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Press release from Marketwire
Progressive Waste Solutions Ltd. Reports Results for the Three and Nine Months Ended September 30, 2012
Core business continues to demonstrate stability in spite of steep declines in recycled commodity prices in the quarter
Friday, October 26, 2012
Progressive Waste Solutions Ltd. Reports Results for the Three and Nine Months Ended September 30, 201206:30 EDT Friday, October 26, 2012TORONTO, ONTARIO--(Marketwire - Oct. 26, 2012) -Progressive Waste Solutions Ltd. (the "Company") (TSX:BIN)(NYSE:BIN) reported financial results for the three and nine months ended September 30, 2012. Consolidated core price grew 1.6% quarter-over-quarter Two strategic "tuck-in" acquisitions completed in the U.S. northeast and one in Canada Excluding the quarter-over-quarter decline of $12.4 million attributable to recycled commodity prices, as well as one-time items and the impact of foreign currency exchange ("FX"), consolidated revenue and adjusted EBITDA(A) would have increased 2.5% and 6.7% Adjusted earnings per share of $0.28 in the third quarter versus $0.29 in the year-ago quarter. The decline in recycled commodity prices in the third quarter reduced adjusted earnings per share by $0.07. Updated outlook for 2012 Completed refinancing of credit facility and received a rating upgrade from Moody's Management Commentary(All amounts are in United States ("U.S.") dollars, unless otherwise stated)"In the third quarter, our base business continued to demonstrate stability, with resilience in our commercial and residential collection service lines. We achieved consolidated revenues of $487.2 million and adjusted EBITDA(A) of $136.9 million, with core price growth of 2.2% in Canada and 1.2% in the U.S., for a combined core price increase of 1.6%. Our strong core price activity was offset by a mixed volume performance relative to the year-ago quarter and lower recycled commodity prices continued to affect our consolidated performance, as it has affected the solid waste services industry in North America throughout this year. Excluding the $12.4 million quarter-over-quarter impact of lower recycled commodity prices, at parity, as well as the impact of one-time items and FX, revenue would have increased 2.5% to $502.8 million and adjusted EBITDA(A) would have increased 6.7% to $151.8 million. Adjusted EBITDA(A) in the third quarter includes one-time charges of $1.4 million related to a tax assessment and end of collection contract retention payments," said Joseph Quarin, Vice Chairman and Chief Executive Officer, Progressive Waste Solutions Ltd. "Our Canadian and U.S. south operations continued to perform well in the third quarter, with quarter-over-quarter revenue growth of 1.2% and 2.7%, respectively, driven by higher pricing in our collection business and contributions from strategic 'tuck-in' acquisitions. Adjusted EBITDA(A) margins in these segments remained solid, at 36% in Canada and 28.3% in the U.S. south, in spite of lower recycled commodity prices."Mr. Quarin continued, "In our U.S. northeast segment, on a sequential basis and as a result of our focused efforts, pricing remained stable in our collection and disposal service lines, cost controls were maintained, and adjusted EBITDA(A) margins improved to 21.8%. Weak economic conditions in this region continued to affect third-party volume at our transfer stations and landfills and delayed special waste activity as well. During the quarter, we acquired two collection companies in this region that will help increase internal waste volumes at our landfills and which will partially offset the decline in disposal volumes. We are making progress on our plan to improve our performance in our U.S. northeast operations and are committed to further development and integration of our assets in this region." "In addition to investing in 'tuck-in' acquisitions in the third quarter, we continued to deploy capital towards several internal infrastructure projects that we expect will deliver attractive returns in 2013 and beyond. With our strong free cash flow(B) profile, we have the resources to enhance the strategic position of Progressive Waste Solutions, with the objective of creating long-term shareholder value. Given the current interest rate environment and the availability of attractive debt financing, we have taken the opportunity to further position Progressive Waste Solutions for future growth with a refinancing of our credit facilities, which will give us a significant source of liquidity as we continue to grow our business.""We are updating our guidance for 2012 given the significant decline in recycled commodity prices in the third quarter, combined with lower transfer station and landfill volumes, including delayed special waste activity, in our U.S. northeast segment," Mr. Quarin added. "Our outlook for the balance of 2012 assumes recycled commodity prices in the fourth quarter will not improve from September levels."Reported revenues decreased ($3.3) million or (0.7)% from $490.5 million in the third quarter of 2011 to $487.2 million in the third quarter of 2012. Expressed on a reportable basis, at parity, revenues were flat quarter over quarter due in large part to a 3.9% increase attributable to acquisitions, and higher overall pricing and fuel surcharges being offset by lower volumes and commodity values. The impact on comparative revenues resulting from a decline in recycled commodity prices was 2.5%. Adjusted EBITDA(A) was $136.9 million ($138.3 million excluding one-time items), or (2.9)% lower, in the third quarter of 2012 versus $141.0 million in the same quarter a year ago. Adjusted operating income(A) was $66.8 million, or (8.0)% lower, in the quarter compared to $72.6 million in the same period last year. Adjusted net income(A) was $32.1 million, or $0.28 per weighted average diluted share ("diluted share"), compared to $35.1 million, or $0.29 per diluted share in the comparative period. Share repurchases in the quarter totalled $5.2 million and dividends paid to shareholders totalled $16.2 million. Together, this represents a combined $21.4 million return to shareholders in the third quarter of 2012. Year-to-date, reported revenues increased $18.0 million or 1.3% from $1,382.9 million in 2011 to $1,400.9 million. Expressed on a reportable basis, and assuming Canadian and U.S. dollar parity, revenues increased 2.3% on a comparative basis for the nine months ended. This increase is due in large part to a 3.9% increase attributable to acquisitions and higher overall pricing and fuel surcharges, which outpaced lower volumes and commodity values. The year-to-date impact on comparative revenues resulting from a decline in recycled commodity prices was 1.8%. For the year-to-date period, adjusted EBITDA(A) was $385.9 million ($387.3 million excluding one-time items), or (3.7)% lower, in 2012 versus $400.7 million in the same period last year. Excluding the impact of FX and the decline in recycled commodity pricing, adjusted EBITDA(A) would have been $415.7 million ($417.1 million excluding one-time items) on a year-to-date basis. Adjusted operating income(A) was $184.5 million, or (9.9)% lower, in the year-to-date period than the $204.9 million recorded in the same period last year. Adjusted net income(A) was $85.0 million, or $0.73 per diluted share, compared to $97.0 million, or $0.80 per diluted share in the comparative period. Share repurchases year-to-date totalled $65.6 million and dividends paid to shareholders totalled $47.2 million. For the current year-to-date period, this represents a combined $112.8 million return to shareholders compared to $85.5 million a year ago. AcquisitionsWe invested $72.5 million in the third quarter and $122.6 million year-to-date on strategic "tuck-in" acquisitions in various markets. In the third quarter, we completed three acquisitions, two in the U.S. northeast and one in Canada. Year-to-date, we completed a total of 12 acquisitions, five in the U.S. south, two in the U.S. northeast and five in Canada. We continue to actively identify collection and transfer assets in and around the markets we serve in order to improve asset density and facilitate higher internalization at our landfills. We also evaluate new markets for growth opportunities. Other highlights for the three and nine months ended September 30, 2012In October 2012, we entered into a consolidated $2,350 million Credit Agreement and concurrently repaid all outstanding indebtedness under our U.S. and Canadian credit facilities and our series B, senior secured debenture. In August 2012, we received approval to renew our normal course issuer bid for an additional 12 months. In July 2012, we exercised a portion of the accordion feature on our U.S. credit facility which increased our available lending by $131.1 million to $1.25 billion. In July 2012, we exercised a portion of the accordion feature on our Canadian credit facility which increased our available lending by $70.0 million to $595 million. In March 2012, we received a modification to our operating permit for the Ridge landfill that increased the amount of annual waste allowable at the site from 0.9 to 1.3 million tonnes annually. We repurchased and cancelled approximately 3.2 million common shares year-to-date. At the close of the period, there were 115.3 million common shares outstanding. 2012 OutlookThe Company is updating its outlook provided on July 25, 2012. The outlook assumes no change in the current economic environment and assumes recycled commodity pricing remains at September 2012 levels. Our outlook has been prepared assuming parity between the Canadian and U.S. dollar.The outlook provided below is forward-looking. Our actual results may differ materially and are subject to risks and uncertainties.Revenue continues to be estimated at approximately $1,880 million Adjusted EBITDA(A) is estimated to be $515 to $520 million Amortization expense, as a percentage of revenue, is estimated to be about 14.2% Capital and landfill expenditures, including internal infrastructure, are estimated to be $240 to $250 million The effective tax rate is estimated to be between 39% and 40% of income before income tax expense and net loss from equity accounted investee Cash taxes are estimated to be $50 million Adjusted net income(A) per diluted share is estimated to be $0.99 to $1.00 Free cash flow(B) is estimated to be at the low end of the range provided of $170 to $190 million, including additional internal infrastructure investment Expected annual cash dividend of $0.56 Canadian ("C") per share, payable on a quarterly basis Progressive Waste Solutions Ltd.Condensed Consolidated Statements of Operations and Comprehensive Income or Loss("Statement of Operations and Comprehensive Income or Loss")For the periods ended September 30, 2012 and 2011 (unaudited - stated in accordance with accounting principles generally accepted in the U.S. and in thousands of U.S. dollars, except share and net income or loss per share amounts)Three months endedNine months ended2012201120122011REVENUES$487,209$490,522$1,400,919$1,382,884EXPENSESOPERATING297,309294,475849,528820,784SELLING, GENERAL AND ADMINISTRATION56,75051,437170,926160,422RESTRUCTURING-73-1,198AMORTIZATION70,32869,408202,352198,694NET GAIN ON SALE OF CAPITAL ASSETS(225)(1,092)(975)(2,871)OPERATING INCOME63,04776,221179,088204,657INTEREST ON LONG-TERM DEBT14,69615,30342,93448,363NET FOREIGN EXCHANGE LOSS (GAIN)5(51)12(83)NET GAIN ON FINANCIAL INSTRUMENTS(3,988)(1,528)(1,816)(3,883)OTHER-32105827INCOME BEFORE INCOME TAX EXPENSE AND NET LOSSFROM EQUITY ACCOUNTED INVESTEE52,33462,465137,853159,433INCOME TAX EXPENSECurrent14,21913,72938,31238,424Deferred5,9468,35716,90720,89920,16522,08655,21959,323NET LOSS FROM EQUITY ACCOUNTED INVESTEE11323058NET INCOME32,15840,34782,604100,052Foreign currency translation adjustment19,358(44,594)18,024(25,840)Derivatives designated as cash flow hedges, net of income tax ($532) and $226 (2011 - $2,563 and $3,411)989(4,767)(421)(6,340)Settlement of derivatives designated as cash flow hedges, net of income tax $72 and ($7) (2011 - ($78) and ($481))(131)14715895OTHER COMPREHENSIVE INCOME (LOSS)20,216(49,214)17,618(31,285)COMPREHENSIVE INCOME (LOSS)$52,374$(8,867)$100,222$68,767Net income per weighted average share, basic$0.28$0.33$0.71$0.83Net income per weighted average share, diluted$0.28$0.33$0.71$0.83Weighted average number of shares outstanding (thousands), basic115,268120,767116,519121,067Weighted average number of shares outstanding (thousands), diluted115,268120,767116,519121,067Progressive Waste Solutions Ltd.Condensed Consolidated Balance Sheets ("Balance Sheet")September 30, 2012 (unaudited) and December 31, 2011 (stated in accordance with accounting principles generally accepted in the United States of America ("U.S.") and in thousands of U.S. dollars except issued and outstanding share amounts)September 30,December 31,20122011ASSETSCURRENTCash and cash equivalents$15,423$14,143Accounts receivable234,894212,099Other receivables442414Prepaid expenses36,62731,484Restricted cash475452Other assets2,3211,972290,182260,564OTHER RECEIVABLES187376FUNDED LANDFILL POST-CLOSURE COSTS9,8779,200INTANGIBLES249,407257,731GOODWILL840,437774,409LANDFILL DEVELOPMENT ASSETS19,05615,869DEFERRED FINANCING COSTS15,38519,983CAPITAL ASSETS855,593776,058LANDFILL ASSETS966,815958,792INVESTMENT IN EQUITY ACCOUNTED INVESTEE4,0773,973OTHER ASSETS918649$3,251,934$3,077,604LIABILITIESCURRENTAccounts payable$123,275$115,292Accrued charges118,743124,496Dividends payable16,39014,540Income taxes payable1,58510,693Deferred revenues19,10517,645Current portion of long-term debt1,5001,500Landfill closure and post-closure costs7,5729,468Other liabilities3,1483,484291,318297,118LONG-TERM DEBT1,467,8471,311,593LANDFILL CLOSURE AND POST-CLOSURE COSTS103,66292,034OTHER LIABILITIES7,8597,484DEFERRED INCOME TAXES101,03176,2341,971,7171,784,463SHAREHOLDERS' EQUITYCommon shares (authorized - unlimited, issued and outstanding - 114,949,780 (December 31, 2011 - 118,040,683))1,773,4341,824,231Restricted shares (issued and outstanding - 212,500 (December 31, 2011 - 252,150))(4,364)(5,353)Additional paid in capital2,3082,789Accumulated deficit(447,028)(466,775)Accumulated other comprehensive loss(44,133)(61,751)Total shareholders' equity1,280,2171,293,141$3,251,934$3,077,604Progressive Waste Solutions Ltd.Condensed Consolidated Statements of Cash Flows ("Statement of Cash Flows")For the periods ended September 30, 2012 and 2011 (unaudited - stated in accordance with accounting principles generally accepted in the U.S. and in thousands of U.S. dollars)Three months endedNine months ended2012201120122011NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING ACTIVITIESOPERATINGNet income$32,158$40,347$82,604$100,052Items not affecting cashRestricted share (recovery) expense(143)1,0281,2151,381Accretion of landfill closure and post-closure costs1,3131,2713,9273,816Amortization of intangibles13,39112,87739,20636,977Amortization of capital assets35,21533,145103,35197,745Amortization of landfill assets21,72223,38659,79563,972Interest on long-term debt (amortization of deferred financing costs)1,7011,6405,0694,355Net gain on sale of capital assets(225)(1,092)(975)(2,871)Net gain on financial instruments(3,988)(1,528)(1,816)(3,883)Deferred income taxes5,9468,35716,90720,899Net loss from equity accounted investee11323058Landfill closure and post-closure expenditures(1,201)(1,102)(5,401)(3,162)Changes in non-cash working capital items(31,582)14,842(41,335)(38,850)Cash generated from operating activities74,318133,203262,577280,489INVESTINGAcquisitions(65,300)(49,471)(113,705)(139,506)Restricted cash deposits(1)-(23)(12)Investment in other receivables(148)-(148)-Proceeds from other receivables107122330356Funded landfill post-closure costs(127)(131)(287)(310)Purchase of capital assets(54,641)(28,100)(125,912)(77,033)Purchase of landfill assets(19,592)(18,776)(48,085)(39,659)Proceeds from the sale of capital assets5401,7542,1075,204Investment in landfill development assets(693)(1,594)(3,507)(4,711)Cash utilized in investing activities(139,855)(96,196)(289,230)(255,671)FINANCINGPayment of deferred financing costs(285)(3,786)(340)(4,806)Proceeds from long-term debt128,18994,550307,176331,163Repayment of long-term debt(43,998)(86,861)(166,507)(257,630)Proceeds from the exercise of stock options54-364855Repurchase of common shares(5,157)(15,556)(65,633)(39,056)Purchase of, net of proceeds from, restricted shares(541)(4,226)(541)(4,226)Dividends paid to shareholders(16,237)(15,408)(47,218)(46,431)Cash generated from (utilized in) financing activities62,025(31,287)27,301(20,131)Effect of foreign currency translation on cash and cash equivalents687(1,735)632(1,217)NET CASH (OUTFLOW) INFLOW(2,825)3,9851,2803,470CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD OR YEAR18,24812,89114,14313,406CASH AND CASH EQUIVALENTS, END OF PERIOD$15,423$16,876$15,423$16,876SUPPLEMENTAL CASH FLOW INFORMATION:Cash and cash equivalents are comprised of:Cash$15,418$16,875$15,418$16,875Cash equivalents5151$15,423$16,876$15,423$16,876Cash paid during the period for:Income taxes$9,531$9,206$41,698$40,598Interest$13,632$15,317$39,939$46,595FX Impact on Consolidated ResultsThe following tables have been prepared to assist readers in assessing the FX impact on selected results for the three and nine months ended September 30, 2012.Three months endedSeptember 30, 2011September 30, 2012September 30, 2012September 30, 2012September 30, 2012(unaudited)(unaudited)(unaudited)(unaudited)(unaudited)(as reported)(organic, acquisition and other non-operating changes)(holding FX constant with the comparative period)(FX impact)(as reported)Condensed Consolidated Statement of OperationsRevenues$490,522$(75)$490,447$(3,238)$487,209Operating expenses294,4754,672299,147(1,838)297,309Selling, general and administration51,4375,67157,108(358)56,750Restructuring expenses73(73)---Amortization69,4081,37370,781(453)70,328Net gain on sale of capital assets(1,092)864(228)3(225)Operating income76,221(12,582)63,639(592)63,047Interest on long-term debt15,303(523)14,780(84)14,696Net foreign exchange (gain) loss(51)565-5Net gain on financial instruments(1,528)(2,473)(4,001)13(3,988)Other expense32(34)(2)2-Income before net income tax expense and net loss from equity accounted investee62,465(9,608)52,857(523)52,334Net income tax expense22,086(1,790)20,296(131)20,165Net loss from equity accounted investee32(20)12(1)11Net income$40,347$(7,798)$32,549$(391)$32,158Adjusted EBITDA(A)$140,961$(2,972)$137,989$(1,060)$136,929Adjusted operating income(A)$72,645$(5,208)$67,437$(611)$66,826Adjusted net income(A)$35,105$(2,586)$32,519$(397)$32,122Free cash flow(B)(*)$64,390$(28,546)$35,844$(251)$35,593Note: (*)Prior period amounts have been adjusted to conform to the current period's presentation.Nine months endedSeptember 30, 2011September 30, 2012September 30, 2012September 30, 2012September 30, 2012(unaudited)(unaudited)(unaudited)(unaudited)(unaudited)(as reported)(organic, acquisition and other non-operating changes)(holding FX constant with the comparative period)(FX impact)(as reported)Condensed Consolidated Statement of OperationsRevenues$1,382,884$32,272$1,415,156$(14,237)$1,400,919Operating expenses820,78436,668857,452(7,924)849,528Selling, general and administration160,42212,246172,668(1,742)170,926Restructuring expenses1,198(1,198)---Amortization198,6945,554204,248(1,896)202,352Net gain on sale of capital assets(2,871)1,886(985)10(975)Operating income204,657(22,884)181,773(2,685)179,088Interest on long-term debt48,363(5,061)43,302(368)42,934Net foreign exchange (gain) loss(83)9512-12Net gain on financial instruments(3,883)2,084(1,799)(17)(1,816)Other expense827(720)107(2)105Income before net income tax expense and net loss from equity accounted investee159,433(19,282)140,151(2,298)137,853Net income tax expense59,323(3,388)55,935(716)55,219Net loss from equity accounted investee58(27)31(1)30Net income$100,052$(15,867)$84,185$(1,581)$82,604Adjusted EBITDA(A)$400,675$(10,155)$390,520$(4,598)$385,922Adjusted operating income(A)$204,852$(17,594)$187,258$(2,713)$184,545Adjusted net income(A)$97,008$(10,361)$86,647$(1,612)$85,035Free cash flow(B)(*)$203,183$(65,530)$137,653$(1,813)$135,840Note:(*)Prior period amounts have been adjusted to conform to the current period's presentation.Other Financial Highlights(all amounts are in thousands of U.S. dollars, excluding per share amounts)Three months endedNine months endedSeptember 30September 302012201120122011Operating income$63,047$76,221$179,088$204,657Transaction and related costs - SG&A6759662,0451,739Fair value movements in stock options - SG&A237(5,643)(813)(4,123)Restricted share (recovery) expense - SG&A(143)1,0281,2151,381Payment made to senior executive on departure - SG&A3,010-3,010-Restructuring expenses-73-1,198Adjusted operating income66,82672,645184,545204,852Net gain on sale of capital assets(225)(1,092)(975)(2,871)Amortization70,32869,408202,352198,694Adjusted EBITDA$136,929$140,961$385,922$400,675Net income$32,158$40,347$82,604$100,052Transaction and related costs - SG&A6759662,0451,739Fair value movements in stock options - SG&A237(5,643)(813)(4,123)Restricted share expense - SG&A(143)1,0281,2151,381Payment made to senior executive on departure - SG&A3,010-3,010-Restructuring expenses-73-1,198Net gain on financial instruments(3,988)(1,528)(1,816)(3,883)Other expenses-32105827Net income tax expense or (recovery)173(170)(1,315)(183)Adjusted net income$32,122$35,105$85,035$97,008Adjusted net income per weighted average share, basic(A)(*)$0.28$0.29$0.73$0.80Adjusted net income per weighted average share, diluted(A)(*)$0.28$0.29$0.73$0.80Replacement and growth expendituresReplacement expenditures$47,482$37,006$119,592$88,067Growth expenditures26,7519,87054,40528,625Total replacement and growth expenditures$74,233$46,876$173,997$116,692Free cash flow(B)Cash generated from operating activities (statement of cash flows)$74,318$133,203$262,577$280,489Free cash flow(B)$35,593$64,390$135,840$203,183Free cash flow(B) per weighted average share, diluted$0.31$0.53$1.17$1.68DividendsDividends declared (common shares)$16,207$15,318$48,551$46,228Note:(*)Prior period amounts have been adjusted to conform to the current period's presentation.Segment Highlights - Additional details regarding the FX impact on our comparative results can be found in the Foreign Currency sections of this report.(all amounts are in thousands of U.S. dollars, unless otherwise stated)Three months endedSeptember 3020112012Change2012Change(as reported)(holding FX constant with the comparative period)(as reported)Revenues$490,522$490,447$(75)$487,209$(3,313)Canada$203,350$208,934$5,584$205,696$2,346U.S. south$190,537$195,678$5,141$195,678$5,141U.S. northeast$96,635$85,835$(10,800)$85,835$(10,800)Operating expenses$294,475$299,147$4,672$297,309$2,834Canada$112,389$117,517$5,128$115,679$3,290U.S. south$117,661$121,738$4,077$121,738$4,077U.S. northeast$64,425$59,892$(4,533)$59,892$(4,533)SG&A (as reported)$51,437$57,108$5,671$56,750$5,313Canada$15,106$16,259$1,153$16,019$913U.S. south$19,092$18,586$(506)$18,586$(506)U.S. northeast$7,742$7,266$(476)$7,266$(476)Corporate$9,497$14,997$5,500$14,879$5,382EBITDA(A)(as reported)$144,610$134,192$(10,418)$133,150$(11,460)Canada$75,855$75,158$(697)$73,998$(1,857)U.S. south$53,784$55,354$1,570$55,354$1,570U.S. northeast$24,468$18,677$(5,791)$18,677$(5,791)Corporate$(9,497)$(14,997)$(5,500)$(14,879)$(5,382)Adjusted SG&A$55,086$53,311$(1,775)$52,971$(2,115)Canada$15,106$16,259$1,153$16,019$913U.S. south$19,092$18,586$(506)$18,586$(506)U.S. northeast$7,742$7,266$(476)$7,266$(476)Corporate$13,146$11,200$(1,946)$11,100$(2,046)Adjusted EBITDA(A)$140,961$137,989$(2,972)$136,929$(4,032)Canada$75,855$75,158$(697)$73,998$(1,857)U.S. south$53,784$55,354$1,570$55,354$1,570U.S. northeast$24,468$18,677$(5,791)$18,677$(5,791)Corporate$(13,146)$(11,200)$1,946$(11,100)$2,046Nine months endedSeptember 3020112012Change2012Change(as reported)(holding FX constant with the comparative period)(as reported)Revenues$1,382,884$1,415,156$32,272$1,400,919$18,035Canada$572,004$592,030$20,026$577,793$5,789U.S. south$537,889$578,606$40,717$578,606$40,717U.S. northeast$272,991$244,520$(28,471)$244,520$(28,471)Operating expenses$820,784$857,452$36,668$849,528$28,744Canada$313,841$329,488$15,647$321,564$7,723U.S. south$326,771$358,133$31,362$358,133$31,362U.S. northeast$180,172$169,831$(10,341)$169,831$(10,341)SG&A (as reported)$160,422$172,668$12,246$170,926$10,504Canada$46,339$49,029$2,690$47,850$1,511U.S. south$53,562$57,470$3,908$57,470$3,908U.S. northeast$23,503$22,959$(544)$22,959$(544)Corporate$37,018$43,210$6,192$42,647$5,629EBITDA(A)(as reported)$401,678$385,036$(16,642)$380,465$(21,213)Canada$211,824$213,513$1,689$208,379$(3,445)U.S. south$157,556$163,003$5,447$163,003$5,447U.S. northeast$69,316$51,730$(17,586)$51,730$(17,586)Corporate$(37,018)$(43,210)$(6,192)$(42,647)$(5,629)Adjusted SG&A$161,425$167,184$5,759$165,469$4,044Canada$46,339$49,029$2,690$47,850$1,511U.S. south$53,562$57,470$3,908$57,470$3,908U.S. northeast$23,503$22,959$(544)$22,959$(544)Corporate$38,021$37,726$(295)$37,190$(831)Adjusted EBITDA(A)$400,675$390,520$(10,155)$385,922$(14,753)Canada$211,824$213,513$1,689$208,379$(3,445)U.S. south$157,556$163,003$5,447$163,003$5,447U.S. northeast$69,316$51,730$(17,586)$51,730$(17,586)Corporate$(38,021)$(37,726)$295$(37,190)$831RevenuesGross revenue by service type The table below presents gross revenue by service type prepared on a consolidated basis and includes the impact of FX. Three months endedNine months endedSeptember 30September 302012%2011%2012%2011%Commercial$167,22334.3$164,45233.5$494,33135.3$480,38134.7Industrial87,14917.989,52018.2248,06017.7252,70818.3Residential113,77323.4102,98921.0323,45823.1293,32221.2Transfer and disposal168,16034.5178,84436.5472,60533.7491,55135.5Recycling15,5313.222,5864.649,7523.657,4254.2Other6,9501.45,9421.219,0001.416,5761.2Gross revenues558,786114.7564,333115.01,607,206114.81,591,963115.1Intercompany(71,577)(14.7)(73,811)(15.0)(206,287)(14.8)(209,079)(15.1)Revenues$487,209100.0$490,522100.0$1,400,919100.0$1,382,884100.0Revenue growth or decline components - expressed in percentages and excluding FXThe table below has been prepared using reported revenues for 2012 and gross revenues for 2011. The table has also been prepared assuming Canadian and U.S. dollar parity. For 2011, the amounts are presented as if Waste Services, Inc.'s operations were combined with ours for the six months ended June 30, 2010. Three months endedNine months endedSeptember 30September 3020122011 (*)20122011 (*)PriceCore price220.127.116.11.6Fuel surcharges0.21.10.41.1Recycling and other(2.5)0.8(1.8)0.6Total price growth(0.7)18.104.22.168Volume(3.2)1.0(1.7)0.6Total organic (decline) growth(3.9)4.3(1.6)3.9Acquisitions18.104.22.168.2Total growth excluding FX-9.72.310.1FX(0.7)(1.0)Total growth including FX(0.7)1.3Note:(*)Prior period amounts have been adjusted to conform to the current period's presentation.Free cash flow(B)Purpose and objectiveThe purpose of presenting this non-GAAP measure is to provide similar disclosures presented by other U.S. publicly listed companies in our industry and to provide investors and analysts with an additional measure of our value and liquidity. We use this non-GAAP measure to assess our relative performance to our peers and to assess the availability of funds for growth investment, share repurchases, debt repayment or dividend increases.Free cash flow(B)- cash flow approach Three months endedNine months endedSeptember 30September 302012 (*)2011Change2012 (*)2011ChangeCash generated from operating activities$74,318$133,203$(58,885)$262,577$280,489$(17,912)Operating and investingStock option expense (recovery)237(5,643)5,880(813)(4,123)3,310Acquisition and related costs675966(291)2,0451,739306Payment made to senior executive on departure3,010-3,0103,010-3,010Restructuring expenses-73(73)-1,198(1,198)Other expenses-32(32)105827(722)Changes in non-cash working capital items31,582(14,842)46,42441,33538,8502,485Capital and landfill asset purchases(74,233)(46,876)(27,357)(173,997)(116,692)(57,305)Proceeds from the sale of capital assets5401,754(1,214)2,1075,204(3,097)FinancingPurchase of restricted shares(541)(4,226)3,685(541)(4,226)3,685Net realized foreign exchange loss (gain)5(51)5612(83)95Free cash flow(B)$35,593$64,390$(28,797)$135,840$203,183$(67,343)Note:(*)Capital and landfill asset purchases include infrastructure expenditures of approximately $6,900 and $13,800, for the three and nine months ended September 30, 2012, respectively.Free cash flow(B)- adjusted EBITDA(A) approachWe typically calculate free cash flow(B) using an operations approach which is similar to the calculation required by our Canadian and U.S. facilities in place at September 30, 2012. Three months endedNine months endedSeptember 30September 302012 (*)2011Change2012 (*)2011ChangeAdjusted EBITDA(A)$136,929$140,961$(4,032)$385,922$400,675$(14,753)Purchase of restricted shares(541)(4,226)3,685(541)(4,226)3,685Capital and landfill asset purchases(74,233)(46,876)(27,357)(173,997)(116,692)(57,305)Proceeds from the sale of capital assets5401,754(1,214)2,1075,204(3,097)Landfill closure and post- closure expenditures(1,201)(1,102)(99)(5,401)(3,162)(2,239)Landfill closure and post- closure cost accretion expense1,3131,271423,9273,816111Interest on long-term debt(14,696)(15,303)607(42,934)(48,363)5,429Non-cash interest expense1,7011,640615,0694,355714Current income tax expense(14,219)(13,729)(490)(38,312)(38,424)112Free cash flow(B)$35,593$64,390$(28,797)$135,840$203,183$(67,343)Note:(*)Capital and landfill asset purchases include infrastructure expenditures of approximately $6,900 and $13,800, for the three and nine months ended September 30, 2012, respectively.Long-term debt to adjusted EBITDA(A)Our adjusted EBITDA(A) ratio prepared on a combined basis, assuming FX parity, is 2.80 times.Foreign Currency(in thousands of U.S. dollars unless otherwise stated)We have elected to report our financial results in U.S. dollars. However, we earn a significant portion of our revenues and earnings in Canada. We have provided our guidance assuming parity between the Canadian and U.S. dollar. If the U.S. dollar strengthens one cent our reported revenues will decline by approximately $7,600. EBITDA(A) is similarly impacted by approximately $2,500, assuming a strengthening U.S. dollar. The impact on net income for a similar change in FX rate, results in an approximately $1,000 decline. Should the U.S. dollar weaken by one cent, our reported results will improve by similar amounts.20122011Condensed Consolidated Balance SheetCondensed Consolidated Statement of Operations and Comprehensive Income or LossCondensed Consolidated Balance SheetCondensed Consolidated Statement of Operations and Comprehensive Income or LossCurrentAverageCumulative AverageCurrentAverageCumulative AverageDecember 31$0.9833$1.0109March 31$1.0009$0.9988$0.9988$1.0290$1.0142$1.0142June 30$0.9813$0.9899$0.9943$1.0370$1.0334$1.0237September 30$1.0166$1.0052$0.9979$0.9626$1.0202$1.0225Quarterly dividend declaredThe Company's Board of Directors declared a quarterly dividend of $0.14 Canadian per share to shareholders of record December 31, 2012. The dividend will be paid on January 16, 2013. The Company has designated these dividends as eligible dividends for the purposes of the Income Tax Act (Canada).Definitions of Adjusted EBITDA and Free cash flow(A) All references to "Adjusted EBITDA" in this document are to revenues less operating expense and SG&A, excluding certain non-operating or non-recurring SG&A expense, on the consolidated statement of operations and comprehensive income or loss. Adjusted EBITDA excludes some or all of the following: certain SG&A expenses, restructuring expenses, goodwill impairment, amortization, net gain or loss on sale of capital assets, interest on long-term debt, net foreign exchange gain or loss, net gain or loss on financial instruments, other expenses, income taxes and income or loss from equity accounted investee. Adjusted EBITDA is a term used by us that does not have a standardized meaning prescribed by U.S. GAAP and is therefore unlikely to be comparable to similar measures used by other companies. Adjusted EBITDA is a measure of our operating profitability, and by definition, excludes certain items as detailed above. These items are viewed by us as either non-cash (in the case of goodwill impairment, amortization, net gain or loss on financial instruments, net foreign exchange gain or loss, deferred income taxes and net income or loss from equity accounted investee) or non-operating (in the case of certain SG&A expenses, restructuring expenses, net gain or loss on sale of capital assets, interest on long-term debt, other expenses, and current income taxes). Adjusted EBITDA is a useful financial and operating metric for us, our Board of Directors, and our lenders, as it represents a starting point in the determination of free cash flow(B). The underlying reasons for the exclusion of each item are as follows:Certain SG&A expenses - SG&A expense includes certain non-operating or non-recurring expenses. These expenses include transaction costs related to acquisitions, fair value adjustments attributable to stock options, restricted share expense and payments made to senior executives on their departure. These expenses are not considered an expense indicative of continuing operations. Certain SG&A costs represent a different class of expense than those included in adjusted EBITDA. Restructuring expenses - restructuring expenses includes costs to integrate various operating locations with our own, exiting certain property and building and office leases, employee severance and employee relocation costs incurred in connection with our acquisition of WSI. These expenses are not considered an expense indicative of continuing operations. Accordingly, restructuring expenses represent a different class of expense than those included in adjusted EBITDA.Goodwill impairment - as a non-cash item goodwill impairment has no impact on the determination of free cash flow(B).Amortization - as a non-cash item amortization has no impact on the determination of free cash flow(B).Net gain or loss on sale of capital assets - proceeds from the sale of capital assets are either reinvested in additional or replacement capital assets or used to repay revolving credit facility borrowings.Interest on long-term debt - interest on long-term debt is a function of our debt/equity mix and interest rates; as such, it reflects our treasury/financing activities and represents a different class of expense than those included in adjusted EBITDA.Net foreign exchange gain or loss - as non-cash items, foreign exchange gains or losses have no impact on the determination of free cash flow(B).Net gain or loss on financial instruments - as non-cash items, gains or losses on financial instruments have no impact on the determination of free cash flow(B).Other expenses - other expenses typically represent amounts paid to certain management of acquired companies who are retained by us post acquisition and amounts paid to certain executives in respect of acquisitions successfully completed. These expenses are not considered an expense indicative of continuing operations. Accordingly, other expenses represent a different class of expense than those included in adjusted EBITDA.Income taxes - income taxes are a function of tax laws and rates and are affected by matters which are separate from our daily operations.Net income or loss from equity accounted investee - as a non-cash item, net income or loss from our equity accounted investee has no impact on the determination of free cash flow(B).(B) We have adopted a measure called "free cash flow" to supplement net income or loss as a measure of our operating performance. Free cash flow is a term which does not have a standardized meaning prescribed by U.S. GAAP, is prepared before dividends declared and shares repurchased, and may not be comparable to similar measures prepared by other companies. The purpose of presenting this non-GAAP measure is to provide disclosure similar to the disclosure provided by other U.S. publicly listed companies in our industry and to provide investors and analysts with an additional measure of our value and liquidity. We use this non-GAAP measure to assess our performance relative to other U.S. publicly listed companies and to assess the availability of funds for growth investment, debt repayment, share repurchases or dividend increases. All references to "free cash flow" in this document have the meaning set out in this note. About Progressive Waste Solutions Ltd.As one of North America's largest full-service waste management companies, we provide non-hazardous solid waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in 13 U.S. states and the District of Columbia and six Canadian provinces. We serve our customers with vertically integrated collection and disposal assets. Progressive Waste Solutions Ltd.'s shares are listed on the New York and Toronto Stock Exchanges under the symbol BIN. To find out more about Progressive Waste Solutions, visit our website at www.progressivewaste.com. Management will hold a conference call on Friday, October 26, 2012, at 8:30 a.m. (ET) to discuss results for the three and nine months ended September 30, 2012. Participants may listen to the call by dialing 1-888-300-0053, conference ID 35210439, at approximately 8:20 a.m. (ET). International or local callers should dial 647-427-3420. The call will also be webcast live at www.streetevents.com and at www.progressivewaste.com. A supplemental slide presentation will be available at www.progressivewaste.com.A replay will be available after the call until Wednesday, November 9, 2012, at midnight, and can be accessed by dialing 1-855-859-2056, conference ID 35210439. International or local callers can access the replay by dialing 404-537-3406. The audio webcast will also be archived at www.streetevents.com and www.progressivewaste.com. FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Progressive Waste Solutions Ltd.Chaya CooperbergVP, Investor Relations and Corporate Communications(905) email@example.com


text:
Honda XR 600 R For Heroes legent race REBULID
Let me introduce myself. Im Martin, new member, old "watcher" of that ADV forum and im preparing my Old Honda 1990 fro race Heroses Legent ( Paris to Dakar legendary race )
Im doing my restauration for a year now, i started as a low budget project on september 2011 but very fas i have decided that i need a money to do it right, stay alive on the race. Race bike has to be in 100 % in perfect conditions otherwise whole work with be usless.
This is my bike after i have strip some parts.
Now after a year i have spare money and i have collected almost every parts that i needed including specially bulid engine by XR only ( im from Poland, Europe so u can imagine logistic problems to do it:)) )
About the engine it will be a separate discussion , just now some snake pics.
I have also bought most of litle parts like rubbers, ruber tubes, small metal parts brand new. It took some time but most of the bike will be new:))
I will need some help from U guys as there are some things that i still did not decide what to choose, and time is passing very fast...
This is picture made a year ago when i was stripping the bike.
Engine made by XR ONLY. Based on old HRC specifications- 628 big bore with 10:1 compression ratio ( they asked me for more like 12:1 but i need that engine to last a lit bit longer then one race:))
This is delivery time:)))
Is in cooling box so adventure already started:)
I'm in to watch the build. I raced an HRC 628 in the California desert for many years. Great old girl; one of my all time favorite bikes. The key to her successes? Keep her cool and she will run like the wind. Also watch out for the subframe. It will crack with the extra weight of a rear tank. Make sure you add some gussets to strengthen the sub mounts to the main frame. I modified mine to be able to unbolt the subframe for easier access to servicing the shock.
Good luck on your project. -Jerry
Hi Jerry
Thank u so much for all u suggestions,
Fo cooling the bike i have choosen one of the solutions from that forum, oil cooler made by Mark, i will test it on my old engine and ifnall is fine I will mount it to the race one.
Subframe, i had feeling thatbit has to be stronger but i did not know how to do it. May be do u have some pics from u old bike???
I was thinking to make subframe detachable from the main frame bu im a lit bit worry how strong it may be? Stronger and stiffer then welded version?
Best regards
New front suspension, orginal one from 1991!!!:) , not used, i have found it in Norway.
Is a cardrige system, good, i will try to rebulid it in ohlins suspension, we will see if it can be done. Anyone try that?
If not i will have to do some improvements for that, so any suggestions welcome.
Best reards
Nice project
Did you buy complete engine from XR's Only or supply engine for them to rebuild.
I bought complete engine from them. My orginal one has some parts very badly used so i needed to replace them, but as it is 1990 it was hard to get new parts. 2 parts become not available even in Japan so i have decided to have 2 motors. One for race , 2nd for security for the future. I almost completed all parts for old engine until now:))
Anyway, do u know guys if i can replace 2 hole chain guard with 3 hole guard from xronly?
Also i need to modify frame , do u have may be some old pictures from 90 when those things where modified fir race in almost every garage?
Best regards
I had an identical engine in my '98 XR628 with a Yoshimura full exhaust and an Edelbrock carb, it was a real horse. It had stock forks and shock modified by Factory Connection along with a fork brace. I removed the modified stock suspension and installed WP 4054 forks and a WP Super Adjuster shock that I had fitted to an '85 XR 350 for quite a few years. Didn't really need to do that. The modified stock suspension was actually better on most surfaces, particularly good on roots and uneven rocky surfaces. Only downside to the stock forks is the long underhang beneath the axle, that can be a problem when negotiating deep ruts and occasionally catch a stray stick or root.
Is very important info for me. I was never in 100 % sure if I wonna stay with orginal suspension or trick the thing and buy USD forks. I have decided to stay orginal as if i would like to have USD then i had choosen wrong bike:)
So i will rebulid , revelve that suspension and we will see what we can do with that. Rear shock is really pain. Not available in most shops, only one way left ( the great one ) Ohlins will bulid custom rear shock for me ( now they checking if they can do it)
If no, i will be in trouble as fro 1990 not options left:(
I need some help Guys with 2 things,
1) How to remove swing arm bearings without the special tool, i know how to do it on KTM , but is much easier as the swing arm has different construction, what is the trick?
2) Please look at my rear hub, now is 110,6 mm, the limit is 111 mm diameter inside, i still can buy new one, but is a lit bit exensive , cost 600 USD new one . Do u think it should be change?
Replace the swing arm, brake set up and wheel from a +91 so you can get the disc brake. WAY better than that drum brake.
Yhank U for u post.
I have considered that option but i would be very hard now as i would need to change rear wheel, swing arm, rear brake, FRAME :( looks like it is new bike:(
Is hard to get those parts in Europe, on Ebay i see only one Swing arm available for 1994.
Frame is also a problem as is already powder coated and i would need to mount brake pomp .
I think i will stay stock, brakes are weak but only what i can do now is somehow to improve it as it is...
Or may be there is or there was some conversion for 1990 bikes? ( like HRC kit for engine)
The later swing arm will fit no problem. The difference in the frame is only the rear brake master cylinder mount.
I need a help to make decision what to do.
I ordered engine rebulid in XR only , Im from Poland and it cost me a lot of effords( custom, taxes ) and money.
In general Im happy what they did, well, until today when it comes to put the engine to the frame.
I have notice quite deep and big gap on the gasket on the crankcase.
I did not star motor yet, is untached , it is as it has come.
SO my question is, Can i live it like that? Sendig back engine is a dificult thing, cost is 1000 USD.:(
I have notcie that gasket in that place is wide, ( is a front of the engine in the place where is mounted to the frame.
I have check that is around 3mm deep.
What to do ???
Please look at the photo.
That gasket goes arround the mounting hole...and also internally too...that is not a problem,,it`s the way it`s designed...good to go there:wink:
Martin, looks like engine mounting point, not an issue. Mount up the motor and run it through its paces and then check for leaks. On the rear wheel- go with the 94 or whatever you can find to get a disk mounted. Adding the 30+ pounds to the weight for auxiliary fuel tanks, the stock drum will wear out real fast at race speeds. I raced a 91 factory prepped HRC 626 for a few years and went through rear brakes often, sometimes on only a 250 mile race. Have you looked into the removable sub frame option yet? Copy a CR 250/450 design. Find diagram on the web. Add sleeves at mount points and gussets with holes drilled at all weld points. I will look for pics of my old girl to show you.
Coil- double it up with two units.
Ignition- update to XRL 650
Clutch- heavier springs and plates.
Oil cooler- use XR 400 unit, mount 2 up one on top of the other- cool oil,is your best friend.
Frame- gusset the rear mounts where connected at swing arm- just peace of mind- poor welds here.
Wheels- heavy duty spokes, especially on much heavier rear. Stockers will snap on a square edge high speed bump.
More if my feeble mind can recall what my team did back in 91-2.
Keep the posts coming. - Jerry
The gasket is nothing to worry about.
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Results 1 to 7 of 7
Thread: WFB warrior
November 20th, 2005 #1
WFB warrior
Concept just for learning, and practice, inspired by WHB 40k.
I hope you will help. All crits are welcome
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- Art: Little warrior
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- Art: warrior
Hide this ad by registering as a memberNovember 20th, 2005 #2
Hi there! The character is cool, sketch style but I still like it. The composition and the flags or the big black thing in the background is really weakening the image. I think you should drop those strokes and flag and crop the image to a simple character design Keep it up
November 20th, 2005 #3
I think the black thing is a cape.. and it really shouldnt be any longer than he is tall. preferably less so. The characters right arm also seems a bit short. Its a good pic thus far. I definately like the armor.
November 27th, 2005 #4
Ok heres another step. Thanks for your help. I changed his cape, a pyed more attention to his left arm and legs.
November 29th, 2005 #5
sketh of his head
November 30th, 2005 #6
ups sorry
Last edited by Pawlack; November 30th, 2005 at 10:38 AM.
December 1st, 2005 #7
nice mate
some tips:
perhaps you should change the motionline to let him look more heroic, i would also change his size, as i read on a marvel book, that 8-heads-height looks more "cool" ^^
something's strange with his left leg, i overpainted your wip to show you what i mean:


text:
Super Mario Bros HD
Credits & Info
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- Frontpaged July 1, 2013
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Author Comments
Rated 5 / 5 stars
Why they don't just make their HD games excactly this ... we will never know
Rated 5 / 5 stars
Very Nice.
Rated 5 / 5 stars
this is the most trollish thing i've ever seen. thanks. now i have a vision of something i'll never get to play.
I hate your guts....
Amazing pic tho...
Rated 5 / 5 stars
Looks braid-inspired. Very nice
Rated 5 / 5 stars
I'm impressed by how the pictures pop on the screen! It looks like a game you could download off of Steam or some other indie gaming network.
Good work with this! I really admire it! :)


text:
The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome,
Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.
Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch.
This merger follows the
WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development
The U.N.
The Swedish Defence Materiel Administration (FMV) has awarded contracts worth Skr8.6bn ($1.03bn) to Saab AB for the construction of two new Type A26 submarines
Littoral Combat Ship 6 (LCS 6), the future USS Jackson, has completed U.S. Navy acceptance trials, shipbuilder Austal Limited announced.
The trials, the final milestone before delivery,


text:
A scary ghost creature in the Mushroom Kingdom. Mario faces these a lot. These pearly-white ghosts will become invisible if anyone faces them. They usually cannot be disposed of. There are also other Boos, like the Big Boo, King Boo, and more.
"I thought I heard a Boo, but I turned around and saw nothing."
Beküldő: SeaCaptainDrake 2003. december 6.
This word is used in a replacement of any cuss word.
Id boo that !!!
My left ankle hurts like a freaking boo !!!
Ill will boo you up if you dont shut up !!!
My left ankle hurts like a freaking boo !!!
Ill will boo you up if you dont shut up !!!
Beküldő: londonengland112 2010. február 7.
Basically it means like forget you.
*1. Someone keeps staring at you, you say "Boo Bitch! Whatchu lokkin at?!?!?!"
*2. Girl 1: Hey can you hang out today???
Girl 2: No sorry...
Girl 1: Boo, you whore!!! You suck.
*2. Girl 1: Hey can you hang out today???
Girl 2: No sorry...
Girl 1: Boo, you whore!!! You suck.
Beküldő: lol.it.babe=) 2009. június 3.
An ancient mating ritual involving the death of the male.
Bob: Come Charlie! Lets do some boo.
Charlie: I'll see you on the flipside...
Charlie: I'll see you on the flipside...
Beküldő: Oilhater 2008. június 14.
a term used in prison referring to someone as your bitch but the term has been taken out by the black man to the urban streets as your loved one
black man- "yea thats right mother fucker you take it cuz you always gonna be my boo"
Beküldő: nick zanko 2006. augusztus 15.
The name of the Peterson's pet cat (until dad let it go stray right round near the animal auction).
Oh no, Boo peed on the red couches again!
Beküldő: Danny Peterson 2004. január 26.
something you say when someone is stareing right at you and you look at them and they are still looking at you, you say boo in a wat are you looking at voice and they stop looking at you!!!
girl#1:(looks at a gurl and she looking at her) boo wat you looking at lil ugly
girl#2:rolls her eyes and stops looking
girl#2:rolls her eyes and stops looking
Beküldő: *gloria* 2008. április 22.


text:
Wallace called into standby duty twice at Daytona
DAYTONA BEACH, Fla. Kenny Wallace was wearing Kevin Harvick's red firesuit and AJ Allmendinger's yellow helmet in the pits Saturday, an odd combination for an even stranger scenario at Daytona International Speedway.
Wallace was Plan B for two teams.
The part-time driver was asked to serve as a standby for Harvick and nearly ended up replacing Allmendinger.
"Well, that was drama," Wallace said minutes before the 400-mile race at Daytona. "It was a feather in my cap for these car owners to think of my superspeedway driving."
Harvick's pregnant wife, DeLana, returned to North Carolina earlier in the day, and Harvick was keeping close tabs on any potential contractions. So Richard Childress Racing lined up Wallace just in case Harvick had to rush home.
Allmendinger, meanwhile, was temporarily suspended about 90 minutes before the race for a failed drug test, forcing Penske Racing officials to scramble to get Hornish back to the track.
In case Hornish couldn't make it on time, Penske officials asked Wallace to be ready to climb into the No. 22 Dodge.
So that meant Wallace potentially getting in a Penske car - the team also has Miller Lite as a sponsor on its No. 2 Dodge - wearing Harvick's Budweiser firesuit.
"It was a little uncomfortable for everybody," Wallace said. "What happened with all the sponsors and all the automakers, this was all people helping people at this point."
DODGE'S FUTURE: NASCAR Chairman Brian France is hopeful Dodge will still be in NASCAR next season.
The Sprint Cup Series currently has four manufacturers - Chevrolet, Ford, Toyota and Dodge - but Penske Racing is switching from Dodge to Ford at the end of the season. Dodge has yet to announce any replacement teams.
Nonetheless, the manufacturer introduced its 2013 car in March, shortly after Penske announced its defection.
"I hope they will be here, (parent company) Fiat has got racing in their DNA, so I hope they'll be here," France said. "They have a great-looking car and I'm sure they were disappointed with how things played out. My hope is they'll figure out a way to stay in the sport. It's hard to come in and out of NASCAR, and it's hard to come in, so I hope that after they've put all that effort to come in that they'll stay in."
There's been speculation as to who could partner with Dodge, and it's included reports Dodge is courting current IndyCar Series team owner Michael Andretti to start a NASCAR team. Other organizations mentioned as possible Dodge factory teams have been Richard Petty Motorsports and Furniture Row Racing.
Roger Penske currently builds the only Dodge NASCAR engines in his North Carolina shop, but it's assumed he'd sell it to a new Dodge team if he chooses not to build his own Ford engines.
BOWDEN'S THOUGHTS: Former Florida State coach Bobby Bowden attended his first NASCAR race Saturday, serving as the grand marshal for the Sprint Cup race.
And, yes, Bowden's down-home vernacular was a big hit at Daytona.


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Improving animal welfare in livestock operations : good practice note
In the past decade, animal welfare has been increasingly recognized in importance in commercial livestock operations. Governments, academic institutions, and animal... Show More +
The World Bank and GEF Partner to Restore Migratory Fisheries
Washington, September 24, 2014 – Today, in partnership with the Global Environment Facility (GEF), the World Bank Group approved a $10 million project to address the decline of important migratory fis... Show More +
The GEF-6 biodiversity strategy
The Convention on Biological Diversity (CBD) defines biodiversity as the variability among living organisms from all sources including, inter alia, terrestrial, ma... Show More +
The effect of climate and technological uncertainty in crop yields on the optimal path of global land use
The pattern of global land use has important implications for the world's food and timber supplies, bioenergy, biodiversity and other eco-system services. However, ... Show More +
Investing in natural capital for eradicating extreme poverty and boosting shared prosperity : a biodiversity roadmap for the WBG
The World Bank Group (WBG) has a long experience in engaging in biodiversity with world-class expertise in the field. It has been the single largest funder of biodi... Show More +
Ecosystems -- burden or bounty ?
This paper presents a somewhat novel approach to explore the economic contribution of ecosystems. It develops linked models to capture connections between resource ... Show More +
Combating land degradation in production landscapes : learning from GEF projects applying integrated approaches
During the Fifth Replenishment Phase of the Global Environment Facility (GEF-5), portfolio monitoring and learning review were introduced as key components of knowl... Show More +
GEF investments on payment for ecosystem services schemes
The Millennium Ecosystem Assessment (MEA), The Economics of Ecosystems & Biodiversity study (TEEB) and the Intergovernmental Platform on Biodiversity and Ecosystem ... Show More +
Building capacity to implement the Nagoya protocol : a review of GEF support
The global environment facility (GEF) has invested more than 60 million dollars and leveraged 120 million dollars in co-financing in over 100 countries in support o... Show More +
Growing aquaculture in sustainable ecosystems
Aquaculture is among the most sustainable of animal protein production systems. Growth of aquaculture is needed to meet employment and food security targets in deve... Show More +
Biodiversity and national accounting
Biodiversity, a property of natural areas, provides a range of benefits to the economy including bioprospecting rents, knowledge and insurance, ecotourism fees, and... Show More +
Wealth accounting and the valuation of ecosystem services : global partnership - 2013 annual report
The program, the global partnership on Wealth Accounting and the Valuation of Ecosystem Services (WAVES), has made good progress on all of its goals. The five WAVES... Show More +
Behind the numbers : a closer look at GEF achievements
The positive impact Global Environment Facility (GEF) investments have on the two billion human beings is still waiting for access to electricity, clean water, and ... Show More +
Two decades of experience in the GLOBAL ENVIRONMENT FACILITY (GEF) : investing in ecosystem services and adaptation for food security : Two decades of experience in the global environment facility (GEF) : investing in ecosystem services and adaptation for food security
Global aspirations for food security warrant major transformation in the economics of land and water management to accommodate the need for safeguarding ecosystem s... Show More +
Natural capital, ecological scarcity and rural poverty
Much of the rural poor -- who are growing in number -- are concentrated in ecologically fragile and remote areas. The key ecological scarcity problem facing such po... Show More +
Ecosystem services and green growth
"Ecosystem services" has become a catch-phrase for the complex connections between the natural environment and human well-being. This paper considers the impact of ... Show More +
Payment for ecosystem services
This report summarizes the investments of the Global Environment Facility (GEF) since its inception in projects involving Payment for Ecosystem Services (PES). The ... Show More +
Sustainable agricultural productivity growth and bridging the gap for small-family farms
Global agriculture will face multiple challenges over the coming decades. It must produce more food to feed an increasingly affluent and growing world population th... Show More +
A 20-year journey : to green the world's economies
Through twenty years of experiment and innovation, the Global Environment Facility (GEF) has created working models of sustainable development that have shaped our ... Show More +
Forests cover 25-30 percent of the earth's land surface and contain about 80 percent of the world's remaining terrestrial biodiversity. Forests help to maintain the... Show More +


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Console suspend/resume without X or nvidia.ko
Suspend/Resume works fairly well on my laptop with X. However I'm wondering when I'm not at X, or not running X at all, or even when nvidia.ko is not even loaded.
Currently at the console, vesafb or not, when it resumes the display stays off, even though everything else works. I know with X, we should not use vbetool and the like to do tricky stuff during suspend/resume. But what about without X and nvidia.ko? Would it be an issue for the laptop/bios/acpi, and nothing to do with the nvidia display card?
Re: Console suspend/resume without X or nvidia.ko
After quite a lot of testing with both vbetool and different s2ram options, and acpi_sleep options, with my laptop (ASUS W7J) I still couldn't find a way to wake up the console/vesafb display (no nvidia driver and no X) after a suspend/resume.
Considering the nvidia driver and X are able to do something to wake the display on resume, is there any chance that it could expose this function somehow? Perhaps something like a /proc or /sys value to the nvidia kernel module to reset/wakeup the display?
Additionally, without nvidia kernel driver loaded or X running, after a suspend and resume, I tried to wake the display up by starting X (I can't see the screen but I could still ssh in over network). However X fails to start, and I a NVRM: RmInitAdapter failed! error in the dmesg. Does that sound right at all?
Thanks again.
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"Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand."
Behind every brand is a sweet story, this whimsical little girl is ours.
"I don't do quotes."
"If your dreams don't scare you, they're not big enough."
"Good things come to those who hustle."
"Be the change you want to see in the world."


text:
Sandeman Free Prague Tour
I was looking into a free Prague walking tours, and came across Sandeman's Free Walking Tour. I noticed on their website that they meet on at the Old Town Square, but there's no mention of what days. Does anyone know? Also their website says one does not have to book in advance. In the event there is a long line, is there a possibility that one would not be able to join the group?


text:
June 2, 2015 4:28 pm
Download audio
Chris Kemp – Chief Information Officer
NASA Ames Research Center is developing a lot of information technology systems for the follow on to the Space Shuttle program, called Constellation.
It's also is working with other agencies, including the Federal Aviation Administration, to research, invent and then implement future air traffic management tools.
All of this and more work comes under the purview of Chris Kemp, NASA Ames Chief Information Officer.
Kemp says to help keep on top of all these projects and make sure his office is meeting customer needs, Ames has a new governance structure.
He says the IT management board meets weekly to discuss agency's strategic investments and then sets up service level agreements with each of the customers.
The board helps prioritize the IT budget across NASA, taking into account the projects overall benefit to the entire agency, not just one center.
Kemp says this new approach is making it easier to look at all technology projects through a NASA-wide enterprise architecture.
How the US Mint and NIST are perfecting the money-making process.


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The Greene Murder Case
First edition
|S. S. Van Dine
|United States
|Philo Vance
|Mystery, Detective Novel
|Charles Scribner's
Publication date
|24 March 1928
|Media type
|Print (Hardback & Paperback)
|388 pp
|Preceded by
|The Canary Murder Case
|Followed by
|The Bishop Murder Case
The Greene Murder Case is a 1928 mystery novel by S. S. Van Dine. It focuses on the murders, one by one, of members of the wealthy and contentious Greene family: "The holocaust that consumed the Greene family", as detective Philo Vance memorably puts it. This is the third in the series of Philo Vance whodunits, and the first of the Vance books not inspired by a real-life crime.
Plot synopsis[edit]
Philo Vance takes a hand when, one evening, a daughter of the Greene family is shot to death and another one is wounded. The family comprises two sons and three daughters (the youngest, Ada, is adopted) under the rule of their mother, a bedridden invalid who spends her days feeling sorry for herself and cursing her ungrateful children. The family is required to live in the Greene mansion under the terms of their father's will. The German cook seems strangely attached to the adopted daughter; other hangers-on include the mother's physician, who is courting Sibella Greene, and the enigmatic butler. Later, the two Greene brothers and the mother are killed and the only family left are the two surviving daughters, jaunty modern Sibella and shy Ada, against whom two murder attempts have been made. The murders are complicated by sets of mysterious footprints appearing in the snow which seem to have been made in an impossible way and by the suggestion that the paralyzed mother has been seen walking in the halls. Philo Vance reduces the facts of the case to just under a hundred paragraphs, sets them in order, and solves the case.
Literary significance and criticism[edit]
The Greene Murder Case became the number four bestseller in the US during its first year of publication.[1] "An overblown and overfootnoted tale recording the exploits of Philo Vance. He solves a series of murders in an old New York mansion, ostensibly by tumbling to the fact that the murderer's method was plagiarized from Gross's Handbuch für Untersuchungsrichter, but actually by waiting until the criminal has disposed of most the family."[2]
A book with this title receives a mention in Walker Percy's novel, "The Moviegoer".
Film adaptations[edit]
The Greene Murder Case (1929) starred William Powell as Philo Vance.
Another version, entitled Night of Mystery (1937), was based on The Greene Murder Case and starred Grant Richards as Philo Vance. Reportedly, no prints exist outside of university/museum collections.
Czech television produced a TV movie, Vyvraždění rodiny Greenů, in 2002, directed by Jiří Strach and starring Jiří Dvořák as Philo Vance.
- ^ "Scribner Chronology". Princeton education libraries. Retrieved 2007-02-02.
- ^ Barzun, Jacques and Taylor, Wendell Hertig. A Catalogue of Crime. New York: Harper & Row. 1971, revised and enlarged edition 1989. ISBN 0-06-015796-8
- Dine, S. S. Van (1928). The Greene Murder Case (1st ed. ed.). New York: Charles Scribner's.
- Text of the novel from Project Gutenberg, Australia
- TV movie from 2002 on pages of Czech Television (Czech language)
External links[edit]
- The Greene Murder Case at the Internet Movie Database
- Vyvraždění rodiny Greenů at the Internet Movie Database


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Working on an assignment? You don't have to use your old World Book Encyclopedia or get lost in the million results from Google. Take an online tour of the library's resources. They're available on campus or at home. Learn how to find reliable information and turn in successful papers.
Facilitator - Audrey Harvey


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text: In an 8x8 deep pan, mix eggs, Half & Half, and vanilla extract. Dunk the slices of sourdough bread in the egg mixture. Allow the bread to absorb the mixture for 20 to 30 seconds on each side. Place a 1/4 of an inch thick slice of butter in a non-stick skillet. Cover the base of the skillet and add the soaked bread. Cook on either side for 2 to 3 minutes on a medium high heat until golden brown. Cover with warm maple syrup and confectionery sugar. Serve hot with a side of sliced strawberries.


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36-year-old man dies in early morning crash in Lee County
The Florida Highway Patrol is investigating an early morning crash in Lee County that killed a man.
Jason Dean Bickford, 36, of Lehigh Acres, died this morning after losing control of his Toyota Corolla, according to reports.
Bickford was traveling east on Lee Boulevard in Lehigh Acres when he lost control and began rotating clockwise. His car traveled into the southbound shoulder and collided with a tree. After the collision, reports show the car continued to rotate.
FHP troopers responded to the scene east of Lee Street shortly after 12:45 a.m.
Bickford's passenger, Kellie Ann Birch, 28, also of Lehigh Acres, was taken to Lee Memorial Hospital for minor injuries.
According to reports, both were wearing seatbelts at the time. It remains unknown whether alcohol was a factor in the crash.
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Chicken Enchiladas
21 Aug 2010
|Chopped onion
|1 Cup (16 tbs)
|1 Clove (5 gm), minced
|Cooking oil
|4 Tablespoon
|All purpose flour
|1 Tablespoon
|Canned tomatoes
|16 Ounce, cut up (1 Can)
|Canned tomato sauce
|15 Ounce (1 Can)
|Canned green chili peppers
|4 Ounce, drained, seeded, and chopped (1 Can)
|1 Teaspoon
|Ground cumin
|1 Teaspoon
|1⁄4 Teaspoon
|Frozen corn tortillas
|12 , frozen
|For chicken filling
|Shredded sharp american cheese
|3⁄4 Cup (12 tbs)
|Sliced pitted ripe olives
|1⁄4 Cup (4 tbs)
Cook onion and garlic in 2 tablespoons oil; stir in flour.
Add next 6 ingredients.
Cook and stir till thick and bubbly; set aside.
In skillet dip tortillas briefly in small amount of hot oil till limp but not crisp.
Spoon 1/2 cup Chicken Filling on each; roll up.
Place in 13x9x2-inch baking dish.
Pour tomato mixture over all.
Bake, covered, at 350° about 15 minutes.
Uncover; bake till heated through, about 15 minutes.
Top with cheese and bake till cheese melts.
Top with olives.
Rate It
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Chicken Enchiladas Recipe


text:
Fifteen years after its debut at the New York Auto Show, the Toyota Highlander is in the second year of its third generation as a midsize, car-based sport utility vehicle. The Highlander was a quick hit and became Toyota's best-selling SUV until its smaller sibling, the RAV4, assumed the carmaker's top SUV spot in 2006. Facing ...Read More »
Economy cars
2014 LA Auto Show: Tech madness; Youthful colors rock
As the first major international automotive industry gathering of the year, the LA Auto Show annually attracts a full spectrum of carmakers and automotive enthusiasts. The 2014 LA Auto Show, which recently ended at the Los Angeles Convention Center, offered the usual collection of entry level cars from Ford, Chevrolet, Mitsubishi and the like. And ...Read More »
The Family of Prius, hybrid cars still dominate
The Toyota Prius wasn't the first hybrid vehicle in the United States. That honor belongs to the Honda Insight. But the Prius, which debuted a few months later, has been the most successful alternative fuel car in the United States — by a substantial margin — since its unveiling in 2000. In the past 15 ...Read More »
Elio Motors: To reserve or not? Nearly 12,000 say yes
Interest in the yet-unnamed Elio Motors' $6,800 three-wheel vehicle, scheduled for delivery in 2015, continues to steadily increase. According the the company's website, nearly 12,000 prospective buyers have paid deposits from $100 to $1,000 and with refundable and non-refundable options. A non-refundable reservation provides customers with an additional discount worth 50 percent of the initial ...Read More »


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The Magician is former Aeroplane member Stephen Fasano's alter ego. Here's a taste of one of his mixtapes, rooted in house, nonetheless very popular in nudisco and indie domains.
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freakPEACH2 years agoReplyDelete and block
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mmm.. nice one ;)


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Periphery have locked themselves away in the studio hard at work on 'Juggernaut,' the follow up to this year's 'Clear EP' and 2012's 'Periphery II.' Watch drummer Matt Halpern tracking drums (and annihilating drum heads) in their Studio Update videos, part 1 & 2. The band is taking a break from the recording sessions this fall for the just announced 'Escape From The Studio' Tour alongside The Contortionist, Intervals and Toothgrinder! A special VIP ticket package will be available for fans who want to learn about the band's studio process and live setup, read more about it and see full dates below:
"Through the support of D'Addario and Bandhappy, Periphery will be offering Juggernaut Workshops, an exclusive invitation for fans to learn about the making of the album, experience a walkthrough of the band's live rig, hear tour stories during a meet & greet photo session, jump the line and for true fanatics, even view the show from the side of the stage. Tickets to the workshop will be available Friday July 18th, via the Bandhappy website."
Obey The Brave and Crossfaith have been tapped to support The Amity Affliction's North American tour this Fall. The tour crosses north of the border 9/25 at Vancouver's Tom Lee Music Hall (without Crossfaith) and again in October for two dates in Toronto and Montreal after Crossfaith joins the lineup. See the full list of dates below.
With For The Fallen Dreams, Obey The Brave, Favorite Weapon & Exotype:
With For The Fallen Dreams, Obey The Brave, Crossfaith & Favorite Weapon:
10/07 Detroit, MI – The Shelter
10/08 Toronto, ON – Tattoo Queen West
10/09 Montreal, QC – La Tulipe
10/11 New York, NY – Studio @ Webster Hall
10/12 Philadelphia, PA – The Barbary
10/14 Springfield, VA – Empire
10/15 Greensboro, NC – Greene Street Club
10/16 Atlanta, GA – Masquerade
10/17 Orlando, FL – Backbooth
10/18 Tampa, FL – The Orpheum
10/19 Ft. Lauderdale, FL – Culture Room
With For The Fallen Dreams, Obey The Brave, Favorite Weapon & Exotype:
10/21 Dallas, TX – Trees
10/22 Houston, TX – The Studio @ Warehouse Live
10/23 San Antonio, TX – White Rabbit
10/25 Mesa, AZ – The Underground
Comeback Kid's fourth studio record 'Die Knowing' is out today! Vocalist Andrew Neufeld has called the follow up to 2010's 'Symptoms + Cures the "biggest and heaviest-sounding Comeback Kid album to date." Find buy links below.
Buy Digital: Distort iTunes
Buy CD: MapleMusic HMV
@nnnorm @aznprincessxo @altonahardcore no.
RT @nosleeprecords: An employee of Rocketown in Nashville was fired today for wearing a #ISupportSameSexMarriaget-shirt from ho http://t ...
Everyone please taken a second to wish @jocelynnrennie of team distort a happy birthday. Her parents finally got her a pony.