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ST. LOUIS, Feb. 2 /PRNewswire-FirstCall/ -- Earnings Highlights In $ millions, except Quarter Ended Year Ended per share data 12/31/2006 12/31/2005 12/31/2006 12/31/2005 Revenues $618.4 $619.8 $2,500.4 $2,508.8 Income from operations 60.5 (3.8) 336.7 77.9 Net income(1) 79.5 (1.0) 260.6 22.5 Fully diluted EPS(2) $0.55 ($0.01) $1.80 $0.17 Adjusted EBITDA(3) $117.7 $47.6 $545.0 $290.2 (1) - Net income available to common shareholders. (2) - Reflects a two-for-one stock split on May 15, 2006. (3) - Adjusted EBITDA is defined and reconciled under "Reconciliation of Non-GAAP Measures" in this release.
Arch Coal, Inc. (NYSE:ACI) today reported record 2006 net income available to common shareholders of $260.6 million, or $1.80 per fully diluted share, compared with $22.5 million, or $0.17 per fully diluted share, in 2005. Income from operations more than quadrupled to $336.7 million and adjusted EBITDA nearly doubled to $545.0 million when compared with 2005. Additionally, revenues were flat on a year-over-year basis, due to the 2005 sale of select operations in Central Appalachia, which affected the comparability of results.
"Arch Coal achieved record results in 2006, with significant growth in our key earnings metrics," said Steven F. Leer, Arch's chairman and chief executive officer. "We have improved on virtually every financial measure, including operating income, earnings per share and adjusted EBITDA. Looking ahead, Arch remains focused on managing our business through the near-term weakness in the U.S. coal markets, while strongly positioning the company to capitalize on expected growth in coal demand later this year and beyond."
In the fourth quarter of 2006, Arch posted earnings per fully diluted share of $0.55 compared with a loss of $0.01 in the prior-year period. Income from operations improved significantly, reaching $60.5 million in the quarter just ended compared with a $3.8 million loss in the fourth quarter of 2005. Adjusted EBITDA more than doubled in the fourth quarter of 2006, increasing to $117.7 million from $47.6 million in the prior-year period.
Arch Increases Operating Margin per Ton in All Regions Arch Coal, Inc. 4Q05 FY05 3Q06 4Q06 FY06 Tons sold (in millions) 33.5 138.8 32.0 33.9 127.4 Average sales price per ton $17.64 $17.25 $16.31 $15.76 $16.57 Cash cost per ton $15.99 $14.81 $12.04 $11.62 $11.87 Cash margin per ton $1.65 $2.44 $4.27 $4.14 $4.70 Total operating cost per ton $17.51 $16.33 $13.71 $13.30 $13.49 Operating margin per ton $0.13 $0.92 $2.60 $2.46 $3.08 Consolidated results may not correspond to regional breakout due to rounding. Above figures exclude transportation costs billed to customers. Operating cost per ton includes depreciation, depletion and amortization per ton. Arch acts as an intermediary on certain pass-through transactions that have no effect on company results. These transactions are not reflected in this table. A supplemental regional schedule for all quarters beginning with FY04 can be found in the investor section of http://www.archcoal.com .
Consolidated operating results were impacted by the sale of select Central Appalachian operations in December 2005, affecting volume and price realization comparability. Consolidated operating margin per ton improved dramatically, totaling $3.08 in 2006 compared with $0.92 in 2005. "Higher price realizations on retained operations, coupled with the success of our process improvement initiatives, served to increase profitability at our mines in 2006," said John W. Eaves, Arch's president and chief operating officer. "Going forward, we will remain focused on controlling costs while maintaining production flexibility in response to weak market conditions."
Powder River Basin 4Q05 FY05 3Q06 4Q06 FY06 Tons sold (in millions) 21.9 90.0 24.6 25.3 96.2 Average sales price per ton $8.86 $8.26 $10.50 $10.10 $10.82 Cash cost per ton $6.41 $6.11 $7.56 $7.54 $7.51 Cash margin per ton $2.45 $2.15 $2.94 $2.56 $3.31 Total operating cost per ton $7.65 $7.30 $8.70 $8.69 $8.67 Operating margin per ton $1.21 $0.96 $1.80 $1.41 $2.15 Above figures exclude transportation costs billed to customers. Operating cost per ton includes depreciation, depletion and amortization per ton. In 2005, Arch acted as an intermediary on certain pass-through transactions that had no effect on company results. These transactions are not reflected in this table.
In the Powder River Basin, sales volume increased 3.4 million tons in the fourth quarter of 2006 compared with the fourth quarter of 2005, driven by the restart of Coal Creek as well as improving rail service during the second half of last year. In 2005, Arch experienced significant rail disruptions resulting from major maintenance and repair work. Similar repair and construction work continued in 2006, the impact of which was less severe than in 2005. For the fourth quarter of 2006, average price realization increased $1.24 per ton over the prior-year period, reflecting the roll-off of lower-priced sales contracts. Operating margin per ton averaged $1.41 in the fourth quarter of 2006, a 16.5 percent increase over the prior-year period.
Sales volume increased to 25.3 million tons during the fourth quarter of 2006, a 2.8 percent increase over the third quarter of 2006, benefiting partially from improving rail service at Arch's Black Thunder mine. Average price realization for this region declined $0.40 per ton against the prior-quarter period, driven by contract mix and volumes tied to market-based pricing. Operating costs for the fourth quarter of 2006 remained generally stable compared with the prior-quarter period.
Western Bituminous 4Q05 FY05 3Q06 4Q06 FY06 Tons sold (in millions) 4.2 18.2 4.2 5.4 18.1 Average sales price per ton $18.60 $19.01 $24.22 $20.62 $22.42 Cash cost per ton $19.56 $13.90 $15.09 $11.85 $12.99 Cash margin per ton ($0.96) $5.11 $9.13 $8.77 $9.43 Total operating cost per ton $20.64 $15.73 $18.02 $14.48 $15.56 Operating margin per ton ($2.04) $3.28 $6.20 $6.14 $6.86 Above figures exclude transportation costs billed to customers. Operating cost per ton includes depreciation, depletion and amortization per ton.
In the Western Bituminous Region, sales volume increased 1.2 million tons in the fourth quarter of 2006 compared with the fourth quarter of 2005, reflecting the longwall outage at West Elk in the fourth quarter of 2005 and the start-up of the Skyline mine in the first half of 2006. Average price realization rose by $2.02 per ton in the fourth quarter of 2006 compared with the prior-year period, resulting from the continued roll-off of lower-priced sales contracts. Operating margin per ton averaged $6.14 in the quarter just ended, benefiting partially from an $11.9 million insurance recovery at West Elk. This recovery finalizes the insurance claim for the spontaneous combustion event at West Elk, representing a total recovery of $41.9 million for the year. During the fourth quarter of 2005, operating margin per ton was impacted by West Elk's mine outage.
Compared with the third quarter of 2006, sales volume increased 1.2 million tons, reflecting full operational run rates at each of the region's mines. Average price realization declined $3.60 per ton compared with the prior-quarter period as additional tons of certain lower-priced legacy contracts were shipped to meet annual customer obligations. Some of these shipments were pushed to the fourth quarter due to the West Elk outage and the extended longwall move at Dugout Canyon during the first and third quarters of 2006, respectively. Operating costs in both the third and fourth quarter of 2006 benefited from insurance recovery settlements related to West Elk. Despite the decline in average price realization, operating margins remained relatively steady quarter over quarter due to the strong cost performance exhibited at all of the mines in this region for the quarter just ended.
Central Appalachia 4Q05 FY05 3Q06 4Q06 FY06 Tons sold (in millions) 7.4 30.5 3.2 3.2 13.1 Average sales price per ton $42.99 $42.73 $50.91 $52.28 $50.76 Cash cost per ton $42.25 $41.01 $42.71 $43.33 $42.37 Cash margin per ton $0.74 $1.72 $8.20 $8.95 $8.39 Total operating cost per ton $44.84 $43.32 $46.76 $47.62 $46.10 Operating margin per ton ($1.85) ($0.59) $4.15 $4.66 $4.66 Above figures exclude transportation costs billed to customers. Operating cost per ton includes depreciation, depletion and amortization per ton. Arch acts as an intermediary on certain pass-through transactions that have no effect on company results. These transactions are not reflected in this table. In addition, Arch services several legacy Magnum contracts by purchasing and supplying third-party coal and records offsetting revenue and expenses against a reserve established to account for these transactions.
In Central Appalachia, volume comparisons were impacted by the divestiture of select operations in December 2005. Average price realization rose by $9.29 per ton in the fourth quarter of 2006 compared with fourth quarter of 2005. Operating margin improved substantially over the same time period, reflecting the continued roll-off of lower-priced sales contracts as well as the divestiture of select operations in this region.
Compared with the third quarter of 2006, average price realization increased $1.37 per ton, benefiting from a slightly larger percentage of metallurgical coal sales in the fourth quarter and the continued roll-off of lower priced sales contracts. Operating costs in the fourth quarter of 2006 increased $0.86 per ton. This increase resulted from an adjustment in the value of coal inventory at Arch's river terminal in Kentucky associated with recent market weakness in the region.
Operating margin averaged $4.66 per ton in 2006 compared with a loss of $0.59 per ton in 2005. "Our margin expansion came in at the high end of our targeted range of $3 to $5 per ton," said Eaves. "Arch effectively managed waning market conditions throughout the year and achieved a solid operating performance in Central Appalachia."
Arch Makes Select Financial Decisions in 2006 to Enhance Shareholder Value
During the fourth quarter of 2006, Arch repurchased 712,400 of its common shares outstanding at an average price of $28.06. Since launching the 14-million-share common stock repurchase program in September 2006, Arch has repurchased a total of 1.6 million shares. These repurchases were funded by a combination of operating cash flows and revolver borrowings.
In April 2006, Arch announced a 50 percent increase in the dividend rate on its common stock. Arch also completed a two-for-one stock split on May 15, 2006. Additionally, in the first half of 2006, the company commenced a $150 million accounts receivable securitization program designed to offer an additional source of low-cost liquidity.
Arch Maintains Focus on Core Values
Arch has a long-standing commitment to safety, evidenced by 10 national and state safety awards earned in 2006. Arch's Skyline mine in Utah was honored with the U.S. Department of Labor's Sentinels of Safety award as the nation's safest underground mine. During 2006, Arch achieved an overall safety record that was three times better than the national coal industry average based on the most recently available industry data, and its second best year on record as measured by its lost time incident rate.
Additionally, Arch worked aggressively during 2006 to extend its productivity advantage, including operating the nation's most productive longwall mine -- Sufco in Utah -- according to the most recent industry data. In fact, Arch estimates that three of the top eight most productive longwall mines in the U.S. last year were company owned operations. Furthermore, Arch's surface operations were three times more productive than the industry average, according to the most recent data available.
Arch continued to excel in the environmental arena, earning the U.S. Department of the Interior's National Good Neighbor award and the top West Virginia award for land reclamation for the fifth time in the last six years. During 2006, Arch also received five other national or state distinctions for excellence in land reclamation, wildlife habitat protection and community service.
"We are proud of the accomplishments in each of Arch's three pillars of performance -- safety, productivity and environmental stewardship," said Leer. "These core values provide the foundation for our singular goal of creating long-term shareholder value in the years to come."
Arch Further Reduces Production Targets Based on Near-Term Market Conditions
Given current weakness in the U.S. coal markets, Arch has elected to further reduce its production target for 2007, and now expects to produce between 130 million and 135 million tons for the full year.
"Based on current market demand, we are confident that leaving more tons in the ground is the right decision," Leer said. "By doing so, we are preserving the value of our low-cost reserves for future periods, when we expect market demand to be stronger."
Leer added that it is apparent that the market does not require the additional tons. "We believe it would be a mistake to force additional tons into a market that is currently oversupplied, particularly when the underlying long-term market fundamentals continue to be very strong," he said.
With the planned production cuts and the signing of a number of commitments during the fourth quarter of 2006, Arch now has approximately 11 million to 16 million tons of 2007 expected production that has yet to be priced.
During the fourth quarter of 2006, Arch signed coal commitments of approximately 15 million tons for 2007 delivery and approximately 5 million tons for 2008 delivery at prices that on average exceeded -- and in many instances significantly exceeded -- the company's average realized pricing for the fourth quarter in the respective basins in which the coal was committed.
Based on current expected production over the next two years, the company has unpriced volumes of between 75 million and 85 million tons in 2008 and between 110 million and 120 million tons in 2009. "Arch expects coal demand to rebound given normal growth in electricity generation as well as growth from new generation demand, a meaningful percentage of which is expected to come online by the end of the decade," said Leer. "Additionally, expected production rationalization in eastern coalfields should benefit coal markets going forward."
Arch Remains Bullish on the U.S. Coal Industry Long-Term
Coal markets weakened in 2006 as mild weather patterns, better than expected performance by competing fuels, increased coal production and a rebuild in generator coal stockpile levels all contributed to dampen coal prices. Arch estimates that coal consumption for power generation declined 0.9 percent last year, driven by an overall reduction in electric generation demand. At the same time, gross domestic product rose by 3.4 percent in 2006 based on recently reported government data. This anomaly of a growing economy and declining coal consumption has occurred only four times in the past 56 years.
Arch estimates that generator coal stockpiles reached 136 million tons in December 2006, representing a 47-day supply, which is above the historical five-year average. Nationally, coal production was up an estimated 26 million tons through December 2006, while coal consumption declined by an estimated 10 million tons over the same time period based on MSHA and EIA estimates. However, production run rates in several key coal supply regions, including Central Appalachia, declined meaningfully throughout the four quarters of 2006.
Looking beyond the near-term market pressures, Arch strongly believes in the long-term fundamental outlook of the U.S. coal industry. More normal weather patterns, coupled with production rationalization in Central Appalachia, could help to ameliorate the supply and demand imbalance of 2006. Additionally, planned new domestic coal-fueled capacity announcements have reached 96 gigawatts to date, equating to more than 300 million tons of annual coal demand. Arch estimates that approximately 15 gigawatts of generating capacity is currently under construction or in advanced stages of development with completion expected by 2010, which could translate into nearly 60 million tons of incremental coal demand over that time frame. Another 15 gigawatts of announced generating capacity appears to be gaining traction as well. Demand growth from new facilities represents a key component in the favorable long-term outlook for coal.
Additionally, public interest in domestic energy security continues to favor the adoption of coal conversion and other clean-coal technologies. Growing Congressional support is focusing attention on alternative fuel sources including coal-to-liquids. Several industry projects are progressing, including DKRW Advanced Fuel's proposed coal-to-liquids facility. Arch owns a 25 percent interest in DKRW Advanced Fuels and Arch's Carbon Basin coal reserves in Wyoming would serve as feedstock for the potential plant. The advancement of coal-conversion technologies represents a positive long-term development for coal.
Arch Targets Lower Capital Spending in 2007
In 2006, Arch completed two of three major expansion projects -- the re-opening of the Coal Creek surface mine in the Powder River Basin and the addition of the Skyline underground mine in the Western Bituminous Region. "The addition of Coal Creek and Skyline to our portfolio of mines was a highlight for Arch this year," said Leer. "We believe the restart of these highly competitive low-cost mines -- at relatively low capital costs -- further enhances our strong competitive position and should deliver significant value for the company in future periods."
Arch also made considerable progress on the development of the Mountain Laurel complex in Central Appalachia. This strategic asset will become the centerpiece of this region's operations by 2008. During the fourth quarter of 2007, the production from the start-up of the longwall at Mountain Laurel's underground mine is expected to replace the production from the depleting longwall at Mingo Logan. Arch anticipates that Mountain Laurel's costs will be substantially lower than Mingo Logan's, and that this transition will lower overall operating costs at its Central Appalachian operations. Mingo Logan will continue as a continuous miner operation, with targeted production of approximately 1 million tons per year.
Arch is proactively reducing its discretionary capital spending in the current market environment, and is now targeting total capital spending, excluding reserve additions, of between $240 million and $280 million in 2007. This reduced level of capital expenditures follows a peak year that encompassed spending for three organic growth projects. "Despite the very attractive long-term outlook for U.S. coal, we believe it is simply good business to align capital spending levels with the current soft market environment and our reduced planned production levels," said Eaves.
Included in the 2007 capital spending forecast is approximately $110 million for the completion of the Mountain Laurel underground mine. In addition, the company expects to invest approximately $25 million this year as part of the cost of replacing the south rail loadout at Black Thunder. As previously announced in the fourth quarter of 2005, Arch completed a reserve swap and sold its south loadout, rail spur and an idle office complex for $85 million. As part of this transaction, Arch signed an exclusive lease on the loadout facility that expires in October 2008.
Arch Provides Earnings Outlook for 2007 Arch has set its guidance for full year 2007 as follows: -- Reflecting the near-term market conditions and the steps to match our anticipated production to market requirements, Arch currently expects fully diluted earnings per share to be between $1.25 and $2.00. Arch's actual results ultimately will be significantly influenced by the market demand requirements, the company's final production levels in 2007, and the pricing Arch achieves on its remaining unpriced tons. -- Adjusted EBITDA is expected to be in the $530 million to $650 million range. -- Sales volume is expected to be 130 million to 135 million tons, excluding 2 million pass-through tons that Arch currently services from the 2005 sale of select Central Appalachian operations. -- Capital expenditures are projected to be between $240 million and $280 million. -- Depreciation, depletion and amortization is expected to be between $250 million and $260 million. -- Arch's tax rate is projected to be approximately 10 percent to 13 percent.
"We believe the correction in the U.S. coal markets to be short-term in nature," said Leer. "Nonetheless, Arch is taking proactive steps to rationalize production targets, contain costs, execute process improvement initiatives and optimize return on capital. We have worked hard to reorient our mines over the past few years to maintain the flexibility to meet demand and still run efficiently."
Given the current market conditions, including weather-related shipping problems in January, Arch expects the first quarter of 2007 to be particularly challenging. "Consequently, we expect the first quarter to be our weakest operating period of the year, with Arch's profitability to be slightly above break-even," said Leer.
"Our value-driven market strategy has compelled us to curtail production in lieu of oversupplying a weak market," said Leer. "Arch is sharply focused on managing the business to create long-term value for shareholders. We believe that greater value is achieved by meeting market needs rather than by forcing unwanted coal into the market. As such, we are committed to making the right decisions in 2007 in order to retain upside potential in the years ahead."
"This strategy is driven by our strong belief in the long-term fundamentals of the U.S. coal markets," continued Leer. "Increased energy consumption around the world is fueling the need for additional power generation and coal is the least expensive and most abundant resource available to meet that need. In addition, the significant level of investment in new coal-fueled generator capacity represents a key avenue for demand growth going forward. Moreover, policies that favor the adoption of clean-coal technologies to promote America's energy security are gaining traction. Over the long term, Arch expects our size, unique asset portfolio, talented workforce and low-cost operations to enable us to capitalize in a meaningful way on these future growth opportunities."
A conference call regarding Arch Coal's fourth quarter and annual 2006 financial results will be webcast live today at 11 a.m. EST. The conference call can be accessed via the "investor" section of the Arch Coal Web site ( http://investor.archcoal.com ).
St. Louis-based Arch Coal is the nation's second largest coal producer. The company's core business is providing U.S. power generators with clean-burning, low-sulfur coal for electric generation. Through its national network of mines, Arch supplies the fuel for approximately 6 percent of the electricity generated in the United States.
Forward-Looking Statements: This press release contains "forward-looking statements" -- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.
Arch Coal, Inc. and Subsidiaries Condensed Consolidated Statements of Income (In thousands, except per share data) Three Months Ended Year Ended December 31, December 31, 2006 2005 2006 2005 (Unaudited) (Unaudited) Revenues Coal sales $618,357 $619,795 $2,500,431 $2,508,773 Costs, expenses and other Cost of coal sales 480,518 565,568 1,909,822 2,174,007 Depreciation, depletion and amortization 57,179 51,414 208,354 212,301 Selling, general and administrative expenses 23,198 31,028 75,388 91,568 Other operating (income) expense: Gain on sale of Powder River Basin assets - (46,547) - (46,547) Gain on sale of Central Appalachian operations - (7,528) - (7,528) Other operating (income) expense, net (3,019) 29,626 (29,800) 7,115 557,876 623,561 2,163,764 2,430,916 Income (loss) from operations 60,481 (3,766) 336,667 77,857 Interest expense, net: Interest expense (16,136) (16,955) (64,364) (72,409) Interest income 579 3,654 3,725 9,289 (15,557) (13,301) (60,639) (63,120) Other non-operating expense Expenses resulting from early debt extinguishment and termination of hedge accounting for interest rate swaps (774) (1,658) (4,836) (7,740) Other non-operating income (expense), net 100 (2,027) (2,611) (3,524) (674) (3,685) (7,447) (11,264) Income (loss) before income taxes 44,250 (20,752) 268,581 3,473 Provision for (benefit from) income taxes (35,350) (29,900) 7,650 (34,650) Net income 79,600 9,148 260,931 38,123 Preferred stock dividends (89) (10,188) (378) (15,579) Net income (loss) available to common shareholders $79,511 $(1,040) $260,553 $22,544 Earnings (loss) per common share (A) Basic earnings (loss) per common share $0.56 $(0.01) $1.83 $0.18 Diluted earnings (loss) per common share $0.55 $(0.01) $1.80 $0.17 Weighted average shares outstanding Basic 141,959 128,904 142,770 127,304 Diluted 143,859 128,904 144,812 129,940 Dividends declared per common share $0.06 $0.04 $0.22 $0.16 Adjusted EBITDA (B) $117,660 $47,648 $545,021 $290,158 (A) All share and per share information reflects the Company's two for one stock split on May 15, 2006 (B) Adjusted EBITDA is defined and reconciled under "Reconciliation of Non-GAAP Measures" later in this release. Arch Coal, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands) December 31, December 31, 2006 2005 Assets (unaudited) Current assets Cash and cash equivalents $2,523 $260,501 Trade receivables 212,185 179,220 Other receivables 48,588 40,384 Inventories 129,826 130,720 Prepaid royalties 6,743 2,000 Deferred income taxes 51,802 88,461 Other 35,610 28,278 Total current assets 487,277 729,564 Property, plant and equipment, net 2,243,068 1,829,626 Other assets Prepaid royalties 112,667 106,393 Goodwill 40,032 40,032 Deferred income taxes 263,759 223,856 Equity investments 80,213 8,498 Other 93,798 113,471 590,469 492,250 Total assets $3,320,814 $3,051,440 Liabilities and stockholders' equity Current liabilities Accounts payable $198,875 $256,883 Accrued expenses 190,746 245,656 Short-term borrowings and current portion of long-term debt 51,185 10,649 Total current liabilities 440,806 513,188 Long-term debt 1,122,595 971,755 Asset retirement obligations 205,530 166,728 Accrued postretirement benefits other than pension 49,817 41,326 Accrued workers' compensation 43,655 53,803 Other noncurrent liabilities 92,817 120,399 Total liabilities 1,955,220 1,867,199 Stockholders' equity Preferred stock 2 2 Common stock 1,426 719 Paid-in capital 1,345,188 1,367,470 Retained earnings (deficit) 38,147 (164,181) Unearned compensation - (9,947) Treasury stock, at cost - (1,190) Accumulated other comprehensive loss (19,169) (8,632) Total stockholders' equity 1,365,594 1,184,241 Total liabilities and stockholders' equity $3,320,814 $3,051,440 Arch Coal, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (In thousands) Year Ended December 31, 2006 2005 (Unaudited) Operating activities Net income $260,931 $38,123 Adjustments to reconcile to cash provided by operating activities: Depreciation, depletion and amortization 208,354 212,301 Prepaid royalties expensed 9,045 14,252 Net (gain) loss on disposition of assets 649 (82,168) Gain on investment in Knight Hawk Holdings, LLC (10,309) - Employee stock-based compensation expense 9,080 12,937 Other non-operating expense 7,447 11,264 Changes in: Receivables (49,265) (48,432) Inventories (39,783) (38,368) Accounts payable and accrued expenses (115,123) 108,536 Income taxes 20,505 (33,513) Other 6,571 59,675 Cash provided by operating activities 308,102 254,607 Investing activities Capital expenditures (623,187) (357,142) Purchases of investments/advances to affiliates (45,533) (23,285) Proceeds from dispositions of property, plant and equipment 777 117,048 Additions to prepaid royalties (20,062) (28,164) Cash used in investing activities (688,005) (291,543) Financing activities Net proceeds from (payments on) revolver and lines of credit 192,300 (25,000) Proceeds from (payments on) long-term debt 442 (2,376) Debt financing costs (2,171) (2,662) Dividends paid (31,815) (27,639) Purchases of treasury stock (43,876) - Issuance of common stock under incentive plans 7,045 31,947 Cash provided by (used in) financing activities 121,925 (25,730) Decrease in cash and cash equivalents (257,978) (62,666) Cash and cash equivalents, beginning of period 260,501 323,167 Cash and cash equivalents, end of period $2,523 $260,501 Arch Coal, Inc. and Subsidiaries Reconciliation of Non-GAAP Measures (In thousands, except per share data) Included in the accompanying release, we have disclosed certain non-GAAP measures as defined by Regulation G. The following reconciles these items to net income as reported under GAAP. Adjusted EBITDA: Adjusted EBITDA is defined as net income before the effect of net interest expense; income taxes; our depreciation, depletion and amortization; expenses resulting from early extinguishment of debt; and other non-operating expenses. Adjusted EBITDA is not a measure of financial performance in accordance with generally accepted accounting principles, and items excluded to calculate Adjusted EBITDA are significant in understanding and assessing our financial condition. Therefore, Adjusted EBITDA should not be considered in isolation nor as an alternative to net income, income from operations, cash flows from operations or as a measure of our profitability, liquidity or performance under generally accepted accounting principles. We believe that Adjusted EBITDA presents a useful measure of our ability to service and incur debt based on ongoing operations. Furthermore, analogous measures are used by industry analysts to evaluate operating performance. Investors should be aware that our presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies. The table below shows how we calculate Adjusted EBITDA. Three Months Ended Year Ended December 31, December 31, 2006 2005 2006 2005 (Unaudited) (Unaudited) Net income $79,600 $9,148 $260,931 $38,123 Income tax (benefit) expense (35,350) (29,900) 7,650 (34,650) Interest expense, net 15,557 13,301 60,639 63,120 Depreciation, depletion and amortization 57,179 51,414 208,354 212,301 Expenses from early debt extinguishment and other non-operating 674 3,685 7,447 11,264 Adjusted EBITDA $117,660 $47,648 $545,021 $290,158 Reconciliation of Adjusted EBITDA to Net Income - 2007 Targets Targeted Results Year Ended December 31, 2007 Low High (Unaudited) Net income $180,000 $288,000 Income tax expense 28,000 32,000 Interest expense, net 70,000 68,000 Depreciation, depletion and amortization 250,000 260,000 Expenses from early debt extinguishment and other non-operating 2,000 2,000 Adjusted EBITDA $530,000 $650,000
Source: Arch Coal, Inc.


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Business News
Part of the producers and trademarks study by Ears and Eyes
18 Nov. 2013
Ears and Eyes publish German favourite brand studyThe market and trend research institute Ears and Eyes has carried out a study for the Hamburg-based communications agency Punkt PR. This September 1000 German men and woman were questioned regarding their perception of producers and trademarks in the categories: fashion, technical, cosmetics and food.
The results of the study show that the favourite brands in Germany are Apple and Esprit. For men the favourite brands in terms of fashion are sports and outdoor brands. Third ranked is the technical brand Samsung. The Germans preferred cosmetic comes from Nivea. Interestingly, the top ten favourite brands include trademarks such as Balea of dm.
Attributes such as sustainable production, popularity of the producer and fair trade are considered of increasing importance. Another discovery is that online trading accounts for a large share of the technical sector. Over 1/3 of consumers buy technical goods such as TV's, computer's etc. online. In comparison, online sales for cosmetics account for 4% and for fashion 18%. In addition, 60% of all sales were for branded goods.
Siegmund Kolfhoff, CEO of the Punkt PR agency, comments: "Consumers increasingly bet on quality when they choose products, and they combine this factor primarily with branded products."
Tatjana von Elverfeldt
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text: richard June 03, 2013 9:34 PM slayer(rgt?). that is NOT what you were claiming. as for comparing lulu against a teammate, that is equally ridiculous, as he has only had three teammates, two of whom are required to play the team orders. yes, he may have more poles than any of them, but that means zilch. all the others I mentioned, and many many more have beaten their teammates over one lap quite consistently.to be honest, I have no real idea what you are trying to say, but lulus record pales into significance compared to Alonso, kimi, seb, etc Reply Report abuse 3 agree 5 disagree


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What Makes Your Dad Unique?
Funny songs, silly outfits, shocking dance moves, recipes gone bad… We've seen it all from the men in our lives! This Father's Day, Serta wants to know something unique about your dad, uncle, grandfather, stepdad, brother, or friend – and that you're "Comfortable With That."
Tell us about something the man who guides you in life does by filling out the entry form on our Facebook page and completing this sentence: "He always __________, but I'm #ComfortableWithThat." For example, a qualifying entry would be "He always sings Bon Jovi when he grills, but I'm #ComfortableWithThat." Starting on Sunday, June 8, and continuing through June 14, 2014, enter for a chance to win big for your special guy!
One winner will be randomly selected every day to win a Serta Counting Sheep plush toy! On Father's Day, one grand prize winner will be randomly chosen to receive a Serta Dad's Summer BBQ Pack that includes a BBQ Gift Basket, a premium Steak Grilling Package, and two iComfort® Scrunch Pillows™ to help dad relax after an afternoon of BBQ'ing.
The sweepstakes will run from 8:00 am CT June 8, 2014, through 11:59 pm CT June 14, 2014. To enter starting Sunday, visit Serta's Facebook page, where additional details and Official Rules will be published.
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Your Opinion: Musial remembered
Thursday, January 31, 2013
Dear Editor:
There are not many sports figures in American history who so captivated an entire city like Stan Musial but that is the case in St. Louis the last seven-plus decades.
No one displayed more class, grace, humility and dignity on or off a field of competition as the beloved outfielder. His statistics speak volumes and will remain part of baseball lore as long as there is baseball — but the love of an entire city speaks so much more.
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I'd like the ability to remove an upvote I've given (in case it was accidental, or I realize it was a duplicate post or what have you), and also to see a list of all the posts I've upvoted (perhaps this could live in the profile that many people have requested already).
Maybe comment upvoting as well, so a thread with many comments will have the most relevant or insightful comments first.
Not a big concern while it's still growing, but a bit further down the line search would be nice (though it's hard to do well), and maybe filtering by type of posts (badges) or time.


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January 1, 2013 to December 31, 2013 – Greater Boston The Music Man's Sing-Along ScheduleMondays10:45am – 11:30am Pepperell Community Center, Pepperell, MA Wednesdays3:30 - 4:30pm Kids' Fun Stop1580 VFW Parkway, West Roxbury, MA Thursdays 3:30pm - 4:1… Organized by Ed Morgan (a.k.a. The Music Man) | Type: interactive, sing, alongs, for, kids, ages, 1-99!
March 9, 2013 from 10:30am to 11:30am – The Regent Theatre, Arlington, MA Our first time at this fantastic Boston Theater! Organized by Stacey Peasley | Type: full, band, concert


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Friday, March 25, 2011
looking for signs of spring
9 comments:
I love flower so much! And trees, twigs, branches!ReplyDelete
Happy spring to you, and yes I'm falling for that water colour drawing on your sketchbook.
Love your sketches. I spent another 3 hours today shoveling another foot of snow off the driveway. No Spring here...ReplyDelete
Happy weekend to you...
Beautiful photos... looks like spring to quietly emerging!ReplyDelete
Thank you for sharing you wonderful sketchbook, such a treat. :]
very nice!!ReplyDelete
hugs from Chile
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Government unveils PF2 infrastructure strategy
The government has unveiled its plans to include public sector investment in future 'PF2' infrastructure projects following its review of the divisive Private Finance Initiative (PFI).
The new consultation, 'A new approach to public private partnerships', and draft shareholders' agreement outline the way in which the government will pay for essential infrastructure like schools, hospitals and other public buildings.
In December the government said this would include taking a share of the equity in future PF2 projects. According to the new documentation the government will invest equity "up to"...
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text: Home Culture Women Protest Murder of Traditional Ruler in Nigeria The traditional ruler and his wife were killed Friday morning despite the recent deployment of troops to the area. By: Nsenga Burton Posted: Nov. 11 2011 5:58 PM 0 Nigerian women protest sectarian violence in May 2011. (Google) The Miami Herald is reporting that women in the north-central region of Nigeria are protesting the murders of a traditional ruler and his wife this morning. Kaduna state police Chief Bala Nasarawa told the Associated Press that the traditional ruler and his wife were killed Friday morning in the town of Kafanchan despite the recent deployment of troops to the area. Nasarawa said the report of the killing came soon after the police relaxed a curfew from 24 to 8 hours. The region of Nigeria has seen repeated riots over the last few days. The protest is the second in two days in the area over insecurity. Last week the killing of two women in a church of a nearby town also sparked riots. The violence has been attributed to the ongoing conflict between Nigeria's predominantly Christian south and Muslim north. This isn't the first time that women have protested the conflict. In April thousands of Christian Nigerian women protested sectarian violence after 500 people died in postelection violence. Can you say, "Stop the violence"? Religious conflict is supposed to be oxymoronic. However, it is anything but that. Kudos to the women for protesting the lack of security facing the region. Committing violence under the guise of religious preservation is unacceptable and devastating to world communities. Read more at the Miami Herald. In other news: Gay Activist David Kato's Murderer Gets 30 Years. Like The Root on Facebook. Follow us on Twitter. Get what we're watching delivered to your inbox everyday! Sign up for our daily video newsletter below. Powered by Livefyre 0


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Ztatico's Mom Answers Activity
Ztatico is a star in these topics:
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no baby movements are found though iam 21 weeks pregnant
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i am 20 weeks my baby moves one day and the next i don" feel anything is this normal
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I am 21 weeks and have not felt my baby move before. Is it normal?posted by lilysowah54
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Slightchip, I dont mean to disencourage you, but I ended up loosing the baby about 2 weeks later, no doctor was able to tell me what from...posted by Ztatico


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Back in January 2007, the then CEO of Tesco, Sir Terry Leahy, pledged to develop a program that would place carbon labels on the more than 50,000 products the retailer sold.
In May 2008, Tesco said it was finally getting underway with its carbon labeling program. It would start by labeling 20 store brand items covering four categories (detergents, orange juice, potatoes and light bulbs).
Now comes word from the company that it has decided to end the program saying it was too complicated and costly.
According to a report by The Grocer, Tesco found that it took several months to determine the carbon footprint of a single product. The retailer also thought it would be joined by other retailers pursuing a greener path and that never happened.
"We expected that other retailers would move quickly to do it as well, giving it critical mass, but that hasn't happened," Helen Fleming, Tesco's climate change director, told The Grocer.
David Metcalfe, chief executive of Verdantix, told the Financial Times, "I wouldn't criticize Tesco for stopping this because no retailer anywhere in the world has found this a successful way of engaging consumers."
Tesco said it remains committed to the "ambitious and stretching" goal of reducing its carbon footprint to zero emissions by 2020, according to the Financial Times.
How much of a hit will Tesco take to its 'green reputation' as a result of pulling the plug on its carbon label program?
Ending the carbon labeling program shouldn't damage Tesco's reputation on sustainable issues. Tesco at least tried to make the complicated program work and the public knows it.
Tesco should just keep running top-notch retail food stores, which they do very well, and not sweat the carbon labeling program. In the future, there will be new sustainable issues and Tesco will likely give solid leadership to them.
Gene Hoffman, President/CEO, Corporate Strategies International
Ending this limited program will have little impact on Tesco's credibility. Consumers are not clamoring for this data. Tesco and other retailers should continue to focus on sustainability, reducing packaging and recycling. Eventually it will become easier to calculate a product's carbon foot print, but will that matter more to consumers than saving money each time they shop?
No, if anything I think this may be an example of "better to have loved (the environment), and lost than to have never loved at all."
In the long-run Tesco may be happy the program failed. Given the difficulty, (and potential variability) of establishing individual product carbon footprints, the company may be better off walking away having tried to do the right thing. The alternative would have been to hold up over 50,000 individual targets for environmentalists to shoot at.
I personally don't think there is a future for carbon labeling at the product level, but then again, I'm in the camp that says that most of what the food industry views as sustainability initiatives range from the outright duplicitous to the incredibly naive.
You can make all the marketing claims you want about your virtue, but that doesn't -- by itself -- actually make you virtuous.
As for Tesco, I salute their efforts and their common sense on this issue and I'd encourage them to continue exploring sustainability projects that share the same bold vision, but might be a tad easier to implement.
Another in Tesco's long line of bad decisions (to do this in the first place). The tiny minority who are interested in this issue will be disappointed, but it's not like they have other places to go for labeling. No damage to the company -- they shouldn't do anything except improve their customer service.
There are good intentions here, but until the retailers require manufacturers to provide the data, it will continue to be too costly. Clearly the guy who makes and sells the product should be the one who knows what the carbon footprint should be.
But, if I knew, I certainly would not tell a customer unless I was the best in my category. And there can only be one best.
Nothing ever seems to go right with labeling programs, and recent supermarket history is littered with terminated or no-growth labeling attempts, either for nutrition or green issues as this one. If it can't be done on a voluntary basis, then labeling of all types will revert to the federal government as yet another regulation. I even doubt that backing away from this program will hurt Tesco; such is consumer apathy.
I give Tesco props for pulling the program rather than forcing it through, particularly as its share of the UK grocery market hits a seven-year low. Remember when Walmart announced that carbon footprint labeling of some kind would be the culmination of its phased sustainability initiative? Ms. Fleming would seem to be spot-on in her assessment that others haven't taken up the mantle as planned.
Some people shop at Tesco because they love it and believe it to be the best cheap supermarket there is.
Some people shop at Tesco because it is the only supermarket within striking distance of where they live (have you guys heard about Tescopoly?).
My feeling is that none of them will care two hoots about this.
Then there are the people (and yes, readers, there are many) who hate Tesco and will be delighted to see them admit defeat on something. Especially now when they are suffering in other ways as well. And not least because what they proposed to do was actually un-doable in anything but their own teeny little megalomaniacal brains.
It's easy to imagine how this happened. Some overly enthusiastic -- or overly influential -- board member came up with this idea and wouldn't shut up about it until everyone else humored him (or her); at least that's what I hope happened. The other alternative -- coupled with the F&E doubts -- is they don't know what they're doing. Are you only allowed three strikes in cricket, too?
Carbon labeling is a complex issue, one that does not easily translate to the everyday consumer. Tesco should take the steps to make the complex simple, should they choose to let consumers know what and why they are taking steps in this area. In the process, they will also need to offer the consumer Tesco's perceived value in making these moves, and how it benefits the consumer.
There is zero damage to Tesco's external credibility on sustainability issues. If necessary to help their own internal agenda maintain a focus on this area, be it promotional, cost-saving, or environmental belief (perhaps all of these), they should address it with associates and vendors. Those are the constituents that they invited into the party initially.
Roger Saunders, Global Managing Director, Prosper Business Development
I don't believe this will negatively impact their credibility, however, it may temper their approach when setting goals the attainment of which is dependent upon yet undeveloped metrics and technology.
Tesco should still move forward on publishing progress towards their sustainability goals, and develop projects and goals which are attainable and can be reported upon. There are many available that can enable their benchmarking and reporting on greenhouse gas reductions.
Charles P. Walsh, President, OmniQuest Resources, Inc
The old expression "nothing ventured, nothing gained" is appropriate here. I commend them for the effort. Now let's move on and not bury them.
Ed Rosenbaum, CEO, The Customer Service Rainmaker, Rainmaker Solutions
In our research, we see a pattern of shifting emotions about the environment, and changing motivations to choose a green lifestyle, which would suggest that there is increasing opportunity for initiatives like Tesco's (though perhaps Tesco's specific tactical choice proved somewhat unwieldy). Specifically, our emotional data used to suggest that preference for green lifestyles as somewhat of a "superego" issue -- setting a good example, taking the lead, doing the "right thing." Of late, motivation to be green is both more widespread and more pragmatically rooted -- a large segment of people now believe it is necessary in order to prevent truly bad things from happening to the planet and we who live on it.
In this emotional context, as opposed to even five years ago, I think it's fair to project a broader audience for green initiatives of all stripes. However, I'm not certain if posting carbon footprints for products might be a little abstract for the average consumer -- who we know in the end does very little reading in store, at shelf, or on pack. A simple program that communicates a retailer's commitment to green business and gives consumers an opportunity to choose green lifestyles is probably a better bet, even in today's more motivated conditions.
David Forbes, CEO, The Forbes Consulting Group


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The NFL has announced that Saturday night's Patriots-Giants game will be simulcast on both NBC and CBS as well as on NFL Network.
Originally, the game was scheduled to be shown only on NFL Network, which is available to fewer than 40 percent of the nation's homes with TVs.
Only the Giants stand in the way of the Patriots becoming the first NFL team to go 16-and-0 in the regular season.
The simulcast of the NFL Network feed is a major concession by league officials, who repeatedly said they would not show the game anywhere but on their network. But the NFL has faced mounting pressure from politicians in recent weeks to make the game available to more viewers.
This will be the first three-network simulcast in NFL history and the first simulcast of any kind of an NFL game since the first Super Bowl in 1967.
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You Know It! '80s Music Videos Trivia Overview
I should've learned to play the guitar..."Coming up this hour, the very best trivia about the greatest music videos of the 1980s! We've got Genesis, Dire Straits, and an Instant Classic from Def Leppard! At the bottom of the hour, awesome questions from Madonna and Hall & Oates! All that and more on the way...and we're gonna start it all off with the World Premiere of a question about Duran Duran! Call your cable operator and let them know: I WANT MY '80S MUSIC VIDEOS TRIVIA!"
1.When the question appears on the screen, click on one of possible answers. In the first two rounds, a correct answer scores you points based on how fast you answer and your streak of correct answers.
2.After you have answered each question, click the Arrow under the words Click to Continue to load the next question.
3.In the final round, the four answers will appear. Use the Up and Down arrows to determine how many of your points you want to risk. If you have fewer than 1000 points, you may risk up to 1000. Click Place Bet and the final question will load.
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Officers Serve Up a Good Cause
Posted: 12/09/2006 - Leon County sheriff's deputies and Tallahassee police officers are hosting the seventh annual Cops for Kids.
Posted: 12/09/2006 - Leon County sheriff's deputies and Tallahassee police officers are hosting the seventh annual Cops for Kids.
Posted: 12/09/2006 - Quincy residents gathered to watch the annual Christmas parade.
Updated: 12/09/2006 - A Crawfordville man has been busted for child pornography.
Updated: 12/09/2006 - Florida Gov. Jeb Bush prepares to leave office.
Updated: 12/09/2006 - Some people are keeping warm with the simple flip of a switch, while others are doing the natural way.
Updated: 12/08/2006 - Cheerleaders from Gretchen Everhart School hope to compete in a statewide competition soon.
Updated: 12/08/2006 - A Tallahassee woman needs help caring for her disabled daughter.
Updated: 12/08/2006 - In case you haven't heard or couldn't feel it, it's cold outside and getting colder. That means it's time for you to follow the five P's.
Updated: 12/08/2006 - Gov. Jeb Bush discusses the past and future, from his biggest regret to what he plans to do next.
Posted: 12/08/2006 - FAMU interim president Castell Bryant has brought about a change in the Department of Student Housing.
Updated: 12/08/2006 - The Leon County Sheriff's Office said a sketch of a suspected kidnapper is helping its investigation.
Posted: 12/08/2006 - A Gadsden County man opted not to go to trial on attempted murder charges.
Posted: 12/08/2006 - "We made good decisions," said Dr. Castell Bryant.
Posted: 12/08/2006 - Gadsden County deputies are trading in their guns for bags. Shopping bags, that is.
Updated: 12/08/2006 - This notice is for customers south of Natural Wells Road along Woodville Highway, including some customers in Wakulla County.
Posted: 12/08/2006 - Christmas came a little early for some students in Gadsden County.
Posted: 12/08/2006 - Some new members of the Lowndes County Sheriff's Office will soon take a bite out of crime. The agency is expanding its four legged force.
Posted: 12/08/2006 - The public golf course in Thomasville is getting a big makeover.
Posted: 12/08/2006 - The Department of Environmental Protection is cleaning up an old gas station site that contains contaminated soil.
Updated: 12/08/2006 - If you plan on shipping Christmas gifts to troops over seas, the deadline is fast approaching if you want it to arrive on time.
Posted: 12/08/2006 - "Pay it forward" is an idea based on lending a helping hand, hoping that the person benefiting will do the same sometime down the road.
Posted: 12/08/2006 - A grand jury refused to indict a Valdosta mother whose baby died unattended in a car.
Posted: 12/08/2006 - There's a new man at the helm at Valdosta Technical Community College, and he says he considers education his passion.
Updated: 12/08/2006 - A Tallahassee man is accused of sexually assaulting a Florida State student.
Posted: 12/08/2006 - Local teens are hitting the streets in an effort to remove gang graffiti.


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Dallas Cowboys Train - Christmas Express
An enchanting, hand-painted Christmas train sculpture loaded from engine to caboose with Cowboys pride and holiday cheer!
- With Cowboys pennants flying, Santa and his train full of Dallas fans are bringing the greatest celebration of the year right into your home...a "full steam ahead" Dallas Cowboys Christmas party onboard a festively decorated train!
- Brimming with captivating details, from the icy "fuel" in the "Cool-Down Bench Car" to the friendly game taking place in the "Field Car" to the fully stocked equipment car and caboose loaded with tasty "Cowboys Snacks."
- Meticulously sculpted of cold-cast porcelain and skillfully hand painted in brilliant team and holiday colors.
- Officially licensed by the National Football League and available exclusively from the Danbury Mint.
- Actual size is 20 1/2" long x 4" high.
$149.70 +$11.70 Shipping & Service
6 Monthly Installments of $26.90
Product Information
- 3766-0024


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Tuesday Mar 26 2013
Army Pfc. Patrick J. O'Brien graduates from basic combat training
Army Pfc. Patrick J. O'Brien graduated from basic combat training at Fort Jackson in Columbia, S.C.
During nine weeks of training, he studied the Army mission, history, tradition and core values, physical fitness, and received instruction and practice in basic combat skills, military weapons, chemical warfare and bayonet training, drill and ceremony, marching, rifle marksmanship, armed and unarmed combat, map reading, field tactics, military courtesy, military justice system, basic first-aid, foot marches and field-training exercises.
O'Brien is the son of Kelly and John O'Brien of Lincoln.
He is a 2007 Lincoln High School graduate.


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pictures of road traffic signs in malaysia
pictures of road traffic signs in malaysia
1 - 15
of about
pictures of road traffic signs in malaysia
Regulatory Traffic Signs
By: Tom Selwick |
Article Marketing
While driving, you see many signs on the road and in parking lots, and most of them are self explanatory, but not everyone knows their meanings. Arrowed signs are usually self explanatory, but there are other symbols that may require explanation.
read more
Understanding Traffic Road Signs
By: Tom Selwick |
Article Marketing
This article is about traffic road signs. If we want to be sure that we are safe in our driving, both for ourselves and those around us, we need to be sure we know how all the signs work.
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The Best Method To Comparison Shop For Road Signs
By: Carlos Scarpero |
Article Marketing
When federal regulations are set in place as it relates to traffic signs, states are expected to comply. The Bush Administration made changes to traffic and parking signs. Some of these changes are ex...
read more
Deceptive Road Signs
By: Kevin Probst |
Satan throws up all sorts of road signs along the way. These are all lies to try to discourage traveling pilgrims. Sadly, many believe the lies, get discouraged and return to the easy way that leads to destruction.
read more
Traffic Signs, Crosswalk Signs, Traffic Sign, Crosswalk Sign
By: Brimar Safety Sign |
Small Business
Did you know that driving laws say that the pedestrian always has the right of way? Drivers should always yield to a pedestrian crossing the street, but if youve spent any amount of time driving, you ...
read more
Know About Traffic Bollards and Road Safety Signs
By: Anish Kumar |
Small Business
Traffic bollards are short vertical posts that guide traffic and ensure public safety. Painted bright yellow or orange they stand prominent compared to the surrounding landscape. For more visibility at night reflective tapes are affixed on traffic bollards. Yet another function is their use in creating an anti-ram perimeter guard as they they do not block the vision of a driver.
read more
All You Need To Know About Traffic Signs
By: fishface50 |
Graphic design
Traffic signs are very important for travelers and drivers alike. Erected at conspicuous places of roads, traffic signs provide useful information to road users. It also helps prevent road accidents and reduce risks in driving.
read more
How Brighter Traffic Signs Reduce Accidents
By: Brimar Safety Sign |
Many nighttime accidents on roads are due to poor visibility of traffic safety signs. Learn how the MUTCD has recognized this problem and established a new standard that requires the maintenance of traffic sign retroreflectivity.
read more
Street Signs - Nametags For the Open Road
By: Jessica Pear |
Reference & Education
Street signs are the name tags of the asphalt world. Used to provide the name of the stretch of road that you are on, they are the basis for all directions and addresses in the modern world. Typically found at intersections, atop tall poles, the street sign is one of the most common traffic signs in the world.
read more
Helpful Facts about Traffic Control Signs
By: Adolph Paul |
Traffic control signs are important components of traffic management systems. These signs are important for both drivers and pedestrians. They guide people on the road safely towards their destinations. Traffic control signs help in preventing road accidents and reduce untoward incidents.
read more
Importance of Road Safety Signs in Our Daily Life
By: Anish Kumar |
Small Business
Traffic cones are also called bollards. First invented by Charles P Rudebaker in 1915, the early day version of Traffic cones was hard concrete or semi permanent installations. Later on flexible modern cones made of Thermoplastics or High grade rubber compounds came up. These days cones have a two-tier design with a tough rubber composite prominent at the base top.
read more
Traffic Signs And Signals
By: Tom Selwick |
Article Marketing
A responsible motorist should know the different types of traffic signs. Road boards give a motorist various types of information or warnings depending on the shape, color and placement of the signal.
read more
Deciphering The Traffic Signs
By: Tom Selwick |
Article Marketing
Understanding the meaning of traffic signs is important. This article delves into this importance so that readers understand why this knowledge proves to be important out on the road.
read more
Ways To Control Traffic Speed With Traffic Signs
By: Brimar Safety Sign |
Controlling the speed of traffic on your roads and highways is just one way to reduce accidents. Find out which traffic signs can help bring order to your roads and control the speed of traffic.
read more
Road Traffic Law and Speeding
By: Ben Willis |
This article gives a brief summary about road traffic law and what to do if you are caught speeding.
read more
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American Software, Inc. (NASDAQ:AMSWA)
The Company develops, markets and supports a portfolio of software and services that deliver enterprise management and collaborative supply chain solutions to the global marketplace.
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Part of a screener test. I looked at 4-5 star stocks, with a dividend yield above 2.5%, gross margins above 25%, price 0-50% below 52-week high, with 3-year EPS of 5+, P/E < 40. These are all interesting PEGY plays for me.
Liking the dividend.
AmericanTM software has consolidated Aug 15 2013 The Co. completed acquisition of certain assets of privately - held Taylor Manufacturing Systems Acquisition of TMS will allow Co. to expand its software product offering Major customers accounts for 10% of total rev. Gross margin decreased due to license fees
I'm placing a bet this week on small-cap software firms with significant, but less than majority, insider ownership. I think I'll hit more than I miss. This is one of my picks. Wish me luck!
You have to be worried about a dividend cut here; the balance sheet numbers are nice and relatively safe, but earnings and cash flow are nothing to go crazy about, even on an enterprise basis. It's not a bad pick but I think there are better places to go right now.
Market Cap of $150M, $50M in cash vs no debt, forward P/E is 16. 6.5% dividend yield, but the payout ratio of 327% is unsustainable.
AMSWA is VASTLY undervalued. Especially below the 7 mark.
With it's consistently increasing, historied, and already large quarterly dividends matched with DRIP, and its ownership of LGTY, regardless of the companies earnings this stock is a winner.
If you buy 100 shares today and enroll in DRIP, and if the dividend and stock price stay the same, you would double the number of shares owned in 13.5 years.
that is without any growth whatsoever, which it is positioned to grow. With no debt, they can afford expansion while keeping the rising dividends active.
must go up
tech with a dividend
Curious to see if this one still has the legs to make another run for it. Pretty much at the 52-Week Low, no debt... seems like it could move.
AMSWA pays a nice annual dividend, but other than that the stock is basically useless.
Large amount of cash on-hand plus the reliability of a proven global distribution chain. The line of software product is applicable throughout the world-wide sales force.
AMSWA is absurdly cheap. Between their cash hoard and ownership of LGTY, you are basically getting their organic growth and dividend for free...
American Software has probably the sweetest dividend in the software space and that was the immediate attraction here. Upon further review, the company is growing at a steady 12-15% per annum with a forward price to earnings of just 17. I really love software companies with no debt, and AMSWA maintains $3 in cash per share. So basically you're getting a 4% dividend on a $5 stock after cash. Their earnings history can be a tad erratic with analysts having a hard time getting a good bead on their business fluctuations, but the risk/reward here seems reasonable.
This is a solid company although a small player in a field with a lot of competition. They have a couple of things that made me sit up and take notice, two of their biggest draws to me is a healthy dividend and zero debt.
They seem pretty well diversified and have been in business since 1970. Management seems to be level headed.
A software company that has developed a very powerful tool for POS (Point Of Sales) that is extreamly easy to use and incorporate into a retail type business.
Consistent growth, strong dividend, recent price retreat.
Recovery due.
Has taken a beating lately(not sure why it has been so bad)but I expect it to double in the next 2-3 years. I own a few hundred shares so I do have a vested interest.


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OMAHA, Nebraska, December 15. NEBRASKA and the University of Nebraska-Omaha closed out their fall semesters yesterday with a fun relay meet in Omaha. Nebraska won six of the nine relays contested to take home an 86-34 win over the Mavericks.
Nebraska Press Release
The Nebraska swimming and diving team won six of nine relays and Nicole Schwery won the three-meter dive on the way to an 86-34 relay meet victory over Nebraska-Omaha on Saturday.
The Huskers began the meet with a victory in the 400-yard medley relay. Nebraska's squad of Jacqueline Juffer, Kristin Strecker, Shannon Guy and Alexandra Bilunas finished in a time of 3:54.55.
In the meet's next event, the 600-yard freestyle relay, Nebraska got its second win of the day. Morgan Flannigan, Bailey Pons and Natalie Morris finished in 5:47.86 to earn the victory for the Huskers.
The 200-yard freestyle relay saw Juffer and Bilunas join Bria Deveaux and Rebekah Land for the Husker's third win in as many events. The squad finished four seconds ahead of Nebraska's B squad with a time of 1:38.46.
In the meet's lone individual event, the three-meter dive, Nicole Schwery took first place for the Huskers with a score of 268.27. Schwery's victory marked the first of the season for the sophomore.
The Huskers swept the 300-yard butterfly, 300-yard backstroke and 300-yard breaststroke relays for their final three victories of the meet. Deveaux, Morris and Julia Roller took the 300 fly (2:56.27), Juffer, Land and Erin Oeltjen claimed the 300 back (2:55.46) and Guy, Strecker and Katie Ditter earned the victory in the 300 breast (3:21.02).
Nebraska-Omaha earned victories in three events, including the final two of the meet. The Mavericks won the 300 medley relay in 3:04.00, the 200 medley relay in 1:55.24 and the 400 free relay in 3:39.62.
With the meet victory, the Huskers improved their overall record to 3-2-1 on the season. The squad will now have nearly three weeks before they take their annual holiday training trip. After that, Nebraska will next compete on Saturday, Jan. 25, when they host conference rival Illinois at 11 a.m. on senior day.
Nebraska-Omaha Press Release
The Omaha swimming and diving team fell to Nebraska 86-34 Saturday.
UNO concluded their weekend of home competition, going 1-1 after Friday's win against South Dakota.
The 300-yard medley relay team of freshman Morgan Stepp, senior Hannah Alexander, sophomore Natalie Renshaw took first place (3:04.00).
Stepp was the first leg of the first-place 200-yard medley relay team, along with senior Madeline Hutt, junior Morgan Cullison, and freshman Mackenzie Ritter (1:55.24).
UNO's third top finish came in the 400-yard free relay. Junior Jenna Foiles, senior Whitney Korgan, Renshaw, and senior Erin Wright clocked a time of 3:39.62.
"This was a very good weekend for us," said head coach Todd Samland. "Our program made some great swims and dives. Now it is time to focus on school finals and preparations for our training trip to Key West."
After a Christmas break that will include an annual holiday training trip, UNO will return to action January 17 and 18 in Grinnell, Iowa, for the Grinnell Invite.


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May 5, 2010
Mike Pegram
The energy that Kevin Ferrell brought to his Indiana Elite team this weekend was very apparent, and the 5-foot-11 point guard maintained it through the rigors of tournament play on Sunday in leading his squad to the Spiece Run-n-Slam championship. The Park Tudor prospect talked to us this week about the title, his recent unofficial visits to Indiana and Notre Dame and more. ...More... To continue reading this article you must be a member. Sign Up Now!
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Good thing we built Egan Dr. 40 years ago. I can't even imagine the uprising if we tried to build that in today's Juneau. The wetlands...
Those aren't bay view residents Sam.
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Fatima captures own softball tournament
Sunday, August 28, 2011
WESTPHALIA, Mo. -- The Fatima Lady Comets went 3-0 on Saturday to capture the title in the Blue and Gold Tournament.
The Lady Comets opened with an 11-1 victory over Owensville. Fatima then topped Iberia 15-3.
Fatima closed with a 2-1 victory over St. Elizabeth.
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Building GNU Radio on the BeagleBoard
While building GNU Radio on the Beagle is not the fastest way to build GNU Radio for the Beagle, it is still useful for some tasks. "Make check" and the benchmarking programs just work. Hopefully, rebuild small pieces of GNU Radio is fast enough to allow people to work on the signal processing code etc.
These notes will be under construction/testing for a while.
Wireless@VT Symposium 2010
Keep an eye on the website for the Wireless@VT 2010 Symposium: http://wireless.vt.edu/symposium2010.html.
Presentation from Wireless@VT Symposium
Philip, Balister (OpenSDR), Chris Anderson (USNA) and George Schaertl (USNA) gave a presentation on "Embedded SDR" at the Wireless@VT symposium on June 5, 2009. Here is the code for the NEON examples and the slides.
OSSIE-SCA on the Gumstix Overo
The Gumstix Overo is an OMAP3 based system similar to the Beagle Board. The primary difference between the two products is that the Overo exposes more pins to the user.
Beagle Board SDR
The Beagle Board is an OMAP 3 based single board computer. The OMAP3 processor combines an ARM Cortex-A8 general purpose processor with a Texas Instruments C64x family digital signal processor in the same package. This combination is an attractive system for developing software defined radio software.
Installing Linux on the Lyrtech SFFSDR
WARNING: No instructions exist for restoring the software provided with the SFFSDR board. I can not answer any questions about the restore process, proceed at your own risk.
There is a listserv for Linux on the SFF SDR. To subscribe to the list send an email to
subscribe sffsdr Firstname Lastname
List archives are at http://listserv.vt.edu/archives/sffsdr.html
Basic procedure:
OSK Notes
So far just notes on how to flash images ...
Flash u-boot, assumes tftp download and u-boot named
OMAP5912 OSK # tftpboot 0x10000000 uboot.bin OMAP5912 OSK # protect off 1:0 OMAP5912 OSK # erase 1:0 OMAP5912 OSK # cp.b 0x10000000 0x0 $(filesize) OMAP5912 OSK # protect on 1:0
Flash kernel, assumes tftp download and kernel named
OMAP5912 OSK # tftpboot 0x10000000 uImage.cc OMAP5912 OSK # erase 0x40000 0x23ffff OMAP5912 OSK # cp.b 0x10000000 0x40000 $(filesize)


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Every year, the Met Gala is hosted with a theme that attendees are expected to dress in accordance with. This year, that theme was "white tie and decorations" in honor of legendary couturier Charles James. For the women, that meant sweeping ball gowns. For the men… well, evidently the theme was a little hard for the men to follow.
Seth Myers interviewed Met Gala chairs Anna Wintour and Sarah Jessica Parker on his show Late Night with Seth Myers, and according to the fashionable women, while the male attendees deserve credit for trying, only a few actually succeeded with their white-tie look.
Check out the rather humorous interview (above) and learn about their dos and don'ts for white-tie dressing. Hey, you never know when you'll have a white-tie event – and now when you do, you'll have an SJP- and Wintour-approved look.
Read the full article on Fashionista.
By Christine Mitchell, Staff Writer
Who do you think wore white tie best at the Met Gala? Tweet us at @ruelala to share.
Not a Member and like The (Style) Guide? You'll love Rue La La. Join now.


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Archived—National Awards Ceremony Certificate of Excellence 2000-2001
Archived Information
Archived information is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.
2000–2001 Certifcate of excellent winner Connie Buchanan and family with Prime Minister Jean Chrétien
- Date modified:


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August 12, 2015
|Fast Facts
Gay, bisexual, and other men who have sex with men (MSM)1 represent approximately 2% of the United States population, yet are the population most severely affected by HIV. In 2010, young gay and bisexual men (aged 13-24 years) accounted for 72% of new HIV infections among all persons aged 13 to 24, and 30% of new infections among all gay and bisexual men. At the end of 2011, an estimated 500,022 (57%) persons living with an HIV diagnosis in the United States were gay and bisexual men, or gay and bisexual men who also inject drugs.
Estimates of New HIV Infections in the United States for the Most-Affected Subpopulations, 2010
Source: CDC. Estimated HIV incidence among adults and adolescents in the United States, 2007-2010. HIV Surveillance Supplemental Report 2012;17(4). Subpopulations representing 2% or less are not reflected in this chart. Abbreviations: MSM, men who have sex with men; IDU, injection drug user.
The large percentage of gay and bisexual men living with HIV means that, as a group, gay and bisexual men have an increased chance of being exposed to HIV. Results of HIV testing conducted in 20 cities as part of the National HIV Behavioral Surveillance System (NHBS) indicated that 18% of gay and bisexual men tested in 2011 had HIV and that HIV prevalence increased with increasing age.
Many gay and bisexual men with HIV are unaware they have it. Even though the NHBS study showed that the overall percentage of gay and bisexual men with HIV who knew of their HIV infection increased from 56% in 2008 to 66% in 2011, there were still many who did not know they had HIV. Among those infected, only 49% of young gay and bisexual men aged 18 to 24 years knew of their infection, whereas 76% of those aged 40 and older were aware of their HIV infection. Fifty-four percent of black/African-American gay and bisexual men knew of their infection, compared with 63% of Hispanic/Latino gay and bisexual men, and 86% of white gay and bisexual men. People who don't know they have HIV cannot get the medicines they need to stay healthy and may infect others without knowing it. The Centers for Disease Control and Prevention (CDC) recommends that all gay and bisexual men get tested for HIV at least once a year. Sexually active gay and bisexual men may benefit from more frequent testing (e.g., every 3 to 6 months).
Sexual risk behaviors account for most HIV infections in gay and bisexual men. Most gay and bisexual men acquire HIV through anal sex, which is the riskiest type of sex for getting or transmitting HIV. For sexually active gay and bisexual men, the most effective ways to prevent transmitting or becoming infected with HIV are to be on antiretroviral medications (to either treat or prevent infection) and to correctly use a condom every time for anal or vaginal sex. Gay men are at increased risk for sexually transmitted diseases (STDs), like syphilis, gonorrhea, and chlamydia, and CDC recommends that all sexually active gay and bisexual men be tested at least annually for these infections and obtain treatment, if necessary.
Having more sex partners compared to other men means gay and bisexual men have more opportunities to have sex with someone who can transmit HIV or another STD. Similarly, among gay men, those who have more partners are more likely to acquire HIV.
Homophobia, stigma, and discrimination may place gay men at risk for multiple physical and mental health problems and affect whether they seek and are able to obtain high-quality health services.
CDC awarded $55 million over 5 years to 34 community-based organizations to provide HIV testing to more than 90,000 young gay and bisexual men of color and transgender youth of color with the goals of identifying more than 3,500 previously unrecognized HIV infections and linking those who have HIV to care and prevention services. Additionally, CDC's MSM Testing Initiative seeks to identify at least 3,000 MSM with HIV who were previously unaware of their infection and link at least 85% to care.
CDC is aligning surveillance and program activities more closely. For example, more people living with HIV should be linked to care, receive continuous care and antiretroviral treatment, and achieve a suppressed HIV viral load -- the most important goal for maximizing a person's health as well as reducing the risk of transmission. By increasing the reporting of CD4 and viral load data across the country, CDC will aid health departments and clinicians in monitoring treatment progress toward viral load suppression. Currently, CDC estimates that only 25% of the 1.1 million individuals with HIV have their viral loads adequately suppressed.
CDC supports biomedical approaches to HIV prevention. Pre-exposure prophylaxis (PrEP), which involves taking antiretroviral medications prior to becoming exposed to HIV, can reduce the risk of HIV infection in individuals at substantial risk of infection. Post-exposure prophylaxis, which involves taking antiretroviral medications soon after possible exposure to HIV, also plays a role in HIV prevention, but should be not be considered a primary means of HIV prevention. Also, while HIV treatments can dramatically improve the health of HIV-positive persons who are treated, they also have prevention benefits: individuals whose HIV viral loads are suppressed have a greatly reduced chance of transmitting the virus to their partners.
Through its Act Against AIDS campaigns, CDC aims to provide MSM with effective and culturally appropriate messages about HIV prevention. The Reasons/Razones testing campaign features Latino gay and bisexual men sharing their reasons for getting an HIV test. Testing Makes Us Stronger encourages black gay and bisexual men to get tested for HIV. Let's Stop HIV Together focuses on raising awareness of HIV and AIDS and combatting complacency and stigma by increasing support for people living with the disease. Start Talking. Stop HIV. encourages gay and bisexual men to communicate about testing and other HIV prevention issues.
CDC also funds state and local health departments and community-based organizations to support HIV prevention services for MSM.
Read more about CDC activities to reduce HIV risk and improve the health of MSM.
The following articles were used as source material for much of the information on this website about HIV among gay, bisexual, and other men who have sex with men (MSM):
Web Sites
General Resources


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Project: Apache FOP
Code Location: http://svn.apache.org/repos/asf/xmlgraphics/fop/trunk/xmlgraphics/fop/trunk
@ECHO OFF REM Licensed to the Apache Software Foundation (ASF) under one or more REM contributor license agreements. See the NOTICE file distributed with REM this work for additional information regarding copyright ownership. REM The ASF licenses this file to You under the Apache License, Version 2.0 REM (the "License"); you may not use this file except in compliance with REM the License. You may obtain a copy of the License at REM REM http://www.apache.org/licenses/LICENSE-2.0 REM REM Unless required by applicable law or agreed to in writing, software REM distributed under the License is distributed on an "AS IS" BASIS, REM WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied. REM See the License for the specific language governing permissions and REM limitations under the License. REM $Id: fop.cmd 1293736 2012-02-26 02:29:01Z gadams $ set LOCAL_FOP_HOME=%~dp0 set FOP_CMD_LINE_ARGS=%1 if ""%1""=="""" goto doneStart shift :setupArgs if ""%1""=="""" goto doneStart set FOP_CMD_LINE_ARGS=%FOP_CMD_LINE_ARGS% %1 shift goto setupArgs rem This label provides a place for the argument list loop to break out :doneStart call "%LOCAL_FOP_HOME%\fop.bat" %FOP_CMD_LINE_ARGS%


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Date: Wednesday, April 2, 2008
Time: 9:30am - 10:45am
Location: Level 2, Delta Ballroom A
At the COMMON Annual Meeting and Exposition in Nashville, IBM will make a special announcement of an important initiative "The New Power Equation." Please join Mark Shearer, Vice President, Marketing and Offerings, IBM Business Systems, and Ross A Mauri, General Manager of IBM Power Systems, at a special Town Hall Meeting on the morning of Wednesday, April 2nd at 9:30am. On the agenda is news you will want to hear and an opportunity to dialogue with IBM executives. Don't miss this important session.


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Investment planning
This is your chance to explore the latest thinking and portfolio design concepts, including downside risk measures, retirement income generation, uncorrelated assets and the elusive search for true alpha--offered by economic strategists, portfolio managers and leading advisors.
A unique opportunity to compare notes and strategize with top-level planning professionals--and with the speakers during extended group discussion sessions and a unique exhibit hall forum experience.
Practice Management
Tired of the same old topics? The BWMF Conference has polled advisors on the subjects you want to explore--transition planning, human resources, outsourcing, staff motivation, out-of-the-box marketing--and interactive sessions will explore in-depth how to bring new energy and wisdom to your practice management activities. Want more? The new interactive exhibit hall will include people who can address your practice management challenges directly.


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Mandatory Reporting
ABSTRACT: Child victims of sexual abuse may present with physical findings that can include anogenital problems, enuresis or encopresis. Behavioral changes may involve sexual acting out, aggression, depression, eating disturbances and regression. Because the examination findings of most child victims of sexual abuse are within normal limits or are nonspecific, the child's statements are extremely important. The child's history as obtained by the physician may be admitted as evidence in court trials; therefore, complete documentation of questions and answers is critical. A careful history should be obtained and a thorough physical examination should be performed with documentation of all findings. When examining the child's genitalia, it is important that the physician be familiar with normal variants, non-specific changes and diagnostic signs of sexual abuse. Judicious use of laboratory tests, along with appropriate therapy, should be individually tailored. Forensic evidence collection is indicated in certain cases. Referral for psychologic services is important because victims of abuse are more likely to have depression, anxiety disorders, behavioral problems and post-traumatic stress disorder.
It Sounds Like Child Abuse--But Is It? - Curbside Consultation
The Importance of Reporting Mistreatment of the Elderly - Editorials
Paging Dr. Colombo: When Physicians Become Instruments of the Law - Opinion
Intimate Partner Violence - Article
ABSTRACT: Intimate partner violence is a common source of physical, psychological, and emotional morbidity. In the United States, approximately 1.5 million women and 834,700 men annually are raped and/or physically assaulted by an intimate partner. Women are more likely than men to be injured, sexually assaulted, or murdered by an intimate partner. Studies suggest that one in four women is at lifetime risk. Physicians can use therapeutic relationships with patients to identify intimate partner violence, make brief office interventions, offer continuity of care, and refer them for subspecialty and community-based evaluation, treatment, and advocacy. Primary care physicians are ideally positioned to work from a preventive framework and address at-risk behaviors. Strategies for identifying intimate partner violence include asking relevant questions in patient histories, screening during periodic health examinations, and case finding in patients with suggestive signs or symptoms. Discussion needs to occur confidentially. Physicians should be aware of increased child abuse risk and negative effects on children's health observed in families with intimate partner violence. Physicians also should be familiar with local and national resources available to these patients.
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When it comes to picking our favorite moments at this year's Primetime Emmy Awards, not surprisingly Barry Pepper taking home the Lead Actor statuette for his portrayal of Bobby Kennedy in The Kennedys heads the list.
Other highlights include Melissa McCarthy's and Margo Martindale's sweetly emotional speeches, the Dunphy domination in the Best Supporting Actor/Actress in a Comedy category, and the Daily Show writers' absurdly awkward acceptance speech. We also were both amused and confused by the Emmys choir and Joel McHale's inexplicable presence therein.
And last, but certainly not least, was the great video short with Roger Sterling (John Slattery), Cee Lo Green, Kim Kardashian, Ashton Kutcher, and Olivia Benson (Mariska Hargitay) telling The Office's "documentary team" what they like least about their jobs. Kim K. wasn't sure what they meant, and Mad Men's Roger Sterling was tired of having to buy furs for his secretaries.
The worst thing about this year's Emmys? We've gotta go with Michael Bolton's backup dancers in the skintight spandex ocean suits — very creepy.
For more coverage of the Primetime Emmys, including backstage moments and after parties, watch tomorrow's Hollywood Dailies at 5PM ET / 3PM PT. ReelzChannel is on DirecTV channel 238, Dish Network channel 299, and available on your cable or satellite system.


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As any new parent knows, babies have different cries. There's
the "I'm hungry" one, the "I need my diaper changed" one, the
"where in God's name is my blanket?" one, the "What's that? You're
trying to sleep?" one. A trained parental ear can pick up on baby's
But according to a new study, there's something else they could
be listening for. New research shows that babies pick up
characteristics of their mother tongue in utero. Analyzing the
cries of 60 newborns -- 30 French and 30 German -- German
researchers found the cries had distinct melodies and cadences,
ones that mirrored the French and German spoken languages.
Specifically, German babies cry with a falling melody, French
babies with a rising one (and if you listen very closely,
an air of superiority). Likely little comfort to their
sleep-deprived parents, but interesting nonetheless.
Why? The study's authors say it shows that, linguistically,
babies are smarter than we thought, and that even as early as the
third trimester, fetuses can soak up language knowledge. Earlier
studies had found that infants could imitate adult sounds, but only
after 12 weeks. So when it comes to speaking to your baby, do it
early and often.
The behavior, researchers say, comes from an instinctual desire
to please.
Newborns are probably highly motivated to imitate their mother's
behavior in order to attract her and hence to foster bonding.
Because melody contour may be the only aspect of their mother's
speech that newborns are able to imitate, this might explain why we
found melody contour imitation at that early age.
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