ (268.3) Proceeds from sales of assets and businesses, net________33.5________33.3 Other, net________________________________________________8.6________ 2.8 ——————————————————————– —— Net cash used in investing activities____________________(94.3)____ (232.2) Cash flows from financing activities: Exercise of stock options under equity compensation __plans__________________________________________________ 45.9______ 167.9 Dividends paid__________________________________________(65.5)______(57.1) Net borrowings of debt________________________________ (147.6)______599.6 Other____________________________________________________ 9.3______ (32.9) ——————————————————————– —— Net cash (used in) provided by financing activities____ (157.9)______677.5 Cash and cash equivalents: Net (decrease) increase in cash and cash equivalents____(91.6)______493.5 Effect of foreign exchange rate changes on cash and cash equivalents____________________________________ (1.0)________4.3 Balance at beginning of year____________________________377.0______ 182.2 ——————————————————————– —— Balance at end of period________________________________$284.4______$680.0 ——————————————————————– —— ——————————————————————– ——
(c) 2008 Marketwire. Provided by ProQuest Information and Learning. All rights Reserved.


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Cheap GAL to Nashville flights
Popular Flights from Galena, Alaska
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subset: commoncrawl


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Nike reported second-quarter profit at $1.14 a share, topping analyst estimates of $1, as sales of running shoes gained in North America. With weaker sales overseas, net income in the quarter declined 18 percent, to $384 million.
Nike $peeds in N. America
By Post Staff Report
December 21, 2012 | 5:00am


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Sunderland boss Paolo di Canio says he is ready for the Premier League stage.
Di Canio will make his Sunderland debut at Chelsea this weekend.
He said: "As a manager, it is my first time at the top, I mean the very top level. This is a fantastic achievement for me and my staff, and it is a consequence of what we have done in the past.
"I'm not worried about the big stage. We will do everything straight away to get a big result at Chelsea and in the other games.
"Chelsea at Stamford Bridge — what can you say? I can't wait for it and I expect the same desire and determination from my players to make sure they do a good job.
"To go to Stamford Bridge and make a big impact, we always have to remember that the main protagonists are the players, but with my help and my staff's help, we can go there and get a result.
"It's exciting. We live for it. Life is short and if you have an exciting job, you're lucky."


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Originally written on Fox Sports | Last updated 11/9/14
The Indianapolis Colts are on a defensive spending spree. Less than 24 hours after adding Pro Bowl safety LaRon Landry to the roster, the Colts struck two more deals, this time landing San Francisco defensive lineman Ricky Jean Francois and re-signing cornerback Darius Butler. Terms of the deals were not immediately available. The latest moves are intended to help revamp a traditionally undersized defense that has played a secondary role to quarterbacks Peyton Manning, Andrew Luck and the offense over the 15 seasons. Now, suddenly, the Colts are getting bigger, stronger and deeper, enough to convince Francois this was the team he wanted to be with. ''The Colts have always been known for their offense, but sometime we've got to change the trend and become a defensive team, too,'' Francois told reporters on a hastily arranged conference call Thursday. ''They're getting a versatile player, a big dude that can do just about anything you want him to do besides punt and kick field goal...
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Select Local Merchants
Rebounderz EdisonRead MoreFollowing its recent expansion, Rebounderz boasts more than 21,000 square feet of bouncing throughout three trampoline surfaces. Both kids and adults leap, jump, and flip through the space, just bouncing around or playing high-velocity games of trampoline dodgeball. At the foam pit, guests test their aerobatic skills and before landing softly into cloud-like masses of foam. The facility also has a four-lane basketball slam dunk runner. These feats create a serious cardio workout, and guests in need of a break can breathe heavily toward the arcade where they can play games to win prizes or relax in the cafe with a smoothie or slice of pizza. For special occasions such as birthdays, parents can book one of four party rooms, including the basketball room replete with a basketball court, jump time, pizza, and a party assistant.76 Carter DriveEdison, NJ US
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Nj PartyworksRead MoreTwenty-two years ago, Mark and Lynn Zientek started New Jersey Partyworks as a small, family-run operation whose costumed characters and clowns entertained at parties, barbecues, and gatherings. Today, the business outfits small soirees as well as big-time special events with rental amusement rides, moonbounces, tents, slides, and interactive games and obstacle courses. Staff members oversee all the rides and revelry, backed by weekly trainings from managers certified in nationally recognized safety regulations and equipment maintenance as well as balloon-animal taxonomy. The company's troupe of live entertainers now includes DJs, stilt walkers, magicians, and caricaturists who help ring in special occasions for crowds of laughing kids and grownups alike.1819 State Route 35South Amboy, NJ US
FunTime AmericaRead MoreTwenty-eight armed soldiers swarm between two stories, ducking and weaving to avoid the sharp eyes of their opponents. Or so the story often unfolds during laser-tag sessions in FunTime America?s state-of-the-art laser-tag arena. Though it may be the most adrenaline-pumping portion of the family-friendly play place, it's but an introduction to the variety of attractions that unfolds before visitors. Guests helm bumper cars, take flight in helicopters, or race to scale the 20-foot climbing wall, whose foothold arrangements offer four difficulty levels from easy to easy for people with wings. Once playtime comes to a simmer, the video-game arcade really shines with its air-hockey tables and sit-down games that take imaginations on the road to their pixilated lands. After kids have tired themselves out, they can refuel at the USA Cafe with pizza, pretzels, and other fare to boost energy before another go around the center beckons.269 Route 35 NorthEatontown, NJ US
Cousins PaintballRead MoreFor more than 30 years, Cousins Paintball has been at the forefront of the paintball industry, equipping hundreds of thousands of players for battle. In addition to fun and thrill, the business prioritizes safety, providing participants with full masks to protect eyes and faces, and specially designed paint is free of any harmful ingredients. With referees overseeing competitive battles, players are free to keep their eyes on the prize as they race to capture the flag or compete in special events.2727 Arthur Kill RoadNew York, NY US
The FunplexRead MoreBeyond its roaring arcade and indoor amusement park, The Funplex decrees that 8,000 of its 100,000-square-foot kingdom be annexed to the Realm where fantasy game MagiQuest disperses Magis on heroic adventurers through an interactive and spellbinding semivirtual lair. Carefully choose your Magi alias and grab your secret-yielding loaner wand (a $2 value) before embarking on a fantastical adventure filled with distinguished wizards, enchanting pixies, and cunning dragons. Seasoned with mystical spells and motion sensors, wands respond to trees, mountains, and flat screens sprinkled throughout the Realm, sharing clues so Magi can complete honorable tasks or surprise wicked goblins with an unexpected hug. With unlimited play (a $14.95 value), Magis can entreat the hours to swallow them into the transformative wormhole of role-playing bliss.182 Highway 10East Hanover, NJ US


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Let's lose offensive mascots
I wanted to applaud The Vindicator for printing an editorial from the Los Angeles Times, "'Redskins' is wrong" on the Nov. 28 editorial page that culminated with the line, "The Washington franchise's name is an embarrassment to the Nation's capital and a blight on the NFL." Likewise, our beloved Chief Wahoo is an embarrassment to Northeast Ohio.
I was born and raised in Boardman and proudly donned my Chief Wahoo hat for years. I bought into the excuse that the disfigured caricature and name actually honored Louis Sockalexis, an member of the Penobscot tribe who played for Cleveland for two years. As professor Kimberly Roppolo states in her essay "Symbolic Racism, History, and Reality: The Real Problem With Indian Mascots": "I realize that many people see no problem with the use of American Indians as sports mascots ... we are in a day and age where racial tolerance and tolerance for all kinds of diversity have increased. But this is not the case with racism against American Indians, largely so ingrained in the American consciousness that it is invisible."
What began as belittling Native Americans to cover up national guilt has become mindless racism we associate with entertainment — that I, a 23-year-old Caucasian girl, associated with trips to Jacobs Field with my father. We must demand sports teams stop brainwashing our children to associate blind hate with family and tradition. Revert to an old name: the Cleveland Blues, Cleveland Spiders, Cleveland Naps. Transition to a "C" logo on the hats and uniforms. Do something before we are known as the Cleveland Racists.
I think there is way too much made of the use of nicknames for sporting teams. I do agree that the team "Redskins" is wrong but as for Chief Wahoo, a friendly cartoon face that is loved by children and adults I do not agree. You do not see Irish people complaining about the "Fighting Irish" of Notre Dame and their mascot, and the Seminole Indians approve the costume of the mascot at Florida State. The Chippewas have no problem with Central Michigan.
The use of a native American group in many cases does honor that particular group. Many of the mascots are based on actual members dress and styles, just as the Mountaineer in West Virginia with his rifle is a part of their sports tradition and is considered one of the highest honors to be chosen to be "The Mountaineer."
Enjoy these mascots for what they are, symbols of respect in most all cases. Change the ones that are not, I agree, but not all.
Simple solution...quit watching sports. Screwball.
Just because someone expresses an opinion that is different from yours doesn't make them a nut job or a screwball. How about some intelligent debate, people?
They are nothing but a team name and a mascot, nothing more nothing less. The Redskins have been around since 1933 and the Indians since 1914, back then people could've cared less. But of course nowadays everything is politically incorrect. Why is that? Did someone just have nothing better to do then start on sport mascots. In 2004, a poll showed that 91% of American Indians found the redskins name acceptable. 91%! Whatever happened going to a sporting event and just enjoying yourself, there is no harm in mascots or names, it's for entertainment purposes only. Why does everything have to be such a major issue. Americans have had a history of "playing Indian" that dates back to at least the 1700s, but in today's society everyone has to complain. Unreal. Just go to the games and enjoy it, don't make more of it then what it is...geez.
Mascots that are racial stereotypes are racist and should be eliminated. Wahoo is a caricature of a group of people. Get rid of it. I don't care how "beloved" it is to children. I hope we are a little more enlightened to how demeaning these mascots are than people were in 1914 or the 1700s.
If 91% of American Indians have no problems with it, then why do you? Are you a American Indian? What is it that bothers you so much about it? If I brought a company for millions of dollars that included a trademark logo that was well known around the world, that is my right. Why is everything always racist? Were talking about a mascot, isn't there more important things in life to worry about and protest about then a mascot? We really need to get our priorities straight when we have to say a mascot is racist.
*mascot : a person, animal or object believed to bring good luck. Thats all it is.
oooooh i'm soooooo ofended. Such nonsense !
The difference is that we're talking about ethnic groups. Teams would never get away with calling themselves the Boston Blacks or the Jersey Jews. It just wouldn't be allowed Why is it allowed for Native Americans? A Mountaineer is not an ethnic group and not offensive. The very word "Redskins" is offensive and was created to demean another group of people. There is no honor in that word, likewise for a team calling themselves the Savages. Find the honor in that. Comparing them to animals like the Lions or Penguins is ridiculous. It's absolutely not the same thing and shouldn't even need to be addressed.
I heard the Browns and Reds are being forced to change their names too. The oranges, pinks, blues, and purples are feeling left out and a lawsuit is pending.
Yeah! Let's just tell them, "We don't care if you're offended by our mascots! We're honoring you whether you like it or not! We only took your land and murdered your ancestors, but now we want to honor you through our materialism that mocks your traditions and ruins your land!"
For real, Youngstown. No wonder we can't get people to move here...
Political correctness should not impede the right to free speech. A sports team should be able to call themselves whatever they want no matter who doesn't like it, especially if the owner paid billions of dollars for that trademark/logo. (which all it is, is a trademark and logo, not history 101) For crying out loud, its a sports team.
It amazes me that people talk about history and such when the naming of the team had nothing to do with that, it's a sports name and mascot, nothing more nothing less.
But the word Irish isn't offensive. Redskins is. When you say that no one uses the term anymore, you're mistaken. It is still used in a cruel way in some areas of the country. I agree that most people won't see a silly mascot in fake regalia and then see the word 'savages' and make the connection that Native Americans must be savages. It's does bring up negative feelings for Native Americans though and that is why it matters and must be changed. There are many ethnic groups and stereotypes that could be used as team mascots but they aren't. It would be obviously unacceptable. I don't get why we accept it for Native Americans just because of tradition.
I agree Courtney. How come we get freedom of speech but offended Native American's don't? Also, the mascot is a just metaphor for the deeper truth: America can never admit that what it did to the Native American's was wrong. The mascot issue is just a buffer, a way for the government to subconciously control how Americans feel about Native Americans: we romanticize the people our country ethnically cleansed. Instead of facing this charge, our govenrment instead wants citizens to feel like we are in fact ironically "honoring" Native Americans thought exploiting them and making money off of a distorted view of their culture. And Native Americans do NOT like Chief Wahoo: see this article from 1995. The Supreme Court wouldn't even listen to them. http://18.104.22.168/News/2005/008258.asp
Unbelievable, now mascots are a government conspiracy? Come on, you really can't be serious.
Rancho Cucamonga Cracker Killers
Wow, the amount of people that are just willing to accept that things should stay the way they are because they always have been is sad. Hey, she brings up a good point, and anyone that says they wouldn't be offended if their heritage was being represented in this way is either lying, or disgustingly apathetic. What is just entertainment for some is an incessant mockery for others. And, just because 91% of people say they're okay with something, doesn't make it right.
How exactly is it a mockery? It's a team mascot. It has absolutely nothing to do with the history of native americans, nothing. It's a nickname for a sports franchise, no more no less. I could see if they named the team out of spite, but they didn't, they named the team the Redskins and it was intended to honor the bravery and dignity of Native Americans,regardless of past usage, the word "redskins" today refers to the football team. And if my company was valued at around $1.55 billion for a company I owned that came with a popular worldwide logo/trademark, that everyone knew, I would have that right to keep it the same as what people perceive as just a nickname for a FOOTBALL team. That's all. It's a football team, not some company that is trying to downgrade native Americans or try to be politically incorrect. It's a MASCOT. geez....
Only if a small percentage of people are offended by Chief Wahoo thats reason enough for changing it to one that is inoffensive. I think Chief Wahoo is popular because its one of the last racist caricatures being used in popular media. Its hard to let go of the past but the Wahoo can no longer be seen as an inoffensive cartoon depicting a Native American its a racist caricature.


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PORTLAND A woman was struck by a car while she was walking in Southwest Portland Thursday morning, police said.
The woman was taken to the hospital with traumatic injuries after she was hit in the 9600 block of Southwest Barbur Boulevard at 8:14 a.m., said Sgt. Pete Simpson with Portland police.
The driver remained at the scene and cooperated with investigators.
Police did not release the condition of the woman.
Lanes of Barbur Boulevard were reopened Thursday morning.


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Congratulations to ESA and to the academic and industry teams involved with Rosetta.
Rosetta was one of the first missions to use the IEEE 1355 standard, which was the immediate precursor technology to SpaceWire. Engineers from 4Links contributed to these standards before either of the 1355 or SpaceWire Working Groups was established. We are delighted to see the outcomes from this technology in Rosetta, and we have appreciated the experience from Rosetta that has contributed to the evolution from IEEE 1355 to SpaceWire, and to SpaceWire now being built into more than 100 satellites world-wide.
4Links SpaceWire
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Like SpaceWire itself, 4Links test equipment scales, from testing a single device up to coordinated testing of tens or hundreds of SpaceWire nodes. Easy upgrades minimise equipment costs over the life-cycle of a project. All of these help to solve problems quickly, before they incur expense and delay. Customers using 4Links test equipment have rapidly detected - and solved - problems that had long remained undetected or unsolved.
For customers needing a second opinion on their own designs, or an evaluation of a SpaceWire product that they intend to use, 4Links offers SpaceWire consultancy that builds on the unique capabilities of our test equipment and our unique experience of developing with SpaceWire. We also have developed a range of SpaceWire IP products, from simple interfaces to complex systems-on-chip, all based on the efficient and robust SpaceWire design that has been proven by so many users of our test equipment.
4Links has recently exhibited at four major space-related events:
- the Farnborough International Air Show from 14th-18th July 2014;
- SmallSat in Utah, USA from 2nd-7th August 2014;
- the International SpaceWire Conference in Athens, Greece from 22nd-26th September 2014;
- the International Astronautical Congress in Toronto, Canada from 29th September to 3rd October 2014.
"4Links is the quality supplier of SpaceWire test equipment" Customer Quote


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Local band Dirt Road Addiction hasn't been playing together quite a year yet, but they are gaining a following with their high octane country rock, "bring the party to you," flavor.
The band members range in age from 14 to 49 and comprise a wide variety of musical and vocal talents.
Clay Clear at 14 is the lead guitar, Kevin Ditzfeld plays acoustic, Mike Adams the electric guitar, Sam Schleicher drums, Tommy Hulse bass and J.R. Kenyon sings lead.
"We kind of all met up when we started going to Jam Night out at Dukes and Boots, when they started doing jam nights out there and kind of mixed it up a little bit," Schleicher said. "That's how I met these guys. I know Mike and J.R. and Kevin all played together prior to that. And then Clay and I met up with those guys. And as far as bass players we've kind of had a revolving door, so Tommy is relatively new.
"We bill ourselves as playing contemporary country music with country hits," he added.
Ditzfeld said that even if listeners aren't familiar with country hits, the music is easily recognized because "your folks probably listened to them."
"But at the same time I think we're some of the only ones out there that are playing Luke Bryan and Blake Shelton, Florida Georgia Line and contemporary hits that you hear on the radio," Ditzfeld added. "That's sort of our bread and butter."
"We've gotten calls from some of the other bars around town, so we're hoping to play a few more places in the future," Schleicher said.
"This was all by accident," Adams said. "We all got to playing together, but (Schleicher) had more designs as possibly playing as a band than probably we did."
At this point the group isn't writing any original pieces but want to play for their audiences.
"Exactly what we're doing right now is playing what people like, the best that we can," added Adams. "That's always been my agenda is to play what the people like. Because many times I've seen people not doing that and not getting the crowd involved. And we wanted to be a group that gets the crowd involved."
"I don't think we're really looking at getting famous or too big, but we want to bring the party, and we do," Schleicher said.
"We want our audience to have as much fun, if not more fun, than what we're having," added Ditzfeld.
"That was another one of our motto's or mission statement it says we're going to have fun doing this," said Adams.
"When we get together for practices, we sit down and say what do people want to hear?" Schleicher said. "What can we play that the crowd will enjoy? What will get people up and dancing, what will get them involved? It's not necessarily stuff we want to play."
"It's not always stuff that we necessarily like individually," Adams added. "But as a group we want to play it to appeal to the people. Kevin, he's the one that's always able to figure out what the next new song is."
"He's Nostradamus," said Schleicher, laughing.
"He picks them and try to get them early if we can," Adams added.
"He'll pick a song and nobody's even heard of it," said David Clear, Clay's father.
Ditzfeld will suggest a song he thinks will hit the top of the charts, the group will practice it and soon it becomes popular, the group said.
"They'll practice it and play it, and play it two or more shows before anyone else even hears it on the radio," David said. "Then the next thing you know, we were playing this song a month ago, and it's the No. 3 hit."
"He's just ahead of the curve," Schleicher said. "He'll get music and sometimes we'll go 'nah,' but the next thing you know it's charting."
"Anytime we go out and play it, even at a Jam Night, and we get a good crowd response that seals the deal right there," Schleicher said.
"That goes on the set-list," added Adams.
"That's what's satisfying, we sing and everybody yells and are having an absolute blast," Schleicher said. "We love to see people cut loose, have a good time."
Adams said it's not just the group that's involved with the crowd, but they have many people working behind the scenes to make things happen.
"We have a phenomenal support system," both Schleicher and Adams said, noting the group's wives, friends, moms and neighbors help support them by word of mouth, designing fliers and by bringing crowds of people to performances.
"I don't see everybody with that advantage," added Adams.
The group originally had the goal of learning at least 20 songs, but at present they have 60 to 70 songs on a rotating list they play for gigs. And they do take requests.
"We're playing for the crowd," Schleicher said.
"And if we can't play that particular song, we'll play something similar," Adams added.
Clear said at one point they learned 30 songs in one week.
"That kind of set it up," he added.
"Clay's been playing forever and can outplay all of us," Schleicher said of the 14-year-old.
Clear, an old soul, not only plays lead guitar but can play the violin, accordion, bass and drums.
"To me Jam Nights have been good for learning new songs, just like that," he said. "You don't have make it sound just like the record, but if it sounds decent people will like it."
And how do some of the guys that have a rock background become involved with a country band?
"The new country is the old rock," Adams, a fan of 1980s rock, said.
"When we go out and play and we're playing songs people are familiar with, older classic hits, we play them with a lot more vibe to them," Schleicher said. "We play our songs noticeably heavier."
"I like to think that if you come out to one of our shows Friday night, you're going to feel it Saturday morning," added Ditzfeld.
Some of the songs they are known for playing are "Fishin' in the Dark," by the Nitty Gritty Dirt Band, "Margaritaville," by Jimmie Buffett, "Boys Around Here," by Blake Shelton, and "Copperhead Road," by Steve Earle.
"When we play it, it does not sound like any other band playing it around here," Schleicher said of "Copperhead Road."
"Nobody covers it like we do," added Adams.
"It's like Ozzie Osborn and Steve Earle are jamming out together," Ditzfeld said.
Schleicher said the group wants to keep playing once or twice a month so when people come out it's an "occasion" for them.
"Ideally we want to expand a little bit and start playing at some of the bars in the surrounding area," he added. "And I think that's very likely."
The group will be playing at 8:30 p.m. March 21 at Dickie Doo Bar-B-Que and at Ace's, in Tipton, April 4.
For additional information on Dirt Road Addiction friend them on Facebook or go to youtube.com/DRABandVideos.


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From the article: Best Shows in Las Vegas
I've recently provided you with my favorite Las Vegas shows. Now you may agree,disagree or think me crazy, so I'm giving you a voice. Tell me what I got right, what I got wrong and what I missed all together.
Jersey Boys
- If you only see one show...ever...gotta be the Jersey Boys... the best show on the strip.
- —Guest Matag


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By James Slater: Though unbeaten Welshman Nathan Cleverly never got the big fight he wanted last night in London, the WBO light-heavyweight champ aims to get the mega-fights in the near future. Coming through last night against late replacement of a late replacement, Aleksy Kuziemski, the Pole being a sub for Tony Bellew who was to have replaced original foe Juergen Braehmer, Clev scored a 4th-round TKO win - the first defence of his WBO belt.
Happy at the way he was able to remain focused after a hectic few days that saw two opponents fall out, the 24-year-old wants now to get it on with the big names of the sport. Speaking to Sky Sports after last nights win - his 22nd with 11 KOs - the maths graduate talked of future fights with the likes of Bernard Hopkins, Tavoris Cloud and others.
Ill fight whoever, whatever is out there for me, Cleverly said. There are some big names on my radar. Ive spoken with Frank [Warren] and weve mentioned one or two defences. Bernard Hopkins, Jean Pascal, Tavoris Cloud is another big American name. They are the fights I want to be involved in.
Though a chance at Hopkins Ring magazine and WBC titles looks unlikely for the time being (Chad Dawson seems to be next in line for B-Hop), a fight with IBF ruler Tavoris Cloud could conceivably be made. Cloud must get past the tough and experienced Yusaf Mack next, but the exiting Floridian has spoken in the past about taking on Cleverly.
Never in a dull fight, Cloud told this writer that Cleverly better put down the drugs if he thinks he can beat me, and it would be interesting indeed to see if Cleverly could make Cloud eat his words. Whether in the U.S or in the U.K, this match-up would attract the fans.
Pascal, coming off his loss to Hopkins, could also look Cleverlys way, perhaps seeing his WBO belt as a title worth going for. Hopkins is clearly the top dog at 175, but will he still be around when Cleverly is in a position to fight for the Ring magazine belt? Does the majestic Hopkins even know who Cleverly is?
It sure would be some coup for Frank Warren if he were to somehow entice Hopkins into coming over to the U.K to fight Cleverly. B-Hop has never fought in the U.K before and it would be some great night for fans on this side of the pond if he agreed to do so next year. Hopkins is always on the look out for a new challenge; maybe the idea of a fight in the U.K, against an unbeaten young champion, would inspire him.
Hopkins was wiling to come to Wales to fight a return fight with Joe Calzaghe. Cleverly fancies himself as the new Calzaghe, and maybe he would be able to repeat The Pride of Wales 2008 win?
In other action on the card:
Frankie Gavin UD 12 Young Mutley
Jamie Cox TKO 3 Marcus Portman
Paul Smith TKO 1 Jozsef Matolcsi
Billy Joe Saunders TKO 2 Kevin Hammond
Nicky Cook TKO 6 Youssef Al Hamidi
previous article: Youth Conquered by Experience: Hopkins Defeats Pascal to Claim Light Heavyweight Crown
next article: DeGale And Warren Cry Robbery; Demand Instant Rematch With Groves
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Ottawa Senators v Pittsburgh Penguins - Game One
Liknande bilderVisa alla
- 2013,
- Consol Energy Center,
- Hockeysport,
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- Matchomgång 1,
- NHL Eastern Conference,
- NHL Eastern Conference Semifinals,
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- Pittsburgh,
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- Playoffs,
- Proffsidrottare,
- Semifinal,
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Sidney Crosby of the Pittsburgh Penguins wins a face-off against the... Nyhetsfoto2013,Consol Energy Center,Hockeysport,Horisontell,Ishockey,Matchomgång 1,NHL Eastern Conference,NHL Eastern Conference Semifinals,National Hockey League,Ottawa Senators,Pittsburgh,Pittsburgh Penguins,Playoffs,Proffsidrottare,Semifinal,Sidney Crosby,Sport,Stanley Cup Playoffs,USA,VinnaPhotographer Justin K. AllerCollection: Getty Images Sport 2013 Getty ImagesPITTSBURGH, PA - MAY 14: Sidney Crosby #87 of the Pittsburgh Penguins wins a face-off against the Ottawa Senators in Game One of the Eastern Conference Semifinals during the 2013 NHL Stanley Cup Playoffs at Consol Energy Center on May 14, 2013 in Pittsburgh, Pennsylvania. The Penguins defeated the Senators 4-1. (Photo by Justin K. Aller/Getty Images)


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silverstreak wrote:Not a particularly memorable quote but in context it's brilliant.'Dark in here isn't it'. Not a quote as such but a situation laid out by Pterry in Reaperman.I just think that the sequence of Death joining the Klatchian Foreign Legion is absolutely wonderful,in particular when he is trying to get into the fort.
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May 22, 2012
Photo: David McGregor Members of Brookwood's baseball team celebrate the Broncos 7-4 game three victory over Grayson in the Class AAAAA State semifinals on Tuesday afternoon in Snellville. The Broncos will face county rival Parkview for the state title.
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Woodward pitches Broncos into finals
SNELLVILLE -- One of the most coveted things for a pitcher is to be the starter in a series-clinching game, surpassed only by being the one standing on the mound when that game is won.. Brookwood starter Ryan Woodard experienced both of those on Tuesday night.. Facing region-rival
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Code Section 368(a)(1)(E) generally allows a corporation to rejigger its debt and equity structure and then swap old interests for new interests with its stock and security holders, with no gain or loss to the current owners. A recent Legal Advice by Field Attorneys demonstrates an important limit to such E reorganization nonrecognition treatment.
To qualify for nonrecognition treatment, the old stock and securities that are exchanged for recapitalized stock and securities must have the same value. Kohler, TC Memo 2006-152. In the Legal Advice, the IRS determined that the stock surrendered by the stockholder had little or no value, and that the new stock issued in the reorganization did have value. Thus, nonrecognition treatment did not apply and the stockholder had to recognize gain on the transaction.
Thus, taxpayers need to keep in mind that an E reorganization is not an open door to any type of exchanges of stock and securities arising in a reorganization setting – an equal exchange of value requirement still applies (even though in many cases that is easily satisfied via a pro rata exchange of all existing equity and security interests for the newly issued interests).
Legal Advice Issued by Field Attorneys 20131601F
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Charles (Chuck) Rubin, Gutter Chaves Josepher Rubin Forman Fleisher P.A.
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Brisbane Roar defender Shane Stefanutto puts the club's great start to the season down to the fact that everyone involved is on the same page.
The 30-year old has been a big part of why the Roar find themselves third on the table with a game in hand and says it is a matter of keeping things simple and playing a style that all players are comfortable with.
"I guess there is a whole range of things why we have started so well," Stefanutto told tribalfootball.com. "Keeping clean sheets helps but we are working really hard in games and at training every week. We all know our jobs and how we want to play and I guess that helps when everyone is on the same page. And we're all working for each other which is a really good sign."
The Roar have managed to keep three clean sheets in their first three outings but Stefanutto insists there hasn't been too much focus on that as an area of the game they want to excel at.
"I wouldn't say a huge emphasis, the main thing we concentrate on is playing our own game," he added. "Defensively we have been working really well together as a unit. It starts with good pressure from our strikers, and finishes with (goalkeeper) Micky (Theoklitos) making fantastic saves in goal when he needs to."
There has been much talk about Brisbane's style of game under coach Ange Postecoglou and Stefanutto admitted that so far it had worked but was well aware the players have to continue working in the same manner to keep achieving positive results.
"I feel that we play a good style of football, and if we play the way we want to play then we will always create chances," he said. "I think it's more important to keep creating a lot of good chances because eventually we will convert these chances into goals. At the back we just need to keep doing our job and limit the amount of opportunities we give the opposition."


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Seth J. WatersWrong Seth J. Waters?
Local Address: Boston, Massachusetts, United States
Model United Nations
I was born at Portsmouth Regional Hospital. I lived in Rochester, NH until the age of 2. I moved to Fernanadina Beach, FL and lived there until the summer after 2nd grade. I then moved up to Dover, NH and into the house my mother grew up in. I attend...
Pro2015_Iteration4_1.9[03] SEIDXWK-22


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Refreshing Look to Come for the Oakhurst Home
Oakhurst, the home of George and Frances Ball and their daughter Elisabeth, celebrates both its 120th and its 20th anniversaries this year. The house was built in 1895 and opened for public tours on May 27, 1995. It was designed by Indianapolis architect Louis Gibson who wanted the house to fit naturally into the oak grove selected by the family. Gibson did not paint the house, expecting that the wood siding and shingles would age naturally. Eventually, though, the house was both varnished and painted.
Ball Jars and Moonshiners
The Prohibition era of the 1920s and early 1930s generated plenty of colorful stories about rumrunners, bootleggers, and speakeasies. Moonshiners—those savvy entrepreneurs who produced their own high-proof distilled spirits—have their very own colorful Ball canning jar stories.
Quilts Displaying History
The history of Ball Corporation in a quilt! In 1976, this is what well-known Muncie artist Barbara Moll created for Ball Corporation's new headquarters. Her five-panel creation documented the history of the company from its founding in 1880 in Buffalo, New York to the company's entry into aerospace to the lid shortage of 1975.
The Magical Christmas Decorations of Ball Stores
Those of us of a certain age remember, with great fondness, the wonderful decorations at Ball Stores in downtown Muncie. Recently, I shared some photos of the decorations with the audience at the latest Tea & Talk at Minnetrista. During tea time, there was lots of chatter at the tables as new and old friends exchanged memories. It was especially great to meet one gentleman in the audience who had worked at Ball Stores for more than thirty-five years. Some of those years were spent working on the windows, and he told us that many of the decorations had originally been displayed at Saks Fifth Avenue!
The Orchard Shop at Minnetrista
When you buy your produce at Farmers Market at Minnetrista or your fresh cider and bag of apples at The Orchard Shop, you become part of a long Minnetrista tradition. Likewise, the children who learn about Johnny Appleseed and watch cider being pressed and tour the orchard to learn about apples are also part of the tradition.
Lucina Amelia Ball A Professional Woman Ahead of the Times
Lucina Ball did not hesitate to offer sisterly advice to her younger brothers—Lucius, William, Edmund, Frank, and George. In a letter written in 1892, she suggested that the brothers "… get up a 'syndicate' to buy a whole square and build it all equally good, and so make your own surroundings." They took her advice then, as they so often did, and purchased a thirty-three acre tract on the White River.
Lucy Balls Very Eventful Wedding
It was a wild and wooly evening when Lucy Ball, oldest daughter of Frank C. and Elizabeth Brady Ball, married Alvin Owsley on May 16, 1925. The wedding was held at the home of the bride's parents, just as her sister Margaret's wedding was the previous year. The setting was lovely, the guests were many, and the bride and groom had their nerves under control. The weather, however, did not cooperate.
A Ball Jar That Isnt a Fruit Jar
Jars, jars, and more jars. In addition to more than 1,000 fruit jars, the Minnetrista Heritage Collections includes approximately 100 packer jars. So what is a packer jar?
Ball Brothers Company Sponsors a Canning Contest
What a great idea! Give away a jar, encourage canning, and, of course, sell a few products. That's exactly what Ball Brothers Company did for the International Canning Contests held during the 1930s.
A Childrens Party That Wasnt for Children
The very dapper George A. Ball dressed like a child for a party at his home! How could that be and why? According to Emily Kimbrough, in her delightful memoir of early 20th century Muncie, not only was George dressed in young boy's clothing, Frances dressed like a little girl.


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"Classic Girl" is a song by alternative rock band Jane's Addiction, released on their 1990 album, Ritual de lo Habitual.
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Big business on Sona: Exhaustive, long but short on road maps
MANILA, Philippines—Long and exhaustive, but short on road maps.
That's how big business groups described President Aquino's State of the Nation Address (Sona) on Monday.
Officials of the Philippine Chamber of Commerce and Industry (PCCI), Management Association of the Philippines (MAP) and Philippine Exporters Confederation Inc. (Philexport) said in telephone interviews they had expected a concrete set of action plans that would enable the country to achieve target growths.
Philexport president Sergio R. Ortiz-Luis noted that the address was really more of a "report of what has been happening."
"Nothing much new in the speech, so I wished there'd be more of road maps on infrastructure and timetables. I was also hoping to hear more on small and medium enterprises," Ortiz-Luis explained.
"I was also hoping that there would be a mention of mining as well. But I'm happy that the President talked about tourism. Then again, it's just a report of accomplishments and not a plan," he said. "It's especially crucial that President Aquino mention a more specific timetable because we're already halfway through his administration."
Very positive things
PCCI president Miguel B. Varela said it was "very good to hear very positive things in the country and the opportunities that have opened."
"You can see the leader's determination to work hard to achieve further growth. He certainly put things in proper perspective," Varela said. "He has mentioned his push for legislative initiatives like the rationalization of incentives, which is important."
Varela, however, noted that there had been no mention of specific actions and activities, which he said should be defined to attain growth targets.
"I believe the President sounded the need for faster and better results, knowing the few remaining years in office. Overall, I am satisfied with the speech. I just hope the rest of government, especially the judiciary and legislature, follow his lead," Varela said.
Less specific
But he pointed out that while in some areas the President was specific, such as infrastructure, in other areas, he was less so.
"On trade and industry, plans and road maps were not given. I would have wanted a statement on how the Philippines would be competitive given the challenges of the Asean Economic Community in 2015," he said.
Message loud and clear
MAP president Melito S. Salazar Jr. noted the Sona was an "exhausting speech."
"But the message was loud and clear—gains made because of good governance, less than good performance means departure of officials concerned, determination to demand better performance or else, infrastructure improved and more for the future," he said.
"I would have wanted the President to identify areas where the public could do their share. A call for national discipline and following rules and regulations, especially traffic laws, would have been good," Salazar said.
Rhicke Jennings, president of the American Chamber of Commerce in the Philippines, said in an e-mail: "We would have liked to see more discussion of the priorities listed in the business groups' June 19 letter to President Aquino. The Philippines still has very far to travel on its journey to sustained and inclusive growth and much still remains to be accomplished by this administration."
Senate President Pro Tempore Ralph Recto said the Sona was a "comprehensive manual" on how to achieve inclusive growth.
"It is a manual brimming with details, from income-increasing intercropping schemes to refrigerating lapu-lapu, from the number of houses to be built to where flood control projects will be constructed, from entitlements to be reformed to laws to be passed," Recto said.
Transformative governance
Albay Gov. Joey Salceda welcomed two major priority projects in Albay cited by Aquino: the P3.4-billion Bicol International Airport in Daraga town and the Bicol Regional Training and Teaching Hospital with the capability to undertake open-heart surgery.
Salceda said the Sona was a reflection of a "transformative governance" marked by innovation, creativity, out-of-box and commonsensical solutions in addressing both long-term problems and everyday issues.
"The Aquino administration engages the participation of the common tao (higher SSS premiums and higher LRT/MRT fares) as well as the transformation of public institutions through fiscal discipline," noted Salceda, a former presidential economic adviser.
In Baguio City, Bishop Carlito Cenzon said: "The majority of the people, particularly the poor, do not feel the 'trickle-down effect.' If there's anything, there's only Pantawid, but that is only a short-term solution to address the needs of the poor."
12 million unemployed
In Isabela, Randy Felix Malayao, a convener of Bagong Alyansang Makabayan, said the President's rosy economic picture had been refuted by the think tank Ibon, which put at 12 million, the number of unemployed and underemployed Filipinos.
The family of slain Palawan journalist Gerry Ortega welcomed the reference to the ongoing murder trial. "We hope his remarks on the Reyes brothers' escape will spark renewed police efforts to flush out the suspects from their hiding place," the victim's widow, Patria Gloria, said in a text message.—With reports from Norman Bordadora in Manila; Mar S. Arguelles, Jofel Joyce Lancion, Redempto Anda and Delfin Mallari Jr., Inquirer Southern Luzon; Desiree Caluza and Villamor Visaya Jr., Inquirer Northern Luzon; and Anselmo Roque, Inquirer Central Luzon
Originally posted at 9:23 p.m. | July 22, 2013
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The goal of the English Associate in Arts degree program is to prepare students to transfer to a four-year college or university to pursue a degree in English. The program includes Rose State College degree requirements and those courses generally completed in the first two years of a four-year English curriculum. It conforms to the articulation agreement among the state of Oklahoma two-year and four-year institutions of higher education. Specific program objectives include providing students with:
Options abound, from American and English literature to world literature, Black literature, American Indian literature, and creative writing. Students are well prepared to pursue a bachelor's degree in English.
View the many possibilities and directions available with this degree.
New York Times Bestselling author and Rose State College Professor William Bernhardt's story about the legendary Prohibition-era lawman Eliot Ness will be made into a miniseries for NBC.
Details of the miniseries.
William Bernhardt's official site.
Video profile of William Bernhardt.
Rose State College humanities professor Tim Tharp's 2008 young-adult novel "The Spectacular Now," a finalist for the National Book Award that year, was made into a film of the same name. The film premiered at the Sundance Film Festival and was chosen as winner at Oklahoma City's 2013 deadCENTER Film Festival. "The Spectacular Now" is now available on DVD and Blu-ray.
View details of his book.
Access more information on Tim Tharp and his books.
Video profile of Tim Tharp shot during the Writing Short Course.
Official trailer for "The Spectacular Now."
Rose State College humanities professor Tim Tharp is a recipient of the 2014 Oklahoma Book Award for his young adult novel, "Mojo," which was published in April 2013.
Read the details of the 2014 Oklahoma Book Award for "Mojo" here.
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Steamy conditions for your Sunday, storms possibleUPDATED 7:49 AM CDT Jun 23, 2013
KMBC 9 meteorologist Lisa Teachman says Sunday looks hot and humid, with a chance of storms firing up later in the day that could bring high winds and hail.
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The prevalence of BRCA mutations among familial breast cancer patients in Korea: results of the Korean Hereditary Breast Cancer study
- Sang-Ah Han,
- Sung-Won Kim,
- Eunyoung Kang,
- Sue K. Park,
- Sei-Hyun Ahn,
- Min Hyuk Lee,
- Seok-Jin Nam,
- Wonshik Han,
- Young Tae Bae,
- Hyun-Ah Kim,
- Young Up Cho,
- Myung Chul Chang,
- Nam Sun Paik,
- Ki-Tae Hwang,
- Sei Joong Kim,
- Dong-Young Noh,
- Doo Ho Choi,
- Woo-Chul Noh,
- Lee Su Kim,
- Ku Sang Kim,
- Young Jin Suh,
- Jeong Eon Lee,
- Yongsik Jung,
- Byung-In Moon,
- Jung-Hyun Yang,
- Byung Ho Son,
- Cha Kyong Yom,
- Sung Yong Kim,
- Hyde Lee,
- Sung Hoo Jung,
- The KOHBRA Research Group and the Korean Breast Cancer Society
- … show all 31 hide
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* Final gross prices may vary according to local VAT.Get Access
The primary aim of this study was to estimate the prevalence of BRCA1/2 mutations among familial breast cancer (BC) patients in Korea. We analyzed 775 familial BC patients who were enrolled in the Korean Hereditary Breast Cancer (KOHBRA) study and treated at 36 institutions between May 2007 and May 2010. Patients with familial BC were defined as BC patients with family histories of BC or ovarian cancer (OC) in any relatives. All probands received genetic counseling and BRCA genetic testing was performed after obtaining informed consent. The mean age of BC diagnosis was 43.6 years. The numbers of probands with family histories of BC only and OC only were 682 and 93, respectively. The overall prevalence of the BRCA mutation among familial BC patients was 21.7 % (BRCA1 9.3 % and BRCA2 12.4 %). Subgroup analyses observed prevalences of the BRCA mutation as follows: 19.6 % among patients with BC family history only (BRCA1 7.6 % and BRCA2 12.0 %) and 36.6 % among patients with OC family history only (BRCA1 21.5 % and BRCA2 15.1 %). Most of the subgroups satisfied the 10 % probability criteria to undergo BRCA testing. However, the prevalence of the BRCA mutations among subgroups that had 2 BC patients in a family with both age at diagnosis of more than 50 years old did not reach the 10 % criteria (4.1 %). Korean familial BC patients are good candidates for BRCA testing even when they have family histories of single breast cancers. However, proband age at diagnosis should be carefully considered when selecting patients for testing.
- Miki, Y, Swensen, J, Shattuck-Eidens, D, Futreal, PA, Harshman, K, Tavtigian, S, Liu, Q, Cochran, C, Bennett, LM, Ding, W (1994) A strong candidate for the breast and ovarian cancer susceptibility gene BRCA1. Science 266: pp. 66-71 CrossRef
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- Leon Matsuda, ML, Liede, A, Kwan, E, Mapua, CA, Cutiongco, EM, Tan, A, Borg, A, Narod, SA (2002) BRCA1 and BRCA2 mutations among breast cancer patients from the Philippines. Int J Cancer 98: pp. 596-603 CrossRef
- Hedau, S, Jain, N, Husain, SA, Mandal, AK, Ray, G, Shahid, M, Kant, R, Gupta, V, Shukla, NK, Deo, SS, Das, BC (2004) Novel germline mutations in breast cancer susceptibility genes BRCA1, BRCA2 and p53 gene in breast cancer patients from India. Breast Cancer Res Treat 88: pp. 177-186 CrossRef
- Khoo, US, Chan, KY, Cheung, AN, Xue, WC, Shen, DH, Fung, KY, Ngan, HY, Choy, KW, Pang, CP, Poon, CS, Poon, AY, Ozcelik, H (2002) Recurrent BRCA1 and BRCA2 germline mutations in ovarian cancer: a founder mutation of BRCA1 identified in the Chinese population. Hum Mutat 19: pp. 307-308 CrossRef
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- Easton, DF, Steele, L, Fields, P, Ormiston, W, Averill, D, Daly, PA, McManus, R, Neuhausen, SL, Ford, D, Wooster, R, Cannon-Albright, LA, Stratton, MR, Goldgar, DE (1997) Cancer risks in two large breast cancer families linked to BRCA2 on chromosome 13q12-13. Am J Hum Genet 61: pp. 120-128 CrossRef
- Ferrone, CR, Levine, DA, Tang, LH, Allen, PJ, Jarnagin, W, Brennan, MF, Offit, K, Robson, ME (2009) BRCA germline mutations in Jewish patients with pancreatic adenocarcinoma. J Clin Oncol 27: pp. 433-438 CrossRef
- Ghiorzo, P, Pensotti, V, Fornarini, G, Sciallero, S, Battistuzzi, L, Belli, F, Bonelli, L, Borgonovo, G, Bruno, W, Gozza, A, Gargiulo, S, Mastracci, L, Nasti, S, Palmieri, G, Papadia, F, Pastorino, L, Russo, A, Savarino, V, Varesco, L, Bernard, L, Bianchi Scarra, G (2011) Contribution of germline mutations in the BRCA and PALB2 genes to pancreatic cancer in Italy. Fam Cancer.
- Song, CG, Hu, Z, Yuan, WT, Di, GH, Shen, ZZ, Huang, W, Shao, ZM (2006) BRCA1 and BRCA2 gene mutations of familial breast cancer from Shanghai in China. Zhonghua Yi Xue Yi Chuan Xue Za Zhi 23: pp. 27-31
- Rashid, MU, Zaidi, A, Torres, D, Sultan, F, Benner, A, Naqvi, B, Shakoori, AR, Seidel-Renkert, A, Farooq, H, Narod, S, Amin, A, Hamann, U (2006) Prevalence of BRCA1 and BRCA2 mutations in Pakistani breast and ovarian cancer patients. Int J Cancer 119: pp. 2832-2839 CrossRef
- Thirthagiri, E, Lee, SY, Kang, P, Lee, DS, Toh, GT, Selamat, S, Yoon, SY, Taib, NA, Thong, MK, Yip, CH, Teo, SH (2008) Evaluation of BRCA1 and BRCA2 mutations and risk-prediction models in a typical Asian country (Malaysia) with a relatively low incidence of breast cancer. Breast cancer res: BCR 10: pp. R59 CrossRef
- Title
- The prevalence of BRCA mutations among familial breast cancer patients in Korea: results of the Korean Hereditary Breast Cancer study
- Journal
Familial Cancer
Volume 12, Issue 1 , pp 75-81
- Cover Date
- 2013-03-01
- 10.1007/s10689-012-9578-7
- Print ISSN
- 1389-9600
- Online ISSN
- 1573-7292
- Publisher
- Springer Netherlands
- Additional Links
- Topics
- Keywords
- Hereditary breast neoplasm
- Mutation
- Prevalence
- Industry Sectors
- Authors
- Sang-Ah Han (1)
- Sung-Won Kim (2)
- Eunyoung Kang (2)
- Sue K. Park (3)
- Sei-Hyun Ahn (4)
- Min Hyuk Lee (5)
- Seok-Jin Nam (6)
- Wonshik Han (7)
- Young Tae Bae (8)
- Hyun-Ah Kim (9)
- Young Up Cho (10)
- Myung Chul Chang (11)
- Nam Sun Paik (12)
- Ki-Tae Hwang (13)
- Sei Joong Kim (10)
- Dong-Young Noh (7)
- Doo Ho Choi (14)
- Woo-Chul Noh (9)
- Lee Su Kim (15)
- Ku Sang Kim (16)
- Young Jin Suh (17)
- Jeong Eon Lee (6)
- Yongsik Jung (16)
- Byung-In Moon (12)
- Jung-Hyun Yang (18)
- Byung Ho Son (4)
- Cha Kyong Yom (2)
- Sung Yong Kim (5)
- Hyde Lee (19)
- Sung Hoo Jung (20)
- The KOHBRA Research Group and the Korean Breast Cancer Society
- Author Affiliations
- 1. Department of Surgery, Kyung Hee University Hospital at Gangdong, Seoul, Korea
- 2. Department of Surgery, Breast and Endocrine Service, Seoul National University Bundang Hospital, 300 Gumidong, Bundang-gu, Seongnam-si, Gyeonggi-do, 463-707, Korea
- 3. Department of Preventive Medicine and Biomedical Science, Cancer Research Institute, Seoul National University College of Medicine, Seoul, Korea
- 4. Department of Surgery, College of Medicine, University of Ulsan and Asan Medical Center, Seoul, Korea
- 5. Department of Surgery, College of Medicine, Soonchunhyang University, Seoul, Korea
- 6. Department of Surgery, Samsung Medical Center, Sungkyunkwan University, Seoul, Korea
- 7. Department of Surgery, Cancer Research Institute, Seoul National University College of Medicine, Seoul, Korea
- 8. Department of Surgery, Pusan National University Hospital, Pusan, Korea
- 9. Department of Surgery, Korea Institute of Radiological and Medical Science, Korea Cancer Center Hospital, Seoul, Korea
- 10. Department of Surgery, Inha University Hospital, Incheon, Korea
- 11. Department of Surgery, Dankook University Hospital, Cheonan, Korea
- 12. Department of Surgery, Ewha Womans' University Hospital, Seoul, Korea
- 13. Department of Surgery, Seoul National University Boramae Hospital, Seoul, Korea
- 14. Department of Radiation Oncology, Samsung Medical Center, Sungkyunkwan University, Seoul, Korea
- 15. Breast and Endocrine Surgery, Hallym University Sacred Heart Hospital, Anyang, Korea
- 16. Department of Surgery, Ajou University School of Medicine, Suwon, Korea
- 17. Department of Surgery, St. Vincent's Hospital, The Catholic University of Korea School of Medicine, Suwon, Korea
- 18. Department of Surgery, Konkuk University Medical Cencer, Seoul, Korea
- 19. Department of Surgery, Yonsei University College of Medicine, Seoul, Korea
- 20. Department of Surgery, Chonbuk National University Hospital, Jeonju, Korea