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My wife and I finally thought we had found the counter stools we wanted after months of searching, trying, and not falling in love with countless other types/designs. We were drawn to the driftwood weathered look of the legs combined with the sophisticated dark gray/nailhead cushion. Unfortunately, upon arrival, our cautious optimism turned into massive disappointment. None of the reviews really emphasize this, but the legs are considerably darker in person. Like near espresso color with a light whitewash in the grooves of the wood. The legs on our chairs were darker than the already dark charcoal upholstery, if you can believe that by looking at the picture. We were convinced the packaging team had mistakenly packed the 'coffee' version of the chair found on overstock. They looked nearly identical to the pictures shown for that model if someone wants a more accurate idea of real life color. Nowhere close to the smokey bleached driftwood we had hoped for. Overstock was great about returns, but the whole experience was no doubt frustrating. Maybe we got a bad batch, but the SKUs were right and we really didn't want to go through the same hassle twice. Just be prepared for a MUCH darker chair if you like the look.
Good quality. The weathered wood was exactly what I was looking for. The fabric on the seats is more brown than grey as it appears in pictures. Assembly was fairly easy. I am hoping to buy matching chairs when they are in stock again
These stools are the perfect combination of rustic and upscale and look great at my kitchen counter. The quality seems good, and the price is great. They were pretty easy to put together - I assembled them myself and I am not super-handy. My one complaint is that they do have a very strong odor. Smells like mineral spirits to me, and I sure hope they are not very flammable. I had to assemble them out on my porch, because everyone inside was complaining about the smell. I bought these stools in 2 batches because my first order was a trial to see how they looked. When I went to re-order they were out of stock and I had to wait a month or so before they were back. The second order was much smellier than the first. Anyhow, they are sitting out on my porch right now to air out, which is helping. Five stars for looks.
I bought two sets of these and they fit lovely under my island. Love the color and style. They are small little stools, so if you are looking for a "big seat" then you might want to pass these up, because they are petite; which because of that, I was able to get two under the island on each side. They look great in my gray and white kitchen.
Beautiful stools! A little top-heavy which took my 4 year old twins a few times to get used to, but otherwise great. The picture does them justice; the wood has nice detailing and the seats are comfortable with lovely fabric.
These stool are gorgeous . Especially for the price. You do have to assemble them which some of the screw holes did not perfectly line up but we got through it. I have received nonstop compliments on these. My kids have even spilled a few things on them already and the fabric seems pretty resilient.
Love, love, love these stools! I ordered a set of (2) as a test to make sure I was satisfied with the finished product, and after receiving them I couldn't wait to purchase (4) more! They are a beautiful addition to my new kitchen - exactly what I've been looking for awhile now and the price is very reasonable. Thank you overstock!
great value, awesome stools
Just got these stools and we love them!! So comfortable and very stylish. Easy to put together.
love these! they are definitely darker than the picture but I was prepared for that after reading previous reviews. they were a bit time consuming to put together but for the price well worth it. very comfortable to sit on
I wish someone would have mentioned that the Renata Grey Counter stools are NOT grey. The wood has a grayish tone but the cushion is definitely not grey. It is dark BROWN, totally not the same pallet that is shown on the photos. Just a warning for those who expect "Grey".
Very nice chairs, sturdy and comfortable. The color of the fabric and wood is darker than the picture. I ordered a second pair.
Stools go perfect with chairs we bought and grandchildren love them
Bought these stools for a second home in Florida. Loved the look and they came exactly as pictured. Very comfortable padding. Only downside was that they weren't as easy to assemble as I had hoped. A few of the drilled holes did not line up making assembly tricky and wood glue necessary. Overall they are a nice style and I'm pleased.
Great choice I made! The Stools matched my kitchen perfectly!
very nice better in person than the pics
These stools look great..they are a washed wood look but not as light as shown in picture. The assembly was a bit of a pain. I needed to purchase longer screws and use wood glue in order to have legs secured tightly. One stools leg was slightly shorter but felt pad on bottom fixed the issue. The stools were a little smaller than I expected (I never checked measurement so it was my fault) height is perfect but they are a little smaller width wise than I envisioned. I ordered another pair for my island. The seat is very comfortable to sit on. I would definitely recommend...have some wood glue on hand just in case ;)
These are perfect, exactly what I was looking for. Look very expensive and I get lots of compliments on these.
I ordered a set of two and just got them today. We put one together and I am very pleased with the look and comfort of it, so came back to order another set. The picture with the stools at the table is the closest to the actual colors of the wood and fabric. They are comfortable and do not seem small in seat size to me at all. I do think they could be a tad bit higher for counter height, but I think I can adjust that with some pads for the feet.
Great stool for the price. Get tons of compliments. Good quality, easy to put together.

subset: commoncrawl


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Single Entry Sweepstakes
BHG.com/RoomMakeover – BHG Room Makeover SweepstakesEnter at bhg.com/roommakeover now through September 30th for a chance to win a $5,000 room makeover from Better Homes and Gardens design expert!
WallFlower Jeans Dare To Dream ContestFind out how you can enter for a chance to win a trip for two (2) to meet with YouTube superstar Eva Gutowski during the event of your dream!
AMC.com/RaiseHellSweepstakes – AMC Hell On Wheels Raise Hell SweepstakesThe new Season of Hell on Wheels premiere this Saturday, July 18 at 9/8c on AMC but for now, try your luck at raising hell with Dierks Bentley in San Francisco!
Sail And Soar Sweepstakes: Win a 2015 Ford EdgeEnter for a chance to win either a new Ford Edge or a trip for 2 to the beautiful Pacific Northwest! Go to HallmarkChannel.com now through September 14th to enter.
WinYourChevy.com – Chevrolet Sweepstakes: Win the 2015 Chevrolet Silverado Midnight EditionCalling all Chevy lovers! Now is the time to win your Chevy! Enter at WinYourChevy.com and you could win a 2015 Silverado Midnight Edition plus a trip for two (2) to the 2016 Indianapolis 500 in Indianapolis, Indiana!
FoodNetwork.com/FinestGrillathon – The Finest Grillathon Contest: Ever broken a world record?Calling all BBQ Enthusiasts! Show your grilling skills at FoodNetwork.com/FinestGrillathon for your chance to be part of the team of grill masters who will attempt to break the world record for longest marathon BBQ!
DashToDaytona.com – Ford's Dash to Daytona Sweepstakes: Win a Ford Vehicle Of Your Choice!Looking for a new car/truck? Try winning your own Ford EcoBoost-powered vehicle before you buy! You could even win a trip to your choice of the Rolex 24 at Daytona or the Daytona 500 in 2016!
HGTV.com/25Grand – HGTV 25 Grand in Your Hand Sweepstakes (Code Word)Enter the Buying and Selling code word online at hgtv.com/25grand for a chance to win 25 Grand! Tune in to HGTV every Wednesday for another chance to win!
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It was perfect.
We were thrilled at how easy it was to order and have delivered to our room our food for our vacation week. We think the pricing was very good and comparable to what we pay all year. Service was excellent! Thank you.
Awesome service. On time, fantastic products. We will use them again and again!


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Content not available in English. Sorry for the inconvenience
El popular actor y monologuista gallego Carlos Blanco sube una vez más al escenario del Jazz Club Dado Dadá.Toda la info aquí
Festival featuring the promotion and tasting of ham, which is held on August 14 in the parish of Bermés (Lalín) and will reach its 16th year in 2014. Cured and roast ham is served, along with bread and wine.
San Caralampio is held in Melide on the second Sunday in September. This festival, also known as the Festival of the Drunks, has Bacchus reminiscences and is devoted to wine.
Lalín's feast day is held on the first Sunday after September 18th in honour of Our Lady of Sorrows. The festivities last for 5 days, since Monday and Tuesday are local holidays.


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Man Arrested at GJ Hotel for Drug Possession, Distribution
Posted: 01/28/2009 - Deputies with the Mesa County Sheriff's Office arrest a man for Meth possession at a local motel. Inside the room they find a lot more than drugs, numerous items of pornography were also found. Now the man is facing two felony charges and multiple other misdemeanors.


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There are currently 337 users online. 134 members and 203 guests
Most users ever online was 947, 12-07-2013 at 00:35.
Diy tablecloth hammocks in use.
They overslept.
Using the CRL that Derek Hansen showed us a while back.
Not for the V but mainly for the ease of centering the tarp.
Generally hang
I'm posting this because since they are only ten, that qualifies them as new hangers. They usually sleep in bed, but last night they decided to try theibgary Today, 08:22
Rule 34 of the internet.mychal Today, 08:21
That's a good idea. I use gear hammocks a lot, and I have a GT UL. The GT UL would do that job. Good idea.
For what it's worth, I've been
Good advice. Tried and true. Agree this should be a sticky.The Tree Frog Today, 08:16
I hope the supply holds out until payday tomorrow!ADKGuy Today, 08:16
Gotta love waterfront real estate!LuvmyBonnet Today, 08:16


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Democrat in LA Dist. Attny Race Gets Porn Star Endorsement
Well, what could be better than getting the endorsement of a porn star if you are running for District Attorney? Nothing says "law enforcement" like getting the slut industry behind you like Democrat Los Angeles DA candidate Jackie Lacey has!
I wrote about Lacey last week when I found out she had abused her position as an officer of the courts in order to get out from under accepting the consequences of a car accident that she and her husband caused, but this new turn to her campaign for the DA's office is a pip.
Lacey's opponent Alan Jackson recently criticized Lacey for having had a fundraiser with former porn star, Kira Reed Lorsch. And there is no question about the truth of this claim, either. Kira Lorsch's husband even mentioned they hosted a Lacey fundraiser in an October 21 Facebook posting on his own page.
Kira Reed Lorsch is "famous" for such "work" as Naked Happy Girls and Sexcetera, not to mention such scintillating fare as the Mistress Club, American Virgin, and Carnal Fate.
One has to wonder what Jackie Lacey's opinion of the porn industry is? Does she fully support it? Is this the sort of role model that we want upholding the law?
So, Lacey has no problem using her position for personal gain and now her campaign is bankrolled by a porn star. There's the kind of role model we want to hold up to our kids, eh?
Also see...
This dad punches the crap out of two girls attacking his daughter. Tell me you wouldn't do the same if a pack of thugs were beating on your child. I...Read More
Warner Todd Huston
Warner Todd Huston is a Chicago-based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart's BigGovernment.com, BigJournalsim.com and all Breitbart News' other sites, RightWingNews.com, CanadaFreePress.com, and many, many others. Additionally, he has been a frequent guest on talk-radio programs across the country to discuss his opinion editorials and current events as well as appearing on TV networks such as CNN, Fox News, Fox Business Network, and various Chicago-based news programs. He has also written for several history magazines and appears in the book "Americans on Politics, Policy and Pop Culture" which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston and follow him on Twitter, on Google Plus , and Facebook.
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Man on the Street VIDEO Finds Californians Have No Idea What Independence Day Is All About
Mark Dice took his video camera to the streets in San Diego, California and asked random folks what they knew
Aqua Budda Says Its Time For My Election Predictions, So Here Goes
OK its time, because thinks have been so close and so fluid, I have yet to make my final prediction
Silent Jews, Again: When Will Leftists Realize That Unbelief Is A Belief?
The distressing phenomenon of refusing to call an objective evil, evil, permeates the leftist culture. Just last night the Twitter


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Pearl Harding, 96, Women's accessories buyer
Pearl T. Harding (nee Tillotson), 96, died on Sept. 23, 2011. Born on Sept. 25, 1914 in Chicago, she was the only child of Cassius C. and Grace M. Tillotson. A longtime resident of Oak Park, she worked most of her life in the women's fashion industry as an accessories buyer for various department stores, including Wallace Gilmour Inc., in Oak Park.
Ms. Harding is survived by her dear friends, Bruce and Laurie Knowlton; and the many families of the Parkview Presbyterian Church. A memorial service will be held in her honor on Sunday, Oct. 23 at 1 p.m. at Parkview Presbyterian Church, 641 S. Oak Park Ave. in Oak Park.
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|By Marketwired .
Article Rating:
|August 8, 2014 05:08 PM EDT
TORONTO, ONTARIO -- (Marketwired) -- 08/08/14 -- Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX: CAR.UN) announced today strong operating and financial results for the three and six months ended June 30, 2014.
Three Months Ended Six Months Ended June 30 June 30 2014 2013 2014 2013 ---------------------------------------------------------------------------- Operating Revenues (000s) $ 125,411 $ 117,686 $ 251,944 $ 233,010 Net Operating Income ("NOI") (000s) (1) $ 78,089 $ 71,475 $ 149,464 $ 134,966 NOI Margin (1) 62.3% 60.7% 59.3% 57.9% Normalized Funds From Operations ("NFFO") (000s) (1) $ 47,113 $ 42,582 $ 90,026 $ 78,768 NFFO Per Unit - Basic (1) $ 0.431 $ 0.425 $ 0.826 $ 0.787 Weighted Average Number of Units - Basic (000s) 109,211 100,230 108,964 100,086 NFFO Payout Ratio (1) 68.9% 68.0% 71.7% 73.2% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) NOI, NFFO and NFFO per Unit are measures used by Management in evaluating operating performance. Please refer to the cautionary statements under the heading "Non-IFRS Financial Measures" and the reconciliations provided in this press release. -- Strong occupancies and increased average monthly rents, combined with contributions from acquisitions, drive 6.6% and 8.1% increase in revenues in second quarter and first six months of June 30, 2014, respectively -- Average monthly rents for same residential properties up 2.7% in 2014 compared to last year -- Portfolio occupancy remains strong at 98.3% -- NFFO up 10.6% in second quarter and 14.3% for six months ended June 30, 2014 -- Strong accretive growth as NFFO per Unit for six months ended June 30, 2014 up 5.0% despite 9% increase in the weighted average number of Units outstanding. -- Same property NOI up 5.4% for the three and six months ended June 30, 2014 -- NOI margin increased to 62.3% and 59.3%, respectively, for the three and six months ended June 30, 2014 -- Closed mortgage refinancings (excluding acquisitions) for $413.8 million in 2014, including $248.2 million for renewals of existing mortgages and $165.5 million for additional top up financing with a weighted average term to maturity of 10 years, and a weighted average interest rate of 3.38%.
"We generated yet another quarter of strong growth as same property NOI rose a significant 5.4% while our track record of making accretive acquisitions contributed to increased cash flows," commented Thomas Schwartz, President and CEO. "Looking ahead, we are confident our proven operational programs, energy management and purchasing systems will continue to enhance net operating income and NOI margins."
Three Months Ended Six Months Ended June 30 June 30 2014 2013 2014 2013 ---------------------------------------------------------------------------- Overall Portfolio Occupancy (1) 98.3% 98.4% Overall Portfolio Average Monthly Rents (1),(2) $ 958 $ 989 Operating Revenues (000s) $ 125,411 $ 117,686 $ 251,944 $ 233,010 Net Rental Revenue Run- Rate (000s) (1),(3),(4) $ 477,905 $ 448,881 Operating Expenses (000s) $ 47,322 $ 46,211 $ 102,480 $ 98,044 NOI (000s) (4) $ 78,089 $ 71,475 $ 149,464 $ 134,966 NOI Margin (4) 62.3% 60.7% 59.3% 57.9% Number of Suites and Sites Acquired - 510 - 773 Number of Suites Disposed 338 - 338 - ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) As at June 30. (2) Average monthly rents are defined as actual rents, net of vacancies, divided by the total number of suites and sites in the portfolio and do not include revenues from parking, laundry or other sources. (3) For a description of net rental revenue run-rate, see the Results of Operations section in the MD&A for the year ended June 30, 2014. (4) Net rental revenue run-rate and NOI are measures used by Management in evaluating operating performance. Please refer to the cautionary statements under the heading "Non-IFRS Financial Measures" and the reconciliations provided in this press release.
Operating Revenues
For the three and six months ended June 30, 2014, total operating revenues increased by 6.6% and 8.1%, respectively, compared to the same periods last year primarily due to the contribution from acquisitions, higher average monthly rents, and continuing strong occupancies. For the three and six months ended June 30, 2014, ancillary revenues, including parking, laundry and antenna income, rose by 7.6% and 10.7%, respectively, compared to the same periods last year, due to contributions from acquisitions and Management's continued focus on maximizing the revenue potential of its property portfolio.
CAPREIT's annualized net rental revenue run-rate as at June 30, 2014 increased to $477.9 million, up 6.5% from $448.9 million as at June 30, 2013 primarily due to acquisitions completed within the past twelve months and strong increases in average monthly rents. Net rental revenue run-rate net of dispositions for the twelve months ended June 30, 2014 was $468.9 million (2013 - $429.6 million).
Portfolio Average Monthly Rents ("AMR")
Properties Owned Prior to Total Portfolio June 30, 2013 As at June 30, 2014 2013 2014 2013(1) Occ. Occ. Occ. Occ. AMR % AMR % AMR % AMR % -------------------------------------------------------------------------- Average Residential Suites $ 1,069 98.4 $ 1,044 98.3 $ 1,072 98.4 $ 1,044 98.2 -------------------------------------------------------------------------- Average MHC Land Lease Sites $ 350 97.7 $ 446 99.4 $ 458 99.4 $ 446 99.4 -------------------------------------------------------------------------- Overall Portfolio Average $ 958 98.3 $ 989 98.4 $ 1,014 98.5 $ 988 98.3 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Prior period's comparable AMR and occupancy have been restated for (1) properties disposed of since July 1, 2013.
Average monthly rents for residential suites increased by 2.4% to $1,069 and occupancy increased to 98.4% as at June 30, 2014 due to ongoing successful sales and marketing strategies and continued strength in the residential rental sector in the majority of CAPREIT's regional markets. For the MHC land lease portfolio, average monthly rents decreased to $350 as at June 30, 2014, compared to $446 as at June 30 2013, primarily due to the recent acquisitions in lower rent geographic regions. Occupancy for the MHC portfolio was 97.7% at June 30, 2014 compared to 99.4% the same period last year.
Average monthly rents for residential suites owned prior to June 30, 2013 increased as at June 30, 2014 to $1,072 from $1,044 as at June 30, 2013, an increase of 2.7% from the same period last year with occupancies rising to 98.4% from 98.2%.
Suite Turnovers and Lease Renewals For the Three Months Ended June 30, 2014 2013 % % Turnovers Turnovers Change in AMR & Change in AMR & $ % Renewals(1) $ % Renewals(1) -------------------------------------------------------------------------- Suite Turnovers 34.4 3.2 7.2 25.8 2.4 7.4 Lease Renewals 17.2 1.6 20.5 28.7 2.7 19.4 -------------------------------------------------------------------------- Weighted Average of Turnovers and Renewals 21.7 2.0 27.9 2.6 -------------------------------------------------------------------------- -------------------------------------------------------------------------- For the Six Months Ended June 30, 2014 2013 % % Turnovers Turnovers Change in AMR & Change in AMR & $ % Renewals(1) $ % Renewals(1) -------------------------------------------------------------------------- Suite Turnovers 29.8 2.8 12.6 19.3 1.8 12.7 Lease Renewals 17.3 1.6 36.2 29.3 2.7 34.7 -------------------------------------------------------------------------- Weighted Average of Turnovers and Renewals 20.5 1.9 26.6 2.5 -------------------------------------------------------------------------- -------------------------------------------------------------------------- (1) Percentage of suites turned over or renewed during the period based on the total number of residential suites (excluding co-ownerships) held at the end of the period.
The lower rate of growth in average monthly rents on lease renewals during 2014 compared to the prior year is primarily due to the lower mandated guideline increases for 2014 (Ontario - 0.8%, British Columbia - 2.2%), compared to the higher guideline increases in 2013 (Ontario - 2.5%, British Columbia - 3.8%), partially offset by increases due to above guideline increases ("AGI") achieved in Ontario. However, increased portfolio diversification helped mitigate the lower guideline increases. Management continues to pursue AGI applications where it believes increases are supported by market conditions above the annual guideline to raise average monthly rents on lease renewals. For 2015, the permitted guideline increase in Ontario has been increased to 1.6%.
Operating Expenses Three Months Ended Six Months Ended June 30 June 30 ($ Thousands) 2014 %(1) 2013 %(1) 2014 %(1) 2013 %(1) ---------------------------------------------------------------------------- Operating Expenses Realty Taxes$ 13,749 11.0 $ 13,357 11.4 $ 27,959 11.1 $ 27,482 11.8 Utilities 10,832 8.6 9,983 8.5 28,812 11.4 25,599 11.0 Other (2) 22,741 18.1 22,871 19.4 45,709 18.2 44,963 19.3 ---------------------------------------------------------------------------- Total Operating $ Expenses 47,322 37.7 $ 46,211 39.3 $102,480 40.7 $ 98,044 42.1 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) As a percentage of total operating revenues. Comprises R&M, wages, general and administrative, insurance, (2) advertising, and legal costs.
Operating Expenses
Overall operating expenses as a percentage of operating revenues improved to 37.7% and 40.7%, respectively, for the three and six months ended June 30, 2014 compared to 39.3% and 42.1% for the same period last year, due to lower realty taxes, R&M, and insurance costs partially offset by higher utility costs as a percentage of operating revenues.
Net Operating Income
In the three months ended June 30, 2014, NOI improved by $6.6 million or 9.3%, and the NOI margin increased to 62.3% from 60.7% for the same period last year. For the six months ended June 30, 2014, NOI increased by $14.5 million or 10.7%, and the NOI margin increased to 59.3% compared to 57.9% for the same period last year. The increase in NOI margin for the three and six months ended June 30, 2014 was primarily the result of higher operating revenues, lower realty taxes, R&M, and insurance costs partially offset by higher utility costs.
For the three and six months ended June 30, 2014, operating revenues for stabilized suites and sites increased 2.8% and 3.2% respectively, while operating expenses decreased 1.2% and increased 0.3%, respectively, compared to the same periods last year. As a result, for the three and six months ended June 30, 2014, stabilized NOI increased by a significant 5.4% and 5.4%, respectively, compared to the same periods last year.
Three Months Ended Six Months Ended June 30, June 30, 2014 2013 2014 2013 ---------------------------------------------------------------------------- NFFO (000s) $ 47,113 42,582 $ 90,026 $ 78,768 NFFO Per Unit - Basic $ 0.431 $ 0.425 $ 0.826 $ 0.787 Cash Distributions Per Unit $ 0.290 $ 0.283 $ 0.578 $ 0.563 NFFO Payout Ratio 68.9% 68.0% 71.7% 73.2% NFFO Effective Payout Ratio 47.3% 52.4% 48.9% 56.1% ---------------------------------------------------------------------------- ----------------------------------------------------------------------------
As at June 30, 2014 2013 --------------------------------------------------------------------------- Total Debt to Gross Book Value 47.22% 48.42% Total Debt to Gross Historical Cost (1) 56.79% 58.17% Total Debt to Total Capitalization 51.23% 51.84% Debt Service Coverage Ratio (times) (2) 1.59 1.56 Interest Coverage Ratio (times) (2) 2.71 2.61 Weighted Average Mortgage Interest Rate (3) 3.72% 3.81% Weighted Average Mortgage Term to Maturity (years) 6.7 6.1 --------------------------------------------------------------------------- --------------------------------------------------------------------------- (1) Based on historical cost of investment properties. (2) Based on the trailing four quarters ended June 30, 2014. Weighted average mortgage interest rate includes deferred financing (3) costs and fair value adjustments on an effective interest basis. Including the amortization of the realized component of the loss on interest rate hedge settlement of $32.5 million included in Accumulated Other Comprehensive Loss (''AOCL''), the effective portfolio weighted average interest rate at June 30, 2014 would be 3.88% (June 30, 2013 - 4%).
Financial Strength
Management believes CAPREIT's strong balance sheet and liquidity position will enable it to continue to take advantage of acquisition and property capital investment opportunities over the long term.
CAPREIT is achieving its financing goals as demonstrated by the following key indicators:
-- Maintained a conservative ratio of total debt to gross book value of 47.22% as at June 30, 2014; -- Debt service and interest coverage ratios for the quarter ended June 30, 2014 improved to 1.59 times and 2.71 times, respectively, compared to 1.56 times and 2.61 times, respectively, for the same period last year; -- As at June 30, 2014, 97.0% (June 30, 2013 - 94.0%) of CAPREIT's mortgage portfolio was insured by the Canada Mortgage and Housing Corporation ("CMHC"), excluding the mortgages on CAPREIT's MHC land lease sites, resulting in improved spreads on mortgages and overall lower interest costs than conventional mortgages. -- The effective portfolio weighted average interest rate on mortgages has steadily declined to 3.72% as at June 30, 2014 from 3.81% as at June 30, 2013, resulting in significant potential interest rate savings in future years; -- Management expects to raise between $600 million and $650 million in total mortgage renewals and refinancings in 2014 of which $521.6 million has been completed or committed up to August 8, 2014; -- The weighted average term to maturity of the mortgage portfolio has improved from 6.1 years to 6.7 years as at June 30, 2014; -- As at June 30, 2014, CAPREIT has investment properties with a fair value of $218 million that are not encumbered by mortgages and secure only the Acquisition and Operating Facility. Unencumbered investment properties with a fair value over $68 million are expected to be financed reducing the total unencumbered investment properties to approximately $150 million;
Property Capital Investment Plan
During the six months ended June 30, 2014, CAPREIT made property capital investments (excluding disposed properties, head office assets, tenant improvements and signage) of $56.9 million as compared to $52.9 million the same period last year. For the full 2014 year, CAPREIT expects to complete property capital investments of approximately $165 million to $175 million, including approximately $87 million targeted at acquisitions completed since January 1, 2011 and approximately $22 million in high-efficiency boilers and other energy-saving initiatives.
Property capital investments include suite improvements, common areas and equipment, which generally tend to increase NOI more quickly. CAPREIT continues to invest in energy-saving initiatives, including boilers, energy-efficient lighting systems, and water-saving programs, which permit CAPREIT to mitigate potentially higher increases in utility and R&M costs and significantly improve overall portfolio NOI.
Subsequent Event
On July 4, 2014, CAPREIT announced that the Toronto Stock Exchange approved its notice of intention to make a normal course issuer bid for its Units as appropriate opportunities arise from time to time. CAPREIT's normal course issuer bid will be made in accordance with the policies of the TSX. CAPREIT may purchase its Units during the period from July 8, 2014 to July 7, 2015. Pursuant to the notice and subject to the market price of its Units and other considerations, CAPREIT may acquire over the next 12 months up to 10,659,524 Units, representing 10% of the public float. The average daily trading volume ("ADTV") for the six calendar months prior to the date hereof was 258,670 Units and CAPREIT will be permitted to re-purchase up to 25% of the ADTV on any trading day (25% being 64,668 Units).
On July 31, 2014, CAPREIT completed the acquisition of a 213-suite apartment portfolio in Charlottetown, Prince Edward Island. The purchase price for the portfolio was approximately $19.6 million, satisfied by the assumption of existing mortgages totaling approximately $14.8 million bearing an effective weighted average stated interest rate at 3.79% and weighted average term to maturity of 3.0 years, with the remaining funded from CAPREIT's Acquisition and Operating credit facility.
Additional Information
More detailed information and analysis is included in CAPREIT's unaudited condensed consolidated interim financial statements and MD&A for the three and six months ended June 30, 2014, which have been filed on SEDAR and can be viewed at www.sedar.com under CAPREIT's profile or on CAPREIT's website on the investor relations page at www.capreit.net.
Conference Call
A conference call hosted by Thomas Schwartz, President and CEO and the CAPREIT Management Team, will be held Monday, August 11, 2014 at 10:00 am EST. The telephone numbers for the conference call are: Local/International: (416) 340-2216, North American Toll Free: (866) 223-7781.
A slide presentation to accompany Management's comments during the conference call will be available one hour and a half prior to the conference call. To view the slides, access the CAPREIT website at www.capreit.net, click on "Investor Relations" and follow the link at the top of the page. Please log on at least 15 minutes before the call commences.
The telephone numbers to listen to the call after it is completed (Instant Replay) are local/international (905) 694-9451 or North American toll free (800) 408-3053. The Passcode for the Instant Replay is 5855136#. The Instant Replay will be available until midnight, August 18, 2014. The call and accompanying slides will also be archived on the CAPREIT website at www.capreit.net. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net.
About CAPREIT
CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities primarily located in and near major urban centres across Canada. As at June 30, 2014, CAPREIT had owning interests in 41,216 residential units, comprised of 35,034 residential suites and 29 manufactured home communities ("MHC") comprising 6,182 land lease sites. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure which can be found under our profile at www.sedar.com.
Non-IFRS Financial Measures
CAPREIT prepares and releases unaudited quarterly and audited consolidated annual financial statements prepared in accordance with IFRS. In this and other earnings releases and investor conference calls, as a complement to results provided in accordance with IFRS, CAPREIT also discloses and discusses certain non-IFRS financial measures, including Net Rental Revenue Run-Rate, NOI, FFO, NFFO and applicable per Unit amounts and payout ratios. These non-IFRS measures are further defined and discussed in the MD&A released on August 8, 2014, which should be read in conjunction with this press release. Since Net Rental Revenue Run-Rate, NOI, FFO and NFFO are not determined by IFRS, they may not be comparable to similar measures reported by other issuers. CAPREIT has presented such non-IFRS measures as Management believes these non-IFRS measures are relevant measures of the ability of CAPREIT to earn and distribute cash returns to Unitholders and to evaluate CAPREIT's performance. A reconciliation of Net Income and such non-IFRS measures including Adjusted Funds From Operations ("AFFO") is included in this press release. These non-IFRS measures should not be construed as alternatives to net income (loss) or cash flow from operating activities determined in accordance with IFRS as an indicator of CAPREIT's performance.
Cautionary Statements Regarding Forward-Looking Statements
Certain statements contained, or contained in documents incorporated by reference, in this press release constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to CAPREIT's future outlook and anticipated events or results and may include statements regarding the future financial position, business strategy, budgets, litigation, projected costs, capital investments, financial results, taxes, plans and objectives of or involving CAPREIT. Particularly, statements regarding CAPREIT's future results, performance, achievements, prospects, costs, opportunities and financial outlook, including those relating to acquisition and capital investment strategy and the real estate industry generally, are forward-looking statements. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or the negative thereof or other similar expressions concerning matters that are not historical facts. Forward-looking statements are based on certain factors and assumptions regarding expected growth, results of operations, performance and business prospects and opportunities. In addition, certain specific assumptions were made in preparing forward-looking information, including: that the Canadian and Ireland economies will generally experience growth, however, may be adversely impacted by the global economy; that inflation will remain low; that interest rates will remain low in the medium term; that Canada Mortgage and Housing Corporation ("CMHC") mortgage insurance will continue to be available and that a sufficient number of lenders will participate in the CMHC-insured mortgage program to ensure competitive rates; that the Canadian capital markets will continue to provide CAPREIT with access to equity and/or debt at reasonable rates; that vacancy rates for CAPREIT properties will be consistent with historical norms; that rental rates will grow at levels similar to the rate of inflation on renewal; that rental rates on turnovers will remain stable; that CAPREIT will effectively manage price pressures relating to its energy usage; and, with respect to CAPREIT's financial outlook regarding capital investments, assumptions respecting projected costs of construction and materials, availability of trades, the cost and availability of financing, CAPREIT's investment priorities, the properties in which investments will be made, the composition of the property portfolio and the projected return on investment in respect of specific capital investments.
Although the forward-looking statements contained in this press release are based on assumptions, Management believes they are reasonable as of the date hereof, there can be no assurance actual results will be consistent with these forward-looking statements; they may prove to be incorrect. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond CAPREIT's control, that may cause CAPREIT or the industry's actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risks related to: reporting investment properties at fair value, real property ownership, leasehold interests, co-ownerships, investment restrictions, operating risk, energy costs and hedging, environmental matters, insurance, capital investments, indebtedness, interest rate hedging, foreign operation and currency risks, taxation, harmonization of federal goods and services tax and provincial sales tax, government regulations, controls over financial accounting, legal and regulatory concerns, the nature of units of CAPREIT ("Trust Units") and of CAPREIT's subsidiary, CAPREIT Limited Partnership ("Exchangeable Units") (collectively, the "Units"), unitholder liability, liquidity and price fluctuation of Units, dilution, distributions, participation in CAPREIT's distribution reinvestment plan, potential conflicts of interest, dependence on key personnel, general economic conditions, competition for residents, competition for real property investments, continued growth and risks related to acquisitions. There can be no assurance the expectations of CAPREIT's Management will prove to be correct. These risks and uncertainties are more fully described in regulatory filings, including CAPREIT's Annual Information Form, which can be obtained on SEDAR at www.sedar.com, under CAPREIT's profile, as well as under Risks and Uncertainties section of the MD&A released on August 8, 2014. The information in this press release is based on information available to Management as of August 8, 2014. Subject to applicable law, CAPREIT does not undertake any obligation to publicly update or revise any forward-looking information.
SELECTED FINANCIAL INFORMATION Condensed Balance Sheets June 30, December 31, As at 2014 2013 ($ Thousands) -------------------------------------------------------------------------- Investment Properties $ 5,497,243 $ 5,459,218 Total Assets 5,673,542 5,558,934 Mortgages Payable 2,576,142 2,457,182 Bank Indebtedness 117,828 187,030 Total Liabilities 2,842,542 2,801,465 Unitholders' Equity 2,831,000 2,757,469 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Condensed Income Statements Three Months Ended Six Months Ended June 30, June 30, ($ Thousands) 2014 2013 2014 2013 --------------------------------------------------------------------------- Net Operating Income 78,089 71,475 149,464 134,966 Trust Expenses (6,640) (5,306) (11,369) (9,681) Unrealized Gain on Remeasurement of Investment Properties 32,935 10,784 37,137 44,439 Remeasurement of Exchangeable Units (249) 415 (260) 311 Unit-based Compensation Expenses (6,225) 5,385 (7,295) 3,675 Interest on Mortgages Payable and Other Financing Costs (24,926) (23,125) (48,845) (47,143) Interest on Bank Indebtedness (1,486) (1,490) (3,378) (2,984) Interest on Exchangeable Units (47) (46) (93) (105) Other Income 1,355 780 3,414 3,265 Amortization (596) (522) (1,190) (1,039) Unrealized and Realized Loss on Derivative Financial Instruments (2,574) (170) (2,650) (78) Gain (Loss) on Foreign Currency Translation 2,646 (6) 2,680 (6) --------------------------------------------------------------------------- Net Income 72,282 58,174 117,615 125,620 --------------------------------------------------------------------------- Other Comprehensive Income (Loss) $ 2,323 $ 1,593 $ (190) $ 8 --------------------------------------------------------------------------- Comprehensive Income $ 74,605 $ 59,767 $ 117,425 $ 125,628 --------------------------------------------------------------------------- --------------------------------------------------------------------------- Condensed Statements of Cash Flows Three Months Ended Six Months Ended June 30, June 30, 2014 2013 2014 2013 ($ Thousands) -------------------------------------------------------------------------- Cash Provided By Operating Activities: Net Income $ 72,282 $ 58,174 $ 117,615 $ 125,620 Items in Net Income Not Affecting Cash: Changes in Non-cash Operating Assets and Liabilities (8,991) (13,032) (8,492) (14,390) Realized and Unrealized Gain on Remeasurements (30,112) (11,029) (34,227) (44,672) Gain on Sale of Investments (717) - (717) (1,737) Unit-based Compensation Expenses 6,225 (5,385) 7,295 (3,675) Items Related to Financing and Investing Activities 23,897 23,187 47,666 46,125 Other 1,902 2,707 3,790 2,347 -------------------------------------------------------------------------- Cash Provided By Operating Activities 64,486 54,622 132,930 109,618 -------------------------------------------------------------------------- Cash Used In Investing Activities Acquisitions (141) (72,423) (11,497) (113,145) Capital Investments (32,476) (28,689) (76,009) (61,871) Disposition of Investments 7,599 - 7,599 7,815 Other (50) (291) 348 (92) -------------------------------------------------------------------------- Cash Used In Investing Activities (25,068) (101,403) (79,559) (167,293) -------------------------------------------------------------------------- Cash Provided By Financing Activities Mortgages, Net of Financing Costs 91,548 19,311 110,722 106,773 Bank Indebtedness (85,348) 74,492 (72,051) 44,405 Interest Paid (24,122) (23,504) (48,638) (46,787) Hedge Settlement - (2,171) - (3,492) Proceeds on Issuance of Units 235 682 384 785 Distributions, Net of DRIP and Other (21,731) (22,029) (43,788) (44,009) -------------------------------------------------------------------------- Cash Provided By Financing Activities (39,418) 46,781 (53,371) 57,675 -------------------------------------------------------------------------- Changes in Cash and Cash Equivalents During the Period - - - - Cash and Cash Equivalents, Beginning of Period - - - - -------------------------------------------------------------------------- Cash and Cash Equivalents, End of Period $ - $ - $ - $ - -------------------------------------------------------------------------- -------------------------------------------------------------------------- SELECTED NON-IFRS FINANCIAL MEASURES Reconciliation of Net Income to FFO and to NFFO Three Months Ended Six Months Ended June 30, June 30, 2014 2013 2014 2013 ($ Thousands, except per Unit amounts) ------------------------------------------------------------------------- Net Income $ 72,282 $ 58,174 $ 117,615 $ 125,620 Adjustments: Unrealized Gain on Remeasurement of Investment Properties (32,935) (10,784) (37,137) (44,439) Remeasurement of Exchangeable Units 249 (415) 260 (311) Remeasurement of Unit- based Compensation Liabilities 4,681 (6,076) 4,935 (4,831) Interest on Exchangeable Units 47 46 93 105 Corporate taxes expense 1,405 - 1,405 - Amortization of Property, Plant and Equipment 596 522 1,190 1,039 ------------------------------------------------------------------------- FFO $ 46,325 $ 41,467 $ 88,361 $ 77,183 Adjustments: Unrealized and Realized Loss on Derivative Financial Instruments 2,574 170 2,650 78 Amortization of Loss from AOCL to Interest and Other Financing Costs 828 845 1,649 1,597 Net Mortgage Prepayment Cost 749 94 763 1,641 Realized Gain on Sale of Investments (717) - (717) (1,737) (Gain) Expense on Foreign Currency Translation (2,646) 6 (2,680) 6 ------------------------------------------------------------------------- NFFO $ 47,113 $ 42,582 $ 90,026 $ 78,768 NFFO per Unit - Basic $ 0.431 $ 0.425 $ 0.826 $ 0.787 NFFO per Unit - Diluted $ 0.425 $ 0.419 $ 0.815 $ 0.775 ------------------------------------------------------------------------- Total Distributions Declared (1) $ 32,484 28,976 $ 64,522 $ 57,678 ------------------------------------------------------------------------- NFFO Payout Ratio (2) 68.9% 68.0% 71.7% 73.2% ------------------------------------------------------------------------- Net Distributions Paid (1) $ 22,306 $ 22,310 $ 43,999 $ 44,224 Excess NFFO Over Net Distributions Paid $ 24,807 $ 20,272 $ 46,027 $ 34,544 ------------------------------------------------------------------------- Effective NFFO Payout Ratio (3) 47.3% 52.4% 48.9% 56.1% ------------------------------------------------------------------------- ------------------------------------------------------------------------- (1) For a description of distributions declared and net distributions paid, see the Non-IFRS Financial Measures section in the MD&A for the three and six months ended June 30, 2014. (2) The payout ratio compares distributions declared to NFFO. (3) The effective payout ratio compares net distributions paid to NFFO. Reconciliation of NFFO to AFFO Three Months Ended Six Months Ended June 30 June 30 2014 2013 2014 2013 ($ Thousands, except per Unit amounts) ------------------------------------------------------------------------- NFFO $ 47,113 $ 42,582 $ 90,026 $ 78,768 Adjustments: Provision for Maintenance Property Capital Investments (1) (3,849) (3,727) (7,699) (7,455) Amortization of Fair Value on Grant Date of Unit-based Compensation 1,544 691 2,360 1,156 ------------------------------------------------------------------------- AFFO $ 44,808 $ 39,546 $ 84,687 $ 72,469 AFFO per Unit - Basic $ 0.410 $ 0.395 $ 0.777 $ 0.724 AFFO per Unit - Diluted $ 0.405 $ 0.389 $ 0.767 $ 0.713 ------------------------------------------------------------------------- Distributions Declared (2) $ 32,484 $ 28,976 $ 64,522 $ 57,678 ------------------------------------------------------------------------- AFFO Payout Ratio (3) 72.5% 73.3% 76.2% 79.6% ------------------------------------------------------------------------- Net Distributions Paid (2) $ 22,306 $ 22,310 $ 43,999 $ 44,224 Excess AFFO over Net Distributions Paid $ 22,502 $ 17,236 $ 40,688 $ 28,245 ------------------------------------------------------------------------- Effective AFFO Payout Ratio (4) 49.8% 56.4% 52.0% 61.0% ------------------------------------------------------------------------- ------------------------------------------------------------------------- (1) An industry based estimate (see the Non-IFRS Measures section in the MD&A for the three and six months ended June 30, 2014). (2) For a description of distributions declared and net distributions paid, see the Non-IFRS Financial Measures section in the MD&A for the three and six months ended June 30, 2014. (3) The payout ratio compares distributions declared to AFFO. (4) The effective payout ratio compares net distributions paid to AFFO.
Mr. Michael Stein
(416) 861-5788
Mr. Thomas Schwartz
President & CEO
(416) 861-9404
Mr. Scott Cryer
Chief Financial Officer
(416) 861-5771
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Poseidon Bungalows
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TravelPod Member ReviewsPoseidon Bungalows Khao Lak
Very nice view, good food, nice staff
This review is the subjective opinion of a TravelPod member and not of TravelPod.com.
TripAdvisor Reviews Poseidon Bungalows Khao Lak
Travel Blogs from Khao Lak
School holidays and a trip to the lake
... Son floating raft-houses.
Cheow Lan lake was created in 1982 when the dam was built flooding an area of 64 square miles. The landscape is one of limestone crags which form a dramatic backdrop to the lake and in some places almost vertical islands and narrow gorges. The boat trip took just under an hour. We were all ready for some lunch but first were allocated our bamboo huts. There were two rows of huts each reached by walking along floating ...
Koh Lanta family
... evening we had a special dinner on the beach as one of the girls was leaving the next day. Dinner was so tasty we all shared each others food. There was a live singer and we were singing along. She called us up and one of the guys got up on stage, took the guitar and just performed. Amazing. We cheered him on. After dinner we went to the treehouse party. I'd always wanted to do something like this. It was so much fun. There was a dj and live singer ...
Dag 9 - rustdag
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Back to school
... to be in our lesson and who had come in from another class. The girls valiantly struggled through but it was increasingly difficult for them (and us) to be heard over the rumpus that the boys were making. We were glad when it was over and we could return to Khao Lak.
I spend most of my early evenings reading on my verandah. As dusk falls the sounds emanating from the rainforest behind my bungalow increase and my resident geckos venture out. Throughout my ...
Long weekend for the King's birthday
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text:
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Cumberland Medical Center SnfCrossville, TN 38555
Wyndridge Health and Rehab CenterCrossville, TN 38555"I was searching for a nursing home through a senior directory website and WyndRidge was one of the three choices the person I talked to gave me. It was an older building and thus it has an older..." More
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Permits : To feel the real adventure
Permits: Inner line permits are usually required for some of Lahaul & Spiti, and Kinnaur. Regulations, and their implemantations, have noticeably relexed in recent times.
Check the current regulations with the relevent authorities or other travellers.
Foreigners can travel between Leh & Manali without permit. A permit is not usually required for travel between Leh, or Manali, and Kaza, the capital of the Spiti sub-district.
From Tabo to Rekong Peo, you need a permit, but from Rekong Peo to Shimla, no permit is required.
Permits can be obtained from the District and sub-district magistrates offices in most regional centres. It's better to get them in Kaza or Rekong Peo so you don't waste any of your seven days permit just getting to these places.Related to:
- Adventure Travel
- Road Trip
- Motorcycle
Though Himachal Pradesh offers abundent Hiking, Trekking and mountain climbing possibilities one must be extremely careful. Though the terrain itself varies and hence can be chosen as per the trekker's preferences and experience. One of the most important and quite underestimated factor is the altitude. Manali itself is only at an altitude of around 2000 meters. The air is most definately thin and any person can notice the difference in exursion on the body as a result of less oxygen.
It is crucial that you constantly consult with a trekking map and make sure you account for altitude along with distance and terrain, while making your hiking / Trekking plans.Related to:
- Budget Travel
- Hiking and Walking
- Mountain Climbing
tips for tourists courtesy Govt of Himachal prades
Found this posted at entrance to Nagar castle.
Applicable to all.
Essentials same .
Surprisingly didn't see any graffiti.Related to:
- Eco-Tourism
- 1
State of Himachal Pradesh Hotels
Johnson's Lodge
We would not have considered this place as it is out of our budget. However, after talking to the...more
Hotel Willow Banks
I stayed at this hotel and it was very great stay. The rooms are spacious and clean with great...more
Bella Heights
Temple Road, McLeod Ganj, Himachal Pradesh, India
Satisfaction: Average
Good for: Solo
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December 17, 2014
| Photo Gallery
Clients will want to sink their teeth (and hands) into these succulent scrubs.
November 20, 2014
| News
NAILS and CND name the top three artists who will be competing for the title of NAILS Next Top Nail Artist at ISSE Long Beach 2015.
November 1, 2014
| Photo Gallery
Add stocking stuffers to your salon's retail section to create a simplified grab-and-go gift selection your clients will thank you for.
October 6, 2014
| Product
The new fall collection features six gel-polishes to match some of Orly's top-selling shade
August 31, 2014
| News
Orly's "It All Started With Pink" campaign won this year's ICMAD Cosmetic Innovator of the Year (CITY) Award for Marketing/Advertising Innovation: Print Ad Marketing. Kallista Daily Moisturizing Cream for Creative Hands won the award for Product Innovation in the Bath & Body category.
July 31, 2014
| Product
Flaunt glowing skin with Rich Renewal Exfoliating Scrubs and Hydrating Crèmes from Orly.
July 28, 2014
Elsbeth Schuetz shares her tips on transitioning clients from summer to fall nail colors.
July 21, 2014
| Product
The product will smooth the nail surface while protecting the nail from UV rays.
July 10, 2014
| Photo Gallery
These individual foot care products, most of which are part of a complete pedicure system, are hand-selected company favorites.
July 9, 2014
| Photo Gallery
Summer is the perfect season to sell your clients on neon color.
June 9, 2014
| Product
The collection includes Tropical Pop, Ablaze, Lush, Neon Heat, Hot Tropics, and Saturated.
May 13, 2014
| Product
Orly's Cuticle Oil+ gives a boost to your client's beauty regimen with a cuticle conditioner made from a nutrient-rich formula of vitamins and oils aimed to soften, condition, and heal dry, problem cuticles.
May 9, 2014
| News
InStyle's April 2014 issue and manicurist Madeline Poole explain the DIY process for spring's top runway trends.
April 2, 2014
| Demo
March 10, 2014
| Article
This spring's mouth-watering shades take us back in time to the soda shoppe, with its dazzling array of colors on every shelf. From cool pastels to juicy citrus shades, we found the sweetest hues in every bottle.
A Light Finish: The Latest in LED Gel Lamp Technology27 photos
Cosmoprof North America 201541 photos
Over 30 years ago, Barielle introduced "Nail Strengthener Cream" as the first product of its kind. Originally formulated to condition the hooves...
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Long Caye Resort
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- Continental Breakfast
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TripAdvisor Reviews Long Caye Resort Glovers Reef Atoll
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Day #1 Adventure
... samba.
As soon as the bus dropped me off, I started to walk around on the path of the lake. It was beautiful. The scenery was outstanding. I got to take some awesome pictures today. I noticed there was a small canoe on the side of the lake, so I hopped in, and started paddling. I have to tell you, I have never been in a lake that was so calm. It was perfect weather too. No rain, just a slight breeze ...
Welcome to Paradise!
... have a rickety boardwalk out to our hut on stilts in the sea. The water below us is shallow and calm, protected by a reef about 100m away, allowing us to spot fish and such right from our deck. The waves breaking on the nearby reef provide one of natures best soundtracks. We have a large decked area at the back of our cabin which is very private, has 2 chairs, and offers us incredible views out to the reefs, breaking waves, and back to the palm tree drenched ...
With wings or without?
... non eventful except for the acrobatics of trying to get into full Ghostbusters gear in order to see a section of their plant that was really doing very little operation in terms of liquid production, and one machine that was pumping out packages of tylenol. Unfortunately there were also no cameras allowed at Johnson & Johnson's facility so were not able to take any pictures.
We ended the day's tour with a talk about how ...
Chapter 5 - The results are in
... taking more vitamins (and plot a contingency plan for times such as these).
Boredom can also be an unforeseen situation I might face. How long can one stay drunk without having a slight case of "dead"? I know: alcohol is not the answer. But then again, alcohol is the question. "Yes" is the answer. I digress.
During this one-week test I also ran into another minor problem: underwear. As it's been quite hot, I only managed to ...
Chapter 4 - The test
... eBooks, but it wasn't taking my mind off the long trip. At least it seemed to pass by quite quickly.
Well, let's see if I can get some shut-eye on the bus down to the beach as I'm quite knackered. Happy new year, I guess.
"We'll be saying a big hello to all intelligent lifeforms everywhere and to everyone else out there, the secret is to bang the rocks together, guys." - The Hitchhiker's Guide to the ...


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The July 2015 Issue of
Small Boats Monthly
An on-line magazine crafted especially for those who store and maintain their boats at home.
- The Mallard — A voyage from fantasy to reality
- The SailZO — A new kit boat
- American Venice — Chesapeake Bay's Smith Island
- Reader Built Boat PILGRIM is a Redwing 18
- Also featuring the making of rope fenders, an Emberlit stove, and a breathable dry suit
July/August 2015, Issue 245
WoodenBoat Magazine
- YANKEE and LIVE YANKEE, Two Remarkable R-boats
- Runabout Restoration on the Layaway plan
- Metal Fabrication in the Woodshop
- Restoring a 1936 Danish double-ender—and reconstructing her history
- A Muskoka Lakes yacht from another era
- Rigging and Tuning a Wooden Boat
- C. Raymond Hunt and the development
of the deep-V hull
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The Whiskey Plank
WoodenBoat magazine contributors write a series of blogposts.
Read the latest "The Bights of Andros—Part One: South Bight" by Reuel Parker.
Featured Launching
Verity is the first Bristol 16, designed in tandem with a 32 foot motor launch for the same...
Upcoming Events
Friday, July 31, 2015 to Saturday, August 1, 2015Christy's Landing Restaurant 2952 Waubesa Avenue, Madison WI On the western shore of Lake Waubesa 608-222-5391
Saturday, August 1, 2015Dossin Great Lakes Maritime Museum, 100 The Strand , Belle Isle, Detroit , MI 48207
Saturday, August 1, 2015
Friday, August 7, 2015 to Saturday, August 8, 2015Door County Maritime Museum 120 N Madison Avenue Sturgeon Bay, WI 54235
Saturday, August 8, 2015Yonkers Paddling & Rowing Club / Beczak Environmental Education Center 35 Alexander St., Yonkers, NY 10701
Build This Boat!
You have an opportunity to build this boat, at no charge — as long as you build it with kids.
MarketPlace – Boats for Sale
A beautiful, better than new, sweet rowing and fast sailing double-ender by Ian Oughtred built...
WoodenBoat Magazine's
Extended Content
Extended content from issues of WoodenBoat magazine: Articles, Sketchbook, videos, and photographs, posted here relate to specific issues of WoodenBoat.
MarketPlace – Online Classifieds
Atlantic Yacht Basin loves classic yachts and wooden boats just like you do! From routine maintenance and seasonal repairs to more complex...
Photos & Videos
Boat Plans & Kits
If you're in the market for a boat to build, this is a fine place to start. And if you are a designer offering plans or kit boats, we invite you to enter your information, there is no charge! This is for boats of ANY hull material.
Lightweight, reasonably seaworthy recreational single with a sliding seat and outriggers....
WoodenBoat Magazine's
Maritime Tour of The Nile River
August 9–20, 2015